Company registration number: 05177105 Charity registration number: 1107710
The Brecknockshire Agricultural Society
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 30 September 2022
The Brecknockshire Agricultural Society
Contents
1 to 5 Trustees' Report 6 Independent Examiner's Report 7 Statement of Financial Activities 8 Balance Sheet 9 to 16 Notes to the Financial Statements
The Brecknockshire Agricultural Society
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 30 September 2022.
Objectives and activities
Objects and aims
The Company's objectives and principal activities are to encourage agriculture and to promote the general good of the same, particularly in the shire of Brecknock, insofar as such objects are for the public benefit. Breconshire Agricultural Society has played a leading role in the promotion and development of agriculture and rural economy in the county of Breconshire and Wales for over 250 years since its formation in 1755. Our main objectives are to:-
To hold an annual show to promote agriculture, horticulture, forestry and conservation in the County
To encourage the exhibition of the best livestock, horses, poultry, farm and horticultural in the locality
To bring the "countryside to town" to give the wider public an opportunity to integrate with the rural community to gain a better understanding of the countryside, how their food is produced and promote excellence in the production of locally produced stock and produce from the welsh countryside.
To bring the rural community together to discuss issues and share best practice
To run a County wide awards competition for exhibitors of Cattle, sheep and young handlers
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Use of volunteers
The Company enjoys the assistance of an Administrator, who is also the company secretary, but all other duties are performed by some 300 volunteers. The success of the show is therefore wholly dependant on the immense effort, by people giving up their time freely, which is greatly appreciated by the Committee of the Company.
Achievements and performance
As ever the Society remain committed to its objectives and aims by holding an annual show to encourage the exhibition of quality livestock and to promote agriculture, horticulture, forestry and conservation in the County of Powys. Accumulating in our principle aim to bring the countryside to town at our annual show and give the wider public an opportunity to integrate with the rural community.
Needless to say like so many other outdoor events after not holding a show for two years due to Covid we did not know what to expect, But we took the view to plan as normal although from a financial point of view it was risky as the cost of all our outgoings were going by up to 15% but all our income streams remained at pre -covid rates. Fortunately despite the hot summer which had devastated the attendance for the first two days at the Royal Welsh the weather was perfect and we are able to boast a record crowd by some margin. The feedback from the day was enormously encouraging with a common theme of congratulating us on an excellent show and terrific value suggesting we are very much achieving our charitable objectives.
Page 1
The Brecknockshire Agricultural Society
Trustees' Report
Like all the Agricultural Societies in the country that host a County show we are fortunate we have a very active Committee and the support of around 300 volunteers. In terms of this year's event as indicated above the uncertainty of our first post covid show did fill us with many concerns, would people have the confidence to come, would it be successful, would it be viable given the inflated costs? But that being said as the year evolved we were encouraged by the number of third party pre-bookings coming in for the showground and in May our Presidents put on an excellent event at their home farm focusing on the future of farming with the impact of the need to reduce our carbon emmissions. Show day planning went ahead as normal but for a change it was the hot temperatures that started to give us concern not the threat of rain but we were fortunate that the temperatures eased and we had prefect weather on the day. As is evidenced by the accounts the costs did rise significantly but this was more than covered by the record gate.
Financial review
Policy on reserves
The General Committee has examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be sufficient to cover the costs of the charity for a period of approximately two years, being in the region of £195,000. The level held at 30 September 2022 amounted to £154,117. The reserves are needed to ensure that costs that need to be committed during the organisation of the charity's main activity, being the Annual County Show, can be met both for the current year, and the following year, in the event of external influences forcing late cancellation of the show, with the consequential loss of income.
Principal funding sources
The society’s main sources of income comes from membership, trade stands, entries, sponsorship, catering rights, a president's event, licencing the show ground but the principal source coming from the show day gate receipts. This year we were blessed with an excellent day's weather which yielded record gate receipts, supported by a very good President's event and record third party events on the showground.
Investment policy and objectives
Presently the Company's Policy is to invest annual surplus funds into National Savings Bonds and to apply income to pay the overheads of the Society and to fund improvements on the show ground.
Plans for future periods
Future developments
During these difficult times we have been well lead by Chairman Mr Allan Roberts and enthusiastically supported by our Joint Presidents Richard and Helen Roderick. It is a pleasure to be able to report that we have had a very good year which has been a financial success but the underlining theme remains that the financial viability of the society still depends on third party income in the guise of licencing the show ground for events and a successful President's event. The big change that will affect the Society next year is that the income has now exceeded 85k for several years and is unavidable that we register for VAT, that does cause us a major head ache as we will not be able to absorb the 20% from our income and it is inevitable that we will have to put our entrance fee up.
Page 2
The Brecknockshire Agricultural Society
Trustees' Report
Reference and Administrative Details
| Trustees | D G Davies |
|---|---|
| H G Davies | |
| K B Davies | |
| R Davies | |
| C B P De Winton | |
| F E W Gittoes | |
| G Lewis | |
| A Matthews | |
| P S J Morgan | |
| J W Phillips | |
| G Price | |
| E A Roderick | |
| R J Roderick | |
| W T Stephens | |
| C Thomas | |
| C M B Wright | |
| Registered Office: | St Davids House |
| 48 Free Street | |
| Brecon | |
| Powys | |
| LD3 7BN | |
| The charity is incorporated in Wales. | |
| Company Registration Number: | 05177105 |
| Charity Registration Number: | 1107710 |
| Bankers: | Lloyds TSB Bank Plc |
| Brecon (772703) Branch | |
| 38 High Street | |
| Brecon | |
| Powys | |
| LD3 7AR | |
| Independent Examiner: | Mitchell Meredith Limited |
| Chartered Accountants | |
| St Davids House | |
| 48 Free Street | |
| Brecon | |
| Powys | |
| LD3 7BN |
Page 3
The Brecknockshire Agricultural Society
Trustees' Report
Structure, governance and management
Nature of governing document
The organisation is a charitable company limited by guarantee, incorporated on 12 July 2004 and registered as a charity on 19 January 2005. The assets of the previous unincorporated charity were donated to the company on the 31 March 2005, at which point the charity commenced activities. 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 £10. Advantage has been taken of Section 30 of the Companies Act 1985 exempting the company from the requirement to show limited with its name.
Recruitment and appointment of trustees
The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as Members of the General Committee. Under the requirements of the Memorandum and Articles of Association the Officers of the Society are elected annually at the Annual General Meeting, and consist of a President, Chairman, Vice-Chairman, Treasurer and not more than two Show directors. The Members of the General Committee consist of the Officers referred to above, the immediate past Chairman and no more than 40 members of the society elected annually by ballot at the Annual General Meeting.
Induction and training of trustees
Most Trustees are familiar with the work of the charity having participated in the events organised by the charity over a period of years. New trustees are familiarised with the work of the charity by the existing and continuing members of the General Committee.
Organisational structure
The Brecknockshire Agricultural Society has a General Committee consisting of the Officers of the Society, the immediate past Chairman and no more than 40 members of the society.
There is a committee for nominating the President, which consists of the Chairman and 5 members of the society elected annually at the Annual General Meeting. The sole function of this Committee is to nominate a person or persons for election as President or joint Presidents of the Society.
There is an Executive Committee consisting of the Chairman, Vice-Chairman, Treasurer, the Show directors and the immediate past Chairman. The Executive Committee has the power to co-opt not more than two additional members who must be members of the General Committee.
Relationships with related parties
The Company does work closely with other local shows and organisations such as the local rugby club. We readily makes the showfield available for third parties and other charitable uses and assist them putting on shows and events using the Company's facilities.
Page 4
The Brecknocksbire Agricultural Society Trustees, Report M&Jop nskf qnd man•vge{Noth05t fffsAs Rk manage$ The fj¢nerai Committee has ¢onductrJ a review of th¢ major Tisks to which the charity is expo and establisbed systems and pr(>cedures to mitigate the risks the charity faces. The revicw idelliified Health and Safety tnatters as a tnajor atea of collcern and the General Coll)llte h&s therefoTe app)inted a Health and Safery officer wljo produces an amiual risk assessment and an annual report on activitie5 oll the rharitys Ptopety. This is reviewed by the General C(yllJmitt4 along other ri5k4 and sy5tCrnS 8nd procedures updated ab wuired. Statement of Trusts. Responsibilities The trusitts (W are also the direciors of The BrknockShire Agricultural S(¢iety for thc purposes of company law) are responsible for prepaTing the trusitts. report ald the financial statem¢nts in accorda< with the United Kingdom Actounting Stsndarth (Uni*d Kingdom G¢n¢r81ly A¢¢ept&l Accounting Practice) and appli¢able law and regll]ations. Company law requires the tswtees to pw financial sthteEnents for ea¢h financial yw. Under cotnpany law the knistee5 llllLSt not approve the fllmncial statements UDle5s they are satisfied that they give a tsue alld view of the state of affair5 of the charitable ¢¢)rnpany and of its iDCOllhiD8 rewurces and 8pplicaiion of resources. including its illCOTne and expenditt]re, for that period. []] preparing these financial statements, the trustees are required to: seleet suitable accountia)g )lIcIeS and alY them c(nsist¢DtIy" observe the methods and principles in the Chariiies SORP. rnake jlldgcments and estimates that are reasonable aod pnth; stat¢ Th'hethef applicable UK Accounting Stsndards haTrc been followai subject to any trjateriai departures dis¢losed and explained LD the financial StatenmI 8nd prepare the financial staiernenLS on the going concern b&sis unless it is iDaNwriat¢ to presume tbat tbe charitsble eowally will ¢ontinue in b8)n. The trllsttes are responsible for keqiing Wte accounting records tbat are sufficient to 5knw and explain the haritable company's ttans&tious and thsclose P4lth r¢ttable ac¢ura¢y at any time the fillanoial position of the charitable oompany and ellable them to ensure that the financial statemellts comply with tb¢ CopaniC5 Act 2006. They are aLso responsible for 5afeguardtDg the &8sets of chaTitable Comwiy and hence for tsking T¢&80Dabk steps for the ptevelltion alld detection of fraud and other irregulariti¢ The atmual rwt was woved by the trusÈees of the cljarity on 16 Febru8ry 2023 Si on its behalf by.. TA__ C Thom8S Trust¢¢ Pag¢ 5
The Brecknockshire Agricultural Society
Independent Examiner's Report to the trustees of The Brecknockshire Agricultural Society ("the Company")
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2022.
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 Brecknockshire Agricultural Society 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:
-
accounting records were not kept in respect of The Brecknockshire Agricultural Society as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
M L Barnes - FCCA, FCA Chartered Accountants Mitchell Meredith Limited
St Davids House 48 Free Street Brecon Powys LD3 7BN
16 February 2023
Page 6
The Brecknockshire Agricultural Society
Statement of Financial Activities for the Year Ended 30 September 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Voluntary income 3 Charitable activities 4 Other trading activities 5 Investment income 6 Total Income Expenditure on: Charitable activities 8 Other expenditure 7 Total Expenditure Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 19 |
Unrestricted £ 6,067 96,116 29,107 383 131,673 (101,249) (11,570) (112,819) 18,854 18,854 248,122 266,976 |
Restricted £ - - - - - (250) - (250) (250) (250) 2,582 2,332 |
Total 2022 £ 6,067 96,116 29,107 383 131,673 (101,499) (11,570) (113,069) 18,604 18,604 250,704 269,308 |
Total 2021 £ 4,966 - 8,875 260 |
|---|---|---|---|---|
| 14,101 | ||||
| (12,705) (5,590) |
||||
| (18,295) | ||||
| (4,194) | ||||
| (4,194) 254,898 |
||||
| 250,704 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 19.
The notes on pages 9 to 16 form an integral part of these financial statements. Page 7
The Brecknhlre Agricultural Society Oiegfistration number: 05177105) Balanee Sheet as at 30 September 2022 2022 2021 Note Flxed 45sets Tangpble a&se 14 69.945 70.790 Inveslm¢nts 15 145.244 145244 215.189 216.034 Currettt As1• Debtors 16 2,1 1.631 Cash at bank and in haTr 17 55,255 36.519 57,355 38,150 Credhtsrs: Amouttt• falllni due wlthlA one ye•r Net ¢TTent a5ts 18 3,236 3.480 54,119 34,670 ]Yet as$ets 269.308 250.704 Fund8 of the ¢h#rlty: Restrleted lttcome fundi Restricted furtds 2J32 2,582 Unrestrlcted ltt¢ome fundi Unrestricted funds 266.976 248,122 Totlll fund 19 269 308 250,704 For the financial year eDdin8 30 September 2022 the cbarity was entidd to exanption frotn audit ullder section 477 of the Companies Act 2006 relating to small eotwies. Directors, respoDsibilities.' The members have not require4J the clwity lo obtsin aD audil of its a¢¢oullts for the yeoT in queslion in accordance with 3¢ction 476. and The dITlO[S acknowled¥e their respon5ibiliti¢S for conwlymg witb the of the Act with Arspeei to accoun¢in¥ records and the prepaLXLion of roU0 The financial Staterne OD pages 7 to 16 were approv by the tnrn and authorised for issue on 16 February 2023 alld $i¢d on their behrby. C Thoma5 Trustee The notes on pag¢5 9 to 16 foTm an iDt¢gTrl part olthese finan¢i#l stalanenl& Page 8
The Brecknockshire Agricultural Society
Notes to the Financial Statements for the Year Ended 30 September 2022
1 Charity status
The charity is limited by guarantee, incorporated in Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
The address of its registered office is: St Davids House 48 Free Street Brecon Powys LD3 7BN
These financial statements were authorised for issue by the trustees on 16 February 2023.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
The Brecknockshire Agricultural Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 9
The Brecknockshire Agricultural Society
Notes to the Financial Statements for the Year Ended 30 September 2022
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at cost at the balance sheet date.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Page 10
The Brecknockshire Agricultural Society
Notes to the Financial Statements for the Year Ended 30 September 2022
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Financial instruments
Recognition and measurement
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
3 Voluntary income
| Subscriptions and donations | Unrestricted funds £ 6,067 6,067 |
Total 2022 £ 6,067 6,067 |
Total 2021 £ 4,966 |
|---|---|---|---|
| 4,966 |
Page 11
The Brecknockshire Agricultural Society
Notes to the Financial Statements for the Year Ended 30 September 2022
4 Income from charitable activities
| Annual County Show 5 Income from other trading activities Fundraising income Rental income 6 Investment income National Savings Bond Interest 7 Other expenditure Note Fundraising events direct costs Allocated support costs 9 |
Unrestricted General £ 14,315 14,792 29,107 Unrestricted funds £ 383 Unrestricted General £ 4,784 6,786 11,570 |
Unrestricted funds £ 96,116 Total 2022 £ 14,315 14,792 29,107 Total 2022 £ 383 Total 2022 £ 4,784 6,786 11,570 |
Total 2022 £ 96,116 |
|---|---|---|---|
| Total 2021 £ 81 8,794 |
|||
| 8,875 | |||
| Total 2021 £ 260 |
|||
| Total 2021 £ 163 5,427 |
|||
| 5,590 |
Page 12
The Brecknockshire Agricultural Society
Notes to the Financial Statements for the Year Ended 30 September 2022
8 Expenditure on charitable activities
| Note Direct costs Allocated support costs 9 Governance costs 9 |
Unrestricted General £ 77,684 16,157 7,408 101,249 |
Restricted £ - 250 - 250 |
Total 2022 £ 77,684 16,407 7,408 101,499 |
Total 2021 £ 634 8,602 3,469 |
|---|---|---|---|---|
| 12,705 |
9 Analysis of governance and support costs
Governance costs
| Independent examiner fees Examination of the financial statements Allocated support costs |
Unrestricted funds General £ 2,317 5,091 7,408 |
Total 2022 £ 2,317 5,091 7,408 |
Total 2021 £ 1,630 1,839 |
|---|---|---|---|
| 3,469 |
Analysis of support costs
| Administration Premises Office Expenses Bank charges Depreciation |
Charitable Activity 1 £ 7,307 81 5,173 3,847 16,408 |
Other Activity 2 £ 1,124 3,967 796 - 899 6,786 |
Governance Function £ 2,811 - 1,990 291 - 5,092 |
Total 2022 £ 11,242 4,048 7,959 291 4,746 28,286 |
Total 2021 £ 4,966 3,800 1,892 124 5,086 15,868 |
|---|---|---|---|---|---|
Page 13
The Brecknockshire Agricultural Society
Notes to the Financial Statements for the Year Ended 30 September 2022
10 Net incoming/outgoing resources
Net incoming/(outgoing) resources for the year include:
| Depreciation of fixed assets | 2022 £ (4,746) |
2021 £ (5,086 |
|---|---|---|
11 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
12 Independent examiner's remuneration
| Examination of the financial statements | 2022 £ 2,317 |
2021 £ 1,630 |
|---|---|---|
13 Taxation
The charity is a registered charity and is therefore exempt from taxation.
14 Tangible fixed assets
| Cost At 1 October 2021 Additions At 30 September 2022 Depreciation At 1 October 2021 Charge for the year At 30 September 2022 Net book value At 30 September 2022 At 30 September 2021 |
Land and buildings £ 105,585 3,901 109,486 39,316 3,616 42,932 66,554 66,269 |
Furniture and equipment £ 51,418 - 51,418 46,897 1,130 48,027 3,391 4,521 |
Total £ 157,003 3,901 160,904 86,213 4,746 90,959 69,945 70,790 |
|---|---|---|---|
Page 14
The Brecknockshire Agricultural Society
Notes to the Financial Statements for the Year Ended 30 September 2022
15 Fixed asset investments
| Show Site Fund National Savings Income Bonds |
2022 £ 45,244 100,000 145,244 |
2021 £ 45,244 100,000 |
|---|---|---|
| 145,244 |
All investment assets were held in the UK.
On the 7 May 1982 a trust, known as the Show Site Fund, was set up to enable the purchase of 29.58 acres of freehold property used for the annual show, which was then leased to The Brecknockshire Agricultural Society on a 299 year lease, expressly to be used only for the purposes of the society.
This was funded by investment from The Brecknockshire Agricultural Society and some 315 individual investors, with total funds of £82,462. Since that date a number of the individual investors have sold or donated their share to The Brecknockshire Agricultural Society, and the site fund now has some 285 individual investors holding the balance of the funds, in addition to the 53% held by The Brecknockshire Agricultural Society.
16 Debtors
| 16 Debtors | ||
|---|---|---|
| Trade debtors Prepayments 17 Cash and cash equivalents Cash at bank 18 Creditors: amounts falling due within one year Accruals and Advance Income |
2022 £ 560 1,540 2,100 2022 £ 55,255 2022 £ 3,236 |
2021 £ - 1,631 |
| 1,631 | ||
| 2021 £ 36,519 |
||
| 2021 £ 3,480 |
Page 15
The Brecknockshire Agricultural Society
Notes to the Financial Statements for the Year Ended 30 September 2022
19 Funds
| Unrestricted General Restricted Funds Brecon Town Council Grant Total funds |
Balance at 1 October 2021 £ (248,122) (2,582) (250,704) |
Incoming resources £ (131,673) - (131,673) |
Resources expended £ 112,819 250 113,069 |
Balance at 30 September 2022 £ (266,976) (2,332) |
|---|---|---|---|---|
| (269,308) |
The specific purposes for which the funds are to be applied are as follows:
Brecon Town Council Grant represent funds received towards the cost of improving the infrastructure at the show field, in particular improvements to access and road structures.
20 Analysis of net assets between funds
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted General £ Restricted £ 67,613 2,332 145,244 - 57,353 - (3,236) - 266,974 2,332 |
Total funds £ 69,945 145,244 57,353 (3,236) |
|---|---|---|
| 269,306 |
21 Related party transactions
There were no related party transactions in the year.
Page 16