Registered number: CE015936 Charity number: 1181198
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation) UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 - 8 |
| Notes to the financial statements | 9 - 22 |
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Trustees | Mr B Davidson, Trustee |
|---|---|
| Mrs G L Potts, Trustee | |
| Mr J Wharton, Chair | |
| Companies House registered number CE015936 Charity registered number 1181198 Registered office Dalmar House Barras Lane Estate Carlisle Cumbria CA5 7NY Accountants Armstrong Watson Audit Limited Chartered Accountants Bute House Montgomery Way Rosehill Carlisle Cumbria CA1 2RW Bankers HSBC PO Box 5 29 English Street Carlisle Cumbria CA3 8JW |
Page 1
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
The Trustees present their annual report together with the financial statements of the Charity for the year 1 October 2021 to 30 September 2022. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
The Charity also trades under the name Cumberland Show.
Objectives and activities
a. Policies and objectives
The main objective of the Charity is to promote the advancement of agriculture for the public benefit by:
1) Encouraging improvements in the breeding of stock, the management of land and in the general promotion of agriculture.
2) Organising and presenting the annual Cumberland Agricultural Show.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
a. Main achievements of the Charity
The Cumberland Agricultural Society’s objective is to promote agriculture and hold the annual Cumberland show.
After the 2020 and 2021 shows were cancelled due to the COVID pandemic, the society was delighted to hold a 2022 show.
In addition, due to the Southern City Bypass, the venue had to change and we successfully relocated to the new site at Warwick Bridge.
Page 2
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022
Financial review
a. Going concern
The Society was able to host a successful and profitable 2022 agricultural show. We look forward to 2023 and beyond, and everyone is pleased with the new site. Our show was the first in the 2022 calendar so we were in the unknown as to whether it would go well.
The success of the show and the ongoing work and commitment of the show council means the Society is confident about the future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details of these policies can be found in the accounting policies.
b. Reserves policy
The Charity's reserves are continually monitored by the Trustees to ensure they are adequate for the Charity's needs. The Charity holds reserves to ensure future expense obligations can be met when they fall due, regardless of future unknown income levels.
Cash at bank at 30 September 2022 was £84k, with £86k in general unrestricted funds.
The main financial risk could result from a last minute show cancellation whereby we have already incurred a lot of cost. In addition risk is attached with the the combination of potential increased costs due to heightened regulations and inflation on the Show infrastructure price rises. There is also the risk of reduced income due to a possible decline in interest or ability for our various supporters to attend or sponsor the Show. The funds are held to cover the holding of a further annual Show and keep the Society running, in the event of a loss of income and to meet any unforeseen expenditure that may occur.
c. Commentary on the financial results
The Society was delighted to return a surplus for the year of £4k. With a break of two years and a new show venue, a profit has to be celebrated. The costs were budgeted and kept under control and we were pleased with the gate takings.
The Society is in a good position to move forward with the 2023 show and many years to come.
Structure, governance and management
a. Constitution
Cumberland Agricultural Society is registered as a charitable incorporated organisation and was set up by a Constitution.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution.
Plans for future periods
In the coming years the society will look to promote and support the local agricultural industry, as well as holding their flagship event, The Cumberland Show.
Page 3
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) 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 that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Companies Act 2006. 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 order of the members of the board of Trustees and signed on their behalf by:
................................................ Mr B Davidson Trustee
................................................ Mrs G L Potts Trustee
................................................
Mr J Wharton Chair
Date:
Page 4
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
Independent examiner's report to the Trustees of Cumberland Agricultural Society ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 September 2022.
Responsibilities and basis of report
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
Having satisfied myself that the accounts 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 the Charity's accounts 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 Charity 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: Karen A Rae FCCA
Armstrong Watson Audit Limited Chartered Accountants Carlisle
Page 5
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Note Income from: Donations and legacies 4 Charitable activities 5 Investments 6 Other income 7 Total income Expenditure on: Charitable activities 8 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 8,433 109,620 17 - 118,070 114,506 114,506 3,564 82,179 3,564 85,743 |
Restricted funds 2022 £ - - - - - - - - 1,250 - 1,250 |
Total funds 2022 £ 8,433 109,620 17 - 118,070 114,506 114,506 3,564 83,429 3,564 86,993 |
Total funds 2021 £ 7,672 14,881 - 4,950 27,503 29,441 29,441 (1,938) 85,367 (1,938) 83,429 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 22 form part of these financial statements.
Page 6
CUMBERLAND AGRICULTURAL SOCIETY (A charitable incorporated organisation) REGISTERED NUMBER: CE015936
BALANCE SHEET AS AT 30 SEPTEMBER 2022
| Note Fixed assets Tangible assets 13 Current assets Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 16 Unrestricted funds 16 Total funds |
3,182 83,595 86,777 (2,777) |
2022 £ 2,993 2,993 84,000 86,993 86,993 86,993 1,250 85,743 86,993 |
2,307 104,119 106,426 (24,015) |
2021 £ 1,018 |
|---|---|---|---|---|
| 1,018 82,411 |
||||
| 83,429 | ||||
| 83,429 | ||||
| 83,429 | ||||
| 1,250 82,179 |
||||
| 83,429 |
Page 7
CUMBERLAND AGRICULTURAL SOCIETY (A charitable incorporated organisation) REGISTERED NUMBER: CE015936
BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2022
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Mr B Davidson Trustee
................................................
Mrs G L Potts
Trustee
................................................
Mr J Wharton
Chair
Date:
The notes on pages 9 to 22 form part of these financial statements.
Page 8
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
1. General information
Cumberland Agricultural Society is a charitable incorporated organisation with a Companies House registration number CE015936 and charity number 1181198. The registered office is Dalmar House, Barras Lane Estate, Dalston, Carlisle, CA5 7NY.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Cumberland Agricultural Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 9
CUMBERLAND AGRICULTURAL SOCIETY (A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
2. Accounting policies (continued)
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method and on a reducing balance basis.
Depreciation is provided on the following basis:
Materials and showfield - 25% reducing balance expenses Site costs - 20% straight-line Office and computer costs - 25% reducing balance
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.10 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
Page 10
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
2. Accounting policies (continued)
2.11 Fund accounting
General funds are unrestricted 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 other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Critical accounting estimates and areas of judgment
Estimates and judgments 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.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical areas of judgment:
a) Establishing useful economic lives
Establishing useful economic lives for depreciation purposes of property, plant and equipment comprise a significant portion of the total fixed assets. The annual depreciation charge depends primarily on the estimated useful economic lives of each type of asset and estimates of residual values. The Trustees regularly review these assets useful economic lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset useful lives can have a significant impact on depreciation charges for the period. Details of the depreciation policies based on estimated useful economic lives are included in the accounting policies.
Page 11
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
4. Income from donations and legacies
| Unrestricted funds 2022 £ Donations Show Activities 8,433 Unrestricted funds 2021 £ Donations Show Activities 2,672 Subtotal detailed disclosure 2,672 Grants 5,000 Subtotal 5,000 Total 2021 7,672 |
Total funds 2022 £ 8,433 |
|---|---|
| Total funds 2021 £ 2,672 |
|
| 2,672 | |
| 5,000 | |
| 5,000 | |
| 7,672 |
Page 12
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
5. Income from charitable activities
| Unrestricted funds 2022 £ Show Activities 109,620 Unrestricted funds 2021 £ Show Activities 14,881 |
Total funds 2022 £ 109,620 |
|---|---|
| Total funds 2021 £ 14,881 |
6. Investment income
Bank interest receivable
| Unrestricted | Total | Total |
|---|---|---|
| funds | funds | funds |
| 2022 | 2022 | 2021 |
| £ | £ | £ |
| 17 | 17 | - |
7. Other incoming resources
| Insurance claims Unrestricted funds 2021 £ Insurance claims 4,950 |
Total funds 2022 £ - |
|---|---|
| Total funds 2021 £ 4,950 |
Page 13
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
8. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2022 £ Show Activities 114,506 Unrestricted funds 2021 £ Show Activities 29,441 |
Total 2022 £ 114,506 |
|---|---|
| Total 2021 £ 29,441 |
9. Analysis of expenditure by activities
| Show Activities Show Activities |
Activities undertaken directly 2022 £ 90,499 Activities undertaken directly 2021 £ 10,307 |
Support costs 2022 £ 24,007 Support costs 2021 £ 19,134 |
Total funds 2022 £ 114,506 |
|---|---|---|---|
| Total funds 2021 £ 29,441 |
Page 14
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
9. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Advertising Hire of plant and equipment Horse section expenses Insurance Judge fees and expenses Prize money, trophies and rosettes Rent Show day staff Showfield entertainment and commentary Society affiliation fees, levies and RIHS levy Tent hire Industrial section expenses Toilet hire Other salaries, expenses and training Printing, stationery and postage Hire of plant and equipment Insurance Judge fees and expenses Prize money, trophies and rosettes Show day staff Society affiliation fees, levies and RIHS levy Printing, stationery and postage |
Show Activities 2022 £ 75 10,632 1,485 2,273 1,488 16,636 10,000 15,965 4,900 561 18,298 129 611 4,855 2,591 90,499 Show Activities 2021 £ 3,403 1,056 851 3,020 1,640 272 65 10,307 |
Total funds 2022 £ 75 10,632 1,485 2,273 1,488 16,636 10,000 15,965 4,900 561 18,298 129 611 4,855 2,591 |
|---|---|---|
| 90,499 | ||
| Total funds 2021 £ 3,403 1,056 851 3,020 1,640 272 65 |
||
| 10,307 |
Page 15
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
9. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Depreciation Fees for accountancy Sundry expenses Computer costs Telephone and postage Bank charges Staff costs Depreciation Fees for accountancy Sundry expenses Computer costs Telephone and postage |
Show Activities 2022 £ 14,032 416 3,169 2,087 2,978 1,058 267 24,007 Show Activities 2021 £ 12,308 2,109 2,114 1,143 623 837 19,134 |
Total funds 2022 £ 14,032 416 3,169 2,087 2,978 1,058 267 |
|---|---|---|
| 24,007 | ||
| Total funds 2021 £ 12,308 2,109 2,114 1,143 623 837 |
||
| 19,134 |
10. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £720 (2021 - £650) , and accounts preparation of £1,890 ( 2021 - £1,680 ).
Page 16
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
11. Staff costs
| Secretary's salary, expenses and training Social security costs Contribution to defined contribution pension schemes |
2022 £ 13,493 321 218 14,032 |
2021 £ 12,136 - 172 |
|---|---|---|
| 12,308 |
The average number of persons employed by the Charity during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Employees | 1 | 1 |
No employee received remuneration amounting to more than £60,000 in either year.
No remuneration was paid to key management personnel during the period.
12. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 30 September 2022, no Trustee expenses have been incurred (2021 - £NIL) .
Page 17
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
13. Tangible fixed assets
| Cost or valuation At 1 October 2021 Additions At 30 September 2022 Depreciation At 1 October 2021 Charge for the year At 30 September 2022 Net book value At 30 September 2022 At 30 September 2021 |
Materials and showfield expenses £ 2,148 1,576 3,724 1,990 151 2,141 1,583 158 |
Site costs £ 8,841 - 8,841 8,841 - 8,841 - - |
Office and computer costs £ 6,943 815 7,758 6,083 265 6,348 1,410 860 |
Total £ 17,932 2,391 |
|---|---|---|---|---|
| 20,323 | ||||
| 16,914 416 |
||||
| 17,330 | ||||
| 2,993 | ||||
| 1,018 |
14. Debtors
| Due within one year Trade debtors Other debtors Prepayments and accrued income |
2022 £ 310 2,872 - 3,182 |
2021 £ 100 553 1,654 2,307 |
|---|---|---|
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CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
15. Creditors: Amounts falling due within one year
| Other taxation and social security Other creditors Accruals and deferred income Deferred income at 1 October 2021 Amounts released from previous periods |
2022 £ - 43 2,734 2,777 2022 £ 21,436 (21,311) 125 |
2021 £ 182 68 23,765 24,015 2021 £ 22,215 (779) 21,436 |
|---|---|---|
Deferred income relates to income received in respect of entry fees, trade stands and sponsorship for the 2020 show, which has been cancelled as a result of the Covid-19 pandemic.
Attendees were given the option to carry their funds forward against future shows, donate their fees to the charity, or receive a refund.
Page 19
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
16. Statement of funds
Statement of funds - current year
| Balance at 1 October 2021 £ Unrestricted funds General Funds 82,179 Restricted funds Scholarships 1,250 Total of funds 83,429 |
Income £ Expenditure £ 118,070 (114,506) - - 118,070 (114,506) |
Balance at 30 September 2022 £ 85,743 |
|---|---|---|
| 1,250 | ||
| 86,993 |
Scholarships
The scholarship is to support the next generation of our local rural and farming community with a ‘once in a lifetime’ opportunity to travel in the UK, Europe or worldwide to learn more about a chosen agricultural subject which will benefit their business, broaden their horizons, as well as being beneficial to the wider rural/farm community, through communicating what has been learnt and the possible benefits to others. The donations received have been combined to assist with the basic cost of budget accommodation and travel of the applicants. Applicants have to send in an application and are interviewed.
Page 20
CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
16. Statement of funds (continued)
Statement of funds - prior year
| Balance at 1 October 2020 £ Unrestricted funds General Funds 84,117 Restricted funds Scholarships 1,250 Total of funds 85,367 17. Summary of funds Summary of funds - current year Balance at 1 October 2021 £ General funds 82,179 Restricted funds 1,250 83,429 Summary of funds - prior year Balance at 1 October 2020 £ General funds 84,117 Restricted funds 1,250 85,367 |
Income £ Expenditure £ 27,503 (29,441) - - 27,503 (29,441) Income £ Expenditure £ 118,070 (114,506) - - 118,070 (114,506) Income £ Expenditure £ 27,503 (29,441) - - 27,503 (29,441) |
Balance at 30 September 2021 £ 82,179 |
|---|---|---|
| 1,250 | ||
| 83,429 | ||
| Balance at 30 September 2022 £ 85,743 1,250 |
||
| 86,993 | ||
| Balance at 30 September 2021 £ 82,179 1,250 |
||
| 83,429 |
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CUMBERLAND AGRICULTURAL SOCIETY
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
18. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Tangible fixed assets 2,993 Current assets 85,527 Creditors due within one year (2,777) Total 85,743 |
Restricted funds 2022 £ - 1,250 - 1,250 |
Total funds 2022 £ 2,993 86,777 (2,777) 86,993 |
|---|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 1,018 105,177 (24,015) 82,180 |
Restricted funds 2021 £ - 1,250 - 1,250 |
Total funds 2021 £ 1,018 106,427 (24,015) 83,430 |
|---|---|---|---|
19. Pension commitments
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £218 (2021 - £172). Contributions totalling £43 (2021 - £34) were payable to the fund at the balance sheet date and are included in creditors.
20. Related party transactions
The Trustees provide free of charge services which are not reflected in the financial statements as it is deemed a voluntary cost and is not quantifiable.
Page 22