BRISTOL BIKE PROJECT CIC

Company limited by guarantee

Company Registration Number:
07578755 (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

BRISTOL BIKE PROJECT CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

BRISTOL BIKE PROJECT CIC

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 290,645 290,978
Total fixed assets: 290,645 290,978
Current assets
Stocks: 4 23,795 27,207
Debtors: 5 5,354 4,662
Cash at bank and in hand: 44,261 60,197
Total current assets: 73,410 92,066
Creditors: amounts falling due within one year: 6 ( 14,542 ) ( 10,662 )
Net current assets (liabilities): 58,868 81,404
Total assets less current liabilities: 349,513 372,382
Total net assets (liabilities): 349,513 372,382
Members' funds
Profit and loss account: 349,513 372,382
Total members' funds: 349,513 372,382

The notes form part of these financial statements

BRISTOL BIKE PROJECT CIC

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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 26 November 2024
and signed on behalf of the board by:

Name: Ms Grainne Canavan
Status: Director

The notes form part of these financial statements

BRISTOL BIKE PROJECT CIC

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.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Freehold - Revaluation policy Computer Equipment - 33% Reducing balance

BRISTOL BIKE PROJECT CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 10 9

BRISTOL BIKE PROJECT CIC

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 289,970 3,165 293,135
Additions
Disposals
Revaluations
Transfers
At 31 March 2024 289,970 3,165 293,135
Depreciation
At 1 April 2023 2,157 2,157
Charge for year 333 333
On disposals
Other adjustments
At 31 March 2024 2,490 2,490
Net book value
At 31 March 2024 289,970 675 290,645
At 31 March 2023 289,970 1,008 290,978

BRISTOL BIKE PROJECT CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Stocks

2024 2023
£ £
Stocks 23,795 27,207
Total 23,795 27,207

BRISTOL BIKE PROJECT CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Debtors

2024 2023
£ £
Trade debtors 1,037 1,402
Prepayments and accrued income 4,316 3,259
Other debtors 1 1
Total 5,354 4,662

BRISTOL BIKE PROJECT CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 1,496 4,766
Taxation and social security 7,455 5,273
Accruals and deferred income 5,300 300
Other creditors 291 323
Total 14,542 10,662

COMMUNITY INTEREST ANNUAL REPORT

BRISTOL BIKE PROJECT CIC

Company Number: 07578755 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

PART 1 - GENERAL DESCRIPTION OF THE COMPANY’S ACTIVITIES AND IMPACT In the space provided below, please insert a general account of the company’s activities in the financial year to which the report relates, including a fair and accurate description of how they have benefited the community, or section of the community, which the company is intended to serve. We continue to be Bristol's most comprehensive Community Bike Project, repairing and rehoming unwanted bicycles. We aim to help people from all walks of life to get out on two wheels, and for it to be an inclusive and empowering experience. 2023-24 was a challenging year. Having only just stabilised after the disruption of the COVID-19 pandemic, we faced high inflation and the associated cost-of-living crisis. Costs increased significanty and for some months were were unable to increase trading income enough to compensate, leading to a loss of more than £20,000 for the year. Fortunately reserves were sufficient to meet our obligations and we have put measures in place to return to profitability. At the same time, all of our community programmes were operating at full capacity, enabling us to acheive the following: - Provided refurbished bikes free of charge to people who really need them through our Earn-A-Bike programmes, giving out 258 bikes in 2023-2024, and at the same time helping recipients to develop basic mechanic skills. By the end of 2023-24 we had helped nearly 3,000 people to become independently mobile since 2008 through Earn-A-Bike. - Carried out more than 500 free repairs for people who had already received bikes through our programmes, or would be eligible for them. - Continued to service the fleet of all-ability bikes at the Bristol Cycling Centre, supporting cycling to be more accessible. - Benefitted from generous donations of more than 700 bikes which we could refurbish and rehome, diverting them from landfill. - Continued to offer volunteering opportunities, skilling people up in bicycle mechanics, and at the same time benefitting from the generosity and enthusiam of our volunteers. During 2023-24 our volunteers gave over 5,000 hours to The Project. - Provided a safe, non-judgemental workshop space that is co-operatively run and inclusive. - Enabled 465 young people to maintain their own bikes and develop their mechanic skills at our After School Bikes workshops. - Re-established our Social Cycle programme for adults at risk of social isolation, which was the last community programme to re-start after the pandemic.

Consultation with stakeholders

The company’s stakeholders are paying and non-paying project-users, volunteers, paid staff, directors, co-op members, members of our local community and partner/referral organsiations. All of these groups are encouraged to participate in The Project’s running – both strategically and operationally. We held four co-op general meetings and one AGM during the year, which were all well-attended. These allowed stakeholders to air their views and make decisions on strategic matters. These meetings were held in person, although we have introduced the option to attend online as a means of opening up access as widely as possible. Additionally, operational meetings and regular meetings of various working groups were held to manage day to day issues. The following working groups met throughout the year: Representation and diversity Premises Finance Sustainable income We are in continuous dialogue with our service users during community workshop sessions and through follow-up surveys. One impotant change made on the basis of this dialogue in 2023-24 was the widening of eligibility criteria for our adult programmes to anyone unemplyed for six months or longer, irrespective of the reason.

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
26 November 2024

And signed on behalf of the board by:
Name: Ms Grainne Canavan
Status: Director