Registration number: 03221140
## Epworth & District Agricultural Society Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 October 2020
Hepworth Griffiths Chartered Accountants 47/49 Grove Street Retford Nottinghamshire DN22 6LA
## **Epworth & District Agricultural Society Limited**
## **Contents**
|Company Information|1|
|---|---|
|Directors' Report|2|
|Accountants' Report|3|
|Profit and Loss Account|4|
|Statement of Comprehensive Income|5|
|Balance Sheet|6|
|Statement of Changes in Equity|7|
|Notes to the Financial Statements|8 to 10|
## **Epworth & District Agricultural Society Limited**
## **Company Information**
**Directors** Mr S Boor Mr I Allport Mr D Poulter Mr P Goodall Mrs M Antcliff Mr P Naughton **Company secretary** Mrs Janice Banks **Registered office** 38 High Street Belton Doncaster South Yorkshire DN9 1LR **Accountants** Hepworth Griffiths Chartered Accountants 47/49 Grove Street Retford Nottinghamshire DN22 6LA
Page 1
## **Epworth & District Agricultural Society Limited**
## **Directors' Report for the Year Ended 31 October 2020**
The directors present their report and the financial statements for the year ended 31 October 2020.
## **Directors of the company**
The directors who held office during the year were as follows:
Mr S Boor
Mr I Allport Mr D Poulter Mr P Goodall Mrs M Antcliff Mr P Naughton
## **Principal activity**
The principal activity of the company is to promote and advance agriculture and farming.
## **Small companies provision statement**
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on 26 July 2021 and signed on its behalf by:
......................................... Mrs Janice Banks Company secretary
Page 2
## **Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Epworth & District Agricultural Society Limited for the Year Ended 31 October 2020**
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Epworth & District Agricultural Society Limited for the year ended 31 October 2020 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/ .
This report is made solely to the Board of Directors of Epworth & District Agricultural Society Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Epworth & District Agricultural Society Limited and state those matters that we have agreed to state to the Board of Directors of Epworth & District Agricultural Society Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Epworth & District Agricultural Society Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Epworth & District Agricultural Society Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Epworth & District Agricultural Society Limited. You consider that Epworth & District Agricultural Society Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Epworth & District Agricultural Society Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Hepworth Griffiths Chartered Accountants 47/49 Grove Street Retford Nottinghamshire DN22 6LA 26 July 2021
Page 3
## **Epworth & District Agricultural Society Limited**
## **Profit and Loss Account for the Year Ended 31 October 2020**
|**Note**
Turnover
Cost of sales
Gross (loss)/profit
Administrative expenses
Other operating income
Operating profit
Other interest receivable and similar income
Profit before tax
Profit for the financial year|**Total**
**31 October**
**2020**
**£**
15,699
(18,520)
(2,821)
(2,259)
10,000
4,920
22
22
4,942
4,942|**Total**
**31 October**
**2019**
**£**
66,532
(59,966)|
|---|---|---|
|||6,566
(3,783)
-|
|||2,783|
|||30|
|||30|
|||2,813|
|||2,813|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
The notes on pages 8 to 10 form an integral part of these financial statements. Page 4
## **Epworth & District Agricultural Society Limited**
## **Statement of Comprehensive Income for the Year Ended 31 October 2020**
|**Note**
Profit for the year
Total comprehensive income for the year|**2020**
**£**
4,942
4,942|**2019**
**£**
2,813|
|---|---|---|
|||2,813|
The notes on pages 8 to 10 form an integral part of these financial statements. Page 5
## **Epworth & District Agricultural Society Limited**
## **(Registration number: 03221140) Balance Sheet as at 31 October 2020**
|**Note**
**Fixed assets**
Tangible assets
3
**Current assets**
Cash at bank and in hand
**Creditors**: Amounts falling due within one year
4
**Net current assets/(liabilities)**
**Net assets**
**Capital and reserves**
Other reserves
Profit and loss account
Total equity|**2020**
**£**
130,151
33,211
(26,830)
6,381
136,532
38,020
98,512
136,532|**2019**
**£**
132,242
25,638
(26,290)|
|---|---|---|
|||(652)|
|||131,590|
|||38,020
93,570|
|||131,590|
For the financial year ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the Board on 26 July 2021 and signed on its behalf by:
.........................................
Mr D Poulter
Director
The notes on pages 8 to 10 form an integral part of these financial statements. Page 6
## **Epworth & District Agricultural Society Limited**
## **Statement of Changes in Equity for the Year Ended 31 October 2020**
|At 1 November 2019
Profit for the year
Total comprehensive income
At 31 October 2020
At 1 November 2018
Profit for the year
Total comprehensive income
At 31 October 2019|**Other reserves**
**£**
38,020
-
-
38,020
**Other reserves**
**£**
38,020
-
-
38,020|**Profit and loss**
**account**
**£**
93,570
4,942
4,942
98,512
**Profit and loss**
**account**
**£**
90,757
2,813
2,813
93,570|**Total**
**£**
131,590|
|---|---|---|---|
||||4,942|
||||4,942|
||||136,532|
||||**Total**
**£**
128,777|
||||2,813|
||||2,813|
||||131,590|
The notes on pages 8 to 10 form an integral part of these financial statements. Page 7
## **Epworth & District Agricultural Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 October 2020**
## **1 General information**
The company is a private company limited by share capital incorporated in England.
The address of its registered office is: 38 High Street Belton Doncaster South Yorkshire DN9 1LR United Kingdom
These financial statements were authorised for issue by the Board on 26 July 2021.
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
## **Basis of preparation**
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
## **Revenue recognition**
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
## **Tangible assets**
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
## **Depreciation**
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Page 8
## **Epworth & District Agricultural Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 October 2020**
## **Asset class**
## **Depreciation method and rate**
Plant and machinery Variable rates
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **3 Tangible assets**
|**Cost or valuation**
At 1 November 2019
At 31 October 2020
**Depreciation**
At 1 November 2019
Charge for the year
At 31 October 2020
**Carrying amount**
At 31 October 2020
At 31 October 2019|**Land and**
**buildings**
**£**
110,955
110,955
-
-
-
110,955
110,955|**Other**
**property, plant**
**and equipment**
**£**
64,273
64,273
42,986
2,091
45,077
19,196
21,287|**Total**
**£**
175,228|
|---|---|---|---|
||||175,228|
||||42,986
2,091|
||||45,077|
||||130,151|
||||132,242|
Included within the net book value of land and buildings above is £110,955 (2019 - £110,955) in respect of freehold land and buildings.
Page 9
## **Epworth & District Agricultural Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 October 2020**
|**4**
**Creditors**||||
|---|---|---|---|
|||**2020**|**2019**|
||**Note**|**£**|**£**|
|**Due within one year**||||
|Trade creditors||26,830|26,290|
Page 10
## **Epworth & District Agricultural Society Limited**
## **Detailed Profit and Loss Account for the Year Ended 31 October 2020**
|Turnover (analysed below)
Cost of sales (analysed below)
Gross (loss)/profit
Gross profit (%)
**Administrative expenses**
General administrative expenses (analysed below)
Other expenses (analysed below)
Other operating income (analysed below)
Operating profit
Other interest receivable and similar income (analysed below)
Profit before tax|**2020**
**£**
15,699
(18,520)
(2,821)
(17.97)%
(2,259)
-
(2,259)
10,000
4,920
22
4,942|**2019**
**£**
66,532
(59,966)|
|---|---|---|
|||6,566|
|||9.87%
(4,083)
300|
|||(3,783)
-|
|||2,783
30|
|||2,813|
This page does not form part of the statutory financial statements. Page 11
## **Epworth & District Agricultural Society Limited**
## **Detailed Profit and Loss Account for the Year Ended 31 October 2020**
|**Turnover**
Sale of goods, UK
**Cost of sales**
Purchases
**General administrative expenses**
Sundry expenses
**Other operating income**
Government grants receivable
**Other interest receivable and similar income**
Bank interest receivable|**2020**
**£**
15,699
18,520
(2,259)
10,000
22|**2019**
**£**
66,532|
|---|---|---|
|||59,966|
|||(4,083)|
|||-|
|||30|
This page does not form part of the statutory financial statements. Page 12