Reglsteved numb•r. 09617543 Charlty numb•r: 1167331 THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION (A Company Umlted by Guarantse) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS For tho yoar endod 30 Jun• 2021
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION (A Company LinMt•d by Guarant•) cop¥rENTS Page R•f•rwco and Admlnl•tratlv• D•tah of the Ch•rlty. It• TnMt••s •nd Advl••r4 Trusts••' R•port Ind•p•nd•nt Examln•rf8 Report Stat•m•nt of Flnancl4 Athitl•• B•lanc• Sh••t Not•• lo th• Fln•ncl•l Stst•m•nts 10-18
THE BRMSH SKI & SNOWBOARD NATIONAL FOUNDATION (A Comp•ny Limit•d by Guarant•• REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARITY. ITS TRiISTEES AND ADVISERS For the y•ar end¢d 30 Jun• 2021 Trust• Sir John RAblat. Charrnan Mlchael Cohen (appointed 21 Mw¢h 221} Go8lng OBE Sarah Lewis Iresuned 29 January 21Y22) Nicholas Tapn•r Company r•gh5tsr•d nrnr 09817543 Charlty r•gknt•r•d numb•r 1187331 R•ght•r•d offk• 101 Cavendlth Slroet London W1W6XH Accountsnts Ind Indendent Examln•r Martln Bai Goodman Jonés LLP Chartered Accountsnts 29130 Fl* Square London W1T6LQ 8ank•r4 Ro1 Bank d Seolland London Corporat• Bank Centre PO Box 39952 212 Devonshlre Squarn LoTKlon EC2M 4XJ Page 1
THE BRMSH SKI & SNOWBOARD NA71014AL FOUNDATION IA clpanY Llrnlt by Guarant•• TRUSTEES, REPORT For the ygar •nd•d 30 June 2021 The Tru8to98 preaent tsir Amual Rgport trythr the fina181 swrfnts of the Charity for th• year 1 Juty 2020 to 30 June 2021. The Annual Report skns the purposes of both a Tru81ees' Report and a Dir&torn' Report under company Iww. The Trustees confirm that Annual R•wrt and FInclaI Statemènts of th8 charitable CpanY compty with the ¢urrent statutw requir15. the requirements of the chartsble compan15 governing (kjcument th8 PrSn# of the Smwnenl d Rxommended PM¢tice {SORPI applThble to Chare$ preparirvJ their xcounts wi ryanCe w7th the FinwKi81 Retthng StsrKlard awicab In the UK and RebI of Irel&MI (FRS1021 I6¢1] 1 JUIry 2019>. &nce tro CPrity qualMe8 u 8rnal Lwthr Sect W2 of th• CMwniK Act 2(Th, tho Strryk R•port roqulred of medium arxl larg6 ctynpanies und•r can Act 2006 (stratty Report and DirectorB' Rewt} Re9ulatir)n8 2013 has been unitted. ObJ•¢llv•• and XIMU . Pollcl•s and obl•Gtfv Th• objxts ofThe Brtllsh Ski & Srvknrd Nation•1 Foundatlon fBSSNP or Ih• Ch•rV) aro- to promote community portKipakn In health recrealth by pTh#l#ig faclliti88 or opportunitiu for partlcipating in skiing, sntywbowding. arKI other snwrt rfxL¥b'e8" mean¥ land, buildlngs. ¢qUpmI, and rAganlng sporting 6vwts}'. lo provide and a•8i8t in fa¢111 for 8prf leac or olhw l••ure tim• c¢cupatit)n of such por8<Jn8 who ha need ts such facs by rea80n of thelr youth, •Jè. infimiNy or diSablent. poverty or 8c¢i•l or Konomk ck¢umstance or for tho pubk at lary n the IntmlI of xKql weifor• aThJ wlih Ihe otyect of irnprovlng thalr Condrts of lrfé.. to thnce the eAlucallffi ol childrnn WKI jn9 p•(pk•. b. Actlvftl•• und•rtak•n to •chl•v• obJ•cthi The FIJUndatK conlnwd to bwk b•rrm thi8 8686on. the mwry and dIff1t chalkng88 f¥¢1 during the year, in¢ludirY4 the Covi&19 pandgmic m51d in etynpotrtKn and tralning in the pathway programmes. Ov¢r the r. lh8 Charity stkl continu•J to enJlo aspiring athletes to $pend more lim• on th• snLw where po$619 and mov¢d tr•ining online Inaccessth to furtlw devebp I11r sklls. The Charlty ensured financlal constrnt j•oparfiM tonI•d hles from fiAfdiing thelr Sporlng potential or startiry a nthv vinter Iport. It al 21 athlth including 5 Para Athlgtes and 4 malc prcied8. c. Main actlvltl•s undortak•n tofurth•r th• Charl purpo¥•s forthe publk b•nofft In 8èttKu objectNes and pknnniry for acti]¢$. the Truste8s have gn due consvjeratfjon to generaf guidance published by the Charrty c(YnmL88 Tdating to pthlic includirvj thg guid8nce 'PublK benofil.. running 8 charity IP82)'. and this ha8 been a key¢oMkleralion lAtn 8etting its grw*ffjaking polw. The Charty sUpp)rtJ bclh indthaual athletes Prcixts that Ir c(¥nmunty and grassroots partieipalion in snowsport. arvj we have ensured that th8re r6 a suttable barfj betsen both of ttrae priorities to fulfill our oblpjalions regarding publ bor. Page 2
THE BRITISH SKI & SPIOWBOW NATIONAL FOUNDATION (A Cmipany Umlt•d by Guarantso) TRUSTEES. REPORT IcoKfiNUEO) For the year ond•d 30 June 2021 Achl¢vom•nts ond p•rfornwic• . Rovlvw ol actlvlll Dur¥w the financk81 ywr, Ch¥ity l&Urhed iti lourth round of fft4naklng 4Ctr¥ity to enjure tha m1 deserving young pe1• receibd grants, we invited GB Snvwsports and th8 Home Natbons 8nQFrt (xganl8alon8 to nominat8 urj •thlets8. Athletes then comFl8led an applution, expLw'ning why Ilw had a fina181 noed for a8skntan¢¢. Th? TrUe66 th8n dttKl•d hIre grants M>uld make tho grnaté#t vnpad. Th• Charity grants to 21 yowvJ atl48tO8. W baln 14 and 21. WI partupato acN188 Many •n(Y•VSPOrt discip1w and S para sn(Y4VSPOrt hlet81. In our evaluation of ts granl4nak4w, reciy'en18 rèported that the funds IrL¥n the Charty hgd enabled them to take the next 81ty in their sporting journay. Our SOnd granlwmaking str•am in the yw was for pr4cts Impact grai#rty)ts pwticvgats'cffl and pathw4y programmag In ¥n¢y4WOrt. Her• Ch&ty 8UPFQrtthl 4 k•y woixt8. b. 202W21 grant r•¢lphThts PrnJ•ct Bal•nc• Th6 Ch•rfly was to 8LPPtyt pIe¢t 88nCe, wthlch wa8 laun¢hed in PA8y 21. and dthrf8ed to ¢reat6 now connections b8hve6n young peopk• i) enwronments and Britain's 8nowsport 8¢gn? in the aT ahead of the 2022 otnple and Paratympic Winl•r G•$ in Bèrying. 0ring skatetr)arding 18sson8 that v $IfiCallY laikrgd to buihj the skils th•1 fomi the fcmjndallon for $nvhto8rdinq. the pn)iect aimed to offer young op18 8n introdudb)n to Irnrb8fe skills that can bo put into pkqce li edUcatn and in their wid8r lives. The project culminated with a ¥i$it to The Sr#yw Centre in Hgmel Hwnp8tead. where Itw werè givèn th& ¢)PPOrtunity to wt thèir rxw 8kill8 into prxtice on the $nN athJ8ide rrmbers of th• GB Sn(yw8POrt Te. Vicky G081kn9. BSSNF Trusts• and Chief Exuln of GB Swport 8aJ'. "L8unchlng Pn)i8cI Balance Is 8 Tr&Vy mpc¥t&ryt mAleSt for GB SnowSpt AS budd Iow8th next yearf8 OlympK and Paralympic nter Games. K is so iinpytanl t11 we show yotw people acn$ tho natil that OU is a lamty ofs1$ thel and can b6 rnlev8nl for them- wh8lherthey wh lo b& an athletfj, a particwn¢ C08ch or a fan. Wein detenned to frnsurn our spLyts am more morn to reach Lnrt to new 8nd drflerenl CLynmuThllo5. ond Propd s16p on Ihalit)unw." Tha Moguls Pffogrnmm• The Charty also SUPFrfjrt the Moguls PTryJramme. Ihrwgh the of an Assistant Cogch that aimed to accelerate the Succws of the yDung and taknnted hletes on programme. Moguls ¢urrenVy no UK Sport funding, but wll appear in the 0pIC schedule in 2028. Thi$ 8LfJPft eniure Tewn GB am ready for thi8 1)pwtunty as they build an incredble pthvay. Alpln• Pathway Prngrnmm• The Chanty VAS delvJhled to siwwt th8 European Cup Tewn through the wo¥IOn pemlanent winleT mm¢yJatN)n in France to enabb acces8 to great trnin¥vJ fxthtses srHx. This the8e athtes lo C8lera8 Ihwrjourrw in 8 uitKal ypar. Page 3
THE BRITISH SKI & SNObVBOARD NATIONAL FOUNDATION IA Comp•ny Llmlt•d by Guarnnt••) TRUSTEES. REPORT ICONTINUED) For the yur •nd•d 30 nfr 2021 Achlevements and rIOanCe Ic¢11n•d) . 2020121 gIt rnclpl•nts l¢on¢lnwd) school Roll•rnkl ProJ•ct Tho swr tho Charlty suppu a pw4ea that ifflpK Some of the most deprId 8chod chlklren In Scotknd by prowding them Vth LTrPOrtunty to knam ond devekp a new 8PCAt Ihty would never have had the cpportunity lo experiance. Sn(MBwt sClnd rc4knki Jessic8 School playYJrourvJs across the country ov•r a park of ofight vn•k8, impactirfj 1,81Y) Sch11 children. Indl¥ldu•l Athl•t• Grnnts Thg 21 redplents cl our Indiv[ AtNe Grants affknj by of ¢ts related to COVID19. Support frryn BSSNF alth4d them to conllrth the Gr41 K)rk required to alknv them to compete at the hyhail18vo1. A$ g JerviTrJ member of thè Am)ed Forc6¥, SAC Shom Brnwrloè li b¢Ah 8 mu¥Ki&n and an InclIbl0 Para Alpine Sit Sklefl Herloumy h88 not bwn an easy one. Eight yearn ago, l ¥UstaIn a leg injury dUrf b&sk lrninry. It W8s onty ffly nNth w8ek In th8 RAF and I'd ba b8gun my c8rBer before Ihe 8ccKlent h8pp8n6d. What appe8r8d to be 8 Iw8ml spra d•velopgd Inlo a comtyK8led. p8infiA cOndith that 18#ed to he&l. Seven yeats lat&r. I lound myself still relwit ¢nrtchos wth nD of rncovery. &wgory I1 wortad I had 8xhau8tO dl twtmert options. Insle8d l opted for an 618CtNa. bebw th6 knee •tion. R6moviw my dam898d109 h•$ trans1orr my Ime for the bett8r. both prnfessi andpers.. A tru¢ inspiration of resillence and détgrmination wkl ensurn She 18 Unstoppab a SI buikl• on r experience at tho Par8tyThpie Gamw in Beijing 2022. Emm8 Peters aWaan lThYfvkW Grant Emma Peters has been supported by tho Found1 was four )ar8 w and has gon8 on to hOlnge some of the b88t In the From the age of 7, then her txolher became ffl bene e8neer. her w•d(ty e8Ce from h08plt815 wlth her ther was off lo th8 dry . From here it Soon barn? ? hctby, Iwth an addiction lo the adrendlne mBh provided arKI th¢ incredible •nvirorn•nt trnined in. Ncw it ij much than that x lhe drr¥8S to mp•ling at topl Peter8 Is now on tr to a¢hitiv¢ her iknate god and are pmthy to gupport that joumey. Her bioge8t challenge will be OfyinpiG q1Calm)n and remainlng Inlury free in this high risk sport that h88 become her pas¥Tr. Emma reports thal the BSSNF has •n)l•d Iw lo trw'n compgte more vAh 1888 Stre68 thLrt finarrial constraints,. In 20CQ Dan joinod the amiy and by 2008 he was seNng i)n tour in Afghanistan. An IED b1 &¥8y his18ft18g. deslToyfjd the muscle in his rigm leg ?d shattered his pelvis. It took Dan four yeats to recover after a number of operws and intWSP4e Ihorai)y in Headley crL Rebuikling his lrfe after expknsDn VAS a hLvJe task. So much had charwj. Dan was witrodLKed to h18 firnt tsste of Skiing. 11 wa5 the fitst time he'd sat in a sit 8ki- the fr8th it gavg hwn and the h of &Jrenaline meant that he wa$ instantly Iw>ed. "l knthv from that moment that I wa$ meant to ski.. Since this experience
THE BRMSH SKI & SNOWBOARD NATIONAL FOUNDATION (A Company Llmltod by Gu•rnntee) TRU8TEES' REPORT {CONTINUEDI For y•ar endgd 30 JUM 2021 Achi•v•m•nts and prfomwnG• (contlnu•d 81rn08t 5 ye8r8 ago Dan has been 8UPP¢)rted by Armed Forces Parn Snry•VaPOrt T&wn and BSSNF lo folh his dre$ to the Paralymplc Gamej. Hwr4J atteThJed the Paratyrynpic InSpiratn Programme in 2018 and after an éxtremdy SLrcca$sful s•08M this er, he knoks 581 to r8&h hfij gool. Fln•nclal rnvl•w Golng ¢onc•rn After making wpropriate anquiries. tho Tru81088 hav• a rnason10 eyyctation that the Ch8rty ha8 ad4uat• re8ourt¢8 lo continue in operatwjnal aStanCe for the foreseaabl8 lulure. For th18 f8an, they continue to ad th6 goino ccficem b•ii in prepthng th& financial 8latemts. Furth•f regarding the adoplKn of the g)ing concam 18 can b8 fwnd in pol••. RM•rv•• polcy The Chadty • po[Y of hokling #ufficient rnW• to cw Its pl•nn•d gr•)t4naklry tho level of wthlch ¢4n vary from lo or. N¢7W the Chanty is more 88labliihgd, rt has béen able to lId a ba ol fund8 and at th• balanc6 Shed date genwal lunds tiaW £707 {2020.' £24.7911 and r••trKt•d fundb Idallod £92.075 12020.. £82.780). G. Flnancl•l r•vlva7 A Charit10 foundalN)n continues lo bo main to the Charly. but IncrolAg our base of donor8 18 8 prkwty lor the Tru$lo85. As a rOlty charity. il h88 been impWl to wnrk with our 9ranl rgcipientj to bulld the 810ry of we support and hcw we m8 a dlfferon¢o. We are confidwrt that 7A have a 8trong Ind per8uaslve 8tory to eunm•t• to pthli81 donorn. Structurn, gov•rn•nc• and m•n•g•m•nt Conltltutlon The 8rknsh Ski & Snththard Nion81 FrAJndabffi is rngi8tered •$ a Charitab eonpany Imit•J by guarantso and was 8et up by • Memorsrbdum of A88C¢Ation. b. Mothod• of •ppolntment or •l•cllon of Tn The management of Charity is resp(rnibHty of the Trust el8ced wpted undw the tems ofth8 Memorandum ofA$sb.01L c. Organlutlonal gtnthr• and polkl•s British Ski & Sntyknoard National Foundatbn ha¥ a Trustee Board of fw. The Board 1$ resp(8)10 for the overall wnnirq of the CPrity. Th Charity8 Pthides of A88cthUM Set a minimum crf three TTuste•s, wNh no mwmum numb8r. Cfve Pegram sto(xl dtr•m as a Trust88 during the finwKial year. arKI mha81 Cohgn Wds appointed Trustee on 21 March 2021. Since Sarah Leis resigned on Ihe 29 January 2022. Page 5
THE BRrr18H SKI & SNOWBOARD NATIONAL FOUNDATK)N (A Company Llffllt•d by Guarant•0 TRUSTEES. REPORT IcopifwuEDI For th• fjr •nded 30 JUM 2021 Futur• othlook B9nd Ihls report, the Chwlty IkS forward to 8 of grovrth to exténd Ihe reach and impact t Charity can make. US the olj7npi aThJ Paralympics as a Wngbo8rd. BSSNF will contsnue lo en8ure fin9n8[ barfers, disokn'lty and access th not prev8nl oN)ortMltlès for all lo benefrt from the exh118r8Ung pow of snowswrL The Charity wll unrie tha UK sr¥yAsF#)rt sector thrc4yh backing koy wogrammes and Initlalivg that provldè 8cces8 and pathways into srK)wswirt. This will be ach¥8 through t Fillars of suppor( BSSNF Snowsport Ccnmunty Reach Programmes and 8SSNF Sno[1 Athlèto ACceratOr Programmas. Here, together vAth kay pathrs. VAII b8 ab to xceknalg perftYmanc6 joumeys for Great Britain'8 ywng t818ntsd Alhl8188 and provido sntrAtsport attO8S to all through 8UPPOrtlng kèy PAthway programm88, gr8$¥roots Inttlalives IndId81 4th GYanl8. Slal•m•nt of TnMt•••' T•¥poMlblllll•s Tho Trustee8 Ivtho ar¢ also the dlreckn3 of th8 Charlty for tho pwpose8 of ¢onpany Ipw) are respon8lble for preparbw Iha Trusteos. Report arKI Ihe financial statemenls In ))rdance wlth applicable law and Untt¢d lQngdom AcwJntiThJ Standwd8 (url9d Goneralty knountiry Prxlc•). Crynp8ny law rnquir6s the Tte to wepwe finwKlal statomonts each fmnclal . Urthr companylow, the Tru$lees must not approv8 tho fnanclal statements unless they are sawsfiwj that w gNè a true 8fKI fair view of the slate of affwrs ol the Charity arKI of b Incomlng re8Jr¢•6 and application of resources, Includhg Its Income and exponditiJr•, lof that pèrfod. In preparing these financial $tstgments. tho Trust8 are rwlred lo.. Select 8uttabk accounllng polkle8 and thon •prAy them c4n8lslenty. ob88Ne the methods and pdnclplès ol thè chare$ SORP IFRS 1021.. mak8 IJg8m9nts gnd ac¢ountrng è5Umatss that aro roasonablè prudgnt.. 8tale wheth&r apFAicablg UK knounling StsrMlard8 {FRS 102) h8ve boon fkAl, ?ubJgct lo any malerial dep4rtures dlscknsed and exained in ts lknanclal gtatements.. wepare th& finarthl 8talements on the gowig bosls unless It13 knapycfxhl• to pr•sum• that t Charlty VAI continu? In bu¥ine8J. The Trustse8 we ra6pon8ible for k09pwvJ adoquate accounllrs r6cord8 th81 8uffkItt lo strthv and 8W8ln Ihg Charftys transactions discbse tArtth rea$ab ac¢)Jrxy al 8ny time the financlal poslloon of Charlty and enable thern to ensure Ihal Ihe finan¢i81 $talomentB compty wth Ihe Cc4npanitis Act 2006. They are 80 respble for safeguarding the assets of the Charity and hence fty tsking rnasGfsabla 81op8 for the preventlon and dètecvon of fraud ond other irregular08. Appyoved by oTder oflhe membs of Ihe LKwd (rf TnJ8tees aThl glgned on th¢lr bohalf ty. Slr John Rltblal Chaiman Dale: 31 2ozE Pag8 6
THE BRITISH SKI & SNOWBOARD NATIOPIAL FOUNDATION IA Company LlmJt•d ty Guarant•e) INDEPENDENT EXAMINER'S REPORT For the y•ar ènd•d 30 June 2021 Ind•p•nd•nt Ex•mln•trs R•port to th• TnMt•M of Th• Brfllsh Skl & 3nowknard NailoMI Foundatlon llh• Charlty) I rwrt to the chwlty TnJstee8 my examinalion of tho ol lh• Chgty for the Ar endad 30 ne 2021. RMpon•lb4ltl•• and Ba•h of R•port A8 tho Tru81ees of the Charity land its thr10 for the purposes of c(¥npany lthvl you are re8ponsib for tho proparation of tre accounts in cordwKe with tho requirwnents of the Companw Act 2006 llh8 20 Pdl. HaviryJ satiafi8d my86if ttiat the accounts of the Ch•rty we not roqulr•d lo be 8udit•J under Part 16 of thè 20( Act and are elb3iblu for in¢pendent examlnati¢)n. I rewt In respxt of my examinatron of the Charity$ xcounts cathed OLrt urthr So¢t)n 145 of the Chariti08 Act 2011 Ilhe 2011 Acri. In carrying out my examinatn I h fouovffjd the Dlrection8 givon by tha Chwty Commis•M [11 145(5)(b} of the 2011 AGt. Ind•p•nd•nt Examln•rf• 8tat•m•nt I compht•d my •xwninion. l eonfirn) Ihat no mattern hrn coma to my attent1 in conn•ction V•ith the exomirwtion m• cause to bth1o. acwjnlwg wwv n(rt lept in r•Bpxt ol Chwty u required ty 386 cf 2008 Acl, or the accounts do not accord thoue rwd8: or the accounts do Gomply wlth the accounting requireménts ol •tion 396 of the 20 Act other Ih•n y requiremont th th• acwjnts a Irue f81¢ viv WItch is not a mattor con$kler•d a8 part ol Independ8nt examiiatKm,' rx th? accounts have ncA be8n Prepa in accordan ith the methods and prtsl8 of the Stalgmenl of R•commend•l Practice for and r•wliN by charities lapplkable to charities preparing thr accounts in accorda wih tho Financi Report St4rKlaTd ¥pl•ble in th8 UK and Republ of Irel IFRS 10211. I have no concerni WKI haw come acro88 matters in conMct¥)n vAth lh• •xaminthn to vthich attentn 8houtrJ b• dfwn in this report In ordgr to anabl• a proper under8tandirvJ of the accounts to bo This rowrt is made 8018ty to the ChariW¥ Trustees. as a bcrtly. in xccrfdancè with Part 4 of the Chariti68 (Accounts and Repts1 Regulalxns 2008. My has been undertaken so th•t I might state lo the Charity8 Tru8tee8 those matters I wn requwed to state lo th7 in an Independent Examins Report and for no othef purpose. To the fulkst extent pemiitted by 18w. I do n¢X accept or asSe re8pon8lbty to any¢)ne other than the Charity and the CharitV8 Trustee8 as a body, for rny or ftr tiws rawL S¥ned'. 064)4-22 Martln Balloy FCA Gocthian J3 LLP 29130 Frforoy Square London W1T6LQ Pa9e 7
THE BRMSH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company UM1t by Guar4nt••l STATEMENT OF FINANCIAL ACTivmES IINCORPWTING INCOME AND EXPENLYfuRE Accoumr) For tho yur •ndgd 30 Jun• 2021 Tot*1 fund¥ 2021 Tol fund• 20 fund$ 20 Donations and l•gaci88 31377 121,27T 113. 175 Total Incom• 31.277 121,277 113, 175 Exltur• on: Charitable 361 1,706 136,086 Totsl •xp•ndttur• f45,361 0.706 136.066 N•t mov•m•nt In fund• 124,084) 114.789) 33.619 R•con¢lll•llon of fund•: Totsl funds brought for4Yard Net mo¥ement in funds 24,791 {24.084) 82.780 9.296 107.671 {14,789 73.952 33,619 Total lund• ftI•d foThv• 707 92,075 92.782 107,571 Th• St4t•ment of Fliaal Acts¥ibe8 all gains loM•s r•c4gniwl n the yow. T not•8 on pages 10 to 18 fom) W af th#• fffianci•l stalement8. Page 8
THE BRrrisH SKI & 8NOWBOARD NATKINAL FOUNDATION IA Company Llmlted by Guar•nt••l Rog18t•r numb•r. l)9617543 BALANCE SHEEr As at 30 Junè 2021 20 2020 Not• Flx•d •8oets TangJle a88éts 129 129 Cuff•nt a•••ts Cash at bank arKI in hand IH336 111.412 164336 111.412 Cr•ditors'. wnounts falling du• withkn ono 10 (71A40) (4970) 107.442 Totsl a•s•ts les1 ¢urr0nt Ilabllltl•s 92,782 107,571 Net au•ts 92,782 107,571 Total n•t a•••t• 92,782 107,571 Chartty fund• Reslrkted funds Urnstri¢t•d fun 12 12 91076 707 24,791 Total fund 92,782 107,571 The Charlty wa8 an1111 to ex•mOM fm audtt und•r gecucffi 477 d tr C(xnp8ns Act 2006. The Mbe19 hm rrf)t required the ccmpany to elain wdil for the year in qltion in accordance wlth sth 476 of CLpanieS Act 20r. The Tru8t6è8 8c&n(A their rewsibilts l¢Y COmp.ng wth the réquwomént8 of tho Ad Mfjth roSPO¢t to counting record$ and pr•parknn finwxiol GIatem. The financial 81atements hgve been prepared in ith the PIOV¢8K)n8 appka)b2 lo enllts'es subj'xt kj the smal companies regime. The financial 5ts1oments woro roNTrJ and thor for I8• by tho Tnta&S arKI signgd on their bghair ty. Slr JoAh Rllblat Chaim)an Dale.. The te& on p4e$ 10 to 18 fc¥m p¥t of t1 finarual stements. Page 9
THE BRMSH SKI & SNOYIBOARD NATIONAL FOUNDATION IA Company Lirnlt•d by Guarnnts•) NOTES TO THE FINANCIAL STATEMENTS Forth8 yur •nd•d 30 Juno 2021 G•n•rnl Inforn)atk)n The Brib8h Ski & Snthtsard N•tn81 FIndallon 18 a charita8 Ca%npany, limited by grantee. regi816md in England and Wale8, and the registered offKe addresi is 101 CwaThdish Slrèot, London, W1W 6XH. Th8 Chartty8 oty'tLts set oul in th8 Tnrdtee8' R AGcountlng pollcl•• 2.1 8a•l• ol pr•p•r•tlon of fln•nclal •tatom The financlal statements have bo•n prfjpw8d in xcordance wth Ihe Charltles SORP (FRS 1021- Accounting and ReportirwJ by Charibes.. Statement of Recomménd Pfatho appl•blg to Ghariti•s prepwtng their accounts in with the Financial Reng St8r¥Jard applicabbg in the UK and Republ of Ireland (FRS 1021 {1•CtiVe 1 January 2019). thg Fknanclal Reporting Standard awkabla in th• UK Republ al lreAd (FRS 102) and Compankrys Act 2006. The Brltish Skl & Snch¥bo#rd N•tKxwI FowrflatJn m••ts the defin • publt beffl •ntty under FRS 102. A8sets l8bilili88 are re¢ognlMd at hlJtort4 ¢t or trwbSgcbon value unl other•A8e 8t8ted in the rdevant xc(yJntrrfJ polw. Thé rm41 ¥tatem•nts are pr•pw•d In Stortkng. the fiJnctiorAI ¢urrency of th• Ch•rity. •Th amounts are rourded to the nearèst L 2.2 Golng conc•rn The Chaiity rd reliant Up don8trty to most tts day-tdaY runnlng costs, and grant4naktng aCtNIt•. The Charty receid a8surwKes that dort)n$ wll Conlin lo h 8vaihble from the Trust¥ andlor connectthj org1810nts v#hiht rt Mntinu•8 lo gr(yw and 8stabli8h. As a rgsuK the Tru81ee8 con8kler it 8Fprcpnate lor the fin91 8tatements to be prepared on the going concem ba81A. 2J Fund iGcountlng General fund8 are unreBtrKaad funds which •re available for •t th• discr•lion of the TlLrnte in furtheranco of Ihe gwwal objective8 of the Charity and not thslgnated for other PUfP0668. RtrIcted funds are funds whith are to be used in accoance with specrfk restriction$ imposed by donors or whkh have bofjn rai¥ed by the Charity for p*1uL9r purpos•$. The co5t5 (rf rwsing and administering such fundB are ch8fg&Y wjainst the spe¢ts fund. The aim and use of each re8tricted fund is tset (xrt in th8 ndes to financ St&nents. Page 10
THE BRITISH SKI & SNOWBO NATIONAL FOUNDATION IA Company Umlted by Gu•rnnt••) NOTES TO THE FINANCIAL STATEMEKrs For th• year •nd•d 30 Jun• 2021 Accountlng polkl•s {conllnu•d) 14 Incom• JI incune 1$ rwni8•d onc8 th• Charthi ha8 to the incom8. It i8 prob8bkn that th income be re11 and the rnnt d tne rnc4ivabl8 Gan be measured r¢li4bty. Grts arn in¢hKlod in th• Ststemert Ll Actiwilm on a rVable bMi•. Th• bal•n of Income receiv for Specif purpos8s but not expend&J durlng the period is In the relevant fund8 on the Balance Shaet Whore inrAMne in a0 of an1nent of recaipl. rt8 recogniti¢xt 18 defThl and incIled in cr•drtorn •• doforred ineome. Wh8re entttlement i>ccurn Income tax recoverabi6 in rolatn to donths r•cei4J urnlor Gfft AJ or d•od• al co¥ent4rt i• recogni58d at the timè of Ihe donatn. 16 Int•r••t r•celv4bl• Inlorest on fundi held d6po8lt Is included reUN•b amount can b• measured reliabfy by thg Charfty.. thi$ normally urrt)n notific# of th8 iterest pavj or paW)le by th• inslltution with vttthi fund8 are deposrted. 2.6 Exp•ndlturn Eyndltur• i¥ recognioad m trle 18 8 bwJ81 or constr11 obfigaticfi to lrnn8f•r econom benefit to a third paty. it is prcèablo Ihot a traler of oconomic tenefits wtn be requlred In 8ettlem•nt and the amount of the oblyatK)n can be moaswod reli8bty. Eyndltura l& classffi¢d by ty. The costs of each acmy are made up of th• total of diract ¢0sts and Shared costs, Includiw support C08ts Inw)fved in undertaking èach aclNrty. DIrt costs attributab lo a $lTrJlo tmly are altocated th'recty to thgt actNty. Sh&r•d ¢ost8 whth contrtiute to more than ong activity and supwl >5 which we altrtsJtsbl8 10 8 single activty we apportn betsveen tfvilies on a basi8 eonsistent with th8 uso of rnSOUfCa8. Central staff co$1$ 8r• allocated on th• basis cl lime spent, KI deprecAlion tharges alk¢•ted on thg of tho 88981.8 use. ExFwvJiture on ¢haritable acti¥ft• r4 irued on directy ur#J8rt8king tho actsvknes wFMch futhor tho Choritrfi obJ'ectrv8s, as 48 any 88KxIknY CO818. Grants payab are Ni the the offer 18 mado except kn th0 G•Bes vthere the offef is Cond0nd. suth grants 'n9 rwnised a$ 8xpgndrture when the nlIK)n6 attathing are fvirilled. Grants offered 8ubje£t to eonditi"or<6 which have not been mot at yooJ end we noted a8 8 ommitment. but Th)t TUed as eynditure. JI expendiknY8 li inclu8pffj (rf IThe¢lernb1e VAT. Page11
THE BRITISH SKI & SNOWBOARD NATIONAL FIXINDATION IA Company Umil•d by Guarnntsg) NOTES TO THE FINANCIAL STATEMEP For the year •nd•d 30 JUM 2021 Accountlng pollcl•• IGontlnu•d) 2.7 Tanglblè I11 ••••ts and d•pMci•tion Ta1b rtx•J as•ots ¢ting £NIL or morn wirtald and rwnl•ed kn future •conomic benefits are prthablo WKI Iho CLXt or ofthe asset can h mea8urJ Tdi8bPy. TatYJible Ted Jsset8 arn iritity re¢ryJnMd at Cost After roc0gnrtlL, undw the ¢081 modol, t8ngiblJ frxod a888ts are measured at c1 le8s &eumulated dgpr•ciatton and any Lmla inpairment h)sses. Al ¢05ts I1rr•I to brlrwJ # tsngiblg ffixed assot ils Intérbded working condltlon SIk1 bo Wded in Ihe mea8uvwn•nt ol cost Depreciat 1$ charged 80 tQ the ¢t of tangl)18 f•d a800ts 1gB8 thek resldual v•lu• over th•ir 8Stmat•d u8•lul Iws. . Dwr•Ctknn kn proAd•d +)n ts folky•Ang ba•'. OlfK4 oqupmert - 33.33% RedLKlrwJ 2.8 C••h 4t bank and In h•nd Cash at bank ond kn hand includ08 ca8h •hort44fft1 hghly 1K1d in$b8nts wlh a short maturlty al Ihrw m+th8 Of 1888 from t date ol Wu1t)n or ownlng cl the depo8il or JinilNr count. 19 U•bllltlM and provknlon¥J Liabilit arn recognised vthen thère li an obl¥akn al t 8alu Sheet date as a regull of a pt event. It is Proba) that a tran8f6r of economic brfrt V•41 t• fW4uirJ In Setttement. arKI the •nount of the settlemont can bè estimated reliab. LlablltUo8 are rwnl8ed at the •naunt that lh• Glorty antiC4pat88 it pay to debt or th• tdnount it hw recoib•d a8 adv8rKed pa for g¢Jods ty 8ervlc•• it must provide. Provlslons we m6Agured at tho b8St estimate af the 1xmI0 fW4uired to 8dUe the ObIbatK. Where the effect crf line vdue cl is maten'al, the pro 1$ based on tho present value ofth08e amwnts. discounted at the prfrtax d[t r8 that rfects the risks spttific lo the liabilty. Th• unwindlng CA diKwnt 18 rwnlsed In the ststnt of Adi¥itYas as a finance co8t. 110 Fln•nGl•l In•trum•nts The Charty onty hag financkql asg¢ts end finanwl li8billig8 018 klnd trAt qullrfy 88 basic fThnclal instruments. Bas financial instruments are initsty recc•Jnised al transaclion value and 8Ub8aquant measurwj at thr seement value the exception of bank k)8ns which ar• SubseqnIty measured al amortisthj ¢osl usirvj the effthe interest method. P8ge12
THE BRMSH SKI & SNOWBOARD NATIONAL FOUNDAlloN (A Company Llmlted by Gu•r•nt••> NOTES TO TIIE FINANCIAL STATEMENTS For th• y•ar •nd•d 30 Juno 2021 cr11k •ccounting astllnth and rM• ofJudg•m•nt E8tim•les and I0Ments are contlnualty evduatsd are based on hiBtoruf 8xp8rignca and oth factors, inckAing oxpKtatbrw of future that we bali84d to be reascnable urth I cifcumstsnces. Crbti¢ accounting •8timatM and •¥swnptKTh: Thg make8 estime¥ afKI asswnpliorf8 c¥Jnceming the ITe. mLthing accounttkyj èstlm•t81 and assumptions wil. by definttscn. sddc¥n oqual the reigt•a xlual resulls. Thère am no •stimat•8 or a8sumptK)ns that hawa a signrfunt risk of causwv a materfd adjustsnthtt to tho ¢arryww wnourts of 8s&ats 4nd liabifitw ¥thin the next financwl Incomè from donallon¥ and kngacl Totsl lund• 2021 Tolal funds 2020 funds 2021 fund¥ 2021 Donations 31.27T 121.277 113,IT5 Total20 53,175 113, 175 Anltyth of •xp•ndftur• on ch•rttabl• actl¥NI 8umffl tyfvnd ty Totsl funds 2021 Tolal funds 2020 fund8 20 fund¥ 20 AdvanOr ol $wt 55,361 80,705 136,086 79,556 Total 2020 37.336 4Z220 Page13
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Limlt•d by Gu•rnth NOTES TO THE FINANCIAL STATEMENTS For th• y•ar ended 30 Juno 2021 Analy•l8 of oxpénditurn by actl¥lll•# Grant und•rt•k•n fundlng of dlrocty actlvttl 2021 20 Support Total funds 2021 Total fvnds 2020 2021 Aifvancunant crf sp(Kl 12.840 55,361 136,066 79,556 Total %Y20 42.220 37,136 An4y•h of •upport co•ts Tot•1 funds 2021 Tot81 nds 202Q 018110n A¢countancy and indoptyKlorrt gxamlnath)n Crynputer Bk charg•i Mark•ting and branding L¢ga ond profasstrjnal subscriptn8 65 2308 69 7,905 42.696 1,618 69 227 32,699 18 55,361 37,336 The Charty •mplo>Th4 aff in dthwth• current or pri¢Y Page 14
THE BRMSH SKI & SNOWBOARD NATIONAL FOUNDATION (A Company Llmltod by Guarant•o1 NOTES TO ThE FINANCIAL STATEMEKrs For ¢h• year OThd 30 Tre 2021 Ansl• of grnnl Grnnts to Grnnts to 1nst1tsrtlo Individua 20 2021 Totsl funds 2021 Tol 2020 Ath4¥ncwnent of spfyl 14.499 67.866 42,220 Tot812020 42,220 42.220 During tr• jr, any rwnun•rkn or thor b?n8ffts f2tr20. £NIL). During tho •nd•J 30 Jun• 21Y21. TfU8tg0 expwwi ha been incurrf•J (2020- £NIL). Page 15
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Umit•d by Guarantwl NOTES TO THE FINANCIAL STAT£MEpirs For lh• yur •nd•d 30 June 2021 Tanglbl• fix•d a•s•ts •qulpm•nt Cost orv•luallon At 1 July 2020 At 30 Jun•2021 D•pr•cl•tlon At 1 Juty 2020 char for the year 526 At 30 June 2021 N•t book v•lu• AI 30 June 2021 At30 Jun8 2020 129 10. Crodhorn: Amounts f•lllng due wlthln on• y•Ar 2021 2020 Trade creditors A¢¢Tuals and doferred ircome 69.300 3,970 71,640 3,970 11. Flnanclal InStrumts 2021 FalI1 ass•ts Finanual assets measured at f8ir NTlu8 through ir08 arKI exp)dituro 104,336 111,412 Page 16
THE BRMSH SKI & SKIWBOARD NATIONAL FOUIIDAnoN IA Company Limit•d by Guararrt••) NOTES TO THE FINANCIAL STATEMENTS For the ymr •nd•d 30 Juno 2021 12. Sial•m•nl of fund8 Slat•m•nt of fund•. ¢un•nt y B•lttne• at 30 Jun• 2021 Baknn¢• •¢ I Jufy 2020 Unrn•trkt•d fund• Genernl F8- al funds 24,791 31,277 {86.3811 707 R•8trlct•d fund• Grant M•klng Fund 81780 (00,7051 92,076 Totsl fund• 107.571 121377 1136.066) 92,782 stst•m•nt ol fund8. fv yr BalarK6 81 l Jufy 2019 lrtc¥n8 T10 30 Juthg 2020 Unr•Btrkt•d fund• G•n•rel Fund•- d fund• 15.952 53.115 (37.336) {7,0) 24,T91 Restrlthd funds maneThI Fee8 Fund• Grant MakId Fund (7,1)} (42220) 82, 780 (4Z220) 82, T80 Totsl funds 73.952 113. 175 (79,556) 107.571 Managemert Fee8 FLmd . represents funds refftd to profes5iDnal fe85 payable to the Chief ExecLrtlve. A IransfeT was m in year from unrestricted funds lo Cover the def11 from the prir Grant Ming Fund . funds rd fty tr ChaiitYs grant making programme and fvnding chaiitabkn pn4ects. Page 17
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Urnlted ty Guaranta• NOTES TO THE FINANCIAL STATE¥ENTS For the year ondad 30 JUD• 2D21 13. Anatysl8 of n•t •s••ts bItTr funds Anaty•ls ol n•t •#s•t• b•tw••n fund•- cumt year Total fundj 2021 funds 2021 fund 2021 Tw4ible fLxed a89é18 Curr8nl aBss Creditors due wlthln ¢)ne n.261 (71.640) 92,075 164.336 {71,6401 Total 707 92,075 92,792 An•tysl• of n•t a•••ts b•tw••n lund•. prlory Total lunds 2020 2020 T•ngit4e thd Current •sMts Creditorn due ithin 129 2a632 (3.970) 129 111,412 (3,970) 82780 Total 24.791 82. 780 107,571 14. R•lal•d party tran•actlo During thg Yagr, th8 Ch8rty rncelved a donthon8 totsNing £90.000 (2020.. £60,¢YJOI frcffl foundations vllh Ifu$legs In comffKn. £70.000 {2020.. £60.OCQI w89 tricted for purp08e8 88 detallèj In note 12. Other than di8cIo8ed elsh8rÈ in the financial statgments, there are no tran$&tions with rothd p8rti88 rewiring di¥closur68 in th¢ wior yws. Page 18