2023-12-31-accounts

Company Registration Number: 08080710 Charity Registration Number: 1186133

Eggleston Agricultural Society Ltd

Accounts

For the Year Ending 31 December 2023

JANE ASCROFT ACCOUNTANCY LIMITED

Chartered Accountants Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP

Eggleston Agricultural Society Ltd

Accounts

Year Ended 31 December 2023

	Page
Trustees' Annual Report (Incorporating the Director's Report)	1
Independent Examiner's Report to the Trustees	3
Statement of Financial Activities (Including Income and Expenditure Account)	4
Statement of Financial Position	5
Notes to the Accounts	6
The Following Pages Do Not Form Part of the Accounts
Detailed Statement of Financial Activities	13

Eggleston Agricultural Society Ltd

Trustees' Annual Report (Incorporating the Director's Report)

Year Ended 31 December 2023

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited accounts of the charity for the year ended 31 December 2023.

Objectives and Activities

The Charity's objects are to promote, advance and improve for the benefit of the public agriculture, horticulture and rural crafts and skills in all their branches by the improvements of livestock and the demonstration and showing of livestock, machinery, crafts, products, methods and processes connected with agriculture and agricultural education in particular by the holding of an annual show.

Public Benefit

Our main activities and who we help are described elsewhere in this report. All our charitable activities are undertaken to further our charitable purposes for the public benefit. The Committee have had regard to the Charity Commission's guidance on public benefit throughout the year when deciding on the activities of the charity.

Achievements and Performance

The 2023 Eggleston Agricultural show went ahead on Saturday 16th September, and it proved to be a successful day, despite wet weather. Due to the unfortunate wet weather, the show had a reduced attendance of members of the public, although it was a good turnout of exhibitors across all classes. The entries on average across classes were higher than in 2022, which was reassuring that the show is still popular with exhibitors.

In 2023, the show undertook a new catering contract, and is reviewing it annually. Hills and Dales catering attended in the judges and steward’s tent, whilst a number of individual local catering units attended on the field, with units ranging from pizzas to a crepe stand. The independent units donated 15% of takings to the show, which will be replicated in 2024.

The Grand Parade was reinstated, where champions from all sections were asked to take part in the main ring, where the Dales Pony was crowned overall champion. Alongside this, the show also had new attractions such as a sheep dog demonstration, which proved popular with the public and a ‘Sheep Grand National’.

Unfortunately, due to Avian Influenza there was no poultry at the show in 2023, however we are hopeful for their return in 2024.

Financial Review

The Trustees aim to maintain sufficient "free" reserves to meet the general running costs of the charity for one year. At 31st December 2023 this was estimated at approximately £30,000. Actual "free" reserves at 31st December 2023 were £54,975.

Structure, Governance and Management

Eggleston Agricultural Society is governed by Memorandum and Articles incorporated 25th July 2014 as amended by a special resolution registered at Companies House on 6th September 2019.

1

Eggleston Agricultural Society Ltd

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year Ended 31 December 2023

Reference and Administrative Details

Registered charity name	Eggleston Agricultural Society Ltd
Charity registration number	1186133
Company registration number	08080710
Principal office and registered	9-11 Chapel Row
office	Middleton In Teesdale
	Barnard Castle
	DL12 0SN
The Trustees
	A Gent
	R Oxby
	T Tarn
	G Wilkinson
	G Wilson
	K Robinson
Company Secretary	A Teward
Independent Examiner	Jane Ascroft FCA MA (Cantab)
	Enterprise House
	Harmire Enterprise Park
	Barnard Castle
	County Durham
	DL12 8XP

Small Company Provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:

A Teward

Charity Secretary

2

Eggleston Agricultural Society Ltd

Independent Examiner's Report to the Trustees of Eggleston Agricultural Society Ltd

Year Ended 31 December 2023

I report to the trustees on my examination of the accounts of Eggleston Agricultural Society Ltd ('the charity') for the year ended 31 December 2023.

Responsibilities and Basis of Report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company 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 as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I 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.

Jane Ascroft FCA MA (Cantab) Independent Examiner

Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP

3

Eggleston Agricultural Society Ltd

Statement of Financial Activities (including income and expenditure account)

Year Ended 31 December 2023

		2023		2022
		Unrestricted
		fundsTotal funds		Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	5	2,517	2,517	5,429
Charitable activities	6	24,881	24,881	31,463
		────────	────────	────────
Total income		27,398	27,398	36,892
		════════	════════	════════
Expenditure
Expenditure on charitable activities	7,8	31,374	31,374	30,985
		────────	────────	────────
Total expenditure		31,374	31,374	30,985
		════════	════════	════════
		────────	────────	────────
Net (expenditure)/income and net movement in funds		(3,976)	(3,976)	5,907
		════════	════════	════════
Reconciliation of funds
Total funds brought forward		58,951	58,951	53,044
		────────	────────	────────
Total funds carried forward		54,975	54,975	58,951
		════════	════════	════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 6 to 11 form part of these accounts.

4

Eggleston Agricultural Society Ltd

Statement of Financial Position

31 December 2023

		2023	2022
	Note	£	£
Current Assets
Debtors	12	421	62
Cash at bank and in hand		56,077	59,129
		────────	────────
		56,498	59,191
Creditors: amounts falling due within one year	13	1,523	240
		────────	────────
Net Current Assets		54,975	58,951
		────────	────────
Total Assets Less Current Liabilities		54,975	58,951
		────────	────────
Net Assets		54,975	58,951
		════════	════════
Funds of the Charity
Unrestricted funds		54,975	58,951
		────────	────────
Total charity funds	14	54,975 ════════	58,951 ════════

For the year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These accounts were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:

K Robinson Trustee

The notes on pages 6 to 11 form part of these accounts.

5

Eggleston Agricultural Society Ltd

Notes to the Accounts

Year Ended 31 December 2023

1. General Information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 9-11 Chapel Row, Middleton In Teesdale, Barnard Castle, DL12 0SN.

2. Statement of Compliance

These accounts have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting Policies

Basis of Preparation

The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The accounts are prepared in sterling, which is the functional currency of the entity.

Going Concern

There are no material uncertainties about the charity's ability to continue.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The trustees consider that there are no significant estimates or judgements affecting these financial statements.

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

6

Eggleston Agricultural Society Ltd

Notes to the Accounts (continued)

Year Ended 31 December 2023

3. Accounting Policies (continued)

Income

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial Instruments

The charity only has financial assets and 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.

7

Eggleston Agricultural Society Ltd

Notes to the Accounts (continued)

Year Ended 31 December 2023

Debtors

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

Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

Cash at Bank and in Hand

Cash at bank and cash 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.

Creditors

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

Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

4. Limited by Guarantee

The company is limited by guarantee. At 31st December 2023 there were 6 members each of whom had undertaken to contribute an amount not exceeding £10 in the event of a winding up.

5. Donations and Legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Donations
Subscriptions and donations	2,517	–	2,517
Grants
Grant from Durham County Council	–	–	–
	───────	────	───────
	2,517	–	2,517
	═══════	════	═══════

8

Eggleston Agricultural Society Ltd

Notes to the Accounts (continued)

Year Ended 31 December 2023

5. Donations and Legacies (continued)

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Donations
Subscriptions and donations	2,405	–	2,405
Grants
Grant from Durham County Council	–	3,024	3,024
	───────	───────	───────
	2,405	3,024	5,429
	═══════	═══════	═══════

6. Charitable Activities

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Gate entrance takings	12,366	12,366	21,081	21,081
	Entry fees	4,691	4,691	4,616	4,616
	Trade stands	6,391	6,391	5,766	5,766
	Catering income	1,182	1,182	–	–
	Sheep race	251	251	–	–
		────────	────────	────────	────────
		24,881	24,881	31,463	31,463
		════════	════════	════════	════════
7.	Expenditure on Charitable Activities by Fund Type

		Unrestricted	Restricted	Total Funds
		Funds	Funds	2023
		£	£	£
	Charitable expenditure (see page 13 for details)	31,374	–	31,374
		════════	════	════════
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2022
		£	£	£
	Charitable expenditure (see page 13 for details)	27,865	3,120	30,985
		════════	═══════	════════
8.	Expenditure on Charitable Activities by Activity	Type
		Activities
		undertaken	Total funds	Total fund
		directly	2023	2022
		£	£	£
	Charitable expenditure (see page 13 for details)	31,374	31,374	30,985
		════════	════════	════════

9

Eggleston Agricultural Society Ltd

Notes to the Accounts (continued)

Year Ended 31 December 2023

9. Independent Examination Fees

	2023	2022
	£	£
Fees payable to the independent examiner for:
Independent examination of the accounts	252 ════	240 ════

10. Staff Costs

The average head count of employees during the year was Nil (2022: Nil).

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

11. Trustee Remuneration and Expenses

During the current and previous year trustees received neither remuneration nor expenses from the charity.

12. Debtors

		2023	2022
		£	£
	Trade debtors	421	62
		════	════
13.	Creditors: amounts falling due within one year
		2023	2022
		£	£
	Accruals and deferred income	1,523	240
		═══════	════

14. Analysis of Charitable Funds

Unrestricted funds

							At
	At	1	January			31	December
			2023	Income	Expenditure	Transfers	2023
			£	£	£	£	£
General funds			58,951	27,398	(31,374)	–	54,975
			════════	════════	════════	════	════════
							At
	At	1	January			31	December
			2022	Income	Expenditure	Transfers	2022
			£	£	£	£	£
General funds			53,044	33,868	(27,865)	(96)	58,951
			════════	════════	════════	════	════════

10

Eggleston Agricultural Society Ltd

Notes to the Accounts (continued)

Year Ended 31 December 2023

15. Analysis of Net Assets Between Funds

	Unrestricted	Total Funds
	Funds	2023
	£	£
Current assets	56,498	56,498
Creditors less than 1 year	(1,523)	(1,523)
	────────	────────
Net assets	54,975	54,975
	════════	════════
	Unrestricted	Total Funds
	Funds	2022
	£	£
Current assets	59,191	59,191
Creditors less than 1 year	(240)	(240)
	────────	────────
Net assets	58,951	58,951
	════════	════════

11

Eggleston Agricultural Society Ltd

Management Information

Year Ended 31 December 2023

The Following Pages Do Not Form Part of the Accounts.

12

Eggleston Agricultural Society Ltd

Detailed Statement of Financial Activities

Year Ended 31 December 2023

	2023	2022
	£	£
Income and endowments
Donations and legacies
Subscriptions and donations	2,517	2,405
Grant from Durham County Council	–	3,024
	───────	───────
	2,517	5,429
	───────	───────
Charitable activities
Gate entrance takings	12,366	21,081
Entry fees	4,691	4,616
Trade stands	6,391	5,766
Catering income	1,182	–
Sheep race	251	–
	────────	────────
	24,881	31,463
	────────	────────
	────────	────────
Total income	27,398	36,892
	════════	════════
Expenditure
Insurance	434	413
Catering costs	2,400	–
Legal and professional fees	264	240
Secretary expenses	2,425	2,020
Advertising, printing & stationery	7,264	6,625
Prize money	5,615	5,931
Equipment rental	8,152	7,994
Expensed equipment	–	3,120
Other costs	4,820	4,642
	────────	────────
Total expenditure	31,374	30,985
	════════	════════
	────────	────────
Net (expenditure)/income	(3,976)	5,907
	════════	════════

13