**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
Page 2
**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
Page 3
**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:
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
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.
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
Page 7
**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...
Page 8
**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...
Page 9
**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...
Page 10
**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...
Page 11
**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...
Page 12
**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.
Page 13