2022-04-01-accounts

Trustees’ Annual Report for the period

From 2 April 2021 To 1 April 2022

Charity name: THE GERAINT THOMAS CYCLING TRUST Charity registration number: 1187564

Objectives and Activities

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SORP
referenc
e
Summary of the Para  To promote the amateur sport of
1.17
purposes of the cycling amongst young people
charity as set out in its up to the age of 18, in
governing document particular, young people who
face barriers to participation in
the sport by the provision of
such support and financial
grants, assistance, education
and facilities for participation
and wider involvement in the
sport.
 The Geraint Thomas Cycling
Trust was launched in October
2021 and aims to support
children from 7-18 years-old
and has high ambitions to help
children enjoy the sport of
cycling. Over the next 10 years,
the Geraint Thomas Trust wants
to help 5000 children to
experience the sport which has
given Geraint so much.
Summary of the main Para • We will provide a grant fund and
1.17
activities in relation to and support programme for young people.
those purposes for the 1.19 • We will work in partnership with
public benefit, in other cycling organisations to promote
particular, the cycling.
activities, projects or • We will develop a network of
services identified in community volunteer mentors to
the accounts. support young people’s participation
within the sport.
• We will partner with local
organisations, clubs and schools who
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can make referrals and applications
for support from us.
• We will work with others in the
cycling sector including organisations
such as Welsh Cycling, retailers, other
charities.
Statement confirming Para 1.18 All Trustees act in accordance with the
whether the trustees Charity Commission guidance on
have had regard to the public benefit.

guidance issued by they have complied with the
the Charity duty in section 4 of the 2006 Act
Commission on public to have due regard to guidance
benefit on public benefit published by
the commission
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Additional information (optional) You may choose to include further statements where relevant about:

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SORP reference
 Grants process
Para 1.38 o Research carried out
Policy on grant making with Street Games to
identify needs of young
people and understand
best way to support
o Development of
processes for individuals to
make applications has
commenced and awards
have started to be
allocated
Policy on social The Trust does not currently have a
investment including Para 1.38 policy on social investment and do
program related not currently have any plans to
investment make any social investments.
Para 1.38 All Trustees have been involved in
Contribution made by the development of the areas
volunteers identified above. The Trustees are
a relatively small group who have
given an immense amount of time
to get the Trust to this position and
have called on contacts to assist
the Trust. All trustees give their
time freely and no Trustee was
paid (other than the
reimbursement of travel expenses
in accordance with the Trust’s
policy). A number of volunteers
have also contributed to the
success of the Trust to date.
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Other

Achievements and Performance

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SORP reference
Whilst the Trust was formed in
January 2020, due to delays
brought about by the COVID
Summary of the main Para 1.20 pandemic, it was launched
achievements of the formally in October 2021 to its
charity, identifying the intended audience.
difference the charity’s
work has made to the During this annual reporti ng
circumstances of its period the strategy of the Trust
beneficiaries and any has been to i mplement the
wider benefits to infrastructure and policies to
society as a whole. enable it to carry out its
objectives.
The Truste es have been working
to identify the needs of young
people, preparing the grant
application and evaluation
process. The Trust launched its
website, prepared promotional
materials and staged a launch
event to engage partners to invest
in the Trust to support its
objectives.
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Additional information (optional) You may choose to include further statements where relevant about:

	Achievements against objectives set	Para 1.41	The Trust has achieved the following:  Marketing and branding to engage with sponsors, partners and potential grant applicants, this has included:  Developing a

		Communications plan, which
		included:
	o	Development of the Trust’s
		website
	o	Brochure explaining the
		Trust and partnership
		opportunities in tiers
	o	Video from Geraint Thomas
	o	Brand development other
		promotional material and
		logo
	o	Social media accounts set
		up
	o	Launch of Trust with media
		coverage
		Adoption of a Business Plan,
		which includes:
	o	Sponsorship plan with tiers
		and clear ofer to partners
	o	Financial management to
		set targets for income and
		expenditure and cashfow
	o	Gift aid registration with
		HMRC
		Building capacity
	o	Skills audit on Trustees
		based on needs of the trust
	o	Trustee recruitment
		based on skills needs.
	o	4 new Trustees
		recruited
		Governance
	o	Policies in place for
		Safeguarding young people
		and vulnerable adults
	o	Policy on Welsh language
	o	Policy on confict of interest
	o	Risk register completed
		and Trustees have
		considered the major risks
		to which the organization is
		exposed to.

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 Parameters developed for
Grant awards
Our objectives remain fit for
purpose. The Trust was successful
Performance of in attracting initial donations from
Para 1.41
fundraising activities a number of individuals. However,
against objectives set during the financial year it was
established that extra Trustee
capacity, with additional skillsets,
were required, This was actioned in
February 2022 with 4 additional
Trustees joining.
These additions will enable the
Trust to start the next following
financial year (year ending April
2023) in a much stronger position
for fundraising and to reach and
support the audience we wish to
serve.
We remain on course to hit our
objectives of growth as detailed in
our original business plan and
indeed surpass the levels of
support we originally desired.
No investments have been made
Investment Para 1.41
performance against
objectives
Other
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Financial Review

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Review of the charity’s Para 1.21 The charity was registered on 24
financial position at January 2020. The accounts are for
the end of the period the period from 2 April 2021 to 1
April 2022. The charity received
donations of £37,134 in the period
and has spent £2,362. As of 1 April
2022 the charity has a surplus of
£38,204.
Statement explaining Para 1.22 The charity’s policy is to hold
the policy for holding reserves for use in future periods
reserves stating why for the purposes of the charity.
they are held
Amount of reserves Para 1.22 £38,204
held
Reasons for holding Para 1.22 n/a
zero reserves
Details of fund Para 1.24 n/a
materially in deficit
Explanation of any Para 1.23 n/a
uncertainties about
the charity continuing
as a going concern
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Additional information (optional) You may choose to include further statements where relevant about:

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This will largely be through the
business community, other grant
The charity’s principal assisting bodies and personal
Para 1.47
sources of funds donations.
(including any
fundraising)
The Trust does not currently have
an investment policy or social
Investment policy and investment policy, this may be
Para 1.46
objectives including developed in 2023 as required
any social investment
policy adopted
The risks at this still relatively
early stage are associated with
A description of the Para 1.46 reputation in terms of how we
principal risks facing deploy our financial support.
the charity
Also associated with this would be
if we were to receive a significant
amount of applications whilst we
are still implementing the grant
governance process.
Both of these risks are mitigated
by a slow but sensible approach to
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support on a targeted basis ahead
of reaching a wider audience in
2023.
The Trust will develop a reserves
Other policy in 2023 as funds increase
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Structure, Governance and Management

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Description of charity’s
trusts:
Type of governing Para 1.25 • The Geraint Thomas Cycling
document Trust is governed by its
(trust deed, royal constitution that was approved
charter) 13/01/2020.
How is the charity Para 1.25 • The charity is formed and
constituted? constituted as a Charitable
(e.g unincorporated Incorporated Organisation (CIO).
association, CIO)
Trustee selection Para 1.25
methods including • Apart from the first charity
details of any trustees, every appointed trustee
constitutional must be appointed for a term of
provisions e.g. election three years by a resolution passed
to post or name of any at a properly convened meeting of
person or body the charity trustees.
entitled to appoint one • In selecting individuals for
or more trustees appointment as appointed charity
trustees, the charity trustees must
have regard to the skills,
knowledge and experience needed
for the effective administration of
the CIO.
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Additional information (optional)
You may choose to include further statements where relevant about:
Each new Trustee executes a code
of conduct and conflict of interest
Policies and declaration on their appointment.
Para 1.51
procedures adopted
for the induction and
training of trustees
The charity’s
Para 1.51
organisational
structure and any
wider network with
which the charity
works
Relationship with any Para 1.51
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related parties Other

Reference and Administrative details

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Charity name THE GERAINT THOMAS CYCLING TRUST
Other name the charity
uses
Registered charity 1187564
number
Charity’s principal • The principal office of the GTCT is Geraint Thomas
address National Velodrome, for Wales, Newport International
Sports Village, Newport, South Wales NP19 4RB.
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Names of the charity trustees who manage the charity

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Name of person (or body)
Dates acted if not for
Trustee name Office (if any) entitled to appoint trustee (if
whole year
any)
1 Adrian Coles Chairman
Anne Adams Welsh Cycling Ex Offcio
2
King
3 Mike Leeson
4 Darren Tudor Geraint Thomas
5 Chris Landon Welsh Cycling
6 Eifion Thomas Finished 19-02-22
7 Rhodri Lewis Started 20-02-22
8 Arwel Lewis Started 20-02-22
Christine Started 20-02-22
9
Gibbons
10 Owen Hathway Started 20-02-22
11
12
13
14
15
16
17
18
19
20
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Corporate trustees – names of the directors at the date the report was approved

Director name Adrian Coles Anne Adams King Mike Leeson Darren Tudor Chris Landon Rhodri Lewis Owen Hathway Arwel Lewis Christine Gibbons

Name of trustees holding title to property belonging to the charity

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Trustee name Dates acted if not for whole
year
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Funds held as custodian trustees on behalf of others Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Additional information (optional) Names and addresses of advisers (Optional information)	Additional information (optional) Names and addresses of advisers (Optional information)	Additional information (optional) Names and addresses of advisers (Optional information)
Type of adviser Name Address
Account ant	Barford Owen Davies Ltd	Sophia House, 28 Cathedral Road, Cardif. CF11 9LJ.

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

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) Adrian Coles Position (eg Chair Secretary, Chair, etc) [INSERT NEW DATE} 18/01/23 Signature(s) Full name(s) Arwel Lewis Position (eg Secretary, Trustees Chair, etc) [INSERT NEW DATE} 18/01/23

THE GERAINT THOMAS CYCLING TRUST 1187564

Receipts and payments accounts For the period 2-Apr-21 1-Apr-22 To from

Section A Receipts and payments

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Unrestricted Restricted Endowment
Total funds
funds funds funds
to the nearest
to the nearest £ to the nearest £ to the nearest £
£
A1 Receipts
Donations 37,134 - - 37,134
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
37,134 - - 37,134
Sub total (Gross income for AR)
A2 Asset and investment sales,
(see table).
- - - -
- - - -
Sub total - - - -
Total receipts 37,134 - - 37,134
A3 Payments
Administration costs for Website and Email
domains 2,362 - - 2,362
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
Sub total [ 2,362 ] - - 2,362
A4 Asset and investment
purchases, (see table)
- - - -
- - - -
Sub total [ - ] - - -
Total payments 2,362 - - 2,362
Net of receipts/(payments) 34,772 - - 34,772
A5 Transfers between funds - - - -
A6 Cash funds last year end 3,432 - - 3,432
Cash funds this year end 38,204 - - 38,204
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Section B Statement of assets and liabilities at the end of the period

			Unrestricted		Restricted
Categories	Details		funds		funds
B1 Cash funds		Total cash funds	to nearest £ 38,204 - - 38,204		to nearest £ - - - -
	(agree	balances with receipts and payments account(s))	OK	OK
			Unrestricted		Restricted
			funds		funds
B2 Other monetary assets	Details		to nearest £ - - - - - -		to nearest £ - - - - - -
B3 Investment assets	Details		Fund to which asset belongs	Cost (optional) - - - - -
B4 Assets retained for the	Details		Fund to which asset belongs	Cost (optional) -
charity’s own use					- - - - - - - -
			Fund to which		Amount due
B5 Liabilities	Details		liability relates		- - - - - (optional)
Signed by one or two trustees on behalf of all the trustees		Signature	Print	Name
			Adrian Coles Arwel Lewis

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CC16a
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Last year

to the nearest £

-

-

-

-

Endowment funds

to nearest £ - - - -

OK

Endowment funds to nearest £ - - - - - -

Current value (optional) - - - - -

Current value (optional)

When due (optional)

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Date of
approval
9/1/2022
1/14/2023
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42 Mill Road Llsvane Cardlff CF14 OXP 23 January 2023 Adrian Coles Chairman The Geralnt Thomas Cycling Trust Geraint Thomas National Velodrome Newport International Sports Village Newport NP19 4RB Dear Adrian Accounts for the year ended l April 2022 Please find enclosed my report on the Trust's accounts for 2022 together with a copy of the accounts on which l am reporting which I have initialled for identlfication purposes. Kind regards Yours slncerely Davld Peek

Independent examiner's report to the trustees of The Geraint Thomas Cycling Trust I report to the trustees on my examination of the accounts of The Geraint Thomas Trust ("the Trust") for the year ended 1 April 2022. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commi55ion under section 145(5)(b) of the Act. Independent examlner's statement I have compleled my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect., accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or 2. the accounts do not accord with those records. 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. Signed.. Name: Peek Chartered Accountant Address: South Haven, 42 Mill Road. Lisvane, Cardiff, C14 OXL Date: ts SAtr)JP£e)< 2olS