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← Fundatia Adept Limited

2024-12-31-accounts

COMPANY REGISTRATION NUMBER: 05819197 CHARITY REGISTRATION NUMBER: 1121371

FUNDATIA ADEPT LIMITED COMPANY LIMITED BY GUARANTEE UNAUDITED FINANCIAL STATEMENTS 31 DECEMBER 2024

MEADOWS & CO LIMITED

Chartered Accountants Headlands House 1 Kings Court Kettering Parkway Kettering NN15 6WJ

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

PAGE
Trustees' annual report (incorporating the director's report) 1
Independent examiner's report to the trustees 7
Statement of financial activities (including income and expenditure account) 8
Statement of financial position 9
Notes to the financial statements 10

Page 1

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)

YEAR ENDED 31 DECEMBER 2024

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the company for the year ended 31 December 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name Fundatia Adept Limited Charity registration number 1121371 Company registration number 05819197 Principal office and registered Upper Leigh Farm office Leigh Lane East Knoyle Salisbury SP3 6AP THE TRUSTEES Dr J Akeroyd (Scientific Adviser) Mr M Fried (Trustee) Mr N Ratiu (Chairman of Trustees) Mr T Scott Bolton (Trustee) Mrs L Kinmonth (Trustee) Ms L Balint (Trustee) Dr O Mountford (Trustee) Mr N Page (Director and Founder)

COMPANY SECRETARY Mr N Page INDEPENDENT EXAMINER Mr D H Kelland Headlands House 1 Kings Court Kettering Parkway Kettering NN15 6WJ

Page 2

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)

YEAR ENDED 31 DECEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Fundatia ADEPT Ltd (hereafter ADEPT Ltd) is a charitable company limited by guarantee, incorporated on 17th May 2006 and registered as a charity on 25th October 2007. The company was established under a Memorandum of Association that established the objects and powers of ADEPT Ltd and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute and amount not exceeding £10.

Recruitment and Appointment of Management Committee

The Management Committee seek to ensure that the needs of ADEPT Ltd are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees, ADEPT Ltd has sought to identify individuals who would be willing to become trustees and use their experience to enhance ADEPT Ltd. In order to develop a broad skill mix, the trustees are requested to provide a list of their skills and in the event of a key skill being absent, individuals are approached to offer themselves for election to the Management Committee. There have been no changes during 2018.

Trustee Induction and Training

The trustees are already familiar with the practical work of ADEPT Ltd. New trustees are invited and encouraged to visit Romania to gain first hand experience of the activities of ADEPT Ltd. The Charities Commission's guide "the Essential Trustee" is also provided.

Risk Management

The Management Committee has conducted a review of the major risks to which ADEPT Ltd is exposed. Where appropriate systems or procedures have been established to mitigate the risks ADEPT Ltd faces. These procedures are periodically reviewed to ensure that they continue to meet the needs of ADEPT Ltd.

Related Parties

The activities of ADEPT Ltd are combined with that of Fundatia ADEPT Transilvania, a separate charity registered in Romania with identical objectives. Much of the finance raised for the implementation of the ADEPT objectives and activities is raised in Romania. The directors in Romania are Cristi Gherghiceanu, Nat Page and Razvan Popa. ADEPT Ltd supports the Barbara Knowles Fund (BKF), which shares the same objectives, by acting as a Gift Aid-eligible channel for donations to BKF. This is in accordance with Charities Commission guidelines.

Organisation Structure

ADEPT Ltd has a Management Committee of up to ten members who meet twice per year and are responsible for the strategic direction and policy of the charity. At present the Management Committee has six trustees from a variety of professional backgrounds relevant to the work of ADEPT Ltd. The founding director also sits on this committee but is not a trustee. ADEPT's chief scientist John Akeroyd also regularly attends meetings, and other specialist advisers are invited to attend meetings from time to time. Responsibility for day-to-day management of ADEPT Ltd is with the founding director. The project is increasingly managed by ADEPT staff in Romania, with less time required from UK management. The Romanian ADEPT team has built capacity through experience and through training courses.

Page 3

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)

YEAR ENDED 31 DECEMBER 2024

OBJECTIVES AND ACTIVITIES

OBJECTIVES

The registered spheres of work of ADEPT Ltd are: providing benefit to society worldwide, and providing education, training and the dissemination of information about conservation linked to community prosperity and sustainable economic development, leading to viability of small-scale farming communities.

The principal activities of ADEPT Ltd in the year under review were to encourage and provide support for all aspects of Fundatia ADEPT Transilvania, Romania, which exactly shares ADEPT Ltd objectives.

ADEPT Ltd has the following objectives:

ADEPT continues to have a major impact on Policy, Nature Conservation and Poverty Alleviation in Romania. It has laid the groundwork for recognition of the importance of the High Nature Value (HNV) farmed landscapes of SE Transylvania. ADEPT remains the leading NGO promoting the understanding of the natural, cultural and economic importance of HNV grassland in Romania.

Page 4

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)

YEAR ENDED 31 DECEMBER 2024

ACHIEVEMENTS AND PERFORMANCE

UK ACTIVITIES

On 19 November 2024 ADEPT UK held an event to celebrate 20 years since its registration in UK and Romania. The event was kindly supported by a £6,300 grant from LGT Wealth Management, and by donations of wine from Prince Stirbei and water from Acqua Carpatica. Over 150 people attended the event at the Romanian Cultural Centre, kindly hosted by ADEPT Chairman of Trustees Nicolae Ratiu. The intention of the event was to thank friends an supporters, not to raise funds directly. It was a very successful event, allowing us to make contact with and acknowledge our many UK-based supporters.

Trustees' meetings

  1. Trustees' meetings was held on

  2. 19 June 2024 in Apold. Attending in person were Trustees: Nicolae Ratiu (Chairman), Tim Scott Bolton, Libby Kinmonth, Owen Mountford, Lenke Balint, Moritz Fried. Plus Directors: Nat Page, Cristi Gherghiceanu, Razvan Popa, Laura Chirila-Pasca and Ben Mehedin.

  3. 2 November 2024: Libby Kinmonth, Nicolae Ratiu, Tim Scott Bolton, Nat page to discuss the 19 November event in London.

ROMANIA ACTIVITIES

 ADEPT's 100km Transylvania Bike Trail (TBT) mountain bike trail, linking Sighisoara with 7 villages in the area, continues to be in successful operation with local visitors. Very successful annual TBT competition in August, over 1,000 participants.

 Sigrid Rausing Trust (SRT) generously donated £220,000 to ADEPT Romania as part of a new 3-year grant of £220,000 per year for core funding support, for period 2024-27.

 EU LIFE grant approved in June 2022 in under way. It is a 7-year grant for butterfly conservation, covering 9 different natura 2000 sites across Transylvania. ADEPT is a partner in the project with Slovakian NGO BROZ. Total project value is €731,000, of which EU pays 60% (€438,000), and ADEPT and co-financers including SRT and Black Sea Oil and Gas pay 40% (€293,000).

 A new LIFE grant was approved in June 2024 in under way. It is a 7-year grant focused on restoration of priority grassland habitats in Romania. It brings innovative mapping and restoration techniques which will have wide and long-lasting impact after project end. It will target 4 grassland habitats in 3 regions. In addition, it will demonstrate, and leave capacity for, harvesting of seeds from priority habitats, and reseeding in protected grasslands. ADEPT is again a partner with Slovakian NGO BROZ. Total project value is €1,547,841, of which EU pays 75% (€1,160,880), and ADEPT and co-financers including SRT and Black Sea Oil and Gas pay 25% (€386,969).

 ADEPT is also a partner in four EU Horizon projects 100% financed by the EU: EUNetHorse (2022-2027), Climate Smart Advisors (2022-2025), and just started this year DigiRangelands (2024-2028) and FarmBioNet (2024-2027).

 The Angofa Aberdeen Angus herd and associated management has had a significant measurable benefit to grassland biodiversity. Grassland restored in previous years in Angofa show floristic richness increased in the haymeadows by over 12%, and in pastures by a remarkable 30% (based on expert surveys). The herd is also profitable.

 The Saschiz ceramics centre and the Angofa Wildlife Centre are well established and operating smoothly and financially sustainably.

Page 5

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)

YEAR ENDED 31 DECEMBER 2024

 The baseline studies for the Biodiversity and Carbon Credit schemes in Târnava Mare grasslands were repeated in 2023 as a result of changes required to the methodology, financed by SRT. The credits were launched on the market launch in November 2024.

 2024 saw the restart of the collaboration with Operation Wallacea in the use of the Angofa Wildlife Centre as a visitor centre and a biodiversity data collection. This will bring in some visitor income.

FINANCIAL REVIEW

Principal Funding Sources

ADEPT Ltd income was total £40,987.08 mainly consisting of:

ADEPT expenditure was £43,327.71 of which main payments were:

PLANS FOR FUTURE PERIODS

  1. Effective management of 6 EU projects.

  2. Developing Biodiversity and Carbon Credit schemes in Târnava Mare grasslands. Next step is marketing of firstvalley before we replicate in other valleys.

  3. Developing the Angofa herd, school and farmhouse, now under management of new employee.

  4. We will work across several valleys including Angofa and Viscri to collect long term biodiversity data linked to land management.

  5. Using the data collected to improve local management, and also to extend good management practices and influence national policy.

Investment Policy

Aside from the aim of retaining a prudent amount in reserves, ADEPT Ltd funds are spent in the short term, so there are no funds for setting up a long-term fund.

Page 6

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)

YEAR ENDED 31 DECEMBER 2024

PLANS FOR FUTURE PERIODS (continued)

Reserves Policy

The board of Trustees has examined ADEPT Ltd's requirements for reserves. Fundatia ADEPT activities are increasingly funded and managed within Romania. It is important to continue to raise charitable funds in the UK, but the ability to create reserves remains unlikely.

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 24 September 2025 and signed on behalf of the board of trustees by:

Mr N Page (Director and Founder) Director

Page 7

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FUNDATIA ADEPT LIMITED

YEAR ENDED 31 DECEMBER 2024

I report to the trustees on my examination of the financial statements of Fundatia Adept Limited ('the company') for the year ended 31 December 2024.

RESPONSIBILITIES AND BASIS OF REPORT

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr D H Kelland Independent Examiner

Headlands House 1 Kings Court Kettering Parkway Kettering NN15 6WJ

24 September 2025

Page 8

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 DECEMBER 2024

2024 2023
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 5 30,744 – 30,744 74,914
Charitable activities 6 10,255 – 10,255 12,544
---------------------------- -------------- ---------------------------- ----------------------------
Total income 40,999 – 40,999 87,458
============================ ============== ============================ ============================
Expenditure
Expenditure on charitable activities 7,8 32,496 11,391 43,887 116,046
---------------------------- ---------------------------- ---------------------------- --------------------------------
Total expenditure 32,496 11,391 43,887 116,046
============================ ============================ ============================ ================================
---------------------------- ---------------------------- ---------------------------- --------------------------------
Net expenditure and net movement in
funds 8,503 (11,391) (2,888) (28,588)
============================ ============================ ============================ ================================
Reconciliation of funds
Total funds brought forward 6,975 11,391 18,366 46,954
---------------------------- ---------------------------- ---------------------------- --------------------------------
Total funds carried forward 15,478 – 15,478 18,366
============================ ============================ ============================ ================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 10 to 16 form part of these financial statements.

Page 9

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2024 31 DECEMBER 2024 31 DECEMBER 2024
2024 2023 2023
Note £ £ £ £
FIXED ASSETS
Tangible fixed assets 14 2,927 3,444
CURRENT ASSETS
Cash at bank and in hand 13,633 15,962
CREDITORS: amounts falling due
within one year 15 1,082 1,040
---------------------------- ----------------------------
NET CURRENT ASSETS 12,551 14,922
---------------------------- ----------------------------
TOTAL ASSETS LESS CURRENT
LIABILITIES 15,478 18,366
============================ ============================
FUNDS OF THE CHARITY
Restricted funds – 11,391
Unrestricted funds 15,478 6,975
---------------------------- ----------------------------
Total charity funds 16 15,478
============================		 18,366
============================

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

These financial statements were approved by the board of trustees and authorised for issue on 24 September 2025, and are signed on behalf of the board by:

Mr N Page (Director and Founder) Director

The notes on pages 10 to 16 form part of these financial statements.

Page 10

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. GENERAL INFORMATION

The company is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Upper Leigh Farm, Leigh Lane, East Knoyle, Salisbury, SP3 6AP.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. ACCOUNTING POLICIES

Public benefit

The Trustees of Fundatia Adept Ltd understand the need to have regard to the Charity Commission's guidance on public benefit.

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

(a) No cash flow statement has been presented for the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Page 11

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2024

3. ACCOUNTING POLICIES (continued)

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Page 12

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2024

3. ACCOUNTING POLICIES (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

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

Leasehold property - 10% straight line
Equipment - 15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Page 13

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2024

4. LIMITED BY GUARANTEE

Members of the charitable company guarantee to contribute an amount not exceeding £10 to the assets of the charitable company in the event of winding up.

5. DONATIONS AND LEGACIES

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
DONATIONS
Naturanda 4,381 – 4,381
General donations 26,363 – 26,363
---------------------------- -------------- ----------------------------
30,744 – 30,744
============================ ============== ============================
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
DONATIONS
Naturanda 36,934 – 36,934
General donations 26,589 11,391 37,980
---------------------------- ---------------------------- ----------------------------
63,523 11,391 74,914
============================ ============================ ============================

6. CHARITABLE ACTIVITIES

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
HMRC VAT refunds 10,255 10,255 12,544 12,544
============================ ============================ ============================ ============================

7. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Romanian Project 31,206 11,391 42,597
Support costs 1,290 – 1,290
---------------------------- ---------------------------- ----------------------------
32,496 11,391 43,887
============================ ============================ ============================
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Romanian Project 114,801 – 114,801
Support costs 1,245 – 1,245
-------------------------------- -------------- --------------------------------
116,046 – 116,046
================================ ============== ================================

Page 14

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2024

8. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE

Activities
undertaken Support Total funds Total fund
directly costs 2024 2023
£ £ £ £
Romanian Project 42,597 1,290 43,887 116,046
============================ ======================= ============================ ================================
9. ANALYSIS OF SUPPORT COSTS
Support
costs Total 2024 Total 2023
£ £ £
Depreciation 517 517 716
Accountancy 1,290 1,290 1,245
----------------------- ----------------------- -----------------------
1,807 1,807 1,961
======================= ======================= =======================
10. NET EXPENDITURE
Net expenditure is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible fixed assets 517 606
============== ==============
11. INDEPENDENT EXAMINATION FEES
2024 2023
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 1,290
=======================		 1,245
=======================

12. STAFF COSTS AND EMOLUMENTS

The average head count of employees during the year was 1 (2023: 1). The average number of full-time equivalent employees during the year is analysed as follows:

2024 2023 No. No. Management 1 1 ============== ==============

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

13. TRUSTEE REMUNERATION AND EXPENSES

During the year the company paid fees and expenses to Mr N Page (a director but not a Trustee) amounting to £15,760, of which all relates to fees (2023 - £13,500).

Page 15

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2024

14. TANGIBLE FIXED ASSETS

Long
leasehold
property Equipment Total
£ £ £
Cost
At 1 January 2024 and 31 December 2024 93,321 23,738 117,059
============================ ============================ ================================
Depreciation
At 1 January 2024 93,321 20,294 113,615
Charge for the year – 517 517
---------------------------- ---------------------------- --------------------------------
At 31 December 2024 93,321 20,811 114,132
============================ ============================ ================================
Carrying amount
At 31 December 2024 – 2,927 2,927
============================ ============================ ================================
At 31 December 2023 – 3,444 3,444
============================ ============================ ================================
15. CREDITORS: amounts falling due within one year
2024 2023
£ £
Other creditors 1,082 1,040
======================= =======================

16. ANALYSIS OF CHARITABLE FUNDS

Unrestricted funds

At At
1 January 20 31 Decembe
24 Income Expenditure Transfers r 2024
£ £ £ £ £
General funds 6,975 40,999 (32,496) – 15,478
======================= ============================ ============================ ============== ============================
At At
1 January 20 31 December
23 Income Expenditure Transfers 2023
£ £ £ £ £
General funds 19,450 76,067 (116,046) 27,504 6,975
============================ ============================ ================================ ============================ =======================

Page 16

FUNDATIA ADEPT LIMITED

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2024

16. ANALYSIS OF CHARITABLE FUNDS (continued)

Restricted funds

Restricted funds
At At
1 January 20 31 Decembe
24 Income Expenditure Transfers r 2024
£ £ £ £ £
European Outdoor
Conservation Assoc 11,391 – (11,391) – –
Barbara Fund – – – – –
---------------------------- -------------- ---------------------------- -------------- --------------
11,391 – (11,391) – –
============================ ============== ============================ ============== ==============
At At
1 January 20 31 December
23 Income Expenditure Transfers 2023
£ £ £ £ £
European Outdoor
Conservation Assoc – 11,391 – – 11,391
Barbara Fund 27,504 – – (27,504)
–
---------------------------- ---------------------------- -------------- ---------------------------- ----------------------------
27,504 11,391 – (27,504)
11,391
============================ ============================ ============== ============================ ============================

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Tangible fixed assets 2,927 – 2,927
Current Assets 13,633 – 13,633
Creditors less than 1 year (1,082) – (1,082)
---------------------------- -------------- ----------------------------
Net assets 15,478 – 15,478
============================ ============== ============================
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Tangible fixed assets 3,444 – 3,444
Current Assets 3,531 11,391 14,922
Creditors less than 1 year – – –
----------------------- ---------------------------- ----------------------------
Net assets 6,975 11,391 18,366
======================= ============================ ============================

Fundatia Final accounts 2024

Final Audit Report

2025-09-29

Created: 2025-09-29 By: David Kelland (david.kelland@meadows-co.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAaorYebO6QtdyoKfIfdE30d3IMJQfEo5V

"Fundatia Final accounts 2024" History

Document created by David Kelland (david.kelland@meadows-co.co.uk)

2025-09-29 - 15:42:29 GMT- IP address: 31.220.212.217

Document emailed to Nathaniel Page (npage@copac.org.uk) for signature

2025-09-29 - 15:42:35 GMT

Email viewed by Nathaniel Page (npage@copac.org.uk)

2025-09-29 - 16:14:29 GMT- IP address: 138.124.168.81

Document e-signed by Nathaniel Page (npage@copac.org.uk)

Signature Date: 2025-09-29 - 16:23:41 GMT - Time Source: server- IP address: 138.124.168.81

Agreement completed.

2025-09-29 - 16:23:41 GMT