**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 2024 for Bakewell Agricultural & Horticultural Society Hadfields Chartered Certified 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 2024 |||Page|| |---|---|---|---| |Reference and Administrative Details||1|| |Report of the Trustees||2|| |Independent Examiner's Report||3|| |Statement of Financial Activities||4|| |Balance Sheet|5|to|6| |Notes to the Financial Statements|7|to|12| |Detailed Statement of Financial Activities|13|to|14| Bakewell Agricultural & Horticultural Society ## Reference and Administrative Details for the Year Ended 31 December 2024 |**TRUSTEES**|I T Else - Chairman| |---|---| ||P E Lunn| ||L J Robbins| ||A Tipple| ||P J Clayton| ||J A Moorcroft| |**REGISTERED OFFICE**|Bahs Society Office| ||Agricultural Business Centre| ||Agricultural Way| ||Bakewell| ||Derbyshire| ||DE45 1AH| |**REGISTERED COMPANY**|02949715 (England and Wales)| |**NUMBER**|| |**REGISTERED CHARITY**|1045165| |**NUMBER**|| |**INDEPENDENT EXAMINER**|Hadfields Chartered Certified 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 2024 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 2024. 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 - To promote improvement in the breeding and rearing of livestock - The invention and improvement of agricultural and horticultural implements - The encouragement of skill and industry in agriculture, horticulture and forestry. ## **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 22 May 2025 and signed on its behalf by: I T Else - Chairman - Trustee Page 2 ## 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 2024. ## **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. C Farmer ACCA Hadfields Chartered Certified Accountants Commerce House 658B Chatsworth Road Chesterfield Derbyshire S40 3JZ 22 May 2025 Page 3 ## Bakewell Agricultural & Horticultural Society ## Statement of Financial Activities ## for the Year Ended 31 December 2024 |**2024**
**Unrestricted**
**fund**
Notes
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**1,130**
**Charitable activities**
Costs of generating voluntary income
**79,461**
Other trading activities
2
**73,203**
Investment income
3
**84,872**
**Total**
**238,666**
**EXPENDITURE ON**
Raising funds
4
**83,976**
**Charitable activities**
Costs of generating voluntary income
**107,506**
**Total**
**191,482**
**NET INCOME**
**47,184**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**429,192**
**TOTAL FUNDS CARRIED FORWARD**
**476,376**|2023
Total
funds
£
335
61,468
59,695
57,888| |---|---| ||179,386| ||73,579
97,209| ||170,788| ||8,598
420,594| ||429,192| The notes form part of these financial statements Page 4 Bakewell Agricultural & Horticultural Society ## Balance Sheet ## 31 December 2024 |**2024**
**Unrestricted**
**fund**
Notes
**£**
**FIXED ASSETS**
Tangible assets
9
**15,053**
**CURRENT ASSETS**
Debtors
10
**10,845**
Cash at bank and in hand
**479,597**
**490,442**
**CREDITORS**
Amounts falling due within one year
11
**(29,119)**
**NET CURRENT ASSETS**
**461,323**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**476,376**
**NET ASSETS**
**476,376**
**FUNDS**
12
Unrestricted funds
**476,376**
**TOTAL FUNDS**
**476,376**|2023
Total
funds
£
7,258
5,112
442,281
447,393
(25,459)
421,934
429,192
429,192
429,192
429,192| |---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 5 continued... Bakewell Agricultural & Horticultural ## Society ## Balance Sheet - continued 31 December 2024 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 22 May 2025 and were signed on its behalf by: I T Else - Chairman - Trustee The notes form part of these financial statements Page 6 Bakewell Agricultural & Horticultural Society ## Notes to the Financial Statements for the Year Ended 31 December 2024 ## **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. 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 7 Bakewell Agricultural & Horticultural Society ## Notes to the Financial Statements - continued for the Year Ended 31 December 2024 |**2.**
**OTHER TRADING ACTIVITIES**
Other income
Hire of showground
Dividend income
**3.**
**INVESTMENT INCOME**
Rental income
Interest on cash deposits
Curr asset inv income
**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
Surplus/(deficit) on disposal of fixed assets|**2024**
**£**
**2,299**
**61,717**
**9,187**
**73,203**
**2024**
**£**
**49,506**
**2,237**
**33,129**
**84,872**
**2024**
**£**
**83,976**
**2024**
**£**
**3,302**
**76,676**
**10,125**
**(1,638)**|2023
£
300
51,436
7,959| |---|---|---| |||59,695| |||2023
£
47,980
1,470
8,438| |||57,888| |||2023
£
70,409| |||2023
£
1,906
67,181
10,125
3,170| ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. continued... Page 8 Bakewell Agricultural & Horticultural Society ## Notes to the Financial Statements - continued for the Year Ended 31 December 2024 ## **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
**Charitable activities**
Costs of generating voluntary income
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Costs of generating voluntary income
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**2024**
2023
**-**
1
Unrestricted
fund
£
335
61,468
59,695
57,888
179,386
73,579
97,209
170,788
8,598
420,594
429,192|**2024**
2023
**-**
1
Unrestricted
fund
£
335
61,468
59,695
57,888
179,386
73,579
97,209
170,788
8,598
420,594
429,192| |---|---|---| |||179,386| |||73,579
97,209| |||170,788| |||8,598
420,594| |||429,192| continued... Page 9 Bakewell Agricultural & Horticultural Society ## Notes to the Financial Statements - continued for the Year Ended 31 December 2024 ## **9. TANGIBLE FIXED ASSETS** |Plant and
Computer
machinery
equipment
£
£
**COST**
At 1 January 2024
**18,930**
**2,041**
Additions
**9,404**
**1,722**
Disposals
**(8,000)**
**-**
At 31 December 2024
**20,334**
**3,763**
**DEPRECIATION**
At 1 January 2024
**12,561**
**1,152**
Charge for year
**2,865**
**437**
Eliminated on disposal
**(7,971)**
**-**
At 31 December 2024
**7,455**
**1,589**
**NET BOOK VALUE**
At 31 December 2024
**12,879**
**2,174**
At 31 December 2023
6,369
889
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2024**
**£**
Trade debtors
**2,100**
Prepayments
**8,745**
**10,845**
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2024**
**£**
Trade creditors
**5,275**
PAYE, NI and Pension contributions
**1,430**
VAT
**307**
Deferred income
**14,686**
Accrued expenses
**7,421**
**29,119**|Totals
£
**20,971**
**11,126**
**(8,000)**
**24,097**
**13,713**
**3,302**
**(7,971)**
**9,044**
**15,053**
7,258
2023
£
1,982
3,130
5,112
2023
£
964
1,159
2,270
14,828
6,238
25,459| |---|---| continued... Page 10 Bakewell Agricultural & Horticultural Society ## Notes to the Financial Statements - continued for the Year Ended 31 December 2024 ## **12. MOVEMENT IN FUNDS** |At 1/1/24
£
**Unrestricted funds**
General fund
**429,192**
**TOTAL FUNDS**
**429,192**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**238,666**
**TOTAL FUNDS**
**238,666**
**Comparatives for movement in funds**
At 1/1/23
£
**Unrestricted funds**
General fund
420,594
**TOTAL FUNDS**
420,594
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
179,386
**TOTAL FUNDS**
179,386|Net
movement
At
in funds
31/12/24
£
£
**47,184**
**476,376**
**47,184**
**476,376**
Resources
Movement
expended
in funds
£
£
**(191,482)**
**47,184**
**(191,482)**
**47,184**
Net
movement
At
in funds
31/12/23
£
£
8,598
429,192
8,598
429,192
Resources
Movement
expended
in funds
£
£
(170,788)
8,598
(170,788)
8,598| |---|---| continued... Page 11 Bakewell Agricultural & Horticultural Society ## Notes to the Financial Statements - continued for the Year Ended 31 December 2024 ## **12. 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 1/1/23
£
420,594
420,594|Net
movement
in funds
£
55,782
55,782|At
31/12/24
£
476,376| |---|---|---|---| ||||476,376| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
418,052
418,052|Resources
Movement
expended
in funds
£
£
(362,270)
55,782
(362,270)
55,782|Resources
Movement
expended
in funds
£
£
(362,270)
55,782
(362,270)
55,782| |---|---|---|---| ||||55,782| ## **13. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2024. Page 12 Bakewell Agricultural & Horticultural ## Society ## Detailed Statement of Financial Activities for the Year Ended 31 December 2024 |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Appeals and donations
Members' subscription - Other
**Other trading activities**
Other income
Hire of showground
Dividend income
**Investment income**
Rental income
Interest on cash deposits
Curr asset inv income
**Charitable activities**
Fundraising income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Show expenses
Land lease
Rent, rates and water
Insurance
Light, heat and power
Telephone
Subs, affiliation fees and donations
Advertising
Sundry expenses
Printing, postage, stationery
Grants to individuals
**Support costs**
**Management**
Wages
Carried forward|2024
£
**1,033**
**97**
**1,130**
**2,299**
**61,717**
**9,187**
**73,203**
**49,506**
**2,237**
**33,129**
**84,872**
**79,461**
**238,666**
**58,232**
**10,125**
**7,406**
**3,038**
**2,159**
**1,461**
**1,025**
**12,000**
**3,605**
**1,852**
**6,603**
**107,506**
**32,175**
**32,175**|2023
£
226
109| |---|---|---| |||335
300
51,436
7,959| |||59,695
47,980
1,470
8,438| |||57,888
61,468| |||179,386
50,595
10,125
7,628
3,277
4,038
2,271
934
10,920
2,239
1,223
3,959| |||97,209
27,060
27,060| This page does not form part of the statutory financial statements Page 13 ## Bakewell Agricultural & Horticultural ## Society ## Detailed Statement of Financial Activities ## for the Year Ended 31 December 2024 |**Management**
Brought forward
Pensions
Sub-contractors
Accountancy fees
Showground repairs & maintenance
**Finance**
Credit card charges
**Information technology**
Computer software & maintenance
**Other**
Depn of plant & machinery
Depn of office equipment
Loss on sale of tangible fixed assets
**Governance costs**
Book-keeping fees
Professional fees
Independent examiners fees
Total resources expended
**Net income**|2024
£
**32,175**
**778**
**18,444**
**4,715**
**15,560**
**71,672**
**-**
**2,166**
**2,865**
**437**
**(1,638)**
**1,664**
**2,945**
**4,757**
**772**
**8,474**
**191,482**
**47,184**|2023
£
27,060
625
16,586
4,715
5,204| |---|---|---| |||54,190
11
1,697
1,467
439
3,170| |||5,076
3,001
8,814
790| |||12,605| |||170,788| |||8,598| This page does not form part of the statutory financial statements Page 14