2023-03-31-accounts - Innercycle

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TRUSTEES ANNUAL REPORT AT 31 MARCH 2023

INNERCYCLE CIO – 1179976

Address

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

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

Trustees

The Chair, Steven Clarke, held office through the period.

Structure

Innercycle is a Charitable Incorporate Organisation whose only voting members are its charity trustees. When in operational status, it was governed by a Board of Trustees working to a Constitution dated 18[th] September 2018. It continues to be managed on a voluntary basis by the Chair and the unsalaried Chief Executive, working to governance documents issued by the Board. When operational, some support functions are outsourced including to a roster of accredited psychotherapists, volunteer cycle-side support workers and vocational advisors.

Trustees previously held 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. Review of appointments was undertaken prior to the 2023 Annual Report. The agreed duration of the original terms of two Trustees lapsed during the period and, in light of ongoing virtual dormancy, the decision was taken not to appoint replacements.

Reserves Policy

The CIO has not developed sufficiently for adoption of a Reserves Policy, maintained in virtual dormancy.

Public Benefit

The Chair confirms that throughout the period duty has been complied with due regard to the guidance on public benefit published by the Charity Commission in exercising powers and 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: +44 (0)20 7193 6043 | Email: support@innercycle.org | Web: www.innercycle.org Charity registered in England & Wales 1179976

Activities

Donations during the period amounted to £6, via the Amazon Smile Programme arising from the Chair and Chief Executive. Year-on-year disbursements were £6,082 (2022 £1,035) with accruals settled.

Dependent upon ad-hoc volunteering and funding, the CIO holds organisational membership of professional bodies and Innercycle has a strategy for provision that addresses the charity’s objectives.

Operational status | Governance Risk Management

Whilst cessation was considered, it was decided that virtual dormancy would remain appropriate in the foreseeable, with scope for exploring potential opportunities.

Chair Innercycle 31 March 2023

Innercycle Statement of Financial Activities (Income & Expense) April 1, 2022 to March 31, 2023

Income	Unrestricted	Restricted	Endowment	Total
Income and Endowments
1. Income from Grants and Donations
1B Donations	6			6
Total Income	6	0	0	6
Expenses
Expenditure
3. Expenditure on Management, Admin & Services	6,082			6,082
Total Expenses	6,082	0	0	6,082
Net Resource Movement	-6,076	0	0	-6,076
Net Movement in Funds	-6,076	0	0	-6,076
Total Funds Brought Forward	9,680	0	0	9,680
Total Funds Carried Forward	3,604	0	0	3,604

Innercycle

Charity Commission Registration Number 1179976 Balance Sheet - Detail

As at March 31, 2023

Current Assets
Cash At Bank And In Hand
APS Cash Plus Business Account	4,033
Creditors
Other Creditors
Accruals & Deferred Income	-429
Net Assets	3,604
Funds & Reserves
Retained Funds	9,680
Accumulated Funds (1/4/2022 - 31/3/2023)	-6,076
Funds Provided	3,604