2022-10-31-accounts - Pembrokeshire Agricultural Society Limited

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			Page
Report ofthe Trustees		I	to	6
Report ofthe Independent Auditors		7	to	8
Statement ofFinancial Activities
Balance Sheet		10	to	12
Cash Flow Statement			13
Notes to the Cash Flow Statement			14
Notes to the Financial Statements		15	to	24
Detailed Statement ofFinancial	Activities	25	to	26

			for t	hc Year Ended 31Octobe	r 2022
					31.10.22	31,10.21
					Unrestricted	Total
					fund	funds
				Notes
INCOME AND ENDOWMENTS			FROM
Charitable activities
Annual Agricultural		Show			319,749	134,939
Estates Accounts					23,092
Other trading activities					195,715	141,916
Investment income					84,257	75,484
Total					622,813	352,339
EXPENDITURE	ON
Raising funds					171,669	129.593
Charitable activities
Annual Agricultural Estates Accounts		Show			231,458 ~4590	90,282 ~2629
Total					~407 717	222,504
NET INCOME					215,096	129,835
RECONCILIATION		OF FUNDS
Total funds brought	forward				3,902,354	3,772,519
TOTAL FUNDS CARRIED FORWARD					4,117,450	3,902,354

	Consolidated
	31October 2022
		31.10.22	31.10.21
		Unrestricted	Total
		fund	funds
	Notes
FIXED ASSETS
Tangible assets	12	2,833,314	2,838,113
Investment property	13	1,022,650	~1,022 650
		3,855,964	3,860,763
CURRENT ASSETS
Stocks	14	9,544	11,708
Debtors Cash at bank and in hand	15	204,094 296,597	215,971 ~53690
		510,235	281,369
CREDITORS
Amounts falling due within one year	16	(196,746)	(180,084)
NET CURRENT ASSETS		313,489	101,285
TOTAL ASSETSLESSCURRENT
LIABILITIES		4,169,453	3,962,048
CREDITORS
Amounts falling due aRer more than one year	17	(52,003)	(59,694)
NET ASSETS		4,117,450	3,902,354
FUNDS	19
Unrestricted funds		4,117,450	3,902,354
TOTAL FUNDS		~4117,450	3,902,354

		31.10.22	31.10.21
		Unrestricted	Total
		fund	funds
	Notes	I,
FIXEDASSETS
Tangible assets		2,828.368	2,832,294
Investment property		1,022,650	1,022,650
		3,851,018	3,854,944
CURRENT ASSETS
Stocks	9	8,237	8,857
Debtors	10	215,067	232,788
Cash at bank and in hand		~273 221	25,420
		496,525	267,065
CREDITORS
Amounts falling due within one year		(185,233)	(166,330)
NET CURRENT ASSETS		~311292	~100735
TOTAL ASSETSLESSCURRENT
LIABILITIES		4,162,310	3,955,679
CREDITORS
Amounts falling due at)er more than one year	12	(37,501)	(43,057)
NET ASSETS		~4124 809	~3912622
FUNDS	14
Unrestricted funds		4,124,809	~3912622
TOTAL FUNDS		~4124 809	3,912,622

			Cash liloiv Statement
			for the Year Ended 31October	2022
				31.10.22	31.10.21
			Notes		f
Cash flows from operating		activities
Cash generated from operations				276,353	44,631
Interest element ofhire purchase or finance lease rental payments paid					~76)
Net cash provided by operating activities				~276 353	44,555
Cash flows from investing		activities
Purchase oftangible fixed assets Purchase ofinvestment property				(25,754)	(13,045) ~1,350)
Net cash used in investing	activities			~25 754)	~14,395)
Cash floivs from financing		activities
Loan repayments in year Capital repayments in year				(7,692)	(1,929) ~2,932)
Net cash used in financing		activities		~7,692)	~4,861)
Change in cash and cash	equivalents		in
the reporting period				242,907	25,299
Cash and cash equivalents		at the
beginning ofthe reporting		period		~53 690	28,391
Cash and cash equivalents		at the end	of
the reporting period				~296 597	53,690

								31.10.22	31.10.21
Net income	for the	reporting			period (as per the Statement ofFinancial
Activities)								215,096	129,835
Adjustments	for:
Depreciation	charges							30,554	29,085
Interest element ofhire			purchase			and finance lease rental	payments		76
Decrease in	stocks							2,164	1,231
Decrease/(increase)		in	debtors					11,877	(92,439)
Increase/(decrease)		in creditors						16,662	~23 157
Net cash provided		by	operations					276,353	44,631
ANALYSIS	OF CHANGES				IN	NET(DEBT)/FI/NDS
							At 1.11.21	Cash flow	At 31.10.22
									f,
Net cash
Cash at bank	and in	hand					53,690	~242 907	296,597
							53,690	~242 907	296,597
Debt
Debts falling	due within			I year			(7,718)		(7,718)
Debts falling	due after		I	year			~59694)	7,691	~52 003)
							~67 412	7,691	~59,721)
Total							~13722)	250,598	236,876

	OTHER TRADING ACTIVITIES	OTHER TRADING ACTIVITIES
					31.10.22	31.10.21
						f
	Rental Income &Service Charge				151,185	119,902
	Other Activities				18,697	5,095
	Government	Covid Grants				500
	Subsidiary	Trading Activity			~25 833	16,419
					195,715	~141 916
3.	INVESTMENT INCOME
					31.10.22	31.10.21
	Rents received				84,257	~75 484
	INCOME	FROM CHARITABLE	ACTIVITIES
					31.10.22	31.10.21
			Annual
			Agricultural	Estates	Total	Total
			Show	Accounts	activities	activities
				I
	Show Income		313,189	23,092	336,281	67,823
	Government	Covid Grants	~6560		~6560	67,116
			~319749	23,092	342,841	134,939

						31.10.22	31.10.21
	Rental Income &Service Charge					151,185	119,902
	Other Activities					18,697	5,095
	Government	Covid	Grants				500
	Subsidiary	Trading	Activity			25,833	16,419
						195,715	141,916
3.	INVESTMENT INCOME
						31.10.22	31.10.21
	Rents received					84,257	75,484
4.	INCOME	FROM	CHARITABLE	ACTIVITIES
						31.10.22	31.10.21
				Annual
				Agricultural	Estates	Total	Total
				Show	Accounts	activities	activities
	Show Income			313,189	23,092	336,281	67,823
	Government	Covid	Grants	~6560		~6560	67,116
				319,749	~23 092	342,841	134,939

		for the Year Ended 31Octob	for the Year Ended 31Octob	er 2022
	INCOME FROM	CHARITABLE ACTIVITIES - continued
	Grants received, included		in the above, arc as follows:
					31.10.22	31.10.21
5.	RAISING FUNDS
	Other trading activities
					31.10.22	31.10.21
	Staff costs				5,467	1,165
	Bank Charges				1,391	1,208
	Premises Expenses				65,391	61,270
	Administrative expenses				7,587	5,549
	Maintenance Costs				31,544	15,015
	Other Direct Costs				539	220
	Subsidiary Trading	Expenses			13,924	12,690
	Accountancy fees				2,090	1,100
	Bad Debt				28,896	17,583
	Depreciation				14,840	13,717
	Interest payable and	similar charges				76
					~171669	129,593
6.	CHARITABLE ACTIVITIES COSTS
					Support
				Direct	costs (see
				Costs	note 7)	Totals
	Annual Agricultural	Show		217,124	14,334	231,458
	Estates Accounts				~4590	4,590
				217,124	~18924	236,048
7.	SUPPORT COSTS
					Governance
				Management	costs	Totals
	Annual Agricultural	Show		4,963	9,371	14,334
	Estates Accounts			79	4,511	4,590
				5,042	13,882	18,924

		31.10.22	31.10.21
		8
Auditors' remuneration		2,400	2,200
Other non-audit	services	2,090	1,180
Depreciation -	owned assets	~30 553	29,084

REMUNERATION	REMUNERATION	REMUNERATION	RECEIVED	BYKEYMANAGEMENT	BYKEYMANAGEMENT	BYKEYMANAGEMENT	PERSONNEL
								31.10.22	31.10.21
Wages and	salaries							39,976	6,762
Social security		costs						~1739
								41,715	6,762
The average	monthly		number ofemployees		during	the year was	as follows:
								31.10.22	31.10.21
								3	I
No employees		received emoluments		in excess off60,000.

							Unrestricted
							fund
	INCOME AND ENDOWMENTS			FROM
	Charitable activities
	Annual Agricultural		Show				134,939
	Other trading activities Investment income						141,916 ~75 484
	Total						352,339
	EXPENDITURE ON
	Raising funds						129,593
	Charitable activities
	Annual Agricultural		Show				90,282
	Estates Accounts						2,629
	Total						222,504
	NET INCOME						129,835
	RECONCILIATION		OF FUNDS
	Total funds brought	forward					3,772,519
	TOTAL FUNDS CARRIED FORWARD						3,902,354
12.	TANGIBLE FIXEDASSETS
					Freehold	Plant and
					property f.	machinery f	Tractors
	COST
	At I November 2021 Additions				2,651,316 8,014	314,904 ~17 740	5,519
	At 31 October 2022				2,659,330	332,644	5,519
	DEPRECIATION
	At I November 2021					157,612	2,722
	Charge for year					27,311	280
	At 31 October 2022					184,923	~3002
	NET BOOK VALUE
	At 31 October 2022				~2659,330	147,721	2,517
	At 31 October 2021				~2,651 316	157,292	2,797

TANGIBLE FIXEDASSETS —continued
		PAS
	Motor	Promotions
	vehicles	Plant	Totals
		6
COST
At I November 2021	38,249	13,476	3,023,464
Additions			25,754
At 31 October 2022	~38 249	13,476	3,049,218
DEPRECIATION
At I November 2021	17,360	7,657	185,351
Charge for year	2,089	873	30,553
At 31October 2022	~19449	~8 530	215,904
NET BOOK VALUE At 31 October 2022	~18800	4,946	~2,833 314
At 31 October 2021	~20 889	5,819	2,838,113

	At 31 October 2021	At 31 October 2021				~20 889	5,819 2,838,113
	Tangible fixed assets held by thc trading		subsidiary		are recorded	under PAS Promotions	Limited plant. All other
	tangible fixed assets are beneficially	owned		by the	parent company.
13.	INVESTMENT PROPERTY
	FAIR VALUE
	At I November 2021
	and 31 October 2022						1,022,650
	NET BOOK VALUE
	At 31 October 2022						~1,022 650
	At 31 October 2021						1,022,650

	Investment property	held by the charity	at which the	trustees consider to be at fair	trustees consider to be at fair
	value
14.	STOCKS	Charity	Charity	Group	Group
		31.10.22	31.10.21	31.10.22	31.10.21
	Stocks	8,237	8,857	9,544	11,708
15.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
		Charity	Charity	Group	Group
		31.10.22	31.10.21	31.10.22	31.10.21
	Trade debtors	175,790	195,588	177,502	202,894
	Other debtors	6,203	7,918	8,976	7,918
	PAS Promotions Prepayments	15,458 17,616	24,123 ~5159	~17616	5,159
		215,067	232,788	~204 094	215,971

						for the Year	Ended 31October 2022	Ended 31October 2022
16.	CREDITORS: AMOUNTS					FALLING DUE	WITHIN ONE YEAR
							Charity	Charity		Group	Group
							31.10.22	31,10.21		31.10.22	31.10.21
										f
	Bank loans and	overdrafts		(see note 18)			5,556	5,556		7,718	7,718
	Trade creditors						44,736	42,973		44,743	49,334
	Social security	and other taxes					6,390	8,019		6,390	8,019
	VAT						64,048	50,444		65,548	50,444
	Other creditors						35,421	29,106		35,421	29,106
	Accrued expenses Accrued Income						23,266 5,816	15.001 ~15231		31,110 5,816	20,232 ~15231
							185,233	~166330		196,746	~180084
17.	CREDITORS:	AMOUNTS				FALLING DUE AFTER MORE THAN			ONE	YEAR
							Charity	Charity		Group	Group
							31.10.22	31.10.21		31.10.22	31.10.21
											f,
	Bank loans (see note 18)						37,501	~43 057		52,003	~59 694
18.	LOANS
	An analysis ofthe maturity			ofloans is given below:
										31.10.22	31.10.21
	Amounts falling		due within		one year on demand:
	Bank loans									~7718	~7718
	Amounts falling		between onc			and two years.
	Bank loans - 1-2		years							~7718	~7718
	Amounts falling		due between			two and five years:
	Bank loans - 2-5		years							23,152	23,153
	Amounts falling	due in more			than five years;
	Repayable by instalments:
	Bank loans more		5 yr by instal							21,133	28,823
19.	MOVEMENT	IN FUNDS
										Net
								At		movement	At
								1.11.21		in funds	31.10.22
								f,		f,
	Unrestricted funds
	General fund							3,902,354		215,096	4, 117,450
	TOTAL FUNDS							3,902,354		215,096	~4117,450

			Incoming	Resources	Movement
			resources	expended	in funds
					f.
Unrestricted		funds
General	fund		622,813	(407,7 17)	215,096
TOTAL	FUNDS		622,813	~407,717)	~215096

				Net
			At	movement	At
			1.11.20	in funds	31.10.21
Unrestricted		funds
General	fund		3,772,519	129,835	3,902,354
TOTAL	FUNDS		~3,772 519	129,835	3,902,354

			Incoming	Resources	Movement
			resources	expended	in funds
Unrestricted		funds
General	fund		352,339	(222,504)	129,835
TOTAL	FUNDS		~352 339	~222 504)	129,835

				Net
			At	movement	At
			1.11.20	in funds	31.10.22
			6		f,
Unrestricted		funds
General	fund		3,772,519	344,931	4,117,450
TOTAL	FUNDS		3,772,519	344,931	4,117,450

			Incoming	Resources	Movement
			resources	expended	in funds
Unrestricted		funds
General	fund		975,152	(630,221)	344,931
TOTAL	FUNDS		975,152	~630221)	344,931

Profit and Loss Account	Profit and Loss Account	Profit and Loss Account	Year ended	Year ended
			31.10.22	31.10.21
TURNOVER			25,833	16,419
Cost ofsales			7,204	3,842
GROSS PROFIT			18,629	12,577
Administrative expenses			15,720	17,548
Other income			0	1,500
OPERATING PROFIT / LOSS			2,909	(3,471)
Tax on profit / loss
PROFIT / LOSS FOR THE FINANCIAL YEAR			2,909	(3,471)
Balance sheet			Year ended	Year ended
			31.10.22	31.10.21
Tangible fixed assets			4,946	5,818
Stocks			1,307	2,851
Debtors			4,486	7,307
Cash at bank			23,376	28,270
Creditors due within		I year	(26,972)	(37,879)
Creditors due atter	I	year	(14,503)	(16,637)
Retained reserves			(7,360)	(10,270)

			Detailed Statement ofFinancial
			for thc Year Ended 31October 2022
				31.10.22	31.10.21
					f
INCOME AND ENDOWMENTS
Other trading	activities
Rental Income	tk Service Charge			151,185	119,902
Other Activities				18,697	5,095
Government Covid		Grants			500
Subsidiary Trading		Activity		~25 833	16,419
				195,715	141,916
Investment income
Rents received				84,257	75,484
Charitable activities
Show Income				336,281	67,823
Government Covid		Grants		~6560	67,116
				342,841	134,939
Total incoming	resources			622,813	352,339
EXPENDITURE
Other trading	activities
Wages				5,230	1,165
Social security				237
Bank Charges				1,391	1,208
Premises Expenses				65,391	61,270
Administrative	expenses			7,587	5,549
Maintenance Costs				31,544	15,015
Other Direct Costs				539	220
Subsidiary Trading		Expenses		13,924	12,690
Accountancy fees				2,090	1,100
Bad Debt				28,896	17,583
Plant and machinery				13,656	12,402
Depreciation ofTractors				140	155
Motor vehicles				1,044	1,160
Hire purchase					76
				171,669	129,593
Charitable activities
Wages				34,746	5,597
Social security				1,502
Telephone					2,483
Sundries					131
Attractions				4,590
Prize Money				18,085	9,590
Rosettes				5,440	668
Carried forward				64,363	18,469

		Detailed Statement ofFinancial
		for the Year Ended 31October 20?2
			31.10.22	31.10.21
Charitable activities
Brought forward			64,363	18,4G9
Catering			4,955	3,632
Security and Parking			12,958	5,912
Showground Site Infrastructure			33,003	9,994
Emergency service	& Veterinary		7,620	1.773
Grounds Maintenance			1,981	3G
Sanitation and Cleaning			13,168	6,078
Stock sundries			40	67
Fuel & Oils			1,204	863
Judges Expenses			2,852	2,018
Equipment Hire			9,307	578
Showground repairs			3,786	4,912
Suh show expenses			1,020	50
Affiliation fees			1,503	1,117
Donations			1,613
Commission			4,587	203
Licences			1,912	240
Show Signs			3,150
Goods for resale			43	167
Grounds Rent			133	133
Computers and Software			7,320	4,350
Advertising			4,818	3,350
Depreciation Plant			13,656	12,402
Depreciation Tractors			140	155
Depreciation Motor			1,044	1,160
Postage, Stationery	& Printing		6,673	1,713
Bad debt provision			~14275	4,250
			217,124	83,622
Support costs
Management
Sundries			79	91
Bank Charges			4,211	2,415
Bank Interest paid			752	313
			5,042	2,819
Governance costs
Auditors' remuneration			2,400	2,200
Auditors' remuneration		for non audit work	2,090	1,180
Legal and Professional		fees	~9392	3,090
			~13 882	6,470
Total resources expended			~407 717	222,504
Net income			215,096	129,835