**REGISTERED CHARITY NUMBER: SC046527**
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 March 2021
for
SoulRiders (SCIO)
SoulRiders (SCIO)
## Contents of the Financial Statements for the Year Ended 31 March 2021
||**Page**|
|---|---|
|**Report of the Trustees**|1|
|**Independent Examiner's Report**|5|
|**Statement of Financial Activities**|6|
|**Balance Sheet**|7|
|**Notes to the Financial Statements**|8|
SoulRiders (SCIO)
## Report of the Trustees for the Year Ended 31 March 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The organisation is established for charitable purposes only, and in particular, the objects are:
- the advancement of environmental protection or improvement, by establishing;
i) a bespoke training and support programme designed to facilitate the transition from car to bicycle for commuting and local journeys, ii) a car-sharing scheme, and iii) a bicycle re-usage scheme.
- the provision of recreational facilities as well as the organisation of recreational activities with the object of improving the conditions of life for the persons for whom the facilities and activities are primarily intended, by organising regular cycling activities for our beneficiaries covering a range of venues, disciplines, and intensities.
## **Public benefit**
The charity meets the definition of a public benefit entity under FRS 102.
## **Volunteers**
The Charity made use of volunteers in its activities and the Board wishes to express their gratitude for the work carried out in the period by those volunteers, and looks forward to their continuing and valuable assistance.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
This has been a challenging year, with the onset of the coronavirus pandemic. We have had to drastically adapt our projects, premises and strategy. With this we devised a Covid Emergency Action Plan that entailed an extensive refurbishment of our premises to make it safe & accessible and a reprofile of our projects in order to adapt them to this unprecedented circumstance.
What we discovered on this new journey was the power of the bike. The sheer uptake of cycling throughout the country was immense, with families venturing out discovering nature, their neighborhood and the joy of cycling. This rekindling of the human spirit was also very much true with the adaptations made to our projects.
Our eRide project, green transport for communities and Revolutionize, the green collection and delivery service have especially adapted well to the pandemic and have proven to be a green, nimble solution to the challenges faced by society. We immediately devised a portable covid distribution site, using our eCargo bikes and a portacabin as a mobile site to get basic necessities, food and medicine to the elderly, isolated and most vulnerable in our neighborhoods. This unexpected circumstance has allowed us to create a truly innovative model and a strategy which forms part of the solution for smarter, greener neighborhoods of tomorrow. With local community at the heart of this, and the woes that the pandemic has brought, this has truly been the light that has shone through the darkness.
## **Stakeholders**
Some of our key stakeholders this year have been Keep Scotland Beautiful, Paths for All and SP Energy Networks. These partnerships have been instrumental in shaping the organisation and creating local social impact.
Page 1
SoulRiders (SCIO)
## Report of the Trustees
## for the Year Ended 31 March 2021
## **ACHIEVEMENT AND PERFORMANCE Fundraising Activities**
SoulRiders engaged with 720 people throughout the year in various activities outlined below:
o Community transport webinars o Community climate change awareness webinars o Partner & Stakeholder Events o eCargo bike essential cycle skills training o eCargo bike shopping & load carrying training o Route planning o eCargo bike young people transportation o eCargo bike taster sessions o Zero-emissions service for delivery and collection of goods o eCargo bike shadow rides and e-cargo bike trials o Bike repairs for the local community o 1 to 1 advice and support o Organised group rides o Networking with various forums, organisations and community-led agencies
## **FINANCIAL REVIEW**
## **Financial position**
The financial statements show the overall position of the charity as at 31 March 2021, and of its income and expenditure for the period ended on that date.
A number of grants were received during the period totalling £140,754 (2020 - £175,866). Income from donations amounted to £2,119 (2020 - £531) in the year. Bike sales, repairs and other income augmented this, producing a total income of £148,952 (2020 - £195,106).
Expenditure totalled £141,809 (2020 - £130,464) as detailed in the Statement of Financial Activities and this results in net income for the year of £7,143 (2020 - net income of £64,642).
## **Principal funding sources**
The Charity continues to rely on grant income as its principal source of funding in order to meet its objectives.
## **Reserves policy**
The reserves in the balance sheet represent accumulated funds for the period to date. A balance of reserves will be maintained to cover fluctuations in income and expenditure, to allow for any unexpected major expenditure requirement or to mitigate any decline in the overall financial environment. The board are satisfied that the level of reserves retained and reflected in the financial statements are sufficient. Reserves held by the charity as at 31 March 2021 totalled £80,219 (2020 - £73,076). Within this, unrestricted funds were at a surplus of £37,559 (2020 - surplus of £16,022), and the restricted funds balance was £42,660 (2020 - £57,054).
## **Going concern**
The board do not consider that there are any concerns over the Charity's ability to continue as a going concern.
## **FUTURE PLANS**
The pandemic has enabled us to approach our organization with a clean slate, allowing us to build on the huge opportunities that have developed in community cycling. Our focus will remain on self-sustainability through enhancing our social enterprise model and devising a fresh new organizational strategy for the road ahead.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Charity initially operated as an unincorporated club and then was converted to a Scottish Charitable Incorporated Organisation (SCIO) on 5 May 2016 with the approval of OSCR. A new constitution was adopted at this point, with the assets and liabilities of the club being transferred to the SCIO.
Page 2
SoulRiders (SCIO)
## Report of the Trustees for the Year Ended 31 March 2021
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
The individuals who signed the charity trustee declaration forms which accompanied the application for incorporation as a SCIO shall be deemed to have been appointed by the members as charity trustees with effect from the date of incorporation.
At each AGM, the members may elect any member (unless debarred from membership) to be an elected trustee - elected trustees must be members of the organisation. In the event of an elected trustee ceasing to hold such office for any reason between AGMs, the board may appoint any other member (unless debarred from being a charity trustee) to the board in their place as an elected trustee until the next AGM, when the person so appointed shall retire from office but may then be elected by the members.
In addition, the board may at any time appoint any person (unless debarred from being a charity trustee) to be an appointed trustee. The board may at any time terminate the appointment of an appointed trustee.
A person will not be eligible for either election or appointment as a trustee if they are an employee of the organisation or are disqualified from being a charity trustee under Charities and Trustee Investment (Scotland) Act 2005.
At each AGM, all of the elected trustees must retire from office but may then be re-elected. An elected trustee retiring at an AGM will be deemed to have been re-elected unless they have advised the board prior to the conclusion of the AGM that they do not wish to be re-appointed as a charity trustee; or an election process was held at the AGM and they were not among those elected/re-elected through that process.
The organisation must have at least three trustees and a maximum of ten.
Trustees must appoint one of their number for the office of Convenor, a Treasurer and a Secretary, in addition with any other offices which the board may consider appropriate. All office bearers will cease to hold that office at the conclusion of each AGM but may then be re-elected. Office bearers will cease to hold their position if they cease to be a charity trustee or on production of a signed notice of resignation.
## **Organisational structure**
The day to day running of the Charity is the duty of the Trustees who meet regularly to set policy and take all major decisions regarding the Charity.
## **Induction and training of new trustees**
The policies of the Charity for the induction and training of the induction and training of new Board members are tailored to suit the knowledge and experience of the appointee.
## **Key management remuneration**
There are no other key management other than the Trustees outlined in the Reference and Administration section of this report. Remuneration of key management is outlined in the notes to the financial statements.
## **Related parties**
During the year under review, the charity purchased 100% of the share capital of SoulRiders Limited, being one £1 Ordinary share. SoulRiders Limited was formed and incorporated on 21 September 2020, and was dormant for the period to 31 March 2021.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
SC046527
Page 3
SoulRiders (SCIO)
## Report of the Trustees for the Year Ended 31 March 2021
## **Principal address**
4 Forth Street Glasgow G41 2SS
## **Trustees**
## **Independent Examiner**
BA (Hons) CA Gillespie & Anderson 147 Bath Street Glasgow G2 4SN
## **Bank**
Bank of Scotland PO Box 1000 BX2 1LB
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland, the Charities and Trustee Investment (Scotland) Act 2005, Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution, requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution. 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 board of trustees on 3 March 2022 and signed on its behalf by:
R Ibrahim - Trustee
Page 4
## Independent Examiner's Report to the Trustees of SoulRiders (SCIO)
I report on the accounts for the year ended 31 March 2021 set out on pages six to eighteen.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
## **Basis of the independent examiner's report**
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention :
- (1) which gives me reasonable cause to believe that, in any material respect, the requirements
- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Gillespie & Anderson 147 Bath Street Glasgow G2 4SN
3 March 2022
Page 5
## SoulRiders (SCIO)
## Statement of Financial Activities for the Year Ended 31 March 2021
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
9,167
**Charitable activities**
4
Main charitable activities
-
Other trading activities
3
5,867
Other income
-
**Total**
15,034
**EXPENDITURE ON**
**Charitable activities**
5
Main charitable activities
45,548
**NET INCOME/(EXPENDITURE)**
(30,514)
**Transfers between funds**
16
52,051
**Net movement in funds**
21,537
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
16,022
**TOTAL FUNDS CARRIED FORWARD**
37,559|Restricted
funds
£
133,706
-
-
212
133,918
96,261
37,657
(52,051)
(14,394)
57,054
42,660|2021
Total
funds
£
142,873
-
5,867
212
148,952
141,809
7,143
-
7,143
73,076
80,219|2020
Total
funds
£
176,397
700
18,009
-|
|---|---|---|---|
||||195,106
130,464|
||||64,642
-|
||||64,642
8,434|
||||73,076|
The notes form part of these financial statements
Page 6
## SoulRiders (SCIO)
|Balance Sheet
31 March 2021
Notes
**FIXED ASSETS**
Tangible assets
11
**CURRENT ASSETS**
Debtors
12
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
13
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
16
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2021
£
27,211
57,251
13,770
71,021
(18,013)
53,008
80,219
80,219
37,559
42,660
80,219|2020
£
6,159
57,384
26,393
83,777
(16,860)
66,917
73,076
73,076
16,022
57,054
73,076|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 3 March 2022 and were signed on its behalf by:
The notes form part of these financial statements
Page 7
SoulRiders (SCIO)
## Notes to the Financial Statements for the Year Ended 31 March 2021
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', The Scottish Charitable Incorporated Organisations Regulations 2011 and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention.
## **Presentation currency**
The financial statements are presented in pound sterling (£), which is the functional currency of the charity.
## **Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
## **Critical accounting judgements and key sources of estimation uncertainty**
The Trustees have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The Trustees estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Donations and legacies consist of donations and grants which are recognised when the Charity is entitled to the income, receipt is probable and the amount can be measured reliably.
Main charitable activities income is that received by the charity in relation to the hiring out of its premises.
Other trading activities is funds raised from the sale and repair of bikes along with a small amount from the sale of scrap metal.
Other income includes all income outwith that detailed above received in the year.
## **Volunteers**
In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the financial statements due to inaccurate measurement bases.
## **Expenditure**
Expenditure has been classified under the headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources.
Expenditure is recognised on an accrual basis when a legal liability is incurred, payment of the liability is probable and the amount can be measured reliably. The amount includes any VAT which cannot be fully recovered. VAT is reported as part of the expenditure to which it relates.
Charitable activities comprise all resources expended undertaking work to meet the charity's charitable objectives. Such costs include the direct costs of charitable activities approved by the charity and all support costs relating to these activities. Governance costs include direct resources expended in the general running of the charity and are primarily associated with constitutional and statutory requirements. These costs are allocated entirely to charitable activities.
continued...
Page 8
SoulRiders (SCIO)
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **1. ACCOUNTING POLICIES - continued**
## **Expenditure**
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Support costs**
Support costs are allocated wholly to charitable activities. While the Trustees recognise that a small part of some items of expenditure may relate to indirect governance costs, they are of the opinion that time and costs involved in performing such analysis outweigh the potential benefits arising from any such work.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost Plant and machinery - 25% on cost Fixtures and fittings - 25% on cost Computer equipment - 25% on cost
It is the policy of the Charity not to consider items of expenditure less than £500 for capitalisation.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Financial instruments**
The charity has no complex financial instruments but does hold basic financial instruments of; cash at bank, debtors and creditors.
Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. A bank overdraft would be shown within current liabilities.
## **Financial instruments**
Debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effect of discounting would be immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.
Creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.
continued...
Page 9
SoulRiders (SCIO)
## Notes to the Financial Statements - continued
## for the Year Ended 31 March 2021
## **1. ACCOUNTING POLICIES - continued**
## **Employee benefits**
The total cost of employee benefits to which employees have become entitled as a result of service rendered to the entity during the reporting period are recognised and charged to the profit and loss account in the period to which they relate.
## **Provision for liabilities**
A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.
## **Volunteers**
In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the financial statements due to inaccurate measurement bases.
## **2. DONATIONS AND LEGACIES**
|Donations
Grants
Grants received, included in the above, are as follows:
Keep Scotland Beautiful
Children in Need
Glasgow City Council
GCC Smarter choices, smarter places
Cycling Scotland
Youthlink
NHS grant
Provident Financial Group
South City Way Small grants
Scottish Power Energy
Other grants|2021
£
2,119
140,754
142,873
2021
£
52,188
(12,313)
10,000
31
-
-
-
-
3,680
87,168
-
140,754|2020
£
531
175,866|
|---|---|---|
|||176,397|
|||2020
£
-
30,120
-
66,467
28,007
5,000
4,516
4,500
11,320
25,137
799|
|||175,866|
continued...
Page 10
SoulRiders (SCIO)
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
|**3.**
**OTHER TRADING ACTIVITIES**
Sales and repair of bikes
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Rental income
Main charitable activities
**5.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Costs (see
note 6)
£
Main charitable activities
137,425
**6.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Trustees' remuneration etc
Staff costs
Other operating leases
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Bikes & accessories
Cleaning
Travel & subsistence
Training
Computer expenses
Repairs
Sessional Workers
Subscriptions
Project expenses
Recruitment expenses
Entertainment - staff
Depreciation|Grant
funding of
activities
£
1,000|2021
£
5,867
2021
£
-
Support
costs (see
note 7)
£
3,384
2021
£
59,740
5,868
21,480
592
1,450
1,804
160
1,104
2,426
5,887
2,160
27
102
6,189
1,392
11,049
288
4,100
900
215
10,492
137,425|2020
£
18,009
2020
£
700
Totals
£
141,809|2020
£
18,009|
|---|---|---|---|---|
||||2020
£
53,454
4,788
21,480
351
2,000
2,089
35
1,515
2,821
11,394
1,248
1,174
541
1,433
440
10,653
368
4,621
-
-
6,855||
||||127,260||
continued...
Page 11
SoulRiders (SCIO)
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **7. SUPPORT COSTS**
|**SUPPORT COSTS**||
|---|---|
||Governance|
||costs|
||£|
|Main charitable activities|3,384|
Support costs, included in the above, are as follows:
## **Governance costs**
## **8.**
|**Governance costs**|||
|---|---|---|
||2021|2020|
||Main||
||charitable|Total|
||activities|activities|
||£|£|
|Independent examination fees|2,520|2,340|
|Payroll service expense|864|864|
||3,384|3,204|
|**TRUSTEES' REMUNERATION AND BENEFITS**|||
||2021|2020|
||£|£|
|Trustees' salaries|57,076|50,637|
|Trustees' social security|2,664|2,817|
||59,740|53,454|
No trustees were remunerated for their services as trustees. received remuneration for his role as Chief Executive Officer, allowable per the charity's Constitution as it is deemed by the Trustees to be in direct furtherance of the organisation's charitable purposes.
## **Trustees' expenses**
One trustee received reimbursement of expenses incurred for travel, telephone and sundry expenditure totalling £424 (2020 - one trustee, £984).
## **9. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Trustee
Staff|2021
1
1
2|2020
1
1|
|---|---|---|
|||2|
No employees received emoluments in excess of £60,000.
continued...
Page 12
## SoulRiders (SCIO)
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
|**10.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
fund
funds
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
56,965
119,432
**Charitable activities**
Main charitable activities
700
-
Other trading activities
18,009
-
**Total**
75,674
119,432
**EXPENDITURE ON**
**Charitable activities**
Main charitable activities
49,023
81,441
**NET INCOME**
26,651
37,991
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
(10,629)
19,063
**TOTAL FUNDS CARRIED FORWARD**
16,022
57,054
**11.**
**TANGIBLE FIXED ASSETS**
Improvements
Fixtures
to
Plant and
and
Computer
property
machinery
fittings
equipment
£
£
£
£
**COST**
At 1 April 2020
12,889
6,676
1,221
9,204
Additions
21,183
-
4,200
6,797
Disposals
-
-
-
(849)
At 31 March 2021
34,072
6,676
5,421
15,152
**DEPRECIATION**
At 1 April 2020
10,688
6,537
1,198
5,408
Charge for year
6,436
134
1,071
2,850
Eliminated on disposal
-
-
-
(212)
At 31 March 2021
17,124
6,671
2,269
8,046
**NET BOOK VALUE**
At 31 March 2021
16,948
5
3,152
7,106
At 31 March 2020
2,201
139
23
3,796|Total
funds
£
176,397
700
18,009|
|---|---|
||195,106
130,464|
||64,642
8,434|
||73,076|
||Totals
£
29,990
32,180
(849)
61,321
23,831
10,491
(212)
34,110
27,211
6,159|
continued...
Page 13
SoulRiders (SCIO)
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Prepayments and accrued income
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Taxation and social security
Other creditors|2021
£
57,251
2021
£
4,758
13,255
18,013|2020
£
57,384|
|---|---|---|
|||2020
£
7,730
9,130|
|||16,860|
## **14. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
|Within one year
Between one and five years|2021
£
21,000
22,750
43,750|2020
£
21,000
43,750|
|---|---|---|
|||64,750|
|**15.**|**ANALYSIS OF NET ASSETS BETWEEN**|**FUNDS**||||
|---|---|---|---|---|---|
|||||2021|2020|
|||Unrestricted|Restricted|Total|Total|
|||fund|funds|funds|funds|
|||£|£|£|£|
||Fixed assets|25,206|2,005|27,211|6,159|
||Current assets|30,365|40,656|71,021|83,777|
||Current liabilities|(18,012)|(1)|(18,013)|(16,860)|
|||37,559|42,660|80,219|73,076|
|**16.**|**MOVEMENT IN FUNDS**|||||
||||Net|Transfers||
||||movement|between|At|
|||At 1.4.20|in funds|funds|31.3.21|
|||£|£|£|£|
||**Unrestricted funds**|||||
||General fund|16,022|(30,514)|52,051|37,559|
||**Restricted funds**|||||
||Children in Need|26,889|(12,445)|-|14,444|
||Climate Challenge Fund - Keep Scotland|||||
||Beautiful|-|848|-|848|
||Revolutionize project fund|10,158|49,254|(32,044)|27,368|
||'LifeCycle - SoulSisters' project fund|5,250|-|(5,250)|-|
||Cycle friendly employer development fund|14,757|-|(14,757)|-|
|||57,054|37,657|(52,051)|42,660|
||**TOTAL FUNDS**|73,076|7,143|-|80,219|
continued...
Page 14
SoulRiders (SCIO)
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **16. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Children in Need
Climate Challenge Fund - Keep Scotland
Beautiful
Revolutionize project fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Children in Need
Revolutionize project fund
'LifeCycle - SoulSisters' project fund
Cycle friendly employer development fund
**TOTAL FUNDS**|Incoming
resources
£
15,034
(12,313)
52,187
94,044
133,918
148,952
At 1.4.19
£
(10,629)
19,063
-
-
-
19,063
8,434|Resources
Movement
expended
in funds
£
£
(45,548)
(30,514)
(132)
(12,445)
(51,339)
848
(44,790)
49,254
(96,261)
37,657
(141,809)
7,143
Net
movement
At
in funds
31.3.20
£
£
26,651
16,022
7,826
26,889
10,158
10,158
5,250
5,250
14,757
14,757
37,991
57,054
64,642
73,076|
|---|---|---|
Page 15
continued...
SoulRiders (SCIO)
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **16. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Children in Need
CashBack for Communities Youth Work
fund
Revolutionize project fund
Funride project fund
'LifeCycle - SoulSisters' project fund
Cycle friendly employer development fund
**TOTAL FUNDS**|Incoming
resources
£
75,674
30,121
5,000
51,804
4,500
13,250
14,757
119,432
195,106|Resources
Movement
expended
in funds
£
£
(49,023)
26,651
(22,295)
7,826
(5,000)
-
(41,646)
10,158
(4,500)
-
(8,000)
5,250
-
14,757
(81,441)
37,991
(130,464)
64,642|Resources
Movement
expended
in funds
£
£
(49,023)
26,651
(22,295)
7,826
(5,000)
-
(41,646)
10,158
(4,500)
-
(8,000)
5,250
-
14,757
(81,441)
37,991
(130,464)
64,642|
|---|---|---|---|
||||37,991|
||||64,642|
A current year 12 months and prior year 12 months combined position is as follows:
|||Net|Transfers||
|---|---|---|---|---|
|||movement|between|At|
||At 1.4.19|in funds|funds|31.3.21|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|(10,629)|(3,863)|52,051|37,559|
|**Restricted funds**|||||
|Children in Need|19,063|(4,619)|-|14,444|
|Climate Challenge Fund - Keep Scotland|||||
|Beautiful|-|848|-|848|
|Revolutionize project fund|-|59,412|(32,044)|27,368|
|'LifeCycle - SoulSisters' project fund|-|5,250|(5,250)|-|
|Cycle friendly employer development fund|-|14,757|(14,757)|-|
||19,063|75,648|(52,051)|42,660|
|**TOTAL FUNDS**|8,434|71,785|-|80,219|
Page 16
continued...
SoulRiders (SCIO)
## Notes to the Financial Statements - continued
## for the Year Ended 31 March 2021
## **16. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Children in Need
Climate Challenge Fund - Keep Scotland
Beautiful
CashBack for Communities Youth Work
fund
Revolutionize project fund
Funride project fund
'LifeCycle - SoulSisters' project fund
Cycle friendly employer development fund
**TOTAL FUNDS**|Incoming
resources
£
90,708
17,808
52,187
5,000
145,848
4,500
13,250
14,757
253,350
344,058|Resources
Movement
expended
in funds
£
£
(94,571)
(3,863)
(22,427)
(4,619)
(51,339)
848
(5,000)
-
(86,436)
59,412
(4,500)
-
(8,000)
5,250
-
14,757
(177,702)
75,648
(272,273)
71,785|
|---|---|---|
## **Unrestricted**
General Fund - income and expenditure relating to the primary activities of the charity.
## **Restricted Funds**
## **Children in Need fund**
The restricted funds received from Children in Need are held for the purposes of delivering the Soulkidz project. The projects aims to empower BME young people through cycling sessions and training workshops which will increase self-esteem, physical health and sense of belonging in the community.
## **Climate Challenge fund**
This restricted fund receives income from the Keep Scotland Beautiful initiative for an eco-friendly project which is allocated against specific expenditure claimed and approved by the fund.
## **Cashback for communities Youth Work fund**
Income is received and expenditure incurred from this fund for the purpose of delivering 24 activity programme sessions for the SoulKidz project.
## **Revolutionize project fund**
Income received and expenditure incurred within this restricted fund is for the purpose of delivering the charity's Revolutionize project. Revolutionize will create Scotland's first integrated cargo bike delivery and waste service.
## **FunRide project fund**
This fund holds restricted income for the 'FunRide' project, which aims to improve physical and mental health in adults around the Pollokshields area, specifically but not exclusively for people from Ethnic Minority Backgrounds.
## **Cycle Friendly Employer Development fund**
Funds within this restricted fund are received and held to be utilised by the charity in achieving its Cycle Friendly Employer award, and its aim to have 100% of its workforce travelling by bike.This funding was fully utilised and the project ended during the year to 31 March 2021, with the balance at this date being transferred to the general fund.
continued...
Page 17
SoulRiders (SCIO)
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **16. MOVEMENT IN FUNDS - continued**
## **'LifeCycle - SoulSisters' project fund**
This restricted fund holds a balance for the use of the project which will look to encourage cycling amongst BME people focused on SoulSisters, our project which is for Ethnic Minority women.This funding was fully utilised and the project ended during the year to 31 March 2021, with the balance at this date being transferred to the general fund.
## **Transfers between funds**
During the year to 31 March 2021, both the 'LifeCycle - SoulSisters' project fund and the Cycle Friendly Employer Development fund projects were completed, and the balances remaining as at 31 March 2021 of £14,757 in the SoulSisters fund and £5,250 in the Employer Development fund were transferred to the general fund to meet expenses within and to close the funds.
The Revolutionize fund received its final grant income within the year to 31 March 2021. During the year, the specific expenses for which grants were claimed were re-profiled a number of times due to Covid-19 issues. The balance transferred to the general fund of £32,044 is to meet expenses within the general fund that were to be paid from the re-profiled grants of the charity. As at 31 March 2021, the final balance on the Revolutionize fund reflected the grant received for one capital item still to be purchased as at the year end of £25,495, and the net book value of the assets in the fund to be depreciated fully over the next 2 years of £1,873. The remaining balance within the fund above this expenditure is the transfer made to the general fund expenses.
## **17. EMPLOYEE BENEFIT OBLIGATIONS**
The charity operates a defined contribution pension scheme. Contributions payable to the pension scheme are charged to the statement of financial activities in the period to which they relate. Contributions accrued at 31 March 2021 were £nil (2020 - £nil).
## **18. RELATED PARTY DISCLOSURES**
Other than Trustees expenses disclosed in note 8 of the financial statements, there were no related party transactions during the year to 31 March 2020 or 2021.
No donations were made to the Charity by Trustees during the year (2020 - £nil).
Page 18