**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:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (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.
Page 7
**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|
Page 8
**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|
|---|---|---|
Page 9
**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.|||
Page 10
**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|
|---|---|---|---|
Page 11
**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|
Page 12
**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.
Page 13