**Charity registration number 1182836**
**Company registration number 10781470 (England and Wales)**
## **PENISTONE AGRICULTURAL SOCIETY LTD**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Council**|Mr M R Oliver|
|---|---|
||Mr N Hoyland|
||Mrs P M Alsop|
||Miss J Clegg|
||Mrs P Basham|
||Mr N Woodhams|
|**Charity number**|1182836|
|**Company number**|10781470|
|**Registered office**|Bridge Street|
||Penistone|
||Sheffield|
||South Yorkshire|
||S36 6AJ|
|**Independent examiner**|Simpson Wood Limited|
||Bank Chambers|
||Market Street|
||Huddersfield|
||HD1 2EW|
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **CONTENTS**
||**Page**|
|---|---|
|Council's report|1 - 3|
|Statement of Council's responsibilities|4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8 - 18|
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **COUNCIL'S REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
The Council present their annual report and financial statements for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Society's governing document, the Companies Act 2006 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
## **Objectives and activities**
The Society's objects are
- to promote and advance agriculture and horticulture for the benefit of the public in Penistone and surrounding areas by holding exhibitions and classes of breeding and other stock, agricultural implements and such other classes, displays and exhibitions connected with agriculture, horticulture and the show as may be determined by the trustees; thereby encouraging skill and industry in agriculture and in allied trades, craft and professions connected with the rural economy.
- to make such grants and donations to such registered charities and voluntary organisations that benefit the public in Penistone and surrounding areas, as the trustees shall from time to time determine.
- to make such grants that assist residents in Penistone and the surrounding areas to further their education in trades, vocations, and professions linked to agriculture, horticulture or other trades connected to the rural economy, through recognised training by individuals or educational establishments.
To this end the Society holds an annual one-day agricultural show and supports and works with a number of local charitable organisations to enable it to bring the show to the public.
The Council have paid due regard to guidance issued by the Charity Commission in deciding what activities the Society should undertake.
## **Achievements and performance**
In June 2022 we were delighted to celebrate the Queen’s Platinum Jubilee with an event on our show field which was greatly appreciated by the public of Penistone and the surrounding areas with a beacon lighted and St Johns Church clock tower illuminated.
Recovery from the loss of our storage trailer was hampered by supply chain delays and shortages but with help from our trusted suppliers and a huge effort by our volunteers we were able to hold a successful show in September 2022. New ticketing systems ensured prompt entry into the show and we continue to improve our infrastructure to benefit visitors and traders alike.
The Council wish to record their gratitude to all involved in the ongoing work being undertaken in order to take the Society forward to celebrate our 150[th] show in 2023.
## **Financial review**
Income for the year was boosted by the finalisation of the insurance claim following our trailer fire (£39,291) (2021 £6,190). The total income for the year therefore amounted to £218,723 and resources expensed in the year amounted to £179,246 resulting in a net surplus of £39,477. This compares with the previous accounting period from 1 January 2021 to 31 December 2021 which showed income of £235,811 and resources expended of £138,109 resulting in a net surplus of £97,702. We were pleased to support local charities with discounted and free trade stands at the show our designated fund and having taken into account exceptional items for the year the trustees have agreed a further £850 be set aside for the designated fund in 2022.
This level of reserves has been maintained throughout the year.
- 1 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **COUNCIL'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
It is the policy of the Society that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Council consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Society’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The Council have assessed the major risks to which the Society is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The Society is a registered charity and was incorporated on 20 May 2017 as acompany limited by guarantee and having no share capital.
The Council, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr M R Oliver
Mr N Hoyland Mrs P M Alsop Miss J Clegg Mrs A E Wainwright (Resigned 29 November 2022) Mrs P Basham Mr N Woodhams
In accordance with the Articles of Association, any person who is willing to act as a director, and is permitted by law to do so, may be appointed to be a director:
(a) by ordinary resolution; or
(b) by a decision of the directors; or
A person ceases to be a director as soon as;
(a) by virtue of any provision of CA 2006 or is prohibited from being a director by law; or
(b) a bankruptcy order is made against that person; or
(c) a composition is made with that person's creditors generally in satisfaction of that person's debts; or
(d) a registered medical practitioner who is treating that person gives written opinion to the company stating that that person has become physically or mentally incapable of acting as a director and may remain so for more than three months; or
(e) notification is received by the company from the director that the director is resigning from office ad as such resignation has taken effect in accordance with its terms; or
(f) is absent without the permission of the directors from all their meetings held within a period of six consecutive months and the directors resolve that his or her office is vacated; or
(g) ceases to be a member of the charity.
At each annual general meeting one third of the directors are required to retire by rotation. The directors to retire by rotation are those who have been longest in office since their last appointment.
None of the Council has any beneficial interest in the company. All of the Council are members of the company and guarantee to contribute £1 in the event of a winding up.
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
- settle the terms of payment with suppliers when agreeing the terms of each transaction;
- ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
- pay in accordance with the company's contractual and other legal obligations.
- 2 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **COUNCIL'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
Each of the Council has confirmed that there is no information of which they are aware which is relevant to the independent examination, but of which independent examiner is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that independent examiner is aware of such information.
The Council's report was approved by the Board of Council.
**Mr N Hoyland** Council member Dated: 20 June 2023
**Mr N Woodhams** Council member Dated:20 June 2023
- 3 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **STATEMENT OF COUNCIL'S RESPONSIBILITIES** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
The Council, who are also the directors of Penistone Agricultural Society Ltd for the purpose of company law, are responsible for preparing the Council's 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 Council to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Society and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Council are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Society will continue in operation.
The Council are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Society 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 Society and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- 4 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE COUNCIL OF PENISTONE AGRICULTURAL SOCIETY LTD**
I report to the Council on my examination of the financial statements of Penistone Agricultural Society Ltd (the Society) for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the Council of the Society (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 Society 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 Society’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:
- 1 accounting records were not kept in respect of the Society as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 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.
## **Simpson Wood Limited**
Bank Chambers Market Street Huddersfield HD1 2EW
Dated: 20 June 2023
- 5 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**Unrestricted Unrestricted**
**funds**
**funds**
**General**
**Designated**
**2022**
**2022**
**Notes**
**£**
**£**
**Income and endowments from:**
Membership fees and
sponsorship
**2**
12,608
-
Charitable activities
**3**
166,824
-
Other income
**4**
-
39,291
**Total income**
179,432
39,291
**Expenditure on:**
Charitable activities
**5**
172,218
7,028
**Net incoming resources**
**before transfers**
7,214
32,263
Gross transfers between
funds
(850)
850
**Net income for the year/**
**Net movement in funds**
6,364
33,113
Fund balances at 1 January
2022
147,385
10,727
**Fund balances at 31**
**December 2022**
153,749
43,840|**Total Unrestricted Unrestricted**
**funds**
**funds**
**General**
**Designated**
**2022**
**2021**
**2021**
**£**
**£**
**£**
12,608
71,463
2,054
166,824
156,104
-
39,291
1,440
4,750
218,723
229,007
6,804
179,246
138,109
-
39,477
90,898
6,804
-
(3,923)
3,923
39,477
86,975
10,727
158,112
60,410
-
197,589
147,385
10,727|**Total**
**2021**
**£**
73,517
156,104
6,190|
|---|---|---|
|||235,811|
|||138,109|
|||97,702
-|
|||97,702
60,410|
|||158,112|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 6 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2022**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
Investments
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds
Designated funds
**16**
General unrestricted funds|**2022**
**£**
1,240
144,478
145,718
(11,085)
43,840
153,749|**£**
62,955
1
62,956
134,633
197,589
197,589
197,589|**2021**
**£**
2,494
139,973
142,467
(5,549)
10,727
147,385|**£**
21,193
1|
|---|---|---|---|---|
|||||21,194
136,918|
|||||158,112|
|||||158,112|
|||||158,112|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Council on 20 June 2023
|Mr N Hoyland|Mr N Woodhams|
|---|---|
|**Trustee**|**Trustee**|
|**Company Registration No. 10781470**||
- 7 -
**PENISTONE AGRICULTURAL SOCIETY LTD**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **Charity information**
Penistone Agricultural Society Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Bridge Street, Penistone, Sheffield, South Yorkshire, S36 6AJ.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Society's governing document, the Companies Act 2006 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The Society is a Public Benefit Entity as defined by FRS 102.
The Society has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Society. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Council have a reasonable expectation that the Society has adequate resources to continue in operational existence for the foreseeable future. Thus the Council continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Council in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the Council for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Society.
## **1.4 Income**
Income is recognised when the Society is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Society has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Society has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 8 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
**(Continued)**
## **1.5 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 are allocated on the portion of the asset’s use.
Expenditure is stated on an accruals basis and includes value added tax.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
|Freehold land and buildings|No depreciation|
|---|---|
|Plant and equipment|25% straight line|
|Fixtures and fittings|15% straight line|
|Computers|33% straight line|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
A subsidiary is an entity controlled by the Society. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
## **1.8 Impairment of fixed assets**
At each reporting end date, the Society reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 9 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.10 Financial instruments**
The Society has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Society's balance sheet when the Society becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the Society’s contractual obligations expire or are discharged or cancelled.
## **1.11 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Society is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
- 10 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **2 Membership fees and sponsorship**
|**Unrestricted**
Unrestricted
Unrestricted
**funds**
funds
funds
**general**
general
Designated
**2022**
2021
2021
**£**
£
£
Donations and gifts
12,608
71,463
2,054
**Donations and gifts**
Other
12,608
71,463
2,054
12,608
71,463
2,054|Total
2021
£
73,517|
|---|---|
||73,517|
||73,517|
## **3 Charitable activities**
||**Show**|**Show**|
|---|---|---|
||**income**|**income**|
||**2022**|**2021**|
||**£**|**£**|
|Show income|166,824|156,104|
## **4 Other income**
||**Unrestricted**|Unrestricted|Unrestricted|Total|
|---|---|---|---|---|
||**funds**|funds|funds||
||**Designated**|general|Designated||
||**2022**|2021|2021|2021|
||**£**|£|£|£|
|Insurance claims|39,291|1,440|4,750|6,190|
- 11 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **5 Charitable activities**
|Depreciation and impairment
Show expenses
Charitable donations
Grant funding of activities (see note 6)
Share of governance costs (see note 7)
**Analysis by fund**
Unrestricted funds - general
Unrestricted funds - Designated
**For the year ended 31 December 2021**
Unrestricted funds - general
**Show expenses**
Hire of Marquees
Prize money
Trophy/badge costs
Fees
Show entertainment
Hire of equipment
Printing
Advertising & promotion
Depreciation
Catering lunches & teas
Queen's Jubilee Event Expenses
Repairs & Renewals|**2022**
**£**
3,181
153,640
-
156,821
462
21,963
179,246
172,218
7,028
179,246
138,109
37,417
5,830
2,580
1,690
3,758
85,915
2,829
1,160
936
6,165
1,975
3,385
153,640|**2021**
**£**
-
121,240
1,000|
|---|---|---|
|||122,240
-
15,869|
|||138,109|
|||138,109
-|
|||138,109|
|||29,602
5,284
1,889
939
3,025
69,053
2,914
237
830
7,467
-
-|
|||121,240|
- 12 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **6 Grants payable**
|Grants to organisations|**2022**
**£**
462
462|2021
£
-|
|---|---|---|
|||-|
## **7 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Legal and professional
-
1,320
Insurance
-
3,385
Rent & rates
-
2,860
Telephone and postage
-
45
Sundry
-
2,339
Other governance
-
588
Bank charges
-
10,449
Repairs and renewals
-
977
-
21,963
Analysed between
Charitable activities
-
21,963|**2022**
**£**
1,320
3,385
2,860
45
2,339
588
10,449
977
21,963
21,963|2021
£
1,299
2,785
2,860
40
2,910
469
5,506
-|
|---|---|---|
|||15,869|
|||15,869|
## **8 Council**
None of the Council (or any persons connected with them) received any remuneration or benefits from the Society during the year.
## **9 Employees**
The average monthly number of employees during the year was:
|**2022**|**2021**|
|---|---|
|**Number**|**Number**|
|6|6|
There were no employees whose annual remuneration was more than £60,000.
- 13 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**10**
**Tangible fixed assets**
**Freehold land**
**and buildings**
**Plant and**
**equipment**
**Fixtures and**
**fittings**
**Computers**
**£**
**£**
**£**
**£**
**Cost**
At 1 January 2022
19,500
-
-
2,523
Additions
8,168
24,012
12,744
955
At 31 December 2022
27,668
24,012
12,744
3,478
**Depreciation and impairment**
At 1 January 2022
-
-
-
830
Depreciation charged in the year
-
2,578
603
936
At 31 December 2022
-
2,578
603
1,766
**Carrying amount**
At 31 December 2022
27,668
21,434
12,141
1,712
At 31 December 2021
19,500
-
-
1,693|**Total**
**£**
22,023
45,879|
|---|---|
||67,902|
||830
4,117|
||4,947|
||62,955|
||21,193|
- 14 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**11**
**Fixed asset investments**
**Cost or valuation**
At 1 January 2022 & 31 December 2022
**Carrying amount**
At 31 December 2022
At 31 December 2021
Other investments comprise:
**Notes**
Investments in subsidiaries
**19**
**12**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Amounts owed by subsidiary undertakings
Other debtors
Prepayments and accrued income
**13**
**Creditors: amounts falling due within one year**
**Notes**
Deferred income
**14**
Trade creditors
Other creditors
Accruals and deferred income|**Other**
**investments**
1
1
1
**2022**
**2021**
**£**
**£**
1
1
**2022**
**2021**
**£**
**£**
-
1,701
-
113
-
680
1,240
-
1,240
2,494
**2022**
**2021**
**£**
**£**
790
-
8,906
300
-
1,235
1,389
4,014
11,085
5,549|
|---|---|
- 15 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **14 Deferred income**
|Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities|**2022**
**£**
790
**2022**
**£**
790|**2021**
**£**
-|
|---|---|---|
|||**2021**
**£**
-|
## **15 Share capital**
The Society is a company limited by guarantee and having no share capital. The liability of each member is limited to £1.
- 16 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **16 Designated funds**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
|||**Movement in funds**|**Movement in funds**|||**Movement in funds**|**Movement in funds**|||
|---|---|---|---|---|---|---|---|---|---|
||**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**|
||**1 January 2021**|**resources**|**expended**||**1 January 2022**|**resources**|**expended**||**31 December**|
||||||||||**2022**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|Percentage of profit to be issued as grants to||||||||||
|other organisations|3,600|-|(1,000)|1,323|3,923|-|(462)|850|4,311|
|Funds towards building on show field|-|6,804|-|-|6,804|39,291|(6,566)|-|39,529|
||3,600|6,804|(1,000)|1,323|10,727|39,291|(7,028)|850|43,840|
- 17 -
## **PENISTONE AGRICULTURAL SOCIETY LTD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**17**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Designated**
**funds**
**2022**
**2022**
**£**
**£**
Fund balances at 31
December 2022 are
represented by:
Tangible assets
29,380
33,575
Investments
1
-
Current assets/(liabilities)
124,543
10,090
153,924
43,665|**Total**
Unrestricted
funds
Designated
funds
**2022**
2021
2021
**£**
£
£
62,955
21,193
-
1
1
-
134,633
126,191
10,727
197,589
147,385
10,727|Total
2021
£
21,193
1
136,918|
|---|---|---|
|||158,112|
## **18 Related party transactions**
During the year the share capital of Penistone Agricultural Show Ltd was donated to the society by Penistone Agricultural Society Holdings Ltd at it's share value of £1.
## **19 Subsidiaries**
These financial statements are separate Society financial statements for Penistone Agricultural Society Ltd.
Details of the Society's subsidiaries at 31 December 2022 are as follows:
|**Name of undertaking**|**Registered**|**Nature of business**|**Class of**|**% Held**|
|---|---|---|---|---|
||**office**||**shares held**|**Direct Indirect**|
|Penistone Agricultural Show|
England|Agricultural amusement and|Ordinary|100.00|
|Limited||recreation activities|shares||
- 18 -