**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:
- a. Select suitable accounting policies and apply them consistently.
- b. Make judgements and estimates that are reasonable and prudent.
- c. State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.
- d. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Charity will continue in operation
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:
- a. examine the accounts (under section 145 of the 2011 Act);
- b. to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145 (5) (b)) of the 2011 Act;
- c. to state whether particular matters have come to our attention.
## 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:
- a. which gives me reasonable cause to believe that in any material respect the requirements:
- 1) to keep accounting records in accordance with section 130 of the
- 2011 Act;
- 2) to prepare accounts which accord with the accounting records and to comply with the accounting requirement of the 2011 Act.
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:
- Leasehold properties over period of lease Fixtures and fittings - 20%
## _**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