REGISTERED COMPANY NUMBER: 00266722 (England and Wales) REGISTERED CHARITY NUMBER: 233656
TRUSTEES' REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD 1st FEBRUARY 2024 TO 31st JANUARY 2025
FOR
NATIONAL HONEY SHOW LIMITED(THE)
(A COMPANY LIMITED BY GUARANTEE)
NATIONAL HONEY SHOW LIMITED(THE) REFERENCE AND ADMINISTRATIVE DETAILS FOR THE PERIOD 1st FEBRUARY 2024 TO 31st JANUARY 2025
1
TRUSTEES
E Brown (elected 26th October 2023) J Burbidge (elected 18th November 2024) S Carter (elected 26th October 2023) JM Duffin F R Matheson RJ Maurer CS Mence
COMPANY SECRETARY
F R Matheson
REGISTERED OFFICE
17 Shire Lane Chorleywood Rickmansworth WD3 5NQ
REGISTERED COMPANY NUMBER
00266722 (England and Wales)
REGISTERED CHARITY NUMBER
233656
INDEPENDENT EXAMINER
Michael J O'Neill BSc. (Econ) A.C.M.A
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Annual Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements Detailed | 8 to 11 |
2
The National Honey Show Ltd Trustees Report 2025 For the period 1[st] February 2024 to 31[st] January 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 February 2024 to 31 January 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
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,
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(b) to promote an awareness of the importance of bees in the environment, and
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(c) to promote and further the craft of apiculture.
These are achieved through the media 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 charity with the assistance of sponsors and a practical workshop and demonstration programme. The 2023 Show was the Centenary Show, having started in 1923 and we were honoured with a visit from HRH the Princess Royal, who opened the Show and planted a Centenary Tree (False acacia).
The Trustees have had regard to the Charity Commission's guidance on public benefit. This is delivered through the standards set in the Competitive Show to educate beekeepers and the public in the importance of honey and products of the hive; and through its Educational Programme of lectures and workshops in promoting good apicultural husbandry.
The Trustees have also reviewed all the required policies relating to the risks associated with the show.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The 2024 National Honey Show (the 93[rd] show) was successfully staged at Sandown Park, Esher, Surrey with over 2,500 entries in this Show, up from 2.412 last year. Sixteen countries plus the UK took part in the competition. The workshop programme again proved very popular comprising over 30 workshops, mostly fully booked, over two and a half days. The 2024 main lectures were professionally videoed, financially assisted with the help of a grant of £2,500 from the CB Dennis Trust and a grant of £8,000 from the Worshipful Company of Wax Chandlers towards the cost of filming and editing. The lectures are available to view through our website on our YouTube Channel. This venture was again a great success and is a recognized source of high-quality information.
FINANCIAL REVIEW
Financial position
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, google advertising on our YouTube channel, the sale of honey and other products of the hive from the Gift Classes, a tombola and donations to general funds. Above all, the Trustees are most grateful to the Worshipful Company of Wax Chandlers, the CB Dennis Trust, the Blaxland family and Grans on the Make for their generous sponsorship, and to all those who sponsor lectures and prize money.
Income for the period amounted to £111,505 (2024: £112,903) and expenditure was £111,501 (2024: £116,686). In respect of its equity investments, the charity made unrealised gains in the period of £20,417 (2024: £4,195 losses). The overall gain for the period was therefore £20,421 (2024: £7,978 losses).
The accumulated unrestricted funds on 31 January 2025 were £174,058 (2024: 157,613), of which £100,000 has been treated as designated funds, as noted below. The restricted funds stood at £81,072 (2024: £77,096). The total reserves as at the year-end were £255,130 (2024: £234,709).
3
The National Honey Show Ltd Trustees Report 2025 For the period 1[st] February 2024 to 31[st] January 2025
The trustees' policy is to ensure there are sufficient reserves for the National Honey Show to continue for the next two years in the unlikely event that no income is generated.
Whilst most reserves are held in listed unit trusts managed for charities, these can fall in value as well as rise 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 trustees have reviewed the available resources and consider them adequate to fund activities for the foreseeable future and that the charity is a going concern.
RESTRICTED FUNDS
-
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 been attained. £42,926 (2024: £41,458)
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b) A single expendable Prize Endowment Fund holds sufficient funds to contribute to the annual prize money of specific show classes for a period of 20 years. £8,145 (2024: £5,637)
-
c) The Challenge Cup Insurance Reserve is intended to meet the costs of maintenance, repair or replacement of the Show's cups and trophies. £30,000 (2024: £30,000)
DESIGNATED FUNDS
During the period, the trustees again decided to designate some of the charity's unrestricted funds to various designated funds, as follows:
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Freehold property repairs fund - the charity owns a garage that is shown in the accounts under freehold property. The garage has become run down and the trustees have been advised that it may need some remedial work and therefore a fund of £5,000 has been created for this purpose.
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Show equipment replacement fund - the charity owns show equipment and stands that are used each year. This equipment is getting well worn. The trustees believe that £25,000 should be set aside to fund an investment in new equipment over the next few years.
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Educational programme fund - the trustees wish to expand the current educational programme by producing videos and educational materials that will be used at the shows each year and be made available on YouTube. They believe that the videos will promote the annual shows and enhance the general public's knowledge and understanding of bees and beekeeping. £50,000 has been designated for these purposes.
-
100th Show fund - the charity will have its 100th show in 2031 and the trustees are planning a spectacular show that year and therefore have decided to assign £20,000 to this fund.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The National Honey Show is a charitable company limited by guarantee governed by The Memorandum and Articles of Association, first drafted in 1932, amended and lodged with Companies House and the Charities Commission in 2022.
Recruitment and appointment of new trustees
The Articles state that there must be a minimum of three Trustees, who are appointed by the membership at the AGM. One third (or the number nearest to one third) of the Trustees must retire every year, those longest in office retiring first and the choice between any of equal service being made by drawing lots. A retiring Trustee may be reappointed.
4
The National Honey Show Ltd Trustees Report 2025 For the period 1[st] February 2024 to 31[st] January 2025
Organisational structure
The National Honey Show is organised by a board of directors, who are also the trustees of the Charity and an Executive Committee, which has seven 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 Eire, and the major beekeeping organisations, plays an important part in providing advice to the Trustees.
The Annual General Meeting of the National Honey Show is open to all members and is held immediately before that of the National Council.
Approved by order of the board of trustees on 21[st] July 2025 and signed on its behalf by:
F.R. Matheson Trustee and General Secretary
5
The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)
Independent Examiner’s Report
The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
The charity’s trustees consider 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:
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examine the accounts under section 145 of the Charities Act,
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to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the Act, and
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to state whether particular matters have come to my attention
My examination was carried 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 trustees concerning 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 ‘true and fair’ 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:
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accounting records were not kept in accordance with section 130 of the Charities Act or
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the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Michael Joseph O’Neill 1[st] September 2025 Bsc (Econ) A.C.M.A.
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The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES for the Year ended 31[st] January 2025
| Year ended 31-Jan-2025 37,730 47,992 7,470 18,313 |
Year ended 31-Jan-2024 |
|||||
|---|---|---|---|---|---|---|
| Unrestricted funds |
Restricted funds £ |
Total Funds |
||||
| Notes | Notes £ |
£ | ||||
| INCOME AND ENDOWMENTS | ||||||
| 2 Donations and Legacies 3 Activities for generating funds 4 Charitable Activities 5 Investment income |
10 34,335 47,992 7,470 10 16,845 |
3,395 | 46,259 43,750 16,261 6,633 |
|||
| 1,468 | ||||||
| TOTAL INCOME | 106,642 | 4,863 | 111,505 | 112,903 | ||
| EXPENDITURE | ||||||
| 6 Cost of generating voluntary income 7 Charitable activities 8 Support costs |
12,747 10 95,546 2,322 |
12,747 96,433 2,322 |
13,229 100,684 2,773 |
|||
| 887 | ||||||
| TOTAL EXPENDITURE | 110,614 | 887 | 111,501 | 116,686 | ||
| NET INCOME (EXPENDITURE) | ||||||
| before gains (losses) | (3,972) | 3,976 | 4 | (3,783) | ||
| 12 Net gains (losses) on investments |
20,417 | 20,417 | (4,195) | |||
| NET INCOME (EXPENDITURE) | ||||||
| after gains (losses) | 16,445 | 3,976 | 20,421 | (7,978) | ||
| 10 Transfers between Funds |
(888) | |||||
| NET MOVEMENT IN FUNDS | 16,445 | 3,976 | 20,421 | (8,866) | ||
| TOTAL FUNDS BROUGHT FORWARD | 157,613 | 77,096 | 234,709 | 243,575 | ||
| TOTAL FUNDS CARRIED FORWARD | 174,058 | 81,072 | 255,130 | 234,709 | ||
7
The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)
BALANCE SHEET
as at 31[st ] January 2025
| Unrestricted Funds |
2025 Total Funds |
2024 Total Funds |
||
|---|---|---|---|---|
| Restricted Funds |
||||
| Notes | Notes £ |
£ | £ | £ |
| FIXED ASSETS | ||||
| 11 Tangible assets 12 Investments |
5,136 10 126,097 |
81,071 | 5,137 207,168 |
6,027 196,751 |
| Total fixed assets | 131,233 | 81,071 | 212,305 | 202,778 |
| CURRENT ASSETS | ||||
| Stocks 13 Debtors and prepayments Balance at bank |
3,101 7,365 |
3,101 7,365 39,903 |
3,624 6,082 30,576 |
|
| 39,903 | ||||
| 50,370 | 50,370 | 40,282 | ||
| 14 CREDITORS: due within one year |
(766) | (766) | (1,929) | |
| NET CURRENT ASSETS | ||||
| 49,604 | 49,604 | 49,604 | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 180,836 | 81,071 | 261,909 | 241,131 |
| 15 CRDITORS: due after one year |
(6,779) | (6,779) | (6,422) | |
| NET ASSETS | 174,057 | 81,071 | 255,130 | 234,709 |
| Represented by: | ||||
| Unrestricted funds 10 Restricted income funds |
174,058 81,072 |
157,613 77,096 |
||
| Total Funds | 255,130 | 234,709 | ||
The Charitable Company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the period ended 31[st] January 2025. q p y p y accordance with Section 476 of the Compamies Act 2006.
The Trustees acknowledge their responsibilities for:
(a) ensuring that the Charitable Company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statments which give a true and fair view of the state of affairs of the Charitable Company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements so far as applicable to the Charitable Company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23[rd] September 2025 and were signed on its behalf by:
F.R. Matheson Trustee
8
The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)
Notes to the Accounts
for the period ended 31[st] January 2025
1 . ACCOUNTING POLICIES
Basis of preparing the finanial statements
The financial statements of the Charitable Company, which is a public entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities prearing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)'. Financial Reporting Standard 102 ' The Financial Reporting Standard applicable in the UK and the Repiblic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value as modified by the revaluation of certain assets.
The Charity is not part of any group and therefore these statements cover the reporting entity only.
The presentation currency of the financial statements is the Pound Sterling (£)
Going concern
The Trustees have a reasonable expectation that the Charity, established for more than a 100 years, will continue to operate for the foreseeable future; so these financial statements are prepared in the going concern basis.
Legal status of the Charity
The charity is limited by guarantee and has no share capital. New Articles of Association were approved and adopted at the AGM on 27[th] October 2022 and replace both the Memorandum of Association and Articles of Association which previously prescribed regulations for the Charity.
Critical accounting judgements and key sources of estimating uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reprted for assets and liabilities as at the balance sheet date and the amounts reported for income and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Trustees' opinion, there are no significant judgements or key sources of estimation uncertainty
Income
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.
Grants and donations are only included in the SoFA when the general income recognition criteria are met
Investment income is recorded when receivable.
Expenditure and Liabilities
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular hadins they have been allocated to activities on a basis consistent with the use of resources.
Governance costs
Include costs of the preparation and examination of statutory accounts. Expenditure is recognised when incurred and includes VAT which cannot be recovered.
Tangible fixed assets
Depreciation is provided at the following annual rates in order 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
Quoted Investments
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 the Statement of Financial Activities.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance form for obsolete and slow moving items.
Taxation
The Charity is exempt from corporation tax on its charitable activitieis
9
The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)
Notes to the Accounts
for the period ended 31[st] January 2025
1 . ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees
Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are rIaised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
| Year ended 31-Jan-2025 £ |
Year ended 31-Jan-2024 £ |
|||
|---|---|---|---|---|
| DONATIONS and LEGACIES 2 . |
||||
| 13,357 3,159 3,204 2,076 10,170 878 1,580 3,306 |
13,680 13,584 352 2,940 13,384 869 1,450 |
|||
| 37,730 | 46,259 | |||
| ACTIVITIES for GENERATING FUNDS 3 . |
||||
| Year ended 31-Jan-2025 £ |
Year ended 31-Jan-2024 £ |
|||
| Day admissions Class entry fees and registrations Stand spaces less extra cost of electricity Advertising |
13,641 953 30,288 3,111 |
12,760 729 28,908 1,353 |
||
| 47,992 | 43,750 | |||
| INCOME from CHARITABLE ACTIIVITIES 4 . |
||||
| Year ended 31-Jan-2025 £ |
Year ended 31-Jan-2024 £ |
|||
| Lecture convention fees,sponsorships and grants Workshop Fees Receipts from Buy-back of exhibits and Sales table Sales of publications Rent received |
9,960 4,528 3,031 676 119 |
3,905 6,825 3,406 1,254 871 |
||
| 18,313 | 16,261 | |||
| INVESTMENT INCOME 5 . Charifund dividends CCLA (COIF) interest received CAF Bank & CCLA deposit interest Transfer to Deferred Life Members' subscriptions |
||||
| Year ended 31-Jan-2025 £ |
Year ended 31-Jan-2024 £ 4,916 1,324 581 (188) |
|||
| 5,175 1,342 1,195 (242) |
||||
| 7,470 | 6,633 | |||
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The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)
Notes to the Accounts
for the period ended 31[st] January 2024
6 . COSTS of GENERATING VOLUNTARY INCOME
| Year ended 31-Jan-2025 £ |
Year ended 31-Jan-2024 £ |
|
|---|---|---|
| Affiliation fees (BBKA) Postage and telephone Printing and stationery Advertising and publicity Tombola prizes Web design |
120 1,245 5,909 3,101 200 2,172 |
120 1,171 8,465 3,473 |
| 12,747 | 13,229 | |
| DIRECT COSTS of CHARITABLE ACTIVITIES 7 . Judges' and Stewards' expenses Engraving and medals Show prizes Hire of halls Workshops expenses Lecture convention expenses Audio visual, streaming, filming, etc. Show expenses Rent of Garage Centenary Photographic Exhibition |
||
| Year ended 31-Jan-2025 £ |
Year ended 31-Jan-2024 £ |
|
| 2,860 1,423 4,231 27,807 5,549 1,884 49,439 2,140 1,100 |
3,307 3,153 4,294 26,576 5,322 5,647 44,025 3,136 1,100 4,124 |
|
| 96,433 | 100,684 | |
| SUPPORT COSTS 8 . |
||
| Year ended 31-Jan-2025 £ |
Year ended 31-Jan-2024 £ |
|
| Insurance Sundry expenses Bank and Card Payment charges: Depreciation (see Note 11) |
542 | 519 103 995 1,156 |
| 889 891 |
||
| 2,322 | 2,773 | |
| TRUSTEES' REMUNERATION and BENEFITS 9 . |
||
| 31stJanuary 2024 There were no Trustees' remuneration or other benefit for the year ended 31 stJanuary 2025 nor for the period ended |
||
| Trustees' expenses No Trustees were reimbursed expenses in the year ended 31st January 2025 (period ended 31 stJanuary 2023 - £48) |
||
11
The National Honey Show Ltd. (REGISTERED CHARITY LIMITED BY GUARANTEE)
Notes to the Accounts
- 10 . MOVEMENT IN FUNDS
Restricted funds have been set aside for particular purposes.
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(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 Prize 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.
| Balance at 01-Feb-24 £ |
Income | Expenditure £ |
Balance at 31-Jan-2025 £ |
|
|---|---|---|---|---|
| £ | ||||
| Hamlin Memorial Fund Prize Endowment Fund Challenge Cup Insurance Reserve |
41,458 5,637 30,000 |
1,468 3,395 |
42,926 8,145 30,000 |
|
| 887 | ||||
| 77,095 | 4,863 | 887 | 81,071 | |
| Net movement in restricted funds | 3976 | |||
| TANGIBLE FIXED ASSETS 11 . |
Freehold property £ |
Show equipment £ |
Challenge cups £ |
Totals |
| £ | ||||
| COST At 1stFebruary 2024 Additions in year |
||||
| 3,040 | 13,562 | 6,477 | 23,079 0 |
|
| At 31st January 2025 | 3,040 | 13,562 | 6,477 | 23,079 |
| DEPRECIATION At 1stFebruary 2024 Charge for the year |
||||
| 1,424 | 10,567 749 |
5,061 142 |
17,052 891 |
|
| At 31st January 2025 | 1,424 | 11,316 | 5,203 | 17,943 |
| NET BOOK VALUE | ||||
| At 31st January 2025 | 1,616 | 2,246 | 1,274 | 5,136 |
| At 31stJanuary 2024 | 1,616 | 2,995 | 1,416 | 6,027 |
| The Trustees value the freehold property at £24,000 and the cups at £30,000 | ||||
| FIXED ASSET INVESTMENTS 12 . |
2025 £ |
2024 £ |
||
| MARKET VALUE At 1stFebruary 2024 Disposals in year Gain (Loss) on revaluation |
||||
| 196,751 (10,000) 20,417 |
215,945 (15,000) (4,194) |
|||
| At 31stJanuary 2025 | 207,168 | 196,751 | ||
| DEBTORS 13 . |
2025 £ 7,365 |
2024 £ 6,082 |
||
| Amounts falling due within one year and prepayments | ||||
| 2025 £ |
2024 £ |
|||
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 14 . |
||||
| Life Member subscriptions deferred Accruals and deferred income |
739 27 |
722 1,207 |
||
| 766 | 1,929 | |||
| CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 15 . |
2025 £ |
2024 £ |
||
| Life Member subscriptions deferred | (6,799) | 6,422 |