## **ROYAL AIR FORCE GOLF ASSOCIATION CHARITABLE INCORPORATED ORGANISATION**
## **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2021**
**CHARITABLE INCORPORATED ORGANISATION CIO NUMBER 1182978**
Independent Examiners Limited Unit 2 The Broadbridge Business Centre
Delling Lane Bosham West Sussex PO18 8NF
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## **ROYAL AIR FORCE GOLF ASSOCIATION**
**CONTENTS** Pages 3 to 6 Trustees Report Page 7 Independent Examiner's Report on the Accounts Page 8 Statement of Financial Activities Page 9 Balance Sheet Pages 10 to 14 Notes to the Financial Statements
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## **ROYAL AIR FORCE GOLF ASSOCIATION**
## **TRUSTEES REPORT LEGAL AND ADMINISTRATIVE INFORMATION**
**START OF FINANCIAL PERIOD END OF FINANCIAL PERIOD**
1st January 2021
31st December 2021
Charitable Incorporated Organisation
**LEGAL STATUS GOVERNING INSTRUMENT** CIO Association Constitution
**CIO NUMBER** 1182978 **PRESIDENT**
AVM Steve Shell
Wg Cdr J Parr Chairman Sqd Ldr P Mardon Director Support Flt Lt M Bown (resigned December 2021) Director of Finance Sqd Ldr T Stone Director of Governance Sqn Ldr A Wilson Director of Membership Sgt C Kinvig Trustee Sgt E Shippin (resigned October 2021) Trustee Sgt S Mudd (appointed October 2021) Trustee
**TRUSTEES IN OFFICE DURING THE YEAR TO 31ST DECEMBER 2021**
Chairman is appointed by AOC 22Gp. Other Executive Committee members are volunteers, approved by the Chair or Deputy Chair and formally ratified by the full committee at the AGM. Trustees are formally appointed at the AGM.
All trustees receive a full, in person, handover by the previous incumbent. A written handover brief is given to the new trustee along with detailed Terms of Reference. The outgoing trustee will often stay in contact with his/her replacement to act as mentor.
## **CORRESPONDENCE ADDRESS**
## **PRIMARY BANKERS**
## **INDEPENDENT EXAMINER**
## **OBJECTIVES**
Room 43, Kermode Hall Royal Air Force Halton Aylesbury Buckinghamshire HP22 5PG Royal Bank of Scotland Holt's Military Banking 200 Fowler Avenue Fowler Business Park Farnborough Hampshire GU14 7JP J Irvine-Smith FCIE Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
The Charity has the powers as defined in the Constitution, which may be exercised only in promoting the Objects.
The objects for which the CIO is established (the “Objects”) are to promote the military efficiency of Her Majesty’s Armed Forces in such charitable ways as the Trustees think fit with particular reference to: (a) increasing physical fitness (b) fostering esprit de corps; and (c) raising morale of members of the Royal Air Force; in particular (but not by way of limitation), the Trustees may further the object through encouraging and facilitating the participation in, and provision of or assisting in the provision of facilities for Golf in the Royal Air Force.
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## **ROYAL AIR FORCE GOLF ASSOCIATION**
## **TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **PURPOSES OF CHARITY**
To deliver sporting opportunities through Golf for Her Majesty’s Royal Air Force and to build successful teams to win at the highest level thereby promoting RAF ethos and contributing to the recruitment, development, sustainment and retention of our personnel.
## **ACTIVITIES**
- Men’s Representative Team that involves, trg camps, fixtures and playing in the Inter Services.
- Ladies’ Representative Team that involves, trg camps, fixtures and playing in the Inter Services. Men’s Development Team that involves, trg camps and fixtures.
- Ladies ‘Get Into Golf Days’ to encourage greater participation in golf by RAF Ladies.
- 4 regional stroke play events for all standards of golfer and a Ladies novice coaching day.
- RAF Stroke-Play Championships
- RAF Handicap Championship
- RAF Match Play Championships.
- 3 pairs Championships.
- Various fixtures for all RAFGA members.
- Subsidise coaching grants to RAFGA members. End of Season presentation evening.
## **PUBLIC BENEFIT**
The trustees have received training and guidance for their role and have been mindful of the guidance issued by the Charity Commission on public benefit
## **GRANT MAKING**
The underlying principle of the RAFGA is to provide serving and veterans, the opportunity to play golf in a competitive environment at a reduced cost. As such, all revenue generated through membership fees and sponsorship provides an opportunity for us to award grants to each competition we run in order to reduce the cost of entry fees. In addition, a system of subsidising coaching is in operation across the association, starting at the grass roots level of ability and benefiting a wide spectrum of serving men and ladies and members of the RAFGA may receive individual grants to subsidise the cost of professional coaching and regions or teams may receive further grants to subsidise the cost of group coaching.
## **SOCIAL INVESTMENT**
Due to the unique nature of each competition, golf remains one of the few sports where individuals of any ability can compete equally with more skilled players due to the handicapping system. As such, the RAFGA is in a position whereby we can offer the opportunity to expose our personnel, irrespective of ability, to a competitive golfing environment. In addition, the basis of the sport is built upon integrity and a unique sporting etiquette where participants indeed ‘referee’ themselves and as such this helps nurture our people, the skills needed to be the best public servant; whilst improving their mental agility, focus, discipline and physical robustness through the demands of the sport.
## **VOLUNTEERS**
It is acknowledged that sport in the RAF is delivered through the aegis of the Sports Associations and the willing, enthusiastic volunteers who undertake roles on the Executive Committees and in the associations. The delivery of RAF competitions would not be possible without officials, all of whom are volunteers. The contribution in these roles is highly valued and much appreciated and recognised as a duty activity in Service policy documents.
## **ACHIEVEMENTS AND PERFORMANCE**
The RAFGA has maintained its current membership levels and therefore, membership income. During the year a total of 12 competitions and 20 fixtures for representative teams were facilitated. This resulted in approximately 2500 rounds of golf being played and 1000 individual opportunities for RAF personnel to participate in sport.
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## **ROYAL AIR FORCE GOLF ASSOCIATION**
## **TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **ACHIEVEMENTS AGAINST OBJECTIVES**
As the RAFGA aims to provide competitive sport to all abilities at the lowest cost to the individual as possible the delivery of 12 competitions and 20 fixtures resulting in c2500 rounds of golf, the Trustees’ agree that the RAFGA has met its objectives and promoted the effectiveness of Her Majesty’s Armed Forces by increasing physical fitness, fostering the esprit de corps and raising morale of members of the Royal Air Force and other services in an inclusive and safe environment, through the promotion of participation and furthering its proper administration whilst enabling the provision of facilities for golf.
## **FUNDRAISING ACTIVITIES AGAINST OBJECTIVES**
In 2021, the RAFGA has maintained its level of membership income whilst increasing sponsorship income by
## 25%. **INVESTMENTS**
The RAFGA does not undertake any investments out with maintaining a current bank
## account. **FINANCIAL REVIEW**
The RAFGA achieved an excess of income over expenditure of £100,269 on revenues of £39,981. This includes funds transferred from the Excepted charity in May 2021.
Whilst the charity’s funds are currently sufficient to meet the objectives, there has been a significant increase in the hire of golfing facilities as a result in the surge of demand for golf as a result of COVID. Unused 2020 membership subs have been used to subsidise activities over 2021 and we will need to adopt this approach in 2022; thus, in essence the association is making a loss and thus using reserves. This coupled with a significantly reduced grant from the RAF Central Fund in 2021 does provide significant concern for the mid to long term provision of its activity; it is forecasted that with current expenditure and reduced RAF Central Fund grants any reserve funds will be reduced in the next 5 years to c£20k-£30k which will serve as a contingency fund.
## **RESERVES**
The RAFGA’s long standing policy on holding reserves to cover the potential reduction in the relatively volatile areas of sponsorship, membership fees and RAF Central Fund grants has served them extremely well e.g. ensuring the continued operation of the association even in years when income has been lower than anticipated. When income has equalled expected expenditure, reserves have been used to fund ad-hoc events (e.g. get into golf days) and reduce personal contributions for development/grass root activity to encourage new members. External sponsorship is a key income for the association, however, the failure of the centrally controlled sponsorship model (Mongoose) and difficultly in attracting external sponsorship has left the association in a precarious position in terms of sponsorship, ultimately resulting in reserves being used to cover the shortfall. This problem has been further exacerbated by the significant reduction in the Central Fund grant for 2022 and notification that this will continue for subsequent years. Therefore, if activity is to remain at the levels of 2021, reserves will be required and its forecasted that with current expenditure and reduced RAF Central Fund grants any reserve funds will be exhausted within c8 years at which point activity will have to be reduced. Ideally, the RAFGA wants to consider investing some (~£50k) of these reserves in 2022 to ensure it grows, at least in line with inflation. However, the significant reduction in the Central Fund Grant and requirement to heavily lean on the reserves in the short term may prevent such a strategy.
Whilst the EoY balance is c£100k, c£70k of reserves has been identified as being required to fund activity for the next 5 years following a reduction in RAF Central Fund Grants and increase in hire charges. Therefore, if income and expenditure remain the same for the next c8 years the association will no longer have reserves and will then have to significantly cut activity or raise personal contributions to a level that will affect participation.
## **SOURCES OF FUNDS**
Membership subscriptions. RAF Central Fund Grants. Sponsorship. Entry fees levied against participants
## **RISKS**
Loss of income from sponsorship, RAF Central Fund and membership fees as well as an increase in hire charges of golfing facilities.
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## **ROYAL AIR FORCE GOLF ASSOCIATION**
## **TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **ORGANISATIONAL STRUCTURE**
The RAF Golf Association Membership Scheme falls under the governance and financial control of the RAFGA. The RAFGAMS provides 3[rd] party insurance for its members and coaching subsidies as detailed above.
## **RELATIONSHIPS WITH RELATED PARTIES**
The Directorate of RAF Sport for the policy of conducting golf in the RAF. The UK Armed Forces Golf Association for participation in the UK Armed Forces Inter Services.
The RAF Sports Federation as the administers of the RAFGA current account and available for Charity SME advice. The Royal & Ancient Golf Club Ltd as the governing body for the Rules of Golf. England Golf as the NGB for golf in England.
## **GOING CONCERN**
The RAF Golf Association depends on continued support from the RAF Central Fund, sponsorship income and retention/growth of current membership. The Trustees are confident that the CIO is a going concern.
## **TRUSTEES RESPONSIBILITIES**
The Charities Act 2011 require the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the CIO and of the surplus of the CIO for that period. In preparing those financial statements the trustees are required to:
- Select suitable accounting policies and apply them consistently.
- Make judgements and estimates that are reasonable and prudent.
- Prepare financial statements on the going concern basis unless it is inappropriate to presume that the CIO will continue in existence.
The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the CIO. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the Trustees
, Trustee.
Print name: Paul Mardon
Date: 17 Aug 2023
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## **INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS**
Report to the trustees/members of the Royal Air Force Golf Association on the accounts for the year ended 31st December 2021 set out on pages 8 to 14.
## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this period under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
## **BASIS OF INDEPENDENT EXAMINER'S STATEMENT**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **INDEPENDENT EXAMINER'S STATEMENT**
In connection with my examination, no matter has come to my attention
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
J Irvine-Smith FCIE Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
Dated: 22nd August 2023
## **ROYAL AIR FORCE GOLF ASSOCIATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021**
|**INCOME**
**Notes**
Donations and Legacies
**2(a)**
Income from Charitable
**2(b)**
Activities
**TOTAL INCOME**
**EXPENSES**
Expenditure on Charitable
**3(a)**
Activities
**TOTAL EXPENDITURE**
**NET INCOME/(EXPENDITURE)**
Total Funds Brought Forward
Transfer of funds from Excepted
**15**
Charity
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Funds
£
Designated
Funds
£
Restricted
Funds
£
**TOTAL**
**TOTAL**
**2021**
**2020**
**£**
**£**
8,892
-
-
8,892
-
31,089
-
-
31,089
-|
|---|---|
||**39,981**
**-**
**-**
**39,981**
**-**|
||47,750
-
43,919
91,669
-|
||**47,750**
**-**
**43,919**
**91,669**
**-**|
||**(7,769)**
**-**
**(43,919) (51,688)**
**-**
-
-
-
-
-
83,927
24,111
43,919
151,957
-|
||**76,158**
**24,111**
**-**
**100,269**
**-**|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 10 to 14 form part of these financial statements.
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## **ROYAL AIR FORCE GOLF ASSOCIATION**
## **BALANCE SHEET AS AT 31ST DECEMBER 2021**
|**Fixed Assets**
Tangible assets
**Current Assets**
**Notes**
Debtors
**6**
Investments
Cash at bank and in hand
**7**
**Total Current Assets**
**Creditors:**amounts falling due within one year
**8**
**NET CURRENT ASSETS**
**TOTAL ASSETS**less current liabilities
**Creditors:**amounts falling due in more
than one year
**NET ASSETS**
**Funds of the Charity**
Unrestricted Funds
Designated Funds
Restricted Funds
**Total Funds**|Unrestricted
Funds
£
-
Restricted
Funds
£
-
**31-Dec-21**
**31-Dec-20**
**Total**
**Total**
**£**
**£**
-
-
1,492
-
1,492
-
-
-
-
-
99,077
1,386 100,463
-|
|---|---|
||**100,569**
**1,386 101,955**
**-**|
||300
1,386 1,686
-
100,269
-
100,269
-|
||**100,269**
**-**
**100,269**
**-**
-
-
-
-|
||**100,269**
**-**
**100,269**
**-**|
||76,158
-
76,158
-
24,111
-
24,111
-
-
-
-
-|
||**100,269**
**-**
**100,269**
**-**|
Approved by the Trustees on 17 AUG 2023, and
Signed on their behalf by , Trustee Print name: Paul Mardon
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## **ROYAL AIR FORCE GOLF ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **Basis of preparation**
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The CIO constitutes a public benefit entity as defined by FRS 102.
The Trustees confirm, in accordance with the Charitable Incorporated Organisations (General) Regulations 2012, that at the year end the CIO did not have any outstanding guarantees to third parties nor any debts secured on assets of the CIO.
## **Changes to accounting estimates**
No changes to accounting estimates have occurred in the reporting period
## **Material prior period errors**
No material prior year error have been identified in the reporting period
## **1. ACCOUNTING POLICIES**
## **Income**
## **Recognition of Income**
These are included in the Statement of Financial Activities (SOFA) when:
- the CIO becomes entitled to the income;
- it is more likely than not that the trustees will receive the resources; and
- the monetary value can be measured with sufficient reliability.
## **Offsetting**
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
## **Grants and Donations**
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).
## **Contractual Income and Performance Related Grants**
This is only included in the SoFA once the CIO has provided the related goods or services or met the performance related conditions.
## **Gifts in Kind**
Gifts in kind for use by the CIO are included in the SoFA as income from donations when receivable.
## **Volunteer Help**
The value of any voluntary help received is not included in the accounts but is described in the Trustees' annual report.
## **Income from interest, royalties and dividends**
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
## **Investment Gains and Losses**
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
## **Insurance claims**
Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP) and are included as an item of other income in the SoFA.
## **Income from membership subscriptions**
Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.
## **Debtors**
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the CIO. Subsequently, they are measured at the cash or other consideration expected to be received.
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## **ROYAL AIR FORCE GOLF ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **1. ACCOUNTING POLICIES (continued)**
## **EXPENDITURE AND LIABILITIES**
## **Liability Recognition**
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the CIO to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## **Grants with Performance Conditions**
Where the CIO gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
## **Grants Payable without Performance Conditions**
Where there are no conditions attaching to the grant that enables the donor CIO to realistically avoid the commitment, a liability for the full funding obligation must be recognised.
## **Deferred income**
No material item of deferred income has been included in the accounts.
## **Provisions for liabilities**
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date
## **Fixed Assets**
These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt. The CIO currently has no tangible fixed assets.
|**2. ANALYSIS OF INCOME**
**a)**
**Donations and Legacies**
RAF Sports Federation
Sponsorship
**b)**
**Charitable Activities**
Membership Fees
Personal Contributions
**3. ANALYSIS OF EXPENDITURE**
**a) Charitable Activities**
Kit & Equipment
Op Costs: Independent Examination
Op Costs: Other
Go Cardless Fees
Grants to Individuals
Champs/Inter Service Costs|Unrestricted
Designated
Restricted
Funds
Funds
Funds
£
£
£
**TOTAL**
**2021**
**£**
**TOTAL**
**2020**
**£**
3,500
-
-
3,500
-
5,392
-
-
5,392
-|
|---|---|
||**8,892**
**-**
**-**
**8,892**
**-**|
||30,691
-
-
30,691
-
398
-
-
398
-|
||**31,089**
**-**
**-**
**31,089**
**-**|
||Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2021**
**2020**
£
£
£
**£**
**£**
2,190
-
1,384
3,574
-
-
-
696
696
-
31,797
-
22,572
54,369
-
873
-
-
873
-
562
-
-
562
-
12,328
-
19,267
31,595
-|
||**47,750**
**-**
**43,919**
**91,669**
**-**|
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## **ROYAL AIR FORCE GOLF ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **4. RESTRICTED FUNDS**
## CURRENT YEAR
|RAF CF Grant
RAF CF Grant|Balance
01-Jan-21
**£**
-|Fund
Transfer from**Balance**
Transfers
Income
Expenditure Excepted ***31-Dec-21**
**£**
**£**
**£**
**£**
**£**
-
-
43,919
43,919
-|
|---|---|---|
||**-**|**-**
**-**
**43,919**
**43,919**
**-**|
|||PRIOR YEAR
Balance
Fund
**Balance**
01-Jan-20
Transfers
Income
Expenditure**31-Dec-20**
**£**
**£**
**£**
**£**
**£**
-
-
-
-
-|
|||~~**-**~~
~~**-**~~
~~**-**~~
~~**-**~~
~~**-**~~|
Central Fund Grant - to be used for operating costs, kit and equipment, overseas visits and development activities. * Transfer from Excepted Charity (Note 15)
## **5. DESIGNATED FUNDS**
|**5. DESIGNATED FUNDS**|||||||||
|---|---|---|---|---|---|---|---|---|
|||||||CURRENT YEAR|||
||Balance||||||Transfer from**Balance**||
||01-Jan-21||Transfers||Income Expenditure Excepted**31-Dec-21**||||
||**£**||**£**||**£**|**£**|**£**|**£**|
|Sponsorship||-||-|-|-|24,111|24,111|
|||~~**-**~~||~~-~~|~~**-**~~|~~**-**~~|~~**24,111**~~|~~**24,111**~~|
|||||||PRIOR YEAR|||
||||Balance|||||**Balance**|
||||01-Jan-20||
Transfers|
Income|Expenditure|**31-Dec-20**|
||||**£**||**£**|**£**|**£**|**£**|
|Sponsorship||||-|-|-|-|-|
|||||~~**-**~~|~~-~~|~~**-**~~|~~**-**~~|~~**-**~~|
|* Transfer from Excepted Charity (Note 15)|||||||||
## **6. DEBTORS AND PREPAYMENTS**
|Debtors
**7. CASH AT BANK AND IN HAND**
Current Account|Unrestricted Restricted**Total**
**Total**
Fund
Fund
**31-Dec-21 31-Dec-20**
**£**
**£**
**£**
**£**
1,492
-
1,492
-
|Unrestricted Restricted**Total**
**Total**
Fund
Fund
**31-Dec-21 31-Dec-20**
**£**
**£**
**£**
**£**
1,492
-
1,492
-
|
|---|---|---|
||~~**1,492**~~
~~**-**~~
~~**1,492**~~
~~**-**~~
Unrestricted Restricted**Total**
**Total**
Fund
Fund
**31-Dec-21 31-Dec-20**
**£**
**£**
**£**
**£**
99,077
1,386 100,463
-
||
|||~~**99,077 1,386 100,463**~~
~~**-**~~|
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## **ROYAL AIR FORCE GOLF ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **8. CREDITORS ACCRUALS AND DEFERRED INCOME: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Creditors
Accrual - Travel Expenses
Accrual - Independent Examination (P/e 7 May 2021)
Accrual - Independent Examination (Y/e 31 December 2021)
**8(a). DEFERRED INCOME**
Deferred income brought forward 01/01/21
Transferred from Excepted Charity *
Utilised in the year
Receipts for 2021
Deferred income as at 31/12/21|Unrestricted
Fund
**£**
100
200
-
-
|Unrestricted
Fund
**£**
100
200
-
-
|Restricted**Total**
**Total**
Fund
**31-Dec-21 31-Dec-20**
**£**
**£**
**£**
-
100
-
-
200
-
690
690
-
696
696
-
|
|---|---|---|---|
|||~~**300**~~|~~**1,386**~~
~~**1,686**~~
~~**-**~~
Overseas
Visit
**Total**
-
-
7
7
(7)
(7)
-
-
**-**
**-**|
|||||
|||||
- Transfer from Excepted Charity (Note 15)
## **9. CREDITORS ACCRUALS AND DEFERRED INCOME: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
There are no Creditors Accruals and Deferred Income falling due in more than one year held by the Royal Air Force Golf Association (2020: £Nil).
## **0. STAFF COSTS AND NUMBERS**
There are no staff paid by the Royal Air Force Golf Association (2020: £Nil).
## **1. TRUSTEES AND OTHER RELATED PARTIES**
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the CIO and a trustee or any person connected with them.
## **2. RISK ASSESSMENT**
The trustees actively review the major risks which the CIO faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **3. RESERVES POLICY**
The Reserves Policy is described in the Trustees' Report.
## **4. PUBLIC BENEFIT**
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees Report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
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## **ROYAL AIR FORCE GOLF ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **15. TRANSFER OF FUNDS TO CHARITABLE INCORPORATED ORGANISATION**
The Association discussed and agreed the formation of a Charitable Incorporated Organisation and the CIO was duly registered on 15 April 2019 (no. 1182978). The Trustees agreed at their meeting to transfer all the assets and liabilities of the Excepted Charity to the CIO on 7 May 2021.
The assets and liabilities transferred were as follows:
|**Fixed Assets**
Tangible assets
**Current Assets**
Stock
Debtors
Cash at bank and in hand
**Total Current Assets**
**Creditors: amounts falling due within one year**
**NET CURRENT ASSETS**
**TOTAL ASSETS less current liabilities**
**Creditors: amounts falling due in more than one year**
**NET ASSETS**
**FUNDS OF THE CHARITY**
Unrestricted Funds
Designated Funds
Restricted Funds
**TOTAL FUNDS**|Unrestricted
Funds
£
-
-
Restricted
Funds
£
-
-
**07-May-21**
**Total**
**Funds**
**£**
-
-
23,794
-
23,794
84,301
44,609
128,910|
|---|---|
||**108,095**
**44,609**
**152,704**|
||57
690
747
108,038
43,919
151,957|
||**108,038**
**43,919**
**151,957**
-
-
-|
||**108,038**
**43,919**
**151,957**|
||83,927
83,927
24,111
24,111
43,919
43,919|
||**108,038**
**43,919**
**151,957**|
```
14
```