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2025-12-31-accounts

TASTE FOR ADVENTURE

UNAUDITED REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

Registered No. 02773567 Charity No. 1027330

Young & Co Business Advisors & Chartered Accountants

St Ethelbert House, Ryelands Street, Hereford, HR4 0LA T. 01432 263282

E. enquiries@youngand.co.uk www. youngand.co.uk

TASTE FOR ADVENTURE

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Index
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Page 1 General Information
2 to 5 Directors' Report
6 Independent Examiner's Report
7 Statement of Financial Activities
8 Balance Sheet
9 to 17 Notes to the Financial Statements
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TASTE FOR ADVENTURE GENERAL INFORMATION 2025

Directors: Mrs K Gillespie
L Davies Esq
Mrs R Hall
Mr T Donaldson
Secretary: Mrs K Gillespie
Charity Correspondent: Mrs K Gillespie
Registered and Administrative Office: Unit 1a Holmer Trading Estate
College Road
Hereford
HR1 1JS
Accountants: Young & Co
Chartered Accountants & Registered Auditors
St Ethelbert House
Ryelands Street
Hereford
HR4 0LA
Bankers: Barclays Bank Plc
1-3 Broad Street
Hereford
HR4 9BH
Investment managers EFG Harris Allday
33 Great Charles Street
Birmingham
B3 3JN

TASTE FOR ADVENTURE

DIRECTORS' REPORT

31 DECEMBER 2025

The directors present their report and the unaudited financial statements for the year ended 31 December 2025. The report combines the trustees annual report and the directors report required by the Companies Act 2006.

OBJECTIVES AND ACTIVITIES

The provision of facilities in the interest of social care for recreation of persons who have need of such facilities by reason of youth, age, infirmity, disablement or poverty to include service and ex-service community, with the object of improving their conditions of life and seeing individuals develop and grow in the area of this sporting activity.

ACHIEVEMENTS AND PERFORMANCE

There was a marked difference in 2025 with young people partaking in the NICAS bouldering award. We ran Level 1, 2 & 3 courses which was carried out over a 6 week period. A total of 13 young people took part in this award scheme in 2025.

Showing their commitment to turn up and take part is encouraging for us and beneficial for the participant for their development, physical fitness, mental health, social and emotional skills.

Young people also gain much needed experience in problem solving as they gain skills in responsibility and resilience within a safe structured setting.

We have also been able to maintain our low prices for people to help with the cost of living.

Charitable groups that benefited during the year included:

The elderly programme has declined since COVID. There are just a few who take part and are able to do so. We have run this activity since 1997 touching so many lives, so it is still worthwhile doing and very rewarding for their mental health.

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DIRECTORS' REPORT

31 DECEMBER 2025

(continued)

FINANCIAL REVIEW

Income from the Boulder Barn facility was £177,919. Unrestricted donations of £0 were received.

There was a net deficit for the year of £75,249 on the General Fund. At 31 December 2025, unrestricted funds showed a balance of £104,844 (2024 - £78,324).

The restricted funds are the 'Building Fund' and the 'Grants Fund'. The Building Fund contains proceeds from the sale of the former freehold property which have been invested to secure the charity's long term future. The investments generated net income of £18,883 and the market value of the portfolio increased by £51,126. The Buildings Fund balance was £660,305 at the year end.

The Grants Fund comes from previous grant funding for the charity's facilities and assets. Grants of £310 were received in the year. The Grants Fund balance was £98,255 at the year end.

The charity has identified the need for maintaining a set level of liquid reserves in order to meet both the expected and the unexpected costs of pursuing its objectives. Due to the sporadic nature of grant funding, the charity considers it necessary to maintain sufficient reserves to enable it to continue to take advantage of new opportunities and to cover its costs during those times when funding is not available. To this end, it aims to provide a level of reserves equal to 6 months of normal expenditure. Both the level of reserves, and the reserves policy, are formally reviewed and ratified by the trustees on an annual basis when the charity's accounts are prepared.

At 31 December 2025, the charity's cash balance stood at £80,215 (2024 - £50,564), and this equates to 5 months of charitable and administrative expenditure.

The trustees are empowered by the charitable company's Memorandum of Association to invest and deal with the monies of the charitable company that are not immediately required in such manner as they shall from time to time determine. They have considered the most appropriate policy for investing such funds and have decided that short-term treasury deposits meet their requirements to generate a secure level of income without sacrificing long-term liquidity. The charity has also previously invested property sale proceeds in a managed portfolio. At the year end the value of these funds were £660,305. It is intended that the income generated from the investment will be used to support future charitable activities.

The trustees have examined the major strategic, business and operational risks which the charity faces. Systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate those risks.

In the circumstances, the directors consider the state of the company's affairs at the date of the balance sheet to be satisfactory.

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DIRECTORS' REPORT

31 DECEMBER 2025

(continued)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Taste for Adventure is a charitable company limited by guarantee. It is a registered charity in England and Wales.

The charitable company was constituted under a Memorandum of Association dated 14 December 1992 (amended on 22 September 1993), which established its objects and powers, and it is governed by its Articles of Association. Under those Articles, the members are elected at the AGM to serve for an initial period of one year, and thereafter on a three year rotational basis.

The directors are trustees for the purpose of charity law. The trustees serve for a maximum of three years, and are appointed by the board of trustees, who meet on a quarterly basis. The company is limited by guarantee. In the event of a winding up, any trustee who held office within one year of the date of winding up guarantees to contribute an amount not exceeding £5 to the assets of the company. The total number of such guarantees at 31 December 2025 was 5.

None of the directors receive remuneration or benefit from their work for the charity.

REFERENCE AND ADMINISTRATIVE DETAILS

The name of the charity is Taste for Adventure. It also uses the name Boulder Barn for its indoor climbing centre. It is a registered as a charity in England and Wales with charity number 1027330. It is registered as a company limited by guarantee in England and Wales with company number 02773567.

The registered office address and principal contact address:

Unit 1a Holmer Trading Estate, College Road, Hereford HR1 1JS

The Directors of the company during the year and at the date of this report were as follows:-

Mrs K Gillespie

L Davies Esq Mrs R Hall Mr T Donaldson Mrs A L Warren (resigned 17 November 2025)

Day to day management of the charity is delegated to Mrs L Stokes.

Details of the charity's professional advisors and bankers are shown on page 1.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime in Part 15 of the Companies Act 2006.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association 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 2019).

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DIRECTORS' REPORT

31 DECEMBER 2025

(continued)

STATEMENT OF DIRECTORS' RESPONSIBILITIES

Law applicable to charitable companies in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charitable company's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website.

In determining how amounts are presented in accordance with the Statement of Financial Activities, and Balance Sheet, the trustees must have regard to the substance of the reported transaction or arrangement, in accordance with generally accepted accounting principles or practice.

On behalf of the board

SIGNED SECURELY

17/05/2026 at 2:48:57 PM UTC

Mrs K Gillespie Secretary

Unit 1a Holmer Trading Estate College Road Hereford HR1 1JS

15 May 2026

TASTE FOR ADVENTURE

YEAR ENDED 31 DECEMBER 2025

INDEPENDENT EXAMINER'S REPORT

TO THE DIRECTORS OF TASTE FOR ADVENTURE

I report to the trustees on my examination of the accounts of Taste For Adventure for the year ended 31 December 2025 which are set out on pages 7 to 17.

Responsibilities and basis of report

As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).

I report in respect of my examination of the Trustee’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 Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed 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:

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.

G M John BSc FCA Young & Co St Ethelbert House Ryelands Street Hereford HR4 0LA

15 May 2026

TASTE FOR ADVENTURE

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2025

Income from:
Donations and legacies
Charitable activities
Investments
Other income
Total income
Expenditure on:
Charitable activities
Other
Total expenditure
Net unrealised gains on investments
Net income/(expenditure)
Transfers between funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Note
3
4
5
6
7
8		 2,820
251,473
(75,249)
179,044
Unrestricted
254,293
-
78,324
£
funds
104,844
101,769
1,125
177,919
-
-		 Restricted
-
funds
51,126
758,560
823,562
36,767
(101,769)
£
33,552
33,552
310
-
18,883
19,193
-		 287,845
2025
863,404
Total
901,886
51,126
(38,482)
£
-
2,820
20,008
285,025
310
198,237
-
177,919		 1,489
2024
Total
-
£
11,449
199,815
212,753
5,375
271,475
276,850
51,298
(12,799)
-
914,685
901,886

TASTE FOR ADVENTURE

BALANCE SHEET

AT 31 DECEMBER 2025

Note 2024
£ £ £ £
Fixed assets
Tangible assets 10 113,347 148,773
Investments 11 660,305 692,065
773,652 840,838
Current assets
Stock 1,910 3,084
Debtors 12 11,248 10,797
Cash at bank and in hand 80,215 50,564
93,373 64,445
Creditors:Amounts falling due
within one year 13 (3,621) (3,397)
Net current assets 89,752 61,048
Total assets less current liabilities 863,404 901,886
Funds
Unrestricted funds 15 99,817 72,324
Designated funds 15 5,027 6,000
Restricted funds 15 758,560 823,562
£ 863,404 £ 901,886

For the year ended 31 December 2025, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board of Directors on 15 May 2026 and signed on its behalf by: SIGNED SECURELY

20/05/2026 at 10:51:47 AM UTC

L Davies Esq - Director

The notes on pages 9 to 17 form part of these financial statements. Registered No. 02773567

TASTE FOR ADVENTURE

NOTES TO THE FINANCIAL STATEMENTS

AT 31 DECEMBER 2025

1. Principal accounting policies

Basis of accounting

The financial statements have been prepared in accordance with 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 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Taste for Adventure meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting note(s).

Income

Incoming resources are included on a receivable basis and included under the headings to which they relate.

Donations, gifts and legacies, together with any associated tax refunds, are accounted for in the period in which the company is entitled to receipt. Gifts in kind for use by the charity are recognised as incoming resources when receivable at a reasonable estimate of their value.

Grants receivable for specific purposes are credited to the Statement of Financial Activities under 'Donations, legacies and similar incoming resources' in the year to which they relate as soon as conditions for receipt have been met. Grants for fixed assets are shown as restricted funds within current assets when receivable; the funds transfer to tangible assets when the related expenditure is incurred. Unspent balances are carried forward to subsequent years within restricted funds. Any voluntary income is shown gross before deduction of fund-raising expenditure.

Activities in furtherance of the charity's objectives' includes income from courses and activities.

Investment income and any associated tax credits are included in the accounts when receivable.

Expenditure

All expenditure is accounted for under the accruals concept in the period to which it relates, and is shown gross of irrecoverable VAT.

Costs are allocated between charitable, support, or management and administration costs depending upon the nature of the expenditure. No method of apportionment is used.

Costs of activities for charitable objectives includes all direct costs attributable to the running of courses and activities.

TASTE FOR ADVENTURE

NOTES TO THE

AT 31 DECEMBER 2022

(continued)

1. Principal accounting policies (continued)

Expenditure (continued)

Management and administration costs are those incurred in connection with the administration of the company and compliance with constitutional and statutory requirements, such as external examination costs, legal expenses and meeting costs.

Support costs are all other costs incurred directly in support of expenditure on the objects of the charity.

Grants and donations payable are recognised at the earlier of the date when a constructive liability arises, or the date of payment.

Depreciation is allocated to expenditure headings on the basis of the use of the assets concerned.

Tangible fixed assets and depreciation

All assets costing more than £100 are capitalised (together with certain smaller items) where the associated benefit is expected to extend beyond one financial year.

All assets are included at cost except for gifts in kind, which are included at an estimation of market value at the time the gift is made.

Depreciation on tangible fixed assets is charged so as to write off their full cost or valuation, less estimated residual values, over their expected useful lives at the following rates:

Motor vehicles - 25% of written down value per annum Tractors and trailers - 10% of cost per annum Equipment - 20% of cost per annum

Funds

Unrestricted income funds represent the funds of the charity that are not subject to any restrictions regarding their use and are available for application on the general purposes of the charity. The financial statements include all transactions for which the charity is responsible in law.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure that meets these criteria is charged to the fund.

Transfers between funds are made when shortfalls are identified on restricted funds, or when historic errors are corrected.

TASTE FOR ADVENTURE

NOTES TO THE FINANCIAL STATEMENTS

AT 31 DECEMBER 2025

(continued)

2. Legal status of the Charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £5. There were 5 such guarantees at 31 December 2025.

3. Donations, legacies and similar
incoming resources
General gifts, grants and donations
4. Activities in furtherance of the charity's objectives
Income from courses and activities
5. Investment income
UK bank deposit interest
Net investment income
Unrestricted
Funds
£
1,125
177,919
-
1,125
-		 £
Restricted
Funds
-
310
18,883
18,883
-		 1,125
2025
£
20,008
310
18,883
177,919		 2024
£
1,489
199,815
1,271
10,178
11,449

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NOTES TO THE FINANCIAL STATEMENTS

AT 31 DECEMBER 2025

(continued)

6. Charitable activities
Costs of activities for charitable objectives
Instructors' charges and wages
Equipment purchases
Rent
Property repairs and running costs
Motor and equipment expenses
Depreciation:
Leasehold property
Equipment
Climbing wall
Motor vehicles
Loss on sale of fixed assets
Food and catering costs
Bank and credit card charges
Sundry expenses
Cleaning
Donations
Stock movement
Support costs
Wages
Telephone, fax and internet costs
Computer running and maintenance costs
Printing, postage, stationery and subscriptio
Training
Insurance
Advertising
Total Charitable Activities for the year
7. Other expenses
Accountancy
Legal and professional fees		 6. Charitable activities
Costs of activities for charitable objectives
Instructors' charges and wages
Equipment purchases
Rent
Property repairs and running costs
Motor and equipment expenses
Depreciation:
Leasehold property
Equipment
Climbing wall
Motor vehicles
Loss on sale of fixed assets
Food and catering costs
Bank and credit card charges
Sundry expenses
Cleaning
Donations
Stock movement
Support costs
Wages
Telephone, fax and internet costs
Computer running and maintenance costs
Printing, postage, stationery and subscriptio
Training
Insurance
Advertising
Total Charitable Activities for the year
7. Other expenses
Accountancy
Legal and professional fees		 1,711
2,532
995
93,255
-
150,004
691
1,174
11,840
2,436
1,014
7,845
1,319
38,400
43,521
36,931
£
Funds
Unrestricted
149
434
101,469
-
2,820
2,820
7
3,794
251,473
989
938
198
1,300		 33,552
-
-
33,552
-
-
10,036
-
-
-
-
£
Funds
Restricted
819
-
-
304
-
-
-
-
-
-
-
-
-
-
22,393
-
-
-		 285,025
101,469
23,084
183,556
11,747
7,845
36,931
38,400
2025
43,521
1,319
£
149
434
304
1,014
-
93,255
2,532
2,820
938
198
1,300
7
3,794
12,659
2,436
1,174
995
989
2,820		 1,891
11,747
5,562
42,887
2024
38,959
35,520
£
405
-
2,652
662
12,894
-
377
(728)
22,440
2,295
177,563
1,410
1,029
758
196
1,302
3,843
85,374
93,912
271,475
2,555
2,820
5,375

TASTE FOR ADVENTURE

NOTES TO THE FINANCIAL STATEMENTS

AT 31 DECEMBER 2025

(continued)

8. Net income/(expenditure)
This is stated after charging:-
Independent Examiner's remuneration
Depreciation
9. Analysis of staff costs and numbers and directors remuneration and expenses
Gross salaries
Employer's national insurance costs
Pension costs
Staff costs		 93,255
37,667
2025
£
91,552
399
1,304
2,820		 36,887
2,820
2024
£
1,218
84,155
-
85,373

No employee (2024 - no employee) received emoluments in excess of £60,000. Pension costs are wholly allocated to unrestricted funds.

The charity directors received no remuneration or any other benefits from employment with the charity, neither were they reimbursed expenses during the year (2024 - £Nil). No charity director received payment for professional or other services supplied to the charity (2024 - £Nil).

Staff numbers

The average number of full-time employees for the year was:

Charitable services
Administration		 2
2
4		 2
2
4

TASTE FOR ADVENTURE

NOTES TO THE FINANCIAL STATEMENTS

AT 31 DECEMBER 2025

(continued)

10. Tangible fixed assets
Cost
At 1 January 2025
Additions
Disposals
At 31 December 2025
Depreciation
At 1 January 2025
Charge for the year
Disposals
At 31 December 2025
Net book amount
At 31 December 2025
At 1 January 2025
11. Investments
Cost
At 1 January 2025
Additions
Disposals
Revaluation
At 31 December 2025
Net book amount
At 31 December 2025
At 1 January 2025		 304
£ 1,216
27,280
-
-
£
£ 912
27,280
26,368
-
vehicles
Motor
26,064		 Fixtures,
270,975
£ 79,644
272,779
25,616
167,956
(437)
193,135
£ 103,019
£
(444)
2,248
equipment
Fittings and		 Leasehold
property
improvements
11,747
-
84,683
117,474
£ 44,538
117,474
£
£ 32,791
-
-
72,936		 £
Total
415,729
(444)
2,248		 £
Total
415,729
(444)
2,248
417,533
(437)
37,667
266,956
304,186
£ 113,347
£ 148,773
£
-
693,430
692,065
(17,899)
(707,291)
Total
660,305
£ 660,305
£ 692,065
-

The investment is in a portfolio managed by Quilter and is invested in a range of shares, bonds and collective investments.

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NOTES TO THE FINANCIAL STATEMENTS

AT 31 DECEMBER 2025

(continued)

12. Debtors
Trade debtors
Prepayments
Creditors: Amounts falling due within one year
Trade creditors
Accruals
Pension contributions unpaid
13.		 3,621
10,841
2025
2,823
326
407
11,248
£
-
472		 £
316
2024
10,481
10,797
-
241
2,822
334
3,397

14. Taxation

The charity is exempt from tax on income and gains falling within the Taxes Act 1988, s. 505 and of the Taxation of Chargeable Gains Act 1992, s. 252 to the extent that these are applied to its charitable objects.

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NOTES TO THE FINANCIAL STATEMENTS

AT 31 DECEMBER 2025

(continued)

15. Movement in funds

Unrestricted income funds
General funds
At 1 January 2025
Incoming resources
Outgoing resources
Transfers
At 31 December 2025		 Total
£
72,324
179,044
(254,293)
102,742
99,817

The general fund represents those funds which are unrestricted and not designated for other purposes.

Designated income funds
At 1 January 2025
Incoming resources
Outgoing resources
Transfers
At 31 December 2025		 6,000
-
-
(973)
5,027

The designated fund was created from £10,000 set aside in 2021 from unrestricted income funds. The designated fund is being used to subsidise the cost of activities for individuals and groups as part of the charitable objects of the Charity.

Restricted income funds
At 1 January 2025
Income
Expenditure
Net unrealised gains on investments
Profit on disposals
Transfers
At 31 December 2025		 (101,769)
18,883
-
(17,899)
69,025
660,305
£
fund
Building
692,065		 -
310
(33,552)
Grants
-
-
£
98,255
131,497
fund		 (101,769)
19,193
823,562
69,025
£
Total
(17,899)
(33,552)
758,560

The 'Building Fund' constitutes resources invested in a steel-framed boulder barn building that the company erected in 2004. This was sold in 2016 and the funds are now invested to generate income towards the operation of the new Boulder Barn property. The 'Grants Fund' constitutes income and expenditure on restricted grants and donations.

TASTE FOR ADVENTURE

NOTES TO THE FINANCIAL STATEMENTS

AT 31 DECEMBER 2025

(continued)

16. Funds

Funds
Restricted funds
Unrestricted funds
Designated funds		 660,305
£
Investments
-
-
660,305		 113,347
Tangible
£
fixed assets
-
98,249
15,098		 93,373
£
Current
assets
5,027
6
88,340		 (3,621)
-
(3,621)
liabilities
£
Current
-		 99,817
Total
5,027
758,560
£
863,404

Young & Co Business Advisors & Chartered Accountants

Young & Co is the trading name of Young & Co (Hereford) Limited Company number 16252337 | Registered in England Registered office: St Ethelbert House, Ryelands Steet, Hereford, HR4 0LA

T. 01432 263282 E. enquiries@youngand.co.uk www. youngand.co.uk

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Registered to carry on audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales