Registered number. 03389636 Charity number. 1074671 LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limited by Guaranteo) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
LEICESTER OUTDOOR PURSUITS CEtrifRE (A Company Limitsd by Guarnntee) CONTENTS Pag8 Roference and Admlnl8tratlvo Detall8 of tho Company, Its Tru8tee8 and Advlsors Trusts•s' Report Trusteos. Rosponslbllllle• Statement Independont ExamIn08 Report 9-10 Statement of Flnanclal AGtlvltlo8 11 Balance Sheet 12-13 statsmont of Cash Flows 14 Notss to the Flnanclal Statements 15-31
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limited by Guardntee REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Tru8ts•s MrA D Parker, Chair Mrs K Cane. Vice Chalr Mr P Wlthnall, Treasurar Mrs R S Paterson Mr C Walsh Ms C James Mrs A Barwell Mr K Hampton Company rogl¥tored number 03389636 Charfty regl$tgred number 1074671 R•glstsred offlce Redhill Cirde Loughborough Road Leicester LE4 5PN Company secretary Mr S Fraser Ac¢ountant8 Magma Audit LLP Part of the Daln8 Group Chartered Accountants Unlt 2, Chamwood Edge Business Park Syston Road Lelcester LE7 4UZ Advl8or4 Mr H Jeffs Mr K R Hampton Page 1
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Llmlted by Guardntso) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their Annual Report together with the financial statements of the charltable company for th8 yoar 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees, Report and Directors, Report under company law. The Trustees confim that the Annual R8POrt and financial ststements of the charitable company comply wlth the current statutory requir8m8nts, the requirements of the charitable companys goveming document and the provisions of the Statement of Recommended Practlce (SORP) applicable to charities preparing th8ir accounts in accordanco with the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and larg8 compani88 under the Companies Act 2008 (Strategic Report and Diredors, Report) R8gulation$ 2013 has been omitted. ObJoctlvM •nd actlvitl•s • Pollclos and obJ•¢llv•$ In settlng obleotlves and plannlng for actmties, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public b8n8fft, includlng the guldance 'Publi¢ benefit.. wnning a charlty (PB2). Th8 object and prfnclpal actlvlty of the Charltable Company is the provision of 8dventure, education and leisure activities to the residents of Leicestershire and surrounding areas. Our approach to fulfilling this object remains unchanged from tha prevlous year. The lull range of facllities offered can be seen on our website: www.lopc.co.uk. • Publlc bonofit 8tatem•nt In planning our activities for tha year we kept In mlnd the Charfty Commlsslon guidan¢e on public benefit at our Trustees meetings. Lei¢ester Outdoor Pursuits Centre 'LOPC' has a mission to provide adventurous actlvlty experlen¢es designed to stimulate. educate & motiV8te young people & others at affordable prices, in a safe challenging environment. LOPC is for EVERYONE for Enjoyment for Learnlng for a Sustainable Future by developlng the facllltles, actlvltle5 and program5 to meet the need of the communitles we See, the LOPC works with local strategies and feedback to continuously look at opportunltles to enhance its provision. In Ihis way, the LOPC sets out to offer opportunities lor people to engage in exciting and adventurous a1vIlle8. thereby ¢01[D9 a sustainable local community facility for all people of all ag8S. Page 2
LEICESTER OUTDOOR PURSUITS CENTRE IA Company Limlt•d by Guarantsel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevoments and pgrfomiance • Maln achlevements of the Company Following the downtum In income during 202012021, due to the global Coronavirus pandemlc, the LOPC has now achieved three consecutive years of growth in tumover. This success has been driven by delivering core activlties to a wlde range of users and visitors. As an 8mploy8r of Apprentice Outdoor Instructors for five years, the Centre remalns committed to slaff development. In 2023, the LOPC was recognised as No. 22 in the UK'S Top 50 SME Employers Apprenticeship Awards. Additionally, three university students wer8 offered plac8m8nts with training and development opportunities over th8 summ8r, further broadening the Centre's educational impact. The employment of a full- lime qualified teacher this year demonslrates the Centre's dedication to expanding formal qualifications and engaglng wtth Schools and educational institulions. Reluming s¢hoo15 for residential trlps In th8 t8nted villag8, aft8r a successful year, and Increased future enquiries reflect this focus. Po$t-pandemlc, the Centra's Involvamant in the HAF (Holiday Activity & Food) Programme has seen 8 rise In participation across Easter, Summer, and Christmas programmes and over the Wlnter the LOPC was awarded funds the operate the UK Youth Adventures Away from Hom811 programme. The Women's Group, rebranded 88 "Wild Wom8n,' and the establishment of an LGBTQl+ group hav8 both seen growth, fostering inclusivity within the Centre, whllst thè Cenlre also proudly welcomed Children In Need's Pudsey Bear to the Centre to try out some activities. Investments in site and actlvlty Improv8m8nt8 include the introduction of an Axe Throwing and Rffle Range renovations, and drainage renovations, purchase of ploneerfng pole and the in-house management of grounds following the contractors retlrement. A collaboration with a local prlla vendor has resulted in the permanent addition of fre8h wood-fired pizza5 for larger groups. We continue to work with Natlonal Govemlng Bodies (NGBS) to SUre our courses remaln relevant and up to dale for the sector. For the year 2023-2024, while income from Charltable Actlvltles sllghtly decroagod, donations and grant income saw signifieAnt growth, rfslng from £18k (2022-2023) to £110k (2023-2024). This increase was largely due to fundraising efforts following the January flooding, which caused £70-8Ok in damages, and the Lands, End to John O'Groats cycllng event supporting the construction of a new Outdoor Classroom & Toilet block. Overall, total income grew from £671 k (2022-2023) 10 £733k {2023-2024). Expenditure rose due to higher staffing costs, drSven by the Increaslng National Living Wage. Although managing these costs remains challenging, the Centre continues to ensure these increases are covered wrthout significantty affecting customers. The Centre has also maintained its envlronmental commitment by continuing monthly river littèr pi¢ks. Page 3
LEICESTER OUTDOOR PURSUITS CENTRE IA Compary Limited by Gu•rante¢) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal rovlow • Golng concern After making appropriate enquiries, the Trustees have a reasonable expectatlon that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further detalls regardlng the adoptlon of the going concem ba81s can be found In the a¢countlng policies. • Rgserves pollcy The Statement of Financial Activities shows a net surplus of £103,314 for th8 year (2023 - £96,227) arKI reserves as at 31 March 2024 of£734,027 (2023- £630,713). Lasl yèar th8 Ouard looklng foreca8t was for a decline in reseNes, though the Centre aclually managed to make a healthy surplus. The current UK economic position has seen a rise in energy costs and an increase In inflation post pandemic with the ongoing war In Ukralne havlng lurther Impact. Cash reseNes frorn 2022-2023 are more than wa8 antlclpated, whlch wlll provide Ihe Charity greater Stabilty in for the future, which the Trustees will need lo ensure ar8 appropriately managed. It is anticipated that future investment may need to b8 drawn upon to support future expendlture at the Centre but at this time thal Is un¢ertain. The Trustees ultimately wish to maintain unrestricted reseNes of 3-6 months exp8nditure and will be cautious about how appropriate reseries are invested or maintalned. Free reserves represents unr8stri¢ted funds and d8signat8d funds. At the year end, the ChaTStsble Company had free reserves of £523.706 (2023 £414,650> which ¢on8lSts of £350,000 set aside for high ropes and centre development, with th& balance of £173,7( equating to approximately 3 months of runnlng costs for the Charfty. • Inve8im•nts poll¢y The Trustees have considered the way whlch the Charitable Company invests its funds and considers the most appropriate appro8¢h is for the funds to be held in savings account(s) or bond account(s), where the maxlmum Investment is £85,000 per UK-regulated financial institution, which is prote¢ted under the Finan¢ial Services Compensation Scheme (FSCS). Where the Trustees have identtfied sufficient res8rves to inv8St, it is considered that money may be deposlted into bond(s} or savings account(s) where the Investment can gain the b8St interest rates. 11 is accepted that this may mean having funds placed in an account(s) with restricted access over a given tlme perlod(s). such as 35 day notiC811 yearl 2 year bonds. • Prfn¢lpal rf•kg and uncertalntlo8 The Trustees have discussed all the major risks to the Charitable Company durlng the year. They have developed systems and strategles to conlrol these risks and mitigate any effecl they may have on the Centre. The Trustees will continue to review these on a regular basis. At prèsent tlme the greatest risk Is from the uncertainty of both intemational and domestlc markets whlch are causlng pressures in UK Inflatlon rates. The Twstees need to be mindful that increases in inflation put pressure on expendable income for many of the core Centre users, which could Impact the ablllty to pay for sesslons at the Centre. There are ongoing risks from flooding and although these are an annual concem, being based on Ilood plain, to date we have been able to continue to operate with a r8duc8d capacty in flood conditions. Page 4
LEICESTER OUTDOOR PURSUITS CEKfRE IA Company Limit by Guarantee TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Structur99 governance and management • Constitution Lelcester Outdoor Pursuits Centre Is registered as a charltable company limited by guarantee and was set up by a Trust deed. The Charitable Company was incorporated on 20 June 1997 as a Charltable Company limlted by guarant88 and is therefore governed by the Memorandum and Artic18s of Association. Charitable status was granled on 16 March 1999. Prior to incorporation, Leicester Outdoor Pursults Centre was operating as a Charity within the CK Trust. In the event of th8 Charitabl8 Company being wound up members are required to contribute an amount not 8xceeding £1. • M•thod8 of appolntm•nt or •l•¢tlon of Trustees and Dlroctors The management of the Company is the responsibility of the Twstees who are elected and cfyopted under the terms of the Trust deed. Appointment of the Trustees is gov8med by the Memorandum and Articles of Associalion of the Charitable Company. The Trustees are authorised to appoint new Trustees by resolutlon to fill vacancies arising during the year. All the Trustees of the Charitable Company are Truslees of the Charity. DurSng the past year the Chair of Trustees, Ann BaNiell stepped down from the role, but conllnues In the role of a Trustee. Ann has been Chalr of the Board of Trustees since 2016 and the Trustees thank Ann for her commltment to the role over the past 6 years. Trustee Andrew Parker has been voted In as the n8w Chair of Trustees, The Tru8te88 also w8lcom8d 3 n8w Trustees during the year, Chris Walsh, Catherlne Jam88 and Paul Withnall. Paul alBo takes up the vacant Position of Trea8uror to tho Board of Trustees. The Trustees thank Karen Hampton for her eff¢)rt8 In acratelY recordlng the minutes of the AGM and Trustee me8ting$ throughout the year. All Trustees comp18te an "in-house induction" and attend 'Trustee's Responsibilities courses as requlred. Additional specialist subjects are attended as requlred. • Organlsational 8tructur• The Trusl8es m88t regularfy during the year and are responsible for the strategi¢ dlrectlon and pollcles ol the Charitable Company. As the organlsatlon grows, so does the need to review th8 operational 81ructu. The Trustees delegate the day to day running of the Centre to the Centre Manager, who has an Operatlons Manager and Business manager as a 2nd t18r of support. • Flnan¢lal rfsk management The Twstees have assessed the major risks to whith the Company is exposed. in particular those related to the operations and finances of the Company. and are satlsfied that systems and procedures are ir) place to mitigats exposure to the major risks. Page 5
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limited by Guarantse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 struCre, governance and management (continued • Tru8te88' Indemnttlès As permltted under the Charltable Companls Artlcles of Association, the Charitable Company has maintained insurance amounting to £627 in respect of Trustees, and officers, liabilities incurred in connection with the discharge of thelr duties. The Insurance Is for a18V81 of £500,(X)O. • Acknowledgemonts The Trust88s would like to thank all of the Centre staff and volunteers who continue to PLrt in an enonnous amount of 8ffort to make the LOPC a Communiiy Centre of choice for the people of Leicester and surrounding aa. Volunteers have d8VOted many hours at the Centre to make sure that the actlvltles wn smoothly and the Centre functions effectively. Plans for futurn p•rfod• LOPC will remaln commltted to contlnual development In order to become a Contre of ¢holce for Its ¢ustomer8, staff and volunteers. The Centre was involved in delivery of the HAF (Holiday Activty Fund) Stheme during the year for Leicester City. The Centre remains commutted to working with the Cty to invest in increasing opportunity where possible. The Outdoor Instructor Apprents'ceship Scheme has now been runnlng for the past 4 years at the LOPC and has helped to support the educational development of people asplrlng to become future Outdoor Instructor8. The Centre will conllnue to offer Apprentice posltlons for the near future. A8 numbers of partlcipants increasè, so doa$ thè néed for more equipment. Tha Centre will continu• to Invest in new equlpment, ag well as replaclng aglng equlpmenl to help the Centre offer a mor• premium experience to or¥ wlth newer equlpment avallable for use. The Trust888 and management continue to set aside financial resources for the replacement of the high ropes course in the fuiur8 of the Centre as incom8 and finance8 permkt. The plan is to continue to add to this fund 88 finances permit. With ambition to look at the possibilityl feasibility of demclishing the existing building and building a new bespokè Outdoor Centre in c.8-10 years, time, the management have started the long process of engaging wlih potentlal stakeholders to build support for the futur8. In the short term, the Centre will continue to invest in other projects that will support growth at the Centre, such as a new Outdoor Classroom and an extemal toilet block. Another potential project is iedevelopment of the Air-rifie range. Approved by order of the members of the board of Twstees and signed on their behalf by: Page 6
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limitod by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Mr A D Pari(gr Chair of Trustees Date: Page 7
LEICESTER OUTDOOR PURSUITS CENTRE IA Company Limited by Guardntee) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees (who are also the director8 of Company for the purposes of company law) ar8 responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accountlng Standards (Unlted Klngdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each finanrial year. Under company law. the Trustees must not approve the financial statements unless they are salisfied that they glve a true and falr view of the State of affairs of the Company and of its incoming resource5 and application of resources. including its income and expenditure, for that period. In preparing these financial statem8nts, the Trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP (FRS 102)., make judgments and accounting estimates thal ar8 ieasonablo and prudent,, state whether applicable UK Accountlng Standard8 {FRS 102) have b8en followed, subled to any material departures disclosed and explained in the financlal ststements., prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequale accounting records that are sufficient 10 Show and explain the Companls transactions and dlsclose wbth reasonable accuracy at any time the financlal posltlon of the Company and enable them to ensure that the financial statements comply with th8 Companies Act 20(. They are also responsible for safeguarding the assets of the Company and hence for taking rea80nable step8 for the preventlon and detection of fraud and other irregularities. Approved by order of the members of Ihe Board of Twstees ond slgned on ils behalf by.. MrA D Parker Chair of Trustees Date: Page 8
LEICESTER OUTDOOR PURSUITS CENTRE IA Gompany Limited by Guarantse) INDEPENDEKf EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examlnefs Report to the Trustees of Le1Ctsr Outdoor Pursults Centre ('the Company.) I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Rosponslbllltlos and Ba$18 of Rgport As the Trustees of the Company (and ils d1CtOrS for the purposes of company law) you are responslble for the preparation of the accounts In accordanc8 Wlth th8 r8quir8m8nts of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not requlred to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the CoMpanS accounts carrled out und8r $8Ctlon 145 of th8 Charities Act 2011 ('Ihe 2011 A¢t'). In Carrying out my examination I have followed the D1CtionS given by the Charity Commission under Section 145{5){b) of the 2011 Act. Ind•p6nd•nt Examlnèrfs Statam•nt &nca the CompanV8 gross Income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examlnatlon becausa l am a mèmber of Instltute of Chart8r8d Accountants in England and Wales, which is one of the listed bodies. Since the Companls gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Instltute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in Connection with the examination giving me cause to believe.. accountlng records were not kept in respect of the Company as requlred by sectlon 386 of the 2006 Acl., or the accounts do not accord wlth those records,. or the accounts do not comply with the accounting requirements of section 396 of the 2008 Act other than any requirement that the aount8 give a Irue and fal¢ vlew whlch Is nol a matter considered as part of an independent examination; or the accounts havè not been prepared in accordance with the methods and principles of the Statement of Recommended Practlce for accounling and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)]. I have no ¢oncems and have come across no other matters in connection with the examination to which attention should be drawn in this report In order to enab18 a proper understanding of the accounts to be reached. This port is made solely to the Companrfs Trustees, as a body, In accordance with Part 4 of the Charltles {AcUnts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Companrfs Trustees those matters l am required to state to them in an Independent Examlnefs Report and lor no oth8r purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report. Page 9
LEICESTER OUTDOOR PURSUITS CENTRE IA Company Limited by Guarantee INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Signed: Luke Tumer Dated: FCA FCCA Magma Audit LLP Part olthe Dains Group Chartered Accountants Unit 2, Chamwood Edge Busine Park Syston Road Leicester LE7 4UZ Magma Audit LLP is part ofthe Dalns Group. Page 10
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limitgd by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Rostrlcted funds 2024 Fixed asset Unrostrictod fund funds 2024 2024 Total funds 2024 Total funds 2023 Note In¢ome from: Donations and legacAes Charitable activities Investments Other InMe 31.976 77.988 614,505 6,314 4,049 109,964 614,505 5,314 4,049 18,484 644,434 802 7,593 Total In¢om• 31,976 701,886 733,832 671,313 Expendliur• on: Charitable activities 26,371 28.265 585,712 840.348 575,Q86 Totsl •xpendlture 26.371 28.265 585,712 640.348 575,086 Net Incomo1(oxpendlturo) Transfers belween ftjnds 5.605 (28,265) 116,144 93,484 96,227 17 19,111) 26,029 (16,918) Not movom•nt In funds 13,506) 12,236) 99,226 93.484 96,227 Rèconclllatlon of funds: Total funds brought forward Net movement In funds 34,970 (3.506) 181,093 12,238) 414,660 99,226 630.713 93A84 534,486 96,227 Total fund8 earrlod forward 31A64 178,857 513,876 724,197 630, 713 The Statement of Financial Activities indude8 all gains and losses recognised in the year. The notes on pages 15 to 31 form part of these financlal 8tatements. Page11
LEICESTER OUTDOOR PURSUITS CENTRE IA Company Limited by Guarantee) REGISTERED NUMBER: 03389636 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Flxed a88et8 Tangible assets 13 178.857 181,093 178.857 181,093 Curront a•80ts Debtors Investments Cash al bank and in hand 14 15 10,943 266,000 320,114 12,320 486. 743 686,057 499,063 Creditors,. amounts falllng due wlthSn one year 18 140,717) {49,443) N•t ¢urront a$$ets 545.340 449,820 Total as88ts I ¢urr•nt Ilabllftles 724,197 630,713 Not ai8ets excludlng p•n8lon a•4•t 724,197 630, 713 Totsl net assets 724.197 630,713 Chirlty lund Restricted funds.. Restricled funds Flxed asset fund 17 17 31,464 178,867 34,970 181,093 Total restricted funds Unrestricted funds 17 17 210,321 513.876 216,063 414,650 Total fund* 724197 630. 713 The Company was entitled to exemption from audlt under section 477 of the Companies A¢t 2006. The members have not required the company to obtain an audii for the year in question in accordance with sectlon 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complwng wilh the requirements of the Act w5th respect to accounting records and preparation of financial stat8m8nts. The financial statements have been prepared In accordance with the provisions applicable to entities subject to the small companies regime. Page 12
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limited by Guarantee> REGISTERED NUMBER: 03389636 BALANCE SHEET ICONTINUED) AS AT 31 MARCH 2024 The fina statements were approved and authorised for issue by the Trustees and slgned on thelr behalF by: Mr P Wlthnall Treasurer Date: Th8 notes on pages 15 to 31 form part of these financi818tstements. Page 13
LEICESTER OUTDOOR PURsurrs CENTRE {A Company Limited by Guaranteel STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operating activities Net cash used In operatlng actlvltles 109,086 148, 776 Cash flow8 from Invo8tlng actlvltl08 Paents to acquire tangible fixed aysets Tr8n8ferred to investments Interest rec8lved 126,0291 (255,0001 5,314 (30,387) 802 N•1 ca•h In Invo*tlng a¢llvltl•• 1276,7161 (2986 Ca•h flow8 from flnanclng actlvltlo8 Net cash provldad by flninclng •¢tlvltlo8 Chango In cash and ca•h gqulvalgnts In the year Cash and cash equlvalenls at the beglnnlng of the year 1166,629) 486,743 119,191 367, 552 Cash and ca•h equlvalents at the end of the y•ar 320,114 486, 743 The notes on pages 15 to 31 form part of these financial statements Page 14
LEICESTER OUTDOOR PURsurrs CENTRE (A Company Limited by Guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Genoral inforniation The Lelcester Outdoor Pursuits Centre is a Charitable Company limited by guarantee and registered In England and Wales with Companies House {r8t. 03389636) and thé Charity Commission (ref: 1074671). Th8 registered office is Redhill Cirde, Loughborough Road, Leioster, LE4 5PN. The prlnclpal actSvity of the Charity15 yet out In the Trustees. Report. Accountlng poll¢los 2.1 Bas18 of preparatlon of flnanclal Btatement8 The flnanclal statements have been prepared in accordance with the Charities SORP (FRS 1021 Accounting and Reporting by Chatities: Statement of R8comm8nded Practicè appli¢ablè lo ¢harilies preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republi¢ of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Lei¢e$ter Outdoor Pursuits Centre meets the definition of a publlc beneflt entity under FRS 102. Assets and Ilabllltles are initially recognised at hisloriral cost or transaction value unless otherwise stated In the relevant accounting policy. The Charltls functlon81 and pre80ntallonal currency is 8riti$h Pounds Sterling {£} and Is rounded to the nearest pound. 2.2 Golng concern The financial ststements have been prepared on a going concern basls. The Trustees have consldered the relevant informalion, including the annual budget, forerASt future cash Ilows and the Impact of subsequenl events in maklng thelr assessment. Based on these assessments and havlng regard to the r6s0urces available to the entlty, the Trustees hava concluded that it is appropriale to continue to adopt the goin9 concem basi8 in preparlng the Trustees, Report and acKounls. 2.3 Income All income Is re¢ognlsed once the Company has entitlement to the income, it is probable that the income will be received and the amount of income re1vable can b8 measured reliably. For donations to be recognisèd the Charily will have been nollfied of the amounts and the settlement date. If there are conditions attached to the donation and this requires a level of performance before entitlement Can be obtained then Income Is deferred until those conditions are fulty met or the fulfillment of those conditions is within the control of the Charity and it 18 probable that they wlll be fulfilled. Donated faciif(ies and donated professlonal seNlces are recognised in income at their fair value when their economic benefit is probable, it can be measUd reliably and the Charlty has control over the Item. Fair value 15 determined on the basis of the value of the gift to the Charity- For example the amount the Charity would be willing to pay in the open market for such facllltles and services. A correspondlng amount Is recognised in expenditure. No amount is includ8d in the financial stst8ments for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees, Annual Report, Page 15
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limited by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (contlnued) 2.3 Incomo Icontlnuod Where practlcable, glfts In klnd donated for dlstrfbutlon to the beneflGlarles of the Charlty are Induded in donations in Ihe financial slatements upon receipt. If it is impradicable to assess the fair value at rec8iPt of if th8 Costs to undertake Such a valuation oulw8igh any benefits, then the falr value is recognised as a component of donations when it is distributed and an equivalent amount recognised as Charitable expenditure. Fixed assèt gifts in kind are re¢ognis8d wh8n r8c8ivabl8 and ara included at fair valuè. Th8y ar8 not deferred over the Ilfe of the asset. Incom8 from government and other grant8 are recognlsed at fair value when the Chaity has entitlement after any performance conditions have been met, it is probable that the income will be rec61v6d and the amount can be measured rellably. If entitlement Is not met then these amounts are deferred. Investment Income Is earned through holdlng assets for Investment purposes. It includes dividends, int8r8St and rent. It is included when th8 amount can b8 m8asur8d reliably. Interest Income Is recognised using the effective interest method and dividend and rent income is recognised as the Charity's right to receive payment 18 eslablished. other income includes income such 88 gains on disposals of tangible fixed a$8et8. Grants ar8 included in the Statement of Financial Activities on a receivable basis. The balance of Income recelved for 8peclfic purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included Sn creditors ag deferred income. Where entlllement occurs before income is received, the income is accrued. 2.4 Exp•ndlturo Expenditure is recognised once there is a legal or constructive obligation lo transfer econom1¢ benefft to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is dassified by activity. The Costs of each activily are made up of the total of direct costs and shared costs, including suppori costs Involved In undertaklng each activity. Direct costs attributable to a single activity are allocated directly to that activty. Shared costs which contribute to more than one activity and support costs whlch are not attrlbutable to a slngle activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depr8ciation Charges allocated on the portlon of the asset's use. Expendlture on charltable actlvltles Is incurred on dlrectly undertaking the activrties which further the Compansls objectives, as well as any associated Support costs. All expenditure is inclusive of irrecoverable VAT. 2.6 Intoro8t recelvablo Interest on funds held on deposit 15 included when receivable and the amount can be measured reliably by the Company- this is normally upon notlfi¢atlon of the Interest pald or payable by the institution with whom the funds are deposited. Page 16
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ountlng pollclos Iconllnuod) 2.6 Taxatlon The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definitlon of a charitable company for UK corporation L2x purposes. Accordingty, the Company is potentially exempt from taxation in respecl of Income or capltal galns rec8iV8d within Categorles covered by Chapter 3 Part 11 of the Corporation Tax Ad 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the ext8nt that such income or gains are app118d exclu8ively to charitabl8 purposes. 2.7 Intanglble assets and amortl8atlon Intanglble assets are capit81ised and recognlsed when future economlc benetlts are probable. and the cost or value of the asset can be measured reliably. Intanglble assets are initially recognised al c05t. After recognition, under the cost model, intangible assets are measured at Cost less any accumulated amortlsatlon and any accumulated impalrmant losses. Provisions are made for impairment as required. Amortisation is provided on inlangible assets at rates calculated to wrlte off the cost of each asset on a stralghl-llne basls over ils expected useful life. Amortlsation is provided on the following basi8: Website 6 years 2.8 Tanglblo fix•d a#••ts and d•prnciatlon Tangible fixed assets costlng more than £500, are Inltlally recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciatlon and any accumulated Impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets lass their residual value over thelr estimated useful Iiv8S. Depreciation is provided on the following basis: Property improvements Fixlures and fittings Activities equlpment 50A straight Ilne 33% straight line 20% or 33% stralght Iln8 2.9 Debtor8 Trade and other deblors are recognised at the settlement amount after any trade dlscount offered. Prepayments are valued at the amount prepaid net of any trad8 discounts due. Page 17
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.10 Cash at bank and In hand Cash at bank and In hand indudes cash and short-term hlghly liquid investments wlth a short maturlty of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.11 Llabllltlos and prov181ons Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit wlll be requlred in settlement, and the amount of the settlement can be estimated reliably. Liabilities aré r8¢ognised at the amount that the Company anticipates tt will pay to settle the debt or the amount rt has rec8iv8d as advanced payments for th8 goods or s8riic88 it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the lime value of money is malerial. Ihe provision is based on the present value of those amounts, discountèd at the PraX discount rat8 that reflects thè risks Specif to the liability. The unwlndlng of the dlscount Is recognlsed In the Statement of Flnanclal ArAlvltles as e Ilnance cost. 2.12 Flnanclal In•trumgnts The Company only has financlal assets and financlal Ilabllltl65 of a klnd that quallfy as baslc llnanclal instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured at thelr settlement value wSth the exception of bank loans whlch are Subsequently measured at amortised cost using the effecliv8 interest method. 2.13 Operatlng leases Rentals paid under operating leases are charged to the Ststement of Financial Activities on a straight-line basis over the lease term. 114 P•nslon• The Company operates a defined contribution pension scheme and the pension charge represents the arnounts payable by the Company to the fvnd in respect of the year. 2.16 Fund aGcountlng General funds are unrestricted fund8 whlch are avallable for use at the discretion of the Trustees in fvrtherance of the general objectives of the Cornpany and which have not been designated for other purpos6s. Designated funds compri88 unrestrlcted funds that have been set aslde by the Truste88 for partlcular purposes. The aim and use of each designated fund is set out in the notes to the finanual Statements. Restrlcted funds are funds whlch are to be used in accordance vAth speclfic restrlctlons Imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restriGted fund 15 set out in the notes to the finanaal statements. Investrnent income, gains and losses are allocated to the appropriate fund. Page 18
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limfted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Donations and legacl R•stri¢led Unre8trlcted funds fund8 2024 2024 Total funds 2024 Total fvnds 2023 Donatlons Other grants 5.118 26,858 60,321 17,667 66.439 44,625 4.054 14,430 Totsl 2024 31,976 77.988 109.964 18,484 Tot812023 3,31XI 15. 184 18,484 Income from charltable a¢tlvltles Unrostrictsd funds 2024 Total funds 2024 Total funds 2023 Centre activities 614,505 614,505 644,434 Invo8tm•nt Income Unrostrlcted fund8 2024 Totsl funds 2024 Total funds 2023 Bank interest received 5.314 5.314 Page 19
LEICESTER OUTDOOR PURSUITS CENTRE IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Other incoming resources Unrostrlctod funds 2024 Total funds 2024 Tot81 funds 2023 Other Income 4.049 4,049 7,593 Analy818 of expondlturn on ¢harlt•blo acllvltle Summary by fund typo RMtrlcted UnM8trl¢tad fund• fund• 2024 2024 Total 2024 Total 2023 Centre activities Admini8tration 33,883 20,753 358,515 227.197 392,398 247,9SO 370,095 204,991 Total 2024 54,838 585.712 640,348 575,086 Total 2023 38,757 536,329 575,086 Analy818 of •xpondltur• by actlvltl Support costs 2024 Total funds 2024 Total runds 2023 Dlrect ¢osts 2024 Centre activities Administration 340,927 239,045 51,471 8,905 392A98 247,950 370,095 204,991 Tolal 2024 579,972 60.376 640.348 575,086 Total 2023 513,008 62,078 575,086 Page 20
LEICESTER OUTDOOR PURSUITS CENTRE IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analy318 of expenditure by actlvltles {contlnued) Analysls of dlrect costs Centre activiti08 2024 Admln costs 2024 Total nd8 2024 Tot81 funds 2023 Staff costs Freelance Snstructors. tutors, advisers and intems Training Unrfomis Legal and professlonal Transport Repalrs and malntenance SSte maintenance General office expense8 Activity delivery costs Advertising and publicty Licenses and membershlps Inspection fees Insurance Bank charge8 Sundry Refreshments Shop 224,904 229,882 464,786 395,421 23,908 6,123 5,364 5,806 8,810 9,31)0 7.013 23,908 8.123 5,364 6,806 6.810 9.300 7.013 9,163 26,467 760 3,345 3,338 5,495 2,709 629 8,872 94 14,140 3,826 3,018 2,499 3,904 6,909 7,263 7,607 33,113 1,266 2.967 2,262 13,298 4,942 175 8,602 1.196 9,163 26,467 750 3,345 3,338 5,495 2,709 629 8,872 94 Total 2024 340,927 239,045 579.972 513,008 Tot812023 315.599 197.409 513,008 Page 21
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of •xpondituro by activities (contlnu•d) Analy818 of support Costs Centro a¢tlvltle8 2024 Admin ¢osls 2024 Total funds 2024 Total funds 2023 Govèrnance costs Premises costs Depreciation Amortisation 6.327 2,578 6.327 25,784 28,265 5,925 17, 183 38, 757 213 23,206 28,265 Total 2024 51,471 8,905 60.378 62,078 Total 2023 54,496 7,582 62,078 Governance costs 2024 2023 Fees payable to the Companws independent examiner for the independent examlnatlon of the Compansls annual a¢Gounts 6,700 5,222 Insurance 627 703 10. Staff costs 2024 2023 Wages and salari88 Social security costs Contributlon lo defined contribution penslon schemes Fre81ance instructors, tutors. advisors and intems 420,227 24,213 10,346 23,908 368, 781 18,511 8, 129 14, 140 478.694 409, 561 Page 22
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limited by Guarantee> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Staff costs Icontlnued) The average number of persons employed by the Company, excluding freelance instructors, tutors, advisors and int8rims. during the year was as follows: 2024 2023 Employees Trustees 26 34 34 No employee received remuneralion amounting to more than £60,000 in altr yéar. Durlng the period, totsl key management personnel cornpensatlon of £214,554 (2023 - 181,845) was paid. 11. Tru$t••8' romuneration and •xpon808 During the y8ar, no Trustees received any remuneratlon or oth8r benefits (2023 - £NIL). During the year ended 31 March 2024, no Trustee expenses have been incurred (2023- £NIL). 12. Intanglble assets Web•lte Colt At 1 April 2023 22,463 At 31 March 2024 22.453 Amortlsallon At 1 April 2023 22,4S3 Al 31 March 2024 22,453 Net book value At 31 March 2024 At 31 Math 2023 Page 23
LEICESTER OUTDOOR PURsurrs CENTRE (A Company Limited by Guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Tang5ble fixod a¥¥ets Property Fixtures and Improvements rIng$ AclivitiO9 oquipment Totsl Cost or valuatlon At 1 Apdl 2023 Addltions 214,389 15.046 40.668 7,063 163,001 3.920 408,068 26.029 At 31 March 2024 229A35 47.731 156,921 434,087 Dopraclatlon At 1 April 2023 Charge for the year 72,368 10,896 29,S46 6.116 125,054 11.253 226,966 28,26S At 31 March 2024 83.261 35,662 136.307 255,230 Net book value At 31 March 2024 146,174 12.069 20.614 178.857 At 31 March 2023 142,024 11,122 27,947 181,093 Debtor8 2024 2023 Duo within one year Pr8paym8nts and accrued income 10,943 12,320 10,943 12,320 Page 24
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Llmited by Guarnntee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Current asset investsnents 2024 2023 Unlisted investrnent8 255,000 Current asset Investments consists of 12 to 24 month fixed Int8r8St rate deposlts wlth United Trust Bank, Cambridge & Counties Bank and Saffron Buikling Society at inter8St rates varying beeen 4.15% and 4.P/o. 16. Crodltorn: Amounts falllng due wlthln one y•ar 2024 2023 Trade creditor8 Accruals and deferred Income 1,363 48,080 40,717 40,717 49,443 2024 2023 Deferred income at 1 Aprll Resources deferred during the year Amounts re16ased from previous periods 23.202 14.907 (23,202) 19, 149 23, 202 (19, 149) Dof•rred Incomo at 31 March 14,907 23, 202 Page 25
LEICESTER OUTDOOR PURSUITS CENTRE IA Gompany Limitsd by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Statsment of funds Statrmont of fund¥ - current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Transfer8 inlout Income Expendlture Unrn8tr1cted fund8 Doslgnat•d fund$ High Ropes and Centre Development 200,000 1 $0,000 350,000 G•n•ral fund$ General funds 214,660 701,866 (585.7121 1166,918) 183,876 Total Unro8trlctod fund¥ 414.650 701,856 {586,712) 116,9181 513.876 Rgstrl¢t•d fund$ Bailey Charity Grant Mosaic Kata-Kanu Session Julla and Han$ Rausing Grant Rothen- Dlsablllty Support Funded Sessi¢)n Sea Bin Outdoor Classroom & A88ociated Facilities Women's Group (SEN 1-2-1) Lei¢est8rshire, Leic8Ster and Rutland- Gids Can Stong8r Together Fund 4.719 250 23,066 14.719) 1250 (20,166 (2.900) 1,000 3,145 500 1,500 3.145 2,800 24,239 1.379 11N92 25,$47 1,032 1347) 868 5,000 16181 15,0001 240 34,970 31.976 126.371) 31,464 Page 26
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limited by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Statsment of fundg (Gontinuod) Fixed a8Sèt fund Capital a888t fund 181.093 128.2651 26,029 178.851 Total R•strfctsd funds 216.063 31,976 (54,036) 16,918 210.321 Total of fund8 630.713 733.832 (640,348) 724.197 Unre8trf¢tod funds Unrestricted funds are available for use at th8 dlscr8tlon of th8 Trustees in further8nce of the general oblecllv88 of th8 Charity and which have not been designated for other purposes. Durlng the year £16,918 was transferred from unrestricted to restrfcted tlxed asset funds for the purchase of fixed assets. Deg1gnal•d funds De$lgnated funds comprise unrestricted funds that have been set a51de by the Trustees for partlculata purposes. The aim and use of each deslgnated fund Is Set out in the notes to the finanrial statements. Ro•trlctsd fund• The Bailey Charlty Grant relates to the funding of refurbishments of the thanglng rooms and Showers, Ihe balance was transferred to the restricted fixed asset fund In the year towards the addition of the related Qapilal a88et8. The Mosalc Kata.Kanu Sesslon fund relates to the fijnding of a Mosalc sesslon whlch was spent In fvll In the year. The Julia and Han3 Rau81ng Grant relates to the furKling of core and overhead cost$ incurred by the Char5ty. This fund was spent in full in th8 year. The Roth8n - Disability Support Funded Session relates to the fundlng of support for disability activities carried out by the Charlty. The Sea Bin relates to the purchase and installation of a sea bin, and other costs associated with the dear up of the river. The Outdoor Classroom and associated facllftles relat88 to the maintenance of the ouldoor classroom and assoclated falitIeS. The Thls Glrl Can grant income is a Sport England nationwide campaign to get women and glrls movlng, regardless of shape, size and abllity. The Stronger Together Fund relates to income received from Paddle UK to support paddling projects focused on fostering inclusive paddling communities and supportlng more people to get out on the water. The grant funding was spent In full In the year. Page 27
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Ststement of funds (continued) Statement of funds - prlor year Balance at 31 March 2023 Balancg at 1 Aprfl 2022 Transfers In/out Gains/ (Lo88e8) Income Expendlture Unrestrlctsd funds D8$lgnated fund8 High Ropes and Centre Development 128.000 72,000 200,000 G•n•rnl funds General funds 169,609 668,013 (536,329) (82,643) 214,650 Total Unrestrfctsd fund• 293,609 668,013 (536,329) (82,643) 72,000 414,650 Restrlctsd fund• Balley Charity Grant M05aic Kata- Kanu Session Julia and Hans Rausing Grant Rothen - Disability Support Funded Session Sea Bin Wheelchair Absell Maintenanc Outdoor Classroom & Associated Facilities 4,719 4,719 250 250 42,646 (19,590) 23,056 500 3, 145 500 3, 145 154 (154) 2,800 2,80Q 51,414 3,300 (19, 744) 34,970 Pag8 28
LEICESTER OLrrDOOR PURSUITS CENTRE (A Company Limitod by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Statsment of funds (continued) Flxod asset fund Capital asset lund 189,463 (38, 757) 30,387 181.093 Total Restricted funds 240.877 3,300 (38, 757) 10,643 216.063 Totsl of funds 534,486 671,313 (575,086) (72.000) 72,000 630, 713 18. Analysls of net ag¥9ts botwoon funds Anal18 of ngt a$•ets botweon funds . curr•nt perlod Rostrfcted Flxod a•8et Unrgstrl¢tod funds fund• fund* 2024 2024 2024 Total fund9 2024 Tangible fixed assets Current assets Cre(litors due wlthln one year 178.857 178,857 586,057 140,71n 31,464 554,593 (40,71n Total 31,464 178,857 513,878 724197 Analy819 of net a880ts b•tw•8n funds - prlor perfod Restricted Fixed asset Unrestrtcted lunds funds funds 2023 2023 2023 Total funds 2023 Tangible fixed assets Current assets Credilors due within one year 181,093 181,093 499,063 (49.443) 34,970 464,093 (49,443) Total 34,970 181,093 414,650 630, 713 Page 29
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limitsd by Guarantoe NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. Reconciliatlon of net movement In funds to net Cash flow from operallng activitles 2024 2023 Net income for the period (as per Statement of Financial Activitias) 93.484 96.227 Adjustments for: Dapraclatlon charge8 Amortisatlon charges Int8r88t received Decrease in debtors Increasel(decrea8e) in cr8dltor8 28,265 38,757 213 (802) 8, 729 5,652 16,314) 1,377 {8,726 Not ¢a•h provld•d by operatlng actlvltle• 109,086 148, 776 20. Analy818 of cash and ca8h oquivalants 2024 2023 Cash in hand 320,114 486, 743 Total ca8h and cash equlvalents 320,114 486, 743 21. Anatyglg of change• In net debt At 1 Aprfl 2023 Cash flow8 At 31 MaKh 2024 Cash at bank and in hand Liquid investments 486.743 (166,629) 266,000 320,114 256,000 486,743 88,371 576,114 22. Penslon commitments The Charity operates a defined contributions pensions scheme. The assets of the scheme are held separatety from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £9.781 (2023 - £7.534). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the reporting date. Page 30
LEICESTER OUTDOOR PURSUITS CENTRE (A Company Limited by Guaranteo NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23. Operatlng lease commitmonts At 31 Marth 2024 the Company had ¢ommltments to make future minimum lease payments under non- cancellable operallng leases as follows: 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 6,816 17,378 3.096 8,484 24,194 11,580 Rolat•d party transa¢tlons Durlng the prbr y8ar th8 Charity invoiced Mosaic 1898 Ltd, a Charltable Company In which Trustee Karen Cane was also a Trustee to 23 January 2023, for room hire and adivities totalling £19,226. The transactlons were carried out at arm's length and in accordance wtth the charitls activities and objectives. 25. Legal 8tatU8 of tho Charlty The Chaiity is a Company limited by guarantee and has no sharo capital. The liabilty of each Trustees member in the event of wlnding up is limited to £1. Page 31