Adventure BF Adventure (A COMPANY LIMITED BY GUARANTEE) Charity number: 1071862 Company number: 3546772 TRUSTEES. REPORT AND CONSOUDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Adventure BF NAveniure Annual Rew)rt 2024-25 Company NumI￿r 3546772 Contents Heading Page ReferwKe and admini5tr*Ne w)formati Trust￿, rerK Audltors reKx)rt to the tr 16 Statement of finanaal activitr.es 21 Balance **et ststement of cash fkJw5 25 Notes to the financial statements 26 Adventure BF Adventure Annual Reix)rt 2024-25 Company NUrnt￿r 3546772 Reference and Administrative Information Charity number 1071862 Company registration number 3546772 Business address Goodygrane Activity Centre Halvasso Longdowns PENRYN TRIO 9BX Registered offi Goodygrane Activity Centre Halvasso Longdowns PENRYN TRIO 9BX Trustees (on date report approved) David Wingham (Chair) Deborah Osborne (VI￿ Chair) Hilary Beechey Laurence Osborne Henry Maples Simon Tregoning Heidi G￿nIster Sarah Corbridge Jason Phillips lonathan Angilley (App)inted 3010412025) Secretary Mr A Richards Chief Executive Mr A RId￿rdS Adventure BF AdV￿ttlre Annual RerK)rt 2024-25 Company Number 3546772 Auditors TC Group Vwian House Newham Road Truro TRI 2DP Bankers Barclays Bank PLC 14 ￿ng Street TRURO TRI 2RB Solicitors Murrell Associates LLP 14 High Cross TRURO TRI 2AJ Adventure BF Adventure Annual Rep￿rt 2024-25 Company Nurn￿r 3546772 Chair's Re ort The demand for our seNces continues to grow, with the charity supporting more than 5.(Kxl children and young people over the past year. Amng them. over 800 face mults.ple disadvantages and have benefited from our specsalist, longer-term supFrt)rt. This supp)rt helps them navigate challenges suth as learning arKJ Fthyscal disabilitses, behawoural diffi0j￿Ie5, mental heath issues, and the w*Jer inwarts of adverse childhood experien￿. Comwall CcNJncil has set out o vision of makiThJ C¢ynwall -a brilliant place to ￿ a child and grow up." For many, this reflects realty. The county offers Stunning coasdines, moorknd, and wcthland, providing families Opp￿jnIkn.es to enjoy out0￿r act"vitie5 and quality time t(yJether. However, those working dO￿lY with familie5 in rwj are acutely aware of a stark imbalance beneath this pirture. Around 30% of children in Comwall Irve in poverty, and 70% of these chikJren are in housthlds whtre parents are bwJfkJ"ng. Comwall ranks among the most dyived county counol areas in England, with 17 neighbourhoods falling wthin the most deprived nationalty. Dwi(e this, it recetves £17 million less in funding than the national average. For many families, the counvs natural assets remain out of reath due to barriers wch as cost, transFMYt. time, and limited resources. Poverty has a profound effect on children's well￿"ng and astHrations. Dats from NHS mentsl health suNeys indicates that more than a quarter of chiklren experienong mental health difficults'es live in households unable to afford extracurricular ￿tiVitIes, compared to one in ten mong their peers without such thalleThJes. whi￿ every child has a fundamental right to health and wellbeing, this ts r￿t yet a reality for many in Comwall. Against this backdrop, we remain focused on strengthening the reath and impact of our work. Despite risng costs and an Increasing￿ d)allenging fundiw environment, this has been a pr(Kturtive arKi rewarding year. (Xjr team expanded to a record 55 staff members during the summer, allowing us to SUPPOrt even rrore children and young Feople through transfomiative outdoor experiences. We have also extended our reach into the east of the county, securing ac￿5 io Cornwall Scouts, Nine Ashes Artivity Centre. This has enabled us to engage with and sUp￿rt Young people from areas we have rK)t prLMoLLsty t*en able to reach. All of this undetrlines t#)th the ccrtinued for (wr seNKes and the financial pr￿ureS facing the settor. We remain deep￿ apyeciab.ve of the dedication and support of our staff. trustees, volunteers, and partners. Wh(￿ collethve efforts conb.nue to make a meaningful difference in the 5ives of so many young pwle. David Wingham - BF Pthenture Chair of Trustees. Adventure BF Adventure Annual Re[￿ 2024-25 Company Number 3546772 Ob-ectives and Mission 'Inspinng, challenging and molivatingpeople, especiallyyoungpeople, to develop their life skills to bnng aboutKvsitive change- Background: BF Advertture ￿ a Comwall-based tharity dedicated to improMThJ the qualty of hfe and engogement in sc(iety for young people and adults through the medium of behavioural and motivational supwrt, focus5ed youth w￿. measured Outco￿ and OLrtd¢y)r artiwty. The charity was estsblished in 1989 by a group of individuals who reccrfjnised the pY)tential of using the outdoor envIr￿rnent to FK)gb"vety Influen￿ the physcal and mentsl wellbeing of children and young peop￿. BFA works wrch statutory trthies. voluntsry arKI ￿vate sertor organisabons COncen￿d wth the well- being of young peoF4e. parb"cularW those disadvantaged through 9)oal deprivation, physical and mentsl disability. and behavi(wJral arMJ l or ￿rnIng difficultie5. While this core charitsble work repr￿erts 75% of BFA'S throughput. the actiwty centre is also popular w￿h school groups workn"r¥J mulb.ple kTrl ￿(x)IS arKI academie5 and with youth gmups such as the Gu￿S and ￿uts In Juty 2020 the charty L4unthed its dedicated tr*ting ami - Via Ferrats Comwall C.l.C. Offering a unique Wia Ferrata ae(ivity and a range of other ￿te-baSed activib'es to families and individuals Iboth locals and visitorsltourists), external groups, and businesses (for corporate team building activities). The profits generated fr￿￿ this non-charity work syill be used to support the Charitsble OFeratiorkS a￿1 development of BF Adv￿ttlre. Activities offered by BFA include basic woblem sofviThJ, canc*ing, abseiling, climbing, swimming, snorkelling, kayaking, archery, orienteering. bushcraft and suNval skills, (amping, expedit¢on planning, zip w￿, raft ￿ik￿lng. nature trail and independent living sknlls {budgetr'ng, ccx)king, planning, job search skills. ￿, basic numer3cy and literacy). Where pO￿lble and appropriate these ￿ti￿tieS are embedded into acuedited programmes at GCSE / GCSE level. While, as a priorty, maximLJm use is made of the outd(x)r classr(x)m, ind(x)r artivity and prd)1em-%)￿"rrfJ space is utilised tx)th during wr weather and in(rea%ngly to address wider educational, key arKI other"soft" skills. and e￿ments of car￿r guidance. Adventure BF Adventure Annual RetK)rt 2024-25 c￿panY Numter 3546772 Charitable objects: "Topromote 3ndadVan￿ the education ofyoungpeople who thmugh th￿r500?/ andeconomK circumstantss arein needof the pmvision of training faalitiesand recreatsonal actiwties wib? a view to improving theirc0ndit￿nS oflife so that they nwy develop theirphysical n￿talandsP1n￿a/¢apaOt￿ andgrow to full "To pmvide commUn¢tyfaalit￿ln the internsts ofsoaal welfare for ￿treation and letsure time occupation ￿th obiertofimpmving tharconditionsof life.- When reviewing our ￿rn$ and ObJecb"*s. and in planning cwjr future ￿1v￿"e5 the Trustees have referred to the Infom)ation contsined in the Charity commissior￿ general guidan￿ on public benefit aThJ that contained within the Charity f*)vemance Ccrfle. Adventure BF Adventure Annual RetKWt 2024-25 Company Numt*r 3546772 Achievements and Performance Our Core Pr rammes We have further and devebped our core charitable pr￿raMrnes this year trK)th at our home base G(xxlygrane Quarry, Penryn and at a new site in partnership with Comwall Scouts at Nine Ashes activity centre, P(MJmin. We are hugely grateful to all of our parthers, suptK)rters, funders and stakeholders for enabling us to conb.nue to suptx)rt young wple throughout this challenging pericKI. ParenVGuardian feedback: "Since attending BF Adventure my daughter has tsuty bbs9)mLYl in 9) many ways. She's become more independent, knrnt how to work ak)ngsi(Je adults and interart with other children. She has leamt to listen to instructions and put into place what is asked of her whith hasnt been easy for her in the past. She really kK)ks forward to all the ath"vities BF provide for her and r￿LS happy and safe wtth the staff that are alkKated to her." Under the Skills for Life banner wr'core, programmes primarily support children and young people who fa￿ challenges in engaging in full-time mainstream educabon. Most of the children and young people we work wth ore referred through statutory setvice5 although we also receive requests for help from other professionals and families direcdy. The majority of the children and young people we support have a range of complex needs, often exacerbated by txiverty. Some hove exterienced significant trauma through abuse, others have disabilities that make it difficult for them to understand the complexities of society, and many have significant mental health concerns that prevent them from fvlly engaging with their education setting, families and peers. Many of these (hildren and young people struggle to regulate their emotions and this can manifest in presenting behaviours that can challenge. During adolescence, this dysregulation can generate further risk as they trecome vulnerable to further mentsl ill health, increased levels of exploitation and may engage in risk-tsking behaviours. At BF we treat the person as a person, start where they are at and invO￿e them at every Step. Knowing their stories helps us to understand them, but it doesn't define them. Our Journey of Change helps us to supp)rt children, young people and families to understsnd how they are feeling, what their barri￿ to change might be arKI how our provi%on can help them overcome those barriers. We use it as a guide to our conversations, to enab￿ us to listen carefully and design a programme that meets th￿r needs. We have devek)ped an approach that draws on youth work theory, trauma informed prartice and outdwr educatyon to guide children, young people and families on their personal journey5. All jourrws have a beginning, a middle and an end and we sthve hard to ensure that each part of the journey at BF is valuable and effeth.ve Adventure BF AdV￿tUre Annual ReF#Yt 2024-25 Company Numter 3546772 During the 2024125 Ka(Jemic year we delivered over 3,500 Skills for Life sessions across a range of prc#Jrams. Through these sessions we V•X)rked with over 1000 individtjals. Our Scoal Impact ReFA)rt is prC￿UCed yearly to r￿(￿d in (Jetail the differertt that our provision makes. Skills for Life - Learn Differently Our Skills for ￿'fe Learn Differenty prcMJramme is at the core of our delivery, providing non- formal educative placements for d)ildren and young people (ages 5-16) who fa￿ challenges in mainstream educational settings. We ￿)Ik dosdy with our referrers in education and sIKial core to ensure that the provision we offer children, and ywng Fwple meets their individual needs. our promsion includes participation in the wider educational and social needs of the child, attendance at wofessionalslfamily meetings, Personal Education Plans and rewrts towards assessments. (ljr skilled instnKtors use our artivities and facilitab've conversations with young people to buikl professional, trust-based relationships. From this base Foint young people are encouraged to identify thar aims for sessions, how they want to devek)p and grow. Instructors write sessional retKirts that are shared with referrers and fèmilies and prowde evidence of individual pr￿re$s. We have a strong safeguarding ethic and work closely with refeTrers and families to keep (hildren and young rtople safe. In 2024125 we worked with over 100 d)ildren and young people through our Leam Differendy prc¥Jramme, providing nearfy 10,000 hours of support. Skills for Life - Access to Adventure Indusivity is essential to tsJr work at BF hAlventure, and we continue to d￿ek)p the s"￿e to ensure that peY)ple wf(h physical ar￿1￿ ￿arnIng disabiltknes can parb"apate in all aspects of our provision. This year we hove continued to prowde our Access to Adventure group provision and l.. I support and were able to draw fuThJing from the aare Milne Trust to suptx)rt 17 Family Activity Days thrwghout the summer holidays suwJrb"ng 100 family IT￿￿r5. Skills for Life - Head Out -T has expressed to me how much he ￿Joyed these sessions and would like to retum. I feel these sessions rK)t On￿ provided T with supwrt in rektion to his s(Kial and emob.onal well- being but also helped in building his confidence and self-esteem. Both family an(1 professionals supporting him saw a F#Jsitive dIfferer￿ when he was attending Ij￿ sessions." ior Fami￿ Worker These mentsl he0￿h and wdl-beirmj programme5 run on a half-temity basis at tx)th our Penryn and Bodmin based sites and indude I:1 outreach and transit￿n phases alongsde group work on site. During 2024125 we have delivered 9 Head Out prcmjrdmmes, fijnded through Cornwall Community Foundation, The Nab"onal Lottery c￿lMunity Fund arbd a private donor and supported 54 young peop￿ to improve their self-esteem and to devek)p improved coping strategies to manage their mentsl well-being. Adventure BF Adventure Annual Rewrt 2024-25 Compary Number 3546772 Skills for Life - Adventure Days (Jjr Adventrjre Days are fully funded fun-filled owortuntti.es for young people attending youth provision across Cornwall. We wotk wth organisations o(TOSS the voluntary sertor to plan the rErfert day - the groups can chcx)se from a Trnge of our act￿ties. tailored to rn￿t their 'For some, these adventures are one of the few opporttjnities they have to leave Pulmin....not only are they hawng a great time, they're a150 leamiThJ and growing in confidence. The BF team are Incredib￿ skilled and compassionate. Many of our yp were extreme￿ anxious at first...the BF team helped them feel safe, Youth Worker, ei)dmin During 2024125 we delivered 25 Adventure Days. workirwj with 14 different youth organisations. Skills for Life - YEP! (funded through fvnment fvnding, Cornwall C(NJ￿11. c￿j￿11 of the Is￿5 of So"Ily aTrJ the Gw Grovrth Fund) The Yepl Programme is an excittng initiative across Cornwall designed to support young Feople aged 16-24 across a partnership of organTSètions. It was aimed at those out of employment, education, or trainin9. as well as young people struggling in their education after the age of 16. BF PJventure becaffle part of the offer to work specifically with young people who were displaying offending ￿hav1)ur weye at risk of future offending. In February 2025 we ran Iw) unique programmes for a small group of ycNJng people at both our G)odygrane and Nine Ashes gte. The programme ran for two days a week over 8 weeks. We took a holistic and collaboratyve approach to ￿1P youThJ people build confiden￿. resilience, and competence while encouraging sew reflection on their life experiences and I￿haviourS to help address aThVor protect them from geitiThJ invofved in crime. Throtjgh engaging in adventurous oUtd￿r artiv[t￿S and buS￿aft, participants gaine(J valuable skills in a hands-on enwronment. The content of the programme was co4e5igned th the young people themsdve5, ensuring it aligned wth their goals, interests and experIen￿S. They aly) completed a unrt from the Level I Sknlls for Living and Work Qualificats"on, as well as receiving tsih)red l.. I SUPFK)rt including pre-pr(yJramme engagement sessions and follow up contart. We also held meth'ngs other profesgonals working with the young people to ensure effective collabordticw) and the best FK)ssibk (yjtcomes after the programme. Adventure BF Adventure Annual Rep)rt 2024-25 Company NLtmt*r 3546772 Alongside our Core charItab￿ PYCNJranNnes. the (harty offers a wide rarvje of Se￿OnS f(x a whole variety of groups and organisabons. Due to our stsff's skills and our induswe equipment, we specialise in educational artivity days other charttable organi&3tions. We can provide activities to improve communication. confidence, life skills or just provide an Unforgettab￿ experience. Most of our acttwties are fulty &cessible, making us a popular choice for groups wrth s{￿e additional Tre￿15. We provKle residential camps and artivity days for many Comish thls. This year we tr¥Jsted 89 sch￿1 and yth groups ddivering 27 residential visits and 62 day visits with 2.823 young people experisKing &venture based activities on ste. Volunteering During 2024125 we receNed supp)rt frcth over 50 irklividuals, with around 5 active￿ invow in delivery and maintenarKe in ary given week. Most individuals ￿pkK)rt for one day per week and volunteer working suprx)rt one off ftjndraising and Maintenan￿ events. We remain a popular th)1￿ WO￿ eXw7er￿e placements wth Ictsl sd￿1 students. This year FQSt Covid restrictic￿$ we wEre able to again suptx)rt year 15 stL*dents wth their early steps into the wkl of work. Apprenticeships We were able to continue to devew (wr Level 3 Out0￿ InstnJctor apprenkn"ceship with 5 individuals successfully COmp￿ting the fijll pr¢yJramme with recnJitment completed for a further 6 indivitduals. Adventure BF Adventsjre Annual RetK)rt 2024-25 Company NumLEr 3546772 Site and Strate ic Develo ments Whilst financial constraints limited capital investment in the site, we were able to complete the following works through 2024 and into 2025.. UwJrading site infrastwrture and refurbishment of artivity areas Further developing o￿rA￿"0nS in parknership wlth Comwall knjts and usage of their 25-acre w(M)dland activFty center based near PAxlmin, to faolitate the developmenvexpansion of chartty pr(NJramme provision in East Cornwall Completin9 the deVek)F￿ent of a large undergmur)d adventure tunnelling complex utilising donated materials that were surplus from the A30 dueling project Fully reviewing Business Plan to further deveknp a comprehensive 5 year pkHn to take the charity forwards. Key f(Kus upon the expansion OPFXJtunf(ies to devek)p seNices to meet a growing need for prowsion across Cornwall and to mitigate the pri￿ shock risk of the rising cost of our utilities Ma further devek)pment of energy efficienLy measures and renewable generats"￿. All of our recent develowients are an essential part of delrvering our future wsion and aims as outlined below. Our Aims: BF Athenture will have the following characterisb(s: l. Ensuring the safety and wellbeing of all thildren and young people we support is our top priority, wrth safeguarding embedded within the culture at BF Adventure and equally wthin external partners wtrK) are involved in the delivery of our services. 2. Making a positive differen￿ to all whom access ￿r services 3. Being a leading provider of Inclu￿Ve, adventurous artivities and gJpport to children, yOLJng tjeople and famil￿$ who face disadvantages in life. to meet their identified needs. 4. Operaknng with a highly skilled and motivated team 5. ALtng as a thding provider of quality Youth Work and Outdoor Adventure training 6. Prowding a sustainable (4)eration delivering lasting change and making a positive environmental impact 7. Operating across the southwest from its home base at Goodygrane offering market leading activi(ies, accommodation, training facilitjes and appropriate sUPtK)rt infrastructure 8. Strong relationships and presence across the public and voluntsry sertor 9. A recognised and leading prowdw of indiwdual, family and group OUtd(￿r attivities ' *Operating under our trading am Ferrats Comwall C.l.C. - generating a profit to further gJPPJrt the WO￿ of the charity BF AdvenbJre io Adventure BF Adventure Annual RepK)rt 2024-25 Company NuM￿r 3546772 Plans for 2025126: To consolKlate the growth achieved in the Core 0￿rity team seeking to continue to develc4) Servi￿ across both sites and the impact uwn those supp)rted. To 9enerate additional unrestrirted irKome by loc&ing to prorTK)te arKI rnaximise the Via Ferrats commeroal offering and new UndergrwrKI Adventure activity. To capitalise upon a large proFeity donabon receved in ￿tember of 2026 to inf(iate a large scale match fundraigng campaign cfhe &Jild Projert) towards raising the funds and SUPtX)rt to replace the dilapidated main charity faulities with a purpose-built, fijlly accessib￿ centre designed Specifical￿ to SUPkN)rt vulnerable young people and to optimise energy efficiency and renewab￿ energy generatr'on opportunities. Financial Review Current Free Unrestricted assets os at 31" August 2025 for the charity are £85k (last year £86k), However as a grcwjp there are no current free unrestritted assets. This represents a ratio of 1.5 n￿nthS of our average monthly expenditure and our reseryes EM)licy sets out to inuease this level ￿rosS the next few years This year we recorded an unrestTiCted deficrt of £54k after charging £48k depreciabon. £18k was invested from our reseNes into unre5tiirted fix&Y assets Resthcted reserves show a surplus of £22k after d)arging g24k depreoation. Of our £243k restricteo reSe￿e$, £154k wll ￿ drawn down in depreoation of assets over the next few years. £89k is cath held pending cCry1th￿ of funded revenue pro1￿. 2024125 Review The year to 31 Augl￿t 2025 was very 5￿CeSsfUl, despite an enormous number of thallenges. Our Core seryices were able to succesthjlly cperate and furthw expand to a new ste to support clients in the East of Comwall and provided ￿SentIal suptx)rt to more highly vulnerable young despite the ongoing post pandemic challenges arxl financiallcost of living crisis. We were gjpported by a large numt*r of grants, private donors and furKlraising ath'vities to ensure the continuty and groth of services li Adventure BF hAlventure Annual Rewrt 2024-25 Company Number 3546772 2025126 Expectations 2025126 should see ar￿ther tr¥Jsy year for l)oth Core setvI￿S and Adventure centre delivery deSp￿e the challenging fina￿la1 dimate syÉth further rigng costs exF*rted. We will conts'nue to invest in our site facilities and further invest in wr team and expand our delivery across east Comwall. Addits'onal fC￿uS will be placed utK)n seoJring the funding required for the &g Build development to ensure that support faalities and fit for wrpose and suppjrt the development nd delivery of our services. Investment powersi policy and perforniance: The Trustees, investment FK)licy is governed by the TnJst* Investment Art 2000. Current investments are spread ttheen COIF 0￿rI￿"eS Investsnent Fund and COIF charib.es Fixed Interest Fund. Surplus fijnds are dewsited with &3rclays Bank, Santander Plc. and Bank of Scotland to achieve maximum sp￿d of risk. Our investments we revIe￿ed in 2013114; we chose not to commit any further funds to long terni irwe5tments and to ersure reserves remain available to supp)rt site infrastnjcture improvements where essential. Our aim across the next 3-5 yeors is to increase the level of cash inve5trnents hekj On￿ rffJewes have recovered to a safe level. Our investment objectives V￿re to safely invest, with an expertation of a small addthnal irKome for the organizats"on. This objective has ￿￿en meL A Going Concern? With 2024125 deliveriNJ a ￿rpluS Wore deprenab"on. aThJ a p￿th"ve thkn.ng w)sibon in 2025126 the trustees are g￿￿ to see the resilien￿ of the organisab.on irnproving. The position of the charty a5 a going COr￿M has been considered and the trustees bdieve that the current delwery mc*Jel provides a F#)srtive plaifomi for future. Reserves Policy The organisation's unrestrirted reserve5 are rK)w £274k. The organisation will seek to increase reserves over future years though rec(KJnise the to continue to Inv￿ in the site, the team and the sustainability of the ste. The organisakn.on will wc¥k to reach free unrestrirted reserves of 3 months of unrestrirted annual eX￿ndItUre {which this year would be £197kl. Resetves above this level wll considered for addih.onal investment in the site, with a f(Kus on renewable energy sut4)fy, and investment in the team through working to ￿Ome a ￿.￿ng Wage employer. 12 Adventure BF Adventure Annual Repc*t 2024-25 Company NumI￿r 3546772 IA Governancei governing documents and constitution: The organisation is a chartsble ctxnpany limited by guarantee. incorpjrated on 16 April 1998 and registered as a chanty on 7 Ortolw 1998. (The Bishops Forum was inthalty inaugurat￿1 on 1° February 1988 a￿1 consts"tuted as a Charitab￿ tnjst on 22￿ September 1989.} The company was estsbli5hed under a MemoTrTrYum of As￿l0tion that estsblished the objects and p)wers of ￿ charitable company arKI is governed under its Artides of Asviation. The original Memorandum of ASS[￿lation was aM￿ded with the addition of a second chartsble object on 14 May 2LN)7. The C(wnpany Wds renamed BF Adventure on 16 October 2008. The charitable objects Y￿re then ￿der￿d on 17 Augusi 201?. The registered offKe is &xKlwJrane A(tMty Certh. Hafvasso. Longdowns, Penryn, Comwall, TRIO 9BX. Recruitment and appointment of Trustees: Under the A¢tides of Awciation. the Trustees are aprA)inted by ordinary resolub.on or by the Trustees. Only a person recommended by the TrLStees or a person nominated by a meml giving 14 to 35 days. ￿tice may be aptK)inted as a Trustee. A three-year stsggered retiremenvrotation pericml (with fKJ maximum numb& of terms served) was intrc#Juced from March 2013. Trustee induction and training: All trustees are selerted ts the skills experience they can offer. They are forn￿1 indurted into the Organisati￿ by t￿ ￿0 and management team. The￿ are Optxirtun￿ieS for trustees to suprK)rt on S￿On, or suptK)rt srte devek)pment as wdl as S￿nding time wth the team. We recognise the need for ong(Mng trnstee training a￿1 suptx)rt and the governance committee has intr(MJuc&l a training txc4ramme to enhance tTUStee knowledge around governance and safeguarding. 13 Adventure BF Adventure Annual Report 2024-25 Compary Numtr*r 3546772 Oryanisational strurture: The day to day running of the chartty is oVer￿n by ihe ￿0 supwrted by an experienced Senior Management Team consisting of; Charity Btjsiness Manager, Activity Centre Manager and Finance Supwjrt. There is significant variance in stsffing levels aligned with the sea￿)nalIty of demand for services; last summer there were 25 staff employed on a fijll-time basis, there are 23 supwrt and instrurtional staff with part-time contracLs. some On￿ work during the summer tkri(xl. Pay policy for senior staff: The organisation has implemental a Staffing Matrix. ¥thich defines the level of responsibility and salary banding for each role a(TOSS the organization. The matrix pay levels will be reviewed annually by a Remuneration Committ￿ led by the trustees. Pay for senior staff is incorporated within this and no separate polKy is in place. Risk management: The BF Adventure Risk Register is reviewed regular￿ ty txjth the Senior Management Team and the Board. Whilst this [eri￿ has seen a marked improvement in oijr financial resilience this remains the main area of risk, and we wll conts'nue to build resilience over the next few years. The trustees also r￿ognISe the knl of risk a5￿Ciated with tx)th safeguarding and heatih and safety due to the nature of our ddivery and artivib"es. These risks are regularty monitored and reviewed to ensure we always folk)w best praLtice. Safeguarding partioJl3rly of the Children and young people whom we support is of primary importance and is the key driver throughout all our fijture planning and dLrision making. 14 Adventure BF Adventtjre Annual Ret*)rt 2024-25 C￿anY Number 3546772 Statement of Trustees. responsibilities The Trustees (who are also directors of BF Advenlure for the pury)ose of company law) are responsible for p￿paring the Trustees. Annuol ReFQrt and the financial ststements in accordan￿ with applicable and United Kingdom GeneTally Accepted Accounting prath"￿. Company law requires the Trustees to prepare finanoal ststemerts for each financial year which give a and fair view of the state of affairs of the charitsbk company and of the incoming resources and applicatr.on of resources, including the income and expenditure, of the charitsble company for that FVKMJ. In weparing these finanaal statements, the trustees are required to: Select Sultsb￿ accountir#J kTh)1￿•es and kn appty them consistendy* Observe the meth(xls arKI prinaples in the ￿antieS SORP. Make judgments and estimates that are reasonable aThJ prudent,. stste whethLY applKable UK Accounting Stsndards have been followed, subjett to any material departures di￿￿}5ed arKI explained in the finanoal ststements; and Prepare the financial statements on the g￿n9 concern bass unless it is inappropriate to presume that the charitable company wll continue in operation. The Trusiees are res[￿$b￿ fc￿ keeping prorw accounting records which di￿lOse with rea￿nab￿ accuracy at any time the financial [K)sitic￿ of the charitable company and to enable them to ensure that the finanaal statements comply with the Companies Art 2(X)6. They are also respongbk for safeguarding the assets of the charitsble company and hence for taking reasonab￿ steps for the prelentson and detedj.on of fraud and other irregularities. The Trustees are re￿￿￿4e for the Maintenan￿ and integrity of the corporate and financial infomiation included on the charity's webgte. Legislats"on in the United Kingd(xn governing the preparabon and disseminats"¢M of finan¢ial statements may differ from legislation in other jurisdirtions. Small company provisions This rewrt has been prepar&J in ￿(ordanCe with the spechil provisions f(￿ small companies under Part 15 of the Convan￿S Att 2¢￿6. On behalf of the board Wingham Director 231.,la4 . 15 Adventure BF Adventure Annual RetKKt 2024-25 Company Number 3546n2 fBF Opinion We have audited the financial ststements of BF Adventure (the 'parent charitable company,) for the year ended 31 August 2025 ¥yhich comprise the Group Ststement of Finanoal ACt￿Vities, the Group and Parent Charitsb￿, Company Baknce Sheet, the Group Cash Flow statement and notes to the financial statements, including a summary of significant accounting wliaes. The ftnancial reFQrtiry fvamework that has trEen aPF4be(l in their preparats.on is applicable United Kingdom Acc(xJnting Stsndards (United knngdom Generally Accepted AccountiThJ Prath'ce), indudirwJ Financial RetK)rb"ng Stsndard 102 The Financial Reporb"ng Standard applicable in the UK and Repubiic of Ireland,. In our opinion the financial 5tstements: give a true and fair view of the stsle of the thantable companls affairs as al 31 August 2025 and of its incoming resour￿ and application of rescwrces. including ils income and expenditure, for Ihe year then ended., have been propedy Pfepared in aco)rdance wth United Kingdom Generalty AC￿pted Accounting Practice,. and have been p￿pared in accordance with the requirements of the Cornpan￿ Act Ba515 for opinion We CO￿lUCted our audrt in accordance Intemational Standards on Auditing {UK) (ISAS (UK)) and applicable law. Our res￿￿bIll￿.es under those stsndards are further described in the auditor reswnsibilrties for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are retevant to our audit of the finonckil statements in the UK, including the FRC'S Ethical Standard, and we have ftjlfilled our other ethical resp￿sibIlItieS in accordance with these requirements. We ￿lIeVe that the alKI￿ evidence we have obtain&l is sufficient and ppropriate to prOV￿e a b￿"S our opinion. Conclusions relating to going concern In auditing the financial ststements, we have concluded that the trustees. use of the goiThJ concern basis of accounting in the preparats'on of the finanaal statements is appropriate. 16 Adventure BF Adventure Annual Report 2024-25 C(￿npanY Number 3546772 Based on the work we have perfomied, we hève not identified any maten'al urttrtainties relating to events or conditlons that, individually or Co1￿)ve1y, may cast significant doubt on the charitsble company's abilty to continue as o gcAng concem for a period of at least twelve months fr(Nn when the financial staternents are authorised for issue. Our responsibiifcies arKI the r￿￿SIbilitieS of the bustees wth respett to going concern are described in the rdevant sections of rep)rt. Other infomiation The other Infomiation comprises the information induded in the trustees. annual retx)rt, other than the financh31 ststements a￿1 our audrtorfs repK)rt thereon. The trustees are reS[x)nsib￿ for the ither information. Our otmnion on the finanaal statements does not cover the other information alld. except to the extent otherwise explicitly ststed in our report, we do mt express any form of assurance conclusion therwn. Our respOn￿bIlty is to read the other information and, in doing so, consider whether the other information is maten.ally incon%stent wrth the financial statements or our knowledge obtsined in the course of the audit or otherwse appears to be matefialfy misstated. If we identify suth material inconsistencies or apparent material misststements, we are required to determine whether this gives rise to a material misstatement in the finanoal ststements themselves. If. based on the work we have performed, we conclude that there is a material misststement of this (ther informkn"on. we are r￿Uired to reFOrt that fact. We have nothing to reiKMt in this regwd. Opinions on other matters prescribed by the Companies Art 2006 In our opinion, based on the work undertaken in the course of the audrt". the inf0m￿￿On gNen in the trustees, re￿rt, whtth inclules the directo￿. rewt prepared for the pur[￿ of company law, for the financial year for which the financial statements are prepared is consistenl with the financial statements; and the directors. report IndudÈMI wthin the trustees, retKIrt has been prepared in accordance with applicable kgal requirements. Matters on which we are requlred to report by exception In the light of the knowwge arKI understandirKJ of the dwfitsble company and environment obtained in the course of the audit, v* have not idenb.fied material mlsstat￿￿nts in the directC￿$. re￿t Induded within the trustees. report. 17 Adventure BF Adventure Annual Report 2024-25 Company Number 3546772 We have nothing to re￿t in respect of the folk)wing matters in rektion to which the Companies Art 2006 requires us to rewrt to you if, in our (Win1(￿.. adequate accounting records have not kept, or return5 adequate for our audit have not been received from branches not visited by us; or the financial *atements are not in agreement with the accounting records and returns: or certain disclosures of trustee5' remunerab'on specified by law are not made; or we have not received all the infom)ation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees. responsibilities ststernent set out on page 15, the trustees (who are also the directors of the charitable company for the purtx)se5 of compary law) are responsible for the preparabon of the financial statements and for being satisfied that they give a trne and frdir view, and for such intemal control as the trustee5 deterrFiine is necessary to enable the preparation of finar￿131 statements that are free from rnaterial misstatement, whether due to fraud or error. In preparing the finanoal ststements. the tru5t&s ale responsible for assessing the charitable company's abi11ty to contsnue as a going Con￿rn, disclosing, as applicable, matters related to going concern and using the going (x)ncern basis of accounting unless the trustees either Inte￿ to liquidate the charitsble company or to ￿ase operab"ons, or have no realistic alternative bui to do g). Auditor responsibilities for the audit of the financial statements Our objectives are to obtsin reasonable assuran￿ a￿ut wwer the financial statements as a whole are fr& from material misstatement. whether dLbe to fraud or error, and to wue an auditor's repwjrt that includes our opinion. Reasonabk assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordan￿ with ISAS (UK) will always detect a material misstatement when it exsts. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expected to Influen￿ the economic decisions of users taken on the basis of these financial ststements. Irregularities. including fraud, are instances of ncn-compliance with laws and regulations. We design procedures in line with our re9N)nsibilities. outlined atK)ve, to detect material misstatements in respect of irregularities, including fraud. The extent to which our pr(Kedures are capable of deterting irreguL3rities, inclL4Iing fraud is detailed below.. 18 Adventure BF ￿VentUre Annual Report 2024-25 Company Number 3546772 Extent to which the audit was considered capable of detertiTrg irregularities. including fraud The objertives of our audit, in respect to fraud, are.. to Idenbfy as%ss the risks of material misstatement of the financial statements due to fraud- to obtain sufficient ppropriate audit ewdence regarding the assessed risks of material misstatement due to fraud, thrcHJgh designing implementing oppr(priate re5FKwse5: arKI to re5F0￿1 ppropriately to fraud or susperted fraud identsfied durirrtj the audrt. However, the primary responsibility for the prevention and detection of fraud rests th L¥)th those tharged with governance of the entity and its management. Our approach was as fol￿￿5. We identified aieas of laws arxl regulatK)ns that could reasonably be experted to have a material effect on the financial ststements from our general commeraal and settor experien￿, arbd through disojssion with the direttors and other management (as required by auditing standards), and dI￿u5$e￿ ￿ the dirertors other management the pollcies and pr(Kedures regarding (Cwnplian￿ with laws and regulations; We considered the legal and regulatory frameworks direct￿ applicable to the financial statements rewwting framework {FRS 102 and the Companies Art 20061 and the relevant tox Complian￿ regulations in the UK. We considered the nature of the industry, the ccffttrol environment and trwjsness r*rformance, including the key drivers for management's ￿Munera￿"0n,' We communicated identified Liws and regulatK)ns thrcAJghout our team arKJ remained alert to any indications of r￿￿-coMplI8￿e throughout the audit; We congdered the w(xedures controls that the company has established to ad¢Jress risks identified. or that otherwise prevent, deter and detect fraud. arKI how senior ManageM￿t monitors those programmes and controls. Based on this understanding we deggned our audit pr￿dureS to identify non-compliance with such kiws and regukb"ons. Where the risk was considered to be higher, we F*rform&l audit prtKedures to address each MIent[f￿d fraud risk. These pro￿ureS ir￿ude￿. tests.ng manual journals; reviewng the finanoal statement discb9Jres and testing to supporting documentsbon; perfomiing analytical pr￿edUres. and enquiring of management, and were designed to provide reasonable assurdrKe that the finan(ial statements were free from fraud or err¢x. Chwng to the inherent limitstions of an audr(, thue is an unavoidabk risk that we may not have detected ￿)me material mis5fatements in the finanaal statements, even though we have proper￿ planned and perforrrbed our a￿lIt in accordance with audib.rsg standards. For example, the further renM)ved noTrcompliance wrth laws and regulations lirr8Jularities) is from the events and transactions reflerted In the financial ststements, the less likely the inherently limited procedures required by auditing stsndards woukl identify it. The risk is 19 Adventure BF Adventure Annual Report 2024-25 Company NumEw 3546772 also greater regarding irregularities ￿rring due to fraud rather than error. as fraud involves intentional concealment, forgery, collusi(w), omission or misrepresentation. We are not responsible for preventing non-c0rnpl1an￿ and cannot ￿ expected to detect non- compliance wth all laws and regulations. A fvrther descriptton of our resrK)nsibiliknes for ihe audit of the finanoal statements is located on the Financial Remi'ng Council's website at www.frc.org.uVauditorsrestK)nsibil￿e5. This desCriPtk)n fO￿S part of our Report of the Independent Auditor& We communicate wrth those charged WTth govemance iegarding, anN)rrfJ other matters, the planned scope and timing of the audit and Signif￿￿t audit findirrfjs. including any signrfKant deficiencies in internal control that we identify during our aud￿. Other matters The financial statements for the year end&J 31 August 2024 were not audited as the charity met the requirements for an audit fi)r the first time for the year ended 31 August 2025. Use of our report This report Is made solety to the chaTitsble c(fftpany s mem1￿, as a ts)dy, in accordan with Chapter 3 of Part 16 of the Companies Aci 2tK16. Our audit has been undertaken so that we might state to the charitsble comrkany's members those matters we are required to state to them in an auditor's repK*t and for no other purpose. To the fullest extent permitted by law, we do not accept or assume resrrf)nsbiltty to anyone other than the chèritsble compary and the charttable company s members as a tK)dy, for our 3udit work, for this report, or for the opinK)ns we have fom)ed. rting PEnixJ. Grants recelvable Grants are recogni5ed when the charity has an w)tiVement to funds and any coThJibons linked to the grants have been met. Where perfcwmance cc￿J￿"0nS are aitached tr) rhe grant and are yet to met, the inciyne is recognised as a I￿tH"￿"ty èrKI induded Im the bakirKe sheet as deferred income to be releawj. Expenditure Expenditure is rtfCNJnised on an accJual basts as a Ikibility is iTKurred. EX￿nditure indudes any VAT which cannot be fulty recovwed aThJ ts remed as part of the expendf(ure to which it relates. Raising funds These are cists inajrral in attratting wDkJntary income, managernent of investm￿$ and those incurred in trading acbwties that raise fund& Charitable activities charitab￿ expenditure comwlses th(tse costs incurred by the U￿rity in the delivery of Its athvitles and ser￿￿ for its beneficiaries. It includes tM)th costs that can be alk(ated direttty to suth athwties and those cots of an indirert nabJre necssary trj them. Creditors The charity aims to pay all yjppliers cther credTtors in accordan￿ wlth agreed terms and within statutory wuiremernts. kve maintsin apwopriate aUth[￿Lsa￿[Xl controls for ordering and invoice approva5, and we Fm(ess payments thr￿gh xhedused payment runs to supp(rt tiffle￿ setuement. Where quewies ari*. we work prornptty wr(h ￿p￿Ie￿$ to resolve tlwn a￿1 avryd delays. Cashflow is actively rnonitored to ensure commitments can be met as they fall due. The charity nrt intenb'onally enter inlo arrangaments that wcwld lead to per9s￿l Late payment. Debtors The charity aims to i55ue invoKes ar¥J f(Didiro daims aryl to colkn amounts due in line th agreed tems. Debtor balances are rLwiewed regularly. wrth folk)w-up procedures in place for overdue atcwnts, includin9 rerninders arKI es(atstion W￿re necessary. We seek to resolve disputes quickty and maintain clear records to sU￿)rt colthion. Where recovery 15 uncertain, we consider appropriate pro￿75￿￿$ w w'rit￿0[[5 in lire wrth cMJr accountiry w11c￿. We also Monit(￿ credrt rtsk and, where appropriate, may request alfva￿e payments or staged billing. 27 Adventure BF Adventu Annual Report 2024-25 Company Number 3546772 Tangible fixed assets Individual fixeving forward whith will donated b&k to BF Adventure after tskn.ng into account plann&J repayments of the knn. The loan value in 2025 was higher than previous Feri￿s due to Payff￿nt timing. with a payment of £90k from VFC to BFA clearing on 1st Sept￿ber 2025, reduang the balan owed to £115,706. The trustees conswjer the shcrt temi loan fund to VFC essential to the sustainable future of the group and are confi¢Jent the trading FN)Sition of VFC wll facilitste full repayment a(ross the next 24 years. 37 Adventure BF Adventure nnual Rew>rt 2024-25 Company Numlw 3546772 19. Debtors Group 2025 Charity 2025 Group 2024 Charity 2024 Trade Debtors Other Debtors Prepayments and Accrt￿d IrKome Total 33.862 33,862 13,212 5,042 32,920 84,249 31,188 41,363 54 759 46 588 145 497 100 879 20. Creditors: amounts falling due within one year Group Chanty Group 2025 2025 2024 Char'rty 2024 Trade Creditors Other taxes and s(Kial s￿Urty Other Creditors Accrued Expenses Deferred income Loans 9,080 5,634 36,224 14,497 15,368 58 13,420 13.420 23,733 25,772 3,424 3,512 1,674 10,000 68,115 10,061 11,945 3,424 3,512 1,674 61,019 61,019 135,791 95,308 21. Creditors: amounts falling due between two and five years Group Charity Group Charity 2025 2025 2024 2024 R￿naTrce srrR Loan Barclays Bounce W Loan Other Credf(ors 86,371 10,000 1,675 98,046 86,371 10,000 96.371 38 Adventure BF Adventure Annual Repc*t 2024-25 Company Number 3546772 22. Accruals and Deferred Income Grc￿P Chartty 2025 2025 Group 2024 Charity 2024 Deferred Income At I September 2024 IncreaseI(d￿reasej in FEric*J 1,674 1,674 8,4&8 8,468 2354 2354 Released in t*riod At 31 August 2025 1,674 Deferred income rdates to adwdnce payments made to secure future trxx)knrwJs. They are non-refundable, but relate to del¥very in ftjture peri(*Ys. 23. Analysis of net assets between funds Unrestricted Restricted Funds Funds Totsl Funds Fund baknces as at 31 N￿guSt 2025 as represwted by.. Tangible Fixed Assets Current Assets Long Term Liabilities Current Liabil￿"e5 and provisioi Total 284,536 124,762 154,296 88,872 438,832 213,634 135 791 273 507 516 675 Unrestrirted Restricted Funds Funds Total Funds Fund bak4nces as at 31 August 2024 as represented by.. Tangible Fixed Assets Current Assets Long Term Liabilities Current Liabilities ané wovisions Total 325,959 167,492 (125,545) 410,616 166.156 492,115 54,526 222,018 0 {125,5451 40,616 547 972 327 290 220 862 Adventure BF Adventure Annual Rep(Kt 2024-25 C(ynpany NUrntr￿ 3546772 24. Unrestricted Funds Atl Incoming Septern￿r Re9)urces 2024 Outgoing Re5wrces Transfers Gains At31 and August Losses 2025 BF Adventure via Ferrats Cornwall CIC General Fund 327.290 247,936 79,354 918,012 153,369 (939,306) {185.858) 226,642 46,865 1,071.381 {1,125,164) 0 273,507 Atl Incoming September Resources 2023 Outgoing Reg)urce5 Transfers Gains and At 31 August 2024 BF Adventure Via Ferrnt3 Cornwall Ctc General Fund 330,423 251,069 79,354 788,887 206,062 (790,fA)61 (206,062) {1,4141 247,936 79,354 994,949 (996.668) (1,414) 327,290 Adventure BF Adventure Annual Re￿t 2024-25 Company N4Jmtv 3546772 Ati Incoming <)rtgoing SeptemtÉr Re￿￿r(e5 Res(yJfces 2024 25. Restricted Funds Tran4ers At 31 August 2025 Big_ Build FuThj* Resonance" BF Adventure Born Project- depreciation reSe￿e for Adventure 89,345 6,420 82.925 CC R(K)m Réfit- caprtal gfant for sensory.room prowgon. CCC Aimirvj H¢gh- Changing Places- depreciation reserve for Accessible Changing Suite" Children in Need- depreaation reserve for Elertric Vehicie. Clothworkers- depreCIat￿n rwve 765 180 585 1,047 6.021 15.428 9,329 330 330 Co￿1F- depr￿latIOn reserve for accessible changing.. DP[> depreciation reserve f 8,147 I,iii 7,036 i.(Hi 246 795 Green Hall Foundation- depreciation resetve for climbing equipment. Hedley Foundats'on- depreciation reserve for stte develowent. Inner Wheel- depreciation reserve for kayak fteet and SUPS* Lloyds TSB Capital- depreciatic reseNe for site development. S¢te Development Funii- dewe(iatsc reserves for Ath"wty Quarry installation Skipton Yurt Fund- depr￿la￿"0n reseNe for Yurt nurture y.ce' The Tanner Trust- depreciation reserve for site borehole. Tanner- Office. Wooden SpK¥M- depreaation reserve for Adventure Barn climtm'ng wall* Paypal Giving Groundwork UK 1.519 300 1,219 157 903 3.298 614 3.187 472 2,715 12,539 1,858 10.681 1.577 142 1,435 9.704 817 8,887 7,050 1.800 5,250 287 69 Adventiire Ed- 16+ Educkn"on provision Albeit van den Bergh- reVe￿ue iijnd for Head Out.provision (575) lo,￿￿) 5.675 3,750 1,469 965 2,504 41 Adventure BF Adventure Ann￿￿1 Rewrt 2024-25 Company Numb￿ 3546772 Awards for All Head Out- Brighter Futures Gmup.. Brighter Futures S4L D'oyty Carte Head Out CCF Head Out Resonance Head Out Hedley Fafflily t)ays...... Nansledan Adventure Days Paypal Giving TOTEM- revenue ftjnd prOVi￿On of LGBT.Q+ activities Woryal Foundation- revenue fijnd for . p.rovision of IndivKlual acb"vrties 5,627 Brighter Futures- CCF 2,554 Cèmp. Camp ........-................................._...--..-_--.-.. ................ Claire Milne Communty. Fund Adventure.Days............_._.................. .......................................... . .. Garfield Weston EB Head Out Chiklren in Ne&1 7.290 621 -2751 2,585 9,000 2,180 69 2,566 729 364 365 26,805 220,682 149,192 126,706 243.168 * £154.296 of the balance at 31 A￿￿5t 2025 is a depreciati(￿ reserve for orant fun(Sed fixed assets, £88,872 is unspent funds for revenue proietts in 2024125. 42 Adventure BF Adventure Annual Report 2024-25 Company Numiw 3546772 lrtoming Ckrtgoing Transfers At 31 September RexMIr￿ Resources August 2023 2024 25. Restricted Funds- prior period Big_ Build FuThJ* ResorTrènce' BF Adventure Barn F>roject- depreciation r￿rve for Adventure Barn. CC Accessibility Grant- iiepreciatson reserve for proVis￿n of accessible toilet facilities. CC R(x)m Refit- captsl grant for sen9)ry rwm proMg0n' CCC Aiming High- Changing Places- depreciation reseNe for Accessible Changing.Suite" Children in Nee(l- depreciatM)n reserve for Elettric Vehicle. Clothworkers- depreciatDn reS￿ve for tsblets.. Covid-19 supw.rt" COMF- depreciation reserve for accessib￿ changing DPD- depreciation reserve for beekeepin9 facilitEs * EDF Green Fund- depreciati reserve for 3 phase e￿.Cal upgrade. Green Hall FoiJndabon- deryeaats.on resetve for Climbin￿ equipment" He(Jley Foundation- depreciatii)n reserve for site development. Inner Wheel- depreciation reserye 95.765 6,420 89,345 945 180 765 8,115 1,047 7,068 21.527 15,428 727 397 330 9,258 i.iii 8,147 1.287 246 1,041 1,752 1,752 1.819 300 1,519 1.217 157 1,060 3,912 614 3,298 Lloyd5 TSB Capitsl- depre(￿tIOn reserve for site development¥ Site Development Fund- depreciab(Mi rese￿e5 for Ath'vity Quarry installation. Skipton Yurt Fund- depr￿lation reserve for Yurt nurture spa.ce" The Tanner Trust- depreciation reseNe for site borehole. Tanner- Offi￿. Woc#Jen SFX)on- depreciation reseNe for Adventure Barn climbbng wall* AAFH UK Youth 3,659 472 3.187 14,397 1,858 12,539 1.782 205 1,577 10.521 817 9,704 300 8,333 1,800 7,304 7,050 43 Adventure BF Adventure Annual Report 2024-25 Company Numtw 3546772 Adventure Days Cash4Kids Adventure Ed- 16+ Education -provision Albert van den Bergh- revenue iiin(I for Head Out provisbon Awards for All Head Out- Brighter Futures Group_---- Brighter Futures S4L Claire Milne BBC Children in Need- &immer FiJiKI Cost of ￿v1.ng...........................----- D'Oyly_ Carte Garfield Weston- revenue fttnd for organisational core costs to ddiver Skills for ￿fe Newby Trust Head Out CCF Head Out Children in Need Head Out Resonan Head Out Hedley Family Days..-.. Nansledan Adventure Days...........................-.--...-..---- Fiaypal Giw_ng_--------.--. Resonan TOTEM- revenue fund for provisi(Jn of LGBTQ+ activities Worval Foundation- revenue fund for provision of Individual activtties 3,000 6,875 (3.71K)) 10,000 (575) 624 1,155 12,500 244 1,469 2,426 120 30.000 3,333 4,829 3,000 14,874 14,353 4,155 10,561 13,733 991 199,298 198,834 177,466 220.682 * É166,148 of the balance at 31 August 2024 was a depreoatw)n reser¥e for grant fuThJed fixed assets, £54,526 is unspent funds for revenue prO￿￿ts in 2023124. Adventure BF Adventure Annual Rewt 2024-25 Company Numbw 3546772 26. Reconciliation of net incomel(expenditure) to net cash flow from operating activities 2025 2024 Net Incomel(expendlture) for the reportlng perlod (as per the statement of financial artivities} (31.297) 18.251 Adjustments for: Depreciation Charges (Gain5llLosse5 Investments Dwidends, interest and rents investrnents Lossl{profit) ￿ tJ)e sale of fixed assets [I￿reaSe)Ide£rea5e in debt￿5 Encrease/{decrease) in ¢Jeditors 71,072 72,062 1,414 (1.567) (7.549) (15,181) 9).738 129,281) (30,370) (32,174) Net cash provided by (used in) operating adivitles 77.413 28.705 27. Analysis of cash and cash equivalents 2025 2024 Cash in hand 158,875 33,445 Bank Overdraft Notice detx)%ts {less than 3 nK)nthsl 43,076 Totsl cash and cash equiwalents 158.875 76,521 45 Adventure BF Adventure Annual RewKt 2024-25 Company Numtw 3546772 28. Analysis of changes in net debt At start of cashfloV￿ At year end Cash in hand 33.445 125,430 158,875 Noti￿ deposits {les5 than 3 months) 43,076 (43,076) Total cash and cash equivalents 76,521 82,354 158,875 Loans falling due vthin Or￿ year {106,371) 45,352 {61,0191 Total borrowlngs (106.371) 45,352 (61,019) Net debt (29,850) 127,706 97,856 29. Financial Commitments At 31 August 2025 the compary had annual commrtments undef non-cancellable operating leases as follows.. 2025 2024 thje within one year 5.135 3,061 Due 2-5 years 13.677 9.856 Due after 5 years 55,457 41,888 30. Company limited by guarantee BF Aoventure is a company limited by guarantee arKJ accordingty does not have a share capital. Every member of the company undertake5 to ci)ntribute such amount as may be require, not exceeding £10, to assets of the chaTTtable company in the event of its being wound up while he or th is a member. or vrithin one year after he or she ￿Se5 to be member. Adventure BF Adventure Amnual Re￿rt 2024-25 Company Numtw 35467T2 31. Subsidiaries These financial statefflents are consolida￿1 financkil statements for BF kiventure induding the results of Wia Ferrats Comwall C.l.C. tknils of the tharty s subgdiaries at 31 August 2025 are as follows.. Name of undertaking Via Ferrata Cornwall C.l.C Registered office , G[￿ra￿e kivty Centre, l Halvasso, Penryn, England, TRIO 98X Nature of business Operats"on of sports facilities 32. Related party transactions The charitable company has taken advantage of exemption, Ufmler the terms of Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland., not to disdtx related party transact￿15 With wholly owned subsidiaries within the group. 33. Post year end events On 19th November 2025, the d￿rty gained ownership of a property which has been professionally valued at £60O,¢x￿. The pr(Keeds of sale are to be distributed with a 60% share being received by BF Adventure with the remaining 404kn distributed to a Ic(ol thority specified by the donor. 47