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2025-03-31-accounts

ANNUAL W- REPORT l&@o! &AccouNrs 20￿1 cl Qothmunity Bike Project

Contents

Contents
A note from the co-chairs 3
A note from the Chief Executive Ofcer 4
1. Our details 5
2. Structure, Governance and management 5
3. Charitable objectives and activities 6
4. What we’ve done this year 7
Context 7
Our objectives for the year 2024/25 were: 7
A Year in Review: Key Milestones 7
Activities and Achievements - Our year in numbers 8
Drop-in workshops 8
Cycle maintenance training 8
Bike refurbishment 8
Our volunteers 8
Stafng and sustainability 9
5. Next year - our aims for 2025/26 9
6. 2024/25 fnances 10
Want more? . 10
Examiner’s report 11
Accounts 12

Sheffield Community Bike Project Annual Report & Accounts 2024/25

2

A note from the co-chairs

It’s been a big year for Sheffield Community Bike Project!

We’ve made the leap from running weekly sessions in borrowed spaces to becoming a fully-fledged charity with a permanent home right in the centre of Sheffield. With the support of our brilliant community, we’ve opened our doors wider than ever - running 93 drop-in workshops, helping over 270 DIY bike fixes, and fully refurbishing 30 donated bikes to keep them on the road.

We’ve also grown our team, held a successful crowdfunder, and set up the systems and structures that will help us keep going for the long haul. Most importantly, our community of volunteers continues to be the beating heart of what we do - offering their time, skills and care to make this space welcoming, practical, and people-powered.

As we look ahead, we’re focused on growing sustainably - expanding our opening hours, strengthening our team, and securing money for a paid CEO role. We’re excited about the future and deeply grateful to everyone who’s joined us on the journey so far.

Here’s to another year of bikes, community and positive change!

Ella Wright & Joy Kimberlee

Co-Chairs, Sheffield Community Bike Project

Sheffield Community Bike Project Annual Report & Accounts 2024/25

3

A note from the Chief Executive Officer

It is such a joy to be part of this wonderful project and the community that surrounds it.

Thinking back now to our first sunset gilt meeting, one big reflection is on our naïvety - to the sheer quantity of tears, new friends, greasy fingernails, late nights (both joyous and gruelling), afternoons spent wedged in the small space between ceiling tiles and concrete slab above, belly laughter and endless hours of spreadsheets that we were letting ourselves in for.

But here we are… We’ve built a thriving, precious thing. Hundreds and hundreds of people have poured effort and love into it. And that is what makes it so precious. Thank you if you’ve done that, even just a tiny bit. This project is yours.

Some days it feels scary being entrusted to help steer such a precious thing, but some days, I take a break from my keyboard tapping in our upstairs office room to investigate the chatter building in the workshop below. It brings me such pleasure to see the recurrent dance of derailleur fettling, problem pondering and tool rack raising that takes place there. For me, it’s a social necessity, a sense of belonging that nourishes me.

I love watching our space, our offering and our volunteers growing; becoming bigger, better, wiser, kinder, more welcoming. An important part of that is our participatory decision making approach; making sure that volunteers are a big part of deciding what and how we do, and feel freedom to shape the project.

Sheffield Community Bike Project, I love you. Let’s keep dancing.

Pete Nolan

CEO, Sheffield Community Bike Project

Sheffield Community Bike Project Annual Report & Accounts 2024/25

4

1. Our details

Name: Sheffield Community Bike Project Registration number: 1208625

Address: Sheffield Community Bike Project, 39 king Street, Sheffield, S3 8LF Trustee Names:

Eleanor Wright (Co-chair) Lisa Joy Kimberlee (Co-chair) Lewis Adam Watson (Treasurer) Daniel Joseph Robinson Hannah Frances Amey Christopher Varney Oliver Tanqueray Peter Nolan (resigned January 2025) Eddie Miles (resigned December 2024) Holly Mckenzie (resigned June 2024)

The Trustees confirm that they have referred to the Charity Commission’s Guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.

2. Structure, Governance and management

Sheffield Community Bike Project is a Charitable Incorporated Organisation (CIO) with an association model, registered on 11 June 2024. The charity is governed by its constitution .

The organisation is overseen by a board of seven trustees , including two Co-chairs and a Treasurer. In addition, we have a Chief Executive Officer currently serving in an unpaid capacity, who forms part of the management team. We also employ a Project Coordinator and a Volunteer Coordinator , each working 8.5 hours per week.

Trustees are appointed in accordance with the charity’s constitution. At the first Annual General Meeting (AGM), all trustees retire from office. At each subsequent AGM, one third of the trustees (or the number nearest to one third) retire by rotation. Those with the longest continuous service retire first, with ties resolved by mutual agreement or by drawing lots. Vacancies may be filled by election at the AGM or, if necessary, through trustee appointments between AGMs, in line with the provisions of the governing document.

The board of trustees meets monthly to oversee the strategic direction and governance of the charity. We aim to make decisions by consensus wherever possible and actively involve volunteers in shaping the direction of the project. Most trustee board meetings are open to volunteers where appropriate, and we hold monthly operations meetings that provide a dedicated space for volunteers to contribute ideas, raise concerns, and help guide the development of the organisation.

Sheffield Community Bike Project Annual Report & Accounts 2024/25

5

3. Charitable objectives and activities

The object of Sheffield Community Bike Project is the advancement of environmental protection or improvement for the public benefit in the city of Sheffield. We do this by:

In practical terms, our main day to day activity is helping people learn how to fix their own bicycles and refurbishing used bikes for sale.

Our core activity is running drop-in maintenance sessions that are pay-as-you-can and do-it-together . These sessions are designed to be accessible to everyone, and our volunteers provide support and guidance in a welcoming, inclusive space. We aim to foster a sense of shared learning and community, encouraging more people to feel confident maintaining their own bikes.

We also offer targeted training sessions for our volunteers, covering key systems such as brakes, wheels, and gears. These are occasionally opened up to the public as well.

The bikes and used parts we use are donated by the public. Our volunteers refurbish them in our community workshop, and the bikes are then sold, supporting the sustainability of the project and helping to keep quality bikes affordable and in circulation. As we build capacity, we hope to expand our training offer and run more sessions for the public, making hands-on bike maintenance skills even more accessible across the community.

Sheffield Community Bike Project Annual Report & Accounts 2024/25

6

4. What we’ve done this year

Context

SCBP began in August 2022 when a group of us united with a shared vision: to help the people of Sheffield fix their bikes. We kicked off our drop-in workshop sessions the following month at the Foodhall community centre. By December 2022 , we had moved to a new home at a community art space run by Art Catalyst. Over the next year, we continued to grow, but as demand for our sessions increased, it became clear that we needed a dedicated, purpose-built workshop to expand our services to the people of Sheffield.

Our objectives for the year 2024/25 were:

And one step at a time we achieved all of these!

A Year in Review: Key Milestones

April: We were open one evening a week at Soft Ground.

June: We officially transitioned from a Community Interest Company to a Charitable Incorporated Organisation.

July: We moved out of Soft Ground and into our new space at 39 King Street and began some serious DIY to fit out the new workshop.

August: We launched our crowdfunding campaign.

September: We held our grand opening party and ran our first drop-in workshop on September 25th.

October: Our Volunteer Coordinator and Project Coordinator came on board.

December: We raised over £5000 with the help of our wonderful community and began work to fulfill all our crowdfunding rewards.

January: Our Chair, Pete Nolan resigned and stepped into a new CEO role at the project.

February: We launched our monthly Queer and Women’s cycling sessions and attended the Cycling UK conference in Sheffield.

Sheffield Community Bike Project Annual Report & Accounts 2024/25

7

- Activities and Achievements Our year in numbers

Drop-in workshops

We’ve made great strides in expanding our drop-in workshops and deepening community engagement. With our bright yellow sign, we’ve become a real presence on King Street! We're now open three days a week , with plans to increase to five days a week by 2025 .

Cycle maintenance training

Our focus this year has been increasing the number of drop-in sessions and upskilling our expanding volunteer team through internal training. Looking ahead, we aim to deliver public cycle maintenance training as well. This year we ran 4 training sessions.

Bike refurbishment

Thanks to our new space, we’ve been able to start accepting donations of bikes and parts and selling them at affordable prices.

Our volunteers

With the hiring of a Volunteer Coordinator, we’ve expanded our team and created more ways for people to get involved.

Our volunteers support the day-to-day running of the workshop and contribute to shaping the project itself. They also take part in:

Sheffield Community Bike Project Annual Report & Accounts 2024/25

8

Staffing and sustainability

This year, we’ve firmly rooted ourselves in the heart of Sheffield and employed two staff members . Behind the scenes, we’ve worked hard to establish the policies, procedures, and infrastructure needed to ensure the long-term sustainability of the charity and many hours of volunteer time has made this possible. We are aware that with the growing responsibilities of the organisation, it is important we are thinking about how we can make sure we are reliably fulfilling these duties.

- 5. Next our aims for 2025/26 year

As we continue to grow, our focus for the coming year is on building stability and deepening our impact. Our key aims are:

Sheffield Community Bike Project Annual Report & Accounts 2024/25

9

6. 2024/25 finances

Our expansion has been made possible through the continued generosity of our supporters and funders, reflected in a total income of £43,361 for 2024/25. In addition to our income from sales at our drop-in workshops, we received funding from National Lottery, Lightrock Power and hundreds of smaller donations from our community.

Expenditure for the year totalled £35,892 , the majority of which was invested into delivering our core charitable objectives, including our drop in workshops, volunteer coordination and maintenance of workshop facilities.

As we look to the year ahead, our focus will shift towards ensuring the long-term sustainability of the project. Key priorities include improving financial resilience through building an appropriate reserve, growing income from workshop sales and donations, building a community of supporters who are signed up to give regularly to the project, and seeking multi-year funding from grant making organisations.

These measures will ensure that SCBP continues to be a reliable and accessible resource for sustainable transport in Sheffield for years to come.

Want more? .

You can find out more on our website https://shefeldcommunitybikeproject.org/

You can sign up to our newsletter https://shefeldcommunitybikeproject.org/contact/ You can get in touch by email info@shefeldcommunitybikeproject.org

You can find us on social media by searching Sheffield Community Bike Project

Or come and visit us at our workshop at 39 King Street !

Sheffield Community Bike Project Annual Report & Accounts 2024/25

10

1 ~~2~~ - 32

Sheffield Community Bike Project Annual Report & Accounts 2024/25 11

Charity Name: SHEFFIELD Charity No 1208625 COMMUNITY BIKE PROJECT Company No N/A Annual accounts for the period Period start date: 11/06/2024 To Period end date: 31/03/2025

Section A Statement of financial activities

Incoming resources (Note 3)
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Separate material item of income
Other
Resources expended (Note 6)
Expenditure on:
Raising funds
Charitable activities
Separate material item of expense
Other
Net gains/(losses) on investments
Extraordinary items
Other gains/(losses)
Reconciliation of funds:
Total
Net movement in funds
Total funds brought forward
Total funds carried forward
Total
Net income/(expenditure) before investment
gains/(losses)
Net income/(expenditure)
Transfers between funds
Other recognised gains/(losses):
Gains and losses on revaluation of fixed assets for the charity’s own use		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Prior year funds
£
£
£
£
£
F01
F02
F03
F04
F05
13,963
£
22,900
£
-
£
36,863
£
-
£
5,340
£
-
£
-
£
5,340
£
-
£
1,158
£
-
£
-
£
1,158
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
20,461
£
22,900
£
-
£
43,361
£
-
£
1,264
£
160
£
-
£
1,424
£
-
£
13,504
£
16,264
£
-
£
29,768
£
-
£
4,493
£
50
£
-
£
4,543
£
-
£
157
£
-
£
-
£
157
£
-
£
19,418
£
16,474
£
-
£
35,892
£
-
£
1,043
£
6,426
£
-
£
7,469
£
-
£
-
£
-
£
-
£
-
£
-
£
1,043
£
6,426
£
-
£
7,469
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
-
£
1,043
£
6,426
£
-
£
7,469
£
-
£
7,964
£
-
£
-
£
7,964
£
-
£
9,007
£
6,426
£
-
£
15,433
£
-
£

Sheffield Community Bike Project Annual Report Accounts 2024/25

12

----- Start of picture text -----
Charity No 1208625
Charity Name: SHEFFIELD COMMUNITY BIKE
PROJECT Company No N/A
Annual accounts for the period Period start date: 11/06/2024 To Period end date: 31/03/2025
----- End of picture text -----

Section B Balance sheet

Fixed assets
Intangible assets
Tangible assets (Note 14)
Heritage assets
Investments
Total fixed assets
Current assets
Stocks (Note 18)
Debtors (Note 19)
Investments
Cash at bank and in hand (Note 24)
Total current assets
Creditors: amounts falling due within
one year
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due after one
year
Provisions for liabilities
Total net assets or liabilities
Funds of the Charity
Endowment funds
Restricted income funds
Unrestricted funds
Revaluation reserve
Fair value reserve
Total funds		 Unrestricted
funds
£
F01
£ -
£ -
£ -
£ -		 Restricted income
funds
£
F02
£ -
£ 3,511
£ -
£ -
Endowment funds
£
F03
£ -
£ -
£ -
£ -
Total this year
Total last year
£
£
F04
F05
£ -
-
£
£ 3,511
-
£
£ -
-
£
£ -
-
£
£ - £ 3,511 £ - £ 3,511
-
£
£ 3,397
£ 1,715
£ -
£ 15,433
£ -
£ -
£ -		 £ -
£ -
£ -
£ -
£ 3,397
-
£
£ 1,715
-
£
£ -
-
£
£ 15,433
-
£
£ 20,545 £ - £ - £ 20,545
-
£
£ -
-
£
£ - £ - £ -
£ 20,545 £ - £ - £ 20,545
-
£
£ 20,545 £ 3,511 £ - £ 24,056
-
£
£ -
-
£
£ -
-
£
£ -
£ -		 £ -
£ -		 £ -
£ -
£ 20,545 £ 3,511 £ - £ 24,056
-
£
£ -
£ 9,007		 £ 6,426
£ -		 £ -
-
£
£ 6,426
-
£
£ 9,007
-
£
£ -
-
£
£ 9,007 £ 6,426 £ - £ 15,433
-
£

The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

Signed by two trustees on behalf of all the trustees Lisa Joy Kimberlee
01/10/2025
Print Name
Date of approval
Lewis Adam Watson
01/10/2025

Sheffield Community Bike Project Annual Report Accounts 2024/25

13

Section C Notes to the accounts

Note 1 Basis of preparation

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with:

• and with*

the Statement of Recommended Practice: Accounting and Reporting by Charities
preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014
• and with*

the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland (FRS 102)
• and with the Charities Act 2011.
TRUE
The charity constitutes a public benefit entity as defined by
FRS 102.*

1.2 Going concern

If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:

Where accounts are not prepared on a going
concern basis, please disclose this fact
together with the basis on which the trustees
prepared the accounts and the reason why the
charity is not regarded as a going concern.
Disclosure of any uncertainties that make the
going concern assumption doubtful;
An explanation as to those factors that support
the conclusion that the charity is a going
concern;		 Not Applicable

Not Applicable
Not Applicable

1.3 Change of accounting policy

The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note 2.2

Yes

No
-Tick as appropriate
(i) the nature of the change in accounting policy;
(ii) the reasons why applying the new accounting policy
provides more reliable and more relevant information;
and
(iii) the amount of the adjustment for each line affected
in the current period, each prior period presented and
the aggregate amount of the adjustment relating to
periods before those presented, 3.44 FRS102 SORP.
Please disclose:*		 * -Tick as appropriate

Sheffield Community Bike Project Annual Report Accounts 2024/25

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1.4 Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period (3.46 FRS102 SORP).

----- Start of picture text -----
Yes
 -Tick as appropriate
No
Please disclose:
(i) the nature of any changes;
(ii) the effect of the change on income and expense or
assets and liabilities for the current period; and
(iii) where practicable, the effect of the change in one or
more future periods.
----- End of picture text -----*

1.5 Material prior year errors

----- Start of picture text -----
No material prior year error have been identified in the reporting period (3.47 FRS102 SORP).
Yes
 -Tick as appropriate
No
Please disclose:
(i) the nature of the prior period error;
(ii) for each prior period presented in the accounts, the
amount of the correction for each account line item
affected; and
(iii) the amount of the correction at the beginning of the
earliest prior period presented in the accounts.
----- End of picture text -----*

Sheffield Community Bike Project Annual Report Accounts 2024/25

15

Section C Notes to the accounts (cont)

Recognition of income
Support costs
Contractual income and
performance related
grants
This is only included in the SoFA once the charity has provided the related goods or
services or met the performance related conditions.
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be
the fair value of those gifts at the time of their receipt and they are recognised on receipt.
In the reporting period in which the stocks are distributed, they are recognised as an
expense at the carrying amount of the stocks at distribution.
Tax reclaims on
donations and gifts
Gift Aid receivable is included in income when there is a valid declaration from the
donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift
and is treated as an addition to the same fund as the initial donation unless the donor or
In the case of performance related grants, income must only be recognised to the extent
that the charity has provided the specified goods or services as entitlement to the grant
only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
Government grants
The charity has received government grants in the reporting period
Grants and donations
Grants and donations are only included in the SoFA when the general income
recognition criteria are met (5.10 to 5.12 FRS102 SORP).
Legacies
Legacies are included in the SOFA when receipt is probable, that is, when there has
been grant of probate, the executors have established that there are sufficient assets in
the estate and any conditions attached to the legacy are either within the control of the
These are included in the Statement of Financial Activities (SoFA) when:
 the charity becomes entitled to the resources;
 it is more likely than not that the trustees will receive the resources;
 the monetary value can be measured with sufficient reliability.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless
required or permitted by the FRS 102 SORP or FRS 102.
Note 2 Accounting policies
2.2 INCOME
Donated goods for resale are measured at fair value on initial recognition, which is the
expected proceeds from sale less the expected costs of sale, and recognised in 'Income
from other trading activities' with the corresponding stock recognised in the balance
sheet. On its sale the value of stock is charged against 'Income from other trading
activities' and the proceeds from sale are also recognised as 'Income from other trading
activities'.
Donated services and
facilities
Donated services and facilities are included in the SOFA when received at the value of
the gift to the charity provided the value of the gift can be measured reliably.
Donated services and facilities that are consumed immediately are recognised as
income with an equivalent amount recognised as an expense under the appropriate
heading in the SOFA.
The charity has incurred expenditure on support costs.
Volunteer help
The value of any voluntary help received is not included in the accounts but is described
in the trustees’ annual report.
Goods donated for on-going use by the charity are recognised as tangible fixed assets
and included in the SoFA as incoming resources when receivable.
Donated goods
Donated goods are measured at fair value (the amount for which the asset could be
exchanged) unless impractical to do so.
Gifts in kind for use by the charity are included in the SoFA as income from donations
when receivable.		 Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a*

Sheffield Community Bike Project Annual Report Accounts 2024/25

16

Grants with performance
conditions
2.4 ASSETS
They are valued at cost.
The depreciation rates and methods used are disclosed in note 14.
Intangible fixed assets
The charity has intangible fixed assets, that is, non-monetary assets that do not have
physical substance but are identifiable and are controlled by the charity through custody
or legal rights. The amortisation rates and methods used are disclosed in note 15.
They are valued at cost.
Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently
measured at the best estimate of the amount required to settle the obligation at the
reporting date
Basic financial
instruments
The charity accounts for basic financial instruments on initial recognition as per
paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17
to 11.19, FRS102 SORP.
Tangible fixed assets for
use by charity
These are capitalised if they can be used for more than one year, and cost at least:
Creditors
The charity has creditors which are measured at settlement amounts less any trade
discounts
Deferred income
No material item of deferred income has been included in the accounts.
Liability recognition
Liabilities are recognised where it is more likely than not that there is a legal or
constructive obligation committing the charity to pay out resources and the amount of the
obligation can be measured with reasonable certainty.
Investment gains and
losses
This includes any realised or unrealised gains or losses on the sale of investments and
any gain or loss resulting from revaluing investments to market value at the end of the
year.
The charity made no redundancy payments during the reporting period.
Governance and support
costs
Support costs have been allocated between governance costs and other support.
Governance costs comprise all costs involving public accountability of the charity and its
compliance with regulation and good practice.
Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, eg allocating property costs
by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Where the charity gives a grant with conditions for its payment being a specific level of
service or output to be provided, such grants are only recognised in the SoFA once the
recipient of the grant has provided the specified service or output.
Grants payable without
performance conditions
Where there are no conditions attaching to the grant that enables the donor charity to
realistically avoid the commitment, a liability for the full funding obligation must be
recognised.
Redundancy cost
Settlement of insurance
claims
Insurance claims are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other
income in the SoFA.
2.3 EXPENDITURE AND LIABILITIES
Income from membership
subscriptions
Membership subscriptions received in the nature of a gift are recognised in Donations
and Legacies.
Membership subscriptions which gives a member the right to buy services or other
benefits are recognised as income earned from the provision of goods and services as
income from charitable activities.
This is included in the accounts when receipt is probable and the amount receivable can
be measured reliably.
Income from interest,
royalties and dividends		 Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a


Yes
No
N/a

Yes
No
N/a

Sheffield Community Bike Project Annual Report Accounts 2024/25

17

Heritage assets

Investments

Stocks and work in progress

Debtors

Current asset investments

The charity has heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and maintained principally for their contribution to knowledge and culture. The depreciation rates and methods used as disclosed in note 16.

They are valued at cost.

Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.

Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments

Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net realisable value.

Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock.

Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

The charity has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity of loss than one year held for investment purposes rather than to meet short-term cash commitments as they fall due.

They are valued at fair value except where they qualify as basic financial instruments.

Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*

The charity receives donated bicycles for resale. Under Charities SORP (FRS 102), such donated goods would normally be measured at fair value on initial recognition, with the corresponding stock recognised on the balance sheet and income recorded in "Income from other trading activities."

POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE

Due to the pricing policy, which varies depending on the income level of the purchaser, a reliable fair value cannot be determined at the point of donation. Accordingly, income from donated bicycles is recognised on sale and the stock is not recorded on the balance sheet.

The charity’s objectives include the advancement of environmental protection and waste reduction in Sheffield by promoting cycling, reconditioning and recycling bicycles, and providing cycle maintenance workshops. Sales of donated bicycles directly further these charitable activities. Consequently, income from bicycle sales is included within income from charitable activities.

This treatment represents a departure from the SORP recommended accounting policy. The trustees are satisfied that the accounts provide a true and fair view of the charity’s financial position and performance.

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18

Section C Notes to the accounts (cont)

----- Start of picture text -----
Note 3 Income
Unrestricted Restricted Endowment
Analysis of income funds income funds funds Total funds Prior year
Donations and Donations and gifts £ 13,024 £ - £ - £ 13,024 £ -
legacies: Gift Aid £ 939 £ - £ - £ 939 £ -
General grants provided by other charities £ - £ 22,900 £ - £ 22,900 £ -
Other £ - £ - £ - £ -
Total £ 13,963 £ 22,900 £ - £ 36,863 £ -
Charitable Workshop Income £ 5,240 £ - £ - £ 5,240 £ -
activities: Sheffilld City Council Castlegate Festival £ 100 £ - £ - £ 100 £ -
Other £ - £ - £ - £ - £ -
Total £ 5,340 £ - £ - £ 5,340 £ -
Other trading Opening Party £ 1,158 £ - £ - £ 1,158 £ -
ti iti Other £ - £ - £ - £ - £ -
Total £ 1,158 £ - £ - £ 1,158 £ -
TOTAL INCOME £ 20,461 £ 22,900 £ - £ 43,361 £ -
----- End of picture text -----

Sheffield Community Bike Project Annual Report Accounts 2024/25

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Section C Notes to the accounts (cont)

Note 5 Donated goods, facilities and services

----- Start of picture text -----
This year Last year
Donated goods for resale £ 672 £ -
Donated tools for use £ 450 £ -
Other £ - £ -
£ 1,122 £ -
This year Last year
The charity receives donated bicycles and bicycle parts which
Please provide details of the are refurbished and sold as part of the delivery of its charitable
objectives. In accordance with the accounting policy set out in
accounting policy for the recognition Note 2.2, donated goods are not recognised in the accounts on N/A
and valuation of donated goods,
receipt. Income is recognised only when donated goods are
facilities and services. sold, at the amount received, and is included within income from
charitable activities.
Please provide details of any unfulfilled
conditions and other contingencies
attaching to resources from donated N/A N/A
goods and services not recognised in
income.
Please give details of other forms of The charity benefits from significant volunteer time and
other donated goods and services not expertise, which, while not recognised in these financial N/A
recognised in the accounts. statements, materially support the delivery of its activities.
----- End of picture text -----

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20

Section C Notes to the accounts (cont)

Note 6 Analysis of expenditure

----- Start of picture text -----
This year Last year
Restricted
Unrestricted Restricted Endowment Unrestricted income Endowment
Analysis funds income funds funds Total funds funds funds funds Total funds
Expenditure on raising funds: £ £
Staging fundraising events £ 768 £ 160 £ - £ 928 £ -
Advertising, marketing, direct mail and
£ 288 £ - £ - £ 288 £ - £ - £ - £ -
publicity
Crowdfunder Fulfilment £ 208 £ - £ - £ 208 £ - £ - £ - £ -
Total expenditure on raising funds £ 1,264 £ 160 £ - £ 1,424 £ - £ - £ - £ -
Expenditure on charitable activities:
Staff Costs £ - £ 10,901 £ - £ 10,901 £ - £ - £ - £ -
Rent £ 6,954 £ 3,000 £ - £ 9,954 £ - £ - £ - £ -
Business Rates £ 940 £ - £ - £ 940 £ - £ - £ - £ -
Utilities £ 2,484 £ - £ - £ 2,484 £ - £ - £ - £ -
Safety Equipment £ 524 £ - £ - £ 524 £ - £ - £ - £ -
POS Service cost £ 769 £ - £ - £ 769 £ - £ - £ - £ -
Insurance £ 54 £ 500 £ - £ 554 £ - £ - £ - £ -
Workshop - Cycle Tools £ - £ 1,181 £ - £ 1,181 £ - £ - £ - £ -
Workshop - Consumables £ 271 £ - £ - £ 271 £ - £ - £ - £ -
New Stock £ 1,443 £ 682 £ - £ 2,125 £ - £ - £ - £ -
IT Costs £ 65 £ - £ - £ 65 £ - £ - £ - £ -
Total expenditure on charitable
£ 13,504 £ 16,264 £ - £ 29,768 £ - £ - £ - £ -
activities
Separate material item of expense
Volunteer Care £ 342 £ 50 £ - £ 392 £ - £ - £ - £ -
Fuel/ Travel £ 75 £ - £ - £ 75
Workshop Renovation £ 4,076 £ - £ - £ 4,076 £ - £ - £ - £ -
Total £ 4,493 £ 50 £ - £ 4,543 £ - £ - £ - £ -
Other
Replacing Stolen Items £ 157 £ - £ - £ 157 £ - £ - £ - £ -
Total other expenditure £ 157 £ - £ - £ 157 £ - £ - £ - £ -
TOTAL EXPENDITURE £ 19,418 £ 16,474 £ - £ 35,892 £ - £ - £ - £ -
----- End of picture text -----

Sheffield Community Bike Project Annual Report Accounts 2024/25

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Section C Notes to the accounts

Note 10 Details of certain items of expenditure

10.1 Fees for examination of the accounts

Other fees (for example: financial advice, consultancy, accountancy services) paid
Independent examiner’s fees
Assurance services other than audit or independent examination
Tax advisory fees		 This year
Last year
£
£
£ 0 £ 0
£ 0 £ 0
£ 0 £ 0
£ 0 £ 0

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Section C Notes to the accounts (cont)

Note 11 Paid employees Please complete this note if the charity has any employees.

11.1 Staff Costs

----- Start of picture text -----
This year Last year
Salaries and wages £ 10,901 £ -
Social security costs £ - £ -
Pension costs (defined contribution scheme)
Other employee benefits £ - £ -
Total staff costs £ 10,901 £ -
This year:
No employees received employee benefits (excluding employer
pension costs) for the reporting period of more than £60,000 TRUE
This year Last year
11.2 Average head count in the year
Number Number
The parts of the charity in which the Fundraising 0 0
employees work Charitable Activities 2 0
Governance 0 0
Other 0 0
Total 2 0
----- End of picture text -----

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Section C Notes to the accounts (cont)

Note 14 Tangible fixed assets

14.1 Cost or valuation

14.1 Cost or valuation
Fixtures, fittings and equipment Total
At the beginning of the year £ 2,500 £ 2,500
Additions £ 1,631 £ 1,631
Revaluations £ - £ -
Disposals £ - £ -
Transfers * £ - £ -
At end of the year £ 4,131 £ 4,131
14.2 Depreciation and impairments
**Basis SL SL
** Rate
15%		 15%
At beginning of the year £ - £ -
Disposals £ - £ -
Depreciation £ 620 £ 620
Impairment £ - £ -
Transfers* £ - £ -
At end of the year £ 620 £ 620
14.3 Net book value
Net book value at the beginning of the year £ 2,500 £ 2,500
Net book value at the end of the year £ 3,511 £ 3,511

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Section C Notes to the accounts (cont)

Note 18 Stocks

Please complete this note if the charity holds any stock items

18.1 Please state the carrying amount of stock and work in progress analysed between activities.

activities.
Stock Donated goods
Work in
Charitable activities: For For resale For For resale progress
distribution distribution
Opening £ - £ 450 £ - £ 150 £ -
Added in period £ - £ 2,125 £ - £ 672 £ -
Expensed in period £ - £ - £ - £ - £ -
Impaired £ - £ - £ - £ - £ -
Closing £ - £ 2,575 £ - £ 822 £ -
Total this year £ - £ 2,575 £ - £ 822 £ -
Total previous year £ - £ - £ - £ - £ -
This year Last year
18.2 Please specify the carrying amount of
any stocks pledged as security for liabilities £ 3,397 £ -

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Section C Notes to the accounts (cont)

Note 19 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

19.1 Analysis of debtors

Trade debtors Prepayments and accrued income Other debtors Total Prepayment Analysis Rent Insurance Total

----- Start of picture text -----
This year Last year
£ - £ -
£ 1,715 £ -
£ - £ -
£ 1,715 £ -
----- End of picture text -----

This year Last year
£ 1,315 £ -
£ 400 £ -
£ - £ -
£ 1,715 £ -

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Section C Notes to the accounts (cont)

Note 22 Other disclosures for debtors, creditors and other basic financial instruments

This year Last year
22.1 Please provide information about the significance of
financial instruments (eg. debtors, creditors, investments
etc) to the charity's financial position or performance, for
example, the terms and conditions of loans or the use of
hedging to manage financial risk.		 The charity’s financial instruments comprise cash at bank and
in hand, short-term trade debtors and creditors, and other
receivables and payables that arise directly from its
operations. The charity does not hold any complex financial
instruments, derivatives, or borrowings other than short-term
leases and obligations disclosed elsewhere in these
accounts.		 N/A
22.2 If the charity has provided financial assets as a form of
security, the carrying amount of the financial assets pledged
as security and the terms and conditions related to its pledge
should be given here.
N/A		 N/A

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Section C Notes to the accounts (cont)

Note 24 Cash at bank and in hand
Other
Cash at bank and on hand
Total
Short term cash investments (less than 3 months maturity date)
Short term deposits		 This year
Last year
£ - £ -
£ - £ -
£ 15,433 £ -
£ - £ -
£ 15,433 £ -

Sheffield Community Bike Project Annual Report Accounts 2024/25

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Section C Notes to the accounts (cont)

Note 28 Transactions with trustees and related parties

If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.

28.1 Trustee remuneration and benefits

This year

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)

TRUE

In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.

----- Start of picture text -----
Amounts paid or benefit value
Legal authority (eg Remuneration Pension Redundancy Other TOTAL
Name of trustee order, governing contribution (including
document) loss of
office)/ex
gratia
£ £ £ £ £
-
- - - -
- - - - -
- - - - -
- - - - -
----- End of picture text -----

Please give details of why remuneration or other employment benefits were paid.

Where an ex gratia payment has been made to a trustee, provide an explanation of the nature of the payment.

If a third party has been reimbursed for providing one or more trustees, state the nature of the payment and amount of the reimbursement.

State the number of trustees to whom retirement benefits are accruing under a defined contribution pension scheme.

Last year

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)

TRUE

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In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.

----- Start of picture text -----
Amounts paid or benefit value
Remuneration Pension Redundancy Other TOTAL
Legal authority (eg contribution (including
Name of trustee order, governing loss of
document) office)/ex
gratia
£ £ £ £
- - - - -
- - - - -
- - - - -
- - - - -
----- End of picture text -----

Please give details of why remuneration or other employment benefits were paid.

Where an ex gratia payment has been made to a trustee, provide an explanation of the nature of the payment.

If a third party has been reimbursed for providing one or more trustees, state the nature of the payment and amount of the reimbursement.

State the number of trustees to whom retirement benefits are accruing under a defined contribution pension scheme.

28.2 Trustees' expenses

TOTAL
-
No trustee expenses have been incurred
Type of expenses reimbursed
Accommodation
-
-
Other (please specify):
-
-
-
This year
£
Subsistence
Travel		 -
-
-
-
-
This year
£		 -
-
Last year
-
£
-
TRUE
-
-

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28.3 Transaction(s) with related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in which a related party has a material interest, including where funds have been held as agent for related parties. If there are no such transactions, please enter 'true' in the box provided.

This year

----- Start of picture text -----
There have been no related party transactions in the reporting period (True or False) FALSE
Amounts
written off
Name of the trustee Relationship Description of the Balance at Provision for bad debts
Amount during
or related party to charity transaction(s) period end at period end
reporting
period
Former
Holly Mckenzie-Barns Employment £760 £ £ £
Trustee
----- End of picture text -----

In relation to the transactions above, please provide the terms and conditions, including any security and the nature of any payment (consideration) to be provided in settlement.

Miss McKenzie-Barnes was employed by SCBP for a two-month period as Project Coordinator for the Cycling UK Big Bike Revival project, funded by an external grant. She had submitted her application to become a trustee prior to SCBP’s formal registration as a charity. During the intervening period, she was appointed to this short-term staff role. Due to an administrative oversight, she was recorded as a trustee; this was identified at the time, and she did not participate in trustee meetings or decision-making in the capacity of a trustee.

Last year

Last year Last year Last year Last year
There have been no related party transactions in the reporting period (True or False) TRUE
Name of the trustee Relationship Description of the Amount
£		 Balance at
£		 Provision for bad debts
£		 Amounts
£
- -
-
-
- -
-
-
- -
-
-
- -
-
-
In relation to the transactions above, please provide the
terms and conditions, including any security and the
nature of any payment (consideration) to be provided in
settlement.

For any related party, please provide details of any guarantees given or received.

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Section C Notes to the accounts (cont)

Note 29 Additional Disclosures

The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.

Sheffield Community Bike Project was registered as a Charitable Incorporated Organisation (CIO) on 11 June 2024, which marks the commencement date for these accounts. As this is the organisation’s first accounting period, there are no previous year records to input. This is a one-off occurrence and will not recur in future reporting periods.

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