Trustees’ Annual Report for the period
From 2 April 2023 To 1 April 2024
Charity name: THE GERAINT THOMAS CYCLING TRUST
Charity registration number: 1187564
Objectives and Activities
| Objectives and Activities | ||
|---|---|---|
| SORP reference |
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| 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 (the “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 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 Beicio Cymru |
| (formerly 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:
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SORP
reference
The Trust has developed a process for individuals
and groups (typically schools, cycling clubs and
Policy on grant making Para 1.38 youth groups) to make grant applications. The
grants process is overseen by certain designated
Trustees with requests for final grant approval
brought before the Trustees as a whole. Grants
are now regularly made to successful applicants.
Policy on social The Trust does not currently have a policy on
investment including social investment and do not currently have
program related Para 1.38
any plans to make any social investments.
investment
All Trustees have been involved in the
development of the areas identified above.
Contribution made by Para 1.38
The Trustees are a relatively small group who
volunteers
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.
Other
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Achievements and Performance
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SORP
reference
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| SORP reference |
SORP reference |
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 this annual reporting period the strategy of the Trust has been to: raise its profile to attract more grant applications. launch the grant application process. and to start making grants to individuals and groups that meet the Trust’s criteria start evaluating the impact made by the grants made by the Trust |
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: Launching the grant application process with parameters developed following extensive diligence to ensure the Trust is able to support those it was set up to support, in an efficient and fair manner. Reviewed its Communications plan and options on how we continue to drive growth of both fundraising and deployment of funds to appropriate applications. Fundraising event in London widening the reach of the Trust and raising valuable funds that have continued to be deployed to applicants across England and Wales. Governance o Policies in place for Safeguarding youngpeople and vulnerable adults o Policy on Welsh languageo Policy on conflict of interesto Risk register completed and Trustees haveconsidered the major risks to which the organization is exposed to. |
|---|---|---|
| Our objectives remain fit for purpose. The Trust was successful in attracting initial |
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Performance of donations from a number of individuals
fundraising activities which was via a fundraising dinner in London
against objectives set Para 1.41 November 2023 where we were able to
auction items and experiences to the
attendees. This complimented the revenue
generated from the ticket sales.
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 performance
against objectives Para 1.41
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 January
financial position at the 2020. The accounts are for the period from
end of the period
2 April 2023 to 1 April 2024. The charity
received donations of £5,583 and raised
money via the London fundraising event of
£35,335 in the period and has spent
£33,826. As of 1 April 2024, the charity has
a surplus of £73,922.
Statement explaining the Para 1.22 The charity’s policy is to hold reserves for
policy for holding reserves use in future periods for the purposes of
stating why they are held
the charity.
Amount of reserves held Para 1.22 £73,922.
Reasons for holding zero Para 1.22 n/a
reserves
Details of fund materially Para 1.24 n/a
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:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | This will largely be through the business community, other grant assisting bodies and personal donations made at Fundraising events. |
|---|---|---|
| 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 2024/25 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 which would stretch our financial capability. Both risks are mitigated by the Trust adopting a diligent and sensible approach to deploy our funds on a targeted basis, whilst being mindful of reserves and working closely with inbound applications to understand the financial need. We didn’t complete the creation of a Other Reserves Policy as hoped, however, The Trust will develop a reserves policy in 2024/25 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
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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.
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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
whole year
(if any)
1 Adrian Coles Chairman
Caroline Spanton Beicio Cymru (formerly
2
Welsh Cycling) Ex Offcio
3 Wayne Brown
4 Darren Tudor Geraint Thomas
Robbie George Beicio Cymru (formerly
5
Welsh Cycling)
6 Rhodri Lewis
7 Arwel Lewis
8 Christine Gibbons
9 Owen Hathway
10
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 n/a
Name of trustees holding title to property belonging to the charity
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Trustee name Dates acted if not for
whole year
n/a
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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)
| Type of adviser |
Name Address |
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) Adrian Coles Position (eg Secretary, Chair Chair, etc) [INSERT NEW DATE} 10/12/2024 Signature(s) Full name(s) Arwel Lewis Position (e.g. Secretary, Trustee Chair, etc) [INSERT NEW DATE} 10/12/2024
THE GERAINT THOMAS CYCLING TRUST 1187564 Receipts and payments accounts For the period Period start date Period end date To from 2-Apr-23 1-Apr-24
CC16a
Section A Receipts and payments
| A1 Receipts | Unrestricted funds to the nearest £ 5,583 35,335 - - - - - - 40,918 - - - 40,918 15,796 14,319 3,711 - - - - - - 33,826 - - - 33,826 7,092 - 66,830 73,922 |
Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
Endowment funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
Total funds to the nearest £ 5,583 35,335 - - - - - - 40,918 - - - 40,918 15,796 14,319 3,711 - - - - - - 33,826 - - - 33,826 7,092 |
Total funds to the nearest £ 5,583 35,335 - - - - - - 40,918 - - - 40,918 15,796 14,319 3,711 - - - - - - 33,826 - - - 33,826 7,092 |
Last year to the nearest £ |
|---|---|---|---|---|---|---|
| Donations | 5,583 | 12,731 | ||||
| Fund RaisingEvents | 35,335 | 40,701 | ||||
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| - | - | |||||
| - | - | |||||
| - | - | |||||
| Sub total(Gross income for AR) |
40,918 | 53,432 | ||||
| A2 Asset and investment sales, (see table). |
||||||
| - | ||||||
| - | - | |||||
| Sub total | - | - | ||||
| Total receipts A3 Payments |
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| 53,432 | ||||||
| Grants to Beneficiaries | 15,796 | 5,440 | ||||
| Cost of Fund RaisingEvents | 14,319 | 16,937 | ||||
| Administrative Expenses | 3,711 | 2,429 | ||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| **Sub total ** | 33,826 | 24,806 | ||||
| A4 Asset and investment purchases, (see table) |
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| - | ||||||
| - | ||||||
| **Sub total ** | - | - | ||||
| Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end |
||||||
| 24,806 | ||||||
| 7,092 | - | - | 7,092 |
28,626 | ||
| - | - | - | - | - | ||
| 66,830 | - | - | 66,830 | 38,204 | ||
| 73,922 | - | - | 73,922 | 66,830 |
CCXX R1 accounts (SS)
1
Section B Statement of assets and liabilities at the end of the period
| Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B3 Investment assets B2 Other monetary assets B4 Assets retained for the charity’s own use B1 Cash funds |
Details Details Details Details Total cash funds (agree balances with receipts and payments account(s)) Details Bank Account Signature |
Unrestricted funds Restricted funds to nearest £ to nearest £ 73,922 - - - - - 73,922 - 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 Adrian Coles Arwel Lewis |
Endowment funds to nearest £ |
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| - | |||
| - | |||
| - | |||
| - | |||
| OK | |||
| Endowment funds to nearest £ |
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| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
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| Current value (optional) |
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| When due (optional) |
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| Date of approval |
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| Adrian Coles | 10/12/2024 | ||
| Arwel Lewis | 10/12/2024 |
CCXX R2 accounts (SS)
2
CHARITY (OMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examinerfs Report Report to the trustees The Geraint Thomas Cycling Trust On accounts for the year ended 1 April 2024 Chanty no lif any) 1187564 report to the trustees on my examination of the accounts of the above Gharity ("the Trust'l for the year ended 01 April 2024. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparalion of the accounts in accordan with the requirements of the Charities Act 2011 I'mhe Act"). report in respect of my examination of the Trust's accounts carrÉed 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 Commission under section 145(51{b} of the Act. Independent examiner's statement I have completed my examination. I corfimi that no material matters have come lo my attention in connection with the examination (other than that disclosed below ') which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance wth sedion 130 of the Charities Act- or the accounts did not accord with the accounting records. I have no concerns and have come across no other matters in connection with the examination to which attenlion should be drawn, in order to enable a proper understanding ofthe accounts to be reached. Signed.. Date: 1711212024 Name: Iwan Lloyd Jones FCA Relevant professional qualificalionls) or body (if any): ICAEW Address: 5-7 Cathedral Road Cardiff CF119HA