2024-12-31-accounts

Company No. 2238901

Charity No. 299332

DEVELOPMENT THROUGH CHALLENGE

(A company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Development Through Challenge

For the year ended 31 December 2024

Contents

	Page
Legal and Administrative Details	1
Report of the Trustees	2 – 7
Independent Auditors’ Report	8 - 10
Statement of Financial Activities	11
Balance Sheet	12
Statement of Cash flows	13
Notes to the Financial Statements	14 – 21

DEVELOPMENT THROUGH CHALLENGE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Reference and Administrative Details

The legal and administrative information is set out below and forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice – Accounting and Reporting by Charities: (FRS 102).

• Charity Name: Development through Challenge

• Company Registration Number: 02238901

• Charity number: 299332

• Registered Office and Operational Address: Mile End Climbing Wall, Haverfield Road, London, E3 5BE

• Trustees (Honorary Officers): The Trustees who served during the year and up to the date of this report were:

• Rod Leefe

• Calum Mclean

• Carolina Filippini

• Chris Beal

• Michaela Clayton

• Daniel James Hobden

• Angharad Corona

• Naomi Goldberg

• Abhinav Kurup (Appointed 21[st] July 2025)

• Principal Staff: Dean Straw (Chief Executive Officer)

• Auditors: Goldwins Limited, Chartered Accountants, 75 Maygrove Road, West Hampstead, London, NW6 2EG

• Bankers: National Westminster Bank, PO Box 3242, Albion Yard, 331/335 Whitechapel Road, London, E1 1AU

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The Trustees present their report and the financial statements for the charity, Development through Challenge (company registration number 02238901), for the year ended 31 December 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity.

Structure, Governance and Management

• Status: The organisation is a charitable Company limited by guarantee, incorporated on 23 March 1988 and registered as a charity on 24 May 1988.

• Governing Document: The Company was established under a memorandum of association, which establishes the objects and powers of the charitable Company and is governed under its articles of association.

• Recruitment and Appointment of Trustees: Trustees are recruited by placing advertisements on and offline and are appointed by resolution for a 3-year term. They may be reappointed for a maximum of one subsequent term, after which they must take a year’s break from office.

• Trustee Induction and Training: A governance document is in place setting out the roles and responsibilities and financial authorities of the trustees and management. Trustees attend training on their legal responsibilities; are provided with learning material from the Charities Commission and their learning activity is assessed and discussed quarterly.

• Organisational Structure: The Board of Trustees who initiate, assess and review the work of DTC, its staff and resources undertake the governance of the charity. The audited accounts and the annual report are reviewed and approved at a Trustee Meeting. Day-to-day management is delegated to the Chief Executive Officer and the staff team at Mile End Climbing Wall. The charity also benefits from the insights of a Stakeholder Committee.

• Related Parties: There were no related party transactions during the year (2023: Nil).

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Objectives and Activities

The Trustees have reviewed the charity's aims and objectives and confirm that they comply with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

Our Charitable Objects:

• the provision of public recreational facilities in the interest of social welfare and improving conditions of life for the benefit of the public.

• the promotion of community participation in healthy recreation and sport.

• the advancement of education for the benefit of the public with a non-exclusive focus on rescue training and rope handling to promote safety and prevent loss of life.

Our Vision: Inspiring personal growth through physical and mental challenges for a fitter, healthier, and inclusive community.

Our Mission: Embracing our roots within indoor climbing and adventurous activities... We provide facilities, programmes and opportunities for people to be challenged, get active, and improve their physical health and mental wellbeing. We work to remove barriers to participation. We work in collaboration with others who share our values.

Our Values:

• Adventurous: Challenge and adventure improve physical health and mental wellbeing, and resilience, and can equip us with important life skills. We celebrate these benefits, believing everyone can experience them no matter what a challenge looks like for them.

• Pioneering: There’s excitement around the ‘unknown’. We focus on the future, embracing new ideas and developments, and challenging ourselves to improve.

• Togetherness: We build meaningful relationships with people and organisations, actively listening to them and being guided by their lived-experience in our decision making.

• Authenticity: We are transparent in our decision making and a force for good to foster trust in our community.

In planning our activities for the year, the Trustees considered the Charity Commission's guidance on public benefit. The activities undertaken by the charity, as detailed below, clearly demonstrate how the charity meets its charitable objects for the public benefit

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Key Activities and Achievements in 2024:

The past year marked a period of important reflection and renewal for Development through Challenge, ensuring we remain relevant and responsive to our community's evolving needs.

• Supporting Community Health by Providing Inclusive, Accessible Climbing and Wellbeing Facilities:

• Worshipful Company of Horners Partnership: We received a significant donation of £23,931.17 from the Worshipful Company of Horners, secured during our year as the Master's charity in 2024. This funding will directly support increasing participation of disabled people in indoor climbing, including our partnership with Metro Blind Sport and the upcoming Aim 2 Change summit.

• Climbing Price Freeze: Committed to freezing climbing prices until at least June 2025, maintaining current pricing for over 18 months to ensure continued accessibility amidst rising living costs.

• Centre Improvements: Added over 200 new climbing holds, upgraded cleaning equipment, and replaced carpets with safer, more sustainable materials.

• Eco Audit: Completed a comprehensive eco-audit in partnership with the City Bridge Foundation to assess our carbon footprint and identify ways to reduce environmental impact.

• Sauna Expansion: Built a second traditional Finnish sauna ("Kaksi") and added a refreshing outdoor shower and plunge pool, expanding wellbeing offerings.

• Supporting the Development and Diversity of the Climbing Community:

• Queer Climb: Continued monthly sessions, welcoming 344 climbers (41 free spaces) and providing a safe, inclusive space for the LGBTQI+ community.

• Women’s Climb: Ran weekly women-only climbing socials, with 300 climbers participating, fostering confidence and connection in a relaxed environment.

• Fossil Fest 2024: Hosted the first-ever informal climbing competition for climbers aged 40+, with over 100 participants, celebrating classic-style problems and community.

• Mile End Squad: Continued to support young talent through subsidised training and sponsorship for athletes competing nationally and internationally

• Support Youth Climbing Across the Country: Hosted Round 3 of the Youth

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Climbing Series 2024 and an Open Development Day for young aspiring athletes in collaboration with Team GB and the British Mountaineering Council, offering our facilities free of charge to inspire the next generation.

• Helping People Learn and Build Skills to Contribute to their Communities:

• Plas Y Brenin Partnership: Supported the Mountain Adventure Fund in delivering a transformative five-day residential at Plas y Brenin for students from Mulberry Trust School, providing outdoor adventure experiences (canoeing, paddling, climbing, gorge scrambling) and building confidence and resilience.

• Schools Programme: Expanded our reduced-cost schools programme, supporting 18 schools. Delivered tailored PE programmes to four schools (including two SEN schools and one PRU), reaching 98 students. Delivered GCSE climbing modules to over 200 students across nine schools, supporting curriculum outcomes and essential life skills.

4. Financial Review

The financial statements show a healthy financial position for Development through Challenge for the year ended 31 December 2024.

• Income: Total income for the year was £1,241,262 (2023: £1,105,481).

• Expenditure: Total expenditure for the year was £1,205,183 (2023: £1,176,170).

• Net Movement in Funds: The charity recorded a net income of £36,079 for the year (2023: net expenditure of £70,689). This positive movement reflects the growth in income, particularly from climbing facilities and donations

• Reserves Policy: It is the policy of DTC to maintain, where possible, sufficient general reserves to allow DTC to maintain the climbing wall, premises and core staff and remain open while sustaining a significant temporary drop in customers and revenue. DTC also carries insurance for loss of income arising from any major disruption to the activity of the climbing wall. At the year-end, the unrestricted funds provide a solid base for future activities

6. Risk Statement

The Trustees of DTC, together with the auditors, conduct regular risk reviews of the activities. Apart from normal commercial risk, the principal areas requiring

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management are Health and Safety, internal control and the segregation of duties, and the loss of customers to competing facilities.

A governance document is in place setting out the roles and responsibilities and financial authorities of the trustees and management. All staff have written job descriptions. Financial procedures and internal controls have been reviewed, and monthly management accounts on a full accrual basis are produced.

The Trustees consider that adequate systems exist to identify major risks and that adequate steps have been taken to mitigate those risks currently identified.

7. Statement of Trustees' Responsibilities

The Trustees (who are also directors of Development through Challenge for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently.

• observe the methods and principles in the Charities Statement of Recommended Practice (SORP).

• make judgments and estimates that are reasonable and prudent.

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The Trustees are responsible for keeping proper 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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8. Auditors

Goldwins have expressed their willingness to continue in office and a resolution for their reappointment will be laid before the Board.

9. Statement as to Disclosure of Information to Auditors

The Trustees in office at the date of approval of this report have confirmed that, as far as they are aware, there is no relevant audit information of which the auditors are unaware. Each of the Trustees has confirmed that they have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditors.

Approved by the Board of Trustees on 21 July 2025 and signed on its behalf by:

Rod Leefe Chairman of Trustees Date: 2 1 July 2025

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Independent Auditor’s Report

To the members of

Development Through Challenge

Opinion

We have audited the financial statements of Development Through Challenge for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Opinion on financial statements

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31 December 2024 and of its income and expenditure for the year then ended:

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCʼs Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity'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 directors with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are

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Independent Auditor’s Report

To the members of

Development Through Challenge

required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the trustees’ report (incorporating the directors’ report) have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of the trustees

As explained more fully in the Trustees’ Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charityʼs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorʼs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the

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Independent Auditor’s Report

To the members of

Development Through Challenge

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 instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

• We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity's policies and procedures relating to the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.

• We inspected the minutes of meetings of those charged with governance.

• We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.

• In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councilʼs website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an auditor’s 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 charity and the charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

……………………………….

Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG

22 September 2025

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DEVELOPMENT THROUGH CHALLENGE STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024

Note Income from: Donations and legacies 3a. Charitable activities: Climbing facilities 3b. Other trading activities: 3c. Sub letting Café income Other income 3d. Total income Expenditure on: Advertising and fundraising Café Charitable activities: Climbing facilities Total expenditure 4. Net income / (expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 11	2024 2023 Restricted Unrestricted Total Total Funds Funds Funds Funds £ £ £ £ - 108,039 108,039 63,763 - 1,024,113 1,024,113 961,843 - 10,759 10,759 9,275 - 63,132 63,132 59,536 - 35,219 35,219 11,064
	- 1,241,262 1,241,262 1,105,481 - 6,761 6,761 1,504 - 30,676 30,676 34,288 1,750 1,165,996 1,167,746 1,140,378
	1,750 1,203,433 1,205,183 1,176,170
	(1,750) 37,829 36,079 (70,689) - - - -
	(1,750) 37,829 36,079 (70,689) 7,466 907,579 915,045 985,734
	5,716 945,408 951,124 915,045

All of the above results are derived from continuing activities.

There were no other recognised gains or losses other than those stated above.

The attached notes form part of these financial statements.

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DEVELOPMENT THROUGH CHALLENGE BALANCE SHEET AS AT 31 DECEMBER 2024

		2024		2023
	Note	£	£	£	£
Fixed Assets:
Tangible fixed assets	8.		274,218		280,911
Current Assets:
Debtors	9.	50,268		34,509
Cash at bank and in hand		689,643		695,054
		739,911		729,563
Creditors: Amounts falling due within
one year:	10.	(63,005)		(95,429)
Net Current assets			676,906		634,134
Creditors: Amounts falling due in more
than one year:	11.		-		-
Total net assets			951,124		915,045
Reserves:
Restricted funds			5,716		7,466
Unrestricted funds			945,408		907,579
	12		951,124		915,045
Approved by the Board of Trustees on …..............................and signed on its behalf by: 21 July 2025

……………………………………

Rod Leefe Chairman

Company registration no. 02238901

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DEVELOPMENT THROUGH CHALLENGE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

Note 2024 £ 13 Cash flows from investing activities: Sale / (purchase) of fixed assets (51,832) Cash provided by / (used in) investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 14 Net cash provided by / (used in) operating activities	Note 2024 £ 13 Cash flows from investing activities: Sale / (purchase) of fixed assets (51,832) Cash provided by / (used in) investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 14 Net cash provided by / (used in) operating activities	2024 £ 46,421 (51,832)	2023 £ (169,741)	2023 £ 15,308 (169,741)
		(5,411) 695,054		(154,433) 849,487
		689,643		695,054

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DEVELOPMENT THROUGH CHALLENGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with 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 (FRS 102 - effective 1 January 2019) - (Charities SORP FRS 102) and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

b) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

d) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Fees income represents income derived from members to use facilities and is stated exclusive of value added tax. This includes a one off member charge which entitles the member to use the facilities thereafter. These membership charges are recognised when received.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

f) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Restricted funds are funds which the funder has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

Designated funds are unrestricted funds set aside by the Trustees for particular purposes.

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DEVELOPMENT THROUGH CHALLENGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. Accounting policies

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

• Costs of raising funds comprise of trading costs and the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.

• Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity and its and activities. Support costs are allocated between cost of raising funds and charitable activities.

i) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset on a straight-line basis to its estimated residual value over its expected useful life. The depreciation rates in use as follows:

Leasehold improvements Over the remaining life of the lease or shorter, as appropriate Climbing wall 10 years Climbing equipment 5 years Office equipment 5 years

j) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

l) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

m) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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DEVELOPMENT THROUGH CHALLENGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Detailed comparatives for the statement of financial activities	2. Detailed comparatives for the statement of financial activities	2023 2023 2023 Restricted Unrestricted Total Funds Funds Funds £ £ £ - 63,763 63,763 - 961,843 961,843 - 9,275 9,275 - 59,536 59,536 - 11,064 11,064
Income from: Donations and grants Charitable activities: Climbing facilities Other trading activities: Sub letting Café income Other income Total income Expenditure on: Advertising and fundraising Café Charitable activities: Climbing facilities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3a. Donations, legacies and similar income Donations Grants and other income Gift aid 3b. Climbing facility income Climbing and equipment hire fees Membership fees Sauna income Course fees
		- 1,105,481 1,105,481 - 1,504 1,504 - 34,288 34,288 - 1,140,378 1,140,378
		- 1,176,170 1,176,170
		- (70,689) (70,689) 7,466 978,268 985,734
		7,466 907,579 915,045
	- 108,039 108,039 63,763
	2024 2023 Restricted Unrestricted Total Total £ £ £ £ - 774,993 774,993 726,493 - - - 62,875 - 137,177 137,177 - - 111,943 111,943 172,475
	- 1,024,113 1,024,113 961,843

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DEVELOPMENT THROUGH CHALLENGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

3c. Other trading activities

Subletting income Café income Other income Bank interest	2024 2023 Restricted Unrestricted Total Total £ £ £ £ - 10,759 10,759 9,275 - 63,132 63,132 59,536
	- 73,891 73,891 68,811
	2024 2023 Restricted Unrestricted Total Total £ £ £ £ - 35,219 35,219 11,064
	- 35,219 35,219 11,064

3d. Other income

4. Total Expenditure

Total Expenditure
Staff cost (Note 6) Premises General office cost Insurance Legal & professional fees Audit fees Training costs Donation Contract climbing costs Bank charges and interest Advertising and promotion Climbing equipment Maintenance Wall General repair and maintenance Purchase of goods for resale Depreciation Total Support costs allocation Total Expenditure 2024 Total Expenditure 2023	2024 2023 Raising funds Café Climbing facilities Support costs Total Total £ £ £ £ £ £ - - 801,016 - 801,016 745,869 - - 117,222 - 117,222 114,142 - - 67,618 - 67,618 80,451 - - 15,984 - 15,984 14,524 - - - 10,607 10,607 25,554 - - - 6,600 6,600 6,600 - - 4,463 - 4,463 7,112 - - 6,500 - 6,500 - - - 24,643 - 24,643 20,667 - - - 23,966 23,966 19,133 6,761 - - - 6,761 1,504 - - 10,140 - 10,140 17,451 - - 4,324 - 4,324 2,191 - - 16,138 - 16,138 10,437 - 30,676 - - 30,676 34,288 58,525 - 58,525 76,247
	6,761 30,676 1,126,573 41,173 1,205,183 1,176,170 - - 41,173 (41,173) - 6,761 30,676 1,167,746 - 1,205,183
	1,504 34,288 1,140,378 - 1,176,170

Support costs are allocated between activities on the basis of staff time spent.

Of the total expenditure £1,750 was restricted expenditure (2023: £Nill) and £1,205,594 was unrestricted expenditure (2023: £1,176,170).

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DEVELOPMENT THROUGH CHALLENGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

5. Net income / (expenditure) for the year

This is stated after charging / (crediting):

Net income / (expenditure) for the year This is stated after charging / (crediting):
	2024	2023
	£	£
Depreciation	58,525	76,247
Auditors remuneration	5,500	5,500

6. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Salaries and wages Social security costs Pension costs Other staff costs	2024 2023 £ £ 725,638 672,989 56,087 52,004 12,499 13,096 6,792 7,780
	801,016 745,869

No employee earned more than £60,000 during the year.

The total employee benefits including Employer's NIC and pension contributions of the key management personnel were £74,036 (2023: £65,520).

No trustee received any remuneration during the year and no trustee was reimbursed for travel or any other expenses (2023: Nil).

The average number of employees (head count based on number of staff employed) during the year was:

Running of the climbing facilities Management and administration	2024 2023 No. No. 33 37 1 1
	34 38

7. Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

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DEVELOPMENT THROUGH CHALLENGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

8. Tangible fixed assets

Cost At the start of the year Additions in year At the end of the year Depreciation At the start of the year Charge for the year At the end of the year Net book value At the end of the year At the start of the year	Improvement to premises Climbing wall Climbing equipment Office Equipment Total £ £ £ £ £ 666,184 735,290 176,910 154,093 1,732,477 15,735 14,358 15,181 6,558 51,832
	681,919 749,648 192,091 160,651 1,784,309
	514,199 648,389 141,420 147,558 1,451,566 17,415 20,090 14,181 6,839 58,525
	531,614 668,479 155,601 154,397 1,510,091
	150,305 81,169 36,490 6,254 274,218
	151,985 86,901 35,490 6,535 280,911

All of the above assets are used for charitable purposes.

9. Debtors

Trade debtors Other debtors and prepayments	2024 2023 £ £ 692 332 49,576 34,177
	50,268 34,509

10. Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Taxation and social security Other creditors and accruals Deferred income	2024 2023 £ £ 25,980 28,173 14,874 49,556 22,151 17,700
	63,005 95,429

Deferred income represents amounts received in advance for the events due to take place in next financial year

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DEVELOPMENT THROUGH CHALLENGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

11 Analysis of net assets between funds

			Restricted	Unrestricted	Total
			funds	funds	funds
			£	£	£
Tangible fixed assets			-	274,218	274,218
Net current assets			5,716	671,190	676,906
Long term liabilities			-	-	-
Net assets at the end of the year			5,716	945,408	951,124
			Restricted	Unrestricted	Total
Analysis of net assets between funds 2023			funds	funds	funds
			£	£	£
Tangible fixed assets			-	280,911	280,911
Net current assets			7,466	626,668	634,134
Long term liabilities			-	-	-
Net assets at the end of the year			7,466	907,579	915,045
Movements in funds
	At the start of the year	Income	Expenses	Transfers	At the end of the year
	£	£	£	£	£
Restricted funds:
Squad funds	5,113	-	(1,000)	-	4,113
Andy Reid memorial funds	2,353	-	(750)	-	1,603
	7,466	-	(1,750)	-	5,716
General funds	907,579	1,241,262	(1,203,433)	-	945,408
Total funds	915,045	1,241,262	(1,205,183)	-	951,124
Movements in funds 2023
	At the start of the year	Income	Expenses	Transfers	At the end of the year
	£	£	£	£	£
Restricted funds:
Squad funds	5,113	-		-	5,113
Andy Reid memorial funds	2,353	-		-	2,353
	7,466	-	-	-	7,466
General funds	978,268	1,105,481	(1,176,170)	-	907,579
Total funds	985,734	1,105,481	(1,176,170)	-	915,045

12 Movements in funds

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DEVELOPMENT THROUGH CHALLENGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13 Reconciliation of net income / (expenditure) to net cash flow from operating activities

Net income / (expenditure) for the reporting period (as per the consolidated statement of financial activities) Depreciation (Increase) / decrease in debtors Increase / (decrease) in creditors Net cash provided by / (used in) operating activities	2024 2023 £ £ 36,079 (70,689) 58,525 76,247 (15,759) (20,916) (32,424) 30,666
	46,421 15,308

14 Analysis of cash and cash equivalents

Analysis of cash and cash equivalents
Cash at bank and in hand Total cash and cash equivalents	At the start of the year Cash flows Other changes At the end of the year £ £ £ £ 695,054 (5,411) - 689,643
	695,054 (5,411) - 689,643

15 Related party transactions

There were no related party transaction during the year (2023: Nil).

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