COMPANY REGISTRATION NUMBER: 08432435 CHARITY REGISTRATION NUMBER: 1152908
Ashby de la Zouch & District Agricultural Society Ltd Company Limited by Guarantee
Unaudited Financial Statements
For the year ended
30 September 2024
PHILIP NASH FCA
Chartered Accountant Johnson, Murkett & Hurst Rawdon House Rawdon Terrace Ashby de la Zouch Leicestershire LE65 2GN
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Financial Statements
Year ended 30 September 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and expenditure | |
| account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
| The following pages do not form part of the financial statements: | |
| Administrative income and expenditure account | Appendix 1 |
| Show income and expenditure account | Appendix 2 |
Page 1
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 September 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 September 2024.
Reference and administrative details
Registered charity name Ashby de la Zouch & District Agricultural Society Ltd Charity registration number 1152908 Company registration number 08432435 Principal office and registered Office 11, 1st Floor, Measham Business Centre office 56 High Street Measham Swadlincote Derbyshire DE12 7HZ The trustees Mr R S Davies Mr S J Wilson Mr M Adams Mr M A Hancock Mr J P Ludlam (Retired 6 December 2023) Mr M P Greenfield Mrs L Livesey Mr J M Crane Miss C L Anderson Miss J E Armson Mr A W Bennion Mr A P Goodwin (Retired 2 October 2023) Ms I E Pollard (Appointed 6 December 2023) Mr G Mansfield (Appointed 23 May 2024) Mrs F Mansfield (Appointed 23 May 2024) Mr T A Milner (Appointed 23 May 2024) Independent examiner P J Nash FCA Johnson, Murkett & Hurst Rawdon House Rawdon Terrace Ashby de la Zouch Leicestershire LE65 2GN
Page 2
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2024
Structure, governance and management
The company was incorporated on 6 March 2013 and became a registered charity on 17 July 2013.
On 1 October 2013 the company took over the assets, liabilities and activities of Ashby de la Zouch & District Agricultural Society, an unincorporated charity, which had, for many years, planned and organised the annual Ashby Show. The company was formed with a view to continuing the activities of the Society, and in particular, the holding of the Show in the future.
The charity's trustees are the company's directors. The minimum number of directors shall be nine, but shall not be subject to any maximum. The selection of trustees is guided by the level and quality of their existing knowledge, skills and experience often gained in their business or professional careers.
The detailed organisation of the Ashby Show is delegated by the Board of Directors to the (1) Cattle & Sheep, (2) Horse, (3) British Farm Produce, Bars & Catering and (4) Ground, Entertainment and Marketing Committees, who shall exercise such powers as shall be delegated to them by the Directors.
Objectives and activities
The objectives of the charity are as follows:
(a) The advancement of agriculture generally by improvement of stock, the holding of exhibitions and such other methods as the company shall from time to time think fit;
(b) The support financially or otherwise of such charitable institution, institutions, purpose or purposes as the company shall from time to time determine.
It is the policy of the company to achieve the charity's objectives by the holding of the annual Ashby Show.
The trustees review the charity's aims, objectives and activities each year. This review looks at what has been achieved during the year, ensuring that the aims, objectives and activities remain focused on the charity's principal purpose. In carrying out these reviews and in all their duties, the trustees have paid full regard to the public benefit guidance issued by the Charity Commission.
Achievements and performance, incorporating financial review
Building on the success of the previous year, the 2024 Show was held on 14th July. This extremely well supported event had the usual entertaining attractions, livestock lines and trade exhibitors, all greatly enjoyed by the visitors. This year, we extended the education tent, promoting and explaining the benefits of UK agriculture to young and old alike.
The Society thanked everyone involved within the organisation who help make Ashby Show such a fantastic event - visitors, exhibitors, members, sponsors, judges, stewards, contractors and all the amazing volunteers.
The transactions for the year are set out on pages 5 to 15 of the financial statements.
Gate receipts fell by 4%, to £99,614, whilst Entry fees increased by 6% to £16,994. Trade Stands and Selling Rights increased by 15% and Donations and Sponsorship increased by £4,833 to £20,478. As a result, the total income from the 2024 Ashby Show increased to £205,375.
Overall, the Show achieved a surplus of £42,550, compared to £47,925 in 2023.
Page 3
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2024
Achievements and performance, incorporating financial review (continued)
Compared to 2023, general administration costs reduced by £1,120 to £48,158, due, in particular, to the savings of not upgrading the Society's website. Investment income remained in line with the prior year at £7,770. Members' subscriptions fell slightly to £9,326. Overall, a surplus from all activities of £11,488 has been achieved.
The value of the Society's investments rose during the year by £29,129.
The surplus accumulated over many years is held in order to secure future activities, to achieve the objectives of the charity detailed above. It is worth mentioning that the company does not have cancellation insurance and so it is with this in mind we hold invested monies to cover should we have a catastrophic failure and have to supplement out the finances for that particular year. In addition, as detailed on note 21 to the financial statements, it is the Trustees' intention to review the level of of support given through the Agricultural Scholarship Scheme, and, where possible, extend the Scholarship programme.
Reserves policy
The trustees' policy is to continue to build up reserves by judicious management of resources to achieve the objectives of the society.
Investment Powers and Policy
The trustees shall manage the business of the charity and exercise those investment powers which they see fit, subject to any restrictions imposed by Company or Charity legislation. The trustees will seek to ensure that the charity's surplus funds are invested to its best advantage. The trustees' policy is to maintain income whilst seeking to preserve the real value of its investments.
Plans for future periods
The trustees will always strive, wherever possible, to improve the quality of the Show, each year, to enhance visitors' enjoyment, endeavouring to realise the potential for further increases in funds raised in future years, in order to fulfil the charity's objectives detailed above. The education tent, promoting knowledge of agricultural practices and benefits, proved to be a huge success, drawing in a large number of visitors. Support was provided by local schools and colleges to whom we would like to to extend our sincere thanks.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mr M Adams Trustee
Page 4
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Ashby de la Zouch & District Agricultural Society Ltd
Year ended 30 September 2024
I report to the trustees on my examination of the financial statements of Ashby de la Zouch & District Agricultural Society Ltd ('the charity') for the year ended 30 September 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
P J Nash FCA Independent Examiner
Johnson, Murkett & Hurst Rawdon House Rawdon Terrace Ashby de la Zouch Leicestershire LE65 2GN
Page 5
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30 September 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations, legacies and grants | 5 | 9,326 | 9,326 | 10,731 |
| Annual show income | 6 | 205,375 | 205,375 | 195,691 |
| Investment income | 7 | 7,770 | 7,770 | 7,451 |
| --------------------------------- | --------------------------------- | --------------------------------- | ||
| Total income | 222,471 | 222,471 | 213,873 | |
| ================================= | ================================= | ================================= | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Annual show costs | 8 | 162,825 | 162,825 | 147,766 |
| Expenditure on charitable activities | 9,10 | 40,755 | 40,755 | 44,530 |
| Other expenditure | 12 | 7,403 | 7,403 | 4,748 |
| --------------------------------- | --------------------------------- | --------------------------------- | ||
| Total expenditure | 210,983 | 210,983 | 197,044 | |
| ================================= | ================================= | ================================= | ||
| Net (gains)/losses on investments | 13 | (22,365) | (22,365) | (27,311) |
| --------------------------------- | --------------------------------- | --------------------------------- | ||
| Net income and net movement in funds | 33,853 | 33,853 | 44,140 | |
| ================================= | ================================= | ================================= | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 339,168 | 339,168 | 295,028 | |
| --------------------------------- | --------------------------------- | --------------------------------- | ||
| Total funds carried forward | 373,021 ================================= |
373,021 ================================= |
339,168 ================================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 15 form part of these financial statements.
Page 6
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Statement of Financial Position
| 30 September | 30 September | 2024 | ||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | |||||
| Note | £ | £ | £ | £ | ||
| Fixed assets | ||||||
| Investments | 16 | 315,966 | 286,837 | |||
| Current assets | ||||||
| Stocks | 17 | 1,350 | – | |||
| Debtors | 18 | 1,293 | 2,244 | |||
| Cash at bank and in hand | 62,362 | 55,876 | ||||
| ---------------------------- | ---------------------------- | |||||
| 65,005 | 58,120 | |||||
| Creditors: amounts falling due within | ||||||
| one year | 19 | 7,950 | 5,789 | |||
| ---------------------------- | ---------------------------- | |||||
| Net current assets | 57,055 | 52,331 | ||||
| --------------------------------- | --------------------------------- | |||||
| Total assets less current liabilities | 373,021 | 339,168 | ||||
| --------------------------------- | --------------------------------- | |||||
| Net assets | 373,021 | 339,168 | ||||
| ================================= | ================================= | |||||
| Funds of the charity | ||||||
| Unrestricted funds | 373,021 | 339,168 | ||||
| --------------------------------- | --------------------------------- | |||||
| Total charity funds | 21 | 373,021 ================================= |
339,168 ================================= |
For the year ending 30 September 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Mr M Adams Trustee
The notes on pages 7 to 15 form part of these financial statements.
Page 7
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office from 7 November 2023 is Office 11, 1st Floor, Measham Business Centre, 56 High Street, Measham, Swadlincote, Derbyshire, DE12 7HZ. Previously, the Registered Office was Johnson Murkett & Hurst, Rawdon House, Rawdon Terrace, Ashby de la Zouch, Leicestershire, LE65 2GN.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investments, which are measured at market value.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's immediate ability to continue.
Investments and investment income
Investments are included in the financial statements at market value. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.
Income is credited to reserves in the period in which it is receivable, or in the case of the Black Rock Charities UK Equity Fund A (formerly Charishare Common Investment Fund Accumulation Shares), in the period in which the dividend is declared and reinvested in the fund.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible fixed assets
Tangible Fixed Assets are not capitalised, but are written off against reserves, in the period in which the expenditure was incurred.
Page 8
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2024
3. Accounting policies (continued)
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of the single designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. There are currently no such funds in existence.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations and legacies is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. This income includes members' subscriptions, which are recognised when received.
-
donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, and trading activities.
-
expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims, including those support costs and costs relating to the governance of the charity.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against the surplus as incurred.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Page 9
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2024
3. Accounting policies (continued)
Investments (continued)
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Limited by guarantee
The liability of the members is limited to a sum not exceeding £10.
5. Donations, legacies and grants
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Members' subscriptions | 9,326 | 9,326 | 9,731 | 9,731 |
| Grants | ||||
| Grants receivable | – | – | 1,000 | 1,000 |
| ------------------------ | ------------------------ | ---------------------------- | ---------------------------- | |
| 9,326 | 9,326 | 10,731 | 10,731 | |
| ======================== | ======================== | ============================ | ============================ |
Page 10
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2024
6. Annual show income
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Trade stands and selling rights | 65,162 | 65,162 | 56,820 | 56,820 | |
| Entry fees | 16,994 | 16,994 | 16,024 | 16,024 | |
| Gate income | 99,614 | 99,614 | 104,270 | 104,270 | |
| Donations and sponsorship | 20,478 | 20,478 | 15,645 | 15,645 | |
| Sale of catalogues and advertising space | 3,127 | 3,127 | 2,932 | 2,932 | |
| --------------------------------- | --------------------------------- | --------------------------------- | --------------------------------- | ||
| 205,375 | 205,375 | 195,691 | 195,691 | ||
| ================================= | ================================= | ================================= | ================================= | ||
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Black Rock Charities dividends received | 7,583 | 7,583 | 7,331 | 7,331 | |
| Other investment income | 187 | 187 | 120 | 120 | |
| ------------------------ | ------------------------ | ------------------------ | ------------------------ | ||
| 7,770 | 7,770 | 7,451 | 7,451 | ||
| ======================== | ======================== | ======================== | ======================== | ||
| 8. | Annual show costs | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Rent of showground | 9,000 | 9,000 | 7,300 | 7,300 | |
| Preparation of ground | 4,443 | 4,443 | 3,923 | 3,923 | |
| Cups and rosettes | 2,867 | 2,867 | 2,057 | 2,057 | |
| Hire of marquee and equipment | 74,560 | 74,560 | 67,590 | 67,590 | |
| Police, gateman, attendants and judges | 26,324 | 26,324 | 21,494 | 21,494 | |
| Lunches, Teas and Refreshments | 10,843 | 10,843 | 10,893 | 10,893 | |
| Insurance | 3,887 | 3,887 | 3,249 | 3,249 | |
| Entertainment | 7,857 | 7,857 | 6,478 | 6,478 | |
| Other printing and sundries | 6,315 | 6,315 | 6,952 | 6,952 | |
| Secretarial assistance for show | – | – | 150 | 150 | |
| Prize money | 10,751 | 10,751 | 11,526 | 11,526 | |
| Catalogue printing costs | 2,900 | 2,900 | 3,275 | 3,275 | |
| Advertising | 1,080 | 1,080 | 2,879 | 2,879 | |
| Purchase of sheep hurdles | 1,998 | 1,998 | – | – | |
| --------------------------------- | --------------------------------- | --------------------------------- | --------------------------------- | ||
| 162,825 | 162,825 | 147,766 | 147,766 | ||
| ================================= | ================================= | ================================= | ================================= | ||
| 9. | Expenditure on charitable activities by | fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Support costs | 40,755 | 40,755 | 44,530 | 44,530 | |
| ============================ | ============================ | ============================ | ============================ |
Page 11
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2024
10. Expenditure on charitable activities by activity type
| Total funds | Total fund | ||
|---|---|---|---|
| Support costs | 2024 | 2023 | |
| £ | £ | £ | |
| Administration and office expenses | 40,755 ============================ |
40,755 ============================ |
44,530 ============================ |
11. Analysis of support costs
| Unrestricted | |||
|---|---|---|---|
| funds | Total 2024 | Total 2023 | |
| £ | £ | £ | |
| Staff costs | 22,389 | 22,389 | 1,550 |
| Office rent | 4,225 | 4,225 | – |
| Outsourced secretarial costs | – | – | 17,663 |
| Accountancy fees | 2,604 | 2,604 | 1,350 |
| Copier lease | 857 | 857 | 887 |
| Computer expenses incl. website maintenance | 3,613 | 3,613 | 16,049 |
| Telephone and broadband | 1,215 | 1,215 | 1,954 |
| Stamps, stationery and sundries | 1,758 | 1,758 | 2,221 |
| Bank charges | 3,389 | 3,389 | 2,322 |
| Training and conferences | 312 | 312 | 120 |
| Miscellaneous expenses | 393 | 393 | 414 |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| 40,755 | 40,755 | 44,530 | |
| ============================ | ============================ | ============================ |
12. Other expenditure
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Donations | – | – | 100 | 100 |
| Subscriptions | 2,886 | 2,886 | 2,136 | 2,136 |
| Interest on late payment of PAYE | 10 | 10 | – | – |
| Scholarship Grant | 3,500 | 3,500 | 1,500 | 1,500 |
| Investment Manager's fees | 1,007 | 1,007 | 1,012 | 1,012 |
| ------------------------ | ------------------------ | ------------------------ | ------------------------ | |
| 7,403 | 7,403 | 4,748 | 4,748 | |
| ======================== | ======================== | ======================== | ======================== | |
| Net (gains)/losses on investments | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Realised gains/(losses) on investments | – | – | 872 | 872 |
| Unrealised gains/(losses) on investments | 22,365 | 22,365 | 26,439 | 26,439 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 22,365 | 22,365 | 27,311 | 27,311 | |
| ============================ | ============================ | ============================ | ============================ |
13. Net (gains)/losses on investments
Page 12
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2024
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 20,483 | – |
| Employer contributions to pension plans | 357 | – |
| ---------------------------- | -------------- | |
| 20,840 ============================ |
– ============== |
The average head count of employees during the year was 1 (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
15. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity were received by any of the trustees.
16. Investments
| Listed | |
|---|---|
| investments | |
| £ | |
| Market Value | |
| At 1 October 2023 | 286,837 |
| Acquisitions at cost | 6,763 |
| Realised and unrealised gains/(losses) | 22,366 |
| --------------------------------- | |
| At 30 September 2024 | 315,966 |
| ================================= | |
| Carrying amount | |
| At 30 September 2024 | 315,966 |
| ================================= | |
| At 30 September 2023 | 286,837 ================================= |
All investments shown above are held at valuation.
Investments in Black Rock Charities UK Equity Fund A (formerly Charishare Common Investment Fund Accumulation Shares) and Seven Investment Management portfolio are held by the charity. Valuations are provided annually by the charity's financial advisors. The historical cost of these investments as at 30 September 2024 was £209,423 (2023 £201,847).
17. Stocks
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Stock of Past President's medals | 1,350 ======================== |
– ============== |
Page 13
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2024
18. Debtors
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Prepayments and accrued income | 1,293 | 1,244 |
| Other debtors | – | 1,000 |
| ------------------------ | ------------------------ | |
| 1,293 | 2,244 | |
| ======================== | ======================== | |
| Creditors: amounts falling due within one year | ||
| 2024 | 2023 | |
| £ | £ | |
| Accruals and deferred income | 7,728 | 5,622 |
| Social security and other taxes | 169 | 167 |
| Other creditors | 53 | – |
| ------------------------ | ------------------------ | |
| 7,950 | 5,789 | |
| ======================== | ======================== |
19. Creditors: amounts falling due within one year
20. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £357 (2023: £Nil).
Page 14
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2024
21. Analysis of charitable funds
Unrestricted funds
| At 30 | ||||||
|---|---|---|---|---|---|---|
| At 1 October | Gains and | September | ||||
| 2023 | Income | Expenditure | Transfers | losses | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| General Fund | – | 222,471 | (207,483) | (37,353) | 22,365 | – |
| Main Designated | ||||||
| Fund | 339,168 | – | – | 33,853 | – | 373,021 |
| Agricultural | ||||||
| Scholarship Fund | – | – | (3,500) | 3,500 | – | – |
| --------------------------------- | --------------------------------- | --------------------------------- | ---------------------------- | ---------------------------- | --------------------------------- | |
| 339,168 | 222,471 | (210,983) | – | 22,365 | 373,021 | |
| ================================= | ================================= | ================================= | ============================ | ============================ | ================================= | |
| At 30 | ||||||
| At 1 October | Gains and | September | ||||
| 2022 | Income | Expenditure | Transfers | losses | 2023 | |
| £ | £ | £ | £ | £ | £ | |
| General Fund | – | 213,873 | (195,544) | (45,640) | 27,311 | – |
| Main Designated | ||||||
| Fund | 295,028 | – | – | 44,140 | – | 339,168 |
| Agricultural | ||||||
| Scholarship Fund | – | – | (1,500) | 1,500 | – | – |
| --------------------------------- | --------------------------------- | --------------------------------- | ---------------------------- | ---------------------------- | --------------------------------- | |
| 295,028 | 213,873 | (197,044) | – | 27,311 | 339,168 | |
| ================================= | ================================= | ================================= | ============================ | ============================ | ================================= |
The charity holds the Annual Ashby Show to raise funds to achieve its stated objects, being the advancement of agriculture, generally, and the support of other charitable institutions, as described more fully in the Trustees' Annual report. The Trustees designate the funds thus raised, after the deduction of the expenses of administering the Society, to fulfill these objectives. During the year, £3,500 was designated by the trustees to an agricultural scholarship award scheme. Grants are offered to to qualifying students in their second year at college studying an agricultural related course. The number of grants in future years will be determined by the Trustees after reviewing the company's financial results.
Page 15
Ashby de la Zouch & District Agricultural Society Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2024
22. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Investments | 315,966 | 315,966 |
| Current assets | 65,005 | 65,005 |
| Creditors less than 1 year | (7,950) | (7,950) |
| --------------------------------- | --------------------------------- | |
| Net assets | 373,021 | 373,021 |
| ================================= | ================================= | |
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Investments | 286,837 | 286,837 |
| Current assets | 58,120 | 58,120 |
| Creditors less than 1 year | (5,789) | (5,789) |
| --------------------------------- | --------------------------------- | |
| Net assets | 339,168 ================================= |
339,168 ================================= |
23. Related parties
The charity is controlled by the charity's trustees who are the company's directors.
There were no material transactions with related parties during the year.