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← Outdoorlads Limited

2024-03-31-accounts

Company registration number: 06589498 Charity registration number: 1133121

OutdoorLads Ltd

(A company limited by guarantee) Annual Report and Financial Statements

for the Year Ended 31 March 2024

OutdoorLads Ltd

Contents

Reference and Administrative Details 1 to 2
Introduction from the Chair 3 to 4
Trustees' Report 5 to 11
Statement of Trustees' Responsibilities 12
Independent Examiner's Report 13
Statement of Financial Activities 14
Balance Sheet 15 to 16
Notes to the Financial Statements 17 to 27

OutdoorLads Ltd

Reference and Administrative Details

Trustees

Secretary

Rob Mitchell (resigned 07 September 2023, appointed 06 December 2023) Daniel Blackwell (appointed 06 December 2023) David Norris (appointed 06 December 2023) Joe Baley (appointed 06 December 2023) Jake Higgins (appointed 02 June 2023) Peter Walter (appointed 23 September 2023, resigned 06 December 2023) Neil Sharp (appointed 23 September 2023, resigned 06 December 2023) David Lawrence (appointed 23 September 2023, resigned 06 December 2023)

Richard Overton (resigned 08 September 2023) Steven Allan (resigned 23 September 2023) Fergus Brunning (resigned 23 September 2023) Emma Green (resigned 23 September 2023) Simon Hawthorn (resigned 23 September 2023) Christopher Keivit (resigned 23 September 2023) Joseph Payne (resigned 23 September 2023) Liam Russell

Charity Registration Number 1133121 Company Registration Number 06589498 Principal Office Suite 440 Royal Exchange Manchester M2 7EP Independent Examiner Helen Binns FCA Chartered Accountants One Express 1 George Leigh St Ancoats Manchester M4 5DL

Page 1

OutdoorLads Ltd

Reference and Administrative Details

Bankers

Virgin Money 48-50 Market Street Manchester M1 1PW Nationwide Building Society Kings Park Road Moultan Park Northampton NN3 6NW Monmouthshire Building Society Monmouthshire House John Frost Square Newport South Wales NP20 1PX Aldermore Bank Plc 1st Floor, Block B Western House Lynch Wood Peterborough PE2 6FZ

Page 2

OutdoorLads Ltd

Introduction from the Chair

CHAIR’S REPORT - 1st April 2023 to 31st March 2024

As I look back on an eventful year, it is heartening to see so many positives!

OutdoorLads is nothing without our events. In the year to 31st March 2024, we had 1635 events across the UK, including our Big Events, hostels, camps, day walks, mountain walks, mountain biking, road biking, indoor and outdoor climbing, leisure walks and so on!

Our events were attended by 2411 of our members (full and pay as you go). We’d have no events if it were not for our group of leaders. We have 411 leaders on our books now, and a huge thank you to all leaders who give up their time freely to volunteer to sprinkle the OutdoorLads magic.

Our membership continues its steady growth, after the blip in membership numbers during the Covid pandemic.

Our finances remain healthy. Once again, we have made a small surplus which we have started to use by way of reinvestment into our events, covering things like more training for leaders, equipment, marketing and more.

The new Board of Trustees has been developing as a team alongside reps from our Sub-Committees and our Regional Coordinators. Between us, we have a committed group, working as one team to help OutdoorLads do what we’re here for - offer a fantastic range of events for our members.

We’ve held developmental away weekends to build the team. Some key takeaways from these are:

• We are reinvesting more of our surplus into future events, having provided a budget for each sub-committee. Money has already been spent on new kit, including new first aid kits for certain leader-types, climbing kit, and more training for leaders

• We have listened to the views of leaders from an in-year survey and have acted on many of the ideas and concerns raised, including provision of resources for events, improving mileage claim amounts noting the big rise in fuel costs in recent times, updated our expenses policy, working with Regional Coordinators to improve teamwork in the regions and help leaders get the support they need from within the regions to free up office staff time.

On this note, we are focused on speeding up the event publishing process. In some cases, especially where members and leaders may need to book annual leave several months in advance, and where members would benefit from early booking of train tickets, we are working to get more paid for events on-line sooner.

I am proud of the way the new team of trustees has gelled so quickly, and proud of how we are part of a wider governance team involving sub-committees and our regional teams.

Page 3

OutdoorLads Ltd

Finally, a few thank you’s! It must be noted that much of the progress made in 2023/24 is a result of the professionalism in our office team: Liam, Dan and Yvonne. You have continued to make things happen right through the year. Thank you. I also want to thank all the volunteers that chip in to make our BIG Events go so well. There are too many people to list, but everyone involved in planning, welcoming members on arrival, leading events, operating the bar, feeding hungry members, sorting out problems (varied, to say the least) any time of the day or night - you deserve medals!

Thank you finally to members participating in our full range of events. Your involvement and enjoyment is at the core of what makes OutdoorLads work.

Rob Mitchell Chair

Page 4

OutdoorLads Ltd

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024.

Objectives and activities

The charity’s objectives (as recorded in our Articles of Association) 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.”

Our Vision

Freedom to be yourself in the outdoors

Our Mission

Deliver inclusive and inspiring outdoor events to improve the wellbeing of our members across the UK

Our Values

We are Welcoming We are Adventurous We embrace Togetherness We deliver Excellence We are Respectful

Page 5

OutdoorLads Ltd

Trustees' Report

Public benefit

In setting our objectives, carrying out our activities for the year and looking further ahead, the Board has 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.

Achievements and performance

Our Events

Following a period of some change in the group, the key focus this year was to steady our ship and ensure that we focused on delivering things our members would want us to deliver - more great events that our members enjoy week in week out. This only happens with the commitment and drive of our amazing team of volunteer event leaders, our regional coordinators with their teams of organisers, and the staff team who are involved in planning and delivery of our events.

Some highlights for the 12 months to March 2024:

• We held four well-attended BIG events: BIG Spring Camp in North Wales, BIG Summer Camp in Sussex, BIG Peaky Weekender in Derbyshire, and BIG North Christmas in the Lakes. These would not be possible without the huge contributions of the BIG events teams!

• We have made plans to get BIG Halloween and Big Spring Climb back for 2024 - planning in one year is essential for big events taking place in the next.

• We held very successful big (not BIG) events in the form of Hogmanay and New Year events, plus other Christmas and Easter events - these too take a massive amount of planning and delivery from leaders and their teams - thank you

• Our bread and butter of regular weekends of hostels, camps, wild camps and bunkhouses were well attended again

• Perhaps the most accessible of all are our huge number of day events (walking, cycling, climbing, running, water sports, social, cultural and heritage) which allow hundreds of our members to get out and enjoy being themselves with other like-minded people - thank you to the sometimes unsung heroes of our day event leaders.

• The new sub-committees have been working hard and delivered a number of things to support our events programme. With the sub-committees' emphasis on action, we have replaced the strategy in its various guises with a set of actions which is reviewed regularly, underpinned by our vision, mission and values as set out earlier in this report

Page 6

OutdoorLads Ltd

Trustees' Report

Plans for future periods

Looking Forward to 2024/2025 for our events:

Our Volunteers

Volunteers

Volunteers continue to make an essential 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 continue to run all OutdoorLads activities apart from some specialist sports where OutdoorLads does not have the required equipment/insurance/in-house trained expertise to run the event.

Recruiting and retaining leaders is crucial to the group's success and numbers continue to grow, supported by our network of regional co-ordinators and organisers. Our People committee will be taking an active lead in developing the training and development of leaders.

In 2025 we will be further supporting our leaders with some Leaders Weekends where leaders will stay in a hostel for a weekend and receive training and support for their roles. These weekends will be heavily subsidised by OutdoorLads and it is hoped will motivate leaders to put on more of the events our members love, support them in their roles and raise the profile of our amazing leaders amongst the general membership.

Our Members

Membership rates do remain healthy and there has been a clear increase in members, which is fantastic to see! Membership saw a rise in the last few months of the year following a dip in the middle of the year. However, due to deferred payments, the full impact of this rise is not shown in these accounts.

Page 7

OutdoorLads Ltd

Trustees' Report

Going concern

After making enquiries, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future.

Structure, governance and management

The Charity is commonly known as OutdoorLads and is also registered as a limited company, under the name OutdoorLads Ltd.

The Board of Trustees is mostly drawn from the membership. The board of trustees 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 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.

The Board also delegates some function to sub-committees to deliver on specific themes. The composition and scope of the sub-committees has been reviewed and changes made to improve functionality and authority of this approach.

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.

Page 8

OutdoorLads Ltd

Trustees' Report

Appointment of Directors and Trustees

The Board of Trustees has five appointed members at 31 March 2024, 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, with the exception of the representative member, which is a one-year position. Co-opted 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.

All trustees and staff undergo a basic level DBS (Disclosure and Barring Service) check and appointment is subject to two satisfactory references.

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 one ‘active’ conflict of interest through Connected Individuals of Trustees: Steven Allan, up until 23 September 2023, when Steven Allan resigned from his post.

Charity Commission and Information Commissioners Office

During the year, correspondence was received from the Charity Commission detailing concerns raised about the charity, in correspondence received by them.

We responded to the concerns raised, followed their advice and held a meeting with the Charity Commission to discuss. They have now issued a closing letter as they have been satisfied with the responses received from OutdoorLads. Whilst for GDPR reasons we are unable to make all of the correspondence public, for transparency and to ease member’s concerns, the closing letter has been made available to members to view on our website. There are no outstanding issues, and the case is closed.

Also, during the year, two alleged personal data breaches were reported to the Information Commissioner’s Office (ICO). Both have been acknowledged by the ICO. We chose to provide further information to them surrounding the alleged personal data breaches. They have taken no further action, and no further correspondence has been received.

Page 9

OutdoorLads Ltd

Trustees' Report

Financial review

Overview

The organisation’s finances have remained healthy over this period, with our reserves target being exceeded and a small surplus being made during the year. We have spread our savings across several banks and building societies to ensure that the full amount is protected by the FSCS limit in the event that a bank / building society went out of business. Trustees have also agreed that going forwards, new accounts will be opened with mutual organisations wherever possible.

We are addressing the healthy balances by making investment in the future of the organisation, for example by supporting leaders with more training, equipment, and providing a budget for each sub-committee to use for investment. This activity will continue into the new financial year, when we will support further leader development through dedicated Leader Weekends.

Performance

Net income before depreciation and amortisation was £21,680 (£40,076 for FYE 3/23). This is a decrease over the previous year with the biggest contributors being 1) higher spend on the events programme, from rising costs, and an intentional effort to reduce prices on some events in order to provide better value to members during financial pressures we have all faced, 2) reduced bar income as we did not run as many bars during the year, and 3) reduced donations, principally as we did not run our partnership with The North Face this year.

Net surplus after depreciation and amortisation £3,423 (surplus of £23,504 in FYE 3/23).

Policy on reserves

During the FYE 3/22, OutdoorLads adopted a new reserves policy. We now target free reserves of £95,000-£135,000. The pandemic showed that members are very loyal and that, while membership income may reduce when no events are taking place, it does not go to zero. The trustees therefore decided the charity only needs £35,000-£55,000 for external risks. The trustees also identified our website as an area of vulnerability and therefore decided to hold reserves of £60,000 to £80,000 for future investments. The website reserves are deliberately not held as designated funds due to significant uncertainty regarding the timing, nature and scale of any future investments.

Finance Policy

Trustees produced a new Finance Policy in February 2024. The current Version 2 is available on our website here: www.outdoorlads.com/policies.

Looking Forward

The charity’s financial position is currently steady, with the reserves policy being exceeded. However, we continue to manage finances closely and to spend wisely, investing in the future of the group. The small surplus we made during the year is welcome, as a charity it shows we are managing money closely and, in our members’, best interests

Going forwards, FYE 3/25 is likely to see a near-normal events programme. On the other hand, inflation is high, and whilst membership numbers have increased, the growth is steady. We are also investing more in our website and IT systems following a period of low activity in that regard.

Page 10

OutdoorLads Ltd

Trustees' Report

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

The annual report was approved by the trustees of the charity on 6 September 2024 and signed on its behalf by:

Rob Mitchell Chair and trustee

Page 11

OutdoorLads Ltd

Statement of Trustees' Responsibilities

The trustees (who are also the directors of OutdoorLads Ltd for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees of the charity on 6 September 2024 and signed on its behalf by:

Rob Mitchell Chair and trustee

Page 12

OutdoorLads Ltd

Independent Examiner's Report to the trustees of OutdoorLads Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your charity’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

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.

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 OutdoorLads Ltd as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 accounts 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.

...................................... Helen Binns FCA Chartered Accountants

One Express 1 George Leigh St Ancoats Manchester M4 5DL

Date:............................. 6 September 2024

Page 13

OutdoorLads Ltd

Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations
3
Charitable activities
5
Other trading activities
4
Investment income
6
Total income
Expenditure on:
Charitable activities
7
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
5,706
333,286
583
13,817
353,392
(348,566)
(348,566)
4,826
4,826
278,057
282,883		 Restricted
funds
£
89
-
-
-
89
(1,492)
(1,492)
(1,403)
(1,403)
10,292
8,889		 Total
2024
£
5,795
333,286
583
13,817
353,481
(350,058)
(350,058)
3,423
3,423
288,349
291,772		 Total
2023
£
12,472
343,526
-
4,965
360,963
(337,459)
(337,459)
23,504
23,504
264,845
288,349

The notes on pages 17 to 27 form an integral part of these financial statements. Page 14

OutdoorLads Ltd

(Registration number: 06589498) Balance Sheet as at 31 March 2024

Note
Fixed assets
Intangible assets
12
Tangible assets
13
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
16
Creditors: Amounts falling due within one year
17
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
18		 2024
£
31,865
4,680
36,545
1,717
48,923
356,370
407,010
(151,783)
255,227
291,772
8,889
282,883
291,772		 2023
£
47,588
4,999
52,587
1,647
52,386
329,265
383,298
(147,536)
235,762
288,349
10,292
278,057
288,349

The notes on pages 17 to 27 form an integral part of these financial statements. Page 15

OutdoorLads Ltd

(Registration number: 06589498) Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the charity 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The financial statements on pages 14 to 27 were approved by the trustees, and authorised for issue on 6 September 2024 and signed on their behalf by:

Rob Mitchell (resigned 07 September 2023, appointed 06 December 2023) Chairman and trustee

The notes on pages 17 to 27 form an integral part of these financial statements. Page 16

OutdoorLads Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

1 Charity status

The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

The address of its registered office is: Suite 440 Royal Exchange Manchester M2 7EP

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

OutdoorLads Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Page 17

OutdoorLads Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

2 Accounting policies (continued)

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by 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 exclusively to charitable purposes.

Page 18

OutdoorLads Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

2 Accounting policies (continued)

Intangible assets

Intangible assets costing £300 or more are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class Amortisation method and rate Over 7 years (from date new site goes Website live) straight line Software licences 33.3% straight line

Tangible fixed assets

Individual fixed assets costing £300 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Fixtures & fittings over 7 years straight line
Computer equipment over 3 years straight line

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Page 19

OutdoorLads Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

2 Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

3 Income from donations

Donations received
Grants received		 Unrestricted
funds
General
£
5,706
-
5,706		 Restricted
funds
£
89
-
89		 Total
2024
£
5,795
-
5,795		 Total
2023
£
11,332
1,140
12,472

4 Income from other trading activities

Trading income;
Sales of goods and services		 Unrestricted
funds
General
£
583
583		 Total
funds
£
583
583		 Total
2023
£
-
-

Page 20

OutdoorLads Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

5 Income from charitable activities

Income from events
Membership income
Bar income
Commission received		 Unrestricted
funds
General
£
212,132
84,493
35,615
1,046
333,286		 Total
2024
£
212,132
84,493
35,615
1,046
333,286		 Total
2023
£
187,883
108,685
46,684
274
343,526

6 Investment income

Interest receivable
7
Expenditure on charitable activities
Note
Direct costs
Allocated support costs
8
Direct costs
Accommodation
Travel
Food, drink & other		 Unrestricted
funds
General
£
138,740
209,826
348,566
Unrestricted
funds
General
£
73,393
5,318
60,029
138,740		 Unrestricted
funds
General
£
13,817
Restricted
funds
£
1,492
-
1,492
Restricted
funds
£
-
-
1,492
1,492		 Total
2024
£
13,817
Total
2024
£
140,232
209,826
350,058
Total
2024
£
73,393
5,318
61,521
140,232		 Total
2023
£
4,965
Total
2023
£
142,794
194,665
337,459
Total
2023
£
68,290
4,264
70,240
142,794

Page 21

OutdoorLads Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

8 Analysis of governance and support costs

Support costs allocated to charitable activities

Amortisation charge
Depreciation charge
Staff costs
Other staff costs
Premises costs
Insurance
Travel
Non Reclaimed VAT
Print, postage, stationery and advertising
Software & memberships
Sundry
IT & software costs
Legal & professional fees
Board meetings & AGM costs		 Support costs
£
15,723
2,534
83,872
6,099
7,279
5,628
2,078
24,422
3,651
2,782
5,261
40,195
2,224
2,428
204,176		 Total
2024
£
15,723
2,534
83,872
6,099
7,279
5,628
2,078
24,422
3,651
2,782
5,261
40,195
2,224
2,428
204,176		 Total
2023
£
15,723
850
81,754
5,562
5,630
5,225
4,203
15,870
2,099
2,699
2,066
43,444
285
955
186,365

Governance costs

Independent examiner fees
Examination of the financial statements
Other Non-audit services		 Unrestricted
funds
General
£
3,212
2,438
5,650		 Total
2024
£
3,212
2,438
5,650		 Total
2023
£
1,900
6,400
8,300

Page 22

OutdoorLads Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

9 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2024
£
74,389
6,459
3,024
83,872		 2023
£
70,238
6,705
4,811
81,754

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year was as follows:

during the year was as follows:
2024 2023
No No
Administration staff 3 3

No employee received emoluments of more than £60,000 during the year.

10 Independent examiner's remuneration

Examination of the financial statements 2024
£
3,212		 2023
£
1,900

11 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. Expenses totalling £4,717 (2023: £7,873) were paid to nine trustees.

Page 23

OutdoorLads Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

12 Intangible fixed assets

Cost
At 1 April 2023
At 31 March 2024
Amortisation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
13 Tangible fixed assets
Cost
At 1 April 2023
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Furniture and
equipment
£
3,428
703
-
4,131
3,428
61
3,489
642
-		 Website
£
110,061
110,061
62,473
15,723
78,196
31,865
47,588
Computer
Equipment
£
18,871
1,539
(26)
20,384
13,872
2,474
16,346
4,038
4,999		 Total
£
110,061
110,061
62,473
15,723
78,196
31,865
47,588
Total
£
22,299
2,242
(26)
24,515
17,300
2,535
19,835
4,680
4,999

Page 24

OutdoorLads Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

14 Stock
Stocks
15 Debtors
Trade debtors
Other debtors
Taxation and social security
Prepayments
16 Cash and cash equivalents
Cash at bank
17 Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals
Deferred income
Deferred income at 1 April 2023
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end		 2024
£
1,717
2024
£
6,680
-
227
42,016
48,923
2024
£
356,370
2024
£
36,646
1,216
6,409
4,250
103,262
151,783
2024
£
97,927
103,262
(97,927)
103,262		 2023
£
1,647
2023
£
6,824
554
8,056
36,952
52,386
2023
£
329,265
2023
£
36,566
-
9,003
4,040
97,927
147,536
2023
£
122,745
97,927
(122,745)
97,927

Page 25

OutdoorLads Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

18 Funds

Unrestricted funds
General
Restricted funds
Total funds
Unrestricted funds
General
Restricted funds
Total funds		 Balance at 1
April 2023
£
278,057
10,292
288,349
Balance at 1
April 2022
£
254,553
10,292
264,845		 Incoming
resources
£
353,392
89
353,481
Incoming
resources
£
360,963
-
360,963		 Resources
expended
£
(348,566)
(1,492)
(350,058)
Resources
expended
£
(337,459)
-
(337,459)		 Balance at 31
March 2024
£
282,883
8,889
291,772
Balance at 31
March 2023
£
278,057
10,292
288,349

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:

a) Financial Assistance for Members where we offer financial support for current Members who are experiencing financial hardship or difficult life circumstances. This support could be paying the event fee for a hostel weekend or providing a contribution towards travel costs.

b) Work with other charities where we look to generate and explore relationships with others LGBT charities around the UK. The aim is to support individuals to come to OutdoorLads events and enjoy the community and positive wellbeing so many of our current members experience.

Page 26

OutdoorLads Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

19 Analysis of net assets between funds

Intangible fixed assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Intangible fixed assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
31,865
4,680
396,718
(151,783)
281,480
Unrestricted
funds
General
£
47,588
4,999
373,006
(147,536)
278,057		 Restricted
funds
£
-
-
10,292
-
10,292
Restricted
funds
£
-
-
10,292
-
10,292		 Total funds at
31 March
2024
£
31,865
4,680
407,010
(151,783)
291,772
Total funds at
31 March
2023
£
47,588
4,999
383,298
(147,536)
288,349

20 Related party transactions

The charity has contracted services from Linten Technologies Ltd. This company provides domain renewal and server hosting services. Steven Allan, a previous trustee, is also a director of this company.

During the year the value of services and goods purchased from Linten Technologies Ltd was £5,286 (2023: £2,513). The amount outstanding at the balance sheet date was £Nil (2023: 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.

Page 27