**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. Page 2 **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 Page 3 **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: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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: ............................................. Page 5 **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 Page 6 **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 Page 7 **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 Page 8 **THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY** ## **PARENT BALANCE SHEET AT 30 SEPTEMBER 2021** |Notes
**FIXED ASSETS**
Tangible assets
10
Investments
11
**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
100|Restricted
Funds
£
-
-|2021
Total funds
£
35,784
100
35,884
29,309
2,358
31,667
(1,613)
30,054
65,938
65,938
63,293
2,645
65,938|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 Page 9 **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. Page 10 **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| Page 11 **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. Page 12 **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)** |**INCOME FROM**
Donations and legacies
**Charitable activities**
Income from charitable activities
Other trading activities
**Total income**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
General
**Total expenditure**
**NET INCOMING/(OUTGOING) RESOURCES**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|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)** |**INCOME FROM**
Donations and legacies
**Charitable activities**
Income from charitable activities
Other trading activities
**Total income**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
General
**Total expenditure**
**NET INCOMING/(OUTGOING) RESOURCES**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|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| Page 13 **THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2021** ## **10. TANGIBLE FIXED ASSETS** |**COST**
At 1 October 2020
Additions
At 30 September 2021
**DEPRECIATION**
At 1 October 2020
Charge for year
At 30 September 2021
**NET BOOK VALUE**
At 30 September 2021
At 30 September 2020|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)** |**MARKET VALUE**
At 1 October 2020
At 30 September 2021
**NET BOOK VALUE**
At 30 September 2021
At 30 September 2020|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)| |---|---|---| Page 14 **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)| Page 15 **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| Page 16 **THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY** ## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2021** ## **15. MOVEMENT IN FUNDS** |**Unrestricted company funds**
General fund
**Unrestricted subsidiary funds**
IOW County Show Limited general fund
**Restricted funds**
Leader grant
Bursary donation
Wight Aid
Rural Careers Fund
**TOTAL GROUP FUNDS**
**TOTAL PARENT 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: |**Unrestricted company funds**
General fund
**Unrestricted subsidiary funds**
IOW County Show Limited general fund
**Restricted funds**
Leader grant
Bursary donation
Wight Aid
Rural Careers Fund
**TOTAL GROUP FUNDS**
**TOTAL PARENT FUNDS**|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)| Page 17 **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 |Net
movement
At 1.10.19
in funds
£
£
**Unrestricted company funds**
General fund
58,007
5,105
**Unrestricted subsidiary funds**
IOW County Show Limited general fund
4,449
(3,421)
62,456
1,684
**Restricted funds**
Leader grant
2,003
(333)
Bursary donation
-
-
Wight Aid
350
-
Rural Careers Fund
1,608
400
3,961
67
**TOTAL GROUP FUNDS**
66,417
1,751
**TOTAL PARENT FUNDS**
61,968
5,172
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted company funds**
General fund
37,852
(32,747)
**Unrestricted subsidiary funds**
IOW County Show Limited general fund
2,588
(6,009)
40,440
(38,756)
**Restricted funds**
Leader grant
-
(333)
Bursary donation
-
-
Wight Aid
-
-
Rural Careers Fund
400
-
400
(333)
**TOTAL GROUP FUNDS**
40,840
(39,089)
**TOTAL PARENT FUNDS**
38,252
(33,080)|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| Page 18 **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: |**Unrestricted company funds**
General fund
**Unrestricted subsidiary funds**
IOW County Show Limited general fund
**Restricted funds**
Leader grant
Bursary donation
Wight Aid
Rural Careers Fund
**TOTAL GROUP FUNDS**
**TOTAL COMPANY FUNDS**|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: |**Unrestricted company funds**
General fund
**Unrestricted subsidiary funds**
IOW County Show Limited general fund
**Restricted funds**
Leader grant
Bursary donation
Wight Aid
Rural Careers Fund
**TOTAL GROUP FUNDS**
**TOTAL COMPANY FUNDS**|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| Page 19 **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. Page 20