2024-03-31-accounts

Cvjcie gièfe, Annual Report 2023/2024

There is no doubt these rides have

Administrative Information

Registered Charity No: 1183189

Registered Address:

Trustees:

9 Frinton Drive, Woodford Green, IG8 9ND Samra Said (Chair) Raiyhana Noorgat (Treasurer) Zainab Arian (Secretary) Carolyn Axtell

Message from our Chair & CEO

Assalamu alaikum, peace be with you

We’re excited to share with you some of the highlights of a very exciting year for Cycle Sisters as we continue our journey to empower Muslim women through cycling. We’d like to extend our heartfelt appreciation to all of our supporters who make this possible - our partners, our funders and a special thank you to the inspiring women who volunteer as our Ride Leaders.

We are just at the start of a new 3 year strategy which focuses on three goals: Reaching more women through our programmes

• Increasing the visibility and representation of Muslim women in cycling Strengthening Cycle Sisters as a values-led, impactful and financially sustainable organisation

We’re looking forward to going from strength to strength over the coming years, God willing, in our mission to build a healthy, confident and connected community of Muslim women through cycling.

Samra Said Sarah Javaid MBE Chair CEO

Charitable Objectives

Cycle Sisters’ Charitable Objectives as set out in our constitution are:

• To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals, and in particular but not exclusively Muslim women, who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life. The promotion of community participation in healthy recreation for the public benefit, and in particular but not exclusively among Muslim women, by providing facilities and opportunities to participate in cycling.

Statement on public benefit

This report clearly set out the activities, which the charity undertakes for the public benefit. The Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity.

Structure, Governance and Management

Cycle Sisters is registered as a CIO with the Charity Commission, and governed by a constitution (as amended by special resolution passed on 20th April 2023).

In line with the constitution, Trustees are appointed by a resolution at a properly convened meeting of the charity Trustees. There must always be a minimum of 3 Trustees. New Trustees are given a full induction to the charity and support to understand their roles and responsibilities. During this year, Khadijah Zaidi resigned from the Board and Raiyhana Noorgat joined as the Treasurer.

The Board continued to provide the team with outstanding support in many areas including financial oversight, partnerships and organisational development.

The key management personnel of Cycle Sisters are the CEO, Sarah Javaid MBE, and Operations Lead, Emma Pajarillaga. We also have a number of other contractors delivering projects. We have over 80 active volunteers who are trained as Ride Leaders and run our main activity of group rides, overseen by the central team. We also work with a team of 18 qualified Cycle Instructors on a contractor basis.

92% said “My health is better”

91% said “I feel more confident”

86% said “I feel more connected to my local community”

Cycle Groups

Cycle Sisters’ core activity is running volunteer-led cycle groups for Muslim women, which offer inclusive and empowering rides. Our rides are tailored to meet the needs of Muslim women and we welcome women from all backgrounds.

This year, our rides took place in Ealing, Hackney, Haringey, Hounslow, Lambeth, Newham, Redbridge, Tower Hamlets, Waltham Forest and Wandsworth.

408 457 unique 10 London rides participants boroughs

There isn’t another group like Cycle Sisters - it is a really unique and inclusive group with Ride Leaders that couldn’t be more supportive towards those of all backgrounds and abilities. I wouldn’t have started cycling again without Cycle Sisters!

Cycle Lessons

Cycle Sisters offers cycle lessons with our team of community-based cycle instructors, in partnership with local authorities and training providers. We teach women to learn to ride a bike, as well as helping others to build confidence to cycle for transport.

We were delighted to gain registration as a Bikeability Provider and plan to expand our cycle lesson provision over the coming year.

3 new 18 instructors instructors trained in total

When I found out they had a Muslim instructor, I felt more comfortable with somebody from my own background teaching me. Rabiyah

Road Club

Cycle Sisters aims to increase the representation and visibility of Muslim women at all levels of cycling.

Our Road Club offers longer rides, introducing women to the world of road cycling, as well as providing support to train for sportives and events.

We were proud to work with London Marathon Events to make it possible for over 120 women to participate in RideLondon this year, conquering 30, 60 or 100 miles! For many of the participants, this was their first opportunity to experience a sportive.

I’m proud of being part of Cycle Sisters. The confidence and opportunities it has given me has been beyond imagination. I only dreamt of taking part in challenges and now I’m doing it!”

Smiles & Miles

Smiles & Miles is our annual winter challenge which promotes independent cycling outside of our group rides. Women in our network set themselves a challenge to cycle as many miles as possible during the month of February. For the first time, this year we partnered with Brompton, Waltham Forest Council, Newham Council and Peddle My Wheels to provide free use of bikes for the challenge, making it possible for even more women to join.

Each week had a unique theme including cycling to different Cycle Sisters’ boroughs for “Meet the Neighbours” as well as “Hills Week” and “Foodies Week.” The challenge connected women across London and motivated many to push the boundaries of what they thought they could achieve!

222 25,752 participants miles cycled

I was able to cycle independently on London roads and am astonished by the number of miles I could ride. I definitely loved the cycling atmosphere which has encouraged me to buy a bike. Issath

Teen Bikers

This year, we expanded our Teen Bikers provision to two new boroughs, Redbridge and Hounslow, in addition to Waltham Forest. Teen Bikers offers rides and lessons for teen girls aged 13-17.

In summer and autumn 2023, we offered a series of 10 rides in Waltham Forest and Redbridge made possible by the Queens Jubilee Fund. In January 2024, with support from Hounslow Council, we also started up rides in Hounslow.

We were thrilled to secure funding from Go! London for a 2 year project to expand and continue our lessons and rides across these three boroughs, so that we can reach more girls and continue to inspire the cyclists of the future.

80 39 participants rides

I used to ride my bike a lot. In the last couple of years I felt really unmotivated to ride but the teens ride have given me lots of confidence and made me feel empowered by riding a bike. Ayla

Reaching under-represented groups

We want our activities to reach the full diversity of the Muslim community and have taken steps to engage with specific communities we’ve identified as currently underrepresented.

With the support of the Tower Hamlets GP Care Group and Bikeworks, we offered weekly group cycle sessions for Somali women in Tower Hamlets over 7 months. Each session was supported by a ‘Community Ambassador’ who engaged with women locally and attended to provide language support.

We’re pleased to have secured funding from Walking & Cycling Grants London to offer sessions for Turkish women in Hackney from April 2024.

60 women 32 learnt to 1 trained as a took part cycle for the Ride Leader first time

I’ve always wanted to learn to cycle but never felt these opportunities were for me. When a friend told me about the Somali project, I immediately felt safe. I felt that I belonged. I told everyone about my experience after that! Khadra

Tri Sisters

This year, we launched our new Tri Sisters project, aiming to support Muslim women to participate in triathlon (swim, bike, run). Only 2% of British Triathlon's members are from ethnically diverse backgrounds and we want to see more representation from our communities.

Women from our network participated in numerous events including Challenge London Triathlon, Swim Serpentine and the Black Tri Tribe London Triathlon.

We also started delivering our first block of women-only swimming lessons as we identified that this is one of the key barriers to triathlon. We’re excited to have formed a partnership with Fund Her Tri and look forward to growing this project over the next year.

"My world has gotten way bigger now. It started with cycling but now I am part of Tri Sisters and training for a triathlon. I would never have thought of doing something so wild in my life!" Priya

I am so grateful to have found Cycle Sisters. Not only did I get to connect with the wonderful people in my community, it helped me break through anxiety and did wonders for my mental health.

Launch of our Guides

Cycle Sisters launched a series of guides at an online event in July 2023 to celebrate and promote cycling for diverse communities. The 3 guides can be downloaded here: cyclesisters.org.uk/guides. They are targeted at different audiences:

• Individuals looking to set up a cycle group

• Existing groups and clubs

• Local authorities

The online event was attended by over 90 people from the cycling and active travel sectors and was opened with an address from Dr Will Norman, the Mayor of London's Walking & Cycling Commissioner, who talked about the important role that community groups play in diversifying cycling.

An external evaluation of Cycle Sisters’ work, undertaken by Esther Anaya-Boig, was also launched at the event and can be downloaded here: cyclesisters.org.uk/our-impact.

Massive congratulations to everyone at Cycle Sisters for developing these brilliant guides. It’s exactly what the country needs and so important for tackling the future challenges we all face. Dr Will Norman

Media & Awards

Alongside our cycling activities, Cycle Sisters looks for opportunities to increase the representation of Muslim women in the wider cycling world including conferences, events and media.

Some of the highlights from this year include delivering a workshop about engaging Muslim women in cycling at the Bikeability Trust Conference , and featuring on I slam Channel, BBC Radio London and Rouleur Magazine.

We were delighted to receive the “Community Impact Award ” at the London Sports Awards in March 2024.

We are also incredibly proud of the women from within our network who have been recognised for their contribution to cycling within their communities. This includes our founder Sarah Javaid receiving an MBE in the King’s Birthday Honours List, our Ride Leader Yusra Nayyar receiving the “Haringey Hero Award” and our Project Coordinator, Sab Miah, and 3 of our Ride Leaders included on Cycling UK's “Top 100 Women in Cycling 2023” list.

I am so incredibly proud to win the London Sports Award. All of the volunteers across London dedicate not only time but passion to the rides they lead every week. Seeing the positive impact it has on our communities really makes it all worth it. Samra Said, Chair

Volunteers

Cycle Sisters would not be possible without our team of dedicated volunteers who run our group rides and support women in their local communities to discover the joy of cycling.

This year, we have continued to grow our volunteer team as well as focusing on improving our training and development programme. This has included online skills sessions on first aid and route planning, as well as a London-wide volunteer event, bringing together all the volunteers to network with each other.

31 new 81 total 90% said volunteers volunteers volunteering trained had improved their skills

Ride leading with Cycle Sisters has opened many doors of opportunity for me, including paid opportunities teaching cycling in schools. I have influenced and broken some barriers that stopped women from cycling. And now, I’m happy to see so many Muslim women cycling. Rabia

Partners & supporters

Cycle Sisters’ achievements are only possible thanks to collaboration with a huge range of partners and supporters. We’d like to extend our heartfelt thanks to the following organisations and individuals for their support over the past year

A & S Cycles Lee Valley Regional Park Authority BCBN Lee Valley VeloPark Bikeability Trust London Borough of Hounslow Swim Club Bikeworks London Cycling Campaign Black Tri Tribe London Marathon Events British Cycling London Marathon Foundation Brompton London Sport CareTech Foundation Newham Council Cycle Chic Osterley Park Cycle Confident Palmers Green Mosque Cycle Spirit Peddle My Wheels Cycling Instructor Rapha Cycling UK Redbridge Council Ealing Council Safe for All CIC Esther Anaya-Boig Sport England Evolve Sported Freshwater Foundation St Stephens Health Centre Fund Her Tri Sustrans Go! London Transport for London Hackney Council Tom Moreland Hadley Property Group Tower Hamlets Council Haringey Council Tower Hamlets GP Care Group Hounslow Council Waltham Forest Council Inspire Hounslow Wandsworth Council Irfan Ahmed Wesleyan Foundation Jenna Selby Women of Colour Cycling Collective Lambeth Council Viewtube

Our team

Samra Said Chair

Sarah Javaid MBE CEO

Khadijah Zaidi Book-keeper

Raiyhana Noorgat Treasurer

Emma Pajarillaga Operations Lead

Zainab Arian Secretary

Carolyn Axtell Trustee

Sab Miah Project Coordinator

Deryn Ellis Comms & Media Lead

Seema Jadwet Rukaiya Moola Mentor Mentor

Mariam Ahmed Admin Coordinator

Financial review

Overall

Cycle Sisters continues in a position of financial strength at the end of this year, with our overall income level remaining stable. We saw an increase of 21% in income from Trusts & Foundations. This includes the first instalment of a new three year contract for further capacity building work from London Marathon Foundation, who remain our largest funder. A number of grants were received towards the end of this financial year, and are to be spent in the following financial year.

Fundraising

We have continued to work to diversify our income streams as one of our strategic priorities. Over £11,000 was generated through fundraising events, including our annual winter challenge, Smiles & Miles, and external events such as RideLondon. We have also worked on building corporate partnerships, with several new partnerships due to begin in the next financial year.

Reserves

We ended the year with reserves of approximately 6 months’ operational costs in line with our reserves policy which is reviewed by our Trustees annually. These funds have been built up through efforts to generate unrestricted income over the past few years to ensure the organisation’s financial resilience. The Trustees feel that this level of reserves represents good financial planning given the size and age of our charity, and context of our work.

2023/2024 Accounts

Contents
Independent Examiner's Report	3
Charity details	4
Statement of Financial Activities	5
Statement of Financial Activities - Prior Year	6
Statement Movements in Revenue & Capital funds	7
Income and Expenditure account	8
Balance sheet	9
Notes to the accounts	10 - 15
Detailed Analysis of Income & Expenditure	16 - 20
Activity Analysis of Income & Expenditure	21 - 22

Independent Examiner's Report

Report of the Independent Examiner to the Trustees of the charity on the accounts for the year ended 31 March 2024

I report to the trustees on my examination of the financial statements of CYCLE SISTERS (‘the charity') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

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

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Act and 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.

Independent Examiner's Statement, Report and Opinion

I have completed my examination. I confirm 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 section 130 of the Act; or

• 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.

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:

MISS M. GASTON - Independent Examiner

Member of the Institute of Financial Accountants

Barking Enterprise Centre 50 Cambridge Road Barking IG11 8FG

This report was signed on 18 November 2023

3

Trustees' Financial Report

The Trustees present the Accounts for the year ended 31 March 2024.

The charity’s name.

The legal and operating name of the charity is: CYCLE SISTERS.

The charity's areas of operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1183189.

The charity does not operate in any overseas jurisdictions.

Legal structure of the charity

The charity is constituted as a Charitable Incorporated Organisation (CIO) in England & Wales. The governing document of the charity is the constitution of the CIO as approved by the Charity Commission in England & Wales (CCEW).

There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.

The trustees are all individuals.

4

Statement of Financial Activities for the year ended 31 March 2024

SORP Ref Income from: Donations A1 Total income A Expenditure on: Charitable activities B2 Total expenditure B Net income for the year Transfers between funds Net movement in funds Reconciliation of funds: E Total funds brought forward Total funds carried forward	Unrestricted funds 2024 £ 16,638 16,638 4,089 4,089 12,549 6,077 18,626 33,702 52,328	Restricted	Total funds	Prior Year Total funds
		funds 2024 £ 113,666 113,666 88,556 88,556 25,109 (6,077) 19,032 66,842 85,874	2024 £ 130,304 130,304 92,645 92,645 37,658 - 37,658 100,544 138,202
				2023
				£
				115,743
				115,743
				61,589
				61,589
				54,154 -
				54,154
				**46,390 **
				100,544

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 10 to 15 form an integral part of these accounts.

5

Analysis of prior year total funds, as required by paragraph 4.2 of the SORP

SORP Ref Income from: Donations A1 Total income A Expenditure on: Charitable activities B2 Total expenditure B Net income for the year Net movement in funds Reconciliation of funds: E Total funds brought forward Total funds carried forward	Unrestricted funds 2023 £ 24,406 24,406 4,028 4,028 20,378 20,378 13,324 33,702	Restricted	Prior Year Total funds
		funds 2023 £ 91,337 91,337 57,561 57,561 33,776 33,776 33,066 **66,842 **
			2023
			£
			115,743
			115,743
			61,589
			61,589
			54,154
			54,154
			**46,390 **
			100,544

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 10 to 15 form an integral part of these accounts.

6

Resources applied in the year ended 31 March 2024 towards fixed assets for Charity use:

	Fundsgenerated in theyear as detailed in the SOFA Net resources available to fund charitable activities	2024 £ 37,658 **37,658 **	2023 £ 54,154 54,154

Movements in revenue and capital funds for the year ended 31 March 2024

Revenue accumulated funds		Unrestricted funds 2024 £ 33,702 12,549 6,077 52,328 Unrestricted and Designated funds 2024 £ 52,328 52,328		Restricted funds 2024 £ 66,842 25,109 (6,077) 85,874 Restricted funds 2024 £ 85,874 85,874		Total funds 2024 £ 100,544 37,658 - 138,202 Total funds 2024 £ 138,202 138,202
								Prior Year Total funds
								2023
								£
Accumulated funds brought forward								46,390
Recognised gains and losses before transfers								54,154
Transfers								-
Closing revenue funds								100,544
Summary of funds								Prior Year Total funds
								2023
								£
Revenue accumulated funds								100,544
Total funds								100,544

The notes attached on pages 10 to 15 form an integral part of these accounts .

7

Income and Expenditure Account for the year ended 31 March 2024

Income	2024 £ 128,638 1,666 130,304 130,304 92,199 446 92,645 37,658 - 37,658 **37,658 **	2023
		£
Income from operations		112,582
Refunds from HMRC on gift aided donations		3,161
Gross income in the year before exceptional items		115,743
Gross income in the year including exceptional items		115,743
Expenditure
Charitable expenditure, excluding depreciation		58,546
Governance costs		3,043
Total expenditure in theyear		61,589
Net income before tax in the financial year		54,154
Tax on surplus on ordinary activities		-
Net income after tax in the financial year		54,154
Retained surplus for the financial year		54,154

All activities derive from continuing operations

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 10 to 15 form an integral part of these accounts.

8

Balance Sheet as at 31 March 2024

	Note SORP	2024 £ 138,202 138,202 138,202	2023 £ 100,544 100,544 100,544
	Current assets B
	Cash at bank and in hand B4
	Net current assets
	The total net assets of the charity

[The total net assets of the charity are funded by the charities funds, as follows: ]

	Restricted funds	85,874 52,328
	Restricted Revenue Funds 8 D2		66,842
	Unrestricted Funds
	Unrestricted Revenue Funds 8 D3		33,702
	Total charity funds	138,202	100,544

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 page 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 9[th] December 2024

The notes attached on pages 10 to 15 form an integral part of these accounts.

9

Notes to the Accounts for the year ended 31 March 2024

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 dependent on receipt of grants and voluntary donations. Consequently, future flows of these funding streams are uncertain. 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 uncertainties 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 nonexchange 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.

10

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

There are no legacy funds.

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.

11

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 people employed within any particular 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.

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

12

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 tirelessly in achieving the goals of the charity and their contributions are invaluable. The volunteers and the charity accept no contract of employment is created by these arrangements.

5 Remuneration and payments to Trustees and persons connected with them.

	2024	2023
	£	£
Saiyyidah Najmus-Sabah Zaidi	282	1,990

The Trustee has received payments for project work (Prior year: secretarial), as agreed between the charity and the trustee.

6 Trustees' expenses.

	2024	2023
	£	£
The amount reimbursed to trustees	164	93

The nature of the trustees' expenses was travel and subsistence.

7 Income and Expenditure account summary.

Income and Expenditure account summary.
	2024 £ 100,544 37,658 138,202	2023
		£
At 1 April 2023		46,390
Surplus after tax for theyear		54,154
At 31 March 2024		100,544

13

8 Detail of how particular funds are represented by assets and liabilities

At 31 March 2024 Current Assets At 1 April 2023 Current Assets	Unrestricted funds £ 52,328	Designated funds £ -	Restricted funds £ 85,874	Total Funds £ 138,202
	52,328 Unrestricted funds £ 33,702 33,702	- Designated funds £ - -	85,874 Restricted funds £ 66,842 **66,842 **	138,202
				Total Funds £ 100,544
				100,544

9 Change in total funds over the year as shown in Note 8, analysed by individual funds

Unrestricted and designated funds: Unrestricted Revenue Funds Total unrestricted and designated funds Restricted funds: Donations Expenditure on charitable activities Total restricted funds Total charity funds	Funds brought forward from 2023 £ 33,702 33,702 66,842 66,842 100,544	Movement in funds in 2024 See Note 10 £ 12,549 12,549 113,666 (88,556) 25,109 37,658	Transfers between funds in 2024 £ 6,077 6,077 (6,077) (6,077) -	Funds carried forward to 2024 £ 52,328
				52,328
				174,431 (88,556)
				85,874
				138,202

14

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

	Income 2024 £ 16,638 -	Income 2024 £ 16,638 -	Expenditure 2024 £ (4,089) -	Expenditure 2024 £ (4,089) -	Other Gains & Losses 2024 £ - -	Other Gains & Losses 2024 £ - -	Movement in funds
							2024
							£
Unrestricted and designated funds:
Unrestricted Revenue Funds							12,549
Designated Revenue Funds							-
Restricted funds:	113,666		(88,556)		- -
Donations							113,666 (88,556)
Expenditure on charitable activities
	130,304		(92,645)		-		37,658

11 The purposes for the funds

Unrestricted and designated funds:

Unrestricted Revenue Funds

Unrestricted Revaluation Reserve

These funds are held for 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.

12 Ultimate controlling party

The charity is under the control of its legal members.

15

Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015

This analysis is classified by conventional nominal descriptions and not by activity.

13 Donations and Grants

Donations and gifts from individuals (Include HMRC refunds on gift aided donations)

Current Year SOFA ref	Current Year SOFA ref		Unrestricted funds	Unrestricted funds	Unrestricted funds	Restricted funds	Restricted funds	Restricted funds	Restricted funds	Total funds	Total funds
			2024				2024			2024
			£				£			£
Small donations			12,063				150			12,213
Refunds from HMRC ongift aided donations			1,666 13,729				- **150 **
Total donations and gifts from individuals A1
Prior Year SOFA ref			Unrestricted
			funds
			2023				2023
			£				£
Small donations			21,245
Refunds from HMRC on gift aided donations			3,161
Total donations and gifts from individuals A1			24,406
Revenue grants from government and public bodies
Current Year SOFA ref						Restricted					Prior Year Total funds
						funds
	2024					2024				2024	2023
Hounslow Council Lee Valley Regional Park Authority Redbridge Council Sport England Tower Hamlets Council	£					£				£	£
	-					10,256				10,256	5,031
	-					-				0	3,000
	-					3,500				3,500	4,500
	-					14,986				14,986	4,797
	-					-				0	5,036
Waltham Forest Council	-					2,500				2,500	-
Total public sector revenue grants A1	- Unrestricted funds					31,242					22,364
Prior Year SOFA ref
	2023				2023
Hounslow Council Lee Valley Regional Park Authority Redbridge Council Sport England Tower Hamlets Council	£				£
					5,031
	-				3,000
	-				4,500
					4,797
	-				5,036
Total public sector revenue grants A1	-				22,364

16

Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015

Revenue grants from Charities and Private Bodies

Current Year	Unrestricted funds	Unrestricted funds	Restricted funds	Restricted funds	Total funds	Total funds	Prior Year Total funds
	2024		2024		2024		2023
	£		£		£		£
Total Charities and Private Bodies Grants	4,800		76,427		81,227		67,121
Prior Year	Unrestricted funds		Restricted funds		Total funds
	2023		2023		2023
	£		£		£
Total Charities and Private Bodies Grants	-		67,121		67,121
Total Donations and Grants
Current Year SOFA ref	Unrestricted funds		Restricted funds		Total funds		Prior Year Total funds
	2024		2024		2024		2023
	£		£		£		£
Total Donations and Grants A1	**16,638 **		113,666		130,304		115,743
Prior Year SOFA ref	Unrestricted funds		Restricted		Prior Year
			funds		Total funds
	2023		2023		2023
	£		£		£
Total Donations and Grants A1	24,406		91,337		115,743

17

Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015

14 Expenditure on charitable activities - Direct spending

Current Year SOFA ref	Unrestricted funds	Unrestricted funds	Restricted funds	Restricted funds	Total funds	Total funds	Prior Year Total funds
	2024		2024		2024		2023
	£		£		£		£
Direct charitable expenditure
Staffing Costs - Projects & Core	168		65,535		65,703		38,389
Training Instructors & Ride Leaders	452		7,724		8,176		4,189
Venues & Events	972		4,801		5,773		2,078
Equipment	8		831		839		1,118
Volunteer expenses	25		1,087		1,112		758
Cycle lessons	-		640		640		160
Ancillarydirectproject costs	1,089		6,152		**7,241 **		9,313
Total direct spending B2a	2,714		86,770		89,484 Prior Year Total funds		56,005
Prior Year SOFA ref	Unrestricted funds		Restricted funds
	2023		2023		2023
	£		£		£
Direct charitable expenditure					38,389
Staffing Costs - Projects & Core	-		38,389
Training Instructors & Ride Leaders	-		4,189		4,189
Venues & Events	-		2,078		2,078 1,118 758 160 9,313 56,005
Equipment	-		1,118
Volunteer expenses	-		758
Cycle lessons	-		160
Ancillarydirectproject costs	2,712		6.601
Total direct spending B2a	2,712		53,293

18

Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015

15 Support costs for charitable activities

Current Year SOFA ref Administrative overheads Membership subscriptions Software licences and expenses Staffing costs Liability and contents insurance Total support costs - Current Year B2d	Unrestricted funds	Restricted funds	Total funds	Prior Year Total funds
	2024	2024	2024	2023
	£	£	£	£
	911 158 - 292	120 - 916 318	1,031 158 916 610	781 151 1,170 439
	1,361 Unrestricted funds	1,354 Restricted funds	2,715 Prior Year Total funds 2023 £ 781 151 1,170 439 **2,541 **	2,541
Prior Year SOFA ref
	2023	2023
Administrative overheads Membership subscriptions Software licences and expenses Staffing costs Liability and contents insurance Total support costs - Prior Year B2d	£	£
	- - 330 - **330 **	781 151 840 439 2,211

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

19

Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015

16 Other Expenditure - Governance costs

Current Year SOFA ref	Unrestricted funds	Restricted funds	Total funds	Total funds	Prior Year Total funds
	2024	2024	2024		2023
	£	£	£		£
Independent Examiner's fees	-	-	-		960
Trustees' remuneration	-	282	282		1,990
Trustees' expenses	14	150	164		93
Total Governance costs B2e	14	**432 **	**446 **		3,043
Prior Year SOFA ref	Unrestricted funds	Restricted funds	Total funds
	2023	2023	2023
	£	£	£
Independent Examiner's fees		960	960 1,990 93
Trustees' remuneration	986	1,004
Trustees' expenses		93
Total Governance costs B2e	986	2,057	3,043

17 Total Charitable expenditure

Current Year SOFA ref	Unrestricted funds	Restricted funds	Total funds	Prior Year Total funds
	2024	2024	2024	2023
	£	£	£	£
Total direct spending B2a	2,714	86,770	89,484	56,005
Total support costs B2d	1,361	1,354	2,715	2,541
Total Governance costs B2e	14	432	**446 **	3043
Total charitable expenditure B2	4,089	**88,556 **	92,645	61,589
			Total funds
Prior Year SOFA ref	Unrestricted	Restricted
	funds	funds
	2023	2023	2023
	£	£	£
Total direct spending B2a	2,712	53,293	56,005
Total support costs B2d	330	2,211	2,541
Total Governance costs B2e	986	2,057	3043
Total charitable expenditure B2	4,028	57,561	61,589

20

Activity analysis of Income and expenditure for the year ended 31 March 2024

This analysis is classified by activity and not by conventional nominal descriptions.

18 Analysis of income by activity

8 Analysis of income by activity
SOFA ref Activity Donations and Grants A1 Total income as shown in the SOFA A	2024 £ 130,304 130,304	2023
		£
		115,743
		115,743

19 Analysis of charitable expenditure by activity

Activity	Direct	Support	Grant funded activities 2024 £ - - - Grant funded activities 2024 £ - - -	Total 2024 £ 89,484 2,715 92,199 Total 2024 £ 92,199 446 92,645	Total
	costs	costs
	2024 £ 89,484 - 89,484 Direct	2024 £ - 2,715 2,715 Support
					2023
					£
Primary purpose and ancillary trading1
Direct costs					56,005
Administrative overheads					2,541
Total Primary purpose and ancillary trading1					58,546
Summary of charitable costs by activity					Total
	costs	costs
	2024 £ 89,484 89,484	2024 £ 2,715 446 3,161
					2023
					£
Total Primary purpose and ancillary trading1					58,546
Total Governance costs as detailed in Note 16					3,043
Total charitable expenditure					61,589

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

The breakdown of this expenditure by type of spending (i.e. nominal classification) is detailed in note 17

21

Analysis of support and governance costs by charitable activities

Activity Primary purpose and ancillary trading1 Grand Total	Governance £ 446 446 2024	Finance £ - - 2024	Human Resources £ 916 916 2024	Other Overheads £ 1,799 1,799 2024	Total £ 3,161 2024
					3,161

20 Analysis of non-charitable expenditure by activity

Analysis of non-charitable expenditure by activity
Governance costs	2024	2023
	£	£
Other Expenditure - Governance costs as detailed in Note 16	446	3,043

22

cyclesisters.org.uk Registered charity no. 1183189