2021-09-30-accounts

		Page
Council Members		1-2
Report ofthe Council		3-8
Auditors' Report		9-11
Statement of Financial	Activities	12
Balance Sheet		13
Statement ofCash Flows		14
Notes to the Accounts		15-26

FO	R TH	E YEAR	ENDED 30TH	SEPTEMBE	R 2021
			General	Restricted	Total Funds	Total
		Note	Fund	Funds	2021	2020
INCOME AND ENDOWMENTS		FROM:
Charitable activities
Show income Annual member's subscriptions Life member's subscriptions			4,482 13,584		4,482 13,584	29,523 49,415 13,633
			18,066		18,066	92,571
Other trading activities 2 Investments 3 Coronavirus Job Retention Scheme Other coronavirus support grants			433,499 31,579 176,032 61,714		433,499 31,579 176,032 61,714	176,093 35,360 122,423
Total			720,890		720,890	426,447
EXPENDITURE ON:
Raising funds Investment management	costs		82,469 9,970		82,469 9,970	67,080 9,068
			92,439		92,439	76,148
Charitable activities
Show expenditure Costs in support ofthe show		6 7	219,214 522,715	538	219,214 523,253	285,596 603,786
Primary purpose donations			1,000		1,000	1,000
			742,929	538	743,467	890,382
Total			835,368	538	835,906	966,530
Net gain/(loss) on investments			340,285		340,285	(5,259)
Net income/(expenditure)			225,807	(538)	225,269	(545,342)
Reconciliation offunds:
Fund balances brought forward
at 1st October 2020			4,621,212	12,445	4,633,657	5,178,999
Fund balances carried forward		at
30th September 2021			4,847,019	11,907	4,858,926	4,633,657

						2021		2020
					Note	E
Fixed Assets
Tangible Assets Investments					10 11	2,802,965 2,039,117		2,942,134 1,709,230
Current Assets						4,842,082		4,651,364
Stocks Debtors Cash at bank and		in	hand		12	8,880 150095 728,274	8,894 79,540 711,858
Creditors:	amounts		falling	due		887,249	800,292
within one	year				13	(619,137)	(610,660)
Net Current	Assets					26&,112		189,632
Total Assets less		Current		Liabilities		5,110,194		4,840,996
Creditors:	amounts		falling	due after
more than	one year				14	(251,268)		(207,339)
Net Assets						4,858,926		4,633,657
Funds
Unrestricted	fund:
General fund Restricted funds					17	4,847,019 11,907		4,621,212 12,445
Total funds					19	4,858,926		4,633,657

FOR THE YE	A	R ENDED 30	SEPTEMBER2021
			2021	2020
	Note
Net income/(expenditure) for the reporting		period
per the statement offinancial activities			225,269	(545,342)
Adjustments for:
Depreciation charges			148,099	155,408
(Profit)/loss on investments (Profit) on the sale offixed assets Decrease/(Increase) in stocks (Increase)!Decrease in debtors (Decrease)/Increase in creditors			(340,285) 14 (70,555) (24,115)	5,259 (5,900) (6,939) 12,565 532,699
Net cash (used in)/provided by operating		activities	(61,573)	147,750
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment Purchase of property, plant and equipment Proceeds from sale of investments Purchase of investments			(8,930) 15,818 (5,420)	15,000 (156,202) 116,143 (52,865)
Net cash provided by/(used in) investing	activities		1,468	(77,924)
Cash flows from financing activities:
New borrowings			90,000
Repayments of borrowing			(13,479)	(15,116)
Net cash provided by/(used in) financing	activities		76,521	(15,116)
Change in cash and cash equivalents in	the rep. period		16,416	54,710
Cash and cash equivalents at the beginning		ofthe reporting
penod			711,858	657,148
Cash and cash equivalents at the end of	the rep. period		728,274	711,858
Analysis ofcash and cash equivalents
Cash at bank or in hand Notice deposits (less than 3 months)			362,860 365,414	696,494 15,364
Total cash and cash equivalents			728,274	711,858

2.	OTHER TRADING ACTIVITIES	OTHER TRADING ACTIVITIES	OTHER TRADING ACTIVITIES
				2021			2020
			Gross	Related	Net	Gross	Related	Net
			Income	Expenditure	Income	Income	Expenditure	Income
			E			E	E
	Site lettings Pavilion centre lettings Agricultural activities		360,156 27,334 17,419	(29,828) (52,627)	330,328 (25,293) 17,419	73,410 62,025 17,286	(67,069)	73,410 (5,044) 17,286
	Other income		28,590	(14)	28,576	23,372		23,361
			433,499	(82,469)	351,030	176,093	(67,080)	109,013
3.	INVESTMENTS
							2021	2020
								E
	Interest received						51	1,352
	Income from listed investments						31,528	34,008
							31,579	35,360
4.	SHOW INCOME
							2021	2020
							E	E
	Trade stands Show entry fees Catalogues and refreshment		rights				1,417	16,220 (60) 250
	Prize money donations	and	sponsorship				3,065	13,113
							4,482	29,523
5.	LIFE MEMBERS' SUBSCRIPTIONS
							2021	2020
							E
	Received in year						3,506	10,517
	Deferred to future years						(3,331)	(9,991)
	Utilised from previous	years					13,409	13,107
							13,584	13,633

				2021	2020
				E
Preparation of showground Fees and expenses ofjudges and stewards				177,741 538	227,479 1,642
Monetary awards Special attractions and	displays			125	(939) 2,400
Catering				321	752
Marketing and promotion				40,489	54,262
				219,214	285,596
COSTS IN SUPPORT	OF	THE SHOW
				2021	2020
				E	E
Office salaries				227,409	244,074
Travel and motor expenses				25,441	32,513
Printing and stationery				5,112	10,083
Telephone and postage				3,453	14,870
Rent and rates				20,498	28,317
Lighting and heating				27,031	33,967
Insurances				16,605	24,956
Legal and professional charges Bank charges and interest				4,054 3,079	3,154 5,869
Education				15,067	24,594
Subscriptions Badges and rosettes Depreciation (including	2538(2020 —f538)charged to			1,626 689	5,804 1,000
the restricted funds)				148,099	155,408
Profit on disposal offixed assets Governance costs (see note 8)				25,090	(5,900) 25,077
				523,253	603,786
GOVERNANCE COSTS
				2021	2020
					E
Insurances				1,316	1,441
Auditors' remuneration Auditors' fees for non-audit		services (i.e.accountancy	etc.)	4,433 19,341	4,319 19,317
				25,090	25,077

9.	STAFF	COSTS AND REMUNERATION	COSTS AND REMUNERATION	COSTS AND REMUNERATION	OF KEY MANAGEMENT	PERSONNEL
						2021	2020
	The aggregate		staff costs during	the year were:
	Salaries	and wages				354,592	390,921
	Social security		costs			28,618	31,957
	Other pension		costs			24,852	26,313
						408,062	449,191
	Average	number ofemployees		(full time	and part time headcount)
	Clerical					13	14
	Showground
	Pavilion	lettings
						18	20

		Expenditure		Machinery
	Freehold Properties	on Showg round	Pavilion	and Equipment	Motor Vehicles	Cups and Trophies	Total
COST
At 30September 2020	787,741	3,446,249	1,941,437	555,664	11,246	3,400	6,745,737
Additions Disposals		7,714		1,100		116	8,930
At 30September 2021	787,741	3,453,963	1,941,437	556,764	11,246	3,516	6,754,667
DEPRECIATION
At 30September 2020	85,526	2,612,609	683,652	412,447	9,369		3,803,603
Charge for year	8,573	57,613	55,470	25,975	468		148,099
Eliminated on
disposals
At 30September 2021	94,099	2,670,222	739,122	438,422	9,837		3,951,702
NET BOOK
VALUE
At 30 September 2020	702,215	833,640	1,257,785	143,217	1,877	3,400	2,942,134
At 30September 2021	693,642	783,741	1,202,315	118,342	1,409	3,516	2,802,965

11.	INVESTMENTS
					2021	2020
	Quoted Investments				E
	Market value at start of year				1,709,230	1,777,768
	Additions at cost				5,420	52,865
	Disposals at cost Net unrealised investment gain/(loss)				(13,600) 338,067	(119,354) (2,049)
	Market value at end ofyear				2,039,117	1,709,230
	Historical cost at end ofyear				1,242,186	1,250,366
	Anal sis of Quoted Investments
	At the balance sheet date, the	portfolio was invested as follows
	UK equity shares				453,009	369,130
	UK fixed interest bonds and deposits				205,078	213,698
	Overseas equity shares Overseas fixed interest				1,142,236 30,426	903,301 30,601
	UK property funds				44,946	41,660
	Absolute return				163,422	150,840
					2,039,117	1,709,230
	At 30September 2021 the following market value		investments	represent	more than 5 per cent of	the portfolio	by
	750 I Shares —S8P Midcap 400 12,500 Foreign 8 Colonial Inv Tst pic 25p ords 25,000 Ishares FTSE 100 13,500 Monks Inv Trust Ord GBP0.05 47,000 Blackrock Fund Managers 11,000 Scottish Mortgage Inv Trust				146,419 107,500 173,150 187,650 140,930 157,080	107,526 85,374 143,974 151,740 111,436 109,010
	Other investments individually	representing
	less than 5% ofthe total value				1,126,388	1,000,170
					2,039,117	1,709,230
12.	DEBTORS
					2021	2020
					E	F
	Trade debtors				107,048	33,607
	Other debtors				7,490	15,335
	Prepayments and accrued income				35,557	30,598
					150,095	79,540

13.	CREDIT	ORS: Amounts	falling due within one year
				2021	2020
				F	F
	Bank loans			36,564	14,000
	Trade creditors			20,076	25,562
	Other tax	and social security		95,369	95,394
	Accruals			27,593	26,774
	Deferred	income		439,535	448,930
				619,137	610,660
14.	CREDITORS: Amounts		falling due after more than one year
				2021	2020
				E	F
	Deferred	income		121,157	131,185
	Bank loans			130,111	76,154
				251,268	207,339

						2021	2020
						F	E
Balance	at 1 October					580,115	161,972
Amount Deferred	released amounts	to income refunded	earned in the	from charitable year	activities	(37,167) (32,529)	(27,354)
Amount	deferred	in the year				50,273	445,497
Balance	at 30September					560,692	580,115

2021					Balance		Expenditure	Balance
				30th	September	Income	gains, losses	30th September
					2020		and transfers	2021
Development		fund			10,296			10,296
Superfast	Cornwall		fund		2,149		538	1,611
					12,445		538	11,907
2021					Balance		Expenditure	Balance
				30th	September 2019	Income	gains, losses and transfers	30th September 2020
Development		fund			10,296			10,296
Superfast	Cornwall		fund		2,687		538	2,149
					12,983		538	12,445

			At 01/10/2020	Cash flows	At 30/09/2021
Cash	at bank and	in hand	711,858	16,416	728,274
Loans	falling due	within one year	(14,000)	(22,564)	(36,564)
Loans	falling due	after one year	(76,154)	(53,957)	(130,111)
Total			621,704	(60,105)	561,599

2021	Unrestricted	Restricted	Designated	Total
	funds	funds	fund	funds
Fund balances of30th September 2021 are
represented by:
Tangible fixed assets	2,791,058	11,907	2,802,965
Investments	2,039,117		2,039,117
Net current assets	268,112			268,112
Creditors due after more than one year	(251,268)			(251,268)
Total net assets	4,847,019	11,907	4,858,926
2020	Unrestricted	Restricted	Designated	Total
	funds	funds	fund	funds
Fund balances of30th September 2020 are
represented by:
Tangible fixed assets	2,929,689	12,445	2,942,134
Investments	1,709,230		1,709,230
Net current assets	189,632			189,632
Creditors due after more than one year	(207,339)			(207,339)
Total net assets	4,621,212	12,445	4,633,657

At 30th September 2021 the Association leases as follows:	had total commitm	ents under n	on-cancellable	operati
	Land &	Buildings	Other
	2021	2020	2021	2020
	E			F
Within one year			11,317	12,751
Between one and five years			4,794	16,111
In over five years
			16,111	28,862

			General	Restricted	Total Funds
			Fund	Funds	2020
INCOME AND ENDOWMENTS		FROM:	F		E
Charitable activities
Show income Annual member's subscriptions Life member's subscriptions			29,523 49,415 13,633		29,523 49,415 13,633
			92,571		92,571
Other trading activities Investments Coronavirus Job Retention Scheme			176,093 35,360 122,423		176,093 35,360 122,423
Total			426,447		426,447
EXPENDITURE ON:
Raising funds Investment management	costs		67,080 9,068		67,080 9,068
			76,148		76,148
Charitable activities
Show expenditure Costs in support ofthe show			285,596 603,248	538	285,596 603,786
Primary purpose donations			1,000		1,000
			889,844	538	890,382
Total			965,992	538	966,530
Net loss on investments			(5,259)		(5,259)
Net income Transfer between funds			(544,804)	(538)	(545,342)
Fund balances brought forward at 1"October 2019			5,166,016	12,983	5,178,999
Fund balances carried forward		at
30'"September 2020			4,621,212	12,445	4,633,657