Registered numbor: 02646090 Charlty number. 1004255 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limlted by guarantee) CONTEKrs Page Reference and admlnlstratlve detalls of the Company, Its Trustees and advlsers Trustaas. report Independent audltors. report on the flnanclal ststements 9-13 Consolldatsd statement of financlal actlvltles 14 Con8olldat8d balanco sh•ot 15-16 Company balance 8heet 17-18 Con8olldat•d 8tat•mont of cash flows 19 Notes to the Ilnanclal ststements 20-43 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guardntee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2024 Trustees A J Lawford A M Jennings H Long (￿Signed 28 May 2024) T M Dalton K SlcKombe D M Stewart M R m0ntsgu￿C0tt M R Harris S C Dovey JWLowth O J Cook (appointed 28 May 2024) Company reglstered number 02646090 Charfty reglstered number 1004255 Registered office The Showground New Park Brockenhurst Hampshire S042 7QH Company secretary D J Dooley Chalmian A J Lawford Independent audltors Shaw Gibbs {Audii) Limtted ststutory Auditor Union Road Famham Surrey GU97PT Page 1 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company Ilmitsd by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Bankers Lloyds Bank PIC 39 High Stre8t Lymlngton Hampshire S0419ZF Sollcltors Trethowans LLP The Pavlllon 8oUeigh Grange Buslness Park Southampton Hampshlre S030 2AF Investment Adv180rs Evalyn Partners 4th Floor, Cumberland House 15-17 Cumbérland P18ce Southampton Hampshlre S015 28G Page 2 THE NEW FOREST AGRICULTURAL SHOW SOCIETY {A company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 OCTOBER 2024 The Trustees are pleased to present the Societys Annual Report and audited consolidated financial statements for the year ended 31 October 2024, Incorp￿ating its iMK) trading subsldlaries. New Park Events Lld and Camping In The New Forest Ltd. These financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accAJrdance wlth the Finandal Reporting Stsndard applicable in the UK and Republic of Ireland (FRS102) as detailed In the accounting policies. The aim is to link income and expenditure of each area of Ihe Society's activities to give a dearer picture of the Soclety does and the finanaal consequences of these actions. Structure, Govemance and Management Governing Document The Charity is a company limited by guarantee. In(x￿orated on 17 September 1991 arml registered as a charity on 9 January 1992. The Charity was ft)mied under a Memorandum of Assorxation. which estsblished the objects and powers of the charitable company and is govemed under its Artides of Association. The liabilty of the members is fimited to suth contrbt ution as may be required (but not exceedlng £1) to the Charity's assets should it be wEd quality compebtsons and educational athities were spread throughout the Showground. The local community came together to showcase the best ol the New Forest. and Ihere were no major Incidents. Education remained a key focus for the Society. with a record number of visitors engaging with the educational department throughout the year. However. demand for the Little New Park Rangers program has declined in recent ￿rs, leading to a planned pause in 2025. Camping In the New Foresl had a successful year. with a 23% y8ar on year increase in income. After its first year. many lessons We￿ leamed resulting in smoother operattons, fewer inctdents and happier customers. Visitors enjoyed new educational experiences. and feedback Was generally very positi've. Special thanks go to everyone involved, especially the staff, who onc8 again went above and beyond thls year. Flnancial Reviaw The net incoming resources for the yBar totslled £443,618 (2023: £172.820). Th8 net increase in fvnds for the year tolalled £476,862 (2023: £116,782) bringing total reserves at the year end to £2,746,797 (2023: £2,269,935). £60,000 of these reserves relate to a restricted fvnd used for speofic site improvements and the refurbishment of the Mill Buikling, £14,371 retate to a restricted fund for the Sam and Florence Balley Bursary and £10,449 relate to a restricted education fund. New Park Events Limited made a profit of £49.366 (2023: loss of £10,656) in the year, donating £nil (2023: £96,897) to the Charlty. Camping in the New Forest Ltd m*le a profft of £453,832 (2023: £466.245), donating £424,956 (2023: £nil) to the Charity. Pag8 6 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Reserves Pollcy The Board has established a policy whereby the unrestrided funds not committed or invesled in langible fixed assets (free r8serv8s) held by the Charity shoubj be half the averag8 annual gross income. This should currenty equale to about £800,0(Kl. At this bvel, the Board feels that it would be able to continue the current activities of the charity in the event of two consecutive years of poor results due to unforeseen reasons. cancellation, or bad weather. At the end of the period, unrestrlcted r8S8rv8s of the group w8re £2,661,977 (2023: £2.185.113) and free reserves, Gglculated as unrestricted funds less designated funds. intanglble and tanglble fixed assets stood at £2,028.881 (2023- £1,625,316). Investment Powers and Pollcy The Board has considered the most appropriate policy for investing surplus funds and, in view of the volatile markets. has decided to move its investrnents from a mix of UK and overseas equities and bonds to a short- temi money market fund to generate reliable income whilsl preserving cawtal. Our independent financial advisor, Evelyn Partners, has been made aware of the aims of the Charity and they ensure that our managed investrnents cornpty %Mth our policy. Related Parties The Chaiity is a fijll member of the Association of Show and Agricultural Organisations (ASAO). The ASAO provides access to all new and relevant legislation through meetings, conferences and training days and also provides access to other charities involved in the running of similar events. The Chief Executive is currently Chaimian of the ASAO. New Park Events Limtted, a wholty owned subsidiary of the Charity, was established in March 2004 and manages the camping facilities at New Park. Its directors are all board members of the Charity. During the year, the subsidiary company made a gift aid payment of £nil (2023: £96.897), in respect of its profft for the previous period. The company owed the Charlty £167.239 al the year end. Camping In The New Forest Limited. a wholty owned subsidiary of the Charity, ￿mMenced trading in March 2023 and manages ten varled campsites across the New Foresl on behalf of Forestry England. Its directors are all board members of Ihe Charfty. During the year, the subsidiary company made a gift ald payment of £424,956 (2023: £nil), in respect of its profit for the.previous period. The company owed the Charity £66,048 at the year end. Transactions with trustees are disdosed in note 12 of the financFal ststements. Auditors The auditors. Shaw Gibbs. are deemed re-appointed under section 487(2) of the Companles Act 2006. Rlsk Management Risks affecting the Charity are assessed annualty. All Trdentified risks are considered and action is taken to manage and mitigate the problem. The Board review the risk asS&￿Ments and put in place any necessary actions. Fundralslng The Chief Executive organises fundraising events and coordinates the activities of our supporters. The New Forest Agricultural Show Souety does not use professional fundraisers or involve commercial participators. It is rK)t part of any voluntary scheme or standards for regulating fundraising. There have been no complaints about fijndraising activtty during the year. The New Forest Agricultural Show Society does not undertake any direct marketing for the purposes of fundraising in order to ensure that there is no unreasonable intrusion. persistent approathes or undue pressure. No third party fundralsers are used by the Charity. Page 7 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guarantee) TRUSTEES. REpoirr (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Plans for future periods The strategic direction for New Part Campi￿ and education across all three companies has been agreed vlth all stakehold8rs and will be implemented throughout 2025. Disc￿ssIOnS about the future direction of the Show are ongoing wlth a focus on increasing visitor numbers. further reducing costs and enhancing our charitable activfties. Dlsclosure of Infomiation to audrtors Each of the persons who ar8 Trustees at the time when this Twstees. report is approved has confirmed that" so far as that Trustee is aware. there is rK) relevant audit infonvrdtion of whith the charitable group's 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 charitable group's auditors are aware of that Infonnation. On behalf of the Board of Trustees: AJLa (Chair of Trustees) Date: Page 8 THE NEW FOREsf AGRICULTURAL SHOW SOCIETY (A company Ilmfted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE NEW FOREST AGRICULTURAL SHOW SOCIETY Oplnlon We have audited the financial statements of The New Forest Agricultural Show Soaety (the 'parent charftable company,) and its subsidiaries (the 'group') for the year ended 31 October 2024 which comprise the Consolidated statement of financial actiwlies, the Consolidated balance sheel, the Company balanc￿ sheet, the Consolidated statement of cash flows and the related notes. induding 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, induding Financial Reporting Standard 102 The Financial Reporting StanJard appliGqble in the UK and Republic of Ireland, (Unlted Klngdom Generally Accepted Accountlng PractiC8). In our oplnlon the finandal statements: give a true and falr view of the state of Ihe Group's and of the parent charitable company's affa1￿ as at 31 October 2024 and of the Group's incomlng resources and applicatlon of resources, including Its Income and expenditure for the year then ended. have been properly prepared In accordance with Unlted KSngdom Generally Accepted Aecountlng Practice; and have been prepared in accord8nce wlth the requlr8ments of the Companies Acl 2006. Ba8ls for oplnlon We conducted our audit In accordance wilh Intemational Standards on Audiung (UK) (ISAS (UK)) and applicable law. Our responslblllties under those standards are further described in the Audllors, responslbllitles for the audit of the financial ststements section of our report. We are Ind8p8ndent of the Group In accordance With the ethlcal requlrements thal are relevant to our audit of the flnancial statements In the United Kin9dom, includlng the Flnancial Reportlng Council's Ethical Standard, and we have fulfill8d our other ethical responslbilities In accordance with these requirements. We b81ieve that the audit evidence we have obtsined is suffident and appropriate to provide a basls for our opinion. Conclu8lon8 rnlatlng lo golng concern In auditing the finaniaal statements. we have conduded that the Trustees, use of Ihe golng concem basls of accountSng in the preparation of the finandal statements is appropriate. Based on the worf( we have perfomied, we have rK)t Identified any materlal uncertalntles relatlng to events or condltlons that, Individually or collectively. may cast significant doubt on the Group's or the parent charitable companVs abilty to continue as a going Con￿ for a perFod of at least twefve months from ￿en the financlal statements are authorised for issue. Our responsibilitias and th8 responsibilities of the Trust88s with resped to going e￿ICaM are descrfbed In the re￿vant sections of this ￿pOrt. Page 9 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limlted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE NEW FOREST AGRICULTURAL SHOW SOCIETY (CONTINUED) Other Infomiatlon The other information comprises the information Included in the Annual report other than the flnancial statements and our Audltors, report thereon. The Trustees are responslble for the other Infomiation containad within the Annual report. Our oplnlon on the financial statements does not cover the other information and, except to the &xtent olhenNise explicilly stated In our report, we do not express any fomi of assurance conduslon thereon. Our r&sponslblllty Is to read the other infomiation and, In dolng so, consider whether the other infomiation is materially Inconsistent with the finandal statements or our knowledge obtalned In the cours8 of the 8udlt, or otherNlse appears to be mat8rlally mlsst8ted. If we identify such materlal Inconslstencles or apparent materlal misstatemenls, we are requlred to determine whether thls glves rise to a material mlsstatement In the financlal statements themselves. If, based on the work we have performed, we condude that there Is 8 materlal mlsstatement of thls other Infomiatlon, we are required to report that fact. We have nothing to report In thls regard. Oplnlon on other matt•r8 pre8crlbed by the Companle8 Act 2006 In our opinlon, based on the VI￿rk undertaken In tha course of the audit: the Infomiatlon glven Sn the Trustees, Report for the flnandal year for which tha flnanGi81 statements are prepared Is conslstent wlth the financlal ststements. the Trust88s' Report has been prepared in accordance wlth appllcabla legal requlrements. Matters on whlch wa aré roqulrod to report by exceptlon In the Ilght of our knowledge and understanding of the charitable company and Its envlronment obtalned In the cours8 of the audlt, we have rK)t identlfied material ml8Statements In the Trustees, Report. We have nothlng to report In respect of the following matters In relatlon to which Companles Act 2006 requlres us to r8POrt to you If, In our opinion.. the parent charltable company has not kept adequate and sufflclent accountlng records. or returns adequate for our audlt have not been recelved from branches not vislted by us., or the parent charftable company financial statements are not in agreement vAth the accountlng records and retums: or certaln dlsdosures of Trustees, remun8ration spacified by law are not made: or we have not received all the infonnation and explanations we require for our audlt. Page 10 THE NEW FOREST AGRICULTURAL SHOW SOCIErY (A company Ilmited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE NEW FOREST AGRICULTURAL SHOW SOCIETY (CONTINUED) Responslbllities of trustees As explained more fully in the Trustees, responsibilities statemenL the Trustees (who are also the directors of the charitable company for the purposes of ￿panY law) are responsible for the preparation of the financial statements and for being satisfied thal they give a true and fair vtew. and for such intem81 control as the Trustees detemiine is necessary to enable the prepar￿lon of finan(aal ststements that are free from material misstatement, whether due to frdud or error. In preparing the finanaal ststements. the Trustees are responsible for assessing the Group's and the par8nt charitable companvs ability to continue as a going concem. disdosing. as applicable, matters related to going COn￿M and using the going concern basis of accounting unless the Trustees either intend to liquldate the Group or the parent charitable company or to cease operations. or have no realistic altemative but to do so. Page11 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guarantaa) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE NEW FOREST AGRICULTURAL SHOW SOCIETY (CONTINUED) Audltors. rasponslbllltlas for the audlt of tha flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole are free from material mlsstatement, whether du8 to fraud or error. and to Issue an Auditors, report that Includes our oplnlon. Reasonable assurance Is a high level of assurance, but Is not a guarantee that an audlt conducled In accordance wlth ISAS (UK) will always d8t8Ct a material mlsstatement when It exists. Mlsstatements can adse from fraud or error 8nd are con8ldered material If, indlvldually or In the aggregate, they could reasonably be expecled to Influence the economic decisions of users taken on the basls of these financial statements. Irregularltles, Including fraud, are Instances of nonwcompllance wlth laws and regulatlons. We des5gn procedures In Ilne wlth our responslbllltles. outllned above, to detect materlal mlsstatement8 In respect of Irregularities, Includlng fraud. The extent to whlch our procedures are capable of detecilng irr8gularltles, Includlng fraud Is detalled below: We galned an understandlng of the legal and regulatory framework appllcable to the charttable company and the Industry which 5t operates. and considered the risk of acts by the charftable company that were contrary to appllcable laws and regulatlons, Includlng fraud. W8 deslgned audit procedures to respond to the rf8k, recognising that the risk of not detecting a material misstatement due to fraud Is higher than the rlsk of not detecting on8 resulting from error. as fraud may Involve deliberate concealment by, for example, forgery or Intentlonal misrepresentations, or through colluslon. We focused on 18ws and regulatlons whlch could glve rtse to a materfal mlsstatement In Ihe finandal Statements, Includlng, but not limlted to, the Charltles Act 2011, the Companies Act 2006 and UK t8x l@gislatlon. Our tests Included agre81ng the flnanclal ststement dlsclosures to underlylng supportlng documentatlon and enqulrles wlth management, There are Inherent Ilmltatlons In the audit procedures descdbed above and, the further removed non-compllance wlth laws and regulations Is from the events and transactions reflected in the fln8nclal statements, the less Ilkely we would become aware of It. As in 811 our audSts, we also addressed the risk of management OV8rrfde of Int8m81 controls, Including testing joumals and evaluatlng whether there wa8 evldence of blas by the Trustees that r8pr8sented a rlsk of materlal misstatement due to fraud. We also revIev￿d expendSture on a sample basls for any Irregular amounts which are not In line wlth the objects of the charlty. We did not Sdentlfy any key audlt matters relatlng to Irregularltles. Includlng fraud. A further description of our responslbilitles for the audit of the financial ststements is located on the Flnanclal Reporting Council's webslte at: ￿w.frC.o kjauditors nsi This description forms part of our Audltors, report. Page 12 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company Ilmited by guarantee) INDEPENDENT AUDITORS. REPORTTOTHE MEMBERS OF THE NEW FOREST AGRICULTURAL SHOW SOCIETY (CONTINUED) Use of our report This report is made solely lo the charitable companvs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to slate to them in an Auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other Ihan the charitable company and its members, as a body, for our audit work, for this report, or foi the oplnions we have fomed. Mark Dlcklnson FCA (Senlor statutory audltorl for and on behalf of Shaw Glbbs (Audit) Llmltsd Statutory Auditor Union Road Famham Surrey GU9 7PT Date". 21lor aDI Page 13 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company Ilmlted by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2024 As restated Total funds 2023 Restrlcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Note Income from: Donations and legacles Charitable activltles Other trading actNllles Investments Other Income 3,839 1,807,311 4678,164 145.060 3,839 1,807,311 4,678,164 145,060 2.165 1.678.220 3,911,067 86,981 1,194 Total Incorne 6,634,374 6,634,374 5,679,627 Expenditure on: Other trading adivities Charitable activities 4,196,817 1,993,937 4,196,817 1,993,939 3,440,835 2,065,972 Total expendlture 6,190,754 6,190,756 5,506,807 Net (expenditure)Ilncome before net galnsl(losses) on investments Net realised and unrealised gains on investments (2) 443,620 443,618 172,820 33.244 33,244 (56,038) Net movernent in funds (2) 476.864 476,862 116,782 Reconclliation of funds: Total funds brought fornvard Net movement in funds 84,822 {2) 2.185,113 476.864 2,269,935 476,862 2, 153, 153 116.782 Total funds carrled fO￿ard 84,820 2.661.977 2,746,797 2,269,935 Page 14 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limltsd by guarantee) REGISTERED NUMBER: 02646090 CONSOLIDATED BALANCE SHEET AS AT 31 OCTOBER 2024 As restated 2023 2024 Note Fixed assets Intangible assets Tangible assets Investments Investment property 13 7,664 625,432 5.196 554,601 314,176 964,881 14 16 15 964.881 1,597.977 1,838,854 Current assets stocks Debtors Cash at bank and In hand 17 13,118 236,406 2,253,531 15,528 148.592 1,574,232 18 1503.055 1, 738,352 Creditors: amounts falling due wthln one year 19 (1.237.568) (1.064,605) Net current assets 1.265,487 673.747 Total assets less current liabllltles 2.863.464 2,512,601 Creditors: amounts falling due after more than one year 20 (116.667) (242,666) Net assets excludlng penslon asset 2.746.797 2,269.935 Total net assets 2,746,797 2,269,935 Charlty funds Restricted fvnds Unrestricted funds 84,820 2,661.977 84,822 2.185,113 Total funds 2,746,797 2.269,935 Page 15 THE NEW FOREST AGRICULTURAL SHOW socIErY (A company limited by guarantee) REGISTERED NUMBER: 02646090 CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2024 The Trustees acknowledge their responsSbilities for complying with the requirements of the Act with r8sp8Ct to accounting records and prepardtion of financial stalements. The financi81 statements were approved and authorised for I￿Ve by the Trustees and slgned on their behalf by: ord {Chalr of Truste88) Date: The notes on pages 20 to 43 fomi part of these finand81 ststement8. Page 16 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company Ilmited by guarantee) REGISTERED NUMBER: 02646090 COMPANY BALANCE SHEET AS AT 31 OCTOBER 2024 As restated 2023 2024 Note Flxed assets Tangible assets Investments Inv8Stm8nt property 14 16 15 114,628 100 964,881 141,125 314.276 964,881 1,079,609 1,420,282 Current assets Stocks Debtors Cash at bank and In hand 17 18 2,277 291,029 1,095.340 650.031 76,618 1,388,646 726,649 Credltors: amounts falling due within one year 19 (215,922) (213,219) Net current assets 1,172,724 513,430 Total assets less current Ilablllties 2,252.333 1,933, 712 Creditors: amounts falling due after more than one year 20 (40.000) (119,999) Net assets excluding pension asset 2,212,333 1,813,713 Total net assets 2,212,333 1,813,713 Charlty funds Restricted funds Unrestricted funds 22 84,820 2,127,513 84,822 1,728,891 Total funds 2,212,333 1,813,713 The Company's net movement in funds for the year was £398,620 (2023 - £(241.911)). Page 17 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company Ilmited by guarantee) REGISTERED NUMBER: 02646090 COMPANY BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2024 The Trustees acknowledge thelr responsibilities for complying wlth the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. ord (Chalr of Tnjstees) Date: The notes on pages 20 to 43 form part of these financial statements. Page 18 THE NEW FOREST AGRICULTURAL SHOW SOCIErY (A company Ilmfted by guarantee) CONSOUDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2024 As rnststed 2023 2024 Cash flows from operallng actlvhles Net cash generated from operating activitses 479,781 852,298 Cash flows from Investing activities Dividends, interests and rents from Investments Purchase of intangible assets Purchase of tangible fixed assets Proceeds from sale of investments Purchase of investments 145.060 86.981 (4.000) (5,995) (162.963) (143,251) 347N20 64, 775 {65,924J Net cash provlded byl(used In) Imiestlng activities 325,517 (63,414) Cash flows from Ilnancing actlvltles Repayments of borrowfjng {125,999) {q26,001) Net cash used In finandng actlvlties {125,999) {126,001) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 679,299 1,574,232 662,883 911,349 Cash and cash equlvalents at the end of the year 2,253,531 1.574,232 The notes on pages 20 to 43 ftym part of these financaal ststements Page 19 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 General Inforniatlon The New Forest Agricultural Show Society is a charttable company established under Its Memorandum and Articles of Assoclatlon and registered with the Charity Commisslon and Companies House In England and Wales. The principal address is The Showground, New Park, Brockenhurst. Hampshlre, S042 7QH. Accountlng pollclos 2.1 8asl$ of preparatlon of flnanclal stalements The finandal statements have b88n prepared Sn accordance wtih the Charftles SORP {FRS 102) - Accounting and Repo￿ng by Charities: Statement of Recommended Practice applicable to charltles preparing their accounts in accordance with the Financlal Reporting Stsndard applicable in the UK and Republlc of Ireland (FRS 102) (effective 1 January 2019), th8 Flnancial Reportlng Standard appllc8ble In the UK and Republlc of IrelarKI {FRS 102) and the Companies Act 2006. The New Forest Agrf￿JItural Show Sociaty meets the definition of a public b8n8fit entity under FRS 102. Assets and liatrmlities are Initially recognised at hlstorlcal cost or transaction value unless ¢th8rwlse ststed In the relevant accountlng policy. The Consolldated statement of fin8ncl81 advltles {SOFA) aThd Consolldated balance sheet ¢onsolldate the financlal statements of the Company and it8 subsldtary undertaking. The results of the subsldlary are consolldated on a line by line basls. The Company has tsken advantage of the exemption allowed under sectk)n 408 of tha Companies Acl 2006 and has not presented Its own Statement of financlal actlvltles In these financlal statements. Page 20 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng policies {continued) 2.2 Income All income is recognised once the Company has entitlement to the incom8, it is probable that the income will be received and the amount of income recelvable can be measured reliably. Income tsx recoverable in relation to investment income is recognised 8t the time the investrnent incom8 is receivable. Other income is recognised in the period in which it is receivable and to the 8Xt8nt the goods have been provided or on completSon of the servic8. Sale of goods Tumover from the sale of goods is recognised when all of the following conditions are satisfied: - the Company has transferred the significant risks and rewards of ownership to the buyer; the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; - the amount of turnover can be measured reliably; - it is probable that the Company will receive the consideration due under the transaction. and - the costs incurred or to be incurred in respect of the Iransaction c8n be measured reliably. Rendering of sarvices Tumover from a contract to provlde services is recognised in the period in which the services are provided in accordance wlth the stag8 of completion of the contract when all of the following conditions are satisfied: - the amount of tumover can be measured reliably; it is probable that the Company will r8cetve the consideration due under the contract", - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurréd and the costs to complete the contract can ba measured r81iably. 2.3 Expenditure Expenditure is recognised once there Is a legal or constructlve obllgatlon to transfer economic benefrt to a third party. it is probable that a transfer of economic beneflts will be required in settlement and the amount of the obligation can be rneasured rellably. Expenditure on raising funds indudes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable tradlng. Expenditure on charitable acttvities Is incurred on directly undertaking the actlvlties which further the Group's objectives, as well as any associated support costs. All expendlture Is Incluslve of Irrecoverable VAT. 2.4 Interest receivable Interest on funds held on deposit is included when re￿1vable and the amount can be measured reliably by the Group; this is nomially upon notification of the interest paid or payable by the institutlon wlth whom the funds are deposited. Page 21 THE NEW FOREST AGRICULTURAL SHOW SOCIETY {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng pollcles (¢ontlnued) 2.5 Intanglble assets and amortisation Intangible assets are initialty recognised at cosL After recognition. under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impaimient losses. Amortisation Is provided on intangible a￿ts at rdtes Ca1￿lated lo write off the cost of each asset on a straight-line basis over its expected useful lrfe. Amortisafjon Is provkled on the following basis: Computer software % 5 years straight line. 2.6 Tanglble fixed assets and depreciatlon Tangible fixed assets costing £NIL or more are capitalised and recognised when future eojnomic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at (WL After recognition. under the cost model, tangible fixed assets are measured at cost less accumulated deprecaation and any accumulated impaiment losses. All costs incurred to bring a tangibie fixed ass8t into its intended working condition should be induded in the ff￿asurement of cost. Depredation is charged so as to allocate the cost of tsnglble fixed assets less their residual value over their estimated useful lives, . Depreclatlon Is provlded on Ihe fo11th41ng bases: Showground arKI office Le8S8hold improvéments Show equipment Office equipment Campsite equipment Tractors Motor vehicles 10 years straight line. 20 years straight Ilne. 4 years straight line. 34 years straight line. 5-10 years straight line. - 4 years straight line. 4 years straight line. 2.7 Inveslments Fixed asset inv8Stm8nts are a form of finanaal instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the valu8 cannot be measured reliabty in which case it is measured at cost18ss impaimient. Investment gains and losses, whether reafised or unrealised, are combined and presenled as 'Gainsl(Loss8s) on investments. in the Consolidated statement of financial activities. Investrnents in subsidiaries a￿ valued at cosl less provlslon for ImpairnienL 2.8 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes 811 direct costs and an appropriate proportion of fixed and variable overtwds. Page 22 THE NEW FOREST AGRICULTURAL SHOW SOCIErY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng pollcles {contlnued) 2.9 Debtors Trade arKI other debtofs are recognised at the settlement amount after any trade dis￿Unt offered. Prepayments are valued at the amount prepaid net of any trade dis(*Junts due. 2.10 Cash at bank and In hand Cash at bank and in hand indudes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition CY opening of the deposit or similar aGcounL 2.11 Llablllties and provislons Liabilities are r8cognised 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 setuement, and the amount of the setdement can be estimated reliably. Liabiliiies are recognised at the amount that the Company anticFpat8S it will pay to settle the debt or the amount it has received as a(fvanced payments for the goods or services it must provide. Provisions are measured at the best eslimats of the amounts required to settle the obligation. Where the effect of the time value of trKJney is material. the provision is based on the present vatU8 of those amounts. discounted at the pre-tsx discount rate that rellects the risks specific lo the liability. The unwtnding of the discount is recognised in the Consolidated statement of finanaal activities as a finance cost. 2.12 Flnanclal Instruments The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instrum8nls are initially recognised at transaction value and subsequently measured at their settlem8nt value ¥4rylh the exception of bank loans which are subsequently measured at amrtised cost using the effective interest method. 2.13 Operating leases Rentsls paid under operating leases are charged to the Consolidated statement of financial activities on a straight4ine basis over the lease term. 2.14 Pensions The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year. Page 23 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng pollcles {contlnued) 2.15 Fund accountlng General funds are unresblcted funds which are available for use at the dlscretlon of the Trustees In fijrtherance of the general objectives of the Group and which have not been designated for other purposes. Restricted funds are funds which are to be used In accordance with specJffc restrictions imposed by donors or which have been ralsed by the Group for particular purposes. The costs of raising and admlnlstering 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 8tstements. Investment Income, galns and losses are allocated to the 8pproprfate fund. Income from donatlons and1ogacle$ Restrfcted Unrnstslct•d fund8 funds 2024 2024 Totsl fund8 2024 Donatlons 3,839 3,839 Reslricted Unrestrfcted funds funds 2023 2023 Total funds 2023 Donations 560 1,605 2, 165 Incom• from charitabl• actlvities Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Show incom8 1,807,311 1,807,311 q,678,220 Page 24 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Income from other tradlng actlvltles Income from non charitable tradlng actlvltles As restated Tot81 funds 2023 Unrnstrlcted funds 2024 Total funds 2024 Property income Campsite income 85,767 4,592,397 85.767 4,592,397 79,395 3.831,672 4,678.164 4,678,164 3,911,067 Investment incoma Unrestricted funds 2024 Total funds 2024 Rental income Interest and divldends receivable 82,507 62,553 82,507 62,553 Total 2024 145,060 145,060 Resti7cted Unrestricted funds fvnds 2023 2023 Total funds 2023 Rentsl income Interest and dividends receivable 81,990 4,894 81,990 4,991 97 Total 2023 97 86,884 86,981 Page 25 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company Ilmitsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Expendlture on other charltable actlvltles Other tradlng expan8e8 As restat&d Total funds 2023 Unrestrlcted funds 2024 Total funds 2024 Propety costs Education costs Cost of sales Admlnlstratlon 8xp6nses Interest payable Cost of sales staff costs Admlnistratlon stsff costs Admlnlstratlon depreclatlon 56,204 25,873 2,256,801 260,328 11,438 935,573 584,742 65,858 58,204 25,873 2.256,801 260,328 11,438 935,573 584,742 65,858 27,945 27,546 1,823, 725 274,653 12,845 855,692 375,089 43,340 4,196,817 4,196,817 3,440,835 Page 26 THE NEW FOREST AGRICULTURAL SHOW SOCIE {A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Analysls of expendlture on charftable actlvltles Summary by fund typa Restrlcted Unrestrlcted fund8 funds 2024 2024 Total 2024 Show costs 1,993,937 1,993,939 As restated Restrfcted Unrestricted As rnstated funds funds Total 2023 2023 2023 Show costs 57 2,085,915 2.065,972 Analysls of •xpandlturn by actlvltle8 Actlvltles undertaken dlrectly 2024 Support costs 2024 Total funds 2024 Show costs 1,319,781 674,158 1,993,939 As r8Stat8d Actlvltles As restated As restated undertaken Support Tot81 dlrectly costs funds 2023 2023 2023 Show costs 1,467. 788 598. 184 2,065,972 Page 27 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A cornpany limited by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Analysls of expendlture by aGtlvltles (Continued) Analysls of dlrect costs As reststsd Total fvnds 2023 Show Income 2024 Totsl fvnds 2024 Staff costs Support costs 118,464 1,201,317 118,464 1201,317 119,643 1,348, 145 1.319.781 1.319,781 1.467,788 Analysis of support costs As restated Total funds 2023 Show Income 2024 Total funds 2024 Staff costs Support costs Govemance costs 383.775 274,352 16,031 383,775 274.352 16,031 276,965 301,518 19,701 674,158 674,158 598, 184 10. Audltors. remuneratFon - consolldated 2024 2023 F88s payabla to the CompanWs auditor for th8 audit of the CoMpan￿S annual accounts 27.532 25,203 Fees payable to the Companvs auditor in respect of. All non-audit services rK)t induded above 1,500 4.627 Page 28 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 11. Stsff cosls Group Company Group As restated Company As r8St8ted 2024 2023 2024 2023 Wages and salaries Sodal securfty costs Contrfbution to defined contrlbutk)n pension schemes 1,813,595 159,326 1.495,001 95,617 425,467 48.225 342,247 29,920 49.633 36,771 28,547 24,441 2,022,554 1.627.389 502,239 396,608 Th8 average number of persons employed by the Ccmpany during the year was as follow8: Group 2024 No. Group 2023 Company 2024 Company 2023 No. Management and 8dminlstr8tion 72 65 15 15 The number of employees whose employee b8n8fits (excluding employer pensSon costs) exceeded £60,000 was: Group 2024 Group 2023 No. In the band £60,001- £70.000 In the band £70,001- £80.000 In the band £80,001- £90.000 Durfng the year key management recelved remuneratAon {Indudlng employer penslon ￿Sts) of £278,482 (2023: £161,353). 12. Trusteos. romuneratlon and expenses Durlng the year, no Trustees received any ￿mUneration or other benefits (2023 - £NIL). Durfng the year ended 31 October 2024, no Trustee expenses have been incurred (2023- £NIL). The chaiity has purchased insurance frir the trustees and officers of the charlty agalnst Ilability arlsing for Vorongful acts In relation to the charity. The cost of this insurance amounts trj £864 (2023: £3,464). Remuneration is pald to Mrs JL Dooley who is Ihe wife of Mr DJ Dooley, a memb8r of key management Personnel. This totalled £18,748 (2023: £16.829). Page 29 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 13. Intangible assets Group Computer softwar• Cost At 1 November 2023 Additions 5,996 4,000 At 31 October 2024 9.996 Amortlsatlon At 1 November 2023 Charge for the year 800 1,532 At 31 October 2024 2.332 Net book value At 31 October 2024 7,664 At 31 October 2023 5, 196 Page 30 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company Ilmltsd by guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 14. Tanglble flxed assets Group Leasehold property Improvements Showgroup and offl¢e Motor vehlcles Campslte equlpment Office equlpment Show equlpmenl Tractors Total Cost or valuallon At l November 2023 Additions Disposals 645.977 533,691 10,751 21,500 2,300 27,895 9,683 (1000) 28,422 137,924 46.025 820 307,095 1A85 1.610.605 162,963 {1.800) At 31 October 2024 645,977 544442 23,800 35,778 166,346 46.845 308,580 1,771.768 Depreclatlon At 1 November 2023 Charge for the y88r 523,088 21,714 268,834 26,894 19,750 990 2,712 7,912 2,318 14,238 40,238 2,690 199.064 15.894 1.056,004 90,332 At 31 October 2024 544.802 295.728 20,740 10,624 16,556 42,928 214,958 1.146,336 Net book value At 31 October 2024 101,175 248,714 3,060 25,154 149.790 3.917 93,622 62&432 At 31 October2023 122,889 264.857 1,750 25,183 26,104 5.787 10&031 &54.601 Page 31 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 14. Tanglble fixed assets Icontlnued) Company Showground and offica Office Tractors equipment Show equipment Total Cost or valuatlon At 1 November 2023 645,977 5.500 44,659 166.458 862.S94 At 31 October 2024 645,977 5.500 44.659 166,458 862,594 Depreciation At 1 November 2023 Charge for the year 523.088 21.714 40,011 152,870 2,435 721,469 26,497 At 31 October 2024 544.802 5,500 42.359 155.30S 747,966 Net book value At 31 October 2024 101,175 2,300 11,153 114.628 At 31 Octob8r 2023 122,889 4.648 13.588 141,125 Page 32 THE NEW FOREST AGRICULTURAL SHOW SOCIErY {A company1Smlted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 15. Investment property Group Leasehold Investment property Valuatlon At 1 November 2023 964.881 At 31 October 2024 964,881 Company Leasehold Investment property Valuatlon At 1 November 2023 964,881 At 31 October 2024 964,881 The valuations were made by New Park Consultancy on 31 O￿Ober 2023 and revlewed by the Trustees for 31 October 2024 on an open market value for existing use basis. Th8 Trustees agreed there to be no changes to the valuallon at the year end. Page 33 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 16. Flxed asset Investments Llsted Investments At 1 November 2023 Disposals Revaluations 314,176 {347,420) 33,244 Net book value At 31 October 2024 At 31 October 2023 314,176 Durfng the year, the listed Investments were sold and Invested Into an account whlch Is classlfied under C8sh at b8nk and In h8nd. Inva8tment8 In sub8ldlary Llsted companlas Investments Total Company Cost or valuatlon At 1 November 2023 Disposals Revaluatlons 100 314,176 (347,420) 33,244 314,276 {347,420) 33,244 At 31 October 2024 100 100 Net book value At 31 October 2024 100 100 At 31 October 2023 100 314.176 314,276 Page 34 THE NEW FOREST AGRICULTURAL SHOW SOCIErY (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Prfnclpal subsldlarles The following were subsidiary undertakings of the Company: Names Company number Registered office or principal Class of place of business shares Holding New Park Events Limited 05083451 The Showground, New Part. Brcd(enhursc Hampshire. S042 7QH The Show Office, New Parf( Fami. Lyndhurst Road. BrockenhursL England, S042 7QH Ordinary 100% Camping In The New Forest 14159381 Ltd Ordinary 100% The financial results of the subsidiaries for the year were". Names Income Expenditure ProfiU(Loss) I Surplusl {Deficit) for the year Net assets New Park Events Limited Camping In The New Forest Ltd 412.327 4,218,844 362,961 3,765.012 49,366 453.832 39.443 495.121 17. Stocks Group 2024 Group 2023 Company 2024 Company 2023 Stock 13.118 15,528 2,277 Page 35 THE NEW FOREST AGRICULTURAL SHOW SOCIErY {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 18. Debtor8 Group Company Group As reststed Company As restated 2024 2023 2024 2023 Due wlthln one year Trade debtors Amounts owed by group undertaklngs Other debtors Prepayments and accrued income 31,643 52,879 9,940 233,287 4,464 43,338 43,080 580, 770 6,714 19,467 6,714 88,999 200,299 236,406 148,592 291,029 650,031 19. Crndltors., Amounts falllng due wlthln one year Group Comp8ny Group As restalad Company As restat8d 2024 2023 2024 2023 Bank loans Trade creditors Other tsxation and sodal secuiity Other credltors Accruals and defeTred Income 126.000 144,767 224,935 4,030 737,836 126,000 232,344 68,432 153, 175 484,654 80,000 16,479 9,851 80,000 62.179 11,264 13,169 46,607 109,592 1,237,568 1,064.605 215,922 213,219 20. Creditors: Amounts falling due after more than one year Group 2024 Group 2023 Company 2024 Company 2023 Bank k)ans 116,667 242,666 40,000 119,999 At the year end a debenture deed was in place as seojiity for the loan. A commercial decision was made after the year end to fully repay the Coronavirus Business Interruption Loan. This loan was repald In Febru8ry 2025. Page 36 THE NEW FOREST AGRICULTURAL SHOW SOCIETY {A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 21. Prlor year adjustments In the previous year £97.587 of shop revenue earned In the year was incorrectly recognlsed within deferred Income which has been released to prior year revenue. In addltlon. further costs of £74.419 have been identified in 2024 which should have been recognised in the previous year. The resulting effect on net movement in funds is an increase of £23,168 in the prior year. Page 37 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 22. Statèment of funds Statemènt of funds - current year Balance at 1 November 2023 Balance at Galnsl 31 October {Losses) 2024 Income Expendltura Unrestrlcted funds General Funds 2,185,113 6,634.374 (6,190,754) 33,244 2,661,977 Re8trlct6d funds Mill Buildlng Fund Sam and Florence Balley Bursary Fund Education Fund 60,000 60,000 14,373 10,449 (2) 14,371 10,449 84,822 {2) 84,820 Total of funds 2.269,935 8,634,374 (6,190,756 33,244 2,746,797 Mlll Bulldlng Fund A SEEDA grant recelved as a contrlbutlon towards the renovatlon of the Mlll Bulldlng, whlch has baan capllalised as an Investment propety asset. The Sam and Florence Balley Bur8ary The Sam and Florence Bailey Bursary fund was set up in memory of Samantha and Florence Balley wlth the alm of supporting young people In agricultural educatlon. The monies received will be used to fund students att8nding agricullural college or short courses wlth the alm of enabllng them to begln or benefit career In agriculture. EdurAtion fund Donatlons were recelved as a contlbutlon towards education projects. Page 38 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 22. Statoment of funds {contlnuad) Ststsment of funds - prlor year Balance al l November As r6Stat8d As restafed 2022 Income Expenditure Sa18nc8 at G8lnw 31 Octob8r (Losses) 2023 Unrestrfcted funds General Funds 2,068,936 5,678,971 (5,506, 756) (56,038) 2, 185, Iq3 Balance 8t 1 November As rest8t8d As restated 2022 Income Expendlture B818nce al Gain￿ 31 October (Losses) 2023 Rastrlctad funds Mlll Bulldlng Fund S8m and Florence Balley Bursary Fund Education Fund 60,000 60,000 13,773 10,449 657 (57) 14,373 10,449 84,222 657 (57) 84,822 Total of fund8 2, 153, 158 5,679,628 (5,506,813) (56,038) 2,269,935 23. Summary of funds Summary of funds - current year Balance at 1 November 2023 Balance at Galnsl 31 October (Losses) 2024 Income Expendlture General funds Resiricted funds 2,185,113 84.822 6,634,374 {6,190,754 (2) 33,244 2,661,977 84,820 2,269,935 6,634,374 (6,190,756) 33,244 2,746.797 Page 39 THE NEW FOREST AGRICULTURAL SHOW SOCIETY {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER2024 23. Summary of funds (Contlnued) Summary of funds - prior year Balance at l November As restated As restated 2022 Income Expenditure Balance al Gains/ 31 October (Losses) 2023 General funds Restricted funds 2,068,936 84,222 5,678.971 (5.506. 756) 657 (57) (56.038) 2, 185, 113 84,822 2, 153. 158 5,679,628 (5,506,813) (56,038) 2,269,935 24. Analys18 of net assets between funds Analysls of net assets between funds - current period Restricted Unrestrlctsd funds funds 2024 2024 Total funds 2024 Tangible fixed assets Inlanglble fixed assets Investment property Cu￿ent assets 625,432 625,432 7.664 7,664 904.881 964,881 2,478,235 2,503,055 {1,237,568) (1,237,568) (116,667) {116,667) 60.￿0 24,820 Creditors due wlthln one year Creditors due In more than one year Total 84,820 2,661,977 2,746,797 Page 40 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Analysls of net a&8ets between funds (conllnued) Analys18 of net assets batw•en funds - prfor perfod Restrtcted UnrestriGtad fvnds fvnds 2023 2023 Total funds 2023 Tangible fixed assets Intanglble fixed a&sets Flxed asset Investments Investment property Current assets Credltors due wlthln one year Credltors due In more than one year 554.601 554,601 5.196 5,196 314,176 314,176 904,881 964.881 1,713,530 1, 738.352 (1.064.605) (1,064,605) (242,666) (242,666) 24,822 Total 84,822 2,185,113 2,269,935 25. Reconclllatlon of net movement In funds to net cash flow from operallng actlvltles Gmup Group As restated 2024 2023 Net income for the perlod (as per Statemenl of Financial Activities) 476.862 116,782 Adjustment8 for. Depredatlon charges Amortlsation charges (Galns)Ilosses on investments Dlvldends, Interests and rents from Investments Loss on the sale of fixed assets Decreasel(Increase) In stocks Increase In debtors Increase In creditors 90,332 66,832 1,532 799 (33,244) 56,038 {145,060) (86,981) 1,013 2,038 2,410 (15,528) (87.814) (102, 194) 173,750 817,609 Net cash provlded by operatlng actmtles 479,781 855,395 Page 41 THE NEW FOREST AGRICULTURAL SHOW SOCIETY {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 26. Analysls of cash and cash aqulvalents Group 2024 Group 2023 Cash In hand 2,253,531 1,574,232 Total cash and cash equlvalent$ 2,253,531 1,574,232 27. Analysls of changes In net debt At1 November 2023 Cash flows At31 October 2024 Cash at bank and In hand Debl due wlthln 1 year Debt due after 1 yéar 1,574,232 (126,000) (242,666) 679,299 2,253,531 (126,000) (116,667) 125,999 1,205,566 805,298 2,010,864 28. Contlngent Ilabllltle8 The charltable company has a commltment under Its lease wlth the Forestry Commlsslon to maintain the bulldlngs on the New Park sile. P•nslon commltments The group operates a defined contrlbutlon pension scheme. The assets of the scheme are held separately from those of the group In an Independently admlnlslered fund. The penslon cost charge represents contributions payable by the group to the fund and amounted to £50.033 (2023 - £36,371). At the period end there were contributions payable to the fund and included in creditors of £4,030 (2023: £22.790). Page 42 THE NEW FOREST AGRICULTURAL SHOW SOCIETY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 30. Operating lease commitments Lessee At 31 October 2024 Group arKJ the Company had commitrnents to make future minimum lease payments under non-can￿llabk operating leases as follows: Group 2024 Gnwp Company 2023 2024 Company 2023 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 461.355 1,838,579 3,930,672 452,892 1. 789.879 4,460,077 116,800 467,200 2,822,666 116,800 467,200 3,056.267 6,230.606 6, 702,848 3,406,666 3.640.267 Lessor The operating leases represent leases of properties to third parties. The leases are negotiated over various terms and after the inilial lease tenn, the residential properties move onto a rolling lease. Al 31 0￿er 2024 the Group and the Company had contracted with tenants ft)r the following minimum lease payments: Group 2024 Gmup 2023 Company 2024 Company 2023 Not later than 1 year Later than 1 year and not later than 5 years 63,935 79,333 81.740 92,045 63,935 79.333 81.740 92,045 143.268 173. 785 143,268 173. 785 31. Related party transactions During the year the company purchased services of £2,768 from New Park ￿$VItanCY Ltd, of ￿1¢h O Cook is a director. Page 43