SCUBA May 2023 issue 135 | Page 13

SCUBAHUB
SCUBA magazine continues to be well received , especially now that it is back in its printed format . As well as providing support directly to our members , we continue to use our role as the National Governing Body to work with the Department for Digital , Culture , Media and Sport to enable safe diving . We are also continuing our work with the charter boat industry , inland diving sites , BSAC Centres , and other agencies . We consult with the National Water Safety Forum and the BDSG to encourage and promote safe practices . Work with other National Governing Bodies sharing ideas , resources and supporting each other continues to be useful .
While much of our work is positive and satisfying , occasionally we are involved in less enjoyable activities such as adjudicating disciplinary cases . We are grateful for the wider support we have received , especially those volunteers who gave freely of their time to administer the hearing and provide pro bono legal advice ( by a well-regarded Kings Counsel and diving member ). This illustrates how fortunate we are to have such a wide variety of talents and skills within the membership of the Club .
As well as maintaining essential business , Council recognises the need to continually adapt to the changing environment . This is not a simple task and has required a significant change in our overall strategy , which now focusses on delivering a more proactive approach . Following the launch of that new strategy in late 2021 , 2022 focused on moving from design to delivery . Our shift to digital continues , including launch of the BSAC app in September 2021 . This has had over 6,000 downloads to date with further functionality released in February 2023 . The focus on our use of technology continues in 2023 .
Looking forward to BSAC ’ s 70th year , there are significant hurdles and challenges that need to be overcome , not least the increased cost of living which could adversely affect participation and membership . However , there are also great opportunities to innovate and improve the service we deliver to members , and we are excited by this potential .
Ultimately , we are a membership organisation , and the strength of BSAC is reflected by the strength of you , its members . We would like to thank you for your continued support and loyalty .
You are BSAC ! Thank you .
Group Income Statement
2022
2021
For the year to 31 December 2022
£
£
Income Subscriptions
1,193,554
1,103,837
Retail sales , exhibitions & related events
270,457
181,195
Diver training / Instructor courses
190,526
142,012
Overseas royalties & fees
49,279
46,436
Sponsorship & grant income
-
7,000
Other income
2,522
⸺⸺⸺⸺
1,706,338
2,280
⸺⸺⸺⸺
1,482,760
Expenditure Membership direct costs
( 630,910 )
( 538,164 )
Retail , exhibitions & related events
( 146,567 )
( 115,009 )
Diver training / Instructor courses & development
( 419,725 )
( 311,161 )
HQ , Council , NDC , AGM , IT & other administration costs
( 496,432 )
( 492,947 )
BSAC International & other overseas activities
( 7,743 )
( 2,789 )
Sponsorship & grant income utilised
-
( 10,000 )
Depreciation
( 15,849 )
⸺⸺⸺⸺⸺
( 19,117 )
⸺⸺⸺⸺
( 1,717,226 )
( 1,489,187 )
Operating ( deficit )
( 10,888 )
( 6,427 )
Exceptional income from grant funding
-
⸺⸺⸺⸺⸺
( 10,888 )
107,590
⸺⸺⸺⸺
101,163
Bank interest receivable
358
⸺⸺⸺⸺⸺
2
⸺⸺⸺⸺
( Deficit ) / surplus from ordinary activities before taxation
( 10,530 )
101,165
Taxation
( 1,412 )
⸺⸺⸺⸺⸺
( 1,145 )
⸺⸺⸺⸺
( Deficit ) / surplus from ordinary activities after taxation
( 11,942 )
⸺⸺⸺⸺⸺
100,020
⸺⸺⸺⸺
Total comprehensive result for the year
( 11,942 )
⸺⸺⸺⸺⸺
100,020
⸺⸺⸺⸺
Group and Company Statement of Financial Position
At 31 December 2022
2022
2022
2021
2021
Group
Company
Group
Company
£
£
£
£
Fixed assets Property , plant and equipment
361,287
361,287
366,246
366,246
Financial assets
8
10
8
10
⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺
361,295
361,297
366,254
366,256
⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺
Current assets Inventories
238,752
238,752
198,756
198,756
Debtors
172,458
186,186
176,231
188,978
Bank & cash
459,914
406,181
537,156
489,864
⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺
871,124
831,119
912,143
877,598
⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺
Current liabilities
Creditors : Amounts falling due within one year
( 746,788 )
( 739,474 )
( 780,824 )
( 774,199 )
⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺
⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺ Net current assets 124,336 91,646 131,319 103,399
⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺
Total assets less current liabilities
485,631
452,942
497,573
469,655
⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺
Funded by Reserves : Income & expenditure reserve
485,631
452,942
497,573
469,655
⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺ Accumulated fund 485,631 452,942 497,573 469,655
⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺ ⸺⸺⸺⸺
These summary accounts are not extracted from audited accounts . Due to changes in current audit regulations and the impacts of ISA240 and ISA315 , Azets Audit Services took the decision to streamline the audit process and mitigate risk for the firm . As a result it was decided that specific audit departments would now complete audit assignments which has resulted in some temporary resource issues . Azets Audit Services has committed to issuing its opinion on the Financial Statements of the British Sub-Aqua Club mid-April 2023 .
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