## ||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_| ##