REGISTERED COMPANY NUMBER: 02680879 (England and Wales) REGISTERED CHARITY NUMBER: 1008284
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 October 2023
for
Goosnargh and Longridge Agricultural Society Ltd
McDade Roberts Accountants Limited BTC House Chapel Hill Longridge Preston Lancashire PR3 3JY
Goosnargh and Longridge Agricultural Society Ltd
Contents of the Financial Statements for the Year Ended 31 October 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 13 |
Goosnargh and Longridge Agricultural Society Ltd (Registered number: 02680879)
Report of the Trustees for the Year Ended 31 October 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2023. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives remain that of the encouragement and general advancement of the science and practice of agricultural and horticulture in the widest sense.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The main activity in the year was the holding of an agricultural show.
Fundraising, was lower than in 2022, but Sponsorship was much higher following the appointment of a Sponsorship secretary.
The year saw further the Society purchase an additional field, known as the 'dog car parking field'. This was thanks in a large part to donations, and interest free loans received.
The year also saw the hosting of the third Ribble Valley Food & Craft Festival on the Show field, the weather was not great, with high winds causing issues with marquees/gazebos and attendance numbers. May need further consideration of location before committing to this event in 2024.
Donations were made to various charities upon the death of Members, and also to those organisations who provided volunteers on Show day, additionally the Show provided 'Miles for Mitchie' with free use of a marquee and the show field for the purpose of them raising funds, as well as making a donation of £500.
FINANCIAL REVIEW
Financial position
Following a successful Show, the position, excluding the purchase of the new field, donations for that purpose and interest free loans, show a positive position.
The closing position shows funds held of £182,748 (2022: £135,849). Of this £27,918 (2022: £31,718) is in restricted funds relating to the extension work carried out.
Most of the restricted funds are within fixed assets and will unwind as the assets are depreciated each year.
Reserves policy
At the year end the company held reserves for the running costs of the 2024 show as it has become normal practice for reserves to be retained for the following year.
FUTURE PLANS
The trustees are currently planning for the holding of the show in 2024. The proposed date is 6 July 2024.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 1
Goosnargh and Longridge Agricultural Society Ltd (Registered number: 02680879)
Report of the Trustees for the Year Ended 31 October 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
In line with the memorandum and articles of association , each trustee serves for a three year term and is then eligible for re-election. The trustees are keen to maintain levels of experience at the same time as attracting new trustees.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02680879 (England and Wales)
Registered Charity number
1008284
Registered office
316 Blackpool Road Fulwood Preston LANCASHIRE PR2 3AE
Trustees
Mr J Harrison Director Mr J Hesketh Director Mr J Rogerson Director Miss C L Eccles Director Mr D Holden Director Fr H Doyle Director Mr G Kelsall Director Mr C W Gornall Director Mr A P Cowell Director
Independent Examiner
Christine Richards FCA McDade Roberts Accountants Limited BTC House Chapel Hill Longridge Preston Lancashire PR3 3JY
Approved by order of the board of trustees on 13 March 2024 and signed on its behalf by:
Miss C L Eccles - Trustee
Page 2
Independent Examiner's Report to the Trustees of Goosnargh and Longridge Agricultural Society Ltd
Independent examiner's report to the trustees of Goosnargh and Longridge Agricultural Society Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Christine Richards FCA
McDade Roberts Accountants Limited BTC House Chapel Hill Longridge Preston Lancashire PR3 3JY
13 April 2024
Page 3
Goosnargh and Longridge Agricultural Society Ltd
Statement of Financial Activities for the Year Ended 31 October 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 103,781 3,999 571 108,351 57,522 130 57,652 50,699 104,131 154,830 |
Restricted fund £ - - - - 3,800 - 3,800 (3,800) 31,718 27,918 |
31.10.23 31.10.22 Total Total funds funds £ £ 103,781 69,998 3,999 5,635 571 47 108,351 75,680 61,322 59,938 130 581 61,452 60,519 46,899 15,161 135,849 120,688 182,748 135,849 |
31.10.23 31.10.22 Total Total funds funds £ £ 103,781 69,998 3,999 5,635 571 47 108,351 75,680 61,322 59,938 130 581 61,452 60,519 46,899 15,161 135,849 120,688 182,748 135,849 |
|---|---|---|---|---|
| 75,680 | ||||
| 59,938 581 |
||||
| 60,519 | ||||
| 15,161 120,688 |
||||
| 135,849 |
The notes form part of these financial statements
Page 4
Goosnargh and Longridge Agricultural Society Ltd (Registered number: 02680879)
Statement of Financial Position 31 October 2023
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 9 NET ASSETS FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 139,724 39,046 (3,940) 35,106 174,830 (20,000) 154,830 |
Restricted fund £ 27,918 - - - 27,918 - 27,918 |
31.10.23 Total funds £ 167,642 39,046 (3,940) 35,106 202,748 (20,000) 182,748 154,830 27,918 182,748 |
31.10.22 Total funds £ 81,917 55,372 (1,440) 53,932 135,849 - 135,849 104,131 31,718 135,849 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 5
Goosnargh and Longridge Agricultural Society Ltd (Registered number: 02680879)
Statement of Financial Position - continued 31 October 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 13 March 2024 and were signed on its behalf by:
Mr G Kelsall - Trustee
Miss C L Eccles - Trustee
The notes form part of these financial statements
Page 6
Goosnargh and Longridge Agricultural Society Ltd
Notes to the Financial Statements for the Year Ended 31 October 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Land | - not provided |
|---|---|
| Access road | - 20% on reducing balance |
| Buildings and improvements | - 10% on cost |
| Plant and machinery | - 20% on reducing balance |
| Computer equipment | - 33% on cost |
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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Goosnargh and Longridge Agricultural Society Ltd
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.10.23 | 31.10.22 | ||
| £ | £ | ||
| Grants | 2,450 | 2,500 | |
| Rural Payments Agency | 1,549 | 3,135 | |
| 3,999 | 5,635 | ||
| 3. | INVESTMENT INCOME | ||
| 31.10.23 | 31.10.22 | ||
| £ | £ | ||
| Bank Interest | 571 | 47 | |
| 4. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| 31.10.23 | 31.10.22 | ||
| £ | £ | ||
| Fitting up of showfield | 3,592 | 7,883 | |
| Prize money and section expenses | 4,569 | 4,046 | |
| Catering | 2,064 | 2,293 | |
| Show day attractions | 6,039 | 4,590 | |
| Affiliation fees & donations | 815 | 470 | |
| Rosettes, marquees and badges | 25,465 | 21,942 | |
| Support costs | 18,778 | 18,714 | |
| 61,322 | 59,938 | ||
| 5. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.10.23 | 31.10.22 | ||
| £ | £ | ||
| Depreciation - owned assets | 5,329 | 5,331 |
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Goosnargh and Longridge Agricultural Society Ltd
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022.
7. TANGIBLE FIXED ASSETS
| COST At 1 November 2022 Additions At 31 October 2023 DEPRECIATION At 1 November 2022 Charge for Year At 31 October 2023 NET BOOK VALUE At 31 October 2023 At 31 October 2022 COST At 1 November 2022 Additions At 31 October 2023 DEPRECIATION At 1 November 2022 Charge for Year At 31 October 2023 NET BOOK VALUE At 31 October 2023 At 31 October 2022 |
Land £ 47,500 91,054 138,554 - - - 138,554 47,500 Plant and machinery £ 7,537 - 7,537 7,537 - 7,537 - - |
Buildings Access and road improvement £ £ 6,020 71,299 - - 6,020 71,299 6,005 36,897 3 5,326 6,008 42,223 12 29,076 15 34,402 Computer equipment Totals £ £ 235 132,591 - 91,054 235 223,645 235 50,674 - 5,329 235 56,003 - 167,642 - 81,917 |
|---|---|---|
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Goosnargh and Longridge Agricultural Society Ltd
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
7. TANGIBLE FIXED ASSETS - continued
Included in cost or valuation of land and buildings is freehold land of £138,554 (2022 - £47,500) which is not depreciated.
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 31.10.23 | 31.10.22 | ||
| £ | £ | ||
| Other loans (see note 10) | 2,500 | - | |
| Accrued expenses | 1,440 | 1,440 | |
| 3,940 | 1,440 | ||
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||
| 31.10.23 | 31.10.22 | ||
| £ | £ | ||
| Other loans (see note 10) | 20,000 | - | |
| 10. | LOANS | ||
| An analysis of the maturity of loans is given below: | |||
| 31.10.23 | 31.10.22 | ||
| £ | £ | ||
| Amounts falling due within one year on demand: | |||
| Other loans | 2,500 | - | |
| Amounts falling between one and two years: | |||
| Other loans - 1-2 years | 2,500 | - | |
| Amounts falling due between two and five years: | |||
| Other loans - 2-5 years | 7,500 | - | |
| Amounts falling due in more than five years: | |||
| Repayable by instalments: | |||
| Other loans more 5yrs instal | 10,000 | - | |
| The loans are for a 10 year period and interest free. |
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Goosnargh and Longridge Agricultural Society Ltd
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
11. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Fittings Extension Fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Fittings Extension Fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Fittings Extension Fund TOTAL FUNDS |
At 1.11.22 £ 104,131 31,718 135,849 Incoming resources £ 108,351 - 108,351 At 1.11.21 £ 89,366 31,322 120,688 |
Net movement in funds £ 50,699 (3,800) 46,899 Resources expended £ (57,652) (3,800) (61,452) Net movement in funds £ 14,765 396 15,161 |
At 31.10.23 £ 154,830 27,918 182,748 Movement in funds £ 50,699 (3,800) 46,899 At 31.10.22 £ 104,131 31,718 135,849 |
|---|---|---|---|
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Goosnargh and Longridge Agricultural Society Ltd
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 72,792 (58,027) Restricted funds Fittings Extension Fund 2,888 (2,492) TOTAL FUNDS 75,680 (60,519) A current year 12 months and prior year 12 months combined position is as follows: Net At movement 1.11.21 in funds £ £ Unrestricted funds General fund 89,366 65,464 Restricted funds Fittings Extension Fund 31,322 (3,404) TOTAL FUNDS 120,688 62,060 |
Movement in funds £ 14,765 396 15,161 At 31.10.23 £ 154,830 27,918 |
|---|---|
| 182,748 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Fittings Extension Fund TOTAL FUNDS |
Incoming resources £ 181,143 2,888 184,031 |
Resources expended £ (115,679) (6,292) (121,971) |
Movement in funds £ 65,464 (3,404) |
|---|---|---|---|
| 62,060 |
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Goosnargh and Longridge Agricultural Society Ltd
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
11. MOVEMENT IN FUNDS - continued
Fittings Extension Fund
This fund relates to the extension plans to the current buildings/fittings at the showfield. This has been funded by donations and the project has progressed as planned during the year.
12. RELATED PARTY DISCLOSURES
J Harrison (trustee) is also a Farmer that rents the show field.
13. ULTIMATE CONTROLLING PARTY
The company is limited by guarantee, members liability is restricted to £1.
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