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2022-11-30-accounts

Charity registration number 1102127

Company registration number 04682208 (England and Wales)

EDENBRIDGE AND OXTED AGRICULTURAL SHOW ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

CHAIRMAN'S REPORT

The focus for our 2022 show was to continue to build on the changes made the previous year.

We continue to tweak showground layout but the horse rings and trade stands remained broadly as per 2021. We did change the traffic directions for coming to the show; this was deemed a success as the local roads remained clear and flowing. Getting people to the show has always been important but also keeping Lingfield and the local area free of traffic was well received.

The weather was the challenge for 2022 with the driest of years. This caused many headaches including issues preparing the showground. Little tasks like knocking posts took a borer and post banger rather than a sledgehammer. We also had a real concern about fire across the ground and put in contingency measures to address this. Luckily the rain the week before the show helped a lot with the dust and fire risk.

The showground team worked so hard to ensure the horse rings were fit for horses to jump on. We received many compliments on how well the ground rode. We were lucky the showground was not in an area subject to restrictions about water use but we were also very conscious of the need to preserve precious resources. The wonderful turnout of horses showed how much the competitors appreciated the work and loved coming to the show.

The Agriculture Committee must be congratulated on their hard work to encourage livestock owners to attend. A comment from one of our cattle judges was that the standard of livestock was one of the best in the country and top herdsmen could be seen the supporting the show. He said we compete alongside the Great Yorkshire, Royal Cornwall and the Royal Welsh - a true credit to our agricultural team.

I was delighted to invite Michael More–Molyneaux and his wife Sarah to the show. Michael is the Lord Lieutenant for Surrey, our then Queen’s representative. Michael and Sarah farm near Guildford and were delighted to see such a strong turnout of livestock.

We visited all areas with the Lord Lieutenant, accompanied by Show President John Downing and his wife Rachel. As I have always been busy at the show this was the first year in which I managed to see all areas. Every person we spoke to showed their enthusiasm for attending the show and for their sector.

I am delighted the President chose to award the Winston Churchill Memorial Trophy for the best exhibit in the show to the Sheep section for their outstanding display, I must thank Jo Masters and her team for all their hard work. It takes many volunteers and a lot of help from young farmers to erect all the rings and pens with the hurdles.

The Diana Barnato Walker trophy was awarded to the Vintage Machinery area. Anthony Bradford and the team from the South East Vintage Agricultural Club produced a really fantastic display of vintage equipment and even managed to bring some steam engines to the show this year.

As members of our society many of you are involved as committee members or volunteers at the show. I would like to thank each and every person who gives up their time, and also your families. Many of the volunteers started helping their parents at the show and people of all ages can be seen working hard. If you wish to become more involved we always welcome new volunteers.

As a member, I thank you for your financial support by way of your membership. I would ask that you continue to support us and if you have any members of your family or friends who you think would like to join us then please do encourage them to do so.

I would also like to thank our sponsors, many whom provide essential financial support. If you think you would like to sponsor a part of the show please contact the office as we have a range of packages to suit various budgets.

I also wish to extend my thanks to Judy and Meghan, our staff in the office who this year had 12 months to put on the show. They both grew from their first year’s experience and continue to improve and develop areas of the show to keep it fresh whilst maintaining our roots in farming and horticulture.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

CHAIRMAN'S REPORT

In my term as Vice Chairman and Chairman, I have appreciated the support and advice that has been received from fellow members of Council. I have learnt a lot. The Show Council consists of so many individuals who come from different backgrounds and are passionate about their sector. Your skills and experience make the show everything we love. The strength in the committees and Council means that we are not reliant on any one person, it truly is a team effort.

It is a sad reality that each year our show loses much loved and familiar faces. Our year began with the news of the death of Bob Isted. A former member of Show Council, Bob gave over fifty years of voluntary service to the show and helped us establish one of the strongest beef cattle competition sections in the south. Then in October we heard of Jeanne Heasman’s passing. Jeanne was a lifelong steward and determined supporter of our dairy cattle section, a familiar sight in the cattle lines with her beloved Ayrshires. Show Council were also saddened to hear of the passing of Roy Mepham in October. Having joined our Country Sports Committee and Council in 1993, Roy gave 26 years of service as a trustee and will be much missed. In November came news of the death of Philippa Marshall at the grand age of 97. A formidable horsewoman with a cracking sense of humour, Philippa served some forty years on our Equestrian Committee, Show Council and even as our Show President.

The 2022 show was also the first following the death in March of Paddy Cruise, our longstanding showground grazier. Paddy loved the show very much and took enormous pride in preparing the land for us each year. We hold all those we have lost this year fondly in our memories.

The financial result for this year was always going to be tight in the face particularly of rising costs. Making a surplus can no longer be taken for granted, even in a dry weather year. I want to thank our Honorary Treasurer, Linda Charlton. Linda ensured that we make cost control a part of every committee’s decision-making. So many of the committees had found savings in the past however that there was little further they could do. I hope that moving forward we will be able to generate some income from the showground so that this can be reinvested into improvements and maintenance.

I hand over the reins to Holly Taylor and Bill Peters who I know want to continue to move the show forward. I look forward to this year’s show, which I hope you will support and attend

LOUISE YOUNG Chairman

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees As listed on Trustees' Report
Charity number 1102127
Company number 04682208
Principal address The Old Dairy
Wintersell Farm
Dwelly Lane
Edenbridge
TN8 6QD
Registered office The Old Dairy
Wintersell Farm
Dwelly Lane
Edenbridge
TN8 6QD
Independent examiner Bruce Chapman BSc FCA CTA
Roger Lugg & Co
12 - 14 High Street
Caterham
Surrey
CR3 5UA
Bankers Lloyds Bank Plc
1-3 London Road
East Grinstead
West Sussex
RH19 1AH
NatWest Bank plc
Oxted (A) Branch
12 Station Road East
Oxted
Surrey
RH8 0PR
Solicitors Mayo Wynne Baxter
43 Cantelupe Road
East Grinstead
West Sussex
RH19 3BL

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

CONTENTS

Page
Trustees' report 1 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9 - 10
Statement of cash flows 11
Notes to the accounts 12 - 23

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2022

The trustees present their annual report and financial statements for the year ended 30 November 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charity exists to promote, advance and improve, for the benefit of the public, agriculture, horticulture, forestry and rural crafts and skills, in all their branches, by the improvement of livestock and the demonstration and showing of livestock, machinery, crafts, products, methods and processes connected with agriculture and agricultural education.

In furtherance of these objects a Show was scheduled to be held on 28 and 29 August 2022.

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

Achievements and performance

To produce our show each year committees of volunteers, each trustee-led, take forward plans for their own section, supported by the Show Office and overseen by a Management Committee which reports to the Show Council. The Show is both a charity and a limited company. Members of Show Council are both trustees and directors.

With livestock showing back to normal across the region the Agriculture Committee expected cattle entries to return to pre-covid levels and anticipated strong entries in the interbreed calf classes that had been introduced in 2021. The Grand Parade of Livestock was moved to lunchtime instead of mid-afternoon and this year featured live judging of the interbreed cattle championships. This was a successful move that brought the excitement of cattle competition to a broader audience.

Sheep entries once again exceeded the prior year’s record and required some reconfiguration of tentage in order to accommodate the increased number of pens. The committee were pleased to see such a wide range of pedigree sheep competing along with an excellent standard of commercial pen entries too. Young handler entries also exceeded any prior year. The Pig section was proud to host the national championships for the Oxford Sandy & Black breed society and for the Kunekune breed – entries in this section so high that the tentage required for housing the entries was almost doubled in size and moved to a new location on the showground to better accommodate its need. Entries in the Goats and in Rabbits & Guinea Pigs were also high in number. Goats were featured alongside competitors from Pigs, Cattle and Sheep, in filming for the BBC’s popular Farmers’ Country Showdown programme. The Agriculture Committee are very grateful to those who participated in the filming for helping to promote such a positive picture of our show.

An increase in prize money and renewed focus on attracting professional trade entries to our Horticultural section meant a strong showing in the Flowers & Vegetables tent which returned to its ‘normal’ proportions in 2022. The section was well-supported by loyal and keen amateur competitors too, enjoying new classes for houseplants and additional classes for children to enter. The WI were located inside this marquee in another new move for 2022. They hosted a show with excellent quality of entries which added further interest to our horticulture marquee.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

The Equestrian Committee had navigated fundamental change in 2021 with a complete move of location for competition rings and access points for competitors. Reassured for 2022 by the positive experience of 2021 the team of stewards and volunteers ensured smooth running of their competitions. The biggest challenge in the runup to the event was concern over the ground condition given the prolonged heat and dry weather. A programme of watering was undertaken by the grounds team with input from the committee. Checks from experts helped ensure that the ground was presented in good condition to allow the full competition to proceed as planned.

A new 65cm unaffiliated showjumping class offered an extra opportunity for local riders at entry level, whilst at the top level the Harwoods-sponsored Main Ring showjumping class changed to follow an exciting accumulator format. A change of route for our coaching marathon took the coaches and carriages past the elegant setting of Crowhurst Place before their parade and presentation, and to answer demand new showing classes were introduced for ridden veterans and Welsh breeds. The reinstatement of a Show Catalogue for 2022 was also welcomed by all.

The Country Sports Committee were pleased to welcome the farrier competition back for 2022 after it was unable to operate in 2021. It was a popular part of the showground for the public to watch and attracted very high entries with farriers travelling considerable distance to compete. There was also a welcome return for the Mole Man who entertained the crowds with his engaging demonstration of mole control. The gundogs once again ran a packed programme of competition, fly fishing tuition and archery were once again able to operate after Covid measures prevented them from operating in 2021, and the dog agility and terrier racing competitions got the crowds cheering once again. The committee remains hopeful that a fun dog show can be reinstated in due course.

Following a dip in numbers in 2021 as many traders ceased operating during Covid, the Trade Stands Committee was pleased to report an increase in traders for 2022 with numbers recovering well. The income level is broadly similar to 2019 level, with a renewed focus and interest from local traders. The committee is keen to offer the Show as a positive place for local businesses to attend, offering new, smaller trade pitches at preferential rates to small businesses from Kent, Surrey & Sussex and reducing Food Hall prices for local traders. The changing layout continues to provide a challenge this committee whose volunteers battled what felt like the wettest day of the summer in 2022 as they were marking out the pitches this year.

The Trade Stands Committee also oversees the show’s catering provision, attracting a greater mix of units and prioritising those from the local area. The catering stands now operate on a clear 20% sales commission basis with the show’s income in this area increasing by almost 40% against pre-covid shows. Feedback from the public is that they value the greater choice now on offer and enjoy seeing our local breweries and specialist food outlets represented. This area remains a work in progress as we continue to grow our reputation as a quality food venue.

Additional focus is now on how the show manages its Members & Sponsors with a new committee formed in 2022. This committee will review the provision of services in the Members’ Marquee at the show and oversee sponsor benefits and experience.

The Gates Committee maintained their oversight function for key elements of the event’s operational requirements, including security, paygates and traffic management. The show relies on significant numbers of volunteers for car parks and paygates, and the committee and trustees offer their grateful thanks to those who so generously give their time. 2022 saw some changes to our traffic management plan as we sought to relieve pressure on Lingfield village in particular. By changing some traffic flow around the A22 and by placing staff to manage the traffic lights at Blindley Heath we managed to largely avoid lengthy queues, even at peak times. This was also the first year the show used a professional parking contractor to assist with parking in our Eastern car parks, helping ensure maximum capacity and efficient movement of vehicles.

The Showground Committee was largely pre-occupied with ground conditions and the challenges of watering equestrian rings in 2022. A length of new hedge was planted in our horsebox field following a successful bid for saplings to the Queen’s Green Canopy project as part of the Jubilee celebrations, and some new fencing was installed for safety on the new Ring 5. A gate was put in the hedge to allow better access for horses to Ring 4.

For 2023 the trustees voted to merge our Gates and Showground committees to form a new Operations Committee.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

The Show’s office team remains as two employed members of staff, assisted by part time resource in the weeks ahead of the show and from freelance contractors. The show’s event management and accounting software is working well and there is a strong focus on controlling costs without compromising quality and character of the event. The office team remains central to supporting the vision of each committee and delivering a best practice example in the industry.

Financial review

Accounts summary

The Trustees report that the net movement in funds for the year was a deficit of £6,207 but this was after a loss on revaluation of investment assets of £14,047 (2021 : surplus of £16,273). The Balance Sheet at the year end remains satisfactory with a total of unrestricted funds not designated amounting to £285,933 (2021 : £269,046).

£3,000 was released from deferred income in the year in relation to life governor subscriptions with a new life governor joining in the year, of which £4,215 was deferred to future periods.

Reserves and investments

It is the policy of the charity that unrestricted funds which have not been designated for a specific use or invested in tangible fixed assets should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.

Investments are discussed with the Show Council but the final decision is made by the Management Committee. We invest in cautious growth together with some income return and the Trustees have appointed Quilter Cheviot to assist them in investment decisions.

Risk management

Every year, the various committees, in conjunction with the Show’s appointed Health & Safety advisor, conduct a review of the principal risks and uncertainties faced in the delivery of the Show. They establish policies and procedures to mitigate the risks identified, such that should those risks materialise, the impact is minimised or managed.

2020 highlighted the risk posed to the activity of charities such as ours from the COVID-19 pandemic when our charity had no choice but to use reserve funds to cover the inevitable loss. Similar risks come from great extremes of weather or from other uninsurable events such as war or civil unrest.

The Trustees' first priority is to keep everyone safe, balancing risk against the continuing obligation to pursue our charitable objectives. Maintaining adequate reserves is essential, with the need to rebuild reserves after the deficit of 2020 a notable focus.

Formal risk assessments are carried out on more familiar issues such as crowd movement, vehicle movement, marquees, demonstrations and attractions, food hygiene, power generation and distribution, waste, the control of zoonotic diseases, the installation and operation of the water supply system and fire. An Event Management Plan is developed and reviewed in the course of the planning of the Show and is shared with relevant interested authorities.

The uncertain economic outlook remains a risk. The charity relies on key contractors who are struggling against labour shortages and rising transport costs. Typically these risks have been managed with the help of long term contracts in key areas such as marquee hire, toilet hire, electrical services and security. Such contracts are no longer readily available with increases expected far beyond the rising rate of inflation. Payment terms have also changed with most payments now front-loaded prior to the event. The trustees keep the Show’s operational model under review and continue to seek efficiencies for the long term.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

The Show relies on high levels of public attendance to generate income. Adverse weather remains the greatest risk in this regard. Expedited by Covid, the majority of events such as our show have now switched to favour online ticket sales, encouraging purchase with discounted advance rates. This has benefitted our charity by advancing income ahead of the Show, with non-refundable transactions helping mitigate the risk of nonattendance due to weather.

The Trustees have sought to mitigate the risks listed here by holding what are considered adequate reserves, including a Contingency Fund for this purpose.

Grant Making

The Show endeavours to provide financial assistance to other registered charities whose own objectives mirror charitable activities conducted by the Show. One-off grants are made, typically to agricultural and horticultural charities, or those who support those sectors, following recommendations from the Honorary Almoner.

The Trustees agreed to make such grants this year to continue our support for others. Details of the grants for this year are shown in the notes to the accounts.

Volunteers

The Show is totally dependent on its volunteers to enable it to function. The Trustees and Sub-Committees work tirelessly throughout the year, whilst countless other volunteers give their time freely before, during and after Show days to ensure a successful Show. In addition, wherever practicable, the Show engages with local community interest and similar organisations rather than commercial businesses. In accordance with the Charities SORP (FRS102), the economic contribution of general volunteers is not recognised in the accounts.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

Structure, governance and management

The charity is a company limited by guarantee, company number 04682208, charity number 1102127.

The trustees, who are also the directors for the purpose of company law, who served during the year were:

M Baird (Appointed 16 June 2022) M Bycroft L Charlton (Honorary Treasurer) J Curtis C Emmott (Appointed 16 June 2022) J C H Garner S Garner R J Grenham D G Jackson J C Maidman C S Maldonado J E Masters R A Pemble C J Perring (Honorary Almoner) W Peters (Joint Vice Chairman) K Preston (Appointed 16 June 2022) M W Riley J R Seymour H E Silk D Stakemire J Stakemire H J Taylor (Joint Vice Chairman) K D Tucker M W Watts R J Weaver M D G Wilkinson (Resigned 2 February 2022) D Wood (Appointed 16 June 2022) J R Young L S Young (Chairman)

The trustees are also members of the Council and Sub-Committees mentioned below.

Recruitment of trustees is made on recommendation from each Sub-Committee Chairman if and when a vacancy occurs. Generally, unless they possess a particular skill of value to the Charity, no trustee is appointed until they have served several years as a member of one of the sub-committees. Any new trustee is therefore well briefed on the aims of the Show and how it is run well before appointment to the Council.

The affairs of the Society are conducted by a Council consisting of up to forty five unpaid, voluntary members who are elected at the Annual General Meeting. There are currently eight sub-committees.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

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

L Charlton (Honorary Treasurer) Trustee Dated: 23 May 2023

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF EDENBRIDGE AND OXTED AGRICULTURAL SHOW

I report to the trustees on my examination of the financial statements of Edenbridge and Oxted Agricultural Show (the charity) for the year ended 30 November 2022.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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

Bruce Chapman BSc FCA CTA

Roger Lugg & Co 12 - 14 High Street Caterham Surrey CR3 5UA

Dated: 24 May 2023

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2022

Unrestricted Unrestricted
funds
funds
general
designated
2022
2022
Notes
£
£
Income and endowments from:
Donations, sponsorship and subscriptions
3
80,751
-
Incoming resources from charitable activities
4
700,693
-
Investments
6
1,893
5,744
Other income
5
-
-
Total income
783,337
5,744
Expenditure on:
Expenditure on raising funds
Investment management fees
-
-
Expenditure on charitable activities
7
771,657
9,584
Total resources expended
771,657
9,584
Net gains/(losses) on investments
12
-
(14,047)
Net incoming resources before transfers
11,680
(17,887)
Gross transfers between funds
5,207
(5,207)
Net movement in funds
16,887
(23,094)
Fund balances at 1 December 2021
269,046
495,381
Fund balances at 30 November 2022
285,933
472,287		 Total
2022
£
80,751
700,693
7,637
-
789,081
-
781,241
781,241
(14,047)
(6,207)
-
(6,207)
764,427
758,220		 Total
2021
£
79,583
637,169
5,054
725
722,531
(250)
708,410
708,160
1,902
16,273
-
16,273
748,154
764,427

The statement of financial activities includes all gains and losses recognised in the year.

All income 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.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

BALANCE SHEET

AS AT 30 NOVEMBER 2022

Notes
Fixed assets
Tangible assets
13
Investments
15
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
17
Net assets
Income funds
Unrestricted funds
Designated funds
19
General unrestricted funds		 2022
£
66,143
299,708
365,851
(40,046)
472,287
285,933		 £
314,993
125,215
440,208
325,805
766,013
(7,793)
758,220
758,220
758,220		 2021
£
53,567
280,901
334,468
(27,543)
495,381
269,046		 £
324,040
139,262
463,302
306,925
770,227
(5,800)
764,427
764,427
764,427

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

BALANCE SHEET (CONTINUED)

AS AT 30 NOVEMBER 2022

The charitable company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2022.

The directors acknowledge their responsibilities for ensuring that the charity 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 incoming resources and application of resources, including its income and expenditure, 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 financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 23 May 2023

L Charlton (Honorary Treasurer)

Trustee

Company registration number 04682208

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 NOVEMBER 2022

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
24
Investing activities
Purchase of tangible fixed assets
Proceeds on disposal of tangible fixed
assets
Investment income received
Net cash generated from/(used in)
investing activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
(537)
-
7,637		 £
11,707
7,100
-
18,807
280,901
299,708		 2021
£
(11,507)
1,500
5,054		 £
(22,536)
(4,953)
-
(27,489)
308,390
280,901

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

1 Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are as follows:

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

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

The accounts have been prepared under the historical cost convention, modified to include the revaluation of financial instruments at fair 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 the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

The uncertain economic outlook and the levels of attendance at the Show, particularly in the event of adverse weather, is a significant area of financial uncertainty which the trustees have sought to mitigate by holding what are considered adequate reserves, including the creation of a Contingency Fund for this purpose.

1.3 Charitable funds

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

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

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

No income value is attributed to services provided by volunteers.

Annual subscriptions from members and sponsorship income are included in the year to which they relate. Life Governors' subscriptions are credited to deferred income and released to income in equal instalments over 10 years.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

1 Accounting policies

(Continued)

1.5 Resources expended

Charitable expenditure is included on an accruals basis.

Grants are included in the accounts to which they relate. Grants are formally awarded by the trustees at their December meeting.

All costs, with the exception of investment management, are allocated to the sole charitable activity of providing an annual show.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold buildings 25 years straight line Office and show equipment 15% reducing balance Computer equipment and software 25% on cost

Freehold land is not depreciated.

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

1.7 Fixed asset investments

Fixed asset investments are a form of other financial instrument and are initially measured at fair value, which is normally the transaction price. They are subsequently carried at fair value and the changes in fair value are recognised in net income/(expenditure) for the year.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

1.10 Financial instruments

With the exception of fixed asset investments, the charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially measured at transaction value and subsequently measured at their settlement value.

1.11 Employee benefits

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

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

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

1 Accounting policies

(Continued)

1.12 Retirement benefits

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

2 Legal status of charity

Edenbridge and Oxted Agricultural Show is a private company limited by guarantee incorporated in England and Wales. The registered office is The Old Dairy, Wintersell Farm, Dwelly Lane, Edenbridge, TN8 6QD.

3 Donations, sponsorship and subscriptions

Donations and sponsorship
Subscriptions
Incoming resources from charitable activities
Showground entries
Trade stands
Entry fees
Catering account
Other income		 2022
£
39,358
41,393
80,751
2022
£
451,710
113,621
38,155
57,120
40,087
700,693		 2021
£
34,544
45,039
79,583
2021
£
436,949
91,912
29,975
45,310
33,023
637,169

4 Incoming resources from charitable activities

5 Other income

Total Unrestricted
funds
designated
2022 2021
£ £
Net gain on disposal of tangible fixed assets - 725

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

6 Investments

Unrestricted Unrestricted
funds
funds
general
designated
2022
2022
£
£
Income from listed investments
-
5,744
Interest receivable
1,893
-
1,893
5,744
For the year ended 30 November 2021
115
4,939
Expenditure on charitable activities
Notes
Staff costs
Depreciation and impairment
Direct costs
8
Support costs
8
Governance costs
8
Grant funding of activities
11
Analysis by fund
Unrestricted funds - general
Unrestricted funds - designated		 Total
2022
£
5,744
1,893
7,637
2022
£
73,478
9,584
620,404
65,307
6,468
775,241
6,000
781,241
771,657
9,584
781,241		 Total
2021
£
4,939
115
5,054
5,054
2021
£
61,937
10,039
556,927
68,480
5,027
702,410
6,000
708,410
698,371
10,039
708,410

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

8
Charitable expenditure
Direct costs comprise:
Prize money
Catering costs
Tent and furniture hire
Public address hire
Security and gates
Toilets and plumbing
Electricity and water
Repairs and renewals
Labour and subcontractors
Judges and officials
Rosettes, badges and trophies
Demonstration fees
Equipment hire
Health and safety
Waste disposal
Support costs comprise:
Advertising and promotions
Insurance
Land rental
Secretarial and office costs
Postage and stationery
Telephone and fax
Computer costs
Affiliation fees
Bank charges
Governance costs comprise:
Payroll and bookkeeping
Independent examiner's fees
AGM and meeting costs		 2022
£
37,124
23,135
137,902
8,935
41,002
55,277
35,331
25,926
118,820
10,040
14,729
37,006
38,834
13,760
22,583
620,404
11,769
17,796
6,600
1,198
12,965
2,769
4,859
4,209
3,142
65,307
832
4,502
1,134
6,468		 2021
£
35,241
20,795
107,703
9,435
44,009
42,510
22,436
18,162
133,014
9,406
16,468
26,436
36,979
11,890
22,443
556,927
8,683
14,712
6,600
10,040
14,278
3,927
2,641
3,757
3,842
68,480
-
3,810
1,217
5,027

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year for their services as a trustee.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

10 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
2 2
Employment costs 2022 2021
£ £
Wages and salaries 69,107 60,500
Social security costs 2,800 -
Other pension costs 1,571 1,203
73,478 61,703

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

11 Grants payable

Grants to institutions:
RABI (Surrey)
Farming Community Network
Air Ambulance Kent Surrey Sussex
The Perennial Gardeners Society
Young Epilepsy, Lingfield
Farms for City Children
Addington Fund
Surrey Docks Farm
Cobtree Young Farmers Club
Net gains/(losses) on investments
Revaluation of investments
 2022
£
-
1,000
500
1,000
1,000
500
1,000
500
500
6,000
2022
£
(14,047)		 2021
£
500
-
1,000
1,000
1,000
500
1,000
500
500
6,000
2021
£
1,902

12 Net gains/(losses) on investments

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

13
Tangible fixed assets
Cost
At 1 December 2021
Additions
At 30 November 2022
Depreciation and impairment
At 1 December 2021
Depreciation charged in the year
At 30 November 2022
Carrying amount
At 30 November 2022
At 30 November 2021		 Freehold
buildings
Office and
show
equipment
Computers
£
£
£
346,007
122,568
8,000
-
-
537
346,007
122,568
8,537
51,727
98,808
2,000
3,393
4,057
2,134
55,120
102,865
4,134
290,887
19,703
4,403
294,280
23,760
6,000		 Total
£
476,575
537
477,112
152,535
9,584
162,119
314,993
324,040

Freehold land and buildings include land at a cost of £264,597. In the trustees' opinion the market value is in excess of this figure but a formal valuation has not been obtained.

The Show also owns a number of donated trophies which are shown at nil value in the accounts, but have an insurance value of £140,585.

14 Debtors

Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2022
£
60,870
5,273
66,143		 2021
£
47,251
6,316
53,567

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2022

15 Fixed asset investments

CAF Fixed
Interest Bond
M&G
Charifund
£
£
Cost or valuation
At 30 November 2022
86,606
52,656
Valuation changes
(14,106)
59
At 30 November 2022
72,500
52,715
Carrying amount
At 30 November 2022
72,500
52,715
At 30 November 2021
86,606
52,656
2022
£
Investments at fair value comprise:
Fixed interest (listed)
72,500
Unit trusts (listed)
52,715
125,215		 Total
£
139,262
(14,047)
125,215
125,215
139,262
2021
£
86,606
52,656
139,262

Fixed asset investments revalued

Investments are revalued using mid-market price or the last closing dealing price as provided by the investment managers Quilter Cheviot.

16 Creditors: amounts falling due within one year

16
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
18
Trade creditors
Accruals
Accrual for grants payable
17
Creditors: amounts falling due after more than one year
Notes
Deferred income
18		 2022
£
1,282
7,004
1,695
24,065
6,000
40,046
2022
£
7,793		 2021
£
2,305
3,000
4,943
11,295
6,000
27,543
2021
£
5,800

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

18
Deferred income
Arising from government grants
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Non-current liabilities		 2022
£
4,782
10,015
14,797
2022
£
7,004
7,793
14,797		 2021
£
-
8,800
8,800
2021
£
3,000
5,800
8,800

During the year £3,000 (2021 - £2,600) was released to income in relation to Life Governor subscriptions. An additional life governor subscription received of £4,215 was deferred to future years.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

19 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at
1 December
2020
r
£
Contingency fund
115,000
Tangible fixed assets fund
323,347
W Meadows dec'd goat
sponsorship fund
49,500
487,847		 Movement in funds
Incoming
esources
Resources
expended
Transfers
Investments
gains/losses
Balance at
1 December
2021
r
£
£
£
£
£
4,939
-
-
1,902
121,841
725
(10,039)
10,007
-
324,040
-
-
-
-
49,500
5,664
(10,039)
10,007
1,902
495,381		 Movement in funds
Incoming
esources
Resources
expended
£
£
5,744
(14,047)
537
(9,584)
-
-
6,281
(23,631)		 Transfers
Balance at
30 November
2022
£
£
(5,744)
107,794
-
314,993
-
49,500
(5,744)
472,287		 Transfers
Balance at
30 November
2022
£
£
(5,744)
107,794
-
314,993
-
49,500
(5,744)
472,287
472,287

A contingency fund has been created by the trustees to provide against the possibility of financial loss brought about by bad weather over the show weekend and also to provide funds for major repairs and improvements to the showground and any other contingencies. Although not due to bad weather, there was no show in 2020 as a result of the Covid-19 global pandemic and thus the continency funds were part utilised.

The Tangible fixed assets fund represents the book value of tangible fixed assets used in the furtherance of the Show's objects as they are not part of the Show's free reserves.

Whilst the terms of the W Meadows dec'd legacy do not form a restricted fund, the trustees would like to apply the legacy in accordance with the wishes of the donor and so this has been designated for use on sponsorship of the goat section.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

20 Analysis of net assets between funds

Unrestricted
funds
Designated
funds
2022
2022
£
£
Fund balances at 30 November 2022 are
represented by:
Tangible assets
-
314,993
Investments
-
125,215
Current assets/(liabilities)
293,726
32,079
Long term liabilities
(7,793)
-
285,933
472,287		 Total
2022
£
314,993
125,215
325,805
(7,793)
758,220		 Total
2021
£
324,040
139,262
306,925
(5,800)
764,427

21 Related party transactions

There were no disclosable related party transactions during the year or in the comparative period.

22 Financial commitments

The charity, in the normal course of its activities, enters into financial arrangements with certain suppliers in connection with the provision of services for future Shows. These arrangements are subject to cancellation clauses in certain circumstances.

At the reporting end date the charity had outstanding commitments for future minimum payments under noncancellable agreements, which fall due as follows:

Within one year
Between two and five years		 2022
£
25,604
405
26,009		 2021
£
27,825
19,284
47,109

23 Analysis of changes in net funds

The charity had no debt during the year.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022

24 Cash generated from operations 2022 2021
£ £
(Deficit)/surplus for the year (6,207) 16,273
Adjustments for:
Investment income recognised in statement of financial activities (7,637) (5,054)
Gain on disposal of tangible fixed assets - (725)
Fair value gains and losses on investments 14,047 (1,902)
Depreciation and impairment of tangible fixed assets 9,584 10,039
Movements in working capital:
(Increase) in debtors (12,576) (7,065)
Increase in creditors 8,499 10,576
Increase/(decrease) in deferred income 5,997 (44,678)
Cash generated from/(absorbed by) operations 11,707 (22,536)