2023-09-23-accounts - Cornwall Life Recycle CIO

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Actions from Trustee Meeting 25th/04/2024

Apologies from Chris and Colin

Attended: Oliver, Anna, James and Emma

James has agreed to take the role of reviewing the Health and Safety policy
Emma to send the Health and Safety policy to James
Emma to circulate Theas email regarding Geronimo
Oliver to find the best contact in Pentreath and pass to Simon/Emma
Contact Nicky (Accounts)
To see she could help with a financial overview
Check Demis hourly rate
Latest account transactions pulled off for review
James agreed to create a maternity policy
James and Anna to put together a Job description for Simon
All agreed to set up a new position that everyone can apply for
Staff meeting on the morning of the 17[th] May 0900 to 1300
Anna to facilitate the meeting and the following invited: Emma, Ryan, Simon, Mark 2, Demi and Mark 3
Emma to send James:- Demis JD
Policies to be updated, printed out and put into a folder to be kept at the unit in Camborne.
Each child to have a file in the locked cabinet – to include childs specific needs and who is supporting the session.

Registered number 1185483

Cornwall Life Recycle CIO

Report and Accounts

23 September 2023

Cornwall Life Recycle CIO Report and accounts Contents

	Page
Company information	1
Directors' report	2
Accountants' report	3
Profit and loss account	4
Balance sheet	5
Notes to the accounts	6-8

Cornwall Life Recycle CIO Company Information

Trustees

Oliver Baines OBE Helen Cobb Annette Rule Colin Garrick Samuel Thomas Kevin Jackson

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 trustees present their report and accounts for the year ended 23 September 2023.

Principal activities

The company'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 directors during the year:

Oliver Baines OBE Helen Cobb Annette Rule Colin Garrick Samuel Thomas Kevin Jackson

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 2 July 2024 and signed on its behalf.

Oliver Baines, OBE Director

Cornwall Life Recycle CIO

Report to the directors on the preparation of the unaudited statutory accounts of Cornwall Life Recycle CIO for the year ended 23 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cornwall Life Recycle CIO for the year ended 23 September 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

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

2 July 2024

Cornwall Life Recycle CIO Income & Expenditure Account for the year ended 23 September 2023

Income & Funding Direct costs Gross surplus Administrative expenses Other operating income Operating surplus Loss on the disposal of tangible fixed assets Surplus Tax on profit Profit for the financial year	2023 £ 120,992 (48,397) 72,595 (62,316) - 10,279 (200) 10,079 - 10,079	2022 £ 89,802 (21,551) 68,251 (51,690) 450 17,011 (1,166) 15,845 - 15,845

Cornwall Life Recycle CIO Registered number: 1185483 Balance Sheet as at 23 September 2023

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 & expenditure account Total Funds	2023 £ 6,877 5,821 5,195 60,584 71,600 (10,928) 60,672 67,549 67,549 67,549	2022 £ 8,323 6,486 3,026 55,421 64,933 (15,786) 49,147 57,470 57,470 57,470

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.

Oliver Baines, OBE Chair Trustee Approved by the board on 2 July 2024

Cornwall Life Recycle CIO Notes to the Accounts for the year ended 23 September 2023

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).

Income

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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 and 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 equipment 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 2023

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 company 3 Tangible fixed assets Plant and machinery etc £ Cost At 24 September 2022 10,978 Additions - Disposals (150) At 23 September 2023 10,828 Depreciation At 24 September 2022 3,651 Charge for the year 1,817 On disposals (87) At 23 September 2023 5,381 Net book value At 23 September 2023 5,447 At 23 September 2022 7,327 4 Debtors Trade debtors Other debtors 5 Creditors: amounts falling due within one year Other creditors	2023 Number 5 Motor vehicles £ 1,765 1,048 (324) 2,489 769 477 (187) 1,059 1,430 996 2023 £ 1,200 3,995 5,195 2023 £ 10,928	2022 Number 3 Total £ 12,743 1,048 (474) 13,317 4,420 2,294 (274) 6,440 6,877 8,323 2022 £ - 3,026 3,026 2022 £ 15,786

Cornwall Life Recycle CIO Notes to the Accounts for the year ended 23 September 2023

6 Other information

Cornwall Life Recycle CIO is a private company limited by shares and incorporated 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 2023

This schedule does not form part of the statutory accounts

Income Direct costs Gross surplus Administrative expenses Other operating income Operating surplus Loss on the disposal of tangible fixed assets Surplus	2023 £ 120,992 (48,397) 72,595 (62,316) - 10,279 (200) 10,079	2022 £ 89,802 (21,551) 68,251 (51,690) 450 17,011 (1,166) 15,845

Cornwall Life Recycle CIO DeDetailed income and expenditure account for the year ended 23 September 2023

This schedule does not form part of the statutory accounts

Income Grant income Student training income Bike and equipment sales Bike servicing and repairs Other income Direct costs Workshop parts Bikes, parts and protective clothing for resale Subcontracted learning support Direct labour - learning support salaries Equipment expensed workshop Student refreshments Other direct costs Administrative expenses Employee costs: Wages and salaries Trustee 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 Postage Stationery and printing Subscriptions Insurance Equipment expensed Software Repairs and maintenance Depreciation Sundry expenses	2023 £ 91,840 15,158 13,248 548 198 120,992 4,733 1,041 15,067 26,641 486 349 80 48,397 27,615 6,040 697 2,580 141 1,433 2,461 13 40,980 9,000 147 1,645 1,109 548 12,449 429 773 186 234 1,186 268 90 145 2,294 - 5,605	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

Legal and professional costs:

Cornwall Life Recycle CIO DeDetailed income and expenditure account for the year ended 23 September 2023

This schedule does not form part of the statutory accounts

Accountancy fees Advertising and PR Other legal and professional Other operating income Other operating income	2023 £ 1,103 1,907 272 3,282 62,316 -	2022 £ 1,178 540 - 1,718 51,690 450

Issuer

Issuer Bailey Accountancy Document generated Tue, 2nd Jul 2024 9:23:19 UTC Document fingerprint 9930194b337b36481507709eed73da2f

Parties involved with this document

Document processed

Party + Fingerprint

Tue, 2nd Jul 2024 10:03:54 UTC Mr Oliver Baines OBE - Signer (f1336b9739cb47217072c4fad8cf2e6d) Audit history log Date Action Tue, 2nd Jul 2024 10:03:54 UTC Mr Oliver Baines OBE viewed the envelope (31.94.2.254) Tue, 2nd Jul 2024 10:03:54 UTC This envelope has been signed by all parties (31.94.2.254) Tue, 2nd Jul 2024 10:03:54 UTC Mr Oliver Baines OBE signed the envelope (31.94.2.254) Tue, 2nd Jul 2024 10:01:41 UTC Mr Oliver Baines OBE viewed the envelope (31.94.2.254) Tue, 2nd Jul 2024 9:23:28 UTC Document emailed to party email (18.130.63.124) Tue, 2nd Jul 2024 9:23:21 UTC Sent the envelope to Mr Oliver Baines OBE for signing. (13.41.224.141) Tue, 2nd Jul 2024 9:23:21 UTC Mr Oliver Baines OBE has been assigned to this envelope. (13.41.224.141) Tue, 2nd Jul 2024 9:23:21 UTC Envelope generated. (13.41.224.141) Tue, 2nd Jul 2024 9:23:21 UTC Document generated with fingerprint 9930194b337b36481507709eed73da2f. (13.41.224.141) Tue, 2nd Jul 2024 9:23:19 UTC Envelope generated with fingerprint 990a87c774a9def6dafb521b9307b2a1 (18.133.63.166)

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 2023	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: 22/07/2024 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