2023-11-30-accounts

O'Boyle Accounting & Tax Ltd

BUSINESS ADVISORS • CHARTERED ACCOUNTANT • TAX CONSULTANTS

Mrs Pamela Fisher 47 CARROWDORE GARDENS Bangor Co Down BT19 1SU Adventure Leadership Training Trust

19 February 2024

Dear Pamela,

Accounts for Period ended 30/11/2023

Please find attached final accounts for Adventure Leadership Training Trust for the period ended 30/11/2023 [including abbreviated accounts if appropriate].

Thank you for reviewing the attached carefully and for giving your approval to O'Boyle Accounting & Taxation Ltd to file these Accounts on-line with Companies House and with HMRC.

Please do not hesitate to contact us if you have any queries.

Yours sincerely,

Gerry O'Boyle and Laurence Wright O'Boyle Accounting & Tax Ltd Chartered Management Accountants

O'Boyle Accounting & Taxation Ltd 4 Bingham Street, Bangor, BT20 5DW www.oboyleaccounting.com - Email: [e-mail] Tel: [phone]

Adventure Leadership Training Trust

Company No. NI053079

Directors' Report and Unaudited Accounts

30 November 2023

Adventure Leadership Training Trust Contents

	Pages
Company Information	2
Directors' Report	3
Income and Expenditure Account	4
Balance Sheet	5
Statement of Changes in Equity	6
Notes to the Accounts	7 to 11

Page 1

Adventure Leadership Training Trust Company Information

Directors

J. Dunaway

J. Fisher

P. Fisher

B. Gates

K. Gonzalez G. McCluskey

Registered Office

47 CARROWDORE GARDENS

Bangor Co Down BT19 1SU

Accountants

OBoyle Accounting & Tax Ltd 4 Bingham Street Bangor BT20 5DW

Page 2

Adventure Leadership Training Trust Directors Report

The Directors present their report and the accounts for the year ended 30 November 2023.

Principal activities

The principal activity of the company during the year under review was Registered Charity.

Directors

The Directors who served at any time during the year were as follows:

J. Dunaway

J. Fisher P. Fisher B. Gates

K. Gonzalez

G. McCluskey

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

P. Fisher Director 30 November 2023

Page 3

Adventure Leadership Training Trust Income and Expenditure Account

for the year ended 30 November 2023

for the year ended 30 November 2023
Turnover Cost of Sales Gross profit Distribution costs and selling expenses Administrative expenses Operating (deficit)/surplus Other interest receivable Interest payable and similar charges (Deficit)/Surplus on ordinary activities before taxation Taxation (Deficit)/Surplus for the financial year after taxation	2023 £ 52,861 (9,727) 43,134 (5,781) (37,416) (63) 6 (3,267) (3,324) - (3,324)	2022 £ 56,478 (8,772)
		47,706 (2,538) (32,087)
		13,081 2 (2,983)
		10,100 -
		10,100

Page 4

Adventure Leadership Training Trust Balance Sheet

at 30 November 2023

at 30 November 2023
Company No. NI053079 Notes 2023 £ Fixed assets Tangible assets 4 96,578 96,578 Current assets Cash at bank and in hand 1,676 1,676 Creditors:Amount falling due within one year 5 1 Net current assets 1,677 Total assets less current liabilities 98,255 Creditors:Amounts falling due after more than one year 6 (43,558) Net assets 54,697 Reserves Other reserves 7 43,272 Income and expenditure account 11,425 Total equity 54,697	2022 £ 96,859
	96,859 8,113
	8,113 1
	8,114 104,973 (46,951)
	58,022
	43,272 14,750
	58,022

Total equity

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 30 November 2023 and signed on its behalf by:

P. Fisher Director 30 November 2023

Page 5

Adventure Leadership Training Trust Statement of Changes in Equity

for the year ended 30 November 2023

for the year ended 30 November 2023
At 1 December 2021 Surplus for the year At 30 November 2022 and 1 December 2022 Deficit for the year At 30 November 2023	Other Reserves £ 43,272 43,272 43,272	Income and Expenditure Account £ 4,650 10,100 14,749	Total equity £ 47,922
			10,100
			58,021
		(3,324)	(3,324)
		11,425	54,697

Page 6

Adventure Leadership Training Trust Notes to the Accounts

for the year ended 30 November 2023

• 1 General information

Adventure Leadership Training Trust is a private company limited by guarantee and incorporated in Northern Ireland.

Its registered number is: NI053079 Its registered office is: 47 CARROWDORE GARDENS Bangor Co Down BT19 1SU

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

• 2 Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:

• the Company has transferred to the buyer the significant risks and rewards of ownership of the goods;

• the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

• the amount of revenue can be measured reliably;

• it is probable that the economic benefits associated with the transaction will flow to the Company; and

• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Research and development costs

Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line.

Page 7

Adventure Leadership Training Trust Notes to the Accounts

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from the surplus as reported in the income and expenditure account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in the income and expenditure account, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the income and expenditure account.

No depreciation is provided in respect of investment properties.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Page 8

Adventure Leadership Training Trust Notes to the Accounts

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to income and expenditure account as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the income and expenditure account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Page 9

Adventure Leadership Training Trust Notes to the Accounts

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in the income and expenditure account, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the income and expenditure account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
		2023	2022
		Number	Number
	The average monthly number of employees (including directors) during the year was:	0	0

Page 10

Adventure Leadership Training Trust Notes to the Accounts

4 Tangible fixed assets

Cost or revaluation At 1 December 2022 At 30 November 2023 Depreciation At 1 December 2022 Charge for the year At 30 November 2023 Net book values At 30 November 2023 At 30 November 2022 5 Creditors: amounts falling due within one year Accruals and deferred income 6 Creditors: amounts falling due after more than one year Other loans 7 Reserves At 1 December 2021 At 30 November 2022 and 1 December 2022 At 30 November 2023	Land and buildings £ 93,734	Motor vehicles £ 3,500	Total £ 97,234
	93,734	3,500	97,234
	- -	375 281	375 281
	-	656	656
	93,734	2,844	96,578
	93,734	3,125	96,859
	2023 £ (1)	Other reserves £	2022 £ (1)
	(1)		(1)
	2023 £ 43,558		2022 £ 46,951
	43,558		46,951
			Total other reserves £
		43,272	43,272
		43,272	43,272
		43,272	43,272

Other reserves - .

Income and expenditure account - includes all current and prior period retained surpluses and deficits.

Page 11

Adventure Leadership Training Trust Detailed Income and Expenditure Account

for the year ended 30 November 2023

Turnover Direct premises costs - Rent Other direct costs Other direct costs Cost of sales Gross profit Distribution costs Other distribution costs Other direct costs Selling and marketing expenses Other selling and marketing costs Exhibitions and promotions Distribution costs and selling expenses Other administrative costs Employee costs Salaries/wages Motor and travel costs Vehicles - General costs Travel and subsistence Premises costs Rent Light, heat and power Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of fixtures, fittings and equipment Bank charges General insurances Postage and couriers Subscriptions Sundry expenses	2023 £ 52,861 9,727 - 9,727 9,727 43,134 389 389 5,392 5,392 5,781 423 423 631 76 707 523 5,226 190 5,939 281 85 3,424 28 13 4,534	2022 £ 56,478 7,915 857
		8,772
		8,772 47,706 761
		761
		1,777
		1,777
		2,538
		-
		-
		2,474 -
		2,474
		492 3,554 105
		4,151
		375 79 3,344 6 13 981

Page 12

Adventure Leadership Training Trust Detailed Income and Expenditure Account

Adventure Leadership Training Trust Detailed Income and Expenditure Account
Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Administrative expenses Operating (deficit)/surplus Other interest receivable Bank interest receivable Interest payable and similar charges Bank loan and overdraft interest payable (Deficit)/Surplus on ordinary activities before taxation	605 8,970 775 20,602 21,377 37,416 (63) 6 6 3,267 3,267 (3,324)	590
		5,388
		479
		19,595
		20,074
		32,087
		13,081 2
		2
		2,983
		2,983
		10,100

Page 13