| CONTENTS | PAGE | |
|---|---|---|
| Reference and administrative information |
||
| Trustees' annual report |
||
| Chief Executive's annual report |
||
| Auditors' report to the Trustees |
||
| Statement offinancial activities | ||
| (including Income and Expenditure |
account) | |
| Balance sheet | 13 | |
| Notes to the financial statements | 14 |
| YEAR ENDED 31 OCTOBE | R | 2022 | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | ||
| Funds | Funds | 2022 | 2021 | ||
| Note | E | F | 6 | ||
| INCOME | |||||
| Income from generated | |||||
| funds: | |||||
| Donations and legacies | |||||
| Subscriptions | 27,586 | 27,586 | 26,484 | ||
| Donations | |||||
| income from other | |||||
| trading activities | |||||
| Grazing and land letting, | |||||
| etc | 93,629 | 93,629 | 66,252 | ||
| Room hire | 3,167 | 3,167 | 1,038 | ||
| Investment income |
|||||
| Investment income |
48,837 | 48,837 | 44,449 | ||
| Interest receivable | 182 | 182 | 24 | ||
| income from charitable | |||||
| activities | 632,143 | 46,464 | 678,607 | 698,408 | |
| Other operating income | |||||
| Job Retention Scheme | |||||
| income | 1,694 | ||||
| TOTAL INCOMING | |||||
| RESOURCES | 805,544 | 46,464 | 852,008 | 838,349 | |
| EXPENDITURE | |||||
| Costs on raising funds | |||||
| Grazing and land letting, etc | 15,613 | 15,613 | 20,309 | ||
| Room hire | 41,811 | 41,811 | 28,211 | ||
| Investment manager fees |
12,746 | 12,746 | 13,013 | ||
| Charitable activities |
828,877 | 46,464 | 875,341 | 665,945 | |
| TOTAL EXPENDITURE | 4 | 899,047 | 46,464 | 945,511 | 727,478 |
| NET INCOME/EXPENDITURE |
|||||
| BEFORE INVESTMENTS | (93,503) | (93,503) | 110,871 |
| YEAR ENDED 31 OCTOBE | R 2022 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |
| Funds | Funds | 2022 | 2021 | |
| Note | 6 | |||
| NET INCOME /EXPENDITURE | ||||
| BEFORE INVESTMENTS | ||||
| CARRIED FORWARD | (93,503) | (93,503) | 110,871 | |
| Realised gains/(losses) | ||||
| on disposal offixed asset | ||||
| investments | (19,727) | (19,727) | 34,969 | |
| Unrealised (losses)/gains |
||||
| on revaluation of |
||||
| investments | (259,171) | (259,171) | 338,101 | |
| Unrealised gain on |
||||
| revaluation of investment |
||||
| property | 140,000 | 140,000 | ||
| NET MOVEMENT IN FUNDS |
||||
| RELATING TO THE YEAR | (232,401) | (232,401) | 483,941 | |
| Balances brought forward | 4,703,769 | 4,703,769 | 4,219,828 | |
| Balances carried forward | 4,471,368 | 4,471,368 | 4,703,769 |
| 31OCTOBER2 | 022 | |||||
|---|---|---|---|---|---|---|
| Note | 31"October | 31"October | ||||
| 2022 | 2021 | |||||
| 6 | F | |||||
| FIXEDASSETS | ||||||
| Tangible assets | 2,141,614 | 2,006,609 | ||||
| Intangible assets |
||||||
| Investments | 1,985,962 | 2,261,393 | ||||
| Investment Property |
343,618 | 343,618 | ||||
| 4,471,194 | 4,611,620 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 10 | 194,043 | 108,550 | |||
| Investments | 11 | 17,479 | 19,380 | |||
| Stock | 370 | |||||
| Cash at bank and | in hand | 257,181 | 457,376 | |||
| 468,703 | 585,676 | |||||
| CREDITORS: Amounts | falling due within one | |||||
| year | 12 | (370,523) | (351,165) | |||
| NET CURRENT ASSETS | 98,180 | 234,511 | ||||
| TOTAL ASSETS | LESSCURRENT LIABILITIES | 4,569,374 | 4,846,131 | |||
| CREDITORS: Amounts | falling due after more | |||||
| than one year | 13 | (98,006) | (142,362) | |||
| NET ASSETS | 4,471,368 | 4,703,769 | ||||
| FUNDS | ||||||
| Unrestricted: | ||||||
| Designated funds |
14 | 577,404 | 895,119 | |||
| Other charitable | funds | 3,893,964 | 3,808,650 | |||
| 4,471,368 | 4,703,769 |
| e useful e | conomic life of | that asset as foll | ows: |
|---|---|---|---|
| Freehold | Buildings | Over 5 - 50 | years |
| Plant and | Machinery | 20%Straight | Line |
| Fixtures and Fittings | 20%Straight | Line | |
| Motor Vehicles | 25%Straight | Line | |
| Roads | 20%Straight | Line | |
| Computer | Equipment | 33% - 50% Straight Line | |
| Website | 33.3%Straight Line |
| TOTAL EXPENDITURE | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |
| Funds | Funds | 2022 | 2021 | |
| 6 | 6 | |||
| Activities for generating | ||||
| funds | 70,170 | 70,170 | 61,533 | |
| Show expenses | 560,321 | 560,321 | 424,068 | |
| Room hire, courses etc | 2,315 | 2,315 | 5,083 | |
| Other charitable expenses | 243,363 | 46,464 | 289,827 | 219,038 |
| Governance | 22,878 | 22,878 | 17,756 | |
| 899,047 | 46,464 | 945,511 | 727,478 |
| Charitable | Charitable | Activities | Activities | Activities | |||
|---|---|---|---|---|---|---|---|
| Room | |||||||
| hire, | |||||||
| courses | Total | Total | |||||
| Show | etc | Other | 2022 | 2021 | |||
| E | 8 | 6 | |||||
| Salaries | 36,000 | 2,052 | 52,364 | 90,416 | 81,480 | ||
| Office costs | 17,876 | 75 | 10,241 | 28,192 | 24,405 | ||
| Subscriptions 8 | |||||||
| Donations | 2,013 | 2,013 | 1,703 | ||||
| Legal 8 professional | 1,187 | 1,187 | |||||
| Depreciation | 57,924 | 57,924 | 60,071 | ||||
| Rural links | 15,424 | 15,424 | 1,777 | ||||
| C Lambert Bursary | 175 | ||||||
| Audit & | |||||||
| accountancy fees | 10,100 | 10,100 | 5,875 | ||||
| Training | 491 | 491 | 907 | ||||
| Showground | |||||||
| Proposals | |||||||
| Bad debts written | |||||||
| Off | 247 | 247 | |||||
| Other expenses | 506,445 | 188 | 139,836 | 646,469 | 471,796 | ||
| 560,321 | 2,315 | 289,827 | 825,463 | 648,189 |
| The aver | age number ofs | taff em | ployed by the charity during the fi |
nancial year | amounted | |
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| No. | No. | |||||
| Number | ofadministrative | staff | 5 | 3 | ||
| Other staff | 1 | 1 | ||||
| Total | 6 | 4 | ||||
| 5. | NET INCOMING/(OUTGOING) | RESOURCES FOR THE YEAR | ||||
| This is stated after charging:- | ||||||
| 2022 | 2021 | |||||
| 6 | ||||||
| Depreciation | 57,924 | 60,071 | ||||
| Auditors' | remuneration | |||||
| -Audit | services | 10,100 | 5,750 |
| Freehold | Freehold | Plant 8 | Fixtures | Motor | ||
|---|---|---|---|---|---|---|
| Property | Equip't 8 Fittings | Vehicles | Total | |||
| 6 | 6 | 6 | 6 | |||
| COST | ||||||
| At 1 Nov 2021 | 2,786,168 | 272,317 | 36,761 | 16,228 | 3,111,474 | |
| Additions | 12,554 | 40,376 | 52,930 | |||
| Transfer from | ||||||
| Investment | ||||||
| Property | 140,000 | 140,000 | ||||
| Disposals | ||||||
| At 31 Oct 2021 | 2,938,722 | 312,693 | 36,761 | 16,228 | 3,304,404 | |
| DEPRECIATION | ||||||
| At 1 Nov 2021 | 806,904 | 247,401 | 34,333 | 16,228 | 1,104,866 | |
| Charge for the | ||||||
| year | 40,338 | 15,641 | 1,945 | 57,924 | ||
| Disposals | ||||||
| At 31Oct 2021 | 847,242 | 263,042 | 36,278 | 16,228 | 1,162,790 | |
| NET BOOK VALUE | ||||||
| At 31Oct 2022 | 2,091,480 | 49,651 | 483 | 2,141,614 | ||
| At 31 Oct 2021 | 1,979,264 | 24,916 | 2,428 | 2,006,608 |
| INTANGIBLE FIX | EDASSETS | |
|---|---|---|
| Website | Total | |
| 8 | 6 | |
| COST | ||
| At 1 Nov 2021 | 9,042 | 9,042 |
| Additions | ||
| Disposals | ||
| At 31Oct 2022 | 9,042 | 9,042 |
| DEPRECIATION | ||
| At 1 Nov 2021 | 9,042 | 9,042 |
| Charge for the | ||
| year | ||
| Disposals | ||
| At 31 Oct 2022 | 9,042 | 9,042 |
| NET BOOK VALUE | ||
| At 31Oct 2021 | ||
| At 31 Dct 2020 |
| VESTMENT P | ROPE | RTY | |
|---|---|---|---|
| Investment | |||
| Property | |||
| E | |||
| Cost orValuation | |||
| At 1 November | 2021 | 343,619 | |
| Revaluation in |
year | 140,000 | |
| Transfer to tangible | fixed assets | (140,000) | |
| At 31 October | 2022 | 343,619 |
| DEBTORS | |||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| 8 | |||||
| Trade debtors | 66,781 | 36,929 | |||
| VAT recoverable | 28,319 | 18,828 | |||
| Prepayments | 98,943 | 52,793 | |||
| 194,043 | 108,550 | ||||
| INVESTMENTS | |||||
| 2022 | 2021 | ||||
| Stockbroker | Dealing Account | 9,297 | 13,566 | ||
| Stockbroker | Dealing Account-Bursary | 865 | 1,424 | ||
| Stockbroker | Income Account | 539 | (508) | ||
| Stockbroker | Income Account-Bursary | 6,778 | 4,898 | ||
| 17,479 | 19,380 | ||||
| CREDITORS: Amounts | falling due within one year | ||||
| 2022 | 2021 | ||||
| E | |||||
| Bank loan | 17,440 | 17,440 | |||
| CBILS loan | 30,000 | 30,000 | |||
| Trade creditors | 131,375 | 78,297 | |||
| PAYE, social | security | and pension | 4,729 | ||
| Accruals and | deferred | income | 76,000 | 91,170 | |
| Funds held as custodian | 110,979 | 134,258 | |||
| 370,523 | 351,165 |
| Movement in r |
esources: | ||||||
|---|---|---|---|---|---|---|---|
| New | |||||||
| designationsl | |||||||
| Balance at | investment | Utilisedl | Investment | Balance at | |||
| 1 Nov 2021 | income | Released | Revaluation | 31 Oct 2022 | |||
| E | 8 | f | 8 | 8 | |||
| Chris Lambert | Bursary Fund | 68,403 | 2,765 | - | (114) | 70,694 | |
| Farm and Food Business | |||||||
| Development | and | ||||||
| Resource Centre | 12,805 | (516) | 12,289 | ||||
| Revaluation | Fund | 814,271 | (319,850) | 494,421 | |||
| 895,119 | 2,765 | (516) | (319,964) | 577,404 |
| ANALYSIS OF NETASSETS BETW | EEN FUNDS —CURR | ENT YEAR | ||
|---|---|---|---|---|
| General | Designated | Restricted | Total | |
| Funds f |
Funds f |
Funds f |
Fundsf | |
| Tangible fixed assets | 1,989,325 | 152,289 | 2,141,614 | |
| Investments | 1,560,847 | 425,115 | 1,985,962 | |
| Other net assets/(liabilities) | 343,792 | 343,792 | ||
| Net assets at 31 October 2022 | 3,893,964 | 577,404 | 4,471,368 | |
| ANALYSIS OF NET ASSETSBETWEEN FUNDS —PRIOR YEAR | ||||
| General | Designated | Total | ||
| Funds f |
Funds f |
Fundsf | ||
| Tangible fixed assets | 1,993,804 | 12,805 | 2,006,609 | |
| Investments | 1,379,079 | 882,314 | 2,261,393 | |
| Other net assets/(liabilities) | 435,767 | 435,767 | ||
| Net assets at 31 October 2021 | 3,808,650 | 895,119 | 4,703,769 |
| ped |
iod the following trus | tees were invo | iced b |
|---|---|---|---|
| 2022 f |
2021 f |
||
| Miss L Bennett | 237 | ||
| Mr | JC Mason | 25 | |
| Mr | D Martin | 25 | |
| Mr | I K Grisedale | 3,253 | 4,100 |
| Mr | M H Robinson | 25 | |
| Mr | N JSowerby | 13 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| 8 | E | ||||||
| Financial | assets | ||||||
| Financial | assets measured | at fair value | through | profit and | |||
| loss | 2,260,622 | 2,738,149 | |||||
| Financial | assets measured | at amortised | cost | 194,043 | 108,920 | ||
| Financial | liabilities | ||||||
| Financial | liabilities | measured | at amortised cost | (318,354) | (303,725) | ||
| 1,958,083 | 2,082,394 |
| 2022 | 2021 | ||
|---|---|---|---|
| 6 | 8 | ||
| Not later than 1 year | 2,701 | 2,701 | |
| Later than | 1 year and not later than 5years | 10,803 | 10,803 |
| Later than | 5years | 13,431 | 16,132 |
| 26,935 | 29,636 |