RECISTERED COMPANY NUMBER: U9124313 (England and Wales)
RECISTERED CIIARITY NUIMIIER: 1160533
Report of the'frustees and
Consolldated Fingnelal Statements
for the Year Ended 31 October 2024
for
Pen)brokeshire Agricultur21 Society I,td
Ashmole and Co.
Chartered Certificd Accountants and Statutory
Auditor3
Williamston House
7 Goat Street
Haverfordwesl
Pembrokeshirc
SA61 IPX

Pembrokeshire Agricullural Society Ltd
Contents of the FlllAneial Statements
for the Year Ended 31 October 2024
Page
Report of the Trust¢¢s
I to 7
Report of the Independent Auditors
Statement of Financial Activities
io
Balance Sheet
Cash Flow Statement
14
Noles lo the Cash Flow St2tement
15
IYot¢s to the Financial St*t¢men¢s
16 to 25
Detailed Statement of Financigl Activities
26 to 27

Pembrokeshire Agrieultural Society Ltd
Report of the Trnstees (Ineludlng group Directors report)
for the Y¢ar Ended 31 Oetober 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006J present their report with
the financial stalements of the charity for the y&qr ended 31 Ocknbcr 2024. The trustees have adopled the provisions of
Accounting and Rew)rting by Charities: Statement of Recommended Practice applicable lo charities preparing their
accounts in accordanee with the Financial Rewrting Stand8rd applicable in the UK and Republic of Ireland {I."RS 102)
(effective l January 2019).
STRA TEGIC REPORT
Objectives and activities
The Pembrokeshire Agricultural Society WUB formed in 1784. In 1985 it becdmc a regislerLd charity for the
"Improvemenl and Encouragement of AgriLulture, particularly in thc County of PLmbrokeshire" On Conversion io a
l.imitcd Company in 2015 the SoLiety once again sought and gainLKI rcgistration as a charily. Over the yeiifs the Society
has thrivcd in various fornis and variuus localions in Pembrokeshire. until 1959 whcn it fnund its ideal sitc at the
County Showground where it remains today.
Our Vision is for:
county community ikal fvIIy 74nderslL7ndY, values and appreciales a susfainable agricultural induslry and as an
organisaiion be Kalionally recognised asprogres&ive, influential andhighly regarded.
The Society's objectives are set out in ils governing document. There are Iwo objectives. The first is to promote,
advance and improve for the benefit of the public, agricultur< horticulture and rural crafts and skills in all their
branches by ihe improvement of livestock and the demonstration and showing of livestock, machinery, crafts. products,
method5 and processes connected with agriculture and agricultural education in particular by the holdin8 of an annual
show. The second is to provide or assist in the provision of facilities in the interests of social welfare for recreation or
other leisure time occupation of individuals who have need of such facilities by reason of their youth. age infirmity or
disability, tinancial hardship or social circumstances with the object of improving their conditions of life.
The Society brings a showcase of agricultural activities to the general public, thus giving the opportunity for them to see
animals, craft5, skills & produce at close quarters whilst addressing the need to educate the public regarding agricultural
produce, processes and provenance of food. The agricultural events also provide a showcase to producers wishit)g
promote their products. Great importance is placed on providing the public with a well-rounded, educational portrayal
ot-agriculiure and the associated industries. The Society seeks lo improve and develop this function each year, bringing
new elements to it lo continue educating the public in new agricultural developments. By doing this, it believes that it is
providing the public with a plaiforni which will improve knowledge of the agricultural industry whilst enabling
agricultural based businesses with the opportunity lo display their products & services.
The work of The Society is covered under three primary areas."
The Society
Key Siralegic Aims
To raise our profile as a eharily focused on tood, farming and the countryside in PLmbrokeshire and to provide
facilities supporting a diverse range of pwple in Pembrokcshire wilh the aim of improving the conditiuns of their life.
'I'o build a dynamic and vibrant membership assuciation with relevance to all farmers and those engaged in
Pembrokeshirc's rural Lionomy. To hdrness ihe commitment and enthusi&sm of our members and vOlUn￿er$ lo
disscminale knowledge and education aix)ut food and farming.
The Show
Key.giraiegic Aim
To continue to bc a 'Champion' County Show which is relevant and appealing ts) a modcm and increasingly urban
based con5umerlvi51tor. To also be a fo¢al point for the 'P¢mbrokcshire 14rand' and promotion olthe cultural offer.
The Food Story
Siralegi¢ Aim
To provide facility/facilitation for learnin8 aiK)ui food. farming, the countryside and wider environmentsl issues
enabling informed connection between tomorrow's consumers and the producers, and lo contribute to the growth of the
rural economy through inspiring particularly younger people to explore the wide range of careers Ihe sector offers.
Page I

Pembrokeshire Agrieultural Society Ltd
Report of the Trustees (Including group Direetors report)
for the Year Ended 31 October 2024
Our Values Are to:
Work openly with all our stakeholders
Uphold the highest standards whilst remembering our traditions
Take pride in our estate and kLLP it in the best possible condition
ConduLt our business with integrity and in a spirit of positivity and r￿pect
Supporting Pembrokeshire produccr8 and busillL55es
The Society pn)vides facilities to events and organisations which scck to 25SlSt less able members of the public lo
enjoy experiences that they may not bc able to benefit from otherwise. Examples ol such activities are the provision
of showground facilitic5 to the local YFC movcment and the provision of facilities to local orgLtni5ations ivho work
with disabled stakeholders including Pcmbrokeshire College. The Sucicty believes il hd5 excellent facilities for
such evenls and wishes lo continue to expand utx)n the exisling USL Ot- the facilities. It will conliJ)uc to work with
existing users and will seek tu build relalion8hip8 with Wjtential new u5Ct3 of the faciliiiLs.
The other ￿tiVItieS undertaken by the Society. to Support the above charitable ohjectives, arc Ihc management of
the portfolio of pmperties it holds on it5 estale which includes thc rcccipt nf income from rental PTOPCrtie.4, hosling
of various othcr events on the showground such as a Christmas Fayre, Wedding Fayres, Poultry Shows, the annuai
Yl,'C Rally and numerous oiher events in our venues.
Volunteers are of utmost importsnce to the charity. All trustees, committee members and show steward5 are entirely
voluntary and without their valuable contribution the Society, and in particular the Pembrokeshire County Show,
ould not operate as it does. Lt is ¢stima(ed that the tots] volunteer numb¢r5 approximately 200 individuals, and
they are provided administrative support by staff.
The Trustees have regard to the Charity Commissions guidance on public benefit, and this remains a primary focus
when reviewing the aims and objectives for future activities of the Society.
Reseryes Policy
The Board aims to see the Society's free reserves at a level that ensures the future viability of the Show and the
Society. This is in order to ensure that, should the Society be unable to hold a show in any given year in the future,
there are sufficient funds available lo run the Society.
STRUCTURE, GOVER,YAf4CE AND MANAGEMENT
Pembrokeshire Agricultural Society is a Limite£l Company, it is also a registered charity. The Board of Directors of
Pembrokeshire Agriculturdl Society Limited are also its Charity Trustees enablÉng the Society to be compliant with
both company and charitable law. As a company limitrd by guarantee, the Society's governing doLumcnts are its
Memorandum and Articles of Assoeiation.
Thc Board of Directors are responsible and accountsble for the atTairs and finances of the Limited Company that is
the Society.
"E'hL Board ha5 approvcd the appointment of contracted 5Lrvices for ihc provi.4ion5 of 14R and Hcdlth & Safely
advice, to include thc ongoing developrncnt & moniiuTing of health and safety proce5se5 appropri<ltc to the effective
mandgement of risks during the annual show
The Show Council acts in an advisory and consultative capacity. in all matters rclating to the organisalion of the
Society'5 flagship event- the Pembrokeshirc County Show, any sub-shows such ￿ the Spring Lquinc Shows.
The Show Council is compriscd of the mumbers from the show committees:_ equinc, show jumping.. cattle, shcep.
pigs. goals? poulty, cratt & horticulture. dogs and vintage and others elected. The Show Council compriscs of up to
50 elec*d mcmbers, Directors of PAS Ltd. the President and the President EleLI. One third of elected mcmbers
shall retire from otTi¢e each year, but are eligiblc for re-election. Sliow Council membcr5 are drawn from the
catchment area of the Society and generally Teprcsent a wide cross section of the community and have particular
ski115 that they can brin8 to the Show Council. Each new council member is presented wilh an induction pack
containing infomiation about the Socicly. its constitution aJ)d objectives.
The Society has a wholly owned subsidiary. P.A.S. Pr(Imotions Limited which operates event5 at the Showground.

P¢mbrokeshire Agricultural Society Ltd
Report of the Trnstees (Including group Directors report)
for the Year Ended 31 October 2024
Aehi¢vements & Performance
The show
The County Show was another enjoyable and successful show. The first day of the show witnessed an enormous
attendance and everybody Seem to enjoy themselves. The forecast for the second day was mi5eiable 50 this helped
augment the first-day atiendance.
The livestock that was exhibited was of the highest quality and a delight for people to witness. Sadly, though entries
were down and we all understand the menace of TB plays heavily into this situation. This will be a challenge for all
societies moving forward. Happily.. sheep and pig entries were up and again displayed to the highest quality. In the
horse aren4 the eKcellent entries kept stewards and judges fully 0￿UpIed over the two days.
The Society is also grateful for all the trade stands that exhibit during the show. They also make a huge impression on
the visitors to the show with their wann welcome on their stands and the display of their businesses. The craft cents
were also very busy and were a massive altraction to all attendees. Special mention must be made of the Food Hall. By
showing the very best of the West Wales produce, the marquee has be￿me a highlight of many coming to the show.
Another wonderful area no¢ lo be missed was the very busy Countryside Market with its varied and excellent Products.
Many people enjoyed visiting this area. The Countryside Paddock also proved to be enjoyed by the general public.
Another busy area of the show ivas our vcry own 'Food Story. marquee which is such an import&nt aspect of the show
in reaching out to children to leach them food providence and also involving interested parents and grandparents loo.
This year, the vintage display was a great attraction. especially when they took a tour around the ring.
The eraft and horticulture hanger was a treat to see. Many entries of Superb craftmanship to witness. Lots of pe4)ple also
enjoyed a visit to our feathered friends jll the Brithdir Hall which houses the Poultry exhibitors.
The Spring Equine Event
The 2024 Pembrokeshire Sprin8 Equine Event proved to be suc¢e55ful once again and with 133 entries the event 18
growing year on year. Competitor.8 came from as far as Cardiff and Aberyslwyth and il i& gaining popularity in the
equin¢ wmmunity each year it is run. It is a fantastic small show which we are very proud of. Our aim every yeai. is to
try and encourage the grass roots competitors to give it a go and then encourage them lo try the County Show in the
summer.
Pembrokeshir¢ Agricultural Society Estate
The Estate has once again been quite busy during the year ending 31￿ October 2024 ivith numerous events hcld on site.
Whilst some of these Th'ere the Society's own events. we also welcomed the Pembrokeshire Federation of YFC'S,
Crucial Crew, The Celtic Trust Show, the West Wales Health Care Awards, Dyfed Poultry Society Poultry Show,
Haverfordwesl Town Council, the No Fit State Circus and various other community organisations and private
individuals ￿ our site. Pembroke5hire College continued to use some of our facilities on a reduced ad hoc basis. mainly
for examinations, and we were pleased to build a relationship with the Welsh Blood Service who now use the Pavilion
for donation sessions on a regular basis.
A programme of works wa5 completed during the yetsr to bring our pemianent toilet blocks back into full use for the
County Show atid other events on site. Whilsl these facilities still require some improvement5, there is now additional
capacity available on site should the need arise.
Much work was undertaken during the year to freshen up ihe appearance of the site mainly in relation to painting work
and grounds maintenance. It wa5 also decided to continue with our tree planting scheme, with the trees planted in
previous years making a signiticant difference to the landscape of the 51te. These items alongside the routine
maintenance tasks were mainly attended to by our Staff and volunteers. with the assistance of external contractors wherc
necesS￿y.
It was recognised during the year that work would need to be undertaken to address the issues with some roofs on sile,
partly due to the need to improve the energy cfficicncy of the buildings where possible and partly lo address ongoing
repair issues. A decision therefore been taken to replace the roof ott one of the smaller buildings with insulated
roofing and this is du¢ to be undenaken in Spring 2025. Once this is completcd, further consideration will be given to
other buildings on site.
Unfortunately during this year we had two rental units that were Un0￿upied for much of the year. We are seeking new
occupants for these buildings. and will continue to do so until they are filled. We will also continue to explore
opportunities for other uses for the sile, to rnaximise use of the facilities and space we have on site.
Page 3

Pembrokeshire Agricultural Society Ltd
Report of the 'frustees (Ineluding group Directors report)
for the Year Ended 31 October 2024
Christmas Fair
All wcnt very well. this being the first time over 2 days. it was not expected to double the amouni but there was a huge
push on social media. s￿tUrdaY went very well we will hold thc Christmas Fair again over two days on 13 and 14,
December 2025. There were 61 indoor spaces, PAS had the mulled wine stall, 5 vcndors in thc food court and a fn]it
and veg stall. Bellcs Charity had a sland and Sandy Bcar took over Santa's Grotto which was placed outside ivhich
worked well. The Rock Choir performed on the Sunday were umaiing dnd all added to the atmosphere, they have been
book￿ again for 2025.
Food Story
Another 5uwessful event was held on the 5, & 6, March 2025 with over one thousand children visiting the
showground over the two days from 30 different schoo15 with posilivc feedback from both the children and the teachers.
This year the focus was on potatoes, with the polalo story being told, and jacket potatoes being eaten. Bart Rees, Tom
Reed and Rob Scale kindly lent their poiato kil for the children to see. Puffin supplied the jacket potatoes at a 50 %
reduction on price. Castell Howell cooked the jacket potatoes and told the children about thc food they were eating.
New workstations this year included Keep Wales Tidy (food miles), National Parks, Puffin, Dylan Roberts Carningli
Dairy with his book, Robleslon Hall sheep and Pembrok&shire College. This amounted to 26 workstations in total.
There were &pproximately 70 volunteers, some of whom gave up two day5 Qt their lime, and others who spared a day or
two or even a couple ot hours.
Each sGhool left with a buckei full Df resources. and a seed potato lo enter one of the competitions. A display of the
COTnpclition cntries will be at the Food Story lenl in thc show. Thc buckets were donated by Puffin, and thc rLsoufLCS
donated by Wc15h Government and oihcr organisalions.
l)urin¥ thL Idst year as well as our presence at ihe Counly Show thc members of the bood Story 'l-eam have alsu visitcd
Fenton and Roch Schoo15, and resources havt bccn lent to Caer Elen school. 'I'hey were also at Narberth Food Festival
and Camrose Vintagc Working Day. A trailer has been purL'hased and adaptcd to being an educatianal resource for the
Food Story at any cvcnL and especially the bmallcr agricultural shows where the continu¢d ¢du¢ation of children and
adults on all things agricultural can take place.
Next year's main Food Story event will be held on the theme of 'Lels Celebrate.. All agricultural students will and
secondary students will be invited to the Thursday morning session for the benefit of children, rather than them being
mixed with the primary children on the other three sessions. It is hoped that we will be able to secure lurther funding
this year.
Page 4

Pembrokeshire Agricultural Society Ltd
Report of the Trustees (Ineluding group Directors report)
for the Year Ended 31 October 2024
FINANCIAL REVIEW
The financial results for the SoLiety show a deficit of £35,164 this year compared to a surplus of £32.138 the
previous year. The main reason lor this dcfieit is the dreadful weather on the second day of the 2024 County Shoiv.
We dre confident that, had we not bcen unfortunate enough lo have sulTered Ihe wet blustery canditions that we did,
we would have returned a surplus once again this year.
The charitable activiti&s. which in essence are the Show and the Food Story F.vents, had a total income of £387,210
during the year ending 31 Ocknber 2024 cumparcd to an income of £382.752 the previous year. Thc modest
increase in incomL was represented by changes over scvcral lines. Income from conGLSsions and entry fees
increased. and this mitigated IhL cffect of a small dcLfLaSC in revenue from sponsorship. Income from admi5SiUJ]S
for lh¢ first day of the County Show was excellent. and we had crowds of visitors on site enjoying dl thai ihe Show
has to offer. I'his did not howevcr compensate for the low takings on the second day due to the challenging
weather.
Lxpcnditure for charitable activitie5 wa5 £401.105 compared io £363.695 the previous year, and much of this
increase was dircct costs for the Show. As we take further steps to recurn to a County Show which is more akin lo
thL cvcnts nf the pre-COVID eTa, Losts are inevitably increasing. During 2024 the main increases in costs were in
relalion to attrdc¢ions which incre&sed by 790/0 to £10.046, security and parking which increased by 45% to
£61.965 (partly due to increased regulatory requirements) and office infrastructure and supplies costs which
n¢reased by 63￿/￿ to £14:447. Th¢se increases in costs were expected and planned for. and we were able to make
some Small savings in other areas such as equipment hire and p05tage. We continue to work to identify areas where
we can make cost savings withou¢ compromising the quality of the County Show so that expenditure can be Io¢u5ed
on where it has the most impact for the event, but it is unfortunately inevitable that overall costs will continue to
increase each year.
The deficit lor the Show before support costs wa5 £13,895 compared to a surplus last year of £19,057.
The restricted funds, which relate entirely lo the Food Story projec4 are shown in a separate column and all
expenditure under the project was funded by grants and donations for which the Sociely is very grateful. At the end
of the f5nancial year there was an amout)t of £16,154 remaining in the Food Story funds for future events, and work
will be undertaken to secure additional funds to ensure that these events can continue.
The Estate. which is shown &5 Other Trading Activities on the st￿ment of Group Finkmcial Activities, had a total
income of £200,056 compared to £235.703. During the year ending 31 October 2023 Pembrokeshire College were
occupying some of our buildings for part of the year, but Ihis ceased during that year and so this inci)me stream was
not available during the 202312024 financial year. We also had two properties unoccupied for much of the year
which resulted in a de¢rease in nomial rental income.
Expenditure on the Estate was £1 80,491 compared 10 £206.173, and the end result for the estate was a surplus of
£19.565 compared t() a sutplus thc previous year of £29,530. Thc focus for the Estate now is undcrtaking
maintenancc work where necessary to ensure the integrity of the buildings is maintained and they are in good ordcr
for both society events and tenants, and also ensuring that the buildings and showground are used as much as
possible to mdximise revenue from this income source which in Lurn 5UPFK)rts the Society's charitable activities.
Included in the Estates Accounts are the figures for the trading subsidiary, PAS Promotions Limited. "fhe results
for the subsidiary were similar to last year with a profit of £5,038 for the year (2023 £4,209). The board of
dircctors are plea5cd to rerA)rt that this company hab now returned to a positiL)n whcrc it h&8 net assets, and the
Balance Sheet for the subsidiary is looking much hLalthier than it has done in the reeenl pasl.
The deduction of Support and governancc costs from the nel inLomc for the Show and the Estate brings us io th£
results given in thc first paragraph ol-this report.
r)uring the year we had capital expenditurc totalling £16.483 with the main items bcing a new boiler for onL Df thc
rental pmperties, additional CCI'V cameras for thc 5lte and the purchase of a trailer to assist with the promotion or
Food Story, wilh the latter being funded by grant5 and donations received.
The Balance Sheet shows our closing Cash in Hand and at Bank at £338,261. These reserves are essential in
ensuring that the Society has ongoing financial security, and the short terni aim should be to build enough reserves
to cover Ihe cost of running the County Show for one year.
The Society's total reserves, including all assets. at 31 October 2024 were £4.114m cornp￿d to £4.149m the
previous year.
Page 5

Pembrokeshire Agricultural Soeitty Ltd
Report of the Trustees (Including group Directors report)
for the Year Ended 31 Oetober 2024
REFERENCE AIYD ADMINISTRA TIVE DETAILS
Registered Company number
09124313 (England and Wales)
Registered Charity number
1160533
Registered office
The Show Office
County Showground
Withybush
HA VERFORDWEST
Pembrokeshire
SA62 4BW
Trustees
Mr Roger Mathias
Mr Michael Davies Chairman
Mr5 Nicola Owen Vice Chairman
Mr John Lewis
Mr Mansel John Raymond
Mr Adam Thorne
Mr Richard Campbell Cole
Mr Delme Harries
Auditors
Ashmole and Co.
Chartered Certified Accounlanls and Stalulory
Auditors
Williamslon House
7 Goal Sircct
Haverjordwest
Pembrokeshire
SA61 IPX
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees (who are also the directors of Pembrokeshire Agricultural Society Ltd for the purposes of company law)
are responsible for preparing the Report of the Trustees and Ihe financial statements in accordance with applicable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 6

Pen)brokeshirc Agrieultural Society Ltd
Rtport of th¢ Trustees
for the Year Ended 31 October 2024
STATEMENT OF TRUSTEES, RF.SPONSIBILITIES- continued
Company law requires the tNstees to prepare financial statements for each financial year which give a true and fair
view of the statr of affairs of the charitable company and ot ihe incoming resources and application of resources,
including the ineome and expenditrjre, of the charitable company for that period. In preparing those financial
statements, the trustees are required to
select suitable accounting policies and then apply them conSis￿ntiy.
observe the methods and principles in the Charity SORP.
make judgements and estimates that are re&8onable and prudent-
state whether applicable accounting siandards have been followed, subject to any material departure5 disclosed and
explained in the financial statements.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitsble
compan). will continue in business.
The trus¢ees are responsible for keeping proper accounting records which disrlose with re£tsonable accuracy at any time
the financial position of the charitable company and to enable them to ensure that the financial Statements comply with
the Companies Act 2006. They are albo responsible for safeguarding the assets of the charitable company and hence for
taking reasonable step5 for the prevention and detection of frdud and other irregularities.
In so far as the trustees are aware..
there is no relevant audit infornation of which the charitable company's auditors are unaware,. and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit
information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Ashmole and Co., will be proposed for re-app)inthient at the forthcoming Annual General Meeting.
..2 6 Z3 and signed on its b¢ha]f by..
Chair of the Board of Management on ..
Mr Miehdel Davies- Trustee
Page 7

Report of the Independent Auditors to ¢he Trustees of
Pernbrokeshire Agricultural Soeiety Ltd
Opinion
We have audited the flnancial statements of Pembrokeshire Agricultural Society Ltd (the 'charitabl¢ company,) for the
year ended 31 October 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow
Statement and notes to the financial statements, including a summary of significant accounting policies. The financial
reporting frame￿'0rk that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statLmcnts:
give a truc and fair view uf the state of the charilable company'8 affairs as al 31 October 2024 and of its incoming
resources ￿nd application of resources. including its incomL expenditure, for the year then endcd-
have been PlOPLrly prepared in ¢￿Cordance with United Kingdom Gcnerally Accepled Accuunting Practice. and
have been prcparcd in accordance with Ihc rcquirements of thc Compani&s Act 20U6.
Basis for opinio
Wc conducted our audil in accordance iviih International Standards on Auditing (IJK) (ISAS (UK)) and applicable law.
Our re5pon5ibilities under those standards are furihcr dcscrihed in the Auditors, responsibilitics for the audit of thc
finanLidl statements section of our report. We arc independent of the charitable company in accordancL with the
ethical requircments that &re relevant to our audit of thL financial statements in the UK, including the FRC'S Ethical
Standard, and we have fuifillcd our other eihiLal responsibilities in accordance with these requirements. We believe
Ihat the audit evidence wc have obtained is surricient and appropriale lo pr(Trvide a basis for our opinion.
Conelusions relatin% to going concern
In auditing the financial st&lements, we have concluded that the trustees, use of the going concern ba515 of accL)unting in
the preparation of the financial statements is appropriate.
Based on the work we have perfomied: we have not identified any material uncertainties relating to events or c(Trnditions
thaL individually or collectively, may casi Significant doubt on the charitable company's ability Lo conlinuc as a going
concern for a period of at least twelve month5 from when the financial statements are auihorised for issue.
Our responsibilities and the responsibilities of Ihe trustees With respect to going concern are described in Ihe relevant
sections of this reporL
Other information
The Iruslees are responsible for the other inforniation. The other information comprises th¢ infonnation included in the
Annual Report, otker than the financial siatements and our Report of the Independent Auditors Ihercon.
Our opinion on the financial statements does not cover the other inforn]alion and, except to the extent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other infoTm&tion and, in doing
so. Consider wheiher the other information is materially inconsistent with the financial statements or our knowledge
obtained in the dudit or oiherwisc appears to be materially misstated. 11 we idcnlity such material in¢onsist¢nLiCS or
apparenl material misstatements, WL are required to dLtermine whether this givLS rise to a material misstatement in the
financial sialtillcnts themselvcs. If, based on the work WL have performcd, we conclude that there IS <1 material
misstatement of this other information. wc are requircd lo rcport that fact. We have nuihing lo report in ihib rcgard.
Matters on which we are requircd to report by cx¢eption
We have nothing to report in respecl of the followittg matters wherL thc Charities (Accounts and Reports) Regul&lions
2008 rcquircs us to rcpDrt to you if, in our opinion=
the inforniation given in thc Rcport of the Trustees is inconsistent in any material respcLt with the financial
statemenls- or
the charit&blc company has not kept adequate accounting recnrds- or
the financial s¢alemLnts are nol in agreement with the accounting records and relums. or
wc have not receivcd all the informaiion and explanations w¢ rcquire for our audit.
Page 8

Report of the Independent Auditors to the Trustees of
Pembrokeshire Agricultural Society Ltd
Responsibllities of trustees
As explained more fully in the Statement of Trustee8' Responsibilities, the trustees (who are also the directors of the
charitable company for the purposes of Lompany law) are responsible for the preparation of the financial statements and
for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary
to enable the preparalion of financial statements that arc free from material misstatemen4 whether due to fraud or error.
En preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to
continue as a going concern, disclosing, as appliLable, mattcrs related to going conLLrn and using the going concern
basis of accounting unless thL trustees either inlLnd ￿ liquidate the charitable company or to cease operalions, or havc
no realislic alicrThative but to do so.
Our responsibilities for the 2udit of the financial 5tatetllents
We have been appoinl¥d ds auditars under SLcliun 144 ot-the c.harities Act 2011 aTLd report in accordance with thc Act
and relevant rcgulations made or having effect thereundLr.
Our objectives are to obtain rea4onable assurance about wheihcr Ihc financial statements as a wholc arc frcc from
material misstatement, whether duc lo fraud or error, and iu is5uc a Rcport of the Independent Audilors ihat includes
our opinion. Reasonable assurance is a high level of assurance, but 15 tiot a guarantee that an audil Londuclcd in
accordance with ISAS (UK) will alivays detect a material misstatcmcnt when it exists. Misstatements can arise from
fraud or error and are considered matcrial if. individually or in the aggregate, they could reasonably be expected to
influence the ¢conomic decisions of users laken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below..
In identifying and a55e55ing risks of material misstatement in I'espect of irregularities, including fiaud and
non-compliance with laws and regulations, we considered the following:
Nature of the charity and the sector in which il operates
The legal and regulatory framework in which the charity operates and in particular those laws and
regulations that directly affect Ihe financial statements or have a fundamental effect on operations e.g.
Charities Act 201 I, health and safety regulation.
Rcsults of enquiries of mandgement and those charged with governance.
Any matters identified relating to the charity's policies and procedui'es for identifying, evaluating and
complying ivith laws and regulalions, and wl)eil)er they were any known instances of non compliance.
Detecting and responding to the risks of fraud and whether there is any knO￿.ICdge of actual. suspected or
alleged Iraud
A furthcr description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's webslte at www.frc.org.uklauditorsreswnsibilities. This description forms part of our Rewrt of the
Independent Auditors.
Use of our report
This report is made solely lo the eharitsble Lompany's trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Keports) Regulations 20U8. Our audil WOTk has been undertaken so that WL might state to the charitable
Lompany's trustee5 those rnatlers we are required io sldiu" to them in an auditors, report and tor no oiher purposc. To the
fullest ¥xtcnt permitted by law, we do not accept or assume reswnsibility to anyone other than ihL Lhdritdble company
kmd the charitable company's trustCC5 as a body, for our audit work. for this report, or for the opinions wc h<iVC forn]ed.
Ashmole and Co.
Chariered Ccrtified Accountants and Siatulory
Auditors
Eligible to ac¢ as an auditor in terms of Section 1212 of the Companie5 ALt 2006
Williamston House
7 Guat Street
Haverfordwest
Pembrokeshire
SA61 IPX
Date=
.Q7.2Gz£
Page 9

PembToke5hire Agriculth]ral Society Ltd
Consolidated Statement of Finaneial Activities
(Incorporatin¥ ajj Income and Expenditure Account)
for the Year Ended 31 Octnher 2024
31.10.24
Total
funds
31.10.23
Total
funds
Unrestrictcd
Restricted
fund
Notes
INCOME AND ENDOWMENTS FROM
Chllritable aetivit5es
Annual Agricultural Show
Estates Accounts
380,419
6.791
387,210
382.752
1.000
Other trading activities
lttvestment income
110,916
110.916
89.140
140,578
95,125
Total
580,475
587,266
619455
EXPLNDITURE ON
R&ising funds
180.491
180.491
206,173
ChAritabl¢ activities
Annual Agricultural Show
ri4tates Accounts
421,328
13.820
6,791
428,119
13.820
369,902
11,242
Total
615 639
6,791
622 430
587.317
NET INCOMEI(EXPENDITbRE)
(35,164)
(35,164)
32.138
RECONCILIATIof* OF FUNDS
Total funds brou8ht forward
4.149,588
4,149,588
4,117,450
TOTAL FUNDS CARRIED FORWARD
4,114.424
4 114,424
4 149,588
The notes form part ofthcse financial statements
Page 10

Pembrokeshire Agricultural Society Ltd
Consolidated Balance Sheet
31 October 2024
31.10.24
Total
funds
31.10.23
Total
funds
Unrestricted
fund
Restricted
fund
Notes
FIXED ASSETS
Tangible assets
Investment property
12
13
2,821,767
1.022,650
3,800
2,825,567
1,022 650
2,833,717
1,022.650
3,844,417
3,800
3,848.217
3.856,367
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
14
15
7,925
71,247
322 107
7,925
71,247
338.261
8,992
107,529
377.i68
16.154
401,279
16,154
417,433
494,089
CREDITORS
Amounts falling due within one year
16
(94.555)
(19,954)
(114,509)
(156,524)
NET CURRENT ASSETS
306,724
3.800
302.924
-337.565
TOTAL ASSETS LESS CURRENT
LIABILITIES
4.151,141
4,151,141
4.193,932
CREDITORS
Amounts falling due after more than one year
17
(36,717)
(36,717)
144,344)
i¥ET ASSETS
4,114.424
4 114,424
4,149 588
FUNDS
Unrestricted funds
20
4,114424
4 149,588
TOTAL FUNDS
4,114.424
4 149 588
Co+vlinued onfollowingpage
The notes form part of these financial stalements
Pagell
continued...

Pembrok¢shire Agricultural Society Limited
Charity Balance Sheel
31 October 2024
31.10.24
Total
funds
31.10.23
Total
funds
Unrestricted
fund
Restricted
fund
FIXED ASSETS
Tangible assets
Investment property
2,818,482
1022.650
3,800
2.822.282
1,022,650
2.829,512
1022 650
3,841,132
3.800
3,844,932
3.852.162
CURRkNT ASSTr.TS
Stocks
Dcbtors
Cash al bank and in hand
7,925
83.689
282 387
7,925
83,689
298,541
8.185
116.i37
348.358
374,001
16,154
390,155
473.080
CREDITORS
Amounts falling due within one year
(76,207)
(19,954)
(96,161)
(140,559)
NF.T CURRENT ASSKTS
297 794
293,994
332521
I'OTAL ASSETS LESS CURRENT
LIABILII'ITr S
4,138,926
4:13 8,926
4,184.683
CREDITORS
Amounts falling due after more than one year
{26,390)
(26,390)
(31,945)
NET ASSETS
4 112536
4,112,536
4 152738
FUNDS
unreStric￿d fund5
4,112,5.36
4,152.738
TOTAL FUNDS
4.112,536
4,152,738
Conlinued onfollowingpage
The notes form part of these financial statemenls
Page 12
con¢inued...

Pembrokeshlre Agricultural Society Limlted
BalAnee Sheet
31 October 2024
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for Ihe year
ended 31 oc￿ber 2024.
The members have not dep05ited notice. pursuant to Section 476 of the Companies Act 2006 requiring an audit of these
financial statements.
The trustees acknowledge their responsibilities for
(a)
ensuring that the charitable ¢ompany keeps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing financial statements which give a true and fair view of the state of affairs of the charitable company as
at the end of each financial year and of ils surplus or deficit for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companie5 Act
2006 relating to fIn￿CIal statements, so far as applicable ￿ the chariLgble company.
These financial statements have been audited under the requiremenls of Section 145 of the Charities Act 2011.
(b)
The finqncial statements were approved by the Board of Trustees and authorised for issue on
[tl> i.IC. .... and were signed on its behalf by..
Mr Michael Davies - Trustee
Mrs Nicola Owen - Trustee
The note5 form part of these linancial Statements
Page 13

Pembrokesbire Agricultural Society Ltd
CAsh Flow Statement
for the Year Ended 31 October 2024
31.10.24
31.10.23
Notes
Cash flows from operating activities
Cash generated frorn operations
17.816)
114.009
Net cash (used inl/provided by operating activities
17.816)
114,009
Cash flows from inve5tiDg activitie5
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
(16.484)
101
(25,379)
Net cash used in investing activi¢ies
13 865)
25 379)
Cash flows from financing a¢tivitie5
Loan r¢payments in year
7.626)
Net cash used in financing activities
7.626)
7.659)
Change in cash and casb equivalents in
the reporting period
Cash and cash equivalent5 at the
beginning of tbe reporting period
(39,307)
80,971
377,568
296.597
Cash and cash equivalents at the end of
the reporting period
338,261
377 568
The notes form part of these financial Statements
Page 14

Pembrokeshire Agricultural Society Ltd
Notes to the Cash Flow Statement
for th¢ Year Ended 31 October 2024
RECONCILIATION OF NET (EXPENDITURE)IINCOME TO NET CASH FLOW FROM
OPERATING ACI'IVITIES
31.10.24
31.10.23
Net {expenditure)fincome for the reporting period (as per the
Statement of b"inancial Activities)
Adjustments for:
Depreciation Lharges
Loss on disposal of fixed &%sets
Interest receivcd
r)ecrease in stocks
Decrease in debtors
Decrease in creditor5
(35,164)
32.138
24,367
165
(2.518>
1,067
36.282
42015)
24.976
552
96.565
40 222)
Net cash (u5¢d in)Iprovided by operations
17,816)
14,009
ANALYSIS OF CHANGES IN NET FUNDS
At 1.11.23
Cash flow
At31.10.24
Net cash
Cash al bank and in hand
377 568
39.307)
33¥ 261
377.568
39,307
338,261
Debt
Debts falling due within l year
Debts falling due after l year
(7.7 l8)
{7,718)
36717)
52.062
44 435)
I'otal
325,506
31,680)
293,826
The notes form part of these financial statements
Pag¢ l5

Pembrokeshire Agricultural Society Ltd
Notes to the Finaneial Ststements
for the Year Ended 31 October 2024
ACCOUNTINC POLICIES
Basis of preparing the financial statements
Thc findncial statements of thL" charitable company.. whieh is a public benefit entity under FRS 102. have been
prepared in accordance with IhL Charities SOIIP (I.'RS 102) 'Accounting and lieporting by Charities= Statement
uf Rceommended PracliLe applicable to charities preparing Iheir aLLounts' in accordance with the PinanLidl
Reporting Standard applicable in the UK and Republic of Ircland (FRS 102) (effective l January 2019),,
Financial RLporting standard 102 'Thc Financial Reporting Standard applicable in ihc UK and Republic of
IrLland' Ihe Companie5 Act 2006. Thc financial statements have bLLn prcparcd under the historical cost
convention.
Company Status
The Society 15 a company limited by guarantee.
Basis for valuatioo of Gift5 in Kind and Donated Services
Thc society vaiues gifts in kind and donated services al an eslimatcd market value. The value of whiGh 15
included in the incomc from show activities amounts to £4.900. The so¢iety benefits from the Services or
volunteers which has not becn monetized.
Group Financial Statements
These Financial Sttiement5 consolidate the r¢5ults of the Charity and its wholly owned subsidiary - PAS
Promotions limiled. A separate statement of financial artivities and income and expenditure account are not
presented for the Charity itseiffollowing exemplions arrorded by para. 397 of the SORP.
Income
All income is rewgnised in the Statement of Financial Aclivitie5 once the charity has entitlement lo the funds: il
is probable ihat the income will be received and the amount Lan bc measured reliably.
Expenditure
Liabilities are recognised as expenditure &8 soon as there is a legal or conslrnctive obligation committing the
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and
the amount ot the obligation can be me&sured reliably. Expenditure is accounted lor on an accruals basis and has
been classified under headings th&t aggregate all cost related to the category. Where costs cannot be directly
attributed to particular headings they have been allocated to activities on a basis consistent with the use of
resources.
Allocation 2nd apportionment of eosts
Most costs are directly allribu(ablc to the running costs of the annual show or the management of the Estate and
are allocatcd accordingly. Thc cost of the company's stsrr is dividcd between the Show aclivity and the
managcment of the Estate on the basis of time devoted
Tangible fixed a55ets
Depreciation 15 provided at the following annual rates in order to wiile ofl cach asset (Iver its eslimatLd uscful
life.
Plant and machinery
200/0 on rcducing balance and IOO/o on rcducing balance
Tractor5
Motor vehicles
I 00/0 on reducing balanc
150/0 on reducing balance
Th¢ Freehold Property is included in the financial staternent5 al ils revalued amount based upon open market
values. As valuations are carried out every 5 years a separa* impairnient review is not considered necessary.
The Board of Management is of the vicw that its policy on rnaintenance ensures that the value of ils land and
building5 is ut)likely lo fall below the value currently shown in the accounts.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is reeognised in the Statement of Financial Activities.
Pa8e 16
continued...

Pembroke5hire Agrieultur21 Society Ltd
Notes to the FinancSal StatemeRt5 - continued
for the Year Ended 31 October 2024
ACCOUNTING POLICIES- continued
Stocks
Stocks ar¢ valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
RestriLtions arise when specified by the donor or when funds are raised for particular restricted pury)oseb.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
OTHER TRADING ACTIVITIES
31.10.24
31.10.23
Rental Income & Service Charge
Othcr Activities
Subsidiary Trading Activity
69,781
13,208
92,584
17,329
30,665
110916
140.578
INVESTMENT INCOME
31.10.24
31.10.23
Rents received
Dcposit account interest
86,622
2,518
95.125
89,140
95,125
INCOME FROM CHARI'fABLE ACTIVITIES
31.10.24
Annual
Agricultural
Show
31.10.23
Totsl
activities
Show Income
Government Grants
387.210
382,752
1.000
387
383,752
Grants received, included in the above, are as follows-
31.10.24
JI.10.23
Page 17
ontinued...

Pembrokeshir¢ Agricultural SocSety Ltd
Notes to the Tr inancial Statements eontinued
for the Y¢ar Ended 31 Oetober 2024
RAISING FUNDS
Other trading activities
31.10.24
31.10.23
Staff costs
Bank Charges
Premises Expenqes
Administralivt expenses
Maintenance Costs
Other Direci Cost5
Subsidiary Trading Expenses
Accountancy fees
Bad Debt
Depreciation
38,683
1,373
54,491
11.720
41.870
3,325
10,188
2,238
5.001
41,630
2,068
52,244
8,794
36,019
1,786
18,956
2,140
30,419
180.491
206 173
CHARITABLE ACTIVI'I'IF.S cos'rs
Support
costs (see
note 7)
Direct
Costs
Totals
Annual Agricultural Show
Estates Accounts
400,981
124
27.138
428.119
401.105
40.834
441,939
SUPPORT COSTS
Governanc¢
costs
Manag¢menl
Totals
Annual Agricultura] Show
EsiatQs Accounts
22,244
245
4,894
13,451
27,138
18,345
40.834
NET JNCOMEI(F.XPENDI'I'URE)
Net incomd(cxpenditure) is stated after tihargingl(erediling)'.
31.10.24
31.10.23
Auditors, remuneration
Other non-audit service5
Depreciation - owned assets
2,238
2,414
2,140
2,500
24.976
Page 18
continued...

Pembrokeshire Agricultural Sotiety Ltd
Notes to the Fingncial Statements - eontinued
for the Year Ended 31 October 2024
TRUSTEES, REMUNEIUTION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 October 2024 nor for the year
ended 31 October 2023.
I'rust¢¢s' expenses
There were no trustees, expenses paid for the year ended 31 October 2024 nor for the year ended
31 October 2023.
REMUNERATION RECEIVED BY KEY MANAGEMEIYT PERSONNEL
31.10.24
31.10.23
Wages and salaries
Social security costs
122.706
105,899
125,773
105 899
The average monthly number of employees during the year was as follows..
31.10.24
31.10.23
No employees received emoluments in excess of £60.000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
Restricted
rund
Total
futids
INCOME AIYD ENDOWMENTS Tr"ROM
Charit#ble activities
Annual A8ri¢ultural Show
Estates Accounts
382,752
1,000
382,752
1,000
Other trading activities
LnvL5¢ment income
l36,752
95.125
3.826
140,578
Total
615 629
3.826
619,455
EXPENDITURE ON
Raising funds
206,173
206,173
Charitable aetivities
Annual Agricultural Show
Estates ALLuunts
366,076
11242
3,826
369,902
11.242
Total
583 491
3.826
587,317
Page 19
continued...

Pembrokeshire Agricultural Society Ltd
Notes to the Fillancial Statements - Cotttinued
for the Year EDd¢d 31 October 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES_ continued
Unrestric*d
Rcstricted
fund
fund
Total
funds
NET INCOME
32.138
32,138
RECONCILIATION OF FUNDS
Total funds brought forward
4,117,450
4,117,450
TOTAL FUNDS CARRIED FORWARD
4 149 588
4,149 588
12.
TANGIBLE FIXLD ASSETS
Freehold
property
Plant and
machinery
Tractors
COST
At l November 2023
Addition5
Disposals
2.659,330
358,023
16,484
5,519
At 31 October 2024
2.659 330
374 178
5.519
DEPRICIATION
At l November 2023
Charge for year
Eliminated on disposal
207,026
21,529
62)
3,254
226
At 31 October 2024
228,493
3,480
NET BOOK VALUE
Al 31 October 2024
2 659,330
145.685
2,039
At 31 October 2023
2 659.330
150,997
2.265
Page 20
continued...

Pembrokeshire A%ricultural Society Ltd
Notes to the Finxneial Statements - eontRnued
for the Year Ended 31 October 2024
12.
'rANGIBLE FIXED ASSETS- continued
PAS
Motor
vehicles
Promotions
Plant
Totals
COST
Ac l November 2023
Additions
Diswsals
38.249
13,476
3,074,597
16,484
1329)
At 31 Octobor 2024
38.249
13,476
3,090,752
DEPRECIATION
At l November 2023
Charge for )'ear
Eliminated on disposa]
21,329
1,692
9,271
920
240,880
24.3()7
At 31 October 2024
10.191
265.185
NET BOOK VAI.U
At 31 October 2024
15,228
3.285
2 825.567
At 31 October 2023
2 833.717
13.
INVESTMENT PROPERTY
FAIR VALUE
AI l NovLmb¢r 2023
and 31 October 2024
1,022 650
NET BOOK VALUE
At 31 October 2024
1,022.650
At 31 October 2023
1,022.650
14.
STOCKS
Cb#rAty
31.10.24
Charity
31.10.23
Group
31.10.24
Group
31.10.23
Stocks
7.925
8,185
7.925
15.
DFB'foRS: AMOUNTS FALLING DUE wi'fHIf4 ONE YEAR
Charity Charity
31.10.24 31.10.23
Group
31.10.24
Group
31.10.23
TradL dcbtors
Other debiors
PAS PromoLion5 Ltd Int¢r co alc
Prepayments
44.940
19,817
14,290
4.642
65,169
30,566
16.169
44.790
21,815
70,182
32,714
116,537
71.247
107 529
Page 21
continued...

Pembrokeshire Agricultural Socicty Ltd
Notes to the FinAncial Statements - continued
for the Year Ended 31 October 2024
16.
CREDITORS: A.ThqOUNTS FALLING DUE WITHIN ONE YbAR
Charity
Charity
31.10.24
31.10.23
Group
31.10.24
Group
31.10.23
Bank loans and overdrafts (see note 18)
Trade creditors
Social security and other taxes
VAT
Other creditors
Accrued expenses
A￿rUed Income
5.556
14,410
1,895
16,045
32.498
25.757
5,556
39.253
1,695
32,528
35.296
21,751
4,480
7.718
14,410
1,895
21,379
32,498
36,609
7,718
39,253
1.695
35.528
35,296
32,554
4,480
96.161
140,559
114.509
156,524
17.
CREDITORS: AMOUNI'S ￿Al,LING DUE AFTER MOR Tr; TIIAN ONE YEAR
Charity
Charity
Group
31.10.24
31.10.23
31.10.24
Group
31.10.23
Bank loans (see note 18)
36,717
18.
LOANS
An analysi5 of the maturity of loans is given below:
31.10.24
31.10.23
Amounts falling due within one year on demand..
Bank loans
7.718
AtTLounts falling between onc and ttvo years=
Bdnk Ic)ans - 1-2 years
7.718
7.718
Amounts falling due between two and five years:
Bank loans - 2-5 years
23,152
23.152
Amounts falling due in more than five years..
Repayable by instalments:
Bank loans more 5 yr by instal
5,847
13,474
19.
SECURED DEBTS
The following secured debts are included within creditors:
31.10.24
31.10.23
The charities bank has a charge over a parcel of land of 21 acre5 as security on the charilies overdraft facility.
Page 22
continued...

Pembroke5hire Agricultural Society Ltd
Notes to the FinanciAI Statements - co￿tInUed
for the Year FJnded 31 Oetober 2024
20.
MOVkMENT IN FUINDS
Net
movement
in funds
At
1.11.23
At
31.10.24
Unrestrieted funds
General fund
4,149,588
{35,164)
4,114,424
TOTAL FUNDS
4 149 588
3).164)
4,114,424
Net movement in funds. included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in fund5
Unrestricted funds
General fund
580,475
1615,639)
(35,164)
Re5trieted funds
Food Story
6,791
(6.791)
TOTAL FUNDS
587,266
622.430)
Comparalives for movemtnt in funds
Net
movement
in funds
At
l.Ll.22
At
31.10.23
Unrestricted funds
General fund
4,117,450
32,138
4,149,588
TOTAL FUNDS
4.117450
32,138
4.149 588
Comparative net movement in funds, included in Ihe above are as Follows..
Incoming
resources
Resourc¢s
expLndcd
Movement
in funds
Unrestriet¢d funds
General fund
615,629
{583,491)
32,138
Restricted funds
Food Story
3,826
(3,826)
TOTAL FUNDS
619,455
5x7.317)
Page 23
continued...

Pembrokeshire Agricvltural Society Ltd
Note5 to the Financial Statements - continued
for the Year Ended 31 Oetober 2024
20.
MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
At
-11.22
At
31.10.24
Unrestricted funds
General fund
4.117,450
(3.026)
4,114,424
TOTAL FUNDS
4,117,450
13.026)
4l14424
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are
as follows..
Inwming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
I,E96,104
(1,199,130)
(3.026)
Restricted funds
Food Story
10,617
{10,617}
TOTAL FUNDS
1206 721
(1209,747)
3.026}
21.
CAPITAL COMMII"MLN'I"S
31.10.24
31.10.23
Contracted but not providcd for in the financial Swements
22,119
22.
RELATF.D PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2024.
23.
TRUSTEES EXPENSES
The Trustees of Pembrokeshire Agriculiural Society Limited have not incutTed any expenses during the period.
24.
GOING CONCERN POLICY
The Trustees of Pembrokeshire Agricultural Society Limited have rcviewed the post year end financial
performance, expected perforniance and the charity is expected to hai'¢ adequate resources to continue in
existence for the foreseeable future as such believe it is appropriate to adopt the going concern basis of
a¢¢ounting in preparing the financial statetnents. In making their assessment the Iruslees have considered a
period of at least 12 months trom the date of the approval of these financial documents.
Page 24

Pembrokeshire Agriculturxl Society Ltd
Notes to the Finantial 8ta¢emellts - continued
ror the Year bjnded 31 Oetober 2024
25.
GOVERNMENT GRANT POLICY
A grant that specified perfoTmance condition5 is recognised in income when the performance condilioiis
are met. Where a grant does not specify perfomiancc conditions it is re¢ognised in income when the
proceeds are received or receivable. A grant received before recognition criteria are satisfied is recognised
as a liability.
26.
FRC E'I'IIICAL STANDARD- PROVISIONS AVAILABLE FOR SMALL ENTITIES
In common with many other businesses of our size we use our auditors to prepare and submit returns to the
tax authorities and assist with the preparation of financial Statements.
27.
RE8TRICTkD FUNDS
The reslricled tunds to Food Story as detailed in the trustees report.
28.
AUDITORS RENUMERATION
Charges included in these accounts in respect of audit renumeration amounted to £2,238 (2023 £2,500),
other lees in respect of the preparation of the group accounts and consultancy amounted io £4.652 (2023
£4,1240).
28.
SUBSIDARY UNDERTAKING
PAS Promotions lJimited
PAS Promolion5 Limited {Rcgistered in England and Wales. no 01941314) 18 a wholly owned subsidiary
of Pembrukcshire Agricultural Society Limiled. Thc company trades trom thc premises of PLmbrokeshire
Agricultural Society Limited.
Profit and L4)5s Account
Year ended
31.10.24
Year ended
31.10.23
Turnover
Cost of Sales
GROSS PROFIT
Administrative expenses
OPERATING PROFIT / LOSS
Tax on profit I loss
PROFITI LOSS foR THE FINANCIAL YEAR
27,927
807
27.120
22,081
5,039
30,664
506
30,158
4,208
Balance sheet
Year ended
31.10.24
Year ended
31.10.23
Tangible fixed assets
Stocks
Debtor5
Cash at bank
Creditors due within l year
Creditors due after L year
3,284
4,204
807
7,161
29,210
(32,134)
(12,399)
14.225
39,720
(45,014)
(10,328)
Retained reserves
1.887
(3,151)
Page 25

Pembrokeshire Agriellltural Society Ltd
Group Detailed Statement of Finaneial Activities
for the Year Ended 31 October 2024
31.10.24
31.10.23
INCOME AND ENDOWMENTS
Other trading activities
Rental Income & Service Charge
Other Activities
Subsidiary Trading Activity
69,781
13,208
27.927
92.584
17,329
110,916
140,578
Inve5tmetbt ineome
Rents. rcceived
Deposit acLount inter&st
86,622
95,125
89,140
95,125
Charitable activities
.8how Income
Government Grants
387,210
382,752
387,210
383,752
'rotal incoming resouree5
587,266
619,455
EXPENDITURE
Other trading activitles
Wage5
Social security
Bank Charge8
Premises Expenses
Adminibtrative expenses
Maintenancc Costs
Other Direct Costs
Subsidiary Ti<iding Expenses
AccountanLy fccs
Bad Debt
Dcpreciation of Plant & Machinery
Depreciation of Traulors
Dcprcciation of Motor
37,661
1,022
1,373
54,491
1,720
41,870
3,325
10.188
2,238
5.001
10.643
41,630
2,068
52,244
8,794
36,019
1,786
18,956
2,140
30,419
11,051
126
940
846
180.491
206,173
Charitable activitie5
Wages
Social security
Attractions
Prize Money
Rosettes
Catering
Carried foNard
76,050
2,045
10,046
26.487
10,275
14,356
139,259
64.269
5,600
27.507
8,041
13,798
119,215
This page does not form parl of the Statutory financial 51atemcnts
Page 26

Pembrokeshire AgriculturAI Society Ltd
Croup Detailed St2tem¢nt of Financial Aetivities
for the Year Ended 31 October 2024
31.10.24
31,10.23
Charitable activlties
Brought forwdrd
Security and Parking
Showground Site Infrastructure
Emergency service & Veterinary
Grounds Maintenance
Sanitation and Cleaning
Stock sundries
Fuel & 0115
Judges Expenses
Equipment Hire
Showground repairs
Sub show expenses
Affiliation fees
Donations
Commission
Licences
Show Signs
Goods for resale
Grounds Rent
Computers, Software & Phone
Advertising
Depreciation Plant
Depreciation Tractors
Depreciation Otor
Postsge, Stationery & Printing
139,259
61,965
60,010
14,619
3,970
23,422
755
119.215
42,527
65.607
15,586
4,061
23.692
640
4.366
3,780
19,582
2,986
4,429
3,667
4,706
8,703
602
1,926
219
133
8.845
6.400
11,051
126
940
5,849
16,134
5,84_3
6,556
2,721
6,600
6,759
2.610
168
124
14,447
10,535
10,888
113
846
401,105
363.695
Support C05tS
Management
Wages
Sundries
Bank Charges
Bank Interest paid
8,995
3,406
9,651
437
1,542
4,550
626
22.489
6,718
Governance costs
Auditors, remuneration
Auditors, remuneration for non audit work
Legal and Professional fees
2.238
2,414
13.693
2,140
2,500
6.091
Total resources expended
622,430
587317
Net (expenditure)/incomc
35 164)
This page does not forn) part of the statutory financial sta¢ements
Page 27