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2022-10-31-accounts

Charity Number: 211885

SURREY RIFLE ASSOCIATION

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

SURREY RIFLE ASSOCIATION

CLUB INFORMATION

Chairman D Crispin
Legal Trustees JE Bellringer
P Chance
D Crispin
General Purpose Committee
H Awin (resigned 17.1.23)
D Crispin
J Curd (resigned 1.5.22)
D Curtis
C Evans (resigned 17.1.23)
I Shaw
J Tapster
J Underwood
C Watson (resigned 23.4.23)
S Young
Treasurer T. Drysdale
Secretary J Tapster
Independent Examiner KW Steward Ltd
Bankers Lloyds TSB Bank plc
32 Commercial Way
Woking
Surrey
GU21 1ER

SURREY RIFLE ASSOCIATION

CLUB INFORMATION

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

SURREY RIFLE ASSOCIATION

CHAIRMAN’S & TREASURER’S REPORT FOR THE YEAR ENDED 31 OCTOBER 2022

The small loss for the current year reduced the charity’s general reserve . Members are aware that some of these reserves will be applied towards maintenance of the clubhouse and improvements to the clubhouse and flat accommodation, and this year a lot of repairs were required on the kitchen equipment.

Revenue from subscriptions increased by 20% 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 small increase in subscription rates. Locker rental is similar to the previous year.

The bar continued to generate a surplus and this was partly due to increased footfall and partly due to the popularity of our catering services. Some of the increased profit on the bar is due to lower bar staff costs, as Ian Shaw coped alone at the bar on many occasions. The catering again proved very popular, both during Shooting Meetings and also for Team and formal private dinners. A lot of the catering during 2021 was at 5% VAT, which resulted in the net figures in the accounts being at 95% of takings, whereas the current year figures were mostly at 20% VAT (nett figures in accounts being at 80% of takings), which shows that actual catering increased by about 75% on last year. The GPC decided to increase the salaries of Ewelina & Piotr to reward them for their hard work and to encourage them to stay. The increased popularity of the food also required additional staffing, which together with increased food costs has resulted in the loss on catering. Shooting activities made a surplus this year, partly due to the stock of ammo held at the SRA (with ammo costs increasing rapidly) and partly due to the ammo for the meeting being reloaded in house.

The association’s cost-base has changed slightly to prior years’. The Book-keepers wage was brought up to minimum wage on actual hours worked, rather than a set amount. Establishment costs (utilities) rose greatly, partly due to the gas and electricity increase and partly due to the change of apportionment of service costs by the NRA. Repairs and renewals were higher in this current year, mainly due to approx £3,000 being spent on repairs to kitchen equipment and plumbing. Regular annual servicing and warranty costs for boiler, fire alarm, and security costs amount to about £2000.

The committee decided to increase subscriptions slightly for 2022, but not increase locker rent. In 2023, due to the rapid increase in heating and lighting costs and the war in Ukraine, the committee deemed it necessary to increase both subscriptions (all categories) and locker rent. It was decided that if electricity costs settled at a lower rate, subscriptions in 2024 would reflect the change.

Within the Balance Sheet the stock levels held within the bar, kitchen and armoury are higher than in the prior year and inventories remain at reasonable levels to ensure the continuing operation of services.

The value of debtors at year end has reduced from the prior year. Significant amounts of time and effort are expended in following these up throughout the year and currently for the 2023 subscriptions we have reduced debtors considerably again. Amounts outstanding within creditors at year end is also lower than the previous year. All creditors at the year end , due within the year, have now been settled subsequent to year end.

The cash balance within the bank has reduced this year due to the loss made during the year. The balances are considered sufficient for clubhouse maintenance and improvement projects required.

David Crispin – Chairman Dated: 23[rd] April 2023

Tom Drysdale – Treasurer Dated: 23[rd] April 2023

Page 1

SURREY RIFLE ASSOCIATION

TRUSTEE’S REPORT FOR THE YEAR ENDED 31 OCTOBER 2022

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 2022 this reserve was a surplus of £131,644. This reserve will be used to cover specific capital improvement projects planned for 2023, as well as to cover unforeseen future maintenance and other commitments. This reserve has decreased from last year as a result of an operating loss 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

SURREY RIFLE ASSOCIATION

TRUSTEE’S REPORT FOR THE YEAR ENDED 31 OCTOBER 2022

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 23[rd] April 2023 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 2022

I report on the accounts of the Surrey Rifle Association for the twelve months ended 31 October 2022, 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

KW Steward Ltd

Dated:

Page 4

SURREY RIFLE ASSOCIATION

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 OCTOBER 2022

DEPENDENT EXAMINER’S REPORT FOR THE
AR ENDED 31 OCTOBER 2022
Notes
Income
Administrative expenses
Loss/ Surplus for the Period
Retained Result for the Period		 2022
£
65,792
(70,404)
(4,612)
(4,612)		 2021
£
63,074
(51,259)
11,815
11,815

Page 4

SURREY RIFLE ASSOCIATION

BALANCE SHEET AS AT 31 OCTOBER 2022

Notes
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		 2022
£
£
47,435
22,494
7,557
72,670
102,721
(12,884)
89,837
137,272
(5,628)
131,644
136,256
-4,612
131,644		 2021
£
£
52,690
19,902
8,369
77,529
105,800
(16,606)
89,194
141,884
(5,628)
136,256
124,441
11,815
136,256		 2021
£
£
52,690
19,902
8,369
77,529
105,800
(16,606)
89,194
141,884
(5,628)
136,256
124,441
11,815
136,256
102,721
(12,884)		 105,800
(16,606)
136,256
-4,612		 124,441
11,815
136,256
136,256

These accounts were approved by the Committee on 23[rd] April 2023 and signed on its behalf by:

David Crispin (Chairman) Tom Drysdale (Treasurer)

Page 6

SURREY RIFLE ASSOCIATION

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2022

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 2022

2. Tangible Fixed Assets

Short
Leasehold
Land and
Buildings
Cost
£
At 31 October 2021
165,282
Additions
Disposals
0
At 31 October 2022
165,282
Depreciation
At 31 October 2021
124,688
Charge for the year
Disposals
3,868
0
At 31 October 2022
128,556
Net Book Value at 31 October 2022
36,726
Net Book Value at 31 October 2021
40,594
3.
Debtors
Debtors
Prepayments and accrued income
4.
Cash at bank and in hand
Current account
Trustee investment account
Cash floats & cash equivalents
5.
Creditors: Amounts Falling Due Within One Year
Taxes and social security
Other Creditors		 Fixtures,
Fittings and
Motor
Vehicles
Total
£
£
172,631
337,913
4,626
4,626
177,257
342,539
160,535
285,223
6,013
9,881
166,548
295,104
10,709
47,435
12,096
52,690
2022
£
2021
5,539
6,408
2,018
1,961
7,557
8,369
2022
£
2021
£
56,250
60,955
12,504
12,504
3,916
4,070
72,670
77,529
2022
£
2021
£
0
2,564
12,88
4
14,042		 Total
£
337,913
4,626
342,539
285,223
9,881
295,104
47,435
52,690
2021
6,408
1,961
8,369
2021
£
60,955
12,504
4,070
77,529

Page 10

SURREY RIFLE ASSOCIATION

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2022

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2022
6.
Creditors: Amounts Falling Due After More Than One Year
Loans from members		 12,884
2022
£
5,628
5,628		 16,606
2021
£
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.

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

Bar
Maintenance and upgrade projects
Employees
The average number of employees during the years was		 2022
£
10,647
240
10,887
2022
4		 2021
7,182
0
7,182
2021
4

8. Employees

Temporary Part Time staff were employed in the Bar and Catering Departments during busy periods.

Total Employment costs
Wages & Salaries
Less Furlough Received
Social Security Costs
Other Pension Costs		 2022
£
69,762
0
0
1,080

70,842		 2021
£
49,928
(10,194)
0
634
40,368

Page 10

SURREY RIFLE ASSOCIATION

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2022

9. Other Expenses

ther Expenses
Independent examiner’s fee
Cost of NVQ training for Staff
Legal Fees
Till differences, gifts & sundry expenses		 2022
£
250
0
56
0
306		 2021
£
250
0
0
199
449

Page 10

MANAGEMENT INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2022

SURREY RIFLE ASSOCIATION

Page 11