2020-12-31-accounts - Royal Agricultural Society Of England

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						Page
Reference	and administrative		details ofthe Charity,	its Trustees	and advisers
Chairman's	statement
Trustees'	report					3-7
Independent auditors'		report	on the financial statements			8-11
Statement	of financial	activities				12
Balance sheet
Statement	of cash flows					14
Notes to the financial		statements				15-35

Patron			Her Most Gracious Majesty The	Her Most Gracious Majesty The	Her Most Gracious Majesty The	Her Most Gracious Majesty The	Queen	Queen
President			Mr Jim Godfrey
Honorary	Trustees		H.R.H. The Prince Philip,		Duke		of Edinburgh,		KG, KT, OM, GBE(deceased 9April
			2021)
			H.R.H. The Prince of	Wales,		KG, KT, GCB, OM, AK, QSO, CC, PC, AOC
			H.R.H. The Duke of Gloucester,					KG, GCVO,	GCStJ, FRIBA
			H.R.H. The Countess	of	Wessex, GCVO, DStJ, CD
			R.F.H. Cowen, CBE
			The Lord Plumb of Coleshill,			DL,		FRAgS
Trustees			Philip Gready, Chair (appointed				1 January 2021)
			Chris Tufnell, Chair (resigned			31		December 2020)
			Alastair Morrison
			Joanna Price
			Nick Tapp FRAgS
			Michael Fiddes
			Gareth Davies (resigned		31	December 2020)
			Julia Butler
Company	and Charity
registered		numbers	RC000442 8 209961
Principal	office		Stoneleigh Park
			Kenilworth
			Warwickshire
			CV8 2LZ
Independent		auditors	Dains LLP
			15Colmore Row
			Birmingham
			B32BH
Bankers			Coutts 8 Co
			440 Strand
			London
			WC2R OQS
Solicitors	(charity,		Wright Hassall LLP
governance,			Olympus Avenue
commercial)			Leamington Spa
			Warwickshire
			CV34 6BF

				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	funds	funds	funds
				2020	2020	2020	2020	2019
			Note	OOOO	OOOO	OOOO	FOOO	EOOO
Income and
endowments		from:
Donations and		legacies	4	48			48	10
Charitable activities			5	19			19	24
Other trading	activities		6	222			222	74
Investments			7				3	1
Other income			8	331			331
Total income		and
endowments				620			623	109
Expenditure	on:
Raising funds				293			293	286
Charitable activities			9	79			79	71
Total expenditure				372			372	357
Net income I
(expenditure)		before
net gains on
investments				248			251	(248)
Net gains on
investments			16					4,416
Net movement funds		in		248			257	4,168
Reconciliation		of
funds:
Total funds brought
forward				5,850	38	104	5,992	1,824
Net movement		in funds		248	3	6	257	4,168
Total funds carried forward				6,098	41	110	6,249	5,992

					2020		2019
			Note		OOOO		f000
Fixed assets
Tangible assets			14		1		1
Investments			16		137		128
Investment property			15		4,500		5,275
					4,638		5,404
Current assets
Debtors: amounts	falling due after more than
one year			17	625		641
Debtors: amounts	falling due within one year		17	384		90
Cash at bank and	in hand			1,193		98
				2,202		829
Creditors: amounts	falling	due within one
year			18	(550)		(224)
Net current assets					1,652		605
Total assets less	current	liabilities			6,290		6,009
Creditors: amounts	falling	due after more
than one year			19		(41)		(17)
Total net assets					6,249		5,992
Charity funds
Endowment funds			20		110		104
Restricted funds			20		41		38
Unrestricted funds			20		6,098		5,850
Total funds					6,249		5,992

					2020	2019
				Note	FOOO	OOOO
Cash flows from operating activities
Net cash	used in operating activities			23	(41)	(225)
Cash flows from investing activities
Dividends,	interests and rents from investments
Purchase	of tangible fixed assets
Proceeds	from sale of investments				1,106
Net cash	provided by investing activities				1,109
Cash flows from financing activities
Cash inflaws from new borrowing					27
Net cash	provided by financing activities				27
Change in cash and cash equivalents		in	the year		1,095	(225)
Cash and	cash equivalents at the beginning		of the year		98	323
Cash and	cash equivalents at the end	of	the year	24	1,193	98

				Unrestricted	Total
				funds	funds
				2020	2020
				OOOO	OOOO
	Donations			48	48
				Unrestricted	Total
				funds	funds
				2019	2019
				OOOO	OOOO
	Donations			10	10
5.	Income from	charitable	activities
				Unrestricted	Total
				funds	funds
				2020	2020
				f000	OOOO
	Membership	subscriptions		19	19
				Unrestricted	Total
				funds	funds
				2019	2019
				FOOO	OOOO
	Membership	subscriptions		24	24

				Unrestricted	Total
				funds	funds
				2020	2020
				f.000	EOOO
	Property			40	40
	Other			182	182
				222	222
				Unrestricted	Total
				funds	funds
				2019	2019
				f000	OOOO
	Property			49	49
	Other			25	25
				74	74
7.	Investment		income
				Restricted	Total
				funds	funds
				2020	2020
				OOOO	OOOO
	Dividend	income
				Restricted	Total
				funds	funds
				2019	2019
				OOOO	OOOO
	Dividend	income

								Unrestricted	Total	Total
								funds	funds	funds
								2020	2020	2019
								OOOO	OOOO	OOOO
Surplus	on	disposal	of	investment	property	and	land	331	331

Unrestricted	Total
funds	funds
2020	2020
EOOO	OOOO
79	79


Membership		services	79	79
			Unrestricted	Total
			funds	funds
			2019	2019
			EOOO	OOOO
Membership		services	65	65
Awards	programme		6	6
			71	71

			Activities
			undertaken	Support	Total
			directly	costs	funds
			2020	2020	2020
			OOOO	f000	OOOO
Membership		services		78	79
			Activities
			undertaken	Support	Total
			directly	costs	funds
			2019	2019	2019
			f000	FOOO	OOOO
Membership		services		56	65
Awards	programme				6
			15	56	71
Analysis	of	direct costs
			Membership	Awards	Total
			services	programme	funds
			2020	2020	2020
			FOOO	OOOO	f000
Direct costs
			Membership	Awards	Total
			services	programme	funds
			2019	2019	2019
			EOOO	f000	EOOO
Direct costs					15

		Membership	Total
		services	funds
		2020	2020
		FOOO	OOOO
Staff costs		72	72
Auditor's	remuneration	5	5
General	expenses	1	1
		78	78
		Membership	Total
		services	funds
		2019	2019
		OOOO	EOOO
Staff costs		49	49
Auditor's	remuneration	5	5
General	expenses	2	2
		56	56

Staff costs
	2020	2019
	FOOO	EOOO
Wages and salaries	72	49
Social security costs	5	2
Pension costs	3	3
	80	54

The	average	number	persons	the Charity	during	the year was as follows:
						2020	2019
						No.	No.
Staff
The	average	headcount	expressed as full-time	equivalents	was:
						2020	2019
						No.	No.
Staff						1.2	1.3

				2020	2019
				EOOO	EOOO
Depreciation		of tangible	fixed assets
Auditor's	remuneration		- audit

			Computer
			equipment
			OOOO
	Cost
	At 1 January	2020	21
	Disposals		(20)
	At 31 December 2020
	At 1 January	2020	20
	On disposals		(20)
	At 31 December 2020
	Net book value
	At 31 December 2020
	At 31 December 2019
15.	Investment	property
			Freehold
			investment
			property
			f000
	Valuation
	At 1 January	2020	5,275
	Disposals		(775)
	At 31 December 2020		4,500

	Listed
	investments
	OOOO
Market valuation
At 1 January 2020	128
Income yield	3
Revaluations	6
At 31 December 2020	137

		2020	2019
		f000	FOOO
Due after more than one year
Prepayments	and accrued income	625	641
		2020	2019
		'EOOO	EOOO
Due within one year
Trade debtors		317	34
Other debtors		16	16
Prepayments	and accrued income	51	40
		384	90

					2020	2019
					f000	OOOO
Bank loans					1
Trade creditors					109	70
Other taxation		and	social security		130	7
Other creditors					116	118
Accruals	and deferred income				194	29
					550	224
					2020	2019
					OOOO	f000
Deferred	income at 1 January				17	21
Resources deferred			during the year		149	17
Amounts	released		from previous	periods	(17)	(21)
Deferred	income at 31 December				149	17

			2020	2019
			f000	OOOO
Bank loans			26
Accruals	and deferred	income	15	17
			41	17

							Balance at
			Balance at 1				31
			January			Gains/	December
			2020	Income	Expenditure	(Losses)	2020
			FOOO	FOOO	FOOO	FOOO	EOOO
Unrestricted funds
General Funds			5,850	620	(372)		6,098
Endowment funds
RASE Landowner	gold	medal	32				34
Farm & Rural building		centre	72				76
			104				110
Restricted funds
RASE Landowner	gold	medal	13				14
Farm 8 Rural building		centre	25				27
			38				41
Total offunds			5,992	623	(372)		6,249

Stateme	nt offun	ds -	prior yea	r
								Balance at
				Balance at				31
				1 January			Gains/	December
				2019	Income	Expenditure	(Losses)	2019
				OOOO	FOOO	FOOO	FOOO	FOOO
Unrestricted funds
General	Funds			1,699	108	(357)	4,400	5,850
Endowment funds
RASE Landowner		gold	medal	28			4	32
Farm &	Rural building		centre	60			12	72
				88			16	104
Restricted funds
RASE landmower		gold	medal	12				13
Farm &	Rural building		centre	25				25
Total of	funds			1,824	109	(357)	4,416	5,992

							Balance at
			Balance at 1				31
			January			Gains/	December
			2020	Income	Expenditure	(Losses)	2020
			FOOO	FOOO	f000	FOOO	FOOO
General	funds		5,850	620	(372)		6,098
Endowment		funds	104				110
Restricted		funds	38				41
			5,992	623	(372)		6,249

							Balance at
			Balance at				31
			1 January			Gains/	December
			2019	Income	Expenditure	(Losses)	2019
			OOOO	FOOO	FOOO	FOOO	FOOO
General	funds		1,699	108	(357)	4,400	5,850
Endowment		funds	88			16	104
Restricted		funds	37				38
			1,824	109	(357)	4,416	5,992

Analysis	of n	et assets between funds -	current period
			Unrestricted	Restricted	Endowment	Total
			funds	funds	funds	funds
			2020	2020	2020	2020
			FOOO	FOOO	FOOO	FOOO
Tangible	fixed	assets				I
Fixed asset investments				27	110	137
Investment property			4,500			4,500
Debtors	due after more than one year		625			625
Current	assets		1,563	14		1,577
Creditors	due	within one year	(550)			(550)
Creditors	due	in more than one year	(41)			(41)
Total			6,098	41	110	6,249

				Unrestricted	Restricted	Endowment	Total
				funds	funds	funds	funds
				2019	2019	2019	2019
				f000	'EOOO	OOOO	f000
Tangible	fixed		assets				1
Fixed asset investments					24	104	128
Investment		property		5,275			5,275
Debtors	due after more than one year			641			641
Current	assets			175	14		189
Creditors		due	within one year	(225)			(225)
Creditors		due	in more than one year	(17)			(17)
Total				5,850	38	104	5,992

23.	Reconciliation of net movement	Reconciliation of net movement	in funds	to net cash flow from operating	activities
					2020	2019
					OOOO	f000
	Net income for the period (as per Statement			of Financial Activities)	257	4,168
	Adjustments for:
	Depreciation charges					1
	Gains on investments				(5)	(4,416)
	Dividends, interests	and rents from investments			(3)	(1)
	Surplus on disposal	of investment	property	and land	(331)
	(Increase)/decrease	in debtors			(278)	25
	Increase/(decrease)	in creditors			320	(2)
	Net cash used in operating activities				(41)	(225)
24.	Analysis ofcash and cash equivalents
					2020	2019
					OOOO	FOOO
	Cash in hand				1,193	98
	Total cash and cash equivalents				1,193	98

Principal actuaria	l assumptions at the balance sheet da	te (expressed as weighted averages):
		At 31	At 31
		December	December
		2020	2019
		0/	0/
Discount rate at	31 December	1.40	2.00
Rate of increase	in price (RPI)	2.90	2.90
Rate of increase	in price (CPI)	2.05	2.00
Rate of statutory	revaluation	2.05	2.00

The Cha	rity's share of t	he assets in the scheme was:
			At 31	At 31
			December	December
			2020	2019
			EOOO	OOOO
Present	value offunded	obligations	(15,185)	(14,390)
Fair value of scheme assets			15,255	14,666
Surplus	not recognised		(70)	(276)

Moveme		nts	in th	e present value of th	e defin	ed benefit obligation were as follows:
							2020
							f000
Opening		defined		benefit obligation			14,390
Interest		cost					283
Actuarial		losses		(gains)			1,039
Benefits		paid					(527)
Closing		defined		benefit obligation			15,185
Movements			in the fair value of the Charity's			share of scheme assets were as follows:
							2020
							EOOO
Opening		fair	value of scheme assets				14,666
Return	on Scheme assets excluding				interest	income	833
Interest		income					283
Benefits		paid					(527)
Closing		fair	value ofscheme assets				15,255