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||||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||||
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||||||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||||||
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||||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||
##
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##
|||||||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|
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||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|
##
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|||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|
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|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|
##
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|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|
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