Charily registration number.. 1200802
Adsurf
Annual RppDrt and Financial Statements
for the period from 24 October 2022 to 31 March 2024
WESTCOTTS
CNA*TEAÉD ACCOUNTANTS
I &USINE55 4DVISER5

Adsurf
Content5 Icontinuedl
Reference and Administrative Details
Tru5tees' Repori
2to5
Independent Examiner's Reoort
Stalemenl of Financial Activltias
Balance Sheet
Notes to th8 Fin8ncial Statemen15
91016

Adsurf
Roference and Administrative Delails
Chalr
Mrs Gilli3n Cox
Secretary
Mrs Zoe Ga5Goyne
Trustees:
Mr Pete Smith lappoinled 24 October 20221
Mrs Kelly Reeves lappointed 1 June 20231
Mrs Gillian Cox lappoinled 24 Octobèr 2U22}
MISS klisabelh Smlth lappolnted 1 June 20231
Mr John S￿￿ting lapFointed 1 June 20231
Mrs Zoe Gascoyne (appointed 24 October 2022)
Charity Registration Number
1200802
Prfnclpal Offlce
The Flat
1 Mopwenna Terrace
Bude
Comwall
EX23 88U
Independent Examlner
Weslcolls (SWI LLP
47 Boulport Strèet
Barnslaple
Devon
EX31 1SQ
Page 1

Adsurf
Trustees. Report
Thc trustees present tho annual report together ￿th the financi21 statements of the charity for the
period ended 31 Maich 2024.
AdSurf$ Purpose, a8 set out in ourGovernlng Document
The provisicn of fèciliti&s for recTeation and other leisure Ilme iycctjpations in the intere51 of social
wellare and the object of improvlng the cor￿ll10nS of Ilfe for the perg)ns for whom they are intended
by woviding incluqlvp and adaptive surfing to people with disabilitie& with mental health condillon8 or
people who are neuro divers
ObSective8 and Activities
To make surfing ￿essIo1e to all and to improve the welkbelng of those taklng part by providing
adaptwe surf lessons or experienees to people wth disabi1ilies. mental health condition5 or people
who are neurodiverse.
To remDve cost as a barrier, by providing fieelsubsidised sessions to unfunded participants.
To run bèlw8an 30- 50 1-.1 se55ions during QLir first se.a$nn
To establish recognised trainlng lor volunteers and a palhwdy lo achieve qualifications and gain
experience to become an Adsurf coach.
To fundraise lo purchase necessary kit and equipment lo run session5 for a5 fflany people wth
disabilities as possible.
When planning our activities, the trustees h3ve considered the Charity Commission's guidance on
public benefit.
Achievements and Performance
Registered in October 2022, we ran our f1rsl session In June 2023 and ran 98 sessions up lo October
2023, exceedin9 all expectations Due lo the weather and conditions, we expected to cease sessions
for the wnter al the end of October, however. we ￿re able to run 11 more sessions for local
participants and increased this number lo 109 by 31.03.24.
We have managed, through exten￿Ve fundr318ing and grants, to secure all of our basiG equlpment fcf
2023-2024 and 8re now able to faalitate nearty all participants, th?18pproach us for sessions. We
asso raised 3 significant amount of funds through grant5. donations and Adsurf events lo covw the
majoiity of the sesslon costs, allowing sub5idi5Ed sgbsions loi all unfunded partlGipanls.
We ran our fir51 training course lor our surf Session volunteets and coaches, and have established 8
pathway for interested voluntee￿. Into adaptive coa¢hing, for. and supported by Adsurf. One c* our
volunteers has already started Ihryr training lo become an Adsurf Adaptive Coach for the ccffling
season
We have a group 0117 trained local volunteers, Mqth more on the list for the next training course. ar)d
large group of general followers who support us at events elc
A fundraising group has been set up to help organise our local events schedLJIe.
Page 2

Adsurf
Trusteos. Roport {continued)
Financial Review al 31.03.24
Receipts from unreslricled in
DDiatior, from a ch?rity ceasing lo be.. £6,972.65
Donalions.- £8.377.50
Fundraising.. £5,974.20
In￿rne from paid sessions for funded partlGipan15'. £1,740
Sales of merchandise.. £272
other.. £1.98
Total- £23,338.33
Receipts Iron) FEslricled income-.
CCF - Claire Milne Trust- £2,500
Cornwall Council Cornmunily Chest- £1,000
South West Water- £2,000
Co-op Local Community Fund - £887.65
CCF- Jane Hartly Trust- £2,43
Bude 8 Siratlon Town Council - £2,000
Green (ing - £4,000
Ba15don Trust- £990
Mencap- £5.000
Total £20.807.65 01 which restricted funds of £4,921.49 were r8mainlng 31.03 24
The bank balanco carried foryvard on 31.03.24 tolalled £2182S.71
£4,921.49 - Rèstricted funds and reserves
£16,904.22 - unrestricted funds
The m051 significant expense, al this point, Is the cost of in51ruclor fees. 01 the romgining roslricted
funds, E3,045 Is spocifically lor thi5 purpose and it is estimale(J that this will cover th8 majority of fees
for th& CDmin9 803son.
Page 3

Adsurf
Trustops. Report Icontinuedl
Rè$eTVÈS Policy
11 Is the current policy DI Adsurf to maintain a balance in the reserves account which equates lo the
amount of unspent reslricled funds phJ5 an 8mounl of £3000 to cover the c0510l r8placing our mosl
expènsive piece of equipment plus £300 (inflation allowance). This will be reviewed annually, and
particularly, to allow fof monthly outgoings, such as instructors lees, should the incoffle or balance ol
the unrestricted funds redu¢É significantly and thor8 are no restricted funds allocatèd to these
outg05ngs
Volunteers
Wè Would like to thank the volunteers lor their time, help and support they havÈ givén over 2023124.
This has allowed Adsurf to establish and expand beyond expec18tions during our fiist 18 months ol
registration. We would particularly like ID thank the volunteers vino help9cJ wilh Ihe surf sessions and
those that helped and sUPPOrted all ol the Adsurf fundi aising events.
Structurè Govornanep and Managernent
Adsurfs Governing Document set out the rules regarding Trustees. There were thre& Trustees added
following the Trustees Meeting IAGMI on 23.05.23, making a Gurrenl board of six Iruslees There is
one non-voling member, Cyril Cox. who attends.
The Trustees a￿ responsible for making decisions Dn all matters ol general concern and Importance.
including deciding how funds should b2 spent. These decisions are discussed and made at Trustee
meetings. and where appropriate t>ver the Iruslee5 WhalsApp group if 3 meeting cannot be arranged
in lime Dr 18 deemed unnecessary. All Trustees are members of the group and contribute or vote on
any de￿$lOnS made.
The Tmsteès met eight time9 be￿n January 2J22 and January 2023. Two meetings were hel
pre-regislralion a￿d six meetings p05t-registralion. including tha first AGM on 23.05.23.
A srnall informal Fundraising Group wa5 sel up in March lo help organise Adsurf events. A nominated
TtU51ee will aim lo be at any meetings and the group will b? formerfy set up later in the year.
Page 4

Adsurf
Trustees, Report (continued)
statement of Tru5tee5' Respon5ibllitie5
The trustees are respon5',ble for prepaiing the trustees, report and the financial stalemenls in
accordance with the United Kingdom Accounlinq Standards (United Kingdom Generally Accepted
Accounting Practice) and applicxble law and regu181ions.
The law applicable lo charities requir&s the trustees lo prepafe financial Statements for e8¢h financial
period which give a true and fair vlew of the state of 31fairs of the charity and of thÈ incoming
resources and application of resources of the charity for th* period. In prèparing Ihese financial
spatements. the irustees are required to."
select suitable acEc)unting policies and then apply them consislenlly.,
observe the methods and principles in the Charities SORP-,
ake judgements and es1im8tès Ihal are reasonable and prudent.,
state whether applicable ar￿u￿ting standards have been followed. subject to any material
departur96 disGI088d and axplain•d in the financial sta18m&nls', and
prp.parp. thp. fir,anr.iAI 8tatpmp.nl8 nn Ihp. gr)ino rr>nr.prn haqi% iJnl(*s% it is inappropriate lo presume
that the chariiy will continue in business.
The Iruslees are responsiblE for keeping pioper accounting records that disclose with reasonable
aGcuracy al any lime Ihe financial posrtion ol Ihe charity and enable them to ensure that the finanGwl
statements comply with the Charities Ad 2011, the Charities {Accounts and Reports) Regulations
2008, and the provisiDlI s of the constitution. The trustees are also resptsrtsible for safeguarding the
assèts of the charity and honce for takins Teasonable steps lor the pievention and delectKsn of fraud
and other irregularilie5.
The Iru51ees are responsible lor the maintenance and integrity of the corporate and financial
information included on the Ghaiitable ¢ompanVs website. Legislation governing the p￿paratIon and
dissemination of financial stalemenls may differ Irorn legislation in other jurisdictions.
The annual report was approved by the trustees ol the charity on
behalf by.
and signed on ils
Mrs Gillian Cox
Chair and Trustee
Page 5

Adsurf
Independent Examiner's Report to the trustees of Adsurf
I report to the trustees on my examinalion of the accounts ol Adsurf for the year ended 31 March
2024.
Rosponsibililles and ba$ls of report
As the charity Iruslee5 of Adsurt you are responsible for the preparation of the account5 in
accordance with thé requirements of the Charrties Act 2011 I'lhe Act'l.
I report in respect of my examination of the Adsurfs account$ Carried out und8r section 145 of the
2011 Act and in carrying out my examination I have followed all the applicable DirecliL)ns given by thè
Charity Commission under sectlon 14515llbl of the Act.
Independent examlner's statement
I have cornpleted my examination. I confirm Ihat no rnalerial mallers have come lo my attention in
Gonneclion the examination giving me cause lo believe that in any materizl respect..
1. accounting records were not kepl iii respeil ol Adsuil d¥ I¥yIJiIVLI by seLliuii 130 uf the Act", or
2. the accounlr
do not QCCDrd with those recgrd8,' or
3. the account5 do not comply with the acGounling requirements concerning the fom and ¢onlent of
accounts set out in the Charitie5 IAccounts and Reports) Règulations 2008 other than any
requirement that the accounts give a 'true and '.aii view, which is not a matter considered as part
of an independent ex8mination.
I have no concerns and have come across no other matters in connection with the examination to
which attention should be drawn in Ihls rèport in order lo enable a prop&r undorstanding of the
ccounts lo b• r&achF*d.
atherine Williams FCA DChA
Independent Examiner
Westcotts ISVVI LLP
47 Boutport Street
Barnslaple
Devon
EX31 1SQ
Page 6

Adsurt
Statement of Financial Activitias for thg Pariod from 24 October 2Q22 to 31
March 2024
Unrestricted
funds
Re5tri¢ted
funds
Total
2024
Notè
Incomè and Endowments from:
Donations and legacies
Charitable activitses
Other tradiiig Éiclivilies
15.352
1,740
6,246
20,808
36,16G
1,740
6,246
Total income
23.338
20,808
44,146
Expondlture on:
Raising funds
Chariiable activitias
14041
19,279
14041
10,224)
945
To121 oxpendilure
Ncl incomc
GrDSS transfers between funds
19,683}
1945
11n,6?8
13,65S
14,941
19,863
114,9411
33,518
Net movernenl In funos
28,596
4.922
33,518
Recorteiliation of funds
Total fund5 carried foTW8rd
17
28,596
4,922
33.518
All of the charity's activitie5 derive from continuing operations during the above period.
The notes on pages 9 to 16 form an integral part of these financial stalemenl5.
Pago 7

Adsurf
(Registration number- 1200802)
Balance Sheet as at 31 March 2024
2024
Note
Fixed assets
Tangible assets
11,018
Cur￿rtt assets
D8btors
Cash at bank and in hand
14
23.236
23,500
11,000)
22,500
Credltors.. Arnounts falling due wlthln one year
18
Net current assets
N¥l assets
33,518
Funds of the charity:
Restricted income fund$
Restricted funds
4,922
Unrèstricted Income ftjnds
Unrestricted funds
28,596
33,518
Total funds
17
The financial stslemenls on pages 7 to 16 were approved by the trustee5, and authorised for issue on
nd Signed on their behalf by..
Mrs Gillian Cox
Chair and Trustee
The note5 on pages 9 to 16 fonn an inlEgral part of these financial stslements.
Page 8

Ad5urf
Notes to tho Financial Statements for the Period from 24 October 2022 to 31
March 2024
l Accounting policies
Statement of compliance
"rhe finanrial siatemenis have been prepared in accordance wlth the second edhtlon ol Ihe Charities
Statement ol RecomTnended Practice i55ued in October 2019. the Financial Reportinq Standard
applicable In the United Kingdom and Republic ol Ireland IFRS 1021 and the Charities Act 2011.
Basis of preparation
Adsurf meets the definition DI a public benefit entity under FRS 102. The account5 (financial
slalementsl have been prepared under the historical cost convention with items recognised at cost or
Iran5aclion value unless olheTWi5e stated in the relevant nololsl lo these a¢counls. The accounts are
prepared in stcrling which is the functional currency ol the entity.
Exemption from preparlng a cash flow statem8llt
The charity is clsssed as a sm811 charity under the Charrty SORP IFRS 1021 and has therefore taken
the exemptlDll from preparing a cashllow statement.
Going concern
Thè tiustccs consider Inal there arc no material un￿rtaInl￿$ about the charity's ability to Continue as
going concern.
Income and endowments
VoSuntary income including donations, gifts, kgacies and grants that provide core funding or are of
geieral nature is reco9nised when the charity has entitlement to the incorne, il is probable that the
income will be received and the arnount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a reGeivable basis whèn receipt is probable and the
amOLnl can be ￿liablY measured.
Grants receivable
Gran15 are recognised when the charity has dn ents"Ilement to the funds and any conditions linked Ic>
Ihe giants have beeii mel. Where perforwanGe GonditK)n5 a￿ attached lo the grant and are yel lo be
mel +he income is recognised as a liability and included on the balance Sheet as deferred inGome to
be released.
Expenditure
All expenditLJre is recognised once there is a legal or constructive obligation to that expenditure, il is
probable settlement is required and the amount can be measured reliably. All costs are allocated lo
the aoplicable expenditure heading that aggregate similar costs lo that catègory. Wh6rè costs cannot
be directly attribul8d lo particular headings they have been a11ocaled on a basis consislanl with the
use of resources, with central staff costs allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use. Other support costs Sre allocated based on (he
spread of staff cost5.
Page 9

Notes to the Financial Statements for the Period from 24 October 2022 to 31
March 2024 Icontinuedl
Raising funds
These are c051s incurred in allraGling voluntary income, the management of investments and Ihose
incurred in Ir8diY9 activities that raise fund5.
Charitabl¥ activitios
Ch3ritable expendiliire Gofflpriqes those costs Inciirred by the charity in the dèlivery ol ils activities
and services for ils beneficiaries. 11 includes both costs that can be allocated directly :o such activities
nd those costs of an indirect nalute necessary to support them.
Support costs
Support W51s include central functions and have beetTr allocated lo activity c051 categories on a basi5
consistent with the us8 01 resources, lor example, allocating property costs by flDor areas, or par
capila, Btaff costs by the lime sp8nt and other GOB16 by Ih9ir UEage.
Taxation
The charity is considered lo pess the lest5 Sel ovl in Paragraph 1 Schedule 6 of the Finance Act 2010
and therefore it meets the definition ol a charitable company for UK corporation tax purposes.
Accordingly, thg charity is potentially exempl from laxalion in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of Ihe Corporation Tax Act 2010 or Section
256 01 the Taxation of Chargeable Gains Act 1992, to the extent that Such income or gains are
applied exclusively lo charitable PLJrposes.
Tangiblè fixèd assèts
Indlvlduai flxed assets Cosling £IOO or more are inltlally recorded at cost, less any surisèquent
accumulalecl depreciation and subsequènt accumulated impairment losses.
Depreclatlon and amortlsation
DeprèciatlDn is provided on tangible fixed 88sels so as lo writè off the cost or valLJation, ',ess any
estimated residual value. over their expected useful economic lire as follows..
A5S?t class
Surf Bo8rds
Wetsuits
Surf Ac¢essori$s
Advertisirig Assets
Dep￿ciatIOn method and rate
Slraighl line over 3 years
Slraighl line over 3 years
Straight line over 3 years
1 SY. Straight line
ash and cash equSvalents
Cash and cash eouivalenls comprlse cash on hand and call deposits, and other short-leiffl highly
liquid investmeils that a￿ readily convertible lo a known atnounl of cash and ale 5UDjecl lo an
insignificant risk of change in value.
Fund structure
Un￿striCted income funds are general funds that are available lor use al the trustee5 discretion in
furtherance of the objeclives of the charity.
Reslricled income funds are those donated for usa in a particular area or for specific purposes, the
use of which is restricted to that area or purpose.
Page 10

Adsurf
Notes to the Financial Statèments for the Period from 24 October 2022 to 31
March 2024 (Gontinued>
Financial instruments
Classrfication
Finaricial assets and financial Iiabilf(ie8 are recognised when the charity becomes a party lo the
contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according lo Ihe substanea of the contraciual
arrangements ent8r8d into. An equity ingtmment is any contract that evidences a residual Interest in
the assets ol the charity after deducting all of ils liabilities.
REcognition and measurernent
All financial assets and liabilities are initially measured al tian52clion price lincluding transactk)n
ts)$tsl, except for those financial assets classified as at lair value through profil or los$, which ar
iniliolty measured at lair valuè (which is nomally the transaction price exduding transaction costs),
un￿sS thè arrangomenl constitLJlQS a Ilnanclng Ir8nsactlon. 11 an arrangement conslilule¥ a fiiidllLiriy
Irans3Ction, the financial asset or financi81 liability Is measured at the present value of the future
payTnents discounted at a rnarkei rale of interest for a sirr,ilar debt Inslrumenl.
Financial assets and liabilities are only offset in the slalement of financi81 position when. and on
when lTrere exists a legally enforceable right to set off the recognised amounts and the charity intends
either to settlo on a nel basis, or to roalise the asset and settle the liability simultaneously.
Financial 85sels are de￿COgniSed when and only when al the contraclual rights lo the cash flows
from ltye financial asset expirè or are settled, bl the charity Iransfers to another party substanliaity 811
of the risks and rewards of ownership ol the financial asset, or cl the charrty, despite having ietained
5DrHe, but not a15, significant risks and rewards ol owneiship, has Iransfeired Control of the asset lo
another partw.
Finanaal liabilities a￿ derecognised onty 4¥hen the obligation spocified in the contract is dis¢haryèd,
cancelled or expires.
PaGe 11

Adsurt
Notes to the Financial Statements for the Period from 24 October 2022 to 31
March 2024 {continuod)
2 Income from donations and legaGie5
Unrestrictèd
funds
Restricted
funds
Total
2024
Donatlons
Donations
Grants
Grants receivable
15.352
15,352
20,808
20,808
15,352
20,808
36,160
J Income from charltable act￿ltIeS
Unrestricted
funds
Total
2024
Adaptive 5e55ion5
1,740
1,740
4 Income from other trading activities
Unr•stricled
funds
Total
2024
Sale of produd incom•
Fundraising Pr¢ceeds
272
5,974
272
5.974
6,246
6,246
5 Expènditure on raislng funds
al Costs of tradlng 8¢tivitie3
UnrestrScted
funds
Total
2024
Fundr3i5ing
Merchandis&
317
87
317
87
404
Page 12

Adsurt
Not95 to the Financial Statoments for the Perlod from 24 Octob8r 2022 to 31
March 2024 (continued)
6 Expenditurg on charitablè Jctivities
UnTestricted
funds
Gèneral
Restricted
funds
Total
2024
Chartablè activities
locatèd support C0518
7,458
1,821
945
8,403
1,821
9.279
945
10,224
7 Analysis of sUPPOrt GOSts
Support costs allocated to charitable actlvltles
Support
osts
Total
2024
Independent examination fees
Accountancy feeg
Telephone and fax
Computer sofvrfare and maintenance costs
1,000
48D
185
176
1,000
480
165
176
1,821
1.821
Page 13

Adsurf
Note9 to the Financial Stat•mènts for the Period frorn 24 October 2022 to 31
March 2024 Icontlnuedl
8 Net incomingloutgolng resourGes
Net incomingloulgoing re50urc¢s for Ih&'Period include..
2024
Depreciation of fixad assets
5,421
9 Trust•os romuneratlon and expense5
No trustees, nor any person5 conneded with tham, have received any r&mun&ratlon Irom the charity
during the year.
No trustees havo received any reimbursed expenses from the Gharty during the year.
10 Staff Costs
Dunng the period the chaTSly had no employees.
11 Independent Èxaminer's remuneration
2024
Independant ex2minalion fees
Page 14

Adsurf
Notes to tho Financial Statoments for the Period from 24 October 2022 to 31
March 2024 Icontinuedl
12 Taxation
The charity is a règistered charity and is therefore exempt from taxation
13 Tanglble fixed assets
Surf
AcGessorio$
Advertising
Assets
Surf Boards
Wetsuits
Total
Cost
AddiLiDns
8,640
1,033
436
6,330
16,439
At 31 March 2024
8,640
1.033
436
S,330
16,439
Depreriatinn
Charge lor the
year
2.87g
345
87
2.110
5,421
At 31 March 2024
2,879
345
87
2,110
5,421
Net book value
At 31 March 2024
5.761
688
349
4,220
11,018
14 Debtors
2024
Pr¢péymenls
264
15 Cash and cash equlvalents
2024
Cash al bank
23.236
16 Credilor5'. amounts falling due wlthln one year
2024
Accruals
1,000
Page 15

Adsurt
Notes to the Financial Statements for the Period from 24 Octobor 2022 to 31
March 2024 {continued}
17 Fund5
Balance at
31 March
2024
Incoming
r¢source$
Resources
xpènd
Transf4rs
Unrestricted funds
Gèneral Funds
23,338
19,6831
14,941
28,596
Restricted funds
Claire Milne Trust
Cornwall Council Gommunity
Chest
South INest Watèr
Co-op local community
Jane Hartly Fund
Bude & Stratton Town Council
Graan King
Balson Trust
Mencap Fund
2,500
12,4961
1,000
2,000
888
2.430
2.000
4.000
990
5.000
12,0001
888
12,4301
{9151
1,085
1,000
960
985
13.0001
1301
14.0151
20,808
19451
14,9411
4.922
Total funds
44,146
110,6281
33,518
Ouring the period. funds have been transferred from reslricled lo unrestricted funds once the funding
ha8 been ulilised by the purchase of fixed assets and as a result Ihe restrictions on the funds have
been fulfilled.
18 Analysis of net assèts between funds
Total funds
at 31 March
2024
Unrestrlctèd
funds
Restricted
funds
Tangible fixed assets
Current as5els
Current113bilrtie5
11.018
18,578
11,0001
28,596
11,018
23,500
11,0001
33,518
4,922
Total nel asse15
4,922
19 Related party trans8Ctions
The￿ were no related p8ty transactions in the period.
Page16