Richard
Taylor Memorial Fund
Trustees annual report for the period ended 31 March 2024 Structure, governance and management
The Richard Taylor Memorial Fund (RTMF) was established by declaration of trust on 31 March 2006. The trust deed is the Fund’s governing document. The Fund was registered as a charity on 15 June 2006. The trust deed provides that there must be at least 3 trustees. The existing trustees are responsible for identifying and appointing trustees. Four new trustees were added to the trustee body in early 2023 and played an active part in the governance of the Fund during the period covered by this report.
Objectives, activities, achievements and performance
The objectives of the RTMF are as follows:
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To relieve the sickness and suffering of the general public by promoting organ donation
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To advance the education of the general public and health service providers in all areas relating to organ donation
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To provide or assist in the provision of skate park facilities for the benefit of the general public in the town of Barry in the Vale of Glamorgan, in the interests of social welfare for healthy recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, financial hardship or social and economic circumstances with the object of improving their conditions of life
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To provide scholarships, exhibitions and bursaries for young persons under the age of 25 to enable them to further their education in sport
During this period the Fund focussed its efforts on securing funds to contribute to building a new state of the art concrete wheeled sports arena on the site of the existing skatepark. A Go Fund Me page raised over £7k and applications to the South Wales Police Youth Trust, the Waterloo Foundation and the National Lottery’s Community Fund raised £10,000, £15,000 and £80,900 respectively. A £1,000 grant was awarded to the Hargreaves family in June 2023. £90,000 was expended by the Fund during this period as its first instalment towards the cost of the skatepark build.
Financial Review
The trustees set a policy of retaining the discrete funds raised to facilitate the building of the new skatepark. Once this goal has been achieved the trustees will reconsider the Fund’s position on reserves.
Reference and Administration details Charity name
Richard Taylor Memorial Fund
Registered charity number
1114687
Principal address
72 Porth y Castell Barry CF62 6QF
Trustees
Mrs Gaynor Taylor Mr Frederick Taylor Mr David Maggs Mr Robert Taylor Mr Daniel Maggs
Mrs Ursula John Mr Richard Colbourne
Bankers
Santander Business Banking Operations Sunderland SR43 4FW
Income for the period ended 31.3.24 totaling £60,035.96 came from the following sources:
£ Paypal 12.50 Amazon Smile 23.46 National Lottery Community Fund 60,000.00
This total, together an additional £30,000 raised the previous financial year from a Go Fund Me page, the South Wales Police Youth Trust and the Waterloo Foundation was expended by the Fund during this period as its first instalment towards the cost of the skatepark build.
Receipts and payments account for the period 1 April 2023 to 31 March 2024
Receipts Amount Payments Amount
£ £
£
Opening balance 41,764.55 Skatepark build instalment to the VoGC 90,000.00 Donations 35.96 Award 1000.00 Grants 60,000.00 Total Receipts 101,800.51 Total Payments 91,000.00 Closing balance 10,800.51
Statement of assets and liabilities at 31 March 2024
Cash funds £
Bank deposits 10,800.51 Other monetary assets - Gift Aid tax claims - Liabilities Total 10,800.51
- The Fund had a bank opening balance of £41,764.55 at 1 April 2023. During the 2023-2024 financial year income totalled £60,035.96. A grant of £60,000 from the National Lottery Community Fund for the skatepark build and £35.96 in donations from Paypal and Amazon Smile. An award of £1000 was made to the Hargreaves family and £90,000 was paid to the Vale of Glamorgan Council as the first instalment of the skatepark build leaving a year end bank closing balance of £10,800.51.
Approved by the trustees on 20 January 2025 and signed on their behalf
Mr David Maggs
Mr Daniel Maggs
| Richard Taylor Memorial Fund | Richard Taylor Memorial Fund | Richard Taylor Memorial Fund | Charity number 1114687 | Charity number 1114687 | Charity number 1114687 | ||
|---|---|---|---|---|---|---|---|
| YEAR | 2023-2024 | Payments | |||||
| 1st April - 31st March | |||||||
| Cash/ # | |||||||
| Date | Visa | Amount | Post | RT AWARD | Skatepark build | ||
| Bursary for twins Thomas & Tamsin | |||||||
| 9-Jun | Hargreaves's - canoeists | Bacs | £1,000.00 | £1,000.00 | |||
| 1-Dec | Contributon to skatepark build | £30,000.00 | £30,000.00 | ||||
| 1-Dec | RTMFNatonal Lotery Community Fund | Grant | £60,000.00 | £60,000.00 | |||
| £91,000.00 | £0.00 | £1,000.00 | £90,000.00 |
| Richard Taylor Memorial Fund | Charity number 1114687 | Charity number 1114687 | Charity number 1114687 | |||
|---|---|---|---|---|---|---|
| YEAR 2023-2024 | Receipts | |||||
| 1st April - 31st March | Amount | Donatons | Rafe | Grant | Interest | |
| 2-Apr Paypal | £12.50 | £12.50 | ||||
| 24-Apr Amazon Smile | £5.00 | £5.00 | ||||
| 19-May Amazon Smile | £18.46 | £18.46 | ||||
| 24-Nov Lotery Communityll Fund | £60,000.00 | £60,000.00 | ||||
| Totals | £60,035.96 | £35.96 | £0.00 | £60,000.00 | £0.00 | |
| Bank Balance Opening | £41,764.55 | |||||
| Running Receipt Balance | £101,800.51 | |||||
| Bank Balance Closing |
| Richard Taylor Memorial Fund | Charity number | 1114687 | |||
|---|---|---|---|---|---|
| YEAR 2023-2024 | |||||
| INCOME | Amount | ||||
| Donatons | £35.96 | £35.96 | |||
| Fundraising events | £0.00 | ||||
| Grants | £60,000.00 | £60,000.00 | |||
| Interest | £0.00 | ||||
| Total | £60,035.96 | ||||
| EXPENSES | Amount | ||||
| RTMF Bursary | £1,000.00 | ||||
| Vale of Glamorgan Council for Skatepark | £90,000.00 | ||||
| £91,000.00 | |||||
| Net Proft / Loss | -£30,964.04 | ||||
| Opening Bank Balance | £41,764.55 | ||||
| ClosingBalance | £10,800.51 |
Total
£1,000.00 £30,000.00 £60,000.00 £91,000.00
Total £12.50 £5.00 £18.46 £60,000.00 £0.00 £60,035.96
Fir Trees Romilly Park
Road
Barry CF62 6RN 20 January 2025
Richard Taylor Memorial Fund
Independent examiners report to the trustees of the Richard Taylor Memorial Fund
I report on the accounts of the Richard Taylor Memorial fund for the period ended 31 March 2024 which comprise of the receipts and payments account.
Having checked the bank statements I confirm that all the payments received of:
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Paypal - £12.50
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Amazon Smile - £23.46
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National Lottery Community Fund - £60,000
Were declared and accounted for.
The only expenditure during the year was a donation of £1000 to the Hargreaves family and a £90,000 payment to the Vale of Glamorgan Council for the skatepark build which were also declared and accounted for.
The balance in the account at the year end of £10,800 is a correct reflection of the activity in the year.
Consequently, after a thorough review I found the accounts to be in good order with no discrepancies.
Joan Walden