**Charity registration number 1024609** **Company registration number 02837831 (England and Wales)** **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Ms M Bowden| |---|---| ||Mr C P Fairweather| ||The Honourable T A S Phillimore| ||Ms J E Spooner| ||Mr G R S Champion| ||Mr P J F Webb| |**Secretary**|Mr C P Fairweather| |**Charity number**|1024609| |**Company number**|02837831| |**Registered office**|50 New Street| ||Henley-On-Thames| ||Oxfordshire| ||United Kingdom| ||RG9 2BX| |**Independent examiner**|Azets Audit Services| ||Suites B & D| ||Burnham Yard| ||Beaconsfield| ||Bucks| ||United Kingdom| ||HP9 2JH| ## **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 13| ## **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ The trustees present their annual report and financial statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016) ## **Objectives and activities** The charity's objects are that of the promotion and improvement of agriculture, horticulture and the breeding and rearing of livestock in the Henley and surrounding area. In so far as the income cannot be applied in this way it may be applied in the support of other charities that work with the disadvantaged and disabled through the use of agriculture, horticulture and / or animals. ## **Public Benefit** The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Charitable Activities** On an annual basis, the Association holds a number of events including The Henley Show, Sheepdog Trial, a Ploughing Match and Crop Competitions. The events attract large numbers of visitors, and during these events popular agricultural and livestock competitions take place that promote high standards of animal welfare and practice, as well as increasing public awareness of farming in Henley and the surrounding area. ## **Achievements and performance** The Association has held the following three events during the year: Henley Show Ploughing Match ## Crop Competition Attendance at these events was approximately 20,000 and the popular agricultural and livestock competitions that take place continue to promote high standards of animal welfare as well as increasing public awareness of farming and related activities in the Henley area. For various reasons The Association was unable to hold the Sheepdog Trial in 2022. ## **Financial review** A surplus of £5,864 (2021: £14,789) is recorded in the financial statements. The company is limited by guarantee and therefore has no share capital. As part of the "Business and Development" planning a Reserves policy has been drawn up: Unrestricted Reserve - to build up enough funds to cover the annual running costs of the Henley Show in the event of its cancellation. The running costs are approximately £150,000. In the financial statements, all items are included under 'Unrestricted Reserves' as they are not subject to restrictions under law. ## **Risk Management** The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. - 1 - ## **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **Structure, governance and management** The charity is a company limited by guarantee with company number 2837831. The company was established under a Memorandum and Articles of Association dated 12 July 1993. The charitable company is registered as a charity with the Charity Commission and has been assigned the number 1024609. ## **Trustees** The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Ms M Bowden Mr C P Fairweather The Honourable T A S Phillimore Ms J E Spooner Mr G R S Champion Mr P J F Webb ## **Recruitment and appointment of trustees** Eligibility for membership of the charity, and membership of the Board of Trustees, is governed by the Memorandum and Articles of Association. The Trustees are appointed at the charity's Annual General Meeting and retire from office at the third AGM following the AGM at which they were elected. Any casual vacancy arising during the year is filled by the co-option of a person on the board; that person is then duly elected at the subsequent Annual General Meeting. At the AGM, one third retire but are eligible for reappointment. The trustees' report was approved by the Board of Trustees. .............................. Mr C P Fairweather ## **Trustee** 10/03/2023 Date: ............................................. - 2 - ## **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** I report to the trustees on my examination of the financial statements of Henley and District Agricultural Association Limited (the charity) for the year ended 31 December 2022. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements 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 financial statements 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 financial statements to be reached. Christopher Nisbet FCA Azets Audit Services Suites B & D Burnham Yard Beaconsfield Bucks HP9 2JH United Kingdom 14/03/2023 Dated: ......................... - 3 - ## **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ |||**Unrestricted Unrestricted**|**Unrestricted Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2022**|**2021**| ||**Notes**|**£**|**£**| |**Income and endowments from:**|||| |Donations and legacies|**2**|22,306|22,018| |Charitable activities|**3**|145,435|155,199| |Investments|**4**|451|531| |Other income|**5**|-|3,685| |**Total income**||168,192|181,433| |**Expenditure on:**|||| |Charitable activities|**6**|162,292|166,838| |Net gains/(losses) on investments|**10**|(36)|194| |**Net movement in funds**||5,864|14,789| |Fund balances at 1 January 2022||116,710|101,921| |**Fund balances at 31 December 2022**||122,574|116,710| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 4 - ## **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2022**_ |**Notes**
**Fixed assets**
Tangible assets
**11**
Investments
**12**
**Current assets**
Stocks
**13**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**15**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds|**2022**
**£**
842
5,535
113,983
120,360
(9,798)|**£**
11,231
781
12,012
110,562
122,574
122,574
122,574|**2021**
**£**
870
1,766
120,929
123,565
(11,956)|**£**
4,284
817| |---|---|---|---|---| |||||5,101
111,609| |||||116,710| |||||116,710| |||||116,710| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. **----- Start of picture text -----**
10/03/2023
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The financial statements were approved by the Trustees on ......................... **----- Start of picture text -----**
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.............................. Mr C P Fairweather **Trustee** ## **Company registration number 02837831** - 5 - **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **1 Accounting policies** ## **Charity information** Henley and District Agricultural Association Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 50 New Street, Henley-On-Thames, Oxfordshire, RG9 2BX, United Kingdom. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. ## **1.2 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. ## **1.3 Incoming resources** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. The charity received a government grant in respect of the Coronavirus Job Retention Scheme. Income from government and other grants are recognised at fair value when the charity has entitlement. ## **1.4 Resources expended** 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. - 6 - **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and equipment 15% on reducing balance Fixtures and fittings 25% on reducing balance Computers 15% on reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.6 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.7 Stocks** Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. ## **2 Donations and legacies** |**Unrestricted**
**funds**
**2022**
**£**
Gift aid
2,441
Subscriptions
19,865
22,306
**Donations and gifts**
Other
2,441
2,441|Total
2021
£
2,131
19,887| |---|---| ||22,018| ||2,131| ||2,131| - 7 - ## **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ |**3**
**Charitable activities**
Henley Show
Ploughing match
President's party
Crop competitions
Other income|**Events**
**2022**
**£**
129,107
8,552
7,220
556
-
145,435|**Events**
**2021**
**£**
140,438
8,000
5,080
576
-
154,094|**Other**
**2021**
**£**
-
-
-
-
1,105
1,105|**Total**
**2021**
**£**
140,438
8,000
5,080
576
1,105| |---|---|---|---|---| |||||155,199| **4 Investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Income from listed investments|36|21| |Interest receivable|415|510| ||451|531| |**Other income**||| ||**Total**|Unrestricted| |||funds| ||**2022**|2021| ||**£**|£| |Government grants|-|3,685| ## **5 Other income** In 2021, the charity has been eligible to claim additional funding in year from government support schemes in response to the coronavirus outbreak. The charity furloughed its one employee under the government’s CJRS. - 8 - ## **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **6 Charitable activities** |**Donations**
**2022**
**£**
Henley Show
-
Ploughing Match
-
Sheepdog Trial
-
President's Party
-
Crop competitions
-
Wages
-
Sundries
-
Insurance
-
Bookkeeping fees
-
Casual labour
-
Rent
-
Rates and water
-
Telephone
-
Postage
-
Stationery and printing
-
Other charitable expenditure
2,500
2,500
Share of support costs (see note 7)
-
Share of governance costs (see note 7)
-
2,500|**Events**
**2022**
**£**
101,140
4,916
13
1,000
461
-
-
-
-
-
-
-
-
-
-
-
107,530
-
-
107,530|**Support**
**costs**
**2022**
**£**
-
-
-
-
32,131
780
3,120
1,774
2,935
2,766
455
1,919
514
1,130
1,277
48,801
1,361
2,100
52,262|**Total**
**2022**
**Donations**
**2021**
**£**
**£**
101,140
-
4,916
-
13
-
1,000
-
461
-
32,131
-
780
-
3,120
-
1,774
-
2,935
-
2,766
-
455
-
1,919
-
514
-
1,130
-
3,777
5,000
158,831
5,000
1,361
-
2,100
-
162,292
5,000|**Events**
**2021**
**£**
102,320
5,428
13
4,465
-
-
-
-
-
-
-
-
-
-
-
-
112,226
-
-
112,226|**Support**
**costs**
**2021**
**£**
-
-
-
-
-
31,681
1,482
2,132
1,627
1,196
2,621
641
1,892
1,410
809
2,016
47,507
773
1,332
49,612|**Total**
**2021**
**£**
102,320
5,428
13
4,465
-
31,681
1,482
2,132
1,627
1,196
2,621
641
1,892
1,410
809
7,016| |---|---|---|---|---|---|---| |||||||164,733
773
1,332| |||||||166,838| - 9 - **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **7 Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Depreciation of plant and
machinery
930
-
Depreciation of fixtures
and fittings
25
-
Depreciation of computer
equipment
406
-
Independent examiners
fee
-
2,100
1,361
2,100
Analysed between
Charitable activities
1,361
2,100|**2022**Support costs Governance
costs
**£**
£
£
930
291
-
25
34
-
406
448
-
2,100
-
1,332
3,461
773
1,332
3,461
773
1,332|2021
£
291
34
448
1,332| |---|---|---| |||2,105| |||2,105| Governance costs includes payments to the independent examiners of £2,100 (2021- £1,332) for independent examiners fees. ## **8 Trustees** None of the trustees (or any persons connected with them) received any remuneration during the year, but 1 Trustee was reimbursed expenses totalling of £234 (2021: £47). ## **9 Employees** The average monthly number of employees during the year was: |**2022**|**2021**| |---|---| |**Number**|**Number**| |1|1| There were no employees whose annual remuneration was more than £60,000. ## **10 Net gains/(losses) on investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Revaluation of investments|(36)|194| - 10 - ## **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ |**11**|**Tangible fixed assets**||||| |---|---|---|---|---|---| |||**Plant and**|**Fixtures and**|**Computers**|**Total**| |||**equipment**|**fittings**||| |||**£**|**£**|**£**|**£**| ||**Cost**||||| ||At 1 January 2022|6,816|6,201|11,239|24,256| ||Additions|8,190|-|117|8,307| ||At 31 December 2022|15,006|6,201|11,356|32,563| ||**Depreciation and impairment**||||| ||At 1 January 2022|5,168|6,100|8,703|19,971| ||Depreciation charged in the year|930|25|406|1,361| ||At 31 December 2022|6,098|6,125|9,109|21,332| ||**Carrying amount**||||| ||At 31 December 2022|8,908|76|2,247|11,231| ||At 31 December 2021|1,648|101|2,535|4,284| |**12**|**Fixed asset investments**||||| ||||||**Listed**| ||||||**investments**| ||||||**£**| ||**Cost or valuation**||||| ||At 1 January 2021||||817| ||**Revaluations**||||| ||Revaluation loss||||36| ||**Carrying amount**||||| ||At 31 December 2022||||781| ||At 31 December 2021||||817| ## **Fixed asset investments revalued** There were no investment assets outside of the UK. The following investments represent more than 5% of the total investments: **Historical cost Market value** 1,710 Lloyds Banking Plc ordinary £0.25 shares: £870 £781 - 11 - ## **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ |**13**
**Stocks**
Rosettes and Association ties
**14**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**15**
**Creditors: amounts falling due within one year**
**Notes**
Other taxation and social security
Deferred income
**16**
Trade creditors
Accruals
**16**
**Deferred income**
Other deferred income|**2022**
**£**
842
**2022**
**£**
5,535
**2022**
**£**
-
5,240
132
4,426
9,798
**2022**
**£**
5,240|**2021**
**£**
870| |---|---|---| |||**2021**
**£**
1,766| |||**2021**
**£**
517
45
4,940
6,454| |||11,956| |||**2021**
**£**
45| The deferred income for 2022 relates to: - income received in advance of the 2022 event £560 (2021: £45) - parking debentures which are for a period of 5 years £4,680 (2021: £nil) ## **17 Operating lease commitments** At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: ||**2022**|**2021**| |---|---|---| ||**£**|**£**| |Within one year|3,750|3,750| - 12 - ## **HENLEY AND DISTRICT AGRICULTURAL ASSOCIATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **18 Related party transactions** There were some related party transactions during the year. During the year, funds were received from Coppid Farming Enterprises LLP totalling £545 (2021: £73). One of the Trustees is a member of Coppid Farming Enterprises LLP. Funds were also received from 3 Trustees totalling £108 for subscriptions and entry fees (2021: £nil) - 13 -