RELEASING POTENTIAL Releasin Potential Limited Annual Report of the Trustees and Financial Statements For the year ended 31 August 2025 ELEASING
Executive Summary We began the 2024-25 academic year, with the anticipation that we would be hosting an Ofsted visit, which would have an impact on both the School and the Outdoor Education provision. This would be the first year that we ha(1 a permanent Head of school and Head of Outdoor Education in place. which was to form the foundation of the leadership structure of the charity. The School had made Significant chan8es to its approach to education,. Thè timetable was focused on children learning in the outdoor environment Challenging behaviour was not through punitive approaches Exclu5ion5 were not Used SHAPE & Glasser's 5 Needs were the cornerstone to the educational approach The Outdoor Ed team were organised into two distinct areas,. outdoor actlvitles and farm, which was offered to both RP School a5 part of the curriculum offer and other schools, where children needed 5UPPOrt through an Alternative Provision programme. In February we had an Ofsted Monitoring visit which recognised that all aspects of the charity met the required Independerbt School Standards. Inspectors praised the positive engagement of our students and the meaningful outcome5 we a achieving, reinforcing our commitment to continuous improvement. To achieve SHAPE I will= SAFE P hands. fèèt and obJ•¢ts to tYVWlf dlstflJCtTrons rtspt)O51bil+ty lo¥r rny b•h•vlaur good thtylLv5 HEALTHY Look aftef my body 5tsy QLIt ¢>f argum•nts Fat s•Dslbly b acth¢ ACHIEVE Wark h•rd and my bq Ask r•l•vant qu•st5ons Say what I a¢I1x4 POSITIVE Ftvspoct staff and pupols Show Èrnpathy ro othr5 ENTERPRISE Hèlp other5 L¢sok altor thirgs Keep going the tim RELÉASING
Releasing Potential Ltd August 2025 Year End 1nfo@releasingpotential.com Contents Charity information Reflections by Chief Executive Officer Object5 and activities for the public benefit Review of the year 3to5 Looking ahead Financial results Strurture, govemance and management Statement of Trustees, responsibilitie5 7t08 Report of the independent auditors 9t012 Statement of financial activities 13 Balance sheet 14 Statement of cash flows 15 Notes to the financial statements 16to24 RELEAS1tr4G
Charity information for the year ended 31 August 2025 Trustees: P Jenkins D Carman-jones lappointed 10102120251 S Garrett M King M Lavington (appointed 10/02120251 P Stanway P Suter Chief executive officer and company secretary: MAKing Registered office: 7 King5croft Court Ridgway Havant Hampshlre P09 ILS Registered number.. 4622100 (England and Walesl Registered charlty number.. 1097440 Independent auditor: Scott Vevers Ltd Chartered Accountants and Registered Auditor5 65 East Street Bridport Dorset DT6 3LB Bankers: HSBC Bank PIC 118 Commercial Road Portsmouth Hampshire POI IEP ELEASIt4G
Reflertions by Chlef Executive Officer The development for 2024125 was going to be based on what we wanted forthe future and not what we had achieved in the past. New foundations had been built for the school and Outdoor Education to thrive, with staff in established positions. a healthy number of referrals and a clear understanding of who we are a5 a whole Charity. We were able to define our values, which are based on Gla5serfs 5 Need5, what we are able to offer children and what the stages the individual can engage with, either in the school or on our alternative provision programme. Establishing the Outdoor Education provision as an entity which compliments the work of the School has allowed us to reach more children and introduce them to a POSltive way of engaging with education. Many of the children in the Alternative Provision make their way into the School, in order to meet their social, emotional and educational needs. l am incredibly grateful to everyone who has contributed to this journey. The commitment of our staff team, Trustees, and School Goverrbors has been instrumental in ensuring our children are well-equipped to contribute meaningfvlly to society. Ing O¥t Experlentlal Education Pathways to learnlng Flexlbl• Curriculum LI and tiVln9 %k1115 Edueatlon Health Care Plan Hopes afid drtams What am I working on. Trustees. Report The Trustees who are also directors of the charity for the purposes of the Companies Art present their report together with the financial statements of the charity for the year ended 31 August 2025 which are also prepared to meet the requirements for a directorfs report and accounts for Companies Act purposes. The financial statements comply with the Charitie5 Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in RELEASIN
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Objerts and activities for the public benefit The charivs objects as stated in the memorandum of assoclation are= lal to advance the educatFon of young people including those who may have special rieeds or who are excluded from mainstream education in such ways as the Trustees may from time to time think fit- Ibl to provide training to equip groups and individuals to provide education for young people. Icl to advance in life and relieve the social need5 of young people through the provision of recreational and leisure time attivities provided in the interest of social welfare and support and artivities which develop their skills to enable thern to participate in society as mature arbd responsible individuals. The objects are achieved through a variety of different methods,. full time small group and one to one SEN core provision, outdoor mentoring, sail training, residentials. short term intervention projects and holiday actwities. The activitie5 we provide are sailing, canoeing, kayaking, orienteerin& navigation, cllmbing, abseiling, mountain biking, and various team- building activities. On the residential programmes, young people participate in outdoor activitie5 as a personal and Social development proBramme. In planning our activities for the year, the Trustees kept in mind the Charity Commission's guidance on public benefit. Review of the year During the year we separated the Outdoor Education provision {as a distinct entity) from the School, to facilitate the development of the Alternative Provision programme. Both areas use the same Values (Love, Fun, Freedom, SurvNal & Powerl, the SHAPE behavioural system and the RP Managing Challenging Behaviour Training to underpin their education methodology. We felt confident that we had everything in place to be successful at the next Ofsted monitoring visit prior to a full Inspection. In February the monitoring vislt confirmed this and we were immediately placed in the normal cycle of inspections for all Independent Special Schools. This gave us the confidence that we needed to help us fully recover from a poor inspection in 2022. Part of thi5 SLJccessful recovery was down to the appointments of Head of School and Head of Outdoor Education, who were able to align the School and Outdoor Education whilst developing the individual areas. To support the operational development, the Finance team Started to adopt new systems which we hope will provide greater financial understanding of the decisions made, which will help create a positive learning environment. RELÉASINC
Alt•rnatlv• Provlslon Our personalls•d approach: Nurturlng Sklll acquisitlon ent Educatlon Heafth Car• Plan Hope5 and dream5 What am I worklng on. urvlval -*,- Power Physlcal Developments Alongside operational improvements, we made significant physical developments: Havant slte: All classrooms had doors Wlth windows placed in them Painting throughout the building New Office space created for teaching staff and admin staff New construction workshop was created New motorbike maintenance workshop created Toilets refurbished Stairwell boxed in Chichester slte: New construction workshop was created Installed admin staff in the downstairs area to welcome students School SLT office downstairs DofE office placed upstairs First Aid room redecorated Downstairs toilets redecorated New kitchen fitted RELEASING
The Farm: Paved pathways created throughout the site Chicken area improved Small animal teaching area established New willow dome5 created These developments have expanded our capacity, enabling us to provide even greater support to our Students. Looking ahead Our next step5 focus on three key areas.. Charity: Establishin8 our values across all services and ensuring that industry- standard systerns are embedded in our practices. Outdoor Education: Expanding the Alternative Provision programme, increasing staff capacity, and further developing our vision for outdoor education. School: Continuing our journey toward full compliance with the Independent School Standards, preparing for the next Ofsted monitoring visit, and supportinB our new Head of School in shaping the institution according to our core values. With a clear vision and dedicated team. we are excited about the opportunitie5 ahead. The progress we have made this year positions us well for continued success and growth. ensuring the best possible outcomes for the children we serve. Financial results The statement of financial activities shows net incoming resources of £242,592 12024.. £84.1721- Reserve5 at 31 August 2025 were £1,218,566. The principal source of funds continued to be amounts paid by 5choo15 and local authorities for the seryices provided. All staff at Releasing Potential, including key management personnel, are paid on a scale which reflect5 a balance between outdoor industry and teaching profession levels. Pay scales are reviewed annually and any changes are ratified by Trustees. Decisions on pay increases for the Charity SLT are made directly by the Trustees. All Trustees give of their time freely and no Trustee received remuneration in the year, in their capacity as a Trustee. Reserves The Trustees have established a pollcy whereby the unrestricted funds not commltted or invested in tangible fixed assets I'the free reseNes'l held by the charity should be sufficient to enable the charity to corbtinue operatirbg in the short term in the event of a significant drop in funding. At the end of the year, SelveS comprlse: Funds invested in fixed assets £664,726 Free reserves £553,840 Total £1,218,566 RELEASING
Structure, governance and management The charity is a company limited by guarantee and was incorporated on 19 December 2)2. It is governed by its memorandum and articles of a5SOClation. The members of the company who are also the directors and Trustees are named on page l. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The appointment of all Trustees Is governed by the artlcles of association of the company nd new Trustees are fecruited from those who a interested in and connected to work with young people in the local community. New Trustees are given an induction pack containing information on all asperts of the charity's affairs and are expected to visit the office to meet staff and at least one project. Training is given as required, including sessions for the whole Trustees, team. The Trustees meet regularly throughout the year to review performance and set charitable policy and strategy. They have appointed a School Governing Body to oversee the 'attendance, attainment, progress and safeguarding, of students within the school. Day to day management is delegated to the chief executive, who line manages other staff. The Trustees have carried out an assessment of the major risks to which the charity is exposed and have put in place procedures and systems to mitigate these risks. The highest potential risks identified that would have the biggest impact were: Rlsk School could fail to move up a grade in the Ofsted judgernent at next inspection Controls Extensive work on curriculum to improve outcomes and evidence. An effertive School Governing Body appolnted. meetlng temly and receiving external training. H&S Officer appointed to oversee building improvements. Safeguardin8 pra(tices to adopt systems for staff and Trustees. Established 2-year training pmgramme of accredited awards Increased annual leave entltlement to a level comparable with colleges of FE. Rigorou5 safeguarding systems in place throughout the organisation. All staff trained with regu13r refresher courses. Deslgnated Safetuardlng Leads appolnted and deputie5 will be in place and appropriately trained. Safeguarding Trustee is in place and regular 5trurtured meetings take place. Difficulties recruiting and retaining good quality stsff limits capacity Serious safeguarding incidents could significantly impart referr?15 and potentially close our pmvlsion ELEA5bNG
Statement of Trustees. responsibllltles The Trustees are responsible for preparing the Trustees, Report and the financial ststements in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Actounting Practice Iunited Kin8dom Accounting Standards and applicable lawl. Under company law the Trustees must not approve the financial statements unle55 they are satlsfied that they give a true and fair view of the state of affairs of the charitable company and of the net movement in funds of the charitable company for that year. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently,. observe the methods and principals in the Charities SORP make judgements and estimates that are reasonable and prudent,. stste whether the policie5 adopted are in accordance with the Companies Act 2006 and with applicable accounting standards and statements of recommended practice, Subject to any material departure5 disclosed and explained in the financial statements: prepare the financial statements on the golng concern ba515 unless it is inappropriate to presume that the company will continue in busine5S. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and di5c105e with reasonable accuracy at any time the financial posltion of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are a150 responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are also responsible for ensuring that the a5set5 are properly applied in accordance with charity law. Statement as to Disclosure of Information to Auditors So far as the Trustees are aware, there is no relevant audit information of which the charitable company's auditor5 are unaware, and each Trustee has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the charitable company's auditors are aware of that inforrnation. ELEASIN POTFNfiA
Auditors The auditors, Scott Vevers Ltd, have signified their willingness to remain in office and a resolution for their re-appointrnent will be proposed at the forthcoming annual general meeting. This report has been prepared in accordance with the small companies, regime under the Companies Act 2006. On behalf of the board P Jenkins- Chair of Trustees Date.. 171ilz RELEASIIIG
Report of the independent audltors to the Trustees of Releasing Potential Limited Opinion We have audited the financial statements of Releasing Potential Limited (the 'charitable company'l for the year ended 31 August 2025 set out on pages 13 to 24. The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel, including Financial Reporting Standard 102 The Finoncial Reporting Stundard applicoble in the UK ond Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements 8ive a true and fairview of the state of the charitsble company's affairs as at 31 August 2025 and of the incoming resources and application of resources, including its income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally ACpted Accounting Practice,. and have been prepared in accordance with the Charwties Act 2011. Basis for opinion We conducted our audit in accordance with International Standard5 on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs 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 UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical re5ponsibilitie5 in accordance with these requirements. We belleve 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 5tatementS 15 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 month5 from when the financial Statements are authorised for issue. Our responsibilities and the responsibilitie5 of the trustees with respect to going concern re described in the relevant sections of this report. 4ELEA51MG
io Other information The other information comprlses the informatlon included in the trustees, annual reporL other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statement5 does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsiblllty Is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statement5 or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material incon515tencie5 or apparent material mi55tatements, we are required to determine whether thi5 gives rise to 3 material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misststement of this other infomiation, we are required to report that fact. We have nothing to report in this re8ard. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material mi55tatements in the directors, report. We have nothing to report in respect of the following matters to which the Charities Act 2011 requires us to report to you if. in our opinion: the information given in the trustees, report is inconsistent in any material respect with the financial statements,. or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting record5,' or we have not received all the information and explanations we require for our audit. Responsibilities of Trustees A5 explained more fully in the Trustees, Responsibilities Statement Set out on page5 7 and 8, the Trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the 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 a55es5ing the haritable company's ability to continue as a going concern, disclosing, as applicable, matters related to a golng concern and using the going concern basi5 of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realtstic alternative but to do so. RÉLEA51NG
Auditols 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 levant re8ulations made or havir¢8 effect thereunder. Ouf 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 auditorfs report that include5 our opinion. Reasonable a55urance is a high level of assurance but is not a 8uarantee that an audit conducted in accordance with1SAs IUKI 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 deci5ion5 of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Our approach to identifyin8 and assessin8 the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations. was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulation5; we identified the laws and regulations applicable to the charity through discussions with Trustees and other management, and from our commercial knowledge and experience of the charity sector; we asse55ed the extent of compliance with the laws and regulations identified above through making enquiries of management- and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the charity's financial statement5 to material misstatement, including obtaining an understanding of how fraud might occur. by.. making enquiries of management as to where they considered ihere was 5U5ceptibility to fraud. their knowledge of actual, suspected and alleged fraud; and considering the internal contToIs in place to mitigate risks of fraud and non-compllance with laws and regulations. To address the risk of fraud through management bias and overrlde of controls. we: performed analytical procedures to identify any unusual or unexpected relationships; tested journal entries to identify unusual transactions,. a55es5ed whether judgements and assumptions made In determining the accounting estimates were indicative of potential bias,. and investlEated the rationale behind significant or unusual transattions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: agreeing financial statement disclosures to underlying Supporting documentation readin8 the minutes of meetings of those charged with governance- enquiring of management as to actual and potentlal litl8ation and claims. RÉL£ASINC
Because of the inherent Simitations 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 gUlatIOn. This risk increases the more that compliance with a law or regulation 15 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 statement5 IS located on the Financial Reporting Council'5 website at.. www.frc.org.uVauditorsresponsibilities. This description forms part of our auditorfs report. 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 IAccounts and Reports) Regulations 2CXJ8. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable companvs Trustee5 a5 a body, for our audit work, for thi5 report, or for the opinion5 we have formed. Scott Vevers Ltd Chartered Accountants and Registered Auditors 65 East street Bridport Dorset. DT6 3LB Date= Iilo£lL£ Scott Vevers Ltd is eligible to act as auditor in terms of section 1212 of the Companies Ad 2CK)6. ELEASIMG
RELEASING POTENTIAL LIMITED 13 STATEMENT OF FINANCIAL ACTIVITIES {INCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST2025 Notes Total Funds 2025 Totsl Funds 2024 Unrestrlcted Restrlrted funds funds Incoming resources Incoming resourcesfrom generatedfund5.' Donations and similar sources 1,416 1.416 5,883 Cht7ritoble actlvffties.. Grants received for activities Fees charged for activities 8,950 2.295,048 1,776 10,726 2,295,048 22,000 1.862,375 Investment income 15,811 15,811 8,977 Total incoming resources 2,321.225 1,776 2,323,1 1,899,235 Resources expended Costs of generatin8 funds Charitable activities.- Educational activities 8,489 8,489 318 2,069,329 2,591 2,071,920 1,814,745 Total resources expended 2,077,818 2,591 2,080,409 1,815,063 Net movement in funds 243,407 18151 242,592 84,172 Reconciliation of funds Total funds at I September 2024 975,159 815 975,974 891,802 Total funds at 31 August 2025 1,218,566 1,218,566 975,974 Chanzes In Resources Applled for Flxed Assets for Charlty Use Net movement In funds Net resourtes invested in fixed assets 242,592 1103,8681 84.172 154,7311 29,441 Funded by reserves and other funding sources 138,724 All amounts derive from continuing activities. All gains and losses recognised in the year are included in the statement of financial activities. The notes on pages 16 to 24 form part of these financial Statements RELEASING POTEtr4TtAL
REIEASING POTENTIAL LIMITED L4 BALANCE SHEET AS AT 31 AUGUST 2025 Notes 2025 2024 Fixed A55ets Tangible assets li 664.726 621,916 Current assets Stocks Debtors Cash at bank and in hand 12 13 534 68,159 610.499 794 114,152 306,537 679,192 421,483 Creditors: Amounts fallln8 due within one year 14 1125,3521 167,4251 Net current a55etS 553,840 354,058 Net Asset5 1,218,566 975,974 The funds of the charity: Restricted income funds 15 815 Unrestricted income funds.. 15 1,218,566 975,159 Total charity funds 1,218,566 975,974 These financial statements have been prepared in accordance with the provlsions appllcable to companies subject to the small companies regime under the Companies Act 2006. The directors acknowledge their responsibilitles for complying with the requirement5 of the Companies Act 2006 In respect of accounting records and preparation of accounts. Whilst the company is exernpt from audit under Section 477 of the Companies Act 2006 relating to small companies and the member5 have not required an audit under section 476 of the Act, the company is subject to audit under the Charities Act 2011. The financial statements were approved by the board on ..... P Jenkins- Chair of Trustees The notes on pages 16 to 24 form part of these financial statements RELEASIIIG POTENTIAL
RELEASING POTENTIAL LIMITED 15 STATEMENT OF CASH FLOWS AS AT 31 AUGUST 2025 Notes 2025 2024 Cash flow from operating artivities 18 383,646 97,822 Cash fl¢>w from investlng actlvltles Payments to acquire tangible fixed assets Receipt5 from sales of tangible fixed assets Investment income received 1103,8681 8,977 15.811 154,7311 14,812 8,977 Net cash flow from Investln8 artlvltles 179,0801 130,9421 Cash flow from financing activities Repayment of long term loans Interest pald 1180,8611 11.8611 16041 Net cash flow from financing artlvities 16041 1182.722) Net Increase I Ide¢rea5e) in cash and cash equivalents 303,962 1115,8421 Cash and cash equlvalents at I September 2024 306,537 422,379 Cash and cash equlvalents at 31 August 2025 610,499 306,537 The notes on pages 16 to 24 form part of these financial statement5 RELEASIPIG POTENTIAL
IIELEASING POTENTIAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 16 l General informatlon Releasing Potential Limited is a charitable company, limited by guarantee. incorporated in England and Wales under the Companies Att 2006 and Charities Act 2011. The address of the registered office is provided in charity information on page l. Details of the CharItS operations are provided in the Annual Report of the Trustees. 2 Accountlnz pollcles The prirbcipal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows- 2.1 Basis of preparation The Charity constitutes a public benefit entity as defined by FRS 102. The financlal ststements have been prepared on a going concern basis, under the historital cost convention in accordance with Accounting and Reporting by Charities.. Statement of Recommended Prartice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharities SORP 2019 IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, the Companies Act 2006 and the Charities Act 2011. 2.2 Accounting convention The financial statements have been prepared on a going concern ba515 as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of Income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern. 2.3 Income All income is included in the statement of Financial Activities when the Charity is legally entitled to the funds. anv performance conditions attached to the income have been met. it is probably that the income will be received and the amount can be measured reliably. Donation5 are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the Charity is entitled to the funds, the income is deferred and not recognised until those conditions are fully met. Gift aid is recognised in the period trading subsidiaries have made an irrevocable commitment to pay their taxable profits. When donors specify that donations and grants, including capital grants, are for particular restricted purposes, which do not amosjnt to pre-conditions reBarding entitlement, this income is included in incoming resources of restricted funds when receivable. 2.4 Expenditure Liabilities are recognised on the accrua15 basi5. Expenditure is recognised in the period in which it is incurred and includes any attributable VAT which cannot be recovered. Costs which are identified as relatlng to restrirted activities are allocated directly to those activities. Costs which relate to the general running of the Charity are allocated against unrestricted funds, and within the statement of financial activities these expènses are shown as costs of Benerating funds and costs in furtherance of charitable objects. An apportionment of certain costs has been carried out on the basis of time spent by staff on the various actlvities. 2.5 Tangible fixed assets and depreciation Tangible fixed assets costing more than £500 are capitalised at cost. Depreciation is provided at rates calculated to write off the cost les5 estimated residual value of each asset over its expected useful life, as follows.. Freehold buildings Boats Plant and machinery Motor vehicles Fixtures and office equipment equal annual instalments over 50 years equal annual instalments over 5 to 10 years 25% on reducing balance 25% on reducing balance 25% on reducing balance RELEASING VOTENTIAL
RELEASING POTENTIAL UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.6 Stocks Stocks are stated at the lower of c05t and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, cost5 of conversion and other cost5 incurred in bringing stock to it5 present lotation and condition. Cost is calculated using the first-in, first-out fomula. Provision is made for damaged, obsolete and slow-movinE Stock where appropriate. 17 2.7 Restricted and designated funds Restricted funds are funds subject to specific conditions imposed by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts. The net book value of fixed assets at each year end not subject to mortgage or other loans is shown as a separate designated fund. 2.8 Leasing commitments Rentals paid under operating leases are charged to the Statement of Financial Activities as incurred. 2.9 Pension contributions The Charity contributes to individual staff personal pension plans in accordance with their contract5 of employment. Contributions payable for the year are included in the Statement of Financial Actlvitie5. 2.10 Taxation The Charity is an exempt Charity within the meaning of schedule 3 of the Charities Art 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the detinition of a charitable company for UK corporation tax purposes. 2.11 Financial instruments CIGTSSificotion Financial assets and fSnanclal Ilablllties are recognSsed when the Charity becomes a party to the contractual provisions of the Instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of its Ilèbilities. Recognition and meosurement All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial asset5 classified a5 at fair value through profit or10s5, which are initially measured at fair value Iwhich 15 normally the transaction price excluding transaction costs), unless the arrangement tonstitutes a financing transaction5. If an arrangement constitutes a financing transaction, the financial asset or financial liability Is measured at the present valve of the future payments discounted at a market rate of interest for similar debt instruments. Financial assets and liabilitie5 are only offset in the statement of financial position when. and only when there exists a legally enforceable right to set off the recognised amounts and the Charity intends either to settle on net basis, or to realise the asset and settle the liability simultaneouslv. Financial a55ets are derecognised when and only when al the contractual rights to the cash flows from the financial asset expire or are settled, bl the Charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or cl the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another partv. Financlal liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Pf UEASIPIG POTENTIAL
RELEASING POTENTIAL LIMITED NOTE5 TO THÉ FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 18 3 Donations and similar income Unrestricted funds 2025 2024 Restricted funds 2025 2024 Total fund5 2025 2024 Donations 1,416 5,883 1,416 5,883 1,416 5,883 1,416 5,883 4 Grants received for •rtivities Unrestricted funds 2025 2024 Restricted funds 2025 2024 Total funds 2025 2024 Duke of Edinburgh'5 Award Foyle Foundation Oakmoor Charitable Trust West Sussex County Council 1,776 1,776 2,000 20,000 2,000 20,000 8,950 8,950 8,950 1,776 22,000 10,726 22,000 5 Investment incorne Unrestricted funds 2025 2024 Restricted funds 2025 2024 Total funds 2025 2024 Bank interest Rents received 14,391 1,420 7,957 1,020 14,391 1,420 7,957 1,020 15,811 8,977 15,811 8,977 6 Costs ol ralslng funds Unrestricted funds 2025 2024 Restricted fund5 Total funds 2025 2024 2025 2024 Web slte and other promotional costs 8,489 318 8,489 318 8,489 318 8,489 318 RELEASIP4G POTENTIAL
RELEASING POTENTIAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOA THE YEAR ENDED 31 AUGUST 2025 19 7 Expenditure on charftsble activitie5 Unrestricted funds 2025 2024 Restricted funds 2025 2024 Total funds 2025 2024 Staff costs Direct costs 1,575,264 1,362,208 239,282 186.528 238,088 229,837 16,695 14,487 2,069,329 1,793,060 1,575,264 241,873 238,088 16.695 2,071,920 1,362,208 208,213 229,837 14,487 1,814,745 2,591 21.685 Support costs Governance costs 2.591 21,685 Unrestricted fund5 2025 2024 Restricted funds 2025 2024 Total funds 2025 2024 Staff costs Employee costs Recruitment Training Clothing Other staff costs Subcontractors and external provision 1,508,452 1,308,073 2.166 3.669 11,511 7.312 4,005 2.207 489 650 1.508,452 2,166 11.511 4,005 489 1,308,073 3,669 7,312 2,207 650 48,641 40,297 48,641 40,297 1,575,264 1,362.208 1,575.264 1,362,208 Direct costs Activity costs and equipment Boat costs Insurance Motor and travel costs Depreciation IProfitl/loss on sale of assets 93.622 56,011 2,591 21,685 96.213 77,696 5.530 24,764 63,28S 45,630 10,603 21,725 54,112 43,580 5.530 24,764 63,285 45,630 10,603 21,725 54,112 43.580 6,451 497 6,451 497 239,282 186,528 2,591 21,685 241,873 208,213 Su ort Costs Property Costs Office costs Finance charges and interest 145,781 91,703 154.249 73.727 145,781 91,703 154,249 73,727 604 1.861 604 1,861 238,088 229,837 238,088 229,837 Governance costs Auditor's rernuneration Professional fees Management costs Other governance costs 6.625 4.194 175 5,701 5.818 2,318 6,625 4,194 175 5,818 2,318 6,351 14,487 5,701 16.695 6,351 16,695 14,487 PEIEASINC POTENTIAI
RELEASING POTENTIAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 20 8 Net income I (expenditure) for the year Net income / lexpenditurel is stated after charging / Icreditingl- 2025 2024 Depreciation of tangible fixed assets IProfitl / loss on disposal of fixed asset investment IProfitl / loss on disposal of tangible fixed asset5 Operating lease payments - propertv other audit services other services 45,630 43,580 io 497 75,741 7,922 5,600 218 6,451 73.340 7,335 5,785 840 Auditor'5 remuneration.. 9 Employee costs No remuneration or expenses were paid to Trustees in the year12024.. £nlll. The costs of the remaining staff employed by the Charity were.. 2025 2024 Wages and salaries Social securlty costs Pension costs 1,304,835 121,330 82,287 1,137,434 97,907 72.732 1,508,452 1,308,073 During the year, l employee earned more than £60,000 12024: 11. The average full time equivalent number of staff employed during the year were a5 follows.. 2025 2024 No 32.77 6.97 1.12 40.86 Operational Support Governance 30.33 6.78 1.05 38.16 The average numberof staff employed bythe Charity IHeadcountl 43.92 42.67 10 Defined contrlbutlon penslon scheme The Charity operates a defined contribution pension scheme. The pension c05t charge for the period represents contributions payable by the Charity to the scheme and amounted to £82,28712024.' £72,732). There was £13,46612024.. £11,804) outstanding contributions at the end of the financial year. AELÉASING POTENTIAL
RELEASING POTENTIAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 21 11 Tangible fixed a55ets Fixtures & office equipment Freehold Property Plant & Machinery Motor vehicles Boats Total Cost At I September 2024 Additions Disposals At 31 August 2025 592,551 35,326 20,000 17.6001 47,726 137,792 10,939 114,0001 134,731 105,437 51,544 122,3921 134,589 58,373 21,385 121,5541 58,204 929,479 103,868 165,5461 967,801 592,551 Depreciation At I September 2024 Charge for the year Eliminated on disposa15 At 31 August 2025 72,966 10,491 8.385 6,378 11,8401 12,923 96,738 10,408 18,3831 98,763 86.164 11,260 120,4161 77,008 43.310 7,093 119,4791 30,924 307,563 45,630 150,1181 303,075 83,457 Net book value At 31 August 2025 509,094 34,803 35.968 57,581 27,280 664,726 At 31 August 2024 519,585 26,941 41,054 19,273 15,063 621,916 12 Stocks 2025 2024 Goods for resale 534 794 13 Debtors: amounts falling due within one year 2025 2024 Operational debtors Other debtors and prepayments 14,393 53,766 68,159 8,668 105,484 114,152 14 Creditors: amounts falllng due wlthin one year 2025 2024 Operational creditors Social security and other taxe5 Other creditors and accruals 31,380 29.227 64,745 125,352 23,939 21.475 22,011 67,425 RELEAS1tr4G POTENTIAL
REIEASING POTENTIAL LIMITED NOTESTOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2025 22 15 Funds 8alance at Incoming I September resource5 2024 Re50urces expended Balance at 31 Au8USt 2025 Transfers 2025 Reslricted income fvnds Equipment Grant Activities Grant 815 1,438 338 1,776 12,2531 13381 12,5911 815 Unrestrlcted Income funds Designated fixed asset reserve General fund 621,916 353,243 975,159 42,810 142,8101 664,726 553,840 1,218,566 2,321,225 2,321,225 12,077,818) 12,077,818) Total fund5 975.974 2.323,001 12,080,409) 1.218,566 Balance at Incoming I September resources 2023 Resources expended Balance at 31 August 2024 Transfers 2024 Restrlcted Income funds Equipment Grant Sailing Programme 500 2,000 20,000 22,000 11,6851 120,0001 121,6851 815 500 815 Unrestricted income funds Designated fixed asset reserve General fund 487,666 403,636 891,302 134,250 1,877,235 11,793,378) 1134,2501 1.877,235 11,793,378) 621,916 353,243 975,159 Total funds 891.802 1,899,235 11,815,063) 975,974 lal Grants were received from private trusts to fund specific programmes in outdoor leadership and sailing. Ibl The balance on the designated fixed asset reserve represents the net book value of fixed assets financed by Charity reserves. RELEASIWG POTÉNTIAL
RELEASING POTENTIAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 16 Analysls of net assets between fvnd5- 23 Unrestricted Designated funds funds Restricted funds Total fund5 2025 Tangible fixed assets Net current assets 664,726 664.726 553,840 1,218,566 553,840 553,840 664,726 Unrestricted Designated funds funds Restricted funds Total funds 2024 Tangible fixed assets Net current assets 621,916 621,916 354,058 975,974 353,243 353,243 815 815 621,916 17 Operating lease commltments At 31 August 2025 the Charity ha5 future minimum lease commitments as follows.. Propertv Other Total Not later than l year Later than l year and not later than 5 years Later than 5 year5 51,864 139,211 13,125 204,200 6,602 10.728 58,466 149,939 13,125 221,530 17,330 18 Reconclliation of net income to net cash flow from operating artivities 2025 2024 Net income for the year 242,592 84,172 Investment income receivable Interest payable Depreciation and impairment of tanEible fixed asset5 (Profit) / loss on disposal of tangible fixed assets Loss on disposal of *ixed asset investment VAT claimed on pre-registration fixed asset Costs Ilncreasel / decrease in stock Ilncrea5el / decrease in debtors Increase / Idecreasel in creéitors Net cash flow from operating activities 115,8111 604 45,630 6.451 18,9771 1,861 43.580 497 io 42,453 6,730 167,8761 14,628 260 45.993 57,927 383,646 97,822 ELEASING POTENTIAL
RELEASING POTENTIAL LIMITED NOTESTO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 24 19 Flnancial Instruments Categorisation of financial instrument5 2025 2024 Financial assets that are debt instrument measured at amortised c95ts 631,748 322,909 Financial liabilities measured at amortised costs 125,352 67,425 Ilerns of intome, expense• gains orlosses The total interest income for financial assets not measured at fair value through profit or loss is £14,391 12024: £7,957). 20 Related party transactions No Trustee has received any remuneration, expenses or benefits from the Charity during the year, in their capacity as a Trustee. Mr M King (Trusteel was employed during the year as the Chief Executive Officer and his salary is included in note 9. Mr M King abstained from any decisions related to his employment. Mr P Stanway's (Trusteel son Mr D Stanway was employed during the year and hi5 salary is included in note 9. Mr P Stanway abstained from any decisions related to his employment. RELEASING POTENTIAL