REGISTERED CHARITY NUMBER: 272075
Trustees' Report and Unaudited Financial Statements for the Year Ended 31 August 2023 for Honiton & District Young Farmers Club
Evolution ABS Limited Oake House Silver Street West Buckland Wellington Somerset TA21 9LR
Honiton & District Young Farmers Club
Contents of the Financial Statements for the Year Ended 31 August 2023
| Page | |
|---|---|
| Trustees' Report | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 8 |
| Detailed Statement of Financial Activities | 9 to 10 |
Honiton & District Young Farmers Club
Trustees' Report
for the Year Ended 31 August 2023
The trustees present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
272075
Principal address
Amory Building Cheriton Bishop Exeter EX6 6JH
Trustees
Mr J Pearce Mr J Rabjohns
Independent examiner
Evolution ABS Limited Oake House Silver Street West Buckland Wellington Somerset TA21 9LR
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on 12 February 2024 and signed on its behalf by:
Mr J Rabjohns Trustee
Page 1
Independent Examiner's Report to the Trustees of Honiton & District Young Farmers Club
I report on the accounts for the year ended 31 August 2023, which are set out on pages three to eight.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept as required by section 130 of the Act; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of the Act; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Evolution ABS Limited Oake House Silver Street West Buckland Wellington Somerset TA21 9LR
Date: 12 February 2024
Page 2
Honiton & District Young Farmers Club
Statement of Financial Activities
for the Year Ended 31 August 2023
| 2023 Unrestricted fund Total Notes £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income 25,928 Activities for generating funds 2 45,069 Investment income 3 16 Total incoming resources 71,013 RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income 52,012 Fundraising trading: cost of goods sold and other costs 5,272 Total resources expended 57,284 NET INCOMING RESOURCES 13,729 RECONCILIATION OF FUNDS Total funds brought forward 22,505 TOTAL FUNDS CARRIED FORWARD 36,234 |
2022 funds £ 23,214 42,036 1 65,251 58,100 6,839 64,939 312 22,193 22,505 |
|---|---|
The notes form part of these financial statements
Page 3
Honiton & District Young Farmers Club
Balance Sheet
At 31 August 2023
| 2023 Unrestricted fund Total Notes £ CURRENT ASSETS Stocks 6 - Debtors 7 2,001 Cash at bank and in hand 8 34,233 36,234 NET CURRENT ASSETS 36,234 TOTAL ASSETS LESS CURRENT LIABILITIES 36,234 NET ASSETS 36,234 FUNDS 8 Unrestricted funds 36,234 TOTAL FUNDS 36,234 |
2022 funds £ 1,000 2,001 19,504 22,505 22,505 22,505 22,505 22,505 22,505 |
|---|---|
The financial statements were approved by the Board of Trustees on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 4
Honiton & District Young Farmers Club
Notes to the Financial Statements for the Year Ended 31 August 2023
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
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.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. ACTIVITIES FOR GENERATING FUNDS
| Panto, Drama & Entertains Big breakfast Trips Bar Dinner, Dances & Discos Cider Tour Carnival Exchange |
2023 £ 2,409 3,728 - 7,757 28,714 - 2,461 - 45,069 |
2022 £ 1,550 2,555 1,650 6,183 27,929 150 1,210 809 42,036 |
|---|---|---|
Page 6
Honiton & District Young Farmers Club
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
| 3. INVESTMENT INCOME Interest received 6. STOCKS Raw materials 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors |
2023 £ 16 2023 £ - 2023 £ 18 1,983 2,001 |
2022 £ 1 2022 £ 1,000 2022 £ 18 1,983 2,001 |
|---|---|---|
Page 6
Honiton & District Young Farmers Club
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
8. MOVEMENT IN FUNDS
| Net | |||
|---|---|---|---|
| movement in | |||
| At 1/9/22 | funds | At 31/8/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 22,505 | 13,729 | 36,234 |
| TOTAL FUNDS | 22,505 | 13,729 | 36,234 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources |
Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 71,013 | (57,284) | 13,729 |
| TOTAL FUNDS | 71,013 | (57,284) | 13,729 |
| Comparatives for movement in funds | |||
| Net | |||
| movement in | |||
| At 1/9/21 | funds | At 31/8/22 | |
| £ | £ | £ | |
| Unrestricted Funds | |||
| General fund | 22,193 | 312 | 22,505 |
| TOTAL FUNDS | 22,193 | 312 |
22,505 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 65,251 | (64,939) | 312 |
| TOTAL FUNDS | 65,251 | (64,939) |
312 |
Page 7
Honiton & District Young Farmers Club
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement in | |||
| At 1/9/21 | funds | At 31/8/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 22,193 | 14,041 | 36,234 |
| TOTAL FUNDS | 22,193 | 14,041 | 36,234 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources |
Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 136,264 | (122,223) | 14,041 |
| TOTAL FUNDS | 136,264 | (122,223) | 14,041 |
Page 8
Honiton & District Young Farmers Club
Detailed Statement of Financial Activities for the Year Ended 31 August 2023
| INCOMING RESOURCES Voluntary income Net Livestock Income Sundry income Bingo Fundraising- Charity Account Cycle Subscriptions Shirts Skills for Life Shows SW Area & AGM Activities for generating funds Panto, Drama & Entertains Big breakfast Trips Bar Dinner, Dances & Discos Cider Tour Carnival Exchange Investment income Interest received Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Trips Subscriptions Bingo Dinner, Disco & dances Shirts Hall Hire Insurance Cycle Shows Carried forward |
2023 £ 1 561 1,447 14,267 - 2,220 3,565 1,141 (20) 2,746 25,928 2,409 3,728 - 7,757 28,714 - 2,461 - 45,069 16 71,013 - 5,866 277 21,092 6,491 1,445 - - 248 35,419 |
2022 £ 2,137 379 1,497 2,394 4,470 3,075 2,035 935 392 5,900 23,214 1,550 2,555 1,650 6,183 27,929 150 1,210 809 42,036 1 65,251 1,885 3,041 1,402 21,622 2,983 1,347 446 5,870 - 38,596 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 9
Honiton & District Young Farmers Club
Detailed Statement of Financial Activities
for the Year Ended 31 August 2023
| Costs of generating voluntary income Brought forward Newsletter & Office Sundries Panto, Drama & Entertains Net Livestock Expenses Big breakfast Skills for life and Sports Fundraising costs Donations Bar Cider Tour Exchange Fundraising trading: cost of goods sold and other costs Carnival Float SW Area & AGM Closing stock Total resources expended Net income 8. Bank balances at 31 August 2023 Cash Current Account Reserve Account Charity Account Carnival Account Stock account |
2023 £ 35,419 254 809 3,566 - 472 1,145 137 6,961 3,249 - - 52,012 152 4,120 1,000 5,272 57,284 13,729 |
2022 £ 38,596 114 1,228 3,262 2,327 1,675 871 - 5,746 3,422 200 659 58,100 379 6,460 - 6,839 64,939 312 128.00 13,153.81 3,619.48 13,787.33 3,258.12 286.66 |
|---|---|---|
| 34,324.40 |
This page does not form part of the statutory financial statements
Page 10