Charity Reglstratlon No. 1101348 company Regtstration No. 4934904 (England and Wales) NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 tc accounts . tax . legal financial planning
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 IUMITED BY GUARANTEED) CONTENTS Page Trustees, report statement of twsteo5' respSIbilitieS Independent audftors. pOrt 1(>13 Statement Offinan aetiwties 14 Con801idaled balance sheet 15 Charity balanca SI 16 Cash flow ststement 17 Notes to the acEourts 18-30
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 (LIMITED BY GUARANTEED} LEGAL AND ADMINISTRATIVE INFORMATION STATUS The Association is a charitable corllpany limited by guarantee incorporated on 16 October 2003 and registered as a charity on 5 January 2004. GOVERNING DOCUMENT The company was established under Memorandum and Articles which established the objects and powèrs of the charitable company. TheArticle5 were amended by General Meeting on 20 January 2021. COMPANY NUMBER 4934904 CHARITY NUMBER 1101348 REGISTERED OFFICEIOPERATING OFFICE 1* Floor 42-44 Bishopsgate LorKlon EC2n 4AH TRUSTEES: Mrs Katherine Kear MDPF, Chaimian Mrs Nicky Wylie, Vice Chairman Mrs Susan Castle Mrs Mala Williams Mrs Ann Harding Mr Peter Malhers Mrs Ell8n Meaking Mrs Philida INing lappoinled 05 October 2021} Mrs Linda Wales lappoinled 06 May 20221 CHIEF EXECUTIVE OFFICER: Mr Steven Lane FINANCE OFFICER: Mr Richard van der Graaf AUDITORS.. TC Group The Courtyard Shoreham Road Upper Beading West Sussex BN44 3TN BANKERS: National W6stminster Bank PO Box 282 216 Bishopsgale London EC2M 4QB FOUNDER PRESIDENTr. The lat8 Mrs Mary Pope OBE VMH NATIONAL PRESIDENT: Mr Michael Bowyer MBE UFE VICE-PRESIDENF Mr Robin Herb8rt CBE VMH
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 {LIMITED BY GUARANTEED) TRUSTEES. REPORT (INCORPORATING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2022 REPORT FROM THE CHAIR OF TRUSfEES IYS bèen a yearthat could be de9cdbed as a Yo-yo one. W&w9rg obviousty awara that Selling Osborne Hou8 was not neces8arity going to be quic* given il's unique thararter. svze and the Currènt dimate of change and wortd restrictions. What we were not anticipating was thè stop and start na[8 of inleTe5tsd parttes. However we aro dellghted lo say that thg sale Mpletd on June 24th 2022. This signals tha start of a new chapter in the Asso(aallon's history and now we can start to build and plan for the future, offering more guidance and support lo our cjubs and promoting the work of our membtsrs to th8 98n8ral public. Proceeds from the sale are rknv Invested with our chosen Inve5tsnent Manag6r, RathbonÈs PJ The ideal rented office space for the Assoaalion is just around the comer from osborne house and has been sourced to operate for a 5 yeartemi which will Allow the Board sufficiant time to map out our long temi plan. A8 th8 new Offi is $0 ciosg it means we can keep dl our valued Staff, and we welcome Layla Hil lo lh8 t&am. We 8re, as anAssoclatlon st511 In a good posmon thanks tothg t3r8ful and consldered 8dvic8 ofsteven as CEO, thankyou. Zoom meelings continue to keep tra] and accDmmodallon costs down, maintsin Serw as u8ual, and as lar as th8 budg&l Is concémad costs are kept lo a minimum. Our one faG8 to face National Advisory Council m¢¢ting early In the y¢ar was a good chance lo me81 and chat lrt 8 reI8xad envonment and it was a hance to re bon(L Our ntinUIng re$È8rch and work towards Ofqual recognitton continues. It Is a Compl #nd fjma consumlng process looking tM>lh at our syllabus cont$nt but also governance and flnandal structure. It will be woth it. Ofqual's raLwnttion is universal and will ensure the IDngevity of our educational posliion. IYS this that makes u8 unique. 11 will mak8 as stronger. more viabEe and appe8llng, especially to peuple wtsldo OurAsswa0. 'S about rnong wlh current trends. delivering valuè and ¢10n to all. We ntinue to reysgw our structure, tt's all ongoing process. f( will bring forth fruits overtime. Next year in May we have the fSrsl large eventwe've organlsed 8inee 2019. Tha National Show in Gloucester Cathedral. Itmrill ba a stsnd8lone show, not a Clone of prèvious shows ora tèmplate for following show8. We are tyjtting our doth lo fft, if we cannot budget for a certain Ihing we don't have r(1 We ¢anr1 assume Msitor numbers will be as pa81 y8ars so w8 must b8 reful yol creative. I would like to thank the 8taff team, our Slandln9 Commmees and Area Chairrnen for 811 I1r hard work durtng another drfficult year. My spwal thanks go to my fellow Trusfieeg, and 8 wami w8knme to Lynn Wales. who joined the Board in M8y and brings a wealth of bus]ness manag8m8nt expeTience. My thanks also to our National Prasidant. Michaèl Bovry•r MBE whosa contrfbulion and advice to the Board has been invaluable. Kath8rfne Kear MDPF National Chairman LrGJ
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 (LIMITED BY GUARANTEED) TRUSTEES, REPORT {INCORPORATING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2022 The Trustees present their report together wth the audited financial statements for the year ended 31 March 2022. The financial statements have been prepared in accordance with the Companies Act 2006, the Statement of Rewrnmended Practice- Accounting and Reporting by Charities {SORP FRS 1021, applicable law and the Charity's goveming document. The Charity pr8fers to be known by the acronym °NAFAS' and is a UK registered trademark no. 2109171. Structur Gcvem e and Mana The Tru5fres are also the Directors of the Company for the purpose of company law. The Charity is a charitable company limited by guarantee and without share capital. In the event of the Company being wound up the liability of each member is limited lo £10. It was incorporated on 16th October 2003. The purpose of ils lomation was lo acquire the assets and undartaking of N81ional Association of Flower Arrangement Societies, an unincorporated eharitable association first formed in 1959. 11 Is governed by Articles of Association and its objectives are to advance public education in the art ol flower arranging and related subjecls. The wembership of the Company is comprised of 21 unincorporated Area Association8 providing geographicAI representation throughout Ihe United Kingdom and represented at meetings through a single elected representative for each Area. A network of more than 900 flower clubs are affiliatèd lo IheArea asso¢iations and their members form the affiliated memb&r8hip of the Charity. The Votfng Members of Ihe Charity are made up ol the 21 current Area Representstives and the current Tfustees. Th& National Officers are appoint by the Board and comprise the Chair of Tmstees and the Vice-chairman. There shall be a minimum of 7 Trustees and a maximum of10 Trustees. A minimum 015 Trustees to be elected by the voting members, additional Trusleos can be appointed by the Board. The National President is a non-executive appointment s&lacted by a panel. Life Vice-Presidents are appointed in recognition of outstanding service. The daY-ldaY managem8nl of the Charity is the rosponsibilily of th8 Chi8f Executive Officer. SalaTies of ?11 staff are roviewed annually by th8 Board of Trustees. The Trustees. as stsled on page 3, are eligibf8 to serye terms ofthree years. The Board meets monthly Ivirtually) and receives quarterly reports from the Charity's Stsnding Committees, who administer th8 operation of each facel of the Charity's objecb"ves. On8 Trustee attends each meeting of the Standing Committ88s to 8nsure continuity within the rÈporting press. The Board ofTrustees tske direct responsibility for the management of th8 assets and liabilities. Financial management itKluding conlroi and monilgring of budgets, is overseen by the Finane8 SLJb Comrnittee. The National Advisory Council meets 4 ts'mos a year and compris&s a single representstive from eaGh of the 21 Area Associations. They repres8nl the affiliated membefs and act as an advisory body and as a forum for the exchange of views and information betW8en the Board ofTwsloes and the affiliated membérs. Tr tees Induction d Trainin NewTruslees are invlted and èncouraged lo attend training COLJrses and seminars in order to briefthem on their legal obligations. They are also introduced to the Chaty Commission's own booklets and infomiation bulletin$. Funds are availablè to facilitate Trustee training in undertaking their role. Subsidia Com The Charity's w)llY owned subsidiary, NAFAS Enlerprlses Limited Iwmpany No. 18290111, undertakes fundraising through the publishing and sal6 of books, leaflets and booklets relating to flower arranging and the publication of The FlowerArranger magazine. Profits are transferr8d lo the Charity through Gift Ard. The Board of DireGtor5 comprises the National Chaimian and two other Trustees of the Charity.
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES
2003
ILIMITED BY GUARANTEED)
TRUSTEES. REPORT (INCORPORATING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2022
Charftabk Ob.
ectives a
d Actlvlues
The CharSty 18 88tablished to..
Advance public educ8tion in the art of flowtrr arranglng and rel8ted subjécts
Further any other chamtable purpos6 or purposes
The charity's Actmlles arÈ:
AdmlnSstratlon of NAFAS Courses in Floral Art & Deslgn
Attendlng and exhlblting at major shows and ffloral eventÈ
ANational Showwh•Tè afflllaled members m3y enter competholl8 and where both member$ 8nd 1h8 general
public may enjoy thè )loral attangements exhibited
Training and assessmènts ofjudges, demonslratots and speakers
Encourdgemènt to affiliated clubs to develop their Memberships
NAFAS Mi
sion and valuè
The nÉw Vlsion, Mission and Values were adopted In 2021 by the Board. A Strat8gy Team had been W up to
pecifically rewew an
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 ILIMITED BY GUARANTEED) TRUSTEES, REPORT {INCORPORATING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2022 Publi¢ Benefit In establishing the annual obSeclives and aetivlties which fulfil NAFAS overall alms, the Trustees have regard lo the principles of public benèfit al all times. The TruslÈes are aware of and have received copies of the Charty Commission's guidance regarding Public Benefit and have taken il into account, where relevant, in their planning and decision making. The Objeets set OLrt clearfy that the Charity is established lo advance public education in the art of fl¢)wer arranging and lo further any other charitable purpose. It operatss throughout the whole of the United Kingdom and strives to attract members from all age groups and ethnic backgrounds. The Association's exhibits al major floral and horticultural shows, induding rts own National Show, are seen and enjoyed by large numbers of the general public. The Trustee8 are conscious that many of 11$ affiliated members are elderfy with Some on low or fixed incomes. Although each club is 8Utonomou8 Wth the ability lo sel ils own membership fees, the affiliation fee to the Charity (which forms part of this) has been maintairTed al £6.10 since 2019 for each individual member through their dub. While il is the Board's intention lo continue small annual incremental Increa$, il was decided not to inerease the offi1i*ion fee in this financial y&ar dLJe to the impact of Coronavirus. The AssocAalion also provides direct membership at a cost of £45 per annum which includes a subscription to ils quarterly magazine, The FlowerArranger. The cost of direct membership also remains the same until such time as it is deemed appropriate to increase. The Trustees lake Its eommitmenl to public benefit extremely seriously, examplified by the fact that the affiliation fee remains very low not wishing lo exclude any member on economic grounds. The Trustees believe that enty fees lo shows and events and affiliation fees lo members are set al such a low level as to ensure that all members of the public ¢an afford them and thefore benefit from full enjoyment of the Charity's semces The affiliated Flower Clubs play an important role in raising money for other charities. The Charity's members alld the Area Associations. provide servi$ to the general public too numerous to mention fully bul include workshops where th& public are invited to try their own skills al flower arranging, similar workshops for school parties and thildren wth Special needs, assistance lo local ¢hurch6S to hold flower festivals lo encourag8 the public to support their local communities and floral demonstrations al flower shows and events throughout the year. Risk Man8 ement Historically the risks idenlifie(I by the Charity have been restricted to contractual obligations related to the National Show and other events. The Coronavirus, which began to have significant effects in the UK from late February 2020, has enhanced problems that the Tnjstees were previously 8W8re of and ¢ated new risks to the Charity. Fbower Clubs reopened during the year and gradually started lo hold club and 8rea events. Risks include". Club closures, several dubs will not reopen for various reasons including: Mgmbers unwilling lo attend club meetings again Difficulty attracting members tc sil on the club committss Ageing membership Difficulty in attracting new younger members Increasin9 Costs of premises and flowers Closure of village and community halls where our clubs have met previously Adecline in membership due lo club closures. A raluctsnce by members to travel. This will affect attendance at Area and National events. A drop in sales of trading goods and educational handbooks due lo Coronaviru5. Although we are seeing a Slow recovery. Club closures resulted in a drop in affiliation fee5.
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 IUMITED BY GUARANTEED) TRUSTEES. REPORT (INCORPORATING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2022 Evaluation of risk 18 conslantty under wiew. Financial risks are managed by.. M8intènanc• of reserves to be financialty resilient. Regular consultation with the Charity's financi31, legal an¢J other professionol advisers. Intsmal rtsk controls are In pT8ce basèd upon dual authorisation of financlal transact1017s. Employee and Third-P¥rty Fraud insurBn¢e ¢oveT is also in force. The TN51ees conSiderth a $uil8ble balance is maintsln8d betren the level of rfsk and Ihe effèctivene88 of controls. ments and Performance We wlll contlnue to presenl ourAGM vlrtually as thls attracts a larger audience ¢omp8Ted to a plryslcal Meeng and allows access lo the proce?dings to al our, momber$hlp. The 2021 AGM attracted over 1.800 vlews. The Board of Trustees agreed to re1Mea the fuel alk)wanc8 at 45p per mlle. In line with HMRC. NAFAS Stsndi NaitronalJudges Commiltee Joan Magèe. Chaiman The Commrfteè have judged 8 s8rf8s of vlrtual shows during the year. Started thjring the pandemlc, vlrtual $h¢)ws have continued into 21f22 but 11 n¢M be ph¥$e(J out as d and ar88s rètum to thr norrnal actwities. Numbers are low for the NaOal Tests, Sh just 7 potenliaS candidatss putting their n8m8s forward forth8 222 test8. A Judgès conf8r8nrE Is beitry planned for August 2023 In DromanlTne, Northem Ireland. The committee are revising the ComrRtions Manual, which wlll be rgatly fw publi(3tion later in 2022. The Nallonal Show 2023, to be held al Gloucester Cathedral. Is now a maln focusfor the Judges Commtitoa. A meetiTh3 of AdjudicatOTS & Instructors took pla( viriually in February 2()22 almost full attendance. Follomng dls¢u*on, it was agreed the allocation of Mark3 for Judges Tests need8 lo be rleWed. Corrmittee lo liaisewilh AdlU¢JSr$. Itwas agreed th¢ fee IoTTralnee AdludScators should Temaln al £30.00 Most Areas offer accommodaUon when required and hospitality. Natmal D Elizabeth Grsham, ChaIn0 A successful virtual Adludlcators and Instructors Day was held Sn September 2021 Tranin9 and Testing took pla in the followlng Areas.. South Wast, NIGFAS. SAFAS, Wessex & Jersey, North Midlands, Mercia & North W¥le8 and East of England (holding rÉfrèshèr day) The cclmmhtee revlewed thè guggested Fl0warAltaftcè and incr•as8d the amount to £150.00- Clting Brexit and Coronavirus as the maln cause of increased pri¢es. A successful Demonstrators Symwsium look pla in AF¥il 2022 8t th8 Tèlford Hot81 & Golf Resort attgnd¢d by over 50 attendees. Delegates returned home, refresh&J. Inspired, rekindle(I friendships, and took wth them a few samples Atthe Symposlum a Nattonal DemStrator undertook a total ec¥)-friendly demon8tration, but there is a lot ol work required behind thè sthÈmès. howèvèr 8vèryon8 was Insplred gnd Can tske smdl patts fon¥a Into their own demonstrations Pre-Nallonal Asse8$ments 8nd National arn boing plannad for March 23 Three naw m8mb8rs VAII loln th8 commlttee In Octc&er 2022 An Area Reps Day toc4( place in June 2022
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 (LIMITED BY GUARANTEED) TRUSTEES, REPORT {INCORPORATING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2022 al S e&keis omm Brenda Eyers, Chaiiman In 2021 the Speakers Conlribution to the Virtual National Show gained 1.831 view8. Kent Floral Art had two certified virtual training dates and an Area and Mock Test are planned_ An Adjudicators and Instructors day was held in September 2021. 1 81 Edutt8tion Com Susie Barwck, Chaifman The Ofqual application is continuing, and regular updates are shared wth th8 Board 7 Qualified T8ach8rs ware approved lo join the National Lists deo Tutorials were prepared for the NAFAS Virtual Show 2021 Over 100 copies of the Basic Teaching Course have been sold The committee continue lo review publKations'. Miniatsjre & P81ites and Church Flowers 11 be tle1 Flowers in Worship lo incorporate other faiths Perigd Flower Arranging publication revised, printed and in stock Leisure Class Inttialive document is being updated A Tutors & Moderators Day was held on 26th July 2022 Plans are being discussed Icx Teachers Conference in 2023 I Committee Kalh Slan aard Chai The covar price of The Flower Arranger magazine increased to £4.99, annual subscription lo club members will be increasing with effèct from sprfng 2023 issue lo £15.00 and annual individual subscriplions to £24.00 The Team attended Hampton Court Palace Flower Show to promote the magazine ArÈa pholoshoots have been held in the BB&O, Sussex and South Wesl areas Flower Show Wot* and Summer Floral notecards were added lo the trading portfolio For 2022 an additional designs of Christmas cards will ba available Each NAFAS area has been provided with a banner and tablecloth to use * t1r Area sh¢)WS to advertise the magazine An AFAO meeting was held in November 2021 V I teer involvement The Charity relies on the suPrt of its members who give many thousands of hours voluntarily to assist in the provision of services and activities. It is impossible to put a value on this support for which the Charity is very grateful and wthout which much ofthe work undertaken could not be achieved. The Trustee8 appoint functional ar¢d advistsry committees, eomposed of experienced volunteer5 to assist in Carrying out the work of the Charity. Fundraisin The Charity does not actively undertake any fundraising directly from the general public. Membershi Following the pandemic. clubs slowly started reopening and m@mb8rs return8d with som8 apprehension. At the end ol December 2021. we recorded 28,659 members, howev8r we are aware that some clubs did not collect fees for the enb.re 12 Month period and we wll have lo wail until December 2022, when il is expected that all our dubs will be open again, before we can accurately report on the full impact of the pandemic on the Assoall0n. on we are back to 'normal' there will b8 a great deal of work to do to in attracting new m8mb8rs, supporting our dub$, particularly those in deprived areas. Ageing membership. changing lifestyles and rising costs are common
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 {LIMITED BY GUARANTEED) TRUSTEES. REPORT (INCORPORATING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2022 problems facln9 8 number of charitBble organlsatlons. yet NAFAS, remains on& of the be$1 supported membershlp organlsations in the UK Future Plannin Up to the sale of 08borne House. the charfty wa¥ working to a cash tlow forecast. Now the 8ale is complèt• w• can start lo plan ahèad. Once established into the new office. we wlll introduce a new bvdget to year end March 2023. Thls wlll be accompanled with • 3 year Businèss Plan and Strategy. Tho charity I11 Inv8st In a new databa8e to gather informalon aboulthe rnertjership and ensure we remain compliant wlth our dats. ITwestm8nt wll akso be made into a new online digilal booklng 5eNKe for our4reas and clubs. The ArtTcles of Assoclatlon aulhorise the investment of the Company's fvnd$ or any part thereof in the PUTchase of such stocks, $h8res, seujrities or other Investment or property of whatsoever nature Tru$teE5, rnay In Iheir absolute discretSon deddB. All investments Bre held in accordance with these powers. The Trustse5 do not hgv? specific target Telurn$ on Investment income amhough generalty. Ihey exped invèstment p•rfomianc• to r8fiect movement in the London Stock Exchange indi¢trs. Financial Review At the ènd of the finan¢kl year, the Assoclalion recorded a deficit of £.940,thIS )MpAr@S lo th8 prouS years surplus of £31,999. The main contributing f8ctor is the decllne In affiliation fees, due to c4ubs 8111 recoverfng from the pandemlc and some members apprehensfve about retuming to the club environmonL A loan of £150K was tak•n out In 2020 under the Government backed Coron8vlrus Busine$$ Intemjption Loan Stheme, repayments of£2.5(X) per month, stsrted in September2021. The loan has been Seed in full, followlng the sale of Osbome House. Group Income Consolidated income decreased by fjS% to £438,015 Group Expendfjre Consolillateil expenditurn Incrèasad by 8% to £523.955 Entér rtses radin Su Tumover decreas8d by to £239,227. Cost of sales and 8dmini$tratWa eXP8nses lnuad by 8% to £239,508. Loss for the yearwas £281 Versus £36,720 proffl In 2021. Th8 rnsults forthe year ended 31 March 2022 are shown In this summary of Income and expendtture.. 2022 2021 Net movewnenl in funds Unrestricted funds Désignated funds Reslricted funds 188,3191 2,379 28.81 D 12.911) 6.100 185,9401 31,999
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 (LIMITED BY GUARANTEED} TRUSTEES. REPORT (INCORPORATING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 MARCH 2022 An analy3is of funds Is given un(tsr notè 20. Th8 maintenanEg of ade4uat& re5eNès und8rpins the Tnkn8' Risk Managerngnt pollcy as a countsi against rfsks entified in th9 rggular Risk Review. In vi8w of the genero1 historical liabi5ity ol the Charity's incomè straams, the Trustegs ¢On5ider that the Charity's general reserv8, excluding fixed assets but induding the v4ue of mart(&table inveslrnents. Shou be maintsinéd ata levd sufficientlo cov6rsix months charitable operations expènditure and governan¢% wsls. At 31" March 2022 the level of fr88 resarv8S Stands al £53.33012021. £28,100). Suljsidi kin NAFAS Enterprises Limrtéd Is a wholly wned 8LJbsidiary. It undertakts all trading activities and transfers the whole of Its profit to the Chanty by gift aid. Due to a changè in accounting Nl¢$, the git aK1 payabla is not recorded as liability in the8$ aunIs. Accountin9 pdicigs a dlsdosed on p898s 20 to 22 of the ffnancial statements. A sOLUtiOn proposino Ihe apptsintsnant of Auditors to the Charity will be put to theAnnual Goneral M88ts"ThJ. Thè Trustees. Report was approvèd by the Tru8tee8' on September 2022 BY ORDER OF THE BOARD Kalhering Kear MDPF National Chaimia
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIEITIES 2003 {LIMITED BY GUARANTEED) STATEMENT OF TRUSTEES, RESPONSIBILITIES Thg trustees, are also the directors of National Association of Flower Arrangement Societies 2003 for the purpose of ¢ompany law. are responsible for preparing the Trustees. Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Apted Accounting Practice). Company law T8quires the trustees to prepare accounts for each financial year which give a true and fair view of the slate of affairs of the group and of the incoming resources and application of resources, including the income ar¢d expenditure, of th& charitable company lor that year. In preparing these accounts, the trustees are required to.. - select Suitable accounting policies and then apply them consistenlly,. - observe the methods and principl8s in the Charities SORP., make ludgaments and estimates that are reasonable and piudent,. and - prepare the accounts on the goin9 ¢cCern basis unles8 It18 inappropriate to presume Ihatthe charity will contnue in operation. The Iruslees are responsible for keeping adequate accounb.ng records that disc10s6 wlh reasonable accuracy al any time the financial position of the charity and enable them to ensure that the accounts comply wlh the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preverrtion and detection of fraud and other irregularities. The trustees ar8 responsible for the maintenance and integrity of the group and financial information included on the charity's website in accordance with legislation in the United Kingdom governing the preparation ar diss8minats.on of financial stslemenl8.
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 ILIMITED BY GUARANTEED} INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 Oplnlon Wè have audited the financial ststemenls of National Associath"on of Flower Affangement socieb.es 2003 Ilhe 'charilable company'l for the year ended 31 March 2022 on pages 14 10 30. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporbng Standard 102 The Financial Reporting Slandard applicab18 in th8 UK and Rèpubl of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the finanGial stalemenl$'. give a true and fair view of the state ofthe group's and the parent charitable company's affair$ ?s at 31 March 2022 and of ils incoming resources and application of resources. Including ils income and expenditure, ftx the year then ended., have been properly prepared in accordance with United lQ"ngdom Generally Accepted Accounting Practice; and have been prepared In act¢xdance wth the requirements of the Companies Act 2006. Basis tor oplnlon We conducted our audit in accordance wth Intemational Sfandards on Auditing IUKI IISAS {UKII and applicable law. Our responsibilities under those standards are further described in the Auditor's resp)nsibilities for the audit Df the financial staternenls section of our report. We are independent of the group and charitable company in accordance th the ethical requirements that a relevant to our audit of the financial ststemerrt5 in the UK. including the FRC'S Ethical Standard, and we have fuffillod our Dther elhiBal responsibilities in accordance with these requiremgnts, We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opini*. Conelusions relatlng to going concern We have nothing lo report in respect of the following mattèrs in relation to which the ISAS IUKI require us lo report to you where-. the trustees, use of tr)e going concem basis of accounting in the preparation of the financial statement5 15 not appropriate., or the trustees havè not disclosed in the financial statements any identified material uncertainties that may cast significant doubl about the charitable company's ability to continue to adopt the going Concern basis of accounting for a period of at least bNelve months trom the dale when the financial statements are aulhorised for issue. Other Infonnation The trustees are responsible for the other infomiation. The other information comprises the information included in the twslees, 8nnual report, other than the financial ststements and our auditols report Ihereon. Our opinion on the financial slat8menls does not cover the other infom)ation and, except to the extent otherwise explicrtly slated in our reporL we do not expTess any fom of assurance Conclusion thereon. 10
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 (LIMITED BY GUARANTEED) INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 In connectlonwllh ouraudR of the financial staternents, our responsibility is to read the othwirrformation and, in doing so, conslder whether the other infomation is m8t•rfally Inconsfstent wllh the financAal statements or our knNlpdgg obtained In the audlt or utheTwlse appears to be MateallY mlsstsled. If we idèntfy 8ueh material InCnSiSteneS or apparent material misstatements, we arg roqulred to detsrmine whether there TS a material rnlsstaternem in the finaneiaS statements or a mat8rtal misstatement of the other information. If, b8sed on tho work we have perfom)ed, we wnclude Ihal there is a material mi8Stat8merrt of this othw infomation, wa ¥8 r8qulr•d to Trport that fact. We have thg lo rewrt in Il¥s regar(l. Oplnlons on other matters pre8cribed by thg Companles Act 2006 In our oplnion, based on the wort undertaken in the cwrso oftho aua6L' Ihe irrfomalion given in the ITUStees' report (IncorpLW8ting the direthrs, pOrt) forthèfinand81 yearforwhl the finandal sl¥tern¢nts arp prEpared is consistent with the finanaal statements- and the Irusleg5' report lincorporaung the ¢JSredors' rtI has been prepared In acLordance wllh appllcatAe legal requlrernents. Matters on whl¢h we ar rnqulred to report by exceptlon In the Ilght of OUT kntsedge arKI understandTrwJ of the wup and chafftable company and rts environment obtained in th8 course of the audit. we have not identrfied rnalerial misslalem8nt8 in the director8, report. We have nothing to rert In Yespect ofthe following matters in relation to which the Compenles Act 2006 requlros us to report lo you If, in our opinlon.. adequate accounl.ng records have not been kept, or retums ade4uale for our audTt hgve not b99n r8¢8Ned from branches not by us., or the financial 8tatomenl¥ are not in agre8m8nt vrith the accounting racords and r8tums,' or certaln d18do8ure8 of dir¢ctots' MUneraOn spectfied by law are not made.. or we have not receNed all the wftjmation and exanatIonS we requlre for our autht. RpOlbilléS of trust••s As expldned rnE fLrlty in the trust, responsibilities statement set out on page 4, the trustees (who are also the dir8Cto¥s of the charitable cornpany for the purpose5 of rnPany law) are resFn51IAp for the prEparation of the flnan<xal gtaternénts Jd for bÈing satisfi1 that thèy gN8 a truo and fair vlew, and for such intemal control as the trustees detemiine is necessary lo enable th8 preparation of finan81 ststements th* fTte Irom m8tarlal misstalemenl, whether due lo fraud or error. In preparlng the Ilnanclal statements, the trustses are responsible for 88s88sing the ¢h8rilable company's ability lo ntinue as a goln9 nCern. dlsdoslng. as appllcable, matters related to going conrn and using Ihe going con¢em basls of accounting unles5 the Iru8lees either interKI lo liquldate the thgrltable company or to cease OperatIc$, have no realistic altemative but to do so. li
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 ILIMITED BY GUARANTEED} INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 Audltorfs responslblllt198 for tho audlt of the flnanclal statemgnts Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material mi$statement, whether due to fraud or effor, and to issue an auditor s report that includes our opinion. Reasonable a88urance is a high level of assurance, but is not a guarant* that an audit conducted in accordance with ISAS (UK) wll atways delecl a material mis51aternenl when it exists. Misstatements can arise from fraud or error and are consided material if, individually or in the aggregate, they could reasonably be expected lo influence the econ¢mi¢ dlS1On$ of users taken on the basis of these financlal statements, A further description of our rasponsibilits8s forthe audit of the financial stalem8nls is locat8d on the Financial Reporting Council's website https..Ilbw.frC.Drg.uk1oUr-workIAudlVAUdkl-and-asSurance1Standards-and-gUIdanGe]st8ndafd$- and-guidance-for-audrtorslAuditors-responsibilitiÈs-for4udiVDescllplion-of4uditors-r8sponsibilitles-for-audit.aspx. This description fomis part of our auditof s report. Ext•nt to whlch the audlt was considered capable of detecting irregularities, in¢ludlng fraud The trbjertives of our audit, in respect lo fraud, are.. lo identify and assess tho risks of material misstslemenl of the financial statements due lo fraud., lo obtsin sufficient appropriate audit evidence regarding the assessed risks of material misslalement due to fraud. through designing and implementing appropriate responses, and lo respond appropriately lo fraud or suspected fraud identified during the audit. Howevef, the primary responsibility for the prevenb.on and detection of fraud Tests with bolh th)se Charged with govemance of the entity and its management. Our approach was 88 follows.. We identified areas of laws anQ regulations that could rea8tsnaLly be expected to have 8 material effect on the financial statements from our general sector experience, and through discLJssion with the trustees, directors and other management las required by auditing standards), ond di$cussed with the trustees. ireclors and other management the policies and procedures regarding GL)rnpli8n¢e with laws and regulations (see below), We identified the following areas as those most likely to have such an effect." health and safety.. General Data Protection Regulation IGDPR), fraud", bribery and Corruption", and employment law. Auditing slandards limit the required audit proceéures 19 identify non-compliance wlh these laws and regul?tions lo enquiry of the trustees. directors and other management and inspection of regulatory and legal correspondence, if any. The identrfied actual or suspected non-compliance was not sufficiently significant to our audit to result in our response being identified as a key audit matter. We ¢onsider6d the legal and regulatory frameworks directly applicable to the financial statements reporting fraMOrk IFRS 102, the Companies Act 2006 and the Charrties Act 2011) and the relevant lax compliance regulations in the UK., We considered the nature of the charity and group's operations, the c¢xtrol 8nvironment and financial perfomiance. We cornmuni¢ated id&nlified18ws and regulation5 throughout our team and remained alert to any indications of non-compliance throughout the audit,. 12
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 (LIMITED BYGUARANTEEDI INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 We con8ideTed Ihg proceilure8 8nd controls IhÈt the thaTity Bnd group has establlshed to address risks Idèntified. or that otheise prevent, deter and detect fraud.. 8nd how 8enior managemènt monitors those pro9ramm8s and controls. Basetl on this understanding w& deslgned our aud6t proc¢du$ to identify non-CLimpliane8 wtth such laws and Tegulation5. Where the risk condered to be higher, we perfom)ed audlt prOdureS lo address Èach idÉntifi8d frdud risk. Thése procedures induded.. testing manual loumals.. reviewng the fiar1 statement disdosures and testlng to supporting dorAJmen18tion'. yirfoming analyticAI proc8dur8s'. and enquiring of management, and were deslgned lo provide reasonable assurance that the finandal 8laternents were freè from fraud or •rror. Ing lo the inherent limttations of8n 8udM, thér8 Is an unavoldable risk Ihatwe may not havedetedpd somp material rnisstatements in the finanrAal stslements, even though w8 hav8 properfy planned and performed our audit in aC(xjrdan with auditing $tandards. For example. the further removed non-¢ompliant wtth laws and regulatlons (irregularftiesl Is from the events and transactic3 refected In the fingndal sloternents, the less likely the inherent Ilmrted procedures required by audthng $landard8 would id8nttfy it. Th8 rfsk Is a150 greater regarding irregularities ¢¢¢urring thJ¢ to fraud ¥ather than error, as fraud Invofves Intentlon conc&almènL fotgery, collusion, omlsslon or mtsrepresenlation. We are not r9sponsible prevenllNJ non-comp11are and canTh)I be expe¢iwJ to dètèct non- ¢omplian¢e wilh all laws and regulatfions. Use of our rpport This report is made solety to the cfTaritable tmpany8 members. 8s a tly, In aCCoanGe wlth Chapter 3 of Part 16 ofthe Companles A¢t 20[. Our audit work has been undertaken so that we might stale lo the charitable company's mèmbars those matters we are required lo slate to Ihern In an 8udilorf$ report and for no other pury)ose. To the fullest extènt MItt$d by law. we do not accept or assume responsibilty lo anyone olherth8n the charitab16 company aThJ Ihe charKae conwanys memr$ 8$ 8 tr*)dy. for ow audit wcrt. for Ihls report, or for the opinions we have fmed. cqr Mark Cummlns FCCA {Sènlor Statutory Al¢Or) for and on h&ll of TC Group statutory Auditor Offi¢e'. Steyning, West Sussex Dale.. 13
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022 G•n8ral Deslgnated fvnds funds Restrictsd funds Total 2022 Total 2021 Income from: Donations and legacies Charitable adivilies.. Affiliation & direcl membership fees Shows and assemblies Other trading aclivilies.. Trading income Investment incomo Other Notes 2,750 2.750 41.576 170,686 4.579 3.059 173.645 4,579 217,966 10 239.227 13 239,227 13 257,612 23 811 Total Income 434,956 3,059 438,015 517.988 Expenditure on: Raising fvjnds.. Costs of trading subsidiary Charitable activities.. Operations Totsl expenditure 10 239.508 239,$08 220,893 283 767 680 265 096 523 276 680 485 989 Net In¢omel(expendltUTel 185.9401 Transfers betsveen funds 21 Nel movement In funds (88,3191 2.379 185.9401 31,999 Fund balances 811 April 2021 1 437 395 6.100 1,472 326 1440.327 Fund balances at 31 March 2022 1 349 076 1386 386 1.472,326 14
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 CONSOLIDATED BALANCE SHEET AS A T 31 MARCH 2022 2022 2021 Notes FIx941 assets Tangibk assèt8 12 1,433 618 1.433.616 1,438,126 1.438.126 Current a•8ets Stocks Debtors Cash at bank and in hand 14 15 12,834 43,289 198,169 9,472 26,755 334.436 254,292 370.e63 Cr•ditorn: amounts falling due wlthln one year 16 {196,522) (203,9631 Nèt ¢urront aBs•ts 57.770 166.700 Creditor8'. amounts falllng dug oft¢r morn than ong yr 17 {105,0001 1132.50DI T¢)tal aets l•ss currènt lTrabilitleB 1.386.386 1,472,326 lrteomè funds Unreslricte£l funds." General funds Designated funds Rastricled fund$ 1,349.076 31.210 6,11)0 1,437,395 28,831 6,100 1.386,386 1,472,326 The88 acco(uts havg b8*n pr•p4red in aC0)rdan wtth the Sp9al prO¥10n$ lating to small companies within Part 15 01 th• CompartiÈi Ad 2. The accounts w ed by th8 Board o Sèpt8rnber 2022 Mrn Kath•rln• K•ar Ichalrmanl Compry Reglstration No. 49349M 15
NATIONALASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 CHARITY BALANCE SHEET AS A T31 AIARCH 2022 2022 2021 Fix•d assots Tangibl& ass&ts Invèsbments 12 13 1N33.616 1.438,126 1.433.620 1.438.130 Current as50t8 Deiit(xs Cash 8t bank and in hand 15 34439 162,238 50,985 26S,872 198,677 316,e57 Creditors: amounts lalllng du• wlthln on• yaar 16 1187.160) 1198,6831 Net current {llabllltles)la?ts 9.517 118.174 Crodltor¥: amounts lalllng due aft•r more than one year 17 {105.OIXII (132.5001 Total I¥ts Igsg current IlablllUg8 1,338.137 1,423,8Q4 Ineorn• fund$ Unr•strict8d funds". Gèneral tund8 Designated fvnds Re51ricknY fvnds 20 1,300,827 31,210 6,100 1,388,873 28,831 6,100 1.338,137 1,423,804 These 8cc¢)unts h8ve been prepared in aordance wf(h the special provisions relating lo ¥mall cornp&nies within Part 15 01 the Companies Act 2006. The accLJunts were prov9 lh¢ Board on 2" mt*r 2022 Mr8 Kathorlng Kgar Ichalrmanl Company Reglstratlon No. 4934904 16
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Note5 Cash flows from operatlng activltles: Net incomelexp8nditure for the year Deprgciation of tsngiblè fixed assets Interest from investments {Increase)Idecrease in stock Increaselldecreasel in creditors {Incréase>ldecrease in debtors (85.9401 7A65 1131 13.3621 {34,9421 (16.6341 31,999 7,336 123) 11,640) {82.183) 25,950 12 14 16 15 Net Cash provided byllused Inl operatlng activities 1133,326) (18.561) Cash flows from investlng activStles'. Interest from investments Bank loan rèceived Purchase of tsngibla fixed assets 13 23 150,000 18,074) 12 12,9541 Net cash provldèd byllused In Investing actlvltles {2.941) 141,949 Increasglldacreasel In cash (136.267) 123,388 Cash and cash equivalents at the beglnnlng of tho year 334.436 211,048 Cash and eash equlvalents at the •nd of th9 year 198.169 334,436 1 April 2021 Cashflow 31 March 2022 Cash at bank and in hand 334,436 1136,2681 198.169 17
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 Statutory information National Association of Flower Arrangement Societies 23 INAFASI is a charitable company, limited by guarantee, registered in England and Wales. The ettaritable company's règisterèd number and registered office address can be found on the Legal and Administrative Information pa9e. Accountlng pollclgs 2.1 8a$is of preparatlon The financial statement have been prepared in accordance wtth Accounting and Reporting by Charities- statement of Recomrnended Practice applicable to charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republie of Ireland IFRS1021 lefieclive l January 20151 Charities SORP {FRS1021 and the Gompanies Act 2006. NAFAS meets the d8finilion of a public benefit entity under FRS102. Ass8ts and Liabilities are initially recognised at historical cost or transaction value unless othewse stated in the relevant aecounling pollcy notelsl. After Mang appropriate enquiries, the trustees have a reasonable expectation that the charity has a¢Jequate resources lo continue in operational existence for th8 foreseeable future. This includes tsking into acBounl any Potential impact of the COVID-19 pandèmic. There are no material uncertaints.es about the group's ability to continue as a going concem. The financial statement5 are prepared in 5terting, which is the functional currency of the charity. Mon8tary amounts in th8se financi81 sl8temenls are rounded lo the nearest £1. 2.2 Group flnanclal statements The financial statements consolidate the results of the charity, its wholly owned subsidiary, NAFAS Enterprisès Limited on a line by lin8 basis. A separate Statement of Financial Activities and Income and Expenditure AOnt for the charity has not been presented as the group has taken advanlage ofthe exemption afforded by section 408 of the Companies Act 2006. 2.3 Income All income is recognised in the Ststement of Financial Activities once the group has gained erbtillemenl to them and the amounts can be quantified with sufficient reliability. Donations and gifts are included in full in the Statement of Financial Activities when there is entitl8m8nt, probability of receipt and the amount of income receivable can be measured reliably. Gifts in kind represent asse15 donated for distribution or use by the charity. Assets given for di$tn"bution are recognised as income only when dislribuled. Assets given for use by the charity are recognised when eivable. Gifts in kind are valued al the amount actually realised from the disposal of the assets or at the piice the charity would olherwse have paid for the assets. Income from charitsble activikn"6s 18 recognised as eamed as the related services are provided. Income from othèr trading adivities is recognised as earned as the related goods are provided. Invèstment income is recognised in the financial 5talernents when receivable. 2A Expondlturo Expenditure is recognised on an accruals basis when a liability is incurred. Expenditure Includés any VAT which cannot be fully recovered and is included within the item of exponditure to which it relates. Charitable expendiluTe comprise5 those costs incurred by the charity in pursuit of its charitable objectives. 11 includes both direct costs and support eosts relating lo such activities. Support costs. including salaries, are apportioned on the basis of the lime involved on the ?¢tivity. Govern8nce costs include those ¢cssts associated with meeting the statutory requirements of the group and nclude the audit fees arKI costs link8é lo slraleyic management of the group. 18
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 A¢¢ountiftgwicl8s (continued) 2.5 Tartgib flxod assets and *rerl4dan Tangible flx8d assets are st8t•d at cost loss depreciat•)n. Depreclation is prowded at rates Calculated to wfft¢ off the cx)s1195s gstsmated sIdUal value of eh agsét ovèr its exped8d useful lrfe, as follows.. Cclnputer equipment Straighl1Sne- over fwr years Furniture and ffttings Straight lin•- ovér four years Freehold land is not deprea8ted. The frothold bullding 1$ depated over 100 years from the yoar after purchase and is sublect Iv an annual Impalm revtew. The building c8rri•s a Grade 2 lisiing aThJ its useful lrfe is exrActgd to exceed 1(K) yÈars. 2.6 Investments Investments a aforrn ofbasicflnanda Instruments and are initialty¥twn inthe final statementsal market v#luè. Movèmènts In the martet values of Investments 8re $hNn as unr8alls8d gains and l¢)sses in tho stst¢ment of Financial Activib"es. Gains and losses on the reali5alion of Investmerts aTe shown as reallsed gains 8nd losses in th• Statement of Flnanoal Activities. Realised gains losses on in¥estmentB are calculated b¢fvrfggn sg1¢s prucee(Is and their Lyening (2rrying v81u8s or thelr purchase value if acquired subsequerrt to the first day of the flnanrial year. UnrÈ8lis8d galns and losses are calculated as the diffnCe between the falr value at the year end and their carrying value. Realised and unrealls&l Investsnentgainsand loss8s ar8 combined inthe Slalementof Flnandal Activities. 2.7 Stock stocks are valued at the low8r of cost and net realisable value. 2.8 Dgbto Tre and other debt5 ar9 Tpwgnised at the seluement amount due after any trade (Jiscount. 2.9 Cash at bank arKI Sn hand Cash at bank and in hand Indudes ¢ash and short tem) highly 1Squld investmenlÈ_ The Trusteès s8ek to use short and medium tenn ¢Jeposits wA)ere posslble to m8xlmise the rètum on monies held at the bank and to manage ca$h flow. 2.10 Cr¢dltor8 and provlslons Creditors and provisions ale recognised where the group has a present obligation rgsultin9 from a past event that will probably result In the transfer of funds to a thlrd party and the amount due to settle the oNigation can be nsUred or estimated reilable. 2.11 Leaging and hlro purthase comrnitmonts Rentals payabl8 under erating 188ses are charged again8t income on a stralght line basls overthe perfod of the 1è8S8. 2.12 Employee nefIts Shttrt t8m benefits including holiday pay ar8 recngni9ed as 8n expense In the period in whith the semee is rKgiv¢d. Temiin8tion A8fflS ara acLount&Y for on an accwal basls and In line wth FRS 102. The charity contribules to employees, personas pension schamas. Th8 pertsion costs charged in the finandal Ststements represent the CcributionS payable durin9 the year. 19
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accounting policios (continued) 2.13 Funds Unrestri¢tsd funds are donation5 and other income receiv8ble or generat8d for the objects of the charity. Designated fvnds are unreslricled funds earmarked by the Trustees for particular purposes. Restricted funds are funds provided for a specific purpose that must be spent In linè wth funder's raquiremenls. 2.14 Critical accounting estimates and Judggments In the application of the group's accounting policies. the trustees are required lo make judgements, eslimales and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are bas8d on historical experience and other faetors that are considered lo be relevant. Actual results mav differ from these e3timatès. Thé estirnale8 and underlying assumpllons are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate 1$ r8ViS6d. The trustees do not consider th81 thèrè are any critical estimates or areas ofjudgemenl that need to bè brought to the attention oflhe readers of the financial statements. Donadons and Legacles General Designatèd funds funds Restrictad funds Totrdl 2022 Total 2021 Donations to Workshop Fund Legacies CJRS grant Other 5,000 20,000 7,605 8,971 41,578 2.750 2,750 2,750 2,750 Income from charitable actlvltles General Deslgnated funds funds R8Strlcted funds Total 2022 Totsl 2021 Affiliation and direct membership Shows and Assemblies 170,686 4,579 175,165 3.059 173,645 4,579 178.224 217,966 3,059 217,966 20
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 6 Analy919 of group ¢harftablo aGUvltlg$ Total 2022 Totsl 2021 Staff costs WAFA Westhminster Abbey Flowe Chelse8 Flower Show CoThmitiees:. Photography Committ•è Demonstiatots Committee Educatlon Commlttee Area Medla Officers SAFAS Supwrt and govem8ncè eosts Other aclrvities 76.959 2.750 1,050 7,288 19 100 2.452 7.487 501 1.513 807 10,000 168.080 11,029 182,602 284447 265.0 Anatysls olcosts - 2022 Dlrect Support Gov•mane• casts ¢ts Total 2022 Total 2021 Charlt•b10 actlv5tles:. Op8rations 101,845 167,236 14366 284.447 285,096 101.846 167,236 15.366 284,447 265,096 Ral$lng funds:. Costs of Iradlng subsidlary 234242 4266 239,508 220,893 337,087 167.236 19,632 523,955 485,989 Analys18 of costs- 2021 Dlrect Support Governance Total Charftable actlvltle8:. Operation3 97,018 141.887 26.393 265.096 97,016 141,687 26.393 265,098 Raislng fund5:_ Costs of tradlng subsldlary Total 217,593 3,3C() 220,893 314,609 141,687 29,693 485,939 21
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Gov8rnanc• costs Total 2022 Total 2021 Auditors. retlluneration Audit Other seNlces Legal and professional fees 10.000 4.266 5,366 13,000 3,050 13,643 Total 19,632 29,693 Net Income for th¢ year 2022 2021 This is slated after charging.. Auditors ramunèration.. Audit Olher servic88 Expenses reimbursed lo Tru8tees Deprociation 10.000 4.266 1,152 7,466 13,000 3,050 7,336 22
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Comparatlvo Statsm•nt of Flnanclal ACVItIeS- Year endÈd 31 Mareh 2021 Gèneral fvnd* Deslgnatod funds Tatsl 2021 fund8 Inc¢)mg from: Donatlons and legarAe8 Chgrtlalle actiwties.. Affillauon & dlrect membership fees Ofher trathng actlvltie8.' Tradlng Income Invgstm¢nt inwne Other 23.432 16,100 41.576 214,100 217.988 10 257,612 23 257,612 23 811 Total Income 495.978 16.100 517988 Expendlture on: Raislng funds.. Costs of trading 8ubsÈdi8ry Chaiitable a¢tivitips: Operations 220.893 220.893 252.096 3.IXIO 10.000 265,096 Total expendlttJr• 472.989 3.000 10,000 485.989 Net gxpendSture 22,989 2,910 100 31,999 Transfeis btha8n funds 5.821 {48211 Not movement In funds 28,810 12,911} 6,100 31.999 Fund balan¢g8 at 1 April 2¢Y20 1.408,585 31.742 1,440.327 Fund balance¥ at 31 March 2021 1,437,395 28.831 6,100 1.472.326 23
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 10 Subsidiaries The wholly ovmed subsidiary NAFAS Enterprises Lirlliled is incorporated in England and Wales {company number.. 1829Q11). The subsidiary donates all of its profits to NAFAS. The summary financial perforvnance of the subsidiary is as follows.. 2022 2021 Turnover Cost of sales and administration costs Interest receivable 239.223 1239,5081 257,601 (220.8931 12 N8t profiVILossl Amount donated to the charity Retsined in subsidiary 1281) 36,720 1281) 38,720 The current assets and li8biltties of the subsidiary were.. Current assets Current liabilib.es 66,487 118,2351 91,814 {43,2871 Total nel assets 48,252 48,252 48,527 Aggregate shao capital ond reserves 48,527 11 Staff costs Number of employees Th8 av8rage monthly number of employees during the year was.. 2022 Numb8r 2021 Number Charitable activities Employment costs 2022 2021 Wages and salaries Social s8¢urity costs Other pension cost8 139,516 14,371 6,699 137,37e 10.487 14,282 160.586 1e2,145 No employee received total employeè b8n8fits of £60,0 or more in 2022 or 2021. 24
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 11 Stsff costs lcont1n1J) The key m8naoèment personnel of the charity comprise the Chlef Exe¢utive Officer, Tl Secretary and the Admlnislralive Secretary. The total employee benefits of key Fnanagement p8rsonn81 of the charity were £140.572 (2021.. £137,962}. Thls indude6 EmployÈrf8 National Insur8nc8 and pension o)ntribution8. None oflhe Tru8tees recefve(l any mUneratioN during the year. 12 Tanglble flx•d aB8ets Freehofd propgrty Webslto Fumltttrè and deslgn equipment Total ¢t Al 1 Aprfl 2021 Addltion$ Dlsposals 1,534.717 2.367 12.977 518 569 1.548,212 2,9 At 31 March 2022 1,537,084 12,977 1,107 1,551,168 Depreclatlon At 1 April 2(F21 Che fcthe year Disposals 100,07T 6.404 9,451 976 518 110,086 At 31 March 2022 1C6.481 10,467 117,552 Nat book value At 31 March 2022 1,430,603 2,510 503 1.433,816 At 31 March 2021 1,434.640 3,486 1,43e,126 13 In¥e8knents 2022 2021 Group.. Market value 8131 M8rch Charlty Investm8nt In subsidiary 14 Stock 2022 Group 2021 Group Charfty Charfty Good& for resale 12,834 9.472 25
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT SOCIETIES 2003 NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 15 Debtors 2022 Group 2021 Group Charlty Charty Trade debtors Prepayments Amounts owed from subsidiary company other debtors 20.304 21,636 10,835 19.012 3.243 1,349 15,580 11,100 8,418 9,380 33,112 75 1,349 75 43,289 34.439 28,755 50,985 16 Grgdltors: amounts folllng due within ono year 2022 Group 2021 Croup Charity Charity Trade creditors Taxes and social security cos15 Accruals and deferred income Bank loan Other creditors 21,178 4.631 131.155 30,000 9.658 18.297 10,098 119,045 30,000 9.720 10,755 7.187 165.324 17,5LK) 3,197 3,820 12,081 162,085 17.500 3,197 196.522 187.160 203,963 198,683 Deforrgd Incomo analysls.. 2022 Group 2021 Group Charfty Charity Deferred incorne at 1 April 2021 Released during year D8f8rr8d in year 135,557 1135.5671 109.763 135.557 (135.5571 109.763 170,324 {170,324) 135,557 170.324 1170,3241 135,5S7 Deferred income at 31 March 2Q22 109,763 109.763 135,557 135,557 Deferred incomè is in relation to affiliab.on fees received in advance. 26
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT 2003 NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 IT Credltors: amounts falling due In than ono year 2022 Group 2or21 Group Charlty Charity Bar loan 105,000 105,000 132,500 132,5C() 105,000 105.000 132,500 132,$00 18 Bank loan Bank loan8 are wtrK)lty repay)le in instalments as follows.. 2022 2021 Due in less than l year Due in 1- 5 years Due In over 5 years 30.000 105,000 17,S]O 120,0 12,5C 135.000 150,000 The loan is unsecured and repayable over 6 years. Interest is paYae at 4.48% per annum afterthe initial 12 month inl8r851 free period. 19 Opgrntlng lease commltments At the year end, the follwln9 commltments were in plac8 in respeci of owating lea 2022 Group 2021 Group Charny Cha thln year wthin two to five years 4260 4.260 3,781 3,781 Lease paynts recognised as an ex$& in the y8artot8118d £5.50412021'. £5.0411. 27
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT 2003 NOTES TO THE ACCOUNTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2022 20 Analysls of net assèts- 2022 (consolidated) Ganoral funds Designated funds Restricted funds Totsl Funds Fixed assets Current assets Current liabilities Long teryn liabilities 1.433.616 216,982 {196,5221 {105,0001 1.433.616 254,292 {196,5221 {105.0001 31.210 100 1.349,076 31,210 6.100 1,386,386 Analysis of net assets- 2021 l¢onsolidatedl General funds Deslgnated funds Restrlcted funds Total Funds Fixed assets Current assets Cutrenl liabilities Long lemi liabilitie5 1,438,128 335,732 (203,9631 1132.5001 1.438,126 370.663 1203,9631 1132,5001 28.831 6.100 1,437,395 28.831 6,100 1,472,326 21 Anatysls offunds- 2022 Balance at 1 Aprll 2021 Incoming Rosources resourc68 expended TransfeB Balance at 31 March 2022 Unr•strl¢ted funds: General funds Dasignatsd funds: WAFA Special Fund Overseas Travel Resèrve Heritage Fund Rèmembrance Fund Restrlctèd funds.. 1,437.395 434,956 1523,275) 1.349,076 16,785 11,317 680 16,785 14,376 3,059 (6801 49 49 Workshop C811igraphy & Engravin9 5,000 1,100 S.Ot)O 1.100 1,472,326 438,015 1523,955} 1.386.386 28
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT 2003 NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 21 Analysls of fund$- 2021 Icontlnuedl Balance at 1 Aprll 2019 Incomlng Resources resources expèndod Trnnsfers Balance at 31 March 2021 Unrestricted funds: General fvnd5 Designated funds.. WAFA Special Fun Overseas Travel ReseTve Education Fund Heritage Fund Remembrance fund Restricted fvnds: Workshop Calligraphy & Engraving SAFAS 1,408,585 495,978 (472,9891 5,821 1,437,395 14,741 10,451 5,821 680 49 2,044 3.866 16,785 11,317 13,0001 15,8211 680 49 5,OOQ 1,100 10,000 5.000 1,100 110,Ot)01 1.440,327 517,988 1485,S891 1,472,326 Deslgnated fund$ The WAFA Special Fund was opened to enable"Best in ShovK prize winners at future NAFAS National sho io represent the charfty at forthcoming WAFA World Shows. Thè Overseas Travel Reserve provldes for officials, travel costs to the Worfd Association of Flower angeTS (WAFA) Wortd Show, held every three years and for Ihe charity's annual subscription to WAFA. It is fijnded by an annual transfer from the General Re5eNe at the rate of 1 Op for each affiliated member. The Headquartets Herttage Fund wa8 opened lo provide for the periodic refurbishment of the charitys freehold premises, which is a Grade11 listed building. The Remembrance Fund consists of donations received in memory of members to be recorded in the book of remembrance. Restrictèd funds Tha Workshop Fund Conslsts of a donation re¢eived for the refurbishment of a room at Head Office for floral workshops to members and the general public. Thg Calllgraphy & Engravlng Fund has orisen as a result of donab.ons received toward the engraving of the Associations trophies, showing winners of various competitions, and the Calligraphy of framed pictures listing thè Ass¢xiations Nation81 Officers and Presldents. 22 Taxatlon The ¢harilable company is registered as a charity and all of its income falls within the exemptions under Part 1 of the Corporation Tax Act 2010. 29
NATIONAL ASSOCIATION OF FLOWER ARRANGEMENT 2003 NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 23 R•lated party transactlons The ¢harity has taken advantage of Paragraph 33.1 A of FRS 102 notto disclose transactions with wholly owned subsidiariès. During the year the charity paid expenses of £1.152 to four trusteas. During the prior year charity paid £74 to Christina Curtis (previous Irusleel in respect of proof reading. 24 Post balance shg&t events On 24 June 2022 the group sold Osbourne House for net proGeeds of £4.090,C44, resulting ill a g3iN on disposal of £2.659.441. In June 2022 the group entered into a rental lease agreement for S years from 151 August 2022 wth a value of £40.000 per year- a total commitment of £200,000. 30
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