| Page | |||
|---|---|---|---|
| Reference and Administrative | Details ofthe Society, its Trustees and Advisers | ||
| Chairman's | Statement | 2-3 | |
| Trustees' Report |
4-12 | ||
| Independent | Auditors' Report |
on the Financial Statements | 13-16 |
| Consolidated | Statement of Financial Activities | 17 - 18 | |
| Consolidated | Balance Sheet | 19 | |
| Society Balance Sheet | 20-21 | ||
| Consolidated | Statement ofCash Flows | 22 | |
| Notes to the | Financial Statements | 23-39 |
| REFERENCE AND | REFERENCE AND | REFERENCE AND | ADMINISTRATIVE | DETAILS | DETAILS | OF THE SOCIETY, ITSTRUSTEES AND ADVISERS |
|---|---|---|---|---|---|---|
| FOR THE YEAR | ENDED 31 DECEMBER 2021 | |||||
| Trustees | Mr C.P.B.Burgoyne, | Chairman | ||||
| DrS.L. Greener | ||||||
| Mr T.H. Gribble | ||||||
| Mr M.R. Martin | ||||||
| Mrs M. Thomas-Atkin | ||||||
| Ms J.McElhinney | ||||||
| Mr R. Stevenson | ||||||
| Mr J.J.Allen | ||||||
| Mr A. Smith | ||||||
| Mr I.J.Massow | (appointed | 12 October 2021) | ||||
| Company | registered | |||||
| number | 00527571 | |||||
| Charity registered | ||||||
| number | 227033 | |||||
| Registered | office | Selsfield Road | ||||
| Ardingly | ||||||
| West Sussex | ||||||
| RH17 6TL | ||||||
| Company | secretary | Mr M.R. Martin | ||||
| Independent | auditors | Knill James LLP | ||||
| Chartered Accountants |
||||||
| Statutory Auditor |
||||||
| One Bell Lane | ||||||
| Lewes | ||||||
| East Sussex | ||||||
| BN7 1JU | ||||||
| Investment | adviser | Canaccord | ||||
| 8th Floor | ||||||
| 88 Wood Street | ||||||
| London | ||||||
| EC2V 7QR |
| Endowment | Restricted | Unrestricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | |||||
| Note | 2021 E |
2021 f |
2021 | 2021 | 2020 | ||||
| Income and | |||||||||
| endowments | from: | ||||||||
| Donations and legacies |
19,741 | 19,741 | 16,041 | ||||||
| Charitable activities |
1,113,854 | 1,113,854 | 227,122 | ||||||
| Other trading | activities | 641,490 | 641,490 | 409,771 | |||||
| Investments | 8,389 | 8,389 | 8,229 | ||||||
| Other income | 132,802 | 132,802 | 183,458 | ||||||
| Total income | and | ||||||||
| endowments | 1,916,276 | 1,916,276 | 844,621 | ||||||
| Expenditure | on: | ||||||||
| Raising funds | 79,851 | 79,851 | 23,133 | ||||||
| Charitable activities |
1,440,101 | 1,440,101 | 957,696 | ||||||
| Total expenditure | 1,519,952 | 1,519,952 | 980,829 | ||||||
| Net | |||||||||
| income/(expenditure) | |||||||||
| before net | |||||||||
| gains/(losses) | on | ||||||||
| investments | 396,324 | 396,324 | (136,208) | ||||||
| Net gains/(losses) | on | ||||||||
| investments | 1,268 | 1,268 | (10,153) | ||||||
| Net | |||||||||
| income/(expenditure) | 397,592 | 397,592 | (146,361) | ||||||
| Net movement | in | ||||||||
| funds before | other | ||||||||
| recognised gains |
397,592 | 397,592 | (146,361) | ||||||
| Other recognised | |||||||||
| gains: | |||||||||
| Gains on revaluation | of | ||||||||
| fixed assets | 9,076 | 66,665 | 75,741 | 31,188 | |||||
| Net movement | in | ||||||||
| funds | 9,076 | 464,257 | 473,333 | (115,173) |
| Endowment | Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | |||
| Note | 2021f | 2021 | 2021f | 2021f | 2020 | ||
| Reconciliation | of | ||||||
| funds: | |||||||
| Total funds brought | |||||||
| forward | 193,937 | 104,600 | 1,904,638 | 2,203,175 | 2,318,348 | ||
| Net movement | in funds | 9,076 | 464,257 | 473,333 | (115,173) | ||
| Total funds carried | |||||||
| forward | 193,937 | 113,676 | 2,368,895 | 2,676,508 | 2,203,175 |
| CONSOLIDATED BALANCE | CONSOLIDATED BALANCE | SHEET | ||||
|---|---|---|---|---|---|---|
| AS AT 31 DECEMBER 2021 | ||||||
| Note | 2021 E |
2020 | ||||
| Fixed assets | ||||||
| Tangible assets investments |
12 13 |
1,795,326 828,878 |
1.825,004 618,368 |
|||
| Current assets | 2,624,203 | 2,443,372 | ||||
| Stocks Debtors Cash at bank and |
in hand | 14 15 |
2,908 1'I0,589 206,117 |
7,831 84,941 3,121 |
||
| 319,614 | 95,893 | |||||
| Creditors: amounts | falling due within | one | ||||
| year | 16 | (267,309) | (336,090) | |||
| Net current assets Iliabiiites | 52,305 | (240,197) | ||||
| Total assets less | current liabilities | 2,676,508 | 2,203,175 | |||
| Total net assets | 2,676,508 | 2,203,175 | ||||
| Charity funds | ||||||
| Endowment funds Restricted funds Unrestricted funds |
17 17 17 |
193,937 113,676 2,368,895 |
193,93? 104,600 1,904,638 |
|||
| Total funds | 2,676,508 | 2,203,175 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| E | |||||||
| Cash flows from operating | activities | ||||||
| Net cash | used in operating |
activities | 433,592 | (131,091) | |||
| Cash flows from investing | activities | ||||||
| Dividends, | interests and rents from investments |
8,389 | 8,229 | ||||
| Proceeds | from the sale oftangible fixed |
assets | 1,800 | ||||
| Purchase | oftangible fixed assets |
(69,512) | (122,636) | ||||
| Proceeds | from sale of investments | 2?,693 | 177,488 | ||||
| Purchase | of investments | (161,194) | (110,697) | ||||
| Net cash | used in investing |
activities | (194,624) | (45,816) | |||
| Cash flows from financing | activities | ||||||
| Net cash | provided by financing activities |
||||||
| Change | in cash and cash | equivalents | in | the year | 238,968 | (1?6,90?) | |
| Cash and | cash equivalents | at the beginning | ofthe year | (32,851) | 144,056 | ||
| Cash and | cash equivalents | at the end | of | the year | 206,117 | (32,851) | |
| The notes | on pages 23 to 39form part ofthese financial statements |
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2021 | 2021 | 2020 | |||
| E | |||||
| Membership | subscriptions | 91,848 | 91,848 | 82,878 | |
| Income from | South of England | Event Centre | 549,642 | 549,642 | 326,893 |
| 641,490 | 641,490 | 409,771 | |||
| Total 2020 | 409,771 | 409,771 |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2020 | |
| Income from listed investments | 8,389 | 8,389 | 8,229 |
| Total 2020 | 8,229 | 8,229 |
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2021 | 2021 | 2020 | |||
| E | |||||
| Investment | management | fees | 3,713 | 3,713 | 2,940 |
| Total 2020 | 2,940 | 2,940 |
| Activities | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| undertaken | Support | Total | Total | ||||||
| directly | costs | funds | funds | ||||||
| 2021 | 2021 | 2021 | 2020 | ||||||
| E | E | E | |||||||
| Promotion | of | agriculture | and horticulture | 548,915 | 876,135 | 1,425,050 | 958,538 | ||
| Advancement | of education | in agriculture | and | ||||||
| horticulture | 15,051 | 15,051 | (842) | ||||||
| 563,966 | 876,135 | 1,440,101 | 957,696 | ||||||
| Total 2020 | 172,105 | 785,591 | 957,696 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Fees payable | to the Society's auditor | for | the audit ofthe Society's annual | ||||
| accounts | 12,152 | 11,398 | |||||
| Fees payable | to the Society's auditor | in respect of: | |||||
| All taxation | advisory services not | included | above | 765 | 1,000 | ||
| All non-audit | services not included | above | (payroll) | 1,416 | 1,100 |
| Group | Group | Society | Society | ||||
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | ||||
| Wages and | salaries | 395,439 | 401,494 | 395,439 | 401,494 | ||
| Social security costs | 35,937 | 33,149 | 35,937 | 33,149 | |||
| Contribution | to defined | contribution | pension | ||||
| schemes | 20,021 | 20,830 | 20,021 | 20,830 | |||
| 451,397 | 455,473 | 451,397 | 455,473 |
| Freehold | Plant and | Fixtures and | |||
|---|---|---|---|---|---|
| property | machinery | fittings | Trophies | Total | |
| Cost or valuation | |||||
| At 1 January 2021 | 3,388,494 | 254,760 | 495,907 | 150,000 | 4,289,161 |
| Additions | 48,252 | 21,260 | 69,512 | ||
| Disposals | (264,223) | (264,223) | |||
| At 31 December 2021 | 3,124,271 | 303,012 | 517,167 | 150,000 | 4,094,450 |
| Depreciation | |||||
| At 1 January 2021 | 1,766,491 | 243,724 | 453,942 | 2,464,157 | |
| Charge for the year | 61,113 | 13,687 | 24,391 | 99,'191 | |
| On disposals | (264,223) | (264,223) | |||
| At 31 December 2021 | 1,563,381 | 257,411 | 478,333 | 2,299,125 | |
| Net book value | |||||
| At 31 December 2021 | 1,560,890 | 45,601 | 38,834 | 150,000 | 1,795,325 |
| At 31December 2020 | 1,622,003 | 11,036 | 41,965 | 150,000 | 1,825,004 |
| Group | Group | Society | Society | |
|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | |
| F | ||||
| Trophies | 55,594 | 55,594 | 55,594 | 55,594 |
| 13. | Fixed asset investments | |
|---|---|---|
| Listed | ||
| investments | ||
| Group | ||
| Cost or valuation | ||
| At 1 January 2021 | 618,368 | |
| Additions | 59,352 | |
| Disposals | (26,426) | |
| Revaluations | 75,742 | |
| Cash movements | 101,842 | |
| At 31 December 2021 | 828,878 | |
| Net book value | ||
| At 31 December 2021 | 828,878 | |
| At 31December 2020 | 618,368 |
| Investments | Investments | |||
|---|---|---|---|---|
| in | ||||
| subsidiary | Listed | |||
| Society | companies | f | investments Z |
Total |
| Cost or valuation | ||||
| At 1 January 2021 | 618,368 | 618,370 | ||
| Additions | 59,352 | 59,352 | ||
| Disposals | (26,426) | (26,426) | ||
| Revaluations | 75,742 | 75,742 | ||
| Cash movements | 101,&42 | 101,842 | ||
| At 31 December 2021 | 2 | 828,878 | 828,880 | |
| Net book value | ||||
| At 31 December 2021 | 2 | 828,878 | 828,880 | |
| At 31December 2020 | 2 | 618,368 | 618,370 |
| Group | Group | Society | Society | ||
|---|---|---|---|---|---|
| 2021 | 2020 | 2021f | 2020 E |
||
| Due within one year | |||||
| Trade debtors | 33,409 | 52,520 | 49,161 | 49,531 | |
| Other debtors | 644 | 644 | 644 | 644 | |
| Prepayments | and accrued income | 76,536 | 31,777 | 70,497 | 31,689 |
| 110,589 | 84,941 | 120,302 | 81,864 |
| Group | Group | Society | Society | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | |||||||
| E | F | |||||||||
| Bank overdrafts | 35,972 | 35,972 | ||||||||
| Trade creditors | 105,240 | 72,396 | 107,861 | 72,348 | ||||||
| Amounts | owed | to group undertakings | 51,080 | 12,451 | ||||||
| Other taxation | and | social | security | 31,228 | 20,267 | 22,905 | 32,758 | |||
| Other creditors | 2,727 | 2,842 | 2,727 | 2,842 | ||||||
| Accruals | and deferred income |
128,114 | 204,6/3 | 84,164 | 181,232 | |||||
| 267,309 | 336,090 | 268,737 | 337,603 | |||||||
| Group | Group | Society | Society | |||||||
| 2021 | 2020 | 2021 | 2020 | |||||||
| f. | ||||||||||
| Deferred | income at | 1 January 2021 | 180,019 | 235,380 | 156,639 | 213,845 | ||||
| Resources deferred | during | the year | 116,985 | 180,019 | 73,036 | 156,639 | ||||
| Amounts | released | from previous | periods | (180,019) | (235,380) | (156,639) | (213,845) | |||
| 116,985 | 180,019 | 73,036 | 156,639 |
| Analysis | of net assets between fund |
s -current year |
|||
|---|---|---|---|---|---|
| Endowment | Restricted | Unrestricted | Total | ||
| funds | funds | funds | funds | ||
| 2021 | 2021 f |
2021 | 2021 | ||
| Tangible | fixed assets | 193,937 | 1,601,388 | 1,795,325 | |
| Fixed asset investments | 113,676 | 715,202 | 828,878 | ||
| Current | assets | 319,615 | 319,615 | ||
| Creditors | due within one year | (267,310) | (267,310) | ||
| Total | 193,937 | 113,676 | 2,368,895 | 2,676,508 |
| Analysis | of net assets between fund |
s - prior year |
|||
|---|---|---|---|---|---|
| Endowment | Restricted | Unrestricted | Total | ||
| funds | funds | funds | funds | ||
| 2020 | 2020 | 2020 | 2020 | ||
| Tangible | fixed assets | 193,937 | 1,631,067 | 1,825,004 | |
| Fixed asset investments | 104,228 | 514,140 | 618,368 | ||
| Current | assets | 372 | 95,521 | 95,893 | |
| Creditors | due within one year | (336,091) | (336,091) | ||
| Total | 193,937 | 104,600 | 1,904,637 | 2,203,174 |
| Group | Group | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||||
| Net income/expenditure for |
the | year | (as | per | Statement | of Financial | ||||
| Activities) | 397,592 | (146,361) | ||||||||
| Adjustments for: |
||||||||||
| Depreciation charges |
99,191 | 87,971 | ||||||||
| (Gains)/losses on investments |
(1,268) | 10,153 | ||||||||
| Dividends, interests |
and rents | from | investments | (8,389) | (8,229) | |||||
| Loss on the sale of | fixed assets | 1,731 | ||||||||
| Decrease/(increase) | in stocks | 4,923 | (4,923) | |||||||
| Decrease/(increase) | in debtors | (25,648) | 155,464 | |||||||
| (Decrease)/increase | in creditors | (32,809) | (226,897) | |||||||
| Net cash provided | by/(used | in) operating | activities | 433,592 | (131,091) |
| Group | Group | ||||
|---|---|---|---|---|---|
| 2021f | 2020 | ||||
| Cash | in | hand | 206,117 | 3,121 | |
| Overdraft | facility repayable | on demand | (35,972) | ||
| Total | cash and cash equivalents | 206,117 | (32,851) |
| At 1 | At 31 | ||||||
|---|---|---|---|---|---|---|---|
| January | December | ||||||
| 2021 | Cash flows | 2021 | |||||
| Cash | at bank and | in hand | 3,121 | 202,996 | 206,117 | ||
| Bank | overdrafts | repayable | on demand | (35,972) | 35,972 | ||
| (32,851) | 238,968 | 206,117 |
| payments | und | er non-cancellable operating lease |
s as follows: | |||
|---|---|---|---|---|---|---|
| Group | Group | Society | Society | |||
| 2021 | 2020 | 2021 | 2020 | |||
| Not later than | 1 year | 3,516 | 9,654 | 3,516 | 9,654 | |
| Later than | 1 year and not later than 5 years | 7,441 | 2,383 | 7,441 | 2,383 | |
| 10,957 | 12,037 | 10,957 | 12,037 |