UNITED KINGDOM ARMED FORCES WINTER SPORTS ASSOCIATION (UKAFWSA) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
INTRODUCTION
- The CSWSA was formed in 1950 to provide a focus for the various disciplines of winter sports in the Services. It was retitled UKAFWSA in Dec 16. Its Registered Charity Number is 1138305 and Company No 07033277. The Registered address is UKAFWSA, c/o MOD ASCB, MacKenzie Building, Fox Lines, Queens Avenue, Aldershot, Hants, GU11 2LB.
MISSION
- The UKAFWSA’s mission is to provide an organisation for the pursuit of winter sports excellence at Inter Services level, which represents the pinnacle of winter sports achievement in the Services, thereby furthering the provision of access to winter sports at competitive and all other levels to HM Forces personnel.
OBJECTIVES
- The objectives of the Association are to:
a. Provide governance of winter sports in the Services and where possible ensure a consistent approach to winter sports within each discipline across all 3 Services.
b. Procure funding through sponsorship, non-public and public (where appropriate approval exists) funds and to ensure the fair and equitable allocation of these funds to individual winter sports disciplines.
c. Provide formally-structured committees within which each discipline’s interests are fully represented.
d. Provide an overarching organisational framework and environment within which winter athletes can compete at the highest level within the Services.
e. Promote the interests of HM Forces through UK Armed Forces (UKAF) sport consistent with current Defence Corporate Communications policy.
f. Encourage the support of national sports.
ORGANISATION
4. Managing Trustees. The UKAFWSA comprised 5 Trustees as follows:
| a. | Cdre R Harris RN | Chair UKAFWSA |
|---|---|---|
| b. | Capt T Davey RN | Chair RNWSA |
| c. | Brig J Fossey | Chair AWSA |
| d. | Gp Capt M Cunningham RAF | Chair RAFWSF |
| e. | Brig R Haldenby | Trustee |
UKAFWSA Trustees Report 23/24 – 1
-
Sub-Committees. Sub-committees of the UKAFWSA exist for each discipline as follows:
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a. Alpine.
-
b. Ice Sports – Bobsleigh, Luge and Skeleton.
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c. Cresta.
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d. Nordic – Cross Country and Biathlon.
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e. Snowboard.
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f. Telemark.
COMMITTEE STRUCTURE AND CONDUCT OF BUSINESS
-
Trustees.
-
a. Terms of Reference.
(1) To provide strategy and policy in furtherance of the aims and objectives of the Association.
(2) To consider and allocate funds to Association activities.
(3) To approve nominations for Patron, President, Chair and Secretary/Operations Manager of the Association and Discipline Chairs.
b. Membership.
(1) Chair. The Chair, who is to be a serving senior officer with a strong interest in winter sports, will be nominated and approved by members of the UKAF Sports Board. He is responsible for the supervision of the Association’s finances and for the overall management of the Association’s business.
- (2) Chair of Single Service Winter Sports Associations. The Chair of the singleService Winter Sports Associations will be standing Trustees of the UKAFWSA.
c. Frequency of Meetings. The UKAFWSA Trustees shall meet in plenary session ideally at least two times a year, sometimes 3 or 4.
e. Quorum. A quorum will have been achieved when the Chair and at least two representatives from each single-Service Winter Sports Association is present. Each Service will be entitled to one vote.
f. Accountability. The Council is accountable to the UKAFSB for the proper conduct of its business and national sport bodies for the correct application of their rules.
UKAFWSA Trustees Report 23/24 – 2
FINANCIAL POLICIES
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General. The Trustees are responsible for the financial health and good financial management of the UKAFWSA.
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Priorities for Expenditure. The priority for the use of Charity funds for the 23/24 period, unchanged from previous years, is as follows:
a. Funding Inter-Service (IS) competitions of Individual Military Training (Nordic) Category 2 (Alpine, Bobsleigh, Luge, Skeleton, Snowboard and Telemark and Cresta) winter sports at an appropriate standard and level of safety.
b. Promoting the excellence, reputation, and prestige of the UKAFWSA as the governing body of UKAF Winter Sports.
- c. Assisting with the defrayal of costs of athletes attending UKAF competitions.
d. Assisting in the defrayal of costs of athletes representing the UKAF at other competitions (British Championships and against the Australian Defence Force.
e. Maintaining a reserve to ensure subsequent years competitions can be conducted should income reduce.
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f. Supporting UKAF athletes at national competitions.
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g. Supporting UKAF athletes at international competitions.
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Expenditure. The Trustees agreed the following:
a. Events. The four main Championships (Inter Service Snow Sports (ISSSC), IS Ice Sports, Cresta and Nordic Championships) were each provide funds to run the events in accordance with the direction provided by the Trustees.
b. Protocol. A maximum of 15% of the income could be spent on Protocol, which included VIP hosting at UKAF events (ISSSC, IS Ice Sports Championships, Nordic and Cresta), The 2023 President’s Dinner (Nov 23) and the 2024 Cocktail Party (Jun 24).
c. Grants. The Charity made grants as determined by the Trustees, which complied with the objects of the Charity and the priorities for expenditure detailed in Paragraph 9 above. For the 23/24 Season the Trustees agreed the following grants:
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(1) Single Service Grants. These are set at £15K to each Service, this was an increase of £5K over recent years, voted in by the Trustees.
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(2) Armed Forces Para Snowsports Team (AFPST). Set at £3K.
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Income. Income for the UKAFWSA was provided almost wholly from donations from various companies in the UK with only a small amount from bank interest and investment dividends.
UKAFWSA Trustees Report 23/24 – 3
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Financial Reserve. The Charity will endeavour to hold a financial reserve sufficient to cover the minimum running costs of one-year’s UKAF Winter Sports events. This reserve will be drawn down only with the specific agreement of the Trustees. A proportion of the Reserve, as determined from time to time by the Trustees, may be held in Investments. At the 2023 Council Mtg the Trustees agreed to add a line to the budget for an annual payment of £10K to be placed into the Reserve; this was considered to be good financial management.
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Investments. The Charity may invest for the purpose of medium-term growth (2 – 5 years) with a strong emphasis on securing capital, income is not a requirement.
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23/24 Financial Overview. The Chair reported that donations had risen slightly following a few turbulent years post COVID as we managed to secure a number of SME companies new to the organisation which bolstered our financial position in time for the season. With the increase in income the Trustees were able to take the decision to enter teams into both the Alpine and Snowboard British Championships held in France. Both resulted in various degrees of success, particularly in the Snowboard where the military competitors made up over a third of the entries. The season closed with all disciplines completing a full programme of events in the best snow conditions experienced for many years. The detailed Financial Statement is enclosed with this report. At the season close the account realised a surplus £44,747.
UKAFWSA EVENTS
- In 2032/24 UKAF Winter Sports was able to complete a full season across all disciplines. With snow conditions varying from country to country and resort to resort, all disciplines had to remain flexible to programme changes with the safety of the competitors paramount in all decisions made. Meribel saw some unseasonably warm weather that made racing in the afternoons almost untenable, whilst at the Cresta and Ice Championships there was too much snow rendering the respective ice tracks to be closed as the tracks could not be cleared sufficiently for prolonged racing. In a change to the normal race programme, the Ice Championships returned to St Moritz for the first time in many years. Whilst this was a pleasant change of venue for the competitors, it did increase the annual costs given the expensive nature of the resort. While facing a backdrop of operations and busy periods at work once again affected some participation, the UKAFWSA managed to complete events with a high standard of competition. Despite such challenges for the snow sports all other events passed without issue and so it was pleasing to be able to report a full and successful season for the UKAFWSA across all disciplines Once again there were many closely fought competitions and congratulations must go to all the competitors, whose skill, determination, and frankly raw courage epitomises the values the UKAFWSA place so highly in our British Servicemen and Women and enables them to throw themselves down ice and snow with little more than a piece of wood, metal or fibreglass strapped on somewhere at frightening speeds. At the end of a hard fought season the RAF appeared to victors when counting the total number of trophies being competed for: RAF – 6, Army – 4, RN – 3. Finally, we must commend all members of our Hill Teams, Officials and Sponsors, for all that they do. There drive and commitment ensures we are able to return year on year to deliver the events we witness on an annual basis.
SUMMARY
- Another excellent season from a sporting perspective. The UKAFWSA is in very good order.
UKAFWSA Trustees Report 23/24 – 4
SAJ Davis
SAJ Davis Lt Col (Retd) Secretary for Chairman of the Trustees
Jun 25
Enclosure:
- Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 Sep 24.
UKAFWSA Trustees Report 23/24 – 5
REGISTERED COMPANY NUMBER: 07033277 (England and Wales) REGISTERED CHARITY NUMBER: 1138305
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 September 2024
for
The UK Armed Forces Winter Sports Association
Dial Square Associates Limited Chartered Accountants 9 St George's Yard Farnham Surrey GU9 7LW
The UK Armed Forces Winter Sports Association
Contents of the Financial Statements for the Year Ended 30 September 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Cash Flow Statement | 5 | ||
| Notes to the Cash Flow Statement | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
The UK Armed Forces Winter Sports Association
Report of the Trustees for the Year Ended 30 September 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07033277 (England and Wales)
Registered Charity number 1138305
Registered office Alexandra House St Johns Street Salisbury Wiltshire SP1 2SB
Trustees Brigadier R Haldenby Group Capt M L Cunningham Major Gene D Crook Hm Forces Army (resigned 9.5.24) Captain J Woodard Hm Forces Royal Navy (resigned 3.5.24) Commodore R Harris T J Davey (appointed 3.5.24) J E Fossey (appointed 9.5.24)
Company Secretary Wilsons (Company Secretaries) Limited
Independent Examiner I R Futcher FCA Dial Square Associates Limited Chartered Accountants 9 St George's Yard Farnham Surrey GU9 7LW Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Brigadier R Haldenby - Trustee
Page 1
Independent Examiner's Report to the Trustees of The UK Armed Forces Winter Sports Association
Independent examiner's report to the trustees of The UK Armed Forces Winter Sports Association ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors 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 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.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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 methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
I R Futcher FCA
Dial Square Associates Limited Chartered Accountants 9 St George's Yard Farnham Surrey GU9 7LW
Date: .............................................
Page 2
The UK Armed Forces Winter Sports Association
Statement of Financial Activities for the Year Ended 30 September 2024
| 30.9.24 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 571,585 Other trading activities 2 6,769 Investment income 3 3,561 Other income 103 Total 582,018 EXPENDITURE ON Charitable activities Honorariums 2,400 Officers expenses 6,582 Meeting expenses 208 General expenses 19,026 Clothing and equipment - Event expenses 513,737 Total 541,953 Net gains/(losses) on investments 2,341 NET INCOME 42,406 RECONCILIATION OF FUNDS Total funds brought forward 238,993 TOTAL FUNDS CARRIED FORWARD 281,399 |
30.9.23 Total funds £ 515,711 10,695 2,704 60 529,170 2,200 5,296 280 25,212 48 487,670 520,706 (2,167) 6,297 232,696 238,993 |
|---|---|
The notes form part of these financial statements
Page 3
The UK Armed Forces Winter Sports Association
Balance Sheet 30 September 2024
| 30.9.24 Unrestricted fund Notes £ FIXED ASSETS Investments 7 36,599 CURRENT ASSETS Debtors 8 61,622 Cash at bank 203,207 264,829 CREDITORS Amounts falling due within one year 9 (20,029) NET CURRENT ASSETS 244,800 TOTAL ASSETS LESS CURRENT LIABILITIES 281,399 NET ASSETS 281,399 FUNDS 10 Unrestricted funds 281,399 TOTAL FUNDS 281,399 |
30.9.23 Total funds £ 34,258 136,597 184,102 320,699 (115,964) 204,735 238,993 238,993 238,993 238,993 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. R Haldenby - Trustee
The notes form part of these financial statements
Page 4
The UK Armed Forces Winter Sports Association
Cash Flow Statement for the Year Ended 30 September 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash provided by operating activities Cash flows from investing activities Interest received Dividends received Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
30.9.24 £ 17,958 (2,414) 15,544 2,104 1,457 3,561 19,105 184,102 203,207 |
30.9.23 £ 82,151 (4,945) 77,206 1,313 1,391 2,704 79,910 104,192 184,102 |
|---|---|---|
The notes form part of these financial statements
Page 5
The UK Armed Forces Winter Sports Association
Notes to the Cash Flow Statement for the Year Ended 30 September 2024
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: (Gain)/losses on investments Interest received Interest paid Dividends received Decrease in debtors (Decrease)/increase in creditors Net cash provided by operations |
30.9.24 £ 42,406 (2,341) (2,104) 2,414 (1,457) 74,975 (95,935) 17,958 |
30.9.23 £ 6,297 2,167 (1,313) 4,945 (1,391) 23,465 47,981 82,151 |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| Net cash | At 1.10.23 Cash flow At 30.9.24 £ £ £ |
|---|---|
| Cash at bank | 184,102 19,105 203,207 |
| 184,102 19,105 203,207 |
|
| Total | 184,102 19,105 203,207 |
The notes form part of these financial statements
Page 6
The UK Armed Forces Winter Sports Association
Notes to the Financial Statements for the Year Ended 30 September 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
3.
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 30.9.24 | 30.9.23 | |
| £ | £ | |
| Recharge income | 6,769 | 10,695 |
| INVESTMENT INCOME | ||
| Other participating interests | 30.9.24 £ 1,457 |
30.9.23 £ 1,391 |
| Deposit account interest | 2,104 | 1,313 |
| 3,561 | 2,704 |
Page 7
continued...
The UK Armed Forces Winter Sports Association
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
4. SUPPORT COSTS
| General expenses Support costs, included in the above, are as follows: Interest payable and similar charges Wages Insurance Telephone Postage and stationery Sundries Accountancy fees Legal fees Computer costs Travel expenses Laundry |
Governance Finance costs Totals £ £ £ 2,414 16,612 19,026 30.9.24 30.9.23 General Total expenses activities £ £ 2,414 4,945 10,424 10,566 1,141 1,094 428 416 474 923 567 565 1,306 1,805 329 1,258 1,036 1,155 - 2,485 907 - 19,026 25,212 |
|---|---|
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
Trustees' expenses
During the year there were expenses of £6,790 (2023 - £5,576) incurred on behalf of the trustees.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
|---|---|
| Donations and legacies | 515,711 |
| Other trading activities | 10,695 |
| Investment income | 2,704 |
| Other income | 60 |
| Total | 529,170 |
| EXPENDITURE ON | |
| Charitable activities | |
| Honorariums | 2,200 |
| Officers expenses | 5,296 |
| Meeting expenses | 280 |
| General expenses | 25,212 |
| Clothing and equipment | 48 |
| Event expenses | 487,670 |
| Total | 520,706 |
| Net gains/(losses) on investments | (2,167) |
| NET INCOME | 6,297 |
Page 8
continued...
The UK Armed Forces Winter Sports Association
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
----- Start of picture text -----
|||
|---|---|
|Unrestricted|
|fund|
|£|
|RECONCILIATION OF FUNDS|
|Total funds brought forward|232,696|
|TOTAL FUNDS CARRIED FORWARD|238,993|
|FIXED ASSET INVESTMENTS|
|Listed|
|investments|
|£|
|MARKET VALUE|
|At 1 October 2023|34,258|
|Revaluations|2,341|
|At 30 September 2024|36,599|
|NET BOOK VALUE|
|At 30 September 2024|36,599|
|At 30 September 2023|34,258|
|There were no investment assets outside the UK.|
|Cost or valuation at 30 September 2024 is represented by:|
----- End of picture text -----
7. FIXED ASSET INVESTMENTS
----- Start of picture text -----
|||
|---|---|
|Listed|
|investments|
|£|
|Valuation in 2022|(3,808)|
|Valuation in 2023|(2,167)|
|Valuation in 2024|2,341|
|Cost|40,233|
|36,599|
----- End of picture text -----
The fixed asset investments were valued on an open market basis on 30 September 2024 by Blackrock Investment Management.
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
----- Start of picture text -----
||||
|---|---|---|
|30.9.24|30.9.23|
|£|£|
|Other debtors|61,622|136,597|
----- End of picture text -----
Page 9
continued...
The UK Armed Forces Winter Sports Association
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 10. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the Unrestricted funds General fund TOTAL FUNDS |
At 1.10.23 £ 238,993 238,993 follows: Incoming Resources resources expended £ £ 582,018 (541,953) 582,018 (541,953) At 1.10.22 £ 232,696 232,696 above are as follows: Incoming Resources resources expended £ £ 529,170 (520,706) 529,170 (520,706) |
30.9.24 30.9.23 £ £ 20,029 115,964 Net movement At in funds 30.9.24 £ £ 42,406 281,399 42,406 281,399 Gains and Movement losses in funds £ £ 2,341 42,406 2,341 42,406 Net movement At in funds 30.9.23 £ £ 6,297 238,993 6,297 238,993 Gains and Movement losses in funds £ £ (2,167) 6,297 (2,167) 6,297 |
|---|---|---|
Page 10
continued...
The UK Armed Forces Winter Sports Association
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.10.22 £ 232,696 232,696 |
Net movement in funds £ 48,703 48,703 |
At 30.9.24 £ 281,399 281,399 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 1,111,188 (1,062,659) TOTAL FUNDS 1,111,188 (1,062,659) |
Gains and Movement losses in funds £ £ 174 48,703 174 48,703 |
|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2024.
Page 11
The UK Armed Forces Winter Sports Association
Detailed Statement of Financial Activities for the Year Ended 30 September 2024
| 30.9.24 | 30.9.23 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 571,585 | 515,711 |
| Other trading activities | ||
| Recharge income | 6,769 | 10,695 |
| Investment income | ||
| Other participating interests | 1,457 | 1,391 |
| Deposit account interest | 2,104 | 1,313 |
| Other income | 3,561 | 2,704 |
| Other income | 103 | 60 |
| Total incoming resources | 582,018 | 529,170 |
| EXPENDITURE | ||
| Charitable activities | ||
| Honorariums | 2,400 | 2,200 |
| Officials expenses | 6,582 | 5,296 |
| Meeting expenses | 208 | 280 |
| Event expenses | 513,737 | 487,670 |
| Clothing and equipment | - | 48 |
| Support costs | 522,927 | 495,494 |
| Finance | ||
| Credit card charges | 2,414 | 4,945 |
| Governance costs | ||
| Wages | 10,424 | 10,566 |
| Insurance | 1,141 | 1,094 |
| Telephone | 428 | 416 |
| Postage and stationery | 474 | 923 |
| Sundries | 567 | 565 |
| Accountancy fees | 1,306 | 1,805 |
| Legal fees | 329 | 1,258 |
| Computer costs | 1,036 | 1,155 |
| Travel expenses | - | 2,485 |
| Laundry | 907 | - |
| 16,612 | 20,267 | |
| Total resources expended | 541,953 | 520,706 |
| Net income | 40,065 | 8,464 |
This page does not form part of the statutory financial statements
Page 12
REGISTERED COMPANY NUMBER: 07033277 (England and Wales) REGISTERED CHARITY NUMBER: 1138305
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 September 2024
for
The UK Armed Forces Winter Sports Association
Dial Square Associates Limited Chartered Accountants 9 St George's Yard Farnham Surrey GU9 7LW
The UK Armed Forces Winter Sports Association
Contents of the Financial Statements for the Year Ended 30 September 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Cash Flow Statement | 5 | ||
| Notes to the Cash Flow Statement | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
The UK Armed Forces Winter Sports Association
Report of the Trustees for the Year Ended 30 September 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07033277 (England and Wales)
Registered Charity number 1138305
Registered office Alexandra House St Johns Street Salisbury Wiltshire SP1 2SB
Trustees Brigadier R Haldenby Group Capt M L Cunningham Major Gene D Crook Hm Forces Army (resigned 9.5.24) Captain J Woodard Hm Forces Royal Navy (resigned 3.5.24) Commodore R Harris T J Davey (appointed 3.5.24) J E Fossey (appointed 9.5.24)
Company Secretary Wilsons (Company Secretaries) Limited
Independent Examiner I R Futcher FCA Dial Square Associates Limited Chartered Accountants 9 St George's Yard Farnham Surrey GU9 7LW Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Brigadier R Haldenby - Trustee
Page 1
Independent Examiner's Report to the Trustees of The UK Armed Forces Winter Sports Association
Independent examiner's report to the trustees of The UK Armed Forces Winter Sports Association ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors 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 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.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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 methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
I R Futcher FCA
Dial Square Associates Limited Chartered Accountants 9 St George's Yard Farnham Surrey GU9 7LW
Date: .............................................
Page 2
The UK Armed Forces Winter Sports Association
Statement of Financial Activities for the Year Ended 30 September 2024
| 30.9.24 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 571,585 Other trading activities 2 6,769 Investment income 3 3,561 Other income 103 Total 582,018 EXPENDITURE ON Charitable activities Honorariums 2,400 Officers expenses 6,582 Meeting expenses 208 General expenses 19,026 Clothing and equipment - Event expenses 513,737 Total 541,953 Net gains/(losses) on investments 2,341 NET INCOME 42,406 RECONCILIATION OF FUNDS Total funds brought forward 238,993 TOTAL FUNDS CARRIED FORWARD 281,399 |
30.9.23 Total funds £ 515,711 10,695 2,704 60 529,170 2,200 5,296 280 25,212 48 487,670 520,706 (2,167) 6,297 232,696 238,993 |
|---|---|
The notes form part of these financial statements
Page 3
The UK Armed Forces Winter Sports Association
Balance Sheet 30 September 2024
| 30.9.24 Unrestricted fund Notes £ FIXED ASSETS Investments 7 36,599 CURRENT ASSETS Debtors 8 61,622 Cash at bank 203,207 264,829 CREDITORS Amounts falling due within one year 9 (20,029) NET CURRENT ASSETS 244,800 TOTAL ASSETS LESS CURRENT LIABILITIES 281,399 NET ASSETS 281,399 FUNDS 10 Unrestricted funds 281,399 TOTAL FUNDS 281,399 |
30.9.23 Total funds £ 34,258 136,597 184,102 320,699 (115,964) 204,735 238,993 238,993 238,993 238,993 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. R Haldenby - Trustee
The notes form part of these financial statements
Page 4
The UK Armed Forces Winter Sports Association
Cash Flow Statement for the Year Ended 30 September 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash provided by operating activities Cash flows from investing activities Interest received Dividends received Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
30.9.24 £ 17,958 (2,414) 15,544 2,104 1,457 3,561 19,105 184,102 203,207 |
30.9.23 £ 82,151 (4,945) 77,206 1,313 1,391 2,704 79,910 104,192 184,102 |
|---|---|---|
The notes form part of these financial statements
Page 5
The UK Armed Forces Winter Sports Association
Notes to the Cash Flow Statement for the Year Ended 30 September 2024
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: (Gain)/losses on investments Interest received Interest paid Dividends received Decrease in debtors (Decrease)/increase in creditors Net cash provided by operations |
30.9.24 £ 42,406 (2,341) (2,104) 2,414 (1,457) 74,975 (95,935) 17,958 |
30.9.23 £ 6,297 2,167 (1,313) 4,945 (1,391) 23,465 47,981 82,151 |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| Net cash | At 1.10.23 Cash flow At 30.9.24 £ £ £ |
|---|---|
| Cash at bank | 184,102 19,105 203,207 |
| 184,102 19,105 203,207 |
|
| Total | 184,102 19,105 203,207 |
The notes form part of these financial statements
Page 6
The UK Armed Forces Winter Sports Association
Notes to the Financial Statements for the Year Ended 30 September 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
3.
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 30.9.24 | 30.9.23 | |
| £ | £ | |
| Recharge income | 6,769 | 10,695 |
| INVESTMENT INCOME | ||
| Other participating interests | 30.9.24 £ 1,457 |
30.9.23 £ 1,391 |
| Deposit account interest | 2,104 | 1,313 |
| 3,561 | 2,704 |
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continued...
The UK Armed Forces Winter Sports Association
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
4. SUPPORT COSTS
| General expenses Support costs, included in the above, are as follows: Interest payable and similar charges Wages Insurance Telephone Postage and stationery Sundries Accountancy fees Legal fees Computer costs Travel expenses Laundry |
Governance Finance costs Totals £ £ £ 2,414 16,612 19,026 30.9.24 30.9.23 General Total expenses activities £ £ 2,414 4,945 10,424 10,566 1,141 1,094 428 416 474 923 567 565 1,306 1,805 329 1,258 1,036 1,155 - 2,485 907 - 19,026 25,212 |
|---|---|
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
Trustees' expenses
During the year there were expenses of £6,790 (2023 - £5,576) incurred on behalf of the trustees.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
|---|---|
| Donations and legacies | 515,711 |
| Other trading activities | 10,695 |
| Investment income | 2,704 |
| Other income | 60 |
| Total | 529,170 |
| EXPENDITURE ON | |
| Charitable activities | |
| Honorariums | 2,200 |
| Officers expenses | 5,296 |
| Meeting expenses | 280 |
| General expenses | 25,212 |
| Clothing and equipment | 48 |
| Event expenses | 487,670 |
| Total | 520,706 |
| Net gains/(losses) on investments | (2,167) |
| NET INCOME | 6,297 |
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continued...
The UK Armed Forces Winter Sports Association
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
----- Start of picture text -----
|||
|---|---|
|Unrestricted|
|fund|
|£|
|RECONCILIATION OF FUNDS|
|Total funds brought forward|232,696|
|TOTAL FUNDS CARRIED FORWARD|238,993|
|FIXED ASSET INVESTMENTS|
|Listed|
|investments|
|£|
|MARKET VALUE|
|At 1 October 2023|34,258|
|Revaluations|2,341|
|At 30 September 2024|36,599|
|NET BOOK VALUE|
|At 30 September 2024|36,599|
|At 30 September 2023|34,258|
|There were no investment assets outside the UK.|
|Cost or valuation at 30 September 2024 is represented by:|
----- End of picture text -----
7. FIXED ASSET INVESTMENTS
----- Start of picture text -----
|||
|---|---|
|Listed|
|investments|
|£|
|Valuation in 2022|(3,808)|
|Valuation in 2023|(2,167)|
|Valuation in 2024|2,341|
|Cost|40,233|
|36,599|
----- End of picture text -----
The fixed asset investments were valued on an open market basis on 30 September 2024 by Blackrock Investment Management.
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
----- Start of picture text -----
||||
|---|---|---|
|30.9.24|30.9.23|
|£|£|
|Other debtors|61,622|136,597|
----- End of picture text -----
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continued...
The UK Armed Forces Winter Sports Association
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 10. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the Unrestricted funds General fund TOTAL FUNDS |
At 1.10.23 £ 238,993 238,993 follows: Incoming Resources resources expended £ £ 582,018 (541,953) 582,018 (541,953) At 1.10.22 £ 232,696 232,696 above are as follows: Incoming Resources resources expended £ £ 529,170 (520,706) 529,170 (520,706) |
30.9.24 30.9.23 £ £ 20,029 115,964 Net movement At in funds 30.9.24 £ £ 42,406 281,399 42,406 281,399 Gains and Movement losses in funds £ £ 2,341 42,406 2,341 42,406 Net movement At in funds 30.9.23 £ £ 6,297 238,993 6,297 238,993 Gains and Movement losses in funds £ £ (2,167) 6,297 (2,167) 6,297 |
|---|---|---|
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continued...
The UK Armed Forces Winter Sports Association
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.10.22 £ 232,696 232,696 |
Net movement in funds £ 48,703 48,703 |
At 30.9.24 £ 281,399 281,399 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 1,111,188 (1,062,659) TOTAL FUNDS 1,111,188 (1,062,659) |
Gains and Movement losses in funds £ £ 174 48,703 174 48,703 |
|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2024.
Page 11
The UK Armed Forces Winter Sports Association
Detailed Statement of Financial Activities for the Year Ended 30 September 2024
| 30.9.24 | 30.9.23 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 571,585 | 515,711 |
| Other trading activities | ||
| Recharge income | 6,769 | 10,695 |
| Investment income | ||
| Other participating interests | 1,457 | 1,391 |
| Deposit account interest | 2,104 | 1,313 |
| Other income | 3,561 | 2,704 |
| Other income | 103 | 60 |
| Total incoming resources | 582,018 | 529,170 |
| EXPENDITURE | ||
| Charitable activities | ||
| Honorariums | 2,400 | 2,200 |
| Officials expenses | 6,582 | 5,296 |
| Meeting expenses | 208 | 280 |
| Event expenses | 513,737 | 487,670 |
| Clothing and equipment | - | 48 |
| Support costs | 522,927 | 495,494 |
| Finance | ||
| Credit card charges | 2,414 | 4,945 |
| Governance costs | ||
| Wages | 10,424 | 10,566 |
| Insurance | 1,141 | 1,094 |
| Telephone | 428 | 416 |
| Postage and stationery | 474 | 923 |
| Sundries | 567 | 565 |
| Accountancy fees | 1,306 | 1,805 |
| Legal fees | 329 | 1,258 |
| Computer costs | 1,036 | 1,155 |
| Travel expenses | - | 2,485 |
| Laundry | 907 | - |
| 16,612 | 20,267 | |
| Total resources expended | 541,953 | 520,706 |
| Net income | 40,065 | 8,464 |
This page does not form part of the statutory financial statements
Page 12