**THE NATIONAL HONEY SHOW LIMITED (REGISTERED CHARITY LIMITED BY GUARANTEE)** Annual Report and Accounts for the year ended 31[st] May 2021 **Company Number: 266722 Charity Number: 233656** **The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)** ## **ANNUAL REPORT AND ACCOUNTS for the year ended 31[st] May 2021** |**INDEX**|**Page**| |---|---| |Company Information|1| |Trustees’ Annual Report|2 - 3| |Independent Examiner’s Report|4| |Statement of Financial Activities|5| |Balance Sheet|6| |Notes to the Accounts|7 - 10| 1 **The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)** **ANNUAL REPORT AND ACCOUNTS for the year ended 31[st] May 2021** ## **COMPANY INFORMATION** ## **DIRECTORS AND TRUSTEES:** **J.M. Duffin J.D. Hendrie C. Lewis F.R. Matheson R. Maurer C.S. Mence** **SECRETARY: REGISTERED OFFICE:** **F.R. Matheson** **17 Shire Lane Chorleywood Rickmansworth Hertfordshire WD3 5NQ** **REGISTERED NUMBER: REGISTERED CHARITY NUMBER: INDEPENDENT EXAMINER:** **266722 (England & Wales) 233656** **M.J. O’Neill Anscar, Hook Road Greywell, Hook Hampshire RG29 1BT** 2 **The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)** ## **TRUSTEES’ ANNUAL REPORT** The directors, as trustees, present their report with the accounts of the Company for the year ended 31[st] May 2021 ## **OBJECTIVES** The objects of the Charity are to advance the science of apiculture and for the benefit of the public (a) to support and encourage good apicultural husbandry and management, (b) to promote an awareness of the importance of bees in the environment (c) to promote and further the craft of apiculture These are achieved through the medium of both national and international competitive classes for honey and related products. Coupled with the Annual Show there is a Trade Exhibition, and a full educational lecture programme, which is funded by the National Honey Show with the assistance of sponsors. Some of these activities were restricted in 2020. ## **ORGANISATIONAL MANAGEMENT** The National Honey Show is organised by a board of directors, who are also trustees, and an executive committee, which has five sub-committees. The smooth running of the Show depends upon the many volunteers -those who serve on the committees, the Judges and all those who perform a multitude of different tasks before, during and after the Show. The National Council, which meets annually and consists of delegates from many of the beekeeping counties of the British Isles and the major beekeeping organisations, plays an important part in providing advice to the Trustees. An Annual General Meeting, open to all members, is held on the same day immediately before that of the National Council, to which this Report is submitted. The Trustees have also reviewed all the required policies relating to the risks associated with the show. ## **MAIN ACTIVITY** The 2019 National Honey Show (the 88[th] show) was successfully staged at Sandown Park, Esher, Surrey, with 2152 exhibits from 291exhibitors. The 2019 lectures were professionally videoed (with the help of a grant of £2,000.00 from the C B Dennis Trust, towards the cost of filming) and are available to view through our website. This venture was again a great success and has scored many “hits”. The 2020 National Honey Show was held ‘virtually’ in view of the Covid 19 restrictions. No exhibits were staged and a series of pre-recorded lectures and workshops were successfully transmitted followed by live question and answer sessions. Many of the traders provided interesting videos and together with many affiliate members sponsored the programme. Over 2,500 people attended the show from all over the world, principally from UK; around 10% from N America; 10% from the rest of Europe. People logged in from 85 different countries covering all regions of the world. 3 **The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)** ## **TRUSTEES’ ANNUAL REPORT (continued)** ## **FINANCE** Income is derived from individual and corporate membership fees, annual subscriptions supplemented by an appropriate sum from the Life Members Fund, admissions paid at the door, trade exhibitors' stand rental, the sale of honey, a raffle and donations to general funds. Above all, the Trustees are most grateful to the Worshipful Company of Wax Chandlers and Kerax for their generous sponsorship, and to all those who made generous donations to replace income lost in 2020 from our usual incoming resources. In this most unusual year our Accounts show a increase in funds of £39,152 (2019: decrease £1,035) This is due to an operating surplus of £6,106 as well as a remarkable increase of £33,046 in the listed investments. Significant costs in 2020 included the cost of the platforms for providing the virtual show, videoing the lectures and the printing and despatching the show schedule to members and recent exhibitors. ## **Reserves Policy and Going Concern** The directors’ policy is to ensure there are sufficient reserves for the National Honey Show (already in its 98[th] year) to continue for the foreseeable future, say, 15 years. Three funds have been set aside from the company’s funds for the following purposes and are therefore treated as restricted funds. The Hamlin fund to pay the annual prize money, the Endowment fund to pay the prize money of the endowed classes and the Challenge Cup reserve to meet the costs or replacement of the Show’s cups and trophies. Whilst the majority of reserves are held in listed unit trusts managed for charities, these can reduce as well as increase in value. Likewise, the costs of hiring a suitable venue and providing and running a convention and lecture programme are increasing annually and future expenses and sponsorship are unpredictable. To achieve better rates of interest, all funds are held jointly, but the interest and dividends earned are apportioned pro-rata between the various funds in accordance with their respective balances at the start of the year. The directors have reviewed the available resources and consider them adequate to fund activities for the foreseeable future and that the charity is a going concern. ## **DIRECTORS AND GENERAL SECRETARY** The Directors who served during the year were: J.M. Duffin, J.D. Hendrie, C. Lewis, F.R.Matheson, R. Maurer, C.S. Mence ## **INDEPENDENT EXAMINER** Mike O’Neill has been re-appointed as the Independent Examiner On behalf of the Board 22[nd] October 2021 F.R. Matheson The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT The charity's trustees are r8sponsiF￿e for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (Ihe Art.). The charity's trustees consid8r that an audit is not required for this year under section 144 of the Act and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the Charities Act, to follow the applicable Directions given by the Charity Commission (under section 145{5){b) of the Act, and to state whether particular matters have come to my attention My examination was ¢artied out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a Comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the tnjstees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a Irue and fairf view and the report is limited to those matters set out in the statement below. In connection with my examination. no material matters have come to my attention which gives me cause to believe that in: any material respect= accounting records were not kept in accordance wtth section 130 of the Charities Act or the accounts do not accord with the accounting records I have no concems and have come across no other matters in connection with the examination to vthich attention should be dravm in order to enable a proper understanding of the accounts to be reached. Michael Joseph O'Neill Bs¢ (Econ) A.C.M.A. 16° July 2021 5 ## **The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)** ## **STATEMENT OF FINANCIAL ACTIVITIES** **for the year ended 31[st] May 2021** **----- Start of picture text -----**
Unrestricted Restricted 2021 2020
funds income
funds
Notes £ £ £ £
Incoming resources
Incoming resources from generated funds
Voluntary income 2 33,058 33,058 22,708
Activities for generating funds 3 1,578 1,578 47,510
Income from charitable activities 4 6,829 6,829 22,709
Investment income 5 3,729 1,066 4,795 5,566
Total incoming resources 45,193 1,066 46,259 98,493
Resources expended
Costs of generating funds
Cost of generating voluntary income 6 (4,760) (4,760) (9,255)
Charitable activities 7 (33,446) (33,446) (68,758)
Support costs 8 (1,947) (1,947) (2,765)
Total resources expended (40,153) (40,153) (80,777)
Net incoming (outgoing) resources 5,040 1,066 6,106 17,716
Gain (Loss) on revaluation of fixed asset 12 33,046 33,046 (18,751)
Net movement in funds 38,086 1,066 39,152 (1,035)
Total funds brought forward 130,799 72,433 203,231 204,266
Total funds carried forward 168,884 73,499 242,383 203,231
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6 ## **The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)** ## **BALANCE SHEET** **as at 31[st ] May 2021** |**BALANCE SHEET**
**as at 31stMay 2021**||||| |---|---|---|---|---| ||**_2021_**||_2020_|| |||||| |Notes|£|**£**|£|£| |**Fixed assets**||||| |11
Tangible assets
12
Investment||**4,173**
**210,352**||4,396
165,307| |||||| |||||| |Total fixed assets||**214,525**||169,703| |||||| |**Current assets**||||| |Stocks
13
Debtors and prepayments
Balance at bank|4,663
4,759||4,748
5,013
32,172|| |||||| ||33,420|||| |||||| |Total current assets|42,842||41,932|| |||||| |14
**Creditors: due within one year**|(9,113)||(2,443)|| |Net current assets||||| |||**33,729**||39,489| |||||| |Total assets less current liabilities||**248,254**||209,192| |||||| |15
**Creditors: due after one year**||**(5,871)**||(5,961)| |||||| |**Net assets**||**242,383**||203,231| |||||| |||||| |**Represented by:**||||| |||||| |Unrestricted funds
10
Restricted income funds||**168,884**
**73,498**||130,799
72,432| |||||| |||||| |**Total funds**||**242,383**||203,231| |||||| |||||| |||||| |||||| For the year ended 31[st] May 2021 the company was entitled to the exemption from audit under section 477 Companies Act 2006; and no notice has been deposited under section 476B(2).The directors acknowledge their responsibility for (a) ensuring that the company keeps accounting records which comply with section 386 of the Act and (b) preparing accounts which give a true and fair view of the state of affairs of the company as at the year end and of its result for the year in accordance with the requirements of sections 393 and 394 and which otherwise comply with the requirements of the Companies Act 2006 so far applicable to the company. The accounts have been prepared in accordance with the provisions of the Companies Act 2006 applicable to small companies and were approved by the board of directors on 22[nd] October 2021 and were signed on its behalf by F.R. Matheson Director 22nd October 2021 7 ## **The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)** ## **Notes to the Accounts** **for the year ended 31[st] May 2021** - **1 Accounting policies** The following accounting policies have been complied with in preparing the accounts: Basis of Preparation The accounts have been prepared under the historic cost convention, with the exception that investments are valued at market value. ## **Income** (a) Income is recognised when the company becomes entitled to it, the Trustees are virtually certain they will receive it and the monetary value can be measured with sufficient reliability. Life Member's subscriptions are accounted for over a period of 16 years. The unexpired portion of Life Members' subscription is recognised in the period in which it relates. - (b) Investment income is recorded when receivable. Expenditure and Liabilities Expenditure is included in the accounts on an accrual basis. Irrecoverable VAT is charged to the income and expenditure account as incurred. ## **Assets** **----- Start of picture text -----**
(a) Tangible fixed assets are depreciated at the following annual rates to write off each asset
over its estimated useful life.
Freehold property - nil from 1 [st] June 2001
Show equipment - 25% on reducing balance
Challenge cups - 10% on reducing balance
(b) Quoted investments are valued at market value at the balance sheet date. Unrealised and realised investment
gains and losses are treated as unrestricted funds in th Statement of Financial Acivities.
Fund accounting
(a) Unrestricted funds are available for use at the discretion of the directors in furtherance of the general objectives
of the Charity. Unrestricted funds include the restatement of investment assets at market value.
(b) Restricted funds comprise donations and other income held on trust for specific purposes. Restricted funds are
represented by investments and bank balances which are held jointly on behalf of restricted and unrestricted funds.
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2 Voluntary income 2021 2020
£ £
Subscriptions 4,054 14,379
Donations received 26,504 586
Prize money donations (including from counties) 2,767
Grants (CB Dennis Trust) 2,500 2,000
Draw proceeds 1,129
Prize Endowments 1,847
33,058 22,708
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8 ## **The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)** ## **Notes to the Accounts** ## **for the year ended 31[st] May 2021** **----- Start of picture text -----**
3. Activities for generating income 2021 2020
£ £
Day admissions 12,240
Class entry fees and registrations 1,249
Stand spaces 32,592
Advertising 1,578 1,429
1,578 47,510
4. Income from charitable activities 2,021 2,020
£ £
Lecture convention grant (Wax Chandlers) 6,500 19,618
Receipts from Buy-back of exhibits and Sales table 2,565
Sales of publications 329 527
6,829 22,709
5. Investment Income Unrestricted Restricted 2,021 2,020
funds income
funds
£ £ £ £
Charifund dividends 3,861 - 3,861 4,853
CCLA (COIF) interest received 1,099 - 1,099 908
Total Investment Income 4,961 4,961 5,762
Transfer to restricted funds (1,066) 1,066 -
Transfer to Deferred Life Members' subscriptions (166) (166) (195)
3,729 1,066 4,795 5,566
6. Costs of generating voluntary income 2,021 2,020
£ £
Draw expenses 254 474
Affiliation fees (BBKA & NCVO) 235 100
Postage and telephone 545 1,424
Printing and stationery 1,790 4,810
Advertising and publicity 1,936 2,447
4,760 9,255
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9 ## **The National Honey Show Ltd.** ## **(REGISTERED CHARITY LIMITED BY GUARANTEE)** ## **Notes to the Accounts** ## **for the year ended 31[st] May 2021** **----- Start of picture text -----**
7. Charitable activities Unrestricted Restricted 2021 2020
funds income
funds
£ £ £ £
Judges' and Stewards' expenses 1,674
Engraving and medals 954
Show prizes 3,268
Hire of halls 24,546
Workshops and Lecture convention expenses 2,289 2,289 6,540
Lecture videos (Eclipse 2020 Sunfacer 2019) 22,156 22,156 12,970
Audio visual (Crowd comms 2020 Keystone 2019) 9,000 9,000 16,282
Show equipment 2,524
33,446 33,446 68,758
8. Support costs 2,021 2,020
£ £
Professional and small liability insurance 415
Sundry expenses 1,207
Legal 1,188
Bank charges:- CAFBank, Paypal, Stripe & iZettle 136 381
Depreciation (see Note 11) 624 762
1,947 2,842
9. Taxation
The company is a registered charity and accordingly is exempt from taxation on its income and gains
where they are applied for charitable purposes.
10. Restricted Funds
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Restricted funds have been set aside for particular purposes. - (a) The Hamlin Memorial Fund is intended to be built up until the income is sufficient to pay the annual prize money, which objective has not yet been attained. - (b) A single expendable Endowment Fund holds sufficient funds to contribute to the annual prize money of specific show classes for a period of 20 years. - (c) The Challenge Cup Insurance Reserve is intended to meet the costs of maintenance, repair or replacement of the Show's cups and trophies. **----- Start of picture text -----**
Movement of funds Balance at Income Expenditure Balance at
1 [st] June 2020 31 [st] May 2021
£ £ £ £
Hamlin Memorial Fund 37,881 952 38,833
Endowment Fund 4,551 114 4,666
Challenge Cup Insurance Reserve 30,000 30,000
72,433 1,066 73,498
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10 ## **The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)** ## **Notes to the Accounts** ## **for the year ended 31[st] May 2021** **----- Start of picture text -----**
11. Fixed Assets Freehold Show Challenge Total
property equipment cups
£ £ £ £
Cost
At 1 [st] June 2020 3,040 9,632 5,337 18,009
Additions in year 400 400
At 31st May 2021 3,040 9,632 5,737 18,409
Depreciation
At 1 [st] June 2020 1,424 7,595 4,594 13,613
Charge for the year 509 114 624
At 31 [st] May 2021 1,424 8,105 4,708 14,237
Net book value at 31 [st] May 2021 1,616 1,528 1,029 4,173
Net book value at 1 [st] June 2020 1,616 2,037 743 4,396
The directors value the cups at £30,000
12. Fixed asset investments 2,021 2,020
£ £
Market value at 1 [st] June 2020 165,307 169,058
Acquisitions in year 12,000 15,000
Gain (Loss) on revaluation 33,046 (18,751)
Market value at 31 [st] May 2021 210,352 165,307
13. Debtors 2,021 2,020
£ £
Amounts falling due within one year and prepayments 4,759 5,013
14. Creditors: due within one year 2,021 2,020
£ £
Life Member subscriptions deferred 632 631
Accrued expenses and deferred income 8,481 1,812
9,113 2,443
15. Creditors: due after one year 2,021 2,020
£ £
Life Member subscriptions deferred 5,871 5,961
16. Related party transactions
None of the directors received any remuneration from the company in the year (2020: none). No directors
were reimbursed expenses during the year (2020: 6 Directors £490).
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## **17. Company status** The company is limited by guarantee and has no share capital. In the event of winding up each member of the association has undertaken to contribute an amount of £1.