Lancashire Outdoor Activities Initiative - Charities report

REGISTERED COMPANY NUMBER: 03539233 (England and Wales)

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

FOR

LANCASHIRE OUTDOOR ACTIVITIES INITIATIVE

Page

Chairman's Report

1

to

2

Report of the Trustees

3

to

5

Report of the Independent Auditors

6

to

9

Statement of Financial Activities

10

Balance Sheet

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

to

23

Lancashire Outdoor Activities Initiative (LOAI) 31st July 2025 Annual Report

It is my pleasure that I present the Chairman's Report for the financial year ending 31st July 2025. After a challenging 2024/2025, this year has been one of rebuilding, progress, and changes.

Financial Recovery and Stability

The past year presented us with significant financial challenges, resulting in a substantial deficit. The main factors that added to our financial burden include various facilities repairs and increased costs from the increased personnel. We have taken important steps to ensure our financial health by planning for the future. Through a strategic partnership with United Utilities we expect to be in a position to report a healthy financial position in the coming year. Support from organisations including the University of Greater Manchester has been instrumental in maintaining stability and enabling new growth opportunities.

Key Achievements in 2024/25

1. Partnerships and Community Engagement

The Anderton Centre continues to strengthen its role within the community through strategic partnerships. Our involvement with the Bolton CVS partnership and Bruce Wake Charity demonstrates our commitment to promoting, community and youth support as well health and wellness.

2. Accessibility and Inclusivity

We are very proud of winning the Bolton Together Collaboration Award at Bolton Together Achievement Awards. We continuously improving our website's accessibility and social media presence, broadening our inclusive offerings, and expanding our focus on accessibility by everyone.

3. Corporate and Educational Success

The Anderton Centre's reputation continues to grow, attracting corporate clients such as Leyland Trucks, and on going growing Decathlon partnership. Our spring open day was a success with 344 paid participants for a day of fun and community spirit.

Our new café and pizza venue has experienced some delay in opening and operating properly, due to some suppliers issues. The café is gradually operating in limited capacity but we are confident that the café will start operating in full within the new year.

4. Youth and Leadership Development

This year, Anderton attended the Bolton Lads and Girls Club Community Day celebrating the quality work being done to support young people across the borough. A great opportunity to connect with families and showcase our indoor activity programmes and strengthen relationships with local partners.

5. Open water Swimming. The open water swimming has been delayed due to exceptionally low levels of water. Despite the delay, the open water swimming remains as one of our high profile priorities.

Event Highlights

6. The Anderton Centre's events have continued to attract widespread interest. Our Open Days drew in hundreds of families, and the overwhelming response to the Autumn Open Day, where all tickets sold out within 24 hours, exemplifies the community's engagement.

Looking Ahead

Looking forward, we are excited to continue expanding our offerings. We will also focus on furthering our corporate programmes and leveraging the Anderton Centre's unique location to create memorable experiences for both businesses and individuals. We are also looking forward in furthering the relationship with United Utilities and the local authorities and entities. Further to the above, our intention in to make Anderton as a destination for the Northwest outdoor activities as well as an international sports and education attraction.

In closing, I am grateful for the unwavering dedication of our Trustees, staff, volunteers, and community partners. Together, we have navigated challenges and emerged stronger. With continued collaboration and determination, I am confident that the Lancashire Outdoor Activities Initiative will achieve even greater success in the coming year.

Finally, I would like to thank David Germain for his services to the Centre and wish him the Board's and mine best wishes in his new endeavours.

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2025. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principle activites of the charity are:

- the provision of participation and learning opportunities for those who would not

normally take part in outdoor activities

- the provision of a co-ordinated approach to outdoor activities through working

with local and national organisations

- publicising what is happening in outdoor activities in Lancashire

- the provision of an information service about outdoor activities.

Public benefit

The trustees confirm they have referred to the Charity Commissions guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. On 27 March 2019, Lancashire Outdoor Activities Initiative became part of the University of Bolton Group. Following this the charity became an exempt charity on 8 September 2021.

STRATEGIC REPORT

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational structure

On 27 March 2019 the University of Bolton became the sole member of Lancashire Outdoor Activities Initiative and in turn became part of the The University of Bolton Group.

The appointment of trustees is in accordance with the Articles of Association.

None of the trustees has any beneficial interest in the company.

The trustees give their time freely and none received any remuneration or benefits during the year. The remuneration of the Chief Executive is set by the trustees and reviewed annually.

The Chief Executive is Jason Pendlebury.

Risk management policy

The trustees have a duty to assess the major risks to which the charity is exposed, in particular to the operations and finances of the charity and are satisfied that adequate systems are in place to mitigate our exposure to the major risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03539233 (England and Wales)

Registered Charity number

EXEMPT

Registered office

University of Bolton

Deane Road

Bolton

BL3 5AB

Trustees

T P Pledger

B L Lawton

A Matthaiou

G Westwater (resigned 14.2.25)

D J Thurston

A R Unsworth

A Traianos

Dr A J Keating

Auditors

ma2 Limited

Chartered Accountants and Statutory Auditor

5 Crescent East

Thornton Cleveleys

Lancashire

FY5 3LJ

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Lancashire Outdoor Activities Initiative for the purposes of company law) are responsible for preparing the 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. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charities SORP;

-	make judgements and estimates that are reasonable and prudent;

-	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 which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, ma2 Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 21 April 2026 and signed on the board's behalf by:

A Matthaiou - Trustee

Opinion

We have audited the financial statements of Lancashire Outdoor Activities Initiative (the 'charitable company') for the year ended 31 July 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 July 2025 and of its incoming resources and application of resources, including 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's 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 charitable company'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 trustees 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 Report of the Independent Auditors 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 required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters 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 Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees has 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 charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

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 trustees

As explained more fully in the Statement of Trustees' Responsibilities, 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 the trustees 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 charitable company's 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 charitable company 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 a Report of the Independent Auditors 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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.Our approach to identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations is as follows:

As part of an audit in accordance with ISA's, we exercise professional judgement and maintain professional scepticism throughout. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or,if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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 charitable company's members those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Anthony Mills (Senior Statutory Auditor)

for and on behalf of ma2 Limited

Chartered Accountants and Statutory Auditor

5 Crescent East

Thornton Cleveleys

Lancashire

FY5 3LJ

22 April 2026

2025

2024

Unrestricted

Restricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

79,962

14,437

94,399

106,959

Charitable activities

4

Training courses

1,317,213

-

1,317,213

1,314,841

Investment income

3

2,712

-

2,712

1,057

Other income

5

18,680

-

18,680

28,752

Total

1,418,567

14,437

1,433,004

1,451,609

EXPENDITURE ON

Raising funds

Other trading activities

6

32,512

-

32,512

38,098

32,512

-

32,512

38,098

Charitable activities

7

Training courses

-

327,397

Support Costs

322,637

-

322,637

-

Other

1,102,096

28,515

1,130,611

1,012,777

Total

1,457,245

28,515

1,485,760

1,378,272

NET INCOME/(EXPENDITURE)

(38,678

)

(14,078

)

(52,756

)

73,337

RECONCILIATION OF FUNDS

Total funds brought forward

324,813

25,316

350,129

276,792

TOTAL FUNDS CARRIED FORWARD

286,135

11,238

297,373

350,129

2025

2024

Unrestricted

Restricted

Total

fund

funds

Notes

£

FIXED ASSETS

Tangible assets

13

164,597

-

164,597

199,136

Investments

14

1

-

1

164,598

-

164,598

199,137

CURRENT ASSETS

Stocks

15

5,596

-

5,596

6,433

Debtors

16

185,107

-

185,107

211,102

Cash at bank

274,346

11,238

285,584

259,079

465,049

11,238

476,287

476,614

CREDITORS

Amounts falling due within one year

17

(343,512

)

-

(343,512

)

(325,622

)

NET CURRENT ASSETS

121,537

11,238

132,775

150,992

TOTAL ASSETS LESS CURRENT

LIABILITIES

286,135

11,238

297,373

350,129

NET ASSETS

286,135

11,238

297,373

350,129

FUNDS

19

Unrestricted funds

286,135

324,813

Restricted funds:

Restricted Asset Fund

11,238

25,316

TOTAL FUNDS

297,373

350,129

The financial statements were approved by the Board of Trustees and authorised for issue on 21 April 2026 and were signed on its behalf by:

A Matthaiou - Trustee

Cash flows from operating activities

Cash generated from operations

1

23,831

123,187

Interest paid

(1,038

)

(967

)

Net cash provided by operating activities

22,793

122,220

Cash flows from investing activities

Sale of intangible fixed assets

(934

)

-

Sale of tangible fixed assets

1,934

-

Interest received

2,712

1,057

Net cash provided by investing activities

3,712

1,057

Change in cash and cash equivalents

in the reporting period

26,505

123,277

Cash and cash equivalents at the

beginning of the reporting period

259,079

135,802

Cash and cash equivalents at the end

of the reporting period

285,584

259,079

1.	RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025

2024

£

Net (expenditure)/income for the reporting period (as per the

Statement of Financial Activities)

(52,756

)

73,337

Adjustments for:

Depreciation charges

32,605

41,330

Loss on disposal of fixed assets

934

-

Interest received

(2,712

)

(1,057

)

Interest paid

1,038

967

Decrease/(increase) in stocks

837

(575

)

Decrease in debtors

25,994

27,956

Increase/(decrease) in creditors

17,891

(18,771

)

Net cash provided by operations

23,831

123,187

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.24

Cash flow

At 31.7.25

£

Net cash

Cash at bank

259,079

26,505

285,584

259,079

26,505

285,584

Total

259,079

26,505

285,584

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The presentation currency of the financial statements is the Pound Sterling (£).

Preparation of consolidated financial statements

The financial statements contain information about Lancashire Outdoor Activities Initiative as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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 resources.

Grants and other income

•Grants are included in the Statement of Financial Activities on a receivable basis. The balance of

income received for specific purposes but not expended during the period is shown in the relevant fund

on the balance sheet. Where income received in advance of meeting any performance-related

conditions there is not unconditional entitlement to the income and its recognition is deferred and

included in creditors as deferred income until the performance- related conditions are met. Where

entitlement occurs before income received, the income is accrued.

Capital grants are recognised when there is entitlement and are not deferred over the life of the asset in

which they are expended, Unspent amount of Capital grant are reflected in the balance sheet in the

restricted fixed asset fund.

Other income, is recognised in the period it is receivable and to the extent the goods have been

provided or on completion of the service.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance and Over 20 years

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

Financial instruments are recognised when the charity becomes party to the contractual provisions of the instrument. Basic financial assets, which include stocks, debtors, group borrowings, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, group borrowings and accruals, are initially recorded at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

2.	DONATIONS AND LEGACIES

2025

2024

£

Donations

10,502

51,500

Grants

83,897

55,459

94,399

106,959

Grants received, included in the above, are as follows:

2025

2024

£

Bolton Together Fund

550

-

Other grants

22,300

5,094

National Lottery

2,440

20,000

UK Youth

34,720

-

Hansa Dock

-

13,665

Bolton Council

-

16,700

Ground Work

1,000

-

British Canoeing

2,500

-

Alpkit Foundation

200

-

Chorley Council

5,000

-

Go North West Limited

500

-

Bolton Fund Partnership Fund

9,687

-

Trustees of the Bruse Wake

5,000

-

83,897

55,459

3.	INVESTMENT INCOME

2025

2024

£

Deposit account interest

2,712

1,057

4.	INCOME FROM CHARITABLE ACTIVITIES

2025

2024

Activity

£

Training courses

1,317,213

1,314,841

5.	OTHER INCOME

2025

2024

£

Renewable Heat Incentive

13,896

17,506

Other income

4,784

11,246

18,680

28,752

6.	OTHER TRADING ACTIVITIES

2025

2024

£

Other operating leases

32,512

38,098

7.	CHARITABLE ACTIVITIES COSTS

Support

costs (see

note 8)

£

Support Costs

322,637

8.	SUPPORT COSTS

Information

Governance

Management

Finance

technology

costs

Totals

£

Support Costs

176,934

2,405

104,302

38,996

322,637

9.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

£

Auditors' remuneration

5,500

5,350

Depreciation - owned assets

32,605

41,331

Other operating leases

32,512

38,098

Deficit on disposal of fixed assets

934

-

10.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024.

Trustees' expenses

No expenses were paid to the Trustees in this or the previous year.

11.	STAFF COSTS

2025

2024

£

Wages and salaries

855,162

770,341

Other pension costs

24,995

20,554

880,157

790,895

The average monthly number of employees during the year was as follows:

2025

2024

Management

9

7

Contracted

23

26

Casual

8

17

40

50

No employees received emoluments in excess of £60,000.

12.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

89,294

17,665

106,959

Charitable activities

Training courses

1,314,841

-

1,314,841

Investment income

1,057

-

1,057

Other income

28,752

-

28,752

Total

1,433,944

17,665

1,451,609

EXPENDITURE ON

Raising funds

Other trading activities

38,098

-

38,098

-

38,098

Charitable activities

Training courses

327,397

-

327,397

Other

1,003,030

9,747

1,012,777

Total

1,368,525

9,747

1,378,272

NET INCOME

65,419

7,918

73,337

RECONCILIATION OF FUNDS

Total funds brought forward

259,394

17,398

276,792

TOTAL FUNDS CARRIED FORWARD

324,813

25,316

350,129

13.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1 August 2024

394,327

56,633

20,398

471,358

Disposals

-

(5,000

)

(5,000

)

At 31 July 2025

394,327

56,633

15,398

466,358

DEPRECIATION

At 1 August 2024

213,952

40,799

17,471

272,222

Charge for year

28,267

3,958

380

32,605

Eliminated on disposal

-

(3,066

)

(3,066

)

At 31 July 2025

242,219

44,757

14,785

301,761

NET BOOK VALUE

At 31 July 2025

152,108

11,876

613

164,597

At 31 July 2024

180,375

15,834

2,927

199,136

14.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

MARKET VALUE

At 1 August 2024 and 31 July 2025

1

NET BOOK VALUE

At 31 July 2025

1

At 31 July 2024

1

There were no investment assets outside the UK.

15.

STOCKS

2025

2024

£

Catering stock

5,596

6,433

16.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

129,044

122,727

Anderton Centre-LOAI Ltd

37,775

73,933

Other debtors

-

433

Prepayments

18,288

14,009

185,107

211,102

17.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

38,656

40,041

Social security and other taxes

27,233

17,336

Pension

6,094

5,032

VAT

12,168

21,170

Payments on account

249,533

230,229

Accrued expenses

9,828

11,814

343,512

325,622

18.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

Within one year

12,124

29,708

Between one and five years

51,667

48,791

In more than five years

370,000

385,000

433,791

463,499

19.	MOVEMENT IN FUNDS

Net

movement

At

At 1.8.24

in funds

31.7.25

£

Unrestricted funds

General fund

324,813

(38,678

)

286,135

Restricted funds

19,528

(19,528

)

-

Restricted Asset Fund

5,788

5,450

11,238

25,316

(14,078

)

11,238

TOTAL FUNDS

350,129

(52,756

)

297,373

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

1,418,567

(1,457,245

)

(38,678

)

Restricted funds

10,737

(30,265

)

(19,528

)

Restricted Asset Fund

3,700

1,750

5,450

14,437

(28,515

)

(14,078

)

TOTAL FUNDS

1,433,004

(1,485,760

)

(52,756

)

Comparatives for movement in funds

Net

movement

At

At 1.8.23

in funds

31.7.24

£

Unrestricted funds

General fund

259,394

65,419

324,813

Restricted funds

1,863

(1,863

)

-

Restricted Asset Fund

15,535

9,781

25,316

17,398

7,918

25,316

TOTAL FUNDS

276,792

73,337

350,129

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

1,433,944

(1,368,525

)

65,419

Restricted funds

4,000

(5,863

)

(1,863

)

Restricted Asset Fund

13,665

(3,884

)

9,781

17,665

(9,747

)

7,918

TOTAL FUNDS

1,451,609

(1,378,272

)

73,337

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.8.23

in funds

31.7.25

£

Unrestricted funds

General fund

259,394

26,741

286,135

Restricted funds

1,863

(21,391

)

(19,528

)

Restricted Asset Fund

15,535

15,231

30,766

17,398

(6,160

)

11,238

TOTAL FUNDS

276,792

20,581

297,373

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

2,852,511

(2,825,770

)

26,741

Restricted funds

14,737

(36,128

)

(21,391

)

Restricted Asset Fund

17,365

(2,134

)

15,231

32,102

(38,262

)

(6,160

)

TOTAL FUNDS

2,884,613

(2,864,032

)

20,581

20.	ULTIMATE PARENT COMPANY

The ultimate parent undertaking is the University of Bolton, a charity with exempt status, registered in England and Wales.

The results of Lancashire Outdoor Activities Initiative are consolidated in the group accounts of the University of Bolton. These consolidated financial statements are available from its registered office, Deane Road, Bolton.

21.	RELATED PARTY DISCLOSURES

The entity owns all of the share capital of Anderton Centre - LOAI Limited, a company registered in England which operates from the Anderton Centre. During the year various expenses were shared and recharged on a fair apportionment basis. Any resultant balance outstanding between the two entities is shown in the relevant debtor/creditor note.