ADVENTURE PLUS CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Company Regisiraiion Number: 03976979 Charity Number. 1081059
ADVENTURE PLUS FINANC.IAL STATEMEP4TS FOR THE YEAR ENDED 31 DECEMBER 21123 CONTENTS PAGES Reference and adminisirdlivedetsils Trustees, rewrt 2 105 Executive Direciols tew)rt 6tolO Auditovs report Statement of financial o¢1iviiies and income and ex&11Vre account 15 Balance sheets 161017 Sialemeni of cash flows 18 Noies io ihe financial 51aiements 191036
ADVEP4TURE PLUS TRLISTEES, REPORT FOR THE I'L4RE)DED31 DECEIIBER 2011 TRUSTEES AND DIRECTORS Mr Brian Foxion (Chair) Mr Sam Breuning Mr James Cookson Mr Andy Field Mr James Gould Mr Mark Hellawell COM PANY SECRETARY Therese Cox REGIST ERED OFFIC E Adventure Plus Main Sire¢t Clanfield Bampton Oxon OX182SN COMPAIYY REGISTRATION NUMBER 03976979 England and Wales CHARITY REGISTRATION NUMBER 1081059 AUDITORS Just Audit & Assuran¢¢ Ltd Registered Auditors 37 Market Square Witney Oxfordshire OX28 6RE Page 1
ADVENTURE PLUS TRUSTEES, REPORT FOR THE I E.4R E)DED JI DECEMBER 201) The tNstees present their annu rewjrt aThJ the finan¢iai swements f1he year ended 31 [k¢emr 2023. l aDd administrative inforniation Compatiy numl*r: 03976979 {EnglaThJ & Wales) Charity number: 1081059 Stglus The organisaiion is a ¢harithblecompany limited by guaraniee. inCoTFKed on 19 Awil 20 registered as a charity on 8 June 20(K). It commenced ir&Jingon l January 2(X)2, thking over the OF¢10n$ and assets of Fair Glade Trust {charity number 802659), founded in 1990. The company was ¢stablished under a Memorandum of A$sl10n thatesthblished ihe objects and wwers of the chariiable company and I governed under its Articles of Association. Member5 of the charitable company guarantee tocontribute an amount noi exceeding £1 io the asseLS orth¢ charlble company in the eveni of winding up. Obje¢ilves orthe chgrlty The obj¢¢rives of the charity are.. o To advance ihe Chrisiian Faiih o To advance the Education of. and provide a fa¢ility and stlY Cours for, childm and young lSOn$ in ihe interests of Cial welfare and in order io improve iheirconditions of life. Th¢ TnLsiees confirni ihai they have complied with the requirements of section 4 of the Chartiies Act 2011 to have due regard to the public benefil guidance published by the ChaTity Commission for England and Wajes. Truslee•Directors Trusi¢Ls, who are Direciors for the purFx)se of Company Law and Trustees for the pUrF of Charity Law. who served during the year and up to the date of ihis rewn are set below. Diredors ¢oniinue to implement the 6 year rixed ierni for Direciors as passed in a Board Res0110n dated 15 Feb 2008. Mr Brian Foxion (Chair): Mr Richard Bach Mr Sam Breuning Mr James Cookson Mr Andy Field Mr James Gould.. Mr Mark Hellawell Mrs Helen Leighton Secretary: Registered Olee. Aecountants: Auditors: Bxnkers: Mr5 Therese Cox (Solicitor) Adventure Plws. Main StreeL Clanfield Oxfordshir¢, OX18 2SN Numbers Limiled, 32 High Street. Wendover Bucks HP22 6EA Just Aj11 & Assurance Ltd, 4 South Bar StreeL Banbury, Oxon OXI 6 9AA Nationat Wesmiinqer Bank plc. 23 High Streei. Witn¢y. Oxon OX28 6HW Page 2
ADVENTURE PLUS TRUSTEES. REPORT FOR THEI'E.4REIDED31 DECEIIBER IOLI Mnagement StructUTf Adventur¢ Plus {A+) is governed by a Board of DirectoT& as (xrtlined aix)ve. The Executive tArector reTX)rts to the Board. The DitectorsruSteeS are also SUPP)rted by the Company Secrewy wkn CLW)rdinaies Directors, Me¢iings and the legal aspecis of the CompanyfTrust. Trusleesl Dlrectors There were changes io the board as noled aFMTrve. New trusieesldire¢iots are rttnjited by recommendation by other Inee$. musl be over 18 years old, must nol have been previously disqualified from being a trustee of A+ a1 musi subscribe 10 A+'s Statement of Beliefs. Trustees are appointed at annual general meetings for a full temi or. if otherwise appoinied. will vac¢ their office at the end of the next annual general meeting after being appointed. Flnn¢i*l Rejults The financial results Show 10t annual income in 2023 of £1.058.143 a5 compared with 2022 of £832.564 (an increase of 27.1 Yol. while expenditure for 2023 of £953.281 as compared with 2022 of £795.654 {an increase of 19.80/0). This rneans ihat there w&8 a surplus of £104.862 in 2023, 85 compared with surplus of £36.910 in 2022. The income. excluding gifts in kind. has increased for 20?3. Grants and donalions income for the operations were slightly lower compared ¢0 2022. tknnaiions in relation io the development of the Adventure B&8e were up following a fantastic response to the appeal for the shower and ablution block. Core Adventure Plus and Windmill Fami Conference Centre operational income was up for ihe ihird year in a row by 26Yo over 2022. The Directors thaftk the staff who have worked hard to try to mainiain the feasibility of running th¢ facilities and providing the beneficial service io our guests and ihe children and young people with whom we engage. Post Balan¢e Sheet Events 2024 and beyond will continue io provide a challenging environment within which A+ will maintain its operations. Uncenainties exist with regard to operational income from Charged activities due to pressures on our user groups with their own c051s during this prolonged period of economic challenges. Wilh careful management of the subsidiary business. Windmill Farni Conference Centre Ltd IWFCC L). the trustees consideT thai the ¢harity is able to continue as a going conrern. In 2023 A+ completed ihe Construction of the shower5 and ablulion b1k. This w&s officially opening during the summer. Its completion put a certain amount of siress onio the funding of the organization. There is need for continued SUPTM)rt for the charity operationally whilst it works to develop the A+ Base. Bank Bank funds have remained in the black through0 the year with no Tecourse to overdrdfts or loans. Cash reserv¢s are saved in the CCLA'S COIF high interest account. Page 3
ADVENTURE PLUS TRUStEES' REPORT FOR THE I'L4R ENI DED 31 DECEIIBER 2023 QuickBooks aceounts paekge The charity uses the Quick book5 accounts package to keep a live record of all in¢om¢ and outgoings and payroll. It is auioJnatically updaied as required b) law atMI by the business of the charity. Busine$$ Plan On the 16 October 2014 Adventure Plus Limiied purchased Windmill Fam Conference Centre (buildings) and 50 acres of land for 1.3million with a firsi instalmeni of £450.0(K>. A+ paid the ihird and final insthlm¢ni of C425.000 on ihe 16 (kiober 2016. Adveniure Plus also pUrChd Windmill Fami Conference Centre Limited IWFC CL) for £ l each share (2 shares in total). WFCCL is now a wholly owned subsidiary of Adveniure Plus and will serve a5 a trading arm with any surplus gift covenanied to the ¢hariiy. WFCC ¢onEinues io provide accommodaiion and Catering for conferences for adulis. Adveniure Plus $0 acquired use of funher adjaceni land in 2018 and building a slai¢ of ihe art Adventure Base for young people wiihin ihe toia] 95 acres, a5 funds are ¢¢Ived. Thig has comm¢n¢ with a facility for over 100 beds in wo(Mlen cabins and a meetindIning cabin along with i¢mw)rary ioileiing faciliiies. In 2023 a shower and wash up block will be completed and work will commence placing overhead power lines under ground in order lo open up the siie for aciiviiy facililies. Risk Review The Irusiees b¢li¢ve that risks are well managed within the charitsble compAny. The nure of the work carried out require5 a comprehensive system of risk a55essmenls logether with health and safety p)licies covering the many differeni aciivi¢ies provided for clienis. We are also regisiered with ihe Adventure Aclivilies Licensing S¢rvi¢e (AALS) who insp¢ci our risk management policies as pan of the regular licence renewal process. A+ was inspecied in July 2023 and was given a funher iwo year licee. ThL trus¢ hys full Employers. and Public Liability Insuranc¢ cover. The Trusiees are noi aware of any financial risks affeciing the chgrity other than ihose noted in the Post Balance Sheei Events paragraph above. The Chariiy no borrowing. Re3trve$ poll¢y Business reserves of £222.600 are well over the TM)licy set by ihe Board of three months, OFeraiional outgoings, as recommended by the Charity Commission. This will continue io be monitored ihrough 2024. Fundraising Actlvilies Adventure Plus is committed to high standards with regard to fundraisin£ activiiy and has complied with all laws relating to charities and fundraising. We are clear. honest and open aboui our a¢iiviiies and fund raising requiremenis. We are respeciful iowards all supporters, and with the work being carried out to meet GDPR regulaiions has re¢ognised our strong procedures wilh regards to fundraising infornialion security. A+ received no complaints atrM)Ut our fundrdising activities during 2023. Funds are raised through various Mea8. sponsored events. applications to grdnl making trusts and bodie representatives of companies known to siaff personally, churches which we are inviied to visil, a.DOne, page on the website. collection pot5 on severnl shop counter5, and annua] ¢ommuni¢aiions (o all existing supporters. We did not efflploy any professional fundraisers or commercial participatory nor did we cold ¢all members of the public during 2023. No fundraising aciivities were carried out on the charity's behalf by external parties during 2023. Page 4
ADVENTURE PLUS TRUSTEES. REPORT FOR THEI'EAREYDEDJI DEcE(BER 2023 A+ has not signed up to any voluntary fundraising scheme or standards however as noted aFM)ve all our fundraising activities are carried out to the highest possible slandards. Volunteers We enj()v significantly high qualiiv levels of volunieer SUPTM)rt 1th our charitable prolS1o. Team members join our volunteer GAP Programme and over the course of ?021 there were 6 team members. 'fhere were 2 inierns over the year volunteering in our conservation team and Adveniure Impa¢1 ieam. In our offices we have volunteers working on admini%(ra¢ional iasks such as processing individuals, Erf)oking5 onto our Total Adveniure I lolidays. ensuring our stationery stocks are good. DBS checks administraiion, letter writing, reconciliations. A+ a150 enjoyed the support of a volunteer electrician who ha5 been invesiigaiing and improving elements of the sile Is deemed suiiable. All of our Total Adventure holiday5 engage volunteer leaders. All volunteers are s¢reen¢d and where necessary are DBS checked. Lasily. throughoui lh¢ year. on events. friends of A+ volunteer their driving. mu5i¢al, outdoor activities skills ur1dqulif1Cul1(js further enhan¢ing the level of ¢are io ihe v(}ng people we engage with. Statement of Trustees, Responsiblll¢les Company law requires the trustees to prepare financial slatements for each financial year which give a triie ond fair view of the stale ol'affairs of Ihe chariiable company as at the balance sheet date and of lis incomingF rewur¢es and application of resources, including the income or expenditure. for ihe financial year. In preparingi those financial statements, the iruslees should follow besi pra¢iice and.. seleci suilabl¢ accounting FX)licies and then apply ihem consistently. make judgements and estimates that are reasonable and prudeni; prepare the trustees, report and the financial si&emenis in ac¢ordan¢e with applicable law and regulations of ihe Uniled Kingdom- and prepare the financial slalemenis on ihe going concern b&sis unless it is inappropriate to presume that the charity will continue on ihat basis. The trustees are reswnsible for keeping proper accouniing r¢¢ords which disclose with reasonable accuracy at any tini¢ thc finan¢ial position of the charitable companj. and which enable them to ensure that the financial statements complv with the Companies Acl 1985. They ar¢ 50 responsible for safeguarding Ihc assets of the chariiable Company and hence for taking reasonable slep5 for ihe preweniion and detection of fraud and other irregularities. This report has b¢¢n prepared in accordance with the Stsiemeni of R¢¢ommended Practice- Accounting and Reporting by Charities. and in accordance with the special provisions of Part Vll of the Companies Act 2006 relating to small ¢ompanies. Approved by the TTUStee5 300adtr2024 Signed on its b¢half by Mr Brian Foxton Chair TrusteelDirector Page 5
ADVENTURE PLUS EXECUTIVE DIRECTOR'S REPORT FOR THE YL4R ENDED31 DECEIIBER 2023 Strategic DireetjOD: Adventure Plu¥ (A+) continues to encourdge and inspire several hundred children atMI young people each year- and l am delighted to report that we have been able to complete provision of Affordable, Accessible Accommodaiion ai ihe A+ Adventure Base. AdventurePIus More deiails of this unique adveniure youthwork development can be found on our w¢bsite. A+ delivers four main approa¢h¢s ioAdv¢niur¢ Yowhwork: Group Adventures: This is the largest section of A+ activity. delivering adVen1u activities for schools, youth groups and Duke of Edinburgh {[> expeditions. We were able io run 202 ¢v¢nis plus regular weekly school based activities in 2023. We worked with over 6.295 children and young rwpl¢ Ihrough ihe year and consistently received pK)sitive feedback from children. parenis and group organisers alike. We continued io suppon Broadway Academy in Asion, inner-Birniingham. amongst an exceptionally high proportion of Asian students who might not oiherwise access these experiences. From 2015- 2020 we had developed their outdoor cducation prograinme. expediiion training and assessmen¢ for iheir expanding DO operntion and ihrough 2023 our support coniinued ihrough providing advice. coaching and leadership ai a growing number of ¢venis. as we hav¢ also helped Ihem d¢velop programmes al Iheir own adventure facility near Worcester. A+ GAPYe4r: Sion Lewis continues to leaders our GAP Year programme as part ofour Trnining department headed by Graham Marbhall. Thi5 inve51meni in irainee in5truclors is a key aspecl of our Work. providing conlinuity of conlact and training for young adulis and others who may wani 10 explore a career break. Al the start of 2023 we had 4 first year GAP team members, one second year. Matthew Norton completed his Conservalion Internship, in &ssocialion with A Ro¢ha UK and we were able io offer him a full time role- as our firsi 'Site Ranger.. We were pleased to welcome Rhoda Robert5 MA. &$ our nexi Conservation and Land Manag¢meni Intern. io support Mallhew in our active conservation on siie. Wayne Kuisis-solomon ¢ontinue5 to enjoy the Adventure Impaci (SENI Internship. and we have been able to offer Wayne a pem)aneni position on the Aim Team in 2024 following ihe compleiion of his iniern year. All of these team members coniribut¢d S11r1canIIY io our 'Adveniure Youthwork, provision and were in tum boih Challenged and further equipF¢d for iheir 'nexi chapters,. Tot#1 Adventure Holid*ys: Once again we hosied our Toial Adveniure Holid (TA) for individuals. in the summer ai our new Adventure B&se here ai Windmill Farm. The Easter and summer events provided much needed support and encourage to over 202 children and youn8 people in 2023. In ihis COron70n Year, our theme for the summer was"A Kingdom ihai Cannoi be Shaken- from Hebrews Chaw¢r 12. BE SUAIEI Page 6
ADVENTURE PLUS EXECUTIVE DIRECTOR'S REPORT FOR THEI'EAR ENDED31 DECENIBER 2023 'Adventure5 in Worship. was rep¢ed for a second year. The coMbinlon of Chrislian music workshops and ouidoor adventures proved once again io a real blessing io the young people who attended a5 well as the amazing leaders and music tutors who volunteered io suprrt)rt the event. We were delighted io be back in Lauterbrunnen again in February Half temj for our annual Ski A+ event in th¢ stunning Jungfrau Region of Switzerland. Adventure Impact (Alm): Kelly Gibson continue5 to coordinate and grow our spe¢ialisi unli working with young Ople disadvaniaged ihrough poverty. emotional and b¢haviour dilTiculties or disabililies. Local chariti¢s reaching out to young people on ihe streeis ¢oniinue to refer young people to Aim programmes. We are delighted to Continue our longterm relationship in 2023 for children based ai ihe iwo large Secondary Schools in Witney.. Wood Green and Henry Box Schools: as well &$ Blake Schty)l. Mulberry Bush (specialist sch(M)I for vulnerable and severely traumatised primary aged children). Sunrise MCP and another specialist charity Man and Boy. We are pleased to be continuing to encourage children in the w¢ of Sandwell House, based in Alvescol. as well as continuing our own Family Aclivily Mornings. Other referrers io our Aim programmes have included: The Abingdon Bridge. Viva Network. Guideposts and Carterton Community College. Feedba¢k from the young people, parents and the referrers ¢ontinu¢5 to be very positive especially when the young people achieve AQA awards through their lime wtth us. Adventure Base: Our varied adventure programme5 on site includes mountain bike Tri¢ky Trail, slacklining and bushcraft in our COP5e. which were appreciated by many children and youth during 2023. Phase l of thi5 project is the exciting and pioneering design of Affordable Accessible Accommodation in th¢ timb¢r {winlerised) 'Yurt Village and Timber Cabins, which enable young people to stay on si and benefii from the residential experience as well as the adventure activities. + AdventurePIus MASTER PLAN FOI AD"/rNy", JF.- Fh.SE Seile l-12S0 4t Page 7
ADVENTURE PLUS EXECUTIVE DIREcfoR'S REPORT FOR THE I'EAR ENDED 31 DECEIIBER 1023 In 2023 A+ was able to follow up on provision of the timber IIKlges. self-calering kitchen and dining facilities wilh ¢ompleiion of WashrooTn and Showers specifically designed for use by people in wheel chairs and i&ho may require hoists. This lasi ¢lemeni marks ihe end of Phase l of the Adventure B¢ye: Affordable A¢¢essible Accommodation for over 100 children and young wple ¢)n sile. which has been warn)ly e1Ved by many $¢hool$ and yOh organisations who have come to visit. The Adveniure Base is already significantly increasing the number of young people we reach each year. A+ Hospitality- A+'s purchase of Windmill Farni land. buildings and business continues io funher ihe aims and objectives of the ¢hariiy. This includes the neiboUr1g 5-Bedroom Lower Farm, which offers siand-alone accommodaiion for families or small groups on reir¢at. A+ H05Pltality can accommodate adult groups (Training. Charity. Church, Community, Families & Corpordtel. A+ is able io provide aciiviiies for these groups a5 required. This h&$ proved popular with Vislling ieams wanting a break from meetings, and to enjoy some friendly compeiiiion on ihe ar¢hery range, and team challenges for corpornie managemeni training. Any surplus al the end of ihe operaiing year goes directly to support the charithble work of A+. Adult deleg?ates and families staying at Windmill Fami also b¢com¢ aware of the opportunilies available 81 A+ raising Ihe prolile of our work wilh a larger con51iluency and increasing ihe markei for both sides ofihe operation. Fundraislng: Jon Cox ¢oniinues to spearhead our fund-raising and markeiing focus, and was wonderfully supported by Ruth Biddulph along with a committed voluntary fund raising ieam. who share roles including.. researching poieniial donors and trusls. and writing applications and thank you letters. After successfully raising £1,500,000 in ihree years to purchase the land and accomMod10n fund-raising efforts at the slan of 2023 fU9$¢d on Completing the residential elem¢nis of our Affordable. Ac¢essible A¢¢ommoda(ion - namcly the Shower and WC block. with excellent 'changing places supwned Wcs and Shower rooms. The funds required for these specialist facililies were donated by a local family whose 2 daughters had enjoyed adventures with A+ growing up and wanied ensure A+ was equipped io offer ihe full resideniial experience for visitors with sever addiiional needs. like their son Steven. who sadly had died the previous year. Their generous gift. in memory of Steven enabled the equipping of 2 'Changing places WC Shower r(K>ms, complete with hoists (and roof tracking in one of the rooms). Over the ¢ourse of the year we also received generous donaiions iowards our specialist AdVen1u Impaci ieam, the weekly Adventure Club for local young people, repla¢emeni staff unifom)s. W&8hr(h)ms. conservaiion and maintenance tools. adventure activity equipmeni. staff salaries and general funds for the Adventure Base and funds towards helping pr¢par¢ the siie for ihe creation of a new adventure lake. Page 8
ADVENTURE PLUS EXECUTIVE DIRECTOR'S REPORT FOR THEI'EAR ENDED31 DECEIIBER 202J Marketing". A+ continues lo develop its 'markding presence. wilh Sara Martin. A+ social media presence continues to grow alongside the usual advertising of the many veniur¢s for the year and our annual newsletter and Christmas Appeal helps keep our supporter base up io date on key developments al A+ Our profound thanks go to the following trusts. companies, organisations and churches for iheir generous support of Adventure Plt£s which has benefitted our work in 2023-. Chrltgble Trw$ts and COMM5 Bartlett Taylor Chariiable Trusi Dynamis Adventures East End Farnily Trust Hobden Foundation Jim Cousins Trust Keith Rae Trust Lan Charitable TDJSI nisatlODS Laing Chariiable Tnjst Pye Charitable Settlement P&P Tnjsi The Ammco Trust The Kingsgrove Trust The Penuel Trusi Churches All Sainis Church. Worcester All Souls Langham Place Bi5hop5 Stortford Vineyard Church Christchurch Camden High Sireei Meihodist Church. Witney Si Leonard's Church. Eynsham Si Mary's Chur¢h. Cogges Si Mary's Church Cholsey Oxford Diocesan Outreach Fund Com Anies Amazon UK Blue Boar Pub Beneficial Group {E¢clesiasiiC} Hobden Group Windmill Farm Conference Cenire Lid Fln*n¢e: Ai the end of 2023 it is good lo see Ihat so much hard work from acr05S the team in a number of are&s h&5 paid off in so many ways. We said goodbye to Will Graves in AugLSSt to be replaced by Tim de Borde of Numbers Lid who manage our finan¢es with the &851Stance of Hannah Bailey, our Bi>okkeeper (pli) and volunieer Jen Osman. The ieam also keep up lo dale with so many 'ihank yous, from our generous donors and grant maktng Iles. My sincere thank5 to all of them for continuing to manage a well organised finance operation. Page 9
ADVENTURE PLUS EXECUTIVE DIRECTOR'S REPORT FOR THE YEAR ETriDED311)ECEIIBER 2011 Youthwork ID ibe local comjnunit).: during ihe auiumn and spring tertn A hosts a weekly Adventure Club for children aged 8 and over. Adveniures chang¢ every few weeks so ihe young people gei io have go ai many of our activities. and it is a great way to keep in touch with children who'came on camp, in the surnmer. We also coniinued rhe A+ Canoe Club in the summer (BSTI and offered a Climbing Club during ihe darker months. Dlreetors A+ benefiis from the combined expertise and sUprt of a SUFerb ieam of Directors through the year.. Mr Brian Foxton (Chair): Group Engineer- Street Management Team, London Borough Hackney Highways. Regular Adventure P114s Volunteer and Archery Leader Partner at Heligan Group {stepped down in December 2023) Accord Inveslmeni Partners (Appoinied Oct 20?3) Ridge and Partners - Surveyor (Apwinted O¢12023) Appoinied Oci 2023 A¢ademic Lawyer- University of Plymouth Director and founder of Rokwell Partners Lid Former Intemaiional Mark¢iin¥ Dir¢cior (si¢pped down in July 2023) Mr Richard Bach: Mr Sn Breuning Mr Jame5 Cookson Mr Andy Field Mr James Gould.. Mr Mark Hellawell Mrs Helen Leighion: l join all ihe team at A+ in thanking our Dire¢ioTS for Iheir sUprt in so many ways throughout 2023. We are so graieful for the support, encouragemeni and endors¢m¢ni of our Pairons: Jeremy Vine Reverend Canon David Winter Jo Gambi The Most Reverend Dr Ben Kwashi (J)N of Jos. N. Nigeria The Right Reverend Dr Steven Croft of Oxford And finally.. l ¢on¢luded l&si year wilh a quo1¢ from one of the firsi groups io use our new facilities. These word5 from another youth leader whose group came to stay ihis year capture perfecily whai we have been striving io provide: 'The weeA'end bvuj ju.i¢ ihe be&1 iliinx. You %ui'& huiy nuil¢il ill Our J'(•uih uJked if w¥ cvmld c'vme buck dgdin- Ihij weekenilll Jonaihan Cox Executive Dirfftor 30 (ktobeT 2024 Page 10
ADVENTURE PLUS INDEPENDENT AUDITORS. REPORT TO THE TRuEE5 OF ADVENTURE PLUS FOR THE I'EAR EfDED 31 DECEIIBFR 20LI OpinioD We have audiied the ¢onsolidaied financial eMents of Adventur¢ Plus for the year ended 31 December 2023. which comprise the Group Statement of Financial Activities. Charity and Group Balance Sheeis, Chairty and Group Cash Flow Statements and the related notes, including a summary of significani accouniing polictes. The financial reporting framework thai has been applied in their preparation is United Kingdom Accounting Standards. comprising Charities SORP- FRS102 'The Financial ReTM)rting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generdlly Accepted Aceouniing Praciice}. In our opinion the financial statement5'. give a true and fair view of the stste of the group'5 and the parent charity's affairs &q at 31 December 2023 and of the group's incoming resources and application of resour$, including its income and expenditure. for ihe year then ended. have been properly prepared in accordance with Uniied Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requiremenls of the Charities Act 2011. Bgsls for Oplnion We conducted our audit in accordance with International Standard5 on Auditing (UK) (ISAS (UK)) and applicable law. Our Tespon5ibilities under those siandards are furfher described in ihe Auditor's responsibilities for the audit of the financial siatements section of our repon. We are independent of the charity in accordance with the ethical requirements that are relevant io our audit of th¢ financial slatements in the UK. including the FRC'5 Ethical Standard as applied to public interest entitie5. and we have fulfilled our other ethical responsibilities in accordance with Ihese requiremenis. We believe thai the audii evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusionj reltln% to %oin8 ¢on¢t In auditing the financial sialcmenls. we have concluded that the irustee5 use ofthe going concern basis of accounling in the preparation of th¢ finan¢ial statements is appropriale. Based on the work we have perforni¢d. w¢ have not identified any malerial uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the charity's ability io continue as a going Concern for a period of at leasi iwelve months from when ihe original finan¢ial slat¢ments wer¢ authoris¢d for issue. Our responsibilities and the responsibilities of trwslees with respect to going concern are described in the relevant sections of this retM)rt. Page11
ADVENTURE PLUS INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF ADVENTURE PLUS FOR THE I'EAR ENDED31 DECE.IIBER 202J Other Information The trustees are responsible for the oth¢r infom)aiion. The oiher infomjaiion comprises ihe infomiaiion inclLHled in the trustees, report, oiher than ihe financial stalements and our auditor's report thereon. Our opinion on the financial slatemenis d(*s noi cover the other information and, excepi to the extent otherwise explicitly slated in our r¢pon. w¢ do not express any fomi of suranCe Conclusion ihereon. In connection with our audit of the financial sthiements. our reswnsibility is io read the other inforniation and, in doing so, consider whether the other inforniation is m&erially inconsiM¢ni with the financial stai¢meni$ or our knowledge obtained in the audit or othenvise appears io be malerially misstated. If we identify such material inconsistencies or apparent material missiaiemenis. we are required io deiemine wheiher there is a MerIal misstatement in the financial siaiemenis or a material misstatement of the other inforniation. If. bd on the work we have perforni¢d. we ¢on¢lude Ihai there is a maierial missiatemeni of this other informaiiorL we are required to report th fact. W¢ hav¢ noihin8 io repon in ihis regard. Mattery on whieb we Are required lo rewrt by eA¢eptio In the ligh¢ of our knowledge and understanding of the charity 8nd its environmenl obtained in the course of the audii, we have not identified material misstsiements in ihe Trusiees. Report. We have nothing to report in respeci of ihe followin8 mle1$ where the Charities (Accounts and Rewrt) Regulations 2008 requires us to report to you if. in our opinion: adequale accounting records have noi been k¢pl. or reiurns adequate for our audii have noi been received from branches noi visited by us; or Ihe financial statemen15 are noi in agreement wilh the accouniing records or reiums. or cenain disclosures of irustees remuneration specified by law are not made- or we have noi received all the infonnaiion and explanations we require for our audit. Responsibilities ofthe trustees As explained more fully in the trusltts, responsibilities siaiemenl (sel oui on page S). the Irusiees are responsibl¢ for the prepara¢ion of the financial statements and for being 5ati5fied that they give a true and fair view, and for such intemal conirol as ihe irustees detemjine is necessary to enable ihe prepardtion of financial statements that are free from material mi55tatement, whether due to frdud or error. In preparing the financial siai¢ments, Ihe truMe¢s ar¢ r¢swn$ibl¢ forse$S1nglhc ¢hariiy's ability lo ¢ontinue as a going ¢on¢ern, disclosin& as applicable, matteTS related to going concern and using ihe going concern basis of accounting unless Ihe irusiees eiiher intend io liquide the charity or to cease Operlon or have no reaiisiic 4]ietnative but to do so. Page 12
ADVENTURE PLUS INDEPENDEiYT AUDITORS. REPORT TO THE TRUSTEESOF ADVENTURE PLUS FOR THE I'EAR ENDED 31 DECEIIBER IOIJ Auditor's responsibilities for the audit ofthe financial ststements Our objectives are io olxain r¢asonableassuranc¢ about wh¢therthe financial statements &$ a whole are free from material misstatement. whether due to frdud or error, and to issue an auditor's pOrt that includes our opinion. Reasonable assurance 15 a high level of assurance. but is not a guarantee thai an audii conducted in accordance wilh ISAS {UK) will always delect a material misstaiemeni when it exists. Misstatements can arise from fraud or eor and are considered material if. individually or in the aggregate. they could re&sonably be exFrtted to influence the economic decisions of U5er5 iaken on ihe basis of these financial statements. The exteni to which our procedures are capable of deieciing irregulariti¢& iTluding fraud is detailed below.. Our assessment focused on key laws a1 regulations ihe chariiy has io Comply with and ar¢as of the financial statements we assessed being MO suscepiible io missthtem¢nt. These key laws and regulations included but were not lirnited to compliance with the Chariiies Act 2011. United Kingdom Generally Accepled Accounting Practice and relevant tax legislation. We are not responsible for pr¢veniing irr¢gularities. Our aPpr(h to detect irregularities included. but not limiied to. the following.. obtaining an understanding ofihe charity's policies and prUr¢S and how the ¢harity has complied with Ih¢s¢. through discu55ions and sample iesiing of ¢onirols: obtaining an undersianding of ihe legal and regulalory framework applicable to ihe charity and how the charity is complving wilh ihai framework: an understanding of the charity's risk SsMent process, including ihe risk of fraud: designing our audit predureS lo respond to our risk assessment: and perfomiing audit work over the risk of managemenl override of controls including iesting of journal eniTies and other adjustment5 for appropriatenes5. evaluating ihe busine55 raiionale of signifi¢ani transactions oul%ide the nomal course of business and reviewing eslimaies for bi&s. Whilst considering how our audit work addressed the detection of irregulariti¢s. we also consider the likelihood of detection based on our approach. Irregularttie5 arising from fraud are inherently more difficult to deieci than those arising from error. Be¢ause of the inherent limitations of an audit. there 15 a risk that we will not deieci all irregulariiies. including those leading to a material misstatement in the financial statemen15 or non-compliance wilh regulaiion. This risk increases thc more that compliance wilh 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 nonvcompliance. The risk is also greater regarding irregularities oCCu1ng due to fraud rather than error, as fraud involves inieniional ¢on¢ealment, forgery, collusion. omi55ion, or misrepresentstion. A further descripiion of our responsibilities is availabl¢ on the Financial RerM)rting Council's website at.. w,.rrC.o .uauditorSTes nsibilities. This de5CriPtion forms part of our auditor's r¢port. P8ge13
ADVENTURE PLUS INDEPENDENT AUDITORS. REPORT TO THETRugfEESOF ADVENTURE PLUS FOR THE I'EAR ENDED31 DECEN1BER 202) Use of 0r report This repon is made solely to ihe Charity's irusiees, as a body. in a¢cordan¢e wilh s¢ciion 144 of the Charlties Aci 2011 and regulations made under section 154 of thai Act. Our work h&$ been undertaken so that we might state to the trtee5 those matters we are required to state lo irusttts in an auditors. report and for no other purpose. To the lullest extent pembitted by law, we do noi accept or assume respon5ibilily to anyone oiher than ihe ¢lwiiy and lis trusiees as a body, for our audit work. for ihis rewrt. or for the opinions we have fomied. MJ FCA (Senior Statutory Audilor) For And on behalf of Just Audit & Assurance Ltd, statOry AlItOr 37 Markei Square Wiiney Oxfordshire OX28 6RE Date.. Just Audit & Assurance Ltd is eli8ible for appoinimeni as audiior of the charity by virtu¢ of ils ¢ligibiliiy for &pintMen1 as auditor of a company und¢r s¢¢1ion 1212 of the Companies Act 2006 Page14
ADVEP4TURE PLUS GROUP STATEMENTOF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT FOR THE )'E.4R ENDED 31 DECEII IBER 20LI Notes Unrtstrieted Restricted TotAI TolAI FThd5 Fund$ Funds 2023 Funds 2022 INCOME Donations and legacies Grant inwme Charitable activities Investment income her income Aciiviiies for generaiing funds 133.712 320,508 454220 382,873 4.000 207.500 307.109 2.535 30.161 264.118 307.109 2.535 30.161 264.118 25.381 211.029 Toial Ineome 737.635 320.508 1.058,143 832.564 Expenditur¢ on: Chariiable a¢iiviiies Gov¢monce cosis Tradin8 Cost of subsidiary 443.268 11.250 282.911 215.852 659.120 11.250 282,91 606.868 7.500 181.286 Total Expendityr¢ 737.429 21S,852 953.281 79.S.654 NET INCOMEI {EXPF.NDITURE) 206 104.636 104.862 36,910 Extrwrdinary income Subsidiary corp)raiion tax 1.500.000 435 17.C(K)I 17.QIM)I NET MOVEMEiYf IN FUNDS 7206 104.656 111.862 1.536.475 Reconciliation offunds Total funds at l January 2023 222.600 3.582.915 3.805.515 2.269,040 Toial funds 31 De¢emb¢r 2023 2?9.806 3.687.$71 3.917.377 1.80$51£ The statement of financial aciivitits iludeS all gains and 1055es recognised in the ye4r. All irtcomt and expenditure deriv¢ from ¢ontinuin8 activities. Pagels
ADVENTURE PLUS BALANCE SHEET AS AT31 DECEMBER 2O2J Noies GROUP CHARITY 21123 2022 2023 21122 FIXED ASSETS Tangible $¢1$ Invesirnenis 3,351.174 3.453,378 3,609,275 3,419.569 10 3.851.174 3.453.378 3.609.277 3,419,571 CURRENT ASSETS Stock DebtOTS Cash ai baThk in hand 1273 226.243 173.547 .657 104.5J8 455.404 324,350 16?,4?3 77,014 366.165 401.063 561.599 486.773 443.179 CREDITORS: Amounis falling du¢ within one year 12 308,860 199,862 175.735 119,946 NETCURRENT ASSETS 92.203 361.737 311,038 323.233 TOTALASSETS LESS CURRENT LIABILITIES 3,943,377 3.815,115 3,920J15 3,742.804 CRgDITORS: Amounts fallin due after more Ihth onc ye&r 14 26.iKl 21.( Provisions for liabilhties and ¢harges NET ASSETS 15 -3,917,377 3.805,515 3.899.315 3.742,804 FUP4DS OFTHE CHARITY Unre51ricied income funds RestriEt¢d incom¢ furhds 18 18 229.806 3.687.571 222.( 3.582.915 211.744 3.687.571 159.889 3.582.915 3,917,377 3.805.515 3.899.315 3.742.804 Page 16
ADVENTURE PLUS BALANCE SHEET ASAT 31 DECEIBER 2023 These accounts have been prepared in accordance with the Special provisions relating to small Companies within Part 15 of the Companies Aci 2006 and wilh ihe Financial Rep)rting Siandard 102 Section IA smaller entiiies. Signed on behalf of ihe )aryl of vuM¢es Mr Brian Foxion Truste¢/DirectQT- Chair Date approved by the toard: 30 Odober 2024 Page17
ADVEIYTURE PLUS STATEMENT OF CASH FLOWS FOR THE I'E.4R EIYDED 31 DECEMBER 2023 otes GROUP CHAIUTY 2023 2022 2023 2022 Cash flow5 from opergting artiviti¢s Nel income for the reporting period l&s per the SOFA) Adjustments for: D¢preciation ¢harges Increase ID inveniory Ilncreas¢l I d¢creas¢ in debiors Protti on ihe sale of oiher thngible rix¢d assds Increase in creditors Taxes paid Nei cash generated by operating 104.862 36.910 156.511 12.492 215.IM19 384 (119.305) 127.870 1404 154.6701 {33,338} 89.205 12.1201 186.339 123,770 1247J36} 6.123 127.535) 133.338} 69,851 6.123 129.998 76.789 3.17.071 163.453 178.416 145.740 C4$h flows from 5nvestlng art5vlties: Prced$ from ihe sale of oiher iangible fixed asse¢s Purchase Lif property, pl1 arhd equipment Net Cash used in inve$iin8 aciiviiies 2.850 40,870 2.850 40,870 1621.7781 1149.1631 1385,0181 {133,6431 1618.9?81 1108.2931 1382,1681 192.7731 Net in¢rtBst In ¢•Jh and c•$h equivAlent5 1231.8571 55.160 1203.7421 52.467 Csh and ¢•$h ¢quival¢nt$ •¢ tht b¢ginning ofihe ye•r 455.404 400.244 366.165 313.698 Cxsh and eAsh equiwlents at the end of the yeAr 173.147 455.404 16?4?3 366,165 Page18
ADVENTURE PLUS NOTESTOTHE FIiYANCIAL STATEMENTS FOR THEI'EAR E)DED31 DECEIIBER 2023 GENERALIIYFORMATION Adventyjre Plus is a regimered charity and wmpany liinited by guarantee iTKOTPOrnted in EnglaDd and Wales. Its registered office and Princip office is.. Adveniure Plus Main Srreet Clanfield Bampion Oxon OX182SN The financial statements art prtsented in Sierlin& which is the fyn¢lion¥l curreney of the eharity. The charity is a public benefii entity. SUMMARYOFSIGNIFICANT ACCOUNTINC POLICIES BAsl$ of prep•rgtlon of the finAlltll stitmeni$ These financial statement5 have been prepared in aCcoan¢¢ with the Accounlin8 and RertIng by ChaTilies.. Siaiement of Recomrnendcd Pr#cti¢e Applicable 10 ¢hariiies pr¢paring accounts in accordance with the Financial Reporting Siandard 102 Section l A smaller eniili¢s. lh¢ Companies Act 2(M)6 and the Charriies Aci 2011. Group finAn¢l#l $taternent$ The firtaneiol staiemenis ¢onsolidai¢ ihe results ofihe charity and 115 wholly owned Subsidiary Windmill Farm Conferen¢¢ CeniTe Limited on a line-by-line basis. A separnie Siaiemeni of Finon¢i31 A¢livilie5 and Incorne and Exp¢rkdilure Account for the chwity has noi been presenied beuyse th¢ charity h&$ taken advinta8e of the exempiion by s.408 Companies Ad 21x16. Incornlng res0re¢S Voluntary inwme don*ion5. Bifts. le8acies 8rnnts thai ryovide core fvnding or are of a 8enerdl natiire Is reco8ni5ed when the Charity has entiilement to ihe 1ftne. li 15 probable ihat ihe income will be r¢¢eived and the amount be me&sure with su(fi¢ieni reliability. Income fM tr&ding aciivities been included in ineomin8 resour¢¢s it) the wod in which ihe levaTrI evenl lakes place. Page 19
ADVENTURE PLUS NOTES TO THE FINANCIAL STATEMENTS FOR THE I'EAR ENDEDJI DECEhlBER 2011 STATEMENT OFACCOUNTING POLICIES leoniinued...) Grnts Granis and donaiion are only included in the SN¢meni of Finan¢ial Auiviii¢s when the chgrity has unwndiiion entitlement to the resources and are treed as re5rriCted or unrestricied incorne in line with the donor's instructions. Th¢ company rtiVed granl income of £012022. £4.(M)01. A business resilien¢e grnni of £O12022- £4,000) w&s received from Wesi Oxfordshire Disiri¢i Council suppon busine¢$ aff¢a¢d by COVID-19. Dona¢¢d good& f•¢ilitiH •Dd xrvices Included within donation5 and le8acies rtCO8nised in the xcounts in 2022. is an amounl in relation to the gifted use of land and buildin5 under a peppercorn lease. with a calcultted rtir value of £50.281. In 2022 this ld was donad io ihe Chariiy arbd is Tr) longer under a pepper¢om lease. Exp¢nditur¢ All expenditure is recognised onc¢ Ihere is a le8al or constructive obli8aiion to that expenditure. il is probable settlernent Is required and thc amount can be measured reliably. All costs are allocaled to thc applicable expenditure h¢Bding th aggregaie similar costs io thai ¢a80ry. Where costs ¢annoi be directly anribud panicular h¢adin¥s ih¢y have been allocated on a b&shs consistent with ihe us¢ of resou¢& wilh central stsff costs allocaied on the basis of lime 5peni. and depreciation char8es all(Kaied on the portion of the assct's u. (kner support ¢osis are allo¢aied based on the spread of siaff costs. Cos¢s of chariiable aciiviiies are expenses diyecily incurred in achieving the objeaives of the Chariry. Governance cosis include ihose incurred in the Bovernance of ¢h¢ ¢hariry and its asw$ dnd are primarily asswioi¢d wilh constilulionaj hnd Sthiulory requirements. T*nglblt Ilxed Isseis Tangible fixed assds wsiing moff than £500 are ¢apithlised. Fixed 855¢19 are styled cost less ¢¥Mla¢ed depreciation. Depreciation ha5 been provided at the followin8 f8t¢s so as to write off the o)si less residual value of the assets over iheir estimated useful lives. Land and buildings Moior v¢hi¢l¢s Computer equipment Fixiures, fittings and equipmenl Tenant improvements Straighi line basis at 2.su/o 10 IOV• per annym Strai8ht line b&sis 25Yo per annum Strai8ht line basis at per annum Styai8ht line b&sis 2(Vo per 8nnum Straight line b15 IIR4 per annum Page 20
ADVENTURE PLIIS NOTESTOTHE FIiYANCIAL STATEMENTS FOR THE I'EAR EIDED 31 DECEIIBF.R 202J rATEMENT OF ACCOUNTIP*G POLICIES {coThtiDued...) Invejtments Investrrtents in substdiaries are showt) cost less xcurnuldted impaimieni losses. Rentals applicable to operniing leases where sub5Tantially all of the benefits and risks of ownership remain with the les50r are chalged io the incom¢ and expenditure &¢ount on a straight line basis over the le tenn. Payments received under operdting leases att recognised a5 income over the It temi on a siraight-line basis. TAX•tion The charity 15 an exempl charity withtn the meaning of %hedul¢ 3 of the Charities Act 2011 and is considered lo p5 lesls sei oui in Paragrdph I Schedule 6 Finance Aa 2010 and therefore meets Ihe definiiion of a charitable wmpany for UK corporation purposes. Being a regisiered Charity, the Charity 15 rKTrt liable to thxaiion on iis inwm¢. The 5ub5idiary meets the definition of a tradin8 business and thertfore is liable to tLKalion on its ineome. The subsidiary iaxhiion ¢xp¢nse represents the a88rtgaie amouni of Current and dcferrtd recosnised in the reponing period. A current tax liability is reanIsed for ihe tax yyJbl¢ on the taxable profit of the current and wt periods bwd on cUtl tax r8ies and laws. A ¢UTrent t&x tsset is reeo8nised in ffspea of a w 1055 ean be Carried ba¢k io recover tax paid in a previous period. D¢feTT¢d Is retO8nised in res1 of all liming difference5 beh¥een ihe recogniiion of tn¢orne and expenses in the rinan¢ial siatemenis and their inclusion in t&K Issessmenis. Unreli¢v¢d 105ses and oiher deferred ¢&x asse¢s Are re¢ognised only lo the extent th it 1$ pn)bable ihat ihey will be recovered again the revers81 of defeTTed tax liabililies or other l&xable profits. Deferred i&¥ is measured using lax rates and laws that have been enaaed or substantively enacted by the reporting date Rnd thai are ¢xpe¢t¢d lo apply to Ihe rtvttsal of the liming diff¢r¢nce. Curreni and deferred tax &ssets and liabilities are discounted. Stotk Stock h8$ been valued at the lowerof cost and net re8lis8bl¢ value. after making due allowance for obsolete and slow- moving itern5. C05t comprises the Cosl of 8ODds purcha5cd valued on a firsi in fErsi oiit basis. The carrying amounl of 501d is reco8ni5ed as an expense in ihe pewd in which the related revenue is recognis¢d. Page 21
ADVENTURE PLUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EfiDED31 DECENIBER 2023 STATEMENT OFACCOUNTING POLICIFS {coDtinued...) Finincisl instrurnents The charity only enters into b&sie financial insirumenis transaaions ihar result in the re£o8nition of finoneial asseis and liobiliries lik¢ tyade and oiher a¢¢ounts re¢eivable and payable. l¢)ans from banks and other ihird partie5. loans to related parties and investments in non-pullable ordinary shares. Financial assets are measured at cost ar #re 1sSCS5¢d the end of each rewrtin8 riod for objective eviden¢¢ of impaim¢n¢. Where objeciive eviden¢e of impaimient is fout)d, an tmpimient ]oss is re¢ognised in the statement of rinancial activitles. The impairrnent1055 for financial &ssets measured w cost is me&%ured the difference beeen an &sset's carykng amouni and the best estimate. which is an approximation. of the amount that ihe charity would reccive for the &%5ei if it w¢re to be sold ai the reporting dc. Financial assets and liabilities are offs¢i ond the net amoyni repord in lh¢ balance sh¢¢i when ih¢r¢ is an enforceable right to sei off the reco¥nised amount and there is an inlenlion to settle on a bttsis or io realist the &ssel and s¢rtl¢ ihe liability simulianeously lrnpirni¢nt of non-financial Isxts At each r¢rKJning da non-financial assets cwried f8ir value. like 80(dwill and planL property and equipment, are reviewed to detennine wheiher there is an indication an assei may be imp8iTed. If Ihere is an indicaiion of kN)ssible impaimient, the recoverable AmounT of any assrt or 8roup ofrtlatcd asscts Iwhich is ihe hi8her of value in use and ihe f4ir value less cos1 to 5¢111 is ¢siimat¢d and Comp wilh its ¢aTryin8 amouni. If ihe rewverable amouni is lower. Ihe Carrying amount of the Assei is reduced io its reeovernble annI ond an impiimient loss is recognised immediately in the 51atemen( of fiThanci¥l a¢tiviiies. Stocks are a150 a5se5sed for impairment al each reFQrtin8 date. The caryin8 amount of txh item of stock, or group of similar iiems. is compared wilh its selling price less CO to complete and sell. If an item of siock. or group tsf sirnilar ilem5. 15 impair¢d its ¢aryin¥ amouni is reduced selling price less costs mple and sell. and an impaimient loss is recognis¢d immediaiely in profjt or loss. If an impaimieni loss is subsequenily reversed. the carryin8 amouni of the 8ssd. or group of related gets. is ineresed to Ihc revised c5tirne of 115 recoverdble amount. bui rM)t io exceed the amouni that would have been deierniined had no impaimeni loss been r¢¢OgnIs for Ihe 85seL or group of Telated assets, in prior peri(Js. A reve] of hn impairn)ent105S is ie¢o8nis¢d immedia*ly in the $emen[ of financial aciivilbes. Page 22
ADVENfuRE PLUS NOTES TO THE FIiYANCIAL StATEMENTS FOR THE I'EAR ENDED 31 DECEIIBER 2023 STATEMENT OFACCOUNTING POLICIES {eOntinu...) Debtor Short terni debr$ are measurd at trSaCtIOn price. les5 any impaimient. Crediton Short lem irade Creditors we me¥ured at the trknsaction Price. (Xher financial liabtlitie5. including bank loan5. are meosur¢d initially ai fair valuc. net of transli0n co5 and subsequently al amortised Cost. Funds General funds are unrestricted funds which are available for use 8t the discretion of the trustees in furtherance of the gener81 objectives of the eharity and which have noi been designated forother purw)ses. Designated fvnd5 comprise unresmcted funds have been set aside for speeific purposes the dIretIOn of the Irus¢ees. Resiri¢ied funds are funds which are to be used in aecordantt with specific resth¢iion$ Imrsed by ihe donors or which hov¢ bttn raised by the charity for particular purposes. i11 sttuJ of the thTIty The charity is a company limi*d by gu8ranlee and h&5 IKJ share eapital. In the event of the charity being wound up. Ihe liabiliry in respe¢1 of the 8uarantee 15 limited to £1 per member ofthe charity. Pensions The c4)mpany operiies a defbned coniribuiion pension Scheme. The amount charged 10 the profil and loss account in respccl ofpension cosis and other posi-relirement benefits IS the amouni payable in Ihe year. Differences be¢ween coniributions payabl¢ and conlributlOn5 actually paid in the year are shown as ¢ith¢r accruals or Prepayments in the balance sh¢el. Page 23
ADVEiYTURE PLUS NOTES TO THE FINANCIAL STATEMENTS FOR THEI'EARENDED31 DECEMBER 2023 CRITICALACCOUNTING EsfiMATESANDJULKEMENTS The tTUStees have made key as5umpt10115 when l(l811g a value for donions in kind in respe¢1 to the usage of land and buildings. At 31 De¢emb¢r 2023 ihe amount included alled £Nil12022= £50.2811. This estimaie És ealculaied using ih¢ coms of similar land ond byildings in th¢ local area. The value is calculated by multiplying the size of the arrd in number of arre5 don&ed by the averdge ¢osi rent on¢ acre of land. Thc property is alculaied in the same mant)er using the marke¢ wsi of ling pn)penies of a Similar size. In addition io the above. land buildings on Lower Fann wer¢ donat¢d ihe Charity durtn8 ihe year. The Irusiees have made accounting CSiim#ies with regards to the valuati¢)n of thi$ don¥tion. The valu10n of ihe land and buildings hos been d¢i¢miined using oiher mark¢d pwperties it) ihe area. Page 24
ADVENTURE PLUS NOTES TO THE FINANCIAL STATEMENTS FOR THE I'EAR ETriDED JI DECEIIBER 2023 INCOMING RESOURCES None of the company's income 1$ aiiribwble to geographical markets outside the Unid Kingdom. The incoming resow¢e$ in¢luded on page IS consist of the followng sour¢es of inme. 2023 2022 Ilnrestrieted ineome: Donations ind legicles rknnations aTbd Icgacics 133.712 202.778 GTAnt Income 4.000 Ch•ritAblt ctiwities AIM MAP Total advenlure DISTIL 36.297 192.452 59.464 18,896 26.326 134.082 26.019 21.073 307.109 207,500 Investment Income nlere5t receivable and simil8r income 2.535 1,781 Oiher Ineomt Rental income Other incom¢ 4.903 25.258 11,470 30.161 25.381 Aetlvltles for genertlng funds 264.118 211029 737.635 652.469 R¢strftt¢d incorne: Dongtlon$ Ind l¢¥¢les tA)naiions and l¢ga¢i¢s 320.508 180.095 Tot*1 Income 1.058.143 832.564 Page 25
ADVENTURE PLUS IYOTES TO THE FINANCIAL sfATEIMENTS FOR THE YE.4R ENDED 31 DECEIIBER 2•LI EXPENDITURE The resour¢¢s ¢xp¢nded include on page 15 consi4 of the following sources of expend1lu.' 2023 2022 Unr¢s¢ri¢t¢d ¢xp¢nditure: Charitbl¢ tliviti¢s Discounts tak¢n Reni and ral¢s trlousing and sile expenses Insurance Wiges and salaries Activity costs Repairs and rnain¢en8nce Volunteer expenses Telephone and f&K Printin8. Wstage and stationery Trdd¢ subscriptions Syndry expenses Moior exp¢ns¢s Publiciiy and fundrnising Self-Employed Personnel Legal and profcssional fe¢5 Accouniancy fe¢$ Bank ¢haryes Donation$ 6.272 3.214 54.858 9.784 5,443 255,283 44.134 2.708 3.517 3,250 3,722 3,215 623 24.445 7.091 16,?65 6.604 290.100 47.825 16.023 1.077 1.616 3.160 4,8?4 4.375 30.587 5.688 1,690 224 5.519 1,219 8.637 4.680 1,190 6?2 443.268 436.416 Governn¢e eo$is Govcrnancc ¢osts- audit Gowem8n¢e wsts- annual &counts 8.750 2.500 7,5¢)0 Trading eos¢ of sub$idiry 282.911 181,286 737.429 625,202 Rtstrieied expenditu Chril4ble etivitits Wage5 arbd 5alaric5 Activity cost5 Repair5 and mainl¢nan¢e Dcpreciation Profit on of oiher tan8ible fixed 31.400 3.445 950 186,180 6.123 71.793 1.238 6.989 123.770 33.338 215.852 170,452 Totsl exp¢nditur¢ 953 ?81 795.654 All expendiilhre for the 5ub5idiary. including d¢preei•ion, is Ilded under ¢h¢ heading tr*ling cost of subsidiary. Page 26
ADVENTURE PLUS NOTESTOTHE FIP4ANCIALSTATEMENTS FOR THE I'EAR ETr4DED 31 DECEIIBER 20LI EMPLOYEES Th¢ average number of persons employed by the charity and its subsidiary (including ¢rusieesl during the year w&s'. 2023 21122 21 Average number of employees STAFF cosrs 2023 2022 Sthff cosis for lh¢ Charity durin8 the year amounted to: SalaTiC5 and wages Social security costs Pension ¢ontributions 435.124 26.498 17.974 291,178 24.503 11,395 479.596 327.076 Included in Ihe tradift8 ¢o$is of the subsidiary wer¢ Staff costs as follows.. Salori¢s and wa8es Social security Pension contributions 145.752 9..I(Kl 3.044 94.560 6.679 2.160 158.096 103.199 No employtts received emoluments of more than £60.01. No i51¢t5 received any remunerntion during ihe year or rettived any other benefits from an employment with the eharity or a related entity. KEY MANAGEMENT PERSONNEL REMUNERATION Key m8na8ement personnel remuneration for the year amounied to.. 2023 2022 Salarie5 and wa8CS Pension 51.477 6.153 50.IM4 1.689 51.477 51,733 Page27
ADVENTURE PLUS NOTESTO THE FINANCIALSTATEMENIS FOR THE YEARENDED31 DECEMBER 2013 TAIYGIBLE ASSETS GROUP iAnd A Thd buildings Motor wehicles Other fixed Tot*1 Cos¢ A¢ l January 2023 3.746259 73.080 205 J44 4.024.883 Addiiions 330.818 41,6(KJ 249J60 621.778 Disposals (25.5051 125.505) At 31 December 2023 4.077.077 89.175 454.W4 4.621,156 Aeeymul•ted depreciatio Ai l January 2023 Char8e for the yegr DisFM)sa15 400.347 40.389 130.769 571.505 154.264 17.616 43.129 215,IKI9 116.5321 116,5321 Ai 31 December 2023 554.611 41,473 173.898 769.98 Net boolk value At l January 2023 3.345.912 3?.691 74.775 3.453.378 At 31 December 2023 3.522.466 47.702 281.6 3.851.174 In¢lud¢d in othcr flxd assets are ¢ompuier 4uipmeni, fixiures. finin8s and equipmeni and ienani improvements. P8ge 28
ADVENTURE PLUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR E)DED JI DECEIIBER 2011 TANGIBLE ASSETS (continued...) CHARITY L•nd and buildings Motor wehitles C¥Jmputer t91pment Fixtsres fltt5ngs And equiprnent TotAI Cost Ai l January 2023 3.746.259 Addiiions 330.818 73.080 19.545 103.876 3.942.760 41.6(Kl 12.600 385.018 Disposals At 31 Decernber 2023 125.305) 125.5051 4.077.077 89,17S 19.545 116.476 4.302.273 AccurnulAted Depreci*t5on Ai l January 2023 400.347 Charge for year Disposals At 31 D¢cernber 2023 4KI.389 19.544 62.911 523.191 154.264 17.617 14.457 186.339 116.5321 116.5321 554,61 41.474 19J45 77.368 692,998 Net book vlltse At l January 2023 3.145.912 -12.691 40.965 -1,419,569 At 31 tk¢emb¢r 2023 3.5??.466 47.701 19.108 -1.009.?7S In 2022. it)cluded within land and building additions is a donolion of Lower Fami and associated land io the Charity. This W&5 valued al £1.51)0.000 based on other properties in the market &$ a professional valuation had noi been obiaincd. Page 29
ADVENTURE PLUS NOTES TO THE FINANCIAL STATEMENTS FOR THE I'EAR ENDED 31 DECENIBER 2023 FIXED ASSET INVESTMENTS GROUP CHARITY Anvestment iTh subsidiries Investrnent in 5ub5idi8ries Cost At l J3nuary 2023 At 31 Dember 2023 Nei book v#lue Al l January ?023 Ai 31 December 2023 Adventure Plu5 own5 1000/0 of the issued share capital of its $ubsidi#ry Windmill FAM Conference Centr¢ Limited, company regisiered in England and Wales. The subsidiary's reBisrtd office is Windmill Farni Conference Cenire. Main Street. Clanfi¢ld, B8mpion. Oxfordshire. OX18 ?SN. DEBTORS GROUP CHARITY 2023 2022 2023 2022 Trade debr5 Prepaymen¢s and accrued income Other debrS 210.316 87.042 114248 43.372 13.523 16.%16 SW 6.141 203.961 13.427 18.015 226.243 104.538 324.350 77.014 Included in Charity's Other debior5 is £ 200.296 rettivable in more than one year. 12 CREDITORS: amounts fallin8 due within one year GROUP CHARITY 2023 21122 2023 2022 Trade cr¢diior5 11.565 568 6,662 5.421 19.308 Tation and social security Accruals and def¢rred in¢ome 20.949 4.298 5,083 282.256 1.875 139.452 27.896 170.869 80.305 27.896 Oih¢r credi(ors 308.860 199,86? 175.735 119,946 Page 30
ADVENTURE PLUS NOTES TO THE FINANCIAL STATEMENTS FOR THEI'EAREYDEDJI DECENIBER 2023 13 DEFERRED INCOME ID¢luded in a¢¢wals and d¢ferr¢d income is deferred income of £258.854 in respect of income received in 202.1 which rel&les to 2024. In the OTrts for the yur ended 31 December 2022 income ioialling £6J.304 was deferred and has been released in the subsequeni years. 14 CREDITORS." amounis falling due after more than one year GROLTP CHARITY 2023 21121 2023 2022 Other Creditors 26.IM) 21.(MX> 15 PROVISIONS FOR LIABILITIES GROUP CHARITY Deferred TAxgtio 2023 2022 2013 2022 Acceleraied capiwl allowances 4.600 All d¢ferr¢d tatIon h&s been fvll> proi'ided. GROIIP CHARITY Movernents on deftrred tAX8tion provision Balan¢e brou&)hi forward Transfer during ihe year 2023 2022 2013 2022 4.600 I7.) 4.163 437 B¥lance carried forward 4.600 Page 31
ADVENTURE PLUS NOTES TO THE VINANCIAL ATEmENTs FOR THE I'EAR ENDED31 DECEIIBER 2023 16 COMMITMENTS Amounts falling due und¢rop¢Ning keas¢5'. GROUP CHARITY Deferred Taxation 2023 21122 2023 21112 Expiring in less ihan one year Expiring in more than one bui less than fjve years Exphring in more than five years 6.075 6.075 6.075 6.075 Amounts TeceivHble under operaiiThg le&ses' GROUP CHARITY 21113 2022 2023 2022 Expiring in les5 ihan one year Expiring in more than one bui less ihan five years Expiring in more ihan five years 5.000 20.( 20,000 54.(HXI 59.000 BalaD¢e Carried forward 79,(NKI 84.000 17 ANALYSIS OF NET ASSETS BETWEEN FUNDS Fund balances 31 December 2023 we represen*d by.. Resiri¢ted UThY¢s¢ri¢l¢d funds Total funds Tangible assets Siock Ca$h ai bank and in hd Lkbtors Currcnl liabilities Non-¢urrent liabiliiies 3.609275 241.899 1.273 95.251 226,243 {308.860) {26.(th} 3,851.174 1,273 173.547 226.243 (308.860) 126.000} 78.296 3.687,571 229.806 3,917,377 Page 32
ADVENTURE PLUS NOTESTOTHE FINANCIAL STATEMENTS FOR THE I'EAR ELIDED 31 DECEIllBER 2011 18 MOVEMENT IT4 FUNDS A$#t31 Decembtr 2023 Jinury 2023 lTr¢oming resour¢e Outgoing Trxn$ftn Unrestricted fund5: General funds Designated fund$ Total unresiri¢ied funds 212.600 10.0( 737.635 {730.429) 219.806 10.000 222.600 737.635 1730.49) 229.806 R¢5tricted funds V¢hi¢le and equipmeni Adventure Base and Yurt Complex Salary support fund MAP 35,759 6.649 {25.7941 16.614 3.538,860 279.014 (155.2131 3.662.661 31.4* 3.445 {31.400) 13,445) 8,296 .296 Total restricted funds -1.182.915 3?0.508 {215,8S 3.687.571 Total fund 3.80S.11 S 1.0$8.143 195.1,?81 } 3.917.-177 Page 33
ADVENTURE PLUS NOTESTOTHE FINANCIAL STATEMENTS FOR THE I'EAR ENDED 31 DECEIBER 202J 18 MOVEMENT IN FUNDS Movement in funds (prtViOU5 yexr) Atl January 2022 A5131 Dtcernber 2022 Incoming rt50urce Outgoing re50urtes Tnnsfers Unrestricted funds: General fund$ tksigt)aied funds Tol81 unrestricd fynds 185,768 10,c 652,469 1625.636) 212,600 10.000 195.768 657,469 16?5,6361 222,600 Restrlcted funds Vehicle and equipmeni Adveniure Base and Yurt Complex Salary support futhd MAP 10.476 10.491 14.785 35,759 2.06?,796 1.632.774 20.3C 16.523 1156.710) 120.3001 18.2271 3,538,860 8.296 Tothl restricied funds 2.073.272 1.680,095 {170.4521 3.582.915 Tot1 funds 2.269,040 2.332,564 {796.0881 3.805,515 Vehiele$ and equlpment Fund for puKhasin& or wjssibly maintaining. vehicles. wailer5 and adventure activity ¢4uipm¢nt. Byr$•ry fund Fund for use. at our diserdion and followin8 application and &ssessmeThL in rtduein8 the Price to partieipan15 in our Adventurt Bse and Yurt rompltx The name of ihe fund inio which Ihe funds pUhas¢ Windmill Farni Conference Cenire Limited, the buildings and land were placed. Plus the fund used for developmenl of an xcommLhJation blLKk. activity centre. yurt complex and activities on ihe fields to thc w¢si of the oifi¢es. S419ry 5UPPOrt fund Fund for use in supFN)rting salories of pid wm members. P8ge 34
ADVENTURE PLUS NOTES TO THE FINANCIAL STATEMENTS FOR THEI'EAREliDED31 DECEMBER 2023 19 STATEMENT OF FIIYAIYCIALACTIVITIES- COMPARATIVE FIGURES BY FUND TYPE Unrysiricted Funds Restricted Funds Tot1 Funds 2022 INC.OME tk>naiions and legacies Grant income Charitable xiiviiies Inve5trnent income Other income Aelivilies for 8enerntin8 funds 201778 4.000 207.500 1.781 25.381 211.029 180,095 382.873 4.000 207.500 1.781 25.381 211,029 TotAI Income 6$1.469 180.095 832.564 Expettdllure on: ChaTltable a¢iiviiies Governance cosis Trddin8 Cost of subsidiary 436.416 7.500 181.286 170.452 606.868 7.500 181.286 Tot1 expendlluj 6?5 ?0? 170.452 795,654 NET INCOME 27,267 9.643 36.910 Extraordinary income Subsidiary corporation t i.5(K).l 1.500.(M)O 435 NET MOVEMENT IN FIINDS 26.832 1.509.643 1.5.16.475 Retoneillation of fthnds Toitl fuT5 at l January 2022 195.768 2.073.272 2.269.040 Toial funds ai 31 December 2022 222.600 3.582.914 3.805.515 Page 35
ADVEiYfuRE PLUS NOTES TO THE FINANCIAL SfATEMENTS FOR THE I'EAR ENDED 31 DECEIIBER 2023 20 RELATED PARTY TRANSACTIONS Durin8 the year the Ch8rity mad¢ the followiD8 reled pany transa¢iions: Trustee$ As ¢1[ as donaiion their time and expertise dwing 2023 the trUceS ma¢k unconditional th)natitins of £27012022- £1.7001 ihe Chwity. No trusiees incurred experhses durLII8 the year or rrteived any remu[Ni0n for their services. Sub$ldl#ry ndert#king The ¢ompany h8s claimed exemwions fiDm disclosure of reled pty tranStionS with the followin8 wholly owned 8roup members.. Windmill Farn) Conference Centre Limiied- Subsidiary 21 ANALYSISOFCASH AND CASH EQUIVALENTS GROUP CHARITY 2023 2t122 1023 2012 C4$h in hd 173.547 455.404 162,423 366.165 Toil cxsh #nd t5h tgulvalents 171.547 455.404 162.423 366.165 Page 36