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2022-12-31-accounts

The Royal Bath and West ofEngland Society- Group
Accounts and audit adjustments		 The Royal Bath and West ofEngland Society- Group
Accounts and audit adjustments
Profit I(Loss) per inkial trial balance Profit
Dr
5		 and Loss
Cr
6		 Balance Sheet
Dr
Cr
6
6		 BifReserves
Dr
6		 Cr
6		 Piofit
effect
5
Adjusted
audit Journals		 (74,054)
Society
1 Freehold Showground
buildings - cost disposal
Freehold
Showground
buildings
-depreciation
disposal
Profit/ loss an disposal ofFA
Disposal ofbiomass boilerin
Showering
Pavigion noted as notin use		 32,829 48,445 81,274 (32829)
2 Fixtures and filtings depreciation
charge
Fixtures and fittings depreciation
charge
Being correction ofover depreciation
ofFixtures and I'dtings assets
dua to register not being rolled forward correctly for some assets		 20,622 20,622 20,622
3 Intercompany
-Enterprises
Gift aid dMdend 6,359
Being recognition
atdividend
ofEnterprises		 2021profits 6,359 6,359
Enterprises
4 Dividend
paid
Intercom pany -Society
Being recognition
ofdividend ofEnterprises		 2021profits 6,359 6,359 (6,359)
5 Bank
VAT liabifiy 48,991
Being reversal ofbank payment of VATliability to Society which only
cleared the bank statement
31.01.2023		 48,991
6 Bad debt charge
Bad debt provision
Being bad debt provision for Hayes		 50,000 50,000 (50,000)
Proth I(Lass) per current draft accounts
Unadjusted
audit differences		 (136,261)
Specific errors
Shows
7 Trade Debtors
Trade Creditors 3,289
Presentational
reclassifi cation ofcredit balances in Trade Debtors Ledger
to Trade Creditors		 3,289
Unadjusted
items in prior year impacting
current year
Enterprises
8 Income
P&L reserve
Being Utilifies recharge income for Hayes that relate to fhe period
Aug 2018-Dec 2021 that should have been recognised in prior year
Total amount is immaterial
so no prior year adjusts nt required.
Noted for information
only.		 3,119 3,119 (3,119)
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CONTENTS
PAGE
Annual
Report ofthe Directors
Independent Auditor's
Report to the		 Members 12
Consolidated Statement
of Financial		 Activities 16
Consolidated and Company
Balance Sheets		 17
Consolidated Cash Flow Statement 19
Notes to the Consolidated
Financial		 Statements 20

REFER ENCE AND ADMINIST ENCE AND ADMINIST RATIVE
DETAILS		 RATIVE
DETAILS		 RATIVE
DETAILS
Charity Name The Royal Bath 8 West of England Society
Charity Number: 1039397
Company Number: 02931640
Directors: Mrs C R Look —Chairman
Dr LS Moir —Honorary Treasurer
M J Felton
A Gibson OBE
Mrs V E Leng
Mrs SSeagar		 —appointed
—appointed		 6'"January
6'"January		 2022
2022
M Thatcher
P M Thomson
R W Uloth
Sir David Wills Bt
David Cotton - appointed 15'"July 2022
Ellen Kingston —appointed 15'"July 2022
Chief Executive: Carol Paris - Appointed 4'"July 2022
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
7 Henry Street
Bath
BA1 1JR

Note
Unrestricted
Funds
2022
E'000		 Note
Unrestricted
Funds
2022
E'000		 Restricted
Funds
2022
E'000		 Total
Funds
2022
8'000		 Unrestricted
Funds
2021
6'000		 Restricted
Funds
2021
E'000		 Total
Funds
2021
f'000
INCOME
Donations
and legacies
Charitable
activities
Other trading
activities
Investments		 2,539 2,539 32
68
1,390		 1
50		 33
118
1,390
Other 407 407 214 214
TOTAL INCOME
3,18		 2,949 2,951 1,704 51 1,755
EXPENDITURE
Expenditure
on raising funds
Expenditure
on charitable
activities		 1,175
1,856		 56 1,175
1,912		 579
1,337		 9 579
1,346
TOTAL EXPENDITURE
3,18		 3,031 56 3,087 1,916 9 1,925
NET (EXPENDITURE)
/ INCOME
BEFORE GAINS ON INVESTMENT
PROPERTIES (82) (54) (136) (212) 42 (170)
GAINS ON INVESTMENT
PROPERTIES
NET (EXPENDITURE)
/ INCOME
FOR THE YEAR AND MOVEMENT
IN FUNDS		 (82) (54) (136) (212) 42 (170)
RECONCILIATION
OF FUNDS:
FUNDS BROUGHT FORWARD 5,234 120 5,354 5,446 78 5,524
FUNDS CARRIED FORWARD 5,152 66 5,218 5,234 120 5,354
Group Group Company Company
Note 2022 2021 2022 2021
K'000 E'000 f.'000 E'000
FIXEDASSETS
Tangible Assets
Investment
Properties
Investments		 9
10
11		 2,754
3,000		 3,057
3,000		 2,754
3,000		 3,057
3,000
5,754 6,057 5,754 6,057
CURRENT ASSETS
Stock 12 17 17 17 17
Debtors 13 259 168 628 581
Cash at Bank and in Hand 14 107 48 43 1
383 233 688 599
LIABILITIES: Creditors Falling Due
Within One Year 15 (538) (636) (367) (516)
NET CURRENT (LIABILITIES)/ASSETS (155) (403) 321 83
LIABILITIES: Creditors Falling Due
After More Than
One Year 16 (381) (300) (381) (300)
NET ASSETS 5,218 5,354 5,694 5,840
Group Group Company Company
Note 2022 2021 2022 2021
K'000 f'000 f'000 R'000
FUNDS
Unrestricted
Funds
General
Funds
Non-Charitable
Trading
Designated
Funds		 Funds 18
18
18		 5,508
(476)
120		 5,591
(486)
129		 5,508
120		 5,591
129
5,152 5,234 5,628 5,720
Restricted
Funds		 18 66 120 66 120
TOTAL FUNDS 5,218 5,354 5,694 5,840

Note 2022 2021
E'000 E'000
Cash flows from operating activities
Net. cash provided
by operating		 activities (a) 115 (239)
Cash outflows
from investing
activities:
Payments
to acquire tangible		 fixed assets (3) (17)
Cash used in investing
activities		 (3) (17)
Cash inflows from financing activities:
Interest paid
Bank borrowing
drawdown		 (13)
100		 (4)
300
Cash used
in financing
activities		 87 296
Increase/(decrease)
in cash		 and cash equivalents 199 40
Cash and cash equivalents at 1January (92) (132)
Cash and cash equivalents at 31 December 107 (92)

(a) Reconciliation
of net income to net cash		 provided
by operating
acti		 vities
2022 2021
E'000 f.'000
Net expenditure
for the year
Interest paid/(receivable)
Depreciation
charge/loss
on disposal
Decrease
in stock		 (136)
12
305		 (170)
(1)
310
(Increase)/decrease
in debtors
(Decrease)/Increase
in creditors		 (89)
23		 1
(114)
(270)
Cash flows from operating
activities		 115 (239)

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2022 2021
f.'000 K'000
Turnover 883 572
Cost ofSales (271) (162)
Gross Profit 612 410
Administrative Expenses (excluding rents payable to parent co.) (362) (404)
Profit on Ordinary Activities Before Rent 250 222
Rent Due to Parent Company 216 216
Profit on Ordinary Activities
Distribution paid to Parent Company
The aggregate ofthe assets, liabilities and funds were:
E'000 6'000
Assets 400 332
Liabilities (274) (224)
126 99

2022 2021
8'000 K'000
Turnover 1,656 847
Cost ofSales (1,142) (564)
Gross (Loss) / Profit 514 283
Administrative Expenses (531) (399)
(Loss) / Profit on Ordinary Activities (17) (116)
Distribution
paid to Parent		 Company 17
The aggregate ofthe assets, liabilities and funds were:
R'000 E'000
Assets 94 13
Liabilities (696) (597)
(602) (584)

5. INCOM E F ROM DON ATIO NS AND LE GACIES
Group Group
2022 2021
E'000 K'000
Donations
Coronavirus Job Retention Scheme (CJRS) 29
5 33
6. SUPPORT COSTS
Group Group
2022 2021
K'000 K'000
Wages and Salaries 597 484
Showground Costs (Facilities) 702 414
Showground Costs (Office) 155 89
Consultancy and Professional Costs 50 17
Finance Costs 89 16
Depreciation 305 310
Auditors' remuneration 14 16
1,912 1,346
The analysis ofauditors' remuneration is as follows:
Group Group
2022 2021
E'000 E'000
Audit of these financial statements
Audit of financial statements of subsidiary companies
Taxation services
Accountancy services
14 16

STAFF C O STS
Group Group
2022 2021
E'000 f.'000
Wages and Salaries 528 401
Employer's National Insurance 49 37
Pension Costs 20 19
Redundancy Costs 27
597 484
The average number ofemployees was:
Group Group
2022 2021
Charitable activities and show organisation 16
Site maintenance and development 4
20 13

GROUP AND COMPANY
Freehold Plant,
Freehold Showg round
Buildings
&		 Implements,
Furniture		 Motor
Land Improvements &Fixtures Vehicles Total
K'000 E'000 E'000 K'000
f'000
COST
As at 1 January 2022
Additions		 158 7,697 925
3		 38 8,818
3
Disposals (81) (81)
As at 31 December 2022 158 7,616 928 38 8,740
DEPRECIATION
As at 1 January 2022
Charge for the year		 4,860
273		 864
32		 38 5,761
305
Eliminated
on Disposal		 (81) (81)
As at 31 December 2022 5,052 896 38 5,986
NET BOOK VALUE
As at 31 December 2022 158 2,564 32 2,754
As at 31 December 2021 158 2,837 61 3,057

VALUATION
As at 1 January and 31 December 2022

Details of undertakings
Undertaking Holding Proportion
rights and		 ofvoting
shares held
2022 2021
Subsidiary
undertakings
Bath &West Enterprises Limited Ordinary 100% 100%
Bath and West Shows Limited Ordinary 100% 100%
Bath and West Estates Management
Company
Limited		 Ordinary 100% 100%
British Cheese Awards Limited (+) Ordinary 100% 100%

Group Group Company Company
2022 2021 2022 2021
E'000 K'000 E'000 K'000
Consumables 17 17 17 17
13. DEBTORS
Group Group Company Company
2022 2021 2022 2021
K'000 R'000 E'000 E'000
Trade Debtors 139 60 19 22
Amounts Due from Group Undertakings 556 449
Other Debtors 6
Other Taxation and Social Security 30 22 10
Prepayments and Accrued Income 90 102 31 94
259 168 628 581
14. CASH
Group Group Company Company
2022 2021 2022 2021
E'000 K'000 6'000 E'000
Cash at bank and in hand 107 48 43
Analysis of net debt
At 1 At 31
GROUP Jan Cash Dec
2022 flow 2022
E'000 E'000 P'000
Cash at bank and in hand 48 59 107
Bank overdraft
Bank borrowings		 (140)
(300)		 140
(100)		 (0)
(400)
Total (392) 99 (293)

Group Group Company Company
2022 2021 2022 2021
f'000 E'000 K'000 K'000
Bank Overdraft 140 140
Bank borrowings 19 19
Trade Creditors 123 163 88 155
Amounts
Due to Group Undertakings		 179 169
Other Creditors 13 4 3 4
Other Taxation and Social Security 81 19 31 10
Accruals 55 38 36 27
Deferred
Income (Note 17)		 247 272 11 11
538 636 367 516

CRE DITORS: Amounts
falling		 due in over one year
Group Group Company Company
2022 2021 2022 2021
K'000 E'000 E'000 E'000
Bank borrowings 381 300 381 300

Group Group Company Company
2022 2021 2022 2021
K'000 f'000 E'000 E'000
Balance Brought Forward 272 574 10
Trade Stand and other Advanced
Bookings Received 39 69
Rent Received 61 42 10 10
Membership
Received		 1 1 1 1
Released to Statement of Financial
Activities (126) (414) (10)
Balance Carried Forward 247 272 11 11
Deferred income will be applied as follows:
Deferred
Income		 247 272
Within
1 year		 247 272

STATEMENT OF FUNDS STATEMENT OF FUNDS STATEMENT OF FUNDS
GROUP As at1 As at 31
January Transfers December
2022 Income Expenditure and Gains 2022
f.'000 E'000 R'000 K'000 E'000
Unrestricted
Funds:
General
Funds		 5,523 409 (647) 222 5,507
Mendip
DC grants		 68 (68)
Bath and West Shows Ltd
Bath 8 West Enterprises
Ltd		 (584)
98		 1,656
883		 (1,674)
(633)		 (222) (602)
126
Designated
Funds:
Charity Committee
Young People's Funds		 25
4		 (8)
(1)		 17
4
Infrastructure
Upgrade		 100 100
Total Unrestricted
Funds 5,234 2,949 (3,031) 5,152
Restricted
Funds:
Showering
Pavilion
Heating
System		 18 (2) 16
South West Growth Fund 32 (3) 29
Rural Development Programme
for England
(RDPE)		 1
Field to Food Learning Day 10 10
Mendip
DC REC FKD		 Grant 4 4
Mendip
DC First Aid		 Grant 4 4
Somerset CC Business Restart
and Recovery Fund 50 (50)
Mental
Health
in Agriculture		 1
The Queens Canopy
Total Restricted
Funds		 120 (56) 66
Total Funds 5,354 2,951 (3,087) 5,218

GROUP As at1 As at 31
January Transfers December
2021 Income Expenditure and Gains 2021
K'000 E'000 6'000 K'000 E'000
Unrestricted
Funds:
General
Funds		 5,689 217 (599) 216 5,523
Mendip
DC grants		 68 68
Bath and West Shows Ltd
Bath 5West Enterprises
Ltd		 (469)
92		 847
572		 (962)
(350)		 (216) (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 20 (2) 18
South West Growth Fund (3)
Rural Development Programme
for England
(RDPE)
Field to Food Learning		 Day 4
10		 (3) 1
10
Mendip
DC REC F8		 D Grant 4 4
Mendip
DC First Aid		 Grant 5 4
Somerset CC Business Restart
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

ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS
General Designated Restricted
Funds Funds Funds Total
K'000 K'000 R'000 E'000
Fund balances at 31 December 2022:
Tangible
Fixed Assets
Investment
Properties
Other Assets/(Liabilities)		 2,709
3,000
(627)		 120 45
21		 2,754
3,000
(486)
5,081 120 66 5,268
and designated
funds to be applied
in a		 ccordance with restriction s
imposed.
General Designated Restricted
Funds Funds Funds Total
E'000 f.'000 K'000 f'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 78 5,354

2022 2021
E'000 E'000
Expiry Date:
Within 1 year 15
2 to 5 years
19
2021
f.'000
Expiry Date:
Within 1 year 145 145
2to 5 years 130
145 275

The Royal Bath and West ofEngland Society- Group
Accounts and audit adjustments		 The Royal Bath and West ofEngland Society- Group
Accounts and audit adjustments
Profit I(Loss) per inkial trial balance Profit
Dr
5		 and Loss
Cr
6		 Balance Sheet
Dr
Cr
6
6		 BifReserves
Dr
6		 Cr
6		 Piofit
effect
5
Adjusted
audit Journals		 (74,054)
Society
1 Freehold Showground
buildings - cost disposal
Freehold
Showground
buildings
-depreciation
disposal
Profit/ loss an disposal ofFA
Disposal ofbiomass boilerin
Showering
Pavigion noted as notin use		 32,829 48,445 81,274 (32829)
2 Fixtures and filtings depreciation
charge
Fixtures and fittings depreciation
charge
Being correction ofover depreciation
ofFixtures and I'dtings assets
dua to register not being rolled forward correctly for some assets		 20,622 20,622 20,622
3 Intercompany
-Enterprises
Gift aid dMdend 6,359
Being recognition
atdividend
ofEnterprises		 2021profits 6,359 6,359
Enterprises
4 Dividend
paid
Intercom pany -Society
Being recognition
ofdividend ofEnterprises		 2021profits 6,359 6,359 (6,359)
5 Bank
VAT liabifiy 48,991
Being reversal ofbank payment of VATliability to Society which only
cleared the bank statement
31.01.2023		 48,991
6 Bad debt charge
Bad debt provision
Being bad debt provision for Hayes		 50,000 50,000 (50,000)
Proth I(Lass) per current draft accounts
Unadjusted
audit differences		 (136,261)
Specific errors
Shows
7 Trade Debtors
Trade Creditors 3,289
Presentational
reclassifi cation ofcredit balances in Trade Debtors Ledger
to Trade Creditors		 3,289
Unadjusted
items in prior year impacting
current year
Enterprises
8 Income
P&L reserve
Being Utilifies recharge income for Hayes that relate to fhe period
Aug 2018-Dec 2021 that should have been recognised in prior year
Total amount is immaterial
so no prior year adjusts nt required.
Noted for information
only.		 3,119 3,119 (3,119)
praf@f (jiiraa) iifaBthe abtsvw atasaasljmdarf
prafffibnpaafiofi'a~
esatsfiaw		 {1i38380)
{Sititg)