Charity registration number 1082095 Compary registrdtion number 03968279 {England and Wales) WOLSINGHAMAND WEAR VALLEY AGRICULTURAL SOCIETY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
WOLSINGHAM AND WEAR VALLEY AGRICULTURAL SOCIETY LEGALAND ADMINISTRATIVE INFORMATION Trustae$ Mr J Hodgson Mr l Ross Mr J Bell Mr G Pyboume Mr K Lough Mr J Emmerson Mr P Walker Mr J Suddes Charlty number 1082095 Company numbor 03968279 Registered offlce 5 Henson Close South Church Enterprlse Park Bishop Auckland Co Durham DL14 6WA Independent examln•r MrPWLamb Allen Sykes Limrted 5 Henson Close South Chtjrch Enterprise Park Bishop Auckland Co Durham DL14 6WA
WOLSINGHAMAND WEAR VALLEY AGRICULTURAL SOCIETY CONTENTS Page Trustees, report Independent examinerfs report Statement (rf financial activities Statement of financial positi'on Notes to the financial statements 7-16
WOLSINGHAMAND WEAR VALLEY AGRICULTURAL SOCIETY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 OCTOBER 2024 The Trusteès present their annual rèport and financial statements for the year ènded 31 Odober 2024. The financial statements have been prepared in accordance wilh the accounting policies set out in note 1 to the financial statements and comply with the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to chartlies preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Oblactives and actlvitios The charitable objective of the Society and principal activty is to promote improvement in the breeding of livestock and lo improve the standards of farming and fann craft for the farmers residing within the area. In planning our activities the trustees have given due regard to guidan published by the Charity Commission on public benefit. Achlovoments and pÈrfomMn¢e The run up to show weekend in 2024 saw the soety go through a period of cx)nsiderable transition, with both the key posts of Chairman & General Secretary seeing change in personnel. We would like to extend a massive thank you to Mr David B riggs, our outgoing chairman. for leaving the chairmans role in such a good standing. We would also Ilke to welcome Mr Patrick Harwood to the role of General se¢tary and look forward to working wrth him for the continuing success of the show going for4¥ard. Patrick has, in the shorl lime he has been in the role, already identified the standards that we need to adhe to that will keep us LYJmpliant with our status as charity. Despite the changes In management, with the concerted effort of existing Gounul members and officAals, the Society rose to the challenge. Mr lan Ross, the treasurer. was an invaluable asset to thè running of the 2024 show, providlng a continuation of knowledge in the days Just prior to and over show weekend. This combined with the additional help of the various section secretsnes and an amiy of volunteers. coupled with the continued support of our valued sponsors and partners, the show weekend itself was once again a huge success, onty hampered by the poor weather on the Sunday of the sh¢)w which had a detrimental impact on fooffall on the second day. Sponsorship of the show continues to be extremely attractive and we are grateful to our longstanding major sponsors, East Durham College, Northem Metal Recyding, ALX Horseboxes, Martin Bell Car Sales, Fred Henderson Ltd, ProPitch SeNices Ltd and The Feed Warehouse, together with Workwear Express Ltd, Stagecoach NE Ltd & Batsons Groundcare Ltd whose help and support remain invaluable to the smooth running of the show. Diversity of income is important to us and we therefr) continue to hire out 'The Barn. and fields throughout the year for all kinds of events ranging from christenings & weddings to antique fairs, poultry shows & dog agility classes and events. Truckfest NE is also now a fimi favourite in the calendar. Wth the recent rise in interest rates, we have also taken the opportunty to 'invest' our accumulated deposits in the short temi across a few selected deposit takers wrth a view to providing another lucrative income stream, bul also to protect our funds under the FSCS guarantee scheme. Our continued investment in the infrastructure of the show field o)ntinues apace with the completion of the new dwarf wall around the car park, with jLJSt some soft landscaping needed to finalise the project. A new planning application w8s submttted during the year in respect of the eredion of a new storage building at the railway end of the show ground, together with further additional intemal roads which will provide further insurance against inclement weather in the years to come. A positive response to the requèst is antiapated. Incrèased usage is now being made of the hyo shipping containers used as the office & a meeting room and these provided a valuable base over the show weekend. Further cosmetic work is planned to enhance the area surrounding these stmctures.
WOLSINGHAMAND WEAR VALLEY AGRICULTURAL SOCIETY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 th IhÉ hèlp of Stuart Watson and Lewis Maddison and their associates. and groundworks by David Briggs, the internet has been improved to the showground with WPFI being inslalled around the main field for the trade slands, and into the pay booths. A second stage will indude the rest of the site at a future date, and hopefully a direct leasa line in to give increased speeds. It is also intended to upgrade the water supply. increasing water to the showground to better Sen the toilet blocks over show weekend and other events. This is to be left in the capable hands of John Carrick and Jonathan Elliot. Throughout the year the Society continued to attrad enquiries to rent OLrt the bam & showground for a variety of reasons thus enabling it to continue to drversify its income streams and probllde a 'buffer' against a damaging wet show weekend in future years. Financial review The annual results show a surplus of £91,307 {2023.' £121.168). The level of unrestricted free reserves at 31st October 2024 was £566,973 (2023: £466,965). The charity requires reserves (money not designated for any purposes) in order lo fund the provision of the annual show and to improve the on site facilrties. The trustees considei that reserves of at least the cosi of holding the show be held, together with sufficient funds to enable the Society to finance the purchase of addttional facilitiès for the showground. Stru¢ture> governance and management Wolsingham and Wear Valley Agricuftural Society is a private limited company and a regislered Charity. The company is limited by guarantee wrth the guarantors being the members to the extent of £1 each. The registered charity number is 1082095. The company was established under a Memorandum of Assoa8tion which estsblish8d the objects and powers of the charitable company and is govemed under its Articles of Association. In the event of the Company being wound up members are required lo contribute an amount not exceeding £1 each. Admission of members lo the society is by writing to the Secretary of the Society which is then considered by the Society's Council for admission. The Trustees, who are also the directors for the purpose of company law. and who seNed during the year and up to the date of signature of the financial statements were.. Mr J Hodgson Mr l Ross Mr J Bell Mr G Pybourne Mr K Lough Mr J Emmerson Mr P Walker Mr J Suddes Mr D Briggs (Resigned 31 July 2024) Trustee Induction and trainlng Most trustees are familiar with the pradical work of the charity and are encouraged to take on relevant training. Small company provisions This report has been prepared in accordan with the provisions applicable to companies entitled to the small companies exemption. The trustees, report was approved by the Board of Trustees.
WOLSINGHAMAND WEAR VALLEY AGRICULTURAL SOCIETY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Mr P Walker Trustee 25 June 2025
WOLSINGHAM AND WEAR VALLEY AGRICULTURAL SOCIETY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WOLSINGHAM AND WEAR VALLEY AGRICULTURAL SOCIETY I report lo the Trustees on my examinats'on of the finaneAal statements of Wolsingham and Wear Valley Agricultural SocAety (the charity) foi the year ended 31 Oclober 2024. Respon6ibilltie8 and basis of report As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with thè requirements of the Companies Act 2006 (the 2006 Act). Having salisfied myself that the financial statements of the charity are nol 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 the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charty Commission under section 145{5){b) of the 2011 Act. Independent examlnerf8 statemènt Since the charty's gross in¢ome exceeded £250,000 your examiner must be a member of a body lisled in section 145 of Ihe 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of ICAEW, which is onè of the listed bodies. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charty as required by section 386 of the 2006 Act. or the financial statements do not accord with those records.. or the financial statements do not comply with thè accounting requirements of section 396 of the 2006 Act other than any requirement that the accounls give a true and fair view which is not a matter consKlered as part of an independent examination., or the financial slatements have not been prepared in accordan with the methods and principles of the Statemènt of Rècommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Repon9 Stsndard applicable in the UK and Republic of Ireland {FRS 102). I have no concems and have come across no olher matters in conne¢tion wtlh the examination to which altention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. MrPWLamb Independent Examiner Allen Sykes Limited 5 Henson Close South Church Enterprise Park Bishop Auckland Co Durham DL14 6WA Dated." 28 June 2025
WOLSINGHAM AND WEAR VALLEY AGRICULTURAL SOCIETY STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2024 Unrestricted Restrl¢ted funds funds 2024 2024 Totsl Unrestrfcted R8strlcted funds funds 2023 2023 Total 2024 2023 Note8 Income from: Donations and lega¢ies Other trading activities Investments 57,583 283.198 62,683 57,583 283.198 62,683 47,227 333.665 53,355 47,227 333,665 53,355 Totsl Income 403.464 403.464 434.247 434.247 Expendlture on: Charilable activilies Other expenditure 309,761 2.358 312.119 38 309,829 892 2,358 312,187 892 Totsl expendltur• 309.799 2.358 312.157 310,721 2,358 313,079 Net incom•llexpendltur•) and movement In fund8 93,e65 (2,358) 91,307 123.526 (2.358) 121,168 Reconclllatlon of funds.. Fund balanS al 1 November 2023 668,016 221,858 889.874 544.4 224,216 768,706 Fund balances at 31 Octobor 2024 761,681 219,500 981,181 668,018 221,858 889,874 The $18tement of financial activities indudes all gains and losses recognised in the year. All Income and expenditure derive from continuing actiwties.
WOLSINGHAM AND WEAR VALLEY AGRICULTURAL SOCIETY STATEMENT OF FINANCIAL POSITION AS Af31 OCTOBER 2024 2024 2023 Notes Fixed assets Tangible assets 14 414,208 422,909 Current a88ets Debtors Inveslments Cash at bank and in hand 15 16 15,646 340.054 230,749 5,179 245,109 222,347 586.449 472,635 Creditors: amount• falllng due wlthln one year 17 (19,476) (5,670) Net current assets 566.973 466,965 Total assèts less curr•nt liabllltles 981,181 889,874 Income funds Restricted funds Unrestricted funds 219,500 761,681 221,858 668,016 981,181 889,874 The company is entitled lo the exemption from the audit requirement conlained in section 477 of the Companies Act 2006, for the year ended 31 October 2024. The directors acknowledge their responsibilities for comptying with the requirements of the Companies Act 2006 wtth respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial slalements have been prepared in accordance wrth the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 25 June 2025 Mr P Walker Trustee Company registration number 03968279
WOLSINGHAM AND WEAR VALLEY AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting policles Charity Inforniation Wolsingham and Wear Valley Agricultural Society is a private company limited by guarantee incorporated in England and Wales. The registered office is 5 Henson Close, South Church Enterprise Park, Bishop Auckland, Co Durham. DL14 6WA. 1.1 A¢countlng ¢onvention The financial statements have been prepared in accordance wtlh the charity's governing document, the Companies Act 2006, FRS 102 -The Finanual Reporting Standard applicable in the UK and Republic of Ireland. ('FRS 102.) and the Chariti'es SORP "Accounting and Reporting by Charitiès. Statement of Recommended Practi applicable lo charities prepanng their accounts in accordance with the Financial Reporting Standard applic4ble in the UK and Republic of Ireland {FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Enty as defined by FRS 102. The charity has taken advantsge of the provisions in the SORP for Charities not to prepar8 a Statement of Cash Flows. The financial statements are prepared in sterling. which is the functional currency of the charty. Monetary 8mounts in thes8 financial statements are rounded to the n8are$t £. The financial statements have beèn prepared under the historical cost convention, modified to indude the revaluation of cértain instruments at fair value. The principal arLounting policies adopted are set out below. 1.2 Golng concem At the time of approving the finanrial statements, the Trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for Ihe foreseeable future. Thus the Trustees continu8 to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestncted funds are available for use at the discretion of the TTUStees in furtherance of their charitable objectives. Restricted funds are subject to specffic conditions by donors or grantors as to how they may bè used. The purposes and uses of the restricted funds are set out in the notes to Ihe financial statements. Endowment funds are subj.ect to specific conditions by donors that the capiial must be maintained by the charity. 1A Income Income is recognised when the chaiity is legally enlitled to it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charty has been notified of Ihe donation, unless performance conditions require deferral of Ihe amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at Ihe time of the donation. Legacies are recognised on receipt or otherwise rf the charrty has been notified of an impending dislribution, the amount is known, and reIpt is expected. If the amount is not known. the legacy is treated as a contingent asset.
WOLSINGHAM AND WEAR VALLEY AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlemenl, and the amount of Ihe obligation can be measured reliably. Expenditure is classified by actmty. The cgsts of each activty are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activrty. Direct costs attributable to a single activity are allocated directly to that activity. Shared Ca)Sts which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned betsveen those activities on a basis consislent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the assefs use. 1.6 Tangible fixed assets Tangible fixed assets are inttialty measured at cost and subsequentty measured at cost or valuation. net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases= Freehold land and buildings Show equipment IT equipment 4% straight line 150k reducFng balance 15% reduung balance The gain or loss arising on the disposal of an asset is determined as the dIfFeren beeen the sale proceeds and the carrying value of the asset, and is CogniSed in the ststement of financial activities. 1.7 Impairment of fixed assets At each reporting end date, the charrty rewews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indicalion exists, the recoverable amount of the assel is estimated in order to determine the extent of the impainnenl loss (rf any). 1.8 Cash and cash equlvalents Cash and cash equivalents include tssh in hand, depostls held at call with banks. other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown wilhin borrowings in current liabilits'es. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financ1 instruments. Financial instruments are reox)gnised in the charivs balance sheet when the charty becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. wrth the net amounts presented in the financial stslements, when there is a legalty enforceable right to sel off the recognised amounts and there is an intention to settle on a net basis or lo realise the asset and settle the liabilrty simultaneously.
WOLSINGHAMAND WEAR VALLEY AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting policies {Continuod) Inancial assets Basic financial assets, which include deblors and cash and bank balances, are initially measured at transadion price including Iransa¢tion costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the Iransaclion is measured at the present value of the fulure rec*ipts discounted at a market rate of interest. Financial assets classified as receivable wrthin one year are not arno"Sed. Basic financial liabilitles Basic financial liabilrties. induding creditors and bank loans are initially recognised at transacb.on price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amorts'sed. Trade creditors are obligations to pay for goods or ServIS that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due wilhin one year or less. If not. they are presented as notFcurrent liabiltties. Trade creditors are recognised initially at transaction price and subsequentty measured at amortised cost using the effective interest method. Critical aeeounting estimates and judgements In the application of the charty's accounting policies. the Trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may dtffer from these estimates. The estimates and Ltndertying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the èstimate is revised where the revision affects only that period. or in the period of the revision and futu periods where the rewsion affects both current and future periods. Company limited by guarantee The company is limited by guarantee, there being no share captlal. and as sueh is not controlled by any one person but by the board of trustees as a whole. At 31 October 2024 there were 8 trustees each of whom had undertaken to contribute an amount not exceeding £1 in the event of a winding up. Donations and legacies Unrestricted Unrestricted funds funds 2024 2023 Donations and gifis Membership Grants re1vable Sponsorship 2,630 17,757 1,893 24,947 18,878 3,470 35,235 57.583 47.227
WOLSINGHAM AND WEAR VALLEY AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Donations and logaciès Icontlnued) Grnnts recelvable for core activities Department for the environment and Nral actiiAties 3,470 1,893 3,470 1,893 Incomo from othèr trdding activftles Unre8tricted Unrestricted funds funds 2024 2023 Gate receipts Entry fees Fundraising events Tradestands and franthises Race cards and adverts Returned prize money other trading actwity 164,858 23,179 2.891 82,159 5,590 1,773 2,748 218,208 21,264 297 82,179 6,401 2,159 3,157 Other trading activrties 283,198 333,665 Invè8trnents Unrestrlctsd Unrestricted funds funds 2024 2023 Bam rental income Interest receivable 42,890 19.793 46,095 7,260 62,683 53,355 10-
WOLSINGHAM AND WEAR VALLEY AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Expenditure on charitable activities AgricUlra1 Agrfcultural show show 2024 2023 Dlrect costs Depreciation and impalmient Show day ¢osls Judges expenses Affiliation fees 18,896 132,520 2,807 18,870 116,412 3,130 1,471 L li Printing and advertising Show sit8 Costs Attractions Prize money Field & building repairs Social event expenses Bank charges & interest Other show Costs Donations given to other charities 28,839 20,243 14.986 38.824 19,062 1,702 33,170 17,698 23,793 34,785 35,999 969 250 282.129 286,547 Share of support and governance costs (see note 8) Govemance 29,990 25,640 312,119 312,187 Analysis by fund Unrestricted funds Restricted funds 309,761 2,358 309,829 2,358 312,119 312,187 Support costs allocated to actlvilles 2024 2023 Governan o)sts 29,990 25,640 Analysed between: Agricultural show 29,990 25,640 11
WOLSINGHAMAND WEAR VALLEY AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Other Unrestricted Unrestricted fund8 funds 2024 2023 Investment management fee 892 892 10 Net movement in funds 2024 2023 The net movement in funds is stated after thargingl(credrting)'. Fees payable for the independent examination of the charivs financial statements Depreciation of owned tangible fixed assets 900 18.896 900 18,870 11 Tru8tees Mr l Ross, trustee received remuneration totalling £7,500 (2023.. £7.552) on behalf of his role as the charity's bookkeeper and acting secretary. The tnjstees are salisfied they are the best person for the job. No remuneration or other beneffts from employment with the charity or a related entity were recelved by the other trustees. Expenses relating to personal compuler costs totaling £88 (2023.. £160) were reimbursed so that the trustee could carry out his duties. 12 Employe The average monthty number of employees during the year was.. 2024 Number 2023 Number Employment costs 2024 2023 Wages and salaries 10,419 24,410 10,419 24.410 There were no employees whose annual remuneration was more than £60,CKKJ. 13 Taxation The charity is exempt from taxakn'on on its acttvities because all rts income is applied for charFtable purposes. 12_
WOLSINGHAM AND WEAR VALLEY AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 14 Tangible fixad aÈsets Frtshold land and buildlngs Show IT •qulpm•nt equipment Total Cost At 1 November 2023 Additions 425,772 10,000 86,170 195 2,595 514,537 10.195 At 31 October 2024 435,772 86.365 2,595 524,732 Depreclatlon and Impalmient At 1 November 2023 Depreciation charged in the year 65,701 9,463 25.546 9.101 381 332 91,628 18,896 At 31 October 2024 75,164 34,647 713 110,524 Carying amount At 31 October 2024 360,608 51,718 1,882 414,208 At 31 October 2023 360,071 60,624 2,214 422,909 Additional assets held and used by the company but written off in full in the financial statements include Secretary's caravan office. Trophies, Show equipment, offi furniture, Storage containers, Personal computer and planning fees. 16 Debtorn 2024 2023 Amounts falllng due wlthln one yoar. Tradè debtors Other debtors Prepayments and accrued income 14,510 1,056 80 3,925 1,056 198 15.646 5,179 16 Current as8et Investments 2024 2023 Deposrt acr))unts 340,054 245,109 13-
WOLSINGHAM AND WEAR VALLEY AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 17 Creditorn: amourbts falling duè within ono year 2024 2023 other taxation and social securty Trade creditors Other creditors Accruals and deferred income 125 3,639 3,000 12,712 203 1,017 3,000 1.450 19,476 5,670 18 Re$trlcted funds The restricted funds of the charity MprIse the unexpended balances of donations and grants held on trust subject lo specific conditions by donors as to how they may be used. At1 November 2023 Resource8 At 31 Octobor expended 2024 Freehold land Amenity building fvnd Durham county council 178,989 35,369 178,989 33,011 7,500 (2,358) 221,858 (2,358) 219,500 Previous year: Resources At 31 October expèndèd 2023 Novembor 2022 Freehold land Amenity building fund Durham county C£Juncil 178.989 37,727 178,989 35.369 7,500 {2,358) 224,216 (2,358) 221,858 Freehold land represents the showground land and buildings held by the charity. Amenities Building Fund represents the grants, raffles and donations received towards building the new amenity building in 2014. Durham County Council represents funding provided towards the cost of developing the car park. 14-
WOLSINGHAM AND WEAR VALLEY AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 19 Unréstricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for speriC purposes. Incoming resources Resources At 31 October expended 2024 November 2023 General fvnds 668,016 403,464 (309,799) 761,681 Provlou• yoar. Atl November 2022 Incomlng resourcès Rèsourcos At 31 October expended 2023 General funds 544,490 434,247 (310,721) 688.016 20 Analysls of net assets between funds Unrestrlcted fund8 2024 Restrlcted fund8 2024 Totsl 2024 At 31 October 2024: Tangible assets Current assetsl(liabilitie8) 194,708 566.973 219.500 414.208 566,973 761,681 219,500 981,181 Unrestrlcted funds 2023 Re8trl¢ted funds 2023 Total 2023 At 31 October 2023: Tangible assets Current a&8elsl(liabilities) 201.051 466.965 221,858 422.909 466,965 668.016 221.858 889,874 21 Related party transactions Transactions with related parties During the year the Gharity entered into the following transactions with related parties: 15-
WOLSINGHAM AND WEAR VALLEY AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 21 Related party trangaetlons (Continued) Payments totslling £1,779 (2023.. £2,900) were made to David Briggs Plant Hire in respect of plant hire & construction seNices prFor to his resignation as a trustee. Mr D Briggs. Trustee (resigned 30 July 2024), is the proprietor of David Briggs Plant Hire. At the date of his resignation there were no amounts outstanding belween the charity and David Briggs Plant Hi. Payments totaling £7,333 (2023.. £7,200) were made to Mr S W Pyboume in respect of grounds keeping work on the srte during the year. Mr S W Pybourne, is the son of Mr G Pyboume, Twstee. At 31 October 2024 there werè no amounts outstanding behveen tha chanty and Mr S W Pyboume. 16-