**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_
|**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**
**£**
**£**
**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