2023-08-31-accounts - Peterborough Farm Machinery Preservation Society CIO

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Trustees' Annual Report for the period

	Period start date	Period start date			Period end date	Period end date
From	01	09	2022	To	31	08	2023

Section A Reference and administration details

PETERBOROUGH FARM MACHINERY PRESERVATION Charity name SOCIETY CIO

Other names charity is known by

Registered charity number (if any) 1170006

Charity's principal address

1 Charles Road Whittlesey Peterborough Postcode PE7 2RG

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
Brian Knight	Management Committee
Tony Fisher	Management Committee
Brian Lutkin	Management Committee
Leigh Granger	Management Committee
Patrick Nightingale	Management Committee










Names of the trustees for the charity, if any, (for example, any custodian trustees)
Name		Dates acted if not for whole year

TAR

March 2012

Names and addresses of advisers (Optional information)

Type of Name Address adviser

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document Constitution (eg. trust deed, constitution)

How the charity is constituted Charitable Incorporated Organisation (eg. trust, association, company)

Trustee selection methods Appointed by existing Trustees (eg. appointed by, elected by)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

policies and procedures adopted for the induction and training of trustees;
the charity’s organisational structure and any wider network with which the charity works;
relationship with any related parties;
trustees’ consideration of major risks and the system and procedures to manage them.

Section C Objectives and activities

Summary of the objects of the charity set out in its governing document

The objects of the CIO are to advance the education and benefit of the public in the history of agricultural machinery by procuring, maintaining, recording and exhibiting agricultural machinery, equipment that is of historic interest and value.

TAR

March 2012

The main activities undertaken for the public benefit in relation to these Summary of the main objects (trustees having had regard to the guidance issued by the Charity activities undertaken for the Commission on public benefit) have been: public benefit in relation to these objects (include within Displaying historic machinery and organising working demonstrations at this section the statutory several shows attended by the general public. Providing an exhibition declaration that trustees have trailer as a display / meeting point. had regard to the guidance issued by the Charity Commission on public benefit)

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

policy on grantmaking;
policy programme related investment;
contribution made by volunteers.

Section D Achievements and performance

Summary of the main Raised substantial sum to donate to Thorney Primary School (Swimming achievements of the charity pool fund) and Air Ambulance at our combined working weekend and during the year open farm Sunday at Park Farm Thorney.

Provided five evening meetings where speakers were invited to talk to the members about their particular area of interest. The meetings were well attended and typically attract 30 to 50 people which is down on previous years, it is felt that Covid understandably still is a concern for members (membership cohort is elderly) Current membership continues to be approximately 100 people. Return of public show events the Society was able to attend with show trailer and members collections for the interest of the public Financial reserves continue to be satisfactory with previous years losses (last 3 years) pretty much recouped from events over this year.

The Trustees are pleased to see the Committee have followed the wishes of the members by re-investing in the show caravan by completing some significant repairs and upgrades to show trailer to enable the Society to continue to promote the Society and attract new membership.

TAR

March 2012

Section E Financial review

Brief statement of the Financial reserves are kept on bank deposit. The policy is to only use charity’s policy on reserves these for significant expenses. This period has seen funds being spent on repairs to our show trailer. The Committee continues to welcome direction/suggestions by the members on how the reserves might be spent in promoting and preserving agricultural and rural history.

The Society has no borrowings, long term debt or financial commitments Details of any funds materially beyond the normal annual operating costs. in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

the charity’s principal sources of funds (including any fundraising);
how expenditure has supported the key objectives of the charity;
investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Richard William Perren Position (eg Secretary, Secretary Chair, etc) Date 16th September 2023

TAR

March 2012

Peterborough Farm Machinery Preservation Society CIO

Charity No. 1170006

Company No. CE008452

Trustees' Report and Unaudited Accounts

31 August 2023

Peterborough Farm Machinery Preservation Society CIO Contents

	Pages
Trustees' Annual Report	2 to 3
Independent Examiner's Report		4
Statement of Financial Activities		5
Summary Income and Expenditure Account		6
Balance Sheet		7
Statement of Cash flows		8
Notes to the Accounts	9 to	13
Detailed Statement of Financial Activities	14 to	15

Page 1

Peterborough Farm Machinery Preservation Society CIO Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 August 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. CE008452

Charity No. 1170006

Registered Office

1 Charles Road Whittlesey Peterborough PE7 2RG

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

T. Fisher

L. Granger

B. Knight B. Lutkin

P.J. Nightingale

Company Secretary

R. Perren

Accountants

Hills Accountants 14 St Marys Street Whittlesey Peterborough PE7 1BG

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Page 2

Peterborough Farm Machinery Preservation Society CIO Trustees Annual Report

Signed on behalf of the board

P.J. Nightingale Trustee 19 September 2023

Page 3

Peterborough Farm Machinery Preservation Society CIO Independent Examiners Report

Independent Examiner's Report to the trustees of Peterborough Farm Machinery Preservation Society CIO

I report to the charity trustees on my examination of the financial statements of Peterborough Farm Machinery Preservation Society CIO for the year ended 31 August 2023.

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 financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the Charity 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 financial statements 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements to be reached.

Lee Hills ACCA Hills Accoutants 14 St Marys Street Whitlesey Peterborough PE7 1BG

19 September 2023

Page 4

Peterborough Farm Machinery Preservation Society CIO Statement of Financial Activities

for the year ended 31 August 2023

Unrestricted funds 2023 £ 1,938 42 7,079	Total funds 2023 £ 1,938 42 7,079	Total funds 2022 £ 1,905 1 9,418
9,059 9,833	9,059 9,833	11,324 5,852
9,833 -	9,833 -	5,852 -
(774) -	(774) -	5,472 -
(774)	(774)	5,472
(774) 25,995	(774) 25,995	5,472 20,523
25,221	25,221	25,995

Page 5

Peterborough Farm Machinery Preservation Society CIO Summary Income and Expenditure Account

for the year ended 31 August 2023

Income Interest and investment income Gross income for the year Expenditure Total expenditure for the year Net (expenditure)/income before tax for the year Net (expenditure )/income for the year	2023 £ 9,017 42 9,059 9,833 9,833 (774) (774)	2022 £ 11,323 1
		11,324
		5,852
		5,852
		5,472
		5,472

Page 6

Peterborough Farm Machinery Preservation Society CIO Balance Sheet

at 31 August 2023

at 31 August 2023
Company No. CE008452 Notes 2023 £ Current assets Cash at bank and in hand 25,703 25,703 Creditors:Amount falling due within one year 9 (482) Net current assets 25,221 Total assets less current liabilities 25,221 Net assets excluding pension asset or liability 25,221 Total net assets 25,221 The funds of the charity Restricted funds 10 Unrestricted funds 10 General funds 25,221 25,221 Reserves 10 Total funds 25,221	2022 £ 26,476
	26,476 (481)
	25,995 25,995
	25,995
	25,995
	25,995
	25,995
	25,995

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 19 September 2023

And signed on its behalf by:

P.J. Nightingale Trustee 19 September 2023

Page 7

Peterborough Farm Machinery Preservation Society CIO Statement of Cash flows for the year ended 31 August 2023

Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Decrease in trade and other receivables Net cash used in operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances	2023 £ (774) (7,121) - (7,895) 7,121 7,121 - (774) 26,476 25,702 25,703 25,703	2022 £ 5,472 (9,419) 200
		(3,747) 9,419
		9,419

		-

		5,672
		21,004
		26,676

		26,476

		26,476

Page 8

Peterborough Farm Machinery Preservation Society CIO Notes to the Accounts

for the year ended 31 August 2023

1 Accounting policies

Basis of preparation

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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 9

Peterborough Farm Machinery Preservation Society CIO Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 10

Peterborough Farm Machinery Preservation Society CIO Notes to the Accounts

3 Statement of Financial Activities - prior year

3 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Investments Other Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Subscriptions Donations 5 Income from investments Bank Interest	Unrestricted £ 1,938 - 1,938 Unrestricted £ 42 42	Unrestricted funds 2022 £ 1,905 1 9,418 11,324 5,852 5,852 5,472 5,472 5,472 20,523 25,995 Total 2023 £ 1,938 - 1,938 Total 2023 £ 42 42	Total funds 2022 £ 1,905 1 9,418
			11,324 5,852
			5,852
			5,472
			5,472
			5,472 20,523
			25,995
			Total 2022 £ 1,790 115
			1,905
			Total 2022 £ 1
			1

Page 11

Peterborough Farm Machinery Preservation Society CIO Notes to the Accounts

6 Other income

Unrestricted £ 500 3,557 184 2,838 7,079	Total 2023 £ 500 3,557 184 2,838 7,079	Total 2022 £ 2,010 4,217 144 3,047
		9,418

Unrestricted £ - 3,394 1,156 212 - 970 3,621 480 9,833 2023 £ 482 482	Total 2023 £ - 3,394 1,156 212 - 970 3,621 480 9,833	Total 2022 £ (200) 2,670 129 150 91 480 2,052 480
		5,852
		2022 £ 481
		481

Page 12

Peterborough Farm Machinery Preservation Society CIO Notes to the Accounts

10 Movement in funds

Restricted funds: Unrestricted funds: General funds Total funds 11 Analysis of net assets between funds Net current assets 12 Reconciliation of net debt Cash and cash equivalents Net debt	Incoming resources (including other gains/losses ) £ 9,059 9,059 At 1 September 2022 £	Resources expended £ (9,833) (9,833) Unrestricted funds £ 25,221 25,221 Cash flows £	At 31 August 2023 £ 25,221
			25,221
			Total £ 25,221
			25,221
			At 31 August 2023 £
	26,476	(773)	25,703
	26,476 26,476	(773) (773)	25,703
			25,703

13 Related party disclosures *Controlling party*

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 13

Peterborough Farm Machinery Preservation Society CIO Detailed Statement of Financial Activities

for the year ended 31 August 2023

Income and endowments from: Donations and legacies Subscriptions Donations Investments Bank Interest Other Assets Events Sundry Raffles Total income and endowments Expenditure on: Other expenditure Day Trips - Refunds Event Costs Raffle Donations Vehicles - Insurance and licences Premises costs Other premises costs General administrative costs, including depreciation and amortisation Bank charges Equipment expensed Equipment repairs and maintenance General insurances Postage and couriers Sundry expenses Legal and professional costs	Unrestricted funds 2023 £ 1,938 - 1,938 42 42 500 3,557 184 2,838 7,079 9,059 - 3,394 1,156 212 4,762 - - 970 970 19 2,203 - 876 486 37 3,621	Total funds 2023 £ 1,938 - 1,938 42 42 500 3,557 184 2,838 7,079 9,059 - 3,394 1,156 212 4,762 - - 970 970 19 2,203 - 876 486 37 3,621	Total funds 2022 £ 1,790 115
			1,905
			1
			1
			2,010 4,217 144 3,047
			9,418
			11,324 (200) 2,670 129 150
			2,749
			91
			91
			480
			480
			20 379 354 732 567 -
			2,052

Page 14

Peterborough Farm Machinery Preservation Society CIO Detailed Statement of Financial Activities

Peterborough Farm Machinery Preservation Society CIO Detailed Statement of Financial Activities
Audit/Independent examination fees Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	480 480 9,833 9,833 - (774) (774) - (774) 25,995 25,221	480 480 9,833 9,833 - (774) (774) - (774) 25,995 25,221	480
			480

			5,852
			5,852 -
			5,472
			5,472 -
			5,472
			20,523
			25,995

Page 15