2023-08-31-accounts - The William Wates Memorial Trust

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Contents			Pages
Legal and Administrative		information
Trustees' Report			3-8
Independent	Examiner's	Report
Consolidated	Statement	of Financial Activities	10
Consolidated	Balance Sheet
Charity Balance Sheet			12
Consolidated	Statement	of Cash Flows	13
Notes to the	accounts		14-23

Name and	registered	registered	The charity is	known as The	known as The	known as The	William Wates Memorial	William Wates Memorial	William Wates Memorial
ofcharity			and its registered		number	is		1011213.
Status			The charity was established				by a Charitable
			Trust Deed dated 2 April 1992. Its objects
			are described	in the Managing				Trustees'	Report
			on pages 3 to 8.
Principal	address		Wates House
			Station Approach
			Leatherhead
			Surrey
			KT22 7SW
Trustees			Andrew Wates	(Chairman)
			Sarah Wates
			Timothy Wates
			Jonathan Wates
			Richard Wates
			Monty Wates
			Hayden Bailey
Bankers			Weatherbys Private Bank
			London Office
			22 Sackville Street
			London
			W1S 3DN
Investment		Managers	Evelyn Partners
			Onslow House
			Onslow Street
			Guildford
			Surrey
			GU1 4TL
Solicitors			Boodle Hatfield
			6Worcester Street
			Oxford
			OX1 2BX
Independent		examiner	Susan Kumar ACA
			Holden Granat	LLP Chartered				Accountants
			Springfield House
			23 Oatlands Drive
			Weybridge
			Surrey
			KT13 9LZ

Consolidated Statement of	Financial A	ctiv	ities for the y	ear ended 31 August 202	3
				2023	2022
			Notes	E	E
Income
Donations received				484,229	442,609
Activities for generating	funds			465,013	327,978
Investment income				6,157	4,733
Total income				955,399	775,320
Expenditure
Charitable activities				484,858	311,007
Costs of raising funds				579,567	480,273
Total expenditure				1,064,425	791,280
Net expenditure before
gains/(losses) on investments				(109,026)	(15,960)
Gains on revaluation of investments		9,10		(12,880)	(62,740)
Net movement in funds				(121,906)	(78,700)
Reconciliation offunds
Total funds brought forward	at 1 September		2022	557,453	636,153
Total funds carried forward	at 31 August	2023		E435,547	E557,453

					2023		2022
			Notes		E		E
Fixed Assets
Tangible fixed assets			8
Quoted investments			9		412,520		419,734
Unquoted investments			10				12,000
					412,520		431,734
Current Assets
Debtors and prepayments			11	123,898		91,865
Cash at bank and in	hand		12	392,089		406,857
				515,987		498,722
Liabilities
Creditors: Amounts	falling	due within
one year
Grants payable			13	248,943		188,832
Other creditors			14	96,121		72,934
				345,064		261,766
Net current assets					170,923		236,956
Total assets less current		liabilities			583,443		668,690
Creditors: Amounts	falling	due after
more than one year
Grants payable			13		147,896		111,237
Net assets					E435,547		E557,453
Represented by:
Unrestricted Trust Fund			16		E435,547		E557,453

The William Wates Memo	The William Wates Memo	rial Trust
Charity Balance Sheet at		31 August 2023
					2023		2022
			Notes		E		E
Fixed Assets
Tangible fixed assets			8
Quoted investments			9		415,520		419,734
Unquoted investments			10		10,000		22,000
					422,520		441,734
Debtors and prepayments			11	123,439		91,406
Cash at bank and in	hand		12	388,313		371,762
				511,752		463,168
Liabilities
Creditors: Amounts	falling	due within
one year
Grants payable			13	248,943		188,832
Other creditors			14	101,886		47,380
				350,829		236,212
Net current assets					160,923		226,956
Total assets less current		liabilities			583,443		668,690
Creditors: Amounts	falling	due after
more than one year
Grants payable			13		147,896		111,237
Net assets					E435,547		E557,453
Represented by:
Unrestricted Trust Fund			16		E435,547		E557,453

Consolidated Statement o	f	Cash Flow	s for th	e year ended	31 August 2023
					2023	2022
			Notes		E	E
Net cash used in operating		activities	A		(12,563)	(16,597)
Investing activities
Additions to investments					(105,116)	(211,936)
Proceeds on disposal of	investments				111,451	378,284
Net cash generated from	/	(used in) investing		activities	6,335	166,348
Net increase / (decrease)	in cash and		cash equivalents		(6,228)	149,751
Cash and cash equivalents	at beginning		of the	year	406,857	257,106
Cash and cash equivalents		at end ofyear			E400,629	E406,857
A. Reconciliation of net expenditure			to net cash flow from		operating activities
Net movement in funds					(113,366)	(78,700)
Depreciation charge
Impairment Charge
Change in debtors					(32,033)	(38,919)
Change in creditors					119,957	38,282
Gains on investments					12,879	62,740
Net cash used in operating		activities			(12,563)	(16,597)

2.	Analysis ofcharitable	exp	enditure
					2023	2022
				Notes	E	E
	Grants payable				479,154	305,711
	Support costs - governance				5,704	5,296
					E484,858	E311,007
3.	Analysis of costs of raising		funds
					2023	2022
				Notes	E	E
	Accommodation Et food				298,270	204,879
	Travel costs				71,094	59,568
	Wages of Fundraising	Staff			74,484	60,695
	Other event costs				25,655	22, 154
	Total costs of events				469,503	347,566
	Investment management		fees		5,033	5,981
	Support costs				105,031	126,726
					E579,567	E480,273

make a profit or a loss on its tra . Support costs	ding	a	ctivities	.
					2023	2022
					E	E
Governance Costs - Independent	examiner's			remuneration	5,704	5,296
Governance Costs —Accountancy	services
Support costs —charitable activities		(note 2)			E5,704	E5,296
Event Organiser costs					81,451	96,471
Postage and communication					10,786	12,974
Advertising and promotion					1,248	3,997
Finance costs and bank charges					2,284	10,489
Insurance					8,017	2,184
Hotel, travel and motor costs					1,245	611
Depreciation
Impairment of Investment —Gambado
Support costs —raising funds (note		3)			E105,031	E126,726
The Group has no employees (2022:		none)
No trustees' remuneration was paid		during the year (2022: Enil).
Details of trustees' expenses are	given		in note	17.
6.Investment income

nvestment incom	e
			2023		2022
			E		E
Dividends			4,077		3,198
Interest receivable:
Stockbrokers		2,080		1,535
Bank deposit
			2,080		1,535
Total investment	income		E6,157		E4,733

							~Pa e 17
The William Wates	Memorial				Trust
Notes to the accounts for			the		year ended 31 August 2023 (continued)
7. Charitable expenditure				- grants payable		2023	2022
						E	E
Grants supporting		young		people;
Abram Wilson Foundation						10,000
Bay Tree Centre							30,000
Community Cycle		Works					20,000
Eikon Charity						28,500
Future Frontiers						65,000
Horizons Plymouth							2,000
Livewire Youth Theatre							2,000
Mid Surrey Community			Fridges			1,000
Motiv8 South Ltd						30,000	9,500
Only Connect UK						20,000
Onwards & Upwards							20,000
Oxford Hub						30,000
Queens Crescent		Community			Assoc QCCA	30,000
QPR in the Community			Trust			30,000
Reaching Higher							24,000
Scene & Heard							2,000
Sister System							28,000
Society Links							29,271
Sports Dans La Ville						15,000	10,000
STAR Scheme						69,000
Street Doctors							75,000
Sutton Volunteer		Centre				130,654
Talent Ed Education						20,000
The Kids Network							24,000
Villiers Park							29,940
Total charitable	grants		payable to institutions			479,154	305,711
Grants Rescinded/Cancelled
						E479,154	E305,711

Supporting		young people:	2023	2022
			E	E
Mentoring			274,154	83,940
Sports			99,000	20,000
Music & Arts			10,000
Personal	Development		96,000	201,771
Educational		Support
			E479,154	E305,711

angible fixed assets
Charity and group
	Computer	software
		E
Cost
1 September 2022		6,600
Additions
31 August 2023		6,600
Depreciation
1 September 2022		6,600
Charge for year
31 August 2023		6,600
Net book value
31 August 2023
31 August 2022

nvestments	- Quoted Invest	ments
			2023	2022
Charity and	group		E	E
Market value at 1 September		2022	419,734	648,822
Acquisitions	at cost		105,116	211,936
Sale proceeds from disposals			(102,911)	(378,284)
Gain in the	year —realised		6,157	4,733
Gain/(loss)	in the year —unrealised		(15,576)	(67,473)
			~9,419	~62,740
Market value at 31 August		2023	E412,520	E419,734

	Investments are geographically	split as follows:
	UK investments		148,765	149,055
	Non-UK investments		263,755	270,679
			E412,520	E419,734
10.	Investments - UK Unquoted	Investments

nvestments - UK Unq	uoted Investme	nts
				Grou		Charit
			2023	2022	2023	2022
Unquoted investments			E	E	E	E
a) Tour de Force Cycling Limited
10,000 Ordinary shares of E1 each					10,000	10,000
					E10,000	E10,000
b) Gambado Limited
Cost brought forward	at 1 September	2021	12,000	12,000	12,000	12,000
Impairment/Disposal	in the year		(12,000)		(12,000)
Costs carried forward	at 31 August 2022			E12,000		E12,000
Total unquoted investments held				E12,000	E12,000	E22,000

Debtors and	prepayments
			Grou		Charit
		2023	2022	2023	2022
		E	E	E	E
Accrued income		85,939	53,906	85,939	53,906
Income tax	repayment
Prepayments	and other debtors	37,959	37,959	37,500	37,500
		E126,446	E91,865	E123,439	E91,406

12.	Cash held	Cash held
							Grou		Charit
						2023	2022	2023	2022
						E	E	E	E
	Smith &			- Cash		16,610	17,691	16,610	17,691
	Williamson			account
	Weatherbys			- Current		556	334	556	334
				Account
				- Tour de		371,147	353,737	371,147	353,737
				Force
	Co-op			-Tour de		3,761	35,080
				Force
	Petty cash					15	15
						E392,089	E406,857	E388,313	E371,762
13.	Grants	payable
	Charity	and group
								2023	2022
	Reconciliation			of grants	payable:			E	E
	Commitments		brought		forward			300,069	325,295
	Commitments		made during the year (note 7)					479,154	305,711
								779,223	631,006
	Grants	paid during the			year			(382,384)	(330,937)
	Commitments		at 31 August 2022					E396,839	E300,069
	Payable	within		one year				248,943	188,832
	Payable	beyond		one year				147,896	111,237
								E396,839	E300,069

Other creditors	Other creditors
					Grou		Charit
				2023	2022	2023	2022
				E	E	E	E
Tour de Force contributions						96,189	42,130
Deferred income
Independent	Examination		& accountancy
costs:
	- William Wates		Memorial Trust	5,347	4,900	5,347	4,900
	- Tour de Force		Cycling Limited
Investment	management	fees		350	350	350	350
Other creditors				90,424	67,684
				E96,121	E72,934	E101,886	E47,380

the char are:	ity. The	aggrega	te a	mounts ofthe	subsidiary's assets,	liabilities and funds at t	he year-end
						2023	2022
						E	E
Current	assets					100,421	77,685
Current	liabilities					(90,421)	(67,685)
Aggregate share		capital	and	shareholders'	funds	10,000	10,000

The following i	s a summary ofthe turnover and	expenditure ofthe subsidiary for the	year:
		2023	2022
		E	E
Turnover		465,013	327,978
Cost of sales		(460,626)	(340,303)
Other operating	income	99,055	136,702
Administration	expenses	(103,442)	(124,377)
Interest receivable
Profit for the year

					~Pa e 23
The William Wates Memorial		Trust
Notes	to the accounts for the	year ended 31	August 2023 (continued)
16.	Unrestricted trust fund
	Charity and group
	Balance brought forward	at 1 September	2022		557,453
	Net incoming resources	for the year ended		31 August 2023	(121,906)
	Balance carried forward	at 31 August 2023			E435,547