Mabe LLP ellgitAe to as ath kn t of di 1212 of ¢[eS PLt 21X* DEI 2HU
I to 2 4 b) 9 io to 14 16 17 to 32 33 to 34
Chalrman's Rwt ad(led uncatsintte5 of wing Inflatmjn. Ngh (Sts, r[tical tLrnKth1, (hrivs refrnrKe this The Im1(atiO$ of 2025 we agan wth a wrpks, Ixrt Wal CO[¥Jnwl to invest for growlh Irrtr0dirMj a (Aam Is rK)w futy arKI Irw&lng In Digitsl Mctyknl are steps kn IMprJ the atstonw Jxyney and admIrs2 effiderq. We txxJhJr8 for 2026 trthere we 11 be Iv)&tr embedded. (kn strdt, tntstse tKiar(1, 15 51ThWe and thtive.. owate Akninably, optirnise our OFffilJons. &¥al ow offulroi aTrJ dq%Jy ca1 th)hty. Illh61st tharity cbfrthves not thangal Sgrlftcanty last fth¥ yEafs, the furthmertals of the strategy a1 vay Iittk, a1 was &irtser kn ltte )tw arKI is oyrylete but 11 be re•ved amually In Ilne with market l am pka5e to r4LIrt that Pht IkThe kod Z80 RJDtK)R for ts tNrd nmiThJ a 10% We cOntIn to Jjapt VIL¥ io ersxe &£tssiilty Is a4pllaLle tr al abliues ttry r2n ex1 Ihe'magie ofthe stt& CommLnlty lrnpatt Ls orrfLlly mon1kn. aTrJ we wll oj)t1 to re knal p have ac£e5S en9JNrg finandal backgrouThd ts tX a tWTi¥ to A5 our capalxltbes e>pathl arxt integatal one si(p nK4lel has Mared, our oppxjnIes for 5elf4Elp gros[ r&fftl1yj our re411, re4ylTrJ (w rellae on of s an e$ls1d tharty. with a AKcessfil rutyd arKJ gwatknni rpvuvje and prcKlwing a heathy thsh Olr (rtraticr6 ovff the next ljvo )ears will thtitsl to rdYJklI c4Jr cash arm1 a thwhtful to catthl eXTend[ has imp1wtsj arxl as r ecomry unfokts. y wlll (£anty our oimla base a} how W to de wr flnarKlal We I11 to Inltst In rMntwwrKe we aim to be best In da55 fctwththx)r a( catres. aspett that tk75 gal[ Is ttE sstsinabllty j. We taken rwr wn51bll 5ertOLtsty but wfth capttal for rertw aml ttis was at the ftrthnt of miThls. We etl¥caS tJ'ng to r staff, arml cUnmueS s&l(. We recogth£ the knp0rtaft of Investir¥J irt staff arKI we are Ixjmmltted to 11 base Is balancej LSLY¥ng a senior team that eath (ther vAth the strakn. commerdal. flnarwial aThl <¥atkThl fcas i5 an ¥ea tsfied that we wth to dlOp. Durtr¥ year, we VCOM DeLah Anknett tD the tW)HnJ d Ints 7ftlb) was a[pnl aty of ittirgham Clstrid as of tsir two retrntitiv
alrm•n'$ Report forthe Yejr Ended 31 December 2025 While 2025 was a fijrther year of challenge. as we move Into 2026 the )rnIc crtrtlock for the UK rernains utKertaln and we eX[tt further cost irKrea5es arKI coMpetOn b)th prfoThJ and OfflrYj& We Mll mailltain a cautlous atvroadi partiojlarty as we assess the ongoing effects of cost movements wlllsi rwnaining commlttal to provlding attractive fadllues arKI rATeriws to ow a&omers ensurtThJ we romin well.pogY(rnJ for l¢)ng temi sustaina1e growth. ManaglNJ our Rlsks & Opportunittes Pthrd of Trust are res51te for tharities S of risk management and straw a1 wth wFb3t has happen1 over the last few years has shown OLf vulneratm.lity to operèUrrfJ In a 4)eaalist sector. Heading into 2026 managlng our risks and OFP)rtunltles 11 COnMe to prominert By Idting and mark3glrs our rtsks effectrvely we can fO(S on our bro-terrn opportunlljes. A(Idiilonal rfsks not ptlY n or aJrTenly drn to less matwlal may also have an aVe efft on the tharity in the ftrture. Risk is an Inherent and apted element of dolng bune$S and effectNe r15k vnarwent is fUraMental to )w we run the charity. The charlty approath to rlsk manèJement 15 to identtfy key rfsks aTMI lthen to devdop athons to prcw wIn the 0peralJc to ellmlnate or miugate tIN)se risk5 to an aCCeptsb level. Wale5by Forest have slx commlttees that are all thalYpJJ by a trustee either the thlef ExeLllUve crffr present or e cé lis Cfpdlrectors. a. ReMUneraOn b. Fopety & Assets c. Grounds d. Health & Saftty e. Saftyuardlng f. Hnan o)mmlttees rewt at lJ)e tn meeting whkh are held four times pw Year. Walesby Forest is a thartty, operating a dedicatejj out(knr and actimty centre for yomj IlUsIve to all. The charity not On requires eYteTrthe fimdlng but a large team of volunte5 and staff, arx1 WIt)ut thls comblnatton Wale5by would not able to offer the fa(ilikne5 a1 servlces that our customers demand. Whlle there are many contrfbutors to the SUCC of our charity, at Walesby FOSt ts our stsff a1 volunteers that make the m¢)st material differerKe. Yet again have demonstrat&J rjable in the fa of great uncertalnty to produ Ipsu5, aThJ the b)ard of trStee5 thanks ttlem. Whlle the Board has Stewar{ ts Chartty through a serie5 of Éxtracdlnary drCUrrthn, the thallervJes have been tsken on by our staff and vrAunt&r5. They N3ve once agaln, demonstratsd thr re411en and detemiination and the Trusts extend our gratitude and thanks to the entlre Walesby team. L(KJrg ahea(I, Wal* Forest Is for conOnued AKcess, and ow futt]re is filled vlth exoting NbIlle$ to grow mature. As we conts'nue to grow, thoughtfvl expendlture will remain central to the trtees, c(fislderatknns, balarKlro growth wlih marity, and finandal flexjblllty wllh value ueath)n. There ts to look forward to. We a exate(I for the future and confident Wale5by Forest will thdve In years attead. Alistsii Bow Chalrperson Date: 14 15 Page 2
forthe Yr Ended 31 2025 2025 to pr for tslty. WFi5t we aik tD reath our artklpatal slgrwftsrt incMse5 to ttE nat) wage atthe rate (rf Inflotkn, IFMyeèses to Naljonol tn5ufdrKe contr11xth, made (xr 4aff (16ts vuy hhJlL Futs. on the wts c(xnpanles utITYJ aEM1 guldng Onts cthrtlnued to Wje to atb3tt ryjmLS to make than ate, arxl the (watior471 tsam wlthln NottlrKJhamsNre Soxts G, hive beth d. Strabjkalty, drity has oway fmn to Iw)5t Its larye scale rgjlonal knjt arKJ &ide In an otheNse dffialt year grwp nLth rdwid&1 slgfft• Compar to 2024. Nhead of tget, Lfftted w(xl Wea In the 5 the ykon athlHJonal Vme at the May Bank JlIdaY weekeTrJ. Vl$t the nwntes of vi>ttrs was fAollent the 5xIary dropkHI, irKiN2tive of tts malai wltNn the Britith ectthmy. The nunknx of Corg to tr£ (thalty rffn&rd Ng ar1 In tEak 5easYm avaifablllty was In very short supp. Howw, as with other cwrtr&% In the Ind, we a nificant dHwe In the way resultlThJ In a ry110n In m(Klat¥ inLN)e a1 an w More nlficart redon In crsng incThne. Thls also Impthl smxlary as 5dKds WaE wlir¥J time and thp or at Irvj ma(N 2025 al saw the nurrtws of fr(wn ftrttr£r e21]( C(41e$ drco, LoLNJti¥xwJh Colege not oyning at all. Hihyever, we were gxcessftl in sa2rlNJ a Year cLv)tratt wth West Notts Cdlege dlng additional for tslr >JMkn TAith D. arnl have Med trj SeCe College's In 2026. Ihe Fake Fesuval was a bvj sw255 Jjaln a rw crytraLt h35 be them urtll 2030, testament to gc(d wor1J rdalJcmyp. lding swEss cl this part of thadivs actsMYe5 we a(Yvdy m(e sFwgroLThJ hlre nts for 202& Thls ha5 resulted In Vegan Camp (kn comirvJ heTr from 2026 to at least 2028, F¢est S(tsrfJl and Cnfe, aj P(Alsh Jamtxrn all FK>ldlrvJ mai)r events hwe kn 202& ope(ly, the team the tharlty remalrEd Str arnl Y05 thar bwth addfion on i.house mathiirrfJ. Our sod n10 wesaKe has hyea$ ¢tranati(alty wNth In bTh In(Jeases ylethje dIlty aNI Wth a greatw phaSiS on l¥Jng extThl * Sra ents, 2026 prom to te a b&ter year for the dwity. Ongolng gewfittsl lssw sblt thy to day ruMlr4 ¢]>sts, but Ixtsling events wth a Ccthrrn income wlll hdp to mltlgate the crrt of Imj Gw Laurfa CEO
l Re[rj StsThlanl apai In the UK Rep c( IrelaThl (FPS 102) (effecti l January 20191 Objerfdves aim¥ rewsllxlty try thar1 ts IJU wyJvJ wth the alm that it dwdops lelgjre-tlme opajttes aml CapalIe5 that ty rrw grcfi¥ to fidl mattwty a5 iTrkndEAls aThl rnuts5 of s(MW. Idgjre tln of haNt red of fadIleS ty reasM of tllr YO age 1M]Ity or dlsabllty, fiajaI hathip S(x] wth cé thelr C(rf[l1X)S of I The alms (rf the are a5 . To cortlrKR to secLre the terni I11 ststlhiy ty thrvJ ¥KthI for Oll1r other gro . To promote the of Srj e, akn¥irYJ to eve tIElr full physcal, irtell&Jal, ccKnmuth& xolts, Ox¢te to drive 5a5es. In alg> b) gr(h¥ t1 mathet rtrty are a19) plarffjlFWJ to d0p a itter Wov15[ for dtsatrA&l arma (fisadvantsged pwJrAe. Ydl a5 ivwiThJ the numb& of loty ar eat1rj an dassrc4)m. The 15 gralEfiI urnrj effts d Its lUrrteS are Invo kn asSrj the rnanta1ae team, asslstlTrJ at a1 9JrMw arthlvts arKI tr (f So)ut Group l&iders. It Is
forth• Year Ended 31 2025 Fd-r&[SITr9 Stsndanb Inf(oTh•t The TrLtstees ccffjnmittal to falr, LW strtve hlgW ble agreed to te the Wntary F1rSiN FThnl It Is the ofthe tharty to JxtweS In e tD in drawn Wa Fwt does thare tr sell dats tth rtIeS for I1r mark£titvJ t8EfiL ap• to thllr¥J. rased by thlrd pardes. Pubqc benefft acw to (xrtdLWX 0j, rId[al pJperl, a1 ithed We pr a safe IA1Ve Throwh partldpakn In our galn wactiol Imtyove thdr ErysKal and mental wellj, aTMI LKMkl so(ial e to wonTrJtE grwih, en, arvj a sfft of wmAIIty, al rf vthith to Ij1r {10 as acllve The trust have rgjard to ijwrity CommIs'S gU1a puL benefit a$ are sa05nl t the chat1ty's w0ye d&Y aTrJ rvab to ts EXt4L pafOaJlaty In SUPF(*ttTWJ U vd0pmt PAK1 lrfe Chae5 of YOU p. ACHIEVEMEpifs AND PERFORMAN( Details ol athle f1 w]IFdn thaan.5 aThl CNef Exeothe's retKffts.
for the Yeor Ended 31 Decemlxr 2925 FINANCIAL REVIEW FinaMial posldon tor ryjmbws canwiry nkJFts Irts&sed dthrrfJ , partarlY MI dwlrhj the peak Lxty for 21T25 as1 ThAlest al strw6 arxl (fjd rv)t ftdly antidpats the reduction In 5euHx1ary WMI. As a Lxxw was nrt tt record& a rt thfidt for the year rf E147,660. TNS fdlo¥ys a rwtal in 2024 a1 rqytsuts a thè tnjstees In malrtalnlrrtj rhaws flnaTrJal Slablity. The bxal bal Lnre5trictal at 31 2025 £695,583 (2024 . £825,585), of thls £35,(0 (2024 . £35,rAIO) relates to deslwed fjJTrts to fa(ifit3te 1¥aC rnaintena rf the fadlltjes wlthin ntr& AYalL3tle reserve5 th exckth glie fixed assets and ¢ggnd funds totsl a thftcjt of EYdO,555 (2024- deficA of£437,018). tota balarte of rEthted fiwKts at 31 favnLv 2025 wa5 £46,49) (2024. £64,148) thi5 relates to wo to (wrled OLt #t In Ilght of annual ddlrlts, tnts d)arfVs flrwthl p(thi dwlT¥J 2025. The trttss rEwJrtse Imr[e of reL#JlkliThJ res05 LW lkne to engJe t dwiV5 final re5111tr ablW to manage lItit In Im)n tharlvs ftknre pla FirruRE PLA Fdlowir#J the tosses rep)rt&l In 2024 a1 2025, tnt5 hjthined ts n1 to dW51fy strearrts to redw rellarre ffi thre caiiWr¥J IrOme. new Ma delwwal durfng 2025, several nts have iEen secmra from 2026 a to make a Mean1fL (tribuOn io 1mtxDd flnarKlal Y21xlity. Ironment across camplThJ, caterirg, a] xbvlVe The the year alad Is dellvertng thLs bLtyL Imp1Th final FWfmre, tej1j ts F4fKeSS of IlIk11r9 the dwrws SeNe*
dMrity. Walesby was fourthd LTKler a cLYtsbI aloptal on 2 Febry 2012 arxl am¥KlgJ on 3 May 2012. The charlty Is an Unfirvated r¥stereA a5 a olarity on 21 May 2012 d)arfty nLKEthr 114734& Details of the Truste4 wlThJpal cllkas aJ¥lw5 a the L&3al arxj AdmIstratIon infnth. The Exeth Offlw has day to day rnanl re¥xrt4lty for Ixjth aThl llnarKially, ttyetkw vAlh tharman he has StrJk a0)xntsty has to Durfn9 2026, the ¢tharfty T11 L re-reirj as a) thartty, an (ated 0)tI In Ilne vlth the iJirty CcThnLsth% fraMth In athjtion, the tharity wll be updatlrKJ Its relanthlp Sc(krt Ass(Mith as Lv)th Iwthd aThJ a5 ow affiat orgarasatlc a[ntment of Tr1$ Set ¢xJt conthth Tlw are bnded on an Ws of ts tharity the Chaimian wh¥e akwkatle ots Tnes Ixlcr to Oryanlsationjl artrnclure quartetty. Truee5 have dLttir•J p slrKe the yearNI are set ¢xrt lèjal d admlnlstraUve 1nfcfflkn. The key managenEnt cunprs of GLry Laurle ExetiVe Ofncu), Carl WNte (Opwations [1ctr} arKJ Ninla Tel)n (finw tXrecb)r). AJI pay apart frc(n the cef ExaVe Offtcw Is de£lded remumtith) is maje up of Luczko, Pjastslr Luff. Dawd HnS aThl ¢ary Laurie. Tr£ ch Exuth pay is d&8miMAI ty tknd arml NAstar Bow to avdd any conflLt I IntwesL tKJnu585 to the b)ard of Tr¥ts In the NonL mJr¥J. Tr trtts have Its final say whelher to acpt the recommeTrkn Bonfft% are In Marth folb)wlThJ the year aftw ts Trir manag accounts are o)mtkt&l; any pay awarts cfft In AWH for the tsx r. Intr(hJuCu lif improv8J finandal cowirg the rorKJe of ftrwicjal admlles. These tharvjes w¥e InteThJ8J to han0 over*Jh¢ Improve finarKlal . 9JPPOrt lrftffmJ edc.Makjng. g0Veman improvement&
REFERENCE AND ADMINTIvE DEfAILS 1147348 Prfndpal address Pdake Road Walesby Newa NG22 9N D Ho*Jns D W1kj G Jones DHW D (apwAntl 22r2r2025) DHU VJ Audltor Mabe LLP dlglble to att as kn temE Son 1212 ofts kt 50 05maskn) Road DEI 2HU SrAldtors Kr95 5kbs Noiungham Banke National Westmlnster Ba 9 Chwth Street Mansfidd NG18 IHP srA7EMEvf OF TRUSTEW RESPONSIBILfTIES tJU5tees are treparirwJ AMLMI Re[ arKI ts finla1 5teMts In accordarKe wlth applicable law and Uted PoThmlJr#J Stsrxl¥ts (Utal ALtOLntsng
Report of theTrust Char1ty law rqiires ts tTUStees to prepare finar¥ statamts for e fbla1 r. that kw, the a tnR arKI fair viÉv4 of the state of affEAr5 Ityx#nlrvJ re9wrtrs appkotion of . obeAve the nthxis arxl kxlTrirAes In Challjes 9)RP' . make JLKhJements armd e¥Jmatos tFklt are msc#)at and dlthsed and a]l In fi1 stateTh' dwty c(rtJnue In at any ttme the fir¥HrwJal pc&tMNI of trt aThl to a)aL bkn to ertr4Jre finarMJal statements comth wlth Ch3rfbes Ad 2011 ar¥J Th thatlty aNI Rwts) Regdabms 2CM)8. are also res[¥51b for saf&jr(lI ttE assets of the tharty aFKI for taj reayThbie s for the i016ar Sign1 fts bthlf by:
IlnaThYal re[l[J framewck tjkit their kryaration Ls apthaLk law a)J Itted In ow Wnlon the firs9al siatrnts: - tdir ¥lew of tke state rf Ihe affalrs a5 at 31 D&anbff 2025 aTKI of Its Bad$ for OnIOn We C[L1 ow In acrordarKe Stsndards crt) OJK) (tS4s {UK)) WKI apICable law. Our rw$1111tie$ urr tIe fijthw d71 kn the ALKlito rewnltMIIUes for the aLhJlt of the 5tat&nats seCli rf ¢xr r4Xrt We are lTh1epe of ttE In accordan with ethka that we Yeknrt to OLr at finarthl statements In the UK lThJLKliry ttE FRC5 EthK31 &aThknd, aThl * hwe ow other ¥hlcal resbil in apwowlate to de a tki rWkwL In aullvng the flnandal atents, LIMx#d that tfre of ts grwJ 0)n bw of or cDndn5 M Irmlthly or CrjktThy, mw ca# Tfi(7 the (hirttls allty to a5 Our re5p¢)n5ililttses aThl the Yw¥&Mlties trÈtstees vlth rESPat to a detEd In the IrJud&J In the Anr1 Rq otrr fiTryMial StatuS aFMI OLf RetKJt of r op(nion on the finarKia Staterr (kE5 the ots Ir{rxmatl aTrl, W to tl exta QtFErv IddY stated in w repyL do e>we55 arry fc4m of asswaTr2 c(KKknion thweon. and, in doww X, c(¥&r ¥thetlw cther Is IrKw5tert Ylth the finarKial statem or our otrtained in tt or (heTrts aNwrs to Material n¥sstat&l. If we klenttfy SLKh rnatrrfal Ir6nc or appKirert material mLSStsten are rwlrwj to d&wmlne whether this rfse to a Matla1 rni55tateTnart final1 statts If, based on worf( we have perfom)&l, we (dLX1e Itwt tlwe Is a matutai MISStaten of ths ott we are ruIr&I to rerKJrt that fa(L We have thirwJ to r4WJt In tNs rgjwd. We have noThJ to re[ In reSirt of matters kn trE (haritles and Rqxxts) RegLtstion5 2008 requlres u5 to rqyt to rf, In . the irformation glven In the Repjrt cé Trustees Is IrKonS kn any materfa wlth the finala1 staternert5: or . the flnanrial ststeMts ¥e N)t in agreffnert w7 the aDrj records rth. or . we have reLdNEd all Inform arnl ¥ wlre for (xjr alL
Yeparatkn of the fir43n(ial statarnts ghE a tnE aThJ falr th, aAI for S corrtrtl In wepèrTrvJ firfjn I]tee5 are resrMslt4e for a55esgrnJ tsdivs to as a 9irvJ dI9JosirwJ, as aFWh3ble, matt5 fElaial to (rrtAn and uthj ttE g)Ing or haNE rb) reall#k atterThth Imjt to th . li
AlItOrS that indudes R&ix¥wble a55UFWKe a high tyjt L5 rxt a guaartee ex15ts. Mi55tatawts can arfse frcth trolkl iy aThl are 0x&deI materlal If, Idual LY kn the the rf5k5 of irrlaries. c(edLres rtlNJ to: 2010. alleged fra. . The matb5 dl>)Jss&J anTh)rwJ ¥vagalt t&im a1 rdLwant tax ardlro where fraud mt In ts flnarthl Statn arKI ary Fnal IndIcato offraud. tharlty for fra1 and IdpthW gr&itst fratkl In the &llity of to manlpulate incfft. In common wilh a4 0j[t5 ISIS (UK), we t¥e ruIr& to 5roJflc to We also obtaln&J urKIu5kn1iThJ rf the W J¥J rvJAatrry Irarne tt otwates In, foaslng on wo¥tOr of Ih)se lav*S reguL3tiL¥B that a Ilrett tht on the determlnation of matertal amoLrts and digjosures in fina101 Stateme Tre key laws aFKI we conded in this
nte%t Inclutsj the 9)RP the FInal Rewilry StaTxlanl 102. flnarloal statrnts txrt ffjmF4iar£e 7Mth may be to the ttorfws atrAlty to cwate to vdd a material peThalty. Ihese Dats Prot8ji RegL1th the Brfiw kt 2010 and Health aThJ Saw 11 12
from regLAaty t. . In addressltYJ fraul rtsk In we te#ed a sampk of lTh))Tr rthed In the yEar thrwgh agreement to the rdevant saks tern15 Co1[ls aKI bank Pthtts(Thly, at an aTh311 dlsoAons on the rtk)n TrA)latiW Irtome In the yew . a1 . In adttressng the risk of fraL#I rroro9wrffit ¢)4wrJe of ¢Ic1S. te5brvJ ts apwOprfaesS of mal entrtes otlEr ]lT. aSWj m in makiTVJ accountlro estimatss are 1ndK2 ¢ a FQter#Jal a5. arml elaW tharItae r3Uonate of ary 5wJnlficant We CMun8ted rant IdeTrtffi laA5 arxl ruJLlatkThs and 8)tIal frafj rl4s to all engawiwrt tsam memb&s rern8in alert to any of TrOynlaN2 wth I arKt regulatlons throwh(xft the WJJ Beca of ttE Irwatt Itmltatlcf6 rf an rt tse Is a ljkit WE Thill rbjt all Irwdarltie5, Incknllro lkne leadlr¥J to a Ial Misstat in finaThJal Statem cr mKOMlae with regulatlon. This ri4[ weases mcffe that compan wlth a law reQat)n ts r0 frpm ewts and tran5athorG rdl&trd in finatNial as wl be Se5s likety to aware of instarS of tj)n<omJlarKe. The risk Is also regJYlir¥J irrwAarltles (Kaning th to fraud rather than wror, A fijrther of w rew&blllUes fLY auAIt rftrE finala1 statemuts is IL8j on the RrorKJal Reporbro Coundl's Webs at YMw.frG¢xg.ukl•Jllt(ThewbiltW TNS desafFdJ'on fryms part of our Rerx)rt ofthe ALAlIt Uso gf our rq Ths rewt 15 made le to ts dkiTIVs trt, as a t¥xty, In atterdae wtth Part 4 of the tharltles (Ao)yJnts Rep)rts) R[AationS 2C)& r IBS so that we mlght state to the tharivs trus tIKise matters are to state to ItErr] in an aL*jor1 rewt aThJ for no other pXe. To fiAEest exttt pItted low, do rw)t axept or assune resbIlity to anyoM o than the chatlty aThl the dwrtys tIl&S as a tKKty. thi5 telrt for the we have forngj. Mabe Ajten LLP el1g1te to art as afjthr of s&tton 1212 of ts Conwptles 26 Derby DEI 2HU
2024 376 3J)76 16,144 Camp*NJ ill727 172.n7 736,563 240,960 207,929 119,780 764,594 253,099 178,697 812 240.960 207,929 113295 113,295 lo873 1518 14,fJ38 lo04 Tot•1 1.480,752 5,tw 1,485,752 1,457,655 EXPENDrnIRE ON RAIYng funds 111,IX7 Ill7 I8,145 14220 1,522,365 1.415fi13 Tatal I19,192 14220 1,633,412 1,514,669 NET INCOMEI(EXPEIIDrnIRE) {ts8,440) 8.438 (9220) (147,f<ll) {&438) (57,014) (},[)2) (17fi58) (147,fjEII) {57,014) RECONCIUATION OF FUNDS Totsl furxts LYW frfflrd 64.148 916,747 TOTAL FUNDS CARIUED FORWARD 695,583 46, 742,on 889,TJ3 14
21Y24 Tanglble assets 16 1.161,138 46,4rA) 1227,628 I,286,¥ 17 20,f26 111,712 17,749 84,453 101,575 111,712 158,488 Ca4) at ba aNI In harnl 2,T26 203,777 CREDrroRs AfTnts falliTrJ due wtthin year 19 (446,llO) (446,130) <327,416) (,4) (155,404) (123,639) TOTAL ASSEfs LESS CURREKr lJ)25,734 46,w i,224 1.162,511 CREDrroRS Amunts fallng due ats more I {,1) (330.151) {2n,rn) NEf ASSErs 695,583 742,073 889,733 FUNDS Urwestrittd knds 69583 825,585 64,148 TOTAL FUNDS 742,073 889,7 firN3rthl Staternts try ts Board of Tnlstes aryl for ISS on ..lu1L.ry..1f.:.. a1 were sgr*d ithlf tsy: Pa 15
2025 2024 405,124 Tax pad 4.124 Purtha5e of tsNJlLle t]xal assets Sale of tslbk thd a (518, 1,518 (87J5) (517,427) Bank InteSt p* on kjars {,541) (27) [219> (15,323) ban5tskM t Inr (1.1) (I,iii) Net Q5h 0ded tyl(L1 In) flnBThJFWJ aar¥iUes (37,783) ChJnge in cash and cash tvalents in the rep Cash and cash equivalents at the Iwlnnlty oethe iew1Mig pwiod 56,913 (,086) lo175 251,661 Cash and cash oqufvalerts atthE Ml of the ryportlng wiod 158,488 101,575 Pa 16
2Q4 (147,660) (s714} 147,494 (950) (698) 18,547 114,126 1,333 (1.518) 21349 {pMfft)CS d15pwI assds Interest patd Tax pald IrKrease In stcth {IncTea5e)/dttrease th ddjtr (2,777) {27.259) 104,&)3 (4,tKII) 352,(3 (21,214) 93,%3 405,124 At 1.1.25 Cath kn At 31.1125 Cath at bank aThl In h 101.575 56.913 101,575 56,913 158,488 ro leases Debts fallirvJ dLe wIthEn I Debts falllng duE thr I (96,018} (16,813) (177,871) 1,112 (94,906) {13,912) (30,725) {58,4851 (236,356) {29J,702) (71285) (361.987) {189,127) (14,3n) (203,499) Page 17
in aLLY)rdan wNh CharlEies SORP (FPS 102) 'p£tr#j aTrJ Repytkr¥J ipi ae5. wlth FInats1 Iwwiiry &arKlanl In the UK and Rlt d Irdand (FPS 102) (aythe l Jar•Jary 2019)., Rrj StsrKl¥d 102 Tr HnaTrJal RekwJtkvJ Stsrkyard applKalk In the UK aThl of Irelar>l awlUe5 kt 201L The finarKtsI chanty Infcrn?t C paje 8 crf the finala1 rotfft ofthe thbriV5 operdtkns a1 nal ReFthirvJ StsJNlard aOble In tt UK aThJ Irdatml IslEd In 2019, the RnarKlal RwtlThJ stsrd apF4cat4e kn the UThte(l arxl of trdarnl (FRS 102), the nK#dhled to Lvtsln [ten at falr val. Tr firorKial statemwts are In whldi Funds Lknrestrtrtd frmds are WdllaL for at di>Jeti( of the trust In furtkeraTr2 cl gewal or wNth ten rased by for paj[lar ptSe5. The cost of rdi51ng and Income All 11KnIng res0 are Ind trb nala1 the dHrfty Is kgalty reMy It Is prolx*)le thatthe te Servi and Is rec£#JnlseJJ the Ser ts (ThitA&e. Interest has eaff. contlnLEd...
knth• Yw Ended 31 Deronts 2025 C¢%U otllgation b) make panents to third wlies, It 15 prrtfjL4e £t 5eiYorrt vlll te dore; . ExpeTrdlbJre tharll IrNJLKle5 nmlrwJ aThl malntttw of Yte and camp athVIt arKI indude Offi ct6ts1 9)nae (L6ts and payrdl cr& are dtrecdy in to parUcLAar h&Irl>S tly alkxth to the cost (rf ral fur#ts aTrJ Depredaljon Is proth at tt folkv41w rates kn (rder to wriie dr eath asset esymated Usef llfe. FreelKld pffwty Lry leasetrd Plant aThJ mathiwy xtures and ffttirwJ5 . 5%.20%onoi 9Taght line 99 . 33% w cost 10% - 33% on 10 . 25% akst Tawble fixaj assets are InNJalty at cost [rsLd at cost LY valualion, galn or10s5 on the of an asset Is dthnlrth as dffererKe bets7 the sde proceeds and t of the asseL arxl Is craliteAI thor1 to profft Ios5. At each rewrj end date. the rity (arryirKJ amounts tar#Jble assets to det8mlne Ihwe 15 ary IlIon that assds ha impalmt los& Ef any suth INIKation e$ts, the rpcovwaEAe of tt a55et ts esUmat&l in to detemlrÉ extart of Impairwt joss (If any). Whtre it [lIe to É8tnate the recoverable anN)unt of an Indwual asseL ts comparry estff53ts alrtt of tr Cash-gUtinQ b) whith a5t bdcrf¥J& RecOVerae anKWt L5 the of fa6r vd- ue kn cr6ts to setl value in use. In aSsirwj value In use. the tstymated fire IlThYs are ds(r#rteJ to their prewt lue wing a &Ytsx dlscrAJrt rate that reflects QJTrwtt market a5sewts of the tine 1e of the ri5k$ 9dfic to the If tIE r0VeratIe amjrtt of an asset (or wllt) estimated to be Ihan S Caj amoun¢ (aryir*J of Its a55& (or 0th-gatlrrfj urtht) Is reduced to Ws recoverabk amounL An ImpalMnt loss b rrIS&j ITnmexllatety In [fft loss, unless the relevant asset Is cwrled at a rv4alugJ arwiL In (ase Ihe Iiryalnnent kJ55 15 Ireabj as a revalualon decr&. p19 cortlnueAI...
ThxJtlon profits from WNe5trnents aNI Iradrg adJ¥lties Orr on in fvrtheJare of the prfmary VAT as ttrity Is able to reilalm a of VAT pdd, be0e c¢ ts tradTrJ athts, u4ng Interest nthd, less Impakwrt ksse5 In tt ose rf tra(k debt0 If aaalt r( Is m639Jr&l at Wdlue of futh d1<oLM at a math£t rate of Instn for a (kbt Cash at bank and In hwd Cath at bank a1 kn haTrJ cath arnl sPMxt<erni hlghty Ik a Krt matt of three or the datr of Kqthsil) cf cWt¥J dqK&t cr sIlar accwrL CRrrIcAL ACCOUIITIM6 JUDGEMEiifs AND I SOURCES OF ESrnIATION UP4CEKfAiiirY that affett tr rwted r4n(Krts of assets aThJ li&1185, t1ykAJre of crJtlThJert assets ilaL411tles at the date of the fknaTr]al Ststents the retK¥t8J rnnts of re4enues aml &ySe5 dUrj tdIorTr J, &lmate5 arKI assWnpy have a gnlficart r of causlng a rnaterlal adiu5trnert to Cry[r art rf assets arnl lairflNJes are th rdatton to sp8afic areas assets ar? 1rj c{str, lrtbal otsIat1)n of oJrt15 on nk¥wJemenf5 )gement that teaknlcal and ec(YK¥nic feasitmlity Is corffirnEd, U1 has re1 a dned milestone accurfThJ to an e5tsLqislHI thte of In detIn1r0 the am¢ to be (¥tslised n&£ssary Imwred, mar• also mak£s assJnptkns aThl estimatss wardlThJ o)nttnwl...
2024 3,035 41 14, 1,354 Gft aid 3,076 16.144 2024 113,295 108,373 2025 2024 1518 2024 Mtxed camplng Mwl Can* Camp f&s and arthrf Camp Fees aTh1 CateriNJ cat1r#j UdllOes IT2,TT/ 736,563 240,960 28,775 87,029 92,125 119,780 764.594 253,099 19,828 74 84,501 312 Wal&y sl Ancjiary ServkEs Ubllles 1,358,179 1316,982 Page 21
2W24 3,263 11,375 io 14,638 2025 2024 Rdal aNI bar o)sts 865 74344 24,742 24,249 111,fr17 93 Co#s (see a15ts { r¥Xe io) rK*e ii) Totsls 628,7f2 893,583 I,2265 2025 2024 126,697 41,338 136,978 20,396 62,285 9,516 84,020 13,220 30,204 89,264 33,843 114,085 9,622 SaThtati( Site trarsporiatson arKI Activifjes & S[5 quip 14,8BI 19,108 85,027 35,885 147,494 Ewt atbvit]es 628,782 $93,811 Pa 22
831,656 1.552 31?75 2025 (haritaNe 21r14 To121 WaS Irare Telep AdvertJ4ThJ (Profit)1105S tx) 5* f a 738,065 36,871 47 10,366 (95)) 682.013 32,gJ3 33,9 20,132 18,838 2,153 18,523 Jjjlt 11,085 893,583 824,265 IZ TRIISTEES REMUNERATION AND BENEFTrs the year 31 DecuniEr 2024. 31 DeCeMr 2024. srAFF COSTS 2025 2024 Wages and sa124ie5 633,0&1 55.294 52,516 2025 2024 PJntral4NJ 41 Otinl...
2025 21 2024 21 FuTrJrnislKKJ 2025 32 2024 32 Thwe wa5 1 (2024., 1) stsff mantv rethMr¥J more £,(1X) h wlth n01[¥ falliThJ been £70,CQO . .()) pw ann1 (2024: £70wI . £vAJ,0 per annl). 14 TAXATION The tax (harge (ffi for the Jtarwas as fi. 2025 2024 L% Wla1 tth: 2025 2024 Profft mUrAd brf ratt of In the UK of 19% Efferts OP. L959 trknl lax drge Totsl rx futmts INCOME AND ENDOVIMENTS FROM 10,544 16,1 med CaWThJ Camp aNI ktr Catertng Anclllary sCes Chthtstle costs 119, 119,780 764,594 253,099 178fi97 812 253,099 178,697 812 lo83 lo83
W•lasty Fore fiJNts 1,518 14,638 14fi38 Totsl 1,452J)55 1,45/,655 EXPENDrnIRE ON Ralsrwj fwKts ,593 %,593 I,4[,393 9220 1,415,613 2,463 Totsl 1505.449 9,220 1,514,669 NET INCOMEI(EXPENDrnIRE) (S34} (3fi20) (57,014) Tota ftmds brow forvwd 878.979 67,768 946,747 rAL FUNDS CARIUED PQRWARD 825, 64,148 889,733 Plant ar#1 lea$dld mbin cosr At l January 2025 Addlttons Di5FQ5a15 1,642 49&5 lio,( 59,947 (7,140) At 31 December 2025 L692,402 Iio,(xN) 52.807 DEPRECIATION At l January 2025 arge for pr Ellmlnata on di5PY 550,840 105. 13,982 1,1 59fi55 292 (7.140) At 31 DecanLv 2025 6562 52J17 NE[ BOOK VALUE At 31 IL 2025 1,035,810 At 31 Dec2mtrr 2024 1,092,037 ,018 292 rjnued...
iiitlrqs k*S Totas At l 2025 AdIOnS 276,646 37.020 (9,945) 7,445 IITrXtr,915 428 (17,1)85) At 31 DemLr 2025 X)3,721 1166,803 DEPRECIATION At l Jarwary 2025 Owr¥Je for r Hlmlnated M dis 181,243 38.ln (9, 5JJ45 1167 810,765 147,495 (17W85) At 31 Dnber 2025 209.470 7212 1,175 At 31 Dernber 2025 94,251 21 1227,628 At 31 DerAnber 2024 95,403 2,400 1286,1gJ prw £1.112 {2024 - £1.111) Val £94, 12024 - ,018). 2024 20526 17,749 2025 2024 711 83,742 PrepayTner 108,632 111,712 84,453
2025 2024 Bank kkins a1 oveJdrnft5 ( rnte 21) Hire Fwrthase [ Thxe 22) Traje tJeditor5 ,T25 i.iii 52,403 37,773 324,118 16,813 I,iii 42,747 13.366 2?79 Othw CTgJIto 27,416 assets drty. In (reAt is ItxonE of £Z48.n8 {2024. £195,406) wtyth rdates to 2025 2024 Bank thns (see Tr)te 21) HI (see rn)te 22) 236256 93,795 177,871 94,917 330,151 2T2,778 21. LOANS anaws mabm behyH: 2025 2024 Amounts fal wrthin 0 d. Bank IS 30,n5 16,813 Amounts fdlfvu a1 )Ea5: Bank loa . 1.2 years 32, 17,952 BaTrk loars. 2-5 years iii,I .926 AmoLrts fall1 due in than RepaYae ty ITtMS. Bar loarts mL¥e 5 iry In51al 92,520 89?51 98.993 ,463 I8171 189,456 Page 27
2025 2024 wttrln one y Llll I,iii In Wre than fi4e 96,018 N(YKWKellaLqe 0rj leas45 2025 2024 Wlthln one 18.[ 362.250 18,rx(I 366,7 In mrE than fr years At 31.1125 At 1.1.25 In fimxts futxts 85 (138,440} 35,t•X> 8,438 DesWjna . Repa FuThl 82585 {138,440) 8,438 695,583 21,E114 (6fi70) 14.934 Tree m¥geMt Van CaterlrKJ 8am aimlmng Wall 2018 LL)J3e T(Mlet Block Roixn Hty)d ste Rc¥ All Terrdn Bl (2,838) 5.249 14,4XI 3354 4.749 13,600 3.104 6,208 (KKJ) (250) {9)0) IXKI) (5,EW) 64.148 (9,220} (8,438) 46,490 TOTAL FUNDS 889.733 (147) 742,073
Wal Fornlt forth• Ye•r Ended 31 Decem 2015 L4,752 {1,619,192) (,440) Kemp LcKSJe CaterfThJ Bam aimknThJ Wal 2018 Lo(kJe {6,670) (s) (s) (250) (SCO) (5CQ) (5,1XKI) (6fi70) {500> [0) (250) (5LM]) (y)0) Robln Fk¢l Sulte Apprerthe BJfKllr (14,220) (9,220) TOTAL FUNDS 1,485,752 (1,633,412) (147KOO) At l.L24 Inft 31.12.24 Genwal fuThJ 843,979 35)YXI (s3,3) ,585 35.IlXJ 878,979 (53,3%) 825,585 Kemp Lodge Tree PlantirYJ Manawent Van GiterfThJ Bam almly Wal 2018 Lodge Trll& BkKk Ron FhJc#l Sulie Rc JI Terraln &. 28274 16,670) 210M 2,838 5,749 2,838 5.249 14,400 (S) c0) (250) (500) (500) 7,208 6,708 s,f0 67.768 (3.620) 64.148 TOTAL FUNDS 916,747 (57,014) 889,733
MOVEMEirf IN FUIIDS. LQ(S5 (1,505.449) (53394) (6,670) (500) () (250) (5ts)) (5tKI) (6,670) () () Caterlng eam almr Wall 2018 [jge Tdlet Bl¢) (500) (sjo) AJE Tmln &ke (9220) (3,620) I.4575 (1,514&A9) (57,014) At 1.124 31.12.25 General fLThI Designatay . Lake R Furnj 843,979 350 {191,> 8,438 35.C((J 874979 (191) 8,438 695,583 Kemp Lc 28274 14,934 MarwJem¥rt Van (28) 5,749 15.2 4,749 13,600 3,104 6,208 aimblng Wal 2018 LcJge Tdlet Bk n Hoc*J R(x l Terrdln ke (1.60)) (sx)) (1.() (i.CKN)) (5fiCrf)) 67,768 (8,438) 46,4 946.747 (204,674) 742,073 Page 30
asfoltth¥5: In I9327 (3,124fi41) (19134) {0) (I,th) (1,6) (5QJ) (I,(MJQ} (1,000) (13,340) (l,c) (1,6) {5LM)) (1,0} (1,0) Catrhrwj Bam aimtlng Wal 2018 Lodge Toilet Bk Rotln Rod All Trin Btk£ {5AK¥J) iO.f4JJ (23,440) (12,840) 1943,407 (3,148,081) (204.674) The pur&)5e a1 anj u { lak£ rqyalr dnat&l is to expaTrJ of lake, bull$ abo ftLMI Ilr & IM[e fa1& knds be swt On suffldent fwthlslNJ womt & com. EMPLOYEE BENEFrroBUGATIOPIS contiibutms ptyable iry the Chanty to the fuThJ aryj a[W[d b) £17,942 12024 . £17.889). Crtlbthons totslllf¥J £nll (2024 - £3,144) wue payaNe to the furKI at the baLaKe sheet RELATED PARTY DISCLOSURES E4xY Limlted Is a rdaied paty as A Bcw, a Trtee, Is a dlrector of that cKJnpany. DurfrKJ the year 31 Dltr 2025 lfr Comp wrthiseil 5er& gThy)ds amwntirwJ to £NI {2024 . £8,154) from Walesby Fost, Sup1 materfals to £35,990 (2024 . £83,230) to Wale5by F(xesL At 31 Dkner 2025 athr5 In(knla1 amount of £27,275 {2024- £nll). ham fsythn Memrfal Tn Is a rdated pJty as Davkl Huthy, a Trth, Ls also a Tnjstee of thit olty, Durlw the year 31 Decdniv 2025 the tharity aThwnts totsllkng £rai (2024- £2,(XXJ) to F(est aty of rOhaM ScrAtt DirKt Is a rElated irty as Dd a Truee, Is a Tnth of that charty, Duriro tr£ year ded 31 2025 £5201 (2024- £11,895) of wage5 TdabNJ tr) Nesta PaJe 31 a)ntInl...
forthe Yar Ended 31 Deewbw 2025 2025 2024 Dorb3tion5 ar lepjes laft 3,035 41 I54 3,076 16,144 113,295 I,373 1518 Camp fees and aLtMties ca Mbxed (ami 736,563 764.9)6 241,960 2539 172,727 119,780 20?28 74J68 84,5Di 87,029 92,125 Wale5by I58,179 1?16, 3263 IlJ75 10,504 14,638 1,485,752 1,457,655 EXPENDrnRE Retsll exw Bar & c05t cl ss Wages 828 85,477 24,742 I56 70,488 24,249 111,047 96,593 Eltty, gas & water Sundrtes 126,697 41,338 65.340 136,978 20,396 62,285 9516 84,020 313,195 Sanltsilon Caled foTwwd 326*7 Thls p]ge thes ftym part of 4atstrKy firn4rthl Statts Page 33
313,195 13,220 30,21J4 89,264 33,843 114,085 I4,1 19,108 85.027 35M5 147,494 Athles & stxyt5 oteFtru a6t of sales 628,762 S9311 ManJgement Wages 738, 682,0 3671 32,f4)3 47,304 33009 lo6 20,132 1.087 ThOne (Prnfit)Ila55 of tw¥itle f a 831fi56 769,fA4 FIMIIC 30 I838 Tax*tlon 4,795 15,495 11)J85 A1 18,523 31275 33,320 1fi33,412 L514,EO9 (147) {rJ,014) Page 34