RIDE FOR FREEDOM CIC

Company Registration Number:
13585131 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

RIDE FOR FREEDOM CIC

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

RIDE FOR FREEDOM CIC

Balance sheet

As at 31 December 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 7 8,486
Cash at bank and in hand: 1,711 11,774
Total current assets: 1,718 20,260
Creditors: amounts falling due within one year: 4 ( 16,071 ) ( 12,477 )
Net current assets (liabilities): (14,353) 7,783
Total assets less current liabilities: (14,353) 7,783
Total net assets (liabilities): (14,353) 7,783
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (14,453 ) 7,683
Total Shareholders' funds: ( 14,353 ) 7,783

The notes form part of these financial statements

RIDE FOR FREEDOM CIC

Balance sheet statements

For the year ending 31 December 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 7 February 2025
and signed on behalf of the board by:

Name: Gordon Miller
Status: Director

The notes form part of these financial statements

RIDE FOR FREEDOM CIC

Notes to the Financial Statements

for the Period Ended 31 December 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

    Revenue recognition Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Other accounting policies

    Going concern The financial statements have been prepared on a going concern basis. Tax The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade Debtors Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. Trade Creditors Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Share capital Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

RIDE FOR FREEDOM CIC

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 5 4

RIDE FOR FREEDOM CIC

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Debtors

2024 2023
£ £
Trade debtors 0 1,250
Other debtors 7 7,236
Total 7 8,486

RIDE FOR FREEDOM CIC

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 10,177 10,718
Trade creditors 14 0
Taxation and social security 0 934
Accruals and deferred income 5,880 825
Total 16,071 12,477

COMMUNITY INTEREST ANNUAL REPORT

RIDE FOR FREEDOM CIC

Company Number: 13585131 (England and Wales)

Year Ending: 31 December 2024

Company activities and impact

Ride For Freedom takes a 360-degree approach within the context of global modern slavery, by harnessing the universal appeal and power of cycling to advocate, educate and collaborate to end the heinous crime and to remediate to survivors and engage multiple stakeholders to create a comprehensive and effective response. Survivor Empowerment Ride For Freedom's Freewheel Empowerment Programme focuses on empowering survivors of modern slavery by providing them with bicycles, accessories, and cycling training. This approach addresses the immediate needs of survivors, offering them tangible tools for mobility, independence, and physical well-being. Preventative Education The Schools Prevention Programme targets children in East London, educating them about modern slavery prevention. By raising awareness and equipping young minds with the knowledge to identify and respond to signs of modern slavery, Ride For Freedom contributes to breaking the cycle of exploitation and vulnerability. Community Engagement Through collaborative efforts within the communities of Barking and Dagenham, Ride For Freedom fosters a sense of solidarity and collective responsibility in addressing modern slavery. By involving schools, local organisations, and residents, the programme creates a supportive environment for survivors and a vigilant community against exploitation. Advocacy and Policy Ride For Freedom's initiatives serve as a platform for advocacy and policy dialogue on modern slavery at both local and global levels. By sharing insights, best practices, and success stories, the programme contributes to shape policies and interventions aimed at combating modern slavery worldwide. Research and Evaluation Continuous monitoring, evaluation, and research are integral components of Ride For Freedom’s approach. By assessing the impact of their programmes on survivors, children, and the community, Ride For Freedom gathers valuable data to inform future interventions and contribute to evidence-based practices in the global fight against modern slavery.

Consultation with stakeholders

Ride For Freedom’s stakeholders include survivors of modern slavery who benefit from our Freewheel Programme, and school children who are educated through our Schools Programme. Additional stakeholders include the survivors’ third sector advocates/support workers, and the children’s teachers and teaching assistants. All are consulted with through anecdotal feedback as well as through written surveys; their feedback has informed programmatic and practical changes to ensure the sessions: meet the service users’ needs, expand their understanding, and have a meaningful and long-term impact. The Schools Programme successfully reached several hundred primary school children in East London and South Wales. Education is a powerful catalyst for change, and at Ride For Freedom, we firmly believe that knowledge is the first step toward dismantling the systems that perpetuate modern slavery. Our Schools Programme has been essential to our strategy, providing young minds with the tools to recognise and act against this atrocity. -In Years 3 and 4, 96% of students grasped the concept of freedom, while Year 5 and 6 students mir-rored this understanding with an impressive 96% correctly identifying freedom as the power to make their own choices. -The notion of modern slavery was similarly understood by 90% in Year 3 and 4, and 95% in Year 5 and 6, demonstrating a significant shift in their awareness of this pressing global issue. -Students’ understanding of climate change also soared, with 88% of Year 3 and 4 students, and an astounding 96% of Year 5 and 6 students correctly identifying it as a long-term shift in Earth’s weather. -Climate change can increase the vulnerability to modern slavery, with 73% of younger students and 78% of older students recognising the link. -Similarly, 91% of Year 5 and 6 students understood the dangers of County Lines, showing not only their awareness but their ability to engage with and critically assess the risks in their own communi-ties. -The overwhelming majority of students, 98% in Year 3 and 4 and 95% in Year 5 and 6, knew the correct response when they saw signs of someone in need, such as those signified by the SUITS acronym. -And more than half of Year 5 and 6 students expressed their intention to continue spreading the les-sons learned, particularly about the dangers of County Lines and modern slavery. The Freewheel Programme, delivered in East London, has proven to be a continuing beacon of transforma-tive change for survivors of modern slavery. This year we prioritised the outcomes for the modern slavery survivor service users who attended our Free-wheel Programme, rather than solely focus on numerical impact. We had the incredible privilege of recon-necting with two of the programme’s participants, witnessing firsthand its lasting impact on their lives. These individuals, who once faced unimaginable hardships, are now on a path to independence, empowered by the opportunities provided through the Freewheel Programme. Through resilience and dedication, the Free-wheel Programme has provided immediate support and fostered long-term change for those it serves. The testimonials we’ve gathered have spoken volumes about the true power of the Freewheel Programme. They highlight the profound transformation experienced by those who have taken part – individuals who have reclaimed their lives, regained their confidence, and are now ambassadors of their journeys. These per-sonal stories are a testament to the programme’s ability to restore dignity, ignite self-belief, and provide a pathway to freedom, proving that the impact of Freewheel goes far beyond just cycling. It is a catalyst for lasting change and empowerment. “Thank you for this privilege and a great opportunity. This would help me with my physical and emotional wellbeing. I'm very grateful and honoured.” -AA, Service User, Freewheel Programme 2024 "After participating in the Freewheel programme, I feel confident and more comfortable. Before, I would find riding on the street terrifying, but now I always look forward to biking, whether to go somewhere or have a mental breather and calm my nerves. It means so much to me, and being given a nice bike with full equipment made me feel valued as a human being." - AVJESP, Service User, Freewheel Programme 2024

Directors' remuneration

Full details are provided in our accounts. 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
7 February 2025

And signed on behalf of the board by:
Name: Gordon Miller
Status: Director