2022-09-23-accounts - Cornwall Life Recycle CIO

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TRUSTEES MEETING

CORNWALL LIFE RECYCLE

wednesday

25[TH] JANUARY 2023

10.30 AT UNIT E2 FORMAL BUSINESS PARK CAMBORNE

Agenda

Apologies Sam Thomas – Colin Garrick – Kevin Jackson
Minutes from previous meeting
Annette update on finances and funding – Lottery funding
Helen update on school activity
Update on new members of staff
Discussion about recruiting trustees
Helen – application from Mark Hammond to become a Trustee.
Any other business

Minutes of the Trustees Meeting 25[th] January 2023

Apologies- Sam Thomas – Colin Garrick – Kevin Jackson

Attending – Helen Cobb – Oliver Baines – Annette Rule

AR Finances, Lottery Funding will cover an evaluation of the project and The Roles of

Project Manager
Cycle Mechanic
Part time Admin

The lottery will cover these costs for Five Years

AR New members of Staff

Emma Roberts Project Manager Qualified Ride leader and coach
Mark Mullen Cycle mechanic – many qualifications including mental health – Cycle coach and taking Level 2 cycle systems qualification in Cycle Mechanics in March
Demelza Ellis – part time admin – good all round knowledge of special needs children

HC update on school places

2 students - Monday to Thursday max number working one to one with a member of the team.
Friday kept for group activities.
We are working with Camborne Science academy to build a programme on school grounds and utilise the Friday group sessions in the unit.

HC New Trustee

We have been asked by Mark Hammond who is a self-employed Cycle Mechanic if he can become a Trustee, he has a good knowledge of the project, he has worked at Camborne College and is a qualified cycle technician trainer, he understands the needs of the people Life Recycle support and is keen to use his knowledge for the good of the project
It was agreed that we would offer Mr Hammond the opportunity to become a Trustee at Cornwall Life Recycle

AR Funding

We have a crowd funder running at the moment for £5,000 this will be shared half will go towards the rent and utilities and the other half will be used to fund Free outdoor activities – Fix and Repair sessions in the community and led bicycle rides for people who want to ride but need confidence, this is good for people who are older – have mental health issues and other health related issues.

OB Finances

The Trustees need more contact with the day to day running.
Finances - quarterly reports
Trustees to get more involved with some aspects e.g. funding – promotion

In conclusion it was decided that we need to have a meeting with all the trustees during the Easter holidays the schools break up around the 3[rd] of April, Annette will be asking the other trustees for available dates after 3[rd] April.

Registered number 1185483

Cornwall Life Recycle CIO

Report and Accounts

23 September 2022

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 Kevin Jackson - appointed 01/10/2021

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 2022.

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 Kevin Jackson appointed 01/10/2021

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 15 March 2023 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 2022

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 2022 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

14 March 2023

Cornwall Life Recycle CIO Income & Expenditure Account for the year ended 23 September 2022

Income & Funding Direct costs Gross surplus Administrative expenses Other operating income Operating surplus Loss on the disposal of tangible fixed assets Surplus	2022 £ 89,802 (21,551) 68,251 (51,690) 450 17,011 (1,166) 15,845	2021 £ 69,910 (9,146) 60,764 (52,939) - 7,825 (88) 7,737

Cornwall Life Recycle CIO Registered number: 1185483 Balance Sheet as at 23 September 2022

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	2022 £ 8,323 6,486 3,026 55,421 64,933 (15,786) 49,147 57,470 57,470 57,470	2021 £ 3,901 9,045 211 47,630 56,886 (19,162) 37,724 41,625 41,625 41,625

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 15 March 2023

Cornwall Life Recycle CIO Notes to the Accounts for the year ended 23 September 2022

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 2022

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 2021 2,978 Additions 8,000 Disposals - At 23 September 2022 10,978 Depreciation At 24 September 2021 1,444 Charge for the year 2,620 On disposals - At 23 September 2022 4,064 Net book value At 23 September 2022 6,914 At 23 September 2021 1,534 4 Debtors Other debtors 5 Creditors: amounts falling due within one year Taxation and social security costs Other creditors	2022 Number 3 Office eqiupment £ 3,021 364 (1,620) 1,765 654 155 (453) 356 1,409 2,367 2022 £ 3,026 2022 £ - 15,786 15,786	2021 Number 3 Total £ 5,999 8,364 (1,620) 12,743 2,098 2,775 (453) 4,420 8,323 3,901 2021 £ 211 2021 £ 1,074 18,088 19,162

Other creditors include accrued income at the year-end comprising of the balances of 4 grants received during the year from National Lottery - £675 & £5,833, Cornwall Community Foundation - £2,375 and Claire Milne Trust - £6,042.

Cornwall Life Recycle CIO Notes to the Accounts for the year ended 23 September 2022

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 2022

This schedule does not form part of the statutory accounts

Income Direct costs Gross surplus Administrative expenses Other operating income Surplus Loss on the disposal of tangible fixed assets Surplus	2022 £ 89,802 (21,551) 68,251 (51,690) 450 17,011 (1,166) 15,845	2021 £ 69,910 (9,146) 60,764 (52,939) - 7,825 (88) 7,737

Cornwall Life Recycle CIO Detailed income and expenditure account for the year ended 23 September 2022

This schedule does not form part of the statutory accounts

Grant Income & Funding Grant Income Student training Income Bike & equipment sales Direct costs Workshop parts Subcontractor costs Direct labour Student refreshments Administrative expenses Employee costs: Wages and salaries Directors' salaries Pensions Staff training and welfare Travel and subsistence Volunteer mileage Motor expenses Entertaining Premises costs: Rent Rates Service charges Light and heat Cleaning General administrative expenses: Telephone and internet Stationery and printing Subscriptions Insurance Equipment expensed Software Repairs and maintenance Health & Safety Depreciation Sundry expenses Legal and professional costs: Accountancy fees Advertising and PR Other legal and professional	2022 £ 61,267 10,400 18,135 89,802 11,493 - 9,225 833 21,551 19,386 10,335 522 - 50 1,377 954 148 32,772 9,321 177 1,194 1,138 205 12,035 637 156 239 699 124 - 337 - 2,776 197 5,165 1,178 540 - 1,718	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

Cornwall Life Recycle CIO Detailed income and expenditure account for the year ended 23 September 2022

This schedule does not form part of the statutory accounts

Other operating income Other operating income	2022 £ 51,690 450	2021 £ 52,939 -

Issuer

Issuer Bailey Accountancy Document generated Wed, 15th Mar 2023 14:13:09 UTC Document fingerprint e9b0755e72d47cdbb23e431cb05226cf

Parties involved with this document

Document processed

Party + Fingerprint

Wed, 15th Mar 2023 15:03:38 UTC Miss Helen Cobb - Signer (859f695c8dc07fff30e9d26530475f05) Audit history log Date Action Wed, 15th Mar 2023 15:03:41 UTC Miss Helen Cobb viewed the envelope. (51.146.239.19) Wed, 15th Mar 2023 15:03:38 UTC The envelope has been signed by all parties. (51.146.239.19) Wed, 15th Mar 2023 15:03:38 UTC Miss Helen Cobb signed the envelope. (51.146.239.19) Wed, 15th Mar 2023 15:01:49 UTC Miss Helen Cobb viewed the envelope. (51.146.239.19) Wed, 15th Mar 2023 14:13:17 UTC Document emailed to party email (18.135.100.227) Wed, 15th Mar 2023 14:13:10 UTC Sent the envelope to Miss Helen Cobb for signing. (18.130.173.79) Wed, 15th Mar 2023 14:13:10 UTC Miss Helen Cobb has been assigned to this envelope. (18.130.173.79) Wed, 15th Mar 2023 14:13:10 UTC Envelope generated. (18.130.173.79) Wed, 15th Mar 2023 14:13:10 UTC Document generated with fingerprint e9b0755e72d47cdbb23e431cb05226cf. (18.130.173.79) Wed, 15th Mar 2023 14:13:09 UTC Envelope generated with fingerprint ab354f0fe048ebdf51f10aa086708fc9 (35.176.231.177)

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 2022	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 / 2022. 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: 14/03/2023 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