VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 1r34 Registered number: 02630481 Charity number: 1003898 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 2r34 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details of the Company, its Trustees and Advisers Trustees. Report Independent Auditors. Report on the Financial Statements Statement of Financial Activities 8-10 Balance Sheet 12-13 Statement of Cash Flows 14 Notes to the Financial Statements 15-32
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 3r34 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Mr S Ackrill, Chair Mr D Barr Mr S Coventry Mr P Frankel Mr S Pallett Mr N Wallis REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Company registered number 02630481 Charity registered number 1003898 Registered office Newbury Showground Priors Court, Hermitage Thalcham Berkshire RG18 9QZ Company secretary Mr D Barr Independent auditors James Cowper Kreston Audit Chartered Accountants and Statutory Auditor 2 Communications Road Greenham Business Park Greenham Newbury Berkshire RG19 6AB Bankers National Westminster Bank PLC 30 Market Place Newbury Berkshire RG14 5AJ Page 1
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 4r34 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of The Newbury & District Agricultural Society (the company) for the year ended 31 December 2024. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the companvs governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directorfs Report) Regulations 2013 is not required. Structure, Govemance and Management Status and Administration The Society is constituted by the Memorandum and Articles of Association dated January 2009 as amended by the special resolution of the society passed on 6th July 2023. The Newbury & District Agricultural Society is a Company Limited by Guarantee, as defined by the Companies Act 2006. and it also a Registered Charity. Organisational Structure Responsibility for the general policy, strategy and well being of the Society rests with the Board of Management who are {excluding the non voting members) the Trustees of the Society. The Members of the Board of Management in 2024 were: Mr S Ackrill, Elected member and Board Chairman Mr D Barr, Elected member Mr N Wallis, Elected member Mr P Frankel, Elected member Mr S Coventry- Co-opted Mr S Pallett, Co-opted Remuneration Policy The Societys aim is to ensure that its levels of remuneration for key management personnel are equitable and will enable it to attract, retain and motivate individuals with the qualities, experience and skills needed to fulfil the Societys objectives. The basis of the policy is that each employee should be paid in line with market rates for comparable positions, balanced by affordability to a relatively small not for profit organisation. Trustees are unremunerated but may claim reasonable expenses. Page 2
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 5r34 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, Governance and Management (continued) Risk Management The Trustees have given consideration to the major risks to which the Charity was exposed and satisfied themselves that systems or procedures were in place in order to manage those risks. Risks are identified and assessed and appropriate controls were established throughout the year. Particular emphasis was placed over the reporting period on ensuring the foundations of good governance, sound employment practice and the general Health & Safety well being of employees, visitors and contractors. The main risk identified is that of financial risk. During the year the revenue from the letting of the Showground has been optimised and all overheads have been monitored and kept to a minimum. Objectives and Activities The Objects for which the Society is established. as set out in the Memorandum and Articles of Association, are: To promote, advance and improve for the public benefit agriculture, horticulture, forestry and rural crafts and skills in all their branches and forms to encourage interest, skill and industry in agriculture, horticulture. forestry, rural crafts and skills and all trades, crafts, businesses and professions connected therewith. To promote. advance and improve the education of the public in matters connected with agriculture. horticulture, forestry, rural businesses, crafts and skills. To educate the public in the need to preserve the countryside and wildlrfe thereof for the public benefit. In part, this has been achieved by the holding of shows for the exhibition of livestock, farm produce, horticultural produce. machinery, implements, animal feedstuffs, fertilisers, seeds and other things appertaining to agriculture, for the encouragement of interest, skill and induslry in agriculture, horticulture. forestry, rural crafts and skills and in all trades, crafts, and educational materials and techniques connected with agriculture and the preservation of the countryside and in connection with such shows to judge and award prizes. The Objects are kept under review to reflect changes in agriculture, rural businesses and the countryside. Public Benefit The Trustees have referred to the guidance in the Charity Commission's general guidance on Public Benefit when reviewing our aims and objectives and in planning our future activities to ensure that the Society continues to provide considerable public benefit to the wider community. This has been partly met by holding the annual Newbury Show which had many thousands of visitors attending the event. The show gave the public a very tangible connection to agriculture. horticulture, forestry and rural crafts and skills as well as the countryside and its traditions The Ploughing Match and Local On Farm Competitions continued to promote the highest standards of industry and skill in agriculture. The activities undertaken with schools contributed very significantly to the Societys educational object. Page 3
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 6r34 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, Governance and Management (continued) Fundraising The SoCiets fundraising activities are largely administered by employees and volunteers of the Society. The Society has not subscribed to any voluntary fundraising regulator or standards. No complaints were received in the period regarding any fundraising activities. All fundraising activities are kept under review by the Society's management to ensure that vulnerable people are not unduly pressured. or activities are unreasonably persistent. Achievements and Performance The 'usual' main activities of the Society would be to hold the 'Newbury Show,, hold the Society Ploughing Match, run our education programme, and rent the showground to other events to generate further income. Following on from successful years since Covid in 2020 the Board have continued during 2024 with work to stabilise the finances further, lettings for events on the showground remained constant during the year and are still showing an increase of around 25°/o against 2019 (pre Covid). The Board has continued with a planned program of both maintaining and improving the Society's assets, all of the windows in the Chapman building were replaced making the building much more usable. All of the gates around the Main Arena were replaced during the year and other fencing is being repaired I replaced as required. Regular newsletters have continued to be circulated to not just members but also to the wider communities, keeping people up to date as the Society's situation continues to improve. The Board continues to work closely with the local communities through both Chieveley and Hermitage Parish Councils to maintain the harmonious relationship with its neighbours. The Board also continues to work with the authorities with regard to the material illegally deposited on the site. The 2024 year saw the Education activities continue to exceed the pre-covid level of 2019. During the year the Education Officer visited 95 different schools. spent 119 days out of the office on school business I visits, engaged with 4899 pupils and covered 4330 miles. As well as the various workshops and cookery schools there were Design, Make and Market Challenges and the continuation of the successful debating competition between local schools. The highlight of the year was 'Newbury Show,. The focus of the show was very much based around Agriculture with the 'local producers, area dedicated to businesses within 15 miles of the showground proving popular. Feedback received from both Society members and the public alike was very positive with the overwhelming message that the show was maintaining its 'Agricultural Roots, and giving the general public the opportunity to see Agriculture first-hand. Unfortunately, a really bad weather forecast for the Sunday did have an adverse effect on visitor numbers and overall. the show did retum a small financial loss. Later in the autumn a very successful ploughing match was held which was enjoyed by competitors, Society members and the general public alike. Judging of some of the schools, competitions were also able to take place on the day. Page 4
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 7r34 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) Plans for Future Periods With the support of the local communities an application was submitted to West Berkshire Council (WBC) for some easing of the current S106 planning restrictions which, coupled with the more usable 'Society Building,, should enable the Society to increase the lettings on the Showground. The board continues to work with WBC and the amendment of the restrictions has been agreed in principle. A revised legal agreement is currently being drawn up by the WBC legal team and it is hoped this will be in place later in 2025. The Board are pleased to confirm the retum of the Newbury Show in September 2025. Financial Review Review of the Financial Statements The year ended 31 December 2024 resulted in a net surplus of £13,982 compared to a surplus of £136.445 (inclusive of a £46.039 legacy) for the year ended 31 December 2023. The poor weather forecast for the Newbury Show affected attendance income and led to a net deficit for the event. Income from letting the showground continued to be successful and remains essential for the financial viability of the Society. Together with keeping control over costs this enabled a surplus to once again be achieved. Net assets at the year end amounted to £1.666,751 (2023: £1,652,769). Of these. £52,430 are restricted. Unrestricted funds at £1,614,321 include the Showground and the Socievs buildings. The remaining unrestricted funds reflect a further improvement in the working capital of the Society with cash up and debt down having repaid another substantial sum off the loan. Reserves Policy The Board has examined the Charitys requirements for reserves in light of the main risks to the organisation. Its policy has been that the unrestricted funds not invested in tangible fixed assets held by the charity should represent between 114 and 112 of the annual expenditure of the 'Newbury Show,. This policy was based on the perceived potential risks to the Society rf the Show was cancelled (for example, due to bad weather) at short notice, as significant costs would have already been committed and would not be recoverable. Show expenditure in 2024 amounted to £630,000. Unrestricted funds excluding tsngible fixed assets amount to £150,335 representing 23.9 % of Show expenditure. The Board continues to optimise the use of the showground in order to bring reserves up to the target parameters. Land and Property Values An independent valuation of the Showground has not been carried out within the last five years. The Trustees are of the opinion that the value of the Showground and Society Building is in excess of the book value shown in the financial statements. Page 5
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 8r34 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Going Concern The financial statements of the Newbury & District Agricultural Society ('NADAS') for the year ended 31st December 2024 have been prepared on a going concem basis. The Society has made a surplus of £13.982 for the year ended 31st December 2024 and is forecasting a small surplus in 2025. The Board Members continue to focus on maximising revenue from the Showground and minimising overheads to ensure the Society is able to meet all of its liabilities as they fall due and therefore believes the Society can continue for the foreseeable future. Statement of Trustees. responsibilities The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure. for that period. In preparing these financial statements. the Trustees are required to- select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP (FRS 102)" make judgements and accounting estimates that are reasonable and prudent- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going cOnM basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Companys transactions and disclose with reasonable accuracy at any time the financial position of the 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of information to auditors Each of the persons who are Trustees at the time when this Trustees, Report is approved has confimied that: so far as that Trustee is aware, there is no relevant audit information of which the charitys auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitys auditors are aware of that information. Page 6
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 9r34 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Auditors The auditors, James Cowper Kreston Audit. have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by.. S AGkri 6*A¢krI112FRlty2¢Es I51)6 88TIUTC+11 Mr S Ackrill Chair of Trustees Date: 27 May 2025 Page 7
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 10134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY Opinion We have audited the financial statements of The Newbury & District Agricultural Society (the 'charitable company,) for the year ended 31 December 2024 which comprise the Statement of Financial Activities. the Balance Sheet, the 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 charitable companvs affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expendilure for the year then have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of Ihe Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 In auditing the financial statements. we have concluded that the Trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable companls 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 Trustees with respect to going concern are described in the relevant sections of this report. Page 8
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 11134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (CONTINUED) Other infomation The other information comprises the information included in the Annual Report other than the financial statements and our Auditors, Report thereon. The Trustees 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. 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: adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of 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. 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 charitable companys 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 charitable company or to cease operations, or have no realistic altemative but to do so. Page 9
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 12134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (CONTINUED) 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. Irregularities, including fraud, are instances of non-compliance wilh laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Enquiry of management and those charged with govemance around actual and potential litigation and claims- Enquiry of management and those charged with governance to identify any material instances of noncompliance with laws and regulations. Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations., Performing audit work to address the risk of legUlarltieS due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias. 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.or -uklauditorsres onsibilities. This description forms part of our Auditors, Report. Use of our report This report is made solely to the charitable CoMpanS trustees, 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 charitable companls trustees 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 acpt 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. IP. Alexander Peal Bsc FCA DChA (Senior Statutory Auditor) for and on behalf of James Cowper Kreston Audit Chartered Accountants and Statutory Auditor 2 Communications Road Greenham Business Park Greenham Newbury Berkshire RG19 6AB Date: 28 May 2025 Page 10
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 13134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and grants Charitable activities Other trading actiwties Investments 657 18,272 293,358 577,394 10,521 18,929 293,358 577,394 10,521 71,525 389,787 579,062 6,851 Total income 657 899,545 900,202 1.047,225 Expenditure on: Raising funds Charitable activities 125,685 758,240 125,685 760,535 119,467 791,313 2,295 Total expenditure 2,295 883,925 886,220 910,780 Net movement in funds (1,638) 15,620 13,982 136,445 Reconciliation of funds: Total funds brought fOard Net movement in funds 54,068 (1,638) 1,598,701 15,620 1,652,769 13,982 1.516,324 136,445 Total funds carried forward 52,430 1,614,321 1,666,751 1,652,769 Page11
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 14134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY {A Company Limited by Guarantee) REGISTERED NUMBER: 02630481 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tangible assets Investments 12 1,463,986 100 1,493,572 100 1,464,086 1,493,672 Current assets Debtors 13 49,783 150,000 209,855 44,048 150,000 218,885 Investments 14 Cash at bank and in hand 409,638 412,933 Creditors.. amounts falling due wthin one year 15 (144,839) (116,063) Net current assets 264,799 296,870 Total assets less current liabilities 1,728,885 1,790,542 Creditors.. amounts falling due after more than one year 16 (62.134) (137,773) Total net assets 1,666,751 1.652,769 Charity funds Restricted funds Unrestricted funds 17 17 52,430 1,614,321 54,068 1,598,701 Total funds 1,666,751 1,652,769 The entity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 145 of the Charities Act 2011. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regirne. Page 12
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 15134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY {A Company Limited by Guarantee) REGISTERED NUMBER: 02630481 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The financial ststements were approved and authorised for issue by the Trustees and signed on their behalf by: S AGkrilL B4EAtkn127maY25 1606]8([C*II 16m"45 BST ILrrc+11 Mr S Ackrill Chair of Trustees Date: Mr D Barr Trustee 27 May 2025 27 May 2025 The notes on pages 15 to 32 fom part of these financial statements. Page 13
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 16134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Note Cash flows from operating activities Net cash generated by operating activities 20 30,303 167,018 Cash flows from investing activities Dividends, interests and rents from investments Purchase of investments 10,521 6,851 (150,000) Net cash provided byl(used in) investing activities 10,521 {143,149) Cash flows from financing activities Repayments of borrowing (49,854) (127,600) Net cash used in financing activities (49,854) {127,600) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year {9,030) {103,731) 322,616 218,885 Cash and cash equivalents at the end of the year 21 209,855 218,885 The notes on pages 15 to 32 form part of these financial statements Page 14
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 17134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 102) 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Newbury & District Agricultural Society 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. 1.2 Company Status The Newbury & District Agricultural Society is a Company limited by guarantee. In the event of the Society being wound up each member is liable to contribute an amount not exceeding £1. The Society is also a registered charity, number 1003898. If upon the winding up of the company there remains, after the satisfaction of all its debts and liabilities, any property whatsoever the same shall not be paid or distributed among the members of the Society but shall be given to some other charitable institution having objects similar to the Society. 1.3 Income The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured. All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the company where this can be quantified and a third paty is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. Donated services or facilities are recognised when the company has control over the item. the value can be quantified and a third party is bearing the cost. Income from life memberships is recognised in full on receipt. Income from trade stands, rents receivable and sundry income is included on a receivable basis when the Society becomes entitled to the income. Income from social functions is recognised on a received basis. Income from investments is stated at the gross amount receivable. Page 15
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 18134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies {continued} 1.3 Income (continued) Show income relates to admissions, trade stands income. sponsorship. entry fees and car parking. This is included on a receivable basis. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocaled directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the proportion of the asset's use. Support costs are those costs incurred directly in support of expenditure on the objects of the Society. Costs of generating funds are costs incurred in attracting voluntary income. and those incurred in trading activities that raise funds. 1.5 Going concem The Trustees believe the Society V*ill be able to meet its liabilities, contingent or otherwise, as they fall due. over the next twelve months. The Trustees therefore believe the Society can continue for the foreseeable future and as such the financial statements have been prepared on the going concern basis. 1.6 Tangible fixed assets and depreciation Tangible fixed assets are included at cost and are not subject to a policy of revaluation. Tangible fixed assets are capitalised if they cost over £1,000. A review for impaiment of a fixed asset is carried out if events or changes in circumstsnces indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Freehold land Showground buildings Machinery Office furnishings Computer equipment Office premises Not depreciated Over 5 to 50 years on straight line basis 25 % reducing balance 25 % reducing balance Over 3 years on straight line basis Over 25 years on straight line basis Page 16
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 19134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies {continued} 1.7 Operating leases Rentals under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term. 1.8 Taxation The charity is exempt from corporation tax on its charitable activities. 1.9 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 notification of the interest paid or payable by the Bank. 1.10 Pensions costs and other post-retirement benefits The Society contributes to personal defined contribution pension schemes for all qualifying employees who are not opted out. Contributions payable for the year are charged as resources expended in the Statement of Financial Activities. 1.11 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. 1.12 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.13 Deferred Income Deferred income relates to lettings income and deposits for the following financial year and specific donations. 1.14 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 17
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 20134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies {continued} 1.15 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. 1.16 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Critical accounting estimates and areas of judgement The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) had had the most significant effect on amounts recognised in the financial statements. Critical accounting estimates and assumptions- Tangible fixed assets (see note 12) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Resi(iual value assessments consider issues such as the remaining life of the asset and projected disposal values. Page 18
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 21134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Voluntary income Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations 657 3,558 4,215 5,368 3,500 46,039 210 Grants Legacies Gift aid Annual subscriptions and guest badges 14,714 14,714 16,408 Total 2024 657 18,272 18,929 71,525 Total 2023 (50,989) {20,536} (71,525) Income from other trading activities Income from fundraising events Unrestricted funds 2024 Total funds 2024 Total funds 2023 Trade stands 186,025 57,802 56,000 258.699 186,025 57,802 56,000 258,699 182,578 61,048 63,500 254.943 333 Sponsorship Catering concession Showground hire Social functions Sundry income 18,868 18,868 16,660 Total 2024 577,394 577,394 579.062 Total 2023 579,062 579,062 Page 19
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 22134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Deposit account interest 10,521 10,521 6,851 Total 2023 6,851 6,851 Income from charitable activities Unrestricted funds 2024 Total funds 2024 Total funds 2023 Admissions - Show Car parking - Show Stable and penning - Show Programmes and catalogues- Show Ploughing match and local competitions Entry fees 251,734 29,424 1,916 3,029 5,179 2,076 251,734 29,424 1,916 3,029 5,179 2,076 340.590 41,638 2,337 2,439 404 2,379 Total 2024 293,358 293,358 389,787 Total 2023 389,787 389,787 Page 20
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 23134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on raising funds Fundraising trading expenses Unrestricted funds 2024 Total funds 2024 Total funds 2023 Tradestands Showground lettings Social events Support costs Wages and salaries Social security costs Other pension costs 44,232 43,219 117 44,232 43,219 117 35,725 38,455 472 14,246 22,527 717 14,246 22,527 717 20,098 23,755 313 627 627 649 Total 2024 125,685 125,685 119.467 Total 2023 119,467 119,467 Analysis of expenditure on charitable activities Summary by fund type Restricted Unrestricted funds funds 2024 2024 Total 2024 Total 2023 Showground Education 1,638 657 727,886 30,354 729,524 31,011 761,341 29,972 Total 2024 2,295 758,240 760,535 791,313 Total 2023 5,373 785,940 791,313 Page 21
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 24134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Showground Education 565,480 31.011 164,044 729,524 31,011 761,341 29,972 Total 2024 596,491 164,044 760,535 791,313 Total 2023 602,036 189,277 791,313 Analysis of support costs Total funds 2024 Total funds 2023 Wages and salaries Depreciation Recruitment costs 47,594 29,586 217 55,915 30,643 217 Showground expenses Management and admin expenses General support costs Governance costs 33,359 33,759 10,381 9,148 41,014 36,306 16,318 8,864 164,044 189,277 10. Auditors. remuneration 2024 2023 Fees payable to the Companls auditor for the audit of the companvs annual accounts 7,860 7,480 Fees payable to the Companls auditor in respect of: Accounts preparation services not included above 1,380 1,320 Page 22
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 25134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Staff costs 2024 2023 Wages and salaries Social security costs Other pension costs 90,108 2,867 2,509 99,492 1,250 2,595 95,484 103,337 Redundancy payments were made in the year totalling £Nil (2023: £4,469). The average number of persons employed by the Company during the year was as follows: 2024 No. 2023 No. Average number of employees No employee received remuneration amounting to more than £60,000 in either year. The key management personnel of the Society comprises the Trustees. Page 23
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 26134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Tangible fixed assets Office Other Freehold Showground furnishings Office fixed property buildings Machinery & equipment premises assets Total Cost or valuation At 1 January 2024 472,882 1,873,425 107,491 37,940 79,178 100 2,571,016 At 31 December 2024 472.882 1.873,425 107.491 37,940 79,178 100 2,571,016 Depreciation At 1 January 2024 861,970 102,777 37,697 75,000 1,077,444 Charge for the year 27,786 1.179 61 560 29,586 At 31 December 2024 889,756 103,956 37,758 75,560 1,107,030 Net book value At 31 December 2024 472.882 983,669 3.535 182 3,618 100 1,463,986 At 31 December 2023 472,882 1,011,455 4,714 243 4,178 100 1,493,572 The net book value at 31 December 2024 represents fixed assets used for direct charitable purposes of £1,460,186 (2023.. £1.489.151) being freehold land. showground buildings, machinery and other fixed assets. The remaining net book value of £3.800 (2023: £4.421) represents the fixed assets used for management and administration purposes. The market value of the land and buildings is in excess of the net book value. Page 24
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 27134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Debtors 2024 2023 Trade debtors Prepayments and accrued income 41,504 8,279 31,517 12,531 49,783 44,048 14. Current asset investments 2024 2023 Bank deposit account 150,000 150,000 15. Creditors: Amounts falling due within one year 2024 2023 Bank overdrafts Bank loans 17 25,785 719 9,061 2,772 106,485 87 21,513 3,914 5,690 2,094 82,765 Trade creditors Other taxation and social security Other creditors Accruals and defeed income 144,839 116,063 2024 2023 Deferred income at 1 January 2024 Resources deferred during the year Amounts released from previous periods 60,115 83,699 (60,115) 19,065 60,115 (19,065) 83,699 60,115 Bank loans of £15,496 {2023: £11.458) are secured on freehold land owned by the Charity. Page 25
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 28134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Creditors: Amounts falling due after more than one year 2024 2023 Bank loans 62,134 137,773 Bank loans of £53,396 {2023: £118,774) are secured on freehold land owned by the Charity. Page 26
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 29134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Statement of funds Statement of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expenditure Unrestricted funds Designated funds The Society Building 991,546 (24,113) 967,433 General funds General funds 607,155 899,545 {859,812) 646,888 Total Unrestricted funds 1,598,701 899,545 {883,925) 1,614,321 Restricted funds Capital reserve fund Reach fund Other restricted fund 1,870 5,759 400 (373) 1,497 5,759 350 {50) (657) {1,215) Education fund Equine fund 657 46,039 44,824 54,068 657 {2,295) 52,430 Total of funds 1.652,769 900,202 {886,220) 1,666,751 Page 27
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 30134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Statement of funds (continued) Designated funds The Society Building The Society Building was transferred from restricted to designated in 2017 and expenditure relates to depreciation. Restricted funds Capital reserve fund This represents funds restricted and used for the building of office premises on the site. An annual depreciation charge of 4 % of cost is released each year in to the general fund. Reach fund The Reach fund investment grant is to enable the Newbury & District Agricultural Society to explore becoming a knowledge hub to further facilitate the provision of rural based education to its various publics as well as being able to develop knowledge transfer capacity in 'agritech" agricultural and horticultural advancements and developments. The funds will be used to develop the business case for any future infrastructure developments. Education fund The restricted fund for education projects was created in 2008 from funds raised by the West Woodhay Garden Show. Further funds have been raised by Past Presidents, Chairmen and the Education Committee. Equine fund This represents funds restricted for the provision of trophy or trophies with appropriate prizes for local tum out in the private driving class. Page 28
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 31134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Statement of funds (continued) Statement of funds - prior year Balance at 31 December 2023 Balance at 1 January 2023 Income Expenditure Unrestricted funds Designated funds The Society Building 1.015.659 (24,113) 991,546 General funds General funds 492.213 996,236 (881,294) 607,155 Total Unrestricted funds 1,507,872 996,236 (905,407) 1,598,701 Restricted funds Capital reserve fund Reach fund Other restricted fund 2.243 5.759 450 (373) 1,870 5,759 400 (50) (4,950) Education fund Equine fund 4,950 46,039 46,039 8.452 50,989 (5,373) 54,068 Total of funds 1,516,324 1,047,225 (910,780) 1,652,769 Page 29
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 32134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Summary of funds Summary of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expenditure Designated funds General funds 991,546 607,155 54,068 (24,113) (859,812) {2,295) 967,433 646,888 52,430 899,545 657 Restricted funds 1,652,769 900,202 {886,220) 1,666,751 Summary of funds - prior year Balance at 31 December 2023 Balance at 1 January 2023 Income Expenditure Designated funds General funds Restricted funds 1,015,659 492.213 8.452 (24,113) (881,294) (5,373) 991,546 607,155 54,068 996,236 50,989 1.516,324 1,047,225 (910,780) 1,652,769 19. Analysis of net assets between funds Analysis of net assets between funds - current period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investments 1,497 1.462,489 100 1,463,986 100 Current assets 50,933 358,705 409,638 (144,839) {144,839) {62,134) (62,134) Creditors due within one year Creditors due in more than one year Total 52,430 1,614,321 1,666,751 Page 30
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 33134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 19. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior period Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset investments 1.870 1.491,702 100 1.493,572 100 Current assets Creditors due within one year Creditors due in more than one year 52.198 360,735 412,933 {116,063) (116,063) (137,773) (137,773) Total 54,068 1.598,701 1,652,769 20. Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Net income for the period (as per Stalement of Financial Activities) 13,982 136,445 Adjustments for: Depreciation charges Dividends, interests and rents from investments Loss on the sale of fixed assets Increase in debtors 29,586 (10.521) 30,643 (6,851) 36 (16,107) 22,852 (10.274) 7,530 Increase in creditors Net cash provided by operating activities 30,303 167,018 21. Analysis of cash and cash equivalents 2024 2023 Cash in hand 209,855 218,885 Total cash and cash equivalents 209,855 218,885 Page 31
VithalSignatur8 Transaction R8f. K7LB-8QC3-C4X4 27 May 2025 16..06..40 BST IUTC +1) D 1rJ p 34134 THE NEWBURY & DISTRICT AGRICULTURAL SOCIETY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 22. Analysis of changes in net debt At1 January 2024 Cash flows At31 December 2024 Cash at bank and in hand 218,885 (87) (21,513) (137,773) 150,000 (9,030) 70 209,855 {17) (25,785) (62,134) 150,000 Bank overdrafts repayable on demand Debt due within 1 year Debt due after 1 year Liquid investments {4,272) 75,639 209,512 62,407 271,919 23. Operating lease commitments At 31 December 2024 the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows: 2024 2023 Within 1 year Between 2 - 5 years 2,076 1,464 1,356 816 3,540 2,172 24. Related party transactions In the normal course of its business. the Society may enter into transactions with some of the Trustees of the Society, or with firms to which they are connected. All such transactions are on an arms, length basis. During the year, four Trustees received reimbursed expenses which totalled £940 (2023.. £732 Mo Trustees). These costs related to travel, subsistence and repairs and maintenance costs reimbursed. During the year companies controlled by Trustees provided sponsorship of £3.250 to the Society for the Show {2023: £3.250). 25. Controlling party The Society is controlled by the Board of Management Members l Trustees. Details relating to transactions with Board of Management members are stated in the previous note. Page 32