**Charity number: 1188117**
## **THE HANDLEBARDS CIO**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2022**
## **THE HANDLEBARDS CIO**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 3|
|**Statement of financial activities**|4|
|**Balance sheet**|5|
|**Notes to the financial statements**|6 - 13|
## **THE HANDLEBARDS CIO**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022**
**Trustees** Kathryn Jones, Trustee Harry Bresslaw, Trustee Hilary Wynter, Trustee
**Charity registered number** 1188117 **Principal office** 9 St. Lukes Drive Orrell Wigan WN5 7AU
## **Accountants**
Nyman Libson Paul LLP 124 Finchley Road London NW3 5JS
Page 1
## **THE HANDLEBARDS CIO**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022**
The Trustees present their annual report together with the financial statements of the The Handlebards CIO for the year ending 31 March 2022.
## **Objectives and activities**
## **a. Policies and objectives**
The Charity's objectives are to promote, maintain, improve and advance education and appreciation of the arts, in particular but not exclusively, the performing arts of theatre, drama and music.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Achievements and performance**
## **a. Main achievements of the Charity**
In January 2021 we received Arts Council England funding to run an online workshop series to bring arts and culture into peoples homes through live zoom workshops and pre recorded shows. This work continued into April and May 2021, with masterclasses from directors and table reading of plays.
In partnership with Heeley Trust and Heeley Primary Care Network we successfully applied for the Thriving Communities Fund from Arts Council England and the National Academy for Social Prescribing. The funding allowed us to host socially prescribed creative workshops and cultural community events in Heeley as lockdown eased.
Supporters and followers of the company continued to generously donate to support our work.
We are happy with the work we achieved through a difficult year and expect to be hosting more performance, creative workshops and live theatrical events in 2022.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **b. Reserves policy**
The charity was set up was when the covid related national lockdown began therefore our work was limited in our first few years. We are still in the process of accumulating reserves and will be able to formulate a reserve policy in the next financial year when we will be trading at a more regular level.
## **c. Financial results**
In the Charity's financial results for the current year, it received donations plus gift aid totalling £7,633, as well as a grant income of £9,056. Total income was £16,698 and expenditure during the period was £9,963, leaving a surplus of £6,735 and £29,864 carried forward in funds.
Page 2
## **THE HANDLEBARDS CIO**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **Structure, governance and management**
## **a. Constitution**
The Handlebards CIO is a registered charity, number 1188117, and is constituted under a CIO Foundation constitution. It has been registered with the Charity Commission since 21 February 2020.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and under the terms of the constitution.
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial eriod which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 5 December 2022 and signed on their behalf by:
**Kathryn Jones** (Trustee)
**Harry Bresslaw** (Trustee)
Page 3
## **THE HANDLEBARDS CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|Note
**Income from:**
Donations and legacies
3
Other income
4
**Total income**
**Expenditure on:**
Charitable activities
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|Restricted
funds
2022
£
8,100
-
8,100
8,100
8,100
-
-
-
-|Unrestricted
funds
2022
£
8,589
9
8,598
1,863
1,863
6,735
23,129
6,735
29,864|Total
funds
2022
£
16,689
9
16,698
9,963
9,963
6,735
23,129
6,735
29,864|Total
funds
2021
£
23,628
2|
|---|---|---|---|---|
|||||23,630|
|||||501|
|||||501|
|||||23,129|
|||||-
23,129|
|||||23,129|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 6 to 13 form part of these financial statements.
Page 4
## **THE HANDLEBARDS CIO**
## **BALANCE SHEET AS AT 31 MARCH 2022**
|Note
**Fixed assets**
Intangible assets
7
Investments
8
**Current assets**
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one
year
10
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
11
Unrestricted funds
11
**Total funds**|3,393
27,278
30,671
(3,782)|2022
£
2,974
1
2,975
26,889
29,864
-
29,864
29,864|2,678
20,951
23,629
(501)|2021
£
-
1|
|---|---|---|---|---|
|||||1
23,128|
||||||
|||||23,129|
|||||-
23,129|
||||||
|||||23,129|
The financial statements were approved and authorised for issue by the Trustees on 05 December 2022 and signed on their behalf by:
**Kathryn Jones** (Trustee)
**Harry Bresslaw** (Trustee)
The notes on pages 6 to 13 form part of these financial statements.
Page 5
## **THE HANDLEBARDS CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. General information**
The Handlebards CIO is a Charitable Incorporated Organisation, registered in England and Wales with the Charity Commission. The address of its registered office is 9 St Lukes Drive, Orrell, Wigan, WN5 7AU.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Handlebards CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants and donations are included in the statement of financial activities on a receivable basis.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Page 6
## **THE HANDLEBARDS CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **2. Accounting policies (continued)**
## **2.5 Intangible assets and amortisation**
Intangible assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
The estimated useful lives are as follows:
Amortisation is provided on the following basis:
Website development - 25 %
## **2.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.7 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.8 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
## **2.9 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.10 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 7
## **THE HANDLEBARDS CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **3. Income from donations and legacies**
|Donations
Grants
Total 2021|Restricted
funds
2022
£
-
8,100
8,100
-|Unrestricted
funds
2022
£
7,633
956
8,589
23,628|Total
funds
2022
£
7,633
9,056
16,689
23,628|Total
funds
2021
£
15,024
8,604|
|---|---|---|---|---|
|||||23,628|
||||||
## **4. Other incoming resources**
||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2022|2022|2021|
||£|£|£|
|Bank interest received|9|9|2|
Page 8
## **THE HANDLEBARDS CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **5. Analysis of expenditure by activities**
|Charitable expenditure
Total 2021
**Analysis of direct costs**
Outreach programme
Thriving Community programme
**Analysis of support costs**|Activities
undertaken
directly
2022
£
7,332
-|Support
costs
2022
£
2,631
501|Total
funds
2022
£
9,963
501
Total
funds
2022
£
2,520
4,812
7,332|Total
funds
2021
£
501|
|---|---|---|---|---|
|||||Total
funds
2021
£
-
-|
|||||-|
||||||
|Amortisation
Bank charges
Accountancy fees
Subscriptions
Travel and subsistence|Total
funds
2022
£
347
5
1,500
116
663
2,631|Total
funds
2021
£
-
1
500
-
-|
|---|---|---|
|||501|
Page 9
## **THE HANDLEBARDS CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **6. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits.
During the year ended 31 March 2022, expenses totalling £98 were reimbursed or paid directly to 1 Trustee.
## **7. Intangible assets**
|**Cost**
Additions
At 31 March 2022
**Amortisation**
Charge for the year
At 31 March 2022
**Net book value**
At 31 March 2022
At 31 March 2021
**8.**
**Fixed asset investments**
**Cost or valuation**
At 1 April 2021
At 31 March 2022|Website
development
£
3,321|
|---|---|
||3,321|
||347|
||347|
||2,974|
||-|
||Investments
in subsidiary
companies
£
1|
||1|
The investment represents the book value of 100% of the share capital of the company Cycling Shakespeare Limited, registered on Companies House with number 12516789.
Page 10
## **THE HANDLEBARDS CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **9. Debtors**
|**Due within one year**
Prepayments and accrued income|2022
£
3,393
3,393|2021
£
2,678|
|---|---|---|
||||
|||2,678|
## **10. Creditors: Amounts falling due within one year**
|Other creditors
Accruals and deferred income|2022
£
1
3,781
3,782|2021
£
1
500|
|---|---|---|
||||
|||501|
Page 11
**THE HANDLEBARDS CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **11. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Thriving Community Programme
**Total of funds**|Balance at 1
April 2021
£
23,129
-
23,129|Income
£
8,598
8,100
16,698|Expenditure
£
(1,863)
(8,100)
(9,963)|Balance at
31 March
2022
£
29,864|
|---|---|---|---|---|
|||||-|
|||||29,864|
The Thriving Community Programme relates to grants received from The Heeley Trust for the Thriving Communities Fund from Arts Council England and the National Academy for Social Prescribing. The funding was spent on socially prescribed creative workshops and cultural community events in Heeley.
## **Statement of funds - prior year**
||||Balance at|
|---|---|---|---|
||||31 March|
||Income|Expenditure|2021|
||£|£|£|
|**Unrestricted funds**||||
|General Funds - all funds|23,630|(501)|23,129|
Page 12
## **THE HANDLEBARDS CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **12. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|Intangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Total**|Unrestricted
funds
2022
£
2,974
1
30,671
(3,782)
29,864|Total
funds
2022
£
2,974
1
30,671
(3,782)
29,864|
|---|---|---|
## **Analysis of net assets between funds - prior year**
|Fixed asset investments
Current assets
Creditors due within one year
**Total**|Unrestricted
funds
2021
£
1
23,629
(501)
23,129|Total
funds
2021
£
1
23,629
(501)
23,129|
|---|---|---|
Page 13