Annual Report and Accounts 2014

NATIONAL SMALL-BORE RIFLE ASSOCIATION

ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN THAT the one-hundred-and-eleventh ANNUAL GENERAL MEETING of the members of the National Small-bore Rifle Association will be held at Lord Roberts Centre, Bisley Camp, on Saturday 1 August 2015 at 12.00 noon.

AGENDA

1. To receive the Report of the Board of Management and Statement of Accounts to 31 December 2014.

2. To elect two Treasurers. Mr R V Watchorn retires in accordance with Article 28A of the Articles of Association of the N.S.R.A.

3. To elect members of the Board of Management.

3A to re-elect Mr I P Burton who retires in accordance with Article 28B of the Articles of Association of the N.S.R.A.

3B to re-elect Mr D R V Parish who retires in accordance with Article 28B of the Articles of Association of the N.S.R.A.

4. To authorise the Board of Management to appoint the Auditors for the ensuing year and to determine their remuneration.

Lord Roberts Centre, R V Watchorn Bisley Camp, Company Secretary Brookwood, Woking, Surrey, GU24 0NP. 30 May 2015

APPOINTMENT OF PROXY

In accordance with Article 20 of the Articles of Association, Members who wish to appoint a proxy should complete the instrument below and arrange for it to be lodged with the Secretary at Headquarters by 10.00 a.m. on Friday 31st July 2015.

I ...... of ...... in the County of ...... being a (+ ...... ) Member of the above named company

Hereby appoint;*...... or failing him the chairman of the meeting as my proxy to vote for me on my behalf at the annual general meeting of the company, to be held on Saturday the 1st day of August 2015 and at any adjournment thereof.

Please indicate with an X in the appropriate space below how you wish your votes to be cast. If no such indication is given the proxy may vote as he thinks fit or abstain from voting. For Against

Resolution No. 1 Report and Accounts ….. …..

Resolution No. 3A to re-elect Mr I P Burton who retires in accordance with Article 28B of the Articles of Association of the N.S.R.A. ….. …..

Resolution No. 3B to re-elect Mr D R V Parish who retires in accordance with Article 28B of the Articles of Association of the N.S.R.A. ….. …..

Resolution No. 4 to authorise the Board of Management to appoint the Auditors for the ensuing year and to determine their remuneration. ….. …..

Signed this ...... day of ...... 2015.

Signature ......

+ Insert Life, Annual, Representative, Nominated, as applicable. * Unless you insert the proxy’s name in the space provided you will be deemed to have appointed the Chairman of the meeting.

Lord Roberts Centre, R V Watchorn Bisley Camp, Company Secretary Brookwood, Woking, Surrey, GU24 0NP. 30 May 2015

NATIONAL SMALL-BORE RIFLE ASSOCIATION

ANNUAL GENERAL MEETING - 1.8.2015

CANDIDATES FOR THE BOARD OF MANAGEMENT

MR I P BURTON

Ian lives in the Scottish Borders and works as a business/technology consultant, helping businesses and organisations solve problems using his experience as an engineer and software developer to bring about practical solutions. He has 3 school age children, the oldest of which competes in local and regional leagues on a regular are basis. Ian started shooting at Bedford Modern School in 1975 at the age of 13 and has been a regular competitor ever since at a range of clubs, both in the UK and overseas since. Ian has competed at club/county/national level and is still actively competing. He is currently Club President at Selkirk Rifle Club and Secretary at Hawick Rifle and Pistol Club.

MR D R V PARISH

Retired from Barclays Bank. Associate of the Chartered Institute of Bankers. Vice President, Sussex County Small-Bore Rifle Association. Regional Rifle Coach and County Pistol Coach. Member of NSRA Board of Management 1991 to 2015. Chairman of International Committee and member of Coaching and Development Committee. Member of ISSF Electronic Scoring Targets Committee.

iii

NATIONAL SMALL-BORE RIFLE ASSOCIATION

REPORT OF THE TRUSTEES WITH THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2014

(This report includes matters required to be given in a report of Directors under the Companies Acts)

REFERENCE AND ADMINISTRATIVE DETAILS:

FULL NAME National Small-bore Rifle Association

GOVERNING DOCUMENT Memorandum and Articles of Association

CHARITY REGISTRATION 215468

COMPANY REGISTRATION 76008

ADDRESS Lord Roberts Centre Bisley Camp Brookwood Woking Surrey GU24 ONP

LEGAL STRUCTURE The National Small-Bore Rifle Association (NSRA) is a company limited by guarantee of its members and incorporated under the Companies Acts on 8 January 1903.

ORGANISATION The trustees are the Directors of the Association who form the Board of Management, which is the ultimate governing body. Life or Annual Members of the Association are appointed to the Board of Management by the membership.

CHARITABLE OBJECTS The Association is required by Charity Law to act within the charitable objects set out in the Memorandum of Association.

OFFICIALS

PATRON H M The Queen

VICE PRESIDENTS Mr W G Doe Mr R W Johnson, FCA Sqn Ldr F R Leatherdale, DFC Mr G D Pound Mr Hugh Smythe BA LLD Mr J Wheatley CBE Mr F Whitaker Mr R J Wingrove

EX-OFFICIO VICE PRESIDENTS Lord Lieutenants in the United Kingdom

The BOARD of MANAGEMENT (being the Directors and Trustees of the Charity who served during the year to 31 December 2014) Chairman Mr R W Newman Vice-Chairmen Mr R B Loughridge Mr K I Nash Honorary Treasurer Mr R V Watchorn Members Mr C E Blow Mr I Burton Mr M J Chapman Mrs J Coleman Mr E Kendall Mr J O Lloyd Mr R J Monksummers Mr D R V Parish

SUB-COMMITTEES Mr D Brigden (a) of the Board of Management Mr M J Chapman (r), (ref) Mr W J Dallimore (int) Mr R Evered (c) Mr M Gault OBE (pac) Mr R R Green (pac) Mr A Gregory (pac – from 1 May) Mr R Heath (ref) Dr P Holdstock (ref) Mr F Jennings (r) Mr E Kendall (c), (r) Mr G Lawson (a) Mr J O Lloyd (pac) Mr D A M McIntosh (int) Mr P M Mann (r) Mr R J Monksummers (pac) Mr I Morris (pac) Mrs K Morris (pac) Mr D A D Mottram (a) Mr K I Nash (r), (ref) Mrs J Nicholl (a) Mr D R V Parish (c), (int) Mr C Powell (ref) Mr D Poxon (pac), (r) Mr P L Ralph (a) Mr P C Scanlan (int) Mr H C Taylor (r), (c) Mrs E J Twyford (pac) Maj P F C Underhill (int) Mr M Woodhead (c)

Key: a Special Awards Committee c Coaching & Development Committee int International Committee pac Pistol, Airgun & Crossbow Committee r Rifle Committee ref Referees Committee

SHOOTING COUNCIL being the Board of Management and: (attendance in 2014 shown in [])

Administrative Members Mr M J Chapman (2012) [3] (with year of election) Mr A N Gibbons (2012) [3] Mr F Jennings (2013) [3] Mr R W Johnson, FCA (2014) [3] Mrs A J Millar (2014) [2] Mr K I Nash (2014) [3] Mr D R V Parish (2013) [3]

County Association Representatives Aberdeenshire Mr K J Beaton [0] Ayrshire Mr C Fox [0] Bedfordshire Mr G R Brown [1] Berkshire Mr P G Strong [2] Buckinghamshire Mrs J Nicholl [2], Mr A J Williamson [1] Caithness Mr H Simpson [0] Cambridgeshire Mr D A D Mottram [3] Cheshire & North Wales Mr H C Taylor [3] Cornwall Mr P L Ralph [3] Cumbria & Northumbria Mr P J Turnbull [0] Derbyshire Mr S Favell [1] Devon Maj A R Harvey [3] Dorset Mr A Motson [2] Durham & Cleveland Mr R D Jeffries [3] Essex Mr B Allsop [3] Fife & Kinross Mr A Bertram [0] Forth & Clyde Mr I Henderson [0] Gloucestershire Mr E Hatcher [3] Hampshire Dr C J Gadsden [3] Herefordshire Mr T Horsfield [3] Hertfordshire Mr K I Nash [3] Isle of Man Mr B T Jones [3] Jersey Mr S Le Couilliard [0] Kent Mr J D Watterson [3] Lancashire Dr P Holdstock [3] Lincolnshire Miss K Andrews [2], Mrs V Blow [1] London Mr B A Page [0] Lothian Mr J R Buchanan [2] Middlesex Mr M Phipps [3] Norfolk Mr R Broscomb [3] Northamptonshire, Leicestershire & Rutland Mr D Poxon [3] Northern Ireland West Mr S Kelly [0] Nottinghamshire Mr A Cooney [3] Oxfordshire Mr J Sims [3] Perthshire Mr I G Gray [0] Scottish Southern Counties Mr G Lawson [3] Shropshire Mr R S Heath [1] Somerset Mr S D Jones [3] Staffordshire Mr R Craddock [3] Suffolk Mr W H Bond [2] Surrey Mr D Brigden [3] Sussex Mrs E Twyford [3] Ulster Counties (East) Mr R R Green [1] Warwickshire Mr M F Doble [3] Wiltshire Mr J Harris [0] Worcestershire Mr D Hargreaves [2] Yorkshire Mr J R Osborn [2]

Invited Observers Service Organisations RNRMTRA LAET R Brown [0] ARA Maj A Higham [0] RAFSAA Sqn Ldr P Upham [2] TARA & CCRS Maj S Fraser [0] HQ Universities & ATC Wg Cdr M Eveleigh [0] SCC Lt Cdr B Madden [0]

Civilian Shooting Organisations British Pistol Club Mr D Levene [2] Civil Service SCTSA Mrs L D Martin [3] Disability Shooting GB Mr D Hinchcliff [1] English SSU Mr M T White [1] Police Sport UK Mr D A D Mottram [3] Prep Schools RA Mrs M Eveleigh [0] Scottish SRA Mr J R Buchanan [1]

PRINCIPAL PROFESSIONAL ADVISERS Auditors Rouse Audit LLP 55 Station Road Beaconsfield Bucks HP9 1QL

Bankers Bank of Scotland plc National Westminster Bank plc Pentland House 15 Bishopsgate 8 Lochside Avenue London EC2P 2AP Edinburgh EH12 9DJ

Insurance Brokers Perkins Slade Ltd 3 Broadway Broad Street Birmingham B15 1BQ

Solicitors Dutton Gregory LLP Knights 25 St Peter Street Regency House Winchester 25 High Street Hants SO23 8BT Tunbridge Wells Kent TN1 1UT

Lawrite HR Wilsons Longcroft House Steynings House 2-8 Victoria Avenue Fisherton Street London EC2M 4NS Salisbury SP2 7RJ

NATIONAL SMALL-BORE RIFLE ASSOCIATION

REPORT OF THE TRUSTEES WITH THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2014

(This report includes matters required to be given in a report of Directors under the Companies Acts)

THE ASSOCIATION'S STRUCTURE The Association is a registered charity. It has three wholly owned subsidiaries. NSRA Limited owns Lord Roberts Centre from which it provides shooting and other sporting and social facilities and a shop selling shooting equipment; Bisley Sports Wholesale Limited sells mainly imported shooting equipment to the retail trade; and Franko Rosso Limited imports shooting equipment. The results of these subsidiaries for the year can be seen in Note 6 of Notes to the Financial Statements.

MANAGEMENT STRUCTURE The Association is controlled by its members through the exercise of democratic voting rights as individuals or as representatives of affiliated clubs, associations and other groups to elect a Board of Management, one third of whom retire annually in rotation. Members of the Board serve in an honorary capacity and are the directors of the company and the charity trustees. A separate Shooting Council, which draws its members from County Associations, meets to determine rules and conditions for the conduct of shooting in competition in a safe and disciplined manner. The Shooting Council elects annually one member of the Board of Management, the Chairman and one of the two Vice-Chairmen. The Board delegates responsibilities for administering to the needs of its members to sub-committees of unpaid volunteers elected annually by the Shooting Council, supplemented by annual appointments by the Board to achieve a balance of skills and experience in the committees. The day-to-day business administration and implementation of Board policies and decisions is controlled by the Association’s senior staff in conjunction with designated Board members. In 2014 there was an average of 37 paid employees (12 of whom were part time and 3 casual) including those employed in the two trading subsidiaries.

The Association continues to derive benefit from many hours of unpaid work by volunteers who serve on the Board of Management and its committees, the Shooting Council, and in other capacities in the pursuance of its charitable objects. The Association’s thanks are due to them, and to the NSRA staff, for their hard work during 2014.

THE ASSOCIATION’S PURPOSE The Association’s purpose is to fit Her Majesty’s subjects for the defence of the Realm by the advancement of skill in rifle and other shooting by provision of skilled instruction and opportunity to practise and in furtherance of such objects, to exercise lawfully powers to promote the formation and maintenance of rifle and pistol clubs, to furnish or afford facilities for the acquisition of rifles, pistols, ammunition, shooting equipment and suitable apparatus, and to offer, provide and contribute to prizes for skill in shooting. We have referred to the guidance in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives they have set. The Association supports these objects by:

Ø Acting as the governing body for small-bore shooting;

Ø Instructing shooters of all ages, through a structured coaching scheme, in the proficient use of firearms and airguns;

Ø Organising competitions and championships to foster marksmanship skills;

Ø Providing a shooting supplies service to clubs and their members;

Ø Supporting the youth movement;

Ø Facilitating the provision of small-bore ranges and maintaining its own ranges at Bisley and Aldersley for the use of shooters;

Ø Developing shooting equipment.

The Association is the governing body for target-shooting activity with firearms under .23in. calibre, airguns and cross-bows. In the course of promoting target shooting activity the Association also achieves the charitable purposes of:

Ø Educating young persons in the safe handling and lawful and proficient use of firearms and airguns; and

Ø Improving the quality of life of the disabled by providing the means for attainment of skills and achievement in competition.

The private ownership of firearms and ammunition in the United Kingdom is regulated by law. The legal formalities and restrictions on the possession of firearms and ammunition, especially as regards young persons, are inhibiting factors in the pursuance of the Association’s objects. The promotion of target shooting activity with airguns is the prime means of introduction for youth groups and the Association offers a training programme for leaders and a proficiency scheme for participants. Shooting skills learned with equipment of one kind are easily transferred to equipment for other shooting disciplines as shooters make progress and our youth development programme is our best means of introducing the greatest numbers of newcomers to target shooting.

The Association offers an extensive programme of summer and winter competitions for club and county teams on a postal basis, individual postal competitions and championship meetings. Competitive target shooting has always served as the basis for evaluating marksmanship skills and shooting has featured in the Olympic Games since 1896. Despite the restrictions placed on pistol shooting in Great Britain a range of pistol courses of fire and related competitions is available for air pistols and a number of types of small-bore cartridge pistols, whilst centre-fire cartridge pistol shooting is still available to shooters in Northern Ireland, the Channel Islands and the Isle of Man.

The Association continued to work as a member of British Shooting on matters connected with participation in international level competition. British Shooting is concerned with athletes of the highest level of ability and those identified as strong candidates for progress to that level. British Shooting is also concerned with British representation at the Olympic Games and the events leading to Olympic participation, such as the World and European Championships and World Cups. It works in close co-operation with the Home Countries, which receive separate funding and have their own Squads and programmes of international matches. The NSRA’s direct role in such activities is therefore very limited, although the athletes in the rifle and pistol disciplines within these structures are drawn from the Association’s individual members.

ACTIVITIES DURING THE YEAR

Organisation and Staffing Very limited changes to the staff in the charity. Announcement of retirement of Brian Woodall in 2015 and recruitment/departure of Peter Underhill. Departure of Bryan Smith from Competitions Dept.

Membership There were no changes made to the affiliation structure for clubs and other organisations and the membership arrangements for individuals. There was a modest net decline in the number of affiliated organisations compared with the previous 12 months.

Individual members

Affiliated Organisations 2014 2013 % change UK Clubs 900 906 -0.7 UK Category B, C, D & E Associations 124 128 - 3.1 Overseas Clubs and Associations 9 8 +12.5 Total 1033 1042 -0.9

Individual Members 2014 2013 % change Life 448 482 -7.1 Annual 3686 3570 +3.2 Associate 1062 1211 -12.3 Total 5196 5263 -1.3

Shooting The training and selection of shooters to represent Great Britain in rifle and pistol at international level now largely rest with British Shooting and Home Country Federations. This particularly applies to world cups, European Championships and Olympic games; however it is still the case that the shooter taking part in these events will be members of the Association.

In the International Postal matches GB teams won the Dewar and Wakefield matches and in the Randle the team scored 3395, five points ahead of the USA. In the Drew matches for junior teams the U.S.A had a clean sweep across all three Competitions.

The Commonwealth games were held in Glasgow, the shooting events took place at a temporary range which was constructed at Barry Buddon just outside Carnoustie some 90 miles from Glasgow. From the Home Countries there were 14 competitors who made it to the finals of the disciplines of Air-Rifle, Air-Pistol, Pistol and Rifle. Seven of those competitors won Medals, Kenny Parr won a bronze in the Men’s 50 Metres, Jen McIntosh took Bronze in the Women’s 50 Metres and also took silver in the Women’s 3P, Kristian Callaghan took Bronze in the 25 Metre Rapid Fire Pistol. Dan Rivers took a bronze in the Men’s Air-rifle and the only gold medal for Team England in the Men’s 3P. Mick Gault became the most decorated man in English sporting history. When he won the bronze medal in the 10-Metre Air Pistol shooting discipline, he has a total of eighteen Commonwealth medals.

For the Five National Meetings the aggregate number of competitors was lower than last year although we did receive increased entries at some meetings, the biggest drop was at the National Meeting at Bisley with the entry being approximately 80 competitors down, luckily we did increase the number to entries at the Scottish meeting (+15), the International 50 Metres meeting entry was also down by 14, the Pistol Championships in September also draws a very small number of Competitors and with less than two weeks to go there were only 35 competitors with a lot of hard work from the PAC Committee by the close date we had 85 competitors 30 more than 2013.

There were 334 competitors at the British Open Air Gun Championships in February one more entrant than the previous year. Jen McIntosh won the Women’s Championship, Dan Rivers won the Men’s Open Championship, Pavleas Voitiukevicius and Coral Kennerley won the Open Air Pistol Championships.

The British International 50 Metre Rifle Championships was again held in June. There were 131 a decrease of 14 on 2013, Jonathan Andrews won the Men’s prone, Kenny Parr won the Men’s 3P, Jenny Corish won the Women’s 3P, and Sarah Henderson won the Women’s prone.

The Scottish meeting was held in Lauder the entry was 205, fifteen entries up on the previous year, the weather was mostly good but we did get some rain during the week. The Scottish Prone Champion was W A Copland of the Banff & MacDuff Club who won the title after a shoot off with T F Hodgson the winning margin being only one point.

The National Meeting at Bisley was again hampered with the parking situation which the NRA imposed on us, the disabled parking was again on the range to the side of the tented area. The other change was the new timetable which had to be implemented due to safety concerns highlighted by the Board, Ken Bowley won The British Prone Championship, Sheena Sharp was second. J A Smith form Colchester won the leading Junior in The British Prone Championship.

The Pistol Meeting was held on its normal weekend in September the entry did increase compared to 2013. The total number of entries was 85, 30 more than 2013 but even with this number the meeting still made a loss. The Gallie which has historically been shot during the Channel Islands Open has now moved to The Pistol Championships and was won by Iqbal Ubhi, he also had the highest score in the Mayleigh Match, The Allies British Short Range Championship was won by Mrs C Broome and K Darling won the British 50M Pistol Championship.

This year we trialled local scoring on both the National Long Range (including the Scottish League) and the 50 Metres League, this trial was to assess the practicality of potentially using local scoring to reduce the cost to the clubs. The trial was set up in a way that we could assess as much information as possible so that we could highlight any weakness and provide solutions so that we could ensure that all local scoring that is undertaken is to a uniform standard. We are hoping to progress local scoring and we have planned to review this year’s trial and run local scoring during the summer season next year.

The Competitions Department continued to use email correspondence as its main communication to the Clubs and Individuals and also started to compile lists of addresses so that emails can be sent to just the relevant correspondents and not anybody else. Results were arriving back at the clubs approximately two weeks after the last date for shooting, although this was extended if the Competitions Department was involved in other activities.

Scorers Course The current number of qualified scorers is now 822 from 69 courses. This includes a course set up specifically for the Scout Association. Several more B Class scorers have asked about running courses and have been provided with materials and support. Following the trials of local scoring and a review the data, an update of the course is ongoing and a further local scoring trial planned for next season.

Regional Coach Course 12 candidates completed the new NSRA Regional Coach Course at LRC which took place over two weekends in March and April. The course comprised of new materials and was delivered completely by “in house” trainers. This made the course more specific to the needs of shooting coaches and enabled the costs to be minimised. The course was well received and some candidates have been canvassed for feedback. Following the course a “wash-up” meeting has taken place with the trainers to discuss what worked, what could be improved and any changes necessary to the basic format. It is hoped to deliver another course in the next 18 months. The candidate’s assessment comprises the submission of a 6 month coaching diary/log of work with 3 or more shooters.

ISSF Coaching Courses Keith Morris and Sinclair Bruce have successfully completed the ISSF B Coaching course in Montenegro this year. Following the success of Keith Morris a few years ago in attaining the ISSF C Coaching qualification, another disabled Class C Coach from another country has been qualified by the ISSF Academy.

Lightweight Sport Rifle Development Following discussions at the Pistol, Airgun and Crossbow Committee a working group was proposed to look at the development of the Lightweight Sport Rifle discipline in particular new competitions. Due to difficulties in getting the working group members together for a face-to-face meeting, individual meetings took place to gather information and ideas on the development of the LSR discipline. The current NSRA and NRA competitions have been analysed and formed the start point for the group. It is also expected to run a survey of Lightweight Sport Rifle shooters to identify what kind of competitions they currently shoot in (from any National Governing Body, county or club) and what others they would like to see developed. This was put into a paper together with information from other organisations’ competition programmes and presented to the Pistol, Airgun and Crossbow Committee. The committee are now considering changes to the rules, current and future competitions and a British Championships for 2015.

Bench Rest Club Instructor Course A meeting took place at Driffield Rifle Club to gather more information and images of benchrest shooting for the new course. Both international style shooting and NSRA Benchrest were observed and discussion about the similarities/differences noted. It is hoped to run the first courses in 2015.

Crossbow Development An outline plan for the development of Sport Crossbow competition has been put together:

• Stage 1 – will include the development of rules, witnessing and the competition format for a postal event to run in summer 2015. • Stage 2 – this will be taken to the next PAC meeting for discussion and amendment. • Stage 3 – PAC present this to Shooting Council for approval

The competition is likely to be run along the lines of the current individual airgun event comprising of 3 rounds. A 10m competition would be the ideal start point as it could be run not only by clubs but also by uniformed groups (e.g. Scouts, Cadets etc). If there is sufficient demand a 20yard version could be considered and if this is successful a National Championships could be planned for 2016 – this could also include not only the short range competitions but also more mainstream long range events.

Scouting is in the process of changing their PORs (Policy Organisation and Rules) to place Crossbow within the Shooting section of their activities as distinct from archery. This will allow more development of crossbow within their organisation.

Club Support Support continued to be provided to a number of clubs seeking external grants for improvement of facilities. This included letters of support to external organisations and signposting clubs to appropriate grants available nationally and locally. These have included Sport England grants for “Inspired Facilities” to cover extensions, improvements

and new builds; “Small Grants” to cover equipment and “Sportivate” grants to cover introductory courses for new participants at local level. This often involved linking clubs to the local County Sport Partnership.

Policies The NSRA has continued to develop its policies and procedures:

• The Scout Association have for a long time used an information card (called a “Yellow Card”) as an aid to helping instructors and others maintain good safeguarding standards when working with young people. It has been suggested that a version of this for shooting instructors would be useful and a draft form of words for the card has been put together and given to the members of the Coaching and Development Committee. Once feedback has been received these can be finalised and distributed to anyone in shooting working with young people. This has now been taken a stage further and the ‘Safe Card’ will be inserted into The Rifleman Summer issue and sent to all full members and clubs.

• British Shooting are currently finalising their policies for inclusion of transgender athletes. A draft NSRA version has been put together in alignment with the BS policy but better reflecting the NSRA systems. Once the BS version is finalised this will be updated.

• A draft version of the Regional Squad Standards has been put together and given to the members of the Coaching and Development Committee. These standards will allow the benchmarking of the squads and mark them as “Performance Hubs” for small-bore shooting. This may give them access to some funding via British Shooting. The main requirement of these standards (beyond what is normally required of a regional squad) is that they have strong links to Scouts, Cadets, schools and other youth organisations in their area to provide feeders for the squad.

• A set of standards have been put together to allow students to use 10m air rifle shooting as one of their chosen sports to include in the A Level PE qualification. The draft standards have been sent to the school for feed-back and then will go to be approved by the examining board. It is hoped to have the standards in place for use in the next school year.

Scottish Target Shooting Federation The Scottish Target Shooting Federation has appointed a National Development Manager, Oliver Barsby. Mr Barsby has sent an email to CEOs concerning the potential merger of Scottish target shooting bodies. He has also been provided with information on current coaching structures and numbers of coaches in Scotland to enable the formulation of a development programme. As a result funding for coach development in Scotland has been secured. As Scotland doesn’t have an equivalent of the SE Active People measure they have also been provided with information on clubs and membership in Scotland to help produce in-house measures to demonstrate the effect of any programmes undertaken. The next stage will be to put together a joint plan to help deliver the coaching development programme.

Disability Shooting Programme The latest Sport England Active People Survey has shown a dramatic decrease from 26,500 to 17,300 participants with a disability, although the NSRA has noticed no change in overall participation. It was first thought that this was due to a change in the questions being asked about target shooting in the survey however it appears they have not been changed. As a result the Disability Coordinator post has ceased and with it the British Shooting Disability Shooting Programme. Following missing the year one targets British Shooting was formally placed “on notice” and they were informed of the need to restructure the disability coordinators post, deliver 5 county based pilot participation projects and provide National Governing Body membership data from a disability perspective. It was felt this could be best achieved by replacing the national Disability Coordinator role with two part time “Activator” posts. These Activators based in the North and South, with specific responsibility for several counties each Surrey, Dorset, Devon,

Northamptonshire, Cambridgeshire and West Midlands working locally to better understand and drive participation. The activators are now in post and starting to pursue “leads” within their respective areas. Along with this British Shooting has launched a programme to provide small grants to a number of clubs for projects that will increase disabled participation in the sport. Up to £10 000 in total will be made available to support projects over the next 12 months.

Following this announcement that the Disability Shooting Programme was not going to continue, a meeting took place at West Midlands Regional Shooting Centre between the original members of the project but not including any British Shooting representation. It was decided:

• The project would continue on a voluntary basis as the Disabled Shooting Project 9

• Cross discipline working was very important and should continue • The Disabled Shooting Project would be set up as an organisation in its own right and not be embedded in one National Governing Body • The Disabled Shooting Project would be set up as a charity

The critical functions were to:

• Maintain communications network • Maintain website

Once the project is re-established other activities would be considered as time and funding permit.

British Shooting was asked at the England Development Group if they had any issues with the continuation of the project and they responded that there was no problem. However it was highlighted that the intention was to make sure any activities were complementary between the two organisations. In the meantime individual NSRA projects have continued in particular work with Spinal Units, Dwarf Sports Association UK and Blind/Visually Impaired Development.

Development Round Table A Development Round Table event took place on 18th March, 2014 at CPSA HQ. After introductions there were presentations from British Shooting staff on what participation currently looks like and workshop sessions on what might become the priorities moving forward. Growth, retention and improvement were discussed in the context of National Governing Bodies, coaches and clubs and the feedback gathered together from all the groups helped form British Shooting development strategies. The concept of developing disability, talent and participation hubs was one of the main outcomes of the meeting and this would allow clubs and other organisations to be benchmarked for different purposes. This in turn allows people to be directed to appropriate facilities and give a focus for development for specific tasks. A clubs conference was also discussed but thought to be unfeasible nationally although county or regional based events might be possible. The meeting was generally considered by those in attendance to be a useful event.

Cadet Project Further meetings have taken place with Brigadier Smales from the Central Council for Cadet Rifle Shooting to discuss how British Shooting can best engage with them. This has developed to the point where the cadets are now prepared to officially engage with the project nationally. Major General Niche at support command sent out a note to say cadets are officially working with British Shooting. This should make it easier for the NSRA to engage with the Cadets at all levels. Following this decision that the Cadet movement are officially working with British Shooting an event to launch the project is being planned. The venue for the event is likely to be in London (several locations are under discussion) and a date in February 2015 is being finalised. Nominations are required for who should be invited to the event. British Shooting are working on media engagement pre, during and post event and the group is giving further consideration to what the key messages are that should be put over to those attending. It is hoped to have several examples of good practice available as case studies to showcase at the event. The talent identification opportunities for Cadets have been further discussed with Central Council for Cadet Rifle Shooting. It has been suggested that a letter from NSRA GB Junior Squad could be sent out from Cadet HQ to all Cadet Leaders telling them how to upload their data to the GB Juniors National Database.

For the first time British Shooting put on a stand at this year’s NRA Cadet Meeting – other National Governing Body materials, including NSRA promotional materials, were included on the stand. The CPSA have announced that they are discounting their membership fees for Cadets to encourage more Cadet participation in clay target competition.

Talent Programme The new Performance Director Keir Worth has left British Shooting to take up a post as CEO of England Squash & Racketball. Steve Seligman (BS Talent Pathway Manager) is now taking on the role of Performance Director and British Shooting has appointed Dean Leak as their new Talent Pathway Manager. Dean has previously worked for GB Canoeing offering psychological support to athletes and coaches and GB Taekwondo where he helped launch the “Fighting Chance” talent transfer project.

The first talent recruitment day for the British Shooting GB Academy for small-bore disciplines took place at the Welsh National Sport Centre in Cardiff. Following this, 7 rifle and 2 pistol shooters have been selected to join the GB Academy. They now follow a 6 month trial and talent confirmation period after which they will become full members of the academy. Successful athletes can expect in the region of 70 days contact time annually with

coaches and sports science and medicine professionals. Athletes’ personal coaches will be invited to engage fully with the academy, with the option to attend sessions.

Pathway development Following the establishing of working groups and the subsequent discussions, an executive summary of the proposed pathway has been drafted and further meetings of the England Talent Pathway Working Group have taken place to discuss the lower section of the pathway. This includes the relative positioning of the NSRA GB Junior Squad and the England Academy. Work is currently taking place to ensure the alignment of England Academy and GB Juniors activities and structures. The next stage of this process will be to bring the coaches together and discuss the structure and how it will operate. British Shooting has achieved additional funding from UK Sport to support the Academy Programme and the Coach Development Programme. The latter will provide CPD (Continuous Personal Development) opportunities for selected coaches within the Academy structure and was launched at Bisham Abbey in December 2014.

Target Tokyo British Shooting launched their 'Target Tokyo' campaign. This was a nationwide search for shooters across all disciplines (shotgun, rifle & pistol). The aim of the project is to identify those shooters that have the potential to be developed for the 2020 Olympic Games.

This project is supported by UK Sport and the English Institute of Sport and shooters from all backgrounds and from all disciplines (Olympic and non-Olympic) were invited to apply. The age group being targeted is 14-28 years old, however, people with exceptional talent from outside of the age bracket can be considered on an individual basis. The ‘register your interest’ phase took place during the Commonwealth games (23rd July 2014).

The first stage of the rifle and pistol element of the campaign took place in November at LRC. Around 100 rifle and 50 pistol applicants took part. The candidates engaged in a number of shooting drills whilst being observed by coaches and also had interviews with sports scientists on psycho-social elements. The data is now being gathered together and analysed so a first filter can be made. It is thought that two further sessions (smaller numbers but more intense) will be required to analyse the candidates and produce a final group. Exit strategies are required for those not making the standard but who could populate the levels below the GB Academy.

Army Elite Sports Programme UK Sport, the British Army and the English Institute of Sport are working together on a talent programme aimed at identifying future Olympic medallists from within the ranks. The Army Elite Sports Programme (AESP) launched using a £1.4m donation the British Army received for providing some of the security at the London 2012 Olympic and Paralympics Games. This new partnership is designed to identify men and women in some sports who possess the potential to go all the way to podium places in the Tokyo 2020 Olympics, and beyond. As part of the AESP, talent scientists from the EIS will run assessments in garrison towns nationwide and further afield in Germany and Cyprus. The launch of the AESP six years ahead of the 2020 Tokyo Olympics is recognised as the time required to develop an Olympic hopeful into a medal contender. Shooting is one of the sports which will benefit from this initiative.

Run Shoot Following on from meetings with representatives from Pentathlon GB, British Shooting, NSRA and British Athletics to discuss the development of a run-shoot biathlon style event Modern Pentathlon launched the Run – Shoot programme. This is aimed at cadets, scouts, guides, college and university students, Pony Club and existing runners and shooters who want to try something new.

Pilot sessions of the Run Shoot programme have now taken place and work has begun to refine the format of the sessions to make a national standard programme for the event. Minimum qualifications for the delivery of the event have been agreed – these being NSRA YPS Tutor Pistol with an add-on module. The content of the operational manual that accompanies the programme is being finalised, a workforce development plan started and educator workshops developed to train deliverers.

Discussions have also taken place on the development of a “standard” portable range for use with run shoot and other have-a-go opportunities.

Aside from this initiative, the Run-Shoot for rifle rules (included in the Scout Championships) has been re-written to align them with ISSF Target Sprint.

Club Toolkit Following on from the British Shooting Facilities Project a contractor was engaged to produce an online toolkit that will provide ideas, tools and tips that clubs wishing to grow membership could access. Several drafts were produced and discussed and the final version has eventually become available on the British Shooting website.

British Shooting Development Strategy 2014 – 2020 British Shooting are currently putting together a long term development strategy document to help focus development and provide a guide for future programmes and funding bids. This follows the VMOST system (Vision, Mission, Objectives, Strategies, and Tactics) used by Sport England.

British Shooting Data British Shooting has been gathering data to help better understand the overall makeup of the sport in order to assist planning and development. These exercises included a “data scrape” conducted by SPOGO (a lottery- funded, not-for-profit, digital service designed to help the general public find sport and fitness opportunities near them) that revealed over 270 listings of shooting clubs and grounds. As the exercise was mainly internet based the listings are either known clubs who have a website or commercial operations. They also conducted a survey of participants via the NSRA and the other national bodies which was completed by around 1600 people. The data is now being analysed.

Firearms fees review and consultation The Association through its membership of the British Shooting Sports Council worked with the Home Office and the Police to achieve a realistic increase in Firearm Certificate fees. This was the first review since 2001. The increase is broadly in line with inflation and is far lower than the Police had been hoping for.

Commercial Following the work carried out by the Board and the Chief Executive during 2013 / 2014, the need was clearly identified for a more pro-active commercial approach for the Association and the trading businesses. In support of this decision, the financial year began with the appointment of a new Commercial Manager, Simon Barber. The role of Commercial Manager is new to the Association and the remit of this position is to help improve the financial stability of the organisation through driving revenue generating activities and increased NSRA Membership. This should be achieved through effective marketing communications, building NSRA ‘brand awareness’ and creating increased demand through targeted marketing programmes. Business and Marketing Plans have been prepared and presented by the Commercial Manager and a number of activities are now being implemented. Appropriate budgetary resource and the need for additional marketing and website support were identified for 2015. • New branding created for the Charity, The NSRA Shop, BSW and The Lord Roberts Centre • New advertising and promotional material created for the Charity, The NSRA Shop, BSW and The Lord Roberts Centre • Revised media plan, helping to generate increased demand for the trading businesses • New exhibition displays and improved corporate image for the Charity • Re-designed collateral reflecting a more up-to date organisation

The Rifleman Development projects undertaken to date include The Rifleman magazine, re-designed and re-launched in Autumn 2014. The Rifleman is now produced externally by a contract publisher and as the ‘flagship’ communications tool for the Association presents a broader mix of content and features to interest the new shooter, as well as delivering important news and information to all members on a regular quarterly basis. The magazine is now produced on a more commercial footing and advertising revenue is growing. Feedback from the membership to the new magazine format and presentation has been very positive.

New Websites Our website development programme is also now well underway, with the launch of the new LRC website in May 2014. The new NSRA Shop website is to be launched in 2015 and new NSRA Charity website is currently being worked on. Given the more complex requirements of the new Charity website, the objective will be to develop this project in three phases through 2015. The initial phase will essentially provide a new ‘show window’ for the organisation with new branding and key functionality, with online membership and Competitions modules following shortly afterwards.

Membership Promotion By promoting NSRA Individual Membership more effectively and highlighting the benefits of belonging to the Association we aim to build our membership levels and improve retention across the file. We are looking to target

identified groups and individuals who would match our demographic profile and who have an interest in target shooting. We will also work more closely with our Affiliated clubs to promote individual NSRA membership through this route.

Key commercial objectives are in line with those stated in the 2013 Annual Report: • To improve our marketing communications • To improve services to members • To expand and take advantage of our commerciality • To develop and expand the sport and recruit / retain more members

British Shooting Show: The NSRA decided not to provide a ‘have a go’ presence at this year’s British Shooting Show due to the significantly increased costs levied by the FRL Media Group. We did however take a large corner plot in the main exhibition hall 3 where we presented our new corporate image to the world of shooting. Much interest was shown by those who visited the stand and several new subscriptions have resulted. A great deal of interest was also shown in the selection of NSRA Shop products which we had on display.

New Member Benefits Work has also begun in 2014 to create a number of exclusive member benefits which will help to enhance the value of NSRA membership and aid retention. More details of this will be announced in due course.

RESULTS FOR THE YEAR The Statement of Financial Activities that follows this report is prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and the special provisions of Part 15 of the Companies Act 2006.

Incoming Resources Total gross income for the NSRA and its subsidiaries rose by £212,168 in the year (8.3%). The four main elements of income generation are membership and affiliations, ranges, supply services, and competitions. Membership includes clubs’ affiliation fees as well as individual members’ subscriptions and the tax refunds on them paid under gift aid, and the increase in the year of £14,553 is due partly to an increase in tax refunds by £3,301 and partly to increases in club affiliations and in subscription income by £14,811. Also included here is the income of selling the Rifleman to non-members and of advertising revenue and these reduced by £5,645. Half of the increase in range income was a bounce back from the big reduction in the use of the 10 metre ranges at LRC last year. The rest was from increased hiring of the 50 metre range. Competitions income worsened by £14,429 because of the loss of the boost given to last year’s income from the Pershing Team Fund of £24,966.

Supply Services, which is the sale of goods and services mostly through the trading companies increased by £183,145 (12.2%) primarily because of income associated with the Glasgow Commonwealth Games of £119,993, but also because of increased trading via the internet and from the LRC shop amounting to £84,813 (7.8%). Last year’s income benefitted from the final release of £34,130 held over from the Olympic Games. Subletting during the year of office space and services to CNC, the police department which guards strategic sites in the UK, was again of significant importance to the Association’s finances and remained steady. The overhead costs of keeping up Lord Roberts Centre are unlikely to be met out of income derived from purely shooting activities and so it is vital that the Centre facilities are used for other income generating activities to the fullest extent possible.

External donations and sundry income reduced in the year by £2,265 to £26,488 and rent received increased by £7,649.

Resources Expended As a registered charity, the Association manages three different types of fund; restricted, unrestricted but designated, and general. The restricted funds may only be used for the purpose for which they were created, the designated funds may be used for other purposes if deemed appropriate, and the general fund is everything else, which includes all trading and costs and income from the normal operation of the Association. The Statement of Financial Activities and supporting notes shows the movements on these three types of fund and analyses them over the core activities.

Apart from the Lottery Grant Fund the movements on the restricted funds are relatively small. As in previous years £93,888 has been taken out of the Lottery Grant Fund and set off against the depreciation on the fixed assets for the year, which totalled £135,037. The difference was charged to General Fund. In all, the aggregate balances of the restricted funds reduced by £94,202 (2013: £101,495 reduction).

The designated funds reduced by £14,290 in the year (2013: £3,374 increase) due to net payments out of the Blind Shooting Fund.

The General Fund worsened by £28,323, which was the group operating loss for the year after tax (2013: £21,928 loss).

Total resources expended in the year rose by £228,034 (8.5%). All direct and staffing costs and other overheads are allocated to the main core activities on a consistent basis. Membership, which includes members’ insurance and Rifleman costs, increased by £22,424 (5.2%) of which £6,670 was a reduction in insurance costs and £26,690 was an increase in staffing costs. The rest was an increase in Rifleman production and distribution costs. Ranges, which includes the Aldersley range complex, increased by £2,529 (1.1%).

Supply Services increased by £252,577 (16.0%). £184,056 of this was due to the increase in material costs resulting from the increase in sales and the rest was the increase in staffing and overhead costs allocated to this cost centre. Competitions costs reduced by £38,863 (10.6%), reversing the cost of the Pershing team of £34,347 last year. As always, the intention has been that each competition recovers all its direct costs but in 2014 that again failed to happen. Development costs rose by £1,844 and the costs of international matches fell by £1,151.

Governance costs include the audit fee as well as other legal and professional fees.

Reserves The operating loss of £28,323 incurred in the year has increased the debit (overdrawn) balance on the General Fund to £502,806 at the year end. It is important that this be returned to credit as soon as possible.

The Association continues to be funded to a considerable extent by loans from the membership and trustees which totalled £808,447 at the end of the year (2013: £806,447). The proportion of this that was lent by the trustees and close associates was 42%.

TRUSTEES’ RESPONSIBILITIES The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently; • observe the methods and principles in the Charities SORP; • make judgements and estimates that are reasonable and prudent; • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• there is no relevant audit information of which the charitable company’s auditor is unaware; and • the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

RISK ASSESSMENT Trustees are also required to undertake a risk assessment of the Association’s activities and this process has been carried on by the review of risks related to existing activities and identifying risks connected with new activities and facilities.

WORKING WITH OTHER CHARITIES The governing body for target shooting with firearms of calibres larger than .23in. is the National Rifle Association (NRA). It was formed some 40 years earlier than the NSRA and its charitable purpose is allied to support of the armed forces. The work of the two Associations is complementary rather than competitive and there is some overlap of membership. The two Associations collaborate in matters of common purpose such as relationships with supervisory or regulatory bodies and both are represented on BSSC and British Shooting.

Disability Shooting Great Britain (DSGB) is also a member of British Shooting. Its activities in elite training are in NSRA disciplines of small-bore and air rifle and pistol and many of its athletes and coaches are individual members of the NSRA.

PLANS FOR THE FUTURE The Trustees’ plans for the future centre on two principal objectives:

Ø The provision of the range of services needed by its members and affiliated clubs and organisations in the pursuit of their sport.

Ø The financial stability of the group.

In particular the Trustees will seek to:

• maximise income through the use of its premises by those both within and outside the sport;

• reduce the level of financial indebtedness;

• expand the availability of coaching and other courses, guidance and other resources designed to raise the standard of achievement and quality of experience in its member clubs;

• maintain links and co-operate with other National governing bodies on matters of mutual interest and benefit, in particular with the NRA and CPSA, through British Shooting, in delivering the interventions contained in the Sport England 2013-17 funding programme agreement.

STATEMENT OF DISCLOSURE TO AUDITOR So far as the trustees are aware, there is no relevant audit information of which the company’s auditors are unaware. Additionally, the trustees have taken all the necessary steps that they ought to have taken as trustees in order to make themselves aware of all relevant audit information and to establish that the company’s auditors are aware of that information.

This report has been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and the special provisions of Part 15 of the Companies Act 2006.

Approved by the Board of Management on 30th May 2015 and signed on its behalf:

R W Newman, Chairman R V Watchorn, Joint Hon Treasurer

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF THE NATIONAL SMALL-BORE RIFLE ASSOCIATION

We have audited the financial statements of the National Small-Bore Rifle Association for the year ended 31 December 2014 which comprise of the primary statements such as the Group and Parent Statement of Financial Activities, the Group and Parent Charitable Company Summary Income and Expenditure Account, the Group and Parent charitable Company Balance sheets, and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and Financial Reporting Standard for Smaller Entities (effective April 2008) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with regulations made under section 154 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of trustees and auditor As explained more fully in the Trustees’ Responsibilities Statement (set out on page 6), the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s (APB’s) Ethical Standards for Auditors.

Scope of the audit of the financial statements An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the group’s and the parent charitable company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Trustees’ Annual Report to identify material inconsistencies with the audited financial statements. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Emphasis of matter – going concern In forming our opinion, which is not qualified, we have considered the adequacy of the disclosures made in note 1 of the financial statements, in respect of the continued dependence on the bondholder’s funds, the timing of any repayments and the income initiatives being undertaken which indicate the existence of a material uncertainty which may cast significant doubt on the charity’s ability to continue as a going concern. The validity of the going concern basis depends on the Group being able to operate within its current working capital facilities which requires the assumption that the bondholder will not recall these liabilities. The financial information does not contain any adjustments that might result from this funding being withdrawn. Our conclusion is not modified in respect of these material uncertainties.

INDEPENDENT AUDITOR’S REPORT (CONTINUED)

TO THE MEMBERS OF THE NATIONAL SMALL-BORE RIFLE ASSOCIATION

Opinion on financial statements In our opinion the financial statements:

• give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 31 December 2014, and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (applicable to smaller entities); and

• have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.

Opinion on other matter prescribed by the Companies Act 2006 In our opinion the information given in the Trustees’ Annual Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:

• the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the directors’ report.

Leighton Bower (Senior Statutory Auditor) for and on behalf of Rouse Audit LLP …………………

Chartered Accountants Statutory Auditor 55 Station Road Beaconsfield Bucks HP9 1QL

NATIONAL SMALL-BORE RIFLE ASSOCIATION

Statement of Financial Activities for the Group For the year ended 31 December 2014

Group General Restricted Endowment Total Total Incoming resources from charitable funds funds fund 2014 2013 activities: £ £ £ £ £ Membership 596,283 - 100 596,383 581,830 Ranges 215,881 - - 215,881 195,096 Supply services 1,689,409 - - 1,689,409 1,506,264 Competitions and meetings 191,778 12,965 - 204,743 219,172 Development 11,037 - - 11,037 8,307 Incoming resources from generated funds: Voluntary Income Donations and legacies 15,633 - - 15,633 16,057 Sundry income 8,107 - - 8,107 9,635 Rent received 25,546 - - 25,546 17,897 Investment Income Interest 2,388 360 - 2,748 3,061

Total incoming resources 2,756,062 13,325 100 2,769,487 2,557,319

Resources expended Charitable Activities Membership 450,137 - - 450,137 427,713 Ranges 141,371 93,888 - 235,259 232,730 Supply services 1,828,626 - - 1,828,626 1,576,049 Competitions 312,598 13,639 - 326,237 365,100 International participation 6,789 - - 6,789 7,940 Development 34,084 - - 34,084 32,240

2,773,605 107,527 - 2,881,132 2,641,772 Governance costs 25,070 - - 25,070 36,396

Total resources expended 2,798,675 107,527 - 2,906,202 2,678,168

Net (outgoing)/incoming resources before transfers (42,613) (94,202) 100 (136,715) (120,849) Transfers - - - - -

Net movement of funds (42,613) (94,202) 100 (136,715) (120,849)

Reconciliation of Funds Total fund balances at 1 January 2014 (443,208) 2,753,355 (100) 2,310,047 2,430,896

Total fund balances at 31 December 2014 (485,821) 2,659,153 - 2,173,332 2,310,047

STATEMENT OF RECOGNISED GAINS & LOSSES 2014 2013 £ £ Net outgoings for the financial year (136,715) (120,849) Prior period adjustment - (56,270) Total gains and loss recognised since last annual report (136,715) (177,119)

The statement of financial activities and income and expenditure account has been prepared on the basis that all operations are continuing operations. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 18

NATIONAL SMALL-BORE RIFLE ASSOCIATION

Statement of Financial Activities for the Charity For the year ended 31 December 2014

NSRA General Restricted Endowment Total Total Incoming resources from charitable funds funds fund 2014 2013 activities: £ £ £ £ £ Membership 596,283 - 100 596,383 581,830 Ranges 50,514 - - 50,514 49,774 Supply services 226,946 - - 226,946 225,188 Competitions and meetings 191,778 12,965 - 204,743 219,172 Development 11,037 - - 11,037 8,307

Incoming resources from generated funds: Voluntary Income Donations and legacies 15,633 - - 15,633 16,057 Sundry income 35,904 - - 35,904 54,044 Rent received 13,875 - - 13,875 13,661 Investment Income Interest 2,388 360 - 2,748 2,878

Total incoming resources 1,144,358 13,325 100 1,157,783 1,170,911

Resources expended Charitable Activities Membership 513,502 - - 513,502 484,423 Ranges 89,260 - - 89,260 87,851 Supply services 252,029 - - 252,029 225,076 Competitions 334,351 13,639 - 347,990 372,919 International participation 6,789 - - 6,789 7,940 Development 35,255 - - 35,255 33,049

1,231,186 13,639 - 1,244,825 1,211,258 Governance costs 16,418 - - 16,418 16,140

Total resources expended 1,247,604 13,639 - 1,261,243 1,227,398

Net (outgoing)/incoming resources before transfers (103,246) (314) 100 (103,460) (56,487) Transfers - - - - -

Net movement of funds (103,246) (314) 100 (103,460) (56,487)

Reconciliation of Funds Total fund balances at 1 January 2014 264,105 48,997 (100) 313,002 369,489

Total fund balances at 31 December 2014 160,859 48,683 - 209,542 313,002

STATEMENT OF RECOGNISED GAINS & LOSSES 2014 2013 £ £ Net outgoings for the financial year (103,460) (56,487) Prior period adjustment - (56,270) Total gains and loss recognised since last annual report (103,460) (112,757)

NATIONAL SMALL-BORE RIFLE ASSOCIATION

Summary Income and Expenditure Account For the year ended 31 December 2014

Group NSRA

2014 2013 2014 2013 £ £ £ £ Note Turnover Total income of continuing operations 2,769,487 2,557,319 1,157,783 1,170,911

Less Incoming Restricted & Endowment Fund 12 13,425 34,938 13,425 34,938 Less Incoming Designated Funds 14 19,082 20,930 19,082 20,930

2,736,980 2,501,451 1,125,276 1,115,043

Administration and operating expenses Total expenditure of continuing operations 2,906,202 2,678,168 1,261,243 1,227,398

Less Outgoing Restricted & Endowment Fund 12 107,527 136,433 13,639 42,545 Less Outgoing Endowment Funds - 800 - 800 Less Outgoing Designated Funds 14 33,372 17,556 33,372 17,556

2,765,303 2,523,379 1,214,232 1,166,496

Excess of income over expenditure for the year (28,323) (21,928) (88,956) (51,454)

Balance of General Funds at 1 January 2014 14 (474,483) (452,555) 232,830 284,284

Balance of General Funds at 31 December 2014 (502,806) (474,483) 143,874 232,830

NATIONAL SMALL-BORE RIFLE ASSOCIATION

Balance Sheet As at 31 December 2014

Group NSRA 2014 2013 2014 2013 Notes £ £ £ £ Fixed assets

Investments 6 - - 248,003 267,013 Intangible assets 7 24,540 11,131 17,609 3,400 Tangible assets 8 3,061,538 3,141,755 243,018 250,730

3,086,078 3,152,886 508,630 521,143

Current assets

Stock 9 373,065 375,609 36,001 47,840 Debtors 10 181,321 162,997 903,088 883,582 Cash at bank and in hand 33,934 89,007 14,772 123,454

588,320 627,613 953,861 1,054,876

Current liabilities

Creditors: falling due within one year 11 1,501,066 1,470,452 1,252,949 1,263,017

Net current assets/(liability) (912,746) (842,839) (299,088) (208,141)

Creditors : falling due after one year - - - -

Net assets 2,173,332 2,310,047 209,542 313,002

Funds

Endowments 12 - (100) - (100) Restricted funds 12 2,659,153 2,753,355 48,683 48,997 Unrestricted funds 14 (485,821) (443,208) 160,859 264,105

Total funds 15 2,173,332 2,310,047 209,542 313,002

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standards for Smaller Entities (effective April 2008).

Approved by the Board of Management on 30th May 2015 and signed on its behalf by

……………………………………………………… ……………………………………………………. R.W.Newman R.V.Watchorn

Notes on pages 22 to 31 form part of these accounts NATIONAL SMALL-BORE RIFLE ASSOCIATION

Notes to the Financial Statements For the year ended 31 December 2014

1. Accounting Policies The financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Statement of Recommended Practice "Accounting and Reporting by Charities (SORP 2005)", and the Companies Act 2006.

The charity's activities, together with achievements and performance, and a financial review of those activities, are set out in the trustees' report.

The charity and group continues to rely on funding from loan and bondholders amounting to £808,447 (2013: £806,447). The trustees have considered this in light of the going concern basis and see the continuation of this funding as an important factor. They have also noted that the charity has significant regular income from memberships and supply services and that this is expected to continue. They have sought assurances from the largest loanholders that these funds will not be recalled or withdrawn within less than one year from the date of approval of the financial statements. On receiving these written assurances the trustees have a reasonable expectation that the charity will continue in operational existence for the forseeable future. Accordingly they have adopted the going concern basis in preparing the report and financial statements.

1.1 Basis of Accounting The financial statements have been prepared under the historical cost convention and include the results of the Association and its subsidiary companies, namely NSRA Limited, Franko Rosso Limited and Bisley Sports Wholesale Limited, using the acquisition accounting method. Inter-group transactions and balances have been eliminated on consolidation.

1.2 Incoming Resources Incoming resources represent the income of the Association, excluding VAT, from the activity of promoting target shooting in the United Kingdom. Income is accounted for on a receivable basis.

1.3 Resources Expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Governance costs relate to legal and professional costs and any costs related to the statutory duties of the charity.

1.4 Depreciation Depreciation is calculated to write off the cost of fixed assets over their estimated useful lives. Depreciation has been provided on freehold buildings but not on the cost of freehold land. The Association has adopted the transitional provisions of FRS 15 and has not revalued its freehold property. All other assets are being depreciated on a straight line basis as follows:

Freehold buildings - 2% on cost Ranges and equipment - 4%, 10%, and 20% on cost Furniture, fixtures and fittings - 10% on cost Computer and office equipment - 20% on cost

1.5 Stock Stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items. In some instances the records of original cost of goods for resale may have been updated to current replacement cost, but any difference is not considered to be significant.

1.6 Foreign Currencies Assets, liabilities, revenues and costs expressed in foreign currencies are translated into sterling at rates of exchange ruling on the date on which the transactions occur.

1.7 Grants Receivable Grants are recognised in full in the Statement of Financial Activities when the conditions for the receipt of the grant have been fulfilled. This treatment is in accordance with recommended practice for charities (SORP 2005).

NATIONAL SMALL-BORE RIFLE ASSOCIATION

Notes to the Financial Statements For the year ended 31 December 2014

1.8 Allocation of Costs Costs are apportioned on the basis of what is considered reasonable with regard to the proportion of staff time spent on each activity.

1.9 Operating Leases Rentals under operating leases are charged to the profit and loss account as incurred.

1.10 Pensions The Association operates a group personal pension scheme on behalf of its employees. Contributions are charged to the Statement of Financial Activities as incurred.

1.11 Funds General funds are unrestricted funds which are available for use at the discretion of the trustees in the furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administrating such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Charges for investment management and legal advice relating to the fund are charged against the fund.

1.12 Investments Investments in subsidiary undertakings are included at cost.

1.13 Finance Leases Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.14 Goodwill Positive purchased goodwill is capitalised and classified as an asset on the balance sheet. This acquired goodwill will be written off in equal annual instalments over its estimated economic life. For the purposes of these financial statements goodwill is written off straight line over periods of five and twenty years.

NATIONAL SMALL-BORE RIFLE ASSOCIATION

Notes to the Financial Statements For the year ended 31 December 2014

2. Charitable activities resources expended Membership subscriptions relates to the annual benefits derived from being a member of the NSRA, whereas ranges and competitions income is primarily based on fees for use of the shooting ranges and entry into national competitions run by the NSRA. Supply income is generated principally from activities undertaken at the Lord Roberts Centre and the sale of goods for these activities.

Staffing Group Direct costs Support Total Total 2014 2013 Charitable activities £ £ £ £ £

Membership 166,875 112,053 171,209 450,137 427,713 Ranges 146,790 26,494 61,975 235,259 232,730 Supply 1,070,433 273,197 484,996 1,828,626 1,576,049 Competitions 185,335 82,124 58,778 326,237 365,100 International match participation 6,789 - - 6,789 7,940 Development - 30,914 3,170 34,084 32,240

Total 1,576,222 524,782 780,128 2,881,132 2,641,772

3. Support costs The group allocates its support costs as shown in the table below and then further apportions those costs between the charitable activities undertaken (see note 2). Support costs are allocated on a basis consistent with the use of the resource.

Membership Ranges Supply Competitions Development Total Support costs £ £ £ £ £ £

Staff and admin costs 89,921 32,550 254,728 30,871 1,665 409,735

Establishment costs 70,571 25,546 199,912 24,228 1,307 321,564

Financial costs 10,717 3,879 30,356 3,679 198 48,829

171,209 61,975 484,996 58,778 3,170 780,128

Legal and professional - - - - - 25,070

171,209 61,975 484,996 58,778 3,170 805,198

Governance costs relate to the general running of the charity and are not associated with either generating funds or charitable activities.

Auditor’s remuneration for the group amounted to £11,000.

NATIONAL SMALL-BORE RIFLE ASSOCIATION

Notes to the Financial Statements For the year ended 31 December 2014

4. Staff costs The average number of employees engaged by the Association and its subsidiaries during the year was 37 (2013: 38). No employees had emoluments in excess of £60,000.

The costs shown in the financial statements are made up as follows:

Group NSRA 2014 2013 2014 2013 Staff costs £ £ £ £

Wages and salaries 667,732 631,013 423,620 382,576 Social security costs 53,734 50,321 35,078 33,618 Other pension costs 16,043 21,488 16,043 21,488

Total 737,509 702,822 474,741 437,682

During the year the charity made payments to a former employee amounting to £4,028 (2013: £4,028). No provision has been made in the financial statements for any future liabilities. These contributions are non-contractual payments and at the complete discretion of the charity's trustees.

5. Directors' emoluments Members of the Association's Board of Management are directors for the purposes of the Companies Act 2006 as defined by the constitution of the Association and are the trustees of the charitable activities of the Association. Their appointments are honorary and they may claim reimbursement of out of pocket expenses incurred in the performance of various duties. The aggregate amount of expenses for travel and subsistence was £19,667 (2013: £16,853) drawn by 12 trustees (2013: 12 trustees). Indemnity insurance is in place to cover trustees, which is covered by the general insurance policy of the Association.

6. Fixed asset investments The results of the Association's 100% owned trading subsidiaries have been consolidated in these financial statements.

Group NSRA 2014 2013 2014 2013 Fixed asset investments £ £ £ £

At 1 January 2014 - - 267,013 267,013 Additions in the year - - - - Disposal in the year - - (1) - Diminution of investments - - (19,009) -

At 31 December 2014 - - 248,003 267,013

Investments in group undertakings are stated at cost. The investment in Franko Rosso Limited has been fully written down in the year as it is a dormant subsidiary and the ownership transferred to a fellow subsidiary, NSRA Limited, as part of the group's restructuring.

NATIONAL SMALL-BORE RIFLE ASSOCIATION

Notes to the Financial Statements For the year ended 31 December 2014

The results of the consolidated subsidiaries for the year to 31 December 2014 are summarised below:

NSRA Bisley Sports Franko Rosso Limited Wholesale Ltd Limited Profit/(loss) and net assets £ £ £

Turnover 1,686,808 369,460 - Cost of Sales (1,017,930) (282,871) -

Gross profit 668,878 86,589 - Administration Expenses (628,206) (67,664) (13,430) Operating profit/(loss) 40,672 18,925 (13,430) Taxation (802) (3,739) - Net Profit/(loss) 39,870 15,186 (13,430)

The aggregate of the assets, liabilities and funds was: Assets 3,127,473 439,693 - Liabilities (3,568,210) (403,095) - Net assets/(liabilities) (440,737) 36,598 -

The subsidiaries are used for non-primary purpose trading activities. All activities have been consolidated on a line by line basis in the SOFA.

No provision has been made against the Association's investment in its subsidiaries as the losses to date are expected to be recovered from future profits.

NSRA Limited, a 100% owned subsidiary, is incorporated in England and Wales and provides shooting facilities at the Lord Roberts Centre, Bisley.

Bisley Sports Wholesale Limited, a 100% owned subsidiary, is incorporated in England and Wales and supplies mainly imported shooting merchandise to the retail trade.

Franko Rosso Limited, a 100% owned subsidiary, is incorporated in England and Wales and was dormant during the whole of the year.

7. Intangible assets Group NSRA £ £ Cost At 1 January 2014 (as restated) 34,464 25,000 Additions - - At 31 December 2014 34,464 25,000 Accumulated amortisation Amortisation bought forward (as restated) 23,333 21,600 Change in amortisation period (15,459) (15,459) Amortisation for the year 2,050 1,250 At 31 December 2014 9,924 7,391 Net book value at 31 December 2014 24,540 17,609 Net book value at 31 December 2013 11,131 3,400

The charity has reviewed the amortisation policy associated with the Gehmann trading licence and reassessed the period to 20 years in which to write off the goodwill. The effect is an adjustment to previously amortised goodwill of £15,459. Goodwill will be reviewed annually for any impairment. 26

NATIONAL SMALL-BORE RIFLE ASSOCIATION

Notes to the Financial Statements For the year ended 31 December 2014

8. Tangible fixed assets (Group)

Freehold land Ranges & Furniture, Total & buildings equipment fixtures & fittings Group £ £ £ £

Cost At 1 January 2014 3,737,233 1,070,971 207,520 5,015,724 Additions - - 54,820 54,820 Disposals - - - -

At 31 December 2014 3,737,233 1,070,971 262,340 5,070,544

Accumulated depreciation At 1 January 2014 917,007 837,392 119,570 1,873,969 Charge for the year 70,488 41,386 23,163 135,037 Disposals - - - -

At 31 December 2014 987,495 878,778 142,733 2,009,006

Net book value at 31 December 2014 2,749,738 192,193 119,607 3,061,538

Net book value at 31 December 2013 2,820,226 233,579 87,950 3,141,755

Tangible fixed assets (NSRA)

Freehold land Ranges & Furniture, Total & buildings equipment fixtures & fittings NSRA £ £ £ £

Cost At 1 January 2014 222,956 260,111 44,182 527,249 Additions - - 8,091 8,091 Disposals - - - -

At 31 December 2014 222,956 260,111 52,273 535,340

Accumulated depreciation At 1 January 2014 8,797 232,030 35,692 276,519 Charge for the year 372 10,723 4,708 15,803 Disposals - - - -

At 31 December 2014 9,169 242,753 40,400 292,322

Net book value at 31 December 2014 213,787 17,358 11,873 243,018

Net book value at 31 December 2013 214,159 28,081 8,490 250,730

NATIONAL SMALL-BORE RIFLE ASSOCIATION

Notes to the Financial Statements For the year ended 31 December 2014

9. Stock

Group NSRA 2014 2013 2014 2013 £ £ £ £

Goods purchased for resale 373,065 375,609 36,001 47,840

10. Debtors

Group NSRA 2014 2013 2014 2013 £ £ £ £

Trade debtors 52,442 49,760 5,933 5,176 Amounts owed by group undertakings - - 802,657 796,245 Other debtors 68,962 67,164 67,850 67,358 Prepayments 59,917 46,073 26,648 14,803

181,321 162,997 903,088 883,582

11. Creditors: falling due within one year

Group NSRA 2014 2013 2014 2013 £ £ £ £

Bank overdraft 55,023 - 8,582 - Amounts owed to group undertakings - - - 95 Other loans 808,447 806,447 808,447 806,447 Trade creditors 128,958 147,526 23,304 36,658 Income received in advance 350,521 374,507 348,066 372,891 Taxation and social security 63,125 57,058 13,932 13,794 Other creditors 42,824 45,159 27,422 13,207 Accruals 52,168 39,755 23,196 19,925

1,501,066 1,470,452 1,252,949 1,263,017

NATIONAL SMALL-BORE RIFLE ASSOCIATION

Notes to the Financial Statements For the year ended 31 December 2014

12. Restricted funds

Group NSRA At Incoming Outgoing At 31 At 31 1 January resources resources December December 2014 2014 2014 Endowment funds £ £ £ £ £

Gerald Cafferata Award (100) 100 - - -

Restricted funds

Lottery Grant 2,704,358 - (93,888) 2,610,470 - Gerald Cafferata Award 11,080 360 - 11,440 11,440 British Olympic Appeal 6,962 - - 6,962 6,962 Pershing Trophy Match Fund 9,686 2,193 - 11,879 11,879 GB Junior Squad Fund 11,269 10,772 (13,639) 8,402 8,402 Claude Sonley Legacy 10,000 - - 10,000 10,000

Total 2,753,355 13,325 (107,527) 2,659,153 48,683

Information

Lottery Grant The Association received this grant from the Lotteries Commission in order to construct the Lord Roberts Centre. The grant is being released over the estimated life of the building.

Gerald Cafferata Award The fund represents a gift to be held as capital, with any income generated, to be awarded annually to a deserving junior.

Endowment Fund Endowment has been spent for the purpose.

British Olympic Appeal The fund is used to support BOA in sending rifle and pistol members of Team GB to the Olympic Games every four years.

Pershing Trophy Match Fund The fund is used to support the GB team competing for the Pershing Trophy in the USA every eight years. The next match is expected to be held in 2021.

GB Junior Squad Fund The fund is used to support the development of junior members to international competition standards.

Claude Sonley Legacy The legacy is to support the annual Queen Alexandra Cup competition.

13. Contingent liability As part of the original terms for granting the lottery fund, the Lord Roberts Centre has a secured creditor in the form of a charge held over the property by the English Sports Council in the event that the property be sold. This charge is in favour of the original funds granted by the English Sports Council, as part of the lottery fund, in order to construct the Lord Roberts Centre, amounting to £4,143,329. The charge covers any uplift in market value in proportion to the original investment met by the English Sports Council. No provision has been made for the contingent liability as there is no intention to dispose of the property and it continues to be used in accordance with the agreed terms.

The value of the grant held is being written down over 44 years and the balance outstanding at 31 December 2014 was £2,610,470 and included on the balance sheet under Restricted Funds. 29

NATIONAL SMALL-BORE RIFLE ASSOCIATION

Notes to the Financial Statements For the year ended 31 December 2014

14. Unrestricted funds Group NSRA Restat At 1 Incoming Outgoing Transfers At 31 At 31 January resources resources December December 2014 2014 2014

Designated £ £ £ £ £

Life Membership 5,500 - (500) - 5,000 5,000

Blind Shooting Fund 10,770 19,082 (32,872) - (3,020) (3,020)

Range Grants Fund 14,955 - - - 14,955 14,955

Museum Fund 50 - - - 50 50

31,275 19,082 (33,372) - 16,985 16,985

General (474,483) 2,736,980 (2,765,303) - (502,806) 143,874

(443,208) 2,756,062 (2,798,675) - (485,821) 160,859

Information

Life Membership Fund The fund is being used to ameliorate life members' costs.

Range Grants Fund The fund represents a special allocation set aside from general funds to provide for distribution when the Association has resources available to make a matching investment.

Blind Shooting Fund The fund represents amounts raised by the Association and distributed to further the participation of blind and partially sighted people in target shooting.

15. Analysis of net assets

Group NSRA Net Long Intangible Tangible current term Total Total fixed assets fixed assets assets creditors £ £ £ £ £ £ Restricted

Endowment funds ------Restricted funds - 2,610,470 48,683 - 2,659,153 48,683

Unrestricted funds

Designated funds - - 16,985 - 16,985 16,985 General funds 24,540 451,068 (978,414) - (502,806) 143,874

24,540 3,061,538 (912,746) - 2,173,332 209,542

NATIONAL SMALL-BORE RIFLE ASSOCIATION

Notes to the Financial Statements For the year ended 31 December 2014

16. Trophies

The values of trophies held by the Association are not reflected in these financial statements.

17. Leasing commitments

At 31 December 2014 the Association was committed to making the following payments under non-cancellable operating leases:

Land and buildings Others 2014 2013 2014 2013 Operating leases which expire: £ £ £ £

In one year - - - 338 Between two and Five years - - 18,635 21,060

18. Related party transactions

The following loans are made to the Association by trustees or those closely associated to them:

At 1 Additions Repaid At 31 January in the December 2014 year 2014 Loans £ £ £ £

Mrs C.Nash (wife of Mr K.Nash) 200,000 - - 200,000 Mr K Nash 60,000 118,000 118,000 60,000 Sound and Visual Ltd 203,447 - - 203,447

Interest is paid on the Sound and Visual Ltd loan at 5% above the Bank of England base rate. Interest on the other loans is paid at 2.75% above Bank of England base rate. Interest for the year on these loans amounted to £17,819.

The loan from Sound and Visual Ltd is secured on the land held for the hotel project.

In addition to those listed above the following trustees are also bondholders: £ Mr D.R.V.Parish 50,000 Mr M.J.Chapman 12,000 Mr E.Kendall 10,000 Mr R.Loughridge 5,000

19. Controlling policy

The charity is controlled by the Board of Trustees.