## **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
1
**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
2
## **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
3
## **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|
|---|---|---|
4
**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
5
**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.
6
**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|
|---|---|---|
7
## **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
8
## **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|
|---|---|---|
9
## **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:
10
## **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|
|---|---|---|
11
## **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**
|**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 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 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:** 22/07/2024 **Name:** Nicola Bowtle **Relevant professional** ACCA **qualification(s) or body (if any):**
1
**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** .
2
**Oct 2018**
**IER**