Charity reglslrallon nLsmber.' 277566 United Kingdom Practical Shooting Association known as UKPSA Annual Report and Financlal Statements for the Year Ended 31 March 2023 United Kingdom Practical Shooting Association known as UKPSA Contents (continued) Reference and Adminlstralfve Detsil$ Truslees, Report 2to3 Statement of Trustees, Responsibilities Independent Examlnerfs Report Statement of Financial Activiltes 6t07 Balance Sheet United Kingdom Practical Shooting Association known as UKPSA Reference and Administrative Details Trustees W Thomas G Cooper C Gamlin Charity Regtstratlon Numbgr 277566 Prindpal Office PO Box 227 South Shields NE33 9FJ Independent Examlnef J M Russell FCA Jusl Audit & Assurance Ltd 37 Market Square Wllnèy Oxfordshire OX28 6RE Bankers TSB Bank PLC Hungerforij Page 1 United Kingdom Practical Shooting Association known as UKPSA Tnjstees, Report The Trustees present the annual report together wllh the financial 51alemen15 of the charity for the year ended 31 March 2023. Objectives and aclivities Obi8cts and8ln During the year. the Asso¢iation has carried on as agreed wilh the Charity Comml$$lon and a￿an￿ment of amateur sport. The objects of the Association are still to.. 1. The advancement of the amateur sport of Practi￿1 Shooting and Dyn8mic Mart(smanshlp for the public benetht ty.. a) promoting publlc participation, PFactice and development Sn the Sport. and b) the provision of instwction in the sport, includlng In the safe use of firearms. 2. To encourage sklll In Practlcal Shooting by providing instruction and practKe in the use of fire8mis amongst His M8jesty's subiecls so that they wlll be better fitted ￿ serve their country in the Armed Forces, Aimed Forces ReseNe or any other organisation in which their se￿ice$ may be required in the defence of the realm. Followlng the emergence from COVID restricttons our events calend81 has been extende(I to include the intemalional compelilM)ns and our training programs have continued lo in¢re8se. 11 should still be noted that membership of the association is not a requirement to particlpate in a safety course and that our satsty ￿urSe$ also cover the handling of fireamis in relation lo public safety outside of the 'range' environs. In addition, Range Officer Seminars have started movlng back lo on range. Our standing with the pollce force remains high, and the excellence of our training is clearly recognised. The Home Oftice sttll recognise us a National Governlng Organisation INGOI. The UKPSA Is 8 member of the Inlernation81 Practical Shooting Confederètion IIPSCI, an inlemational body that promotes the sport and fosters the spirit of inteinalional wperation and friendship. This has also resulted In vlslts to GB events from a number of intgrnational eompetitors fmm a varlety of dlffereNI Counlrie5. The trustees have had due regard lo guld8nce published by the charlty commlssion on public benefit when exercising any powers or duties to which the ouldance Is relevant. The Trustees confirm that they have complied with tho requirements of section 17 of the Charltles Act 2011 to have due regard to the publi¢ benefit guidance published by the Charlty Commission lor England and Wal8S. Page 2 United Kingdom Pradical Shooting Association knoym as UKPSA Trustees. Report (continued) Flnand81 revitr The AssocFatlon Intends to ulillse Its reserves on opportunstles to develop and promote the sport whll also WFshing to accumulate 8 reserve in order to protect the rnembership against any legal thallenges lo the sport. The resem ujrrenty stands at £242,987. Structure. govemarKe and management The Association's govemance is in accordan￿ with its constitution adopted on 6 November 1982 as amended In July 2020 by Ch¥rlty Commission Scheme for the addhlonal d)arilable ot4e¢t of 8dvaneeff*nt of amateur sport. Govemance consists of five appointed officers comprising a Chaiman, Treasurer. Secretsry, Public Relat￿n$ Officer and Dlre¢lor. These officials are elected ea¢h year at tt* Annual General Meeting. The Trustees of the charity are appointed from thls Ilst and currenty comprlse the Chaimian. Secretary and Treasurer of the AssocSation. Further Councl members are then COwOPted as requlred. The full Councl Ilst can b8 vlewed at https'.IIMwl.ukpsa.co.ukl￿ntaCI-2I Tho UKPSA Constitution 15 availablg at httpsJA•rnw.ukpsa.co.uklukpsates on pages 9 to 14 fom an integral part of these fin8n¢ial statements. Page 8 United Kingdom Practical Shooting Association known as UKPSA Notes to the Financial Statements for the Year Ended 31 March 2023 1 Accountlng pollcles Ststsment of compli8nce The fin8ncial statements have been prepared in accordance with the second ediknon of the Charibe5 Ststement of Recommended Practice issued in October 2019, the Financial Reporting Siandard applicable in the United Kingdom and Republic of Ireland (FRS 1021 and the Charltles Act 2011. 8asls of preparatbon Unlted Klngdom Practical Shootlng Assod8fjon meets the deflnlllon of 8 public benefit entty under FRS 102. The accounts (financial slatementsl have been prepared under the historical cost convention wilh items recognised al cost or transaction value unless otherwise slated in the relevanl note(s) to these 8c¢ounts. Going concem The Truslees conslder that there are no m8terf81 uncertainties about the charity's ability to continue 8S a going concem. Subscriptions. m•fflb8wship fe•$ and othor income Income thal is attributable to annual subscriptions is defeTTed and released to the Consolidated Stslement of Flnan¢ial A¢tivities over the perlod lo whlch the membershlp relates. Llfe membershlp subscriptions are amortised on a straight line basis over a period of ￿nty years. Gift Aid income resulting fmm meMbe￿hIp is matched to th& period to which il relates. Voluntary income including donations, gifts. legacies and gr8nts that provide core funding or are of a general nalure Is reco9nised whers the charity has gnitilemenl to Ihe Income, 11 is probable Ihat the income will be retsived and the amount can be measured with sufficient reli8bility. A great amount of time, the value of which is nol refi8¢tsd in thgse* financial stslements. is donated by our volunteers. Volunteer5 play 8 vitsl role in our s￿p oper8tions. competition organisation and back office administration. Exp8ndliure All expenditure is recognised once there is a legal or eonstru¢twe obligatlon to that expenditure. 11 probable settlement Is requlred and the amount can be measured rellabty. All costs are allocated to Ihe applicable expenditure heading that aggregate similar costs to that category. Where costs ￿nn01 be diTedy attdbuted to particular headlngs they have b8en allocalad on a basls conslstent wlth the use of resources, with centr81 staff costs 811ocated on the basis of time spent, and depiec4atson charges alloc2ted on the portlon of the asset's use. Other support costs are allocated based on the spread of staff cost& Govemance costs These include the costs attributsble to the charity's compliance wrth constitutional and slalutory requirements, including audit. Strateg￿ management and Trustees meetings and reimbursed expenses. Page 9 United Kingdom Practical Shootlng Association known as UKPSA Notes to the Financial Statements for the Year Ended 31 March 2023 (continued) T8xation The charity is consrdered lo pass Ihe lests set out In P8ragr8ph 1 Schedule 6 of the Finance Act 2010 and therefoie il meets the definition of a eharitsble company for UK corporalion tsx purposes. Accordingly. the charlty Is potenti811y exempt from taxation in ￿spect of Income or capital gains received wilhin categories covered by Chapter 3 Part 11 of the CorWr8￿on Tax A￿ 2010 or Sectlon 256 of the Taxatlon of Chargeable Galns Act 1992, kn the e￿ent that such Income or gains are applied exclusively to ch8ritsble Purposes. Intangible assets Intangible assets are staled in Ihe Balance Sheet at cost less accumulated arnortisation and impaimient. They are ¥mortised on a 5tr2ight Ilne basis over their e*imated useful INes. Tanglble fixed essets Tangible assets are stsled In the Balance Sheet at cost les5 ac¢umulated depreciation and impaimient. They are depreciated on a straight line basis over their eslimatfjd useful lives. Amortlsation Amorbsation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value. over their expecled useful economic lrfe as follows: Asset class Trademat*s Amorlisalion method and rate 10% straight line Depreciatlon Depreciation is provided on tangib19 fixed assets so as to wriie off the cost or valuation. less any estimated residual value. over their expected useful gconomic lif8 a5 follow5.. Asset dass Furniture and equipment Dewed811￿ nWhod and rate 10% straight line Flxed asset inve5tmenis Fixed asset inveslments, other than programme related Investments, are induded at markei value at the balance sheet date. Realised galns and losses on investments are cal￿181ed as the difference betsveen sales proceeds and their market value at the stsrt of the year, or their subsequent COSt, and are charged or credited io the Ststement of Flnandal Activit￿ in the period of disFX)sal. Unrealised gains and losses represent the movement In market Yalues during the year and are rediled or charged to the Ststement of Flnancial Activ1￿e$ based on the market value at the yeor end. Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. after due regard for obsolete and slow moving slock& Page 10 United Kingdom Practical Shooting Association known as UKPSA Notes to the Financial Slatements for the Year Ended 31 March 2023 (continued) Fund stru(luro Unreslrtcl8d income funds are general funds that are available for use al the Truslges di$¢retion In furtherance of the objectives of Ihe charity. 2 ExF¢nditure on ¢hariiable athvltles Unrestrlcted funds General Total 2023 Totsl 2022 Note Governan￿ costs 2,369 2,369 2,713 Totsl expendi￿re 3 Analysls of govemance and support costs Govemance costs Uniestslthd funds Genernl Total lund8 Independent examiner fees Examination of the financial slatements Legal fees 1.500 869 1,500 869 Total for 2023 2,369 2,369 Total for 2022 2.713 2,713 4 Trustees remunetalK)n and expenses No Trustees, nor any persons connected V•ryth them, have received any remuneration from the charity during the year. There were no salaries or wages paid by the charity in the year. There was no indemnity insurance pald durtng the year12022 £nill 5 Taxation The charity is a ￿gISte￿(l charity and is therefore exempt trom taxation. Page11 United Klngdom Practical Shooting Association known as UKPSA Notes to the Financial Statements for the Year Ended 31 March 2023 (continued) 6 Intangible fixed assots Tr8dema At 1 April 2022 1.447 At 31 March 2023 Amortlsallon At 1 April 2022 Charge for the year At 31 March 2023 908 144 1.052 Net book value At 31 March 2023 395 At 31 March 2022 539 7 Tangible fixed assets Furniture and equlpment At 1 Aprfl 2022 Aiklition5 13,905 1,200 At 31 March 2023 15,105 Depreciatlon At 1 April 2022 Charge for the year 6.130 1.356 Al 31 March 2023 Net book value At 31 Mareh 2023 7.619 At 31 March 2022 8 Fixed asset Investhne 2023 2022 Other investments 46,664 Page 12 United Kingdom Practical Shooting Association known as UKPSA Notes to the Financial St8ternents for the Year Ended 31 March 2023 (coniinued) Other investments Unllsted Inveslments Total Cost or Valuation Al 1 April 2022 Dispos81s 46,664 46,664 At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 46.664 46.664 9 Debtows 2023 2022 Prepayments Other debtors 18,509 13,104 31,613 1.430 10 Cash and cash equfvalents 2023 2022 Cash at bank 184,378 158.828 11 Credi￿￿5. amounts falling due within one year 2023 2022 Other tsxation and social security Other ueditors Accruals 1871 3.079 231 1,533 1,818 3,582 4.526 Page 13 United Kingdom Practical Shooting Association known as UKPSA Notes to the Financial Statements for the Year Ended 31 March 2023 (continued) 12 Funds B3[an￿ at 1 Aprfl 2022 BOlan￿ at 31 March 2023 IncomiThJ ReSQUTces recognised r•sources expended gainsl{losses) Unrestrlthd General 230,525 119,879 110,211 2,794 242,987 Balance at 1 April 2021 Other Resourcys recognised exp8nded gain￿(10$$es) Balance at 31 Ma￿h 2022 Incomlng resources Unrostricted Gener31 190.045 109,817 0,260 923 230.525 13 Related party transacllons Durlng the year the ch8rity made the following related party transactions: iPrlnt Digital Solutions Limited (One of the Trustees is a diredov of iPrint Digitsl Solutions Limited) £ 7,746 w85 paid during the year for m8rchandise12022 £ 5691- At the ba18nce sheet date the amount due lomrom iPrint Digital Soluilons Llmlted wa5 £Nil {2022 - £Nill. 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