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2021-12-31-accounts

REGISTERED COMPANY NUMBER: 02949715 (England and Wales) REGISTERED CHARITY NUMBER: 1045165

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Bakewell Agricultural & Horticultural Society

Hadfields Chartered Accountants Commerce House 658B Chatsworth Road Chesterfield Derbyshire S40 3JZ

Bakewell Agricultural & Horticultural Society

Contents of the Financial Statements for the Year Ended 31 December 2021

Page
Reference and Administrative Details 1
Report of the Trustees 2
Trustees' Responsibility Statement 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 13
Detailed Statement of Financial Activities 14 to 15

Bakewell Agricultural & Horticultural Society

Reference and Administrative Details for the Year Ended 31 December 2021

TRUSTEES I T Else - Chairman G G Crawford P E Lunn L J Robbins A Tipple P J Clayton (appointed 23.9.2021) J A Moorcroft (appointed 23.9.2021) COMPANY SECRETARY G G Crawford REGISTERED OFFICE Bahs Society Office Agricultural Business Centre Agricultural Way Bakewell Derbyshire DE45 1AH

REGISTERED COMPANY NUMBER 02949715 (England and Wales) REGISTERED CHARITY NUMBER 1045165

INDEPENDENT EXAMINER Hadfields Chartered Accountants Commerce House 658B Chatsworth Road Chesterfield Derbyshire S40 3JZ SOLICITORS Taylor & Emmet LLP

Page 1

Bakewell Agricultural & Horticultural Society

Report of the Trustees for the Year Ended 31 December 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES Objectives and activities

Public benefit

Significant activities

The rental of freehold land

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Financial Instruments

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Objectives and Policies

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity's policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Credit Risk

The charity's principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Approved by order of the board of trustees on 8 August 2022 and signed on its behalf by:

I T Else - Chairman - Trustee

Page 2

Bakewell Agricultural & Horticultural Society

Trustees' Responsibility Statement for the Year Ended 31 December 2021

The trustees (who are also the directors of Bakewell Agricultural & Horticultural Society for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 8th August 2022 and signed on its behalf by:

Ian Else Chairman and Trustee

Page 3

Independent Examiner's Report to the Trustees of Bakewell Agricultural & Horticultural Society

Independent examiner's report to the trustees of Bakewell Agricultural & Horticultural Society ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

M A Hadfield FCA Hadfields Chartered Accountants Commerce House 658B Chatsworth Road Chesterfield Derbyshire S40 3JZ

8 August 2022

Page 4

Bakewell Agricultural & Horticultural Society

Statement of Financial Activities

for the Year Ended 31 December 2021

2021
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
312
Other trading activities
2
36,007
Investment income
3
48,021
Other income
-
Total
84,340
EXPENDITURE ON
Raising funds
4
42,752
Charitable activities
Costs of generating voluntary income
33,329
Other
7,670
Total
83,751
NET INCOME
589
RECONCILIATION OF FUNDS
Total funds brought forward
436,903
TOTAL FUNDS CARRIED FORWARD
437,492		 2020
Total
funds
£
1,426
8,665
48,369
25,000
83,460
22,744
29,237
17,694
69,675
13,785
423,118
436,903

The notes form part of these financial statements

Page 5

Bakewell Agricultural & Horticultural Society

Balance Sheet

31 December 2021

2021
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
9
9,915
CURRENT ASSETS
Debtors
10
233
Cash at bank and in hand
448,049
448,282
CREDITORS
Amounts falling due within one year
11
(20,705)
NET CURRENT ASSETS
427,577
TOTAL ASSETS LESS CURRENT LIABILITIES
437,492
CREDITORS
Amounts falling due after more than one year
12
-
NET ASSETS
437,492
FUNDS
13
Unrestricted funds
437,492
TOTAL FUNDS
437,492		 2020
Total
funds
£
11,602
4,785
445,658
450,443
(24,941)
425,502
437,104
(201)
436,903
436,903
436,903

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 6

continued...

Bakewell Agricultural & Horticultural Society

Balance Sheet - continued 31 December 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 8 August 2022 and were signed on its behalf by:

I T Else - Chairman - Trustee

The notes form part of these financial statements

Page 7

Bakewell Agricultural & Horticultural Society

Notes to the Financial Statements for the Year Ended 31 December 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Governance costs

These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including the independent examination, strategic management and trustees' meetings and reimbursed expenses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold land - in accordance with the property
Plant and machinery - 20% on reducing balance
Computer equipment - 33% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 8

Bakewell Agricultural & Horticultural Society

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

2. OTHER TRADING ACTIVITIES

Other income
Bank switch incentive
Hire of showground
3.
INVESTMENT INCOME
Rental income
Interest on cash deposits
4.
RAISING FUNDS
Raising donations and legacies
Support costs
5.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Sundry show expenses
Other operating leases		 2021
£
8,578
-
27,429
36,007
2021
£
47,980
41
48,021
2021
£
42,752
2021
£
1,687
8,448
10,125		 2020
£
3,707
4,000
958
8,665
2020
£
47,980
389
48,369
2020
£
22,744
2020
£
636
892
10,125

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

continued...

Page 9

Bakewell Agricultural & Horticultural Society

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

7. STAFF COSTS

The average monthly number of employees during the year was as follows:

Management
No employees received emoluments in excess of £60,000.
8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
Investment income
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Costs of generating voluntary income
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2021
2020
1
1
Unrestricted
fund
£
1,426
8,665
48,369
25,000
83,460
22,744
29,237
17,694
69,675
13,785
423,118
436,903		 2021
2020
1
1
Unrestricted
fund
£
1,426
8,665
48,369
25,000
83,460
22,744
29,237
17,694
69,675
13,785
423,118
436,903
83,460
22,744
29,237
17,694
69,675
13,785
423,118
436,903

continued...

Page 10

Bakewell Agricultural & Horticultural Society

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

9. TANGIBLE FIXED ASSETS

Freehold
Plant and
Computer
land
machinery
equipment
£
£
£
COST
At 1 January 2021
7,764
30,586
30,063
Disposals
-
(14,726)
(28,922)
At 31 December 2021
7,764
15,860
1,141
DEPRECIATION
At 1 January 2021
4,595
23,066
29,150
Charge for year
-
1,504
183
Eliminated on disposal
-
(14,726)
(28,922)
At 31 December 2021
4,595
9,844
411
NET BOOK VALUE
At 31 December 2021
3,169
6,016
730
At 31 December 2020
3,169
7,520
913
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Trade debtors
200
Prepayments
33
233
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Trade creditors
980
Social security and other taxes
(3,622)
Pension Fund
107
VAT
4,661
Deferred income
14,927
Accrued expenses
3,652
20,705		 Totals
£
68,413
(43,648)
24,765
56,811
1,687
(43,648)
14,850
9,915
11,602
2020
£
-
4,785
4,785
2020
£
3,147
468
104
2,870
15,171
3,181
24,941

continued...

Page 11

Bakewell Agricultural & Horticultural

Society

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Deferred life members subscriptions
13.
MOVEMENT IN FUNDS
At 1/1/21
£
Unrestricted funds
General fund
436,903
TOTAL FUNDS
436,903
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
84,340
TOTAL FUNDS
84,340
Comparatives for movement in funds
At 1/1/20
£
Unrestricted funds
General fund
423,118
TOTAL FUNDS
423,118
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
83,460
TOTAL FUNDS
83,460		 2021
2020
£
£
-
201
Net
movement
At
in funds
31/12/21
£
£
589
437,492
589
437,492
Resources
Movement
expended
in funds
£
£
(83,751)
589
(83,751)
589
Net
movement
At
in funds
31/12/20
£
£
13,785
436,903
13,785
436,903
Resources
Movement
expended
in funds
£
£
(69,675)
13,785
(69,675)
13,785		 2021
2020
£
£
-
201
Net
movement
At
in funds
31/12/21
£
£
589
437,492
589
437,492
Resources
Movement
expended
in funds
£
£
(83,751)
589
(83,751)
589
Net
movement
At
in funds
31/12/20
£
£
13,785
436,903
13,785
436,903
Resources
Movement
expended
in funds
£
£
(69,675)
13,785
(69,675)
13,785		 2020
£
201
13,785

continued...

Page 12

Bakewell Agricultural & Horticultural Society

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1/1/20
£
423,118
423,118		 Net
movement
At
in funds
31/12/21
£
£
14,374
437,492
14,374
437,492		 Net
movement
At
in funds
31/12/21
£
£
14,374
437,492
14,374
437,492
437,492

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 167,800 (153,426) 14,374
TOTAL FUNDS 167,800 (153,426) 14,374

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2021.

Page 13

Bakewell Agricultural & Horticultural

Society

Detailed Statement of Financial Activities for the Year Ended 31 December 2021

2021 2020
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Appeals and donations 36 389
Members' subscription - Life 201 657
Members' subscription - Other 75 380
312 1,426
Other trading activities
Other income 8,578 3,707
Bank switch incentive - 4,000
Hire of showground 27,429 958
36,007 8,665
Investment income
Rental income 47,980 47,980
Interest on cash deposits 41 389
48,021 48,369
Other income
Government grants - 25,000
Total incoming resources 84,340 83,460
EXPENDITURE
Charitable activities
Show expenses 778 774
Land lease 10,125 10,125
Rent, rates and water 8,537 6,764
Insurance 3,115 2,917
Light, heat and power 74 1,131
Telephone 2,605 2,905
Subs, affiliation fees and donations 343 293
Advertising 810 2,724
Sundry expenses 633 323
Printing, postage, stationery 1,280 1,281
Grants to individuals 5,029 -
33,329 29,237
Support costs
Management
Wages 24,197 10,361
Carried forward 24,197 10,361

This page does not form part of the statutory financial statements

Page 14

Bakewell Agricultural & Horticultural

Society

Management
Brought forward
Pensions
Sub-contractors
Office expenses
Showground repairs & maintenance
Finance
Credit card charges
Discounts
Information technology
Computer software & maintenance
Other
Depn of plant & machinery
Depn of office equipment
Governance costs
Book-keeping fees
Professional fees
Independent examiners fees
Total resources expended
Net income		 Detailed Statement of Financial Activities
for the Year Ended 31 December 2021
2021
2020
£
£
24,197
10,361
539
-
7,670
118
4,715
6,068
1,538
8,570
38,659
25,117
61
401
1
32
62
433
1,613
7,673
1,504
556
183
80
1,687
636
2,248
4,020
5,453
1,909
700
650
8,401
6,579
83,751
69,675
589
13,785		 Detailed Statement of Financial Activities
for the Year Ended 31 December 2021
2021
2020
£
£
24,197
10,361
539
-
7,670
118
4,715
6,068
1,538
8,570
38,659
25,117
61
401
1
32
62
433
1,613
7,673
1,504
556
183
80
1,687
636
2,248
4,020
5,453
1,909
700
650
8,401
6,579
83,751
69,675
589
13,785
25,117
401
32
433
7,673
556
80
636
4,020
1,909
650
6,579
69,675
13,785

This page does not form part of the statutory financial statements

Page 15