Charity rggistration numbor 1151672 CHESHIREAGRICULTURAL SOCIETY CIO ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 CHESHIRE AGRICULTURAL SOCIETY CIO CONTENTS Page TTUStees' reptsrt Statement of trustees. responsibilities Indeptsndent auditor's report 8-11 Statement of fmancial activities 12 Balance sheet 13 Stalemgnl of (ash flows 14 Notes lo Ihe financaal statements .15-26 The followuig pages do not fom part of the statutory accounts Detaikd 1￿me and Expenditure Account CHESHIRE AGRICULTURAL SOCIETY CIO TRUSTEES. REPORT FOR THE YEAR ENDED 31 OCTOBER 2023 The Counc¢l of Members (who are the trustees of Ihe Society for of Chartty Lawl has pleasure in prssent.ng th•rAnnual Rewt and the audlw financial slatements for ￿ year ended 31 Oclober 2D23. The aixounl8 have been prepare￿ in accordance wih the all￿nI￿9 poKaes set oul in note 110 tha accounts and o)mply wr(h the Soclevs Constitution. the Charibes Acl 2011 and "Accounting and Reporling by Charities.. Statement of Recomrnended pr$￿tr applicable lo charities preparing their 8c(x)unls in accordan￿ with Ihe Financial Reporting Stand￿d applicable in the UK and Republic of Ireland (FRS 1021" lss amèndad lor ￿)Unting periods cornmenang frorn 1 January 2016} Referen¢• and admln18trdtlv• Inforniatlon Mttmb￿ Of Coun¢ll Mrs C Bailay J B811 Esq Mlss S Ball J C Bell Esq {re8vJned l Mard) 20231 S Blakeman Esq R Brown Esq J Clarko Esq T Earf Esq A P Ford Esq R Ford Esq R Fryer Esq AG8m8tt Egq JAGamett Esq DLARAgS AGr¢8nway Esq J Hague Esq R Hague Esq FRICS Mrs C Hale Mrs J H8rding W Horton Esq H Hough Esq R Ikin E8q RJohwn Esq AK8y Esq Mfs E M Leake D Leech Esq W E Massey Esq A Millinglon Esq Mrs C NtswAon J NortJLfy Esq Mrs D Nulty Rev J Parry Mrs S Prescott T Rimn*r Eso T Stockd8le Esq A Sutton Esq P Tanner Esq K Thomas E8q R Thom86ffi Esq J TKkle Esq W R Tumer E8q Mrs P ￿de A K Wallace Esq M Wamon Esq S Waltcffl Esq c ￿￿bb E8q S Esq P Whitlow Esq E ￿lItaker Esq S Wlkinson Esq O WIl￿m8 Esq MsJ wo￿1 Miss L Young Honorary Dlrnctors C¢xnmltt J Ball Esq (Joint Chairman) A P Ford Esq (J￿￿t Chairman) D Leed¥ Esq Ch8im8n) K Thomas Esq (Treasurer) S Blakeman Esq Asutton Esq Mrs J Wood Mrs P ￿d& T Rimmr Esq R Thomason Esq J Hag￿ Esq M Watton Esq CHESHIREAGRICULTURAL SOCIETY CIO TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 OCTOBER 2023 Assoclate Directors T Stockdale Esq E ￿￿1ttak8r Esq Show Dlrector R A D8venport Esq Show Offlc8 Mrs G Holden Mts A Hancock Miss K Hof( CharEty number 1151672 Principal address Clay House Fami Flittogate Lane Tab18y Knutsford Cheshire WA16 OHJ Audltors DJH Mitten ClarkeAudit Limited The Glad8S Festival Way Festival Park StOk￿n-Trent staffordshiTe ST15SQ Bankers NatVlÈsl 36 High Street Nantwich CW5 5GA Honorary Llf• Wardon J A Gamett Esq DL FRAgS Honorary Lif? Governor¥ P C Ford Esq. Mrs M C Hollinshead G G Morris Esq. J Hollinshead Honorary Life Yice Presidents P Gallirnore Esq. T Hassall Esq D Roslon Esq. R Cooke Esq V Croxon Esq DL MBA FRAgs, A Morgan Esq Life vice Presidents l Bames Esq, D J Best Esq K Cramp Esq. N Dawes Esq Mrs N Davies, Major W S Dixon TD Mrs L M Ferguson. P Hi¢kson Esq MBE P R Smith Esq. A H Morgan Esq J Wmorgan E¥. MrsA N￿on D Parton Esq FRAgS, W N Richardson Esq Revd Phillip J Robinson, Mrs J B Smith D H Woolley Esq, E G Woolley Esq CHESHIRE AGRICULTURAL SOCIETY CIO TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Oblectlves and activities The objects of the SoGiely 8re'. the encouragement (by the holding of Shows or othe¥wi86) of agrtcullur81 enlèrprfse and U)e agricultural and allied industrEs', th6 promotion and improvement of the breeding, rearing and health of livestock., the improvement of 8gricullur21 produce., the encouragement of the invention or improvement of 8grl¢ullural implamènls,. and thè promotion of agricultural scienc6 and research., to 8dvan¢e the educallon ol the publi¢ in ielation lo th¥ Importance ol food production and its relationship to the local farming o)mmunity and rural economy., and the advancement, encouragement and Safeguarding of the natural envlronnenl. In furth8ranc£ of the oblects the Coundl shall have the power to 8upport local. rural-relaled tharities a8 appropriate. The objectives of those aclNilies for the year, and thè Sticiety's athlevemenls agalnsl Ihom, are dl8cusBed under the hèading Achièvem&nts and Pèrformance, set out below. The principal activity of the Sodoly is lo hold Th& Royal Cheshlre Counly Show, which takes place annually in June. The charity meets ils obJeclive81see above) prfndpally through holding the Show, a¥ l¢llows:_ 81 Genaral appreciation of agricullure,. to put bafore the general public a view ol agrfcullure and C￿untrySId8 activitie8 in a way that knowlodge and appreclaticn of ¢ounlrysido lile can b8 gained by all who allend. bl Display of merchandise and machlnery.. on a commercial ba818 lo attrael dlrect Sales, and Ind5￿cl $81es In terms of advertising lo the audience present. cl Displ8y ol f8rm products 8nd 8nlmals.' on a comp81iliv& basi$ Iheraby enhancing the value of those entries whlch 88cJJre a Charnpionship or hlgh rallng by Ihe ludge. The Show is organised Into sectlon8 Agrf-Bu8lness Cenlre. Catering, Cattle, Cheese & Food, Counlry8id8 Exp8ri&nce Area, Dog Show, Education, Health & Safety, Ll9hl Horsa, Main Ring, Publicity, Poultry. Pigeons. Rabbit8 and Cavies, Rur81 Life, Sheep, Goal Rare Breed, shi￿ Horse, Sponsorship, Trade Stands Traffic & Trophles. Each se¢lSon 18 run by an organislng commltt8e who each ￿pOrt to the Counc51 of the Society. VolunleerB provide a very considerable contribution to the SorAety in that the showground 18btsur forcé ovèr 3 weeks in June eech year is provided voluntarily. The extent of voluntary help does have a valuable effect on cost8 8nd withoul such we would not be able lo operato as a show and to support charitable causes. The Cheshire Agri¢ullur81 Sociely organl8es annually Tha Royal Chèghlre County Show a$ an Incluslve event lo all. The Show in geneTal offers many inforrnal educational opportunities lo the visiting publ¢c, rangin9 from th8 exhibition of livestock, food producl'on and cookery demonstrab'ons through to conservation of the natural nvSronment and damonstrallon of rur81 crafts. Th8 AgricuStural Gentre, launched in 2008, nol onty offers 8 fom)al educallon818xperlanc6 for thè vSglting public but In p8r(i¢ular, (or tha many organlsad school visits that attand Iha Show. W)th regard to ensuriro the Show remains incluswe. 5th001 groups enjoy a gre8tty reduced entr8n¢e ticket whilst a reduTrd entrance ticket is offered to senKJr cslizens, students and dis8bled visitors. In addition. carer5 of dis8bl¢d visitors are given free entry. FurthernTrJre, the Society organi3es a tree return bu8 8ervice from key loc81ion8 in Knul8fr)rd and Northwich to the showground on both day5 of the Show. The Members of Council have pa¢d due regard to guidance issued by the Gharily Comrnission in deadino what activiti6s th4 Sociaty should undertake. CHESHIRE AGRICULTURAL SOCIETY CIO TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Achievemènts and p8rfornianco We staried The Cheshire Agricultural Society CIO'S year with the AGM on the 1st March 2023 held at Mere and Tabley Community Club, this was held in the evening and follow&Y by a buffet and soti81. È elected our new Presidènt and Patronèss for 2023 as b6lov4. The 2023 Pr8sid8nt wasALqn Newton Esq The 2023 Patrtsness was Mrs Patr￿la ]fvharfe The Society's aims and objectwes are linked to The Royal Cheshire County Show. which is USU￿lY held annually in June. The Largest tsvo day Show faci5itated by over 500 dediGqted Volunteers. Cheshire Agricultural Society slarted the year wth the decision to itNest in a new building, this is with the plan lo start to hold other events on the 5howgiound and start of future devdopment to cEate a more sustainable sile wh￿h will with help the reduciion of long-temi costs of the show and start to build a venue lo be able to Offer a wider range of 18alities. The enthusiasm of the competitors on the Nvo sh¢)w days was exceptional wth entrtes in many sections beginning lo rise afler what has been dIff1cU￿ over the last few years in the showlexhibilionl hospitality industry this givtss us the drThie and desire lo continue to put this event on every year. The weather w88 not our side on the Tuesday tnorning. thankfully as th8 day mntinued Ihe sun come to the rescue. Vve have Inrxeasing entries in the ￿ght Horses. Sheep and Goat dasses all expanding lo th8 point they are out growing their 8rea5. Catue exhibitors put on an excellent display. which has become customary, this See￿On be￿MIng more difficult each year wf(h restrictions put on the tnovements due to ongoing issues that are out of their control. The pigs had the luxury of the use of the new building in 2023 and as ever they did not disappoint proving to be a firm favourite with the attending public. wlh the iing sides packed with spectators. The Agri Centre this year had a Robotic Milking Mathine on display ￿ank you to Ldy and in attendan￿ was some of today's Agricultural intluencers Olly Harrison, Tom Pemberton, and Kefvin Fletcher. The Celebiity Chefs proved popular again, our great frÈnd and supporter Jean Christophe Novelli appeared with a surprise appeat8nce of Samig Longthambon on stage. There were other TV ¢hets in attendance Ellis Barr￿. Crag Sherrington supported by successful chets from local popular hotels and restaurants, Brian Mellor, Sean Noon8n Cottons Hotel. Mark Pri￿ Groobarbs. Woody Barfow provided Chef5 fr(Mn his Cheshire Restaurants. The Food The8tre Live and the new]y designed food Ilage seem to be a firm lavourite supported as ever by Rc*berts Bakery. We must thank the enthusiasm of the public battling the weather to attend. their support is what will help us succeed and help tell others what a great day of entertainment we put on offer. Therg We￿ two pa¢ked show rings full of entertainment. The Main Ring. and the country￿de Live Asena both with a full day's programme, wrth the Main Ring finishing with the usual display of Young Farmers Floats 8nd W818r fight. There were displays from NAFAS, W, NFU and the BBRT w¢th an array of Caltle, Pigs and Poultry. educating the public on the traditional breed5 and why we should support them to help them surwve. The poultry tearn had another year where avian flu put a stop lo eXhIb￿ng INe poultry. they continued to put on the largest competition ol eggs in the Country and were there over the days Ic) explain about keeping poultry. This was followed on the second day with a great display of Pigeons, Rabbits, and Cavies. This year for the first time we had events on the Tues(18y evening, live al the show with acts like Odyssey, Katrina Iformedy Katrina & the Waves), Five Slar. Nathan from Brother Beyond. The young falmers had a tLJg-of-war competthon which saw them being filmed pulling a Cornbine Harvgsler which was then posled on social media. thank yw to our Inlluencer Olly and Tom. The enthusiasm we received from all our committed Prinap81 Partners. Sponsors and Members was remarkable and made it feel 811 worthwhile. We look forward to welcorning everyone back to Tabley, Knutsford in 2024 to the Cheshire County Show Ground to the Royal Cheshire County Show. This helped us maintain our aims and objectives, to educate all that is good &tx)ut Cheshire And its Agricullural and Rural Communitles. Fin•n¢ial rèvlèw Details of the results for Ihe year are set OLrt in the annexed Statetnent of Finanaal Activthes. The directors prowse to make no transfer for the year to the Designated Fund, whith 18 alloG8led for di8tn"bubon to variou5 rural bothes tr) be determined by the members. CHESHIRE AGRICULTURAL SOCIETY CIO TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 The ￿)11(¥ of thè Society is to retain SLff•ient resour￿ to cover Ihe annua cost of runnlng Show and thereby meel any potential liabili￿aS in the event of having to abort the event. Income from the SotiÈWs investments has also goo¢J o¢¢8sional deffiuts on the Show in the BaLancE Sheet. Investment Pollcy and Perforniance The Directors Committ& takes a regular overy￿w of the investments (with the Trtrasurerfs report) at each meeting. The directors wll al80 take appro)rlale profasslonal advice on specafK malter8 as and when requirad. The esiablished policy for Che3hire A9ricuttural Sodety investment assets has been to ret81) suffici&nl Ilquidlty in the current and deposit bank 8ccounls lo meet the wular running costs. As a consequence of significant falls In Interest rates a dec4&0n was made pr￿lOuS￿ to tske 8 mLYe adivé $tan¢e on the investments and spkt the methum lo longer term requirements into varhyJ8 managed tranth85 as folbJv*E:_ Directty m8n8ged lunds wrtfolK) with Rathbor Open ended inveslmsnt portftAio with Seven Investment Manageff*nt Discretionary managed fund portrolio wlh NFU Mutual Reduced bvel ol cash deposits, suffiaenl to cover requwem6r)ts for the short terni Ih]u*Jty. Each of Ihesé discxètionary wrtfolios is managed lo a BaLqnced risk profile li.o. between Cautious and Growth). within the Managers definitions Th&8a are monitored regularty by the Director8 lor perfo￿anCe and liouldty. The value ofthe investments lexduding cashl decrea3e(I compared lo lh8 prnwous year eTrJ due to the movement of ￿nancIal markets during 2023. Rathbones remit divtdends back to the s￿l91Y which amountod to £18,810 in tha year. Sevèn Invèslmènl Management ￿taIn irume for irwestment within the fvn¢J. ¢Juring lh* year £500,000 w85 Wlthdrewn from this investment to fvnd cashfiow and capital expenditLWe. The Members of Coundl havè gssessed the mapjf risks to whith the Soc*ty ly exposed, and are satisfied that systems are In pla￿ to mil￿ale exposure lo thè maiof iisks. R58k factor• The Sotièty is engaged in A continuous review PTOCVSS of all risks asso03t￿l with the SC£￿ty,$ acliwtses. The pdrnary risks are recognis￿l as th• hèalth and safety of Ihe publ￿, eX￿￿tors. and animals on and off tho sh0Wgr￿nd during the p￿paratIon, event. and thè taking &)wn ol the Show. The Mernbers ￿n$1dèr th81 tho systems they have in ￿ace to manage risks as have 81ready bean 88cert&ned appear io be ad￿uate in nomal circum5tance$. Plans for ftrturn p¢rlod8 The Soaety has a sound finanrial base Up￿ which to buikl lor the f[rtu￿. K will endeavour to safeguard And grow the assds as indicated and fao'lilale sucres8lul development of the The ROY￿ Cheshire County Shvw. Structure, gov¢m•n¢• and manag8m•nt The Society was founded ￿ 1838 and was registered as 8 tharitsble M)cryrated organisation on 17 April 2013. The So(iety is gaverne(I by tts Constitth"on. The overall res￿￿bIll1Y of the So(ieVs aff31rs 15 vested in a Counal of sixty el￿ted mernbers. All final deck8ion8 are made by the Members of Couritil. Members of Councsl are nomially elected to 5wvé ft)r a thre6 year term wllh one third retiring year by rotation. Any paid-up member 15 entitled lo be nominated for election to Council provided they have o)nsenled t¢ nominab"on. Retiring Members ol Counal are eligible by writt8n nomination for re- 8ledton. The Members of Court¢il are the trust00$ of thg Society for the purposes of charity law. The Members of Council {trvst8esl arè familiar wth Ihe *M)rk of the Soc4ety having partiapated in the Royal Cheshwe County Show over a nurnber of years. New Members of cour￿¢1 are tsmiliarised wth work of the Society by the existing and ¢￿tinUing members. The finantial and general busi￿$ aff8irs of the Scoety are vested thi ￿ Hon¢Nwy Oirector* Committee of 12 ouncil members. Ml d￿)SK)nS ofthis cLJmmitt& sh*1 ￿ wbJ*J to apprordl or ratification by the Coun¢TI of Members. CHESHIRE AGRICULTURAL SOCIETY CIO TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Vlfith the wide ranging inl8r8sls of thè Members ol Counal, il would b8 rèasonable to expect an interaction wlh the individuals and organisatiens they represent. Transaciions are c8Tried out at arm's length and note 17 di5cIos¢s any suth transactions. The trust es, eport Was approved by the Board of Memters Of CoLtncil. MrAP Ford Joint Chaiman Mr J Ball Joint Chwrm Dated: ..L.t..I.￿l..Tr.P.k* CHESHIREAGRICULTURAL SOCIETY CIO STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 OCTOBER 2023 The Members of Council are responsible for preparing Ihg Trusle6s' Report and the accounts in accordance with applicable law and Unfced Kingdom Accounting Standards (United Kingdom Generally knepted A￿untIng Practicè). The iqw applicablé to ehartties in England and Wales requires the Members of Council to prepare accounts for each financial year which give a true and fair view of the stale of affairs of the Society and of the in¢x>tning resources and ap￿[cation ol resources of Ihe Society for thal year. In weparing these a￿unts, the Members of Council orè raquired to: - settrct suitsbla accounting policies and then appty them consistentty., - tsbserve the Metr￿d$ and principles in the Charities SORP., make judgements and estimates that ar8 reasonable and prudent., $t8le whether applicable accounting standards have been followed, subject to any Mat￿lat departures disclosed and explained in the ac(x)unts,' and - prepare the accounts on the going concèm basis unless it is inappropriaie to presume thal the tharity wll continue in Operat￿n. The Members of Counal are responsible for keeping suffiaenl accounting records that distaose with reasonable accuracy at any tirne the finanual p0S￿On of the Society and enable ihem to ensure that the acwunts Comply with the Charities Ad 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Itusl de£d. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. CHESHIRE AGRICULTURAL SOCIETY CIO INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COUNCIL QF CHESHIRE AGRICULTURAL SOCIETY CIO Oplnlon We have audited the financial statements of Cheshiie Agricultural Society CIO (the 'Soaety'l for the year ended 31 Ocaober 2D23 which comprise the staternent of financial activities, Ihe balan￿ sheet, Ihe $18tement of cash flows and notes to the financial statements. including signifivanl accounting PCTrliaes. The finanryal reporbng framework that has been applied in their preparation is applicable law and United Kingdom Aco)unling Stsndards. induding Financial Reporttng Standard 102 The Financial Reporting StsndaAd applicable in the UK and RgpublNG of Ireland (United Kingdom Generally A￿epted Accounting Practice). In our oplnion, the financial statemenl5'. give a true and fair view of the state of the charity's affairs 8$ 8t 31 October 2023 and of its incofflir¥J resources and applicat￿n of resources, for Ihe year then ended., have been properly prep8red in accordan￿ wth United Kingdotn Generally A￿pted Accounling Practice., and have been prepared in accordance with the requirements of the Char￿#SACt 2011. Basls for opinion We conducted our audit in 8¢cordan¢e witt Intemational Standards on Auditlng IUFfj IISAS IUK)) and applicable law. Our responsibilities under those stsrKl8rds a￿ fttrther described in the Auditorfs reso)nsits"lfftAes lor th8 audit ol the financial staternenls section of our report. We are independent of the Society in acmrdance wrth the ethical requirements that are relevant to our audit of the finan￿al statements in the UK. induding the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accoidance wilh these requirements. We believe that the audit eviden(E we have obtained is sufficient and appropriate to provide 8 basis for tsur q)inion. Con¢lusior]8 Trlatjng to golng concern In auditing the financial statements, we have ¢on¢luded that the trustees. use of the going concèm basis of alxounting in the preparation of the fina￿la1 statements IS 8ppropriate. B85ed on tho wobl( we have perfornied, we have not identified any mal8ri81 unc8rtainti&s relating lo events or condit￿nS that, indwidually or co1￿CtiVe￿, may cast signrficanl doubt on the Soeittty's abilty to continue as a goir4J concem for a period of 81 least twelvè months from when the financial statements are aulhorised for issuo. Our responsibilities and the responsibilities of the Members of Council wth respect to going concem are deS￿bed in the relevant sect￿n$ of this report. Other information The other illlomation comprises the infomialion included in the annual retK)rt other than the financial statements and our auditorfs report thereon. The Members of Council are responsible for tre other information u>ntained within the annual report. Our opinion on the financial statements does not cover the other inlotTnation and we do not express any form of assurance conclusion thereon. Our reswnsibility is to read the other infomialion and, in doing so, consider whether the other information 13 materially inconsistent with the finanaal statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify su(* tnaleiial inconsislencies or apparent material Isslaternents, we are required to determine whelher this gwes rise to a material misstatement in the financial statements themselves If. based on the work we have performed, we conclude that there is a material misslatement of this other inft)rm8lion. we ar8 required to report that fact. We have nothing to report in this regard. CHESHIRE AGRICULTURAL SOCIETY CIO INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF COUNCIL OF CHESHIRE AGRICULTURAL SOCIETY CIO Matters on vA)ich we are requir￿ to Mport by exception We have nothing to reFK)rt in respecl of the following matters in relation to which the Ch8r(bès (Accounts and Reports) Regulations 2008 require us to report lo you rf, in our opinion.. tho informabon gnien in the financial slalements is inconsistent in any material respect with (he truslees. report,. or suffiaent aceDunting records have not been kept,. or Ihe finanual statements are not in agreement with thè accoLLnting records,. or we have not received all Ihe inforniation and explanaiions we requiré for our audit. Responsibilltles of Members of Council As explained more fully in the Statement ol Trustees. Responsibilities, the truste6s' 8re responsible for the preparation ol the accounts and ft>r being sallsfied that they give a true and fair view, and for such intemal control as the Members of Council detemiine is necessary lo enable th¢ preparation of accounts that we free from material misstatemenl, whether due lo fraud or error. In preparing the accounts, the Members of Council arg ￿spOnSible for assessing the Socievs ability lo continue as a going concem, disclosing, as applicable, matters related to going concem and using the going cOn￿M basis of acanised on an accrual b8sls as a Ilability is incurred. The co51s of tharilable acbvitl8s include dirtrct and support costs attributed lo The Royal Cheshire County Show. Govemance costs include those costs associated with meeting the (x)nstitutlon81 and statutory r￿UIrementS of the Sor#ety and indude the audit fees and costs linked to the rnanagemenl ofthg Sooely. 15- CHESHIRE AGRICULTURAL SOCIETY CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 OCTOBER 2023 Accounting policies (Continued) 1.6 Tanglble fixed assets Tangible fLxed assets are Initfalty measured at cost. nel ol depreciation and any irnpairment los￿5. Depreaalion is recogntS8d so a5 to write off the cost of assels less their residual values over th￿r useful INe5 on the following bases". Showground Improv8tller Showground Equipm&nt Office Equipment Office Improvements Trophies (￿er the period tsf the lease I0¥ts reducing balance 25'/o straighl line Over Ihe petiod of the le88e The gain or ltsss arising on the disposal of an asset is detemiined as the dilFerence betsveen the sale pmceeds and the carrying value of the asset, and ￿ recognised in the statement of financial adivities. 1.7 Retirement benefit5 Payments lo defined (x)ntribulion retirement benefit sthemes ar8 charged as an expense as they fall due. 1.8 Leases Rentals payable under operating lease5 are charged to income on a str81ghl linè basis ovèr th8 tèrm of thè relevant lease. 1.9 Inve8tment8 Investments are included 8t market value. The market value of listed investments is taken as Ihe stock exchange value al the balance sheet date. Any unrealised gains or losses on investments are taken to the ststemenl of Financial Activities. 1.10 Govgmmontgrants Govemment grants are recognised at the fair value of the asset re￿iVed or tE￿1vable when there is tP850nable assuran(% that the giant conditlOn5 wll be met and the grants will be received. A grant that sperAfies performan￿ conditions is recognised in in¢ome when Ihe performance condibons are met. Where a grant does not spec4.fy performance conditions il is recogni8ed in income when the proceeds are reTrived or re￿]vable. A grant received befor8 the reGognib"on utteria are satisfied is recognised as a lubility. Donatlon8 and legacie$ Unrestricted Unrestsicted funds funds 2023 2022 Donations and gifts 8,158 4.505 16- CHESHIRE AGRICULTURAL SOCIETY CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Other trading activibes Unrestricted Unrèstrictèd funds funds 2023 2022 Farniing and HS2 income Lelting and l¢censing arrangements 81.076 79,177 68,901 74,766 Othef trading athities 1￿,2 143,667 Charitable activttses 2023 2022 Sales within ch8ritsble 8(tsth5 8CO,429 856,794 InveStM￿t incorne 2023 2022 Incorne from Itsted invesbnents- Rathtx)nes Income from listed investments- Oth Profit on sale of shares Interest recwvable 18.810 8,777 22,676 2.796 19.399 8,170 41.732 121 $3,059 69,422 17 CHESHIRE AGRICULTURAL SOCIETY CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Ratslng funds 2023 2022 Trading o)sts'. C05t5 of hirin9 the showground and famiing expendsture 13,548 12.438 Inveslmenl management fees 13,021 16,940 26,589 29,378 18- CHESHIRE AGRICULTURAL SOCIETY CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Charftable activiti¥$ Totsl 2023 Total 2022 Royal Che$hlre County Show Depreuation and impairmtsnt Rent Sundry &xp6nses Computer maintenance Repairs and renewals PrEes Commission on sale of tickets Promolional material Advertising Marketing and design Showground Bxp2nditure Judges and stewards Postage and telephone Catering expenses Travelling expenses Marquee hire Donation5 payable Stewards supper expenditure Subscriptions Affiliation fees Credrt rard charges Bank ¢harge5 Trade Far expenditure 24,200 42,068 7.722 13.101 20.043 61,611 16,695 13,688 43,843 23,545 576,533 10,841 11,101 27,386 1.587 218,466 5.700 2.￿)8 1.795 1.￿9 8,487 6.184 951 19,698 42,357 8,662 14,923 3,091 52,596 17.076 16,018 37.932 20.400 465,876 8,934 12,406 24,179 307 187.930 7.900 3,830 1,072 1,4 11,OfS 3,339 42.561 1,139,214 1.003.357 Share of support costs (see note 8) Share ol govemance costs (see note 81 130.705 27,OS4 130,390 26.206 1,296,983 1,15S,953 John Platt Scholar¥hip Grant funding of activthes 2,CKJO 12.000) 1,298.983 1,157,953 Analysis by fund Unrestrided fvnds 1,298.983 1.157.953 19- CHESHIRE AGRICULTURAL SOCIETY CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 OCTOBER 2023 Supp¢)rt costs Support Governance costs osts 2023 Support Govgmance eosts costs 2022 Slaff costs Office accommodation costs 108,926 12,103 121,029 106,624 11.847 118.471 21,779 21.779 23.766 23,766 Audit fees Accountancy Legal and professional Office stalionery. Postage and telephone 3.200 2.878 4.449 3.2CK) 1.234 3,200 2.878 4,449 3.200 1.234 3.150 3.720 3.658 2,453 1.378 3,150 3.720 3.658 2,453 1,378 130.705 27, 157,769 130.390 26.206 156.596 Analysed be￿een Charitable actNitRs 130.705 27,C64 157.769 130,390 26,206 156.596 Members Of Council None ol the Members of Counal lor any persons connecled with ihem) reTrived any remuneration or benefits from Ihe so￿ety duiing the year for their role as a trustee. 10 Employees Numbèr of èmploy The average monthly numbar of employees during th6 year was". 2023 Numbèr 2022 N￿rn￿r Office and management Employm•nt costs 2023 2022 kges and salaries Social securty costs Other pengcffj costs 111.333 5,327 4,369 109,728 4.023 4.720 121,D29 118.471 There were no empbyees whose annual remuneration was £60.CMJO or more. -20- CHESHIRE AGRICULTURAL SOCIETY CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 11 Net galnslllos6e81 on investments 2023 2022 Revaluation of investments (30,614) 1195,942) 12 T8ngiblè fixgd assots Showground Showgroun Improv8mont8 Equ5pment Office ONI¢è Equlpmont Improvgjngnts Trophi08 Total Cost Al 1 Novernber 2022 Additions 659,144 187,959 285.089 6,035 59,614 1.086 43,784 25,593 62 1,073,224 195,142 At 31 October 2023 847,103 291.124 60,700 43,784 25,655 1,268,366 Depreciation and impairment At 1 November 2022 Depreoation charged in the year 501,027 213,558 59239 43.784 817,608 16,153 7,775 272 24,200 At 31 October 2023 517,180 221,333 59,511 43.784 841,808 Carrying amount Al 31 October 2023 329,923 69,791 1,189 25,655 426.558 Al 31 October 2022 158,117 71.531 375 25,593 255,616 21 CHESHIRE AGRICULTURAL SOCIETY CIO NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 310CTOBER 2023 13 Fixed asset investments Listed investments Cash In portfolio Totsl Cost or valuatlon Al 1 November 2Q22 Additions Valuation changes Disposals 1,682,139 117,129 130,6141 I599,7￿} 17,442 615.473 1.699,581 732,602 130,614) {617.109) 11.216,8721 Al 31 October 2023 1.168.891 15,8C6 1,184.697 Carrylng amount At 31 October 2023 1,168,891 15,8( 1,184.697 At 31 October 2022 1.682,139 17,442 1,699,581 2023 2022 Invesbnents at fair value comprise.. DireGUy invesigd funds portfolio111 Open ended investment company (21 Shares in NWF Group PLC NFU Mulual UK Growth Inveslm6nls 6￿,172 141,266 71.520 265,933 682.480 636.039 98.700 264,920 1.168,891 1,682.139 (l) The portlolio of direcly invested funds {Ralhbonesl is an income fund. The income from the portfo5io for the year was £18.81012022- £19,399). M3nagetllenl charges tsf £6,05512022- £6.5281 were deducted frorn the funds held. The porffolio also held an amount in cash of £10.77412022- £12,410) at the year end. 121 The investment with the open ended investment company {Seven Investment Management) is an accumulation fijnd for which any income received is automatically ieinvested into tho fund. The marragement fegs 8nd setvifje charges ar8 applied directly to th& fund. The fees included in the accounts of £5,95812(r22- £9.40418re based on an approximate calculation of the Soaely's proporb'on of the total ¢*arges 8pplied lo the fund. The portfolK> also held an amount in ￿$h of £3312022- £331 al the year end. 14 Debtors 2023 2022 Amounts falling due within ong year: Trade debtors Other debt￿$ Prepayments and accrued ino)me 350 13,527 17,635 12,804 31.512 12,804 22- CHESHIRE AGRICULTURAL SOCIETY CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 15 Creditor¥: amounts falling due within on• yw 2023 2022 Taxation and socaal seajrity Deferred i￿ome Trade creditor5 Other ¢xedilors Acc￿818 2,965 4,785 27,832 1,443 55.672 9.719 53,639 2,366 29,394 95,118 92.697 1£ Oparating18aso commlbments L¢sso Amounts Tecogn￿ed in profft or loss as an eXper￿e thjring ihe perul in ie4)e(l of r4)erating lease arrangements are a5 follows-. 2023 2022 Minimum lease paJTrents undw oper*"rg leases 67.266 67,921 67266 67,921 Al the reporting dale the So(itity h*1 (MrtstsrKlng commthnents for futu￿ minNnum lease payments under norpcancdlable operating lea8es. fall due a$ fdk)ws". 2023 2022 WithTn one year B8tW8en two and five ye*5 Leases expiring after more Ihan five 190 33,453 1.143.250 22,663 1.092,250 1,114,913 1,176.893 LewJor At the repo￿ThJ date the Sc4iety had contracted with tenants for ts following minimum lease payments.. 2023 2022 thin one year 3.750 CHESHIRE AGRICULTURAL SOCIETY CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 16 Operating lease commitments (Continued) The Society holds a lease for the premises and showground land. Under the agreement there is an annual rent (subject to rent reviews), and a variable rentsl element calculated as 2￿1. of the annual income received by the S(>¢iety from hriNJ the showground when not in use by the Society. The variable rent atnounled lo £10,794 {2022 - £11,(1481 and is included in the minimum lease payments during the period. The variable rent is not induded in the outstsndiro ¢ommilmenls for fLrture minimum lease payments. 17 Rèlatsd party transactlons Transactions with related parties During the year th¢ followng trustees carried OLrt worfo leading up to the Royal Cheshire County ShtrN with regard to the set up of the event". RJ & J Moore IS Blakeman Esql- £7,549 {2022- £7.642} J Gale Esq - £42012022- £850) A Kay Esq- £86612022- £498) R.T. Contracting Servi￿$ IR Thomason Esq)- £528 {2022- £893) A P Ford & Partne[5 IA P Ford Esq)- £12,￿)5 {2022- £13,250) T Earf Esq- £nil12022- £5041 R Ford Esq. £1,18212022- £1.236) C Webb Esq - £246 P022- £ni E ￿lttaker Esq- £1,41912022 £nill ArT)ounts were paKI to Iruslees for showground maintènance relating to other events which were recharged lo the event holders. The amount comprised.. A P Ford & Partners IA P Ford Esql- £1,8(K)12022- £1,320) Amounts were paid to trustees for providing legal and professional fees lo the Society. The amount >mpiised'. KhKf F8iming & Consultsncy (K Thomas Esq)- £1,49912022- £1.2821 Rostons Limrted IT Rimmer Esq) - £nil12022- £1.2871 The outstanding balances with retated parties were 85 foll(yws: A P Ford & Partners (A P Ford Esq) - £58512022- £niLJ 18 Analysis of changes in net funds Tha Soaèty had no dabt during the year. 24- CHESHIRE AGRICULTURAL SOCIETY CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 19 Cash generated from operations 2023 2022 Oefiat for the year 1334.287) (308,885) Adjustments lor.. Investment income recognised in profft or kjss {GaIn￿OsS on disposal of tsrvJible fixed assets Fair value gains and10sses (A) investsnenls Depreaati(￿ and impaiment oftangible frxed assets {53,OS9) (69,4221 4.333 195.942 19,697 30.614 24.200 Movements in w￿kIng ￿pital.. {InGroaseyde¢rease in deblors IDe(xeaseifincrease in ueditors Increaselldecreasel in deferred 118,70 12.$13) 18,62ts 26,171 (28,5241 Cash absorbed by operation¥ (348.799) I142,(￿) CHESHIRE AGRICULTURAL SOCIETY CIO INCOPAE EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2023 2023 2022 INCOME Donattons and le9acles Donats"ons and gifts 8,158 4,505 Charitable activIt￿$ Dlreclshow incom• Metrl)ers subsuiptions Trade stand subscripti￿5 Tick8tsales Trade Stsnd fees Trade stand hire char￿$ Compeb'tion enty fees Credit card charge5 Cats1￿ue sale5 Advertising reoipt$ Sponsofship CateriNJ Mandatory rnalirAI cover Trade Fair income Stamards Supper income Sundry receipts 35,417 380 353,658 173.053 21.403 80,932 2,e57 7,140 1,620 59,458 50,283 4,927 33,501 12,910 406.867 152,405 23.914 70,863 2,440 8,184 2,370 34,947 58,719 3.583 41,4 1.217 3.424 625 8.876 800,429 856.794 othertrading aCt[v￿g Hire of showground and rent received Environmental grants Sale of standir¥J crops HS2 Incotne 79,177 66,117 14,259 700 74.7e6 55.384 12.997 160,253 143,667 InvÈslment Income 53,059 6g,422 TOTAL INCOME 1,02f,B99 1,074388 lof3 CHESHIRE AGRICULTURAL SOCIErY cio INCOME AND EXPENDJfLSRE ACCOLINT FOR THE YEAR ENDED 31 OCTOBER 2023 2023 2022 EXPENDJTURE Ro18ing funds Hire of showground costs Fsrrning costs Investrnent management fees.. Rathbone8 71M NFU Mutual Growth Fund Class C 13,358 190 1Z248 190 6.055 5,958 1.008 6,$28 1,0)8 26,569 29,378 Charltabte activit*8 Direct show costs Sh¢)wground eX￿ndit￿re Prizes Commission on sale of tid(et5 Prornolional material Adverbsing Marketing and design Judges and stewards Catering expenses Trade Fair expenditur8 Marquee hire 876.S33 61,611 16,695 13,688 43,843 23,545 10,841 27,386 951 218,466 465,676 52,596 17,076 16,018 37,932 20,400 8,934 24,179 42,￿1 187,930 933,559 873,302 Office and administration costs Postage and telephone Travelling expenses Office ststionery Computer maintenanc8 Sub8¢riPtion$ Affiliatic￿ fees 12,335 1,588 3,200 13.101 1,7 13.784 307 2.453 14,923 1.072 1,453 33.588 33,992 Property c08t8 Rent Office renL rat8s a￿1 servic8S Repair8 and renewals 42.067 21.779 20,043 42.357 23,766 3,091 83,889 69,214 Wages and other related costs Staffwages and salaries Soaal security costs Staff pension costs orfice setretsrial and administrat￿n 111.333 5.327 4,369 109.728 4,023 4,720 121.029 118,471 Legal. profe$810￿1 and a¢countsn¢yfges Audit fee5 Auditors. f888 for non-audil wc(k Legal and professional 3,200 2,878 4,449 3.150 3,720 10,527 10.528 Expenditure carried fO￿ard 1,269.161 1,134.885 2of3 CHESHIRE AGRICULTURAL SOCIETY CIO INGOME AND EXPENDITURE ACCQUNT FOR THE YEAR ENDED 31 OCTOBER 2023 2023 2022 Eypèndr(uro broughtlomard 1269,161 1.134,885 other c08ts John Platt Stholarship Donations payable Stewards supper Sundry eypenses 2,000 5,700 2,098 12.0001 7.900 3.830 8,662 17.520 18,392 Finance Costs Credit card tharges Bank charges 8,487 6,184 11.019 3.339 14.671 14,358 Depreclatfjon 24.200 19,696 TOTAL EXPENDITURE 1,326￿62 1,187,331 NET IEXPENDITURE)ANCOME 3of3