BRITISH JUDO ASSOCIATION(THE) - Limited company accounts 20.1

REGISTERED NUMBER: 01393958 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

BRITISH JUDO ASSOCIATION(THE)

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

7

Report of the Independent Auditors

9

Consolidated Income Statement

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Notes to the Consolidated Financial Statements

14

DIRECTORS:

P C Blewett

G H Campbell

Mrs L M Cusack

N G Fletcher

Mrs M A Grzyb

A I Haffner

Mrs C E Lish

F H Prosser

R Saez

A W D Slade

W G Taggart

R Wilkinson

SECRETARY:

A Scoular

REGISTERED OFFICE:

Kudhail House 238 Birmingham Road

Great Barr

Birmingham

West Midlands

B43 7AH

REGISTERED NUMBER:

01393958 (England and Wales)

AUDITORS:

Sedulo Audit Limited

Statutory Auditors

Regency Court

62-66 Deansgate

Manchester

M3 2EN

The directors present their strategic report of the company and the group for the year ended 31 March 2020.

The British Judo Association ("British Judo") is the National Governing Body for Judo in Great Britain and Northern Ireland. Our principal activities have continued to be the encouragement of national judo activities, education and the delivery of elite success in the form of world medals.

Governance

There have not been any new appointments to the Board during this period but it has remained strong with the new appointments from the previous year making valuable contributions supporting the Board.

During the year, there have been several reviews conducted that included comprehensive discussions with Board members. There was a Skills Matrix Assessment using UK Sport templates, a Board Evaluation Survey conducted by Sport & Recreation Alliance and Governance and Finance Reviews by BDO who were appointed by Sport England and UK Sport. Also, Lime Culture a specialist in safeguarding conducted an extremely thorough review of our safeguarding processes and the annual NSPCC was also carried out. The reviews have proved very informative and the recommendations to come out of them will be carried forward by the Board and appropriate departments with the Association. The Sport & Recreation Alliance Evaluation and the BDO review both highlighted some key areas for improvement which included more comprehensive succession planning; diversity of the Board and communication between the Chair and Board members including more formal appraisals. With regard to the recommendations of the Skills Matrix, this identified gaps in the Board which will be captured in a future training plan that will be submitted to the Nominations Committee for approval. Also, substantial work has been carried out to implement the recommendations from Lime Culture and this work is now almost complete. Taking on board some of the recommendations from the reviews, work has also commenced on reviewing and amending the Association's Bye Laws.

Good progress has been made on our relationships with the England Areas. A new model constitution has been introduced which has already been adopted at the AGMs of two areas and the remainder will do so during their 2020 AGMs.

In mid February, planning began on our strategy for 2021-22 with the assistance of Andy Reed as a facilitator. However, Covid-19 meant the next planned meeting in April was unable to go ahead but we are hoping to be able to resume work on this in the near future.

REVIEW OF BUSINESS

2019/20 has been a successful year for the British Judo Association in a number of areas and this has been reflected in the result with a surplus of £91,584 recorded for the consolidated financial year ended 31st March 2020 against a budgeted surplus of £72,423. The variance of £19,161 was due to a reduction in staff costs and overheads.

The surplus for the year of £91,584 has increased the consolidated reserves position as at 31 March 2020 to £201,200. The surplus and consolidated reserves will assist the Association during the unprecedented and challenging times ahead which have arisen due to the Covid-19 pandemic.

Within the subsidiary company of British Judo; British Judo Competitions & Events Limited, the audited accounts for the year ended 31 March 2020 show a surplus for the year of £39,052. This is mainly attributable to the Commonwealth Judo Championship held in September 2019.

Destination@BritishJudo made a small profit of £377. This was mainly due to a restructure within the programme which had resulted in the closure of four hubs.

Cash has remained healthy throughout the year with grant monies, including Sport England and UK Sport being received in advance of expenditure. The balance as at 31 March 2020 was £713,824.

Turnover has decreased in the year to 31st March 2020 by 6%, one key factor in the reduction in the income is the reprofiling of the income from Sport England in 2018/19 which was £130k. Sport England have been flexible and allowed NGB's to reprofile their income into the following financial year to avoid loss of funding in future years. Additionally, the income in Competitions & Events (C&E) declined last year due to the restructure of Destination Judo and reduced events. We are also expecting a decrease in Competitions & Events income in 2020/2021 Financial Year due to the Covid-19 pandemic.

Gross margin has been reasonably consistent since incorporation of the business, with an average margin over the last 5 years of 35%. There was a spike in both gross surplus and margin in 2019 mainly due to an increase in Competitions & Events turnover which rose from £836k in 2018 to £1,045k in 2019 before falling back to a more normal level of £840k in 2020.

During the year the overheads have decreased by £360k from £2.4m to £2.0m. Wage costs have seen the largest reduction of £127k to £736k.

The British Judo Association is a UK Sport and Sport England funded partner. The Association's Funding Agreement sets out that it can be selected for an independent review and during December 2019, UK Sport and Sport England commissioned BDO to undertake a Finance Review. The purpose of the review was to assess the Association set out in the Scope of Review which included financial arrangements to ensure appropriate arrangements are in place to govern the Association's financial activity and purpose of spend to ensure money awarded has been spent appropriately and for the purposes agreed.

The findings of the review were reported to the Association in April 2020 and overall, BDO reached a conclusion of Good. The review of Purpose and Spend was rated Outstanding and the review of Financial Arrangements was rated Good. BDO noted that there have been significant improvements made in the financial arrangements since the change of colleagues in the Finance Team in May 2018. This was supported by their review of papers to the British Judo Association's Board of Directors and Audit and Risk Committee. They found no exceptions in their testing of expenditure, payroll, credit cards, expenses or review of quarterly returns to UK Sport or Sport England. There are also regular and documented monthly controls around reconciliations and good access controls for the bank and ledger system.

KEY PERFORMANCE INDICATORS

British Judo's key performance indicators for 2019 2020 included the following:

Financial

The financial performance and position of the organisation was reviewed at each meeting of the Board of directors, ensuring that cash reserves were in line with policy and that sufficient reserves are also held and forecast to increase. British Judo continued to increase the consolidated reserves through robust financial policies and ensuring a culture of best value that considers quality, cost, timeliness and quantity. The key KPIs monitored were with regards to ensuring that we meet the financial obligations and key targets in performance set by the main funding bodies Sport England and UK Sport. Corporate costs were regularly reviewed to identify ways in which that they can be reduced without hindering growth and performance.

Following the closure of 4 of the Destination@BritishJudo Hubs, the programme grew steadily through the year and ended 2020 in profit. However, it has now been suspended since mid March although there have only been a small number of direct debit cancellations so we remain hopeful the membership will be maintained once we are able to return to judo.

Our IT support is now outsourced and is working really well for the Association whilst also delivering a substantial cost saving. Our HR function was also reviewed this year with one full time member of staff being made redundant and an HR Consultant has been engaged. Again, this has proved to be a beneficial decision for the Association.

Membership

At 31 March 2020, membership in England, including affiliates, was 35,682 up 1,776 on the previous year, exceeding our revised SE target of £35,250. We have overcome most of the challenges faced last year with the move to the new offices and our implementation problems with the new CRM. Measures put in place to stabilise the Destination@BritishJudo programme has resulted in slow but steady growth in participation. New bespoke membership offers for the Private Providers has led to a signification increase in membership from this sector.

Equality and Disability

British Judo continues its commitment to promoting equality and diversity; 26% of our membership is in the lowest four IMDD categories. The male/female gender split remains at 72% - 28%.

The Destination@BritishJudo (D@BJ) is the main programme measured against Sport England's Lower Social Economic Group Targets. At 31 March 2020, 44% (3% increase on 2018-19) of our participants were in the lowest 20% of the socially deprived areas across the country. The D@BJ male/female gender split remains at 64% - 36%.

Talent

The Olympic and Paralympic programmes are at a key stage of the qualification for the Tokyo 2020 Olympic and Paralympic Games. At the mid-point stage of qualification, we currently have 12 fighters in an Olympic qualification position and 4 Fighters in a Paralympic qualification position and we are on track to qualify a substantial team size for these Games. There has been continued success in this period with a medal for the third consecutive year at the 2019 World Championships in Tokyo, 2 medals and 2 5th places at the European Games and 3 medals at the 2019 IBSA VI European Championships. Additionally, we have 4 Fighters ranked in the World Top 10 of the Olympic programme and 1 Paralympic Fighter ranked World No.1.

At Junior level, we have continued to produce outstanding results with a Gold and Bronze at the 2019 Junior European Championships and a Bronze at the u23 European Championships. The performances and results at this level provide evidence of the strength in depth of the Performance System for continued success in Paris 2024 and beyond.

The British Judo Centre of Excellence was expecting to have an upgrade completed at the end of 2019, but delays in the project have meant that completion is now due late 2020. Positively, the plans have been signed off, planning permission acquired and work due to start in September 2020.

Events

British Schools

The 2020 British Schools were held once again at the English Institute of Sport, Sheffield over two days, 14 & 15 March. The event was a great success with almost 1,000 young athletes representing their schools in the pinnacle National Judo Competition as 77 Schools Champions were crowned.

European Event

It was a busy year for the Events team once again with the Commonwealth Judo Championships heading to the University of Wolverhampton in Walsall in September. This was a frantic five days of competition with over 20 countries represented throughout the week. The event was a great success for everyone involved and managed to produce a surplus for the Association.

British Judo Awards Dinner

British Judo held its annual Awards Dinner on 2 November 2019 at the Crowne Plaza in Nottingham for the second year. The event once again had a large participation, with over 300 guests. This event continues to grow and creates a great atmosphere for the whole judo family.

British Championships

The last events in 2019 were held on both 30 November & 1 December and 8 & 9 December, with an attendance of over 700 and boasted over 500 competitors on the first weekend and almost 350 competitors on the second weekend which included the selection only Seniors event.

Hosted National Events

Other hosted National events were held by regional areas/home nations with support from British Judo. These were the:

- English Open

- National Team Championships

- British Kata Championships

- British Masters Championships

- British Minors Championships

Acknowledgements

In conclusion, British Judo sincerely thanks the members of the Commissions of all disciplines, clubs, coaches, technical officials and all volunteers across the United Kingdom for their hard work and dedication in delivering events and courses throughout the year.

British Judo also formally acknowledges the outstanding support of its funding partners, UK Sport and Sport England and sponsors during the 2019/20 year.

PRINCIPAL RISKS AND UNCERTAINTIES

- A key Reputation Risk to the Association is the damage from a Child Protection Case. A major child protection case is reported by the media making parents and participants seriously question the reputation and safety of judo for children. The Association has undertaken an Independent Review of its processes together with the Annual Review by the CPSU both of which we passed and have implemented almost all of the recommendations within the first few months of completion of the review. We have also signed up to Globocol a new safeguarding reporting process supported by SE. This will ensure that there is standardised management and reporting across a number of NGBs.

- Destination Judo was reduced to 7 hubs plus 2 supported hubs which mitigated some financial risk to the Association and throughout the year the Hubs performed better than expected and produced a small surplus for the year. Regular monitoring and interventions helped create the growth. The programme also began to utilise social media as a form of recruitment which has shown to be more effective than school taster sessions, however there is a belief that a mixture of both will provide a good combination for future growth. Towards the end of March the DJ programme was halted due to the pandemic and this may have a significant risk for the future and restart of the programme.

- The Audit & Risk Committee had requested that a cash flow be created and monitored on a monthly basis to ensure the Association can meet its operating activities and meet its liabilities. Cashflow is updated and monitored on a daily basis and reported to the CEO. A more conservative budget is now being implemented and ensuring stringent monitoring controls are in place.

FUTURE DEVELOPMENTS

Clear objectives have been established for the 2017/2021 cycle. These include raising participation, winning Olympic and Paralympic medals, and ensuring world class Governance and these objectives remain on track despite the 12 month delay of the Tokyo Olympics. Stakeholders (including Sport England) have been consulted and their feedback taken into consideration in presenting a final Strategic Plan to the Board of Directors, which has been approved by the Board of British Judo.

Subsequent to the year end, the board of directors have agreed to perform a members voluntary liquidation of the subsidiary company, British Judo Association Competition and Events Limited. The board concluded that there was no commercial reason to operate the group as separate entities and will benefit from future stream lining of operations.

ON BEHALF OF THE BOARD:

R Saez - Director

29 August 2020

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2020.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2019 to the date of this report.

P C Blewett

G H Campbell

Mrs L M Cusack

N G Fletcher

Mrs M A Grzyb

A I Haffner

Mrs C E Lish

F H Prosser

R Saez

A W D Slade

W G Taggart

R Wilkinson

POST BALANCE SHEET EVENTS

There have been no significant events affecting the group since the year end.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the surplus or deficit of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Sedulo Audit Limited, were appointed during the year and will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

R Saez - Director

29 August 2020

Opinion

We have audited the financial statements of BRITISH JUDO ASSOCIATION(THE) (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2020 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2020 and of the group's surplus for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

-	the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

-

the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the group's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

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

-	certain disclosures of directors' remuneration specified by law are not made; or

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

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page seven, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

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

Raymond Davidson (Senior Statutory Auditor)

for and on behalf of Sedulo Audit Limited

Statutory Auditors

Regency Court

62-66 Deansgate

Manchester

M3 2EN

29 August 2020

TURNOVER

3

5,308,098

5,643,909

Cost of sales

3,168,460

3,322,802

GROSS SURPLUS

2,139,638

2,321,107

Administrative expenses

2,049,044

2,409,741

OPERATING SURPLUS/(DEFICIT)

5

90,594

(88,634

)

Interest receivable and similar income

1,559

1,435

SURPLUS/(DEFICIT) BEFORE TAXATION

92,153

(87,199

)

Tax on surplus/(deficit)

569

701

SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR

91,584

(87,900

)

Surplus/(deficit) attributable to:

Owners of the parent

91,584

(87,900

)

FIXED ASSETS

Intangible assets

8

60,264

82,931

Tangible assets

9

84,134

122,245

Investments

10

-

-

144,398

205,176

CURRENT ASSETS

Stocks

11

-

19,364

Debtors

12

175,230

270,030

Cash at bank and in hand

713,824

203,602

889,054

492,996

CREDITORS

Amounts falling due within one year

13

832,252

588,556

NET CURRENT ASSETS/(LIABILITIES)

56,802

(95,560

)

TOTAL ASSETS LESS CURRENT LIABILITIES

201,200

109,616

RESERVES

Income and expenditure account

201,200

109,616

201,200

109,616

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2020 and were signed on its behalf by:

R Saez - Director

FIXED ASSETS

Intangible assets

8

60,264

82,931

Tangible assets

9

58,051

91,084

Investments

10

-

-

118,315

174,015

CURRENT ASSETS

Stocks

11

-

19,364

Debtors

12

117,722

264,569

Cash at bank and in hand

525,217

149,973

642,939

433,906

CREDITORS

Amounts falling due within one year

13

668,393

567,588

NET CURRENT LIABILITIES

(25,454

)

(133,682

)

TOTAL ASSETS LESS CURRENT LIABILITIES

92,861

40,333

RESERVES

Income and expenditure account

92,861

40,333

92,861

40,333

Company's profit/(loss) for the financial year

52,528

(157,654

)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2020 and were signed on its behalf by:

R Saez - Director

1.	STATUTORY INFORMATION

BRITISH JUDO ASSOCIATION(THE) is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary assets in these financial statements are rounded to the nearest pound.

The principal accounting policies adopted are set out below.

Going concern

In common with virtually every other business in the country, the Company has been experiencing the effects of the Coronavirus pandemic. Whilst the full impact of this exceptional situation on the Company cannot be assessed with complete certainty at the current time, the Directors believe they have taken all possible steps to protect the Company including accessing relevant Government assistance.

At the time of signing these accounts the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Club membership fees

Turnover received from club membership fees is credited to the Income Statement over the period of the membership. Amounts relating to future financial years are included in creditors as deferred income.

Grants receivable

Grants are accounted for under the accruals model with the deferred element of grants being included in creditors as deferred income. Grants relating to expenditure on tangible fixed assets are creditors the Income Statement at the same rate as the depreciation on the assets to which the grants relate.

Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

Ticket sales and event entry fees

Turnover from event ticket sales and events entry fees is recognised when the event takes place.

Sale merchandise

Turnover arising from the sale of merchandise is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyers;

- the company retains neither continuing managerial involvement to the degree usually associated with the ownership nor the effective control over the goods sol;

- the amount of turnover can be measured reliably;

- it is probably that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably

Provision of technical and education services

Turnover from a contract to provide services is recognised in the period in which the service are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably.

- it is probably that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measure reliably; and

- the costs incurred and the costs to complete the contract can be measure reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three to five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities

Basic financial liabilities, including creditors, bank loans and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Other financial liabilities

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

3.

TURNOVER

The turnover and surplus (2019 - deficit) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

31.3.20

31.3.19

£

£

Grant funded income

3,285,367

3,785,271

Membership

673,439

601,719

Technical / Education

290,477

246,613

Other

218,042

133,388

Competition and events

840,773

876,918

5,308,098

5,643,909

All turnover arose within the UK.

Income arises from a range of activities. Within British Judo Association, it is primarily attributable to grants and membership fees. British Judo Association Competition & Events income arises from the sale of merchandise, event registration fees & ticket sales.

Included within Grant funded income is performance grant funding from UK Sport of £2,067,314 (2019: £2,121,856), participation grant funding from Sport England of £810,281 (2019: £1,131,219), talent and other grant funding from Sport England of £267,500 (2019: £337,500), DiSE income of £126,221 (2019: £125,206 and other grants of £14,051 (2019: £69,490).

During the year rebates were paid to the regional areas from membership income totalling £77,947 (2019: £71,448). Starting with the 2020 financial year end, the directors have taken the decision to disclose the rebates as a cost separately in the accounts, however the comparative figures show the rebates as a reduction in the membership income. The total membership income for the year was £673,439 (2019: £673,167).

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2019 - 69 ) .

5.	OPERATING SURPLUS/(DEFICIT)

The operating surplus (2019 - operating deficit) is stated after charging:

31.3.20

31.3.19

£

£

Other operating leases

52,674

76,498

Depreciation - owned assets

43,639

40,296

Computer software amortisation

22,667

6,897

Foreign exchange differences

-

19

6.	AUDITORS' REMUNERATION

Fees payable to the group's auditor for the audit of the annual financial statements totalled £9,150 (2019: £12,500).

7.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

8.	INTANGIBLE FIXED ASSETS

Group

Other

intangible

assets

£

COST

At 1 April 2019

and 31 March 2020

89,828

AMORTISATION

At 1 April 2019

6,897

Charge for year

22,667

At 31 March 2020

29,564

NET BOOK VALUE

At 31 March 2020

60,264

At 31 March 2019

82,931

Company

Other

intangible

assets

£

COST

At 1 April 2019

and 31 March 2020

89,828

AMORTISATION

At 1 April 2019

6,897

Charge for year

22,667

At 31 March 2020

29,564

NET BOOK VALUE

At 31 March 2020

60,264

At 31 March 2019

82,931

9.	TANGIBLE FIXED ASSETS

Group

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2019

170,690

92,198

262,888

Additions

10,570

7,370

17,940

Disposals

(55,139

)

(6,612

)

(61,751

)

At 31 March 2020

126,121

92,956

219,077

DEPRECIATION

At 1 April 2019

106,364

34,279

140,643

Charge for year

14,605

29,034

43,639

Eliminated on disposal

(43,084

)

(6,255

)

(49,339

)

At 31 March 2020

77,885

57,058

134,943

NET BOOK VALUE

At 31 March 2020

48,236

35,898

84,134

At 31 March 2019

64,326

57,919

122,245