Report to the Charity Commission for the Year ending 30th June 2024
Objectives and Activities
Radnor YFC seeks to meet the needs of rural young people through a variety of educational, training and social programmes that encourage community involvement and concern for our environment. 480 young people between the ages of 10 – 28 years have been involved in the federation during the past twelve months. The objectives of the charity are: - To advance the education and personal development of young members of the public at large in agriculture, rural life and affairs, international understanding home crafts, the environment and related subjects and; - In the interests of the social welfare of such members, to provide and promote the provision of facilities for recreation and other leisure time occupations, being facilities, which will improve their spiritual and mental capacities, health and well-being, raise awareness, self- reliance and individual responsibility so that they may develop as individuals into full citizens; - To promote its activities through the medium of Welsh and English and to ensure those activities enhance the members’ understanding and knowledge of Welsh Rural Life, Welsh Culture and the Welsh Language, along with providing an understanding of other cultures.
Radnor YFC was back to running its normal calendar of events with a full year of events, competitions, training and social development of its members supported by a loyal and hardworking team of volunteers.
Reserves policy - The Radnor YFC Executive committee has an agreed a reserves policy.
Achievements
The achievements of the federation were outlined by our County Chairman, Ella Harris.
So, to pick up from where John left off, I’ll start at our 75[th] annual Rally, hosted by Radnor Valley YFC by kind permission of the Williams family, Womaston. The return of the Tug of War Competition was greatly received by members and spectators, despite it pushing overall results late into the evening. It was brilliant to see hosts, Radnor Valley YFC lifting the shield on home turf and winning the Rally for the second year running.
John and I then had a few sleepless nights as we accompanied the Youth Forum on their trip to Oaker Wood, Kingsland. This was the first residential trip for the Youth Forum in a number of years and it has been wonderful to see and assist the Youth Forum return to its former glory.
Then all roads led to Builth for the Royal Welsh Show. With Radnor out in force, we had some fantastic results and gained an incredible 2[nd] place overall. Next was John’s Chairmans Ball which can only be described as wet. It rained and it poured and then it rained some more. The title ‘Only Fools in Radnor’ seemed quite fitting given the horrendous weather, however it didn’t dampen the spirit, and a super time was had by all.
Before I knew it, we were sat in Howey Village Hall and John was handing me the Chain as your new County Chairman, with Sian voted in as Vice-Chair. Straight in at the deep end, Kington Show was upon us with Radnor Valley winning overall. We were once again very fortunate to be given the opportunity by Kington Show Society to run the After Show Dance. Thanks to all the members, officials and friends who turned out to help and steward. Everyone did a cracking job and the marquee was cleaned in record time, raising valuable funds for the federation along the way.
Sian and I then headed down to Cardiff Bay to the Wales YFC AGM where I had the privilege of seconding Montgomeryshires proposal to elect Sarah Lewis as Wales YFC President. A bus load of
members went to Cardiff to support the Wales YFC AGM. Next in the calendar was our County Quiz. Trevor Owens, a great supporter of the Federation stepped up as Quiz Master and did a marvelous job – entertaining all 26 teams. Well done to Howey YFC for putting your thinking caps on and winning the quiz shield. Congratulations to Emily of Rhayader YFC for winning the U16 Floral Art competition for the second year running at the National Floral Art Finals in Malvern.
Then Stock Judging Day was upon us. Anwen Hardwick of Rhayader YFC was crowned Junior Stockman of the year and Will Nixon, Aberedw was crowned Senior Stockman of the year. Soon came our annual Field Day at Glan Elan by kind permission of the Lewis family and hosted by Rhayader YFC. Despite the torrential and continuous rain, the atmosphere was great, and the standard was high. Huge congratulations to Howey YFC for winning overall.
November was a jam-packed month. I jetted off to represent Wales YFC at the Rural Youth Autumn Seminar in Georgia whilst the first lot of Public Speaking Competitions went underway. Congratulations to our winning Junior Member of the Year, Tori of Howey YFC who then went on to win Wales YFC Junior Member of the Year. Elizabeth Swancott, our Senior Member of the Year also went on to Wales and gained 3[rd] place. Well done ladies! A bus full of senior members then headed across the border to Cheltenham Races for some betting and beer. The following week, we were back to formalities with the remainder of our Public Speaking Competitions. Cantal YFC talked their way to the top and won the Public Speaking overall. Then it was time for the juniors to have their fun as a bus load of Youth Forum members headed to Wales Millennium Centre to watch Shrek the Musical.
November and December also saw the comeback of our Winter Sports League. Over 6 weeks, clubs battled it out over numerous games of Dodgeball before Dolau YFC dodged their way to victory. It was then time for members to head back down to Builth for the Royal Welsh Winter Fair. We had some incredible results including Gemma Morris (Llanbadarn) winning U28 Butchers Beef, Thomas Swancott (Teme Valley) winning the Lamb Trimming, Lauren Bufton (Edw Valley) winning the Christmas Card and Geraint Mathais (Howey) winning the ATV competition, leaving us in the 3rd position overall.
Early December brought the Pool & Darts competition in Rhosgoch Golf Club and before we knew it, Christmas was here. Members were busy enough between Carol Singing and Illuminated Tractor Runs, however they still came out in force to support the Presidents Carol Service and Christmas Market which was held at Rhayader Smithfield. Thanks must go to our County Officials, stall holders, Santa and his elves and the fantastic local artists for turning my idea into reality. The support we received was overwhelming and we raised some funds for Rhayader St Johns.
January is usually a quiet month in the YFC calendar but there was nothing quiet about January 2024. Everyone was talking about ‘Radnor YFC does Ally Pally’. Massive shout out and thanks to our S&F Chairman & Vice – Adam Watson & Mark Nixon for having the vision, passion and hard work to make it all happen. Many thanks to Roger Abberley and Will Davies for their help comparing. The night will go down in Radnor history.
Just like that, Drama Week was here. 11 Drama Productions, 9 Times to Shines and 11 One Pluses took to the stage. A massive well done to Teme Valley YFC for winning the Time to Shine Competition and Aberedw B for winning the One Plus Competition and Rhosgoch YFC for winning overall with their original drama entitled ‘Revenge’. Our Drama winners then took to the stage at Theatre Brycheiniog for the Wales YFC Drama Competition. They came away with two nominations and 4[th] place overall, congratulations Rhos!
Wales Public Speaking Day was held on the Showground and in true Radnor style, all of our teams did extremely well. It was then time for the Easter Youth Forum trip to Vertigo in Merthyr to give
trampolining a go. After running and jumping around, the afternoon was rounded off with an obligatory trip to McDonalds. To give those that were still lambing a break, mid-April 60 of our members & supporters ventured across the border, into Montgomeryshire to Glan Bechan Farm. Gwyn Evans of Bettws Hall gave us a tour of his impressive Stabiliser Unit and the evening was rounded off at the Bull & Heifer pub with burgers, chips and great hospitality. Thank you to Farming Connect for contributing financially towards the evening.
For those that didn’t know, lambing in Radnor officially ended on 20[th] April as 70 senior members ditched their wellies and leggings and hit Hereford for their ‘post lambing social’. If April hadn’t been busy enough already, it was our turn to host Wales YFC Field Day. Big thanks must go to the Lewis Family, Glan Elan for allowing us the use of their fields and Rhayader Smithfield Trust for allowing us use of the market (again!). Radnor were on fire and had some superb results, which resulted in us winning overall – a super achievement on home turf! Congratulations to all that competed – you should be extremely proud. Massive thank you to all those who helped us in hosting the event, we are very grateful for everyone’s support.
Sadly, my time as Chairman is rapidly drawing to a close. Until actually sitting down and reflecting on the year so far, it’s easy to forget about all the amazing things we have done as a County and the outstanding achievements we have gained. My main ambition this year was to give our members even more opportunities and social events – so I hope you as members have enjoyed the trip to Cheltenham Races, Shrek the Musical, our Winter Sports League, Presidents Carol Service and Stabiliser Farm Tour as much as I have.
However, none of this would have been possible, without the continuous efforts from Delyth & Lauren in the Office. Thank you for all that you do – it does not go unnoticed, and we really do appreciate it. Huge thanks must also go to the Committees for all your hard work so far this year. Thank you to all the County Officials, Club Officials, parents, helpers, supporters and most importantly the members, because without you Radnor YFC would not exist.
Finally, I would like to thank Lloyd, Mum, Dad & Family for helping me fulfill the wonderful opportunity that becoming County Chairman is (and listening to all my crazy ideas!). It has been an immense honour, for which I am truly grateful for. My year ended with my Bow Ties and Boots Charity Ball on Friday 5[th] July at Hendre, Felindre, where we raised an incredible £18,000 for two wonderful charities - Birmingham Children’s & Women’s Hospital and Cystic Fibrosis Trust.
REGISTERED COMPANY NUMBER: CE003999 (England and Wales) REGISTERED CHARITY NUMBER: 1161446
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 30 June 2024
for
RADNOR FEDERATION OF YOUNG FARMERS CLUB
N E Sears ATT NESTAX Limited 9 Church Street Builth Wells Powys LD2 3AP
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Contents of the Financial Statements FOR THE YEAR ENDED 30 JUNE 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Report of the Trustees FOR THE YEAR ENDED 30 JUNE 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
CE003999 (England and Wales)
Registered Charity number
1161446
Registered office
Unit 5 Ddole Road Industrial Estate Llandrindod Wells Powys LD1 6DF
Trustees
J James (resigned 22.8.23) Miss E Harris Miss S Davies (appointed 22.8.23)
Independent Examiner
N E Sears ATT NESTAX Limited 9 Church Street Builth Wells Powys LD2 3AP
Approved by order of the board of trustees on 20 August 2024 and signed on its behalf by:
Miss E Harris - Trustee
Page 1
Independent Examiner's Report to the Trustees of Radnor Federation of Young Farmers Clubs
Independent examiner's report to the trustees of Radnor Federation of Young Farmers Clubs ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
N E Sears ATT
N E Sears ATT NESTAX Limited 9 Church Street Builth Wells Powys LD2 3AP
20 August 2024
Page 2
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Statement of Financial Activities FOR THE YEAR ENDED 30 JUNE 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 29,465 Other trading activities 2 147,727 Investment income 3 9,059 Total 186,251 EXPENDITURE ON Raising funds 4 177,055 Charitable activities Sundry grants paid 5,478 Total 182,533 NET INCOME/(EXPENDITURE) 3,718 RECONCILIATION OF FUNDS Total funds brought forward 176,946 TOTAL FUNDS CARRIED FORWARD 180,664 |
Restricted Endowment fund fund £ £ - - - - - - - - - - - - - - - - 179,447 100,000 179,447 100,000 |
2024 Total funds £ 29,465 147,727 9,059 186,251 177,055 5,478 182,533 3,718 456,393 460,111 |
2023 Total funds £ 42,748 126,433 3,644 172,825 180,169 2,065 182,234 (9,409) 465,802 456,393 |
|---|---|---|---|
The notes form part of these financial statements
Page 3
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Balance Sheet 30 JUNE 2024
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 86,162 CURRENT ASSETS Cash at bank and in hand 98,516 CREDITORS Amounts falling due within one year 9 (4,014) NET CURRENT ASSETS 94,502 TOTAL ASSETS LESS CURRENT LIABILITIES 180,664 NET ASSETS 180,664 FUNDS 10 Unrestricted funds Restricted funds Endowment funds TOTAL FUNDS |
Restricted Endowment fund fund £ £ 3,852 - 175,595 100,000 - - 175,595 100,000 179,447 100,000 179,447 100,000 |
2024 Total funds £ 90,014 374,111 (4,014) 370,097 460,111 460,111 180,664 179,447 100,000 460,111 |
2023 Total funds £ 83,589 376,313 (3,509) 372,804 456,393 456,393 176,946 179,447 100,000 |
|---|---|---|---|
| 456,393 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) 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 its 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 Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 20 August 2024 and were signed on its behalf by:
J James - Trustee
The notes form part of these financial statements
Page 4
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Notes to the Financial Statements FOR THE YEAR ENDED 30 JUNE 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Page 5
continued...
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2024
| 2. OTHER TRADING ACTIVITIES Activities & fundraising Youth Forum shop income Wales YFC 200 Club 3. INVESTMENT INCOME Room hire Bank interest received 4. RAISING FUNDS Raising donations and legacies Staff costs Equipment rental Premises costs Telephone Office, IT and advert costs Sundries Depreciation Levy Support costs 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Equipment rental |
2024 £ 142,946 17 2,444 2,320 147,727 2024 £ 3,135 5,924 9,059 2024 £ 51,251 189 3,943 1,645 3,584 3,885 5,822 15,032 - 85,351 2024 £ 5,822 189 |
2023 £ 119,445 2,386 2,144 2,458 |
2023 £ 119,445 2,386 2,144 2,458 |
|---|---|---|---|
| 126,433 | |||
| 2023 £ 1,099 2,545 3,644 2023 £ 43,603 631 2,184 1,337 3,968 1,911 3,238 14,153 3,678 |
|||
| 74,703 | |||
| 2023 £ 3,238 631 |
Page 6
continued...
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2024
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 42,748 Other trading activities 126,433 Investment income 3,644 Total 172,825 EXPENDITURE ON Raising funds 180,169 Charitable activities Sundry grants paid 2,065 Total 182,234 NET INCOME/(EXPENDITURE) (9,409) RECONCILIATION OF FUNDS Total funds brought forward 186,355 TOTAL FUNDS CARRIED FORWARD 176,946 |
Restricted Endowment fund fund £ £ - - - - - - - - - - - - - - - - 179,447 100,000 179,447 100,000 |
Total funds £ 42,748 126,433 3,644 172,825 180,169 2,065 182,234 (9,409) 465,802 456,393 |
|---|---|---|
continued...
Page 7
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2024
8. TANGIBLE FIXED ASSETS
| Freehold property £ COST At 1 July 2023 83,187 Additions - At 30 June 2024 83,187 DEPRECIATION At 1 July 2023 5,320 Charge for year 1,330 At 30 June 2024 6,650 NET BOOK VALUE At 30 June 2024 76,537 At 30 June 2023 77,867 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors 10. MOVEMENT IN FUNDS At 1.7.23 £ Unrestricted funds General fund 176,946 Restricted funds Restricted fund 179,447 Endowment funds Endowment fund 100,000 TOTAL FUNDS 456,393 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 186,251 TOTAL FUNDS 186,251 |
Plant and machinery Totals £ £ 16,801 99,988 12,247 12,247 29,048 112,235 11,079 16,399 4,492 5,822 15,571 22,221 13,477 90,014 5,722 83,589 2024 2023 £ £ 4,014 3,509 Net movement At in funds 30.6.24 £ £ 3,718 180,664 - 179,447 - 100,000 3,718 460,111 Resources Movement expended in funds £ £ (182,533) 3,718 (182,533) 3,718 |
|---|---|
continued...
Page 8
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2024
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.7.22 £ Unrestricted funds General fund 186,355 Restricted funds Restricted fund 179,447 Endowment funds Endowment fund 100,000 TOTAL FUNDS 465,802 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 172,825 TOTAL FUNDS 172,825 |
Net movement At in funds 30.6.23 £ £ (9,409) 176,946 - 179,447 - 100,000 (9,409) 456,393 Resources Movement expended in funds £ £ (182,234) (9,409) (182,234) (9,409) |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted fund Endowment funds Endowment fund TOTAL FUNDS |
At 1.7.22 £ 186,355 179,447 100,000 465,802 |
Net movement in funds £ (5,691) - - (5,691) |
At 30.6.24 £ 180,664 179,447 100,000 |
|---|---|---|---|
| 460,111 |
continued...
Page 9
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2024
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 359,076 359,076 |
Resources Movement expended in funds £ £ (364,767) (5,691) (364,767) (5,691) |
|---|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2024.
Page 10
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Detailed Statement of Financial Activities FOR THE YEAR ENDED 30 JUNE 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Levy income Grants Other trading activities Activities & fundraising Youth Forum shop income Wales YFC 200 Club Investment income Room hire Bank interest received Total incoming resources EXPENDITURE Raising donations and legacies Wages Repairs & maintenance Equipment rental Premises costs Telephone Office, IT and advert costs Sundries Freehold property Plant and machinery Levy Other trading activities Fund raising costs 200 Club prizes Charitable activities Grants to institutions Carried forward |
2024 £ 300 15,181 13,984 29,465 142,946 17 2,444 2,320 147,727 3,135 5,924 9,059 186,251 40,619 10,632 189 3,943 1,645 3,584 3,885 1,330 4,492 15,032 85,351 91,204 500 91,704 1,211 1,211 |
2023 £ 550 8,713 33,485 |
|---|---|---|
| 42,748 119,445 2,386 2,144 2,458 |
||
| 126,433 1,099 2,545 |
||
| 3,644 | ||
| 172,825 42,253 1,350 631 2,184 1,337 3,968 1,911 1,330 1,908 14,153 |
||
| 71,025 105,091 375 |
||
| 105,466 560 560 |
This page does not form part of the statutory financial statements
Page 11
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Detailed Statement of Financial Activities FOR THE YEAR ENDED 30 JUNE 2024
| Charitable activities Brought forward Grants to individuals Support costs Governance costs Bank charges Honorarium Accountancy Total resources expended Net income/(expenditure) |
2024 £ 1,211 500 1,711 629 - 3,138 3,767 182,533 3,718 |
2023 £ 560 500 1,060 1,005 560 3,118 4,683 182,234 (9,409) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 12
REGISTERED COMPANY NUMBER: CE003999 (England and Wales) REGISTERED CHARITY NUMBER: 1161446
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 30 June 2024
for
RADNOR FEDERATION OF YOUNG FARMERS CLUB
N E Sears ATT NESTAX Limited 9 Church Street Builth Wells Powys LD2 3AP
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Contents of the Financial Statements FOR THE YEAR ENDED 30 JUNE 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Report of the Trustees FOR THE YEAR ENDED 30 JUNE 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
CE003999 (England and Wales)
Registered Charity number
1161446
Registered office
Unit 5 Ddole Road Industrial Estate Llandrindod Wells Powys LD1 6DF
Trustees
J James (resigned 22.8.23) Miss E Harris Miss S Davies (appointed 22.8.23)
Independent Examiner
N E Sears ATT NESTAX Limited 9 Church Street Builth Wells Powys LD2 3AP
Approved by order of the board of trustees on 20 August 2024 and signed on its behalf by:
Miss E Harris - Trustee
Page 1
Independent Examiner's Report to the Trustees of Radnor Federation of Young Farmers Clubs
Independent examiner's report to the trustees of Radnor Federation of Young Farmers Clubs ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
N E Sears ATT
N E Sears ATT NESTAX Limited 9 Church Street Builth Wells Powys LD2 3AP
20 August 2024
Page 2
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Statement of Financial Activities FOR THE YEAR ENDED 30 JUNE 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 29,465 Other trading activities 2 147,727 Investment income 3 9,059 Total 186,251 EXPENDITURE ON Raising funds 4 177,055 Charitable activities Sundry grants paid 5,478 Total 182,533 NET INCOME/(EXPENDITURE) 3,718 RECONCILIATION OF FUNDS Total funds brought forward 176,946 TOTAL FUNDS CARRIED FORWARD 180,664 |
Restricted Endowment fund fund £ £ - - - - - - - - - - - - - - - - 179,447 100,000 179,447 100,000 |
2024 Total funds £ 29,465 147,727 9,059 186,251 177,055 5,478 182,533 3,718 456,393 460,111 |
2023 Total funds £ 42,748 126,433 3,644 172,825 180,169 2,065 182,234 (9,409) 465,802 456,393 |
|---|---|---|---|
The notes form part of these financial statements
Page 3
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Balance Sheet 30 JUNE 2024
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 86,162 CURRENT ASSETS Cash at bank and in hand 98,516 CREDITORS Amounts falling due within one year 9 (4,014) NET CURRENT ASSETS 94,502 TOTAL ASSETS LESS CURRENT LIABILITIES 180,664 NET ASSETS 180,664 FUNDS 10 Unrestricted funds Restricted funds Endowment funds TOTAL FUNDS |
Restricted Endowment fund fund £ £ 3,852 - 175,595 100,000 - - 175,595 100,000 179,447 100,000 179,447 100,000 |
2024 Total funds £ 90,014 374,111 (4,014) 370,097 460,111 460,111 180,664 179,447 100,000 460,111 |
2023 Total funds £ 83,589 376,313 (3,509) 372,804 456,393 456,393 176,946 179,447 100,000 |
|---|---|---|---|
| 456,393 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) 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 its 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 Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 20 August 2024 and were signed on its behalf by:
J James - Trustee
The notes form part of these financial statements
Page 4
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Notes to the Financial Statements FOR THE YEAR ENDED 30 JUNE 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Page 5
continued...
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2024
| 2. OTHER TRADING ACTIVITIES Activities & fundraising Youth Forum shop income Wales YFC 200 Club 3. INVESTMENT INCOME Room hire Bank interest received 4. RAISING FUNDS Raising donations and legacies Staff costs Equipment rental Premises costs Telephone Office, IT and advert costs Sundries Depreciation Levy Support costs 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Equipment rental |
2024 £ 142,946 17 2,444 2,320 147,727 2024 £ 3,135 5,924 9,059 2024 £ 51,251 189 3,943 1,645 3,584 3,885 5,822 15,032 - 85,351 2024 £ 5,822 189 |
2023 £ 119,445 2,386 2,144 2,458 |
2023 £ 119,445 2,386 2,144 2,458 |
|---|---|---|---|
| 126,433 | |||
| 2023 £ 1,099 2,545 3,644 2023 £ 43,603 631 2,184 1,337 3,968 1,911 3,238 14,153 3,678 |
|||
| 74,703 | |||
| 2023 £ 3,238 631 |
Page 6
continued...
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2024
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 42,748 Other trading activities 126,433 Investment income 3,644 Total 172,825 EXPENDITURE ON Raising funds 180,169 Charitable activities Sundry grants paid 2,065 Total 182,234 NET INCOME/(EXPENDITURE) (9,409) RECONCILIATION OF FUNDS Total funds brought forward 186,355 TOTAL FUNDS CARRIED FORWARD 176,946 |
Restricted Endowment fund fund £ £ - - - - - - - - - - - - - - - - 179,447 100,000 179,447 100,000 |
Total funds £ 42,748 126,433 3,644 172,825 180,169 2,065 182,234 (9,409) 465,802 456,393 |
|---|---|---|
continued...
Page 7
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2024
8. TANGIBLE FIXED ASSETS
| Freehold property £ COST At 1 July 2023 83,187 Additions - At 30 June 2024 83,187 DEPRECIATION At 1 July 2023 5,320 Charge for year 1,330 At 30 June 2024 6,650 NET BOOK VALUE At 30 June 2024 76,537 At 30 June 2023 77,867 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors 10. MOVEMENT IN FUNDS At 1.7.23 £ Unrestricted funds General fund 176,946 Restricted funds Restricted fund 179,447 Endowment funds Endowment fund 100,000 TOTAL FUNDS 456,393 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 186,251 TOTAL FUNDS 186,251 |
Plant and machinery Totals £ £ 16,801 99,988 12,247 12,247 29,048 112,235 11,079 16,399 4,492 5,822 15,571 22,221 13,477 90,014 5,722 83,589 2024 2023 £ £ 4,014 3,509 Net movement At in funds 30.6.24 £ £ 3,718 180,664 - 179,447 - 100,000 3,718 460,111 Resources Movement expended in funds £ £ (182,533) 3,718 (182,533) 3,718 |
|---|---|
continued...
Page 8
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2024
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.7.22 £ Unrestricted funds General fund 186,355 Restricted funds Restricted fund 179,447 Endowment funds Endowment fund 100,000 TOTAL FUNDS 465,802 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 172,825 TOTAL FUNDS 172,825 |
Net movement At in funds 30.6.23 £ £ (9,409) 176,946 - 179,447 - 100,000 (9,409) 456,393 Resources Movement expended in funds £ £ (182,234) (9,409) (182,234) (9,409) |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted fund Endowment funds Endowment fund TOTAL FUNDS |
At 1.7.22 £ 186,355 179,447 100,000 465,802 |
Net movement in funds £ (5,691) - - (5,691) |
At 30.6.24 £ 180,664 179,447 100,000 |
|---|---|---|---|
| 460,111 |
continued...
Page 9
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2024
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 359,076 359,076 |
Resources Movement expended in funds £ £ (364,767) (5,691) (364,767) (5,691) |
|---|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2024.
Page 10
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Detailed Statement of Financial Activities FOR THE YEAR ENDED 30 JUNE 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Levy income Grants Other trading activities Activities & fundraising Youth Forum shop income Wales YFC 200 Club Investment income Room hire Bank interest received Total incoming resources EXPENDITURE Raising donations and legacies Wages Repairs & maintenance Equipment rental Premises costs Telephone Office, IT and advert costs Sundries Freehold property Plant and machinery Levy Other trading activities Fund raising costs 200 Club prizes Charitable activities Grants to institutions Carried forward |
2024 £ 300 15,181 13,984 29,465 142,946 17 2,444 2,320 147,727 3,135 5,924 9,059 186,251 40,619 10,632 189 3,943 1,645 3,584 3,885 1,330 4,492 15,032 85,351 91,204 500 91,704 1,211 1,211 |
2023 £ 550 8,713 33,485 |
|---|---|---|
| 42,748 119,445 2,386 2,144 2,458 |
||
| 126,433 1,099 2,545 |
||
| 3,644 | ||
| 172,825 42,253 1,350 631 2,184 1,337 3,968 1,911 1,330 1,908 14,153 |
||
| 71,025 105,091 375 |
||
| 105,466 560 560 |
This page does not form part of the statutory financial statements
Page 11
RADNOR FEDERATION OF YOUNG FARMERS CLUBS
Detailed Statement of Financial Activities FOR THE YEAR ENDED 30 JUNE 2024
| Charitable activities Brought forward Grants to individuals Support costs Governance costs Bank charges Honorarium Accountancy Total resources expended Net income/(expenditure) |
2024 £ 1,211 500 1,711 629 - 3,138 3,767 182,533 3,718 |
2023 £ 560 500 1,060 1,005 560 3,118 4,683 182,234 (9,409) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 12