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 2￿21} Go8lng OBE Sarah Lewis Iresuned 29 January 21Y22) Nicholas Tapn•r Company r•gh5tsr•d n￿rn￿r 09817543 Charlty r•gknt•r•d numb•r 1187331 R•ght•r•d offk• 101 Cavendlth Slroet London W1W6XH Accountsnts Ind Inde￿ndent Examln•r Martln Bai Goodman Jonés LLP Chartered Accountsnts 29130 Fl* Square London W1T6LQ 8ank•r4 Ro￿1 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 cl￿panY Llrnlt￿ by Guarant•• TRUSTEES, REPORT For the ygar •nd•d 30 June 2021 The Tru8to98 preaent tsir Amual Rgport trythr the fina￿181 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 FIn￿claI Statemènts of th8 charitable C￿panY compty with the ¢urrent statutw requir￿15. the requirements of the chartsble compan15 governing (kjcument th8 Pr￿*S￿n# of the Smwnenl d Rxommended PM¢tice {SORPI applThble to Char￿e$ preparirvJ their xcounts wi ￿ry￿anCe w7th the FinwKi81 Retthng StsrKlard awicab In the UK and Re￿bI￿ of Irel&MI (FRS1021 I￿￿6¢1]￿￿ 1 J￿UIry 2019>. &nce tro CP*rity qualMe8 u 8rnal Lwthr Sect￿ W2 of th• CMwniK Act 2(Th, tho Str*ryk R•port roqulred of medium arxl larg6 ctynpanies und•r c￿an￿ 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. ¢qUpm￿I, and rAgan￿lng sporting 6vwts}'. lo provide and a•8i8t in fa¢111￿ for 8prf ￿lea￿c￿ or olhw l••ure tim• c¢cupatit)n of such por8uld make tho grnaté#t vnpad. Th• Charity grants to 21 yowvJ atl48tO8. W bal￿n 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 S￿Ond granlwmaking str•am in the yw was for pr4*cts 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 p￿Ie¢t 88￿nCe, 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 ot￿nple and Paratympic Winl•r G￿•$ in Bèrying. 0￿ring skatetr*)arding 18sson8 that v $￿IfiCallY laikrgd to buihj the skils th•1 fomi the fcmjndallon for $nvhto8rdinq. the pn)iect aimed to offer young op18 8n introdudb)n to Irnrb8fe￿￿ skills that can bo put into pkqce li edUcat￿n and in their wid8r lives. The project culminated with a ¥i$it to The Sr#yw Centre in Hgmel Hwnp8tead. where Itw werè givèn th& ¢)PPOrtunity to wt thèir rxw 8kill8 into prxtice on the $nN athJ8ide rr*mbers of th• GB Sn(yw8POrt Te￿. Vicky G081kn9. BSSNF Trusts• and Chief Ex￿ul￿n of GB Swport 8a*J'. "L8unchlng Pn)i8cI Balance Is 8 Tr&Vy mpc¥t&ryt mAleSt￿ for GB SnowSp￿t AS ￿ budd Iow8th next yearf8 OlympK and Paralympic ￿nter Games. K is so iinpytanl t1￿1 we show yotw people acn￿$ tho natil￿ that OU￿ is a lamty ofs1￿$ thel ￿ and can b6 rnlev8nl for them- wh8lherthey w￿h lo b& an athletfj, a particwn¢ C08ch or a fan. Wein detenn￿ed 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 0￿pIC schedule in 2028. Thi$ 8LfJPf*t 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 atht*es 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 ￿rIO￿anCe Ic¢￿11n￿•d) . 2020121 gI￿t rnclpl•nts l¢on¢lnwd) school Roll•rnkl ProJ•ct Tho swr tho Charlty suppu￿ a pw4e*a that ifflpK￿ Some of the most deprI￿d 8chod chlklren In Scotknd by prowding them V￿th ￿ LTrPOrtunty to knam ond devekp a new 8PCAt Ihty would never have had the cpportunity lo experiance. Sn(MBwt sC￿l￿nd rc4knki Jessic￿8 ￿ School playYJrourvJs across the country ov•r a park￿ of ofight vn•k8, impactirfj 1,81Y) Sch￿11 children. Indl¥ldu•l Athl•t• Grnnts Thg 21 redplents cl our Indiv￿￿[ AtN*e Grants aff￿knj by of ¢￿ts related to COVID19. Support frryn BSSNF alth4*d them to conllrth the Gr￿￿41 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 Inc￿lIbl0 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 ￿ Iw8m￿l 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 I￿1 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 aWa￿an lThYfvkW Grant Emma Peters has been supported by tho Found*1￿ was four )*ar8 w and has gon8 on to hOl￿nge some of the b88t In the From the age of 7, *then her txolher became ffl bene e8neer. her w•d(ty e8C￿e from h08plt815 wlth her ther was off lo th8 dry *. From here it Soon b￿arn? ? hct*by, Iwth an addiction lo the adrendlne mBh provided arKI th¢ incredible •nviror*n•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 q￿1￿Calm)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 oper*ws and intWSP4e Ihorai)y in Headley c￿rL 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 InSpirat￿n Programme in 2018 and after an éxtremdy SLrcca$sful s•08M this ￿er, he knoks 581 to r8&h hfij gool. Fln•nclal rnvl•w Golng ¢onc•rn After making wpropriate anquiries. tho Tru81088 hav• a rnason￿10 eyyctation that the Ch8rty ha8 ad4uat• re8ourt¢8 lo continue in operatwjnal a￿StanCe for the foreseaabl8 lulure. For th18 f8a￿n, they continue to ad th6 goino ccficem b•*ii in prepthng th& financial 8latem*ts. Furth•f regarding the adoplK*n of the g)ing concam ￿18 can b8 fwnd in pol￿••. RM•rv•• polcy The Chadty • po[￿Y of hokling #ufficient rnW**• to cw Its pl•nn•d gr•)t4naklry tho level of wthlch ¢4n vary from lo ￿or. N¢7W the Chanty is more 88labliihgd, rt has béen able to ￿lId a ba￿ ol fund8 and at th• balanc6 Shed date genwal lunds ti*aW £707 {2020.' £24.7911 and r••trKt•d fundb Idallod £92.075 12020.. £82.780). G. Flnancl•l r•vlva7 A Charit￿10 foundalN)n continues lo bo main to the Charly. but Incro￿lAg our base of donor8 18 8 prkwty lor the Tru$lo85. As a rO￿l￿ty charity. il h88 been impW￿l to wnrk with our 9ranl rgcipientj to bulld the 810ry of we support and hcw we m*8 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 N*ion81 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￿ el8c*ed wpted undw the tems ofth8 Memorandum ofA$s￿*b.01L c. Organlutlonal gtnthr• and polkl•s British Ski & Sntyknoard National Foundatbn ha¥ a Trustee Board of fw. The Board 1$ resp(￿8￿)10 for the overall wnnirq of the CP￿rity. 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 m￿ha81 Cohgn Wds appointed Trustee on 21 March 2021. Since Sarah Le*is 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 B9￿nd Ihls report, the Chwlty ￿ I￿kS 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 fin9n￿8[ 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 Cc*nmunty Reach Programmes and 8SSNF Sno￿[￿￿1 Athlèto ACce￿ratOr 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$¥roots Inttlalives IndI￿d￿81 4th￿ GYanl8. Slal•m•nt of TnMt•••' T•¥poMlblllll•s Tho Trustee8 Ivtho ar¢ also the dlreckn3 of th8 Charlty for tho pwpose8 of ¢onpany Ipw) are respon8lble for preparbw Iha Trusteos. Report arKI Ihe financial statemenls In ￿))rdance wlth applicable law and Untt¢d lQngdom AcwJntiThJ Standwd8 (ur￿l9d Goneralty knountiry Prxlc•). Crynp8ny law rnquir6s the T￿￿te￿ to wepwe finwKlal statomonts each fmnclal . Urthr companylow, the Tru$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 re8￿Jr¢•6 and application of resources, Includhg Its Income and exponditiJr•, lof that pèrfod. In preparing these financial $tstgments. tho Trust￿8 are rwlred lo.. Select 8uttabk accounllng polkle8 and thon •prAy them c4n8lslenty. ob88Ne the methods and pdnclplès ol thè char￿e$ SORP IFRS 1021.. mak8 I￿Jg8m9nts gnd ac¢ountrng è5Umatss that aro roasonablè prudgnt.. 8tale wheth&r apFAicablg UK knounling StsrMlard8 {FRS 102) h8ve boon f￿kA￿l, ?ubJgct lo any malerial dep4rtures dlscknsed and ex￿ained 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 ￿ 8uffkI￿tt 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 $talomentB compty wth Ihe Cc4npanitis Act 2006. They are ￿80 resp￿￿ble for safeguarding the assets of the Charity and hence fty tsking rnasGfsabla 81op8 for the preventlon and dètecvon of fraud ond other irregular￿08. Appyoved by oTder oflhe memb*s of Ihe LKwd (rf TnJ8tees aThl glgned on th¢lr bohalf ty. Slr John Rltblal Chaiman Dale: 31 2ozE Pag8 6 THE BRITISH SKI & SNOWBOARD NATIOPIAL FOUNDATION IA Company LlmJt•d ty Guarant•e) INDEPENDENT EXAMINER'S REPORT For the y•ar ènd•d 30 June 2021 Ind•p•nd•nt Ex•mln•trs R•port to th• TnMt•M of Th• Brfllsh Skl & 3nowknard NailoMI Foundatlon llh• Charlty) I rwrt to the chwlty TnJstee8 ￿ my examinalion of tho ol lh• Chgty for the ￿Ar endad 30 ￿ne 2021. RMpon•lb4ltl•• and Ba•h of R•port A8 tho Tru81ees of the Charity land its thr￿10￿ for the purposes of c(¥npany lthvl you are re8ponsib￿ for tho proparation of tre accounts in *cordwKe with tho requirwnents of the Companw Act 2006 llh8 20￿ Pdl. HaviryJ satiafi8d my86if ttiat the accounts of the Ch•rty we not roqulr•d lo be 8udit•J under Part 16 of thè 20( Act and are elb3iblu for in¢*pendent examlnati¢)n. I rewt In respxt of my examinatron of the Charity$ xcounts cathed OLrt urthr So¢t￿)n 145 of the Chariti08 Act 2011 Ilhe 2011 Acri. In carrying out my examinat￿n I h fouovffjd the Dlrection8 givon by tha Chwty Commis•M [￿1￿1 145(5)(b} of the 2011 AGt. Ind•p•nd•nt Examln•rf• 8tat•m•nt I compht•d my •xwnin*ion. 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* WIt￿ch is not a mattor con$kler•d a8 part ol Independ8nt examiiatKm,' rx th? accounts have ncA be8n Prepa￿ in accordan￿ *ith the methods and prtsl*8 of the Stalgmenl of R•commend•l Practice for and r•wliN by charities lapplkable to charities preparing th￿r accounts in accorda￿ wih tho Financi￿ Report￿ St4rKlaTd ¥pl•ble in th8 UK and Republ￿ of Irel￿ IFRS 10211. I have no concerni WKI haw come acro88 matters in conMct¥)n vAth lh• •xaminthn to vthich attent￿n 8houtrJ b• dfw*n in this report In ordgr to anabl• a proper under8tandirvJ of the accounts to bo This rowrt is made 8018ty to the ChariW¥ Trustees. as a bcrtly. in xccrfdancè with Part 4 of the Chariti68 (Accounts and Rep￿ts1 Regulalx*ns 2008. My has been undertaken so th•t I might state lo the Charity8 Tru8tee8 those matters I wn requwed to state lo th￿7 in an Independent Examin*s Report and for no othef purpose. To the fulkst extent pemiitted by 18w. I do n¢X accept or asS￿e re8pon8lb￿ty to any¢)ne other than the Charity and the CharitV8 Trustee8 as a body, for rny￿ or ftr tiws rawL S¥ned'. 064)4-22 Martln Balloy FCA Gocthian J￿3 LLP 29130 Frforoy Square London W1T6LQ Pa9e 7 THE BRMSH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company UM1t￿ by Guar4nt••l STATEMENT OF FINANCIAL ACTivmES IINCORPWTING INCOME AND EXPENLYfuRE Accoumr) For tho yur •ndgd 30 Jun• 2021 Tot*1 fund¥ 2021 Tol fund• 20 fund$ 20 Donations and l•gaci88 31377 121,27T 113. 175 Total Incom• 31.277 121,277 113, 175 Ex￿￿ltur• 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 Flia￿al 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 Tang*Jle 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 an111￿1 to ex•mOM fm audtt und•r gecucffi 477 d tr* C(xnp8n*s Act 2006. The M￿be19 hm rrf)t required the ccmpany to el*ain ￿ wdil for the year in ql￿tion in accordance wlth sth 476 of CL￿panieS Act 20r￿. The Tru8t6è8 8c&n(A* their rewsibilt￿s 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 Tn￿ta&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 st*ements. 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 & Snth*tsard N•t￿n81 FI￿ndallon 18 a charita￿8 Ca%npany, limited by g￿rantee. 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 Re￿￿ng 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 lreA￿d (FRS 102) and Compankrys Act 2006. The Brltish Skl & Snch¥bo#rd N•tKxwI Fowrflat*Jn m••ts the defin￿￿ ￿ • publt b￿effl •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 rm4￿1￿ ¥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-t￿daY runnlng costs, and grant4naktng aCtNIt￿•. The Charty recei￿d a8surwKes that dor￿t￿)n$ wll Conlin￿ lo h 8vaihble from the Trust￿¥ andlor connectthj org￿18￿10nts v#hiht rt Mntinu•8 lo gr(yw and 8stabli8h. As a rgsuK the Tru81ee8 con8kler it 8Fprcpnate lor the fin￿￿91 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. R￿trIcted funds are funds whith are to be used in acco￿ance with specrfk restriction$ imposed by donors or whkh have bofjn rai¥ed by the Charity for p*1￿uL9r 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 re￿1￿1 and the rnnt d t￿￿ne rnc4ivabl8 Gan be measured r¢li4bty. Gr￿ts arn in¢hKlod in th• Ststemert Ll Actiwilm on a r￿￿Vable 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 an1￿￿nent of recaipl. rt8 recogniti¢xt 18 defThl and incI￿led in cr•drtorn •• doforred ineome. Wh8re entttlement i>ccurn Income tax recoverabi6 in rolat￿n to donths r•cei4*J urnlor Gfft A*J or d•od• al co¥ent4rt i• recogni58d at the timè of Ihe donat￿n. 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 tr￿le 18 8 bwJ81 or constr￿11￿ obfigaticfi to lrnn8f•r econom benefit to a third paty. it is prcèablo Ihot a tra￿ler 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. DIr￿t 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 apport￿n￿ 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 ir￿u￿ed 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 Cond￿0nd. suth grants ￿'n9 rwnised a$ 8xpgndrture when the ￿n￿lIK)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 I1￿1 ••••ts and d•pMci•tion Ta￿1b￿ rtx•J as•ots ¢￿ting £NIL or morn wirtal￿d and rwnl•ed kn future •conomic benefits are prthablo WKI Iho CLXt or ofthe asset can h mea8ur*J Tdi8bPy. TatYJible T￿ed Jsset8 arn iriti￿ty re¢ryJnMd at Cost After roc0gnrtlL￿, undw the ¢081 modol, t8ngiblJ frxod a888ts are measured at c￿1 le8s &eumulated dgpr•ciatton and any ￿L￿m￿la inpairment h)sses. Al ¢05ts I￿1rr•I to brlrwJ # tsngiblg ffixed assot ils Intérbded working condltlon SI￿k1 bo W￿ded 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•C￿tknn 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 1K1￿d in￿￿$b￿8nts wlh a short maturlty al Ihrw m+￿th8 Of 1888 from t￿ date ol Wu￿1t￿)n or ownlng cl the depo8il or JinilNr count. 19 U•bllltlM and provknlon¥J Liabilit￿ arn recognised vthen thère li an obl¥akn al t￿ 8al*u Sheet date as a regull of a p￿t event. It is Proba)￿ that a tran8f6r of economic brfrt V•41 t• fW4uir*J In Setttement. arKI the •nount of the settlemont can bè estimated reliab￿. LlablltUo8 are rwnl8ed at the •naunt that lh• Glorty antiC4pat88 it pay to debt or th• tdnount it hw recoib•d a8 adv8rKed pa￿ for g¢Jods ty 8ervlc•• it must provide. Provlslons we m6Agured at tho b8St estimate af the ￿1xmI0 fW4uired to 8dUe the ObIbatK￿. Where the effect crf line vdue cl is maten'al, the pro￿￿ 1$ based on tho present value ofth08e amwnts. discounted at the prfrtax d[￿￿￿t r*8 that rfects the risks spttific lo the liabilty. Th• unwindlng CA ￿ diKwnt 18 rwnlsed In the stst￿nt 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 th*r se￿ement value the exception of bank k)8ns which ar• Subseq￿nIty 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 I￿0Ments are contlnualty evduatsd are based on hiBtoruf 8xp8rignca and oth factors, inckAing oxpKtatbrw of future that we bali84*d to be reascnable urth I cifcumstsnces. Crbti¢* accounting •8timatM and •¥swnptKTh: Thg make8 estim*e¥ afKI asswnpliorf8 c¥Jnceming the I￿￿Te. 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 Total2￿0 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 Advan￿Or￿ 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 0￿￿18110n A¢countancy and indoptyKlorrt gxamlnath)n Crynputer B￿k charg•i Mark•ting and branding L¢ga ond profasstrjnal subscript￿n8 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 An*sl• 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• j￿r, 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 ir*come 69.300 3,970 71,640 3,970 11. Flnanclal InStrum￿ts 2021 F￿a￿lI1 ass•ts Finanual assets measured at f8ir NTlu8 through ir￿0￿8 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 F￿￿8- 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 y￿r BalarK6 81 l Jufy 2019 lrtc¥n8 T￿￿10 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 man￿￿eThI Fee8 Fund• Grant MakI￿d Fund (7,1)￿} (42220) 82, 780 (4Z220) 82, T80 Totsl funds 73.952 113. 175 (79,556) 107.571 Managemert Fee8 FLmd . represents funds r￿efftd to profes5iDnal fe85 payable to the Chief ExecLrtlve. A IransfeT was m* in year from unrestricted funds lo Cover the def￿11 from the prir Grant M*ing Fund . funds r￿*d 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 bIt￿Tr 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 aBs￿s 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 comffK*n. £70.000 {2020.. £60.OCQI w89 ￿tricted for purp08e8 88 detallèj In note 12. Other than di8cIo8ed els*￿h8rÈ in the financial statgments, there are no tran$&tions with rothd p8rti88 rewiring di¥closur68 in th¢ wior yws. Page 18