REGISTERED COMPANY NUMBER.. 01534697 IEn8land and Wales) REGisfERED CHARrrY NUMBER: 1121161 REpoKf OF THE TRUSTEES AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR BLACKWELL ADVENTURE J W Hlnks LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Edgbaston Birmingham B15 3BH
BLACKWELL ADVENTURE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Report of the Independent Audltors 10 to 13 Statement of Flnanclal Actlvltles 14 Balance Sheet 15 Cash Flow Statement 16 Notes to the Cash Flow Statement 17 Notes to the Flnancial Statements 18 to 37
BLACKWELL ADVENTURE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present thelr annual report together with the audlted financial statements of the company for the year I January 2024 to 31 December 2024. Introduction As we reflect on the past year, we are proud to present the achievements and progress made by Blackwell Adventure. The year 2024 has been marked by signlficant milestones and unwavering dedication from our team, ensuring the continued success and growth of our organization. Throughout the year, we have seen remarkable advancements in varlous areas. Our staffing efforts have been robust, with the recrultment of seasonal staff. overseas gap Students, and apprentices, all contributing to the successful design and running of our actlvlty programs. Notably, Scott Myers has taken on the role of Pikes Pool manager, brin8in8 his extensive experience to enhance our operations. Customer servlces have excelled, with the team demonstratln8 increased competence and knowledge, partlcularlv wlth the new Cinolla booking system and has managed to secure strong bookings and meet targets. Operationallyi we have maintalned high standards, with regular checks and updates to our actlvity bases and equipment. The tralnin8 of our apprentlces has been thorough, en5urin8 they are well-prepared to assist and eventually lead activlty sessions. Our facilities have seen significant improvements, includin8 the completlon of the York5wood Pod village and the refurbishment of the camp51te's accessible toilet and shower facilities. These enhancements have been well-received by our v15itor5. Financially, despite the challenges currently posed in finding further grant-funding, we remaln In a healthy position, with substantial cash reserves in our bank accounts. Our prudent financial management has allowed us to invest in key project5 and maintain our seasonal operations smoothly. As we look ahead to the coming year, we remain committed to our mission of provldin8 exceptional experiences and opportunities for young people. We extend our heartfelt gratitude to our dedicated staff, volunteers, and supporters who have made this year another resounding success. P.R Fennell Chalr Page I
BLACKWELL ADVENTURE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 OBJEcfivES AND ACTIVITIES Charltable objective5 To provide both residential and day visit outdoor adventure activities for The Scout5, Girl Guiding and other voluntary vouth groups. To support the provision of educatlonal and recreational outdoor activities for schools and colleges. To support team development for other organisations. Vision By providing a variety of hlgh-quality outdoor adventure activities where risk Is controlled and managed as far as is reasonably practicable, we seek to challenge each individual, regardless of background, clrcumstances, or capabillty, with new and fun experiences that enrich their lives. We look to exceed our visitors, expectations by provldlng a great experlence through a motivated, enthuslastic and skllled team of staff and volunteers each committed to our values. Alms The aim of The Scouts, of which we are part, Is to actively en8a8e and Support young people In their personal development, empowerin8 them to rnake a positive contribution to Society. We aim to contlnuously develop our prov15ion of outdoor adventure activitie5 at Blackwell Court and Pikes Pool by: Increasing our accommodation offering chiefly to grow our low season revenue Achieving consistent annual cash 5urplu5es from operations to resource development of our centres Increasin8 revenue5 from team building and corporate events for adult5 to help defray costs Having modern, attractlve, energy efficient and varied facilities across both centres Encoura8in8 all staff and volunteers in their personal development to do thelr best. And we aim to provide practical support to The Scout Association County of Birmingham with overnight accommodatlon option5, meeting, presentation and conference facllities including quality dining and equipment storage. Our culture Ilves our values These values guide our charities, declslons, behaviours, communicatlon, and actions. We are friendly and open. We are honest, and we listen, We hold ourselves to the highest standards. We respect individuals. We are supportive and Inclusive. We love developln8 people We are enthusiastically commltted to delivering safe, fun and memorable experlences for all. Locatlons and propertles The location5, Blackwell Court and Pike5 Pool. are approximately 50 acres each located in North Worcestershire Just a few minutes from Junction l of the M42 and twelve miles from the centre of Birmingham. They are owned by the Scout A55ociation - County of Birmingham and are held in trust by the Scout Association Trust Corporation. The exclusive use, maintenance, development of and revenues from these attivity centre5 is fully delegated to Blackwell Adventure. Page 2
BLACKWELL ADVENTURE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 08JEcllvES AND AcfiviTIES Principal actfvltles The Trustees acknowledge the Charity Commisslon's general guldance on public benefit when reviewing the charity's objectlves and in plannlng activities, refurbishment and investments. Consideration is glven to how these contribute to the charitable objectives within the scope of our vision, aims and values set out above. Achlevements and Progress The Yorkswood pod Vlllage was completed and opened on time in April and booked stron8ly well Into the cooler Autumn period and for 2025. In May a new provlsion for schools of residentlals experlences featuring bell tent accommodatlon was launched at Pikes Pool. Extra Individual tollet and shower pod facllltles were Installed for adult use at Blackwell Court. New cabins were Installed In the staff area with more planned for the sprln8 of 2025 to complete Its refreshed look and facllities. Our apprentlceship scheme was recognlsed as the best small scheme in Worcestershire wlth a prestigiou5 award. Young people enloyed our activitie5 and experiences In larger number5 thls year b005ted by our new accommodatlon options with 400 Scout groups, 216 schools and 359 youth groups visiting wlth a total of over 28,000 young participants. There were 26 Corporate events with 288 participants brlnging total visltors including adults to 33,400 the highest number ever recorded In the organisation5 history. Two thirds of these visit5 included overni8ht accommodation under canvas, in our pod villages or in the Manor House. Booklngs for future use of the two centres as at the end of 2024 stood at an all-time record In value and occupancv levels. Page 3
BLACKWELL ADVENTURE REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRATEGIC REPORT Financial position Financial Revlew Cash Flow Cash Flow History £000 500 400 300 200 100 1100} 12001 13001 14001 15001 2020 2021 2022 2023 2024 vGrants 406 330 164 165 27 Operatlnq Investlng • Flnancln8 13201 1641 50 14 (9) 199 1101 1151 13021 1101 1140) 15) 11701 110) Fin ancing w Inv¢sting ll Operating • Grants There has been a net outflow of cash thi5 year of £87k12023'. £163kl. Cash receipt5 from operatlng activities show an improvement on recent years with a cash Inflow of £66k compared to outflows between 2020 and 2023. A trading loss is outwei8hed by non-cash depreciation charges and other balance sheet movements. Income from grants shows a marked reduction from earlier years. Investment continues in the general a55et base with additions to fixed assets of £181k12023- £260kl. The main items of spend were on the Manor House, Staff accommodation, and the provision of new shower pod5, most of which was funded from the significant grant of £120k from The Scout Association - Cou nty of Birmingham in 2023. The closing cash balance was £243k, a sound basi5 to move into 2025 Page 4
BLACKWELL ADVENTURE REPORTOF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Balance Sheet Blackwell Adventure Balance Sheet history £000 1.200 1,000 800 600 400 200 12001 1400) 2020 2021 2022 2023 2024 Cr•dltors 1751 269 12621 13211 574 12691 368 1324 290 •Curront assets Flxed assets 325 430 695 Fix8d asseis Curieni asseis • Creditors Net Assets have decreased by £81k12023: £60kl in the year. Fixed assets have increased by £51k. New assets added were £181k12023'. £309kl and depreciation was charged of £130k12023.' £96kl. The policy is to malntain all assets used in the buslness in a good state of repair. The trustees have reviewed the assets held at the year-end considering forecasts for future bookings and are satlsfied that there is no impairment to the values at which the assets are Carried in the accounts. The reduction in current assets is reflected In the lower bank balance of £243k {2023'. £330kl carried forward Into 2024, Credltors have increased with the principal increases bein8 deposits for 2025 bookings and a higher VAT liability from final quarter 5ale5 and strong intake of deposit5. Page 5
BLACKWELL ADVENTURE REPORTOF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Revenue and Expenditure Blackwell Adventure Comparison revenues and expenditure £000 1.800 1,600 1,400 1.200 1.000 800 600 400 20D 2020 2021 2022 2023 2024 Grants and EIDnation$ 406 330 165 27 Income 239 556 1,143 1,271 1,376 1,471 IExpendIture 533 763 1.267 1.580 In 2024, grants were only a mi nor part of revenues at Blackwell Adventurei which is a significant reduction from recent year5. The grant income of £27,250 was from DCMS UK Youth Fund for Adventures away from home. Income and expenditure both increased compared to last year, reflecting increased activity levels and inflation. As can be seen, expenditure exceed5 the total revenue for the year, giving rise to a loss after charging depreciation of £130k on fixed assets. This 15 a non-cash item without which there would have been a small surplu5. The trustees are aware af the need to generate more revenue in future years to provide sufficient funds to continue our policy of site improvement5 to enhance the quality of the visitor experience at both centres. The current economic climate makes it difficult to increase charges too rapidly, and so we are actively lookin8 for more grant funding to enable further development. Page 6
BLACKWELL ADVENTURE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRATEGIC REPORT Flnanclal review Reserves pollcy The Trustees, Reserves Policy provides for support of the day-to-day runnlng of the charity's activitles, future developments and allows for risk. General funds and loan facilities are retained as operational reserves to support the day-to-day activities Funds retelved for specific purposes are categorised between capital projects and those of a revenue nature. They are credited to restricted reserves as received and the associated expendlture or costs charged against them as incurred. The Trustees regularly review these to ensure they are utilised for the purpose for which they were given and in a tlmely manner. The level of operatlonal reserves is consldered annually and in conjunction with the business plan. 81ackwell Adventure is a subsidiary company of the Scout Association County of Blrmingham and works closely wlth their trustees In determining investment decislons for the sltes at Blackwell Court and Plkes Pool. Slgnlficant reserves, including strate8lc reserves whlch may be drawn down for major capital expendlture. are held In the parent charity accounts and it is no longer considered necessary to dupllcate these In Blackwell Adventure. We consider that taklng account of deposits held towards future bookings, some flexibility In staffing levels and busine55 interruption Insurance that £50k is adequate for operational 155ues. A further £50k is to be held for the malntenance of site infrastructure. This will give £IOOk in total. At the year end, the charity held no reserves havlng largely funded recent major capital and refurbishment projects Using its own resources. The trustee5 will seek to generate surpluse5 in future years to bring reserves back to the desired £IOOk level. Going concern The Trustees have a reasonable expectation that the company has adequate resources to continue In operational existence for the foreseeable future. There was a trading loss of £81k after charging £130k of depreciation on the expanded flxed assets which have now increased to £695k. There is a cash balance of £243k carried forward Into 2025. A cash flow forecast to the end of 2025 has been prepared whlch shows a small trading loss though a cash positive result after the add back of depreciation. There will be a small increase of cash balances to £254k after planned capital expenditure of £90k which is prlncipally improvements to the staff accommodatlon and elertrlcal infrastructure, the later to robustly ensure continuity to servlce higher levels of activltv. At the tlme of approvln8 thls report the prospects for 2025 look very good with firm bookings to date covering 85% of the full year forecast. For these reasons. the charlty continues to adopt the 8oln8 concern basls in preparlng the financlal statements. Further detalls can be found In the Accounting Pollcles. Page 7
BLACKWELL ADVENTURE REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 5fRucfuRE, GOVERNANCE AND MANAGEMENT Structure. governan and management a. Constitution The organisation is establlshed under the Memorandum of A55ociation that sets out the objects and powers of the charitable company and is governed under the Articles of Association. In the event of the Company being wound up. the members are required to contribute an amount not exceeding £1. Voting members of The Scout Assoclation County of Birmingham Trustee Board are, by virtue of their role. Members of Blackwell Adventure and are entitled to vote at general meetlngs. b. Methods of appolntment or electlon of Trustees The management of the company is the responsibility of the Trustees who are elected or co-opted under the terms of the Trust deed. The rules for appointing and the rotating tenure of the Board Members (Trustees) are set out in the Memorandum and Articles of Associatlon. All Trustees are appointed for a term of three years, after whith they are eligible for re-election. It Is acknowled8ed that the skills and Ilved experlences of the Trustees have a dlrect bearing on the Board's capability to undertake their breadth of responsibilities. Therefore, when looklng to appoint a new Trustee consideratlon Is glven to the skills requlred, considerlng the required skills of any specific role and also to ensure the a8greBate skills and experlences are covered and this wa5 Informed by the outcome from a skills audit undertaken in 2020, whlch Is reviewed on a three yearly basis. The Scout A550ciation County of Birmingham also has the option of nominating two Trustees to the Board. As of December 2024, the nominated Trustee5 were Steven Thomas Icounty Commissioner) and Dave Allen Icounty Chairman). c. Board assurance Day-to-day management of Blackwell Adventure Is the responsibility of the Chief Executlve Officer and the senlor management team. Regular meetings of the Chair and CEO take place and the Board monltors progress and performance based on re8ular reports presented by the CEO relatin8 to all aspects of the charlty. This enables the Board to revlew pragress against tar8ets, consider strategy, policyi and to Identify any risks whlch need to be addressed. There is an annual review meeting with the Board and the management team. Inductlon and tralnlng of new trustees A structured induction is provlded to new Board Members and a comprehensive Board File is made available. As of December 2024, the majority of Trustees were members of the Scout Association, and the composition of the Board reflects a wide range of commercial and professional experience. Key management remuneration Key management salaries are benchmarked against similar positions within the Activity Centre industry and decisions on any changes are made by the Board with recommendations from the CEO. Page 8
BLACKWELL ADVENTURE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Charlty relationships Blackwell Adventure and The Scout Association County of Birmlngham (Registered charity number 524566) are interdependent charities registered In England and Wales with similar objects. The Scout Associatlon - County of Blrmlngham is a member of The Scouts, federation of charities operating under The Scout Association's Royal Charter. The County and its Distrlcts, Group5 and Sectlons are frequent users of the camping, activity and meeting facilities that Blackwell Adventure offer and enjoy preferentlal rates. Page 9
BLACKWELL ADVENTURE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 srRUCTURE. GOVERNANCE AND MANAGEMENT Rlsk management The Company takes a robust approach to risk management and across the following rlsk categories the Trustees have assessed and quantified th05e risks to which the charity is exposed,. have identified relevant control measures and mitigating action5 to reduce the risk5, and regularly review them. Governance Operational risk Finance risk Environmental and external risk Law and regulation compliance risk Recognising the nature of our core business it is acknowledged that signlficant risk5 relate to Health and safety and safeguarding of children and young people and outlined below are the actions in place to mitigate these risks. Health and safety There is a comprehensive Health and Safety policy in place, which is strictly monitored and adhered to. Blackwell Adventure provides a range of adventure activities in a safe environment, working wlthin the relevant regulations with suitably qualified instructors. These regulations come from two sources.. Health and Safety legislation and activity re8ulations. 8romsgrove Environmental Health Department is the enforcin8 authority that checks risk assessments and operatin8 procedure5 in respect of the facilities, food safety and all other general safety issues. Activity re8ulatlon Blackwell Adventure is licensed by the Adventurous Actlvities Licensing Service IAALSI (No. L 126061R1474) that inspects activity centres and other activity providers on behalf of the Health and Safety Executive. Each of the activities is run either to the standard set by the National Governing Body, where available, or expertise is sought from an appropriately qualified external consultant. The Trustees continue to authorlse expenditure on malntalnlng and improvlng facilltles on both sltes to ensure that all activities are carrled out safely with up-to-date equipment. Safe8uardln8 The Charity recognises and acknowledges the duty of care placed upon the organlsation to safe8uard and promote the welfare of children, young people and adults at risk and is committed to ensuring safeguarding practice reflects Statutory responsibilities, government guidance and complies with best practice. There is a comprehensive Safe8uardin8 Policy in place which is reviewed on an annual basis, alongside a review of practice. Stringent checks on staff and volunteers working on it5 behalf including enhanced DBS check5 are carried out, both at the point of recruitment and as an on-going process of monitorlng and there is a robust programme of 5afeguardin8 trainin8 in place in association with Birmingham City Council Social Services Department, both as part of induction and for regular updates across the staff team. Insurances Blackwell Adventure malntain5 comprehensive insurances to cover potential claims in respect of Insurable risks. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01534697 {England and Wales) Reglstered Charlty number 1121161 Page 10
BLACKWELL ADVENTURE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Registered office Blackwell Court Agmore Road Blackwell Bromsgrove Worcestershlre B60 IPX Trustees D A Allen P R Fennell A D Harverson K K W Hemmin8S A K Lloyd A G Splnks L Taylor-stupple S G Thomas Company secretary A G Spinks Audltors J W Hlnk5 LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Ed8baston Blrmingham B15 3BH Bankers Barclays Bank PLC Leitester LE87 2BB Chlef Executlve Offlcer D Squire TRUSTEES. RESPONSIBILITY STATEMEMr The trustees (who are also the dlrectors of Blackwell Adventure for the purposes of company lawl are responsible for preparing the Report of the Trustee5 and the financial statements in accordance with applicable law and United Kingdom Accounting 5tandard5 (United Kln8dom Generally Accepted Accounting Prarticel. Company law requires the trustees to prepare financial statements for each financial year which glve a true and fair view of the state of affair5 of the charitable company and of the incoming resources and application of resource5, includin8 the income and expenditure, of the charitable company for that period. In preparing those financlal statements, the trustee5 are required to select suitable accounting policie5 and then apply them consistently,. observe the methods and principles in the Charity SORP: make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unle55 it Is Inappropriate to presume that the charitable company will continue In business. Page 11
BLACKWELL ADVENTURE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 TRusfEES' RESPONSIBILITY STATEMENT- continued The trustees are responsible for keeping proper accounting records which disclose with reasonable atcuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companles Act 2006. They are also responsible for safeguarding the asset5 of the charitable company and hence for taking reasonable steps for the preventlon and detection of fr3ud and other irregularities. srATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDrroRS So far as the trustees are aware. there is no relevant information las defined by Section 418 of the Companies Act 2006) of which the charitable company's auditors are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any audlt Information and to establish that the charitable company's audltors are aware of that information. AUDITORS The auditors, J W Hlnks LLP, will be proposed for re-appolntment at the forthcoming Annual General Meeting. Report of the trustee5, Incorporating 3 strategic report, approved by order of the board of trustees, as the company directors, on 28 Aprll 2025 and Signed on the board's behalf by: P R Fennell Trustee Page 12
REPORTOF THE INDEPENDENT AUDITORS TOTHE MEMBERS OF BLACKWELL ADVENTURE Oplnlon We have audited the financial statements of Blackwell Adventure (the 'charltable company,) for the year ended 31 December 2024 which comprise the Statement of Flnancial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, includlng a summary of significant accounting policies. The financial reporting framework that has been applied In their preparation is applicable law and United Klngdom Accountlng 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 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Internatlonal Standards on Auditing {UKI {ISAs IUKI} 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 wlth the ethlcal 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 wlth these requirements. We belleve that the audit evidence we have obtained is sufficient and approprlate to provide a basis for our opinion. Concluslons relating to 8oln8 concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statement5 is appropriate. Based on the work we have performed, we have not identlfied any material uncertainties relating to event5 or conditions that, indivldually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilitie5 of the trustees with respect to going concern are described in the relevant sections of this report. Other Informatlon The trustees are responsible for the other information. The other information comprlses the informatlon included In the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our oplnlon on the financial statements does not cover the other informatlon and, except to the extent otherwise expllcltly stated in our report, we do not express any form of assurance conclusion thereon. In connectlon 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 incon5iStent with the financlal statements or our knowledge obtained in the audit or otherwise appear5 to be materially mlsstated. If we identlfy such materlal Inconsistencies or apparent material misstatements, we are required to determine whether this give5 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 thi5 Other information, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Trustees for the financial year for which the financial statements are prepared 15 consistent with the financial statements; and the Report of the Trustees has been prepared in accordance wlth applicable legal requirements. Page 13
REPORT OFTHE INDEPENDENT AUDITORSTOTHE MEMBERS OF BLACKWELL ADVENTURE Matters on whlch we are required to report by exception In the light of the knowledge and understanding of the charitable company and its envlronment obtained in the course of the audit, we have not Identified material mlsstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires u5 to report to vou if, in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or the financlal statements are not In agreement with the accounting records and return5,' or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the Information and explanations we require for our audit. Responslbilitles of trustees As explained more fully in the Trustees, Responsibilities Statement, the trustees (who are also the directors of the charltable company for the purposes of company lawl are responsible for the preparation of the flnancial statements and for bein8 sat15fied that they give a true and falr view, and for such Internal control as the trustees determine is necessary to enable the preparatlon of financlal statements that are free from material misstatement, whether due to fraud or error. In preparin8 the flnanclal statements, the trustees are responslble for assessing the charltable company's ablllty to continue as a going concern, discloslng, as applicable, matters related to going concern and usln8 the going concern basis of accounting unless the trustees elther intend to liquldate the charitable cornpany or to cease operations, or have no reallstic alternatlve but to do so. Page 14
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BLACKWELL ADVENTURE Our responslbllities for the audlt of the financial statements Our objectlves 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 opinlon. 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 exist5. 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 irregularlties, including fraud is detailed below: Our assessment focussed on key laws and regulations the Charitable Company has to comply with and areas if the financial statements we assessed as being more susceptible to misstatement. These key laws and re8ulations included but were not limited to compliance with the Companies Act 2006, Charities Art 2011, Charities (Protection and Social Investment) Act 2016, taxatlon le8islation, data protection, anti-brlbery and employment legislatlon. We are not responsible for preventing irregularltles. Our approach to detectlng Irregularities Included, but was not limited to, the following: obtaining an understanding of the le8al and re8ul3tory framework applicable to the Charitable Company and how the Charitable Company is complying with that framework, including agreement of financial statement disclosures to underlying documentation and other evidence- obtaining an under5tandin8 of the Charitable Company's control environment and how the Charitable Company has applled relevant control procedures, through d15cussions with Trustees and other management and by performln8 walkthrough testin8 over key areas; obtaining an understanding of the Charltable Company's risk assessment process, including the risk of fraud,. reviewing meeting minutes of those charged with governance throughout the year: and performing audit testing to address the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, evaluatin8 the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. Whilst considering how our audlt work addressed the detection of Irregularities, we a150 considered the likelihood of detection based on our approach. Irregularities arising from fraud are inherently more difflcult to detect than those arisin8 from error. Because of the inherent Ilmltations of an audlt, there is as rlsk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Thls risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected In the financial statements, as we wlll be less likely to become aware of instances of non-compliance. The risk is also greater regardin8 irregularltles occurring due to fraud rather than error, as fraud Involves intentional concealment, for8eryi collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the flnancial statements is located on the Financial Reportin8 Council's website at www.fr¢.org.uk/audltorsresponsibillties. Thls description forms part of our Report of the Independent Audltors. Page 15
REPORTOF THE INDEPENDENT AUDITORSTO THE MEMBERS OF BLACKWELL ADVENTURE Use of our report This report is made solely to the charltable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an 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 members as a body, for our audit work, for this report, or for the opinions we have formed. James Cruse AC4, FCCA, Bsc IEconl Hons (Senior Statutory Auditor) for and on behalf ofj W Hlnks LLP Chartered Accountants and Statutory Auditors 19 Highfleld Road Edgbaston Blrmlngham B15 3BH 28 Aprll 2025 Page 16
BLACKWELL ADVENTURE STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total nds 2023 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 27,250 27,250 164,886 Charltable actlvltles Operation of Activity Centre IA59,803 IB59,803 1,243,773 Investment income Other income 4,762 6,418 4.762 6N18 4,472 23,252 Total IN70.983 27.250 IN98,233 1,436,383 EXPENDITURE ON Charltable actlvities Direct charitable costs Support costs 1,229A43 275,192 74,959 1,304,402 275,192 1,102.271 273,824 Total 1,504,635 74,959 1,579,594 1,376,095 NET INCOMEI(EXPENDITURE) (33,652) (47,709) (81361) 60,288 RECONCIUATION OF FUNDS Total funds brought forward 454.602 288.575 743.177 682,889 TOTAL FUNDS CARRIED FORWARD 420.950 240,866 661.816 743,177 The note5 form part of these financial statements Page 17
BLACKWELL ADVENTURE BALANCE SHEET 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted fund5 Note5 FIXED ASSETS Tangible assets li 467.950 227,244 695,194 643,912 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 12 13 10,148 36A26 229,691 10,148 36,826 243,313 11,725 26,232 330,089 13.622 276.665 13,622 290,287 368,046 CREDrroRS Amounts falling due within one year 14 (318,6841 (318,684) 1253,592) NEf CURRENT ASSETS (42,019) 13,622 128,397) 114,454 TOTAL ASSEfs LESS CURRENT LIABILrriES 425,931 240,866 666.797 758,366 CREDITORS Amounts fallln8 due after more than one year 15 (4.981) 14,981) {15,1891 NET ASSETS 420.950 240,866 661,816 743,177 FUNDS Unrestricted funds Restricted funds 18 420,950 240,866 454,602 288,575 TOTAL FUNDS 661.816 743,177 The financial statements were approved by the Board of Trustees and authorised for issue on 28 April 2025 and were Signed on its If by: P R Fennell - Trustee The notes form part of these financial statements Page 18
BLACKWELL ADVENTURE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activltles Cash generated from operations 92,982 149,831 Net cash provided by operatin8 activities 92.982 149,831 Cash flows from Investing artlvitles Purchase of tangible flxed assets Sale of tangible fixed assets Interest received (181,000) 6.500 4,762 1309,8061 2,850 4,472 Net cash used In Investing actlvltles 169,738) {302.4841 Cash flow5 from flnanclng artlvltles Repayments of borrowin8 10,020) 110,0221 Net cash used in financing actlvities 110,020) 110,0221 Change In cash and cash equlvalents In the reportlng perlod Cash and cash equlvalents at the beglnnlng of the reportlng perlod (86,7761 1162,6751 330,089 492,764 Cash and cash equlvalents at the end of the reportln8 period 243,313 330,089 The notes form part of these financial Statements Page 19
BLACKWELL ADVENTURE NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER Z024 RECONCILIATION OF NET IEXPENDITUREI/INCOME TO NEf CASH FLOW FROM OPERATING AcfiviTIES 2024 2023 Net leKpenditurellincome for the reportlng perlod (as per the Statement of Flnancial Actlvitles Adjustment5 for: Depreciation charges Profit on disposal of flxed assets Interest recelved Decrease in stocks Ilncreasel/decrease in debtors Increaselldecreasel in creditors (81.3611 60,288 129.636 (6,418) 14,7621 1,577 (10,5941 64,904 96,294 {2,8501 14,4721 3.611 39,335 {42,3751 Net cash provlded by operatlons 92,982 149,831 ANALYSIS OF CHANGES IN NET FUNDS At 1.1.24 Cash flow At 31.12.24 Net cash Cash at bank and in hand 330.089 (86,776) 243,313 330,089 (86,776) 243,313 Debt Debts fallin8 due wlthln I year Debts falllng due after l year (9,8641 (15,1891 1188) 10,208 110,0521 4.981) (25,0531 10.020 115,033) Total 305.036 76,7561 228.280 The note5 form part of these financial statements Page 20
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS Blackwell Adventure is a registered company limited by guarantee with reglstered charitable status, in the United Klngdom. In the event of the charlty being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page l of these financial statements. The nature of the charity's operations and principal activities are to create a servlce-based company providing residential and outdoor adventure activities. for Scouts. Girl Guides and other youth groups both voluntary and statutory, to provide slmilar activities to schools and colleges within the National Curriculum and to provide team building activities to adults. The charity constltutes a publlc benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparlng their accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS 1021, the Charltles Act 2011, the Companies Act 2006 and UK Generallv Accepted Practlce. The financial statements are prepared on a going concern basls under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared In 5terlin8 which 15 the functional currency of the charity. The slgniflcant accounting policies applied In the preparation of these financial statements are set out below. These pollcies have been con5i5tently applied to all years presented unless otherwise stated. INCOME All incoming resources are included in the Statement of Financial Actlvlties {SoFAI when the charlty is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received. For donations to be recognised the charity wi15 have been notified of the amounts and the settlement date in writin8. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then Income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. No amount Is Included in the flnancial statements for volunteer tlme in line wlth the SORP (FRS 1021. Where practlcable, gifts in kind donated for dlstrlbution to the beneficiaries of the charity are Included In stock and donations in the financlal statements upon receipt. If It is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value Is recognised as component of donations when It Is distributed, and an equivalent amount reco8nised as charitable expenditure. Fixed asset gifts in kind are recognised when recelvable and are included at fair value. They are not deferred over the Ilfe of the a55et. Income from trading activities includes income earned from fundraising event5 and trading activities to raise funds for the charity. Income is received in exchange for Supplying good5 and services in order to raise funds and is recognised when entitlement has occurred. Page 21 continued...
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMEpifs- continued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES - continued EXPENDrruRE All expenditure is accounted for on an accrua15 basis and has been classified under heading5 that ag8re8ate all costs related to the category. Expenditure is reco8nised where there is a legal or constructive obligation to make payment5 to third parties. it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings: Expenditure on charitable activities includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Irrecoverable VAT is charged as an expense against the activlty for which expendlture arose. Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. SUPPORT COST ALLOCATION Support costs are those that asslst the work of the charity but do not directly represent charitable actlvltles and Include office costs, governance costs, admlnlstratlve payroll costs. They are incurred dlrectly in support of expenditure on the object5 of the charlty and include project management carrled out at Headquarters. Where support costs cannot be directly attributed to partlcular headings they have been allocated to C05t of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads and other overheads have been allocated on an approprlate ba515. Fund-raising C05t5 are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. TANGIBLE FIXED ASSETS Tangible fixed assets are inltlally recognised at cost. After reco8nltlon, under the cost model, tangible fixed assets are measured at cost less accumulated depreciatlon and any accumulated Impairment losses. All costs incurred to bring a tan8ible fixed asset into its Intended worklng condition should be included in the measurement of cost. A review for Impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carryin8 value of any fixed asset may not be recoverable. Shortfalls between the carryin8 value of fixed assets and their recoverable amounts are recogni5ed as impairments. Impairment losse5 are recognised in the Statement of Financial Activities incorporating Incorne and Expenditure Account. Tangible fixed assets are carried at C05t, net of depreciation and any provision for impairment. Oepreciation is provided at rates calculated to write off the cost of fixed asset5, less their estimated residual value, over their expected useful lives on the following bases from the date that the asset is bought into use: Leasehold property improvements - over 10 year5 on cost Staff accommodation - over 6 years on cost Permanent equipment - over 10 years on cost Short terrn equipment - over 3 years on cost Equipment - over 4 years on cost Fixtures and flttlngs - over 4 year5 on cost Office equipment - over 4 years on cost Tented village over 6 years on cost Motor vehlcles - over 4 years on cost Page 22 continued..-
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POUCIES- contlnued STOCKS Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-movlng stock where appropriate. TAXATION The charitable company is a charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out In Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxatlon In respect of income or capital galns received within categories covered bv Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied excluslvely to charitable purposes. FUND ACCOUNTING General funds are unrestricted funds which are available for use at the di5cretlon of the Trustees in furtherance of the general objectives of the Charitable Company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrlrtlons imposed by donors or which have been raised by the Charitable Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. EMPLOYEE BENEFrrsipENSIONS 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 Activlties in the period to which they relate. When employees have rendered service to the charlty, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The charlty operates a deflned contributlon plan for the beneflt of its employees. Contributlons are expensed as they become payable. GOING CONCERN The Trustees have a reasonable expectatlon that the company has adequate resources to continue In operational existence for the foreseeable future and are pleased to report a net surplus for the year. A business plan {incorporating 12 month cashflowl to the end of 2025 wa5 considered sat15factory by the Board. For these reasons, the charity continues to adopt the going concern basis in preparin8 the financial Statements. DEBTORSICREDITORS 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 expenditure. LOANS AND BORROWINGS Loans and borrowing5 are initially reco8nised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method. less impairment. If an arrangement constitutes a finance transaction it 15 measured at present value. Page 23 continued...
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 DONATIONS AND LEGACIES 2024 2023 Donations Grant5 686 164,200 27.250 27,250 164,886 Grant5 received, included In the above. are as follows: 2024 2023 Garfield Weston Foundatlon DCMS- UK Youth Fund- Adventures Away From Home The Roger & Douglas Turner Charitable Trust The Scout Association - County of Birmingham 25,000 9,200 10,000 120,0(YJ 27.250 27,250 164,200 INVESTMENT INCOME 2024 2023 Interest receivable - trading 4,762 4,472 INCOME FROM CHARITABLE ACTivrriES 2024 2023 Activity Operatlon of Actlvity Centre Operation of Actlvlty Centre Scouts and Guldes Schools and Colleges Development and team buildin8 programmes Other 369,616 768,385 333,857 631,654 Operation of Actlvlty Centre Operation of Activity Centre 126.003 195,799 94,416 183,846 1,459,803 1,243,773 Page 24 continued...
BLACKWELL ADVEMfuRE NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 CHARITABLE ACTIVITIES COSTS Support costs (see note 6) Direct Costs Totals Dlrect charitable costs Support costs 1,304A02 1,304.402 275.192 275.192 1.304,402 275,192 1,579,594 SUPPORT COSTS Informatlon technology Governance osts Flnance Other Totals Support costs 46,723 4,110 216,609 7,750 275,192 NET INCOMEIIEXPENDITURE) Net Income/lexpenditurel15 Stated after charging/{creditingl: 2024 2023 Depreciation - owned assets Surplus on disposal of fixed asset5 Operating lease5 129,636 16N18) 11,780 96,293 {2,8501 11,687 AUDITORS, REMUNERATION 2024 2023 Fees payable to the charlty's auditors for the audit of the charlty's financial statements 7,750 7,750 TRUSTEES, REMUNERATION AND BENEFITS There were no tru5tees' remuneratlon or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. TRUSTEES, EXPENSE5 There were no trustees, expense5 paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. Page 25 continued..
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 io. STAFF COSTS 2024 2023 Wages and salaries Social security c05t5 Other pension costs 730.252 46,991 19,674 610,859 41,119 15,416 796,917 667,394 The trustee5 consider its key management personnel comprlse of the management team. The total employment benefits includlng employer pension contributions of the key management personnel were £190,13712023: £181,283). The average monthly number of employees during the year was as follows; 2024 35 2023 31 Operatlonal Admlnistration 33 The number of employee5 whose employee beneflts (excluding employer penslon costs) exceeded £60,000 was: 2024 2023 £60,001- £70,000 Page 26 continued..-
BLACKWELL ADVEpifuRE NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 ii. TANG18LE FIXED ASSETS Leasehold property improvements Fixtures and fittings Office equipment COST At l January 2024 Additions Dlsposals 834,278 106,369 11,469 2,170 221,269 55.081 (1.475) At 31 December 2024 940,647 13.639 274.875 DEPRECIATION At l January 2024 Charge for year Elimlnated on disposal 326,096 79.419 4,172 3,192 157,646 26,144 (1,475) At 31 December 2024 405.515 7,364 182,315 NET BOOK VALUE At 31 December 2024 535,132 6,275 92,560 At 310ecember 2023 508,182 7,297 63,623 Other fixed assets Motor vehicles Tota15 COST At l January 2024 Additions Disposals 67,737 129,339 17,380 140,654) 1,264,092 181.000 158,1291 116.000) At 31 December 2024 51,737 106,065 1,386,963 OEPRECIATION At l January 2024 Charge for year Ellminated on disposal 43,749 9,286 116,000) 88,517 11.595 {40,572) 620,180 129,636 58,047) At 31 December 2024 37,035 59,540 691,769 NET BOOKVALUE At 31 December 2024 14,702 46,525 695,194 At 31 December 2023 23,988 40,822 643,912 Page 27 continued...
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 12. srocKS 2024 2023 Stock5 10.148 11,725 13. DEBTOR5: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Prepayments and accrued income 7.139 29,687 8,304 17,928 36,826 26,232 14. CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrafts (see note 161 Trade creditors Social security and other taxes Other creditors Accruals and deferred income 10.052 919 6876 1,812 237.025 9,864 180 30,520 684 212,344 318,684 253,592 2024 2023 Deferred In¢ome Deferred Income at l January Resources deferred during the year Amounts released from previous periods 193,344 205,411 215,644 193.344 {193,344) 1205.4111 Deferred income at 31 December 215,644 193,344 Page 28 continued...
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 DECEMBER 2024 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Bank loans (see note 161 4,981 15,189 Included within bank loans due wlthin and after one year is the balance of a Bounce Back loan received from Barclays Bank UK PIC. 16. LOANS An analysis of the maturlty of loans Is glven below: 2024 2023 Amounts falllng due withln one year on demand: Bank loans 10,052 9.864 Amounts falllng between one and two years: Bank loans- 1-2 years 4,981 15,189 17. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: 2024 2023 Withln one year Between one and flve years 11,780 10,800 11,780 22,580 22,580 34.360 Page 29 continued...
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 18. MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestricted funds Unrestricted Fund 454.602 (33,652) 420.950 Restricted funds Pikes Pool Development SustalnabS1ity Project Worcestershire LEADER Fund Natlonal Lottery Community Fund Sport En8land Back to Play Funds BBC Chlldren in Need Worcestershire County Council The Scout Assoclation - County of Birmingham Garfleld Weston Foundation The Roger & Douglas Turner Charitable Trust 14,038 11.800) 1150) 12.037) 14.869) 14,921) 19,286) (2,137) 12,238 750 10.191 29,214 34A46 15,756 6.588 12.228 34,083 39,367 25.042 8.725 119,192 25,000 117,299) (4,2101 101,893 20,790 10.000 (1,0001 9.000 288,575 147,709) 24066 TOTAL FUNDS 743,177 {81,3611 661,816 Page 30 continued...
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 18. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds Unrestricted Fund 1,470,983 (1,$04,635) 133,652) Restricted funds Pikes Pool Development Sustainability Project Worcester5hlre LEADER Fund Natlonal Lottery Communlty Fund Sport England Back to Play Funds BBC Children in Need Worcestershire County Council The Scout Associatlon- County of Birmingham Garfield Weston Foundation DCMS- UK Youth Fund- Adventures Away From Home The Roger & Douglas Turner Charitable Trust 11,800) (Iso) 12,037) (4,869) 14,921) (9,286) (2.137) (1.800) (150) (2,037) (4,869) (4.921) (9,286) 12.137) 117.2991 14,210} (17.299) (4,210) 27,250 (27,250) (1.000) (1,000) 27,250 174,959) (47,7091 TOTAL FUNDS 1,498,233 (1,579,594) 181,361) Page 31 continued...
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 18. MOVEMENT IN FUNDS- contlnued Comparatlve5 for movement In funds Net movernent In fund5 At 31.12.23 At 1.1.23 Unrestrlcted funds Unrestricted Fund 523,306 168,7041 454,602 Restrlrted funds Pikes Pool Development Sustainability Project Worcestershlre LEADER Fund National Lottery Community Fund Sport England Back to Play Funds BBC Children In Need Worcestershire County Councll The Scout Associatlon- County of Blrmingham Garfield Weston Foundatlon The Roger & Douglas Turner Charitable Trust IS,838 1,050 14,265 38,952 44,288 34,328 10,862 11,8¢)01 1150) 12,037) 14,8691 14,9211 19,2861 12,137) 14,038 900 12,228 34,083 39,367 25,042 8,725 119,192 25,000 119,192 25,OlXI 10,000 10,000 159,583 128,992 288,575 TOTAL FUNDS 682,889 60,288 743,177 Page 32 continued...
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 18. MOVEMENT IN FUNDS- contlnued Comparative net movement in funds, Included in the above are as follows: Incoming resource5 Resources expended Movement In funds Unrestrlcted funds Unrestricted Fund 1,272,183 11,340,887) 168,704) Restrlcted funds Pikes Pool Development Sustainability Project Worcestershire LEADER Fund National Lottery Community Fund Sport England Back to Play Funds BBC Chlldren in Need Worcestershire County Council The Scout A5soclatlon- County of Birmlngham Garfield Weston Foundation DCMS- UK Youth Fund - Adventures Away From Horne The Roger & Douglas Turner Charitable Trust 11,800) 1150) 12,037) 14,8691 14,9211 19,2861 12,137) {1,8001 11501 12,0371 14.869) 14,921) 19,286) (2,137) 120,000 25,000 1808} 119,192 25,0(M) 9,200 19,2001 10,000 10,000 164.200 135.2081 128,992 TOTAL FUNDS 1,436,383 11,376,095) 60,288 Page 33 continued..-
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 MOVEMENT IN FUNDS- continued A current year 12 months and prioryear 12 months combined position is as follows: Net movement in funds At 31.12.24 At 1.1.23 Unrestricted funds Unrestricted Fund 523,306 {102,3561 420,950 Restrlcted funds Pikes Pool Development Sustalnablllty Project Worcestershire LEADER Fund National Lottery Community Fund Sport England Back to Play Funds BBC Children in Need Worcestershire County Council The Scout As50clation- County of Birmingham Garfield Weston Foundation The Roger & Douglas Turner Charltable Trust 15.838 1,050 14,265 38,952 44,288 34.328 10,862 13,6CQI {3001 14,0741 19,7381 19,8421 118,5721 {4,274) 12,238 750 10,191 29,214 34,446 15,756 6,588 101,893 20,790 101,893 20,790 9,000 9,000 159,583 81,283 240,866 TOTAL FUNDS 682,889 21,0731 661,816 Page 34 continued...
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 MOVEMENT IN FUNDS- continued A current year 12 months and prlor year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds Unrestricted Fund 2,743,166 {2,845,522) {102,3561 Restrlcted funds Pikes Pool Development Su5talnabillty Projert Worcestershlre LEADER Fund National Lottery Community Fund Sport England Back to Play Funds BBC Children In Need Worcestershire County Councll The Scout Assoclation- County of Birmingham Garfield Weston Foundation DCMS- UK Youth Fund- Adventures Away From Home The Roger & Dougla5 Turner Charitable Trust 13,6001 13001 14,0741 (9,738) (9,842) 118,572) {4,2741 (3,6001 1300) {4,0741 {9,7381 19,8421 118,5721 14,2741 120.000 25,000 118,1071 14,2101 101.893 20,790 36,450 {36,450} 10,000 {I,000) 9,000 191,450 1110,1671 81.283 TOTAL FUNDS 2,934,616 Page 35 continued...
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS. continued FOR THE YEAR ENDED 31 DECEMBER 2024 18. MOVEMENT IN FUNDS- continued Plkes Pool Development - This fund covers the depreciation on the Rope Wall and shower facilitles funded by grants from The Scout Association County of Birmingham and High Adventure. Sustainablllty Project The funds were spent in 2019 to insulate the walls in the "Mega Pod part of the glamping pod village at Blackwell Court. The balance on this fund is being used to fund depreciation. Worcestershlre LEADER fund - £20,376 was received and spent in 2019 as part of the installation of accessible pods in the Glamping Villa8e. The balance on this fund is used to fund depreciation. Natlonal Lottery Communlty Fund - A grant of £48,690 was received to enable the extension of the glamplng pods at Blackwell Court. Thls was spent in 2020. The balance on thls fund Is used to fund depreclatlon. Sport England Back to Play Funds - Thls grant was awarded to pay for a replacement roof at the Sports Hall. The legal ownership of the Sports Hall is held by the Scout Association County of Birmingham and so the grant was pald to them who then paid the monies to Blackwell Adventure. These funds were spent In 202112022 and capitallsed. Thi5 fund Is used to fund depreciation. BBC Chlldren In Need - A grant of £38,320 wa5 received to fund the purchase of a minlbus. These funds were spent in 2022 and this fund is used to fund depreciation. Worcester5hlre County Council A grant of £12,821 was received to part fund a mobile Shower block. These funds were spent in 2022 and this fund is used to fund depreciation. The Scout Associatlon - County of Blrmin8ham - A Brant of £120,000 was received durln8 2023 towards the refurbishment of the Manor House, new utility infrastructure and a pre-fabricated shower block. This amount is prlmarily bein8 carrled forward at the balance sheet date. Garfleld Weston Foundatlon - A grant of £25,000 was recelved during 2023 towards addltlonal Glamping pods at Blackwell Court. The balance on this fund is used to fund depreciatlon. The Roger & Douglas Turner Charltable Trust A grant of £10,000 was received durin8 2023 towards additional 8lamplng pods at Blackwell Court. The balance on thls fund Is used to fund depreclatlon. DCMS - UK Youth Fund - Adventures Away From Home - A grant of £9,2¢XI was recelved durlng 2023 towards residential experiences for d15advantaged youn8 people. A further 8rant of £27,250 was received in 2024 for the same purpose. Page 36 continued..
BLACKWELL ADVENTURE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 19. EMPLOYEE BENEFIT OBLIGATIONS The charity operates a defined contribution pension plan for certain of its employees in addition to using the NEST scheme to fulfil its auto enrolment obligation. The amount recognlsed as an expense in the period was £19,13412023: £14,876). CAPITAL COMMITMENTS 2024 2023 Contrarted but not provided for in the financial statements 8,556 21. RELATED PARTY DISCLOSURES There were no related party transactlons for the year ended 310ecember 2024. 22. ULTIMATE CONTROLLING PARTY Blackwell Adventure is controlled by The Scout A550clation County of Blrmingham. The Scout Assoclation County of Birmingham is a charlty registered in England and Wales (Charity number: 5245661. The Scout A550ciation - County of Birmingham prepared con5011dated financial statements whlch are available from the Charity Commission. Page 37