2020-12-31-accounts - The Royal Bath And West Of England Society

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CONTENTS
Annual Report of the Directors
Independent	Auditor's Report to the	Members
Consolidated	Statement of Financial	Activities	15
Consolidated	and Company Balance	Sheets	16
Consolidated	Cash Flow Statement		18
Notes to the	Consolidated Financial	Statements	19

Charity	Name	Name	The Royal Bath &West of England	The Royal Bath &West of England	Society
Charity	Number:		1039397
Company		Number:	02931640
Directors:			R N F Drewett DL —Chairman
			J Alvis OBE —Vice Chairman
			Dr L S Moir —Honorary Treasurer R W Ash —resigned 1"July 2020 R T Calver —resigned 1"July 2020
			M J Felton
			A Gibson OBE
			Mrs C R Look
			M Thatcher
			R W Uloth
			Sir David Wills Bt
			Mrs A BYeoman OBE	DL
Chief Executive:			G R Cox —resigned 31"January 2021
Registered		Office:	The Showground
			Shepton Mallet
			Somerset
			BA4 6QN
Auditor:			PKF Francis Clark
			Chartered Accountants	and Statutory	Auditor
			Blackbrook Gate 1
			Blackbrook Business Park
			Taunton
			Somerset
			TA1 2PX
Bankers:			Handelsbanken
			Bishopbrook House
			Cathedral Avenue
			Wells
			BA5 1FD

	Unrestricted	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		Funds	Funds	Funds	Funds	Funds	Funds
		2020	2020	2020	2019	2019	2019
	Note	K'000	E'000	f'000	K'000	K'000	K'000
INCOME
Donations and legacies		175		175	2		2
Charitable activities			10	10	5	6	11
Other trading activities		363		363	2,942		2,942
Investments		1		1	1		1
Other		151		151	191		191
TOTAL INCOME	3,17	690	10	700	3,141	6	3147
EXPENDITURE
Expenditure on raising funds		777		777	2,575		2,575
Expenditure on charitable	activities	821		829	715	9	724
TOTAL EXPENDITURE	3,17	1,598	8	1,606	3,290	9	3,299
NET (EXPENDITURE) I	INCOME
BEFORE GAINS ON INVESTMENT
PROPERTIES		(908)		(906)	(149)	(3)	(152)
GAINS ON INVESTMENT
PROPERTIES		258		258
NET (EXPENDITURE) I	INCOME
FOR THE YEAR AND MOVEMENT		(650)		(648)	(149)	(3)	(152)
IN FUNDS
RECONCILIATION OF FUNDS:
FUNDS BROUGHT FORWARD		6,096	76	6,172	6,245	79	6,324
FUNDS CARRIED FORWARD		5,446	78	5,524	6,096	76	6172

				Group	Group	Company	Company
			Note	2020	2019	2020	2019
				6'000	E'000	F'000	6'000
FIXEDASSETS
Tangible Assets			9	3,350	3,598	3,350	3,598
Investment Properties Investments			10 11	3,000	2,742	3,000	2,742
				6,350	6,340	6,350	6,340
CURRENT ASSETS
Stock			12	18	21	18	21
Debtors			13	54	198	72	86
Cash at Bank and	in Hand		14	1	238	1	51
				73	457	91	158
LIABILITIES:	Creditors	Falling Due
	Within	One Year	15	(899)	(625)	(540)	(652)
NET CURRENT (LIABILITIES)/ASSETS				(826)	(168)	(449)	(494)
NET ASSETS				5,524	6,172	5,901	5,846

						Group	Group	Company	Company
					Note	2020	2019	2020	2019
						E'000	8'000	E'000	f.'000
FUNDS
Unrestricted			Funds
General	Funds				17	5,365	5,659	5,689	5,659
Non-Charitable			Trading	Funds	17	(53)	326
Designated		Funds			17	134	111	134	111
						5,446	6,096	5,823	5,770
Restricted		Funds			17	78	76	78	76
TOTAL	FUNDS					5,524	6,172	5,901	5,846

		Note	2020	2019
			F'000	6'000
Cash flows from operating	activities
Net cash provided by operating activities		(a)	(284)	303
Cash oufflows from investing activities:
Interest received			1	1
Payments to acquire tangible	fixed assets		(87)	(538)
Cash used in investing activities			(86)	(537)
Decrease in cash and cash	equivalents		(370)	(234)
Cash and cash equivalents	at 1 January		238	472
Cash and cash equivalents	at 31 December		(132)	238

				2020	2019
				f'000	8'000
Net expenditure for Interest receivable Depreciation charge	the year			(648) (1) 335	(152) (1) 340
Gain on revaluation Decrease in stock	of investment		properties	(258) 3	1
Decrease in debtors				144	106
Increase in creditors				141	9
Cash flows from operating		activities		(284)	303

						2020						2019
					Direct	Support	Gains on	Transfers	Surplus/		Direct	Support	Surplus/
				Income	Costs	costs	Investment		(deficit)	Income	Costs	costs	(deficit)
							Properties
				E'000	E'000	E'000	E'000	E'000	E'000	E'000	E'000	E'000	E'000
Unrestricted/Designated
Membership	and education			52	(5)	(181)			(134)		(30)	(184)	(160)
Other Showground		income		186		(636)	258	324	132	144		(501)	(357)
Bath and West Shows Ltd				91	(135)	(506)		(17)	(567)	1,920	(1,312)	(591)	17
Bath &West	Enterprises		Ltd	361	(54)	(81)		(307)	(81)	1,023	(290)	(382)	351
Unrestricted	total			690	(194)	(1,404)	258		(650)	3,141	(1,632)	(1,658)	(149)
Restricted
South West	Growth	Fund				(3)			(3)			(3)	(3)
Rural Development
Programme	for England					(3)			(3)			(3)	(3)
Field to Food Learning			Day	10					10
Other						(2)			(2)			(3)	3
Restricted total				10		(8)					(9)		(3)
Total				700	(194)	(1,412)	258	-	(648)	3,147	(1,632)	(1,667)	(152)

						2020	2019
						R'000	f'000
Turnover						361	1,023
Cost ofSales						(54)	(290)
Gross Profit						307	733
Administrative		Expenses (excluding		rents payable to parent
company)						(81)	(381)
Profit on Ordinary			Activities Before	Rent		226	352
Rent Due to	Parent Company					(54)	(216)
Profit on Ordinary			Activities			172	136
Distribution	paid to Parent Company					307
The aggregate		of	the assets, liabilities		and funds were:
						f'000	E'000
Assets						362	522
Liabilities						(270)	(294)
						92	228

					2020	2019
					K'000	6'000
Turnover					91	1,920
Cost ofSales					(135)	(1,312)
Gross (Loss) / Profit					(44)	608
Administrative	Expenses				(506)	(591)
(Loss) / Profit	on Ordinary		Activities		(550)	17
Distribution paid to Parent			Company		17
The aggregate		ofthe assets, liabilities		and funds were:
					K'000	R'000
Assets					11	318
Liabilities					(480)	(220)
					(469)	98
Funds represent		3 ordinary	shares of	E1 each (2019:3 ordinary shares ofE1 each) and
the deficit on the profit and			loss account off468,293 (2019:surplus		off97,669).

INCOME FR	OM DONA	TIO	NS	AND L	EGACIES
						Group	Group
						2020	2019
						R'000	K'000
Donations						27
Coronavirus	Job Retention		Scheme (CRJS)			148
						175
All income from donations			and	legacies was unrestricted.
SUPPORT COSTS
						Group	Group
						2020	2019
						8'000	f'000
Wages and Salaries						678	703
Showground	Costs (Facilities)					262	422
Showground	Costs (Office)					87	146
Consultancy	and Professional			Costs		31	27
Finance Costs						6	12
Depreciation						335	340
Auditors remuneration						13	17
						1,412	1,667
The analysis	of auditors'	remuneration			is as follows:
						Group	Group
						2020	2019
						K"000	K'000
Audit ofthese	financial	statements
Audit offinancial statements			of subsidiary companies
Accountancy	services
						13	17

STAFF CO		STS
						Group	Group
						2020	2019
						K'000	f,'000
Wages and		Salaries				579	621
Employer's		National		Insurance		54	56
Pension Costs						32	33
Redundancy		Costs				13
						678	710
The average		number		ofemployees	was:
						Group	Group
						2020	2019
Charitable	activities			and show organisation		14	16
Site maintenance			and development			5	6
						19	22

GROUP AND COMPANY
		Freehold	Plant,
		Showg round	Implements,
	Freehold	Buildings &	Furniture	Motor
	Land	Improvements	& Fixtures	Vehicles	Total
	8'000	f'000	f.'000	K'000	R'000
COST
As at 1 January 2020	158	7,610	908	38	8,714
Additions		87			87
As at 31 December 2020	158	7,697	908	38	8,801
DEPRECIATION
As at1 January2020		4,332	749	35	5,116
Charge for the year		273	60	2	335
As at 31 December 2020		4,605	809	37	5,451
NET BOOK VALUE
As at 31 December 2020	158	3,092	99	1	3,350
As at 31 December 2019	158	3,278	159	3	3,598

Details ofundertakings
			Proportion	ofvoting
Undertaking		Holding	rights and shares held 2020 2019
Subsidiary undertakings
Bath 8 West Enterprises	Limited	Ordinary		1QQ'/	100%
Bath and West Shows Limited		Ordinary		100%	100%
Bath and West Estates	Management
Company Limited British Cheese Awards	Limited (+)	Ordinary Ordinary		1000/ 100%	100% 100%

						Group	Group	Company	Company
						2020	2019	2020	2019
						K'000	F'000	F'000	6'000
	Consumables					18	21	18	21
13.	DEBTORS
						Group	Group	Company	Company
						2020	2019	2020	2019
						F'000	K'000	K'000	K'000
	Trade Debtors					36	141	25	37
	Other Debtors					1	1	1	1
	Other Taxation and Social				Security			30	19
	Prepayments		and	Accrued	Income	17	56	16	29
						54	198	72	86
14.	CASH
						Group	Group	Company	Company
						2020	2019	2020	2019
						E'000	K'000	K'000	E'000
	Cash at	bank	and	in hand		1	238	1	51
	Analysis	of net debt
							At 1		At 31
	GROUP						Jan	Cash	Dec
							2020	flow	2020
							F'000	K'000	f'000
	Cash at	bank	and	in hand			238	(237)	1
	Overdraft							(133)	(133)
	Total						238	(370)	(132)

CREDITORS: Amo	unts	falling due within	one year
			Group	Group	Company	Company
			2020	2019	2020	2019
			E'000	8'000	f'000	R'000
Bank Overdraft			133		150
Trade Creditors			82	93	54	47
Amounts Due to Group		Undertakings			278	522
Other Creditors			10	5	9	5
Other Taxation and	Social Security		63	43	13	18
Accruals			37	63	26	50
Trade Stand Funds	Held on Account (Note		16) 262
Deferred Income (Note		16)	312	421	10	10
			899	625	540	652
DEFERRED INCOME
			Group	Group	Company	Company
			2020	2019	2020	2019
			f'000	K'000	R'000	R'000
Balance Brought Forward			421	246	10	13
Trade Stand and other		Advanced
Bookings Received			189	1,048
Rent Received			312	1,019	122	96
Membership Received			25	46	25	47
Released to Statement		of Financial
Activities			(373)	(1,938)	(147)	(146)
Balance Carried Forward			574	421	10	10
Deferred income will	be	applied as follows:
Trade Stand Funds	Held on Account		262
Deferred Income			312	421	10	10
Within 1 year			574	421	10	10

GROUP	As at 1	As at 1							As at 31
	January					Transfers		December
		2020	Income	Expenditure and			Gains		2020
		K'000	F'000		R'000		6'000		E'000
Unrestricted Funds:
General Funds Bath and West Shows Ltd Bath 8 West Enterprises Ltd		5,659 98 228	211 91 361		(817) (641) (136)		636 (17) (361)		5,689 (469) 92
Designated Funds:
Charity Committee Young People's Funds		7 4	27		(4)				30 4
Infrastructure Upgrade		100							100
Total Unrestricted
Funds		6,096	690		(1,598)		258		5,446
Restricted Funds:
Showering Pavilion
Heating System South West Growth Fund Rural Development Programme		22 38			(2) (3)				20 35
for England (RDPE) Field to Food Learning Day			10		(3)				4 10
Mendip DC REC F&D Grant									4
Mendip DC First Aid Grant									5
Total Restricted Funds		76	10		(8)				78
Total Funds		6,172	700		(1,606)		258		5,524
Transfers and Gains includes (see Note 10). The remaining	a gain on transfer		the revaluation of investment property between funds represents distribution						of2258k of profits
from the trading subsidiaries	to the parent Company,				as shown in	Note 3. The			transfer
from Bath 8 West Enterprises 254k.	Limited		also includes		an intercompany		rent payment of

GROUP			As at1				As at 31
			January				December
			2019 K'000	Income E'000	Expenditure f'000	Transfers 6'000	2019 8'000
Unrestricted Funds:
General Funds			5,955	193	(685)	196	5,659
Bath and West Shows Ltd			81	1,920	(1,903)	-	98
Bath &West Enterprises		Ltd	92	1,023	(671)	(216)	228
Designated Funds:
Charity Committee Young People's Funds			12 5		(27) (4)	20	7 4
Infrastructure Upgrade			100				100
Total Unrestricted
Funds			6,245	3,141	(3,290)		6,096
Restricted Funds:
Showering Pavilion
Heating System South West Growth	Fund		24 41		(2) (3)		22 38
Rural Development	Programme
for England (RDPE) Mendip DC REC F&D Grant			10 4		(3)
Mendip DC First Aid	Grant				(1)
Total Restricted Funds			79		(9)		76
Total Funds			6,324	3,147	(3,299)	-	6,172

ANALYSIS OF	GROU	P	NET A	SSET	S BETWEEN	FUNDS	FUNDS	FUNDS
					General	Designated			Restricted
					Funds			Funds		Funds	Total
					K'000			6'000		K'000	K'000
Fund balances	at 31 December 2020
are represented	by:
Tangible Fixed	Assets				3,282					68	3,350
Investment Properties Other Assets/(Liabilities)					3,000 (970)			134		10	3,000 (826)
					5,312			134		78	5,524
There are sufficient		resources		available, held		in	an	appropriate		form,	to enable
restricted and designated			funds to be		applied in accordance with				restrictions		imposed.
					General	Designated			Restricted
					Funds			Funds		Funds	Total
					R'000			f.'000		R'000	E'000
Fund balances	at 31 December 2019
are represented	by:
Tangible Fixed	Assets				3,522					76	3,598
Investment Properties Other Assets					2,742 (279)						2,742 (168)
					5,985			111		76	6,172

operati	ng leases, for the following mini	mum lease payments:
		2020	2019
		6'000	f.'000
Expiry	Date:
Within	1 year	23	26
2 to 5	years	19	42
		42	68

		2020	2019
		R'000	6'000
Expiry	Date:
Within	1 year	158	127
2 to 5	years	260	403
		418	530

GROUP							2020	2019
							K'000	F'000
Financial assets:
- Financial	assets	measured			at fair value	through	3,000	2,742
Statement	of Financial		Activities
- Debt instruments		measured			at amortised	cost	37	142
							3,037	2,873
Financial	liabilities:
- Measured at amortised				cost			92	98