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← Adrenaline Alley

2024-03-31-accounts

REGISTERED COMPANY NUMBER: 05819804 (England and Wales) REGISTERED CHARITY NUMBER: 1115146

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ADRENALINE ALLEY

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ADRENALINE ALLEY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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Report of the Trustees
Report of the Independent Auditors
Statement of Financial Activities
Statement of Financial Position
Statement of Cash Flows
Notes to the Statement of Cash Flows
Notes to the Financial Statements
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ADRENALINE ALLEY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES ‘ Objectives and aims The Charity's objectives are to provide or assist in the provision of recreational facilities in or around Corby, Northamptonshire for young people with the object of improving opportunities, health, and wellbeing and to provide for such persons' facilities for skateboarding, roller-skating, cycling and other such similar activities. To increase opportunities and activities for disability, female, beginners, and participants from European and BAME communities. The charity's long-term objective is to continue expanding and developing the Corby site and adapt land on its purchased 6-acre site for future development. To secure its asset by improving the buildings for the future.

The charity has a 6-year plan to secure the asset by improving all three buildings for current and future activities including roof replacements, drainage improvements to support the vision to develop a Multi-use Community Centre of Excellence and become the UK home for BMX Freestyle and create an academy for young people in the sports who wish to further their careers. In addition, provide accommodation on site, increase its own brand of merchandise and to replicate the business model to help develop communities in the same way as it has done for Corby.

Through the Northants Community Foundation, the John Chard-Young Legacy Fund supports people with mental health problems through a programme that can support people with physical and mental health problems but also those struggling financially to participate. The fund will also support people with disabilities to encourage people to engage in the sports, develop their skills and volunteer.

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Launched in August 2023, Adrenaline Alley's Active In Motion exercise centre is supporting old and young people to improve their health and wellbeing through exercise using low impact, power assisted exercise machines.

Aims:

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o Sustain the charity. o Secure the asset

o Increase participation and revenue.

o Launch a new website and intemal CMS (June 2025)

o Develop a 6-year plan.

o Increase the catering service.

o Develop a merchandise brand on the website.

o Provide employment opportunities.

0 Provide Licences to Occupy for other small businesses.

o Promote and provide volunteer work.

o Support and develop BMX Freestyle as an Olympic sport. o Promote healthy lifestyles.

o Reduce anti-social behaviour through positive and diversionary activities.

0 Provide leaming and training opportunities.

o Increase opportunities for those living in areas of deprivation and are at risk of social exclusion.

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0 Increase tourism and contribute to Corby and Northamptonshire's economy. o Develop a replication model for the future.

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ADRENALINE ALLEY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

Significant activities

Adrenaline Alley is renowned as "the biggest and best park in the Europe" and has attracted over 1m visits since its inception in February 2002. Formerly known as Corby Wheels Project the charity rebranded and registered with Companies House and the Charity Commission as Adrenaline Alley. It has increased the chanties potential to expand and develop and provide replication opportunities in other communities in the future. The charity collaborates with various community and social groups to promote and help those at risk of exclusion, poverty, or disadvantage. It provides sporting sessions, reduced cost sessions and equipment hire prices, opportunities for staff, volunteers, and people in the community to engage in sporting, training, and leaming opportunities and outreach activities.

Factors relevant to the achievement of the charity's objectives during the financial year were as follows: 1. Continue to develop the Corby site to increase participation.

  1. Attract sponsors and events.

  2. Designing and planning a new website and intemal CMS.

  3. Encourage people to be more active and improve health and wellbeing especially is the older age groups and for people with lifelong illnesses and disabilities.

  4. Continue providing staff and volunteers with training and leaming opportunities. 6. Up skill managers to into senior management positions in line with the company's transition and succession plan. 7. Provide certified training opportunities for all staff and management.

  5. Offer discounted rates to disadvantaged individuals and groups.

  6. Support and encourage WCMX (wheelchair adaptive skating).

The Board of Directors continually monitor and evaluate the business with a clear focus on the Charity's strategic objectives and continues to work with existing and new stakeholders and investors.

Budgets, cash flow and forecasts are monitored against actual performance monthly, and the board continue to work proactively to deliver the organisations vision, mission, and objectives.

Public benefit

The Trustees have had regard to the Charity Commission guidance on public benefit.

The benefits that arise from the aims and principal objectives of the charity are to provide or assist in the provision of recreational facilities in or around Corby, Northamptonshire for young people with the object of improving their condition of life.

The charity has met the public benefit test through delivering its mission, to provide for such persons’ facilities for BMX, skateboarding, inline and quad and scootering and other such similar activities. Our organisation's aims intend to continue expanding and developing the Corby site, develop a Multi-use Community Centre of Excellence, increase its own brand of merchandise, install accommodation and replicate the business model to help develop communities in the same way as it has done for Corby.

Grantmaking

The charity donated £1,232 in this financial year to support people in the community to improve the physical and mental wellbeing and to support people who have financial constraints to access free session at Active In Motion and for people with disabilities to access Adrenaline Alley sessions. The funds are hosted by the Northamptonshire Community Foundation on behalf of the John Chard-Young Legacy Fund.

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ADRENALINE ALLEY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

Volunteers The charity has forty-five volunteers working flexible hours and times through a wide range of activities from general park supervision, roof repairs, coaching, maintaining the facility, event management to marketing. Twenty-six are regular volunteers contributing 3 hours per week during schooi terms. Their contribution was an average of 26 volunteers x 3 hrs x 39 weeks = 3042 hours, equating to £19,773. Other volunteers are on an adhoc basis. The charity's success would not be possible without volunteer support and generosity.

The Trustees would particularly like to thank those who have collaborated with us to raise the charity's profile.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Factors relevant to the achievement of the charity's objectives during the financial year were as follows:

  1. Continue to develop the Corby site to increase participation

  2. Attract sponsors and events

  3. Continue providing staff and volunteers with training and leaming opportunities

  4. Up skill managers to senior management positions in line with the company's transition and succession ‘plan

  5. Provide certified training opportunities for all staff and management

  6. Offer discounted rates to disadvantaged individuals and groups

  7. Support and encourage WCMxX (wheelchair adaptive skating)

Fundraising activities

The charity does not use the services of professional fundraisers or commercial participators to assist with its fund development. The charity abides by the Code of Fundraising practice introduced by the Fundraising Regulator and no complaints have been received regarding its fund development activities.

To support the social mission of the charity the board of trustees have approved a percentage of revenue generated from Adrenaline Alley to be donated to the John Chard-Young Legacy Fund on an annual basis for it to carry out its mission to help more people across the community suffering with mental and physical problems.

The Trustees want to thank all those individuals and organisations that have, as either donors or supporters, helped us to achieve a successful year. Our success would not be possible without their support and generosity. We would particularly like to thank those who have collaborated with us to raise the charity's profile.

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ADRENALINE ALLEY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

ACHIEVEMENT AND PERFORMANCE

The Board of Directors continually analyse the charities finances, forecasts, and developments to determine achievable outcomes for the future. They analyse and assess what the financial and operational risk could be and what control measures should be implemented to minimise risks. They assess the impact the controls would have on the charity, its beneficiaries, and stakeholders.

This financial year was a success for the charity and the investment towards the new digital project was a £116k investment by the charity. This is crucial to support future developments and provide an up-to-date website and internal CMS system for existing and new activities and to support the 6 year plan.

Events, training, and coaching opportunities have continued to increase with an average of 170 children per week attending training clubs. The charity has created a training and coaching pathway from 2 years old to Olympic training level with regular training sessions for Olympic athletes. Staff, volunteer, and management training plans have been successfully implemented and a company succession and transition plan remain operational. Individual skill management is encouraged through Personal Development Plans (PDP's) to increase and develop skills which help to retain staff long term. The board of trustees are satisfied the charity can continue its activities during the coming year and is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

FINANCIAL REVIEW

Principal funding sources

This financial year’s success is testament to the dedication and challenging work the team have given to ensure the charity remains financially sustainable. Their contribution and passion to ensure the charity - delivers its business and social aims is to be applauded.

The board of trustees are very satisfied with the performance of the charity during the year ending the 31st of March 2024 and express thanks to the staff and volunteers for their remarkable performance this year.

Funding secured 2023-2024:

The deficit on the ordinary activities of the charity during the year amounted to £45,646 (2023: surplus £14,273). The balance of unrestricted funds decreased by £36,102 to £1,142,688 and restricted funds decreased by £9,544 to £910,566.

Changes in fixed assets are shown in detail in the notes to the accounts. These mainly include improvements to the premises and skate parks.

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ADRENALINE ALLEY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

FINANCIAL REVIEW

Reserves policy

The Board of Trustees examined the charity's requirements for reserves considering the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be a minimum of 6 months of the expenditure.

The unrestricted reserves the charity has identified within its Change of Management Policy is £350k. This was introduced as a contingency fund following the pandemic to cover all ongoing costs for a period of 6 months. The current unrestricted reserves, not invested in fixed assets, is £250k due to investment in the park and new IT systems. The charity aims to increase free reserves to £350k over the next couple of years.

The board of trustees and Management Committee are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in participation.

Short term the board has considered the extent to which existing activities and expenditure could be curtailed, to proactively counteract for any predicted changes in participation, trends, and financial ; circumstances.

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ADRENALINE ALLEY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

FUTURE PLANS

The charity plans to continue its core activities focussing directly on its future sustainability and participation. The Board of Trustees have taken the decision to continue with the controlled measures in place.

Providing onsite accommodation has always beena vision for the charity and could provide customers with the "complete package" allowing the introduction of package deals and tickets. The charity is working to make this a reality.

Adrenaline Alley is at the forefront of UK facilities and plans to improve its digital infrastructure to provide better and increased services, activities and overall improve the customer experience. This project will enable us to develop and expand in the future, allow other skateparks and leisure facilities to purchase the systems and provide our customers with a user-friendly website and complete booking process all in one. In addition, we will have the ability to target market via our systems and website to specific groups of people and those participating in the individual sports. This is due to launch end of October 2024. Adrenaline Alley played a key role by providing a facility for training elite athletes in preparation for the Paris Olympics in 2024. With the success for BMX Freestyle and skateboarding in the Olympics our vision is to provide a world class Centre of Excellence in the UK for training, events, and general participation. This could help to attract future sponsors, increase events, and attract participation contributing to the overall future sustainability of the charity. The charity is working towards its 6-year Development plan to provide this centre by 2030. Long term the vision is to replicate the business model nationwide to help other communities to develop meeting the needs of local communities and create “feeder” parks while Corby remains the "Wembley of Urban Sports”.

Consultation on a European project continues. This project will help major European developments to install good, indoor, and outdoor facilities for the future. ; Objectives From 1st April 2024 1. Continue to increase new and repeat participation. 2. Secure the asset by improving infrastructure. ‘

  1. implement the 6-year Development Plan.

  2. Secure funding.

  3. Increase social media campaigns.

  4. Change and improve park areas to encourage participation.

  5. Increase training and coaching opportunities.

  6. Consult on projects in Europe.

  7. Install accommodation.

  8. Launch a new website and internal CMS.

  9. increase events.

  10. Develop an LGBTQAI session.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The organisation is a charitable company limited by guarantee. In the event of the organisation being wound up members are required to contribute an amount not exceeding £1. The company was established under a Memorandum of Association, which established the objectives and powers of the charitable company and is govemed under its Articles of Association.

The company is limited by guarantee and therefore has no share capital.

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ADRENALINE ALLEY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees All new trustees are voted for and recommended by members at our annual AGM.

The charity appoints, removes or disqualifies directors in accordance with 12.1.1 - 13.1.6 of its constitution.

Organisational structure

The Charity has a Board of Directors who are the overall decision makers for the charity and guide and lead the organisation strategically and successfully. They are responsible for supervising the organisations policies, the strategic decisions that ensure the effective and efficient running of the business.

The Board of Trustees are the overall decision makers for the charity, The Chief Executive Officer (CEO) is responsible for the overall performance and the Operations Director is responsible for the day-to-day operational management and or the review of all the charities policies and procedures. The organisation employs thirty two people an FTE of 12.

Induction and training of new trustees

Prior to being elected, nominees are invited to a Management Committee meeting, as well as visiting the premises to meet trustees and staff.

Should they be appointed, they are provided with all relevant information for the Charity Commission and Companies House as weil as information for the Charity itself and the work and responsibilities for a trustee.

Following this, arrangements are made, on a continual basis, to attend any courses that are deemed beneficial for a trustee.

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ADRENALINE ALLEY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Key management remuneration

The charity is committed to ensuring a proper balance between:

a) paying its staff and others who work for it so that it can attract and retain the best people for the job b) careful management of the charity's funds

In so doing it will ensure the greatest effectiveness in delivering its charitable objectives and meeting the needs of its beneficiaries. Salaries for all posts, other than managers and paid Company Directors (Development Director & Operations Director), will comprise a band made up of a series of evenly distributed salary & pay points that are based on the National Minimum Wage for age rates. All staff will be entitled to receive a contribution towards a private pension scheme, equivalent to 3% of their gross salary. In accordance with the Government's salary exchange scheme, staff may elect to sacrifice some of their salary in lieu of an increased employer contribution. In March each year, the Trustees will determine whether the salary levels for all staff should be adjusted for the forthcoming financial year beginning 1st April, to reflect national cost of living changes and agree increases in accordance and consideration of the performance and financial position of the business. Cost of living adjustments will be applied equally to all staff.

The annual, formal, considerations of the Trustees are to:

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d) cost of living adjustments made in recent years

e) pay reviews trends

There are no Trustees receiving remuneration for their role as a Trustee. During the period, no claims were made by the Trustees for reimbursement of expenses in this financial year.

Two employees earned in excess of £60,000 and the total remuneration paid to two key management personnel during the year was £169,230 (2023: £160,665).

Engagement with employees Adrenaline Alley is an equal opportunities employer and encourages anyone who has the potential to develop their personal and academic skills. It engages with disabled volunteers and continues to raise awareness of opportunities.

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ADRENALINE ALLEY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

The trustees have a duty to identify and review risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. New Risk Management policies have been introduced and approved within the Tier 2 governance programme via Sport England to ensure the charity and its board members, staff and volunteers comply to Charity Commission good practice and regulations.

The trustees have discussed the major risks to which the charity was exposed during the pandemic. Where appropnate, systems or procedures have been established to mitigate potential risks the charity faces.

Significant external risks to future funding have led to the implementation of a strategic development plan, which will allow for the diversification of funding and activities to be analysed and implemented. The biggest risk to the charity now is a decrease in participation with the cost-of-living crisis. Therefore, the primary focus will be to increase participation through innovative marketing to attract repeat and new customers over the next year. The new website will help us to target market and promote offers and discounts to customers directly.

The Risk Management Policy identified how the charity will manage unprecedented events such as a pandemic happening in the future and what reserves the charity should hold if these circumstances occur again. Risk assessments are in place for all areas of the business and are regularly reviewed when necessary and in line with our risk management procedures. Internal contro! risks are minimised by internal procedures for authorisation of all transactions and projects. Policies and procedures are in place to ensure compliance with health and safety of staff, volunteers, clients, and visitors to the centre.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 05819804 (England and Wales)

Registered Charity number 1115146

Registered office 6 Priors Haw Road Corby Northamptonshire NN17 5JG

Trustees

J Caine

A Gonzalez De Savage P Labaj

L Kay (resigned 1/1/2024)

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N Bolton S T Holford S Lee-Vae (resigned 2/9/2024)

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K F Thomas (appointed 15/1/2024) JS Young (appointed 23/7/2024)

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ADRENALINE ALLEY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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REFERENCE AND ADMINISTRATIVE DETAILS

Auditors

Shaw Gibbs (Audit) Limited Chartered Certified Accountants , Statutory Auditor Eagle House 28 Billing Road Northampton Northamptonshire . NN1 5AJ

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Bankers

National Westminster Bank pic

Chief Executive Officer

Mandy Elizabeth Young MBE DL

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also the directors of Adrenaline Alley for the purposes of company law) are responsible for preparing the Report of the Trustees 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 charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

In so far as the trustees are aware:

AUDITORS The auditors, Shaw Gibbs (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

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ADRENALINE ALLEY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 22. [)0 202%and signed on its behalf by:

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ADRENALINE ALLEY

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Opinion

We have audited the financial statements of Adrenaline Alley (the ‘charitable company’) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charitable company’s affairs as at 31 March 2024 and of; its incoming resources and application of resources, including its income and expenditure, for the year then ended; 8, - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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 concem basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concem 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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ADRENALINE ALLEY

Matters on which we are required to report by exception

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

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities, 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 intemal 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 concem, disclosing, as applicable, matters related to going concer and using the going concem 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.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ADRENALINE ALLEY

Our responsibilities for the audit of the financial statements

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

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, 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 regulations; - we identified the laws and regulations applicable to the charitable company through discussions with management, and from our knowledge and experience of the sector; - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, United Kingdom Generally Accepted Accounting Practice, relevant taxation legislation and data protection, employment, and health and safety legislation; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence and professional fees.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and - considering the intemal controfs in place to mitigate risks of fraud and non-compliance with laws and regulations.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management and the understatement of revenue. Our audit procedures performed to respond to these risks included: - analytical procedures to identify any unusual or unexpected relationships; - detailed substantive testing on the completeness of income; - testing journal entries to identify unusual transactions; - assessing whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and - investigating the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - reading the minutes of meetings of those charged with governance; +- agreeingenquiring financialof management statementas disclosures to actual andto underlyingpotential litigationsupportingand documentation;claims; and - reviewing correspondence with HMRC and other relevant parties.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ADRENALINE ALLEY

These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.

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

Use of our report

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

Shes Clos (Arslde) bet.

Shaw Gibbs (Audit) Limited

Chartered Certified Accountants Statutory Auditor Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Eagle House

28 Billing Road Northampton Northamptonshire NN1 5AJ

Date: LS, Ockthes 2024

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ADRENALINE ALLEY

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

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||||||||| |---|---|---|---|---|---|---|---| |2024|2023| |Unrestricted|Restricted|Total|Total| |funds|funds|funds|funds| |Notes|£|£|£|£| |INCOME AND|ENDOWMENTS|FROM| |Donations|and|legacies|2|3,687|125,288|128,975|116,098| |Charitable|activities|4| |Charitable|activities|1,085,630|-|1,085,630|890,008| |Investment|income|3|55,439|-|55,439|54,387| |Other income|6,860|-|6,860|13,260| |)| |Total|1,151,616|125,288|1,276,904|—‘1,073,753| |EXPENDITURE|ON| |Charitable|activities|5| |Chanttable|activities|1,188,025|134,525|1,322,550|1,059,480| |Support costs|-|-|-|-| |Total|1,188,025|134,525|1,322,550|1,059,480| |NET INCOME/(EXPENDITURE)|(36,409)|(9,237|}|(45,646)|14,273| |Transfers|between funds|23|307|(307)|-|-| |.| |Net movement|in funds|(36,102)|(9,544)|(45,646)|14,273| |RECONCILIATION|OF|FUNDS| |Total|funds brought forward|1,178,790|920,110|2,098,300|2,084,627| |TOTAL FUNDS CARRIED FORWARD|1,142,688|910,566|2,053,254|2,098,900|

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The notes form part of these financial statements

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ADRENALINE ALLEY

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STATEMENT OF FINANCIAL POSITION

31 MARCH 2024

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|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |2024|2023| |Unrestricted|Restricted|Total|Total| |funds|funds|funds|funds| |Notes|g|£|£|g| |FIXED|ASSETS| |Intangible|assets|13|88,997|51,399|140,396|-| |Tangible|assets|14|1,479,670|848,254|2,327|,924|2,363,599| |1,568,667|899,653|2,468,320|2,363,599| |CURRENT ASSETS| |Stocks|15|16,470|-|16,470|18,011| |Debtors|16|53,472|-|53,472|29,546| |Cash|at bank and|in|hand|376,535|29,401|405,936|498,779| |446,477|29,401|475,878|546,336| |CREDITORS| |Amounts|falling|due|within|one|year|17|(197,692|)|(18,488|)|(216,180)|(116,986)| |NET CURRENT ASSETS|248,785|10,913|259,698|429,350| |TOTAL ASSETS|LESS|CURRENT| |LIABILITIES|1,817,452|910,566|2,728,018|2,792,949| |CREDITORS| |Amounts|falling|due|after more|than|one| |year|18|(671,435)|-|(671,435)|(690,350)| |PROVISIONS|FOR|LIABILITIES|22|(3,329)|-|(3,329|)|(3,699)| |||NET ASSETS|1,142,688|910,566|2,053,254|2,098,900| ||FUNDS|23| |||Unrestricted|funds|1,142,688|1,178,790| |||Restricted funds|910,566|920,110| |||. TOTAL FUNDS|2,053,254|2,098,900|

----- End of picture text -----

,

|

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The notes form part of these financial statements Page 17

continued... ,

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ADRENALINE ALLEY

STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2024

The trustees acknowledge their responsibilities for

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

Thea) Ifinarcial 19. Patements and werewere approved signed onby its behalfthe Board by: of Trustees and authorised for issue on A Gd zalezu De Savage - Trustee

The notes form part of these financial statements

Page 18

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.

ADRENALINE ALLEY

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2024

,

==> picture [480 x 348] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2024|2023| |Notes|£|£| |Cash|flows|from|operating|activities| |Cash|generated|from|operations|1|252,780|223,708| |Interest|paid|(59,414)|(40,551|)| |Net cash|provided|by|operating|activities|193,366|183,157| |Cash|flows|from|investing|activities| |Purchase|of intangible|fixed|assets|(140,396|)|-| |Purchase|of tangible|fixed|assets|(131,439)|(163,725)| |Interest|received|4,884|7|1,978| |Net cash|used|in|investing|activities|_|(266,951)|(161,747)| |Cash|flows|from financing|activities| |Loan|repayments|in|year|(19,258)|(39,671)| |Net cash|used|in|financing|activities|(19,258)|(39,671)| |.| |Change|in|cash|and|cash|equivalents| |in|the|reporting|period|(92,843)|(18,261)|-| |Cash|and|cash|equivalents|at|the| |beginning|of the|reporting|period|498,779|517,040| |Cash|and|cash|equivalents|at|the|end| |of the|reporting|period|405,936|498,779|

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The notes form part of these financial statements

Page 19

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ADRENALINE ALLEY

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

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----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2024|2023| |£|£| |Net|(expenditure)/income|for the|reporting|period|(as|per the| |Statement|of|Financial|Activities)|(45,646)|14,273| |Adjustments|for:| |Depreciation|charges|167,112|156,076| |Interest|received|(4,884)|(1,978)| |Interest|paid|59,414|40,551| |Release|of provisions|(370)|(411)| |Decrease|in|stocks|;|1,541|2,923| |Increase|in|debtors|(23,926)|(7,977)| |Increase|in|creditors|99,539|20,251| |Net cash|provided|by|operations|252,780|223,708|

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----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2.|ANALYSIS|OF|CHANGES|IN|NET|DEBT| |At|1/4/23|Cash|flow|At|31/3/24| |£|£|£| |Net|cash| |Cash|at|bank and|in|hand|498,779|(92,843)|405,936| |498,779|(92,843)|405,936| |Debt| |Debts|falling|due|within|1|year|(20,538)|343|(20,195)| |Debts falling due|after|1|year|(690,350|)|18,915|(671,435)| |(710,888)|19,258|(691,630)| |Total|(212,109)|(73,585)|(285,694|)|

----- End of picture text -----

The notes form part of these financial statements

Page 20

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ADRENALINE ALLEY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

  1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Adrenaline Alley is an incorporated charity, limited by guarantee, registered in England and Wales. | The charity's number and registered office address can be found on the Company Information page. | | The presentation currency of the financial statements is the Pound Sterling (£) and balances are : rounded to the nearest whole Pound. Judgements and estimations : The preparation of financial statements requires the use of certain critical accounting estimates. It | : also requires the Trustees to exercise their judgement in the process of applying the accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Going concern

No material uncertainties regarding going concern exist.

.

Income

All income, including Government grant income, is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the ; amount can be measured reliably.

Expenditure

|

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Computer software

Computer software is initially measured at cost. After initial recognition it is subsequently measured at cost less any accumulated amortisation and any accumulated impairment losses.

|

Computer software will be amortised evenly over its estimated useful life of 10 years. No amortisation has been recognised in the year as the asset is not yet in use.

Tangible fixed assets

Depreciation is. provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - 5% on cost Plant and machinery - 25% on reducing balance

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ADRENALINE ALLEY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024

  1. ACCOUNTING POLICIES - continued

Tangible fixed assets

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment. Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The Trustees are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 .

ADRENALINE ALLEY

1. ACCOUNTING POLICIES - continued

Financial instruments

Where the contractual obligations of financial instruments are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

  1. DONATIONS AND LEGACIES

| |

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----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2024|2023| |£|£| |DonaGran|t|sions|1152|,|482957|8716|,|498600| |Donated|services|and|facilities|10,536|12,000| |128,975|116,098|

----- End of picture text -----

Grants received, included in the above, are as follows:

==> picture [410 x 259] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |2024|2023| |£|£| |Lottery|funding|-|9,955| |Northamptonshire|County|Council|480|4,996| |University|of|Northampton|-|7,500| |England|Sports|Council|-|25,000| |British|Cycling|250|-| |Power To|Change|-|18,000| |North|Northamptonshire|Council|-|2,480| |Northamptonshire|Sport|15,040|19,567| |Corby Town|Council|1,500|-| |FCC|Communities|Foundation|96,429|-| |Key|Fund|Investment|1,783|-| |115,482|87,498| |INVESTMENT|INCOME| |2024|2023| |£|£| |Rents|received|50,555|§2,409| |Deposit|account|interest|4,884|1,978| |55,439|54,387|

----- End of picture text -----

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s

ADRENALINE ALLEY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024

4. INCOME FROM CHARITABLE ACTIVITIES. INCOME FROM CHARITABLE ACTIVITIES.
2024 2023
Activity £ £
Gate receipts Charitable activities 730,324 645,006
Facility sales and hire
income
Café income		 Charitable activities
Charitable activities		 33,799
258,330		 27,283
202,440
Merchandise sales Charitable activities 12,143 11,264
Sponsorship
Other Income		 Charitable activities
Charitable activities		 29,508
-		 3,750
265
Wellness centre income Charitable activities 21,526 -
1,085,630 890,008
5. CHARITABLE ACTIVITIES COSTS .
Grant
funding of
Direct activities Support
Costs (see (see note costs (see
note 6) 7) note 8) Totals
£ £ £ £
Charitable activities 4,103,909 26,159 192,482 1,322,550
6. DIRECTCOSTS OF CHARITABLE ACTIVITIES
2024 2023
£ £
Staffcosts 524,117 452,960
Hire of plant and machinery 15 854
Rates and water 13,727 18,706
_ Insurance
Lightand heat
Advertising and promotion
Sundries
Merchandise costs		 . 29,895
86,780
16,984
4,454
8,598		 24,938
33,073
11,898
1,264
4,745
Eventscosts 12,034 8,782
Wellness Centre 15,761 -
Café costs 135,683 104,757
Small equipment
Facility repairsandsecurity
Cleaning
Professionalfees		 -
51,065
7,643
20,356		 166
38,665
3,401
9,712
Bad debts - 42
Training
Provision released on fixed		 asset expenditure 10,050
(370)		 15,508
(411)
Depreciation 167,117 156,076
1,103,909 885,106

continued...

Page 24

ADRENALINE ALLEY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024

;

7. GRANTS PAYABLE GRANTS PAYABLE
2024 2023
£ £
Charitable activities 26,159 -
8. SUPPORT COSTS
Governance
Management Finance costs Totals
£ £ £ £
Charitable activities 82,984 87,572 21,926 192,482
Support costs, included in the above, are as follows:
Management
2024 2023
Charitable Total
activities activities
£ £
Wages
Social security		 ‘ 36,502
2,592		 31,236
2,185
Pensions 13,963 11,663
Telephone 7,478 6,743
Motorexpenses and travel 6,800 2,287
Stationery and printing , 7,428 5,588
Software and intemet costs 8,221 26,916
Recruitment Expenses - 384
82,984 87,002
Finance
2024 2023
Chantable Total
activities activities
£ £
Bank charges 28,157 23,939
Exchange rate variances 1 §58
Bank loan interest 59,414 40,551
87,572 65,048

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.

ADRENALINE ALLEY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024

,

B. SUPPORT COSTS- continued Governance costs

==> picture [409 x 101] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |2024|2023| |Charitable|Total| |activities|activities| |£|£| |Auditors’|remuneration|7,620|6,930| |Auditors'|remuneration|for|non|audit| |work|14,306|15,394| |21,926|22,324|

----- End of picture text -----

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

==> picture [406 x 64] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2024|2023| |£|£| |Auditors’|remuneration|7,620|6,930| |Auditors'|remuneration|for|non|audit work|14,306|15,394| |Depreciation|- owned|assets|167,114|156,076| |Hire|of plant and|machinery|15|854|

----- End of picture text -----

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

There are no Trustees receiving remuneration for their role as a Trustee.

Trustees’ expenses

. No trustees were paid (2023: nil) for travel, subsistence and other charity expenses in the financial year.

  1. STAFF COSTS

| |

==> picture [406 x 140] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2024|2023| |£|£| |Wages and|salaries|526,185|455,167| |Social|security costs|37,026|31,214| |Other pension|costs|13,963|11,663| |577,174|498,044| |The average|monthly|number of employees|during|the|year was|as follows:| |2024|2023| |Engaged|on|charitable|activities|32|30|

----- End of picture text -----

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ADRENALINE ALLEY

,

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024

41. STAFF COSTS - continued

The number of employees whose employee benefits (excluding employer pension costs) exceeded ; £60,000 was:

2024 2023
£60,001 - £70,000 1 1
£70,001 - £80,000 1 1
2 2
12. COMPARATIVES FORTHE STATEMENTOF OF FINANCIALACTIVITIES
Unrestricted
funds		 Restricted
funds		 Total
funds
£ £ £
INCOMEAND ENDOWMENTS FROM
Donations and legacies 54,100 61,998 116,098
Charitable activities
Charitable activities 890,008 - 890,008
Investment income 54,387 - 54,387
Other income 13,260 - 13,260
Total 1,011,755 61,998 1,073,753
EXPENDITURE ON
Charitable activities
Charitable activities 939,383 120,097 1,059,480
Supportcosts - > -
Total 939,383 120,097 1,059,480
NETINCOME/(EXPENDITURE) 72,372 (58,099) 14,273
RECONCILIATION OF FUNDS .
Total funds broughtforward 1,106,418 978,209 2,084,627
TOTALFUNDSCARRIEDFORWARD 1,178,790 920,110 2,098,900

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ADRENALINE ALLEY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024

13. INTANGIBLE FIXED ASSETS

Computer
software
£
COST
Additions 140,396
NETBOOKVALUE :
At 31 March 2024 140,396
At 31 March 2023 -
14. TANGIBLE FIXEDASSETS
Freehold
property		 Piantand
machinery		 Totals
£ £ £
COST
At1 April 2023
Additions		 3,306,964
15,143		 519,866
116,296		 3,826,830
131,439
At31 March2024 3,322,107 636,162 3,958,269
DEPRECIATION
At1 April2023 1,084,554 378,677 1,463,231
Charge foryear 108,896 58,218 167,114
At31 March 2024 1,193,450 436,895 1,630,345
NETBOOKVALUE
At31 March 2024 2,128,657 199,267 2,327,924
At 31 March 2023 2,222,410 141,189 2,363,599
15. STOCKS
2024 2023
£ £
Finished goods . 16,470 18,011
16. DEBTORS: AMOUNTS FALLING DUEWITHIN ONEYEAR
, 2024 2023
£ £
Tradedebtors 14,862 7,666
Other debtors 12,374 10,752
Prepayments and accrued income 26,236 _ 11,128
53,472 29,546

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ADRENALINE ALLEY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONEYEAR
; 2024 2023
£ £
Bank loans and overdrafts (see note 19) 20,195 20,538
Trade creditors 71,787 42,069
Social securityand othertaxes 8,978 9,896
VAT 35,551 27,372
Other creditors 3,030 347
Accruals and deferred income 76,639 16,764
216,180 116,986
Included within accruals and deferred income is £46,083 (2023: £6,624) for deferred income
relating
to private hire, training, programmes and sponsorship invoiced in advance for post yearend.
18. CREDITORS: AMOUNTS FALLING DUEAFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans (see note 19) 671,435 690,350
.
19. LOANS
An analysis ofthe maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one yearon demand:
Bank loans 20,195 20,538
Amounts falling due between twoand five years:
Bank loans - 2-5 years 100,764 99,458
Amounts falling due in more than five years:
Repayable by instalmenits:
Bank loansmore5 yrby instal 570,671 590,892
20. LEASING AGREEMENTS .

Included within accruals and deferred income is £46,083 (2023: £6,624) for deferred income relating to private hire, training, programmes and sponsorship invoiced in advance for post year end.

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024 2023
£ £
Within one year 3,160 2,240
Between one and five years 5,980 1,448
9,140 3,688

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ADRENALINE ALLEY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024

21. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023 £ £ : Bank loans 691,630 710,888

The bank borrowings are secured bya first legal charge over the freehold land and buildings and fixed and floating charges over all current and further assets of the charitable company.

22. PROVISIONS FOR LIABILITIES

2024 2023 £ £ Provisions 3,329 3,699

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ADRENALINE ALLEY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024

;

23. MOVEMENT IN FUNDS
Net Transfers
At 1/4/23
£		 movement
infunds
£		 between
funds
£		 At
31/3/24
£
Unrestricted funds
General fund - (11,410) 11,410 -
Skate Parkimprovements fund 803,790 4 (11,103) 792,688 ©
Contingencyfund 350,000 - - 350,000
John Chard-Young Legacy Fund 25,000 (25,000) - -
1,178,790 (36,409) 307 1,142,688
Restricted funds
Northamptonshire County Council
Wooden Spoon		 _ 7,936
3,366		 (1,650)
(700)		 -
-		 6,286
2,666
Notts. County Council 721 (150) - 571
University ofNorthampton 914 (190) - 724
High Sheriff 239 (50) - 189
WREN
Lottery funding		 36,838
16,849		 (6,130)
(1,475)		 -
-		 30,708
15,374
Northamptonshire Enterprises Limited 15,910 (3,308) - 12,602
Skatehut 34,865 (4,000) - 30,865
Northamptonshire Community
Foundation 23,462 (2,722) - 20,740
Ashley Pover - Photographic studio 7,853 (1,038) - 6,815
Power to change 326,312 (19,871) - 306,441
Concrete Plaza 44,554 (4,051) - 40,503
Innovate Northamptonshire
Major Growth Investment Grant		 12,575
14,486		 (838)
(966)		 -
-		 11,737
13,520
BMX project— Places to Ride 302,333 (20,103) - 282,230
Facial Recognition Software 13,271 (3,669) - 9,602
Digital Project 31,385 - - 31,385
NCC- Cecil Pettit Fund 3,747 (1,249) - 2,498
Sport England - Membership System 20,014 - - 20,014
NNC - Well Northants Community
Funding
Active in Motion		 2,480
-		 (2,480)
65,096		 -
-		 -
65,096
Energy Resilience Fund - 307 (307) -
920,110 (9,237 ) (307) 910,566
TOTALFUNDS 2,098,900 (45,646) - 2,053,254

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ADRENALINE ALLEY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

23. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

==> picture [411 x 422] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Incoming|Resources|Movement| |.|resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|1,151,615|(1,163,025)|(11,410)| |Skate|Park improvements|fund|1|-|1| |John|Chard-Young|Legacy|Fund|:|-|(25,000)|(25,000)| |1,151,616|(1,188,025|)|(36,409)| |Restricted|funds| |Northamptonshire|County|Council|-|(1,650)|(1,650)| |Wooden|Spoon|-|(700)|(700)| |Notts.|County|Council|-|(150)|(150)| |University|of Northampton|-|(190)|(190)| |High|Sheriff|-|(50)|(50)| |WREN|-|(6,130)|(6,130)| |Lottery funding|-|(1,475)|(1,475)| |Northamptonshire|Enterprises|Limited|-|(3,308)|(3,308)| |Skatehut|-|(4,000)|(4,000)| |Northamptonshire|Community| |Foundation|-|(2,722)|(2,722)| |Ashley|Pover|-|Photographic|studio|-|(1,038)|(1,038)| |Power to|change|-|(19,871)|(19,871)| |Concrete|Plaza|-|(4,051)|(4,051)| |Innovate|Northamptonshire|-|(838)|(838)| |Major Growth|Investment Grant|-|(966)|(966)| |BMX|project —|Places|to|Ride|-|(20,103)|(20,103)| |Facial|Recognition|Software|-|(3,669)|(3,669)| |Holiday|Activity|and|Food|Programme|15,040|(15,040)|-| |NCC-|Cecil|Pettit|Fund|-|(1,249)|(1,249)| |NNC|- Well|Northants|Community| |Funding|-|(2,480)|(2,480)| |Active|in|Motion|106,965|(41,869)|65,096| |Coronation|Event|1,500|(1,500)|-| |Energy|Resilience|Fund|1,783|(1,476)|307| |125,288|(134,525)|(9,237)| |TOTAL FUNDS|1,276,904|(1,322,550)|(45,646)|

----- End of picture text -----

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ADRENALINE ALLEY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024

23. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
At 1/4/22 movement
in funds		 between
funds		 At
31/3/23
£ £ £ £
Unrestricted funds
General fund - 72,372 (72,372) -
Skate Park improvements fund 831,418 - (27,628) 803,790
Contingency fund 250,000 - 100,000 350,000
John Chard-Young Legacy Fund 25,000 - - 25,000
1,106,418 72,372 - 1,178,790
Restricted funds
Northamptonshire County Council 9,586 (1,650) - 7,936
Wooden Spoon 4,066 (700) - 3,366
Notts. County Council 871 (150) - 721
University ofNorthampton 1,104 (190) - 914
High Sheriff 289 (50) - 239
WREN
.		 42,976 (6,138) - 36,838
Lottery funding 8,453 8,396 - 16,849
Northamptonshire Enterprises Limited 19,218 (3,308) - 15,910
Skatehut 38,865 (4,000) - 34,865
Northamptonshire Community
Foundation 26,218 (2,756) - 23,462
Ashiey Pover - Photographic studio 8,911 (1,058) _- 7,853
Power to change 346,259 (19,947) - 326,312
Concrete Plaza 48,605 (4,051) - 44,554
Innovate Northamptonshire 13,413 (838) - 12,575
MajorGrowth Investment Grant 15,452 (966) - 14,486
BMX project— Places to Ride 321,229 (18,896) -
Facial Recognition Software 17,694 (4,423) - 13,271
Digital Project 55,000 (23,615) - 31,385
NCC- Cecil PettitFund - 3,747 - 3,747
Sport England - Membership System - 20,014 - 20,014
NNC - Well Northants Community
Funding - 2,480 - 2,480
978,209 (58,099 ) - 920,110
TOTAL FUNDS . 2,084,627 14,273 - 2,098,900

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a . :

ADRENALINE ALLEY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024

23. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

==> picture [411 x 379] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|1,011,755|(939,383)|72,372| |Restricted|funds| |Northamptonshire|County|Council|-|(1,650)|(1,650)| |Wooden|Spoon|-|(700)|(700)| |Notts.|County|Council|-|(150)|(150)| |University|of Northampton|-|(190)|(190)| |High|Sheriff|-|(50)|(50)| |WREN|-|(6,138)|(6,138)| |Lottery|funding|9,955|(1,559)|8,396| |Northamptonshire|Enterprises|Limited|-|(3,308)|(3,308)| |Skatehut|-|(4,000)|(4,000)| |Northamptonshire|Community| |Foundation|-|(2,756)|(2,756)| |Ashley|Pover|-|Photographic|studio|-|(1,058)|(1,058)| |Power to change|-|(19,947)|(19,947)| |Concrete|Plaza|-|(4,051)|(4,051)| |Innovate|Northamptonshire|-|(838)|(838)| |Major|Growth|Investment|Grant|-|(966)|(966)| |BMX|project — Places|to|Ride|-|(18,896|)|(18,896)| |Facial|Recognition|Software|-|(4,423)|(4,423)| |Holiday|Activity and|Food|Programme|19,567|(19,567)|-| |Digital|Project|-|(23,615)|(23,615)| |NCC|-|Cecil|Pettit|Fund|4,996|(1,249)|3,747| |Sport|England|-|Membership|System|25,000|(4,986)|20,014| |NNC|-|Weil|Northants|Community| |Funding|2,480|-|2,480| |61,998|(120,097)|(58,099)| |TOTAL FUNDS|1,073,753|(1,059,480)|14,273|

----- End of picture text -----

The following funds relate to capital grants applied to the creation of fixed assets for use in the chanity's activities: ; - Northamptonshire County Council - Wooden Spoon :

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ADRENALINE ALLEY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024

23. MOVEMENT IN FUNDS - continued

|

Other funds:

The Olympics Celebration was funding to throw a celebration event for the returning medallists from the Olympics who trained at Adrenaline Alley .

The Holiday Activity and Food Programme funding was to provide places at school holiday camps for a certain number of children.

The NNC - Well Northants Community Funding was to provide transport and sessions for residents of Kingswood and Hazel Leys.

The NCC - Cecil Pettit Fund was to start a new 2 weekly adaptive skating/riding and wheelchair Motocross (WCMX) training club for people with disabilities to develop their skills.

  1. RELATED PARTY DISCLOSURES

During the year S.T. Holford Plumbing & Heating Ltd, of which Trustee S Holford is a Director, invoiced £836 for the provision of plumbing services (2023: Enil). As at the year end a balance of £nil was owing to S.T. Holford Plumbing & Heating Services Ltd (2023: Enil).

During the year Positive Places Ltd, of which Trustee N Bolton is a Director, invoiced £3,200 for the provision of professional services in respect of planning applications (2023: Enil). As at the year end a balances of £3,200 was owing to Positive Places Ltd.

During the year trustee J Caine was paid £200 in respect of counselling services provided (2023: Enil). As at the year end a balance of £nil was owing to J Caine (2023: Enil).

  1. ULTIMATE CONTROLLING PARTY

The Trustees consider that there is no ultimate controlling party.

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