Registered Charity No. 1147998 Company No. 04380814
TOTNES AND DISTRICT SHOW SOCIETY
A COMPANY LIMITED BY GUARANTEE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
Totnes and District Show Society
Contents of the Financial Statements for the Year Ended 31 October 2023
| Page | |
|---|---|
| Company Information | 1 |
| Trustees’ Report | 2-4 |
| Independent Examiners’ Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8-11 |
| Detailed Statement of Financial Activities | 12-13 |
Totnes and District Show Society
Company Information for the Year Ended 31 October 2023
| TRUSTEES: | Mr M H Batting |
|---|---|
| Mr M D Tewson | |
| Mr N J Maslen | |
| Mr I G Dennis | |
| Mr R C Steer | |
| Mr R H Harvey | |
| Mrs S Irish | |
| SECRETARY: | Mrs L E Harvey |
| REGISTERED OFFICE: | First Floor, CEF Building |
| Broomhill Way | |
| Torquay | |
| Devon | |
| TQ2 7QN | |
| REGISTERED NUMBER: | 04380814 (England and Wales) |
| CHARITY NUMBER: | 1147998 |
| ACCOUNTANTS: | Mark Ward Chartered Certified Accountants |
| First Floor, CEF Building | |
| Broomhill Way | |
| Torquay | |
| Devon | |
| TQ2 7QN | |
| BANKERS: | Lloyds Bank |
| 31 Fore Street | |
| Totnes | |
| Devon | |
| TQ9 5HH |
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Totnes and District Show Society
Trustees’ Report
for the Year Ended 31 October 2023
The trustees present their report with the financial statements of the charity for the year ended 31 October 2023 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 1 January 2015).
CHAIRMAN’S REPORT
Despite weather conditions being less than favourable in the run up to the Show, we had a reasonable day. But, however, it did affect visitor numbers, and this is apparent in the gate revenue. I’m sure that with better weather and the amount of attractions that the show provides, attendance will hopefully be better in 2024.
I would like to thank the volunteers who put in a lot of time and effort in the week before the show, on the day, and also on the Monday clearing up the show site. I would also like to thank the show secretary for her hard work all through the year, my fellow directors for their knowledge and input, and the stewards for their continued support.
Mr R C Steer Chairman
GOVERNING DOCUMENT
Totnes and District Show Society is a company limited by guarantee and is governed by its memorandum and articles of association dated 25 February 2002, amended 29 May 2012. The trustees’ individual liability is limited to £10 in the event of the charity winding up.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity number: 1147998 Company number: 04380814 Registered office: First Floor, CEF Building, Broomhill Way, Torquay, TQ2 7QN
DIRECTORS AND TRUSTEES
The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year end were as follows:
N J Maslen M J Pedrick M D Tewson J L Wilmot (resigned 27 March 2023) A Palk (resigned 10 March 2023) M H Batting I G Dennis R C Steer
Changes in directors and trustees since the year end are as follows:
Mr R H Harvey – appointed 18 January 2024 Mr M J Pedrick – resigned 18 January 2024 Mrs S Irish – appointed 18 January 2024
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Totnes and District Show Society
Trustees’ Report for the Year Ended 31 October 2023
OBJECTIVES AND ACTIVITIES
The Charity’s objectives are to promote agriculture, animal husbandry, horticulture and forestry in all their respective aspects for the benefit of the public in the South Hams and surrounding areas.
In furtherance of the objects but not otherwise, the society may exercise the following powers:
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To hold an annual show known as the “Totnes Show”.
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to raise funds. In doing so, the charity must not undertake any substantial permanent trading activity and must comply with any relevant statutory regulations.
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to buy, take on lease or in exchange, hire or otherwise acquire any property and to maintain and equip it for use.
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to sell, lease or otherwise dispose of all or any part of the property belonging to the charity.
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to borrow money and to charge the whole or any part of the property belonging to the charity as security for repayment of the money borrowed or as security for a grant or the discharge of an obligation.
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to co-operate with other charities, voluntary bodies and statutory authorities and to exchange information and advice with them.
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to establish or support any charitable trusts, associations or institutions formed for any of the charitable purposes included in the Objects.
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to employ and remunerate such staff as are necessary for carrying out the work of the charity.
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To do all lawful things as are necessary for the achievement of the above objects.
FINANCIAL REVIEW OF ACTIVITIES
The Totnes Show was held on Sunday 30 July 2023. The show was well attended, and much positive feedback was received. As a result, the show was able to make a number of donations to local good causes as detailed below and has also been able to continue to rebuild financial reserves, which were depleted during the Covid Pandemic, and this will enable the show to continue in existence for the foreseeable future.
RISK MANAGEMENT
The trustees examine the major risks to which the charity is exposed and are satisfied that procedures are in place to mitigate these risks.
RESERVES
The Charity has no specific policy as to the level of unrestricted reserves held and has no restricted or designated unrestricted funds.
PUBLIC BENEFIT
The annual show is open to the general public and entrance fees are kept as low as economically possible.
PLANS FOR FUTURE PERIODS
The committee is actively planning the 2024 show, which will be held on Sunday 28 July 2024 and the trustees are working hard to ensure that many special features will make it a memorable day.
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Totnes and District Show Society
Trustees Report for the Year Ended 31 October 2023
DONATIONS
The following donations were made during the period:
| DONATIONS The following donations were made during the period: |
||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Devon Air Ambulance | 460 | 50 |
| Totnes Community Bus (Bob the Bus) | 750 | 850 |
| Totnes ATC | 350 | 350 |
| Newton Abbot Community Transport | 100 | 100 |
| Lifeworks | 500 | 350 |
| Dartmoor Hill Ponies | - | 400 |
| Totnes Caring | 500 | 500 |
| Totnes Young Farmers Club | 250 | 250 |
| Rotary Club of Newton Abbot | 100 | - |
| KEVICC Peace Garden | 100 | - |
| Diabetes Unit Torbay Hospital | - | 400 |
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees are responsible for preparing the annual report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards. 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 the charity and of the surplus of the charity for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
ON BEHALF OF THE BOARD:
Mrs L E Harvey - Secretary
Date: 18 January 2024
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Totnes and District Show Society
Independent Examiners’ Report to the Board of Trustees on the unaudited accounts of Totnes and District Show Society
I report on the accounts for the year ended 31 October 2023 set out on pages 6 to 11.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the Charities Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the 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 the 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 statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
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that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I 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.
Mark Ward FCCA Mark Ward Chartered Certified Accountants First Floor, CEF Building Broomhill Way Torquay Devon TQ2 7QN
Dated:
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Totnes and District Show Society
Statement of Financial Activities (including income and expenditure account) for the Year Ended 31 October 2023
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| 31.10.23 | 31.10.22 | ||
| Notes | £ | £ | |
| Incoming resources | |||
| Incoming resources from generated funds | |||
| Investment income | 4 | 1,623 | 864 |
| Incoming resources from charitable | |||
| Activities | 5 | 132,645 | 141,589 |
| Total incoming resources | 134,268 | 142,453 | |
| Resources expended | |||
| Costs of charitable activities | 6 | 113,633 | 101,632 |
| Governance costs | 8 | 5,041 | 5,309 |
| Total resources expended | 118,674 | 106,941 | |
| Net surplus/(deficit) for the year before other | |||
| recognised gains | 15,594 | 35,512 | |
| Other recognised gains | - | - | |
| Net surplus/(deficit) for the year | 15,594 | 35,512 | |
| Total funds brought forward | 199,855 | 164,343 | |
| Total funds carried forward | 215,449 | 199,855 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure is derived from continuing activities.
The annexed notes on pages 8 to 11 form part of these accounts.
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Totnes and District Show Society
Balance Sheet 31 October 2023
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Stock of polo shirts and ties Debtors 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES THE FUNDS OF THE CHARITY Unrestricted fund 12 TOTAL CHARITY FUNDS |
2023 £ 643 235 203,658 204,536 (4,969) |
£ 15,882 199,567 215,449 215,449 215,449 |
2022 £ 643 2,267 192,174 195,084 (12,392) |
£ 17,163 182,692 199,855 199,855 199,855 |
|---|---|---|---|---|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The trustees have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
The financial statements were approved by the Board of Trustees on 18 January 2024 and were signed on its behalf by:
R C Steer - Trustee
Company Registration Number: 04380814
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Totnes and District Show Society
Notes to the Financial Statements for the Year Ended 31 October 2023
1. ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Basis of preparation
The financial statements have been prepared in accordance with 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 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006
Reconciliation with previous Generally Accepted Accounting Practice
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. At the date of transition, it was considered that no such restatement was required.
Fund accounting
Restricted Funds – The Charity has no restricted funds.
Unrestricted Funds – These are donations and other incoming resources receivable or generated for the objects of the charity without further specific purpose and which the charity may use for its purpose at its discretion.
Incoming resources
Income represents income received from charitable activities during the period. Incoming resources are accounted for on a receivable basis. Unless stated, no incoming resources have been included in the SOFA net of expenditure.
Resourced expended
Resources expended are included in the statement of financial activities on an accruals basis, inclusive of VAT where applicable as the charity is not VAT registered.
Tangible fixed assets
All fixed assets are capitalised at cost and are depreciated over their estimated useful economic lives as follows:
Plant and machinery - 10% on reducing balance Computer equipment - 25% on cost
Stock
Stock is included at the lower of cost or net realisable value.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and in hand includes short term liquid investments with a short maturity date of three months or less from the date of opening the account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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Totnes and District Show Society
Notes to the Financial Statements for the Year Ended 31 October 2023
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that are recognised as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2. LEGAL STATUS OF THE CHARITY
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.
3. INVESTMENT INCOME
All of the charity’s investment income of £1,623 (2022: £864) arises from money held in interest bearing deposit accounts.
5. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
| Adverts in catalogues Trade Stands - show field Craft Marquee and Lifestyle Pavilion (including tabling and electricity) Admission Tenders Sponsorship Entry Fees - Cattle Entry Fees - Sheep Entry Fees - Horses Entry Fees - Poultry Entry Fees – Dog Show Entry Fees - H&H Vintage Car Exhibits Food Hall Income Chairman’s Dinner Income Adverts on Website |
2023 £ 4,215 13,422 5,082 63,524 14,883 22,937 156 1,389 1,913 173 235 229 189 2,185 2,113 - 132,645 |
2022 £ 3,773 10,379 3,875 84,353 13,495 17,350 224 1,049 1,730 77 195 64 300 2,435 1,990 300 |
|---|---|---|
| 141,589 |
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Totnes and District Show Society
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
6. CHARITABLE ACTIVITIES
| Direct show expenditure Sundry expenses Depreciation Support costs (note 7) 7. SUPPORT COSTS Donations Affiliation Fees Chairman’s Dinner Expenses Website and computer expenses Telephone Printing, postage & stationery Secretary's salary and administrative assistance Employer’s Pension Costs Cash handling and card Processing Fees Costs of attending conferences and meetings 8. GOVERNANCE COSTS Accountants’ fees Professional fees 9. TANGIBLE FIXED ASSETS COST At 1 November 2022 Additions At 31 October 2023 DEPRECIATION At 1 November 2022 Charge for year At 31 October 2023 NET BOOK VALUE At 31 October 2023 At 31 October 2022 |
2023 £ 66,105 235 1,920 68,260 45,373 113,633 2023 £ 2,710 175 1,599 2,990 60 2,914 27,165 2,977 4,618 165 45,373 2023 £ 1,920 3,121 5,041 |
2022 £ 53,175 399 2,077 55,651 45,981 101,632 2022 £ 3,250 111 1,469 2,146 160 4,052 25,967 2,284 6,347 195 45,981 2022 £ 1,870 3,439 5,309 Equipment 41,129 639 41,768 23,966 1,920 25,886 15,882 17,163 |
|---|---|---|
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Totnes and District Show Society
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Accrued expenses 12. RESERVES At 1 November 2022 Surplus for the year At 31 October 2023 |
2023 2022 £ £ 235 100 - 2,167 235 2,267 2023 2022 £ £ 385 400 4,584 11,992 4,969 12,392 Unrestricted Fund £ 199,855 15,594 215,449 |
|---|---|
13. TAXATION
The charity’s activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts.
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Totnes and District Show Society
Statement of Financial Activities for the Year Ended 31 October 2023
| Unrestricted 2023 £ Incoming resources Adverts in catalogues 4,215 Trade Stands - show field 13,422 Craft Marquee and Lifestyle Pavilion 5,082 Admission - Main Gate 63,524 Tenders 14,883 Sponsorship 22,937 Entry Fees - Cattle 156 Entry Fees - Sheep 1,389 Entry Fees - Horses 1,913 Entry Fees - Poultry 173 Entry Fees – Dog Show 235 Entry Fees - H&H 229 Vintage Car Exhibits 189 Food Hall Income 2,185 Chairman’s Dinner Income 2,113 Adverts on Website - Gross Bank interest 1,623 Total incoming resources 134,268 Resources expended Direct charitable expenditure Prize Money 6,607 Poultry Rosettes 61 Dog Show rosettes 121 Rosettes 774 Transport for lamb shearing 480 Water Rates 131 Insurance 768 Show office electricity 1,923 Equipment Hire 3,215 Hire of Show Fields, Car Parks and Shed 2,500 Skip Hire 792 Signs 193 Toilet and washbasin hire 3,816 Judges Travelling Expenses 300 Judges/Officials Refreshments 1,868 Advertising 2,073 Equipment repairs and renewals 625 Main Ring and Special Features 5,735 Security and Policing 836 Engraving - Medical Expenses 2,850 Sundry expenses 235 Marquee Hire 21,005 Hire of PA System 5,160 Carried forward 62,068 |
Unrestricted 2022 £ 3,773 10,379 3,875 84,353 13,495 17,350 224 1,049 1,730 77 195 64 300 2,435 1,990 300 864 |
|---|---|
| 142,453 | |
| 6,617 - - 712 324 111 706 1,167 3,839 2,000 900 429 4,330 - 1,655 1,640 351 305 594 20 2,012 399 17,654 4,200 |
|
| 49,965 |
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Totnes and District Show Society
Statement of Financial Activities (cont/d…) for the Year Ended 31 October 2023
| Brought forward Music Stage expenses Barrier Hire Traffic order expenses Depreciation of plant and machinery Other expenditure Donations Affiliation Fees Chairman’s Dinner Expenses Website and computer expenses Telephone Printing, postage & stationery Secretary's salary Employer’s Pensions Costs of attending conferences and meetings Accountancy External gate assistance, cash handling and card processing fees Professional fees Total resources expended Net incoming/(outgoing) resources Total unrestricted funds brought forward 1 November 2022 Total unrestricted funds carried forward 31 October 2023 |
Unrestricted 2023 £ 62,068 1,485 2,571 216 1,920 68,260 2,710 175 1,599 2,990 60 2,914 27,165 2,977 165 1,920 4,618 3,121 50,414 118,674 15,594 199,855 215,449 |
Unrestricted 2022 £ 49,965 1,455 1,988 216 2,077 |
|---|---|---|
| 55,651 | ||
| 3,250 111 1,469 2,146 160 4,052 25,967 2,284 195 1,870 6,347 3,439 |
||
| 51,290 | ||
| 106,941 | ||
| 35,512 164,343 |
||
| 199,855 |
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