REGISTERED CHARITY NUMBER: 249519
## REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
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 2022
||Page||
|---|---|---|
|Report of the Trustees|1 to|5|
|Independent Examiner's Report|6||
|Consolidated Statement of Financial Activities|7||
|Consolidated Balance Sheet|8||
|Parent Statement of Financial Activities|9||
|Parent Balance Sheet|10||
|Notes to the Financial Statements|11 to|21|
ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022
The trustees present their report with the financial statements of the charity for the year ended 30 September 2022. 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 and skills development 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, holding an annual show, provide financial support for individuals undertaking education and personal development activities, and supporting the local food sector. The Royal Isle of Wight County Show returned after a two-year break.
## 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 ninth year offering both Scholarships and Bursaries. Wight Marque continued its support for the Island's food and drink sector.
## 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 a further application may be made.
## ACHIEVEMENT AND PERFORMANCE
## Principle activities for the year
After an enforced two year break due to the Pandemic, both the Royal Isle of Wight County Show and the annual Education Day returned with great success. Scholarships and bursaries continued to be awarded from the Rural Careers Fund.
In addition to its Executive Committee the Society now has four sub committees:
- County Show
- Rural Careers Fund
- Wight Marquee
- Strategy
Page 1
ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022
## FINANCIAL REVIEW
## Review of performance for the year
After a two-year Covid-19 enforced break, the Royal Isle of Wight County Show returned on 25th and 26th June 2022.
In the lead up to the show there was an air of cautious optimism as no one really knew how people would respond. It was to be one of the first community events to take place on the Island after the lifting of the Covid-19 restrictions. However, it was soon apparent the show had been missed.
Running for its 121st year, the royal status of the show was in full force with the central theme being Her Majesty's Platinum Jubilee. The Village Green hosted a giant Jubilee picnic in celebration. It was an honour and very important that we celebrated our royal connection, and that both young and older generations could come together in the fun filled activities.
Support for local businesses is an important aspect throughout the show, with the Society's Wight Marque products
on sale in the Food Pavilion, which are either made, grown, or manufactured on the Island. We also showed off the Island's variety of attractions and activities in our new for 2022 Visit IW tourism marquee, and even born and bred islanders were informed of some of our local hidden gems. Our more artistic residents displayed their skills and fantastic creations in the Island Arts and Makers Market marquees, which was hard to miss for the bright colours and vibrant displays.
There was never a dull moment during the show, with all the senses being engaged. Seeing the animals, through the falconry displays, equine events,
and Main Ring activities. Hearing the bands, fairground, and orchestra of animal noises. Smelling fresh air, food, and tractor engines. Touching the sheep, pigs, calves, goats, and alpacas. And tasting the variety of local produce and food stalls.
After having to cancel the show for 2 years, it was great to have our loyal stands, traders and events come back, and also to have many new faces join us. People were enthusiastic and happy to be back, and the show gave people confidence to host events again.
Family is often an important aspect to rural life, which we like to reflect at the County Show. Under 16s go free, to make it more family inclusive, and in our show guide we also had activities for children to get them interacting with the show and to help keep them entertained. Our Show Theatre also hosted a debate which gave primary school children the opportunity to talk about things that they are
passionate about in a different environment to the classroom. Our local 'Young Farmers Club' stand was great for getting young people involved, with digger driving and wellie wanging, and to show that you don't have to come from a farming background to be interested in rural life.
The Royal Isle of Wight County Show represents the Isle of Wight and aims to celebrate our beautifully rural island. The Grade Parade is a proud moment, when the trophy and rosette winners gather in the Main Ring, and you really get to see the best of the island's farming community. The show is an important celebration of our rural community and brings people together in different ways.
Page 2
ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022
## FINANCIAL REVIEW
Review of performance for the year (continued)
Alongside the important role the County Show plays to support the rural economy, surpluses from the show are used to fund the Rural Careers Fund, to help young people to develop their careers and role on the Island. In line with the County Show, the Society's Education Day returned in 2022 after a 2-year break. Over 400 primary school children from 12 schools attended and were delighted to be joined by the Earl and Countess of Wessex and our President the Island's Lord Lieutenant.
The Royal party joined the children as they visited the various areas and took part in a range of activities, all of which represented aspects of the County Show. A highlight of the visit was their participation in the Food Pavilion's pizza topping competition, where the children had to design and create a pizza, which was then baked for them to take home.
The Education Day is a special event in the calendar where the children can actively get involved with all the areas of the County Show in a fun and informative way. The levels of excitement, interest and sheer enjoyment are compelling and great thanks go to all the Area Leads who once again gave up so much of their time to allow the Education Day to take place.
Page 3
ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022
## FINANCIAL REVIEW
## Financial review
The income for the County Show Limited was up on the previous year at £132,697 (2021 - £14,807) thanks to being able to hold the main event after a 2 year break. Expenditure in total was also up this year at £97,200 (2021 - £13,486). The result of this led to a profit for the year of £35,497 (2021 - £1,321). All profits of the subsidiary are donated to the parent charity.
The Charity's income for the year was £80,005 (2021 - £49,080) and expenditure was £39,762 (2021 - £50,282). The Charity reported a total surplus for the year of £40,243 (2021 - deficit of £1,202).
The overall consolidated surplus for the year was £42,359 (2021 - £119).
## Reserves policy
As part of the Executive Committee's 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 4
ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022
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 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 ............................................. and signed on its behalf by:
........................................................................ Mrs R A Edwards - Trustee
Page 5
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 2022.
## 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 6
THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
## CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022
|Royal Isle of Wight
Agricultural Society
Unrestricted
Restricted
funds
funds
Notes
£
£
INCOME FROM
Donations and legacies
2
25,578
3,510
Charitable activities
4
Income from charitable activities
3,500
-
Other trading activities
3
14,036
-
Other income
-
-
Total income
43,114
3,510
EXPENDITURE ON
Raising funds
5
17,880
333
Charitable activities
6
General
20,209
1,340
Total expenditure
38,089
1,673
NET INCOMING/(OUTGOING) RESOURCES
5,025
1,837
Transfer between funds
16
33,381
-
Net movement in funds
38,406
1,837
RECONCILIATION OF FUNDS
Total funds brought forward
63,293
2,645
TOTAL FUNDS CARRIED FORWARD
101,699
4,482|IW County
Show Ltd
Unrestricted
funds
£
-
-
132,697
-
132,697
96,492
708
97,200
35,497
(33,381)
2,116
2,349
4,465|2022
Total
funds
£
29,088
3,500
146,733
-
179,321
114,705
22,257
136,962
42,359
-
42,359
68,287
110,646|2021
Total
funds
£
35,189
7,170
21,039
489|
|---|---|---|---|
||||63,887
58,519
5,249|
||||63,768|
||||119
-|
||||119
68,168|
||||68,287|
## CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 7
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
£
35,319
35,319
9,608
67,123
76,731
(5,886)
70,845
106,164
106,164|Restricted
Funds
£
-
-
-
4,482
4,482
-
4,482
4,482
4,482|2022
Total funds
£
35,319
35,319
9,608
71,605
81,213
(5,886)
75,327
110,646
110,646
106,164
4,482
110,646|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|
The financial statements were approved by the Board of Trustees on …...................................and were signed on its behalf by:
…...................................................................................... Mrs R A Edwards - Trustee
The notes form part of these financial statements
Page 8
THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
## PARENT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022
|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
£
58,959
3,500
14,036
-
76,495
17,880
20,209
38,089
38,406
-
38,406
63,293
101,699|Restricted
funds
£
3,510
-
-
-
3,510
333
1,340
1,673
1,837
-
1,837
2,645
4,482|2022
Total
funds
£
62,469
3,500
14,036
-
80,005
18,213
21,549
39,762
40,243
-
40,243
65,938
106,181|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|
## CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 9
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
£
35,319
100|Restricted
Funds
£
-
-|2022
Total funds
£
35,319
100
35,419
59,772
14,649
74,421
(3,659)
70,762
106,181
106,181
101,699
4,482
106,181|2021
Total funds
£
35,784
100|
|---|---|---|---|---|
||35,419
59,772
10,167|-
-
4,482||35,884
29,309
2,358|
||69,939
(3,659)|4,482
-||31,667
(1,613)|
||66,280|4,482||30,054|
||101,699|4,482||65,938|
||101,699|4,482||65,938|
|||||63,293
2,645|
|||||65,938|
The financial statements were approved by the Board of Trustees on …...................................and were signed on its behalf by:
…......................................................................................
Mrs R A Edwards - Trustee
The notes form part of these financial statements
Page 10
THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
## 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 independent 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 11
THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2022
## 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
|2. DONATIONS AND LEGACIES||
|---|---|
|Donations
Subscriptions
Gift aid rebates
Grants
Donated from County Show
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
2022
2022
2021
2021
£
£
£
£
605
605
-
-
14,130
14,130
14,862
14,862
2,630
2,630
2,754
2,754
11,723
11,723
17,573
17,573
-
33,381
-
-|
||29,088
62,469
35,189
35,189|
||Group
Parent
Group
Parent
2022
2022
2021
2021
£
£
£
£
14,036
14,036
6,232
6,232
72,867
-
6,112
-
14,968
-
2,300
-
29,130
-
2,150
-
3,966
-
4,148
-
5,180
-
97
-|
||146,733
14,036
21,039
6,232|
||Group
Parent
Group
Parent
2022
2022
2021
2021
£
£
£
£
3,500
3,500
7,170
7,170|
||3,500
3,500
7,170
7,170|
Page 12
THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2022
## 5. RAISING FUNDS
|||
|---|---|
|RAISING FUNDS
General ground expenses
Postage and telephone
Office services
Depreciation
Events and marketing
Trading activities: IOWCS|Group
Parent
Group
Parent
2022
2022
2021
2021
£
£
£
£
3,037
3,037
3,720
3,720
329
329
158
158
13,688
13,688
38,742
38,742
465
465
465
465
694
694
2,248
2,248
96,492
-
13,186
-|
||114,705
18,213
58,519
45,333|
## 6. CHARITABLE ACTIVITIES COSTS
|Grants
Wight Marque expenses
Accountancy
Accountancy under/(over)provision
Legal and professional
Trustee insurance
AGM expenses|Group
Parent
Group
Parent
2022
2022
2021
2021
£
£
£
£
12,081
12,081
2,050
2,050
-
-
975
975
2,034
1,326
1,380
900
-
-
(180)
-
443
443
151
151
986
986
523
523
291
291
350
350|
|---|---|
||22,257
21,549
5,249
4,949|
## 7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2022 nor for the year ended 30 September 2021.
## Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2022 nor for the year ended 30 September 2021.
## 8. STAFF COSTS
The charity and its subsidiary paid no employees during 2021 and 2022.
Page 13
THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2022
## 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES (GROUP)
|Unrestricted funds
INCOME FROM
£
Donations and legacies
34,189
Charitable activities
Income from charitable activities
7,170
Other trading activities
21,039
Other income
489
Total income
62,887
EXPENDITURE ON
Raising funds
58,186
Charitable activities
General
3,199
Total expenditure
61,385
NET INCOMING/(OUTGOING) RESOURCES
1,502
Transfers between funds
-
Net movement in funds
1,502
RECONCILIATION OF FUNDS
Total funds brought forward
64,140
TOTAL FUNDS CARRIED FORWARD
65,642
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES CONTINUED
Unrestricted funds
INCOME FROM
£
Donations and legacies
34,189
Charitable activities
Income from charitable activities
7,170
Other trading activities
6,232
Other income
489
Total income
48,080
EXPENDITURE ON
Raising funds
45,000
Charitable activities
General
2,899
Total expenditure
47,899
NET INCOMING/(OUTGOING) RESOURCES
181
Transfers between funds
-
Net movement in funds
181
RECONCILIATION OF FUNDS
Total funds brought forward
63,112
TOTAL FUNDS CARRIED FORWARD
63,293|Unrestricted funds
£
34,189
7,170
21,039
489|Restricted funds
£
1,000
-
-
-|Total funds
£
35,189
7,170
21,039
489|
|---|---|---|---|
||62,887
58,186
3,199|1,000
333
2,050|63,887
58,519
5,249|
||61,385|2,383|63,768|
||1,502
-|(1,383)
-|119
-|
||1,502
64,140|(1,383)
4,028|119
68,168|
||65,642|2,645|68,287|
|||(PARENT)
Restricted funds
£
1,000
-
-
-|Total funds
£
35,189
7,170
6,232
489|
||48,080
45,000
2,899|1,000
333
2,050|49,080
45,333
4,949|
||47,899|2,383|50,282|
||181
-|(1,383)
-|(1,202)
-|
||181
63,112|(1,383)
4,028|(1,202)
67,140|
||63,293|2,645|65,938|
## 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES CONTINUED (PARENT)
Page 14
THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
## NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2022
|10. TANGIBLE FIXED ASSETS (PARENT AND
COST
At 1 October 2021
Additions
At 30 September 2022
DEPRECIATION
At 1 October 2021
Charge for year
At 30 September 2022
NET BOOK VALUE
At 30 September 2022
At 30 September 2021|GROUP)
Show Ground
& buildings
£
38,178
-|Show
equipment
£
61,087
-|Office
equipment
£
7,594
-|Total
£
106,859
-|
|---|---|---|---|---|
||38,178|61,087|7,594|106,859|
||2,394
465|61,087
-|7,594
-|71,075
465|
||2,859|61,087|7,594|71,540|
||35,319|-|-|35,319|
||35,784|-|-|35,784|
## 11. FIXED ASSET INVESTMENTS (PARENT ONLY)
|MARKET VALUE
At 1 October 2021
At 30 September 2022
NET BOOK VALUE
At 30 September 2022
At 30 September 2021|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|2022
£
4,563
35,497|2021
£
2,449
1,321|
|---|---|---|
Page 15
THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2022
## 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
Equipment
Office costs
Entertainment
Ground preparation
GROSS PROFIT
Admin Expenditure
Sundry expenses
Accountancy
Accountancy under/(over)provision
Bank charges
NET PROFIT|2022
2021
£
£
72,867
6,112
14,968
2,300
29,130
2,150
3,966
4,148
5,180
97
132,697
14,807
29,079
4,898
2,888
3,421
2,520
936
8,899
879
1,949
665
1,920
240
278
81
1,845
600
527
-
20,995
-
12,169
980
2,891
401
91,737
13,101
40,960
1,706
4,722
67
708
480
-
(180)
33
18
5,463
385
35,497
1,321
IOW County Show Ltd|2022
2021
£
£
72,867
6,112
14,968
2,300
29,130
2,150
3,966
4,148
5,180
97
132,697
14,807
29,079
4,898
2,888
3,421
2,520
936
8,899
879
1,949
665
1,920
240
278
81
1,845
600
527
-
20,995
-
12,169
980
2,891
401
91,737
13,101
40,960
1,706
4,722
67
708
480
-
(180)
33
18
5,463
385
35,497
1,321
IOW County Show Ltd|
|---|---|---|
|||14,807
4,898
3,421
936
879
665
240
81
600
-
-
980
401|
|||13,101|
|||1,706
67
480
(180)
18|
|||385|
|||1,321|
Page 16
THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2022
## 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|Amounts owed by group undertakings
Trade debtors
Other debtors|2022
£
Group
-
7,168
2,440
9,608|2022
£
Parent
59,179
-
593
59,772|2021
£
Group
-
6,353
6,392
12,745|2021
£
Parent
25,190
-
4,119|
|---|---|---|---|---|
|||||29,309|
## 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|Trade creditors
Other creditors|2022
£
Group
2,711
3,175
5,886|2022
£
Parent
2,711
948
3,659|2021
£
Group
713
10,748
11,461|2021
£
Parent
713
900|
|---|---|---|---|---|
|||||1,613|
Page 17
THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2022
## 15. MOVEMENT IN FUNDS
|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 1.10.21
£
63,293
2,349|Net
movement
in funds
£
5,025
35,497|Transfers
between
funds
£
33,381
(33,381)|At 30.09.22
£
101,699
4,465|
||65,642
1,337
-
350
958|40,522
(333)
-
(350)
2,520|-
-
-
-
-|106,164
1,004
-
-
3,478|
||2,645|1,837|-|4,482|
||68,287|42,359|-|110,646|
||65,938|40,243|-|106,181|
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
£
43,114
132,697|Resources
expended
£
(38,089)
(97,200)|Gains and
losses
£
-
-|Movement
in funds
£
5,025
35,497|
|---|---|---|---|---|
||175,811
-
-
-
3,510|(135,289)
(333)
-
(350)
(990)|-
-
-
-
-|40,522
(333)
-
(350)
2,520|
||3,510|(1,673)|-|1,837|
||179,321|(136,962)|-|42,359|
||80,005|(39,762)|-|40,243|
Page 18
THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2022
## 15. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
|Comparatives for 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|
Comparative 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 19
THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2022
## 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 1.10.20
£
63,112
1,028|Net
movement
in funds
£
5,206
36,818|Transfers
between
funds
£
33,381
-
(33,381)|At 30.09.22
£
101,699
4,465|
|---|---|---|---|---|
||64,140
1,670
-
350
2,008|42,024
(666)
-
(350)
1,470|-
-
-
-
-|106,164
1,004
-
-
3,478|
||4,028|454|-|4,482|
||68,168|42,478|-|110,646|
||67,140|39,041|-|106,181|
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
£
91,194
147,504|Resources
expended
£
(85,988)
(110,686)|Gains and
losses
£
-
-|Movement
in funds
£
5,206
36,818|
|---|---|---|---|---|
||238,698
-
-
-
4,510|(196,674)
(666)
-
(350)
(3,040)|-
-
-
-
-|42,024
(666)
-
(350)
1,470|
||4,510|(4,056)|-|454|
||243,208|(200,730)|-|42,478|
||129,085|(90,044)|-|39,041|
Page 20
THE ROYAL ISLE OF WIGHT AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2022
## 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.
## Transfers between funds
The fund transfers showing in the accounts are standard consolidation transactions required to correct the group position at the year end.
Page 21