## **TANDEM TREKKERS – Registered Charity 1175326**
## **TRUSTEES REPORT 01 January 2020 – 31 December 2020**
The Board of Trustees of Tandem Trekkers is pleased to present its’ annual report for 2020.
## **Annual General Meeting**
Our AGM, covering the year ending 31[st] December 2019, was held at Longwood Mechanic Hall, Longwood Gate, Huddersfield HD3 4UU on Saturday 29[th] February 2020. 16 members were in attendance and apologies were received from 17 members.
In line with our constitution three Trustees, Andrew Mann, Keith Sandiford and Paul Stark retired from office and, being willing to continue to act as Trustees, were unanimously re-elected to office. Additionally, Natasha Marsay resigned from office, expressing a wish not to serve going forward.
The minutes from the inaugural AGM held on 23[rd] February 2019, together with the Trustees Annual Report and the Financial Annual Report for 2019 were all proposed and unanimously accepted by the membership.
Further details of the AGM are as contained in the appropriate minutes.
## **Trustees - 2020**
Tandem Trekkers was managed by a Board of seven Trustees which met on six occasions during the period being reported. Only the first two meetings were held physically. The remaining four meetings were virtual meetings held over Zoom.
Brittany Stead – Chair David Quarmby – Vice Chair Diarmuid Ware – Secretary Andrew Mann – Treasurer Tariq Ali Keith Sandiford Paul Stark
## **Activity Overview**
For reasons that are all too obvious, 2020 has transpired to be both an unprecedented and very frustrating year for Tandem Trekkers; at least from a cycling perspective. Only two rides were completed prior to the first lockdown in March. In September, after preparing a COVID-19 risk assessment and policy, which was sanctioned by Kirklees Council, Sports England and British Cycling, we managed to enjoy a further two rides adhering to the new guidelines. Unfortunately, Lockdown-2 was introduced in early November, undermining our desires to continue riding.
Nevertheless, the indomitable spirit of the Trekker’s family has manifestly shone through in the array of virtual activities that have taken place throughout the year. These have principally been held on a weekly basis and have included:
- Spin Class
- Yoga
- Poetry
- Cooking
- Quiz
Attendance at these cyber events has been very encouraging; Saturday evening activities typically attracting around 20 participants.
## **Financial Overview**
Our biggest single outgoing throughout the year has been the cost of storage. We were able to negotiate a 10% reduction from the Storage Facility at Hot Tub World, and further mitigate the cost by removing our trailer which is now stored at a local farm. Further details concerning our financial position are as given in the accompanying Financial Accounts. Reported, but not included in the figures, is the offer of a grant from British Cycling for £4320 which covers 80% of the cost of three new Orbit Tandems. This grant needs to be taken up imminently.
## **Tandem Fleet Overview**
During 2020 we were offered several second-hand tandems, four of which we graciously accepted. This put severe pressure on the space available at the lock-up. Coupled with this shortage, it became apparent that several of our older bikes were effectively surplus to our foreseeable requirements. A decision was hence made to divest of these bikes. We successfully sold five of these with a further four tandems retired/pending sale. The resultant income was added to our unrestricted funds. Details of our current inventory are as contained in the accounts.
Approved by the Board of Trustees of Tandem Trekkers and passed by the membership at the Annual General Meeting [Virtual Meeting] held on 27[th] February 2021
Brittany Stead Chair
Andrew Mann Treasurer
[In view of the current Covid-19 pandemic, and in accordance with a resolution duly passed at the aforementioned AGM, this document does not require original “wet” signatures and the above officers are accordingly empowered to electronically submit the same and do so as if signed as per normal protocols.]
**Tandem Trekkers – Registered Charity 1175326**
## **Annual Accounts: 1[st] January 2020 – 31[st] December 2020**
The Trustees of Tandem Trekkers are pleased to present their 2020 Annual Accounts, as appended and as described below.
The accounts have been prepared on a simplified receipts and payments basis with all purchases, including any capital purchases and sales, shown as payments and receipts and hence without the need to prepare an accompanying balance sheet.
However, an asset valuation list has been appended to the accounts.
Strictly speaking, and for reasons that require no amplification, we incurred an operating deficit in 2020 of £1,313.44. Clearly, this shortfall is no need for concern as typically income from subscriptions, after allowing for additional expenses, would have eroded much of this negative figure.
Positively, inflows at £6,658.06 were significantly higher than our expenditure of £3,751.50 meaning that our balance at the year-end has increased by £2,906.56. Effectively that means we have a positive cash balance of £15,556.03. Setting aside the amount that is restricted for the procurement of and expenditure towards specific items (Purchase of new Tandems, Cycling Jerseys, Storage Costs etc.), our unrestricted balance is over £10,000 which, under normal circumstances, would equate to two years running expenses; that is double our agreed reserve.
To complete the financial picture, two items need to be recorded.
Firstly, the Trustees are very much aware that at over £2,000 per annum, our storage costs represented our most significant outflow. Even after negotiating a reduction which involved agreeing to store our main trailer off-site, our expected expenditure in 2021 amounts to just over £1,750.
Preliminary discussions to purchase 2 x 20’ Shipping Containers to store our tandems at Leeds Road Sports Complex commenced early in 2020 but were thwarted by the pandemic. This isn’t to say that we will necessarily relocate our storage facility, but it is to evidence that the exploration of alternative locations remains on our radar.
Secondly, British Cycling have awarded us a grant of a £4,320 representing 80% of the cost of the purchase of 3 brand new Orbit Tandems. We could have purchased these in 2020 but made a conscious decision to postpone acquisition until the COVID-19 cloud showed signs of lifting. As there is no short-term expectation of this happening, and as the offer is due to lapse in March 2021, we intend to proceed with the offer. The 20% balance to make up British Cycling’s offer to the full purchase price will be taken from the Freemason’s generous grant of £2,500 which has been specifically allocated for the purchase of new tandems.
In summary, though our operational costs in 2020 were, as completely anticipatable, in the red, our actual funding remains very healthy. Our bank balance is over £15,000.
The Trustees are entirely satisfied that the finances of Tandem Trekkers are more than adequate to meet future requirements and to expand our fleet of bikes as proposed.
Approved by the Board of Trustees of Tandem Trekkers and passed by the membership at the Annual General Meeting held on 27[th] February 2021
Brittany Stead Andrew Mann Chair Treasurer
_[In view of the current Covid-19 pandemic, and in accordance with a resolution duly passed at the aforementioned AGM, this document does not require original “wet” signatures and the above officers are accordingly empowered to electronically submit the same and do so as if signed as per normal protocols.]_
**Summary**
## **Tandem Trekkers Accounts 2020**
||**Receipts**
**Dec-19**
**Opening Balances:**
**1758.63**
**Barclays**
**7149.44**
**Yorkshire**
-
Cash on hand
**_Restricted_**
**_Freemasons_**
-
**_ESC Lottery Fund_**
1000.00
**_One Community_**
2575.50
**_Tesco Bags for All_**
858.50
**_Tesco Bags for All (balance)_**
**_Unrestricted_**
500.00
Donations
1193.50
Subscriptions
2477.50
Weekend away
248.00
Blind Drunk social
85.25
AGM
5000.00
Yorkshire Water
85.00
Sale of bicycles
1627.92
C2C in a Day
100.00
Residential mileage not claimed
16.00
Miscellaneous donations
519.29
Gift Aid Reclaims from HMRC
-
Amazon Europe Core
-
Christmas Social, etc|**Payments**
**Dec-19**
**-**
350.01
Track hire
**-**
**12510.45**
29.39
Bank charges
-
**139.02**
470.54
Tandem Maintenance
44.99
2215.20
Tandem storage
2101.32
2500.00
305.15
Volunteer Expenses
72.00
1220.00
410.70
Tandem transport
500.00
361.00
Insurance
712.00
-
99.00
Affiliations
154.00
-
2389.45
Weekend away
-
5142.50
Tandem purchases
-
320.00
16.68
Sundries
-
90.00
68.38
Web domain & hosting
68.38
-
399.00
iPad
-
213.66
76.20
2-Way radio
-
-
211.86
Clothing subsidy
-
-
-
Zoom subscriptions
129.51
1335.98
-
YHA lost deposit for P Stark
159.80
-
-
PPE Equipment
254.52
-
-
Racks for storage
54.98
10.00
103.42
**Closing balances:**
5.00
360
**12510.45**
**Yorkshire**
**15556.03**
**139.02 **
**Cash on hand**
**0.00**|**Payments**
**Dec-19**
**-**
350.01
Track hire
**-**
**12510.45**
29.39
Bank charges
-
**139.02**
470.54
Tandem Maintenance
44.99
2215.20
Tandem storage
2101.32
2500.00
305.15
Volunteer Expenses
72.00
1220.00
410.70
Tandem transport
500.00
361.00
Insurance
712.00
-
99.00
Affiliations
154.00
-
2389.45
Weekend away
-
5142.50
Tandem purchases
-
320.00
16.68
Sundries
-
90.00
68.38
Web domain & hosting
68.38
-
399.00
iPad
-
213.66
76.20
2-Way radio
-
-
211.86
Clothing subsidy
-
-
-
Zoom subscriptions
129.51
1335.98
-
YHA lost deposit for P Stark
159.80
-
-
PPE Equipment
254.52
-
-
Racks for storage
54.98
10.00
103.42
**Closing balances:**
5.00
360
**12510.45**
**Yorkshire**
**15556.03**
**139.02 **
**Cash on hand**
**0.00**|
|---|---|---|---|
|25194.53||**19307.53**|**25194.53**
**19307.53**|
|Opening balances
Yorkshire
Cash on hand
Closing balances
Cash on hand
Yorkshire
Surplus(Deficit) on year||12510.45
139.02
12649.47
0.00
transfer to bank 21.03.2020
15556.03
15556.03
2906.56||
## **Receipts**
## **ACS 2020 RECEIPTS**
## **£**
## **£**
|**RESTRICTED**
One Community (Re
jerseys)
ESC Lottery Fund
Freemasons
**Total:**|500.00
1220.00
2500.00
**4220.00**|**UNRESTRICTED**
Blind Drunk 2020
Subscriptions
Tax refunds
Sale of bicycle
Amazon Core (?)
YHA deposits donated
Misc. Donation R Forrest
Misc. Donation J&S
Draycott
Sale of Thorn Tandem
Sale of Hase Pino Tandem
Sale of Raleigh Tandem
Sale of Red Viking
Sale of red French
tandem
Sale of bars
Misc. Donation D&D
Marsden
Misc. Donation John
Tayler
Christmas Social
**Total:**|213.66
90.00
103.42
160.00
5.00
100.00
10.00
100.00
301.00
500.00
120.00
200.00
50.00
4.98
100.00
20.00
360.00
**2438.06**|**TOTAL**
**6658.06**|**EXPEND.**
**3751.50**|**SURPLUS**|
|---|---|---|---|---|---|---|
|||||||**(DEFICIT)**|
|||||||
**2906.56**|
## **Payments**
## **ACS 2020 PAYMENTS**
|**STORAGE COSTS**|**(MONTHLY**|||
|---|---|---|---|
|**SO)**||**MISCELLANEOUS**||
||**£**||**£**|
|JANUARY|184.60|INSURANCE|712.00|
|FEBRUARY|184.60|MILEAGE|72.00|
|MARCH|184.60|NEW TANDEMS|-|
|APRIL|184.60|BRITISH CYCLING/CUK|154.00|
|MAY|184.60|REPAIRS/PARTS|44.99|
|JUNE|184.60|WEB DOMAIN/SITE|68.38|
|JULY|184.60|ZOOM SUBSCRIPTION|129.51|
|AUGUST|184.60|PPE EQUIPMENT|254.52|
|SEPTEMBER|184.60|RACKS FOR STORAGE|54.98|
|OCTOBER|146.64|TRACK HIRE|-|
|NOVEMBER|146.64|RESIDENTIAL WEEKEND|159.80|
|DECEMBER|146.64|||
**2101.32**
**1650.18 3751.50 Total**
## **Asset Valuation**
|**Operational fleet - Dec 2020**|**VALUATION**||
|---|---|---|
||**Estimate**|**Basis**|
|PurpleOrbit|£ 400.00|A|
|Emmerdale 1|£ 100.00|A|
|Pink MTB|£ 50.00|A|
|Black Dawes|£ 400.00|A|
|Silver Dawes|£ 300.00|A|
|Yellow Red Thorn|£ 300.00|A|
|Black Orbit|£ 600.00|A|
|Blue Orbit - Lrge 1|£ 1,000.00|B|
|Blue Orbit - Med 1|£ 1,000.00|B|
|Blue Orbit - Med 2|£ 1,000.00|B|
|Blue Orbit - Lrge 2|£ 1,000.00|B|
|Blue Orbit - Med 3|£ 1,000.00|B|
|Blue Orbit - Sm 1|£ 1,000.00|B|
|Silver Orbit|£ 600.00|A|
|Grey Viking|£ 200.00|A|
|Orange Dawes|£ 300.00|A|
|Grey Viking|£ 200.00|A|
|Blue Orbit Drops|£ 600.00|A|
|**Non-operational pending disposal - held within main store**|||
|Blue Claud|£ 100.00|A|
|White Viking|£ 100.00|A|
|Red Orbit|£ 150.00|C|
|Yellow Moto|£ 200.00|D|
|**Other non-bike assets**|||
|7 bike trailer - purchased 2019|£ 400.00|E|
|4 bike trailer - purchased 2017|£ 250.00|E|
|Tools various|£ 250.00|F|
|Spare parts - various|£ 150.00|G|
|2 x Ride leader packs|£ 150.00|H|
|**TOTAL ASSET VALUATION**|**£11,800.00**||
|**Basis of Valuation (Legend)**|||
- A Reference to eBay / Gumtree recent sales
- B Price new (£1,800) being depreciated to residual value (£600) after 3 years - straight line depreciation C Possible sale price
- D Agreed sale price
- E Estimate of second-hand value - B Harle
- F Estimate of replacement cost of all tools new - B Harle
- G Estimate of value to replace useful spares - B Harle H Estimate of value to replace - B Harle