THE SOUTHERN COUNTIES ARCHERY SOCIETY CHARITABLE INCORPORATION ORGANISATION (CIO)
FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022
CHARITY NUMBER 1195164
| CONTENTS | |
|---|---|
| Pages | |
| Trustees’ Report | 1-4 |
| Independent Examiner’s Report | 5 |
| Receipts and Payments Account | 6 & 7 |
| Notes to the Financial Statements | 8 |
SOUTHERN COUNTIES ARCHERY SOCIETY CHARITABLE INCORPORATED ORGANISATION (CIO)
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2022
Objectives and Activities
The advancement of the amateur sport of archery in the southern regions of England for the public benefit by the provision of, or assistance in the provision of, facilities for participation in the sport of archery, including by, but without limitation:
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Encouraging and assisting with the formation and maintenance of county associations and amateur archery clubs within the region, and
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Encouraging and promoting coaching, judging and other development activities and events in the Region, including the development of training, coaching and judging methodologies and to conduct, support and participate in educational, training and competitive events aimed at developing and improving the archery performance and standards of its members and others.
The trustees have had regard to the guidance issued by the Charity Commission on public benefit.
Achievements and Performance
The Society organises competitions and supports clubs in the region organising their own competitions and activities.
The Society arranges coaching events for the development of clubs and coaches in the region.
Due to the impact of Covid-19 in England throughout the period there were no events in the period covered by this report.
The Society is able to disburse funds as either a grant or loan to a club or individual, subject to procedures detailed in the constitution. There were grants made to individual archers in the year which amounted to £5,862. (2021 - £3,279)
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SOUTHERN COUNTIES ARCHERY SOCIETY CHARITABLE INCORPORATED ORGANISATION (CIO)
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2022
Financial Review
The Society is funded by subscriptions from the member clubs in the region. There is also investment income from shares held and bank deposits. This income is spent to further the objectives of the Society.
In addition to the money held in UK banks are funds held and managed in a Funds Network portfolio. Income received is re-invested, after the deduction of fees.
There were funds transferred into the Society being the value of bank balances, investments and net assets on incorporation. Full details are reported in the receipts and payment accounts that follow this report.
There were receipts in the year of £22,687 (2021 - £12,094) and after payments of £39,089 (2021 - £10,630) there was a deficit of £16,402 (2021 – surplus £1,464). There were loans repaid to the Society in the year of £500 (2021 - £500). There were loans issued of £9,000 (2021 - £nil). The Society had cash reserves at the 31 December 2022 of £61,867.
In accordance with the objectives of the Society there have been loans to member clubs and the value owed to the Society at 31 December 2022 were £19,366 (2021 - £10,866).
In addition to this there were investments held by the Society with historic cost of £83,060 (2021 - £81,818). These had a value at 31 December 2022 of £199,965 (2021 - £170,264).
Reserves Policy
The Society maintains a reserve so that it could respond to unforeseen needs of the member clubs and individuals.
They are also long-term plans for the establishment of a central archery centre for the region, but no suitable location has yet been identified for this by the Society.
The Trustees consider that the present situation with their investments and bank balances is sound. They will continue to review the situation regularly, and will adjust it as necessary, to ensure the future viability of the Society.
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SOUTHERN COUNTIES ARCHERY SOCIETY CHARITABLE INCORPORATED ORGANISATION (CIO)
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2022
Structure, Governance and Management
The charity is a Charitable Incorporated Organisation, registered on 14 July 2021.
The Society is a regional society of the Grand National Archery Society (GNAS).
The Society has a constitution and rules by which it is governed, the most recent being those established on incorporation.
Appointment and Re-appointment of Trustees
The constitution documents that there should be at least six Trustees of the Society, but there is not a maximum number. Trustees should be over 16 years old, but there must be at least one Trustee over 18 years old on the board of Trustees.
At each Annual General Meeting of the members of the CIO one third of the Trustees are required to retire from office. The Trustees retire by rotation by reference those who have been longest in office. Where the date of appointment is the same then the Trustees to retire are determined by lot, unless there is some other mutual agreement between the Trustees.
Trustees required to retire by rotation are eligible for re-appointment at the same meeting. Trustees must expressly acknowledge their acceptance into the position prior to appointment.
Trustee knowledge is kept up to date by attendance at meetings, attending any training courses and undertaking any technical reading in respect of any legislation changes.
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SOUTHERN COUNTIES ARCHERY SOCIETY CHARITABLE INCORPORATED ORGANISATION (CIO)
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2022
Reference and Administrative details
Charity name
Southern Counties Archery Society
Registered charity number
Registered charity number 1195164 Charity’s principal address 200 Upper Road Kennington Oxford OX1 5LR
Trustees: Mr R J Beaney Dr S L R Ellison Mr C Fletcher-Campbell Mrs K A Lipscomb Mr D J Lovell MBE Mr A B Purser Mr P R Watson Mr B Beaney
Accountant: Vineyard Accountants Ltd Bankers: Co-Operative Bank Triodos Bank National Westminster plc Investment Managers: Funds Network
There were no funds held as a custodian Trustees on behalf of others.
Declaration
The trustees declare that they have approved the Trustees’ report above.
Signed on behalf of the board of Trustees
Mr C Fletcher-Campbell
Date: 15 April 2023
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THE SOUTHERN COUNTIES ARCHERY SOCIETY
REPORT OF THE INDEPENDENT EXAMINER
YEAR ENDED 31 DECEMBER 2022
I report to the trustees on my examination of the accounts of the above charity for the year ended 31 December 2022 set out on pages 6 to 8.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
A N Poyton FCCA Vineyard Accountants Ltd Chartered Certified Accountants Abingdon-on-Thames
9 May 2023
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SOUTHERN COUNTIES ARCHERY SOCIETY CHARITABLE INCORPORATED ORGANISATION (CIO)
RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 DECEMBER 2022
Section A: Receipts and payments
| Receipts SCAS subscriptions Tournament income Dividend income Bank interest received Sub total Transfer of bank balances from non CIO entity at 14 July 2021 Investment sales and loan repayments Total receipts Payments FITA and record status payments Tournament expenditure Judges training costs and uniform English Archery Federation grant Archery GB grant Grants to archers Travel expenses Development officer costs Council meetings Website costs Accounts and examination -charity Accounts and examination -CIO Duplication of payment for accounts and examination -CIO Sub total Investment purchases and loans issued / written off Total payments Net of receipts/(payments) Transfers between funds Cash funds last year end **Cash funds this year end ** |
Unrestricted funds £ 17,818 - 4,794 76 22,687 - 500 23,187 240 12,738 1,218 - 2,558 5,862 250 11,000 1,856 330 912 1,062 1,062 39,089 9,000 48,089 (24,902) - 86,821 61,919 |
Restricted funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
Endowment funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
2022 £ 17,818 - 4,794 76 22,687 - 500 23,187 240 12,738 1,218 - 2,558 5,862 250 11,000 1,856 330 912 1,062 1,062 39,089 9,000 48,089 (24,902) - 86,821 61,919 |
2021 £ 9,008 1,000 2,074 12 |
|---|---|---|---|---|---|
| 12,094 84,857 500 |
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| 97,451 100 1,364 793 4,992 - 3,279 - - - 102 - - - |
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| 10,630 - |
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| 10,630 86,821 - - |
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| 86,821 |
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SOUTHERN COUNTIES ARCHERY SOCIETY CHARITABLE INCORPORATED ORGANISATION (CIO)
RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 DECEMBER 2022
Section B: Statement of assets and liabilities at the end of the period
| Categories Cash funds Community account Capital Reserve account Coaching account Judges account Total bank and cash funds Other monetary assets Loans to clubs (note 3) Investment assets (note 2) Fidelity & Network - Portfolio BP PLC -25,740 Ordinary shares Assets retained for the charity’s own use Liabilities Accountancy Independent Examination Less: payment made already Signed on behalf of the Board of Trustees Details |
Unrestricted funds £ 5,530 51,703 2,507 2,179 61,919 Unrestricted funds £ 19,366 - - Fund to which asset belongs Unrestricted Unrestricted Fund to which asset belongs Fund to which liability Unrestricted Unrestricted |
Restricted funds £ - - - - - Restricted funds £ - - - Cost (optional) £ 79,543 3,517 - - Cost (optional) £ - - Amount due (optional) £ 780 330 (1,062) |
Endowment funds £ - - - - |
|---|---|---|---|
| - | |||
| Endowment funds £ - - - Current value (optional) £ 77,726 122,239 - - Current value (optional) £ - - When due (optional) £ |
Date: 15 April 2023
C FLETCHER-CAMPBELL
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SOUTHERN COUNTIES ARCHERY SOCIETY CHARITABLE INCORPORATED ORGANISATION (CIO)
NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2022
NOTE 1 ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the receipts and payments basis.
Income
All income is included in the Income and Expenditure Account when is is received by the Society.
Resources expended
All expenditure is accounted for on a payments basis and has been classified under headings that aggregate all costs related to that category.
NOTE 2 INVESTMENTS
The Society's investments recorded at cost in the Accounts. The investments are listed on the stock exchange and their market value at the end of the year was as follows:
| BP PLC -25,740 Ordinary $0.25 Shares Cost Market value Funds Network investment portfolio Cost Market value |
2022 2021 £ £ 3,517 3,517 122,239 65,586 79,543 77,143 77,726 79,379 |
|---|---|
The Funds Network portfolio is actively managed and the brokers provide the valuation each year.
Dividends received on the investment are automatically re-invested in the fund, after the deduction of management fees relating to the portfolio.
NOTE 3 LOANS
Loans were made to various clubs throughout the period. The balances outstanding at the period end date were:
| Year of issue 2016 Windsor Forest Bowmen 2018 Talisman Bowmen 2020 Rayleigh Town Archery Club 2020 Marshland Archers 2020 Mayflower 2022 Clophill 2022 Surrey Club details |
2022 2021 £ £ 3,000 166 4,000 1,200 2,000 8,000 1,000 19,366 - |
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