REGISTERED COMPANY NUMBER: 03780524 (England and Wales)
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
FOR
NORTH LONSDALE AGRICULTURAL SOCIETY
NORTH LONSDALE AGRICULTURAL SOCIETY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 13 |
NORTH LONSDALE AGRICULTURAL SOCIETY (REGISTERED NUMBER: 03780524)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal objective of the company is to improve the breed of stock and encourage home industries, improvement to tillage, the management of grasslands and other rural affairs, to organise, promote, manage, and conduct for charitable purposes only Agricultural Shows and exhibitions of all kinds. The trustees confirm that they have referred to the general guidance on public benefit issued by the Charity Commission when reviewing and planning the charity's aims and objectives.
The principal activity is the holding of the North Lonsdale Show.
The trustees confirm that they have complied with their duty under section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission and consider that the pursuit of the association's aims through the activities described above is consistent therewith.
ACHIEVEMENT AND PERFORMANCE
Review of activities, developments and achievements
The Society was successfully able to host the show again this year on 31 July 2024. They have confirmed the next show on 30 July 2025.
Investment policy
The Trustees are empowered by the memorandum and articles of association to invest in the name of the company, any monies not required for the immediate purposes of the association in any security permitted by law.
FINANCIAL REVIEW
Reserves policy
The Trustees consider that the most appropriate level of free unrestricted reserves should be equivalent to twelve months expenditure. At this level the Trustees believe that the Company and its objectives can be sustained in the event of at least one annual show being wiped out by very adverse weather. Free unrestricted reserves at the year-end were £98,906 (2023: £91,790), meeting the policy requirement.
FUTURE PLANS
We are fortunate to be able to secure the location for our next show. We will once again be looking to attract further trade stands and increase our corporate sponsorship.
We are still mindful of sensible budgeting and are tendering where required to ensure we are getting best value for money.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The organisation is a charitable company limited by guarantee, incorporated on 1st June 1999 and registered as a charity on 7th April 2000. Company number: 3780524. Charity number: 1080233. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under the Articles of Association. Under those Articles, the members of the Management Committee must be approved by the trustees, and may permit any member to retire providing the remaining number of members is not less than two. At any one time there must be no less than three trustees and one third of their number must retire by rotation at each AGM. In the event of the winding up of the charitable company the liability of the members is not to exceed £10 each.
Page 1
NORTH LONSDALE AGRICULTURAL SOCIETY (REGISTERED NUMBER: 03780524)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
The trustees are first elected at an annual general meeting by the members of the charity, in accordance with the governing document. In the event of a new trustee being required, nomination of a suitable candidate will be made by the existing trustees and the management committee. The name of the candidate(s) will then be put forward at the annual general meeting for election. No external person or body is entitled to appoint any Trustees to the Charity.
Organisational structure
The trustees who served the charity during the period were as follows:
Mr W M Towers Mr M Wood Mr P J Coward Mr C Tyson
Decisions on the day-to-day running of the company are taken by the Trustees and their management committee at meetings which are held between five and six times a year.
Induction and training of new trustees
Induction and training of a new trustee will be undertaken by the combined guidance of the existing trustees, the Charity's appointed legal advisor and its appointed accountants.
Risk management
The trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company and are satisfied that systems are in place to mitigate our exposure to the major risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
03780524 (England and Wales)
Registered Charity number
1080233
Registered office
Robbs Waters Farm Park Road Barrow in Furness Cumbria LA14 4QP
Trustees
Mr P J Coward Mr W M Towers Mr M Wood Mr C Tyson
Company Secretary
Mrs L Case
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NORTH LONSDALE AGRICULTURAL SOCIETY (REGISTERED NUMBER: 03780524)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
J F Hornby, FCA J F Hornby & Co Chartered Accountants The Tower Daltongate Business Centre Daltongate Ulverston Cumbria LA12 7AJ
Bankers
National Westminster Bank plc 113 Dalton Road Barrow in Furness Cumbria LA14 1WY
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NORTH LONSDALE AGRICULTURAL SOCIETY (REGISTERED NUMBER: 03780524)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024
REFERENCE AND ADMINISTRATIVE DETAILS Management Committee
| Chairperson: | Mr S Case | |
|---|---|---|
| Vice-Chairperson: | Mr P Slater | |
| Treasurer: | Miss G Halpin | |
| Health and Safety | ||
| Officer: | Mr S Case | |
| Honorary Life Members: | Bowes J, Gleaston | Shaw G, Dalton in Furness |
| Wood M, Ulverston | Towers W S, Newbiggin | |
| Newton F, MRCVS, Ulverston | Case W, Plumpton | |
| Life Members: | Barnes F, Ulverston | Coward M, Askam |
| Sharp W E, Ulverston | Shuttleworth E, Ulverston | |
| Dawson L Mrs, Ulverston | Taylor J, Ulverston | |
| Dawson T L, Swarthmoor | Towers W M, Aldingham | |
| Williams D, Rampside | Tyson D, Little Urswick | |
| Butler D, Barrow in Furness | ||
| Elected Members | Benson S, Pennington | Satterthwaite J W, Lindal in Furness |
| Brettle S, Ulverston | Satterthwaite R B, Lindal in Furness | |
| Case S, Barrow in Furness | Sawrey E, Urswick | |
| Case W J, Newland | Sharp J, Lindal in Furness | |
| Crayston G, Arrad Foot | Slater P, Dalton in Furness | |
| Cresswell B, Lindal in Furness | Stable M, Little Urswick | |
| Crowe D, Ulverston | Stable T, Little Urswick | |
| Dawson S A, Ulverston | Stephenson J, Urswick | |
| Dennison A, Aldingham | Stephenson T, Ulverston | |
| Dixon E, Askam | Storey L, Ulverston | |
| Fell K J, Newbiggin | Thompson L, Swarthmoor | |
| Halpin G, Scales | Tyson C, Great Urswick | |
| Hodgson R F, Pennington | Waddington S A, Dalton in Furness | |
| Hornby N, Lindal in Furness | Whalley M, Ulverston | |
| Langhorn J, Scales | Wood A, Pennington | |
| Morphet W, Swarthmoor | Wood G, Scales | |
| Parker L, Dalton in Furness | Wood J, Holmrook | |
| Postlethwaite T, Little Urswick |
REPORTING ACCOUNTANTS
J F Hornby & Co will act in office as reporting accountants for the ensuing year.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 15 June 2025 and signed on its behalf by:
Mr M Wood - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTH LONSDALE AGRICULTURAL SOCIETY
Independent examiner's report to the trustees of North Lonsdale Agricultural Society ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2024.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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.
J F Hornby, FCA
J F Hornby & Co Chartered Accountants The Tower Daltongate Business Centre Daltongate Ulverston Cumbria LA12 7AJ
15 June 2025
Page 5
NORTH LONSDALE AGRICULTURAL SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2024
| 31.10.24 | 31.10.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2 | 40,841 | 38,051 |
| Investment income | 3 | 472 | 210 |
| Total | 41,313 | 38,261 | |
| EXPENDITURE ON | |||
| Raising funds | 4 | 35,007 | 33,131 |
| NET INCOME | 6,306 | 5,130 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 91,790 | 86,660 | |
| TOTAL FUNDS CARRIED FORWARD | 98,096 | 91,790 |
The notes form part of these financial statements
Page 6
NORTH LONSDALE AGRICULTURAL SOCIETY (REGISTERED NUMBER: 03780524)
BALANCE SHEET 31 OCTOBER 2024
| 31.10.24 Unrestricted funds Notes £ FIXED ASSETS Tangible assets 9 39,529 CURRENT ASSETS Debtors 10 - Investments 11 150 Cash at bank and in hand 58,832 58,982 CREDITORS Amounts falling due within one year 12 (415) NET CURRENT ASSETS 58,567 TOTAL ASSETS LESS CURRENT LIABILITIES 98,096 NET ASSETS 98,096 FUNDS 13 Unrestricted funds 98,096 TOTAL FUNDS 98,096 |
31.10.23 Total funds £ 39,723 81 150 53,124 53,355 (1,288) 52,067 91,790 91,790 91,790 91,790 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 15 June 2025 and were signed on its behalf by:
Mr M Wood - Trustee
The notes form part of these financial statements
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NORTH LONSDALE AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Land & buildings | - in accordance with the property |
|---|---|
| Fixtures and fittings | - 25% on reducing balance |
| Computer equipment | - 25% on reducing balance |
Taxation
The charity is exempt from corporation tax on its charitable activities.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 31.10.24 | 31.10.23 | |
| £ | £ | |
| Gates, programmes & subs | 21,564 | 19,148 |
| Trade craft and stands | 11,555 | 5,744 |
| Entry fees | 1,926 | 2,106 |
| Prize money received | 612 | 5,564 |
| Bar & dance surplus | 5,174 | 5,260 |
| Donations | 10 | 229 |
| 40,841 | 38,051 |
continued...
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NORTH LONSDALE AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024
3. INVESTMENT INCOME
| Deposit account interest 4. RAISING FUNDS Raising donations and legacies Support costs 5. SUPPORT COSTS Management £ Raising donations and legacies 23,034 Support costs, included in the above, are as follows: Marquee hire Fitting up and rent of fields Judges fees and prizes Security, gatekeepers & help Catering Show attractions Insurance Repairs & renewals Telephone Postage and stationery Sundries Bank charges Licences I.T. expenditure Administrative costs Accountancy Legal fees Depreciation of tangible fixed assets |
31.10.24 31.10.23 £ £ 472 210 31.10.24 31.10.23 £ £ 35,007 33,131 Governance Finance costs Totals £ £ £ 5,736 6,237 35,007 31.10.24 31.10.23 Raising donations and Total legacies activities £ £ 9,702 8,928 3,952 3,265 5,690 9,210 500 500 705 464 2,485 2,340 1,800 1,572 - 857 150 420 2,205 2,891 - 12 86 125 160 123 1,335 71 5,908 2,000 120 120 13 13 196 220 35,007 33,131 |
31.10.24 31.10.23 £ £ 472 210 31.10.24 31.10.23 £ £ 35,007 33,131 Governance Finance costs Totals £ £ £ 5,736 6,237 35,007 31.10.24 31.10.23 Raising donations and Total legacies activities £ £ 9,702 8,928 3,952 3,265 5,690 9,210 500 500 705 464 2,485 2,340 1,800 1,572 - 857 150 420 2,205 2,891 - 12 86 125 160 123 1,335 71 5,908 2,000 120 120 13 13 196 220 35,007 33,131 |
|---|---|---|
| 33,131 |
continued...
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NORTH LONSDALE AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024
6. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.10.24 | 31.10.23 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 194 | 221 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2024 nor for the year ended 31 October 2023.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 38,051 |
| Investment income | 210 |
| Total | 38,261 |
| EXPENDITURE ON | |
| Raising funds | 33,131 |
| NET INCOME | 5,130 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 86,660 |
| TOTAL FUNDS CARRIED FORWARD | 91,790 |
continued...
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NORTH LONSDALE AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024
9. TANGIBLE FIXED ASSETS
| Land & buildings £ COST At 1 November 2023 and 31 October 2024 39,572 DEPRECIATION At 1 November 2023 152 Charge for year 122 At 31 October 2024 274 NET BOOK VALUE At 31 October 2024 39,298 At 31 October 2023 39,420 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments 11. CURRENT ASSET INVESTMENTS Listed investments |
Fixtures and Computer fittings equipment Totals £ £ £ 5,138 3,414 48,124 4,892 3,357 8,401 59 13 194 4,951 3,370 8,595 187 44 39,529 246 57 39,723 31.10.24 31.10.23 £ £ - 81 31.10.24 31.10.23 £ £ 150 150 |
Totals £ 48,124 |
|---|---|---|
| 8,401 194 |
||
| 8,595 | ||
| 39,529 | ||
| 39,723 |
Investments are stated at market value. Market value is the market price on the balance sheet date. Realised and unrealised gains and losses are taken to the income and expenditure account. Income has been taken into account on the due date of payment.
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.10.24 | 31.10.23 | |
|---|---|---|
| £ | £ | |
| Trade creditors | - | 901 |
| Accrued expenses | 415 | 387 |
| 415 | 1,288 |
continued...
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NORTH LONSDALE AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024
13. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| At | movement | At | |
| 1.11.23 | in funds | 31.10.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 91,790 | 6,306 | 98,096 |
| TOTAL FUNDS | 91,790 | 6,306 | 98,096 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 41,313 | (35,007) | 6,306 |
| TOTAL FUNDS | 41,313 | (35,007) | 6,306 |
| Comparatives for movement in funds | |||
| Net | |||
| At | movement | At | |
| 1.11.22 | in funds | 31.10.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 86,660 | 5,130 | 91,790 |
| TOTAL FUNDS | 86,660 | 5,130 | 91,790 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 38,261 | (33,131) | 5,130 |
| TOTAL FUNDS | 38,261 | (33,131) | 5,130 |
continued...
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NORTH LONSDALE AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024
13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net At movement At 1.11.22 in funds 31.10.24 £ £ £ 86,660 11,436 98,096 86,660 11,436 98,096 |
Net At movement At 1.11.22 in funds 31.10.24 £ £ £ 86,660 11,436 98,096 86,660 11,436 98,096 |
|---|---|---|
| 98,096 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 79,574 | (68,138) | 11,436 |
| TOTAL FUNDS | 79,574 | (68,138) | 11,436 |
14. RELATED PARTY DISCLOSURES
Mrs L Case, Company Secretary, received £2,200 (2023 £1,906) for administrative services.
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