2020-09-23-accounts - Cornwall Life Recycle CIO

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Trustees' Annual Report for the period

From

Period end date

Period start date Period end date 24 Sept 2019 To 23 Sept 2020

Section A Reference and administration details

Charity name

Cornwall Life Recycle CIO

Other names charity is known by

Registered charity number (if any) 1185483

Charity's principal address

Unit E2 Formal Business Park Camborne Postcode TR14 0PY

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (ifany)
	Helen Cobb	Chair
	Annette Rule	Trustee
	Colin Garrick	Trustee
	Samuel Thomas	Trustee
	Oliver Baines OBE	Trustee

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name	Dates acted if not for whole year
N/A

Names and addresses of advisers (Optional information)

Type of adviser Name Address

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document Constitution (eg. trust deed, constitution) Association How the charity is constituted (eg. trust, association, company) New trustees can be appointed by the current trustees taking into Trustee selection methods consideration the skills, knowledge and experience required for this role (eg. appointed by, elected by)

(eg. trust, association, company)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

policies and procedures adopted for the induction and training of trustees;
the charity’s organisational structure and any wider network with which the charity works;
relationship with any related parties;
trustees’ consideration of major risks and the system and procedures to manage them.

Section C Objectives and activities

Summary of the objects of the charity set out in its governing document

THE PROTECTION AND PRESERVATION OF THE ENVIRONMENT FOR THE PUBLIC BENEFIT BY A) THE PROMOTION OF WASTE REDUCTION, RE-USE RECLAMATION, RECYCLING, USE OF RECYCLED PRODUCTS AND THE USE OF SURPLUS; B) BY THE RECYCLING OF UNWANTED OLD BICYCLES, WHICH PROVIDES TRANSPORT AND HEALTH BENEFITS TO PEOPLE IN CORNWALL. 2. TO PROMOTE SOCIAL INCLUSION FOR THE PUBLIC BENEFIT BY PREVENTING PEOPLE OF ALL AGES FROM BECOMING SOCIALLY EXCLUDED, RELIEVING THE NEEDS OF THOSE PEOPLE WHO ARE SOCIALLY

EXCLUDED AND ASSISTING THEM TO INTEGRATE INTO SOCIETY. IN PARTICULAR, BUT NOT EXCLUSIVELY, RELIEVING THE NEEDS OF PEOPLE WITH HEALTH ISSUES, LEARNING DIFFICULTIES, MENTAL HEALTH, ADDICTIONS AND OTHER DISADVANTAGES. TO WORK TO IMPROVE THE LIVES OF THOSE WHO ARE DISADVANTAGED. TO MENTOR AND SUPPORT IN A FRIENDLY SAFE ENVIRONMENT. TO LEARN NEW SKILLS, BUILDING CONFIDENCE AND SELF ESTEEM. SUPPORTING PEOPLE TO MOVE CLOSER TO VOLUNTEERING AND/OR EMPLOYMENT. TO RECYCLE OLD BICYCLES, PROVIDING LOW COST TRANSPORT ALLOWING PEOPLE OF ALL AGES IN CORNWALL TO RIDE FOR FUN AND HEALTH, REDUCING SOCIAL ISOLATION, TO RIDE TO WORK REDUCING TRAFFIC AND POLLUTION.

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

We rescue and rebuild old bicycles, we work with people of all ages who are disadvantaged by health, learning or a disability to achieve this, each person works on a one to one with a volunteer or member of staff, and they learn new skills that will help them in the future. They also learn to work as a team and make new friend. Reducing isolation and building confidence.

Because of Covid we have worked hard to recycle more bicycles as the demand for our recycled bicycles has grown. Cycling improves physical and mental health

Our aim is to make owning a bicycle affordable for everyone in Cornwall regardless of income or lifestyle

Our mission statement

To work to improve the lives of those who are disadvantaged To mentor and support in a friendly safe environment To learn new skills, building confidence and self esteem To work as a team

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

policy on grantmaking;
policy programme related investment;
contribution made by volunteers.

Section D Achievements and performance

We have supplied in excess of 100 bicycles to new homes, We have not been able to support as many disadvantaged Individuals as we would have liked, but due to Covid this Has not been possible

Section E Financial review

We have limited reserves but enough to continue for 6 months.

Brief statement of the

We look for financial support from funders to help us to continue our work

charity’s policy on reserves

Details of any funds materially in deficit

No deficit

Further financial review details (Optional information)

We have been very lucky to receive funding from the Community fund from the Lottery.

You may choose to include from the Lottery. additional information, where This has paid for the rent and utilities, new parts to replace old worn parts relevant about: and salaries.

the charity’s principal sources of funds (including any fundraising);

Leaving us free to concentrate on helping as many people as possible

As we are a recycling project we recycle 90% of the materials we use. We have found ways to recycle metal, rubber, paper and plastic and encourage anyone who attends or visits the project to do the same

how expenditure has supported the key objectives of the charity;
investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Position (eg Secretary, Chair, etc)

Date

Registered number 1185483 Cornwall Life Recycle CIO Report and Accounts 23 September 2020

Cornwall Life Recycle CIO Report and accounts Contents Page Charity information Trustees report Accountsnts. report Income and Expenditure account Balance sheet Notes to the accounts

Cornwall Life ReGycle CIO Charity Information Trustees Helen Cobb Annette Rule Colin Garrick Samuel Thomas Oliver Baines OBE Accountants Bailey Accountsncy Lichen Bridge Moor Redruth Cornwall TR16 4QA Bankers Nalwesl 4 Commercial Square Camborne Cornwall TR14 8EB Registered office Unit E2 Formal Business Park Camborne Cornwall TR14 OPY Registered number 1185483

Cornwall Life Recycle CIO Registered number: Trustees. Report 1185483 The Chair trustee presents her report and accounts for the year ended 23 September 2020. Principal activities The charity's prineipal activity during the year continued lo be the rescue and rebuild of old bicycles, we work with people of all ages who are disadvantaged by health, learning or a disability lo achieve this, each person works on a one lo one with a volunteer or member of stsff, and they learn new skills that will help them in the future. They also learn lo work as a team and make new friends reducing isolation and building confidence. Our aim is lo make owning a bicycle affordable for everyone In Cornwall regardless of income or lifestyle Trustees The following persons served as trustees during the year". Helen Cobb Annette Rule Colin Garrick Samuel Thomas Oliver Baines OBE Charitable reporting These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise slated in the relevant nolelsl lo these accounts. The accounts have been prepared in accordance with.. The Statement of Recommended Practice. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014, and the Financial Reporting Stsndard applicable in the United Kingdom and Republic of Ireland IFRS 1021,. and and with the Charities Act 2011. This report was approved by the board on 14 May 2021 and signed on its behalf. Helen Cobb Chair Trustee

Cornwall Life Recycle CIO Report to the trusteess on the preparation of the unaudited statutory accounts of Cornwall Life Recycle CIO forthe year ended 23 September 2020 In order lo assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the accounts of Cornwall Life Recycle CIO for the year ended 23 September 2020 which comprise of the Income and Expenditure Account, the Balance Sheet and the related notes from the charity s accounting records and from information and explanations you have given us. You consider that the charity is exempl from the slatulory requirement for an audit for the year. As a practising member firm of the Association of Chartered Certified Aceounlanls, we are subject lo its ethical and other professional requirements which are detailed al http".Ilrulebook.accaglob81.coml Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http..l.aCcagl0bal.c0mIfaC1sheet163. Bailey Accountan Chartered Certified Accounlanls Lichen Bridge Moor Redruth Cornwall TR16 4QA 14 May 2021

Cornwall Life ReGycle CIO Income & Expenditure Account for the year ended 23 September 2020 2020 Income & Funding 79,401 Direct costs 11,8721 Gross surplus 77,529 Administrative expenses 143,3991 Operating surplus 34,130 Loss on the disposal of tangible fixed assets 12421 Surplus 33,888

Cornwall Life ReGycle CIO Registered number: Balance Sheet as at 23 September 2020 1185483 Notes 2020 Fixed assets Tangible assets 2,472 Current assets Stocks Debtors Cash at bank and in hand 7,795 1,550 31,632 40,977 Creditors- amounts falling due within one year 19,5611 Net current assets 31,416 Net assets 33,888 Funds ofthe charity Income and expenditure account 33,888 Total Funds 33,888 The accounts have been prepared in accordance with.. The Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014., and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021,. and and with the Charities Act 2011. The trustees confirm that an audit is not required for the year. Helen Cobb Chair Trustee Approved by the board on 14 May 2021

Cornwall Life Recycle CIO Notes to the Accounts for the year ended 23 September 2020 1 Accounting policies BasiTS of preporation The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Stsndard applicable in the UK and Republic of Ireland las applied to small entities by section 1A of the standard) and the Slalement of Recommended Practice.. Accounting and Reporting by Charities and the Charities Act 2011. Income Income & Grant Funding is measured at the fair value of the consideration reiVed or receivable, nel of discounts and value added taxes. Income includes revenue earned from the sale of goods and from the rendering of services. Income from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Income from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed lo dale to the total eslimaled contract costs. Format of Accounts & Going Concern The Trustees consider that the headings of the income and expenditure used in these accounts are relevant to this charity's trading activities. The accounts have been prepared on a going conrn basis. Tangible fixed assets Tangible fixed assets are measured al cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows.. Office equipment Workshop eqiupment 250A reducing balance 25'/o reducing balance Stocks Stocks are measured al the lower of cost and estimated selling price less costs lo complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Debtors Short term debtors are measured at transaction price Iwhich is usually the invoice pricel, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised al transaction pri including any transaction costs and subsequently measured al amortised cost determined using the effective Inte$t method, less any impairment losses for bad and doubttul debts. Creditors Short term creditors are measured at transaction price Iwhich is usually the invoice pricel. Loans and other financial liabilities are initially recognised at tonsaction price net of any transaction costs and subsequently measured al amortised cost determined using the effective interest method.

Cornwall Life Recycle CIO Notes to the Accounts for the year ended 23 September 2020 Provisions Provisions lie liabilities of uncertain liming or amount) are recognised when there is an obligation at the reporting dale as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. Pensions Contributions to defined contribubon plans are expensed in the period lo which they relate. 2 Employees 2020 Number Average number of persons employed by the charity 3 Tangible fixed assets Worshop equipment Office eqlupment Total Cost Additions Disposals Al 23 September 2020 2,702 11381 2,564 838 {1041 734 3,540 12421 3,298 Depreciation Charge for the year Al 23 September 2020 642 184 826 642 184 826 Net book value At 23 September 2020 1,922 550 2,472 4 Debtors 2020 Other debtors 1,550 S Creditors.. amounts falling due within one year 2020 Other creditors 9,561 Other creditors includes accrued income al the year*nd comprising of the balances of 2 funding amounts received during the year from National Lottery- £8,182 and Cornwall Community Foundation - £333. 6 Othor information Cornwall Life Recycle CIO is a resilered charity in England. Ils registered office is.. Unit E2 Formal Business Park Camborne Cornwall TR14 OPY