REGISTERED COMPANY NUMBER: 05019969 (England and Wales) REGISTERED CHARITY NUMBER: 1104640
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 30th September 2023
for
The Great Eccleston and District Agricultural Society Limited
Towers + Gornall Ltd Chartered Certified Accountants River View
96 High Street Garstang Preston Lancashire PR3 1WZ
The Great Eccleston and District Agricultural Society Limited
Contents of the Financial Statements for the Year Ended 30th September 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
The Great Eccleston and District Agricultural Society Limited
Report of the Trustees for the Year Ended 30th September 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th September 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
ACHIEVEMENT AND PERFORMANCE
Development, activities and achievements in this year
The society made donations to various charities during the year. These included a donation towards a charity tractor run and donations to the local parish council and local schools who volunteer their help at the show.
On the weekend of the show, a combine harvester on a charity run was on the show field. Public donations made towards this were matched by the society.
FINANCIAL REVIEW
Reserves policy
The present level of funding is adequate to support the show's future in the long term and the trustees consider the financial position of the charity to be very good. Donations will be made out of investment income to charitable causes.
Investment income will also be reinvested in the show, by way of being used to fund improvements to the show field and towards costs of running the show.
FUTURE PLANS
Infrastructure
The Trustees are continually improving and maintaining the infrastructure of the Show Ground to provide better all-weather access by upgrading and extending roads and tracks.
An extension to the existing building is to be carried out in 2024.
Content of Annual Show
The livestock sections are being constantly reviewed and expanded where appropriate.
Risk Review
Following an independent risk report, the Trustees resolved to take appropriate action on its recommendations. Progress in reducing risk to visitors and exhibitors is reviewed after each event and policies and procedures updated where necessary.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The operation of the company is governed by the Memorandum and Articles of Association.
The company's principal objectives, as set out in the Memorandum of Association are:-
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To promote rural industry and agriculture for the benefit of the public, to encourage skill and industry in agriculture and all trades, crafts and professions connected with agriculture through demonstrations and exhibitions of livestock, machinery, crafts, methods and processes connected with agriculture methods in the Fylde area of Lancashire.
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To promote such other charitable purposes as the Trustees of the charity shall think fit.
There were no changes in the period to the policies adopted by the company in order to further its objectives.
Appointment of new trustees
All directors of the company are also trustees of the charity, and there are no other trustees. All of the trustees named on page 1 served throughout the period. The board has the power to appoint additional trustees as it considers fit to do so.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05019969 (England and Wales)
Page 1
The Great Eccleston and District Agricultural Society Limited
Report of the Trustees for the Year Ended 30th September 2023
Registered Charity number 1104640
Registered office Millstones Strickens Lane Barnacre Preston Lancashire PR3 1UD
Trustees
Mr T E Redmayne Trustee Mr J Matthews Trustee (resigned 8/1/24) Mr JA Greenhalgh Trustee Mr R J Mason Trustee (resigned 8/1/24) Mr B Parkinson Trustee (resigned 9/1/23) Mrs J A Eckersley Trustee (resigned 8/1/24) Mr H J Meadows Trustee Mr J Bracken Trustee (appointed 9/1/23) Miss S L Hewitt (appointed 8/1/24) Mrs S E Fryars (appointed 8/1/24)
Company Secretary Mrs JA Simpson Independent Examiner Towers + Gornall Ltd Chartered Certified Accountants River View 96 High Street Garstang Preston Lancashire PR3 1WZ
Bankers The Royal Bank of Scotland 39 Poulton Street Kirkham Preston PR4 2DP
Solicitors Oglethorpe, Sturton and Gillibrand 16 Castle Park Lancaster LA1 1YG
Approved by order of the board of trustees on 8th January 2024 and signed on its behalf by:
Mr JA Greenhalgh - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Great Eccleston and District Agricultural Society Limited
Independent examiner's report to the trustees of The Great Eccleston and District Agricultural Society Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th September 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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 accounts to be reached.
Mick Gornall
Towers + Gornall Ltd Chartered Certified Accountants River View 96 High Street Garstang Preston Lancashire PR3 1WZ
8th January 2024
Page 3
The Great Eccleston and District Agricultural Society Limited
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 30th September 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Other income Total EXPENDITURE ON Raising funds Charitable activities Agricultural Show Other Total Net gains on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted funds £ 7,922 200,562 31,391 340 240,215 258,025 49,570 68,771 376,366 - (136,151) 2,467,919 2,331,768 |
2022 Total funds £ 5,473 281,180 9,469 - |
|---|---|---|
| 296,122 | ||
| 215,535 523,036 40,592 |
||
| 779,163 | ||
| 2,568,033 | ||
| 2,084,992 382,927 |
||
| 2,467,919 |
The notes form part of these financial statements
Page 4
The Great Eccleston and District Agricultural Society Limited
Statement of Financial Position 30th September 2023
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
2023 Unrestricted funds £ 750,216 17,611 1,583,859 1,601,470 (19,918) 1,581,552 2,331,768 2,331,768 2,331,768 2,331,768 |
2022 Total funds £ 760,181 10,065 2,197,318 2,207,383 (499,645) 1,707,738 2,467,919 2,467,919 2,467,919 2,467,919 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 8th January 2024 and were signed on its behalf by:
Mr JA Greenhalgh - Trustee
The notes form part of these financial statements
Page 5
The Great Eccleston and District Agricultural Society Limited
Notes to the Financial Statements for the Year Ended 30th September 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost Computer equipment - 25% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| Entry fees Trade space Admissions Catalogues Profit from bar Advertising in catalogue Food hall Craft |
2023 £ 18,901 44,612 121,858 388 9,211 650 2,475 2,467 200,562 |
2022 £ 13,633 47,793 195,513 415 21,843 - 1,233 750 |
|---|---|---|
| 281,180 |
Page 6
continued...
The Great Eccleston and District Agricultural Society Limited
Notes to the Financial Statements - continued for the Year Ended 30th September 2023
3. INVESTMENT INCOME
4.
| INVESTMENT INCOME | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Rents received | 4,608 | 1,576 |
| NW tractor pullers | 4,275 | 3,833 |
| Deposit account and other interest | 21,426 | 1,602 |
| RPA receipt | 1,082 | 2,458 |
| 31,391 | 9,469 | |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2023 | 2022 | |
| £ | £ | |
| Depreciation - owned assets | 22,756 | 16,567 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30th September 2023 nor for the year ended 30th September 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30th September 2023 nor for the year ended 30th September 2022.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Secretary Treasurer |
2023 1 1 2 |
2022 1 1 |
|---|---|---|
| 2 |
No employees received emoluments in excess of £60,000.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 5,473 |
| Other trading activities | 281,180 |
| Investment income | 9,469 |
| Total | 296,122 |
| EXPENDITURE ON | |
| Raising funds | 215,535 |
| Charitable activities | |
| Agricultural Show | 523,036 |
| Other | 40,592 |
Page 7
continued...
The Great Eccleston and District Agricultural Society Limited
Notes to the Financial Statements - continued for the Year Ended 30th September 2023
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 8. TANGIBLE FIXED ASSETS Freehold property £ COST At 1st October 2022 925,708 Additions 12,791 At 30th September 2023 938,499 DEPRECIATION At 1st October 2022 168,306 Charge for year 22,281 At 30th September 2023 190,587 NET BOOK VALUE At 30th September 2023 747,912 At 30th September 2022 757,402 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors VAT |
Plant and machinery £ 2,200 - 2,200 - 330 330 1,870 2,200 |
Unrestricted funds £ 779,163 2,568,033 2,084,992 382,927 2,467,919 Computer equipment Totals £ £ 3,118 931,026 - 12,791 3,118 943,817 2,539 170,845 145 22,756 2,684 193,601 434 750,216 579 760,181 2023 2022 £ £ 13,595 7,482 4,016 2,583 17,611 10,065 |
|---|---|---|
Page 8
continued...
The Great Eccleston and District Agricultural Society Limited
Notes to the Financial Statements - continued for the Year Ended 30th September 2023
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Tax 11. MOVEMENT IN FUNDS Unrestricted funds General fund Show Account TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund Show Account TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Show Account TOTAL FUNDS |
At 1/10/22 £ 2,467,919 - 2,467,919 2,467,919 as follows: At 1/10/21 £ 382,927 - 382,927 382,927 |
|
|---|---|---|
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continued...
The Great Eccleston and District Agricultural Society Limited
Notes to the Financial Statements - continued for the Year Ended 30th September 2023
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Show Account TOTAL FUNDS |
Incoming resources £ 9,472 286,650 296,122 296,122 |
Resources expended £ (518,021) (261,142) (779,163) (779,163) |
Gains and losses £ 2,568,033 - 2,568,033 2,568,033 |
Movement in funds £ 2,059,484 25,508 |
|---|---|---|---|---|
| 2,084,992 | ||||
| 2,084,992 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Show Account TOTAL FUNDS |
At 1/10/21 £ 382,927 - 382,927 382,927 |
Net movement in funds £ 2,044,278 (95,437) 1,948,841 1,948,841 |
Transfers between funds £ (95,437) 95,437 - - |
At 30/9/23 £ 2,331,768 - |
|---|---|---|---|---|
| 2,331,768 | ||||
| 2,331,768 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Show Account TOTAL FUNDS |
Incoming Resources Gains and Movement resources expended losses in funds £ £ £ £ 41,204 (564,959) 2,568,033 2,044,278 495,133 (590,570) - (95,437) 536,337 (1,155,529) 2,568,033 1,948,841 536,337 (1,155,529) 2,568,033 1,948,841 |
|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30th September 2023.
Page 10
The Great Eccleston and District Agricultural Society Limited
Detailed Statement of Financial Activities for the Year Ended 30th September 2023
| INCOME AND ENDOWMENTS Donations and legacies Membership subscriptions Other trading activities Entry fees Trade space Admissions Catalogues Profit from bar Advertising in catalogue Food hall Craft Investment income Rents received NW tractor pullers Deposit account and other interest RPA receipt Other income Other income Total incoming resources EXPENDITURE Raising donations and legacies Donations VAT partial exemption adjustment Subscriptions and affiliations Printing and stationery Prizemoney Postage and telephone Rosettes and prizecards Judges fees and expenses Advertising Hire of equipment: tents Grandstand Toilets and attendants Car park attendants Security AA signs and cones Equipment (jumps, cages and barriers) Attractions: Hawks Turnouts Tractor pulling Bikes/drums/theatre etc Carried forward |
2023 £ 7,922 18,901 44,612 121,858 388 9,211 650 2,475 2,467 200,562 4,608 4,275 21,426 1,082 31,391 340 240,215 3,954 23,653 2,127 3,720 9,287 7,791 6,256 3,534 13,110 34,973 1,725 8,458 9,200 38,848 2,230 2,473 1,910 3,160 31,610 6,500 214,519 |
2022 £ 5,473 13,633 47,793 195,513 415 21,843 - 1,233 750 |
|---|---|---|
| 281,180 1,576 3,833 1,602 2,458 |
||
| 9,469 - |
||
| 296,122 3,000 23,005 757 5,546 9,971 2,528 4,481 3,850 4,761 31,019 1,315 7,765 4,400 25,663 1,548 1,800 1,910 2,490 30,171 6,510 172,490 |
This page does not form part of the statutory financial statements
Page 11
The Great Eccleston and District Agricultural Society Limited
Detailed Statement of Financial Activities for the Year Ended 30th September 2023
| Raising donations and legacies Brought forward Sheep show Others Overheads: Catering Indemnity re show Show needs and electricity Other Field works Support costs Management Wages Rates and water Insurance Freehold property Plant and machinery Computer equipment Finance Bank charges Other Exceptional items Governance costs Accountancy fees Legal and professional fees Total resources expended Net expenditure before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net (expenditure)/income |
2023 2022 £ £ 214,519 172,490 4,050 4,525 6,621 6,260 7,707 7,225 1,423 1,203 23,705 23,832 258,025 215,535 68,771 40,592 13,578 18,771 1,115 1,313 1,494 942 22,281 16,375 330 - 145 192 38,943 37,593 7,264 7,443 - 472,475 2,800 2,820 563 2,705 3,363 5,525 376,366 779,163 (136,151) (483,041) - 2,568,033 (136,151) 2,084,992 |
|---|---|
This page does not form part of the statutory financial statements
Page 12