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2025-12-31-accounts

Registered number: 04175683 Charity number: 1087001

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 9
Trustees' responsibilities statement 10
Independent auditors' report on the financial statements 11 - 14
Statement of financial activities 15
Balance sheet 16 - 17
Statement of cash flows 18
Notes to the financial statements 19 - 38

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025

Trustees J Bishop, Chair
J Murray
M Pitts
I Rees
A Webb
F Harvey (appointed 15 February 2025)
Company registered
number
04175683
Charity registered
number
1087001
Registered office
Heatree House
Manaton
Newton Abbot
Devon
TQ13 9XE
Senior Management
Team
S McIIhenny, Centre Manager
Independent auditors
Griffin
Chartered Accountants
Courtenay House
Pynes Hill
Exeter
EX2 5AZ

Page 1

HEATHERCOMBE BRAKE TRUST (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Introduction

Heathercombe Brake Trust is a Christian charity that helps children and young people encounter God through adventure. The trustees of Heathercombe Brake Trust (the Charity) present their annual report and financial statements for the year ended 31 December 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 of the accounts, and comply with the Charity's Memorandum and Articles of Association, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 December 2025.

a. Objectives and Activities

Our Charity’s purposes, as set out in the Objects contained in the company’s Memorandum of Association are:

Heathercombe Brake Trust has Vision and Mission statements, to provide a clearer understanding of the legal wording of the Objects in the Memorandum of Association. The statements help to explain how we use adventurous outdoor learning to fulfil our charitable objectives. The statements are as follows:

Our Vision

For children and young people to encounter God through adventure.

Our Mission

To facilitate outdoor adventure learning experiences through which children and young people can discover more about the Christian faith and have life-changing encounters with God.

Our outdoor learning programmes are specifically designed to help children and young people discover and explore the Christian faith, whilst developing their confidence, and understanding and appreciation of the natural environment. These enriching experiences provide opportunities where young people are challenged to step outside their comfort zone, expand their knowledge and promote their physical, spiritual, and mental well-being.

Page 2

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

b. 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.

Heatree enables access to places and activities that typically need specialist knowledge or equipment, which can leave them to be experienced by only a small percentage of the population. We are committed to making outdoor education accessible to everyone, regardless of life experience, socio economic background or ability Our highly qualified and experienced team will adapt and tailor the activities to meet the needs of children and young people, facilitating individualised learning.

The Trust has covered the costs for 522 visitors on residential visits to Heatree with a value of £75,607 and a further 616 young people have been awarded discounted places for residentials at Heatree through the Quantick Bursary Fund, to the value of £29,673.

a. Strategic report

Achievements and Performance

We prioritise facilitating two main guest categories: youth groups and schools.

Youth Groups

Supporting Christian youth groups remains at the heart of Heatree’s charitable purpose, and we continue to prioritise these groups through preferential rates and flexible booking terms to ensure residential experiences remain fully accessible. We believe that time spent outdoors—engaging in adventurous activities, developing community, and exploring the gospel—has a lasting, positive impact on the physical, mental and spiritual wellbeing of young people.

We witness first hand how Christian residentials create an environment where faith can take root and grow. Research indicates that young people attending camps and residentials are significantly more likely to take early steps of faith and continue developing in their walk with God, with measurable increases in prayer, Bible engagement and church involvement following these experiences. These experiences offer a rare opportunity to step away from everyday pressures and encounter God in creation.

Youth groups can apply for the Quantick Bursary, providing a 30% reduction on visit costs and ensuring support reaches those who need it most. This enables more young people to experience the transformative impact of time spent in creation, community and Christian adventure.

Schools

Experiential, hands on learning continues to be a cornerstone of our outdoor adventure education at Heatree. By placing young people at the centre of their learning, we see them grow in confidence, resilience and teamwork. Through adventure activities—combined with space for reflection, conversation and Christian input—children learn to face challenges, trust others, deepen relationships with their peers, and recognise their own unique gifts and how these might be used in the service of others.

During each residential, Heatree staff aim to adapt their approach to ensure that every group of children and young people has meaningful opportunities to learn about and encounter God. As schools vary widely in their needs and backgrounds, our team responds with sensitivity, tailoring sessions to support understanding of the Christian faith in ways that are age appropriate, accessible and engaging.

Page 3

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

By equipping pupils with clear, thoughtful explanations of Christian beliefs, we aim to support them as they form their own views about Jesus and explore the relevance of faith in everyday life.

We currently offer three types of school residentials, each with different price points and available at varying times of the year:

The ‘Discovery’ Pilot

In Autumn 2025, we completed the pilot of our Discovery programme: a three day residential for 90 pupils in Years 5 and 6. During their stay, pupils explored two units of the Devon and Torbay RE syllabus while engaging in adventurous outdoor activities around the Heatree grounds.

Children discussed themes such as the theory of evolution, reflected on the values that shape their lives, and shared insights around the campfire. Teachers reported exceptionally high levels of engagement—levels they felt would be impossible to achieve in a traditional classroom setting.

We give thanks to God for the success of this new programme. One of our key challenges for the next five years will be expanding access so that more children and young people can benefit from these unique learning and spiritual opportunities.

We are blessed to welcome schools from long distances across the country. However, increasing travel costs are beginning to make trips to Heatree difficult for some. As a result, it is timely and important for us to build new relationships with schools in our local area and encourage them to consider Heatree as a residential destination.

By expanding local engagement, by promoting the Discover and Explore programmes we hope to ensure that more children—can encounter the life changing mix of outdoor adventure and Christian exploration that lies at the heart of our mission.

We offer free places for teachers in a ratio of 1:10 and free places for all SEND support staff. In 2025 the Trust provided additional staffing and support to schools for 355 helpers, at a value of £65,313 We have provided residentials for 2639 children this year with our catchment area being primarily the SouthWest of England.

Feedback from our school groups has been consistently excellent, providing strong assurance that our work is making a meaningful and positive impact on the children and young people who attend. The following comments from visiting school groups further illustrate this impact:

‘This class were a quieter class of children. It was brilliant to see the children thriving, smiling and believing in themselves. The memories of their time at Heatree will stay with them forever.

All the staff at Heatree (instructors, office, kitchen & cleaners) went above and beyond for our school. They are all friendly, enthusiastic people who are nothing short of amazing! Nothing was ever too much and even when we decided to stay for an extra 4 hours (due to the coach not arriving), they provided extra activities and food to ensure we still left on a high.‘

Page 4

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Another teacher stated:

‘Many of our learners had never stayed away from home before, so just having the opportunity to do that is incredible for them. The learners took on challenges that we didn't even know they could do! This experience has improved their self-esteem, independence and confidence. I have fed back to staff about some of the things their learners did at Heatree and now the staff will use this information to adapt the curriculum for these individual learners to make more progress.’

One child commented:

‘I love Heatree because we get to spend time in nature and that makes my mind feel calmer.’

Free Places

Summer camp attendance has not yet returned to pre pandemic levels, largely due to the ongoing pressures of the cost of living crisis. To ensure continued accessibility, the Trust provides free places for youth leaders and for children under the age of four. During the year, the Trust supported 73 free leader places, valued at £10,294, alongside 94 free places for children under four

Quantick Bursary Fund

The Trustees are pleased to continue the fund which has benefited 616 (2024:419) young people, who came to Heatree as part of their youth weekend away or school residential, and who would not otherwise have been able to do so. All applications submitted met the qualifying criteria and provided strong and encouraging reasoning for being awarded funding.

2025 Figures Amount
Opening balance in Quantick Fund January 2025 £18,586
Total amount awarded in 2025 £29,674
Total amount raised from groups in 2025 £6,905
Total amount raised from donations in 2025 £5,400
Amount remaining in fund December 2025 £1,217

Feedback from our youth groups has been highly positive, providing clear evidence that our work is having a meaningful and beneficial impact on the lives of more than 616 young people. The following comments from youth leaders illustrate this impact:

‘The young people enjoyed exploring the concepts of being known by God and knowing God this weekend. It was great to have more time and space for it. They were very open and wanting to ask lots of questions. It was wonderful to see youth asking deep searching questions who have not done so at youth before! We also saw much more mingling between friendship groups and them being kind and thoughtful of each other.’

Another leader commented:

‘The outdoor provision was spot-on both for our group size and demographic. We had quite a heavy/deep teaching and ministry focus and the archery tag was a perfect level of fun and grit. It brought leaders and youth together in a really helpful way. Overall, the weekend was an incredible time. Young people encountered God in a new and profound way.’

Friends of Heatree

We give thanks to God for the growth of our Friends of Heatree support group, which now includes 93 committed members. We are deeply grateful for the generous donations and faithful support that the Lord has provided through them throughout the year.

Page 5

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Donations

We wish to express our sincere gratitude to God for the individuals, churches and organisations who have generously contributed their time, financial support and resources to the Trust throughout 2025. Their faithful partnership has been a tangible provision and blessing to our work.

Staff

In 2025, we hired new staff members for our Catering, Outdoor Education and Office teams who are committed to improving the Heatree experience for our guests..

Facilities

The year’s facility improvements included restoring deteriorated farmyard stonework and re-roofing long-derelict barns to create secure storage space, along with fitting new ventilation in bedrooms 1–5 to eliminate mould. The Trust also fully refurbished the bathroom in Room 19, with work on Room 31 scheduled for Winter 2025, and continued the ongoing replacement of faulty shower valves. Further enhancements included replacing the final ten wooden bunk beds, converting all lighting to LED, laying new carpet on the second floor of the Farmhouse wing, and installing a commercial dishwasher in Stables to improve the guest experience.

Estate

The Trust continues to be involved in the East Dartmoor Landscape Recovery programme, a long-term Government initiative that will provide 20 years of dedicated funding to enhance and protect local biodiversity. Work across the estate has progressed significantly, including the establishment of the Cripdon Down Commons Association and the creation of new access paths that not only improve visitor routes but also serve as essential firebreaks. Swaling has encouraged healthy new growth across the moorland, while storm damage from storms Bert and Eowyn was carefully cleared to remove dangerous trees, unblock watercourses and safeguard key areas of the estate. A copper beech near the kitchen was also removed to protect the building structure and ensure safe access.

Further developments this year included the creation of two new woodland activity sites with fire pits, offering enriched outdoor learning spaces for visiting groups. The Bronze Age roundhouse thatched roof was renovated. Ongoing estate work continues to focus on maintaining paths, clearing ditches and removing hazardous trees—tasks made increasingly essential due to the growing impact of unpredictable weather patterns. Together, these efforts reflect the Trust’s commitment to environmental stewardship, safety and the long-term flourishing of the Heatree estate.

Activities

Our activity provision remains one of Heatree’s greatest strengths—inviting children and young people to encounter God through challenge, discovery and adventure. Each year we deliver thousands of sessions for schools, weekend groups and summer camps. Significant work has taken place in creating our Discovery Residential programme, carefully shaped to support the curriculum for Years 5 and 6 as they learn about Christianity.

This year included redesigning our low adventure course with building several new elements as well as ongoing maintenance to ensure all activities remain safe, of high quality and mission aligned. We also introduced Archery Tag, a new and highly popular addition, which is particularly enjoyed by youth groups.

We were pleased to host a Teacher INSET training day for one of our key partner schools. Its success has encouraged us to expand this offering and continue providing similar training for our regular school groups in the years ahead.

Page 6

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Future Plans

The Board of Trustees is actively developing strategic plans to ensure the longevity of the buildings and estate, as well as to uphold the vision and mission of the Charity for future generations. The trustees acknowledge the need for significant investment, particularly in improving accessibility, diversifying accommodation facilities, and enhancing the provision of activities. The plan is to submit plans for Planning Permission in 2026 and seek external funding to begin these developments.

Financial review

a. Going concern

The Trustees have assessed the prospects of the charity over the next 18 months through budgets, cashflow forecasts and discussion with the current auditors.

Future budgeting is based on up to three schools visiting in any one week, with the addition of grant funded groups and using the potential of a small third wing for occasional extra groups. Future predictions take into account the rapid rise in most overhead costs, particularly in wages, catering, maintenance and energy.

The cash balance at the end of December 2025 was £750,844, which includes outstanding loan capital of £46,560. Based on the cashflows and budgets prepared the trustees are of the opinion that the charity is a going concern, and the accounts have therefore been prepared on a going concern basis.

b. Reserves policy and Funds

The trustees have examined the Charity's requirement for reserves, which are unrestricted funds not committed or invested in tangible fixed assets, to provide the Charity with a level of operational flexibility. The Board considers it appropriate to hold £120,000, representing a short period of operating costs, as a contingency reserve and given the seasonal nature of the Charity's operations, a further £100,000 by way of a cash flow reserve. The trustees consider this to be an appropriate amount to provide the necessary working capital for the Charity and to cover unforeseen events.

The total unrestricted reserves of the Charity on 31 December 2025 were £1,530,325 (2024: £1,611,083), of which £922,501 (2024: £1,023,539) is the Fixed Asset Reserve and £1,217 (2024: £18,586) relates to the Quantick Fund.

The Quantick Fund exists to enable disadvantaged children and young people (under 18) to visit Heatree, who might not otherwise get the opportunity to do so. The number of young people visiting Heatree who are eligible for this fund continues to rise sharply with grants totaling £29,674 awarded in 2025.

The total restricted reserves of the Charity on 31 December 2025 were £3,580 (2024: £3,580) which relate to Camp Courageous.

A new designated fund was introduced in 2025 to cover a major maintenance project due to take place in 2026. This amounted to £250,000 and was transferred from the unrestricted free reserves. The unrestricted free reserves at the end of 2025 was £356,607.

The Fixed Asset Reserve represents the carrying value of tangible fixed assets on the Charities Balance Sheet. This is reduced by depreciation annually. ,

Page 7

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

c. Financial Review

After paying all costs and providing for working capital the Board's policy is to reinvest any surpluses, together with any donations received, into the further development of the Centre, to provide increased and improved facilities for the benefit of the users, in line with the Charity objectives.

The trustees regularly review income, profitability, and liquidity, comparing budgets with forecasts. The financial management of the Centre focuses on meeting its charitable aims and managing expenditure in line with activity volumes where possible.

At the end of 2025, before the deduction of depreciation, funds of £29,002 (2024: £59,558) were generated in the year. The depreciation charge for 2025 was £109,760 (2023: £109,289). These figures reflect the prior year adjustment of £16,776 grant monies received in 2025 but which are included in 2024 accounts under charity accounting rules.

d. Risk Management

The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Centre's policies, which mitigate the inherent risks associated with the Centre and its activities, were reviewed during the year. The review drew on internal experience and external/professional advice to continue to ensure the Centre meets both internal and external scrutiny, with detailed attention paid to the relevant risk assessments. Procedures are in place for staff training, from the induction stage and covering all essential policies, including Safeguarding and Health and Safety.

Funds are allocated annually for ongoing asset maintenance and replacement, and plans are reviewed regularly to ensure facilities remain in good order and are appropriate for young people.

Appropriate commercial insurance cover is maintained annually to cover public and employer's liabilities and insuring buildings and facilities for replacement value.

The trustees are developing a new risk management framework to better enable a regular and systematic review of risks at every Board meeting.

Heatree is licensed by AALA (the Adventure Activities Licensing Authority) and has a highly experienced and qualified instructor team. We have been delivering high quality outdoor education programmes for over 30 years.

a. Structure, Governance and Management Constitution

Heathercombe Brake Trust is a charitable company limited by guarantee, trading as Heatree Activity Centre. It is governed by its Memorandum and Articles of Association, dated 8 March 2001, and amended by Special Resolution dated 1 August 2013. It is registered with the Charity Commission.

Page 8

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

b. Appointment of Trustees

The trustees may, from time to time, seek to appoint new trustees. When choosing and appointing new trustees, emphasis is placed on their experience in the wider community and their sharing of the Christian faith and ethos. The number of trustees shall not be less than three or more than nine. Trustees are appointed for a term of three years and may renew that appointment for successive terms. One new Trustees was appointed during 2025.

Vacancies for trustees are posted on the Heatree Activity Centre website and any trustee may nominate potential new trustees to be considered for election. Once elected, new trustees will have a period of induction and training. This involves information sharing, visits to the Centre and interviews with other trustees. Ongoing training includes cascaded information from journals and forums, updates from professional organisations and regular reviews of publications.

The Board of Trustees generally meets four times every year to administer the Charity.

The pay policy for staff is proposed by the Chief Executive Officer, taking account of the Centre and individual performance, affordability, and market conditions, including legislative matters such as the statutory minimum and statutory living wage. The policy applies to all staff and is within a set banded pay structure. Two Trustees will be responsible for appraisal and performance management of the Chief Executive and pay awards for this role will be benchmarked against the same role in similar organisations and agreed by the Trustees. Trustees receive the proposals in the last Board meeting of each financial year and any pay awards are effective from 1st January the following year. Pay awards were made in 2025.

c. Key Management Personnel

The key management personnel of the Charity during the year consisted of the Trustees and the Chief Executive Officer.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

The auditors, Griffin, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees on 16 April 2026 and signed on their behalf by:

................................................

J Bishop (Chair of Trustees)

Page 9

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees (who are also the directors of the Charity 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).

Company law requires the Trustees to prepare financial statements for each financial . 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 Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on 16 April 2026 and signed on its behalf by:

................................................

J Bishop (Chair of Trustees)

Page 10

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HEATHERCOMBE BRAKE TRUST

Opinion

We have audited the financial statements of Heathercombe Brake Trust (the 'charitable company') for the year ended 31 December 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Page 11

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HEATHERCOMBE BRAKE TRUST (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

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

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

Page 12

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HEATHERCOMBE BRAKE TRUST (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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

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

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 13

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HEATHERCOMBE BRAKE TRUST (CONTINUED)

Use of our report

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

Laura Waycott FCA (Senior statutory auditor)

for and on behalf of Griffin Statutory Auditor Courtenay House Pynes Hill Exeter EX2 5AZ

Date: 21/5/26

Griffin are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 14

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025

Note
Income from:
Donations and legacies
4
Charitable activities
5
Investments
6
Total income
Expenditure on:
Charitable activities
7
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2025
£
-
-
-
-
-
-
-
3,580
-
3,580		 Unrestricted
funds
2025
£
24,026
988,315
17,300
1,029,641
1,110,399
1,110,399
(80,758)
1,611,083
(80,758)
1,530,325		 Total
funds
2025
£
24,026
988,315
17,300
1,029,641
1,110,399
1,110,399
(80,758)
1,614,663
(80,758)
1,533,905		 As restated
Total
funds
2024
£
22,217
948,972
11,812
983,001
1,032,732
1,032,732
(49,731)
1,664,394
(49,731)
1,614,663

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 19 to 38 form part of these financial statements.

Page 15

HEATHERCOMBE BRAKE TRUST (A company limited by guarantee) REGISTERED NUMBER: 04175683

BALANCE SHEET AS AT 31 DECEMBER 2025

Note
Fixed assets
Tangible assets
11
Current assets
Stocks
12
Debtors
13
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
14
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
15
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
17
Unrestricted funds
Designated funds
17
General funds
17
Total unrestricted funds
17
Total funds		 8,560
22,148
750,844
781,552
(163,508)
1,173,718
356,607		 2025
£
922,501
922,501
618,044
1,540,545
(6,640)
1,533,905
1,533,905
3,580
1,530,325
1,533,905		 11,469
50,228
709,035
770,732
(133,048)
1,042,125
568,958		 As restated
2024
£
1,023,539
1,023,539
637,684
1,661,223
(46,560)
1,614,663
1,614,663
3,580
1,611,083
1,614,663

Page 16

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 144 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 16 April 2026 and signed on their behalf by:

J Bishop (Chair of Trustees)

The notes on pages 19 to 38 form part of these financial statements.

Page 17

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Net cash provided by/(used in) investing activities
Cash flows from financing activities
Repayments of borrowing
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2025
£
83,152
17,300
-
(8,723)
8,577
(49,920)
(49,920)
41,809
709,035
750,844		 2024
£
(3,004)
11,812
12,300
(51,803)
(27,691)
(49,920)
(49,920)
(80,615)
789,650
709,035

The notes on pages 19 to 38 form part of these financial statements

Page 18

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. General information

Heathercombe Brake Trust is a Charitable Company, registered in England and Wales. The registration number is 04175683 and the registered office address is Heatree House, Manaton, Newton Abbot, Devon, TQ13 9XE.

2. Accounting policies

2.1 Basis of preparation of financial statements

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

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

2.2 Going concern

The trustees confirm that, having considered their expectations and intentions for the next twelve months, and the availability of working capital, the Charity is a going concern.

2.3 Income

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

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 19

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities upon the completion of the relevant performance-related conditions. Other grants that are not subject to performance-related conditions are credited to the Statement of financial activities as the grant proceeds are received. Grants received prior to the revenue recognition criteria being satisfied are recognised as a liability.

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.7 Taxation

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

2.8 Tangible fixed assets and depreciation

Tangible fixed assets costing £2,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Page 20

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

2.8 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives as follows:

Freehold property - 2% Straight line Building works included in - 10% Straight line freehold property Plant and machinery - 20% Straight line Motor vehicles - 25% Reducing balance Fixtures and fittings - 20% Straight line

2.9 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.11 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.12 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.13 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 21

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

2.14 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Depreciation is estimated over the useful economic life of an asset in order to write off the value of this asset in line with life.

Page 22

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

4. Income from donations and legacies

Grants
Grants
5.
Income from charitable activities
Income from charitable activities
Income from charitable activities		 Unrestricted
funds
2025
£
24,026
As restated
Unrestricted
funds
2024
£
22,217
Unrestricted
funds
2025
£
988,315
Unrestricted
funds
2024
£
948,972		 Total
funds
2025
£
24,026
Total
funds
2024
£
22,217
Total
funds
2025
£
988,315
Total
funds
2024
£
948,972

Page 23

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

6. Investment income

Investment income
Investment income
Analysis of expenditure by activities
Charitable activities
Charitable activities		 Activities
undertaken
directly
2025
£
424,543
Activities
undertaken
directly
2024
£
390,336		 Unrestricted
funds
2025
£
17,300
Unrestricted
funds
2024
£
11,812
Support
costs
2025
£
685,856
Support
costs
2024
£
642,396		 Total
funds
2025
£
17,300
Total
funds
2024
£
11,812
Total
funds
2025
£
1,110,399
Total
funds
2024
£
1,032,732

7. Analysis of expenditure by activities

Page 24

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

7. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Catering provisions
Housekeeping supplies
Staff costs
Catering provisions
Housekeeping supplies		 Activities
2025
£
318,679
95,949
9,915
424,543
Activities
2024
£
276,952
105,709
7,675
390,336		 Total
funds
2025
£
318,679
95,949
9,915
424,543
Total
funds
2024
£
276,952
105,709
7,675
390,336

Page 25

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Depreciation
PPE equipment
Stationery and advertising
Telephone and internet
Motor and travel expenses
Repairs and maintenance
Bank charges and loan interest
Rates
Insurance
Heat and light
Staff training
Governance costs		 Activities
2025
£
317,075
109,759
4,434
3,124
20,599
4,862
98,307
5,804
14,145
31,096
55,457
10,095
11,099
685,856		 Total
funds
2025
£
317,075
109,759
4,434
3,124
20,599
4,862
98,307
5,804
14,145
31,096
55,457
10,095
11,099
685,856

Page 26

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

7. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Staff costs
Depreciation
PPE equipment
Stationery and advertising
Telephone and internet
Motor and travel expenses
Repairs and maintenance
Bank charges and loan interest
Rates
Insurance
Heat and light
Staff training
Profit on disposal
Governance costs		 Activities
2024
£
304,683
109,289
1,770
1,547
15,832
8,970
75,166
10,335
14,373
25,541
63,393
9,674
(8,282)
10,105
642,396		 Total
funds
2024
£
304,683
109,289
1,770
1,547
15,832
8,970
75,166
10,335
14,373
25,541
63,393
9,674
(8,282)
10,105
642,396

8. Auditors' remuneration

Auditors' remuneration
2025 2024
£ £
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts 6,498 6,186
Fees payable to the Charity's auditor in respect of:
All non-audit services not included above 2,700 2,580

Page 27

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2025
£
570,098
47,343
18,313
635,754		 2024
£
531,201
34,228
16,206
581,635

The average number of persons employed by the Charity during the year was as follows:

Management
Support		 2025
No.
1
32
33		 2024
No.
1
31
32

No employee received remuneration amounting to more than £60,000 in either year.

Key management personnel of the charity comprise of the Centre Manager. The total employee benefit paid to the key management personnel in the year to 31 December 2025 is £50,056 (2024: £39,630).

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 December 2025, expenses totalling £ 584 in relation to travel expenses were reimbursed or paid directly to 2 Trustees (2024 - £486 to 2 Trustees) .

Page 28

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

11. Tangible fixed assets

Cost or valuation
At 1 January 2025
Additions
At 31 December 2025
Depreciation
At 1 January 2025
Charge for the year
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024		 Freehold
property
£
1,861,442
-
1,861,442
962,225
51,111
1,013,336
848,106
899,217		 Plant and
machinery
£
336,555
8,723
345,278
260,800
43,944
304,744
40,534
75,755		 Motor
vehicles
£
32,532
-
32,532
5,382
6,788
12,170
20,362
27,150		 Fixtures and
fittings
£
204,508
-
204,508
183,092
7,917
191,009
13,499
21,416		 Total
£
2,435,037
8,723
2,443,760
1,411,499
109,760
1,521,259
922,501
1,023,538

12. Stocks

2025 2024
£ £
Kitchen and shop stock 8,560 11,469

Page 29

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

13. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2025
£
10,942
5,511
5,695
22,148		 As restated
2024
£
23,488
7,824
18,916
50,228

14. Creditors: Amounts falling due within one year

Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 January 2025
Resources deferred during the year
Amounts released from previous periods		 2025
£
39,920
10,480
4,548
1,843
106,717
163,508
2025
£
58,554
97,458
(58,554)
97,458		 2024
£
49,920
8,381
2,003
5,430
67,314
133,048
2024
£
91,073
58,554
(91,073)
58,554

At the balance sheet date the Chairty was holding funds received in advance of £97,458 from a number of schools in relation to deposits paid for future trips.

The bank loan balances consists of two Coronavirus Buisness Interruption Loans which have repayment terms of 6 years. For both loans no capital repayments are due for the first 12 months, the balances are then repayable over the remaining 5 years by monthly instalments. Interest is charged at 2.18% above base rate. These loans are unsecured.

Page 30

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

15. Creditors: Amounts falling due after more than one year

Bank loans
Included within the above are amounts falling due as follows:
Between one and two years
Bank loans
Between two and five years
Bank loans
Over five years		 2025
£
6,640
2025
£
6,640
-		 2024
£
46,560
2024
£
39,920
6,640

The bank loan balances consists of two Coronavirus Buisness Interruption Loans which have repayment terms of 6 years. For both loans no capital repayments are due for the first 12 months, the balances are then repayable over the remaining 5 years by monthly instalments. Interest is charged at 2.18% above base rate. These loans are unsecured.

16. Prior year adjustments

£16,776 of grant income from UK Youth should have been accrued within the previous financial year. Prior year adjustments have been made this year to reflect this.

Page 31

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

17. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Fixed asset reserve
Quantick fund
Maintenance fund
General funds
Free reserves
Total Unrestricted funds
Restricted funds
Camp Courageous
Total of funds		 Balance at 1
January
2025
£
1,023,539
18,586
-
1,042,125
568,958
1,611,083
3,580
1,614,663		 Income
£
-
5,400
-
5,400
1,024,241
1,029,641
-
1,029,641		 Expenditure
£
(109,761)
(29,674)
-
(139,435)
(970,964)
(1,110,399)
-
(1,110,399)		 Transfers
in/out
£
8,723
6,905
250,000
265,628
(265,628)
-
-
-		 Balance at
31
December
2025
£
922,501
1,217
250,000
1,173,718
356,607
1,530,325
3,580
1,533,905

Page 32

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

17. Statement of funds (continued)

DESIGNATED FUNDS

Quantick fund

The Quantick fund (previously known as the Access fund) is a hardship/deprivation fund available to needy and deprived groups, with a focus on disadvantaged children in a Christian environment. During the year income of £5,400 was received and £6,905 was transfered in from the free reserves. £29,674 was paid out of the fund resulting in a carried forward balance of £1,217.

Fixed asset fund

The fixed asset fund represents the carrying value of tangible fixed assets on the Charities Balance Sheet.

Maintenance fund

The maintenance fund represents investment in the needed capital works to Farmhouse and Stables wings during 2026. To include kitchens, hot water system, refurbishment of bedrooms, pointing, carpets, Heatree chairs, decorating.

RESTRICTED FUNDS

Camp Courageous

The Charity established a legacy project on its 25th anniversary called Camp Courageous. In previous years the Charity raised funds to provide free places at the camp at Heatree for families from South Devon with children suffering from Down's Syndrome. There was no movement in this fund during the year.

GENERAL FUNDS

Free Reserves

This consists income and expenditure from school and youth group trips, as well as rental income through AirBnB.

Page 33

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

17. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Fixed asset reserve
Quantick fund
General funds
Free reserves
Total Unrestricted funds
Restricted funds
Camp Courageous
Total of funds		 Balance at
1 January
2024
£
1,085,043
24,076
1,109,119
551,695
1,660,814
3,580
1,664,394		 As restated
Income
£
-
1,388
1,388
981,613
983,001
-
983,001		 Expenditure
£
(109,288)
(22,661)
(131,949)
(900,783)
(1,032,732)
-
(1,032,732)		 Transfers
in/out
£
47,784
15,783
63,567
(63,567)
-
-
-		 As restated
Balance at
31
December
2024
£
1,023,539
18,586
1,042,125
568,958
1,611,083
3,580
1,614,663

Page 34

HEATHERCOMBE BRAKE TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

18. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds		 Balance at 1
January
2025
£
1,042,125
568,958
3,580
1,614,663
Balance at
1 January
2024
£
1,109,119
551,695
3,580
1,664,394		 Income
£
5,400
1,024,241
-
1,029,641
As restated
Income
£
1,388
981,613
-
983,001		 Expenditure
£
(139,435)
(970,964)
-
(1,110,399)
Expenditure
£
(131,949)
(900,783)
-
(1,032,732)		 Transfers
in/out
£
265,628
(265,628)
-
-
Transfers
in/out
£
63,567
(63,567)
-
-		 Balance at
31
December
2025
£
1,173,718
356,607
3,580
1,533,905
As
restated
Balance at
31
December
2024
£
1,042,125
568,958
3,580
Summary of funds - prior year
Designated funds
General funds
Restricted funds
1,614,663

19. Analysis of net assets between funds Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Restricted
funds
2025
£
-
3,580
-
-
3,580		 Unrestricted
funds
2025
£
922,501
777,972
(163,508)
(6,640)
1,530,325		 Total
funds
2025
£
922,501
781,552
(163,508)
(6,640)
1,533,905

Page 35

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

19. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Restricted
funds
2024
£
-
3,580
-
-
3,580		 As restated
Unrestricted
funds
2024
£
1,023,539
767,152
(133,048)
(46,560)
1,611,083		 As restated
Total
funds
2024
£
1,023,539
770,732
(133,048)
(46,560)
1,614,663

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Profit on the sale of fixed assets
(Increase)/Decrease in stocks
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
Net cash provided by operating activities		 2025
£
(80,758)
109,760
(17,300)
-
2,909
28,080
40,460
83,151		 As restated
2024
£
(49,731)
109,289
(11,812)
(8,282)
(80)
4,872
(30,484)
13,772

Page 36

(A company limited by guarantee)

HEATHERCOMBE BRAKE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

21. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 2025
£
750,844
750,844		 2024
£
709,035
709,035

22. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year		 At 1 January
2025
£
709,035
(49,920)
(46,560)
612,555		 Cash flows
£
41,809
49,920
-
91,729		 Other non-
cash
changes
£
-
(39,920)
39,920
-		 At 31
December
2025
£
750,844
(39,920)
(6,640)
704,284

23. Pension commitments

The Charity operates a defined contibutions pension scheme. The assets of the scheme are held seperately from those of the Charity in an independent administered fund. The pension cost charge represents contributions payable by the Company to the fund and mounted to £18,313 (2024: £16,206). Contributions totalling £4,548 (2024: £2,003) were payable to the fund at the balance sheet date and are included in creditors.

Page 37

HEATHERCOMBE BRAKE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

24. Related party transactions

J Bishop (trustee) is a director of Cornerstone Academy Trust, which includes both Broadclyst and Westclyst Community Primary Schools. The Charity received £81,198 (2024: £44,155) in the year from these schools for residential trips. The costs charged to Broadclyst and Westclyst Community Primary Schools were inline with costs charged to other schools.

J Bishop's sister is the organiser of the youth group Dartmoor Christian Camp (DCC). The youth group paid a discounted price of £9,071 (2024: £4,601) for a residential trip. However, the discount offered to DCC was inline with discounts offered to other youth groups via the Quantick fund.

M Pitts is the chair of Trustees at Exmouth Chapel Youth which visited for activity sessions and paid £637. They qualified for quantic fund and the pricing agrees to the reduction.

J Bishop and A Web are elders at Whipton Chapel who spent 2 days at Heatree costing £477. The costs charged to Whipton Chapel were inline with costs charged to other Chapels.

25. Controlling party

The Charity is under the control of the trustees and there is not considered to be an ultimate controlling party.

Page 38

SIGNATURE CERTIFICATE

REFERENCE NUMBER E381B06F-CE52-4CF3-9061-77C4C4EF614E

TRANSACTION DETAILS

Reference Number

E381B06F-CE52-4CF3-9061-77C4C4EF614E Transaction Type Signature Request Sent At 05/15/2026 09:39:45 AM EDT Executed At 05/21/2026 03:00:00 AM EDT Identity Method email Distribution Method email

DOCUMENT DETAILS

Document Name Heathercombe Brake Trust 2025 - Full Accounts Filename Heathercombe_Brake_Trust_2025_-_Full_Accounts.pdf Pages 40 pages Content Type application/pdf File Size 309 KB Original Checksum

144c6870da1b0bb4e0f75937e2a8ef736cf25b28011bc26b4e1197ce94fc9d4e

Signed Checksum

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Signer Sequencing Disabled Document Passcode Disabled eIDAS Authentication Disabled

SIGNERS

SIGNER E-SIGNATURE EVENTS Name Status Viewed At Jonathan Bishop signed 05/21/2026 02:59:29 AM EDT Email Multi-factor Digital Fingerprint Checksum Identity Authenticated At jonathan.bishop@tcat.education 4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945 05/21/2026 03:00:00 AM EDT Components IP Address Signed At 3 2.97.128.171 05/21/2026 03:00:00 AM EDT Device Microsoft Edge via Windows Uploaded Signature

Signature Reference ID 9A7A4823

Uploaded Signature

Signature Reference ID BD2AC2A5

Uploaded Signature

Signature Reference ID E72A3414

AUDITS

TIMESTAMP

05/15/2026 09:39:45 AM EDT

05/15/2026 09:39:46 AM EDT 05/21/2026 02:59:29 AM EDT 05/21/2026 03:00:00 AM EDT 05/21/2026 03:00:00 AM EDT

AUDIT

Team Griffin (office@griffinaccountancy.co.uk) created document 'Heathercombe_Brake_Trust_2025__Full_Accounts.pdf' on Microsoft Edge via Windows from 185.253.179.97. Jonathan Bishop (jonathan.bishop@tcat.education) was emailed a link to sign.

Jonathan Bishop (jonathan.bishop@tcat.education) viewed the document on Microsoft Edge via Windows from 2.97.128.171.

Jonathan Bishop (jonathan.bishop@tcat.education) authenticated via email on Microsoft Edge via Windows from 2.97.128.171.

Jonathan Bishop (jonathan.bishop@tcat.education) signed the document on Microsoft Edge via Windows from 2.97.128.171.