**Trustees’ Annual Report and Financial Statements for the Year Ended 31 August 2022** ## **Cyclox** Charitable Incorporated Organisation (CIO) number 1190137 1 **CYCLOX** ## **Contents** |Reference and Administrative Details|3| |---|---| |Trustees’ Report|4| |Statement of compliance|4| |Structure, Governance and Management|4| |Trustees’ Responsibilities|4| |Objectives and Activities|5| |Executive summary|5| |Progress and achievements|6| |a)
Our strategy|6| |b)
Vision Zero|6| |c)
Sanctuary Wheels|8| |d)
Dr Bike sessions|9| |f)
Speaker events|10| |g)
Consultations|11| |h)
Coalition for Healthy Streets and Active Travel|12| |i)
Communications|12| |j)
Membership|12| |Plans for 2023|13| |Financial Report to the Board of Trustees|17| |Statement of Financial Activities|18| |Balance Sheet|19| |Notes to the Financial Statements|20| 2 Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 **CYCLOX** ## **Reference and Administrative Details** |Charity name|Cyclox|| |---|---|---| |Charity registration number|1190137|| |Registration as a Charitable Incorporated|24thJune 2020|| |Organisation||| |Registered address|12 Apsley Road|| ||Oxford|| ||OX2 7QY|| ||Website:www.cyclox.org|| ||Email:contact@cyclox.org|| ||Phone: 07931769484|| |Trustees||| ||Jake Backus|Elise Benjamin| ||Ian Callaghan|Alison Chivers| ||Andy Chivers|James Dawton| ||Jonny Ives|Kathryn McNicoll| ||Ben Sawyer|Steve Unwin| ||Sara Hallas, Simon Hunt|and Lonie Sebagh resigned| ||16thNovember 2021|| |Honorary secretary|Kathryn McNicoll|| |Coordinator|Becci Curtis|| |Bankers|From August 2020|| ||Unity Trust Bank PLC|| ||4 Brindley Place|| ||Birmingham|| ||B1 2JB|| 3 Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 **CYCLOX** ## **Trustees’ Report** The Trustees submit their annual report and financial statements for the year ended 31[st] August 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 20. The Charity is a Charitable Incorporated Organisation (CIO): number 1190137. ## **Statement of compliance** This report complies with the requirements of the Charity’s constitution (based on the ‘association’ model CIO constitution authorised by the Charity Commission), which is the Charity’s governing document. ## **Structure, Governance and Management** The Charity was established on 24[th] June 2020 and assumed the assets and liabilities of the unincorporated organisation that preceded it. The Charity is governed by a constitution that sets out the powers and responsibilities of the Trustees in fulfilling the Charity’s objectives. The Trustees when complete consist of at least five and not more than fifteen individuals. At every annual general meeting of the members of the CIO, one-third of the elected charity trustees shall retire from office. The terms of office of all trustees commenced at our first AGM held on 17[th] November 2020. New Trustees spend time with the existing Trustees to ensure they understand their responsibilities and the legal and financial framework in which the Charity operates. For reference, all Trustees are issued with the Charity Commission’s publication ‘The Essential Trustee: What you need to know’. The Trustees have reviewed the major risks relating to the operation of the Charity, and systems and procedures have been established and implemented to manage those risks. Becci Curtis, Cyclox coordinator, started in July 2019 as a self-employed contractor and – since May 2022 – has increased her working days from one to two days a week. She does invaluable work supporting Cyclox with our communications, engagement with stakeholders, project management, and provides support for public meetings. ## **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). Law applicable to Charities in England & Wales requires the Trustees to prepare financial statements for each financial period, which give a true and fair view of the Charity’s financial activities during the period, and of its financial position at the end of the period. In preparing these financial statements, the Trustees are required to: 4 Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 **CYCLOX** - Select suitable accounting policies and then apply them consistently - Observe the methods and principles in the Charities Statement of Recommended Practice (SORP) - Make judgements and estimates that are reasonable and prudent - State whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements - Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in operation The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy the financial position of the Charity and which enable them to ensure that the financial statements comply with 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. ## **Objectives and Activities** To promote cycling for the public benefit in and around Oxford as a means of furthering the following purposes: - (i) The advancement of education - (ii) The promotion of public health - (iii) The promotion of public safety particularly on the highways - (iv) The advancement of environment protection and the prevention and mitigation of climate change by whatever means the trustees think fit, including advocating and campaigning on all matters relating to cycling and other forms of transport, and encouraging and enabling members of the public, irrespective of their age, ability, gender, race, or social or economic circumstances, to cycle, through the provision of cycling facilities, services, training, educational activities and public meeting. Our mission is to get more people in and around Oxford cycling, more often, and more safely. ## **Executive summary** Cyclox was founded in 2003 and became registered Charitable Incorporated Organisation in June 2020. This is our second full year operating as a Charity; the Trustees approved their first annual report and financial statement for 24[th] June 2020 to 31[st] August 2021. Our work over the period covered by the first annual report was impacted by the pandemic and our response to recurrent lockdowns. This year has also proven tumultuous and our work over the period covered by this second annual report was impacted for two major reasons. Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 5 **CYCLOX** Firstly, within the year September 2021 to August 2022, three young women died while cycling in Oxford: all three were killed at junctions in collisions with heavy goods vehicles. These fatalities prompted us to revise our annual planned activities to call on Oxfordshire County Council to adopt Vision Zero; this has since become a major campaign and will be central to our activities for the next few years (see section b). Secondly, the refugee crises following the fall of Afghanistan’s capital city, Kabul, and the Ukrainian war, prompted us to set-up the Sanctuary Wheels project with Active Oxfordshire (see section c). Despite the challenges and tragedies this year has brought with it, we have achieved demonstrable progress. Advocating for world class cycling infrastructure in Oxford has been one of our longstanding strategic objectives and we have been working hard to influence schemes early in their development and develop methods of co-production. Over the past year, our comments, advice, and expertise has been sought out. We have been invited to work with the county council and have been asked to join working groups. This is a notable change, and it is a change in the right direction. Our mission to ‘get more people cycling, more often, and more safely’ stands firm. We don’t want people to give up cycling because they feel fearful, and we don’t want people to give up (or rule out) cycling because they don’t have access to a bike or support. We know that cycling is good for our health, it eases congestion, and it helps improve air quality, makes for a better economy, and reduces social inequality. _Note: this report includes some activities that took place in September 2022 where it seemed logical to do so._ ## **Progress and achievements** ## **a) Our strategy** We reviewed our strategic objectives and 3-year plan in January 2022. We updated our vision to place increased importance on the perception that cycling is a safe activity: _Oxford is a world class cycling city, where everyone can choose to cycle_ _**and feels safe to do so.**_ (‘…feels safe to do so’ replaced ‘…where cycling is a normal form of transport’) This update was tragically apposite considering the cycling fatalities that took place in the months that followed. Our ambition over the next three years 2022–25 is: - Supporting and encouraging more people of all ages, abilities and backgrounds to cycle - Advocating for world cycling infrastructure in Oxford - Making Cyclox a household name in Oxford We will develop ways to evaluate our work and measure our impact. ## **b) Vision Zero** Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 6 **CYCLOX** Since becoming a registered Charity in June 2020, four women have been killed while riding their bikes in Oxford: all in collision with heavy goods vehicles at junctions. Three of these women were killed in the 12-months covered by this Trustees’ report. 26[th] September 2021: Jenny Wong was killed in collision with a crane on at the London Road/Headley Way junction. 8[th] February 2022: Ellen Moilanen was killed in collision with an aggregates lorry at the A4165/Oxford Parkway junction. 1[st] March 2022: Ling Felce was killed in collision with a DAF truck at The Plain roundabout driven by Robert Whiting. Whiting was unqualified, uninsured, under the influence of drugs, and had been previously banned from driving and convicted of other driving offences. In September, he was sentenced to eight years in prison and banned from driving for nine years. These three deaths follow Samantha Blackborow who was killed in collision with a bin lorry as its driver turned left at a junction on Horspath Driftway in Nov 2020. These fatalities prompted us to revise our annual planned activities in order to put pressure on Oxfordshire County Council to adopt Vision Zero (the elimination of traffic fatalities and serious injuries). On the 21[st of] February (13 days after Ellen Moilanen’s death), our Trustees and infrastructure group volunteers hand-delivered a letter signed by 173 people to the Director of Environment and Place at Oxfordshire County Council (OCC), offering suggestions for immediate and long-term improvements for people cycling and walking on the A4165 and Oxford Parkway. Progress followed rapidly during the three months that followed: - **2[nd] March** (the day after Ling Felce’s death): our Chair was invited to meet with Oxfordshire County Council's Cycling Champion, Cllr Andrew Gant, and Oxford City Council's Champion for Active Travel and Cycling, Jemima Hunt. - **4[th] March** : our Chair was invited to meet with local MP Anneliese Dodds. - **10[th] March** : The Leader of OCC, Cllr Liz Leffman, announces ‘aspiration’ to adopt Vision Zero alongside promise to work alongside Cyclox. - **16[th] March** : our first meeting with OCC’s Director of Environment and Place (Bill Cotton) to discuss immediate actions to make the A4165 safer for people cycling and walking. - **22[nd] March:** second meeting with Bill Cotton to discuss immediate changes to The Plain Roundabout. - **24[th] March** : Graham Smith, a member of our infrastructure group, was admitted as a witness in Jennifer Wong’s pre-inquest with the aim of encouraging the coroner to make a report to Oxfordshire County Council on the prevention of road (Highways Safety) related deaths. - **5[th] April:** OCC Cabinet Member for Travel and Development Strategy, Cllr Duncan Enright, announces Vision Zero as ‘an absolute iron commitment’ at a full County Council meeting. - **14[th] April:** third meeting with Bill Cotton to raise concerns about the delivery speed of road safety improvements. - **10[th] May:** invited to attend the first Road Safety Summit hosted by the Police & Crime Commissioner for Thames Valley, Matthew Barber. The agenda for the day: ‘Towards Vision Zero’. - **12[th] May** : the County Council forms a cycle safety working group with Cyclox. Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 **CYCLOX** - **22[nd] June:** Oxfordshire County Council announced an official commitment to Vision Zero setting ‘interim targets of a 25 per cent cut in casualties by 2026 and a 50 per cent reduction by 2030 before aiming to reach zero by 2050’ and a £250,000 budget to deliver prioritised initiatives. _‘I am constantly impressed by the hard work and dedication of cycling advocacy groups across the county. They represent a wealth of talent and expertise that is impossible to ignore, and we are extraordinarily lucky to have. I know that, in particular, Cyclox, is keen for the county to put the Vision Zero policy at the front and centre of our Local Transport and Connectivity Plan.’_ - _**Cllr Liz Leffman, Leader of Oxfordshire County Council, 10[th] March 2022**_ The Local Transport and Connectivity Plan was approved by the County Council in July and now includes Vision Zero as a policy. We want to continue working with the County Council, to hold them to account for delivering on their target to eliminate road traffic deaths in Oxford by 2050. Vision Zero is now a major campaign for us and will be central to our activities over the next few years. Since March, we have fundraised approx. £11,000. We have hired someone short term to develop our Vision Zero strategy, and a freelance Campaign Manager, to progress this work into 2023 and beyond. ## **c) Sanctuary Wheels** The Sanctuary Wheels project built on the success of the Bikes for Key Workers (2020-21) project and is testament to the generosity of Oxfordshire’s cycling community and the ongoing support of our brilliant partners and volunteers. Launching in February 2022, the project was set-up alongside Active Oxfordshire and Asylum Welcome to provide bikes, lights, locks, helmets and translated tuition so that refugees could benefit from being able to get around independently, access essential services, and get to know their new communities. Sanctuary Wheels initially focused on providing bikes to young unaccompanied refugees arriving in Oxford City. As war started in Ukraine, it quickly became clear that the scope of the project would need expanding. Mark Beard, High Sheriff of Oxfordshire donated £2,000 donated to get Sanctuary Wheels off the ground and more than £10,000 was raised through generous public donations. Many individuals fundraised by undertaking cycling challenges: - The former Chief Executive of Active Oxfordshire, Paul Brivio, cycled 192 miles and raised £1,430. - Cycling UK Trustee and Secretary of Cycling UK Oxfordshire, Robin Tucker, cycled from Oxford to Paris and back, and raised £802. - The Bike Oxford Sanctuary Wheels team raised more than £1,800. Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 8 **CYCLOX** To date, we have provided approximately 300 bikes (plus lights, locks and helmets) to Ukrainian refugees and 60 bikes to refugees from other parts of the world including: Eritreans, Afghanis, Syrian Kurds, and Pakistanis. The Windrush Bike Project (Witney), Farcycles (Faringdon) and Asylum Welcome have also handed out more than 100 bikes to refugees. _‘Cyclox has been a fantastic support and resource. First, they were able to provide a bicycle and helmet the right size for Y. He started by pedalling enthusiastically up and down the narrow lane outside the house – now he cycles to meet his friends. Riding a bicycle gets Y out of the house and it is great – and enjoyable – exercise. It gives him choices about what to do, where to go and when. V is now keen to have a go at riding a bike herself.’_ ## _**Refugee host family, August 2022**_ This project would not have succeeded without the steadfast determination and enthusiasm of our Trustee and Honorary Secretary, Kathryn McNicoll, together with her husband James, and the expert help of mechanic Colin Scott. We must also thank Oxfordshire Fire and Rescue Service who coordinated bike donation days at fire stations across Oxford. Active Oxfordshire have now funded Asylum Welcome to find storage for donated bikes and we will hand the project over to them at the end of this month to continue this important work. ## **d) Dr Bike sessions** We weren’t successful in obtaining funding from Cycling UK to run Dr Bike (free bike maintenance) sessions this year, however, using funds remaining from 2021, we ran at total of five sessions at local events, four of them in conjunction with a Cyclox stall. Qualified mechanics safety checked and repaired more than 80 bikes in 30-min pre-booked and walkin slots. We ran sessions at: - A lively Headington Festival in May - A very hot Fun Day at West Oxford Community Centre in July - Rose Hill Community Centre’s repair café in August - A crowded Canal Festival (Jericho) in September - Barton Neighbourhood Centre’s annual Barton Bash in September For some of these events, we took a ‘bubble bike’ along, which generated a lot of fun and interest. 9 Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 **CYCLOX** We have received many invitations to run these sessions at various local unfunded events. These sessions are incredibly important to connect with local communities and get more people cycling, but they do come at a cost and take the skill of paid mechanics and many hours of volunteers’ time to run effectively. We have decided to limit these sessions to five per year. ## **e) Kidical Mass** In June we held Oxford’s first ‘Kidical Mass’ as part of Bike Week (16[th] -12[th] June). Three led rides started out from Florence Park in Cowley, the North Way underpass in Barton, and St. Philip and James School in North Oxford, picking up more people along the way. The rides congregated in Radcliffe Square before a tour of the city centre that concluded with a picnic lunch on Oxpens meadows, before heading to join the Broken Spoke Bike Co-Op at their 10[th] anniversary party in Osney Lane. The event was recorded by the Leach family: you can watch it on YouTube. So many volunteers succeeded in making this such a memorable event. In particular we want to thank Cyclox Trustee, Ian Callaghan, and Cyclox members; Owen McKnight and Annette Pattinson. We are looking forward to running ‘Kidical Mass’ again. ## **f) Speaker events** We have run seven very well-attended and free online events this year, alongside one in-person ‘get to know Cyclox’ social. Our guest speakers have engaged over 450 online participants on a wide range of topics: ## **2021** - Neil Guthrie (designer of the Gold Standard Cycle Map for Central London) and Martin Lucas Smith (webmaster and manager of Cycle.Streets) talked about mapping as a force for change in September. - Chris Goodall (climate change expert and author) joined us in October to talk about Oxford’s sustainable future. - County Councillors, Duncan Enright (Cabinet Member for Travel & Development Strategy), Tim Bearder (Cabinet Member for Highway Management) and Pete Sudbury (Cabinet Member for Climate Change Delivery & Environment) presented their vision for the future of transport in Oxfordshire at our AGM in November. ## **2022** Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 10 **CYCLOX** - In January, local resident, Iraj Maghounaki, inspired us with his account of cycling over 4,000 miles from Oxford to the capital of Iran and raising over £12,500 for Oxfordshire Mind in the process. - In February, Tom Scholes, an Oxfordshire County Council officer responsible for dealing with reports from FixMyStreet ran a practical and informative session on how the app works, what things can be report, what happened to the reports when they come in, and why the County Council uses it. - In March, Crispian Poon, Director of the technology company Onsee, talked to about the findings of their Oxford-based ‘near miss’ prevention project they ran with Pedal and Post using their bike-mounted dashcam. - We were joined by Oxfordshire County Council Traffic Signals Department employee, Ben Broughton, who talked to us about ‘the secret life of traffic lights’ in April. Ben answered questions like: ‘how do traffic signals know cyclists are there?’ and ‘how do you decide whether to install filters, advance stop lines, advance cycle signals?’. We will continue to run regular events and develop a ‘best practice’ set of guidelines to help support our volunteers manage events online. Cyclox Trustee, Andy Chivers, has single-handedly secured guest speakers, managed bookings, and conducted most of these meetings over the past year. It is an astonishing amount of work and we thank him. ## **g) Consultations** During the year September 2021 to August 2022 our Infrastructure Group has been very active. Our team of 12 volunteers –– experts in cycling infrastructure, street architecture and urban design –– spent over 300 hours of their time responding to consultations issued by Oxfordshire County Council Highways Authority, City Council planning applications, residential and commercial development proposals, and proposals on local and national policy. We meet alternate weeks to review the latest consultations and infrastructure proposals. Each response is led by a member of the team. Where feasible and necessary, our active travel partners (such as, the Coalition for Healthy Streets and Active Travel, Cycling UK local representatives, Oxford Civic Society and the Oxfordshire Cycling Network) are consulted. Our preliminary responses are often shared with current members residing, or working, near the proposed site for development or improvement and our responses consider comments we have received from Cyclox members. You can view the list of consultations we have responded to over the past year. The most significant was the Local Transport and Connectivity Plan, which, through our influence, included a chapter on Vision Zero. Our expert contributions have the most impact when we are involved at the early planning stages. We build relationships with decision-makers to influence schemes early in their development and pursue methods of co-production. We were consulted about several schemes at an early stage of development long before the obligatory, statutory consultations. We are delighted when we are approached in this way as our aim is for planners and developers to approach us to help planning for cycle infrastructure at the Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 11 **CYCLOX** start of the process. Most notably we have been closely involved in the early planning of the Bayswater estate development. ## **h) Coalition for Healthy Streets and Active Travel** The Coalition for Healthy Streets and Active Travel (CoHSAT) was set up early in 2019. This is a group of sixteen community organisations working together to improve our streets and increase active travel. Cyclox led the work on 15 Minute Neighbourhoods. CoHSAT’s work on the consultations on the Central Oxfordshire Travel Plan and traffic filters helped shape our response to these key consultations. ## **i) Communications** Over the past year our communications have been focused on engaging current members with the work we do and providing a service to the wider Oxfordshire cycling community (by promoting partnerships and encouraging action on local cycling issues). Anyone can now opt-in to receive our monthly newsletter, event announcements, and volunteer opportunities emails. We have doubled member-only communications this year as a result of our two major campaigns (Vision Zero and Sanctuary Wheels) and significant council consultations. Our aim has been to demystify the consultations process and champion the work of our infrastructure group volunteers, and this work has been carried over to developments on our website. This is something we will continue to develop and improve in 2023. We have continued to contribute to a weekly 600-word ‘On Yer Bike’ column in the _Oxford Mail_ . These articles are published in the paper as a full page spread every Saturday and on our blog. Contributing to the _Oxford Mail_ has not been without its challenges this year and we have made complaints about inflammatory headlines and articles. In April, we met with the Editor-in-Chief, Andrew Colley, to discuss our concerns. We have a good relationship with our regular column editor, Andy Ffrench, who approaches us prior to making any significant changes to the copy we submit. For now, we will continue to use this column to address local cycling issues and to encourage more people of all ages, abilities and backgrounds to cycle. We invite contributions from our active travel partners, local cycling organisations, volunteers, and members. Most of our media coverage this year has centred on cycle safety (changes to the Highway Code and Vision Zero), Sanctuary Wheels, and Low Traffic Neighbourhoods. We have been invited for interview and comment by various local media outlets and platforms such as BBC Radio Oxford, BBC South, ITV Meridian, and Jack FM. In March 2022, Road.cc covered our call for Vision Zero following the death of Ling Felce at The Plain. Their article — “White lines do not work”: Oxford campaigners call for urgent action after cyclist is killed at notorious junction — drew attention to the objections we made to the The Plain redesign in 2013. We have maintained a high level of engagement via our social media pages. We would like to recruit volunteers to help manage these accounts. ## **j) Membership** Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 12 **CYCLOX** Our membership has grown significantly this year. At the end of September 2022, Cyclox membership had increased by 28% in comparison to the previous year; totalling 717 members (157 more members than at the end of September 2021). A large proportion of these new members joined in the weeks following the deaths of Ellen Moilanen and Ling Felce, but we had a steady stream of new members joining us throughout the year. As our membership continues to grow, we decided to phase out standing order renewal payments in favour of online payments. As a result of becoming a charity in 2020, we were required to set-up a new account with Unity Trust Bank. Unfortunately, it was not possible for us to transfer standing order payments from the existing Co-op account. Members renewing by standing order have been notified of this change and will be prompted to renew online 4-weeks before their current membership expires. The new 1-, 3- and 5-year memberships via secure online payment (debit/credit card) continue to be popular and are much more efficient; significantly reducing the administrative work involved in processing renewals. Cyclox will celebrate its 20[th] birthday in 2023 and membership fees have been unchanged for as long as we can remember. We decided to increase membership fees by £2 per year in September 2022. This increase is applicable to new individual and household members, but – given the cost-of-living crisis – we chose to not to apply this increase to our concessionary membership option. A pro-rata increase was applied to our bulk 3- and 5-year membership options. We propose to implement a similar fee increase for renewing members in 2023. The increase in membership numbers will hopefully be followed by more members wanting to be actively involved in campaigning and helping to run Cyclox. We are thankful to our trustee and membership secretary, Steve Unwin, for all his hard work. ## **Plans for 2023** - We are ambitious to increase our influence and our income from membership, sponsorship and donations. - We will be launching our Vision Zero campaign in January 2023. - We will be celebrating our 20[th] anniversary in September 2023 and will be planning some events to mark this milestone in the life of Cyclox. - We intend to offer Dr Bike sessions in communities where there is a lower uptake of cycling. - Our members have expressed a wish for greater involvement in our activities and, depending on their skills, experience, and interests, we intend to involve them as volunteers in consultations, supporting publications, developing more local champions who are the eyes and ears of their local communities. - We will continue to respond to consultations with the aim to influence schemes early in their development. We aim to work with the county council to develop methods of coproduction. Our infrastructure advocacy includes informing our members about upcoming consultations: why they are important and how they can take action. We are planning to launch a regular ‘infrastructure bulletin’ email in 2023. - We will continue to run monthly speaker events. Approved by the Board and signed on its behalf by: 13 Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 **CYCLOX** Alison Hill (Chivers), Trustee Date: 8th November 2022 14 Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 **CYCLOX** ## **Financial Statements for the Year Ended 31 August 2022** ## **Cyclox** Charitable Incorporated Organisation (CIO) number 1190137 15 Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 **CYCLOX** ## **Table of Contents** Financial Report to the Board of Trustees 17 Statement of Financial Activities 18 Balance Sheet 19 Notes to the Financial Statements 20 16 Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 **CYCLOX** ## **Financial Report to the Board of Trustees** I Report to the Board of Trustees on the preparation of the accounts of Cyclox for the Year Ended 31st August 2022. The financial period being 1[st] September 2021 to 31[st] August 2022. I was appointed and instructed to prepare for your approval the financial statements of Cyclox for the year ended 31[st] August 2022 which include the Statement of Financial Activities (SoFA), Balance Sheet (BS) and the related notes from the accounting records and information and explanations given to me. This report has been prepared for the Charity’s Trustees of Cyclox in accordance with my agreement. It is the duty of Cyclox to ensure adequate records are kept. I have not audited the accounts of Cyclox and therefore not tested the accuracy of the accounting records or information given to me, therefore I have not stated any opinion on the accounts. I have completed my examination. I can confirm that no material matters have come to my attention in connection with the 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. Thomas Futter Signature: Date: 9[th] October 2022 17 Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 **CYCLOX** ## **Statement of Financial Activities** Including Income and Expenditure Accounts for the period of 1[st] September 2021 – 31[st] August 2022. Further analysis of Income and expenditure are shown in Sections 12 and 13. 18 Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 **CYCLOX** ## **Balance Sheet** Balance Sheet as at 31[st] August 2022. The Charity Trustees acknowledge their responsibilities for complying with the requirements of the Charities Act 2011 with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with 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 United Kingdom (FRS 102) (Charities SORP FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the UK (FRS 102) and the Charities Act 2011. Approved by the Board on 8[th] November 2022 and signed on its behalf by: Name and Position: Alison Hill (Chivers), Trustee Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 19 **CYCLOX** ## **Notes to the Financial Statements** ## **1. Accounting Policies - Basis of Preparation** These accounts have been prepared in accordance with 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 United Kingdom (FRS 102) (Charities SORP FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the UK (FRS 102) and the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. ## **2. Assessment of going concern** The Trustees have assessed whether the use of going concern assumption is appropriate in preparing these accounts. The Trustees have made this assessment in respect to a period of 1 year from the date of approval of these accounts. The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. ## **3. Fund accounting policy** Unrestricted income funds are generally funds that are available for use at the Trustees’ discretion in furtherance of the objectives of the charity. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. ## **4. Incoming resources** Voluntary income including, gifts, donations, membership subscriptions, sponsorship and grants that provide core funding or are of general nature is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate. Charitable activities income includes sales of goods or services from the charity activities. ## **5. Resources expended** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 20 Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 **CYCLOX** ## **6. Governance costs** Governance costs include costs of the preparation and examination of accounts, the cost of Trustee meetings, subscriptions to professional bodies and the cost of any legal advice to Trustees on governance and constitutional matters. ## **7. Fixed Assets** At the end of 31[st] August 2022 there were no Tangible Assets in the charity. ## **8. Inventory** Inventory is valued at the lower of cost and net realisable value, after due regard for obsolete and slow-moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed. In the year ending 31[st] August 2022 an adjustment was done to the prior year stock calculation ## **9. Debtors** There were no debtors at the end of 31[st] August 2022. ## **10. Cash within the charity** The balances of the cash within the charity at the end of 31[st] August 2022 was as follows: The balance in the Co-operative bank account on 31st August 2022 was £0 The balance in the PayPal account on 31st August 2022 was £1,048.66 The balance in the Unity Trust Bank on 31st August 2022 was £40,610.03 **Total cash £41,658.69** ## **11. Trade Creditors** Trade Creditors as of 31 August 2022 was £325.50. This related to two invoices from Slime Cycleworks, invoices 220805-1 (£274.50) and Oxford Products Ltd Inv 1203111 (£51.00). These were both paid in September. ## **12. Income Summary by Activity** Breakdown of Expenditure reported in these financial statements Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 21 **CYCLOX** ## **13. Expenditure Summary by Activity** Breakdown of Expenditure reported in these financial statements 22 Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022 **CYCLOX** ## **14. Accrued Income** At the end of 31 August 2022 there was no accrued income. ## **15. Deferred Income** Deferred Income has been released into 2021-2022 FY. ## **16. Accruals** There were no accruals made in 2021-2022 financial year. ## **17. Trustees’ remuneration and expenses** No Trustees received any remuneration during the financial year. ## **18. Taxation** The company is a registered charity and is, therefore, exempt from taxation. ## **19. Controlling entity** The charity is controlled by the Trustees. 23 Annual Trustee Report and Financial Statements for the Year Ended 31 August 2022