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← Edenbridge And Oxted Agricultural Show

2023-11-30-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 2023

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

CHAIRMAN'S REPORT

The 2023 Edenbridge & Oxted Show was among the most memorable of recent years, for all the right reasons. An event of which our community should be proud, as the sun rose on the first show morning we welcomed a bumper crowd of competitors and visitors to enjoy all the many things that make our event so special.

The weather is always a primary influencing factor for any agricultural show’s attendance number. Despite a very dry and hot month in June, once July and August came we saw intermittent rainfall which kept our ground watered and in ideal condition. As show weekend approached, the forecast showed the weather set fair and we saw that welcome reassurance of strong advance ticket sales. Once the dust had settled and the numbers were in, we realised we’d welcomed more visitors than had attended any year since 2011.

It would be a disservice to attribute this year’s success solely to the sunshine however. There are many other events and attractions for the public to attend over the August bank holiday but they have elected to visit our show. Our staff and volunteers have worked hard to create a prestigious event that offers a mix of top quality entertainment and spectacle, participation opportunities, learning, quality food and facilities – all combining to provide great value for money and a fabulous, farming-themed day out in the fresh air.

Our show has to be many things to many people to keep it relevant and viable. As an agricultural show that values its farming and countryside roots and heritage, it is particularly important to us to see farmers attending as competitors in our livestock showing competitions and as visitors. In 2023 our livestock stewards in all sections had the challenge of how to house so many entries, with the sheep and pig sections full to bursting once again and the cattle section seeing entry numbers that easily exceeded those of pre-covid years. Competitors, many already declared champions from other royal and county shows, are travelling huge distances to compete with us to find the best of the best. Providing a platform for the elite of the pedigree and commercial breeding worlds is crucial to farm businesses not only in our region but beyond and we are so grateful to all who enter our classes and support us. Our show’s 2023/4 President, Mr Jan Boomaars, awarded the Winston Churchill Memorial Trophy for the best exhibit at the show in 2024 to the Dairy Cattle section this year in recognition of the quantity and calibre of the competition entries.

We have also seen a resurgence in the support we receive from agricultural trade stands. Asking employees to attend a trade show over the bank holiday weekend, straight after the busy harvest period, has always been a significant commitment for our agricultural traders. A number of new agricultural and equestrian industry exhibitors joined us in 2023. We were pleased to welcome them and thank them for their support.

The equestrian side of our show also grew in 2023 with a 15% increase in entries year on year. Here we have maintained our commitment not only to elite competition with our many Horse of the Year Show qualifiers and with a new London International Horse Show qualifier, but we have retained classes specifically for local riders to ensure opportunity for all.

Our Country Sports area hosted its usual mix of gundogs, hounds, working terriers, fishing demonstrations, country crafts and dog agility displays, but did so with one of its biggest audiences ever this year. We’ve found that the reconfiguration of the showground that was undertaken post-covid has encouraged an improved flow of public into this area which has become one of the most popular places for people to linger. We look forward to seeing this section continue its growth.

To say it feels like our show is back now after covid and every bit as strong as it has ever been is no exaggeration. It has taken investment in attractions and an uncompromising approach to keeping what matters at its heart. We have given our trade stands team and office team the discretion to decline stand applications that don’t fit in with our values or approach. We’ve sought better quality and more local food and drink providers. We’ve professionalised some of our previously volunteer-led functions to make for a smoother event and we’ve increased provision to meet increasing requirements for health and safety.

The showground at Ardenrun is owned by our society and we’re making significant investment in its infrastructure this coming year with the construction of a new open barn. We have some 130 acres on this site in our care, mainly grassland but with some water and woodland too. Farming this land and doing so with the greatest care for the environment is very important to us going forward.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

CHAIRMAN'S REPORT

As ever, we have to extend our thanks to the society’s volunteers who individually and collectively give so much of their time to ensure that our event is planned and delivered to the highest of standards. Whether they’re erecting display tables in our horticulture marquee, manning the ropes on the horse walk, welcoming our sponsors, parking cars, stewarding competition classes or helping trade stands find their pitches, we couldn’t operate without volunteers.

It is our sad duty to acknowledge some particular friends of the show that we sadly lost during the year too. Mike Castell was a show trustee of longstanding, a familiar face to our members in particular given his leadership of the then Catering Committee. Even after he moved to Devon with his wife, Alex, they returned year after year to volunteer and enjoy the show and to attend our AGM. Mike passed away in March.

John Garner’s name was also synonymous with our event. John’s commitment spanned more than sixty years with us and he was our longest serving trustee. The driving force behind our Country Sports section, his passion for rural pursuits was evident in all he did. This well-known and much loved character passed away in October, just a few weeks after enjoying one last show with us at Ardenrun.

We must also thank our members for their ongoing commitment to our society and our sponsors for their generosity. With inflation running at such high levels in recent years we have experienced significant upward pressure on our costs which puts ever-increasing financial pressure on our charity. Many of our contractors have been working with our show for many years and it’s important that we note also our thanks to them as they endeavour to help us find innovative ways to manage and reduce our costs.

In our first year at the helm of this show we have learnt much about what it takes to manage a society of volunteer trustees, a show office and to deliver a large-scale event. When your name’s “above the door” it can all feel very personal. We thank our fellow trustees for supporting our vision and leadership and we thank the team in the office for everything they do. Together we have an event of which we should all be proud.

WILLIAM PETERS & HOLLY TAYLOR Joint Show Chairmen

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 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 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8 - 9
Statement of cash flows 10
Notes to the accounts 11 - 22

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2023

The trustees present their annual report and financial statements for the year ended 30 November 2023.

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 memorandum and articles of association, 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 27 and 28 August 2023.

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.

The 2023 event was a well-attended, successful show with over 28,000 paying public attending. With the society’s members and their guests, sponsors, stewards and thousands of competition entrants, the total attendance for 2023 is estimated as 45,000 people. That represents a 12% increase on 2022.

A similar uplift was seen in the income generated for the event by its trade stand bookings. With almost 250 trade stands on site, a contribution to the charity’s income of some £134,000 was successfully delivered (2022: £114,000). Trade stand management on site is overseen by our Trade Stands Committee whose volunteers, assisted by office and paid contractors, prepared stand markings, welcomed all the traders and skilfully managed any issues on the ground. This committee also oversaw the successful delivery of the public catering provision and its income. Now working on a percentage commission basis, the amount contributed benefitted from the high gate number, good weather and from a carefully-curated set of catering stands designed to deliver a wide range of food options, at good value prices, from local farmers and suppliers where possible. In 2023 the catering income rose to £65,000 (2022: £57,000).

The newly-formed Members & Sponsors Committee made some changes to the internal layout of the Members’ Marquee to help facilitate a better welcome for sponsors. With the agreement of the Show President, Jan Boomaars, it had been agreed to forego a President’s Lunch event and dedicated President’s Area this year but instead to invest in a Sponsors’ Drinks event each day, hosted by our President, at which sponsors could be thanked in person and which would provide a greater benefit to more people. This new event had a good start and the committee has numerous ideas to help develop its premise and benefit in 2024. Income from the society’s membership subscriptions grew to £47,000 in the year (2022: £41,000) whilst sponsorship and donations yielded a further £39,000 which was broadly equal to 2022. Increasing the society’s income from sponsorship in the coming years will be a focus for this committee and for the trustee body.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

A run of difficult years for our key contractors meant that we faced unavoidable cost increases in 2023 for marquee and toilet hire. The high cost of transport was a very influential factor, with little in mitigation. This caused a review of alternatives and in 2023, for the first time in many years, a second contractor was introduced for our marquee hire. Tents are the society’s biggest cost commitment for the show each year, with these contracts consuming some 26% of total ticket income for 2023. Introducing a second contractor limited the cost increase to a manageable percentage but some compromises were made. The large horticulture tent was historically one of our more costly marquees, but the Horticulture Committee reviewed the layout for its competition classes in 2023 and was able to scale down its tent requirement which helped considerably. The Horticulture marquee once again hosted our friends from the Surrey Federation of Women’s Institutes who ran another successful show and thought-provoking display within.

It is the show’s livestock sections that account for the majority of the marquee requirements, with competition classes in 2023 extremely well-supported by our farmers. With over 500 cattle entries and the largest display of dairy cattle outside of any specialist dairy event the Agriculture Committee are seeing the fruits of hard work to rally support and to maintain the respected standard of competition. Exhibitors were drawn from as far as Telford, Bideford, Bristol, Milton Keynes and Bury St Edmunds to compete. Pig section entries were buoyed by our show being awarded the final of the Kunekune breed championship and qualifying status for the subsequent finals of the Oxford Sandy & Black, Gloucestershire Old Spot, Berkshire, Tamworth and British Saddleback breeds. The Sheep section fielded another comprehensive set of entries spanning 38 different breeds in the purebred classes. With some 450 pens for sheep requiring cover from the elements, a significant tent cost is incurred each year. The trustees are pleased to report that a new open hay barn is to be constructed on the showground site ahead of the 2024 show which, whilst enhancing the farming facilities for our grazier, can double as cover for around 180 pens during show time and reduce our marquee requirement a little each year.

Without the prolonged dry weather of 2022 to manage, the Equestrian Committee had a smoother run into the 2023 event, with the competition rings presented in perfect condition. Entry numbers were up by 14% on the previous year with our prestigious qualifiers very well-supported. This was our first year of holding a direct London International Horse Show qualifier for ridden Mountain & Moorland breeds and new ridden coloured qualifiers for the Horse of the Year Show were bursting with impeccably presented combinations. Unaffiliated showjumping is clearly still very popular with our competitors although there is some acknowledged challenge around maintaining the number of entries needed for strong fields in our headline affiliated showjumping classes. In the King’s coronation year we were pleased to welcome his Head Coachman to judge our ever-popular coaching class.

The showground itself looked in excellent condition this year, with all credit due to the team behind the scenes. Its preparation was overseen by the Operations Committee who had to draw upon additional contractor and volunteer resource at short notice when a key team member had to withdraw following injury. This committee also helped ensure that services such as traffic and parking, paygates, security and key contractors were all supported and smooth-running.

Given the pressure on the showground team this year, the Country Sports Committee increased their volunteer hours on site to ensure that all sections of their area were ready for action. This included making repairs and improvements to the farriers’ barn, mowing and strimming demonstration rings and terrier racing course, clearing the fly fishing demonstration pond and preparing the gundog and hound areas. The farrier competition has gone from strength to strength with unprecedented entries and the fly fishing tutors reported their best and busiest show to date.

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 by 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 surplus of £39,003(2022: deficit of £6,207). The Balance Sheet at the year end remains satisfactory with a total of unrestricted funds not designated amounting to £331,865 (2022 : £285,933).

£2,222 was released from deferred income in the year in relation to life governor subscriptions.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

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.

Risk management

In conjunction with the Show’s appointed Health & Safety advisor, a review is conducted each year of the principal risks and uncertainties faced in the delivery of the Show. This review helps 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 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 remaining a concern.

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, infectious disease control, 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 rate of inflation in recent years has resulted in increased costs and remains a risk. The charity relies on key contractors who are experiencing labour shortages and high transport and staffing 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. The charity offered key contracts for tender to help ensure competitive pricing and new suppliers were introduced for 2023. Supplier payment terms are also now mainly front-loaded prior to the event, impacting cashflow and requiring negotiation and management. The trustees keep the Show’s operational model under review and continue to seek efficiencies for the long term.

The Show relies on high levels of public attendance to generate income. Adverse weather remains the greatest risk in this regard. Online ticket sales with discounted advance rates benefit our charity by advancing income ahead of the Show, with non-refundable transactions helping mitigate the risk of non-attendance 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.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

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 event. 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.

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

M Baird
A Bradford (Appointed 23 May 2023)
M Bycroft
L Charlton (Honorary Treasurer)
J Curtis (Resigned 20 August 2023)
C Emmott (Resigned 20 August 2023)
G Evans (Appointed 23 May 2023)
J C H Garner (Deceased 7 October 2023)
S Garner (Resigned 28 August 2023)
R J Grenham
D G Jackson
J C Maidman
C S Maldonado (Resigned 23 May 2023)
J E Masters
R A Pemble
C J Perring (Honorary Almoner)
W Peters (Joint Chairman)
K Preston (Resigned 28 August 2023)
M W Riley (Resigned 21 April 2023)
J R Seymour
H E Silk
D Stakemire
J Stakemire (Resigned 23 May 2023)
H J Taylor (Joint Chairman)
K D Tucker (Resigned 19 May 2023)
M W Watts
R J Weaver
D Wood
J R Young (Resigned 23 May 2023)
L S Young

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

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

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.

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

L Charlton (Honorary Treasurer)

Trustee Dated: 13 May 2024

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 2023.

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 FCA CTA

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

Dated: 28 August 2024

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 NOVEMBER 2023

Unrestricted Unrestricted
funds
funds
general
designated
2023
2023
Notes
£
£
Income from:
Donations, sponsorship and subscriptions
3
86,660
-
Incoming resources from charitable activities
4
815,789
-
Investments
5
2,774
5,137
Total income
905,223
5,137
Expenditure on:
Expenditure on raising funds
Expenditure on charitable activities
6
856,535
9,802
Net gains/(losses) on investments
12
-
(5,020)
Net incoming/(outgoing) resources before
transfers
48,688
(9,685)
Gross transfers between funds
(2,756)
2,756
Net movement in funds
45,932
(6,929)
Fund balances at 1 December 2022
285,933
472,287
Fund balances at 30 November 2023
331,865
465,358		 Total
2023
£
86,660
815,789
7,911
910,360
866,337
(5,020)
39,003
-
39,003
758,220
797,223		 Total
2022
£
80,751
700,693
7,637
789,081
781,241
(14,047)
(6,207)
-
(6,207)
764,427
758,220

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

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 2023

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		 2023
£
137,696
331,913
469,609
(25,390)
465,358
331,865		 £
308,064
51,512
359,576
444,219
803,795
(6,572)
797,223
797,223
797,223		 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

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

BALANCE SHEET (CONTINUED)

AS AT 30 NOVEMBER 2023

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 2023.

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 13 May 2024

L Charlton (Honorary Treasurer)

Trustee

Company Registration No. 04682208

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 NOVEMBER 2023

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
24
Investing activities
Purchase of tangible fixed assets
Investments liquidated
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(2,873)
68,683
7,911		 £
(41,516)
73,721
-
32,205
299,708
331,913		 2022
£
(537)
-
7,637		 £
11,707
7,100
-
18,807
280,901
299,708

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

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 2023

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 2023

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		 2023
£
39,396
47,264
86,660
2023
£
532,557
133,802
46,343
65,294
37,793
815,789		 2022
£
39,358
41,393
80,751
2022
£
451,710
113,621
38,155
57,120
40,087
700,693

4 Incoming resources from charitable activities

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

5 Investments

Unrestricted Unrestricted
funds
funds
general
designated
2023
2023
£
£
Income from listed investments
-
5,137
Interest receivable
2,774
-
2,774
5,137
For the year ended 30 November 2022
1,893
5,744
Expenditure on charitable activities
Notes
Staff costs
Depreciation and impairment
Direct costs
7
Support costs
7
Governance costs
7
Grant funding of activities
10
Analysis by fund
Unrestricted funds - general
Unrestricted funds - designated		 Total
2023
£
5,137
2,774
7,911
2023
£
89,826
9,802
671,459
83,612
5,638
860,337
6,000
866,337
856,535
9,802
866,337		 Total
2022
£
5,744
1,893
7,637
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

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

7
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
Legal and professional
AGM and meeting costs		 2023
£
37,586
28,556
155,479
8,935
43,066
62,001
31,825
19,516
139,521
12,312
17,023
43,926
31,741
15,421
24,551
671,459
14,861
30,162
6,600
1,937
12,257
2,003
5,511
6,056
4,225
83,612
946
3,669
387
636
5,638		 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

8 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 2023

9 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2023 2022
Number Number
2 2
Employment costs 2023 2022
£ £
Wages and salaries 83,364 69,107
Social security costs 4,488 2,800
Other pension costs 1,974 1,571
89,826 73,478
There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

10 Grants payable

Grants to institutions:
Farming Community Network
Dandelion Time
Riding for the Disabled Associated (Little Brook Equestrian
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		 2023
£
1,000
500
500
-
1,000
1,000
500
1,000
-
500
6,000		 2022
£
1,000
-
-
500
1,000
1,000
500
1,000
500
500
6,000

11 Taxation

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

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2023

12
Net gains/(losses) on investments
Revaluation of investments
13
Tangible fixed assets
Cost
At 1 December 2022
Additions
At 30 November 2023
Depreciation and impairment
At 1 December 2022
Depreciation charged in the year
At 30 November 2023
Carrying amount
At 30 November 2023
At 30 November 2022		 Freehold
buildings
Office and
show
equipment
£
£
346,007
122,568
-
2,873
346,007
125,441
55,120
102,865
3,393
4,275
58,513
107,140
287,494
18,301
290,887
19,703		 2023
£
(5,020)
Computers
£
8,537
-
8,537
4,134
2,134
6,268
2,269
4,403		 2022
£
(14,047)
Total
£
477,112
2,873
479,985
162,119
9,802
171,921
308,064
314,993

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 £160,098.

14 Debtors

Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2023
£
134,133
3,563
137,696		 2022
£
60,870
5,273
66,143

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

15 Fixed asset investments

CAF Fixed
Interest Bond
M&G
Charifund
£
£
Cost or valuation
At 30 November 2023
72,500
52,715
Valuation changes
(1,938)
(3,082)
Disposals
(68,683)
-
At 30 November 2023
1,879
49,633
Carrying amount
At 30 November 2023
1,879
49,633
At 30 November 2022
72,500
52,715
2023
£
Investments at fair value comprise:
Fixed interest (listed)
1,879
Unit trusts (listed)
49,633
51,512		 Total
£
125,215
(5,020)
(68,683)
51,512
51,512
125,215
2022
£
72,500
52,715
125,215

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

Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
18
Trade creditors
Accruals
Accrual for grants payable
Creditors: amounts falling due after more than one year
Notes
Deferred income
18		 2023
£
1,918
5,107
4,012
8,353
6,000
25,390
2023
£
6,572		 2022
£
1,282
7,004
1,695
24,065
6,000
40,046
2022
£
7,793

17 Creditors: amounts falling due after more than one year

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

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		 2023
£
3,885
7,794
11,679
2023
£
5,107
6,572
11,679		 2022
£
4,782
10,015
14,797
2022
£
7,004
7,793
14,797

During the year £2,222 (2022 - £3,000) was released to income in relation to Life Governor subscriptions

19 Designated funds

The unrestricted income funds of the charity comprise the unexpended balances of show surplus, donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 Incoming Resources Transfers Gains and At 30
December resources expended losses November
2022 2023
£ £ £ £ £ £
Contingency
fund 107,794 5,137 - (117) (5,020) 107,794
Tangible fixed
assets fund 314,993 - (9,802) 2,873 - 308,064
W Meadows
dec'd goat
sponsorship
fund 49,500 - - - - 49,500
472,287 5,137 (9,802) 2,756 (5,020) 465,358

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

19 Designated funds (Continued)
Previous year: At 1 Incoming Resources Transfers Gains and At 30
December resources expended losses November
2021 2022
£ £ £ £ £ £
Contingency
fund 121,841 5,744 (14,047) (5,744) - 107,794
Tangible fixed
assets fund 324,040 537 (9,584) - - 314,993
W Meadows
dec'd goat
sponsorship
fund 49,500 - - - - 49,500
495,381 6,281 (23,631) (5,744) 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.

20 Capital commitments

Amounts contracted for but not provided in the financial statements:

2023 2022
£ £
Acquisition of property, plant and equipment 79,123 -

The charity has committed to building a barn on the land. A deposit has been paid in the current period (£7,647 within debtors) with the remainder payable in the 2024 financial year.

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

21 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Designated
funds
2023
2023
£
£
Fund balances at 30 November 2023 are
represented by:
Tangible assets
-
308,064
Investments
-
51,512
Current assets/(liabilities)
338,437
105,782
Long term liabilities
(6,572)
-
331,865
465,358		 Total
2023
£
308,064
51,512
444,219
(6,572)
797,223		 Total
2022
£
314,993
125,215
325,805
(7,793)
758,220

22 Related party transactions

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

23 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		 2023
£
31,047
43,531
74,578		 2022
£
25,604
405
26,009

EDENBRIDGE AND OXTED AGRICULTURAL SHOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

24 Cash generated from operations 2023 2022
£ £
Surplus/(deficit) for the year 39,003 (6,207)
Adjustments for:
Investment income recognised in statement of financial activities (7,911) (7,637)
Fair value gains and losses on investments 5,020 14,047
Depreciation and impairment of tangible fixed assets 9,802 9,584
Movements in working capital:
(Increase) in debtors (71,553) (12,576)
(Decrease)/increase in creditors (12,759) 8,499
(Decrease)/increase in deferred income (3,118) 5,997
Cash (absorbed by)/generated from operations (41,516) 11,707