2021-09-30-accounts - The Royal Isle Of Wight Agricultural Society

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REGISTERED CHARITY NUMBER: 249519

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight PO30 5BZ

ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

	Page
Report of the Trustees	1 to	4
Independent Examiner's Report	5
Consolidated Statement of Financial Activities	6
Consolidated Balance Sheet	7
Parent Statement of Financial Activities	8
Parent Balance Sheet	9
Notes to the Financial Statements	10 to	20

ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

The trustees present their report with the financial statements of the charity for the year ended 30 September 2021. 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 objectives of the Charity, as set out in the Trust Deed, are within the Isle of Wight to encourage agriculture generally and the preservation of the physical and natural environment and, in particular and without prejudice to the generality of the foregoing, by promoting understanding, knowledge and awareness amongst the general public of the physical and natural environment by all or any of the following means - publications, funding, meetings, organising displays, promotional events and the County Show.

Another objective is to assist people in furthering their education in their trades, vocations and professions linked to agriculture and the physical and natural environment via recognised training and educational establishments or individuals by bursaries, grants and support.

Objectives for the year

The primary objective for the year has been to continue to develop the Society's support for the rural sector. This is normally undertaken by running a successful Royal Isle of Wight County Show, the provision of financial support for individuals undertaking education and personal development activities and to support the local food sector. Unfortunately, due to the Covid-19 outbreak it was not possible to hold this year's County Show.

Strategy to achieve these objectives

The Executive Committee has retained the organisation of the County Show in-house, via its County Show sub-committee and secretariat contract. The Rural Careers Fund entered its Eighth year offering both Scholarships and Bursaries.

Public benefit

All the activities of the Charity focus on delivering community benefit and are in accordance with the objects of the Charity.

The Trustees have complied with their duty to have due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant.

Grantmaking

The Charity has ensured that the criteria that it uses to apply funding has been in accordance with the Constitution. The applicant must be engaged or linked to an agricultural or environmental activity and be receiving recognised training, education or personal development. The Rural Careers Fund sub-committee has awarded scholarships or bursaries only for the duration of one year following which further application may be made.

Page 1

ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

ACHIEVEMENT AND PERFORMANCE

Principle activities for the year

With long periods of the year affected by the Covid 19 outbreak, much of the Society's activities were curtailed. This included the County Show and the annual Education Day.

As soon as the Covid 19 restrictions were lifted the Society held 4 Open Air Markets and the inaugural IW Country Fair to support local traders who had been unable to trade, and to allow the general public to shop in a low risk environment.

During the second half of the year use of the County Showground increased but it remained below pre Covid-19 levels.

In addition to its Executive Committee the Society now has four sub committees:

County Show
Rural Careers Fund
Wight Marquee
Strategy

FINANCIAL REVIEW

Review of performance for the year

Unfortunately, due to the Covid 19 pandemic, the County Show did not take place for a second year and the annual Education Day was also cancelled.

However, the Society continued its support for the rural sector by holding 4 Open Air Markets at the County Showground. In addition, at the end of the summer, the Society held the inaugural Isle of Wight Country Fair.

The aim for the Country Fair was to create a distinctly different event with a friendly and relaxed atmosphere. The interest generated meant we had to limit numbers and stopped selling tickets on the Friday evening before the Fair. 2,600 people attended the fair. From the feedback received the fair was considered to be resounding success, meeting all the objectives of the small but committed organising committee. Once again, tremendous thanks go to all our volunteers, partners and sponsors.

The evening before the IW Country Fair the Island's Lord Lieutenant presented the Show Committee and volunteers with The Queen's Award for Voluntary Services.

Overall, notwithstanding the continued challenges faced as a result the Covid 19 pandemic, the Society has had another good year with membership numbers up, a successful Country Fair held and continued support for the Island's rural communality.

In 2022 it is hoped to see the return of the Royal Isle of Wight County Show and Education Day, with planning and preparations already being undertaken.

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ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

FINANCIAL REVIEW

Financial review

The income for the County Show Limited was up on the previous year at £14,807 (2020 - £2,588) thanks to being able to hold the County Fair event. Expenditure in total was also up this year at £13,486 (2020 - £6,010). The result of these variations led to a profit for the year of £1,321 (2020 - loss of £3,422). All profits of the subsidiary are normally donated to the parent charity, but the trading losses brought forward from 2020 outweighed the profit made during the year.

The Charity's income for the year was £49,080 (2020 - £38,252) and expenditure was £50,282 (2020 - £33,080). The Charity reported a total deficit for the year of £1,202 (2020 - surplus of £5,172).

The overall consolidated surplus for the year was £119 (2020 - £1,752).

FINANCIAL REVIEW

Reserves policy

As part of the Executive Committees financial best practice approach a Reserve Policy was introduced in 2018. The policy is to retain cash reserves equivalent to half the cost of the next County Show and to cover the notice period (3 months) of the office contract. The Society currently adheres to its Reserve Policy.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The Charity was founded in 1894 and is governed by its trust deed dated 11 January 2006.

Recruitment and appointment of new trustees

The officers of the Charity are elected each year by the members at the Annual General Meeting. The Executive Management Committee is elected for a period of three years.

One third of the Executive Management Committee will retire each year by rotation and the positions filled by election at the Annual General Meeting.

Organisational structure

The Charity has a wholly owned non-charitable subsidiary (Isle of Wight County Show Limited) which undertakes the management and trade of the annual County Show.

The performance of this is included in the results for the year.

It is the performance of the County Show which financially underpins the ability of the Charity to carry out its objectives.

Risk management

The Executive Committee manages risk, and Risk Assessments have been carried out where appropriate with regard to the activities in which it is engaged.

Specific attention has been given to the activities involved in the staging of the County Show and an Event Safety Plan is in place and is supported by specific Risk Assessments.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

249519

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ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Principal address

Shide Meadows Centre Shide Road Newport Isle of Wight PO30 1HR

Trustees

Mrs C Betley Mr G Biss Mr R M Brown Mrs R A Edwards Mr B F Gibbs - resigned 14/09/2021 Mrs J Griffin Mr D M Groves Mrs S F Groves Mr D Horne Mr J Heather Mrs G Kennett Mr D J S Russell

Independent Examiner

Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight PO30 5BZ

Approved by order of the board of trustees on 24 November 2021 and signed on its behalf by:

Mrs R A Edwards - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

Independent examiner's report to the trustees of Royal Isle of Wight Agricultural Society

I report to the charity trustees on my examination of the accounts of Royal Isle of Wight Agricultural Society (the Trust) for the year ended 30 September 2021.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

J Palmer FCCA Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight PO30 5BZ

Date: .............................................

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Royal Isle of Wight Agricultural Society Unrestricted Restricted funds funds Notes £ £ INCOME FROM Donations and legacies 2 34,189 1,000 Charitable activities 4 Income from charitable activities 7,170 - Other trading activities 3 6,232 - Other income 489 - Total income 48,080 1,000 EXPENDITURE ON Raising funds 5 45,000 333 Charitable activities 6 General 2,899 2,050 Total expenditure 47,899 2,383 NET INCOMING/(OUTGOING) RESOURCES 181 (1,383) Transfer between funds 16 - - Net movement in funds 181 (1,383) RECONCILIATION OF FUNDS Total funds brought forward 63,112 4,028 TOTAL FUNDS CARRIED FORWARD 63,293 2,645	IW County Show Ltd Unrestricted funds £ - - 14,807 - 14,807 13,186 300 13,486 1,321 - 1,321 1,028 2,349	2021 Total funds £ 35,189 7,170 21,039 489 63,887 58,519 5,249 63,768 119 - 119 68,168 68,287	2020 Total funds £ 26,642 5,950 8,248 -
			40,840 35,681 3,407
			39,088
			1,752 -
			1,752 66,417
			68,169

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

CONSOLIDATED BALANCE SHEET AT 30 SEPTEMBER 2021

Notes FIXED ASSETS Tangible assets 10 CURRENT ASSETS Debtors 13 Cash at bank and in hand CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS	Unrestricted Funds £ 35,784 35,784 12,745 28,574 41,319 (11,461) 29,858 65,642 65,642	Restricted Funds £ - - - 2,645 2,645 - 2,645 2,645 2,645	2021 Total funds £ 35,784 35,784 12,745 31,219 43,964 (11,461) 32,503 68,287 68,287 65,642 2,645 68,287	2020 Total funds £ 36,249
				36,249 13,961 42,344
				56,305 (24,385)
				31,920
				68,169
				68,169
				64,141 4,028
				68,169

The financial statements were approved by the Board of Trustees on 24 November 2021 and were signed on its behalf by:

…...................................................................................... Mrs R A Edwards - Trustee

The notes form part of these financial statements

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

PARENT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Notes INCOME FROM Donations and legacies 2 Charitable activities 4 Income from charitable activities Other trading activities 3 Other income Total income EXPENDITURE ON Raising funds 5 Charitable activities 6 General Total expenditure NET INCOMING/(OUTGOING) RESOURCES Transfer between funds 16 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted funds £ 34,189 7,170 6,232 489 48,080 45,000 2,899 47,899 181 - 181 63,112 63,293	Restricted funds £ 1,000 - - - 1,000 333 2,050 2,383 (1,383) - (1,383) 4,028 2,645	2021 Total funds £ 35,189 7,170 6,232 489 49,080 45,333 4,949 50,282 (1,202) - (1,202) 67,140 65,938	2020 Total funds £ 26,642 5,950 5,660 -
				38,252 30,833 2,247
				33,080
				5,172 -
				5,172 61,968
				67,140

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

PARENT BALANCE SHEET AT 30 SEPTEMBER 2021

Unrestricted Funds £ 35,784 100	Restricted Funds £ - -	2020 Total funds £ 36,249 100
35,884 29,309 (287)	- - 2,645	36,349 26,241 19,789
29,022 (1,613)	2,645 -	46,030 (15,239)
27,409	2,645	30,791
63,293	2,645	67,140
63,293	2,645	67,140
		63,112 4,028
		67,140

The financial statements were approved by the Board of Trustees on 24 November 2021 and were signed on its behalf by:

…......................................................................................

Mrs R A Edwards - Trustee

The notes form part of these financial statements

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

1 ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit 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 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic 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.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

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 headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Allocation and apportionment of costs

Support costs are costs related to providing direct support to the charity. Governance costs are independant examiners fees and trustee meeting and insurance. Any such costs incurred during the year that are not directly attributable to the charitable activities of the organisation are allocated on the proportion of total direct costs required to support each activity.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Show Ground - nil Buildings - various Show equipment - 10% or 25% on cost Office equipment - 10% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2021

1 ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the

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 raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Basis of consolidation

The accounts of the group consolidate the results of the charity and its subsidiary undertaking, Isle of Wight County Show Limited which are made up to 30 September. The accounts are consolidated on a line by line basis.

2. DONATIONS AND LEGACIES

Donations Subscriptions Gift aid rebates Grants 3. OTHER TRADING ACTIVITIES Hire of show equipment and ground Gate entry fees Trade space Sponsorship Wightlink commission Miscellaneous income 4. INCOME FROM CHARITABLE ACTIVITIES Activity Wight Marque income General	Group Parent Group Parent 2021 2021 2020 2020 £ £ £ £ - - 509 509 14,862 14,862 13,323 13,323 2,754 2,754 2,410 2,410 17,573 17,573 10,400 10,400
	35,189 35,189 26,642 26,642
	Group Parent Group Parent 2021 2021 2020 2020 £ £ £ £ 6,232 6,232 5,660 5,660 6,112 - - - 2,300 - - - 2,150 - - - 4,148 - 2,179 - 97 - 409 -
	21,039 6,232 8,248 5,660
	Group Parent Group Parent 2021 2021 2020 2020 £ £ £ £ 7,170 7,170 5,950 5,950
	7,170 7,170 5,950 5,950

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2021

5. RAISING FUNDS

RAISING FUNDS General ground expenses Postage and telephone Office services Depreciation Events and marketing Trading activities: IOWCS	Group Parent Group Parent 2021 2021 2020 2020 £ £ £ £ 3,720 3,720 2,730 2,730 158 158 202 202 38,742 38,742 26,306 26,306 465 465 585 585 2,248 2,248 1,010 1,010 13,186 - 4,848 -
	58,519 45,333 35,681 30,833

6. CHARITABLE ACTIVITIES COSTS

Education grants Wight Marque expenses Accountancy Accountancy under/(over)provision Legal and professional Trustee insurance AGM expenses Bad debts	Group Parent Group Parent 2021 2021 2020 2020 £ £ £ £ 2,050 2,050 - - 975 975 - - 1,380 900 1,560 900 (180) - - - 151 151 157 157 523 523 679 679 350 350 511 511 - - 500 -
	5,249 4,949 3,407 2,247

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2021 nor for the year ended 30 September 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2021 nor for the year ended 30 September 2020.

8. STAFF COSTS

The charity and its subsidiary paid no employees during 2020 and 2021.

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2021

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES (GROUP)

Unrestricted funds £ 26,242 5,950 8,248	Restricted funds £ 400 - -	Total funds £ 26,642 5,950 8,248
40,440 35,348 3,407	400 333 -	40,840 35,681 3,407
38,755	333	39,088
1,685 -	67 -	1,752 -
1,685 62,456	67 3,961	1,752 66,417
64,141	4,028	68,169

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES CONTINUED (PARENT)

Unrestricted funds £ 26,242 5,950 5,660	Restricted funds £ 400 - -	Total funds £ 26,642 5,950 5,660
37,852 30,500 2,247	400 333 -	38,252 30,833 2,247
32,747	333	33,080
5,105 -	67 -	5,172 -
5,105 58,007	67 3,961	5,172 61,968
63,112	4,028	67,140

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2021

10. TANGIBLE FIXED ASSETS

Show Ground & buildings £ 38,178 -	Show equipment £ 61,087 -	Office equipment £ 7,594 -	Total £ 106,859 -
38,178	61,087	7,594	106,859
1,929 465	61,087 -	7,594 -	70,610 465
2,394	61,087	7,594	71,075
35,784	-	-	35,784
36,249	-	-	36,249

11. FIXED ASSET INVESTMENTS (PARENT ONLY)

Shares in group undertakings £ 100	Listed investments £ -	Total £ 100
100	-	100
100	-	100
100	-	100

There were no investment assets outside the UK.

The parent's investments at the balance sheet date in the share capital of companies include the following:

Isle of Wight County Show Ltd

Nature of business: Commercial events Registered office: Shide Meadow Centre, Shide Road, Newport, Isle of Wight, PO30 1HR

% Class of share: holding Ordinary 100 Aggregate capital and reserves Profit/(loss) for the year	2021 £ 2,449 1,321	2020 £ 1,128 (3,420)

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2021

12. TRADING RESULTS OF SUBSIDIARIES

Income Gate Trade space Sponsorship Wightlink tickets Miscellaneous income Cost of sales Hire of equipment Insurance Print and stationery Marketing and website Health and safety Traffic management Licences Volunteer costs Entertainment Ground preparation GROSS PROFIT Admin Expenditure Sundry expenses Accountancy Accountancy under/(over)provision Bank charges Bad debts NET PROFIT	2021 2020 £ £ 6,112 - 2,300 - 2,150 - 4,148 2,179 97 409 14,807 2,588 4,898 - 3,421 3,066 936 207 879 1,393 665 - 240 - 81 70 600 - 980 - 401 82 13,101 4,818 1,706 (2,230) 67 - 480 660 (180) - 18 30 - 500 385 1,190 1,321 (3,420) IOW County Show Ltd	2021 2020 £ £ 6,112 - 2,300 - 2,150 - 4,148 2,179 97 409 14,807 2,588 4,898 - 3,421 3,066 936 207 879 1,393 665 - 240 - 81 70 600 - 980 - 401 82 13,101 4,818 1,706 (2,230) 67 - 480 660 (180) - 18 30 - 500 385 1,190 1,321 (3,420) IOW County Show Ltd
		2,588 - 3,066 207 1,393 - - 70 - - 82
		4,818
		(2,230) - 660 - 30 500
		1,190
		(3,420)

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2021

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Amounts owed by group undertakings Trade debtors Other debtors	2021 £ Group - 6,353 6,392 12,745	2021 £ Parent 25,190 - 4,119 29,309	2020 £ Group - 4,691 9,270 13,961	2020 £ Parent 19,297 - 6,944
				26,241

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors Other creditors	2021 £ Group 713 10,748 11,461	2021 £ Parent 713 900 1,613	2020 £ Group 13,769 10,616 24,385	2020 £ Parent 13,769 1,470
				15,239

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2021

15. MOVEMENT IN FUNDS

At 1.10.20 £ 63,112 1,028	Net movement in funds £ 181 1,321	Transfers between funds £ - -	At 30.09.21 £ 63,293 2,349
64,140 1,670 - 350 2,008	1,502 (333) - - (1,050)	- - - - -	65,642 1,337 - 350 958
4,028	(1,383)	-	2,645
68,168	119	-	68,287
67,140	(1,202)	-	65,938

Net movement in funds, included in the above are as follows:

Incoming resources £ 48,080 14,807	Resources expended £ (47,899) (13,486)	Gains and losses £ - -	Movement in funds £ 181 1,321
62,887 - - - 1,000	(61,385) (333) - - (2,050)	- - - - -	1,502 (333) - - (1,050)
1,000	(2,383)	-	(1,383)
63,887	(63,768)	-	119
49,080	(50,282)	-	(1,202)

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2021

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.10.19 £ 58,007 4,449	Net movement in funds £ 5,105 (3,421)	Transfers between funds £ - -	At 30.09.20 £ 63,112 1,028
62,456 2,003 - 350 1,608	1,684 (333) - - 400	- - - - -	64,140 1,670 - 350 2,008
3,961	67	-	4,028
66,417	1,751	-	68,168
61,968	5,172	-	67,140
		Gains and losses £ - -	Movement in funds £ 5,105 (3,421)
40,440 - - - 400	(38,756) (333) - - -	- - -	1,684 (333) - - 400
400	(333)	-	67
40,840	(39,089)	-	1,751
38,252	(33,080)	-	5,172

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2021

15. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

At 1.10.19 £ 58,007 4,449	Net movement in funds £ 5,286 (2,100)	Transfers between funds £ - - -	At 30.09.21 £ 63,293 2,349
62,456 2,003 - 350 1,608	3,186 (666) - - (650)	- - - - -	65,642 1,337 - 350 958
3,961	(1,316)	-	2,645
66,417	1,870	-	68,287
61,968	3,970	-	65,938

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming resources £ 85,932 17,395	Resources expended £ (80,646) (19,495)	Gains and losses £ - -	Movement in funds £ 5,286 (2,100)
103,327 - - - 1,400	(100,141) (666) - - (2,050)	- - - - -	3,186 (666) - - (650)
1,400	(2,716)	-	(1,316)
104,727	(102,857)	-	1,870
87,332	(83,362)	-	3,970

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THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2021

16. MOVEMENT IN FUNDS - continued

Unrestricted funds

The charity's general funds consist of funds which the trustees are free to use in accordance with the charitable objects.

Restricted funds

Leader Grant - the represents a grant awarded help fund improvements to the County Showground and the creation of marketing material of the Society.

Wight Aid - this represents a grant received to support travel costs incurred by schools attending the Society's Education Day.

Rural Careers Fund - this replaced the bursary donation fund and represents donations provided by third parties to support the award of scholarships and bursaries under the Rural Careers Fund.

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