**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:
- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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 .... .
- 1 -
**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: .............................................
- 2 -
**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:
- 1 accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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
- 4 the financial statements 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 financial statements to be reached.
## **Thomas Quinn**
15 Station Road St Ives Cambridgeshire PE27 5BH
Dated: .........................
- 3 -
**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.
- 4 -
## **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)
- 5 -
**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|
|---|---|---|---|---|
- 6 -
**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.
- 7 -
**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.
- 8 -
**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.
- 9 -
**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|
- **4 Income from charitable activities**
- 10 -
**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|
- 11 -
**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.
- 12 -
**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|
- 13 -
**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|
||||
- 14 -
**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|
- 15 -
**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.
- 16 -
**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.
- 17 -