HENHAM STEAM RALLY LIMITED (A Company limited by guarantee) Con801idated Report and Flnanclal Stat•rn•nt8 For the year ended 31 December 2024 Charity Number 1107330 Company Number 05230768
HENHAM STEAM RALLY LIMITED (A Company limited by guarantee) Consolldated Flnanclal Statements For the year ended 31 December 2024 Contents Page Legal and administrative information Directors, report Independent examinerfs report Statement of financial activitles Consolidated balance sheet 10 Balance sheet- Henham Steam Rally Limited 11 Notes forming part of the financial statements 12-14
HENHAM STEAM RALLY LIMITED Legal and administrative infomiation Charity name Henham Steam Rally Llmited Charity registration number 1107330 Company number 05230768 Registered office 37 Southwold Road Wrentham Beccles, Suffolk NR34 7JE Dlroctors and trustoe8 The directors to the charitable company (the charlty) are its trustees for the purposes of charity law and throughout this report are collectively referred to as the directors. The dlrectors sep41ng throughout the year were as follows: Mr G Scrfven Mr G A Walker Mr R Miller Mr J Crlsp Mr R Baker Mr R Carter Mr A Hardwick Mr P Small Mr J Bridges Rev R Gant Resigned 25 March 2024 Appointed 25 March 2024 Trea8urerlcompany Secretary Mrs R H Carter Accountants Cunninghams, 61 Alexandra Road, Lowestoft. Suffolk. NR32 1 PL Bankers Barclays Bank Plc.
HENHAM STEAM RALLY LIMITED Dlrector8' report for the year ended 31 December 2024 The directors present their report and financial statements for the year ended 31 December 2024. Structure, governance and management Governing document The organisation is a charitable company limited by guarantee, incorporated on 14 September 2004 and registered as a charity on 17 December 2004. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Racrultm•nt and appolntm•nt of directorJ The directors of the company are also charity trustees for the purposes of charity law. Under the Articles of Assoclation one third of the directors shall retire from office, by rotation, annually. Mr G Scriven and Mr P Small retire by rotation and being eligible, offer themselves for re-election. Mr J Bridges resigned on 25 March 2024. Dlrector8' Inductlon and tralnlng All of the current directors are already familiar with the work of the charity having been encouraged to attend and take part in the events organised by the charity and to attend various meetings structuring those same events. The directors are made aware of their responsibilities by being circulated with documentation as issued from time to time by the Charities Commission. The directors are aware of the current changing legislation and will be taking steps to ensure they are aware of the requirements placed upon them as soon as possible. Rl8k management The directors arrange for a risk assessment to be carried out for each event organised by the charity. Where appropriate, systems or procedures have been established to mitigate the risks faced by the charity. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and events. As part of the structure and management of the charity. a health and safety officer is appointed to oversee the organised events and to liaise with the necessary authorities. Procedures are in place to ensure compliance with health and safety of volunteers and visitors to the organised events. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.
HENHAM STEAM RALLY LIMITED Directors. report for the year endod 31 December 2024 Related parties In so far as it is related to the charity's objects. the charity is guided by both local and national policy and in particular takes guidance and advice from NTET. No Director has any financial interest in this organlsation. Objects and actlvltles The companls objects and principal activities are to advance the education of the public by increasing knowledge of and interest in historical mechanically propelled vehicles including (bul without prejudice to the generality of the foregoing) traction engine, steamrollers and other steam vehicles,. other historic machinery including fair organs, fairground and showman's equipment and agricultural machinery and equipment. historic crafts and craftsmanship. The method used to achieve the charitys objectives is to organise events where large variety of exhibits, working displays and examples are gathered together. The public is invited to attend these events where they can see the rnachinery and equipment in action, talk, dlscuss and receive information on not only how they operate but also the social history surrounding them. Achlèvements and performance As in 2023, the weather was good on the Saturday but mixed on Sunday leading to a Iow8r attendance than we would have liked. However, the show was a successful event leading to good results. The ethos of providing different types of visitor attractions wll be continued. as well as making more use of the exhibits already on site. The steam engines will continue to be heavily involved with the public in popular events . In additlon. the tractor demonstrations and other exhibits are being planned along with other educational benefits gave a slightly new and improved feel to the weekend. Once again, we held an education day for children from local schools. This, as in past years had wde appeal and it is planned to contlnue thls as a permanent part of the show. It really goes without saying that we also plan to continue expanding the type of attractions and provide an ever greater variety of working displays for the public education and enjoyment - as an example, 2024 was the first year that we has a dedicated steam car section. Obtaining sponsorship remains a very dilcUlt task with all of the economic pressures currently being felt by individuals and companies. The show would really gain from increased sponsorship, enabling an increase in the educational exhibits to be invited to attend providing further demonstrations for greater public benefit. Publlc benofit The directors are confident that the rally will be performing a useful function in raising public awareness of our mechanical heritage in agriculture and transport. Visitor numbers when weather permits. as well as the positive feedback, continue to support this view.
HENHAM STEAM RALLY LIMITED Directors. report for the year ended 31 December 2024 Flnancial revlew The charity is entirely self sufficient, receiving no grants or other financial assistance. However, it is extremely grateful for the huge amount of volunteer workers - without which it would be difficult to achieve the required results. Investment pollcy Under the Memorandum and Articles of Association, the charity has the power to invest in any way the directors wish. Aside from taking a prudent amount to reserves. the charlty's funds are spent in the short term so there are no funds available for long term investment. The directors having regard lo the liquidity requirements of operating the charity and the reserves policy have operated a strategy of keeping available funds in an interest bearlng deposit account and seeks to maximise the interest received. Because of the actual amounts retained in the cash reserves, the interest recelved remalns at a low level. Given the existing pollcles. this situatlon is Ilkely to remain. Reserves pollcy The directors have examined the charity's requirements for reserves in the Ilght of the risks to the organisation. The reserves are needed to meet the working capital requirements of the charity and the directors are confident that at the present level they would be able to continue the current activities of the charity. The amount of the reserve is calculated at a level which will fund the following year In the event of disaster which would prevent the rally going ahead at very short notice. This policy is reviewed on an annual basis. Plans for futurè periods The directors and trustees continue to work hard to provide an entertaining and educational show whilst bearing in mind the needs of the public and the demonstrations of the large number of exhibits on display. New challenges are facing the directors every year and whilst some new volunteers have been found to cover the immediate period of the show, with the increased age of the post holders of significant roles, there is a continued search for volunteers to cover their all year round work. The trading name has be8n changed to Hemham Steam and Country Show. thus encompassing the wide variety of exhibits, and to promote the event as a weekend for all the family to enjoy. The directors feel that this has achieved moderate success this year and they wll continue to promote the show in this light.
HENHAM STEAM RALLY LIMITED Directors. report for the year ended 31 December 2024 Responslbllltles of the dlrectors Company law requires the directors to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its income and expenditure for the financial year. In preparing the financial statements, the directors are required to: select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent,. and prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis The directors are responsible for maintaining proper accounting records vthich disclose with reasonable accuracy at any tlrne the financlal position of the charitable company and to enable them to ensure that financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Accountants Cunninghams were the companvs accountants durlng the year and have expressed their wllingness to continue in that capacity. Accordingly, a resolution will be proposed at the Annual General Meeting that Cunninghams be re-appolnted as accountants to the charity for the ensuing year. Thls report has been prepared in accordance with the Charities Statement of Recommended Practice (FRS 102), and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approv8d by th8 d1CtOrS on and signed on its behalf by G Scriven Director
HENHAM STEAM RALLY LIMITED Indopendgnt gxamlners report to the trusl•8$ of Honham Sleam rally Llmlled ('thg Charfty I report lo the tnjstees on my examlnation of the a¢¢ounts of the above charity (The Trust) for the year ended 31 Oecember 2024. Rfrsponslbllltlos and bas1$ of rnport As the charitys trustees you are responsible for the preparation of the accounts in accordan¢e with the requ1MentS of the Charities Act 20111'th8 Act.). I report in spOC1 of my examlnation of your Charity's accounts carried OLrt under section 145 of the 2011 Act and in carrwThJ out my examination, I hav6 followed all the applicable Directions given by the Charity Commission under section 145{5) Ibl of the Act.. Indop•nd•nl examlnor8' •tatom&nt I have compl8ted my examination. I confimi that no material matters have como to my attention in connection with the examinats'on which gives me cau88 to boliove that in. any material respect: the accountlro records were not kept in accordance with section 130 of The Charities Act; or th& accounts did not accord with the accounting records.. or th8 aco)un15 did not mplY with the applicable requirements concemlng the fomi and content of accounts set out in the Charities {Accounls and Reports) Regulations 2008 olher Ihan any requirement that the accounts give 8 Irue and fairf view which Is not a matter considered as part of an independent examination. I have no con¢8ms and have come across no other matters in connectlon vllh the examinallon to bthi¢h attèntion should be drawn In this report in order to enable a proper undersland5ng of the accounts to be reach8d. Gary Hall FCCA CUNNINGHAMS Number Sixty On& Alexandra Road Lowestoft Suffolk NR32 1PL Date.. Page 8
HENHAM STEAM RALLY LIMITED CONSOLIDATED Statemont of Flnanclal Actlvltlès {InGluding in¢omo and 8xponditur• 4c¢ount) For the yoar ondod 31 D•c•mb•r 2024 2024 2024 Unr•8trlctsd R•itrlcted Funds Funds 2024 Totsl 2023 Unr•itrlct•d Funds 2023 RoStrici•d Funds 2023 Total Nots8 Incomlng r••ourc•• Incomlng r•sourc•• from g•n•rat•d funds.. Voluntary Income.. Spon59rship and donotlon 3,696 3,696 4,435 4,435 Invgstment Ino)me 1.608 1,608 Incomlng r••our¢•• from ¢h*rlt•bl• actlvltlu: Opor4tbn of ralty 200.011 1,011 201,022 186,974 897 187,871 Total Incomlng MOU•$ 205,31 S 1.011 206.326 192249 897 193,146 R••ourc•# •xp•nd•d Charltable 8CtfvWes Operallon of rally 197,286 197,286 183,730 183,730 Govemanca costs 1.237 1.237 1.032 1.032 Total r•Bourc•• •xp•nd•d 198,523 198.523 184.762 184.762 N•t mov•m•nt In fund• 6.792 1.011 7.803 7.487 897 8.384 Funds brought forward 80,536 10,414 90,950 73,049 9,517 82,566 Total fund• carrl•d forward
HENHAM STEAM RALLY LIMITED CONSOLIDATED BALANCE SHEET As at 31 December 2024 2024 2023 Current assots Debtors Stock Cash at bank and In hand 10 500 1,150 167,112 500 895 104,258 168,782 105,653 Creditors: amounts falling due within one year 11 (70,009) (14,703) Net assots 98,753 90,950 Unre8trlcted funds 12 87,328 80,536 Rostrlcted fund8 12 11,425 10,414 Net funds 98,753 90,950 The company is entitled to exemptlon from audlt under Sectlon 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 In accordance wlth Section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for ensuring that Ihe company keeps accountlng records which comply with Section 386 and 387 of the Companies Act 2006. The directors acknowledge their responsibilities for preparing financial statements which give a true and fair view of the state of the affairs of the company as at the end of each financial period and of its profit or loss for each financial period 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. These financial statements have been prepared in accordance viith the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by the directors and trustees on lil and signed on its behalf by: G Scriven Director 10
HENHAM STEAM RALLY LIMITED BALANCE SHEET As at 31 December 2024 2024 2023 Flxed assets Investments Current a880ts Debtors Cash at bank and in hand 10 5,094 86,166 6.415 78.051 91,260 84,466 Current Ilabllltle8 Creditors.. amounts falling due within one year 11 Not current assot• 91,260 84,466 Total a•sots le88 current Ilabllltl08 91,261 84,467 Unrn8trlcted funds Re8trlcted funds 87,330 3,931 80,536 3,931 91,261 84,467 The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not required the company to obtsin an audit of its fi'nancial ststements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006. The directors acknowledge their responsibilities for preparing financial statements which give a true and fair view of the stste of the affairs of the company as at the end of each financial period and of its profit or loss for each financial period in accordance with the requirements of Sections 394 and 395 and which otheNise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. These financial ststements have been prepared in 8ccordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by the directors and trustees on 231117< and signed on its behalf by.. G Scriven Director 11
HENHAM STEAM RALLY LIMITED Nolos forming part of the Flnancial Statements For th• year ended 31 December 2024 1 Stalutory Informatlon The company is limited by guarantee, registered in England and Wales. The cornpany has no share Capital and the liability of each Iruslee in the event of a winding up Is1Smited to £1. Th8 company's r8gSslered number and office address can be found on the legal and administrative information page. 2 Accountlng pollcl•8 al Ba$18 of proparatlon of tho finanGial stalomgnts These financial statements have been prepared in accordance with Accounting and Reporting by Chariues.. Stsiemenl of Re¢ommend8d Pracllce applicablè lo charities preparing their accounis in accordance with th8 Financial Reporting Standard applicable In the UK and Rtspublic of Ireland IFRS 1021 leffective 1 January 20191, wllh FRS 102 and with the requiremènts ol the Companies Act 2006 and the Charities Act 2011. b) In¢omlng rosourcos Al incoming resources are Included In th8 stslemenl ol financial affairs and are recognised on the followlng policlg$'. Investment Income Is recognlsed on a recelvable basls. Income from othèr aetivilie$ 1$ recognlsed as earned, Sponsorship income is raised Irorn tjonors for specinc purposes and is recognised conl8mporaneou¥ly wllh the expgndilurg on Ihose same purpo$g$. cl Volunto•rs and donated 8orvlc•s and f•cllltlo8 The value ol 8eNices provlded by vtrlunlegrs or donors are nol incorporated into these flnanclal stalemtrnls. di R••ourc•• èxp•nd•d ExpgndllLJr8 Is recognised on an accrual basis when a liability is ineurrèd. ExpendSluro Includes any VAT whlch cannot be recovered, and is raported a$ part of the expenditure lo which il relates. Governan¢8 Costs Include those costs assoclaled with meeting the constilullonal and $tstulory requirements of the charity charity and includ8 thè audlt fees and costs linked lo the management ol th& charity. Flx•d 188•t• No major Item of pIts1 oxpendilure has been incurred and a poliey of not capilali51ng any Item ol less than £500 h48 bgen operated. 3 Rolatod rtY transactlon3 The charity directors received no emoluments or payment lor professional servlces provlded durlng the year. Expenses Incltrred wholly and exclusively on behalf ol the charity amounting lo £70212023 - £5211 were reimbursed to a dlreclor. No Iruslee or other person related to th¢ ¢harlty had any personol Interest In any conlracl or tr8nsaclion entered into by the charity. 4 Sponsorshlp and donatlon 2024 Unr•stri¢tgd 2024 R••tricl•d 2024 Tolal 2023 UnroslriGl•d 2023 Rgstrlctgd 2023 Tolal Donation Sponsorship 1,096 2,600 1,096 2,600 835 3.600 835 3,600 3,696 3,696 4.435 4,435 12
HENHAM STEAM RALLY LIMThED Not•s forming part of thg Financlal Statements For the yoar gndod 31 Do¢emb•r 2024 5 Incomlng rosourc•• . op•ratlon of rally 2024 UnrestrlGtod 2024 R•8trlct•d 2024 Total 2023 Vnr•strlct•d 2023 Rojtrlctgd 2023 Total Admission ¢h4rge$ and p[ramme3 Stalls Caravans 123,389 56,942 19,680 123.389 57,953 19,680 117,827 50,429 18,718 117,827 51.326 18,718 1,011 897 200,011 1.011 201022 186,974 897 187,871 6 R•sourc•• •xp•nd•d . op•rallon ol rally 2024 Unrostrlct•d 2024 Rmtrictod 2024 Total 2023 Unr•strlct•d 2023 R••trl¢t•d 2023 Total Costs of 8xhlblts and dl8plar Adminislratlon Slte p&rsonn81 Slts costs 39.883 28.928 59,419 69.056 39,883 28,928 59.419 69.056 32,731 27,390 51,230 72,373 32,731 27.390 51,236 72,373 197 286 197.286 183730 183,730 7 Gov•rnanc• GOSt• 2024 2023 Accountancy f888 1,237 1,032 1,237 1.032 8 8t•fflng Thè charlty ha¥ no employees and all of the work18 done throughout the year by 8 number of volunteers Supplemented by contracted In s0Ces. 9 Taxatlon The company Is a regislared eharfty and no provl¥lon Is consldered necessary for tax8110n. 10 D•btor• Group 2024 Company 2024 Group 2023 Company 2023 Prepayments and ared income Amount due from sub8idlary companies 500 soo 5,094 6,414 500 5,094 500 6,414 13
HENHAM STEAM RALLY LIMThED Notgs fornilng part of thg Financlal Statoments Fort ar ondod 31 D0mb•r 2024 11 Cr•dltor8 Group 2024 Company 2024 Group 2023 Company 2023 Tradts crèdltors Accruals Bank overdraft Plant fund Carbon offset fund 1,101 6,285 54.044 5.879 2.700 3.127 2.697 5.879 3.000 70.009 14.703 12 M¢)v•m•nt In fund• At1Jan 2024 IncomlDg To•ource Outgolng ro¥our¢o¥ At 31 Doc 2024 Unre51rfcled fund8 80.536 205,315 (198,5231 87,328 Restrfcled funds 10.414 1,011 11,425 208,326 198523 98,753 Purposes of reslrfclgd fvnd8: Paymttnts for 8ts11$ arè ffjeélv8d by tho ¢harfty in odvance of the actual events and ore normally non-refund8ble. To mlugate any1088 lor any stallholder, thè dlrèclors have sel up a scheme whereby, for a small p8ymenl Irom the stsllholdor, non attendance undgr cartaln clr¢umstances would rnsull In g refvnd. 13 Av•rag• Numb•r of Emplo>••• Group 2024 Company 2024 Group 2023 Company 2023 Average number of employe88 14