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|---|---|---|---|
|Chairman's|statement||1-4|
|Trustees'|report||5-11|
|Statement|oftrustees'|responsibilities|12|
|Independent
auditor's||report|13-15|
|Statement|offinancial|activities|16|
|Balance sheet|||17-18|
|Statement|ofcash flows|||
|Notes to the financial||statements|20-46|
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||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
||||funds|funds||funds|funds||
|||Notes|2022
6|2022
6|2022f|2021
6|2021
6|2021|
|Donations
and|||||||||
|legacies||3|1,267,716|502,144|1,7B9,860|597,739|207,361|805,100|
|Charitable
activities||4|4,519,568||4,519,568|1,802,588|254,557|2,057,145|
|Other trading|||||||||
|activities|||43,763||43,763|23,710||23,710|
|Investments|||29,846||29,846|25,127||25,127|
|Other income|||553||553|28,236||28,236|
|Total income|||5,861,446|502,144|6,363,590|2,477,400|461,918|2,939,318|
|Raising funds||||21,212|21,212||54,510|54,510|
|Charitable
activities||9|6,652,012|15,552|6,667,564|2,461,903|254,557|2,716,460|
|Total expenditure|||6,652,012|36,764|6,688,776|2,461,903|309,067|2,770,970|
|Net gains/(losses)||on|||||||
|investments||13|(136,327)||(136,327)|147,771||147,771|
|Net (outgoing)/incoming|||||||||
|resources before|||||||||
|transfers|||(926,893)|465,380|(461,513)|163,288|152,851|316,119|
|Gross transfers|||||||||
|between funds|||1,940|(1,940)|||||
|Net movement|in|funds|(924,953)|463,440|(461,513)|163,268|152,851|316,119|
|Fund balances|at 1 January||||||||
|2022|||12,938,263|1,185,759|14,124,022|12,774,995|1,032,908|13,807,903|
|Fund balances|at|31|||||||
|December 2022|||12,013,310|1,649,199|13,662,509|12,938,263|1,185,759|14,124,022|
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||||2022|2021|
|---|---|---|---|---|
|||Notes|6|6|
|Fixed assets|||||
|Intangible assets||15|27,072||
|Tangible assets||16|9,627,501|9,896,082|
|Investments||17|1,381,648|1,200,527|
||||11,038,221|11,096,609|
|Cunent assets|||||
|Debtors||19|675,479|211,969|
|Cash at bank and in|hand||2,387,313|3,544,724|
||||3,082,792|3,756,693|
|Creditors: amounts|falling due within||||
|one year||29|(436,504)|f729,280)|
|Net current assets|||2,626,288|3,027,413|
|Total assets less current liabilities|||13,862,509|14,124,022|
|Income funds|||||
|Restricted
funds||23|1,649,199|1,185,759|
|tIBIBBIIIgtgwfi~n|||||
|Designated
funds||24|11,311,122|11,581,509|
|General unrestricted|funds||702,188|1,356,754|
||||12,013,310|12,938,263|
||||13,662,509|14,124,022|
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|||||2922||2921||
|---|---|---|---|---|---|---|---|
||||Notes|5||6||
|Cash flows from operating||acfivities||||||
|Cash (absorbed
by)/generated||from||||||
|operations|||||(695,256)||680,899|
|Investing|activities|||||||
|Purchase|of intangible
assets|||(30,079)||||
|Purchase|oftangible
fixed assets|||(144,474)||||
|Purchase|of investments|||(420,883)||(353,522)||
|Proceeds|from disposal of investments|||103,435||339,949||
|Investment|income received|||29,846||25,127||
|Net cash|(used in)/generated|from||||||
|investing|activities||||(462,155)||11,554|
|Net cash|used In financing|activities||||||
|Net (decrease)/increase
in cash and|||cash|||||
|equivalents|||||(1,157,411)||692,453|
|Cash and|cash equivalents
at beginning||ofyear||3,544,724||2,852,271|
|Cash and|cash equivalents|at end of|year||2,387,313||3,544,724|
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|Donations
and legacies|||||
|---|---|---|---|---|
||Unrestricted|Restricted|Total|Total|
||funds|funds|||
||2022|2022|2022|2021|
|||8|8||
|Donations
and giRs|734,037|302,144|1,036,181|423,531|
|Legacies receivable|3,663|200,000|203,663|50,000|
|Membership
fees|530,016||530,016|331,569|
||1,267,716|502,144|1,769,860|805,100|
|Forthe year ended 31December 2021|597,739|207,361||805,100|
|Donations
and gilts|||||
|County donations|88,670|293,552|382,222|288,045|
|General donations|9,946||9,946|727|
|Summer show donations|5,543||5,543||
|Shearing
committee||8,592|8,592|1,116|
|Sponsorship|620,525||620,525|133,643|
|Winter Fair donations|8,583||8,583||
|Spring show donations|770||770||
||734,037|302,144|1,036,181|423,531|
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|||||||2022|2021|
|---|---|---|---|---|---|---|---|
||||||||8|
|Outside events (including||all utilities|||recharges)|507,700|305,314|
|Rental income (permanent||buildings)||||259,747|182,411|
|Grants||||||52,692|1,139,494|
|Smallholding
and|Countryside||Festival|||206,899||
|Winter Fair||||||487,003|429,926|
|Summer
Show||||||3,005,527||
|||||||4,519,568|2,057,145|
|Analysis
by fund||||||||
|Unrestdcted
funds||||||4,519,568|1,802,588|
|Restricted funds|||||||254,557|
|Grants||||||||
|Welsh Government|- Welsh Cultural||||Recovery Fund||700,000|
|Powys County
Council|||||||40,000|
|Coronavirus
Job Retention||Scheme|||||254,557|
|Welsh Government|-Innovation|||Fund||24,150|20,000|
|Welsh Government|-Discretionary|||Grant||28,542|124,936|
|||||||52,692|1,139,494|
##
||||Unrestricted|Unrestricted|
|---|---|---|---|---|
||||funds|funds|
||||2022f|2021f|
|Solar panel||income|14,592|21,943|
|Wayleaves|and phone mast income||5,225|476|
|Merchandise|||2,294|1,291|
|Grass Keep|||21,652||
|Other trading||activities|43,763|23,710|
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|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2022f|2021
8|
|Income|from listed investments|25,378|22,310|
|Interest|receivable|4,468|2,817|
|||29,846|25,127|
##
||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2022|2021f|
|Sundry|income|including|insurance|claims|553|28,236|
##
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|8|Raising|funds|||
|---|---|---|---|---|
||||Restricted|Restricted|
||||funds|funds|
||||2022|2021|
||||0|f|
||Counties|expenditure|21,212|54,510|
||||21,212|54,510|
##
##
|9|Charitable|activities|activities||||||
|---|---|---|---|---|---|---|---|---|
||||Summer|Winter Fair|SH &C|Outside|Total|Total|
||||Show||Festival*|Events|2022|2021|
||||8|||6||8|
||Staffcosts||794,065|128,667|54,663|134,135|1,111,530|767,642|
||Catering
and sundry||||||||
||expenses||208,084|30,330|9,900||248,314||
||Insurance||80,994|13,124|5,576|13,682|113,376|71,933|
||Printing,
stationery||and||||||
||badges||15,920|9,756|8,769||34,445|2,964|
||Prizes||220,647|27,449|17,363||265,459|44,260|
||Publicity||38,262|10,253|5,148||53,663|7,286|
||Show expenses||737,960|47,603|45,927||831,490|256,151|
||Showground|staging and|||||||
||expenses||1,487,531|210,115|110,374||1,808,020|53,586|
||||3,583,463|477,297|257,720|147,817|4,466,297|1,203,822|
||Share ofsupport costs||||||||
||(see note 10)||1,550,668|251,263|106,747|261,942|2,170,620|1,496,303|
||Share ofgovernance||||||||
||costs (see|note 10)|21,894|3,548|1,507|3,698|30,647|16,335|
||||5,156,025|732,108|365,974|413,457|6,667,564|2,716,460|
||Analysis
by fund||||||||
||Unrestricted|funds|5,140,473|732,108|365,974|413,457|6,652,012||
||Restricted funds||15,552||||15,552||
||||5,156,025|732,108|365,974|413,457|6,667,564||
||Forthe year ended||31 December 2021||||||
||Unrestricted|funds|63,693|418,147|18|1,980,045||2,461,903|
||Restdcted funds|||||254,557||254,557|
||||63,693|418,147|18|2,234,602||2,716,460|
##
##
|10|Support costs||||||||
|---|---|---|---|---|---|---|---|---|
||||Support|Governance|2022|Support|Governance|2021|
||||costs
f|costa
f||costs
f|costs
f||
||Staff costs||153,041||153,041|142,767||142,767|
||Depreciation||416,061||416,061|409,797||409,797|
||Administration
expenses||1,184,307||1,184,307|636,257||636,257|
||Donated services||33,442||33,442||||
||Donations||2,602||2,602|1,550||1,550|
||Permanent
site||320,961||320,961|246,456||246,456|
||Postage, telephone
sundries|and|80,206||60,206|59,476||59,476|
||Audit fees|||12,500|12,500||10,000|10,000|
||Legal and professional|||9,436|9,436||6,335|6,335|
||Trustees expenses|||8,711|8,711||||
||||2,170,620|30,647|2,201,267|1,496,303|16,335|1,512,638|
||Analysed
between||||||||
||Charitable
activities||2,170,620|30,647|2,201,267|1,498,303|16,335|1,512,638|
##
##
||2022|2021|
|---|---|---|
||Number|Number|
|Ofgce staff|23|28|
|Site staff|12|7|
|Total|35|33|
##
##
||||
|---|---|---|
|Employees||(Continued)|
|Employment
costs|2022|2021|
||6|6|
|Wages and salaries|1,081,972|792,643|
|Social security costs|97,241|71,822|
|Other pension costs|85,358|45,944|
||1,264,571|910,409|
|The number ofemployees
whose annual
remunerati
were:|on
was 660,000 or more||
|---|---|---|
||2022|2021|
||Number|Number|
|F80,000-F89,999||1|
##
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##
|Net gains/(l|osses)
on investments|||
|---|---|---|---|
|||Unrestricted|Unrestricted|
|||funds|funds|
|||2022|2021|
|||5||
|Revaluation|ofinvestments|(136,327)|147,771|
##
##
|intangible
fixed asse|ts||
|---|---|---|
|||Software|
|Cost|||
|At 1 January 2022|||
|Additions - separately|acquired|30,079|
|At 31 December 2022||30,079|
|Amortisation
and impairment|||
|At 1 January 2022|||
|Amortisation
charged|for the year|3,007|
|At 31 December 2022||3,007|
|Carrying
amount|||
|At 31 December 2022||27,072|
|At 31 December 2021|||
##
##
|Tangible fix|ed assets|||||
|---|---|---|---|---|---|
||||Land and|Showground|Total|
||||buildings|appliances,||
|||||solar panels,||
|||||otncs furniture||
|||||and show||
|||||shop||
||||8|8||
|Cost||||||
|At 1 January|2022||17,429,126|534,963|17,964,089|
|Additions|||141,188|3,286|144,474|
|At 31 December 2022|||17,570,314|538,249|18,108,563|
|Depreciation|and impairment|||||
|At 1 January|2022||7,620,843|447,165|8,068,008|
|Depreciation|charged|in the year|379,888|33,166|413,054|
|At 31 December 2022|||8,000,731|480,331|8,481,062|
|Carrying
amount||||||
|At 31 December 2022|||9,569,583|57,918|9,627,501|
|At 31 December 2021|||9,808,285|87,797|9,896,082|
##
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##
|17|Fixed asset investments|Fixed asset investments||||||
|---|---|---|---|---|---|---|---|
||||Listed|Long term|Cash in|Other|Total|
||||investments|fixed asset|portfolio|investments||
|||||investment||||
|||||held to||||
|||||maturityf||||
||Cost orvaluation|||||||
||At 1 January 2022||1,164,316||36,111|100|1,200,527|
||Additions||120,883|300,000|||420,883|
||Valuation
changes||(136,327)||||(136,327)|
||Cash movement||||739||739|
||Disposals||(104,174)||||(104,174)|
||At 31 December 2022||1,044,698|300,000|36,850|100|1,381,648|
||Carrying
amount|||||||
||At 31 December 2022||1,044,698|300,000|36,850|100|1,381,648|
||At 31 December 2021||1,164,316||36,111|100|1,200,527|
|||||||2022|2021|
||Other investments|compdise:|||Notes|6|8|
||Investments
in subsidiaries||||28|100|100|
##
##
|18|Financial instruments||||||2022
8|2021f|
|---|---|---|---|---|---|---|---|---|
||Canying
amount of|financial assets|||||||
||Instruments
measured|at fair value through||profit or loss|||1,044,698|1,003,412|
|19|Debtors||||||||
||||||||2022|2021|
||Amounts
falling due|within|one year:||||||
||Trade debtors||||||233,844|131,625|
||Accrued legacy income||||||202,000||
||Other debtors||||||235,856|56,509|
||Prepayments
and accrued income||||||3,779|23,835|
||||||||675,479|211,969|
|20|Creditors: amounts|fafilng|due within one year||||||
||||||||2022|2021|
|||||||Notes|8|8|
||Other taxation
and social security||||||129,094|44,942|
||Deferred
income|||||21|29,518|330,395|
||Trade creditors||||||118,303|123,014|
||Amounts
due to subsidiary
undertakings||||||100|100|
||Other creditors||||||388||
||Accruals||||||159,101|230,829|
||||||||436,504|729,280|
|21|Deferred income||||||||
||||||||2022|2021|
||||||||8||
||Other deferred
income||||||29,518|330,395|
||Deferred
income is included||in the financial|statements|as follows:||||
||||||||2022|2021|
|||||||||8|
||Deferred income is included||within:||||||
||Current
liabilities||||||29,518|330,395|
||Movements
in the year:||||||||
##
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##
|||||||
|---|---|---|---|---|---|
|21|Deferred income||||(Continued)|
||Deferred income at|1 January 2022||330,395|343,750|
||Released from previous||periods|(530,016)|(331,569)|
||Resources deferred|in|the year|229,139|318,214|
||Deferred income at|31|December 2022|29,518|330,395|
##
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|Name ofundertaking|Registered|Nature ofbusiness|Class of|% Held|
|---|---|---|---|---|
||office||shares held|Direct Indirect|
|R.WA.S.Enterprises|Wales|Dormant|Ordinary|100.00|
|Limited|||Shares||
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|28|Cash generated
from|operations|||2022|2021|
|---|---|---|---|---|---|---|
||||||8|8|
||(Deficit)/surpus
for the|year|||(461,513)|316,119|
||Adjustments
for:||||||
||Investment
income recognised
in statement|||offinancial activities|(29,846)|(25,127)|
||Fair value gains and losses on investments||||136,327|(147,771)|
||Amortisation
and impairment
ofintangible||assets||3,007||
||Depreciation
and impairment
oftangible fixed assets||||413,054|409,797|
||Movements
in working|capital:|||||
||(Increase)/decrease
in|debtors|||(463,509)|177,138|
||Increase/(decrease)
in|creditors|||8,101|(35,902)|
||(Decrease) in deferred|income|||(300,877)|(13,355)|
||Cash (absorbed
by)/generated
from operafions||||(695,256)|680,899|
|30|Analysts ofchanges|In net funds|||||
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|||2022||2021|
|---|---|---|---|---|
|||8|F.||
|Winter Fair|||||
|Tradestands||153,723||123,584|
|Gate receipts and online ticket sales||253,043||207,529|
|Exhibitor entry fees||29,387||17,563|
|Catering concessions||50,849||38,480|
|Caravan and accommodation||||25,629|
|Sponsorship||124,314||102,993|
|Show donations|||||
|Miscellaneous||||17,141|
|Total income|||611,316||
|Less: expenditure|||||
|Charitable
resources expended|||||
|Catering
and sundry|expenses|30,330|||
|Insurance||13,124||3,597|
|Printing,
stationery|and badges|9,756||2,964|
|Prizes||27,449||34,119|
|Publicity and advertising||10,253||1,443|
|Show expenses||47,604||208,424|
|Showground
staging and expenses||210,114||53,586|
|Wages,
Nl and pensions||128,667||38,382|
|Total expenditure|||477,297||
|Contribution
to overheads|||134,019||
##
##
||||2022|||2021||
|---|---|---|---|---|---|---|---|
||||||S||8|
|Smallholding
and|Countryside|Festival||||||
|Tradestan
de|||49,082|||||
|Gate receipts and online ticket sales|||127,480|||||
|Exhibitor entry fees|||22,160|||||
|Catering concessions|||4,134|||||
|Caravan
and accommondation|||3,273|||||
|Sponsorship|||46,050|||||
|Show donations|||5,543|||||
|Miscellaneous|||771|||||
|Total income||||258,493||||
|Less: expenditure||||||||
|Charitable
resources expended||||||||
|Catering
and sundry|expenses||9,900|||||
|Festival expenses|||45,928|||||
|Insurance|||5,576|||||
|Printing,
stationery|and badges||8,769|||||
|Prizes|||17,363|||||
|Publicity
and advertising|||5,148|||||
|Showground
staging
and expenses|||110,374|||||
|Wages,
Nl and pensions|||54,663|||||
|Total expenditure||||257,721||||
|Contribution
toov|erheads|||772||||
##