``` 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`** ``` 1021210 ``` ``` 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 ```