Nidderdale Agricultural Society (a company limited by guarantee)
Trustees report and unaudited financial statements
for the year ended 30 November 2022
Company no: 00214545 Charity no: 1080890
Nidderdale Agricultural Society
(a company limited by guarantee)
Financial Statements
for the year ended 30 November 2022
Contents
| Page | |
|---|---|
| Legal & administrative information | 1 |
| Trustees report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 - 7 |
| Notes to the financial statements | 8 - 14 |
| Income and expenditure account | 15 |
Nidderdale Agricultural Society
(a company limited by guarantee)
Legal & Administrative Information for the year ended 30 November 2022
| Charity name | The Nidderdale Agricultural Society Limited |
|---|---|
| Company Number | 00214545 |
| Charity Registration Number | 1080890 (England & Wales) |
| Registered Office | The Lodge |
| Pateley Bridge | |
| Harrogate | |
| North Yorkshire | |
| HG3 5BD | |
| Trustees | J. Fort |
| F.D Smith | |
| K. Hardcastle | |
| T.A Stoney | |
| Secretary | S. Monk |
| Independent examiners | The Barker Partnership Limited |
| Chartered Accountants | |
| 24 High Street | |
| Pateley Bridge | |
| North Yorkshire | |
| HG3 5JU | |
| Bankers | Barclays Bank plc |
| 1 Churchill Place | |
| London | |
| E14 5HP |
Page 1
Nidderdale Agricultural Society
(a company limited by guarantee)
Trustees Annual Report for the year ended 30 November 2022
Constitution
Nidderdale Agricultural Society Ltd was formed under a memorandum & articles of association on the 22nd June 1926 and this was amended by a special resolution dated 9th March 2000.
The company has no share capital and is limited by guarantee. On the 25th May 2000, the Nidderdale Agricultural Society Ltd was accepted as a registered charity. In accordance with the Articles of Association, the members of the Council retire at the Annual General Meeting but, being eligible, offer themselves for re-election.
Objectives & activities
The charity looks to promote agricultural, horticulture & other kindred arts and interests (including the breeding and rearing of domestic animals of all kinds, and the provision of implements, appliances, manure's, foods, medicines and other things used, directly or indirectly, in connection with agriculture, horticulture, or the breeding or rearing of domestic animals) by any means from time to time considered desirable and in particular to do all of the following things - but not limited to them, namely:
To promote & hold shows, competitions, lectures, classes & meetings, to give prizes, cups, medals, awards and distinctions, to make experiments and tests, and acquire by any other means, knowledge in connection with agriculture and horticulture & other kindred arts & interests (including as aforesaid), and to prepare and issue text books, newspapers, magazines, circulars, catalogues and reports to members of the Society and others.
Achievements & performance
During the year, the Society sought to meet costs by allowing caravan clubs, local organisations & other clubs/groups to hold rallies, car boot sales & events on the grounds owned by the Society. In addition to this, the Society granted a lease of land to Harrogate Borough Council to allow car and coach parking for visitors to the town of Pateley Bridge. The 21 year lease has now ended and the running of the car park has been handed to a private company.
As usual, the centre piece for the Society is hosting the annual Nidderdale Agricultural Show. As it was due to clash with the Queen's funeral, there was a real danger that it could be cancelled for the third year in a row. However, due to the incredible efforts of all volunteers, members, committee, and officers of the Society, we were able to move the Show forward 24 hours and it went ahead on Sunday the 18th of September 2022. This was all achieved in 7 days.
To meet costs, the Society raises money by offering sponsorship & advertising opportunities, trade stand spaces, competitive classes & catalogues. In addition to this, the Society charges a subscription to members and charges an entrance fee to members of the public on Show Day.
We were blessed with good weather and an incredible rection from the public and the Show was a huge success. Such was the success of the show, it has already been agreed that the 2023 will also be hosted on a Sunday.
Financial Review
A summary of the results of the year's activities is given on page 16 of the accounts. The charitycan report a surplus of £63,494 (2021 surplus of £8,944)
Page 2
Nidderdale Agricultural Society
(a company limited by guarantee)
Trustees Annual Report for the year ended 30 November 2022
Reserves policy
The trustees have examined the charity's requirements for reserves in light of the main risks of the charity. In the event of a cancellation of a Show day or extreme weather conditions, as has happened in the past, the charity will lose a substantial proportion of its income for that year and the Council of members therefore, have determined that the level of unrestricted reserves of the charity must be sufficient to cover 12 months of expenditure. In the opinion of the trustees, the present level of reserves available to the charity adequately meets this requirement.
Directors
All directors are members of the Council. A full list of members is available from the registered office.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year which 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 the income and expenditure, of the charity for the period. In preparing these financial statements the council 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 UK Accounting Standards 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 operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Section 419 (2) of the Companies Act 2006 & Section 17(5) of the 2011 Charities Act. 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.
Small company provisions
These financial statements have been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.
This report was approved by the Board on ................................................. and signed on its behalf by
Trustee ...................................................... Trustee ............................................................. F. D. Smith T. Stoney
Page 3
Nidderdale Agricultural Society
(a company limited by guarantee)
Independent examiner's report to the trustees on the unaudited financial statements of Nidderdale Agricultural Society for the year ended 30 November 2022
I report on the accounts of Nidderdale Agricultural Society (charity number 1080890) for the year ended 30 November 2022 which are set out on pages 5 to 16.
Respective responsibilities of trustees and independent examiner
The charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under Part 16 of the Companies Act 2006 & section 144(2) of the Charities Act 2011 (the 2011 Act), and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act,
-
to follow the procedures laid down in the general directions given by the charity commission under section 145(5)(b) of the 2011 Act, and
-
to state whether particular matters have come to our attention.
Basis of independent examiners statement
My examination was carried out in accordance with general directions given by the charity commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from all trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to wether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiners statement
In the course with my examination, no matter has come to my attention;
-
(i) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep proper accounting records in accordance with section 386 of the Companies Act 2006; - to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
-
(ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
.................................................................. Date .....................................
Sarah Lawson ACA FCCA - Independent Examiner
The Barker Partnership Limited Chartered Accountants 24 High Street Pateley Bridge Harrogate, HG3 5JU
Page 4
Nidderdale Agricultural Society (a company limited by guarantee)
Statement of financial activities for the year ended 30 November 2022
| Unrestricted Funds Notes £ Incoming resources Incoming and endowments from: Donations and legacies 3 4,591 Charitable activities 4 138,617 Other trading activities 5 91,273 Investments 6 229 Total 234,710 Resources expended Expenditure on: Raising funds 7 16,150 Charitable activities 8 121,771 Other 10 33,295 Total 171,216 Net movement in funds in year 63,494 Reconciliation of funds Total funds brought forward 20 313,446 Total funds carried forward 20 376,940 |
2022 Total £ 4,591 138,617 91,273 229 234,710 16,150 121,771 33,295 171,216 63,494 313,446 376,940 |
2021 Total £ 1,342 - 53,421 115 |
|---|---|---|
| 54,878 | ||
| - 14,259 31,675 |
||
| 45,934 | ||
| 8,944 304,502 |
||
| 313,446 |
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
Page 5
Nidderdale Agricultural Society
(a company limited by guarantee)
Balance sheet as at 30 November 2022
| Notes Fixed Assets Tangible assets 12 Current Assets Stocks 13 Debtors 14 Cash at bank and in hand 15 Creditors: amounts falling due within one year 16 Net Current assets Total Assets Less Current Liabilities The funds of the charity Unrestricted funds 20 Total charity funds |
2022 £ 359 7,310 208,111 215,780 ) (15,529 |
£ 176,689 200,251 376,940 376,940 376,940 |
2021 £ 359 1,980 143,186 145,525 ) (7,732 |
£ 175,653 137,793 |
|---|---|---|---|---|
| 313,446 | ||||
| 313,446 | ||||
| 313,446 |
The directors' statements required by Section 475(2) and (3) are shown on the following page which forms part of this Balance Sheet.
The notes on pages 8 to 15 form an integral part of these financial statements.
Page 6
Nidderdale Agricultural Society
(a company limited by guarantee)
Balance sheet (continued)
Directors' statements required by Sections 475(2) and (3) for the year ended 30 November 2022
In approving these financial statements as directors of the company we hereby confirm:
-
(a) that for the year stated above the company was entitled to the exemption conferred by Section 477 of the Companies Act 2006 ;
-
(b) that no notice has been deposited at the registered office of the company pursuant to Section 476 requesting that an audit be conducted for the year ended 30 November 2022 ; and
-
(c) that we acknowledge our responsibilities for:
-
(1) ensuring that the company keeps accounting records which comply with Section 386 ; and
-
(2) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of Section 393 and which otherwise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the company.
These accounts have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), issued 16 July 2014, with the Charities Act 2011 & the Companies Act 2006.
The financial statements were approved by the Board on ...................................... and signed on its behalf by
Chairman................................................... M Smith
President....................................................
T Stoney
Registration number 00214545
The notes on pages 8 to 15 form an integral part of these financial statements.
Page 7
Nidderdale Agricultural Society (a company limited by guarantee)
Notes to the financial statements for the year ended 30 November 2022
1. Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevan notes to the accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), issued 16 July 2014, with the Charities Act 2011 & the Companies Act 2006.
1.1. Fund accounting
Unrestricted funds are available at the discretion of the management committee in furtherance of the general objectives of the Charity.
1.2. Incoming resources
Recognition of assets & income
Income is recognised in the Statement of Financial Activities (SoFA) when a transaction or other event results in an increase in the charity's assets or a reduction in its liabilities. Income is only recognised in the accounts when all of the criteria regarding entitlement, probable and measurement are met.
Recognition of grants and donations
Income is only recognised in the accounts when all of the criteria regarding entitlement, probable and measurement are met. In the case of a grant, evidence of entitlement usually exists when the formal offer of funding is communicated in writing to the charity. However, in the event that conditions are placed on the grant, those conditions must be met before income is recognised. In the case of a donation, entitlement arises immediately on its receipt.
Investment income
Income from interest is recognised when its receipt is probable and the amount receivable can be measured accurately.
1.3. Recognition of resources expended
Recognition of liabilities & expenditure
Expenditure is the amount of a charity's resources that have been spent or otherwise used in carrying out its activities. An expense results in either a decrease in a charity's assets or an increase in its liabilities. Liabilities and expenditure are only recognised in the accounts when all criteria regarding entitlement, probable and measurement are met.
Governance costs
Include the costs of the preparation and examination of the statutory accounts, the cost of trustees' meetings and cost of any legal advice to the trustees on governance or constitutional matters. Governance costs are only recognised in the accounts when all criteria regarding entitlement, probable and measurement are met.
Page 8
Nidderdale Agricultural Society (a company limited by guarantee)
Notes to the financial statements for the year ended 30 November 2022
.................... continued
1.4. Employee benefits
Employees benefits include all costs incurred by the charity in exchange for the services of its employees. Expenditure is recognised for all employee benefits resulting from their service to the charity during the reporting period unless the staff costs have been capitalised as part of the cost of an asset.
1.5. Transactions with trustees and related parties
During the year, the Charity did not remunerate or provide benefits to any trustees. No expenses were paid to trustees and there are no transactions with related parties to report. (2021 £nil.)
- 1.6. Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
| Land | - | Nil |
|---|---|---|
| Freehold buildings | - | 10% on a reducing balance basis |
| Equipment | - | 10% on a reducing balance basis |
1.7. Stock
Stock is valued at the lower of cost and net realisable value.
1.8. Financial instruments
Financial instruments are classified and accounted for, according to the substance of contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2.
| Net incoming resources for the year Net incoming resources is stated after charging: Depreciation and other amounts written off tangible assets and after crediting: Donations Interest receivable |
2022 £ 4,618 4,591 229 |
2021 £ 4,502 |
|---|---|---|
| 1,342 115 |
Page 9
Nidderdale Agricultural Society (a company limited by guarantee)
Notes to the financial statements for the year ended 30 November 2022
| .................... continued 3. Donations and legacies Donations 4. Charitable activity income Subscriptions Sponsorship Gate Money Entry Fees Catalogues Advertising & Trade stands 5. Other trading activities Rents & parking commission Basic Payment Scheme Entitlements Sundries Dinner Dance tickets & Raffle 6. Investments Bank & Building society interest |
2022 £ 4,591 4,591 2022 £ 27,289 13,658 76,626 3,742 1,013 16,289 138,617 2022 £ 73,861 789 405 16,218 91,273 2022 £ 229 229 |
2021 £ 1,342 |
|---|---|---|
| 1,342 | ||
| 2021 £ - - - - - - |
||
| - | ||
| 2021 £ 52,591 830 - - |
||
| 53,421 | ||
| 2021 £ 115 |
||
| 115 |
Page 10
Nidderdale Agricultural Society (a company limited by guarantee)
Notes to the financial statements for the year ended 30 November 2022
.................... continued
| 7. Raising funds Dinner Dance Expenses 8. Charitable activity costs Sundry Building & Ground Improvements Show day expenses - note 9 Show day equipment hire Prize Money Advertising & Catalogues Stationery & Printing Postage & Secretary's expenses Honorariums Depreciation |
2022 £ 16,150 16,150 2022 £ 10,239 50,577 26,859 15,311 4,106 7,319 1,992 750 4,618 121,771 |
2021 £ - |
|---|---|---|
| - | ||
| 2021 £ 6,684 - 2,222 - 538 115 198 - 4,502 |
||
| 14,259 |
Page 11
Nidderdale Agricultural Society (a company limited by guarantee)
Notes to the financial statements for the year ended 30 November 2022
.................... continued
| 9. Show day expenses Erection & Dismantling & Poultry Penning Catering Traffic Control Temporary Electricity Supply Judges Expenses Trophies, Engraving & Signwriting (2018 & 2019) Sundries 1st Aid Cover Musical Band Main Ring Attraction Security 10. Other Independent Examiners Fees Legal & professional fees Utilities & insurance Wages and pension costs Subscriptions & Donations Sundries |
2022 £ 4,651 12,720 2,483 3,500 195 60 18,986 1,511 600 3,597 2,274 50,577 2022 £ 1,310 - 8,969 20,600 298 2,118 33,295 |
2021 £ - - - - - - - - - - - |
|---|---|---|
| - | ||
| 2021 £ 1,024 1,500 7,231 20,600 287 1,033 |
||
| 31,675 |
Page 12
Nidderdale Agricultural Society (a company limited by guarantee)
Notes to the financial statements for the year ended 30 November 2022
.................... continued
| 11. | Staff costs | 2022 | 2021 |
|---|---|---|---|
| £ | £ | ||
| Salaries & wages | 12,800 | 12,800 | |
| Pension contributions | 7,800 | 7,800 | |
| 20,600 | 20,600 | ||
| Number | Number | ||
| Number of employees during the year | 1 | 1 |
No employee received remuneration, expenses or benefits exceeding £60,000 during the year.
12. Tangible fixed assets
| Freehold Land & Buildings Equipment £ £ Cost at 1 December 2021 218,495 23,327 Additions 4,735 919 At 30 November 2022 223,230 24,246 Depreciation At 1 December 2021 52,730 13,439 Charge for the year 3,537 1,081 At 30 November 2022 56,267 14,520 Net book values At 30 November 2022 166,963 9,726 At 30 November 2021 165,765 9,888 |
Total £ 241,822 5,654 |
|---|---|
| 247,476 | |
| 66,169 4,618 |
|
| 70,787 | |
| 176,689 | |
| 175,653 |
Page 13
Nidderdale Agricultural Society
(a company limited by guarantee)
Notes to the financial statements for the year ended 30 November 2022
| .................... continued 13. Stocks Souvenirs & goods sold in Heritage marquee 14. Debtors Trade debtors Prepayments and accrued income 15. Cash at bank and in hand Barclays Bank accounts Virgin Charity Deposit Account Virgin Deposit Account Petty cash account 16. Creditors: amounts falling due within one year Trade creditors Other taxes and social security costs Accruals and deferred income 17. Company Limited by guarantee |
2022 £ 359 2022 £ 4,010 3,300 7,310 2022 £ 120,919 87,127 63 2 208,111 2022 £ 2,409 9,030 4,090 15,529 |
2021 £ 359 2021 £ 1,117 863 |
|---|---|---|
| 1,980 | ||
| 2021 £ 56,214 86,899 63 10 143,186 2021 £ 4,901 464 2,367 |
||
| 7,732 | ||
The Society has no share capital as it is limited by guarantee.
Page 14
Nidderdale Agricultural Society (a company limited by guarantee)
Notes to the financial statements for the year ended 30 November 2022
.................... continued
18. Taxation
The Charity's activities fall within the exemptions afforded to Charitable Companies under sections 466 to 493 of the Corporation Tax Act 2010 (CTA 2010). Accordingly, there is no corporation tax liability provided on ordinary activities.
19. Analysis of net assets between funds
| Unrestricted funds £ Fund balances at 30 November 2022 as represented by: Tangible fixed assets 176,689 Current assets 215,780 Current liabilities ) (15,529 376,940 |
Total funds £ 176,689 215,780 ) (15,529 376,940 |
|---|---|
20. Unrestricted funds
| At | Incoming | Outgoing | At | ||
|---|---|---|---|---|---|
| 1 Dec 21 | resources | resources | 30 Nov 22 | ||
| £ | £ | £ | £ | ||
| General funds | 313,446 | 234,710 | (171,216 | ) | 376,940 |
Purposes of unrestricted funds
Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objects.
Page 15
Nidderdale Agricultural Society
Income and Expenditure Account for the year ended 30 November 2022
| Notes Incoming resources Show day income Bank & building society interest received HBC rent & parking commission Grazing & rents received Donations received Dinner Dance tickets & Raffle Sundries Basic Payment Scheme Entitlements Less resources expended Rates, water and electricity Insurance Telephone & Internet costs Work in park Advertising, stationery and printing Postage & Secretary's expenses Wages and pension costs Subscriptions & Donations Sundries Prize Money Show day expenses Honorariums Hire of Public Address System Hire of Marquees etc Hire of Jumps Dinner Dance Expenses Independent Examiners Fees Legal & professional fees Depreciation Surplus / (deficit) on ordinary activities |
2022 £ £ 138,617 229 20,063 53,798 4,591 16,218 405 789 234,710 2,491 6,084 394 10,239 11,425 1,992 20,600 298 2,118 15,311 50,577 750 3,305 23,064 490 16,150 1,310 - 4,618 ) (171,216 63,494 |
2021 £ 1,306 5,434 491 6,684 653 198 20,600 287 1,033 - - - - 2,222 - - 1,024 1,500 4,502 |
£ - 115 6,968 45,623 1,342 - - 830 54,878 ) (45,934 8,944 |
|---|---|---|---|
Page 16