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← Rock UK Adventure Centres Limited

2024-08-31-accounts

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Company Registration Number 04718891 Charity Registration Number 1107724 OSCR Number SCO40118

Rock UK Adventure Centres Limited Company Limited by Guarantee Audited Financial statements

31 August 2024

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

CONTENTS Pages
Trustees’ Report 3-15
Independent Auditors report 16-20
Statements of Financial Activities 21
Balance Sheet 22
Statement of Cash Flows 23-24
Notes to the Accounts 25-37

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

The Trustees present their report and audited accounts for the year ended 31 August 2024.

Trustees who served during the Financial Year 2023/24 and to the date of this report

M Wooding Jones (Chair)

A D Belcher

R P Charlesworth

H A Ellis

N D Foot

D A Sykes (resigned 18 June 2024)

S Hodge

K Hagon (appointed 10 February 2025)

Company Secretary & Chief Executive Officer

M Maclean

Registered Office

Frontier Centre, Addington Road, Irthlingborough, Wellingborough, Northamptonshire, NN9 5UH

Bankers

Reliance Bank Limited, Faith House, 23-24 Lovat Lane, LONDON, EC3R 8EB Lloyds Bank plc, 104 Terminus Road, Eastbourne, East Sussex, BN21 3AH

Independent Auditor

Griffin Stone Moscrop & Co 21-27 Lamb’s Conduit Street, Holborn, London, WC1N 3GS

Solicitors

Anthony Collins Solicitors, 134 Edmund Street, Birmingham, B3 2ES Solicitors (HR Advice)

Keelys LLP, 28 Dam Street, Lichfield, Staffordshire, WS13 6AA

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Trustees Annual report

Rock UK is a Christian Charity that is passionate about developing young people, bringing adventure into learning in the outdoors and to transform lives. We seek to serve all people regardless of their gender, marital status, race, religion, ethnic origin, age, sexual orientation or physical and mental capability.

The annual report, which includes the financial statements, complies with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting of Charities: Statements 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 2015). The company is registered with the Charity Commission and with the Office of the Scottish Charity Regulator.

Objectives and Activities

The main objective of Rock UK Adventure Centres Limited as stated in the Memorandum and Articles of Association is to advance the Christian faith and to carry on such other charitable activities for the advancement of the Christian faith as the company may determine, and to provide educational services and facilities (including without prejudice to the generality of the foregoing the provision of instructed adventure (and other) activities).

Public Benefit Statement

The Trustees have given careful consideration to the availability of its facilities to those on low income and the Charity continues to actively promote the bursary fund which was introduced in 2013.

All of the Charity’s activities are intended to contribute towards the development of young people by bringing adventure into learning in the outdoors to transform lives.

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Welcome from Malcolm Maclean – CEO, Rock UK Adventure Centres Ltd

In presenting the Rock UK Annual Financial Report for the year ended 2024, I am excited to share the numbers and stories behind our work as we look to transform young lives.

During this last year, most notably, we have had residential visits from 376 schools making up 13,453 children 171 church groups making up 7,392 people

I am extremely thankful to our staff, including admin, facilities, hospitality and instructors, without whom it would be impossible to create the right environment for groups like these to have that time of adventure. The generosity and belief in our mission from our team, supporters and donors make everything we do possible, so, I, along with the Board of Trustees, extend sincere thanks.

Rock UK has been offering young people the opportunity to take part in outdoor activities for over 100 years, driven by our Christian ethos, a love for the outdoors and service to young people. Our mission is simple yet powerful: to provide life affirming adventures that help young people grow, learn, and discover themselves in an atmosphere of faith, learning, and adventure.

For the young people who visit our four centres the experience provides a huge impact on their wellbeing and builds confidence and resilience. Our values - faith, service, integrity, excellence, adventure, relationships, and safety - are the heartbeat of who we are as an organisation, guiding everything we do.

We know that young people today face many challenges, so coming to Rock UK can be a respite as they leave those pressures behind. For some young people simply staying away from home for the first time is a huge achievement. Children develop independence as they take ownership of sorting out their kit, making their bed, clearing away after meals and so on.

The children also build deeper friendships as they mix with classmates in a new context. Trying new activities at Rock UK, failing and trying again can inspire them to try new things when they return to school whether that is solving a maths problem in the classroom or joining the netball club after school. In feedback from group leaders 97% believe that the young people leave Rock UK with greater self-confidence.

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

An example of some of the new initiatives we have undertaken through the year includes newly acquired accessible equipment to accommodate guests with a variety of additional physical or learning needs at our Summit Centre where they host a monthly adaptive climbing club.

One of the young people who has benefitted from the changes at our Whithaugh Park centre in Newcastleton is Charlie, who has cerebral palsy. He was able to use the sit in harness so he could join in the activities with his classmates. His mum, Melanie emailed us saying:

“I wanted to take this opportunity to say a huge thank you to all the staff and instructors at Rock UK who made this a wonderful experience possible for Charlie. The effort you went to, in order to make it inclusive, was amazing. I really appreciated the purchase of the harness to take part in the zip line. This was definitely his favourite. Charlie was very nervous before the camp, but your staff reassured him, made him feel safe and very much included. What a great experience.”

It is testimonies like that which compel us to continue developing and expanding our offering and in 2025 Rock UK will strive to find more ways to be inclusive across our sites and accommodate young people with additional learning or physical needs so that they can experience the benefits of adventurous activities.

Thank you for being part of the Rock UK family and for helping us empower the next generation.

Warm regards,

Malcolm Maclean Rock UK CEO

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Achievements and performance

At the core of our organisation lies a simple yet powerful mission: to provide lifeaffirming adventures that foster the growth, learning, and self-discovery of young people within an environment characterised by faith, learning and adventure.

Through engaging with residential outdoor programmes, we witness the transformation of young people as they grow in confidence, learn new skills, forge friendships, and explore both faith and their own capabilities.

In the pages ahead we provide an overview of our achievements, details on each of our centres, and our financial performance while spotlighting essential elements of our work, such as our Bursary Fund and Instructor Training Programme (ITP).

Activity Centres - Transforming Young Lives

At each of our four adventure centres we provide a safe environment where young people can grow in confidence, face their fears, build life-long friendships and learn about their own spiritual, mental and physical capabilities. We have been delighted to see all of our centres busy with schools and youth groups. It’s great to hear the shouts of joy and words of encouragement as we witness young people having adventures at each of our centres. We are encouraged by the strong demand from school and youth groups eager to embark on a Rock UK adventure, and the positive feedback we receive, reinforcing our commitment to facilitating transformative experiences. For example one teacher commented

“I have noticed the children are more confident in their own abilities and this has had a positive impact upon their self-esteem. The children have also developed friendships with more of their peers as a result of the team building activities.”

Our Impact (from a sample group of 126 teachers whose children received bursary funding all strongly agreed that) :

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

The Rock UK Bursary Fund - 'No Child Misses Out'

Our bursary fund ensures that no child misses out on having an adventure, regardless of their circumstances.

We are aware that many families are feeling the impact of the increase in cost of living, so we were glad to be able to award 1069 bursary places to ensure that no child misses out. This was a 24% increase from the previous year.

We have been delighted by the donations we have received this year which has allowed us to support more children and young people through the Bursary Fund than ever before. We have been able to reach out to other charities and youth groups working with children with particular needs to enable trips to take place that wouldn’t have been possible without this additional funding. For example, we hosted Oasis Women’s Refuge at Carroty Wood allowing families who have experienced domestic abuse to have a weekend away in a safe and supportive environment. Likewise, at Whithaugh Park we were able to support Kirby Moor School to bring children with additional needs to visit. We are so grateful to every individual and trust for making this possible.

We extend our gratitude to the numerous individuals, trusts, and foundations whose support has been instrumental in ensuring that no child is left behind.

However, as we go into 2025, we expect the demand to rise as we aim to partner with local youth providers to deliver programmes in the following categories: young carers, care leavers, young people affected by domestic abuse, young people affected by poor mental health and young people affected by poverty. Residential visits to Rock UK centres will offer these young people complete respite from their home lives and the chance to be children, whilst boosting their ability to cope when they return.

Therefore, we are actively exploring avenues to engage with additional donors, partners, and community stakeholders to further bolster our efforts in supporting those who need it most.

Instructor Training Raising Young Leaders:

Adventure is our vehicle to bring change. Our activity instructors are crucial in helping to transform young lives through the interactions and conversations they have with young people. Whether on the top of an abseil tower where activity instructors take time to encourage a child in learning how to trust, whilst paddling a canoe together

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

on a lake and connecting with nature, or as they sit around a campfire reflecting on the day’s memories, these pivotal moments help to transform lives.

As part of our mission each year we recruit 22 voluntary workers to take part in our Instructor Training Programme. This action-packed full-time course is for one or two years involving discipleship, learning and adventure. Throughout the programme the young people learn whilst working, gaining essential experience in youth work and leading groups whilst living in a Christian community. This programme supports staff in achieving national governing body qualifications, enabling their professional growth in the outdoors, whether through advancement within our organisation or by pursuing external opportunities.

The Instructor Training Programme serves as a cornerstone of our organisation, embodying our mission to empower young individuals to grow, learn, and discover more about themselves in an environment of faith, learning and adventure.

They become equipped to run and instruct activity sessions and confidently communicate our Christian ethos, mission and vision to guests, whilst, at all times, respecting the views and beliefs of others.

“My favourite activity to instruct is abseiling, because you get to see the kids conquer their fears. It’s most rewarding. I had someone who was absolutely petrified and wasn’t really able to get their harness on. By the end of the session, she was abseiling down the 9m high tower.” – Courtney, Instructor

Plans for the future - Growing Forward

In our latest impact report, we have identified the following key priorities:

Increasing Bursary Support - growing the financial aid we offer to ensure more young people can benefit from our programmes

Expanding Capacity

Improve utilisation, develop our infrastructure and people to allow us to work with more young people. This will include specific projects to enhance our centres and expand our capacities, including:

Whithaugh Renewal

Developing a business case for a major renewal project aimed at aligning our facilities with the redevelopment of sleeping and day lodges.

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Summit Climbing Wall

Recognising the age of the climbing wall, the requirements of climbing as a sport, and the needs of our service users, we are proactively planning for a comprehensive replacement.

Rowan Lodge

To create 40 additional beds at Frontier Centre to meet the needs of visiting school groups. The current 20 bed size lodge does not work well with most schools.

Impact & Improving our Sustainability - ensuring our operations are functioning well in order to deliver financial sustainability and reduce our impact on the environment including addition of a ground solar array at Whithaugh Park.

Our aim is to bolster outdoor learning opportunities, fostering greater selfconfidence, resilience, and self-awareness among young people.

As visitors arrive at our sites their eyes may be drawn to our climbing towers or aerial adventure courses, but our work is about more than canoes and climbing walls. Adventure is our way of connecting with young people to draw them out of their comfort zone allowing them to try something new or push themselves further than they thought possible.

Through these initiatives, we are laying the groundwork for sustainable growth, ensuring that our organisation continues to make a positive impact on the lives of young people and the communities we serve.

Financial Review 2023/24

Income

Income for 2023/24 amounted to £4.5m (2023: £4.2m) an increase of £0.3m on last year.

Expenditure

Charitable expenditure 2023/24 amounted to £5.1m (2023: £4.6m) an increase of £0.4m from the prior year.

Reserves

As at 31 August 2024, Designated reserves totalled £3.1m (2023: £3.4m). The Designated Fund was created in 2015 to reflect the significant investment at the

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Charity's Summit Centre in Wales between 2015 and 2019. As at 31 August 2024 Restricted funds were £44k (2023: £7k) with the Unrestricted general fund at £2.1m (2023: £2.5m).

Reserves Policy

The Board has reviewed the Charity's reserves policy, which defines free reserves as unrestricted funds not tied up in tangible fixed assets, to provide operational flexibility.

Our policy is to reinvest any surpluses, after covering costs and providing for working capital, into the ongoing development of our centres and the enhancement of facilities for our users. The Trustees have determined that an ideal level of free reserves would equate to two months of our general unrestricted operating expenditure. As at 31 August 2024, this target stood at £785k (2023: £728k). The trustees do however consider that it would be prudent to have reserves in excess of this.

The Charity held net current liabilities of £1.3m (2023: £1.1m), and the total level of free reserves was a deficit of (£2.8m) in 2024, compared to a deficit of (£2.6m) in 2023. It should however be noted that the market value of Freehold Land is greater than the values in the Financial Statements.

The executive team is actively monitoring and managing the charity's cash flow and continues to maintain agreements with our bankers to address seasonal fluctuations. Additionally, the charity has a long-term loan facility with Reliance Bank, with an outstanding balance of £1.4m as of 31 August 2024 (2023: £1.5m).

Recognising the current shortfall, the trustees are determined to strive to align with the policy and are actively taking steps through prioritising cost reductions and the generation of surpluses in the coming years to achieve the target level of free reserves.

Structure, Governance and Management

The Charity is a company limited by guarantee, governed by a Memorandum and Articles of Association.

The Company’s objects and Articles of Association as submitted to the Charity Commission and Companies House follow that:

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Statement of Trustees’ Responsibilities

The Trustees 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 year, which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure of the Charity for that year. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose, with reasonable accuracy at any time, the financial position of the Charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Charitable Company’s website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions.

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Trustee induction and training

The Charity undertakes a skills audit of the Trustees on an occasional basis and particularly around the need for the appointment of new Trustees. Once new Trustees have been identified, the Chief Executive and the Chair of Trustees meet with the candidate to discuss key policies and Charity background. This process also invites them to attend Board meetings as an observer and to meet other Trustees. Once appointed, the Trustees sign a declaration form and are given an induction. New Trustees are briefed on their legal obligations under Charity and company law, given a copy of ‘The Art of Good Governance’ book, which is aligned to the Charity Governance Code. This supports the Charity and Trustees to develop and maintain high standards of governance.

Organisation

The governing body of the Charity is the Board of Trustees, which meets quarterly throughout the year. A Chief Executive, who is precluded from being a member of the Board under the company’s governing documents, is appointed by the Trustees to manage all activities of the Charity and oversee staff teams who manage the day to day operations of the centres. The Board decides on development, strategy, policy and finance, with meetings attended by the Chief Executive who is responsible for implementation. The Finance Director also attends the Board meetings to report directly to the Board on all financial matters. The Board also has various specialist subcommittees which meet regularly throughout the year.

The Chief Executive and Senior Managers provide written reports to the Trustees prior to Board meetings to inform their decisions.

The Senior Leadership Team is made up of the Centre Directors and Other Directors with specific areas of responsibilities.

The Senior Team during the year was as follows; Chief Executive: Malcolm Maclean Finance Director: Kim Pearson Centre Director (Summit Centre): Rachel Cilliers Centre Director (Frontier Centre): Richard Sewell Centre Director (Whithaugh Park): Lee Musson (up to end of February 2024) Centre Director (Whithaugh Park): Ben Fortescue (March 24 onwards) Centre Director (Carroty Wood): Linden Sanders Head of Sales, Marketing & Fundraising: James Hodges Technical Director/Course Director: Lee Musson (March 2024 onwards)

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Risk and Internal Control

The Trustees have overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise.

Trustees are also responsible for safeguarding the assets of the Charity and taking reasonable steps for the prevention and detection of fraud and other irregularities providing reassurance that:

  1. The Charity complies with relevant laws and regulations.

  2. Its assets are safeguarded against unauthorised use or disposition.

  3. Proper records are maintained, and financial information used within the Charity or for publication is reliable.

The Trustees have carried out a review of the Charity's activities, identifying the opportunities available to the Charity and the risks to which it is exposed. There is a risk management plan which aims to protect the Charity, its guests and staff, with procedures in place to minimise impact should any of these risks crystallise. The Directors carefully review risk reports at Board meetings, in particular the operational risks and associated reporting that relate to the safety and wellbeing of guests and staff.

Procedures are in place for staff training, supervision and assessment, with independent external verification and policies in place for Safeguarding and Health & Safety, which are regularly reviewed. Commercial Insurance cover is maintained annually to cover public and employers’ liabilities and insuring buildings and facilities for replacement value, and the organisation against loss of income. We comply with IOF Good Practice and GDPR requirements.

The principal risks facing the Charity are related to staff recruitment within the activity teams, with the industry as a whole seeing a lack of senior qualified activity staff. Rock UK’s strategy has been to create an Activity Career path to encourage progression through the organisation. Like many Charities and businesses, the increasing costs faced in the UK, are a continued burden for the organisation, notably increased salary and utility costs. Rock UK’s strategy is to increase bed space and consider new markets, refurbish and renew the facilities at Whithaugh Park and to focus on raising support as a Charity to enhance the centres’ development needs.

Provision of information to the auditors

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

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Auditors

Griffin Stone Moscrop & Co were the auditors of the charitable company throughout the year. A resolution to reappoint Griffin Stone Moscrop & Co, Chartered Accountants and Statutory Auditors, as auditors will be proposed at the Annual General Meeting.

This Trustees’ Report and Accounts contained therein were approved by the directors and signed on their behalf, by:

M Wooding Jones Chair

Date: 21 May 2025

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Independent Auditors Report to the Trustees of Rock UK Adventures Centre Limited For the Year Ended 31 August 2024

Opinion

We have audited the financial statements of Rock UK Adventure Centres Limited (the ‘charitable company’) for the year ended 31 August 2024 which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement and notes to the financial statements, including 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 auditor 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 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. Specifically we draw attention to note 1(b) in the financial statements, which describes the financing facilities used by the charity both during the year and up to the date of approval of these financial statements, the ongoing supportive relationship with the charity’s bankers and confirms that the overdraft facility of £500,000 has been renewed in April 2025 and is next scheduled for review in April 2026, thus underpinning the trustees’ confidence in their assessment that the charity remains a going concern.

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Independent Auditors Report to the Trustees of Rock UK Adventures Centre Limited For the Year Ended 31 August 2024

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.

Other information

The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees' report.

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Independent Auditors Report to the Trustees of Rock UK Adventures Centre Limited For the Year Ended 31 August 2024

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 12, 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.

Auditor responsibilities for the audit of the financial statements

We have been appointed as auditors under section 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific

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Independent Auditors Report to the Trustees of Rock UK Adventures Centre Limited For the Year Ended 31 August 2024

procedures designed and implemented to detect irregularities, including fraud, are 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.

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

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Independent Auditors Report to the Trustees of Rock UK Adventures Centre Limited For the Year Ended 31 August 2024

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. 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 auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

23/5/2025 Richard Hill (Senior Statutory Auditor) Date: For and on behalf of

GRIFFIN STONE MOSCROP & CO.

Chartered Accountants and Statutory Auditors

21 - 27 Lamb's Conduit Street, London, WC1N 3GS

Griffin Stone Moscrop & Co is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Statement of Financial Activities Including Income and Expenditure Account For The Year Ended 31 August 2024

Unrestricted Unrestricted Restricted Total Total
Notes Funds Funds Funds 2024 2023
General Designated
£ £ £ £ £
Income
Donations and legacies 130,475 - 161,793 292,268 188,565
Income from charitable
activities		 3,160,830 - - 3,160,830 2,968,239
Other trading activities 1,010,568 - - 1,010,568 906,869
Other income 45,563 - - 45,563 122,870
Total incoming resources 3 4,347,436 161,793 4,509,229 4,186,543
-
Expenditure
Raising funds 76,859 - - 76,859 49,165
Trading expenditure – catering
and tuck shops		 617,639 - - 617,639 587,153
Expenditure on charitable
activities		 4,062,212 223,229 81,833 4,367,274 4,013,209
Total expenditure 4 4,756,710 223,229 81,833 5,061,772 4,649,527
Transfer between reserves 42,600 - (42,600) - -
Net movement in funds (366,674) (223,229) 37,360 (552,543) (462,984)
Reconciliation of funds
Fund Balance at 1 Sep 2023 2,486,044 3,359,948 6,752 5,852,744 6,315,728
Total funds carried forward 2,119,370 3,136,719 44,112 5,300,201 5,852,744
All of the activities of the Charitable Company are classified as continuing.
The notes on pages 25-37 form part of these financial statements.

21

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Balance Sheet Company Number: 04718891

As at 31 August 2024

As at 31 August 2024
2024 2023
Notes £ £ £ £
Fixed Assets 9 8,015,518 8,405,482
Current Assets
Stock 27,826 16,478
Debtors 10 517,942 352,916
Cash at bank and in hand 79,300 69,664
625,068 439,057
Creditors: amounts falling due within
one year		 11 (1,908,887) (1,552,666)
Net assets/liabilities (1,283,819) (1,113,609)
Total assets less current liabilities 11 6,731,699 7,291,874
Creditors: amounts falling due after
more than one year		 (1,431,498) (1,439,129)
Total net assets/liabilities 5,300,201 5,852,744
The funds of the Charity
Restricted funds 44,112 6,752
Unrestricted general funds 2,119,370 2,486,044
Unrestricted designated funds 3,136,719 3,359,948
Total unrestricted funds 5,256,089 5,845,992
Total Charity funds 5,300,201 5,852,744

These financial statements have been prepared in accordance with the provisions applicable to small companies within Part 15 of the Companies Act 2006.

The notes on pages 25-37 form part of these financial statements.

Approved by the Board of Trustees on 21 May 2025 and signed on its behalf by:

M Wooding Jones Chair

22

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Statement of Cash Flow As at 31 August 2024

tatement of Cash Flow
s at 31 August 2024
Income for the reporting periods (as per
the statement of financial activities)
Adjustments for:
Depreciation of tangible fixed assets
Profit/(Loss) on disposal of assets
Changes in:
Stock
Trade and other debtors
Trade and other creditors
Net cash flow from operating activities
Cash flows from investing activities:
Purchase of tangible fixed assets
Sale of tangible fixed assets (net of costs of disposal)
Net cash flow from investing activities
Cash flows from financing activities:
Cash proceeds from loans
Cash repayments of amounts borrowed
Capital element of finance lease repayments
Net cash flow from financing activities
Net increase/(decrease) in cash
Cash and cash equivalents at 1 September 2023
Cash and cash equivalents at 31 August 2024
Cash and cash equivalents consists of:
Cash at bank and in hand
Bank overdraft repayable on demand		 2024
2023
£
£
(552,543)
(462,984)
521,455
534,374
(4,910)
(8,127)
(11,348)
(4,788)
(165,026)
78,372
344,551
(95,664)
132,178
41,184
(141,889)
(390,466)
15,308
3,408
(126,581)
(387,058)
-
-
(21,669)
(106,828)
-
-
(21,669)
(106,828)
(16,072)
(452,702)
(116,545)
336,157
(132,617)
(116,545)
79,300
69,664
(211,917)
(186,209)
(132,617)
(116,545)

23

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Analysis of changes in net debt
Cash at bank & in hand
Bank overdraft repayable on demand
Loans falling due within one year
Loans falling due after more than one year
Analysis of changes in net debt (Prior year)
Cash at bank & in hand
Bank overdraft repayable on demand
Loans falling due within one year
Loans falling due after more than one year		 1 Sep 2023 Cash Flows 31 Aug 2024
£
£
£
69,664
9,636
79,300
(186,209)
(25,708)
(211,917)
(116,545)
(16,072)
(132,617)
(22,495)
2,663
(19,832)
(1,436,865)
19,006
(1,417,859)
(1,575,905)
5,597
(1,570,308)
1 Sep 2022 Cash Flows 31 Aug 2023
£
£
£
336,157
(266,493)
69,664
-
(186,209)
(186,209)
336,157
(452,702)
(116,545)
(94,138)
71,643
(22,495)
(1,482,753)
45,888
(1,436,865)
(1,240,734)
(335,171)
(1,575,905)

24

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Notes forming part of the Financial Statements for the year ended 31 August 2024

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

(a) Basis of Preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective January 2015) (Charities SORP FRS 102) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). They are prepared in sterling which is the functional currency of the Charitable Company and rounded to the nearest £1.

(b) Preparation of the accounts on a going concern basis

The Charity has a permanent overdraft facility of £500,000 available to it and at the balance sheet date the overdraft facility being used was £212,000. During the year ended 31 August 2024, repayments of £22,000 were made on the long-term loan, which was originally £1.5m, leaving a balance of £1,438,000 owed as of 31 August 2024. During the winter of 2024/25, the charity agreed a temporary increase in the overdraft facility to £700,000 to help it meet its obligations as they fell due. The charity has continued to make repayments of capital and interest since the year end on the long-term loan in line with a schedule agreed with the bank. The charity has not been able to comply with all financial covenants pertaining to the long-term loan based on its audited 2024 financial statements or management accounts prepared so far for 2024/25. The charity’s bankers have however issued a covenant waiver letter and in April 2025, renewed the overdraft facility, with the next scheduled review being due in April 2026.

The Trustees have considered the financial sustainability of the Charity for both existing and future funding streams. The trustees are confident that because of continued financial support from its bankers and with the charity’s track record for the managing cash flow carefully to ensure that it

25

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Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

operates within the parameters established with lenders and suppliers, the charity remains a going concern.

(c) 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.

Restricted funds can only be used in accordance with specific restrictions imposed by donor or which have been raised by the company for a particular purpose. The cost 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. Grant monies received for specific purposes are reported in the statement of financial activities for the year. Where such funds give rise to an enduring asset the capitalised value is transferred to general funds or designated funds as is relevant in recognition of where the asset being funded by the grant is recorded.

Designated funds comprise unrestricted funds that have been set aside by the directors for particular purposes. The aim and use of each designated fund is set out in note 12 to the financial statements.

(d) Income

All incoming resources are included in the statement of financial activities when the Charity is legally entitled to the income, there is sufficient certainty of receipt and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.

Grant income is included when the related conditions to the grant have been met.

Donations and legacies income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when received.

Deposits invoiced in advance that relate to future periods are recorded as deferred income.

All other income is accounted for on a receivable basis.

26

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

(e) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

The accounts are prepared on the accruals basis, liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to expenditure.

Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Expenditure on raising funds consists of all those expenses that are incurred by trading for a fundraising purpose in either donated or brought-in-goods or in providing non-charitable services to generate income, as well as the costs associated with attracting voluntary income.

Expenditure on charitable activities comprise all the resources applied by the Charity in undertaking its work to meet its charitable objectives as well as the cost of raising the funds to finance these activities and governance costs. Charitable activities are all the resources expended by the Charity in the delivery of goods and services, including its programme and project work that is directed at the achievement of its charitable aims and objectives. These costs include direct costs of the charitable activities together with those support costs incurred that enable these activities to be undertaken, as well as governance costs which relate to the general running of the Charity as opposed to the direct management functions inherent in generating funds, service delivery and programme of project work.

These activities provide the governance infrastructure which allows the Charity to operate and to generate the information required for public accountability and include the strategic planning purposes that contribute to future development of the Charity.

Governance costs include such items as external audit, legal advice for Trustees and costs associated with the constitutional and statutory requirements of the Charity.

All costs are allocated between the expenditure categories of the Statement of Financial Activities (SOFA) on a basis designed to reflect the use of the

27

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

(f) Leasing and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Charity.

Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the statement of financial activities so as to produce a consistent periodic rate of charge on the net obligation outstanding in each period.

(g) Tangible Assets

Tangible assets are now defined as those that have a greater value than £1,000. They are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and impairment losses.

Depreciation is calculated to write off the cost or valuation of an assets, less its residual value, over the useful economic life of that asset as follows:

Freehold land Not depreciated Freehold building and improvements 2-10% straight-line on cost Leasehold building and improvements Over remainder of lease 5-25% reducing balance, 10-20% Plant and equipment straight line on cost 25% straight-line on a full month Motor Vehicles basis 33% straight-line on a full month Computer equipment basis

28

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

(h) Stock

Stock is included at the lower of cost or net realisable value.

(i) Cash at bank and in hand

Cash at bank and in hand represents liquid cash only.

(j) Creditors and provisions

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

(k) 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 rate method.

(l) Operating leases

Rentals payable under operating leases are charged in the statement of financial activities on the straight-line basis over the terms of the leases.

(m) Pensions

The Charity operates a defined contribution pension scheme and in May 2014 additionally joined the National Employment Savings Trust (NEST).

The pension charge represents the amounts payable by the Charity to the fund and to NEST in respect of the year.

2 Legal status of the Trust

The Charity is a company limited by guarantee and has no share capital. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

29

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

3 Income

Donations and legacies
Donations and legacies
CJRS grants
Other grants
Income from charitable activities
Lettings and accommodation
Instructed activity sessions
Other charitable activities
Other trading activities
Other income
Total		 Unrestricted
Designated
Restricted
Total Funds
Total
Funds
2024
2024
2024
2024
2023
£
£
£
£
£
130,475
-
102,024
232,499
147,573
-
-
- --
-
-
59,769
59,769
40,992

1,728,232 - - 1,728,2321,632,126
1,422,720 - -
1,422,720
1,333,713
9,878
- -
9,878
2,400
1,010,568 - - 1,010,568906,869
45,563 - - 45,563122,869
4,347,436
-
161,793
4,509,229
4,186,543

In 2023: the income split was £4,130,938 unrestricted and £55,605 restricted.

30

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

4 Total Expenditure

The Statement of Financial Activities provides an analysis of the resources expended by the Charity by the nature of activities undertaken by the Charity.

==> picture [535 x 393] intentionally omitted <==

----- Start of picture text -----
Unrestricted Unrestricted Restricted 2024 2023
funds funds funds Total Total
Trading
Expenditure Expenditure
expenditure
on charitable on charitable
& Raising
activities activities
funds
£ £ £ £ £
Fundraising and publicity - 45,796 - 45,796 49,165
Catering and tuck shops - 617,639 - 617,639 587,153
Activity expenses 1,005,930 - 76,950 1,082,880 914,414
Staff and accommodation costs 2,162,179 31,063 4,883 2,198,125 2,020,752
Depreciation 521,455 - - 521,455 534,374
Support costs
Interest payable and similar
135,864 - - 135,864 115,604
charges
Legal fees 6,326 - - 6,326 5,176
Centre office and
227,552 - - 227,552 225,696
administration costs
Motor and travel 84,364 - - 84,364 68,950
Other support costs 97,892 - - 97,892 92,724
Governance Costs
Charitable administration costs 26,980 - - 26,980 24,825
Audit and accountancy 16,899 - - 16,899 10,695
Total Resources Expended 4,285,441 694,498 81,833 5,061,772 4,649,527
----- End of picture text -----

In 2023: £3,939,472 were unrestricted, £636,318 was designated and £73,737 restricted.

31

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

5 Net (expenditure)/income

Net (expenditure)/income is stated after charging/(crediting): Net (expenditure)/income is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible fixed assets 521,455534,374
Payments for operating leases - -
Auditor’s remuneration
for audit services 16,794 10,540

No remuneration is paid to the Trustees for their services as Trustees of the company, three Trustees were reimbursed travel and other expenses of £2,013 (2023: £937).

6 Staff costs

The total staff and employee benefits for the period are analysed as follows:

Wages and salaries
Social Security costs
Employer contributions to pension plans
Other staff costs		 2024
2023
£
£
1,978,4441,755,224
163,608
141,312
89,58880,127
184,761269,653
2,416,4012,246,316
2,416,401 2,416,401 2,246,316
The full-time equivalent head count of employees during the period were:
2024 2023
Activity staff 30 25
Centre staff 63
 61
Total 93 86

The number of employees receiving remuneration during the year of more than £60,000 were:

2024 2023
£60000-£70000 - -
£70001-£80000 - -
>£80000 1 1

32

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

The aggregate remuneration of key personnel during the year was:

2024 2023
£ £
Key management personnel 408,120 372,924

7 Pension Scheme

The employer's contributions to all schemes in the year were £89,588 (2023: £80,127) with an employer's contribution rate of 4-8% of pensionable pay and an employee's contribution of 4%, respectively, of pensionable pay.

8 Taxation

The Company is a registered Charity, and no provision is considered necessary for taxation to the extent that income and gains are applied to its charitable objects.

9 Tangible Fixed Assets

COST
As at 1 September 2023
Additions
Disposals
At 31 August 2024
DEPRECIATION
As at 1 September 2023
Charge for the year
Disposals
NET BOOK VALUE
At 31 August 2024
At 31 August 2023		 Freehold and
Freehold
Leasehold
Plant and
Motor
land
improvements
equipment
vehicles
Total
£
£
£
£
£
428,224 12,757,936
2,330,632
164,655 15,681,447
- 15,570 101,269
25,050
141,889
(7,495)
(33,025)
(40,520)
428,224
12,773,506
2,424,406
156,680 15,782,816
- 5,769,447
1,380,221
126,297 7,275,965
370,541 135,364
15,549 521,454
(4,938)
(25,183)
(30,121)
-
6,139,988
1,510,647
116,663
7,767,298
428,224
6,633,518
913,759
40,017
8,015,518
428,224
6,988,490
950,411
38,357
8,405,482

33

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

10 Debtors

Trade debtors
Prepayment and accrued income
Total
Creditors
Creditors: amount falling due within one year
Bank loans and overdrafts
Trade creditors
Accruals and deferred income
Social security and other taxes
Other creditors
Total
2024
2023
£
£
390,488320,904
127,45432,012
517,942
352,916
2024
2023
£
£
231,749208,704
391,064176,248
1,024,777853,349
125,477116,149
135,820198,215
1,908,8871,552,666

11 Creditors

The bank loans and overdrafts are subject to interest and secured by a fixed charge over some of the Charity’s freehold properties. The properties used as security had a net book value of £2.9m at the balance sheet date.

Within accruals and deferred income as at 31/08/2024 there is £929k which relates to deferred income (2023: £696k). This is for accommodation and activity deposits for the financial year 2024 deferred in the year of £691k, with amounts released from prior year of £679k.

Within other creditors is a sum of £100,000 that was technically repayable on demand but because of discussions that have taken place in early 2025 will actually be repaid over a three-year period, with the last instalment having been paid over by April 2028.

34

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Creditors: amount falling due after more than one year

2024 2023
£ £
Bank loans and overdrafts 1,417,859 1,436,865
Accruals and deferred income 13,639 2,264
Other creditors - -
Total 1,431,498 1,439,129
Further analysis of bank loans and overdrafts:
<1 year 1-5 years
£ £
Reliance Bank overdraft
 211,917 -
Reliance Bank Loan 19,832 1,417,859
231,749 1,417,859

12 Analysis of Fund Movements

Restricted Funds
Bursary Funds
Other Funds
Unrestricted Funds
Designated-Summit
Centre
General
Total Funds		 Balance at
Movement in funds
Transfer
Balance at
01/09/2023
Income
Expenditure
between funds
31/08/2024
£
£
£
£
-
102,024
(73,383)
-
28,642
6,752
59,769
(8,450)
(42,600)
15,470
6,752
161,793
(81,833)
(42,600)
44,112
3,359,948
-
(223,229)
-
3,136,719
2,486,044
4,347,436
(4,756,710)
42,600
2,119,370
5,845,992
4,347,436
(4,979,939)
42,600
5,256,089
5,852,744
4,509,229
(5,061,772)
-
5,300,201

The transfer of £42,600 from restricted funds to general funds is in respect of money given for specific purposes which has been invested in equipment and other items classified within fixed asset additions in the general funds, and the depreciation arising is also being charged to the general fund.

35

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

Prior year
Restricted Funds
Bursary Funds
Other Funds
Unrestricted Funds
Designated-Summit
Centre
General
Total Funds		 Balance at
Movement in funds
Transfer
Balance at
01/09/2022
Income
Expenditure
between funds
31/08/2023
£
£
£
£
(6,618)
50,305
(53,126)
9,439
-
76,994
5,300
(20,610)
(54,931)
6,752
70,376
55,605
(73,737)
(45,492)
6,752
3,571,407
-
(211,459)
-
3,359,948
2,673,945
4,130,938
(4,364,331)
45,492
2,486,044
6,245,352
4,130,938
(4,575,790)
45,492
5,845,992
6,315,728
4,186,543
(4,649,527)
-
5,852,744
13 Analysis of Net Assets Between Funds
Unrestricted
funds		 Designated Restricted Total
£ £ £ £
Fund balances at 31 August 2024 are represented
by:
Fixed Assets 4,878,799 3,136,719 - 8,015,518
Current Assets 580,956 - 44,112 625,068
Creditors: amounts falling due within one year (1,908,887) - - (1,908,887)
Creditors: amounts falling after more than one year (1,431,498) - - (1,431,498)
Total 2,119,370 3,136,719 44,112 5,300,201
Fund balances at 31 August 2023 are represented
by:
Fixed Assets 5,045,534 3,359,948 - 8,405,482
Current Assets 432,305 - 6,752 439,057
Creditors: amounts falling due within one year (1,552,666) - - (1,552,666)
Creditors: amounts falling after more than one year (1,439,129) - - (1,439,129)
Total 2,486,044 3,359,948 6,752 5,852,744

36

Docusign Envelope ID: 8BC0C0C6-22DA-42C5-9026-6ADE902657B2

Rock UK Adventure Centres Limited Trustees’ Report and Audited Accounts For the Year Ended 31 August 2024

14 Operating lease commitments

The company is committed to make total future lease payments under operating leases as follows:

Not later than 1 year
Later than one year and not later than five years
Later than five years		 2024
2023
£
£
80,44580,455
321,782
321,782
643,564
724,009
1,045,7911,126,236

15 Related parties

Total amounts received from trustees and other related parties during the period was as follows:

Related party transactions 2024
2023
£
£
5,573
4,900

37