CMC: PENSARN HARBOUR
(Limited by Guarantee)
FINANCIAL STATEMENTS
for the year ended 31st October 2024
(Unaudited)
Company No: 03324934 (England and Wales)
Charity No: 1062075

CMC: PENSARN HARBOUR
(Limited by Guarantee)
FINANCIAL STATEMENTS
for the year ended 31st October 2024
(Unaudited)
Contents
Page
Company Informatlon
Report of the Dlrectors and Trustees
Independent Examiner's Report
Statement of Financlal Activltles
Balance Sheet
Notes to the Accounts
2to9
10
11
12
13to17
Detalled Income & Expenditure Account
not part of the statutory flnanclal statements
18

CMC: PENSARN HARBOUR
Directors, and Trustees, Report for the year ended 31st October 2024
The Directors and Trustees present their report and accounts for the year ended 31st
Oct-24
Reference and Adminlstrative Information
Charit
Com
an
Name
CMC: Pensarn Harbour
Tradin
Name
CMC Adventure
Com
an
Number
3324934 (England and Wales)
1062075
Charit Number
Re
istered Office and O
erational Address Pen5arn Harbour
Llanbedr
Gwynedd
North Wales
LL45 2HP
Directors and Trustees
P R Kelly- Chairman
L G Charker- Hon Treasurer
C Cook
G French
A Houghton
A Sanders
P Tarr
Chief Executive
Centre Director
M Downey
Com
an
Secretar
L Addinall
Bankers
HSBC Bank plc
62 High Street
Porthmadog
Gwynedd
LL49 9LN
Inde
endent Examiner
R Morris FCA
DJH Nantwich Limited
17 Alvaston Business Park
Middlewich Road
Nantwich
Cheshire
CW5 6PF

CMC: PENSARN HARBOUR
Structure Governance and Management
Governin
Document
The charity was originally founded as the Christian Mountain Centre in 1966 and operated as an
unincorporated trust until it was re-registered on its incorporation, as a private company
registered in England and Wales and limited by guarantee, on 27th February 1997. The company
was established under a Memorandum of Association, which established the objects and powers
of the charitable company and is governed under its Articles of Association. The name was
changed to "CMC Pensarn Harbour" following the move to much larger premises at Pensarn
Harbour Llanbedr, in January 1998. The trading name of "CMC Adventure" was adopted in
November 2013.
Recruitment and A
ointment of Directors and Trustees
The directors of the company are also charity trustees for the purpose of charity law. Under the
requirements of the Memorandum and Articles of Association, the directors are elected to serve
for a period of three years, after which they must be re-elected at the next Annual General
Meeting.
The Board has a broad skills mix, including buslness, flnanclal and educatlonal skills. In order to
maintain this range, individuals are approached by the Board and invited to volunteer. They may
be drawn from the members of the company, for which a voluntary skills register is maintalned,
or from elsewhere.
The appointment by the Board of new Trustees must be confirmed by election of the members
at the next Annual General Meeting.
Trustee Induction and Trainin
Potentlal trustees are usually familiar with the work of the Centre from having stayed there
previously.
They are, normally, Invited to attend at least two Board meetings, In person, as observers, Thls
gives them an opportunityto see the work of the Board at first hand and to gain an understanding
of how it works and of current issues. If they and the Board are satisfied that the right choice has
been made, the Board will invite them to become directors and trustees. The induction and
training are very much 'on the job,, with the support of the other members of the Board. This
method has worked well, with new trustees taking a full part at an early stage. An induction pack
has also been prepared which gives new trustees a wide range of reference information on CMC.
Risk Mana
ement
The Board annually undertakes a wide-ranging review of various risks to which the charity is
exposed. The operational risks associated with the activities the Centre undertakes are also
subject to external inspection by the various licensing authorities. There are detailed procedures
for all these activities, and they form the basis of all Staff training. These inspections also cover
the health and safety of staff and visitor5 and the preparation and storage of food. There are also
procedures to minimise internal control risks, including financial management. The CEO
maintains and reviews with the Board of Trustees an on-line Risk Map. This is a live document to
which members of Senior Management and the Board can contribute, review and amend.

CMC: PENSARN HARBOUR
Structure Governance and Management
Or
anisational Structure
The governance of the charity is the responsibility of the Board of Trustees, which meets in person
at least 3 times a year (in addltion to the Annual General Meeting}. Since 2010 the Board has
been able to make decisions at a telephone conference call, which have subsequently been
replaced by zoom meetings. Several zoom meetings are held in the intervals between physical
meetings of the Board. All Board members are notified of such meetings, which support the
Centre Director/CEO and monitorfinancial and other matters between Board meetings and most
are able to join them.
The operational management of the Centre is the responsibility of the Centre Director / CEO. He
deals with the appointment of staff and all day-to-day issues, including financial management,
with support, as needed, from the Honorary Treasurer and other Board members.
Objective5 and Actlvltles
The principal objects of the charity are to educate people through outdoor pursuit activities, to
develop their physical capabilities and their mental and spiritual awareness and to advance the
Christian faith amon8 such persons and their families.
The objective for the year was to provide high quallty outdoor educatlonal experlences
supervised by qualified and experienced staff working as a Christian community. It continues, for
the time being, to only use the Bryn-y-moel site for guest accommodation.
The Centre was once again keen to ensure that visitors of all abilities were able to participate
equally in a variety of activities. As previously, it continues to be our desire to encourage visitors
from all backgrounds and of all means to use the centre and to this end It Is sometimes possible
to adjust fees in cases of partlcular need. The Trustees feel that this enables them to have due
regard to the public beneflt guldance published by the Charity Commission.
We set out to continue our policy of budgeting for a modest surplus, although in the current
financial climate and, whilst usingjust one site for accommodation, this is proving to be extremely
difficult. A forecast is agreed however from which regular monitoring takes place. We continue
to make use of the Flnancial Failure Insurance, which enables us to hold deposits within our
working balances.
When circumstances permit, we will continue to work towards building necessary working
capltal.
Achlevements and Performance
We are continually thankful for all the support we receive throughout the year, which was so very
important during 2024. At the AGM held in April 2024, the continuing concerns regarding the
cash flow of the Centre and the potential desire of the Bank to withdraw our overdraft facility
was drawn to the attention of the Members. The response to this was both incredible and
humbling. As a result of the subsequent generosity it was possible to reduce the loan on Bryn-y-
Moel by a staggering £76,500. This and other both small and large donations for specific items
has been so very encouraging including an amazing sponsored 500 mile walk undertaken in aid
of the Centre.

CMC: PENSARN HARBOUR
Structure Governance and Management
As previously reported, with the forthcoming potential redevelopment of Pensarn, the guest
accommodation at this site has been mothballed, as to incur essential ongoing maintenance costs
would not make financial sense.
What we undertake and hope to be able to continue to offer in the future cannot and should not
be done cheaply. there are risks in what we do and to mitigate these risks takes time, training,
commitment and finance.
Our belief is that what we provide is so essential for so many following the aftermath of the
pandemic. The result5 wlll be priceless to the individual, their families and friends.
Thank you for your involvement and continued interest.
Bulldings and equipment
Ongoing general maintenance is key to ensuring our guests have a positive residential experience
with us. This continues to be a challenge in a rural environment where there is not much
competition within the trades. The competent traders are often extremely busy. We have
developed good relationships with several local tradesmen, including electricians, plumbers and
general builders, Thls work has been coordinated by our Senior Staff. As standards and
quallficatlons continue to Increase, we are less able to 'do it ourselves,, hence becomlng
Increasingly reliant on external trades.
Where necessary and where we were able, we continued to repair, replace, and maintain outdoor
equipment to a high standard.
Booklngs and Finance
During 2023/2024 we dld not see the hoped for bounce back in guest numbers. Whllst the
number of groups attending the centre was slmllar to previous post COVID seasons the numbers
of young people in those groups remained low. In some cases, the cost of living continues to
impact families and their ability to fund residential trips for their children. However, we have
also come to understand that in some areas the setting up of new academy trusts has left
traditlonal schools with significantly reduced intake. We desire to continue to provide residential
courses for smaller schools, but we recognise that whilst we are only able to open one centre, we
must maximise our occupancy where we can. Our Bryn-y-moel centre has 50 beds and groups
brlnging 4 activity groups rather than 3 are significantly more viable. We are also continuing to
experience reduced engagement from young people. Colleagues and group leaders continue to
find young people are anxious about coming away from home. We have received an amazing
amount of financial support from our friends and members during the last year and we begin the
new financial year very aware of how much we need this to continue going forward. Some of
these generous donations were restricted to reducing the mortgage on our Bryn-y-moel site. This
was a need that as Directors and Trustees we felt led to Share at our AGM weekend in April. By
reducing this liability, we aim to improve our monthly cash flow. We have received planning
permission for phase 2 of our redevelopment of Pensarn and we look forward to seeingthis come
to fruition in due course.

CMC: PENSARN HARBOUR
Structure Governance and Management
Activities and Public Benefit
We have continued to run our volunteer trainee instructor programme. This provides an
opportunity for young people to gain valuable industry experience and obtain National Governing
Body awards allowingthem to pursue a career in outdoor education not only in the UK but around
the world. We have been able to work more closely with the local community running a paddle
sport club and running outdoor activities for the local schools and in one case taking the activities
to the school so that a pupil who used a wheelchair could join in. Between the schools visiting
and the paddle sports club some local young people are becoming regulars at CMC. It would be
incredible if access to high quality outdoor education regularly at a young a8e might guide them
towards a career of their own In the outdoors. We continue to maintain a genuine occupational
requirement for our staff to be Christians, believing that through our service and our community
we can share our faith with gentleness and respect. It has been extremely encouraging to meet
once a month online to pray for the centre with people whose association with CMC goes back
many decades. The impact of God's work in thi5 centre continues to draw people back and we
value their involvernent greatly.
Future Plans
Since the last annual report was wrltten we have received planning permlsslon for Phase 2 of the
redevelopment of Pensarn Harbour, This is a real answer to prayerl The additlonal 22 beds at
Pensarn Harbour not only Increases our ability to work with large groups but allows our Bryn-y-
Moel centre to be used for a separate group rather than just as overspill from Pensarn. It wlll
also give us the flexibility to host self-catering groups as well a5 special interest groups such as
walking clubs, whilst still undertaking our vital schools work. We are very aware of the scale of
the redevelopment of Pensarn Harbour and are seeking to recruit more trustees to see this
exciting project to completion. We hope to find people willing to serve as a trustee who have
project management skills, experlence of complex building projects or experlence of fundraising
significant amounts of money for charity. As we prepare to redevelop Pensarn Harbour, we are
keen to reduce our mortgage on our Bryn-y-moel site to zero. We are making great steps In thls
direction, but we would dearly love to clear it fully, allowing us to concentrate on Pensarn
Harbour and on what will be a state-of-the-art Outdoor Education centre.
Personnel
We continue to be grateful for the faithful service of our staff team both those who have been
with us some time and those who have joined us more recently. Each person on the team brings
something different. It has been a financially tough year and we have kept our team informed
along the way. Given how difficult the finance5 have been it would have been understandable if
people left to find more Secure employment or increased certainty. This has not been the case.
Instead, the staff team have concentrated their efforts and continued to go the extra mile for our
guests, for each other and for CMC. Recruitment is still challenging, and we are grateful for the
additional responsibilities team members have taken on this year. Without the good will and
adaptability of our staff team we would not be operational. Given the difficulties in recruiting
staff, we are looking to make some changes going forward to rebuild a well-qualified and
experienced team. Employment costs have risen steeply in recent years and securing housing for
staff in the local area is very challenging due to it being a popular holiday destination. However,
a labourer is worthy of their hire and as Direttors and Trustees we are working to ensure that
staff are appropriately remunerated.

CMC: PENSARN HARBOUR
Structure Governance and Management
Financial Review
Financial Performance
Reflecting all of the pressures and constraints which have already been outlined above, but also
the incredibly generous donations, previously mentioned, for the repayment of the loan on Bryn-
y-moel, the centre ended the financial year with a surplus (from unrestricted funds) of £68,565
(compared with a deficit of £6,169 for last year).
The previous work undertaken on a Medium Financial Strategy is still on hold due to the Board's
focus on the short to medium term flnancial implicatlons of the financial crisis, combined wlth
the reduced capacity due to working from Just one site. Once stability returns, the Board will
consider the longer-term Financial Strategy for the Centre.
Due to the incredible generosity of our supporters, promoted by God's grace, we are just
managing to stay financially viable, although this is looking continually more precarious whilst
working from just one site for guest accommodation and experiencing ever increasing costs. Our
future depends on the development of Pensarn Harbour and remaining flnancially secure until
then.
During the year we were blessed with speclflc donations, In addltion to those already mentioned
forthe sole purpose of reducing our Bryn-y-moel loan. These included gifts for a new dishwasher,,
buoyancy aids. assistance with garden clearance as well as towards the new Pensarn
Development Project. We continue to be so grateful for all the various actions of support
received. In addition we have received a number of significant working capital loans which have
been extremely beneficial in assisting the Centre's day to day financial viability.
Thls year the Enable Fund, which was launched wlth the purpose of covering the cost of subsidies
to indlvlduals and groups who would not otherwise have been able to afford to stay at the Centre
(see Objectives and Activities above), wa5 used once again for an inner-city school which is
located in an area of high deprivation and its 'at risk, children would not otherwise have been
able to benefit from all that the Centre has to offer.
We continue to prayerfully consider CMC'S future at every opportunity. Operating one small
centre at our current location is far from financlally sustainable and we are grateful for all the
financial support we have received to be able to continue in thls important work. We are thankful
to those who, prompted by God, through thelr faith in Him have continued to offer not just
financial support but practical and prayerful support a5 well.
The vislon we have been given for the future of CMC is inextricably linked to the redevelopment
of Pensarn Harbour. This vision aims to serve at least the next three generations by providing a
warm, genuine Christian welcome in a very special place on the water's edge. Pensarn Harbour
is a place where Christians and non-christians alike have experienced something of God's
goodness for decades. Be this through a conversation, reflecting on a genuine mountain top
experience, the last moments of a glorious sunset or the brilliant white moonlight reflected on
the water. When no words have been spoken then creation itself speaks of His great power and
love. To be able to continue to share these unforgettable, life changing moments we need to
rebuild Pensarn Harbour and welcome guests back to this, God's centre. The increased numbers

CMC: PENSARN HARBOUR
Structure Governance and Management
will ensure CMC Adventure becomes sustainable financially. However, the reason for achieving
this, is to be able to serve our guests as a Christian team and share God's love with them. We
very much welcome input and support from those who share this vision and desire to see it come
about.
Once again, during the last year, we have been blessed with significant restricted and general
fund donations, and we have received interest free working capital loans. We are acutely aware
of the need for these loans to be repaid in the future. We seek to find supporters who may be
able to afford to make interest free loans to take over from those supporters who require their5
to be repaid.
Untll we can reopen Pensarn and enjoy the economles of scale that increased accommodation
will bring, we will continue to actively seek the financial and charitable support we need to
persevere, whilst prayerfully believing our needs will be met.
"Whatever you do, work at it with all your heart, as working for the Lord."
Colossians 3:23
Reserves
The Tru5tees' policy contlnues to be to build up net current assets to the point where they
are equivalent to two months, worth of expenditure, currently approximately £70,000,
However, at the year end there were net current liabilities of £80,031 whlch compares with
net current liabilities of £74,716 in the previous year.
As reported above, the Board is aware of the gravity of the Centre's financial posltion and Is
endeavouring to seek ways to improve this position.
Ca
ital fundin
A loan of £360,000 over 25 years was taken from HSBC in July 2012 to facilitate the purchase
of the Bryn-y-moel Centre. As at the balance sheet date there was £146,454 outstanding on
this loan.
Private, interest free, loans from members have been accepted in the past to provide working
capital and indeed we were very grateful for additional loans of £65,000 received during the
year to assist with our cash flow.
At the start of the year two loans totalling £6,500 were to be repaid in the year. In the event
no loan was repaid.
Tan
ible fixed assets
Details of acquisitions of fixed assets are set out in note 6 to the accounts. The market value
of the freehold properties belonging to CMC at the balance sheet date are believed, by the
Trustees, to be at least as great as their purchase costs and subsequent improvement costs.
Also, as they are operational assets and continue to be maintained, where necessary, to a
high standard of repair, the Trustees again consider it unnecessary to set aside depreciation
of the properties for this financial year.

CMC: PENSARN HARBOUR
Structure Governance and Management
Future obli
ations
The company has no liabilities, commitments or legally binding obligations outstanding at the
balance sheet date other than those disclosed in the annual statement of accounts. In the
opinion of the Trustees, the company's assets are fully adequate to meet those obligations.
Trustees / Directors
The directors of the company for Companies Act purposes are its Trustees. The directors who
serrfed during the year are listed on page l.
Statement of Directors, / Trustees, responsibilltles
Charity law requires the Directors / Trustees to prepare financial statements for each financial
year which give a true and fair view of the state of affairs of the company and the surplus or
deficit of the company for that period. In preparing those financial statements the Directors
/ Trustees are required to:
select suitable accounting policies and apply them consistently
make judgements and estimates that are reasonable and prudent
state whether applicable accounting standards have been followed, subject to any
material departure disclosed and explained in the financial statements. and
prepare the financial statements on the going concern basis unless It is inappropriate
to presume that the company will continue to operate.
The Directors / Trustees are responsible for keeplng proper accounting records which
disclose, with reasonable accuracy, at any time the flnanclal position of the company, They
are also responsible for safeguarding the assets of the company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Risk Mana
ement
The Directors acknowledge that risk management, for Business activities, is the responsibility
of the Board of Trustees. The Board undertakes a review of all of its key systems of internal
control and financial management processes regularly and is satisfied that reasonable
assurance can be given that risk5 have been adequately mitigated. The review is ongoing.
Independent Examiner
DJH Nantwich Limited (Accountants), who serve as our Independent Examiners, have
expressed their willingness to continue in office and a resolution to reappoint them will be
proposed at the forthcoming Annual General Meeting on 26th April 2025.

CMC: PENSARN HARBOUR
Structure Governance and Management
Compliance with legislation
This report has been prepared in accordance with the special provisions of Part 15 of
Companies Act 2006 relating to small companies.
Approval of these financial statements
These annual statements were approved by the Trustees on 15th March 2025
By order of the Board
P R Kelly (Director
rustee)
Registered Office..
CMC Pensarn Harbour
CMC Pensarn Harbour
Llanbedr, Gwynedd, LL45 2HP

Report ofthe Independent Examiner to the Trustees of
CMC . PENSARN HARBOUR
I report to the charity trustees on my examination of the accounts of the company for the year ended
315t October 2024 Set out on pages 11 to 17.
The report is made 501ely to the charitable company's trustees, as a body, in accordance with Chapter 3
of Part 16 of the Companies Act 2006 and the charitable company's trustee5 as a body in accordance
with sectlon 154 of the Charities Act 2011. My independent examiner's work has been undertaken so
that I might state to the charitable company's trustees those matter5 that l am req uired to state to them
In an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do
not accept or assume responsibility to anyone other than the charitable company, the charitable
company's members as a body and the charitable company'5 trustees as a body for my independent
examlner's work, for this report, or for the opinions I have formed.
Res
on51bilitles and basls of re
As the charitable company's trustees land also its dlrectors for the purposes of company lawl you are
responsible for the preparation of the accounts in accordance with the requirement5 of the Companies
Act 20061'the 2006 Act'l.
ort
Having satisfied myself that the accounts of the company are not required to be audlted under Part 16 of
the 2006 Act and are eligible for Independent examination, I report in respect of my examination of your
charlty's accounts as carrled out under sectlon 145 of the Charitles Act 20111'the 2011 Act'l. In carrylng
out my examinatlon I have followed the Dlrectlons glven by the Charlty Commission u nder Section
14515llbl of the 2011 Act.
Inde
endent examlner's statement
Since the company's gross income exceeded £250,000 your examSner must be a member of a body listed
in section 145 of the 2011 Act. I confirm that l am quallfled to undertake the examination because l am a
member of the Institute of Chartered Accountants In England and Wales, whlch Is one of the listed bodies,
I have completed my examlnatlon. I confirm that no matters have come to my attention in conne¢tion with
the examination glvlng me cause to believe:
l. accountlng records were not kept in respect of the company as required by sectlon 386 of the
2006 Act,, or
2. the accounts do not accord wlth those record5,' or
3. the accounts do not comply with the accounting requirements of sectlon 396 of the 2006 Act
other than any requirement that the accounts glve a 'true and fair vlew,, which 15 not a matter
consldered as part of an independent examination,. or
4. the accounts have not been prepared in accordance wlth the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities applicable to
charities preparing thelr accounts in accordance wlth the Financlal Reporting Standard applicable
in the UK and Republic of I reland IFR51021.
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.
R Morris FCA
DJH Nantwich Limited
17 Alvaston Business Park
Middlewich Road
Nantwich
CW5 6PF
Dated.. Id ty. I loz
io

CMC: PENSARN HARBOUR
STATEMENT OF FINANCIAL ACTIVITIES (Includlng Income & Expendlture Account)
for the year ended 31st October 2024
Unrestricted funds Restrlrted
General
Funds
Funds
Total
Total
Funds
Fund5
31/10124 31/10/23
Notes
Income and endowments from:
Donations and legacies
Income from Investments
Tuck shop trading Income
78,191
651
1,459
91,112
169,303
651
1,459
112,103
iio
2,078
Charitable actlvlties
Course and hostel Income
Residential
Non-residentlal
Net rental and hlre income
295,693
21,999
1,620
295,693
21,999
1,620
305,917
6,463
1,620
Total Income and endowments
399,613
91,112
490,725
428,291
Expendlture on ralslng funds
Publicity Costs
Tuck shop tradlng costs
1,628
1,066
1,628
1,066
2,352
1,847
Expendlture on charltable actlvltles
Course and hostel runnlng costs
420,554
420,554 457,740
Total expendlture
423,248
423,248
461,939
Net Income (expendlture) before transfers
-23,635
91,112
67,477
-33,648
Transfer between funds
92,200
-92,200
Net movement In fund5
68,565
-1,088
67,477
-33,648
Fund balances b/fwd at 1.11.23
602,916
4,375
607,291
640,939
Fund balances clfwd at 31.10.24
671,481
3,287
674,768
607,291
li

CMC: PENSARN HARBOUR
BALANCE SHEET as at 31st October 2024
3111012024
31/10/2023
Notes
Tanglble Fixed Assets
992,251
965,597
Current Assets
Stock
Debtors and prepayments
Cash at bank and in hand
3,582
6,382
4,580
14,544
3,916
8, 790
21,497
34,203
Llabilltles.. Amounts falling due withln one year
-94,575
-108,919
Net current assets /-Ilabilitles
-80,031
-74,716
Total assets less current Ilabilltles
912,220
890,881
Llabilltles: Amounts fallln8 due after more than one year
-237,452
-283,590
Net assets
io
674,768
607,291
Unrestrlcted funds
li
671,481
602,916
Restrlcted funds
12
3,287
4,375
Total charlty fund5
674,768
607,291
These accounts are prepared In accordance wlth the provlsions applicable to companies subject to the small
companies regime.
For the year ending 31st October 2024 the company Is entitled to exemptlon from audlt under Sectlon 477 of the
Companles A¢t 2006 relating to small companle5. No members have requlred the company to obtaln an audit of
the flnancial ststement5 for the year ended 31st October 2024 in accordance with sectlon 476 of the Companles
Act2006.
The DirectOFS acknowledge their responsibility for complyingwith the regulations of the Companies Act 2006
wlth respect to accounting records and the preparation of accotjnts.
ON BEHALF OFTHE BOARD
Approved by the Board ol Trustee5 IDirectorsl and slgned on its behalf on 15th March 2025.
P R Kelly
Director & Trustee
MDowney
Centre Director
The notes on pages 13 to 18 torm part of these flnancial statements.
12

CMC: PENSARN HARBOUR
Notes to the accounts for the year ended 31st October 2024
I ACCOUNTING POLICIES
1.1 Basls of preparatlon of accounts
The accounts are prepared under the historical cost convention and Include the results of the charity's
operations whlch are described in the Dlrectors 'and Trustees, Report and all of whlch are contlnuing.
The accounts have been prepared In accordance with the Charltles Act 2011 and the Companies Act 2006,
FRS 102, The Flnancial Reporting Standard applicable in the UK and Republic of Ireland and the Statement
of Recommended Practlce: Accounting and Reportlng by Charities IFRS 1021.
The accounts are prepared In sterllng, which is the functlonal currency of the charlty. Monetary amounts
are rounded to the nearest £.
The trustees consider that there are no material uncertalntles that may cast 51gnlflcant doubt on the
charity's ablllty to contlnue as a golng concern. The charity is a public benefit entity.
1.2 Tan8lble flxed assets and depreclatlon
Tangible flxed assets are stated at cost less depreclatlon. Flxed assets are not capitallsed where the
purchase cost Is below £500.
Depreclatlon15 provlded at rates calculated to wrlte off the cost of the fixed assets, less thelr estlmated
residual value, over their expected useful Ilves on the followlng basls.,
Freehold Property
Nll12% stralght Ilne basis prior to l.11.20021
Course Equipment
25% stralght Ilne ba515
Flxtures, Flttlngs & Equlpment
25% stralght line basls
Motor vehlcles
20% straight Ilne basls
The Centre propertles are operatlonal assets accordlng to charlty law, beSng fundamental to the ongolng
work of the Centre. As they are continually maintained to a hlgh standard of repalr, the Trustees conslder
It unnecessary to set aslde any further sum by way of depreciation, as thls would represent an excessive
char8e for these propertles In the financlal year,
1.3 Value added tax
CMC contlnues to be an educatlonal establlshment under VAT regulatlons. It therefore remalns exempt
from VAT, which Is not recoverable and a5 such is included In the relevant costs In the Statement of
Financlal Actlvltles.
1.4 Stock
Stock Is valued at a lower cost and net reallsable value, after maklng due allowance for obsolete and slow
movlng Items.
1.5 Dobtors
Trade and other debtor5 are recogni5ed at the settlement amount due after any trade dlscount offered.
Prepayment5 are valued at the amount prepaid.
1.6 Liabilities
Llabilities are recognised where the charity has a present obllgatlon resulting from a past event that wlll
probably result In the transfer of funds to a third party and the amount due to settle the obligatlon can
be measured or estimated reliably. Liabilities are normally recognised at their settlement amount after
allowing for any trade discounts due.
1.7 Operatlng leases
Rentals pald under operating leases are charged to the Income and expendlture account as they fall due.

CMC: PENSARN HARBOUR
Notes to the accounts for the year ended 31st October 2024
1.8 Funds
Unrestricted funds are available for use at the discretlon of the trustees in furtherance of the general
objectives of the charity. Restricted funds are subjected to restrlctions in their expenditure imposed by
the donor or through the terms of an appeal. The main fund held by the charlty Is the General Fund
lunrestrictedl.
2 INCOME AND ENDOWMENTS
2.1 Voluntary Income and donations are accounted for as recelved by the charlty; they are generated by
provlding informatlon about the work of the centre to Its visitors, supporters and the general public by
means of printed and electronic publications, No permanent endowments have been recelved in thls
flnanclal period, but these are dealt wlth through the Statement of Flnanclal Activities when re¢elved.
2.2 Course and hostel Income is shown gross after adjustments for deferred income relating to deposlts
for future courses.
3 EXPENDITURE
3.1 Expenditure on ralsing funds Includes the costs Incurred in purchaslng Items for the Tuck Shop Ilncludlng
souvenlrsl, which are then sold on to vlsltors and friends, and the cost of fundralslng and publicitvi
throu8h whlch donatlons are 8enerated.
3.2 All other costs, Includlng governance costs and support costs, are allocated to the one charltable actlvlty
whlchls the runnlng of courses at rhe hostel at Pensarn Harbour and the premlses at Bryn-y-moel.
Included are fees to the Independent examlner of £2,400 = £2,300) re the examinatlon and
£1,38012023 £1,300) re the other servlces.
4 TOTAL EXPENDITURE
Staff
Costs
Depreclatlon
Other
Costs
Total
Total
30110124 30/10/23
Course & hostel runnlng costs
Tuck shop tradlng costs
Fundralsing & publicitv
193,540
28,701
198,313
1,066
1,628
420,554
1,066
1,628
457,740
1,847
2,352
12 months to 31.10.24
12 months to 31,10.23
193,540
241,737
28,701
30,491
201,007
189,711
423,248
461,939
Note: The Tuck Shop tradlng unlt is operated as an anclllary facillty at the Pensarn Hostel for the benefit of
users and any proflts are all ploughed back into the malnstream actlvlty of the company,
5 STAFF COSTS & TRUSTEES EXPENSES
5.1 Staff costs comprised
30110124 30/10/23
Wages and Salaries
Social Securlty Costs
Pension costs
175,965
219,330
9,481
11,504
8,094
IQ,903
193,540
241,737
Note.. The charity operated a defined contrlbution scheme for staff costlng £3,006 in the year. In addition
the charity contributed to a personal pension plan for eleven employees at a cost of £5,088 in the year. It
Is antlcipated that payments will continue at the same rate during the coming year.
No employee earns more than £60,000. The average number of staff employed by the charlty durlng the
year was as follows:

30110124 30/10/23
13
16
Charltable activities
Fundraislng and publicity
13
16
The key management personnel of the charlty are the trustees and the Chief Executlve Officer, together
with the Senior Instructor, House Manager and Centre Admln15trator. The total employee benefits of the
key management personnel was £95,22012023 = £107,476)
5.2 No remuneratlon or expenses were paid to Trustees in the perlod.
6 TANGIBLE FIXED Assrrs
Freehold
Property
Pensarn &
Bryn-y-moel
Course
Equlpment
Centre
Fittings &
equlp.
Motor
Vehicles
TOTAL
Cost
Bl￿d 1.11.23
Additlons
Less.. re Disposals
932,337
40,840
122,315
3,877
263,720
10,638
14,000
1,332,372
55,355
Carrled Forward 31.10.24
973,177
126,192
274,358
14,000
1,387,727
Depreclatlon
B/fwd 1.11.23
Charge for the period
Les5: re Dlsposals
25,041
108.134
7,247
219,600
21,454
14,000
366,775
28,701
Carried Forward 31.10.24
25,041
115,381
241,054
14,000
395,476
Not book values
At 31.10.24
At 31.10,23
948.136
907,296
10,811
14,181
33,304
44,120
992,251
965,597
Footnote:
# Work has been commlssioned regardlng the upgradlng / modernisation of Pensarn Harbour, These
costs, which are currently belng met by speciflc donations, have been capltallsed. Further spendlng,
enhancing the value of the buildings, is hlghly Ilkelv.
7 STOCK comprlses
30110124 30/10/23
Goods for resale (Tuck Shopl
Food
Cleanlng Materlals
Brochures
194
1.097
662
200
1.429
3,582
144
549
678
400
2,145
3,916
8 DEBTORS & PREPAYMENTS
Due within one year
Trade debtors
Prepayments
Other debtors
858
3,386
2,138
6,382
79
3,815
4,896
8,790

CMC: PENSARN HARBOUR
Notes to the accounts far the year ended 315t October 2024
30110124 30/10/23
9 LIABILITIES: Amounts falllng due within one year comprlse-
Bank overdraft
Trade creditors
Customers, Monies held
Accruals and deferred income
Bank 25 year repayment mortgage
Working capital loans
Short Term Loan
Bounce Back Loan
771
2,539
42,750
8,556
27,702
6,500
25,840
1,745
37,518
18,599
6,500
5,757
94,575
5,615
108,919
after more then one year
25 year repayment mortgage
Worklng capltal loans
Bounce Back Loan
118,752
90,000
28,700
237,452
224.071
25,000
34,519
283,590
Footnotes:
l. Deposlts are no longer held In a separately deslgnated bank account, but comblned Into the maln account for the
centre. Flnanclal fallure Insurance was taken out In November 2017 to reflect thls new pollcv.
2. The bank mortgage Is from H58C 8ank plc and Is secured by a debenture and legal charge on the company'5
freehold property at Pensarn and 8ryn-y-Moel. Durlng the year, followlng an appeal to our members, It was p0$51ble
to repay E76,500 of thls loan, The Ilabllltv Shown Includes £0 due after more than flve years {2023 ¥ £132,034).
3. Prlvate Interest free loans from members have been accepted In the past to provlde worklng capltal. At the start
of the year two loans totalllng E6,500 wer2 to be repald In the year. In the event these loans were not repald.
4. In 2021 advantage wos taken of the Government'5 Bounce 8ack Loan of £50,000. Thls was Interest free for the
flrst year, Repayments startedln December 2021. It Is repayable after 10 ye?r5. The Ilablllty shown Includes £4,196
due after 5 years.12023 - £10,608)
10 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tan8lble Flxed
Assets
Net current
Assets / Ilabllltles
Lon8 term
loans
30110124 30/10/23
Unre5trlcted general fund
Restrlcted funds
992,251
-83,318
3,287
-80,031
237,452
671,481
3.Z87
674,768
602,916
4,375
607,291
992,251
237,452
11 UNRESTRICTED FUNDS
Movements on these durlng the year were as follows..
Asat
Income
30110/23
Exp
Inter fund
Transfers
Asat
30110124
General Accumulated Fund
602,916
399,613
423,248
92,200
671.481
Totsl Unrestricted Funds
602,916
399,613
423,248
92,200
671,481
12 RESTRicfED FUNDS
Movements on these during the year were a5 follows:
Asat
Income
30110123
Exp
Inter-fund
Transfers
A5at
30110/24
Equipment Purchase Fund
HR Handbook
# Future Developments Fund
Mortgage Reduction Fund
3,125
1,250
10,075
-10,075
-1,250
-4,375
-76,500
3,125
4,375
76,662
162
4,375
91,112
-92,200
3,287
15

CMC: PENSARN HARBOUR
Notes to the accounts for the year ended 31st October 2024
The Equlpment Purchase Fund represent5 donations received to fund specific costs. During the year
funds were received for the purchase of buoyancy aids and a dishwasher. These were spent in the
year. The donation recelved in a previous year for mattresse5 15 to be carried forward into 2024125.
£1,250 was received last year to fund professional asslstance In creating a new Handbook. £672.50
was spent on this during the year and the remainder is absorbed Into general funds.
# CMC Adventure was extremely grateful to receive donations totalling £4,375 towards the upgrading
/ modernisation of Pensarn Harbour, Costs for thls prellminary work have already been spent and
are Included within the capitallsatlon costs shown at 6 above The Mortgage Reduction Fund was set
up durir)g the year to receive donations specifically with a view to reduclng the bank mortgage.
vlrtually all amounts received were used to make a substantial mortgage repayment in October 2024.
13 RELATED PARTY TRANSAcfioN5
Donatlons received without conditions from the trustees and other related partles totalled £17,355 and
those wlth conditions totalled E58,325 (Total recelved in 2023- £47,861).
14 COMMITMENTS
Total
Total
30110124 30/10/23
I Capital expenditure authorised and contracted for
2 Capltal expendlture authorised but not contracted for
3 Leasing payments - due In the next year
4 Leasln8 payments- due In two to flve years
17,267
30,869
14,005
29,367
15 STATUS, BRANCHES & CONNEcfED CHARITIES
The ch3rlty Is a company Ilmited by guarantee and a reg15tered charlty. The liablllty of each member
Is limlted to £10. As at 31st October 2024 there were 77 members131.10.23 771.
The company Is re8lStered wlth the Charlty Commission as a charity (number 10620751 and 15
exempt from taxation In accordance wlth Section 478 of the Corporatlon Tax Act 2010. It has no
branches and no other charities are connected to It.
17

CMC: PENSARN HARBOUR
DETAILED INCOME AND EXPENDITURE ACCOUNT luNRE￿RI￿ED FUNDS)
for the year ended 31st October Z024
3111012024
31/10/2023
INCOME
Course & PFostel fee5
Tuck shop- net proflt I Ios5
Rental & Hlre Income
Interest ￿CeIved
Donatlons & Glfts
317,692
393
1,620
651
78.191
398,547
312,380
231
1,620
iio
89,928
404,269
EXPENDITURE
Course / Actlvlty costs
Course l Equlpment / Repalrs
Course outln8S
Instructor stsff tralnlng / expenses
Vehlcle expenses
Vehlcle hlre
Llcenslng
Actlvltles Staff Salarles & NIC
Freelance / Assoclate Instructors
3,603
1,108
13.532
8,682
11,662
2,849
42,576
14,985
9,195
1757
7,321
14,585
3,152
105,800
4,410
98,997
154.660
Hostel l Base Overhead Costs
Base staff salarles, NIC & Penslon Contrlbutlons
Mortgage / Bank Loan Interest
utllltles (Rates & Waterl
General Insurance
Ll8ht & Heat
Telephone & P05t
Offlce Expenses
Recrultment Advertlslng
Profes51onal Fee5
Trustee5' Expen5e5
Property Upkeep - Repalr5
Property Upkeep - Cleanlng
Property Upkeep . Equlp / Malnt / Replacement
Customer Servl¢es . Food
Customer Servlces- Laundry
Flnance - Bank Charges
Flnanclal Fallure Insurance
150,964
20,937
4,550
18,263
31,304
4,464
3,145
1,050
3,870
135,937
20,319
3,569
12,496
21,455
5,091
8,203
180
iiioo
10,733
980
1,033
30,396
6,554
2,177
2N36
9,957
1,300
1,081
8,756
1,593
3,081
292,856
271589
Depreclatlon
Property
Course Equlpment
General l Offlce Equlpment
Motor Vehlcle
7,247
21,454
7,153
20,691
2.647
28,701
410.554
30,491
457,740
Fundra151n8 & Publlclty
Webslte
Brochures & Prlntlng
Advertlslng, Exhlbltlon5 etc.
1,628
1.634
718
1,628
422,182
2,352
460.092
SURPLUSI DEFICITON UNRESTRicfED FUNDS
before transfers
Less Transfers to l From Restricted Funds
TOTAL SURPLUS I DEFICIT ON UNRESTRICTED FUNDS FOR YEAR
after transfers
-23.635
92200
-55.823
49,654
68.565
-6,169
18