Charity Reglstratlon No. 1185252 ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 RickardLuckin ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS LEGALAND ADMINISTRATIVE INFORMATION Trust•es S Crosby B Elms Leeder G French J F18eman (Appointed 15 November 2023) Charlty number 1185252 Prlnclpal address Vvhilbreads Barn Wthitbreads Lane Chalhatn Green Essex CM3 3LQ Indeppndent examlntrr Rickard Luckin ￿rnited 181 Floor County Hciuse 100 New London Road Chelmsford Essex CM2 ORG Bankers Barclays Bank PIC 40 41 High Stre8t Chelmsford Essèx CM1 18E ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS CONTENTS Page Trustees report Independent exatninerfs report Slalement of financial 8Ctivi118S Balance she6t Noles lo Ihts finan¢iÈl $laltsmènls 7-17 ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees are pleased to present thoir annual report and the financial slalements of the Essex County Federalion of Young Farmers Clubs for the year ending 31 August 2D24. The accounts have been prepared In accordance with the accounling policies sel out in note 1 to the accounts and comply with the charilfs constltution, the Charities Act 2011 and 'Aecounting and Reportinq by cha￿tIes.. statement of Rewmmended Practice applieable to char¢lie8 preparing their account5 in accordance with the Financial Reporting Standard applicabl8 in the UK and Republic ol Ireland (FRS 1021 (effective 1 January 20191 and updated by b￿l￿tinS one and fv40. The trustees review the aims, objeclivgs and activit1&5 of the charity al meetings dufing the year and confirm that they have ￿gard to the Charity Commissions guidantte on public benefit in planning f4Jlure charitable activily. Oblectlves and activities The Essex County Federation is an a8sociat*on of young 18rmeT clubs in Es8ex, ¢realad in acEordGiriLe with the form of constitution and rules ftsT Ihe county federations approved by the Council of the Natlonal Federalon ol Young Farmers Clubs. On 10 S&pt8mber 2019 the Essex Federation converted from an unincorporated oharlly (No. 301449) to a CharÈlabl8 Incorporated Organisation IGIOI, registered number 1185252 and a full copy ol the constilulion is available for inspection at the FEderation's offices at Whllbreads Barn, Whilbreads Lane, Chalham Green, Chelmsford, Essex CM3 3LQ. The charily has a wholly owned subsidiAry EYF Fundraising Limited through whidi the country 8how is iufl. The Essex County Foderalion of Young Farmers Clubs IECFYFCI aims to advance the education of yot*ng members of the pubh'c in agrSculture, home crafts and country life. In the interests of the Social welfare of such members il aims lo provide and promote lacililies for recTeation and othei 1215ure lime occupalion. The aim is to assisl in the developrn8nt Of sèlf-reliance and indlvidual responsibility- To aCh￿ve $18 objectives the ECVIFC co-ordinates the aclivili8s of young famier clubs In Essex. The admlnlstratlon of the work of th8 ECFYFC is vested in.. l. A General Commiltee 11. An Execullvo CoMm￿lee The Execullve Committee appointed th8 Inv8Sttn8nt Trustees lo hold and control securities owned by the ECFYFC. The General Tru5tB8s manage the running of the Federation. The tsustees ale 818cled at the eharity's AGM and can serve for 4 years. The Executive Commlllee appoints from ils memb81S. 8 Flnance and General Purpose Comtnillee and an Honorary Treasurer. Drawings frotn bank accounts opened In the name of ECFYFC mu81 be approved by Ihe (x)mmitlee. Actlvlties In the past year acllvibes have Included training and dev81opmènl days. sporting and non sporting competitions. countryside events, socials and as515tance for other charity orggnis8tions. The annual Country Show, altended by over 15,000 peoFIg, highlights the many and varied skills of th6 federation's members and is 8 Very Special opportunity for the per80nal development of mernbers. Overseas Exchange Visit5 Bnd other educalional and tralnlng events are available through ECFYFC 81fi￿atIon to the National Federation ol Young Farmers Clubs. ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS TRUSTEES REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 Achlèv8mènts and performancè Investments Such mtsnies as shall nol be required for imrnedialè use shall, with Ihe consent of the General Committee, be invested in any investments in which Ihe Trustees are aulhorised lo invest by law. Flnanclal revlew The Essex County Federation of Young Famiers Clubs requires re8erves lo protect ils current activities and provide funding for the long term projects lo progress them lo cornplelioll, In OTder lo allow tho Trustees lo mgel their resptsnsibilities and to ensLire Ihal the Charity call conlinue lo operate on a going concern basis. The Trustees havg examined the needs, risks and challenges faced by Ihe Federation in the short and medium term, along wilh the relevant financial fvrecasts. and have cuiisidEred a policy lo Ineel those needs. In Ihe inleriin they are salisfied Ihat the level of reserve held at 31 August 2024 is required for the current and following year. As al 31 August 2024 unrestricted reserves stand at £206,820 (2023.. £179,520), of which £10.5e1 12023.. £12,035) is made up ol d8signat8d res8tV8s. AS at 31 Augltst 2024 Free reserves stands at £206.42012023'. £179,120). structure, govemance and managemgnt The trust Is govemed by its constitution dated 10 Septembw 2019. On this dale the charily converted lo a CIO- Charitable Incorporated Organisation. The Iruslees who served during the yeaT and up lo the dale of signature of the flnaneial statements were.. S Crosby B Elms M Leeder G F￿nch J Carey J Freeman {Rgsigned 15 Novernber 20231 (Appointèd 15 November 20231 New Iru8tees are appoillled by existing Iru51ees from acllng members of the ECFYFC. Tr£lning is undertaken by existing Iruslees dependent on the Ir¢*steg5 role. The day lo day management of Ihg ¢harily is delegaled to Ihe officers as listed below,. Cc)unty President J8ne C818y Treasurer Nathan Chapman F & GP Chaimian Jack Bosworth County Chairman Hamish Beaton Investment Trustees Simon Crosby Bob Elm6 Jane Carey (resigned 15 November 20231 Miles Leeder Guy French Jeremy Freeman {Appoinled 15 November 20231 Trustee, indemnities The charity has taken oul trustee indemnity insurance. Thi8 insurance protects trustees Irorll c18ims arising negligent acts. errors or oillissions occurring for up lo £500,000, ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 The trustees Teport was approved by Ihe Boa¥d of Trustees. M Leeder County Chairmen Date.. ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS I r8pDrt lo the trustees Dn my examination of the financial slalemenls of Essex County Federation of Young Farmers Clubs Ilhe charilyl for the year ended 31 August 2024 whlch comprise the Slalemenl of Financial Act*vilies, the 8alance Sheet and related notes. This report is made solely lo the charlty's Iruslees, a8 a body. in accordance with section 145 of the Charities Act 2D11. My work has been undertaken so that I might stsle to the chaTIIy's trustees Ihose matters l am required lo stale lo them in this report and for no other purpose. To thè fullest exlenl permitted by law, I do not accept ￿ assume responsibllity lo anyone other than the ¢harily and the charity's Ifuslees as a borty, for my woik, for this report. or for the opinions I hav& formed. Responslblllties and basls of report As the ttusle88 of the charity you aro responSIb￿ for the preparation of th? financial slalemenls in aw>rdance with the requiramenl8 of the Charities Act 2011 Ith8 2011 Acti. I report in respect of my examination ol the charity's financial slatemènls c8rried c>ul undèr section 145 of the Act and In carrying out my examination I have followed all the aptAi¢able Directions given by the Charity Commission under section 14515}Ib) of theAcl. An independent examination does not involve gathering all the evidence that would be required in an audit and cons8qu6nlly d08s not cover 811 the mallers that an auditor considers in giving their opinion on the financial slalemenls. The planning and conduct of an audit goes beyond the limited assuranc8 that an independent ?xaminalioii can provide, Consequently l express no opinlon as lo Wheth￿ the financlal statements present a true and falr. view and my report 15 limited lo those 8pecific matter8 8el out in the independent examin&r's slalemenl. Independent examlner's statement I have completed my examination. I conflrm that no mallers have como lo my attention in connection wlh the xaminallon glvtng me cause to belleve that in any material r¢specl- accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act or the financial slalemenls do not accord wlh those r￿ords., or the financlal statements do not comply with the applicable requirements concèming th8 form and conlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 olher than any requirement that the accounts give a true and fair v$8w which is not 8 maller considered as part of an independer*l examination. I have no concerns and have come across no olhor mallers in connection with the examination to which allentlon shDuld be drawn in this report in order lo enable a proper understanding of the financial statements lo reached. Janine Mansfi'eld FCA Rickard Lu¢kin Limited Chartered Accounlanls 151 FIOOT County House 100 New London Road Chelmsford Essex CM2 ORG o)0 ¢4 li¢ios adopted are sel out below. The accounts have departed fTom the Charilles (Accounts and Reptsrtsl Regulations 2008 only lo the extent required tD provide a Iiue and fair view. This departure has involved following the Slalement ol Recomrnended PraCt￿e for charities applying FRS 102 rslher than the version of Ihg Slalam8nt ol Recommended Practice which is refeired lo in the RegulatlQn5 but which has since been withdrawn. 1.2 Going concern Al the time of approving the financial 8t8lemenls, the INJstees have a reasonable expectslion that th8 charity has adequate resources lo continue in operational existence ftsr the foreseeabl& future. Thus the trustees continue to adopt the going concern basis of accounting In preparing the financial stalemenl8. 1.3 Charltable funds Unresliicled funds are availabte for use at the discretion of the trustees In furtherance ol Iheir charitable obje¢lives. D8slgnat8d funds comprise funds which have been sel asidè at the dIscret￿n of the Iruslees for st￿Clfie purptrses. The pursx)ses and uses of the dgsignaled funds are set out in the notes to the financial Slalerllenls. Restricted funds are subject lo spooific conditions by donors or grantors as lo how they may be used. The purposes and uses of the resliicled funds are Sel out in the notes lo the financial slalemenls, 1.4 Income Income Is recognised when the charity is legally enlilled lo il after any performance condilions have been met, the amounts can be measured reliably, and il is probable that income will be reoeived. Cash donations are recognised on receipt. Other donation5 are recognised once the charity has been notified of the donation. unless performance condition5 require deferral of thg amount. Income tax iocoverable in relallon lo donations received under GiftAid trr deeds Cpf covenant is recognisod al the lime of the doEtation. Investment income and arriliatlon fees ￿￿ accounled for on an accruals basis. The Income from fundraising ventures is shown gross. Grants receivable are recognised in tho period that they are received and analysed to the appropriate fund per the grant conditions. Where funds are ie¢eived for a pariicular purptrse they are allocated lo the appropriate restricted lund. ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policles (Continued) 1.S Expenditure Expenditu￿ 15 recognised once theTe is a legal or conslruclive obligat￿￿ tD trAnsfer economic benell lo a third party, It Is probable that a Ifansfgr of economtc benefits will be r8quired In settlement, and the amount of the obl￿￿tion can be measured ieliably. Expendllurè is das$￿ed by aclivily. The costg of each activity are made up of the total of dire¢l costs and shared costs, including 5UPPOrt ¢ost8 involved in undertaking each activity. Diroot C051s attrlbutAble ttr a single activity are allocated directly lo Ihal aclivily, Shared cos(s wIIiLli contribute lo more than one aclivily and support costs which are not attributable to a Single activity are apportioned between those aetivities on a basis consislenl with the use of reSoUr￿s. Central staff costs are a11ocaled on tho basls of Ilme spent, and depreciation chaiges are allocatEd on the portion of Ihe assat's use. Resnurc8s expended are accounlod for on an accruals basis. The majority of costs are d1￿clIY attributable lo specific aclivilies. ExpBndituie L)n the show is treated as direcl charitable expenditure. VAT. which is not recoverable, is included with the item of expen80 to which it relates. Fundraising exp8nditure represents the costs inouiied in staging fundraising activtti88 In the yea¥. Governance cosls ère the cost5 a5suualed with the governance sjrrangemenls ol tho chaiity. These costs are associated with con51ilulional and statutory requirements and irtclude any costs associated with the st¥ategic management of the charIt￿S actwities. 1.6 Tangible flxed assets Tangible fixed assets are initially measured at cost and svbsequenlly measured al cost or valuation, nèl ol deprociatson and any impairm8nl1088e8. Depreciation is re￿nised 50 as lo write off the cost QT valLJ8llon of assets sess their residu81 valu85 over their usttful lives on the following bases.. Land and buildings Plant and rnachinery elc 2% straight line on buildings, O°A on land 10 to 33.3 /0 Straight line The gain or loss arisiFsg on the disp05al of an asset is deterfflln6d as the difference beiweeN the sale proceeds and the carrying value of the a55et, and is recognised net incomel{expendilurel for the year. 1.7 Flxed asset investments Fix8d ass81 Investments are initially measured at transaction price excluding transaction c081s. and are subsequently measured at fair value al eaoh reporting dale. Changes in fair Val￿ are recogttised in n81 incomell8xp¢ndilurel for the year. Transaction costs are expensed as inGurred. q.8 Impalmient of fixed a8sets Al each reporting end date, the charity reviews the carrylng amounts of its tangible assets to delerrning wh?ther there is any indicallon thal those assets hav8 sl￿ere￿ an impaimient 1055. If any such Ind￿allOn exisls, the recoverable afflount of the asset Is 8StiMaled in order to determine the extent of the impaimenl loss lif anyl. 1.9 Cash and cash equivalents Cash and cash equivalen15 include cash in hand, deposits held al eall with banks and olher short-lerm liquid investments with original m8lurilies of thrBe months or less. ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng policies Iconlinuedl 1.10 Flnancial instruments The charity has elected to apply the provisions of Section 11 'Ba51c Financial Instruments, and Secllon 12 'Olher Financial Inslrumonls Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the charitys balance shget when the charity becomes paty lo the contraclual provisions of th8 Instrument. Flnanck)l assels and liabili1198 are offset, wllh the net amounts preSe￿ted in the financial stalemenls, when th8re is a legally enforceablg right to set off the recognised amounts and there is an intention lo sellle on 8 rhet basis or lo realise the a8s81 and $8tt1e the liability simultaneously. 8aslc financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al Irans8clion price including transaction costs and are subsequently carried at awortised Gvsl using th8 effective interest IriEthod unless the arrangement constitutes a financing Iransactiotl, where Ihe transaction 15 measvred al the presenl value ol the futLJre ￿teipts discounted al a market rale of interest. Financ(al assets dassified a5 reeeivable within one year are not amortised. Basic financial IKabllltlos Basic finanaal liabilities, induding credilors and bank loans are inilially recognised at transaction price unless the ariangement eonstitules a finanong transaction, where Ihe debt inslrurnent Is measured at the present V8lu8 of Ihe future paymen18 discounted at a market rate ol inleresl. Financial liabilitles dassified as payable within one year are not amortised. Debt instruments are subsequently carrled al amortlsed cost, using the effective in18r88t rate method. Trade creditor5 are obligations lo pay lor goods or setvlces that have hpen acquired in the ordinary course ol operations from suppliers. Amounts payable are cL4ssified as current liabilities if paytllent is due within one year or less. If not, thEy are presented as nott-current liabilities. Trade creditors ai8 recognised Initially al transaction price and subsequently measured al amortised cost using the offoclive interest method. Derecognition of fin81JC181 Ilabllltios Financial liabilities are dEre¢ognised when the charity's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday èntitlement is recogn¢sed in the period irb which the Bmployee's servi￿5 are received. Termination benefits are recognised immedi81ely as an expense when the charfly Is demonstrably commilled lo terminate tho employment of an employ88 01 lo piovlde lermination benefjls. Critical accounting estlmates and judgements In the application of the charily's accounting policies, the trustees are required lo rllake judgements. eslimales and assumplblls about the carrying amount of assets and liabilities that are not readily apparent Irom other source8. The oslifftales and associated assumptions are based on historical expoTiOnce and other faclors that are considered lo be relevant. Actual results may dlffer fiom these estimates. The estimates and und6rlying assumptions are reviewed on an ongoing basis. Revislon8 lo aceountlng estimate8 are re¢ognlsed in the period in which th8 85timate is revised where the revision affects only that period, or in the period ol Ihe rEVlSion and future periods where the revision affects both current and future periods. ic) r v C O ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 Income from charitable activiti¢8 Unwstrfeted Restrlcted funds funds 2024 2024 Total Unr@stricted R8Strictèd funds funds 2023 2023 Total 2D24 2023 Magazine Chaiilable activities 10,75 10.750 7.865 7,865 Other Events Charitable activities 10,299 1.973 12,272 26,598 4.843 31,441 21,049 1.973 23.022 34,463 4,843 39,306 InGome from lrtvestments Unrèstrlcted Un￿trIcted funds funds 2024 2D23 Income from unlislod inv8slm8nts Interest receivable 66,355 567 111.618 413 66.922 112.031 Other Income Unrestricled Unrestrlcted funds funds 2024 2023 Other income Bam Hire CSH Campaign 384 6,485 6,850 12,6 19,450 6.869 ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Exppndlture on charitable activitÉes Magazine Charitable Activites 2024 Total Magazine Charitable Actlvites 2023 Total 2024 2024 2023 2023 Dir8Ct cosls Magazine Other Events Training 5,114 5.114 28,367 9,828 2.450 2,450 27,957 263 28,367 9,828 27,957 263 5,114 38.195 43,3Q9 2.450 28,220 30,S70 Share of support and governance cost5 Isee note 8 Support 2,913 72,572 Governance 9,228 75,485 9,228 2.740 48,443 1 Cl.200 51,183 10,200 8,027 119,995 128,022 5.190 86,863 92,053 Analysis by fund UnresliiGled funds- goneral Unrestrieted funds- designated Restricted funds 8,027 102,078 110,105 5,1 79,284 84,474 1,656 16,281 1,658 16,261 263 7,316 283 7,316 8.027 119,995 128,022 5,1 86,863 92,053 Support costs allocatsd to activities 2024 2023 Basls of allocafion IO% magazine, refflaining lo oth8r IOQ% to other iOL7% lo other Postage Gosls lo magazine, remaining fo other loo% to other Govem8nC8 Staff wsl8 20,933 7,410 9.535 13,476 7.879 3.435 Depreci81ion Premises expenses Other costs 36,762 845 9,228 25,560 1,033 10,2(X) Bank InterEsI Governance costs 84.713 81,383 Analysed between: Magazine Charitable Acliviles 2,913 81,800 2,740 58,643 84,713 61.383 GovernAnee costs of £9,228 include the Independent Examiners fee of £6,10812023.. £5,808) and othpr fees paid lo the Independenl Examiner of £2,61612023'. £4,392). 12- ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Trustees None of the trustees (or any persons conn¢ded wllh them) received any Temuneralion during the year. One truste8 was reimbursed a lolal of £528 for event expense5 (2023- £5251. 40 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Employment costs 2024 2023 Wages and Salaries Social Security costs 16,397 4,536 9,782 3,fj94 20,933 13.476 During the year, no employees 18cèived emoluments over £60,000 {2023.. 01. 11 Taxation The chariiy is exempt from taxation on Ils activities because all It5 Income is applied for charitsblts purposes. 12 Tangible fixed assets Land and Plantand btslldlnll3 ma¢hlnory etc Total Cost Al 1 September 2023 423.917 61.429 485,348 Al 31 August 2024 423.917 61,429 485,346 Depreciation and Impalrment At 1 Seplember 2023 Deprecialion charged in the year 98.020 7,318 61,030 94 159,050 7.410 Al 31 August 2024 105.336 61,124 166.460 Carrying amount At 31 August 2024 318,581 305 318,886 AI 31 ALJgusl 2023 325,897 399 326,296 13 ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 13 Flxed asset investments Unlisted inve8tments Cost or valuation Al 1 September 2023 & 31 August 2024 Carrylng amount AI 31 August 2C124 At 31 August 2023 14 Debtors 2024 2023 Amounts falllng due within one year.. Amounts owed by subsidiary undertakings Other debtors Prepayments and accrued income 46,083 3,186 1,581 14,679 1,617 50.850 16,296 15 Credltors: amounts fallin9 du• wlthln one year 2024 2023 Notes Bank loans Trade creditnrs Amount8 owed to subsldlary undertakings Other creditors Accruals and deferred irtcomè 17 10,000 276 10.193 14.192 2.339 5,809 6,241 16.517 32.533 16 Credltors.. amounts fallin9 due after more than one year 2024 2023 Notes Bank loans 17 18.652 26.443 14 ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2024 17 Loans and overdrafts 2024 2023 Bank loans 26,652 36,636 Payable within one year Poyable afler one year 10,000 16,652 10,193 26.443 18 Restrtcted funds The funds trf the charity i4)clude rè5trfcted fund3 comprtsing the following unexpended balances L¥f donations and grants held on trust for specific purposes.. Incomlng resources Resourcès At 31 August expended 2024 September 2023 Building Fund General Fundraising Training and development 325,898 4,843 17,3161 17731 {8,172) 318,582 6,043 1,973 8,172 330,741 10,145 116,261) 324,S25 Previous year.. At1 Septtrmbèr 2022 Incoming r8sourees Resources At 31 August 8xp8nd8d 2023 Building Fund Genèral Fundraising 333.214 17,3161 325,898 4.843 4.843 333.214 4.843 7,316 330.741 The Buikllng Fund comprlse$ 8fflouals raisod by the charty specifically for the relocation and redevelopment of the county office and general upkoep aftor purchasing the new building. G8￿￿￿1 Fundiaising- certain amounts may be rgised al events held during the year for specific charllles. These amounts ar8 held In the reslricled fund until issued ID the beneficiary ¢harttiE5. The Training and Dovgbpmonl fund are funds Tecelved from the Wilham Trust granted for training for the Young Falmers Club Members. 15- ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 19 Unr&strlct•d funds - d¢slynatèd Thesg aTe unieslricled funds which are material lo the chartI￿S aclivitses. At1 Strptsmber 2023 Incomlng resources Resources expended Transfers At 31 August 2024 Jarnes Lyon fund DC Bower training programm8 Training and development Show improvements 5,216 4,118 2,693 71 111 5,287 4.229 1.037 11,6561 12,035 182 11,6561 10,561 Pmvlous yèar: At1 Sèptémbèr 2022 Incoming rèsourceB RosoLErces 8xpended Transfers At 31 August 2Q23 James Lyon tund DC Bower training programme Trainrng and dovelopmenl Show improvements 5,195 4,100 21 5,216 4,118 2,693 780 {2631 2.196 9,303 (263) 2.19e 12,038 The James Lytsn fund has sèt aside funds for any neeessary expendlture which Telates lo landscaping around the building. The DC Bower Training Programtlle fund has sel asid9 fund3 lor the educational trips for selected Y(NJng FarTher8 Club Members. The Trallllng and Developrnenl fund has sel aside funds lo help towards the cost of short courses for the Young Farmers Club Members. Th8 Show Improvements fund ha8 sel asid8 funds lo help towards show improvements. ESSEX COUNTY FEDERATION OF YOUNG FARMERS CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 20 Analysis of net assèts bètwaen funds Unrestrictsd Unreslrl¢ted funds funds genèral deslgnated 2024 2024 Restricted funds Total 2024 2024 At 31 August 2D24: Tangible assels Investments Current asselsl(liabilltie81 Lor)g lorm liabilities 305 318.581 318.886 212,605 116,6521 10,5S1 6,044 229,210 116,6521 1￿.259 10.561 324,625 531,445 Unrestrl¢ted Unre8trtcted funds funds yen8ral designated 2023 2023 Restricted funds Total 2023 2023 At 31 August 2023.. Tangible assets InvgstTrents Current as8ets/{liabilitiesl Long terFn liabilities 325.897 326,296 193,528 128,4431 12,035 4.844 210,407 126,4431 167,485 12,035 330,741 510,261 21 Related party transactions During the year th8 charity was pariy lo th8 followir)g related party Iransaciions.. At the year end amounts owod frorll the wholly owned subsidiary totalled £46,083 (lo the wholly owned sub5idiary- 2023., £14,1921, Durlng the year the charity colloclod funds on behalf of other local Essex Young Farmers Clubs. At the year @nd the charity was holding £3,440 12023 - £16,145) on behalf of those other local E88ex Young Farmers, Clubs. These amounts are nol induded within the financial statBment5 of the chglily as aTe being h81d as custodian funds. 17