Regi5ter&d number.. 08333361
Charity number.. 1156272
THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
(A company limited by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCtAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limited by guarnntgel
CONTENTS
Page
Reference and administrative details of the company, its Trustees and advisers
Trustee5' report
Independent examinerfs report
9-10
Statement of financial activities
8alance sheet
12
Statement of cash flows
13
Notes to the financial statements
14-28

**(A company limited by guarantee)** 

## **THE THORPE WOODLANDS ADVENTURE CENTRE TRUST** 

## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023** 

|**Trustees**|A Ballantyne, Chair|
|---|---|
||I Bartholomew|
||A Clarke|
||A Myatt|
||A Richmond|
||R Rogers|
||S Catton (appointed 10 March 2023)|
||T Thorp (resigned 9 June 2023)|
|**Company registered**<br>**number**<br>08333361<br>**Charity registered**<br>**number**<br>1156272<br>**Registered office**<br>The Thorpe Woodlands Adventure Centre Trust<br>Shadwell<br>Thetford<br>Norfolk<br>IP24 2RX<br>**Accountants**<br>Larking Gowen LLP<br>Chartered Accountants<br>1st Floor, Prospect House<br>Rouen Road<br>Norwich<br>NR1 1RE<br>**Bankers**<br>HSBC Bank Plc<br>**Head of Centre**<br>T Edmonds||



Page 1 



THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
{A company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report together wlh the financi81 slalements of the company for the 1
January 2023 to 31 December 2023. The Annual report seNes the pufposes of both a Trustees, report and a
directors, report under company law. The Trustees confim that the Annual report and financial statements of
the charitable company comply wlh the currenl stalutory ￿qUIrements, the reqLJirements of the charitable
company's goveming document and the piovisions ol the Statement ol Recommended Praclice ISQRPI
applicable lo charities preparing their accounts in accordance wth the Finanual Reporting Standard applicable
In the UK arKJ Republic of Ireland IFRS1021 (effective l January 20191.
Since the company qualifies as small under 5&tion 382 of Ihe cc￿panieS Act 2006, the Strategic report
required of medium and large companies under the Companies Acl 21￿ Islralegic ReFort and Directors,
Report) Regulations 2013 has been omitted.
Objectives and activities
a. Pollcles and objgdives
The objectives of The Thorpe Woodlands Adventure Centre Trust are",
To advance the education of members of the community by empowering them lo learn and lo develop
Ihrough participation in educational. wreational or leisure &livilies.
To relieve the poverty of young people by the Provi￿on of affordable opportunities to enable them lo
participate in healthy recreational activities.
To provide facilities in the interests of so¢ial welfare for recreation or other leisure time occupation of
individuals who have need of such facilities by reason of thar youth. age. infirmity or disability, financial
hardship or social circumstances wilh the object of improving theif conditions of life.
To help young people, especially but not exclusively through recreational and leisure time activities, 50
as lo develop their capabilities that they may lo full maturily as individuals and members of society.
b. Activities undertaken to achieve objectives
The Charity achieves it aims by.
Promoting a safe. heallhy and ￿elCoM1￿g environment.
Providing a high quality outdoor leaming experience %thich is indusNe. holistic and affordable.
Offering a broad range of challenging. advenlurous ouldLX)r ￿tIVItIeS.
The charity's objectives are aKhieved from a mcxjem purpose built outdoor centre which il uses lo provide
accommodation lindoor and outdoorl, together with facilities for a ￿de ran9e of outdoor adventure activities on
or close to the sile. The charity gains support from a ￿de rarvje of beneficiaries including local %hools who
attend the centre.
Page 2

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limited by guardnteel
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENOEO 31 DECEMBER 2023
Objectives and activities Icontinuedl
c. Main activltigs undertaken to further the company's purposes for the public benefil
The Board of Trustees are avrare of their duties to ensure activities of the Charrty are carried out in the
furtherance of its objectives. All the activities are given careful consideration by the Trustees against Ihe
Charity Commission's guidance on public benefrt. Some commerci81 income is raised. for example. from Fore$l
Holidays la holiday company based in East Harling Forestl and renting out the ￿MpIng pods. All such income
is used to supplement and support our charilable activities.
Achievements and perforniance
a. Key pertorniance indicators
The financial performance over the year 1 January 2￿23 10 31 December 2023 has b￿n affected lo a far lesser
deg￿e by the pandemic and The Thorpe WooNJland5 Adventure Centre Trust continues to thrive.
Income from centre a￿1vIlle$ and bookings amounted to £698.30412022." £558,714}. Ccmmercial income was
£20,75312022'. £31,419).
The nel income of the charity for the year ende(131 December 2023 amounted to a surplus of £131,91812022.'
£103,848), representing a surplus on general funds of £166.012 arKI a deficit of £34,094 on restricted luThJs.
b. Review of activities
Since ils inception this artivily centre has sought lo have a rKJwtive effect on the personal development. sell-
confidence and seK-esleem of the children and adults who attend. Such effects are difficult to quantify
numerically. Instead, we have lo rely on a variety of meth(xls to en9Jre our continuing effectiveness In no
particular order".
We place a greal of deal of importance on trx)th adult and child customer feedback. This is used to
monitor and amend pra¢11￿ as we seek to address any issue that arises. As an example of this positive
feedback, we ￿Ceive many letters such as this one from the headteacher of Great Yarmouth Primary
School."
"De8rSl8ff al Th0￿e W(xxJ8nds A￿entUre CenlTr.
I would like to thank you for the Trsidenfial visit gwen lo Great Yamioulh Primary Academy. This was an
eXcep1￿nalty generous offer and one which our children l*nefited In)m iminensely. For Ihe majority ol Child￿
this was a once in a lrfelime opportunity and one whKh supwted them ￿1 leafflww aboul Ihemselves, others
and the wohd abound them.
Your generosity and outstanding mmitment lo p￿Y#ll￿g the best &XP8rien¢e lor the children was phenomenal
and one wh￿h ensured Ihe Inp was one Ihal rp￿￿￿ wilh them lrfelLvFg.
As a Sch(K￿ our detemiinalion to make SU￿ that each child is able to experience the same opportunilies Ihal
children in other SCh(￿lS experien￿ is relentless and the ￿sIdential Inp has wnlribuled lo our OVera￿hIng
vision 8nd v&lues and so is even MO￿ apprecialed.
As a team you We￿ fanlaslK and ￿allY underslLThI the needs of the chiklrefi making sure Ihey We￿ able lo
push Ihemselves lo wmplete aclNilies Ihey didn't think possible.
Extract from a letter of thanks from Mrs G.Guy, Great YanrN)ulh PrimaryAcademy"
Page 3

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Achievements and performance (continued)
We are members of the Association of He￿1$ of OutdLx)r Ed￿at￿1n Centres where current outdoor
activity centre issues are raise(l and posilive suggestions made on to improve the outdoor education
experience of our clients".
We follow all health and safety measures recommended by extemal assessors and guidance from our
Lead Trustee ￿sponsible for Activity Provision and Activity Health arxj Safety as far as equipment and
key operating procedures are con￿r[￿. We take pride in the fact that we achieve the Gold Standard in
Ihis area. Current staff re¢ognise and n￿thY apFx)inted staff will be (rained lo recognise the need lo raise
any issue of concem or incident from our prxtice and amend as necessary",
Health and Safety of the premises is also monitored carefully by the He* of Centre and the Lead
Trustee respongble for Premises and Health and Safety. As is the Cent￿'S usual practice. Head ol
Centre and staff have ContinL￿d to monitor and mainlain the condition of the Centre and all equipmenl
throughout 2023 ready for 2024. As our Lead Trusiee for this aiea retired in 2023 we have appointed an
exlemal assessor to continue Mih this work.
Working wth children especially Ihose who are disadvantaged means we also ensure we have a very clear
safeguarding procedure in place. Again, this aiea is carefully rnonitored by the Lead Tiuslee
responsible for Safeguardin9 and the Head of Centre.
We continue lo benefit from a strong customer base Ihe majority of whKh continue to relum on a regular
basis.
We seek lo relain and lo employ any staff who are committed lo our aims and ethos and who
actively seek to help all our clients.
All the ak)ove bullet points are significant factors in the Centre's success but one ol our most significant positive
developments began in 2019. The Cenlre was in such a healthy financial position we could open lo carefully
chosen groups who would not be in a finan￿al position to a¢ce&8 this facility and to gain from wh81 we offer
Trustees designated a body ol money fiom our commercial income to be used by the Head of Centre lo offer
our facility lo su¢h groups. The Great Yamioulh Primary Academy vistt was an example of ihi5 work.
C. Investment policy and perfomiance
The Trustees have the power lo invest surplus cash 35 they see fil lor the day-to-day use of Ihe Charity. Given
prevailing interest rates, the ongoing pandemic 8nd the operational needs of the Charity the Trustees had
decided in 2020-2021 to hold all reserve balances with ils appointed bankers in a combination of current and
short-term deposit accounts. This policy was reviewed in 2022 and the Trust made the decision lo use some of
our reserves lo develop some instructor ac¢ommodalion. To this end, the Trust purchased 1. Thorpe Fam
Cotlage with the aim ol developing rt as instructor accommodation. A budget was sel and work on the sile was
begun in 2023 and wll ¢ontinue into 2024. Al this lime, we predid the wimmcxjalion wll be completed in
spring 2024 and instructors wll be a￿e to move in.
Page 4

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA eornpany limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Financial review
a. Going concem
After making appropriate eTh]uiries. the Trustees have a reasonable expectalion that the company has
adequate resources lo continue in operational existence for the fo[eseeab￿e lulure. For this reason. they
continue to adopt the going concern basis in preparing the financaal statements. Further details regarding the
adoption of the going concem bass can be found in Ihe accounting policies.
b. Reserves policy
The Trustee Boaid has examined the requirements of The Thorpe Wwdlands Adventure Centre Trust and in
the light of the main risks has agreed that the Chawity ￿11 continue lo maintain suff Icienl reserves lo enable il to
continue ils objectives for the fo￿Seeable future. The Trustees In 2021 detemined that a surplus ol
unreslricled funds would continue to be accumtjlated to enable the Charity to respond quickly to both potential
development opportunities and unforeseen events. It was agreed that a minimum level ol free reserves should
be maintained of £2(XJ.OW.
Al 31 December 2023. the charity had total reserves of £2.223.844 12022.. £2.091,9261 of which £1,032,852
related to restricted reserves held as tangible fixed assets12022.' £1.Of£.2561 and £1.190.992 were unre51rieled
12022. £1,025,670). Free reserves at the yearend amounted lo £387.113 12022.. £423.1391 of which il is
expected £123,155 wll be spent on Ihe development ol the new instructor accommodation al 1 Thorpe Fam
Collages.
e. Principal rfsks and uncertainties
The Trustees have assessed the majoi risks to which the company is exposed. in particu&1 those related lo the
operations and finances of the company. and are satisfied that systems and pr￿edureS are in place lo miligale
our exposure to the major risks.
In the recent past we relied quite heavily on the grants from customer gr￿pS such as Activities Unlimited. We
remain ¢ommilled lo such groups. We were able lo offer a slightly diffe￿nI aclivily-based visit lo the families of
these children which was mosl successful and h(4)e lo repeal this experience in 2024.
We a￿ an Activity cent￿ and understand the importance of assessing for all kinds of risk. We have a
comprehensive Risk Register that is regularty updated. This register indi￿teS potential factors in all the areas
covered by the Lead Trustees and the pr(￿edureS to be foll0v￿d if a problem (￿ul$.
Page 5

THE THORPE WOODL4NDS ADVENTURE CENTRE TRUST
IA company limited by guarnnteel
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Structure. governance and management
Constitution
The Thorpe Wwdlands Adventure Centre Trust is cegistered as a chantable company limited by guarantee and
was sel up by a Memorandum of Association on 17 December 2012.
b. Methods of appointment or election of Trnstees
The management of the charity is the ￿s[%)nsIbIlity of Ihe Trustees vA)o are elected and co-opted under the
terms of the Articles of Association.
The board recognises the need of Trustees to reflect a wide and diverse range of skills and inleresls, logelher
with an appropriate ￿latIOnShIp lo the Th￿e W<J)dLgnds Advenluie Centre Trusl.
The Trustees keep under review the Comp￿110￿ of the Board, itlentifying the need for recruitment processes lo
take place. The majority of Trustees are identified Ihiough ol mouth and knowledge of the Charity.
Trustees will review any potential candidate to ensure that they complement the Charity and the Board.
Details of potential candidates are discussed at board meetings prK)r to inviting any polentsal member lo join. A
resolution is held lo elect any new Trustees.
Newly nominated trustees are briefed by the Chaimian and recwve bad(ground infomalion on the charily.
including copies of the governin9 documenl. annual accounts and minutes of recent meetings.
c. Oryanisational structure and d￿ls1on-Maklng policies
The Charity is administered by the Trustees, Head of cent￿ and staff at the Trust.
Our system of Govemance is based on Lead Truslees who are ￿spOn￿ble lor particular aspects of the
Centre's management.
Each Lead Trustee has expertise in their area. Thus ￿ have a Lea1 Trustee responsible in conjunction with
the Head of Centre for Ihe lollowng areas-.
Health and Safely of the Premises and Safeguarding,
Health and Safely Activity Provision. Key Operating Procedures and Centre equipment. This p0511ion is
currently covered by an exleinal assessor.
Personnel
Customer Relations
Premises and maintenar￿e
We also have a Finance and Risk Committee ol three Trustees plus the Head of Centre who monitor the
financial heallh of the Centre.
Trustees can call upon the whole Board for further thice il needed or we use outside expertise in areas such
as HR where we are aware of the need lo lully access the latest legislation.
Page 6

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company Ilmited by guarantee)
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Structure, governance and management Icontinuedl
d. Pay policy for key management personnel
The trustees consKler the board of trustees as compllsing the management personnel of the charity in charge
of directing and monitoring the charity while the Head of Centre 15 responsible for the running and operation of
the eharity on a day-to-day basis. All trustees gwe their time freely and no trustee remuneration was paid in the
year. Details of trustee expenses are disclosed in note 10 to the accounts.
Plans for future periods
The Trustees will ensure that the Charity will conlinue to meet lis charitable objectives for the foreseeable
future. ensuring that a wide range ol beneficiaries wll continue lo benefit from the Trust.
The Trust has developed arKI implemented a Slrategic Plan which will guide futu￿ development.
One of the strengths of Th01￿ Woodlands is the commitment of staff and Head ol Cenlre. As such they are
always seeking to improve our site, develop the activities and the quality of ihe experiences we offer. Examples
of such developments include the camping p(*Js, ne44 shcmer blcKk, refurfDished shower block. new instructor
facilities. a new administralors, office and meeting rts)m. We also seek lo develop the challenges we offer our
visitors and an activity called the Treelop Drcp has been added lo the sile.
We do not undertake such developments casually. Frcyn new activrties lo the instructor accommodation, all are
carefully costed and monitored.
New trustees and trustee retirements
In 2023 we weleomed Sarah Smith as a new trustee vA)o has a skill sel that wll prove useful lo our Trust.
Teresa Thorp, Lead Tfustee lor A¢tiviiy Provi￿0￿ and Adivity ￿lated Health and Safety retired from the Board
of Trustees during 2023.
Page 7

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
{A company limited by guarantee)
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENOED 31 DECEMBER 2023
Statement of Trustees, responsibilities
The Trustees (who are also the directors of the company for the purposes of company lawl are respon￿ble lor
preparing the Trustees, report and the financial slalements in acc¢Ndance wlh applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra¢ticel.
Company law requires the Trustees lo prepare financial statements for eath financial year. Under company
law, the Trustees must not approve the financial statemenls unless they are satisfied that they give a true and
fair view of the slate of affairs of the company and of its incoming resources and application of resources,
including its income and expenditure. for that period. In prepaiing these financial statements, the Trustees are
required lo..
select suitable accounting policies and then apply them cOn￿stentIy,.
observe the methods and principles of the Charities SORP IFRS 102).,
make judgments and accounting eslimales that a￿ ￿8$Onable and prudent-,
stale whether applicable UK Accounting Star)dards IFRS 1021 have been followed. subject lo any
material departures disclosed and explained in the financial statements.,
prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume that the
company wll continue in buwness.
The Trustees are responsible for keeping adequate accounting fecords that are sufficient to show and explain
the company's transactions and dI￿105e with reasonable accu￿Y at any time the financial position of the
company and enable them lo ensure that the finan¢01 slalemenls compty with the C(xnpanies Act 20(E. They
are also responsible for safeguarding the assels of the company arKI hen￿ fof taking reasonable steps for the
prevention and deteclion of fraud and 01h￿ irregularits"es.
Approved by order of the members of the board of Trustees and signed on their tehalf by..
A Ballantyn&
(Chair of Trusleesl
Dale." 15 March 2024
Page 8

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limited by guarantee}
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Independent examiner's report to thg TTustee5 of The Thorpe Woodlands Adventure Centr&
Trust I'the company'l
I report to the charity Trustees on my examin81ion of the accounts of the company for the year ended 31
December 2023.
Responsibilities and basis of report
As the Trustees of the u)mpany land ils d1￿CtOrS lor the purposes of company lawl you are responsible lor the
preparation of the accounts in accordance wth the requirements ol the Ccthpanies Act 2006 Ilhe 20C6 Act'l.
Having satisfied myself that the ac¢oun:s of Ihe company are not required lo be audited under Part 16 of the
2006 Act and are eligible for independent examination, I report in ￿spect of my examination of the company's
counts carried out urKleT section 145 of the Charities Act 2011 Ilhe 2011 Act'l. In carrying out my
examination I have fdlowed the Directions given by the Charity Commission under section 14515llbl of the
2011 Act.
Independent examiner's statement
Since the company's gross income exceeded f250,CIK) your examiner must be a member of a body lisled in
section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examin*ion because l am a member
of the Institute of Charte￿d Accounianls in EnglaThJ aTh1 Wa￿s. whuh is one of the listed bodies.
I have completed my examination. I confimi that no matters have come to my attenlion in connection wlh the
examinalion giving me eause lo believe..
accounting re￿rdS were not kept in respect of the cc*npany as required by se¢lhon 386 of the 2006 Act..
the accounts do not accord wth those re¢ords'. or
the accounts do not comply with the accounting requirements of section 3￿ of the 2006 Act other than
any requirement th81 the accounts give a 'lrue and fairf view wthich is not a maller considered 8s part of
an independent examination.. or
the accounts have not been prepared in accordance with the methods and principles of the Slalement of
Recommended Practice for accounting and reporting by ¢haritie5 applicable lo charities preparing their
accounts in &cordance wth the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021.
I have no concerns and have come across no other matters in connection wth Ihe examination lo which
attention should be drawn in this rewrt in order to enable a proper understanding of the a¢counls lo be
reached.
Page 9

THE THORPE WOOOLANDS AOVENTURE CENTRE TRUST
{A Company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT ICONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
This report is made solely lo the company's Trust*s. as a body, in accordance with Part 4 of the Charities
IAc¢ounts and Reports) Regulations 2008. My work has been undertaken so that I might state lo the company's
Trustees those matters l am requireé lo slate lo them in an Independent examinerfs report and lor 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.
d 1,1. /,
115
Daied..
3 May 2024
Christopher Yeates FCA DChA
Larking Gow?n LLP
Chartered Accounlanls
Norwich
Page1Q

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
{A company limited by guarnntee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 DECEMBER 2023
Unr¢$tricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Total
lunds
2022
Note
Income from:
Gran15
Charitable activities
Other trading activities
Inveslmenls
2.000
698,304
20,753
9.394
7.945
2.000
728.394
20.753
9.394
7.945
7,0(X)
585, 939
31,419
448
2,666
30.090
Other income
Total income
738,396
30.090
768.486
627.472
Expenditure on:
Charitable activities
574,884
61,684
636,568
523, 624
Totsl expendtture
574.884
61.684
636,568
523,624
Net incomellexpendlturel
Transfers between funds
163,512
131,5941
12.5001
131,918
103.848
15
Net movement in funds
166.012
134.0941
131,918
703, 848
Reconciliation of funds:
Total funds brought forward
Net movement in funds
1.025,670
166.012
1,066,256
134,0941
2,091,926
131,918
1.988.078
103,848
Total funds carried forward
1,191.682
1.032.162
2,223,844
2,091, 926
The Slalemenl of financial aclivilies irbcludes all gains and losses recognised in the year.
The notes on pages 14 to 28 form part of these financial slalements.
Page 11

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limited by guarantee)
REGISTERED NUMBER: 08333361
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Fixed assets
Tangible assets
11
1,836.731
1,668, 787
1,836.731
7,668. 787
Currgnt as$ets
Debtors
Investments
Cash al bank and in hand
12
13
23.273
19,837
225,(X)O
212,191
386.535
409.808
457,028
Creditors.. amounts falling due within one
year
14
122.6951
(33.889)
Net currènt assets
387.113
423, 739
Total net assets
2.223.844
2,091, 926
Charity funds
Reslricled funds
Unrestricted funds
15
15
1,032.162
1,191,682
1, 066,256
1, 025.670
Total funds
2,223,844
2, 091.926
The company was entitled lo exemption from audit Y￿ler section 477 of the Companies Act 20L￿.
The members have not requir￿ the company to obtain an audit for the year in question in accordance wlh
section 476 01 Companies Act 20(￿.
The Trustees a¢kno￿edge their re5pon5ibililies foi complying wlh the cequirements of the Act with resp￿1 to
accounting ￿CordS and preparation of financial stalemenls.
The linancial statements have been prepared in accordance with the provi&ons applicable lo entities subject lo
the small companies regime.
The linancrdl slalemenls were approved and authorised for issue by the Trustees and signed on their behalf by..
A Ballantyne
(Chair ol Trusleesl
Date.. 15 March 2024
The notes on pages 14 10 28 fomi part of these linancial stalemenls.
Page 12

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Cash flows from operating activities
Nel cash used in operating activities
194,081
176,363
Cash flows from investing activities
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
1,275
1246,0121
225.000
8. 567
(398, 974)
(225, 000)
Net cash used in investing a￿l¥ltIeS
119,7371
1615,4071
Change in cash and cash equivalents in the year
Cash and cash equivalents al the beginning of Ihe year
174.344
1439.0441
651.235
212,191
Cash and cash equivalents at the end ofthe year
386,535
272, 191
The notes on pages 14 to 28 forni part of these financial statements
Page13

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENOEO 31 DECEMBER 2023
General inforniation
The Charily is a company limited by guaranlee. The rneM￿rs of the company are the TrLJStees named
on page 1. In the event ol the company being ￿￿Und up. the liability in respect of the guarantee Is limited
to £1 per member of the company.
Accounting pollcies
2.1 Basis of preparation of financial statements
The linan¢ial statements have been p￿pared in accordance wth the Charities SORP IFRS 1021-
Accounting and Reporting by Charrties." Slalemenl of Reccffimended Practice applicable lo charrties
preparing their accounts in accordan￿ with the Financial Repc>rting Standaid applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1(r21 and Ihe Companies Act 20(E.
The financial statements are presented in slerting vthich is the functional currency of the company
and rounded to the nearest £.
The Thorpe Woodlands Adventure Cenlre Trust meets the definition of a public benefit entity under
FRS 102. Assets and liabilities are intiially recognised 31 historical cost or transaction value unless
olheN4ise sialed in the relevant acccwnling policy.
2.2 Income
All income is recognised once the ccffipany has entitlement lo the income, it is probable th81 Ihe
income TrMII be received and the amount of income receN8ble can be measured feliably.
Grants are included in the Ststement ol financial acb"vities on a weivable basis. The balance of
income received foi 5pe¢ific purposes but not expended during the period is shown in the relevant
funds on the Balance sheet. Where income is ieceived in advance of enlillement of receipt, ils
reC￿JnitIOn is deferred and included in creditors as defeThed income. Where enlillement occurs
before income is received. the income is accrued.
Income lax recoverable in relation to donations received under Gift Aid oi deeds of covenant is
recognised al the time of the donation.
Olhei income is recognised in the peri(Kl in which it is receivable and to the exlenl the goods have
been provided or on completion of the service_
2.3 Expendlture
Expenditure is recognised once there is a legal or constructive obligation lo Iransler economic
benefit to a third party, it Is prc4)able that a transfer of ewnomic benefits will be required in
selllemenl and the amount of the obligation can be measured reliably. Expenditure is classified by
aclivily. The costs ol each activity a￿ made up of the total of direct costs and shared cosls,
including support costs involved in uThlertaking each activity. Direct costs allributable lo a single
activity a￿ allocated directly to that aclivily. Shared cosis whieh contribute lo more than one activity
and support costs vknich are not attributable lo a sir¥Jle activity are apportioned between those
activities on a basis consislenl with the use of resources. Central staff costs are allocated on the
basis ol time spent, and depreciation charges allocated on the portion of the asset's use.
Page 14

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
{A company limited by guarnnteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng pollcles (continu￿)
2.3 Expenditure Icontinuedl
Expenditure on charitable aclivrties is inCUr￿d on direcuy undertaking the activities ¥thich further the
company's obje¢tives, as well as any associated support costs.
2.4 Interest receivable
Interest on funds held deposit is inclLKled when ￿￿e1Vable and the amount can be measured
reliably by the company.. this is nomially upon notification of the interesl paid or payable by Ihe
iristilulion wlh whcffi the funds are dep05iled.
2.5 Tangible fixed assets and depreciation
Any single item costsng more Ihan £1,000 or specific groups of items costing over £5,000 that are
con￿dered to have a life longw than the financral year they We￿ purchased in are capilalised.
Tangible fixed assets are initially T￿09nIsed al cosl. After recognition, under the cost model.
tsngible fixed assets a￿ measufed al cost less accumulated depreciation and any a¢cumulaled
impairment losses. All cost5 incurred lo bring a tangible fixed asset into ils intended working
condition shcyjld be included in the measurement ol cost.
Al each reporting dale the company assesses whether there is any indication of impairmenl. If such
indication exists. the recoverable amount of the asset is determined lo be Ihe higher of ils fair value
less costs lo sell and its value in use. An impairment loss is reccgnised where the carrying 8mount
exceed5 the recoverable amount.
Depreciation is Charged so as lo all(Kate the cosl of tangible fixed assets less their residual value
over their estimated useful lives,
Depreciation is provided on the followng bases."
Land and buil¢Jings
Temporary buildings and
InfraStr￿cture
Plant and machinery
Fumiture. fixtures, fittings and
equipmenl
Computer equipment and
software
Assets under construolion
20h Straight line
5.10120 yrsl Sliaighl line wlh nil residual value
20%15yfsl Straight line with nil residual value
330A13yisl Slrai9hl line wilh nil residual value
33%13yrsl Straight line wth nil residual value
These are not deprèciated until the asset is
brought inlo use
2.6 Debtors
Trade and other debtors are recognised al the settlement arn￿nI after any trade discount offered.
P￿paymentS are valued al the amount prepaid nel of any trade dis¢ounts due
Page 15

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng pollcles Icontinuod)
2.7 Cash at bank and in hand
Cash al bank and in hand indudes cash and short4emi highly liquid investments wth a short
malurily of three months or less from the date of a￿UlSi110n or opening of the dewsit or similar
acctxjnt.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation al the Balan¢e sheet dale as a result of a past
event. it is probable that a transfer of economic benefit will be required in seltlemenl. and Ihe
amount of the settlement can be estimated reliably.
Lrabilities are recognised al the amount that Ihe compaThy anticipates it will pay lo settle the debt or
the amount il has received as advanced payments for the goods or services il must provide.
Provisions are measured at the best estimate of the amounls required lo settle the obligation.
Where the effect of the time value of money is material. the provision is based on the present value
of those amounts, discounted at the pre-tax discount rale that reflects the risks specific lo the
liability. The unwnding of the disiy)unl is recognised in the Statement of financial activities as a
finance cost.
2.9 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as ba51¢
financial instruments. Basic financial instrumenls are initially rec(NJnised at trans8¢tion value and
subsequently measured al their settlement value with the exception of bank loans which are
subsequenlly measur&J al amortised cost using the effective Interest methlxl.
2.10 Pensions
The company operates a defined contribution pension ￿heme and the pension char9e represents
the amounts payable by the crxnpany to the fund in re* of the year.
2.11 Fund accounting
General funds are unrestricted funds which are available for use al the discrelion ol the Truslees in
furtherance of the general obj'ectives of the company and Ithich have not been designated for other
purposes.
Restricted funds are funds which are to be used in ￿COrdanCe with specific restrictions imposed by
donors or which have been raised by the company for particular purposes. The costs ol raising and
administering such funds are charged against the specilic lund. The aim and use of each reslricled
fund is sel out in the notes lo the financial statements.
Investment inctyne, gains and losses are allocated to the appropriate fund.
Page 16

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limited by guardnteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from grants and donatlons
Unrestricted
funds
2023
Totsl
funds
2023
Total
funds
2022
Covid-19 business grants
Apprenticeship grant
Donations
2.000
2,000
2.000
2,000
Income from charitable activities
Unrestricted Restricted
funds
funds
2023
2023
Total
fund5
2023
Cenlre activities & bookings
Activities Unlimited grant incc￿ne
Activities Unlimited income
Govemmenl gr8nls
Other grants
698,304
698,304
12,870
100
13,340
3,780
12,870
13,340
3,780
Total 2023
698,304
30.090
728,394
UnresliFcled
funds
2022
Restricled
funds
2022
Total
funds
2022
Centre activities & LyyJking5
Activities Unlimited grant income
Activities Unlimited income
558. 714
558, 714
19,500
7, 725
19,5th9
7, 725
Total 2022
558, 714
27,225
585, 939
Page 17

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from other trading activities
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
CcAmmercial income
20,753
20,753
31,419
In the previous year, all income from other trading activities *?s unrestricted.
Investment Income
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Bank interest
9,394
9,394
448
In the previous year, all inveslment income was unrestricted.
Page 18

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Anatysis of expenditure on charitable activities
Centre
activities
and
bookings
2023
Totsl
funds
2023
Tolal
funds
2022
Direct costs- Unrestricted
Direct costs- Restricted
602,474
34,094
602,474
34.094
462, 754
60,870
636.568
636.$68
523, 624
Analysis of direct costs
Total
funds
2023
Total
funds
2022
Staff costs
Depwialion
Small grant expenditure
Activity equipment and repairs
Catering
Rales
375.899
TT,722
320, 120
70,454
449
27,062
51,709
3,825
23,993
808
4,569
2,100
23,542
8,861
13,854
14,062
2,089
3,195
19291
936
2,785
10.982
36,054
2,707
15, 670
530
3,815
2,679
28,251
5,255
14, 258
11,897
1, 938
3,365
(8, 567)
1,237
2,530
Light and heat
Printing, postage and slalionery
Telephone
IT equipment and support
Repairs and maintenanc*
Cleaning
Staff devel¢)pmenl and training
Insurance
Subscriptions and licences
Professional fees
IProfill on disposal of equipment
Bank charges
Independent Examinerfs and accountancy fees
636,568
523,624
Page 19

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limit￿ by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure on Charitable activities Icontinuedl
Analysis of direct costs (continued}
Independent examiner's remuneration
2023
2022
Fees payable lo Ihe company's independent examiner for the independent
examination of the c(￿pan￿S annual accounls
2.785
2.530
Staff costs
2023
2022
Wages and sakiies
Social security costs
Other pension costs
342,527
16.791
16,581
291,459
13,571
15,090
375,899
320. 120
The average numbei of persons employed by the company during the year was as follows".
2023
No.
2022
No.
17
18
No employee receNed remuneration amounting lo mole th￿ £60.OCKI in either year.
Total employee benefrts of key management personnel were £67.610 {2022'. £62,583).
10. Trustee$. remuneration and expenses
During the year, no Trustee5 re￿IVed any iemuneralion or other benefits (2022- £NIL).
During the year ended 31 December 2023, no Tnjslee expenses have been incurred (2022- £NIL).
Pa9e 20

sx
t¥ tD fn
o) b)
(o h>

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
12. Debtors
2023
2022
Due within one year
Trade deblors
Other debtors
Prepayments and accrued income
Grants receivable
15,988
5,890
1.395
12, 794
2, 168
4,875
23,273
19,837
13. Current asset investments
2023
2022
Cash on deposit
225.000
14. Creditors: Amounts falling due within one year
2023
2022
Trade creditors
Other laxalion and social security
Other creditor5
Aecru81s and deferred inccffie
4.732
10,003
3,649
4,311
8,825
15,321
2,953
6, 790
22.695
33,889
Page 22

THE THORPE WOODLANt)S ADVENTURE CENTRE TRUST
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1 S. Statement of funds
Statement of funds - current year
Balanc9 at
31
December
2023
Balance at 1
January
2023
Transfers
inlout
Income Expenditure
Unrestricted funds
General Fund
1.025,670
738,396
1574.8841
2.500
1,191.682
Restricted funds
Activities Unlimi(ed
Property fund
Fixed asset fund
HAF Programme Fund
UK Youth Fund
Frank Jackson Found*ion
Fund
Pre-Sch(K)l Fund
12,970
112,9701
121,9691
112,1251
16,2401
14.6001
839,479
226,777
817,510
214,652
4,600
3,780
13,7801
12,500
1,066.256
30,090
{61.684}
12,5001 1,032,162
Total of funds
2,091.926
768.486
1636,5681
2,223.844
Page 23

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
15. Statement of funds Icontinuedl
The Activities Unlimited Fund is for the purpose of providing re￿dential bwks in conjunction with
Activities Unlimited for families and disabled children arvj young persons.
Tho Property Fund rgpresenl$ the use of the Centre by the Charity.
The Fixed Asset Fund represents the fixed assets vthich were transferred from Suffolk County Council
lo the Charity for future use.
The HAF Programme Fund is for the purposes of providiThJ free or subsidised holiday club places lor
children who the local aulhority believe could benefit.
The UK Youth Fund is for the purpose of providing oUtd￿r leaning residential experiences for
disadvantaged young people.
The Frank Jacks¢)n Foundation Fund is funded by the Suffolk Community Foundalion through the Frank
Jackson Foundation Fund and is for the purpose of providing outdoor education activity residential
pa¢kages aimed at engaging Care-experienced young people Iransilioning from care lo independent
living.
The Pr&Sch¢JoI Fund is for the purposes of creating a Forest PresLhool and Toddler Group. The
transfer repiesents the amount spent on fixed assets in the year_
Page 24

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA cornpany limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
15.
Statement of funds Icontinued}
Statement of funds - prior year
Balance al
31
December
2022
Balance at
l January
2022
IncL%ne Expenditure
Unrostrictod funds
General Fund
887, 728
6CQ.247
(462.305J
1,025,670
Restricted funds
Activities Unlimited
Property fund
Fixed asset fund
27,225
(27,225)
(21,969)
(12, 125)
861.448
238,902
839,479
226, 777
I. ICQ,350
27.225
(61,319)
1,066,256
Total of funds
1.988,078
62T,472
(523.624) 2,091, 926
16. Analysis of net a$$ets behyeen funds
Analysls of net assets between funds- current year
Unrestrlcted Restricted
funds
funds
2023
2023
Total
funds
2023
Tangible fixed assets
Current assets
Creditors due w(thin one year
804,569
409,808
122,6951
1.032,162
1.836,731
409,808
{22.6951
Total
1,191.682
1,U32,162
2,223.844
Page 25

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
16. Analysis of net assets between funds Icontinuedl
Analysis of net assets between funds - prior year
Unreslriclgd
funds
2022
Reslricled
funds
2022
Total
funds
2022
Tangible fixed assets
Current assets
Creditors due wilhin one year
602,531
457,028
(33.889J
1.066,256
1,668. 787
457,028
(33, 889?
Total
1.025.670
1,066,256
2,091, 926
17. Reconciliation of net movement in funds to net cash flow from operating activities
2023
2022
Net income for the year las per Statement of Financial Activiliesl
131.918
103,848
Adjustments for:
Depreciation charges
Profit on the sale of fixed assets
Decreasellincrease} in debtors
Increaselldecrease) in creditors
77,722
19291
13,4361
111,1941
70,455
(8, 567)
2,804
7,823
Net cash provided by operating activities
194,081
176, 363
18. Analysis of cash and cash equivalents
2023
2022
Cash in hand
386.535
212,191
Total Cash and ¢a$h equivalents
386.535
212,191
Page 26

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
19. Anaty$i$ of ¢hanges in net debt
At1
January
2023 Cash flows
At31
December
2023
Cash al bank and in h&)d
Cash deposits
212,191
225,000
174,344
1225,0001
386,53S
437,191
150,6561
386,535
20. Capital commitments
2023
2022
Contracted for but not provided in these financial statements
Acquislion of tangible lixed assets
123,155
21.
Pension commitments
The Trust participales in the Suffolk L￿al Government Pensions Scheme Ilhe 'LGPS'I for a number of
its staff. The pension charge for the year includes contribulions payable lo the scheme of £9,52612022.'
£8,851).
Employees whose contracts of ernploymenl wpre Iransfetred lo the trust from Suffolk County Council are
covered by the Local Govemmenl Pension Schewne, administered by Suffolk County Counul. The Local
Government Pension Scheme is a furHled defined benelrt pension scheme Under the lerms of the
contract transferring the employees to the trust the employees pen&on enlillements were deemed lo be
fully funded as al the dale of transfer and wll cemain so. provKJed that a predetermined percentage of
the employee's salary is paid lo the Lttal Govemmenl Pension Scheme on an ongoing basis. As a result
the scheme is accounted for as if it were a defined ￿nInbutIOn scheme and the c051 tsf parti¢ipaling in
the scheme is taken as equal to Ihe Contributions payable lo the scheme for the accounting period.
The charity also operates a sepa¥ate defined contribuiion pension scheme and employees who have
joined the company since 1 November 2014 have been able to join this scheme. Contributions are
charged to the Statement of Financial Activities in the year in byhich they are payable and amounted lo
£7,05512022.. £6.239}.
Page 27

THE THORPE WOODLANDS ADVENTURE CENTRE TRUST
IA company limited by guarantÈe}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
22.
Operating lease commitments
Al 31 December 2023 the company had commitments to make future minimum lease payments under
nOn-Can￿lIable operaling leases as follows..
2023
2022
later than 1 year
Later than 1 year and not later than 5 years
1,980
5,940
7,920
The following lease payments have been reccNJnised as an expense in the Statement of financial
aclivilies..
2023
2022
Operating lease rentals
660
23.
Relatod party transactions
During the year. purchases of £Nil 12022.. £1.104) were m&Je from RCR Servi￿$ IUKI Ltd. a company
of which R Rogers, a trustee, is a direclor and sharehokder.
During the year, purchases of £11.404 {2022." £10.7901 were rnade from Cannon Clarke Architects, a
company of which A Clarke, a trustee. is a direclor arKI shareholder.
During the year, purchases of £314 {2022." £Nill frw T Thorp, a trusiee.
P8ge 28