## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** **Charity Registration No. 1168291** ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **CONTENTS** ||**Page**| |---|---| |Reference and Administrative Details|1| |Report of the Trustees|2 - 5| |Independent Examiner's Report|6| |Statement of Financial Activities|7 - 8| |Balance Sheet|9| |Notes to the Financial Statements|10 - 16| ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **REFERENCE AND ADMINISTRATIVE DETAILS** **----- Start of picture text -----**
President Teresa Wickham
Trustees A Tinsley
A Bardsley
C Bird
J Blackman
K Kelliher
C Seymour
Executive Chair S Calcutt
Treasurer C Morris
Administrative Assistant R Heather
Competition Manager N Tompsett
Exhibition Manager L Larkin (Resigned 7 October 2021)
Principal Address 1 Knights Hole Cottages
Jarvis Lane
Cranbrook
Kent TN17 2NR
Independent Examiner M Wilkes FCA
Azets Audit Services
5th Floor
Ashford Commercial Quarter
1 Dover Place
Ashford
Kent TN23 1FB
Bankers The Charity Bank Ltd
Fosse House
182 High Street
Tonbridge
Kent TN9 1BE
The Co-operative Bank
High Street
Cranbrook
Kent TN17 3DQ
Nationwide Building Society
Nationwide House
Piper Way
Swindon SN38 1NW
**----- End of picture text -----**
- 1 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** The Trustees present their report and examined financial statements of the Society for the period ended 31 December 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published on 16 July 2014, as amended by Bulletin 1. ## **Objectives and activities** The aims of the Society are to promote the sciences of agriculture, arboriculture, horticulture, and the storage, packaging and marketing of fruit, to hold an annual Fruit Show, to hold and promote public shows, to hold, run and promote open and other competitions in any of the subjects, and to award prizes for merit and excellence. Also, to promote the fruit sector and educate school children and others. ## **Public benefit statement** The Trustees confirm they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Society’s aims and objectives. ## **Business Review and future developments** We have completed 89 years of the National Fruit Show, supporting the UK Fruit industry, bringing new technology to the fore and showcasing the very best of what we grow. Presenting the major showcase of British Fruit, we are rightly proud of being the custodians of, what is now globally, the largest display of top fruit. Over the last decade we have added schools age education to the mix, engaging with children from early years through to key stage four including offering advice on crucial careers decision. Through the generous support of the Worshipful Company of Fruiterers we have retained additional expertise and our programme is extended to encompass soft fruit as well as apples and pears. We are also educating the next generation of consumers and decision makers in what it takes to get great British fruit to their hand. We are delighted to present to you our accounts for 2021. Our budgetary structures, business plan and the tireless work of the amazing volunteers supported by staff of the society continues to produce strong results. We wish to thank our treasurer, Chris Morris, supported by Liz Knight who have assisted us in the preparation of these reports and also for their guidance in developing the financial management of the society. The ongoing Covid 19 situation in 2021 affected the show less than in 2020. We were able to return to an in person format and are pleased to report a very well supported event. With a full exhibition hall, outstanding competition fruit and the presence of the Minister, plus the Vice President of the NFU, it was a welcome return to networking for the industry. Through the generous support of new sponsors MHA MacIntyre Hudson we were able to deliver a vibrant conference and debate platform – partnered in the morning with the Fruiterers Livery, and in the afternoon delivering a lively Rural Policy Group debate ‘how can farmers go green when they are in the red?’ The four main sponsors for the 2021 financial year were Agrovista, UKCA/Isolcell, NP Seymour and Worldwide Fruit Ltd who took over from Avalon after their almost two decades of loyal support. All are key players within the UK top fruit industry and they provide guidance to the Chair and facilitate introductions to potential new partners. Agrovista have now completed their third, three-year term as major sponsor, they have decided to step back and so the 2022 agronomy sponsor, beginning their first term supporting the show, are Hutchinsons. In the 2022 financial year we will add a fifth major sponsor, welcoming the return of BASF to our premium group of supporters. As always we are indebted to our sponsors without whom the administration of the society would not progress in such a smooth manner. We are also most grateful to all of the sponsors who ensure that all elements of the show are supported by their generous support for the competition, the dinner and reception. - 2 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** ## **Business Review and future developments (continued)** Our financial situation has been ameliorated by the use of the government furlough scheme, our education manager, Samantha Smith has remained at home from the start of lockdown in March 2020 and continued to deliver the scheme until visits to schools were able to re-commence. In 2020, we were awarded a generous grant from the Fruiterers Livery awards council to enable the hiring of a second highly qualified land based educational specialist. Recruitment was not possible until the last quarter of 2021 and we are very pleased that we are now able to extend our delivery into more regions and to also be able to add soft fruit to the programme. You will see from the accounts that we are now accounting for all educational activity as a separate entity from the show as a whole, this restricted fund is a reflection of its growing success and the confidence in which we have in our relationship with its sponsors. We are very grateful to AC Goatham & Son and Avalon Fresh who continue to be our principal education sponsors, the invaluable vehicle provided by OnePay and the programme is now also supported by the Hutchinsons trust, Loddington Farm and by a large group of growers through their donation of competition fruit. Our President, Teresa Wickham, appointed at the 2020 AGM, has proved to be a great, positive, influence on the society. She is now entering her final year of office and we are in discussions with two senior figures within the wider farming arena with a view to appointment on a three year term. 2021 has seen changes in the delivery and management of the society’s activities by the appointment of Sarah Calcutt as Exec Chair, supported by Norma Tompsett as Competition Manager, Laura Larkin as Exhibition Manager with Annette Bardsley and Estera Amesz as Vice Chairs backed by Chris Morris as Treasurer, all supported by a very good committee. Unfortunately Laura had to leave the society shortly before the 88th show due to ill health, a new administrative support will be in post by the 2022 AGM. ## **We wish to draw your attention to a few areas:** Our accounts are showing reduced operating costs and coupled with the long term strategy for the Society it is anticipated that we will be able to return funds to reserves over the next three years. Sarah Calcutt, Executive Chair, conducted a full review of the aims and delivery of the society at the end of the financial year, making extensive recommendations for restructuring and improved financial performance. In the short term changes are structured to ensure the reinstatement of 365 days of operating capital in reserves, it is also desired that additional funding be made available to the educational and promotional programmes. The new structure and a consultation of members has been developed into a Centenary strategy for the society. The key changes to the CIO are as follows: - 1 Reduced operating costs – the charity is now registered at the home of the Chair, this offers reduced cost office facilities. We are indebted to NP Seymour who have taken over from Agrii storing the exhibition stands and show equipment, David Quarringdon is contracted to store the archives, trophies and other valuables for the society. - 2 All external services have been put out to tender and this has delivered cost savings through hospitality and show delivery structure. - 3 Trustees – at the 2021 AGM a new trustee board was elected, the MFSS CIO board of trustees are as follows – Mr Andrew Tinsley (Chair) C Bird, K Keliher, C Seymour, J Blackman, A Bardsley, E Newling (resigned October 2021) due to business pressures, the society is seeking a representative from this region . - 4 The Centenary plan - the Executive Chair has been charged by the trustees to deliver a medium and long term development plan which will lead the society towards its centenary in 2033. The Society will be seeking beneficial, strategic partnerships to further extend the scope and commercial value of the show, competitions and communications strategy. A focus on primary and secondary processing including the drinks trade will see the creation of new classes and extending the KT potential of the show to its visitors and members. - 3 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** ## **Business Review and future developments (continued)** **Stand income:** The Society continues to grow in both size and influence, the 2021 show demonstrated a need for networking and upskilling in the sector, additional opportunities for growth and expansion were identified which are now forming apart of the Centenary plan. **Show Dates** : After more than a decade of requesting new dates from our venue the first week in November has now become available. As the top fruit industry has evolved in the UK, the end of harvest has moved later in the calendar, the show will now reflect this change and be delivered on the 2nd and 3rd November. **Budgets** are now prepared for the next financial year and we have forecasted modest increases in activity on the previous year. We have in place a robust promotional and marketing strategy and pro-active campaign of engagement with a broad range of additional companies which will deliver anticipated growth. ## **Financial review** Income for the period amounted to £189,627 (2020 : £83,899), of this £30,122 (2020: £22,666 is considered restricted funds). Expenditure amounted to £175,452 (2020: £102,364). This has resulted in a surplus of £14,175 (2020 : deficit £18,464) . After accounting for the gain on the investment of £1,506 (2020: loss £2,365), total funds at 31 December 2021 amounted to £132,902 (2020: £117,221). ## **Reserve policy** The level of reserves is equated to the net assets which are considered adequate and appropriate to continue to support the Society’s activities for at least the next 12 months. Reserves at 31 December 2021 amounted to £105,388 (2020: £102,844). Average annual expenditure amounts to £180,000 (2020: £180,000) and accordingly the reserves are considered to be sufficient to support this policy. ## **Going concern** In the 2020 and 2021 financial years the chair and the trustees implemented a strategy that both protected reserves and also sought to maintain the associations benefit to the wider fruit industry. Careful financial management has protected reserves whilst still delivering an in-person show in 2021. Ambitious income targets were set which have been met, enabling the society to increase reserves. Budgets are now prepared for the next financial year and we have forecasted increases in activity on the previous two years. All external services have been put out to tender over the last 24 months delivering cost savings through hospitality and show structure, we have sought to reduce the impact of cost increases across all inputs which were identified as a potential risk to the viability of the society. A comprehensive budget review exercise has resulted in a modest increase in charges to exhibitors, the first increase in six years, this is within our policy to break even with a modest return to reserves each year. We have in place a robust promotional and marketing strategy and pro-active campaign of engagement with a broad range of additional companies which will deliver anticipated growth. Prudent management, a clear commercial strategy and the support of its sponsors has placed the Marden Fruit Show Society in a strong position as a going concern. ## **Pay policy for key management personnel** The trustees consider the Board and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. The key management personnel who are involved in all decision making and responsible for the day to day management of the charity were Ms S Calcutt, Mrs N Tompsett and Mrs L Larkin. The day to day bookkeeping will now by completed by Ms S Saunders. All trustees vice chairs and committee members give of their time freely and no trustee received remuneration in the year. The pay of the senior staff is reviewed annually and normally increased in accordance with market rates. An honorarium is paid to the President and in previous years, the Chair of the Society has also received an honorarium. - 4 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** ## **Risk policy** **Southern 'centric'** accusation reduces our attendance and relevance to the wider industry results in a project to extend awareness in other regions of production. Providing simple routes to the competition for entries via agronomy network and extension of the education programme into other regions. Regional representation at trustee as well as general committee level is aimed at increasing our profile in other regions. ## **Structure** The charity, which is registered with the Charity Commission under number 1168291, is established under a CIO Association dated 16 July 2016. At 31 December 2016 all of the assets and liabilities were transferred to the new CIO. ## **Governance and management** The trustees of The Marden Fruit Show Society are responsible for the general control and management of the administration of the charity. The Trustees are elected by the committee, and have relevant experience in the fruit industry or their subject. During the period the following were Trustees of the charity: A Tinsley (Chairman) K Kelliher A Bardsley E Newling (resigned October 2021) C Bird C Seymour J Blackman ## **Trustees' responsibilities** The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and - select suitable accounting policies and then apply them consistently; - - observe the methods and principles in the Charities SORP 2015 (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume the charity will continue. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees and signed on their behalf by: ## **Miss S Calcutt** **Executive Chair** Date: …...................................28.03.21 - 5 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS OF THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** I report on the accounts of the charity for the period ended 31 December 2021 which are set out on pages 8 to 17. ## **Responsibilities and basis of report** As the charity trustees of the CIO 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 CIO's accounts carried out under section 145 of the 2011 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. 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 that in any material respect: 1. accounts records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. ## **M A Wilkes FCA** ## 22 April 2022 ….............................. Azets Audit Services 5th Floor Ashford Commercial Quarter 1 Dover Place Ashford Kent. TN23 1FB - 6 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021** **----- Start of picture text -----**
Restricted Unrestricted TOTAL TOTAL
Funds funds Funds Funds
2021 2021 2021 2020
Notes Total Total Total Total
£ £ £ £
Income from:
Donations and legacies 2,203 45 2,248 1,120
Grants 2 - 7,208 7,208 16,715
Charitable activities
-
Show and competition income 141,799 141,799 33,380
-
Education programme income 23,308 23,308 22,646
Handbook income - 7,040 7,040 6,830
Raising funds:
-
Membership subscriptions and donations 2,598 2,598 2,103
Investment income 3 - 815 815 1,106
Auction donations 4,611 - 4,611 -
Total income 30,122 159,505 189,627 83,899
Expenditure on:
Charitable activities
-
Show and competition expenditure 133,737 133,737 64,854
-
Handbook expenditure 10,833 10,833 8,474
-
Education programme 16,985 16,985 17,356
Administrative costs - 13,896 13,896 11,680
Total expenditure 4 16,985 158,467 175,452 102,364
Net income before gains on investments 13,137 1,038 14,175 (18,465)
Gain/(Loss) on investment assets 9 - 1,506 1,506 (2,365)
Net movement in funds 13,137 2,544 15,681 (20,830)
Funds brought forward 1 January 2021 14,377 102,844 117,221 138,051
Funds carried forward 31 December 2021 27,514 105,388 132,902 117,222
**----- End of picture text -----**
All transactions are derived from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities. - 7 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021** |**Notes**
**Income from:**
**Donations and legacies**
**Grants**
**Charitable activities**
Show and competition income
Education programme income
Handbook income
**Raising funds:**
Education Programme Donation
Membership subscriptions and donations
Investment income
**3**
**Total income**
**Expenditure on:**
**Charitable activities**
Show and competition expenditure
Handbook expenditure
Education programme
Administrative costs
**Total expenditure**
**4**
**Net income before gains on investments**
**Gain/Loss on investment assets**
**9**
**Net movement in funds**
**Funds brought forward 1 January 2020**
**Funds carried forward 31 December 2020**|**Restricted**
**Funds**
**Unrestricted**
**funds**
**Total**
**2020**
**£**
**£**
**£**
20
1,100
1,120
16,715
16,715
-
33,380
33,380
22,646
-
22,646
-
6,830
6,830
-
-
-
-
2,103
2,103
-
1,106
1,106
22,666
61,233
83,899
-
64,854
64,854
-
8,474
8,474
17,356
-
17,356
-
11,680
11,680
17,356
85,008
102,364
5,310
(23,775)
(18,465)
-
(2,365)
(2,365)
5,310
(26,140)
(20,830)
9,067
128,984
138,051
14,377
102,844
117,221| |---|---| All transactions are derived from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities. - 8 - THE MARDEN FRUIT SHOW SOCIETY CIO {MFSS) BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Flxed A88ets Tangible assets Investments 6.2 12,776 11,270 19.032 Curr•nt A¥••t• Debtors Current A6set Inve6trnents Cash al bank 8nd In 11 10 41.432 25.582 57.19) 124.164 32,863 25,475 53,040 111,177 Cr•dltorn.' amounts lalliryJ due *th'n cfflg year 6.697 8,730 N•t Curr•nt A••6ts 117,468 136.SC() 102.447 123,015 Cr•dltor•.' am¢)unts 18111ng yo 13 13,5981 15,7941 N•t AM•t• 132,￿2 117,221 Fun Restn'cted Funds. Edl￿atiOn BL#1 Unostricted lund8 14 27,514 105.388 132,W2 14.377 102.8 117.221 Approv&J ty the Board of Tru8te88 C¥1 ... . ........ 21 8Th1 ￿9n￿d on their b8hall ty.. MrA Tin Tnjstee Th8 not8s on pages 10 to 16 Ic¥m port of th￿ accoLnts. ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **1 ACCOUNTING POLICIES** ## **1.1 Basis of preparation** The Marden Fruit Show Society CIO (MFSS) is a registered charity in the United Kingdom. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are to promote the sciences of agriculture and arboriculture, particularly in connection with the production of better fruit. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued on 16 July 2014 as amended by bulletin 1, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Practice as it applies from 1 January 2015. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied unless otherwise stated. ## **1.2 Funds accounting** Unrestricted general funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for any other purpose. Restricted funds are subjected to restrictions on their expenditure imposed by the donor through the terms of an appeal. ## **1.3 Income recognition** All income are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. - Show and competition income is accounted for on an accruals basis. - Donations and subscriptions are accounted for as receivable. - Handbook income is accounted for on an accruals basis. - Investment income has been accounted for on an accruals basis. ## **1.4** ## **Expenditure recognition** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: - Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them. - 10 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **1 ACCOUNTING POLICIES (CONTINUED)** ## **1.4 Expenditure recognition (continued)** - Governance costs include those incurred in the governance of the charity and are primarily associated with general meetings of the charity and compliance with legal requirements. Irrecoverable VAT is charged against the expenditure heading for which it was incurred. ## **1.5 Support costs allocation** Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at the principal address. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. ## **1.6 Tangible fixed assets** Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Computer and other equipment 25% straight line Fruit display stand 20% straight line Education Vehicle 25% reducing balance No depreciation has been provided on the Society’s Cups as in the opinion of the trustees the residual value of these tangible fixed assets are in excess of the book values as supported by an insurance valuation undertaken in 2013. All assets costing more than £100 are capitalised and a full year’s depreciation is charged in the year of acquisition. ## **1.7 Investments** Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment. ## **1.8 Debtors and creditors receivable / payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## **1.9 Creditors due over one year** Creditors due over one year are stated without interest or other charges. ## **1.10 Tax** The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. ## **1.11 Employee benefits** The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. - 11 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **1 ACCOUNTING POLICIES (CONTINUED)** ## **1.12 Going concern** The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. The chair and the trustees rapidly implemented a strategy that both protected reserves and also sought to maintain the associations benefit to the wider fruit industry. Budgets are now prepared for the next financial year and we have forecasted modest increases in activity on the previous year. We have surrendered the office lease and secured storage for archives, trophies and show sundries has been secured which delivers a 70% cost saving. All external services have been put out to tender this has delivered cost savings through hospitality and show structure. We have in place a robust promotional and marketing strategy and pro-active campaign of engagement with a broad range of additional companies which will deliver anticipated growth. Prudent management, the securing of a government grant and the support of its sponsors has placed the Marden Fruit Show Society in a strong position as a going concern. ## **1.13 Judgements and key sources of estimation uncertainty** Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 9 for the carrying amount of the property plant and equipment, and note 1.6 for the useful economic lives for each class of assets. |**2**
**GRANTS**
Job Retention Scheme
LA Coronavirus Grant
**3**
**INVESTMENT INCOME**
Bank Interest
Dividends in listed investment
**4**
**EXPENDITURE**
**Charitable activities**
Show and competition expenditure
Handbook expenditure
Education programme
Administrative costs
**Total expenditure**|**2021**
**£**
5,874
1,334
7,208
**2021**
**£**
478
337
815
**Staff**
**Costs**
**Direct**
**Costs**
**Support**
**Costs**
**2021**
**£**
**£**
**£**
**£**
-
97,509
36,228
133,737
-
8,096
2,737
10,833
11,146
2,645
3,194
16,985
13,896
-
-
13,896
25,042
108,250
42,160
175,452|**2020**
**£**
6,830
10,000
16,830
**2020**
**£**
851
255
1,106
**2020**
**£**
64,854
8,474
17,356
11,680
102,364| |---|---|---| - 12 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** |**5**
**SUPPORT COSTS**
Printing and stationery
Telephone
Postage
Office rent and service charge
Insurance
Office expenses and mileage
Computer and internet access
Website costs
Professional fees
Other expenses
Governance
Meeting costs
Honorarium
Professional fees
Bookkeeping support
Independent examination
**6**
**STAFF COSTS**
Wages and salaries
Social security costs
Pension costs
Depreciation of computer and other
equipment|**Show and**
**compettion Handbook**
**Education**
**Total**
**2021**
**£**
**£**
**£**
464
-
82
546
579
72
73
724
598
322
-
920
2,815
-
-
2,815
2,612
-
461
3,073
228
-
-
228
2,900
-
-
2,900
7,216
-
-
7,216
10,050
540
216
10,806
1,925
-
-
1,925
2,801
187
747
3,735
220
-
-
220
1,000
-
-
1,000
1,204
-
-
1,204
1,283
1,283
1,282
3,848
334
333
333
1,000
36,228
2,737
3,194
42,160
**2021**
**£**
24,916
-
126
25,042|**Total**
**2020**
**£**
766
1,371
379
7,673
2,890
422
2,628
-
-
1,997
3,652
-
700
215
1,385
900
24,978
**2020**
**£**
40,089
652
457
41,198| |---|---|---| The average monthly number of staff in the year was 2 (2020: 3). No member of staff earned more than £60,000 during the year (2020: Nil). The total amount of employee salary and benefits received by key management personnel is £25,042 (2020: £41,198). The Society considers its key management personnel comprise all of its employees. ## **7 TRUSTEES REMUNERATION AND EXPENSES** Miss S Calcutt, as Chair of Trustees, received an honorarium of £Nil (2020: £700) during the year. Teresa Wickham, as President, received an honorarium of £1,000 (2020: £Nil) during the year. None of the Trustees received remuneration during the year. No Trustees were reimbursed expenses in the year (2020: 1 trustee - £107). All reimbursed expenses are incurred exclusively for charitable purposes. In accordance with normal commercial practice the charity has purchased insurance to protect trustees and officers from claims arising from negligent acts, errors or omissions occurring whilst on charity business. The cost of this insurance was £1,246 (2020: £1,148). - 13 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** |**8**
**TANGIBLE FIXED ASSETS**
**Cups**
**Computer**
**and other**
**equipment**
**Fruit display**
**stand**
**Education**
**vehicle**
**£**
**£**
**£**
**£**
**Cost**
Cost at 1 January 2021
1,479
1,193
22,787
11,472
Additions
-
693
-
-
As at 31 December 2021
1,479
1,886
22,787
11,472
**Depreciation**
Depreciation at 1 January 2021
568
21,329
5,736
Charge for the year
-
381
486
2,868
As at 31 December 2021
-
949
21,815
8,604
**Net Book Value**
As at 31 December 2021
1,479
937
972
2,868
As at 31 December 2020
1,479
625
1,458
5,736
**Assets held under hire purchase obligations**
Net Book Value
As at 31 December 2021
-
-
-
2,868
As at 31 December 2020
-
-
-
5,736|**Total**
**£**
36,932
693
37,625
27,633
3,735
31,368
6,256
9,298
2,868
5,736| |---|---| The Cups are used for direct charitable purposes at the Fruit Show and Competition. The computer and other equipment are used for administration purposes. |**9**
**INVESTMENTS**
**Investments (M & G Charifund)**
Market value at 1 January 2021
(Loss)/Gain on Investment
**Market value at 31 December 2021**
Historical cost at 31 December 2021|**2021**
**£**
11,270
1,506
12,776
1,253|**2020**
**£**
13,635
(2,365)
11,270
1,253| |---|---|---| The fair value of listed investments is determined by reference to the mid-market value price at 31 December 2021. |**10**
**Current Asset Investments:**
Nationwide Building Society - 95 day Notice
**11**
**DEBTORS**
Trade debtors
Other debtors
Prepayments|**2021**
**£**
25,582
25,582
**2021**
**£**
29,462
10,329
1,642
41,432|**2020**
**£**
25,475
25,475
**2020**
**£**
27,008
2,541
3,114
32,663| |---|---|---| - 14 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** |**12**
**CREDITORS:**amounts falling due within one year
Trade creditors
Other creditors
PAYE
Pension
Accruals
Hire purchase obligations
**13**
**CREDITORS: amounts falling due over one year**
Hire Purchase obligations
Hire purchase obligations
within one year
in two to five years
**14**
**RESTRICTED FUNDS**
Education programme
Education programme
**2021**
**2020**|**2021**
**£**
2,451
518
2
-
1,650
2,076
6,697
3,598
3,598
2,076
3,598
5,674
**At 1 January**
**2021**
**Income**
**Expenditure**
**£**
**£**
**£**
14,377
30,122
(16,985)
9,067
22,666
(17,356)|**2020**
**£**
4,273
-
-
24
2,357
2,076
8,730
5,794
5,794
2,076
5,794
7,870
**At 31**
**December**
**2021**
**£**
27,514
14,377| |---|---|---| ## **Education programme** This programme offers free workshops to children from EFYS (Early Years Foundation Skills) and Keystages 1-4 through out the South East of England and London. A substantial library of online resources is also available for download from the charity’s website. Dedicated sponsorship has seen the programme develop from solely a primary school resource using colourful characters and hands on activities to educate young children about where their fruit comes to an initiative that engages teenagers about the career opportunities within the sector. |**15**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**2021**
Fixed Assets
Investments
Current Assets
Current Liabilities
Long Term Liabilities
**2020**
Fixed Assets
Investments
Current Assets
Current Liabilities
Long Term Liabilities|**Unrestricted**
**Restricted**
**Funds**
**Funds**
6,256
-
12,776
-
96,651
27,514
(6,697)
-
(3,598)
-
105,388
27,514
9,298
-
11,270
-
94,624
16,553
(8,730)
-
(5,794)
-
100,668
16,553|**Total**
**Funds**
6,256
12,776
124,164
(6,697)
(3,598)
132,902
9,298
11,270
111,177
(8,730)
(5,794)
117,221| |---|---|---| - 15 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **16 RELATED PARTY TRANSACTIONS** There were no related party transactions in the year (2020: none) **17 COMMITMENTS UNDER OPERATING LEASES** At 31 December 2021, the total of the charity's future minimum lease payments under non-cancellable operating lease was: |Amounts due within one year|**2021**
-
-|**2020**
3,617
3,617| |---|---|---| - 16 - ## **THE MARDEN FRUIT SHOW SOCIETY CIO (MFSS)** ## **MANAGEMENT INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2021** **----- Start of picture text -----**
Show Competition Handbook Education Total Total
2021 2021 2021 2021 2021 2020
£ £ £ £ £ £
Income
Stand rent 78,977 - - - 78,977 3,990
Sponsorship / Donations 29,997 10,151 - 25,511 65,659 52,791
Dinner 19,674 - - - 19,674 -
Misc. Show income 3,000 - - - 3,000 365
Handbook income - 7,040 - 7,040 6,830
131,648 10,151 7,040 25,511 174,350 63,976
Expenditure
Wages - - - 11,146 11,146 -
Rent of building 22,000 - - - 22,000 -
Heating, lighting and sound 12,684 - - - 12,684 -
Security 5,000 - - - 5,000 -
Registration and tickets - - - - - 200
Catering 1,913 67 - - 1,980 -
Sundry hire costs 447 - - - 447 -
Other expenses 13,632 6,100 - - 19,732 17,516
Advertising 10,691 50 - - 10,741 4,796
Dinner 14,035 - - - 14,035 -
Prizes - 8,828 - - 8,828 3,653
Printing and distribution - 300 8,096 - 8,396 7,423
Materials & samples - - - 8 8 501
Casual labour 1,225 - - 579 1,804 580
Travel &Subsistence 412 125 - 28 565 -
Van Costs & HP Interest - - - 1,433 1,433 785
Sundry - - - 598 598 734
82,039 15,470 8,096 13,791 119,396 36,188
Contribution to surplus 49,609 (5,319) (1,056) 11,720 54,954 27,788
**----- End of picture text -----**