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 DET￿Ls OF THE CHARITY, ITS TRUSTEES ANO ADVISERS For the yaar endèd 30 June 2023 Tru$l8• Sir John Rilblat, Chaimi2n Michael Cohen Victoria Gosling OBE I￿ signed 28 July 20231 Nicholas Tapner Company registerod numbor 09617543 Charity regist8rèd numbér 1167331 Reglslered office 101 New Cavendish Slreel London W1W 6XH Accountants and Ind•pendont Examinor Martin Bailey FCA Goodman Jones LLP Chartered Accountants 29130 Fitzroy Square London W1T 6LQ Bankers Royal Bank ol Scotland London Corporale Bank Centre PO Box 39952 212 Devonshire Square London EC2M 4XJ Paoe 1 THE BRITISH SKI & SNOW80ARD NATIONAL FOUNDATION IA Company Limlted by Guarant••) TRUSTEES. REPORT Foi tho year 8nd8d 30 Jun• 2023 The Trustees present Iheir Arnual Rèport toget￿r with the f￿anCial statements of th8 Charity for the year 1 July 2022 to 30 June 2023. The Ann￿1 RepKJrt serves Ihe purposes of bolh a Trustees, Report and a Directors, Report under Gompany law. Tl* Trustees confimi thal Ihe Annual Report and Financial Stalemenls ol the charitable company c(ffiply with current statutory requirements. the requir&ments of Ihe charitsble companls uN)verning document and the provisbns of the Slatemenl of Recommended Praclce ISORPI ap￿￿1￿8 lo thariiies preparing thdr accounts in accordance with Ihe Financial Reporting Slandard applicable in the UK antl Re￿bI￿ of Ireland (FRS1021 (effective 1 January 2019}. Since the Charity qualrfi8s as small under sèctton 382 of the Companies Act 2¢Xh5. the Strategic Re￿rt r￿1r8d of m&Jium and large Companies under Ihe Companies Act 2006 (Strategic Report and Direct￿$. Rewt) Regulati¢Ms 2013 has b8en omthd. ObJ•ctlvos and actlvltles . Pollde5 and Ob￿ct5V The oblects of The Brfush Ski & Sncwb08rd NatiC￿al 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 Ol￿r 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 L￿Cupation of such p8r50ns have need for such facililies by reas￿ of their youth. age, infimity or disabl8men( or SOL?al or e￿nOMiC circumstance or for the public at large in the 5nlerests of soclal welfare and wth the (knjed of improving their condi11￿8 of life., a)d trj advance the edL￿ti￿ ofthiklren and young people. through buTsaries. b. Pxtlvftlos undertaken to achhvo ab￿CtIveS 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-athI￿e8 wi intemati￿1 Ski and SnO￿T￿ c¥Jnpetitions. 33 World Cham ionshi Scott received funding to SUPP￿ trainiro and physio S￿pOrt in preparation for the 2023 Para Nordic Worfd Cham￿￿OnshIP where S￿tt 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 lrvji￿dUal knathlon C￿nI. 16 sls £8 000 Mia receNed funding to SUPPKJrt her edLK8tion vthilst Iravèlling and ￿mpetI￿J 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 thr￿jgh 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 pl￿ning 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 t￿h 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 l￿fill ￿1￿JationS r8gardiNJ public benefit. Achl•voments and p•rfombanc• Flnanclal r•vlow a. Golng conc•rn After making appropriate enqUir￿S. the Tw5tees have a reasonable eXpeCtat￿n 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 do￿r9 1$ a priority for Ihe Trustees. With a new strategic implements1￿n 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 & SnOwb￿r￿ 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 Man￿eMent of the Charity Is the respcMsibility of Ihe Trustees are elected and c￿oPted urKler term5 ofthe Memorandum of AS￿la110n. c. Organlsatlonal $tructur• and d•ci•ionrymaking polici•s The Brftish Ski & Snowtx)ard Nalional Foundation has a Trust8e Board of four. The Board is responsible for th8 ovwall running of the Charity. The Charitys Arkn¢tes of Association sel a minimum of Ihree Trustees, with no maximum number. Futuro ourfook Sntrwsport Is an area of professlonal swt Ihat has beon hist￿ical￿Y Underf￿ded. We have seen first-hand the challetb3es that athletes have laced, not onFy over th8 last year. We kr￿W how many innovative community- based programmes have been unable to I8￿Ch due to lack of funding. Now w8 need to bulld uwn proven track record. aimiTrJ to rise to the ocGasion in Ihe coming year5 to meei Ihe growng ￿ed in the SrM)wsport spa￿. Our aims are trj provide the needed annual support lo help fimd athletes, create access for all, and d8vebp palhway rKogrammes that give alhletes the support and trainiNJ needed for a successful 2026 Olymp* and Paral￿￿pIC Games. In r￿ent years we have mado great stridg$ forward to support and foster advancemenl in winter sports. ThrrAJgh m￿lh5 of planning. we have created a comwehensive four-year strategic plan that when im*mentsd Klll emp0￿r BSSNF to 8x￿Try 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 S￿oMent 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 KIng￿rn 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 methc*ts arKI pJirKirAes of the Charities SORP (FRS 1021., make I￿gements and ac¢c￿nting estimates that are reasonable and r￿udent. stale %thether applicable UK Accounting Slandards IFRS 102) have been fdlowed, subj￿1 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 responsI￿e 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 COmpan￿S A(a 2006. They are atso resp)nSIb￿ for safeguarding the assets d the Ch*ity aThl he￿e f(f taking reasonable $18ps for the pr8ventTon 8TrJ del￿tion of fraud and other irregulariti88. Approved by order of Ihe memb8rs ofthe boa Pustees and signed on their behalf by. n Rltblat Chaimian Date.. THE BRrrisH SKI a SNOWBOARD NATIONAL FOUNDATION (A Company Llmit¢d by Guararbte•l INDEPENDENT EXAMINER'S REPORT For the year ond•d 30 Jung 2023 Ind•p9ndent Examlnerfs Rfjptxt to the Trustees of The British Skl & STrowboanl Natlonal Fourtdatlon I'th$ Charlty} I rep(rt to the charity Trustees on my examinalion of the aCcO￿ts of the Chadty for the ￿ar ended 30 June 2022. Rasponslbllltl•s and 8asls of Report A8 the Trt￿te88 of the Charity laThl 118 direclrxs for the purposes of LTh)pany law) are responsible for the proparation of ac¢oun18 In ￿C(¥da￿e 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 2c￿6 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 DIr￿tiO￿ 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 reqUI￿d by seclion 386 of the 2006 Acl: or the ac£ounts (Jo rnt accord wlh those records,. or the accounts do Tr)1 CoM￿Y with th8 &rAwnting requi￿rnants 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 Rec￿mMerK1ed 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 Reput￿lC 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 w￿k 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 reS￿nSIbIlity lo anY(￿e other than the Charity and Ihe Charitls Trustees as a bc¥Jy. for my w￿k 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 un￿Stricted 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*