Trustees’ Annual Report for the period From 2 April 2022 To 1 April 2023 Charity name: THE GERAINT THOMAS CYCLING TRUST Charity registration number: 1187564 Objectives and Activities ||SORP
reference|| |---|---|---| |Summary of the
purposes of the charity
as set out in its governing
document|Para
1.17|•To promote the amateur sport of
cycling amongst young people up to
the age of 18, in 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
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|•
We will provide a grant fund and
support programme for young
people.
•
We will work in partnership with
other cycling organisations to
promote cycling.
•
We will develop a network of
community volunteer mentors to
support young people’s participation
within the sport.
•
We will partner with local
organisations, clubs and schools| |||who 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
whether the trustees
have had regard to the
guidance issued by the
Charity Commission on
public benefit|Para
1.18|All Trustees act in accordance with the
Charity Commission guidance on public
benefit.
•
they have complied with the duty in
section 4 of the 2006 Act to have
due regard to guidance on public
benefit published by the commission| Additional information (optional) You may choose to include further statements where relevant about: ||SORP
reference|| |---|---|---| |Policy on grant making|Para 1.38|•
Development of processes for
individuals and organisations to
make applications was
implemented and followed
through successfully with a
formal launch undertaken during
Q4 2023 on the website
welcoming applications| |Policy on social
investment including
program related
investment|Para 1.38|The Trust does not currently have a
policy on social investment and do not
currently have any plans to make any
social investments.| |Contribution made by
volunteers|Para 1.38|•All trustees have been involved
in the development of the areas
identified above , it is a relatively
small group who have given an
immense amount of time
themselves to get the Trust to
this position and have called on
contacts to carry out technical
areas in the main probono . All
trustees give their time freely and
no Trustee remuneration was
paid| 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|•During the period 2022 and 2023
the strategy of the Trust has
been to start supporting its
intended recipients with
monetary support and
signposting to ensure more
children enjoy the experience of
cycling consistently following the
prior year where we established
the correct levels of governance
following Charity Commission
guidance.
•During this period we supported
a number of applications totalling
£5,440 in grants being awarded,
which had a positive impact
across Wales initially of approx.
120 children.
•The ambition for this financial
year was to establish ourselves,
test our processes and support a
manageable number of
applications prior to wider
communications of the Trust
being able to support many. We
managed the process well and
are delighted at the impact we
have had and the tangible
feedback from grant recipients.| • As we built confidence and capability as a group of Trustees, we also established engagement and started to pro-actively engage with the communities in which we are trying to support both in person and via social media platforms. 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
•
Adoption of a Business Plan,
which includes:
`o` Sponsorship plan with tiers and
clear offer to partners
`o` Financial management to set
targets for income and
expenditure and cashflow
`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 conflict of interest
`o` Risk register completed and
Trustees have considered the| |---|---|---|---| |||major risks to which the
organization is exposed to.
•
Parameters developed for Grant
awards| |---|---|---| |Performance of
fundraising activities
against objectives set|Para 1.41|•Our objectives remain fit for
purpose. The Trust was
successful in attracting initial
donations from a number of
individuals. However, 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 enabled us to
start the latest financial year with
greater expertise and capacity to
support more applications in a
compliant manner.
•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.| |Investment performance
against objectives|Para 1.41|No investments have been made| |Other||| ## Financial Review |Review of the charity’s
financial position at the
end of the period|Para 1.21|•The charity was registered on 24
January 2020. These accounts
are for the period from 2 April
2022 to 1 April 2023. The charity
received donations of £12,731
and raised £40,701 via fund
raising events, spending £24,806
of which £5,440 were to
supported applications. As of 1
April 2023 the charity has a
surplus of £66,830.
•The Trustees will be looking to
support more applications and
making sure that the funds we
have raised are deployed
appropriately, as we now have
sufficient reserves in place to
support more applications. The
growth in our reserves has been
strategic in gathering funds first,
support a small number of
applications initially, before
widening our reach once we
have the financial means to
deliver and truly build a legacy
for the communities we seek to
support.| |---|---|---| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|The charity’s policy is to hold reserves
for use in future periods for the
purposes of the charity.| |Amount of reserves held|Para 1.22|£66,830| |Reasons for holding zero
reserves|Para 1.22|n/a| |Details of fund materially
in deficit|Para 1.24|n/a| |Explanation of any
uncertainties about the
charity continuing as a
going concern|Para 1.23|n/a| Additional information (optional) You may choose to include further statements where relevant about: • £40,701 was raised via several areas, firstly, a fundraising dinner |The charity’s principal
sources of funds
(including any
fundraising)|Para 1.47|held in October 2022. Secondly,
by way of high net worth
individuals donating and finally,
SME businesses partnering to
support the wider community as
part of their CSR strategy.| |---|---|---| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|The Trust does not currently have an
investment policy or social investment
policy, this may be developed in 2024
as required| |A description of the
principal risks facing the
charity|Para 1.46|•The risks at this still relatively
early stage are associated with
reputation in terms of how we
deploy our financial support.
•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 support on a targeted basis
ahead of reaching a wider
audience in 2024 and beyond.| |Other||The Trust will consider a reserves policy
in 2024 as funds increase.| Structure, Governance and Management |Description of charity’s
trusts:||| |---|---|---| |Type of governing
document
(trust deed, royal charter)|Para 1.25|• The Geraint Thomas Cycling Trust is
governed by its constitution that was
approved 13/01/2020.| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|• The charity is formed and constituted
as a Charitable Incorporated
Organisation (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|• Apart from the first charity trustees,
every appointed trustee must be
appointed for a term of three years by a
resolution passed at a properly
convened meeting of the charity
trustees.
• In selecting individuals for
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.| 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|Each new Trustee executes a code of
conduct and conflict of interest
declaration on their appointment.| |---|---|---| |The charity’s
organisational structure
and any wider network
with which the charity
works|Para 1.51|| |Relationship with any
related parties|Para 1.51|| Other ## Reference and Administrative details |Charity name|THE GERAINT THOMAS CYCLING TRUST| |---|---| |Other name the charity
uses|| |Registered charity number|1187564| |Charity’s principal address|• The principal office of the GTCT is Geraint Thomas
National Velodrome, for Wales, Newport International
Sports Village, Newport, South Wales NP19 4RB.| ||| ## 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
(if any)| |---|---|---|---|---| ||Adrian Coles|Chairman||| ||Anne Adams
King||Finished 02/01/23|Welsh Cycling Ex Offcio| ||Mike Leeson||Finished 01/09/23|| ||Darren Tudor|||Geraint Thomas| ||Chris Landon||Finished 30/06/23|Welsh Cycling| ||Rhodri Lewis|||| ||Arwel Lewis|||| ||Christine Gibbons|||| ||Owen Hathway|||| ||Wayne Brown||Started 01/11/23|| ||Caroline Spanton||Started 02/02/23|Welsh CyclingEx Offcio| ||Robbie George||Started 01/08/23|Welsh Cycling| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| – Corporate trustees names of the directors at the date the report was approved Director name Adrian Coles Caroline Spanton Wayne Brown Darren Tudor Robbie George Rhodri Lewis Owen Hathway Arwel Lewis Christine Gibbons 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 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||| |Accounta
nt|Barford Owen
Davies Ltd|Sophia House, 28 Cathedral Road, Cardiff. 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)
Position (eg Secretary,
Chair, etc)
[INSERT NEW DATE}
Signature(s)
Full name(s)
Position (eg Secretary,
Chair, etc)
[INSERT NEW DATE}||| |---|---|---| ||Adrian Coles|| ||
Chair|| ||03/02/2024|| |||| ||
Christine Gibbons|| ||
Trustee|| ||
03/02/2024|| ||
03/02/2024|| **THE GERAINT THOMAS CYCLING TRUST** **1187564** ## **Receipts and payments accounts** **CC16a** |**For the period**
**from**|02-Apr-22|**To**|01-Apr-23| |---|---|---|---| |**Section A Receipts and payments**|**Section A Receipts and payments**|**Section A Receipts and payments**|||||||| |---|---|---|---|---|---|---|---|---|---| |**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest £**||**Restricted funds**
**to the nearest £**||**Endowment**
**funds**
**to the nearest £**||**Total funds**
**to the nearest £**||**Last year**
**to the nearest £**| |
Donations|**12,731**||**-**||**-**||**12,731**||**37,134**| |Fund RaisngEvents|**40,701**||**-**||**-**||**40,701**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| |**_Sub total_**_(Gross income for AR)_|**53,432**||**-**||**-**||**53,432**||**37,134**| ||||||||||| |**A2 Asset and investment sales,**
**(see table).**|||||||||| ||**-**||||||||| ||**-**||||||||**-**| |**_Sub total_**|**-**||||||||**-**| |**_Total receipts_**
**A3 Payments**|||||||||| ||||||||||**37,134**| ||||||||||| |
Grants to Benificiaries|**5,440**||**-**||**-**||**5,440**||**-**| |Cost of Fund RaisingEvents|**16,937**||**-**||**-**||**16,937**||**-**| |Administrative Expenses|**2,429**||**-**||**-**||**2,429**||**2,362**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| |**_Sub total_**|**24,806**||**-**||**-**||**24,806**||**2,362**| ||||||||||| |**A4 Asset and investment**
**purchases, (see table)**|||||||||| ||**-**||||||||| ||**-**||||||||| |**_Sub total_**|**-**||||||||**-**| |**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**|||||||||| ||||||||||**2,362**| ||||||||||| ||**28,626**||||||||**34,772**| ||**-**||||||||**-**| ||**38,204**||||||||**3,432**| ||**66,830**||||||||**38,204**| ## **Section B Statement of assets and liabilities at the end of the period** |CCXX R1 accounts (SS)
**Categories**
**B1 Cash funds**|1
Bank Account
Paypal Account
**Details**
**_Total cash funds_**|**Unrestricted**
**funds**
**to nearest £**
**66,070**
**760**
**-**
**66,830**|**Restricted funds**
**to nearest £**
**-**
**-**
**-**
**-**|**Endowment**
**funds**
**to nearest £**| |---|---|---|---|---| |||**66,070**|**-**|**-**| |||**760**|**-**|**-**| |||**-**|**-**|**-**| |||**66,830**|**-**|3/02/2024
**-**| CCXX R1 accounts (SS) |Signed by one or two trustees on
behalf of all the trustees
**B2 Other monetary assets**
**B4 Assets retained for the**
**charity’s own use**
**B5 Liabilities**
**B3 Investment assets**|Signature
**Details**
**Details**
**Details**
(agree balances with receipts and payments account(s))
**Details**|OK
OK
**Unrestricted**
**funds**
**Restricted funds**
**to nearest £**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which asset**
**belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**Fund to which asset**
**belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**liability relates**
**Amount due**
**(optional)**
**-**
**-**
**-**
**-**
**-**
Print Name
AdrianColes
Christine Gibbons|OK| |---|---|---|---| ||||**Endowment**
**funds**
**to nearest £**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**When due**
**(optional)**| ||||| ||||| ||||| ||||| ||||| ||||| ||||Date of approval| ||||03/02/2024| ||||03/02/2024| ||||| CCXX R2 accounts (SS) 03/02/2024 2