Chority regi31r81ion numbec.. 1*00802 Adsurf Annual Report and Finand81 statements for the Year Ended 31 March 2025 WESTCOTTS eNAATIIIILI A¢CDUIITAMT & •USIIIIS5 AD¥ISEA8
Adsiirf Contgnts Icontinuedl Referonce and AdministratNe DetailB Trustees, R8POrt 2toS Independent Examiners ReF4)rt stalemgnt of Financlal ActNitièS Balan¢• Sheot Noles to the Financial Statements gto19
Ad•urf R•f•r•ncé and Admlnl•tratlv• D•tsll• Trust•M: Mr Pets Sm Mr¥ Kelly Reeves Mr8 Gillian Cox M188 Ellsabeth Srnilh Mr John Sweollng Mrs Zoe Ga8coyne Charlty Reglgtratlon Numb•r 1200802 PriTrcipal Offl The F1 1 mOnn$ Twraee Bude Comwall EX23 8BU WestGdts ISW) LLP 47 Bouip)rt Street Barn8tsple Dewn EX311SQ Independent Examln•r P8g8 1
Adsurf Tru8t•os' Report The Iruslges prBsenl tho annual fvport logether wilh the financial statemènts of the charty for the year ended 31 March 2025. Adsurfs Purpose. as set out In our Governlng Do¢um•nt The provl$k?n of facilitses for recfeatlon and other l$i$ure lime occupatKJn3 in the Interest of soclal welfare 8nd Ihe objoct of Improwng th• conditions of life for the pewns for thom they are intended ty providing indusive and adaptNe surfing to pBople with di6abiliti•s, th mentsl heatth ¢onditions or people who ore nouro diverse. Obl•rttvg8 and AGtiYiii•s To make sufflng a¢81¢ to all and to Improve Ihe welkbeing of those tskTrng part by providin9 daptive Surf sessp)ns to Feopb wlth dbBabilities, mental h•8lih corKlit)ns or Feople who are neurodNOT8e. To rernov• co$t as ¥ barrier, by providing freelsub81di8ed sessvJns to unlurKlèd participants. To njn bthpgn l- 150 1..1 sessbns during 2024r25 To constslidale our team of lunteerS by running mote training Bl0s and encouraglng advarncement whore appropriate. To fundr8lse to pUh0$e additional kit and equipment as necewry and 80 we contlnue to run SLt6idi8ed $•ssions for unfunded paiticipants. To facilitate prOgressn for partiGipgnts thln the sport and a pathway to Para Surfing. To be proBctNe in the development of Sdapt $urfiThJ and the kit and equipmgnt used. L8un¢h our 'Be¢oma Mobilo. campalgn lo rai80 funds for a van anLI Iraibr and a¢cgssorie$ to alk>w Adsurf lo run sesslons al other beach88 in the Strulh Wast Slren9then ti88 with Surfing England and establish Adsurf as a re(xJgnlze(I pathway to cornpetitive 8urfng When planning our 4dlvitlo8, the tru$ts&$ have con8ldered th8 Charity C¢mmiJ8ion's guidan on b8n•fit Achièvements and P•rform•n¢e In 2024 we exceeded ovr go8 and ran 220 $855)rn8 for 103 p8rticipants. We viere able to 8ubsidi3e 311 unfunded 8e8slons In 2024, through fundi)g and our own fundraising efforts. Wa also succeeded in se¢wring funthng to pJrcha8e an ethJitK>nal fteet of w8tsuits, with •Japtation8 where necessary. We ran tsvo volunteer Iralnlng day$ in 2024r25 8nd now have a surt sesslon volunteer group of over 40 people, as well as our voluntèer lundralslng committee and Tru$t88s arKI our gèneral volunteer 8UPPOrt gmup. On? of our voluntèèrs undertook tho relwanl trainng which she Gompleted and Is now 8 fully quallfied Adsurf coach. Sh&18d sevoAI $esskJn8 and is committed to rètuming for the 202S126 s8980n. In May 2024. we hosted the *ry fIt Surfing England Parn Surfing Roadshow. %thich was o great success. Two of the participgnl8 have bgcome regular para surfers training wilh Adsurf. and our Le8d In8tru¢tor has become a Surfing Eng18nd Para Team Goath. Pago 2
Adsurf Trustees, Report (continued) Both of thtsse surf¢rs, one child ond one 8dull. entered the Engfish Op8n Para Surf ChanTrionships in July, under the guidants of our instructor, and both amazingly well. ¢onsidering they only slarted surfln9 in May. Our adul surfer won his classllication event 8nd Subsequently sekded by Suffjng England to compele in the Worfd chaMonshipS in C8lrfomi8 in Novembef. which he and our instwctor attsndcd. and he (fid extrtsmoiy well. Those were *maz9 opporwnititig, •xp•ri¢n¢e8 and athievemonts for both surfers. our instnJ¢tor and lor Adsurf. have established a pathway lo pan 9t5rfir for surfers thèt want to progress and compete In Ilaboration with Surfing England. Flnanci•l Rèviaw at 31.03.2S Boi%ipts. from unrestricted income: DonaJons.' £3.614.86 Fundrai8ing: £4.315.26 Income from pald sesslon$ forfunded partitip8nts.' £3.4¥2.46 Sales of merthandlse: £1040 Other.. £12.51 Total- £12.475.09 Recelpts from restrict_ed.income-. 80thier Hinton Foundation - £1.938 CTrOp. £1,954.80 Comwall Councll Communlty Chest- £200 Sports Foundatbn for the DiBablad - £4,930 Total- £7.990.80 The bank balance carried foNard on 31.03.25 totslled- £29.685.48 £7,317.42 - R•sldctsd funds £12,fAKJ.QO- Deslonated funds £3,7.00 . ReseN88 £13,709.00- Unre8trfcted funds Tho MOGI signific)nl oxpon6O 16 Still the cnst ol instruotor f8e8. Of the romainlng rostrictod fvnds. £3,045 Is sp8crfically for th1$ purp0$9 and we wlll continue to fundralse #nd appty for fundlng to cov futur8 sesslons. Page 3
Adsurf Trustees. Report Icontinuedl R•serv•s Polky 11 wa$ thè kY)liw of Adsurf on 3151 March 2025 to maintain a bolonce in the reserves account which equates to the amount of unspent restrlded funds plus an amount of £3000 to cover the ¢osl ol replaryng our mDsl tenSIVe pie¢e of equipment plus £300 linflalion allowance). This has since been revised lo an amount of £8151 10 in¢lude'. Ursenl equipment replacement, general ¢xpersse$ and 88lary shortf811. This will be reywl regularly. Volunteern We would Ilko to thank tho volunleors for ther time, help and ¥upport they have given oNpr 2024r25. This has been InstruntaI allcNAng Adsurf lo aornOdat* the InaSed demand and 8risure th81 we enable as many of our beneficiary groups as posgble to benefit from our sessions. We wouk partlcularty like to thank the vcslunleers who helped wtlh the surf Sessions. the Fundraising Ccxnmittee and all of Ihose that helped and supported Ihe Adsurf fundraising event5 and acliviti&s. Structur• Gov•manc8 and ManJg&m•nt Adsurfs ¢>)veming DoGwnenl set out the rules regardln9 Trustevs. Them is one non-voting èttendee. The Trustèès are responsible for making decisions on all matters ol 98neral concern and importance. Icluding deciding how funds $hould be spent. These dècisions are discussed ¥nd made al Trustee meetings, and whère appropriate over the trustees Whatsqrp gioup il a meeting cannot be arranged in ts'rne or Is deemed unnecessary. Al Trustses are membeis ol the group and contrlbule or vote on any decisions made. Tha Tru6tse8 met slx Ivn•F btheon 1BI Apth 2024 and 31$1 March 2025. An AGM was held on 1 Oth Apirl 2024. Page 4
Adsurf Tru#tèa8' Roport (conllnuod) Btst•ment of Tru•t•M' R•8ponslbllttl88 Tho 1rnstee8 afo fvi prepadng Ihe Irustee8' repcrt Bnd th8 11n8nd81 staièm8rrts In accoidaritifj the Uted Kwwdom Accountin9 Standard8 Iunlted Klnpd General Arzop1 AUnting Practixl and aPpCae law 8nd regUlan#. Th8 knv applicable io cyrille$ requirns tho trust8w to prepom fmandal ststemonts for Iln8n(ial year whlch ¥? a true and lalr vK8w of the State of affalr¥ lh• tharity and of Ihg irthming rosourc and appllcation of rg•)urees of Ihe chaty lor that per)d. In preparfn9 th8S6 llnanck41 statemenls, the trle8S are To4u5r8d to: sèlecl sultr8 accc>unln9 tKlldes and then apply them consLen11, observ8 fflollK)(L% an(1 pit1w$ kn the Chafitk4$ SORP,. Makejudm•nts and eslAnatfr1kar• reasvnd)1g arnl pr4Klent: slato whglhor appllclo ar¢ountln9 Stafidards hava been followed, 8ublact to ony mTlai dopArturas (Isdose(J and oxp181n8d In tho IrAnclal ¥t•temont9,' ond prnpare finan(iel 8tatemonts on gdng canctsm basls unlos5 M Is InapprU8kn to presumo th01 thg thawity CO[8 in b&$. Thè trvst8es are re¥psibl9 for kEeplng proper acc4Jun11ng f8(wds lhat dfscbse wlth mSOA8EI• B(al¢Y al any Ilm8 the flnand81 PDsiUon E>f the tharrty 8nd ¢nat4e them to eHsyre that lh¢ fingndal statethents comply with lh8 Ch8rlUes Ad 2011. the Charitkn {Kcounts 8nd Repor181 R8gulstl( 2008, and th8 pfDvbk)ns of the consltuLlJn. The trust8&s arg rgspons(blo lor safoguardlng thè assets el the tharity and h8n¢e tr tBkkng reas0rnb st8ps lor th• pr6vthton and detedhgn of fraud and othar lff•gular4tl•s. Thg tru8teos are respDnlble for tho mftlnknnc• ¥nd kntegrfty of tho corpjrats and finand¥l IDforrnatsi)n Ied the charilable LX)mpanls bsIte. Legislallon LKJvoming iho preparation #nd diwrninatp)n of financiol Siatsmenls may dKfgr frum leglslBUon In tser ludsdictlons. The Annual r•F4)rt wa• approvod ty Ihe tru8tooo of (arlty on . behall by. . and 8Egned on its Mrs Gilian Cox Ch8lr and TnJste8
Adsurf Independent Examinerfs Roport to the Irustees of Adsurf I report to the Icuslees on my examinolion of the accounts of Adsurf for thè yeaT ended 31 March 2025. Respctrnslbllltle$ and basb of r•port Ae the charity IruJtees of Adsurf you are responsiLqe for the preparalKJn ol the accounts in acc¥)rdance with the requir¢menls of tha Charities Act 2011 {'Ihe Act'l. I report in re5ped of my examination ol the Adsurfs acCUnts carried out und8r se¢tion 145 of the 2011 Act and in carWng Dul my exambnation I have follow8d 811 the applicab Olreclions ulven by the Charity Commission under section 145{5){bl of the A. Indgpgndgnt oxamin•rfs statsment I have compkted my examlnalbn. l ¢onflmi that no material mattets h8v8 come to my attention in ¢onnection with the examinatw)n giving mg ¢au5e to beliwe that in any malerial respect.. 1. occounting C0fdS wgre not kept in iesF*¢t ol Adsurf as requlred by sfjdim 130 of the Act., or 2. the accounts ¢Jo not accord those records; or 3. the COunts do n¢t comply wrth the acwunling requirements conc&rning the form and content ol accounts $8t out in the Charrties (Accounls and Reports) Regu1)nS 2008 other than any requiremenl ihal the accounts glve a 'lrue and far view, which is not a matter considered as part of an indepeThJeni exanMnatK)n. I have no concerns and h8V8 corne across no other matters in conneciion wilh the examlnation lo whh attentlon 5houkJ be drnwn in Ihis port in order to enable a propef understanding of the acccun15 lo be reached. Calh8rtsie Williams FCA DCI Independent Examiner We81cotts (SWI LLP 47 Boutport Street Bamstapla Devon EX31 1SQ Pa99 6
Adsurf SLitement of Financlal Actlvltlos for the Year Ended 31 March 2025 RestrlGted Totsl funds 202$ UntrICted lunds Total 2024 Note Income and Endovmwrtts from: DonatKins and leg8¢igS Charitable aetwities Other tradw)g ac11t5 Total income 3,628 3.492 5,355 7.951 11,619 3,492 5,355 36.160 1,740 6,246 12,475 7.991 20,468 44.148 Exwndltvro on: R8lsing funds Charttsbl8 8ct(vilies (1,2311 16,026 11,2311 16,026 (4041 10.224) Total expenditure Nel lexpenditur}fincome Gross transfers between funds 117.2671 17.2571 (4.7821 7.991 3.209 33.518 5.595 (5.595> Net movement In fvnds Recob)¢lllatloTr of funds 813 2.396 3.209 33.518 Total fund5 brought fOard Totsl funds Carried forward 17 28,596 4.922 33,518 36.727 29,409 7,318 33.518 All of th& chadty'$ aGtMtIè8 d¢fve from continuing operation8 durin9 the tsvo perh)d$. The funds bre3kdthvn for2Q24 18 8hcpn In n¢)te 17. The noles on pages 9 to 19 fom an integral part of thos• fancIal statents. Page 7
urf (Ro9islYatlon numbof: 1200802) a•lan Sh••1 •• at 31 M•r¢h 2025 2025 2024 T8nglble as¥•ls Ctsrrfnt asB•t• D¥bts)rs Co8h al bBrl( and in hand 13 8.652 11,018 14 29,866 29.886 11.811 28.075 36.727 28230 rJ.500 1.1100 Cr•dliors: Anwunts tr4lling du• wllhln ona y•ar N•t euTh•nt 16 33.518 Fund• of th• ¢h•rity: Reotrl¢l•d In¢om• fvnd• Rgstsfcted knnds 7,318 4.922 lknr•aMcled INm•lUnd Lknrestrfcled thjrrfls 29.409 28,596 Total lund• 17 36,727 33.518 na cial 8tatefflorrto IM pw 7 to 19 WBrg appThed by the tr$, and authth189d for788 on .1& d $i9ned on thelr bthawby. Mrs &Ian Cox Chgtr ènd Tr Th& Tr)teB p4goB 9 19 19 fom an IntsgTrl part01th IlnawJAI stalements. Pagg 8
Ad5urf Not•$ to the Flnancial Statements for the Year Ended 31 March 2025 l Accountlng pollcle9 Statement of wmpll•nce The financlal statements been preparod in a¢¢ordan¢e wlh the second edition of the Charities Staterngnl of Recommended Practice issued in October 2019. the Financi31 Reporting Standard appIable in the lthited Kingdom and Republ of Ireland IFRS 1021 and Ihe Chanties Act 2011. Ba$18 of pr•p•r•tlon Adsurf meets the definition of a public benefit enlffy under FRS 102. The accounts lflnancial slalemènlsl h8ve been prépared under the historical cost convention wh items reeognised at cost or transaction value unless othetwise ststed In the relevant nolels) to Ihe8e 8C(y)unls. The acfL)unt¥ are prepared th 6terling which is Ihe functn01 currency of the entity. ExptIOn from preparfng a cash flow ststem•nt The charity is classed as a Small Charity undei the Chority SORP {FRS 1021 and has therefore tsken the exenytion from preparing a cashflow slalwneril. Golng concern The INslees consider thgt there 8fe no matsrial unc8rtainlhs aboul the ¢harls abilty to continue a8 a conGgm. Income and endowments Voluntary Income in¢luding donatlons. gfft$. legades and grants that provide core funding or are of general nature Is re¢ognised when the charity has enlillement tc the income. it is pobable Ihat the Incgme wlll be ieceivèd and the 6mount C8n be me88uied with Sufficionl relobility. 00n8t1 8nd legAcle$ C4)nations and legacks reccgnl8ed on a roGebvable b¥8is wh8n recelpl Is wobabl• and the 8rnounl can be r¢li8bly measured. Grants r•ulvable Grants ar8 recognised wPen the charity has an 8ntitlem8nl lo the funds and any condibons linked lo the grants have been mèl. Where performance conditions are attached lo the grant and are yet lo be mot, the income is recogni$ed as 8 liability and included on the balall sheet as deferred income to be teleased. Expendiknro Al expendSture 1$ recognised once there is a legBI or conslruciive obligation to that exponditura. it is probabse settkmenl b r8quTrd and the amount ¢Jn be measured reliably. All costs are alffteted to Ihe applicable expenditure headin9 that aggregate simi19r costs to that category. Where costs C8nnol be dire¢tly atlTibuled to particular headlng$ they have been allocated on a basis consistent with the use of resources. with 1[81 staff costs allocated on the basis of time spent, and depreciation Chae$ alkjcaled on th• porbon of the a$sel's use. Othèr Support Costs 8r8 allocgted b85ed on thè Spread of staff costs. Page 9
Adsurt Notes to the Flnanclal Statements for tho Yoar Ended 31 March 2025 {continued) R•l$lng funds These arg costs Incurred in ¥ttra¢ting VonI9ry In¢omo. tho maThag•menl of investments and lhe incurffjd in Ir8ding actSvitles that ralsg funds. ch&[¢ •¢llvltles Charitable expenditure comprises those $¢S incurred by th¢ charty In the delivery of ils acllvlties and SoN@S for 116 beneficiaries. It includes both Costs th81 can be allctsted dirgctly to such activit5 and thos• costs of an indiréct naturo necessary to support them. Support ¢osts Support costs include central fiJnctlon$ and have been alocgted lo activity cost categories on a basis C4)n8i$tent wrth the use of resource4 fr>r examph, alloc¥ling property costs by Il¢)or aroas, or capita. stsff costs ty tlme spent and other co8t5 by their usage. Taxation The ch81ity is considered lo pass the tests sel out In Paragraph 1 schedu 6 of the Fu)ance Act 2010 ano IherefoTe It mèets the definition of a ¢tt8rt8ble company for UK corporation lax purpo$e$. Accordingly, the charity is polentrally exempt from laxation in respect of income Dr capr(al gains received within categories Covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that Such income Qr gains are applied exCSOIY to chariigble purp08e8. Tangible fix¢d assets Indiwdual frxed oss8ts c08ting £100 or more are Initiaty reo)rded at coJl, less any subsequent eccumulalad depredatk)n and sub8equenl gccumulaled impaimient losses. Dopreclatlofi and amortlsallon Depreciation is provided on tarvJibl8 ffixed aosels so as to write off the cost or valuation, k¥$ any estimated rosldual tY. over their expected useful economK Ilfe 36 follows.. set class Depreclatlon mathod and ratè Surf Board5 StralJhl line over 3 years Wetsuits Straight line ov•r 3 years Surf Ae$SOr•9 SlroSghl line over 3 years Adwtising Ass8ts 15% straight line Cash and sh •qulvahnts Cash and cash U1valnts cpmprise cgsh cn hand and call dfjposits, gnd other short-t¥mi highty INUKI inv?$tm8n15 that are raadily Convertible to a known amount of ¢8$h and arè yjblect to On tn81gnlflcant ol chenge In value. Fund structure Un$trled income ftinds ore 98neral funds th1 are availab for use 01 the tsust9¢s discretion in furtherdnc8 ofthe o¥eclNes of the charity. Re3tr1cled income fijnds are those donated for use in a partlcular area or for specafic purposes, the use of Nyhich is roslridod lo that area or purpcse. Page 10
Adsurf Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) Flnanclal Instruments Financial assets and financSal liablties are recognised wh)en the charily becomes a party to the contractual prowsions of the instrurnenL Financ*al Iwbilities and oquity instruments are clasY4fied according to the substance of the cnntraclual orrangemenls entered into. An equity instrument is any contract that evideneeg a r8sidu81 int8res1 in the assels of the charity after d8ductir¥J all of rt8 Ilabill6. Recognitlon and measurement All financial assets and liabiliti¢$ are initially measu at trans9Ction price (In¢ludin9 transaction cos15), 8x¢epl for those fiftancial assets dasSffjd as al lair value through profil or loss, which are initially mèasurèd al lair valuè (which 15 nom)ally the transaction price exeluéing transaction costs), unless the arrangement conslilules a financing transaction. If an arr8ngernent constite$ a financing transaction. the financlal asset or financial Ilability is measurèd 81 the present value of the future payTnents (5iscounted at a market raig of inle¥est for a slrnilar d8bl inslrument. Financial a$sets ond Ik8bllf(k88 are only offset In the 5taltmenl of financial p)sition when. and on when ther¢ exists a legelty enforceable right to sel off the reGogniyed arnounls and the charity intends oither lo settle on a net basis, or lo reali8e the ass&1 and settle the liability SimultaneouY. Financial assets are dere¢ounised when and On when al Ihe contractual rights lo the casb flows from the financial asset expirè or are sattled. bl the charity Iranslers lo Bnother paty substantially all of th¥ fi5 and rewaids of ownership ol the finanrial asset, Dr cl the ch8rrty. despite havillg retained Some, but not all. significant dsks and rewards of ownorship. has transferr¥d control of the asset to another paty. Financial liabilities are dergcogniged onty when the obligalKJn 8pecifigd in tho contract is discharged, Cancelled or expires. P89011
Adsurf Not•s to the Financlal Stat•ments for the Year Endèd 31 March 2025 {contlnued) 2 In¢orn• fr don•tknns and legacl• Unr¢strlGt lund$ Restri¢ted funds Totsl 2026 DononI DonatloTrs Grnnts Grants weable 3.628 3.628 7.991 7,991 7,991 11.619 3,628 Unrn•trlcted funds Re•tricted fundB Total 2024 Donatlons Cvnatlon8 Grants Grants recefv8ble 15.352 15,3S2 20,808 20.808 20,808 3e,160 15,352 J Income from charftabte actlvlU8s Unrestrlcted tundg Total 2025 AdgPtSve $9$6itins 3.492 Unmtrlctsd funds Total 2024 Adaptlve sesjlons 1.740 1.740 Pago 12
Adsurf Not01 to tho Flnancial Statèments for tho Yoar Endad 31 March 2025 (continued) 4 Income from other trnding •ctlvillas UnrestrlGted fund8 Totsl 2025 Salg of product Income Fundrnislng Proceeds 1,040 4,315 5,355 1.040 4,315 5,355 Unrnstrlct•d funds Total 2024 Sale of product irtcoff Fundrai¥ing Proceed8 272 5.974 272 5.974 e,248 6,246 6 Exyndtture on ralslng funds al C(ots of trading activiti•8 Unrnstri¢tgd funds Total 2026 Fundraising Morchandisa 397 834 397 834 1.231 1,231 Vnrestrfcted funds Total 2024 Fundra1n9 rc*andlse 317 87 317 87 404 Pag9 13
Adsurf Notes to the Flnancial Statements for the Year Ended 31 March 2025 (Continued) 6 Exp•ndlture on chariiabl• ¢tlvltiev Unr•strictsd funds Total 2025 Ch8rtabJe activlbfrs Alkcated support ¢0813 12.952 3.074 16,026 12.952 3,074 16,028 Unr•stri¢ted funds Restricted fundg Total 2024 Charitable aCttitIeS Alloted support eo8t8 7,458 1,821 9.279 8,403 1,821 10.224 945 7 Anatysi8 of 8UPPOrt costs Support costs #llocated to charftabl• actlvltle$ Support Total 2025 Total 2024 Independent examlnatlon fe88 AoUntancY fe•s T¢phone and f&x Computer soliwar¥ and maintenance costs Legal ond profes8k)al fe85 2.486 1,000 188 100 300 188 100 300 165 178 3,074 3,074 1.821 8 Net In¢omlngloulgolng rosourc Net IncomlrvJ reswrces for the year Include: 2025 2024 Depreclalion of fixed assets 5.421 Pog• 14
Adsurf Notes to the Financial Statements for th? Year Ended 31 March 2025 (Gontinued) 9 Trustees rnmunerat5on and exp•nso5 No Iru51ees. nor any persons conneGted wlth them, hove recebved any femun8r8tion from the Gharity during the year. No trust h8v8 rec6l¥&d any revnbursed expgnses from thè charity during the y88r. 10 8tsff ¢ost3 The aggregate poyroll c0818 were 88 follow8." 2025 Stsff costs durlng the year wer•: Waps and salaries 975 The monthly average number Df persons (includlng senior management I leadership team) npknYed by the chadty durlng the year was as folbws: 2025 No Employee$ No ernpbyge rwAwed omoluments crf more Ih8n £60,000 duiing Ihe yr 11 Independènt oxaminerf• remuneratlon 2025 2024 IndeF•nd8nt wminalion fees 2,486 1,000 Page 15
Adsurf Notes to the Financlal Statements for the Year Ended 31 March 2025 {continued) 12 Taxation The charity i¥ a regi3lered thanty and is therefore exempl Irorn taxation. 13 Tanglble fix•d assets Surf Surf Advertlslng Boardo Equlprnent AGctrssorles Assets Wttsults Total Al 1 Njrll 2024 Addiiions 8,640 322 1.033 723 436 6,330 2,190 16.439 4,265 1.030 Al 31 Merch 2026 8,982 1.030 1,756 436 8.520 20.704 Dopreclatlon At 1 April 2024 Charge for the year Al 31 March 2025 2,879 2,986 345 87 65 2,110 2,840 5.421 6.631 154 5.865 154 931 152 4.950 12.052 Net book value At 31 March 2026 3,097 878 825 284 8,652 At 31 March 2024 688 349 4,220 11,018 14 Dobtors 2015 2024 PpaYMents 200 15 Cash and cash oqulvalents 202S 2024 Cash at bank 23,236 16 Croditor8: amounts fal9 du• wlthin on• year 2025 2024 Other taxation and social $urity ruals 1,8L 1.811 1,000 1,000 P40 16
Adsurt Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 17 Funds Balance at 1 Aprll 2024 Balance at 31 March 2025 Incomlng R•sources resourcgs •xpended Tran$lers Llnr•strlct•d fund8 Gerrnl Funds Van Fund S131 M•di8 Fund 28,596 12,475 117.257} 16,405) 5.000 7,000 17,409 5.000 7.000 28,596 12,475 117,25n 5.595 25,409 Restrictsd funds Claire Mlln8 Tw$t Comwall Council Community Che C&op loc81 communfjty Bude & Stratton Town Counul Green King Bal$on Trust Mencap Fund Boshigr-Hinlon Foundalkn Sports Foundation for the DisBbl6d Refill shop Everitt (4) 200 1,3S5 200 1.868 888 (375) 1,085 1,000 960 985 (1,0851 (1,C(JO) (960) (7651 220 1.936 11.936) 4,SOO 1150) 330 350 4.350 330 350 7,991 5,595 7,318 Total fvnds 33.518 17,257 36,727 DuHng the period. funds have been tr8n8ferrèd from re8trict¢d to unrestricted fvnds once thg funding h85 been utili58d by the pUh3&e of tixed assets and as a r68uIt thè restrlctk*ns on the funds have een fulfilkd. Page 17
Ad5url Notes to the Financial Statements for tho Year Endéd 31 March 2025 {continued} Balance at 31 March 2024 Incoming resou09 Rèsour expend Translers UnTestrfcted funds Genernl Gener81 Funrjs 23,338 19.6831 14,941 28,596 R•8trlctod fvnds Claiie Milne Trvsl Cornwall CounGil Community Chest South West Water
op io¢a5 community Jane Hartly Fund Bude & Stratton Town Council Grgen King Ba180n Trust Men¢ap Fund 2,500 12.4961 1.000 2,000 888 2.430 2,000 4,000 (1.0001 I2.0) 888 (2.430) 1915) 1.085 1,000 960 985 (3.0001 (30) 5,000 14,015 14.941 1945) 4,922 Total fund$ 10.628 33.518 18 Analyslg of net assets between fund• Totsl funds 4t 31 March 2025 Unrgstrkted funds Re5trlGted funds Tangible fixed assets Currgnl assets Current liabile3 8.652 22.568 11,811 29,409 8.652 29.886 11.8111 36.727 7,318 Total net assets 7,318 UnrtstrlGted fund$ Goneral Total funds al 31 March 2024 Re8trlctsd funds Tangble fixed assets Current assets Currerst11gbilitle 11,018 18,578 11,018 23.5QJ 1.000 4.922 Total net a5$ets 28.596 33,518 Po99 18
Adsurf Notes to the Flnanclal Stalements for the Year Ended 31 March 2025 {continued) 19 Rglatgd porty transaclions There were no related paty transacllons in the year. Pag¢ 19