Amherst & Shapland Limited
DUNSTER SHOW SOCIETY
Charitable Incorporated Organisation
Registered Charity No 1167137
REPORT AND ACCOUNTS
FOR THE YEAR ENDED
31 October 2023
Minehead
Chartered Accountants
DUNSTER SHOW SOCIETY
Registered Charity No 1167137
ACCOUNTS FOR THE YEAR ENDED 31 October 2023
| Page 1 - 4 5 6 7 8 – 9 |
Contents Report of the Trustees Independent Examiner’s Report Receipts and Payments Accounts Statement of Assets and Liabilities Notes to the Accounts |
|---|---|
DUNSTER SHOW SOCIETY
1
REPORT OF THE TRUSTEES
Registered Number: 1167137
FOR THE YEAR ENDED 31 October 2023
REFERENCE AND ADMINISTRATION
PRESIDENT
Mrs A Western
TRUSTEES
Trustees who served during the year were:-
Chairman
Mr R J Richmond
Vice-Chairman Mr J H Brewer
Mrs F E A’brook Mr T Ball Mrs V Browne Mr D Butt Mr C P Clements Mr M R Collins Mrs N Cottrell Mr R Criddle Mrs H Crockford (appointed 23 November 2022) Mr R Delve Mrs J Fewings Mr G L Fuller (resigned 13 February 2023) Mr R J Harding Miss J Hewlett Mrs M Hill Mr C Hutchings Mr P Mann Mr A Schofield Mr B Scott Mrs E A Scott Mr J Scott Mr M Scott Mr M R Scott Mr V Sellick Mr C Shapland (resigned 23 November 2022) Mr C M Thomas Mrs J Thomas Mrs E Webber Mr I White
DUNSTER SHOW SOCIETY
2
Registered Number: 1167137
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 October 2023
REFERENCE AND ADMINISTRATION (cont’d)
SOLICITORS
Messrs Thorne Segar, 3 Bancks Street, MINEHEAD, Somerset, TA24 5DE
PRINCIPAL OFFICE
1 Bancks Street, MINEHEAD, Somerset, TA24 5DJ
BANK
CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ
ACCOUNTANTS
Amherst & Shapland Limited, Chartered Accountants, 4 Irnham Road, MINEHEAD, Somerset, TA24 5DG
STOCKBROKERS
Messrs J M Finn & Co, 31 Great George Street, BRISTOL, BS1 5QD
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Society is a Charitable Incorporated Organisation (CIO) established by a Constitution dated 16[th] May 2016.
MANAGEMENT
The general management of the Society is undertaken by charity trustees (the Trustees) comprising minimum of three natural persons.
One third of the Trustees form a quorum at meetings of the Trustees
None of the Trustees are remunerated as a result of their position.
Trustees are elected by members of the CIO at the AGM. One third of the Trustees retire by rotation at the AGM and shall be eligible for reappointment.
3
DUNSTER SHOW SOCIETY
Registered Number: 1167137
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 October 2023
REFERENCE AND ADMINISTRATION (cont’d)
MANAGEMENT (cont’d)
The following officers have been appointed by the Trustees:-
| Secretary | Mrs R Langdon | (retired 1 April 2023) |
|---|---|---|
| Mrs P Vile | (appointed 1 April 2023) | |
| Assistant Secretary | Mrs R Langdon | (appointed 1 April, retired 31 August 2023) |
| Treasurer | D Stone MA, FCA |
The Secretary, Assistant Secretary and Treasurer are remunerated for their services.
MEMBERSHIP
Members of the Society are expected to pay the appropriate class of subscription in January each year.
The greater of 2% or 3 members shall form a quorum at general meetings.
OBJECTS AND AIMS
The objects of the CIO are to improve, promote and encourage agriculture for the public benefit by the improvement of the breeding of horses, cattle and sheep and the demonstration, exhibition and showing of livestock, machinery, crafts, products, methods and processes connected with agriculture and agricultural education in particular by holding an annual agricultural show and supporting students undertaking land based vocational courses by way of annual bursaries.
PUBLIC BENEFIT
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
ACHIEVEMENTS AND PERFORMANCE
As can be seen from the Receipts and Payments Account on page 6, the Society had net payments for the year of £10,426 after making bursary payments in the year of £13,000.
The main fund raising event of the Society, the 175[th] Dunster Show, was held in August 2023. The Society would not be able to run Dunster Show to the standard it does without the substantial voluntary assistance from trustees, members and supporters.
DUNSTER SHOW SOCIETY
4
REPORT OF THE TRUSTEES
Registered Number: 1167137
FOR THE YEAR ENDED 31 October 2023
FINANCIAL REVIEW
INVESTMENT POWERS
The Society’s constitution does not mention specific investment powers. Investment decisions are referred to the full Committee.
INVESTMENT POLICY
Investments have been made with the advice of stockbrokers, Messrs J M Finn & Co, Bristol. The Society requested their advisors to produce a balanced return from income and capital growth and that they would accept a medium risk. The Society currently invests in funds specific to charities. The value of the portfolio has decreased by £6,162 and now stands at £88,278 (2022 - £94,440).
MONETARY RESERVES
The Society retains free reserves that are approximately equivalent to the cost of two cancelled shows, together with a contingency of no more than £100,000 to cover the cost of a potential uninsured claim.
MAJOR RISKS
An agricultural show’s main risk is the close proximity to each other of the public, animals and machinery. The Society is insured against all foreseeable risks.
The Society conforms to all Health and Safety and animal handling legislation and keeps procedures under review.
Financial risk is controlled through budgeting, planning and insurance such that the risk of financial loss is minimal and the Society would be able to meet all its commitments.
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees have the responsibility for:-
-
i) ensuring that the Society keeps proper accounting records;
-
ii) preparing accounts which give a true and fair view of the state of affairs of the Society as at the end of the financial year and of its surplus or deficit for the financial year in accordance with current accounting standards;
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iii) safeguarding the assets of the Society and hence for taking reasonable steps for the prevention of financial or other irregularities;
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iv) undertaking a risk assessment of the Society activities and acting to protect members, employees and members of the public; and
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v) ensuring that the Society complies with the public benefit statement set out in the 2011 Charities Act.
Signed
MR R J RICHMOND 27 November 2023
Chairman
DUNSTER SHOW SOCIETY
5
INDEPENDENT EXAMINER’S REPORT
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF DUNSTER SHOW
SOCIETY
I report to the charity trustees on my examination of the accounts of the CIO for the year ended 31 October 2023 which are set out on pages 6 to 9.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records.
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.
2 February 2024
K H D PRESTON FCA TEP
CHARTERED ACCOUNTANT
Amherst & Shapland Limited Chartered Accountants 4 Irnham Road Minehead TA24 5DG
6
DUNSTER SHOW SOCIETY Registered Number: 1167137
Receipts and Payments Account for the year ended 31 October 2023
| RECEIPTS AND PAYMENTS Receipts Donations Fundraising event: Show income(Note 1) Book sales Interest Other investment income Members’ subscriptions Sub total Asset and investment disposals: JM Finn investment Sub total Total receipts Payments Fundraising event costs: Show expenses(Note 2) Sub total Asset and investment purchases: Equipment (hurdles, track matts) Office equipment JM Finn investment Sub total Total payments Net of receipts/(payments) Cash funds last year end Cash funds this year end Admin salaries and NI Staff pension contributions Accounts and Independent Examination Investment management fees Grants paid Bursaries paid |
Unrestricted £ 43 143,751 50 2,952 3,049 21,590 |
Restricted £ - - - - - - 2023 |
Total Funds £ 43 143,751 50 2,952 3,049 21,590 171,435 9,500 9,500 180,935 139,927 179,366 1,718 1,709 8,568 11,995 191,361 (10,426) 115,083 £104,657 24,325 374 840 900 - 13,000 |
Unrestricted £ 10 129,412 40 147 2,723 19,449 |
Restricted £ 2,000 - - - - - 2022 |
Total Funds £ 2,010 129,412 40 147 2,723 19,449 |
||
|---|---|---|---|---|---|---|---|---|
| 171,435 | - | 151,781 | 2,000 | 153,781 | ||||
| 9,500 | - | 5,335 | - | 5,335 | ||||
| 9,500 | - | 5,335 | - | 5,335 | ||||
| 180,935 | - | 157,116 | 2,000 | 159,116 | ||||
| 139,927 24,325 374 840 900 - 13,000 |
- - - - - - - |
111,287 29,582 427 420 909 - 12,000 |
- - - - - - 2,000 |
111,287 29,582 427 420 909 - 14,000 |
||||
| 179,366 | - | 154,625 | 2,000 | 156,625 | ||||
| 1,718 1,709 8,568 |
- - - |
- - 4,563 |
- - - |
- - 4,563 |
||||
| 11,995 | - | 4,563 | - | 4,563 | ||||
| 191,361 | - | 159,188 | 2,000 | 161,188 | ||||
| (10,426) | - | (2,072) | - | (2,072) | ||||
| 115,083 | - | 117,155 | - | 117,155 | ||||
| £104,657 | - | £115,083 | - | £115,083 |
7
DUNSTER SHOW SOCIETY
Registered Number: 1167137 Statement of Assets and Liabilities at 31 October 2023
| Cash funds National Westminster Accounts CAF Deposit and Reserve Accounts Petty Cash JM Finn Deposit Account Total cash funds Other monetary assets Sundry debtors Investment assets JM Finn & Co Ltd Dunster Show Trading Ltd £1 ordinary share Assets retained for the Society's own use Showground equipment (hurdles, track matts) Office equipment Liabilities Advert commission PAYE deductions Showground expenses Showground equipment |
Cost 89,925 1 |
2023 Unrestricted £ 1,126 68,542 34,572 124 293 £104,657 £3,922 2023 Current value 88,278 - £88,278 2023 (at cost) 20,037 2,298 £22,335 £4,463 2023 1,646 145 825 1,847 |
2023 Unrestricted £ 1,126 68,542 34,572 124 293 £104,657 £3,922 2023 Current value 88,278 - £88,278 2023 (at cost) 20,037 2,298 £22,335 £4,463 2023 1,646 145 825 1,847 |
Cost 91,803 1 |
2022 Unrestricted £ 59 19,176 95,711 245 (108) |
2022 Unrestricted £ 59 19,176 95,711 245 (108) |
2022 Unrestricted £ 59 19,176 95,711 245 (108) |
||
|---|---|---|---|---|---|---|---|---|---|
| £115,083 | |||||||||
| £515 | |||||||||
| 2022 Current value 94,440 - |
|||||||||
| £89,926 | £91,804 | £94,440 | |||||||
| 2022 (at cost) 17,089 589 |
|||||||||
| £17,678 | |||||||||
| 2022 547 701 - - |
|||||||||
| £1,248 |
These financial statements were approved by the trustees on the 27 November 2023 and are signed on their behalf by:
R J RICHMOND
……………………………………………
Trustee
……………………………………………
J BREWER
Trustee
8
DUNSTER SHOW SOCIETY
Registered Number: 1167137
Notes to the Accounts for the year ended 31 October 2023
| 1 2 |
SHOW INCOME Entry fees Gate takings Trade Stands Catering concessions Sponsorship Schedule & Catalogue SHOW EXPENSES Prize Money Rosettes, Badges, Cups and Engravings Judges Advertising Printing and Stationery Telephone and Postage Catalogue and schedule Subscriptions Ambulance cover LIHS Levy Showground expenses (Note 3) Entertainment (Note 4) Entertaining Sundry Expenses Software Website Admin Assistants Gatemen and car park Bradsons Health and Safety Bank Charges |
2023 Unrestricted £ 11,052 72,482 33,134 11,903 8,780 6,400 £143,751 2023 Unrestricted £ 10,445 2,407 1,277 3,844 3,567 2,837 9,784 3,582 2,650 820 65,940 8,020 4,934 2,164 202 1,704 343 6,150 5,792 1,360 2,105 £139,927 |
2022 Unrestricted £ 6,462 74,834 20,098 12,388 7,130 8,500 |
||
|---|---|---|---|---|---|
| £129,412 | |||||
| 2022 Unrestricted £ 10,047 822 2,986 2,477 3,167 2,199 7,556 56 2,020 - 57,454 4,290 3,170 1,173 515 565 160 5,010 5,356 680 1,584 |
|||||
| £111,287 |
DUNSTER SHOW SOCIETY Registered Number: 1167137
9
Notes to the Accounts for the year ended 31 October 2023 (cont'd)
| 3 4 |
SHOWGROUND EXPENSES Hire of Marquees, Tables, etc Hire of Public Address System Hire of Toilets Hire of Scaffolding and Jumps Hire of Disabled Facilities Wifi Rent Insurance Site Preparation and Clearance Repairs and Maintenance Security Haulage and Reseeding Tractor Hire ENTERTAINMENT Circus Falconry Jazz Band Terry Moules Ferrets Hunts Rivertones Vintage Machinery Heart of Horsemanship Fairground Organs Jamie Squibb Puppetree |
2023 Unrestricted £ 29,392 2,592 5,592 1,870 200 - 7,200 2,975 11,942 338 2,559 - 1,280 £65,940 2023 Unrestricted £ 450 790 480 200 1,600 300 150 3,750 - - 300 £8,020 |
2022 Unrestricted £ 23,482 2,940 4,047 1,265 200 973 7,200 3,054 8,870 3,055 780 288 1,300 |
||
|---|---|---|---|---|---|
| £57,454 | |||||
| 2022 Unrestricted £ 400 - 420 200 - 270 - - 200 2,500 300 |
|||||
| £4,290 |