**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:
1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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_|
|---|---|---|
Page 18
## **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_|
Page 21
## **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