Wish List Bikers Charity AGM 5 July 2024
Chairman’s Report 2024
This report will be shorter than previously as we no longer have to document how the Charity came into being, just its progress.
Our outstanding news for 2023-4 was the purchase of a replacement trike, WiLBa. It is automatic, easier to drive, larger in size and more powerful than its predecessor. Its acquisition is due in no small part to the generosity of our donors in general, but in some of our members in particular. With logos, adaptations, maintenance and a high degree of polishing we have started 2024 in good form mechanically.
We ended 2023 on a total number of rides of 131 (that is 262 very happy people). This compares with 40-50 in previous years, excluding 2020 when there were none due to COVID.
Year to date we have completed 38 rides with 20+ more due in the next couple of weeks.
While on the subject of benefactors I would like to thank our many friends and groups for their continued support, particularly two of the Lowestoft Rotary Clubs, and I am sure that Alex will elaborate further.
We have continued to attend the usual four events to maintain our profile within the community. Sotterley Show, Heveningham Hall Country Fair, Chet Valley Fair and the East of England Motorcycle Show (Copdock), and these have sparked interest from a national Disability Group for ABI, a local specialist neuro rehabilitation unit, and EACH.
Meanwhile Alex has continued to work tirelessly behind the scenes, sorting out the multiple areas of our finances, interacting with HMRC and Charities Commission and spending many hours on the phone. His coup de grace this year was to arrange motor insurance when our previous insurer removed themselves from the motor market. His dogged determination and ability to pull a rabbit out of the insurance hat, when nobody else in the country would provide cover, is the reason that we are able to be here at the AGM tonight, rather than be winding the charity up.
Our members, old and new, have continued to be a very reliable, sociable and thoroughly lovely group of people to work with, and generous with their time. A couple of them are increasing their commitment and becoming Trustees, if ratified later in this meeting. On a personal note, I am pleased and thankful that I have been relieved of many of the admin and driving responsibilities and am very mindful of the backing of my lovely wife when I disappear into the study or delay our plans to deal with Wish List Bikers tasks. She, of course, may be pleased to see less of me.
Looking to the future, with the increase in number of members in direct contact with our sick and disabled users, there will need to be some changes in our procedures to ensure consistency in training and standards of care and safety. (Hitherto a lot of our knowledge has been gained by osmosis over the last five years.) Any changes will be undertaken sensitively and mindfully, remembering that we joined this charity not only to help others, but also to take enjoyment from it for ourselves. The task for the Trustees will be to very much maintain this ethos for members and users alike.
And finally, today Richard is resigning his position as Secretary, which he has held for two years. He started at a time when our secretariat was in a somewhat parlous state, and has
been instrumental in organising our records, Google drive and training schedules. He and Jane are moving to the wilds of Norfolk but will retain their membership. I am hoping that Richard will continue to ride for us, spreading news of our existence to a wider audience. I am sure that we all wish Jane and Richard the very best for their new ventures, and on behalf of us all extend our great thanks and appreciation for what they have achieved here at WLBC.
Keith Lightfoot
Chairman
Wish List Bikers Charity Reg. No. 1187285 from 10th January 2020
AK
Wish List Bikers Charity
4[th] Annual General Meeting
5[th] July 2024
Financial Report
Year ended 31[st] March 2024
By
Alex Knell
Treasurer & Trustee
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Date: 05 July 2024
Wish List Bikers Charity Reg. No. 1187285 from 10th January 2020
AK
1. Overview of the Year to 31[st] March 2024
After “the Covid years” in the doldrums, the Trustees were determined to reinvigorate the Charity. Two main events influenced the year to 31[st] March 2024.
Firstly, we expanded the number of riders up to 10. Richard was highly instrumental in this recruitment drive.
Secondly, we acquired a newer and more “fit-for-purpose” trike, which our esteemed Chairman saw through. With a combination of reserves, member donations, grants and loans, the Charity purchased a Rewako RF1-ST3.
Other changes included WLBC registering for Gift Aid, which is now dealt with in the accounts. £1,492 of the £1,641 claimed relates to 3 years prior to 2024, which would have begun to lapse out of date.
Also during the year the Xero Accounting software was commissioned and implemented with a full year parallel run, simplifying our record keeping.
In other words, we have completely transformed the Charity.
The new riders and volunteers have increased in numbers and skill sets.
The new trike - she’s quite a beauty!
The new Trustees. With Richard stepping down and 2 new Trustees (Roger and Ken) the mix has changed.
New administration and finance systems.
I’d personally like to say “Thank You” to Richard his valuable and professional contribution. He will be handing over the reins of Secretary to Roger.
2. Financial Report
Please refer to Section 5. Financial Accounts
WLBC was in a good financial position at 31st March 2024.
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A cash position with funds of £ 8,624 (2023: £ 13,274). – Line 20, 21, 22
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£1,093 (2023: £ 3,356) of the cash balance is ring-fenced grant monies. This money has been granted for specific purposes and is gradually being allocated, where appropriate, towards relevant expenditure. The purposes are:
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£ 303 for training.
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£ 790 for software.
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We have liabilities, by way of loans, of £7,200. – Line 23
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Reg. No. 1187285 from 10th January 2020
Wish List Bikers Charity
1. Income
Direct Donations – Line 1
These are from individuals and organisations continued to be generous at £9,253 (2023 £2,977). Notable donations:
| Member | donations in the year | £6,055 |
|---|---|---|
| Rotary Club of Lowestoft East Point | £1,000 | |
| Rotary Club of Lowestoft South | £500 | |
| Langley Prep School | £228 | |
| Sundry Donations & Shows | £1,470 | |
| Grants– | Line 2 | |
| Grants of £5,470 were received (2023: £7,138). |
New Trike - Discretionary Locality Grants – East Suffolk Council/Suffolk County Council £3,500 Adnams Community Trust – New Heavy-Duty Gazebo £1,970
Donations for rides – Line 3
People and organisations donated £2,536 (2023: £1,067) as our activities came back to life. We undertook 131 rides (2023: 47).
HMRC Gift Aid – Line 4
Registration for Gift Aid was completed in the year. The majority of the £1,641 (2023: £nil) was for the current and previous 3 years of donations that were sifted out as being eligible. This will now be a regular income category.
Events Income – Line 5
A Charity evening at the Royal Norfolk & Suffolk Yacht Club in June 2023, raised £2,712 (net of costs). A big “Thank You” to my other half, Jos, and Mrs Carol Lightfoot for pulling of such a successful evening.
That worked out at about £900 per hour generated, which is phenomenal.
Other Income – Line 6
This totalled £310 (2023: £214) and includes Bank interest received of £220 (2023: £52); Membership Fees and other minor donations.
Total Income – Line 7
The overall picture for income was £21,922 (2023: £11,398) reflecting the uplift in activity, as well as the donations towards the new Trike by members.
2. Expenditure
Motor Vehicle Costs – Line 8 were £1,541 (2023: £1,167)
These are costs of running the trike, such as fuel, repairs, road tax and insurances. As already mentioned, we undertook 131 rides compared to 47 in 2023. The higher activity led to higher fuel costs.
Fixed costs of road tax, insurance and servicing were higher, largely due to inflation.
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Wish List Bikers Charity Reg. No. 1187285 from 10th January 2020
AK
Equipment Costs – Line 9 were £30,437 (2023: £4,483) The replacement Trike cost £28,427 and was funded by:
o Reserves £9,372 o Donations from Members £6,055 o Grants £3,500 o Loans from Members £9,500
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Ringfenced funds within Reserves from the Hospital Saturday Fund from November 2022 for £2,000 are now released towards the new Trike.
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A new gazebo costing £1,970 was purchased and was fully funded by a grant from Adnams Community Trust, all ringfenced funds also being released.
Other minor expenses towards cables and helmets were also incurred.
Training Costs – Line 10 were £103 (2023: £587) Training expenses were: Safeguarding - Andrew Bigg £78 Hugger - Ken Moore £25 Ringfenced funds were released for these courses.
General Insurances – Line 11 were £640 (2023: £555)
We have added a Gazebo during the year, raising the premium, as well as inflation.
Administration Costs (inc Marketing) – Line 12 were £823 (2023: £671) Marketing Costs £251 (2023: £46) IT Costs £108 (2023: £105) - releasing ringfenced funds Telephone £33 (2023: £31) DBS Checks £167 (2023: £74) - releasing ringfenced funds Stationery £107 (2023: £43) Meeting Costs £157 (2023: £370) - food for catering for group meetings
Accountancy Costs – Line 13 were £155 (2023: £nil)
Since registration for Gift Aid, WLBC are now obliged to submit a Corporation Tax return. This is done at cost by Edward Back & Co, Accountants, who made the electronic submission for us.
Bank Charges – Line 14 were £72 (2023: £63)
HSBC charge us a monthly fee and handling charges for cheques and cash.
3. Surplus / (Deficit) – Line 15
The net result of or activities, taking into consideration all income and expenditure, we ended the year with a deficit to reserves of £11,850 (2023: Surplus £3,870).
The Net Closing Surplus ( Line 18 ) is £1,424 carried forward.
The replacement trike is a one-year cost as this is Income & Expenditure-based accounting. Under the accruals basis the write-off would be over 4 or 5 years.
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Wish List Bikers Charity Reg. No. 1187285 from 10th January 2020
AK
4. Cash - Lines 20, 21, 22
The bank accounts add to £8,624 (2023: £13,274)
5. Loans - Lines 23
There are 2 loans in place. Loan 1 is with Roger Goshawk and Loan 2 is with Keith Lightfoot.
One – Principal is £1,500, £300 repaid. £1,200 remaining. Repayments £100 each month. Two – Principal is £8,000, £2,000 repaid. £6,000 remaining. Repayments £2,000 each December. Total – Principal £9,500, £2,300 repaid. £7,200 remaining,
Cash & Loans together equate to the Reserves carried forward ( Line 24 ) £8,624 - £7,200 = £1,424 (2023: £13,274)
3. Summary & Outlook
WLBC was in a good financial position on 31[st] March 2024.
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We had a strong cash position with funds of £ 8,624 (2023: £ 13,274).
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Loans are in place for £7,200.
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£1,093 of the cash balance was ring-fenced (2023: £3.356).
We are through the worst possible operating environment during the financial years of Covid-19. We have come out the other side and used most of our reserves plus grants, ringfenced funds, donations and loans to acquire a new trike.
We recruited 7 new riders, now totalling 10 to ease the riding rotas.
We have (since year-end) sourced a new motor insurance policy, which has more future certainty about it. In fact, BikeSure/Adrian Flux may sponsor us in the future. Anyone involved in that episode will probably still be feeling the shockwaves!
All of this moves the WLBC forward to provide more rides for sick and disabled clients. This is our raison d’être.
4. Today’s Position (5[th] July 2024)
WLBC has been busy in the 3 months since the year-end being reported today.
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We have strengthened our cash position with funds of £ 10,941 (£ 8,624 at 1[st] April)
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We had reduced our loans to £6,800 (£7,200 at 1[st] April 2024)
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32 rides have been undertaken so far this year.
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£ 985 of the cash balance is ring-fenced (£1,093 at 1[st] April).
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£ 682 of the cash balances is ring-fenced for computer software and hardware.
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£ 303 of the cash balances is ring-fenced for training.
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All the funds ring-fenced for a new trike have been released.
Finally, we are today saying goodbye to Richard, who joined us in 2020 and became a Trustee in 2022. As I said, thank you for your valuable contribution.
Welcome to Roger Goshawk and Ken Moore.
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Wish List Bikers Charity Reg. No. 1187285 from 10th January 2020
AK
5. Financial Accounts
| Income & Expenditure Line Income 1 Donations 2 Grants 3 Rides 4 HMRC Gi� Aid 5 Events Income 6 Other Income 7 Total Income Expenditure 8 Motor Vehicle Costs 1,541 9 Equipment 30,437 10 Training 103 11 General Insurances 640 12 Administration Costs 823 13 Accountancy Fees 155 14 Bank Charges 72 15 Surplus / (Deficit) Reserves 16 Opening Surplus 17 Surplus/(Deficit) in Period 18 Closing Surplus / (Deficit) 19 Rides Year-to-Date |
Year 01-Apr-23 to 31-Mar-24 9,253 5,470 2,536 1,641 2,712 310 21,922 - 33,771 - (11,850) - 13,274 (11,850) 1,424 - 131 |
Prior Year | |
|---|---|---|---|
1,167 4,483 587 555 671 - 63 |
01-Apr-22 to 31-Mar-23 2,977 7,138 1,067 - - 214 11,398 7,527 3,870 9,404 3,870 13,274 |
||
| 47 | |||
| Balance Sheet | |||
| 20 Bank - Current account 21 Bank - Deposit account 22 Bank - Events account 23 Loans 24 25 Grants Ringfenced - All |
1,271 7,351 2 (7,200) 1,424 - - 1,093 |
211 13,062 1 - 13,274 |
|
| - 3,356 |
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Date: 05 July 2024
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Wish List Bikers Charity
Reg. No. 1187285 from 10th January 2020
5[th] July 2024 …………………………………………… ….………………… Keith Lightfoot - Chairman Date
5[th] July 2024
…………………………………………… ….………………… Thomas Alexander Knell - Treasurer Date
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Date: 05 July 2024