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2022-12-31-accounts
|
Page |
| Reference andAdministrativeDetailsoftheSociety,itsTrusteesandAdvisers |
1 |
| Chairman·s Statement |
2-3 |
| Trustees'Report |
4-13 |
| IndependentAuditors'ReportontheFinancialStatements |
14-17 |
| ConsolidatedStatementofFinancialActivities |
18-19 |
| ConsolidatedBalance Sheet |
20 |
| SocietyBalance Sheet |
21-22 |
| ConsolidatedStatementofCashFlows |
23 |
| NotestotheFinancialStatements |
24- 39 |
| Trustees |
Mr C.P.B. Burgoyne, Chairman |
|
Dr S.L. Greener, Vice Chair |
|
Mr T.H. Gribble |
|
MrM.R. Martin, Treasurer |
|
MrsM.Thomas-Atkin |
|
MsJ.McElhinney, Vice Chair |
|
MrR.Stevenson {resigned 25 July 2022) |
|
Mr J.J. Allen |
|
MrA.Smith |
|
MrI.J.Massow |
| Company registered |
|
| number |
00527571 |
| Charity registered |
|
| number |
227033 |
| Registered office |
Selsfield Road |
|
Ardingly |
|
West Sussex |
|
RH17 6TL |
| Company secretary |
MrM.R. Martin |
| Independent auditors |
Knill James LLP |
|
Chartered Accountants |
|
Statutory Auditor |
|
One Bell Lane |
|
Lewes |
|
East Sussex |
|
BN71JU |
| Investment adviser |
Canaccord |
|
8th Floor |
|
88 Wood Street |
|
London |
|
EC2V7QR |
|
|
Endowment |
Restricted |
Unrestricted |
Total |
Total |
|
|
funds |
funds |
funds |
funds |
funds |
|
|
2022 |
2022 |
2022 |
2022 |
2021 |
|
Note |
£ |
£ |
£ |
£ |
£ |
| Income and |
|
|
|
|
|
|
| endowments from: |
|
|
|
|
|
|
| Donations and legacies |
3 |
|
|
22,732 |
22,732 |
19,741 |
| Charitable activities |
4 |
|
|
1,293,771 |
1,293,771 |
1,113,854 |
| Other trading activities |
5 |
|
|
920,837 |
920,837 |
641,490 |
| Investments |
6 |
|
|
13,884 |
13,884 |
8,389 |
| Other income |
|
|
|
35,002 |
35,002 |
132,802 |
| Total income and |
|
|
|
|
|
|
| endowments |
|
|
|
2,286,226 |
2,286,226 |
1,916,276 |
| Expenditure on: |
|
|
|
|
|
|
| Raising funds |
7 |
|
|
132,675 |
132,675 |
79,851 |
| Charitable activities |
|
|
|
1,822,708 |
1,822,708 |
1,440,101 |
| Total expenditure |
|
|
|
1,955,383 |
1,955,383 |
1,519,952 |
| Net income before |
|
|
|
|
|
|
| net (losses)/gains on |
|
|
|
|
|
|
| investments |
|
|
|
330,843 |
330,843 |
396,324 |
| Net (losses)/gainson |
|
|
|
|
|
|
| investments |
|
|
|
(8,179) |
(8,179) |
1,268 |
| Net income |
|
|
|
322,664 |
322,664 |
397,592 |
| Net movement in |
|
|
|
|
|
|
| funds before other |
|
|
|
|
|
|
| recognised |
|
|
|
|
|
|
| gains/(losses) |
|
|
|
322,664 |
322,664 |
397,592 |
| Other recognised |
|
|
|
|
|
|
| gains/(losses): |
|
|
|
|
|
|
| (Losses)/gainson |
|
|
|
|
|
|
| revaluation of fixed |
|
|
|
|
|
|
| assets |
|
|
(24,878) |
(64,577) |
(89,455) |
75,741 |
| Net movementin |
|
|
|
|
|
|
| funds |
|
|
(24,878) |
258,087 |
233,209 |
473,333 |
|
|
Endowment |
Restricted |
Unrestricted |
Total |
Total |
|
|
funds |
funds |
funds |
funds |
funds |
|
|
2022 |
2022 |
2022 |
2022 |
2021 |
|
Note |
£ |
£ |
£ |
£ |
£ |
| Reconciliationof |
|
|
|
|
|
|
| funds: |
|
|
|
|
|
|
| Total funds brought |
|
|
|
|
|
|
| forward |
|
193,937 |
113,676 |
2,368,895 |
2,676,508 |
2,203,175 |
| Netmovement in funds |
|
|
(24,878) |
258,087 |
233,209 |
473,333 |
| Total funds carried |
|
|
|
|
|
|
| forward |
|
193,937 |
88,798 |
2,626,982 |
2,909,717 |
2,676,508 |
|
|
|
2022 |
|
2021 |
|
Note |
|
£ |
|
£ |
| Fixed assets |
|
|
|
|
|
| Tangible assets |
12 |
|
1,831,667 |
|
1,795,325 |
| Investments |
13 |
|
992,742 |
|
828,878 |
|
|
|
2,824,409 |
|
2,624,203 |
| Current assets |
|
|
|
|
|
| Stocks |
14 |
2,908 |
|
2,908 |
|
| Debtors |
15 |
163,846 |
|
110,589 |
|
| Cashatbank andinhand |
|
271,405 |
|
206,117 |
|
|
|
438,159 |
|
319,614 |
|
| Creditors: amounts falling due within one |
|
|
|
|
|
| year |
16 |
(352,851) |
|
(267,309) |
|
| Net current assets |
|
|
85,308 |
|
52,305 |
| Total assets less current liabilities |
|
|
2,909,717 |
|
2,676,508 |
| Total net assets |
|
|
2,909,717 |
|
2,676,508 |
| Charity funds |
|
|
|
|
|
| Endowment funds |
17 |
|
193,937 |
|
193,937 |
| Restricted funds |
17 |
|
88,798 |
|
113,676 |
| Unrestricted funds |
17 |
|
2,626,982 |
|
2,368,895 |
| Total funds |
|
|
2,909,717 |
|
2,676,508 |
|
|
|
2022 |
|
2021 |
|
Note |
|
£ |
|
£ |
| Fixed assets |
|
|
|
|
|
| Tangible assets |
12 |
|
1,831,667 |
|
1,795,325 |
| Investments |
13 |
|
992,744 |
|
828,880 |
|
|
|
2,824,411 |
|
2,624,205 |
| Current assets |
|
|
|
|
|
| Stocks |
14 |
2,908 |
|
2,908 |
|
| Debtors |
15 |
159,150 |
|
120,302 |
|
| Cash at bank andinhand |
|
189,978 |
|
159,204 |
|
|
|
352,036 |
|
282)414 |
|
| Creditors: amounts falling due within one |
|
|
|
|
|
| year |
16 |
(305,355) |
|
(268,738) |
|
| Net current assets |
|
|
46,681 |
|
13,676 |
| Total assets less current liabilities |
|
|
2,871,092 |
|
2,637,881 |
| Net assets excluding pension asset |
|
|
2,871,092 |
|
2,637,881 |
| Total net assets |
|
|
2,871,092 |
|
2,637,881 |
| Charity funds |
|
|
|
|
|
| Endowment funds |
17 |
|
193,937 |
|
193,937 |
| Restricted funds |
17 |
|
88,798 |
|
113,676 |
| Unrestricted funds |
17 |
|
2,588,357 |
|
2,330,268 |
| Total funds |
|
|
2,871,092 |
|
2,637,881 |
|
2022 |
2021 |
|
£ |
£ |
| Cash flows from operating activities |
|
|
| Net cash used in operating activities |
468,670 |
433,592 |
| Cash flows from investing activities |
|
|
| Dividends. interests and rents from investments |
13,884 |
8,389 |
| Proceeds from the saleoftangible fixed assets |
6,205 |
|
| Purchaseoftangible fixed assets |
{161,973) |
(69,512) |
| Proceeds from saleofinvestments |
97,111 |
27,693 |
| Purchase of investments |
(358,609) |
(161, 194) |
| Net cash usedininvesting activities |
(403,382) |
(194,624) |
| Cash flows from financing activities |
|
|
| Net cash providedbyfinancing activities |
|
|
| Changeincash and cash equivalentsinthe year |
65,288 |
238,968 |
| Cash and cash equivalents at the beginningofthe year |
206,117 |
(32,851) |
| Cash and cash equivalents at the end of the year |
271,405 |
206,117 |
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2022 |
2022 |
2021 |
|
£ |
£ |
£ |
| Donations |
22,732 |
22,732 |
19,741 |
| Total 2021 |
19,741 |
19,741 |
|
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2022 |
2022 |
2021 |
|
£ |
£ |
£ |
| Promotionofagriculture and horticulture |
1,293,771 |
1,293,771 |
1,113,854 |
| Total 2021 |
1,113,854 |
1,113,854 |
|
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2022 |
2022 |
2021 |
|
£ |
£ |
£ |
| Membership subscriptions |
113,066 |
113,066 |
91,848 |
| Income from SouthofEngland Event Centre |
807,771 |
807,771 |
549,642 |
|
920,837 |
920,837 |
641,490 |
| Total 2021 |
641,490 |
641,490 |
|
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2022 |
2022 |
2021 |
|
£ |
£ |
£ |
| Investment management fees |
4,832 |
4,832 |
3,713 |
| Total 2021 |
3,713 |
3,713 |
|
|
Activities |
|
|
|
|
undertaken |
Support |
Total |
Total |
|
directly |
costs |
funds |
funds |
|
2022 |
2022 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Promotionofagriculture and horticulture |
767,249 |
1,038,013 |
1,805,262 |
1,425,050 |
| Advancementofeducationinagriculture and |
|
|
|
|
| horticulture |
17,446 |
|
17,446 |
15,051 |
|
784,695 |
1,038,013 |
1,822,708 |
1,440,101 |
| Total 2021 |
563,966 |
876,135 |
1,440,101 |
|
| Auditors· remuneration |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Fees payable to the Society's auditor for the audit of the Society's annual |
|
|
| accounts |
12,960 |
12,152 |
| Fees payable to the Society's auditor in respect of: |
|
|
| All taxation advisory services not included above |
625 |
765 |
| All non-audit services not included above {payroll) |
1,242 |
1,416 |
|
Group |
Group |
Society |
Society |
|
2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Wages and salaries |
454,834 |
395,439 |
454,834 |
395,439 |
| Social security costs |
42,827 |
35,937 |
42,827 |
35,937 |
| Contribution to defined contribution pension |
|
|
|
|
| schemes |
22,129 |
20,021 |
22,129 |
20,021 |
|
519,790 |
451,397 |
519,790 |
451,397 |
|
Group |
Group |
Society |
Society |
|
2022 |
2021 |
2022 |
2021 |
|
No. |
No. |
No. |
No. |
| Office |
9 |
8 |
9 |
8 |
| Groundstaff |
4 |
4 |
4 |
4 |
|
13 |
12 |
13 |
12 |
|
Freehold |
Plant and |
Fixtures and |
|
|
|
property |
machinery |
fittings |
Trophies |
Total |
|
£ |
£ |
£ |
£ |
£ |
| Cost or valuation |
|
|
|
|
|
| At 1 January 2022 |
3,124,271 |
303,012 |
517,167 |
150,000 |
4,094,450 |
| Additions |
19,746 |
93,981 |
48,246 |
|
161,973 |
| Disposals |
(41,289) |
(21,755) |
|
|
(63,044) |
| At31December 2022 |
3,102,728 |
375,238 |
565,413 |
150,000 |
4,193,379 |
| Depreciation |
|
|
|
|
|
| At1 January 2022 |
1,563,381 |
257,411 |
478,333 |
|
2,299,125 |
| Charge for the year |
66,011 |
31,898 |
27,721 |
|
125,630 |
| Ondisposals |
(41,289) |
(21,755) |
|
|
(63,044) |
| At31December 2022 |
1,588,103 |
267,554 |
506,054 |
|
2,361,711 |
| Net book value |
|
|
|
|
|
| At31December 2022 |
1,514,625 |
107,684 |
59,359 |
150,000 |
1,831,668 |
| At31December 2021 |
1,560,890 |
45,601 |
38,834 |
150,000 |
1,795,325 |
|
Group |
Group |
Society |
Society |
|
2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Trophies |
55,594 |
55,594 |
55,594 |
55,594 |
|
|
|
Listed |
|
|
|
investments |
| Group |
|
|
£ |
| Cost or valuation |
|
|
|
| At 1 January 2022 |
|
|
828,878 |
| Additions |
|
|
326,506 |
| Disposals |
|
|
(105,290) |
| Revaluations |
|
|
(89,455) |
| Cash movements |
|
|
32,103 |
| At31December 2022 |
|
|
992,742 |
| Net book value |
|
|
|
| At31December2022 |
|
|
992,742 |
| At31December2021 |
|
|
828,878 |
|
Investmentin |
|
|
|
subsidiary |
Listed |
|
|
company |
investments |
Total |
| Society |
£ |
£ |
£ |
| Cost or valuation |
|
|
|
| At 1 January2022 |
2 |
828,878 |
828,880 |
| Additions |
|
326,506 |
326,506 |
| Disposals |
|
(105,290) |
(105,290) |
| Revaluations |
|
(89,455) |
(89,455) |
| Cash movements |
|
32,103 |
32,103 |
| At31December 2022 |
2 |
992,742 |
992,744 |
| Net book value |
|
|
|
| At31December 2022 |
2 |
992,742 |
992,744 |
| At31December2021 |
2 |
828,878 |
828,880 |
| The financial resultsofthe subsidiary fo |
r the year were: |
|
|
|
| Name |
Income |
Expenditure |
Profit/(Loss) |
Net assets |
|
£ |
£ |
for the year |
£ |
|
|
|
£ |
|
| SouthofEngland Event Centre |
807,771 |
498,043 |
309,728 |
38,629 |
| Limited |
|
|
|
|
|
Group |
Group |
Society |
Society |
|
2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Stock |
2,908 |
2,908 |
2,908 |
2,908 |
|
Group |
Group |
Society |
Society |
|
2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Due within one year |
|
|
|
|
| Trade debtors |
78,307 |
33,408 |
48,953 |
49,161 |
| Amounts owed by group undertakings |
|
|
34,728 |
|
| Other debtors |
10,809 |
644 |
836 |
644 |
| Prepayments and accrued income |
74,730 |
76,537 |
74,633 |
70,497 |
|
163,846 |
110,589 |
159,150 |
120,302 |
|
Group |
Group |
Society |
Society |
|
2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Trade creditors |
161,656 |
105,240 |
159,707 |
107,861 |
| Amounts owed to group undertakings |
|
|
|
51,080 |
| Other taxation and social security |
47,642 |
31,228 |
41,746 |
22,905 |
| Other creditors |
2,948 |
2,727 |
2,948 |
2,727 |
| Accruals and deferred income |
140,605 |
128,114 |
100,954 |
84,165 |
|
352,851 |
267,309 |
305,355 |
268,738 |
|
Group |
Group |
Society |
Society |
|
2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Deferred income at 1 January 2022 |
116,985 |
180,019 |
73,036 |
156,639 |
| Resources deferred during the year |
130,705 |
116,985 |
91,057 |
73,036 |
| Amounts released from previous periods |
(116,985) |
(180,019) |
(73,036) |
(156,639) |
|
130,705 |
116,985 |
91,057 |
73,036 |
| 17. |
Statementoffunds |
|
|
|
|
|
|
|
Statementoffunds-current |
year |
|
|
|
|
|
|
|
|
|
|
|
|
Balanceat |
|
|
Balanceat1 |
|
|
|
|
31 |
|
|
|
January |
|
|
Gains/ |
December |
|
|
|
2022 |
Income |
Expenditure |
(Losses) |
2022 |
|
|
|
£ |
£ |
£ |
£ |
£ |
|
Unrestrictedfunds |
|
|
|
|
|
|
|
General Fund |
2,368,895 |
|
2,286,226 |
(1,955,383) |
(72,756) |
2,626,982 |
|
Endowmentfunds |
|
|
|
|
|
|
|
Endowment Fund |
|
193,937 |
|
|
|
193,937 |
|
Restrictedfunds |
|
|
|
|
|
|
|
The Abergavenny Educational |
|
|
|
|
|
|
|
Fund |
|
113,676 |
|
|
(24,878) |
88,798 |
|
Totaloffunds |
|
2,676,508 |
2,286,226 |
(1,955,383) |
(97,634) |
2,909,717 |
| Statementoffun |
ds- prior year |
|
|
|
|
|
|
|
|
|
|
|
Balance at |
|
Balance at |
|
|
|
|
31 |
|
1 January |
|
|
Transfers |
Gains/ |
December |
|
2021 |
Income |
Expenditure |
in/out |
(Losses) |
2021 |
|
£ |
£ |
£ |
£ |
£ |
£ |
| Unrestricted |
|
|
|
|
|
|
| funds |
|
|
|
|
|
|
| Designated |
|
|
|
|
|
|
| funds |
|
|
|
|
|
|
| Maintenance |
|
|
|
|
|
|
| fund |
121,538 |
|
|
(121,538) |
|
|
| General funds |
|
|
|
|
|
|
| General Fund |
1,783,100 |
1,916,276 |
(1,519,952) |
121,538 |
67,933 |
2,368,895 |
| Total |
|
|
|
|
|
|
| Unrestricted |
|
|
|
|
|
|
| funds |
1,904,638 |
1,916,276 |
(1,519,952) |
|
67,933 |
2,368,895 |
| Endowment |
|
|
|
|
|
|
| funds |
|
|
|
|
|
|
| Endowment |
|
|
|
|
|
|
| Fund |
193,937 |
|
|
|
|
193,937 |
| Restricted |
|
|
|
|
|
|
| funds |
|
|
|
|
|
|
| The |
|
|
|
|
|
|
| Abergavenny |
|
|
|
|
|
|
| Educational |
|
|
|
|
|
|
| Fund |
104,600 |
|
|
|
9,076 |
113,676 |
| Totaloffunds |
2,203,175 |
1,916,276 |
(1,519,952) |
|
77,009 |
2,676,508 |
| Analysisofnet assets between fund |
s..current year |
|
|
|
|
Endowment |
Restricted |
Unrestricted |
Total |
|
funds |
funds |
funds |
funds |
|
2022 |
2022 |
2022 |
2022 |
|
£ |
£ |
£ |
£ |
| Tangible fixed assets |
193,937 |
|
1,637,730 |
1,831,667 |
| Fixed asset investments |
|
88,798 |
903,944 |
992,742 |
| Current assets |
|
|
438,159 |
438,159 |
| Creditors due within one year |
|
|
(352,851) |
(352,851) |
| Total |
193,937 |
88,798 |
2,626,982 |
2,909,717 |
|
Endowment |
Restn'cted |
Unrestricted |
Total |
|
funds |
funds |
funds |
funds |
|
2021 |
2021 |
2021 |
2021 |
|
£ |
£ |
£ |
£ |
| Tangible fixed assets |
193,937 |
|
1,601,388 |
1,795,325 |
| Fixed asset investments |
|
113,676 |
715,202 |
828,878 |
| Current assets |
|
|
319,614 |
319,614 |
| Creditors due within one year |
|
|
(267,309) |
(267,309) |
|
193,937 |
113,676 |
2,368,895 |
2,676,508 |
|
|
|
Group |
Group |
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Net income for the year (as per StatementofFinancial Activities) |
|
322,664 |
397,592 |
|
Adjustments for: |
|
|
|
|
Depreciation charges |
|
125,630 |
99,191 |
|
(Gains)/lossesoninvestments |
|
8,179 |
(1,268) |
|
Dividends, interests and rents from investments |
|
(13,884) |
(8,389) |
|
Loss/(profit)onthe sale of fixed assets |
|
(6,206) |
|
|
Decreaseinstocks |
|
|
4,923 |
|
Increaseindebtors |
|
(53,254) |
(25,648) |
|
(Decrease)/increaseincreditors |
|
85,541 |
(32,809) |
|
Net cash providedbyoperating activities |
|
468,670 |
433,592 |
| 20. |
Analysisofcash and cash equivalents |
|
|
|
|
|
|
Group |
Group |
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Cashinhand |
|
271,405 |
206,117 |
|
Total cash and cash equivalents |
|
271,405 |
206,117 |
| 21. |
Analysisofchangesinnetdebt |
|
|
|
|
|
At1 |
|
At31 |
|
|
January |
|
December |
|
|
2022 |
Cashflows |
2022 |
|
|
|
£ |
£ |
|
|
£ |
|
|
|
Cash at bank andinhand |
206,117 |
65,288 |
271,405 |
|
|
206,117 |
65,288 |
271,405 |
|
Group |
Group |
Society |
Society |
|
2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Not later than 1 year |
1,882 |
3,516 |
1,882 |
3,516 |
| Later than 1 year and not later than 5 years |
5,559 |
7,441 |
5,559 |
7,441 |
|
7,441 |
10,957 |
7,441 |
10,957 |