REGISTERED COMPANY NUMBER: 10086447 (England and Wales)

REGISTERED CHARITY NUMBER: 1169942

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TWO WHEELS FOR LIFE LIMITED

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

10

Independent Examiner's Report

11

to

12

Statement of Financial Activities

13

Statement of Financial Position

14

to

15

Statement of Cash Flows

16

Notes to the Statement of Cash Flows

17

Notes to the Financial Statements

18

to

26

TRUSTEES

C Berriman

A Pincott

P R King (resigned 31/5/25)

V Robinson (appointed 1/6/25)

REGISTERED OFFICE

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

REGISTERED COMPANY NUMBER

10086447 (England and Wales)

REGISTERED CHARITY NUMBER

1169942

INDEPENDENT EXAMINER

Shaw Gibbs Limited

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

BANKERS

NatWest Bank PLC

45 Tottenham Court Road

London

W1T 2EA

SOLICITORS

Withers LLP

20 Old Bailey

London

EC4M 7AN

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 December 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).

The company was incorporated on 29 March 2016 and was registered as a charity on 28 October 2016.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and "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).

Chairman's Report

Two Wheels for Life (TWFL) is now into the 9th year of operations and has continued to support Riders for Health's unique, life-changing programmes in Africa. Riders (RfH) www.riders.org mobilises frontline health workers and vital health care goods and services to hard-to-reach communities in rural Africa by deploying safe, well-managed motorcycles and ambulances.

2024 was a year in which Two Wheels For Life (TWFL) continued an upward trend of the amount of fundraising achieved, surpassing even the record year of 2023 in terms of monies raised.

Two Wheels for Life has always tried to make any activities an opportunity where people can have experiences that 'money can't buy' while raising funds for humanitarian work in Africa. Our renowned Day of Champions that we began in 1989 gave fans of MotoGP a chance to have 'behind the scenes' access to their sport. 2024 saw the last Day of Champions and a new format for the Silverstone MotoGP weekend has been adopted for 2025 which will retain those principles.

In its 34 years, Day of Champions raised more than £4m which, in turn, brought health care to people in critical need. Although the Day of Champions has now ended, we can all look back with a great sense of pride and achievement and look forward to building a new chapter in the fundraising success of TWFL.

Fundraising activities continued throughout 2024, which directly helped the Riders for Health programmes, providing equipment, training, support and liaising closely with the Programme Directors.

Two Wheels for Life has now broadened its reach for fundraising within the motorcycle community to include off-road riding and was included in activities at Adventure Bike Rally and at Malle Mile.

The continued unwavering support of the MotoGPTM paddock, specifically Dorna SL, IRTA (International Racing Teams Association), FIM (Federation Internationale de Motorcyclisme) and the racing teams that participate in the MotoGPTM series, enabled TWFL to have a platform for success in 2024 and for the years ahead.

We are grateful for this support and we were able to provide our fundraising expertise and operations management of fund activities by helping with the organisation and management of the Valencia flood relief effort at the Motul Solidarity GP at Barcelona, held in November 2024.

We are also proud and grateful to have been the chosen charity of the year for the Goodwood Festival of Speed in July. This raised almost £100,000 and helped us raise our profile in the world of motor sport.

A focus on digital development for the Africa programmes continued to play a major part of technology, aiding the collation of data and the subsequent analysis and implementation of continuous improvement.

Impact measurement provided by the data collection and analysis continues to strengthen the already considerable investment into activities such as leadership training and continually improving operational processes.

Millions of people in Africa continue to be supported because of Riders for Health transport systems in rural areas. This work is carried out directly by the programmes with the contributions, technical and financial support by TWFL and we continue to work together for the common goal of providing healthcare and expanding the support to as many people as possible.

Finally, once again I would like to make a special mention of the TWFL staff members, fellow Trustees, the CEO and all of our incredible volunteers.

The Chairman, CEO and Trustees would like to place on record the gratitude of the charity for the efforts of our small, but dedicated staff throughout yet another record-breaking year,

Chris Berriman, Chairman, 19/08/25

OBJECTIVES AND ACTIVITIES

Objectives and aims

Two Wheels for Life is a registered charity. The primary purpose of Two Wheels for Life is to support the reliable and predictable delivery of vital health care, goods, and services, to the most remote and vulnerable people in rural Africa using well managed and maintained transport - an often-neglected aspect of health care for African communities. Our support is focused on UN Sustainability Goal 3.

Our vision is of a world where healthcare reaches everyone, everywhere. To do this, we know that reliable, well-maintained transport must be at the heart of health systems. Two Wheels for Life works with health-related partners across Africa to help fund them in providing transport and maintenance services to keep health care on the road.

The objectives of the charity are the advancement of health for the public benefit through the promotion of access to healthcare for people in need, in any part of the world, but particularly on the continent of Africa. Two Wheels for Life provides grants and expertise, in particular but not exclusively to:

(a) develop and sustain transport networks necessary for the delivery of healthcare;

(b) provide and maintain motorcycles, other vehicles and technical equipment necessary for the delivery of healthcare and to provide training for the development of sustainable transport and healthcare systems

(c) support the core of the work that is procurement of vehicles, preventative maintenance, training and budgeting for vehicles used in the delivery of healthcare, however tough the terrain. By helping our partners budget for the long-term life of vehicles, training health workers how to ride them safely and conducting regular checks on vehicle performance, we can ensure they remain on the roads, helping to deliver health care, predictably and reliably, including the following Riders for Health services:

Outreach Health Care

Training health workers how to safely ride a motorcycle and conduct daily mechanical checks on the bikes ensures that they can consistently and reliably reach six times more people and double the time they can spend in communities than would have been the case without the motorcycles.

Sample Transport

Motorcycle couriers safely transport blood and sputum samples from local health clinics to regional laboratories, often halving the time it takes for patients to receive life-saving test results.

Emergency Referrals

In an emergency situation, reliable transport really can mean the difference between life and death. The four­ wheeled vehicles used by the Riders for Health are designed especially for the harsh African terrain, transporting patients from homes and health centres to hospitals.

Supply Chain Distribution

The first step in health care delivery is getting supplies, such as vaccines, mosquito nets and medication from the factory to the field. Transporting these vital supplies from warehouses in major cities to rural health centres ensures that they can constantly have the medication they need for their patients.

Vehicle/driver/rider training

To ensure health workers stay safe on the roads, and to keep vehicles in the best possible condition, riders and drivers are trained how to safely control their vehicles. All health workers mobilised by Riders for Health in Africa must complete a 10-day training course in road safety, off-road driving and basic vehicle maintenance.

Employment

Maintenance, logistics and infrastructure requirements create employment and a skilled workforce. This is not the primary aim of the organisation, but it should be noted that as a result of the work we support there are almost 1,000 people who are in employment that may not have been otherwise employed.

Digital Development

The establishment of digital processes that work in tandem with the on-the-ground service delivery is seen as a vital addition. Riders are now able to have at-a-glance information for stores management, journey planning, servicing schedules to lower costs and create even more efficiency. Riders can monitor health care provided and take-up on health care products and services. These are in collaboration with the ministries of health partners.

Impact Measurement

It is important for continual improvement within the Riders' system to monitor and measure the impact of the work. This is also important for reporting to donors and partners.

Leadership training

It is vital for sustainability that the leadership in the Africa programmes has access to development and training. Two Wheels for Life supports this way of making sure that the programmes are deeply rooted in the countries in which they operate and have the local leadership that they need.

Working together for success

Two Wheels for Life is a partnership operation. Our aim is to underpin the work of the Riders for Health organisation, serving rural communities in Africa, giving them predictable and reliable access to their beneficiaries. We work with partners at all levels of the health care delivery chain. Driven by the same commitment to a positive health outcome as our partners, such shared objectives have inspired us to create a sustainable infrastructure that complements existing systems, eliminates waste and builds in-country capacity.

Public Benefit

In setting Two Wheels for Life's objectives and planning our activities, the trustees are satisfied that Two Wheels for Life has given careful consideration to both the Charity Commission's general guidance on public benefit and advancement of health for the public benefit. The details of Two Wheels for Life's activities and achievements in the report show how Two Wheels for Life meets the criteria. The trustees always ensure that the activities we undertake are in line with our charitable objectives and aims.

Riders for Health is an African social enterprise and the Riders' programme teams are world leaders in the management and maintenance of vehicles for health focused organisations. It is comprised of 5 charitable organisations sharing the same humanitarian mission, which operate in the Gambia, Lesotho, Malawi and Nigeria

- Vision - A world in which healthcare reaches everyone, everywhere

- Mission - To ensure reliable transport is available for healthcare services

- Values - Local leadership, gender equality, cost effectiveness and partnership collaboration

TWO WHEELS FOR LIFE SUPPORTS THE WORK OF RIDERS FOR HEALTH AS THEIR VISION, MISSION AND VALUES ARE ENDORSED AND APPROVED BY THE BOARD OF TRUSTEES OF TWO WHEELS FOR LIFE.

Grantmaking

Two Wheels for Life only makes donations in line with its specific objectives, namely directly to support Riders for Health programmes in Africa. The directors and trustees will jointly agree on the reasons for (including benefits to the relevant programme), timing of and size of donation before the donation is made.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities 2024

Two Wheels for Life (TWfL) and Riders for Health have collaborated closely on the development of a digital roll-out for the programmes in Lesotho, The Gambia, Nigeria, and Malawi. The combination of reliable, well-maintained transport and a digital capacity creates a powerful infrastructure for bringing healthcare to even the most rural communities in Africa.

The Riders for Health Africa programmes in Lesotho, Malawi, The Gambia and Nigeria each have expanded and deepened their sample transport and vaccine courier systems. The strategic plan for Lesotho is to extend their service to include three further districts which will then mean that it has national coverage. Those plans have become even more important following the COVID-19 pandemic in Africa. Two Wheels for Life is keen to support that strategy with equipment and training and we continue to work closely with the programme directors to understand their changing priorities and needs. The current focus is on digital development for each of the programmes to support further efficiencies and effectiveness.

Two Wheels for Life was able to support the life-saving work of our sister organisation, Riders for Health to ensure healthcare continues to be accessible to those who need it, using motorcycles and other vehicles.

We delivered 32 motorcycles to Riders for Health The Gambia which are urgently needed to replace ageing vehicles that risk breakdowns if they are run past their lifetime. In The Gambia motorcycles deliver vital healthcare including bed nets to prevent malaria, pre and postnatal care, vaccines and many more life-saving interventions.

We provided resources for specially designed boxes and bags that are appropriate for transporting specimens and samples, using motorcycles, from clinics and hospitals to laboratories for diagnosis.

Two Wheels for Life also funded the shipping and insurance of 61 motorcycles to The Gambia and through our new "Gift a Motorcycle" project we raised funds for 22 motorcycles (and counting) that will be sent in 2025 as part of a vital fleet replenishment project.

Programme audits

Two Wheels for Life is supporting an operations audit for each programme to maintain consistency and standards. In addition, we continue to support digital development to ensure efficiency and cost effectiveness

46 health workers trained & staff development

In remote regions in mountainous Lesotho we funded the training of health workers. Reliable sample transport ensures speedy diagnosis and the ability to start life-saving treatment for conditions such as TB and HIV as quickly as possible. We secured opportunities for Riders African staff to share skills and knowledge with others working in the NGO sector.

Programme expansion

Funding received from Two Wheels for Life allowed work to be carried out to expand our network in Nigeria, building our reach across more states in order to reach ever more people with improved life-saving healthcare.

Providing protective motorcycle clothing for motorcycle mounted health professionals including thermal clothing for the mountainous regions of Lesotho.

Through the support of our volunteers and fundraisers, healthcare is reaching more people in Lesotho, The Gambia, Nigeria and Malawi and we have helped save and improve millions of lives throughout Africa.

Two Wheels for Life Online

The charity has sought to expand its social media presence and impact, including an increased frequency of posting messages and offers, and in generating increased numbers of 'followers'.

For example, Two Wheels for Life's followers on LinkedIn grew from 50 in 2020 to 500+ by 2023.

By the end of 2024, we reached 880 followers.

Corporate support and Motorcycle Events

Two Wheels for Life were chosen as the official charity partner for the 2024 Goodwood Festival of Speed, a prestigious international event, where we raised almost £100,000. This event brought Two Wheels for Life to a new audience with celebrity supporters to represent our work.

TWFL participated once again in the Malle Mile event raising almost £18,000, showing the event now contributes each year to the long-term income stream strategy.

TWFL also attended the British World Superbike and Motorcycle Live events, raising almost £23,000 fundraising and raising awareness of the TWFL charity.

Gifts and Legacies

Two Wheels for Life's legacies programme is focused on encouraging supporters to include provision in their wills for donations to Two Wheels for Life. TWFL has also expanded the sections of its website, encouraging Gifts in Memory donations from the families of supporters and motorcyclists more widely.

Monitoring and Liaison

In 2024 Two Wheels for Life hosted the Programme Directors from each of the Riders for Health countries - Malawi, The Gambia, Lesotho, and Nigeria - for a Management Council meeting. The aim of this Management Meeting was to reinforce the partnership between Two Wheels for Life and Riders for Health, formulating strategic plans and ensuring the organisation's stability and long-term sustainability. The areas of focus were long term goals, succession planning, partnerships, and improved communication-ultimately enabling the original goals set in 2017 to be achieved.

Our plans for fundraising in 2025

Our strategic plan for supporting the work in Africa is to help the programmes to highlight the vital nature of transport to support remote communities whose access to health care is very limited. Distance and terrain are challenging for anyone, especially sick and pregnant women. This is an issue, the profile of which needs to be raised and in support of this goal we are gathering data to show the impact of sustainable and safe transport for Africa.

Further information can be found at;

http://www.twowheelsforlife.org.uk

https://www.riders.org

FINANCIAL REVIEW

Financial position

A summary of the period's results can be found on page 13 of this report and within the attached accounts.

Total income for the period amounted to £953,307. This was comprised of auctions, individual donations and merchandise profits.

Costs of raising funds was £98,112 and £617,218 was expended on charitable activities including direct costs, support costs and the cost of grant funding.

At the end of the period the charity had unrestricted reserves of £529,252 and restricted reserves of £45,637 held principally in cash at bank.

Services

Shaw Gibbs Ltd provides Two Wheels for Life with financial services including payroll.

The Two Wheels for Life board provide governance, guidance and also active support in fundraising and finance management.

Reserves policy

The trustees look forward for a minimum period of one year to set the appropriate level of reserves for the organisation. In considering this, attention is being given to a) committed expenditure b) the liquidity of existing reserves and the likelihood of income. At the year end the trustees considered that free reserves should be between 6 and 12 months' expenditure. The reserves policy is kept under quarterly review.

Principal risks and uncertainties

The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks.

Principal risks include key personnel risk, loss of support from key funders and resource providers and wider economic or pandemic risks.

We are seeking to mitigate these risks by continuing to broaden our donor base, seeking pro-bono services, and maintaining a strong reserves policy.

Risks are also mitigated through maintaining good contacts in the motorcycling community and charitable sector, working closely with funders and broadening the source and range of fund providers, reducing dependencies on individuals and maintaining resources on a prudent basis.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Charity is a company limited by guarantee.

The Trustees, who are also the directors for the purpose of company law, and who served during the period were:

Chris Berriman

Andrew Pincott

Paul King (resigned 1 June 2025)

Victoria Robinson (appointed 1 June 2025)

Two Wheels for Life is a company limited by guarantee governed by its Memorandum and Articles of Association dated 22 September 2016.

The method of appointment and resignation of trustees is set out in the Articles of association. This report represents the directors' report as required by the Companies Act 2006.

The Memorandum and Articles of Association allow for an unlimited number of trustees but a minimum of three. Trustees must retire at the first meeting of the members and at each subsequent annual general meeting one third of trustees will retire by rotation, subject always to the number of trustees not falling below three.

Trustees may be appointed by ordinary resolution. Appointment of trustees is considered on the basis of the requirements of the charity and the skills and expertise that each trustee would bring.

Meetings of trustees occur quarterly or at such other frequency as the trustees may consider suitable in the circumstances of the charity.

None of the trustees has any beneficial interest in the company. C Berriman and Andrea Coleman are the members and guarantee to contribute £1 in the event of a winding up.

Two Wheels for Life's Charitable Objects, Articles and Memorandum of Association

In December 2023, the Charity Commission approved revisions to the charity's articles of association, charitable objects and vision statement. The decision to update the articles of association was prompted by the needs of a changing African health landscape, and due to the charity's evolving relations with the increasingly mature Riders for Health programmes. Permission for the changes were sought after unanimous Board approval, extensive legal advice from Hogan Lovells and submitted for formal approval from the Charity Commission by Brachers. The new articles, which will extend the support the charity can provide from grant making to providing advisory support, were applied from 1st January 2024.

From 1st January 2024 the Charity's vision became:

The advancement of health for the public benefit through the promotion of access to health care for people in need in any part of the world, but particularly on the continent of Africa, by providing grants, advocacy and advice to, in particular but not exclusively:

(a) develop and sustain transport networks necessary for the delivery of healthcare;

(b) provide and maintain motorcycles, other vehicles and technical equipment necessary for the delivery of healthcare;

(c) provide training and advisory support services for the development of sustainable transport and healthcare systems.

Induction and training of new trustees

New Trustees undergo an induction process to brief them on their legal responsibilities, the charity's objectives, operations and finances. Trustees also receive update training as required on an annual basis.

Key management

The Trustees consider that they, together with the chief executive officer, comprise the key management of charity in the charge of directing and controlling, running and operating the charity on a day to day basis.

Remuneration of the CEO is based on the availability of suitability qualified and experienced people in the market.

Andrea Coleman acted as chief executive officer throughout the period.

The legal and administrative information set out on the first page of these financial statements forms part of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 25 September 2025 and signed on its behalf by:

C Berriman - Trustee

Independent examiner's report to the trustees of Two Wheels For Life Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our independent examination work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our independent examination work, for this report, or for the opinions we have formed.

Nicola Fox FCA

Shaw Gibbs Limited

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

29 September 2025

2024

2023

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

3

390,530

38,360

428,890

103,522

Other trading activities

4

523,143

-

523,143

467,742

Investment income

5

1,274

-

1,274

-

Total

914,947

38,360

953,307

571,264

EXPENDITURE ON

Raising funds

6

92,272

5,840

98,112

57,749

Charitable activities

7

Charitable activities

617,218

-

617,218

483,008

Total

709,490

5,840

715,330

540,757

NET INCOME

205,457

32,520

237,977

30,507

RECONCILIATION OF FUNDS

Total funds brought forward

323,795

13,117

336,912

306,405

TOTAL FUNDS CARRIED FORWARD

529,252

45,637

574,889

336,912

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

2024

2023

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

16

1,103

-

1,103

2,207

CURRENT ASSETS

Debtors

17

13,911

-

13,911

26,907

Cash at bank

532,100

45,637

577,737

334,052

546,011

45,637

591,648

360,959

CREDITORS

Amounts falling due within one year

18

(17,862

)

-

(17,862

)

(26,254

)

NET CURRENT ASSETS

528,149

45,637

573,786

334,705

TOTAL ASSETS LESS CURRENT LIABILITIES

529,252

45,637

574,889

336,912

NET ASSETS

529,252

45,637

574,889

336,912

FUNDS

19

Unrestricted funds

529,252

323,795

Restricted funds

45,637

13,117

TOTAL FUNDS

574,889

336,912

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 25 September 2025 and were signed on its behalf by:

C Berriman - Trustee

Cash flows from operating activities

Cash generated from operations

1

260,769

42,681

Interest paid

(18,358

)

(3,780

)

Net cash provided by operating activities

242,411

38,901

Cash flows from investing activities

Purchase of tangible fixed assets

-

(3,310

)

Interest received

1,274

-

Net cash provided by/(used in) investing activities

1,274

(3,310

)

Change in cash and cash equivalents in the reporting period

243,685

35,591

Cash and cash equivalents at the beginning of the reporting period

334,052

298,461

Cash and cash equivalents at the end of the reporting period

577,737

334,052

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2024

2023

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

237,977

30,507

Adjustments for:

Depreciation charges

1,103

1,103

Interest received

(1,274

)

-

Interest paid

18,358

3,780

Decrease/(increase) in debtors

12,997

(2,701

)

(Decrease)/increase in creditors

(8,392

)

9,992

Net cash provided by operations

260,769

42,681

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/24

Cash flow

At 31/12/24

£

£

£

Net cash

Cash at bank

334,052

243,685

577,737

334,052

243,685

577,737

Total

334,052

243,685

577,737

1.	LEGAL FORM

Two Wheels for Life is a private company limited by guarantee incorporated in England and Wales. Its registered address is listed on page 1.

2.	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.

The presentation currency of the financial statements is the Pound Sterling (£).

The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies.

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.

Cash donations and income from fundraising events are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deed of covenant is recognised at the time of the donation.

In accordance with the Charities SORP (FRS102) volunteering time is not recognised.

Donated services and facilities provided to the charity are recognised in the period when it is probable that the economic benefits all flow to the charity, provided they can be measured reliably. This is normally when the service is provided. An equivalent amount is included in expenditure.

Donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain facilities or services of equivalent economic benefit on the open market.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of the interest paid or payable by the bank.

Government Grants

Government grant income is recognised as it is received.

Expenditure

Expenditure are recognised in the period in which they are incurred on an accrual basis. Expenditure included attributable VAT which cannot be recovered. Costs of charitable activities include direct expenditure incurred through grants to partners and operational activities together with associated support costs. Grants are recognised in the period in which they are payable. Grants payable in furtherance of the charity's objects are attributed to the related classification heading in the SOFA. The costs of raising funds relate to the costs incurred by the charitable company in raising funds for the charitable work. Expenditure is allocated to the particular activity where the cost relates directly to that activity.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website 33% per annum using the straight line basis

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

Financial liabilities are classified according to the substance of the contractual arrangements entered into. Where the contractual obligations of financial instruments are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the statement of financial activities. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

3.	DONATIONS AND LEGACIES

Included within Donations and Legacies is an estimate of £4,019 (2023: £12,000) in relation to legal and marketing services which were donated to the charity. There are no conditions or contingencies attached to this.

4.	OTHER TRADING ACTIVITIES

2024

2023

£

£

Fundraising events

523,143

467,742

5.	INVESTMENT INCOME

2024

2023

£

£

Deposit account interest

1,274

-

6.	RAISING FUNDS

Raising donations and legacies

2024

2023

£

£

Fund raising expenses

94,811

20,006

Grants payable

-

35,370

Insurance

3,301

2,373

98,112

57,749

7.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

Support

Direct

(see note

costs (see

Costs

8)

note 9)

Totals

£

£

£

£

Charitable activities

437,006

168,754

11,458

617,218

8.	GRANTS PAYABLE

2024

2023

£

£

Charitable activities

168,754

120,357

The total grants paid to institutions during the year was as follows:

2024

2023

£

£

Riders for Health supporting community health workers

168,754

120,357

9.	SUPPORT COSTS

Governance

costs

£

Charitable activities

11,458

10.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024

2023

£

£

Independent Examiners remuneration

2,670

2,541

Independent Examiners remuneration for other services

8,788

8,287

Depreciation - owned assets

1,104

1,103

11.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees' expenses

Expenses were reimbursed totalling £218 to two of the trustees during the year in relation to travelling and other administrative expenses.

12.	STAFF COSTS

2024

2023

£

£

Wages and salaries

185,813

160,282

Social security costs

14,552

11,780

Other pension costs

6,216

6,274

206,581

178,336

The total employee benefits of the key management personnel of the Charity were £42,405 (2023: £46,696).

The average monthly number of employees during the year was as follows:

2024

2023

Support Staff

5

4

No employees received emoluments in excess of £60,000.

13.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

90,405

13,117

103,522

Other trading activities

467,742

-

467,742

Total

558,147

13,117

571,264

EXPENDITURE ON

Raising funds

37,699

20,050

57,749

Charitable activities

Charitable activities

483,008

-

483,008

Total

520,707

20,050

540,757

NET INCOME/(EXPENDITURE)

37,440

(6,933

)

30,507

RECONCILIATION OF FUNDS

Total funds brought forward

286,355

20,050

306,405