## **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**
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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|||
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**Names of the trustees for the charity, if any, (for example, any custodian trustees)**
|**Name**|**Dates acted if not for whole year**|
|---|---|
|N/A||
|||
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1
## **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
2
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.
3
## **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**
4
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
1
**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
2
## **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
3
## **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|
|---|---|---|
4
**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 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.
The trustees confirm that an audit is not required for the year.
Helen Cobb Chair Trustee Approved by the board on 31 May 2022
5
**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.
6
**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.
7
## **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
8
## **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|
|---|---|---|
9
## **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|
|---|---|---|
10
## **Independent examiner's report on the accounts**
**Section A Independent Examiner’s Report**
|**Report to the trustees/**
**members of**
**On accounts for the year**
**ended**
**Set out on pages**
**Responsibilities and**
**basis of 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 ended**23 / 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**
1
**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**
2
**IER**