COMPANY REGISTRATION NUMBER.. 05957581 CHARITY REGISTRATION NUMBER: 4120037 Tynedale Agricultural Society Ltd Company Limited by Guarantee Unaudited Financial Statements 31 August 2024 MCCOWIE & CO Chartered accountants 2 Gosforth Park Avenue Newcastle Upon Tyne NE12 8EG
Tynedale Agricultural Society Ltd Company Limited by Guarantee Financial Ststements Year ended 31 August 2024 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position 10 Notes to the financial statements 12
Tynedale Agricultural Society Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 August 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2024. Reference and administrative details Registered charity name Tynedale Agricultural Society Ltd Charity reglstratlon number 1120037 Company reglstratlon number 05957581 Prlncipal office and registered Hexham Auction Mart offlce Tyne Green Hexham Northumberland NE46 3SG The trustees Mr D. Carr Mr C Chomse Mr T A Harrison Mr G l Holmes Mr R J Raine Mr J A Rowland Mr M Scandle Mr J Wardle Mr J Woodman Miss J Chomse Ms T Cousin Mr R A Young Mr J Wallon {Retired 18 October 2023) {Appolnted 18 October 2023) Company sécretary Kerry Ann Robson Independent examlner Peter Mccowie FCCA 2 Gosforth Park Avenue Newcastle Upon Tyne NE12 8EG
Tynedale Agricultural Society Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 August 2024 Structure, governance and management Goveming Document The organisation is a charitable company limited by guarantee, incorporated on 5 October 2006.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. Recruitment and Appointment of Management Committee 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 Management Committee.The Management Committee have to be paid up members of the Society.The initial Management Committee was appointed by the subscribers to the Memorandum and Articles ofAssociation. At the first Annual General Meeting all members of the Management Committee stood down. At every subsequent Annual General Meeting, one- third of the members of the Management Committee shall retire from office A retiring Management Committee member shall be eligible for reelection. Organlsational struclure The Trustees deal with financial matters and the operation ofthe charitable society, and are responsible for the planning and future development of the Society. There is also the Show Committee whiGh is responsible for all matters relating to the annual Show. A number of sub-committees are responsible for different sections of the Show, such as, cattle, sheep, dog show. trade stands etc.The sub-committees report to the Show Committee. Risk Management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place lo provide reasonable assurance against fraud and error. The Gommittee meets regularly to monitor the risks which the charity faces and establish systems and strategies to minimise these. The principal risks are those of the loss of the show due to either weather problems or an outbreak of a contagious animal disease, such as Foot and Mouth, which might affect the Show attendances and therefore finances. The committee are attempting to minimise these risks by increasing free reseNes. Olher risks relate to the health and safety of those participating in, or attending the Show. The charity has detailed plans for emergencies, traffic management and health and safely risk assessments for all parts of the event. The trustees have conducted a review of the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity, and are satisfied that adequate systems have been established to mitigate those risks. Reserves The trustees have established a policy whereby the funds not committed or invested in tangible assets (the free reserves) held by the charity should be enough to cover the expenses incurred if it was unable to hold two successive annual shows and also to allow it to make any investment necessary to secure its future. The trustees feel that the current level offree reserves £966,893 (2023 £919,290). The society maintains a prudent level of reserves to generate income to help fund the activities that further the society's charitable aims and objeclives. This income is intended lo counter the large fluctuations in irregular income such as donations, and to help fund the annual show.
Tynedale Agricultural Society Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 August 2024 The company recorded a deficit of £31,582 on charitable activities. There were net gains on investment assets of £79,185. Therefore there was an overall surplus of £47,603. for Ihe year. Investment Policy The charity does not have a specific investment policy. The management committee have delegaled powers to the secretary to move monies between the charity's investment portfolio, deposit bonds, and bank accounts as required in order to obtain the best rate of return. Details of all portfolios are available and discussed at all management meetings. The investment in listed securities realised a profit of £10,663 and there was a revaluation gain of £55,104. TrLÈStee I nduction and Training The trustees are familiar with the practical work of the charity and keep up to date with developments. New trustees are encouraged to familiarise themselves with the charity, and in particular with their obligations as a Management Committee. and the main documents which set out the operalional framework, includ ing the Memorandum and Articles of Association. New Trustees normally, but not exclusively, have knowledge of the Charity's function and of the annual Show. Copies of the last two years, accounts and Memorandum and Arlicles are given to new Trustee5. A full briefing about responsibilities, operations and management is given to new Trustees by the Secretary and Chairman. Related parties The Charity is a full member of the Association of Show & Agricultural Organisations which provides access to all new and relevant legislation through meetings. conferences, training days and newslellers. It also provides access to other Charities involved in the running of similar events Support is also given to various charities and local groups in the form of discounted trade slands, to enable prornolion of their charity. Family tickets are selectively given to local charitable groups and associations to support their activities. Public benefit statement The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit,.
Tynedale Agricultural Society Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 August 2024 Objectives and activities The company's objects and principal activities are the advancement of agriculture for the public benefit, in the county of Northumberland, and of the educalion of the public concerning agriculture and in particular by holding an annual show known as the Northumberland County Show held annually on the late spring bank holiday Monday. The Charity Commission's general guidance on public benefit has been given due regard when reviewing our aims and activities to further our charitable purposes for public benefit. strategy The use of established structures, practs'ces and systems developed in previous years. Volunteers The charity is greatly indebted to the volunteers who give their time freely to assist throughout the year and with the annual show. Powers of the company In furtherance of its objects the Company has taken over the assets ,activitie5,and liabilities of the unincorporated charity known as ' Tynedale Agricultural Society Main Areas of Charilable Activity The annual show acts as a link beeen rural communities, farmers. 8nd the public. It attracts many visitors who learn about rural life and farming systems. The Society sees its main achievement as the continued success of the annual show, with strong emphasis on agriculture, conseNation, education and the local community.
Tynedale Agricultural Society Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 August 2024 Achievements and performance Annual Report 2024 - Tynedale Agricultural Society Norlhumberland County Show, run by Tynedale Agricultural Society Ltd, now in its tenth year at Bywell Hall, Stocksfield was held on Saturday 25th May 2024. Poar weather throughout the three months before show day had the team worried however, during May the weather dried up and plans went full steam ahead. All was good until Wednesday before the show when rain started in earnest. Set up became very difficult and even with restrictions on vehicles on site, the ground soon became boggy and saturated. With the he5p of many hard working volunteers the shuwground came together in time for show day. Advance ticket sales were up on last year, helped by good weather before show week. Show day arrived with glorious sunshine, this impacted on the gate with approx. 20,000 visitors, well down on last year. Car parks opened early and the traffic management system again worked smoothly on access. Army cadets, Dog & Cat sheller volunteers & The Lion'5 Club supported the show's enthusiastic and hardworking volunteer work force of over 200 stewards and helpers on show day. Our main attraction this year sadly cancelled on the Tuesday of show week resulting in a swift change to Jez Avery and his stunt show which was very popu12r. The main arena held the classes of magnificent heavy horses and the Parade of Tractors through the ages. JS Hubbuck Ltd Cattle section saw 82 classes with 263 entries, the winner of the coveted Champion of Champions Trophy was a magnificent Hereford Bull called "Moralee 1 Rebel Kicks owned by Thomas and Diane Harrison of Mickley, who were delighted with the result. The judge David Tennant of Royal Highland Show, was very impressed with the quality of Livestock. The Reserve was awarded to a Large Black pig called Matilda. Owner, David Wilde of Medburn, near Ponteland. In the YoungsRPS Sheep section, there were 56 classes and 270 entries. The Overall Interbreed Champion Sheep was won by a Charolais gimmer owned by Johnny Aiken. Light Horse section ran 106 classes with 503 entries. The final competition was the Supreme Light Horse Championship judged by Mrs Jo Jefferson, Mr Matt Baker and Mr Peter Macklam. The winner was Roseberry Jubilation, owned by Susan Burgess and ridden by Grace Sidebotham. They had championed in Class E39 BSPS Performance Pony classes earlier in the day. The reserve was won by Jane Lindsay's loveley Mini Working Hunter Pony, Owston Hob Nob. ridden by young Posy Lindsay. Hob Nob had previously won the Class E97 BSPS Tiny Tots Stakes. It was a brilliant day in the Northumberland College Alpaca section on Saturday. Judges Barbara Hetherington and Kim Murray had a tough job with such a fantsstic array of animals. The Champions of the Alpaca section were.. Huacaya Supreme Champion.. Chestnut Farm Mr Whiteley owned by Chestnut Farm Alpacas,. Huacaya Reserve Supreme Champion.. Fangdale Arlo owned by Fangdale Alpacas. Suri Supreme Champion.. North West Suri Gariboldi owned by North West Suri. Best Northumbrian.. Barnacre Lola owned by Barnacre Alpacas, Visitors often ask if the alpacas are llamas, so to avoid confusion, the organisers exhibited a llama this year so there was a side by side comparison, There were information boards to help visitors learn about the differences between the species and stewards available to answer questions. The Alpaca section is trialling improvemenls to aid accessibility, including Braille signage for visually impaired visitors, and a BSL Interpreter for commentating to those with auditory impairments which have been well received by visitors. In its fourth year the Farrier competition was a huge success proving very popular with the public.
Tynedale Agricultural Society Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) fcontlnued) Year ended 31 August 2024 The Gomp8titors in the Cumberland Wrestling Competitions were grateful for the soft ground. The Northumberland County Show hosted the prestigious under18 World championships- 1st Myles Staunton, 2nd Robbie Pigg, 3rd George Younger. The dedicated Children's area evolved furtherthis year, with The Biking Vikings, Bike 360, Musicwagon with Rock Choir and Studio K dancers, Bubbleologist, face painting, and The Dawn of Chivalry Knights with their encampment. Creative North Marquee housed our Childrerr's Art Competition and had some amazing displays from many local school children. Judged by local artist Alex Clark, this year the theme was the great outdoors. The Border Stick Dressing Association competition was in this marquee, the Norman Tulip Perpetual Cup for Best Stick in Show went to Mr D Gardner. Competitive Home Craft, ran smoothly after a slow start to entries. Cookery Most Points Moffit Silver Rose Bowl was awarded to Marion Sloan. Award for Best Single Item in Cookery Classes Ladies Committee Silver Salver was Julie Englund. Shotley Bridge Wl won the Tynedale Agricultural Scoiety Wf Challenge Shield. The Fletchers Rabbit and Cavy Marquee had lower than normal numbers this year but was still very popular with visitors, who have the opportunity to see less common varieties of these smaller types of livestock. The Poultry Show was a welcome return this year with good numbers of entries. Best in Show was awarded to Tom Barron for his female Pekin who also won best true. The Kennel Club Dog Show had over 800 entries with the best dog in show won by a Saluki, named Caryna Hyperion. Reserve was a Newfoundland, named Shiresbears Enchanter for Edbear. The Fun Dog Show was ran and organised by the Dog & Cat Shelter at Newcastle and a great success and attraction for visitors, They raised over £1,000 for their charity. Membership continues to increase steadily, members again enjoyed the private marquee and ringside garden. The Members, bar and food was a great success from Ramside Catering, Trade stands sold well before show day however due to the weather change and difficulty on the ground many were turned away on the Friday. Refunds and positions carried to next year were to be organised following the show. Still some hardy traders managed to set up and had a succesful day, Visitors seemed not to notice any free spaces and still had a good range of diverse stands. New for 2024 was our Charity Stand which Holly's Hope came in 1st with a free stand position for 2025. Music by Tyne Valley Big Band, Whittonstall Community Band and Prudhoe Community Band entertained the crowds all day and with a packed programme of entertainment, and our 'Counly Fest, area was very popularwith local singers, The Rock Choir and dancers from Studio K and Elaine Pygall, performing to the crowds. Northumbrian Pipers at the entrance and Highland Pipers throughout the show carried on playing during the day and creating a great atmosphere. Our Shopplng Marquee ha5 gone from strength to strength but sadly this year had to be reduced due to a duck pond in one end from a flooded area of the show ground. Traders were told to delay coming this year for restricted space. Burseries were awarded to Wlliam Soulsby studying Agriculture at Askam Bryan College. An Apprenticeship position was given to Ellie Robson this year from Kirkley Hall College. Ellie has shadowed Kerry to learn more on the show and helping with day to day tasks.
Tynedale Agricultural Society Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 August 2024 Matt Baker - Travels with Mum & Dad. The show had the pleasure of being filmed for a whole show episode of the programme. Kerry & family were interviewed by Matt and taken round the show as well as sections getting a visit during the show day. Tommy & Di Harrison and Derek Ions appeared in the episode and the promotion for the show will be fantastic. The Show provides a huge boost for the local economy, it brings together communities from urban and rural areas in one place and it is a showcase for so many businesse. The Norlhumberland County Show creates connections beeen food, farming and countryside life. Mark Sandle, Chaiman, concluded, We have to keep it going because once a show goes, they don't come back. Education is key, and it's so important to get people out and have a great family day out and hopefully keep them coming back." Flnanclal review Principal funding sources and expenditure The main sources of income are from sponsorship, subscriptions, trade stand fees, and show day receipts. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 4 November 2024 and signed on behalf of the board of trustees by.. Mr M Scandle Trustee
Tynedale Agricultural Society Ltd Company Limited by Guarantee Independent Examiner's Report to the Trustees of Tynedale Agricultural Society Ltd Year ended 31 August 2024 report to the trustees on my examination of the financial statements of Tynedale Agricultural Society Ltd {'the charity'} for the year ended 31 August 2024. Responsibilities and basis of report As the trustees of the company (and also its directors ft)r the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying oul 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 Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connectlon with the examination giving me cause to believe: accounting records were not kept in respect of the charity as required by section 388 of the 2006 Act., or the financial statements do not accord with those records: or the financial statemenls do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounls give a 'true and fair, view which is not a matter considered as part of an independent examination,, or the financial statements have not been prepared in accordance wilh 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 account5 to be reach ccowie FCCA pendent Examiner Gosforth Park Avenue ewcastle Upon Tyne NE12 BEG
Tynedale Agricultural Society Ltd Company Limited by Guarantee statement of Financial Activities (including income and expenditure account) Year ended 31 August 2024 2024 Unrestricted funds Total funds Total funds 2023 Note Income and endowments Donations and legacies Charitable activities Investment income 41.782 275,942 13,868 331,592 41,782 275,942 13,868 331,592 40,806 280,193 12,723 Total Income 333,722 Expenditure Expenditure on raising funds.. Costs of raising donations and legacies Investment management costs Expenditure on charitable activities Total expenditure 60 5,899 357,215 60 5,899 357,215 60 5,953 363,544 10.11 363,174 363,174 369,557 Net gainsl(lossesl on investments 13 79,185 79,185 (6,447) Nel incomel(expendlture) and net movement in funds 47.603 47,603 (42,282) Reconciliation of funds Total funds brought forward Total funds carried forward 919,290 966,893 919,290 966,893 961,572 919,290 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 12 to 21 form part of these ftnan¢lal statements.
Tynedale Agricultural Society Ltd Company Limited by Guarantee Statement of Financial Position 31 August 2024 2024 2023 Note Flxed assets Tangible fixed assets Investments 18 19 45,713 829,533 48,900 815,737 875,246 864,637 Current assets Stocks Debtors Cash at bank and in hand 20 21 700 12,888 82,728 700 18,566 53,446 72,712 96,316 Credltors: amounts falling due wlthin one year Net current assets 22 4,669 18,059 91,647 54,653 Total assels less current liabilitles 966,893 966,893 919,290 Net assets 919,290 Funds of the charity Unrestricted funds.. Revaluation reserve other unrestricted income funds 248,161 718,732 194,075 725,215 Total unrestricted funds 966,893 919,290 Total charity funds 24 966,893 919,290 For the year ending 31 August 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements ofthe Actwith respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordan with the provisions applicable to companies subject to the small companies, regime. The statement of financial position continues on the following page. The notes on pages 12 to 21 fomi part of these financial statements. 10
Tynedale Agricultural Society Ltd Company Limited by Guarantee Statement of Financial Position (contlnu9dJ 31 August 2024 These financial statements were approved by the board of trustees and authorised for issue on 4 November 2 4, and are 51 ned on behalf of the board by: Mr M Scandle Trustee The notes on pages 12 to 21 fom) part of these financlal statements.
Tynedale Agricultural Society Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2024 General Information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Hexham Auction Mart, Tyne Green, Hexham. Northumberland. NE46 3SG. statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP (FRS 102)> and the Companies Act 2006. Accounting pollcles Basis of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properlies measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concèrn There are no malerial uncertainties about the charity's ability to continue. Disclosure exemptlons No cash flow statement has been presented for the company. Judgements and key sources of estimation uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. 12
Tynedale Agricultural Society Ltd Company Limited by Guarantee Notes to the Financial Ststements (contlnuedj Year ended 31 August 2024 Accounting pollcles (contlnuedj Incoming resources All incoming resources a included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and enlitlement is established. income from donated goods is measured at the fair value of Ihe goods unless this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and seNices are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of seNices is recognised with the delivery of the conlracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure Is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement offinancial activities to which It relates.. expenditure on raising fvnds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds forthe charity nor part of its expenditure on charltable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded atcost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated deprecialion and subsequent accumulated impairment losses. 13
Tynedale Agricultural Society Ltd Company Limited by Guarantee Notes to the Financial Statements (¢onlinuedJ Year ended 31 August 2024 Accounting policies fcontlnuad) Tanglble assets (contlnuedj An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activilies. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows., Improvements to rented property Fixtures and fittings Computers Trophies 10% straight line 1 OO/D Straight line 10°/o Straight line No depreciation Investments All investments are measured at fair value with changes in fair value being recognised in profit or loss. Investment in equities and fixed interest securities are all traded in quoted public markets. primarily the London Stock Exchange. The basis of fair value for quoted investments is equivalent to the market value, using Ihe bid price. The holding in the Prudential Flexible Investment Plan is equivalent to the face value. Impairment of flxed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exisl. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal al each reporting date. For the purposes of impairrnent testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. stocks Stocks are measured at the lower of cost and net realisable value, Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. 14
Tynedale Agricultural Society Ltd Company Limited by Guarantee Notes to the Financial Statements fcontlnuedj Year ended 31 August 2024 Accounting policies (¢ontlnued) Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cosl or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment Ioss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. Deflned contrlbution plans Contributions lo defined contribution plans are recognised as an expense In the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduclion in future payments or a cash refund. When contributions are not expected lo be settled wholly withln 12 months of the end of the reporting date in which the employees render the relaled seNice, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Limited by guarantee The Tynedale Agricultural Society is a company limited by guarantee and accordingly does not have 8 share capital, Every member of the charitable company undertakes to contribute such amount a5 may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member. Donations and legacles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations 150 150 Sponsorship Sponsorship 32,950 32,950 34,590 34,590 Subscriptions Memberships 8,682 8,682 6,216 6,216 41,782 41,782 40,806 40,806 15
Tynedale Agricultural Society Ltd Company Limited by Guarantee Notes to the Financial Statements fcontlnued} Year ended 31 August 2024 Charitable activlties Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Sale of goodslservices as part of direct charitable activities Advertising Trade stand fees Sale of catalogues Eleclric Hire of equipment Entries Gate takings Catering Northumberland Food Marquee 784 1,505 47,151 2.525 7,220 784 1,505 47,151 2,525 7,220 465 1,240 49,888 4,743 4.870 70 16,559 169,306 28,632 4,420 465 1,240 49,888 4,743 4,870 70 16,559 169,306 28,632 4,420 280,193 12,845 166,855 31,472 5,585 12,845 166,855 31,472 5,58S 275,942 275,942 280,193 Investmgnt Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Income from listed investments 13,868 13,868 12,723 12,723 Costs of raislng donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Costs of raising donations and legacies - Sponsorship 60 60 60 60 Investment management costs Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Porlfolio management 5.899 5,899 5,953 5,953 10. Expendlture on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Show day Support costs 292.445 64.770 292,445 64,770 357,215 299,103 64,441 299,103 64,441 357,215 363,544 363,544 16
Tynedale Agricultural Society Ltd Company Limited by Guarantee Notes to the Ftnancial Statements (contlnued) Year ended 31 August 2024 11. Expenditure on charitable activlties by activity type Activities undertaken directly Support Total funds costs 2024 Total fund 2023 Show day Governance costs 292,445 60,540 4,230 352,985 4,230 357,215 359,220 4,324 295,557 64,770 363,544 12. Analysls of support costs Analysis of support costs activity 1 Total 2024 Total 2023 Staff costs Premises Communications and IT General office Governance costs Repairs and maintenance Professional fee's 42,036 5,450 5,390 2,132 4,230 2,420 3.112 42,036 5,450 5,390 2,132 4,230 2,420 3,112 64,770 39,618 5,437 6,397 4,669 4,324 1,096 2,900 64,441 64,770 13. Net gainsl{losses) on Investments Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Gainslllosses) on listed investments Gainslllosses) on other investment assets 65,767 65,767 (4,098) (4,098) 13,418 13,418 (2,349) (6,447) (2,349) (6,447) 79,185 79,185 14. Net incomel(expenditure) Net incomel(expenditure) is Stated after chargingl(crediting)'. 2024 2023 Depreciation of tangible fixed assets 3,187 9,496 17
Tynedale Agricultural Society Ltd Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 August 2024 15. Independent examination fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statements Other financial services 500 3,530 500 3,759 4,030 4,259 16. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Employer contributions to pension plans 41,319 717 38,691 927 42,036 39,618 Charitable Staff The average head count of employees during the year was 2 (2023.. 1 J. The average number of full-time equivalent employees during the year is analysed as follows: 2024 No. 2023 No. Administrative No employee received employee benefits of more than £60,000 during the year12023: Nil). 17. Trustee remunaration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees; no trustee expenses have been incurred., 18
Tynedale Agricultural Society Ltd Company Limited by Guarantee Notes to the Financial Statements (contlnueoy Year ended 31 August 2024 18. Tangible fixed assets Land and Fixtures and buildings fittings Equipment Computers Total Cost At 1 September 2023 and 31 August 2024 Depreciatlon At 1 September 2023 Charge for the year At 31 August 2024 Carrying amount At 34 August 2024 At 31 August 2023 107,995 62.272 40,139 18,326 228,732 105,144 1,628 106,772 58,457 1,261 16,231 298 179,832 3,187 q83,019 59,718 16,529 1.223 2,554 40,139 1,797 4S,713 48,900 2.851 3,815 40,139 2,095 19. Investmgnts Listed other investments investments Total Cost or valuation At 1 September 2023 Additions Disposals Other movements 589,635 66,931 (132,322) 65,768 590,012 226,102 815,737 66,931 (132,322) 79,187 829,533 13,419 At 31 August 2024 Impalrment At 1 September 2023 and 31 August 2024 Carrying amount At 31 August 2024 At 31 August 2023 239,521 590,012 239,521 829,533 815,737 589,635 226,102 All investments shown above are held at Valuation. Financlal assets held at falr value All inveslments are carried at their fair value. Investment in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. The investment in the Prudential Flexible Investment Plan is measured at face value. 20. Stocks Consumables for the office and shed. 19
Tynedale Agricultural Society Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 August 2024 21. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 12,000 417 471 12,575 417 5,574 18,566 12,888 22. Creditors. amounts falling due wlthln one year 2024 2023 Trade creditors Accruals and deferred income Social security and other taxes other creditors 94 4,002 435 138 260 3,811 99 13,889 4,669 18,059 23. Pensions and other post retirement beneflts Defined contributlon plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £717 {2023.' £927). 24. Analysis of charitable funds Unrestrlcted funds At 1 Sep 2023 Gains and At losses 31 Aug 2024 Income Expenditure Transfers General funds Revaluation reserve 725,215 331,592 (363.174) {54,086) 79,185 718,732 194,075 919,290 54,086 248,161 966,893 331,592 {363,174) 79,185 At 1 Sep 2022 Gains and At losses 31 Aug 2023 Income Expenditure Transfers General funds Revaluation reserve 750.249 333,722 (369,557) 17,248 (6,447) 725,215 211,323 961,572 (17,248) 194,075 919,290 333,722 (369,557) (6,447) 20
Tynedale Agricultural Society Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 August 2024 25. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Investments Current assets Creditors less than l year Net assets 45,713 829,533 96,316 (4,669) 966,893 45,743 829,533 96,316 {4,669) 966,893 Unrestricted Total Funds Funds 2023 Tangible fixed assets Investments Current assets Creditors less than 1 year Net assets 48,900 815,737 72,712 (18,059) 919,290 48,900 815,737 72,712 (18,059) 919,290 26. Related parties There were no related paty transactions In the year. 21