Charity registration number 1101337 (England and Wales
Company registration number 04941444
THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
LEGALAND ADMINISTRATIVE INFORMATION
Presldent
Her Royal Highness The Princess Royal KG KT
Deputy President
Jim Wamock, Royal Highland Agricultural Society of Scotland (Retired June 2024)
Chris Fourie, Cape of Good Hope Society, South Africa (Appointed June 2024)
Chalmian
Sir Nitholas Bacon Bt KCVO OBE DL
Charity number
1101337
Company number
04941444
Registered office
Norfolk Showground
Dereham Road
Norwich
England
NR5 OTT
Independent exarniner Roseanne Bennett Bsc {Hons) FCA
17 Walkergate
Berwick-upon-Tweed
Northumberland
TD15 1DJ
Bankers
Royal Bank of Scotland
30 Liston Road
Newbridge
Edinburgh
EH28 8SS
Office Holders
Michael U Lambert LVO, Honorary Secrelary
Allan J Murray, Honorary Treasurer
Simon Orpwood, Honorary Liaison Offi￿r
Will Streatfeild, Next Generation Facilitator (Appointed June 2024)
Tobie Payne. Next Generation Facilitator (Appointed June 2024)
Directors and Trustee5 Billy Martin, Royal UlsterAgricultural Society (Retired June 2024)
Theresa Morrissey. Royal Ulster Agn￿j[lUral Society (Appointed June 2024)
Christopher P Riddle. Royal Cornwall Agricutlural Association
Christine A Knipe. Royal Agricultural Society of England
Iliam F Arnott. Royal Highland and Agricultural Society of Scotland
Rebecca Dawes, Royal Highland and Agricultural Society of Scotland
Aled R Jones, Next Generation Facilitator (Retired June 2024)
Will Hyde, Next Generation Facilitator (Retired April 2024)
Janelle Anderson (Co-opted) Royal Northem Agricultural Society (Appointed June 2024)
Will Prichard (Co-opted)
Robert N F Drewett, Royal Bath and West of England Society
Julian Taylor, Royal Norfolk Agri¢ultural Society
Overseas Trustees
John Bennett. ASA and RAS NSW, Australia (Retired June 2024)
Timothy Capp, Ag Shows NSW, Australia
Breyton Milford. Agri-Expo, Soulh Africa
Oaniel O'connor, Royal National Agr & Ind Association of Queen51and. Australia (Appointed
June 2024)

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Trustees report
Independent examiner's report
Statement of financial activities
9-10
Balance sheet
11
Notes to the financial statements
12-22

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
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, which for
the purposes of this report and financial statement, include the Office Holders, Directors and Trustees and Overseas
Trustees (and referen￿S to the Trustees will be construed accordingly).
The financial statements have been prepared in a￿OrdanCe with the accounting policies set out in note 1 to the
financial statements and comply with the Society's governing documenl. the Companies Act 2006 and 'Accounting
and Reporting by Charities.. Statement of Recommended Practice applicable to tharities preparing their accounls in
accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)"
(effeotive 1 January 2019).
Objectives and activities
The Royal Agricultural Society of the Commonweallh rthe Society.) encourages member Societies to exchange
infomiation which will be of benefit to the rural economy of Commonwealth countries.
The principal objective is to plan and hold a biennial Commonweallh Conference to give RASC members, and other
interested organisalions allied lo farming, the opportunity to ne￿Ork and explore their interests and mutual
problems in agriculture.
A second major objective is to encourage high standards within Agricultural Shows and to strengthen and improve
relationships beiween the Member Show Societies within the Commonweallh. The biennial Chief Executives,
Seminar provides the perfect platfomi for this.
The young people of today are the leaders of tomorrow and the Next Generation Forum held immedialely prior to
the biennial conferen￿ is designed to enable them to play their part in the development of the RASC and their own
Souelies.
As a means of exploring agriculture and agricultural techniques, the RASC. in addition to its biennial Conference,
aims to facililate short tours, seminars and discussion groups bolh wilhin and outside the Commonwealth where
these are of benefil lo the Society's members.
Third Wortd poverty brought about by food shortage is a matter of concern to everyone and the RASC aims to
encourage Member Societies in developed counlries lo raise Iheif sights beyond their local environment towards
those countries where agricultural education and expertise is urgently needed to enable food production lo be
increased.
Being the only Commonweallh agricultural Non Govemmental Organisation (NGO), the RASC seeks to work more
losely with the Commonwealth Secretariat and to participate in setting the agenda for agriculture in Ihe
Commonwealth.
The RASC will consider licensing its name and reputation where others wish to produce publications for the transfer
of technical knowledge of benefit to its members and their activities.
Communication wtth Member Societies, Commonwealth organisations and other interested parties is paramount. In
addition to personal and professional contacts by Honorary Officers and Trustees, Ihis is achieved through its
website and by the production and circulation of a quarterly RASC Newsletter. These media sour￿$ provide not
only news about Member Societies but also information on agricultural researth, education and the work of other
Commonwealth organisations.

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Strategy adopted by the Trustees to implement the objectives
Honorary Officeholders supported by Trustees. worked on the implementation of the Recommendations of The
Strategic Sub Group. These induded..
Setting up 4 Sub Groups in 2021 to help wilh the implementation of the work of RASC. These were
Finance. Membership and Communicalions, conferen￿ and Next Generation. Each of these sub groups
consisted of a Chairman and 3 or4 otherTrustees',
Seeking to work more closely with the Commonwealth Secretariat:
En￿uragIng Trustees to continue Iheir regular contact with Member Societies;
Publishing monthly electronic editions of the RASC Newsletter.. and
The ongoing implemenlation of the strategy review.
Public benefit
The Trustees have had due regard to the Charity Commission's guidance lo public benefit. The main activities
undertaken to further the Society's purposes for the public benefit are, through the biennial Commonwealth
Agriculture Conference and other short tours and seminars, to support Agricultural Shows and the nexl generation
of leaders in the Agricultural sector around the Commonwealth in exploring and shafing new agricultural techniques.
Achievements and performance
Biennial conference
The Society's principal activity is to organise a biennial Commonweatth Agricultural Conference. these being
cancelled in 2020 and 2022 due to Ihe Global Pandemic. The conferen￿ returned in 2024. with Ihe event being
held in Edinburgh Scotland in June. to coincide with the Royal Highland Show. The conferen￿ was a great
success and together with a pre-cOnferen￿ Tour, generated a good surplus for the Society.
Some 141 delegates attended Ihe main Conference, with a good attendance for the CEO and Next Generation
meetings. A suc￿sSful pre-conference Tour was organised in Central Scotland, showcasing the best in Scottish
Agriculture and its associated industries.
The Society is most grateful fr)r the generous sponsorship received from the National Westminster Bank Group.
Work has now started on the 2026 Commonwealth Agricultural Confereno, to be held in Cape Town South AfriGa in
November 2026.
Membershlp
There are a total of 51 Member Societies {2023'. 52), 17 Full Member Societies (2023= 17) and 34 Associale
Member Societies (2023= 35). Some 14 (2023.. 11) individuals known as "Fiiends of the RASC" paid an annual
subscription of £25. They have no voting rights.
Senior Officers of the RASC and Trustees have visited in recent years a number ofAgricultural Shows and Member
Organisations throughout the Commonwealth to promote the Society's objectives and to thank sponsors and friends
for their support.
Promotion
Website
The RASC website underwent a complete revamp in line with last years Conference, significantly enhancing the
organisation's professional image and online presence. The site continues to be managed by Rebecca Maitland in
collaboration with Roslin Design.
Social media
We've seen consistent monthly growth in reach, followers and engagement. across all our social media platforms -
including- Fa￿boOk, Twitter, Linkedln and Instagram. These channels remain active and vibrant through the regular
sharing of stories, news and updates from across the Commonwealth.

THE ROYAL AGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Newsletter
A newsletter is issued each month via Mailchimp, now reaching over 300 subscribers. The open rate remains
steady at an encouraging 55 /4. Each edition offers a broad range of news, updates and insights from across the
RASC nehvork. including contributions from Member Societies and Commonwealth organisalions.
The newsletter continues to serve as a valuable resour￿ for members, keeping them informed and connected.
Member Societies are encouraged to share and circulate it further within their own networks. We also warmly
welcome the submission of news, stories and articles to be featured in future issues.
A brand new, dedicated newsletter for the "Next Generation. has been announced for 2025 and will be shared soon.
Next generation
The Next Generation (NG) conlinues to grow from slfength lo strength, and in July 2025 after a break because of
the COVID Pandemic an Understanding and Assistance Mission will take place in Botswana. a country with no
RASC Membership at present.
Fundraising
The Society understands ils duty to protect the public, induding vulnerable people, from unreasonably intrusive or
persistent fundraising approaches and undue pressure to donate. It does not currently fvndraise from the public or
use any internal fundraisers or external fundraising agencies for either telephone or faCe-t￿face campaigns and
received no fundraising complaints during the year.
Financial review
Membership subscriptions
Membership subscriptions are calculated using a syslem that takes into account faimess, the ability to pay and the
relative power of the local currency. In setting the base subscription rates for Members, recognition was taken of:
a) UK and non-UK origin;
b) Developed and developing countries- and
c) Large or small Societies.
This led to six basic rates and in addition rates were set for Associate Members - developed and developing
countries.
Report of the treasurer
The draft finanaal statements for 2023 were submitted to the Board of Trustees at their board meeting in London on
27 February 2024. After consideration, the financial result5 were approved for submission to the Annual General
Meeting held al the Conference in Edinburgh on 27 June 2024.
The surplus on operating activities for this year, 2024 was £50,828 (2023.. Surplus of £11,692).
SubscAiption levels were maintained throughout the society membership and l am pleased to say we had a very
good response from Societies (49) plus two new members. We also appreciate and thank individuals who support
us through Friends of RASC. The biennial Conference has a big effect. with societies paying their subscription to
benefit any of their members who wish to attend the Conference and the numbers of delegates reflected this. With a
good surplus for 2024, RASC are in a good financial way.
Communications are very much part of the remit of RASC and monthly newsletters keep everyone updated on
many events I show throughout the Commonwealth. Rebecca Maiuand does a fantastic job with the
Communications and new podcasts are now beginning to involve more people presenting on many issue.
The 2025 Mission of Understanding is all organised, with nine Next Generation delegates going to Botswana in July.
RASC thanks a very generous donor for funds to assist the delegates on this tour. Our thanks to Michael Lambert
for helping to organise this great trip for the NG'S.
Organisation has started with Breyton Milford in the Cape of Good Hope for the 2026 Conferenr*, with Julian Taylor
co-ordinating il all for the Trustees.

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The inveslment portfolio has perfomied well throughout 2024 with the stock market performing well in the 8,400
levels. At the end of 2024 the value of investments stood at £214,665 (2023: £201.573). The Trustees continue to
pay close attention to the investmenl policy.
As noted on the Balance Sheet on page 11, the Society is exempt from a formal annual financial audit. Instead an
Independent Examiner is appointed with their responsibilities being as set out in their report detailed on page 8. The
Trustees recommend that Roseanne Bennett of Greaves. West & Ayre be re-appointed for a further twelve months
as the Independent Examiner to the Society.
General reserves pollcy
The general unrestricted fvnd is held to support administration and overhead cosls. The intention is Ihat this should
be grown and maintained in surplus. Such unrestricted income is expendable at the discretion of the Trustees in the
furtherance of the objectives of the Society and may be held to finance bolh working capital and capital investment.
As at the 31 December 2024 the level of unrestricted rese￿eS held was £255,268 (2023= £2t)4,440), which is
considered sufficient to support the operalions of the Society for al least twelve months from the date of the balan
sheet.
Other furFds of £43.597 (2023.. £43,597) are specifically restricted to identifiable projects.
Investment poli¢y
The Trustees primary objectives when investing are to invest the assets in such a way as to maximise capital value
through a combination of capital growth and income generation, subject to an acceplable level of risk in order to
provide a sustainable flow of funds when required to support the Society's charitable activities.
Risk management
The Trustees have the overall responsibility for ensuring that the Society has an appropriate system of controls.
financial and olherwise. The systems of financial control are designed to provide assurance against material
misstatement or loss. They include=
Regular meetings of the Trustees, at which the financial health of the Society is reported and discussed-
Written policy as to the management of Ihe Society's fijnds by third parties., and
Financial prO￿dureS lo ensure the proper disbursemenl of monies owing by the Society.
The Trustees have reviewed major risks and eslablished systems together with appropriate monitoring procedures
to mitigate them. The key risk controls used indude..
Formal agendas and minutes for all Commlttees and Board activity..
Comprehensive strategic planning, budgeting and management accounting-,
Established organisational structure and lines of reporting,. and
Clear authorisation and approval levels.

THE ROYAL AGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management
The Society is a registered charity and a company limited by guarantee and is govemed by its Memorandum and
Articles of Association. The Society wa5 incorporated on 23 October 2003 and commenced activities on 1 January
2004. The assets of the Society were transferred into the company limitèd by guarantee on 1 January 2004 from the
unincorporated Society. The Directors and Trustees are listed on below.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to
the date of signature of the financial statements were..
Chairman
Sir Nicholas Bacon Bl KCVO OBE DL
Office Holders
Michael Lambert LVO. Honorary Secrelary
Allan J MU￿ay, Honorary Treasurer
Simon Orpwood. Honorary Liaison Officer
fill Slreaffeild. Nexl Generation Facililator (Appointed June 2024)
Tobie Payne, Next Generation Facilitator (Appointed June 2024)
Directors and Trustees
Billy Martin. Royal UlslerAgricultural Society {Retired June 2024)
Theresa Morrissey. Royal Ulster Agricutlural Society (Appointed June 2024)
Christopher P Riddle, Royal Cornwall Agricultural Association
Christine Knipe, Royal Agricultural Society of England
William Amott, Royal Highland and Agricultural Society of Scotland
Rebecca Dawes. Royal Highland and Agricultural Society of Scotland
Aled Jones, Nexi Generation Facilitator (Retired June 2024)
Will Hyde. Next Generation Facilitator (Retired April 2024)
Janelle Anderson (Co-opted) Royal Northem Agricultural Society (Appointed June 2024)
Will Prichard {Co-OPted)
Robert N F Drewell. Royal Bath and West of England Society
Julian Taylor. Royal Norfolk Agricultural Society
Overseas Trustees
John Bennett, ASA and RAS NSW, Australia (Retired June 2024)
Timothy Capp, Ag Shows NSW. Australia
Breyton Milford, Agri-Expo, South Africa
Daniel O'connor. Royal National Agr & Ind Association of Queensland. Auslralia (Appointed June 2024)
The Board of Trustees
The Society is managed by the Board of Trustees who are responsible for the general management and control of
the affairs and assels of the Society. The Trustees who shall number not less than nine and not more than
seventeen are both tharity Trustees for the purpose of the Charities Act 2011 and directors of the charitable
company for the purpose of the Companies Act 2006.
At 31 December 2024, there were ten elected Trustees (three of whom were resident overseas and seven in the
UK) and two co-opted Trustees, together with seven Honorary Officers (Deputy President, Chairman. Honorary
Treasurer, Honorary Secretary, Honorary Liaison officer (Press Secretary) and Iwo Honorary Next Generation
Facilitators).
Trustees are ele¢ted by the Full Members of the Society following nomination by them or by recommendation by the
Board of Directors. Trustees seNe a term of three years. They may stand for re-election. Nomially, one overseas
and two UK Trustees retire in rotation each year.

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
President.. The presidenl is HRH The Princess Royal KG KT.
Honorary Officers
Deputy President= Appointed by the Trustees, frorn a nomination of the conferen￿ Host Society to deputise for the
President or Wi￿ President when necessary.
Honorary Chairman.. Elected at the Annual General Meeting for a term of not more than four years but such term
may be extended for a further term of not more than four years.
Honorary Secretary= Elected al the Annual General Meeting on an annual basis, reporting io the Trustees and , in
liaison wilh the Honorary Treasurer and Honorary Press Secretary, responsible for the day lo day management and
administration of the Society.
Honorary Treasurer= Eleded at the Annual General Meeting on an annual basis. Reporting to the Trustees, the
Treasurer works in close liaison with the Honorary Secretary and is responsible for the finan￿$ of Ihe Society.
Honorary Liaison OffI￿r (Press Secretary).. Elected at the Annual General Meeting on an annual basis and
reporting to the Trustees. Working in dose liaison with the Honorary Secretary and responsible for the publication of
the RASC News and all media matters.
Honorary Next Generation Facilitators.. Elected at the Annual General Meeting on an annual basis, reporting through
the Honorary Secretary to Ihe Trustees, to facilitate the activities of the Next Generation Forum at the Conference.
Honorary Fellows
Elected by the Trustees and restricted lo members of or those who administer Member Societies or Ihe RASC and
who have made an outstanding contribution to the RASC. Honorary Fellows, while enjoying the right lo attend and
to speak at any general meeting. may not vote.
Statement of trustees responsibilities
The Trustees, who are also the directors of The Royal Agricultural Society of the Commonwealth for the purpose of
company law, are responsible for preparing the Trustees Report and the accounts in accordance wrih applicable
law and United Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting Practice).
Company Law requires the Trustees to prepare accounts for each financial year which give a true and fair view of
the state of affairs of the Society and of Ihe incoming resources and application of reSoUr￿s, including the income
and expenditure, of the charilable company for that year.
In p￿parIng these accounts. the Trustees are required to..
select suitable accounting policies and then apply them consistently,.
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent..
slate whether applicable UK Accounting Standards have been followed, subject to any material departures
disdosed and explained in the accounts., and
prepare the accounts on the going concern basis unless it is inappropriate to presume that Ihe Society will
continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any tirne the financial position of the Society and enable them to ensure that the accounts comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the Society and hence for taking
reasonable steps for the prevention and delection of fraud and other irregularities.

THE ROYAL AGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees report was approved by the Board of Trustees.
Mr Michael Lambert LVO
Trustse
Date..

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE ROYAL AGRICULTURAL SOCIETY OF THE
COMMONWEALTH
I report to the Trustees on my examination of the financial statements of The Royal Agricultural Society of the
Commonwealth (the Society) for the year ended 31 December 2024.
Responsibilities and basls of report
As the Trustees of the Society (and also ils 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.
Having satisfied myself that the financial statements of the Society are not required to be audrted under Part 16 of
the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the
Society's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my
examination I have followed the Directions given by the Charity Commission under section 145{5)(b) of the Charities
Act2011.
Independent examinerfs statement
Since the Society's gross income exceeded £250.000, the independent examiner must be a member of a body
listed in section 145 of the Charities Act 2011. 1 confirm that l am qualified to undertake Ihe examination because I
am a member of the Institute of Chartered Accountants in England and Wales. which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection wtth the
examination giving me cause to believe that in any material ￿spect=
accounting records were not kept in respect of the Society as required by section 386 of the Companies Act
2006.
the financial statements do not accord with those records., or
the financial slatements do not comply with the accounting requirements of section 396 of the Companies Act
2006 other than any requirement that the financial statements give a true and fair view, which is not a matter
considered as part of an independent examination.. or
the financial statements have not been prepared in accordan￿ with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities applicable to charities
preparing their accounts in accordan￿ with the Financial Reporting Slandard applicable in the UK and
Republic of Ireland (FRS 102).
I 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.
Roseanne Bennett Bsc IHons) FCA
17 Walkergate
Berwick-upon-Tweed
Northumberland
TD15 1DJ
Date: .

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Current financial year
Unrestricted Unrestricted
funds
funds
general deslgnated
2024
2024
Restrfcted
funds
Total
Total
2024
2024
2023
Notss
Income from:
Donations and legacies
Charitable activities
Other trading aclivities
Investments
5,000
15,153
80
6,019
5,000
248,557
80
6,019
233.404
12,499
5,514
Total income
26,252
233,404
259.656
18,013
Expenditure on:
Raising funds
Charitable activÈties
1,677
16.658
1,677
221.835
1,598
14.377
205,177
Total expenditure
18,335
205.177
223.512
15.975
Net gainsl{losses) on
investments
10
14,684
14.684
9,654
Net income
22.601
28,227,
50,828
11,692
Transfers be￿een funds
28,227
(28.227)
Net movement In funds
50.828
50,828
11,692
Recon¢iltation of funds:
Fund balances at 1 January 2024
194,440
10,000
43.597
248,037
236,345
Fund balances at 31 December
2024
245.268
10,000
43,597
298.865
248.037
The statement of financial activities includes all gains and losses recognised in the year. All incorne and expenditure
derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Prior flnancial year
Unrestricted Unrestrlcted
funds
funds
general designated
2023
2023
Restricted
funds
Total
2023
2023
Notes
Income from:
Charitable activities
Investments
12.499
5.514
12.499
5,514
Total income
18.013
18,013
Expenditure on:
Raising funds
Charitable activities
1,598
14.377
1,598
14,377
Total expenditure
15,975
15,975
Net gainsl(losses) on investments
10
9,654
9,654
Net income and movement in funds
11,692
11,692
Re¢on¢iliation of funds:
Fund balan￿$ al 1 January 2023
182.748
10,000
43,597
236.345
Fund balances at 31 December 2023
194.440
10,000
43,597
248,037
10-

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Fixed assets
Investments
14
214,665
201,573
Current assets
Stocks
Debtors
Cash at bank and in hand
15
16
500
2,404
94,196
3.699
13.281
46.773
97,100
63.753
Creditors: amounts falling due wlthin
one year
17
(12.900)
{17,289)
Net current assets
84,200
46.464
Total assets less current liabilities
298.865
248,037
The funds of the Society
Restricted income funds
Unrestricted funds- general
Unrestricted funds- designated
19
21
20
43.597
245.268
10,000
43,597
194,440
10.000
298,865
248,037
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 lo obtain an audit of its financial statements for the year in question in
accordan￿ with section 476.
These financial statements have been prepared in accordance w¢lh the provisions applicAble to companies subject
to the small companies regime.
The financial stslements were approved by the Trustees on .........................
MrAllan Murra
Trustee
Company registration number 04941444 (England and Wales)
11

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting pollcles
Charity infonnation
The Royal Agricultural Society of the Commonwealth is a private company limited by guarantee incorporated
in England and Wales. The registered office is Norfolk Showground. Dereham Road. Norwich, England. NR5
OTT. As at 31 De￿mber 2024 there were 51 (2023". 52) member societies. each of whom has agreed to
contribute £1 in the event of the Society winding up.
1.1 Accountlng convention
The financial statements have been prepared in accordance with the Society'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 PractiTr applicable to charrties preparing their accounts in accordance wtth the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The
Society is a Public Benefit Entity as defined by FRS 102.
The Society 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 steding. which is the functional currency of the Soctely. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention wtlh the exception of the
investments which are included at fair value, their market value. The principal accounting policies adopted are
set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that Ihe Society
has adequale resources to continue in operational existence for Ihe foreseeable future. Thus the Trustee5
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable
objectives.
Designated funds comprise funds which have been set aside at the discretion of the Truslees for specific
purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
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.
1.4 Income
Income Is recognised when the Society is legally entitled to it after any perf0mlan￿ 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 Society has been notified
of the donation, unless performance conditions require deferral of the amount.
Legacies are recognised on receipt or otheNise if the Society 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 assel.
Membership subscriptions are recognised in the year in which they are received.
12-

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting pollcles
(Continued)
Investment income comprises dividends receivable during the year on listed investments held within the
investment portfolio.
Income received in respect of future Conferences is carfied forward as current liabilities on the balance sheet
and are accounted for in the Statement of Financial Activities in the year in which the Conferen￿ takes place.
Conference income reflects all monies re￿iVed relating to cOnferen￿S which occurred in the year to the
balance sheet date.
1.5 Expenditure
All expendilure is accounted for on an accruals basis. Costs are allocated to appropriate headings, based on
the activities to which they are attributable.
Management and administration costs are those incurred in connection with the administration of Ihe Society
and compliance with constitutional and statutory requirements.
conferen￿ expendilure indudes both direct costs and other overhead expenditure and is recognised in the
Slatemenl of Financial Activities in the year in which il is occurred.
1.6 Fixed asset investments
Fixed asset inveslmenls are initially measured at transaction price excluding transaction costs, and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
incomel(expenditure) for the year. Transaction costs are expensed as incurred.
1.7 Stocks
Stock is included at the lower of cost and net realisable value and indudes lies for prom()tional purposes.
1.8 Cash and cash equivalents
Cash and cash equivalents indude cash in hand. deposits held al call with banks, other short-temi liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in Current liabilities.
1.9 Financial instruments
The Society has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues. of FRS 102 lo all of its financial instruments.
Financial inslrumenls are recognised in the Society's balan￿ sheet when the Society becomes party to the
conlfactual provisions of the instrumenl.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right lo set off the recognised amounts and there is an intention to sellle on a net
basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtor5 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.
13-

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED>
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng policies
{Continued)
Basic financlal 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 al the present
value of the future payments discounted at a market rate of interesl. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate melhod.
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 oi financial liabilities
Financial liabilities are derecognised when the sO￿ety's contractual obligalions expire or are discharged or
cancelled.
Critical accounting estimates and judgements
In the application of the Society's accounting policies, the Trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities thal are not readily apparent
from other sources. The eslimates and associated assumptions are based on historical experien￿ and other
factors that are considered to be relevant. Actual results may drffer from these estimates.
The eslimates and underlying assumpiions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which Ihe estimate is revised where the revision affects only Ihat
period. or in the period of the revision and fijture periods where the revision affects both currerrt and future
periods.
Income from donations and legacies
Unrestricted
funds
2024
Unrestricted
funds
2023
Donations and gifts
5.000
The Society is most grateful to its Honorary Officers and Trustees who devote many hours lo Society
activities. Their time cannot be quantified in financial terms.
14-

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from charitable actlvities
Unrestricted Restrtcted
funds
funds
general Edinburgh
onference
Total Unrestrictsd
funds
genernl
2024
2024
2024
2023
Subscriptions and delegate conference income
conferen￿ sponsorship
Conference other income
15,153
188,928
42.378
2,098
204,081
42.378
2.098
12,499
15.153
233,404
248.557
12,499
Analysis by fund
Unrestricted funds - general
Restricted fvnds
15,153
15,153
233.404
12.499
233,404
15,153
233,404
248.557
12,499
Income from other trading activities
Unrestricted Unrestricted
funds
funds
2024
2023
Sale of Society lies
80
Income from investments
Unrestricted Unrestricted
funds
funds
2024
2023
Income from listed inveslmenls
Interest receivable
5,984
35
5,471
43
6,019
5,514
15-

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure on raising funds
Unrestrictsd Unrestrlcted
funds
funds
2024
2023
Investment management fees
1,677
1,598
Expenditure on charitable activities
Unrestricted Restricted
funds
funds
general Edinburgh
conference
2024
Total Unrestricted
funds
general
2024
2024
2023
Direct costs
Insuran
Website costs
Honorary Officers travelling expenses
Bank charges
Postage. printing and stslionery
Conference administration and publicity expenses
Conference visils and transportation expenses
Conference accommodation expenses
Conference catering and entertainment expenses
640
7,182
4,932
331
609
48,180
15,870
107.807
33,320
640
4.378
6,534
276
106
7.182
4.932
331
609
48,180
15,870
107,807
33,320
13,694
205.177
218.871
11,934
Share of support and govemance costs (see note 91
Govemance
2.964
2,964
2.443
16,658
205,177
221,835
14,377
Analysis by fund
Unrestricted funds - general
Restricted funds
16,658
16,658
205,177
14,377
205,177
16.658
205,177
221,835
14.377
16-

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Support costs
Governancè
costs
2024 Governance
costs
2023
AcGountan¢y and independent éxamination fees
2,964
2,964
2,443
2,443
2,964
2,443
2,443
Analysed between
Charitable activities
2,964
2,964
2,443
2,443
Governance costs includes payments to the Independent Examiner of £1.000 (2023.. £950) for independent
examination fees.
10 Gatns and losses on investrnents
Unrestricted Unrestricted
funds
funds
2024
2023
Gainsl(losses) arising on..
Revaluation of inveslments
Sale of investments
13,547
1,137
(5,131)
14.785
14,684
9,654
11 Trustees
None of the Trustees (or any persons connected with them) re￿iVed any remuneration or benefits from the
Society during the year (2023: None)
Travelling and other expenses totalling £4,932 (2023-. £4,884) were reimbursed to or paid in respect of 3
{2023= 6) of the Society's Honorary Officers and Society Officials attending meetings and COnferen￿S during
the year.
12 Employees
There were no employees during the year (2023= None}
13 Taxation
The Society is exempt from taxation on ils activities because all its income is applied for charÈtable purposes.
17-

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Fixed asset Investments
Listed
investments
Cash in
portfolio
Total
Cost or valuation
Al 1 January 2024
Additions
Valuation changes
Disposals
199,699
36,989
14.684
(43.858)
1.874
49,878
201,573
86.867
14,684
(88,459)
(44,601)
At 31 December 2024
207.514
7,151
214.665
Carrying amount
At 31 December 2024
207.514
7,151
214,665
At 31 De￿mber 2023
199,699
1.874
201.573
15 Stocks
2024
2023
Stock of Society ties
500
3,699
16 Debtors
2024
2023
Amounts falling due within one year:
Prepayments and accnjed income
2,404
13,281
17 Creditors: amounts falling due within one yèar
2024
2023
Notes
Deferred income
Payments received on account
Trade creditors
Accruals
18
1,200
11.546
2,323
2,220
12,900
12,900
17.289
18-

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18 Deferred income
2024
2023
Arising from Deferred 2024 Member
Subscription Income
1,200
2024
2023
Deferred income is included within..
Current liabilities
1,200
Movements in the year-
Deferred income at 1 January 2024
Resources deferred in the year
1,200
(1 ,200)
1,200
Deferred income at 31 December 2024
1.200
19-

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
19 Restricted funds
The restricted funds of the Society 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
2024
Incoming
resources
Resources
expended
Transfers
At31
December
2024
Next Generation Young Farmer
Fund
2024 conferen￿ Fund
13,597
30,000
13.597
30.000
233.404
(205.177)
{28.227)
43.597
233,404
(205.177)
{28,227)
43,597
Previous year:
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
At31
December
2023
Next Generation Young Farmer
Fund
2024 conferen￿ Fund
13,597
30.000
13,597
30,000
43,597
43,597
The restricted funds are used by the Trustees to correctly dassify and record Ihose funds subject to specific
restricted conditions imposed by the donors.
The Next Generation Young Famier Funds are held in Ofder to fund the attendance of a young farmer at a
future conference or reception.
The 2024 conferen￿ Funds were held in order to stage the 2024 conference which was successfully held in
EdinbLtrgh earlier this year. Trustees are now considering proposals foi the next biennial Commonwealth
Agricullural Conference. due to be slaged in Cape Town. South Africa in 2026.
In order to record the surplus made from the 2024 Edinburgh Conference as Unrestricted General Funds, Ihe
Trustees discussed and approved a transfer of £28,227 from the Restricted 2024 Conference Fund.
-20-

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
20 Unrestricted funds - deslgnated
These are unrestricted funds of the Society whith have been designaled by the trustees frjr specific purposes.
At 1 January
2024
At31
December
2024
Designated Funds
10.000
10,000
Previous year:
At 1 January
2023
At31
December
2023
Designated Funds
10,000
10,000
The unrestricted designated fund is held as a reserve for unexpected expenditure in respect of future
Conferences.
21 Unrestricted funds
The unreslricled funds of the Society is held as a reserve for future Conferen￿$ andlor NG Missions of
Understanding.
At 1 January
2024
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At31
December
2024
General funds
194,440
26,252
(18.335)
28,227
14.684
245,268
Prevlous year: At 1 January
2023
Incoming Resources
resources
expended
Transfers
Gains and
losses
At31
December
2023
General funds
182.748
18.013
(15,975)
9,654
194,440
21

THE ROYALAGRICULTURAL SOCIETY OF THE COMMONWEALTH
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
22 Analysis of net assets between funds
Unrestricted Unrestricted
funds
funds
general deslgnated
2024
2024
Restricted
funds
Total
2024
2024
At 31 December 2024:
Investments
Current assetsl{liabilities)
184.665
60,603
30.000
13,597
214,665
84,200
10.000
245.268
10.000
43.597
298.865
Unrestricted Unrestricted
funds
funds
general designated
2023
2023
Restricted
funds
Total
2023
2023
At 31 December 2023:
Investments
Current asselsl(liabilities)
171,573
22.867
30.000
13.597
201.573
46.464
10.000
194,440
10.000
43,597
248,037
23 Related paty transactions
There were no disclosable related party transactions during the year (2023.. None).
-22-