THIGHS OF STEEL C.I.C.

Company limited by guarantee

Company Registration Number:
10690498 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

THIGHS OF STEEL C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

THIGHS OF STEEL C.I.C.

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

David Charles
Olivia Kasteel-Hare
Harriet Symes


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
23 August 2024

And signed on behalf of the board by:
Name: David Charles
Status: Director

THIGHS OF STEEL C.I.C.

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 64,099 67,482
Cost of sales: ( 27,290 ) ( 21,143 )
Gross profit(or loss): 36,809 46,339
Administrative expenses: ( 27,487 ) ( 46,339 )
Operating profit(or loss): 9,322 0
Profit(or loss) before tax: 9,322 0
Tax: ( 1,771 )
Profit(or loss) for the financial year: 7,551 0

THIGHS OF STEEL C.I.C.

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Current assets
Debtors:   0 0
Cash at bank and in hand: 29,785 70,136
Total current assets: 29,785 70,136
Prepayments and accrued income: 0 1,508
Net current assets (liabilities): 29,785 71,644
Total assets less current liabilities: 29,785 71,644
Provision for liabilities: ( 21,226 ) ( 105 )
Accruals and deferred income: ( 1,008 ) ( 71,539 )
Total net assets (liabilities): 7,551 0
Members' funds
Profit and loss account: 7,551 0
Total members' funds: 7,551 0

The notes form part of these financial statements

THIGHS OF STEEL C.I.C.

Balance sheet statements

For the year ending 31 March 2024 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 23 August 2024
and signed on behalf of the board by:

Name: David Charles
Status: Director

The notes form part of these financial statements

THIGHS OF STEEL C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 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 measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

THIGHS OF STEEL C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 3

COMMUNITY INTEREST ANNUAL REPORT

THIGHS OF STEEL C.I.C.

Company Number: 10690498 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

Thighs of Steel CIC organised cycle adventures, raising money for grassroots refugee projects in the year 2023 – 2024. In this year, 102 cyclists joined our main summer bike rides (8 week-long rides from Glasgow to Athens). The ways in which we have benefited the community are: - Creating cycle adventures that are accessible to a wide range of abilities and ages. - Promoting and encouraging healthy activities and lifestyles. The ride and training rides encourage people to use bicycles and therefore their bodies to travel, increasing health and fitness. - Promoting slow and more environmentally friendly modes of travel. - By providing a positive adventure, we give people an empowering and confidence building experience. - We also run London and Bristol cycle clubs where people can come together and meet other people in the community, which develops and enhances the benefits listed above.

Consultation with stakeholders

The company stakeholders are the participants in the bike rides, especially the core team members who lead the rides. We consult with them on the success of our activities by sending out a questionnaire at the end of the ride that they fill in anonymously online. For the core team ride leaders, we have a detailed debriefing process, including 1-1 phone calls with a director and also a group meet-up to gather feedback. From this feedback, we decided to pause our summer ride in 2024 so that we could develop a long term strategy for 2025 and beyond.

Directors' remuneration

The aggregate amount of wages paid to directors was £12,847. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: David Charles
Status: Director