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2020-12-31-accounts

Company registration number: 03193408 Charity registration number: 1080941

Stubbers Adventure Centre

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2020

Edmund Carr LLP Chartered Accountants & Statutory Auditor 146 New London Road Chelmsford Essex CM2 0AW

Stubbers Adventure Centre

Contents

Reference and Administrative Details 1 to 2
Trustees' Report 3 to 10
Independent Auditors' Report 11 to 15
Consolidated Statement of Financial Activities 16
Consolidated Balance Sheet 17
Balance Sheet 18
Consolidated Statement of Cash Flows 19
Notes to the Financial Statements 20 to 40

Stubbers Adventure Centre

Reference and Administrative Details

Chairman John Hooper Trustees Robert Edwards (resigned 16 December 2020) Abigail Hooper John Hooper Rev Andrew Drake (appointed 19 August 2020) Secretary John Hooper Senior Management Team Robert Edwards, Centre Manager Amy Holdsworth, Head of Centre Andy White, Head of Activities Ben Woodcock, Head of Operations Principal Office Ockendon Road Upminster Essex RM14 2TY Registered Office 146 New London Road Chelmsford Essex CM2 0AW The charity is incorporated in England.

Page 1

Stubbers Adventure Centre

Reference and Administrative Details

Company Registration Number 03193408 Charity Registration Number 1080941 Solicitors Gepps Solicitors 58 New London Road Chelmsford Essex CM2 0PA Bankers NatWest Bank plc 18 Station Road Upminster Essex RM14 2UD Lloyds Bank 88/89 High Street Chelmsford Essex CM2 0PA Auditor Edmund Carr LLP Chartered Accountants & Statutory Auditor 146 New London Road Chelmsford Essex CM2 0AW

Page 2

Stubbers Adventure Centre

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 December 2020. This is also the directors' report, as required by s415 of the Companies Act 2006.

Objectives and activities

Objects and aims

The primary object of the charity is to develop by education, example and the provision of a disciplined environment the physical, mental and spiritual capacities of children and young people to enable them to grow to full maturity as individuals and become respectable and responsible members of the community.

Objectives, strategies and activities

Stubbers provides a year round facility for outdoor adventure and personal development programmes. The centre provides accommodation and activity programme support for groups of young people who are accompanied and led by their own leaders/teachers.

The provision of accommodation both in tents and in the residential building enables youth organisations and support groups to carry out their own residential training programmes.

A typical day will have four 90 minute activity sessions. Participants have a choice of twenty-six different activities covering land based and water based activities. All activities are delivered by instructors trained to a minimum of the industry standard instructing qualification for each activity. The centre has recognition from the Royal Yachting Association (RYA), the British Canoe Union (BCU) and holds the AALS license. Recent recognition has been achieved through the “Adventure Mark”, “Learning Outside the Classroom” and the Duke of Edinburgh (DOE) Award Expedition assessor accreditations.

Stubbers aims to develop young leaders and outdoor activity instructors from the young clients that enjoy the centre. In 2020 we were unable to run a programme of young volunteers due to Covid restrictions.

Public benefit

Adventurous activities are used as a means to encourage young people to discover their potential and to begin to take responsibility for the well-being of both other people and themselves.

The charity also exists for the benefit of the local community through the provision and maintenance of an open access park.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 3

Stubbers Adventure Centre

Trustees' Report

Grant making policies

The Bursary Fund

The Bursary Fund exists to assist groups and individuals unable to afford the full cost of a visit due to financial disadvantage or when, due to disability, additional staffing support or specialised equipment is required. The fund is created through appeals for grants and donations for this purpose. In 2020 the fund the charity received £3,725 for the general bursary fund. £ 2,560 directly subsidised individuals and group visits to the centre in 2020. The balance is carried forward to the bursary fund 2021.

The Essex Youth Trust provides a dedicated bursary fund for visits to Stubbers by charities working with children in the diocese of Chelmsford. In 2020 we received £ 45,000 from the trust. Due to covid restrictions on residential visits £ 29,302 of awards were made to primarily day visits. The balance remaining £ 15,698 was put towards the purchase of an undercover activity marquee with the kind permission of the trust.

Bursary Grants may be awarded by the trustees and within the criteria described above at the discretion of the Centre Manager. Beneficiaries are required to apply in writing and a record is kept of the application and the centre’s response. Bursaries will normally be made for no more than 50% of the total cost of the visit. Allocation of Grants is subject to scrutiny by the management accountant with each bursary award reconciled with an appropriate booking / invoice.

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Stubbers Adventure Centre

Trustees' Report

Achievements and performance

The bookings landscape in 2020 was dominated by shutdowns in regard to the coronavirus. Due to restrictions imposed by the Department of Education on residential visits there was only the one week residential providing for 18 young people over 5 days in the summer.

Working within HM Gov regulations and guidance the centre was able to provide a service to individuals and bubbles for individual experiences and activity days. Hot weather and a surge in the popularity of water sports ensured a steady stream of visitors keen to enjoy adventurous activities.The breakdown of day visits was as follows:

Schools and Groups days 2,080 (2019 - 37,808) Weekend Youth Festivals 0 (2019 - 1,200) Family Days 400 (2019 - 1,375) Individual activity sessions estimate 3,500+ (2019 - 2,246) Holiday Activity Camps days 3,246 (2019 - 8,289) Birthday Parties sessions 0 (2019 - 3,371)

Total 9,226 (2019 - 54,507)

Associated Activities: In addition to the above the centre stayed open wherever shutdowns permitted for individual exercising and use of the coffee shop

Facility Improvements

In July The Veolia Environmental Trust made a grant of almost £1 million towards park improvements including a refurbished car park new Welcome Centre, Adventure Play Park, Forest Discovery Trail, Picnic shelters and Artificial Caving System. Works began in October 2020 with the aim to have completed all projects prior to reopening the centre in the new year 2021.

Financial review

The group financial statements to 31 December 2020 show a surplus of £126,699 compared to a deficit of £20,165 in 2019. Group income has decreased by £434,462 in total. The impact of enforced closures in the year due to the pandemic is reflected in the reduction in the Charity’s activities income. However, a substantial grant was received in the year to provide new Adventure Park facilities, which opened in April 2021. Expenditure has also decreased compared to last year by £581,326. Forward planning for 2021 was originally to achieve at least break even on general funds, however, the achievement of this goal has been delayed by the on-going effects of the pandemic.

For a part of the year there was a reliance on advance payments to maintain cash flow.

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Stubbers Adventure Centre

Trustees' Report

Policy on reserves

Due to the effects of the pandemic, group general funds at 31 December 2020 were in deficit with a balance of (£541,191), although the group’s total funds were £492,876. The charity's target reserves policy is to hold free reserves of £200,000. Although achieving this will be delayed due to the effects of the pandemic, the Trustees are confident it can be achieved in the longer term through a combination of increased fees and additional bookings, together with continued tight controls over expenditure. The new Adventure Park facilities also now provide an additional revenue stream for the group.

Investment policy and objectives

The Centre has not, to date, held sufficient funds to warrant investment.

Plans for future periods

Aims and key objectives for future periods

The Trustees are committed to the long term development of the centre. The lease on the centre expired March 2017. Negotiations continued in 2018 with the lease finally being signed on the 31st July 2019 at a rent of £75,000 pa and a term of 25 years from March 2017.

With the lease in place the trustees can now focus on the long term plans for the charity and fund raising.

Structure, governance and management

Nature of governing document

The organisation is governed by its Memorandum and Articles of Association.

Recruitment and appointment of trustees

The number of Trustees should not be less than three but is not subject to any maximum.

The board and Centre Manager use professional networks to identify potential trustees. Candidates are invited to provide a CV and invited for initial interview with the Chair of Trustees prior to presentation to the board for approval. Appointments to the board ensure there is the breadth of experience, age, gender and specialist skills required for good governance.

Induction and training of trustees

Trustees are kept up to date on developments and policies relating to the charity through briefings by the management team. Legal advice when required is provided by Gepp & Sons.

Arrangements for setting key management personnel remuneration

The charity has a pay scale structure which is reviewed and approved annually by the Board of Trustees. Pay scales are set with benchmarks from Reed.co.uk and www.payscale.com for equivalent posts in the outdoor sector and for teaching professionals, with regard to the higher cost of living in the outer London area. The Centre Manager's remuneration is set by the Board of Trustees with reference to remuneration of a Head Teacher of a medium size school and Chief Executive of an equivalent Charity in the outer London area.

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Stubbers Adventure Centre

Trustees' Report

Organisational structure

The Centre Manager is appointed by the Board of Trustees to manage the day-to-day operations of the Charity. Strategic and risk decisions are taken by the board. There is day to day contact between one or more of the trustees and the Centre Manager.

Objectives and budget for the year are set annually by the trustees. The Centre Manager will make executive decisions throughout the year based on those objectives. Any change to the plan or expenditure outside of the budget is referred back to the trustees.

The staffing levels of the charity are as follows:

Management (4) Centre Manager, Head of Activities, Head of Centre, Head of Operations, Administration (6) Finance, programming, Customer Services and sales Fund Raiser (1) Part time post

Maintenance (5) Maintenance Manager, assistants x 2, and head Cleaner and assistant cleaner Full Time Instructors (9) January to December Part time Instructors (61) April to September Adult Volunteers (12) Grounds Maintenance x 1,Conservation Team Leader + 10 volunteers

Relationships with related parties

Stubbers Training Limited

Stubbers Training Limited (registered company number 3755730) exists to raise funds for Stubbers Adventure Centre through the delivery of adult training programmes and other non-charitable activities and is under the control of the Trustees of Stubbers Adventure Centre.

Page 7

Stubbers Adventure Centre

Trustees' Report

Major risks and management of those risks

Risks related to effective and efficient management of the Centre’s resources, both human and financial, are monitored by the trustees who meet on a regular basis to receive reports from the responsible managers.

Financial Risk – Regular review of financial resources and controls minimises potential threats posed by unexpected economic factors. The mechanisms in place include:

Budgetary control and reporting - The Centre Manager prepares annual budgets forecasting monthly cash flows on an annual basis in accordance with development plans. These form comparatives against actual reports delivered to the trustees four times annually. Annual accounts are prepared in accordance with appropriate accounting requirements, which are audited, approved by the trustees and distributed to members together with a written review.

Cash flow sensitivity analysis – Cash flow performance is continually monitored to ensure adequate funding of activities at all times, and that cash resources are efficiently managed. The principal risk to the Centre lies in the reliability of bookings. Bookings are tracked and regulated to ensure that in any one month the centre is not put at risk by one single booking or client.

Dependency checks on income sources – The Centre is not dependent on fundraising for the running costs of the centre. The Centre has, and continually seeks to enlarge, a substantial portfolio of benefactors and supporters who would be able to assist with new projects, equipment, building and the funding of additional posts that support the charitable aims of the Centre. A Fund Raising Executive is employed to raise funds for such purposes.

Insurance – Indemnity and liability insurance appropriate to the Centre's activities continues to be obtainable. The current insurer is the Activities Industry Mutual, a specialist in adventure activity delivery. The consequences of potential excessive claims is minimised by effective awareness and prevention training.

Page 8

Stubbers Adventure Centre

Trustees' Report

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Stubbers Adventure Centre for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Reappointment of auditor

The auditors Edmund Carr LLP are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Page 9

Stubbers Adventure Centre

Trustees' Report

Small Companies Provision Statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

The annual report was approved by the trustees of the charity on 28 October 2021 and signed on their behalf by:

......................................... John Hooper Chairman and Trustee

Page 10

Stubbers Adventure Centre

Independent Auditor's Report to the Members and Trustees of Stubbers Adventure Centre

Opinion

We have audited the financial statements of Stubbers Adventure Centre (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 December 2020, which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees' report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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Stubbers Adventure Centre

Independent Auditor's Report to the Members and Trustees of Stubbers Adventure Centre

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act 2011 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 9), the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group's and parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

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Stubbers Adventure Centre

Independent Auditor's Report to the Members and Trustees of Stubbers Adventure Centre

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows; • The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

• We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the charity sector.

• We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations for the company, including the Companies Act 2006, tax legislation and data protection, anti-bribery, employment, environmental and health and safety legislation. • We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by;

• Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud.

• Considering the internal controls in place to mitigate the risks of fraud and non-compliance with laws and regulations

To address the risk of fraud through management bias and override of controls, we;

• Performed analytical procedures to identify any unusual or unexpected relationships

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Stubbers Adventure Centre

Independent Auditor's Report to the Members and Trustees of Stubbers Adventure Centre

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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Stubbers Adventure Centre

Independent Auditor's Report to the Members and Trustees of Stubbers Adventure Centre

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... Colin Andrew Barker FCA (Senior Statutory Auditor) For and on behalf of Edmund Carr LLP, Statutory Auditor

Edmund Carr LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

146 New London Road Chelmsford Essex CM2 0AW

29 October 2021

Page 15

Stubbers Adventure Centre

Consolidated Statement of Financial Activities for the Year Ended 31 December 2020

(Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Other income
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
24		 Unrestricted
funds
£
4,723
447,167
151,854
119
244,759
848,622
387,729
1,287,060
1,674,789
(826,167)
(1,602)
(827,769)
286,578
(541,191)		 Restricted
funds
£
1,011,152
-
-
-
-
1,011,152
-
58,286
58,286
952,866
1,602
954,468
79,599
1,034,067		 Total
2020
£
1,015,875
447,167
151,854
119
244,759
1,859,774
387,729
1,345,346
1,733,075
126,699
-
126,699
366,177
492,876		 Total
2019
£
85,515
1,963,685
197,817
412
46,807
2,294,236
170,443
2,143,958
2,314,401
(20,165)
-
(20,165)
386,342
366,177

All of the group's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 24.

Page 16

Stubbers Adventure Centre

(Registration number: 03193408) Consolidated Balance Sheet as at 31 December 2020

Note
Fixed assets
Intangible assets
14
Tangible assets
15
Current assets
Stocks
17
Debtors
18
Cash at bank and in hand
19
Creditors: Amounts falling due within one year
20
Net current (liabilities)/assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
21
Net assets
Funds of the group:
Restricted income funds
Restricted funds
24
Unrestricted income funds
Unrestricted funds
Total funds
24		 2020
£
6,667
967,244
973,911
1,777
526,486
227,288
755,551
(769,919)
(14,368)
959,543
(466,667)
492,876
1,034,067
(541,191)
492,876		 2019
£
-
256,711
256,711
1,600
32,403
425,444
459,447
(349,981)
109,466
366,177
-
366,177
79,599
286,578
366,177

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

The financial statements on pages 16 to 40 were approved by the trustees, and authorised for issue on 28 October 2021 and signed on their behalf by:

......................................... John Hooper Chairman and Trustee

Page 17

Stubbers Adventure Centre

(Registration number: 03193408) Balance Sheet as at 31 December 2020

Note
Fixed assets
Tangible assets
15
Investments
Current assets
Stocks
17
Debtors
18
Cash at bank and in hand
19
Creditors: Amounts falling due within one year
20
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
21
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
24
Unrestricted income funds
Unrestricted funds
Total funds
24		 2020
£
936,063
2
936,065
512
625,527
189,224
815,263
(713,197)
102,066
1,038,131
(466,667)
571,464
1,034,067
(462,603)
571,464		 2019
£
245,017
2
245,019
1,600
32,403
339,638
373,641
(430,501)
(56,860)
188,159
-
188,159
79,599
108,560
188,159

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

The financial statements on pages 16 to 40 were approved by the trustees, and authorised for issue on 28 October 2021 and signed on their behalf by:

......................................... John Hooper Chairman and Trustee

Page 18

Stubbers Adventure Centre

Consolidated Statement of Cash Flows for the Year Ended 31 December 2020

Note
Cash flows from operating activities
Net cash income/(expenditure)
Adjustments to cash flows from non-cash items
Depreciation
8
Amortisation
8
Investment income
6
Working capital adjustments
Increase in stocks
17
Increase in debtors
18
Increase/(decrease) in creditors
20
Increase in deferred income
21
Net cash flows from operating activities
Cash flows from investing activities
Bank interest receivable
6
Purchase of intangible fixed assets
14
Purchase of tangible fixed assets
15
Sale of tangible fixed assets
Net cash flows from investing activities
Cash flows from financing activities
Income from loans and borrowings
20
Net decrease in cash and cash equivalents
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December		 2020
£
126,699
113,437
3,333
(119)
243,350
(177)
(494,083)
203,765
182,840
135,695
119
(10,000)
(835,209)
11,239
(833,851)
500,000
(198,156)
425,444
227,288		 2019
£
(20,165)
129,237
-
(412)
108,660
-
(17,165)
(121,303)
40,908
11,100
412
-
(45,446)
-
(45,034)
-
(33,934)
459,378
425,444

All of the cash flows are derived from continuing operations during the above two periods.

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Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

1 Charity status

The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Stubbers Adventure Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the charity and its subsidiary undertakings drawn up to 31 December 2020.

No statement of financial activities is presented for the charity as permitted by section 408 of the Companies Act 2006. The charity made a surplus for the financial year of £205,281 (2019 - deficit of £198,183). These figures exclude the transfer of profits from Stubbers Training Limited.

A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

Inter-company transactions, balances and unrealised gains on transactions between the charity and its subsidiaries, which are related parties, are eliminated in full.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group.

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Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

Going concern

The trustees have considered the impact of the Covid-19 pandemic in their assessment of the charity’s ability to prepare accounts as a going concern. Because of the uncertainties surrounding the effects of the pandemic restrictions it is difficult to predict the impact on the charity and its beneficiaries, but having taken all the factors into account, the directors are of the opinion that the charity has sufficient resources to continue trading for the next 12 months from the date of signing these accounts.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the group has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Page 21

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Goodwill

Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Tangible fixed assets

Individual fixed assets costing £1,000 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class Goodwill

Amortisation method and rate 3 years straight line

Page 22

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Leasehold property Plant and machinery Motor vehicles

Depreciation method and rate 5 or 10 years straight line 3 to 5 years straight line 4 years straight line

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the group.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Page 23

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

Pensions and other post retirement obligations

The group operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Page 24

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

3 Income from donations and legacies

Income from donations and legacies
Donations bursary funding
General donations
Essex Youth Trust Grant
Capital grants
Donations bursary funding
General donations
Essex Youth Trust Grant
Capital grants
Income from charitable activities
Activities and courses
Camping, accommodation and catering
Activities and courses
Camping, accommodation and catering		 Unrestricted
funds
£
2,523
2,200
-
-
4,723
Unrestricted
funds
£
16,128
11,350
-
-
27,478
Unrestricted
funds
£
419,995
27,172
447,167
Unrestricted
funds
£
1,434,006
529,679
1,963,685		 Restricted
funds
£
-
-
45,000
966,152
1,011,152
Restricted
funds
£
-
-
46,500
11,537
58,037
Restricted
funds
£
-
-
-
Restricted
funds
£
-
-
-		 Total
2020
£
2,523
2,200
45,000
966,152
1,015,875
Total
2019
£
16,128
11,350
46,500
11,537
85,515
Total
2020
£
419,995
27,172
447,167
Total
2019
£
1,434,006
529,679
1,963,685

4 Income from charitable activities

Page 25

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

5 Income from other trading activities

Subsidiary trading income
Subsidiary trading income
6
Investment income
Interest receivable on bank deposits
Interest receivable on bank deposits		 Unrestricted
funds
£
151,854
151,854
Unrestricted
funds
£
197,817
197,817
Unrestricted
funds
£
119
119
Unrestricted
funds
£
412
412		 Restricted
funds
£
-
-
Restricted
funds
£
-
-
Restricted
funds
£
-
-
Restricted
funds
£
-
-		 Total
2020
£
151,854
151,854
Total
2019
£
197,817
197,817
Total
2020
£
119
119
Total
2019
£
412
412

Page 26

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

7 Other income

Furlough grants charity
Furlough grants subsidiary
Other Income
Rental income
Gains on sale of tangible fixed assets
Other income
Rental income
Gains on sale of tangible fixed assets		 Unrestricted
funds
£
187,960
42,622
5,442
5,675
3,060
244,759
Unrestricted
funds
£
4,617
28,662
13,528
46,807		 Restricted
funds
£
-
-
-
-
-
-
Restricted
funds
£
-
-
-
-		 Total
2020
£
187,960
42,622
5,442
5,675
3,060
244,759
Total
2019
£
4,617
28,662
13,528
46,807

8 Expenditure on raising funds

a) Costs of generating donations and legacies

Marketing and publicity
Staff Costs		 Unrestricted
funds
£
106,881
11,339
118,220		 Restricted
funds
£
-
-
-		 Total
2020
£
106,881
11,339
118,220		 Total
2019
£
135,114
10,210
145,324

Page 27

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

b) Costs of trading activities

b) Costs of trading activities
Unrestricted
funds
£
Trading subsidiary costs
258,227
Depreciation, amortisation and other
similar costs
11,282
269,509
9
Expenditure on charitable activities		 Restricted
funds
£
-
-
-		 Total
2020
£
258,227
11,282
269,509		 Total
2019
£
19,351
5,768
25,119
Note
Activities and courses
Camping, accommodation and catering
Depreciation and amortisation
Staff costs
Governance and support costs
10
Note
Activities and courses
Camping, accommodation and catering
Depreciation and amortisation
Staff costs
Governance and support costs
10		 Unrestricted
funds
£
451,942
19,797
82,657
686,190
46,474
1,287,060
Unrestricted
funds
£
628,524
226,171
87,204
1,062,388
57,559
2,061,846		 Restricted
funds
£
28,506
-
29,780
-
-
58,286
Restricted
funds
£
45,847
-
36,265
-
-
82,112		 Total
2020
£
480,448
19,797
112,437
686,190
46,474
1,345,346
Total
2019
£
674,371
226,171
123,469
1,062,388
57,559
2,143,958

Page 28

Notes to the Financial Statements for the Year Ended 31 December 2020

Stubbers Adventure Centre

10 Analysis of governance and support costs

Governance costs

Fees paid to auditor
Audit of the financial statements
Legal and professional fees
Other governance costs		 Total
2020
£
12,739
24,695
9,040
46,474		 Total
2019
£
10,460
36,143
10,956
57,559

11 Trustees remuneration and expenses

The centre manager, Robert Edwards, was appointed as a Trustee on 3 October 2019 as an interim measure while governance was transferred from the Essex Boys' and Girls' Clubs to an independent board. He stepped down as a Trustee on 16 December 2020. He was paid £54,590 in his role as centre manager during the year. As centre manager he is also provided with accommodation.

No trustees have received any reimbursed expenses from the charity during the year.

12 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2020
£
637,482
47,975
12,072
697,529		 2019
£
998,614
61,389
12,595
1,072,598

Page 29

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

The monthly average number of persons (including senior management team) employed by the group during the year was as follows:

Instructors and staff
Administration
Management		 2020
No
44
6
5
55		 2019
No
57
6
5
68

No employee received emoluments of more than £60,000 during the year.

The total employee benefits of the key management personnel of the group were £174,223 (2019: £174,745).

13 Auditors' remuneration

Audit of the financial statements 2020
£
12,739		 2019
£
10,460

14 Intangible fixed assets

Group

Cost
Additions
At 31 December 2020
Amortisation
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020		 Goodwill
£
10,000
10,000
3,333
3,333
6,667		 Total
£
10,000
10,000
3,333
3,333
6,667

Page 30

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

15 Tangible fixed assets

Group

Cost
At 1 January 2020
Additions
Disposals
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
Eliminated on disposals
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019		 Land and
buildings
£
850,187
21,263
(52,508)
818,942
740,637
29,908
(41,606)
728,939
90,003
109,550		 Other
tangible fixed
asset
£
1,633,020
813,946
(85,740)
2,361,226
1,485,859
83,529
(85,403)
1,483,985
877,241
147,161		 Total
£
2,483,207
835,209
(138,248)
3,180,168
2,226,496
113,437
(127,009)
2,212,924
967,244
256,711

Included within the net book value of land and buildings above is £Nil (2019 - £Nil) in respect of freehold land and buildings and £90,003 (2019 - £109,550) in respect of leaseholds.

Page 31

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

Charity
Cost
At 1 January 2020
Additions
Disposals
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
Eliminated on disposals
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019		 Land and
buildings
£
850,187
21,263
(52,508)
818,942
740,637
29,908
(41,606)
728,939
90,003
109,550		 Other
tangible fixed
asset
£
1,570,245
785,609
(85,740)
2,270,114
1,434,778
74,679
(85,403)
1,424,054
846,060
135,467		 Total
£
2,420,432
806,872
(138,248)
3,089,056
2,175,415
104,587
(127,009)
2,152,993
936,063
245,017

Included within the net book value of land and buildings above is £Nil (2019 - £Nil) in respect of freehold land and buildings and £90,003 (2019 - £109,550) in respect of leaseholds.

Page 32

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

16 Fixed asset investments

Charity

Shares in group undertakings and participating interests

Cost
At 1 January 2020
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019		 Subsidiary
undertakings
£
2
2
2
2		 Total
£
2
2
2
2

Details of undertakings

Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:

Country of Proportion of voting Proportion of voting Principal
Undertaking incorporation Holding rights and shares held activity
2020 2019
Subsidiary undertakings
Training
Stubbers Training Limited England Ordinary 100% 100% activities for
adults

Page 33

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

17 Stock
Stocks
18 Debtors
Due from group undertakings
Prepayments
VAT recoverable
Other debtors
19 Cash and cash equivalents
Cash on hand
Cash at bank		 Group
2020
£
2019
£
1,777
1,600
Group
2020
£
2019
£
-
-
28,611
32,229
1,701
-
496,174
174
526,486
32,403
Group
2020
£
2019
£
3,781
735
223,507
424,709
227,288
425,444		 Charity
2020
£
2019
£
512
1,600
Charity
2020
£
2019
£
100,742
-
28,611
32,229
-
-
496,174
174
625,527
32,403
Charity
2020
£
2019
£
2,507
735
186,717
338,903
189,224
339,638		 Charity
2020
£
2019
£
512
1,600
Charity
2020
£
2019
£
100,742
-
28,611
32,229
-
-
496,174
174
625,527
32,403
Charity
2020
£
2019
£
2,507
735
186,717
338,903
189,224
339,638
339,638

Page 34

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

20 Creditors: amounts falling due within one year

Bank loans
Trade creditors
Due to group undertakings
Other taxation and social security
Other creditors
Pension scheme creditor
Accruals
Deferred income		 Group
2020
£
2019
£
33,333
-
217,531
22,859
-
-
8,724
14,223
26,004
-
3,566
3,630
19,183
30,531
461,578
278,738
769,919
349,981		 Charity
2020
£
2019
£
33,333
-
179,869
22,609
-
95,582
8,724
12,680
10,004
-
3,566
3,630
16,123
17,262
461,578
278,738
713,197
430,501		 Charity
2020
£
2019
£
33,333
-
179,869
22,609
-
95,582
8,724
12,680
10,004
-
3,566
3,630
16,123
17,262
461,578
278,738
713,197
430,501
430,501

Creditors due within one year includes the following liabilities on which security has been given:

Group Charity
2020 2020
£ £
Bank loan 33,333 33,333

The charity has given a fixed and floating charge over its assets as a continuing security for the payment of the Coronavirus Business Interruption Loan from National Westminster Bank Plc.

Deferred income

Deferred income
Deferred income at 1 January 2020
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end		 2020
£
278,738
245,703
(62,863)
461,578		 2019
£
237,830
278,738
(237,830)
278,738

Deferred income relates to payments received in respect of activities taking place in the following year.

Page 35

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

21 Creditors: amounts falling due after one year

Group Charity
2020 2020
£ £
Bank loans 466,667 466,667

Creditors amounts falling due after more than one year includes the following liabilities on which security has been given:

Bank loan Group
2020
£
466,667		 Charity
2020
£
466,667

The charity has given a fixed and floating charge over its assets as a continuing security for the payment of the Coronavirus Business Interruption Loan from National Westminster Bank Plc.

22 Obligations under leases and hire purchase contracts

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Land and buildings
Within one year
Between one and five years		 Group
2020
£
2019
£
75,000
75,000
18,750
93,750
93,750
168,750		 Charity
2020
£
2019
£
75,000
75,000
18,750
93,750
93,750
168,750		 Charity
2020
£
2019
£
75,000
75,000
18,750
93,750
93,750
168,750
168,750

23 Commitments

Charity

Capital commitments

The charity had entered into commitments in respect of the completion of the new adventure playground funded by a grant from Veolia.

The total amount contracted for but not provided in the financial statements was £333,470 (2019 - £Nil).

Page 36

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

24 Funds

Group

Unrestricted funds
General funds
Restricted funds
Restricted income fund
Restricted capital fund
Total restricted funds
Total funds
Unrestricted funds
General funds
Restricted funds
Restricted income fund
Restricted capital fund
Total restricted funds
Total funds		 Balance at
1 January
2020
£
286,578
4,843
74,756
79,599
366,177
Balance at
1 January
2019
£
283,241
4,190
98,911
103,101
386,342		 Incoming
resources
£
848,622
-
1,011,152
1,011,152
1,859,774
Incoming
resources
£
2,236,199
46,500
11,537
58,037
2,294,236		 Resources
expended
£
(1,674,789)
-
(58,286)
(58,286)
(1,733,075)
Resources
expended
£
(2,232,289)
(45,847)
(36,265)
(82,112)
(2,314,401)		 Transfers
£
(1,602)
-
1,602
1,602
-
Transfers
£
(573)
-
573
573
-		 Balance at
31
December
2020
£
(541,191)
4,843
1,029,224
1,034,067
492,876
Balance at
31
December
2019
£
286,578
4,843
74,756
79,599
366,177

Page 37

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

Charity
Unrestricted funds
General funds
Restricted funds
Restricted income fund
Restricted capital fund
Total restricted funds
Total funds
Unrestricted funds
General funds
Restricted funds
Restricted income fund
Restricted capital fund
Total restricted funds
Total funds		 Balance at
1 January
2020
£
108,560
4,843
74,756
79,599
188,159
Balance at
1 January
2019
£
155,176
4,190
98,911
103,101
258,277		 Incoming
resources
£
832,168
-
1,011,152
1,011,152
1,843,320
Incoming
resources
£
2,159,297
46,500
11,537
58,037
2,217,334		 Resources
expended
£
(1,401,729)
-
(58,286)
(58,286)
(1,460,015)
Resources
expended
£
(2,205,340)
(45,847)
(36,265)
(82,112)
(2,287,452)		 Transfers
£
(1,602)
-
1,602
1,602
-
Transfers
£
(573)
-
573
573
-		 Balance at
31
December
2020
£
(462,603)
4,843
1,029,224
1,034,067
571,464
Balance at
31
December
2019
£
108,560
4,843
74,756
79,599
188,159

The specific purposes for which the funds are to be applied are as follows:

The restricted income fund represents grants received which are to fund expenditure relating to a particular aspect of the objects of the charity, as specified by the donor.

The restricted capital fund represents fixed asssets obtained with restricted grants and donations or unspent grants for the purpose of further capital works.

Page 38

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

25 Analysis of net assets between funds

Group
Intangible fixed assets
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Charity
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
£
6,667
433,389
255,339
(769,919)
(466,667)
(541,191)
Unrestricted
funds
£
181,955
454,604
(349,981)
286,578
Unrestricted
funds
£
402,210
315,051
(713,197)
(466,667)
(462,603)
Unrestricted
funds
£
170,261
2
368,798
(430,501)
108,560		 Restricted
funds
£
-
533,855
500,212
-
-
1,034,067
Restricted
funds
£
74,756
4,843
-
79,599
Restricted
funds
£
533,855
500,212
-
-
1,034,067
Restricted
funds
£
74,756
-
4,843
-
79,599		 Total funds
2020
£
6,667
967,244
755,551
(769,919)
(466,667)
492,876
Total funds
2019
£
256,711
459,447
(349,981)
366,177
Total funds
2020
£
936,065
815,263
(713,197)
(466,667)
571,464
Total funds
2019
£
245,017
2
373,641
(430,501)
188,159

Page 39

Stubbers Adventure Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

26 Related party transactions

Charity

During the year the charity made the following related party transactions:

Wheelspin Motorsports Limited

(Centre Manager is company director)

Payments totalling £13,054 (2019 - £25,003) were made to the company in respect of equipment hire and purchase of equipment. At the balance sheet date the amount due to/from Wheelspin Motorsports Limited was £Nil (2019 - £Nil).

Activities Industry Mutual Limited

(Centre Manager is a company director) Insurance cover costing £53,670 was purchased in the year (2019 - £43,725). At the balance sheet date the amount due to/from Activities Industry Mutual Limited was £Nil (2019 - £Nil).

Mrs Edwards

(The onsite coffee shop is operated by the wife of the Centre Manager) The coffee shop was purchased from Mrs Edwards by Stubbers Training Limited for £16,000 on 1 January 2020. Mrs Edwards is employed by the charity as coffee shop manager. At the balance sheet date the amount due to Mrs Edwards was £16,000 (2019 - £Nil).

Page 40