Charity number: 1188117
THE HANDLEBARDS CIO
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

THE HANDLEBARDS CIO
CONTENTS
Page
Reference and administrative details of the Charity. its Trustees and advisers
Trustees. report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial statements
8-19

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 annu81 report together with the financi81 statements of the Charity for the year ending
31 March 2023.
Objectives and activities
a. Polieies and objectives
The Charity's objectives are lo promote, maintain, improve and 8dv8nce education and appreciation of the arts,
in p8rb'cu18r bul 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 guidanee 'Public benefit." running a
charity IPB21'
Achievements and performance
a. Main achievements of the Charity
This year the eomp8ny took Shakespeare's 'Twelfth Night, on lour across the UK. The 8Ctors cycled between
venues, covering over 1,500 miles and perfoming at over 80 venues, reaching over 15,000 audience members.
We also received Arts Council England funding in partnership with Heeley Trust and Heeley Primary Care
Network to continue delivering a programme of socially prescribed workshops and cultuml events in Heeley,
Sheffield. This involved a free to attend half term club and confidence building workshops for women.
Supporters and followers of the company continued to generously donate lo support our work.
Future plans for 2023124 are to continue touring with "A Midsummer Night's Dream"
Financial review
a. Going coneem
After making 8ppropriale enquiries, the Trustees have a reasonable expectation that the Charity has adequate
resources lo continue in operational existence for the foreseeable future. For this reason, they continue lo adopt
the going concem basis in preparing the financial statements.
b. Reserves policy
The charity was sel up was when the covid ￿lated national lockdown began therefore our work was limited in
our first few years. We are still in the process of 8ccumulaling reserves and will be able to formulate a reserve
policy in the next financi81 year when we will be trading al a more regular level.
c. Financial results
In the Charity's financial results for the current year, it ￿te1Ved donations plus gift aid lot811ing £33,796, as well
as a grant ineome of £55,815. Total income was £288,737 and expènditure during the period was £115,472,
leaving a surplus of £173,265 and £203,129 carried forward in funds.
Page 2

THE HANDLEBARDS CIO
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Structure, govemance and management
a. Constitution
The Handlebards CIO is a registered charity, number 1188117, and is constituted under a CIO Foundation
constitution. It has been ￿gIStered with the Charity Commission since 21 February 2020.
b. Methods of appointment or election of Trustees
The man8gemenl of the Ch8rily 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 Trustèes, report and the financial statements in accordance with
applicable law and United li'ngdom Accounting Standards Iunited Kingdom Generally Accepted Accounting
Practice).
The law applicable to ch8rilies in England & Wales requires the Trustees lo prepare financial statements for
each financial which give a true and fair view of the stale 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 finanei81
statements, the Trustees are required to".
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP IFRS 1021",
make judgments and accounting estimates that are reasonable and prudent",
stale whether applicable UK Accounting Stsndards IFRS 1021 have been followed, subject lo 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 lo show and explain
the Charity's transactions and disclose with reasonable accuracy al any lime 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
10 April 2024 and signed on their behalf by..
Trustees
on
Kathryn Jones
Harry Bresslaw
Page 3

THE HANDLEBARDS CIO
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Independent Examiner's Report to the Trustees of The Handlebards CIO {'the Charity'l
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March
2023.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 I'lhe 2011 ACYI.
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 14515llbl of the 2011 Act.
Independent Examiner's Statement
Since the Charity's gross income ex￿eded £250,000 your examiner musl be a member of a body listed in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member
of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting
and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Statement of Recommended Practice
issued on 1 April 2005 which is referred lo in the extant regulations bul has been withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in accordance with
the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January
2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause lo believe that in any material respect..
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act,. or
the accounts do not accord with those records", or
the accounts do not comply with the applicable requirements con￿MIng the form and content of
accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fairf 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 lo enable a proper understanding of the accounts lo be
reached.
This report is made solely to the Charity's Trustees, as a body, in aecordance with Part 4 of the Charities
IAecounts and Reports) Regulations 2008. My work has been undertaken so that I might stale lo the Charity's
Trustees those matters l am required to state to them in an independent examiner's report and for no other
purpose. To the fullest exlenl permitted by 18w, I do not accept or assume responsibility to anyone other than
the Charity and the Charity's Trustees as a body, for my work or for this report.
Page 4

THE HANDLEBARDS CIO
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Signed..
Dated.. 21 May 2024
Andrew Thomas
ACA
Nyman Libson Paul LLP
124 Finchley Road
London
NW3 5JS
Page 5

THE HANDLEBARDS CIO
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
Restricted
funds
2023
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Charitable activities
Other income
55,815
33,796
199,104
22
89,611
199,104
22
16,689
Total income
55,815
232,922
288,737
16,698
Expenditure on:
Charitable activities
55,815
59,657
115,472
9,963
Total expenditure
55,815
59,657
115,472
9,963
Net movement in funds
173,265
173,265
6,735
Reconciliation of funds:
Totsl funds brought forward
Nel movement in funds
29,864
173,265
29,864
173,265
23,129
6,735
Total funds carried forward
203,129
203,129
29,864
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 10 19 form part of these financial statements.
Page 6

THE HANDLEBARDS CIO
BALANCE SHEET
AS AT 31 MARCH 2023
2023
2022
Note
Fixed assets
Intangible assets
Investments
10
11
2,143
2,974
2,144
2,975
Current assets
Debtors
Cash al bank and in hand
12
180,889
45,746
3,393
27,278
226,635
30,671
Creditors.. amounts falling due within one
year
13
125,6501
13,7821
Net current assets
200,985
26,889
Total net assets
203,129
29,864
Charity funds
Reslricled funds
14
Unrestricted funds
14
203,129
29,864
Total funds
203,129
29,864
The financial statements were approved and authorised for issue by the Trustees on
10 April 2024
and signed on their behalf by..
Kathryn Jones
Harry Bresslaw
The notes on pages 8 10 19 form part of these financial statements.
Page 7

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
General information
The Handlebards CIO is a Charitable Incorporated Organisation, registered in England and Wales with
the Charity Commission. The address of ils registered office is 9 St Lukes Drive, Orrell, Wigan, WN5
7AU.
Accounting policies
2.1 Basis of preparation of financial ststements
The financial statements have been prepared in accordan￿ with the Charities SORP IFRS 1021-
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 IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fairf view and have departed from
the Charities (Accounts and Reportsl RegLJlalions 2008 only lo the extent required to provide a 'true
and fairf view. This departure has involved following the Charities SORP IFRS 1021 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 PLJblic benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless olhenNise staled 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 con￿rn basis in preparing the financial statements.
2.3 Income
All income is recognised once the Charity has entillemenl lo 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 lo transfer economic
benefit lo 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.
Expenditure on charitable aclivib.es is incurred on dIreC￿Y undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
Page 8

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies Icontinuedl
2.5 Intangible assets and amortisation
Intangible assets are capilalised 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.
Amortisalion is provided on intangible assets al rates calculated lo write off the cost of each asset on
a straighl-line basis over its expected useful life.
Amortisation is provided on the following basis..
Website development
25 Q/0
2.6 Debtors
Trade and other debtors are recognised at the selllemenl amount after any trade discount offered.
Prepayments are valued al 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 dale of acquisition or opening of the deposit or similar
account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation al the balance sheet dale as a result of a past
event, il is probable that a transfer of economic benefit will be required in selllemenl, 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
inslrumenls. Basic financial instruments are initially recognised at transaction value and
subsequently measured al their settlement value with the exception of bank loans which are
subsequently measured al amortised cost using the effective interest method.
2.10 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Charity lo the fund in respect of the year.
Page 9

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies Icontinuedl
2.11 Fund accounting
General funds are unrestricted funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Restricted fvnds are funds which are lo 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 lo the financial statements.
Income from donations and legacies
Restricted Unreslricled
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Donations
Grants
33,796
33,796
55,815
7,633
9,056
55,815
55,815
33,796
89,611
16,689
Totsl 2022
8,100
8,589
16,689
Income from charitablg activities
Unreslricled
funds
2023
Total
Jnds
2023
Total
funds
2022
Theatrical productions
199,104
199,104
Page 10

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
other incoming resources
Unreslricled
funds
2023
Total
funds
2023
Total
funds
2022
Bank interest received
22
22
Page11

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Analysis of expenditure by activities
Activities
undertaken
directly
2023
Support
costs
2023
Total
funds
2023
Total
funds
2022
Charitsble expenditure
63,434
52,038
115,472
9,963
Total 2022
7,332
2,631
9,963
Anatysi$ of direct costs
Tot81
funds
2023
Total
funds
2022
Outreach programme
Thriving Community programme
Twelth Night
Romeo & Juliet
300
18,939
33,333
10,862
2,520
4,812
63,434
7,332
Page 12

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Analysis of expenditure by activities Icontinuedl
Analysis of support costs
Total
funds
2023
Total
funds
2022
Staff costs
AmortlS8tion
37,363
831
347
Bank charges
Accountancy fees
Computer costs
Subscriptions
Travel and subsistence
Consulting
Insuran
Bad debts
Sundry expense5
34
2,400
907
250
1,500
116
500
3,145
6,300
308
52,038
2,631
Independent examiner's remuneration
The independent examiner's remuneration amounts lo an independent examiner fee of £900 P022 - £ -),
and accountancy fee of £1,50012022 - £1,500>.
Staff costs
2023
2022
Wages and salaries
Social security costs
Contribution lo defined contribubon pension schemes
36,400
277
686
37,363
Page 13

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
staff costs {continued)
The average number of persons employed by the Charity during the year was as follows..
2023
No.
2022
No.
Employees
No employee re￿iVed remuneration amounting to more than £60,000 in either year.
Key management personnel
Totsl remuneration paid to key management was £37,363.
Page 14

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Trustees. remuneration and expenses
During the year, no Trustees re￿iVed any remuneration or other benefits.
During the year ended 31 March 2023, no expenses were reimbursed or paid direcuy to Trustees.
10. Intangible assets
Website
development
Cost
At 1 April 2022
3,321
At 31 March 2023
3,321
Amortlsatlon
At 1 April 2022
Charge for the year
347
831
At 31 March 2023
1,178
Net book value
At 31 March 2023
2,143
At 31 March 2022
2,974
11.
Flxed asset Investments
Investments
in subsidiary
companies
Cost or valuation
At 1 April 2022
At 31 March 2023
The investment represents the book value of 1000A of the share capital of the company Cycling
Shakespeare Limited, wIste￿d on Companies House with number 12516789.
Page 15

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
12. Debtors
2023
2022
Due within one year
Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income
3,950
175,000
1,939
3,393
180,889
3,393
13. Creditors: Amounts falling due within one year
2023
2022
Other laxalion and social security
Pension fund loan payable
Other creditors
Accruals and deferred income
3,003
146
22,500
3,781
25,650
3,782
Page 16

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
14. Statement of funds
statement of funds - current year
Balan￿ at
31 March
2023
Balance al 1
April 2022
Income Expenditure
Unrestricted funds
General Funds - all funds
29,864
232,922
159,6571
203,129
Restrlcted funds
Thriving Community Programme
55,815
155,8151
Total of funds
29,864
288,737
1115,4721
203,129
The Thriving Community Programme ￿lateS 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 creab've workshops and cultural community events in Heeley.
Statement of funds - prior year
Balan￿ at
31 March
2022
Balance at
1 April 2021
Income Expenditure
Unrestricted funds
General Funds - all funds
23,129
8,598
11,8631
29,864
Restricted funds
Thriving Community Programme
8,100
18,1001
Total of funds
23,129
16,698
19,9631
29,864
Page 17

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
15.
Analysis of net assets between funds
Analysis of net assets between funds - current year
Unreslricled
funds
2023
Total
funds
2023
Intangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
2,143
2,143
226,63S
{25,6501
226,635
125,6501
Totsl
203,129
203,129
Anatysis of net assets between funds - prior year
Unrestricted
funds
2022
Total
funds
2022
Intangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
2,974
2,974
30,671
13,7821
30,671
13,7821
Total
29,864
29,864
16.
Pension commitments
The charity operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the group in an independently administered fund. The pension cost charge
represents contributions payable by the group lo the fund and amounted to £686. £146 was payable lo
the fund al the reporting date and are included in creditors.
17. Related party transactions
During the year, the CIO provided a loan of £175,000 lo ils subsidiary company, which is outstanding as
at the reporting date. There is no interest accruing on this balan￿.
Page 18

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
18.
Principal subsidiaries
The following was a subsidiary undertaking of the Charity..
Name
Company
number
Registered office or principal Principal activity
place of business
Cycling Shakespeare Limited
12516789
Same as parent
Trading subsidiary
{Theatrical
produclionsl
Class of
shares
Holding
Included in
consolidation
Ordinary
The financial results of the subsidiary for the year were..
Name
Income
Expenditure
Net assets
Cycling Shakespeare Limited
27,954
173,415
{145,4601
Page 19