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 pla￿d
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• R*8lStered 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 e￿ernallY 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 St￿ngthening 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 rese￿eS and may be
higher if deemed appropriate by the trustees.
Oèrsome C￿nce ￿ 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 circumstan￿5
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:
MOnito￿d 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 CharIt￿S activities, risk profile, funding mix, and external envlronment.
sTRu￿uftE. 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 d1￿ClOrS 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 Erngl3￿d 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 c￿￿￿an¥ 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 con￿rn
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 Fo￿ard 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 prepa￿d 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 Wa￿5 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&te￿d 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 wa￿5￿0 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 Wa￿5 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 andwa￿S 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 O￿lCe 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 Re￿￿tered In En￿and and Wa￿5 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.
jI￿n 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