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Company limited by guarantee

Company Registration Number:
07743026 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 1 December 2022

End date: 30 November 2023

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Contents of the Financial Statements

for the Period Ended 30 November 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

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Directors' report period ended 30 November 2023

The directors present their report with the financial statements of the company for the period ended 30 November 2023

Directors

The directors shown below have held office during the whole of the period from
1 December 2022 to 30 November 2023

Tim Guy
Lucy Hall
Robert Harber
Matt Lamb


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
9 August 2024

And signed on behalf of the board by:
Name: Robert Harber
Status: Director

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Profit And Loss Account

for the Period Ended 30 November 2023

2023 2022


£

£
Turnover: 306,752 280,334
Cost of sales: ( 112,404 ) ( 105,771 )
Gross profit(or loss): 194,348 174,563
Administrative expenses: ( 209,289 ) ( 185,655 )
Operating profit(or loss): (14,941) (11,092)
Profit(or loss) before tax: (14,941) (11,092)
Tax: 1,200
Profit(or loss) for the financial year: (14,941) (9,892)

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Balance sheet

As at 30 November 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 1,712 2,949
Total fixed assets: 1,712 2,949
Current assets
Stocks: 4 17,058 32,230
Debtors: 5 1,542
Cash at bank and in hand: 42,856 34,449
Total current assets: 59,914 68,221
Creditors: amounts falling due within one year: 6 ( 42,206 ) ( 36,809 )
Net current assets (liabilities): 17,708 31,412
Total assets less current liabilities: 19,420 34,361
Total net assets (liabilities): 19,420 34,361
Members' funds
Profit and loss account: 19,420 34,361
Total members' funds: 19,420 34,361

The notes form part of these financial statements

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Balance sheet statements

For the year ending 30 November 2023 the company was entitled to exemption under section 477 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 Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 9 August 2024
and signed on behalf of the board by:

Name: Robert Harber
Status: Director

The notes form part of these financial statements

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Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goofs and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value , of each asset on a straight-line or reducing balance basis over its expected useful life, as follows: Plant and machinery 25% reducing balance Fixtures and fittings 25% reducing balance Office Equipment 25% reducing balance Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

    Other accounting policies

    Stocks are stated at the lower of cost and estimated selling price less costs to sell, which equivalent to the net realisable value. Costs includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate. At each reporting date, an assessment is made for impairment, Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profits or loss. Reversals of impairment losses are also recognised in profit or loss. Trade and other creditors Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 9 8

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Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2022 5,408 16,059 2,569 24,036
Additions
Disposals ( 3,580 ) ( 3,516 ) ( 7,096 )
Revaluations
Transfers
At 30 November 2023 1,828 12,543 2,569 16,940
Depreciation
At 1 December 2022 5,104 13,955 2,028 21,087
Charge for year 29 407 136 572
On disposals ( 3,392 ) ( 3,039 ) ( 6,431 )
Other adjustments
At 30 November 2023 1,741 11,323 2,164 15,228
Net book value
At 30 November 2023 87 1,220 405 1,712
At 30 November 2022 304 2,104 541 2,949

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Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Stocks

2023 2022
£ £
Stocks 17,058 32,230
Total 17,058 32,230

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Notes to the Financial Statements

for the Period Ended 30 November 2023

5. Debtors

2023 2022
£ £
Trade debtors 342
Other debtors 1,200
Total   1,542

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Notes to the Financial Statements

for the Period Ended 30 November 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 7,512 13,589
Taxation and social security 10,038 6,327
Other creditors 24,656 16,893
Total 42,206 36,809

COMMUNITY INTEREST ANNUAL REPORT

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Company Number: 07743026 (England and Wales)

Year Ending: 30 November 2023

Company activities and impact

During the financial year to 30 November 2023 we have continued to run our projects helping benefit our community. We host 3 volunteer session each week running throughout the year. The session our popular with a wide range of people (retired, people suffering with mental health issues, unemployed looking to learn new skills and refuges), the sessions provide an opportunity for them to develop skills, socialise and work in a team. In exchange Bicycle Links offers the volunteers a safe environment, someone to talk to, lunch, and references for job applications; Delivered our Welcome wheels project getting bicycles out to refugees and alyssum seekers through funding, supplying a bicycles and safety package, this project is highly popular, it allows us to meet new members of the community, when the bicycles are collected but as we work closely with partner originations we have created great links across Norwich. Our cycle link project was renewed for another year, allowing beneficiaries from partner organisations to receive a discount voucher for a large discount on a bicycle and safety package, this has allowed people seeking employment away of accessing services that may have been to far to reach before, for a lot smaller cost than if they had tried to buy a new bicycle. Continued to recycle unwanted bicycles, refurbish them and sell them at a reasonable cost to people who need transport to get to jobs, college or university. This benefits the environment (recycling and reusing materials) as well as the local population (providing reliable second-hand bikes); We have also maintained our trading activities which underwrite and support all our social impact projects, aiming to keep our prices as fair priced as possible allowing as many people from the community to keep their bicycles running.

Consultation with stakeholders

The company stakeholders include our volunteers, local customers who use our shop, Public and voluntary sector organisations that refer people to our projects or request help or donations of items, and our staff The Directors have engaged in conferences and meetings of the local volunteering sector. also subscribing to social enterprise groups to learn how better to help the community. We now have regular chats with our volunteers to see how they might suggest we change the sessions to help them better. We also tried to have regular staff meetings to make sure that our working environment and any staff concerns were addressed. Regular consultations on any social projects with the partner originations help make sure they are running smoothly and benefitting the right people

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
23 August 2024

And signed on behalf of the board by:
Name: Robert Harber
Status: Director