The Wllllam Wate5 Memorial Trust Report and Flnandal Statements Year Ended 31 August 2022 Charit No: 1011213
Pa The William Wates Memorial Trust Report and Financlal Statements for the year ended 31 August 2022 Contents Page5 Legal and Adrnin75trative information Trustees, Report Independent Examiner's Report Con501idated Statement of Financial Activltles 10 Consolidated Balance Sheet Charity Balance Sheet 12 Consolldated Statement of Cash Flow5 Notes to the accounts 14-23
Pa The Wllllam Wates Memorial Trust Legal and Admlnlstratlve Informatlon Name and registered number of charity The charity 15 known as The William Wates Memorial Trust and it5 registered number 15 1011213. Status The charity was established by a Charitable Trust Deed dated 2 April 1992. It5 object5 are described in the Managing Trustees. Report on pases 3 to 7. Prlnclpal address Wate5 House Station Approach Leatherhead Surrey i(r22 7SW Trustees Andrew Wates (Chairman) Sarah Wate5 Tiinothy Wates Jonathan Wates Richard Wates Monty Wates Susan Laing Bankers Weatherby5 Private Bank London Office 22 Sackwlle Street London W1S 3DN Investment l+lanagers Smith & Williamson Investment Management LLP 25 Moorgate Londo EC2R 6AY Sollcltors Boodle Hatfield 6 Worcester Street Oxford OX12BX Irbdependent examiner Susan Kumar ACA Holden Granat LLP Chartered Accountants Springfield House 23 Oatlands Drive Weybridge Surrey KT13 9LZ
Pa The William Wates Memorlal Trust Report of the Managing Trustee5 for the year ended 31 August 2022 The Managing Trustees present their report for the year ended 31 August 2022. Objects Under the terms of the Trust Deed, the objects of the charity are to pay or apply the income land as much Of the capital of the Trust Fund as they think fit,) a5 the Trustees may in their uncontrolled discretion determine, for such charitable purposes as they in their discretion from time to time determine. The charity keep5 alive the memory of William Wates 11977-19961 who was tragically killed when travelling in Central America. It5 main aim is to enable disadvantaged young people to fulfil their potential. In order to achieve that, the Tru5tee5 seek to target initiatives related to sport, art and education for young people, which can create an entry point for wider engagement and development. The Trustees a150 wish to support charities that train the trair5er so that a 'ripple effect, of positive change can happen beyond the grant made. In pur5UIt of the above objects, and in order to raise the great majority of the charity's fund5, WWMT has created a trading arm ITour de Force Cycling Ltd), which organises the 'Le Loop, cycling event. With the exception of disTUPtion caused by COVID this event is run annually and the m05t recent event is discussed in wnore detail below. ThTS event allows amateur cyclists with a broad range of experience and ability to cycle part, or in some cases all, of the route of the Tour de France in the current year. The event is also used to introduce the riders directly to some of the beneficiary charities. Opportunities are taken for young people being supported by the chadty to take part in the event itself. The charity 5UPPOrts and underwrites the organisational and some of the running costs of Le Loop on an annual ba515, Wlth rider's direct cost5, transport, accommodation, food etc being paid by the participants. Riders undertake to raise amount5 of chaiitable donations related to the level of their participation in the event. All funds raised are paid directly to WWMT. A more detailed review of the opwation of the event is discussed in the following report. Governance The Trust was established by Mr ATA Wates on 2 April 1992 and was registered as a charity under Section 4 of the Charitie5 Act 1960. The Trust wa5 then known as the Henfold Trust. The Trustees changed its name to the William Wates Memorial Trust on 21 November 1997. The power to appoint new or additional Trustees vest5 Iri the settlor during his lifetime. Objectlves and Activities To keep alive the memory of William Wates, the Trustee5' objectives are.. To encourage disadvantaged and vulnerable young people away from antl-50cial behavlour and crlmlnal actlvity. enabling them to fulfil their potentlal. Eligibility guidelines Projects should help the m05t disadvantaged 5-19 year olds Applications should clearly define what success looks like and how It wlll be measured
Pa The William Wates hlemorial Trust Report of the Managing Trustee5 for the year ended 31 August 2022 Icontinuedl We primarily support projeits In London and the South East. Howeyer, we will also consider projects nationally (that meet our gudelinesl that may be proposed by our Le Loop riders Organisations that raise funds from grant makers of less than £500,0 pferablY with no more than 60% from public seNce contract5 or other commissioned work Organisations should be registered charitie5 or not for profit enterprises Additional guidelines that wll be looked upon favourably The Tru5tee5 prefer to support projects that continue to have impact after our support has ended. Helping a young person get a coaching qualification is preferable to facilitating that same young person to play football once a week. The sustainability of support for young people: The Tnjstees particularly want to support projects that have a continuing impact on individuals long after specific (sometimes intensivel projects come to an end. Thi5 may be done in house or through connectlOn5 Wlth other local organisations. The actlwties of the Charity included- Supporting the organi5ation of the Le Loop cyclTng event as the principal fundraising initiative for the charity. The budget for this support is based on a request produced by Tour de Force Cycling Ltd (trading as Le Loop) prepared for each running of the event, reviewed by the company's Board, and then presented for approval by the Trustees. Tour De Force cycling has its own Board, chaired by Rick Wates and including Andrew Wates, both of whom are Trustees of WWMT. The Board a150 has an independent Director, Duncan Straughen. With the as515tance of the Executive Committee, including Sarah Perry, Chief Executive of Le Loop, the board monitors all aspects of the Tunning of the event, irbcluding preparation of budgets for approval, and reports to the Trustees. The Tour de Force event has been run since 2012 on an annual basis. until the recent disruption, and despite the unavoidable hiatU5, It has become an established event. The success of the 2022 event, which was the first for three years, demonstrated the continuing huge levels of support and engagement from the riders. It also represented an enormou5 effort on the part of the whole organising team led by Sarah Perry and Kate Norris, who despite the extra pre5sure5 of managing COVID protocols and disruption to the riders and the team, prowded a very successful event which raised a total of £423,232. It is also important to recognise the contribution of those riders who de5Plte having been so patient in their support of the event through the years when it was cancelled, then had their long-awaited event disrupted by catching COVID and being requred to cut short their efforts. The Trustees are delighted that we will be welcoming back the great majority of the riders affected to take part thi5 year or next.
Pa The William Wates Memorlal Trust Report of the Managing Trustees for the year ended 31 August 2022 Icontinuedl The very successful fundraising mentioned above, combined with a prudent reserve position established in prevrous year5, enabled WWMT to confirm it5 ability to continue to fund all its committed grants and projects, as well as considering new grants. It continues to work very closely with the front-line charities to see what additional asslstance could be offered during the continuing cri515, a5 many of those organisatlOn5 have been among the hardest hit. Over recent years, the Trustees decided to utilise some of the previously accumulated reserves of the Trust to maintain and in some cases increase leve15 of support to charitie5 and make new commitments, in order to help them address the ever gromng demand for the support they provide. It is the Trust's usual practice to make multi-year grant awards to supported charitie5 where that Is appropriate. Going forward, it 15 the intention to maintain reserve5 at a level which would enable the Trust to meet all its existing commitments to multi year grant funding. even if there 15 another interruption to fundraising. In addition, the reserves will be held at a level to allow WWMT to support the necessary contribution to enable Le Loop to take place when possible. The Trustee5 will review the level of reserves each year in light of the above, current fundraising and commitrnent5. They will seek to utilise funds available, above the required long-tem) level, to increase commitments made to charities. As wnentioned above, each year the direct Costs of rltnning the event are expected to be met by the contributior15 received from riders in respect of their accommodation and other direct costs. In 2022, Tour de Force Ltd wa5 able to utilise fund5 committed by WWMT in earlier years to meet the costs of the 2022 event. No further financial Sltpport from the Trust was required in this flnanaal year. This year £442,609 in donation income was raised for the Trust by rfders and other supporters 12021 £318,627) For riders who have rolled over their participation in the cancelled events to 2022, donations are reflected on the accounts in the year when received. For those riders who had to leave last year's event, all funds raised Mll be taken into account in term5 of indivbdual fund-raising target5 for their return. There has been strons support for the Le Loop event in 2023, which will run from 23rd June to 17thJuly 2023. The Grand Depart is in Bilbao, and the established popularity of the event is shown by the fact that close to 200 riders haye signed up for the event this year. The Trustee5 aim to continue supporting the best charities that meet their criteria. The Trustee5 continue to champion particular charitie5 personallyi and to V151t each charity at least once, before any grants are approved, in addition to other appropriate due diligence. The Trustees produce a periodic new51etter reporting the progress on each charity that the Trust support5. The new51etter is being distributed wa email and hardcopy to interested parties. The prudent reserye POSTtion, created as a result of the success of Le Loop over a number of years. enabled the Tru5tee5 in the last financial year to not only to continue to 5UPPOrt previous commitments including some larger projects with the scope for even greater impact but also provided the capacity to maintain a higher leyel of new grant making to 5UPPOrt charities, in the current difficult circumstances.
The Wllllam Wates Memorlal Trust Report of the Managlng Trustees for the year ended 31 August 2022 {¢ontlnued) Recruitment and Training of Trustees The Trustees have identified training and development a5 a key area within the Tru5t'S strategic planning. Thi5 IS to ensure that member5 of the Wate5 Family a550ciated with the work of the charity have the relevant skills, competences, knowledge and understanding needed to deliver the Trust's mission effectively, sustaining and improving the overall perftsrmance of the Trust and it5 grant rnakins. Trustees gain experience as members of the Trust's Grant Commlttee and through involyement in a range of other charitable initiatives. They take an active role in the grant assessment process and related due diligence and othei visits, a5 well as a programme of vi51t5 to relevant organi5ations and institutions. Where relevant, Trustee5 will a150 undertake formal training conducted by bodie5 such as the Association of Charitable Foundations. The Trustees also seek regular independent review of the Trust's grant making. Rlsk Management The Trustees consider that in light of the ongoing success of fundraislng, desplte the challenge5 related to Le Loop discussed above, they hold adequate funds to meet all current commitments and liabilities. The Trustees have identified and examined the major risks to which the charity is exposed and have established procedures for taking all reasonable steps to lessen or mitigate them. The Trustees review these risk wnanagement procedures annually. Resee$ Poll¢y It 15 the policy of the Trustees to maintain tjnrestricted funds, which are the free reseTve5 of the charity. to meet approved but uncommitted grants to qualifying charities, with a minimum of at least one year'5 total anticipated Grants. As discussed above, the current level of reserve5 also enables WWMT to have the confidence to continue to 5UPPOrt it5 Strategy of committing to more major initiatives, sometimes over a multi-year grant period. Free reserves are currently £557,453 12021: £636,153), reflecting the Trustees decis?on to utilise a portion of Cufrent re5erve5 to increase grants in the Short term. Publlc Beneflt The principle5 of PLTrblic benefit, as defined by the Charity Commission, have been noted by Trn5tee5. The Trustee5 confirm having given regard to the Charity Commission's guidance and state their belief that the Trust prowde5 identifiable benefits to a section of the public. Investments The Trust's investments are predominately in UK listed 5ecuritie5 on which the TrLSStees have taken the advice of their Investment Managers. An unquoted investment is held, and further details are given in note 10. Investment policies and performances are reviewed at meetings by the Tfustees.
Pa The Wllllam Wate5 Memorial Trust Report of the Managing Trustees for the year ended 3 1 August 2022 (contlrbuedl Flnanclal review The consolidated account5 include the combined results of the Trust and it5 wholly owned stjbsidiary Tour de Force Cycling Limited. As described above. Tour de Force Cycling Limited carries out fundralsing actiwties on behalf of the Tnjst and as such it is not intended to make a profit. Any surplus created is transferred to WWMT. Donation, fundraising and investment income for the 202112022 year were £775,320 12021: £421,777). Grants of £305,711 12021: £477.3151 were COFnmitted during the year. (See note 7 of the accounts). Grants actually paid out during the financial year were £330,937, 12021 £382,189) which evidence5 the charity's ongoing commitment to those it supports, despite the disruption to fundraising. It is the policy of the charity to support projects over longer periods where appropriate. Perfomiance of all the reapient5 is closely monitored and subsequent year grants are Subject to acceptable performance. In principle. support for continuing initiatives as of 31 August 2022 was £300,069 12021: £325,295). At 31 August 2022 the unrestricted reserves of the Trust and it5 subsidiary amounted to £557,45312021: £636,153). This position reflects the higher levels of actual grants being paid out in line with policy discussed above. The Balance Sheet date coincides with the end of the fundraising through the Tour de Forcè therefore in normal years representing a high point in resources each year. Typically, there are two Grants C0mittee meetings each year. During the year ended 31, August 2022, WWMT received total donation5 of £442,609, of which £423,232 related to fund raising effort5 of Le Loop riders. In the unprecedented context of recent years, and ctsntinued strong fund raising, the Trustees are happy with the overall financial performance of the charity which has enabled WWMT to maintain adequate reserves from which the charity can continue to fund its objectives Statement of trustees, responslbllltles The Trustees are responsible for preparing the Annual Report of the Tru5tee5 and the finandal statements in accordance wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountirlg Practice). The law applicable to charit7es in England & Wales requires the Trustees to prepare financial statement5 for eaih financial year which give a true and fair wew of the state of affairs of the charity and the group and of the incoming resources and application of resources of the charity and the group for that year. In preparing these financial statement5, the Trustees are required to.. select suitable accounting policie5 and then apply them con515tently- observe the methods and princTrple5 Ill the Charities SORP. make Judgments and accounting estimates that are reasonable and prudent- state whether applicable accounting standards have been followed, subject to any material departures di5c105ed and explained in the financial 5tatement5- prepare the financial 5taternents on the going concern basis unless It is inappropriate to presume that the charity and group 1[ continue in busine5S. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and the group and enable them to ensure that the financial statements comply wth the Charitie5 Act 2011. the Charities (Accounts and Reports)
The Wllllam Wates Memorlal Trust Report of the hlanaging Trustees for the year ended 31 August 2022 {¢ontlnued) Regulations 2008 and the provlsions of the trust deed. It 15 also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitie5. Approved by the Board of Trustees of The William Wates Memorfal Trust on and signed on its behalf by Andrew Wates (Trusteel Date 29 June 2023
Pa INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WILLIAM WATES MEMORIAL TRUST I report to the trustees on my examination of the accounts of The William Wates Memorial Trust for the year ended 31 August 2022, which comprise the Statement of Financial Activities. the Balance Sheetlthe Statement of Financial Position, the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated Statement of Cash Flows and the note5 to the accounts, including a summary of Significant accounting policies. Respectlve responslbllltles of trustees and examiner and basis of report As the charity's trustees you are responsible for the pparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the Act'l. I report in respect of my examination of the charity's accounts carried out under Section 145 of the Act and in carrwng out my examination I have followed all the applicable Directions given by the Charity Commission under seition 14515llbl of the Act. Indeperbdent examlner's statement Since the charity's gros5 income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that l am qualified to undertake the examination because l am a member of The Institute of Chartered Accountant5 in England & Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matter5 have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act- or the accounts do not accord with those records. or the accounts do not comply wth the applicable requirements concerning the form and content of accounts set out in the Charities (Account5 and Reports) Regulation5 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of ar5 independent examination. I have no concerns and have come across no other wnatters in connection with the examination to which attention should be drawn in thTS report in order to enable a proper understanding of the accounts to be reached. Susan Kumar ACA Member of the Institute of Chartered Accountant5 in England and Wales Holden Granat LLP Chartered Accountants Springfield House 23 Oatlands Drive Weybridge KT13 9LZ Date.. 29 June 2023
Pa e10 The Wllllam Wates Memorlal Trust Consolidated Statement of Flnanclal Actlvltles for the year ended 31 August 2022 2022 2021 Notes Income Donations received Activitie5 for generating fund5 Investment income 442,609 327,978 4,733 775,320 318,627 97,834 5,316 421,777 Total Income Expendlture Charitable activities Costs of raising funds Total expendlture 311,007 480,273 791,280 481,585 83,319 564,904 Net expendlture before galnslllossesl on Investments 115.%01 1143,1271 Gairb5 on revaluation of investments 162,7401 178,7001 105,557 137,5701 Net movement In funds Reconciliotion of funds Total funds brought forward at I September 2021 Total funds carried fotward at 31 August 2022 636.153 E557,453 673,723 £636,153 During both financial year5 funds cons?sted entirely of unrestricted funds. All operation5 are classed a5 continuing.
Pa e 11 The Wllliam Wates Memorlal Trust Consolldated Balance Sheet at 31 August 2022 2022 2021 Notes Fixed Assets Tangible fixed assets Qoted investments Unquoted investments 419,734 12,000 431,734 648,822 12,000 10 660,822 Current Assets Debtors and prepayment5 Cash at bank and in hand 91,865 406,857 498,722 52,946 257,106 310,052 12 Llabilities Creditors.. Amounts falling due within one year Grants payable Other creditors 188,832 72,934 261,766 223,795 9,426 233,221 14 Net current asset5 236,956 668,690 76,831 737,653 Total assets le55 current Ilabllltles Creditors.. Amounts falling due after ore than one year Grants payable Net assets 111,237 £557,453 101,500 £636,153 Represented by: Unrestricted Trust Fund 16 £557,453 E636,153 Approved by the Trustees Andrew Trustee ates Timothy Wates Trustee Date
Pa e12 The Wllliam Wates Memorlal Trust Charity Balance Sheet at 31 August 2022 2022 2021 Note5 Fixed Assets Tangible fixed assets Quoted inYe5tments Unquoted investwnents 419,734 22,000 648,822 22,000 670,822 10 441,734 Debtor5 and prepayment5 Cash at bank and in hand 91,406 371,762 463,168 117,273 178,083 295,356 12 Llabllltles Creditors.. Amounts falling due thin one year Grants payable Other creditor5 188,832 47,380 236,212 223,795 4,730 228,525 14 Net current assets 226,956 668,690 66,831 737,653 Total assets less current ITabilitie5 Creditors.. Amounts falling due after more than one year Grant5 payable Net assets 13 111,237 E557,453 101,500 £636,153 Represented by: Unrestricted Trust Fund 16 £557,453 £636,153 Approved by the Trustee5 Andre Trustee Timothy Wates Trustee Date
Pa e13 The Vlllliam Wates MemorSal Trust Consolidated Statement of Cash Flows for the year ended 31 August 2022 2022 2021 Notes Net cash used In operatlng actlvltles 116,5971 1142,9441 Investlng actlvltles Additions to investments Proceeds on disposal of investments 1211,9361 378,284 114,8211 Net cash generated from I lused inl investing actlvitles 166,348 114,8211 Net increase I Idecreasel In cash and cash èquivalent5 149.751 1157,7651 Cash and cash equlvalents at beginning of the year 257.106 414,871 Cash and c4sh equivalents at end of year £406.857 £257. 106 A. Reconciliatlon of net expendlture to net cash flow from operating activitie5 Net movement in funds Depreciation charge Impairment Charge Change in debtor5 Change in creditors Gains on investments 178,7001 137,5701 138,9191 38,282 62,740 147,8331 48,016 1105,5571 Net cash used In operatlng actlvltles 116,597 1142,9441
Pa e14 The Wllllam Wates Memorial Trust Notes to the accounts for the year ended 31 August 2022 Accounting Policies General Information William Wates Memorial Trust is a charity reglstered in England and Wale5 under registration number 1011213. It is governed by its trust deed and ha5 Its registered office address at Wate5 House, Station Approach, Leatherhead. SUey, KT22 7SW. Basis of Accountirbg The finanoal statements have been prepared in accordance with applicable United Kingdom Generally Accepted Accounting Piactice including FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland" and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with FRS 102 Irevi5ed 1 January 20191- ICharitie5 SORP - FRS 1021. The Trustees consider that there are no material uncertainties about the charity's abllity to continue as a going concern. The charity meets the FRS 102 definition of a public benefit entity IPBEI. Irbvestments Listed investment5 are stated at market value, based on the closlng middle tnarket price on the Balance Sheet date. Unlisted investments are stated at cost les5 provision for impairment. Movements a shown in Note5 9 and 10. Differences between the market value of investments at the end of the year and the carrying value are recognised as unrealised gains or losses in the SOFA. Gains or105se5 on investments that are disposed of during the year are accounted for as reali5ed gain5 or105ses in the SOFA. Income recognition All incoming resources are included in the SOFA when the Trust is legally entitled to the income and the amount can be quantified with reasonable accuracy. Tax effective funds from donors and voluntary income are accounted for when any conditions for receipt have been met and there is reasonable assurance of receipt. All other incoming resources are accounted for on an accruals basis. Expenditure recognition Expenditure is recogni5ed in the SOFA when a liability is incurred. Grants payable are recognised when the Trust approves the payment of a grant and communicates the terms of the award to the recipients. The provision for a multi-year grant is recognised when there are no unfulfilled performance condition5 under the control of the Trust that would permit it to avoid making the future payment5, and settlement is probable.
Pa e15 The William Wate5 Memorlal Trust Notes to the account5 for the year ended 31 August 20Z2 {contlnuedl Expenditure recognltlon - continued Costs of raising funds relate to expendlture tsn fundraising actiwties which include all the activities of the subsidiary company. Charitable activities consist of grants committed and SUPPDrt costs of the Trust. Governance costs, which relate to the preparation and Independent Examination of the financial statements, have been allocated to charitable actiwtTe5. Funds All fund5 are unrestricted. Consolidated accounts The financial statements consolidate the accounts of The William Wate5 Memorial Trust and its subsidiary undertaking. Taxation As a charity, the Trust is exempt under current legislation from tax on income and gains to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity. Tanglble fixed asset5 Depreciation is calculated to write down the cost less residual value of fixed assets by equal annual in5talments over their expected useful economic lives. The rate5 applicable are: Computer software - On a 5traight-line basis over five years 2. Analy515 of charitable expendlture 2022 2021 Note5 Grants payable Support costs - govemance 305,711 5,296 477,315 4,270 £311,007 £481,585 3. Analy515 of costs of ralslng funds 2022 2021 Notes Accommodation & food Travel cost5 Wages of Fundraising Staff Other event costs 204,879 59,568 60,695 22.154 6,697 13411 1,999 Total costs of eyents 347,566 8,355 Investment management fees Support costs 5,981 126,726 6,669 68,295 £480,273 £83,319
Pa e16 The William Wate5 Memorial Trust Notes to the accounts for the year ended 31 August 2022 Icontlnuedl 4. Actlvltles for ralslng funds: fundralsing Costs Tour de Force ITdFI incurs costs in respect of accommodation. travel etc. which are passed on to the partTcipants in the event, and are reimbursed directly to TdF. The company 15 not expected to make a profit or a loss on it5 trading actiwtles. 5. Support costs 2022 2021 Governance Costs - Independent examlner's remuneration Governance Costs - Accountancy serwces 5,981 4,270 Support cost5 - charitable activitie5 (note 21 £5,981 £4,270 Event Organiser costs Postage and communication Advertising and promotion Flnance costs and bank charge5 Insurance Hotel, travel and motor costs Depreciation Impairment of Investment - Gambado 96,471 12,974 3,997 10,489 2,184 611 45,619 2,571 11,726 2,541 5,737 101 Support costs - ralslng funds Inote 31 E126,726 £68,295 The Group has no employee512021'. none) No trustee5' remuneration wa5 paid during the year12021: £nil}. Deta?Is of trustees, expenses are glven In note 17. 6. Investment Income 2022 2021 Diwdends 3,198 3,650 Interest receivable: Stockbrokers Bank deposit 1,535 1,666 1,535 1,666 Total investment income £4,733 £5,316
Pa e17 The William Wates Memorlal Trust Notes to the account5 for the year ended 3 1 August 2022 Icontinuedl 7. Charitable expendlture - grants payable 2022 2021 Grants supporting young people,. Abram Wilson Foundation Bay Tree Centre Community Cycle Works Coram Fields Football Beyond Borders Horizons Plymouth Hounslow Action for Youth Livewre Youth Theatre Manorfield Charitable Foundation Motiv8 South Ltd Onwards & Upward5 Organiclea Palace for Life Power2 Teen5 & Toddlers Reaching Higher School of Hard Knocks Scene & Heard Sister Syste Sleep Pod Society Links Spear Brighton Sport5 Dan5 La Ville STAR Scheme Street Doctor5 Street5 of Growth The Kids Network Tonic Music for Mental Health Villiers Park West London Zone YMCA East Surrey 35,C0 30,000 20,000 10,(KJO 28,000 74,815 2,OCIJ 22,000 2,OCKJ 5,OC4) 9,500 20,000 27,000 90,000 27,000 24,000 28,000 2.000 28,000 2,000 29,271 10,000 10,000 2,000 10,OtNJ 75,000 27,000 24,C¥JO 2,500 29,940 50,000 27.000 Total charftable grants payable to institLrtions 305,711 477,315 Grant5 Rescinded/Cancelled £305,711 £477,315
Pa e18 Grants made can be categorised as follows.. Supporting young people: 2022 2021 Mentoring Sports Arts Personal Development Educational Support 83,940 145,500 20,1X)O 12,000 35,000 201,771 279,815 5,000 £305,711 £477,315
Pa e19 8. Tanglble flxed assets Charlty and group Computer software Cost 1 September 2021 Additions 6,600 31 August 2022 6,6 Depreciatlon 1 September 2021 Charge for year 31 August 2022 6,600 6,600 Net book value 31 August 2022 31 August 2021 9. Investments- Quoted Investments 2022 2021 Charity and group Market value at I September 2021 648,822 528,444 Acqui51tions at cost Sale proceeds from disp05a15 211,936 1378,284 14,821 Gain in the year - realised Gainlllos51 in the year- unrealised 4,733 167,4731 5,316 100,241 62,740 105,557 l*larket value at 31 August 2022 E419,734 E648 822
e20 The William Wates Memorial Trust Notes to the accounts for the year ended 3 1 August 2022 (continued) Investments are geographically split as follows.. UK investments Non-UK investments 149,055 270,679 210,773 438,049 E419,734 £648,822 10. Investments - UK Unquoted Investments Grou 2021 Charl 2021 2022 2022 Unquoted Investments al Tour de Force Cycling Limited 10,(X)O Ordinary 5hare5 of E1 each 10,000 £10,000 10,Tr)0 bl Gambado Limited Cost brought forward at 1 September 2021 Impaimient in the year C05t5 carried forward at 31 August 2022 12,000 12.000 12,000 12,000 £12,000 £12.000 £12,000 £12,000 Total unquoted investment5 held £12,000 £12,ocrfJ £22,000 £22,000 11. Debtors and prepayments Grou 2021 Charl 2021 2022 2022 Accrued income Income tax repayment Prepayment5 and other debtors 53,906 22,702 53,906 22,702 37,959 £91,865 30,244 £52,946 £91,406 E117,273
Pa e21 The Wllllam Wates Memorial Trust Note5 to the accounts for the year ended 3 1 August 2022 {contlnuedl 12. Cash held Grou 2021 Charlt 2021 2022 2022 Smith & William50n Cash account 17,691 2,592 17,691 2,592 Weatherbys Current Account - Tour de Force 334 709 334 709 353,737 174,782 353,737 174,782 Co-op -Tour de Force 35,080 79,008 Petty cash 15 £406,857 £257,106 £371,762 C178,083 13. Grants payable Charity and group 2022 2021 Reconciliation of grants payable.. Commitments brought forward 325,295 230,169 Commitments made during the year Inote 7 305,711 477,315 631,006 707,484 Grant5 paid during the year 1330,9371 1382,1891 Commitments at 31 August 2022 £300,069 £325,295 Payable within one year Payable beyond one year 188,832 111,237 223,795 101,500 £369,069 E325,295
Pa e22 The Vlllllam Wates IAemorlal Trust Notes to the accounts for the year ended 31 August 2022 Icontlnued) 14. Other creditors Grou 2021 Charit 2021 2022 2022 Tour de Force contributions Deferred income Independent Exafflination & accountancy costs: 42,130 William Wates Memorial Tnjst Tour de Force Cycling Limited Investment management fees Other creditors 4,900 4.380 4,91XJ 4,380 350 67,684 E72,934 350 4,696 £9,426 350 350 £47,380 E4,730 Subsldlary undertaklng The charity holds a 100% owned subsidiary company, Tour de Force Cycling Limited, ctsmpany number 07834337, which organise5 and manages fundraising events which generate donations for the charity. The aggregate amounts of the subsidiary's assets, ITabilitie5 and funds at the year-end are: 2022 2021 Current assets Current liabilities 77,685 67,6851 10,000 109,266 199,2661 10,(K)O Aggregate share capital and shareholders, funds The following is a summary of the turnover and expenditure of the subsidiary for the year.. 2022 2021 Turnover Cost of sales Other operating income Administration expenses Interest receivable 327,978 1340,303 136,702 1124,377 97,834 16,385 131,9471 159.5021 Profit for the year 16. Unrestrlcted trust fund Charlty and group Balance brought fOard at 1 September 2021 Net incoming resources for the year endeil 31 August 2022 Balance carried forward at 31 August 2022 636,153 I78,7) £557,453
Pa e23 The Wllllam Wates Memorial Trust Notes to the accounts for the year ended 31 August 2022 {corbtlnued} 17. Related party tran5action5 The charity and Group have an unquoted investment in Gambado LTmited, a company incorporated In Great Britain. The investment is 0.58% 12021: 0.58%) of the share capital of that company. A number of the board of Trustees are directors and they and their related family trusts, family members and company have a shareholding of 46.16%12021: 46.16%).