# **Cycle Sisters Charity registration: 1183189** 

## **Trustees’ Report** 

**For the year ended 31 March 2021** 




## **Administrative Details** 

Registered Charity Number 1183189 Registered Address 9 Frinton Drive, Woodford Green, IG8 9ND Bankers NatWest Walthamstow Central 204 High Street Walthamstow London E17 7LL Board of Trustees Sarah Javaid, Chair (8 April 2019-16 September 2020) Saiyyidah Najmus-Sabah Zaidi, Treasurer; subsequently Secretary (8 April 2019- date) Emma Pajarillaga, Secretary (8 April 2019- 9 September 2020) Samra Said, Chair (17 September 2020 - date) Sabah Khan-Ahmed, Treasurer (17 September 2020 – 14 May 2021) Carolyn Axtell (14 May 2021 – date) Zainab Arian, Treasurer (14 May 2021 – date) 



## **Introduction from our Chair, Samra Said** 

Our second year operating as a charity has been an incredibly busy and challenging time – along with all other charities and organisations we experienced considerable disruptions to our services due to the global pandemic and I am proud of how our team rose to the challenge and came up with innovative ways to continue to engage and support our communities.  The Smiles & Miles virtual cycling challenge during the January lockdown was a particular highlight which kept our sisterhood of women motivated and connected during a very difficult time. 

Despite the challenges presented by Covid-19, we have been able to expand into new areas over the past 12 months, growing from 2 groups to an amazing 7 groups in different London boroughs, including branching out to West and South London and the start of a programme for teen Muslim girls.  We are very grateful for the funding and support from our funders and local authorities which enabled these new initiatives to be set up. 

Our work to increase the visibility of Muslim women cyclists in the media has also gone from strength to strength this year with a project to train a pool of spokespeople from our cycle groups and some high profile media appearances.  This strand of our work will continue to be vital as we move forward to ensure that we challenge stereotypes around who cycles and provide role models to inspire others. 

We have ended this year with an exciting new partnership with the London Marathon Charitable Trust which will enable us to further build our capacity as an organisation and set up groups in new London boroughs over the next few years.  We are excited about the opportunities that this will bring to help even more Muslim women and girls to begin on their cycling journeys. 



## **Our structure** 

This is our second year as a registered charity (CIO Association model). We are run by our trustees and members and have contractors delivering projects on a contract only basis. Our groups (currently 7 in total) are run by coordinating volunteers overseen by our staff/contractor team. They are not independently governed. 

This year, as we expanded our activities, two of our trustees stood down to take paid contractor roles managing the charity’s projects. We also recognised the need to broaden our trustee skills and appointed a new Treasurer to provide finance expertise. 

## **Key activities and achievements** 

## **1. Programmes** 

Even with the backdrop of a global pandemic throwing a shadow over the majority of our work this year, our programmes have been hugely successful in terms of building strong partnerships and securing funding that enabled us to continue to grow our work. Primarily the funding has enabled us to set up 5 new Cycle Sisters groups as well as grow the capacity of our current ones. The global pandemic and subsequent lockdowns provided both significant challenges but also exciting opportunities in terms of a growing appreciation for the importance of cycling as a solution and response to the crisis which we were able to capitalise on. Within this we were clear with our ambition to ensure that this growing trend for cycling was inclusive and reached all corners of society and specifically Muslim women. 

## **Coronavirus response:** 

In March 2020, like all other charities, cycle groups and wider organisations, we were faced with working out the implication of Covid 19 on our activities. Our rides were suspended and we turned our attention to supporting our 2 existing groups in Waltham Forest and Redbridge to keep cycling and stay engaged during lockdown. 

We adjusted delivery plans for our existing funding we had in place and introduced a number of initiatives based on feedback from members to support our riders in these unprecedented circumstances - Destination of the Week, Bike Buddies and regular Zoom calls on cycling related topics during the summer of 2020. 

We also secured funding from the **Coronavirus Community Support Fund** to provide capacity and resources to restart our led rides when it was safe to do so in September 2020. This involved training our Ride Leaders, organising PPE, adjusting our processes and Risk Assessments. We were delighted to restart rides in September in Waltham Forest and Redbridge and these continued whenever restrictions allowed between the various lockdowns. 

In January 2020 in response to the winter lockdown we introduced a 6 week virtual cycling challenge ‘Smiles and Miles’ which was introduced across all our groups and achieved significant engagement and wonderful stories of cycling journeys, families being inspired and friendships forged. In total 91 people signed up for this challenge. 




Alongside this Covid 19 response we also secured funding and delivered the following projects (listed based on the geographical areas of London we now cover): 

## **Waltham Forest** 

As our most established group our focus in Waltham Forest this year has been keeping members and volunteers engaged during lockdown, piloting new initiatives and building the capacity of our weekend Ride Leader team. In November/December 2020 we ran a Ride Leader training course and onboarded 4 new volunteers. Other projects and funding we secured included: 

## **Waltham Forest Council Community Walking and Cycling Fund 2020: Cargo Bike** 

**tryouts/Return to rides support:** This funding had been secured before the pandemic hit but we adjusted our activities in light of restrictions and to meet the needs of the group. It enabled us to offer cargo bike trials to our group members in October to broaden their experience of cycling. Alongside the funding supported us to adapt our rides in Waltham Forest to make them Covid secure. We really appreciated the support of the Council in enabling us to return to offering led rides in September 2020. 

**Sported/Girls Unite: Teen Bikers project:** The delivery of this project had to be delayed due to Covid 19 but when it was finally possible it enabled us to deliver a pilot project of led rides for Muslim teenage girls to address the low levels of cycling and high inactivity levels. The pilot has been hugely successful and we hope to be able to continue it and expand to other boroughs in the near future. 

## **Redbridge** 

Our second Cycle Sisters group is funded by a 3 year grant from **Walking and Cycling Grants London/TfL** and support from **Redbridge Council** and had been set up in January 2020. Despite the challenges of numerous lockdowns this group has gone from strength to strength during this year.  In October 2020 we trained 5 volunteer Ride Leaders who were riders from the group who have gone on to lead weekly rides whenever the restrictions have allowed.  We now have 188 members in the Whatsapp group size. 

## **New groups** 

In the midst of the Coronavirus pandemic we saw a passion for cycling emerge and a huge increase in the interest in our work. Several volunteers emerged keen to start up  Cycle Sisters group in their area. We decided to grasp this opportunity, identified group leads in 5 areas and applied for funding for the set up costs for each of the groups. We successfully secured this funding for all of the groups. Here is a summary of their progress to date. 

**Hounslow** : Our Hounslow group set up was funded by **Sported** with money from S **port England Tackling Inequalities Fund.** The group started informal rides in July 2020 and a group of 5 trainee Ride Leaders were identified. They completed their initial Ride Leader training in December 2020. The  training was then put on hold due to the winter lockdown and resumed at the end of March 2020. They will start formal rides in the next financial year. 



The group has strong support from **Hounslow Council** who has committed to funding future Ride Leader training and we also secured a grant from the **Comic Relief Community Fund** to support the booking software requirements of our groups and additional Ride Leader training in Hounslow. Borrowed bikes have been made available with support from Osterley Park, National Trust. 

**Newham:** Our Newham group was funded by **London Sport** with money from **Sport England Tackling Inequalities Fund.** In autumn 2020 they advertised for Ride Leaders and identified a team of 6 who were due to complete their Ride Leader in December before lockdown hit. We are looking to reschedule the training in the next financial year and start formal rides soon after. The Newham group is  supported by **Newham Council** who funded Viewtube to provide free bikes for the rides. 

**Tower Hamlets:** Our Tower Hamlets group has been funded by **Hubbub** . Hubbub have organised a number of community engagement activities to encourage cycling in the local area and as part of this have funded the set up of Cycle Sisters Tower Hamlets group. We recruited a Project Manager (on a contractor basis) to manage this project and in autumn 2020 they advertised for Ride Leaders and identified a team of 5 who were due to complete their Ride Leader in December before lockdown hit. We are looking to reschedule the training in the next financial year and start formal rides soon after. 

**Hackney:** Our Hackney group has been funded by the **Covid 19 London Community Response Fund** . They identified a team of 5 Ride Leaders to train in autumn 2020. The training was delayed due to the winter lockdown but they completed this and other elements of their Ride Leader training at the end of March 2021 just as lockdown lifted. They will start formal rides in the next financial year. 

**Croydon:** In Croydon we successfully secured **Walking and Cycling Grants London/TfL** funding in December 2020 for a 1 year project to train Ride Leaders and set up a group. The group had already started informal rides and we started the process of Ride Leader recruitment in early 2021 and identified a group of 5 trainee Ride Leaders. Their Ride Leader training has also been postponed due to lockdowns and we are looking for them to start formal rides in early summer 2021. 

Alongside these new group we also successfully secured capacity building funding from Foyle Foundation to support our core costs and a capacity building project to implement software and training to our groups. This funding was received at the end of this financial year and activities will be delivered next year. 

Going forwards into the next financial year we are in a strong position with funding in place for our current groups and for capacity building projects.  We were delighted to secure a grant from London Marathon Charitable Trust which will enable us to develop online training modules for those looking to set up a Cycle Sisters group and test this system with new groups. This, alongside our Foyle Foundation grant, will also support us to strengthen our systems and processes to enable us to scalpe up our operations in the future. 

## **2. Representation and partnership work** 

This year we also focussed on strengthening our ability to be a leading voice within the cycling world to ensure greater representation of Muslim women cyclists  in mainstream media and intiatives. 



Central to this was a project we undertook in partnership with **Sustrans** with funding from **London Sport** to upskill a group of our volunteer Ride Leaders with ‘Spokesperson and Media training’. They attended a series of Zoom sessions and completed the course by making a video about their own cycling journey which we released on social media (as part of our ongoing series of Sisters Stories). 

This group will form a pool of trained media spokespeople who attend events on our behalf and represent Cycle Sisters in different ways. They have developed skills to tell their stories and provide relatable role models for others to be inspired by. 

Alongside this we have also secured a number of high profile media appearance including: 

- Interview about our work on Radio 4 

- Feature on Cycle Sisters on Sunday Morning Live, BBC 1 which involved an interview with our CEO and 2 Ride Leaders 

- TfL joined one of our rides and made a video about our work which was promoted on their social media channels 

- Radio Ramadan interviewed once of our trustees 

- Continued strong partnership with Cycling UK which means over the last year they have featured our work on a number of occasions and called upon us to attend events eg. Diversity in Cycling panel, feature on cycling in Jilbaab in their magazine etc. 

This year we also strengthened our social media presence by increasing our number of followers, set up a YouTube channel and launched our website. 

This year we forged a strong partnership with **British Cycling** and are now delivering our volunteer Ride Leader training through them with one of our team training to be a Ride Leader tutor which will enable us to deliver high quality, culturally sensitive Ride Leader training to our groups. 

We have continued to build strong partnerships with other key organisations within the cycling, active travel and sports development sectors. These include **Sported** , **London Sport, Cycling UK, TfL, Sustrans, Evolve, Muslimah Sports Association** and **London Cycling Campaign.** We have also worked closely with cycle training providers in the boroughs we work in - **Cycle Confident, Bikeworks** and **Cycling Instructor** and their support has been invaluable. We would also like to thank all the **councils** in the boroughs that we are working within who provide incredible  support through access to bikes and other initiatives. Other organisations we would like to thank for their contribution to our work this year are: **Safe 4 All** for running our volunteer first aid courses, **Viewtube** who provide access to bikes in Newham, **Osterley Park, National Trust** who have committed to provide free access to bikes in Hounslow, **St Stephens Health Centre** for providing bike storage in Tower Hamlets, **A and S Cycles** in Hackney for their bike maintenance support, **Cycle Chic** and **Cycle Spirit** for donating prizes for the Smiles & Miles challenge. 



## **Financial review** 

The financial position of the charity at 31 March 2021 and comparatives for the prior period can be summarised as follows:- 

||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|**Net income after tax in the financial year**|**25,137**|**6,862**|
|Unrestricted Revenue Funds available for the|5,001|3,158|
|general purpose of the charity|||
|Restricted Revenue Funds|26 998|3,704|
|**Total Funds**|**31,999**|**6,862**|



_A more detailed breakdown of the above can be found in the charities full set of accounts along with the Independent Examiners report_ 

## _**Financial Review of the position at the reporting date 31 March 2021**_ 

The financial year saw many challenges due to the global pandemic; the charity remained financially strong during the period and saw growth with several new projects coming on-line. The increased uptake of cycling within the local communities Cycle Sisters operated within provided a great opportunity for the charity to expand its user base. 

Not only was the charity able to continue its work during the pandemic but the impact of the group was seen by national organisations which enabled the charity to secure grant funding for expansion into London Boroughs which were not currently served by existing groups. 

The charity will continue to look at opportunities to develop its offer for local communities during the coming years. 

## _**Policies on reserves**_ 

The Trustees have considered the ongoing obligations and have concluded that the free reserves available should be between £3,000 to £4,000. Although they anticipate continued growth and support, this margin would allow them to continue a full programme of activities during a period of economic downturn which would adversely affect the resources available. Should free reserves exceed £9,000 the excess will be applied in accordance with the strategic plan to further the objects of the charity. 



The Charity Registration Number is :- 1183189 

CYCLE SISTERS 

Report and Accounts 

31 March 2021 



## **CYCLE SISTERS** 

## **Report and accounts for the year ended 31 March 2021** 

## **Contents** 

||**Page**||
|---|---|---|
|**Statement of directors' responsibilities**||1|
|**Independent Accountant's Report**||2 - 3|
|**_Funds Statements:-_**|||
|Statement of Financial Activities||4|
|Statement of Financial Activities - Prior Year statement||5|
|Movements in funds||6|
|Revenue Funds||6|
|Fixed Asset funds||6|
|Summary of funds||6|
|Income and Expenditure account||7|
|**Balance sheet**||8|
|**Notes to the accounts**||9 - 14|
|**Detailed Analysis of Income & Expenditure**||15 - 18|
|**Activity Analysis of Income & Expenditure**||19 - 20|





## **CYCLE SISTERS** 

## **Trustees' Annual Report for the year ended 31 March 2021** 

## **Statement of Trustees' Responsibilities** 

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), . 

In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :- 

- to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 

- select suitable accounting policies and apply them consistently; 

- make judgements and estimates that are reasonable and prudent; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business; 

- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material 

- departures disclosed and explained in the financial statements; 

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year. 

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. They are 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 are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements. 

This report was approved by the board of trustees on 1 December 2021. 


## **SAMRA SAID** 

Trustee 

1 



## **CYCLE SISTERS** 

## **Report of the Independent Examiner to the Trustees of the charity on the accounts for the year ended 31 March 2021** 

I report to the Trustees on my examination of the financial statements of the charity on pages 4 to 20 for the year ended 31 March 2021 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) and under the historical cost convention and the accounting policies set out on page 9. 

## **Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report** 

As described on page 1, you, the charity's Trustees, are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view. 

The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination. 

Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:- 

a) examine the financial statements of the charity under Section 145 of the Act; 

b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Basis of Independent Examiner's Statement and scope of work undertaken** 

I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP. 

The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide 

Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below. 

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters. 

2 



## **CYCLE SISTERS** 

## **Independent Examiner's Statement, Report and Opinion** 

Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:- 

This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable; 

and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:- 

accounting records were not kept in respect of the charity as required by with Section 130 of The Charities Act 2011; 

the financial statements do not accord with those records; or 

the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view, which is not a matter considered as part of an independent examination; 

have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP). 

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 financial statements to be reached. 

## **Signed:-** 


MR P. JAYAWARDENE - Independent Examiner 

Member of The Institute of Chartered Accountants 

Hamilton House 4A The Avenue London E4 9LD 

This report was signed on 1 December 2021 

3 



## **CYCLE SISTERS - Statement of Financial Activities for the year ended 31 March 2021** 

## _**Statement of Financial Activities for the year ended 31 March 2021**_ 

|**SORP**<br>**Ref**<br>**Income & Endowments from:**<br>Donations & Legacies<br>A1<br>**Total income**<br>**A**<br>**Expenditure on:**<br>Charitable activities<br>B2<br>**Total expenditure**<br>**B**<br>**Net income for the year**<br>**Net movement in funds**<br>**Reconciliation of funds:-**<br>**E**<br>**Total funds brought forward**<br>**Total funds carried forward**|<br>**Current year**<br>3,486<br>**3,486**<br>1,643<br>**1,643**<br>**1,843**<br>**1,843**<br>3,158<br>**5,001**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**|**Current year**<br>52,915<br>**52,915**<br>29,621<br>**29,621**<br>**23,294**<br>**23,294**<br>3,704<br>**26,998**<br>**Restricted**<br>**Funds**<br>**2021**<br>**£**|**Current year**<br>**56,401**<br>**56,401**<br>**31,264**<br>**31,264**<br>**25,137**<br>**25,137**<br>**6,862**<br>**31,999**<br>**Total Funds**<br>**2021**<br>**£**|**Prior Year**<br>8,283<br>**Total Funds**<br>**2020**<br>**£**|
|---|---|---|---|---|
|||||**8,283**|
|||||1,421|
|||||**1,421**|
||||||
|||||**6,862**|
|||||**6,862**<br>-|
|||||**6,862**|



The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet. 

A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses. 

All activities derive from continuing operations 

## **The notes attached on pages 9 to 14 form an integral part of these accounts.** 

4 



## **CYCLE SISTERS - Statement of Financial Activities for the year ended 31 March 2021** 

## **CYCLE SISTERS - Analysis of prior year total funds, as required by paragraph 4.2 of the SORP** 

|**SORP**<br>**Ref**<br>**Income & Endowments from:**<br>Donations & Legacies<br>A1<br>**Total income**<br>**A**<br>**Expenditure on:**<br>Charitable activities<br>B2<br>**Total expenditure**<br>**B**<br>**Net income for the year**<br>**Net movement in funds**<br>**Reconciliation of funds:-**<br>**E**<br>**Total funds brought forward**<br>**Total funds carried forward**|<br>**Prior Year**<br>3,283<br>3,283<br>125<br>**125**<br>**3,158**<br>**3,158**<br>-<br>**3,158**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**|**Prior Year**<br>5,000<br>5,000<br>1,296<br>**1,296**<br>**3,704**<br>**3,704**<br>-<br>**3,704**<br>**Restricted**<br>**Funds**<br>**2020**<br>**£**|**Prior Year**<br>**8,283**<br>**8,283**<br>**1,421**<br>**1,421**<br>**6,862**<br>**6,862**<br>**-**<br>**Total Funds**<br>**2020**<br>**£**|
|---|---|---|---|
||||**6,862**|



## **All activities derive from continuing operations** 

A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.' 

## **The notes attached on pages 9 to 14 form an integral part of these accounts.** 

5 



## **CYCLE SISTERS - Statement of Financial Activities for the year ended 31 March 2021** 

**CYCLE SISTERS - Resources applied in the year ended 31 March 2021 towards fixed assets for Charity use:-** 

|**assets for Charity use:-**||
|---|---|
|**2021**<br>**£**<br>Funds generated in the year as detailed in the SOFA<br>25,137<br>**Net resources available to fund charitable activities**<br>**25,137**<br>**Movements in revenue and capital funds for the year ended 31 March 2021**|**2020**<br>**£**<br>6,862|
||**6,862**|
|||



## **Revenue accumulated funds** 

|**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>Accumulated funds brought forward<br>3,158<br>Recognised gains and losses before<br>transfers<br>1,843<br>**5,001**<br>**Closing revenue funds**<br>**5,001**<br>**Summary of funds**<br>**Unrestricted**<br>**and**<br>**Designated funds**<br>**2021**<br>**£**<br>Revenue accumulated funds<br>5,001<br>**Total funds**<br>**5,001**|**Restricted**<br>**Funds**<br>**2021**<br>**£**<br>3,704<br>23,294<br>**26,998**<br>**26,998**<br>**Restricted**<br>**Funds**<br>**2021**<br>**£**<br>26,998<br>**26,998**|**Total**<br>**Funds**<br>**2021**<br>**£**<br>6,862<br>25,137<br>**31,999**<br>**31,999**<br>**Total**<br>**Funds**<br>**2021**<br>**£**<br>**31,999**<br>**31,999**|**Last year**<br>**Total Funds**<br>**2020**<br>**£**<br>**-**<br>6,862|
|---|---|---|---|
||||**6,862**|
||||**6,862**|
||||**Last Year**<br>**Total Funds**<br>**2020**<br>**£**<br>6,862|
||||**6,862**|



**The notes attached on pages 9 to 14 form an integral part of these accounts.** 

6 



## **CYCLE SISTERS - Statement of Financial Activities for the year ended 31 March 2021** 

## **CYCLE SISTERS** 

## **Income and Expenditure Account for the year ended 31 March 2021** 

|**_Income_**<br>Income from operations<br>**Gross income in the year before exceptional items**<br>**Gross income in the year including exceptional items**<br>**_Expenditure_**<br>Charitable expenditure, excluding depreciation and amortisation<br>**Total expenditure in the year**<br>**Net income before tax in the financial year**<br>Tax on surplus on ordinary activities<br>**Net income after tax in the financial year**<br>**Retained surplus for the financial year**<br>All activities derive from continuing operations|**2021**<br>**£**<br>56,401<br>**56,401**<br>**56,401**<br>31,264<br>**31,264**<br>**25,137**<br>-<br>**25,137**<br>**25,137**|**2020**<br>**£**<br>8,283|
|---|---|---|
|||**8,283**|
|||**8,283**|
|||1,421|
|||**1,421**|
|||**6,862**<br>-|
|||**6,862**|
|||**6,862**|
||||



The headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities. 

**The notes attached on pages 9 to 14 form an integral part of these accounts.** 

7 



## **CYCLE SISTERS - Balance Sheet as at 31 March 2021** 

|**SORP**<br>Note**Ref**<br>**Current assets**<br>B<br>Cash at bank and in hand<br>B4<br>31,999<br>**Net current assets**<br>**The total net assets of the charity**|**2021**<br>**£**<br> <br>6,862<br>31,999<br>**31,999**|**2020**<br>**£**<br> <br>6,862|
|---|---|---|
|||**6,862**|



## **The total net assets of the charity are funded by the funds of the charity, as follows:-** 

|**Restricted funds**<br>Restricted Revenue Funds<br>8<br>D2<br>26,998<br>**Unrestricted Funds**<br>Unrestricted Revenue Funds<br>8<br>D3<br>5,001<br>**Total charity funds**|<br>3,704<br>26,998<br> <br>3,158<br>5,001<br>**31,999**|<br>3,704<br>3,158|
|---|---|---|
|||**6,862**|



The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA.. 

The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts. 

The charity is subject to Independent Examination under charity legislation, and the report of the Independent 

Examiner is on pages 2 - 3. 

The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime. 


## **SAMRA SAID** 

## Trustee 

Approved by the board of trustees on 1 December 2021 

**The notes attached on pages 9 to 14 form an integral part of these accounts.** 

8 



## **CYCLE SISTERS** 

## **Notes to the Accounts for the year ended 31 March 2021** 

## **1 Accounting policies** 

## _**Policies relating to the production of the accounts.**_ 

## **Basis of preparation and accounting convention** 

The accounts have been prepared on the cash basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice. 

## **Going Concern** 

The charitable activities are entirely dependent on continuingog the voluntary donations. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern. 

## **Risks and future assumptions** 

The charity is a public benefit entity. 

## _**Policies relating to categories of income and income recognition.**_ 

## **Nature of income** 

Gross income represents the value of grants from government and public bodies, also donations received from donors. 

## **Categories of Income** 

Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income. 

**Income from exchange transactions** is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser. 

**Income from a non-exchange transaction** is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange. 

9 



## **CYCLE SISTERS** 

## **Notes to the Accounts for the year ended 31 March 2021** 

## **Income recognition** 

Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably. 

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met. 

All income is accounted for gross, before deducting any related fees or costs. 

## **Accounting for deferred income and income received in advance** 

Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met. 

Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met. 

When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met. 

Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned,and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred. 

Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable. 

## **Income from legacies** 

Income from legacies is recognised when the charity has sufficient evidence that a gift has been left to them, that where required, probate has been granted, the executor is satisfied that the property in question will not be required to satisfy claims in the estate, that it is probable that the amount will be received by the charity, and the amount to be received can be estimated with sufficient accuracy, and that any conditions attached to the legacy are either within the control of the charity or have been met. 

Where a payment is received from an estate or is notified as receivable by the executors after the reporting date and before the accounts are authorised for issue but it is clear that the payment had been agreed by the executors prior to the end of the reporting period, then the amount concerned is treated as an adjusting event and accrued as income in the accounting period if receipt is probable. 

Where the charity has established entitlement to a legacy but there is uncertainty as to the amount of the payment, details of the legacy aredisclosed as a contingent asset until the criteria for income recognition are met. Where a legacy is subject to the interest of a life tenant, the legacy is not recognised as income until the death of the life tenant. 

If it is doubtful that full settlement of a legacy debtor will be received, then an adjustment is made to reduce the amount of the legacy debtor and legacy income rather than charging the adjustment as expenditure in the Statement of Financial Activities 

10 



## **CYCLE SISTERS** 

## **Notes to the Accounts for the year ended 31 March 2021** 

## **Donated goods, facilities and services** 

**Donated fixed assets** are recognised at the current fair value. All such donations are recognised as donation income, and debited to fixed assets. 

Donated services and facilities (including seconded staff and use of property) are included in the accounts on the basis of the value of the gift to the charity. 

All donated services and facilities are recognised as donation income when received,(provided the value of the gift can be measured reliably) and recognised as an expense with an equivalent value. 

## _**Policies relating to expenditure on goods and services provided to the charity.**_ 

## **Recognition of liabilities and expenditure** 

A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated.. 

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates. 

## **Allocating costs to activities** 

Direct costs that are specifically related to an activity are allocated to that activity. Shared direct costs and support costs are apportioned between activities. 

The basis for apportionment, which is consistently applied, and proportionate to the circumstances, is :- 

**Staffing** - on the basis of time spent in connection with any particular activity. **Staffing** - on a per capita basis, based on the number of of people employed within any partiular activity. **Premises related costs** - on the proportion of floor area occupied by a particular activity. 

**Non specific support costs** - on the basis of the usage of resources, in terms of time taken, capacity used, request made or other measures 

## **Volunteers** 

In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity. 

However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note 4. 

## **Debtors** 

Debtors are measured at their recoverable amounts at the balance sheet date. 

## **Financial instruments including cash and bank balances** 

Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements. 

11 



## **CYCLE SISTERS** 

## **Notes to the Accounts for the year ended 31 March 2021** 

## **Fund Accounting** 

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. 

There are no endowment funds. 

## **2 Liability to taxation** 

The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. 

## **3 Winding up or dissolution of the charity** 

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity. 

## **4 The contribution of volunteers** 

The charity depends on the support of its volunteers, which is much appreciated. The volunteers work tireless in archiving the goals of the charity and their contributions cannot be measured. The volunteers and the charity accept and no contract of employment is created by these arrangements. 

## **5 Remuneration and payments to Trustees and persons connected with them** 

No trustees or persons connected with them received any remuneration from the charity, or any related entity. 

|**6Income and Expenditure account summary**<br>**At 1 April 2020**<br>Surplus after tax for the year<br>**At 31 March 2021**|**2021**<br>**£**<br>6,862<br>25,137|**2020**<br>**£**<br>-<br>6,862|
|---|---|---|
||**31,999**|**6,862**|



12 



## **CYCLE SISTERS** 

## **Notes to the Accounts for the year ended 31 March 2021** 

## **7 Particulars of how particular funds are represented by assets and liabilities** 

|**At 31 March 2021**<br>Current Assets<br>Current Liabilities<br>**At 1 April 2020**<br>Current Assets|**Unrestricted**<br>**funds**<br>**£**<br>**Designated**<br>**funds**<br>**£**<br>**Restricted**<br>**funds**<br>**£**<br>**Total**<br>**Funds**<br>**£**<br>5,001<br>-<br>-<br>26,998<br>-<br>-<br>**31,999**<br>**-**|
|---|---|
||**5,001**<br>**-**<br>**26,998**<br>**31,999**|
||**Unrestricted**<br>**Designated**<br>**Restricted**<br>**Total**<br>**funds**<br>**£**<br>3,158<br>**funds**<br>**£**<br>**funds**<br>**£**<br>-<br>3,704<br>**Funds**<br>**£**<br>**6,862**|
||**3,158**<br>**-**<br>**3,704**<br>**6,862**|



## **8 Change in total funds over the year as shown in Note 7 , analysed by individual funds** 

|**_Unrestricted and designated funds:-_**<br>Unrestricted Revenue Funds<br>**Total unrestricted and designated funds**<br>**_Restricted funds:-_**<br>Donations & Legacies<br>Expenditure on charitable activities<br>**Total restricted funds**<br>**Total charity funds**|**Funds brought**<br>**forward from**<br>**2020**<br>**Movement in**<br>**funds in 2021**<br>**Transfers**<br>**between**<br>**funds in 2021**<br>**Funds carried**<br>**forward to**<br>**2022**<br>**£**<br>**See Note 9**<br>**£**<br>**See Note 0**<br>**£**<br>**£**<br>3,158<br>1,843<br>**-**<br>**5,001**|
|---|---|
||**3,158**<br>**1,843**<br>**-**<br>**5,001**|
||3,704<br>52,915<br>-<br>**56,619**<br>-<br>(29,621)<br>-<br>**(29,621)**|
||**3,704**<br>**23,294**<br>**-**<br>**26,998**|
|||
||**6,862**<br>**25,137**<br>**-**<br>**31,999**|



13 



## **CYCLE SISTERS** 

## **Notes to the Accounts for the year ended 31 March 2021** 

**9 Analysis of movements in funds over the year as shown in Note 8** 

|**_Unrestricted and designated funds:-_**<br>Unrestricted Revenue Funds<br>Designated Revenue Funds<br>**_Restricted funds:-_**<br>Donations & Legacies<br>Expenditure on charitable activities|**Income**<br>**2021**<br>**£**<br>2,486<br>1,000<br>52,915<br>-|**Expenditure**<br>**2021**<br>**£**<br>(643)<br>(1,000)<br>-<br>(29,621)|**Other**<br>**Gains &**<br>**Losses**<br>**2021**<br>**£**<br>-<br>-<br>-<br>-|**Movement**<br>**in funds**<br>**2021**<br>**£**<br>**1,843**<br>**-**<br>**52,915**<br>**(29,621)**|
|---|---|---|---|---|
||**56,401**|**(31,264)**|**-**|**25,137**|



## **10 The purposes for which the funds** 

## _**Unrestricted and designated funds:-**_ 

Unrestricted Revenue Funds 

Unrestricted Revaluation Reserve 

These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use. 

This fund represents the unrestricted surplus arising on the revaluation of the charity's assets. 

## _**Restricted funds:-**_ 

Restricted Fixed Asset Funds 

Restricted Revaluation Reserve 

The purpose of these funds is described under the accounting policy 'Accounting for capital grants and fixed asset funds'. 

This fund represents the restricted surplus arising on the revaluation of the charity's assets. 

## **11 Ultimate controlling party** 

The charity is under the control of its legal members. 

14 



## **CYCLE SISTERS** 

**Detailed analysis of income and expenditure for the year ended 31 March 2021 as required by the SORP 2015** 

## _**This analysis is classsified by conventional nominal descriptions and not by activity.**_ 

**12 Donations, Grants and Legacies** 

|**Donations, Grants and Legacies**|||||
|---|---|---|---|---|
|**_Current Year_**<br>**SOFA ref**<br>**Donations and gifts from individuals**<br>Small donations individually less than £1000<br>**Total donations and gifts from**<br>**individuals**<br>**A1**|**Current year**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>124|**Current year**<br>**Restricted**<br>**Funds**<br>**2021**<br>**£**<br>-|**Current year**<br>**Total Funds**<br>**2021**<br>**£**<br>**124**<br>**124**|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>3,283|
||**124**|**-**||**3,283**|



## **Donations and gifts from individuals (Include HMRC refunds on gift aided donations) - Prior Year analysis** 

|**_Prior year_**<br>**Donations and gifts from individuals**<br>Small donations individually less than £1000<br>**Total donations and gifts from**<br>**individuals**<br>**A1**<br>**_Current Year_**<br>**SOFA ref**<br>**Revenue grants from government and**<br>**public bodies**<br>Small grants individually less than<br>£1000<br>Revenue grants grater than £1,000<br>less than £3,000<br>Revenue grants grater than £3,000<br>less than £5,000<br>Revenue grants grater than £5,000<br>less than £7,000<br>**Total public sector revenue grants A1**<br>**SOFA ref**|3,283<br>**Prior Year**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**|-<br>**Prior Year**<br>**Restricted**<br>**Funds**<br>**2020**<br>**£**|**3,283**<br>**3,283**<br>**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>5,000<br>-<br>-<br>-|
|---|---|---|---|---|
||**3,283**|**-**|||
||**Current year**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>3,362<br>-<br>-<br>-|**Current year**<br>**Restricted**<br>**Funds**<br>**2021**<br>**£**<br>2,760<br>12,812<br>25,202<br>12,141|**Current year**<br>**Total Funds**<br>**2021**<br>**£**<br>**6,122**<br>**12,812**<br>**25,202**<br>**12,141**||
||**3,362**|**52,915**|**56,277**|**5,000**|



All the grants in the prior year were unrestricted. 

15 



## **CYCLE SISTERS** 

**Detailed analysis of income and expenditure for the year ended 31 March 2021 as required by the SORP 2015** 

## **Revenue grants from government and public bodies - Prior Year analysis** 

|**_Prior Year_**<br>**Revenue grants from government and**<br>**public bodies**<br>Small grants individually less than<br>£1000<br>Revenue grants grater than £1,000<br>less than £3,000<br>Revenue grants grater than £3,000<br>less than £5,000<br>Revenue grants grater than £5,000<br>less than £7,000<br>**Total public sector revenue grants A1**<br>**SOFA ref**|-<br>-<br>-<br>-<br>**Prior Year**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**|5,000<br>-<br>-<br>-<br>**Prior Year**<br>**Restricted**<br>**Funds**<br>**2020**<br>**£**|**5,000**<br>**-**<br>**-**<br>**-**<br>**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**|
|---|---|---|---|
||**-**|**5,000**|**5,000**|



## **Total Donations, Grants and Legacies** 

|**Total Donations, Grants and Legacies**|||||
|---|---|---|---|---|
|**_Current year_**<br>**SOFA ref**<br>**Total Donations, Grants and**<br>**Legacies**<br>**A1**<br>**3,486**<br>**_Prior year_**<br>**SOFA ref**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**Legacies**<br>**13**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>**£**<br>**Total Donations, Grants and**<br>**A1**<br>**3,283**<br>**Expenditure on charitable activities - Direct spending**<br>**Current year**<br>**_Current Year_**<br>**SOFA ref**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>Direct charitable expenditure<br>-<br>**Total direct spending**<br>**B2a**<br>**-**<br>All the expenditure in the prior year was unrestricted.<br>**Prior Year**<br>**_Prior Year_**<br>**SOFA ref**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**<br>Direct charitable expenditure<br>-<br>**Total direct spending**<br>**B2a**<br>**-**|**Unrestricted**<br>**Funds**<br>**2021**<br>**£**|**Restricted**<br>**Funds**<br>**2021**<br>**£**|**Current Year**<br>**Total Funds**<br>**2021**<br>**£**|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**|
||**3,486**|**52,915**|**56,401**|**8,283**|
||**Unrestricted**<br>**Funds**<br>**2020**<br>**£**|**Restricted**<br>**Funds**<br>**2020**<br>**£**|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>**1,296**<br>**1,296**|
||**3,283**|**5,000**|**8,283**||
|||**Current year**<br>**Restricted**<br>**Funds**<br>**2021**<br>**£**<br>29,621|**Current year**<br>**Total Funds**<br>**2021**<br>**£**<br>**29,621**||
||**-**|**29,621**|**29,621**||
||**Prior Year**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**<br>-|**Prior Year**<br>**Restricted**<br>**Funds**<br>**2020**<br>**£**<br>1,296|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>**1,296**||
||**-**|**1,296**|**1,296**||



16 



## **CYCLE SISTERS** 

**Detailed analysis of income and expenditure for the year ended 31 March 2021 as required by the SORP 2015** 

**14 Support costs for charitable activities** 

|**Support costs for charitable activities**|||
|---|---|---|
|**_Current Year_**<br>**SOFA ref**<br>**_Administrative overheads_**<br>Membership subscriptions<br>Software licences and expenses<br>Liabilty and contents insurance<br>Sundry expenses<br>Training<br>**Support costs before reallocation**<br>**Total support costs - Current Year B2d**|**Current year**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>116<br>1,000<br>393<br>-<br>134|**Current year**<br>**Current year    Prior Year**<br>**Restricted**<br>**Funds**<br>**Total Funds**<br>**Total Funds**<br>**2021**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>**£**<br>-<br>**116**<br>**80**<br>-<br>**1,000**<br>**-**<br>-<br>**393**<br>**-**<br>-<br>**-**<br>-<br>**134**<br>**45**<br>**-**|
||**1,643**|**-**<br>**1,643**<br>**125**<br>**-**<br>**1,643**<br>**125**|
||**1,643**||



The basis of allocation of costs between activities is described under accounting policies 

|**_Prior Year_**<br>**SOFA ref**<br>**_Administrative overheads_**<br>Membership subscriptions<br>Sundry expenses<br>**_Support costs before reallocation_**<br>**Total support costs - Prior Year B2d**|**Prior Year**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**<br>80<br>45|**Prior Year**<br>**Restricted**<br>**Funds**<br>**2020**<br>**£**<br>-<br>-|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>**80**<br>**45**|
|---|---|---|---|
||**125**|**-**|**125**<br>**125**|
||**125**|**-**||



The basis of allocation of costs between activities is described under accounting policies 

17 



## **CYCLE SISTERS** 

**Detailed analysis of income and expenditure for the year ended 31 March 2021 as required by the SORP 2015** 

## **15 Total Charitable expenditure** 

|**Total Charitable expenditure**|||||
|---|---|---|---|---|
|**_Current Year_**<br>**SOFA ref**<br>Total direct spending<br>**B2a**<br>Total support costs<br>**B2d**<br>**Total charitable expenditure**<br>**B2**<br>**_Prior Year_**<br>**SOFA ref**<br>Total direct spending<br>**B2a**<br>Total support costs<br>**B2d**<br>**Total charitable expenditure**<br>**B2**|**Current year**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>-<br>1,643|**Current year**<br>**Restricted**<br>**Funds**<br>**2021**<br>**£**<br>29,621<br>-|**Current year**<br>**Total Funds**<br>**2021**<br>**£**<br>**29,621**<br>**1,643**<br> <br>**31,264**<br>**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>**1,296**<br>**125**|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>**1,296**<br>**125**|
||<br>**1,643**<br>**Prior Year**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**<br>-<br>125|<br>**29,621**<br>**Prior Year**<br>**Restricted**<br>**Funds**<br>**2020**<br>**£**<br>1,296<br>-||**1,421**|
||<br>**125**|**1,296**|**1,421**||



18 



## **CYCLE SISTERS** 

## **Activity analysis of Income and expenditure for the for the year ended 31 March 2021** 

## _**This analysis is classsified by activity and not by conventional nominal descriptions.**_ 

## **16 Analysis of income by activity** 

|**SOFA ref**<br>**Activity**<br>**_Summary of Total Income, including the items above_**<br>Donations & Legacies<br>**A1**<br>**Total income as shown in the SOFA**<br>**A**<br>**_Categories of income_**<br>Income from exchange transactions|**2021**<br>**2020**<br>**£**<br>**£**<br>56,401<br>8,283|
|---|---|
||**56,401**<br>**8,283**|
||56,401<br>8,283|
||**56,401**<br>**8,283**|



## **17 Analysis of charitable expenditure by activity Activity** 

|Direct costs<br>Administrative overheads<br>**Total Primary purpose and ancillary trading1**<br>**_Primary purpose and ancillary trading1_**|29,621<br>-<br>**Direct**<br>**costs**<br>**2021**<br>**£**|-<br>1,643<br>**Support**<br>**costs**<br>**2021**<br>**£**|-<br>-<br>**Grant**<br>**funding**<br>**of**<br>**activities**<br>**2021**<br>**£**|**Total**<br>**2021**<br>**£**<br>**29,621**<br>**1,643**|**Total**<br>**2020**<br>**£**<br>1,296<br>125|
|---|---|---|---|---|---|
||**29,621**|**1,643**|**-**|**31,264**|**1,421**|



## **Summary of charitable costs by activity** 

|Total Primary purpose and ancillary trading1<br>**Total charitable expenditure**|**Direct**<br>**costs**<br>**Support**<br>**costs**<br>**Grant**<br>**funding**<br>**of**<br>**Total**<br>**Total**<br>**2021**<br>**2021**<br>**2021**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>29,621<br>1,643<br>-<br>31,264<br>1,421|
|---|---|
||**29,621**<br>**1,643**<br>**-**<br>**31,264**<br>**1,421**|



The basis of allocation of costs between activities is described under accounting policies 

The breakdown of this expenditure by type of spending (ie nominal classification) is detailed in note 15 

19 



## **CYCLE SISTERS** 

## **Activity analysis of Income and expenditure for the for the year ended 31 March 2021** 

## **Analysis of support and governance costs by charitable activities** 

|**Activity**<br>Primary purpose and ancillary trading1<br>**Grand Total**|**Governance Finance**<br>**Human**<br>**Resources**<br>**Other**<br>**Overheads**<br>**Total**<br>-<br>-<br>-<br>1,643<br>1,643|
|---|---|
||-<br>-<br>-<br>1,643<br>1,643|



20 



The Charity Registration Number is :- 1183189 

CYCLE SISTERS 

Report and Accounts 

31 March 2021 



## **CYCLE SISTERS** 

## **Report and accounts for the year ended 31 March 2021** 

## **Contents** 

||**Page**||
|---|---|---|
|**Statement of directors' responsibilities**||1|
|**Independent Accountant's Report**||2 - 3|
|**_Funds Statements:-_**|||
|Statement of Financial Activities||4|
|Statement of Financial Activities - Prior Year statement||5|
|Movements in funds||6|
|Revenue Funds||6|
|Fixed Asset funds||6|
|Summary of funds||6|
|Income and Expenditure account||7|
|**Balance sheet**||8|
|**Notes to the accounts**||9 - 14|
|**Detailed Analysis of Income & Expenditure**||15 - 18|
|**Activity Analysis of Income & Expenditure**||19 - 20|





## **CYCLE SISTERS** 

## **Trustees' Annual Report for the year ended 31 March 2021** 

## **Statement of Trustees' Responsibilities** 

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), . 

In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :- 

- to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 

- select suitable accounting policies and apply them consistently; 

- make judgements and estimates that are reasonable and prudent; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business; 

- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material 

- departures disclosed and explained in the financial statements; 

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year. 

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. They are 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 are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements. 

This report was approved by the board of trustees on 1 December 2021. 


## **SAMRA SAID** 

Trustee 

1 



## **CYCLE SISTERS** 

## **Report of the Independent Examiner to the Trustees of the charity on the accounts for the year ended 31 March 2021** 

I report to the Trustees on my examination of the financial statements of the charity on pages 4 to 20 for the year ended 31 March 2021 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) and under the historical cost convention and the accounting policies set out on page 9. 

## **Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report** 

As described on page 1, you, the charity's Trustees, are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view. 

The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination. 

Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:- 

a) examine the financial statements of the charity under Section 145 of the Act; 

b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Basis of Independent Examiner's Statement and scope of work undertaken** 

I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP. 

The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide 

Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below. 

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters. 

2 



## **CYCLE SISTERS** 

## **Independent Examiner's Statement, Report and Opinion** 

Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:- 

This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable; 

and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:- 

accounting records were not kept in respect of the charity as required by with Section 130 of The Charities Act 2011; 

the financial statements do not accord with those records; or 

the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view, which is not a matter considered as part of an independent examination; 

have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP). 

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 financial statements to be reached. 

## **Signed:-** 


MR P. JAYAWARDENE - Independent Examiner 

Member of The Institute of Chartered Accountants 

Hamilton House 4A The Avenue London E4 9LD 

This report was signed on 1 December 2021 

3 



## **CYCLE SISTERS - Statement of Financial Activities for the year ended 31 March 2021** 

## _**Statement of Financial Activities for the year ended 31 March 2021**_ 

|**SORP**<br>**Ref**<br>**Income & Endowments from:**<br>Donations & Legacies<br>A1<br>**Total income**<br>**A**<br>**Expenditure on:**<br>Charitable activities<br>B2<br>**Total expenditure**<br>**B**<br>**Net income for the year**<br>**Net movement in funds**<br>**Reconciliation of funds:-**<br>**E**<br>**Total funds brought forward**<br>**Total funds carried forward**|<br>**Current year**<br>3,486<br>**3,486**<br>1,643<br>**1,643**<br>**1,843**<br>**1,843**<br>3,158<br>**5,001**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**|**Current year**<br>52,915<br>**52,915**<br>29,621<br>**29,621**<br>**23,294**<br>**23,294**<br>3,704<br>**26,998**<br>**Restricted**<br>**Funds**<br>**2021**<br>**£**|**Current year**<br>**56,401**<br>**56,401**<br>**31,264**<br>**31,264**<br>**25,137**<br>**25,137**<br>**6,862**<br>**31,999**<br>**Total Funds**<br>**2021**<br>**£**|**Prior Year**<br>8,283<br>**Total Funds**<br>**2020**<br>**£**|
|---|---|---|---|---|
|||||**8,283**|
|||||1,421|
|||||**1,421**|
||||||
|||||**6,862**|
|||||**6,862**<br>-|
|||||**6,862**|



The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet. 

A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses. 

All activities derive from continuing operations 

## **The notes attached on pages 9 to 14 form an integral part of these accounts.** 

4 



## **CYCLE SISTERS - Statement of Financial Activities for the year ended 31 March 2021** 

## **CYCLE SISTERS - Analysis of prior year total funds, as required by paragraph 4.2 of the SORP** 

|**SORP**<br>**Ref**<br>**Income & Endowments from:**<br>Donations & Legacies<br>A1<br>**Total income**<br>**A**<br>**Expenditure on:**<br>Charitable activities<br>B2<br>**Total expenditure**<br>**B**<br>**Net income for the year**<br>**Net movement in funds**<br>**Reconciliation of funds:-**<br>**E**<br>**Total funds brought forward**<br>**Total funds carried forward**|<br>**Prior Year**<br>3,283<br>3,283<br>125<br>**125**<br>**3,158**<br>**3,158**<br>-<br>**3,158**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**|**Prior Year**<br>5,000<br>5,000<br>1,296<br>**1,296**<br>**3,704**<br>**3,704**<br>-<br>**3,704**<br>**Restricted**<br>**Funds**<br>**2020**<br>**£**|**Prior Year**<br>**8,283**<br>**8,283**<br>**1,421**<br>**1,421**<br>**6,862**<br>**6,862**<br>**-**<br>**Total Funds**<br>**2020**<br>**£**|
|---|---|---|---|
||||**6,862**|



## **All activities derive from continuing operations** 

A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.' 

## **The notes attached on pages 9 to 14 form an integral part of these accounts.** 

5 



## **CYCLE SISTERS - Statement of Financial Activities for the year ended 31 March 2021** 

**CYCLE SISTERS - Resources applied in the year ended 31 March 2021 towards fixed assets for Charity use:-** 

|**assets for Charity use:-**||
|---|---|
|**2021**<br>**£**<br>Funds generated in the year as detailed in the SOFA<br>25,137<br>**Net resources available to fund charitable activities**<br>**25,137**<br>**Movements in revenue and capital funds for the year ended 31 March 2021**|**2020**<br>**£**<br>6,862|
||**6,862**|
|||



## **Revenue accumulated funds** 

|**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>Accumulated funds brought forward<br>3,158<br>Recognised gains and losses before<br>transfers<br>1,843<br>**5,001**<br>**Closing revenue funds**<br>**5,001**<br>**Summary of funds**<br>**Unrestricted**<br>**and**<br>**Designated funds**<br>**2021**<br>**£**<br>Revenue accumulated funds<br>5,001<br>**Total funds**<br>**5,001**|**Restricted**<br>**Funds**<br>**2021**<br>**£**<br>3,704<br>23,294<br>**26,998**<br>**26,998**<br>**Restricted**<br>**Funds**<br>**2021**<br>**£**<br>26,998<br>**26,998**|**Total**<br>**Funds**<br>**2021**<br>**£**<br>6,862<br>25,137<br>**31,999**<br>**31,999**<br>**Total**<br>**Funds**<br>**2021**<br>**£**<br>**31,999**<br>**31,999**|**Last year**<br>**Total Funds**<br>**2020**<br>**£**<br>**-**<br>6,862|
|---|---|---|---|
||||**6,862**|
||||**6,862**|
||||**Last Year**<br>**Total Funds**<br>**2020**<br>**£**<br>6,862|
||||**6,862**|



**The notes attached on pages 9 to 14 form an integral part of these accounts.** 

6 



## **CYCLE SISTERS - Statement of Financial Activities for the year ended 31 March 2021** 

## **CYCLE SISTERS** 

## **Income and Expenditure Account for the year ended 31 March 2021** 

|**_Income_**<br>Income from operations<br>**Gross income in the year before exceptional items**<br>**Gross income in the year including exceptional items**<br>**_Expenditure_**<br>Charitable expenditure, excluding depreciation and amortisation<br>**Total expenditure in the year**<br>**Net income before tax in the financial year**<br>Tax on surplus on ordinary activities<br>**Net income after tax in the financial year**<br>**Retained surplus for the financial year**<br>All activities derive from continuing operations|**2021**<br>**£**<br>56,401<br>**56,401**<br>**56,401**<br>31,264<br>**31,264**<br>**25,137**<br>-<br>**25,137**<br>**25,137**|**2020**<br>**£**<br>8,283|
|---|---|---|
|||**8,283**|
|||**8,283**|
|||1,421|
|||**1,421**|
|||**6,862**<br>-|
|||**6,862**|
|||**6,862**|
||||



The headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities. 

**The notes attached on pages 9 to 14 form an integral part of these accounts.** 

7 



## **CYCLE SISTERS - Balance Sheet as at 31 March 2021** 

|**SORP**<br>Note**Ref**<br>**Current assets**<br>B<br>Cash at bank and in hand<br>B4<br>31,999<br>**Net current assets**<br>**The total net assets of the charity**|**2021**<br>**£**<br> <br>6,862<br>31,999<br>**31,999**|**2020**<br>**£**<br> <br>6,862|
|---|---|---|
|||**6,862**|



## **The total net assets of the charity are funded by the funds of the charity, as follows:-** 

|**Restricted funds**<br>Restricted Revenue Funds<br>8<br>D2<br>26,998<br>**Unrestricted Funds**<br>Unrestricted Revenue Funds<br>8<br>D3<br>5,001<br>**Total charity funds**|<br>3,704<br>26,998<br> <br>3,158<br>5,001<br>**31,999**|<br>3,704<br>3,158|
|---|---|---|
|||**6,862**|



The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA.. 

The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts. 

The charity is subject to Independent Examination under charity legislation, and the report of the Independent 

Examiner is on pages 2 - 3. 

The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime. 


## **SAMRA SAID** 

## Trustee 

Approved by the board of trustees on 1 December 2021 

**The notes attached on pages 9 to 14 form an integral part of these accounts.** 

8 



## **CYCLE SISTERS** 

## **Notes to the Accounts for the year ended 31 March 2021** 

## **1 Accounting policies** 

## _**Policies relating to the production of the accounts.**_ 

## **Basis of preparation and accounting convention** 

The accounts have been prepared on the cash basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice. 

## **Going Concern** 

The charitable activities are entirely dependent on continuingog the voluntary donations. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern. 

## **Risks and future assumptions** 

The charity is a public benefit entity. 

## _**Policies relating to categories of income and income recognition.**_ 

## **Nature of income** 

Gross income represents the value of grants from government and public bodies, also donations received from donors. 

## **Categories of Income** 

Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income. 

**Income from exchange transactions** is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser. 

**Income from a non-exchange transaction** is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange. 

9 



## **CYCLE SISTERS** 

## **Notes to the Accounts for the year ended 31 March 2021** 

## **Income recognition** 

Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably. 

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met. 

All income is accounted for gross, before deducting any related fees or costs. 

## **Accounting for deferred income and income received in advance** 

Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met. 

Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met. 

When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met. 

Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned,and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred. 

Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable. 

## **Income from legacies** 

Income from legacies is recognised when the charity has sufficient evidence that a gift has been left to them, that where required, probate has been granted, the executor is satisfied that the property in question will not be required to satisfy claims in the estate, that it is probable that the amount will be received by the charity, and the amount to be received can be estimated with sufficient accuracy, and that any conditions attached to the legacy are either within the control of the charity or have been met. 

Where a payment is received from an estate or is notified as receivable by the executors after the reporting date and before the accounts are authorised for issue but it is clear that the payment had been agreed by the executors prior to the end of the reporting period, then the amount concerned is treated as an adjusting event and accrued as income in the accounting period if receipt is probable. 

Where the charity has established entitlement to a legacy but there is uncertainty as to the amount of the payment, details of the legacy aredisclosed as a contingent asset until the criteria for income recognition are met. Where a legacy is subject to the interest of a life tenant, the legacy is not recognised as income until the death of the life tenant. 

If it is doubtful that full settlement of a legacy debtor will be received, then an adjustment is made to reduce the amount of the legacy debtor and legacy income rather than charging the adjustment as expenditure in the Statement of Financial Activities 

10 



## **CYCLE SISTERS** 

## **Notes to the Accounts for the year ended 31 March 2021** 

## **Donated goods, facilities and services** 

**Donated fixed assets** are recognised at the current fair value. All such donations are recognised as donation income, and debited to fixed assets. 

Donated services and facilities (including seconded staff and use of property) are included in the accounts on the basis of the value of the gift to the charity. 

All donated services and facilities are recognised as donation income when received,(provided the value of the gift can be measured reliably) and recognised as an expense with an equivalent value. 

## _**Policies relating to expenditure on goods and services provided to the charity.**_ 

## **Recognition of liabilities and expenditure** 

A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated.. 

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates. 

## **Allocating costs to activities** 

Direct costs that are specifically related to an activity are allocated to that activity. Shared direct costs and support costs are apportioned between activities. 

The basis for apportionment, which is consistently applied, and proportionate to the circumstances, is :- 

**Staffing** - on the basis of time spent in connection with any particular activity. **Staffing** - on a per capita basis, based on the number of of people employed within any partiular activity. **Premises related costs** - on the proportion of floor area occupied by a particular activity. 

**Non specific support costs** - on the basis of the usage of resources, in terms of time taken, capacity used, request made or other measures 

## **Volunteers** 

In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity. 

However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note 4. 

## **Debtors** 

Debtors are measured at their recoverable amounts at the balance sheet date. 

## **Financial instruments including cash and bank balances** 

Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements. 

11 



## **CYCLE SISTERS** 

## **Notes to the Accounts for the year ended 31 March 2021** 

## **Fund Accounting** 

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. 

There are no endowment funds. 

## **2 Liability to taxation** 

The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. 

## **3 Winding up or dissolution of the charity** 

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity. 

## **4 The contribution of volunteers** 

The charity depends on the support of its volunteers, which is much appreciated. The volunteers work tireless in archiving the goals of the charity and their contributions cannot be measured. The volunteers and the charity accept and no contract of employment is created by these arrangements. 

## **5 Remuneration and payments to Trustees and persons connected with them** 

No trustees or persons connected with them received any remuneration from the charity, or any related entity. 

|**6Income and Expenditure account summary**<br>**At 1 April 2020**<br>Surplus after tax for the year<br>**At 31 March 2021**|**2021**<br>**£**<br>6,862<br>25,137|**2020**<br>**£**<br>-<br>6,862|
|---|---|---|
||**31,999**|**6,862**|



12 



## **CYCLE SISTERS** 

## **Notes to the Accounts for the year ended 31 March 2021** 

## **7 Particulars of how particular funds are represented by assets and liabilities** 

|**At 31 March 2021**<br>Current Assets<br>Current Liabilities<br>**At 1 April 2020**<br>Current Assets|**Unrestricted**<br>**funds**<br>**£**<br>**Designated**<br>**funds**<br>**£**<br>**Restricted**<br>**funds**<br>**£**<br>**Total**<br>**Funds**<br>**£**<br>5,001<br>-<br>-<br>26,998<br>-<br>-<br>**31,999**<br>**-**|
|---|---|
||**5,001**<br>**-**<br>**26,998**<br>**31,999**|
||**Unrestricted**<br>**Designated**<br>**Restricted**<br>**Total**<br>**funds**<br>**£**<br>3,158<br>**funds**<br>**£**<br>**funds**<br>**£**<br>-<br>3,704<br>**Funds**<br>**£**<br>**6,862**|
||**3,158**<br>**-**<br>**3,704**<br>**6,862**|



## **8 Change in total funds over the year as shown in Note 7 , analysed by individual funds** 

|**_Unrestricted and designated funds:-_**<br>Unrestricted Revenue Funds<br>**Total unrestricted and designated funds**<br>**_Restricted funds:-_**<br>Donations & Legacies<br>Expenditure on charitable activities<br>**Total restricted funds**<br>**Total charity funds**|**Funds brought**<br>**forward from**<br>**2020**<br>**Movement in**<br>**funds in 2021**<br>**Transfers**<br>**between**<br>**funds in 2021**<br>**Funds carried**<br>**forward to**<br>**2022**<br>**£**<br>**See Note 9**<br>**£**<br>**See Note 0**<br>**£**<br>**£**<br>3,158<br>1,843<br>**-**<br>**5,001**|
|---|---|
||**3,158**<br>**1,843**<br>**-**<br>**5,001**|
||3,704<br>52,915<br>-<br>**56,619**<br>-<br>(29,621)<br>-<br>**(29,621)**|
||**3,704**<br>**23,294**<br>**-**<br>**26,998**|
|||
||**6,862**<br>**25,137**<br>**-**<br>**31,999**|



13 



## **CYCLE SISTERS** 

## **Notes to the Accounts for the year ended 31 March 2021** 

**9 Analysis of movements in funds over the year as shown in Note 8** 

|**_Unrestricted and designated funds:-_**<br>Unrestricted Revenue Funds<br>Designated Revenue Funds<br>**_Restricted funds:-_**<br>Donations & Legacies<br>Expenditure on charitable activities|**Income**<br>**2021**<br>**£**<br>2,486<br>1,000<br>52,915<br>-|**Expenditure**<br>**2021**<br>**£**<br>(643)<br>(1,000)<br>-<br>(29,621)|**Other**<br>**Gains &**<br>**Losses**<br>**2021**<br>**£**<br>-<br>-<br>-<br>-|**Movement**<br>**in funds**<br>**2021**<br>**£**<br>**1,843**<br>**-**<br>**52,915**<br>**(29,621)**|
|---|---|---|---|---|
||**56,401**|**(31,264)**|**-**|**25,137**|



## **10 The purposes for which the funds** 

## _**Unrestricted and designated funds:-**_ 

Unrestricted Revenue Funds 

Unrestricted Revaluation Reserve 

These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use. 

This fund represents the unrestricted surplus arising on the revaluation of the charity's assets. 

## _**Restricted funds:-**_ 

Restricted Fixed Asset Funds 

Restricted Revaluation Reserve 

The purpose of these funds is described under the accounting policy 'Accounting for capital grants and fixed asset funds'. 

This fund represents the restricted surplus arising on the revaluation of the charity's assets. 

## **11 Ultimate controlling party** 

The charity is under the control of its legal members. 

14 



## **CYCLE SISTERS** 

**Detailed analysis of income and expenditure for the year ended 31 March 2021 as required by the SORP 2015** 

## _**This analysis is classsified by conventional nominal descriptions and not by activity.**_ 

**12 Donations, Grants and Legacies** 

|**Donations, Grants and Legacies**|||||
|---|---|---|---|---|
|**_Current Year_**<br>**SOFA ref**<br>**Donations and gifts from individuals**<br>Small donations individually less than £1000<br>**Total donations and gifts from**<br>**individuals**<br>**A1**|**Current year**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>124|**Current year**<br>**Restricted**<br>**Funds**<br>**2021**<br>**£**<br>-|**Current year**<br>**Total Funds**<br>**2021**<br>**£**<br>**124**<br>**124**|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>3,283|
||**124**|**-**||**3,283**|



## **Donations and gifts from individuals (Include HMRC refunds on gift aided donations) - Prior Year analysis** 

|**_Prior year_**<br>**Donations and gifts from individuals**<br>Small donations individually less than £1000<br>**Total donations and gifts from**<br>**individuals**<br>**A1**<br>**_Current Year_**<br>**SOFA ref**<br>**Revenue grants from government and**<br>**public bodies**<br>Small grants individually less than<br>£1000<br>Revenue grants grater than £1,000<br>less than £3,000<br>Revenue grants grater than £3,000<br>less than £5,000<br>Revenue grants grater than £5,000<br>less than £7,000<br>**Total public sector revenue grants A1**<br>**SOFA ref**|3,283<br>**Prior Year**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**|-<br>**Prior Year**<br>**Restricted**<br>**Funds**<br>**2020**<br>**£**|**3,283**<br>**3,283**<br>**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>5,000<br>-<br>-<br>-|
|---|---|---|---|---|
||**3,283**|**-**|||
||**Current year**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>3,362<br>-<br>-<br>-|**Current year**<br>**Restricted**<br>**Funds**<br>**2021**<br>**£**<br>2,760<br>12,812<br>25,202<br>12,141|**Current year**<br>**Total Funds**<br>**2021**<br>**£**<br>**6,122**<br>**12,812**<br>**25,202**<br>**12,141**||
||**3,362**|**52,915**|**56,277**|**5,000**|



All the grants in the prior year were unrestricted. 

15 



## **CYCLE SISTERS** 

**Detailed analysis of income and expenditure for the year ended 31 March 2021 as required by the SORP 2015** 

## **Revenue grants from government and public bodies - Prior Year analysis** 

|**_Prior Year_**<br>**Revenue grants from government and**<br>**public bodies**<br>Small grants individually less than<br>£1000<br>Revenue grants grater than £1,000<br>less than £3,000<br>Revenue grants grater than £3,000<br>less than £5,000<br>Revenue grants grater than £5,000<br>less than £7,000<br>**Total public sector revenue grants A1**<br>**SOFA ref**|-<br>-<br>-<br>-<br>**Prior Year**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**|5,000<br>-<br>-<br>-<br>**Prior Year**<br>**Restricted**<br>**Funds**<br>**2020**<br>**£**|**5,000**<br>**-**<br>**-**<br>**-**<br>**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**|
|---|---|---|---|
||**-**|**5,000**|**5,000**|



## **Total Donations, Grants and Legacies** 

|**Total Donations, Grants and Legacies**|||||
|---|---|---|---|---|
|**_Current year_**<br>**SOFA ref**<br>**Total Donations, Grants and**<br>**Legacies**<br>**A1**<br>**3,486**<br>**_Prior year_**<br>**SOFA ref**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**Legacies**<br>**13**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>**£**<br>**Total Donations, Grants and**<br>**A1**<br>**3,283**<br>**Expenditure on charitable activities - Direct spending**<br>**Current year**<br>**_Current Year_**<br>**SOFA ref**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>Direct charitable expenditure<br>-<br>**Total direct spending**<br>**B2a**<br>**-**<br>All the expenditure in the prior year was unrestricted.<br>**Prior Year**<br>**_Prior Year_**<br>**SOFA ref**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**<br>Direct charitable expenditure<br>-<br>**Total direct spending**<br>**B2a**<br>**-**|**Unrestricted**<br>**Funds**<br>**2021**<br>**£**|**Restricted**<br>**Funds**<br>**2021**<br>**£**|**Current Year**<br>**Total Funds**<br>**2021**<br>**£**|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**|
||**3,486**|**52,915**|**56,401**|**8,283**|
||**Unrestricted**<br>**Funds**<br>**2020**<br>**£**|**Restricted**<br>**Funds**<br>**2020**<br>**£**|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>**1,296**<br>**1,296**|
||**3,283**|**5,000**|**8,283**||
|||**Current year**<br>**Restricted**<br>**Funds**<br>**2021**<br>**£**<br>29,621|**Current year**<br>**Total Funds**<br>**2021**<br>**£**<br>**29,621**||
||**-**|**29,621**|**29,621**||
||**Prior Year**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**<br>-|**Prior Year**<br>**Restricted**<br>**Funds**<br>**2020**<br>**£**<br>1,296|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>**1,296**||
||**-**|**1,296**|**1,296**||



16 



## **CYCLE SISTERS** 

**Detailed analysis of income and expenditure for the year ended 31 March 2021 as required by the SORP 2015** 

**14 Support costs for charitable activities** 

|**Support costs for charitable activities**|||
|---|---|---|
|**_Current Year_**<br>**SOFA ref**<br>**_Administrative overheads_**<br>Membership subscriptions<br>Software licences and expenses<br>Liabilty and contents insurance<br>Sundry expenses<br>Training<br>**Support costs before reallocation**<br>**Total support costs - Current Year B2d**|**Current year**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>116<br>1,000<br>393<br>-<br>134|**Current year**<br>**Current year    Prior Year**<br>**Restricted**<br>**Funds**<br>**Total Funds**<br>**Total Funds**<br>**2021**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>**£**<br>-<br>**116**<br>**80**<br>-<br>**1,000**<br>**-**<br>-<br>**393**<br>**-**<br>-<br>**-**<br>-<br>**134**<br>**45**<br>**-**|
||**1,643**|**-**<br>**1,643**<br>**125**<br>**-**<br>**1,643**<br>**125**|
||**1,643**||



The basis of allocation of costs between activities is described under accounting policies 

|**_Prior Year_**<br>**SOFA ref**<br>**_Administrative overheads_**<br>Membership subscriptions<br>Sundry expenses<br>**_Support costs before reallocation_**<br>**Total support costs - Prior Year B2d**|**Prior Year**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**<br>80<br>45|**Prior Year**<br>**Restricted**<br>**Funds**<br>**2020**<br>**£**<br>-<br>-|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>**80**<br>**45**|
|---|---|---|---|
||**125**|**-**|**125**<br>**125**|
||**125**|**-**||



The basis of allocation of costs between activities is described under accounting policies 

17 



## **CYCLE SISTERS** 

**Detailed analysis of income and expenditure for the year ended 31 March 2021 as required by the SORP 2015** 

## **15 Total Charitable expenditure** 

|**Total Charitable expenditure**|||||
|---|---|---|---|---|
|**_Current Year_**<br>**SOFA ref**<br>Total direct spending<br>**B2a**<br>Total support costs<br>**B2d**<br>**Total charitable expenditure**<br>**B2**<br>**_Prior Year_**<br>**SOFA ref**<br>Total direct spending<br>**B2a**<br>Total support costs<br>**B2d**<br>**Total charitable expenditure**<br>**B2**|**Current year**<br>**Unrestricted**<br>**Funds**<br>**2021**<br>**£**<br>-<br>1,643|**Current year**<br>**Restricted**<br>**Funds**<br>**2021**<br>**£**<br>29,621<br>-|**Current year**<br>**Total Funds**<br>**2021**<br>**£**<br>**29,621**<br>**1,643**<br> <br>**31,264**<br>**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>**1,296**<br>**125**|**Prior Year**<br>**Total Funds**<br>**2020**<br>**£**<br>**1,296**<br>**125**|
||<br>**1,643**<br>**Prior Year**<br>**Unrestricted**<br>**Funds**<br>**2020**<br>**£**<br>-<br>125|<br>**29,621**<br>**Prior Year**<br>**Restricted**<br>**Funds**<br>**2020**<br>**£**<br>1,296<br>-||**1,421**|
||<br>**125**|**1,296**|**1,421**||



18 



## **CYCLE SISTERS** 

## **Activity analysis of Income and expenditure for the for the year ended 31 March 2021** 

## _**This analysis is classsified by activity and not by conventional nominal descriptions.**_ 

## **16 Analysis of income by activity** 

|**SOFA ref**<br>**Activity**<br>**_Summary of Total Income, including the items above_**<br>Donations & Legacies<br>**A1**<br>**Total income as shown in the SOFA**<br>**A**<br>**_Categories of income_**<br>Income from exchange transactions|**2021**<br>**2020**<br>**£**<br>**£**<br>56,401<br>8,283|
|---|---|
||**56,401**<br>**8,283**|
||56,401<br>8,283|
||**56,401**<br>**8,283**|



## **17 Analysis of charitable expenditure by activity Activity** 

|Direct costs<br>Administrative overheads<br>**Total Primary purpose and ancillary trading1**<br>**_Primary purpose and ancillary trading1_**|29,621<br>-<br>**Direct**<br>**costs**<br>**2021**<br>**£**|-<br>1,643<br>**Support**<br>**costs**<br>**2021**<br>**£**|-<br>-<br>**Grant**<br>**funding**<br>**of**<br>**activities**<br>**2021**<br>**£**|**Total**<br>**2021**<br>**£**<br>**29,621**<br>**1,643**|**Total**<br>**2020**<br>**£**<br>1,296<br>125|
|---|---|---|---|---|---|
||**29,621**|**1,643**|**-**|**31,264**|**1,421**|



## **Summary of charitable costs by activity** 

|Total Primary purpose and ancillary trading1<br>**Total charitable expenditure**|**Direct**<br>**costs**<br>**Support**<br>**costs**<br>**Grant**<br>**funding**<br>**of**<br>**Total**<br>**Total**<br>**2021**<br>**2021**<br>**2021**<br>**2021**<br>**2020**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>29,621<br>1,643<br>-<br>31,264<br>1,421|
|---|---|
||**29,621**<br>**1,643**<br>**-**<br>**31,264**<br>**1,421**|



The basis of allocation of costs between activities is described under accounting policies 

The breakdown of this expenditure by type of spending (ie nominal classification) is detailed in note 15 

19 



## **CYCLE SISTERS** 

## **Activity analysis of Income and expenditure for the for the year ended 31 March 2021** 

## **Analysis of support and governance costs by charitable activities** 

|**Activity**<br>Primary purpose and ancillary trading1<br>**Grand Total**|**Governance Finance**<br>**Human**<br>**Resources**<br>**Other**<br>**Overheads**<br>**Total**<br>-<br>-<br>-<br>1,643<br>1,643|
|---|---|
||-<br>-<br>-<br>1,643<br>1,643|



20