Company registration number: 03193408 Charitable company registration number: 1080941 ## Stubbers Adventure Centre (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2023 Edmund Carr LLP Chartered Accountants & Statutory Auditor 146 New London Road Chelmsford Essex CM2 0AW ## **Stubbers Adventure Centre** ## **Contents** |Reference and Administrative Details|1| |---|---| |Trustees' Report|2 to 8| |Independent Auditors' Report|9 to 13| |Consolidated Statement of Financial Activities|14| |Consolidated Balance Sheet|15| |Balance Sheet|16| |Consolidated Statement of Cash Flows|17| |Notes to the Financial Statements|18 to 39| |Detailed Statement of Financial Activities|40 to 42| **Stubbers Adventure Centre** ## **Reference and Administrative Details** Registered Company Number: 03193408 Registered Charity number: 1080941 ## **Chairman** John Hooper ## **Trustees** Abigail Hooper John Hooper Rev Andrew Drake ## **Senior Management** Robert Edwards, Chief Executive Officer ## **Principal Address** Stubbers Adventure Centre Ockendon Road Upminster Essex RM14 2TY ## **Registered Office** 146 New London Road Chelmsford Essex CM2 0AW ## **Solicitors** Gepp and Son Solicitors 58 New London Road Chelmsford Essex CM2 0PA ## **Bank** NatWest Bank plc 122 High Street Hornchurch Essex RM12 4UL ## **Auditors** Edmund Carr LLP Chartered Accountants & Statutory Auditor 146 New London Road Chelmsford Essex CM2 0AW Page 1 ## **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 auditor’s report of the charitable company for the year ended 31 December 2023. 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. The charity’s trading subsidiary, Stubbers Training Limited, supports these aims by providing Adult courses, training and team activity days as well providing adventure park facilities at weekends and during school holidays activities, that enable children and families to grow together through participation in adventure and outdoor pursuits. ## _**Activities**_ Stubbers provides a year-round facility for outdoor adventure and personal development programmes. The centre provides accommodation and activity programmes for groups of young people who are accompanied and led by their own leaders/teachers. Residential Capacity is 280 beds, four tent villages and 48 beds in a purpose build bunkhouse building. In a typical day our adventurers will enjoy four 90 -minute activity sessions. The activity programme is drawn from 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 an AALS license. Recent recognition has been achieved through the “Adventure Mark” and “Learning Outside the Classroom” accreditations. Our Holiday Activity Scheme (SMASH) is registered with Ofsted as a childcare provider. Stubbers aims to develop young leaders and outdoor activity instructors from the young clients that enjoy the centre. Many will become volunteers as 15 year olds and progress to becoming adventure activity instructors themselves. Working at Stubbers equips our young team with a wealth of people management skills and work experience that transfers well to higher education or their future employment. ## _**Public benefit**_ 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. Our adventurous activity programmes 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 families from the local community through the provision and Page 2 **Stubbers Adventure Centre** ## **Trustees' Report** maintenance of an open access park that provides a well-managed and safe environment for children and families to enjoy the outdoor environment together. ## **Organisational Structure** The charity has a full-time team of around 36 employees proving our year-round adventure activity, accommodation, catering provision and maintenance of our 130 acre grounds and associated buildings. The team is enhanced in the summer season (May to September) by about 30 additional team members on seasonal contracts. Weekends and holidays we are further assisted by casual employees drawn from a cohort of around 40 young people from the local community. The Senior management team of four (Assistant Manager, Head of Maintenance, Chief Instructor, Head of Food & Beverage) is led by the Chief Executive Officer who in turn reports to the board of trustees of the charity. The Chief Executive Office is a director of the trading subsidiary, Stubbers Training Limited along with two other directors drawn from the board of Stubbers Adventure Centre We have one volunteer working on the grounds team and a team of Volunteers that visitor periodically to carry out projects relating to our woodland. The Young Leaders scheme is open to local young people from age 15. In return for assisting the activity team they received training and qualifications in adventure activities. ## **Relationships with related parties** 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 _._ ## _**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. Typically these individuals are identified through being in receipt of Free School Meals, Pupil Premium or having an Education Health and Care Plan. The fund is created through appeals for grants and donations for this purpose. In 2023 the charity received £21,702 for the general bursary fund. In the year bursary awards made totalled £21,459 benefitting 390 children. In the previous financial year The Essex Youth Trust provided the charity with a dedicated bursary fund so that charities working with children in the diocese of Chelmsford can visit the centre at subsidised rates. The Trust now prefer that charities apply using the trust's own application procedure. While, this year, our charity has not received a bursary grant from the trust we have benefitted indirectly through EYT funded children's charities using our service throughout summer holidays. Bursary Grants may be awarded by the trustees and within the criteria described above at the discretion of the Chief Executive Officer. 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 Page 3 **Stubbers Adventure Centre** ## **Trustees' Report** 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. ## **Achievements and performance** In 2023, there were 68,496 recorded visits to Stubbers Adventure Centre (visit equals one person per day). 8.5% of our Schools and groups visitors were recorded as having special educational needs. This is less than the published UK government figure that 18% of children receive SEN support. We would like to increase visits by SEN groups, and this would require the development of our accommodation, activity facilities and staff training. As shown in the table below there has been a 5% decrease in the numbers of visitors booking onto residential programmes. The number of group bookings is unchanged, but leaders report that take up on the opportunity has been less than in previous years. It is presumed that uncertainties regarding the economy could be a factor. The significant decrease in day-only bookings may support this assumption particularly as increased coach hire and staffing costs have impacted the total cost of a day trip. The extension of the ULEZ zone to include our location will doubtless have contributed to the perception of costs. While there may be changes ahead in schools’ position on providing day tips to their students it is clear from booking records and feedback reports that parents and the leaders of schools and community groups recognise and value the positive impact on children that a residential adventure activity experience offers. **----- Start of picture text -----**
Visits
2022 2023
Schools and Groups - Residential visitors: 6,267 5,985
Schools and Groups – Residential Activity days 21,152 21,396
Schools and Groups – Activity Days 37,555 21,141
Special needs 1,362 1,805
Park visitors General Admission: 29,966 23,208
Park Activity sessions: 15,538 11,030
Childrens Holiday Activity Day Camp 3,067 2,751
**----- End of picture text -----**
## **Facility Improvements** An indoor “Clip and Climb” facility has been installed providing 15 varied climbing routes with self-belay system ideal for safe use by children with minimal adult supervision. The facility is a popular addition to the park and provides and improves our activity provision for schools and community groups comprising younger children. Page 4 **Stubbers Adventure Centre** ## **Trustees' Report** An Archery Combat Range with equipment for 20 players expands the capacity of our target zone area and is a popular activity with older adventurers. The 24 bunkhouse tents that comprise the Tent Villages have been updated with wooden doors and privacy screens for teachers tents thus extending the useful life of the tents and improving comfort for residents. A swim platform with a walkway bridge was constructed to improve water access for the Saturday morning Open Water Swimming club. In response to security breaches on our fence line, we constructed 1.28 kilometres of fencing along our North and West boundaries. There remains to be completed 996 metres on the east and south boundaries. ## **Financial review** The group financial statements to 31 December 2023 show a deficit of £222,363 (2022 – surplus of £451,873). Group total income has decreased overall from £ 3,277,064 in 2022 to £2,914,480 in 2023. This negative variance is attributed to the lower up take in Schools activity day visits and visitors engaging in park activities. Regarding the park activities, we are likely seeing a settling of activity after the boon in engagement with the outdoors immediately following the covid restrictions. For a part of the year there was a reliance on advance bookings to maintain cash flow. ## _**Policy on reserves**_ The group’s total funds at 31 December 2023 were £679,245. Restricted funds totalled £851,720 and there was a deficit of £172,475 on unrestricted funds. The charity's target reserves policy is to hold free reserves of £200,000. Although achieving this continues to be delayed due to dip in day group and park bookings, it is anticipated that significant increases in payroll, utilities and food costs may further hamper progress towards our targets on reserves. The trustees are confident it can be achieved in the longer term through increased fees, measures to reach new users and mitigation of staff costs. Continued tight controls over expenditure continue to be essential. Since the year end the trustees have appointed a suitably qualified business manager whose focus is on the achievement of these financial aims. ## **Major Risks and the System and procedures to manage them** 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. **Budgetary control and reporting** - The Managing Director 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** – 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. Page 5 **Stubbers Adventure Centre** ## **Trustees' Report** **Insurance** – Indemnity and liability insurance appropriate to the Centre’s activities continues to be obtained as follows: **Loss of revenue** – Revenue streams are spread over the broad headings of community group residential, community group day visits and corporate and park income. Caution is taken on bookings to avoid reliance on any single revenue stream, booking or client to achieve revenue targets. Full payment is required 3 months prior to the visit and a structured refund policy is in place. The charity has business interruption insurance. The charity is not dependent on grants and donations to cover core cost although it often seeks funding for specific items or projects including the bursary fund. Thes items or projects are not purchased or undertaken until funds have been committed. **Adverse Publicity** – Every effort is made to prevent adverse publicity through adherence with prudent operation procedures and customer service policies. The charity retains an incident management company, “Pharos”, which provides incident management and media support should there be an event likely to attract adverse publicity. Key management staff receive media communication training. **Public Liability** – The charity has public liability insurance to £10 million with the Activities Industry Mutual. **Property** – All property and capital assets – including buildings comprising the leased property - are insured to the full replacement value. **Negligence by CEO and Trustees** – Every effort is made to ensure that CEO and board of trustees have the training and competence required for the responsibilities of their role. The CEO and Trustees are covered by D&O insurance. ## _**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 charity will continue to prioritise affordable adventure activity experiences to children and young people regardless of ability to pay. But the board also recognises that running costs are rising and availability of charitable grants and donations is decreasing. The board anticipates a future where the “park activities” generate sufficient surplus to subsidise charitable activities and provide bursaries. The park will also complement the work of the charity by focusing on enabling children and families to play and grow together. ## **Structure, governance and management** ## _**Nature of governing document**_ The organisation is governed by its Memorandum and Articles of Association. Stubbers Adventure Centre is a Company Limited by Guarantee Page 6 **Stubbers Adventure Centre** ## **Trustees' Report** ## _**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 Managing Director 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 & Son Solicitors. . ## _**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 CEO’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. ## **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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies. 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 parent charitable company and the group and of the incoming resources and application of resources, including its income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the parent charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the parent charitable company and the group 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 parent charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Page 7 ## **Stubbers Adventure Centre** ## **Trustees' Report** ## **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 charitable company'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. ## **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 charitable company on .................... and signed on its behalf by: ......................................... John Hooper Chairman and trustee Page 8 Stubbers Adventure Cent Independent Auditors Report to the Members of Stubbers Adventure Centre Opinion We have audited the financial statements of Stubbers Adventure Centre (the 'parent charitable company) and ils subsidiary Ilhe 'group'} for the year ended 31 December 2023, which comprise the Consolidated Stslement of Financial Acb"vities. Consolillated Balance Sheet, Balance Sheet, Consolidated Slalemenl of Cash Flows and Notes lo the Financial Slatemenls. including a summary of signrficant accounting policies. The financi31 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 Accounb"ng Pra¢b"cel. In our opinion the financial stslemenls. give a true and fair view of the stsle of the group's and parent ¢harilable company's affairs as at 31 December 2023 and ol the group's incoming resources and application of resources, includin9 its income and expenditure, for the year then ended,. have been property prepared in accordance wth United Kingdom Generalty Accepted Accounting Practice., and hove been prepared in accordance the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audrt in accordance wth Intemalional Stsndards on Auditing {UKI IISAS IUKII and applicable law. Our responsibililies under those stsndards are further described in the Auditor's responsibilities for the audit of Ihe financial slalemenls section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant lo our audit ol the financial statements in the UK. including the FRC'S Ethical Standard, and we have fvlfilled our other ethical responsibilities In accordance wth these requirements. We believe that the audit ewdence we have obtained is sufficient and appropnale lo prowde a basis for our opinion. Concluslons rela￿ng to golng ¢on¢•m 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 nol identified any material uncertainlie5 relating lo events or conditions that. individually OT collectivety. may Cast significant doubt on the group and parent charitable company's ability lo continue as a going concem for a Per￿ of al least ￿rtIve months from vh)en the financial slalemenls a￿ authorised for issue. Our responsibilities and the responsibilities of the twslees wlh respect to going ￿nCern are described in the relevant sections of this report. Other Infomiation The other information comprises the information included in the Iruslees, report, other than the financial statements and our audilorfs ￿pOrt Ihereon. The tnjstees a￿ ￿sponsible for the other infomiation Contsined within the annual ￿pOrt. Our opinion on the financial slalemenls does not cover the other information and, except to the extent otheThMse expliatty stated in our report, we do not express any form of assurance conclusion thereon. Page 9 Stubbers Adventure Cent Independent Auditors Report to the Members of Stubbers Adventure Centre Our responsibility is to read the other infomth'on and, in doing so, consider whether the other inforniation is materially inconsistent the financial statements or our kno¥￿edge obtained in the audit or otherwise appears to be materially misstated. If we identfy such material inconsistencies or apparent material misslalemenls. we are required lo determine whether this gives rise lo a material misslatemenl in the finan¢ial slalemenls themselves. If. base(1 on the work we have perfomed, we conclude that there is a material misstatement of this other informats'on, we are required to report that fact. We have nothing to report in this regard. Oplnlon on othor matter prn$crlb•d by th• Companl•s Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report vthich includes the directors, report prepared for the purposes of company law, for the financial year for vthich the financial statements are prepared is consistent wth the financial $t*ement$', and the directors, report included wthin the trustees, report has been prepared in accordance wth appli¢able legal requirements. Matters on whlch ￿ ar• r•qulr•d to report by •x¢•ptlon In the light of our kno¥￿edge and understanding of the group and the parent charitable eompany and its environment obtained in the course of the audit. we have not Identified material misslatemenlg in the directors, report. We have nothing lo report in resped of the folbvAng matters where the Companies Act 2006 requires u$ lo report lo you if, in our opinion.. adequate a¢￿untIng re¢ord$ have not been kept by Ihe parent ¢hantable company, or relums Idequale for our audit have not been received from branches not visited by us., or the parent charitable company's financial statements are not in agreement wth the accounting records ond returns., or certain disclosures of Iru$tee$' remuneration specified by law are not made., or we have not received all the information and explanatsons we requi￿ for our audit,. tsr the trustees were not ent￿ed lo prepare the financial slalemenls in accordance wf(h the small companies, regime and lake advantage of the small companies. exemptions in preparing the directors. report and from the requirement lo prepare a $tralegi¢ report. Responslbllllles of tw$tses As explained more fully in the Statement of trustees, responSi￿'11ties (set out on page 71, the trustees (who are also the directors of the pa￿nI charitable company for the purposes of company lawl 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 Irustees delemiine 1$ 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 and parent charitable company'5 abilty lo continue as a going concern, disdosing. as applicable. matters related lo going concem and using the going concem basis of a¢¢ounling unless the Iruslees either intend to liquidate the group or the Pa￿nI charrtable company or lo cease opecatsons. or have no realistic atternative but to do so. Page 10 Stubbers Adventure Cent Independent Auditors Report to the Members of Stubbers Adventure Centre Auditor responsibilities for the audit of the financial statefflents Our objectives are to obtain reasonable assurance about whether the finanaal statements as a whole are free from material misstatement, vknelher due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit ¢ondu¢led in ac¢ordan¢e wth ISAS IUKI will a￿ayS dete¢t a material misslalemenl 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 Inlluence the economic decisions of users taken on the basis of these financial ststemenls. Irregularities, including fraud, are instan￿3 of non-compliance wth laws and regulations. We design procedures in line with our ￿spOnsibl11be$. ouuined above. to detect material misslalemenls in respect of irregularities, including fraud. The extent to Ithich 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. wa5 as follows., The engagement partner ensured that the engagement team collectively had the appropriate competence. capabilities and skn'lls lo idenbfy or recognise non-compliance with applicable laws and regulations. We identified the laws and regulations applicable to the group and parent charitable company through discussions with directors and other management, and from our commercial knovAedge and experience of the charity sector. . We focused on specific laws and regulations which wè considered may have a direct material effect on the finan¢ial $talement$ or the operations for the group, in¢luding the Companies Act 2006, tsx legislation and data protection, employment and healih and safety legislation. We assessed the extent of compliance wth ihe laws and regulations identified above through making enquiries of management. We a$se$sed the su$ceplibility of the group and parent Charitable company's finan¢ial slalemenls to material misstatement, including obtaining an understanding of how fraud might occur by,. Making enquiries of managemenl as to vthere they considered there was suscepts'bility to fraud. their knovAedge of actual. suspected and alleged fraud. Considering the intemal controls in place lo mrtigale the risks of fraud and non-compliance wlh la and regulation$. To address the risk offraud through management bias and override of controls, we., Performed analytical procedures lo identify any unusual or unexpected relationships Tested ioumal entries lo identify unusual transactions Investigated the rabonale behind signfficant or unu$ual transaclion$ Page 11 Stubbers Adventure Cent Independent Auditors Report to the Members of Stubbers Adventure Centre In response to the risk of irregularilies and non-compliance with laws and regulations. we designed procedures which included, but were not limited to.. . Agreeing financial statement disclosures to underlying supporting doCuMentat￿n Reading the minute5 of meetings of those charged wth governance Enquiring of management as lo actual an(1 polents.al lth"gab"on and claims Because of the inherent limrtations of an audit, there is a risk that %%E will not detect all irregularities, including those leading to a material misstatement in the financial ststements or non Rfrstricted funds Total 2022 Aclivrties and Courses Camping, accommodation and catering Sale of gift vouchers and merchandise 1,425,198 761,696 154 1,425,198 761,696 154 2.187,048 2,187,048 Page 23 Stubbers Adventure Cent Notes to the Financial Statements for the Year Ended 31 December 2023 S Income from other trading activities Unrestricted lund$ Restricted funds Total 2023 Subsidiary trading income 513,893 513,893 513,893 513,893 Unrestricted funds Restricted funds Total 2022 Subsidiary trading income 759.804 759.804 759,804 759,804 6 Inveslmgnl In¢om• Unrnstrict8d funds Rgstricted funds Total 2023 Interest receivable on bank deposits 2.116 2.116 2.116 2.116 Unrestri¢tgd funds Restrlclgd funds Total 2022 Interest receivable on bank deposits 23 23 23 23 Page 24 Stubbers Adventure Cent Notes to the Financial Statements for the Year Ended 31 December 2023 7 Other income Unrestrictod funds Rgstricted funds Total 2023 Other Income Insurance income Rental income Gains on sale of tangible fixed assets 1.192 455 17,486 12,597 1,192 455 17,486 12,597 31.730 31,730 Unrestricted funds Restrlcted funds Total 2022 Other Income Insurance income Rental income Gains on sale of tangible fixed assets 3.681 257,124 10.016 6.366 3.681 257,124 10.018 6.366 277,187 277,187 Page 25 Stubbers Adventure Cent Notes to the Financial Statements for the Year Ended 31 December 2023 8 Expenditure on raising funds a) Costs of g•n8rating donations and legacies Unrestricted Restricted funds funds Total 2023 Total 2022 Marketing and publicity Staff Costs 19,871 12.657 19,871 12.657 9,764 11,263 32,528 32,528 21,027 bl Costs of tradlng actlvltlos Unrfrstrlctod lund• Restrict lunds Total 2023 Totsl 2022 Trading subsidiary cost5 Depreciation, amortisatson and other similar costs 508,743 508,743 536,752 62,010 62.010 26,648 570.753 570.753 563.400 cl Investmgnl managomgnl ¢osts Total Total UnrestrSct•d lund¥ R•strict•d funds 2023 2022 Interest payable., Interest payable on bank loans and overdrafts Interest payable on leases and hire purchase ¢ontra¢ts 23.897 23,897 17,074 16.046 16.046 39,943 39.943 17,074 Page 26 Stubbers Adventure Cent Notes to the Financial Statements for the Year Ended 31 December 2023 9 Exp8nditurn on charitsble activities Unrestrictod funds Rgstricted funds Total 2023 Not• Aclivrties and courses Camping, accommodation and catering Depreciation and amorb'salion Staff costs Governance and support costs 712,297 712.297 154,372 111.397 1.394.899 46.406 154,372 185,645 1.394,899 46,406 74,248 10 2.419,371 74.248 2.493,619 Un￿strIct¢d lunds R•$trl¢t•d fund¥ Total 2022 Activities and courses Camping, accommodation and catering Depreciation and ¥Mo￿'satIon Staff costs Governance and support cosls 615,377 38.611 653,988 185,958 95,620 1,171,791 39.422 185,958 172,531 1,171,791 39,422 76.911 10 2.108,168 115,522 2,223,690 10 Analys1$ of govgrnonco and support Costs Gov•rnan¢e Total 2023 Total 2022 Fee5 paid to auditor Audit of the financial slalemenls Legal and professional fees Other governance costs 15.248 25.881 5.277 12,736 19,100 7.586 46,406 39,422 Page 27 Stubbers Adventure Cent Notes to the Financial Statements for the Year Ended 31 December 2023 11 Trustees remuneration and expenses No Iruslees, nor any persons connected ￿￿th them. have received any remuneration from the group during the year. No trustees have received any reimbursed expenses from the charity during the year. 12 Staff costs The aggregate payroll costs were a5 follows= 2023 2022 Staff costs during thg year vMro: Wages and salarie5 SorAal se¢urty costs Pension costs 1,590.505 111.440 24.874 1.426.405 95.931 21.346 1,726.819 1.543.682 The monthly average number of persons linduding seni¢y management leaml employed by the group during the year was as follows.. 2023 No 2022 No Inslruclors and staff Adminislralion Management 51 52 62 63 Total temiination payments amount to £8,141 {2022- £Nill and related to compensation for lerrnination of employment of one member of staff The number of employees whose emoluments fell wlhin Ihe following bands was.. 2023 No 2022 No £60,001 £70,000 The total employee benefits of the key management petsonnel of the group were £143,660 12022.. £144.4291. 13 Auditors. remuneration 2023 2022 Audit of the financial statements 15.248 12,738 Page 28 Stubbers Adventure Cent Notes to the Financial Statements for the Year Ended 31 December 2023 14 Intangible fixed assets Group Goodwill Total Cost At 1 January 2023 Al 31 Oecember 2023 10,000 10,000 10,000 10,000 Amortisation Al 1 January 2023 Al 31 December 2023 10,000 10,000 10,000 10,000 Not book value At 31 December 2023 Al 31 December 2022 Page 29 Stubbers Adventure Cent Notes to the Financial Statements for the Year Ended 31 December 2023 15 Tangible fixed assets Group othor tsnglbl¥ fix•d assèt Land and buildings Total Cost Al 1 January 2023 Additions Disposals Al 31 December 2023 1,285.351 $6.383 2,267.497 3,552,848 263,614 319,997 19.730 19,730 1.341.734 2,511,381 3.853,115 Deprg¢Sation Al 1 January 2023 Charge for the year Elirninaled on disposals B22,350 45.998 1.374,110 2,196,460 203,787 249,785 19.730 19,730 Al 31 December 2023 868,348 1,558,167 2.426,515 Net book value Al 31 De¢ember 2023 473.386 953,214 1,426,600 Al 31 Oecember 2022 463.001 893,387 1.356,388 Included wthin the net book value of land and buildings above is £Nil 12022 £Nill in respect of freehold land and buildings and £473,38612022 - £463.0011 in respect of beasehokds. Page 30 Stubbers Adventure Cent Notes to the Financial Statements for the Year Ended 31 December 2023 Charltsbl• ¢ompany Other tangible fixed asset Land and buildings Total Cost Al 1 January 2023 Additions Disposals 1,285,351 56.383 2,090,278 3.375,629 55,210 111,593 5,230 5,230 Al 31 December 2023 1.341.734 2,140.258 3.481,992 Deprociation Al 1 January 2023 Charge for the year Eliminated on disposal$ 822,350 45,998 1,283,184 2.105,534 139,850 185,848 5,230 5,230 Al 31 Oecember 2023 B68.348 1,417.804 2,288,152 Not book valu• Al 310ecember 2023 473,386 722,454 1.195,840 Al 31 December 2022 463.001 807,094 1.270,095 Included wthin the net book value of land and buildings above is £Nil 12022 £Nill in respect of freehold lan¢J and buildings and £473,38612022 - 463,001 1 in respect of leaseholds. Page 31 Stubbers Adventure Cent Notes to the Financial Statements for the Year Ended 31 December 2023 16 Fixed asset investments Charitable company Sharns In group undartakings and participating Int•rnsts Subsidiary undortaking$ Totsl Cost At 1 January 2023 Al 31 Oecember 2023 Net book valu• Al 31 December 2023 Al 31 December 2022 Detsll8 of undortaklngs Details of the investments in which the charitable company holds 20% or more of the nominal value of any class of share capital are as follows.. Country of In¢orporatlon Proportlon of ¥otlng rlghts and ¥harg$ hgld 2023 2022 Prlnclpal actlvlty Undertaklng HoldSng Subsidiary undortakingy Stubbers Training Limited Training activib'es for adult$ England Ordinary 100% 100% The registered address of Stubbers Training Limrted is 146 New London Road. Chelmsford, Essex, CM2 OAW. Page 32 Stubbers Adventure Cent Notes to the Financial Statements for the Year Ended 31 December 2023 17 Stock Group Charity 2023 2022 2023 2022 Stocks 3,266 3.259 1.082 1.720 18 Dobtorn Group Charity 2023 2022 2023 2022 Trade debtors Due from group undertakings Prepayments Other debtors 4,200 58.626 33.630 50,046 27.241 250,000 33.630 614 27.241 250,073 38.444 277.314 92.256 327.287 19 Cash and cash oqulvalènts Group Charlty 2023 2022 2023 2022 Cash on hand Cash al bank 1.893 169,006 2.595 259,018 1.060 74.578 1.453 70,585 170,899 261,613 75,638 72,038 Page 33 Stubbers Adventure Cent Notes to the Financial Statements for the Year Ended 31 December 2023 20 Creditors.. amounts falling due within one year Group Charity 2023 2022 2023 2022 Bank loans Trade creditors Hire purchase and finance leases Other tsxats.on and social security Pension scheme credrtor Accruals Deferred In￿Me 100,000 71,423 100,000 32,114 100,000 66,365 100,000 30,914 22.413 16,101 11,909 24,020 435,386 23,058 6,383 19,570 540,841 16,101 11.909 19,595 431,542 19,138 6,383 15,754 530,239 681,252 721,966 645,512 702,426 Creditors due within one year indudes Ihe followng liabilities on vthich security has been given.. Group Charity 2023 2022 2023 2022 Bank loan 100,000 100,000 100,000 100,000 The charity has given a fixed and Iloabng charge over its assets as a continuing securty for the payment of the Coronavirus Business Interrup￿￿ Loan from Natsonal Westminster 8ank Plc. D•f•rrod Income 2023 2022 Deferred income at 1 January 2023 Resources deferred in the period Amounts released from previous periods 540,841 74.938 180,393 538,050 399,929 397,138 Deferred income at year end 435.386 540,841 Deferred income relates lo payments weived in ￿SpeCt of actsv￿.e$ taking place in the following year. Page 34 Stubbers Adventure Cent Notes to the Financial Statements for the Year Ended 31 December 2023 21 Creditors.. amounts falling due after one year Group Charity 2023 2022 2023 2022 Bank loans Hire purchase and finance leases 175,000 275,000 175,000 275,000 103,712 278.712 275,000 175,000 275,000 Creditors amounts falling due after more than one year indudes ihe following liabilitses on which security has been given". Group Charlty 2023 2022 2023 2022 Bank loan 175,000 275.000 175,000 275,000 The charity hag given a fixed and lloab'ng charge over its assets ag a conb"nuing security for the payment of the Coronavirus Business Interruption Loan from Natsonal Westminster Bank Plc. 22 Obllgatlons under1oas•s and hlr• purchase contracts Op•ratlng1648e commltments Total future minimum lease payments under non