REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 July 2024 |
for |
Just Cycle Ltd |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 July 2024 |
for |
Just Cycle Ltd |
Just Cycle Ltd |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Report of the Trustees | 1 | to | 5 |
Independent Examiner's Report | 6 |
Statement of Financial Activities | 7 |
Balance Sheet | 8 | to | 9 |
Notes to the Financial Statements | 10 | to | 18 |
Just Cycle Ltd (Registered number: SC511792) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2024. 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 |
Just Cycle continues to pursue our charitable aims through the; |
o Advancement of education |
o The promotion of active travel, fitness and wellbeing through cycling |
o The advancement of environmental protection and improvements |
o Reduce poverty and inequality |
The company's charitable objectives are; |
o To advance education by providing opportunities for learning through bicycle maintenance and workshops. |
o To encourage and promote active travel by linking in with other organisations and groups. |
o To offer opportunities for skills development by linking in with local Job centres and people who may be considered farthest from the labour market. |
o To advance environmental protection or improvement by recovering bicycles from the waste stream, reducing the waste sent to landfill and by raising awareness of reuse and recycling locally. |
o Reducing poverty and inequality by encouraging strong intergenerational relationships locally by involving all sectors of the community in the recycling work and encouraging cycling through affordable pricing across all sectors of the community including those socially disadvantaged and isolated. |
Just Cycle Ltd (Registered number: SC511792) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
OBJECTIVES AND ACTIVITIES |
Significant activities |
During the period 1st August 2023 to 31st July 2024, we have continued to be successful in reducing the number of bicycles going to landfill, working in partnership with SBC waste management team and Scottish Borders Payback Justice team, we continue collecting bikes from the CRC sites across the Borders as-well as the continuation of public donations. |
Our collaboration with the Bikes for Africa continues, and we continue to strip unrepairable bikes for donor parts. |
The ongoing support from Cycling UK has allowed us to continue supporting Access to Bikes, for people who otherwise could not afford one, thus reducing poverty and inequality. Just Cycle has been fortunate to benefit from two lots of Access to Bikes funding allowing us to support other bicycle projects in the Borders including Greener Duns and Sea the Change in Eyemouth. |
Just Cycle was able to support A Positive Start CIC in Hawick who received Cycling Scotland funding for a project 'Cycling for mental health and wellbeing', providing 10 recycled serviced bikes with accessories back in November 2023, further supporting those who may be socially disadvantaged and isolated and transported to Hawick by Just Cycle volunteers. |
Following the closure of Halfords in Galashiels, Just Cycle benefited from donations of bike stands, inner tubes and spare parts, donated by members of the Halfords management team. |
Just Cycle secured a service agreement with NHS Borders, servicing the recycled bikes onsite that were provided by Just Cycle in the previous year. |
Just Cycle sponsored the local Tweedbank Fair again this year, donating £100 towards marketing and promotion. We continued to work with Tweedbank Primary, supporting the teachers to support their students. |
We provided several purpose-built bikes for The Border Raiders Speedway team, sponsoring an event in June 2024 - The Just Cycle Race. We were present to hand out trophies and certificates at this grassroot event organised by Trevor Bryant and his cycle speedway team. |
Just Cycle was awarded £15000 of funding by The National Lottery Community Fund towards the Recycle - Just Cycle project, allowing us to recycle and rehome more unwanted bicycles within our community. |
June 1st saw the retirement of our workshop manager Grant Martin, who has supported Just Cycle in various roles since its inception. Grant continues to be missed. |
Maurizio Carlino-Rackett re-joined the Just Cycle family in June as Operations Manager, bringing with him fresh ideas to take Just Cycle forward - the future looks bright. |
Just Cycle Ltd (Registered number: SC511792) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
OBJECTIVES AND ACTIVITIES |
Volunteers |
Volunteers are the backbone of our organisation, playing a pivotal role in supporting the delivery of our projects and services. Their dedication, skills, and time enable us to meet our goals and make a significant difference in the borders communities we serve. This year, we saw an increased engagement of volunteers who have contributed across various functions including workshop operations, administrative tasks, and community outreach. Their invaluable contributions allow us to continue to grow and strengthen our impact. |
Just Cycle continues to benefit from the commitment of 9 Volunteers, with new volunteer Peter taking up a place of Steve who resigned in May to pursue other creative interests. As has been the case since inception, all staff members have continued to volunteer hours in addition to their paid employment for the betterment of the charity, including collecting and delivering bikes and collecting a trike from the Midlands for a disabled just cycle customer. |
Just Cycle hosted several guests over the year including Matt Lewis from Circular Communities who visited on the 1st August, and MSP Patrick Harvey visited Just Cycle in January 2024 for a tour of the project in an event organised by Cycling UK. Mr Harvey later stated to the press how impressed he was the Just Cycle project. During the visit Just Cycle Mechanic Grant Martin handed over a recycled mountain bike to lucky recipient; Andrew from Hawick, benefitting from the Access to Bicycles funding awarded to Just Cycle by Cycling UK. |
The Just Cycle team held stalls and showcased recycled bikes throughout the year, starting with the Live Borders community event in Peebles in August 2023, attended by staff and volunteers in support of the UCI cycling world championships. Just Cycle provided the bicycle wheels for the displays around the Borders. |
In January 2024, Just Cycle mechanic Grant Humble provided support in Selkirk at two events delivered by Cycling UK and Sustainable Selkirk, servicing and repairing bikes in the town. |
FINANCIAL REVIEW |
Financial position |
The year to 31st July 2024 was a deficit of £15,624 (2023 surplus - £2,107). This brings the total available reserves carried forward to £53,306 compared with last years £67,596. |
Reserves policy |
The trustees consider holding reserves to cover 6 months of outgoings to be a sensible decision to ensure Just Cycle can meet their financial commitments. |
Going concern |
The trustees know of no material uncertainties relating to the charity's ability to continue as a going concern. |
FUTURE PLANS |
Just Cycle continues to develop its potential for achieving greater income from the sale of recycled bicycles, parts and through servicing. |
New collaborations and partnerships are beginning to develop as we reach the end of the financial year, with lots of new exciting opportunities and funding agreed for the next stage of Just Cycles journey. |
As the Just Cycle project progresses into its tenth year, an Operations Manager and Office Administrator will take the baton, replacing the current management structure. |
We would like to take the opportunity to thank Grant Humble who retired in August 2024 and Deborah Crozier who moved on from Just Cycle at the end of September 2024 for all their hard work over the years. Grant as indomitable workshop keeper, ensuring tools and bikes were always in optimum condition. Deborah as multi-tasking project manager, securing funds and representing Just Cycle at all levels while maintaining a positive presence at the shopfront. |
Just Cycle Ltd (Registered number: SC511792) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its Memorandum and Articles and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
Just Cycle has strength in Alan Mordue as Chair and Volunteer Mechanic who is on site weekly supporting the Just Cycle team. The trustees remain in contact through email, a WhatsApp group and bi-annually meetings, headed by Alan who remains in regular contact with the management team, ensuring policies and procedures that are in place are followed. |
The next 12 months look to be an exciting year for Just Cycle as it enters its 10th year. |
Just Cycle advertises roles both on our Facebook page (in the News section of Border Bikes Hub), and with Changing the Chemistry, an organisation that helps recruit Board Members. So far, recruitment has come about through word of mouth. |
Organisational structure |
Our organisational structure is designed to ensure effective leadership, operational efficiency, and accountability. At the top of the structure is the Board of Trustees, led by the Chair Dr Alan Mordue, who provides governance oversight and strategic direction. The board meets regularly to review performance and ensure the organisation's mission is being delivered effectively. |
Board of Trustees |
The Board of Trustees consists of individuals with diverse expertise who oversee the overall governance of the charity. Led by the Chair Alan, the board ensures that the charity operates in a way that upholds its values, meets its objectives, and remains compliant with relevant regulations. The trustees meet on a bi-annually basis to review operational performance, financial stability, and risk management. Dr. Mordue, along with trustee Stewart who lives locally in Tweedbank provide regular support to the team as volunteer mechanics. |
Project Manager |
The Project Manager is responsible for overseeing the day-to-day operations of the organisation. They ensure that the projects and services are delivered efficiently and in line with our strategic objectives. The Project Manager works closely with staff and volunteers to monitor progress, manage resources, and ensure that all operational targets are met. |
Workshop Manager |
The Workshop Manager oversees the maintenance of bicycles and the delivery of technical services. Their role is critical in ensuring that all equipment is maintained to the highest standards and that health and safety protocols are adhered to. The Workshop Manager also provides training and guidance to volunteers, students and staff working in the workshop to ensure consistent quality and safety. |
Decision making |
The organisation has established clear decision-making processes to ensure transparency and accountability. Strategic decisions are made by the Board of Trustees, with input from key staff and volunteers. Operational decisions are delegated to the Project Manager, who works in consultation with relevant teams. We also have a robust Risk Management Policy in place, which includes regular risk assessments and mitigation strategies to address potential challenges. This policy is overseen by the Board of Trustees, ensuring that all major risks are identified, monitored, and managed appropriately. |
Key management remuneration |
The Board takes advice from HR Services Scotland Limited regarding key management remuneration and all other staffing policy to ensure we meet legal requirements. |
Just Cycle Ltd (Registered number: SC511792) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
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. |
We now have a Project Manager in place, a workshop manager and a qualified Workshop Supervisor who liaise regularly with the Board ensuring policies and procedures are in place and are followed. |
We continue to seek advice from other organisations, including CRNS of which we are a member, as well as other third sector organisations, facilitated by Scottish Enterprise Chamber based in St Boswells, which we are also a member of. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
Gall Robertson CA |
Tweedside Park |
Tweedbank |
Galashiels |
Selkirkshire |
TD1 3TE |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Just Cycle Ltd |
I report on the accounts for the year ended 31 July 2024 set out on pages seven 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. |
Pamela Baillie |
The Institute of Chartered Accountants of Scotland |
Gall Robertson CA |
Tweedside Park |
Tweedbank |
Galashiels |
Selkirkshire |
TD1 3TE |
4 November 2024 |
Just Cycle Ltd |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31 July 2024 |
31.7.24 | 31.7.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 3 |
Total |
EXPENDITURE ON |
Charitable activities | 4 |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 70,854 |
Just Cycle Ltd (Registered number: SC511792) |
Balance Sheet |
31 July 2024 |
31.7.24 | 31.7.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 11 |
Tangible assets | 12 |
CURRENT ASSETS |
Stocks | 13 |
Debtors | 14 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 15 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
ACCRUALS AND DEFERRED INCOME | 16 | ( |
) | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 17 |
Unrestricted funds | 70,854 |
TOTAL FUNDS | 70,854 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Just Cycle Ltd (Registered number: SC511792) |
Balance Sheet - continued |
31 July 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Just Cycle Ltd |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, 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' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Going Concern |
The directors have assessed a period of 12 months from the date of approval of the financial statements and consider that no material uncertainties exist that cast significant doubt about the ability of the company to continue as a going concern. Thus the directors adopt the going concern basis of accounting in preparing the financial statements. |
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. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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 resources. |
Intangible assets |
Website asset is initially measured at cost. After initial recognition, the assets are measured at cost less any accumulated amortisation and any impairment losses. Amortisation is charged evenly over its estimated useful life - being four years. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. |
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss. |
Impairment |
Just Cycle Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
1. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation 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. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
Donated goods and services |
Donated goods are received in the form of recycled and unwanted bikes. Bikes are held in stock at the lower of cost and net realisable value. |
The charity has also benefited from volunteers throughout the year to run the store. |
Provisions |
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. |
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises. |
Just Cycle Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
2. | DONATIONS AND LEGACIES |
31.7.24 | 31.7.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Donations | 125 | - |
Grants | 19,317 | - |
19,442 | - |
Grants received, included in the above, are as follows: |
31.7.24 | 31.7.23 |
£ | £ |
Other grants | 19,317 | 34,366 |
3. | INCOME FROM CHARITABLE ACTIVITIES |
31.7.24 | 31.7.23 |
Activity | £ | £ |
Shop income | General activities | 34,596 | 34,675 |
4. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 5) | Totals |
£ | £ | £ |
General activities | 67,433 | 2,535 | 69,968 |
5. | SUPPORT COSTS |
Governance |
costs |
£ |
General activities | 2,535 |
6. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.7.24 | 31.7.23 |
£ | £ |
Depreciation - owned assets |
Computer software amortisation |
Just Cycle Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
7. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023. |
8. | STAFF COSTS |
The Key Management Personnel of the charity were paid £26,514 during the year (2023 £23,160). |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 68,747 | - |
TOTAL FUNDS CARRIED FORWARD | 70,854 | - | 70,854 |
Just Cycle Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
10. | INDEPENDENT EXAMINER FEES |
Gall Robertson CA charged the charity the sum of £1,391 (2023 - £978) during the year for accounts preparation & independent examination. The charity payroll is outsourced to the same organisation and the fee for the period was £731 (2023 - £801). |
11. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
At 1 August 2023 and 31 July 2024 |
AMORTISATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
12. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2023 and 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Just Cycle Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
13. | STOCKS |
31.7.24 | 31.7.23 |
£ | £ |
Stocks |
14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade creditors |
Social security and other taxes |
Accrued expenses |
16. | ACCRUALS AND DEFERRED INCOME |
31.7.24 | 31.7.23 |
£ | £ |
Accruals and deferred income | 902 | 596 |
17. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.8.23 | in funds | 31.7.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 70,233 | (15,778 | ) | 54,455 |
Awards for All | 347 | (84 | ) | 263 |
Cycling Scotland | 274 | (68 | ) | 206 |
(15,930 | ) |
TOTAL FUNDS | (15,930 | ) | 54,924 |
Just Cycle Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
17. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 54,039 | (69,817 | ) | (15,778 | ) |
Awards for All | (1 | ) | (83 | ) | (84 | ) |
Cycling Scotland | - | (68 | ) | (68 | ) |
( |
) | (15,930 | ) |
TOTAL FUNDS | ( |
) | (15,930 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.8.22 | in funds | 31.7.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 67,925 | 2,308 | 70,233 |
Awards for All | 457 | (110 | ) | 347 |
Cycling Scotland | 365 | (91 | ) | 274 |
68,747 | 2,107 | 70,854 |
TOTAL FUNDS | 68,747 | 2,107 | 70,854 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 67,221 | (64,913 | ) | 2,308 |
Awards for All | - | (110 | ) | (110 | ) |
Cycling Scotland | - | (91 | ) | (91 | ) |
67,221 | (65,114 | ) | 2,107 |
Restricted funds |
Cycling UK | 2,320 | (2,320 | ) | - |
TOTAL FUNDS | 69,541 | (67,434 | ) | 2,107 |
Just Cycle Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
17. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.8.22 | in funds | 31.7.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 67,925 | (13,470 | ) | 54,455 |
Awards for All | 457 | (194 | ) | 263 |
Cycling Scotland | 365 | (159 | ) | 206 |
68,747 | (13,823 | ) | 54,924 |
TOTAL FUNDS | 68,747 | (13,823 | ) | 54,924 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 121,260 | (134,730 | ) | (13,470 | ) |
Awards for All | (1 | ) | (193 | ) | (194 | ) |
Cycling Scotland | - | (159 | ) | (159 | ) |
121,259 | (135,082 | ) | (13,823 | ) |
Restricted funds |
Cycling UK | 2,320 | (2,320 | ) | - |
TOTAL FUNDS | 123,579 | (137,402 | ) | (13,823 | ) |
18. | EMPLOYEE BENEFIT OBLIGATIONS |
The charitable company operates a defined contribution pension scheme. The total amount recognised in the SOFA for the period was £739 (2022 - £630). |
Just Cycle Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
19. | OTHER FINANCIAL COMMITMENTS |
As at the balance sheet date, the commitments outstanding on non-cancellable leases totals £2,588 (2022 - £2,597). |
20. | RELATED PARTY DISCLOSURES |
21. | PUBLIC BENEFIT ENTITY |
The charity is a public benefit entity. |
22. | AVERAGE NUMBER OF EMPLOYEES |
The average number of employees during the year was 3 (2023 - 3). |
23. | VOLUNTEERS |
Just Cycle are fortunate to have the support of 9 regular volunteers who assist in the workshop, restoring and servicing bikes. Just Cycle would not prosper without their continued support and we are incredibly grateful for the time and energy that they provide. |
We also have irregular volunteers supporting our cause, often trainees who attend the workshop on placements to learn new skills and support the charity. |