2021-12-31-accounts

Rggistered number: 08333361 ChaTity numbar: 1156272 THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A company limited by guaranteel UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST IA Company Ilmlted by guarantee) CONTENTS Page R&fer•nce and admlnlslratlva dotsils of Iha company> Its Trustses and adVI￿r$ Trustees. report Independenl examinetrs report ststement of flnancial activitles 10 Balance sh•et 11 Notes lo tho financlal stat8m8nt$ 12-25

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST IA company Ilmlted by guarante8} REFERENCE AND ADMINISTIIATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Trustegs A Ballantyne. Chair l Bartholomew A Clarke A Richmond R Rogers T Thorp Company registered number 08333361 Charity registered numbgr 1156272 Registered office The Thorpe Woodlands Adventure Centre Trust Shadwel Thetford Norfolk IP24 2RX Accountants Lar*ing Gowen LLP Chartered Accountants lfjng Street House 15 Upper King Streat Norwich NR3 1RB Bankers HSBC Bank PIC Head of Centre T Edmonds Page 1

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST {A company limitgd by guaranlag) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The Tnjstees present their annual report together wth the financial statements of the company for the 1 January 2021 10 31 December 2021. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annu￿ report and financi81 statemen15 af the charilable company comply with the current statutory requirements, the requirements of the charitable company's goveming document and the provisions of the Statement of R&commended Practi￿ {SORPI applicable to charities prep8ring their accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS1021 leffective 1 January 2019). Since the company qualifies as small under section 382 of the Companies Act 2006, th8 Strategic report required of medium and large companies under the Companies Act 2006 Istrategic Report and Directors, Report) Regulations 2013 has been omitted. Oblectlves and activlties . Policies and objectlves The objectiv&s of The Thorpe Woodlands Adventure Centr8 Trust ar8" To advance the education of members of the community by emp0￿ring them to learn and to develop through participalion in educatbonal. recreational or leisure activiti8S. To relieve the poverty of young people by the provlslon of affOrda￿e opportunllies to enable them lo participate in healthy recreational activities. To provid& facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have neBd of such facilities by reason of their youth. age, infirmity or disability, financial hardship or ￿la1 circuFnstances with the obj8Ct of improving their conditions of life. To help yDUfVJ people. especially but not exdusively through recreational and leisure time activlties, so as to develop their capabilities that they may grow lo full maturily as individuals and members of society. b. Activitles undertaken to a¢hiav8 objectlvas Th8 Charity achleves il aims ty., Promoting a safe, healthy and w8lcoming environment. Providing a high quality outdoor18aming experience which is inclusive, holistiG and affordable. Offering a broad range of challenglng, adventurous outdwr activiti8S. The charity's objectives are achigved from a mo(lem purpose bullt outdoor centre which it uses to provide accommodation (indoor and outdoor}, together with facilities for a wide range of outdoor adventur8 aclivities on or close to the site. The charity gains support from a wsde range of beneficiaries indudlng tocal schools who attend the centre. e. Main activtties undertaken to further tha CoMpan￿S purposes for the publlc ￿nalIt The Board of Trustees are aware of their duties to ensure activities of the Charity are carried oul in Ihe furtherance of its objectives. All Ihe activllies are given careful consideration by the Trustees against the Charity Commission's guidance on public benefit. Page 2

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST IA company limitod by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Achlevements and performance . Key performance indicators The financial perfO￿nan￿ over the year 1 January 2021 to 31 December 2021 has, of course, again been curtailed by the COVID19 pandemi Income from centr& activities and bookings amounted to £325,37312020.' £129,275), still well below lev8ls seen pre-pandemic bul moving in the right direction. Commèrcial income was £32,949 12020: E22.2611 which is comparable to pr&pandemic levels. The net income of the tharity for the ye8r ended 31 Decemb&r 2021 amounted to a surplus of £39,99812020'. £131.005 deficit). represanling a surplus on general funds of £75,924 and a defit#t of £35,926 on restricled funds. b. Revlew of actlvltlés Since it5 inception this activity ￿ntre has sought to have a tx)sitive effect on the personal d8velopmenl. self- confidence and self-esteem of thè children 8fMJ adults who attend. Such effects are difficult to quantify numerically. Instead we have to rely on a variety of methods to ensure our continuing effectiveness. In no particular order- We place a great of deal of importance on both adult and child customer feedback. This is used to monitor and amend practice as we $6ek to address any issue that arises., We are membeTS of the Assoc18tion of Heads of Outdoor Education Cenlres where current outdoor activity ￿ntre issues are rais8d and positive suggestions made on how to improv& the outdoor education experience of our clients., We follow all health and safety measures recommended by external ass8ssors and guidance from our Lead Tfustee respon￿ble for Activity Provision ar¢d Activity Health and Safety as far as equipment and key operating procedures are concerned. We take pride in the fact that ￿ achleve the Gold Standard in this area. Current staff recognise and newly appointed staff wll be trained to recognis8 the need to raisg any issue of concern or incident from our practice and amend as nBcessary'. Health and Safety of the premlses is also monitored carefully by the Head of Centre and the Lead Trustee responsible for Premises and Health and Safèty. As is the Centre's usual practi￿, Head of Centre and staff have continued to monitor and maintain th& condition of the Centre and all equipment throughout 2021 ready for 2022. Working children especially those who are disadvantaged means we also ensure we hav8 a very clear safeguarding procedure in place. Again, this area Is carefully monitored by Lead Tnjstee responsible for Safeguarding and the Head of Centre. The fact Ihal most groups who had to can￿[ their visit in 2020 immediately r&booked for Ihe following year is a clear indicator of our success. We are optimlstic that our Tegular customers will continue lo rfyturn. We seek to retain and to employ any new staff who are committed to our aims and ethos and who actively seek to help all our cli8nls. Page 3

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST IA Company Ilmited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Achlevements and performancè (continuad All the above bullet points are significant factors in the Centre's success but one of our most significant positive d&v8lopm8nls began in 2019. The Centre Wds in such a healthy financial PDSition we could open to carefully chosen groups who would not be in a financial position to access this facility and gain from what we offer. Trustees designated o body of money from our (x)mmercial income lo be us8d by the Head of Centre, Tim Edmonds, to offer our facility to such groups one of which was Hebron House Rehabilitation Centre for Women in Nomch. Their feedback made it clear how valuable they found the experience. We repeated this opportunity with the same group in 2020 and again the feedback was excellent. In 2021. we were also able to utili5e a sudden cancellation Icovidl by one primary schc%)I lo offer that slot to a very disadvantaged schwl in Thetford for free. This visit was transfo￿atIve for many of the children and the school Is now determined to bwk for 2022. We are delighted that we have been able to develop this aspect of our Work and have decided to offer a froe, one-off residential to a local disadvanlaged schwl each year. . Invo$tm8nt policy and performance The Trustees have the power to invest surplu5 cash as they see fit for the day to day use of the Charity. Given prevalling interest rates, the ongoing pandemic and the operational needs of the Charity the Trustees have decided in 2021>2021 to hold all reserve balan￿$ with its appointed bankers in a combination of current and short tem) deposit accounts. This policy was reviewed in 2021 and the Trust is currently exploring how wo can usg some of our r8seJves to build an accommodatlon and storage facllity- This will allow a greater choice of instructors to apply lo work at the Centre. Flnanclal revlew . Going concem Aft8r making appropriate enquiries. the Trustees have a reason8bl& expebtation that the company has adequate resources to continu& in operational existence for th& foreseeable future. For thls reason, they continue to adopt the going concern basis in preparing the financial stalements. Furth8r details r8garding the adoption of Ihe going concgm basis can be found in the accounting policies. At th8 tim& of signing Ihe financial statem8nts, the trustees have considered the potential impact of Ihe Coronavirus outbreak on the charity- The trustees continue to monitor the position and the potential impact that this may have on both the general economic dimat& and the charitys operatlng capacity. The trustees believe that with a strong loyal customer base and suffiaent balance sheet resour￿ the charity is well pla￿d to develop the Centrè in 2022 by investing in a new accommodation facility. b. Reserves pollcy The Trustee Board has examined thB requiremonls of Th8 Thorpe Vvoodlands Adventure Centre Trust and in th& light of the main risks has agreed that the Charity Mll continue to mainlain sufficient rasarves to enable il lo cA)ntinue its objectives for th8 foreseeable futur&. The Trustees have determined that a surplus of unrestricted funds continues to be accumulated to enable th8 Charity to respond quickly to both potential development opwrtunities and unfor8se8n events. At 31 December 2021. th& tharity had total reserves of £1,988,078 (2020- £1,948.0801 of which £1.100,350 relaled to restricted resfyrves hekl as tangible fixed assets12020: £1.136,276} and £887,728 were unrestricted {2020.' £811,804). Free reserves at th8 yoar end amounted to £647.81012020'. £579,821)- Page 4

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A company Ilmlted by guarant891 TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 c. Princlpal risks and un¢artaintles The Truslaes have assessed the major risks to which th& company is exposed, in particular thos8 related to the operalions and finances of th& company. and are satisfied that systems and procedures are in place to mitigate our &xposure to the major risks. Writing this, we are conscious w8 may again be adversely affected by Coronavirus. We have assessed the situation and recognise that further dosure would have a negative effect financially but we are still in a financially viable position. Of course, further dosure may affect future bookings but W8 feel our customer support is strong and likely to remaln so. In the recent past we relied qulte heavlly on the grants from customer groups such as Actlvlties Unlimited. We remain committed to such groups. We wer& able to offer 8 slightly different activity based vlslt to the families of these children which was most successful and ￿ hope to repeat this experience In 2022. We are an Activity Cenlre and understand the Importan￿ of assessing for all kinds of risk. We have a comprehensive Risk Register that is regularly UFKlated. This register indicates potential fadors in all thg areas covered by tho Lead Trusle8s and the procedures to be followed rf 8 problem occurs. Siruclure, govemance and management Constitution Th& Thorp& Woodlands Adventur& Centre Trust is registered as a charitable company limited by guarant90 and was s8t up by a MemorandLm of Assoclation on 17 Decomber 2012. b. Methods of appolntm8nl or ela¢tion of Trusteos The manag8m8llt of the charlty is the respDnsbility of the Trustees who are elected and c04)pted under the terms of Ihe Articles of Association. Tha board recognlses the need o Trustees lo reflect a wide and diverse range of skills and interests, together th an appropriale relatlonshlp to the Thorpe WocKllands Adventur& Centre Trust. The Tnjstees keep under review Ihe composition of the Board, idenlifying th& need for recrultment processes to tak8 place. Thè majority of Trustees are identified through word of mouth and knowledge of the Charity. Tfuslees will review any potential candidate to ensura that they complemènt the Charity and the Board. D&lails of potential candidates are discussed at board meetings prior to Inviting any potential member to joln. A resolution is hpld lo elect any new Trustees. Newly nominated trustees are briefed by the Chairman and receive bad(ground infomation on the charity, including copies of the governing docum8nl. annual accounts and minutes of recenl meetings. Page 5

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A company Ilmlted by guaranteè) TRUSTEES. REPORT (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 8tructur81 govemancè and managemont (continued) . Organlsatlonal Structurè and de¢islon-making polici The Charity Is administered by the Trustees. Head of Centre and staff at the Trust. In 2018-2019 we undertook significant changes to our system of Govemance and appointed Lead Trustees lo be responsible for particular aspects of the Centre's management. Each Lead Trustee has expertise in their area. Thus we have a Lead Trustee responsible in conjunction with the Head of Centre for the following areas.. Health and Safety of the Premises and Safeguarding. Health and Safely Activity Provision. Key Operating Procedures and Cantre equipment. Personnel Cuslom8r Relations Premis8s and Maint8nanc8 We also have a Finance and Risk Committee of three Tnjstees plus the Head of Centre who monitor the financial health of the Centre. Trustees can call upon th8 whole Board for further advice if needed or wg use outside exp&rtise in areas such as HR where we are aware of the need to fully access the latest legislation. d. Pay policy for key management personnel The tnjslees consider the board of trustees as comprising the management personnel of the charity in ¢harg& of dlrecting and monitoring the charity while the Head Of Centro is responsible for the running and operation of the ch8rity on a day to day basis. All trustees give their lime freely and no truste& remun8ration was paid in the year. Details of trustee axpenses are disclosed in note 11 to Ihe accounts. Plans for future periods The Trustees will ensure that the Chartty wll continue to meet ils charitablè objectives for the foreseeable future, ensuring that a wde rang8 of baneficiaries wll continue to benefit from the TNst. Tho Trust has developed and implemented a Strategic Plan which ￿11 gutde future development. One of the strengths of Thorpe Woodlands is the commitment of slaff and Head of Centre. As such Ihay are always seeking to improve our site. develop the activities and Ihe quality of the experiences we offer. Examples of such developments include the camping p(yJs. new shi)wer block, refurbished shower block, new instructor facilities, a new administrators, office and meeting room. We do nDt undertake such developments casually. In 2020 we were not in thè position to undert8ke much more than finalising developments planned in 2019 and the wntar of 2020. Careful management of surplusès as well as financial help from Breckland and the Govemmenl mean that we were able In 2021 to consider the further improvement of a larger building for equipment storage and instructors, accommodation. All wll be carefully costed and monitored. At thls time. we are not losing regular customers because of th8 pand&mic but should this occur wo may have to consider developing a marketing strategy. Page 6

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A company Ilmlted by guarantee) TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Trustee retlrements There were no retirements during 2021. ststement of Tru$tsg$' rasponsibllities The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the TTUStee5' report and the financial statements in accordance wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿1. Company18w requires the Trustees to prepare financial statements for each financial . Under company law. the Trustees mt*st not approve the fSnancial statements unless Ihey are satisfied that they give a trne and fair view of the stale of affairs of the company and of its inrA)ming resources 8nd 8ppIic8tion of resources, including its incom& and expenditure. for that period. In preparfng these financial statements, the Trustees are requSred to.. select suitable accounting pollcies and then apply them consistently., observe Iha methods 8nd principles of the Charities SORP IFRS 102}', make judgments and accounting estimates that are reasonable and prudent,. slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subj8ct to any material departures disdosed 8nd explalned in the financial statements- prepar6 Ihe financi81 stalemenls on the g￿ng concern basis unless it is inappropriate to presume that the company will contlnue in bU￿￿esS. The Truste&s are responsible for keeping adequate accounting records that are SLrfficient to show and explain the company's transactions and disclose wth reasonable accuracy al any lim8 the financial position of the company and enable them to ensure that the financial statements compty with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and he￿￿ for taking reasonable steps for the prevention and detection of fraud and other irregularitie Approved by order of the members of the board of Trustees and signed on their b8half by.. A Ballantyne (Chair of Trustees) Date-. 202Z Page 7

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

Independent examiner's report to the Trustees of The Thorpe Woodlands Adventure Centre Trust ('the company')

I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2021.

Responsibilities and basis of report

As the Trustees of the company (and 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 the company's accounts 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 the Institute of Chartered Accountants in England and Wales, 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 the company 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.

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THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.

Signed: Dated: 25 March 2022 Christopher Yeates FCA DChA

Larking Gowen LLP Chartered Accountants Norwich

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THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A Company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestrlcted funds 2021 Restrlcted funds 2021 Totsl funds 2021 Total funds 2020 Note Income from: Grants Charitable activitigs Other Irading activities Investments Other income 27,428 325,373 32.949 35 2,184 27,428 370,121 32,949 35 2,184 28,579 237,976 22,261 367 44,748 Total Income 387.969 44,748 432.717 289, 123 Expenditure on: Charitable activilies 329.894 62.825 392.719 420,128 Total expendlture 329,894 62,825 392,719 420. 128 in¢omel(expenditure Transfers between funds 58.075 17.849 118,077) 117,849) 39,998 (131.005) 14 N8t movamont in funds 75.924 {35,926) 39.998 (131,005) Rgconclliatlon of funds: Total furKls brought forward Nel movement in funds 811,804 75,924 1.136.276 135,926) 1.948.080 39.998 2.079.085 (131,005) Ti)tal funds carrled forward 887,728 1.100,350 1.988.078 1,948,080 The Statement of fInan￿81 8Ctivities includes all gains and losses recognised in the year. The notes on pagas 12 to 25 fomi part of these tinancial stslements. Page 10

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST IA company Ilmlted by guarantee) REGISTERED NUMBER: 08333361 BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Notè Flxed assets Tangible assets 11 1,340,268 1,368.259 1,340,268 1.368,259 Curr•nt assets D6blors Cash al bank and in hand 12 22,641 651,235 6,012 607.250 673.876 613,262 Creditors.. amounts falling due within on8 year 13 (26,066 (33,441) Nat curront a558ts 647,810 579.821 Total nel assets 1,988,078 1.948.080 Charity funds Restricted funds Unrestricted funds 14 1,100,350 887,728 1, 136,276 8t 1.804 14 Total funds 1.988.078 1.948.080 The company was entitled to ex&mptSon from 8udlt under section 477 of the Companies Act 2006. The members have not required the company lo obtain an audit for the year in qugstion in accordance wth section 476 of Compani&s Act 2006. The Trustees acknowledge thelr responsibiliti&s for complying wth the requirements of the Act ￿th respect to accounting records and preparation of financial statements. The finanaal statements have been prepared in accordance with th8 provisions applicable lo entiti&s subjecl to the small companies regime. The financial statements weTr approved and authorised for issue by the Trustses and signed on th&ir behalf by: A Bailantyne (Chair of Trustees) Date: The notes on pages 12 to 25 fom part of these financial statements. Page 11

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A company Ilmlled by guaranlee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Ggngral informatlon The Charity is a company limi18d by guarantee. The members of the company are th& Trusteas named on page 1. In the evenl of the company being wound up, the158billty in respect of the guarantee is limited to £1 per member of the company. Accounting policles 2.1 Basls of prapafation of flnanelal statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Statement of Recommended Practice appliCa￿e to charlties preparing their accounts in accordance wlh the Finan£xal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 2019}. the Finanelal Reporting Standard applicable in the UK atKI Republic of Ireland IFRS 1021 and the Companies Act 2006. The financial statements are presented in sterling whlch is the functlonal currency of the company and rounded to the nearest £. The Thorpe Woodlands Adventure Cfrntre Trust Tneets the definltion of a publlB benefit entlty under FRS 102. Assets 2nd liabilities are inltially recognised at historical cosl or transaction value unless othemse stated In the relevant accountlng pollcy. 2.2 Going concern At the time of signlng the financlal statements. the truste8s have consid8r&d the impact of the Coronavirus outbreak on the charity in 2021. Th8 Irustees continue to monitor the position and the potential impact that this may have on both the general economic dimate and the charity's operating capacity. The Iruslees believe thal wth a strong loyal customer base and sufflc4ent balance sheet resources the chartty Is well placed to develop the Centre in 2022. Based on this. the tnjstees have concluded that th&y have a reasonable expaclalion that the Chaiity will have adequate resourcos lo continu& in operational existence for the foreseeable future, and, based on the economic environment recovering wlhin the timefrdme currently being Mridely anticipated. at least twelve months from the dale of signing these financial statements, they therefore continue to adopl th8 wing concem basis of accounting in preparing thes& financial statements. 2.3 Incomg All income Is recognlsed On￿ the company has entltlèment to the income, It Is probable that the incom& will be received and tha 8mount of income receivable can be measured reliably. Grants ar8 included in the Slalem8nl of financial activities on a receivable basis. Th& balance of income received for specific PuTpOS￿ bul not &XP8nded during th& period is shown in th& relevant funds on Ihe Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and Included in creditors as deferred income. Where entitlement occurs before income is received. the income is accrued. Income tax recoverable in relation to donations received under Gift Ajd or deeds of covenant is recognised at th& lime of the donatic#i. Page 12

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policigs leontlnued) 2.4 Expendltur• Expenditure is recognised onr£ there is a legal or constructlve obligation to transfer economic benefit to a third party. it is probabl& thal a transfer of economic benefits will b8 required in settlement and the amounl of the obligation can be measured reliably. Expenditur8 is classified by activity. The costs of each activity are made LIP of the total of direct costs and shared costs, including support costs involved in U[￿ertakIng each activity. Direct costs attributable lo a singl& activity are allocated directly to that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a singlè activity ar6 apportioned bebwe@n those activilies on a basis consislenl with the use of resources. Central staff costs are allocated on th8 basls (rf time spent. and depreciation charges allocated on tha portion of the asset's use. Expenditur& on chaiitsbl8 activiti8s is incuThed on directly und&rtaking the activili8s which further the company's objectives. as w811 as any a&8oGiated support cosls. All gxpenditur& is indusive of irrecDverÈble VAT. 2.5 Interest racoivable Inleresl on funds held on deposil is inctuded when receivable and the amount can be measured reliably by the company. this is nomially upon notrfication of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Tangible fixed assets and d•pr8ciation Any slngle item costin9 more than £1.000 or sp8cific groups of items costing over £5,000 that are considered to have a life longer than the financial year they were purchased in are capitalised. Tangible fixed ass&ts ar8 inilially racognised at cost. After rocognilion, under the cost mtxlel, tangible fixed assets are mgasured at cost less accumulated depreciation and any accumulated impaimienl losse& All costs incurred to bring a 18ngibl8 fixed asset into its intended working ndltion should be induded in the measuremenl of cost. At each reporting date lh& company asS￿&S wh8th&r th8re is any indication of impairmenl. If such indication exists. the recoverable amounl of the asset is detemiined to be the higher af its fair value lass costs to sdl and its value in use. An impairment Iw is recognised where the carrying amount gxceeds the rgcovgrable amount. Page 13

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng pollelès (contlnuod) 2.6 Tanglble flxed assets and depreclatlon (contlnued) Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value aver their estimated useful lives. Depreciation is provided on the followng bas8S- Land and buildings Temporary buildings and infrastructure Plant and machinery 20 /v1Syrsl Straight line with nil residual value Furniture, fixtur8s, fitting5 and 33Y?13yrsl Straight line wth nil residual value equipment Compul8r equipmgnl and software Ass8ts under consttuGtion 2% Straight Ilne 5% (20 yrsl Straight line with nil rasldual value 33%13yrs} Straight line with nil residual valug Thes& are not depreciated until the asset is brought into use 2.7 Debtors Trade and other debtors are recognised at the settlemenl amount after any trade dlscount offered. Prepayments are valued at the amount prepaid net of any trade discounts du&. 2.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-tem highly liquid investrnents wlth a short maturity of three months or less from the date of a(4uisltion or opening of the d&posit or similar account. 2.9 Liabilltles and provlslons Liabilities are recognised when there is an obligation al the Balan￿ sheet date as a result of a past event. it Is probable that a transfer of economic benefit will be required in settlement, and th8 amount of the settl6ment can be estimated reliably. Liabililies are recognised at the amount that the ojmpany anticipates it will pay lo settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions ar8 measured at the best estimate of the amounts required to settle the obligation. Where th& gffoct of the timg value of money is material. the provision is based on the present value of those amounts, discounted at the pr&tax discount rate that reflects the risks specific lo the 118bilily. The unwinding of thè dlscounl is recognised in the Statement of financial activities as a finance cost. 2.10 Flnanclal InstNments The comp8ny only has finan￿al assets and financlal liabillties of a kind that qualify as basic financial instruments. Basic fi'nancial instruments are initially recognis8d at transaction value and subs8quently measured at their settlemgnt value with th8 exception of bank loans vthich ar subsequently measured at amortised cost using the effective interest method. Page 14

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A company limited by guarantgo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting pollcies {contlnued) 2.11 P•nslons The company operales a defined contribution pension scheme and the pension charg& repr&s&nts the amounts payable by th8 company to the fund in respect of the year. 2.12 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the gèn8ral objectives of the company and which have not been designated for olh8r purposes. R8slrict8d funds are funds which are to be used Sn accordance wth specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administerlng such funds are charged against the specSfic fund. The aim and usè of each rèstricted fund is set out in the notes to the financial statements. The Activities Unlimit8d Fund is for the purpose of providing residential breaks in conjunction with Activilies Unlimiled for families and disabled childr8n and young persons. The Propety FurKI represents the use of the Centre by the Charity. Tho Fix8d Asset Fund represents the fixed assets which wer8 Iransferred from Suffolk County Council to the Chaiily for fulure u$8. The Furlough Fund represents funds received in respect of the govemm8nVs Job Rel8nlion Sch8me in response to the Covid-19 pandemic. Investment income, gains and losses ar& allocated to the appropriate fund. Page 15

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST IA company limltéd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Income from grants Unrestrlcted funds 2021 Total funds 2021 Total funds 2020 Governmont grants Covid-19 retail. hospitality and leisure grant Covid-19 business grants Apprenticeship grant 25,000 3,579 24.428 3,000 24.428 3,000 27,428 27,428 28,579 The charity also b6nefited from lo0.￿ business ratss rellef for one year from 1 April 2020. Incom8 from charltable actlvltlas Unrestricted Restrlcted funds funds 2021 2021 Total funds 2021 Centre activities & bmkings Activities Unlimited grant incom8 Activities Unlimlted Income Governm8nt grants- Job Retention Scheme 325.373 325,373 19,166 7,733 17,849 19,166 7,733 17.849 Total 2021 325,373 44,748 370.121 Unrestricted funds 2020 R&stricted funds 2020 Tot81 funds 2020 Centre activities & bookings Activiti8s Unlimited grant income Activities Unlimited income Government grants - Job Retention Scheme 129,275 129.275 24,500 35 84, 106 24,500 35 84,106 Total 2020 129,275 t08,64t 237,916 Page 16

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A Company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Income from other tradlng actlvltles Unrestricted funds 2021 Total funds 2021 Total funds 2020 Commercial income 32.949 32.949 22,261 In the previous year. all Income from olhgr trading activities was unrestrfcted. Investment income Unre5tr1ctsd funds 2021 Total funds 2021 Total funds 2020 Bank in18rest 35 35 367 In tha previous year, all investment income was unrestrictad. Analysis of expendlture on charitable actlvities Centre activhies and booklngs 2021 Total funds 2021 Tot81 funds 2020 Direct costs- Unrestricted Direct costs- Restricted 329.894 62,825 329,894 62,825 353.486 66.642 Total 2021 392,719 392.719 420. 128 Pag8 17

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysls of 8xp8ndlture on charlt8ble actlvltles l¢ontinu8d) Analysls of dlrèct costs Total fund5 2021 Unrestrlcled Restricted 2021 2021 Staff costs Dgprecialion Activity equipment a￿1 repairs Calerlng Rates Light and heat Printing, p051age and stationory Telephon8 IT equipment and support Repairs and maintenance Cleaning Staff development and training Insurance Subscriptions and licences Professional fees Bad debls ILoss}IProfit on disposal of equipment Bank charges Independ&nt Examinerfs fees 213.588 19.801 8,334 12,266 1.515 14.384 447 1.890 951 20.274 5.325 9,812 9.071 2.058 4.927 776 {127) 717 17,623 37.560 231,211 57.361 9,022 13.277 1.640 15.570 484 2.046 1.030 21,947 5,764 10,622 9.819 2,228 5,334 1,011 125 1.186 37 156 79 1.673 439 810 748 170 407 64 1101 59 (1371 776 3,885 3,885 329.894 62.825 392,719 Page 18

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A company15mited by guaranta81 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysis of expendlture on charltable activlties Iconllnued) Analysls of direct costs Icontinued) Total funds 2020 Unresti7Cted 2020 Restricted 2020 Staff costs Depreciation Activity equipment and repalrs Catering Rates Llght and heat Printing, postage and stationery Telephone IT equipment and support Repairs and maintenance Claaning Staff development and training Insurance Subscriptions and licences ProfBssional foes Loss on disposal of 8quipm8nt Bank charges Independent Examine¢s fees 233,840 29,766 4,418 3,883 1,699 10,164 272 2. 158 1,783 46,051 2,501 3.914 7,548 1.238 2.080 (217) 210 2.778 16.313 44, 142 308 271 250. 153 73,308 4,726 4.154 1,818 10,873 291 2,309 1,907 49.333 2,675 4.187 8.074 1.324 2.225 (232) 225 2,778 119 709 19 151 124 3.282 t74 273 526 86 145 (15) 15 353.486 66.642 420. 128 Page 19

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST IA company Ilmlted by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Independent examlnetrs remunoratlon 2021 2020 Fees payabla to the companvs indepondent examiner for the independ8nt examination of the company's annual acwunts Fees payable to the companls indep8ndent examiner in respect of= All laxation advisory services not included above 2,385 2, 778 1,500 Staff costs 2021 2020 Wages and salarios Social socurity costs Other pension costs 208.956 9.591 12.664 227, 135 9.460 13,558 231,211 250. 153 Included in staff costs ar8 redundancy payments totalling £Nil (2020: £6.612). The average number of persons employed by the company during the year was as follows.. 2021 No. 2020 12 14 No employee received remuneration amounling lo mor& than £60,000 in either year. Total employee benefits of key maDagBment personnel were £58,355 (2020: £57.9141. 10. Trustees. remuneration and 8xpen$es Durfng the year, no Trustses received any remuneralion or other beneflts (2020- £NIL). During the year ended 31 December 2021, no Tfustee expenses have been incurred (2020- £Nil). Page 20

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THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A Company Ilmitad by guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 12. Dgbtors 2021 2020 Due wlthln one year Trade debtors Other debtors Prepayments and accrued income Grants receivable 16,811 4,465 828 719 1,039 4,791 22.641 6,012 13. Creditors". Amounts falling duo within one yoar 2021 2020 Trade creditors Other taxation and social security Other ￿edItOrS Accruals and deferred income 5,111 14,283 3,249 3,423 11,499 2,107 7,251 18,584 26,066 33,441 2021 2020 D8ferred income at 1 January 2021 Resources deferred during the year Amounts released from previous periods 14,616 14,616 {14,616) Deferred income at 31 December 2021 14,676 Booking f&es received in advance lotalling £Nil 12020- £14,145) have been defe￿ed to the period in which the b(x)knng will take place. Government grants lotalling £Nil 12020: £471) have been def8rred lo thè p8ri0d in which the relaled costs ar8 incurred. being the period for which the grant was intended to compensat&. Page 22

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST IA Company limited by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 1& Statamgnt of funds Ststsment of funds - current year Balancé at Balance at 1 January 2021 31 Transfgrs inlout December 2021 Incomè Expendlture Unrestrlctèd funds Gelleral Fund 811,804 387.969 {329,894) 17,849 887,728 R8strictsd funds Activities Unlimiled Prop&rty fund Fixed asset fund Furlough fund 26,899 {26,8991 (21.969) {13,957 883,417 252.859 861,448 238,902 17.849 (17,849) 1.136.276 44.748 (62.825) (17,849) 1,100,350 Total of fund5 1,948,080 432,717 1392,719) 1,988,078 Transfers The transfer of £17,849 from the Furlough Fund to the Unrestricted FurKI represents the expending of the grants received on payroll costs in the period for which they were received. Page 23

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATE141ENTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. Statgmgnt of funds l¢ontlnued> Statgment of funds - prior yoar Balance at 31 B818nce 8t l January 2020 Transfers in/out December 2020 Incom8 Exp8nditure Unrestrlcted funds General Fund 900,452 180.482 (353.486) 84.356 811,804 Rostrlcted funds Activities Unlimited Propety fund Fixed ￿et fund Fudough fund 250 905,386 272, 997 24,535 (24,535) (2t,969) (20, 738) (250J 883.417 252,859 84.106 (84, 106) 1, 178,633 708,641 (66,642) (84,356J 1.136,276 Total of funds 2,079,085 289, 123 (420. 128) 1.948.080 15. Analysls of not as50ts ￿tween funds Anaty$ls of nat assats b8twe8n funds - current year Unrestrlcted Restrlctsd funds funds 2021 2021 Total fund$ 2021 Tangible fixed assets Current assets Creditors due within one year 239.918 673.876 126.0661 1.100.350 1,340.268 673,876 (26.066) Total 887,728 1,100,350 1.988.078 Page 24

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 15. Analysis of net as$gts between funds (contlnued) Analysls of net assets between funds - prlor year UnTrstricted funds 2020 Restricted funds 2020 Tot81 funds 2020 Tangible fixed assats Current assets Creditors due within on& year 231.983 613.262 (33,441) 1. 136.276 1.3S8.259 613.262 (33,441) Total 811,804 1, 136,276 1, 948,080 16. Pènslon commitments The Trust participates in the Suffolk Local Govemmenl Pensions Scheme (the 'LGPS') for a number of its staff. The pension charge for the year includes contributions payable to the scheme of £8,41012020-. £9.767}. Employees ￿OSe conlracts of employmenl w8re transferred to the trusl from Suffolk County Council are covored by th8 Local Govemment Pension Scheme, administered by Suffolk County Counul. The Local Govemment Pension Schem& is a funded defined benefit pension scheme. Under the terms of the contract transFe￿Ing lh& employees to the Irust the employees pension entitlemenls were deemed lo be fully funded as at the date of transf8r and wll remain so, provided that a predelemin8d percentage of the employee's salary is paid to the Local Govemment Pension Scheme on an ongoing ba&s. As a resu the scheme is accounted for as if it were a defined contribution scheme and the cost of participating in the scheme is laken as equal to the contributions payable to the scheme for the accountlng period. Th6 charity also operates a separate dpfined contribution pension schem6 and &mploye&s who have joined th8 company since 1 November 2014 have been able lo join this schemg. Contributions are charged to the Statem8nt of Financial Activities in the year in which they are payable and amounted lo £4.52312020- £3,797). 17. Rolaled party transactlons During the year, purchases of £1,995 (2020: £1.8241 were made from RCR Servioes (UK) Ltd, a company of whlch R Rogers, a trustee, is a director and shareholder. During the year. purchases of £1.541 12020: £NIII were made from Cannon Clark& Archltects, a company of which A Clark8, a trustee, is a dlrector and shareholder. Pag8 25