**ADVENTURES OFFSHORE** Charity Number: 1035015 **ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2025** ## **ADVENTURES OFFSHORE** ## **CONTENTS FOR THE YEAR ENDED 31 OCTOBER 2025** ||Page| |---|---| |Legal & Administrative Information|1| |Trustees' report|2 - 7| |Independent Examiner's Report|8| |Statement of Financial Activities|9| |Detailed Profit and Loss Account|10| |Balance Sheet|11| |Notes to the financial statements|12 - 15| ## **ADVENTURES OFFSHORE** ## **LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 OCTOBER 2025** **Charity number** 1035015 **Principle Address** Tolken The Lane West Mersea Colchester Essex CO5 8NT **Lead Volunteer** Adrian Slim - Trustee **Trustees** Mark Gowers - Secretary Paula- Anne Deighton - Trustee Robert Groves - Trustee (resigned 12 June 2025 & reappointed 7 October 2025) Stephen Edwards - Treasurer Mark Rendle - Trustee Andrew Black - Trustee (appointed 18 March 2025) Carol Ramsden - Trustee (appointed 7 October 2025) **Independent Examiner** Community360 Winsley's House High Street Colchester Essex, CO1 1UG **Bankers** Barclays **1** ## **Trustees’ Annual Report for the period** ## **From: 1 November 2024** ## **To: 31 October 2025** ## **Charity name: Adventures Offshore** ## **Charity registration number: 1035015** ## **Objectives and activities** ||**SORP ref.**|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The purpose of Adventures Offshore is to provide
young people an opportunity to obtain and develop
transferrable life skills that will contribute to their
personal development and enable them to thrive in
society.| |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|Use sailing as a medium to enhance young people’s
sense of purpose and self-esteem, not just to teach
them to sail.
Create opportunities for personal development in a safe
but
physically challenging environment and
to
encourage initiative and leadership skills.
Provide the basis for a communal experience on board
ship in which teamwork and co-operation are at least
as important as self-reliance and individual fortitude.
Develop the values of_Integrity_,_Respect_,_Care_and
_Cooperation_amongst our beneficiaries and to
encourage understanding and tolerance of_Beliefs_and
ideas that may not coincide directly with their own.| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public benefit|Para 1.18|Adventures Offshore meets the Charity Commission's
public benefit criteria under both the advancement of
education and the advancement of citizenship or
community development headings.| ## **Achievements and performance** ||**SORP ref.**|| |---|---|---| |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|The charity enabled young beneficiaries to spend 963
nights at sea (2023/24: 749). The beneficiaries learned
the values of teamwork, tolerance and fortitude in a
challenging environment. These are life skills that will
help them integrate and make a greater contribution to
society as a whole. 23 people successfully undertook
expeditions for their DofE Awards (2023/24: 36). Other
beneficiaries have joined our young sea staff training
scheme, which will enable them to provide similar
experiences to future beneficiaries.| ## **Financial review** ||**SORP ref.**|| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|**Summary**
The result for the latest season was a surplus of £5k
(2023/24: £1k deficit). The improvement on last year
was driven by a 29% increase in nights at sea, mostly
due to the prior year’s sailing season being disrupted
by unplanned boat maintenance.
A notable highlight during the year was the successful
delivery of the new Introduction to Maritime Careers
scheme. The is an evolution of our MPATS scheme
that offers young people with no obvious post-
compulsory education route with some training,
employable qualifications and routes into the work
place. This scheme fully supports our charitable
objective.
The trustees continued to protect the charity as a going
concern by minimising discretionary expenditure, but
also ensuring that the boats were well maintained for
the subsequent season.
This prudent approach means that the organisation is
in a good financial position given the current
environment.
**Income**
Total income of £108k was £7k better than last year
(2023/24: £101k), but remained worse than pre-covid
(2018/19: £138k). Excluding the prior year receipt of
£15k of insurance income relating to the water ingress
incidents, the uplift in total income was £22k.
This was mostly attributable to the £23k increase in
cruise fees to £78k (2023/24: £55k) due to both boats
being out of service for unplanned maintenance for a
significant proportion of the prior sailing season.
Grants and donations were broadly static at £27k
(2023/24: £28k). Bursaries and grants were received
from the Association of Sail Training Organisations, the
TK
Foundation,
and
the
Stelios
Philanthropic
Foundation.
**Expenditure**
Equipment, repairs and maintenance were £28k better
than last year due to repairs required by the water
ingress incidents during the prior year. Food, fuel and
cruise expenses increased by £3k due to the increase
in nights at sea. Training courses were £4k higher than
last year as the powerboat training part of the
Introduction
to
Maritime
Careers
course
was
outsourced. Administration costs were £17k worse
than last year due to the prior year release in full of an
unused provision for the potential repayment to HMRC
of input VAT which may have been overclaimed. A
fundraising event was held, for which the £3k costs
were kindly donated by the Stelios Philanthropic
Foundation.
**Balance Sheet**
The balance sheet remains strong. The organisation
wholly owns the two boats and thelong-term leasehold| |||on the office space, whilst continuing to operate without
any loans, mortgages, or other long-term liabilities.
Cash increased by £5k during the year (2023/24: £12k
decrease) in line with the net surplus. The balance of
£129k is considered enough for the organisation to
meet its financial commitments over the next twelve
months.| |---|---|---| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|The trustees aim to ensure that the charity works within
its means and maintains a prudent level of reserves,
sufficient to allow it to withstand unforeseen operational
issues or cash flow disruption.
An updated cash reserves policy was agreed by the
trustees during 2024/25.
**Restricted cash reserves**consist of grants &
donations held on trust for specific purposes (see Note
14 for a breakdown). One category of restricted funds
is the Bursary fund, which allows the organisation to
offer funding assistance to beneficiaries. As most of
the organisation’s bursary assistance is awarded as
single-year deals, these financial commitments can be
reduced in an orderly manner if donations materially
reduce.
**Free cash reserves**exist to allow the organisation to
meet short-term and emergency funding needs. Free
cash reserves are calculated as the total of cash and
liquid investments, less restricted cash reserves. The
charity owns two high value fixed assets (the boats)
and reserves are required to pay for unforeseen
repairs. Single equipment items can cost over £20k to
replace. Free reserves are also required to mitigate the
risk of a significant period of booking cancellations and
lost income. This is most likely to be due to major
unforeseen repairs which take time to carry out, but
could also be due to extreme weather, government
travel advice or an epidemic disease. Noting the
significant risk of simultaneously having to repair the
boats and cancel bookings, the trustees consider it is
appropriate to hold the full cost of winding up the charity
(estimated at £30k) plus 75% of annual cruise fee
income in reserve. The actual reserves of £141k at 31
October 2025 are higher than the lower limit. The
trustees actively monitor the reserves to ensure the
organisation continues as a going concern.| |Amount of reserves held|Para 1.22|The table below compares the organisation’s actual
cash reserves at 31 October 2025 to the range set out
in the reserves policy.
**Free cash**
**reserves**
**£**
**Restricted**
**cash reserves**
**£**
**Lower Limit**
88,173
N/A
**Actual**
**Reserves**
141,265
(2023/24:
119,523)
22,822
(2023/24:
39,353)| |Reasons for holding zero
reserves|Para 1.22|N/A| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|Overall, the trustees consider that the charity has
sufficient available financial resources to support
operations for the coming financial year. As such, the| |||trustees believe that the charity is a going concern and
have prepared the accounts on that basis.| |---|---|---| |Details of fund materially in
deficit|Para 1.24|N/A| ## **Additional information (optional)** ||**SORP ref.**|| |---|---|---| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|**Bursary fund**
Circa 160% of the bursary fund was invested in the
COIF Charities Ethical Investment fund, managed by
CCLA Investment Management, at 31 October 2025.
This is a diversified fund, investing circa 50% in
overseas equities, 20% in U.K. equities, and the
remainder distributed equally across other asset
classes. The trustees do not anticipate calls on this
fund in the near term.
**Other reserves**
Reserves other than the Bursary fund are held as cash
in accounts with minimal notice periods for withdrawal.
Although the returns available in such accounts are
poor, the trustees have assessed the risks we face and
believe that it is necessary to be able to make
immediate calls on the whole reserve fund.| |A description of the principal
risks facing the charity|Para 1.46|The trustees have identified the major risks to which
they believe the organisation is exposed; these have
been reviewed and systems have been established to
mitigate against them. The main areas of concern that
have been identified are:
Accident at sea: Sea staff are fully qualified, there are
regular training days and a comprehensive set of
manuals and processes that are continuously reviewed
and monitored to manage safety at sea. The
organisation has a marine accident insurance policy
with Navigators & General.
Significant vessel breakdown: There is an ongoing
regime of continuous maintenance refit inspections and
planned replacements and stock of common parts.
Crew shortage: The charity is dependent upon the
goodwill of unpaid volunteers. There is an ongoing
programme of training young people (Young Sea Staff
Scheme). Older volunteers are continually recruited by
word of mouth.
Interruption to voyage income: Example causes include
vessel
breakdown,
crew
shortage,
statutory
suspension due to pandemic, etc. Active financial
management and the reserves policy mitigate this risk
for a substantial period.
Reduction in grant and bursary income: The reserves
policy enables temporary respite to a short-term dip.
The organisation works closely with existing and
potential supporters to try to align our activities with
their specific and targeted aims, where they fit with our
own charitable objectives.| |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|Principal sources of income in a normal year are
voyage fees and grants and bursaries from external
bodies. See the financial review above for the specific
2024/25 year.| |---|---|---| ## **Structure, governance and management** |**Description of charity’s**
**trusts:**|**SORP ref.**|| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|The governing document is The Scout Association
Royal Charter of 1914 as amended in 1953, 1984 and
1999.| |How is the charity
constituted?
(e.g. unincorporated
association, CIO)|Para 1.25|Adventures Offshore is an unincorporated association
registered as an educational charity (No. 1035015).| |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|The trustees are appointed in accordance with the
Policy, Organisation and Rules of The Scout
Association.| ## **Additional information (optional)** ||**SORP ref.**|| |---|---|---| |Policies and procedures
adopted for the induction and
training of trustees|Para 1.51|Trustees complete 'Essential Information for Executive
Committee' training within the first 5 months of being
appointed.| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|The organisational structure consists of a board of
trustees, primarily responsible for governance, that has
delegated limited powers necessary for the day-to-day
activity to subject matter experts via Operations,
Finance and TSE (Training, Safety & Ethics)
committees.| |Relationship with any related
parties|Para 1.51|Although it has only adult members, the organisation is
recognised as a “district” as part of “Essex County”
within The Scout Association.| ## **Reference and administrative details** |Charity name|Adventures Offshore| |---|---| |Other name the charity uses|Offshore| |Registered charity number|1035015| |Charity’s principal address|Adventures Offshore
Tolken, The Lane
West Mersea
Colchester
Essex CO5 8NT| ## **Names of the trustees who manage the charity** |**Executive Trustee**
**name**|**Office (if any)**|**Role in The Scout**
**Association**|**Name of person or**
**body entitled to**
**appoint trustee (if**
**any)**| |---|---|---|---| |Adrian Slim|Lead Volunteer
(Nominated)|District Lead Volunteer|County Lead Volunteer| |Andrew Black1|Trustee (Co-opted)|N/A|AO Membership| |Carol Ramsden2|Trustee (Co-opted)|N/A|AO Membership| |Mark Gowers|Secretary (Elected)|N/A|AO Membership| |Mark Rendle|Secretary (Elected)|N/A|AO Membership| |Paula-Anne Deighton|Trustee (Nominated)|Deputy Lead Volunteer|District Lead Volunteer| |Robert Groves3|Trustee (Co-opted)|N/A|AO Membership| |Stephen Edwards|Treasurer (Elected)|N/A|AO Membership| Notes: 1. Andrew Black was appointed as a trustee on 18 March 2025. 2. Carol Ramdsen was appointed as a trustee on 7 October 2025. 3. Robert Groves resigned on 12 June 2025 and was reappointed as a trustee on 7 October 2025. ## **Names of trustees holding title to asset belonging to the charity** |**Asset**|**Custodian Trustee**
**name**|**Start date**|**End date**| |---|---|---|---| |Offshore Scout|Adrian Randall &
Steven Roys|31 July 2022|N/A| |Ocean Scout|Adrian Randall &
Steven Roys|3 September 2022|N/A| ## **Funds held as custodian trustees on behalf of others** Description of the assets held None in this capacity ## **Declarations** The trustees declare that they have approved the trustees’ report above. **Signed on behalf of the charity’s trustees** |**Full name**|**Office**|**Signature**|**Date**| |---|---|---|---| |Adrian Slim|Scout District Lead
Volunteer||13/03/2026| |Stephen Edwards|Treasurer||13/03/2026| ## **ADVENTURES OFFSHORE** ## **LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 OCTOBER 2025** I report on the accounts of Adventures Offshore for the year ended 31 October 2025 which are set out on pages 9 to 15.. ## **Respective responsibilities of trustees and examiner** The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 (The Act) but that an independent examination is needed. It is my responsibility to: - Examine the accounts under section 145 of the Charities Act, - To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act, and - To state whether particular matters have come to my attention. ## **Basis of independent examiner’s Statement** My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts. ## **Independent examiner’s statement** In the course of my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination. I 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. David Courtier FMAAT AATQB for and on behalf of: Community360 Winsley’s House, High Street, Colchester, Essex Date 03/06/2026 **8** ## **ADVENTURES OFFSHORE** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2025** |**Notes**
**Incoming resources**
Donations and legacies
**2**
Investment income
**3**
Incoming resources from charitable activities
**4**
Other income
**Total incoming resources**
**Resources expended**
Cost of generating funds
Charitable activities
Sail training scheme expenditure
**5**
**Total resources expended**
**Net (outgoing)/incoming resources**
Gain on investments
**7**
**Net movement in funds**
Fund balances at 1 November 2024
Fund balances at 31 October 2025|**Unrestricted**
**funds**
**£**
11,731
1,499
79,297
-|**Restricted**
**funds**
**£**
15,417
-
-
-|**2025**
**Total**
**£**
27,149
1,499
79,297
-|**2024**
**Total**
**£**
28,157
1,675
56,979
14,641| |---|---|---|---|---| ||**92,528**|**15,417**|**107,945**|**101,452**| ||3,228
71,523|-
28,711|3,228
100,234|-
107,151| ||**74,751**|**28,711**|**103,462**|**107,151**| ||17,777
-|(13,294)
449|4,483
449|(5,699)
4,317| ||17,777|(12,844)|4,932|(1,383)| ||206,894|39,353|246,247|247,630| ||**224,671**|**26,509**|**251,180**|**246,247**| The notes on pages 12-15 form an integral part of these financial statements. **9** ## **ADVENTURES OFFSHORE** ## **DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2025** |**Income**
Donations and gifts
Cruise fees
Sundry sales and courses
Annual scheme dinner receipts
Interest receivable
Other income
**Expenditure**
Salaries
Equipment, sails, repairs and maintenance
Food, fuel and cruise expenses
Training courses
Travel expenses
Insurance - general
Rates, light and heat
Administration
Annual scheme dinner expenditure
Fundraising
**Net operational surplus before depreciation**
Depreciation
Gain on investments
**Surplus/(deficit) for the year after depreciation**|**£**
**£**
**£**
**£**
27,149
28,157
77,564
54,731
330
425
1,403
1,823
1,499
1,675
-
14,641
**107,945**
**101,452**
22,077
24,023
17,207
45,354
21,375
18,568
3,845
-
753
2,326
7,393
7,081
653
431
8,576
(8,147)
2,055
1,216
3,228
-
,
**87,162**
**90,850**
(87,162)
(90,850)
20,783
10,602
(16,299)
(16,299)
449
4,317
**4,933**
**(1,383)**
**2025**
**2024**|**£**
**£**
**£**
**£**
27,149
28,157
77,564
54,731
330
425
1,403
1,823
1,499
1,675
-
14,641
**107,945**
**101,452**
22,077
24,023
17,207
45,354
21,375
18,568
3,845
-
753
2,326
7,393
7,081
653
431
8,576
(8,147)
2,055
1,216
3,228
-
,
**87,162**
**90,850**
(87,162)
(90,850)
20,783
10,602
(16,299)
(16,299)
449
4,317
**4,933**
**(1,383)**
**2025**
**2024**| |---|---|---| |||**101,452**
(90,850)| ||**87,162**|| |||10,602
(16,299)
4,317| |||**(1,383)**| The notes on pages 12-15 form an integral part of these financial statements. **10** ## **ADVENTURES OFFSHORE** ## **BALANCE SHEET AS AT 31 OCTOBER 2025** |**Notes**
**Fixed assets**
Tangible assets
**11**
**Current assets**
Debtors
**12**
Investments
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**13**
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**Funds**
Restricted funds
**14**
Unrestricted funds|**£**
**£**
62,965
30,876
35,064
129,023
194,963
(6,748)
188,215
**251,180**
**251,180**
26,509
224,671
**251,180**
**2025**|**£**
**£**
79,264
24,284
34,614
124,262
183,160
(16,177)
166,983
**246,247**
**246,247**
39,353
206,894
**246,247**
**2024**|**£**
**£**
79,264
24,284
34,614
124,262
183,160
(16,177)
166,983
**246,247**
**246,247**
39,353
206,894
**246,247**
**2024**| |---|---|---|---| ||||| ||||**246,247**| ||||**246,247**| ||||39,353
206,894| ||||**246,247**| The accounts were approved by the trustees on |Signed
Signed|Date
A Slim - Scout District Lead Volunteer
Date
S Edwards - Treasurer|01/06/2026| |---|---|---| |||01/06/2026| |||| The notes on pages 12 - 15 form an integral part of these financial statements. **11** ## **ADVENTURES OFFSHORE** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025** ## **1 Accounting policies** ## **1.1 Basis of accounting** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement on Recommended Practise 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. The financial statements do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under Financial Reporting Standard 1 "Cash flow statements". ## **1.2 Incoming resources** Donations, legacies and other forms of voluntary income are recognised as incoming resources when receivable, except insofar as they are incapable of financial measurement. Voluntary income also includes income tax recoverable. The charity receives the benefit of work carried out by volunteers, and receives the use of facilities and equipment without charge. No value is placed on these items. Revenue grants are credited to the income and expenditure account as received unless related to a specific purpose, when they are placed in restricted funds until used. ## **1.3 Resources expended** Expenditure is included in the accounts on an accruals basis. VAT is recoverable by the charity and is included with the expenditure to which it relates. Support costs which could not be attributed directly to activities are apportioned equally between activities. ## **1.4 Tangible fixed assets and depreciation** Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows: Freehold land is not depreciated Freehold buildings 2% straight line Yachts 3% straight line Office equipment/Other equipment 20% straight line ## **1.5 Taxation** The organisation is a registered charity and, as such is exempt from corporation tax. ## **1.6 Investments** Realised gains and losses are taken to the Income and Expenditure Account. Investment income has been taken in to account on the basis of the due date of payment. Short term investments shown within current assets are invested in COIF Funds Accumulation Units and are included at market value at the year end. The difference from the value at the start of the period is reflected in unrealised profit and loss during the year. **12** ## **ADVENTURES OFFSHORE** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025** ## **1.7 Foreign currency translation** Transactions denominated in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All differences are included in net outgoing resources. ## **1.8 Fund structure** Unrestricted income funds are general funds that are available for use at the Trustee's discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. |**2**
**Donations and legacies**
**Unrestricted **
**Funds**
**£**
Donations and gifts
11,731
**11,731**
**3**
**Investment income**
**Unrestricted **
**Funds**
**£**
Interest receivable
1,499
**1,499**
**4**
**Incoming resources from charitable activities**
**Unrestricted **
**Funds**
**£**
Cruise fees
77,564
Sundry sales and courses
330
Annual scheme dinner receipts
1,403
**79,297**
**5**
**Total resources expended**
**Staff**
**Depreciation**
**Other**
**costs**
**costs**
**£**
**£**
**£**
**Support costs**
Sail training scheme -
expenditure
Activities undertaken directly
22,077
16,299
33,147
Grant funding of activities
-
-
-
**22,077**
**16,299**
**33,147**
**6**
**Grant funding**
Sails fund
Introduction to Maritime Careers (IMC)
MPaTS
Sailing instrument funding
Bursary funding|**Restricted**
**Funds**
**£**
15,417|**2025**
**Total**
**£**
27,149
**27,149**
**2025**
**Total**
**£**
1,499
**1,499**
**2025**
**Total**
**£**
77,564
330
1,403
**79,297**
**2025**
**Total**
**£**
71,523
28,711
**100,234**
**2025**
**£**
4,422
5,718
-
-
2,049
**12,189**|**2024**
**Total**
**£**
28,157| |---|---|---|---| ||**15,417**||**28,157**| ||**Restricted**
**Funds**
**£**
-||**2024**
**Total**
**£**
1,675| ||**-**||**1,675**| ||**Restricted**
**Funds**
**£**
-
-
-||**2024**
**Total**
**£**
54,731
425
1,823| ||**-**||**56,979**| ||**Grant**
**Funding**
**£**
-
28,711||**2024**
**Total**
**£**
90,804
16,347| ||**28,711**||**107,151**| ||||**2024**
**£**
-
-
9,718
7,692
4,277| ||||**21,688**| **13** ## **ADVENTURES OFFSHORE** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025** ## **7 Gain on investments** COIF Investment fund - bursary |**2025**
**£**
449
**449**|**2024**
**£**
4,317| |---|---| ||**4,317**| ## **8 Trustees** None of the trustees received any remuneration during the year, but some of the trustees were reimbursed a total of £1,508.83 for travelling, office and cruise expenses (2024 £2,373). ## **9 Employees** ## **Number of employees** The average monthly number of employees during the year was: |Full time employees
Part time employees
Total
**Employment costs**
Wages and salaries|**2025**
**Number**
-
2
2
**2025**
**£**
22,077|**2024**
**Number**
-
2| |---|---|---| |||2
**2024**
**£**
24,023| There were no employees whose annual remuneration was £60,000 or more. ## **10 Key management personnel** During the year, no remuneration was paid to key management personnel (2024: £Nil). The remuneration of key management personnel is decided upon and authorised by the trustees. |**11 Tangible fixed assets**
**Cost**
**At 1 November 2024**
Additions
Disposal
**At 31 October 2025**
**Depreciation**
At 1 November 2024
Charge for the year
Disposal
**At 31 October 2025**
**Net book value**
**At 31 October 2025**
At 31 October 2024|**Land and**
**buildings**
**£**
50,000
-
-
**50,000**
28,833
1,000
-
**29,833**
**20,167**
21,167|**Yachts**
**£**
478,624
-
-|**Office**
**equipment**
**£**
1,078
-
-
**1,078**
855
111
-
**966**
**112**
223|**Other**
**equipment**
**£**
11,265
-
-
**11,265**
7,947
830
-
**8,777**
**2,488**
3,318|**Total**
**£**
540,967
-
-| |---|---|---|---|---|---| |||**478,624**|||**540,967**| |||424,069
14,359
-|||461,703
16,299
-| |||**438,428**|||**478,002**| ||||||| |||**40,196**|||**62,965**| ||||||| |||54,555|||79,264| The building 'Tolken' was last valued by the trustees as at 1 January 1996 at £50,000. **14** ## **ADVENTURES OFFSHORE** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025** |**12 Debtors**
Other debtors
Prepayments and accrued income
**13 Creditors: amounts falling due within one year**
Other creditors
Deferred income
Accruals|**2025**
**£**
28,598
2,278|**2024**
**£**
20,992
3,292| |---|---|---| ||**30,876**|**24,284**| ||**2025**
**£**
54
5,650
1,044|**2024**
**£**
61
12,380
3,736| ||**6,748**|**16,177**| ## **14 Restricted Funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes. |Bursary fund
Introduction to Maritime Careers
Bursary fund total
Sails fund
Fundraising
Young vol. training
Engine replacement fund
Sailing instrument fund|**Balance at 1**
**November**
**2024**
**£**
28,672
5,719|**Income**
**ExpenditureGains/losses Balance at**
**on**
**31 October**
**investments**
**2025**
**£**
**£**
**£**
**£**
2,049
(9,624)
449
21,547
5,718
(11,437)
-
-
**7,767**
**(21,060)**
**449**
**21,547**
4,422
(4,422)
-
-
3,228
(3,228)
-
-
-
-
-
749
-
-
-
1,500
-
-
-
2,714
**15,417**
**(28,711)**
**449**
**26,509**
**Movements in funds**|**Income**
**ExpenditureGains/losses Balance at**
**on**
**31 October**
**investments**
**2025**
**£**
**£**
**£**
**£**
2,049
(9,624)
449
21,547
5,718
(11,437)
-
-
**7,767**
**(21,060)**
**449**
**21,547**
4,422
(4,422)
-
-
3,228
(3,228)
-
-
-
-
-
749
-
-
-
1,500
-
-
-
2,714
**15,417**
**(28,711)**
**449**
**26,509**
**Movements in funds**|**Income**
**ExpenditureGains/losses Balance at**
**on**
**31 October**
**investments**
**2025**
**£**
**£**
**£**
**£**
2,049
(9,624)
449
21,547
5,718
(11,437)
-
-
**7,767**
**(21,060)**
**449**
**21,547**
4,422
(4,422)
-
-
3,228
(3,228)
-
-
-
-
-
749
-
-
-
1,500
-
-
-
2,714
**15,417**
**(28,711)**
**449**
**26,509**
**Movements in funds**|**Income**
**ExpenditureGains/losses Balance at**
**on**
**31 October**
**investments**
**2025**
**£**
**£**
**£**
**£**
2,049
(9,624)
449
21,547
5,718
(11,437)
-
-
**7,767**
**(21,060)**
**449**
**21,547**
4,422
(4,422)
-
-
3,228
(3,228)
-
-
-
-
-
749
-
-
-
1,500
-
-
-
2,714
**15,417**
**(28,711)**
**449**
**26,509**
**Movements in funds**| |---|---|---|---|---|---| ||**34,391**
**-**
**-**
749
1,500
2,714|**7,767**
4,422
3,228
-
-
-|**(21,060)**
(4,422)
(3,228)
-
-
-|**449**
-
-
-
-
-|**21,547**
-
-
749
1,500
2,714| ||**39,353**|**15,417**|**(28,711)**|**449**|**26,509**| ## **15 Related parties** During the year, there were no related parties. ## **16 Going concern** The charity is operating on a going concern basis. **15**