Company registration number: 3588484 Charity registration number: 1070655
## Ashover Agricultural & Horticultural Society
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 December 2023
## **Ashover Agricultural & Horticultural Society**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 3|
|Statement of Trustees' Responsibilities|4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6 to 7|
|Balance Sheet|8|
|Notes to the Financial Statements|9 to 15|
## **Ashover Agricultural & Horticultural Society**
## **Reference and Administrative Details**
**Trustees** D Brailsford G Wardman J King **Secretary** J Twilley **Charity Registration Number** 1070655 **Company Registration Number** 3588484 **Registered Office** The Lodge 7 Rowthorne Lane Glapwell Chesterfield S44 5QF **Principal Office** The Lodge 7 Rowthorne Lane Glapwell Chesterfield S44 5QF **Solicitors:** Banner Jones Solicitors 2 Marsden Street Chesterfield S40 1JY
Page 1
## **Ashover Agricultural & Horticultural Society**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 December 2023.
## **Objectives and activities**
## _**Objectives, strategies and activities**_
In 2023 the Show had a successful day and welcomed visitors on a very pleasantly warm summers day. Post pandemic, it is very challenging running the show and this is set against the ever-increasing costs of our suppliers. However, we are very lucky to have the support of a loyal group of hard working and dedicated volunteers who bring the show together.
We now look forward to the 2024 show.
## _**Public benefit**_
Through holding an annual agricultural and horticultural show in Ashover.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Financial review**
## _**Policy on reserves**_
At the end of the period, there were cash reserves of £110,473. These are deemed to be necessary as cover in the event that an annual show may fail due to circumstances outside the control of the Society.
## **Structure, governance and management**
## _**Nature of governing document**_
The company was incorporated on 22 June 1998 and was subsequently registered with the Charities Commission. It is regulated by its Memorandum and Articles of Association.
## _**Recruitment and appointment of trustees**_
The Society has an Honorary Show Director who is appointed by the members in the Annual General Meeting and holds office for one year from such meeting.
The Honorary Show Director is an ex-officio member of the Council and all Committees formed by the Council.
There are two Honorary Directors also elected by the members in the Annual General Meeting and these hold office for one year from such meeting.
Page 2
## **Ashover Agricultural & Horticultural Society**
## **Trustees' Report**
## _**Organisational structure**_
The company's governing body is the Council which is elected annually. One third of the Council membership retire each year. No member of the Council is entitled to any remuneration. The Council members are assisted in running the company by a number of volunteers.
The annual report was approved by the trustees of the charity on 26 March 2024 and signed on its behalf by:
......................................... D Brailsford Trustee
Page 3
## **Ashover Agricultural & Horticultural Society**
## **Statement of Trustees' Responsibilities**
The trustees (who are also the directors of Ashover Agricultural & Horticultural Society for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 26 March 2024 and signed on its behalf by:
......................................... D Brailsford Trustee
Page 4
## **Ashover Agricultural & Horticultural Society**
## **Independent Examiner's Report to the trustees of Ashover 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 2023.
## **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 Ashover Agricultural & Horticultural Society 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.
...................................... David Lissimore ACMA CIMA
15 March 2024
Page 5
## **Ashover Agricultural & Horticultural Society**
## **Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
14
Investment income
13
Other income
Total income
**Expenditure on:**
Raising funds
Charitable activities
3
Total expenditure
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
11
**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
14
Investment income
13
Other income
Total income
**Expenditure on:**
Raising funds
Charitable activities
3
Total expenditure
Net income
Net movement in funds|**Unrestricted**
**funds**
**£**
17,636
132,147
2,680
248
152,711
(422)
(120,087)
(120,509)
32,202
32,202
525,267
557,469
**Unrestricted**
**funds**
**£**
18,837
144,328
2,680
45
165,890
(1,398)
(111,738)
(113,136)
52,754
52,754|**Total**
**2023**
**£**
17,636
132,147
2,680
248|
|---|---|---|
|||152,711|
|||(422)
(120,087)|
|||(120,509)|
|||32,202|
|||32,202
525,267|
|||557,469|
|||**Total**
**2022**
**£**
18,837
144,328
2,680
45|
|||165,890|
|||(1,398)
(111,738)|
|||(113,136)|
|||52,754|
|||52,754|
The notes on pages 9 to 15 form an integral part of these financial statements. Page 6
## **Ashover Agricultural & Horticultural Society**
## **Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
11|**Unrestricted**
**funds**
**£**
472,513
525,267|**Total**
**2022**
**£**
472,513|
|---|---|---|
|||525,267|
The notes on pages 9 to 15 form an integral part of these financial statements. Page 7
## **Ashover Agricultural & Horticultural Society**
## **(Registration number: 3588484) Balance Sheet as at 31 December 2023**
|**Note**
**Fixed assets**
Tangible assets
6
**Current assets**
Debtors
7
Cash at bank and in hand
8
**Creditors: Amounts falling due within one year**
9
**Net current assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one year**
10
**Net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
11|**2023**
**£**
462,442
22
110,473
110,495
(6,338)
104,157
566,599
(9,130)
557,469
557,469
557,469|**2022**
**£**
464,311
300
81,322|
|---|---|---|
|||81,622
(6,509)|
|||75,113|
|||539,424
(14,157)|
|||525,267|
|||525,267|
|||525,267|
For the financial year ending 31 December 2023 the charity 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 charity 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.
The financial statements on pages 6 to 15 were approved by the trustees, and authorised for issue on 26 March 2024 and signed on their behalf by:
.........................................
D Brailsford Trustee
The notes on pages 9 to 15 form an integral part of these financial statements. Page 8
## **Ashover Agricultural & Horticultural Society**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **1 Charity status**
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: The Lodge 7 Rowthorne Lane Glapwell Chesterfield S44 5QF
The principal place of business is: The Lodge 7 Rowthorne Lane Glapwell Chesterfield S44 5QF
These financial statements were authorised for issue by the trustees on 26 March 2024.
## **2 Income from donations and legacies**
|Regular giving and capital donations
Other income from donations and legacies
**Total for 2023**
**Total for 2022**|**Unrestricted**
**funds**
**Other**
**£**
17,596
40
17,636
18,837|**Total**
**funds**
**£**
17,596
40|
|---|---|---|
|||17,636|
|||18,837|
Page 9
## **Ashover Agricultural & Horticultural Society**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **3 Expenditure on charitable activities**
|Governance
Social Events
Support costs
Ashover Show
**4**
**Independent examiner's remuneration**
**Other fees to examiners**
Examination-related assurance services|**Unrestricted**
**funds**
**General**
**£**
1,415
795
17,290
100,587
120,087|**Total**
**2023**
**£**
1,415
795
17,290
100,587
120,087
**2023**
**£**
858|**Total**
**2022**
**£**
1,173
120
19,443
91,002|
|---|---|---|---|
||||111,738|
||||**2022**
**£**
810|
Page 10
## **Ashover Agricultural & Horticultural Society**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **5 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **6 Tangible fixed assets**
|**Cost**
At 1 January 2023
At 31 December 2023
**Depreciation**
At 1 January 2023
Charge for the year
At 31 December 2023
**Net book value**
At 31 December 2023
At 31 December 2022|**Land and**
**buildings**
**£**
448,898
448,898
10,723
826
11,549
437,349
438,175|**Furniture and**
**equipment**
**£**
28,973
28,973
22,252
1,042
23,294
5,679
6,721|**Other**
**tangible fixed**
**asset**
**£**
19,414
19,414
-
-
-
19,414
19,414|**Total**
**£**
497,285|
|---|---|---|---|---|
|||||497,285|
|||||32,975
1,868|
|||||34,843|
|||||462,442|
|||||464,310|
Included within the net book value of land and buildings above is £437,349 (2022 - £438,175) in respect of freehold land and buildings and £Nil (2022 - £Nil) in respect of leaseholds.
## **7 Debtors**
|Prepayments
**8**
**Cash and cash equivalents**
Cash at bank|**2023**
**£**
22
**2023**
**£**
110,473|**2022**
**£**
300|
|---|---|---|
|||**2022**
**£**
81,322|
Page 11
## **Ashover Agricultural & Horticultural Society**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **9 Creditors: amounts falling due within one year**
|Bank loans
Other creditors
Accruals
**10 Creditors: amounts falling due after one year**
Other loans
**11 Funds**
**Balance at 1**
**January 2023**
**£**
**Unrestricted funds**
Other
525,267
**Unrestricted funds**
**Balance at 1**
**January 2022**
**£**
**Unrestricted funds**
Other
472,513|**Incoming**
**resources**
**£**
152,711
**Incoming**
**resources**
**£**
165,890|**2023**
**£**
5,028
-
1,310
6,338
**2023**
**£**
9,130
**Resources**
**expended**
**£**
(120,509)
**Resources**
**expended**
**£**
(113,136)|**2022**
**£**
4,904
204
1,401|
|---|---|---|---|
||||6,509|
||||**2022**
**£**
14,157|
||||**Balance at 31**
**December**
**2023**
**£**
557,469|
||||**Balance at 31**
**December**
**2022**
**£**
525,267|
## **12 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.
Page 12
## **Ashover Agricultural & Horticultural Society**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **Statement of compliance**
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 in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
Ashover Agricultural & Horticultural Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Income and endowments**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
## _**Donations and legacies**_
Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Gift Aid recovered is included in the SOFA in the same period as the donation to which it relates.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 13
## **Ashover Agricultural & Horticultural Society**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **Governance costs**
Governance costs include costs of the preparation and examination of the statutory accounts, the cost of trustee meetings and the cost of any legal advice given to trustees on governance or constitutional matters.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £1.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
|**Asset class**|**Depreciation method and rate**|
|---|---|
|Tools and Equipment|15% reducing balance basis|
|Office Equipment|30% reducing balance basis|
|Buildings|2% straight line basis|
|The cost of land included in the balance sheet but not depreciated is £403,665.||
## **Stock**
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Page 14
## **Ashover Agricultural & Horticultural Society**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **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.
## **13 Investment income**
|Other income from fixed asset investments
**Total for 2023**
**Total for 2022**
**14 Income from charitable activities**
Social Events
Ashover Show|**Unrestricted**
**funds**
**General**
**£**
1,343
130,804
132,147|**Unrestricted**
**funds**
**Other**
**£**
2,680
2,680
2,680
**Total**
**2023**
**£**
1,343
130,804
132,147|**Total**
**funds**
**£**
2,680|
|---|---|---|---|
||||2,680|
||||2,680|
||||**Total**
**2022**
**£**
1,075
143,250|
||||144,325|
Page 15