**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: 1. that accounting records were not kept as required by section 130 of the Act; or 2. that the accounts do not accord with those records; or 3. that the accounts do not comply with the accounting requirements of the Act; or 4. 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