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2020-10-31-accounts

Charity Number: 211885

SURREY RIFLE ASSOCIATION

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

Chairman

Legal Trustees

General Purpose Committee

Treasurer

Secretary

Independent Examiner

Bankers

D Crispin JE Bellringer P Chance D Crispin D Andrews H Awin D Crispin J Curd C Evans I Shaw J Tapster J Underwood C Watson S Young T. Drysdale J Tapster

KW Steward Ltd Lloyds TSB Bank plc 32 Commercial Way Woking Surrey GU21 1ER

Page
Chairman’s & Treasurer’s Report 1
Trustees’ Report 2 to 3
Independent Examiner’s Report 4
Income and Expenditure Account 5
Balance Sheet 6
Notes to the Accounts 7 to 10
Management Income and Expenditure Account 11

The surplus for the current year will boost the charity’s general reserve and members are aware that some of these reserves will be applied towards maintenance of the clubhouse and improvements to the clubhouse and flat accommodation. The surplus is down on the prior year driven by the impact of COVID19 and the restrictions placed on hospitality settings.

Revenue from subscriptions and locker rental have increased in comparison to prior year due to a combination of additional members joining in the current year, which is encouraging for the association, and a drive by committee members to collect money owed to support the association during the challenging times.

The bar failed to generate a surplus for the first time in a number of years, but this was primarily driven by decreased footfall due to the pandemic as well as increased number of staff required to operate safely and within the governments restrictions. The committee believe this to be a small blip and likely to revert to a surplus in future years.

The association’s cost-base has remained largely similar to prior years’, with the main expenses being rent and rates, establishment costs, insurance, repairs & maintenance, wages for catering and bar staff, and depreciation.

Within the Balance Sheet the stock levels held within the bar, kitchen and armoury are lower than in prior year mainly due to the depletion of kitchen stocks towards the end of the season as to be expected, but inventories remain at reasonable levels to ensure the continuing operation of services.

The value of debtors at year end has remained similar to prior year, but significant amounts of time and effort are expended in following these up throughout the year. In addition to the early payment incentives already in place, the committee are also considering penalties which may need to be introduced to encourage members to pay their dues in a timely manner.

Amounts outstanding within creditors at year end relate primarily to VAT liability for the third quarter, and amounts owing to the NRA and suppliers of services. These have been settled subsequent to year end.

The cash balance within the bank has remained stable despite the challenging environment. Planned projects for clubhouse maintenance and improvements were put on hold during 2020 and are likely to commence in 2022.

David Crispin – Chairman Tom Drysdale – Treasurer Dated: Dated:

SURREY RIFLE ASSOCIATION

TRUSTEE’S REPORT FOR THE YEAR ENDED 31 OCTOBER 2020

REVIEW OF THE SURREY RIFLE ASSOCIATION

The Trustees present their report and the financial statements of the charitable association, The Surrey Rifle Association. The names of the Trustees are shown on the contents page. All held office throughout the year.

CONSTITUTION AND OBJECTS

The Surrey Rifle Association is a registered charity whose objects are to advance the skill of marksmanship for its members.

REVIEW OF THE PERIOD AND FUTURE DEVELOPMENTS

During the period the Charity continued to provide facilities to its members in accordance with its charitable objectives.

RESERVES

The Trustees have reviewed the reserves of the Charity. This review encompassed the nature of the income and expenditure streams, the need to match variable income with fixed commitments and the nature of the reserves.

The review concluded that to allow the charity to be managed efficiently and to provide a buffer against interrupting ongoing commitments as well as ad hoc projects, a general reserve needs to be maintained. As at 31 October 2020 this reserve was a surplus of £124,441. This reserve will be used to cover specific capital improvement projects planned for 2020, as well as to cover unforeseen future maintenance and other commitments. This reserve has increased from last year as a result of an operating surplus generated from the club’s activities.

RISK MANAGEMENT

The Trustees have considered the risks facing the charity and have taken steps to mitigate them.

STATEMENT OF TRUSTEES RESPONSIBILITIES

Law applicable to charities in England and Wales requires the Trustees of the Charity, to prepare financial statements for each financial period, which give a true and fair view of the Charity’s financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:

Page 2

TRUSTEE’S REPORT FOR THE YEAR ENDED 31 OCTOBER 2020

SURREY RIFLE ASSOCIATION

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to ascertain the financial position of the Charity and ensure that the financial statements comply with the Charities Act 2011. They are also responsible for the safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the committee on 25 07 2021 and signed on its behalf by:

David Crispin Chairman and Trustee

Page 2

SURREY RIFLE ASSOCIATION

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 OCTOBER 2020

I report on the accounts of the Surrey Rifle Association for the twelve months ended 31 October 2020, which are set out on pages 5 to 10.

Respective responsibilities of trustees and examiner

As the charity's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 144 of the Charities Act 2011 (the 2011 Act) does not apply, and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 you as 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 financial statements 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 our attention:

have not been met; or

b. to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

KW Steward Ltd

Page 4

SURREY RIFLE ASSOCIATION

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 OCTOBER 2020

Dated:
Notes
Income
Administrative expenses
Surplus for the Period
Retained Result for the Period		 2020
£
48,7
12
(45,52
4)
3,188
3,188		 2019
£
57,155
(42,604
)
14,551
14,551

Page 4

SURREY RIFLE ASSOCIATION

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 OCTOBER 2020

Note
s
Fixed Assets
Tangible Assets
2
Current Assets
Stock
Debtors and prepayments
3
Cash at bank and in hand
4
Creditors: Amounts Falling due
within one year
Creditors and accruals
5
Net Current Assets
Total Assets Less Current Liabilities
Long Term Liabilities
6
Capital and Reserves
General Reserve b/f
Income and Expenditure Account
General Reserve c/f		 2020
£
£
60,995
10,823
8,566
63,552
82,941
(13,867
)
69,074
130,06
9
(5,628)
124,44
1
121,25
3
3,188
124,44
1		 2019 2019
£ £ £
57,700
10,823 17,935
8,566 6,881
63,552 69,016
82,941 93,832
(13,867
)		 (24,651
)
69,181
126,881
(5,628)
121,253
121,25
3		 106,702
3,188 14,551
121,253

These accounts were approved by the Committee on DD Month YYYY and signed on its behalf by:

David Crispin (Chairman) Tom Drysdale
(Treasurer)

Page 4

SURREY RIFLE ASSOCIATION

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 OCTOBER 2020

Page 4

SURREY RIFLE ASSOCIATION

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2020

1. Accounting Policies

Basis of Accounting

The Financial Statements have been prepared in accordance with applicable Accounting Standards under the historical cost convention.

Depreciation

Depreciation is calculated to write down the cost or valuation less estimated residual value of all tangible fixed assets by the reducing balance method over their expected useful lives. The rates and periods generally applicable are:

Stocks

Stocks are stated at the lower of cost and net realisable value.

Leased Assets

Assets held under finance leases and hire purchase contracts are capitalised in the Balance Sheet and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the Income and Expenditure Account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the Income and Expenditure Account on a straight line basis over the lease term.

Page 7

SURREY RIFLE ASSOCIATION

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2020

2. Tangible Fixed Assets

Short
Leasehold
Land and
Buildings
Cost
£
At 31 October 2019
160,711
Additions
Disposals
4,571
0
At 31 October 2020
165,282
Depreciation
At 31 October 2019
116,779
Charge for the year
Disposals
4,041
0
At 31 October 2020
120,820
Net Book Value at 31 October 2020
44,462
Net Book Value at 31 October 2019
43,932
3.
Debtors
Debtors
Prepayments and accrued income
4.
Cash at bank and in hand
Current account
Trustee investment account
Cash foats & cash equivalents
5.
Creditors: Amounts Falling Due Within One Year
Taxes and social security
Other Creditors		 Fixtures,
Fittings
and
Motor
Vehicles
Total
£
£
162,196
322,907
9,275
0
13,846
0
171,471
336,753
148,428
265,207
6,510
0
10,551
0
154,938
275,758
16,533
60,995
13,768
57,700
2020
£
2019
£
5,125
4,734
3,441
2,147
8,566
6,881
2020
£
2019
£
44,861
50,930
12,504
9,512
6,187
8,574
63,552
69,016
2020
£
2019
£
3,259
3,411
10,608
19,170		 Total Total
£
322,907
13,846
0
336,753
265,207
10,551
0
275,758
60,995
57,700
2019
£
4,734
2,147
6,881
2019
£
50,930
9,512
8,574
69,016
2019
£
3,411
19,170

Page 11

SURREY RIFLE ASSOCIATION

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2020

Deferred Income – reloading
-
13,867
6.
Creditors: Amounts Falling Due After More Than One Year
2020
£
Loans from members
5,628
5,628
7.
Related Party Transactions
No committee member receives any form of payment in return for
performing their duties as a member of the committee, however
some committee members do invoice the Association for hours
worked on certain tasks such as running the bar and repairs and
maintenance projects. Rates charged by the committee members
concerned have always been favourable compared with standard
third party rates. In the opinion of the remainder of the committee
(i.e. those not claiming for hours worked), it has always been less
expensive, and therefore in the interests of the Association, to utilise
the services of these committee members than to engage outside
contractors.		 2,070
24,651
2019
£
5,628
5,628

Amounts claimed for labour by committee members and their immediate family during the year was as follows:

2020 2019
£ £
Bar
3,889		 9,665
0 4,950
Maintenance and upgrade projects
3,889 14,615
8. Employees
2020
2019
The average number of employees during the years was 3
3
Temporary Part Time staf were employed in the Bar and Catering Departments during
busy periods.
Total Employment costs 2020
2019

Page 11

SURREY RIFLE ASSOCIATION

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2020

S TO THE ACCOUNTS
HE YEAR ENDED 31 OCTOBER 2020
Wages & Salaries
46,269
Less Furlough Received
0
Social Security Costs
Other Pension Costs
539
46,808		 £
£
46,170
-4,544
653
0
1,169
43,448

9. Other Expenses

Independent examiner’s fee
Cost of NVQ training for Staf
Accommodation for stewards prior to completion of
Refurbishment
Till diferences, gifts & sundry expenses		 2020
£
250
1,327
0
573
2,150		 2019
£
250
0
1,326
125
1,701

Page 11

SURREY RIFLE ASSOCIATION

MANAGEMENT INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2020

INCOME
Subscriptions
Locker rents
Donations and grants
Sundry receipts
Bar income
Bar cost of sales and running costs
Bar surplus / (defcit)
Catering income
Catering cost of sales and running costs
Catering surplus / (defcit)
Shooting income
Shooting costs
Shooting surplus / (defcit)
LESS: EXPENSES
Administrative expenses
EXCESS OF INCOME OVER EXPENDITURE
FOR THE YEAR		 2020
£
£
27,078
17,002
100
13,971
22,408
(28,312
)
(5,904)
54,346
(59,203
)
(4,857)
3,213
(1,891)
1,322
48,712
(45,524
)
3,188		 2019 2019
£ £ £
26,302
16,230
250
1,969
22,408 58,561
(28,312
)		 (41,825)
16,736
54,346 59,159
(59,203
)		 (65,079)
(5,920)
3,213 28,2
73
(1,891) (26,685)
1588
57,155
(45,524
)		 (42,604)
14,551
ANALYSIS OF EXPENSES
ADMINISTRATIVE EXPENSES
Wages and salaries
Rent and rates
Establishment costs (utilities)
Telephone
Printing, postage, stationery, computer exps &
hire charges
Advertising
Insurance
Legal fees
Repairs, renewals and equipment hire
Finance and Bank charges and interest
Subscriptions
Motor Expenses
Depreciation
Bad debts written of
2019
£
£
2,160
10,066
7,183
676
442
550
2,804
0
5,053
1,818
388
0
9,162
601

Page 12

SURREY RIFLE ASSOCIATION

SURREY RIFLE ASSOCIATION
MANAGEMENT INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2020
Other
expenses
Note 9
2,150		 1,701
45,524
42,604

Page 12