##
##
##
##
##
##
##
##
##
##
##
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##
|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)||
##
##
|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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##
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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|
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|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|
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|||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|
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|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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