CMC: PENSARN HARBOUR (Limited by Guarantee) FINANCIAL STATEMENTS for the year ended 31st October 2025 (Unaudited Company No: 03324934 (England and Wales) Charity No." 1062075
CMC: PENSARN HARBOUR {Limited by Guarantee) FINANCIAL STATEMENTS for the year ended 31st October 2025 (Unaudited) Contents Page Company Infomiation Report of the Dirertors and Trustees Independent Examinerfs Report Statement of Financial Artivities 8alante Sheet Note5 to the Accounts 2tolO li 12 13 14to18 Detailed Income & Expenditure Account not part of the statLrtory financial statements 19
CMC: PENSARN HARBOUR Directors, and Trustees, Report for the year ended 31st October 2025 The Director5 and Trustees presenttheir report and accounts for the year ended 31st Oct-2025 Reference and Adminlstratlve Informatlon Charit Com Name CMC." Pensarn Harbour Tradin Name CMC Adventure Com an Number 03324934 (England and Wales) Charit Number 1062075 Re istered Office and O erational Address Pensarn Harbour Llanbedr Gvrynedd North Wale5 LL45 2HP Directors and Trustees P R Kelly - Chairman L Charker- Hon Tret75urer {untt126/04/25 replocemtnt yet to be appointed} C Cook G French A Houghton A Sanders P Tarr R Gibbin5 Chief Executive Centre Dirertor M Downey Com an Secreta L Addinall Bankers HSBC Bank plc 62 High Street Porthmadog Gwynedd LL49 9LN Inde endent Examiner S L Glass FCCA 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 Uanbedr, in January 1998. The trading name of "CMC Adventure" was adopted in November 2013. Recruitment and A ointment of Directors and Trustees The director5 of the company are also charity trustees for the purpose of charity law. Under the requirements of the Memorandum and Articles of Association, the director5 are elected to serve for a period of three years, after which they must be re*lected at the next Annual General Meeting. The Board has a broad skills mix, including business, financial and educational skills. In order to maintain thi5 range, individuals are approached by the Board and invited to volunteer. They May be drawn from the members of the cornpany, for which a voluntary skills register 15 maintained, 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. Note: atthe date of this reportthere was notreasurerofFicially in place. However, discussions were in progress with someone actively interested in taking on the role. Trustee Induction and Trainin Potential trustees are usually familiar with the work of the Centre from having stayed there previously, or having visited the Centre to familiarise themselves with it. They are, normally, invited to attend at least two Board meetings, in person, as observers. This gives them an opportunity to see the work of the Board at first hand and to gain an understanding of how it works and of current i55ues. If they and the Board are satisfled 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.
CMC: PENSARN HARBOUR Strurture Governance and Management 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 activitie5 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 visitors 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. 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 addition 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 meeting5 of the Board. All Board members are notified of such meetings, which support the Centre Director / CEO and monitor financial 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 rnembers. Objectives and Activities 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 among such persons and their families. The objective for the year was to provide high quality outdoor educational experiences 5uperwsed by qualified and experienced staff working as a Christian community. It continues, for the tlme belng, to only use the Bryn-y-moel site for guest accommodation. The Centre was once again keen to ensure that vlsltors 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 15 sometimes possible to adjust fees in cases of particular need. The Trustees feel that this enables them to have due regard to the public benefit guidance published by the Charity Commission.
CMC: PENSARN HARBOUR Structure Governance and Management We set out to continue our policy of budgeting for a modest surplus, although in the current flnancial climate and, whilst using just one 51te for accommodation, this is proving to be extremely dlfficult. A forecast is agreed however from which regular monitoring takes place. We continue to make use of the Financial Failure Insurance, which enables us to hold deposits within our working balances. When circumstances permit. we will continue to work towards building necessary working capital. Achievements and Performance We are continually thankful for all the sUPPOrt we receive throughout the year, which was so very important during 2025. Atthe 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 wa5 drawn to the attention of the Members. The response to this was both incredible and humbling. As a result of the subsequent donations, by the end of October 2025 it had been possible to reduce the loan on Bryn-v-moel by approximately £180,000- a staggerlng demonstration of sUPPOrters' generosity. This and other both small and large donations for specific items have been so very encouraging. In addition, the team have worked incredibly hard to run the centre and its courses on the tightest of budgets. At the same time, they have been offering to guests the welcome and hospitality which are so often commented on in groups, feedback reports. 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 contlnue 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 results wtll be priceless to the individual, their families and friends. Thank you for your involvement and continued Interest. Bulldlngs 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 electrlcians, plumbers and general builders. This work has been coordinated by our Senior Staff. As standards and qualifications continue to increase, we are less able to 'do it ourselves,, hence becoming increasingly reliant on external trades.
CMC: PENSARN HARBOUR Structure Governance and Management Where necessary and where we were able. we continued to repair, replace, and malntain outdoor equipment to a high standard. Bookings and Finance During 202412025 there was an improvement in overall group bookings. However. as with recentseasons, the numbers of young people in those groups remained lower. In some cases. the cost of living continue5 to impact families and their ability to fund residential trips for their children. We have encouraged school and other groups who have been subsidised by CMC to seek local funding to support their visits., so that the financial burden of subsidy on CMC is reduced. We have received an amazing amount of financial support from our friends and member5 during the last year. We have been encouraged by an increase in regular monthly giving, which makes financial planning easier. We begin the new financial year very aware of how much we need this to continue in the future. Some of these generous donation5 were restricted to reducing the mortgage on our Bryn-y- Moel slte. This was a need that as Directors and Trustees we felt led to share at our AGM weekend in April 2024. By reducing this liability, we aim to improve our monthly cash flow. At the date of this report the reduction in monthly loan repayments had significantly helped our cashflow, and we anticipated further improvement in this area, once the mortgage had been fully paid off. (NB-this was paid off in full on the 30112125 because of a very generous restricted donation) Actlvltles and Publlc Benefit We have continued to run our volunteer trainee instructor programme. This provide5 an opportunity for young people to gain valuable industry experience and obtain National Governing Body awards allowing them to pursue a career in outdoor education not only in the UK but around the world. 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 encouragingto 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 involvement greatly. Future Plans The redevelopmentat Pensarn, giving us increased capacityand the abilityto workwith larger groups will give us much greater flexibility over accommodating other smaller groups at Bryn y Moel. The scale of the redevelopment at Pensarn means that we will need to find trustees / consultants with experience of complex projects and with the financial experience to match.
CMC: PENSARN HARBOUR Strurture Governance and Management Fundraising for the harbour project is a major challenge. The trustees have discussed engaging professional help with fundraising and have engaged consultants who have provided a lot of information about statutory and charitable funds and trusts which mlght support the project. However, it is clear that we need a significant amount of capital already donated or pledged before many of the fundswill considersupportinB the project. Atthe time of this report there is no clear avenue to finding the donor or donors who might back the project with a large Initial donation. Although it will cost a significant amount, engaging a professional fundraiser may well be the path we need to consider. It is vital for the project that we find these initial funds in the next twelve months. This needs to be a focus for research by the board. and ra er from all our su orters. Personnel The Directors / Trustees are very mindful of the extraordinary pressures the staff team have had to cope with, and continue to cope with, in Maintaining the high standard of serrfice for which CMC is known. A number of our trainees have come through to be qualified full-time instructors, which helps enormously in the planning and delivery of activity programmes. The Trustee5 are immensely grateful for the sacrificial commitment to keep CMC going displayed by the team over the last year. Flnancial Review Financial Performance Reflecting all of the pressures and constraint5 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 on unrestricted fund5 of £75,652 and a surplus on restricted funds of £75.816 (totalling £151,468, compared with a Surplus of £67.477 in the prior 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 financial implications of the financial crisis, combined with 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 looklng continually more precarious whilst working from just one site for guest accommodation and experiencing ever increasing costs. Ourfuture depends on the development of Pensarn Harbour and remaining financially secure until then. During the year we were blessed with other specific donations in addition to those already mentioned for the sole purpose of reducing our Bryn-y-moel loan. These included gifts
CMC: PENSARN HARBOUR Structure Governance and Management towards our Bereaved Families Holidays, fund raising costs for the Pensarn Harbour Redevelopment, Engineering reports for the afore mentioned redevelopment, towards the replacement cost of a fleet of new Canoes, to cover the HMRC bill for August. We continue to be so grateful for all the various actions of support received. In addition we continue to benefit from a number of significant working capital loans which have been extremely beneficial in assisting the Centre's day to day financial viability. The Enable Fund, which was launched with the purpose of covering the cost of subsidies to individuals and groups who would not otherwise have been able to afford to stay at the Centre (see Objectives and Activities above}. was 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 frorn all that the Centre has to offer. As well as the school mentioned above CMC has subsidised a number of other groups who would not otherwise have been able to come. These subsidies have totalled just over £65,000. The vision 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 decade5. 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 will ensure CMC Adventure becomes sustainable financially. However, the rea50n 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 agaln, during the last year, we have been blessed with significant restricted and general fund donations, and we continue to benefit from 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 loan5 to take over from those supporters who require theirs to be repaid. Until we can reopen Pensarn and enjoy the economies of scale that increased accommodation wlll bring, we will continue to actively seek the financlal and charitable support we need to persevere, whilst prayerfully believing our needs will be met. ..as we have opportunlty. let us do good to ollpeople ..." Galatians 6..10
CMC: PENSARN HARBOUR Strurture Governance and Management Reserves The Trustees, policy continues to be to build up net current assets to the point where thev are equivalent to two months, worth of expenditure, currently approximately £70,000. However, at the year end there were net current liabilities of £75,137 which compares with net current liabilities of £80,031 in the previous year. As reported above, the Board is aware of the gravity of the Centre's financial position and is endeavouring to seek ways to improve this position. Ca ital fundln 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 £62.048 outstanding on this loan, which has subsequently been fully discharged. Private, interest free, loansfrom members have been accepted in the past to provide working capital. The total sum of interest free loans is £95,000 to assist with cashflow. One loan of £25,000 is due to be repaid in Spring 2027; also. one loan of £5000 to be repaid in Autumn 2026. Tan ible fixed a55ets Details of acquisitions of fixed asset5 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 cost5. 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. Future obli ations The company has no liabilities. commitments or legally binding obligations outstanding atthe 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 / Dlrectors The directors of the company for Companies Act purposes are its Trustees. The directors who served during the year are listed on page l.
CMC: PENSARN HARBOUR Strurture Governan and Management Statement of Dlrectors, / Trustees, responslbllitie5 Charity law requires the Directors/Trustees to prepare financial statements for each financlal 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 observe the methods and principles in the charities SORP 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 fjnancial statements: and prepare the financial ststements on the going concern basi5 unless it is inapproprlate to presume that the company will continue to operate. The Directors / Trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy, at any time the financial position of the cornpany. 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 Dirertor5 acknowledge that risk management, for Business activities, is the responslbility 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 risks have been adequately mitigated. The review is ongoing. All Directors / Trustee have access to CMC'S online risk map at all times. Independent Examiner S L Gla$5 FCCA of DJH Nantwich Limited (Chartered Accountants and Registered Audltors}, who serves as our Independent Examiner, has expressed her willingne55 to continue in office and a resolution to reappoint her will be proposed at the forthcoming Annual General Meeting on 25th April 2026. 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.
CMC: PENSARN HARBOUR Structure Govemance and Management Approval of these flnanclal statements These annual statements were approved by the Trustee5 on 14th March 2026 y order of the Board P R Kelly (Dlrector& Trustee) Registered Offlce: CMC Pensarn Harbour CMC Pensarn Harbour Llanbedr, Gwynedd, LL45 2HP 10
CMC: PEN5ARN HARBOUR Independent examiner's pOrt To the Trustee of Pensarn Harbour report to the trustees on my examination of the financial statements of Pensarn Harbour (the Charityl for the year ended 31 March 2025. Responsibilities and basis of report As the trustees of the Charity land also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 {the 2006 Att). Having satisfied myself that the financial statements of the Charty are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examin3tion of the Charitvs financial statements carried out under section 145 of the Chafities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the Charities Act 2011. Independent examiner's Statement Since the Charitvs gross income exceeded £250,QX)O. the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 1 confirm that l am qualified to undertake the examination because l am a member of the A%sociation of Chartered Certified Accountants. 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 that in any material respect: accounting records were not kept in respect of the Charity 35 required by section 386 of the Companies Act 2006. the financial statements do not accord with those records- or the financial statements do not comply with the accounting requirements of settion 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as Part of an independent examination,. or the financial statements have not been prepared in accordance with the method5 and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statement5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. 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 financial statements to be reached. S Glass FCCA DJH Nantwich Limited 17 Alvaston Business Park Middlewich Road Nantwich CW5 6PF Date.. 13. 3.26 li
CMC: PENSARN HAR80UR STATEMENT OF FINANCIAL ACTivmES (Indudlng Income & ExpendltureAccount) for the year ended 31st October 2025 Unre5tritted fund5 Restricted General Funds Funds Totsl Totol Funds Funds 31110125 31/10/24 Income and endowments from: Donations and legaoes Income from investments Tuck shop tradlng income 60.995 170.752 231.747 706 2,243 169,303 651 1,459 2.243 Charitable actlvitles Course and hostel income Residential Non-residential Net rental and hlre income 2.2 314,313 15,372 1.120 314,313 15,372 1,120 295,693 21,999 1.620 Total Income and endovmients 394,749 170,752 565.501 490,725 ExpendFture on ralslry funds Publicity costs Tuck shop tra(Jing costs 1,823 1,426 2,280 4.103 IA26 1.628 1.066 Expenditure charilable actmtles Course and h05tel running costs 3.2 406.364 2,140 408,504 420.554 Tolal expendlture 409,613 4,420 414A)33 423.248 Net Income l-expendlture before trnnsler5 -14,864 166.332 151.468 67,477 Transfers between funds 90.516 -90,516 Net movement in fund5 75,652 75.816 151.468 67,477 Fund balances b/fvid at 1.11.24 671,481 3,287 674,768 607.291 Fund balances clfwd at 31.10.25 747.133 79,103 826,236 674, 768
CMC: PENSARN HARBOUR 8AiANCESHEEfas at aty O¢tob8r 2025 311101202S 3yio/2024 Tanalblg Flx8d A55ets 989.104 992251 Current Assets Stock t>ebtors and prepayrnents Cash at bank and in hand 3.156 9A90 77,248 89.894 3,582 82 4,580 14.544 Uabllltl•s'. Amomts falllrq du• wlthln ywr -165A131 .94.575 N•tuJrr•ht 15s•ts/-Ilabllltles -75J37 40.031 Total 4w¢ts1¢gs¢urront Ilabllttl 913.967 911220 Uablllfl8s: AmouAtsf3111r¥ dueafter morn oneyear -87.731 -237,452 Ngt ass9ts io 826,216 674.768 Unre5tr1rted fvnds li 747.133 67L481 Rè#rfrted lunds 3,Z87 Total charityfunds 826236 674,768 These accounts are prepared in accordance woth the prSlOn$ appIlble to companle5 sublert to the small companles SIme. Foi theyear dIn6 315t Ortober 202S the company Is entyued to exemptfjon from audrt undersection 477 of the CDmpanle5 Act 2006 relatln8 to sm311 companies. No mernber5 have required the companyto obtain an audit of the finandal 5tstements for the year ended 3tst(ktober 2025 In accordance wlth secuon 476 ofthe Companres Art 200& The Dlrèttors acknowledge thelr reSpjnsl1lty for complytng wlth the re8ulattons of thecornpanies Act 2(X)6 wlth respert to aCcounn8 re£oTd5 and the weparation of accoun ON BEHALF OFTHE BOARD Approved by the Board ofTrustees IDirectsrsl and SI on its behaw on 14th March 2026. PRKel Dirertor &Trustee The notes on pa6es 14 to 18 forn7 part oftht5e finandal ststemenrs.
CMC: PEN5ARN HARBOUR Notes to the accounts forthe yearended 31st Ortober 2025 I ACCOUNTING POLiaES 1.1 Basls of preparatlon of a¢¢ounts The acc(Junts are prepared under the hbtorical cost convention and include the results of the charfty's operations which are described in the Directors, and Trustees, Report and all of which are rontlnuing. The accounts have been prepared in a¢cordan¢e wtth the Charities Act 2011 and the Companies Act 26. FRS 102. The Flnancral Reporting Standard applicable in thè UK and Republic of Ireland and the Statement of Recommended Prartice.. kcountin8 and Reporting by Chartues IFRS 1021. The accounts arè prepared in sterlin& whlch 15 the fvnciional cUencY of the charfty. Monetsry amounts are rounded to the nearest £. The trustees considerthat therè are no material unrtaIntieS that may cast signlficant doubt on the charity's ability to continue as a going concern. The tharity is a public benefit entity. 1.2 Tangible fixed assets and deprKiati¢>n Tangible fixed assets are ststed at cost le55 depreciation. Fixed assets are not capitalised where the purchase cost is below £Sm. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less thelr estimated residual value, over their expettèd useful live5 on the following basis- Freehold Property Nil12% straight line basis pdor to l.11.20021 Course Equipment 25% Strarght line bas1S Fixtures, Fittings & Equipment 25% straight line basis Motor vehicle5 2(PA straight line basis The Centre properbes are operational assets according to charfity law, being fundamental to the ongoing work of the Centre. As they a continually maintained to a high standard of repair, the Trustees consider it unnecessary to set aside any further sum by way of depredation, as thls would represent an excessFve charge forthese properties in the finanaal year. 1.3 Value added tax CMC continues to be an educational establishment under VAT regulattons. It thefore remaln5 exempt from VAT, which is not recoverable and as such is included in the relevant costs In the Ststement of Financial Attivtties. 1.4 Stod( Stock is valued at the lower of cost and net realisable value. after makir6 due allowance for obsolete and slow moving items. 1.5 Debtors Trade and other debtors a recogn15ed at the setdement amount due after any trade discount offered. Prepayments are valued at the amount prepaid. 1.6 Uabllltles abllitie5 a reco8nised where the charity ha5 a present obligaljon resulting from a past event that will probably su In the transfer of funds to a third party and the amount due to settle the obligation be measured or estimated reliably. knabilities are nomially re£ogn15e(l at their settlement amount after allowing for any trade discounts due.
CMC: PENSARN HARBOUR Notes to the a¢¢ounts for the year end•d 31st Ottober 2025. ConL 1.7 Oper*lng lease5 Rentals paid under operatlng lease5 are charged to the income and expenditure account as they fall due. 1.8 Funds Unrestricted funds are available for use at the discretion of the trustees in fvrtherance of the general objectives of the charity. Restricted funds aro subjetted to restrictions in their expenditure Imposed by the donor or through the terms of an appeal. The main fund held by the charity Is the General Fund lunrestrittedl. 2 INCOME AND ENDOWMEPIts 2.1 Voluntary income and donations a accounted for as receNed by the charlty; they are generated by providing Information about the work of the centre to Its w5itor5. SUPPOrters and the general public by means of printed and electronic publlcations. No permanent endowments have been receNed in th55 finandal period, but these are dealt with through the Statement of Financial Actswties when receNed. 2.2 Course and hostel income is shown gross after adjustments for deferred income relatin8 to deposits forfuture courses. 3 EXpENDuRE 3.1 Expenditure on raising funds includes the costs in¢urred in purchasing Items for the Tuck Shop lincludlng souvenirs), which are then sold on to visitors and friends, and the cost of fundraising and publrcity, through whlch donations are generated. 3.2 All other costs. including governance costs and support ¢OSts, a allocated to the one charitable activity which 15 the running of courses at the hostel at Pensarn Harbour and the premises at Bryn-y-moel. Included are fees to the independent examinerof £1,98012024- £2.4QJl re the examlnatlon and £NIL12024- £1.3801 re the orher service5. 4 TOTAL EXPENDtruRE Staff Costs Depreciation Other Costs Total Totul 31110125 3UIO/24 Course & hostel running costs Tuck shop trading costs Fundraising & publictty 207.505 21.458 179.541 1.426 4.103 408,504 IA26 4,103 420,554 1.066 1.628 12 months to 31.10.25 12 months to 31.10.24 207.505 193.54Q 21,458 28.701 185,070 201.7 414,033 423.248 Note: The Tuck Shop trading unit is operated as an ancillary factlty at the Pensam Hostel for the benefit of users and any proffts a all ploughed back into the mainstream aCtIty of the company. 5 STAFF COSTS & TRUSTEES EXPENSES 5.1 Staff costs comprised 31110125 31/10/24 Wages and sa13rfe5 S¢xial security costs Pension costs * 190A51 175,965 9,481 8,094 193,540 ,611 Z07.505
CMC: PENSARN HARBOUR Nole5 ¢0 the accounts lor the year ended Ylst Ortober 2025. ConL • Note: The charity operated a defined contribution scheme for three staff costlng £4,238 in the year. In addltlon the charity contributed to a personal pension plan for five employees at a cost of £4.373 in the year. It is anticipated that payments will continue at the same rate during the comin8 year. No employee eams more than £60,LXXJ. The average numbef of stsff empl¢)yed by the charity durlng the year was as follow5- 3VIons 31/10/24 li 13 Charitsble acrÈvltles Fundraising and publicity li 13 The key management personnel of the charity are the trustees and the Chief Executive Officer, together wlth the Senlor Instructor. Development Director, House Manager and Centre Admin15trator. The total employee beneffts of the key management personnel was £125.10212024= E95.2201. 5.2 No remuneratlon or expenses were paid toTrustees in the period. 6 TAP4GIBLE FIXED ASSETS Freehold Course Centre Property Equipment Fitbngs & Pen5arn & equip. Bryn-y-moel Motor Vehicle5 TOTAL 81fwd 1.11.24 Additions Less.. re DFsposa15 973.177 11,280 126.192 4.699 274.358 2.332 14.000 1,387,727 18,311 Carried Fonward 31.10.25 984.457 130,891 276,690 14,0(h) 1,406,038 Depredatlon Blfwd 1.11.24 Charge for the perfod Less.. re D15posals 25.041 115,381 6.324 241.054 15.134 14,0(J) 395,476 21,458 Carried Fon¥ard 31.10.25 25.041 121.705 256,188 14.¢X 416.934 Net book values At 31.10.25 At 31.10.24 959.416 948.136 989.104 992,251 10.811 33,304 Footnote..
Work has been commlssl¢)ned regarding the upgrading/ modemisation of Pensam Harbour.
These costs, which are currentty being met by specific donètions. have been capitalised. Further spendin& enhancing the value of the buildings. is highty likefy. 7 STOCK comprise5 31110125 3uion4 Goods for resale ITuck Shopl Food Cleaning materlals Brochure5 177 194 1,097 662 200 1,429 3,582 599 1.622 3.156 16
CMC: PENSARN HARBOUR Notes to the accounts for the year ended 3tst October 2025. ConL 8 DEBTORS & PREPAYMENTS Oue within one year Trade debtors Prepayments Other debtors 4.253 4.611 626 858 3.38S 2.138 9A90 6,382 31110125 3yIO/24 9 LIABILtFIES: Amounts fallln8 due wlthln one year comprf5e- Bank overdraft Trade creditors Customers, monies hdd Accruals and deferred income Bank 25 year paYment tnortga8e Workin8 capital loans Bounce Back loan 31.344 3N04 22842 7,890 62.048 31.S(K) 5.903 165A131 771 2,539 42,750 8.556 27,702 6.500 5,757 94,575 after more than one year 25 year repayment mortgage WorknnB capital loans Bounce Back loan 118.752 90,000 28.700 237,452 65,000 22.731 87,7ai Footnotes.. l. Deprjsits are no lor6er held in a separatety designated bank account. but combined into the main account forthe centre. Financial failure insurance was tsken out in November 2017 to reflect this new policy. 2. The bank mortgage is from HSBC Bank plc and is secured by a debenture and legal ¢harge on the company's freehold property at Pensarn and Bryn-v-moel. During the year, following an appeal to our members, it was possible to rèpay £63.31)J of this loan. Further specific donatlons enabled the final repayment of the mortgage in December 2025. so the balance at 31st Ottober Is treated as 4 Current 3. Private Interert free Igans from members have been accepted In the pastto provide working capltsl. At the start of the year one loan totslling £5() wa5 to be repaid in the year.. in the event this loans was not repaid. now due to be paid Autumn 2026. One further loan is due to be repaid In Spring 2027. 4. In 2021 advantsge was taken of the Govemmenvs Bounce Back Loan of £50.LM)O. Thls w35 interest free for the first year. Repayments stsrted in December 2021. It Ls repayable after 10 year5. The liablllty shown indudes £NIL due after 5 yea.{2024- £4.1961 10 ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible Fixec Net current Lon8 term Assets 55ets I liabilitit loans 3VIO125 31/10/24 Unrestritted- general fund Fiestricted funds 989.104 -154.240 79.103 -75.137 -87,731 747.133 79,103 826.236 671.481 3,287 674,768 989,104 -87.731 11 UNRESTRICTED FUNDS Movements on these durtng the year were a5 follows.. Asat Income 3V10124 Exp Inter- fund Transfer5 3VIO/25 General Accumulaied Fund 671,481 394.749 4109,613 90,516 747,133 Total Unrestrlcted Funds 671.481 394.749 409,613 90,516 747,133
CMC: PENSARN HARBOUR Notes to the accounts for the year ended 315t ortober 2025. ConL 12 REsfRicfED FUNDS Movements on these during the year were as follows: A5at Income 31110124 Inter- fund Transfers Asat 31110125 Equipment Purchase Fund Specific Running Costs Fund Fund Raising Costs Fund Websr(e Rerrtake Fund Future Oevelopments Deslgnated Fund Mortgage Reduct(on Fund Bereaved Families Hollday Fund 3.125 2,140 5.98S 3.375 939 10.5C 3.750 143.500 -3.375 -339 1,680 -3.750 -81,162 -1.890 162 62.SOO 1,798 3.287 170.752 4.420 -90,516 79.103 The Equipment Purchase Fund represents donations r&ceNed to ftjnd specific costs. During the year funds were received forthe purchase of new canoes. The donation reiVed in a previous year for mattress placement has been largew spent on bedding and mattresses with the donor's agreement. The Specific Runnlng Costs Fund represents donations CeNed for particular expenses. During the year funds We received to assist with PAYE liabiltlies. The Fund Raising Costs Fund represents donations received to coverthe cost of fvndraising consultants, etc. The Website Remake Fund represents donations recerved towards the the webstte- only a £1.680 deposit was spent by the year-end. The Future Developments Designated Fund represents donation5 towards the upgrading I mcdernjsa0n of Pensarn HarboLtr. Further monies of £3,750 were received in the year. Equivalent costs had already been spent and are included within the capitalisation costs shown at 6 above. The Mortgage ReduLtion Fund was set up to receive donations made specifically with a wew to rèducing the bank mort8age- a substantial amount was paid off the mortgage in the year, with the remainder cleared soon after the year-end. The 8erea¥ed Familie5 Holiday Fund represents donations received towards the Bereaved Familie5 holiday5 in August 2025 & August 2026. 13 RELATED PARTY TRANSAcnoNS Donations received without conditions from the trustees and other related pae$ totalled £5.861 and those wlth conditions totalled £92.950 (Totsl recetved in 2024- £75.6801. 14 CoMMMENTs Total Totol 31110125 3yIO/24 I Capital expendlture authorised and contracted for 2 Capltal expendthre 3Lrthorised but not contratted for 3 Leasing payments- due in the next year 4 Leasing payments- due in two to five yea 8,OIM) 27.278 52,654 17.267 30,869 15 STATUS. BRANCHES & CONNEcfED CHARMES Thè charity is a company limited by gyarantee and a registered charity. The liability of each member is limlred to £10. As at 31st October 2025 the We 80 members131.10.24- 771. The company is registered with the Chartty Commission as a charfty (number 106207513nd 15 exempt from taxatlonln accordance wth Section 478 of the Corporntion Tax Act 2010. It h35 no branchè5 and no other chaiities are connected to iL 18
CMQ PENSARN HARBOUR DETAILED INCOMEAND EXPENDITURE ACCOUNTIUNRE51WCfEDFUIIDS) forthe year end•d 31$1 Ociober3015 3tyW2025 3y2ty2024 IP4COME Course & h05t21 fee5 Tk shop- net prDfitI Ioss Rental & hore income InltrÈst received Donations & wfts 319,685 817 317,692 393 1620 651 7&191 394547 ,995 EXPENDITURE CtsursE /ACti7tyCoSts Course eqUIpmentpairS & renewals Course oufjnqs Instructor stsff trainlng & expenses Vehiclè expènses VehIe hlre AC)lIeS IIcenn8& subsulptions Actsvities stsff 53laries, NIC & pensh)n contribiitims Freelan IAssotiètÈ Instructors .rn L787 4603 32 14743 487 54074 IL652 zoio 42.576 14,985 98.158 H05tr11 Base (erheadWsts ase Strff salaries, NIC & pen51on contrfbutions Mortgage 18ank108n interÈst utilities (water & sewaoel General insurance ti8hL heat & power Telephone & post B3se licensing & sub5uSptions Offite & computer expen&e5 RecruftmentadvertlSin8 Profesgonal fees Trustees, Èxpenses Property upkeep- repairs Property upkeep-cleani Propprty upkeep-equipment malntrnèr Customer serYlces- foL Customer seNices- laundry Fittantt - bank charges Flnancial lailure insurance 431 Q964 2Q937 4.550 14263 31304 346 ty9 14067 755 3.145 1050 3.870 10.733 411 1033 96 6554 zir/ 2.436 L653 1799 J.695 Depre(l•tlon PropÈrty Course equlpment Gener31 Ioffice e4u(pment Motorvehicle &324 7.247 ZJ,454 2L458 4)&364 24701 42QS54 Fundrnlslng& Publldty Website Brochures& prlnUA8 Con5ultsncyt etc. Athrbsin& exhlblbons. etc. 1.628 1,628 4C4187 42Z,182 5URPiUSI O£FICoN UNRESTRICTED FUND5 bÈfore transfers Transfers from/to Restricted Funds .21&95 912 •JJ TOTAI 5URPLUSI DEFiaT ON U14RE¥fRICTED FIIMDSFOR YEAR after translers 75,652