COMPANY REGISTRATION NUMBER: 06194411 CHARITY REGISTRATION NUMBER: 1120744
STANHOPE AGRICULTURAL SOCIETY COMPANY LIMITED BY GUARANTEE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021
ALLEN SYKES LTD
Chartered Accountants Unit B4 Dales Centre Castle Gardens Stanhope Bishop Auckland County Durham DL13 2FJ
STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2021
| Pages | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 to 4 |
| Independent examiner's report to the trustees | 5 to 6 |
| Statement of financial activities (including income and expenditure account) | 7 |
| Statement of financial position | 8 to 9 |
| Notes to the financial statements | 10 to 17 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 19 to 20 |
| Notes to the detailed statement of financial activities | 21 |
STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
YEAR ENDED 30 NOVEMBER 2021
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 30 November 2021.
Reference and administrative details
Registered charity name Stanhope Agricultural Society Charity registration number 1120744 Company registration number 06194411 Principal office and registered 1 Hound Hill office Wolsingham Bishop Auckland Co Durham DL13 3AQ The trustees Mr J M Robson Mrs C Akrigg Mr R Mews Mr I Ross Mr A W Hutchinson Company secretary Ms L Johnstone Independent examiner Philip W Lamb FCA Unit B4 Dales Centre Castle Gardens Stanhope Bishop Auckland County Durham DL13 2FJ
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 30 NOVEMBER 2021
Structure, governance and management
Stanhope Agricultural Society is a Company Limited by Guarantee and a registered charity.
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 £100 each.
Trustee recruitment and appointment
The directors of the company are also trustees of the charity for the purposes of charity law. Admission of members to the society is by writing to the Secretary of the Society which is then considered by the Society's Council for admission.
Induction and training trustees
Most trustees are familiar with the practical work of the charity and are encouraged to undertake relevant training.
Objectives and activities
The charitable objective of the Association is to promote and improve agriculture for the benefit of the public by the improvement of livestock and the demonstration, exhibition and showing of livestock, machinery, crafts, products, methods and processes connected with agriculture and agricultural education.
The trustees have had due regard to guidance published by the Charity Commission on public benefit. In planning our activities we seek to provide benefit to the public, without prejudice, by our principal activities of improving the standards of farming and farm craft for the farmers residing within the area and encouraging and supporting activities organised by local community groups operating in Stanhope and the surrounding area.
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 30 NOVEMBER 2021
Achievements and performance
Planning for the 179th Stanhope Agricultural Show was delayed due to ongoing uncertainty regarding the Covid-19 pandemic and national restrictions. On the 23rd June 2021 committee voted to go ahead with the show.
Traders, attractions, exhibitors, and suppliers were all informed and planning was able to go ahead with an online schedule being published on our website. Section secretaries did a marvellous job of promoting and organising their sections with limited time.
A sub-committee chaired by Deputy Chair Mr C O Donovan implemented covid safety and awareness measures across all show sections.
Card readers were secured to ensure cashless payment methods were available for show visitors.
All main arena attractions were able to fulfil their engagement, having been initially secured for the show in 2020, and we enjoyed a diverse range of entertainers throughout the weekend.
The KC Dog Obedience and KC Open Dog Shows were not able to go ahead given the time constraints. The Fur & Feather Marquee was installed within the main showground instead of in an adjoining field and on Sunday the marquee was used for the Vintage Marquee and this new arrangement worked well.
New Grounds Manager, Charlie Blakey did an admirable job preparing for and during the show and committee members expressed their thanks for his hard work and vision. Sadly, Anne Coulthard who has organised the gate and bank staff was unable to do so this year but her suggested replacement, Ian Ross, proved very capable with the flow of visitors through the gates being smooth and efficient.
Financial review
A highly successful show was enjoyed with gate attendance raising £46,832. Trade stands raised, £19,736, and the sale of memberships raised £13,307.
As soon as restrictions were lifted, events and caravan rallies returned to the showground and these raised £8,562.
The accounts returned a surplus of £41,783 (2020: deficit of £5,206).
The level of unrestricted free reserves at 30th November 2021 was £186,758 (2020: £147,870). The charity requires reserves (money not designated for any purposes) in order to fund the provision of the annual show and to improve the on site facilities.
The Trustees consider that the reserves of at least the cost of holding the show should be held, currently estimated at £70,000 together with sufficient funds to enable the society to finance the purchase of additional facilities for the showground.
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 30 NOVEMBER 2021
Plans for future periods
It is hoped we are able to extend our support for local community groups. The society will strive to maintain the facilities of the showground to the highest level.
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 .............................. and signed on behalf of the board of trustees by:
Ms L Johnstone Charity Secretary
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STANHOPE AGRICULTURAL SOCIETY
YEAR ENDED 30 NOVEMBER 2021
I report to the trustees on my examination of the financial statements of Stanhope Agricultural Society ('the charity') for the year ended 30 November 2021.
Responsibilities and basis of report
As the trustees of the company (and also its directors for 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 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 charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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 financial statements 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).
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STANHOPE
AGRICULTURAL SOCIETY (continued)
YEAR ENDED 30 NOVEMBER 2021
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.
Philip W Lamb FCA Independent Examiner
Unit B4 Dales Centre Castle Gardens Stanhope Bishop Auckland County Durham DL13 2FJ
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 30 NOVEMBER 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 34,465 | – | 34,465 | 10,060 |
| Other trading activities | 6 | 84,939 | – | 84,939 | 446 |
| Investment income | 7 | 1 | – | 1 | – |
| Other income | 8 | 8,562 | – | 8,562 | 1,340 |
| ------------------------------------ | ---------------- | ------------------------------------ | ------------------------------- | ||
| Total income | 127,967 | – | 127,967 | 11,846 | |
| ==================================== | ================ | ==================================== | =============================== | ||
| Expenditure | |||||
| Expenditure on charitable activities | 9,10 | 67,663 | – | 86,184 | 17,052 |
| ------------------------------------ | ---------------- | ------------------------------------ | ------------------------------- | ||
| Total expenditure | 67,663 | – | 86,184 | 17,052 | |
| ==================================== | ================ | ==================================== | =============================== | ||
| ------------------------------------ | ---------------- | ------------------------------------ | ------------------------------- | ||
| Net income/(expenditure) | 60,304 | – | 41,783 | (5,206) | |
| ==================================== | ================ | ==================================== | =============================== | ||
| Transfers between funds | 4,800 | (4,800) | – | – | |
| ------------------------------------ | -------------------------- | ------------------------------------ | ------------------------------- | ||
| Net movement in funds | 65,104 | (4,800) | 41,783 | (5,206) | |
| Reconciliation of funds | |||||
| Total funds brought forward | 197,999 | 4,800 | 202,799 | 208,005 | |
| ------------------------------------ | -------------------------- | ------------------------------------ | ------------------------------------ | ||
| Total funds carried forward | 263,103 | – | 263,103 | 202,799 | |
| ==================================== | ========================== | ==================================== | ==================================== |
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 10 to 17 form part of these financial statements.
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible fixed assets | 16 | 57,824 | 54,929 | ||
| Current assets | |||||
| Debtors | 17 | – | 2,638 | ||
| Cash at bank and in hand | 185,680 | 143,895 | |||
| ------------------------------------ | ------------------------------------ | ||||
| 185,680 | 146,533 | ||||
| Prepayments and accrued income | 1,828 | 1,697 | |||
| ------------------------------------ | ------------------------------------ | ||||
| Net current assets | 187,508 | 148,230 | |||
| ------------------------------------ | ------------------------------------ | ||||
| Total assets less current liabilities | 245,332 | 203,159 | |||
| Accruals and deferred income | 750 | 360 | |||
| ------------------------------------ | ------------------------------------ | ||||
| Net assets | 244,582 | 202,799 | |||
| ==================================== | ==================================== | ||||
| Funds of the charity | |||||
| Restricted funds | – | 4,800 | |||
| Unrestricted funds | 263,103 | 197,999 | |||
| ------------------------------------ | ------------------------------------ | ||||
| Total charity funds | 19 | 263,103 | 202,799 | ||
| ==================================== | ==================================== |
For the year ending 30 November 2021 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 of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance 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 10 to 17 form part of these financial statements.
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION (continued)
30 NOVEMBER 2021
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Mr J M Robson Trustee
Company Registration Number: 06194411
The notes on pages 10 to 17 form part of these financial statements.
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2021
1. 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 1 Hound Hill, Wolsingham, Bishop Auckland, Co Durham, DL13 3AQ.
2. 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.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
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.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 NOVEMBER 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are 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 entitlement is established.
-
income from donated goods is measured at the fair value of the 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 services 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 services is recognised with the delivery of the contracted 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 VAT which cannot be recovered, and is reported as part of the expenditure to which it relates.
-
Charitable expenditure comprises those costs incurred by the charity in delivering its activities and services for its beneficiaries.
-
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include accountancy fees and costs linked to the strategic management of the charity.
Tangible assets
All fixed assets are initially recorded at cost.
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 NOVEMBER 2021
3. Accounting policies (continued)
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:
Toilet block - 4% straight line Motor vehicles - 15% reducing balance Equipment - Band Stand: 15% reducing balance. Other equipment: 6 years straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
All of the charity's financial instruments can be classed as basic. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Limited by guarantee
The company is limited by guarantee, there being no share capital, and as such is not controlled by any one individual but by the Board as a whole.
At 30 November 2021 there were 5 trustees each of whom had undertaken to contribute an amount not exceeding £100 in the event of a winding up.
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 NOVEMBER 2021
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Membership | 13,307 | 13,307 | – | – |
| Donations | 920 | 920 | 60 | 60 |
| Grants | ||||
| Government grant income | 20,238 | 20,238 | 10,000 | 10,000 |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | |
| 34,465 | 34,465 | 10,060 | 10,060 | |
| =============================== | =============================== | =============================== | =============================== |
6. Other trading activities
| Other trading activities | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Gate and car park receipts | 46,832 | 46,832 | – | – |
| Trade stands | 19,736 | 19,736 | 446 | 446 |
| Catalogues and programmes | 45 | 45 | – | – |
| Returned fees | 5,556 | 5,556 | – | – |
| Bar profit | 8,445 | 8,445 | – | – |
| Craft tent | 4,325 | 4,325 | – | – |
| ------------------------------- | ------------------------------- | ---------------- | ---------------- | |
| 84,939 | 84,939 | 446 | 446 | |
| =============================== | =============================== | ================ | ================ | |
| Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 1 | 1 | – | – |
| ================ | ================ | ================ | ================ | |
| Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Showfield rental | 8,562 | 8,562 | 1,340 | 1,340 |
| ========================== | ========================== | ========================== | ========================== |
7. Investment income
8. Other income
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 NOVEMBER 2021
9. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Agricultural show | 61,723 | – | 80,244 |
| Support costs | 5,940 | – | 5,940 |
| ------------------------------- | ---------------- | ------------------------------- | |
| 67,663 | – | 86,184 | |
| =============================== | ================ | =============================== | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Agricultural show | 10,402 | 300 | 10,702 |
| Support costs | 6,350 | – | 6,350 |
| ------------------------------- | ---------------- | ------------------------------- | |
| 16,752 | 300 | 17,052 | |
| =============================== | ================ | =============================== |
10. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Total funds | Total fund | |||
| directly Support costs | 2021 | 2020 | |||
| £ | £ | £ | £ | ||
| Agricultural show | 80,244 | – | 80,244 | 10,702 | |
| Governance costs | – | 5,940 | 5,940 | 6,350 | |
| ------------------------------- | -------------------------- | ------------------------------- | ------------------------------- | ||
| 80,244 | 5,940 | 86,184 | 17,052 | ||
| =============================== | ========================== | =============================== | =============================== | ||
| 11. | Net income/(expenditure) | ||||
| Net income/(expenditure) is stated after charging/(crediting): | |||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 5,049 | 4,497 | |||
| ========================== | ========================== | ||||
| 12. | Independent examination fees | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 810 | 390 | |||
| ================ | ================ | ||||
| 13. | Staff costs |
The charity does not have any paid employees.
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 NOVEMBER 2021
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees (2020 - None).
No trustee expenses have been incurred (2020 - None).
15. Transfers between funds
There were no transfers between funds undertaken during the year.
16. Tangible fixed assets
| Motor | |||||
|---|---|---|---|---|---|
| Toilet block | vehicles | Equipment |
Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1 December 2020 | 77,697 | – | 19,022 |
96,719 | |
| Additions | – | 7,000 | 944 |
7,944 | |
| ------------------------------- | -------------------------- | ------------------------------- | ------------------------------------ | ||
| At 30 November 2021 | 77,697 | 7,000 | 19,966 |
104,663 | |
| =============================== | ========================== | =============================== | ==================================== | ||
| Depreciation | |||||
| At 1 December 2020 | 30,642 | – | 11,148 |
41,790 | |
| Charge for the year | 3,108 | 700 | 1,241 |
5,049 | |
| ------------------------------- | -------------------------- | ------------------------------- | ------------------------------------ | ||
| At 30 November 2021 | 33,750 | 700 | 12,389 |
46,839 | |
| =============================== | ========================== | =============================== | ==================================== | ||
| Carrying amount | |||||
| At 30 November 2021 | 43,947 | 6,300 | 7,577 |
57,824 | |
| =============================== | ========================== | =============================== | ==================================== | ||
| At 30 November 2020 | 47,055 | – | 7,874 |
54,929 | |
| =============================== | ========================== | =============================== | ==================================== | ||
| 17. | Debtors | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Trade debtors | – | 2,638 | |||
| Prepayments and accrued income | 1,828 | 1,697 | |||
| -------------------------- | -------------------------- | ||||
| 1,828 | 4,335 | ||||
| ========================== | ========================== | ||||
| 18. | Government grants | ||||
| The amounts recognised in the financial statements for | government | grants are as follows: | |||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Recognised in income from donations and legacies: | |||||
| Government grants income | 20,238 | 10,000 | |||
| =============================== | =============================== |
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 NOVEMBER 2021
19. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 December | 30 November | ||||
| 2020 | Income | Expenditure | Transfers | 2021 | |
| £ | £ | £ | £ | £ | |
| General funds | 197,999 | 127,967 | (67,663) | 4,800 | 263,103 |
| ==================================== | ==================================== | =============================== | ========================== | ==================================== | |
| At | At | ||||
| 1 December | 30 November | ||||
| 2019 | Income | Expenditure | Transfers | 2020 | |
| £ | £ | £ | £ | £ | |
| General funds | 202,905 | 11,846 | (16,752) | – | 197,999 |
| ==================================== | =============================== | =============================== | ================ | ==================================== | |
| Restricted funds | |||||
| At | At | ||||
| 1 December | 30 November | ||||
| 2020 | Income | Expenditure | Transfers | 2021 | |
| £ | £ | £ | £ | £ | |
| Grants for buildings | 4,800 | – | – | (4,800) | – |
| ========================== | ================ | ================ | ========================== | ================ | |
| At | At | ||||
| 1 December | 30 November | ||||
| 2019 | Income | Expenditure | Transfers | 2020 | |
| £ | £ | £ | £ | £ | |
| Grants for buildings | 5,100 | – | (300) | – | 4,800 |
| ========================== | ================ | ================ | ================ | ========================== |
Transfers between funds
The transfer between restricted and unrestricted funds relates to fixed assets purchased with restricted funds. The restriction was lifted when the asset was purchased.
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 NOVEMBER 2021
20. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Tangible fixed assets | 57,824 | – | 57,824 |
| Current assets | 187,508 | – | 187,508 |
| Creditors less than 1 year | (750) | – | (750) |
| ------------------------------------ | ---------------- | ------------------------------------ | |
| Net assets | 244,582 | – | 244,582 |
| ==================================== | ================ | ==================================== | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Tangible fixed assets | 50,129 | 4,800 | 54,929 |
| Current assets | 148,230 | – | 148,230 |
| Creditors less than 1 year | (360) | – | (360) |
| ------------------------------------ | -------------------------- | ------------------------------------ | |
| Net assets | 197,999 | 4,800 | 202,799 |
| ==================================== | ========================== | ==================================== |
21. Related parties
The annual Agricultural Show is held on land which was purchased by the Society prior to charitable registration. This land is held by property trustees which are appointed by the members of the charity. There was no charge to the charity for use of this land during the year (2020 - Nil).
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
MANAGEMENT INFORMATION
YEAR ENDED 30 NOVEMBER 2021
The following pages do not form part of the financial statements.
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 30 NOVEMBER 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Membership | 13,307 | – |
| Donations | 920 | 60 |
| Covid business grant | 20,238 | 10,000 |
| ------------------------------- | ------------------------------- | |
| 34,465 | 10,060 | |
| ------------------------------- | ------------------------------- | |
| Other trading activities | ||
| Gate and car park receipts | 46,832 | – |
| Trade stands | 19,736 | 446 |
| Catalogues and programmes | 45 | – |
| Returned fees | 5,556 | – |
| Bar profit | 8,445 | – |
| Craft tent | 4,325 | – |
| ------------------------------- | ---------------- | |
| 84,939 | 446 | |
| ------------------------------- | ---------------- | |
| Investment income | ||
| Bank interest receivable | 1 | – |
| ---------------- | ---------------- | |
| Other income | ||
| Showfield rental | 8,562 | 1,340 |
| -------------------------- | -------------------------- | |
| ------------------------------------ | ------------------------------- | |
| Total income | 127,967 | 11,846 |
| ==================================== | =============================== |
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES (continued)
YEAR ENDED 30 NOVEMBER 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Rates and electric | 2,720 | 2,157 |
| Levies and insurance | 2,673 | 2,618 |
| Gatekeepers and erection | 7,626 | – |
| Special attractions | 13,466 | 424 |
| Prize money | 13,901 | – |
| Hire | 16,233 | – |
| Field rental | 2,400 | – |
| Printing and stationery | 3,101 | – |
| Advertising | 1,691 | – |
| Judges, rosettes, badges etc | 934 | – |
| Catering | 4,800 | – |
| Sundries | 705 | 474 |
| Repairs and renewals | 4,945 | 532 |
| Accountancy and examination fees | 810 | 390 |
| Secretarial fees | 5,130 | 5,960 |
| Depreciation | 5,049 | 4,497 |
| ------------------------------------ | ------------------------------- | |
| 86,184 | 17,052 | |
| ------------------------------------ | ------------------------------- | |
| ------------------------------- | ------------------------------- | |
| Total expenditure | 86,184 | 17,052 |
| =============================== | =============================== | |
| ------------------------------- | ------------------------------- | |
| Net income/(expenditure) | 41,783 | (5,206) |
| =============================== | =============================== |
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STANHOPE AGRICULTURAL SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE DETAILED STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 30 NOVEMBER 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Agricultural show | ||
| Activities undertaken directly | ||
| Rates and electric | 2,720 | 2,157 |
| Levies and insurance | 2,673 | 2,618 |
| Gatekeepers and erection | 7,626 | – |
| Special attractions | 13,466 | 424 |
| Prize money | 13,901 | – |
| Hire | 16,233 | – |
| Field rental | 2,400 | – |
| Printing and stationery | 3,101 | – |
| Advertising | 1,691 | – |
| Judges, rosettes, badges etc | 934 | – |
| Catering | 4,800 | – |
| Sundries | 705 | 474 |
| Repairs and renewals | 4,945 | 532 |
| Depreciation | 5,049 | 4,497 |
| ------------------------------- | ------------------------------- | |
| 80,244 | 10,702 | |
| ------------------------------- | ------------------------------- | |
| Governance costs | ||
| Accountancy and examination fees | 810 | 390 |
| Secretarial fees | 5,130 | 5,960 |
| -------------------------- | -------------------------- | |
| 5,940 | 6,350 | |
| -------------------------- | -------------------------- | |
| ------------------------------- | ------------------------------- | |
| Expenditure on charitable activities | 86,184 | 17,052 |
| =============================== | =============================== |
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