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2021-03-31-accounts

OutdoorLads Ltd

Company Limited by Guarantee

Unaudited Financial Statements For the Year Ended 31 March 2021

Registration Number: 06589498 Charity Registration Number: 1133121

OutdoorLads Ltd Company Limited by Guarantee Financial Statements Year Ended 31 March 2021

Contents
Page No.
Company Information 1
Introduction from the Chairman 2
Trustees Annual Report (incorporating the Directors’ Report) 3 - 10
Independent Examiner’s Report to the Trustees 11
Statement of Financial Activities (including Income and Expenditure Account) 12
Statement of Financial Position 13
Notes to the Financial Statements 14 - 21
The following pages do not form part of the statutory accounts
Detailed Income & Expenditure Account 22 - 23

OutdoorLads Ltd Company Limited by Guarantee Introduction from the Chairman For the year ended 31 March 2021

Trustees

Steven Allan Daniel Barcroft Danny McKeown -Henshall - Vice Chairman Jonathan Moore (resigned 8 April 2020) Neil Sharp Matt Tennant - Chairman Simon Francis William Hawthorn - (appointed 21 September 2020) James William Brash (resigned 29 December 2020) Danny Ballantyne Fergus James Brunning Edward Alexander Youngman (resigned 4 May 2021) Gavin John Bridge - (appointed 21 September 2020)

Company Secretary

Liam Russell

Registered Office

Accountants

Suite 440 Beever and Struthers Royal Exchange Chartered Accountants Manchester Suite 9b M2 7EP The Beehive Lions Drive Shadsworth Business Park Blackburn BB1 2QS

Independent Examiner

Adam Thom FCA (ICAEW)

Bankers

Charities Aid Foundation Bank 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ

Aldermore Bank Plc 1[st] Floor, Block B, Western House Lynch Wood Peterborough PE2 6FZ

Page 1

OutdoorLads Ltd Company Limited by Guarantee Introduction from the Chairman For the year ended 31 March 2021

The coronavirus global pandemic of 2020 and 2021 has created unprecedented challenges to us as individuals; to our employment, our communities, our country and the world we live in. OutdoorLads was not exempt from the impact COVID-19 had on the UK, and for the first time since the charity’s conception in 2007, in March 2020 our event programme was put on hold. At the time of writing this report, the UK is on the cusp of restrictions being lifted and OutdoorLads can start to look to the future.

The AGM and the annual report is our chance to reflect on how OutdoorLads has performed over the last 12 months; what have we achieved, what the challenges facing the charity are and what the opportunities for us looking to the future are. The annual report this year will focus on three key areas. Our events, our volunteers, our members. These three elements are critical to OutdoorLads. A single element cannot exist without the other two. In each section of the report, we will outline how we have done in that area over the last 12 months and what we hope to achieve in the next 12 months.

I will begin the 2021 annual report with my reflections of the key challenge of the last year, the global pandemic.

The foundations of OutdoorLads are built on community and togetherness. The experiences, friendship, connectivity and enjoyment of OutdoorLads comes from bringing people together to have a great time. It is why after 15 years we are still here and we are still needed. I reflect on the cruel irony of the pandemic, that whilst lockdown and isolation were aimed, quite rightly, at keeping us safe from the virus, a by-product has been over a year of isolation and not being able to connect with our friends and loved ones. Another by-product of the virus for me is the absolute clarity that OutdoorLads is still needed today. The desire and readiness of our leaders to run over 560 #StayInMore events; start putting on Micro-events, then full day walks, climbs, camping and hostels is testimony to our volunteers and their commitment to the organisation; the demand for our events from our members since the restrictions have lifted has been enormous.

I will need to give a special mention to the staff team of OutdoorLads who throughout the pandemic have kept the charity going behind the scenes. Our team have moved both on and off the furlough scheme since March 2020 and have endured a very challenging period. Their hard work and continued professionalism at a time of adversity is commendable and I give my thanks to them for helping OutdoorLads come out the other side of the pandemic in one piece.

Since March 2020 and into 2021, the Trustees have managed the impact on OutdoorLads closely. Particular attention was put on our finances, as our major income generation sources could not run. A combination of tight financial management, identifying cost reduction strategies, and successfully managing our external suppliers were key contributors to mitigating the losses caused by the pandemic. However, what kept OutdoorLads going was our members. Though some OutdoorLads members did not renew their membership, the vast majority stayed with us. This membership income kept us going. For that, I am eternally grateful to everyone who renewed their membership. OutdoorLads is nothing without our members and the last 12 months has been a case in point to that.

The global pandemic, however, has not been the only thing keeping us busy in the last 12 months. In the Summer and Autumn of 2020, OutdoorLads changed insurance providers. This change presented the organisation a number of logistical challenges from updating risk assessments, reconsidering the leader application system and ensuring we have the right level of expertise in the organisation. An extraordinary effort from a small group of individuals ensured we were ready for the implementation when our events schedule recommenced in the Spring of 2021.

At the beginning of 2021, the attention of the Trustee’s turned to looking at life after lockdown. The Trustees alongside our regional organisers identified three key aims of the organisation: Re-establish the event programme, re-engagement with our members, run income generating BIG Events. These three themes have underpinned all of our activity to date in 2021 and remain our priorities for the remainder of this year.

Both 2020 and 2021 for many of us will be remembered as the some of the most challenging times we’ve experienced. I think it has also shown the best of what OutdoorLads members, leaders and volunteers can do in the most challenging circumstances. On behalf of the Trustee Board of OutdoorLads I would like to give my thanks for the continued dedication of our members, volunteers, staff and supporters who kept OutdoorLads going through 2020 and 2021. Your support and passion for the charity continues to amaze me and gives us the best possible opportunity to continue our successes beyond this pandemic and into the future.

Matt Tennant Chairman

Page 2

OutdoorLads Ltd Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Directors’ Report) For the year ended 31 March 2021

The trustees, who are also the directors of the charitable company, present their annual report and the financial statements for the year ended 31 March 2021.

The Charity is commonly known as OutdoorLads.

Structure Governance and Management

The Board of Trustees is drawn from the membership and reports to the Annual General Meeting of OutdoorLads. In line with our Articles of Association, all Trustees are unpaid volunteers.

The Board has overall responsibility for the work of OutdoorLads, in particular, setting strategy, direction, and targets. The Board of Trustees delegates day-to-day management of the organisation to three staff. Events are managed by appointed volunteer leaders. Leaders are managed on a regional basis by Regional Coordinators, appointed by the Board of Trustees.

Governing Document

The Charity, which is also a company limited by guarantee, is governed by its Memorandum and Articles of Association as amended 21 September 2019.

Appointment of Directors and Trustees

The Board of Trustees has ten members at 31 March 2021, of these, three are office bearers; Chair, Vice-Chair, and Treasurer. The Company Secretary is a member of staff. Trustee appointments are for a term of three years. Coopted Board members are subject to ratification by the membership at the following AGM to the co-option.

If required, Trustees receive external training in accordance with guidelines set down by the National Council for Voluntary Organisations.

Risk management

The Board have identified the major risks, both financial and other, facing the charity and have taken the appropriate action to mitigate those risks.

Related party transactions

Details of related party transactions are set out in note 20 to the financial statements. The Trustees participate in the activities of OutdoorLads on the same terms and conditions as other members.

Declarations of Conflict of Interest

The Board maintains its legal duty in managing conflicts of interest. These Conflicts are recorded in the organisational risk register and regularly reviewed. The Board maintains two ‘active’ conflicts of interest through Connected Individuals of Trustees: Steven Allan, and Dan Barcroft.

Page 3

OutdoorLads Ltd Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Directors’ Report) For the year ended 31 March 2021

Objectives and Activities

The charity’s objectives are:

“To promote for the benefit of the inhabitants of the UK, in particular but not exclusively, gay, bisexual, transsexual and transgender communities, without distinction of sex, sexual orientation, race, political, religious or other opinions, by associating together the residents of the area of benefit, the local and the public authorities, voluntary and other organisations in a common effort to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants.

To promote equality and diversity and to eliminate discrimination in relation to gay, bisexual, transsexual, and transgender persons by advancing education and raising awareness of issues affecting said persons.”

The Mission of OutdoorLads:

The get more Gay, Bi and Trans men into the Outdoors.

Page 4

OutdoorLads Ltd Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Directors’ Report) Year ended 31 March 2021

Our Events

Activities to end March 2021

The Coronavirus pandemic has had an unprecedented impact on OutdoorLads and our ability to run the charities events. In March 2020, the Trustees took the difficult decision to cancel and postpone all OutdoorLads events. The constantly changing landscape of restrictions has meant that OutdoorLads has to change our events frequently, and often at very short notice.

We have been working closely with our event suppliers, YHA, National Trust and independents, to move bookings from 2020 into 2021 and 2022. We have been almost entirely successful in re-arranging events into 2021 and 2022 with no or little loss of deposit.

The charity ran over 784 events during April 2020- March 2021, of which
the followingnumber ofprimaryactivities tookplace:		 Year to March 2021 Year to March
2020
#StayInMore 561 N/A
Daywalks(includingMicro-events) 188 445
Hostel and campingweekends 4 91
Climbingevents 6 464
Cyclingevents 21 105
Watersports 0 22
Social evenings 4 202
Outside UK 0 5
BIG Events 0 5
Within this range of activities 23,303 event places were attended by our
members (up from 16,866 in 2020), including:
Number of eventplaces attended		 Year to March 2021 Year to March
2020
#StayInMore 20,905
Daywalks(includingMicroevents) 2,055 4,859
Hostel weekends and camping 74 1,605
Climbingevents 46 3,398
Cyclingevents 130 659
Watersports 0 180
Social evenings 93 2,748
Outside UK 0 115
BIG Events 0 1,098

Page 5

OutdoorLads Ltd Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Directors’ Report) Year ended 31 March 2021

Looking Forward to 2021/2022 for our events:

Our Volunteers

Volunteers

Volunteers continue to make an invaluable contribution towards the life and work of OutdoorLads and support a wide range of activities behind the scenes, as well as face-to-face with members. Volunteers still run all OutdoorLads activities with the exception of some specialist sports where OutdoorLads does not have the required equipment/insurance/in-house trained expertise to run the event.

The number of volunteers in the year was 294, an increase of 10 from the figure reported last year, despite the effects of the pandemic. Recruiting and retaining leaders is crucial to the success of the group and numbers continue to see growth, with one Trustee specifically responsible for supporting our volunteers.

Summary of key activity:

In September 2020 OutdoorLads changed our third-party liability insurance provider to Activities Industry Mutual. The change required OutdoorLads to review and implement several new policies including:

We give our thanks to a number of individuals who helped develop these processes and procedures ahead of the relaunch of our events in March 2021. We extend our thanks to Nick Reid who serves as the technical advisor to the board on such matters.

New Leaders, Training and Development

Despite OutdoorLads activity programme being limited from March 2020 to March 2021, we received 56 new leader applications. 19 new leaders were even approved (even during the pandemic).

In the lead up to restarting our events in the Spring of 2021, we ran four first aid courses to support leaders.

Looking forward to 2021 and 2022 for our leaders:

Page 6

OutdoorLads Ltd Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Directors’ Report) Year ended 31 March 2021

Page 6

OutdoorLads Ltd Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Directors’ Report) Year ended 31 March 2021

Our Members

Full Members: 1212, Concession members: 66, Pay As You Go: 6503.

Having surveyed its members in August 2019 and 2020, once again, the charity
is able to demonstrate its success:
Percentage of Full Members who agree with thefollowing statement:		 July
2021		 August 2020 August
2019
I feel more energised andpositive after an OutdoorLads event. 78% 88% 78%
I have made new friends through OutdoorLads 70% 83% 80%
OutdoorLadsprovidespositive role models forgaymen. 75% 74% 74%
I amproud to be a member of OutdoorLads. 72% 79% 72%
I feel morepart of a community. 66% 73% 72%
I feel less isolated. 63% 65% 66%
I have enjoyed 'givingsomethingback' to thegroup. 48% 57% 53%
OutdoorLads events are fun. N/A 93% 92%
OutdoorLads isprofessionallyrun. N/A 90% 88%
OutdoorLads is friendlyand welcoming. N/A 89% 87%
OutdoorLads allows me to trynew things. N/A 88% 86%
I am fitter. N/A 58% 59%
I feel morepositive about the future. N/A 60% 59%
I feel excited togo on a OutdoorLads events after the restrictions have lifted 83% N/A N/A

Looking forward to 2021/2022 for our members:

Page 7

OutdoorLads Ltd Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Directors’ Report) Year ended 31 March 2021

Actions Update from 2020 AGM:

Insurance implementation

In September 2020, OutdoorLads changed insurance providers. Our public liability insurance is now provided by Activities Industry Mutual (AIM). AIM are an insurance cooperative that offer specialist insurance to a range of activity providers. AIM’s specialist knowledge of the outdoors sector makes them an excellent partner for OutdoorLads activity. The implementation of the new insurance arrangements required OutdoorLads to renew our risk assessments, develop a new process for leader sign-off and bring in some in-house expertise to help with leader approval. The Board of Trustee’s would like to extend our thanks to Nick Reid who took on the position of Technical Advisor to the Board.

Price review

Since the AGM in 2020, work has been taking place to build the foundations of a price review for how OutdoorLads charges for membership and events. Dave Banks has been supporting the group by building a tool that allows the charity to calculate both an accurate profit and loss from the events we run, alongside factoring in staff and overheads costs. This tool will be of great assistance in helping to ensure that the charity is running events in a cost effective, but value for money basis for our members. The next stage of this project, taking into consideration other changes to our VAT position is to consider how events should be priced in the medium-long term.

Equality and Diversity Group

An initial workshop was held and identified a number of actions to be undertaken. These included a Terms of Reference, training for the board to include unconscious bias and equalities, access to training for volunteers and a formalised group to work with the board and other sub-groups to address improvement to access, equality and inclusivity of our events. Whilst this work has had a number of delays related to resourcing, Covid-19 challenges and personal circumstances, a Terms of Reference has been drafted for approval by the Board and a number of training options identified. A new group will be formed following adoption of these to help advise the group on improvements to equality and diversity.

Operations Sub-Committee

The Operations Sub-Committee is a formal sub-committee of the Board of Trustees.

The Operations Sub-Group discusses policies and/or operational matters regarding the charity. During the period of March 2020-2021, the Sub-Group discussed the following business: Insurance Implementation, COVID-19 restrictions, forecast and budget, the reserves policy, annual membership price rise and leader credits.

Communications and Marketing Sub-Committee

The Communications and Marketing sub-committee is a small team of expert volunteers that advise OutdoorLads on marketing strategies, PR, and GDPR. The group also provide expert technical advice to the office team. The group formed in June 2020, holding regular meetings with the three recurring objectives: membership retention, recruitment, and re-engagement of lapsed members. Moving on from the pandemic-related social restrictions, the group have now agreed to operate on an ad-hoc basis to provide expert support when needed, with quarterly meetings to review activities completed to date, set new strategic objectives, and offer advice and guidance to the office team.

Page 8

OutdoorLads Ltd Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Directors’ Report) Year ended 31 March 2021

Financial Review 2020-2021

Overview

The financial year to the end of March 2021 may well have been OutdoorLads’ most challenging. We started the financial year with free reserves at only 19% of our stated long-term target. Furthermore, income from events dramatically decreased. However, due to a number of positive external factors and actions taken by the Board and our staff, our financial position actually improved during the financial year.

The Board, supported by our staff, took action to decrease discretionary spending such as IT, training and rent. The charity also made the most of the UK Government’s furlough scheme. Furlough will continue to benefit OutdoorLads during the current financial year but it has obviously had an adverse financial impact on our staff.

The most important contribution to our financial health came from OutdoorLads’ members. Although some members decided not to renew their annual membership, most stuck with us. Many members also decided to make charitable donations to OutdoorLads. The Board is incredibly grateful for this strong level of support from the members.

Performance

Gross events income dropped 83% to £29,250. Income from membership fees increased by 9% to £64,206 helped by a different VAT treatment for part of the financial year. Furlough grants totalled £24,279. Net profit before depreciation and amortisation was £10,181 (versus a loss of £15,211 for FYE 2/20). After depreciation and amortisation, a small loss of £7,018 was recorded (compared with a loss of £32,120 for FYE 3/20).

VAT

In May 2020, OutdoorLads made a VAT claim of £106,645.63 related to the four years prior on the basis that the charity is primarily a sports club. However, in June 2020, our claim was rejected due to HMRC taking the view that OutdoorLads is a social club.

We immediately appealed but it took until May 2021 before we received a reply. Due to the nearly 1-year delay, HMRC decided to approve the requested refund but without fully considering the substance of our claim. A followup letter was received from HMRC in June 2021 which confirmed the refund but it also made clear that OutdoorLads should charge VAT in respect of events which focus more on the social side than on sports activities.

The Board and our staff are working through the implications of this feedback and are considering how best to minimise our VAT exposure. The Board will obviously make sure that the VAT refund, and any future VAT benefits, will be used to further OutdoorLads’ aims for the benefit the members.

Reserves and Reserves Policy

OutdoorLads started the financial year with free reserves (net current assets less restricted funds) of only £13,244 compared with our target of £70,000. The position, however, improved and by the end of March 2021, our free reserve had increased to £22,209.

Following the receipt of the VAT refund, OutdoorLads’ free reserves are, as of September 2021, fully funded.

Looking Forward

Although the VAT refund has improved OutdoorLads’ financial position, the charity continues to be adversely impacted by the pandemic. Only a very limited events programme was possible during the first quarter of FYE 3/22 and, as a result, Big Spring Camp (which, from a financial perspective, is our most important event), could not take place. For the full financial year, the number of paid-for events spaces will be materially lower compared with a typical year.

Page 9

OutdoorLads Ltd Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Directors’ Report) Year ended 31 March 2021

Public Benefit

In setting our objectives, carrying out our activities for the year and looking further ahead, the Board have considered the Charity Commission’s guidance on public benefit, including guidance on public benefit and fee-charging. The Charity relies on income from fees and charges to cover its operating costs. In setting the level of fees, charges, and concessions, the Board give careful consideration to the accessibility of those on low incomes.

On top of the health and wellbeing benefit of the charity’s events our pricing structure, including Concession Membership, is designed to make the events affordable to as wide a range of participants as possible. In addition, the OutdoorLads Foundation provides financial support to those who may still be unable to afford membership or participation in our paid events. Due to the pandemic and the loss of our events programme, the Foundation did not provide financial support to any individuals during the financial year.

Small Company Provisions

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

Independent Examiner

Adam Thom has been re-appointed as independent examiner for the ensuing year.

Approved by the Board and signed on its behalf by:

Matthew Tennant

Chair of the Board of Trustees

Date: 20th September 2021

Page 10

OutdoorLads I,td Coiiipany Liiniled by Gllarantee Independenl Exaininer's Repoi't to the Trustees of OutdoorLads Ltd Year ended 31 Mai'ch 2021 I report to the ts'llstees oi) my examinaiioN of the fjiiancial stateineiits of Outdooi'Lads Limited {"Ihe eharity") for the year ended 31 March 2021. Responslbllitie5 aiid basi5 of iport As the trustees of ihe company (and also ils directors for the purposes of coinpany law) you are responsible for the prep￿.￿lI0n of the fLnancial statemeiits in accordance with the requireinenL% of the Companies Act 2006 ("the 2006 Act"). Having satisfied iLyself that the accounts of the Colllpdny are not reqlliiEd to be audited under Part 16 of the 2006 Act aiid are eligTible foi. iiidep#ndent ex&￿inatiOn, I report in respect of my exillnination nf th¢ chai'ity'% accounts as ¢￿'r1ed out undei. seciioii 145 01. tlie Ch￿'it]eS Act 2011 ("the 2011 Act"). In caii'yiiig out niy exami1121ioiI I haye followed the Direction& given by die Chartty Commission under section 145(5)Ib) of the 201 l Act. Independent examlner's statement I haye Lompleted Iny exan11t￿tIOn. I confllm that no niatters l)ave con)e to my attentian in Connection wilh rhe examinatioll giving me caiLse to believe.. accounling iecords weir noi kept in respeet of the Charity as IEquired by section 386 of the 2(K)6 Act; or 2. the fijrdncial statemeiits do not accord with those i'e¢ords' or 3. the financial 51atenients do noi cornply with the accounting irquiremenls of section 396 of the 2006 Act other than any I'equiiyment Ihal (he accouiits give a'ttue and fair" view which is no( a matter Considered as part of an independent exatninaLiOTh' or the financial stateinents have ien prepared in aceordan¢e with the methods and principlcs of the Siateinent of R￿OMInellded Pi'actiee foi. a¢¢ounting and reportit]g by charities applicable to charities p1'ep￿.lllg Iheii. account5 ID aCLuI'd*￿ee with tlie Fin￿)ciaL Repviiing Siandard appli¢ahle in the UK and Republic of treland (FRS 102). I have no concern8 and have come across no other matiers in connection with the examination to which attention should be di'awn in thi8 report in order to enable a prO￿r understsndillg of the accountg to be iEached. Nttine: Adam Thom RelevaDt professlonal qualificatlon oi, b¢)dy: FCA (ICAEW) AddreNs: Beever & Strulhers The Beehlve Llons Drive Shadsworth Business Park Illackburn BBI 2QS Datt: Page 11

OutdoorLads Ltd Company Limited by Guarantee Statement of Financial Activities (including Income and Expenditure Account) Year ended 31 March 2021

Unrestricted Restricted 2021 2020
Funds Funds Total Funds Total Funds
Notes £ £ £ £
Income from:
Donations 5 6,760 7,483 14,243 4,689
Charitable activities:
Membership and Events Income 6 93,276 - 93,276 268,517
Other Income 6a 24,279 - 24,279 -
Investment income 7 507 - 507 719
Total income 124,822 7,483 132,305 273,925
Expenditure on:
Charitable activities 8
(131,840) (7,483) (139,323) (306,045)
Net (expenditure) and net
movements of funds for the yea r 11 (7,018) - (7,018) (32,120)
Reconciliation of funds
Total funds brought forward as
previously reported 108,602 10,292 118,894 175,898
Prior year adjustment - - - (24,884)
Total funds brought forward as
restated 108,602 10,292 118,894 151,014
Total funds carried forward 101,584 10,292 111,876 118,894

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 14 to 21 form an integral part of the financial statements.

Page 12

OutdoorLads Ltd Company Limited by Guarantee Statement of Financial Position As at 31 March 2021

Company Registration Number: 06589498

Note
Fixed Assets
Intangible fixed assets
12
Tangible fixed assets
13
Current Assets
Stock
Debtors
14
Cash at bank and in hand
Creditors: Amounts falling due within
one year
15
Net Current Assets
Total assets less current liabilities
The funds of the Charity:
Unrestricted funds
17/18
Restricted funds
17/18
Total funds		 £
3,398
39,697
99,270
142,365
(109,864)		 2021
£
79,034
341
79,375
32,501
111,876
101,584
10,292
111,876		 £
3,595
34,243
94,389
132,227
(108,691)
 2020
£
93,541
1,817
95,358
23,536
118,894
108,602
10,292
118,894

For the year ended 31 March 2021 the charity was entitled to exemption for audit under section 477 of the Companies Act 2016 relating to small companies.

Director’s responsibilities:

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

Approved by the Board and signed on their behalf by:

…………………………………………………… Matt Tennant - Chairman

Date: 20 September 2021

The notes on pages 14 to 21 form an integral part of the financial statements

Page 13

OutdoorLads Ltd Company Limited by Guarantee Notes to the Financial Statements For the year ended 31 March 2021

1. Company Information

OutdoorLads Ltd is a private company limited by guarantee, incorporated in England and Wales under the Companies Act. The address of the registered office is given on page 1 of the financial statements. The nature of the Company’s operations and its principal activity is the advancement of health through outdoor activities. The Company is a registered charity, registered in England and Wales (registered number 1133121).

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 Charities Act 2011.

3. Accounting Policies

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

Basis of Accounting

OutdoorLads Ltd meets the definition of a public benefit entity under FRS102. The financial statements have been prepared on the historical cost basis unless otherwise stated in the relevant accounting policy note(s).

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

Going Concern

The Board are confident that the Charity will remain in a positive cash position for the 12 months following the approval of the financial statements. On this basis, the financial statements have been prepared on a going concern basis.

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.

Income

Membership, events income and donations are included in the Statement of Financial Activities (SOFA) in the period to which they relate. Monies received in advance are deferred and included within creditors until the period to which they relate. Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Page 14

OutdoorLads Ltd Company Limited by Guarantee Notes to the Financial Statements For the year ended 31 March 2021

3. Accounting Policies (continued)

Donated Services and Facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, and conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Investment Income

Investment income is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure

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.

Intangible Fixed Assets

Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses. Assets costing less than £300 are not capitalised but written off to revenue in the year of acquisition.

Amortisation

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

Website - over 7 years (from date new site goes live) straight line Software licences - 33.3% straight line

Tangible Fixed Assets

All fixed assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses. Assets costing less than £300 are not capitalised but written off to revenue in the year of acquisition.

Page 15

OutdoorLads Ltd Company Limited by Guarantee Notes to the Financial Statements For the year ended 31 March 2021

3. Accounting policies (continued)

Depreciation

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

Fixtures & fittings - 15% straight line Motor vehicles - 25% straight line

Stock

Stocks are measured 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 the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4.

Limited by Guarantee

The charity is a company limited by guarantee and does not have a share capital. In the event of the charity being wound up, the members are committed to contributing a sum not exceeding £10 each.

Page 16

OutdoorLads Ltd Company Limited by Guarantee Notes to the Financial Statements For the year ended 31 March 2021

Unrestricted
2021
£
Restricted
2021
£
5. Donations
Donations received
6,060
-
Grants received
700
7,483
6,760
7,483.
6. Income from Charitable Activities:
Membership and events
Membership subscriptions
64,206
-
Event activities
29,250
-
Other event income
(313)
-
Other income
133
-
93,276
-
6a. Other Income
Furlough claims
24,279
-		 Total
2021
£
6,060
8,183
14,243
64,206
29,250
(313)
133
93,276
24,279		 Total
2020
£
4,689
-
4,689
58,979
172,655
36,040
843		 Total
2020
£
4,689
-
4,689
268,517
-

7. Investment Income All of the charity’s investment income arises from money held in interest-bearing bank accounts.

8 . Charitable Activities

Direct costs:
Accommodation
Travel
Food, drink and other costs
Online banking charges
Support costs:
Employment costs (Note 9)
Recruitment expenses
Training
Premises
Insurance
Office costs
Travel
Marketing and promotion
Website costs
Management accounts and payroll
Other support costs
Independent examination fees
Bank charges
Donations
Sundry
Board and AGM costs
Legal & professional fees
Depreciation and amortisation		 (829)
-
5,556
2,814
64,611
-
1,615
2,598
4,336
528
60
790
24,612
2,680
963
1,200
446
-
36
-
2,625
17,199
131,840		 -
-
-
-
-
-
-
2,061
708
-
-
-
4,714
-
-
-
-
-
-
-
-
-
7,483		 (829)
-
5,556
2,814
64,611
-
1,615
4,659
5,044
528
60
790
29,326
2,680
963
1,200
446
-
36
-
2,625
17,199
139,323		 80,604
7,893
66,297
3,878
66,467
224
3,255
7,108
2,598
4,954
2,957
2,775
32,215
1,698
1,010
1,200
60
2,140
271
1,532
-
16,909

306,045

Page 17

OutdoorLads Ltd Company Limited by Guarantee Notes to the Financial Statements For the year ended 31 March 2021

9. Staff Costs


Salaries and wages
Social security costs
Employer pension contributions
2021

£
61,332
826
2,453

64,611		 2020
£
62,441
2,143
1,883

66,467

No employee received employee benefits of more than £60,000 during the year (2020: Nil)

The average monthly headcount and the average monthly number of full-time equivalent employees (including casual and part-time staff) during the year were as follows:

Number Number
Administration staff 3 3

10. Trustee remuneration and expenses

The charity trustees, who are also directors in company law and the key management personnel, were not paid or received any other benefits from employment with the charity (2020: Nil). During the year expenses totalling £Nil (2020: £3,472) were paid to the trustees. No charity trustee received payment for professional or other services supplied to the charity (2020: Nil).

11. Net Income for the Year

This is stated after charging: 2021 2020
£ £
Depreciation and amortisation 17,199 16,909
Loss on disposal of fixed assets - -
Independent examination fees 1,200 1,200
12.
Intangible Fixed Assets
Website Total
Cost £ £
As at 1 April 2020 108,845 108,845
Additions 1,216 1,216
Disposals - -
As at 31 March 2021 110,061 110,061
Depreciation
As at 1 April 2020
15,304 15,304
Charge for the year 15,723 15,723
Depreciation on disposals - -
As at 31 March 2021 31,027 31,027
Net Book Value
As at 31 March 2021 79,034 79,034
As at 1 April 2020 93,541 93,541

Page 18

OutdoorLads Ltd Company Limited by Guarantee Notes to the Financial Statements For the year ended 31 March 2021

13. Tangible Fixed Assets

Fixtures,
Fittings &
Furniture
£
Equipment
£
Cost
As at 1 April 2020
3,428
12,678
Additions
-
-
As at 31 March 2021
3,428
12,678
Depreciation
As at 1 April 2020
3,300
10,989

Charge for the year
50
1,426
As at 31 March 2021
3,350
12,415
Net Book Value
As at 31 March 2021
78
263
As at 1 April 2020
128
1,689

2021
£

14. Debtors
Trade debtors
5,023
Other debtors
2,544
Taxation and social security
748
Prepayments and accrued income
31,382
39,697
 Total
£
16,106
-
16,106
14,289
1,476
15,765
341
1,817
2020
£
6,864
1,884
-
25,495
34,243

Included within prepayments is £3,700 (2020 - £Nil) due after more than one year

16. Creditors: amounts falling due within one year
Trade creditors and other creditors
Other creditors and accruals
Deferred income (Note 17)
Taxation and society security		 2021
£
21,911
3,641
84,312
-
109,864
1		 2020
£
23,152
3,843
80,638
1,058

08,691

Page 19

OutdoorLads Ltd Company Limited by Guarantee Notes to the Financial Statements For the year ended 31 March 2021

16. Deferred Income

Deferred income comprises income from annual membership subscriptions received in advance and released as the benefits of membership are utilised and income received upfront from members for advance bookings in respect of events held since the year end.

Membership Events Total
£ £ £
Balance as at 1 April 2020 44,755 35,883 80,638
Amount released to income earned from
charitable activities (44,755) (35,883) (80,638)
Amount deferred in year 41,871 42,441 84,312
Balance at 31 March 2021 41,871 42,441 84,312
7. Statements of Funds
Balance
Balance 1 Incoming Resources 31 March
April 2020 Resources Expended 2021
£ £ £ £
Unrestricted funds 108,602 124,822 (131,840) 101,584
Restricted funds –
Sports England - 7,483
 (7,483) -
Restricted Funds –
OutdoorLads
Foundation
10,292 - - 10,292
Total Funds 118,894 132,305 (139.323) 111,876

17. Statements of Funds

The restricted funds carried forward comprise income and expenditure in relation to the OutdoorLads Foundation formed at the charity’s AGM in 2015. The Foundation has two main purposes:

18. Analysis of Net Assets Between Funds

Unrestricted Restricted Total Funds Total Funds
Funds Funds 2021 2020
£ £ £ £
Fixed assets 79,375 - 79,375 95,358
Current assets 132,073 10,292 142,365 132,227
Creditors amounts falling due
within one year (109,864) - (109,864) (108,691)
Total 101,584 10,292 111,876 118,894

Page 20

OutdoorLads Ltd Company Limited by Guarantee Notes to the Financial Statements For the year ended 31 March 2021

19. Taxation

The charity is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or Section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

20. Related Party Transactions

The charity has contracted services from Linten Technologies Ltd. This company is providing domain renewal and server hosting services. Two Trustees, Daniel Burford and Steven Allan, are directors in this company.

During the year the value of services and goods purchased from Linten Technologies Ltd was £10,138 (2020: £10,329). The amount outstanding at the balance sheet date was £Nil (2020: NIL).

Steven Allen does not have any role in the Board’s decision to use Linten Technologies Ltd. Additionally, OutdoorLads Ltd carries out regular market testing to ensure that the services are being provided at a competitive market rate.

The trustees participate in the events provided by OutdoorLads Ltd on the same terms and conditions as all other members.

Those trustees who are also event leaders may claim expenses on the same basis as other leaders. Any amounts claimed are in addition to the trustees’ expenses shown in note 10.

The following pages do not form part of the statutory accounts

Page 21

OutdoorLads Ltd

Company Limited by Guarantee Detailed Income and Expenditure Account For the year ended 31 March 2021

Note
Unrestricted
2021
£
Income
Membership Subscriptions
64,206
Event activities
29,250
Other Income
(180)
Donations
6,060
Bank Interest receivable
507
Grants received
700
Furlough grants
24,279
124,822
Direct Costs
Accommodation
829
Travel
-
Food, drink and other costs
(5,556)
Online banking charges
(2,814)

(7,541)
Overheads
Salary and employers NIC
(64,611)
Recruitment expenses
-
Travel and Accommodation
(60)
Training
(1,615)
Premises costs
(2,598)
Insurance
(4,336)
Office costs
A
(528)
Other support costs
B
(963)
Marketing and promotion
(790)
Website costs
(24,612
Management
accounts
and
payroll services
(2,680)
Independent examination fees
(1,200)
Board and AGM costs
-
Bank charges
(446)
Donations
-
Sundry
(36)
Legal & professional fees
(2,625)
Depreciation and amortisation
(17,199)
(124,299)
Total Expenditure
(131,840)
Net (Outgoing) Resources
(7,018)		 Restricted
2021
£
-
-
-
-
-
7,483
-
7,483
-
-
-
-
-
-
-
-
-
(2,061)
(708)
-
-
-
(4,714)
-
-
-
-
-
-
-
-
(7,483)
(7,483)
-		 Restricted
2021
£
-
-
-
-
-
7,483
-
7,483
-
-
-
-
-
-
-
-
-
(2,061)
(708)
-
-
-
(4,714)
-
-
-
-
-
-
-
-
(7,483)
(7,483)
-		 Total
2021
£
64,206
29,250
(180)
6,060
507
8,183
24,279
132,305
829
-
(5,556)
(2,814)
(7,541)
(64,611)
-
(60)
(1,615)
(4,659)
(5,044)
(528)
(963)
(790)
(29,326)
(2,680)
(1,200)
-
(446)
-
(36)
(2,625)
(17,199)
(131,782)
(139,323)
(7,018)		 Total
2020
£
58,979
172,655
36,883
4,689
719
-
-
273,925
(80,604)
(7,893)
(66,297)
(3,878)
(158,672)
(66,467)
(224)
(2,957)
(3,255)
(7,108)
(2,598)
(4,954)
(1,010)
(2,775)
(32,215)
(1,698)
(1,200)
(1,532)
(60)
(2,140)
(271)
-
(16,909)
(147,373)
(306,045)
(32,120)


Page 22

OutdoorLads Ltd Company Limited by Guarantee Detailed Income and Expenditure Account For the year ended 31 March 2021

A. Office Costs
Printing and stationery
Postage
Office machine maintenance
Repairs and renewals
Cleaning
Telephone
Room hire

Companies House
B. Other Support Costs
Subscriptions & Membership
Clothing		 2021
£
55
129
-
-
-
456

(125)
13
528

877
86
963		 2020
£
1,230
782
3
2,091
7
841
-
-
4,954
641
369
1,010

Page 23