The Trustees of Devon Freewheelers are pleased to present our annual report and financial statement for the year ended 31st October 2024. Trustee Annual Report Oct 2023- Oct 2024 Devon Freewheelers, Registered Charity 1180264
Trustees, Report For the Year Ended 31st October 2024 Foreword: The Trustees of Devon Freewheelers, a Registered Charity Number 1180264, which is registered to operate within England & Wale5 from t1r re8lStered office.. Unit I, Gloucester Court, Gloucester Close. Heathpark Industrial Estate, Honlton. Devon, EX14 ISJ are deliBhted to present our annual report and financial statements for the year ended 31" October 2024. The Trustees would like to recognise stakeholders, the patlents, our funders, and the publlc and thank them for all the support over the last year. Due to an exceptional year covering the period of 2023- 2024 It has been a hard year for all after the charity had to comply with a full external audlt by an independent body as stated in last rep)rt which was approved by the Charlty Commission. The trustee ¢ontinues to work with the appointed accountants and the Charity Commi$5ion In accordance with the Charity Commission's Statement of Recommended Prartice I'SORP'I. to improve the charity 80in8 forward in this financial year. Thankfully, previous years have been an exception to the normal, and we do not foresee that we shall ever exceed the threshold, $0 do not envisage that we shall experience delays in the future in uploadlng of our end of year accounts. The trustees ènd volunteers wel¢ome all new changes and policies put in place and look forward to new fresh ideas to move the charity forward. The trustees would like to thank the public, our Stakeholders and the charity commlssion for their patience and assistance in workin8 With us whilst we complied with our legol obligations. Continuance of our learning experiences from the Previous year. the trustees have decided to - appoint the same accountants and auditors for this years. financial Statement and we recognise and thank our colleagues at Lite Tax• for their efforts in completing this report. Signed- Russell Roe Ichairl Governance The financial statements have been prepared in accordante with the accounting policie5 set out in note to the financial statements and compty with the charity's governing document, the Charitie5 Ac.t 2011 and "Accounting and Reporting by Charities- Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ine UK and Republic of Ireland IFRS 1021" leffeetive l January 20211. Trustee Annual Report Year End Oct 2024-APPROVED
Objectives and Artlvltles The object5 of the CIO are: To relieve sickness and protect health by the provision of transport of any urgently needed medical requirements primarily but not exclusively in the counties of Devon & Cornwall. In the case of transport of Human Tlssue for the purposes of transplant this includes the whole of the United Kingdom. The relief of those in need. by means of youth, age. ill health, financial hardship, or any other disadvantage by the provision of 8rants. The trustees hove poid due regard to guidonte issuedby the Chority Commission in deciding whot octivities the chority should undertoke. These objectives are delivered by Devon Freewheelers, a registered charity 1180264. registered by the Charity Commission io provide its services in England and Wales Achievements & Performance The objectives are delivered primarily by our volunteer network and two members of staff, who are spread throughout the county normally split into north, south, east, and west re8ions of the County of Devon. The operational bases are Plymouth. Torbay, Honiton IHQI and Barnstaple with clusters of volunteers serving their primary care trusts and all their satellite hospitals under their control on a 24hrs a day. 7 days a week basis. These services are provided by different teams within the or8anisation. The volunteers have been continuin8 to provide their service5 round the clock, on the front line. New services and initiatives are always on the horizon. increasin8 their workload, but equallv increasing our service to our clients, the people of Devon. The charity also in this financial has advertised In local ma8azine that reach far and wide in the Devon area, and in hospital magazine like the official magazine of radio for Plymouth and Torbay which is all year-round covera8e for the charity. Hopefully this information will filter throu8h allowing the public to understand on what the charity is all about, and why the army of volunteers give up their time for free to help the NHS and the local community all this at no cost to the NHS. TTVStee Annval Rèport Year End Oct 2024-APPROVED
Iq) involved Russell Roe {Chairlsays". "l am delighted and proud to have been able to do everythin8 we could to serve those in need. There have been si8nificant changes wrthin the few years. and if it wasn't for our Stakeholders, the patients, our funders. and the public.. our mission would have been near Imposslble. I would like to express my total 8ratitude to all the volunteers. their families, the publlc, and patients we serve". Also, over the past few years our Trustees have work tirele551y with the volunteers & the Charity Commission. "We are all extremely proud to be part of Devon Freewheelers. It has been a bit of a battle for the charrty over the last year, especially for the volunteers who all pulled together to make the charity successful, says Russell Roe. Hlstory.. The bi88est and most important aspect of service delivery is by our motorrycle riders. Commonly referred to as 'blood bikers,; this team of invaluable people offer their tlme to transport whole blood for transfusion, blood products to air ambulances, blood samples for testing, medications, patient notes. donor breast milk and human tissue samples for the purposes of transplant and any other medical requirement that frts on the bike,. voluntarily. This service absolutely saves lives, potentially every day. A service that we are proud to have been deliverin8 to the public since 2009. In addition to the blood bike services. we have additional services to Doctor Surgeries in the county. All these services are now provided free of charge by our blood bikes. Air Ambulance Charities are now also benefiting from the services of Devon Freewheelers. The Trustees were first approached by the Dorset and Somerset Air Ambulance Trust with an enquiry as to whether it would be possible to supply whole blood to the aircraft to allow for blood transfusions to be administered at the scene of a crrtical care incident. With Dr Ian Mew, Director ofTrauma Care at the Dorset County Hospital, and one of the Critical Care Trustee Annval Repon Year End Oct 2024-APPROVED
Doctors on board the aircraft setting out what he needed. Daniel approached some partners and successfully arranged all the necessary funding to launch the service. Initially, the service was run out of our Honiton headquarters for over a year, racking up approx. I,(MJ) miles per week and in the first 12 months was instrumental in the saving of 31 lives on board the aircraft who without the transfusion. would have died. The aircraft. based at the Henstridge Airfield and serviced by blood from Dorset County Hospital needed a dedicated team to reduce our costs. A recruitment drive took place, and a new team of volunteers were recruited in Dorset, and they now service the air ambulance with all the necessary equipment supplied by Devon Freewheelers and their partner Henry Surtees Foundation, who offered the charity a free vehicle to run the service. The project has been so successful. Dorset & Somerset Alr Ambulance NHS Trust recognised the charity work by have the Devon Freewheelers1080 placed directly above the door. We are immensely proud that lives are saved every year, thanks to the work of Devon Freewheelers. Testlmonlal: Approved for release by Dorset & Somerset Alr Ambulance Dorset and Somerset Air Ambulance Medical Lead, Dr. Phil Hyde said: Yhe Dorset and Somerset Air Ambulance IDSAAI Critical Care Team 8ive blood products to approximately 30 severely injured patients per year. The chance of life that these products provide is enabled by the incredible support of Devon Freewheelers. Since the summer of 2016, the Devon Freewheelers have ensured that blood products are regularly and reliably delivered to the DSAA Clinical Team. Their voluntary work is inspiring and life chan8ing, and they form an essential link in the chain of survival for the most injured adults and children in the Southwest." Devon Alr Ambulance were soon to follow in the footsteps of the Dorset and Somerset Collea8ues and approached the charity to offer the similar service to them. Obviously, it goes without contemplation that the charity would do anythin8 to assist the people of Devon and a new service was launched to two helicopters of the Devon Air Ambulance in 2018, again completely free of charge and at no cost to the Air Ambulance charities or the patients, or the NHS. Even through the pandemic, all these lifesaving services continued without interruption. The NICU Blood Bikes (Neonatal Intensive Care Unit dedicated services) are a regular service user in the transportation, collection, and delivery of Donor Breast Milk I'DBM"}. NICU Blood Bikes in partnership with Devon Freewheelers can stock neonatal intensive care units throughout Devon & Cornwall during the working day with a relay service from Bristol. Trtsstee Annual Report Year End Ott 2024-APPROVED
Devon Freewheelers Utilises our 4 wheeled vehicles (cars & vans) to take on stock for every neonatal unit in Devon & Cornwall and delivers their stocks. completely free of charge. Thls service requirement is a minimum of a large monthly initial stock, further supported with home collections from donor mothers who donate unwanted breast milk. This product falls under the auspices of the Human Tissue Act and once again is instrumental in saving the life of a premature baby. The value of this sen4ice and in fart all the other services we provide are immeasurable. AII NICU services are provided by volunteers, at no cost to the service user, the hosplt31, the patient, or the NHS. Lives strugglin8 from their first breathe supported and assisted by our "hidden hero's Flnanclal Review (FR): We would like to thank the accountant for all their assistance in the preparation and audit of our annual accounts. Our continued thanks to.. Mr Paul Llght MBA ACMA CGMA Lite Tax ' Accountants Re-appointed for next financial year. It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month's expenditure. The trustees considers that reserves at this level will ensure that, in the event of a sl8nificant drop I'significant event,) in fundin& they will be able to continue the ch3rit¢s current actlvities while consideration is given to Ways in whlch additional funds may be raised. This level of reserves has been maintained throu8hout the year. FR Sl8nlflcant Event5: The principal risk and uncertainty of the charity is that the operational funds are usually provided from public donation and Corporate support. Our management and strategy of any identifiable 'significant event, was the management of services offered so that they do not leave the or8anisation in an insolvent position. Over the last decade, as with many blood bike charities, operational capacity is usually described as hand to mouth. As an unre8ulated activity. each charity operates independently as to how this strategy is achieved. Trustee Annual Report Year End Oct 2024-APPROVED
It is the responsibility of the trustees to continually monitor and evaluate risks on a regular basis to ensure signrficant events are identified early and formulate a response to reduce that risk. FR Reserves pollcy 2018 Devon Freewheelers completed a major move into a new property leased 2018 for the purpose of delivering our services. Our reserves policy to hold £IOOk had not been achieved. 2023 - 2024 Reserves policy has been achieved FR Investment pollcy 2023-2024 The charity is still actively investigating into the property market to invest in a property. FR Strurture, GovernantÈ and Mana8ement The charity is registered as a charitable incorporated organisation ICIOI. re8iStered number 1180264, and is constituted under a Trust deed. The charity does not trade under any other names, however, 15 known as'Devon Blood 8ikes' informally since its foundation on the 6th November 2009. The members of the trustees who served during the year and up to the date of si8nature of the financial statements werè: Chair: Mr Russell Roe IRRI Trustee.. Mr James Robinson (JR) Trustee: Mr Paul Richards {PRI Trustee: Ms Wendy Charnock IWCI IC of l Notice on file} io. (i) Appolntment of eharlty trustees (from the constltutlon) Apart from the first charity trustees, every trustee must be appointed for a term of one year by resolution passed at a properly convened meeting of the charity trustees and approved by the Chairman or Chairperson In selecting individuals for appointment as charity trustees. the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of Devon Freewheelers. the CIO (21 ii. Information for new charlty trustees The charity trustees will make available to each new charity trustee, on or before his or her appointment.. lal A copy of the current version of this constitution: and Ibl A copy of the CIO'S latest Trustees. Annual Report and Statement of AccoiJnt5 Trustee Annual Report Year End Oct 2024-APPROVED
FR Confllct of Interest.. The charity ha5 an effective policy to manage conflict of interest (C of l) in its decision making and the appointment of a trustee orthird-party provider. Conflicts of interest are declared in this report and are managed in accordance with that policy. All minutes of meetings clearly identify conflict mana8ement processes are practiced prior to a general meeting taking place. A file on conflict-of-interest notices is maintained and available for inspection. Conflict of interest notices are submitted regarding PR {Paul Richards Motorsl. A revlew of the conflict mana8ement (Trustees) is satisfied that operational procedures are in place and followed, a contact has been drawn up between Paul Rlchards Motors & Devon Freewheelers and sent to Charity Commisslon to review. The CIO has full control of the appointment of trustees and is not influenced by any external body or or8ani5ation. Each trustee is assessed for their skills and expertise in the operational need5 of the charity. The constitution allows a trustee to receive remuneration for an ernployed position wlthin the charity and as such declaration is made with the approval of the Charity Commission Charities Act 2011 and subjerted to independent assessment wlth the assistance of the National Council for Voluntary Organisations "(NO40"l and the Association of Chief Executives for Voluntary Organisation51"ACEVO") by whlch the charitv has agreed to accept their 8uidance and recommendations in the Roles and Respon5ibillties. FR Volunteer & Fundralsln8 Standards The Charity recognises its obll8ations to protect and serve the public in a safe and responsible manner in both delivery of its objective and in fundraisin8 Standards. To achieve that the charity complies with multiple International Standards for Quality Mana8ement, Management of (kcupational Health & Safety and Management of Environmental impact, Processes are demonstrated with recruitment procedures to ensure all applications to the charity are from fit and proper persons, supported by reference checkin8 and voluntary disclosure and barring checks to the enhanced level to protect vulnerable adults and children. In addition, the charity has also achieved the 'Charity Excellence, framework for the second year runnin& for fundraising standards and has received no complaints from the public in its fundraising activities. Trusiee Annual Rert Year End Od 2024-APPROVED
Addltlonal Disclosures: Where opplicable hos the entity disclosed the existence and corrying amounts of property, plant, ond equipment to which the entity hos restricted title or thot is pledged 05 5ecurityfor liobilitie5P There are no additional disclosures. Future Plans The Charity aims to continue in the delivery of its current objettive and does not plan to alter direction in the forthcoming year. Statement of trustees, responslbillties The trustees are responsible for preparing the trustees, Report and the financial statements in accordance with applicable13w and United Kingdom Accountin8 Standards (United Kingdom Generally Accepted Accountin8 Practice}. The law applicable to charities in England and Wales requires the trustees to prepare financlal statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incomin8 resources and application of resources of the charity for that year. In preparin8 these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP. make jud8ements and estimates that are reasonable and prudent. State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accountin8 records that disclose with reasonable accuracy at any time the financial position of the charity and enable it to ensure that the financial statements comply with the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provisions of the trust deed. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees, report for the year ended 31" October 2024 was approved by the Trustees. Trustee Annu31 Report Year End Ocl 2024-APPROVED
Mr Russell Roe Responsible to the Trustees for the period. Oct 2023- Oct 2024 End of Statement Trustee Annual Report Year End Oct 2024-APPROVED
Devon Freewheelers For and on behalf of Oevon Freewheelers (Cha Authorised Signatory.. Name.. Russell Roe Date: 1462"201s- For and on behalf of For and on behalf of For and on behalf of TRUSTEE TRLISTEE TRUSTEE Authorised Slgnatory.. Authorised Signatory: Authorised Si8natory: Name.. James Robinson Name.. Paul Richards Name.. Wendy Charnock Date- Ji13 Date: Date:
DEVON FREEWHEELERS INDEPENDENT EXAMINERS REPORT 2024 Independent exarniner's report to the Trustees of Devon Freewheelers {'the tharlty,) I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 October 2024 Responslbllities and basls ol report As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the 2011 Art'l. I report in respect of my examination of the charitvs accounts conducted under section 145 of the 2011 Act and in conducting my examination I have followed the applicable Directions given by the Charity Commission under section 14515llb) of the 2011 Act. Independent Examlner's Statement The charity's gross commission for the year did not exceed £250,LI)O however the examiner is a member of a body listed in section 145 of the 2011 Act. I confirm that I èm qualified to undertake the examination because l am a member of the CIMA which is one of the listed bodies. Your attention 15 drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charitie5: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland {FRS 1021 in preference to the Accountin8 and Reporting by Charities.- Statement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginnin8 on or after l November 2023.1 have completed my examination. I confirm that no matters have come to my attention in connection with the examination givin8 me cause to believe that in any material respect.. accounting records were not kept in respect of the chaf ity as required by section 130 of the 2011 Act,. or the accounts do not accord with those records- or the accounts do not comply with the applicable requirements concernin8 the form and content of accounts set out in the Charities (Accounts and Reports) Regulation5 2Crf)8 other than any requirement that the accounts give a'true and fair. view which is not a matterconsidered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the CharitieslAccounts and Reports) Regulations 2IX)8. My work has been undertaken so that I might state to the charity's Trustees those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. Si8ned .. Dated 1413/2025 PQbLL Light Paul U8ht MBAACNIACGMA Llte Tax Ltd
DEVON FREEWHEELERS STATEMENT OF FINANaAL AcfiviTIE5 FOR YEAR ENDED 31 OCTOBER 2024 Note Unrestrlcted Funds Restricted Funds Total Fund5 Income From Donatlans, Legacles and Grants 115.495 140,495 CharStsble ArtS¥ltles Total Income 115.495 25,000 140,495 Total Expendlture 177,465 177,465 Net GaSn5 on Investments Net Movement In Funds {61,970) 25,(MXI (36,970} The statement of financial activities includes all gains and losses recognised in the year. The notes on pages 16 to 22 form part of these financial statements.
DEVON FREEWHEELERS BALANCE SHEET FOR YEAR ENDED 31 OCTOBER 2024 Note Flxed Assets Intsn8lble Assets Tanglble Atsets io 60,163 60.163 Current Assets Debtors Cash at Bank li 35,254 8504 43,758 Credltofs". amounts falllng due In one year 12 22,250 Net Current Assets 21.508 Total Assets Less Current Uabllltles 81,671 Lon8 Temi FlnanclTr8 15,557 Total Assets 66,114 Charlty Funds Re5trScted funds Unrestrlrted Funds 15,206 50,908 66.114 The flnanclal statements were approved and authorlsed for Issue by the Trustees on and sl8ned on thelr behalf by. R.Roe Chalrman The notes on pages 16 to 22 form part of these financial statement5.
DEVON FREEWHEELERS NOTES TO THE FINANaAL STATEMENTS FOR YEAR ENDING 31 00BER 2024 l - General Information Devon Freewheelers is a Charitable Incorporated Organisation gistered in England & Wales. Its office address is Unit l. Gloucester Court, Gloucester Crescent, Heathpark Industrial Estate, Honiton. Devon, EX14 ISJ. 2- A¢countln8 Pollcles 2.1 Ba51s of preparatlon of Ilnanclal statements The financlal statements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charilies (Accounts and Reports) Regulation$ 2CK)8 only to the extent required to provide a 'true and fair, vlew. This departure has involved followin8 the Charities SORP IFRS 1021 published on 16 July 2014 rather than the Accounting and Reportin8 by Charities.. Statement of Recommended Practice effective from l April 2(X15 which has since been withdrawn. Devon Freewheelers meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical c05t or transaction value unless Otherwise stated in the relevant accounting policy. 2.2 Income All Income is reco8nised once the charity has entitlement to the income. it Is probable that the income will be received. and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement. the probability of receipt and the ability to estimate with suffitient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the charily has sufficient evidence that a gift has been left to them Ithrough knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be reteived and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the charity, can be reliably measured.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period 15 shown in the relevant funds on the Balance sheet. Where income is recerved in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. whe entitlement occurs before income is received. the income is accrued. 2.3 ExpendSture Expenditure is recognised once there is a legal or constructFve obligation to transfer etonomk benefit to a third party. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each artivity. Direct costs attributable to a single activity are allocated directly to that activity- Shared costs which contribute to more than one activity and support Costs which are not attributable to a single activity are apportK*ned between those activities on o basis consistent with the use of resources. Central staff t05ts are allocated on the basls of time spent, and depreciatron char8es allocated on the portion of the asset's use. E¥penditure on charitable activities 15 incurred on directly undertaking the activities which lurther the charity's objectives, as well as any associated support costs. All expenditure Is inclusive of irrecoverable VAT. 2.4 Inter•st recelvable Interest on funds held on deposit Is included when receivable and the amount can be measured reliably by the charlty, this is normally upon notrfication of the interest paid or payable by the Institution with whom the funds are deposited. 2.5 Intanglbl• as••t• and amortlsatlon Intangible assets are inrtially recognised at cost. After recognition, under the cost model, intangible assets are measured at Cost less any accumulated amortisation and any accumulated impairment losses. At each reporting date the charity assesses whether there Is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less c05t5 to sell and its value in use. An impairnient Ioss is recognised where the tarrying amount exceed5 Ihe recoverable amount. Amortisation is provided on intan8ible assets at rates calculated to write off the cost of each asset on a strai8ht-line basis over its experted useful life. The estimated useful lives are as follows and amortisation is applied on this basls Website - 20 % straight line
2.6 Tangible fixed assets and depreclation Tangible fixed assets costing £3 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed èssets are measured at cost less accumulèted depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their resldual value over their estimated useful INes. using the straight.line method. Depreciation is provided on the following basis: Plant and machinery Motor vehicles Fixtures and fittings Office equipment 2.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a Short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.9 Llabllltles and pro¥lslons Liabilities are recognised when there is an obligatlon at the Balance sheet date as a result of a past event, li is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliablv. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Staternent of financial activities as a finance cost.
2.10 Flnancial Snstwments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instrurnents are initially reco8ni5ed at transaction value and subsequently measured at their settlement value with the exceptron of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.11 Flnance leases and hire purchase A55ets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed asse15. Assets acquired by finance lease are depreciated over the shorter of the lease term and thelr useful live5. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the charity. Obllgations under such a8reements are included in creditors, net of the finance charge allocated to fulure periods. The finance element of the rental payment 15 charged to the Statement of financial activities so as to produce a constant periodic rate of charge on the net obligation outstanding In each period. 2.12 Penslons The charity operates a defined contribution pension scheme, and the penston charBe represents the amounts payable by the charity to the fund in respect of the year. 2.13 Fund attountln8 General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the 8eneral objectives of the charity and which have not been desi8nèted for other purposes. Restricted lunds are funds which are to be used in accordance with specific $trictl0n$ imposed by donors or which have been raised by the Charity for particular purp05e5. The costs of raising and odmlni5terin8 such funds are charged against the specifit fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Durin8 the year no additional funds were considered to be resirirted 3 Intome from Donatlons and Le8a¢les Unrestrirted Funds 2024 Restrirted Funds 2024 Total Fund5 2024 Donations Legacies Grants Total 115.495 25.(MX> 140,495 11SA95 25,C#XI 140,495
4 Income from Charftable Activities Unre5trirted Funds 2024 Restricted Funds 2024 Total Funds 2024 Don?tions 115.495 25,(MXI 140,495 5 Analysls of Expenditure by artlvltie5 Dlrect Support Total Tran5POrt 45,948 131,517 177,465 5.1 Analysls of Dlrert Costs Transport 45,948 Motor Expenses Consumables Volunteer Cost5 Total 45,948 5.2 Analysls of Support Costs Depreciation and Amortisation Admin Staff Rent 8uilding Maintenance & Warehousin8 Telephone, Webfleet and IT Professional Accounting Fee5 Li8ht, Power and Heating Volunteer Costs Subscriptions Fund Raisin8 Expenses Office Expenses Bank Charges Profit on sale of Vehicles Uniforms Total 57,531 25,901 25,086 3.187 2,095 2.720 5,048 2,486 8,342 763 2,415 2,323 16,5041 124 131,517 6.0 Independent exam•ners rernunerntlon Other 2,720
7.0 Wages and Salary Cost Wages and Salaries Social Security Costs Contribution to defined pension Schemes 25.901 Z5.901 The average number ofemployees was 2 The key management personnel of the charity consisted of the Executive Chaim)an who received è salary of £954 during the year. 8.0 Trustee ¢onnet¢ed transartlons Paul Rlchards, who is a trustee carries out repairs to some chartty vehicles. There is an a8reement in place. The work is performed at a market rate and has been approved at a trustee meeting. 9.0 Intanzlble Ass•ts The intangiable asset consist of the organisation website. This Is now fully amortised. 10 Tangible Flxed Assets Plant & Machlnery Motor Equlpment & VehScles Flttings Totsl Cost or Valuatlon BIFwd 2023 Additions Disposal As at 2024 54,352 5CM) 222.521 9,588 47.145 184,964 279,673 10,088 47,145 242,616 54,852 Depreciatlon BIFwd Charge 2024 Disposal DePCIatIon as at year end 36,980 12,498 116,059 44,534 30,359 130234 2.241 5(Kl 155,280 57,532 30,559 184,453 49,478 2.741 Net l)ook value 5.374 54.730 59 60,163 During the year a number of vehicle5 were disposed of and showed a profit on disposal of £6,504 io
11 Debtors- Due within I year Trade Debtors Other Debtors Total 35.254 35.254 12 Credltors- Amounts falling due in One Year Trade Creditors Other Taxation and Social Security Other Creditor5 Accruals and Deferred Income Total 4,165 85 18.C(Kl 22.250 13 Credrtors falllng Oue after more than one year Balance on Vehicles purchased on HP 15,557 14 Statement of Funds Income 140,495 ExpendIre 177,465 General Funds Balan¢e 136.9701 li
For and on behalf of Devon Freewheelers ( Authorised 18nalory.' Name= Russell Roe Date= For and on behalf of For and on behalf of For and on behalf of TRUSTEE TRUSTEE TRUSTEE Authorised Si8nat Authofised Signatory.. Authorised Signatory.. Name.. James Robinson Name: Paul Richards Name= Wendy Charnock Date.. Ajzr Date: 11+12)202 Date: 'f/. 02£