Trustees’ Annual Report for the period
From 01/01/2023 Period start date To 31/12/2023 Period end date
Charity name: Shadowfax Racing
Charity registration number: 1160695
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | Promote the advancement of amateur sport for underprivileged young people by the provision of facilities and training for the purposes of sailing and consequently, promote the advancement of the physical health and fitness of participants. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
This year was the first year running our new charity model, moving away from organising and running sail training ourselves to providing funding to enable underprivileged young people to take part in externally organised sail training programmes. This change is because since Covid many of our volunteers have moved onto other things and we also gave up our charity owned boat, as the associated costs could not be justified when we were not able to run programmes. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The Trustees have had due regard to the Commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant. |
Additional information (optional)
You may choose to include further statements where relevant about:
SORP reference |
||
|---|---|---|
| Policy on grant making | Para 1.38 | The young people are selected to take part in the programme with support of our partner school in Tottenham, North London, and are identified as being underprivileged and who wouldn’t otherwise get the opportunity to learn to sail. |
| Policy on social investment including program related investment |
Para 1.38 | |
Para 1.38 Contribution made by volunteers Other
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | The Trustees worked with our partner school, the London Academy of Excellence(LAE), Tottenham, to provide funding for 19 underprivileged young people to spend 6 days and nights on a Tall Ships voyage along the South Coast of the UK. The 19 students lived and sailed on board two Challenger yachts, giving them experience of all aspects of life at sea. None of the students had done any sailing before and it was a unique and rewarding experience that gave them a new perspective and life skills. They gained experience of general sailing, racing and chartwork as well as strengthening their teamwork and communication skills. A number of the students also gained their Royal Yachting Association Competent Crew certification, showing they had reached an approved level of sailing skills. The new charity model has allowed us to provide better value for money and a unique and memorable sailing experience to more disadvantaged young people. |
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 |
Other
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The charity’s financial position is that we have only a small amount of cash remaining as we have done no fundraising for the past couple of years and took the decision to use our existing reserves to fund places for young people on the external Tall Ships programme. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | Given that the new charity model has very few associated costs beyond the funding we provide for the young people to attend external activities we do not hold reserves. |
| Amount of reserves held | Para 1.22 | £0 |
| Reasons for holding zero reserves |
Para 1.22 | We do not hold any reserves because, due to the change in how the charity delivers its activities there are no longer any ongoing expenses for the boat or the administration or running of the programmes. |
| Details of fund materially in deficit |
Para 1.24 | |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | If we want to continue to run the charity next year and provide funding for more young people to undertake external sailing activities, we will need to organise some fundraising activities in 2024. |
Additional information (optional)
You may choose to include further statements where relevant about:
The charity’s principal sources of funds (including Para 1.47 any fundraising) Investment policy and objectives including any Para 1.46 social investment policy adopted A description of the principal Para 1.46 risks facing the charity Other
Structure, Governance and Management
| Description of charity’s trusts: |
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|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Constitution |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | CIO |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Elected and appointed by Charity founders and Trustees |
Additional information (optional)
You may choose to include further statements where relevant about:
Policies and procedures adopted for the induction and training of trustees |
Para 1.51 |
|
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | The charity Trustees are responsible for the overall management and control of the charity and have regular meetings to discuss the charity activities and planning. All Trustees give their time freely and no remuneration was paid to any of the Trustees during the year. |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
| Charity name | Shadowfax Racing |
|---|---|
| Other name the charity uses | |
| Registered charity number | 1160695 |
| Charity’s principal address | 59 Chiswick Staithe Harrington Road London W4 3TP |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| David Rolfe | ||||
| Rebecca Rolfe | ||||
| Nicola Paul | ||||
| Claire Walsh | ||||
| Oliver Bennett | ||||
– Corporate trustees names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets None held in this capacity
Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
n/A
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) Full name(s) Nicola Paul Position (eg Secretary, Trustee Chair, etc) Date 25/10/2023
SHADOWFAX RACING
Registered Charity Number: 1160695
Annual Receipts & Payments Accounts For the Year Ended 31 December 2023
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SHADOWFAX RACING
Registered Charity Number: 1160695
RECEIPTS & PAYMENTS ACCOUNTS
for the year ended 31 December 2023
TRUSTEES
Mr D Rolfe – appointed 27 February 2015 Mrs R Rolfe – appointed 27 February 2015 Ms C L Walsh – appointed 27 February 2015 Ms N J Paul – appointed 27 February 2015 Mr O Bennett – appointed 17 November 2016
RECEIPTS & PAYMENTS STATEMENT – 2023
Opening balance (1 January 2023): £10,345.68
Receipts:
Donations: £0.00 Fundraising income: £0.00
Payments:
Charitable expenditure: £9,375.00
Notes on charitable expenditure (2023):
Tall Ships Trust: £4,312.50 Tall Ships Limited: £5,062.50
Closing balance (31 December 2023): £970.68
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TRUSTEE APPROVAL
These accounts were approved by the trustees on 31 / 10 / 2025 and signed on their behalf by:
Ms C L Walsh Trustee