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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

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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

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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
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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.
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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.
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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 SoCiet￿s 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.
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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.
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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 cOn￿M 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.
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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
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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.
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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.
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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 l￿egUlarltieS 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 CoMpan￿S 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 ac￿pt 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.
I￿P.
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
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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 fO￿ard
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
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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.
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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
B4EAtkn127maY￿25 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.
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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
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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.
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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
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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.
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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.
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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
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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
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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
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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
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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.
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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.
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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 defe￿ed 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.
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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.
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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
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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.
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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
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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
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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
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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.
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