R•gist•r•d Company numbor 04839768
Th• Val• of Glamoryan Agrl¢uftural Soclaty
(A company Ilmit•d by guarant••)
Report and flnan¢lal stat•m•nts
Year •nd•d 31 D•¢•mbor 2024
Charlty numbor 1108960

Th Valo of Glamorgan Agrlcultural Sooloty
Indèx to the Accounts
Year •nded 31 December 2024
Pag•
Legal and Administrative Infonnatlon
Report of the Management Committeé
Independent Examiners, Report
Statement of Financial Activities
Balance Sheet
Note8 Forniing Part of the Flnancial Statements
8-12

Th• Val• of Glamorqan Agrlaultural 8001•ty
R•port of th• Manag•m•nt Committ••
Y•ar •nd•d 31 D•o•mb•r 2024
Adminlstratlve Inforniatlon
Charlty and Company Nam•
The Vale of Glamorgan Agricultural Socfety
Charlty R•qistratlon Numb•r
1108960
Compary R•glstr4tlon Numb•r
4839758
R•glst•r•d Offlè• and Op•r￿lan*1 Addr•ss
Ltys Ffynnon
Penllyn
Nr CfAvbrldge
Vala of Glamorgan
CF717RQ
Manag•m•nt Commltt••
A G Thomas
A Thomas
Chalr (retired 12 Septembar 2024)
J Hank8
Chalr (appointsd 12 September 2024)
Show Dlr8Ctor
H J Price
Treasurer
J Amott
A E Bank8
D E Harrls
LMPrke
C Thomas
l Thomas
H Slmmond8
Company 8•¢r•tary
S Fenner
Ind•p•nd•nt Examln•r
Williams Ross Limlted, 4 Yny8 Brldge Court, Gwaelod y Garth, Cardiff, CF15 9SS
Bank•rs
HS8C, 61 High Street, Cowbridge, South Glamorgan CF711YJ
Inv￿tM•nt Portlollo Fund Manag•rs
NFU Mutual Select Investments Limited, Tiddlngton Road, Stratford-upon-Avon, Warwlckshlre, CV37 7BJ

Th• Val• of Qlamorgan Aqriouftural Sool•ty
R•port Of th• Managwn•nt Commltte•
Y•ar •nd•d 31 D•o•mb•r 2024
The management Committee are pleased to present their annual report together wFth the financial statements of
the charity for the y9ar ended 31 December 31 December 2024 which are also prepared to m*t the requiremen18
for directors, report and accounts for Companles Act purposes.
The financlal statements have been prepared in accordance with the accountlng pollcles set out In notes to th8
accounts and comply with th6 charity's goveming documenL th8 Companies Act 2006, th8 Charities Act 2011 and
A¢￿¥UntInG and Reporting by Charities: Financial Repo￿.n9 Standard applicable in Ihe UK and Republlc of Ireland
(FRS 102).
Stru¢turn. Gov•rnano• and Manaa•mont
Gov•rnlng D•¢um•nt
The organSsation is a charftable company limtted by guarantse, Incorporated on 21 Juty 2003 and reglster8d as a
charlty on 11 Aprll 2005. The company was establi8hed under a Memorandum of A880cl8tion which establlshed
the objects and powers of the charltabl8 company and 18 govemed und8r its Articles of A88oclation. In tho evant
of the company being wound up mernbers are r8qulred to contribute an amount not exceeding £1.
R•oruttm•nt and Appolntm•nt of Manag•m•nt Commltt
The dlrectors of the company are al80 charity trustees for the purposes of charlty law and under the company's
Artldes arn known as members of the Management Commlttee. Under the requirements of th8 Memorandum
and Artides of Associatlon, at each annual general meeting, one third of the Trustses who are subject to
retirement by rotatlon or th6 numbèr neare8t to one thlrd Shall retlre from office.
Where a tru8tse retAres by rotatlon he or 8he shall, If willlng to ac( be deemed to have been re-appolnted.
Trust•• Induotl•n and Trnlnlng
Any new trustO8s are only appolnted whare they are recommended by tho ex18tlng trustees or wh?r8 a nwnb8r
quallfied to vote at the m88tlng gives nollce to propose that per80n for appolntrnent.
The truste88 Involved In the charlty are from varlou8 profe8skJnal backgrounds and several have many years,
exp8rlence wlthln the fleld of agrlculbjre and are expected to attend at least one of the four meetlngs held
quarterly In addltton to the annual general meellng to dlscuss the buslne88 of the charlty.
Rlsk Manag•m•nt
The Management Commltt88 has conducted a revlew of the major rlsk8 to whlch the charlty Is exposed. A rf8k
register has been 88tabllshed 8nd Is updated at18a8t annually. Where approprfats, systems or procedures have
been estsbllshed to mrtigats the rfsks the charlty faces. Slgnlficant extemal risks to funding have led to th6
developments of a strateglc plan which wlll all¢yw for dlverslficatlon of fundlng and acthiitles. Internal control
risks are mlnlmlsed by the Implementatlon of procedures for authorlsatlon of all tran8acUons and projects.
Procedures are in place to ensure compllance with health and safety of volunteers, vlsltors and Ilvestock on show
day arKI to ensure a conststent quallty of delivery foT all opgrational aspects of the charfty. These procedures are
periodically reviewed to 8nsure that they contSnue to meet the needs of the ¢harity.
Plans for Futur• Porlod8
The charlty plans continuing the activlties ouUln6d bel¢xy in the forthcomlng years subJect to satlsfactory funding
arrangements.

Th• Val• of Olamorgan Agrfcuftural 8oGl•ty
R•port of th• Manag•m•nt C•mmltt••
Y•ar end•d 31 D•c•mlxr 2024
Objectlves and Actlvltles
The companls objects and prlncipal actSvibe8 are: .
a) The advancement of Industy in general and of the rural economy and agricultur8 In partlcular In the Vale of
Glamorgan through the promotlon of improvements In, breedlng. rearing and health of livestock, agricultural
produce, the safety and utility of agricultural equipmen( machinery and implements and the encour&J8ment
of skills development and husbandry in the agriculturnl Industry and in furtherance thereto to hold shows In
furtherance of an ancillary to the foregoing objects but not otherwise: and
b) To advance educatlon to the genaral publlc and in Par￿QjIar educaJon In agrfculture, anlmal husbandry and
allled Industries; and
c) To promote the conservatlon prolection and Improvement of the physlcal and natural envlronment.
The trustee8 have refèrred to the guidance contalned In the Charlty Commlsslon's general guldance on publ
benefit wthen revlewlng the aims and objectlves and In planning fvture aetlvlties and conslder that tlw have
complled wlth thelr duty under section 17{5) of the Charltles Act 2011. All the charitable actlvitl88 focus on the
prov181on of 88rvice8 whlth all members ol th6 public are abl8 to enter and att8nd.
Aohl•v•m•ntsl P•rformana•
One of the main area8 of charltable actlvlty Is to hold Shows for the exhibitlon of Ilvestock. poulty, lam and
hortlcultural woduce, machlnery. tools, appliances, cbthlng etc. Th8se actlvities were fully m8t durlng th8 August
2024 show as well as ensurtng that there were a number of complementary activltles for people attendlng to take
part in and enjoy. The management commlttee 1081 that although it wa8 a good. varfed and well organlsed show
and that everything on the day went well, the attendance was poor wfth a reduced number of vl8ltors owlng to the
very poor weather. However, as noted elsewhere In thls repor¢ they are very consclou8 of the 61gnlficantly
increa8ed costs across the board Involved In setting up 8rKI runnlng the show and are looklng at ways to mttlgats
the effect of these cost8 for the future.
The Soclety provlde8V8le Show Bursaries to young peopl8 who help out at the Show on a voluntary basls.
Appjlcants must b8 bettrveen the ages of 16 and 26 and the bursary 18 awarded to help further the 8ducatSon or
asslst young p8r8on In buslne88. Directors allocats the amount avallable on an 8nnual basls and the bursary
commlttee deckle who18 ellgible,
Flnanolal R•vl•w
The charlty had an overall net defidt of £47,639 durlng the financlal year (2023 - net deflcit 01 £78,058). The
Income excludlng Investment Income and the unreallsed galns on Investments Increased by £7,078 from th?
previous year (2023 - decrease of £24,091).
In common with agrlcultural shows and other 81mllar events around the UK the trend of signlficantly increaslng
runnlng costs alongsldo a cost of living crisls for a wide r8nge of people has resulted In major issues In looking to
mitlgate potential continuing annual deficits.
Accordlngty the management committee have Instigated a comprehensive revlew to Investlgate a range of ways to
addre88 these increasing costs both for the 2025 show and also Into the future wlth a view to ensuring amore
vlable and sustainable situation in years to come.
Inv•stm•nt Policy
The total market value of Investrnants under management at 31 December 2024 amounted to £190,833 (2023 -
£276,127) with an orlginal cost of £256,628.
Tha charity 18 pursuing a pollcy of capital growth. Investment performance is regularly r8view8d wth the portfolkj
managers and investsnent decislons are subject to the management committee's approval.

Th• Val• of GIAmorgan Aqrl¢ultural 800i•ty
R•port ol th• Manag•m•nt C•mmltt••
Y￿r •nd•d 31 D•¢•mb•r 2024
R•s•rv•s P•ll¢y
Th8 management commrttee has examined the charitys requlrements for reserves In light of the maln risks to the
charlty. It has establlshed a policy whereby the unrestricted funds not committed or Invested in tangible fixed
as88ts held by th8 charity should be beiw 3 and 6 months of the expendlture,
The present level of reserves avall8ble to the charlty Is £314.660 (2023 - £362,299) available free reseNe8 of
£308,733 (2023 - £381,499) The tru8ts85 believe these reseNes are reasonable as they are needed in part to
meat the worklng cApitsl requir8ments of the chatity. As already rK>ted a revlew of potential fulure costs Is
currently being und8rtaken, There Is also a need to retaln suffkknt reserv88 to fund the potsntlal pUr￿a80 of
pennanent show site,
Responslbllltl•s of th• Manag•m•nt Commltto•
The management commlttee (who are also the dlr8Ctors of the Vale of Glamorgan Aarlcultural Socl8ty for the
purposes of company law) are responslbl8 for preparing a InJst8e8' annual report and financlal statements In
accordance wlth appllcable law and Unlted Klngdom Accountlng Standards (United Klngdom Generally AcceKknd
Accounting Practice).
Company law requlres the chartty trustses to prepare finarthl stst8ments for each financlal yaar whleh glve 8 tr
and fair view of the State of the affairs of the charitable company as at th? balance 8he81 date and of Its Incomlng
resourts8 and appllcotlon of resources, includlng incomo and oxp8ndltur&, for the financlal year. In preparlng
those financlal statements, the tru8tee8 are required to:
8elect sultable accounting pollcie8 and then apply th8m consistentty.,
obseNe the methods and prlnclpl88 in the Charltles SORP;
rnake Judgements and estlmates that are reasonable and prudentr,
State whether appllcable UK accountlng departures dlsclos8d and explalnlng In the flnanclal statemenlB;
prepare flnanclal ststements on the going concem basls unless it Is Inapproprlato to pre8ume that the
charltable company wlll contlnue on that basls.
The management commlttee are responslble for keeping adequate accountlng records that are 8ufficient to sh
and explaln the company's transactlons and dlsclose with reasonabl8 accuracy at any tlme the flnanclal posltion of
the company and that gnabla them to ensure that the financial ststements cornply wlth the Companles Act 20tI8.
Thay are 8180 r68ponslbl8 for saf8guardlng the a8sets of the charltabla company and hence for tsking rea80nable
steps for the prevention and detection of fraud and other Irregularl￿88.
Tha management committee are responslble for the malntenance and integrity of the corporate and financial
Infomiatfon included on the charftabl8 companys website. Leglslation in the United Kingdom Governi￿ the
preparation and dl88emlnatlon of financial statements may differ Irom leglslation In otherjurisdictions.
8tat•m•nt as to dls¢losur• to our Ind•p•nd•nt •xamln•rs
In accordanca with company law, a8 the companls dlrectors, ￿ certlfy that..
so far as we are aware, there Is no relevant Informatbon of whlch the company's Independent examiner8 are
unaware,, and
as the dlrectors of the company we have tsken all the steps that ought to have taken In order to maka
ourselves aware of any relevant infomiation and to establlsh that th8 charitys independent examiners are
aware of that informatlon.
Approved by th8 trustses on 31 March 2025 and s￿ned on its behalf by:
H J Price
Tr•asur•r

Ind•p•nd•nt Examln•rs' R•p•rt to th• Manag•m•nt CommMt•• ol
The Val• ot Gl4m•rgan Agrlaulturnl 80010ty
I report on the accounts of tha company for the year ended 31 December 2024.
R•sp•th• r•sponslblllti•s ol th• m*naq•m•nt eommittm aftd •xamln•
The managem8nt committee (who are also directors of the company for the purposes of company law)
responsible for tha preparab'on of the accounts. The management committee consider that an audit is not
required for th13 year under Part 18 of th8 Companl8s kt 2006 and that an independent examinatlon is needed.
Havlng satlsfied myself that the charity is r￿t subject to audlt under company law and Is ellgible for independent
examination, it is my responsibility to.,
examine the ac£ounts under section 145 of the Charlti88 Act 2011 (Tho Act);
to follow tho procedures lald d¢Jwn In the general dlrections glven by the Charlty Commisslon und8r
section 145(5) (b) of The Act. and
to state whether partlcular matters have coma to our attention.
Basls of Ind•p•nd•nt •xamln•rs' r•port
My examlnatlon was carrfed out in accordance wlth the general dlrectlons glven by the Charlty Commlssk)n. An
examlnatlon Includ88 a revlew of the accounting records kept by th• ch8rlty and a compartson of th8 accounts
preg8nted with those records. It also Includes con8ider8tlon of any unusual Ibms or disc108ur8s In th8 accounts,
and seeking expf8natlons from you as trusteés concemlng any such matters. Th8 procedures undertaken do Mt
provlde all the evidence that would ba requSred In an audit and consequently no oplnlon Is given as to wh8th8r tho
accounts Fxesent a 'true and falr vlew and the report181Smiled to th08e matter6 set out In the statement balow.
Ind•p•nd•nt •xamln•rs' stat•m•nt
In connection with my examlnation, no materlal matter ha8 come to my att8ntlon'.
(1)
%thlch glves me rea80nable cau8e to bell•ve that In any materlal r88pect tho requlrement8,'
to keep accountlng record8 in accordance wllh Ge￿On 388 ol th8 Compan188 Act 2008; and
to prepare accounts which accord wlth the accounting rncords, comply wlth the acrx)untlng requlrem8nts
of sectlon 396 of the Companies Act 20[￿ and wlth the methods and prlnciples of the Charities Slatement
of Recommended Practice (FRS 102),.
have not been met; or
(2)
to whlch, In my oplnion, attention 8houkl be drawn In order to 8nabl8 a proper understandlng of the
accounts to bo reached.
for and on behalf of
Wllllams Ross Llmlt•d
Ch*rt•r•d AMountants
4 Ynys Brfdge Cthjrt
Gwaek¥J Y Garth
Cardiff
CF15 gss
Date

Th• Val• of Glamorgan Agrlmhural 8001•ty
8tat•m•nt of Fln•nclal Aotlvlti•s
{Includlng Incom• and ExpendI￿re Account)
Y•ar •nd•d 31 D•o•mb•r 2024
2024
2023
Incom•
Donalions
20,397
19,951
Income from investrnents
3,928
Income from ch8rftable act1￿￿8￿
Show Sncome
110,922
106,842
Other Income
818
Totsi Incom•
137 799
130 721
Exp•ndttur•
Exp•ndltur• on r•lslng lunds
Invesknent portlollo management charges
Exp•ndltur• on oharltabl• aotlvftl•s
Show costs
Bursarles
1.379
193,982
500
223,712
800
Totsl •xp•ndttur•
N•t d•fi¢ft for th• y•ar b•f•r•
oalns l (loss•sl on Inv•stsn•nts
(57,548)
(95,170)
Net gainsl (losses) on Investments
9,907
17,112
N•t d•fiott for th• y•ar
(47,839)
(78,058)
R•oonolllallon ol funds
Total funds brought foTrvard
382,299
440,357
Total funds oarrl•d forward
314 860
The statement of financral activltss Includes all galns and losses In the year.
All Income and expenditure derive from Continuing act￿ltieS.
All ac￿VItIeS relate to an unrestricted fund.

The Vale ol Glamorgan Agricultural Soclety
Balan¢e Sheet
31 December 2024
2024
2023
Fix•d ass•ts
Tanglble assets
Investments
12
13
5.927
190.833
196,760
800
276,127
276,927
Current Ass•ts
Debtors
Cash In bank and in hand
14
61.502
56,638
118,140
69,649
15,963
85,612
Creditors: amounts falling
due within one year
15
(240)
(240)
N•t ¢urr•nt ass•ts
117.900
85,372
Funds
Unrestrictad funds
16
314,680
362,299
Total funds
314 660
362 299
For the financlal year ended 31 Decembar 2024 the company was entitled to exemption from audit under
section 477 of the Companies Act 2006 relating to small companies,
Directors responsibllitles.,
The members have not required the company to obtaln an audit of Its flnancial statements for the
year in question In accordance wlth section 476;
The directors acknowledge their responslbilities for complying with the requirements of the Act with
respect to accountlng record8 and the preparation of financial statements.
These financial statements are prepared in accordance wfth the prov181ons applicable to companies subject to
the small companles regime within Part 15 of the Companies Act 2006 and constrtute the annual accounts
required by the Companies Act 2006 and are for circulation to members of the company.
Approved by the Board for issue on 31 March 2025:
A Thomas
Director
H J Prl¢e
Director
COMPANY REaisTrATION NUMBER: 04839768

Val• of Qlamorgan Agrloumural 8ocloty
Not•s torn￿n9 part of th• Flnanclal 8tat•m•nts
Y•ar •nded 31 D•o•mb•r 2024
l. Aooountlng Pol•GI•s
a) Establlshm•nt
The Vale of Glamorgan Agricultural Society is a charltable company, charity number 1108960. It was
incorporated on 21 Juty 21X)3 and registered as a charity on 11 April 2005. The registered office of the
harity is Llys Ffynnon, Penllyn, Cowbridge, Vale of Glamorgan, GF717RQ.
b) Basls of Pr•paratlon
The financlal statements have been prepared in accordance with Accountlng and Reporting ty Charitss:
Statement of Recommended Practbe applKable to charftles preparfng their accounts in accordance wlth the
Flnancial Reporting Standard appllcabfe in the UK and Republic of Ireland (FRS 102) (effective 1 January
2015) - Chartties SORP (FRS 102)), the Financlal Reporting Standard applicable In the UK and Republic of
Ireland IFRS 102) and the Companies Act 2008.
Th8 Vale of Glamorgan Agrlcultural Society m8ets the deflnltion of a publlc benefrt entlty under FRS 102.
Assets and IlabS1itie8 are initialty recognised at hlstorlcal cost or transaction value apart from Investments
which are stated at market valua.
The flnanclal statements we prepared in Sterling, whlch18 the functional currency of the charltabl8 company.
Monetary amounts In these flnancial statements are rounded to the nearest £.
•) R•oonolllatlon wlth pr•vlous G•n•rally Ao¢•pt•d A0￿u￿tIng Praollo•
In preparlng the accounts, the trustees have ￿nSIdered whether In applylng the accountlng ￿lIcleS requlred
by FRS102 and chari￿s SORP FRS102 the reststement of comparatSv8 items was rwulred. No
restatements were requlr8d.
d) Fund aooounllna
Unrestricted fund8 ere available for us8 at the dl8cretion of the tru8tee8 In furtherance of the general
oblectlves of tha charltv.
•) Don•t•d s•rvlo•s
In accordanc8 wlth the Charftles SORP (FRS 102), the general volunteer ttme provlded to the charlty18 not
reCogni￿d and refvr to the tru8tees' report for more InlomatSon about thelr contributlon.
fj Ino•m•
All Incomlng resources are Included In Ihe statement of ftnanclal actlvltles when the charlty is enthled to the
income and th8 amount can be appll8d with rea80nable accuracy.
Donations
Donatlon8 are Included ¥￿en recdvable.
Income from investments
All investment income Is Included In the Statement of Flnanclal
Actlvltles whan recelvable.
g) Exp•ndftur• Ind Irr•¢ov•Mbl• VAT
Expenditure is induded in the accounts ¢)n an ￿ualS basis. Expenditure Includes any VAT whlch cannot
be recovared.
Expenditure on raisirvJ funds I￿￿Ude8 all eX[￿Se9 Incurred with managlng the Investment portfolb.
Expenditure on charltable athities comprises those costs Incurred by the charty in the delivery of its
activities and Servi￿ for its benefidarles. It Indudes both costs that can be allocated directty to
such activities and those costs of an irKlirect nature necessary to support them.

Th• Val• of Glamorgan Aorf¢ulturnl 80¢i•ty
N•t•s formlng part Of th• Flnanalal 8tat•m•nts
Y•ar •nded 31 Dec•ml)•r 2024
l. A¢oountlng Polhl•s
h) Tanglbl• tlx•d ass•ts
Deprecialiorb on tangible fixed assets is calculatad so as to write off tl)e cost of an asset, less its estimated
residual value, over the useful economiG lrfe of that asset as follows:
Office Equlpment
7 years
Computer Equipment 3 years
Individual fixed assets cosllng £5110 or more are capltallsed at cost
l) Flx•d a8S•t Inv•stm•nts
1nvestsr￿nts are a form of basic financlal Instrument and are Inltlally recognised at thelr tranS￿tiOn value
and subsequently measured at thelr fair value as at the balanc* sheat date using the closiNJ quoted market
prlce. The statement of financial actlvltl88 Includ88 the net gains and losses arfsing on r8valualon and
dlsposals throughout Ihe year. Investment galns and losses, whether reallsed or unreallsed, are comblned
and shown in the heading 'Galnsl (Ios888) on inv8Stments' In the Statement of Flnancial Activltle8.
The maln fonn of financial r18k laced by the charfty Is that of volatlllty In equlty markets and 1Th￿trnant
markets due lo wlder ecorK)mlc condltlons. Ihe attitude of Investors to Investrnent rlsk, and changes In
sentiment concemlng equltles and within partlcular 8eCtor8 or Su1￿80Ctors.
l) Allo¢atlon ol support Qosts
Supp(xt cost8 are those functlons that a8slst the work of the charlty but do not dlrectty undertake charltable
actlvltoos. Support costs Include back office costs, flnance, personnel and gov8mance costs ¥thich support
th8 8CtlvStle8 of tha charfty.
Cash and oash •qulval•nts
Cash 58 represented by cash in hand and depo8lt8 wlth financial In8titutlon8 repayable wlthout penalty on
notice of not more than Iwenty four hours. Cash equlvalents are hlghly Ilquid Investhi8nt8 that mature In no
more than three months from th8 date of acqu181tlon and thal ar8 readlty convertlbl8 to known amounts of
cash with Inslgnificant r18k of change and value.
11 Debtors
Trade arKI other debtors are recognised at th8 settlement amount due after any trade discount off8r8d.
Prepayments are valued at the amounl prepald net of any tr8de dlscounts due.
m) Cr•dltors
Creditor8 and provisions are recognSs8d where the charlty has a present obllgatlon resultlng from a past
avant that wlll probably resuh In the transfer of funds to a third party and the amount due to settlo the
obllgatlon Can be measured or estlmated rellably. Creditors and provhtons are nornially recognised at thelr
settlement amount after all(Mlng for any trade dlscounts due.
n) Us• of a¢￿untIng •stlmat•s and ar•as ol Judq•m•nt
The preparatlon of financial statements requlras the use of certain accountlng estlmatss. It also requlres
the Directh to exercise judgement In applying the C￿lt union's accounting rxjllcles. The areas requiring a
higher degree of judgemen( or complexty. and areas where assumptlons or estlmates ar8 most significant
to the financial statements are disclosed below:
o) Valuation of Inv•stm•nts
The trustees exercise Judgement in the valuatlon of thè quoted invesbrent8 and securftles held by the
charlty. Th8 valuation applled are derived from tr￿ inveslment fund manager reports which indlcate the
market value of the investsnents and securities at a given date.

Th• Vale of Glamorgan Agrl¢ultural 8ocl•ty
Not•s fomilng part ot th• Flnancial Statsm•nts
Year end•d 31 D•a•mb•r 2024
2024
2023
Donations and grants
Subscriptions and don8tion$
RWAS grant
20.397
19,951
2024
Ineome from Inv•stm•nts
Dividend income
5,664
3,928
2024
2023
8h•w Inoom¢
Show entry feas
Show space - stand fee8
Catalogues - sponsorshlp
Gate receipts
Events and fund ralslng
8,350
33,941
8,325
50,065
10,241
110922
9,857
30,492
11,664
47,599
7,230
106 842
Analy$ls ol •xp•ndltur• on oharftsbl• *atlvltl•s
Show oosts
New show site set-up costs
Showground rent
Preparatlon c08ts and equlpment hlr8
Traffic managament
Pdzes
Catering and entertalnlng
Judges, SBes and expenses
sec￿on official expenses
Stewards
Prlntlng and statlonery
Advertising
Insurance
Donatlons
Equlpment depreclatlon
support costs
(see note 6)
Governance costs
(see note 7)
2024
2023
1,112
14,100
102,002
20,951
12,492
8,759
1,417
1,540
1,231
4,726
480
1,490
250
882
23,094
1,458
193 982
20,931
12.675
103,190
29,237
12,242
7,974
529
3,088
4,347
2,119
1,455
700
617
21,412
1,332
223 712
Anatysls ol support egsts
2024
2023
Adminlstratlon services
Postage, tel8phone and sundries
Indemnlty insurance directors and offK8rs
Bank charges
21,607
818
504
165
23 094
19,191
1,172
513
10

Th• V41• of Ql•moryan Aorloulturnl 8ool•ty
Notes formlng part of th• flnanoial stat•m•nts
Y•ar •nd•d 31 D•a•mb•T 2024
7. An•lysls of gov•rnance ¢osts
Afflllatton fees 8nd licences
Professional and consuftancy fe88
1,192
264
1,092
240
8. N•t Inoom• lor th• y•ar
2024
2023
This is stated after charging:
D8prgd8tlon
Independent examlner'8 remuneratlon
817
9. staff oosts and numb•
There were no staff costs during the year (2023 - oil). Secretarial servlcAs were p￿ded on a self-employed
basis.
10. Trust•• r•mun•rntlon and r•lat•d party transaotlons
No members of the managemenl committe8 received any remuneratbn durlng the period (2023 - Nil). No
travel costs were relmbur8ed to any M￿lber8 of management commltt88 as nong were Incurred (2023 -
Nll).
No trustee or other person related to the charlty had any personal Interest In any transactlon entered Into by
tha charlty durlng the perlod (2023 - Nil).
11. Taxatlon
The charlty Is exempt from tax on Income and gains falllng wlthin 8ecth)n 505 of the Taxes Act 1988 or
section 252 of the Taxatlon of Chargeable Galns Act 1992 to the extent that th880 are applled to its
charitable objects.
12. Tanglbl• Ilx•d as8•ts
Flxtur•s,
Plant &
Flttlnos &
Machln•ry Equipment
C•stNaluadon
At 1 January 2024
Additions
Diswsals
At 31 December 2024
16,979
5,649
1,138
360
18,117
6,009
Aooumulat•d d•pr•olatJon
At 1 January 2024
Charge ft)r th8 year
Depreciation on disposals
At 31 December 2024
16,179
1,138
35
17,317
Net b(￿k value
At 31 December 2024
At 31 December 2023
800
800
11

Th• Val• of Qlamorgan Agrleultural 80¢1•ty
N•t•s lormlng part ol th• flnanolal st•t•m•nts
Y•ar •nd•d 31 D•c•mb•r 2024
13. Flx•d Inv•$￿•1￿
2024
2023
Mov•m•nt in fix•d assets Ilst•d investm•nts
Carrylng value ￿ 1 January (market valw)
Jditions to investments at cost
Disposals at carrying v81ue
Net gainl (108s) on investments
Carrylng value at 31 December (market value)
276.127
4,799
(100.000)
9,907
346,466
2.548
(90.000)
17,112
276 127
All Investments are caThi8d at th8Sr falr value. Investments In equitles and fixed interest 8ecurlti8s are all
tr&Aed in quoted public markets, primarfly the London Stock Exchange.
Llquldity risk Is antldpaled to be low as all assets are traded on the open mark8L The charlty's investments
are malnly traded In markets wlth good Ilquidty and hlgh tradlng volumes. The charlty has no matèrlal
investment holdings in markets subject to exchange controls or trading r8strictlon8.
The main ri8k for the financial instruments held by the charity is the volatility of invesknents. The charlty
manages this rfsk by retslning expert advlsors and operating an investment pollcy that provides for a high
degree of dlversfficatlon of holding8 wSthln Investment asset classes that are quoted on rewjnlsed stock
exchanges. The charty does not make us6 of derNativ88 and slmllar complex financlal Instruments as It
takes the view that investments are held for their longer tem) yleld total return 8nd hlstorlc studles of quo
flnanclal In8truments have Shown that volatS1ity In any particular 5 year per5od wlll nomially b6 corrected.
14. Debtors
2024
2023
Prepayments and accrued Income
61,502
69,649
15. Cr•dltorn: Amounts lalllng du• wlthln on• y•ar
2024
2023
Accruals and deferred Income
240
240
240
240
16. Mov•m•nts In lunds
At1
January
2024
At31
D•¢•mb•r
2024
Galns &
In¢om• Exp•ndftur• Los￿9
Unr•strlat•d funds:
General fvnds
382.299
137,799
1195.345)
9,907
314,660
Total unrestn'cted funds
362,299
137,799
(195,345)
9,907
314,660
12