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2024-12-31-accounts

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

Company Registration No. 02103365

Charity No: 1000698

Southport Flower Show

Charitable company limited by guarantee Annual Report and Financial Statements

For The Year Ended

31 December 2024

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW CONTENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Members of the Board and Professional Advisors 1
Trustees’ Annual Report 2
Independent Auditor’s Report to the Trustees 6
Consolidated Statement of Financial Activities 9
Balance Sheet 10
Consolidated Cash Flow Statement 11
Notes to the Financial Statements 12

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024

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 (resigned 19[th] August 24) Mr A Edwards (resigned 19[th] August 24) Mrs A P Pope Mrs M Tarpey (resigned 19[th] August 24) Mr E P Rylands Mrs H Stalker (resigned 27[th] April 24) Mr James Brayshaw (appointed 4[th] July 24) (resigned 29[th] October 24) Ms M Hopwood (appointed 4[th] July 24) (resigned 20[th] October 24) Mr A Brown (appointed 4[th] July 24) (resigned 7[th] November 24) Mr S Barnes (appointed 29[th] January 25) Mr P T Hampton (appointed 3[rd] July 2025) Mrs W L A O’Neill (appointed 3[rd] July 2025)

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

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Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024.

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 (resigned 19th August 24) Mr A Edwards (resigned 19th August 24) Mrs A P Pope Mrs M Tarpey (resigned 19th August 24) Mr E P Rylands Mrs H Stalker (resigned 27th April 24) Mr James Brayshaw (appointed 4th July 24) (resigned 29th October 24) Ms M Hopwood (appointed 4th July 24) (resigned 20th October 24) Mr A Brown (appointed 4th July 24) (resigned 7th November 24) Mr S Barnes (appointed 29th January 25) Mr P T Hampton (appointed 3[rd] July 2025) Mrs W L A O’Neill (appointed 3[rd] July 2025)

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 are members of the Charity. In the event of the Charity being wound up, the guarantee of each member is limited to £1.

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.

The pay and remuneration of key management personnel is agreed by the trustees with reference to external benchmarks.

Objectives and Activities

The objects of the Charity are:

The principal activities of the Charity during the year, which are carried out for the furtherance of those objects, were:

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Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

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.

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 15[th] – 18[th] August 2024. Despite the bad weather on the opening day, over 50,000 visitors enjoyed the remaining 3 days of good weather, food, drink, entertainment, and all things horticulture.

The show celebrated their 100[th] anniversary at the 2024 show and whilst there was no theme, 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. Merseyrail 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 impact on the major incident that occurred in the town only weeks before the event.

Volunteers

Over 190 people volunteered in 2024 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.

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 2024 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 and community 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 2024 which increased the revenue for the park such as a Music Festival, Food and Drink Festival, Modern and Classic Car Shows, Southport Comedy Festival, British Musical Fireworks competition and Ice-Skating Events.

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Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Due to extreme weather conditions and poor drainage, parts of the park were victim to flooding again this year and the team had to invest in maintenance of some of the drainage system.

The Board would like to thank 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 incoming resources of £41,365 (2023: net outgoing resources of £103,806).

At the end of the year, the Charity general fund stood at £414,472 (2023: £366,962). 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 all time low rate of return.

The Memorandum and Articles of Association give the Charity unlimited investment powers with statutory boundaries.

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:

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 £414,472, after segregating funds which represent permanent fixed assets.

Risk review

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:

The key risks revolved around external factors. Where risks cannot be mitigated fully, the trustees have ensures that adequate insurance provision are in place, where possible.

Trustees Responsibilities

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).

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Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

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:

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.

Auditor Details

A resolution proposing that MHA be re-appointed will be put at a General Meeting.

September 12, 2025

Signed on behalf of the trustees on ..........................................

.............................................................. S Barnes Trustee

.............................................................. A P Pope Trustee/Treasurer

Registered office: Southport Flower Show Victoria Park Rotten Row Southport Merseyside PR8 2BZ

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Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

Opinion

We have audited the financial statements of Southport Flower Show (the ‘parent charity’) and its subsidiary (the ‘group’) for the year ended 31 December 2024 which comprises the consolidated Statement of Financial Activities, the consolidated Balance Sheet, the consolidated Cash Flow Statement 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:

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 responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity 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 ethical responsibilities in accordance with those 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 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 group and parent 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.

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Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

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:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 5, the trustees 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 trustees 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 trustees are responsible for assessing the group and parent charity’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 trustees either intend to liquidate the group or parent charity or to cease operations, or have no realistic alternative but to do so.

Auditor 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 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 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 these are capable of detecting irregularities, including fraud is detailed below:

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Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

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 non-compliance. 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 for the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

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 MA(Cantab) FCA DChA

Senior Statutory Auditor

For and on behalf of MHA, statutory auditor

Preston, United Kingdom

September 29, 2025

……………..

MHA is eligible to act as an auditor in terms of section 1212 of the companies act 2006

MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)

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SOUTHPORT FLOWER SHOW

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 DECEMBER 2024

----- Start of picture text -----
Total Total
funds funds
Unrestricted Year ended Year ended
funds 31 December 31 December
2024 2023
Income and endowments from: Note £ £ £
Donations and legacies 2 2,085 2,085 1,697
Charitable activities 3 844,246 844,246 761,929
Other trading activities 4 452,163 452,163 375,572
Investments 5 2,870 2,870 2,351
Other 6 115,468 115,468 116,019
Total income and endowments 1,416,832 1,416,832 1,257,568
Expenditure on:
Raising funds 8 352,685 352,685 354,963
Charitable activities 9
Flower show event 935,531 935,531 912,347
Park maintenance 70,073 70,073 76,981
Governance costs 17,176 17,176 17,083
Total expenditure 1,375,465 1,375,465 1,361,374
Net income/(expenditure) 41,367 41,367 (103,806)
Net movement in funds 41,367 41,367 (103,806)
Reconciliation of funds
Total funds brought forward 965,379 965,379 1,069,187
Total funds carried forward 1,006,746 1,006,746 965,379
----- End of picture text -----

All activities are classed as continuing activities. The statement of financial activities includes all gains and losses recognised during the year.

The accompanying accounting policies and notes form an integral part of these financial statements.

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Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

BALANCE SHEET

AS AT 31 DECEMBER 2024

Group Charity
2024 2023 2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 12 - - - -
Tangible assets 13 592,273 598,417 555,894 578,349
Investments 14 - - 52 52
592,273 598,417 555,946 578,401
Current assets
Debtors 15 98,844 76,356 151,727 107,708
Cash at bank and in hand 532,852 468,524 280,678 354,702
631,696 544,880 432,405 462,410
Creditors: amounts falling due within one
year 16 (208,482) (159,675) (85,697) (100,181)
Net current assets 423,214 385,205 346,708 362,229
Total assets less current liabilities 1,015,487 983,622 902,654 940,630
Creditors: amounts falling due after more
than one year 16 (8,742) (18,241) (8,742) (18,241)
Net assets 1,006,745 965,379 893,912 922,389
Unrestricted funds
General fund 18 414,473 366,962 346,741 352,764
Fixed assets fund 18 225,724 214,286 180,621 185,494
Revaluation fund 18 366,549 384,131 366,549 384,131
Restricted funds - - - -
1,006,746 965,379 893,912 922,389

The financial statements were approved by the trustees on…………………………….. and signed on their behalf by: September 12, 2025

av Cope Stuart Darwrs

……………………………………………………….. ….……………………………………………..

A P Pope S Barnes

Trustee Trustee

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Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

CONSOLIDATED STATEMENT OF CASHFLOWS

FOR THE YEAR ENDED 31 DECEMBER 2024

Note
Cash (utilised)/generated by operating activities
22
Cash flows from investing activities
Investment income
Purchase of tangible fixed assets
Cash (used in)/provided by investing activities
(Decrease)/Increase in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the
year
Total cash and cash equivalents at the end of
the year
Cash at bank
Bank loan		 2024
£
94,137
2,870
(23,180)
(20,310)
73,827
450,283
532,852
(8,742)
524,110
524,110		 2023
£
(87,728)
2,351
(5,481)
(3,130)
(90,858)
541,141
468,524
(18,241)
450,283
450,283

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Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting Policies

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 surplus for the year was £124,639.

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.

Going Concern Note

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 2024 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.

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.

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SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1 - Accounting Policies (continued)

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.

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:

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 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.

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SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

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.

2 Income from donations and legacies

Unrestricted Total Total
general funds funds
funds 2024 2023
£ £ £
Other donations 2,085 2,085 1,697

Income from donation and legacies was £2,085 (2023: £1,697), and the whole amount was unrestricted (2023: £1697).

3 Charitable activities

3 Charitable activities
Show admissions
Other income		 Unrestricted
Total
Total
general
funds
funds
funds
2024
2023
£
£
£
840,611
840,611
759,244
3,635
3,635
2,685
844,246
844,246
761,929

Income from charitable activities was £844,246 (2023: £761,929). Income in both years was unrestricted.

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SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024 4 Trading activities

Trade stands
Catalogues
Car parking
Sundry income
Sponsorship		 Unrestricted
Total
Total
general
funds
funds
funds
2024
2023
£
£
£
327,430
327,430
292,143
13,260
13,260
14,403
53,134
53,134
47,274
3,539
3,539
3,702
54,800
54,800
18,050
452,163
452,163
375,572

Income from other trading activities was £452,163 (2023: £375,572). Income in both years was unrestricted.

5 Income from investments

Bank interest receivable Unrestricted
Total
Total
general
funds
funds
funds
2024
2023
£
£
£
2,870
2,870
2,351
2,870
2,870
2,351

Income from investments was £2,870 (2023: £2,351). Income in both years was unrestricted.

6 Other incoming resources

Hire of facilities
Gain on disposal of tangible asset		 Unrestricted
Total
Total
general
funds
funds
funds
2024
2023
£
£
£
115,468
115,468
115,941
78
115,468
115,468
116,019

Other income was £115,468 (2023 £116,019) of which £115,468 (2023 £116,019) was unrestricted.

7 Costs – Basis of Allocation

Costs have been allocated to reflect the activities of the charity as follows:

15

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Costs have been split between expenditure relating to charitable expenditure and raising funds based on the levels of income generated from charitable activies and other trading. 1% of employment costs, office expenses and depreciation has been allocated to governance costs withing charitable activities.

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
2024
2023
£
£
£
131,594
131,594
145,348
3,493
3,493
3,520
5,843
5,843
4,045
12,214
12,214
11,304
262
262
487
5,386
5,386
4,474
54,442
54,442
51,287
12,956
12,956
10,430
24,673
24,673
27,398
77,750
77,750
73,472
15,029
15,029
9,646
9,043
9,043
13,552
352,685
352,685
354,963

The cost of raising funds was £352,685 (2023: £354,963). Cost in both years was unrestricted.

16

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9 Charitable activities

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
Audit fees
Depreciation
Office expenses and consultancy		 Unrestricted
Total
Total
general
funds
funds
funds
2024
2023
£
£
£
101,908
101,908
70,274
279,642
279,642
308,864
7,421
7,421
7,480
12,415
12,415
8,595
25,955
25,955
24,019
558
558
1,034
11,447
11,447
9,507
115,690
115,690
108,985
30,231
30,231
24,337
52,429
52,429
58,218
162,827
162,827
153,833
31,611
31,611
23,580
19,117
19,117
28,505
84,280
84,280
85,115
935,531
935,531
912,347
33,248
33,248
45,488
2,393
2,393
752
19,320
19,320
17,286
4,806
4,806
3,589
10,306
10,306
9,866
70,073
70,073
76,981
2,429
2,429
2,297
13,994
13,994
12,515
285
285
424
468
468
1,847
17,176
17,176
17,083
1,022,780
1,022,780
1,006,411

The cost of charitable activities was £1,022,780 (2023: £1,006,411). Costs in both years was unrestricted.

17

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10 Net out-going resources for the year

This is stated after charging: 2024 2023
£ £
Depreciation 28,445 42,482
Auditors' remuneration:
- audit of the financial statements (net of VAT) 13,994 10,190

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:
2024 2023
£ £
Accountancy 2,600 2,450

11 Staff Costs and Emoluments

Wages and salaries
Social security costs
Other pension costs
Particulars of employees:
Number of full time staff
Number of part time staff
The average number of employees during the year was as follows:		 2024
2023
£
£
204,430
209,174
14,620
12,589
3,774
9,901
222,824
231,664
2024
2023
No
No
2
2
7
7
9
9

For the majority of the year there are 7 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).

18

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

12 Intangible fixed assets

GROUP
Cost or valuation
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge in the year
At 31 December 2024
Net book value
At 31 December 2024
At 1 January 2024
CHARITY
Cost or valuation
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge in the year
At 31 December 2024
Net book value
At 31 December 2024
At 1 January 2024		 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
-
-
-
-

19

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13 Tangible fixed assets

----- Start of picture text -----
Leasehold Plant &
GROUP premises Equipment Total
£ £ £
Cost or valuation
At 1 January 2024 1,006,934 307,949 1,314,883
Additions - 23,180 23,180
Disposals - - -
At 31 December 2024 1,006,934 331,129 1,338,063
Depreciation
At 1 January 2024 448,258 268,208 716,466
Charge in the year 25,086 4,238 29,324
Disposals - - -
At 31 December 2024 473,344 272,446 745,790
Net book value
At 31 December 2024 533,590 58,683 592,273
At 1 January 2024 558,676 39,741 598,417
Leasehold Plant &
CHARITY premises Equipment Total
£ £ £
Cost or valuation
At 1 January 2024 993,345 262,479 1,255,824
Additions - 875 875
Disposals - - -
At 31 December 2024 993,345 263,354 1,256,699
Depreciation
At 1 January 2024 442,130 235,345 677,475
Charge in the year 25,086 (1,756) 23,330
Disposals - -
At 31 December 2024 467,216 233,589 700,805
Net book value
At 31 December 2024 526,129 29,765 555,894
At 1 January 2024 551,215 27,134 578,349
----- End of picture text -----

20

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

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

2024
£		 Group
2023
£		 2024
£		 Charity
2023
£
Other investments
Shares held in subsidiaries - - 52 52
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		 2024
2023
£
£
326,505
292,145
(450,511)
(508,257)
(124,006)
(216,112)
(65,366)
(69,135)
287,474
320,926
-
98,102
35,679
76
-
98,178
35,679
42,987
157,229
(28,341)
(149,921)
112,824
42,987

21

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

15 Debtors

2024
£
Trade debtors
74,616
Other debtors
16,250
Prepayments
7,978		 2024
£
Trade debtors
74,616
Other debtors
16,250
Prepayments
7,978		 Group
2023
£
57,918
7,759
10,679		 2024
£
-
6,944
7,416		 Charity
2023
£
14,087
2,286
10,391
Amount owed from group undertaking
-		 - 137,367 80,944
98,844 76,356 151,727 107,708

16 Creditors: amounts falling due within one year

Group
Charity
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		 2024
2023
2024
2023
£
£
£
£
10,920
11,142
10,116
4,443
26,883
(3,512)
3,174
(3,341)
115,377
120,661
40,270
73,175
22,924
18,921
20,664
10,289
32,378
12,463
11,473
15,615
-
-
-
208,482
159,675
85,697
100,181
Group
Charity
2024
2023
2024
2023
£
£
£
£
120,661
74,033
73,175
68,469
(120,661)
(74,033)
(73,175)
(68,469)
115,377
120,661
40,270
73,175
115,377
120,661
40,270
73,175

Creditors: Amounts falling due after more than one year

Other loans Group
Charity
2024
2023
2024
2023
£
£
£
£
8,742
18,241
8,742
18,241
8,742
18,241
8,742
18,241

22

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

17 Pension contributions and commitments - defined contribution money purchase pension plans:

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 £3,744 (2023: £3,407)

18 Unrestricted Income Funds

Fixed asset/ General Total Funds Total Funds
Reval Fund Fund 2024 2023
Group £ £ £ £
Movement for the period
Balance at start of period 598,417 366,962 965,379 1,069,187
(Deficit)/surplus for the period (29,324) 70,689 41,365 (103,808)
Transfers 23,180 (23,180) - -
Balance at the end of the period 592,273 414,472 1,006,744 965,379
Analysis of assets and liabilities
Fixed assets and investments 592,273 - 592,273 598,417
Current assets - 631,696 631,696 544,878
Current liabilities - (208,482) (208,482) (159,675)
Creditors due after more than one year - (8,742) (8,742) (18,241)
Balance at end of period 592,273 414,472 1,006,745 965,379
Fixed asset/ General Total Funds Total Funds
Reval Fund Fund 2024 2023
Charity £ £ £ £
Movement for the peiod
Balance at start of period 578,349 344,040 922,389 911,954
(Deficit)/surplus for the period (22,455) (6,022) (28,477) 10,435
Transfers - - - -
Balance at the end of the period 555,894 338,018 893,912 922,389
Analysis of assets and liabilities
Fixed assets and investments 555,894 52 555,946 578,401
Current assets - 432,405 432,405 462,410
Current liabilities - (85,697) (85,697) (100,181)
Creditors due after more than one year - (8,742) (8,742) (18,241)
Balance at end of period 555,894 338,018 893,912 922,389

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.

23

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

18 Unrestricted funds

Prior year

Group
Movement for the period
Balance at start of period
(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
Charity
Movement for the peiod
(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
Balance at start of period		 Fixed asset/
General Total Funds Total Funds
Reval Fund
Fund
2023
2022
£
£
£
£
632,340
436,847
1,069,187
875,752
(42,782)
(61,026)
(103,808)
193,435
8,859
(8,859)
-
0
598,417
366,962
965,379
1,069,187
598,417
-
598,417
632,340
-
544,878
544,878
682,082
(159,675)
(159,675)
(206,903)
-
(18,241)
(18,241)
(38,332)
598,417
366,962
965,379
1,069,187
Fixed asset/
General Total Funds Total Funds
Reval Fund
Fund
2023
2022
£
£
£
£
616,594
295,360
911,954
818,270
(38,245)
48,680
10,435
93,684
-
-
-
-
578,349
344,040
922,389
911,954
578,349
52
578,401
616,646
-
462,410
462,410
532,848
-
(100,181)
(100,181)
(199,208)
-
(18,241)
(18,241)
(38,332)
578,349
344,040
922,389
911,954

24

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

19 Related parties transactions and trustees expenses and remuneration

Trustees’ remuneration and benefits

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 (2023: £nil).

Remuneration

No (2023: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 (2023: none).

Related party transactions

During the year a total of £Nil (2023: £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 £63,845 (2023.: £65,192).

20 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

21 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 the end of the year		 2024
£
384,131
(17,582)
366,549		 2023
£
401,714
(17,582)
384,131

25

Docusign Envelope ID: 04C62990-CD17-4F15-A2CC-AE198B3FF53F

SOUTHPORT FLOWER SHOW

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

22 Reconciliation of net movements 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
2024
2023
£
£
41,365
(103,806)
29,324
40,399
(2,870)
(2,351)
(22,489)
25,258
48,807
(47,228)
94,137
(87,728)

26