The Wllllam Wate5 Memorial Trust
Report and Flnandal Statements
Year Ended
31 August 2022
Charit No: 1011213

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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

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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

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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 p￿ferablY 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.

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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.
Rese￿e$ 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.

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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 C0￿mittee
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

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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 p￿paration 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

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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.

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e 11
The Wllliam Wates Memorlal Trust
Consolldated Balance Sheet at 31 August 2022
2022
2021
Notes
Fixed Assets
Tangible fixed assets
Q￿oted 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

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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

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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

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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.
SU￿ey,
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.

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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

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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

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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,C￿0
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 fO￿ard 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%).