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2022-11-30-accounts

THE DORCHESTER AGRICULTURAL SOCIETY

REPORT AND ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

Charity no: 1066401

Company no: 3473496

Chartered Accountants

THE DORCHESTER AGRICULTURAL SOCIETY

CONTENTS

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Page
Legal and administrative information 1
Report of the Board of Management 2 - 5
Independent Examiner's report 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the accounts 10 - 17
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THE DORCHESTER AGRICULTURAL SOCIETY

LEGAL AND ADMINISTRATIVE INFORMATION

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Charity name The Dorchester Agricultural Society
(organisers of The Dorset County Show)
Charity number 1066401
Company registration number 3473496
Show office Agriculture House
Acland Road
Dorchester
Dorset DT1 1EF
telephone 01305 264249
e-mail info@dorsetcountyshow.co.uk
website www.dorsetcountyshow.co.uk
Officers
President The Lord and Lady Fellowes of West Stafford
Deputy President Mr Peter Clark
Chairman Mrs Nicola Ralph
Vice Chairman Mr Jason Bowerman
Treasurer Mr John Hoskin
Company Secretary Mrs Lisa Cartwright
 not trustee/director
Trustees/directors Mr Jason Bowerman
Mr Wakely Cox (resigned 1 January 2023)
Mr John Hoskin
Mr Neil Martin
Mr Simon Mills
Mrs Nicola Ralph
Mr Benjamin Best
Mr Paul Dunlop
Miss Hannah Martin (appointed 13 August 2022)
Advisors
Independent examiner Ian Carrington M.A.(Oxon) F.C.A.
Edwards & Keeping, Chartered Accountants, Dorchester
Accountants Edwards and Keeping, Chartered Accountants, Dorchester
Bankers Svenska Handelsbanken AB (publ), Dorchester
Investment advisors Charles Stanley
Solicitors Porter Dodson, Dorchester
Trophy valuers H Y Duke and Sons
Land agents Symonds and Sampson, Dorchester
Veterinary surgeons Dorset Equine Vets
Synergy Farm Health
Medical officer Dr Paul Andrews
Farrier Mr Paul Thomas
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THE DORCHESTER AGRICULTURAL SOCIETY

REPORT OF THE BOARD OF MANAGEMENT FOR THE YEAR ENDED 30 NOVEMBER 2022

The Board of Management present their report and accounts for the year to 30 November 2022 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The accounts comply with the Charities Act 2011, the Companies Act 2006, the charitable company's memorandum and articles and 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) published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016).

Objectives and activities for the public benefit

The Society's objects and principal activities are the promotion of agriculture in all its branches in particular by holding Shows, and the support of such charitable institution or charitable purpose as the trustees shall determine.

The Society has applied its funds for the year in the furtherance of its objectives in educating the public by holding the annual County Show on 3 and 4 September 2022. Income and expenditure for the year are set out in note 3 to the accounts.

In 2015 a new restricted Education Fund was set up to commemorate the Society's 175th anniversary. This will initially provide finance for transport costs to enable school children to visit suitable farms, horticultural business and rural enterprises. The positive benefits of children visiting farms, food production facilities, nurseries and rural enterprises is immeasurable and contributes greatly to a better understanding of where their food comes from. The Society made charitable donations from the restricted 1840 Education Fund of £4,429 in 2022 (2021 - £210); this Fund has now been rebranded as The Fabulous Food and Farming Fund.

The Society is highly dependent on the voluntary work carried out by stewards and members of the various committees, but no estimate of monetary value has been placed on this work in the accounts.

Strategies for Achieving Objectives:

The Annual Dorset County Show as a showcase for best practice in Agriculture, Horticulture, Rural Trade and Industry. Develop plans to increase the awareness and number of applicants of the Dorchester Agricultural Society Fabulous Food and Farming Fund aimed at educating children on the topics of Agriculture, Horticulture, Rural Trade and Industry. Maintain the profile of Dorset County Show throughout the year, building relationships locally and encouraging joint working initiatives. Building on the profile of the Dorchester Agricultural Society as a whole. The Society Trustees and Show Council work to in line with the Strategy agreed by the Society.

Public Benefit:

The Society Trustees confirm that they have referred to the guidance of the Charity Commission on Public Benefit whilst reviewing the charitable aims, objectives and plans for the future.

Achievements and performance

The 2022 Dorset County Show was held on 3rd & 4th September 2022, a welcome return to near normality after the unfortunate cancellation of the 2020 and 2021 Dorset County Show due to the worldwide Coronavirus (COVID-19) Pandemic.

The summer of 2022 had experienced long spells of high temperatures and exceptionally low levels of rainfall. This good weather attracted large crowds to the Show, most of whom were keen to experience the Dorset County Show in its traditional format.

A number of special measures were adopted to ensure the safety and wellbeing of all our stakeholders not only due to the weather experienced over the summer as well as the remnants of the pandemic; some delays at the main gate were experienced, however high spirits were maintained by all!

Fabulous Food and Farming Area goes from strength to strength, with support from a dedicated committee, this area of the Show provides an amazing venue for our visitors, both young and old who are all keen to learn how farming and agriculture link to nutrition, health, and wellbeing. The area included a Showground wide Trail where children were encouraged to find the Farming Facts placed around the Showground and then asked to answer questions surrounding those facts.

Livestock and Equine Sections saw an excellent display of exhibitors, showcasing the best of the best in their class. This was also the case for our other competitions including Shearing, Homecraft, Horticulture, Black Smiths, and Vintage Tractors. Although entries had not returned to pre-pandemic levels, an excellent level of competition was provided for exhibitors thus providing a great spectacle for our visitors.

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THE DORCHESTER AGRICULTURAL SOCIETY

REPORT OF THE BOARD OF MANAGEMENT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

Trade stands experienced the most changes since the 2019 Show. Traders in 2022 provided a good variety of stands for the public to experience, both returning traders and new traders coming to Dorset County Show for the first time. Dorset County Show continues to provide a great platform for new traders, across all industries, to trade over the weekend and gauge the public interest in their goods.

Agricultural Trade and associated industries returned in good numbers in 2022, some even taking larger pitches than those booked in 2019, this cementing the support for the County Show as well as confirming that the Show is a great opportunity to meet customers, old and new. Good levels of trade were reported over the weekend as well as subsequently.

The Society were delighted that Lord and Lady Fellowes of West Stafford, as joint Presidents of the Society attended the Show on both days, visiting every section of the event and reinforcing their strong relationships with the local community.

Throughout the year, Fabulous Food and Farming Fund continued to support local schools to visit local farms to experience and learn about agriculture as well as supporting schools with infrastructure projects to enhance and advance their learning whilst at school.

April 2022 Dorset County Spring Show returned, held for the first time at the Jubilee Hall, Poundbury, by kind permission of the Duchy of Cornwall. This Show saw record entries and welcomed more visitors than ever to this particular event. Exhibitors travelled from across the South of England to attend the Dorset County Spring Show which showcased Horticulture and Homecraft exhibits.

July 2022 Dorset County Tractor Run was well supported in the local community; offering an event for enthusiasts to meet and socialise as well as for the public to learn more about tractors, from vintage machines through to modern day examples. This being a critical part of our objectives. The route through the Dorset countryside was enjoyed by all those in attendance and the spectacle of the vehicles passing through villages en-route was enjoyed by all.

October 2022 saw a change of officers in the role of Show Secretary. The exiting Secretary had been with the Society since 2017 and had made many positive changes to the Show and navigated through the pandemic, delivering nine successful events in 2021. The Society appointed a new permanent Show Secretary who plans to continue to improve and expand the Show in the years ahead; the Board of Trustees thanked the outgoing Show Secretary for all his hard work and are delighted with the appointment of the new Show Secretary and look forward to the years ahead.

Financial review

The overall deficit was £144,114 (2021 - £3,769).

Total income was £606,966 (2021 - £97,291) and expenditure was £711,726 (2021 - £141,864). There was an unrealised loss of £26,492 (2021 - gain of £33,247) on the revaluation of investments.

Total funds held amount to £610,635 which exceeds the targets set by the Board in its reserve policy.

Investment policy

The Board, in conjunction with the investment managers, has considered the most appropriate policy for investing funds on the Society's behalf, with a view to providing a regular income from investments whilst taking capital profits from time to time.

The investment portfolio is diversified in various sectors, holding investments in cash, fixed interest securities and equities.

Reserves policy

Following the assessment of risks faced by the Society, the Board has established a reserves policy to maintain free reserves at a level that equates to between six months and twelve months gross expenditure. This provides sufficient funds both to cover working capital requirements and also to cover salaries, administration and support costs in the event of the Show being cancelled.

Free reserves are those unrestricted funds not otherwise designated or committed to tangible fixed assets and amounted to £552,969 at 30 November 2022 (£694,568 in 2021). Gross expenditure for the year amounted to £711,726, so free reserves fall within the target level.

Restricted funds totalled £50,016 and total funds £610,635 at 30 November 2022. The trustees therefore consider that there are sufficient funds to enable the Society to continue to operate for the foreseeable future.

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THE DORCHESTER AGRICULTURAL SOCIETY

REPORT OF THE BOARD OF MANAGEMENT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

Future plans

The Society continues to work on growing several annual events and increasing donations and awareness of the newly branded Fabulous Food and Farming Fund (formerly the 1840 Education Fund).

The Society aims to continually improve on its objective of promoting agriculture in all its branches in particular by holding Shows and the support of such charitable institution or charitable purpose as the trustees shall determine by promoting and encouraging more grant applications from educational establishments under the auspices of the Fabulous Food and Farming Fund and encouraging visitors to all of the annual events.

Strategies for Achieving Objectives

-The Annual Dorset County Show as a showcase for best practice in Agriculture, Horticulture, Rural Trade and Industry.

-To hold events to support other local charities as well as boosting the Fabulous Food and Farming Fund.

Structure, governance and management

Governing document

The society was founded in 1840 and is established as a company limited by guarantee (incorporated 28 November 1997) and registered as a charity with the Charity Commission (registered 28 November 1997). The affairs of the Society are governed by its articles of association (adopted 24 April 2019). The liability of the members in the event of the Society being wound up is limited to a sum not exceeding £1.

Recruitment and appointment of trustees

The charity trustees are also directors for the purposes of company law and under the company's articles are collectively known as the Board of Management. Members of the Board of Management are elected by the members of the Society at the Annual General Meeting; The Board members retire at the end of their term.

Trustee induction and training

The Dorchester Agricultural Society encompasses a broad mix of individuals with diverse skills and experience to ensure that all strands of Membership and Stakeholders are represented.

Induction and training

All Trustees are familiar with the work of the Dorchester Agricultural Society. Trustees are given induction training,

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THE DORCHESTER AGRICULTURAL SOCIETY

REPORT OF THE BOARD OF MANAGEMENT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

Organisational structure

A Board of Trustees manage the Society, meeting on a monthly basis with support from the Show Secretary and Company Secretary. The effectiveness and frequency of these meetings are regularly reviewed.

Conflict of Interests register is maintained and declarations are made at each full Board Meeting.

The Board of Management is made up by the President and Vice President (not trustees), the Chairman, Vice-Chair, Treasurer and six additional Trustees.

Trustees are sought by the Society on a skills basis to ensure wherever possible there is a broad depth of knowledge.

The Dorchester Agricultural Society Show Council is made up of the Society Chairman, Vice-Chair, Treasurers, Secretaries and capacity for 30 members (currently 21 members) all of whom are members of the Society subcommittees. This is an annual term of office and re-election takes place in September each year.

The Dorchester Agricultural Society Show Council are tasked with the organisation of the Dorset County Show, Dorchester Agricultural Society Ploughing Match and The Spring Show; the Council meet on a regular basis as a group and as separate committee sections.

The 2022 AGM was held at the Wessex Royale Hotel in Dorchester. The first in-person AGM since 2019.

Board performance, financial management, society structure and effectiveness are regularly considered by the Board of Management.

ASAO – Membership of the Association of Show and Agricultural Organisations has provided up to date information on legislation and changes due to the Pandemic. ASAO are members of the Events Industry Forum who are liaising directly with the Department for Media, Culture and Sport.

The Purple Guide has been written by The Events Industry Forum in consultation with the events industry. Its aim is to help those event organisers who are duty holders to manage health and safety, particularly at large-scale events.

Sub-committees of the Board of Management

The following sub-committees of the Board of Management are:

Risk management

The Board has examined the major strategic, business and operational risks which the Society faces and confirms that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

This report has been prepared taking advantage of the small companies’ exemption of section 415A of the Companies Act 2006.

Approved by the Board on 21 April 2023

and signed on its behalf by Mrs N A Ralph

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THE DORCHESTER AGRICULTURAL SOCIETY

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DORCHESTER AGRICULTURAL SOCIETY

I report to the charity trustees on my examination of the accounts of the company for the year ended 30 November 2022 which are set out on pages 7 to 17.

Responsibilities and basis of report

As the charity 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 company’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 that in any material respect:

  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

  2. 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

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.

21 April 2023

Ian Carrington M.A.(Oxon) F.C.A. ICAEW

Edwards & Keeping Chartered Accountants Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

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THE DORCHESTER AGRICULTURAL SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 NOVEMBER 2022

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Unrestricted Restricted Total funds Total funds
funds funds 2022 2021
Notes £ £ £ £
Income
Subscriptions and donations 2 30,608 - 30,608 22,183
Charitable activities
Show income 3 556,805 - 556,805 46,141
Charity income 3 861 10,983 11,844 544
Investments 4 7,709 - 7,709 6,063
Dorset Council grant - - - 15,043
Job retention scheme - - - 7,317
Total income 595,983 10,983 606,966 97,291
Expenditure
Raising funds
Investment management fees 4,676 - 4,676 4,111
Charitable activites
Show expenditure 3 621,825 10,960 632,785 88,387
Grants payable 5 4,429 4,429 210
Support costs 6 69,836 - 69,836 49,156
Total expenditure 696,337 15,389 711,726 141,864
Net expenditure for the year before
investment gains and losses (100,354) (4,406) (104,760) (44,573)
Realised (losses)/gains on disposal of
investments 11 (12,862) - (12,862) 7,557
Unrealised (losses)/gain on revaluation of
investments 11 (26,492) - (26,492) 33,247
Net expenditure for the year 7 (139,708) (4,406) (144,114) (3,769)
Reconciliation of funds
Funds brought forward 700,327 54,422 754,749 758,518
Funds carried forward 14 560,619 50,016 610,635 754,749
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Company no: 3473496

THE DORCHESTER AGRICULTURAL SOCIETY

BALANCE SHEET AS AT 30 NOVEMBER 2022

Notes
£
Fixed assets
Tangible assets
10
Investments
11
Current assets
Debtors
12
5,626
Cash at bank and in hand
303,981
309,607
Liabilities
Creditors: amounts falling
due within one year
13
(35,537)
Net current assets
Net assets
Funds
Unrestricted income funds - general funds
Restricted income funds - Fabulous Food and Farming Fund
14		 2022
£
7,650
328,915
336,565
274,070
610,635
560,619
50,016
610,635		 £
26,507
365,680
392,187
(16,104)		 2021
£
5,759
372,907
378,666
376,083
754,749
700,327
54,422
754,749

For the year ended 30 November 2022, 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.

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 provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved and authorised for issue by the Board on 21 April 2023

and signed on its behalf by Mrs N A Ralph

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THE DORCHESTER AGRICULTURAL SOCIETY

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 NOVEMBER 2022

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2022 2021
Notes £ £
Cash flow from operating activities 16 (66,947) (60,273)
Interest paid (33) (160)
Net cash flow from operating activities (66,980) (60,433)
Cash flow from investing activities
Payments to acquire tangible fixed assets (7,066) -
Payments to acquire investments (97,782) (103,869)
Receipts from sales of investments 109,046 108,889
Dividends received 6,820 5,879
Interest received 889 184
Net cash flow from investing activities 11,907 11,083
Net decrease in cash and cash equivalents (55,073) (49,350)
Cash and cash equivalents at 1 December 2021 379,111 428,461
Cash and cash equivalents at 30 November 2022 324,038 379,111
Cash and cash equivalents consists of:
Cash at bank and in hand 303,981 365,680
Cash held by brokers 20,057 13,431
Cash and cash equivalents at 30 November 2022 324,038 379,111
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THE DORCHESTER AGRICULTURAL SOCIETY

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2022

1 Accounting policies

(a) Basis of preparation

The Dorchester Agricultural Society is a private charitable company limited by guarantee and incorporated in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these accounts.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The accounts have been prepared on a going concern basis under the historical cost convention, with the exception of investments which are included at fair value. The accounts are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these accounts are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was needed. No restatements were required.

(b) Income

All income is included in the statement of financial activities when the Society has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount receivable can be measured reliably. No expenditure is netted off income. The following specific policies are applied to particular categories of income:

Subscriptions and donations includes members subscriptions, donations and royalties accounted for when receivable. Donations made in kind are included at the value of the materials or equipment supplied. The Society is highly dependent on the voluntary work carried out by stewards and members of the various committees, but no estimate of monetary value has been placed on this work in the accounts.

Investment income includes any related tax recoverable.

Income from charitable activities represent Show income including sponsorship accounted for when receivable.

(c) Expenditure

Expenditure is recognised on an accruals basis as soon as there is a legal or constructive obligation committing the Society to the expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure includes any VAT which cannot be fully recovered.

Costs of raising funds comprise investment management costs.

Charitable expenditure comprises those costs incurred by the Society in the delivery of its charitable activities and services. Direct costs specific to the Show and grants payable are allocated to charitable activities, together with indirect costs required to support the charitable activities. It is estimated that 75% of Secretary and Secretariat salaries relate directly to the Show, whilst the balance is allocated to support costs.

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THE DORCHESTER AGRICULTURAL SOCIETY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

(d) Leases

Rental costs under operating leases are charged to the statement of financial activities in equal amounts over the period of the lease.

(e) Taxation

As a registered charity, the Society benefits from rates relief and is generally exempt from income tax and capital gains tax, but not from VAT. The Society is VAT registered, and any irrecoverable VAT is included in the cost of those items to which it relates.

(f) Tangible fixed assets

Tangible fixed assets in excess of £250 and for continuing use by the Society are initially recorded at cost, or in the case of donated assets, at a valuation. Depreciation of fixed assets is provided at the following annual rates in order to write off the cost or valuation less any residual value of each asset over its estimated useful life:

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||| |---|---| |Showground construction|10% on cost| |Trophies and equipment|20% on cost| |Website development|33% on cost| |Computer equipment|25% on cost| |Office furniture and equipment|20% on cost|

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Asset values are reviewed annually and any impairment identified written off to the statement of financial activities.

(g) Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in the statement of financial activities if the shares are publicly traded or their fair value can otherwise be measured reliably.

(h) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

(i) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

(j) Pensions

From 1 April 2017 the Society has operated a defined contribution plan for the benefit of its employees through the National Employment Savings Trust auto-enrolment scheme. Contributions are expensed as they become payable.

(k) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Board of Management in furtherance of the general objectives of the Society and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Society for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts.

- 11 -

THE DORCHESTER AGRICULTURAL SOCIETY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

2
Subscriptions and donations
Members' subscriptions
Fabulous Food and Farming Fund donations
General donations		 2022
2021
£
£
28,694
20,590
-
65
1,914
1,528
30,608
22,183
3
Show income and expenditure
2022
2022
2022
£
£
£
Show income
Charity
Fabulous
Show
Night
Food
Gate admissions and car parking
316,470
Show sponsorship and donations
37,505
Tradestands
154,433
Catering concessions
12,673
Entry fees
26,889
Caravan income
2,925
Events income - catering, bar etc.
-
Rental income
1,600
Members bar income
4,310
Income from subscriptions and donations was £30,608 (2021 - £22,183) of which £30,608
attributable to unrestricted and £nil (2021 - £65) was attributable to restricted funds.		 2022
2021
£
£
Total
316,470
10,416
37,505
6,380
154,433
18,400
12,673
-
26,889
8,521
2,925
-
-
2,424
1,600
-
4,310
-
(2021 - £22,118) was
Charity Fundraising
Other charity income		 556,805
10,983
861		 556,805
46,141
11,844
544
10,983
-
557,666		 568,649
46,684
Show direct expenditure
Salaries - Secretary/Temporary Secretary (75%)
Salaries - Secretariat (75%)
Employer's national insurance (75%)
Employer's pension costs (75%)
Showground rent and rates
Showground utilities
Showground and equipment maintenance and repairs
Insurance
Hire of Show equipment
Attractions
Judges, stewards and catering
Labour, contractors and service providers
Prize money
Rosettes and prize cards
Marketing and PR
Printing and stationery
Postage
Subscriptions and royalties
Sundry Show costs
Members bar costs
Depreciation of Show fixed assets
Charity Night
Charitable donations
Charity Night costs		 28,071
18,854
-
402
30,159
7,032
1,722
8,202
261,895
13,930
23,949
158,302
32,129
2,703
20,904
1,677
3,936
1,999
1,375
-
4,584
8,960
-
2,000
-		 28,071
23,577
18,854
6,846
-
-
402
567
30,159
10,451
7,032
489
1,722
2,187
8,202
3,770
261,895
6,761
13,930
425
23,949
1,853
158,302
6,594
32,129
7,129
2,703
4,499
20,904
581
1,677
1,685
3,936
3,970
1,999
568
1,375
2,444
-
-
4,584
3,991
8,960
-
2,000
-
10,960
-
621,825		 632,785
88,387
Net Show direct surplus/(deficit) 23
-
(64,159)		 (64,136)
(41,703)

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THE DORCHESTER AGRICULTURAL SOCIETY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

4
Investment income
Dividends and interest on UK listed investments
Interest on UK cash deposits
5
Grants payable
Fabulous Food and Farming Fund
Weymouth College
Spetisbury School
Milborne St Andrew
St Mary's Puddletown
Puddletown First
Broadmayne First
Charminster First
Winterbourne Valley
Cerne Abbas
Damers
Witchampton
St Nicholas Primary School
All investment income in both years is attributable to unrestricted income funds.		 2022
£
6,820
889
7,709
2022
£
-
360
550
440
770
550
660
110
220
300
274
195
4,429		 2021
£
5,879
184
6,063
2021
£
210
-
-
-
-
-
-
-
-
-
-
-
210

Expenditure on grants was £4,429 (2021 - £210) of which £4,429 (2021 - £210) was attributable to the restricted Fabulous food and farming fund and £nil (2021 - £nil) to the restricted charity night fund, the remainder from unrestricted funds.

A further £nil (2021: £nil) worth of trade stand spaces were given free of charge this year.

6
Support costs
Salaries - Secretary/Temporary Secretary (25%)
Salaries - Secretariat (25%)
Employer's pension costs (25%)
Office rent and rates
Telephone
Computer and website costs
Hire of office equipment
Legal and professional fees
Bank charges and card processing fees
Interest payable
Sundry expenses
Depreciation of office furniture and equipment
Independent examination
Accountancy
Trustees' insurance		 2022
£
9,357
6,285
134
6,921
1,719
17,201
1,118
13,784
7,367
33
491
591
650
3,200
985
69,836		 2021
£
7,859
2,282
189
7,386
1,930
13,004
1,118
8,701
2,135
160
288
393
500
2,440
771
49,156

Expenditure on support costs was £69,836 (2021 - £49,156) of which £69,836 (2021 - £49,156) was attributable to unrestricted and £nil (2021 - £nil) was attributable to restricted funds.

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THE DORCHESTER AGRICULTURAL SOCIETY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

7
Net income for the year
Net income for the year is stated after charging:
Accountants' fees
Independent examination
Edwards and Keeping - accountancy
- other services
Depreciation
8
Staff costs
Gross salaries (Secretary/Temporary Secretary and Secretariat)
Employer's national insurance
Employer's pension costs - defined contribution plan		 2022
£
650
3,160
40
5,175
2022
£
62,566
-
536
63,102		 2021
£
500
2,400
40
4,384
2021
£
40,564
-
756
41,320

The average number of employees during the year was 2 (2021 - 1). No employee received remuneration amounting to more than £60,000 in either year. Pension costs are allocated to unrestricted fund charitable expenditure on the same basis as salaries.

9 Trustees and related parties

No Board members received remuneration or were reimbursed for expenses in the current or preceding year. Board members are covered by indemnity insurance, the cost of which, £985 (2021 - £771), is included in support costs.

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THE DORCHESTER AGRICULTURAL SOCIETY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

10
Tangible fixed assets
Showground
construction &
improvements
£
Cost
At 1 December 2021
177,535
Additions
6,267
183,802
Depreciation
At 1 December 2021
176,778
Charge for the year
874
At 30 November 2022
177,652
Net book value
At 30 November 2022
6,150
At 30 November 2021
757
At 30 November 2022		 Trophies
&
Website
equipment
development
£
£
90,434
3,254
-
-
90,434
3,254
86,118
3,253
3,710
-
89,828
3,253
606
1
4,316
1		 Computer
equipment
£
26,118
799
26,917
25,921
387
26,308
609
197		 Office
furniture &
equipment
£
11,615
-
11,615
11,127
204
11,331
284
488		 Total
£
308,955
7,066
316,021
303,197
5,175
308,372
7,650
5,759
11
Investments
UK listed investments
Fair (market) value at 1 December 2021
Acquisitions at cost
Disposal proceeds
Realised gain on disposal of investments
Unrealised gain on revaluation
Fair (market) value at 30 November 2022
Cash deposits held by brokers at 30 November 2022
12
Debtors
Prepayments and accrued income
Other debtors
VAT		 2022
£
359,476
97,782
(109,046)
(12,862)
(26,492)
308,858
20,057
328,915
2022
£
3,485
1,471
670
5,626		 2021
£
323,692
103,869
(108,889)
7,557
33,247
359,476
13,431
372,907
2021
£
16,479
7,408
2,620
26,507

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THE DORCHESTER AGRICULTURAL SOCIETY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

13
Creditors: amounts falling due within one year
Accruals and receipts in advance
Other taxes and social security costs
Other creditors
14
Funds
Unrestricted
Restricted
General
Fabulous
Funds
Food &
Farming Fund
£
£
At 1 December 2021
700,327
54,422
Income for the year
595,983
-
Expenditure for the year
(696,337)
(4,429)
Net losses on investment assets
(39,354)
-
At 30 November 2022
560,619
49,993
Represented by:
Tangible fixed assets
7,650
-
Fixed asset investments
328,915
-
Net current assets
224,054
49,993
560,619
49,993		 2022
£
13,810
1,001
20,726
35,537
Restricted
Charity
Night Fund
£
10,983
(10,960)
23
-
-
23
23		 2021
£
4,500
2,165
9,439
16,104
Total
funds
£
754,749
606,966
(711,726)
(39,354)
610,635
7,650
328,915
274,070
610,635

The Society's funds primarily comprise unrestricted funds which are expendable at the discretion of the trustees in furtherance of the objects of the Society.

During 2015 a restricted 1840 appeal fund was set up to celebrate the Society's 175th anniversary. Funds raised are to be used for educational purposes. This is now called the Fabulous Food and Farming Fund.

The Board considers that there are sufficient funds to enable the Society to continue to operate for the foreseeable future.

15 Operating leases - lessee

Total future minimum lease payments under non-cancellable operating leases are as follows:

Not later than one year
Later than one and not later than five years		 2022
£
5,546
1,557
7,103		 2021
£
5,546
7,103
12,649

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THE DORCHESTER AGRICULTURAL SOCIETY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

----- Start of picture text -----
16 Reconciliation of net income to net cash flow from operating activities 2022 2021
£ £
Net expenditure for the year (144,114) (3,769)
Dividends received (6,820) (5,879)
Interest receivable (889) (184)
Interest payable 33 160
Depreciation of tangible fixed assets 5,175 4,384
Losses/(gains) on investments 39,354 (40,804)
Decrease/(increase) in debtors 20,881 (1,429)
Increase/(decrease) in creditors 19,433 (12,752)
Net cash flow from operating activities (66,947) (60,273)
----- End of picture text -----

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