2021-03-31-accounts

INNERCYCLE CIO – 1179976

TRUSTEES ANNUAL REPORT AT 31 MARCH 2021

Address

The principle office of the CIO is in England, located at:

71–75 Shelton Street, Covent Garden, London WC2H 9JQ

Trustees

The following Trustees held office through the period:

Steven Clarke (Chair) Jane Brodie Andrew Johnston Andy Walsh Anne Walsh

Structure

Innercycle is a Charitable Incorporate Organisation whose only voting members are its charity trustees. It is governed by a Board of Trustees working to a Constitution dated 18[th] September 2018. It is managed entirely on a voluntary basis, activity ordinarily undertaken by an ad-hoc roster of approximately 20-30 volunteers overseen by the Chair and the unsalaried Chief Executive, working to governance documents issued by the Board. Some support functions are outsourced including to a roster of 30+ accredited psychotherapists.

Trustees hold office for variable terms. Re-appointment or the appointment of a new Trustee requires unanimous agreement of existing Trustees who will consider the candidate’s values, knowledge, skills and influence, with the aim of increasing the capabilities of the Board and the charity. No additional Trustees were appointed during the period. Review of appointments is anticipated prior to the 2022 Annual Report.

Reserves Policy

The CIO is yet to develop sufficiently for adoption of a Reserves Policy.

Public Benefit

The Trustees confirm that throughout the period they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.

Objectives

The objects of the CIO are for the benefit of people with mental health concerns, including those on the cusp of recovery from (or on the verge of) mental health concerns:

• The advancement of health for public benefit, through promotion and provision of cycling activities and therapeutic counselling modalities which have a proven beneficial effect on health;

• The advancement of education and relief from unemployment in the United Kingdom for public benefit, through provision of vocational training, resources, advice and assistance to find and sustain work, the starting and growing of a business or volunteering, developing individual capabilities, competences, skills and understanding; and

• The relief of those in need, by reason of ill-health and financial hardship among people living or working in the United Kingdom, promoting mental improvement and providing for public benefit goods and services which could not otherwise be accessed through lack of means.

Innercycle CIO 71–75 Shelton Street | Covent Garden | London WC2H 9JQ UK Tel: [phone] | Email: [e-mail] | Web: www.innercycle.org Charity registered in England & Wales 1179976

Page 1 of 4

Activities

Dependent upon ad-hoc volunteering, pandemic lockdown measures continue to adversely impact scope for operational activity: suspended indefinitely to ensure the well-being and safety of all involved and to protect limited resources.

Donations during the period amounted to just £93.06, falling substantially compared with already negligible resourcing in 2020.

The CIO holds organisational membership of professional bodies and throughout the period continued to liaise with local authorities, healthcare organisations, established charities, community groups and experts.

Innercycle has developed a strategy for development of provision that addresses each of the areas of need. Yet, the immediate goals remain volunteer retention with a view to expanding recruitment, preserving infrastructure, and garnering sustainable resourcing to enable the charity’s objectives.

Operational status | Governance Risk Management

The Trustees and the unsalaried Chief Executive offer their heartfelt thanks to the charity’s donors, sponsors, volunteers and supporters.

Year-on-year disbursements reduced from £3,450 to £1,260 (rounded figures), covered by surplus accrued during the 2019-20 and 2020-21 to-date periods. £4,018 the current account balance as at 31 March 2021.

The Chief Executive secured renewals of concessionary pricing and gratis in-kind supplier support.

It was decided that virtual dormancy should continue, to enable future fundraising efforts and scope for activity. The anticipated easing of lockdown restrictions later in 2021 ideally presents opportunities for fundraising events and potential to generate other forms of sufficient funding, that would allow the charity to fully restore the rosters and to revisit planning to run intended projects.

The Chair of the Board of Trustees Innercycle 31 March 2021

Innercycle CIO 71–75 Shelton Street | Covent Garden | London WC2H 9JQ UK Tel: [phone] | Email: [e-mail] | Web: www.innercycle.org Charity registered in England & Wales 1179976

Page 2 of 4

Innercycle

Charity Commission Registration Number 1179976 Balance Sheet - Detail

As at March 31, 2021

Current Assets Cash At Bank And In Hand APS Cash Plus Business Account Creditors Other Creditors Accruals & Deferred Income Net Assets Funds & Reserves Retained Funds Unrestricted Fund Accumulated Funds Funds Provided	4,018.71 -220.00
	3,798.71 4,966.54 -1,167.83
	3,798.71

Page 3 of 4Page 1 of 1

2/8/2021

Innercycle Statement of Financial Activities (Income & Expense) April 1, 2020 to March 31, 2021

Income Income and Endowments 1. Income from Grants and Donations 1B Donations Donations via iZettle/Giving Platforms Total Income Expenses Expenditure 3. Expenditure on Charity Management & Admin Bank Charges and Fees Bookeeping and Accountancy Services Compliance Fees & Subscriptions Printing & Design Website Total Expenses Net Resource Movement Net Movement in Funds Total Funds Brought Forward Total Funds Carried Forward *	Unrestricted 93.06	Restricted	Endowment	Total 93.06
	93.06 115.20 72.02 440.00 85.00 327.46 23.88 197.33	0.00	0.00	93.06 115.20 72.02 440.00 85.00 327.46 23.88 197.33
	1,260.89	0.00	0.00	1,260.89
	-1,167.83	0.00	0.00	-1,167.83
	-1,167.83	0.00	0.00	-1,167.83
	4,966.54	0.00	0.00	4,966.54
	3,798.71	0.00	0.00	3,798.71

• Figure reflects accrual charges from 2019-20

Page 4 of 4Page 1 of 1

2/8/2021