**REGISTERED CHARITY NUMBER: 263702** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021** ## **FOR** **THE NATIONAL FARMERS' UNION HAMPSHIRE COUNTY BRANCH BENEVOLENT ASSOCIATION** McCabe Ford Williams Chartered Accountants 89 King Street Maidstone Kent ME14 1BG **THE NATIONAL FARMERS' UNION HAMPSHIRE COUNTY BRANCH BENEVOLENT ASSOCIATION** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021** ||**Page**| |---|---| |**Report of the Trustees**|1 to 2| |**Independent Examiner's Report**|3| |**Statement of Financial Activities**|4| |**Balance Sheet**|5| |**Notes to the Financial Statements**|6 to 8| |**Detailed Statement of Financial Activities**|9| **THE NATIONAL FARMERS' UNION HAMPSHIRE COUNTY BRANCH BENEVOLENT ASSOCIATION** ## **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** To provide financial support to needy members, their wives and families and to the widows and families of deceased members.Such support (including to wives, widows and families) may also be given to ex-members, to ex-members of other County Branches who now reside in Hampshire, to retired full-time members of staff, and to farm managers nominated by their employers to represent them in their affairs as members. To make donations, when practicable, to the Royal Agricultural Benevolent Institution (RABI). Needy members are encouraged to apply in the first instance to RABI, who retain professional staff and work closely with Social Services. Donations to RABI by the Hampshire Benevolent Fund are designed to cover at least all RABI payments to Hampshire NFU members. All members of the Hampshire County Branch of the NFU are members of the Benevolent Association. The Association is managed by the Finance and Organisation Committee of the NFU Hampshire County Branch which has full power to appoint officers and staff; make orders and regulations for the management of the Association; direct the investing, control and distribution of funds; decide finally on all applications for relief; and generally conduct the business of the Association. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** Donations to charitable organisations of £7,500 were made to the Royal Agricultural Benevolent Institution, £2,000 to Farming Crisis Network and £6,000 to Hampshire Air Ambulance. ## **FINANCIAL REVIEW** ## **Investment policy and objectives** The charity's investments are managed on a discretionary basis on a medium risk profile by Rathbones with the balanced objective of capital growth and income. ## **Reserves policy** The charity maintains sufficient liquid reserves to fund its activities for at least the following year. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **Recruitment and appointment of new trustees** New trustees are appointed by the existing trustees and are selected for their relevant skills and qualities.All new trustees are given sufficient information about the charity and its governing deed to understand the nature of the charity to comply with its regulatory requirements. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 263702 Page 1 **THE NATIONAL FARMERS' UNION HAMPSHIRE COUNTY BRANCH BENEVOLENT ASSOCIATION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021** ## **Principal address** Unit 8 Ground Floor Rotherbrook Court Bedford Road Petersfield Hampshire GU32 3QG ## **Trustees** C Cook R Corbett (resigned 31.8.21) J Lewis J Gibbons (appointed 31.8.21) ## **Independent Examiner** Emma Andrews McCabe Ford Williams Chartered Accountants 89 King Street Maidstone Kent ME14 1BG ## **Investment advisers** Rathbones 8 Finsbury Circus London EC2M 7AZ Approved by order of the board of trustees on ............................................. and signed on its behalf by: ........................................................................ J Lewis - Trustee Page 2 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE NATIONAL FARMERS' UNION HAMPSHIRE COUNTY BRANCH BENEVOLENT ASSOCIATION** ## **Independent examiner's report to the trustees of The National Farmers' Union Hampshire County Branch Benevolent Association** I report to the charity trustees on my examination of the accounts of The National Farmers' Union Hampshire County Branch Benevolent Association (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. Emma Andrews McCabe Ford Williams Chartered Accountants 89 King Street Maidstone Kent ME14 1BG Date: ............................................. Page 3 **THE NATIONAL FARMERS' UNION HAMPSHIRE COUNTY BRANCH BENEVOLENT ASSOCIATION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021** |30.9.21
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Investment income
2
18,855
**EXPENDITURE ON**
Raising funds
3
4,954
**Charitable activities**
Royal Agricultural Benevolent Institution
7,500
Farming Crisis Network
2,000
Air Ambulance
6,000
Other
2,196
**Total**
22,650
Net gains on investments
61,046
**NET INCOME**
57,251
**Other recognised gains/(losses)**
Gains/(losses) on revaluation of fixed assets
80,065
**Net movement in funds**
137,316
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
627,130
**TOTAL FUNDS CARRIED FORWARD**
764,446|30.9.20
Total
funds
£
17,364
4,317
15,000
2,000
6,000
2,180
29,497
21,667
9,534
(24,886)
(15,352)
642,482
627,130| |---|---| The notes form part of these financial statements Page 4 **THE NATIONAL FARMERS' UNION HAMPSHIRE COUNTY BRANCH BENEVOLENT ASSOCIATION** ## **BALANCE SHEET 30 SEPTEMBER 2021** |Notes
**FIXED ASSETS**
Investments
5
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
6
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds
**TOTAL FUNDS**|30.9.21
Unrestricted
fund
£
738,762
27,854
(2,170)
25,684
764,446
764,446
764,446
764,446|30.9.20
Total
funds
£
604,183
25,049
(2,102)
22,947
627,130
627,130
627,130
627,130| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. J Lewis - Trustee The notes form part of these financial statements Page 5 **THE NATIONAL FARMERS' UNION HAMPSHIRE COUNTY BRANCH BENEVOLENT ASSOCIATION** ## **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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. 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. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 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. ## **2. INVESTMENT INCOME** |**INVESTMENT INCOME**||| |---|---|---| ||30.9.21|30.9.20| ||£|£| |Dividends|18,264|16,768| |Deposit account interest|6|12| |Bond and Unit Trust interest|585|584| ||18,855|17,364| Page 6 continued... **THE NATIONAL FARMERS' UNION HAMPSHIRE COUNTY BRANCH BENEVOLENT ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021** ## **3. RAISING FUNDS** ## **Investment management costs** |**Investment management costs**||| |---|---|---| ||30.9.21|30.9.20| ||£|£| |Investment advice|4,954|4,317| ## **4. 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. ## **5. FIXED ASSET INVESTMENTS** |**FIXED ASSET INVESTMENTS**|**FIXED ASSET INVESTMENTS**| |---|---| |Listed
investments
£
**MARKET VALUE**
At 1 October 2020
604,183
Additions
158,179
Disposals
(166,504)
Change in value
142,904
At 30 September 2021
738,762
**NET BOOK VALUE**
At 30 September 2021
738,762
At 30 September 2020
604,183|| |UK|Non UK| ||| |Listed investments
£308,225
£329,730|| |Non Listed Investments
£59,717
£41,090|| |No individual investments comprised over 10% of the value of the portfolio.|| Page 7 continued... **THE NATIONAL FARMERS' UNION HAMPSHIRE COUNTY BRANCH BENEVOLENT ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021** ## **5. FIXED ASSET INVESTMENTS - continued** Cost or valuation at 30 September 2021 is represented by: ||||Listed| |---|---|---|---| ||||investments| ||||£| ||Valuation in 2021||261,430| ||Cost||477,332| ||||738,762| |**6.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |||30.9.21|30.9.20| |||£|£| ||Other creditors|2,170|2,102| ## **7. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 30 September 2021. Page 8 **THE NATIONAL FARMERS' UNION HAMPSHIRE COUNTY BRANCH BENEVOLENT ASSOCIATION** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021** ||30.9.21|30.9.20| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Investment income**||| |Dividends|18,264|16,768| |Deposit account interest|6|12| |Bond and Unit Trust interest|585|584| ||18,855|17,364| |**Total incoming resources**|18,855|17,364| |**EXPENDITURE**||| |**Investment management costs**||| |Investment advice|4,954|4,317| |**Charitable activities**||| |Royal Agricultural Benevolent Institution|7,500|15,000| |Farming Crisis Network|2,000|2,000| |Air Ambulance|6,000|6,000| ||15,500|23,000| |**Support costs**||| |**Governance costs**||| |Administration|426|374| |Accountancy|1,770|1,806| ||2,196|2,180| |Total resources expended|22,650|29,497| |**Net expenditure before gains and losses**|(3,795)|(12,133)| |**Realised recognised gains and losses**||| |Gains/losses f a investments|61,046|21,667| |**Net income**|57,251|9,534| This page does not form part of the statutory financial statements Page 9