**REGISTERED COMPANY NUMBER: 07255704 (England and Wales) REGISTERED CHARITY NUMBER: 1138183**
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2025
for
British Triathlon Foundation Trust
Charnwood Accountants & Business Advisors LLP The Point Granite Way Mountsorrel Loughborough Leicestershire LE12 7TZ
British Triathlon Foundation Trust
Contents of the Financial Statements for the Year Ended 31 March 2025
||Page|
|---|---|
|Chair's Report|1|
|Report of the Trustees|2 to 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8 to 9|
|Notes to the Financial Statements|10 to 15|
|Detailed Statement of Financial Activities|16|
British Triathlon Foundation Trust
## Chair's Report
for the Year Ended 31 March 2025
For the Triathlon Trust, the year to 31 March 2025 has been a rewarding year of execution where we have witnessed the Trusts purpose come to life.
Our decision to invest in a part-time fundraising resource to kick-start our grant application and income generation effort has led the Trust to once again have a positive impact on the lives of the children and young people that need it most across our Home Nations.
A number of carefully selected projects in partnership with local authorities and other charities has meant that we have been able to fund swim lessons, safer cycling, and sustainable community activation in communities across the West Midlands. A personal favourite of mine is the partnership with Dynamic Kids to provide several adapted cycles to help children participate in local community rides. The support of the Trust will allow cycling sessions to take place at their local community centre, led by a British Triathlon Community Activator, supporting children to enjoy a more active life and support them with their mental health.
The Trust has also funded a programme in Torbay, 'Katie's Cyclists', primarily funded with legacy funding from the Henderson Family with match funding from another donor. This project is being delivered by Torbay Council and is providing access to refurbished bikes, bikeability and Swim Bike Run sessions for care experienced young people in the area.
During the second half of FY25, the Trustee board has completed a strategy refresh. This has involved critically appraising what have been the most impactful elements of our strategy, and where therefore we want to increase focus and investment to further increase impact. The refreshed strategy will be presented to the BTF Board in the first quarter of FY26 and I am confident that the tweaks we have proposed will further increase our effectiveness.
Looking ahead to FY26, we are very excited about delivering a new project in Rhyl, spearheaded by Welsh Triathlon. Project Triumph will provide accessible and affordable Swim, Bike and Run opportunities for the young people of Rhyl, as well as build a triathlon community in Rhyl by training local volunteers to lead regular Swim, Bike, Run sessions, potentially via a brand-new community triathlon club. Exciting times ahead!
Our purpose remains to inspire children and young people to live healthy, active lives through swim, bike, run and so it is wonderful to now see this happening again.
As always, my sincere thanks again go out to the Board of Trustees and our colleagues within the British Triathlon Federation and the three Home Nations. Without their continued support for the Trust, unlocking the remarkable potential of our charity would not be possible. an Signed on behalf of G Adey by S G Rice Acting Chair of Trustees
Page 1
British Triathlon Foundation Trust
## Report of the Trustees
## for the Year Ended 31 March 2025
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report along with the financial statements of the British Triathlon Foundation Trust ("Charity", "Trust") for the year ended 31 March 2025. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Trust is governed by a Board of trustees. New trustees are recruited through an external application and interview process, appointed under a deed of appointment, and undertake relevant induction and training, including attendance and participation in the charity's activities. The names of the trustees and changes to the Board are set out on page 5. The Governing document of the charity is the Trust Deed dated 17 May 2010.
The day-to-day management of the charity is supported by British Triathlon Federation.
## **Risk management**
The trustees have identified the major risks pertaining to governance, operational delivery, finance, reputation, environment and compliance. These risks have been mitigated through the charity's procedures, policies and reporting structures and are monitored by the Board through an annual review process.
The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement, loss or reputational damage. They include:
- Quarterly trustee meetings including financial and operational updates and forecasts;
- Authorisation of all strategic partners and programmes by the trustees;
- Operational risk assessments and post-event reviews;
- Induction and ongoing training for trustees and staff;
- Payment processes with independent authorisation and approvals; and
- Safeguarding policies and procedures.
## The key risks identified include:
Financial - the identification of long-term sustainable funding streams for the charity. Compliance - the need to ensure compliance with Data Protection laws and other relevant legislation. Operational - the safety of participants at activity connected to our work. Reputational - adverse publicity that could ��p��t the charity.
## **Key Management Personnel**
The Board of trustees and the senior management team at British Triathlon Federation comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. All trustees give of their time freely and no director received remuneration in the year. Details of directors' expenses and related party transactions are disclosed in the notes to the financial statements.
Page 2
British Triathlon Foundation Trust
for the Year Ended 31 March 2025
## Report of the Trustees
## **FINANCIAL REVIEW**
During the year ended 31 March 2025, total income was £107,345 (2024: £52,381) and total expenditure was £67,787 (2024: £16,500). As detailed in the Chair's foreword, 2024/25 has been a year of transition from the reduction in activity compared to pre-pandemic levels to readying itself to return to it's previous levels of activity in achieving the Trusts' goals. The upturn in income will allow it to operate on a very different operating model to the one followed post-pandemic. At 31 March 2025 the charity had total reserves of £92,676 (2024: £53,118) which comprised £Nil (2024: £5,436) of restricted funds and £92,676 (2024: £47,682) of free reserves (unrestricted funds).
## **Reserves policy and review**
The charity had unrestricted reserves of £92,676 (2024: £47,682). The trustees have considered the need for reserves to be maintained by the charity and have concluded that an appropriate reserve would be to hold an amount equivalent to � months of non-delivery running costs. Given the current position and future direction of travel, the trustees consider this to be an acceptable level of unrestricted reserves.
## **Public benefit**
The charity confirms that the trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising its powers or duties. Throughout this report, the charity has demonstrated that it acts for the public benefit. The trustees have referred to the Charity Commission's guidance on public benefit when reviewing their aims and objectives and planning their future activities.
## **Going concern**
The Board of trustees is of the opinion that the charity has adequate resources to continue in operational existence for the next 12 months and there are no material uncertainties regarding the charity's ability to do so.
## **Fundraising**
It remains the intention of the trustees to recruit a part-time �per�t�o�s���d��u�dr��s���������er to attract grants and investment into the redefined purpose of the trust. A sum of £nil (2024: £nil) has been donated by British Triathlon to support this activity.
## **OBJECTIVES, ACHIEVEMENTS AND PERFORMANCE**
As indicated in the Chair's Foreword, the core objective for 2024/25 was to conduct a soft re-launch, build capacity and establish sustainable income sources. At the time of writing, the Trust has engaged fundraising expertise to enable the submission of grant applications. This builds on the most welcome donations received which enable the Trust to build momentum in pursuit of our mission. Future plans
The objectives for the year ahead will be founded on the key principles of inclusion, participation and sustainability and will seek to support swim, bike, run activity in some of the most underserved communities in England, Scotland and Wales.
## Statement of trustees' responsibilities
The trustees (who are also directors of the charitable company for the purposes of company law) are responsible for preparing the Trustees' report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 3
British Triathlon Foundation Trust
## Report of the Trustees
## for the Year Ended 31 March 2025
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period.
In preparing these financial statements, the trustees are required to;
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended
- Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
## Statement of trustees' responsibilities (continued)
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Each of the trustees confirms that:
- so far as the trustee is aware, there is no relevant audit information of which the Charity's auditors are unaware; and
- the trustee has taken all the steps that he or she ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the Charity's auditors are aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act
2006. Approved by the Board on th 2025 and signed on its behalf by:
S G Rice Acting Chair of Trustees
.
Page 4
British Triathlon Foundation Trust
for the Year Ended 31 March 2025
## Report of the Trustees
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
**REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 07255704 (England and Wales)
**Registered Charity number** 1138183
**Registered office** Sportpark 3 Oakwood Drive Loughborough Leicestershire LE11 3QF
**Trustees** Ms D E Clarke S G Rice G Adey (resigned 10.7.25) G Cali P Craig T A Lynam (resigned 16.1.25) R P Daniels S Paige C W Roberts Ms A C Cochrane Director/ Trustee (appointed 2.1.25)
## **Independent Examiner**
Stuart Spencer FCCA Charnwood Accountants & Business Advisors LLP The Point Granite Way Mountsorrel Loughborough Leicestershire LE12 7TZ
Approved by order of the board of trustees on 7th October 2025 and signed on its behalf by:
.......................................................................... S G Rice Acting Chair of Trustees
Page 5
Independent Examiner's Report to the Trustees of British Triathlon Foundation Trust
## **Independent examiner's report to the trustees of British Triathlon Foundation Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Stuart Spencer FCCA
Charnwood Accountants & Business Advisors LLP The Point Granite Way Mountsorrel Loughborough Leicestershire LE12 7TZ
Date: ............................................. 7 October 2025
Page 6
British Triathlon Foundation Trust
## Statement of Financial Activities
## for the Year Ended 31 March 2025
|Unrestricted
fund
Notes
£
66,654
2
379
67,033
3
3,403
9,762
300
14,010
27,475
39,558
9
5,436
44,994
47,682
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Staff resource from BTF funding
Jack Boericke designated fund
Grant funded activity
**Total**
**NET INCOME**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
92,676|Restricted
fund
£
40,312
-
40,312
-
-
-
40,312
40,312
-
(5,436)
(5,436)
5,436
-|31.3.25
Total
funds
£
106,966
379
107,345
3,403
9,762
300
54,322
67,787
39,558
-
39,558
53,118
92,676|31.3.24
Total
funds
£
51,328
1,053
52,381
5,838
9,762
900
-
16,500
35,881
-
35,881
17,237
53,118|
|---|---|---|---|
The notes form part of these financial statements
Page 7
British Triathlon Foundation Trust
## Balance Sheet
## 31 March 2025
|Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Debtors
7
3,141
Cash at bank
107,001
110,142
**CREDITORS**
Amounts falling due within one year
8
(17,466)
**NET CURRENT ASSETS**
92,676
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
92,676
**NET ASSETS**
92,676
**FUNDS**
9
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
-
-
-
-|31.3.25
Total
funds
£
3,141
107,001
110,142
(17,466)
92,676
92,676
92,676
92,676
-
92,676|31.3.24
Total
funds
£
6,000
74,901
80,901
(27,783)
53,118
53,118
53,118
47,682
5,436
53,118|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 8
British Triathlon Foundation Trust
## Balance Sheet - continued
## 31 March 2025
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 7th October 2025 and were signed on its behalf by:
.............................................
S G Rice
Acting Chair of Trustees
The notes form part of these financial statements
Page 9
British Triathlon Foundation Trust
Notes to the Financial Statements for the Year Ended 31 March 2025
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 10
British Triathlon Foundation Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
|**2.**|**OTHER TRADING ACTIVITIES**|||||
|---|---|---|---|---|---|
||||31.3.25||31.3.24|
||||£||£|
||Management charge - income||379||1,053|
|**3.**|**RAISING FUNDS**|||||
||**Raising donations and legacies**|||||
||||31.3.25||31.3.24|
||||£||£|
||Staff costs||79||258|
||Insurance||886||529|
||Sundries||-||140|
||Management charge - expense||379||1,052|
||Travel costs||341||1,125|
||Support costs||165||124|
||||1,850||3,228|
||**Other trading activities**|||||
||Accountancy||1,553||2,610|
||||3,403||5,838|
|**4.**|**TRUSTEES' REMUNERATION AND BENEFITS**|||||
||No remuneration was paid to the trustees by the charity in the year.|||||
||**Trustees' expenses**|||||
||The trustees' expenses paid during the year was £341 (2024: £1,265).|||||
|**5.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|||||
|||Unrestricted|Restricted||Total|
|||fund|fund||funds|
|||31.3.24|31.3.24||31.3.24|
|||£|£||£|
||**INCOME AND ENDOWMENTS FROM**|||||
||Donations and legacies|51,328||-|51,328|
||Other trading activities|1,053||-|1,053|
||**Total**|52,381||-|52,381|
||**EXPENDITURE ON**|||||
||Raising funds|4,646|139||4,785|
||Management charges|1,053|||1,053|
||**Charitable activities**|||||
||Staff resource from BTF funding|9,762||-|9,762|
||Jack Boericke designated fund|900||-|900|
||**Total**|16,361|139||16,500|
||**NET INCOME/(EXPENDITURE)**|36,020|(139)||35,881|
continued...
Page 11
British Triathlon Foundation Trust
## Notes to the Financial Statements - continued
|for|the Year Ended 31 March 2025|||||
|---|---|---|---|---|---|
|**5.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|||||
|||Unrestricted|
Restricted||Total|
|||fund|fund||funds|
|||31.3.24|31.3.24||31.3.24|
|||£||£|£|
||**RECONCILIATION OF FUNDS**|||||
||Total funds brought forward|11,662|5,575||17,237|
||**TOTAL FUNDS CARRIED FORWARD**|47,682|5,436||53,118|
|**6.**|**TANGIBLE FIXED ASSETS**|||||
||||||Plant and|
||||||machinery|
||||||£|
||**COST**|||||
||At 1 April 2024 and 31 March 2025||||19,196|
||**DEPRECIATION**|||||
||At 1 April 2024 and 31 March 2025||||19,196|
||**NET BOOK VALUE**|||||
||At 31 March 2025||||-|
||At 31 March 2024||||-|
|**7.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
||||31.3.25||31.3.24|
||||£||£|
||Trade debtors||2,700||6,000|
||Prepayments|||441|-|
||||3,141||6,000|
continued...
Page 12
British Triathlon Foundation Trust
## Notes to the Financial Statements - continued
## for the Year Ended 31 March 2025
## **8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||31.3.25|31.3.24|
|---|---|---|
||£|£|
|Other creditors|2,685|2,614|
|Grants|14,781|25,169|
||17,466|27,783|
Grants payable include Jack Boericke Trust £12,409 and Joe Garner £2,372.
## **9. MOVEMENT IN FUNDS**
|At 1.4.24
£
**Unrestricted funds**
General fund
47,682
**Restricted funds**
Restricted fund
5,436
**TOTAL FUNDS**
53,118
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Net
movement
in funds
£
39,558
-
39,558
Incoming
resources
£
67,033
40,312
107,345|Transfers
between
At
funds
31.3.25
£
£
5,436
92,676
(5,436)
-
-
92,676
Resources
Movement
expended
in funds
£
£
(27,475)
39,558
(40,312)
-
(67,787)
39,558|Transfers
between
At
funds
31.3.25
£
£
5,436
92,676
(5,436)
-
-
92,676
Resources
Movement
expended
in funds
£
£
(27,475)
39,558
(40,312)
-
(67,787)
39,558|
|---|---|---|---|
||||39,558|
continued...
Page 13
British Triathlon Foundation Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
## **9. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|||||Net||
|---|---|---|---|---|---|
|||||movement|At|
|||At 1.4.23||in funds|31.3.24|
||||£|£|£|
|**Unrestricted funds**||||||
|General fund|||11,662|36,020|47,682|
|**Restricted funds**||||||
|Restricted fund|||5,575|(139)|5,436|
|**TOTAL FUNDS**|||17,237|35,881|53,118|
|Comparative net movement in funds, included in the above are as follows:||||||
|||Incoming||Resources|Movement|
|||resources||expended|in funds|
||||£|£|£|
|**Unrestricted funds**||||||
|General fund|||52,381|(16,361)|36,020|
|**Restricted funds**||||||
|Restricted fund|||-|(139)|(139)|
|**TOTAL FUNDS**|||52,381|(16,500)|35,881|
|A current year 12 months and prior year 12 months combined position is as follows:||||||
||||Net|Transfers||
|||movement||between|At|
||At 1.4.23|
in funds||funds|31.3.25|
||£||£|£|£|
|**Unrestricted funds**||||||
|General fund|11,662||75,578|5,436|92,676|
|**Restricted funds**||||||
|Restricted fund|5,575||(139)|(5,436)|-|
|**TOTAL FUNDS**|17,237||75,439|-|92,676|
continued...
Page 14
British Triathlon Foundation Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2025
## **9. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
£
119,414
40,312
159,726|Resources
Movement
expended
in funds
£
£
(43,836)
75,578
(40,451)
(139)
(84,287)
75,439|
|---|---|---|
The balance within restricted funds related to Katie's Fund. The purpose of this fund was to deliver participation activities to children in the name of Katie Henderson. This fund has since been released to unrestricted funds.
## **10. RELATED PARTY DISCLOSURES**
R Daniels and D E Clarke were directors of British Triathlon Federation and British Triathlon Foundation Trust during the period. The Federation contributed £7,033 (2024: £2,380) during the period and charged the charitable company £10,044 (2024: £13,561) of expenses.
No further related party transactions have been noted.
## **11. COMPANY STATUS**
The company is limited by guarantee and as such has no issued share capital. Each member's guarantee is limited to an amount of £1 per member.
Page 15
British Triathlon Foundation Trust
|Detailed Statement of Financial Activities|||
|---|---|---|
|for the Year Ended 31 March 2025|||
||31.3.25|31.3.24|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|106,966|51,328|
|**Other trading activities**|||
|Management charge - income|379|1,053|
|**Total incoming resources**|107,345|52,381|
|**EXPENDITURE**|||
|**Raising donations and legacies**|||
|Pensions|79|258|
|Insurance|886|529|
|Sundries|-|140|
|Management charge - expense|379|1,052|
|Travel costs|341|1,125|
||1,685|3,104|
|**Other trading activities**|||
|Accountancy|1,553|2,610|
|**Charitable activities**|||
|Donations from designated fund|300|900|
|Grant funded activity|54,322|-|
|�t���resour�e�ro�����u�d���|9,762|9,762|
||64,384|10,662|
|**Support costs**|||
|**Finance**|||
|Bank charges|165|124|
|Total resources expended|67,787|16,500|
|**Net income**|39,558|35,881|
This page does not form part of the statutory financial statements
Page 16