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2023-06-30-accounts

Draft Financial Statements at 04 January 2024 at 08:31:30

Charity registration number 1139247

Company registration number 07295737 (England and Wales)

POLICE FIREARMS OFFICERS ASSOCIATION LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees David Keen
Angelo Deponeo
Carol-Anne Jackson
James Roger
Claire Batt
Steven Hartshorn
Senior management Mark Williams Chief Executive Officer
Charity number 1139247
Company number 07295737
Registered office The Station House
15 Station Road
St Ives
Cambridgeshire
PE27 5BH
Independent examiner Thomas Quinn
15 Station Road
St Ives
Cambridgeshire
PE27 5BH

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

CONTENTS

Page
report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Statement of cash flows 6
Notes to the financial statements 7 - 17

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 30 JUNE 2023

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Strategic report

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the Trustees to present a strategic report.

Achievements and performance

Significant activities and achievements against objectives

Financial review

Reserves policy

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

The Charity is a company limited by guarantee .... .

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

David Keen

Angelo Deponeo Carol-Anne Jackson James Roger Claire Batt Steven Hartshorn

Recruitment and appointment of trustees

Trustees can serve a fixed term of five years. This has been in place since January 2022. If Trustees for any reason may not be able to fulfil their role they may resign. If this is the case a process of discussion between the other Trustees in conjunction with the CEO will take place to appoint a replacement.

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Organisational structure

The PFOA currently has six Trustees [2022: seven]. The Trustees meet four times per year including the annual general meeting. During the Trustee meetings the CEO will give an overview of how the Charity is operating, including staffing and finances. The Charity's primary goal is to provide support to members and their families so there is much discussion around services provided and what else we can do to assist.

The charity's operations are led by Mark Williams, Chief Executive who reports directly to the board on a frequent basis.

The report, including the strategic report, was approved by the Board of Trustees.

..............................

Date: .............................................

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF POLICE FIREARMS OFFICERS ASSOCIATION LTD

I report to the Trustees on my examination of the financial statements of Police Firearms Officers Association Ltd (the Charity) for the year ended 30 June 2023.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity 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 the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, 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 that in any material respect:

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 financial statements to be reached.

Thomas Quinn

15 Station Road St Ives Cambridgeshire PE27 5BH

Dated: .........................

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
570,859
-
Charitable activities
Gift Aid
4
33,229
-
Other trading activities
5
11,455
-
Investments
6
1,473
-
Total income
617,016
-
Expenditure on:
Raising funds
7
35,229
-
Charitable activities
Provide Assistances
8
652,855
-
Other expenditure
4,757
-
Total expenditure
692,841
-
Net expenditure and
movement in funds
(75,825)
-
Reconciliation of funds:
Fund balances at 1 July 2022
302,753
15,784
Fund balances at 30 June
2023
226,928
15,784		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
570,859
529,423
-
33,229
68,788
-
11,455
858
-
1,473
79
-
617,016
599,148
-
35,229
30,173
-
652,855
655,900
-
4,757
-
-
692,841
686,073
-
(75,825)
(86,925)
-
318,537
389,678
15,784
242,712
302,753
15,784		 Total
2022
£
529,423
-
68,788
858
79
599,148
30,173
655,900
-
686,073
(86,925)
405,462
318,537

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

BALANCE SHEET

AS AT 30 JUNE 2023

Notes
Fixed assets
Tangible assets
13
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
The funds of the Charity
Restricted income funds
19
Unrestricted funds		 2023
£
11,012
52,470
240,339
303,821
114,591		 £
53,482
189,230
242,712
15,784
226,928
242,712		 2022
£
-
51,417
259,693
311,110
22,154		 £
29,581
288,956
318,537
15,784
302,753
318,537

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on .........................

..............................

Trustee

Company registration number 07295737 (England and Wales)

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2023

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
23
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(73,310)
30,000
1,473		 £
22,483
(41,837)
-
(19,354)
259,693
240,339		 2022
£
(1,056)
-
79		 £
(83,263)
(977)
-
(84,240)
343,933
259,693

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

1 Accounting policies

Charity information

Police Firearms Officers Association Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is The Station House, 15 Station Road, St Ives, Cambridgeshire, PE27 5BH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements 15% Reducing Balance
Fixtures and fittings 25% Reducing Balance
Computers 25% Reducing Balance
Motor vehicles 25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

1 Accounting policies

(Continued)

1.10 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 418,305 91,152
Government Grants - 88
Force Block Memberships 152,554 438,183
570,859 529,423
Donations and gifts
Regular Donations 310,477 -
Services Income (EAP) 81,602 -
General Donations 15,322 -
Sponsorships 10,904 -
Other - 91,152
418,305 91,152
Income from charitable activities
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Gift Aid
Gift Aid 33,229 68,788

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

5 Income from other trading activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Merchandise & Event Ticket Sales 11,455 858
6 Income from investments
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 1,473 79
7 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Fundraising and publicity
Maintaining and Expanding Membership Levels - 3,750
Staging fundraising events 17,039 12,005
Advertising 12,840 14,418
29,879 30,173
Trading costs
Merchandise Purchases 5,350 -
Total costs 35,229 30,173

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

8 Expenditure on charitable activities

Provide Provide
Assistances Assistances
2023 2022
£ £
Direct costs
Staff costs 192,596 175,780
Assistances - Treatments 216,182 369,209
Assistances - Welfare Days 30,253 -
Assistances - Other Services 42,446 -
PPP Telephone Costs 31,937 -
513,414 544,989
Share of support and governance costs (see note 9)
Support 98,919 86,836
Governance 40,522 24,075
652,855 655,900
Analysis by fund
Unrestricted funds 652,855 655,900
9 Support costs allocated to activities
2023 2022
£ £
Depreciation 14,652 7,181
Sundry 600 4,085
Staff Costs 14,382 4,107
Computer Systems 12,815 -
Telephone Systems 14,464 7,778
Printing, Postage, Stationery 7,678 10,427
Museum Expenditure 318 -
Travel & Transport 13,478 4,963
Rent, Rates, Utilities 17,444 27,438
Sponsorships 1,807 -
Repairs & Maintenance 1,281 20,857
Governance costs 40,522 24,075
139,441 110,911
Analysed between:
Provide Assistances 139,441 110,911

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

11 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
6
2023
£
173,036
16,148
3,412
192,596		 2022
Number
6
2022
£
161,800
10,433
3,547
175,780

There were no employees whose annual remuneration was more than £60,000.

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Tangible fixed assets

Tangible fixed assets
Leasehold
improvements
Fixtures and
fittings
Computers
£
£
£
Cost
At 1 July 2022
64,585
7,830
22,853
Additions
-
13,767
3,728
Disposals
-
(2,298)
(879)
At 30 June 2023
64,585
19,299
25,702
Depreciation and impairment
At 1 July 2022
45,945
4,044
15,698
Depreciation charged in the year
2,796
4,991
2,149
Eliminated in respect of disposals
-
(2,039)
(642)
At 30 June 2023
48,741
6,996
17,205
Carrying amount
At 30 June 2023
15,844
12,303
8,497
At 30 June 2022
18,640
3,786
7,155		 Motor
vehicles
£
-
55,815
(38,245)
17,570
-
4,716
(3,984)
732
16,838
-		 Total
£
95,268
73,310
(41,422)
127,156
65,687
14,652
(6,665)
73,674
53,482
29,581

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

14
Stocks
Merchandise
15
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
16
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
17
Trade creditors
Other creditors
Accruals and deferred income
17
Deferred income
Arising from Block Memberships
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:		 2023
£
11,012
2023
£
9,999
-
42,471
52,470
2023
£
3,458
104,643
250
1,605
4,635
114,591
2023
£
104,643
2023
£
104,643		 2022
£
-
2022
£
6,200
23,421
21,796
51,417
2022
£
2,612
13,417
-
1,625
4,500
22,154
2022
£
13,417
2022
£
13,417

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

17
Deferred income
Deferred income at 1 July 2022
Released from previous periods
Resources deferred in the year
Deferred income at 30 June 2023		 (Continued)
13,417
20,700
(13,417)
(20,700)
104,643
13,417
104,643
13,417

18 Retirement benefit schemes

Defined contribution schemes

The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £3,412 (2022 - £3,547).

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 July 2022
At
£
15,784
Previous year:
At 1 July 2021
At
£
15,784		 30 June
2023
£
15,784
30 June
2022
£
15,784

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 July 2022 Incoming Resources At 30 June
resources expended 2023
£ £ £ £
General funds 302,753 617,016 (692,841) 226,928

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

20 Unrestricted funds (Continued)
Previous year: At 1 July 2021 Incoming Resources At 30 June
resources expended 2022
£ £ £ £
General funds 389,678 599,148 (686,073) 302,753
21 Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
Fund balances at 30 June 2023 are represented by:
Tangible assets 53,482 - 53,482
Current assets/(liabilities) 173,446 15,784 189,230
226,928 15,784 242,712
Unrestricted Restricted Total
funds funds
2022 2022 2022
£ £ £
Fund balances at 30 June 2022 are represented by:
Tangible assets 29,581 - 29,581
Current assets/(liabilities) 273,172 15,784 288,956
302,753 15,784 318,537

22 Related party transactions

PFOA Training Services Ltd - M Williams, CEO, is one of three directors and shareholders of PFOA Training Services Ltd.

PFOA Welfare Services Ltd - M Williams, CEO, is a director and shareholder of PFOA Welfare Services Ltd. During the year PFOA Welfare Services Ltd charged the charity £30,275 for the support phone line service which provides assistance to the charity's members, prior to its move to a new system.

PFOA Museum Ltd - M Williams, CEO, is the sole director and shareholder of PFOA Museum Ltd. The charity paid £318 in expenses on behalf of PFOA Museum Ltd which remains a dormant company.

Draft Financial Statements at 04 January 2024 at 08:31:30 POLICE FIREARMS OFFICERS ASSOCIATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

23 Cash generated from operations 2023 2022
£ £
Deficit for the year (75,825) (86,925)
Adjustments for:
Investment income recognised in statement of financial activities (1,473) (79)
Loss on disposal of tangible fixed assets 4,757 -
Depreciation and impairment of tangible fixed assets 14,652 7,181
Movements in working capital:
(Increase) in stocks (11,012) -
(Increase)/decrease in debtors (1,053) 3,895
Increase/(decrease) in creditors 1,211 (52)
Increase/(decrease) in deferred income 91,226 (7,283)
Cash generated from/(absorbed by) operations 22,483 (83,263)

24 Analysis of changes in net funds

The Charity had no debt during the year.