Registered number 07006821
Haddenham Steam Rally
Report and Accounts
31 December 2023
Charity number 1140973
## **Haddenham Steam Rally Registered number: 07006821 Charity number: 1140973**
## **Trustees' Annual Report, including Directors' Report Year Ended 31st December 2023**
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report for the year ended 31st December 2023.
## **Small company provisions**
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
## **Structure, governance and management**
The company took over the activities of the Haddenham Steam Rally in 2010, having obtained charitable status. Trustees are appointed by the members of the committee at the Annual General Meeting (AGM), as and when necessary.
## **Objectives and Activities**
The charity exists to help preserve the heritage of road-going and other steam engines, historic agricultural equipment and machinery and other traditional country activities, and to educate the public in the heritage. This is done by putting on the Rally each year for the public to visit, with exhibits, many of them working, and demonstrations of vintage machinery and techniques.
## **Trustees and Directors**
The following persons served as trustees and directors during the year: Kelvin Young Denise Young Trevor Brown Paul Cornwell Roger Foster Robert Pumfrey Gavin Young Terry Young
## **Company Secretary**
Denise Young
## **Financial Review**
The trustees are pleased with the Rally, and attendance, for year 2023. However, expenses exceeded income, and the Vat threshold acts as a constraint on gate fees. It is noted that income was close to the threshold in 2023, and it is hoped that the increased threshold in 2024 will enable the company to remain outside the Vat regime.
## **Director's/trustees' responsibilities**
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
__________________________
K Young, Trustee August 27th 2024
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## **Haddenham Steam Rally**
## **Statement of Financial Activities, including Income and Expenditure Account for the year ended 31 December 2023**
|**Income**
Donations and legacies
Charitable activities
Investments
**Expenditure**
Charitable activities
Staging the annual Steam Rally
Depreciation
Governance
**Distribution costs**
Distribution costs
**Net income/(expenditure) before tax for the period**
**Net movement in funds**
Total funds brought forward
Total funds carried forward|**2023**
**2022**
**£**
**£**
6,190
250
82,054
105,391
226
171
88,470
105,812
92,295
79,445
-
-
1,350
800
93,645
80,245
220
93
(5,395)
25,474
(5,395)
25,474
35,076
9,602
29,681
35,076
**Unrestricted funds**|**2023**
**2022**
**£**
**£**
6,190
250
82,054
105,391
226
171
88,470
105,812
92,295
79,445
-
-
1,350
800
93,645
80,245
220
93
(5,395)
25,474
(5,395)
25,474
35,076
9,602
29,681
35,076
**Unrestricted funds**|
|---|---|---|
|||105,812|
|||79,445
-
800|
|||80,245|
|||93|
|||25,474
25,474
9,602|
|||35,076|
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## **Haddenham Steam Rally Registered number: 07006821 Balance Sheet as at 31 December 2023**
|**Notes**
**Current assets**
Debtors
4
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
5
**Net current assets**
**Total net assets or liabilities**
**Capital and reserves**
Unrestricted funds
**Shareholders' funds**|**2023**
**£**
92
32,489
32,581
(2,900)
29,681
29,681
29,681
29,681|**2022**
**£**
-
38,076
38,076
(3,000)
35,076
35,076
35,076
35,076|**2022**
**£**
-
38,076
38,076
(3,000)
35,076
35,076
35,076
35,076|
|---|---|---|---|
|||||
||||35,076|
||||35,076|
||||35,076|
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
The trustees are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime and in accordance with FRS102 SORP.
Approved by the board
and signed on behalf of the trustees
Kelvin Young Trustee Approved by the board on 27 August 2024
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**Haddenham Steam Rally Notes to the Accounts for the year ended 31 December 2023**
## **1 Accounting policies**
## _**Basis of preparation**_
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 and the Statement of Recommended Practice applicable to charities (SOFA).
## _**Income**_
Income is included in the SOFA when the charity becomes entitled, and the income can be measured with sufficient reliability. Where income has related expenditure, the income and related expenditure is reported gross in the SOFA.
## _**Tangible fixed assets**_
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years Fixtures, fittings, tools and equipment over 5 years
## _**Debtors**_
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
## _**Creditors**_
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
## _**Provisions**_
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
|**2**
**Employees**
Average number of persons employed by the company|**2023**
**Number**
0|**2022**
**Number**
0|
|---|---|---|
4
## **Haddenham Steam Rally Notes to the Accounts**
**for the year ended 31 December 2023**
## **3 Tangible fixed assets**
|**Cost**
At 1 January 2023
At 31 December 2023
**Depreciation**
At 1 January 2023
At 31 December 2023
**Net book value**
At 31 December 2023
**4**
**Debtors**
Other debtors
**5**
**Creditors: amounts falling due within one year**
Accruals
Other creditors|**2023**
**£**
92
**2023**
**£**
900
2,000
2,900|**Plant and**
**machinery**
**etc**
**£**
499|
|---|---|---|
|||499|
|||499|
|||499|
|||-|
|||**2022**
**£**
-|
|||**2022**
**£**
200
2,500|
|||2,700|
## **6 Trustees' expenses**
Expenses were reimbursed to trustees in fulfilling their duties as follows. On 18th October 2023, £600 was paid to Gavin Young for compiling Rally Programme and on 4th December 2023 £605.52 was paid for the reimbursement of expenses, including website design, stationery, mobile phone and training. On 17th November 2023, £430.95 was paid to Trevor Brown for the reimbursement of expenses, including travel, postage, cup engraving and telephone. Thus, two trustees were reimbursed a total of £1,636. It is in the nature of the company's activities that certain requirements are more readily resourced directly by trustees.
## **7 Related party transactions**
The Friends of Haddenham Steam Rally fundraises for and supports the charity. At the year end, a loan was outstanding to the Friends of £2,000 (2022 £2,000). Amounts of £400 each (2022 £500) were paid to D Young and R Young, trustees of the charity, with the authority of the committee, in lieu of expenses and in recognition of their essential work undertaken on behalf of the company.
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## **Haddenham Steam Rally**
## **Notes to the Accounts**
**for the year ended 31 December 2023**
## **8 Controlling party**
The company is limited by guarantee and has no share capital, and is registered with the Charity Commisson, number 1140973. The members guarantee the sum of £1 on winding up.
## **9 Other information**
Haddenham Steam Rally is a private company incorporated in England. Its registered office is:
Darkin Meadow Lane Earith PE28 3QE
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## **Independent Examiner’s Report to the trustees of Haddenham Steam Rally**
## **Period Ended December 31st 2023**
I report on the company’s accounts for year ended December 31[st] 2023 set out on pages 1-6.
**Respective** The trustees are responsible for the preparation of the accounts. The trustees **responsibilities of** consider that an audit is not required for this year under section 144 of the **trustees and** Charities Act 2011 (the 2011 Act) and that an independent examination is **examiner** needed.
Having satisfied myself that the charity is not subject to audit and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 145 of the 2011 Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act, and
- to state whether particular matters have come to my attention.
**Basis of** My examination was carried out in accordance with general Directions given **independent** by the Charity Commission. An examination includes a review of the **examiner’s report** accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the next statement.
In connection with my examination, no matter has come to my attention:
**Independent** 1) which gives me reasonable cause to believe that in, any material respect, **examiner's** the requirements: **statement**
- to keep accounting records in accordance with section 386 of the Companies Act; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 386 of the Companies Act and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
- have not been met or
2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
C Prescott, FCCA, Pond House, Station Road, Haddenham, Cambs
Date: September 11[th] 2024
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