| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 5 |
| Report ofthe Independent Auditors |
6 | to | 7 |
| Statement ofFinancial Activities | |||
| Balance Sheet | 9 | to | 11 |
| Cash Flow Statement | 12 | ||
| Notes to the Cash Flotv Statement | 13 | ||
| Notes to the Financial Statements | 14 | to | 25 |
| for the | Year Ended 31October | 2020 | |||
|---|---|---|---|---|---|
| 31.10.20 | 31.10.19 | ||||
| Unrestricted | Total | ||||
| fund | funds | ||||
| Notes | |||||
| INCOME AND ENDOWMENTS | FROM | ||||
| Charitable activities |
|||||
| Annual Agricultural Show |
73,551 | 775,379 | |||
| Other trading activities |
152,211 | 221,965 | |||
| Investment income |
74,856 | 72,547 | |||
| Total | 300,618 | 1,069,891 | |||
| EXPENDITURE ON | |||||
| Raising funds | 185,390 | 281,043 | |||
| Charitable activities |
|||||
| Annual Agricultural Show |
166,074 | 835,647 | |||
| Total | 351,464 | 1,116,690 | |||
| Net gains on investments | 78,500 | ||||
| NET INCOME/(EXPENDITURE) | (50,846) | 31,701 | |||
| Other recognised gains/(losses) Gains,'(losses) on revaluation offixed assets |
~63,265) | ||||
| Net movement in funds |
(50,846) | (31,564) | |||
| RECONCILIATION OF FUNDS |
|||||
| Total funds brought fomvard |
3,823,365 | 3,854,929 | |||
| TOTAL FUNDS CARRIED | FORWARD | 3,772,519 | 3,823,365 |
| Consolidated | Balance Sheet | |||||
|---|---|---|---|---|---|---|
| 31October 2020 | ||||||
| 31.10,20 | 31.10.19 | |||||
| Unrestricted | Total | |||||
| fund | funds | |||||
| Notes | f | |||||
| FIXED | ASSETS | |||||
| Tangible | assets | 12 | 2,854,152 | 2,875,288 | ||
| Investment property |
13 | 1,021,300 | 1,021,300 | |||
| 3,875,452 | 3,896,588 | |||||
| CURRENT ASSETS | ||||||
| Stocks | 14 | 12,939 | 14,200 | |||
| Debtors | 15 | 123,532 | 102,672 | |||
| Cash at | bank and in hand | 28,391 | 65,526 | |||
| 164,862 | 182,398 | |||||
| CREDITORS | ||||||
| Amounts | falling due within | one year | 16 | (205,389) | (252,883) | |
| NET CURRENT ASSETS | ~40,527) | (70,485) | ||||
| TOTAL | ASSETSLESSCURRENT | |||||
| LIABILITIES | 3,834,925 | 3,826,103 | ||||
| CREDITORS | ||||||
| Amounts | falling due after more than one year | 17 | (62,406) | (2,738) | ||
| NET ASSETS | ~3,772 519 | 3,823,365 | ||||
| FUNDS | 20 | |||||
| Unrestricted funds |
3,772,519 | 3,823,365 | ||||
| TOTALFUNDS | 3,772,519 | 3,823,365 |
| Charity Balance Sheet | ||||
|---|---|---|---|---|
| 31October 2020 | ||||
| 31.10.20 | 31.10.19 | |||
| Unrestricted | Total | |||
| fund | funds | |||
| FIXED | ASSETS | |||
| Tangible | assets | 2,846,684 | 2,866,502 | |
| investment property |
1,021,300 | 1,021,300 | ||
| 3,867,984 | 3,887,802 | |||
| CURRENT ASSETS | ||||
| Stocks | 9,678 | 10,650 | ||
| Debtors | 140,177 | 114,461 | ||
| Cash at | bank and in hand | 4,305 | 51,161 | |
| 154,160 | 176,272 | |||
| CREDITORS | ||||
| Amounts | faging due within one year | (197,827) | (239,661) | |
| NKT CURRENT ASSETS | ~43,667) | ~63,389) | ||
| TOTAL | ASSETSLESSCURRENT | |||
| LIABILITIES | 3,824,317 | 3,824,413 | ||
| CREDITORS | ||||
| Amounts | falling due atter more than one year | (45,000) | (2,738) | |
| NET ASSETS | 3,779,317 | 3,821,675 | ||
| FUNDS | ||||
| Unrestricted funds |
~3779,317 | 3,821 675 | ||
| TOTAL | FUNDS | 3,779317 | 3,821,675 |
| for the Year Ended | 31October 2020 | |||||
|---|---|---|---|---|---|---|
| 31.10.20 | 31.10.19 | |||||
| Notes | ||||||
| Cash flows from operating | activities | |||||
| Cash generated from operations |
(99,466) | (9,572) | ||||
| Interest paid | (56) | |||||
| Interest element ofhire purchase payments |
||||||
| paid | ~194) | |||||
| Net cash used in operating | activities | (99,660) | ~9,628) | |||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed |
assets | (2,550) | (18,140) | |||
| Interest received | 11 | |||||
| Net cash used in investing | activities | ~2,550) | (18,129) | |||
| Cash tlows from financing | activities | |||||
| New loans in year |
69,340 | |||||
| Capital repayments in year |
~4,265 | 3,874 | ||||
| Net cash provided by/(used |
in) financing | activities | 65,075 | ~3,874) | ||
| Change in cash and cash | equivalents | in | ||||
| the reporting period |
(37,135) | (31,631) | ||||
| Cash and cash equivalents | at the | |||||
| beginning ofthe reporting |
period | 65,526 | 97,157 | |||
| Cash and cash equivalents | at the end | of | ||||
| the reporting period |
28,391 | 65,526 |
| 31.10.20 | 31.10.19 | ||||||
|---|---|---|---|---|---|---|---|
| f | |||||||
| Net (expenditure)/income Statement ofFinancial Adjustments for: |
for the reporting Activities) |
period (as per the | (50,846) | 31,701 | |||
| Depreciation charges |
23,685 | 26,555 | |||||
| Losses on investments | (78,500) | ||||||
| Interest received | (11) | ||||||
| Interest paid | 56 | ||||||
| Interest element ofhire | purchase | and finance | lease rental payments | 194 | |||
| Decrease in stocks | 1,261 | 660 | |||||
| Increase in debtors | (20,860) | (28,320) | |||||
| (Decrease)/increase in |
creditors | ~52,900 | 38287 | ||||
| Net cash used in operations | ~99,466) | ~9,572) | |||||
| ANALYSIS OF CHANGES IN NET FUNDS/(DEBT) | |||||||
| At 1.11.19 | Cash flow | At 31.10.20 | |||||
| Net cash | |||||||
| Cash at bank and in hand | 65,526 | ~37,135 | 28,391 | ||||
| ~65 526 | ~37,135 | 28,391 | |||||
| Debt | |||||||
| Finance leases | (7,197) | 4,265 | (2,932) | ||||
| Debts falling due within Debts falling due after |
1 year 1 year |
(6,934) ~62,406 |
(6,934) ~62,406 |
||||
| ~65,075 | 72 272 | ||||||
| Total | 58,329 | (1~02210 | 43,881 |
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.10.20 | 31.10.19 | |
| Rental Income & Service Charge | 84,082 | 81,367 |
| Other Activities | 27,654 | 63,235 |
| Government Covid Grants |
21,332 | |
| Subsidiary Trading Activity |
19,143 | 77,363 |
| 152,211 | 221,965 | |
| INVESTMENT INCOME | ||
| 31.10.20 | 31.10.19 | |
| Rents received | 74,856 | 72,536 |
| Deposit account interest | ll | |
| 74,856 | 72,547 |
| 4. | INCOME F | ROM | CHAR | ITABLE ACTIVITIES | ||||
|---|---|---|---|---|---|---|---|---|
| 31.10.20 | 31.10.19 | |||||||
| Annual | ||||||||
| Agricultural | Total | |||||||
| Show | activities | |||||||
| Show Income | 32,214 | 775,379 | ||||||
| Government | Covid | Grants | 41,337 | |||||
| 73,551 | 775,379 | |||||||
| Grants received, included | in the above, are as follows: | |||||||
| 31.10.20 | 31.10.19 | |||||||
| f | 6 | |||||||
| 5. | RAISING FUNDS | |||||||
| Other trading | activities | |||||||
| 31.10.20 | 31.10.19 | |||||||
| f | f | |||||||
| Staffcosts | 46,871 | 76,124 | ||||||
| Sundries | 664 | 7 | ||||||
| Bank Charges | 1,274 | 2,320 | ||||||
| Premises Expenses | 65,271 | 83,237 | ||||||
| Administrative | expenses | 20,642 | 18,400 | |||||
| Maintenance | Costs | 11,270 | 25,770 | |||||
| Other Direct | Costs | 863 | 7,859 | |||||
| Subsidiary Trading |
Expenses | 14,139 | 45,368 | |||||
| Professional | fees | 8,069 | ||||||
| Accountancy | fees | 1,092 | 1,330 | |||||
| Bad Debt | 11,991 | |||||||
| Depreciation | 11,184 | 12,503 | ||||||
| Interest payable and |
similar charges | 129 | 56 | |||||
| 185,390 | 281,043 | |||||||
| 6. | CHARITABLF. ACTIVITIES COSTS | |||||||
| Support | ||||||||
| Direct | costs (see | |||||||
| Costs | note 7) | Totals | ||||||
| Annual Agricultural |
Show | ~130914 | 35,160 | 166,074 |
| SUPPORT COSTS | |||||
|---|---|---|---|---|---|
| Governance | |||||
| Management | cost's | Totals | |||
| Annual Agricultural Show |
26,648 | 8,512 | 35,160 | ||
| NET INCOME/(EXPENDITURE) | |||||
| Net income/(expenditure) | is stated after charging/(crediting): | ||||
| 31.10.20 | 31.10.19 | ||||
| f | |||||
| Auditors' remuneration |
2,217 | 2,260 | |||
| Auditors' remuneration |
for non audit | work | 157 | ||
| Other non-audit services |
2,024 | 3,318 | |||
| Depreciation —owned assets | 21,800 | 24,459 | |||
| Depreciation —assets on | hire purchase | contracts and finance leases | 1,886 | 2,096 |
| REMUNERATION | RECEIV | ED | BYK | EYMANAGEMENT | PERSONNEL | ||
| 31.10.20 | 31.10.19 | ||||||
| Wages and salaries | 140,186 | 250,876 | |||||
| Social security costs | 11 884 | 13994 | |||||
| 152,070 | 264,870 | ||||||
| The average number | ofemployees | during | the year was as follows: | ||||
| 31.10.20 | 31.10.19 | ||||||
| Average number of | temporary | staff for August | Nil | 9 | |||
| Monthly staff | 5 | 8 |
| COMPARATIVES FOR T | HK ST | ATEMENT OF FINANCIAL AC | TIVITIES |
|---|---|---|---|
| Unrestricted | |||
| fund | |||
| INCOME AND ENDOWMENTS | FROM | ||
| Charitable activities |
|||
| Annual Agricultural Show |
775,379 | ||
| Other trading activities | 221,965 | ||
| Investment income |
72,547 | ||
| Total | 1,069,891 | ||
| EXPENDITURE ON | |||
| Raising funds | 281,043 | ||
| Charitable activities |
|||
| Annual Agricultural Show |
835,647 | ||
| Total | 1,116,690 | ||
| Net gains on investments | 78,500 | ||
| NET INCOME | 31,701 | ||
| Other recognised gains/(losses) Gains/(losses) on revaluation offixed assets |
~63,265) | ||
| Net movement in funds |
(31,564) | ||
| RECONCILIATION OF FUNDS |
|||
| Total funds brought fomvard |
3,854,929 | ||
| TOTAL FUNDS CARRIED | FORWARD | 3,823,365 |
| TANGIBLE FIXED ASSETS | |||
|---|---|---|---|
| Freehold | Plant and | ||
| property f |
machinery f |
Tractors f |
|
| COST | |||
| At 1 November 2019 |
2,641,451 | 309,174 | 5,519 |
| Additions | 2,550 | ||
| At 31 October 2020 | 2,644,001 | 309,174 | 5,519 |
| DEPRECIATION | |||
| At 1 November 2019 |
113,364 | 2,066 | |
| Charge for year | 19,444 | 346 | |
| At 31 October 2020 | 132,808 | 2,412 | |
| NET BOOK VALUE | |||
| At 31 October 2020 | 2,644,001 | 176,366 | 3,107 |
| At 31 October 2019 | 2,641,451 | 195,810 | 3,453 |
| PAS | |||
| Motor | Promotions | ||
| vehicles | Plant | Totals | |
| COST | |||
| At 1 November 2019 |
38,249 | 13,476 | 3,007,869 |
| Additions | 2,550 | ||
| At 31 October 2020 | 38,249 | 13,476 | 3,010,419 |
| DEPRECIATION | |||
| At 1 November 2019 |
12,461 | 4,690 | 132,581 |
| Charge for year | 2,578 | 1 318 | 23,686 |
| At 31 October 2020 | 15,039 | 6,008 | 156,267 |
| NET BOOK VALUE | |||
| At 31October 2020 | 23,210 | 7,468 | 2,854,152 |
| At 31 October 2019 | 25,788 | 8 786 | 2,875,288 |
| Motor | ||
|---|---|---|
| vehicles | ||
| COST | ||
| At 1 November 2019and 31 October 2020 |
28,750 | |
| DEPRECIATION | ||
| At 1 November 2019 |
9,888 | |
| Charge for year | 1,886 | |
| At 31 October 2020 | 11 774 | |
| NET BOOK VALUE | ||
| At 31 October 2020 | 16,976 | |
| At 31 October 2019 | 18,862 | |
| 13. | INVESTMENT PROPERTY | |
| FAIR VALUE | ||
| At 1 November 2019 |
||
| and 31 October 2020 | 1,021,300 | |
| NET BOOK VALUF. | ||
| At 31October 2020 | 1,021,300 | |
| At 31October 2019 | 1,021,300 |
| 14. | STOCKS | |||||
|---|---|---|---|---|---|---|
| Charity | Charity | Group | Group | |||
| 31.10.20 | 31.10.19 | 31.10.20 | 31.10.19 | |||
| f | ||||||
| Stocks | 9,678 | 10,650 | 12,939 | 14,200 | ||
| 15. | DEBTORS:AMOUNTS FALLING DUK WITHIN ONK | YEAR | ||||
| Charity | Charity | Group | Group | |||
| 31.10.20 | 31.10.19 | 31.10.20 | 31.10.19 | |||
| 6 | ||||||
| Trade debtors | 111,678 | 81,926 | 112,491 | 88,714 | ||
| Other debtors | 4,871 | 8,359 | 4,871 | 8,359 | ||
| PAS Promotions | Inter co a/c | 17,458 | 18,577 | |||
| Prepayments | 6,170 | 5,599 | ~6170 | 5,599 | ||
| 140,177 | 114,461 | 123.532 | 102,672 |
| 16. | CREDITORS: | AMOUN | T | S | FALLING DU | E WITH | IN ONK YE | AR | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Charity | Charity | Group | Group | |||||||
| 31.10.20 | 31.10.19 | 31.10.20 | 31.10.19 | |||||||
| f | f | |||||||||
| Bank loans and | overdrails | (see note 18) | 5,000 | 6,934 | ||||||
| Hire purchase (see note 19) |
2,932 | 4,459 | 2,932 | 4,459 | ||||||
| Trade creditors | 26,205 | 118,034 | 27,238 | 122,048 | ||||||
| Social security | and other | taxes | 15,728 | 5,134 | 15,728 | 5,134 | ||||
| VAT | 52,285 | 69,539 | 52,285 | 69,539 | ||||||
| Other creditors | 12,592 | 2,345 | 12,592 | 2,345 | ||||||
| Accrued expenses | 16,460 | 23,876 | 21,055 | 33,084 | ||||||
| Accrued Income | 66,625 | 16,274 | 66,625 | 16,274 | ||||||
| 197827 | 239,661 | 205,389 | 252,883 | |||||||
| 17. | CREDITORS: | AMOUNTS | FALLING DUE AFTER MORE THAN ONE | YEAR | ||||||
| Charity | Charity | Group | Group | |||||||
| 31.10.20 | 31.10.19 | 31.10.20 | 31.10.19 | |||||||
| Bank loans (see note 18) | 45,000 | 62,406 | ||||||||
| Hire purchase (see note 19) |
2,738 | 2,738 | ||||||||
| 45,000 | 2,738 | 62,406 | ~2738 | |||||||
| 18. | LOANS | |||||||||
| An analysis ofthe maturity | ofloans is given | below: | ||||||||
| 31.10.20 | 31.10.19 | |||||||||
| Amounts falling |
due within | one year on demand: | ||||||||
| Bank loans | 6,934 | |||||||||
| Amounts falling |
between | one | and two years: | |||||||
| Bank loans - 1-2years | 6,934 | |||||||||
| Amounts falling |
due between | two and five years: | ||||||||
| Bank loans - 2-5 years |
20,802 | |||||||||
| Amounts falling |
due in more than five years: | |||||||||
| Repayable by instalments: |
||||||||||
| Bank loans more 5 yr by instal | 34,670 | |||||||||
| 19. | LEASING AGRKKMKNTS | |||||||||
| Minimum lease |
payments | under hire purchase | fall due | as follows: | ||||||
| 31.10.20 | 31.10.19 | |||||||||
| f | ||||||||||
| Net obligations | repayable: | |||||||||
| Within one year | 2,932 | 4,459 | ||||||||
| Between one and five years | 2,738 | |||||||||
| 2,932 | 7,197 |
| MOVEM | ENT | IN FUNDS | ||||
|---|---|---|---|---|---|---|
| Net | ||||||
| At | movement | At | ||||
| 1.11.19 | tn funds | 31.10.20 | ||||
| Unrestricted | funds | |||||
| General | fund | 3,823,365 | (50,846) | 3,772,519 | ||
| TOTAL | FUNDS | 3,823,365 | ~50,846) | 3,772,519 | ||
| Net mo; | ement | in funds, included | in the above are as folloivs: | |||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| f | ||||||
| Unrestricted | funds | |||||
| General | fund | 300,618 | (351,464) | (50,846) | ||
| TOTAL | FUNDS | 300,618 | (351,464) | ~50,846) |
| Net | |||||||
|---|---|---|---|---|---|---|---|
| At | movement | At | |||||
| 1.11.18 | in funds | 31.10.19 | |||||
| Unrestricted | funds | ||||||
| General | fund | 3,854,929 | (31,564) | 3,823,365 | |||
| TOTAL | FUNDS | ~3854,929 | ~31,564) | 3,823,365 | |||
| Comparative | net movement | in funds, included | in the above are as folloivs: | ||||
| Incoming | Resources | Gains and | Movement | ||||
| resources | expended | losses | in funds | ||||
| Unrestricted | funds | ||||||
| General | fund | 1,069,891 | (1,116,690) | 15,235 | (31,564) | ||
| TOTAL | FUNDS | 1,069,891 | ~I, I I6,690) | 15,235 | ~31,564) |
| Net | |||||
|---|---|---|---|---|---|
| At | movement | At | |||
| 1.11.18 | in funds | 31.10.20 | |||
| I | f. | f | |||
| Unrestricted | funds | ||||
| General | fund | 3,854,929 | (82,410) | 3,772,519 | |
| TOTAL | FUNDS | 3,854,929 | ~82,410) | 3,772,519 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||
| f | ||||||
| Unrestricted | funds | |||||
| General | fund | 1,370,509 | (1,468,154) | 15,235 | (82,410) | |
| TOTAL | FUNDS | 1,370,509 | (1 468,154) | 15,235 | ~82,4 10) |
| Profit and Loss | Account | Year ended | Year ended |
|---|---|---|---|
| 31.10.20 | 31.10.19 | ||
| f | |||
| Turnover | 19,143 | 77,363 | |
| Cost ofSales | 5,555 | 25,891 | |
| Gross Profit | 13,588 | 51,472 | |
| Administrative Expenses Operating Profit (Loss) before tax Tax on loss |
(8,489) 22,077 |
(581) ~627 62 073 |
|
| Profit (Loss) for | the financial year | 8,489 | 46 |
| Balance Sheet | Year ended | Year ended | |
| 31.10.20 | 31.10.19 | ||
| Tangible Fixed Assets | 7,467 | 8,785 | |
| Stocks | 3,261 | 3,550 | |
| Debtors | 812 | 6,788 | |
| Cash at bank in hand | 24 086 | 14,365 | |
| Creditors due within one year |
(25,019) | (31,797) | |
| Provisions for liabilities |
|||
| Total Assets less | Current Liabilties | 10,607 | 1,691 |
| Liabilities due after one year |
(17,406) | ||
| Net (Liabilities) | / Assets | 6,799 | 1,691 |
| CAPITAL AND | RESERVES | ||
| Called up share capital Retained earnings |
2 ~6.807 |
2 1,689 |
|
| 6,799 | 1,691 |