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← The Devon Federation Of Young Farmers Clubs

2020-08-31-accounts

DEVON FEDERATION OF YOUNG FARMERS' CLUBS ANNUAL REPORT | AND UNAUDITED FINANCIAL STATEMENTS : FOR THE YEAR ENDED 31 AUGUST 2020 |

Registered Charity No: 1098759 Registered Company No: 04699221

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« DEVON FEDERATION OF YOUNG FARMERS' CLUBS

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

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TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2020

REFERENCE AND ADMINISTRATION DETAILS

| Devon Federation of Young Farmers’ Clubs. |

NAME

REGISTERED CHARITY NUMBER Previously registered Charity Number 301029 incorporating the John Spear Memorial Fund Number 810146. Registered on 25 July 2003, Number 1098759.

The charity has been authorised by the Charity Commission to treat all of the above as being part of one charity called Devon Federation of Young Farmers’ Clubs.

REGISTERED COMPANY NUMBER 04699221. The body was incorporated under the Companies Act 1985 as a private company limited by guarantee on 17 March GOVERNING INSTRUMENT INSTRUMENT The Constitution of the Federation, along with the Memorandum and Articles of Association. TRUSTEES See pages 2 and 3 for details. |

GOVERNING INSTRUMENT INSTRUMENT

TRUSTEES

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TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2020

TRUSTEES of the Charity

Appointed by those Clubs affiliated to Devon Federation of Young Farmers’ Clubs.

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Appointed Autumn 2019 — to retire at 2020 AGM

Clifton Ford Owen Martyn Tom Latham Jack Routley Jess Parkhouse Lauren Woodman Charlie Trivett Jessica Atkins William Luke Thomas Stevens Amy Tope Ellis Sage David Leworthy Robin Bennett Johnny Cole Henry Greenhalf Duncan Wilmot Philip Smith Luke Shadrick Cameron Burt John Down Samuel Zeale Gareth Lee James Pearce Robert Hill Jack Moyse Alec Gillbard Ryan Battershall Rebekkah Hoskin Lucy Radford Agatha Jones Joshua Quant Thomas Westaway Colin Tucker William Ayre Daniel Olive Ellie Pincombe

Co-opted Trustees appointed by nomination with voting power

Group Representatives -

Laura Leé Charlotte Watts

Sam Thornton White Georgina Lethbridge

Victoria Gilbert Shelley Down

County Officers -

Gareth Hutchings Matthew Darke Michelle Batting Philip Palfrey Hannah Frost

Rosie Bennett Helen Bellew

» DEVON FEDERATION OF YOUNG FARMERS’ CLUBS

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TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2020

DIRECTORS of the Company Limited by Guarantee

Appointed

Retired

Members —

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Colin Tucker 27 November 2014 28 November 2019 Alice Giles 24 November 2016 28 November 2019 Gareth Hutchings 24 November 2016 Matthew Darke 22 November 2018 Daniel Grist 22 November 2018 28 November 2019 Mark Snell 22 November 2018 28 November 2019 Charles Mill 22 November 2018 28 November 2019 James Westcott 22 November 2018 28 November 2019 Layla Hill 22 November 2018 28 November 2019 Richard Tucker 22 November 2018 28 November 2019 Kelly Wakeham 22 November 2018 28 Novermber 2019 Andrew Heywood 22 November 2018 28 November 2019 Rosie Bennett 28 November 2019 Michelle Batting 28 November 2019 Philip Palfrey 28 November 2019 Hannah Frost 28 November 2019 Helen Bellew 28 November 2019 Georgina Lethbridge 28 November 2019 Charlotte Watts 28 November 2019 Laura Lee 28 November 2019 Shelley Down 28 November 2019 Victoria Gilbert 28 November 2019 Sam Thornton White 28 November 2019

Co-opted —

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Mr P G Wolfgang 22 November 2012 Mr R W Camp 26 November 2015 Mrs S Burrow 26 November 2015 28 November 2019 Mrs A M Burden 5 March 2018 Miss S$ Nicholls 5 March 2018 Mr Cc R Down 22 November 2018 Mr L J Heywood 28 November 2019 Mrs K Stagg 28 November 2019

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TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2020

EX-OFFICIO

President of the Federation David Fursdon Esq, Her Majesty’s Lord-Lieutenant of Devon MA FRICS FAAV FRAgS

REGISTERED ADDRESS YFC Centre
Amory Building
Cheriton Bishop
Exeter
Devon
EX6 6JH
BANKERS CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
TREASURER T M Rounsefell FCA
8 Alexandra Close
Crediton
Devon
EX17 2DY
ACCOUNTANTS Simpkins Edwards LLP
Chartered Accountants
Michael House
Castle Street
Exeter
EX4 3LQ
SOLICITOR P G Wolfgang
Michelmores LLP
Woodwater House
Pynes Hill
Exeter
EX25WR

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- DEVON FEDERATION OF YOUNG FARMERS’ CLUBS

TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT

Legal Status

The trustees who are directors for Company Law purposes present their report along with the financial statements of the charity for the year ended 31 August 2020. The financial statements have been prepared in accordance with the accounting policies set out in the ‘Notes to the Financial Statements’ and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006, the Charities Act 2011 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) (as amended for accounting periods commencing from 1 January 2016).

Organisational Structure

The governing board of DFYFC, known as the Executive, is made up of elected representatives from each of our affiliated Clubs and Groups and up to 15 co-opted individuals. The Board of Management and General Council are sub committees of the Executive.

OBJECTIVES AND ACTIVITIES

The Executive confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Devon Federation of Young Farmers’ Clubs’ aims and objectives and in planning future activities.

Objects

DFYFC objects are to:

Furtherance of Objects

DFYFC furthers these objects by providing support to its network of clubs within Devon, to provide young people in rural areas with opportunities for personal and social development through a programme of activities and contact, thus enabling them to become responsible adults equipped with the confidence and skills to make a contribution within their community. The Devon Federation seeks to achieve this by:

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* DEVON FEDERATION OF YOUNG FARMERS’ CLUBS

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2020

ACHIEVEMENTS AND PERFORMANCE

At the end of the financial year 1,436 young people were members of the Devon Federation of Young Farmers’ Clubs. A huge number of additional people also benefited from the organisation by attending events as guests and speakers.

There are 37 clubs in Devon, each of which belongs to one of the 6 area groups within the County Federation. It is very important to the Federation that young people, especially those from rural areas, can engage in positive activities and also to ensure that these young people are actively involved in their communities. YFC not only encompasses training and competitions but engages regularly with helping local communities via charity work and practical activities.

One of the outstanding areas of achievement that members of Devon Young Farmers continue to excel at is the amount of fund raising that members do for a range of charities. Despite the extremely challenging circumstances this year they have continued to focus their efforts on raising money for excellent causes including Devon Air Ambulance, The Stroke Association and Farming Community Network.

We are forever indebted to our members for their strong sense of community work and positive impact that they have on their local residents. This was again shown during the lockdown when various clubs, including Clawton YFC, went shopping and collected prescriptions for residents in their area.

Devon YFC has been severely impacted by the pandemic and although the members have been incredible with their support of the organisation and constant positivity, Covid-19 will have a huge impact on our finances for at least the next three years. Without being able to run social activities and with a fall in membership numbers, the Federation will have to make savings to ensure the longevity of the organisation.

We are extremely grateful to the volunteers, of all ages, who so generously give up their time to support the membership in so many ways. Their encouragement and dedication to the federation is incredible and without them we would not be able to make such a positive difference to the lives of so many.

During the year we have had a change of staffing to the office team at the YFC centre and welcome Helen Pring to the post of County Organiser and Dan Grist to the post of Events and Marketing. Both come to their roles with a range of skills and knowledge of young farmers.

FINANCIAL REVIEW

As shown in the statement of financial activities on page 10, incoming resources have decreased this year by £55,318 to £155,667.

Total resources expended have decreased this year by £49,699 to £146,992.

The market value of the equity investment has increased by £11,785 during the year to 31 August 2020.

This has given an increase in net resources for the year of £26,209 on unrestricted funds and a decrease of £5,749 on restricted funds.

The total fund balance at 31 August 2020 was £808,612 in unrestricted funds and £18,545 in restricted funds, giving a total balance of £827,157 (2019: £806,697).

Reserves Policy

The trustees have reviewed the Federation’s need for reserves and, in line with the guidance issued by the Charity Commission they have agreed that it is prudent to have reserves equivalent to one year's running costs, which comprise total expenditure less cost of charitable activities (grants or donations). Reserve funds at this level will enable the Federation to meet its liabilities to staff and fulfil the terms of its contractual arrangements.

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- DEVON FEDERATION OF YOUNG FARMERS’ CLUBS

TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2020

investment Policy

The trustees’ intention during the period was to maintain flexibility in its investments and protect the capital value. They have had to accept another year of low interest given the rates currently available.

Risk Management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operation of its finances, and are satisfied that systems are in place to mitigate exposure to major risks.

PLANS FOR THE FUTURE

The main aim for Devon Federation of YFCs is to provide opportunities for personal and social development alongside ensuring that all members are fully involved with the decision-making process of the organisation.

The current focus is to ensure that DFYFC is financially secure and not dependent on short term funding. We can achieve this through several measures including:

  1. Reviewing membership levy and altering as needed to ensure a strong membership base. 2. Seeking sponsorship of not only the organisation but also specific activities throughout the year. 3. Ensuring the county office continues to achieve value for money when procuring supplies and services. 4. Apply for grants to fund specific aspects of the federation including training.

TRUSTEES RESPONSIBILITIES

The trustees 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).

The law applicable to charities in England and Wales 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 of the charity for that period. In preparing these financial statements the trustees are required to:

a

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* DEVON FEDERATION OF YOUNG FARMERS’ CLUBS

TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2020

TRUSTEES’ RESPONSIBILITIES (CONTINUED)

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and provisions of the trust deed. 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.

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The trustees report was approved by the trustees on 26 November 2020 and signed on their behalf by:

Gareth Hutchings Trustee

Matthew Darke il Le Trustee

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_ > DEVON FEDERATION OF YOUNG FARMERS’ CLUBS | INDEPENDENT EXAMINER’S REPORT TO THE BOARD OF TRUSTEES ON THE UNAUDITED FINANCIAL | STATEMENTS OF DEVON FEDERATION OF YOUNG FARMERS’ CLUBS

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| report to the charity trustees on my examination of the accounts of the company for the year ended 31 August 2020 which are set out on pages 10 to 25.

Responsibilities and basis of report

As the charity’s trustees of the company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for the independent examination, | report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act’). In carrying out my examination, | have followed the Directions given by the Charity Commission (under section 145(5)(b)) of the 2011 Act.

Independent examiner’s statement

| am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants England and Wales. | have completed my examination. | confirm thatno material matters have come to my attention which give me cause to believe that:

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| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Coombs MA (Cantab) FCA

Simpkins Edwards LLP

Chartered Accountants

Date QO febwacd LOL

Michael House

Castle Street

Exeter EX4 3LQ

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_ - DEVON FEDERATION OF YOUNG FARMERS’ CLUBS | STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020 | (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

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|||||||||| |---|---|---|---|---|---|---|---|---| |Funds|Funds|2020|2019| |||Note|Unrestricted|Restricted|Total|Total| |income|and|Endowments|from| |||Donations|& Grant|3|69,730|-|69,730|68,971| |||Charitable|activities|4|51,780|-|51,780|91,772| |||Investment|income|5|34|-|34|71| |||Other trading income|6|30,418|“|30,418|45,561| |||Other income|7|3,705|-|3,705|4,610| |||Total|income|155,667|-|185,667|210,985| |||Expenditure on| |||Raising|funds|8|59,442|-|59,442|68,647| |Charitable|activities|9|62,871|6,506|69,377|109,553| |||Other costs|10|18,173|-|18,173|18,491| |||Total|Expenditure|140,486|6,506|146,992|196,697| |:|15,181|-6,506|8,675|14,294| |||Unrealised|gain|due|to|revaluation| |:|of the|equity|investment|12|11,028|757|11,785|16,396| |Net|income|26,209|-5,749|20,460|30,690| |Reconciliation|of funds:| |Total|funds|brought forward|16|782,403|24,294|806,697|776,007| |Total funds|carried|forward|16|808,612|18,545|827,157|806,697|

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There are no other recognised gains or losses in the year.

The notes on pages 12 to 25 form part of these financial statements.

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- DEVON FEDERATION OF YOUNG FARMERS’ CLUBS

BALANCE SHEET AS AT 31 AUGUST 2020

Note 2020 2019
£ £ £ £
Fixed assets 1 579,773 581,978
Current assets
Stocks 1,019 1,444
investments 12 277,757 238,938
Debtors and prepayments 13 6,753 15,305
Balance at bank 3,924 1,768
289,453 257,455
Creditors: amounts falling duewithin oneyear 14 42,069 32,736
247,384 224,719
Total assets less current liabilities 827,157 806,697
Funded by:
Restricted funds 16(a) 18,545 24,294
Designated unrestricted funds 16(b) 642,556 638,723
General unrestricted funds 16(b) 166,056 143,680
827,157 806,697

For the financial year ended 31 August 2020 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for 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 surplus or deficit for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006.

The financial statements on pages 10 to 25 were approved by the trustees on 26 November 2020 and were authorised for issue on their behalf by:-

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Gareth Hutchings
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Us
Matthew Darke Q be
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Trustee

Trustee

Company registration no: 04699221

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

  1. Accounting Policies

Company information

Devon Federation of Young Farmers’ Clubs is a company limited by guarantee, registered with the Charity Commission (1098759) incorporated in England and Wales. The registered office is Amory Building, Cheriton Bishop, Exeter, Devon, EX6 6JH.

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.

(a) Basis of preparation

The financial statements have been prepared on the basis of the historic cost convention at cost or transaction value, except property and investments which are shown at fair value in accordance with:

The charity constitutes a public benefit entity as defined by FRS 102.

The trustees are of the view that, based on the level of its funds, the Charity remains a going concern.

Company status

The charity is a company limited by guarantee. The members of the company include the trustees who are also ordinary members. In the event of the charity being wound up, member's liabilities in respect of the guarantee are limited to £1 per member of the charity. At 31 August 2020, the number of members was 37.

(b) Fund accounting

(A) Restricted Funds

(i) Memorial Funds

These funds were set up to assist members in their education in agriculture, home crafts, country life and related subjects.

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2 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

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- DEVON FEDERATION OF YOUNG FARMERS’ CLUBS

(ii) Education Fund

This fund was set up to assist members in their education in agriculture, home crafts, country life and related subjects. It now provides financial support to encourage the development of Internationalism through International Youth Exchanges providing participants with an increased awareness of other countries, their cultures and people.

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Designated and Unrestricted Funds

(i) Defunct Clubs

Funds received from clubs that have been dissolved in accordance with their standard constitution. Where new clubs open in an area previously served, funds can be available to support.

(ii) Lifeskills Project

There is an increasing demand to expand the skill base of the membership. This is due partly to the increasing regulatory requirements for young people working in agriculture and related rural businesses. Its funding is from the contributions of members and external sponsors.

(iii) New Building

The Fund has been used to receive funds from members and others towards the cost of the new County Centre with sufficient facilities to meet the needs of the membership in the future. The new Centre is a great asset to Devon YFC with much improved facilities.

(iv) Amory Building Maintenance Fund

The Trustees have agreed to set up this fund to provide for an annual contribution towards future costs of maintaining the fabric of the building at Cheriton Bishop.

(v)

General Fund

The charity's General Fund consists of funds which the charity may use for its purposes at its discretion. The aim of the Federation is to keep sufficient funds in reserve to cover its running expenses for at least a year in the event of major disruption of the programme due to matters outside its control.

(c) Assets and liabilities

These are included in the balance sheet at the following amounts:

Tangible fixed assets held for Management and Administration purposes at net book value, which is the original cost less depreciation - (see note 11b).

Investments are included at fair value using the quoted market price.

Current assets at the lower of cost and net realisable value.

Liabilities at their settlement value.

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- DEVON FEDERATION OF YOUNG FARMERS’ CLUBS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

(d) Depreciation of fixed assets

Depreciation is provided on the freehold property using a straight-line system of 2% per annum.

Depreciation is provided on office equipment and plant and machinery so as to write off the cost of the assets over their estimated useful lives of between 2 and 10 years using a straight-line system per annum.

(e) Income

Donations & Sponsorship

income from donations as detailed in note 3, and the affiliation levy. Such income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. The affiliation levy is included in the year to which the levy relates.

Charitable activities

This consists of income relating to the charitable projects/activities carried out by the organisation, including county activities, International Youth Exchange activities, Lifeskills project and other project income. Such income is accounted for in the period to which it relates.

Other trading activities

Other trading activities consists of sales and advertising in the annual Year Book and monthly newsletters, income generated from YFC Centre facilities, fundraising and social events, and administration support. Such income is accounted for in the period to which it relates.

Investment income

interest receivable is accounted for on a received basis.

(f Income generated from YFC Centre facilities

Income is accrued in accordance with the period to which it relates.

Credit is taken for any interest when the interest falls due for payment. This is allocated to the type of fund in which the investments are held.

(h)

Taxation

The Federation has charitable status and uses its funds for charitable purposes. Therefore, no taxation is included in these financial statements. The charity is not registered for Value Added Tax and expenditure includes VAT where appropriate.

(i) Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate ail costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of resources.

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- DEVON FEDERATION OF YOUNG FARMERS’ CLUBS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

(j)

Basic financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1 County Activities

income derived from the County programme as agreed by the membership includes the County Show and other Competitions. These activities are primarily educational, providing training in life skills and aimed at the personal and social development of the young people and any income generation is a secondary concern.

2 Donations

Donations include financial support from the National Farmers Union Mutual Assurance Co, Mid Devon District Council, National Farmers Union (Devon Branch), South West Area Group of YFCs and a number of commercial organisations.

3 Government grants

Government grants are recognized at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognized in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognized in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |Funds|Funds|2020|2019| |£|£|£|£| |Donations|&|Sponsorship|(note.|1e)|12,950|-|12,950|13,415| |Mid|Devon|District|Council| |Covid|19|Grant|Funding|Scheme|10,000|-|10,000|-| |Affiliation|Levy|45,680|-|45,680|46,102| |Income|from|YFC|‘Supporters’|1,100|~|1,100|1,165| |Todd|Riggs|Memorial|Fund|-|-|-|8,289| |69,730|-|69,730|68,971| |For the|year ended|31|August|2019|60,682|8,289|68,971|

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

4 Charitable activities

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|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |Funds|Funds|2020|2019| |£|£|£|£| |County|activities|(note|2)|1,593|-|1,593|8,383| |International|Youth|Exchange|(note|17)|-|-|-|14,620| |Lifeskills|project|(note|18)|1,843|-|1,843|12,181| |Fund|raising|and|charitable|events|48|344|-|48|344|56,588| |51,780|-|51,780|91,772| |For the|year ended|31|August|2019|77,152|14,620|91,772| |Restricted|income|of £|0 was|received|in|respect|of the|International|Youth|Exchange|in|2020.| |5|investment|Income| |Unrestricted|Restricted|Total|Total| |Funds|Funds|2020|2019| |£|£|£|£| |Investment Accounts|34|-|34|71| |For the year ended|31|August|2019|69|2|71| |6|Other trading|income|Unrestricted|Restricted|Total|Total| |Funds|Funds|2020|2019| |£|£|£|£| |Sales|and|advertising|in|Year|Book|&| |Newsletters|8,003|-|8,003|11,695| |Income|generated|from YFC|Centre| |facilities|22,415|-|22,415|25,641| |Admin|support|to|British|Wool|-|-|-|6,253| |Contract|Income|-|-|-|1,972| |30,418|~|30,418|45,561| |For the year ended|31|August|2019|45,561|-|45,561|

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- DEVON FEDERATION OF YOUNG FARMERS’ CLUBS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

7 Otherincoming resources
Unrestricted
Funds		 Restricted
Funds		 Total
2020		 Total
2019
Members’ contributions totraining
& Grants received 3,705 “ 3,705 4610
Forthe yearended 31 August 2019 4,610 - 4,610
8 Raisingfunds
Unrestricted
Funds		 Restricted
Funds		 Total
2020		 Total
2019
Costoffundraising and social activities
Salaries		 38,083
13,542		 -
-		 38,083
13,542		 30,619
26,890
Newsletiers & Year Book costs 7,817 - 7,817 11,138
59,442 - 59,442 68,647
Forthe yearended 31 August2019 68,647 - 68,647
9 Charitable activities
Unrestricted
Funds		 Restricted
Funds		 Total
2020		 Total
2019
County competitions 2,550 - 2,550 8,165
International Youth Exchange (note 17) ~ 6,506 6,506 15,052
Lifeskills project (note 18)
Club support - Salaries
Club support— Officers’ Travel (note 19)
Club support— Stafftravel, Communication
& Training Costs
DBS~Vetting checks
YFC Centre running expenses		 1,010
12,983
2,525
12,543
1,043
10,506		 -
-
-
-
-
-		 1,010
12,983
2,925
12,543
1,043
10,506		 10,733
25,240
2,706
14,546
743
12,750
General Office expenses 1,949 - 1,949 1,940
: Recruitment Costs 1,013 - 1,013 2,698
Depreciation of building
Depreciation offurniture & equipment		 10,112
6,637		 -
-		 10,112
6,637		 9,994
4,986
62,871 6,506 69,377
Fortheyear yearended 31 August2019 94,501 15,052

Expenditureon charitable activities in2019
InternationalYouthExchange.		 included £15,052 in respectofrestricted

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

  1. Other costs

2 Unrestricted Restricted Total Total Funds Funds 2020 2019 | |Salaries 14,836 - 14,836 15,931 : Independent Examination Fee 7,800 - 1,800 1,560 Accountancy 1,537 - 1,537 4,000 18,173 - 18,173 18,491 For the year ended 31 August 2019 18,491 - 18,491

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

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11 Fixed Assets

(a) The Amory Building, Cheriton Bishop

This freehold property was acquired in May 2014. Planning permission was granted by the local authority to change the use to offices. The property was occupied by the Federation in December 2016.

Depreciation of 2% on the straight line basis has been provided against the building element of the total cost of the property.

(b) Tangible FixedAssets Freehoid
Land&		 Office
Furniture
Buildings &Equipment
Cost
At1September2019		 599,696 45,125
Additions during theyear 5,920 8,624
At31 August2020 605,616 53,749
Depreciation
At1September2019 43,049 19,794
Charge fortheyear 10,112 6,637
At 31 August2020 53,161 26,431
Netbookvalue
At31 August2020 552,455 27,318
At31August2019 556,647 25,331

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

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12 Investments
Short term deposits with:
Affirmative Deposit Fund .
CCLA Investment Fund
CCLA Deposit Fund
CAF Deposit Funds
Opening balance as at 1 September 2019 238,938
Interest received 34
Added during the year 27,000
265,972
Increase in valuation of accumulation units 11,785
Closing balance at 31 August 2020 277,757
13 Debtors 2020 2019
Prepayments 1,101 2,543
Other debtors 5,652 12,762
6,753 15,305
14 Creditors ~- amounts falling due within one year 2020 2019
£ £
Other creditors 40,449 30,972
Accruals 1,620 1,764
42,069 32,736
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

15 Analysis of net assets between funds

Unrestricted/
Designated Restricted
Funds Funds Total
£ £ £
Tangible fixed assets 579,773 » 579,773
investments 246,687 31,070 277,757
Other current assets 11,696 - 11,696
838,156 31,070 869,226
Less: Total liabilities 29,544 12,525 42,069
808,612 18,545 827,157

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

Balance at Transfer Interest for Net movements Balance at
Notes 1 Sept 2019 between funds theyear during the year 31 August 2020
£ £ £ £ £
16 (a) Restricted Funds
(i) Memorial Funds:
John Spear 2,743 ~ - 160 2,903
George Hingston 2,305 - - 134 2,439
Joy Retter 78 - - 5 83
Todd Riggs 7,864 - - 458 8,322
(ii) Other Funds:
Education Fund (International Youth Exchange) 17 11,304 - - -6,506 4,798
24,294 - - -5,749 18,545
(b) Designated unrestricted funds and general unrestricted funds
(i) Other Funds:
Defunct Clubs 655 ~ * - 655
Lifeskills Project 18 24,549 - - 833 25,382
New Building 604,519 - - - 604,519
Amory Building Maintenance 9,000 - - 3,000 12,000
(ii) OtherGeneral Funds 143,680 - 34 22,342 166,056
782,403 - 34 26,175 808,612
Total Funds 806,697 - 34 20,426 827,157

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

17 International Youth Exchange £ £
Balance at
1 September 2019		 11,304
Expenditure on AirTravel costs, awaiting refunds
Senior travel scholarship to Latvia 4,256
Junior travel scholarship to Sweden 2,250
6,506
Balanceat31August2020 4,798

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

18 Lifeskills project £ £
Balance at
1 September2019		 24,549
Income:
Sponsorships -
Tiverton Agricultural Association 500
Members fees 1,056
1,556
Expenditure:
Course costs and contributions towards members attending
external courses 1,010
546
AGRI Travel
Surplus on cost ofTravel to Ireland 287
833
Balanceat37August2020 25,382

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

19 Transactions with trustees and connected persons

Total expenses of £2,525 (2019: £2,706) were paid to the Chairman, Vice Chairman, Junior Vice Chairman and the Chairmen of Committees during the year, towards their travel expenses. This is included in the amount shown in note 9 to the financial statements.

No other remuneration was paid to the Trustees and Directors in the year ended 31 August 2020 or the preceding period. The Federation did not fund any insurance premiums for any benefit by the Trustees.

20 Staff emoluments and key management personnel

The average number of full time staff employed by the Federation during the year was 1.8 (2019:

The emoluments for those employees were:

2020
Salaries 40,679
Employer's National Insurance contributions 0
Employer's Pension schemeauto-enrolment 682

There were no employees with emoluments of more than £60,000.

The key management personnel of the charity comprise the Trustees, the Directors, the Federation‘’s County Organiser and the Treasurer,

21 Treasurer Remuneration

2020 2019
Accountancy services 1,000 1,000

22 Related party transactions

There were no disclosable related party transactions during the year (2019: none).

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