Charity number: SC044195
Above Adventure
Trustees' report and financial statements
for the year ended 31 August 2024
Above Adventure
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees' report | 2 - 4 |
| Independent examiners' report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 16 |
Above Adventure
Legal and administrative information
Charity number
SC044195
Registered office
Trustees
Accountants
KFMCO Limited Chartered Certified Accountants 52 Main Street Ayr KA8 8EF
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Above Adventure
Report of the trustees (incorporating the directors' report) for the year ended 31 August 2024
The trustees present their report together with the financial statements of the charity for the year ending 31 August 2024.
The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Structure, governance and management
Recruitment and appointment of Trustees
The Charity is based in Kilmarnock, East Ayrshire with Trustees drawn from the local community, and who are appointed by the Board at the Annual General Meeting.
Objectives and activities
Charitable purposes
The organisation's purposes are to prevent or reduce homelessness and to accompany those with addictions throughout their journey to recovery by the provision of goods and services for those homeless; at risk of homelessness; those experiencing poverty or addiction or otherwise marginalised within the East Ayrshire local authority area.
Specifically this is by means of a thrice weekly one stop drop-in providing access to professional services for anyone in need, an innovative Recovery Hub assisting hard to reach people with addictions through their recovery journey. The Friendly Fresh Start project which provides household packs to families entering a tenancy, and hygiene packs and food parcels to every individual or family who presents as homeless.
Throughout the year, Above Adventure has continued to achieve its charitable objectives, focusing on the provision of accessible and inclusive climbing opportunities, supporting community engagement, and promoting physical activity. The year was notable for the completion of significant projects, the successful delivery of outreach and engagement programmes, and the hosting of major events.
The charity meets the definition of a public benefit entity under FRS102.
Achievements and performance
Completion of Capital Project
During the reporting period, Above Adventure successfully completed Phase 2 of its Indoor Climbing Centre development. This marked the conclusion of the organisation's capital project, significantly expanding the facilities available to the community and enhancing the range and quality of services offered.
Facilitation of Instructor-led Groups
Above Adventure has continued to provide instructor-led climbing sessions for disadvantaged individuals, schools, charities, and other community organisations. These activities aim to promote social inclusion, improve confidence and resilience, and support the physical and mental wellbeing of participants. The charity has maintained strong partnerships with local agencies and educational institutions to extend its reach to those most in need.
Mobile Climbing Tower Hires
Over the course of the year, over 25 mobile climbing tower events were delivered across Ayrshire, engaging over 3,500 participants. These initiatives have contributed to raising awareness of the charity's services and promoting physical activity within local communities.
Funded Outreach Activities
Funded outreach activities were delivered throughout the year, including introductory climbing sessions, and tailored programmes for at-risk and marginalised groups. External funding has enabled Above Adventure to broaden access to its services, providing positive developmental opportunities to individuals who may otherwise face barriers to participation.
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Above Adventure
Report of the trustees (incorporating the directors' report) for the year ended 31 August 2024
Hosting of Youth Climbing Series (YCS) Competition
For the second consecutive year, Above Adventure hosted Round 4 of Climb Scotland's Youth Climbing Series (YCS) competition, welcoming young climbers from across the country. Hosting this national event further establishes the organisation's profile within the climbing community and demonstrates the high standard of its facilities.
Elite Athlete Training
The centre has also hosted the British speed climbing record holder and Olympic hopeful, who utilised Above Adventure's speed wall facilities as part of their training. This association reflects the quality and suitability of the centre's infrastructure for high-performance athletes and serves to inspire the broader climbing community
Financial review
The Trustees confirm that the financial affairs of the charity have been managed in accordance with the requirements of the Charities Accounts (Scotland) Regulations 2006. The charity's reserves position remains stable, providing a solid foundation for future activity and planned development.
Efforts continue to be made to diversify funding streams, including through membership growth, grant funding, event income, and service delivery. Cost control measures remain in place to ensure the financial sustainability of the organisation.
Risk Management
The Trustees continually assess the major risks to which the charity is exposed, particularly those related to the operations and finances of the organisation. Systems and procedures have been established to mitigate those risks, including regular financial reporting, health and safety compliance reviews, and safeguarding practices.
Reserves Policy
The Trustees have adopted a reserves policy which ensures that there are sufficient unrestricted funds to meet ongoing operational commitments and to provide financial stability in the event of unforeseen circumstances. The target level of reserves is reviewed annually in line with financial projections and operational needs.
The trustees recognise that general funds were in deficit at the year end, albeit having reduced due to the operation of the bouldering and climbing centre and the intent is that unrestriced funds will improve in due course.
Plans for future periods
The Trustees have identified the following priorities for the coming year:
-
Membership Growth: Implement targeted marketing initiatives and introduce incentives to expand the charity's membership base.
-
Outreach Expansion: Increase the provision of instructor-led outreach sessions to disadvantaged groups, working in collaboration with partner agencies.
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Mobile Climbing Tower Programme: Continue and expand the delivery of mobile climbing events to engage wider audiences.
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Volunteer Development: Grow and support the volunteer base through recruitment and structured training opportunities.
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Staff Training: Invest in the continuous professional development of staff, ensuring high standards of service delivery and safety.
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Youth Work Experience Programmes: Provide structured work experience placements for young people to support skills development and employability.
The Trustees remain committed to the strategic development of Above Adventure and to maintaining its role as an accessible, inclusive, and high-quality climbing facility serving the needs of the local and wider community.
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Above Adventure
Report of the trustees (incorporating the directors' report) for the year ended 31 August 2024
Statement of trustees' responsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Scotland, the Charities and Trustee Investment (Scotland) Act 2005, Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution, 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and
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explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees recommend that KFMCO Limited remain in office until further notice.
On behalf of the board
Trustee
30 May 2025
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Above Adventure
Independent examiner's report to the trustees on the unaudited financial statements of Above Adventure.
I report on the financial statements of Above Adventure for the year ended 31 August 2024 which comprise the statement of financial activities, the balance sheet and the related notes.
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 (FRS102) (effective 1 January 2019) - (Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the accounting policies set out therein.
Respective responsibilities of trustees and independent examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations (2006). They consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with Regulation 11 of the Charity Accounts (Scotland) Regulations (2006). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(i) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Regulations; and
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to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Regulations
have not been met; or
- (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
KFMCO Limited Chartered Certified Accountants 52 Main Street Ayr KA8 8EF 30 May 2025
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Above Adventure
Statement of financial activities (incorporating the income and expenditure account)
For the year ended 31 August 2024
| Unrestricted | Unrestricted | Restricted | 2024 | 2024 | 2023 | |||
|---|---|---|---|---|---|---|---|---|
| funds | funds | Total | Total | |||||
| Notes | £ | £ | £ | £ | ||||
| Incoming resources | ||||||||
| Incoming resources from generating funds: | ||||||||
| Voluntary income | 2 | 56,813 | - | 56,813 | 831,520 | |||
| Activities for generating funds | 3 | 229,633 | - | 229,633 | 90,647 | |||
| Investment income | 4 | 3,282 | - | 3,282 | 260 | |||
| Total incoming resources | 289,728 | - | 289,728 | 922,427 | ||||
| Resources expended | ||||||||
| Charitable activities | 5 | 400,234 | 247,650 | 647,884 | 1,024,862 | |||
| Governance costs | 7 | 1,850 | - | 1,850 | 9,000 | |||
| Other resources expended | 8 | - | - | - | (5,677 | ) | ||
| Total resources expended | 402,084 | 247,650 | 649,734 | 1,028,185 | ||||
| Net incoming/(outgoing) resources | ||||||||
| before transfers | (112,356 | ) | ) (247,650 |
(360,006 | ) | (105,758 | ) | |
| Transfer between funds | 348,611 | ) (348,611 |
- | - | ||||
| Net income/expenditure for the year | 236,255 | ) (596,261 |
(360,006 | ) | (105,758 | ) | ||
| Total funds brought forward | (120,691 | ) | 1,311,216 | 1,190,525 | 1,296,283 | |||
| Total funds carried forward | 115,564 | 714,955 | 830,519 | 1,190,525 |
The notes on pages 8 to 16 form an integral part of these financial statements.
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Above Adventure
Balance sheet as at 31 August 2024
| Notes Fixed assets Tangible assets 15 Current assets Stocks Debtors 16 Cash at bank and on hand Creditors: amounts falling due within one year 17 Net current (liabilities)/assets Total assets less current liabilities Creditors: amounts falling due after more than one year 18 Net assets Funds 19 Restricted income funds Unrestricted income funds Total funds |
2024 £ £ 1,125,784 12,036 31,763 129,468 173,267 ) (220,701 ) (47,434 1,078,350 ) (247,831 830,519 714,955 115,564 830,519 |
2023 £ £ 1,232,728 14,956 37,735 272,899 325,590 ) (94,048 231,542 1,464,270 ) (273,745 1,190,525 1,311,215 ) (120,690 1,190,525 |
|---|---|---|
The financial statements were approved by the Board on 30 May 2025 and signed on its behalf by
Trustee
The notes on pages 8 to 16 form an integral part of these financial statements.
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Above Adventure
Notes to financial statements for the year ended 31 August 2024
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout this and the preceding year.
1.1. Basis of accounting
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 (FRS102) (effective 1 January 2019) - (Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) the Charities and Trustee Investment (Scotland) Act 2005 and the Scottish Charitable Incorporarted Organisations Regulations 2011. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
1.2. Fund accounting policy
Unrestricted funds are expendable at the discretion of the Trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the Trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the Trustees' discretion to apply the funds.
1.3. Incoming resources policy
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Donations and legacies consists of donations, grants and legacies. Donations are recognised when the charity is entitled to the income, receipt of the income is probable and the amount can be measured reliably. Income from grants, not subject to performance related conditions, is recognised when the charity has entitlement to the funds, it is probable that the income will be received, the amount can be measured reliability and it is not deferred.
Income from government grants is recognised when received as the accrual model is not permitted by the Statement of Recommended Practice. Legacy income is recognised when it is probable that it will be received.
Charitable activities income is received from the sale of goods and services offered as part of the charitable activities of the charity. Income from performance related grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliability.
Other trading activities consists of income received from Climbing centre, fundraising and hire of the mobile climbing tower. Income is recognised when it is probable that it will be received.
Investment income consists of bank interest received. Investment income is included when receipt is probable, and the amount can be measured reliably.
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Above Adventure
Notes to financial statements for the year ended 31 August 2024
1.4. Resources expended policy
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure has been classified under the headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources.
Expenditure is recognised on an accrual basis when a legal liability is incurred, payment of the liability is probable and the amount can be measured reliably. Expenditure to which it relates shall exclude recoverable VAT.
Raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities, events and non-charitable trading.
Governance costs are those costs incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
1.5. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Land and buildings - 2% on cost Computer equipment - 20% on cost Furniture and equipment - 33% on cost Motor vehicles - 25% on reducing balance Computer equipment - 33% on cost
1.6. Stock
Stock is valued at the lower of cost and net realisable value.
1.7. Defined contribution pension schemes
The total cost of employee benefits to which employees have become entitled as a result of service rendered to the entity during the reporting period are recognised and charged to the profit and loss account in the period to which they relate.
1.8. Charitable activities
Charitable activities comprise all resources expended undertaking work to meet the charity's charitable objectives. Such costs include the direct costs of charitable activities approved by the charity and all support costs relating to these activities. Governance costs include direct resources expended in the general running of the charity and are primarily associated with constitutional and statutory requirements. These costs are allocated entirely to charitable activities.
1.9. Allocation and apportionment of costs
Support costs are allocated wholly to charitable activities. Whilst the Trustees recognise that a small part of some items of expenditure included in support costs do relate to indirect governance costs, they are of the opinion that the time and costs involved in performing such an analysis outweigh the potential benefits arising from any such work.
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Above Adventure
Notes to financial statements for the year ended 31 August 2024
| 2. Voluntary income Unrestricted funds £ Donations 2,780 Grants - legacies 54,033 Grants - charitable activities - 56,813 Legacy grants received, included in the above, are as follows: Other small grants BBC Children in Need East Ayrshire Council Grants received, included in the above, are as follows: BBC Children in Need East Ayrshire Council - Regeneration Capital Grant Fund Historic Environment Scotland The Robertson Trust Valencia Communties Fund Foundation Scotland 3. Activities for generating funds Unrestricted funds £ Mobile Climbing Tower hire 11,308 Climbing Centre Income 117,781 Membership income 52,851 Cafe and retail sales 47,693 229,633 |
2024 Total £ 2,780 54,033 - 56,813 2024 Total £ 3,792 10,000 40,241 54,033 2024 Total £ - - - - - - - 2024 Total £ 11,308 117,781 52,851 47,693 229,633 |
2023 Total £ 2,704 16,343 812,473 |
|---|---|---|
| 831,520 | ||
| 2023 Total £ 6,210 500 9,633 |
||
| 16,343 | ||
| 2023 Total £ 10,001 457,940 197,207 5,000 9,950 132,375 |
||
| 812,473 | ||
| 2023 Total £ 7,150 60,871 7,664 14,962 |
||
| 90,647 |
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Above Adventure
Notes to financial statements for the year ended 31 August 2024
| 4. Investment income Unrestricted funds £ Bank interest receivable 3,282 3,282 5. Costs of charitable activities - by fund type Unrestricted Restricted funds funds £ £ Principal activity (see note 6) 261,067 122,608 Support costs (see note 9) 139,167 125,042 400,234 247,650 6. Costs of charitable activities - main activity Activities undertaken directly £ Wages & Salaries 145,012 Social security 7,441 Pension costs 1,163 Facilitators and instructors 11,028 Trustees' salaries 43,467 Trustees' social security - Trustees' pensions - Room hire and rates 2,467 Repairs and maintenance 125,049 Advertising 9,627 Volunteers expenses 65 Fundraising expenses - Purchases 38,356 383,676 |
2024 Total £ 3,282 3,282 2024 Total £ 383,676 264,209 647,885 2024 Total £ 145,012 7,441 1,163 11,028 43,467 - - 2,467 125,049 9,627 65 - 38,356 383,676 |
2023 Total £ 260 |
|---|---|---|
| 260 | ||
| 2023 Total £ 804,994 219,868 |
||
| 1,024,862 | ||
| 2023 Total £ 59,548 1,291 31 17,928 39,700 4,255 1,004 1,639 650,342 23,403 258 1,220 4,375 |
||
| 804,994 |
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Above Adventure
Notes to financial statements for the year ended 31 August 2024
| 7. Governance costs Unrestricted funds £ Accountancy fees 1,850 Auditor remuneration - 1,850 8. Other resources expended Loss on disposal of tangible fixed assets 9. Analysis of support costs Cost of charitable activities £ Subcontractors - Heat & light 12,411 Insurance 13,146 Training and recruitment 6,858 Computer costs 11,547 Motor expenses 5,205 Cleaning 3,432 Legal and professional fees 66,786 Telephone 1,345 Postage and stationery 159 Depreciation 113,106 General expenses 9,790 Loan 19,597 Bank charges 827 264,209 |
2024 Total £ 1,850 - 1,850 2024 Total £ - - 2024 Total £ - 12,411 13,146 6,858 11,547 5,205 3,432 66,786 1,345 159 113,106 9,790 19,597 827 264,209 |
2023 Total £ - 9,000 9,000 2023 Total £ ) (5,677 ) (5,677 2023 Total £ 13,607 11,280 33,711 9,459 11,115 3,164 7,035 4,579 1,100 1,215 104,473 7,973 9,251 1,906 |
|
|---|---|---|---|
| 219,868 |
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Above Adventure
Notes to financial statements for the year ended 31 August 2024
10. Net outgoing resources for the year
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Net outgoing resources is stated after charging: | |||
| Depreciation and other amounts written off tangible fixed assets | 113,106 | 104,474 | |
| Loss on disposal of tangible fixed assets | - | (5,677 | ) |
| Auditors' remuneration | - | 9,000 |
11. Employees
| Employment costs Wages and salaries Social security costs Pension costs |
2024 £ 188,479 7,441 1,163 197,083 |
2023 £ 99,248 5,546 1,035 |
|---|---|---|
| 105,829 |
No employee received emoluments of more than £60,000 (2023 : None).
Number of employees
The average monthly numbers of employees (including the trustees) during the year, calculated on the basis of full time equivalents, was as follows:
Trustees Staff 12. Trustees' emoluments Remuneration and other benefits |
2024 Number 2 10 12 2024 £ 43,467 |
2023 Number 1 7 |
|---|---|---|
| 8 | ||
| 2023 £ 44,959 |
13. Pension costs
The company operates a defined contribution pension scheme in respect of the staff. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £1,163 (2023 - £1,035).
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Above Adventure
Notes to financial statements for the year ended 31 August 2024
14. Taxation
The charity is exempt from tax on its charitable activities.
| 15. Tangible fixed assets Freehold Plant & Furniture & property equipment fittings £ £ £ Cost At 1 September 2023 987,392 418,223 7,118 Additions - 6,162 - At 31 August 2024 987,392 424,385 7,118 Depreciation At 1 September 2023 38,943 157,065 2,507 Charge for the year 19,748 85,697 2,370 At 31 August 2024 58,691 242,762 4,877 Net book values At 31 August 2024 928,701 181,623 2,241 At 31 August 2023 948,449 261,158 4,611 |
Motor Computer vehicles equipment Total £ £ £ 23,499 4,231 1,440,463 - - 6,162 23,499 4,231 1,446,625 5,874 3,346 207,735 4,406 885 113,106 10,280 4,231 320,841 13,219 - 1,125,784 17,625 885 1,232,728 |
|---|---|
16. Debtors
| Trade debtors Other debtors Prepayments and accrued income |
2024 £ 2,926 2,799 26,038 31,763 |
2023 £ 3,633 8,064 26,038 |
|---|---|---|
| 37,735 |
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Above Adventure
Notes to financial statements for the year ended 31 August 2024
| 17. Creditors: amounts falling due within one year Bank loans and overdraft Trade creditors Other creditors Accruals and deferred income |
2024 £ 22,138 138,143 60,420 - 220,701 |
2023 £ 9,956 1,535 812 81,745 |
|---|---|---|
| 94,048 |
A standard security was granted on 24 April 2023 in favour of Foundation Scotland over the property at Grange Church, Woodstock Street, Kilmarnock up to the first security limit securing the loan of £135,000 due by the charity.
A second ranking standard security granted on 1 February 2022 in favour of Architectural Heritage Fund securing the loan of £150,000 due by the charity over the property known as Grange Church, Woodstock Street, Kilmarnock.
A third ranking standard security in favour of East Ayrshire Council and Historic Scotland pari pass inter se. Granted on 27 February 2020 to East Ayrshire Council, securing both the Regeneration Capital Grant Fund of £2,469,911 and Renewable Energy Fund of £305,000. Granted on 10 February 2022 to Historic Environmental Scotland, securing the grant of £622,068 ove the property at Grange Church, Woodstock Street, KIlmarnock. In addition, a charge was created on 7 December 2022, in favour of East Ayrshire Council, for securing the addtional grant of £150,000 received by the charity.
A fourth ranking security was granted in favour of Foundation Scotland to the extent of the Foundation Scotland first security limit, over the property at Grange Church, Woodstock Street, Kilmarnock.
A fifth ranking security was granted in favour of Architectural Heritage Fund to the extent of the Architectural Heritage Fund second security limit, over the property at Grange Church, Woodstock Street, Kilmarnock.
A sixth ranking security was granted in favour of East Ayrshire Council and Historic Scotland pari pass inter se to the extent of the East Ayrshire Council and Historic Scotland third security limit, over the property at Grange Church, Woodstock Street, Kilmarnock.
| 18. | Creditors: amounts falling due | ||
|---|---|---|---|
| after more than one year | 2024 | 2023 | |
| £ | £ | ||
| Loans | 247,831 | 273,745 |
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Above Adventure
Notes to financial statements for the year ended 31 August 2024
| 19. | Analysis of net assets between funds | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||||||
| funds | funds | funds | ||||||||
| £ | £ | £ | ||||||||
| Fund balances at 31 August 2024 as represented by: | ||||||||||
| Tangible fixed assets | 15,460 | 1,110,324 | 1,125,784 | |||||||
| Current assets | 173,267 | - | 173,267 | |||||||
| Current liabilities | (73,163 | ) | (147,538 | ) | (220,701 | ) | ||||
| Long-term liabilities | - | (247,831 | ) | (247,831 | ) | |||||
| 115,564 | 714,955 | 830,519 | ||||||||
| 20. | Unrestricted funds | At | At | |||||||
| 1 September | Incoming | Outgoing | 31 August | |||||||
| 2023 | resources | resources | Transfers | 2024 | ||||||
| £ | £ | £ | £ | £ | ||||||
| General fund | (120,691 | ) | 289,728 | ) (402,084 |
348,611 | 115,564 |
Purposes of unrestricted funds
The general fund is for the operation of the charitable objectives of the charity at the discretion of the trustees.
| 21. | Restricted funds | At | At | ||||
|---|---|---|---|---|---|---|---|
| 1 September | Outgoing | 31 August | |||||
| 2023 | resources | Transfers | 2024 | ||||
| £ | £ | £ | £ | ||||
| Capital fund | 1,311,216 | (247,650 | ) | (348,611 | ) | 714,955 |
Purposes of restricted funds
The capital fund represents costs for the creation and maintenance of the climbing and bouldering centre.
22. Related party transactions
Key management personnel are consider to be: year amounted to £43,467.
The total paid out in the
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