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← The Denbighshire And Flintshire Agricultural Society Limited

2024-12-31-accounts

Charity registration number 1087311

Company registration number 4141939 (England and Wales)

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Lt Col J Eyton-Jones Mr T Morgan M.B.E. Mrs E M Rees Mrs C M Rudman Mr C Spencer Mr G Roberts Mr E E Hughes Mrs L Lloyd Williams Mr K Walker

(Appointed 1 December 2024)

(Appointed 13 March 2024) (Appointed 13 March 2024) (Appointed 13 March 2024) (Appointed 13 March 2024)

Senior management

Mrs C M Rudman Mr C Spencer Mr K Walker Mrs C J Griffiths Mr C Owen

President Chairman Vice-chairman Hon. Treasurer Showyard Director

Charity number

Charity number 1087311 Company number 4141939

Registered office

Unit 1 Speddyd Rural Business Units Llandyrnog Denbigh Denbighshire Wales LL16 4LE

Independent examiner

Christopher Henderson BSc FCA Unit 32, Llys Edmund Prys St Asaph Business Park St Asaph Denbighshire LL17 0JA

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

CONTENTS

Page
Chairman's statement 1 - 2
Trustees' report 3 - 4
Statement of trustees' responsibilities 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 19

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

CHAIRMAN'S STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

It is a great pleasure for me to sit at the end of March like this, and put a few words together to crystallise the past year for us in terms of the Denbigh and Flint Show.

Before talking about the Show itself, we have to pay tribute to Mr Idris Hughes who was the Society's Treasurer for more than 30 years. When the Society loses someone like Idris, it becomes apparent how important these people have been, and how important it it for us, as those who come after to carry the baton for a little while to pass it on to those who come after us. Our deepest condolences go out to Mr Hughes' family.

How lucky we were as a Society to have a nice, sunny day for the Show in 2024. Rain was the story for many places across North Wales on this day, so we much be on good terms with him Upstairs, because the sun was shining on our little piece of land in the Vale of Clwyd Valley, and thanks be for that.

As I say every year, rain or shine, the Show happens because a team of dedicated people who pull together and work hoard to ensure a strong foundation for our annual special day. Our thanks go to Nicky, our Co-ordinator, for managing to keep us all organised. Joining the team this year is our new treasurer, Jane Griffiths. Welcome and all the best to Jane - I'm sure that you'll fit in great.

Administratively, the Association has settled in the office in Llandyrnog for around 18 months now, and there's a warm welcome to pop in for a paned with Nicky at any opportunity.

Mrs Carol Rudman was out President for the past year. I would like to take this opportunity to thank her and congratulate her on a very busy and successful year. Ms Jane Davies is this year's President-Elect, and I know she will also bring her own unique contribution to the job - good luck Jane.

I was asked the other day if arrangements for this year's show have started. The answer is that is that they NEVER stop! Organising the Show is an ongoing matter, and many of the arrangements for the 21st of August, 2025 have to be in place for a while, in order to be able to welcome the public in their thousands to The Green once again.

I am personally grateful to the Griffiths Family, Plas Newydd, Trefnant, our landlord, for working with us in preparing the fields to the best possible standard for the Show, Thanks also to Carl and his team who prepare and set up the fields for the Show.

Otherwise, no matter how big for small the contribution, thank you to everyone for their willing dedication to the success of the Show. if you know of anyone else who has a contribution to make, please let the office know.

Hwyl am y tro

CS

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Mae'n bleser mawr gen i estedd ar ddechrau Mis Mawrth fel hyn, i roi rhyw'chydid o eiriau at ei gilydd i grisialu'r flwyddyn ddiwethaf'ma i ni o ran Sioe Dinbych a Fflint.

Cyn son am y Sioe ei hun. mae'n rhaid i ni dalu teyrnged i Mr Idris Hughes, a fu'n Drysorydd i'r Gymdeithas am dros 30 mlynedd. Pan mae'r Gwymdeithas yn colli rhywun fel Idris, mae'n bosib gweld pa mor bwysig ydi'r bobl 'ma wedi bod, a pha mor bwysig ydi hi i ni, fel y rhai sy'n dod ar eu holau nhw i gario'r baton am 'chydig i'w basio ymlaen i'r rhai sy'n dod ar ein holau ni. Maen's cydymdeimlad dwysaf hefo teulu Mr Hughes.

Lwcus iawn oeddem ni fel Cymdeithas i gael diwrnod braf i'r Sioe yn 2024. Glaw oedd hanes llawer o lefydd ar draws Gogledd Cymru ar y diwrnod yma, felly mae'n rhaid ein bod ni ar delerau da hefo'r Bod Mawr, oherwydd yr haul oedd yn gwenu ar ein darn bach ni or dir yn Nyffryn Clwyd, a diolch am hynny.

Fel Dwi'n son bob blywddyn, haul neu law, mae'r Sioe yn didwydd oherwydd tim o bobl ymroddedig sydd yn tynnu at ei gilydd ac yn gweithio'n galed i sicrhau sylfaen gref i'n diwrnod blynyddol arbennigni. Mae ein diolch ni i Nicky, ein Cydlynydd, yn enfawr am lwyddo i gadw trefn arnom ni i gyd. Yn ymuno a'r tim eleni mae ein trysorydd newydd, sef Jane Griffiths. Croeso a phob dymunaid da i ti Jane - 'dwi'n siwr y byddi di'n ffitio i mewn yn gret.

Yn weinyddol, mae'r Gymdeithas wedi ymgartreuf yn y swyddfa yn Llandyrnog ers tua blwyddyn a hanner erbyn hyn, ac mae croeso braf i alw i mewn am baned hefo Nicky are unrhyw gyfle. Mrs Carol Rudman oedd ein Llywydd am y flwyddyn a fu. Hoffwn gymryd y cyfle yma i ddiolch iddi hi a'i llongyfarch ar flwyddyn brysur a llwyddiannus iawn. Ms Jane Davies ydi'n Llwydyy Etholedig eleni, a dwi'n gwybod y daw hithau hefyd hefo'i chyfraniad unigryw ei hun i'r swydd - pob lwc Jane.

Gofynnwyd i mi'r diwrnod o'r blean os ydi'r trefniadau ar gyfer y Sion eleni wedi dechrau. Yr ateb i hynny ydi nad ydyn nhw BYTH yn stopio! Mae trefnu'r Sion yn fater parhaus, a llawer o'r trefniadau ar gyfer y 21 o Awst 2025 yn gorfod bod yn eu lle ers tro, er mwyn gallu croesawu'r cyhoedd yn eu miloedd i'r Green unwaith eto.

Rwyf yn bersonol ddiolchgar i'r Teulu Griffiths, Plas Newydd, Trefnant, ein landlord, am weithio hefo ni yn paratoi'r caeau i'r safon gorau posib ar gyfer Y Sioe. Diolch hefyd i Carl a'i dim sydd yn paratoi a gosod y caeau are gyfer y Sioe.

Fel arall, dim ots pa mor fach neu fawr yw'r cyfraniad, diolch i bawb am eu hymroddiad parod i lwyddiant Y Sioe. Os gwyddoch chi am rhwrai eraill sydd a chyfraniad i'w wneud, cofiwch roi gwybod i'r swyddfa.

Hwyl am y tro

CS

Clwyd Spencer Chairman

Date: 31 March 2025

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their annual report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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

The objects are to promote, improve and encourage agriculture and horticulture. The policies adopted in furtherance of these objects are education, scientific research, experimental work and the holding of shows and there has been no change in these during the year.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Activities

Ensuring our work delivers our aims

The aims, objectives and activities of the company are reviews each year. This review looks at what has been achieved over the last year, how the activities have succeeded in achieving the objectives of the company. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning future activities.

Achievements and performance

Significant activities and achievements against objectives

A review of the activities and achievements can be found in the Chairmans statement.

Financial review

The net movement in funds for the year shows an overall deficit of £16,072 (2023 - £5,872 surplus).

Principal Funding Sources - the principal funding source for the company is the income generated by the annual show. During the year the charity sold its property. The board of Directors has considered the most appropriate policy for investing the funds and considers the return on the investments to be satisfactory. As the 2020 and 2021 shows couldn't be held due to Covid restrictions, there was not the usual level of income, but the show still incurred significant expenditure. The recent economic climate and the increasing constraints on local authority and commercial expenditure has made this even more difficult.

Reserves policy

The directors have examined the company's requirements for reserves in light of the main risks to the organisation. Whilst of the view that current reserves are sufficient to meet the Society's normal expenditure, the directors also believe a higher level of reserves would be preferred, and will look to address the issue formally during the coming year, even though recognising that achieving the desired level may take a number of years.

Structure, governance and management

The charity is a company limited by guarantee, and is a registered charity with the Charity Commission. The company was incorporated on 16 January 2001. In the event of the company being wound up, current members, and those that were members within the preceding twelve months, are required to contribute an amount not exceeding £10.

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees, who are also the directors for the purpose of company law and are known as members of the Management Committee who served during the year and up to the date of signature of the financial statements were:

(Resigned 21 February 2024) (Resigned 21 February 2024) (Resigned 21 February 2024) (Resigned 21 February 2024) (Resigned 21 February 2024)

Mr J B Bellis (Resigned 21 February 2024) Miss K Bellis (Resigned 21 February 2024) Mr R A Bletcher (Resigned 21 February 2024) Mr A Davies (Resigned 21 February 2024) Mr T E Edwards (Resigned 21 February 2024) Lt Col J Eyton-Jones Mr I O Hughes (Deceased 31 July 2024) Mr L Hulme (Resigned 21 February 2024) Mr T Morgan M.B.E. (Appointed 1 December 2024) Mr C D Owen (Resigned 21 February 2024) Mrs E M Rees Mrs F Roberts (Resigned 21 February 2024) Mrs C M Rudman Mr C Spencer Mr T H H Stephenson Mrs S Warner (Resigned 21 February 2024) Mr E W Williams (Resigned 21 February 2024) Mr T H Williams (Resigned 21 February 2024) Mr G Roberts (Appointed 13 March 2024) Mr E E Hughes (Appointed 13 March 2024) Mrs L Lloyd Williams (Appointed 13 March 2024) Mr K Walker (Appointed 13 March 2024)

Recruitment and appointment of trustees

Under the terms of the Memorandum and Articles, at the annual general meeting, Trustees/Directors are elected to serve for a period of three years, with one third of their number retiring each year. If the number of directors is not divisible by 3 , the number nearest to a third must retire. The Directors retire by rotation with those having served the longest retiring first. If directors were appointed at the same time, then the order of retirement shall be determined by lot. Any co-opted members of the board must stand for election at the first AGM after their Co-option.

The trustees' report was approved by the Board of Trustees/Directors.

Mr C Spencer Trustee

31 March 2025

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees, who are also the directors of The Denbighshire and Flintshire Agricultural Society Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

I report to the trustees on my examination of the financial statements of The Denbighshire and Flintshire Agricultural Society Limited (the charity) for the year ended 31 December 2024.

Responsibilities 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 the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 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 Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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 that in any material respect:

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 financial statements to be reached.

Christopher Henderson BSc FCA

Unit 32, Llys Edmund Prys St Asaph Business Park St Asaph Denbighshire LL17 0JA

Dated: 31 March 2025

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
3
57,610
-
Charitable activities
4
171,348
-
Other trading activities
5
22,737
-
Investments
6
3,470
-
Other income
7
7,878
-
Total income
263,043
-
Expenditure on:
Raising funds
8
13,545
-
Charitable activities
9
260,696
4,874
Total expenditure
274,241
4,874
Net income/(expenditure)
(11,198)
(4,874)
Transfers between
funds
(19)
19
Net movement in
funds
12
(11,217)
(4,855)
Reconciliation of funds:
Fund balances at 1 January
2024
174,990
4,855
Fund balances at 31
December 2024
163,773
-		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
57,610
62,842
-
171,348
191,252
-
22,737
7,567
-
3,470
2,929
-
7,878
-
-
263,043
264,590
-
13,545
2,179
-
265,570
255,828
711
279,115
258,007
711
(16,072)
6,583
(711)
-
-
-
(16,072)
6,583
(711)
179,845
168,407
5,566
163,773
174,990
4,855		 Total
2023
£
62,842
191,252
7,567
2,929
-
264,590
2,179
256,539
258,718
5,872
-
5,872
173,973
179,845

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024

Notes
Fixed assets
Tangible assets
16
Current assets
Stocks
17
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within
one year
19
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
21
Unrestricted funds
22		 2024
£
1,000
6,792
149,800
157,592
(5,098)		 £
11,279
152,494
163,773
-
163,773
163,773		 2023
£
1,551
20,939
41,233
63,723
(2,765)		 £
118,887
60,958
179,845
4,855
174,990
179,845

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with 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 statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 31 March 2025

Mr C Spencer Trustee

Company registration number 4141939 (England and Wales)

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

Charity information

The Denbighshire and Flintshire Agricultural Society Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 1, Speddyd Rural Business Units, Llandyrnog, Denbigh, Denbighshire, LL16 4LE, Wales.

1.1 Reporting period

The financial accounts presented are for a period of one year. The comparative period is for 15 months due to the charity extending it's year-end to tie into the calendar year in 2023. Therefore, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.5 Income

Income is recognised when the charity is legally entitled 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 charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Assets for distribution are recognised only when distributed. Assets given for use by the charity are recognised when receivable. Stocks of undistributed donated goods are not valued for balance sheet purposes.

1.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent 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 asset’s use.

The allocation of expenditure of the company is allocated between the various stated cost headings such that they fairly reflect the purpose for which they were incurred.

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently 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 Not depreciated
Show equipment 15% Reducing balance basis
Fixtures and fittings 15% Reducing balance basis
S/ground expenditure 15% Reducing balance basis
Trophies Not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews 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 indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits 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 within borrowings in current liabilities.

1.11 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 financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction 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 amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’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 differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 1,294 4,667
Membership fees 56,316 58,175
57,610 62,842
Grants
- -

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Show income
Gate receipts 68,389 87,083
Trade stand fees 65,502 64,688
Entry fees 34,743 35,335
Sundry receipts - Catalogue 2,714 4,146
171,348 191,252
5 Income from other trading activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising events - Ladies events 22,737 7,567
6 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Rental income 2,400 2,400
Interest receivable 1,070 529
3,470 2,929
7 Other income
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Net gain on disposal of tangible fixed assets - Office sale profit 7,878 -

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

8 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Other fundraising costs 13,545 2,179
9 Charitable activities
Depreciation and impairment
Hire of canvas, seating, steelwork, pens etc
Electric and water expenses
Contractors & Supplies
Showground rental
Hospitality
Attractions
Purchased goods
Advertising
Insurances
Printing and postage
Security
Other expenses
Prizes, rosettes, trophies and medals
Judges fees and expenses
Labour
Share of support costs (see note 11)
Analysis by fund
Unrestricted funds
Restricted funds		 Show
2024
£
1,886
67,007
12,259
20,303
14,600
4,203
4,821
4,874
1,487
3,010
8,503
4,741
683
25,016
6,500
15,500
195,393
70,177
265,570
260,696
4,874
265,570		 Show
2023
£
1,161
38,270
13,690
20,839
11,750
11,225
8,042
-
1,086
1,167
7,458
4,010
1,368
32,166
4,706
31,850
188,788
67,751
256,539
255,828
711
256,539

10 Description of charitable activities

Show

The holding of shows.

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

11
Support costs
Support
costs
Governance
costs
2024Support costs Governance
costs
£
£
£
£
£
Staff costs, including
employers NI and
pension costs
35,246
-
35,246
37,579
-
Operating lease charges
1,271
-
1,271
2,210
-
Rent, rates and electricity
7,120
-
7,120
1,954
-
Telephone
1,792
-
1,792
2,489
-
Office and general
expenses
6,720
-
6,720
6,000
-
Subscriptions
8,039
-
8,039
9,021
-
Repairs and renewals
892
-
892
1,115
-
Bank interest and
charges
3,996
-
3,996
2,652
-
Accountancy
4,650
-
4,650
2,560
-
Sundry expenses - bar
license
123
-
123
2,171
-
Staff Training
328
-
328
-
-
70,177
-
70,177
67,751
-
Analysed between
Charitable activities
70,177
-
70,177
67,751
-
12
Net movement in funds
2024
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
1,886
Profit on disposal of tangible fixed assets
(7,878)
Operating lease charges
1,271		 2023
£
37,579
2,210
1,954
2,489
6,000
9,021
1,115
2,652
2,560
2,171
-
67,751
67,751
2023
£
1,161
-
2,210

13 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

14 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
2 3

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

14
Employees
Employment costs
Wages and salaries
Other pension costs		 (Continued)
2024
2023
£
£
34,495
36,824
751
755
35,246
37,579		 (Continued)
2024
2023
£
£
34,495
36,824
751
755
35,246
37,579
37,579

There were no employees whose annual remuneration was more than £60,000.

15 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

16 Tangible fixed assets

Freehold land
and buildings
Show
equipment
Fixtures and
fittings
S/ground
expenditure
£
£
£
£
Cost
At 1 January 2024
111,715
10,178
4,740
20,517
Additions
-
-
1,808
4,186
Disposals
(111,715)
-
-
-
At 31 December 2024
-
10,178
6,548
24,703
Depreciation and
impairment
At 1 January 2024
-
5,887
4,512
18,457
Depreciation charged in the
year
-
644
305
937
At 31 December 2024
-
6,531
4,817
19,394
Carrying amount
At 31 December 2024
-
3,647
1,731
5,309
At 31 December 2023
111,715
4,292
228
2,060
Stocks
Stock of rosettes		 Trophies
£
592
-
-
592
-
-
-
592
592
2024
£
1,000		 Total
£
147,742
5,994
(111,715)
42,021
28,856
1,886
30,742
11,279
118,887
2023
£
1,551

17 Stocks

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

18
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
19
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Accruals and deferred income
20
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2024
£
-
5,900
892
6,792
2024
£
2,043
555
2,500
5,098
2024
£
751		 2023
£
926
7,681
12,332
20,939
2023
£
1,234
281
1,250
2,765
2023
£
755

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

21 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January Resources Transfers At 31
2024 expended December
2024
£ £ £ £
Clocaenog Grant 4,855 (4,874) 19 -

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

21 Restricted funds (Continued)
Previous Period: At 1 January Resources Transfers At 31
2023 expended December
2023
£ £ £ £
Clocaenog Grant 5,566 (711) - 4,855

Restricted funds

Clocaenog forest wind farm fund - Grant for pig pens,benches and signage.

22 Unrestricted 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 specific purposes.

At 1
General funds
Previous Period:
At 1
General funds		 January
2024
Incoming
resources
Resources
expended
Transfers
At 31
December
2024
£
£
£
£
£
174,990
263,043
(274,241)
(19)
163,773
January
2023
Incoming
resources
Resources
expended
Transfers
At 31
December
2023
£
£
£
£
£
168,407
264,590
(258,007)
-
174,990

23 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 December 2024:
Tangible assets
11,279
-
Current assets/(liabilities)
152,494
-
163,773
-		 Total
2024
£
11,279
152,494
163,773

THE DENBIGHSHIRE AND FLINTSHIRE AGRICULTURAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

23 Analysis of net assets between funds

Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 December 2023:
Tangible assets 118,887 - 118,887
Current assets/(liabilities) 56,103 4,855 60,958
174,990 4,855 179,845

24 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2024
£
1,271
3,178
4,449		 2023
£
1,271
4,449
5,720

25 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).