Reglstered Charlty No. 1167787 Reglstered Company No. 9829935 oarsome TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2025
OARSOME CHANCE Contents of the Financial Statements For the Period Ended 31 August 2025 Charity Information TrLFStees' Annual Report 2-11 Independent Auditorfs Report 12-15 Statement of Financial Activities 16 Balance Sheet 17 Statement of Cash Flows 18 Notes to the Financial Statements 19-29
OARSOME CHANCE Charity Informatlon For the Period Ended 31 August 2025 TRUSTEES: Mr N Young Ichairl Mr5 S Cullen lappointed 18 June 20251 Mr O Fisher lappointed 18 June 20251 Mrs V Flapper lappointed 18 lune 20251 Ms K Mai (appointed 18 lune 20251 Mr S Mathieson lappointed 10 july 20251 Mr S Mortimore (appointed 18 July 20241 Ms L Power Ms G Robertson Mrs T Bandopdhyay Ireslgned 17 February 20251 Mr N Budgen Iresigned 17 February 20251 Mr D de Kretser (resigned 6 October 20251 Mr R Ashman (resigned 22 Oclober 20241 Mrs K Ashman (resigned 22 October 20241 Mr G Whitehead (resigned 17 February 20251 CHIEF EXECUTIVE OFFICER: Mr P Napthine REGISTERED OFFICE: The Boathouse St Vincent College, Mill Lane, Gosport Hants, P012 4QA REGisfERED COMPANY NUMBER: 9829935 (England and Wales) REGISTERED CHARITY NUMBER: 1167787 BANKERS: HSBC Bank plc l Middle Street Yeovil Somer5et BA20 ILR INDEPENDENT AUDITOR: Scott Vevers Ltd Chartered Accountants and Registered Auditor5 65 East Street Bridport Dorset DT6 3LB Oarsorne Chan(p is a companyllmited by guarantee Re615tere& in England and Wales No9829935 Reglsteredchatity No IIS7787
OARSOME CHANCE Trustees, Annual Report For the Perloil Ended 31 August 2025 The Trustees, who are also directors of the charity for the purposes of the Companies Act, present their report together with the financial ststements of the Charitable Company for the 17-month period from l April 2024 to 31 August 2025. They are a150 prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The accounts have been prepared in actordance wlth the accounting policies set out in the notes to the accounts and comply with the Charity's Eoverning document, the Charities Act 2011 and Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. OBJECTIVES AND AcfiviTIES Objects The objetts of the Charity are as follows: To act as a resource for youn8 people up to the age of 25 living in the UK by providing advlce and assistance. and organising programmes of physical, educational and other activities as a means of- lal advancing in life and helping young people by developing theirskills, capacities and capabilities to enable them to participate in society a5 independent, mature and responsible individuals.. Ibl advancing educatlon.. Icl advancing employability skllls: Idl providing recreational and leisure time activity, specifically coastal and indoor rowing programmes. in the interest5 of social welfare for people living Ill the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons. In plannin8 the actlvities. the Trustees are committed to ensuring that Charity Commission guidance on public benefit is met through the process of regular revlew and scrutiny. ACHIEVEMENTS AND PERFORMANCE Executive Summary This reporting period marks the most signtficant transformation in Oarsome Chance's nine-year history. While ourfoundinB mission maInS unchanged to support young people who have fallen throu8h the net of mainstream education-we have strengthened how we deliver that mission through a clear, sustainable operatin8 model and uncompromising standards of practi. Guided by our Vlsion Strate8y12023-20261, we have clarified our purpose, refined our delivery model, and invested in infrastructure, governan, and people. As a result, Oarsome Chance is now in its stfonEest position to date.. Three thriving programme offers- Oarsome Foundations IPre-161, Oarsome Pathways IPost- 161, and Oarsome Community. Robust flnancial turnaround, movin8 from an £85k deficit to an anticipateil £136k Surplus. 00150rne Chance Is a tomp?nyllmitÈd by8uarantee Re815tered In EnÉlandJnd Wales No 9829935 Re8lster•d CharttyNo 1167787
OARSOME CHANCE Trustees, Annual Report For the Period Ended 31 August 2025 Growing reputatlon and demand, with capacity levels at 93% for Pre-16 and 100% for P05t-16 provision. Our impact Is clear, in the last year= 16 young peiwle achleved Level I qualifications in Summer 2025 lup from 11 in 20241. 64% of students transltioned back into school, and 86% progressed to Post-16 destlnalions. 75% of young people improved their wellbeing durlng sessions, as measured by our FSBA tool. These achlevements have been underpinned by stronggovernance, external endorsements, strategic partnerships, and a dedicated team committed to safeguarding and best practice. Looking ahead, we alm to increase capacity by 20%, deepen community engagement, and continue delivering life- changing opportunities for the young people who need us most. Overvlew Otsr focus 15, and has always been on creating a safe, inelusive environment where young people can learn praetbcal skills, build confidence. and develop the resilience needed foi a brighter future. Over this 17-morbth period, we have clarified who we are, the difference we can make, and how to maximise impact within our delivery model-while recognising areas where we are not best plad to meet need. As a result of this evolutlon and the tearn's Iledication, Oarsome chan is now in a strong position.. A clearly defined delivery model with three thriving programmes: Oar50me Foundations.. Pre-16 Alternatlve Education Provislon (API o Oar50me Pathways: Post-16 Speclal Post-16 Instltution ISPII Oarsome Communlty.. After-school and holiday activity pro8rammes A growlng reputation as a trusted provider, with increasing demand for commissioned places A robust financial turnaround, ending the year with a significant surplus. Organlsational Progre55 We have made significant stride5 in strengthening the tore foundations of a sustainable charitv: Governance.. New trustees have joined the board, bringlng 3 broader range of skills and expertise. We have also introduced dedicated sub-groups in key areas-such as Post-16 provision and Safeguarding to enhance responsiveness and ensure effective oversight. Leadership and Team Strurture= A clear. accountable organisational structure 15 now In place, supported by the implementation of a new People Strategy. Financial Stability.. Nearly 80% of our expenditure is now covered by commissioned and unrestricted income, significantly improving our financial resilience. OaFsiYneChance 15 a company Iirnlted by gu¥rantee Reglstered In En8land and Wale5 Nty 9829935 Roi151ered Charity No1167787
OARSOME CHANCE Trustees, Annual Report Forthe Period Ended 31 August 2025 Policies and Procedures.. We have adopleij a "best practice a5 Standard" approach, including investment in new Health & Safety and HR systems to strengthen compliance and operational efficienLry. Infrastrutture Development During thls period. we have continued to strengthen the infrastructure that undefpin5 our programmes. Providing safe, functional, and welcoming spaces Is essential to ensuring young people feel valued and supported. New Post-16 Site.. In April 2025. our Oarsome Pathways P05t-16 programrne relocated from its former slte-a converted ambulance station in Havant-to Fort Widley. The new site offers a suite of room5. a garage/work5hop, office space. and a kitthen. These enhanced facilities have enabled rapid development and expansion of our Post-16 offer. Improvements at The Boathouse. Gosport.. With generous support from ihe National Lottery IReaching Communities), Screwfix Foulldation. and The Syder Foundation, we have upgraded toilets and showers and converted a room into a dedicated well-being space. includin8 soundproofing, sensory lightin& and specialist fumiture and fittings. Safe8uarding The young people referred to Oarsome Chance often face complex an(1 layered challenges. Persistent disengagement from school is common, but rarely the full picture. At least 72% have experienced Adverse Childhood Experiences IACE51 a figure we believe is conservative. 92% are present with ADHD, autism, or both, and many live with additional vulnerabilities, including being in care. household substance misuse, and mental health difficultles. Over half are already involved in. or at high risk of, County Lines, Child Crlminal Exploitation ICCEI, or Child Sexual Exploitation ICSEI. At the heart of our mission is an uncompromising commitment to safe8uardinB. For us, safeguarding is not just a set of policies, it 15 a culture. It is the golden thread running through everything we do. from our Student Mentors to our Trustee Safeguarding Lead. We hold ourselves to the hlghest standards not only in health and safety or quality of learnin& but in ensuring every young person feels Safe, Seen, and supported. Programme Desl8n ond Curriculum Planning Thls period ha5 seen an intensive phase of programme development and implementation across all education provision5, underpinned by NCFE Occupational Studies awards. Oarsome Foundations {Pre-161'. A learner-led approach within a flexible curriculum framework designed to complement each Young person's current educational setting while preparing them for their next step5 into education, training, or employment. Oarsome Pathways IPost-161-. A holistic programme aimed at empowering young people who m3y experience challen8es such as low self-esteem, social isolation, and unfulfilled potential. The focus is on preparing them for adulthood by supporting progression into education, training employment, and independent living. OèrgornE Chance 55 a companylimited by8uarantg• R8lStered In England and Wale5 No 9829935 Reii5teredCh?rily No 1167787
OARSOME CHANCE Trustees. Annual Report For the Period Ended 31 August 2025 Significant investment has Bone into training and supporting our staff team to design NCFE units aligned with our core activitie5 and to guide students through completion and accreditation. As a result, we can now robustly evidence the difference we make across key areas. particularly when meeting due diligence standards for referral partners across: Wellbeing & Safeguarding Curriculum and LearnerJouFney Transformation Impart In addition, our 03rsome Community programme. funded by a National Lottery Reaching Communitie5 grant, launched in Summer 2024. Thls initiative delivers after-school and holldav activity sessions for targeted group5 of local young people idenlified as facing barrier5 to engagement. Drawing on enrichment activities developed within our educational programrnes, participants have enjoyed a diverse range of experiences, including paddle sports, sailing, mountain biking, and arts & crafts. Growth We have experien(1 steady and significant growth in programme delivery during this reporting period- Oarsome Foundations IPre-161'. Student numbers Increased from 22 in Summer 2024 to 35 in Summer 2025, wwth capacity rising from 80% to 93%. Over the 17-month period, the programme delivered more than 6,5W participant sessions to 66 young people. Oarsome Pathways IPost-161: student number5 doubled from 5 in Summer 2024 to 10 in Summer 2025. reachinE I(K)% capacity lup from 50%1. During the same period, the programme (lelivered over 4,500 participant sessions to 11 young people. This increase in commissioning has strengthened our financial position- Commissioning income now covers 70% of expenditure lup from 60% last yearl. Unrestrirted income covers 79% of expendlture lup from 75%). There was a surplu5 of £126k this 17-month period, marking a remarkable turnaround from the £85k deficit in the previous year. Looking ahead, our strong operating model posltlons us to increase capacity by approximately 20% across both education provisions in the next academic year. Our Oarsome Community programme has already engaged over 100 young people through after- school and holiday artivities a number we expect to grow significantly in the year ahead. 03rsorne Chante Is a company limited by guarJntEe Re8lstered In En818nd and Wale5 No9819J3S Ro8istered Charlly Nts 1167787
OARSOME CHANCE Trustees. Annual Report For the Period Ended 31 August 2025 Impact The significant investment in our infrastructure and delivery model is translating into measurable, positive outcomes for the youn8 people we support.. Achievement- In Summer 2025, 16 younE people achieved Level I qualifications, including three who earned three qualifications each often their first formal achievement. Thls marks an increase from 11 in Summer2024. and we expect continued growth a5 our NCFE curriculum develops. Progression.. 64% of students transitioned back into school (part- or full-timel, and 86% of those leaving Pre-16 provision progressed to Post-16 destinations. While some impacts are harder to quantify. they are no less transformational. For example, for a student who has rarely left home in the past year, simply attending a session represents a major milestone. To better understand wellbeing outcomes, we developed our own evaluation tool based on our Vision to help young people Feel Safe, Belong, and Achieve IFSBAI, rooted in Maslow's Hierarchy of Need5. Staff record each young person's FSBA status at the start and end of every session, enabling us to track wellbeing trends over time. Over the last year, 75% of young people ended sessions at a higher FSBA level than when they arrived, demonstrating tangible improvements in confidence and emotional resilience. External S¢rutiny and Endorsement The extensive work undertaken to ovefhaul our curriculum, strengthen policies and procedures, and implement new systems con5iStently has resulted in Oarsome Chance achieving full compllance and endorsement across all external inspections and regulatory frameworks.. Approved Provider Status= Oorsome Foundotions is now an approved providerwithin the Hampshire County Council. Portsmouth City Council, and Southampton City Council SEN frameworks. DfE Approval: Oursome Pothwoys has been formally approved as a Special Post-16 Institution ISPII by the Department for Education, under Section 41. Commitment to Best Practice: We operate under Hampshire Outdoors Evolve scheme, hold an Adventurous Activities Licensing Authority IAALAI license, and maintain affiliation with the Royal Yachting Association IRYAI the National Governing Body for recreational. competitive, and professional boating. Sector Membership.. We are proud members of NATSPEQ the national association for specialist providers supporting students with SEND. Oarsome Is ¥ companyllmitÈd by8uarantee Re8lsteied in Enwand and Wale5 No 9829935 Rryi5teredCharityNo 1167787
OARSOME CHANCE Trustees, Annual Report For the Period Ended 31 August 2025 Quality Assurance Re¢ognltlon'. In passlng NCFE'S latest Quality Assurance inspection, the report commended our commitment.. "It is evident thatthis centre reolly works hurd to get the bestfmm its leorners t7nd should be very proud of ull their efforts und achievements." Partnerships Oarsome Chance has continlsed to cultivate strong, trusted relatlonship5 Wlth a range of agencies and stakeholder5, ensurlng joined-up support for the young people we seNe. We have also forged meaninBful partnerships with local organisatlon5 across both the voluntary and commercial sectors. For example.. Motiv8.. Collaborating to deliver after-school sesslons foryourbg people in the local communlty. Silverlake Automotlve Recycling- Developing a dedicated work experience pathway, providing practical opportunitles for young people to gain skills and insight into future employment. These partnerships not only enhance the breadth of opportunities available to our students but also strengthen our role as a trusted and collaborative provider within the local ecosystem. People Our people are at the heart of everything we (lo, and this period has seen slgnificant progress in bullding a strong, skllled, and resilient team: Team Structure.. We have established an effective organi5ational structure with clear lines of management and accountability. People Strategy.. A new People Strategy ha5 been implemented, alongside 3 complete overhaul of our performance management process, ensuring clarity, fairness, and continuous development. Staff Stability and Skllls.. These changes have resulted in greater staff stability and the ongoing development of team skills. Re¢rultment: We have focused on recruiting individua15 Wlth the right qualities, values, and understanding of the unique challenges of our work. Training and Development.. Signrficant investment has been made in staff training to strengthen expertise and confidence across all roles. Wellbelng and Reflective Practlce.. Staff wellbeing remains a priority, SUPPOrted by the introduction of eernallY led reflective practice sessions to promote resilience and professional growth. Leadershlp.. Our Leadership Team has a clear understanding of their roles and the skills required to deliver effectively, ensuring strong Eovernance and operational excellence. Oarsome Chance isa company llrnited by &u•rantee Resistered in En8land and Wales No 9829935 RegI5tered CharltyNo 1167787
OARSOME CHANCE Trustees. Annual Report For the Period Ended 31 August 2025 Future Priorltles BulldirbE on the progress achieved during this reporting period, Oarsome Chance is focused on consolidatin8 our success and driving further impaLt in the year ahead. Our key prlorltie5 include.. Expanding Capacity.. Increase provision by approximately 20% acr055 both Pre-16 and Post-16 PIO8rammes to meet growing demand. Curriculum Development= Continue to enhance our NCFE-based curriculum, introducing new units and pathways that align wlth young people's aspirations and local employment opportunities. Community Enga8ement- Scale up the Oarsome Community pro8ramme, reaching more young people through after-school and holiday activities. and Stngthening links with local organlsations. Partnership Growth.. Deepen tollaboratlons with voluntary and commercial partner5 to create additional work experience opportunities and enrichment activities. stsff Development and Wellbeing-. Maintain investment in training and reflective practice. ensuring our team remains skilled. resilient, and supported. Impact Measurement- Further refine our FSBA wellbeing tool and explore additional methods to capture and evidence the transformational outcomes of our work. Financial Sustainability.. Continue to diversify income streams and strengthen reserves to secure long-term stsbility. FINANCIAL REVIEW Financial position As detailed in the attached annual accounts, the net surplus of funds for the 17-month period was £126.84912024 year.. deficit of funds was £85.5761. This comprises of a surplus of £108,311 on unrestricted funds before transfers 12024- deficit of £68,777) and surplus of restrirted funds before transfers of £18,53812024: deficit of £16.7991. Our reserves stand at £300,883 In total, including £74,744 restricted funds. Reserves P¢licv The Trustee5 have ag¥eed that the charity should aim to hold a mlnlmum level of reserves equivalent to three months of core operatln8 expenditure, excluding restricted or project-specific funds. Based on forecast core operating costs of approximately £275.(MM) (three morrth5 of expenditure), this represents the target minimum resetve, subject to annual review and confirmation against the approved budget and risk assessment. This is considered a mlnlmum level of reseeS and may be higher if deemed appropriate by the trustees. Oèrsome Cnce a companylimited tyguarantee ReÉLstered in En8land and Wales No 9829935 Ae{151ered CharltyNo 1167787
OARSOME CHANCE Trustees, Annual Report For the Perlod Ended 31 August 2025 This level of SerVeS 15 consldereij appropriate to.. Allow the charity to contlnue operating while responding to unexpected financial challenges; Enable the trustees to take informed decisions Wlthout undue pressure- Ensure the charity could meet its obliBations and deliver an orderly wind-¢Jown or closure, should that become necessary in the worst-ca5e scenario. At the end of the period, reserves comprise: Restricted funds £74.744 Funds invested in fixed assets £61,066 Free Reserves £165,073 Totsl £300,883 Reserves may only be used with the approval of the Board of Trustees. Appropriate circumstan5 for use may include.. Unplanned or temporary shortfalls in income,. Exceptional or emergency expenditure- Cash-flow difficultie5: Costs associated with restrutturlng, scaling back, or closing the charity's operations in an orderly manner. Where reserves are used, the trustees will consider and agree a plan to restore reserves to the target level within a reasonable tlmeframe, Whe practicable. The level of reserves will be: MOnitod regularly as part of the charity's financial reporting: Formally reviewed by ihe trustees at least annually as part of the budget-setting and risk- management process.. Reported transparently In the Trustees, Annual Report. including any reasons for holding reserves above or below the target level. The trustees recognise that the appropriate level of reserves may change over time depending on the CharItS activities, risk profile, funding mix, and external envlronment. sTRuuftE. GOVERNANCE AND MANAGEMENT The company is a company limited by guarantee and was formed on 19 October 2015. It is governed by its Memorandum and Articles of Assoclation. All d1ClOrS of the Company are also Trustees of the charity and there are no other Trustees. The Trustee5 who setved during the period are listed on Page l. Trustees are recruited for various skills they bring to the organisation. New Trustees are issued with an induction pack, and all are invited to visit projects during the year to gain first-hand knowledge of the value of the seNice we provide. The Board of Trustee5 meets 4 times a year. Day-to-day management Is delegated to the management team. led by the CEO. Oarsorne Chance 158 company Ilrrfted by guarantee ReÉiSter&4 In Erngl3d aTrd Wales No 982Y93S Re8lStered CharltyNo 1167787
OARSOME CHANCE Trustees. Annual Report For the Period Ended 31 August 2025 STATEMENT OF TRUSTEES. RESPONSIBIUTIES The Trustees (who a also directors of Oarsome Chance for the purpose of company lawl are responsible for preparinE the Trustee5' Annual Report and the flnantial Statements in accordance with applicable law and United Kin8dom Accountin8 Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unles5 they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resource5 and application of resources, including the income and èxpenditure. of the charitable company for that period. In preparing these financial statements, the trustees are qUired to.. select suitable accounting policies and then apply them consistently,. obsetwe the methods and principles in the Charities SORP 2019 IFRS 1021- make judgements and estimates that are reasonable and prudent- state whether applicable UKAccounting Standards have been followed, subject to any material departures dlsclosed and explained in the financial statements,. prepare the financlal statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable tompany and hente for taking reasonable steps for the prevention and detection of fraud and other irregularitie5. In so far as the trustees are aware: there is no relevanl audlt Infomiation of whlch the charitable companrfs auditor 15 unaware,. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the Trustees are aware. there is no relevant audit information of which the charitable company's auditors are unaware, and each Trustee has taken all the steps that he or she ought to have taken a5 a director in order to make himself or herself aware of any relevanl audit information and to establish that the Charitable company's auditors are aware ol that information. AUDITORS The auditors, Scott Vevers Ltd, have 5ignlfied their willingness to remain in office and a resolution for their re-appolntment will be proposed at the forthcoming annual general meeting. Oarsorne thante 1$ a tompanylimlted by iuarantee Reiist?red In En8land and Wale5 No 9829935 RWSteredCharltyNo 1167787 io
OARSOME CHANCE Trustees, Annual Report For the Period Ended 31 August 2025 This report has been prepared In accordance with the small companies, regime under the Companies Acl 2006. ON BEHALF OF THE BOARD: Signed: MrN Young Chair of Trustees Date-. oarsomè Chance Is a can¥ limlted by{uar3ntee Re&lstered In England and Wale5 ry0 9829935 Rellsiered Chartty NO 1167787 li
Independent Auditorfs Report to the Trustees of Oarsome Chance Opinion We have audited the financial statements of Oarsome Chance (the 'chafltable company'l for the 17-month period from l April 2024 to 31 August 2025 whith comprise of the Statement of Financial Activities lincorporating an Income and Expenditure Atcountl, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including SiBnificant accounting polices as set out on pages 16 to 29. The financial reporting framework that has been applied in their preparation Is applicable law and United Kingdom Accounting 51andards, including Financial Reporting Standard 102 The Finonciol Reporting Stundordopplicable in the iIKand Republicof Ireland Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. glve a true and fair view of the state of the charitable compan¢s affairs as at 31 August 2025, and of its incoming resources and application of resources. including its income and expenditure, for the period then ended,. have been properly prepared in accordance with United Klrbgdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Charities Art 2011. Basls lor oplnion We condutted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtaSned is sufficient and appropriate to provide a basis for our opinion. Other matters The financial statements for the year ended 31 March 2024 were not audited. Accordingly, we do not express an opinion on the comparative figures included in these financial Statements. Con¢luslons relating to going concern In auditing the financial statements. we have concluded that the trustees, use of the going conrn basi5 of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we hève not identffied any material uncertainties relating to events or conditlons that, individually or collertively, may cast signifieant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Oarsorne Chance isa comp3nylimited by8uaranteeRe8iSt*rÉd In Er%landand Wales No 982993S Re8i5tEred ChJrityNo11S7787 12
Independent Audltorf5 Report to the Trustees of Oar50me Chance Other Information The other informatlon comprises the information included In the tru5tees' annual report, otherthan the financial statements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of a55urance conclusion thereon. Our responsibility 15 to re8d the other infom)ation and, in doing so, consider whether the other information is materially intonsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material mi55tatements, we are required to determine whether this glves rise to a material misstatement in the financial Statements themselves. If, based on the work we have performed. we conclude that there Is a material misstatement of this other information, we are required to report that fact. We have nothlng to report in this regard. Matters on whlch we are required to report by ex¢eptlon We have nothing to report in respect of the following matters in relation to which the Charlties IAccounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the information given in the tru5tees' report is inconslstent in any material respert wilh the financial statements.. or sufficient accounting records have not been kept.. or the financial statements are not in agreement with the accounting records: or we have not ceiVed all the information and explanatlons we require for our audit. Responsibilities of Trustees As explained more fully in the trustees, responsibillties statement set out on page 10, the trustees Iwho are also the dirertors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financlal statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for asse55ing the charitable company's ability to continue as a going concern, distlosing, as applicable, matters related to going concern and using the going concern basis of accountlng unless the trustee5 either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditorfs responslbllltles for the audh of the Ilnancial statements We have been appointed a5 auditor under section 144 of the Charlties Art 2011 and report in accordance with the Act and relevant regulation5 made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financlal statements as a whole are free from material misstatement. whether due lo fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of a55urance but it is not a guarantee that an audlt conducted in accordance with ISAS IUKI will alway5 detert a material misstatement when it exists. Misstatements can arlse from fraud or error and are considered Qarsome Chwce is a company limtted by guaraniee Re8lstered in Èn8land and Wales No981993S Reiisteredcharity No 1167787 13
Independent Auditorfs Report to the Trustees ot Oar50me Chance material if, individually or in the aggregate, they could reasonably be expected to Influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instantes of non-compliance wwth laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misStatement5 in respect of irregularities, including fraud. The extent to which our procedures are capable of deterting Irregularities. including fraud, is detailed below.. Our approach to identifylng and assessing the risks of material mi55tatement In respect of irregularitie5, including fraud and non-compliance with laws and regulations, was a5 follows.. the engagement partner ensured that the engagement team collectively had the appropriate competence. capabilities and skills to identify or recognise non-compliance with applicable law5 and regulations.. we identified the laws and regL*lations applicable to the charity through discussion5 Wlth Trustees and other management, and from our commercial knowledge and experience of the charity sector- we assessed the extent of cornpliance with the laws and regulatlons identified above through making enquirie5 of management.. and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the charity's financlal statements to material misstatement. including obtaining an undetstanding of how fraud miBht occur, bv: making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud,. and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bia5 and override of controls, we: performed analytlcal procedures to identify any unusual or unexpetted relationships: tested journal entries to identify unusual transactions,. assessed whether judgements and assumptions made in determinirkg the accounting estimates were indicative of potential bias- and investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with law5 and regulations, we designed procedures which included, but were not limited to.. agreeing financial 5tstement disclosures to underlying supportin8 Llocumentatlon reading the minute5 of meetings of those charged with Eovernance,. enquiring of management as to actual and potential litigation and claims. Because of the inherent Ilmitations of an audit, there is a riskthat we will not detect all Irregularities, including those leading to a material misstatement in the financial statements or non-complianee with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The Tisk is also greater regarding irre8ularitle5 occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, coIIu5ion, omission or misrepresentation. 031some Chanre 15 wcompany litniteLI byBuafantee Re8iStered ID Enzland Walts NO 9829935 RÈgisttred ChJrlt¥No 1167787 14
Independent Audltorfs Report to the Trustees of Oafsome Chance A further description of our responsibilities is available on the FRC'5 website at: https'.//www.frc.org.uVlibrarylstandards-codes-policylaudit-as5urance-and-ethlcs/auditors- responsibilltles-for-the-audit. This description forms part of our auditorfs report. Use of our report Thls report 15 made solely to the charitable company's trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulatlons 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to State to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company ènd the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Scott Vevers Ltd Chartered Accountants and Registered Auditors 65 East Street 8ridport Dorset DT6 3LB Date: Scott Vever5 Ltd is eligible for appointmeni as auditor of the tharlty by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. Oar50rne Chance Is acompanylimited by8uarantee Re8lsterÈd In England and Wales No9829935 Reglsteredcharlty Na 1167787 15
OARSOME CHANCE Statement of Financial Activitie5 Ilncorporating an Income and Expenditure Account) for the Period Ended 31 August 2025 Perlod ended 31 August 2025 Total funds Year ended 31 March 2024 Total funds Restricted Unrestrirted fund5 funds Notes INCOME In¢ome and endowments from: Donations and legacies 383,549 148.418 531,967 204,693 Charitable artivities.. Training and educational 951,648 951,648 477,885 Other trading activities: Sale of goods and services by students 11,221 11,221 25,098 Investment income (Bank interest) 4,500 4,500 367 Total Incoming resources 383,549 1,115,787 1,499,336 708,043 EXPENDITURE ON: Raising funds 44,956 44.956 55,216 Charitable activities 365,011 962.520 1,327,531 738,403 Total empenditure 365,011 1,007,476 1,372,487 793,619 Net incomellexpenditurel before transfers 18,538 108,311 126,849 185,5761 Transfers between funds 132 11321 Net Movement In Funds for the vear 18,670 108,179 126,849 185,5761 Total Funds: Brought Forward at l April 2024 56,074 117,960 174,034 259,610 Carried Foard at 31 Au8U5t 2025 74,744 226,139 300,883 174,034 All incoming resources and resources expended derive from continuing activities. The notes on pages 19 to 29 form an integral part of these financial statement5. 04r5DmE Chance is acompany Ilmited by8uarantee RÈ8lstered In England and w•sN0 9829935 Reg15teredCharfty No 1167787 16
OARSOME CHANCE Balance Sheet at 31 August 2025 Period ended 31 August 2025 Year ended 31 March 2024 Noies Fixed A55ets Tangible assets Investments io li 60,966 loo 61,066 58.142 100 58.242 Current assets Debtors Cash at bank and In hand 12 80.049 423,259 503,308 102,057 262.825 364,882 Credltors: Amounts fallin8 due within one year 13 1263,4911 1249,0901 Net current assets 239,817 115,792 Total assets less current Ilabilitles 300,883 174,034 The funds ofthe charity: Restricted fund5 14 74,744 56,074 Unrestricted funds 226,139 117.960 Totsl charlty funds 3(K).883 174,034 These financial statements have been prepad in accordan with the provislons appllcable to companies subject to the small cornpanies regime under the Companies Art 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 in respect of accovnting records and preparation of accounts. Whilst the company is exempt frorn audit under Section 477 of the Companies Att 2006 relating to small companies and the member5 have not required an audit under section 476 of the Act. the company is subject to audit under the Charities Act 2011. The financial statements were appmved by the Board of Trustees on alf b and signed on its Mr N Young- Mr S Mortimore- Treasurer The note5 on pages 19 to 29 form an integral part of these financial statements. Oa150meCh?rKpi5 a wmpanylirnited ty8uaraTrteeAegiSteied kn En8laThgand ND9829935 R¥irtÈrÈd Charity No 1167787 17
OARSOME CHANCE Statement of Cash Flows As at 31 Au8USt 2025 Period ended 31August 2025 Year ended 31 March 2024 Notes Net c4sh flow from operating a¢tlvities 19 187,039 31,583 Cash flow trom Investln8 a¢tSvities Payments to acquire tangible fixed assets Receipts from sales gf tangible fixed assets Interest received 131,3051 200 4,500 122,6211 34.502 367 Net Cash flow from Investlng actlvltles 126,6051 12,248 Net increase I Idecreasel in cash and cash equivalents 160,434 43,831 Cash and cash equlvalents at l Aprfl 2024 262,825 218,994 Cash and cash equivalents at 31 August 2025 423,259 262,825 The notes on pages 19 to 29 form an integral part of these financlal ststements. Oar50rne Chanre 15 a (ompanylimited by8uar4nt¢e R¢8istered in E$lartd andwalos No9829935 Re8tstered Charty No 1167787 18
OARSOME CHANCE Notes to the Financlal Statements For The Period Ended 31 August 2025 l General information Oarsome Chance 15 a charitable company, limited by guarantee, incorporated In England and Wales under the Companies Act 2006 and Charities Act 2011. The addres5 of the registered office is provided in charity information on page l. Details of the chariws operatlons are provided in the Report of the Trustees. 2 Accounting pollcles The principal actounting policie5 adopted, judgement5 and key 50urce5 of estimation uncertainty in the preparation of the f1nancial statement5 are as follows: statement of compliance and basls of preparntlon The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared under the historical c05t convention and incluiles the result5 of the charity's operations which are described in the Trustees, Report and all of which are continuing. The flnancial statements are prepared under the historical cost convention and in accordance with the Charities SORP IFRS 1021, the Financial Reporting Standard applicable in the UK and Republ1¢ of Ireland IFRS 1021 and the Companies Act 2006. The Trustees resolved to change the charity's year end from 31 March to 31 August in order to align the financial reporting period with the academic year. Accordingly, the current financial statements cover the 17- month period ended 31 August 2026. whereas the comparative figures cover the 12-month period ended 31 March 2025. Consequently. the comparative figures are not directly comparable. Accounting convention The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exlst. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial Statements. The budgeted income and expenditure is sufficient with the level of reserve5 for the charity to be able to contlnue as a going concern. Income All incoming resources are included on the Statement of Financial Activitie5 when the charity is legally entStled to the income and the amount can be quantified with reasonable accuracy. Income from @rants 15 accounted for on an accrua15 basis. All voluntary income and donations are accounted for on receipt by the charity. The income from fund raislng events 15 shown gross, with the a550ciated costs included in fundraising costs. Donated assets and services are included at open market value. Classification of expenditure Expenditure is included when a 1SabS1ity is incurred. All expenditure ha5 been classified a5 C05t5 of raising funds, charltable activities Iwhich includes operational programmes, support costs and governance costs) and other costs. Operational Programme Expenditure relates directly to carrying out the objects of the charfty. support costs are expenditure incurred directly in supporting charitable activities and projects. Cost of ralslng funds include the costs of all fund raising events. Governance costs are those relating to the charity'5 compliance with constitutional and statutory requirement5. Tangible lixed assets TangTble fixed assets are stated at cost less depreciation. Assets costing less than £1,000 are written off in the year of purchase. Depreciation 15 provliled at the following annual rates in order to write off each asset over its estimated useful life.. Leasehold improvements Fixtures, fittings and equipment Blkes, Boats and Motor vehicles over period of lease 16.67% to 50% straight line 0% to 25% straight line Oar5Drne chan is a cornpanyllmlted by8yarantteReRlstered in En8lJnd WalÈs No 9829935 Re8lstErEd Charty No 1167787 19
OARSOME CHANCE Notes to the Financial Statements For The Period Ended 31 August 2025 2 Accounting polides Icontinuedl Investments Investments are stated at market value. Realised and unreali5ed gains and losses on investments are dealt with in the Statement of Financial Activities. Investment income is credited to income on an accruals basis, using dates of payment for dividends, and daily accrual for interest. Funds All the funds have been analysed between restricted and unrestricteil funds. Restricted funds are those where the donor has Imposed restrlctlon5 on how the fund may be used, but which do not prevent the fund being spent. Unrestricted funds are those which are not subject to any special restrictions and they can be used as the trustees decide. Designated funds are allocated out of unrestrlcted funds by the trustees for specific purposes. The use of Such funds is at the trustees, discretion. Leasing commltment5 Rentals paid under operatin8 leases are charged to the Statement of Financial Activltie5 as incurred. Penslons The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme. Taxation The Charity is 8n exempt Charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the test5 set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of charitable company for UK corporation tax purposes. Financial Instruments Clossificotion Financlal assets and financial liabilities are recognised when the charity becomes a paity to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified acco(ding to the substante of the contractual arrangement entered into. An equity in5trurnent is any contract that evidences a ¥esidual interest in the assets of the charity after deducting all of its liabilities. Recognition ond measurement All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or1055, which are initially measured at fair value (which is normally the transaction prlce excluding transactlon costs). unless the arrangement Constitutes a financing transactions. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of Interest for similar debt Instruments. Financial assets and liabilities are only offset in the statement of financial p051tion when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basi5, or to realise the asset and settle the liability simultaneously. Financial assets are derecogni5ed when and only when al the contractual rights to the cash flows from the financial asset expire or are settled, bl the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or cl the charity. despite having retained some. but not all, sSgniflcant risk5 and rewards of ownership. has transferred control of the asset to another party. FSnancial liabilities are derecognised only when the obligation specified in the contract is discharged. cancelled or expires. OatsomÈ Chancelsa Company limited by8uarèntee Rrfbiered in En8land and Wa5 No 9829935 Re81steredCharity No 1167787 20
OARSOME CHANCE Note5 to the Flnancial Statements For The Period Ended 31 August 2025 3 Donations and legacies Re5trlcted funds Unrestricted lunds Total funds Perlod Period Perlod ended Year ended ended Year ended ended Year ended 31.08.2025 31.03.2024 31.08.Z025 31.03.2024 31.08.2025 31.03.2024 Donation5 and gifts Gift Aid Donations in kind Grants received 79,643 3,775 10.789 395 480 76.233 87,897 79,643 3,775 10,789 395 480 193,029 204,693 383.549 383.549 116,796 116,796 65.000 148,418 448.549 531,967 4 Tralnlng and educational activitie5 Restricted funds UnrestrScted funds Total funds Period Perlod Period ended Year ended ended Year ended ended Year ended 31.08.2025 31.03.2024 31.08.2025 31.03.2024 31.08.2025 31.03.2024 Fees charged Event and activity income 947,682 3.966 951,648 476.605 1,280 477,885 947,682 3,966 951,648 476,605 1.280 477.885 S Raising funds RestrSrted funds Unrestricted funds Total funds Perlod Period Perlod ended Year ended ended Year ended ended Year ended 31.08.2025 31.03.2024 31.08.2025 31.03.20Z4 31.08.2025 31.03.2024 Fundraising sal8ries and consultancy Advertising and marketlng 43.953 53.906 43,953 53,906 1,003 44,956 1,310 55,216 1,003 44,956 1,310 55,216 6 Charltable activitie5 Restrlcted funds Unrestrirted fund5 Total funds Period Period Period ended Year ended ended Year ended ended Year ended 31.08.2025 31.03.2024 31.08.2025 31.03.2024 31.08.2025 31.03.2024 Staff Costs Direct costs Support costs Governance costs 277.904 69.731 17.376 108,440 23,662 1,493 691,404 148,245 84,906 37.965 962,520 412.710 969,308 116.501 217,976 48,860 102,282 26.737 37,965 604.808 1,327.531 521,150 140.163 50,353 26.737 738,403 365.011 133,595 Darsome CharKe 15 a eompanvllmited by8uarantee Reglstered In Er6land and WalÉs No 9829935 Re8i5tered Charlty No 1167787 21
OARSOME CHANCE Notes to the Financial Statements For The Period Ended 31 August 2025 6 Charitable actlvitie5 Icontinuedl Restricted fund5 Unrestricted funds Total funds Period Period Period ended Year ended ended Year ended ended Year ended 31.08.2025 31.03.2024 31.08.2025 31.03.2024 31.08.2025 31.03.2024 Staff costs: Direct labour Support staff Training Other staff costs 270,022 100.040 2,826 4,962 612 482,168 199,556 6,657 3,023 691,404 256,196 146,661 8,153 1,700 412,710 752.190 199.556 14,539 3,023 969.308 356.236 149,487 13,115 2,312 521.150 7,882 277,904 108,440 Direct ¢ost5: Acttvity costs Consultancy fees Property costs Depreciation (Profit) I loss on disposal of tangible assets 50,296 7,984 11,451 14,909 1.250 6.902 601 40,918 14,062 64,984 25.189 45.180 15,762 39,923 17,908 91,214 22.046 76,435 25,189 60,089 17,012 46,825 18,509 3.092 12,2721 3,092 12,2721 69,731 23,662 148,245 116,501 217,976 140.163 Support costs: Insurance IT expenses Motor and travel experbses Office expen5e5 12,389 7.978 42,517 22,022 84,906 7,607 11,854 15.058 14.341 48,860 12,389 12,191 45,598 32,104 102.282 7,607 11,854 16,224 14,668 50,353 4,213 3,081 10,082 17,376 1,166 327 1,493 Governance costs., Legal fees Audit and accountancy fees 2,365 24,372 26,737 2,365 24,372 26,737 37.965 37,965 37,965 37,965 7 Net Incomel lexpenditurel for the year This is stated after ch3rging- Period ended Year ended 31.08.2025 31.03.2024 Depreciation of tangible fiKed assets (Profit) / loss on disposal of tangible assets Auditor's remuneratlon 25,189 3,092 18,509 12,2721 audit services other services Independent examiner's remuneratio 6,390 4.260 0orsomèchance1s acompany Umited byyuarantee Re1&ted in ED8laDd and Waks No 9829935 Re8i5rered Charity No 1167787 22
OARSOME CHANCE Notes to the Financial Statements For The Perlod Ended 31 August 2025 8 Staff Costs No remuneration or expense5 were paid to trustees durin8 the year. The costs of the remaining staff were: Period ended Year ended 31.08.2025 31.03.2024 Wages and salaries Contract staff Social security C05t5 Pension costs 882,137 16,401 75,112 18.569 992,219 479.329 27.058 40,302 9,850 556,539 One employee had earnings more than £60,00012024- one). The number of staff employed by the charity during the year wa5 a5 follows.. Perlod ended Year ended 31.08.2025 31.03.2024 No. No. Average full time equivalent number of staff employed The average number of staff employed Iheadcountl 9 Penslon commitments The charity operates a defined contribution scheme for certaSn employees. The assets of the scheme are administered by trustees in a fund independent from those of the charity. The pension c05t charge for the year represent5 contributions payable by the charity to the scheme and amounted to £18,569 12024.. £9,850). 10 Tanglble fixed assets FIMtures Leasehold flttings & Improvements equipment Motor vehlcles Boats Total Cost or valuatlon As at l April 2024 Additions Disposals As at 31 August 2025 12,632 6,030 14,155 58,846 80,130 17.150 13,9501 93,330 157,638 31,305 13,9501 184,993 12.632 20,185 58,846 Depreclatlon As at l April 2024 Charge for the year Eliminated on disposals As at 31 August 2025 5,651 1,941 6,030 2,676 48,779 3,400 39,036 17,172 16581 55,550 99.496 25,189 16581 124,027 7,592 8,706 52,179 Net book value As at 31 August 2025 5,040 11,479 6.667 37,780 60,966 As at 31 March 2024 6,981 10,067 41,094 58,142 Oa150me Ch4nte Is a company lirnittd by guarantee ReglstwÈd in England wa50 9829935 Re8i5tÈred Charlty No 1167787 23
OARSOME CHANCE Notes to the Financial Statements For The Perlod Ended 31 August 2025 11 Investments Perlod ended Year ended 31.08.2025 31.03.2024 Oarsome Chance (Trading) Ltd loo loo Oarsome Chance ITradingl Ltd was formed to carry out trading activities for the charity, which holds 100% of the issued Share capital. The company remained dormant throughout the period. The company is in the proces5 of being dissolved. 12 Debtors Period ended Year ended 31.08.2025 31.03.2024 Operational debtors Other debtors and prepayments 62,497 17,552 80,049 87.948 14.109 102,057 13 Credltors.. Amounts falling due wtthin one year Period ended Year ended 31.118.2025 31.03.2024 Operational creditors Social security and other taxes Other creditors and accruals 9,041 15,458 238,992 263,491 22,435 12,177 214,478 249,090 Included within other creditors and accrua15 is commissioning income invoiced in advance for the Autumn term of £212,910 (Summer term 2024.. £203.9961. 14 Operatin8 lease commitments At 31 August 2025 the Charity has future minimum lease commitments as follows.. Property Other Total Not later than I year Later than l year and not later than 5 years Later than 5 years 32,000 102,625 107,500 242,125 1,123 2,808 33.123 105,433 107,500 246,056 3.931 Oarsome Chan¢e 15 acompany limited bv Euarantee Re$ered in England and Wa5 No 9829935 RÉ8iStered Charlty No 1167787 24
OARSOME CHANCE Notes to the Financial Statement5 For The Perlod Ended 31 August Z025 15 Funds Incomin8 resources Resource5 expended Net movement Transfe15 31.08.2025 01.04.24 Restrltted funds Alpkit Arnold Clark Big Give 24 Bernard Sunley (Big Give) CABWI Awardlng Bodv FatFace Foundation Get Active, Get Involved Gosport Borough Council Community Fund Hampshire Active Health Programme Hedley Foundation Henley Royal Regatta Charitable Trust HIWCF InclLJding Communities Hornpipe Trust Joan Wilkinson MacRobert Trust National Lottery Community Fund= Award5 for All National Lottery Communlty Fund.. Reaching Communities OPCC 5CF 23124 The Openwork Foundation Percy Bilton Screwfix Foundation 5EHCO Fund 5t James Place CT St James Place CT- Flrst Aid Swire Trust Syder Wellbeing Trinity House Main Grant 220 1,000 3,951 12201 16411 359 3,951 11.0001 io 14,1001 3,869 359 3.951 1,000 236 4,148 11,0001 134,9901 14,1001 15701 35,000 12461 48 4,439 3,869 2,750 12,7501 12,7501 19,282 22,130 141,4121 119,2821 1,083 11,4611 11,4611 378 9.974 10,000 118,8321 18,8321 1,142 153 11531 11531 3,600 1,950 3,345 12681 3,332 1,950 3,332 1.950 13.3451 19,100 119,1001 1150,6841 48,006 198,690 48,006 44,850 144.8501 11,7061 13,3791 11,6961 13,0871 12,4501 12001 121.6551 11.2891 15,1731 1365,0111 5,728 11,7061 4,022 3.379 3,460 3,087 11,6961 13,0871 1,764 2,450 2,454 23,991 3,000 2.254 2,336 1.711 15,1731 18,538 2,254 2,336 1,711 5.173 56.074 383,549 132 74,744 Unrestrlcted funds Designated fixed asset fund General fund 58,242 59,718 1,115.787 11,007,4761 117,960 1,115,787 11,007,476) 2,824 12,9561 11321 61.066 165,073 226,139 108,311 108,311 Total funds 174.034 1,499,336 11,372,487) 126,849 300,883 Ooisome Chance b a company lirnw b¥gL4rantee Re815terÉd In England andwaS ND 29935 ReBiSterEd Chgrity No 1167787 25
OARSOME CHANCE Notes to the Financial Ststements For The Period Ended 31 Au8USt 2025 15 Funds Icontlnuedl 2024 Incoming resources Resources Alet expended movement TrUnsfe 31.03.24 01.04.23 Restrirtedfunds BBC Children In Need Berkeley Foundation Bernard Sunley (Big Givel CABWI Awarding Body Charles Hayward Foundation FatFace Foundation Gi5ela Gr3ham Foundation G05port 8orouEh Council Hampshire Active Health Programme Hampshire OlCe for Police Crime Commissioner Safer Communitles Fund Hants Playing Fields Hedley Foundation Henley Royal Regatta HIWCF Including Ironmongers, Company National Lottery Community Fund The Openwork Foundation Screwfix Foundation SEHCO Fund Society of the Holy Child Tesco Communlty Fund Together Fund AnglinE Trinity House MaSn Grant Tudor Trust 5,426 12,581 f5.426J {12.581J {5.426J (12.581) 1,000 236 {735J 4,148 11,024) 2,750 1,000 35.000 {34, 764) (735) (299) 11.024) 236 561 174 4,447 4,148 I,0( 24 2.750 2,750 22,130 (2.548) 19,282 19,282 29,500 f29,570J (70) 70 2,304 12.307) (2,171) (6,307) f4.399) f8,425J (3) {2,1711 3,693 14,399) 18,425) 3,254 6,281 4,552 8,424 1,083 9.974 153 io,ooo 9.443 (9,821) (9,821) 378 7.166 (1,438) (1.438) 3,460 3,087 12.946) (1.125) 5,728 3,460 3,087 3,460 3,087 2,946 1.125 (2.946) 11.125) 13,118) (2.906) f849J 3,118 8,079 849 f2.906) (849) 5,173 Tudor Trust, Wellbeing Grant 536 1536) f536J 72.223 116,796 1133,595) (16, 799) 650 56,074 UnrestrlctedAunds Designotedfixed assetfund GenerolAund 86,360 101,027 187,387 (28,118) 27.468 (650) 58,242 59,718 117,960 591,247 591.247 {660.024) (660.024) (68.777) 168, 777) Totolfvnds 259,610 708,043 (793,619) (85.576J 174,034 Oaison* ¢haTr Is acompany Ilmited by8uaranteÈ Retered In Enand and Wa5 No 9829935 Reglsteièd CharityNo 1167787 26
OARSOME CHANCE Notes to the Financlal Statements For The Perlod Ended 31 August 2025 16 Purpose of Designated and Restricted Funds Alpkit Towards the purchase of mountain bike equipment. Arnold Clark To provide hardship funds for students and their familie5. Big Give 24 Big Give Chrlstmas campaign in December 2024, ralsing funds towards a new vehicle. Bernard Sunley IBlg Glvel A grant to fund outdoor activity equipment. CABWI Awarding Body Two instalments during this perlod from a mu1tS-year grant funding our work supporting young people through route5 towards employabilitv. FatFace Foundatlon Funding toward5 equipment for outdoor adventurou5 activities. Get Artlve, Get Involved Funding the treation of an indoor rowing suite at our Boathouse slte. Gosport Borough Council Communlty Fund Funding towards delivering community events. Hampshire Acttve Health Programme Funding from Energiseme to deliver out of school activities in partnèrship with Motiv8. Hampshlre Office for Police Crlme Comrnissioner Safer Communltles Fund Six in5talments during thi5 period from our multi-year grant 5UPPOrting our outreach work with young people. Hedley Foundation Funding to purch8se workshop tools and equipment. Henley Royal Regatta Charltable Trnst Funding towards the c05t of delivering rowing activities for young people. HIWCF Including Communltles A grant towards a wellbeing fund for young people. Hornpipe Trust Funding towards the cost of delivering muslc actlvities for young people. jIn Wilklnson CT Funding towards the cost of a traller for transporting kayaks. MacRobert Trust Funding towards developing a sensory garden at our Boathouse site. National Lottery Community Fund: Reaching Communities Three instalments during this period from our multi-year grant supporting our Oar50me Communlty programme. Natlonal Lottery Communlty Fund: Awards for All Towards essential infrastructure costs, including IT and software. The Openwork Foundation FundinE for 5tudent-led project5. Percy 851ton A grant to buy mountain biking equipment. Screwfix Foundation Towards refurbishing a We11bein8 Room for young people. SEHCO Fund Funding towards Music Mentor salary. Oarsome ChancE15 a cvmpany Ilrnbted bYBv4rantee Registered ID England and Wales No 9829935 Reg151ered Chaiity No 11677B7 27
OARSOME CHANCE Notes to the Financlal Statements For The Period Ended 31 August 2025 16 Purpose of Deslgnated and Restrlrted Funds (continued) St James Place cr Towards the costs of moving into our new site at Fort Widley. St Jame5 Place CT- First Aid To support an upgrade to our first aid training and equipment. Swlre Trust First instalment in OUT multi-year grant supporting our Transition5 Programme. Syder Foundatlon To purchase furniture and equlpment for our new Wellbeing Spaces. Trinity House rnain grant A grant supporting the delivery of post 16 sail training. Tudoi Trust A grant funding our Wellbeing programme for students. Tudor Trust (Wellbeing Grant) A grant to support staff wellbeing initiatives. Designated fixed asset fund The designated fixed asset fund distinguishes the funds invested.in fixed assets, which are not readily available for funding on-going activities. 17 Analysls of fund balances between net a55ets Total Perlod ended Deslgnated General Unrestrlcted Restricted 31.08.2025 funds funds lunds funds Total Tangible fixed assets Investments Current assets Current liabilities 60,966 loo 60,966 100 428.564 428,564 1263,4911 1263,4911 165,073 60,966 loo 503.308 1263,4911 300.883 74,744 Total fund5 61,066 226.139 74,744 Total Year ended Designatsd General Unrestrltted Restrlrted 31.03.2024 fvnds funds fund5 Junds Total Ti7ngiblefixed assets Investments 58,142 100 58,142 100 308,808 308.808 1249,090) (249.090) 55.142 100 364,882 (249,090) Current ossets Current liobilitles 56,074 Totalfunds 58,242 59,718 117.960 56,074 174.034 Oar50me chaTr Is 3compan¥limired by8uarnntee Re8lStered kn Engla and Wales No9829935 Rewstered Chacity No 11677B7 28
OARSOME CHANCE Notes to the Flnancial Statements For The Period Ended 31 August 2025 18 Flnan¢lal Instruments Period ended Year ended 31.08.2025 31.03.2024 Categori5ation of financial instiuments.. Financial assets that are debt instrument measured at amortised cost 485.756 350.773 Financial liabilities measured at amortlsed cost 263,491 249,090 Iterns of income. expense. galns or losses The total interest income for financial assets not measured at fair valve through profit or loss is £4.50012024-. £3671. 19 ReconclllatSon of net Income I (expenditure} to net cash flow from operatlng attlvities Perlod ended Year ended 31.08.2025 31.03.2024 Net income I lexpenditurel for the year Interest receivable Depreciation and impairment of tangible fixed asse15 (Surplus) / deficit on disposal of fixed assets Ilncreasel / decrease debtors Increase / Idecreasel In creditors 126,849 185,5761 14,5001 25,189 3,092 22,008 14,401 13671 18,509 12,2721 16,956 84.333 Net cash flow from operating activities 187,039 31,583 20 Related party transactions There were no related party transactions during the year. 21 Contingent Ilabllltles The Charity provides educatlonal and related services to young people. DurlnE the year, change5 to VAT legislation relatiri8 to private School fees came into effect and management considered whether any of the Charity's activities fall within the scope of the revised rules. The CharSty has soyght clarificatlon from HMRC regarding the application of the legislation to it5 5pecifit circumstances. At the date of approval of these financial statements, no definitive conclusion has been received and the Charity contlnue5 to assess the posltion. Based on the informatlon currently available, the trustees believe that no pmvislon is required in these financial statements. However, as the ultimate application of the legislation depends upon the interpretation of the relevant rules and the speclfic facts and circumstances of the Charity's activities, there remains uncertainty a5 to whether a liabillty could arise In future periods. Due to the uncertainty surrounding the outcome, no reliable estimate of any potentlal flnancial effect has been included within these financial statements. Oarsome ChaTr L5 a company Ilmked b¥8uar4ntee ReAiStErEd in EnglahdJnd Waks No 9829935 Re81stered Charfty fio 1167787 29