REGISTERED COMPANY NUMBER: 03211438 (England and Wales}
REGISTERED CHARITY NUMBER.. 105T920
TRUSTEES. REPORT AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FOR
CHALLENGE ADVENTURE CHARITIES
LEES
Chariered Certified A￿(*￿n1ants
lTh)ram Htyjse
Mtsrnlian Way
Norith
Norfolk
NR7 OTA

CHALLENGE ADVENTURE CHARITIES
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Pa9e
Trusl••s' Report
1 to 2
Ind•p8nd8nt Examinorfs R•port
Statement tsf Flnan¢lal A¢bvitles
Balance Sheet
Notes to the Financial Statements

CHALLENGE ADVENTURE CHARMES (REGISTERED NUMBER: 032114381
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Th& trustèès who are also diractors of th8 charity fi￿ Ihe purposes ol thè Compani8s Act 2006, prasant thèir report with thè
financi81 statèmonts of tha Charity lor thè year gndÉd 31 Mar¢h 2023. Tho trust9ès hav$ adoptèd the provisions of A¢¢ounting and
Reporting by Chanb'es.. Statement of Re(x)mmerKled Practice aptAicetAe to charities preparing theii aGGounts in accordance with
the Flnandal Repming stsndard applkable In ihe UK and Republlc of Ireland {FRS 1021 leffect￿e 1 January 20191.
OBJECTIVES AND ACTMTIES
Prlnclpal A¢tfviiy
The principal activity of the comF￿nY throwJhotrt the year was to raise tharity fvnds through the or9anisation of C￿11￿9 events.
ROVI￿ of thq Y•ar
The directors were delighted thal. following the dfftulties wlh Cowd. the (tharity was ab￿ to hold two successful events dUri￿j the
year. The Cahois Challenge and the Napdeon Challenge wete LK>th very well sUP￿rted atKJ raised a 51gnrficant atnount of Money
foi charity
FINANCIAL REVIEW
Résults and Inv•stm•nt Pollcy
The suiplus ol the company for the year Was £3,45812022- DefKil of £5141.
The trustee5 are pleased to annOUr￿ that all Ihe monies ￿lSed by individual participants by way of spOnsc￿ShiP Yrfill continue to be
distributed to charity. Intangible income in respect of accoth)tancy and audit servic£s provided at no cost to the company is not
reflected in the company's incotr£ and expeThJrture-. all other costs have Leen rrot by partiapanis and the event sponsors.
The investment policy af the wrnpany is to distribute S￿)n￿)rShiP inc(xne at the earliest opwxtunty and therefore it does not invest
fvnds on a long-term b85is. Funds from sFYJnsor5hip incom8 accrue bank int8fgSt until thgy donatgd to the iespedive charities.
Reserves policy
The reserves fund represents the uniestricted funds an￿ng from past operab.ng iesums. 11 also reptesents the free ￿sErveS of thE
charity, as th8re are no fixed assets. It 15 the policy of the charity to distribute all tTTronies iaised by p8rticip8nts by way of
sponsorship Income and to do so at Ihe earliest opportunty. such that these fuvds are r￿1 reseryed. Reserve5 at 31 March 2023 of
£37,613 rep￿sernt the excess of corporale evert Spons￿shIp. entry lees fvom participants and bank inlerest compared to
oveiheads. The trustees have examined the requwement to maintain free reserves and concluded that il is apwopnate lo build
resetve5 UP to a level that miligÈle5 relkin￿ on corw)rate sp{￿rShI
STRUCTURE, GOVERNANCE AND MANAGEMENT
Goveming document
The charity is conlrolled by ils g)veming dooJm*L a deed ol Injst. and consb"tutes a h"miled ccthpany, liniled tTry guarantee, as
defined by the Companies Act 2006.
Organisational struetu
The company is made up ol a board of Iwo directcys wlK* aci as Ihe trustees," all de￿S1￿$ a￿ made by unanimous agreement ol
the Irustees.
REFERENCE AND ADMINISTRATIVE DETAILS
Reglsterèd Company numbèr
03211438 IEngland and Wales)
Reglster•d Charlty nUM￿r
1 Q57920
Reglstered office
18 Glasshouse Studios
Fryèm Court Road
Fordingbirdge
Hampshi
SP6 1QX
Trustèès
Mr C J Saltrick (resigned 12 June 20231
Mr S G Ma50n-Elliott
Mr T E Mason-Elliott lappointed 17 February 20231
Pa98 1

CHALLENGE ADVENTURE CHARMES (REGISTERED NUMBER: 032114381
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
REFERENCE ANO ADMINISTRATIVE DETAILS
Ind•p•nd•nt Examln•r
Mr Jeremy LaurenGe Hyde FCCA FCA
LEES
Chartered Ce￿fied Accountants
Ingram House
Meridian Way
Norfolk
NR70TA
Approved by ordet of the board oftrustees on 2S Mard) 2024 and signed on rts behaff by.
Mi T E Mason-Elliott- Trustee
Pa98 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
CHALLENGE ADVENTURE CHARITIES
Independent *xamln¢rf$ report to the Iru$t¢e$ of Challenge Adventure Chadties ftho Compan￿)
I repM)n to Ihe chanty trusiees on my exa￿natiOn of Ihe aCc￿nIS of Ihe Company for the year ended 31 March 2023.
R•sponslbllltl•s and basls of report
As ¢harity's trustoss of th¢ Company land also its directots for thè purpos¢s of (x>mpany kwl you aro rgsponsiblg for th
preparat￿n ofthe acwunts in accoidarKe wth the requiretnents of Ihe CiwnpaTres Act 20061.lhe 2006 ACYI.
Having satisfied myself that the accounts of the Company are not to be audited under Part 16 of the 2006 Act and are
eligible for independent examination. I rerort in respect ol wy examinati￿ of ￿)ur chariVs accounts as carried out under Section
145 01 the Charities Ad 2011 1'th¢ 2011 A¢t'l. In carrying out my ¢xaninath"on I have ft￿loWed the Directions given by the Charity
Commission under Section 145(5) Ibl ol the 2011 kt.
Ind•pond•nt oxaminerfs ststomont
I have completed my examinaticm. I confimi that no matters have come to my attention in connection with the examination giving
me ￿use to believe..
accounting records were not kept in respect oflhe Company as required by Sedion 386 of the 2006 Act., or
the accounts do not accord with those records.- or
the actounts do not comply wth Ihe accounl'ng reqJirements of Section 396 01 the 2(XJ6 Act other than any requirement
that ttrE accoun15 give a true and fair view which is not a matter considered as part of an independent exatnination., or
the accounts have not been prepared in ac(X)tdar￿e wtth the meth(xls and prinEiples of the StatetnEnt of Recommended
PraGtice for accounting and reporting by charities (applicable to tharities preparing their accounts in accordance with the
Financial Reporting Standard applicable in Ihe UK aThJ Republic of Ireland IFRS 10211.
I have no Gon￿r￿S and have cO￿e across no 01hew matters In conr￿￿ wtth the examinathon to which attention sk¥Juld bp drawn
in this report in otder to enable a proper understanding of the accounts to be reathed.
Mi Jeremy Laurence Hyde FCCA FCA
LEES
Chartered Certified Accountants
Ingram House
Meridian Way
NopArych
Norfolk
NR7 OTA
25 Mard) 2024
Pa98 3

CHALLENGE ADVENTURE CHARITIES
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
2023
Unrèstricted
lunds
2022
Total
fun(Js
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
241393
EXPENDITURE ON
Charltabl& actlvltles
General
Charitable donations
General event cosls
Total
779
138,267
98 889
237,935
514
514
NET INCOMEIIEXPENDITUREI
3,458
15141
RECONCILIATION OF FUNDS
Total fvnds brought fO￿ard
34,155
34.669
TOTAL FUNDS CARRIED FORWARD
34.155
The notes fomi part of these financial statements
Pa98 4

CHALLENGE ADVENTURE CHARMES (REGISTERED NUMBER: 032114381
BALANCE SHEET
31 IAARCH 2023
2023
Unrèstricted
lunds
2022
Total
fun(ls
Notes
CURRENT ASSETS
Debtors
Cash at bank
13,560
32,083
45,￿3
27.303
86.013
113.316
CREDITORS
Amounts falling due wthin one year
18,0301
179.1611
NET CURRENT ASSETS
37,613
34.155
TOTAL ASS￿5 LESS CURRENT LIABILITIES
37,613
34,155
NET ASSETS
FUNDS
Unrestricted fund5
TOTAL FUNDS
37613
37,613
37613
34,155
Tha charitable company is ènb.dèd to axamptN)n from audit under Ssction 477 of tt)e Companiès Act 2Q06 lor the yèar &nd8d 31
M8rth 2023.
Tha mambers have not r&quir8d the tompany to cbtain an audit ol its finanaal statèmants for thè year èndad 31 March 2D23 in
a¢¢ordan¢o with Se¢tion 476 of the Companies Ad 2006.
Th8 Irust88s acknowlèdge thèir rgsponslbiities for
la)
ensuring that the chantable CoM￿nY keeps accountin9 rec(xds that comply wth Sections 386 and 387 of the Companies
Act 2(K)6 and
preparing financial stalernents whih give a true and fail view of the state of affai￿ of the charitsble company as at the end
of each financial year alld of its surplus or deficit for each financial year in accordance with the requirements of Sections
394 and 39J afKJ which alherwise COm￿Y with the rg4uifements ofthe Cotnpanie5 Act 20(￿ relatiiig to financial staternenl5,
so lar as applicable to the charitatrAe compa)y.
Ib
These financial statements have prepaied in aC(X)rdan￿ with 1he wovi5ions appliG4ble to ch31it3ble companies 5ubjed to the
small wmparhies regime.
The financial 51alements were approved by the Board of T￿￿tee$ and aulhoii5Bd fot 15yJÈ on 25 March 2024 and were signed on
its behalf by..
Mr T E Mason-Elliott- Trustee
The notes fomi part of these financial statements
Pa98 5

CHALLENGE ADVENTURE CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ACCOUNTING POLICIES
Ba$1$ of prèparlny th• financial s1atèm￿ts
The finanGial statements ol the charilable company. whith is a public benefit enlily under FRS 102, have been propared in
accordance wllh the Charlues SORP IFRS 1021 'Accouniing and Reponing ty Charltles.. Statement of Recommende
Practice applicable to charities preparing t￿1r ￿cO￿ts in accordan￿ wth the Financial Reporting Stsndard applicable in
the UK and Republic ol Ireland IFRS 1021 {effective 1 January 20191,. Financial Reporting Standard 102 'The Fin8ncial
Reporting Stsndard appkable in the UK and Republic of Ireland, arKI the C(xnpanies Ad 2J06. The financial statem¢nts
have been pre￿[¢d under the his1M¢al cost wwerhtiw.
Incomè
All income is recognised in the Statement rf Financial Activities once charty has entrfLlement to the ILJnds. it is probable
that tlE income wll be received and the atTK)unt can be rrTreasured ieliably. Partiapant sponsorship is the amunt iaised by
individual partiupators in ￿pect of sponsOt5hip donatK)nS.
EVENT SPONSORSHIP
Event sponsorship is the amount raised for the cyde e￿l as a whde ty cor[￿ale $￿sOrS.
ENTRY FEES FROM CYCLISTS
Entry fees from cyclists are the costs of Ihe cycling event that are passed on to ￿ individual parbcipstors.
CYCLING EVENT COSTS
The cycling eV￿t cost5 cover the orgarhisatK)n and running costs of Ihe Lyding events undertaken throughoul the yeai.
ADMINISTRATrON COSTS
Administrats'on costs include filing lees. bank charges aThJ the cost of promotional materiats.
ExpÈnditurE
Lisbilities are reC￿nI58d Ss 8xpenditur8 as s(x)n 85 Ihere is a legal or (x)nstructi¥e oblwJalion Ix)mmitting th8 eharity to that
expenditure. il 15 probable that a transfer of economic benefit5 will be required in settletnent and the afflount of the
obligation can be measured feliably. Expenditure is accounted for on an accruals basis and has been classified under
headings that aggregate all cost relaled to the cat￿Ory. Where costs cannot be d1￿ctlY attributed lo particular headings
they have beefi allLtsted to activiknes on a ba￿S (x)n51Stent ￿￿th the use ol resourtes.
Taxation
The charily is exempl from corFM)ratvJn lax ¢M its chanta￿e aciNth"es.
Fund accounting
Unrestricted funds can be used in attordar￿È with U* (￿an￿b1È at Ihe discjetion ol the tmstees.
Reslricied funds can only be used lor partioJkr restrtled purFoses wthin Ihe obpcls of the charity. Reslrictions arise when
specified by Ihe donor or when lunds are raised lor particular restricted pur[￿.
Further èxplanation of natur8 8nd wryK)sè of èath lund is in thè notes to thè finarKial statémènts.
OONATIONS AND LEGACIES
2023
2022
Participant swnsorship
Event 5ponsorthip
Enlry fees from cyclists
138.268
7.5JCI
95.B25
241.393
Pa9è 6
continLJ8d...

CHALLENGE ADVENTURE CHARITIES
NOTES TO THE FINANCIAL STATEMEMTS - continu
FOR THE YEAR ENDED 31 MARCH 2023
TRUSTEES, REMUNERATION AND BENEFITS
Th¢rg were no trust80s' remunoration or othèr b9n8ffts for ygar ended 31 Mar¢h 2023 nor for the ygar gnded 31 Macch
2022
Tmsl••s' ex￿nSt$
There were no trustees. expense5 paid ftKthe yeai ended 31 March 2023 nor forthe year ended 31 March 2022.
COMPARATIVES FOR THE STATEMENT OF FINAMCIAL ACTivmES
Unrestricled
funds
EXPENDITURE ON
Charitable activit185
Genetal
514
NEf INCOMEIIEXPENOITUREI
15141
RECONCILIATION OF FUNDS
Total funds brought forward
34,669
TOTAL FUNDS CARRIED FORWARD
34.155
DEBTORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR
2023
2022
Event costs pa￿ in advance
CREOITORS: AMOUNTS FALLING DUE WITHIN ONE Y&4R
2023
2022
88fbk kJ8ns and overdraftslsee note 7}
Enlry fees receNed in 8¢fvar￿e
Othercreditors
1,355
4.875
1.8QQ
30,450
48.711
LOANS
An analysis of the maturity of loans is given below.
2023
2022
Amunts f811ing due within one year on derrond..
Barhk overdrafts
Pa9è 7
continLJ8d...

CHALLENGE ADVENTURE CHARITIES
NOTES TO THE FINANCIAL STATEMEMTS - continu
FOR THE YEAR ENDED 31 MARCH 2023
MOVEMENT IN FUNDS
Net
movtrmgnt
in funds
At
31.3.23
Al 14.22
Unr•strlct•d funds
General fund
34.155
3,458
37,613
TOTAL FUNDS
34.155
37.613
Net movèmènt In funds, ind￿1&d In Ihe above are as follows".
In¢oming
resources
Resources
expended
Movement
in funds
Unrèstrictèd funds
Génèr81 fund
241.393
1237,9351
3,458
TOTAL FUNDS
241 393
237 9351
Comparatives for movwnent in lund
Net
movement
in funds
At
31_3.22
At 14.21
Unrestricted funds
General fund
34.669
15141
34.155
TOTAL FUNDS
34.669
Comparative net movement in funds. induded in the above are as follows..
Incoming
resourres
Resour¢es
expended
Movement
in fvnds
un￿StrICted funds
General fund
15141
15141
TOTAL FUNDS
A cuirent year 12 months and prior year 12 months comb1r￿d pw)sitson is as follows".
Net
movement
in funds
At
31.3.23
At 14.21
Unrestricted funds
General fund
34.669
2.944
3T.613
TOTAL FUNDS
34.669
2,944
Pa9è 8
continLJ8d...

CHALLENGE ADVENTURE CHARITIES
NOTES TO THE FINANCIAL STATEMEMTS - continu
FOR THE YEAR ENDED 31 MARCH 2023
MOVEMENT IN FUNDS- contlnued
A ¢ucrgnt year 12 months and prK)r ygar 12 monlhs (xmnbined Thet movemgnt in funds. Indud￿l in thg abovg are as follows..
Incomlng
resources
Resources
expended
Movernent
in hjnds
Unr•strlet•d fund$
General fund
241.393
1238.4491
TOTAL FUNDS
241.393
238.4491
REL4TED PA￿ry OlS¢LOSURES
Tliere were no ielaLed paily itatwctions lot ihe yeai ended 31 March 2023.
Pa98 9

This document was delivered using electronic communications and authenticated in
accordance with the registrar's rules relating to electronic forni, authentication and
manner of delivery under section 1072 of the Companies Act 2006.