2021-10-31-accounts - Pembrokeshire Agricultural Society Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page
Report ofthe Trustees		I	to	6
Report ofthe Independent Auditors		7	to	8
Statement of Financial	Activities
Balance Sheet		10	to	12
Cash Flow Statement			13
Notes to the Cash Flow Statement			14
Notes to the Financial	Statements	15	to	25
Detailed Statement of	Financial Activities	26	to	27

		for t	he Year Ended 31Octobe	r 2021
				31,10.21	31.10.20
				Unrestricted	Total
				fund	funds
			Notes
INCOME AND ENDOWMENTS		FROM
Charitable activities
Annual Agricultural	Show			134,939	73,551
Other trading activities				141,916	152,211
Investment income				75,484	74,856
Total				352,339	300,618
EXPENDITURE ON
Raising funds				129,593	185,390
Charitable activities
Annual Agricultural	Show			90,282	166,074
Edates Accounts				2,629
Total				222,504	351,464
NET INCOME/(EXPENDITURE)				129,835	(50,846)
RECONCILIATION	OF FUNDS
Total funds brought	forward			3,772,519	3,823,365
TOTAL FUNDS CARRIED FORWARD				3,902,354	3,772,519

Pembro	keshire Agric	ultural Society Ltd
	Consolidated	Balance Sheet
	31 October 2021
			31.10.21	31.10.20
			Unrestricted	Total
			fund	funds
	Notes
FIXEDASSETS
Tangible assets Investment property	12 13		2,838,113 ~1022,650	2,854,152 ~1,021 300
			3,860,763	3,875,452
CURRENT ASSETS
Stocks Debtors Cash at bank and in hand	14 15		11,708 2!5,971 ~53690	12,939 123,532 28,391
			281,369	164,862
CREDITORS
Amounts falling due ivithin one year	16		(180,084)	(205,389)
NET CURRENT ASSETS			101285	~40 527)
TOTAL ASSETS LESSCURRENT
LIABILITIES			3.962,048	3,834,925
CRLDITORS
Amounts falling due aher more thon nne year	17		(59,694)	(62,406)
NFT ASSETS			~3.902354	3,772,519
FUNDS	20
Unrestricted fiinds			~3902,354	3.772,519
TOTAL FUNDS			3,902,354	~3,772 519

	31.10.21	31.10.20
	Unrestricted	Total
	fund	funds
FIXEDASSETS
Tangible assets Investment property	2,832,294 1,022,650	2,846,684 1.021 300
	3,854,944	3,867,984
CURRENT ASSETS
Stocks Debtors Cash at bank and in hand	8,857 232,788 ~25 420	9,678 140,177 4 305
	267,065	154,160
CREDITORS
Amounts falling due within one year	(166,330)	(197,827)
NET CURRENT ASSETS	100,735	~43 667)
TOTAL ASSETSLESSCURRENT
LIABILITIES	3,955,679	3,824,317
CREDITORS
Amounts falling due after more than one year	(43,057)	(45,000)
NET ASSETS	3,912,622	3,779,317
PUNDS
Unrestricted funds	~3,912622	3,779,317
TOTAL FUNDS	3,912,622	~3779,317

			Pe	mbrokesh	ire Agricultural Socie	ty Ltd
					Cash Flow Statement
				for the	Year Ended 31October	2021
						31.10.21	31.10.20
				Notes
Cash flows from operating		activities
Cash generated from operations Interest element ofhire purchase payments paid						44,631 ~76)	(99,466) ~194)
Net cash provided by/(used		in) operating		activities		44 555	~99,660)
Cash flows from investing		activities
Purchase oftangible fixed assets Purchase ofinvestment property						(13,045) ~1350	(2,550)
Net cash used in investing	activities					~I4 395)	~2,550)
Cash flows from financing		activities
New loans in year Loan repayments in year Capital repayments in year						(1,929) ~2,932)	69,340
Net cash (used in)/provided		by financing		activities		~4,861)	~65 075
Change in cash and cash equivalents			in
the reporting period Cash and cash equivalents		at the				25,299	(37,135)
beginning ofthe reporting		period				28,391	65,526
Cash and cash equivalents		at the end	of
the reporting period						53690	28,391

								31.10.21	31.10.20
	Net income/(expenditure) for the reporting Statement ofFinancial Activities) Adjustments for:					period (as per the		129,835	(50,846)
	Depreciation charges Interest element ofhire Decrease in stocks Increase in debtors Decrease in c editors	purchase			and finance lease rental payments			29,085 76 1,231 (92,439) ~23.157)	23,686 194 1,261 (20,860) ~52 901
	Net sash provided by/(used		in)		operations			44,631	~99,466)
2.	ANALYSIS OF CHANGES			114NET DEBT
						At	1.11.20	Cash iloiv	At 31.10.21
	Net cash
	Cash at bank and in hand						~28 391	~25 299	~53 690
							28.391	~25 299	53,690
	Debt
	Finance leases Debts falling doe within Debts falling due ager I	I year year					(2,932) (6,934j ~62 406)	2,932 (784) ~2712	(7,718) ~59694)
							(72,272)	~4860	~67412)
	Total						(43,881)	30,159	(13,722)

OTHER TRADING ACTIVITIES
	31.1021	31.10.20
Itental Income 8:Servi eCharge	119,902	84,082
Other Activities	5,095	27,654
Government Covid Grants	500	21,332
Subsidiary Trading Activity	~16419	19,143
	14~1916	152,211
INVESTMENT INCOME
	31.10.21	31.10.20
Rents received	75,484	74,856

4.	INCOME FROM CHA	RITABLE ACTIVITIES
			31.10.21	31.10.20
			Annual
			Agricultural	Total
			Show	activities
	Show Income Government Covid Grants		67,823 67,116	32,214 41.337
			134,939	73,551
	Grants received, included	in the strove, are as follows:
			31.10.21	31.10.20
5.	RAISING FUNDS
	Other trading activities
			31.10.21	31.10.20
			f
	Staff costs Sundries		1,165	46,871 664
	Bank Charges Premises Expenses Administrative expenses Maintenance Costs Other Direct Costs		1,208 61,270 5,549 15,015 220	1,274 65,271 20,642 11,270 863
	Subsidiary Trading Expenses Accountancy fees Bad Debt Depreciation In!crest payable and similar charges		12,690 1,100 17,583 13,717 76	14,139 1,092 11,991 11,184 129
			129,593	~185390

CHAR	ITABLE A	CTIVITIES COSTS
				Support
			Direct	costs (see
			Costs f	note 7)	Totals
Annual Fstates	Agricultural Accounts	Show	83,491 131	6,791 ~2498	90,282 ~2629
			83622	~9289	~92 911

				Governance
			Management f	costs	Totals
Annual Estates	Agricultural Accounts	Show	2,819	3,972 2,498	6,791 2,498
			2,819	6,470	~9289

			31.10.21	31.10.20
			f.
Auditors' remuneration Other non-audit services Depreciation -owned assets Depreciation - assets on hire purchase contracts		and finance leases	2,200 1,180 29,084	2,217 2,024 21,800 1,886

						31.10.21	31.10.20
						f,
Wages and salaries Social security costs						6,762	140,186 11,884
						~6762	152,070
The average	monthly	number ofemployees		during	the year was as follows:
						31.10.21	31.10.20
						I	5
No employees	received emoluments		in excess off60,000.

11.	COMPARATIVES	FOR THE ST	ATEMENT OF	FINANCIAL ACTIVITI	ES
						Unrestricted
						fund
						f
	INCOME AND ENDOWMENTS		FROM
	Charitable activities
	Annual Agricultural	Show				73,551
	Other trading activities					152,211
	Investment income					74,856
	Total					300,618
	EXPENDITURE ON
	Raising funds					185,390
	Charitable activities
	Annual Agricultural	Show				166,074
	Total					351,464
	NET INCOhtE/(EXPENDITURE)					(50,846)
	RECONCILIATION	OF FUNDS
	Total funds brought	forward				3,823,365
	TOTAL FUNDS CARPIED FORWARD					~3772,519
12.	TANGIBLE FIXED	ASSETS
				Freehold	Plant and
				property	machinery	Tractol's
				I	6	6
	COST
	At I November 2020			2,644,001	30'),174	5,519
	Additions			7315	5~730
	At 31 October 2021			~2,651316	314,904	5,519
	DEPRECIATION
	At I November 2020				132,808	2,412
	Charge for year				24,804	310
	At 31 October 2021				157,612	~2722
	NET BOOK VALUE
	At 31 October 2021			2,651,316	157,292	2,797
	At 31 October 2020			2,644,001	176,366	~3107

TANGIBLE FIXEDASSETS- continued
		PAS
	Motor	Promotions
	vehicles	Plant	Totals
COST
At 1 November 2020 Additions	38,249	13,476	3,010,419 ~13045
At 31 October 2021	38,249	~13476	~3,023 464
DEPRECIATION
At I November 2020 Charge for year	15,039 2,321	6,008 1 649	156,267 ~29084
At 31 October 2021	17,360	~7657	~185351
NET BOOK VALUE
At 31 October 2021	~20 889	5,819	~2838, 113
At 31October 2020	23,210	7468	2,854,152

Fixed nssets, i	ncluded in the above, which are held under hi	re purchase contracts are as follows:
		Motor
		vehicles
COST
At I November 2020 Transfer to oivnership		28,750 ~28,750)
At 31 October	2021
DEPRECIATION
At 1 November 2020 Transfer to ownership		11,774 ~tl,774)
At 31 October	2021
NET BOOK VALUE
At 31 October	2021
At 31 October	2020

13.	INVESTMENT PROPERTY
	FAIR VALUE
	At I November 2020 Additions				1,021,300 1,350
	At 31 October 2021				~1022,650
	NET BOOK VALUE
	At 31 October 2021				1 022 650
	At 31 October 2020				~1021300
14.	STOCKS	Charity 31.10.21	Charity 31.10.20	Group 31.10.21	Group 31.10.20
	Stocks	f. ~8857	9678	f, 11,708	12,939

DFBTORS: A	MOUNTS FALLING	DUE WITHIN ONE YEA	R
		Charity 31.10.21 f	Charity 31.10.20	Group 31.10.21 f	Group 31.10.20
Trade debtors Other debtors PAS Promotions	Limited	195,588 7,918 24,123	111,678 4,871 17,458	202,894 7,918	112,491 4,871
Prepayments		5 159	6 170	5,159	~6170
		232,788	1~40 177	215,971	~123 532

CREDITORS: AMOUN	E WITHIN ONE	YEAR
	Charity 31.10.21	Charity 31.10.20	Group 31.10.21	Group 31.10.20
	6		f.
Bank loans and overdratts (see note 18) Hire purchase (see note 19) Trade creditors Social security and other taxes VAT Other credito s Accrued expenses Accrued Income	5,556 42,973 8,019 50,444 29,106 15,001 ~15231	5000 2,932 26,205 15,728 52,285 12,592 16,460 66.625	7,718 49,334 8,019 50,444 29,106 20,232 ~15231	6,934 2,932 27,238 15,728 52,285 12,592 21,055 66,625
	~166 333300	197827	180084	205,389

					for the Year Ended 31Octob	for the Year Ended 31Octob	for the Year Ended 31Octob	er 2021
17.	CREDITORS: AMOUNTS				FALLING DUE AFTER MORE			THAN ONE	YEAR
							Charity 31.10.21	Charity 31.10.20	Group 31.10.21	Grollp 31.10.20
	Bank loans (see note 18)						f, 43,057	f, ~45 000	59,694	62,406
18.	LOANS
	An analysis ol'the maturity		cf		loans is given	below:
									31.10.21	31.10.20
	Amounts falling due within		one year on demand:
	Bank loans								7,718	6,934
	Amounts falling betsveen	one		and two years.
	Bank loans - 1-2 years								7718	6 934
	Amounts falling due between Bank loans - 2-5 years			two and five years:					23,153	~20 802
	Amounts falling due in more		than tive years:
	Repayable by instalment".	;
	Bank loans more 5 yr by	instal							28,823	34,670
19.	LEASING AGREEMENTS
	Minimum lease payments	under			hire purchase	fall due as follows:
									31.10.21	31.10.20
	Net obligadons repayable:								f	f
	Within one year									~2932
20.	MOVEMENT IN FUNDS
									Net
								At	movement	At
								1.11.20	in funds	31.10.21
								f.
	Unrestricted funds
	Ger eral fund							3,772,519	129,835	3,902,354
	TOTAL FUNDS							3,772,519	129,835	~3902,354
	Net movement in funds, included				in the above	are as	follows:
								Incoming	Resources	Movement
	Unrestricted funds							resources f	expended f	in funds f.
	General fund							352,339	(222.504)	129,835
	TOTAL II'UNDS							352,339	~222 504)	129,835

				Net
			At	movement	At
			1.11.19 f	in funds	31.10.20 f.
Urrestricted		funds
Gieneral	fund		3,823,365	(50,846)	3,772,519
TOTAL	FUNDS		3 823 365	~50,846)	3,772,519

					Incoming	Resources	lvlov em en t
					resources	expended	in funds
Unrestricted		funds
General	fund				300,618	(351,464)	(50,846)
TOTAL FUNDS					300.618	(351,464)	~50,846)
A current year		12months	and prior year 12 months	combined	position is as fo!Iowa:
						Net
					At	movement	At
					1.11.19	in funds	31.10.21
Unrestricted		fumls
General	fund				3,823,365	78,989	3,902,354
TOTAL	FUNDS				3,823,365	78,989	3,902,354

			Incoming	Resources	Movement
			resources	expended	in funds
			f.		f,
Unrestricted		fends
General	fund		652,957	(573,968)	78,989
TOTAL	FUNDS		652,957	L573,968)	78,989

an oss ccou	t	Year	Year ended
		ended
		31.10.21	31.10.20
Turnover Cost ofSales Gross Protit		16,419 3,795 12,624	19,143 5 I 15 13,588
Administrative Expenses Operating Profit (Loss) before tax Other operating income Profit (Loss) for the financial year		17,595 (4,971) I 500 ~3.471	22,077 (8,489) ~8489
Balance Sheet		Year	Year ended
		ended
		31.10.21	31.10.20
		8
Tangible Fixed Asseus Stocks Debtors Cash at bank in hand		5,818 2,851 7,307 28270	7,467 3,261 812 24 086
Creditors due within one Provisions for liabilities	year	(37,879)	(25,019)
Total Assets less Current	Liabilties	.367	1060
Liabilities due aller one year		(16,637)	(17,406)
Net (Liabilities) /Assets		~50.270	~6,799
CAPITAL AND RESERVES
Called up share capital Retained earnings		2 ~50272 ~50~270	2 ~6,105 ~6~799

	Detailed Statement
	for the Year Ended 31October 2021
		31.10.21	31.10.20
		f
INCOME AND ENDOWMENTS
Other trading activities
Rental Income dt Service Charge Other Activities Government Covid Grants		119,902 5,095 500	84,082 27,654 21,332
Subsidiary Trading Activity		16,419	19 143
		141,916	152,211
Investment income
Rents received		75,484	74,856
Charitable activities
Show Income		67,823	32,214
GOvernment Covid Grants		~67 116	~41 337
		134,939	73.551
Total incoming resources		352,339	300,618
EXPENDITURE
Other trading activities
Wages		1,165	42,968
Social security			3,903
Sundries			664
Bank Charges		1,208	1,274
Premises Expenses		61,270	65,271
Administrative expenses		5,549	20,642
Maintenance Costs Other Direct Costs		15,015 220	11,270 863
Subsidiary Trading Expenses		12,690	14,139
Accountancy fees Bad Debt		1,100 17,583	1,092 11,991
Plant and machinery Depreciation ofTractors		12,402 155	9,722 173
Motor vehicle"		1,160	1,289
Hire purchase		76	129
		129,593	185,390
Charitable activities
Wages		5,597	75,492
Social security			6,773
Telephone		2,483	3,676
Sundries		131
Attractions			1,500
Prize Money		9,590	27
Carried forward		17,801	87,468

	for the Year Ended 31O	ctober 2021
		31.10.21	31.10.20
Charitable activities
Brought fomvard Rosettes Catering Security and Parking Shotvground Site Infrastructure Emergency service & Veterinary Grounds Maintenance Sanita'. ion ard Cleaning Stable hire and stock sundries Fuel & Oils Judges Expenses Equipment Hire Showground repairs Sub show expenses Affiliation fees Commission Licentes Goods for resale Electricity Grounds P.cnt Water		17,801 668 3,632 5,912 9,994 1,773 36 6,078 67 863 2,018 578 4,912 50 1,117 203 240 167 133	87,468 989 (359) 1,555 24 170 537 241 (16) 380 4,235 1,903 (12) 105 2,102 3,415 133 442
Computers and Software Advertising Depreciation Plant Depreciation Tractors Depreciation Motor Postage, Stationery & Printing Bad debt provision		4,350 3,350 12,40? 155 1,160 1,713 4,250	7,723 2,074 9,722 I73 1,289 6,358 263
		83,622	130,914
Support costs
Management
Wages Social security Sundries Bank Charges ' Bank Interest paid		91 2,415 313	21,726 1,208 162 2,816 736
		2,819	26,648
Governance costs
Auditors' remuneration Auditors' remureration Legal and Professional	for non audit work fees	2,200 1,180 3,090	2,217 2,024 4.271
		6,470	~8512
Total tesources expended		222,504	~351 464
Net inromel(expenditure)		129,835	~50 846)