The Soclety of Ploughmen Ltd (a compaDy Ilmlted by guarantee) report and unaudlted tIDandal statements for the year ended 30 November 2024 Company no: 01083310 Charlty no: 1062780
The SY of PlshMen Lid (a company limited by guarantee) for the yeAr ended 30 November 2024 Contents Iz8al & administrative inforntiOn Trustee's annual report Independent examinerfs r¢F Statemenl of financial xtivities Balance sheet Notes to the financial statements 8-16 The following pages do not fom) part of the statutory accounts and are prep8r&a for the members only: Incom¢ and expenditure account 17-18
The Society of Ploughmen Ltd (a company limiied by guarankn) Legal & adminithtive iDformatioD ror the year ended 30 November 2024 Charity name The klety of Houghrnen tAd Company Number 01083310 Charity Number 1062780 Registered Office Quarry Farni Tickhill Road Loversall Doncaster DNI19DH Chairnjan ML Turner Directors & Thistees JD Chappell PJ Froom CW Halliday JP Hill RWF IAybourn DJ Thomlinson ML Turner SJ Cheesman GC Sutton Secretary & Chief Executive SFrith Independent ¢xarnin¢rs The Barker Partnership 24 High Street Pateley Bridge Horrogate North Yorkshire HG3 5JU Page I
The Society of 14oughmen Ltd (a comwy limited by guaranlee) Tntstees annual report for the year ended 30 November 2024 Structur4 governAnce and management The Society of Ploughmen was fornied as a private limited company under a memorandum & articles of association on fhe 23rd November 1972. These werc amcnd¢d by a special resolution on the 20th February J979 and (hen r¢placed by new articles of asKlation, passed at the annual general meeting held on the 4th March 20]9. The company has no share capital and is limiwl by 8uarante& On the 10th June 1997, The Society of Ploughmen Ltd was accepted as a registered charAty. In accordance with the articles of association, the directors of the society shall hold their office for 3 yeajs from the date of their appointsnent. at which time they shall offer their retirement of their office at the next scheduled annual meeting. At each subsequent annual general meeting one third of the director5 must offer their retirement from office. ObJectlv£¥ & actlvltles The charity's main objective is the adVanCertnt of agriculture by promoting and encouraging the art, skill and ienc¢ of ploughing the land. The charity is principally responsible for the organisation and management of the British National PloughAng Championships and for managing the England, World & European Ploughing Teams. With more than 200 local ploughing socielies affiliated to it and a membership drawn fix)m ploughmen and women from 211 over the world, the Society AS a vibranL thriving organisalion and an influential member of the Worjd & European Ploughing Organisations. Achlevements & perfornnCe The high point of the competition ploughing season each year is the British National Ploughing Championships. This year, our 73rd evenL was held on the 12th & 13th of Octthr 2024 at Thoresby Esiate. PerlethoTPe. Nottinghamshire by kind perniission of Thoresby Fam)ing. Despite the weather, the event was a succes4 and enjoy by all who attended. In¢ernational competitions - The 2024 World Ploughing Contest was held in the Tartu. Estonia. The 2024 European Reversible Ploughing Championships was held in Marniirollq France & 2024 European Vintage Ploughing Championships was held in RathenAska. Republic of Ireland. In order to meet the costs of running the British National Ploughing Championship& the Society raises income in a variety of ways. These include entry fees to competitions, annual donalions & sponsorship, working demonstrations & trade stands. The Society adds to this by raising additional money through sale of souvenirs, raffles & tombola. Flnandal review A summary of the results of th¢ yearfs activities Is given on page 5-16 of thc accounts. The chariry reports an overdll deficit of £(3.984) (2023 - surplus of £10.510). Page 2
The &iety of Ploughmen Ltd (a company limited by guarantee) Trustees annual report for the year ended 30 November 2024 Reserves pollcy The tnistees have examined the chlS requirements for resetves in light of the main risks of the charity. In the event of a cancellation of the annual British Ploughing Championships. the charity will lose a substantial proportion of its income for that year and the TTUSt¢cs therefor& have determined that the level of unrestricted reserves of the harity must be sufficient to cover at least 2 years of expendiwre. In the opinion of the Inistees. the present level of reserves available to the charlty adequately meets this requirement. Statement of reSponbIlItIeS of the diredors Company law requires the directors to prepare financial statements for each financial year. Under that law, the dArectors have elecred to prepare the financial siatements in xcordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). In prepIng these financial statements the diTectOT5 are required to: - select suitable accounting polici&8 and apply them consistently; - make judgements and estimat¢s that are reasonable and Prudent: stafr whether applicable UK Accounting Standards have been followed. subject to any marial departures disclosed and explained in the financial staiemcnLS. - prepare the financial statements on the going concern basis unkss it is inappropria to presume that the Company will continue in business. The directors are resp)nsible for keeping proper accounting records which disclose with reasonablc awiracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2(K)6. They are also SponSible for safeguarding the assets of company and hence for taking Teasonable sfrps for the prevention and detection of fraud and other irregularities. Small company exemptions and auditors These financial Staments have been prepared in accordance with the special provisions available for small companies under part 15 of the Companies Act therefore an audit has not been caTrie4J out. This repct was approved by the trustees on ...... Trnstee slgnature Date 3.1.1.31.zoZ£
The Society of Ploughmen Ltd (a company limited by guarantee) Independent examlner's report to the trnstees on the unaudited fuwicial slatanents of The Society of Ploughmen T report on the accounts of The Society of Ploughmen Ild (charity nurnber 1062780) for the year ended 30 November 2024 which ate set out on pages 5 to 16. Respective responsibllitses of trustees and independent examiner The chariWs trustees are rvJponsible for the ppalOn of the accounts. The trnsfres consider that an audit is not required for this year under part 16 of the Companies Act 2006 & seclion 144(2) of the Charities Aci 2011 {thc 2011 Act), and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the 2011 A¢ to follow the procedures laid down in the general direttions given by the charity commission under section 145(5)(b) of the 2011 ACL and to state whether particular matters have come to our attcntion. Basls of independent examiners statemtht My exarnination was carried out in accordance with general directions given by the charity commission. An examination includes a review of the accounting recor(Ls kept by the Charity and a compartson of thc accounts presented with those records. Ir also includes considerntion of any unusual items or disclosures in the accounts and seeking explanations from all (rustees concerning any such matters. The pffxedures undertaken do not provide all the evidence that would be tequired in an audiL and consequently no opinion is given as to whether the aUllts present a knie and fair view. and the report is limited to those matters set out in the statement below. Kndependent examiners statement In the course with my cxamination. no matter has come to rny attention; (i) which gives me reasonable cause to believe that in any material res the requiTcrnents.' to keep proper accounting records in accordance with section 386 of the Companies Act 2006; to prepare accounts which accord w&th the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended PIce. Accounting and Rewting by Charities have not been met; or (li) to which. in my opinion. allention shtyjld be drawn in Order to enable a proper underslanding of the accounts to be reached. 3113124 David Thomas ACA FCCA . Independent Examiner The Barker Partnership Limi¢ed Chartered Accountants 24 High Street Pafeley Bridge Harrogate HG3 5JU
The Society of Ploughmen Ltd (a company Ilmlted by guarantee) Statement of financlal actlvltles (induding income and expenditure account) for the year ended 30 November 2024 Unrestricted Restricted Note FDnds Fund8 2024 Total 2023 Total Incoming rtsource5 Income and endowments from: Donations and legacics ChaTitable activities Other trading activities Investments 4.436 78,887 2.746 6,792 4.436 78,887 2,746 6,792 5,J55 99.735 1,122 3.439 Total 92,861 92,861 109,451 Resourcw expended Expenditure on: Charitable activities Other 10 11 25,976 70,869 25,976 70.869 35,527 63,414 Total 96,845 96,845 98,941 Net movement in funds in the year (3,984) (3.984) 10,510 Reconciliation of funds Total funds brought forward Total funds CArried forward 335,879 335.879 325.369 21 331,895 331,895 335,879 The statement of financial activities includes all gains and losses in the year. All incoming Tesources and resources expendeAI derive from continuing activities. Page S
The Soclety of Ploughmen Ltd Balance sheet as at 30 November 2024 2024 2023 Notes Fixed Assets Tangible assets 12 41.899 16.302 Current As8ets Stocks Debtors Cash at bank and in hand 227 10,014 303,138 227 9,110 325.019 14 15 313,379 334,356 Creditors: amounts falling dlle wlthln one year 16 (23,383) (14,779) Net Current &8sets 289.996 319,577 Total Assets LS Current Liabilities 331.895 335,879 The funds of the charity Unrestricted funds 21 331,895 335,879 Total charity funds 331,895 335,879 The directors, statements required by Section 475{2) and (3) are shown on the following page which fornis part of this Balance Sheet. The notes on pages 8 to 16 forni an Integral part of these financlal statement& Page 6
The Society of Ploughmen Ltd Balance sheet {contlnued) Dirtttors. statements required by SeetioTh$ 475(2) and (3) for the year ded 30 November 2024 For the year ended 30 NovemlKr 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, SpOnsIbl]Ities. . The members have not required the company to obtain an audit of its accounts for the yw in question in accordance with section 476: and . The directOTS acknowledge their responsibilities for complying with the requircments of the Act with respect to accounting records and the preparation of accounts. These attounts have been prepared in accordance with the Financial ReFK)rting SL2ndatd applicable in the UK and Republic of Ireland (FRS 102), issued 16 July 2014. with the Charities Act 2011 & the Companies Act ML Turner Chairn12n Retion number 01083310 The notes on pages 8 to 16 forni an Integral part of these statements. Page 7
The Society of Ploughmen Ltd Notes to the fue191 statements for the year ended 30 November 21)24 AccouDting poli17es 1.1. Basis of aceounting These accounts have been prepared under the historical wst convention with items recognised at cost or transaction value unles5 otherwise stated ID the Trlevant notes to the accounts. The accounts have been prepared in accordance with the Statement of Reconimended Practice: Accounting and reporting by Charities prepartng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), i&8ued 16 July 2014. with the Charities Act 2011 & the Companies Act 2006. la. Fund aecounting Unrestricted funds are available * the discretion of th¢ managemeni committee in furtherance of the general objextiv¢s of the Charity. IJ. Incoming resources Recognition of asgets & income Income is recognised in the Statement of Financial Activities (SOFA) when a transaction or other event results in an increase in the charitys a&sets or a reduction in its liabilities. Income is only rewgnised in the accounts when a]1 of the lteria regarding entitlemenL pmbable and measurement are met. Recognition of grants and donadoTh8 Income is only recognised in the accwnts when all of the criteria regarding entitlement. probable and measurement are met. In th case of a granL evidence of entitlement usually exists when the formal offer of funding is communicated in writing to the charity. However. in the event that conditions are placed on the granL those conditions must be met before income is recognised. In the case of a donation. entitlement aTises immediately on its IEceipt. Investment income Income from interest is recognised when its receipt is probable and the amount receivable can be measured accurately. 1.4. Rewurces expended Recognition of liabilitles & expthditsre Expenditure is the amount of a charity's TourS that havc bexn Snt or otherwise used in carrying out its activities. An expense results in either a dec-ease in a charity's assets or an increas¢ in its liabilities. Liabilities and expenditure are only recognised in th¢ accounts when all of the crAteria garding entitlemenL probable and Measureme are meL Governance costs Include the costs of the preparation and exaMinOn of the statutory accounts. the cost of trustees, m¢¢tings and cost of any legal advice to the trnstees on governance or constitutional niaiters. Governance costs are only recognised in th¢ xcounts when all of the criteria regarding entitlement, probable and measurement are meL Page 8
The Soclety of Ploughmen Ltd Notes to the fAn4nclal stalements for the year ended 30 November 2024 . continued IS. Employee benefits Employees benefits include all costs incurred by the charity in exchange for the services of its employees and any remunerated trustees. Expenditur¢ is recognised for all employee benefits resulting from their service to the charity during the reporting period unless the staff costs have been capitalised as part of the cost of an asseL 1.6. TangIk fLYed *&sets and depredatlon Depreciation is provided at ra5 calculated to write off the cost less residual value of each asset over its expected useful life. as follows: Plant and machinery Mowr vehicles 15% on a reducing balance basis 25% on a reducing balance basis 1.7. IAsing Renuls payable under operating leases are charged against income on a straight line basis over the1¢&8e 1.8. Stock Stock of souvenirs and ploughs. which ffpresents goods for Sale have been valued at the lower of cost and net realisable value. 1.9. Penslo The pension costs charged in the financAal statements represent the contribution payable by the company on behalf of its employee during the year. These are included within wages and were £3,698 (2023 £3.601). 1.10. nanCIal instruments FanCIal instruments are classified and accounted for, according to the substance of contractual arrangement. as either financial assets. financial liaoilities or equity instruments. An equity instrument is any contract thai evidences a Tesidual interest in the assets of the cornpany after deducting all of its liabilities. Turnover Turnover, stated net of valued added taL has been derived from its principal activity wholly undertaken in the UK. Page 9
The Society of Ploughmen Ltd Not¢s to the financial statements for the year ended 30 November 2024 . continued Net incoming resourets for the year 2024 2023 Net incoming resources is stated after charging: Depreciation and other amounts written off tangible assets and after erediting: Donations Interest receivable 13,231 4,670 4,436 6.792 5,155 3.439 Staff costs 2024 2023 Number of employees The average monthly numbers of employees during the year were: Employment Costs 2024 2023 Gross salaries & national insurance Pension costs 37,517 3,698 33,557 3,601 41,215 37,158 No employee receiveAI remuneration, expenses or benefits exceeding £60.000 during the year. Fees for independent examination of accounts 2024 2023 Independent examiners fee J.730 1,690 Page 10
The Soaety of Ploughmen Ltd Not¢s to the financial statements for the year ended 30 November 2024 . continued Donations and legaeies 2023 Membership donations Trade donations I)ODations & concessions - catering & I cream 2J20 3.560 875 720 1,275 4,436 5,155 Charhable activity income 2024 2023 Subscriptions Sponsorship Entry to ComFKtitions Receipts at Gate Advanced Ticket Sales Working Demonstrations & Stands Surplus on Raffle Plough Part Sales Prowme Sales Caravan Parking Practice plots 23.802 5.450 4.228 18,191 7.355 17.196 1,764 24.009 11.018 4,313 33,229 15.289 1.970 613 288 917 312 638 78,887 99,735 Other trading activities 2024 2023 Surplus on Sale of SvenIrs Ploughmens Trnvel Award incl seminar surplus 936 1.810 591 531 2,746 1.122 Page 11
The Soclety of Ploughmen Ltd Notes to the financial statements for the year ended 30 November 2024 . ¢oniinupAI Investments 2024 2023 Bank Interest Received 6,792 3.439 6,792 3,439 10. Charitsbk activity costs 2024 2023 Show Expenses Advertising Hire of Site Equipment Marquee hire Toilet hite Mementos. awards & trophies Steam Engines Match purchases - signs, banners. pegs etc Rent Meetings, Site Visits, Accommodation & Meals Motor Expenses Motor vehicle depreciation Surplus on sale of motor vehicle 8,272 1,842 1,409 2,987 1,935 4,993 500 818 2,498 1,910 2,979 12,407 (16.574) 5.771 3,059 749 3.257 1,961 4,763 2,191 1.862 2.435 2.162 3,508 3.809 25.976 35,527 Page 12
The Society of Plouglimen Ltd Notes to the financial statements for the year ended 30 November 2024 . continued 11. Other 2024 2023 Affiliation Fees, World & European Ploughing World & European Match Expenses Ploughmens travel awards Website and computer costs Repairs & Renewals Wages & employer pension contributions Telephone Printing. postage & stationery Depreciation on equipment I£asin8 of offiee equipment Bank Interest & Charges Light & Heat of Office Insurance Accountancy Sundries 2,741 2.666 2,761 1.038 4,000 232 764 37.158 622 6,997 861 299 1,850 1,934 2,835 1,690 373 1,279 41,215 400 7.386 824 312 1,212 1.957 2,931 1,730 216 70,869 63.414 Page 13
The Society of Ploughmen Ltd Notes to the financial statements for the year ended 30 November 2024 . continued 11 T8Dgibk red assets Plant and Motor nhlery vehides Total At l December 2023 Additions Disposals 31,673 629 36,115 67.788 49,626 50,255 (36,115) (36.115) At 30 November 2024 32,302 49.626 81,928 Depreciation At l December 2023 On disposals Charge for the year At 30 November 2024 26,797 24,689 51,486 (24,689) (24,689) 11407 13,231 824 27,621 12,407 40,028 Net book values At 30 November 2024 4.681 37,218 41,899 At 30 November 2023 4.876 11,426 16.302 13. Stocks 2024 2023 StsKks of souvenirs 227 227 14. Debtors 2023 Trade debtors Prepayments and accrued income 6.663 3,351 5,938 3,172 10,014 9.110 Page 14
The Society of Plollghmen Ltd Notrs to the flnanclal statements for the year fflded 30 November 2024 . continued 15. Cash at bank and in hand 2024 2023 National Westininster Alc Paypal Account National Savings Income Bond Santander Lloyds TSB Alc Scottish Widows Fixed Tern) 96,611 224 108,702 3,378 5,000 75,074 82,865 50,000 66,193 85.110 50.000 303,138 325.019 16. Creditors: amounts falling due within one year 2024 2023 Trade ¢dItorS Other taxes and sociaj security costs Accruals and deferred income 14.123 7.280 1.980 11,033 1,840 23,383 14.779 17. Taxation The Charity's activities fall within the exemptions afforded to Charitsble Companies under sections 466 to 493 of the Corpordtion Tax Act 2010 (cfA 2010). Thetefore no lax AS calculated on the surplus for the year. l& Company limited by goarantee The Society h&$ no share capital as it is limited by guarantee. Page 15
The SOcty of Ploughmen Ltd Noles to the fmancial stalements for the year ended 30 November 2024 . continued 19. Anajysls of net &ssets between funds Unrestrirted Restrlcted funds funds Total funds Fund balances at 30 November 2024 as represenied by: Tangible fixed assets Current assets Current liabilities 41,899 313.379 (23,383) 41.899 313,379 (23.383) 331.895 331,895 Related party transacllons No Inistees received a remuneration for services rcndered, however, when incurred, trustees reimbursed for out of pocket expenses. No trusx or anyone eonnec*d with a truste¢. has a material interest in any of the charitls transactions. 21. Analysb of funds At IncomlDg Outgolng At 30 Nov 24 Unff stricted funds Restricted funds 335.879 92.861 (96,845) 331,895 Totsl funds 335.879 92.861 (96.845) 331.895 The purpose of the unrestricted funds comprise funds which the trustees are free to use in accordance with the Chatitable objectives. The restricted funds comprise the funds received which are restricted to thc expenses in which they relate. Page 16
The Society of Plonghmen Ltd (a company thnlted by guarantee) Income & expendlture account for the year ended 30 November 2024 2024 2023 Income for general purpos subriptiOnS. Trade affiliation Members Affiliated Sociaies Vicx presidents 17,658 4.377 1,767 18,052 4.515 1,442 23,802 6,792 936 24.009 3,439 591 638 531 Bank deposit interest Surplus on Sale of Souvenirs Practice plots Ploughmens Trdvel Award incl seminar surplus 1.810 33.340 29,208 Match day Income Entry to competitions Receipts at gate Advanced Ticket Sales Working demonstrdtions & stands Annual donations & sponsorship Donations & concessions - catering & ice crea sU]us on raffle & tombola Caravan Parking Programme sales 4,228 18,191 7.355 17.196 8,611 1,275 1,764 288 613 4.313 33.229 15.289 15,453 720 1,970 312 917 59.521 80,243 Tot81 Income for the year 92,861 109,451 Expen8ts . page 18 96,845 98,941 Net surplus 1 (defielt) for year (3,984) 10.510 Page 17
The Soaety of Ploughmen Ltd (a Company limited by guarantee) Tol*1 expensts for the year ended 30 November 2024 2024 2023 Affiliation Fees, World & European Ploughin8 World & European Match Expenses Plouglunens travel awards Show expensog Match expenses Memenros. (rophies & awards Match purchases - sign& banner& pegs etc Hire of site equipmeD4 marquees etc Site equipment Marquees Toilets Steam engines Motor expenses Fuel & repairs Tax & insurance Depreciation Surplus on sale of motor vehicle Advertising Meetings, sftte visits, meals. accommodation Telephone Website and computer costs Printing. postage & stationery Wages & employer pension contributions Rent Bank interest & ¢harg¢s Light & heat of office Insurnnce Repair5 & renewals IAsing of Office equipment Accountancy Sundries Depreciation on equipment Total expens 2.741 2.666 6.0(K) 2.761 1.038 8.272 4,993 818 5.771 4.763 1,862 749 3.257 1,961 2.191 2,987 1.935 1,788 2.464 1,044 3.809 12.407 (16.574) 1,842 1,910 3,059 2,162 622 232 6,997 37.158 2.435 1,850 ,934 2,835 764 299 .690 373 861 1.279 7,386 41.215 2.498 1,212 1,957 2,931 312 1,730 216 824 96.845 98,941 Page 18