``` REGISTERED COMPANY NUMBER: 02682537 (England and Wales) REGISTERED CHARITY NUMBER: 1008403 ``` ## **`Report of the Trustees and`** ## **`Unaudited Financial Statements`** ## **`for the Year Ended 31st December 2021`** ## **`for`** ``` Royal Lancashire Agricultural Society ``` ``` Egan Roberts Limited Accountants Suite 46 Manor Court Salesbury Hall Road Ribchester Lancashire PR3 3XR ``` ``` Royal Lancashire Agricultural Society ``` ## **`Contents of the Financial Statements for the Year Ended 31st December 2021`** ||**`Page`**| |---|---| |**`Report of the Trustees`**|`1 to 2`| |**`Independent Examiner's Report`**|`3`| |**`Statement of Financial Activities`**|`4`| |**`Balance Sheet`**|`5 to 6`| |**`Notes to the Financial Statements`**|`7 to 11`| |**`Detailed Statement of Financial Activities`**|`12`| ``` Royal Lancashire Agricultural Society ``` ## **`Report of the Trustees for the Year Ended 31st December 2021`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,present their reportwiththefinancialstatementsofthecharityfortheyearended31stDecember2021.Thetrustees have adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimited company, limited by guarantee, as defined by the Companies Act 2006. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number`** ``` 02682537 (England and Wales) ``` ## **`Registered Charity number`** ``` 1008403 ``` ## **`Registered office`** ``` Suite 26 Manor Court Salesbury Hall Road Ribchester Lancashire PR3 3XR ``` ## **`Trustees`** ``` P Clarke Director Mrs N Gornall Farmer C G Mustoe Company Director Mrs A J Parfitt Inspector P C R Street Company Director J M Holtby Retired ``` ## **`Independent Examiner`** ``` Egan Roberts Limited Accountants Suite 46 Manor Court Salesbury Hall Road Ribchester Lancashire PR3 3XR ``` ## **`Bankers`** ``` Barclays Bank plc 38 Fishergate Preston Lancashire PR1 2AD ``` ``` Approved by order of the board of trustees on ............................................. and signed on its behalf by: ``` ``` Page 1 ``` ``` Royal Lancashire Agricultural Society ``` ## **`Report of the Trustees for the Year Ended 31st December 2021`** ``` ........................................................................ C G Mustoe - Trustee ``` ``` Page 2 ``` ## **`Independent Examiner's Report to the Trustees of Royal Lancashire Agricultural Society`** ## **`Independent examiner's report to the trustees of Royal Lancashire Agricultural Society ('the Company')`** ``` IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended 31st December 2021. ``` ## **`Responsibilities and basis of report`** ``` Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act 2006 ('the 2006 Act'). ``` ``` Havingsatisfiedmyselfthatthe accountsof the Companyarenot requiredto be auditedunderPart16 of the 2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your charity'saccountsascarriedoutundersection145oftheCharitiesAct2011('the2011Act').Incarrying out myexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionundersection145(5)(b) of the 2011 Act. ``` ## **`Independent examiner's statement`** ``` Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbe a memberof a listedbody.I can confirmthatIamqualifiedtoundertaketheexaminationbecauseIamaregisteredmemberofF.C.A. which is one of the listed bodies. ``` ``` Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnection 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)).` ``` Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be reached. ``` ``` Keith Roberts F.C.A. Egan Roberts Limited Accountants Suite 46 Manor Court Salesbury Hall Road Ribchester Lancashire PR3 3XR ``` ``` Date: ............................................. ``` ``` Page 3 ``` ## **`Royal Lancashire Agricultural Society`** ## **`Statement of Financial Activities for the Year Ended 31st December 2021`** |||**`2021`**|`2020`| |---|---|---|---| |||**`Unrestricted`**|`Total`| |||**`fund`**|`funds`| ||`Notes`|**`£`**|`£`| |**`INCOME AND ENDOWMENTS FROM`**|||| |`Donations and legacies`||**`6,566`**|`759`| |`Activities for generating fund`|`2`|**`336,645`**|`(6,223)`| |`Other income`||**`3,205`**|`517`| |**`Total`**||**`346,416`**|`(4,947)`| |**`EXPENDITURE ON`**|||| |`Raising funds`||**`246,826`**|`4,055`| |`Other`||**`3,134`**|`1,550`| |**`Total`**||**`249,960`**|`5,605`| |**`NET INCOME/(EXPENDITURE)`**||**`96,456`**|`(10,552)`| |**`RECONCILIATION OF FUNDS`**|||| |**`Total funds brought forward`**||**`35,333`**|`45,885`| |**`TOTAL FUNDS CARRIED FORWARD`**||**`131,789`**|`35,333`| ``` The notes form part of these financial statements ``` ``` Page 4 ``` ## **`Royal Lancashire Agricultural Society`** ## **`Balance Sheet 31st December 2021`** |||**`2021`**|`2020`| |---|---|---|---| |||**`Unrestricted`**|`Total`| |||**`fund`**|`funds`| ||`Notes`|**`£`**|`£`| |**`CURRENT ASSETS`**|||| |`Debtors`|`6`|**`9,610`**|`7,236`| |`Cash at bank and in hand`||**`125,654`**|`35,388`| |||**`135,264`**|`42,624`| |**`CREDITORS`**|||| |`Amounts falling due within one year`|`7`|**`(3,475)`**|`(7,291)`| |**`NET CURRENT ASSETS`**||**`131,789`**|`35,333`| |**`TOTAL ASSETS LESS CURRENT`**|||| |**`LIABILITIES`**||**`131,789`**|`35,333`| |**`NET ASSETS`**||**`131,789`**|`35,333`| |**`FUNDS`**|`8`||| |`Unrestricted funds`||**`131,789`**|`35,333`| |**`TOTAL FUNDS`**||**`131,789`**|`35,333`| ``` The charitablecompanyis entitledto exemptionfromauditunderSection477of the CompaniesAct2006 for the year ended 31st December 2021. ``` ``` The membershavenot requiredthe companyto obtainan auditof its financialstatementsfor the year ended 31st December 2021 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 ``` ``` continued... ``` ``` Page 5 ``` ## **`Royal Lancashire Agricultural Society`** ## **`Balance Sheet - continued 31st December 2021`** ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable companies subject to the small companies regime. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on ............................................. and were signed on its behalf by: ``` ``` ............................................. C G Mustoe - Trustee ``` ``` ............................................. P Clarke - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 6 ``` ``` Royal Lancashire Agricultural Society ``` ## **`Notes to the Financial Statements for the Year Ended 31st December 2021`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102, havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS 102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard applicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements have been prepared under the historical cost convention. ``` ## **`Income`** ``` All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have been allocated to activities on a basis consistent with the use of resources. ``` ## **`Taxation`** ``` The charity is exempt from corporation tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity. Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted purposes. ``` ``` Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial statements. ``` ## **`Hire purchase and leasing commitments`** ``` RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitiesona straight line basis over the period of the lease. ``` ## **`2. ACTIVITIES FOR GENERATING FUND`** |`Ticket sales`
`Concessions`
`Sponsorships`
`Trade stands`
`Show jumping`
`Craft stalls`
`Food hall`
`Ladies marquee`
`Carried forward`|**`2021`**
`2020`
**`£`**
`£`
**`163,273`**
`(270)`
**`14,575`**
`(335)`
**`63,039`**
`(500)`
**`80,742`**
`(4,456)`
**`2,151`**
`-`
**`3,052`**
`(152)`
**`3,230`**
`(270)`
**`6,583`**
`(240)`
**`336,645`**
`(6,223)`| |---|---| ``` continued... ``` ``` Page 7 ``` ``` Royal Lancashire Agricultural Society ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31st December 2021`** ## **`2. ACTIVITIES FOR GENERATING FUND - continued`** |`Brought forward`
**`NET INCOME/(EXPENDITURE)`**
`Net income/(expenditure) is stated after charging/(crediting):`
`Hire of plant and machinery`|**`2021`**
`2020`
**`£`**
`£`
**`336,645`**
`(6,223)`
**`336,645`**
`(6,223)`
**`2021`**
`2020`
**`£`**
`£`
**`9,679`**
`-`| |---|---| ## **`3. NET INCOME/(EXPENDITURE)`** ## **`4. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31stDecember2021nor for the year ended 31st December 2020. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31stDecember2021norfortheyear ended 31st December 2020. ``` ## **`5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** ||`Unrestricted`| |---|---| ||`fund`| ||`£`| |**`INCOME AND ENDOWMENTS FROM`**|| |`Donations and legacies`|`759`| |`Activities for generating fund`|`(6,223)`| |`Other income`|`517`| |**`Total`**|`(4,947)`| |**`EXPENDITURE ON`**|| |`Raising funds`|`4,055`| |`Other`|`1,550`| |**`Total`**|`5,605`| |**`NET INCOME/(EXPENDITURE)`**|`(10,552)`| |**`RECONCILIATION OF FUNDS`**|| |**`Total funds brought forward`**|`45,885`| ``` continued... ``` ``` Page 8 ``` ``` Royal Lancashire Agricultural Society ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31st December 2021`** ## **`5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`** |**`TOTAL FUNDS CARRIED FORWARD`**
**`6.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade debtors`
`VAT`
`Prepayments`
**`7.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade creditors`
`VAT`
`Accrued expenses`
**`8.`**
**`MOVEMENT IN FUNDS`**
`At 1.1.21`
`£`
**`Unrestricted funds`**
`General fund`
**`35,333`**
**`TOTAL FUNDS`**
**`35,333`**
`Net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Unrestricted funds`**
`General fund`
**`346,416`**
**`TOTAL FUNDS`**
**`346,416`**|`Unrestricted`
`fund`
`£`
`35,333`
**`2021`**
`2020`
**`£`**
`£`
**`8,251`**
`596`
**`1,359`**
`-`
**`-`**
`6,640`
**`9,610`**
`7,236`
**`2021`**
`2020`
**`£`**
`£`
**`631`**
`4,875`
**`-`**
`656`
**`2,844`**
`1,760`
**`3,475`**
`7,291`
`Net`
`movement`
`At`
`in funds`
`31.12.21`
`£`
`£`
**`96,456`**
**`131,789`**
**`96,456`**
**`131,789`**
`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
**`(249,960)`**
**`96,456`**
**`(249,960)`**
**`96,456`**| |---|---| ``` continued... ``` ``` Page 9 ``` ``` Royal Lancashire Agricultural Society ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31st December 2021`** ## **`8. MOVEMENT IN FUNDS - continued`** ## **`Comparatives for movement in funds`** |||`Net`|| |---|---|---|---| |||`movement`|`At`| ||`At 1.1.20`|`in funds`|`31.12.20`| ||`£`|`£`|`£`| |**`Unrestricted funds`**|||| |`General fund`|`45,885`|`(10,552)`|`35,333`| |**`TOTAL FUNDS`**|`45,885`|`(10,552)`|`35,333`| ``` Comparative net movement in funds, included in the above are as follows: ``` ||`Incoming`|`Resources`|`Movement`| |---|---|---|---| ||`resources`|`expended`|`in funds`| ||`£`|`£`|`£`| |**`Unrestricted funds`**|||| |`General fund`|`(4,947)`|`(5,605)`|`(10,552)`| |**`TOTAL FUNDS`**|`(4,947)`|`(5,605)`|`(10,552)`| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |||`Net`|| |---|---|---|---| |||`movement`|`At`| ||`At 1.1.20`|`in funds`|`31.12.21`| ||`£`|`£`|`£`| |**`Unrestricted funds`**|||| |`General fund`|`45,885`|`85,904`|`131,789`| |**`TOTAL FUNDS`**|`45,885`|`85,904`|`131,789`| ``` A currentyear12monthsandprioryear12monthscombinednet movementin funds,includedin the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`341,469`
`341,469`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(255,565)`
`85,904`
`(255,565)`
`85,904`| |---|---|---| ``` continued... ``` ``` Page 10 ``` ``` Royal Lancashire Agricultural Society ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31st December 2021`** ## **`9. RELATED PARTY DISCLOSURES`** ``` SponsorshipincomewasreceivedindirectlyfromColinMustoeaTrustee/Directorvia Senator InternationalLtd(ofwhichMrMustoeisaDirector)inthesumof£16,000andfromMytton Fold Hotel2020LTD(ofwhichMrMustoeis a Director)in thesum of £400in theyearended31 December 2021. ``` ``` Page 11 ``` ``` Royal Lancashire Agricultural Society ``` ## **`Detailed Statement of Financial Activities for the Year Ended 31st December 2021`** |**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`Donations`
**`Activities for generating fund`**
`Ticket sales`
`Concessions`
`Sponsorships`
`Trade stands`
`Show jumping`
`Craft stalls`
`Food hall`
`Ladies marquee`
**`Other income`**
`Membership`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Other trading activities`**
`Hire of plant and machinery`
`Competition costs`
`Showground expenditure`
`Show entertainment`
`Judges expenses`
`Administration costs`
`Printing and stationery`
`Advertising`
`Staff costs`
`Bank charges`
**`Support costs`**
**`Governance costs`**
`Accountancy fees`
`Total resources expended`
**`Net income/(expenditure)`**|`2021`
`£`
**`6,566`**
**`163,273`**
**`14,575`**
**`63,039`**
**`80,742`**
**`2,151`**
**`3,052`**
**`3,230`**
**`6,583`**
**`336,645`**
**`3,205`**
**`346,416`**
**`9,679`**
**`28,902`**
**`180,211`**
**`14,653`**
**`2,130`**
**`3,592`**
**`4,133`**
**`416`**
**`1,149`**
**`1,961`**
**`246,826`**
**`3,134`**
**`249,960`**
**`96,456`**|`2020`
`£`
`759`
`(270)`
`(335)`
`(500)`
`(4,456)`
`-`
`(152)`
`(270)`
`(240)`
`(6,223)`
`517`
`(4,947)`
`-`
`113`
`1,368`
`-`
`-`
`1,278`
`56`
`150`
`-`
`1,090`
`4,055`
`1,550`
`5,605`
`(10,552)`| |---|---|---| ``` This page does not form part of the statutory financial statements ``` ``` Page 12 ```