## **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:|||
|---|---|---|
|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**
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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||||
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## – 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