## ## ## ||||Page| |---|---|---|---| |Reference and administrative
details|ofthe Charity,|its Trustees and Advisers|1-2| |Trustees'
report|||3-11| |Independent
auditor's
report on the|financial statements||12-15| |Consolidated
statement
offinancial|activities||16| |Consolidated
balance sheet|||17| |Charity balance sheet|||18| |Consolidated
statement
of cash flows|||19| |Notes to the financial statements|||20-38| |The following
page does not form part|ofthe statutory|financial statements:|| |Annex A - Association
Grants|||39| |Annex B - Infrastructure
Grants|||40| |Annex C - Trustees Going Concern|Assessment||41-43| ## |Reference and administrative
details ofthe Charity,
for the year ended 31 March 2021|Reference and administrative
details ofthe Charity,
for the year ended 31 March 2021|Reference and administrative
details ofthe Charity,
for the year ended 31 March 2021|Reference and administrative
details ofthe Charity,
for the year ended 31 March 2021|its Trustees and|its Trustees and|Advisers|Advisers|Advisers| |---|---|---|---|---|---|---|---|---| |Trustees||Major General
DJ Eastman||MBE, Chairman||||| |||Brigadier
I A Rolland|VR, Army Reserve Focus|||||| |||Brigadier D Clouston|(resigned||28 July 2020)|||| |||Brigadier SAnderson,
Army Female Athletes
(resigned 13April 2021)
Brigadier EJ R Chamberlain,
Sport Policy (resigned
12 November 2020)
Brigadier AJ W Sturrock (resigned 9September 2020)||||||| |||Brigadier
N C Allison||||||| |||Brigadier E N S Millar||||||| |||WO1 SParker, Army|Soldier Focus (resigned|||3July||2020)| |||Mr D H A Rowe, NED|Financial Advisor|||||| |||Brig RC Brown CEng FlnstRE, Capital Projects (appointed 9September 2020)
WO1 DS Morgan,
Army Soldier Focus (appointed
9September 2020)||||||| |Company
registered||||||||| |number||06569008||||||| |Charity registered||||||||| |number||1123854||||||| |Registered|office|Army Sport Control Board||||||| |||Mackenzie
Building||||||| |||Fox Lines, Queens Avenue||||||| |||Aldershot||||||| |||Hampshire||||||| |||GU11 2LB||||||| |Company secretary||Wilson (Company Secretaries)|||Limited|||| |Lottery Licence Number||1601508||||||| |Independent|auditor|Kreston Reeves LLP||||||| |||Chartered
Accountants||||||| |||Statutory
Auditor||||||| |||Montague
Place||||||| |||Quayside||||||| |||Chatham
Maritime||||||| |||Chatham||||||| |||Kent||||||| |||ME4 4QU||||||| ## ## |Reference and ad
forthe year ended|ministrative
details ofthe Charity, its Trustees and Advi
31 March 2021| |---|---| |Bankers|The Royal Bank of Scotland| ||(Holt's Famborough)| ||Lawrle House| ||Victoria Road| ||Farnborough| ||Hampshire| ||GU14 7NR| |Solicitors|Wilsons| ||Alexandra
House| ||St John's Street| ||Salisbury| ||Wiltshire| ||SP12SB| |Director|Major General (Retd) SA Burley CBMBE| ||Director ASCB| |Secretary|Lt Col (Retd) P Ashman -Finance Manager ASCB| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---| ||||funds|funds|funds|funds| ||||2021|2021|2021|2020| |||Note|R|F||F| |Income from."||||||| |Donations
and legacies
Charitable
activities||4
6|5,975,947|47,502|47,502
5,975,947|30,000
5,983,415| |Other trading
activities
Investments||5
7|329,617
13,741||329,617
13,741|190,000
38,298| |Other income||8|287,436||287,436|895,506| |Total income|||6,606,741|47,502|6,654,243|7,137,219| |Expenditure
on:
Raising funds
Charitable
activities||9
11|1„864,454
2,682,995|43,076|1,864,454
2,726,071|1,916,689
3,895,744| |Total expenditure|||4,547,449|43,076|4,590,525|5,812,433| |Net income before net gains/(losses)
on investments|||2059292|4,426|2,063,718|1,324,786| |Net gains/(losses)|on investments||2,167,685||2,167,685|(366,883)| |Net movement
in|funds||4,226,977|4,426|4,231,403|957,903| |Reconciliation
of|funds:|||||| |Total funds brought
forward
Net movement
in funds|||10,736,138
4,226,977|9,030
4,426|10,745,168
4,231,403|9,787,265
957,903| |Total funds carried forward|||14,963,115|13,456|14,976,571|10,745,168| ## ## ## ## ||||2021|2020| |---|---|---|---|---| |||||E| |Cash flows from operating|activities|||| |Net cash used in operating|activities||208,717|1,736,167| |Cash flows from investing|activities|||| |Dividends,
interests
and rents from investments|||13,741|38,298| |Purchase of investments|||(2,500,000)|| |Net cash (used in)/provided|by investing|activities|(2,486,259)|38,298| |Change
in cash and cash|equivalents
in|the year|(2,277,542)|1,774,465| |Cash and cash equivalents|at the beginning|ofthe year|8,015,619|6,241,154| |Cash and cash equivalents|at the end of|the year|5,738,077|8,015,619| |The notes on pages 20 to 38form part ofthese financial statements||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Restricted|Total|Total| |---|---|---|---|---|---|---| |||||funds|funds|funds| |||||2021|2021f|2020| ||BAE Systems grant|||32,226|32,226|30,000| ||SOTR grant|||15,276|15,276|| |||||47,502|47,502|30,000| ||Total 2020|||30,000|30,000|| |5.|Income from|other trading activities||||| |||||Unrestricted|Total|Total| |||||funds|funds|funds| |||||2021|2021|2020| |||||||F| ||Sponsorship|income||329,617|329,617|190,000| ||Total 2020|||190,000|190,000|| |6.|Income from|charitable|activities|||| |||||Unrestricted|Total|Total| |||||funds|funds|funds| |||||2021f|2021|2020| ||ASL ticket sales|||5,975,947|5,975,947|5,983,415| ||Total 2020|||5,983,415|5,983,415|| ## ## ## ||Unrestricted|Total|Total| |---|---|---|---| ||funds|funds|funds| ||2021|2021f|2020
F| |Interest receivable|13,741|13,741|38,298| |Total 2020|38,298|38,298|| ||Unrestricted|Total|Total| |---|---|---|---| ||funds|funds|funds| ||2021f|2021|2020| |Un-cashed
cheques
written back|||14,912| |SEPF Repayment
from GIA
BA(G) Global Settlement
Ferry account closure
Returned
grants|150,000
137,436|150,000
'i37,436|150,000
729,695
899| ||287,436|287,436|895,506| |Total 2020|895,506|895,506|| ## ## ## ## ## ||||||Unrestricted|Total|Total| |---|---|---|---|---|---|---|---| ||||||funds|funds|funds| ||||||2021|2021|2020| |ASL prizes and costs|||||1,623,000|1,623,000|1,663,981| |Sponsorship
agent's fees|||||118,437|118,437|114,013| |ASCB Trading - Legal and|professional|||fees|1,698|1,698|| |ASCB Trading - Travel expenses|||||||6,551| |ASCB Trading - Auditors'|remuneration||||2,060|2,060|2,000| |ASCB Trading - Accountancy||fees|||1,115|1,115|| |Staff costs|||||118,144|118,144|130,144| ||||||1,864,454|1,864,454|1,916,689| |Total 2020|||||1,916,689|1,916,689|| |Analysis ofgrants|||||||| ||||||Grants to|Total|Total| ||||||Institutions|funds|funds| ||||||2021|2021|2020| |Association,
capital and equipment|||grants||2,189,264|2,189,264|2,316,462| |BAE Systems grant|||||27,800|27,800|30,000| |Elite Sports grants|||||284,518|284,518|301,697| |Sports lottery grants|||||(13,539)|(13,539)|898,751| |SOTR grants|||||15,276|15,276|| ||||||2,503,319|2,503,319|3,546,910| |Total 2020|||||3,546,910|3,546,910|| ## ## ## ## ||||Grant|||| |---|---|---|---|---|---|---| |||Direct|funding of
activities|Support|Total|Total| |||costs
2021f|(note 10)
2021|costs
2021
F|funds
2021f|funds
2020
F| |Grants to controlling|bodies|7,347|2,189,264|157,668|2,354,279|2,596,628| |BAE Systems grant
Elite Sports expenditure
ASL grants||55,675|27,800
284,518
(13,539)|2,062|27,800
340,193
(11,477)|30,000
357,719
911,397| |SOTR grants|||15,276||15,276|| |||63,022|2,503,319|159,730|2,726,071|3,895,744| |Total 2020||116,213|3,546,910|232,621|3,895,744|| |Analysis ofdirect costs||||||| |||||Unrestricted|Total|Total| |||||funds|funds|funds| |||||2021|2021|2020| |Staff costs||||63,022|63,022|116,213| |Total 2020||||116,213|116,213|| ## ## |||Unrestricted|Total|Total| |---|---|---|---|---| |||funds|funds|funds| |||2021|2021|2020| |Computer costs||16,277|16,277|47,763| |Meeting expenses||246|246|1,570| |Sundry expenses||2,062|2,062|12,646| |Travel and accomodation||||7,764| |Bank charges||2,617|2,617|4,124| |Gambling
Commission|charges|1,508|1,508|1,508| |Training||||2,573| |Office costs||14,873|14,873|34,700| |Marketing||42,403|42,403|23,702| |Staff welfare||1,485|1,485|849| |Insurance||3,588|3,588|6,000| |Staff costs||65,921|65,921|30,578| |Legal and professional|fees|734|734|41,924| |Trustee and staff training||600|600|600| |Auditors'
remuneration||7,416|7,416|7,200| |Accountancy fees||||9,120| |||159,730|159,730|232,621| |Total 2020||232,621|232,621|| ## ## ## |Staff costs||||| |---|---|---|---|---| ||Group
2021|Group
2020|Charity
2021|Charity
2020| |||E||| |Wages and salaries
Social security costs
Pension costs|211,320
20,030
15,737|239,350
21,648
15,937|211,320
20,030
15,737|239,350
21,648
15,937| ||247,087|276,935|247,087|276,935| |Group
2021|Group
2020|Charity
2021|Charity
2020| |---|---|---|---| |No.|No.|No.|No.| ## ## ## ## ## ## ## ## ## ||Investments||| |---|---|---|---| ||in||| ||subsidiary|Listed|| |Charity|companies|investments|Totalf| |Cost or valuation|||| |At 1 April 2020
Additions|1|6,778,319
2,500,000|6,778,319
2,500,001| |Revaluations||2,167,685|2,167,685| |At 31 March 2021|1|11,446,004|11,446,005| |Net book value|||| |At 31 March 2021|1|11,446,004|11,446,005| |At 31 March 2020||6,778,319|6,778,319| ## ## ||||||Group
2021|Group
2020|Charity
2021|Charity
2020| |---|---|---|---|---|---|---|---|---| ||||||||f.|| ||Due within one year|||||||| ||Trade debtors||||152,016|24,000|15,276|| ||Amounts|owed by|group undertakings||||200,000|200,000| ||Other debtors||||229,776|92,379|229,776|91,920| ||||||381,792|116,379|445,052|291,920| |17.|Creditors: Amounts|||falling due within one year||||| ||||||Group
2021|Group
2020|Charity
2021|Charity
2020| ||Trade creditors||||14,940|2,400||| ||Amounts|owed to group undertakings||||||| ||Other taxation and||social security||20,593|||| ||Accruals|and deferred||income|463,460|494,395|463,460|494,395| ||Other creditors|||||950,000||950,000| ||Accrued|grant awards|||2,105,309|2,733,354|2,105,309|2,733,354| ||||||2,604,302|4,180,149|2,568,770|4,177,750| ||||||Group
2021|Group
2020|Company
2021|Company
2020| |||||||E||| ||Analysis|ofdeferred||income||||| ||Deferred|income at 1 April 2019|||475,240|366,450|475,240|366,450| ||Resources deferred||during the year||446,816|475,240|446,816|475,240| ||Amounts|released|from previous years||(475,240)|(366,450)|(475,240)|(366,450)| ||Deferred|income at 31 March 2020|||446,816|475,240|446,816|475,240| ## ## ## |Statement of|funds -curr|ent year||||| |---|---|---|---|---|---|---| |||As restated
Balance at||||Balance at| |||1 April
2019f|Income|Expenditure
f|Gains/
(Losses)|31 March
2021| |Unrestricted|funds|||||| |ASCB Unrestricted||10,736,138|6,606,741|(4,547,449)|2,167,685|14,963,115| |Restricted funds||||||| |BAE Systems||9,030|32,226|(27,800)||13,456| |SOTR|||15,276|(15,276)||| |||9,030|47,502|(43,076)||13,456| |Total offunds||10,745,168|6,654,243|(4,590,525)|2,167,685|14,976,571| |Statement of|funds -prior|year||||| |---|---|---|---|---|---|---| |||||||Balance at| |||Balance at|||Gains/|31 March| |||1 April 2019|Income|Expenditure|(Losses)|2020| |||F|E|||| |Unrestricted|funds|||||| |ASCB Unrestricted||9,778,235|7,107,219|(5,782,433)|(366,883)|10,736,138| |Restricted funds||||||| |BAESystems||9,030|30,000|(30,000)||9,030| |Total offunds||9,787,265|7,137,219|(5,812,433)|(366,883)|10,745,168| ## ## ## |Summary
offunds - cu|rrent year||||| |---|---|---|---|---|---| ||As restated||||| ||Balance at||||Balance at| ||1 April|||Gains/|31 March| ||2019|Income|Expenditure|(Losses)f|2021| |General funds|10,736,138|6,606,741|(4,547,449)|2,167,685|14,963,115| |Restricted funds|9,030|47,502|(43,076)||13,456| ||10,745,168|6,654,243|(4,590,525)|2,167,685|14,976,571| ||||||Balance at| |---|---|---|---|---|---| ||Balance at|||Gains/|31 March| ||1 April 2019|Income|Expenditure|(Losses)|2020| ||F|E|||| |General funds|9,778,235|7,107,219|(5,782,433)|(366,883)|10,736,138| |Restricted funds|9,030|30,000|(30,000)||9,030| ||9,787,265|7,137,219|(5,812,433)|(366,883)|10,745,168| ## ## |Analysis of net assets between
funds - cur|rent year||| |---|---|---|---| ||Unrestricted|Restricted|Total| ||funds|funds|funds| ||2021f|2021|2021| |Tangible fixed assets|15,000||15,000| |Fixed asset investments|11,446,004||11,446,004| |Current assets|6,106,413|13,456|6,119,869| |Creditors due within one year|(2,604,302)||(2,604,302)| |Total|14,963,115|13,456|14,976,571| ## ## |Notes|to the flnancial statements|||||| |---|---|---|---|---|---|---| |for the|year ended 31 March 2021|||||| |20.|Analysis ofnet assets between|funds (continued)||||| ||Analysis of net assets between|funds -prior year||||| |||||Unrestricted|Restricted|Total| |||||funds|funds|funds| |||||2020|2020|2020| |||||||F| ||Tangible fixed assets
Fixed asset investments|||15,000
6,778,319||15,000
6,778,319| ||Current assets|||8,122,968|9,030|8,131,998| ||Creditors due within one year|||(4,180,149)||(4,180,149)| |||||10,736,138|9,030|10,745,168| ||Total|||||| |21.|Reconciliation
ofnet movement||in funds to net cash flow from operating||activities|| ||||||Group|Group| ||||||2021|2020| ||Net income for the year (as per Statement of Financial|||Activities)|4,231,403|957,903| ||Adjustments
for."
Losses / (gains) on investments||||(2,167,685)|366,883| ||Dividends,
interests
and rents from||investments||(13,741)|(38,298)| ||Increase
in debtors||||(265,413)|(315,236)| ||Increase/(decrease)
in creditors||||(1,575,847)|764,915| ||Net cash provided
by operating||activities||208,?17|1,736,167| |22.|Analysis of cash and cash equivalents|||||| ||||||Group|Group| ||||||2021f|2020
F| ||Cash in hand||||5,738,0?7|8,015,619| ||Total cash and cash equivalents||||5,738,077|8,015,619| ## ## |||||||At 1 April||At 31 March| |---|---|---|---|---|---|---|---|---| |||||||2020|Cash flows|2021| |Cash|at|bank|and|in|hand|8,015,619|(2,277,542)|5,738,077| |||||||8,015,619|(2,277,542)|5,738,077| ## ## |||Group
2021|Group
2020|Charity
2021|Charity
2020| |---|---|---|---|---|---| |Not later than
1 year||12,000|12,000||12,000| |Later than|1 year and not later than 5 years|48,000|48,000||48,000| |Later than|5years|180,000|192,000||192,000| |||240,000|252,000||252,000| ## ## ## |The following|w|as a subsi|diary
undertaking
of|diary
undertaking
of|the Charity:|the Charity:|the Charity:|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |Name|||Company
number||Registered
office
place ofbusiness|||or principal||Principal|activity|| |ASCB Trading||Limited|11997374||Alexandra
Street,
United|House,
Salisbury,
Kingdom,||StJohns
Wiltshire,
SP1 2SB||To further the objects
ofand generate
profits for ASCB||| |||||||||||Chantable||Fund| |Class of|Holding||Included|in||||||||| |shares|||consolidation|||||||||| |Ordinary||100% Yes||||||||||| |The financial|results ofthe subsidiary|||for the|year were:|||||||| |Name|||||Income|Expenditure|||Profitl(Loss)
ISurplus/||Net assets|| ||||||||||(Deficit) for|||| |||||||||||the year||| |ASCB Trading||Limited|||329,617||(123,310)|||206,307||204,011| |ASSOCIATIONS/UNIONS||||||| |---|---|---|---|---|---|---| |ANGLING ASSOCIATION
ARCHERY
ARMED FORCES RALLY TEAM
ARMY TUG OF WAR ASSOCIATION
ATHLETICS ASSOCIATION
BADMINTON
ASSOCIATION
BASKETBALL ASSOCIATION
BOXING ASSOCIATION
CANOE UNION
CRICKET ASSOCIATION
CYCLING UNION
EQUITATION
FENCING
UNION
FOOTBALL ASSOCIATION
GLIDING ASSOCIATION
GOLF ASSOCIATION
HANG/PARA
GLIDING ASSOCIATION
HOCKEY ASSOCIATION
ICE HOCKEY
JUDO ASSOCIATION
LAWN TENNIS ASSOCIATION
MARTIAL ARTS ASSOCIATION
MODERN PENTATHLON
ASSOCIATION
MOTOR SPORTS ASSOCIATION - 2 WHEEL
MOTOR SPORTS ASSOCIATION -4 WHEEL
NETBALL ASSOCIATION
PARACHUTING
ASSOCIATION||32,000
500
15,000
10,200
28,000
6,000
8,500
12,700
4,700
32,500
28,900
44,000
1,100
30,000
15,800
20,300
4,500
11,200
9,800
7,300
12,500
13,500
6,000
24,000
28,000
17,500|5,370
500
5,600
5,000
7,000
8,000
3,200
10,000
14,050
11,800
10,000
2,800
3,510
4,530
12,800
7,000
4,500
10,000
2,300
5,800
3,800
5,000
5,600
12,000
18,600
3,200|700
500
4,000
19,500
10,000
5,000
40,000
10,000|1,000
300
16,400
750
1,000
4,800
1,500
19,800
4,400
10,800
6,000
4,700
3,000
2,800
600
1,000
1,500|37,370
1,700
20,600
15,200
36,000
14,500
12,000
43,100
39,000
55,300
38,900
51,600
11,110
54,330
73,000
38,100
9,000
37,200
12,100
17,800
19,300
21,300
12,200
36,000
47,600
22,200| |POLO ASSOCIATION
POWERLIFTING
UNION
REAL TENNIS 8 RACKETS ASSOCIATION
SHOOTING ASSOCIATION||16,400
3,500
5,300
35,000|9,800
2,600
17,800||3,500
1,500|16,400
16,800
7,900
54,300| |ROWING CLUBS ASSOCIATION
RUGBY LEAGUE
RUGBY UNION||21,700
45,000|7,400
21,500||5,000
19,400|34,100
66,500
19,400| |SAILING ASSOCIATION
SPORT CLIMBING||20,000
7,200|8,150
1,400||3,500
6,000|31,650
14,600| |SQUASH RACKETS ASSOCIATION
SURF RIDERS UNION||15,900
2,000|5,900
3,400||2,000
3,400|23,800
8,800| |SWIMMING
UNION||30,000|9,300||7,350|46,650| |TABLE TENNIS ASSOCIATION|||1,500|1,600||3,100| |TRIATHLON ASSOCIATION||49,500|5,000||2,500|57,000| |VOLLEYBALL ASSOCIATION||6,700|3,090||3,700|13,490| |WATERSKIING 8,WAKEBOARDING
WINTER SPORTS ASSOCIATION|ASSOCIATION|13,900
48,500|5,900
9,500|||19,800
58,000| |ASSOCIATION TOTALS||745,100|294,200|91,300|138200|1 268 800| |PD BRANCHES||57,000||||57,000| |SPONSORSHIP REGT/CORPS||||||| |DIRECTORS CONTINGENCY||60,000||||60,000| |TOTAL||862,100|294,200|91„300|138,200|1,385„800| ## |pproved
G|rants|||| |---|---|---|---|---| ||Approved-
Accruals|||| |DASCB
Arm
Rowin
ASCB
DASCB
DASCB
DASCB|Gos ort Gatehouse
2020/21
New Boathouse
S orts Accommodation
Stora e Facili
Ul ssess 3 Years
WMG- Ja an|F50,000
F550,000
F1,000,000
F217000
F90,000
F300,000|F41,691
FO
FO
F60,000
EO|F50,000
F508,309
E1,000,000
F217,000
F30,000
F300,000
F2 105309| ||A
roved - not accrued|||| |DASCB|Stren
th and Conditionin|F2,000,000|EO|F2000000| |DASCB
DASCB|Cor s Grants
Festival ofS ort '
Nuffield
Trust Wavell Pavilion - RIC|F250 000
F300,000|FO
F106,124|F250,000
F193,876
F2,443,876| ## ||Forecast and bud ets|Forecast and bud ets||||||Y|N||Comments|| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||Has management
prepared
monthly
cash flow forecasts
and/or
monthly
budgets
covering, as a minimum,
a period of
twelve months
from the expected date ofapproval
ofthe
accounts?||||||||||The Fin Man produces
regular FOO for review by
the Director and these are
presented
to the Board at|| ||||||||||||each oftheir 3 meetings|| ||||||||||||per year. The Board|| ||||||||||||endorse annual
grants at|| ||||||||||||their December meeting|| ||||||||||||based upon an annual|| ||||||||||||forecast prepared
by the|| ||||||||||||Fin Man and presented|by| ||||||||||||the Director; this includes|| ||||||||||||the annual
grant|| ||||||||||||allocations to Army Sports|| ||||||||||||Associations
and Unions.|| ||||||||||||Income to the Charity
is|| ||||||||||||from the Army Sports|| ||||||||||||Lottery.
The Charity
is|| ||||||||||||'cash rich' and has no|| ||||||||||||anticipated
cash flow|| ||||||||||||issues.
In addition
the|| ||||||||||||reserves policy requires|| ||||||||||||18months ofoperating|| |1.2.|Has management
developed
a list ofassumptions
that
underlie
the forecasts, updated as necessary for the effects
ofCOVID-19? Such assumptions
might include:
~
gross profit margins
that are realistic and consistent
with past performance,
the existing and anticipated
pricing structure
and order book;|||||||||NA|ca ital to be retained.
The main activity is the
generation
ofincome
through
the Army Sports
Lottery and approved
grants —commitments
are
minimal
to the overall|| ||~
~|expected sales mix and yield;
the patterns of expected debtor collections;|||||||||activity ofthe Charity.
The majority of|| ||~|levels ofstock holding
and WIP;|||||||||expenditure
is|| ||~|payment
terms with creditors;|||||||||discretionary
and made|| ||~|capital asset replacements;|||||||||based on the forecasted|| ||~|inflation,
contractual
terms and seasonal||fluctuations;|||||||income and expenditure,|| |||and|||||||||approved
by the Trustees|| ||~|overhead
levels?|||||||||in December prior to the|| |1.3.|In determining
the appropriateness
ofthe going concern
basis has management
adequately
taken into account:|||||||||NA|start ofthe next FY.|| ||~|the stability ofthe cost base;||||||||||| ||~|whether businesses
in the supply|chain are|||at risk;||||||| ||~|significant
staff absences;||||||||||| ||~|risks oflosing key suppliers
and|significant||customers;|||||||| ||~|potential
losses on long-term
contracts; and||||||||||| ||~|ade uac
of insurance
olicies?||||||||||| ||Have the forecasts been tested by performing
sensitivity
analyses
on the critical assumptions,
particularly
in relation
to differing
levels ofactivity?|||||||||NA|Main income remains
stable and relatively
unaffected
by COVID.|| ||||||||||||COVID has reduced|| ||||||||||||activity thus offering|| ||||||||||||savings and thus|| ||||||||||||increased
the overall|| ||||||||||||wealth ofthe Fund.|| ||Documentation||||| |---|---|---|---|---|---| |7.1|Has the going concern assessment|been documented|in||Detailed below| ||sufficient detail to explain the basis|ofmanagement's|||| ||conclusion
with res ect to
oin
concern?||||| |7.2|Where management
has identified|that a material||NA|| ||uncertainty
exists, has a suitable document
been drafted||||| ||that discloses the principal
events or conditions
that may||||| ||cast significant
doubt on the entity's|ability to continue|as a||| ||going concern and management's|plans to deal with|these||| ||events or conditions?||||| ## ##