The Wllllwn Wates Alenwial Trust Rem and Financial Statements Year Ended 31 Auwst 2025 Cha No: 1011213 Pa The Wllllam Wates Ikmrial T￿￿t Report and Financial Statements for the year ended 31 August 2025 Contents Page5 Legal and Administrative inforrnatw)n Trustees, RetK)rt Independent Examiner's Repx)rt Consolldate(I Stateyment of Financial ktivities Consolidated Balan￿ Sheet 10 Chartty Balance Str*et 11 Consolidated Statement of Cash FiTh¥s 12 Notes to the accounts 13-22 The Willlam Wate5 Ikmrlal Trust Legal and Administratlve Informatlon Name and re8lstered number of charity Charity is kTh)wn as The William Wates Memorlal Trust and Its registered nLvnber is 1011213. Status The chadty was established by a Charftable TnJ5t Deed dated 2 April 19)2. Its objcfts are described In the I•Anaging Trustees. Rewrt on page5 3 to 7. Prlnclpal adthess Wates House Statlon 4Trproach Leathefhead Jrrey 27SW Trustees Irew Wates (chai￿nan) Sarah Wates TiFTh)thy Wates Jonathan Wates Richard Wates Aknnty Wate5 Hay&n 8ail Bankers Weatherby5 Private Bank L(mtkn Office 22 Sackville Street Lonth W153DN Investment Managers Eve1￿ Partners Onsiow House Onslow Street Gulldford ey GU14TL Sollcltors Bcodle Hatfield LLP 240 Blackfriar5 Road Lon(k)n SE18NW Independent Examlner Susan Kumar ACA Fkfylkn Granat LLP Chartered AcC￿ntants Springfield House 23 Oatlands Drive Weybridge Surrey K[13 9LZ Pa The Wllllam Wates meTh￿rIal Trust Report of the Managing Trustees for the year ended 31 August 2025 The Managing Trustee5 present thelr report for the year en(kd 31 ￿aUSt 2025. Objective5 and Artlvftles Under tIE temis of Trust tleed, the objective5 of the charlty are to pay or apply the income land as much of the capital of the Trust FLmd as they see fft.) as ￿ Tru5tee5 may in their dlscretlon determine, for such charitable purpose5. The charity seeks to keep the memory alive of William Wates {1977-19961, ￿￿$ tragically kllled when trayelling in Central America. Its main aim is to cYMble dlsao￿antaged young people to fulfil their tK)tential. In order to achieve that, the TnJstee5 seek to target initiatlves related to sport, art and educatlon for young people, which can create an entry ￿Int for engagement and (ievelopment. The Trustees a150 ￿$h to support charities that traln the trainer, so that a 'ripple effect. of Jx)sitive change can happen be￿d the grant made. In pursuit of the above objective5, and in Order to raise the majority of the charity's funds, WWMT has created a trading arm (Tojr de Force Cycling Ltd). which organise5 the 'Le L(x)p' cycllng event. Thi5 event Is run annually. and t1￿ most recent eV￿t is discussed in fTNxe detall below. The event allow5 amateur cyclists with a broad range of eXperie￿e and ability to cycle part, or in some cases all, of the route of the Tour de France in the current year. The event is also LEsed to introduce the riders directly to some of the bel￿ficiary choritfjes. Opportunities are a150 taken for young people being 5upp)rted by the charity to take part In event itself. The chafity supports and underwrites the event Costs, and ￿me of the organisational running costs of Le Loop on an annual basis, wth rider's direct costs. transport, accomm(xYatlon, food etc being paid by the partlcipants. Riders undertake to fundraise via (Jonations to at least ￿ad1 the set target for their level of participation in the event. All funds ra?sed are paid directly to WWMT. Govemance The Tr￿t was established by Mr ATA Wates on 2 Aprfl 1992 and wa5 registered as a charlty under Section 4 of the Charities Act 1960. Trust was then known as the Henfold Trust. The Trustees changed Its name to the William Wates Ilemrial T￿￿t on 21 P*)ven*w 1997. The kN)wer to aptK)int or additional TrLStees ¥ests in the settlor during his lifetlme. Pa The Wllllam Wates Ikmrial Trust Report of the Managing Trustees for the year ended 31 A￿￿$t 2025 (contlnued Ell8ibility guldellnes Projects should help the most disadvantaged 5-19 year ol)ked utMM faw)urably The Trustees prefer to support projects that contIn4￿ to have impact after our SLIp￿rt has ended. Helping a young per￿n get a coaching qualrfication Is preferable to facilitating that same young person to play fwtball once a week. The 5UStalnability of for yourp4 people." TheTnJstees Particularly want to support projects that have a continuing IMp￿t on individuals long after s￿lfiC (sometimes intensivel projects corne to an end. This may be in ￿)￿se or coMettk)nswith D￿r I￿al organisatlons. The artlvltles of the Charlty included". Supp)rting the or4ani5aticffl of ￿ Le Loop cycllng event as pri￿1paI fundralsing initiatlve for the charity. The budget for thls sUp￿rt is ba￿ on a req￿t prodLKed by Tour de Force Cycling Ltd Itradlng as Le Lcopl prepared for each anr7ual event, rewewed by the company's Poard, and then presented for approval by the Trustees. Tour De Force cydlng ha5 its own Board. chaired ty ￿ck Wates and including Andr&Y Wates. both of whom are Trustees of WWMT. The Board also has an inWendent Director. Duncan Straugh(¥). With the assfsiance of the Executive Committee, irKludlng Sarah Perry, Chief Executlve of Le Loop, the Lm￿rd mnltors all aspects of the running of the event. Including preparation of budgets for appri)val, and ￿￿rtS to the Trustee5. The Le Loop event has been run Since 2012 on an annijal basis and is ￿￿1[ established. The SLKcess of the 2025 event demonstrates the continued and significant levels of sUp￿rt and engagement from the riders. It also represent5 the enormous effort of the whole organising team led by Sarah Perry and Kate Norfis. xKcessfully raise(J a total of £469.K11 in the year. The level of fundraising from Le Loop. comblned with a prudent reserve posltlon established In prevFou5 years, has enabled WWMT to continue to fund all its cThnmltted grants and project5, as well as considering new grants. We have Th)w made cumulative grants of over £6 mlllion. It Is the TnJ5t'5 usual practi￿ to make nwjlti-year grant awards to SUPP)rted charities vthere that is appropriate. The Intention is to malntain reserves at a level to suppx)rt this. In addition, the resetves ￿11 be held at a level to allow WWMT to support the necessary Contributi￿ to enable Le Loop to take place. Pa The Willlam Wates l*rnrlal Trust Report of the Mawlns Trustees for the year ended 31 August 2025 (contlnued) The Trustees regularly review Level of re￿r¥e5. current fundraising and commitrr￿nt5 througtrK)ut the year. As ￿EntIoned previously, each year the dirert costs of running the Le Loop event a￿ expected to be met by the contributions ￿e7Ved from ri(kns In respect of their accommodation and other direct Costs. In 2025, this was achieved with the incoffE from riders totalling £455,134 fully covering eV￿t costs of [407,692 and therefore contribLrting to the In(knrect cost5 of funnlng the event. Inote 3] During 2025 the Trustees financed £93.493 of other TiyJr de Force Cycling Ltd expenses 12024: £68,147). The xale of this caused by Event ￿ganISer costs kcoming subject to VAT. This year £484,141 in (k)natlon was ralsed for the Tntst by riders 1£469,801} and other supporter51£14,3401. Thi5 is lower than 2024.5 figure 1£522.9211, which benefited from irKome rolled over fmm the carKellation and changes to 2023 Le LOLV. The 2023 event benefitted from additional riders who carried forward their partiopation from the cancelled covid events. There has b*n strong support for the Le Loop event In 2026. vthich wll run from 27th June to 20th July 2026. The Grand Depart Is in BarCeL(￿a and the finale in Paris. The e5tabli5hed popularfty of the event Is shthyn by the f￿t that close to 18Z riders have signed up for the event this year. The Trustees aim to Continl￿SUP￿xJrtsfig the charitie5 that best meet theif Criterla. continue to champion particular charities personally, and to visit each charity at least once, before any grants are approved. In addition to other apprqjriate due dlligence. The Trustees Pr￿duCe a periodTC newsletter reportln8 the progress of each charity supp)rted by WWMT. The newsletter Is being distributed via email and hartkopy to interested parties. Recruitment and Traininq of Trustees The TrUst￿S have identified training and development as a key area within the Trusis strategic planning. This is to ensure that member5 of the Wates Family aW￿lated with the work of the charity have the relevant skills, cornpeten￿, knowledge and understanding [￿eded to deliver the Trust's mission effectively, sustaining and Improving the overall ￿rfOrmal￿e of the Trust and it5 grant making. Trustees gain exKtrience a5 members of the Trust's Grant Committee and through involvement in a range of other charitable initiative5. take an active role in the grant assessment process and related due diligence, incltjding visits to the Applicants, as well as a programme of wsits to additional organisation5 and Institutions. When relevant, Trustees undertake formal trainlng conducted by bod6es such as the Association of Charftable Foundations. The Trustees also seek regular irKlependent review of the Tntst's grant making. Pa The Wllllam Wate5 A*morlal Tr￿¢ Report of the Managin8 Trustees for the year ended 31 A￿ust 2025 (contlnuedl Rlsk Manager￿t In light of the ongolng $￿te55 of fundrais?ng, the Trustees hold athquate funds to meet all current commitments and Ilabilltles. The Trustee5 have identified and examined the major risks to whlch the charity is eX[￿sed and have established procedures for taking all reasonable steps to lessen or mltlgate them. The Trustees re￿eW these risk managerr*nt Pr{KedU￿ wularly. The prirKipal risk Is that the grant making capacity of the charfty is largely deFendent on a single annual event, Le Loop. Consequently, the Trustees always keep gJfficient reserves to fijlfil cwrent commitments. Most grants are now restricted to 2 years. Reserves Polky It Is wllcy of the TnJ5tees to maintain unrestrlcted funth, which are the free rese￿e$ of the charity* to meet approved but uncommitted grants to (pjalifying charities. A5 discussed atrKfyve, current level of reserves also enables ￿￿T to have the confidence to continlt to yJppK)rt its Strategy of commlttlng to more major initiatives, soMetin￿ over a multi-year grant pertod. Free reserves are currently £371,176 12024- £348,362) Publlc Benefft The p￿￿1ple$ of public benefit, as ￿fined by the Charity Commission, have been noted by Tfustees. The Trustees confFrm having given regard to the Charity Commission's swklatKe and state their belief that the Trust fulfils this request. Investments The Trust's investments include b)th UK arKJ Non-UK listed securitie5 on which the Trustees have taken the advice of their Investment Managers. An unquoted inYestment1s held, which is Tour De Four Cycllng Ltd which Is a wholly OWr￿ Trading ￿b51d1ary (￿te 101 Flnandal revlew The consolidated accounts inclu(k combiT*d results of the Trust and Its wlK)Ily owned subsidiary Tour de Force Cycling Limited. As descrlbed atx)ve. Tour de Force Cycling Llmited carrie5 Out fundraising activities on behalf of the Trust a￿1 as &Kh It is Mt intended to make a proflt. Any 5urplu5 created is transferred to WWMT. Donation, fundraising and investment Incor￿ for the year 202412025 were £949,801 12024: £1,036,839). Grants of £368,234 12024: £566,378) were committed during the year. (s￿ rTrote 7 of the accounts). Grant5 actually paid out durlng the flnancial year ￿re £458,854, 12024 £510,859) In principle, support for continuing initiatives as of 31 A￿uSt 2025 was E361.73812024- £452.358). As at 31 August 2025 unrestricted r￿r¥e5 of ￿ Trust and its subsidiary arrwjunted to £371.176 12024: £348.3621. The Balance Sheet date coincides With the eThl of the fundraising of the Le event. Typically* there are two Grants CommTttee meetings e￿h year, ￿th the first of the new reporting year being in October 2025. Pa The William Wates Memrial Tnst Report of the Mana8ln8 Trwtees for the year ended 31 AuBu5t 2025 Icontinued) During the year ended 31° August 2025, Vl*VMT ￿e1Ved total donations of £484,141 of which £467,785 related to fund raising efforts of Le Loop riders. The Trustees are happy with the overall flnancial perfomance of the charlty. Statement of T￿￿tee5, resp)nslbilltSes TheTrustees are responsible for preparing the Annual Rerx)rt of theTr￿tee$ and the (Inar￿la1 statements In accordance with applicable law and United King(kyn Account5ng Standards (United Kingdom Generally Accepted Accounting Practice). The law appllcable to charitie5 in England & Wale5 requires Trustees to prepare financial State￿￿ntS for each financial year which give a true and fair view of state of affairs of the charity and the group and of the incoming re9Jurces and applicatK)n of re51xJrces of the charity and the group for that year. In preparing these financial statemerbt5. the Trust&s a￿ requfired to: select suitable accounting ￿LiCIeS and then apply them C￿51$tentIy. observe the methods and princ?ple5 in the Charitie5 SORP: make judgments and accounting estimate5 that are ￿aSOnabLe and pnJ8 and the provisions of the trust deed. It is also reSp￿S7b1e for safeguarding the assets of the charity and the group and hence for taking reag)nable steps for the prevention and detection of fraud and other irregularities. Approved by the Board of Trustees of The William Wates )Men￿rial Trust on and slgned on its behalf by Andrew Wa Steel Date Pa The William Wates Iknwial Tn Independent Examlrer's Rel￿ to the Trustees of the William Wates M*morial Trust INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF THE ￿LUA1￿ WATES MEMORIAL TRUST I rew)rt to the trustees on my examlnation of acctyjnts of The William Wates A4env)rial Trust for the year ended 31 August 2023, vthich comprise the Staten*nt of Financial Activities, the Balance Sheetlthe Statement of Financlal PosFtion, the Consolidated Stata))ent of Financfal Actiwties, the Consolidated and Charfty BalarKe Sheets, the Consolidate(I Statement of Cash Flo￿ and the r￿rteS to the accounts, includlng a summary of slgnrficant accounting pk)licies. Respectlye respon5ibllltles of trustees and ex4•niner and basts of reFwt As the charity's trustees you are responsible for the preparatlon of the accounts in aCcOrda￿e with the requirements of the Charities Act 2011 1.the Act.). I report in respect of my examlnation of the chartty'5 accounts carried out ￿n￿r section 145 of the Act and in carrying out my examination I have followed all the appllcable Directions given by the Chaiity Commission urKler section 14515){bl of the A£t. Independent examlner's stateffent Slnce the charity's gross Inc0Th￿ exceeded £250.IIX) ￿r examiner must ￿ a member of a W Ilsted in section 145 of the Act. I confirm that l am qualified to undertake the examination ￿aUSe l am a member of The In5t?tute of Chartered kcountants in EngLand & Wales, whlch Is one of the Ilsted bodies. I have completed my examfnation. I confim) that ￿ material matters have Corr￿ to my attention in connection with the examination glving me cause to believe that In any material respect: accountiTr4 records were not kept in respcft of the chartty as rewired by sett￿n 130 of the Act. or the accounts Ik) ￿tt accord ￿th those recor(ts" or the accounts do not comply wlth the applicable requirements concerning the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 21YJ8 other than any requirement that the accounts gfve a true and falr vie*V ¥thich Is 1)ot a matter C￿SI￿red as part of an independent examination. I have concerns and have come across other matters in connection wlth the examTnatlon to which attention should be dravm In this report In or￿[ to enabte a proper ut)derstanding of ￿ actounts to be reached. Susan Kumar ACA Member of the Institlrte of Chartered Acctyjntants in England and Wales Holden Granat LLP Chartered kc(MJntants Springfield House 23 Oatlands Drive Weybrldge KT13 9LZ Date: Pa The Willlam Wate5 Mernrlal Tr￿t Consolldated Statement of Financial Actlvltles for the year ended 31 August 2025 2025 2024 Note5 Income Donation5 recelved Activities for generating fuThJs Investment income Bank Interest Receivable 484,141 455,134 5,933 4.593 949,801 522,921 503,(KN) 7,205 3,713 1.036,839 Total income Expendlture Charitable actlvltles Costs of raising funds - Event Costs Costs of raising funds - suP￿rt Costs Total expendlture 377,126 407,692 157,099 941,917 580,799 468,092 120,637 1,169,528 Net expenditure before 8ain51llossesl ffl investments 1132,68891 Gains on revaluatlon of inve5trnentS 9,10 14.930 22,814 45,YM 187,185) Net r￿Vernent in funds Rec(NKiliotion of funds Total funds brought forward at 1 September 2024 Total funds carried forward at 31 August 2025 348,362 £371,176 435,547 £348,362 l)uring both financlal years fund5 Ct¥)slste(J entirely of unrestrirted fund5. All operations are classed as continuing. Pa The Willlam Wates Memorlal Trust e10 Consolidated Balance Sheet at 31 August 2025 2025 2024 *)te5 Flxed Assets Tangible fixed assets Quoted investments Unquoted investments 486,799 464,614 10 486,799 Current Assets Debtors and Pfepayments Cash at bank and in hand 464,614 118,665 204,673 323,338 129,240 270,808 12 Llabilltles Creditor5'. AJTrJunts falling due withln one year Grants payable Other creditors 13 14 238,138 77,223 315,361 322,377 63,942 386,319 Net current assets 7,977 494,716 13,729 478,343 Total assets less current liabilities Credltors: Amounts falling due after more than one year Grants payable Net assets 13 123,6 [371.176 129,981 £348,362 Represented by: Unrestricted Trust Fund 16 £371.176 £348,362 Approved by the Trustees Andrew TIn￿thY Wates Trustee Date Pa The William Wates Alenwrlal Tn Charity Balance Sheet at 31 Auwrt 2025 2025 2024 tes Flxed A55ets Tangible fixed as*ts Quoted Investments Unquoted investfTEnts 486,799 10,(MXI 496.799 464,614 lo,￿} 474,614 io Debtors and prepayments Cash at bank and In hand 118.665 194,173 312,838 129.240 270.544 399,784 12 Llabilities Creditor5: Amounts falling due withln one year Grants payable Other cred?tOf5 13 14 238,138 76,723 314.861 322,377 73,678 396,055 Net current assets 12,0231 494.776 3,729 478,343 Total a￿ts less current liabilitles Credltors.. Amount5 falling due after more than one year Grants payable Net assets 13 123,6(Kl £371,176 129,981 £348,362 Represented by: Unrestricted Trust Fund 16 C371,176 £348,362 Approved by the Trustees Andr Trustee ates Tlmothy Wates Tnjst Date Pa The Wllllam Wates Alemorlal Tntst Consolldated Statement of Cash Flows for the yew ended 31 August 2025 2025 2024 tes Net cash used In operatlng actfvltles (s8,8￿) 1114,6911 Investing actlvltles Additions to Investments in portfolio Proceeds on disr*)sal of investn￿t$ in portfolK) I186,3(￿} 179.051 168,972) 62.382 Net cash 8enerated from l (used in) investln8 activities 17.255) I6,5￿) Net Increase l (decrease) In and cash equivalents (66,135 1121.281) Cash a￿1 cash equT¥alents at teginning of the year 270.81 392,089 Cash and cash equivalents at end of year £204,673 £270.80 A. Recondllatlon of net expenditure to net cash flow from operating thtles Net n￿¥ement in funds Depreciatlon charge Impairment Charge Change In L*btor5 Change in credltor5 Gains on investments 22,814 {87.185) 10,575 177,3391 114.9301 {5.342) 23,338 145,502} Net cash used In operating actfvltle5 158,880) If14,6911 Pa The Wllllam Wates AlerThylal Trust Notes to the Kcounts for the year ended 31 August 2024 1. Accountlng Policies General informatlon Willlam Wates Memrfal Trust is a charity registered in England and Wales under registration number 1011213. It is governed by its trust deed and has its registered office address at Wates House, Station roach, Leathethead, Surrey. Kr22 75W. Basls of Accountlng The financial ststefflents have prepared in accorda￿e with applicable United King(knm Generally Accepted Accounting Practice including FRS 102 'Yhe Fonancial Reporting Standard applicable in the United King¢A)m and the Republic of Irelat)d- and Accountlng and ReFK)rting by Charitles: State￿Ent of Recommended Pfactlce applicable to Charities preparing their accounts in accordance with FRS 102 (revised 1 January 20191- {Charitie5 SORP . FRS 1021. The Trustees consider that there are no materlal uncertaintie5 atMxJt the charity's abilTrty to continue as a going concem. The charity meets ￿ FRS 102 dèfinltlon of a public benefit entity {PBEI. Investff*nts Llsted investments ère stated at market value, based on the closing middle market price on the Balance Sheet date. Unlisted inYe5trnents are stated at C05t less provision for impaimient. Jlb)vements are sh)wn in Note5 9 and 10. Difference5 between the market valLt of investment5 at the of the year and the carrying value are recognised as unreali5ed galns or losses in the SOFA. Gains or Ios5e5 on Investment5 that are dis[￿ of during the year are accounted for as realised galns or losses in the SOFA. Inc￿ recognltlon All incoming resources are included in the SOFA when the Trust 15 legally entitled to the Incor￿ and the ar￿unt can quantified wth 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 accoLbnted for on an accruals basis. Expendlture reCO￿lt1¢n Expenditure 15 recognlsed in the SCFA when a liability is incurred. Grants payable are recognised the Trust approves the payTnent of a grant and communicates the terms of the award to the recipients. The prow5ion for a multi-year grant is recognised when there are unfulfilled performance conditions under the control of the Trust that would permit it to avoid making the f￿Ure payments, and settlement is probable. Pa e14 The Wllllam Wates Alemrlal Trust Notes to the accounts for the yw e￿ 31 Au8USt 20241contlnued Expenditure recognltlon - contIn￿l Costs of ralsing funds relate to expen(titU￿ on fundraisTng artlvFtles which Include all the activities of the subsidiary company. Charitable activities conslst of grant5 commltted and 5UPPOrt c￿ts of the Trust. Govemance costs, whlch relate to preparation and IndepeThJent Examination of the ffnancial stateft￿ts, have been all￿ated to charitable activitie5. FuThJs All funds a￿ unrestricted. Consolldated accounts The financlal statements cong)iidate the accoLmts of The Vlllllam Wates m￿￿)r[aL Trust and its yJbsidTary undertaking. Taxatlon As a charity> the Trust TS exempt under current legislatlon from tax on Income and galns to the extent that these are applied to its charitable objects. ￿ tax charges have arisen In the Charity. Tanglble fixed osets Depreciatfon is calculated to write (h)wn ￿ cost le55 resithjal valL* of fixed assets by equal annual instalment5 over their expected useful econownic lives. The rates applicable are: Computer software - a Straight-If￿ basi5 over five years 2. Analysls of charitable expendlture 2025 2024 tes Grants payable Support costs . g0Veffla￿e 368,234 8,892 566,378 14.421 £377,126 £5￿,799 3. Analysls of costs of raI￿n8 funds 2025 2024 Notes Le Lw Participants ACComm￿tIon & f¢))d LE Loop Participants Travel costs Wages of Fundraislng Staff Other event costs- Clothing & E(ylp￿nt 230,758 79,545 73,469 23,920 273,148 78.118 80,285 36,541 Total cost5 of events 407.692 468,092 InveStM￿t managerr￿t fees Support Costs 5,631 151.468 5,191 115,446 £564.791 £588,729 Pa e15 The William Wates Memrial Trust Notes to the accounts for the year ended 31 Au8USt 2024 (contirmfftl) 4. Activities for ratslng fund5: fundralslng costs Tour de Force ITdFI incurs costs In respect of acclxmmodation. travel etc. which are passed on to the participant5 in the ￿ent, and are reiwnbvfsed directly to TdF. Tr company 15 not eX￿ted to make a profit or a loss on its trading activitles. 5. Support costs 2025 2024 Govemance Costs - Independent examiner's reTh￿￿rat￿ Govemance Costs . Accountancy services 8,892 14,421 SLPPK)rt costs- charitable ￿lI￿lIeS (note 21 £10,iX(I £14.421 Event Organiser cost5 Postage and cotnmunicatlon Advertising and promotion Finance costs and bank charges Insurance Hotel, travel arKI n￿tor costs Depreciation 132,601 5,3( 1,686 1,548 8.465 1,859 91,698 8,882 5,104 1,590 6,989 1,183 SuppK)rt costs- raising funds {￿te 3) £151.468 £115,446 Support costs are allocated between charitable activities and raTsing funds on a reasonable and consistent basls, taking into account the nature of the activity aThJ where appropriate, staff time. The Charity ha5 no anployee512024.' rM)ne) No trustees, ￿muneration was paid durlTr4 the year12024: £nll). Detalls of trustees. expenses are given in rw)te 17. 6. Investment Income 2025 2024 Divi(￿n￿$ 3.814 3,627 Interest receivable: Stockbroker5 Bank detM)sit 2.119 3.578 3.578 3,578 Total irwestmey)t incow £5,933 £7,205 Pa e16 The Willlam Wates ￿n￿la1 Trust Notes to the ￿COUnts for the year ended 31 A￿ust 2025{contin￿l 7. Charltable expenthture- yants payable 2025 2024 Grants sut4)orting youTr4 people. Active Learning Art Venture Tntst Be Ile Project Chapter One UK Ltd Children's Book Project Citizen's Advi￿ Mnle Valley Community Cycle Works Coram's Fields En*rge Advocacy Football Beyond Borders Free to be Kids GASP Motor Projects KBSK Performlng Arts Kinetic Foundatlon Llfebeat SH Mane Chance Sanctuary Norman¢Jy Community Tr*rapy Gard Oakleaf Enterprise Only Connect UK Onwards & Upward5 RASASC Guildford Ltd Reading Force Regenerate Russell Anderson Foundation Saracens Sport Foundation Skillway Sports Dan5 La Ville Strength learning through Fknrse5 Smtch up CIC The Adnan Jaffrey Ed￿at1(￿al Tfust The Ben Kin5ella Trust The Chlldren'5 Literacy Charity Honey Pot The Nucleo Project Thlnk 18 Together Our Community Youth A¢fventure Trust 2,5 30,C 2,5(K) 29,943 120,C 25,C(i) 44.185 10,(KXI 28.950 2,848 20,CIXI 2,5LX) 50,(KiI 30,1￿) 15,( 15,1XKI 45.(0] s5,{￿) 60,CrfX) 11,087 20,IMI Total charitable grants payable to institutior 368.234 579,878 Grants Resdn¢fjedlCa￿eIle￿ {13.5LK)I £368,234 £566,378 Pa The Wllllam Wates Memorlal Tfust Notes to the accounts for the year ended 31 August 2025 Icontinued) Grants made can te categorised as foil SuFyorting young people: 2025 2024 lentoring Sport5 Music & Arts Personal DeVelop￿nt Educational SuptN)rt 29,099 228,348 30,C(L) 44,943 72,C 249,135 87,087 60,iX(1 147,1XKI £368,234 £579,378 Pa The William Wates MeThhNial Trust Notes to the accounts for the year ended 31 Aus￿¢ 2025 (contlnuedl 8. Tanglble flxed assets Con¥)uter software Cost 1 September 2024 Additions 6,6Q) 31 August 2025 6,6(Kl Depreclatlon 1 September 2024 Charge for year 31 Au8USt 2025 6,6CX) Net book value 31 August 2025 31 August 2024 9. Investments- Quoted Investments 2025 2024 Market valije at 1 September 2024 464.614 412,520 Acquisitions at C05t Sale proceed5 from disposals 186.306 1179,0511 68,972 162,3821 Gain in the year- realised Galnllloss) in year - Lmrealised 5,933 8,997 7.208 38,296 14,930 45,504 Market value at 31 August 2025 Pa The William Wates Ikmrial Trust Note5 to xcounts for the year ended 31 August 2025 (contlnued Investments are geographically split as folith*s: UK investments Non-UK investments 111,399 375,4 123,216 341,398 E486,799 £464,614 10. Investments- UK Unquoted Investn*nts Grou 2024 Charl 2024 2025 2025 Unquoted Investments al Tour de For￿ Cycllng Limited lo,￿￿ Ordinary shares of £1 each 10,(KKI 10,(KQ Total unquoted investments held £10,CiK) £10,1 11. Debtors and prepa￿ents Grou 2024 Charl 2024 2025 2025 Accrued income Income tax repayment Prepayments and other debtors 81.165 91.740 81,165 91,740 37.SJ) £129,240 37,5(X) £118,665 £129,240 £118,665 Pa e20 The William Wates I•*n￿rial Trust Notes to the accounts for the yw ended 31 AUg￿t 20251continued) 12. Cash held Charl 2024 2025 2024 2025 Evelyns Partne . Cash acc(AJnt 12.037 12,037 Weatherbys Current Account .Towde Force 363 363 188,726 258,443 188,726 258,443 Co-op .T￿r de For 10.485 249 Petty cash 15 £204,673 15 £270,808 £194.173 £270,544 13. Grants payable 2025 2024 Reconclllatlon of grants payable: Commitrr*nts broL4ht forward 452,358 396,839 Commitrrents nwde during the year (note 71 368,234 566,378 820.592 963.217 Grants paid thjrfng the year 1458,8541 1510.8591 Commitments at 31 ￿￿USt 2025 £361,738 £452,358 Payable within one year Payable beyond one year 238,138 123,6Th) 322,377 129,981 £361,738 £452,358 Pa The Wllllam Wates v*Th￿rIal TfU5t Notes to the accounts for the yw erKled 31 August 2025 (continued) 14. Other creditors Grou 2024 Charl 2024 2025 2025 Tour de Force contributiLN)S Deferred income Independent Exavninat￿ & accountancy Costs: 67.831 59,336 - William Wate5 l•tmorlal Trust - Tour de Force Cycling Limited Investment management fees Other creditors 8.892 14,340 8,892 14,340 68.331 £77.223 49.602 £63.942 £76,723 £73,676 15. Subsldiary undertaklng The charity holds a 1C(fA owned subsidiary company, Tcyjr de Force Cycling Limited, company number 07834337, which organlses and manage5 fundraising events which generate (k)natlons for the charity. The aggregate amounts of the wbsidiary's assets, liabilities aTKi funds at the year-end 2025 2024 Current assets Current liabilities Aggregate Share capltal and shareholders. fu￿ 78,328 {68,3281 10,(JX) 59,6(Kl 149,6(K)I 10,(KK> The following 15 a summary of the tumver and expenditure of the subsithary for the year: 2025 2024 Turnover C05t of sales Other operating income Admlnistration expenses Interest receivable 455,133 1397,7281 93,493 1150.8981 503,OLX) 1458,4101 68,147 1112,7371 Proflt for the year The Wllllam Wates Tntst Notes tr> the xcounts for the year erthd 31 August 2025 {contlnued 16. Unre5trlcted trust fund Balance brought forward at 1 September 2024 Net incoming rewurces for the year ended 31 August 2025 Balance carried forward at 31 August 2025 348,362 22,814 £371,176 17. Related party transactlons As detailed in note 5, the trustee5 did not receive any renumeration dLKing the year. Also. no trustees *Ere re1M￿￿ed any expense5 0Jri￿ the year. There were rK* related party tron￿tiOnS in the year other than the balance shown in the Charity lin Th)te 14) with Tour Force Cycling Limited of £67,82712024: £59,336) T￿e V￿re reimbursed expenses beW the charity and Tour de Force Cycling Limlted of £93,493 12024: £68,147).