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2025-10-31-accounts

REGISTERED COMPANY NUMBER: 03158023 (England and Wales) REGISTERED CHARITY NUMBER: 1057222

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

THE COBNOR ACTIVITIES CENTRE TRUST

Lewis Brownlee (Chichester) Limited Chartered Accountants Appledram Barns Birdham Road Chichester West Sussex PO20 7EQ

THE COBNOR ACTIVITIES CENTRE TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Cash Flow Statement 10
Notes to the Financial Statements 11 to 21
Detailed Statement of Financial Activities 22 to 23

THE COBNOR ACTIVITIES CENTRE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025

The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2025.

OBJECTIVES AND ACTIVITIES

Objectives and activities

The objects for which the Charity is established are to help and educate young people in West Sussex and neighbouring counties to reach their full potential through the provision of outdoor and residential experiences. The Charity may, at the Cobnor Activities Centre, Chidham or elsewhere, provide or assist in the provision of high quality educational, developmental and training programmes, including training in safety, environmental studies (e.g., sustainability) and in the use of the environment.

Our Vision

To give young people the opportunity to participate in safe, enjoyable outdoor, residential and environmental activities, developing, enabling and empowering them to shape their character.

Our Purpose

To deliver high quality activities and experiences which provide positive learning and educational development outcomes, especially for young people.

Our Values

Responsible:

Diverse:

Fun:

Our Culture

Respectful:

Integrity:

Enabling & supportive:

Page 1

THE COBNOR ACTIVITIES CENTRE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025

OBJECTIVES AND ACTIVITIES

Our Over Arching Aims

Strategic Objectives 2024 - 2027

  1. Financial: Generate additional business and appropriate cost controls to achieve sustainable, surplus revenues by the end 2026.

  2. Customer: Increase growth in untapped markets and attract a wider educational & community client base and seek to improve client retention over the next 3 years.

  3. Fundraising: create fund-raising resources and action plan, to generate £3M external funds for asset improvement and revenue growth over next 3 years.

  4. Internal business processes: continue to implement key management information systems to improve regular business tracking & quarterly review.

  5. People - learning & growth: Improve HR processes and staff development programmes to enhance internal culture and increase attractiveness as an employer.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The year ending 31 October 2025 has been proven to be a good year for the Trust. The Trust exceeded its first objective set out last year to generate surplus funds by the end of 2026; Net Income exceeded Expenditure by £45,888 (2024: (£156,613)), a turnaround of £202,501 which is a significant achievement after 3 years of continuous deficits. The improvement is as a result of course income improving by 34% at £734,769 (2024: £546,972) driven by improved student numbers and the necessary price increases introduced to recover the cost increases incurred by the Trust since COVID 19 pandemic. In addition, our funded programmes from donations grew by nearly 346% to £80,814; this excludes the capital specific funding of £58,742 for the replacement and upgrading of our Climbing wall. The total donations of £139,556 (2024: £23,173) is a result of a focused approach to fundraising started some 18 months ago. Staff costs increased by 10.9% to £389,139 over last year as a result of increases in the Statutory Minimum Wages amounts and thresholds for our young staff. Overall charitable activities costs after the Insurance claim in 2024 of £108,283 were contained below a 9.5% increase in expenditure of £793,320 (2024: £724,441); this increase is well below the growth in our course income.

The improvement in the financial performance has been reflected in the numbers of students we have hosted. The Trust provided courses and education to 3,787 (2024: 3,521) school children. Our the Young Helms and other funded programmes for children rose nearly threefold to 617 (2024: 200) school children. We saw a reduction to 1,786 (2024: 1,846) people on our product delivery programmes as we focused on our schools business in 2025.

Page 2

THE COBNOR ACTIVITIES CENTRE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025

Another major success was the first major fundraising activity by the Trust since 2010 - the raising of £58,742 to finance the new all purpose bespoke climbing wall which allows up to 15 roped climbers at one time to use the facility and up to 48 students to participate in the climbing activity compared to just 12 previously. This fundraising project was led by one of our Trustees and volunteers, Jeremy Drummond, and the project was greatly aided by the donations provided by The John And Hilary Pritchard Trust, see note 21. The wall was formally opened in September 2026 by the Lord Lieutenant of West Sussex, Lady Emma Barnard. The Trust hopes that the Trust will now benefit from an additional activity stream in the traditionally quiet Winter seasons.

Total Capital expenditure was £117,286, net £58,544, after the associated funding programme mentioned above. This includes an additional Rib Powerboat courses purchased on deferred payment terms.

The Trust's Balance sheet has improved with the improvement in profitability such that cash at the year end was £69,358 an improvement on the historic low of £14,081 of last year. The Trust has had less need to advance its invoicing process in order to maintain its liquidity and as a result, Trade Debtors fell to £15,381 from last year's £292,736 and there has been a corresponding reduction in Deferred income as shown in note 17. Nonetheless the Trust's policy on Reserves of holding enough cash for three to six months costs without any income and to provide funds for future capital programmes is still not as successful as the Trustees would like.

The Trust is very proud that it continues to make a positive difference to so many children and young people.

Volunteers and staff

The Trust continues to benefit hugely from the efforts of its staff backed by our valuable volunteers who not only assist on activity delivery but mentor some of our less experienced staff. The stability in its leadership arising from the appointment of Tom Collins as Head of Centre has also proved to be beneficial.

The Trustees continue to recognise the unquantified value provided by the volunteers who support the activities of the Centre in diverse ways, helping repair equipment and boats, providing safety cover, instruction and general support. In 2025, 775 (2024: 962) hours of help was provided by these 7 (2024: 8) volunteers; we continue to be very grateful for their contribution to both the education of our students and our staff.

The Trustees express their thanks to all the paid staff for their continued dedication and flexibility.

Young Helms project

CACT's targeted programme for children and young adults between the ages of 8 and 25 in receipt of special means from local schools continues to prosper. This year we have worked with 12 separate schools/organisations helping young people to develop their confidence, determination and teamwork through keelboat sailing, a major achievement for CACT and its funders. The number of participating students is noted earlier. See more information about our funded programs on note 21.

Environment

The Trust takes its responsibilities to the environment and the education of its participating students to the environment seriously. The Trust works with all harbour users and in particular, Chichester Harbour Conservancy, to ensure its activities have as little impact on the harbour as possible and helps lead conservation initiatives. The Trust has recently secured funding to provide a Waterless Toilet facility, the first in the Conservancy area. The Trust has a Bronze Award from the Green Blue pathway by the RYA and now has a dedicated environmental education suite funded by the Friends of Chichester Harbour for our students.

Reserves policy

The Trust's unrestricted reserves are regularly reviewed by the Trustees at least on a quarterly basis with the aim that it maintains at least three to six months of liquid funds to fund committed operating expenditure against unforeseen circumstances affecting The Trust's Income. Achieving this aim continues to be a challenge.

Small company provisions

This report has been prepared in accordance with the small company's regime under the Companies Act 2006.

Page 3

THE COBNOR ACTIVITIES CENTRE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Structure, Governance and Management Governing Document

The Trust was established in 1996 following a decision by West Sussex County Council to no longer to fully fund the activities of the Trust. The Cobnor Activity Centre Trust is a registered charity governed by its Memorandum and Articles and was incorporated in 1996 as amended by special resolutions registered at Companies House. The Trust is a company limited by guarantee and has no share capital. The legal members of the charitable company are the Trustees and the liability of each member in the event of a winding-up is limited to £1.

Recruitment and appointment of new trustees

The Trust acknowledges the need to identify and regularly review the appropriate skill sets required, among its Board of Trustees, for effective governance. The Board of Trustees has the power to appoint any other person as they see fit to be a member of the Board. Potential future members of the Board of Trustees are reviewed for the skills that they have to offer the Trust and new members of the Board will be inducted through one-to-one sessions with the Chair of the Board and other Trustees.

James Lavery has resigned formally as his continuing personal commitments precluded him from attending most Trustee meetings, but he continues to be available to the trustee for IT and related advisory matters.

The Trustees are aware that succession planning is important and the Trust is actively seeking to recruit new Trustees with complementary skills and to allow some of the current Trustees with over 8 years' service to retire.

Executive team, key personnel pay & remuneration policy

The Trustees are responsible for the appointment of the Trust's key personnel, currently the Head of Centre as noted above, who reports to the Board of Trustees. The remuneration was determined at appointment following an open and competitive recruitment processes. Remuneration of key personnel is reviewed constantly by the Trustees and recommendations for adjustments are made by the Board of Trustees.

Public benefit

The Trust reviews its goals, objectives and activities annually to ensure that these are in line with its charitable aims and objectives and refers to the Charity Commission's guidance on public benefit when reviewing its own goals and activities. The Trustees ensure that all current and future activities are consistent with the primary goals of the Trust and are of benefit to the public.

Risk and incident reporting

The Trustees consider the Trust to have normal exposure to price risk, credit risk, liquidity risk and cash flow risk.

All activities and operational risk management policies and systems are reviewed by the Board of Trustees and if necessary by the Trust's legal advisors. All reporting and operational risk management systems used at the Trust have been developed in line with industry standards and are accredited by the national governing bodies such as the Royal Yachting Association and the various Authorities for the other activities carried out by the Trust. Appropriate levels of insurance for all activities at the Trust are maintained and reviewed annually including Trustee Indemnity Insurance.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03158023 (England and Wales)

Registered Charity number

1057222

Registered office

Cobnor Point Chidham Chichester West Sussex PO18 8TE

Page 4

THE COBNOR ACTIVITIES CENTRE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025

Trustees

M Blackwell M P Camps (resigned 16/1/2025) R I Mackenzie Ms L Rushall M D Wright J Drummond P Tyler J G Lavery (resigned 31/12/2025) P J M Binning (appointed 18/12/2024)

Independent Examiner

Sam Ede BFP FCA FCCA Lewis Brownlee (Chichester) Limited Chartered Accountants Appledram Barns Birdham Road Chichester West Sussex PO20 7EQ

Legal advisors Sherrards 4 Albourne Court Henfield Road Albourne West Sussex BN6 9FF

Bankers

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ HSBC UK Chichester 94 East Street Chichester West Sussex PO19 1HD

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.................................................................... M D Wright - Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE COBNOR ACTIVITIES CENTRE TRUST

Independent examiner's report to the trustees of The Cobnor Activities Centre Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Sam Ede BFP FCA FCCA

Lewis Brownlee (Chichester) Limited Chartered Accountants Appledram Barns Birdham Road Chichester West Sussex PO20 7EQ

Date: .............................................

Page 6

THE COBNOR ACTIVITIES CENTRE TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2025

Unrestricted
Restricted
fund
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
4
1,297
138,259
Charitable activities
6
Charitable activities
734,769
-
Investment income
5
193
-
Other income
7
2,353
-
Total
738,612
138,259
EXPENDITURE ON
Charitable activities
8
Charitable activities
727,750
65,570
Support costs
37,663
-
Total
765,413
65,570
NET INCOME/(EXPENDITURE)
(26,801)
72,689
Transfers between funds
21
57,787
(57,787)
Net movement in funds
30,986
14,902
RECONCILIATION OF FUNDS
Total funds brought forward
1,206,069
6,604
TOTAL FUNDS CARRIED FORWARD
1,237,055
21,506		 2025
Total
funds
£
139,556
734,769
193
2,353
876,871
793,320
37,663
830,983
45,888
-
45,888
1,212,673
1,258,561		 2024
Total
funds
£
23,383
546,972
6,243
120,485
697,083
853,696
-
853,696
(156,613)
-
(156,613)
1,369,286
1,212,673

The notes form part of these financial statements

Page 7

THE COBNOR ACTIVITIES CENTRE TRUST

BALANCE SHEET 31 OCTOBER 2025

Unrestricted
Restricted
fund
funds
Notes
£
£
FIXED ASSETS
Tangible assets
14
1,334,147
4,832
CURRENT ASSETS
Stocks
15
1,942
-
Debtors
16
15,381
-
Prepayments and accrued income
18,467
2,470
Cash at bank and in hand
45,586
23,772
81,376
26,242
CREDITORS
Amounts falling due within one year
17
(155,518)
(9,568)
NET CURRENT ASSETS
(74,142)
16,674
TOTAL ASSETS LESS CURRENT LIABILITIES
1,260,005
21,506
CREDITORS
Amounts falling due after more than one year
18
(22,950)
-
NET ASSETS
1,237,055
21,506
FUNDS
21
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2025
Total
funds
£
1,338,979
1,942
15,381
20,937
69,358
107,618
(165,086)
(57,468)
1,281,511
(22,950)
1,258,561
1,237,055
21,506
1,258,561		 2024
Total
funds
£
1,280,553
769
295,259
31,498
14,081
341,607
(380,400)
(38,793)
1,241,760
(29,087)
1,212,673
1,206,069
6,604
1,212,673

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 8

THE COBNOR ACTIVITIES CENTRE TRUST

BALANCE SHEET - continued 31 OCTOBER 2025

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. M D Wright - Trustee

The notes form part of these financial statements

Page 9

THE COBNOR ACTIVITIES CENTRE TRUST

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 OCTOBER 2025

Notes
Cash flows from operating activities
Cash generated from operations
23
Interest paid
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
176,980
(875)
176,105
(117,286)
1,600
193
(115,493)
(5,335)
(5,335)
55,277
14,081
69,358		 2024
£
(104,726)
(868)
(105,594)
(111,704)
-
6,243
(105,461)
(5,343)
(5,343)
(216,398)
230,479
14,081

The notes form part of these financial statements

Page 10

THE COBNOR ACTIVITIES CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

1. STATUTORY INFORMATION

The charity is an incorporated charity, registered with the Charity Commissioners for England and Wales (1057222) and a company incorporated in England & Wales (03518023). The charity is controlled by its governing document, a deed of trust, and constitutes a company, limited by guarantee by its Memorandum and Articles of Association, as defined by the Companies Act 2006. The registered office is: Cobnor Point, Chidham, Chichester, West Sussex, PO18 8TE.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) and the Companies Act 2006. The financial statements have been prepared under the historical cost conversion.

The financial statements have been prepared in Sterling. This is the charity's functional and presentation currency.

Monetary amounts in these financial statements are rounded to the nearest £. There are a few rounded differences which cannot be eliminated.

Going concern

The trustees have considered the financial position of the charity, including its cash flow requirements, and are confident that it will be able to continue with its activities for the foreseeable future. The trustees have considered a period of at least a year after the date that these financial statements will be approved. The trustees have concluded that it is appropriate to prepare these accounts on a going concern basis.

Incoming resources

All incoming resources are recognised in the Statement of Financial Activities (SOFA) once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Donations receivable

Donations are recognised in the SOFA when conditions for receipt have been complied with.

Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable activities costs

Charitable activities costs represent expenditure incurred directly for the delivery of the charity’s programmes of activity, fundraising events and support costs in operating the charity.

Governance costs

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.

Support costs

Support costs represent indirect charitable expenditure which is necessary in order to carry out the primary purposes of the charity and comprises provision of office and financial services.

continued...

Page 11

THE COBNOR ACTIVITIES CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025

2. ACCOUNTING POLICIES - continued

Governance costs

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.

Support costs

Support costs represent indirect charitable expenditure which is necessary in order to carry out the primary purposes of the charity and comprises provision of office and financial services.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold land and buildings - 2% on cost
Equipment, boats and land fleet - 10% on cost
Fixtures & fittings - 20% on cost
Motor vehicles - 10% on cost
Computer equipment - 20% on cost

Leasehold land and buildings are depreciated over the life of the lease.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Pension costs

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Governance costs

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.

Support costs

Support costs represent indirect charitable expenditure which is necessary in order to carry out the primary purposes of the charity and comprises provision of office and financial services.

Cash and cash equivalents

Cash at bank and in hand includes cash and short term deposits with a withdrawal notice period of no more than 90 days.

Financial instruments

The charity only has financial assets and financial liabilities that qualify as basic financial instruments which are recognised at transaction cost and subsequently carried forward at amortised cost.

continued...

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THE COBNOR ACTIVITIES CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experiences and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4. DONATIONS AND LEGACIES

4. DONATIONS AND LEGACIES
2025 2024
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Donations 1,297 138,259 139,556 23,383
5. INVESTMENT INCOME
2025 2024
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Deposit account interest 193 - 193 6,243
6. INCOME FROM CHARITABLE ACTIVITIES
2025 2024
Charitable Total
activities activities
£ £
Activity courses 643,953 462,936
Residential hire charges 90,816 84,036
734,769 546,972
7. OTHER INCOME
2025 2024
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Insurance claim proceeds 2,353 - 2,353 120,485

continued...

Page 13

THE COBNOR ACTIVITIES CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025

8. CHARITABLE ACTIVITIES COSTS

Charitable activities
Support costs
9.
SUPPORT COSTS
Support costs		 Support
Direct
costs (see
Costs
note 9)
£
£
793,320
-
-
37,663
793,320
37,663
Governance
Finance
costs
£
£
1,089
36,574		 Totals
£
793,320
37,663
830,983
Totals
£
37,663

Included within the governance costs are fees payable to the independent examiner of £3,605 (2024: £3,500) for the independent examination, and fees for other accountancy services of £7,723 (2024: £8,267).

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025 2024
£ £
Depreciation - owned assets 58,293 55,751
Surplus/(deficit) on disposal of fixed assets (1,033) 2,350
Other operating leases 6,226 6,792

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2025 nor for the year ended 31 October 2024.

Related party transaction disclosures can be found at note 22.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2025 nor for the year ended 31 October 2024.

continued...

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THE COBNOR ACTIVITIES CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025

12. STAFF COSTS

13.

STAFF COSTS
2025 2024
£ £
Wages and salaries 354,827 323,818
Social security costs 20,100 15,667
Other pension costs 5,212 3,411
380,139 342,896
The average monthly number of employees during the year was as follows:
2025 2024
FTE number of staff - administration 3 3
FTE number of staff - operational 11 11
14 14
The average number of staff members employed throughout the year was 18 (2024 - 19).
No employees received emoluments in excess of £60,000.
Included within the staff costs note above is total remuneration paid to key management personnel of £50,528 (2024
£47,977) including employer's national insurance costs.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 6,715 16,668 23,383
Charitable activities
Charitable activities 546,972 - 546,972
Investment income 6,243 - 6,243
Other income 120,485 - 120,485
Total 680,415 16,668 697,083
EXPENDITURE ON
Charitable activities
Charitable activities 837,420 16,276 853,696
NET INCOME/(EXPENDITURE) (157,005) 392 (156,613)
RECONCILIATION OF FUNDS
Total funds brought forward 1,363,074 6,212 1,369,286

Included within the staff costs note above is total remuneration paid to key management personnel of £50,528 (2024: £47,977) including employer's national insurance costs.

continued...

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THE COBNOR ACTIVITIES CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£ £ £
TOTAL FUNDS CARRIED FORWARD 1,206,069 6,604 1,212,673
14. TANGIBLE FIXED ASSETS
Leasehold Equipment,
land and boats and Fixtures &
buildings land fleet fittings
£ £ £
COST
At 1 November 2024 1,382,170 224,980 93,863
Additions - 113,247 600
Disposals - (3,786) -
At 31 October 2025 1,382,170 334,441 94,463
DEPRECIATION
At 1 November 2024 242,006 128,691 75,031
Charge for year 27,643 19,621 4,844
Eliminated on disposal - (3,219) -
At 31 October 2025 269,649 145,093 79,875
NET BOOK VALUE
At 31 October 2025 1,112,521 189,348 14,588
At 31 October 2024 1,140,164 96,289 18,832
Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 November 2024 22,800 17,382 1,741,195
Additions - 3,439 117,286
Disposals - - (3,786)
At 31 October 2025 22,800 20,821 1,854,695
DEPRECIATION
At 1 November 2024 2,280 12,634 460,642
Charge for year 2,280 3,905 58,293
Eliminated on disposal - - (3,219)
At 31 October 2025 4,560 16,539 515,716
NET BOOK VALUE
At 31 October 2025 18,240 4,282 1,338,979
At 31 October 2024 20,520 4,748 1,280,553

continued...

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THE COBNOR ACTIVITIES CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025

15.
STOCKS
Stocks
16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
17.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 19)
Trade creditors
Social security and other taxes
Pension contribution creditor
Other creditors
Accruals and deferred income		 2025
£
1,942
2025
£
15,381
-
15,381
2025
£
6,210
71,403
8,926
1,586
409
76,552
165,086		 2024
£
769
2024
£
292,736
2,523		 2024
£
769
295,259
2024
£
5,408
36,029
4,294
3,838
-
330,831
380,400

Deferred income for the year totalled £46,978 (2024: £310,608) and relates to deposits received and bookings invoiced or paid in advance.

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025 2024
£ £
Bank loans (see note 19) 22,950 29,087

19. LOANS

The charity received a Government backed bounce back loan of £50,000 in 2020. The term of which was interest free for first 12 months, then a rate of 2.5% per annum. The loan is repayable in full in October 2030.

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THE COBNOR ACTIVITIES CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025

20. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
In more than five years
MOVEMENT IN FUNDS
At 1/11/24
£
Unrestricted funds
General fund
1,206,069
Restricted funds
Other restricted funds
6,032
Climbing Wall
-
Fat Face Foundation - Young Helms
Programme
524
Funding for Apprentices
48
Waterless Toilet
-
6,604
TOTAL FUNDS
1,212,673
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Other restricted funds
Climbing Wall
Fat Face Foundation - Young Helms
Programme
Funding for Apprentices
Waterless Toilet
Adventures Away From Home - UK Youth
TOTAL FUNDS		 Net
movement
in funds
£
(26,801)
11,220
51,526
(9)
(48)
10,000
72,689
45,888
Incoming
resources
£
738,612
26,425
58,742
10,131
12,000
10,000
20,961
138,259
876,871		 2025
£
6,792
27,168
123,388
157,348
Transfers
between
funds
£
57,787
(5,746)
(51,526)
(515)
-
-
(57,787)
-
Resources
expended
£
(765,413)
(15,205)
(7,216)
(10,140)
(12,048)
-
(20,961)
(65,570)
(830,983)		 2024
£
6,792
27,168
130,180
164,140
At
31/10/25
£
1,237,055
11,506
-
-
-
10,000
21,506
1,258,561
Movement
in funds
£
(26,801)
11,220
51,526
(9)
(48)
10,000
-
72,689
45,888

21. MOVEMENT IN FUNDS

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THE COBNOR ACTIVITIES CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025

21. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1/11/23 in funds 31/10/24
£ £ £
Unrestricted funds
General fund 1,363,074 (157,005) 1,206,069
Restricted funds
Other restricted funds 6,212 392 6,604
TOTAL FUNDS 1,369,286 (156,613) 1,212,673
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 680,415 (837,420) (157,005)
Restricted funds
Other restricted funds 16,668 (16,276) 392
TOTAL FUNDS 697,083 (853,696) (156,613)

Climbing Wall - CACT has a long history of offering high quality outdoor activities, both on the water and on land. The previous climbing tower was deemed no longer fit for use due to its age. CACT had a specialised builder quote, design, and build, a state of the art climbing and high rope facility, suitable for young people and adults of all physical abilities. The new facility allows for new activities, ensuring CACTs legacy of high quality, engaging outdoor activities. It was a significant investment, and volunteer Jeremy Drummond fundraised 90% of the build cost within 3 months of launching the campaign. We were grateful for the support from the John and Hilary Pritchard Trust who funded 50% of the cost. The facility has already been used by over 2000 young people, including 55 young people with disabilities who made use of our adapted climbing equipment, whose Chichester District Council's grant made possible.

Fat Face Foundation - Young Helms Programme - CACT's targeted programme to children and young adults between the ages of 8 and 25 in receipt of special means from certain local schools continues to prosper. This year we have worked with 15 separate schools/organisations to enable 200 (49 - 2023) young people to develop their confidence, determination and teamwork through keelboat sailing, a major achievement for CACT and its funders.

Funding for Apprentices - We received funding to help cover the salary of one of our apprentices. This kind donation means that we can continue to offer our program to young adults in the local area, providing them qualifications in the outdoor sector, as well as helping them develop key life and employability skills. In 2025 we began our 3rd cohort of apprentices.

Waterless Toilet - In our continued effort to lessen our impact on the environment, we have received planning permission to build a Solar Waterless Toilet in our activity field. This will replace the need to hire portable toilets, which require weekly emptying by a truck, as well as using chemicals. The waterless toilet requires no chemicals and limited ongoing maintenance. 50% of this project has been funded by Meadow Blue.

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THE COBNOR ACTIVITIES CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025

21. MOVEMENT IN FUNDS - continued

Adventures Away From Home - UK Youth - We received funding from the UK Youth Adventures Away from Home grant to support the delivery of residential outdoor learning opportunities for young people. The grant was used to subsidise residential stays, activity delivery, and associated staffing and resource costs, helping to ensure access for young people facing barriers to participation. The funding directly supported the Trust's charitable objectives by enabling us to provide outdoor experiences to all young people.

Transfers between funds

Transfers between funds represent the reallocation of resources to reflect capital expenditure incurred during the year.

During the year, funding received for capital purposes was spent in accordance with the terms of the relevant funding arrangements. Assets acquired have been recognised as unrestricted fixed assets in the financial statements. However, to reflect that the funding has been fully applied to the related capital items, a transfer has been made from the specific restricted fund to unrestricted funds, resulting in no balance being carried forward on that specific fund.

22. RELATED PARTY DISCLOSURES

Allonsy Ltd is a company co-owned by the trustee, M D Wright. During the year Allonsy Ltd supplied sailing instructor services to the charity at a cost of £6,300 (2024: £7,100). The transaction is considered at arms length and is with the full knowledge and support of the trustees and the centre manager.

Rushall Partnership is a partnership co-owned by the trustee, Ms L Rushall. During the year Rushall Partnership supplied professional services to the charity at a cost of £Nil (2024: £600). The transaction is considered at arms length and is with the full knowledge and support of the trustees and the centre manager.

23. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025 2024
£ £
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities) 45,888 (156,613)
Adjustments for:
Depreciation charges 58,293 55,751
(Profit)/loss on disposal of fixed assets (1,033) 2,350
Interest received (193) (6,243)
Interest paid 875 868
(Increase)/decrease in stocks (1,173) 280
Decrease/(increase) in debtors 290,439 (325,277)
(Decrease)/increase in creditors (216,116) 324,158
Net cash provided by/(used in) operations 176,980 (104,726)
24. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS
At 1/11/24 Cash flow At 31/10/25
£ £ £
Net cash
Cash at bank and in hand 14,081 55,277 69,358

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THE COBNOR ACTIVITIES CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2025

24. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS - continued

14,081 55,277 69,358
Debt
Debts falling due within 1 year (5,408) (802) (6,210)
Debts falling due after 1 year (29,087) 6,137 (22,950)
(34,495) 5,335 (29,160)
Total (20,414) 60,612 40,198

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THE COBNOR ACTIVITIES CENTRE TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2025

2025
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
1,297
138,259
139,556
Investment income
Deposit account interest
193
-
193
Charitable activities
Activity courses
643,953
-
643,953
Residential hire charges
90,816
-
90,816
734,769
-
734,769
Other income
Insurance claim proceeds
2,353
-
2,353
Total incoming resources
738,612
138,259
876,871
EXPENDITURE
Charitable activities
Staff costs
332,955
21,872
354,827
Social security
18,195
1,905
20,100
Pensions
5,212
-
5,212
Direct cost of activities
127,341
29,957
157,298
Utilities
77,929
1,610
79,539
Insurance
30,760
1,150
31,910
Insurance claim replacement costs
541
-
541
Marketing and advertising
2,465
1,072
3,537
Staff welfare and training
7,490
3,491
10,981
Building maintenance and rent
18,430
2,673
21,103
Office cost
31,390
1,150
32,540
Staff recruitment fees
-
-
-
Motor and travel cost
4,676
-
4,676
Subscriptions
315
-
315
Computer expenses
13,481
-
13,481
Depreciation of tangible fixed assets
57,603
690
58,293
Loss on sale of tangible fixed assets
(1,033)
-
(1,033)
727,750
65,570
793,320
Support costs
Finance
Bank charges
214
-
214
Carried forward
214
-
214		 2024
Total
funds
£
23,383
6,243
462,936
84,036
546,972
120,485
697,083
323,818
15,667
3,411
128,012
48,046
35,086
108,283
3,145
10,181
38,898
29,533
5,388
6,286
3,737
15,132
55,751
2,350
832,724
1,265
1,265

This page does not form part of the statutory financial statements

Page 22

THE COBNOR ACTIVITIES CENTRE TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2025

2025
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
Finance
Brought forward
214
-
214
Bank interest
875
-
875
1,089
-
1,089
Governance costs
Fees to independent examiner
3,605
-
3,605
Accountancy services
7,723
-
7,723
Legal and professional
10,930
-
10,930
Bookkeeping cost
14,316
-
14,316
36,574
-
36,574
Total resources expended
765,413
65,570
830,983
Net (expenditure)/income
(26,801)
72,689
45,888		 2024
Total
funds
£
1,265
868
2,133
3,500
8,267
7,072
-
18,839
853,696
(156,613)

This page does not form part of the statutory financial statements

Page 23