COMPANY REGISTRATION NUMBER: 7646099 CHARITY REGISTRATION NUMBER: 1142135 Armed Forces Para-snowsport Team Company Limited by Guarantee Unaudited Financial Statements 31 August 2025 Rl cc Charlered accountants Unit 1, Borough House Business Centre, 5 Borough Road, Richmond, North Yorkshire DL10 4SX
Armed Forces Para4nowsport Team Company Limited by Guarantee Financial Statements Year ended 31 August 2025 Page Trustees. annual report (incorporating the directorfs report) Independent examine¢s report to the trustees Statement of financial activities (induding income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not forni part of the financial statements Detailed statement of financial activities Notes to the detailed statement of financial activities 20 21
Armed Forces Para4nowsport Team Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 August 2025 The trustees, are also the iJire¢lors for Ihe purposes of company law, present their port and the unaudited financial ststements of the charity for the year ended 31 August 2025. Chairfs report Chaiman Welcome The Amied Forces Par&Snow5rx)rt Team (AFPST) conlinues to deltver a unique recovery palhway for wounded, injured, and sick milrtary personnel and veterans. As the Chaimian of the Board, l am honoured to lead such a dediczted team that is passionate atx)ul making a p051bve impact on this most deserving and inspiring community. The progress made are superb a1 the achievements more than we could have hoped for. We have delivered the sustainae. effioent arKI effective prrNJramme. which was absolutely in line th the strategy our Board endorsed in 2021." a necessary pivot to mitigate sever21 long term financial risks that we were facing. The progiamme this year has built on previous years. success and allowed us to scale up to support more benefictaries than ever before, which is a remarkable tumaround in just 48 months. Looking ahead I remain hugety opb"mistic. I belEve we are beginning lo identify tnore opportunib'ès lo support greater numbers of beneficiarEs within the programme. Before any big decisions are made, and to avoid over commiiting our resource. it is right that we take Ihe b.me to review our strategy to ensure we can meet any increase in demar both demand safely. and %vithin our financial constraints. The relationships we have our sponsors and parts)ers Continues to strengthen as th6y Wltness the positive impact of our programmes. We are 50 grateful for their continued support and a alwa looking to engage new supporters who share our Msion. l extend my heartfelt thanks to our sleadfast supporters such as Ailen and Overy. Veteran's Foundation. Team For. A51ute, and the Invictus Foundation for their unwavering commitment to our cause. I want lo emphasi5e that we are exceeding expedab.ons in our delivery. I must acknowledge and thank the eXptiOnal Executive and Non-Executive team members of AFPST. whose de¢Jication and belief in our mission drives our su¢¢ess. We are immensely grateful and proud of our brilliant volunleers and partners who generousty give their time and resources to support our work. Their selfless contribukn.ons are invaluable and inspire us to continue strmng for exllen in our pyogrammes.
Armed Forces paranOWsp0rt Team Company Limtted by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (con#nu Year ended 31 August 2025 Reference and admlnistralive detalls Registored charity name Armed FOrS Par&SnoWspC Team 1142135 Charity registration number Company reglstration number 7646099 Principal officè and rngistered 1 Blossom Yard office 4th Fjoc London E16RS The trustees Brigadter A S Gamer OBE Lt Colonel {Ret) P Spanner Major General M Pullan CBE Colonel IRetl S H Bull J D Ahrens Major IRot) E Winfield BrigadierA D Cox MBE Brigadier IRet}F E Hargreaves OBE GHay D Tozer Major (Retl S N Roffey (Resigned 8 May 2025) (Resigned 15 July 20251 (Resigned 13 July 2025} (Resigned 28 February 20251 Independent examiner R I Crisop FCA Unit 1. Borough House Business Centre. 5 Borough Road. Ri¢hmond. N(Kth Yorkshire DL10 4SX Structure. governanco and managernent The Charty is administered by a CMM[1tee of trustees who are listed above. Risk Policy The trustees have examined the major strategic. business and operab.onal risks which the charity faces and confirm that syBtems have been estsblished to enable regular reports to be produced so that the necèssary steps can be taken lo lessen the risks. Objectives and a¢tivitigs 1. The promotion of effic*ncy of the Armed For$ of the Crown through the encouragement, sUPPOrt and provision of adaptive winter Spt$ activibes for injured or dÈsabled Servi personnel. 2. The relief in need, and promotion of healthy recreation. of injured or disabled fomer serwce personnel through the encouragemertrt. support an¢J provision of adap've wnler sports activities.
Armed Forces Para-snowsport Team Company Limited by Guarantee Trustees. Annual Report {Incorporating the Dlrectorfs Report) (continu8dJ Year ended 31 August 2025 Achi•vemgnts and perfoTmance We continue lo supwrt the recovery of (r vK)unded. injured and sick military personnel and veterans through the restorative power of comrEtitive snOvrt. As an indepelldent ser charity, our dedicated team of volunteers prowde adaptive snowsport instruction lo those wilh physical and psychological conditions. The COpetitsVe SFKJrting environment enables our athletes to achieve easurable success in several disctpl1ts. Although wiFnarily focused upon providing an opportufiity to oiexperienced team members to acquire new skills arKI purpose. we also provide the opport4Jnity for athletes to compet& on the"world slage. Financial review The trustees are satisfied wrth the finan¢wl p05iboM of the charity. Investment policy The trustees have the power to invest in such stocks. shares. investments and property in the UK as they see fit. Reserves policy 11 is the policy of the charFty to maintain unrestricted fttnds, which are the free SerVeS of the charity, al a lèvel that equates to approximatety four months unrestricted expenditure. This provides sufficient funds lo cover management and adminis1rat1c and SLFPPOrt CLists. unresth.cted funds were maintained in eXs$ of th4s level throughout Ihe periL¥I. Small company provisions This report has been prepared in accordan th the provisions applicable to companies entitled to the $all ¢ompanies exemption. The trustees, annual report was approved on 16 February 2026 and signed on behalf of the tKJard of trustees b. Major Gen8ral M Pullan CBE Trustee
Armed Forces Para4nowsport Team Company Limited by Guarantee Independent Examlnerfs Report to the Trustees of Armed Forces Para- Snowsport Team Year ended 31 August 2025 I report to the trustees on my examination ofthe financial statements of Am)ed FOrS Para-snowsport Team Ilhe ¢harity) for the year ended 31 August 2025. Responsibilities and basls of report As the tnjslees of the company land also its directors for thè purposes of company lawl you are responsible for the preparation of the financial statemenls in )rdan wilh the requirements of the Companie5 Act 2006 Ilhe 2006 Acl'l. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 A¢1 and are eligible for independent examination. I report in respe¢t of my examination of the charitys accounts as carried out under se¢b"on 145 of the Charities Act 2011 {'the 2011 Acl'l. In carfyTng out my examination I have folk)wed the Directions given by the Charity Commission under section 145151{bl of the 2011 Act. Independent examinerfs statement Since the d)aritys gro income exceeded £250.000 Jvur examiner must bo a member of a t)ody listed in section 145 of the 2011 Act. I confirm that l am qualtfied to undertake the examination because l am a member of the Institute of Chartered Accountsnts in Erkgland and Wales IICAEW), which is one of the listed bodies. I have completed my examination. I confimi that no matters have Come to my attention in ¢onne¢tion with the examinats.on giving me rause to believe." accounting rÈci)rds were not kept in resPErt of the Charity as required by section 386 of the 2(M)6 AGt,' or the finanal statemen15 do not accord with those recort15,' or the financial statements do not comply with the accounting requirements of secb'on 396 of the 2006 Act other than any requirement that the acwnts give a 'true and fairf view 1¢h is not a matter considered as part of an independent examination,. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practi for accounting and reporting by charities applicable to charities pparing their accounts in accordance with the Financial ReFK)rttng Standard applicable in Ihe UK and Reptjblic of Ireland IFRS 102}.
Armed Forces Para-snowsport Team Company Limited by Guarantee Independent Examinerfs Report to the Trustees of Arnied Forces Para- Snowsport Team (¢oiJtintsed) Year ended 31 August 2025 I have no con¢ems and have come across no other matters in trnectiOn th& examinalK)n to which attention should be drawn in this rew)rt in {der to enabie a proper undw5tanding of the accounts to be reached. R I Crisop FCA Independent Exa•er Unil 1, Borough House BUS1r Centre. 5 Borotjgh Road. Richmond, North Yorkshire DL10 4SX 16 Feb26
Armed Forces Para4nowsport Team Company Limited by Guarantee Statement of Financial Activities {including income and expenditure account) Year ended 31 August 2025 Period from fMay2310 31 Aug 24 Year to 31 Aug 25 unrestn.cted Restricted funds funds Total funds Total funds Note Income and endowments Donations and legactes Investment income 304,102 2.758 95.130 T15 399.232 3,533 402,765 267.503 2,910 270,413 Total income 3r.860 95,905 Expenditure Expenditure on raising funds.. Costs of raising donations aThl legacies Expenditure on charitable activities Total expendtturè 95.112 313.333 408.445 95,112 353,712 36.278 226,975 263,253 40,379 40,379 448,824 Nèt {exponditure)fincoma {101.585} 55,526 146,0591 7,160 Other recognised gains and 10s5e5 Gains from revaluation of fixed assets Net movemènt in funds 34.953 166.632) 34.953 111,1061 32,146 39,306 55.526 Reconciliation of funds Totsl funds brought forward Total ftsnds rrIed fonvard SM.934 465,637 504,943 438.302 55.535 493,837 The ststemenl of financial activit*5 indudes all gains and losses recc¥Jnised in the year. l income and expenditure derive from Continui athibes. The note5 on pagas g to 18 lorrn part ofthese financial statsments.
Armed Forces Para-snowsport Team Company Limited by Guarantee Statement of Financial Position 31 August 2025 2025 2024 Flxed assets Tangible fixed assets Investments 14 15 3,693 291.604 7,386 306,651 314,037 295.297 Current assets Cash at bank and in haTh 199,260 191,626 Creditors.. amounts falllng due within one year Net Current assets Total assetsloss cuTrent liabllities Net assets 16 720 720 198,540 190,906 493,837 493,837 504,943 504,943 Funds of the charity Restricted funds Unrestricted funds.. Revaluation reserve Other unrestricted income funds Total unrestricted funds Total charity funds 55.535 41,604 396.698 6,651 498.283 438.302 504,934 17 493,837 504.943 For the year ending 31 August 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Oireclors, responsibilities-. The members have nol required the company to obtain an audil of its financial statements for the year in question in accordance with section 476- The d1CtorS acknowFedge thèii responsibilities for cOmpng wtth the requiremerTrts of Ihe Act with reS¢t to accounting records and the preparatton of financial stslemenls. These finanGial statements have been prepared in accordance Ihe provisions applicable to companies subje¢t lo the small compani&s' regime. The statement of financial position continues on the following page. The notes on pag85 9 to 18 fom) part of these financral stat•ments.
Armed Forces Para-snowsport Team Company Limited by Guarantee Statement of Financial Position (¢onttnu8dJ 31 August 2025 These financial ststements were apwoved by the board of twstees and authorised for issue on 16 Feb 26, and are sne on behall of the EM)ard by. Major General M Pullan CBE Trustee The notes on pages 9 to 18 fomi part of these financial statements.
Armed Forces Para-snowsport Team Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2025 General Infomiation The charity is a public benefit entity and a Private COTnpany limited by guarantee. registered in England and Wales and a registered charrty in England and Wales. The address of the registered Offi is 1 Blossom Yard, 4th FlcK)r, Lorvjon. E16RS. Statement of compliance These financial statements havè been ppared in Complian with FRS 102, The Financi81 Reporting Stsndard appliczble in the UK and the Republic of Ireland.. the Slalemenl of Recommended practi applicable lo chartbes preparing their accounts in accordancè wth the Financial Reporting Starard applicable in the UK and Republic of Irelaftd IFRS 1021 (Charities SORP IFRS 10211 and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the hisloriral cost basis. as m¢Aified by the revaluation of certain financial assets and liabiltties arml investment F0per.es measurgd al fair value through income or expenditure. The financial ststements are prepared in sterfing. which is the funth.onal currency of Ihe entity. Going concern The are no material uncertainth.es about the Charitys abilty to continue. Judgements and key sources of 8stimation uncèrtainty The preparation of the fJnan¢ial 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. inclu¢Jing expeGtations of future events that are beIVed to be reasonable uer the cir(JJrnstan. Fund accountlng Unrestricted funds are 8vailable for use at Ihe drsCrets"C of the twstees to further any of the Charitys purFKJses. Designated funds are unrestricted furmls eamiarked by the trustees particular fuiure project or commitment. Restricted funds are subjected to restricbons on their expenditure deClad by the donor or through the temis of an appeal, and fall into one of SulaSseS- restricted income funds or endowment funds.
Armed Forces Para4nowsport Team Company Limited by Guarantee Notes to the Financial Statements (conUnu6dJ Year ended 31 August 2025 A¢countlng policies {conATnu8d) Incoming resources l incoming resources are induded in the stslement of financial actniities when enlillement has passed to the charity, it is FKcthble that the economi¢ benefits associated wth the transaction will ftow to the chaTity and the amount can be rdiably measured. The folbw.ng specific policTres are applied to particular categories of iruJme- income from donations or grants is recognised when there is eVIden of entrtlement to the gifL receipt is probable and its amount can measured reliably. legacy income is recognised when receipt is probable and entttlemenl is established. income from donated go(Mls is measured al the fair value of the goods unless this is rmpracb.cal to measure reliAbty, in which case the value is derived from the cost lo the donor or the esb'maled resale value. Donated facilities and serwces are recognised in the accounts when re¢eive(l rf the value be reliatAy measur&l. No amounts are included for the contribution of general volunteers. income from contracts for the supply of servrces is renISed the delivery of the contracted service. This is cL4ssffied a5 untestricted lunds unless there is a coTrlra¢tual requirement for it lo be S1 on a particular purpose and rerned rf unspent, in v4hich case it may be regarded as restricted. Resourcès expended Expenditu is recognised on an accruals basi5 as a liability is incurred. Expendifure includes any VAT which cannot fully recovered. and is classtfied under headings of the statement of financial actiwti.es to which it relates.. expenditure on raising fvnds indudes the costs of all fundraisirkg ath"vities. events, non- charrtable trading actiwbes. and the sale of donated go(Kfrs. expenditure on ch2ritable activities includes all costs ift(JJrred by a charity in undertaking activities that further its charitable airT)s for the b6nefrt of its beneficiaries. including those support costs and costs relatirwJ to the govemance of the chanty apports.oned tr> charitable activities. other expenditure includes all expendtture that is neither related to raising funds for the ¢harity n(K part of its expendsture on charitable aclivits'es. All costs are allocated to expendiiure rategcwres refleth.ng the us8 of the resource. Direct costs attributsble 10 2 single a¢livily are allocated d1cl1Y to that acliwty. Shared costs are apportioned between the activities they contribute lo on a reasonable. justrfiabje and wnsistenl basis. Tangible assets Tangible assels are initialty recorded al cost, and subsequenty stsled at cost less any ac¢umulated depreciation and impairment losses. Any tangible assets carried al revalue amounts are recorded at th& fair value at the date of revaluation less any subsequent accumulated depreciation subw4uent a(mU[ated impainnenl losses. 10
Armed Forces Para4nowsport Team Company Limited by Guarantee Notes to the Financial Statements (¢onfrnue Year ended 31 August 2025 Accounting poli¢ies (COnliftu8dJ Tangible assets (¢onbnuedJ An increase in the Carrng amount of artr asset as a result of a revaluats"on. is recognised in other recognised gains and losses. unless rt reverses a charge for IpalMient that has previousty been re¢ognised as expenditure byithin the slalement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which It offsets any previous revaluation gain, in %thich case the loss i% shown within other recognised gains and losse5 Cm the slatemenl of financial activtti"es. Depreciatlon Depreciation is calculated so as to lIe off the cost or valuation of an asseL less its residual value. over the usefvl economic life of that asset as folbws: Equipment 20% reducing balan Investments Unlisted equFty inve5tmen15 are initially rwded at cost, and subsequendy measured al fair valtje. If fair value cannot be reliably measured. assets are measured at cost less impairment Listed ir)ves¢ments are measured at fair value with changes in fair value beillg recognised in income or expendrtsjre. Investments in associates Invèslmenls in associates accounled for in acccKdance wtth the cost Mje[ are recorded al cost less any aCCu¥jIated impairment105ses. Investments in associates accounted in accordance with Ihe fair value model are initially re¢orded at the transaction price. At each reporbng date, the investments are measured al fair value, wth Changes in fair value tsken through income or exKEnditure. Where it is irllpracticable to measure fair value reliably wthout undue cost or effort. the cost mL¥lel will be adopted. Dividends and other distrtbulions red from the investrnent are recognisod as income wqthout regard to whether the distributK)ns are from accumulated profi15 of the associate arising before or after the dale of acquisition. Invostments in joint ventures Investments in jointly controlled entities ac(x)unted for in acccYdan wth the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in a¢¢x)rdance with the fair value model are initially recorded at the transaction pri. At each rePting date, the investments are measured at fair value. wth changes in fair value taken through income 01 expenditure. Where it is impracticable to measure fair value teliably wrthoul undue cost or effort. the cost model will be adopted. t1
Armed Forces Para-snowsport Team Company Limited by Guarantee Notes to the Financial Statements (Con¥nd} Year ended 31 August 2025 Accountlng policies (ctsntinuEdJ Invastments in joint venthres {toiillnuEd) Dividends and other distTibutions recetved from the investment are recognised as income wthout regard to whether the distributions are from accumulated profits of the joint venture arising before or afterthe date of acquisitk)n. Impairnient of fixed assets A review for indicators of impairment is carried out al reporting (fate, wth the recoverable amount being estimated where such I[l¢atOrS exist. Where the carrwng value exceeds the recoverable amount. the asset is impaired accordir¥Jly. Prior impaiments are also r&viewed for possible reversal at each retM)rtJ"ng dale. For the purposes of impaimient lesting. when it is not Fx)ssible to estimate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash- generating unit to bvhith the asset belongs. The (Zsh-gènerating unil is the smallest entIfi3b1e group of assets that includes Ihe asset and generates ¢ash inflows that largely independent of the cash infyjws from other assets or grrAJPS of assets. For impaimient testing of g¢yJdwill, the g(M)dwill acqurred in a btjsrness combinakn.on is from the acquisition date, alk)cated to eath of the cash-generatiThJ unts that are expected to benefit from the synergies of the combination. irrespective of whether other assets or liabilits'es of the charity are assigned to th(Ise units. Financial instruments A financial asset or a financial liabiljty is recDgnised only when the charity becomes a party to the contractual provisions of the inslJumenl. Basic finan¢ial instruments are initialty recognised at the amount receivable or payable including any related transaction costs. Current assets and ¢urrent liabilttFes are subsw4uenty measured al the cash or other ¢onsidefalion expecled to be paid C received and t disCnted. Debt rnstrumerrts are subsequendy measured al amortis&J cost. Where inveslwnents in Sho are publ** traded or Iheir lair value can otherwise be measutsd reliably. the investment is subsequenljy measUd at lair value with changes in fair value recognised in income and expenditure. Al other such investments are subsequently measured al cost less impaim)ent. Other financial instruments. induding derivatives, are initially recognised al fair value. unless payment for an assel is deferred beyond normal business lemis or financed at a rate of interest that is not a market rate, in which case the asset is measured al the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instrumerts are subseqLnty measured at fair value. with any chawjes recognised in the stslement of finanrAal actiwbes. wtth the excepbon of hedging instruments in a designated hedging relationship. 12
Armed Forces Para4nowsport Team Company Limited by Guarantee Notes to the Financial Statements f¢onbnu8dJ Year ended 31 August 2025 A¢counting pollcies (¢c¥thu8OJ Financial instruments {¢ortrnu8dJ Financial assets that are measured at cost or amorbsed cost are reviewed for (leCtiVe evidence of impaimient at the end of each reportFng date. If there is objectsve evidence of impairmenl, an impaient loss is recognised under the appropriate heading in the statement of financial activities in which the intb"d gain was recognised. For all equity instruments regardless of significance. and other financial assets that are ir%lividualty signrfKant, these are assessed individually for impairment. Other financ1 assets are either assessed indNidually or grouped on the basis of sivnilar credit risk characleristl¢S. Any reversals of impaimient are recognised immediately. lo the extent that the reversal does not result in a carryTng amount of the financial asset that exceeds what the carying amount would have been had the impaimient rK)t prewously been reo)gnised. Limited by guarantsa The liabilrty of the members is limited to £1 each in the case of the company being wound up. Donation$ and legacies unresln.cted Funds Restrict1 Totsl Funds Funds 2025 Donations Voluntsry income 304.102 95,130 399.232 Unreslricted Funds Restricted Total Funds Funds 2024 Donations Voluntsry income 267.503 267,503 Investment income Unrestrict1 Funds Restricted Total Funds Funds 2025 Investment income 2.758 775 3,533 Unrestricted Funds Restricted Total Funds Funds 2024 Investment income 2,910 2.910 13
Armed Forces Para-snowsport Team Company Limited by Guarantee Notes to the Financial Statements icon¥n Year ended 31 August 2025 Costs of rdis5ng donatlons and legacies Unrestrrcted Totsl Funds unrestn.cted Total Funds Funds 2025 Funds 2024 Costs of generating vcAuntary income 95.112 95.112 36,278 38,278 Expenditure on Charitable activiti•s by fund type unrestr.cled Funds Restricted Total Funds Funds 2025 Charttable actmty Support costs 306.073 7.260 313.333 40.379 346.452 7,260 353,712 40.379 Unrestricted Funds Restricted Total Funds Fun(Js 2024 Charitable actiwty Support costs 188,845 14.446 23,684 212,529 14,446 203,291 23.684 226,975 Expenditure on charitable actlvities by actlvlty type Activities undertaken direcljy Support costs Total fund5 2025 Total fund 2024 CharFtsble actiwty Govomance costs 346,452 346,452 7,260 7.260 212,529 14,446 226,975 346.452 7,260 353.712 10. Net lexpenditureyincome Nel lexpendilure}fincome is stated after ChaIng1{crediling)-- 2025 2024 Depreciafion of lang11e fixed assets 3,693 3.693 14
Armed Forces Para4nowsport Team Company Limited by Guarantee Notes to the Financial Statements (¢OntsJN Year ended 31 August 2025 11. Independent exam•nat•on lees Period from Year to 1 May 23 10 31 Aug 25 31 Aug 24 Fees payable lo the independent exam1rr for. Independent examinab.on of the finarbcial statements 660 630 12. Staff costs The average head count of employees Iluring Ihe year was 2 {2024." 1). The average nurTJber of ftjlptime equivalent employees durrng the year is anaed as follows." 2025 No. 2024 No. Numberofstaff The Charity had no staff in the year. No employee received employee berkeffts of ffl0 than £60,000 during the year12024.' Nil). 13. Tnjstee remuneration and expen$ No remuneration or other benefits from employTnent Wtth the chaitty or a related entity were reIved by the Iruslees. 14. Tangiblo fixed assets Equipment Cost At 1 SÈptomb8r 2024 and 31 August 2025 Depreciation At 1 September 2024 Charge for the year At 31 August 2025 Carrying arnount At 31 August 2025 At 31 August 2024 41,577 34.191 3,693 37,884 3,693 7,386 15
Armed Forces Para-snowsport Team Company Llmited by Guarantee Notes to the Financial Statements (¢on&n Year ended 31 August 2025 15. Investments Listed Investrnents Cost or valuation Al 1 September 2024 Addikn"ons Disposals Fair value movements At 31 August 2025 Impairment At 1 September 2024 and 31 August 2025 Carrying amount At 31 August 2025 Al 31 August 2024 306,651 {50,0001 34,953 291,604 291.604 306,651 All investments S above 8re held al valuation. Finan¢ial assets held at fair v4ue The value shown is the market value at the year and the Trustees lIeVe this to be a fair value. 16. Creditors: amounts falling due within one year 2025 2024 Accruals and deferred income 720 720 16
Armed Forces Para4nowsport Team Company Limited by Guarantee Notes to the Financial Statements [7M1ed) Year ended 31 August 2025 17. Anatysis of charitable funds Unrestricted funds At 1 September 2024 At Gains and 31 August 20 losses 25 ItKome Expenditure General fUrS Revaluation reserve 498,283 6.651 306.860 {408,4451 396.698 41,604 34,953 34,953 504.934 306.860 1408.445) 438,302 At Gains and 31 August 20 losses 24 1 May 2023 Income Expendtture General funds Revaluation reserve 467.439 {25,495) 441.944 270.413 {239.5691 498,283 6,651 504.934 32.146 32.146 270.413 (239,5691 Restricted funds At 1 September 2024 Income Expenditure Gains and 31 August 20 losses 25 Restricted Fund 95,905 {40.3791 55,535 At Gains and 31 August 20 105ses 24 At 1 May 2023 Income Expendiiure Restricted Fun 23.693 123.684} 17
Armed Forces Para4nowsport Team Company Limited by Guarantee Notes to the Financial Statements (conlTnu•lJ Year ended 31 August 2025 18. Analysis of net assets between funds Unrestri¢ted Funds Restricted Total Funds Funds 2025 Tangible fixed assets Investments Current assets Creditors less than l year Net assets 3,693 291,604 143.725 17201 438,302 3.693 291,604 199.260 17201 493,837 55,535 55.535 unStrICted Funds RerIcted Total Funds Funds 2024 Tanglie fixed assets Investments Currènt assets Creditors less than 1 year Nat assets 7.386 306.651 191.617 17201 504.934 7,386 306,651 191,626 {7201 504.943 18
Armed Forces Para-snowsport Team Company Limited by Guarantee Management Inforniation Year ended 31 August 2025 The followlng pages do not form part of the financial statements. 19
Armed Forces Para-SnowsPOrt Team Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 August 2025 Period from 1 May2310 31 Aug 24 Yearto 31 Aug 25 Income and endowrnènts Donations and legacie5 Voluntary in¢ome 399.232 267,503 Investmènt in¢orn• Investment income 3,533 2,910 Total income 402,765 270,413 ExndItUre Costs of raislng donations and legacie5 Costs of generating voluntary income 95,112 36,278 Expenditure on charitable activities Chasritable adivib.es and govemance Depre¢ialion 350,019 3.693 223,282 3.693 353,712 226,975 Total Èxpenditurn 448.824 263,253 NÈt (expenditu)rin¢Qrne 146.0591 7.160 20
Armed Forces Para4nowsport Team Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 August 2025 Period from 1May23to 31 Aug 24 Year to 31 Aug 25 Costs of raising donations and legacies Costs of genèrating voluntary incomè Costs of generatin9 voluntary income 95.112 36,278 Costs of raising donations and lega¢ie$ 95.112 36,278 Expenditure on charitable activities Activitles undertaken dir8¢tty Charitable a¢livities Governance Costs Govemance costs Governance costs- depreciation 346,452 212,529 3.567 3,693 10,753 3,693 7.260 14,446 Expenditure on ¢haritable activities 353,712 226,975 21