Registered number: 09617543 Charity number: 1167331
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION (A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
For the year ended 30 June 2022
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 18 |
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS For the year ended 30 June 2022
Trustees
Sir John Ritblat, Chairman Michael Cohen Victoria Gosling OBE Sarah Lewis (resigned 29 January 2022) Nicholas Tapner
Company registered number
09617543
Charity registered number
1167331
Registered office
101 New Cavendish Street London W1W 6XH
Accountants and Independent Examiner
Martin Bailey FCA Goodman Jones LLP Chartered Accountants 29/30 Fitzroy Square London W1T 6LQ
Bankers
Royal Bank of Scotland London Corporate Bank Centre PO Box 39952 212 Devonshire Square London EC2M 4XJ
Page 1
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT For the year ended 30 June 2022
The Trustees present their Annual Report together with the financial statements of the Charity for the year 1 July 2021 to 30 June 2022. The Annual Report serves the purposes of both a Trustees' Report and a Directors' Report under company law. The Trustees confirm that the Annual Report and Financial Statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objects of The British Ski & Snowboard National Foundation ("BSSNF" or "the Charity") are –
-
to promote community participation in health recreation by providing facilities or opportunities for participating in skiing, snowboarding, and other snowsport (“facilities” means land, buildings, equipment, and organising sporting events);
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to provide and assist in providing facilities for sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social or economic circumstance or for the public at large in the interests of social welfare and with the object of improving their conditions of life; and
-
to advance the education of children and young people.
b. Activities undertaken to achieve objectives
The charity continued to navigate the challenges of COVID in a critical season, with the Winter Beijing Olympics and Paralympics being the major culminating competition. The demand for support from our athletes and programmes evidently rose in this period, whilst generating income remains difficult due to the global economic impacts of the pandemic. Nevertheless, the charity still found the ability to fund some key projects. There was a series of Paralympic programmatic support including the introduction of para pathway coaches across all three disciplines, and the funding of key training serials to support Paralympic selection. Also supported were a number of Athletes that would not have had the funds to attend essential competitions in the selection period up to the Olympic Games and European Youth Olympic Winter Festival. It also ensured younger athletes secure FIS points to begin to progress their performance journey.
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THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) For the year ended 30 June 2022
Objectives and activities (continued)
c. Project support
BSSNF were proud this year to support Athletes on a Paralympic pathway through 2 key initiatives:
The ‘Nordic Sit Ski Project’ was driven by Williams Advance Engineer to provide our largest Para Nordic Team with World leading equipment for the Paralympics 2022. We were able to financially support the project and it was incredible to see the team in action securing a number of top ten finishes at Beijing 2022.
The 'Development Para Pathway Coaches Programme' was a collaboration with GB Snowsport and Snowsport Scotland to provide the funding to secure three pathway coaches in Para Alpine, Nordic and Snowboard. This will ensure a strong legacy of para-athletes continue to represent Great Britain at the highest level.
d. Main activities undertaken to further the Charity's purposes for the public benefit
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)', and this has been a key consideration when setting its grant-making policy.
The Charity has supported both individual athletes and projects that increase community and grassroots participation in Snowsport, and we have ensured that there is a suitable balance between both of these priorities to fulfill our obligations regarding public benefit.
Achievements and performance
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Charity has a policy of holding sufficient reserves to cover its planned grant-making activities, the level of which can vary from year to year. Now the Charity is more established, it has been able to build a base of funds and at the balance sheet date general funds totalled £40,632 (2021: £707) and restricted funds totalled £7,000 (2021: £92,075).
c. Financial review
A small pool of individual donors and charitable foundations continue to be the main sources of fundraising revenue, increasing our base of donors is a priority for the Trustees. With a new strategic implementation plan activated and is projecting an exponential growth in income streams over the next four years.
Page 3
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) For the year ended 30 June 2022
Structure, governance and management
a. Constitution
The British Ski & Snowboard National Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
c. Organisational structure and decision-making policies
The British Ski & Snowboard National Foundation has a Trustee Board of five. The Board is responsible for the overall running of the Charity. The Charity’s Articles of Association set a minimum of three Trustees, with no maximum number.
Sarah Lewis stood down as a Trustee during the financial year on the 29 January 2022.
Future outlook
Snowsport is an area of professional sport that has been historically underfunded. We have seen first-hand the challenges that athletes have faced, not only over the last year. We know how many innovative communitybased programmes have been unable to launch due to lack of funding. Now we need to build upon our proven track record, aiming to rise to the occasion in the coming years to meet the growing need in the Snowsport space.
Our aims are to provide the needed annual support to help fund athletes, create access for all, and develop pathway programmes that give athletes the support and training needed for a successful 2026 Olympic and Paralympic Games.
In recent years we have made great strides forward to support and foster advancement in winter sports. Through months of careful planning, we have created a comprehensive four-year strategic plan that when implemented will empower BSSNF to expand our impact even further.
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THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Limited by Guaranteel TRUSTEES. REPORT (CONTINUED) For the year end 30 June 2022 Statoment of Trustees. responslbllltl•s The Trustees (who are al the directors of the Charity for thg PLwposes of company I) are responsible for preparing the Trustees. Report and the finala1 slalements in accordance with applicable l and United Kingdom Accounting SlarKlards (Unrted Kingdom Generalty Accepted Accounling Practice). Company law requires the Trustees lo pfepare financk41 Statwnents for each financi81 . Under company law. tha Trustees musl not approve the [ancIal statements unless they are salisfied that they gNe a true and fair view of the slate of affairs of the Ch8rity and ol its irming resources and application of resources, including its income and expenditure, for that period. In PreParg these financHI stalemenls, the Twslees are requir•d lo.. select suitable aCuntIng policies and then appty them consistent, observe the methods and principles of the Charities SORP IFRS 102); make judgements and accc¥Jnting estimates that are reasonable and pnJdent'. state whether appli¢able UK Accounting Standards IFRS 1021 have been folk%, $ubjg¢t to any material ¢Jepartures dis¢losed and explained in the financial statements.. prepare the financial statements on the s¥ng concem basis unless it is inappropriate lo presume that the Chanty will ntinUe in bUs1rsS. The Trustees are responsible for keeping adequate &counling record$ that are 5uffi¢ient lo show and explain the Ch8rtys transactions and disclose with reasonable accuracy at any time the financtal position of the Charity and enable them to ensure that the financial statements comply the Ccnpanies A¢1 2006. They are also responsible for safeguarding the assets of the Chafrty aml h¢t fly laking reasonabk Steps for the prevention and detection of fraud and othef irregularities. Approved by order of the members ofthe board of Twstees and sKJned on their behaw ty. Chairman Date. iÉfoi IZd23 Page S
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT For the year ended 30 June 2022
Independent Examiner's Report to the Trustees of The British Ski & Snowboard National Foundation ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 June 2022.
Responsibilities and Basis of Report
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the 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 accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
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:
-
accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 26-01-23
Martin Bailey FCA Goodman Jones LLP 29/30 Fitzroy Square London W1T 6LQ
Page 6
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) For the year ended 30 June 2022
| Note Income from: Donations and legacies 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 85,462 85,462 45,537 45,537 39,925 707 39,925 40,632 |
Restricted funds 2022 £ 100,000 100,000 185,075 185,075 (85,075) 92,075 (85,075) 7,000 |
Total funds 2022 £ 185,462 185,462 230,612 230,612 (45,150) 92,782 (45,150) 47,632 |
Total funds 2021 £ 121,277 121,277 136,066 136,066 (14,789) 107,571 (14,789) 92,782 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 18 form part of these financial statements.
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THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Limited by Guarantèè Registèrèd number: 09617543 BALANCE SHEET As at 30 Junè 2022 2022 2021 Not• Fixed assets Tangible assets 67 86 57 86 Currènt as60ts Debtors Cash al bank and in hand 10 6,611 98,S83 164,336 10S,194 164,336 Creditors.. amounts falling du$ within one year 157,8191 (71,640J Net current assets 47.575 92,696 Total assets less current Ilabllltles 47.632 92, 782 Net assets 47.632 92, 782 Total net assets 47,632 92,782 Charity funds Reslricled funds Unrcvtricted funds 13 13 7,000 40,632 92,075 707 Total funds 47,632 92,782 The Chaiity wats ¢nlilled lo exemption from audit under section 477 of the Companies AGI 2006. The members have not required the company lo obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for eomplying with the requirements of the Act with respect to accounting records and preparation of financial slalemenls. The financial statements have been prepared in Ordance with Ihc provisions applicablc lo entities subje¢t to the small companles Tegime. The financial statements were aDDroved and authorised for issue by the TrLbslees and signed on their behalf by.. FJohn RRblat Chairrnan Date iÉfoi12023 The notes on paog.g 9 10 18 form part of IhÈgÈ fin3neig1 st8tèm@nts. Page 8
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022
1. General information
The British Ski & Snowboard National Foundation is a charitable company, limited by guarantee, registered in England and Wales, and whose registered office address is 101 New Cavendish Street, London, W1W 6XH. The Charity's objects are set out in the Trustees' Report.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The British Ski & Snowboard National Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in Sterling, the functional currency of the Charity, and amounts are rounded to the nearest £.
2.2 Going concern
The Charity is reliant upon donations to meet its day-to-day running costs, and grant-making activities. The Charity has received assurances that donations will continue to be available from the Trustees and/or connected organisations whilst it continues to grow and establish. As a result, the Trustees consider it appropriate for the financial statements to be prepared on the going concern basis.
2.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 9
(A Company Limited by Guarantee)
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022
2. Accounting policies (continued)
2.4 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations and investment income are recognised when receivable.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 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 allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 10
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022
2. Accounting policies (continued)
2.7 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
- Office equipment 33.33% Reducing Balance
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.11 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022
3. Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
4. Income from donations and legacies
| Donations Total 2021 |
Unrestricted funds 2022 £ 85,462 31,277 |
Restricted funds 2022 £ 100,000 90,000 |
Total funds 2022 £ 185,462 121,277 |
Total funds 2021 £ 121,277 |
|---|---|---|---|---|
5. Analysis of expenditure on charitable activities
Summary by fund type
| Advancement of sport Total 2021 |
Unrestricted funds 2022 £ 45,537 55,361 |
Restricted funds 2022 £ 185,075 80,705 |
Total 2022 £ 230,612 136,066 |
Total 2021 £ 136,066 |
|---|---|---|---|---|
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THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022
6. Analysis of expenditure by activities
| Advancement of sport Total 2021 |
Activities undertaken directly 2022 £ - 12,840 |
Grant funding of activities 2022 £ 185,075 67,865 |
Support costs 2022 £ 45,537 55,361 |
Total funds 2022 £ 230,612 136,066 |
Total funds 2021 £ 136,066 |
|---|---|---|---|---|---|
Analysis of support costs
| Depreciation Accountancy and independent examination Computer costs Bank charges Marketing and branding Legal and professional |
Total funds 2022 £ 29 2,520 2,571 49 - 40,368 45,537 |
Total funds 2021 £ 43 2,340 2,308 69 7,905 42,696 55,361 |
|---|---|---|
The Charity employed no staff in either the current or prior years.
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THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022
7. Analysis of grants
| Advancement of sport Total 2021 |
Grants to Institutions 2022 £ 147,075 53,366 |
Grants to Individuals 2022 £ 38,000 14,499 |
Total funds 2022 £ 185,075 67,865 |
Total funds 2021 £ 67,865 |
|---|---|---|---|---|
The Charity has made the following material grants to institutions during the year:
| Name of institution Snowsport Scotland GB Snowsport |
2022 £ 13,000 134,075 147,075 147,075 |
2021 £ - 53,366 |
|---|---|---|
| 53,366 | ||
| 53,366 |
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL).
During the year ended 30 June 2022, no Trustee expenses have been incurred (2021 - £NIL).
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THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022
9. Tangible fixed assets
| Cost or valuation At 1 July 2021 At 30 June 2022 Depreciation At 1 July 2021 Charge for the year At 30 June 2022 Net book value At 30 June 2022 At 30 June 2021 |
Office equipment £ 655 |
|---|---|
| 655 | |
| 569 29 |
|
| 598 | |
| 57 | |
| 86 |
10. Debtors
| Due within one year Prepayments and accrued income |
2022 £ 6,611 6,611 |
2021 £ - |
|---|---|---|
| - |
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THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022
11. Creditors: Amounts falling due within one year
| Trade creditors Accruals and deferred income Financial instruments Financial assets Financial assets measured at fair value through income and expenditure |
2022 £ 55,099 2,520 57,619 2022 £ 98,583 |
2021 £ 69,300 2,340 |
|---|---|---|
| 71,640 | ||
| 2021 £ 164,336 |
12. Financial instruments
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THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022
13. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Restricted funds Grant Making Fund Total funds Statement of funds - prior year Unrestricted funds General Funds - all funds Restricted funds Grant Making Fund Total funds |
Balance at 1 July 2021 £ 707 92,075 92,782 Balance at 1 July 2020 £ 24,791 82,780 107,571 |
Income £ 85,462 100,000 185,462 Income £ 31,277 90,000 121,277 |
Expenditure £ (45,537) (185,075) (230,612) Expenditure £ (55,361) (80,705) (136,066) |
Balance at 30 June 2022 £ 40,632 |
|---|---|---|---|---|
| 7,000 | ||||
| 47,632 | ||||
| Balance at 30 June 2021 £ 707 |
||||
| 92,075 | ||||
| 92,782 |
Grant Making Fund - funds received specifically for the Charity's grant making programme. In prior years, the Charity received funds from The Sackler Trust and The Prafarata Foundation towards its grant making activities. The Trustees consider it appropriate to show these as separate funds this year and the transfers represent the re-allocation of funds received to each separate fund.
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THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022
14. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Tangible fixed assets 57 Current assets 98,194 Creditors due within one year (57,619) Total 40,632 Analysis of net assets between funds - prior year Unrestricted funds 2021 £ Tangible fixed assets 86 Current assets 72,261 Creditors due within one year (71,640) Total 707 |
Restricted funds 2022 £ - 7,000 - 7,000 Restricted funds 2021 £ - 92,075 - 92,075 |
Total funds 2022 £ 57 105,194 (57,619) 47,632 Total funds 2021 £ 86 164,336 (71,640) 92,782 |
|---|---|---|
15. Related party transactions
During the year, the Charity received a donations totalling £102,000 (2021: £90,000) from foundations with trustees in common. £100,000 (2021: £70,000) was restricted for specific purposes as detailed in note 13. Other than disclosed elsewhere in the financial statements, there are no transactions with related parties requiring disclosures in the current or prior years.
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