Preamble

Information contained in the Annual Report & Financial Statements for FY 2023-2024 has been prepared in accordance with the Charities Act 2011 and the latest Statements of Recommended Practice (SORP – FRS 102 (3rd edition)).

The Annual Return April 2023-March 2024 lists the Trustees in post after the AGM in January 2024, and includes the newly acquired postal address now formally registered with the Charity Commission: UKPSA, Alpha House, 100 Borough High Street, London SE1 1LB.

The Independent Examination has been conducted by the appointed Auditors, Just Audit & Assurance Ltd.

Trustees’ Report

• The Reserves total at the time of the accounting period end is referenced from the Statement of Financial Activities (Page 6 – Reconciliation of funds) as Total funds carried forward, £262,312
  • The ‘Reserves’ have not been apportioned nor set aside for any specific needs and remain as the standard operating expenditure, as determined by Council. 
• Updated links to the newly launched UKPSA website and the URL for the Constitution have been added for reference.
• Within the risk management sphere, I have noted the proposed lead ban impact and the Associations efforts to mitigate against the changes, however I have added no detail as this is a complex matter that is under a different Council agenda.

Statement of Financial Activities

• Subscriptions & Membership Fees: In March 2024 some membership renewals started to accrue and so were categorised as Membership Prepayments due to still being within the previous financial year. These payments account for the apparent £10k difference from last year, and will appear on the next annual return as a surplus.
• Bank interest of £4,774 was from the 100-day notice deposit account we hold with United Trust.
• Purchase of merchandise: Shotgun cartridges via Malmo Guns for membership resale at zero gain.
• International Championship Expenses: Shotgun World Shoot IV and European Handgun Championships are stated on the Balance Sheet as prepayments, as confirmed by the Auditors, based on Charity reporting rules.
• Promotion: The Northern Shooting Show (NSS) expenses
• Website Costs: A combination of UKPSA Forum, event plug-ins, UKPSA data service and Just-Go invoices. 

Other notable points

• Note 8 – Other Debtors

In other debtors we have:

857.02 – From QuickBooks import

12,248.06 – Gift aid accounted for as in income in FY2023, but not yet received as of 31/03/2024

18,946.38 – Gift aid for FY 2024, calculated 25% of donations between 01/04/2023 and 31/03/2024. (Income and debtor)

Total = 32,051.46