## ## ## ## ## ## ## |Governance|Governance||| |---|---|---|---| |The directors and trustees are appointed
by the Executive Commifiee
with ratification||at the following|| |Annual
General Meeting. Every year, one third ofths directors
must resign and stand for rs-election.|||| |The society is administered
on a day to day basis by the secretary,
with decisions being taken by|||| |the Executive Commifiee or Trustees
during
regular routine meetings.
Ifrequired,
Ad Hoc meetings|||| |are convened. The Executive Committee
reports to a General Commifiee
to keep that||body informed|| |ofprogress|in the development
ofthe show.||| |The society was incorporated
as a company
limited
by guarantee
on 26June 1998and is|||| |registered|with the charity commission
(no. 1071618).The charity took over assets of|the former|| |charity North Devon Agricultural
Society (no. 1043968)which ceased on 2 November||1998.|| |The charity|is governed
by its Memorandum
and Articles ofAssociation
adopted on 26June 1998.||| |Ob'acts
Or aniaation
andActivities|||| |Charitable|objects||| |The advancement
of agriculture
and horticulture
for ths benefit of the pubkc in North Devon and|||| |surrounding|areas and to support or assist such other charitabl
institutions
or purposes as the||| |company
shall from time to time determine.|||| |The trustees have complied
with the duty in ths 2011Charitiss
Act to have the due regard|||| |to guidance|published
by the Charity Commission.||| |Powers|||| |In furtherance
ofthe objects but not otherwise,
the society may exercise the following||powers:|| ||To hold an annual
show or shows;||| |2)|To raise funds and to invite and receive contributions
provided
that the society shall not||| ||undertake
any permanent
trading
activities
in raising funds for its charitable|object and|| ||shall conform to any requirements
of law.||| |3)|To buy, take on lease or in exchange any property necessary
for the achievement
ofthe||| ||objects and to maintain
and equip
it for use.||| |4)|Subject to any consents required
by law to sell, lease or dispose ofany part ofthe property||| ||ofths somety.||| |5)|Subject to any consents required
by law to borrow money and to charge afi|or any perl|of| ||the property of the society with the repayment
ofthe money so borrowed.||| |6)|To buy the services ofsuch individuals
(who shall not be Directors) as are|necessary for|| ||the property
pursuits ofths oblects.||| |7)|To co-operate with other charities, voluntary
bodies and statutory
authorities|operating|in| ||furtherance
ofthe objects or ofsimilar charitable
purposes
and to exchange|information|| ||and advice with them.||| |8)|To establish
or suppoh any charitable
trusts, associations
or institutions
formed for afi or||| ||any ofthe objects.||| |9)|To appoint
and constitute
such advisory commifises as the Executive Committee
may think||| ||fit.||| |10)|To do afi such lawful things as are necessary
for the achievement
of the above objects.||| ||1||| |Vo untee||| |---|---|---| |All committee
members
snd show stewards ars volunteers
and without their valuable|support and work|| |it is unlikely that the show would be abls to take place in its cunent form.||| |Investment
P
I||| |The society does not have a specific investment
policy. The commifise have delegated|powers to the|| |secretary to move monies bshveen
the bank acoounts as required
in order to obtain the||| |best rate ofreturn.||| |Finances||| |The aaached finandal
statements
show the current state ofthe finances which the Trustees consider||| |to be sound. There was a surplus ofgeneral funds offif 7,241 for the year and general|funds cerned|| |forward of2140,401||| |The Trustees
Intend to continue
holding the annual
show in furtherance
ofthe key objectives ofthe||| |socieiy, which isto provide a good family one day show.||| |i kfifiana
ament Polio||| |The committee
meet reguiarily to to monitor the risks that the society faces and to establish systems||| |and strategies
to minimize these. The principal
risks are those ofthe loss ofthe show|due to either|| |weather problems or disease
outbreaks
such as foot and mouth. The committee
hopes to reduce these||| |by impmvlng
the sll weather facilitiss on the showground
snd building
up reserves to finsnce this.||| |~Rsorves
EEgfi
Itis the policy ofthe sodety to hold free reserves eta sufficient level to enable
Itto continue operating||In the| |event offite loss of two successive annual shows.||| |The annual
agricultural
show is open to the general
public and entrance fees are kept|as low as economically|| |possible.||| ## ## ## ## ## ||||||| |---|---|---|---|---|---| |Trustees:|||W Harper||| ||||HG Dart||| ||||MJ Ley||(Chairman)| ||||KComings||| ||||GFG Kivell||| ||||DJ Snow||| ||||EQuick||(Vice Chairman)| ||||I Allin||| ||||P Ley||| ||||C Norman||| ||||G Underhill||| ||||G Phillips||| ||||C Hill||| ||||C Dart||| ||||Mrs BSavory||President| ||||L Pyle||| ||||Theresa Soanes||| |Charity Number:|||1071618||| |Company|Number:||3588826||| |Bankers:|||Lloyds TSBpic||| ||||5 High Street||| ||||Bideford||| ||||Devon||| |Solicffors:|||Peter, Peter &Wright||| ||||Grenvllle
House||| ||||The Quay||| ||||Bideford||| ||||Devon||| |Accountants:|||Arete||| ||||Lime Court||| ||||Pathgslds|Business Park|| ||||South Molton||| ||||Devon||| ||||EX363LH||| |Registered|Otffce:||Lime Court||| ||||Pathfields|Business Park|| ||||South Molton||| ||||Devon||| ||||EX363LH||| |Administration||Office|15George|Arcade|| ||||South Molton||| ||||Devon||| ||||EX363AB||| ## ## ## ## ## ||||FO|R THE YEAR ENDED|31OCTOBER 2022||| |---|---|---|---|---|---|---|---| ||||||UnrestHcled|Total|| |||||Note|Funds|2022|2021| ||||||6|5|6| |Income
nd En|wments||From||||| |Voluntary
income
Investmsnt
income|||||10,157
13|10,157
13|22,416
118| |Charitable
Activities|||||311,980|311,980|1,667| |Total income|||||322,151|322,151|24,201| |~adit
fs|||||||| |Costs ofcharitable|activities||||304,910|304,910|71,876| |Total Expenditure|||||304,910|304,g10|71,876| |Nef Income for the||year before other|||||| |mcognlssd gains|||||17,241|17,241|(47,675)| |Other recognised|gains||||||| |Net income for the year|||||17,241|17,241|(47,675)| |Total funds brought||forward|||123,160|123,160|170,835| |Total funds carried||forward|||140,401|140,401|123,160| ## ||Note||2021| |---|---|---|---| ||||8| |Ejfi~fiats
Tangible assets|10|24,846|28,723| |Current Assets|||| |Debtors||11,662|6,157| |Cash at bank and in hand||106,258|96,274| |||117,920|102,431| |Creditors:|||| |Amounts
falling due within one year|12||| |Net Current Assets||115,555|94.437| |Net Assets||, 0|| |Capital and Reserves
General fund|13|119,220|101,979| |Revaluafion
reserve|13||| |Total Reserves||140,401|| |1|ACCOUNTING
POLICIES||||||||| |---|---|---|---|---|---|---|---|---|---| |(a)|Basis of preparation
offinancial statements||||||||| ||Ths accounts have been prepared
in accordance
with|ths society's govering
document,|||||||| ||the Companies
Act 2006 and "Accounting
and Reporting
by charities:Statement||of||||||| ||Recommended
Practice applicable
to charities
preparing
their accounts
in accordance||||||||| ||with the Financial
Reporting
Standard
applicabls
in the|UK and Republic ofireland (FRS102)"|||||||| ||(as amended
for accounting
periods commencing
from 1 January 2016).The trust isa Public||||||||| ||Benefit Entity as define by FRS102.||||||||| ||Ths society has taken advantage
ofthe provisions
in ths SORP for charitiss
applying|||FRS||102|Update||| ||Bulletin
1 not to prepare a Statement
ofCash Flows.||||||||| |(b)|Fund accounting||||||||| ||Restricted Funds.
The society has no restricted
funds.||||||||| ||Unreslricied
funds. These are donations
and other incoming resources
receivable or generated||||||for|the|| ||objects ofthe charity without
further specific purpose
and which the charity may||use|for its purpose|||||| ||at its discretion.||||||||| |(c)|Income recognition||||||||| ||Income represents
subscriptions
received together
with other income received||from|charitable|||activities||| ||during the period.||||||||| ||Incoming resources are accounted
for on a receivable|basis. Unless stated, no|incoming||resources||||have| ||been included
in the SOFA nst ofexpenditure.||||||||| ||Voluntary
income is reoeived
by way of donations
and|gifts and is included
in full in the Statement of|||||||| ||Financial
Activities when receivable.
Gifts donated
for resale are included as income|||when||they|are|sold.|| ||Donated assets ars included at the value lo the charity|where this can bs quantified||and a third|||party||is| ||bearing the cost.||||||||| ||Donated services and facilities are included at the value to the charity where this can be quantified.|||||||Ths|| ||value ofservices provided
by volunteers
has not been|included.|||||||| |(d)|Expenditure
recognition||||||||| ||Expenditure
is recognised as soon as there is a legal or constructive
obligation||committing|||the|||| ||charity to that expenditure,
it is probable
that settlement|will be required
and the|amount||of||||| ||the obligation
can bs measured
reliably. The society is|not registered
for VAT and afi|||||||| ||expenditure
indudes
this where appropnate.||||||||| ||Afi expenditure
is accounted
for an accruals basis.||||||||| ||Charitable
expenditure
comprises those costs incurred|by the society in ths delivery||of its|||||| ||activities and services for its beneficiaries.
It includes costs that can be allocated||||||||| ||directly to such activities, costs ofan indirect nature necessary to supporl
them||and||||||| ||costs associated
with meeting the constitutional
and statutory
requirements
ofthe charity.||||||||| |(e)|Stocks||||||||| ||Stock is included at cost.||||||||| ||Fixed assets and depreciation||||||||| ||Tangible
fixed assets ars included
in Ihe accounts at oost less accumulated
depreciation||||unless||||| ||revalued.
Gains and losses on disposal and revaluation|oftangible
fixed assets|are charges|||or|||| ||credited to the SOFA.||||||||| ||Depreciation
is provided
by the society to write down the cost oftangible
fixed assets|||to their|||||| ||estimated
residual
value over the period oftheir expected useful economic lives||as follows:||||||| ||Cups-
60year straight
line basis.||||||||| ||Equipment-
20%reducing balance.||||||||| ||Improvements-
The period ofthe unexpired
lease on the show ground.||||||||| ||Where there are indications
that the values oftangible|fixed assets may have become impaired,|||||the||| ||directors carry out a full impairment
review and assets|are wrifien down to their|recoverable|||amounts|||| ||as necessary.||||||||| ## ## |||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |2|VOLUNTARY|||INCOME||||||Unrestricted|Total|| |||||||||||Funds|2022|2021| ||||||||||||E|E| ||Membership|||subscriptions||||||9,132|9,132|5,896| ||Donations||and grants|||||||1,025|1,025|8,622| ||Job Retention|||Scheme Grant||||||||7,898| |||||||||||10157|10,157|22 416| |3|INVESTMENT INCOME|||||||||||| |||||||||||Unrestricted|Total|| |||||||||||Funds|2022|2021| ||||||||||||E|E| ||UK bank interest|||||||||13|13|118| |4|INCOME FROM CHARITABLE|||||||ACTIVITIES||||| |||||||||||Unrestricted|Total|| |||||||||||Funds|2022|2021| |||||||||||E|E|E| ||Show income:|||||Entry fees||||16,320|16,320|369| |||||||Trade stands||||68,392|68,392|203| |||||||Net gate receipts||||180,315|180,315|| |||||||Selling|rights|||16,916|16,916|| |||||||Sponsorship|||money|24,520|24,520|1,095| |||||||Sundry|receipts|||5,517|5,517|| |||||||||||311980|311,980|1667| |5|EXPENDITURE|||||||||Unrestricted|Total|| |||||||||||Funds|2022|2021| |||||||||||E|E|E| ||Direct show||expenditure|||||||202,663|202,663|27,294| ||Sundry expenses|||||||||1,215|1,215|162| ||Depreciation|||||||||3877|3,877|645| |||||||||||207,755|207,755|26,811| ||Support costs|||(note 6)||||||97,155|97,155|45,065| |||||||||||304910|304,910|71 876| |6|SUPPORT||COSTS|||||||||| |||||||||||Unrestricted|Total|| |||||||||||Funds|2022|2021| |||||||||||E|E|E| ||Honorarium|||||||||200|200|350| ||Secretary's||fees &||expenses|||||25,515|25,515|23,741| ||Secretary's||assistants'|||fees||||9,700|9,700|2,420| ||ONce rent|||||||||9,312|9,312|5,349| ||Electricity|||||||||2,885|2,885|1,612| ||Advertising|||||||||13,247|13,247|59| ||Printing,
stationery||||and|computer||software||11,869|11,869|1,385| ||Telephone|and||administration|||costs|||8,784|8,784|4,307| ||ANliatiorl fees|||||||||241|241|60| ||Dinner and|other meetings||||||||3,268|3,268|120| ||Charitable
donations|||||||||6|6|| ||Oflice Service|||Charges||||||||1,009| ||Bank charges|||||||||3,910|3,910|69| ||Accountants'||fees -||independent||||examination|700|700|650| ||||||other services|||||1,122|1,122|972| ||Equipment|Hire||||||||3,648|3,648|2,962| ||Legal fees|||||||||510|510|| ||Repairs and||renewals|||||||2,237|2,237|| |||||||||||97155|97155|45065| ## ## ## ## ## ## |OPERATING LEASES|OPERATING LEASES||||||| |---|---|---|---|---|---|---|---| |The society's annual
commitments||for rental payments|under non-cancellable||lease as|at 31|| |October 2022 were as follows:|||||||| |Operating
leases which expires:||||||2022
f|2021
5| |Within one to five years||||||10,925|10,925| |The terms ofthe agreement|state|that the licence runs|ungil August 2024.||||| |TANGIBLE FIXEDASSETS||||||Leasehold|| ||||Cups|Equipment||Imp'vmnts|Total| |Costfveluation|||||||| |As at 1 November
2021|||21.815||53,443|70,767|146,025| |Additions
in period|||||||| |As at 31 October 2022|||21,815||53,443|70,767|146,025| |Depreciation|||||||| |As at 1 November 2021|||5,528||46,697|65,077|117,302| |Charge for the period|||436||1,012|2,429|3,876.65| |As at 31 October 2022|||5,984||47,709|67,506|121,179| |Net book value:|||||||| |As st 31October 2022|||15,851||5,734|3,261|24,846| |As at 31 October 2021|||16,287||6,746|5,690|28,723| ## ## |11|DEBTORS||||||| |---|---|---|---|---|---|---|---| |||||||2022|2021| |||||||6|6| ||Operating
debtors|||||4,189|460| ||Prepayments
Stock|||||6,640
833|4,581
1,116| ||Other debtors||||||| |||||||11,662|6,157| |~2|CREDITORS||||||| |||||||2022|2021| ||Creditors: amounts|||falling dus within one year||6|| ||Operating
creditors|||||833|6,891| ||Amounts
received|||in advance|||| ||Accruals and deferred||||income|1,532|1,103| |||||||2,365|7,994| |13|RESERVES||||||| ||Unrestricted|funds|||||| |||||||Revs/usf/on|General| |||||||Reserve|Fund| ||At 1 November||2021|||21,181|101,979| ||Surplus/(Oeacit)||in|ths|year||17,241| ||At 31October||2022||||| ## ## ##