GLOUCESTERSHIRE BIKE PROJECT C.I.C.

Company limited by guarantee

Company Registration Number:
07626603 (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

GLOUCESTERSHIRE BIKE PROJECT C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

GLOUCESTERSHIRE BIKE PROJECT 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

Principal activities of the company

Principal activities Principal activity of the company during the financial year was of retail sale of sports goods, bicycles and cycle accessories



Directors

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

Maureen Parker
Matthew Herron


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
2 January 2025

And signed on behalf of the board by:
Name: Maureen Parker
Status: Director

GLOUCESTERSHIRE BIKE PROJECT C.I.C.

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 363,741 353,984
Cost of sales: ( 231,177 ) ( 239,779 )
Gross profit(or loss): 132,564 114,205
Administrative expenses: ( 134,135 ) ( 137,470 )
Operating profit(or loss): (1,571) (23,265)
Interest payable and similar charges: ( 4,858 ) ( 4,974 )
Profit(or loss) before tax: (6,429) (28,239)
Profit(or loss) for the financial year: (6,429) (28,239)

GLOUCESTERSHIRE BIKE PROJECT C.I.C.

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 74,216 74,951
Total fixed assets: 74,216 74,951
Current assets
Stocks: 4 21,500 19,500
Debtors: 5 5,151
Cash at bank and in hand: 135,284 166,034
Total current assets: 161,935 185,534
Creditors: amounts falling due within one year: 6 ( 22,998 ) ( 25,601 )
Net current assets (liabilities): 138,937 159,933
Total assets less current liabilities: 213,153 234,884
Creditors: amounts falling due after more than one year: 7 ( 28,148 ) ( 43,450 )
Total net assets (liabilities): 185,005 191,434
Members' funds
Profit and loss account: 185,005 191,434
Total members' funds: 185,005 191,434

The notes form part of these financial statements

GLOUCESTERSHIRE BIKE PROJECT 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 2 January 2025
and signed on behalf of the board by:

Name: Maureen Parker
Status: Director

The notes form part of these financial statements

GLOUCESTERSHIRE BIKE PROJECT 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 Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts

    Tangible fixed assets depreciation policy

    Tangible fixed assets Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Land and Buildings Plant and Machinery Motor Vehicles Fixtures and Fittings Stocks 2% Straight Line 25% Straight Line 25% Straight Line 33% Straight Lin

GLOUCESTERSHIRE BIKE PROJECT 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 4 4

GLOUCESTERSHIRE BIKE PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 87,003 12,557 15,498 0 3,000 118,058
Additions 1,507 1,507
Disposals
Revaluations
Transfers
At 31 March 2024 87,003 12,557 17,005 0 3,000 119,565
Depreciation
At 1 April 2023 12,052 12,557 15,498 0 3,000 43,107
Charge for year 1,740 502 2,242
On disposals
Other adjustments
At 31 March 2024 13,792 12,557 16,000 0 3,000 45,349
Net book value
At 31 March 2024 73,211 0 1,005 0 0 74,216
At 31 March 2023 74,951 0 0 0 0 74,951

GLOUCESTERSHIRE BIKE PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Stocks

2024 2023
£ £
Stocks 21,500 19,500
Total 21,500 19,500

GLOUCESTERSHIRE BIKE PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Debtors

2024 2023
£ £
Other debtors 5,151
Total 5,151

GLOUCESTERSHIRE BIKE PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 17,464 19,051
Taxation and social security 1,614 2,664
Accruals and deferred income 3,674 3,193
Other creditors 246 693
Total 22,998 25,601

GLOUCESTERSHIRE BIKE PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 28,148 43,450
Total 28,148 43,450

GLOUCESTERSHIRE BIKE PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

8. Loans to directors

Name of director receiving advance or credit:
Description of the transaction:
Included within debtors as at the balance sheet date £5,151 (2023: £411 creditor) owed by the directors. This balance was repaid within 9 months. This balance is interest free.
£
Balance at 31 March 2023
Advances or credits made:
Advances or credits repaid:
Balance at 31 March 2024 0

COMMUNITY INTEREST ANNUAL REPORT

GLOUCESTERSHIRE BIKE PROJECT C.I.C.

Company Number: 07626603 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

In the year ended 31 March 2024, Gloucestershire Bike Project delivered over 150 free bike maintenance workshops, including donating approx 70 free bikes to young people to refurbish and keep them if they did not own a bike. In line with the company ethos, we sourced over 500 bikes that were not in used or destined for scrap and refurbished them and sold them at affordable cost in the community. We have offered a supported work experience programme to young people with mental health issues and other young people who were struggling in mainstream educational settings. Towards the end of the year, we set up a free bike loan scheme for people with mental health issues and run workshops in bike maintenance and repair for those to take part in this project. We also maintain a mini retro bike museum where people can come and view bikes from the 50s through to the 2020s.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

Directors Salaries were £88,000 in the year.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
2 January 2025

And signed on behalf of the board by:
Name: Maureen Parker
Status: Director