THE ROYAL AIR FORCE WINTER SPORTS ALPINE ASSOCIATION
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2022
CHARITY REGISTRATION No: 1133113 COMPANY REGISTRATION No: 07002524
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham Chichester PO18 8NF
THE ROYAL AIR FORCE WINTER SPORTS ALPINE ASSOCIATION (A COMPANY LIMITED BY GUARANTEE)
CONTENTS
| Pages 3 to 5 | Report of the Directors. |
|---|---|
| Page 6 | Statement of Financial Activities. |
| Page 7 | Balance Sheet. |
| Pages 8 to 13 | Notes to the Financial Statements. |
| Page 14 | Independent Examiners Report on the Accounts. |
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THE ROYAL AIR FORCE WINTER SPORTS ALPINE ASSOCIATION (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MAY 2022
CHARITY NUMBER 1133113 COMPANY REGISTRATION NUMBER 07002524 START OF FINANCIAL YEAR 1st June 2021 END OF FINANCIAL YEAR 31st May 2022 DIRECTORS AT 31ST MAY 2022 Martin Cunningham Chair Michael Waring Joanna Bland Adam Shave Appointed 1st June 2022 Brian Wood Nicola Duncan Robert Jackson David Tozer
The Chair is appointed by AOC 22 Group. Other Trustees are elected at AGM. COMPANY SECRETARY Wilsons (Company Secretaries) Ltd REGISTERED ADDRESS Alexandra House St John's Street Salisbury Wiltshire SP1 2SB DATE OF INCORPORATION 27th August 2009 GOVERNING DOCUMENT Memorandum and Articles of Association Incorporated 27th August 2009 BANKERS Royal Bank of Scotland Holt's Military Banking 200 Fowler Avenue Fowler Business Park Farnborough Hampshire GU14 7JP INDEPENDENT EXAMINER J Irvine-Smith FCIE Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
OBJECTS
The objects for which the Charity is established (the “Objects”) are to promote the effectiveness of His Majesty’s Armed Forces by increasing physical fitness, fostering the esprit de corps and raising morale of members of the Royal Air Force and other services in an inclusive and safe environment, through the promotion of participation and furthering its proper administration whilst enabling the provision of facilities for Winter Sports.
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THE ROYAL AIR FORCE WINTER SPORTS ALPINE ASSOCIATION (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MAY 2022
OBJECTS AND ACTIVITIES
The objects for which the Charity is established (the “Objects”) are to promote the effectiveness of His Majesty’s Armed Forces by increasing physical fitness, fostering the esprit de corps and raising morale of members of the Royal Air Force and other services in an inclusive and safe environment, through the promotion of participation and furthering its proper administration whilst enabling the provision of facilities for Winter Sports.
The main activities are: to hold an annual championships to further promote the charitable objectives and introduce “grass root” individuals to winter sports; and provision of tuition to improve and extend personnel beyond their current capabilities in the areas of alpine skiing, snowboarding and telemarking.
The trustees have been mindful of the guidance issued by the Charities on public benefit.
Grants made by the Charity are done with the interests of further developing individuals’ participation at representative level and ensuring access to sport for all.
Development squads, training camps and ‘taster’ sessions are widely offered to allow individuals to access sport and determine their level of interest and suitability.
It is acknowledged that sport in the RAF is delivered through the aegis of the Sports Associations and the willing, enthusiastic volunteers who undertake roles on the Executive Committees and in the associations. The delivery of RAF competition would not be possible without officials, all of whom are volunteers. The contribution in these roles is highly valued and much appreciated and recognised as a duty activity in Service policy documents.
ACHIEVEMENTS AND PERFORMANCE
Providing access to winter sports for military personnel through UK indoor training and competitions, developmental overseas training camps and delivery of a competitive platform through the RAF Alpine Championships. Provided tuition to improve and develop all such personnel, including the development of alpine skiing, snowboarding and telemark skiing. Provided financial assistance to RAF alpine skiing, snowboarding and telemark skiing squads in order to facilitate their respective training programmes.
Although COVID-19 limited the ability to provide overseas training and competition for grass root personnel as restrictions eased opportunities were taken to deliver training and competition for the squads with minimal risk. Great improvements have been noted in many of the squad outputs, both individually and as a team, even during a history of significant restriction with respect to access to snow and training opportunities. Planning activity and development of instructors to deliver a full programme of activity for 2023 and 2024 also took place in the reporting period.
FINANCIAL REVIEW
The Charity is in a conservatively healthy position, having resumed normal levels of training and activity in 2022 (and with permitted spending of 2022 funds for early 2023 activity). It has therefore used the majority of the underspend reserves built up in 2020 and 2021.
A revised costed budget covering the next 24 month period has been completed to ensure the Charity can remain financially stable with essential reserves in place to account for the anticipated increases in expenditure (due to cost of living increases and greater ambitions for the reach of the Association).
Reserves are held to ensure planned activity is not adversely affected if: income streams do not match anticipated levels, to allow for changes in cash flow throughout the year, and to account for unexpected or higher than anticipated expenditures.
The RAF Winter Sports Alpine Association receives grants from the RAF Central Fund, RAF Sports Lottery and UK Armed Forces. In addition, sponsorship and donations are sought to provide additional, non-public funds which are used to support the objects of the Association; in particular the development of alpine sports at all levels in the RAF.
A large part of the Charity’s income is received from voluntary donations which, although are carefully managed, are an unreliable source of income and are received on a rolling basis throughout the FY, not tied to the periods of activity expenditure.
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THE ROYAL AIR FORCE wirirER SPORTS ALPINE ASSOCIATION
(A COMPANY LIMrrED BY GUARANTEE)
REPORT OF ThE OIREcfoRS
FOR ThE YEAR ENDED 31ST MAY 2022
FINANCIAL REview
THE ROYAL AIR FORCE WINTER SPORTS ALPINE ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MAY 2022
Incorporating income and expenditure account
| Notes INCOMING RESOURCES Donations and Legacies 3a Charitable Activities 3b Other Trading Activities 3c Investments Other TOTAL RESOURCES EXPENDED Expenditure on: Charitable Activities 4 TOTAL NET INCOMING/ (OUTGOING) Total Funds Brought Forward Transfers between Funds TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2021/22 2020/21 £ £ £ £ 82,000 70,972 152,972 57,617 70,190 - 70,190 5,611 61,900 - 61,900 80,500 - - - - - - - - 214,090 70,972 285,062 143,728 278,413 148,737 427,150 42,236 278,413 148,737 427,150 42,236 (64,323) (77,765) (142,088) 101,492 264,193 98,973 363,166 261,674 - - - - 199,870 21,208 221,078 363,166 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 13 form part of these financial statements.
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THE ROYAL AIR FORCE WIP4TER SPOATS ALPINE ASSOCIATXON (A COMPANY UMITED BY GUARANTEE) BALANCE SHErr AS AT 31sr MAY 2022 Ihrntrkthd Resirlct¢d 31-M•y-22 Jl-M•y-21 FuThJs f uTh1s T•t•l Flx•d A•Mts Taiiulblo Osseti 2,262 2.262 3.016 Currtnt Awt• Oeblors 120,537 120.537 96.281 Csh ot bonk In •tyI 146,306 21,?0 167,514 285.676 Tot•1 C¥rrnnt 21 Cr•dltor•i amtsurt$ 14NINJ du• wlllwl o yoar 69.235 69.235 21.807 NIT ASSETS FU140S OF THI CHARITY Unrnstrlcl•d Funds t99.070 199.•70 264.193 ReslrKltd f urK 21.208 21,208 98.973 TOTAL FUNDS DIRicfoRS' RespoNsx•iLm The dlrect¢Ys •r• gatislled that lor ih• wr eryl•d on 31st M4y 2022 Ih tfnp•ny •ntitled io exempiK)n from Ihe requlrvment tD obiain •n •udll s•ctts)n 477 01 ihts Compans kt 2006 aThl Ihal no M¥Ier oi rnembvrs h•ve requi0 Ihe comp•ny io ob141n •n ol It5 Kcollrts f¢)r the year que51h)n In accorda lih stttK>n 476 Acl. Hor, •ctordarK• wllh 5ectk)n 145 01 the Chariis Art 2011. th• •ccounis hove boen examirl by In lThlepeTh1eni Exammr rnport appvaTh on p•ye 13. The dlre¢iorls} Kknov41edg• ih•ir sponsIbl11Y lor tffiiplyw wllh Iho r•wr•menls ol Ihtr CDmpans Act 2006 wllh respett to Kcovntirnj retords •Th1 Iht preparatknn 0¢ KcryJr4t%. The x(oums hav• b•n Pre 1 Irroar¢ wllh Ihv In P•rt 15 of th• Cofflp4thvs Aei ?006 applIc4b io ccfflpanies subject lo tho srnall comp•nies regn aThJ In •ccor¢lanco Wlth Accoufitln9 and Roporlliw by Charltle5'. Stotemeni ol Aecornmen Pracle IPp•bI? to Ch•trtle5 prnpaNr¥ thioi oc£ount• in •Ccor%lDrQ wllh FAS 103 (effect• i 20191- Ichortribes SORP IFRS 102)] and Ihe Chariis Aci ?a i i. The dlrffiors aCknDwIV r•spO1llty lor Ihjt the company keeps woper aecwnithg records whith comply Wllh seciJOn 386 01 ihe A<1 aThl lor parI[) Iinancial 5taternents a Irue and l•ir vltw of Ihe stai¢ ol oflalts Lrf tho company 475 èt Il end ol the Iin•ntwl year and 11 Its prolit aTh1 1055 ft>r th• linala1 yar In Kcord0¢ Wlih the requlrtmenls ol se(ins J94 4r•1 J95 aTrl hkh olherwh• tomply wllh Ihe rnqiiliem•nis ol Iho C(mw•t5 Ac¢ 2006 wvlatty lo •cawnts. sg f•r 0$ •ppllc•lA• io compTri. Appro¥od by th• D*ectorJ on I....:..Fth..lU Sbjned on ihelr beh•ll by ......... . Dlrettor Print Name: Cthiipw NuffthT.' 7002524
THE ROYAL AIR FORCE WINTER SPORTS ALPINE ASSOCIATION (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2022
1. ACCOUNTING POLICIES
Basis of preparation:
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with FRS 102 (effective 1 January 2019) - (Charities SORP [FRS 102]) and the Charities Act 2011.
The Royal Air Force Winter Sports Alpine Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Preparation of the accounts is on a going concern basis. The Trustees are of the view that the level of reserves will support the charity going forward.
Advantage has been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the charity's operation and in order to comply with the requirements of the SORP.
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement.
The particular accounting policies adopted are set out below.
Changes in Accounting policies and previous accounts
There has been no change to the accounting policies (variation rules and methods of accounting) since last year, and no changes to the previous accounts.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
-
the charity becomes entitled to the resources;
-
the Directors are virtually certain they will receive the resources; and
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the monetary value can be measured with sufficient reliability.
Incoming Resources with related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
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THE ROYAL AIR FORCE WINTER SPORTS ALPINE ASSOCIATION (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2022
1. ACCOUNTING POLICIES
Incoming Resources (continued)
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the Directors' annual report.
Investment Income
This is included in the accounts when receivable.
Investment gains and losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
Expenditure and liabilities
Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Grants with performance conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants payable without performance conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Fund Structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Charity Status
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the asets of the charity in the event of liquidation.
Assets
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at Directors' best estimate of market value.
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THE ROYAL AIR FORCE WINTER SPORTS ALPINE ASSOCIATION (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2022
Assets (continued)
Fixed Assets
These are capitalised if they can be used for more than one year. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a reducing balance over their estimated useful lives. The rates applied per annum are as follows:
Snowboard
10%
2. TANGIBLE FIXED ASSETS
Unrestricted Restricted Total
| Snowboard Assets Cost 01-Jun-21 Additions Cost at 31-May-22 Depreciation 01-Jun-21 Charge Depreciation at 31-May-22 Net Book Value 31-May-22 31-May-21 |
£ £ £ 7,540 - 7,540 - - - 7,540 - 7,540 4,524 - 4,524 754 - 754 5,278 - 5,278 2,262 - 2,262 3,016 - 3,016 |
|---|---|
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31-May-22 : None 31-May-21 : None
| 3. ANALYSIS OF INCOME a) Donations and Legacies RAF Central Fund grants Other grants Donations b) Charitable Activities Personal contributions for activities Insurance claims Other c) Trading Activities Sponsorship |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2021/22 2020/21 £ £ £ £ - 60,972 60,972 43,317 - 10,000 10,000 10,300 82,000 - 82,000 4,000 82,000 70,972 152,972 57,617 64,382 - 64,382 5,611 5,808 - 5,808 - - - - - 70,190 - 70,190 5,611 61,900 - 61,900 80,500 61,900 - 61,900 80,500 |
|---|---|
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THE ROYAL AIR FORCE WINTER SPORTS ALPINE ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2022
4. EXPENDITURE ON CHARITABLE ACTIVITIES
| RAF Championships Indoor Champs Training Camps Inter Services Overseas Visits Clothing, Kit & Equipment Coaching & Course Costs Sponsorship Costs Operational costs New Member Engagement Grants awarded Other Expenses Depreciation Bad debt write off Solicitor's Fees - Company Secretarial Costs relating to the Annual General Meeting Independent Examiner's Fees Grants Awarded: Other RAF Winter Sports Associations Individual Awards Governance Costs included in Expenditure on Charitable Activities above: |
Unrestricted Restricted Funds Funds £ £ 66,814 10,957 17,565 740 23,221 31,580 42,227 34,607 53,003 20,173 22,172 14,940 11,639 27,624 2,742 - 9,855 7,036 - 1,080 22,353 - 6,068 - 754 - - - 278,413 148,737 |
TOTAL TOTAL 2021/22 2020/21 £ £ 77,771 - 18,305 5,014 54,801 - 76,834 - 73,176 - 37,112 9,428 39,263 698 2,742 - 16,891 4,107 1,080 360 22,353 20,367 6,068 838 754 754 - 670 427,150 42,236 2021/22 2020/21 £ £ 367 367 2,464 - 1,140 1,140 20,367 20,367 1,986 - 22,353 20,367 |
|---|---|---|
5. RESTRICTED FUNDS
| RAF Central Fund Grants: Association/Champs: CF Grant 2021 Association/Champs: CF Grant 2022 Ski: CF Grant 2021 Ski: CF Grant 2022 Snowboard: CF Grant 2021 Snowboard: CF Grant 2022 Telemark: CF Grant 2021 Telemark: CF Grant 2022 RAF Sports Federation Grant (Ski) UKAF Grant |
BALANCE Income Expenditure Transfers BALANCE 31-May-21 31-May-22 £ £ £ £ £ 31,583 (14,557) 17,026 - - - 10,459 492 - 9,967 27,410 6,226 33,636 - - - 22,433 22,433 - - 32,370 3,007 35,377 - - - 17,139 17,139 - - 7,310 5,324 12,634 - - - 10,941 - - 10,941 300 - - 300 - 10,000 10,000 - - 98,973 70,972 148,737 - 21,208 CURRENT YEAR |
|---|---|
Central Fund Grant is for operating costs, kit and equipment, overseas visits and development activities. A new grant is given each year, and any unspent from the previous year is returned.
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THE ROYAL AIR FORCE WINTER SPORTS ALPINE ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2022
5. RESTRICTED FUNDS (continued)
| RAF Central Fund Grants: Association/Champs: CF Grant 2020 Association/Champs: CF Grant 2021 Ski: CF Grant 2020 Ski: CF Grant 2021 Snowboard: CF Grant 2020 Snowboard: CF Grant 2021 Telemark: CF Grant 2018 Telemark: CF Grant 2020 Telemark: CF Grant 2021 RAF Sports Federation Grant (Ski) 6. DEBTORS AND PREPAYMENTS Debtors Prepayments |
BALANCE 31-May-20 £ 14,726 - 9,412 - 9,640 - 638 493 - - 34,909 |
Income Expenditure Transfers BALANCE 31-May-21 £ £ £ £ (19,607) 1,472 6,353 - 32,678 1,095 31,583 (17,034) - 7,622 - 28,390 980 - 27,410 (16,464) 7,095 13,919 - 32,430 60 - 32,370 - - (638) - (4,386) 2,663 6,556 - 7,310 - - 7,310 300 - - 300 43,617 13,365 33,812 98,973 Unrestricted Restricted Total Total Fund Fund 31-May-22 31-May-21 £ £ £ £ 120,537 - 120,537 96,281 - - - - 120,537 - 120,537 96,281 PRIOR YEAR |
|---|---|---|
7. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Creditors Accruals & Deferred Income |
Unrestricted Restricted Total Total Fund Fund 31-May-22 31-May-21 £ £ £ £ 47,120 - 47,120 - 22,115 - 22,115 21,807 69,235 - 69,235 21,807 |
|---|---|
8. STAFF COSTS AND NUMBERS
There are no staff paid by The Royal Air Force Winter Sports Alpine Association (2020/21: Nil).
9. DIRECTORS AND OTHER RELATED PARTIES
| Total directors expenses Number of directors receiving expenses |
Total Total 2021/22 2020/21 £52,760 - £ 5 - |
|---|---|
The expenses above mainly relate to reimbursement of accommodation and travel booked for group overseas visits, as well as minor expenditure enabling directors to carry out their duties. (2020/21: Nil).
No other payments were made to directors or any persons connected with them during this financial period. No material transaction took place between the organisation and a director or any person connected with them.
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THE ROYAL AIR FORCE WINTER SPORTS ALPINE ASSOCIATION (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2022
10. RISK ASSESSMENT
The directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
11. RESERVES POLICY
The directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The directors will endeavour not to set aside funds unnecessarily.
12. PUBLIC BENEFIT
The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
Report to the trustees/members of The Royal Air Force Winter Sports Alpine Association on the accounts for the year ended 31st May 2022 set out on pages 3 to 13.
RESPONSIBILITIES AND BASIS OF REPORT
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Association of Charity Independent Examiners.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the accounts do not accord with such records; or
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the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the Charities SORP (FRS102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
J Irvine-Smith FCIE Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF Date: 24th February 2023
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