REGlSfERED COMPANY NUMBER: 01534697 lE￿Ia￿d and Wale51 REGISTERED CHARITY NUMBER: 1121161 REPORT OFTHE TRUSTEES AND FINANaAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 BLACKWELLADVENTURE J W Hlnks LLP Chartered Accountants and Statutory Audltors 19 HiBhfield Road Ed8baston 8lrrnSngham B15 38H BLACKWELLADVENTURE copirENTS OFTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2023 P•y Report ofthg Truit••% I to 12 R•port ofth• Ind•p•nd•ntAudStors 13 to 16 Statement olFln•n¢l•l Artl¥kl•J 17 B•l•nc• Sh•rt 18 C4th Flow 5t•tém•nt 19 Notttto th• C•¥h Flow Stat•m•nt 20 Not•1 fo th• FIMn¢knl St•tem•nts 21 To 37 BL4CKWELL ADVENTURE IREGisfERED NUMBER.. 015346971 REPORT OF THE TRUSTEES FOR THE YEAR ENDe0 31 DECEMBER 2023 The Trustees present ihelr annual report together wlth the audlted flnanclal statements of the company for the year I January 2023 to 31 December 2023. Introdurtlon A hl8h paced year for the management team wlth the bu51e5t peak se4son ever recorded, new roles created, a large list of refurbishment and infrastTUCture improvements with slgniflcant chan8es to systems and Marketing 5trate8V. The realSsatlon of our second vlllage of hlghly Insulated five bedded'pod5' wlth è dedlcated central caterlng and relaxatk)n building marks a rnalor mlle5tone in our lon8-term strate8lc plan to expand four season atcommodatSon and revenue. Now wlth close to 200 beds at our Blackwell Court centre we are able to offer youn8 people outdoor actlvStles all yea round wlth comfortable accommodatlon suStable lor winter conditions and In-house caterlng If requlred. Strate8lc attentltsn to our unlque and characterful Plkes Pool centre ha3 focu5sed on movSn8 It to a stand-alone dest5natlon rather than a satelllte of our very successful 81?ckwell Court centre. Historlcally Plkes Pool has contributed between 3% and 6% of total revenue5 and that will be improved with a serles of measures and Investments Includin8 a dedlcated on-slte team, a new ￿CePtIOn buildln8, a 40-bed tented village and more actlvltles Including the ever-popular Laser Ta8. The flnanclal report below shows Strong growth of tradin8 revenues Ithat 55 omlttlnK grant intomel a8aln thls year h?vln8 reached a 30% Increase over 2019. the last lull year pre-CoYSd. The receni tsunaml ol Snflatlon has dlstorted cost and revenue comparlsons so In real terms luslni 2019 CPIHI thls does represent a very creditable IO% Increase wlth more than 21.000 people throu8h ourcentres In the year. The Trustèts onte a8&ln reflect that the man8gement ttam a£qult thern5elves well 5howlN8 passlon and enthusl?sllc ownership for thelr respon51bllltles and the or8anlsatlon. They dlsptsy confldence and commltment to the plans f¢r 2024. Our thanks are extended to all of them lor a fantastlc turn-around p05t CovSd and unwaverln8 P051tlvity, P.R Fennell Cha5r Page I BLACKWELL ADVENTURE (REGISTERED NUMBER.. 015346971 REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 310ECEM8ER 2023 OBJEcnvE5 A14D AcnviTIES Charltable obledlves To provlde both rèsldèntial and day vlslt outdoor adventure a￿l¥￿tIeS for The Scouts, Girl Guidlng and other voluntary youth 8roups. To support the provision of educational and recreational outdoor actlvltles lor schools and college5. To support team development for other orynisation5. VI￿0￿ By prDvldln8 a varlety of hl8h-quallty outdoor adventure actI￿tIeS where rlsk Is controlled and managed as far as Is reasonably practlcable, we seek tg challen8e each indlvldual. re8ardless of background, clrcum5tances, or capabllltvi wlth new and fun experSence5 that Ènrlch thelr Ilves. We look to exceed our ￿$stor5, e¥pectatlons by provldln8 a great experlence through a motlvated. enthusiastic and skllled team of staff and volunteers each commltted to ourvalues. Alms The aim of The Scout As50clatlon, of whlch wè are part, Is to actively en8a8e and support young yople In ihelr personal deveh)pment, empowering thèm to make a p051tive contrlbutlon to society. We blm to contlnuously develop our provislon of outdooradventure actlvltle5 at Blackwell Court and Plkes Pool by., IncreasSnB our accommodatlon offerlTh8 chlelly to 8row our low season revenue Achle¥ln8 conslstent annual S￿rplUseS to resource development ol our centres IncreasSn8 ￿VenUeS from team bulldln8 and coiporate events for adults to help defray costs Havin8 modern, attractlve. energy efflclent and varled facllltles acro55 both centrès EncouraBlng all staff and volunteers In thelr personal development, to do thelr best. And we alm to piovlde practlcal 5UPPOrt to The Scout Associatlon- County of Blrmin8ham. Our culturo Ilvos ourvalues These values 8uide our ch8ritles' dec151on5. behaviours, communScatlon. and attlons. We are friendly and open. We are honest, and we listen. We hold ourselve5 tts the highest standards. We respect individuals. We are 5UPPOrtlve and Incluslve. We love developin8 people We are enthu51a5tlcally commltted to dellvering safe. fun and memorable experlences for all. ioc8tlons and propertles The locatSons, Blackwell Court and Pikes Pool, are approxirnately 50 acres each located in North Worcestershir¢just J few minutes from Junttlon l of the M42 and twelve miles from the centre of Bimiingham. They are owned by the Scout Assoclation County of Birmingham and are held in trust by the Scout A550ciation Trust Corporation. The ex£luslve use. rnaSntenance, development of and revenues Iromthese activity centre5 is fully delegated to Blackwell Adventure. Page 2 BLACKWELLADVENTURE IREGISTERED NUMBER: OIS346971 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 OBJEcfivES AND ACTIVITIES Pronclpal 3ctlvltl¢s The Trustees acknowledge the Charlty Cornrni55ion'$ 8eneral 8uidance on public benefit when reviewin8 the charlty's objective5 and in plannlng activitie5. refurbishment and Snvestments. Consideration is siven to how these contrlbute to the haritable objectives wlth5n the scope of our recently refreshed vision. aims and values set out above. A formidable èffort over half of the yeai has successfully Introduced a new customer relai5onshlp and bookSng 5VStem provlding streamlined offlce processe5 we are typlcally handlin8 450 bookln8s at anyone time. Thls has 5mproved customer servlce and provided a catslyst lor new roles and responslbllltles. The depth and var5ety of our actlvlty staff is a major strength and predlcated on 8ood recrultment process. excellent tralnln8 and employment condltlons. We were finallsts In the Worcestershire ApprentSceshlp Award5. welcomed overseas gap year students agaln and Improved on-slte accommodailon for Ilve-ln staff. Actlvlty fa¢llltles contSnue to 8row wlth, amon85t other projects, the popular Laser Ta8 replicated at another locatlon and the ilp wlres reconfl8ured. The Trustees decided that, desplre hl8h runnlng costs. the swlmming pool would remaln open as an Important faeility In the community and a new elliclent heatin8 and Illtratlon plant was Installed. The facllkles team has grown in number thls yeor and arranged a lull pro8rarnme of varlous refurblshments alon8slde the desi8n and Installatlon of a 70-bed podded villa8e complete with a 90 square metre caterlnB and relaxation bulldln8. Not without challenges thi5 18-month long development projert to create the York5 Wood Vllla8e has been funded by 8raTht5 and the Ilnancial surplus Irorn 2022. It has opened on ilme and Is very well bo¢ked lor 2024 wlth the 5¢rate8ic advanta8e tsl b005ted low season revenues ahead. 7he M?nor House has enjoyed mlnor Improvements and Interlor decorètlng thou8h some baslc5 such 45 poor Insulaiion, roof repaSis, roitln8 wlndow frimes and bathrooms all requlre attent5on and Investment. Project5 have been evaluated and commlssloned wlth some grant fundlng Identllied Includlng a generous £120,O¢X) recelved from The Scout Association County of Blrrnlngham and a current bld Is In liThal stage for £61,000 from the National Lottery'Reachln8 Key Communitles Fund, Therels rnore work to do. Energy costs have been a concern thls year ihou8h re8rettably the local plann5n8 authority has refused a solar larm proposal towards whlch we were offered a sliable grant. A new transformer and mains cabllng has been Sn5ts11ed adlaeent to the entrance lodge to provide power to the new Village and adjacent campgrounds. Slte security has been Smproved w5th mole Cm and Ilft up bairier entrance control. Shapln8 th• future We have alway5 been commltted to helping shape the luture of the outdoor learnln8 and adventure sector. Our current CEO was elected natlonal chair of the Assoclatlon of Head5 of Outdoor Education Centres IAHOECI in November 2021 and work5 wlth a wlde variety of sector bodles and governrnernt department5 to benefit both the sector and the beneflclarles of outdoor learning as a whole. In 2022 and 2023 we effectlvely donated approxlmately IS days of our CEO'S tirne to AHOEC, whSch we consider tlme well Spent as AHOEC argue5 for equltable acTr5S to outdoor learnln8 for youn8 people in the Unlted Kingdom. Insurantes Blackwell Adventure maintains CoMp￿benSIve insurances to cover potential claims In respect of insurable rfsks. Page 3 BLACKWELLADVENTURE IRÉGISTEREO NUMBER: 015346971 REPORT OF THE TRUSTEE5 FOR THE YEAR ENDEO 31 DECEMBER 2023 STrATEGIC REPORT Flnanclal posltlon Cash Flow History £000 5(X) 3W io) 11(M)) 201Y 2U2 2L)21 2022 2023 Grants 31 Jjo 1(4 165 OperJiinx. 66 13201 1641 50 14 1891 114DI I￿2} Financing w Investing w Operatiiia ffj Graiits There has bten a net outflow of cash thls year of £163k. Cash recelpts from grants and operolin8 actlvltles are broadlv slmilar to last year. The nei OLrtflow comes from the 518niflcant investment in fixed assts In the year as some £260k has been spent in devekjplng the new York5 Wood Vllla8e The trustees are confident that this new facility which extends the a£commodation optlon5 available at &lackwell Adventure wlll be a 6reat asset future years. The first bookin8 lor the vllla8e has already taken place and wa5 very successful. Yorks Wood Vill38e wa5 a planned Investmtnt utilising some of the surpluses built up in earller years lor the furtherance of our strate8lc chafltable oblectlves. Funds were also spent on other improvements to the 6eneral asset base at Blackwell as In earller years. The cash balance after thls Investment in facilltle5 is £330k which provide5 a sound base for the lutuie. Page 4 BLACKWELL ADVENTIJRE IREfjI￿ErtED NUMBER: 015346971 REPORT OFTHe TrUSTEES FOR THE VEAR ENDED 31 DECEMBER 2023 Blackwell Adventure Balance Sheet history £000 1,2tK> 8C 6(K) 4(K) 2W 12001 14001 2019 2020 2021 2022 2023 CreditOTS 11271 226 1751 269 12621 493 132 11 574 12691 Current assets Fixed assets 3()8 325 411 430 644 Fixed assets • Current a55ets w Creditors Net Asset5 have Increased by £60k in the ywr. Fixed assets have increased slgnlflcantly reflectlng the total Investment5 made durlng the yearof £309k. The policy is to malntaln all assets Used In the buslness In a good state of repalr. The trustees have reviewed the assets held at the year*nd considering forecasts lor future bookln85 and are satisfleij that there Is no impairment to the values ai which the assets are carried in the accounts. The reduction In current assets reflects in the lower bank balancè of £330k carried fornard 5nto 2024 after the flxEd a55et fundlng. There Is a reductlon In credltor5 at thls year-end because of a lower VAT liability. repayments of the Covid related bounce back loan and a small reductlon In deposits recelyed. Whilst bookin8s ft>r 2024 are 5tron8, we have noticed a 511ghr Increase In the tlme iaken for the payment ol dep051ts. Page 5 BLACKWELL ADVENTURE (REGISTERED NUMBER: 015346971 REPORTOF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Blackwell Adventure Comparison revenues and expenditure £000 1,6 1,4( 1,2(X) I,o(¥J 8LI) 6¢XI 4( 2L 2019 2020 2021 2022 2023 Giants and donations 31 4( 330 164 165 Income 961 239 556 1,143 1,267 1,271 1,376 Expenditure 923 533 763 Thls cornpar150n of revenues and expendltures shows that In the past two years, wlth recovery from COVID. that ? major part of thè revenue fundin8 our actlvltle5 Corn¢5 from tradlng income. Trading Intome for 2023 at £1271k Is at reEord levels and expected to Increase as lrnprovements to the accommodatlon assets base continue. Grants continue to make 8 518nificant contrlbutlon to the fundln8. The principal 8rant recelved In 2023 was £120k from the Scout Association County of Birmin8ham to fund a range o15nfrastrucrure projecis. Some of this was Spent In 2023 with the rem4inder due to be spent in 2024. Grants were also recelved Irom: DCMS Youth Fund- £9k Contributions tOW3rd5 York5 Wood Villa8e developrnent frorn.. Garfleld Weston Foundation- £25k Roger & Dou8las Turner Charitable Tru5t- £IOk Expendlture increased durin8 2023 reflectin8 the increased leve15 of activity at ihe centre and Blso the hlgh levels of inlation in the year. The trustee5 have noted the Impact of inflatK)n, and 2024 bud8ets reflect this. PBge 6 BLACKWELL ADVENTURE (REGISTERED NUMBER.. 015346971 REPORT OFTHE TRU5tEES FOR ThE VEAR ENDED 31 DECEMBER 2023 STrATEGIC REPORT Flnanclal revlew Reserve5 poIScv The Trustees, Reserves Policy provides for support of the day-to-day runnin8 of the charlty's activities. future evelopments and allows for rlsk. General funds and loan facllltles are retained as operational reserves to support the day-to-day actlvltle5. Funds rece￿ed lor speclfSc purposes are cate8orlsed between capltal prolects and those of a revenue nature. They are credlted to restrlcted reserves as recelved and the a550clated expendlturè or Costs char8ed a8alnst them as Incurred. The Trustees rÈgularly rèv5èw these to ensure they are utillsed for the purpose for whlch they were glven and in a timelv manner. The level ol operailonal ￿serveS is consldered annually and in conjunct5on wlth the annual buslne5s plan. A new appro¥h to reserve5 has been developed thls year. Blackwell Adventure Is a subsidiary company of the kout Assoclatlon County ol Birmlngharn and work closely with them in determlnlThq investment dec55Ions lor the sftes at Blackwell Court and Plke5 Pool. Sl8nifi£ant reserves are held in the parent charity ¥ccounts and It Is no lon6er consldered necessary to dupllcate these in Blackwell Adventure. In the light of thls the trustee5 have recon51dered the level Of reserves that should be set as a target for the Blackwéll Adventure. We conslder that takln8 account of deposlts held toward5 future booklngs, sorne Ilexlbility in staffln8 levels nd buslness Interruptlon Insurance that £50k Is adequate for operatlonjl Is5ue5. A further £50k Is to be held lor the maSntenance o151te Infrastructure. Thls wlll 8l¥e £IOOk In totol. At the year end, the charSty held no free reserves. The 2022 reserves were £252.000 followln8 the prevlou5 pollcy. Th15 Sl8nlflcant reductlon arSse5 from the malor Investment In the Yor15 Wood Village development largely funded Irtsm Blackwell Adventures own resources. The trustees will seek to generate surpluses In future year5 to brlng reserves bJck to the desired level. Strate8ic reserves whlch may be drawn down for major capltal expendlture on bulldlng development5 are held by The Scout Associatlon County of Birmlngham who own the lanil and legacy bulldin8S. Golng Concern The Trustees have a reasonable expectation that the company has adequate resouices to conllnue in operational existence for the foreseeable future and are pleased to report a net surplus of £60k for the year 4nd an increase In fixed asset5 ernployed ol E213k after depreclation. Year-end cash balances are strong at £330k althou8h reduced from 2022 levels due to the significant Investment In fixed assets in the year. A cash flow forecast to the end of 2024 has been prepared wh5ch shows a small tr8din8105S though cash posltlve after the add back of non-cash dèpreciatlon. A reduttlon in cash balance5 to £201k after capltal expendSture of £215k is forècast based principally on further Improvernent5 to the Manor Flouse and the provision of a new adult toilet block. Grant funding provided by the Scout Association County of Birmln8ham In 2023 and the Natfjonal lottery wlll fund these. 7hi5 level of cash at the year end. although lower than recent years, 15 5tlll above p￿{ov5d levels., that 15 2019 and earlier. At the tirne of approvln8 thls report thè prospects for 2024 look very g(K)d with fSrm booklngs to date covering 87% of the full year forecast. For these reasons, the charity conrSnues to adopt the 8oln8 concern basis in preporing the financial statements. Further details can be found in the kcountin8 Pollcles. Page 7 BLACThIELL ADVEKfuRE IREGISTERED NUMBER.. 015346971 REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRucfuRE. GOVERNANCE AND MANAGEMENT Structurej governance and management a. Constltutlon The or8ani5ation 15 established under the Mernorandum of Assotiation that sets out the oblects and powers ol the charitable cornpany and is 8overned under the Articles of Assoclatlon. In the event of the Company bèing wound up, the members are required to contribute an amount not exceeding £1. Voting members of The Scout As50clation County of BlrfflSn8ham Trustee Board are, by vlrtue of ihelr role. Member5 01 Blackwell Adventure and are entltled to vote at 8eneral meetin8S. b. Method5 01 4ppolntment or elertlon of Trustèes The rnana8ernÈnt of the company 55 the responsibllrty of the Trustees who are elected or co-ooed under the terms of the Trust deed. The rules for appolntlng ond the rotatln8 tenure of the eoard Mernbers (Trustees) are set out In the Memorandum and ArtScles DI A5soclatlon. All Trustees are appointed lor a term olthree years. after whlch they are ell8lble for re-elettioTh. It Is acknowledged that the skills and lived experlen£es of the Trustees have a direct bearin8 on the Board's capabillty to undertake thèir breadth of responsSbSllties. Therefore, when looking to appolnt a newTrustee conslderatlon Is 8lven tts thè ski115 required, conslderln8 the requlred skllls of any Specific role and a150 to ensure the aggregate s*llls and experlences are covered and thls was Snformed by the outcome from a skllls audlt undertaken In 2020, whlch Is revlewed on a three yearly basis. The Scout Assoclatlon County of Blrmlngham also has the optlon of nomlnatln8 two Trustees to the Board. As of December 2023, the nomlnated Tru5tee5 were Steven Thomas (County Commlsslonerl and Dave Allen (County Chalrrnanl. c, Board •￿Ur￿￿(e Day-to-day managemenr of Blackwell Adventure Is the responsiblltty ol the Chlef Executive Officer and the senlor managemeni team. Re6ulaT meetlngs of the Chalr and CEO take place and the Board monitors pro8re55 and performante based on regular ￿portS prtsentèd by the CEO relatln8 to all aspects of the charlty. Thls enables the Board to revlew pro8re55 Jgain5t tar8ets, conslder Strategy, pollty, and to Identlfy any rlsks whl¢h need to be addressed. There is an annual revlew meeting wlth the 8¢ard #nd the mana8ernent team. Inductlon •nd tr•lnln8 of new tru5tee5 A structured Induction is provlded to new Board Member5 and a comprehenslve 8oard Flle Is made avaSlable. As of December 2023. the malorlty of Trustees were members of the Scout A5w¢latlon, and the cornp051tion of the Board reflects a wlde ran8e of commercial and professional experIen￿, Key manogement rtmuneratTon Key managèment salarles are benchrnarke¢J against simllar positSon5 wf(hin the Attivlty Centre industry and decislons on any chanBe5 are made by the Board with recommendatlons from the CEO. Page 8 BLACKWELLADVENTURE (REGISTERED NUMBER: 015346971 REPORT OF THE TRUSTEES FOR THE YEAR ENOED 310ECEMBER 2023 STRucfuRE, GOVERNANCE AND MANAGEMENT Chorlly relatlon$hlps Blackwell Adventure. The Scout Association- County of Birmingham (Countyl, fle8lstered charity number 524566, and the Scout A550ciation, ReBlStered charity number 306101. are Interdependent charities registered in En8land and Wales with similar oblects. The County and Its Dlstrlcts, Groups and SectSons are frequent users of the campin& actlvity and meetlng facllltles that Blackwell Adventure offer and enjoy preferenti81 rates. R55k monagement The Company takes a robust approach to rlsk rnaThagement and across the followln8 flsk categorles the Trustees have assessed and quantlfled those rlsk5 to which the Charlty Is exposed,. have Idenilfled relevant control rnea5ures and m5tl8atlng attlons to reduce the rlsks. and regularly revlew them. Governance Operatlonal r15k F5nance rlsk Environmental and external rfsk Law and regulatlon complljnce risk Reco8nls5n8 the nature of cwjr core business It Is acknowledged that sl8nS1icant rlsls relate to Health and Safety and safe8uardin8 of chlldren and youn8 people and outllned below are ihe actlon5 In place to mltlgate these rlsks. Health ¥nd satetv Therè 5s a comprehenslve Health and Safety pollcy In place, whlch Is strlctly monltored and adhered io. Blackwell Adventure provldes a range of adventure actlvltles In a safe envlronment, workin8 wlthln the relevant regulations with sultably ouallfled Instructors. These re8ulation$ come from two sources.. Hèakh and Safety le8isl4tion and actlvoty regulatlons. 8roms8rove Envlronmental Health Department Is ihe enforclng authorlty th•t checks rlsk assessment5 and operatin8 procedures In respect of thè facllltles, food safety and all other general safety issues. Actlvlty r¢gylatl 81ackwell Adventure Is Ilcensed by the Adventurou5 Activities Licensln8 Servlce IAALSI (No. L 12606IR14741 that Inspert5 ¢tivlty centres and other actlvlty providers on behalf of the Health and ￿fetY Executlve, Each ol the activities is run elther to the standard set by the Natlonal Governlng 8ody. where available, or expertlse 1$ 50U8ht from an approprlatelv quallfled external consultant. The Trustees continue to authorlse expenditure on malntalnln8 and Smproving facillties on both sltes to ensure that all attivltles are carrled out safely with up-to-date equipment. Pa8e 9 8LACKWELLADVENTURE (REGISTERED NUMBER: 01534697 REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 DECEMBER 2023 STRucfuAE. GOVERNANCE AND MANAGEMENT SafeBuardlnÈ The Ch¥rlty reco8nlses and acknowled8es the duty of care placed upon the organisation to safe8uard and promote the welfare of children, youn8 people and adults at risk and 15 committed to ensuring safeBuardin8 practice reflects stètLrtory respgnsibilities, 8overnment Buidance and complies with best practice. There Is a comprehensive ￿feguardIng Policy in place whlch Is revlewed on an annual basss, alongslde a revlew of practice. Strlngent checks on stall and volunteers working on Its behalf Including enhanced DBS checks are carried 0￿. bgth at the polnt of recruitment and as an on-Boln8 proce55 of monitorlng and there Is a robust prograrnme ol SaI￿uardIng traSnln8 In place In associatioTh wlth BlrmlThgham Clty Council Social Servlces DepartmenL both as part of Inductlon and lor re8ular update5 acr055 the staff tèam. Insur¥Thces Blackwell Adventur• malntalns comprehenslve Insurances to cover potent5al claSms In respect ol In5urable risks. P8ge 10 BLACKWELLADVEMfVRE IREGISTERED NUMBER: 015346971 REPORT OF THE TRUSTEES Foft TAÉ YEAR ENOED 31 DECEMBER 2029 REFERENCE AND ADMIN15niAmiE DETAILS Re8lslered Company number 01534697 IEngland and Walesl Re85slered Ch•rlty number 1121161 Reg4stered gfflc Blackwell Court A8more Road Blackwell 8romsgrove Worcestershlre B60 IPX Trusta•s D A Allen P R Fennell A D Harver50n K K W Hemmlngs A K Lloyd A G Spink5 L Taylor-stupplé S G Thomas Company S¢crit•ry A G Splnks Audltor% IWHlnksLLP Chartered Accountants and Statutory Audltors 19 Hlghfleld Road Edgb35ton Birmin8hèm BIS 3BH Bankers 8arclays Bonk PLC Lelcester LE87 28B Chlel Ey•¢utlw Ollker L) Squlre TRUSTEES. RESPONSIBILifi STATEMENT The trustee5 Iwho are a150 the directors of BlackNJell Adventure for the purposes of cOm￿n¥ lawl are responsSble for preparin8 the Report of the Trustee5 and the financial statemenls In accordance with applicable law and Vnlted Klngdom Accountin8 Standards lijnited KinBdom Generally Accepted Accounting Practicel. Page 11 BLACKWaLADVEP¥fURE IREGISTEAED NUMBER: 015345971 RepoRTOFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMOER 2¢ll3 TRUSTEES, RESPONSIBILITY STATEMENT- contlhued Company law requires the tll￿tees to prepare flnancial 5tJternents lor Each flnanclal ye•r whlch 8ive a true and f41r view of the state of affair5 of the charitable company and of the incomin¥ resOU￿e5 and application of rwources, Includlng the Income and expendlture. of the Char￿•ble company for that perlod, In weparlng those financlal ststement5, the trustees are requ5red to select sukable ac¢auntlng polltltt ond th•n 8pplyth¢rn wnslstently: observe thB rnethod5 •nd princlples sn the Charlty SORP.. make judgement5 and e5tlrnate5 thèt are reasonable and prudent,. prepare th• flnancial statements on the &oln8 Concern basls unless It Is Inapproprlate to presume that the charltable (ornpany wlll contlnue In buslne5S. The trustees ore re5ponslble for keepln4 propèr actountln8 records whlch dlxlose wlth re¥son4bl¢ accuracy at any tlme the flnancl)I pos5tlon of the chsrltable company and to enoble them to ensure thBt the flnanclal ststement5 comply wlth the Companles Act 2(w)6. They are 8150 responslble for sèle8u8rdln8 the assets of the ch8r5tible compaThy and hente for taklni re8son•I￿¢ steps for the preveTrtbn and detoctlon of fraud aThd othir Irregularltle$, STAIEMENT A5 TO D15CLOSVRE OF INFORMATION TO AUDITOAS So fhr as the trustee5 Ire aware, therels no rnlevBnt Informatlon la5 delned by Sectlon 418 olihe Companle5 Art 2ChJ61 of whl¢h the charltBble tompan¢$ audltors are unaware, and eKh irusree has taken 311 the steps that they ou8ht to have talen as • irustee In order to make thern aware ol any audlt Intgrmatbn and to establlsh that the chbrhable wmpanv, udltor5 are aware of that Inforrnatlon. AUDIT(IRS The audltor5, J W Hlnks LLP, wlll be proposed for re-appolntrnent atthe forthtomlni Annull General Meeiln Report of thè trustees, Incorporbtln8 a $trate8k report appmved by order of the bo•rd of irustee5, as tht compny dlrector5, on 25 March 2024 and sl8ned on the board's behalf bv.. P R Fennell-Trustee Page 12 REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF BLACKWELL ADVETrmJRE o￿TrIOn We have audited the financial staternents of Blackwell Adventure (the 'charitable company'l lor the year ended 31 December 2023 which comprlse the Statement of Finan£lal ￿tIVItIeS, rhe Balance Sheet, the Cash Flow Statement and notes to the flnancial statements, Includin8 a summary of significant accounting policies. The finantial reporting framework that ha5 been applied in their preparation Is appllcable law and UnSted Klngdom Accountlng Stsndard5 (United Kingdom Generally Accepted AccountSn8 Practice). In our opinlon the f5nanclal slatement5'. Ive a true and fair vlew of the state of thè charltable compan￿$ affalrs as at 31 December 2023 and of Its IncomlnB resources and appllcatlon of ￿sOurCes, includlng Its Income and expendlture. lor the year then ended., have been properly prepared In accordance wlth UnSted Kin8dorn Generally Accepted Accountln8 Prattlce,. and have been prepared In accordance wlth the requSrements of ihe Companles Act 2006. Oa$l$for oplnlon We conducted our audit Sn accordance wlth International Standards on AudStin8 IUKI11SAs IUKII and applicable law. Our responsibilities under those standards afe further described In the Auditors, responslbllitie5 for the aud51 of ihe flnanclal statements sertlon of our report. We ère independent of the charttable cornpany In accordance with the ethlcal requlrements that are relevant to our audlt of the financial statements In the UK, Includlng the FRC'S Ethlcal Standard. and we have fulfilled our other ethleal responslbS1itles In accordance wlth these rèquirèments. We belleve that the aud5t evldence we have obtaSned Is sulllclent and approprlate to provlde a b1515 for our oplnlon. Conclusloni r•l•tlng to 80Sn8 concern In audltln8 the flnanclal Statements, we have concluded that the tru5tees' use of thé goln8 concern b851s of Bccountln¥ In the prepafatlon of the Ilnanclal statements Is approprlate. aased on the work we have performed, we have not identifled any materiJl uncertalntles relètin8 to events or condlt10Th5 that. Indlvldually or collectlvely, may cast $18nific3nt doubt on the chèr¢table company's ablllty to continue as è 8olng concern for a perlod of at least twelve months Irorn when the financlal statements are authorlsed for Issue. Our re5ponslbillties and the responslbllltles ol the trustees with respe¢t ro 8oln8 concern are descrlbed In the relevant 5ertlons of thls report. Other Inform4tlon The tru5tee5 are re5ponslble for the other Informatlon. The other Informatlon comprlses the Informatbfi Included in the Annual Report, other than the flnanclal statements and our Report of the Independent Auditors thereon. Our oplnlon on the fTnanclal statements does not cover the other informatlon and, except to the extent otherwlse explk5tly stated in our report, we do not express any fomi of assurance concluslon thereon. In connection with our audlt of the f5nancial statements, our responslbllky 15 to read the other Inlormatlon and, ID doSnB so, consider whether the other information Is materially inconslstent with the Ilnanclal statement5 or our knowled8e obtained in the audit or otherwlse appears to be materially misstated. If we Identlfy such materSal inconslstencles or apparent material mlsstatements, we are required to determlne wh￿her thls Blves rlse to a materlal misstatement in the financlal statements themselves. 11, based on the work we have performed, we conclude that there Is a rnaterial mi5Statement of this oiher InformatSon, we are required to report that fact. We have nothin8 to report in thls re8ard. Oplnlons on other matter5 pres£rfbed by th• Companles Art 2006 In our opinion. based on the work undertaken in the course of the audlt: the informatlon glven in the Report ol the Trustees for the flnancial year for whieh the financial statements are p￿pared Is consistent wlth the financial 5tatements,' and the Report ol the Trustee5 ha5 been prepared in accordance with applicable legal requirements. Pa8e 13 REPORT OF THE INDEPENDENT AUDITORSTOTHE MEMBERS OF BLACKWELL ADVEIUURE Matters on whlch we are requlred to report by exceptlon In the light of thè knowledge and understand5ng of the chèrltable company and Sts envlronment obtained in the course of the audSt, we have not Identlfied materlal mlsstatements In the Report of the Trustees. We have nothing to report In respect of the followln8 matters where the Companies Act 2CQ6 requires us to report to you if. in our opinion.. adequate accountin8 records have not been kept ol retum5 adequate for oui audlt have not been received from brnnches not V151ted by us.. or the financial statements are not In agreement with the accounting records and retums., or certain dlsclosures of trustees, remuneratlon specllled by law are not Made,. or we have not received all the Inft>rmatlon and explanationg we requlre lor our audlt. Responslbllkles of tn15te9s As explalned more fully In thé Trusiees, Responslbiiii5es Statement, the trustee5 (who are a150 the directors of the charltable company for the purposes of company lawl are responslble for the preparation of the Ilnanclal statement5 and for beln8 5atSsfSed that they 8lve a true and falr view, and for 5u¢h internal control as the trustees determine Is necessary io enable the preparatlon of fSThanclal statement5 that are free from materlal misst8tement, whether due io fraud or error. In prèparlng the fln8nclal st&tements, the tru51ees ire responslble for assessln8 the charltable company's 8bllity to tontlnue as a 80in8 concern, dlsc1055n& a5 applicable. matter5 related to 8olnB concern and usin8 the 80Sn8 concern ba55s of accountlng unless the tru5tee> elther intend to liquldate the charitable company or to cease operatlons. or have no re&115tlc alternative but to do 50. Page 14 REPORT OF THE INDEPENDENT AUOITOR5 TO THE MEMBERS OF BLACKWELLADVENTURE Our responslbllltles for thè audlt of the finan¢l•l stat•m•nts Our objectives are to obtaln reasonable assurance about whether the financial staternents as a whole are free from material misstaternènt. whether due to fraud or error. and to Issue a Report of the Independent Audltors that includes our oplnlon. Reasonable assurance Is a hl8h level of assurance, but Is not a Euarantee that an audit conducted in accordance with ISAS IUKI will always detect a material mlsstatement when 5t exist5. Mi55tatements can arlse from fraud or error and are considered material if. indivk4ually or in the a88re8ate, they could reasonably be expected to influence the economic decisions of users raken on the basls of these financial statements. The extènt ta which our procedures ale Ca￿ble of detectln8 irregularltles, Including fraud Is detailed below.. Our assessment focussed on key laws and regulations the Charitable Company ha5 to comply wlth ènd areas If the financial statements we asse55ed as be5n8 mofe su5ceptSble to mlssiatement. These key law5 and regulatlons 5ncluded but were not Ilmlted to compllance wlth the Companles Act 21)J6, Charltles Act 2011. Charities (Protectlon and Soclal Investment) Act 2016, taxatlon le81slatlon, data protectSon, antS-brlbery and employment le8Sslatlon. We èTÈ not responslble for preventln8 Ir￿gUlarIt[eS. Our approach to detertlng Irre8ularltles included, but was not Ilmlted to, the followln8'. obtalnln8 an understandin8 of the legal and re8ulaiory framewok* appllcablt tts thè Charitable Cornpany and how the Char5table Company Is complyln8 wlih that framework, lThcludbn8 agrèèment ol Ilnancl81 statement di5c105ure3 to undèrlyln8 documentation and other evldence.. obtalnin8 an understandlng of the Charitable Ctsrnpany's control envlfonment and how the Charltable Company has applied relevant control procedures, throu8h dlscusslons wlth Trustees and other m&nè8ement and by pertormln8 walkthrou8h testlng over key areas.. . obtalnln8 an understanding of the Charltable Company's rlsk assessment proce55. Includln8 the dsk of fraud,, revlew5ng rneètlng minutes of those char8ed wlth governance throughout the year., and pérformly audlt testln8 to addre5$ the rlsk of manaBement overrlde of contro15, IDcludln8 te5tlng Journal entrfes and other adjustments lor approprtatenes5, evaluatln8 the buslness fatlonale o1518nlfT£ant transatt5ons outslde the normal course of bu5ine5s aThd reviewln8 accountlng e5tlrnates lor bla5. Wh115t wn5iderln8 how our audlt work addre￿ed the detectlon of Irre8ularlties. we also considered the likelihood ol detection based on our approach. Irregularitles #rlsing from fraud are 5nherently more difflcult to detect than those arlslThg from error. Because of the Inherent IlmltatSon5 of an audit. thère is as rfsk that we wlll not detttt all Irre8ularltles, Includlng those leadin8 to a marerial mlsstatement In the financial statements or non-compliancè wtth regulation. Thls rlsk Increase5 the more that compliante wlth a law or re8ulatlon Is removed from the events and traD5attlons reflected In ihe flnanclal Statements, as we will be less likely to become aware of In5tance5 of nonllows: 2023 2022 Wlthln one year 8etween one and flve years 11.780 22.580 11,780 34360 46.140 Page 30 continued.. BLACKWELLADVENTVRE NOTES TOTHE FINANaAL STATEMENTS. contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 MOVEMENT IN FUNDS Net movement In funds At 31.12.23 At 1.1.23 Unrestrlcted funds Unrestricted Fund 523J06 168.7041 454M12 R•strlcted fvnds Plkes Pool Development Susta5nabllSty Project Woicestelshlre LEAOER Fund Natlonal Lottery Community Fund Sport En8land 8ack to Play Funds BBC Chlldren In Need Worcestershire County Council The Scout Association- County of 81rrnln8ham Garfleld Weston Foundatlon The Roger & Douglas Tumer Charltable Trust 15.838 1,050 14.265 38,952 44,288 34,3Z8 IOA62 li,BOOI 11501 12.0371 14,8691 14.9211 19.2861 111371 14,038 12,228 34,083 39,367 2S,042 8,725 119,192 25mO 119,192 15,000 10,000 159,583 128.992 288.575 TOTAL FUNDS 682.889 60388 743.177 Page 31 continued.. BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMIER 2023 MOVEMENT IN FUNDS- contlnued Net movement In funds. Included in the above are as follow5: Incoming resources Resource5 expended Movement Sn funds Unr4sirf¢ted funds Unrestrlcted Fund 1,2n,u3 IIJ40,8871 16B,7041 Ae5trlct•d fund5 Pikes PDOI Development 5ustainJbility Project Worcestershlre LEADER Fund Natlon81 Lottery Communlty Fund Sporr England 8ack to Play Funds 8BC Chlldren In Need W9rcestershlre County Coun¢ll The Scout Assoclatlon- County of Blrmlngham Garfield Weston Fovndatlon DCMS- UK Youth Fund- Adventures Aw¥v From Home The Ro8er & Douglas Turner Charitable Trust 11.8001 11,8001 11501 12,0371 14,8691 14,9zII 19,2861 12.1371 12.0371 14.9211 19,2661 12,1371 120WQ 25000 119,192 25.OOD 9,200 19,2001 10,000 io,th)o 164 35,2081 128,992 TOTAL FUNDS 1.436 383 1376,0951 60,288 Pa8e 32 ¢ontlnued... 8LACThIELLADVENTURE NOTESTOTHE FINANCIALSTATEMENTS- rorttlnued FOR THE YEAR ENDED 31 DECEMBER 2023 MOVEMENT IN FUNDS- u>ntinu*d Comp•rati¥*s lor movement In lunds Net movement in funds At 31.12.22 At 1.1.22 Unr•Jtrlrted funds Unrèstrlcted Fund 516,113 7.193 523,306 R•strfcted funds Pikes Pool Development Sustainablllty Project Worcestershire LEADER Fund Natlonal Lottery Community Fund Sport En818nd Back ta Play Funds BBC Chlldren in Need Worcestershire County Coun¢ll 17,638 1.200 16,302 43.821 46,709 11,8001 11501 12,0371 14,8691 12.4211 34,328 10,862 15,838 1,050 14.265 38,952 44,288 34.328 10,862 125 670 33,913 159 583 TOTAL FUNDS 641,783 682,889 C¢mparatlve net movement In funds, Included in the above are as follows: Incomlng resourtes Resources expended Movement In funds Unr•strl¢t•d funds Unre5trlcted Fund 1,173,828 11,166.6351 7,193 Restilrted funth Pikes Pool Development Sustainab51ity Project Worce5tershlre LEADER Fund National Lottery Communlty Fund Sport En8land Back to Play Funds Natlonal Lottery Her5ta8e Fund B8C Chlldren In Need Worcesiershlre County Council 11.8001 11501 12,0371 14.8691 14,9211 180,0001 13,9921 11,8th)1 11501 12,0371 14,8691 12,4211 2,51Y) 80,000 38,320 12,821 34,328 10.862 133,641 99,7281 33.913 TOTAL FUNDS 1,307,469 11,266.3631 41,106 Page 33 contlnued... BLACThEiL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS. c<>ntlnu8d FOR THE YEAR ENDED 31 DECEMBER 2023 18. MOVEMENT IN FUNDS- contlnued A current year 12 month5 and prloryear 12 months combined positlon Is asfollows- Net movement in funds At 31.12.23 At 1.1.22 Unrestrlcted funds Unrestrlcted Fund 516,113 161,5111 4S4,602 Restrlrted fundi Pikes Paol Development Sustainablllty Project Worce5tershlre LEADER Fund Natlonal Lottery Communlty Fund Spurt En8land 8ack to Play Funds BBC Ch51dren In Need Worce5tershlre County Council The Scout Associ3tlon County of 8lrmln8ham Garfield Weston Found?tlon The Roger & Dou8las Turner Charltsble Trust 17,638 1.2CIS 16.302 43,821 46,709 13,600 1300 14,0741 19,7381 17.3421 25,042 8,725 14,038 900 12,228 34.083 39,367 25.042 8,725 119,192 25,000 119,192 25,000 10,000 125,670 162,905 288,575 TOTAL FUNDS 641,783 101,394 743,177 page 34 contlnued. BLACKWELL ADVENTURE NOTESTO THÉ FINANCIAL STATEMENTS. contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 MOVEMENT IN FUNDS- contSnu¢d A current year 12 months ané prlor year 12 months cornblned net movement In funds. Included in the above are a5 follows.. Intomlng resources Resource5 expended Movement in funds Unre5trlrt•d fund5 Llnrestrlcted Fund 2.446,011 12.S07,5221 161,5111 R•51rttted lund$ Plkes Pool Development SustalnabllSty Project Worcestershire LEADER Fund National Lottery Community Fund Sport En81)nd 8ack to Play Funds National Lottery Herlta8e Fund 8BC Children in Need Worce5tershlre County Coundl The scout Assoclatlon- County of Blmilngham Garfleld Weston Foundètlon DCMS- UK Youth Fund -Adventur¢s Awby Froffl Home The Ro8er & Dou8las Turner Charllablè Trust 13.6001 13001 14.0741 19,7381 19.8421 180,0th)1 113,2781 14,0961 13.6001 13001 14,0741 19,7381 17,3421 2,5￿) 80,000 38,320 12,821 25.042 8.725 120.O¢J) 25,000 18081 Il9,192 25,000 9,200 19,2CiII io,oc 10,000 297 841 134,9361 162,905 TOTAL FUNDS 2,743.852 2 642,4581 101.394 Page 35 contlnued... BLACKWELL ADVENTUR NOTESTO ThE FINAIIOALSTATEMENTS. ¢ontSnued FOR THE YEAR ENDED 31 DECEMBER 2023 18. MOVEMENT IN FUNDS- ¢ontlnutd Plke5 Pool Oe¥elopment - This fund covers the depreclatlon on the Rope Wall and Shower facllities lunéed bv grants from The Scout Associatlon County of Blrmln8ham and High Adventure. 5ust•lnoblllty Prolttt- The funds were spent In 2019 to insulate the walls In the"Mega Pod" part of the &lng pod villa8e at Blackwell Court. The balance on thls fund Is belng used to fund deprectstlon. Worcesttrshlr• LEADER fvnd - £20,376 was recelved and Spent in 2019 as part of the Installatlon ol accessSble pods In the Glamping Vllla6e. The balante on thisfund 15 Used to fvnd depreclatlon. N•tlon•l Lottery Communlty Fund- A grant of £48.690 was recelved to enable the extenslon of the 8lamplnB pods at 81ackwell Court. Thi5 was spent In 2020. The balance on thls fundbs Used to fund depreclatlon. Sport En8l•nd B•ck to Play Funds- Thls 8rant was awarded to pay for a replacement roof at the 5pon5 Hall. The le8al ownershlp of the Sports Hall 55 held by the Scout A550ciat5on County of 8irmin8ham and so the 8rant was pald to them who then pald the monles to 81ackwell Adventure. These funds were spent In 202112022 and capltallsed. Thls fund Is used to fund dep￿CIatI¢fi. BBC Chlldrèn In N••d- A grant of £38,320 was recelved to fund the purchase of a mSnlbus. These lunds were spènt In 2022 and thls fund 15 used to fund dèpreclatlon, Worc•rter5hlre County Councll - A 8rant of £12,821 was receSved to part fund a rnoblle 5howef bljck. These funds were spent In 2022 and thi5 fund is used to fund depreciation. The Stout Assoclatltsn County of 8lrmlnghom - A 8rant of £120,000 was recelved durin8 2023 towards the refurblshment ol the Manor House, new utllity Infrostructure and a pre-fabr5cated shower blotk. Thls amount Ss primarlly beln8 carrled forward at the balance sheet date. G¥rflèld W•ston Foundatlon - A 8r8nt of £2S.000 was recèlved durlng 2023 towards additlonal Glèmpln8 pods at Blackwell Court. The balance on thls fund Is used to fund depreclatlon. The Roger & Dou8185 Tum•r Charltabl• Trust - A 8rant ol £IO.C4X) was recelved durlng 2023 towards addltlonal 14mpln8 po(Js at 81ackwell Court. The balance on thls fund Is used to fund depreciatlon. IKMS - UK Youth Fund - Adventures Away From Hom• - A 8rnnt of £9.2cKI was recelved durlng 2023 towards re51dentlal experlences for disadvantaged young people. Page 36 contlnued... BLACKWELLADVENTURE NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued FOR THE YEAR ENDED 31 DECEMBER 2023 EMPLOYEE BENEFIT OOUGATIONS The charlty operates a defined contrlbutlon pension plan for certaln of Its employees In addltlon to usin8 the NEST scheme to fulfil Its auto enrolment obligation. The amount reco8nlsed as an expense In the period was £14,876 12022.. f 14,4321. CAPITAL COMMITMENTS 2023 2022 Contra¢ted but not provlded for In the flnanclal statements 8,556 17.325 21. RELATED PARTY DISCLOSURES Blackwell Adventure Involced The Scout Assoclatlon County of 85rmln8ham J tota1 of £nil12022.' £16,¢)061 durlng theyèar and Incurred tosts of £NII12022: £6,000). No balances remalned outstandlng ji the tsalance sheet date. Also, durin8 the year ended 31 Oecernber 2023 Blackwell Adventurè recelved a 8rant of £120,000 from The Scout Assoclation- County of Blrmlngham towards the relurblshment of thè Manor House, new utllliy Infrastructure and pre-labrlcated shower block. Thls amount 55 prlmarlly beSn8 carried forward at the balance shèet date. 22. ULTIMATE CONTrOLLING PARTY Blackwell Adventure Is controlled by The Scout Associat￿n County of 8lrmln8ham. The scout Assoclation County of 8irmln8ham Is a charlty registered In England and Wales (Charlty number.. 5245661. The Scout Assoclatlon County of 8irmln8ham prepared consolldated flnanclal statements whlch are avallable from the Charlty Commls$10n. Pa8e 37