Women in Tri End of Year Report 2023
Contact Information:
Registered Charity Number: 1203093
Principal address: 49 Marlborough Mansions Cannon Hill London NW6 1JS
www.fundhertriuk.org | @fundhertriuk
Introduction
Women in Tri, operating as Fund Her Tri UK, aims to bring women and non-binary individuals into the sport of triathlon. We raise funds to support a number of initiatives that help reduce some of the barriers faced at entry level. Our support is directed towards women and non-binary people with less than three years experience in the sport.
To do this, we rely on community donations, generosity and dedicated volunteers.
Our structure
Women in Tri became an official charity in March 2023 with volunteers coming to the project and registering as Trustees for the following four-year term. All the work is conducted by a small team of very dedicated volunteers, and we do not have any paid employees. New trustees will be recruited and appointed when the current term is due to close.
The charity currently has 10 volunteers that work in six different sub-teams: Mentorship, Coaching & Grants, Secretary & Sponsorship, Social Media, Partnerships and Finance. Each sub-team reports to the Chair through regular communication and 6-weekly team meetings.
Our vision
We want to see equal gender representation at triathlon start lines. We want to do our bit in making triathlon more accessible to women and non-binary people with fewer than three years experience in the sport.
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Financial Overview
The full financial statement can be found at the end of this report from page 7.
We successfully obtained a grant from the Royal Bank of Canada’s Community Fund to support our website design and maintenance, and a number of operational costs for the next 3 years.
Key Achievements this year
Triathlon Sponsorship Program
Individuals were sponsored for their first triathlon in 2023, completing sprint to Olympic distance from Lochore, Scotland to Mumbles, Wales, with our largest group completing the London Triathlon
Online community
an inclusive and safe Members in our community chat benefitted from space to connect with other women and non-binary individuals starting out in the sport. Our main social media channel is Instagram, where we promote our initiatives, athlete’s stories and connect with the wider triathlon and sports communities. In 2023, our Instagram attracted almost 1,000 followers. Our main audience is made primarily of women (88%) between 25-44 years old (77%) who live in the UK (86.5%), which aligns with our mission as a charity.
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Training Sessions
Individuals joined a total of 5 training sessions across the year. An in-person session in Regents Park, London understanding and practising the skill of ‘brick sessions’ for triathlon training and 4 virtual sessions were completed on the topic of strength and conditioning for female athletes.
Kit Distribution
Across the year we have been given several generous equipment donations and discounts from race organisers and individuals that have helped a number of our triathletes get started in the sport
Mentoring programme
Mentees were mentored across the year by a group of dedicated, experienced triathletes, totalling approximately 600 hours of contact time. Mentors provided advice, encouragement and imparted knowledge of triathlon to mentees for success in training and their first triathlon experience.
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Educational Initiatives
Webinars were completed and open to our community and over 100 people attended our educational courses learning about strength training, nutrition tips, mobility, hormones and training, and joined a conversation with Khadijah Diggs, accomplished professional USA hijabi triathlete
Public Benefit
When making decisions about how to carry out Women in Tri / Fund Her Tri UK’s purposes (as set out in the introduction) 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.
Challenges Faced
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Consistent success of the organisation throughout 2023, and opportunity for growth to have a greater impact, encouraged the inaugural team to recruit volunteers to help support organisational operations. In 2023, eight volunteers joined the team to support programmes and administrative tasks.
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Feedback from the mentoring programme suggested small groups would be more beneficial for multiple beginner athletes to work with an experienced mentor, to improve networking and co-learning opportunities. Using this feedback we will move to small circle mentoring in 2024.
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Although we endeavour to stretch our funds by partnering with events and securing the best price for race entries, we continue to have a small operating budget. But our organisation continues to thrive beyond the initial sponsorship of race entries and if funds dwindle in 2024, our organisation will sustain beyond our sponsorship programme through our many other offerings.
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Future Plans
We have ambitious plans to grow and strengthen our organisation throughout 2024 to ensure we reach our ambitions and create a sustainable charity for the future.
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Sponsor 100 new triathletes , with more than 50% from ethnic minority groups
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Support 100 beginner triathletes through our mentoring program
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Offer additional support via webinars, in-person coaching sessions, and online training plans
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Grow our community of beginner triathletes and ensure we continue increasing female and non-binary participation in swim, bike, run and triathlon events
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Continue raising awareness and campaigning about the barriers raised by women in the sport and how we can help with removing these barriers
Thank You
Women in Tri / Fund Her Tri UK appreciates the support of our regular donors, volunteers, sponsors and community members who have joined us in striving for gender parity in triathlon and entrusted us with their donations, brand, time and talents throughout 2023 to further this aim.
Bianca Fernandez Charlotte Greenslade Trustee Trustee
Werdah Hussain Trustee
Charlotte Wildblood
Trustee
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Women in Tri
Registered Charity Number: 1203093
Trustees' Report and Financial Statements
for the period to 31 December 2023
Women in Tri
Annual Report and Financial Statements For the period ending 31 December 2023
| Contents Legal and administrative information Report of the Trustees Statement of financial activities Balance sheet Notes to the financial statements |
Page |
|---|---|
| 1 2-3 4 5 6-7 |
Page 1.
Women in Tri
Registered office: 28 Whitmore Road, London, N1 5QA
Administrative details of the charity, the trustees and advisors
The Trustees present their report together with the accounts of the charity for the period ended 31 December 2023.
The following trustees served from 16 May 2023 and up to the date of the approval of the accounts:-
Bianca Fernandez Charlotte Greenslade Werdah Hussain Charlotte Wildblood
Registered Charity Number 1203093
Principal address 49 Marlborough Mansions Cannon Hill London NW6 1JS
Bankers Lloyds Bank plc PO Box 1000 Andover BX1 1LT
Page 4.
Women in Tri
Statement of Financial Activities
For the period ending 31 December 2023
| Note Income from: Donations and legacies Grants Charitable Activities Investment income Total income Expenditure on: Fundraising costs Charitable activities Total expenditure Net movement in funds Total funds carried forward at 31 December 2023 |
2023 Unrestricted Funds 2,085 1,500 1,018 - |
|---|---|
| 4,603 | |
| - 2,042 |
|
| 2,042 | |
| 2,561 | |
| 2,561 £ |
All of the above results are derived from continuing activities.
The statement of financial activities includes all gains and losses recognised in the above periods.
The attached notes form part of these financial statements.
Page 5.
Women in Tri
Balance Sheet
| Note Current assets Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Net assets Charity Funds: Unrestricted funds Total funds Bianca Fernandez TRUSTEE Approved by the board of Trustees on 2024 and signed on its behalf by: |
2023 Unrestricted Funds 2,561 |
|---|---|
| 2,561 - |
|
| 2,561 | |
| 2,561 £ |
|
| 2,561 | |
| 2,561 £ |
|
The attached notes form part of these financial statements.
Page 6.
Notes to the Financial Statements - 31 December 2023
Women in Tri
1 Accounting policies
a) Basis of preparation of financial statements
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) issued on 16 July 2014 (the Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Women in Tri constitutes a public benefit entity as defined by FRS 102.
b) Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
c) Income
Donations and gifts are reflected in the financial statements in the period in which they are received.
Income tax recoverable in respect of gift aid donations is brought into account in the same period as the relevant donation.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects.
d) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure on charitable activities is expenditure incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those costs incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
All expenditure is inclusive of irrecoverable VAT.
Page 7.
Women in Tri
Notes to the Financial Statements - 31 December 2023
1 Accounting policies (continued)
e) Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
f) Cash at bank
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
g) Liabilities
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
h) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
i) Accounting estimates and areas of judgment
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.
2 Trustees
No travel and subsistence expenses were paid to trustees to enable them to attend meetings and generally carry out their governance responsibilities. No trustee received any remuneration or benefits.
3 Analysis of staff costs
No staff were employed by the charity.