**TRUSTEES MEETING**
## **CORNWALL LIFE RECYCLE**
**wednesday**
**25[TH] JANUARY 2023**
**10.30 AT UNIT E2 FORMAL BUSINESS PARK CAMBORNE**
**Agenda**
1. Apologies Sam Thomas – Colin Garrick – Kevin Jackson
2. Minutes from previous meeting
3. Annette update on finances and funding – Lottery funding
4. Helen update on school activity
5. Update on new members of staff
6. Discussion about recruiting trustees
7. Helen – application from Mark Hammond to become a Trustee.
8. 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
1
**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
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 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
3
## **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|
|---|---|---|
4
**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 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 15 March 2023
5
**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.
6
**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.
7
## **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
8
## **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|
|---|---|---|
9
## **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|
|---|---|---|
10
## **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
-|
|---|---|---|
11
## **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**
|**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 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 ended**23 / 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**
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**