RIDE FOR FREEDOM CIC
RIDE FOR FREEDOM CIC
RIDE FOR FREEDOM CIC
Company Registration Number:
13585131 (England and Wales)
Unaudited statutory accounts for the year ended 31 December 2023
Period of accounts
Start date: 1 January 2023
End date: 31 December 2023
RIDE FOR FREEDOM CIC
Contents of the Financial Statements
for the Period Ended 31 December 2023
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
RIDE FOR FREEDOM CIC
Balance sheet
As at
Notes | 2023 | 16 months to 31 December 2022 | |
---|---|---|---|
| £ | £ | |
Current assets | |||
Debtors: | 3 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 4 | ( | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Total net assets (liabilities): | | | |
Capital and reserves | |||
Called up share capital: | | | |
Profit and loss account: | | | |
Total Shareholders' funds: | | |
The notes form part of these financial statements
RIDE FOR FREEDOM CIC
Balance sheet statements
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
and signed on behalf of the board by:
Name:
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 2023
-
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 Other accounting policies
Summary of significant accounting policies and key accounting estimates: The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.Statement of compliance: These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).Basis of preparation: These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.Going concern: The financial statements have been prepared on a going concern basis.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.Tax: The tax expense for the period comprises current 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 2023
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2. Employees
2023 16 months to 31 December 2022 Average number of employees during the period 4 2
RIDE FOR FREEDOM CIC
Notes to the Financial Statements
for the Period Ended 31 December 2023
3. Debtors
2023 | 16 months to 31 December 2022 | |
---|---|---|
£ | £ | |
Trade debtors | | |
Other debtors | | |
Total | | |
RIDE FOR FREEDOM CIC
Notes to the Financial Statements
for the Period Ended 31 December 2023
4. Creditors: amounts falling due within one year note
2023 | 16 months to 31 December 2022 | |
---|---|---|
£ | £ | |
Taxation and social security | | |
Accruals and deferred income | | |
Other creditors | | |
Total | | |
COMMUNITY INTEREST ANNUAL REPORT
RIDE FOR FREEDOM CIC
Company Number: 13585131 (England and Wales)
Year Ending: 31 December 2023
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 EducationThe 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 EngagementThrough collaborative efforts within the communities of Barking and Dagenham and the West Midlands, 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 PolicyRide 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 EvaluationContinuous 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.
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.The pilot Schools Programme successfully reached a total of 3,006 primary school pupils across six schools in East London.On the initial visit to each school, it was established that only 6% of the pupils and 64% of the teachers had heard about modern slavery.One of the schools was visited for a second time, and an impressive 46% of pupils demonstrated improved knowledge in identifying warning signs of exploitation and 96% awareness among the teachers.Enabling Key Stage 2 pupils to ride static bikes generated enthusiastic participation with 1,886 children taking part.22% of those who cycled had not previously had any experience of cycling which demonstrates the programme’s physical activity and health benefits.Headteachers and teachers completed a survey that received an overall satisfaction rate of 91%. 100% had their expectation met or exceeded; 81% would recommend the programme to others.Consultation with stakeholders identified that the learnings of years 1 and 2, during assemblies, were not as stark as the older year groups. Accordingly, we revised the programme for the younger years to undertake activities in the classroom where supervision is more at hand. The Freewheel Programme successfully reached 34 survivors of modern slavery, with 17 completing the cycling training, in East London, at a 'London pop up' and the West Midlands.13 participants expressed improvements across their lives. 18% improvement in participants’ lives across three categories. 9% improvement in participants’ cycling ability. 2.5% improvement in participants’ physical health. 6.5% improvement in participants’ mental health.Consultation with stakeholders identified that asking service users to travel extensively to attend a session in an area of London distant from where they reside was a barrier to participation. In response we ran a 'London pop up' i.e. we took the session to them.
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.
No transfer of assets other than for full consideration has been made.
This report was approved by the board of directors on
27 February 2024
And signed on behalf of the board by:
Name: Gordon Miller
Status: Director