2021-12-31-accounts - Southwell And District Agricultural Society

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REGISTERED COMPANY NUMBER: 02748260 (England and Wales)
REGISTERED CHARITY NUMBER: 1021210

`REPORT OF THE TRUSTEES AND`

`UNAUDITED FINANCIAL STATEMENTS`

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

SOUTHWELL AND DISTRICT AGRICULTURAL
SOCIETY

Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

SOUTHWELL AND DISTRICT AGRICULTURAL
SOCIETY

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 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`

SOUTHWELL AND DISTRICT AGRICULTURAL
SOCIETY (REGISTERED NUMBER: 02748260)

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31December2021.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

Theobjectiveofthecharityistopromoteagricultureandtosuchendgenerallyimproveitinallbranchesand to
encourageskillandindustryin it andin alltrades,craftsandprofessionsconnectedwithit.The trusteesconfirm that
theyhavereferredtotheCharityCommission'sgeneralguidanceonpublicbenefitintheirreviewofthe company's
objective.TheprincipleactivityofthecharityistopromotetheSouthwellandDistrictAnnualPloughingMatch and
Agricultural Show.

`ACHIEVEMENT AND PERFORMANCE`

`Charitable activities`

Duringthe year the Societycontinuedto promoteits objectivesby holdingit's annualshow in Farnsfield.The trustees
continue to pursue the Society's stated objectives.

`FINANCIAL REVIEW`

`Financial position`

Thefinancialstatementsaccompanyingthisreportshowanetsurplusfortheyearamountingto£34,417(2020 Net
loss £9,318) and total funds available at the year end of £268,827  (2020 £234,410).
The Society made distributions of £5,000 to Nottinghamshire Young Farmers Club.

`Reserves policy`

The reserves of the charityhave been reviewed and it was concludedthat in order to allow the charityto be managed
efficientlyandtoprovideabufferintheeventofcancellationofafutureshoworlowattendancedueto poor
weather,the unrestrictedfunds not committedshouldequateto a miniumof one and a half years resource expenses.
The end reserves are maintained in ready cash form to enable the Society to meet its capital and revenue expenditure.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

Southwell&DistrictAgriculturalSocietyisacompanylimitedbyguarantee(asdefinedbyCompaniesAct 2006)
governedbyitsMemorandumandArticlesofAssociationdated25thAugust1992.Itisregisteredwiththe Charity
Commission.

`Organisational structure`

`General Committee`

TheGeneralCommitteeoftheSocietyhasabsolutecontrolovertheaffairsandthepropertyoftheSociety. The
committeeconsistsoftheChairmanandViceChairmananduntilotherwisedeterminedbytheSocietyall other
members of the Society excluding the Honorary Members.

`Trustees`

The day to day operationof the Society'sactivitiesis entrustedto the Trusteeswho reportto the General Committee.
The trustees are directors of the Company as well as its trustees in the terms of the Charities Act.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Company number`

02748260 (England and Wales)

`Registered Charity number`

Page 1

SOUTHWELL AND DISTRICT AGRICULTURAL
SOCIETY (REGISTERED NUMBER: 02748260)

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021`

`Registered office`

14 London Road
Newark
Nottinghamshire
NG24 1TW

`Trustees`

C M Collingham
J P Jackson
P I White

`Company Secretary`

Mrs A M Hardstaff

`Independent Examiner`

Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

Approved by order of the board of trustees on 8 March 2022 and signed on its behalf by:

P I White - Trustee

Page 2

`INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUTHWELL AND DISTRICT AGRICULTURAL SOCIETY`

`Independent examiner's report to the trustees of Southwell And District Agricultural Society ('the Company')`

IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 December 2021.

`Responsibilities and basis of report`

As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006  Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutundersection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith 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)).

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Ian Phillips
Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

8 March 2022

Page 3

SOUTHWELL AND DISTRICT AGRICULTURAL
SOCIETY

`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021`

2021
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3,500
Charitable activities
Annual show and dinner
160,210
Investment income
2
659
Total
164,369
EXPENDITURE ON
Charitable activities
Annual show and dinner
129,952
NET INCOME/(EXPENDITURE)
34,417
RECONCILIATION OF FUNDS
Total funds brought forward
234,410
TOTAL FUNDS CARRIED FORWARD
268,827 2020
Total
funds
£
1,597
15,587
1,272
18,456
27,774
(9,318)
243,728
234,410

The notes form part of these financial statements

Page 4

SOUTHWELL AND DISTRICT AGRICULTURAL
SOCIETY (REGISTERED NUMBER: 02748260)

`BALANCE SHEET 31 DECEMBER 2021`

2021
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
5
2,854
CURRENT ASSETS
Stocks
6
182
Debtors
7
5,999
Investments
8
80,239
Cash at bank
182,075
268,495
CREDITORS
Amounts falling due within one year
9
(2,522)
NET CURRENT ASSETS
265,973
TOTAL ASSETS LESS CURRENT LIABILITIES
268,827
NET ASSETS
268,827
FUNDS
10
Unrestricted funds
268,827
TOTAL FUNDS
268,827 2020
Total
funds
£
66
182
-
79,689
154,953
234,824
(480)
234,344
234,410
234,410
234,410
234,410

The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 December 2021.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 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

SOUTHWELL AND DISTRICT AGRICULTURAL
SOCIETY (REGISTERED NUMBER: 02748260)

`BALANCE SHEET - continued 31 DECEMBER 2021`

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.

The financialstatementswere approvedby the Boardof Trusteesand authorisedfor issue on 8 March2022 and were
signed on its behalf by:

P I White - Trustee

C M Collingham - Trustee

J P Jackson - Trustee

The notes form part of these financial statements

Page 6

SOUTHWELL AND DISTRICT AGRICULTURAL
SOCIETY

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
Companies Act 2006. The financial statements have been prepared under the historical cost convention.

`Income`

All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.

`Tangible fixed assets`

Depreciationis providedat the followingannualrates in orderto write off each asset over its estimated useful
life.

Plant and machinery- 20% on reducing balance
Computer equipment- 20% on reducing balance

`Stocks`

Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete and
slow moving items.

`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.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.

continued...

Page 7

SOUTHWELL AND DISTRICT AGRICULTURAL
SOCIETY

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021`

`2. INVESTMENT INCOME`

`2.`	`INVESTMENT INCOME`
		`2021`	`2020`
		`£`	`£`
	`Deposit account interest`	`108`	`556`
	`Julian Hodge interest`	`551`	`716`
		`659`	`1,272`
`3.`	`NET INCOME/(EXPENDITURE)`
	`Net income/(expenditure) is stated after charging/(crediting):`
		`2021`	`2020`
		`£`	`£`
	`Depreciation - owned assets`	`713`	`17`

`4. TRUSTEES' REMUNERATION AND BENEFITS`

There were no trustees'remunerationor other benefitsfor the year ended 31 December 2021 nor for the year
ended 31 December 2020.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31December2021norfortheyear ended
31 December 2020.

`5. TANGIBLE FIXED ASSETS`

`Plant and` `Computer` `machinery` `equipment` `£` `£` `COST` `At 1 January 2021` `1,134` `4,066` `Additions` `2,400` `1,101` `At 31 December 2021` `3,534` `5,167` `DEPRECIATION` `At 1 January 2021` `1,134` `4,000` `Charge for year` `480` `233` `At 31 December 2021` `1,614` `4,233` `NET BOOK VALUE` `At 31 December 2021` `1,920` `934` `At 31 December 2020` `-` `66`	`Totals` `£` `5,200` `3,501`
	`8,701`
	`5,134` `713`
	`5,847`
	`2,854`
	`66`

continued...

Page 8

SOUTHWELL AND DISTRICT AGRICULTURAL
SOCIETY

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021`

`6.` `STOCKS` `Stocks` `7.` `DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Prepayments and accrued income` `8.` `CURRENT ASSET INVESTMENTS` `Julian Hodge account` `9.` `CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Accrued expenses` `10.` `MOVEMENT IN FUNDS` `Unrestricted funds` `General fund` `TOTAL FUNDS` `Net movement in funds, included in the above are as follows:` `Unrestricted funds` `General fund` `TOTAL FUNDS`	`At 1.1.21` `£` `234,410` `234,410` `Incoming` `resources` `£` `164,369` `164,369`		`2021` `£` `182` `2021` `£` `5,999` `2021` `£` `80,239` `2021` `£` `2,522` `Net` `movement` `in funds` `£` `34,417` `34,417` `Resources` `expended` `£` `(129,952)` `(129,952)`

continued...

Page 9

SOUTHWELL AND DISTRICT AGRICULTURAL
SOCIETY

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021`

`10. MOVEMENT IN FUNDS - continued`

`Comparatives for movement in funds`

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`At 1.1.20` `£` `243,728` `243,728`	`Net` `movement` `in funds` `£` `(9,318)` `(9,318)`	`At` `31.12.20` `£` `234,410`
			`234,410`

Comparative net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`18,456`	`(27,774)`	`(9,318)`
`TOTAL FUNDS`	`18,456`	`(27,774)`	`(9,318)`

A current year 12 months and prior year 12 months combined position is as follows:

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`At 1.1.20` `£` `243,728` `243,728`	`Net` `movement` `in funds` `£` `25,099` `25,099`	`At` `31.12.21` `£` `268,827`
			`268,827`

A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`Incoming` `resources` `£` `182,825` `182,825`	`Resources` `Movement` `expended` `in funds` `£` `£` `(157,726)` `25,099` `(157,726)` `25,099`

continued...

Page 10

SOUTHWELL AND DISTRICT AGRICULTURAL
SOCIETY

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021`

`11. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 December 2021.

`12. COMPANY LIMITED BY GUARANTEE`

The charity is a company limited by membership guarantees.

Page 11