REGISTERED COMPANY NUMBER: 04699221 (England and Wales)
REGISTERED CHARITY NUMBER: 1098759
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31st August 2023
for TheFederationDevon of Young Farmers Clubs (A Company LimitedGuarantee)by
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C47 [c)]
MyOy 2023
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ATC Advisors Chartered Accountants Unit 2 Dunheved Court Pennygillam Way LAUNCESTON Comweaill PL15 7ED
The Devon Federation of Young Farmers Clubs
Contents of the Financlal Stataments for the Year Ended 31st August 2023
| Page | |||
|---|---|---|---|
| Reportof theTrustees | 1 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement ofFinancial Activities | 7 | ||
| Balance Sheet | 8 | to | 9 |
| Notes to the Financial Statements | 10 | to | 19 |
| DetaliedStatementofFinancialActivities | 20 | to | 21 |
The Devon FederationofYoung Farmers Clubs for the ReportYear Endedof the31st TrusteesAugust 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st August 2023. The trustees have adopted the provisions of 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 was created by way of a merger with the funds of Devon County Federation of Young Farmers’ Clubs {charity number 301029) being transferred on incorporation on 24th August 2006. The funds of John Spear Memorial Fund (charity number 810146) were also transferred into the charity on 15th March 2012.
OBJECTIVES AND ACTIVITIES
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:
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ce} advance the education of young members of the public at large, in agriculture, home crafts, country life and telated subjects; and
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° in the interests of the social welfare of such members to provide, and promote the provision of, facilities for recreation and other leisure time occupations which will improve their conditions of life and will assist in the development of their spiritual and mental capacities, self-reliance and individual responsibilities so that they grow to full maturity as individuals and members of the community.
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: 0 offering opportunities for personal growth through which young people can develop life skills, confidence and self-esteem;
0 __s providing ways for young people to express their views and be heard;
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0 Offering a variety of informal education activities, programmes and experiences which are recreational, social and fun;
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© maintaining a strong countryside element in those programmes including relevant farming links; 0 enabling members to be fully involved in the decision making of the organisation and helping them recognise, reflect upon, and vaiue the leaming processes involved;
0
- being accessible to all young peopie regardless of their background, circumstances, appearance or beliefs.
Public benefit
The trustees have had regard to the Charity Commission's guidance on public benefit.
Page 1
The Devon Federation of Young Fanners: Clubs
Report of the Trustees for the Year Ended 31st August 2023
ACHIEVEMENT AND PERFORMANCE
Achievements and Performance
At the end of the financial year 1,861 young people were members of the Devon Federation ofYoung Farmers' Clubs. A huge number of additional people also benefitted from the organisation by attending events as guests and as speakers, aither in person or via Zoom.
There are 37 clubs in Devon, each of which belongs to one of the 6 area groups within the County Federation. Ris 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 locat communities via charity work and practical activities. Devon YFC continues to provide young people with opportunities, personal and social development and cultural awareness, through a programme of activities, enabling them to become responsible adults equipped with the confidence and skills to contribute to their own community. Devon YFC provides recreation opportunities to members of the public as it showcases the achievements of its members and of rural life - at rural and agricultural shows and events where the public may spectate or participate.
One of the outstanding areas of achievement that members of Devon Young Farmers continue to excel at is in the amount of fundraising that members do for a range of charities. They have continued to focus their efforts on raising money for excellent causes including Devon Air Ambulance Trust, Cancer Research UK and the 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. Clubs and groups have completed numerous fundraising and community projects which will ensure local residents will have a better quality of life.
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 continue to have a huge impact on our finances for at least the next year. 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 invaluable and without them we would not be able to make such a positive difference to the lives of so many young people.
Investment performance
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.
FINANCIAL REVIEW
Financial position
As shown in the statement of financial activities on page 7. incoming resources have increased this year by £22,906 to £293,090. Total resources expenses this year have increased this year by £61,622 to £351,889. As a result, there is an overall deficit after gains and loses on investments of £57,150 compared with a deficit in the previous year of £24,754.
The market value of the equity investment as at 31st August 2023 was £220,830 (2022: £246,395). 132.47 units were disposed during the year, realising a gain of £17,757.54.
The tota! fund balances as at 31st August 2023 were £583,580 in restricted funds and £203,161 in unrestricted funds, giving a total balance of £786,741 (2022: £843,891).
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 (approximately £170,000), which comprise total expenditure less the costs related to charitable activities. Unrestricted free reserves at this level will enable the Federation to meet its liabilities to staff and fulfil the terms of its contractual arrangements.
As at 31st August 2023 the Charity's total reserves were £786,741 (2022: £843,891). Unrestricted free reserves available for spending as at 31st August 2023 were £188,413 (2022: £239,133).
Page 2
The Devon Federation of Young Farmers Clubs
Report of the T for the Year Ended 31st August 2023
FUTURE PLANS
The main aim for Devon Federation of YFC 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:
- 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. — Applying for grants to fund specific aspects of the federation including training.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document The charity is controlled by its goveming document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The goveming 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.
Key management remuneration
The key management personnel of the charity comprise the Trustees, the Federation's County Organiser and the Treasurer.
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.
Page 3
The Devon Federation of Young Farmers Clubs
Report of the Trustees for Year E AstA
REFERENCE AND ADMINISTRATIVE DETAILS
REGISTERED OFFICE
Amory Building Cheriton Bishop Exeter EX6 6JH
REGISTERED COMPANY NUMBER REGISTERED CHARITY NUMBER
GOVERNING INSTRUMENT
04699221 (England and Wales)
4098759 (merged with 301029 and 810146)
The Constitution of the Federation, along with the Memorandum and Articles of Association
Co-opted Trustees appointed by nomination with voting power.
GROUP REPRESENTATIVES
Chloe Arscott Katie Grist Alex Rodd
Emily Gay Amy Osborne Josh Quant
COUNTY OFFICERS
DIRECTORS/TRUSTEES
Daniel Grist Anneliese Retallick Katie Northmore-Land Sophie Bould-Lynch
Victoria Gilbert
Victoria Gilbert Dawn Radford Megan Broom
Rosie Bennett
CO-OPTED DIRECTORS
INDEPENDENT ADVISORS
SOLICITOR
Chloe Arscott Megan Broom Clare Edworthy Danie! Grist Leslie Heywood Nicola Osbome Peter Reed Alexander Rodd Philip Wolfgang (resigned Oct 2023)
Resigned 25.11.2022 Matt Darke Francesca Ansdel! Amanda Burden Stephanie Colwill Daniel Olive
Mr P G Wolfgang Mr L J Heywood Mr P Reed ATC Advisors Chartered Accountants Unit 2 Dunheved Court Pennygiilam Way Launceston Comwail PL15 7ED
P G Wolfgang Michaelmores LLP
Sophie Bould-Lynch Christopher Down Emily Gay Katie Grist Katie Northmore-Land Dawn Radford Annetiese Retallick Karen Stagg
Amy Tope Allson Balsdon Alice Chappte Shelley Ford Rupert Shinner
Mrs A M Burden Mr C R Down Mrs K Stagg
Page 4
The Devon Federation of Young Farmers Clubs
for the ReportYear Endedof the31stTrusteesAugust 2023
Woodwater House Pynes Hill Exeter EX2 5WR
BANKERS CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Approved by orderof the board of trustees on SW ZS... and signed on its behalf by:
Page 5
Independent Examiner's Report to the Trustees of von F f Y' E Clubs
Independent examiner's report to the trustees of The Devon Federation of Young Farmers Clubs (‘the Company’)
| report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2023.
Responsibilities and basls of report
As the charity's trustees of the Company (and also its directors 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 theCompany are not required to be audited under Part 16 of the 2006 Act and are eligible for 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
Since your cherity’s gross income exceeded £250,000 your examiner must be a member of a listed body. | can confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to betieve:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principies of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charitles preparing _ their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
| have no concems 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.
Neato. buey
Sarah Gay FCCA/ACA
ATC Advisors Chartered Accountants Unit 2 Dunheved Court Pennygillam Way LAUNCESTON Cornwall PL15 7ED
Page 6
The Devon Federationof Young Farmers Clubs
Statement of Financial Activities for the Year Ended 31st August 2023
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|||||||||
|---|---|---|---|---|---|---|---|
|Unrestricted|2023|2022|
|funds|Restricted|Total|Total|
|Notes|£|funds£|funds£|funds£|
|INCOME AND|ENDOWMENTS|FROM|
|Donations and|grants|2|410,585|3,500|114,085|75,791|
|Charitable|activities|
|Charitable|Activities|122,252|24,883|147,135|165,496|
|Other|trading|activities|3|29,891|-|29,891|26,728|
|Investment income|4|78|-|78|19|
|Other income|1,901|-|1,901|2,150|
|Total|264,707|28,383|293,080|270,184|
|EXPENDITURE|ON|
|Raising funds|5|128,799|-|128,799|429,335|
|Charitabte|activitles|
|Charitable|Activities|148,948|32,552|184,500|114,800|
|Other|41,590|-|41,590|46,432|
|Total|319,337|32,552|351,889|290,267|
|Net gains/({losses)|on investments|1,649|-|1,649|(4,671)|
|NET iNCOME/(EXPENDITURE)|(52,981)|(4,169)|(57,150)|(24,754)|
|Transfers|between funds|16|(4,300)|1,300|-|-|
|Net movement in funds|(54,281)|(2,869)|(57,150)|(24,754)|
|RECONCILIATION|OF|FUNDS|
|Total funds|brought forward|257,442|586,449|843,891|868,645|
|TOTAL FUNDS CARRIED FORWARD|203,164|583,580|786,741|843,891|
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The notes form part of these financial statements
Page 7
The Devon Federation of Young Farmers Clubs (Registered number. 04699221)
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|||||||||
|---|---|---|---|---|---|---|---|
|Balance|Sheet|
|31st|August|2023|
|2023|2022|
|Unrestricted|Restricted|Total|Total|
|Notes|funds£|funds£|funds£|funds£|
|FIXED ASSETS|
|Tangible assets|11|14,748|526,812|§41,560|555,820|
|Investments|12|174,372|46,457|220,829|249,181|
|189,120|573,269|762,389|805,001|
|CURRENT ASSETS|
|Stocks|13|2,044|-|2,014|2,472|
|Debtors|14|26,733|:|26,733|24,525|
|Cash at bank and|in|hand|24,102|10,311|34,413|31,874|
|52,849|10,311|63,160|58,871|
|CREDITORS|
|Amounts|falling|due within one year|45|(38,808)|-|(38,808)|(19,981)|
|NET CURRENT ASSETS|14,041|10,314|24,352|38,890|
|TOTAL ASSETS LESS CURRENT|LIABILITIES|203,161|583,580|786,741|843,891|
|NET ASSETS|203,161|583,580|786,741|$43,891|
|FUNDS|16|
|Unrestricted|funds|203,161|257,442|
|Restricted funds|583,580|586,449|
|TOTAL FUNDS|786,741|843,891|
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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{b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surpius or deficit for each 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 financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 8
continued...
The Devon Federation of Young Farmers Clubs (Registered number: 04699221)
Balance Sheet - continued 31st August 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the smali companies regime.
The,,2 aife2financial statementsand werewere signedapproved on its behalfby the by: Board of Trustees and authorised for issue on
V Gilbert - Trustee
The notes form part of these financial statements
Page 9
- ACCOUNTING POLICIES
The Devon Federation of Young Farmers Clubs
Notes to the Financial Statements for the Year Ended 31st August 2023
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
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 concem.
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.
Income
Donations & Sponsorship income from donations as detailed within notes to the financial statements, 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
Income relating to the charitable projects/activities carried out by the organisation, induding 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
Consists of sales and advertising in the annual Year Book and monthly newsletters, income generated from YFC Centre facilities, fundraising and social events. Such income is accounted for in the period to which it relates.
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 are aimed at the personal and social development of the young people and any income generation is a secondary coancem.
Investment income
Interest receivable is accounted for on a received basis.
income generated from YFC Centre facilities Income is accrued in accordance with the period to which it relates.
Bank interest
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. Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all 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.
Costs of raising funds
Costs incurred in attracting income and those incurred in activities that raise funds.
Charitable activities
Costs involved in the provision of services.
Other costs Include those incurred in the governance of the charity and {ts assets and are primarily associated with constitutional and statutory requirements.
continued...
Page 10
- ACCOUNTING POLICIES - continued
The Devon Federation of Young Farmers Clubs Notes to the Financial Statements - continued for the Year Ended 31st August 2023
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.
Donations and government grants
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.
Government grants are recognised 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 recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in Income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - 2% on cost and not provided for on Land Fixtures and fittings - Straight line over 5 years, Straight line over 10 years and Straight line over 7 years
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving Items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
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 by providing scholarships. The Joy Retter Memorial Fund is used for a trophy for junket and butter making for presentation to the winner of the competition.
{ii} International Youth Exchange Fund This fund provides financial support to encourage the development of Internationalism through international Youth Exchanges providing participants with an increased awareness of other countries, their culture and people.
(ii) Building Fund
This fund represents the grants and donations received in order to purchase the Amory building at Cheriton Bishop. This balance is reflected in fixed assets and is being released from the restricted fund through depreciation in line with the depreciation policy. (iv) Lifeskillg Project The Lifeskills project fund includes the receipt of grants and donations to be used towards training, including work on mental health, officers training and vocational training through the funds provided by the Dartington Cattle Breeding Trust. (v) CCTV Fund These funds represent a donation from the Vice Patron account towards an alarm and CCTV system for the Federation. These funds were utilised in full during the year to August 2022 and are being released from the restricted fund through depreciation.
Page 11
continued...
The Devon Federation of Young Farmers Clubs
Notes to the Financial Statements - continued for the Year Ended 31st August 2023
1. ACCOUNTING POLICIES - continued
Fund accounting
(B) Designated and Unrestricted Funds
(i) Lifeskilis 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. {ts funding is from the contributions of members.
(li) Amory Bullding 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.
(iti) General Fund
The charity's Generali 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 contro}.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
- DONATIONS AND GRANTS
| 2. | DONATIONS ANDAND GRANTS | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Donations &Sponsorship | 10,732 | 30,451 | |
| Grants Affiliation Levy Income from YFC Supporters |
1,500 100,873 980 |
2,500 41,700 1,140 |
|
| 114,085 | 75,791 | ||
| Grants received, included in the above, are as follows: | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Mid Devon District Council Covid 19GrantFundingScheme | - | 1,000 | |
| Othergrants | 1,500 | 1,500 | |
| 1,500 | 2,500 | ||
| 3. | OTHERTRADING ACTIVITIES | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Sales and advertising inYearBook& Newsletters | 5,918 | 4,389 | |
| Incomegenerated fromYFCCentrefacilities JobsAdvertsBoard Stockmovement |
23,406 1,025 (458) |
20,165 1,425 749 |
|
| 29,891 | 26,728 |
Page 12
continued...
The Devon Federation of Young Farmers Clubs Notes to the Financial Statements - continued for the Year Ended 31st August 2023
- INVESTMENT INCOME
| 4. | INVESTMENT INCOME | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Deposit account interest | 78 | 19 | |
| 5. | RAISING FUNDS | ||
| Ralsingfunds | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Staffcosts Costoffundraising and social activities |
12,504 142,413 |
10,633 114,929 |
|
| Newsletter&YearBook costs | 3,882 | 3,773 | |
| 128,799 | 129,335 | ||
| 6. | NETINCOME/(EXPENDITURE} | ||
| Net income/(expenditure) isstated after charging/(crediting): | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation - owned assets |
17,312 | 17,131 | |
| IndependentExamination | 1,200 | 1,200 |
- TRUSTEES’ REMUNERATION AND BENEFITS
14 trustees received ex-gratia payments in the form of honorariums in the year in their role as officer. These payments totalled £5,588.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31st August 2023 nor for the year ended 31st August 2022.
- STAFF COSTS
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries Socialsecuritycosts |
68,943 1,433 |
70,342 4,408 |
| Otherpension costs | 898 | 1,004 |
| 71,274 | 72,751 |
The key management personne! of the charity comprise the Trustees and Directors, the Federation's County Organiser and the Treasurer. The average monthly number of employees during the year was as follows: 2023 2022 Average number of employees 3 4
No employees received emoluments in excess of £60,000.
Page 13
continued...
The Devon Federation of Young Farmers Clubs
- EX GRATIA PAYMENTS
Notes to the Financial Statements - continued for the Year Ended 34st August 2023
Ex Gratia payments were made to officers in the form of honorariums in the year totalling £5,588, all of which were trustees during the period under review. These payments were paid in line with the trustees policy on the payment of honorariums which is of standard practice within Young Farmers Clubs.
- COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
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||||||
|---|---|---|---|---|
|Unrestricted|Restricted|Total|
|funds|funds|funds|
|£|£|£|
|INCOME AND ENDOWMENTS|FROM|
|Donations and grants|54,986|20,805|75,791|
|Charitable|activities|
|Charitable|Activities|143,646|21,850|165,496|
|Other trading|activities|26,728|-|26,728|
|investment|income|19|-|19|
|Other income|2,150|-|2,150|
|Total|227,529|42,655|270,184|
|EXPENDITURE|ON|
|Raising funds|129,335|-|129,335|
|Charitable|activities|
|Charitable Activities|81,098|33,702|114,800|
|Other|46,132|-|46,132|
|Total|256,565|33,702|290,267|
|Net gains/(losses} on|investments|(4,671)|-|(4,671)|
|NET iNCOME/(EXPENDITURE)|(33,707)|8,953|(24,754)|
|Transfers|between funds|(542,343)|542,343|-|
|Net movement|in funds|(576,050)|551,296|(24,754)|
|RECONCILIATION|OF|FUNDS|
|Total funds|brought forward|833,492|35,153|868,645|
|TOTAL FUNDS CARRIED FORWARD|257,442|586,449|843,891|
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Page 14
continued...
The Devon Federation of Young Farmers Clubs
Notes to the Financial Statements - continued for the Year Ended 34st August 2023
11. TANGIBLE FIXED ASSETS
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||||||
|---|---|---|---|---|
|Fixtures|
|Freehold|and|
|property|fittings|Totals|
|£|£|£|
|COST|
|At|ist September 2022|605,616|63,725|669,341|
|Additions|-|3,052|3,052|
|At 31st August 2023|605,616|66,777|672,393|
|DEPRECIATION|
|At|1st September 2022|73,385|40,136|413,521|
|Charge for year|10,112|7,200|17,312|
|At 31st August 2023|83,497|47,338|130,833|
|NET BOOK VALUE|
|At 31st August 2023|§22,119|19,441|541,560|
|At 31st August 2022|532,231|23,589|555,820|
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The Amory Building, Cheriton Bishop is a freahoid property 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 at 2% on a straight line basis has been provided against the building element of the total cost of the property.
12. FIXED ASSET INVESTMENTS
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||||
|---|---|---|
|Listed|
|investments|
|£|
|MARKET VALUE|
|At|ist September 2022|249,181|
|Disposals|(12,243)|
|Revaluations|(16,109)|
|At 31st August 2023|220,829|
|NET BOOK VALUE|
|At 31st August 2023|220,829|
|At 31st August 2022|249,181|
----- End of picture text -----
There were no investment assets outside the UK.
Cost or valuation at 31st August 2023 is represented by:
----- Start of picture text -----
|||||
|---|---|---|---|
|Listed|
|investments|
|£|
|Valuation|in|2020|96,023|
|Valuation|in|2021|47,829|
|Valuation|in|2022|(4,671)|
|Valuation|in|2023|(8,142)|
|Cost|87,790|
|220,829|
----- End of picture text -----
Page 15
continued...
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|The|Devon|Federation|of Young|Farmers|
|Ciubs|
|Notes|to|the|Financial|Statements|- continued|
|f|Year|E|1st|Ai|2023|
|13.|STOCKS|
|2023|2022|
|£|£|
|Stocks|2,014|2,472|
|14,|DEBTORS:|AMOUNTS|FALLING|DUE WITHIN|ONE YEAR|
|2023|2022|
|£|£|
|Other debtors|9,831|20,056|
|Prepayments|16,902|4,469|
|26,733|24,525|
|15.|CREDITORS:|AMOUNTS|FALLING|DUE WITHIN|ONE|YEAR|
|2023|2022|
|£|£|
|Other creditors|32,029|16,932|
|Accrued|expenses|6,779|3,049|
|38,808|19,981|
|16.|MOVEMENT|IN|FUNDS|
|Net|Transfers|
|movement|between|At|
|At|1.9.22|in funds|funds|31.8.23|
|£|£|£|£|
|Unrestricted|funds|
|General fund|215,472|(54,683)|{4,300}|156,489|
|Life|skills|Project|23,970|1,702|-|25,672|
|Amory|Building|Maintenance|18,000|-|3,000|21,000|
|257,442|(52,981)|(1,300)|203,161|
|Restricted|funds|
|Intemational Youth|Exchange|22,780|8,156|1,300|32,238|
|John|Spear Memorial|Funds|2,501|(650)|-|1,851|
|George|Hingston Memorial|Funds|2,964|-|-|2,964|
|Joy|Retter Memorial Funds|101|-|-|401|
|Todd|Rigg Memorial|Fund|9,955|(650)|-|9,305|
|Alarm & CCTV System|5,279|(586)|-|4,693|
|Amory|Building|§32,231|(10,112)|-|522,119|
|Life|skills|Project|10,638|(827)|-|9,811|
|Capital grant from SW Area|.|500|:|500|
|586,449|(4,169)|1,300|583,580|
|TOTAL FUNDS|843,891|(57,150)|-|786,741|
----- End of picture text -----
Page 16
continued...
The Devon Federation of Young Farmers Clubs
tes to the Fi nts - contin for the Year Ended 31st August 2023
- MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are as follows:
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Incoming|Resources|Gains and|Movement|
|resources|expended|losses|in funds|
|Unrestricted|funds|£|gE|£|£|
|General fund|257,437|(313,769)|1,649|(54,683)|
|Life|skills|Project|7,270|(5,568)|-|1,702|
|Restricted|funds|264,707|(319,337|}|1,649|(52,981)|
|International|Youth|Exchange|24,883|(16,727)|-|8,156|
|John Spear Memorial Funds|-|(650)|-|(650)|
|Todd|Rigg|Memorial|Fund|-|(650)|<|(650)|
|Alarm & CCTV System|-|(586)|-|(586)|
|Amory Building|-|(10,442)|-|(10,112)|
|Life|skills|Project|3,000|(3,827)|-|(827)|
|Capital grant from SW Area|500|-|-|500|
|28,383|(32,552)|-|(4,169)|
|TOTAL FUNDS|293,090|(351,889)|1,649|(57,150)|
|Comparatives|for movement|in funds|
|Net|Transfers|
|At|movernent|between|At|
|1.9.21|in funds|funds|31.8.22|
|£|£|£|£|
|Unrestricted|funds|
|General fund|187,201|(30,905)|59,176|215,472|
|Life|skills|Project|26,772|(2,802)|-|23,970|
|New Building|604,519|-|(604,519)|-|
|Amory|Building Maintenance|45,000|-|3,000|18,000|
|Restricted|funds|833,492|(33,707)|(542,343)|257,442|
|International Youth|Exchange|18,878|2,702|1,200|22,780|
|John Spear Memorial|Funds|3,101|-|(600)|2,501|
|George|Hingston Memorial|Funds|2,963|-|-|2,963|
|Joy|Retter Memorial|Funds|101|-|-|101|
|Todd Rigg Memorial|Fund|10,110|445|(600)|9,955|
|Alarm & CCTV System|-|5,280|-|5,280|
|Amory|Building|-|(10,142)|542,343|532,231|
|Life|skills|Project|-|10,638|-|40,638|
|35,153|8,953|542,343|586,449|
|TOTAL FUNDS|868,645|(24,754)|-|843,891|
----- End of picture text -----
Page 17
continued...
The Devon Federation of Young Farmers Clubs
Notes to the Financial Statements - continued for the Year Ended 31st August 2023
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
----- Start of picture text -----
||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Incoming|Resources|Gains and|Movement|
|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted|funds|
|General fund|225,679|(251,913)|(4,671)|(30,905)|
|Life skills|Project|1,850|(4,652)|-|(2,802)|
|227,529|(256,565)|(4,671)|(33,707)|
|Restricted|funds|
|Intemational Youth|Exchange|21,850|(19,148)|-|2,702|
|Todd|Rigg|Memorial|Fund|-|445|-|445|
|Alarm & CCTV System|§,941|(661)|-|5,280|
|Amory|Building|-|(10,112)|-|(410,112)|
|Life|skills|Project|14,864|(4,226)|-|40,638|
|42,655|(33,702)|-|8,953|
|TOTAL FUNDS|270,184|(290,267)|(4,671)|(24,754)|
|A current|year|12|months|and|prior year|12|months|combined|position|is|as|follows:|
|Net|Transfers|
|movement|between|At|
|At|1.9.21|in funds|funds|31.8.23|
|£|£|£|£|
|Unrestricted|funds|
|General fund|187,201|(85,588)|54,876|156,489|
|Life|skills|Project|26,772|(4,100)|-|25,672|
|New Building|604,519|-|(604,519)|-|
|Amory Building Maintenance|15,000|-|6,000|21,000|
|833,492|(86,688)|(543,643)|203,161|
|Restricted|funds|
|Intemational|Youth|Exchange|18,878|10,858|2,500|32,236|
|John Spear Memorial|Funds|3,101|(650)|(600)|1,851|
|George|Hingston|Memorial|Funds|2,963|-|-|2,963|
|Joy|Retter Memorial|Funds|104|-|-|101|
|Todd|Rigg|Memorial Fund|10,110|(205)|(600)|9,305|
|Alarm & CCTV System|-|4,694|-|4,694|
|Amory|Building|-|(20,224)|542,343|§22,119|
|Life|skills|Project|-|9,811|-|9,871|
|Capital|grant from SW Area|-|500|-|500|
|35,153|4,784|543,643|583,580|
|TOTAL FUNDS|868,645|(81,804)|-|786,741|
----- End of picture text -----
Page 18
continued...
The Devon Federation of Young Farmers Clubs Notes to the Financia! Statements - continued for the Year Ended 3ist August 2023
-
MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
----- Start of picture text -----
Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 483,116 (565,682) (3,022) (85,588)
Life skills Project 9,120 (10,220) - (1,100)
Restricted funds 492,236 (575,902) (3,022) (86,688)
International Youth Exchange 46,733 (35,875) - 10,858
John Spear Memorial Funds - (650) - (650)
Todd Rigg Memorial Fund - (205) - (205)
Alarm & CCTV System 5,941 (1,247) - 4,694
Amory Building - (20,224) - (20,224)
Life skills Project 17,864 (8,053) - 9,811
Capital grant from SW Area 500 - - 500
71,038 (66,254 ) - 4,784
TOTAL FUNDS 563,274 (642,156) (3,022) (81,904)
----- End of picture text -----
Transfers between funds
The John Spear Memorial Fund and the Todd Riggs Memorial Fund both fund travel scholarships. £650 was transferred from each of these to the International Youth Exchange Fund to represent the scholarships awarded to two individuals during the period.
£3,000 has been transferred from the Unrestricted fund to the Designated Amory fund as an annual contribution to cover major renovations to the Amory building, as and when the need may arise.
RELATED PARTY DISCLOSURES
A brother of a trustee, Daniel Grist, was paid a total of £7,771 for communications work during the year. At the balance sheet date, the charity owed £1,478 to Daniel Grist.
The charity also owed £445 to Megan Broom (trustee/director), £764.50 to Vicki Gilbert (trustee/director) and £346.50 to Katie Northmore-Land (trustee/director), Dawn Radford (trustee/director), Anneliese Retallick (trustee/director) and Sophie Bould-Lynch (trustee/director). These amounts are included on the balance sheet within current liabilities. Payroll services were provided during the year by RSJ Farm Business Services, of which S Nicholls (treasurer) is a Partner. Payments for the year totalled £660. The charity also received sponsorship income from RSJ Farm Business Services during the year totalling £260.
The following sponsorship income was received from entities with which existing trustees/directors also act:
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|||||||
|---|---|---|---|---|---|
|Entity|Trustee/DIiractor|Amount|(£)|
|North|Devon|Group YFC|C|Arscott|£650|
|East Devon|Group YFC|E Gay|£1,100|
|Haidon|Group|YFC|K|Grist|£1,300|
|Tarka Group YFC|A|Osbome|£1,300|
|Newton Abbot YFC|A|Retallick|£1,300|
|Devon|County Agricultural|Association|P Wolfgang|£650|
----- End of picture text -----
Page 19
The Devon Federatioof You n g Farmers Clubs
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|tail|en|Fi|lal|Ai|
|for the Year|Ended|31st|August|2023|2023|2022|
|£|£|
|INCOME AND ENDOWMENTS|
|Donations and|grants|
|Donations|& Sponsorship|10,732|30,451|
|Grants|4,500|2,500|
|Affiliation|Levy|100,873|41,700|
|Income from YFC|Supporters|980|1,140|
|114,085|75,791|
|Other trading|activities|
|Sales|and|advertising|in|Year Book &|
|Newsletters|5,918|4,389|
|Income generated from YFC|Centre facilities|23,406|20,165|
|Jobs|Adverts|Board|1,025|1,425|
|Stock movement|(458)|749|
|29,891|26,728|
|investment|income|
|Deposit account|interest|78|19|
|Charitable|activities|
|County|activities|114,147|432,366|
|International|Youth|Exchange|25,718|21,850|
|Lifeskills|project|-|1,850|
|Members’|contribution|to training|7,270|9,430|
|147,138|165,496|
|Other|income|
|Solar panel|income|4,901|2,150|
|Total|Incoming|resources|293,090|270,184|
|EXPENDITURE|
|Raising funds|
|Salaries|12,504|40,633|
|Cost|of fundraising|and|social|activities|112,413|114,929|
|Newsletter & Year Book|costs|3,882|3,773|
|128,799|129,335|
|Charitable|activities|
|County competitions|12,048|10,170|
|Intemational|Youth|Exchange|18,027|18,703|
|Lifeskills project|5,568|7,878|
|Club|support|-|Salaries|21,220|20,217|
|Travel|9,265|5,909|
|Communication & Training|costs|10,292|3,996|
|DBS|- Vetting|checks|1,424|1,153|
|YFC Centre|running|expenses|20,730|11,777|
|Generai|Office expenses|7,434|4,816|
|Carried forward|106,005|84,619|
----- End of picture text -----
This page does not form part of the statutory financial statements
Page 20
TheFederationDevon of Young Farmers Clubs
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Detailed|Statement of Financial|Activities|
|for|the|Year Ended|31st August|2023|2023|2022|
|£|£|
|Charitable|activities|
|Brought forward|106,005|84,619|
|Depreciation of building|10,1142|10,112|
|Depreciation of fumiture & equipment|7,200|7,019|
|Membership|costs|58,183|13,050|
|181,500|114,800|
|Other|
|Salaries|37,552|41,901|
|Professional fees|2,598|2,434|
|Accountancy|1,440|4,800|
|41,590|46,132|
|Total|resources expended|351,889|290,267|
|Net expenditure|before|gains and|losses|(58,799)|(20,083)|
|Realised|recognised|gains|and|losses|
|Realised|gains/(losses) on|fixed asset|
|investments|17,758|12,032|
|Net expenditure|(41,041)|(8,051)|
----- End of picture text -----
This page does not form part of the statutory financial statements
Page 21