| CONTENTS | PAGE | ||
| Annual Report ofthe 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 |
| REFERE | NCE AND ADMINISTR | NCE AND ADMINISTR | ATIVE DETAILS |
ATIVE DETAILS |
||
|---|---|---|---|---|---|---|
| Charity | Name | The Royal Bath 8 West of | England | Society | ||
| Charity | Number: | 1039397 | ||||
| Company | Number: | 02931640 | ||||
| Directors: | R N F Drewett DL —Chairman |
|||||
| Mrs C R Look —Vice Chairman | ||||||
| Dr LS Moir —Honorary | Treasurer | |||||
| JAlvis OBE | ||||||
| M J Felton | ||||||
| A Gibson OBE | ||||||
| M Thatcher | ||||||
| RW Uloth | ||||||
| Sir David Wills Bt | ||||||
| Mrs A BYeoman OBE | DL | |||||
| P M Thomson —appointed | 1"April 2021 | |||||
| Mrs SSeagar —appointed Mrs V E Leng —appointed |
6'"January 2022 6'"January 2022 |
|||||
| 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 | |
| Note | 2021 6'000 |
2021 f'000 |
2021 E'000 |
2020 E'000 |
2020 E'000 |
2020 K'000 |
| INCOME | ||||||
| Donations and legacies Charitable activities Other trading activities Investments Other |
32 68 1,390 214 |
1 50 |
33 118 1,390 214 |
175 363 1 151 |
10 | 175 10 363 1 151 |
| TOTAL INCOME 3,18 |
1,704 | 51 | 1,755 | 690 | 10 | 700 |
| EXPENDITURE | ||||||
| Expenditure on raising funds Expenditure on charitable activities |
579 1,337 |
9 | 579 1,346 |
777 821 |
8 | 777 829 |
| TOTAL EXPENDITURE 3,18 |
1,916 | 1,925 | 1,598 | 8 | 1,606 | |
| NET (EXPENDITURE) IINCOME | ||||||
| BEFORE GAINS ON INVESTMENT | ||||||
| PROPERTIES | (212) | 42 | (170) | (908) | 2 | (906) |
| GAINS ON INVESTMENT | ||||||
| PROPERTIES | 258 | 258 | ||||
| NET (EXPENDITURE) I INCOME | ||||||
| FOR THE YEAR AND MOVEMENT IN FUNDS |
(212) | 42 | (170) | (650) | 2 | (648) |
| RECONCILIATION OF FUNDS: |
||||||
| FUNDS BROUGHT FORWARD | 5,446 | 78 | 5,524 | 6,096 | 76 | 6,172 |
| FUNDS CARRIED FORWARD | 5,234 | 120 | 5,354 | 5,446 | 78 | 5,524 |
| Group | Group Company Company |
Group Company Company |
Group Company Company |
|||||
|---|---|---|---|---|---|---|---|---|
| Note | 2021 | 2020 | 2021 | 2020 | ||||
| K'000 | f.'000 | F'000 | F'000 | |||||
| FIXEDASSETS Tangible Assets Investment Properties |
9 10 |
3,057 3,000 |
3,350 3,000 |
3,057 3,000 |
3,350 3,000 |
|||
| Investments | 11 | |||||||
| 6,057 | 6,350 | 6,057 | 6,350 | |||||
| CURRENT ASSETS Stock Debtors |
12 13 |
17 168 |
18 54 |
17 581 |
18 72 |
|||
| Cash at Bank and | in Hand | 14 | 48 | 1 | 1 | 1 | ||
| 233 | 73 | 599 | 91 | |||||
| LIABILITIES: | Creditors Falling Due Within One Year 15 |
(636) | (899) | (516) | (540) | |||
| NET CURRENT (LIABILITIES)/ASSETS | (403) | (826) | 83 | (449) | ||||
| LIABILITIES: | Creditors | Falling | Due | |||||
| After More Than | ||||||||
| One Year | 16 | (300) | (300) | |||||
| NET ASSETS | 5,354 | 5,524 | 5,840 | 5,901 |
| Group | Group | Company | Company | |||
|---|---|---|---|---|---|---|
| Note | 2021 | 2020 | 2021 | 2020 | ||
| f.'000 | f'000 | E'000 | K'000 | |||
| FUNDS | ||||||
| Unrestricted Funds |
||||||
| General Funds Non-Charitable Trading Designated Funds |
Funds | 18 18 18 |
5,591 (486) 129 |
5,365 (53) 134 |
5,591 129 |
5,689 134 |
| 5,234 | 5,446 | 5,720 | 5,823 | |||
| Restricted Funds |
18 | 120 | 78 | 120 | 78 | |
| TOTAL FUNDS | 5,354 | 5,524 | 5,840 | 5,901 |
| Page 18 | ||||
|---|---|---|---|---|
| THE ROYAL BATH LWEST OF | ENGLAND SOCIETY | |||
| COMPANY LIMITED BY | GUARANTEE | |||
| CONSOLIDATED CASH FLOW STATEMENT |
||||
| FOR THE YEAR ENDED 31 | DECEMBER | 2021 | ||
| Note | 2021 | 2020 | ||
| f.'000 | f.'000 | |||
| Cash flows from operating activities Net cash provided by operating activities |
(a) | (239) | (284) | |
| Cash outflows from investing activities: Interest received Payments to acquire tangible fixed assets |
(17) | 1 (87) |
||
| Cash used in investing activities |
(17) | (86) | ||
| Cash inflows from financing activities: |
||||
| Interest paid Bank borrowing drawdown |
(4) 300 |
|||
| Cash used in financing activities |
296 | |||
| Increase/(decrease) in cash and cash equivalents |
40 | (370) | ||
| Cash and cash equivalents at 1 January |
(132) | 238 | ||
| Cash and cash equivalents at 31 December |
(92) | (132) |
| 2021 | 2020 | ||
|---|---|---|---|
| E'000 | F'000 | ||
| Net expenditure for the year Interest paid/(receivable) Depreciation charge Gain on revaluation ofinvestment Decrease in stock (Increase)/decrease in debtors (Decrease)/Increase in creditors |
properties | (170) 4 310 1 (114) (270) |
(648) (1) 335 (258) 3 144 141 |
| Cash flows from operating activities |
(239) | (284) |
| CD | ||||||||||||||||||||||||||
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| management below: |
a | nd | the provision of ca |
teri | ng services. A summary |
of its results is |
shown |
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| f'000 | f'000 | ||||||
| Turnover | 572 | 361 | |||||
| Cost ofSales | (10) | (54) | |||||
| Gross Profit | 562 | 307 | |||||
| Administrative company) |
Expenses (excluding | rents payable to parent | (556) | (81) | |||
| Profit on Ordinary | Activities Before Rent | 226 | |||||
| Rent Due to | Parent Company | (54) | |||||
| Profit on Ordinary | Activities | 172 | |||||
| Distribution | paid to Parent Company | 307 | |||||
| The aggregate | ofthe assets, liabilities | and funds were: | f'000 | f'000 | |||
| Assets Liabilities |
323 (224) |
362 (270) |
|||||
| 99 | 92 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| f'000 | E'000 | ||||
| Turnover | 847 | 91 | |||
| Cost ofSales | (564) | (135) | |||
| Gross (Loss) / Profit | 283 | (44) | |||
| Administrative | Expenses | (399) | (506) | ||
| (Loss) / Profit | on Ordinary | Activities | (116) | (550) | |
| Distribution paid to Parent |
Company | 17 | |||
| The aggregate | ofthe assets, liabilities | and funds were: | |||
| f'000 | E'000 | ||||
| Assets | 13 | 11 | |||
| Liabilities | (597) | (480) | |||
| (584) | (469) |
| FOR THE YEAR EN | FOR THE YEAR EN | DED 31 DECEMBER 2021 CO |
DED 31 DECEMBER 2021 CO |
DED 31 DECEMBER 2021 CO |
NTINUED | ||
|---|---|---|---|---|---|---|---|
| 5. | INCOME FROM DONATIONS | AND LEGACIES | Group | Group | |||
| 2021 | 2020 | ||||||
| F'000 | f'000 | ||||||
| Donations Coronavirus Job Retention |
Scheme (CJRS) | 4 29 |
27 148 |
||||
| 33 | 175 | ||||||
| 6. | SUPPORT COSTS | Group | Group | ||||
| 2021 | 2020 | ||||||
| K'000 | f'000 | ||||||
| Wages and Salaries Showground Costs (Facilities) Showground Costs (Office) Consultancy and Professional Finance Costs Depreciation Auditors remuneration |
Costs | 484 414 89 17 16 310 16 |
678 262 87 31 6 335 13 |
||||
| 1,346 | 1,412 | ||||||
| The analysis of auditors' |
remuneration | is | as follows: | ||||
| Group | Group | ||||||
| 2021 | 2020 | ||||||
| E'000 | f'000 | ||||||
| Audit ofthese financial statements | |||||||
| Audit offinancial statements | of subsidiary | companies | |||||
| Taxation services | |||||||
| Accountancy services |
|||||||
| 16 | 13 |
| Group | Group | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| E'000 | K'000 | ||||
| Wages and Salaries Employer's National Pension Costs Redundancy Costs |
Insurance | 401 37 19 27 |
579 54 32 13 |
||
| 484 | 678 | ||||
| The average | number | ofemployees | was: | ||
| Group | Group | ||||
| 2021 | 2020 | ||||
| Charitable activities and show organisation Site maintenance and development |
14 5 |
||||
| 13 | 19 |
| GROUP AND COMPANY | |||||
|---|---|---|---|---|---|
| Freehold | Plant, | ||||
| Showg round Freehold Buildings & Land Improvements f'000 f'000 |
Implements, Furniture &Fixtures K'000 |
Motor Vehicles f'000 |
Total E'000 |
||
| COST | |||||
| As at 1 January 2021 Additions |
158 | 7,697 | 908 17 |
38 | 8,801 17 |
| As at 31 December 2021 | 158 | 7,697 | 925 | 38 | 8818 |
| DEPRECIATION | |||||
| As at 1 January 2021 Charge for the year |
4,605 255 |
809 55 |
37 | 5,451 310 |
|
| As at 31 December 2021 | 4,860 | 864 | 37 | 5,761 | |
| NET BOOK VALUE | |||||
| As at 31 December 2021 | 158 | 2,837 | 61 | 'I | 3057 |
| As at 31 December 2020 | 158 | 3,092 | 99 | 1 | 3,350 |
| Details ofundertakings | |||||
|---|---|---|---|---|---|
| Undertaking | Holding | Proportion rights and |
ofvoting shares held |
||
| Subsidiary undertakings |
2021 | 2020 | |||
| Bath 8 West Enterprises Limited Bath and West Shows Limited Bath and West Estates Management |
Ordinary Ordinary |
100% 100% |
100% 100% |
||
| Company Limited British Cheese Awards |
Limited (+) | Ordinary Ordinary |
100% 100% |
100% 100% |
| 12. | STOCKS | Group 2021 |
Group Company Company 2020 2021 2020 |
Group Company Company 2020 2021 2020 |
Group Company Company 2020 2021 2020 |
||
|---|---|---|---|---|---|---|---|
| F'000 | F'000 | F'000 | F'000 | ||||
| Consumables | 17 | 18 | 17 | 18 | |||
| 13. | DEBTORS | Group 2021 |
Group Company Company 2020 2021 2020 |
||||
| F'000 | F'000 | f'000 | F'000 | ||||
| Trade Debtors Amounts Due Other Debtors Other Taxation Prepayments |
from Group Undertakings and Social Security and Accrued Income |
60 102 |
17 | 22 449 6 10 94 |
25 1 30 16 |
||
| 168 | 54 | 581 | 72 | ||||
| 14. | CASH | Group 2021 |
Group Company Company 2020 2021 2020 |
||||
| F'000 | F'000 | F'000 | F'000 | ||||
| Cash at bank | and | in hand | 48 | ||||
| Analysis of net debt |
At 1 | At 31 | |||||
| GROUP | Jan 2021 |
Cash flow |
Dec 2021 |
||||
| F'000 | F'000 | F'000 | |||||
| Cash at bank and Bank overdraft Bank borrowings |
in hand due in more than one year |
1 (133) |
47 (7) (300) |
48 (140) (300) |
|||
| Total | (132) | (260) | (392) |
| Group 2021 |
Group 2020 |
Company 2021 |
Company 2020 |
|
|---|---|---|---|---|
| K'000 | K'000 | E'000 | E'000 | |
| Bank Overdraft Trade Creditors Amounts Due to Group Undertakings Other Creditors Other Taxation and Social Security Accruals Deferred Income (Note 17) |
140 163 4 19 38 272 |
133 82 10 63 37 574 |
140 155 169 4 10 27 11 |
150 54 278 9 13 26 10 |
| 636 | 899 | 516 | 540 |
| CRE | DITORS: Amounts falling |
due in over one year | |||
|---|---|---|---|---|---|
| Group 2021 f'000 |
Group 2020 E'000 |
Company 2021 f'000 |
Company 2020 E'000 |
||
| Bank | borrowings | 300 | 300 |
| DEFERRED INCOME | ||||
|---|---|---|---|---|
| Group 2021 F'000 |
Group 2020 f.'000 |
Company 2021 f.'000 |
Company 2020 f.'000 |
|
| Balance Brought Forward | 574 | 421 | 10 | 10 |
| Trade Stand and other Advanced Bookings Received Rent Received Membership Received |
69 42 1 |
189 312 25 |
10 1 |
122 25 |
| Released to Statement of Financial Activities |
(414) | (373) | (10) | (147) |
| Balance Carried Forward | 272 | 574 | 10 | |
| Deferred income will be applied as follows: |
||||
| Deferred Income |
272 | 574 | 10 | |
| Within 1 year |
272 | 574 | 10 |
| GROUP | As at1 | As at 31 | |||||||
|---|---|---|---|---|---|---|---|---|---|
| January | Transfers | December | |||||||
| 2021 E'000 |
Income E'000 |
Expenditure F'000 |
and Gains f'000 |
2021 K'000 |
|||||
| Unrestricted Funds: |
|||||||||
| General Funds Mendip DC grants Bath and West Shows Ltd Bath 8 West Enterprises Ltd |
5,689 (469) 92 |
217 68 847 572 |
(599) (962) (350) |
216 — (216) |
5,523 68 (584) 98 |
||||
| Designated Funds: |
|||||||||
| Charity Committee Young People's Funds |
30 4 |
(5) | 25 4 |
||||||
| Infrastructure Upgrade |
100 | 100 | |||||||
| Total Unrestricted | |||||||||
| Funds | 5,446 | 1,704 | (1,916) | 5,234 | |||||
| Restricted Funds: | |||||||||
| Showering Pavilion |
|||||||||
| Heating System South West Growth Fund Rural Development Programme 20 35 |
(2) (3) |
18 32 |
|||||||
| for England (RDPE) Field to Food Learning Mendip DC REC FBD |
Day Grant |
4 10 4 |
(3) | 1 10 4 |
|||||
| Mendip DC First Aid Grant Somerset CC Business Restart 5 |
4 | ||||||||
| and Recovery Fund | 50 | 50 | |||||||
| Mental Health in Agriculture |
1 | 1 | |||||||
| Total Restricted Funds | 78 | 51 | (9) | 120 | |||||
| Total Funds | 5,524 | 1,755 | (1,925) | 5,354 |
| GROUP As at1 January 2020 E'000 |
GROUP As at1 January 2020 E'000 |
Income f'000 |
Transfers Expenditure and Gains f'000 E'000 |
Transfers Expenditure and Gains f'000 E'000 |
As at 31 December 2020 F'000 |
As at 31 December 2020 F'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 Infrastructure Upgrade |
7 4 100 |
27 | (4) | 30 4 100 |
||
| Total Unrestricted Funds |
6,096 | 690 | (1,598) | 258 | 5,446 | |
| Restricted Funds: | ||||||
| Showering Pavilion Heating System South West Growth Fund |
22 38 |
(2) (3) |
20 35 |
|||
| Rural Development Programme for England (RDPE) Field to Food Learning Day Mendip DC REC F8D Grant Mendip DC First Aid Grant |
10 | (3) | 4 10 4 5 |
|||
| Total Restricted Funds | 76 | 10 | (8) | 78 | ||
| Total Funds | 6,172 | 700 | (1,606) | 258 | 5,524 |
| ANALYSIS OF GROUP | NET AS | SETS BETWEEN | FUNDS | FUNDS | FUNDS | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| General | Designated | Restricted | ||||||||
| Funds | Funds | Funds | Total | |||||||
| E'000 | E'000 | E'000 | E'000 | |||||||
| Fund balances at 31 December 2021: Tangible Fixed Assets Investment Properties Other Assets/(Liabilities) 3,002 3,000 (897) |
129 | 55 65 |
3,057 3,000 (703) |
|||||||
| 5,105 | 129 | 120 | 5,354 | |||||||
| There are sufficient resources available, held in an appropriate form, restricted and designated funds to be applied in accordance with restrictions |
to enable imposed. |
|||||||||
| General | Designated | Restricted | ||||||||
| Funds | Funds | Funds | Total | |||||||
| E'000 | P'000 | K'000 | f.'000 | |||||||
| Fund balances at 31 December 2020: Tangible Fixed Assets Investment Properties Other Assets/(Liabilities) 3,282 3,000 (970) |
134 | 68 10 |
3,350 3,000 (826) |
|||||||
| 5,312 | 134 | 78 | 5,524 |
| operati | ng leases, for the following mini |
mum lease payments: |
|
|---|---|---|---|
| 2021 | 2020 | ||
| Expiry | Date: | F'000 | F'000 |
| Within 2to 5 |
1 year years |
15 4 |
23 19 |
| 19 | 42 |
| operati | ng leases, for the following mini |
mum lease payments: |
|
|---|---|---|---|
| 2021 | 2020 | ||
| Expiry | Date: | E'000 | F'000 |
| Within 2 to 5 |
1 year years |
145 130 |
158 260 |
| 275 | 418 |
| The carrying amount ofthe |
Group's financial instruments |
at 31 December we | re: |
|---|---|---|---|
| GROUP | 2021 f.'000 |
2020 E'000 |
|
| Financial assets: | |||
| —Financial assets measured the statement offinancial |
at fair value through activities |
3,000 | 3,000 |