Reglstered number: 06616384 Charty number: 1130201 MELPLASH AGRICULTURAL SOCIETY LIMITED (A charltable company Ilmited by guarantse) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charitable company limited by guarantee) CONTENTS Page Reference and admlnlstratlve detall8 of the Company. Its Trustees and advisers Trustees, report Independent examlner's report Statement of flnanclal actlvltlas Balance sheet 9-10 Notes to the flnancial statements 11-28
MELPLASH AGRICULTURAL SOCIETY LIMITED (A ¢harltable company Ilmfted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2024 Trustees Mr J R B Bowditch Dr W B Bowditch Mr R G Bugler Mr W R Frost Mr P J Hardwill Mr N L Jon8S MrRJKing Mr D R Newman (resigned 13 September 2024) Mr C W R Palm8r Mr G Rendell Mrs J E Sage Mr G H Slreaffeild Mr J Vickery Mr S Wakely Mrs H Walbridg8 (appointed 22 January 2024) Company registered number C6616384 Charlty registered number 1130201 Reglstered offlce 23 South Street Bridport Dorset DT6 3NT Company secretary MrsLJHart Indopandanl examlner Matthew Haines FCA CB Reid Limited Wadebridge House 16 Wadebridge Square Poundbury Dorchester Dorset DT13AQ Page 1
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charitable company limited by guarant•e} TRUSTEES, REPORT FOR THE YEAR ENDED 31 OCTOBER 2024 The Truste8s {who are also Directors for the purposes of Company Law) have pleasure in presenting their annual report and the unaudited financial statements for the year ended 31 October 2024 The provisions of the statement of Recommended Practice °Accounting and Reporting by Charities. {SORP FRS 102 - implemented 1 January 2019} and the special provisions relating to small companies within Part 15 of the Companies Act 2006 have been adopted in preparing the annual report and financial statements of the Charity. Publlc beneflt The trustees report that the charitable activities described in "Objectives and Activities. and "Achievements and performance" paragraphs are for the public benefit. The trustees also confirm they have complied with section 4 of the Charities Act 2006 to have due regard lo the public benefit guidance published by Ihe Charity Commission. Objectlves and actlvitles The Charity's objects, and principal aclivity. are to improve the Standards of agriculture in West Dorset through the promotion of agricultural shows, ploughing matche5 and other agriculture related competitions, to educate the younger generation about the importance of agriculture to the local economy and to the environment and to enthuse and inspire th8m to study agriculturalty related subjects and to take up careers in agriculture and rural crafts. In setting our objectives and planning our activrties, the trustees have complied wrth the duty in section 17(5) of the Charities Act 2011 to give careful consideration to the Charily Commission's general guidance on public benefit. The activities of the charity will benefit the local community by educating them in the importance of agriculture, The charity is conscious of its responsibility lo demonstrate sound environmental management in all its activities. In particular it continues to look for ways to improve the management of waste and to limit the use of disposable plastics. The trustees have paid due regard to guidance is8ued by the Charty Commission in deciding what activities the charity should undertake. Achievements and performance Financial review From our successful show in August 2024, logether with our other activities, incoming resources of £388,357 were generated (2023 £408,122) The cosl of organising and putting on the show and oth8r activities was £418,835 (2023 - £383,403) resulting in a net deficrt in funds of £30,478. (2023 - surplus of £24,719). We had rain on the morning of Show Day which resulted in a slightly lower attendance and a drop in Show Day income. like many other simi18r organisations our operating costs also increased. However, thanks to the generous support of sponsors, donors and members. the Society paid scholarships totalling £33,842 (2023 £36,000) to assist individuals with agricuSlural related studies. We are currently providing scholarship for a total of 19 students. In addilion to this. grants totalling £500 (2023 - £1.500) have been paid to local organisations. The Truste8 Directors are satisfied that the charitWs objectives have been met. Reserves policy It is the policy of the Charity to hold sufficient funds to cover a show year as well as to reserve funds to replace ageing show and office equipment and to secure the future of the Society. At the dale of the balance sheet the Charity remains in a sound financial position with cash at bank in excess of £250,000 (2023 - £285,000). During the year we invested £25.830 to improve the showground and a bridge, we also replaced some IT equipment. The Balance Sheet shows that our net assets decreased by £30.478 to £324,668 (2023 - £355,146). Page 2
.. MELPLASH AGRICULTURAL SOCIETY LIMITED {A charitable company limlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 The King's Award for Voluntary Service His Majesty The King approved the KAVS National Assessment Committee's recommendation that the volunteers of Melplash Agricultural Society should receive The King's Award for Voluntary SeNice {KAVS) 2023. This represents a tremendous achievement and recognition of the hard work and support that many people contribute to the So¢iety. Plans for the future The Trustee Directors are always looking for ways in which the Society can increase the benefit it brings to the public and to our local community. The Society will continue to meet its aims of improvement of the standard of agriculture in West Dorsel through the promotion of our agricultural show, our ploughing match and our agricultural competitions. We continue to be involved in the education of the younger generation about the importance of agriculture to the local economy and to the environment. We continue to enthuse and inspire young people to sludy agriculturally related subjects and to take up careers in agriculture. the countryside and rural crafts. The Society will further it's focus using the show and th8 classroom at Washingpool Farm. We will use our scholarship scheme to assist with the education of young people on the importance of farming and food production, the environment, and the links with nutrition and health. The charity will Continue to engage with our local schools and colleges in order to encourage careers in agriculture and rural crafts. Discover Farming This year the Society has continued with its educalional activities. Our funds have been used to meet our objectives of providing education and support about agriculture for children in West Dorset. This support and education has been provided on Show Day in our marquee, in our classroom for primary schools, in our careers work with secondary schools and local colleges. We have had ovef 20 primary schools attend our Cla¢SrOoM with over 350 children learning about agficulture, food and the environment on the farm at Washingpiy,l. Through our scholarship scheme we have provided support to local students for their studies in Ihe UK in order to improve careers and the understanding of agricullure. Our bursary scheme will support those students that wish to study abroad. We sponsor a wriling competition about agriculture and the environment, we are also active in supporting Open Farm Sunday. The Sociely wim continue to develop it's educational programme for the next financial year. Risk management The Directors have considered the risks to which the charÉty is exposed. They have reviewed those risks and have established systems and procedures to manage them appropriately. We have developed guidelines and policies in line with Charity Commission guidance covering Safeguarding. Financial Governance, Employment as well as Equality and Diversity. Page 3
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charltable company limited by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Structure, governance and management Melplash Agricultural Society Limited is a registered charity, registered number 1130201 and a company limited by guarantee, registered number 06616384, registered address,. 23 South Street. Bridport, Dorset, DT6 3NT The governing document is the memorandum and articles of association dated 11 June 20D8 and amended 30 April 2009. The trustees, who are also the directors for the purwse of company law, and who served during the year and up lo the date of signature of Ihe financial statements were: Mr J R B Bowditch Dr W 8 Bowditch Mr R G Bugler {Treasurer) Mr W R Frost Mr P J Hardwill (Chairman) Mr N L Jon@S MrRJKing Mr D R Nenan (resigned 13 September 2024) Mr C W R Palmer Mr G Rend811 Mrs J E Sage Mr G H Streatfeild Mr J Vi¢kery Mr S Wakely (Vice Chairman) Mrs H Walbridge {appoinled 22 January 2024) At each annual general meeting, the number nearest to one quarter of the existing Trustee Directors must retire, being those who have been longest in office since their last appointment. New Trustee Directors shall be appointed following the approval of the other existing Trustee Directors. and there shall always be not less than one but not more than sixteen Trustee DirecloTS, unless othetwise determined by ordinary resolution. None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the evenl of IUldation of the company. The Charity shall have three executive roles undertaken by Trustee Directors, Chairman, Vice Chaimian and Treasurer. Nominations for these positions must be made to the Secretary al least 21 days prior to the annual general meeting. where they shall then be voted upon by the other members. Subject to an ordinary resolution to the contrary, Officers may seNe in the role in question for no more than two consecutive years. Page 4
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charltable company Ilmlted by guarantee> TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 statement of trustees, responslblllt5es The trustees (who are also directors of Melplash Agricultural Society Limited for Ihe purposes of Company Law) are responsible for preparing the Trustees, Report (incorporating the directors, report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accountin9 Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of th8 charitable company and of the income and expenditure of the charitabl8 company for that period. In preparing these financial statemenls. the trustees are required to- select suitable accounting policies and then apply them consistentSy', observe the methods and principles in the Charities SORP., make judgments and accounting estimates that are reasonable and prudent., stalé whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and prepare the financial statements on Ihe going concern basis unless it is inappropriate to presum8 that the charitable company will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charilable company and enable them to ensure that the financial statements Comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware.. Ihere is no relevant information of which the charili?ble company's independent examiners are unaware., and the Iruslees have taken all steps that they ougk,I to have taken to make themselve5 aware of any relevant information and to establish thal the independent examiners are aware of thal information. Approved by older of the members of the board of Truste8s on 27 January 2025 and signed on their behalf by.. Mr P J Hardwlll Trustee MrRG Trustee ugle Page 5
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charitable company limited by guarantee). INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2024 Independent Examlnerfs Report to the Trustees of Melplash Agricultural Society Llmited ('the Company'} I report to Ihe charity Trustees on my examination of the accounts of the Company for the year ended 31 October 2024. Responsibilitles and Basis of R6POrt As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'i. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eli9ible for independent examination. I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 {'Ihe 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 Since the Company'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 ICAEW, which is one of the listed bodies. 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 recorcls were not kept in respect of the Company as required by section 386 of the 2006 AGt', or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, VKgW which is not a matter considered as part of an independent examination: or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicabl& 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 examinalion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Page 6
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charltable company limited by guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED FOR THE YEAR ENDED 31 OCTOBER 2024 Signed.. Dated.. 27 January 2025 Matthew Haines FCA CB Reid Limited Wadebridge House 16 Wadebridge Square Poundbury Dorchester Dorset DT13AQ Page 7
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charitabl8 company Ilmlted by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2024 Restrlcted Unreslricted funds funds 2024 2024 Total funds 2024 Tolal funds 2023 Note Incom6 from: Grants, donations, Sponsorship and subscriptions Charitable activi118S Investments other income 55,984 77,869 241,440 9,543 3,521 133,853 241 A40 9,543 3,521 133,403 265, 582 4,678 4, 459 Total Income 55,984 332,373 388,357 408, 122 Expènditure on: other expenditure Charitable activies 33,842 25,574 500 358,919 34,342 384,493 37,500 345, 903 Total expendlture 69,416 359,419 418,835 383,403 Net lexpendlture}Ilncom• Transfers beeen funds (3,432) (5,750 (27,046 5.750 (30,478) 24, 719 16 Net movement In funds (9,182) (21,296) 130,4781 24, 719 ReGonclllatlon of funds: Total funds brought forward Net movement in funds 59,737 (9,182) 295,409 (21,296) 355,146 130,478) 330, 427 24, 719 Total funds carried forward 50.SSS 274,113 324,668 355, 146 All income and expenditure derive from continuing activities. The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 11 to 28 fom part of these financial statements. Page 8
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charltable company Ilmited by guarantee) REGISTERED NUMBER: 06616384 BALANCE SHEET AS AT 31 OCTOBER 2024 2024 2023 Noto Flxad assets Tangible assets 13 86,915 66,575 86,915 66,575 Current assets Debtors Cash at bank and in hand 14 2,482 2S4,382 5, 129 285.043 256,864 290, 172 Creditors- amounts falling due within oné year 15 119,111 (1.601) Ngt current assets 237,753 288,571 Total assets less current liabllltles 324,668 355, 146 Net asse1$ excludlng pension asset 324,668 355, 146 Total net assets 324,668 355, 146 Charlty funds Restricted funds Unrestricted funds 16 16 50,555 274,113 59, 737 295, 409 Total funds 324,668 355, 146 The Company was entilled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The linancial statements were approved and authorised for issue by the Trustees on 27 January 2025 and signed on their behalf by: Page 9
MELPLASH AGRICULTURAL SOCIETY LIMITED {A charitable company limlted by guarantee) REGISTERED NUMBER: 06616384 BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2024 *7AI/ Mr P J Hardwill (Trustee) MrRGBu (Trustee) The notes on pages 11 to 28 form part of these financial statements. Page 10
. MELPLASH AGRICULTURAL SOCIETY LIMITED (A charltable company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 General Snfomiation Melplash Agricultural Society Limited is a private company limited by guarantee incorporated in England and Wales. The regislered office is 23 South Street, Bridport, Dorset, DT6 3NT. Accountlng policios 2.1 Basls of preparation of flnancial statements The financial statements have been prepared in accordance with the Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" {"FRS 102") and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective l January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provistons in the SORP for charities not to prepare Satement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statement5 are rounded to the nearest £. Th8 financial statements have been prepared under historical cost convention. The principal acounting policies are set out below. 2.2 Golng concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue ri i operational existence for the foreseeable future. Thus the trustees continue to adopt th8 going concern basis of accounting in preparing th8 financial statements. 2.3 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Reslricled funds are funds which are to be used in accordance with specific restrictions imposed by doncrs or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are Charged againsl Ihe specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Pag&11
. MELPLASH AGRICULTURAL SOCIETY LIMITED IA charltabla company limited by guarantae) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting policies (continued) 2.4 Income Incoming resources are included in the statement of financial activities when the charity is enlilled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categorie5 of income- Income received by way of membership. sponsorship, donations and gifts is included in full in the statement of financial activities when receivable. Income from the sale of logo merchandise is included in the period in which it is receivable. Income from investments is included in the period in which it is receivable. Income received in the year that relates to the show due to take place in the following August is deferred until the financial year in which the show actually takes place. Other income received in advanc8 is also deferred. Income from charitable activities includes income directly related lo the annual show such as gate takings, sland fees and entry fees. 2.5 Expendlture Liabilitie5 are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Charitabl8 expenditure comprises those Cosis incurred by the charity in the delivery of its activiti8S and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Grants payable are payments made to third parties in the furtherance of the charitable objectives. Where the charity gives a grant with conditions for its payment being a specific level of service or output lo be provided, such grants are only recognised in the statement of financial activiti8s once the recipient of the grant has provided the specific service or output. Grants payable without Performance conditions are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. Page 12
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charitable company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng policies (cont5nued) 2.6 Tanglble fixed assets and depreclatlon Tangible fixed assets are initially recognised at cost. After recognition. under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exisls, the recoverable amount of the asset is determined to be the higher of ils fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds Ihe recoverable amount. Depreciation is charged so as lo allocat8 the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the followng bases: Freehold land and buildings 150/0 and 200A reducing balance, land is not depreciated Fixtures, frtlings and equipment 15QA reducing balance and 200h straight line 2.7 Debtorn Trade and other debtors are recognised at the settlement amount due. 2.8 Cash at bank and In hand Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of Ihree months or less, and bank overdrafts. 2.9 Llabllltles and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement be estimated reliably. Page 13
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charitable company limited by guarantee) . NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng pollcfjes (¢ontinued> 2.10 Financial Instruments Th8 charity only holds basic financial Instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as folk)ws'. Financial asset - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments a not financial instruments. Cash al bank and deposit accounts - is classrfied as a basic financial instrument and is measured at face value, Financial liabilities trade creditors, accruals and other creditors are financial instruments. and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed lo be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial statement. 2.11 Operating leases Rentals pald under operating leases are charged to the Statement of financial activities on a 5traight-line basis over the lease term. 2.12 Penslons The Company operates a define.d contribution pension scheme and the pension charge represent8 the amounts payable by the Conipany to the fund in respect of the year. Page 14
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charitable Company limited by guarante8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Income from donations and legacies Restrlcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Appeals. donations and sponsorship Subscriptions 55,984 46,330 31,539 102,314 31,539 55,984 77,869 133,853 Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Appeals, donations and sponsorship Subscriptions 59,032 42,538 31,833 101,570 31,833 59,032 74,371 133,403 Income fron.: other trading act5vlties Incom8 from non charltable tradlng actlvitles Unrestricted funds 2024 Total funds 2024 M8lplash stand fees Show day income Food and beverage income Show advertising 64,242 144,455 30,000 2,743 64,242 144.455 30.000 2.743 241,440 241,440 Page 15
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charltable company Ilmlted by guarantee). . NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Income from other tradlng activitles (continued) Income from non charltable trading activ5tles lcontlnued Unr8Stricted funds 2023 Total runds 2023 Melplash sland fees Show day income Food 8nd beverage income Show advertising 62, 107 170, 760 28,295 4,420 62,107 170, 760 28,295 4,420 265,582 265,582 Inv6stmgnt Income Unrestricted funds 2024 Total funds 2024 Interest receivable 9,543 9.S43 Unrestricted fuiids 2023 Total funds 2023 Interest receivable 4.678 4,678 Other Incoming resources Unrestricted funds 2024 Total funds 2024 Other income 3,521 3,521 Page 16
. MELPLASH AGRICULTURAL SOCIETY LIMITED (A charltable company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Other Incomlng resources (continued) Unrestricled funds 2023 Total funds 2023 Other income 4,459 4.459 Othor expenditure Unrestricted R8strlcted funds funds 2024 2024 Total funds 2024 Grants payable - individuals Grants payable - institutions 33.842 33,842 500 500 500 33,842 34,342 unSIr1cled funds 2023 Rostriclecl funds 2023 Total funds 2023 Grants payable- individuals Grants payable- institutions 36, 000 36, 000 1,500 1,500 36,000 37,500 Total grants paid to institutions relate to donations made to agricultural related clubs and societies. Total grants paid to individuals relate to scholarships granted to individuals who are studying agriculturally related subjects. At the balance sheet date, cash at bank and in hand includes a balance of £22,433 (2023.. £30,340) which is held in a separate bank account and is designated for payment of future scholarships. Page 17
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charltable company Ilmited by guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Charltable actlvltles Restricted Unrestrlcted funds funds 2024 2024 Total funds 2024 Staff costs Depreciation and impairment Staff training Rent Light, heat and power Insurance Repairs and maintenance Telephone and fax Printing, postage and stationery Show day costs Discover farming expenses Advertising and promotion Members event costs Accountancy Independent examination Legal and professional fees Bank charges and interest Travel costs 46,570 5,490 1,563 5,267 1,390 3,611 9,890 1,493 6,247 257,441 46,570 5,490 1,563 5,267 1,390 3,611 9,890 1,493 ,247 257,441 25,574 6,352 6,725 810 320 736 4,446 568 25,574 6,352 6,725 810 320 736 4,446 568 25,574 358,919 384,493 Page 18
MELPLASH AGRICULTURAL SOCIEfi LIMITED (A charltable company Ilmlted by guaranto8} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Reslrffcted Unr8slncted funds runds 2023 2023 Tolal funds 2023 Staff costs Depreciation and impairment Staff training Rent Light, heal and power Insurance Repair8 and maintenance Telephone and fax Printing, postage and stationery Show day costs Discover farming expenses Advertising and promotion Members event costs Accountancy Independent examination Legal and professional fees Bank charges and interest Travel costs 37,810 1, 195 438 tO,250 664 3,363 7,813 1.882 7,096 234,424 37,810 1, 195 438 10,250 664 3,363 7,813 1,882 7,096 234,424 17,911 7, 854 11,881 780 300 48 2, 194 17.911 7,854 11,887 780 300 48 2, 194 17,911 327,992 345,903 Page 19
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charitable company Ilmlted by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Show day costs Unrestricted funds 2024 Total funds 2024 Road costs and signs Waste disposal Office refreshmenl8 Affiliation fees Society catering Show ground maintenance Hedging and ploughing Judges bar and expenses Toilets Grand stand Show field and trade stand electronics PA and radios Attractions Tentage First aid cover Printing and copying Schedales. calalogues and show guides Prizes Rosettes and badges Trophies and engraving Furniture hire Equipment hir6 Carpark and gate stewarding Commission paid Horse expenditure Security Commentator Marketing Casual wages 4,332 1,864 95 1.396 20.091 13,816 3,119 3.795 17,030 2,040 9,894 9,266 11,958 41,359 2,182 7,222 4,895 15,863 2,483 1,045 9.152 13.823 28,668 4,468 2,591 7,905 446 13,513 3,130 4,332 1,864 95 1,396 20,091 13,816 3,119 3,795 17,030 2,040 9,894 9,266 11,958 41,359 2,182 7,222 4,895 15,863 2,483 1,046 9,152 13,823 28,668 4,468 2,591 7,905 13,513 3,130 257.441 257,441 Page 20
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charitable company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 UnStriCted funds 2023 Total funds 2023 Road costs and signs Waste disposal Office refreshments Affiliation fees 2, 040 1,490 81 2, 040 q,490 81 944 27 17,899 11,544 3,337 4,542 13,572 2,040 7,988 8,580 10,860 40,975 2, 732 9, 743 5,589 14,030 3,546 1,235 7,001 13,993 25,430 7,033 407 14,951 2,815 944 27 17,899 11,544 3, 337 4,542 13,572 2,04Q 7,988 8,58Q 10,860 40,975 2, 732 9, 743 5, 589 14, 030 3,546 t,235 7,OOf 13,993 25,430 7, 033 407 14,951 2,815 Sundry expenses Society catering Show ground maintenance Hedging and ploughing Judges bar and expenses Toilets Grand stand Show field and trade stand electrics PA and radios Attractions Tentage First aid cover Printing and copying Schedules, catalogues and show guides Prizes Rosettes and badges Trophies and engraving Furniture hire Equipment hire Carpark and gate stewarding Commission paid Commentator Marketing Casual wages 234,424 234,424 10. Independent examinerfs remuneration The independent examinerfs remuneration amounts to an independ8nt examiner fee of £320 (2023 - £300), and other fees of £810 (2023- £780). Page 21
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charitable company limited by guarant60) . NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 11. Staff costs 2024 2023 Wages and salaries Contribution to defined contribution pension schemes 45,418 1,162 37,006 804 46,670 37,810 The averag8 number of persons employed by the Company during the year was as follows.. 2024 No. 2023 No. Employee No employe& received remuneration amounting to more than £60,000 in either year. The key management personnel of the charity is considered to be the Company Secretary. The total cost to the charity of employee benefits for the key management personnel (including Employers National Insurance) was £36,839 (2023.. £34.765). 12. Trustees. remuneration and expenses During the year, nri Trustees received any remuneration or other benefits (2023 - £IlL). During the year ended 31 October 2024, no Trustee expense8 have been incurred (2023 - £NIL). Pag6 22
. MELPLASH AGRICULTURAL SOCIETY LIMITED IA charitable company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 13. Tangible fixed assets Freehold Fixtures and property fittings Total Cost or valuatlon Al 1 November 2023 Additions 95.859 22.500 24,871 3.330 120,730 25,830 Al 31 October 2024 118,359 28,201 146,560 Depreclatlon Al 1 November 2023 Charge for the year 32,068 4.574 22,097 916 54,155 6,490 Al 31 October 2024 36,632 23,013 59,645 Net book value Al 31 October 2024 81,727 5,188 86,915 Al 31 Octobor 2023 63,801 2, 774 66,575 14. Debtors 2024 2023 Due wlthln one year Prepayments and accrued income 2,482 5, 129 2,482 5, 129 Page 23
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charltable company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 15. Credltors: Amounts falling due wlthln one year 2024 2023 other taxation and social security Pension fund loan payable Accruals 448 178 18,485 144 1,457 19,111 1,601 Page 24
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charitable company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 16. Statement of funds Statement of funds - current year Balance at 1 November 2023 Balance at Transfers 31 October Inlout 2024 Income Expendlture Unrestricted funds G8neral 295,409 332,373 1359.419) 5,750 274,113 R8Strlctod funds Discover farming Scholarships 29,397 30,340 24,299 31,685 (25.574) {33,842) 28,122 22,433 16,750) 59,737 SS,984 {59.416) 15,750) 50,556 Total of funds 355,148 388,3S7 1418,835) 324,668 Page 25
MELPLASH AGRICULTURAL SOCIETY LIMITED (A charitable company IlmSted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 16. Statement of funds (continued) statement of funds - prlor year Balance at I l*Jovember 2022 Balance al 31 October 2023 Transfers in/ou¢ Incomo Expgnditure Unrostrlcted funds General 276,036 349, 090 (329,492) (225) 295, 409 Restricted fund8 Discover farming Scholarships 20.491 33,900 26,817 32,215 (17.911) (36.000) 29,397 30,340 225 54.391 59,032 (53.911) 225 59, 737 Total of funds 330, 427 408, 122 (383, 403) 355, 146 The unrnstricled fund arose when the assets and liabilities of Mel')lash Agricullural Society, an unincorporated charity, were transferred to Melplash Agricultural Society Limited. The purpose of the fund is to improve the standards of agriculture and horticulture in West Dorsel and in particular organise the annual Melplash Agricultural Show, The restricted fund arose on the receipt of donations specifically to be expended in relation to the 'Discover Farming, project. Discover Famiing is dedicated to educating children on the linkage between food, farming and the 8nvironment. The classroom at Washingpool Farm hosts local schools and educates students on food and farming with the aim of inspiring more teenagers to consider a career in agriculture. The scholarship fund arose from donations provided specÉfically to fund scholarships for individuals to assist with agricultural related studies. The charity makes an annual contribution lo the fund of £3,000. Page 26
'. MELPLASH AGRICULTURAL SOCIETY LIMITED (A charitable company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 17. Analysls of nfrt assets between funds Analysls of net assets between funds - current perlod Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 86,915 206,309 (19,111) 86,915 256,864 (19,111) 50,555 Total 50,555 274,113 324,668 Analysls of nol assets between funds - prlor perlod Reslricted Unrestrict6d funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 66, 575 230, 435 (1,601) 66,575 290, 172 (1,601) 59, 737 Total 59, 737 295, 409 355, 146 18. Penslon commitments The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently adminislered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £1,152 (2023 - £804). Page 27
MELPLASH AGRICULTURAL SOCIETY LIMITED {A charitable company Ilmlted by guarantee) .... NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 19. Operatlng lease commitments At 31 October 2024 the Company had commitments to make future minimum lease payments under non- cancellable operaling leases as follows- 2024 2023 Land and building5 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years Office equipment Nol later than 1 year Later than l year and not later than 5 years Later than 5 years 4,500 18,000 4,443,750 4, 500 18,000 4,448, 250 2,067 5,166 2.067 7,233 4,473,483 4,480,050 There is a 999 year lease granted over land at Broomhills Farm and Cowleaze, which commenced 1 May 2018. This repr8sents the commitmenl of £4,443,750 noted above. 20. Members'1Sablllty The charity is a prii.ate company limited by guarantee and consequently does nol have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 21. Related party transactlons The charity Purchased goods and services from P.H.Hardwill Limited (PHHL), of which P J Hardwill is a director, to the value of £15.540 (2023.- £nil). There were no amounts due to or from PHHL al the year end (2023.. £nil). Page 28