2021-09-23-accounts - Cornwall Life Recycle CIO

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Trustees' Annual Report for the period

From

Period end date

Period start date Period end date 24 Sept 2020 To 23 Sept 2021

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 300 bicycles to new homes.

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)

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

the charity’s principal sources of funds (including any fundraising);
how expenditure has supported the key objectives of the charity;

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

This has paid for the rent and utilities, new parts to replace old worn parts and salaries.

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

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 2021

Cornwall Life Recycle CIO Report and accounts Contents

	Page
Charity information	1
Trustees report	2
Accountants' report	3
Income and Expenditure account	4
Balance sheet	5
Notes to the accounts	6-8

Cornwall Life Recycle CIO Charity Information

Trustees

Helen Cobb Annette Rule Colin Garrick Samuel Thomas Oliver Baines OBE

Accountants

Bailey Accountancy Lichen Bridge Moor Redruth Cornwall TR16 4QA

Bankers

Natwest 4 Commercial Square Camborne Cornwall TR14 8EB

Registered office

Unit E2 Formal Business Park Camborne Cornwall TR14 0PY

Registered number 1185483

Cornwall Life Recycle CIO Registered number: 1185483 Trustees' Report

The Chair trustee presents her report and accounts for the year ended 23 September 2021.

Principal activities

The charity's principal activity during the year continued to be the rescue and rebuild of 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 friends reducing isolation and building confidence. Our aim is to 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 stated in the relevant note(s) to 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 (FRS 102) issued on 16 July 2014; and

the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102); and

with the Charities Act 2011.

This report was approved by the board on 31 May 2022 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 for the year ended 23 September 2021

In order to 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 2021 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 exempt from the statutory requirement for an audit for the year.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/

Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.

Bailey Accountancy Chartered Certified Accountants Lichen Bridge Moor Redruth Cornwall TR16 4QA

31 May 2022

Cornwall Life Recycle CIO Income & Expenditure Account for the year ended 23 September 2021

Income & Funding Direct costs Gross surplus Administrative expenses Operating surplus Loss on the disposal of tangible fixed assets Surplus	2021 £ 69,910 (9,146) 60,764 (52,939) 7,825 (88) 7,737	2020 £ 79,402 (1,872) 77,530 (43,399) 34,131 (242) 33,889

Cornwall Life Recycle CIO Registered number: 1185483 Balance Sheet as at 23 September 2021

Notes Fixed assets Tangible assets 3 Current assets Stocks Debtors 4 Cash at bank and in hand Creditors: amounts falling due within one year 5 Net current assets Net assets Funds of the charity Income and expenditure account Total Funds	2021 £ 3,901 9,045 211 47,630 56,886 (19,162) 37,724 41,625 41,625 41,625	2020 £ 2,472 7,795 1,550 31,632 40,977 (9,561) 31,416 33,888 33,888 33,888

The accounts have been prepared in accordance with:

the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102); 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 31 May 2022

Cornwall Life Recycle CIO Notes to the Accounts for the year ended 23 September 2021

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement 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 received or receivable, net 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 to date to the total estimated 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 concern basis.

Tangible fixed assets

Tangible fixed assets are measured at 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 25% reducing balance Workshop eqiupment 25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to 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 (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Cornwall Life Recycle CIO Notes to the Accounts for the year ended 23 September 2021

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date 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 contribution plans are expensed in the period to which they relate.

2 Employees Average number of persons employed by the charity 3 Tangible fixed assets Workshop equipment £ Cost At 24 September 2020 2,564 Additions 514 Disposals (100) At 23 September 2021 2,978 Depreciation At 24 September 2020 642 Charge for the year 802 At 23 September 2021 1,444 Net book value At 23 September 2021 1,534 At 23 September 2020 1,922 4 Debtors Other debtors 5 Creditors: amounts falling due within one year Taxation and social security costs Other creditors	2021 Number 3 Office eqiupment £ 734 2,304 (17) 3,021 184 470 654 2,367 550 2021 £ 211 2021 £ 1,074 18,088 19,162	2020 Number 3 Total £ 3,298 2,818 (117) 5,999 826 1,272 2,098 3,901 2,472 2020 £ 1,550 2020 £ - 9,561 9,561

Other creditors includes accrued income at the year-end comprising of the balances of 2 grants received during the year from National Lottery - £12,273 and Cornwall Community Foundation - £4,450.

Cornwall Life Recycle CIO Notes to the Accounts for the year ended 23 September 2021

6 Other information
Cornwall Life Recycle CIO is a resitered charity in England. Its registered office is: Unit E2

Formal Business Park Camborne Cornwall TR14 0PY

Cornwall Life Recycle CIO Detailed income and expenditure account for the year ended 23 September 2021

This schedule does not form part of the statutory accounts

Income Direct costs Gross surplus Administrative expenses Surplus Loss on the disposal of tangible fixed assets Surplus	2021 £ 69,910 (9,146) 60,764 (52,939) 7,825 (88) 7,737	2020 £ 79,402 (1,872) 77,530 (43,399) 34,131 (242) 33,889

Cornwall Life Recycle CIO Detailed income and expenditure account for the year ended 23 September 2021

This schedule does not form part of the statutory accounts

Grant Income & Funding Grant Income Student training Income Donations Direct costs Workshop parts Subcontractor costs Student refreshments Administrative expenses Employee costs: Wages and salaries Pensions Staff training and welfare Travel and subsistence Volunteer mileage Motor expenses Premises costs: Rent Rates Service charges Light and heat General administrative expenses: Telephone and internet Postage Stationery and printing Insurance Equipment expensed Software Repairs and maintenance Health & Safety Depreciation Legal and professional costs: Accountancy fees Advertising and PR Other legal and professional	2021 £ 57,312 4,150 8,448 69,910 7,815 900 431 9,146 32,947 243 180 552 3,294 - 37,216 7,043 171 935 708 8,857 729 - 539 613 109 220 803 505 1,301 4,819 946 662 439 2,047 52,939	2020 £ 67,193 5,730 6,478 79,401 1,559 - 313 1,872 20,530 77 3,000 970 3,306 147 28,030 8,125 54 1,090 486 9,755 708 56 684 465 - - 1,086 503 825 4,327 977 237 73 1,287 43,399

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Charity Name Cornwall Life Recycle CIO	Charity Name Cornwall Life Recycle CIO	Charity Name Cornwall Life Recycle CIO

23 September 2021	Charity no (if any)	1185483

1-8 (remember to include the page numbers of additional sheets)
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended23 / 09 / 2021. As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 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 The charity’s gross income exceeded £25,000 and I am qualified to examiner's statement undertake the examination by being a qualified member of ACCA.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did 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.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Please delete the words in the brackets if they do not apply.

Signed: Date: 31/05/2022 Name: Nicola Bowtle Relevant professional ACCA qualification(s) or body (if any):

Oct 2018

IER

Address: Lichen, Bridge Moor, Redruth, Cornwall TR16 4QA

Section B Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

Oct 2018

IER