2023-10-31-accounts - Surrey Rifle Association

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Charity Number: 211885

SURREY RIFLE ASSOCIATION

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

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
	Mrs D Curtis
	D Curtis (appointed 24.3.23)
	P Cutts (appointed 24.3.23 and resigned
	5th November 23))
	Miss C Evans (resigned 17.1.23)
	R Kitson (appointed 24.3.23)
	I Shaw
	J Tapster (resigned 23.4.23)
	J Underwood
	C Watson (resigned 23.4.23)
Treasurer	T. Drysdale
Secretary	J Tapster (resigned 23.4.23)
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 2023

The 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. This year again a lot of repairs were required on the kitchen equipment and we also spent a lot of money on the garden and outside seating equipment.

Revenue from subscriptions increased by nearly 20% in comparison to prior year . There was a small number of new members, but the majority of the increase income was due to the necessary increase in subscriptions. Locker rental is similar to the previous year.

The Bar made a profit again this year. Bar Income was slightly lower than the previous year, mainly due to the reduced footfall because of the current financial situation. Bar Profit of £13,050 was achieved this year and the lower percentage was mainly due to increased staffing and increased staffing costs. The catering again proved very popular, both during Shooting Meetings and also for Team and formal private dinners. A small portion of the Catering Income for 2021-22 was at the lower VAT rate of 12.5%, which didn’t increase back to 20% until March 2022. In April 2023, the GPC decided to award a small increase in 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 another 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).

The association’s administrative Expenses was again higher this year. Last year, the Book-keepers wage was brought up to minimum wage on actual hours worked, rather than a set amount, and this was again affected by the increase in minimum living wage in April 2023. The Stewards wages are higher this year, partly due to increase as mentioned above, but also because 2022 included some Statutory Maternity Pay. 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 similar to last year, mainly due to nearly £3,000 being spent on repairs to kitchen equipment and plumbing and regular annual servicing and warranty costs for boiler, fire alarm, and security costs amount to about £2000.

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. In 2024, a slightly lower increase was imposed.

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 was slightly higher than the previous year, due mainly to two large catering invoices from the Summer being paid in November 2023. Significant amounts of time and effort are expended in following these up throughout the year . Amounts outstanding within creditors at year end is similar to the previous year and 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 Tom Drysdale – Treasurer Dated: Dated:

Page 1

SURREY RIFLE ASSOCIATION

TRUSTEE’S REPORT

FOR THE YEAR ENDED 31 OCTOBER 2023

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 2023 this reserve was a surplus of £114,739. This reserve will be used to cover specific capital improvement projects planned for 2024, 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:

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

SURREY RIFLE ASSOCIATION

TRUSTEE’S REPORT

FOR THE YEAR ENDED 31 OCTOBER 2023

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 28[th] April 2024 and signed on its behalf by:

David Crispin Chairman and Trustee

Page 3

SURREY RIFLE ASSOCIATION

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 OCTOBER 2023

I report on the accounts of the Surrey Rifle Association for the twelve months ended 31 October 2023, 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

Dated:

Page 4

SURREY RIFLE ASSOCIATION

INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2023

COME & EXPENDITURE ACCOUNT OR THE YEAR ENDED 31 OCTOBER 2023
Notes Income Administrative expenses Loss/ Surplus for the Period Retained Result for the Period	2023 £ 65,366 (82,271) (16,905) (16,905)	2022 £ 65,792 (70,404)
		(4,612)
		(4,612)

Page 5

SURREY RIFLE ASSOCIATION

BALANCE SHEET AS AT 31 OCTOBER 2023

2022 £ £ 39,632 25,293 10,184 57,901 93,378 -12,643 80,735 120,367 (5,628) 114,739 131,644 -16,905 114,739	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	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
93,378 -12,643	102,721 (12,884)
131,644 -16,905	136,256 -4,612
		131,644


		131,644

These accounts were approved by the Committee on ……………. 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 2023

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 2023

2. Tangible Fixed Assets

Short Leasehold Land and Buildings Cost £ At 31 October 2022 165,282 Additions Disposals 0 At 31 October 2023 165,282 Depreciation At 31 October 2022 128,556 Charge for the year Disposals 3,868 0 At 31 October 2023 132,424 Net Book Value at 31 October 2023 32,858 Net Book Value at 31 October 2022 36,726 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 £ 177,257 252 177,509 166,548 4,187 170,735 6,774 10,709 2023 £ 8,164 2,020 10,184 39,245 12,593 6,063 57,901 2023 £ 0 12,643 12,643		Total
			£ 342,539 252
			342,791
			295,104 8,055
			303,159
			39,632
			47,435
			2022 5,539 2,018
			7,557
			56,250 12,504 3,916
			72,670
			2022 £ 0 12,884
			12,884

Page 10

SURREY RIFLE ASSOCIATION

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2023

6. Creditors: Amounts Falling Due After More Than One Year

	2022	2021
	£	£
Loans from members	5,628	5,628
	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	2023 £ 8,549 173 8,766 2023 5	2022 10,647 240
		10,887
		2022 4

8. Employees

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

Total Employment costs Wages & Salaries Social Security Costs Other Pension Costs	2023 2022 £ £ 71,882 69,762 0 0 3,753 1,080 75,635 70,842

Page 10

SURREY RIFLE ASSOCIATION

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2023

9. Other Expenses

ther Expenses
Independent examiner’s fee Legal Fees Sundry expenses Food Hygiene training	2023 £ 375 0 84 89 548	2022 £ 250 56
		306

Page 10

SURREY RIFLE ASSOCIATION

MANAGEMENT INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2023

INCOME Subscriptions Locker rents Sundry receipts including Donations and grants Bar income Bar cost of sales and running costs Bar surplus / (deficit) Catering income Catering cost of sales and running costs Catering surplus / (deficit) Shooting income Shooting costs Shooting surplus / (deficit) LESS: EXPENSES Administrative expenses EXCESS OF EXPENDITURE OVER INCOME FOR THE YEAR	2023 £ £ 38,674 17,106 697 49,157 (36,107) 13,050 60,595 (68,485) (7,890) 15,321 (11,592) 3,729 65,366 (82,271) (16,905)	2022 £ £ 32,412 16,672 258 56,905 (38,305) 18,600 74,896 (80,202) (5,306) 32,370 (29,214) 3,156 65,792 (70,404) (4,612)	2022 £ £ 32,412 16,672 258 56,905 (38,305) 18,600 74,896 (80,202) (5,306) 32,370 (29,214) 3,156 65,792 (70,404) (4,612)
	60,595 (68,485)	74,896 (80,202)
	15,321 (11,592)	32,370 (29,214)
	(82,271)	(70,404)
			65,792

			(4,612)

ANALYSIS OF EXPENSES ADMINISTRATIVE EXPENSES Wages and salaries, including cleaning Steward’s Wages Rent and Rates Establishment costs (utilities) Telephone Printing, postage, stationery, computer exps & hire charges Advertising Insurance Repairs, renewals and equipment hire Finance and Bank charges and interest Subscriptions Motor Expenses Depreciation Bad debts written off Other expenses Note 9	2023 8,373 16,705 10,672 18,292 712 1,039 0 2,353 9,320 3,907 685 1,610 8,055 0 548 82,271	2022 5,379 11,260 10,401 12,636 622 1,138 250 2,353 8,737 3,962 764 2,581 9,881 134 306 70,404
			70,404

Page 11