REGIERED COMPANY NUMBER: 04980181 (EnglgDd and Wales) REGISTERED CHAIUTY NUMBER: 1108047 Report of the Trnstees and Unaudited Financial Statements for Ihe Year Ended 30 September 2024 for Leicestershire Agricultural Society Ltd Brockhurst Davies Limited I l The Office Village North Road Loughborough Leicestershire LEII IQJ
Ikieestersbire Agricultllral Soeiety Ltd Contents of the Flnanclal Statements for the Year Ended 30 September 2024 Page Report of the Trustees Independent Examinerls Report Statement of Financial Activities Balanee Sheet Notes lo the Finanelal Statements 7 to 13 Detsil¢d Statement of Finan¢i81 Activities 14 to 15
[lees*Cr$hfire Agricultural Sockty Ltd Report of the Trustees for the Year Ended 30 September 2024 Th¢ ITUStees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the fu1¢La1 statements of the charity for the year ended 30 S4)tember 2024. 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 I January 2019). OBJECTIVLS AIYD AcfIviTIES The object of the society is to promote and advance agriculture, horticulture, foresty, farn]ing, the breeding and rearing of livestock, njral crafts and pursuits and allied industries in L£i¢estershire and the surrounding areas. FINANCIAL REVIEW Investment policy The policy is to maintain the investment reium but with the minimum exposure to risk. FUTURE PLANS The Trustees accept the need to have regard to the Charity Commission's guidance on publi¢ benefit. They recognise that it is their responsibility to ensure that the benefits offered by the charity are realised by promoting the charity within the cow. The aim is set out in the objectives above. The organisation believes in being fair, open and inclusive. STRUCTURE, GOVERNANCE AND MANAGEMENT The Society was founded in 1833 and became a company limited by guarantee on l December 2003. The company was established under a Memordndum of Associatioffj which defmes the objects and powers of the company and is governed under its Articles of Association. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member. The affairs of the Society are managed by a Council of Management wmprising the tn of the company who in accordance with the Articles of Asso¢iatlOD do not receive remuneration for acting as ttvstees. The directors are also the trustees of the charity. The nvajor risks to which the Society is exposed are kept under constanl review by the trusiees, and procedures established to mitigate such risks. The Society is registered as a limited company at Companies House (No 4980181) and is also a Registered Charity (No 1108047). REFERENCE AIYD ADMINISTRATtVE DETAILS Reglstered Company number 04980181 (England and Wales) Reglslered Cbarity number 1108047 Regtstered offlee Foxglove House Gallow Field Road Market Harborough Leicestershire LE16 7QB Page I
Leieestershire Agricultural Society Ltd Report of the Trustees for Ihe Year Ended 30 September 2024 Trnstees J Webb C J Brown S E Brown Administrator C A M Walter Administrator M F Stone Admisitrator V Sander Administrator E M Hillman Administrator Independent Examiner Brockhurst Davies Limited I l The Office Village North Road Loughborough Leicestershire LEII IQJ Bankers Barclays Bank PIC Loughborough DIRECTORS INTERESTS The directors did not hold any beneficial interests in the charity at 30 September 2020 or at any time during the year. Approved by order of the board of tn]stees on 18 Septernber 2025 and signed on its behalf by: Jéa J Webb - Truslee Page 2
Independent ExamiDer's Report to the Trnstees of Leicestershire AgrieuItural Soclety Ltd Independent examiner's report to the trustees of LeicestershRre Agricultural Soelety Ltd ('the Company,) I report to the ¢harAty tnteeS on my examination of the accounts of the Company for the year ended 30 September 2024. Responsibilities and basis of report As the charitys trte¢S of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in a¢cordan¢e 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 examinatio I report in respect of my examination of your charity's accounts as crIed out under Section 145 of the Charities Act 201 I Cthe 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Con)mission under Section 145{5) Ib) of the 2011 Act. Independent examlner'$ statement I have completed my examination. I confirni 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 Company as required by Section 386 of the 2006 A¢ or the accounts do not accord with those records; or the accounts do not cornply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the a¢¢ounts give a true and fair view which is not a n)atter 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 comiection 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. P Johnson Brockhurst Davies Limlted I l The Offi¢e Village North Road Loughborough Leicestershire LEII IQJ 22 Septembtt 2025 Page 3
Leicestershire Agrieultural Society Ltd Statemenl of Financial A¢tivitie$ for the Year Ended 30 September 2024 2024 Unrestrleted Dd 2023 Total fill)ds Notes INCOME AThD EIYDOWMENTS FROM Charitable aetivities Show income Subscriptions 43,917 170 Other trading activities Other income 141 30,190 131 30,772 Total 74,248 31,073 EXPENDuRE ON Charitable activities Show income Subscriptions 59,148 18,310 202 484 Total 59?50 18,794 Net gains on invesiknents 1,190 162 NET INCOME 16,088 12,441 RECONCILIATION OF FUNDS Total fimds brought forward 36,801 24,360 TOTAL FUNDS CARRIED FORWARD 52,889 36,801 The notes forn] part of these financial statements Page 4
Lefieestershlre Agricultural Soclety Ltd Balanee Sheet 30 September 2024 2024 Unrestrlctsd fulld 2023 Total fimds Notes FIXED ASSETS Tangible assets Investments 44,201 4,956 42,590 3,766 49,157 46,356 CURRENT ASSETS Debtors Cash at bank 4,000 8.687 612 6.516 12,687 7.128 CREDITORS Amounts falling due within one year (02} {8,749) NET CURRENT ASSETS 4,385 (1,621) TOTAL A&SE]S LESS CURRENT LIABILITIES 53,542 44,735 Amounts falling due after more than one year io (653) (7,934) IYET ASSETS 52,889 36,801 12 Unrestricted fimds 52.889 36,801 TOTAL FUIWS 52,889 36,801 The charitable company is entided to ¢xemption from audvt under Section 477 of the Companies Act 2006 for the year ended 30 September 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006. The tnle¢S acknowledge their responsibilities for {a) ensuring that the charltable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 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 herwiSe comply with the requirements of the Companies Aci 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes forn] part of thes¢ financial statenlents Page 5 continued...
tklcestersbire Agritultsral Sotiety Ltd BalaD¢e She¢t- continued 30 September 2024 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 TThtees and authorised for issue on 18 September 2025 and were SI¢d on its behalf by: JéLJJL J Webb- Trustee The noles forn) part of these financial statements Page 6
Leicestsrshlre Agricultural Society Ltd Notrs to the Finatt¢ial Statements for the Year Ended 30 September 2024 ACCOUNTING POLICIES Busb of preparfing the financial Statements The directors have prepared the accounts on the going concern basis which they consider to be appropriate. The Societys 2018 annual show was heavily affected by the weather and was not a financial success as shown by these financial statements. Plans for the 2019 show are well advanced, fmancial controls have been introduced again and a realistic budget produced which shows thal a surp1$ is likety to be achieved from the 2019 Show to be held in August which should turn the Society to a surplus position. In the meantime, the directors confirnl that they have the fllwicial support frorn the baT]k in respect of an overdrall and of its creditors who have all agreed to a deferred payment plan. The directors therefore consider that the Society will continue to be a going Collcern for the foreseeable future. Income All income is recogni5ed in the Staternent of Financia] Activities onc¢ the charity has entitlement to the fijnds. it is probable that the income will be received and the amount can be measured reliably. Expendhure Liabilities are recognised as expenditure as soon as there is a legal or ¢onstrurtive 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 ihe 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 attril)uted to particular headings they have been allocated to activities on a b&sis consistent with the use of resources. Investment ineome Invesbnent income is accounted for in the year in which the charity Is entitled to receipt. Mis¢eJlaDeous ill¢ome Miscellaneous income is accounted for in the year in which the charity is entitled to receipt. TaDgibk red Pdssets Depreciation is provided on tangible red assets at rates calculated to write off the costs on a reducing balance basis over their expected usefuI lives as follows: Fixbjres, fittings and office equipment -25 /0 per aDnum on reducing b2SiS Challenge cups not depwiated Taxation These flljancial statents are prepared on the b&sis that the company has an exernption under section 505 of the Income and Corporation Tax&8 Act (ICTA) 1988 and that no charge to t&Yation applies. Fund accounting The General fimd is an unrestricted fund which is available for use at the discretion of the trustees in furtherance of the general objectives of the society. Flxed asset Investments ]nvestments are stated at market value at the balan¢e sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the period. Charilable expenditure Charitsble expenditure comprises those costs Incued by the charity in the delivery of its activities. It includes both osts tl]at Can be allocated directly to such activities and those costs of an indirect nature neces58ry to support them. Page 7 ontinued..
Lklcestershlre Agrlcultur81 Society Ltd Notes to tbe FiDan¢ial Statements- contiiiued for the Year Ended 30 September 2024 ACCOUNTING POLICIES- eontlnued Fixed asset investments Support tosts Support costs repreSt the Cost to the charity of th¢ office. Govemance costs include those costs associated with meeting the con5titutioLBI and statutory T4uirements of the Governgnce costs harity. Basis of applicotion of costs The majority of costs are diredty attributable to specific activities. Certain sl]ared costs are app(rtioned as dened appropriate. Donated serykes 8nd f8cllities Where services are provided to the charity as a donation that would nornially be purchased from suppliers, this contribution is included in the fjnancial statements at an estiniate based on the value of the Contnlll10n to the charity. There were no donated services or facilities in the current or prior year, OTHER TRADING ACTIVITIES 2024 2023 J41 131 Investment income NET JNCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting): 2024 2023 3,789 4253 D¢preciation- owne41 assets TRusfEESt REMUNERATION AND BENEFITS There were no trustees, remuneration or other ben¢fits for the year ended 30 September 2024 nor for the Y ended 30 September 2023. continued... Page 8
Leicestershlre Agrlcultural Society Ltd Notes to the FinAneiaI Statements for the Year Ended 30 September 2024 ACCOUNTING POLICIES Basis of preparing the flnan¢ial statements The directors have prepared the accounts on the going concern basis which they consider to be appropriate. The Society's 2018 annual show was heavily affected by the weather and was not a financial success as shoThn by these financial ststements. Plans for the 2019 show are well advanced, fllHncial controls have been introduced again and a realistic budget produced which shows that a sury)lus is likely to be achieved from the 2019 Show to be held in August which should return the Society to a sulUS position. In the meantime, the directors confirn) that they have the financial support from the bank in respect of an overdraft, and of its creditors who have all agreed to a deferred payment plan. The directors therefore consider that the Society wlll continue to be a going concern for the foreseeable fiiture. 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 MUred reliably. Expenditure Liabilities recognised as expenditure as soon as there is a legal or constructive obligation cornmitting the charity to that expenditUTe, it is probable that a transfer of eKonomic benefits will be required in settlement and the amount of the obligation can be measured reliabty. Expenditure is accounted for on an accruals basis and has been Classified under headings that awgate all cost related to the category, Whtte costs cannot be dirertly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Investment income Investment income is accounted for in the year in which the charity is entitled to receipt. Mtseellaneous income Miscellaneous income is accounted for in tbe year in which the charity is entitled to receipt. Tangibk flxed SsetS Depreciation is provided on tangible fixed assets at rates calculated to write off the costs on a reducing balance basis over their expected useful lives as follows: Fixtures, fittings and office equipment -25% per annum on reducing basis Challenge cups not depreciated Taxation These flliancial statements are prepared on the basis that the company has an exemption under section 505 of the Income and Corporation Taxes Act (ICTA) 1988 and that no charge to taxation applies. Fund a¢¢ounting The General fund is an unrestricted fimd which is available for use at the discretion of the trustees in fifftherance of the general objectives of the society. Fixed asset Investments Investments are Stated at nwket value at the balance sheei date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the period. Cbarltable expendlture Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Page 7 continued...
[keSr5hire Agricultural Society Ltd Notes to the Flnancial Statements- CODlinMed for the Year Ended 30 September 2024 ACCOUNTING POLICIES - eonlinu Flxed asset Investlnents Support costs Support costs represent the cost to the charty of maintaining the office. Governance costs Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity. Basls of appllcation of Costs The majority of costs are directly attributable to specific activities. Certain shared costs are apportioned as deemed appropriats. Dollated service5 and facllltles Where services are provided to the charity as a donation that would normally be purchased from suppliers, this contribution is included in the fjnancial statemcnts at an estimate based on the value of the contribution to the charity. There were no donated services or facillties in the current or prior year. OTHER TRADING ACTIVITJES 2024 2023 Investment income 141 NET INCOMEI(EXPENDITURE) Net yncorne/(expenditure} is stated aft¢r chargingl(crediling): 2024 2023 Depreciation - owned assets 3,789 4,253 TRUSTEES, REMUNERATION AIYD BENEFITS There were no tntees, remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023. Page 8 continued...
Leicestershire Agrleultural Soeiety Ltd Notes to the FiDan¢l41 Statements- ¢ODtinued for Ihe Year Ended 30 September 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM CharitabIe actfvltks Subscriptions 170 Ot1 tradmg activities Other income 131 30,772 Totsl 31,073 EXPENDITURE ON Charitable activitie5 Subscriptions 18,310 Other 484 Total 18,794 Net gains on invesiments 162 NET INCOME 12,441 RECONCILIATION OF FUNDS Total funds brought forward 24,360 TOTAL FUNDS CARRIED FORWARD 36.801 Page 9 continued...
Leicestershire Agriculturnl Society Ltd Notes to Ihe Financial Statements - eontinued for the Year Ended 30 September 2024 TANGIBLE FIXED ASSETS Fixtures, fittings & office equipment Challenge cups Totals COST At l October 2023 Additions 69,725 5,400 4.704 74,429 5,400 At 30 Septernber 2024 75,125 4,704 7929 DEPRECIATION At l October 2023 Charge for year 31,839 3,789 31,839 3,789 At 30 September 2024 35,628 38628 NET BOOK VALUE At 30 September 2024 39,497 4,704 44,201 At 30 September 2023 37,886 4,704 42.590 FIXED ASSET INVESTMENTS Investments MARKET VALUE At l October 2023 Net investments gaIn(loS8es} 3,766 1,190 At 30 September 2024 4,956 NET BOOK VALUE At 30 September 2024 4,956 At 30 September 2023 3,766 There were no investment assets outside the UK. Cost or valuation at 30 S¢pt¢mb¢r 2024 is Tepresent¢d by: Investments Valuation in 2023 Valuation in 2024 3,766 1,190 4,956 Page 10 continued...
Leicestersblre Agrlcultural Soelety Ltd Notes lo the Financial Statements - eonltnu¢d for the Year Ended 30 September 2024 DEBTORS: AMOUNfs FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Prepayments and accrned income 4,000 612 4,000 612 CREDITORS: AMOUNTS FALLING DUE WITHIN of•lE YEAR 2024 2023 Hire purch&8e (see note I l) Ac07lS and deferred income 5,600 2,702 5,600 3,149 8,302 8,749 io. CREDITORS: AMOUNTS FALLING DUE AER MORE THAN ONE YEAR 2024 2023 Hire purch&se (see note I l) 653 7,934 11. LEASING AGREEMENTS Minimum lease payments under hire purchase fall due as follows: 2024 2023 Net obligations repayable: Within one year Between one and five years 5,600 653 5,600 7,934 6,253 13534 12. MOVEMEwf IN FUNDS Net movement in fi]nds At 1.10.23 At 30.9.24 Unrestrkted fvnds General fjjnd 36,801 16,088 52,889 TOTAL FUNDS 36,801 iQ088 52,889 Page 11 continued...
Lekestsrshlre AgrAcultural Soclety Ltd Notes to the Financial Statements - continued for the Year Ended 30 September 2024 12. MOVEMENf IN FUIYDS - continued Net movement in funds, included in the above are as follows: Incoming resOUe5 Resources expended Movement in fimds losses Unrestrkted funds General fund 74,788 (59,890) 1,190 16,088 TOTAL FUNDS 74,788 (59.890) 1,190 16,088 Comparatlves for movement in funds Net movement in funds At 1.10.22 At 30.9.23 Unrestrleted funds General fund 24,360 12,441 36.801 TOTAL FUNDS 24,360 12,441 36,801 Comparative net movement in fimds, included in the above are as follows: Incoming Tesources Resources expended Gains and losses Movement in fullds Unrestricted funds General fimd 31,073 (18,794) 162 12.441 TOTAL FUNDS 31,073 (18.794) 162 12,441 A ¢utrent year 12 months and prior year 12 months combined position is as follows: Net movement in fimds At 1.10.22 At 30.9.24 Unrestrfieted thnds General fid 24.360 28,529 52,889 TOTAL FUNDS 24.360 28,529 52,889 Page 12 continued...
Lel¢estershire Agrlcultural Society Ltd Notes to the Financial Statements - continued for the Year Ended 30 September 2024 12. MOVEMENT IN FUNDS- contfinlled A current year 12 months and prior year 12 months ¢ombined net movement in fi]nds, included in the above are as follows.. Incoming R¢sources expended Gains and losses Movement in fimds Unrestrkted funds General fimd 105J21 (78,144) 1,352 28.529 TOTAL FUNDS 105.321 (78,144) 1,352 28.529 13. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 30 September 2024. Page 13
l*ieestsrshire Agricultural Society Ltd Detailed Statemenl of Ffinaneial Actlvities for the Year Ended 30 September 2024 2024 2023 INCOME AND EPIDOWMENTS Other tradlng Vdetlvltks Investment income 141 131 Cbaritable activities Show income Subscriptions Donations and sponsorship Trade show & exhibitors 26,055 loo 3,516 14,246 170 43,917 170 Other Income Rental income 30.190 30,772 Totsl in¢omiDg resources 74248 31.073 EXPEIYDITURE Charitable activities Rates and water Insurance Sulldries Telephone Postage and stationery Advertising Show expenses Trustees expenses Depreciation of tangible fixed assets 1,215 1,847 986 2,262 697 {33) 85 (540) 35,993 114 594 4.253 3,789 42J70 8,873 Other Light and heat 202 484 Support costs Manydgement Showwund rent and repairs Software Bank charges and interest 6,860 4Jll 7,185 269 11,171 7,454 Governance costs Accountancy and legal fees Carried forward 4,883 4,883 1,500 1,500 This page does not forn] part of the ststutory fllwicial statements Page 14
Leleestershfire Agricultural Soclety Ltd Detailed ststenllt of Finaneial Activities for the Year Ended 30 September 2024 2024 2023 Governanee eosts Brought forward Hire purchase interest 4883 524 1,500 483 5,407 1,983 Totsl resources expended 59,350 18,794 Net illcomt before gains and losses 14,898 12279 Reali5ed recognised gains and losses Realised gainsl(losses) on fixed asset investments 1,190 162 Net Income 16,088 12,441 This page does not forn] part of the statutory financial statements Page 15