Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 **Company Registration No. 02103365 Charity No: 1000698** **Southport Flower Show Charitable Company Limited by Guarantee** **Report and Financial Statements** **For The Year Ended 31 December 2023** Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW** ## **CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **CONTENTS** ||**Page**| |---|---| |Members of the Board and Professional Advisers|2| |Trustees' Annual Report|3 - 8| |Independent Examiner’s Report to the Members|9| |Group Statement of Financial Activities
(incorporating the Income and Expenditure Account)|12| |Group and Charity Balance Sheet|13| |Consolidated Statement of Cash Flows|14| |Notes to the Financial Statements|14 - 32| Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **COMPANY INFORMATION** |**Registered Charity Name**|Southport Flower Show| |---|---| |**Charity Number**|1000698| |**Company Registration Number**|02103365| |**Principal Office**|Southport Flower Show| ||Victoria Park| ||Rotten Row| ||Southport| ||Merseyside| ||PR8 2BZ| |**Trustees**|Mr M L Steinberg| ||Mr R Anderson (Resigned 4 January 2023)| ||Mr A Edwards| ||Mr T J D Fleming (Resigned 8 March 2023)| ||Mrs A P Pope| ||Mrs M Tarpey| ||Mr T Heywood (Resigned 12 January 2023)| ||Mr E P Rylands| ||Mrs H Stalker (Appointed 28 September 2023)| |**Auditor**|MHA| ||Chartered Accountants| ||Richard House| ||9 Winckley Square| ||Preston| ||Lancashire| ||PR1 3HP| |**Bankers**|Santander| ||25-29 Chapel Street| ||Southport| ||Merseyside| ||PR8 1AL| |**Legal advisers**|MSB Solicitors| ||4 St Pauls Square| ||Liverpool| ||L3 9SJ| Page 2 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES ANNUAL REPORT** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** The trustees, who are also directors for the purposes of company law, present their report and the consolidated financial statements of the charitable company and its subsidiary for the year ended 31 December 2023. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (October 2019) ## **Reference and Administrative Details** Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements. ## **The Trustees** The trustees who served the charitable company during the year were as follows: Mr M L Steinberg Mr R Anderson (Resigned 4 January 2023) Mr A Edwards Mr T J D Fleming (Resigned 8 March 2023) Mrs A P Pope Mrs M Tarpey Mr T Heywood (Resigned 12 January 2023) Mr E P Rylands Mrs H Stalker (Appointed 28 September 2023) ## **Key Management** Mr A E Adams (General Manager Structure, Governance and Management Southport Flower Show (hereafter referred to as "the Charity") is a charitable company, limited by guarantee, and was registered with the Charity Commission on 30 October 1990. The Charity is governed by its Memorandum and Articles of Association. The directors of the Charity are also the trustees, for charity law purposes (hereafter referred to as "the trustees"). The trustees, together with certain former trustees, are members of the Charity. In the event of the Charity being wound up, the guarantee of each member is limited to £1. ## **Objectives and Activities** The objects of the Charity are: - To advance education in the subject of horticulture - The promotion, encouragement and improvement of horticulture for the public benefit The principal activities of the Charity during the year, which are carried out for the furtherance of those objects, were: - Maintenance and upkeep of Victoria Park, which is open to the public throughout the year. - Running of various horticultural competitions within the Southport Flower Show event, including the Schools Design a Garden Competition, Show Gardens and Amateur Competitions, detailed below. ## **Public Benefit** The trustees have considered the Charity Commission guidance regarding public benefit and are satisfied that the activities of the charitable company, as outlined below, meet these requirements Page 3 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES ANNUAL REPORT (CONTINUED)** **FOR THE YEAR ENDED 31 DECEMBER 2023.** ## **Achievements and Performance** ## **Southport Flower Show** The Southport Flower Show is the largest independent, annual flower show in Great Britain. This year’s show was held on 17[th] – 20[th] August 2023. Over 50,000 visitors enjoyed 4 days of good weather, food, drink, entertainment, and all things horticulture. There was no specific theme for the 2023 show but the ethos was how horticulture was beneficial for your health and wellbeing. Throughout the exhibits and display gardens, themes and images inspired by the title were used in a creative and entertaining way. Southport Flower Show hosts the largest Amateur competition in Great Britain and our respect and encouragement of the amateur sector is a key factor in Southport Flower Show's uniqueness and helps to further our charitable objectives. This encouragement is also in evidence with the Schools’ Design a Garden Competition. The competition is designed for years 5 and 6 from the Northwest region to encourage them to become more involved with plants and flowers and develop an understanding of gardening at an early stage in life. This year we had a large number of entries from various schools across the Northwest and the two talented winners had their designs built into real gardens at the Show. HSBC Bank was the sponsor of this year’s competition. One of the main attractions of the show is the Grand Floral Marquee where the professional competition is hotly contested. All of these activities are produced to fulfil the Objects of the Charity The Trustees acknowledge the dedication and hard work of Alan Adams and his team for staging an outstanding show under very difficult circumstances considering the poor weather during the year. ## **Volunteers** Over 190 people volunteered in 2023 to help make the show a great success and one of the friendliest in the country. The Trustee Directors wish to record their appreciation for the important role that the volunteer managers and their teams play in the delivery of the show and want to thank all the volunteers who willingly gave their time. Page 4 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES ANNUAL REPORT (CONTINUED)** **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **Achievements and Performance** ## **Victoria Park** Over the years the Southport Flower Show's resources have been used to noticeably enhance and improve Victoria Park as both an events site and as a high quality urban green space. Along with significant capital investment, a great deal of time and effort has transformed the park into a flexible and robust outdoor events site with a power and water grid, improved drainage and a network of interconnected pathways. Throughout the year the park has remained open to the public. It was fully closed for 29 days throughout 2023 for private and council events, keeping open as much as possible for the public to enjoy. Local running and cycling clubs use the park for small, organised events, a diverse range of ad-hoc groups use the park on a regular basis including fitness groups, netball, karate and numerous yoga groups and the public use the park extensively to walk their dogs or simply sit and relax and enjoy their surroundings. A number of these groups have made a small donation to SFS to use the park facilities. A number of third-party lettings of Victoria Park returned in 2023 which increased the revenue for the park such as a Music Festival, Food and Drink Festiva, Modern and Classic Car Shows, Southport Comedy Festival, British Musical Fireworks competition and Ice-Skating Events. Due to extreme weather conditions and poor drainage, the park was victim to flooding this year and the team had to invest in maintenance of some of the drainage system. In addition to this, a new ride-on mower had to be purchased which were not forecasted for at the beginning of the year. The Board would like to thank to the General Manager, Alan Adams, and his team for sourcing new events. The events are managed through the trading subsidiary Victoria Park Management Company (Southport) Ltd. ## **Fundraising practices** Most of the Charity’s income is generated from ticket sales and associated income from Southport Flower Show. Additional income is raised by third party events hiring the park. An invitation to donate to the Charity has now been included on the Southport Flower Show and Victoria Park website and on all staff email signatures. ## **Financial Review** The consolidated results record net outgoing resources of £103,806 (2022: net incoming resources of £193,435). At the end of the year, the Charity general fund stood at £366,962 (2022: £436,847). To the extent that funds are not called upon for the day-to-day activity, they are transferred to a medium-term charity investment account to maximise returns on these funds, although bank deposit rates remain at an alltime low rate of return. The Memorandum and Articles of Association give the Charity unlimited investment powers with statutory boundaries. Page 5 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES ANNUAL REPORT (CONTINUED)** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **Reserves Policy** Given that the main source of funds is an outdoor event which is heavily weather dependent, the trustees maintain the view that it is prudent to have reserves sufficient to safeguard the Charity's operational commitments and allow for a significant drop in revenue from the annual show as a result of inclement weather etc. The reserves also need to reflect the seasonal nature of the business and that income spikes during the months of July and August. The Charity requires sufficient working capital to meet expenditure commitments in the earlier months, prior to the Show when expenditure tends to exceed income. The level of reserves required is estimated at £250,000. Recent years’ results have illustrated the prudence of this policy. The trustees apply the following criteria in determining the overall reserves policy: - 1 The necessity of holding certain reserves and the benefit derived; - 2 The levels of reserves required; - 3 The actions required to maintain the agreed reserves level. Reserves are frequently reviewed by the trustees, together with the management accounts. The actual level of free reserves for the Charity at the end of the year was £366,962, after segregating funds which represent permanent fixed assets. ## **Governance and Risk Review** ## **Trustees' Appointment and Responsibilities** Any new trustees are nominated by the current trustees, taking account of their business skills and experience in line with the specific needs of the board. Induction of trustees is carried out verbally, ensuring that trustees are fully aware of their duties and responsibilities. Trustees are also provided with various up to date literature issued by the Charity Commission regarding their appointment, together with specific background information regarding the Charity. ## **Key Management Personnel** The pay and remuneration of key management personnel is agreed by the trustees with reference to external benchmarks. Page 8 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES ANNUAL REPORT (CONTINUED)** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **Governance and Risk Review** Whilst the trustees appreciate that they are ultimately responsible for the management of the Charity, much of the day to day running of the Charity's operations is delegated to the Charity's employees. As well as appointing a General Manager to deal with management matters and supervision, the trustees are involved in many aspects of the Charity administration as part of the internal control procedures. The trustees normally meet monthly to review the Charity accounts, progress reports, key performance indicators and deal with strategic matters. With the help of the Charity auditors, the trustees have carried out a review of the Charity's activities and identified the major risks to which the Charity is exposed. As part of this process, the trustees have implemented a risk management strategy, which comprises: - A regular review of the risks to which the Charity is exposed - The establishment of procedures and systems to help mitigate the risks identified in the review - The key risks revolved around external factors. Where risks cannot be mitigated fully, the trustees have ensured that adequate insurance provisions are in place, where possible. ## **Trustees' Responsibilities Statement** The trustees (who are also the directors of Southport Flower Show for the purposes of company law) 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 the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group 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 2019 (FRS 102); - make judgements and accounting 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, and - 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 proper 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. Page 7 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 # **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES ANNUAL REPORT (CONTINUED)** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **Auditor** A resolution proposing that MHA Moore and Smalley be re-appointed will be put at a General Meeting. Each of the persons who is a trustee at the date of approval of this report confirms that: - so far as each trustee is aware, there is no relevant audit information of which the charitable company's auditor is unaware; and - each trustee has taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charitable company's auditor is aware of that information. ## August 13, 2024 Signed on behalf of the trustees on .......................................... .............................................................. **M L Steinberg** Trustee .............................................................. **A P Pope** Trustee/Treasurer Registered office: Southport Flower Show Victoria Park Rotten Row Southport Merseyside PR8 2BZ Page 8 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **Opinion** We have audited the financial statements of Southport Flower Show (the 'company') for the year ended 31 December 2023 which comprise the profit and loss account, the balance sheet and notes to the financial statements, including 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 company's affairs as at 31 December 2023 and of its profit 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 _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the company 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** In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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. Page 9 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of our audit: - the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the directors' report has been prepared in accordance with applicable legal requirements. In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the 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 in preparing the directors' report and from the requirement to prepare a strategic report. ## **Responsibilities of directors** As explained more fully in the directors' responsibilities statement, 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so. Page 10 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **Auditor's responsibilities** 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 an auditor's report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. - Enquiries with management about any known or suspected instances of non-compliance with laws and regulations; - Enquires with management about any known or suspected instances of fraud; - Reviewing minutes of meetings of those charged with governance; - Examination of journal entries and other adjustments to test for appropriateness and identify any instances of management override of controls; - Review of legal and professional expenditure to identify any evidence of ongoing litigation or enquiries. - Review revenue transactions around the year end to ensure they have been appropriately recorded in the period to which the revenue relates. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Page 11 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **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 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 company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. .................................................... ## **Nicola Mason (Senior Statutory Auditor)** Senior Statutory Auditor For and on behalf of MHA, Statutory Auditor Preston, United Kingdom August 15, 2024 ......................... MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313) Page 12 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023** |**Income and endowments from:**
**Note**
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
5
Other
6
**Total income and endowments**
**Expenditure on:**
Raising funds
8
Charitable activities
9
Flower show event
Park maintenance
Governance costs
**Total expenditure**
**Net income/(expenditure)**
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Total**
**Total**
**funds**
**funds**
**Unrestricted**
**Year ended**
**Year ended**
**funds**
**31 December**
**31 December**
**2023**
**2022**
**£**
**£**
**£**
**1,697**
**1,697**
**2,954**
**761,929**
**761,929**
**842,614**
**375,572**
**375,572**
**395,181**
**2,351**
**2,351**
**133**
**116,019**
**116,019**
**125,605**
**1,257,568**
**1,257,568**
**1,366,487**
**354,963**
**354,963**
**311,180**
**912,347**
**912,347**
**789,835**
**76,981**
**76,981**
**44,715**
**17,083**
**17,083**
**27,322**
**1,361,374**
**1,361,374**
**1,173,052**
**(103,806)**
**(103,806)**
**193,435**
**(103,806)**
**(103,806)**
**193,435**
**1,069,187**
**1,069,187**
**875,752**
**965,379**
**965,379**
**1,069,187**| |---|---| The Statement of Financial Activities includes all gains and losses recognised in the year. All of the above amounts relate to continuing activities. The notes on pages 12 to 33 form part of these financial statements Page 13 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **BALANCE SHEET** ## **AS AT 31 DECEMBER 2023** |**Note**
**Fixed assets**
Intangible assets
12
Tangible assets
13
Investments
14
**Current assets**
Debtors
15
Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
16
**Net current assets**
**Total assets less current liabilities**
**Creditors: amounts falling due after more**
**than one year**
17
**Net assets**
**Unrestricted funds**
General fund
19
Fixed assets fund
19
Revaluation fund
19
**Restricted funds**
20|**2023**
**£**
**-**
**598,417**
**-**|**Group**
**2022**
**£**
-
632,340
-| |---|---|---| ||**598,417**
**76,356**
**468,524**|632,340
102,609
579,473| ||**544,880**
**(159,675)**|**682,082**
(206,903)| ||**385,205**|**475,179**| ||**983,622**
**(18,241)**|**1,107,519**
(38,332)| ||**965,379**|**1,069,187**| ||**366,962**
**214,286**
**384,131**
**-**|436,847
230,626
401,714
-| ||**965,379**|**1,069,187**| |||| These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. These financial statements were approved by the members of the committee and authorised for issue on August 13, 2024 .............................................. and are signed on their behalf by: .................................................................. .................................................................. M Steinberg A Pope Trustee Trustee/Treasurer Company registration number: 02103365 Page 14 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **CONSOLIDATED STATEMENT OF CASHFLOWS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** **----- Start of picture text -----**
2023 2022
Note £ £
Cash (utilised)/generated by operating activities 25 (87,728) 213,290
Cash flows from investing activities
Investment income 2,351 133
(Purchase)/Disposals of tangible fixed assets (5,481) (408)
Cash (used in)/provided by investing activities (3,130) (275)
(Decrease)/Increase in cash and cash equivalents in the year (90,858) 213,015
Cash and cash equivalents at the beginning of the 541,141 328,126
year
Total cash and cash equivalents at the end of
450,283 541,141
the year
Cash at bank 468,524 579,473
Bank loan (18,241) (38,332)
450,283 541,141
**----- End of picture text -----**
Page 15 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **1 Accounting Policies** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## **Basis of Accounting** The financial statements have been prepared under the historical cost convention as modified by the revaluation of leasehold improvements and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice. The statement of financial activities (SOFA) and balance sheet consolidate the financial statements of the Charity and its subsidiary undertakings. The results of the subsidiary undertakings are consolidated on a line by line basis. No separate SOFA has been presented for the charity alone as permitted by Section 408 of the Companies Act 2006. The parent company’s deficit for the year was £79,365. Southport Flower Show meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. Preparation of the accounts on a going concern basis The trustees are required to assess whether the use of going concern is appropriate, ie whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charitable company to continue as a going concern. The trustees are required to assess whether the use of going concern is appropriate, i.e., whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charitable company to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation of the accounts. The Flower Show in 2023 was run successfully resulting in an increase in the overall reserves of the Charity. The Trustees are confident that they are now in a more sustainable financial position and consider that the preparation of the accounts on a going concern basis is appropriate. Page 16 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS** ## **1 Accounting Policies (continued)** ## **Incoming Resources** Incoming resources represents net amounts, excluding value added tax. Income is included gross of any expenditure and grants received and comprises admissions, site rentals, sponsorship and other related income in respect of activities for generating funds. Grants received are credited to income as they are received except where conditions imposed require amounts to be deferred to future years. Donations from the subsidiary company are accounted for when received. ## **Resources Expended** The resources expended have been analysed between the Charity's main activities and relate to the direct costs of achieving the Charity's objects. Within these costs is an element of support costs, which are allocated on a reasonable and consistent basis from year to year, as described in the notes to the financial statements. The costs relating to the Show have been split between charitable activities and raising funds in proportion to the relative income in charitable activities and other trading. Governance costs consist of necessary running costs for the Charity which do not have a direct impact on its objectives. All costs are accounted for on an accruals basis as they become due. ## **Fixed Assets** ## _**Fixed asset investment**_ Shares held in the charitable company's subsidiaries are shown at nominal value which is not considered to be materially different from the market value. ## _**Tangible Fixed Assets**_ Fixed assets consists of improvements to the Showground on which the Charity originally had a 60-year lease (from 1994) with Sefton Metropolitan Borough Council (SMBC). This lease has been extended by 60 years to 2114. At the end of the lease, the grounds will revert back to Sefton Council. The Charity acquired this lease and certain buildings on the site for nil consideration. These assets are depreciated over the life of the original lease on a straight line basis. Major improvements to the Showground were completed in 1995. These assets are depreciated on a straight line basis over 27 years. During 1999 a separate office building was completed on the Showground, which is depreciated over the remainder of the life of the lease, which is 47 years on a straight line basis. Page 17 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **1 Accounting Policies (continued)** During 2007 the assets included in the leasehold premises were revalued. A valuation was completed in 2014. The value obtained was not significantly different to the value already included in the accounts so the accounts have not been adjusted for this valuation. The current value will be carried forward as deemed cost in the accounts. Individual assets with a cost not exceeding £1,000 are not capitalised but expended in the year they are acquired. ## **Depreciation** Depreciation is calculated so as to write off the cost of an asset less its estimated residual value over the useful economic life of that asset as follows: - Office equipment and Showground fixtures are depreciated on a straight line basis over a period of between 3 and 20 years. - Computer equipment is depreciated on a straight line basis over a period of 3 years. ## **Pensions** The Charity operates a defined contribution pension scheme. Contributions payable for the year are charged in the Statement of Financial Activities. ## **Funds** Unrestricted funds are those funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the company for particular purposes. Designated funds are those earmarked by trustees for specific future purposes and related costs. ## **Critical accounting estimates and areas of judgement** Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## **Critical accounting estimates and assumptions** The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are disclosed below. ## **Valuation of Land and Buildings** See fixed assets accounting policy ## **Critical areas of judgement** There are no other critical areas of judgement in these accounts. Page 18 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **2 Donations and legacies** |Other donations|**Unrestricted**
**Total**
**Total**
**general**
**funds**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
**£**
**1,697**
**1,697**
2,954| |---|---| |Income from donation and legacies was £1,697 (2022: £2,954), and the whole amount was
unrestricted (2021: £674).|| ||| ## **3 Charitable activities** |**Charitable activities**|| |---|---| |Show admissions
Other income
Grant income|**Unrestricted**
**Total**
**Total**
**general**
**funds**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
**£**
**759,244**
**759,244**
840,632
**2,685**
**2,685**
1,982
**-**
**-**
-| ||**761,929**
**761,929**
842,614| Income from charitable activities was £761,929 (2022: £842,614). Income in both years was unrestricted. Page 19 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **4 Other trading activities** |**Other trading activities**|| |---|---| |Trade stands
Catalogues
Car parking
Sundry income
Sponsorship|**Unrestricted**
**Total**
**Total**
**general**
**funds**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
**£**
**292,143**
**292,143**
287,582
**14,403**
**14,403**
16,490
**47,274**
**47,274**
40,463
**3,702**
**3,702**
5,346
**18,050**
**18,050**
45,300| ||**375,572**
**375,572**
395,181| Income from other trading activities was £375,572 (2022: £395,181). Income in both years was unrestricted. ## **5 Income from investments** |Bank interest receivable|**Unrestricted**
**Total**
**Total**
**general**
**funds**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
**£**
**2,351**
**2,351**
133| |---|---| ||**2,351**
**2,351**
133| Income from investments was £2,351 (2022: £133). Income in both years was unrestricted. Page 20 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **6 Other Incoming Resources** |**Other Incoming Resources**|| |---|---| |Hire of facilities
Gain on disposal of tangible asset|**Unrestricted**
**Total**
**Total**
**general**
**funds**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
**£**
**115,941**
**115,941**
125,605
**78**
**78**-| ||**116,019**
**116,019**
125,605| Other income was £115,941 (2022: £125,606) of which £115,941 (2022: £125,606) was unrestrict ## **7 Costs – Basis of Allocation** Costs have been allocated to reflect the activities of the charity as follows: Costs have been split between expenditure relating to charitable expenditure and raising funds based on the levels of income generated from charitable activities and other trading. 1% of employment costs, office expenses and depreciation has been allocated to governance costs within charitable activities. Page 21 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **8 Raising funds** |Show infrastructure
Health and safety
Car park costs
Event costs
Volunteer costs
Hire of equipment
Other show costs
Security
Marketing and promotion
Employee costs
Office expenses and consultancy
Depreciation|**Unrestricted**
**Total**
**Total**
**general**
**funds**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
**£**
**145,348**
**145,348**
130,212
**3,520**
**3,520**
840
**4,045**
**4,045**
1,947
**11,304**
**11,304**
6,184
**487**
**487**
484
**4,474**
**4,474**
1,085
**51,287**
**51,287**
54,990
**10,430**
**10,430**
12,214
**27,398**
**27,398**
19,481
**73,472**
**73,472**
58,397
**9,646**
**9,646**
12,122
**13,552**
**13,552**
13,224| |---|---| ||**354,963**
**354,963**
311,181| The cost of raising funds was £410,178 (2022: £311,181). Cost in both was unrestricted. Page 22 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **9 Charitable activities** |**_Flower show event_**
Competition costs and prizes
Show infrastructure
Health and safety
Car park costs
Event costs
Volunteer costs
Hire of equipment
Other show costs
Security
Marketing and promotion
Employee costs
Office expenses and consultancy
Depreciation
Irrecoverable VAT
**_Park maintenance_**
Repairs and renewals
Vehicle costs
Rates
Utilities
Insurance
**_Governance costs_**
Employee costs
Other employment cost
Audit fees
Accountancy fees
Depreciation
Office expenses and consultancy|**Unrestricted**
**Total**
**Total**
**general**
**funds**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
**£**
**70,274**
**70,274**
39,656
**308,864**
**308,864**
276,701
**7,480**
**7,480**
1,786
**8,595**
**8,595**
4,137
**24,019**
**24,019**
13,141
**1,034**
**1,034**
1,027
**9,507**
**9,507**
2,304
**108,985**
**108,985**
116,853
**24,337**
**24,337**
28,500
**58,218**
**58,218**
41,396
**153,833**
**153,833**
122,322
**23,580**
**23,580**
26,859
**28,505**
**28,505**
27,839
**85,115**
**85,115**
87,314| |---|---| ||**912,347**
**912,347**
789,835| ||**45,488**
**45,488**
16,615
**752**
**752**
2,198
**17,286**
**17,286**
14,635
**3,589**
**3,589**
3,075
**9,866**
**9,866**
8,191| ||**76,981**
**76,981**
44,714| ||**2,297**
**2,297**
1,824
**-**
**-**
12,500
**12,515**
**12,515**
11,620
**-**
**-**
-
**424**
**424**
415
**1,847**
**1,847**
963| ||**17,083**
**17,083**
27,322| ||| ||**1,006,411**
**1,006,411**
861,872| The cost of charitable activities was £1,157,505 (2022: £829,155). Costs in both years was unrestri Page 23 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** |**FOR**|**THE YEAR ENDED 31 DECEMBER 2023**||| |---|---|---|---| |**10**|**Net outgoing resources for the year**||| ||This is stated after charging:|**2023**|**2022**| |||**£**|**£**| ||Depreciation|**42,482**|**41,478**| ||Auditors' remuneration:||| ||- audit of the financial statements (net of VAT)|**10,190**|**9,170**| ||- Independent examination of the accounts||| ||- other fees (see below)(net of VAT)|**2,325**|**2,450**| ## **Auditor's/Independent examiner's fees** The other fees charged by the auditor can be further analysed under the following headings for services rendered: |services rendered:||| |---|---|---| ||**2023**|**2022**| ||**£**|**£**| |Accountancy|**2,450**|2,450| ## **11 Staff Costs and Emoluments** |Wages and salaries
Social security costs
Other pension costs|**2023**
**2022**
**£**
**£**
209,174
186,932
12,589
6,318
9,901
3,407| |---|---| ||**231,664**
196,657| ## **Particulars of employees:** The average number of employees during the year was as follows: |Number of full time staff
Number of part time staff|**2023**
**2022**
**No**
**No**
**2**
**1**
**7**
**7**| |---|---| ||**9**
8| For the majority of the year there are 9 part-time staff. Additional staff are employed for the duration of the Southport Flower Show event. No employee received remuneration of more than £60,000 during the year (2022: Nil). Page 24 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **12 Intangible Fixed Assets** |**GROUP**
**Cost or valuation**
At 1 January 2023
Additions
**At 31 December 2023**
**Depreciation**
At 1 January 2023
Charge in the year
**At 31 December 2023**
**Net book value**
**At 31 December 2023**
At 1 January 2023
**CHARITY**
**Cost or valuation**
At 1 January 2023
Additions
**At 31 December 2023**
**Depreciation**
At 1 January 2023
Charge in the year
**At 31 December 2023**
**Net book value**
**At 31 December 2023**
At 1 January 2023|**Website**
**costs**
**Total**
**£**
**£**
20,000
**20,000**
-
**-**| |---|---| ||**20,000**
**20,000**| ||20,000
**20,000**
-
**-**| ||**20,000**
**20,000**| ||**-**
**-**| ||-
-| ||**Website**
**costs**
**Total**
**£**
**£**
20,000
**20,000**
-
**-**| ||**20,000**
**20,000**| ||20,000
**20,000**
-
**-**| ||**20,000**
**20,000**| ||**-**
**-**| ||-
-| ||| Page 25 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **13 Tangible Fixed Assets** |**GROUP**
**Cost or valuation**
At 1 January 2023
Additions
Disposals
**At 31 December 2023**
**Depreciation**
At 1 January 2023
Charge in the year
Disposals
**At 31 December 2023**
**Net book value**
**At 31 December 2023**
At 1 January 2023
**CHARITY**
**Cost or valuation**
At 1 January 2023
Additions
Disposals
**At 31 December 2023**
**Depreciation**
At 1 January 2023
Charge in the year
Disposals
**At 31 December 2023**
**Net book value**
**At 31 December 2023**
At 1 January 2023|**Leasehold**
**premises**
**Plant &**
**Equipment**
**Total**
**£**
**£**
**£**
1,002,719
306,683
**1,309,402**
9,715
1,266
**10,981**
(5,500)
-
**(5,500)**| |---|---| ||**1,006,934**
**307,949**
**1,314,883**| ||419,845
256,217
**676,062**
31,491
11,991
**43,482**
(3,078)
-
**(3,078)**| ||**448,258**
**268,208**
**716,466**| ||**558,676**
**39,741**
**598,417**| ||582,874
50,466
633,340| ||**Leasehold**
**premises**
**Plant &**
**Equipment**
**Total**
**£**
**£**
**£**
993,345
262,479
**1,255,824**
-
-
**-**
-
-
**-**| ||**993,345**
**262,479**
**1,255,824**| ||414,764
223,466
**638,230**
27,366
11,879
**39,245**
-
-
**-**| ||**442,130**
**235,345**
**677,475**| ||**551,215**
**27,134**
**578,349**| ||578,581
39,013
617,594| ||| Page 26 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **13 Tangible Fixed Assets (continued)** The charitable company's leasehold premises were originally revalued on 1 February 2008 by an external valuer, The Anthony Hill Partnership, Chartered Surveyors. The basis of the valuation was existing use value in respect of the main administration office and stores, and depreciated replacement cost in respect of other ancillary buildings. The infrastructure to the park has been included at historic cost less depreciation. The valuation was reviewed by Eckersley Chartered surveyors during 2014 and it was agreed the values are fairly reflected. The depreciated historic cost of total assets is £530,904. Depreciation charge for the year based on historical cost would have been £14,634. The open market value of the main administration office and stores is considered to be £375,000 compared to the existing use value of £470,000. The reason for the difference is the restrictions placed upon the use of the buildings under the terms of the lease. The trustees are not aware of any material change in value of the above assets. The valuations included above will be carried forward as deemed cost. ## **14 Investments** |**Group**
**_Other investments_**
Shares held in subsidiaries
**Charity**
**_Other investments_**
Shares held in subsidiaries|**Total Funds**
**2023**
**£**
**-**
**Total Funds**
**2022**
**£**
**52**|**Total Funds**
**2022**
**£**
-| |---|---|---| |||**Total Funds**
**2021**
**£**
52| The above investments are shown at the nominal value of shares held by the charitable company in its subsidiaries, Victoria Park Management Company (Southport) Ltd and Southport Events Ltd (which is dormant). A summary of the results for the trading company, Victoria Park Management Company (Southport) Limited is shown below. Page 27 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **14 Investments (Continued)** |**Investments (Continued)**|| |---|---| |**Turnover**
Cost of sales
Gross loss
Administrative expenses
Other operating income
Interest receivable
Operating profit
Tax on profit
Profit for the financial year
Retained earnings brought forward
Distributions to parent charity under gift aid
Retained earnings carried forward|**2023**
**2022**
**£**
**£**
**292,145**
287,584
**(508,257)**
(463,777)| ||**(216,112)**
(176,193)
**(46,557)**
(66,668)
**298,270**
399,280
**-**
-| ||**35,601**
156,419
**-**
-| ||**35,601**
156,419
**157,229**
57,480
**(149,921)**
(56,670)| ||**42,909**
157,229| The reserves and capital of Victoria Park Management Company (Southport) Limited as at 31 December 2023 were a 57,503. ## **15 Debtors** |**Group**
**2023**
**2022**
**£**
**£**
Trade debtors
**57,918**
61,830
Other debtors
**7,759**
54
Prepayments
**10,679**
40,725
Amount owed from group undertaking
**-**
-
**76,356**
102,609|**Group**
**2023**
**2022**
**£**
**£**
Trade debtors
**57,918**
61,830
Other debtors
**7,759**
54
Prepayments
**10,679**
40,725
Amount owed from group undertaking
**-**
-
**76,356**
102,609|**Charity**
**2023**
**2022**
**£**
**£**
**14,087**
52,195
**2,286**
2
**10,391**
14,074
**80,944**
-| |---|---|---| ||**76,356**
102,609|**107,708**
66,271| Page 28 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **16 Creditors: Amounts falling due within one year** |Trade creditors
Taxation and social security
Deferred income
Other creditors
Accruals
Amounts owed to group undertakings
**Deferred income**
**Deferred income as 1 January**
Released from previous year
Income deferred in the year
**Deferred income at 31 December**|**Group**
**Charity**
**2023**
**2022**
**2023**
**2022**
**£**
**£**
**£**
**£**
**11,142**
45,328
**4,443**
6,168
**(3,512)**
52,966
**(3,341)**
2,484
**120,661**
74,033
**73,175**
68,469
**18,921**
6,334
**10,289**
6,263
**12,463**
28,242
**15,615**
31,543
**-**
-
**-**
84,281| |---|---| ||**159,675**
206,903
**100,181**
199,208| ||**Group**
**Charity**
**2023**
**2022**
**2023**
**2022**
**£**
**£**
**£**
**£**
**74,033**
226,364
**68,469**
162,220
**(74,033)**
(226,364)
**(68,469)**
(162,220)
**120,661**
74,033
**73,175**
68,469| ||**120,661**
74,033
**73,175**
68,469| ## **Creditors: Amounts falling due after more than one year** |Other loans|**Group**
**Charity**
**2023**
**2022**
**2023**
**2022**
**£**
**£**
**£**
**£**
**18,241**
38,332
**18,241**
38,332| |---|---| ||**18,241**
38,332
**18,241**
38,332| ## **17 Pensions** The Charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Charity. The total charge for the year was £3,407 (2022: £3,407). Page 29 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **18 Unrestricted Income Funds** |**Unrestricted Income Funds**||||| |---|---|---|---|---| ||**Fixed asset/**|**General**|**Total Funds**|**Total Funds**| ||**Reval Fund**|**Fund**|**2023**|**2022**| |**Group**|**£**|**£**|**£**|**£**| |**Movement for the period**||||| |Balance at start of period|632,340|436,847|1,069,187|875,752| |(Deficit)/surplus for the period|(42,782)|(61,026)|(103,808)|193,435| |Transfers|8,859|(8,859)|-|-| |Balance at the end of the period|598,417|366,962|965,379|1,069,187| |**Analysis of assets and liabilities**||||| |Fixed assets and investments|598,417|-|598,417|632,340| |Current assets|-|544,878|544,878|682,082| |Current liabilities|-|(159,675)|(159,675)|(206,903)| |Creditors due after more than one year|-|(18,241)|(18,241)|(38,332)| |Balance at end of period|598,417|366,962|965,379|1,069,187| ||**Fixed asset/**|**General**|**Total Funds**|**Total Funds**| ||**Reval Fund**|**Fund**|**2023**|**2022**| |**Charity**|**£**|**£**|**£**|**£**| |**Movement for the peiod**||||| |Balance at start of period|616,594|295,360|911,954|818,270| |(Deficit)/surplus for the period|(38,245)|48,680|10,435|93,684| |Transfers|-|-|-|0| |Balance at the end of the period|578,349|344,040|922,389|911,954| |**Analysis of assets and liabilities**||||| |Fixed assets and investments|578,349|52|578,401|616,646| |Current assets|-|462,410|462,410|532,848| |Current liabilities|-|(100,181)|(100,181)|(199,208)| |Creditors due after more than one year|-|(18,241)|(18,241)|(38,332)| |Balance at end of period|578,349|344,040|922,389|911,954| |||||| The fixed asset fund represents the depreciated fixed asset costs incurred to date, equivalent to the net book value of existing fixed assets. This fund is shown separately to designated funds and 'free reserves' since the total does not consist of liquid funds for the general use of the Charity. The revaluation reserve fund is required by the Companies Act 2006 and represents the amount by which investments exceed the historical cost. This is included within the fixed asset fund. Page 30 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **18 Unrestricted Funds (Continued)** |**Unrestricted Funds (Continued)**|| |---|---| |**Prior year**
**Group**
**Movement for the period**|**Fixed asset/**
**General**
**Total Funds**
**Total Funds**
**Reval Fund**
**Fund**
**2022**
**2021**
**£**
**£**
**£**
**£**| |Balance at start of period
(Deficit)/surplus for the period
Transfers
Balance at the end of the period|673,412
202,340
875,752
903,318
(41,478)
234,913
193,435
16,158
406
(406)
-
-| ||632,340
436,847
1,069,187
919,476| |**Analysis of assets and liabilities**|| |Fixed assets and investments
Current assets
Current liabilities
Creditors due after more than one year
Balance at end of period|632,340
-
632,340
760,908
-
682,082
682,082
530,597
-
(206,903)
(206,903)
(109,402)
-
(38,332)
(38,332)
-| ||632,340
436,847
1,069,187
1,182,103| |**Charity**
**Movement for the peiod**|**Fixed asset/**
**General**
**Total Funds**
**Total Funds**
**Reval Fund**
**Fund**
**2,022**
**2,021**
**£**
**£**
**£**
**£**| |Balance at start of period|653,155
165,115
818,270
1,050,448| |(Deficit)/surplus for the period
Transfers
Balance at the end of the period
**Analysis of assets and liabilities**
Fixed assets and investments
Current assets
Current liabilities
Creditors due after more than one year
Balance at end of period|(36,561)
130,245
93,684
(12,100)
-
-
-
-| ||616,594
295,360
911,954
1,038,348| ||616,594
52
616,646
731,590
-
532,848
532,848
409,060
-
(199,208)
(199,208)
(102,302)
-
(38,332)
(38,332)
-| ||616,594
295,360
911,954
1,038,348| ||| Page 31 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **19 Transactions with Trustees** ## _**Expenses**_ Trustees are only reimbursed for expenses incurred during the year on Flower Show business. The total amount refunded in the year amounted to £nil (2022: £nil). ## _**Remuneration**_ No (2022:nil) trustees had an interest in businesses whose services have been used by the Charity during the year. The services have been provided at no greater cost than would have been incurred by using a third party. This arrangement is in line with the Charity's Constitution. No trustees have been remunerated during the year (2021: none). ## **20 Related party transactions** During the year a total of £Nil (2021: £Nil) was paid to companies in which Trustees and parties related to senior management had an interest for services provided to the Charity. The remuneration payable to Key Management Personnel was £65,192 (2022: £52,082). ## **21 Company Limited by Guarantee** Southport Flower Show is a charitable company limited by guarantee. Every member of the charitable company undertakes to contribute to the assets of the charitable company in the event of the same being wound up while he is a member of within one year after he ceases to be a member. This covers payment of debts and liabilities of the charitable company contracted before he ceases to be a member and of the costs, charges and expense of winding up and for the adjustment of the rights of the contributories among themselves, such amount as may be required not exceeding one pound ## **22 Revaluation Reserve** Within the fixed assets fund is a balance relating to the revaluation reserve. The movement on this reserve may be summarised as follows: |**Group and Charity**
Balance at the start of the year
Transfer to fixed assets
**Balance at end of the year**|**2023**
**2022**
**£**
**£**
**401,714**
419,296
**(17,582)**

(17,582)
**384,131**
401,714| |---|---| Page 32 Docusign Envelope ID: 6B2CF128-28FE-4957-9139-688D62798597 ## **SOUTHPORT FLOWER SHOW CHARITABLE COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **23 Reconciliation of net movement in funds to cash flow from operating activities** |Net movement in funds
Depreciation
Interest income shown in investing activities
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash generated by operating activities|**Total**
**Total**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
**(103,806)**
165,429
**40,399**
41,478
**(2,351)**
(133)
**25,258**
69,068
**(47,228)**
(62,552)| |---|---| ||**(87,728)**
213,290| Page 33