Charity registration number 1084349 Company regi8tration number 04102052 IEnglaThd and Wales) THE THAME AND OXFORDSHIRE COUNTY AGRICULTURAL ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 PAGES FOR FILING WITH REGISTRAR THE THAME AND OXFORDSHIRE COUNTY AGRICULTURAL ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrsAJ CAbrahams Mr J G Baker Mr M H D Barlow Mr D W Brethartan MrRJCarr MrJADuffy MrHJEast MrJ Howoft Mrs K Johnson CllrA Midwinter Mrs A M Murray Mrw A Nixey MrH J Ovèn$ MrASRead Sècrntary Mr D W Brelherton charlty number 1084349 Company number 04102052 Reglstered office 30 Uppèr High Street Thame Oxfordshire OX9 3EZ Ind•p&ndènt oxamlnor Richardsons 30 Upper High Street Tham8 Oxfordshi OX9 3EZ THE THAME AND OXFORDSHIRE COUNTY AGRICULTURAL ASSOCIATION CONTENTS Page Tru$tee$' report Independent examinerfs report Statement of financial actlvities Balance sh881 Notes to the finandal statements 7-12 THE THAME AND OXFORDSHIRE COUNTY AGRICULTURAL ASSOCIATION TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees present their annual report and finan¢i81 statements for the year ended 31 December 2022. Thé financial statements have been prepared in accordance vllh the accounting policAes set out in note 1 to the fin8n¢i81 ststements and comply with the charitys Memorandum and Articles of Association, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommèndèd Practi￿ applicable to charities preparing their accounts in accordance with the Financial Reporting SlarKlard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods ¢0￿Men¢lng from 1 January 20161 Oblectlves and actlvltles The charity's obleetives are the encouragement of agiTcutture generally. This includes further 8dueatK)n and Improvement in the care and breedSng of all agricultural livestock, domesbc animals. produce, pets and hortieulbJrÈ. The trustee8 are oon8cious of the ne8d to 8n5ur8 that thè charity's aims an(J a￿lOn$ conunue to serve the promutrtin of agrieulture and hortleulture and the advancement of education in those industries for th8 public benefit. The Iru51ees have paid due regard lo gtjidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements aftd perftsmiartct 2022 was a more slab5e year lor the As50cialion as the Country Teturned to a more slable'posl Covid. position and our regular hirers were able lo hold their events at the nomial time of the year and people were prepared to attend gv&nls'socially with Igss rgslrictions and ¢onlrol8. The Easter Thame Country Show" org8nised by Living Heritage took pla¢è over its nomal Easlgr Weèkènd and the weather was retatively kind, which then means that the￿ is minimal damage to the Showground. Beyond Ihls point we had very little rain and so ihe grass grew very slowly, lo the extent that the normal Silage crop removed by our fa¥ming neighbour failed to materialise and we incurred mowingl topping charges in Septernber to prepare the site for use by thè Dog Show and Food Festival. The Annual Sheep FaiT, organised by The Thame Famiers Auctitsn Mart Ltd went ahead and, they wèr8 abl6 to allow additional visitors to site which gave everyone Ihe chance lo rneel and discuss trade and harve51 matters more infomially. The use of thg Showground by Chinnor Rugby Club w8s inlemittenl in th9 Winter due to wet wèalhèr and èlso Frost. Durfng the year the declsion was tBken to empty the Bgm on $￿e that we have had use of for storage of slgnago and other Equipment and r61e859 this back to the Rugby Club lor ctsnversion to use as a "Men's Shed" In r8tum we have Ihe use of a container to store a residu818mount of stock. much of thè signage was old and now irrelevant and was disposed ol. The remaining equipment is loaned from time to time to Showground users and Somè Is also uaéd by th8 org8ni$èrs of thé Boargtall Fètè and Otmoor Challangè. Financlal rèvl•w The 2022 year wa5 profitable thanks to b61ng able tt) host varlous events during the year, the Association is limrted in lust how many events it ¢an run b8¢au$e of the lack of infrastructure In terms ol intemal roadsl Iracks and powerl waterl facilits'es. If the weather is kind then there is minimal damage, il however we h8Vé a wèt pèriod thèn the sèt up, event and take down darnage is signrficant and long lasting. this then means that subsequent events may suffer. As a rosult wa cannot aCt￿elY market the Showground for regular use In its current form. Givèn that wè havè managad lo m8kè a profit and clè8r past overhe8ds then the Association deaded to award £500 each to the Bucks Young Famiers Club and also to the Oxlordshire YoLsng Famers Club in 2023. The loan of £4,893 was also r&pald to Andrew Duffy during the year. The Agreement over the telecoms mast is not yet confimied, but Heads of Terms have been i58U9<1, thgre wlll be a one olf payment from the telecoms company but a much lower annual renl, unk)rtunataly. The Tru8te98 continue to 8xplore alternative u8es for the Show9found sit8. THE THAME AND OXFORDSHIRE COUNTY AGRICULTURAL ASSOCIATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Resep4e Pollcy and Risk Managemgnt The Trustee5 have a duty lo identify and review the risks to which the Charity is exposed and to ensure thal appropriate controls are in place lo prowde reasonable assur8n¢¢ against fraud and error. The Charity was established to promotè and ancourage Agricullure generally, it 8thieves this by making rfcs land available for equestrian, agrfcullural and Nral actIv￿e$ Includlng hosting a majorAnnual Sheep Fair run by th& local Aucl¢on Mart. In ovr current stsle thg Association should havo no trading risk. minimal expendrture 8nd bo abl8 lo show a small profil year on ye8r so lorhg as th8ra is not too much nKsney spent on maintenance and w8 do not get involved in supporting events that cannol be run profitsbly. The relian￿ on annual outdotsr events for the sole Sou￿￿ of our income is a constsnl challenge. Our regular income from Thame Famers Auction Mart may also ceas8 once thèy build iheir new site as thelr intention is to be sell- contsin¢d If at all possible. An allernalive regular income stream from the Showground would offer additional securty. The balance sheet shows a historical valuation of the Showground, it's true market value may well exceed that and the Association and it's Officeholder5 (who are governed by the ChBrity Commission) needs to constantly bear in mind a duty io make the most of ils assets where it Structure, governance and management The charity is 8 company limited by guarantee, registration number 04102052, Charity numbgr 1084349. The charity was estsbli5hed on 3 Nov9mber 2000 under a Memorandum of Association delineating the objects and powers of the Charitable Company and is goveme(l under its Articles olAssocJatiOn. Th8 trustees. Trfvhts are also the directors for the purpose of company law, and who served during the year and up to the dale of Signatu￿ ofthe financlal statements were.. MrsAJ CAbrah8ms Mr J G Baker Mr M H D Barlow Mr D W Bretherton MrRJCarr MrJADufy MrHJEast Mr J Hopcroft Mrs K Johnson CllrA Midwinter Mrts A M Murray Mr W A Nixey Mr H J Ovens MrAS Read Trustees are appointed 8t thg Annual G&noral Meetlng of the Company and WTII 8erv8 a mlnimum term of Ihree years. At each AGM tho lonuest seNing officers wlll automatically retir8. Trust888 can offèr themselves to be r lected. There is currently no maximum numb8r of tru5tee5 but at all tlmes there must be a minimum of two. Historically the Trustees have typically been active show sectic>n lead8rs 88 wèll as current and past Presidents and Victs Presldent. The Trustees receive no rernuneration for their work. None irfthè trustèès has any beneficial interest in the company. All of tho trustaas aro members of the company and guarant89 to contribut8 £1 in the event of a winding up. THE THAME AND OXFORDSHIRE COUNTY AGRICULTURAL ASSOCIATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees, report was approved by the B08Td of Trustees. MrJADuffy Trusteg Date.. THE THAME AND OXFORDSHIRE COUNTY AGRICULTURAL ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE THAMEAND OXFORDSHIRE COUNTY AGRICULTURAL ASSOCIATION I report to the trustees on my examination of the financial 3tatemènts of The Thame And Oxfordshire C¢unty Agricullural Association Ithe charityl for the year ended 31 December 2022. Responslbllltles and basis of report As the tpJsl888 of the charity land alsts ils dirgctors for the purpos8$ of company lawl you are responsible for the preparatlon ol the financlal statements in accordance with the requirem8nt5 of the Companies Act 2006 (the 2006 Act). Having satisf ed myself that the flnancSal statemenis ol the charity are not requir8d to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in rfyspect of my examination of the ch8ri1ls financial statements ca¥ried out under se¢tton 145 of the Charities Act 2011 Itha 2011 Acll. In carrying out my examination I have followed all the applicablg Dir8cti()ns given by the Charity Commis5itsn under s8cb.on 14515llbl of the 2011 Act. Independ•nt •xamin•rfs statement I have completed my examination. I confirrn that no tnatt8rs hava come to my attention in connection with Ihg 8xamination giving me cause to believe that in any matorial re5Pert'. accounting records were nol kept in rÈ8pect of th8 eh8rity Ès required by section 386 of the 2006 Aet. or the financial stat8ments do ntst accord with those records., or the finanoal stalements do not comply with the accounting requirements of section 396 of thé 2006 Act other than any requirement that the aecounts glve a true and falr vlew which is not a rnatter considered as part of an independent examlnatlon., or the financial statements have TKIt begn prep8r8d in accordanco with the method$ and prinCip￿S of the statement of Recommended Pr8cts¢8 lor accounting and reports'ng by charities applicable to etharities epèring their accounts in accordance with the Financial Roporting Standard applicable in the UK and Republic of Ireland {FRS 1021. I have no concems and have come a¢ross no other matters In connection with the exarrinalion to which attention should bè drawn in this report in order lo enable a proper understanding ol the financial ststemenls lo be reached. Jemirna King Richardsons 30 Uppèr High Street Thamè Oxfordshi OX9 3EZ Dated.. THE THAME AND OXFORDSHIRE COUNTY AGRICULTURAL ASSOCIATION STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestrict¢d Unre8trict¢d funds funds 2022 2021 Notes Income and endowments from: Charitrble a¢livi1Ses Other income 26,188 26 20.778 Total Incom* 26,214 20,778 Ex ondlturè on: Charitable activities 10.124 5.947 Oth8r 1,659 Total expenditure 10,124 7,606 Not Income for the yearl Net movement In funds 16,090 13.172 Fund balances at 1 January 2022 254,717 241.545 Fund balances at 31 December 2022 270,807 254.717 The statement of financial activlties includes all gains and losses recognl3ed in the year. All income and expenditure derfve from continuing activities. The statement of rtnancial actNities also complies ￿th the requirements for an Income and expenditure account under th& Companiès Act 2006. THE THAME AND OXFORDSHIRE COUNTY AGRICULTURAL ASSOCIATION BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Not•s Fix•d assets Tangible assets 225.159 225,910 Currant a5$ets Cash at bank and In hand 47,748 35,540 Creditors= amounts falllng due wlthln one yaar 12,1001 16.7331 Net current a&sels 45,648 28,807 Total assets less current liabilities 270,807 254,717 Ineome funds Unrestricted funds 270.807 254,717 270.807 254.717 The company is entitled io the exemption from the audit requirement contsined in section 477 of the Companies Act 2006, for the year ended 31 December 2022. The directOTS acknowledge their responsibilities for comptying with the requirements of the Companies Act 2006 with respect to accounting record5 and the preparation of financial statements. The members have not required the fA)mpany to obtain an audit of its financial statements lor the year in question Di aecordanee with section 476. Th88e financial statements have been prepared and delivered in accordance wlh the provisions appllcable to companies subject to the small companies regime. The financial statements were approved by the Trustees on ......................... MrJADufy Trusteo Company ragistratlon number 04102052 THE THAME AND OXFORDSHIRE COUNTY AGRICULTURAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting poSicles Charity informatÉon Th8 Tham8 And Oxfordshire Counly Agricullural Association is a private eompany limtled by guarantee incorporated in England and Wales. The regislergd office is 30 Upper High Street, Thame, Oxford8hire, OX9 3EZ. 1.1 A¢ceuDtlng conventlon The financial statements havè been pr6parèd in a¢cordanc8 with thg ch8rity's Mernor8n(Sum and Articles of Association, th6 Companies Aet 2006 and 'A¢counting and Reporting by Charities.. Statement of Rectsmmended Pracb"¢e 8ppli¢able lo Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in thg UK and Republic of Ireland IFRS 1021° 12s amendèd for accounlln9 periods commencing from 1 January 20161. The charity 15 a Public Benefit Entity as defined by FRS 102. The charity has takan advantaga of thé provisions in tho SORP lor charities apptylng FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial 3tal8ments are prepared in sterfing. which is Ihe functional currency of thg tharity- Monetary 8movnts in these financial statements afe rounded to the nearest £. The financial statements hav6 beèn prepared under the historical cost convention, modthed to include the revaluation ol freèhold properti&5 and lo include investment properties and certain linandal Inslmments al falr value. The principal acc4unts.ng polldes adoptèd are set out below. 12 Golng concern At the lime ol approving the financial statements, th8 trustees have a reasonable expectation that the charity has adequate resources to continuè in operational existence for the foreseeable future. Thus tho trust8è$ continue to adopt the going concèm basis of ac￿u￿ting in preparing the financial statements. 1.3 Charitable fvnds Unrestricted funds are availablo for usg al Ihe discretion of the trustees in bjrtherance of their charitabl L*)jectives. Restricted funds are subject to speofic conditions by donors as to how they may be used. The purpo58s arKJ uses ol the restricted fvnds are S8t out in th8 notes to the financial statements. Endowment lunds are subject to specffic conditions by donor8 that tho capital must be maintained by the charity. 1.4 Incomlng re$our¢g5 Incoming resources ale amounts Invol￿d to third parties and represent the total value of $8les invoices. together with admission r8ceipt5, entri8s and membership. and relate wholly to the continuing prin¢ipal activity in the United Kingdom. Subscriptions for life membership are accounted for in the Poriod in which Ihey a received. The value of services provided by volunt88rs has not been included. 1.5 Resources expendod ExpenditLJre Is 8c¢tsunl$d for on an accruals basis and has been dassilied under headings that aggregate all cost related to the category. Where costs cannot be direcly aitribuied to particular heodings they have been aifocated to a¢tiviti85 on a basis consistent with the use of resources. THE THAME AND OXFORDSHIRE COUNTY AGRICULTURAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollcle8 (Continued) 1.6 Tangible fixed a¥gets Tangible fixed assets a￿ Snitially measured at cost and subseqttenlly measured at cost er valu8tlon, net of depreciation and any Impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual v8luÈs over their useful lives on the followlng bases.. Freehold property Ground improvement5 Trophies Offic8 and show 8quipm8nt No depreciation No depreclation No depreciation 15% to 300h. reducing balance basis The gain or loss arislng on the dlsposal of an asset is detemiined as th8 difference be￿een th& sale proceeds and the carrying value of the asset, and is recognised in the statement of financial a¢tivitie5. No depreciation is provided on freehold property, ground improvements or trophies. 11 is the company's policy to maintain the land and property in such condition that the value as a whole is not impaired by the passage of tlme. Trophies are included at an insurance valuation carried out in October 1998 by R G81ward Limited, registered valuer. R GaNvard Limited is an unrelated external party. Any alement of depreclation would, in the opinlon of the directors, be immaterial. 1.7 Impalrment of fixed ass•ts Al each reporting end date, the charity reviews the carying amounts of its tangible assets to detemilne whether there is any indicalion that thos6 assèis hav8 suffered an impaimi8nt loss. If any such indication exists. thè rectsverable amount of thè asset is estimated in order to determine the extent of thè impairment loss Ilf any). 1.8 C8sh and cash èqulvalènt$ Cash and cash equivalents indude cash in hand, rleposits held at call with banks, tslher short-term liquid investments with original maturities of three months or less. and bank overdrafts. 8ank overdrafts are shown within btrrrowings in Gurrent li4bililie$. Ba$1¢ financSal assets Ba8ic financial assets, which include debtors and cash and bank balances, are initially measure(l at Irdns8Ction price including transaction costs and are subseouendy carried at amortisecl cosl uslng ihe effe¢lSve interest method unless the arrangement conslitules a financing Iransacts'on. where the transaction is measure