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|CONTENTS|||PAGE||
|---|---|---|---|---|
|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|
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|Charity|Name|Name|The Royal Bath &West of England|The Royal Bath &West of England|Society|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||||
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||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|
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|||||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|
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|||||||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)|
##
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|||||||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|
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||||||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).||
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|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|
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|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|
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|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|
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|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%|
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|||||||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)|
##
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|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|
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|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|||
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|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|
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|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|
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|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|
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|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|
##