AVANTI CYCLING TRUST CIC

Company limited by guarantee

Company Registration Number:
11699988 (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

AVANTI CYCLING TRUST CIC

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

AVANTI CYCLING TRUST CIC

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

Principal activities of the company

The principal activity of the company in the year under review was that of other recreation activities.



Directors

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

G Woodford
C Hine


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
22 August 2024

And signed on behalf of the board by:
Name: G Woodford
Status: Director

AVANTI CYCLING TRUST CIC

Profit And Loss Account

for the Period Ended 30 November 2023

2023 2022


£

£
Turnover: 22,632 19,495
Cost of sales: ( 9,117 ) ( 13,025 )
Gross profit(or loss): 13,515 6,470
Administrative expenses: ( 14,253 ) ( 10,975 )
Other operating income: 0 5,000
Operating profit(or loss): (738) 495
Interest payable and similar charges: ( 5 ) 0
Profit(or loss) before tax: (743) 495
Tax: 192 ( 94 )
Profit(or loss) for the financial year: (551) 401

AVANTI CYCLING TRUST CIC

Balance sheet

As at 30 November 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 634 0
Cash at bank and in hand: 8,808 7,420
Total current assets: 9,442 7,420
Creditors: amounts falling due within one year: 4 ( 3,055 ) ( 482 )
Net current assets (liabilities): 6,387 6,938
Total assets less current liabilities: 6,387 6,938
Total net assets (liabilities): 6,387 6,938
Members' funds
Profit and loss account: 6,387 6,938
Total members' funds: 6,387 6,938

The notes form part of these financial statements

AVANTI CYCLING TRUST CIC

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 22 August 2024
and signed on behalf of the board by:

Name: G Woodford
Status: Director

The notes form part of these financial statements

AVANTI CYCLING TRUST CIC

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised for the provision of services as the contractual activity progresses.

    Other accounting policies

    Taxation Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

AVANTI CYCLING TRUST CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

AVANTI CYCLING TRUST CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Debtors

2023 2022
£ £
Trade debtors 540 0
Other debtors 94 0
Total 634 0

AVANTI CYCLING TRUST CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 0 192
Other creditors 3,055 290
Total 3,055 482

COMMUNITY INTEREST ANNUAL REPORT

AVANTI CYCLING TRUST CIC

Company Number: 11699988 (England and Wales)

Year Ending: 30 November 2023

Company activities and impact

We deliver annual Cycling Festivals for the people of Reading. The 2023 is a public facing festival. All free to the attendees. The Reading Cycling Festival. We run Community Cycling Clubs throughout Reading and Berkshire. Avanti Freewheelers. www.avantifreewheelers.cc The clubs are aimed at providing leisure (and training) activities to young people. It is an expanding area of our business. We are running community cycling clubs in Whitley, Southcote, Coley areas of Reading and looking to develop one in Bracknell. We run regular Dr Bike sessions and maintenance sessions for the people of Reading and the surrounding areas. These are all free.

Consultation with stakeholders

No consultation with stakeholders

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
22 August 2024

And signed on behalf of the board by:
Name: Greg Woodford
Status: Director