Rogistered numb8r: 09617543 Charity numb&r: 1167331 THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION (A Company Llmited by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS For Ihe year ended 30 June 2023
THE BRITISH SKI & SNOVIBOARD NATIONAL FOUNDATION IA Company Limited by Guaranl¢¢l CONTENTS Page Reference and Adminlstratlvè Detalls of thé Charltyi ils Trustèes and Advisers Trustee5' Report Independent Examinerfs Report Statement of Financial A¢tivit1è5 Balance Shèet Notes to the Financial Statarn¢nls 9-18
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Limit&d by Guaranl•el REFERENCE AND ADMINISTRATIVE DETLs OF THE CHARITY, ITS TRUSTEES ANO ADVISERS For the yaar endèd 30 June 2023 Tru$l8• Sir John Rilblat, Chaimi2n Michael Cohen Victoria Gosling OBE I signed 28 July 20231 Nicholas Tapner Company registerod numbor 09617543 Charity regist8rèd numbér 1167331 Reglslered office 101 New Cavendish Slreel London W1W 6XH Accountants and Ind•pendont Examinor Martin Bailey FCA Goodman Jones LLP Chartered Accountants 29130 Fitzroy Square London W1T 6LQ Bankers Royal Bank ol Scotland London Corporale Bank Centre PO Box 39952 212 Devonshire Square London EC2M 4XJ Paoe 1
THE BRITISH SKI & SNOW80ARD NATIONAL FOUNDATION IA Company Limlted by Guarant••) TRUSTEES. REPORT Foi tho year 8nd8d 30 Jun• 2023 The Trustees present Iheir Arnual Rèport togetr with the fanCial statements of th8 Charity for the year 1 July 2022 to 30 June 2023. The Ann1 RepKJrt serves Ihe purposes of bolh a Trustees, Report and a Directors, Report under Gompany law. Tl Trustees confimi thal Ihe Annual Report and Financial Stalemenls ol the charitable company c(ffiply with current statutory requirements. the requir&ments of Ihe charitsble companls uN)verning document and the provisbns of the Slatemenl of Recommended Praclce ISORPI ap18 lo thariiies preparing thdr accounts in accordance with Ihe Financial Reporting Slandard applicable in the UK antl RebI of Ireland (FRS1021 (effective 1 January 2019}. Since the Charity qualrfi8s as small under sèctton 382 of the Companies Act 2¢Xh5. the Strategic Rert r1r8d of m&Jium and large Companies under Ihe Companies Act 2006 (Strategic Report and Direct$. Rewt) Regulati¢Ms 2013 has b8en omthd. ObJ•ctlvos and actlvltles . Pollde5 and Obct5V The oblects of The Brfush Ski & Sncwb08rd NatiCal Foundalicfi fBSSNF' or Ihe Chaw) are: to prrxnote community participation in health recreation by providiThJ facilities or opp¢xtunilies for p8rti(ipatitwJ in 3kiing, snowtM)ardiTVJ, ar¥J Olr srK)W5Wrt (Yacililies" Mean5 land, builthng5, pouipmovTrt, and organisiro spcthg events}; to kvowde and ass¢sl #i prowding facilities including training for spoiL recreation or ther Igisure lime LCupation of such p8r50ns have need for such facililies by reas of their youth. age, infimity or disabl8men( or SOL?al or enOMiC circumstance or for the public at large in the 5nlerests of soclal welfare and wth the (knjed of improving their condi118 of life., a)d trj advance the edLti ofthiklren and young people. through buTsaries. b. Pxtlvftlos undertaken to achhvo abCtIveS Durirq the finandal w, the Foundat[ gave gr8nls to Iwo athletes. Scott Meenaugh ar Mla Brod<8s. The Trustees consider this financial suppixt was key in delivering the success fcrf UK athlet8s and Para-athIe8 wi intemati1 Ski and SnOT c¥Jnpetitions. 33 World Cham ionshi Scott received funding to SUPP trainiro and physio SpOrt in preparation for the 2023 Para Nordic Worfd ChamOnshIP where Stt wcffl Britain's first ever Para Nor(lic World Championship medal with silver in the 12.okm seateoj biathlon ¢v¢nt. H¢ also finishryl ftsjrth in Ihty 7.skm lrvjidUal knathlon CnI. 16 sls £8 000 Mia receNed funding to SUPPKJrt her edLK8tion vthilst Iravèlling and mpetIJ on the World Cup drculi. Mia became the ungest wortd chamFion in sntJvboardirMJ hislory al the age of 16 in February 2023. whan s)n the Vlomen's slopestyle gold al th8 SnovA)oard, Freestye and Freeski Wodd Championships in Georgia. To ensure the most deseTving Joung reop receive grants. we Invite British Ski and Snowboard the horne nations Sn(TrNsport organisalions to nominate young alhletes. Athletes then complete an applicalion. making clear why Ihey have a finanaal ne&J 8ssi%lance. The Tnjslees then decide vth8re grantg wwld mako tha greatest impac4. Both Sc(t aThJ Mrd r¢ceived grants thrjgh this rrMJte. Page 2
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Llmlt8ql by Guarante•l TRUSTEES. REPORT ICONTINUEDI For the yèar ond•d 30 June 2023 ObiKtivo5 and actlviti•s Icontinu•d) c. Maln aGtSvltles undert•k•n lo further the Ch•rlty's purposes for the publlc ben•fit In sgtting objective5 and plning fcr activities. the Trustees have given due considgralion to general guidance puUish8d by the Charity Commission relatiNJ lo p)lIC benerrt. Sncluding the guidance'Public benefft.. Nnnlng a charity (PB21', and this has been a key consideration when settir¥J its gront-making policy. The ajarity has 8UPPCrft8d th indivldual athl8tes and projects that increase communty and grassroots partiopation In SnowsFQrt. and we have gnsurgd that there is a suitable balance bgtjveen of these priotiknes to lfill 1JationS r8gardiNJ public benefit. Achl•voments and p•rfombanc• Flnanclal r•vlow a. Golng conc•rn After making appropriate enqUirS. the Tw5tees have a reasonable eXpeCtatn that the Charity ha5 adequate resources to continue in operati¢Mal existence for the foreseeable future. For this reason. they conttnue lo adopt the going concem basis in preparing the financial Statements. Further detaiL8 regarding the adoption of the goiTrJ concem basis can be fwnd In Ihe occounling policles. b. RMerYo6 policy The (¥ty has a of holding sufflcient reserves to cover it8 plann6d grant-making activitl88. ts level of which can vary frorn year lo year. Now the Charity is rnc established. li has been able lo build a bese of funds and at balance shee*t dale general funds trjalled £37,918 (2022: £40,632) and restrkled fund$ totallgd £10.00012022= £7,CKJOI. c. Flnanclal revl•w A small of individual don and charitable foundations continue to be the main sources of fundraising revenue. increasing cmjr base of dor9 1$ a priority for Ihe Trustees. With a new strategic implements1n plan tivated, the Charity is confident of growth in income streams over the next four years. Page 3
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION (A Company Llmit•d by Guarantvl TRUSTEES. REPORT (CONTINUED) For tho ar èndod 30 Jun• 2023 Structurn, govornance and manag•m•nt . Constilution Brftish Ski & SnOwbr National Foundatlon Is reglstered as a tharftsble company Ilmit by guaranlee and was 58t by a Memorandum ol As80ciation. b. Mgthods of appolnlmwrt or el•ctlon of Trustms ManeMent of the Charity Is the respcMsibility of Ihe Trustees are elected and coPted urKler term5 ofthe Memorandum of ASla110n. c. Organlsatlonal $tructur• and d•ci•ionrymaking polici•s The Brftish Ski & Snowtx)ard Nalional Foundation has a Trust8e Board of four. The Board is responsible for th8 ovwall running of the Charity. The Charitys Arkn¢tes of Association sel a minimum of Ihree Trustees, with no maximum number. Futuro ourfook Sntrwsport Is an area of professlonal swt Ihat has beon histicalY Underfded. We have seen first-hand the challetb3es that athletes have laced, not onFy over th8 last year. We krW how many innovative community- based programmes have been unable to I8Ch due to lack of funding. Now w8 need to bulld uwn proven track record. aimiTrJ to rise to the ocGasion in Ihe coming year5 to meei Ihe growng ed in the SrM)wsport spa. Our aims are trj provide the needed annual support lo help fimd athletes, create access for all, and d8vebp palhway rKogrammes that give alhletes the support and trainiNJ needed for a successful 2026 Olymp and ParalpIC Games. In rent years we have mado great stridg$ forward to support and foster advancemenl in winter sports. ThrrAJgh mlh5 of planning. we have created a comwehensive four-year strategic plan that when immentsd Klll emp0r BSSNF to 8xTry our Impact even further. Page 4
THE BRITISH SKI & SNOW80ARD NATIONAL FOUNDAnoN (A Company Llmltod by Gu•rants•) TRUSTEES REPORT (CONTINUED) For th8 ended 30 Jun• 2023 SoMent of Trustse$' rgspon$lbllltl•$ The Trustees (who are also the directors of the Charity for Ihe purposes of company law) are resronsible for preparing the Tnjsiees. Rewt aThY the financial statements in acojrdance with applicable law and Uniled KIngrn A(x))Jntw)g Stsndwds (United KiThJdom Generally Acc8ptsd Accounting Practice). Company law requires lh8 Trustees to W8pare financial $ements for each fin8ncial year. UNler company law. the Tntstees must rnt apKrcNe the financial statements unless they are $8tisffietl that Ihey give a true and fair of the state of affairs of the Charity and of Its incDming re5w[S and application of resource8, including its irK£me and exFenditure. for ttrwt pertoj. In preparing these ffnancial statements. Ihe Trustees are r6quired to.. select suitable accountirg policies and then apptythem consstenljy: obserye the methcts arKI pJirKirAes of the Charities SORP (FRS 1021., make Igements and ac¢cnting estimates that are reasonable and rudent. stale %thether applicable UK Accounting Slandards IFRS 102) have been fdlowed, subj1 to any material departures disd0s explained in the financial Statemer. epare Ihe ffinano81 statements on the goiTrJ con(m basis unless it Is Inappropri818 to presume that the Chartty will Contin in bu8irtss. The Trustses are responsIe lor keeplrvJ adequate accounung re(JS that are sufficient to show and exF4ain the Chariws transactions and disclose wth r8asonable accuracy at any time the financial posi11 of Ihe Charity and enable them Io 8nsure that Ihe financial statements comply wth the COmpanS A(a 2006. They are atso resp)nSIb for safeguarding the assets d the Chity aThl hee f(f taking reasonable $18ps for the pr8ventTon 8TrJ deltion of fraud and other irregulariti88. Approved by order of Ihe memb8rs ofthe boa Pustees and signed on their behalf by. n Rltblat Chaimian Date..
THE BRrrisH SKI a SNOWBOARD NATIONAL FOUNDATION (A Company Llmit¢d by Guararbte•l INDEPENDENT EXAMINER'S REPORT For the year ond•d 30 Jung 2023 Ind•p9ndent Examlnerfs Rfjptxt to the Trustees of The British Skl & STrowboanl Natlonal Fourtdatlon I'th$ Charlty} I rep(rt to the charity Trustees on my examinalion of the aCcOts of the Chadty for the ar ended 30 June 2022. Rasponslbllltl•s and 8asls of Report A8 the Trtte88 of the Charity laThl 118 direclrxs for the purposes of LTh)pany law) are responsible for the proparation of ac¢oun18 In C(¥dae with the requirements ofthg Companies Act 2006 Ilhe 20 Acr). satisfied mysdf that thg accounts of Ihe Charity are not required lo be audited under Part 16 of the 2c6 Act aThJ are eligible for lThJep8ndenl examinalK)n. I rep)rt in respect of my examinalirm of the Charitys accounts carried out under seclion 145 of Ihe Charithe5 Act 2011 Ilhe 2011 Acl'l. In carying out my examination I have follcpHgJ the DIrtiO given by the Charity Commission under secllon 145(S)Ib) of the 2011 Act. Independent Examlnetrs Statemont I have complelod my examrnotton. I Confi that rn matters have come to rny attenlknn in connecliLM With the examination giving me cause to believe.. ac¢wnting reetsds were not kept in resrttt of the Charity as reqUId by seclion 386 of the 2006 Acl: or the ac£ounts (Jo rnt accord wlh those records,. or the accounts do Tr)1 CoMY with th8 &rAwnting requirnants of section 3% of the 2006 Act other than any requirement Ihal thè accounts gN6 8 'true and fairf view which is not 8 matter considered a5 part of an ind8pen(Jent examinauon; or Ihe accounts have not bgen prwared in a¢wrdance wilh the methods and principles of the Slalemenl of RecmMerK1ed Practice for accujnting and reporting by charities (applicable lo charities prepariNJ thgir 8CC)unts in acc4)rd8nce vAlh Ihe Financi81 Reporting Standard applicable in tho UK 8ThJ ReputlC of IrelwKI IFRS 102)). I ha no con(ms and have ¢ome acrL%S no other matters in comadion wilh the examinalK)n vthi¢h attontion SI)1 be drawn in this rwt in (Ydgr to enable a proper und8rslanding of the accounts lo be rgached. This rep)rt 18 made solety to the Chariws Trustees. as a body. in accordence with Part 4 of th8 Charities (Accounts and Reports) Regulallons 2(. My wk has been undertaken 80 that I might slate lo the Charitys Trustees those matters l am required lo state lo them in an Independent ExamineVs R8POrt and for no other purF•)se. To the fullest extent pemiitted by law. I do not accept or asyjme reSnSIbIlity lo anY(e other than the Charity and Ihe Charitls Trustees as a bc¥Jy. for my wk or for this report. Signed.. Dated.. 12.04.24 Martin Balley FCA Goc#Yman Jones LLP 29r30 Fitzroy Square London W1T 6LQ Page 6
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI For th8 year endèd 30 June 2023 Unrestrictèd funds 2023 R•stri¢ted funds 2023 Total funds 2023 Total funds 2022 Note Income from= Donations and legacies 24,079 18,000 42.079 185,462 Total income 24.079 18,000 42,079 185,462 Expendlture on.. Charitable activities 36,793 15,01)0 51,793 230,6f2 Total trxpendlture 36.793 15,000 51.793 230,612 Net movement in funds 112,7141 3,000 19,7141 (45, 750) Reconciliation of funds.. Total funds brought forward Nel fflovemenl in funds 40,632 112,7141 7,000 3,000 47,632 {9,7141 92, 782 (45, 150) Total funds carried foThvard 27,918 10.000 37.918 47.632 The Statement of Financial AGlivilies inclu(Jes all gains and10sses recogni5ed in the year. The notes on pages 910 18 form part of these financial statements. Page 7
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Limlted by Guarante81 Re9lst•rÉd number: 09617543 BALANCE SHEET As at 30 June 2023 2023 2022 Note Fixed as5et5 Tangible assets 38 57 38 57 Current assets Debtors Cash al bank and in hand 10 6,611 98.583 42,800 42,800 105, 194 Credilors.. amounts falling due wthin one year 14,9201 (57,619) Net current assets 37.680 47,575 Total assots less curroflt liabilities 37.918 47,632 Net as$ets 37,918 47,632 Total net 855ets 37,918 47.632 Charity funds Reslricted funds unStricted fLJnds 10,000 27,918 7.000 40,632 13 Total funds 37,918 47,632 The Charity was entitled to exemption from audit under se¢tion 477 of the Companies A¢1 2006. The members have not required the company lo obtain an audit for the year in question in accordance with seGlion 476 of Companies Act 2006. The Trustees acknowtedge their resp(sIbIlitieS for complying wlh the quIrementS of the AGt wlh respe¢l lo accounting records and preparation of financial slalemenls. The financial slatemenls have been prepared in a¢¢ordance wth the provisions applicable lo enlilies subject to the small ¢ompanies regime. The financial slalements were approve*<nd authorised for issue by the Truslee5 2nd signed on their behalf by.. Sir John Ritblat Chairman Date". The notes on es 9 to 18 form part of these financial stslem8nts. Page 8
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION (A Company Limitèd by Gu•rnnt•el NOTE8 TO THE FINANCIAL STATEMENT8 For the year •nded 30 Jun• 2023 G•n•ral Inforn)alion The British Ski & Snthrtard National Foundalron Is a chaTilable company, Ilmiled by guarantee. registered in England and Wales. aThJ Ythose r8gislered office address is 101 New Cavendish Slrt. Lonth)n. W1W 6XH. The Charitys objects ar8 set out in the Trustees. Report. £counting poIi¢io8 2.1 8asl8 of pr•paration of financial stat•m•nt8 The financial slatem8nls have prepared In acCOrdae the Charities SORP (FRS 1021- AccountwwJ and Reporlirg by Charities: Stslefflenl of Rgcommended Practice applicable lo ¢haritlgS preparing their accounls in acc(Kdanoe wilh the Financial Rep)rling Slandard appltcable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 2019). the FNiancial Reporting Standard applicable in the UK and Rewblic of Ireland {FRS 1021 and the Companles Act 2CQ6. The Brilish Ski & Snovtjoard Nalicthl Foundalion meets the defini11( of a publ benefit lty under FRS 102. Assets aNI liabllilies are initially recognised at histori1 cost or transaction value unless otheThMse staled in the relevant accounting policy. The financ4al staternents are prepared in Slerfing. the funclional CU8ncY of the Charity, and amcunls are roundaj to th8 nearest L 2.2 Golng concèrn The Charity k8 reliant LP)n donations to meet ils daY-ldaY runnirKJ cost8. and grant-making activibe5. The Challty has recaved assurances that donations will conknnu8 to b8 avai18bie from the Tnjstees andlor connected organisations. AS a resu. the TNstees consider it appropriate for the firrKia statements to be wepared on the going con¢ern ba$i$. 2.3 Fund accountlng Gengral fvnds unrestricted funds vknich are available for use at the discreknon of the Trustees in furtherance of the general objectlves of the Charity aThJ have not been desSgnated for other PU¥F)ses. Restrictsd fvThds are funds hich are lo be used in accordance with specifK reslriclions imwsed by donors or which havè bèèn raisÈd by thé Charity for particu18r rxJrposÈs. Thè costs of raising and administermg such funds are charged against the specific fvnd. The aim and use of e&h restricted lund is set out in th8 notes lo the financial stalements. Page 9
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Llmlted by Guar4nteo1 MOTES TO THE HNANCIAL STATEMENTS For thè yèar •nd8d 30 Junè 2023 Accountlng pollcl08 Icontlnuodl 2.4 Incomo All inc(Mne is recognised onts the Charity has entitlemerrt to Ihe income. il is probaw that the Inme will be received and th& amcrfjnt of Income recehrabl& can be measured reliably. L)onallon5 and investment Inme are recognised vthen recdv8ble. Gr8rts a 1ndLKI in the Ststement of Financial Activittes on a rtteiv8ble basis. The balance of income received specific purpx)ses but not expended duriro Ihe period is shovm in the relevant nds on the Balm Sheet. Where income 18 received in advan¢% of entitlement of receipL its recognitkj) 18 deferral included in creditors as deferred irtoma. Where entitlement txcurs b8fore incom8 1$ receivgd, the rrKome 1$ accrued. Income tax recovernble in relallon to dOnaOn8 received urKter Gift Aid c deeds of covenant is reccgniwl at the time of the donati(x). 2.5 Int•rest roc•ivable Interest on funds held on dep)S L8 includeAJ when receivable and the amount can measured reliabfy by the Charity,. this is normally uwn n0tffjation of ts interest pahj C payable by the institution with whom the funds are depostted. 2.6 Expenditu ExpenditLre is reccgnised On there is a legal or conslruclive clIgation to transfer eC(niC ber11 lo a third party, 11 19 probable that a tr8nsfer of economlc benefits VAII be required In settlement and the amount of the oblallOn can be measured rgliably. Expenditure is classified by actiwty. The costs of each aCty are made up of the total of direct costs and shared costs. Including support costs invc4ved in undertaking each acuvty. Dlrect costs attribulable to a single acliwty are allo(8led diredy to thal activity. Shared costs which contribute to more than aclivity and support costs are not attributable to a single activity are apportioned between those acliviknes on a basis cc51$19nt wilh the use of resources. Cenlral staff costs are alk)cated Ihe basis of time spent. and deweckation charges allocated on the Forticn of the asset's use. Expendtture cm charitable ltleS is lThxrrad on directty undertaking the a¢tivities fvrther the Charitys objeGtivo•, as well ats any asaooated Jupport cost•. Grarts paydbie are tharged in the year vthen the offer is made except in Ihose cases %there the offer condittonal, such grants tlng re(tynised as expendilure %then the conllilions 8ttachiryJ are fulfilled. Grants offered sutyect to conditi¢Ms wlNch have not been met at the year end are ncrted a8 (Knmilmenl. bul nol aru¥d as expenditure. All experlture Is IluSive of ier1)verable VAT. Page 10
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION {A Company Llmltsd by Guarant•o) NOTES TO THE FINANCIAL STATEMENTS For the yoar end•d 30 June 2023 Accountln9 pollcl•s {contlnu•d) 17 Tanglblfj flxod a650ts and qlopT•clall¢Jn Tangible fixed assets ojstlng £NIL cw more are capitalisèl and rvJcgnlsed when fuiure ec()fmIC benefits are prctsble and the cost or value of the asset can be measured reliabty. Tangible fixed assets are inilialty reccJni8od at Cost. After re¢ognition. under the cost m(91, tangible fixed assets are measuwl at cost K8ss accumulalod depreciation and any aUMulated impaimient losses. All cos18 IIKurred lo briNJ a tsngible fixed asset into its intended working condtiion should be in¢ded In the measurement of cost. DeFfeaatK)n Is charged so as to albcate the cost of tarvjlble fixed assets less their resldual value over their eslimated useful lives. . DeweciatKn Is provlded the foYlovAng basis: Office equIent 33.33% Reduc4ng Balance 18 Dobtors Trade and other debtors 8re reccNJnised al the 8ettlwmenl amount after any trade discount offered. Prepayments are valued al the amwnt prepaid net of any Irade discounls due. 2.9 Cash at bank and in hand Cash at bank and In hand includes cash and short-t8rm highly liquid invostments V+ith a short maturty of Ihree months or less from the date of acquisilion or opening of the deposit or slmilar aCCnt. 2.10 Llabllltles and provlslons abilities ¥e recognised when th8re is an obiTgaknon at the Balance Sheet date as 8 resum of a past evenl, it is probable that a transfer of economic benefit wll be rjUIred in 9ettlemenl, and the amount of the settlnent can be estimated reliabty. Liabilities are recowised at the amcmjnt Ihat the Charfty anllcip8tes it I11 pay lo settle the debl or the emwnt it has recavcd aa odvancod p•yThvnts for the 9oodJ c a¢M¢o• it mu•t provide. Prowsions are measured at the b8St esllm8te of the amounts required to settle the obltI(. Where the effect of the time value of money is material. the wovision is based on the present value of those amounts, discount at the pre-tax discount rale thal rellects th8 Tisks 5CifiC to the 118t41ity. Thg unwIling of the discount is recog)ised in the Stalement of Financial Aciivities as a finan cost. 2.11 Flnanclal In$trumw The Charity only has ffftancial assels and financial liabililies of a kiThJ that qualify as b88ic firwKial instruments. Basic financial instnjments are initially recognised at transacfjon value and subs8]uenlly measured at their settlement value wilh the exception of bank kians which are subsequerty measured at amortlsed cost using th8 effective intwesl method. Page 11
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Limited by Guarantee) NOTES TO THE FINANCLAL STATEMENTS For the year ènded 30 June 2023 Critical accounting estimatès and areas of judgèm8nt Eslimales and judgerllenls are continually evaluated and are based on historical experience and olhei factors, including expectations of lulure events Ihal are believed lo be reasonable under the Ciicumst8nces. Critical accounting estimates and assumptions.. The Charity makes eslirnales and assumptions Gonceming the ILrture. The resulting accounting estimates and assumplions will, by definition, seldom equal the relaled actual results. TheTe are no eslimales or assumptions that have a significant risk ol catjsing a material adjustment lo the carrying amounts of assets and Iiabililies wlhin Ihe next financial year. Income from donatlons and legacies Unrestrfctgd funds 2023 R¢striclèd funds 2023 Totsl funds 2023 Tolal funds 2022 Donalions 24,079 18.000 42.079 185.462 Tolal 2022 85,462 loo,000 185,462 Analysls of expondlture on charttable activilios Surnmary by fvnd type Unrèstrlctgd fund$ 2023 R?stricted funds 2023 Total 2023 Total 2022 AdvancerTrenl of sport 36,793 15,000 51,793 230,612 Tolal 2022 45,537 185,075 230,612 Page 12
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the yoar endèd 30 June 2023 Analysi5 of exp&ndlture by activitiès Grant funding of activitios 2023 Support Costs 2023 Total fund$ 2023 Tolal funds 2022 Advancement of sporl 15,000 36,793 51,793 230,612 Tolal 2022 185,075 45.537 230,612 Analysls of support costs Total funds 2023 Tota funds 2022 Depreciation Accounlancy and indeperKlenl examination Computer costs Bank charges Legal and professional 19 29 2.820 2.210 23 31.721 2,520 2,511 49 40,368 36,793 45,537 The Charity employed no staff in either Ihe current or prior years. Page 13
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS For the year endgd 30 June 2023 Analysis of grants Grants to Grants to Institutions Individuals 2023 2023 Total tunds 2023 Total funds 2022 Advancement of Sport 15.0) 15,000 185,075 Total 2022 147,075 38.000 185,075 Trusteos. remuneration and exponses During the year. no Trustees received any remuneration or other benefits {2022 - £NIL). Dunng the year ended 30 June 2023. no Trustee expenses have been incuried (2022 - £NIL). Pa9e 14
THE BRITISH SKI & SNOlhlBOARD NATIONAL FOUNDATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For thè yèar ended 30 June 2023 Tangible fixed asset5 Offlce oquipmenl Cost or valuation Al 1 July 2022 655 AI 30 June 2023 655 Deprèeialion At 1 July 2022 Charge lor the year 598 19 AI 30 June 2023 617 Net book valu• At 30 June 2023 AI 30 June 2022 57 10. Debtors 2023 2022 Duè within one year Prepayments and accn*d income 6,611 6,611 Page 25
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Llmited by Guarantèè) NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2023 Creditors: Amounts falling due withln one year 2023 2022 Trade credilors 55,099 2,520 Accruals and deferred incorne 4.920 4.920 57,619 12. Financlal instruments 2023 2022 Financial assets Financial assets measured at fair value through income and expenditure 42,800 98.583 Financial assels measured at fair value Ihrough income and expenditure comprise cash at bank balances. Paga 16
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year endod 30 June 2023 13. Statèmént of funds Statfrment of funds - current year Balance at 30June 2023 8alan¢e at 1 July 2022 Incomg Expendlture Unrestrlcted funds General Funds- all funds 40,632 24,079 {36,7931 27,918 R8striclod fund$ Grant Making Fund SimDn Nimmo 7.000 8.000 10,000 (15,0001 10.000 7.000 18.000 11S,0001 10.000 Total funds 47.632 42,079 151.7931 37,918 Statement of funds- prior year Balance al 30 June 2022 8alance al l July 2021 Income Expgndrture Unrgstricted funds General Funds- all funds 701 85,462 (45,537) 40,632 R8stricted funds Grant Making Fund 92.075 loo,0 (185,075J 7,01 Total funds 92, 782 185.462 (230,612) 47,632 Restricted funds Gomprise.. Grant Making Fund lunds received specifically for the Charrtys grant making programme from The Sacklei Trust and The Prafarata Foundation. Simon Nimmo- fun(Ss received for specific aclivilies. Pa9& 17
THE BRITISH SKI & SNOWBOARD NATIONAL FOUNDATION IA Company LimSted by Guarant801 NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 Jun• 2023 14. Analysis of nèt assets between funds Analy$l$ of n81 ass•l$ bets¥•èn funds- currgnt ygar Unre$lrictèd funds 2023 Roslricted funds 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 38 32.800 14,9201 38 42,800 14.9201 10.000 Total 27,918 10,000 37,918 Analysls of ngt assels bètween fund$ - prlor year UnreslriGled funds 2023 Reslricled Total funds 2022 2022 Tangible fixed assets Current assets Creditors due within one year 51 57 98, 194 (57,619) 7.000 105, 194 (57,619) Total 40,632 7,000 47,632 15. Reloted party tran$actions During th8 year, th8 Charity received a don2t40ns totalling £28,000 12022.. £102,000) from foundations with trustees in common. of which £8,000 12022.. £100.0001 was reslricled for specific purposes as detailed in note 13. Other than disclosed elsewhere in the financial slalemenls. Ihere are no Iransaclions th related parties requiring disclosures in the currenl or prior years. Pag8 18