Kent
County
Agricultural Society
KENT COUNTY AGRICULTURAL SOCIETY
{A company limited by guarantee}
(Company No. 2556508. Charity No. 10011911
Patron.. HIS ROYAL HIGHNESS THE DUKE OF KENT, KG
Chairman.. JAMES PETER FORKNALL
Trustees, report and financial statements
for the year ended 30 September 2020
KENT COUNTY AGRICULTURAL SOCIETY
KENT SHOWGROUND
DETLING
MAIDSTONE
KEKr
ME14 3JF
Tel: 01622 S30975

KETrif COUNTY AGRICULTURAL SOCIETY
IA company limitod by guarnntee)
Contents
Page+
Tru8tees' report
Trustees. responsibilitie5 Statement
11
Independent audltors. report on the financlal statements
12-14
Consolldated staternont of finaft¢l•l actlvEtS8s
15
Consolldated balancè 8h••t
16
8ocioty balance sheet
17
Con*olldat•d stat8m•nt of c•sh flows
18
Not•s to the fln•nGlal stat•m•nts
19-42

KENT COUNTY AGRICULTURAL SOCIETY
(A company limited by guarantoel
Tru5tees' report
for the yBar ended 30 September 2020
Reference and administration details of the Society, its Trustees and advisors
Name
The full name is Kent County Agricultural Society. The Society is exempt from the requirement to use the word
'Limited° in ils lille.
Reglstratlon numbe
The Society i¥ registered as a charity under number 1001191 and as a limited company under number 2556508.
Patron
HIS ROYAL HIGHNESS THE DUKE OF KENT. KG
Presldent
Imlliam Boscawen
Chalrman
James Peter Forknall
TTUStO09
Mr J Forknall, Chaiman
Mr R J Barnes, Vice Chairman
Mr H Summerfield FCA, Honorary Finance Dlrector
Mrs M Anthony (resigned 14 February 20201
MrAD Barr
Mr T Cathcart
Mr T J Coultrip
Ms S Durling
Mr S Gibbons
Mrs G Hickmott
Ms J A Loraine lappoinled 14 February 2020}
Mr C Tassell
Address of reglstsrod office
Kent Showground
Delling
hhaidslone
Kent
ME14 3JF
Page 1

KEKf COUNTY AGRICULTURAL SOCIETY
{A company limited by guaranteo)
Trustees. report {continuedl
for the year ended 30 September 2020
Advisors:
Independent audito
Kreston ReBves LLP
statutory Auditor
37 St Margaret's Street
Canterbury
Kent
CT12TU
Bankers
Barclays Bank Pl
13 Fremlin Walk
Maidstone
Kent
ME14 1QG
Sollcitor5
Brachers LLP
59 London Road
Maidslone
Kent
ME16 TVH
Investment managers
Cazenove & Co
12 Moorgate
London
EC2R 6DA
Pa9e 2

KENf COUPITY AGRICULTURAL SOCIErY
IA company limited by guarantoel
Trustees. report Icontinuedl
for the y6ar •nded 30 September 2020
Narrative informatlon
Struthire. govgmance and management
Constltution
The Society ll% a company limrted by guarantee and dees not have a Sha￿ capital. It was incorporated on 8
November 1990, and its goveming d￿Urnents are the Memofandum and Articles of Association as amended on
7 October 2011.
The liabil-ty of M￿berS is limi(ed lo a Ma￿muM £1 each in the event of a wnding up resulting in a deficii. In the
evenl of a winding up produeing a surplus, that surplus must be donated to another charity having simitar
objedives.
The SO¢￿ vras fomied to take over the undertsking and assets of the unincorporated association of the same
name which had for many years pre￿U$￿ held the annual Kent County Show and this took pla￿ on 29 January
1991.
Subsldlary companles
At 1 Oelober 2019 and 30 Sept￿ber 2020, Kent C(wnty Agricullural Society had four wholty owned
subsidiaries..
Kent Event and Exhibition Centre Limited:
This subsidiary carries out those actiwts.es that wouhj not be exercised in carying out the primary
purposes of the Kent County Agricullura Stxtety, being the hire of the sh(hvground.
Why Farnilng Mattèrs in Kent Llmitad:
This c￿npary has rwoined domiant throughout the year lo 30 Sept￿nber 2020.
Farm Expo Limited:
This company has remained dormant throughout the year to 30 September 2020.
Blddond8n Tractorfest Limited:
This Gompany was incorporated ￿ 20 December 2019 and has ￿mained domwnt throughout the yearto
30 Septernber 2020.
Further details are set out in note 20 to these aecounts.
The objects and policies
Vision Statement
To be the l&ading county sh(hv and event venue in the Soulh East of England.
Objeclives
to deliver our tharilable ofyectNes eff￿￿ety. pUbl￿LSe our actrvitses and engage a broad network of
support
to ensure the Society remain5 ffinan￿￿ty sustainable with *lequate reserves
to support our staff to be a highty skilled and effe(*ve team
lo ensure year on year grrhvth through the provision of a high quality, good value experience at all uur
events
lo inspire and educate young people whilst engaging a wider audien￿ in agriculture the countryside
Page 3

KENT COUNry AGRICULTURAL SOCIErY
IA company limitgd by guarantge)
Trustees. report Icontlnuedl
for the year ended 30 September 2020
The objects and pollcles lcontlnugdl
The objects and policies are Sel out in the Memorandum of Assttiation as being..
the improvement of agTicuKure, forestry, horticuhure, allied industries. rural craft and the breeding of
IwestDck
the demonslralion of impToved methods and processes connecte¢J with the above
the holding of an annual show for the exhibrf(ion of livestock, equines, fami produce. horticultural produce.
Tnachinery. implements, tools. appliances, utensils, animal feeding stuffs, fertilisers, seeds and other
things connected wth or appertaining lo agriculture
the encouragement of agricultural and horticultural education, research and experimental work by
publications. grants or other means
to promola such other charitable measures as the Company may from lime to time deterniine
The w5ion that shape5 our annual actNities remains the promotion and improvement of agriculture by the
prowsion of facilities for the education and recreation of the public and to support and enhance the practices of
the famiing community.
In shaping our objectives for the year and planning our actNrf(ies the Trustees have considered the Charity
Commission's guidance on public benefit. The running of the annual Kent County Show relies on the income
generated by the subsidiary trading wmpany. Affordabilrty and access to the Kent County Show is important to
the Society and is considered Careful￿ when selting entrance fees.
The strategies employed to achieve the Societys aims and objectives are to..
present a broad range of displays, entertainment and competition al the annLJal Kent County Show and to
nurture links with the widef community through sponsorship opportunities and the presentation of
agricultural long serw¢e awards
invite every primary school in Kent lo the annual educational show, Living Land
award prizes, funding and butsaries to students following courses of study in keeping with the obl￿ts of
the Society and to foster relationships with them during this lime and beyond
Support the Kent Young Farmers Clubs particularty with the running of livestock classes at the annual Kent
County Show bul also through awards and financial support during the year
maintain links and develop relat￿nshIpS with rural colleges in the South East to fully understand the needs
of today's rural students and enlranls into the agricultural industry in order to best support them
demonstrate the latest in agricultural methods and machinery and host debates on up lo date topics
through the holding of an annual Farm Expo
encourage interest and knowledge in agriculture by sponsorship of the Kent Ploughing Championships
and attending ploughing matches with an educational display
enhan￿ the funds generated by the subsidiary by maximising in￿rne and managing wsts
To pul these strategies into action we have three major area5 of actNty which are..
edLJcalional and ree￿atIonal events including the Kent County Show, the Heritage Transport Show, LNing
Land, Farm Expo and Biddenden Tractorfest
educational programmes incjuding awards, grants and bursaries
increasing public awareness of famiing in Kent through ne￿Orking, ao*rtising and.publicalton.
Board response to the Covid-19 pandemic
Following the national thkdown in March the board responded by setting up a 'CoMd-19 Task and Finish Group,
as a subgroup within the boaTd. It was mandated by the full board at their meeting in June. Ils purpose was to
undertake strategic d8cisions in r8lalion to a revi8w and if n8cessary, restructure of th8 organisalion.
An independent review was carried out by Alluxi Consulting during June and July and identifi'ed the need lo carry
out a restructure in response lo the Ios5 of revenue from cancelled events ancl shows as the irnpact of the
pandemic es￿lated.
Thej Covid-19 Task and Finish Group worked to identty where resource and cost savings could best be deployed
lo deliver plans to take the organisalion through the following 12-18 months and ensure its suslainabilty.
Page 4

KENT COUNTY AGRICULTURAL SOCIErY
IA company lirntted by guarant901
Trustees. report Icontlnuedl
for thg yoar endod 30 September 2020
Board response to the Covid-19 pand8mi¢ Icontinuedl
During this lime, the Government Fudough Scheme was used to the benefit of the Society whilst retainin9 Staff lo
ensure the day-t￿aY operation was able to continue wthin the imposed govemmont re81riction8.
The reslruclure process look place during September and October and resurted in a reconfigured staff team that
went live on 1 November. It is designed lo provide the Operational skill sel and expertise n8C8ssary for the future
wrth the managerial support lo ensure effacttva deliv8ry. HR adV￿e was provided by Outsel, an HR company
based in Maidstone.
The organlsatlon
The organisation of the SoC￿ty is as follows..
The executive board of Diffjclors, who are also Trustees, exercise th8 g&ngral control and managem8nl',
The council acts in an advisory capacity lo the Directors on matters affecting pollGy and general management,.
One standing committee, known as the Show Committee. together with variou8 advisory sub eommittees. assist
the Diroclors wlh the operations of various departments of the annual Kent County Show and other specific
activities.,
The day lo d3y management generally is delegated lo three board member8 who are 8UPPOrted by th8 sgnior
management team.
Tru8tae recruStment, Inductlon and tralnlng
The Trustees continue lo seek lo identify su(£able Indiwduals with an understanding of the agricultural and rural
community andlor event and èxhibition experience with a view to seNing on the board. The Trustees all have
particular and relevonl skills which enable them lo contribute lo the work of the Society. Their knowledge of good
practice, change8 in legislation and technical issues is supplemented by publiealions i8sued by the Charity
Commi$¥ion and other relevant organisalion8 and attendancg 81 appropriate conferences and trainings. New
Trustees are provided wf(h detailed background infomialion about the Society, copies of the conslrtulion of the
Society, Current financlal data and other documents relevant lo the oparallon ol the Soclety.
Pay pollcy for Senlor stsff
The Trusteès considgr the board of Directors, who are the Truste8s. and the senior management team comprise
the key management Pofsonnel of the Society in chargè of directing and controlling, running and operating the
Society on a day lo day basis. All Trustees give of their lime freely and no Trustee receNed remuneration in the
year. Details of Trustees, expenses and related party transactions are disc105ed in notes 12 and 31 to the
accounts.
The pay of senior staff is reviewed annually and normally increased in accordance wlh average earnings. In
order to ensure appropriate pay levels, the TnJsle$ in$lrucled an independent HR prolessional lo beneh mark
the remuneration in 2014 and may consider annually the need to repeal this proce88.
R•strtctlons on methods of operatlon
The constllution imposes no restriction$ on the Soci8ly's method of operation.
Pag8 5

KENT COUNTY AGRICULTURAL SoCI￿y
IA company Ilmitgd by guarant991
Trustees. report Icontinuedl
for the year ended 30 Septernber 2020
Achlevements and perforniance
Sadty, due to the restrith.ons arising from the Cow&19 pandemic, the Sfxiety had lo make the decisK)n to cancel
the 91st Kent County Show due to be hehj on 10. 11. 12 Jufyf 2020.
The Society was already a long way into the preparation, vith tickets on sale, trade stands booked along with
much of the servi￿$ and entertainment lined up.
Everyone who requested a refund was granted one. Some trade 51and5 agreed lo hold their payment Dver for
use against th& 2021 show. The SocEty had paid deposits for many of the semces required for the show and
these deposits were lost. Some contracted seMce$ Iwed Can￿lIatiOn fees and ail of these were challenged by
the team and were in rnany cases reduced and a small amount were waived.
Despite this, we still celebrated the show ￿th a small tractor run and an equine pleasure ride in conjunction wi(h
the British Horse SOc￿ty and also maintained our posrtion on S￿la1 modia channels.
OUT second Fami Expo was held pre£ovid on 4 March and built on the success of the inaugural show wrth a
similar number of Irade stands and visitors lo the prewous year. The series of s￿inar$ were topical and well
attended.
The Heritage Transport Show due lo be held on 4th April was not abte lo go ahead due to CovT&19.
The Ltwng Land event that has alTeady hdped to educate SO,OLKs primary school chiklren from Kent about
food, famiing and the countryside was also unable to go ahead. Hcwever. remained in contad ￿￿th schools,
Young Fanners Clubs and exhibitors during this time.
The Society had formed a relationsh(p ￿￿th the organiseTS of the suceessful Biddenden Traclorfest and had
agreed lo assist with the running of the 2020 event on 1 5th & 16th August al the original location in Biddenden.
However, as with the other SocEty events, this was nc* able to go ahead. A smail 5cciaily distanced tractor run
and car run was held lo mark the ctcasion.
The Kent Rural Scholars prcMJramme has ncw been running long enough for the first scholars to have graduatedl
Despite Covid-19. ZCKJM inleTviews were hetd for the 2020r21 applicants and 2 new scholars joined the scheme.
The society is grateful to genercxjs don¢)rs who enab￿ thi% lo continue lo grow in these drfficuli times.
The Societys wholty owned subsidiary, the Kent Event and Exhibrtion Centre Limited, undertook a￿angeMentS
for the use ofthe showground by various third wties.
The abilty lo let the showground was severely curtailed wth the imposed Lockdown and other govemment
restrictions on mass gatherings and social dislancing requirements. However, the leam have worked hard to
achieve the Good lo Go" Covhd Compliance mark and to work with existing clients ￿thIn the nv•V guideline5 and
to attr¥l drfferent types of hire suth as hybrid conferencing clients and film bxabon wor
Many events have been postpon￿ to 2021 bul in 2020 the sh¢xgrouTrJ rentals vrtre understsndabty down by
£583.525.
The surplus achieved from these actmties wfil be donated to the Scciety by means of a grft aid payrnerrt.
As can be appreciated from these financial slatements and those of previous years. the income from the Kent
Event and ExhIb￿on Centre Ltmited continues to be paramount to the financi￿ stability of the Kent County
Agricultural Society.
The major financial resutts of the group are d*iled in the attachod statements of financial aCtiV￿eS and balance
sheets, toaether with the notes to the financial statements. In the year ended 30 September 2020 the group
suffered a defiut of unrestricted income over expenditu￿ WO￿ investrnent gains of losses and taxation of
£54.54412019". £73.8231 a5 reported on page 15. After realised gains on In￿Str￿ent disposals and unrealis&J
gains on investment market wdlue fflOve￿￿t. the group deficit was r￿lUced to £50,22212019". £10,220).
Page 6

KE￿ COUNTY AGRICULTUIiAL SOCIETY
(A company limitgd by guarant901
Trustees. report (continued)
for the year ondod 30 Septgmbgr 2020
Educational awards
Many of our usual methods of pursuing the Societys charitable objectives were not available lo us due lo the
effects of the pandemic.
We were unable lo hold the Kent County Show and this also meant the support given to other organisalions
such as the Kent Young Farmers Clubs. Kent Federation of Horticultural Soci81ies, the Kent Bee Keepers
and others was not able lo be prowded.
The Swiety provided benefit to the local communtty at the beginning of the fin8ncial year by giving a lolal of
£8.921 to Young Farmers Clubs in Kent to support their aclivilie8. The plovghing matches did not go ahead and
so our sponsorship was not required.
The Hooson Award was not presented this year bul the Lady Astor Award went lo Olly Slw from Mount Lodge
Young Famiers Club.
The Socrety 18 in the frfth year of 8 bursary scheme in whieh bursaries of £1,000 per year are awarded to Kent
based studénts following courses In keeping with our gbjeclives for up lo three years of their course of study.
Students are invited annually to apply for the bursaries which are limited lo three new students per year. The
lolal paid lo the Rural Scholars to date is £34,000 with £9.000 being paid in 202012019.. £1 D,aOOI.
We continue lo support the Kent Federation of Horticultural Societies wth equipmanl storage al the sh¢)wground
and the Kent Bee Keepers Associations with meeting facilitie5 through the year.
Investment powors and pollcy
The Society's investment powers are set out in the Memorandum of Associallon and are lo inve$l the money3 of
the company not immediately required for the furtheranc8 of its objgclives in or upon such inveslmenls,
securities or propety as may be thought fil, subject nonetheles8 to such condition8 lif any) and such eonsenlg lif
any) as may be imposed or ￿qUired by law..
The Society's investment policy is ba8&1 on professional advlce and is to invest lo produce short term income
and capital appiecialion wlth long term capttsl protection.
The income generated from listed investments in the year amounted to £7,545 12019.. £7,780} which is in line
with the investment objectives. The listed investments have achievgd a capital growth in line with the investment
policy.
Flnanclal rwlew of the subsldlarles
The financial conlTibulion mad& by the subsidiary Kent Event and Exhibition Centre Limrfted, through its gift aid
payment wll be £37,558 12019.. £390,980} representing the surplus made from ils activities. This surplus wa$
achieved after the Society had made proper charges for the use of the showground and for all staff and other
facilities Used by the subsidiary.
The subsidiarie$ Why Farming Matters in Kent Limited, Fam) Expo Limited and Biddenden Tractorfesl Limited all
remained domianl throughout the year.
Page 7

KENT COUNTY AGRICULTURAL SOCIETY
{A company Ilrnited by guardnteel
TfUSteo$' report {continuedl
for the year ended 30 September 2020
Flnanclal revlew of the Society
2020 has been an atypical year for the Society due lo the Pgndemic curtailing our usual aclivrties. As such, we
are unable to report on the results of the Kent County Show.
The Society produced gross income of £621,239 {2019'. £1,182,974) and incurTed direct costs lex¢luding support
costs) of £105,247 (2019.. £1,412.D831 to gwe a gross surplus of £515,992 12019.. gross deftcit of £229,109>.
Society SLJPPOrt costs as reported in note 10 amounted to £548,28312019". £865,921). This produced an overall
deficit for the Society of £32,291 12019.. £1,095,030).
During the year the Society continued lo moniloT and update a detailed risk asses5rnent programme with
professional consullanls engaged to assist with meeting ils obligations in this respect.
Key perforrnance indicators
The Trustees are of the opinion that the following are key performance indicators of the group..
Level of annual corporate gift aid from Kent Event and Exhibition Centre Limited to the Society
During the year ended 30 September 2020. Kent Event and Exhibiiion Centre Limited pledged lo donate
£37,55812019.. £390,980)
Visitor numbers to the Kent County Show
The 2020 Kent County Show was unable to be held due lo Cowd-19. The 2019 Show achieved visitor
numbers of circa 78,000
Trade stsnd revenues
During the year ended 30 September 2020, trade sland income for the Kent County Show was refunded
due to cancellation of the show12019.. £288.7291.
Reserves policy
The Society is implementing a long-lerm policy Its increase reserves ￿1th1n the general unrestricted fund to
safeguard the Society against the absence of budgeted income resulting from adverse weather conditions
affecting the Kent County Show attendance.
The Society holds lolal unreslficted reserves at 30 September 2020 of £3,525.886 12019= £3,576,108) of which
£2,804,394 12019.. £3.139.1721 has been designated as representing the tangible fixed assets of the Society,
less the associated borrowings., £35.971 (2019." £36,471) which is represented by listed investments and has
been designated to meet the wishes of the testators and £2,16012019.' £2,171) which ts represented by cash as
designated by the Trustees lo rneet the wwshes of the donors. Thefefore, general unreslricled reserves at 30
September 2020 amounted to £683.381 {2019'. £398,294).
The directors have agreed to invest a proporbon of the proceeds from the sale of the campsite.
To reach an even greater level of comfort, the Trustees aspired to achieve general unrestricted reserves of
£600.000. This was achieved at the end of the current financial year following the sale of the Scragged Oak
Caravan Park. The Trustees are satisfied that the ￿1 of reserves held are sufficient to safeguard the Society in
the currerrt economic climate for the foreseeable future.
Fixed assets
In the opinion of the Trustees the Wdlue of the freehold land and buildings substantially in excess of ils written
down value.
Page 8

KEKf COUNTY AGRICULTURAL SOCIETY
IA eompany Ilmlted by guarantee)
Trustees. report (conllnued)
for the year ended 30 Septemb8T 2020
Principal rlsks and uncertalntles
The Trustees are aC￿elY aware of the need to identify and manage risks and implement a risk management
Strategy with advice from a professional safety consultant which comprises..
an annual review of the principal risks and uncertaintie5 faced by the Society, its subsidiary Kent Event
and Exhibition Centre Limi(ed and the Society events, the Kent County Show, Farm Expo, Heritage
Transport Show and Living Land.,
the establishment of policies, systems and procedures Éo mitigate those risks identrfied in the annual
review., and
the implemenlalion of procedure8 desyned to minimise or manage any potenlial impact on the Society
should th￿e risks materialise.
Attention has been given lo non-financial risks arising from events such a5, but not exclusDiely, fire. heatth and
safety of the public, animal heatth hazards and food and hygiene issues. These risks are managed by ensuring
accreditation is LJP to date and by having robust policies, prowlures and risk assessments in pla￿ which a
detailed in the Health and Safety Policy and supporting documents. The Society is in regular contact WTth the
safety consuttant throughout the course of the year.
This work has also identffied that adverse weather or traffic incidents over the peTiod of the Kent County Show
Can have a severe affect on visitor numbers. Whilst the Trustees accept that these events are outside their
control, there are emergency procedures in place and improvements have been made lo access to the sile
allowing it to cope wth most aclverse weather. The mechanics of Command and Control procedures allow for
fast lime decisions lo be made up to and ineluding the point of needing lo abandon the Kent County Sh¢)W.
The board has responded to tho Covid-19 pandemic by setting up a 'Covid-19 Task and Finish Grcsup. as a
subgroup within the board. 115 Purpose was lo undertake strategic decisions in relation lo a review and if
necessary. restructure of the organisatK)n. including addressing any associated risks that arose.,
The Trustees are managing the financial impact of these risks by building a sufficient level of reserves to
safeguard the SocAety against the absence of budgeted income as a result of such an adverse event.
Plans ft>r future periods
The Society plans lo continue wrth the strategies outlined in the objects and policies with major aspects of this
being the Kent County Show, Fam Expo. Living Land and the educational awards and bursaries.
The Trustees and senior management team look al feedback from past events and procedures and athys
undertake detailed reviews in order lo enhance experience, reduce costs and increase educational aspects and
outreach of future offerings.
The Society is also continuing to maximise rèvenuès gener*ed by the Kent Event and Exhibition Centre Limited
in order lo increase funds available to support the charitable objectwes.
The Board wll continue to support the senior management team'8 plan to adapt the SoGiely'5 future activities in
light of Covid-19 to ensuie rt$ Charitab￿ objectives are achieved.
Page 9

KENT COUNTY AGRICULTURAL SOCIETY
{A company Ilmlted by guaranto01
Truste6S' rnport Icontinuadl
for the year ended 30 September 2020
Dlsclosure of Infomiatlon to audltors
Each of the persons who are Trustees at the time when this Trustees Report is approved has confirmed that..
$0 far as that Trustee is aware, there is no relevant audi( information of whth the charilablo group's
auditors are unaware. and
that Trustee has taken all steps that ought lo have been taken as a Trustee in order to be aware of any
infom)alion needed by the charitabie group's auditor5 in connection with preparing their report and lo
estsblish that the ¢haril8ble group's auditors are aware of that information.
This report was approved by the Trustees on 14 December 2020 and signed on their behalf by..
Mr J P Forknall, Chainnan
Page 10

KENT COUNTY AGRICULTURAL SOCIEtY
IA company limitgd by guarantee)
Statement of Trustees. responsibilities
for the year ended 30 Sgptgmber 2020
The Trustees (who are aL%o the direclors of the Society for the purpctses of company lawl are responsible for
preparing the Trustees. report arKI the financial statements in accordance with applicable Lw and United
Kingdom Accounting Standards Iunited Kingdom Generally Accepted A¢xounting Practi￿1.
Company requires the Trustees to prepare than¢￿1 statements for exh finan¢tal year. Undgr company law,
the Trustees musl not approve the finanaal statements unles5 they are sakn"5fEd that they give a true and fair
view of the State of affairs of the Group and the Society and of th￿r incoming reSoUr￿S and application of
resources. including their inccffle and expendrture. for thal period. In p￿paring these ftnancHI statements, the
Trustees are required lo..
select Suitab￿ accounting poltcie5 and then appty them consistenty,"
observe the methc¥ls and principles of the Charitie5 SORP IFRS 1021".
make judgements and accounting estimates that are reasonable and pnJdent'.
state whether applicable UK Accounting Standards IFRS 102) have been folkAv&d, subject to any material
departures disclosed and expLqined in the finanoal statements.,
prepare the financi￿ statements on the going concem bask8 unless it ts inappropriate to pr&sume that the
Group wdl continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and exptain
the Group and the Sc￿letys transathons and disclose vthh reasonable accurdcy at any lime the financ￿1 position
of the Group and the Society and enable th￿n to ensure that the financial statements compty ￿￿th the
Companies Act 2006. They are also responsh)te for safeguarding the assets of the Group and the So¢￿ty and
hence for taking reasonable steps for the prevention and deteclton of fraud and other ifregularities.
Page11

**KENT COUNTY AGRICULTURAL SOCIETY** 

## **(A company limited by guarantee)** 

## **Independent auditors' report to the Members of Kent County Agricultural Society** 

## **Opinion** 

We have audited the financial statements of Kent County Agricultural Society (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 30 September 2020 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Society balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 30 September 2020 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended; 

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

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

## **Basis for opinion** 

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

## **Conclusions relating to going concern** 

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

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

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

Page 12 



**KENT COUNTY AGRICULTURAL SOCIETY** 

**(A company limited by guarantee)** 

## **Independent auditors' report to the Members of Kent County Agricultural Society (continued)** 

## **Other information** 

The Trustees are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial statements and our Auditors' report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinion on other matters prescribed by the Companies Act 2006** 

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

- the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements. 

- the Trustees' report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report. 

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

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

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

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

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

- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report. 

Page 13 



**KENT COUNTY AGRICULTURAL SOCIETY** 

## **(A company limited by guarantee)** 

## **Independent auditors' report to the Members of Kent County Agricultural Society (continued)** 

## **Responsibilities of trustees** 

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, 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's and the parent charitable 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 Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditors' responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' 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. 

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

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. 


## **Samantha Rouse FCCA DChA (Senior statutory auditor)** 

for and on behalf of **Kreston Reeves LLP** 

Statutory Auditor Chartered Accountants 

Canterbury 

15 December 2020 

Page 14 



KEKr couTrrrY AGRICULTURAL SOCIETY
IA company Ilmlted by guarantee)
Consolidated Statemant of linancial activities Ilncorporating Income and expendlture account)
for the year ended 30 September 2020
Unrestricted
funds
2020
Total
funds
2020
Total
funds
2019
Nots
Income from:
Donations and legacies
Charitable actNilies
Other trading activities
Investments
Other income
167,902
46,984
742.678
7,095
361,794
167,902
46,984
742,678
7,095
361.794
30.840
1,107,080
1,338,766
7,780
7,876
Total Income
Expenditure on:
Raising funds
Charitable artivilies
1.326,453
1,326.453
2,492,342
157.887
1,223.110
157.887
1,223,110
682,585
1,883,580
11
Total expendlture
1,380.997
1,380,997
2,566.165
Net gains on irwestrments
4,322
4,322
63,603
Net movement In funds
150,2221
150.2221
(10,2201
Reconciliation of funds:
Total funds broijghl foward
Not movement in funds
3.578,108
150.222)
3.576.108
150.2221
3.586,328
110,2201
Total funds carrled for•¥ard
3,525,886
3,525,886
3,576,108
The Consolidated slalement of financial activities include8 all gains and losses recognised in the year.
The notes on pages 19 to 42 form part of these financial statemenls.
Page 15

KENT COUNTY AGRICULTURAL SOCIETY
(A company limitgd by guarantee)
Reg18tered number: 02566508
Consolidated balance sheet
as at 30 Septèmber 2020
2020
2019
Flxed a888ts
Tangible as$8ts
Investments
Investment propety
18
20
19
3,834,464
405,361
525,000
4.229,319
363,459
525,000
4.764,825
5,117,778
Current assets
Dgblors
Cash al bank and in hand
21
113,689
606,578
136,529
244,824
719,247
381.353
Cieditors.. amounts falllng due within ono
year
(377,1TI}
1375,806}
Not curront asset•
342,070
S,S47
Total assets le￿ current Ilabllltl••
5.106,89S
5,123,325
Creditors.. amounts falling due after mo
than one year
Provisions for liabilitie8
23
25
{1.622,8581
168,1511
{1,531,0171
116.2001
Total not ass8ts
3,525.886
3,576,108
Charlty fund#
Restricted funds
Unre51ricled funds
26
26
3,525,886
3.576,108
Total fund5
3,525,886
3,576,108
The Trustees acknowtedge their responsibilities for Complying with the iequir8rnents of the Act with respect to
accounting records and P￿paratIOn of financial slalemenls.
The financial statements have been prepared in accordance with thè pmvi$ions applicable to entities subjèct to
Ihe small companies regime.
The financial slalgmenls were approved and aulh0ri5ed for issue by the Trustees on 14 December 2020 and
signed on their b
alf by..
MR J P Forknall
Chairman
The notes on pages 19 to 42 fom part of these financial stalemenls.
Page 16

KENT COUNTY AGRICULTURAL SOCIETY
(A company limited by guarantoe
R8gist&rgd number. 02556508
Society balance sheet
as at 30 September 2020
2020
2019
Note
Fixed assats
Tangible assets
Investments
18
3,834,464
405.366
525,000
4,229,319
363,464
525,000
20
Investment property
19
4,764,830
5,117,783
Current assets
Debtors
Cash at bank and in hand
21
102,309
490,654
19,978
134,565
592,963
154,543
Creditors.. amounts falling due within one
year
22
1254,7601
(543,7601
Net ¢urrgnt assats I liabiliti8s
338,203
(389,217)
Total assets less current liabilities
5.103.033
4.728,566
Creditors.. amount$ falling due after fflore
than one year
Prowsions for liabilitie5
23
25
{1,522,8581
{58,1 $1)
(1.531,01n
116,2001
Total net assets
3,522,024
3,181,349
Charity funds
Reslricled funds
26
Unrèstricted funds
26
3,522.024
3,181,349
Totsl funds
3,522,024
3,181,349
The Trustees ackn£￿￿1edge their Te5PDn5ibililies for complwng wlh the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial slalements h'ave been prepared in accordance wtih the provisions applicabie to entities subject to
the small companies regimg.
The financial stateM￿ts w6r& approved and authorised for issua by the Trust8as on 14 Decem￿r 2020 and
signed on thoir beham by..
Mr J P Forknall
The r￿eS on pages 19 10 42 form part of these financial statements.
Page17

KENT COUN￿ AGRICULTURAL SOCIErY
(A Company Ilmited by guarnntg9)
Consolidated ststamsnt of cash flows
for Ihe year onded 30 Soptwnber 2020
2020
2019
Cagh flows from operatlng actlvltles
Net cash used in operatin9 ￿T￿lieS
{128,3891
54,922
Cash flows from Inv88ting activltl
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from sale of invoslments
Purchasa of investments
7,780
581.500
11.335}
(27.6931
58.099
88.592
(96,6291 1195,3221
Net cash provld•d tyl{usod In) Invesijng actl¥liSe8
660,280
{126,6431
Cash flo￿ from Ilnanclng actlvltle•
Repayments of borr(yMng
161,1371
188,4941
Ngt u¥h uwd In flnanclng actlvlll
{61,137)
18B,494)
Change In ush and cash ¢qulvalents In th• y•ar
Cash and cash equiv￿ent8 at the keginning of the yeai
360.764
{160,21S)
405,039
244.824
Cash and c•*h •qufv•lents at the ond of th• y•ar
605.578
244,824
Th8 I￿18¥ on p4es 19 10 42 lo￿n part ofthese fIn￿CIal Statements
Page 18

KEKf COUNTY AGRICULTURAL SOCIETY
IA company limited by guarantee)
Notes to tho financial ststements
for the year ended 30 September 2020
Gongral infomiation
Kent County Agricultural Society is a charty, limited by guarantee, which is inwrporaled in England and
Wales, wi(h the registration number 2556508.
The Societvs registered office is County Showground. Detling, Maidstone. Kènt, ME14 3JF.
The charitable activ¢ti'es of the Sou8ty are to hold the Kent County Show for the exhibition of Iwestock,
farm and horticultural produce, machinery and other things pertaining lo agriculture. and to encourage
agricultural and horticultural education and for the improvement of agriculture generally.
Accounting policies
2.1 Basi$ of preparation of financlal statements
The financial statements have been prepared in accordan￿ with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Slalemenl of Recommended PraCt￿e applicable lo charities
prepOTing their accounts in accordanca wih the Financial Reporknng Standard applicab￿ in the UK
and Republ￿ of Ire(and IFRS 1021 (effective 1 January 20151, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 20Q6.
Kent County Agricultural Society meets the definition of a public benefit enlfy under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unles$ otherw$
Stat￿ in the relevant accounting policy.
The group's functional and presentational currency is Pounds Slerfing.
The group's f nancial statements are presented to the nearest pound.
The Consolidated 5talemenl of financial actiwties (SOFA) and Consolidated balance sheet
consolidate the financial statements of the Group and ils subsidiary undertaking. The results of the
subsidiary are consolidated on a line by line basis.
The Group has taken adwdntage of the exemption allcwed under section 408 of the Companies Act
21)06 and has not presented its own Slalemont of financial actNities in these financial stalemenls.
The company has taken advantage of the fc41owng disclosure exemptions in preparing ils individual
financial statements as permrtted by FRS 102 'The Financial Reporting Stsndard Applicab￿ in the
UK and Republic of Ireland"
. the requirements to present a statement of cash flows for the company.,
the requirements of Sedion 33 Related Party Disclosures paragraph 33.7.
2.2 Company ststus
The Society is limrted by guarantee and does not have a share capital. The liability of each of the
members is limited lo such contribution as may be required (not exceeding £11 to the Societys
assets rf it should be wound up while such person is a member, or wi(hin one year after such person
ceases to be a member. and of the costs, charges and expenses of winding up, and for the
adjustment of the rights of the contributories Ihemsefves.
If upon the winding up or dissolution of the Society there remains a surplus, after the satisfaction of
all rts debts and liabilities, and property whatsoever. Ihe same shall nol be paid to or distribuled
among the members of the Society and sh811 be gwen or transferred lo some other charitable
instiiution hamng objectives simi18r to the objectwes of the Society.
Page19

KENT COUNTY AGRICULTURAL SOCIET
{A company limited by guarant8al
Notes to the financial statements
for the year ended 30 September 2020
A¢Gountlng pol1cl￿ Icontlnuedl
13 Going Con￿rn
The finaneial statements have been prepared on a going concem basis.
During the year, a pandemic was dec18red as a ￿sum of Cow&19, which had an impact on the
Society due to the restrictions and national l¢xkdowns put in place by the goveTnment which
restricted the activities of the Society, including the cancellation of the Annual County Show.
While the Group have a deficit for the year and￿1 30 September 2020, they have an incrèase in cash
and cash equivalents al the year end due to the sale of the Scragged Oak Caravan Park during the
year providing additional working ￿prtaI. Further funding has been obtained since the year end by
way of a Coronavirus Business Interruption Loan.
The Society has ￿rfOrni8d a rèorganisation since the year end in an affort lo reduca 8xpanditure in
pect of staffing and maintenance.
In an adverse financial scenario th8 share portfolio and investment property could be realised without
impacting the Society's charitable objective8.
In all plausible downside scenarios the directors have no reason lo believe that the Group would not
bè abb to continue trading for the foresè¢ablè future.
2A Fund accountlng
Gener81 fund8 are unrestricted funds which are avaii8ble for use al th8 discretion of the Trustees in
furtherance of the general objectives of the Group and which have not been designated for other
purpos9$.
Designated fund8 comprise unrestricted fundB that have been set aBido by the Trustees for particular
purposes. The 'aim and u88 of each designated fund 18 set out in the notes lo the ffnancial
statements.
2.6 Bas18 of con8011datlon
The financial statèments eonsolidal8 the accounts of Kent County Agricultural Society and all of its
gubsidiary undertakings I'subsKiiaries'l.
The company has taken advantage of the exemption contained within sedion 408 of the Companies
Act 2006 not to present ils own Income and Expenditure account.
Page 20

KENT couiiry AGRICULTURAL SOCIETY
IA company limit8d by guarante81
Notes to the financial statemènts
for the year ended 30 September 2020
Accountlng pollcles {contlnuedl
2.6 Incomlng r8sourco8
Annual subscriptions from members are included in th8 year they are received. Life membership
Subscriptions are credited lo deferred income and released lo income in equal installmenls over
enty year8,
Income from the showground letting is recognised as earned.
Investment income 18 recognised on a receivable basis.
Income from charitable aclmlies 18 recogni5ed as earned. Grant income is recogni5￿ where thère is
enlitlemtnt. certainty of receipt and the amount can be measured with sufficient certainty.
VVh8re applicable, incoma is sL*ed 8xclu$ive of Value Added Tax and trade discounts.
Grants are included in the Consolidated Statement of financial aclivrti8s on a recewable basi8. Th8
batance of income received for specific purposes bul not expended during the period is shown in the
relevant funds on the Balancg sheet. Where income 18 receNed in advance of enlillemenl of receipt,
ils recognrtion is deferred and included in creditors as deferred incom8. Where enlillemenl occurs
before in￿rne is recgivgd. the incomg is accfued.
2.7 Resources expendad
Expenditure 13 recogni3ed whgn a liabilty is incurred.
Costs of generating funds are those costs that are in¢urred in undertaklng trading activities that ralse
fund8 and in managing the Society's investments.
Charitable aclMlie8 include the expenditure 88s¢xialed wlh staging the Kent County Show. LivSng
Land, Fam Expo and in the making of educational awaré8 and bursaries as well as gran15 to Young
Farmer8 Clubs.
Governance costs include those incurred in the yovernance of the Society and ts a888t8 and are
primarily associated with con5tilulional and slalulory roquiremenls.
Support costs include central functions that have been allocated to acliwly cost calegorigs on a basis
consigtent wrth use of resources.
18 Tangible flxed as88ts and dopraclatlon
Tangible fixed assets are carried at cost, nel of deprgciation and any provision for impaim)ent.
Depreeialion is not charged on freehold land. Depreciation is provided at rates calculated lo write off
the cost of fixed assets, less their estimated residual value, over their expected useful lives.
Depreciation is provided on the following bases..
Freehold property
Freehold land
Plant and machinery
Motor vehicles
Office equipment
_ 12.5% per annum on c05t
O•/0 per annum on cost
12.soh _ 250fi per annum on cost
25./0 per annum on cost
33.33Yo per annum on cost
The carrwng values of tangible fixed assets are reviewed for impairment when events or changes in
circumstan￿8 indicate that the carrying value may not be recoverable.
Page 21

KEfrrr COUNTY AGRICULTUFIAL SOCIETY
IA company limited by guarantee)
Notss to the flnancial statements
for th8 yéar ènded 30 September 2020
Accounting policies {continuedl
2.9 Pensions
Pension costs charged against income represent the amount of contributions payable lo group
personal pension schemes in respect of the accounting year.
2.10 Investments
Fixed asset investments are a form of financial instrument and are initially recognised al their
transaction cost and subsequently measured at fair value al th& Balance sheet dale, unless fair Wdlue
annot be measured reliably in which case it 15 measured at Cost les5 impairment. Investment gains
and losses, whether realised or unrealised. are combined and shown in the heading 'Gains]Ilossesl
on investments, in the Consolidated statement of financial aclNrities, incorporating income and
expenditure accounL
2.11 Investrnent proporty
Investment propety is carried at fair valu& determined annually by the tlirectors with the assistance of
extemal valuers when required and derwed from the current market rents and investment property
yields for comparable real estate, adjusted rF necessary for any drfference in nature, location or
eondition of the specific asset. No depreciation ts prowded. Changes in fwr value are recognised in
the Statement of financial &tiwlies.
2.12 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the company.. this is normally upon notrfication of the interest paid or payable by tho 8ank.
2.13 Leasing and hire purchase
Assets obtained under hire purchase contracts and finance leases are ¢apitalised as tangible fixed
assets. Assets a￿uIred by finance lease are depreciated over the shorter of the lease temi and their
useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases
are those where subslanlialty all of the benefits and risk5 of ownership are assumed by the Group.
Obligations under such agreements are included in creditors, net of the finance charge allocated to
future periods. The finance element of the rental payment is charged Its the Consdidaled statement
of financial actwrf(ies so as lo produce a constant periodic rale of charge on the net obligation
oulslanding in each period.
2.14 Operating leases
Rentals paid under operating leases are charged to the Consolidated statement of financial aclimlies
on a straight line basis over the lease term.
2.15 Debtors
Trade and other debloTS are recognised al the settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid nel of any trade discounts due.
2.16 Cash at bank and in hand
Cash al bank and in hand includes cash and short-lerm highly liquid investments wth a short malurrty
of three months OT less from the date Df acquisition or opening of the deposit or similar aceount.
Page 22

KEfr¥f COUNTY AGRICULTURAL SOCIETY
IA company limlted by guarantee)
Notes to the financial statements
for the year gndgd 30 Septembgr 2020
Accounting policies (continued)
2.17 Liabilities and provtsions
Liabilities and provisions are recognised when there is an obligation at the Balance sheet dale as a
result of a past event, it is probable that a transfer of economic beneff( will be required in settlement,
and the amount of the settEement can be estimated reliabty.
Liabilities are recognised at the amount that the Socièty antscipates il wll pay to Sett￿ Ihe debt or the
amount il has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required lo settle the Obl￿allon. Where
the effect of the lime value of money is material. the provision is based on the present value of those
amounts, discounted at the pr&tax discount rate that reflects the risks specrfic lo the liability. The
unwinding of the discount is recognised in the Consolidated sL*ement of financial aclivrties as a
finan￿ cost.
118 Flnanclal Instruments
The CDmpany only has financial as5els and financial liabilities of a kind that qualify as basic financial
instruments. Basi¢ financial instruments are inrtialty recognised at Iransa¢lion value and subsequently
measured at their setmement value wth the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
Debt instruments lolher than those wholly repayable or ￿CeiVable within one year}, induding loans
and other a￿UnIS receivable and payable, are initialty measured at present value of the future cash
flows and subsequently al amortised cost using the effectivè interest method. Debt instruments that
are payable or receivable within one year, typically trade payables or receivables, are measured,
inf(ially and subsequently, at the undiscounted amount of the cash or other consideration expected to
be paid or received. However if the arrangernents of a short4erm instrument constitute a financing
transaction, like the payrnent of a trade debt deferred beyond normal business terms or financed at a
rale of interest that is not a market rale or in case of an out-right short-lemi loan not at market rate.
the financial asset or liability is measured, initially, al the present value of the future cash flow
discounted at a market rale of inl8resl for a similar debt instrument and subsequently at amortised
cost.
Financial assets that are measured at cost and amortrsed cost are assessed al the end of each
reporting period for objective evidence of impaimienl. If objectnie evidence of impairment is found, an
impairment loss is re￿nised in the profrt andlgss account.
For financi￿ assets measured at amorhsed cost, the impaiTment10ss is measured a5 the difference
betsween an asset's carying amount and the present value of estimated cash flows discounted at the
asset's original effective interest rate. If a financial asset has a variable inleresl rate, the discount rale
for measuring any impairment loss is the current effective interest rate determined under the
contract.
For financial assets measured at cost less impaimient. thè impairment loss is measured as the
drfference befvleen an asset's carrying amount and best estimate of the recoverable amount. which is
an approximation of the amount that the company would receive for the asset If it were to be sold at
Ihe balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when
there is an enforceable right lo set off the recognised amounts and there is an intentton to settle on a
nel basis or to realise the asset and setue the liabilty simultaneously.
Page 23

KENT COUNTY AGRICULTURAL SOCIETY
IA Company Ilmlted by guarant901
Notes to the financtal ststements
for the year ended 30 Septembgr 2020
Judgements In apptylng accountlng pollclos and key sources of estimation uncertainty
The preparation of the financial statements requires the directors to make judgements, estimates and
assumptions that can affect the amounts reported for assets and liabilities, and the resutts for the year.
The nature of eslimalion is such though Ihal actual outcomes could differ significantly from those
estimates.
The following judgements have had the most significant impact on amounts recognisèd in the firbancial
sl8lemenl$'.
Lease Commitn￿nts
The company has enl8red into a range of leasé commilmgnls in respgct of propety, plant and equipment.
The dassificalion of these leases as either financial or operating ieases requires the directors lo eonsidor
whether the terms and conditiong of each lease are such that the company has acquired the rTsks and
rewards ass¢xiatèd with the ownership of the undertying assets.
Going concem
In th8judgement of the director811 is appropriaté lo prepare the financial statomenls in accordance with
the going concem basis of accounting. See accounting policy 2.3 for further detail8.
The following are the company'8 key sourees of estimation uneertainty..
Investmenl prop8rt18S
The company holds investment property with a fair value of £525,000 at year end Isee note 191. In order
lo determine the fair value of investment property the directors have used a valuation technique based on
comparable market data. The delemiined fair value of the inve8lmenl proporty is most sen8ilNe lo
fluclualions in the property market.
Tèngible fix8d assets
The company ha3 rg¢0gnised tangible fixgd assets with a carying value of £3,834,464 at the reporting
dale (see note 181. These assets are slated at their cost less provision for depreciation and impairment.
The company's accounting policy sets out the approach lo Calculating depreciation for immaterial assets
acquired. For material assets such as land and buildings the company deternines at acquisition reliable
e81imal8s for the useful life of the asset, ils residual value and decommi$5i0ning costs. These eslimales
are based upon such factors as the expected use of the acquired asset and market conditions. At
subsequent reporting dalgs the directors consider whether there are any factors such as technological
gdvancements or Changes in market conditions that indicate a need lo reconsider the estimates used.
Where there are indicators that thè carrying value of tsngibie assets may be impaired the company
undertakes lesls lo delemiine the recoverable amount of assets. These lesl8 require estimates of the fair
value of assets less cost to sell and of Iheif value in us8. Wherever possible the estimate of the fair value
of assets is based upon observable market prices less incremental wsl lor disposing of the asset. The
value in use calculation Is based upon a discounted Cash Ilow MC￿91, based upon the company's
forecasts for the foreseeable future which do not include any restructuring activities that the company is
not yet committed lo or signrficanl future investments that will enhance the asset's performance. The
recoverablg amount is most sensitwe lo the discount rale used for the discounted cash flow mc4Jel as well
expected future Gash flows and the growth rale used for extrapolation purposes.
Page 24

KENT COUNTY AGRICULTURAL SOCIETY
{A company lirnited by guarant991
Notss to th8 flnancial statements
for thg yoar ended 30 September 2020
Donations and legacie5
2020
2019
Membership subscriptions
Donations
Govamment grants
19,681
30.673
167
148,221
167,902
30,840
Govemrnent grants are income r￿1Ved from the Coronavirus Job Retenb'on Scheme during the year.
Incorne frorn invostments
2020
2019
Interest receivable
Dividends receivable
603
6,492
448
6,918
7,095
7,366
other income
2020
2019
Profrt on disposal
Other income
333,096
28.698
7,876
361,794
7,876
Incomlng rgsourres
These predominantly represent income in relation lo Farm Expo, the only Society event able to go ahead
in 2020, together wth other income which includes receipts not requested to be refvnded from the Kent
County Show and the Heritage Transport Show, and are slated net of Value Added Tax.
Page 25

KENT COUNTY AGRICULTURAL SOCIETY
{A company limited by guarant99)
Notes to the financial $tatemenl$
for thg yoar ended 30 September 2020
Taxation
In the wew of the directors, the vaTiOUS sources of income attributable lo the Society are not liable lo
Corporation Tax. This position has been confirmed by HM Revenue & Customs in relation lo the accounts
of tho Soc¢ety for rts fiTsI accounting period, subject to the Society continuing lo apply its income for
charitable purposes in accgrdan¢e with Paragraph 1 Schedule 6 of the Finan￿ Act 2010. The Society
was required lo submit its acwunts and a Corporation Tax self assessment return to HM Revenue &
Customs for the year ended 30 September 2009 which indicated that no taxable resutt arose. 11 is likely
that this position will be reviewed from time to time.
Direct Costs
Total
Total
Unrastri¢tod Unrestricted
2020
2019
Finance income and expenses
Show expenditure
Wages and salaries
National insurance
Pension cost
65.298
322,301
259,643
16,926
10,659
67,888
670.215
247,641
19.096
12,819
674827
1.017,659
Page 26

KEwf COUNTr AGRICULTURAL SOCIETY
(A Company limited by guarantee)
Notss to the flnantlal ststements
for tho y••r ended 30 Septombor 2020
10. Support Costs for Socloty Activities
Total
Tot81
Unrestrfcted Unreslricled
2020
2019
salari￿ and temporary staff
Notional insurance
Pension c081s
Othar employment costs
254,836
23,521
14,365
660
267,063
25,056
13,588
5,937
293,382
311,644
Insurance
Propoty and equipment maintenance
Depreciation
Sundry Gosls net of showground letting expenditure
26,471
8,251
134,762
29,095
211,768
144.054
89,768
169,484
474,685
Govèrnancg costs
Audit
10,676
4.171
30,505
24,135
16,031
10,575
601
Accountancy
Professional
Marketing
Soclety costs
22,995
32,010
13,411
85,417
79,592
548,283
865,921
Profésslonal fees
2020
2019
Stockbroking
Legal
other
4,398
27.921
11.814}
4,131
11,719
7.145
30.505
22.995
P8ge 27

KENT COUNTY AGRICULTURAL SOCIETY
{A company limited by guaranteo)
Notss to thè flnanclal statemènts
for the ygar gndod 30 Septgmbgr 2020
11. Anatysis of axpenditurn on ¢haritablo activities
Summary by fund type
Unrnstrictod
funds
2020
Total
funds
2020
Total
funds
2019
Society
1,223,110
1,223,110
1,883,580
Total 2019
1,883,580
1,883,580
Summary by expgndlture type
Total
funds
2020
Total
funds
2019
sL￿CoSts Depreciation Other costs
2020
2020
2020
Society
579,950
134,762
508,398
1.223,110
1,883,580
Total 2019
585,263
1H,054
1.154.263
1.883,580
12. Anatysis of èxpanditurn by activities
Acllvltles
undertaken
directly
2020
Support
Total
funds
2020
Totsl
funds
2019
2020
Society
674,827
548,283
1.223.110
1,883.580
Total 2019
1.017,659
865,921
1,883.580
Page 28

KENT COUNTY AGRICULTURAL SOCIETY
(A company Ilmited by guarantee)
Notes to tho financlal statsm8nts
for the year onded 30 Sèptember 2020
13. Auditors. r8muneration
2020
2019
Fees payable to the Society's auditor for the audit of the Society's annual
accounts
10,57S
10,575
Fees payable to the Society's auditor in respect ot.
The audrting of accounts of associates of the company
Taxation compliancè serMC8S
1,000
500
1￿ Stsff costs
Group
2020
Group
2019
So¢lety
2020
Society
2019
Wages and salanes
S¢xial security costs
Contribution lo defined wnlribution pen3ion
h￿e5
614,479
40,44Y
514,704
44.152
614,479
40A47
514,704
44,152
28,024
26.407
26,024
26,407
679.960
585.263
679,950
585,263
Included in wages and 8alari88 are redund8ncy co$18 tolalling £64,54112019'. £16,200).
Thè thrage numbgr of persons employed by the Soclety during the year was a8 follow8.'
Group
2020
Group
2019
No.
21
23
No empbyee received remuneration amounting lo more than £60,000 in either year.
The Truslges and Senior Management Team who have the aulhorty and rgsponsibility lor planning.
directing and conlTolling the activities ol the group are considered lo be key managernenl personnel. The
Trustees received no remuneration in the year 12019.. £Nill and total remuneration in re5pgd of the
Senlor Management Team is £187,37612019.. £175,848}.
15. Truste￿. remunoratlon and expens0$
During the ye8r. no Trustees weived any remun&ration or other benefil$12019- £NILI.
Durfng the year ended 30 Seplembor 2020, expen8es lolalling £28 (2019.. £1351 were paid lo certain
Trustees during the year in respect of reimbursement of out of pocket exp&ns&s.
Page 29

KENT COUNTY AGRiCULTURAL SOCIETY
{A company Ilmlted by guarantee)
Notes to the financial statements
for the year ended 30 Septembor 2020
16. Pen8lon costs
The Society makes conlribukn'ons to a group personal pension scheme in resp8Ct of ¢grtain members of
staff and lo an auto enrolment ¢omplianl scheme in respect of all other qualifying members of staff. The
as8els of the sehemes are held separately from those of the Society in independently administered funds.
The pension cost represents conlTibuts'on8 Payable by the Society and amounted 10 £25,024 {2019.'
£26.4071.
17. Internst payabl•
2020
2019
On other loans
On finance leasès and hire purchase contrads
64,031
1,267
68,771
1,117
6S,298
67,888
18. Tanglblo flxed assets
Group and Soclety
Assats In
the courn6
Freehold
of
property constrnctlon
Plant and
machlnery
Total
Cost or valuatlon
Al 1 Oclobor 2019
Additions
Dlsposals
7.198,261
39,926
385
643.T19
950
{15.931}
7.881,956
1,335
1286,2171
1270,286)
At 30 September 2020
6,927,965
40,311
628.798
7,597,074
Depreclatlon
At 1 October 2019
Charge for the y$ar
On disposals
3,153.915
103.045
{22.7981
498,722
31,717
{1,9911
3,652.637
134,762
{24.7891
AI 30 September 2020
3.234.162
528,448
3,762,610
Not book valug
AI 30 September 2020
3.693,803
40.311
100,350
3.834.464
At 30 September 2019
4.044,336
39,926
145,057
4,22Y,319
Page 30

KETr￿ couiiry AGRICULTURAL SOCIET
IA company Ilmited by guardnteg)
Notes to the financial statements
for thg year onded 30 September 2020
Tanglble flxed assets Icontlnuedl
Group and Soclety (¢ontlnuedl
The nel book value of assets held under finance or hire purchase contracts, included above, are as
follows..
2020
2019
Plant and machinery
18,450
37,002
Included in land and buildings are the following amount8 relallng lo a¥3el$ on whlch no depreciation has
been charged..
Freehold land.. £228,43112019'. £267.9691.
19. Invojtment property
Group
Freehold
Investment
property
Valuatlon
At 1 October 2019
Surplu8 on revaluation
525.000
At 30 September 2020
525,000
The 2020 valuations were mad8 by Ihg directors on an open market value for existing u$9 basis.
Page 31

KENT COUNTY AGRICULTURAL SOCIErY
{A company limited by guarantee)
Notes to the tinancial statements
for the year ended 30 September 2020
20.
Fix8d ass&t inveslments
Llstad
Investments
Group
Cost or valuauon
At 1 October 2019
Addtiions
Disposals
Revaluations
363,459
95.529
158.6281
5.001
At 30 Sapt•mb•r 2020
405.361
Net book value
At 30 September 2020
405,361
AI 30 September 2019
363.459
Page 32

KENT COUF¥fY AGRICULTURAL SOCIETY
IA company Ilmtted by guarant801
Notes to the financial statemènts
for the year ended 30 September 2020
20. Flxod asset Investments Icontlnufjdl
Usted
securitles
Unlisted
¥ecuriti
Total
Soclety
Cost or valuatlon
Al 1 Odober 2019
Addrtions
Disposals
Revaluations
363,459
95.529
{58.628}
$.1)01
363,464
95.529
158.628)
5,001
At 30 Septomb•r 2020
405,361
405,366
Nèt book valug
At 30 Soptombgr 2020
405,361
405.366
AI 30 September 2019
363,459
363,464
Listed investrnenls are heid within the UK AN amounts above relal&J lo tha gengral fvnd.
Sub8ldlary undortaklngs
The fellowing were subs¢diary undertakings of the Sooety:
Class of
8har•s
Namo
Holdlng
Prlnclpal actlvlty
Kent Event and Exhibition Centre Limited
Ordinary
1(N)%
Raising funds for the Kent
County Agricultural Society by
the hire of the showground to
oulside user8
y Farming Matters in Kent Limited
Ordinary
100%
Domant
Fam Expo Limited
Ordinary
100%
Domwnt
BKldenden Tr*Jrfgst Limited
Ordinary
100%
Dormant
The reg￿tered offKe of the at4)ve companw is County Showyround. Dettiry. Maidstona. Kent, ME14
3JF.
Page 33

KENT COUNTY AGRICULTURAL SOCIETY
{A company limit9d by guarantee)
Notes to the financial statements
for the year endad 30 Soptembgr 2020
21. DebtQTS
Group
2020
Group
2019
Society
2020
Society
2019
Due after more than one year
Other debtors
22,500
22.500
22.5DO
22,500
Due wlthln one year
Trade debtors
other debtors
Prepayments and a¢cNed incomo
47,450
43.719
120,664
5,380
10,485
36,090
43,719
8.601
5,377
6,000
113,669
136,529
102.309
19,978
22. Credltors: Arnounts falling due within one year
Group
2020
Group
2019
Society
2020
Society
2019
Bank loans
Trade creditors
Amounts owed lo group undertakings
other taxation and socBI security
Obligations under finance lease and hire
purchase contracts
Other creditors
Accruals and deferred income
37.828
45,764
80,937
83,245
37,828
36,419
45,520
67.343
80.937
41,499
356,657
32,579
67.343
32,579
7,380
25,736
193.126
12,690
418
7.380
838
59.432
12,690
418
18.980
185,937
377,1
375.806
254.760
543.760
Doferrgd income
Group
Society
Deferred income al 1 October 2019
Resources deferred duTing th6 year
Amounts releas&d from premous years
136.357
159.943
1136,3571
49.666
159,943
49,866
Page 34

KETr￿ COUNTY AGRICULTURAL SOCIErY
IA company lirnit8d by guarantsel
Notss to the flnanclal statements
for tho yoar endad 30 September 2020
23. Credltoys: Amounts falllng due after more than one year
Group
2020
Group
2019
Soclety
2020
Society
2019
Bank loan5
1,508,187
1,5Q5,559
1.508.187
1,505.559
Net obligations under ffnan￿ leas6 and hire
purch8$8 contracts
Accruals and deferTed income
615
14.066
15,961
9.497
615
14.056
15.961
9,497
1,522,858
1,531.017
1.522.858
1.531,017
The aggregate amount of liabilitias payablo or repayable wholly or in part MO￿ than five years after the
reporting date is..
Group
2020
Group
2019
Society
2020
Society
2019
Payable or repayable by inslalments
1,186.378
1,145,523
1.186.378
1,145,523
1,186,378
1,145,523
1,186.378
1,145,523
Deferred income represents membership subscriptions in respect of lrfe members and life governors.
Amounts recewed are released lo inccfne over a 20 year pericd.
Bank loans comprise..
il A bank loan lo part finance the Kent Event Centre Exhibition Hall is Secured by way of a Eegal charge on
the County Showground. The toan is repayable in monthty instalments over a period of 25 years from
2010, inter8$1 is payable at 3.95°A per annum.
li} 3 bank loans to finance the hAaidslone Exhibftion Hall. The bank bans are secured by way of a ￿gaI
charge on the County Showground. The loans had a 2 year deferred repayment period after which the
loan is repayable by inslalments by between 2033 and 2034. Interest is payable at bekneen 4.150A above
base rale and 4.35Yo above base rale per annum.
During the year the Society's bankers granted Capital Payment Holidays on the bank loans for 12 months.
Deterred Income
Group
s￿Iety
Deferred income al 1 Octc*)er 2018
Resources deferred dunng the year
Amounts released from premous years
9,496
5,664
11.104)
9,496
11,104}
14.056
14,056
Page 35

KENT COUNTY AGRICULTURAL SOCIETY
{A company Ilmlted by guararktee}
Notss to the financial statements
for th8 year ended 30 Sgptgmbor 2020
Financial instruments
Group
2020
Group
2019
Society
2020
Society
2019
Flnanclal assets
Financial assets measured at fair value
through income and expenditure
930.361
888.459
930.361
888,459
Financial assets measured al fair value Ihmugh income and expenditure comprise of fixed asset
investments and investment property.
Provisions
Group and Soclety
Redundancy
provlsion
Al 1 October 2019
16,200
58,151
(16.2001
Additions
Amounts used
58,151
Redundancy provtslon
DLJring the year ended 30 September 2020, a decision was made lo restructur8 the organisalion. This
resutted in a redundancy provision being recognised.
The prior year provision related lo th8 closure of Oak View Caravan Park and was fully ulili8ed during the
year.
Page 36

KENT COUNTY AGRICULTURAL SOCIETY
IA company limitgd by guarantee)
Notes to the financial statements
for the year •nded 30 September 2020
Statement of funds
Statem•nt of funds - current year
Balan¢8 at
30
Galnsl September
(Losses)
2020
Balance at 1
October
2019
Transfors
inlout
Income Expendlturn
UDTe8trfcted
funds
Dgslgnat•d
funds
Awards Fund
Tangible fixed
8s$et8
Womens
Farning Union
36,471
16001
35.971
3,139,172
{334,TT81
2,804.394
2,171
{181
2,160
3,177,814
16181 {334,778)
2.842.626
Ggneral fvnds
General Funds
398,294
1,326,446 {1.380,479)
334,TT8
4.322
683,361
Total
Unrèbtrlctsd
funds
3,576.108
1.328,453 11,380,997)
4.322
3,525,888
DMlgnated lund#
(il The Awards fund represents the balance of funds recèived from George Lane Hooson and Irene. Lady
Astor. By dec￿lon ol the directors, legaciey have been Iransferrod to a de8ign81ed fund in order lo meo1
the wshes of the testators, akhough those wshes were not bindlng. Transfers in the year represent
awards granted from the designat￿ fund.
lill A dgsign*gd fund, the Tangible Fixed Asset fund, reprèsents th¢ book value of tangible fixed assets
used in the furtherance of the Sociells objects loss any directly 8ssociale¢J Ixjrrowings as these ara not
in the opinion of the directOT3, part of tha So¢i&ll$ free reserves.
Illil The WFU Fund represents a donation of funds received from tho W¢ynen's Food and Famiing Union
(WFUI. By the dacision of the directors. this donation has been Iransferrad to a designèted fund in order
to support the actiwlies of Ihtr Faming in the Classroom projed.
Pagg 37

KENT COUNTY AGRICULTURAL SOCIErY
IA company Ilmlted by guarantee)
Notss to the flnanclal statements
for the ygar ended 30 Sgptgmber 2020
26. Ststsment of funds Icontinuedl
Statement of funds- prlor year
Balanee at
30
Gainsl September
(Loss￿>
2019
Balance at
1 October
2018
Transfers
inloul
Incomè Expendrture
Unrestrfcted
fund#
Dgsignatod
funds
Awards Fund
Tangible fixed
assets
Womens
Faming Unlon
36.532
414
{770)
295
36,471
3,117.039
22,133
3,139,172
2,353
10
11921
2,171
3,155,924
424
19821
22.133
295
3.177,814
G•n•ral fund•
General Fund¥
430,404
2,491,918 {2,565,2031
122,1331
63,308
398,294
Total
Unrestrlct•d
fund8
3,586,328
2,492,342 {2,566,1651
63,603
3,576,108
27. Summary of fvnd•
Summary of funds - currènt year
Balanc8 at
30
Gainsl September
{Lo8sesl
2020
Balance at 1
October
2019
Transfers
inlout
Incom8 Expanditure
Designated
funds
General funds
3,177,814
398.294
(5181 {3347781
1,326.446 (1.380A791
334.778
2,842.525
683.361
4,322
3.576,108
1.326A53 11.380,9971
4,322
3.525.886
Page 38

KENT COUNTY AGRICULTURAL SOCIETY
IA company limited by guarantee)
Notes to the financial ststsments
for thè yèar ended 30 September 2020
27. Summary of funds Icontinued}
Summary offunds- prioryear
Balan￿ at
30
Gainsl September
ILosses)
2019
Balance at
1 October
2018
Transfers
inloul
Income
Expenditure
Designated
funds
General funds
3.15S,924
430,404
424
1962)
2.491,918 12,565,203>
22,133
122,133}
295
3.177.814
398,294
63.308
3,586,328
2,492,342 12.566, 165}
63.603
3.576.108
2& Analysls of net assets batWè8n fvnds
Analysis of net assets between funds- current perlod
Unrestrfcted
funds
2020
Total
funds
2020
Tangible fixed assets
Fixed asset investments
Inveslmenl propety
Debtors due after more than one year
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilities and charges
3,834,464
3,834,464
405.361
405,361
525.000
525.000
22.500
22,500
696.747
696.747
1377,17n
1377.1771
11,522,858) 11,522.8581
158,151)
158.151)
Total
3,525,886
3,525.886
Page 39

KENT COUNTY AGRICULTURAL SOCIETY
A company limitgd by guarantee)
Notes to the financlal statements
for the year ended 30 Septembar 2020
28. Analy81s of net assets between funds Icontinuodl
Analysls of net assets betsveen funds - prlor porlod
Unrestricted
funds
2019
Total
funds
2019
Tangible fixed assets
Fixed ass81 investments
Inve8lmenl propety
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilrtie8 and charges
4.229,319
4.229,319
363,459
363,459
52S,000
525,000
381,353
381,353
1375,8C61
1375,8061
{1,531,0171 11,531,0171
116,2001
116,2001
Total
3,576,108
3.576,108
29. Reconclllatlon of n•t movamènt In funds to ngt cash flow from operatlng actlvltl
Group
2020
Group
2019
Nel expenditure for the pariod {as per Stalemènl of Financial Aclivitiesl
{50.222)
110.2201
Adjustments for:
Depreciation charges
Losses on investments
Dmdends, interests and rents from invgstmgnts
Gain on revaluation of investment property
Decrease in debtors
Increasel{decrea8el in creditors
Increase lo provisions
Profit on disposal of fixed asset
134,782
{4,4721
{7,54SI
144,054
{13,6031
(7,7801
(50,0001
82,230
1105,9591
18,200
22,860
54,350
41,951
1320,0731
Net cash provided byllused inl oparatlng a¢tlviti95
1128.3891
54,922
Pagg 40

KENT COUNTY AGRICULTURAL SOCIETY
(A company limited by guarant991
Notes to the flnanclal statements
for the year ended 30 September 2020
30. Analysls of Cash and cash equlvalents
Group
2020
Group
2019
Cash in hand
605,578
244,824
Total cash and cash •qulvalent8
605,578
244,824
31. Analy$ls of chang•s In net debt
At1
October
2019 Cash flows
At30
September
2020
Cash al bank and in hand
Debt due within 1 year
Debt due after 1 year
Finance leases
244.824
180,9371
1,505,559)
128,6511
360.754
605,578
43,109
137,8281
{2,6281 11.508,1871
20,656
17,9951
11.370,3231
421,891
1948.432
32. Operatlng l•a80 commltments
At 30 September 2020 the Group and the Society had C¢Jmmilmenls lo make future mlnimum lease
payments under non-eancellablè operating leas9$ as follows..
Group
202Q
Group
2019
Socl?ty
2020
Society
2019
Not lalgr than 1 yeaT
Later than 1 year and not later than 5 years
Later than 5 years
13.880
40.421
300
16,962
54.489
4,506
13,880
40,421
300
16,962
54,489
4,506
54.601
75,957
64.601
75,957
33. R•lated party transactions
During the prior year, Mrs H Cathcart, the wrfe of Mr T Calhcart a Trustee of the Society, was employed by
th8 Society on a casual contract. The total compensation she received for her employment was £3,492
commensuiate lo the role.
There were no related party transactions du¥ing the year ended 30 September 2020.
Page 41

KENT COUNTY AGRICULTURAL SOCIETY
IA Company limited by guarantee)
Notes to the financial statsments
for the year ended 30 September 2020
Post balancè sheet events
There have been no 5ignTficanl e￿nts affecting the S¢xiety since the year end. During the current
financial year, a pandemic was declared as a result of Covid-19, which had an impact on the Society due
lo the reslriclions and national lockdowns pul in pla¢8 by tha government which reslricled the activities of
the Society. The second lockdown ended on 2 December 2020.
Tho directors hav8 carefully c¢nsid8red the impact of the pandemic on the ¢omp8ny as detaileé in the
Trustees report. The Society has obtained government support through the Coronamnjs Bu5ine$8
Interruption Loan Scheme and was granted a loan of £250,O¢JO on 30 November 2020.
35. Controlllng party
There is no ultimate controlling paty.
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