REGISTERED CHARITY NUMBER: 272075
Trustees' Report and Unaudited Financial Statements for the Year Ended 31 August 2024 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 2024
| 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 2024
The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. 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 R Broom Mr M Derryman
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 ............................................. and signed on its behalf by:
............................................. 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 2024, 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: .............................................
Page 2
Honiton & District Young Farmers Club
Statement of Financial Activities
for the Year Ended 31 August 2024
| 2024 Unrestricted fund Total Notes £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income 32,890 Activities for generating funds 2 37,091 Investment income 3 87 Total incoming resources 70,068 RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income 52,575 Fundraising trading: cost of goods sold and other costs 3,173 Total resources expended 55,748 NET INCOMING RESOURCES 14,320 RECONCILIATION OF FUNDS Total funds brought forward 36,234 TOTAL FUNDS CARRIED FORWARD 50,554 |
2023 funds £ 26,827 42,869 16 69,712 50,711 5,272 55,983 13,729 22,505 36,234 |
|---|---|
The notes form part of these financial statements
Page 3
Honiton & District Young Farmers Club
Balance Sheet
At 31 August 2024
| 2024 Unrestricted fund Total Notes £ CURRENT ASSETS Debtors 6 2,001 Cash at bank and in hand 48,554 50,555 CREDITORS Amounts falling due within one year 7 (1) NET CURRENT ASSETS 50,554 TOTAL ASSETS LESS CURRENT LIABILITIES 50,554 NET ASSETS 50,554 FUNDS 8 Unrestricted funds 50,554 TOTAL FUNDS 50,554 |
2023 funds £ 2,001 34,233 36,234 - 36,234 36,234 36,234 36,234 36,234 |
|---|---|
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 2024
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.
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.
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 Carnival Carol Singing |
2024 £ 1,208 2,581 1,755 1,771 26,401 3,202 173 37,091 |
2023 £ 2,409 3,728 - 7,757 26,514 2,461 - 42,869 |
|---|---|---|
Page 5
Honiton & District Young Farmers Club
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
3. INVESTMENT INCOME
| Interest received 4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors |
2024 £ 87 2024 £ 18 1,983 2,001 2024 £ 1 |
2023 £ 16 2023 £ 18 1,983 2,001 2023 £ - |
|---|---|---|
Page 6
Honiton & District Young Farmers Club
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
6. MOVEMENT IN FUNDS
| Net | |||
|---|---|---|---|
| movement in | |||
| At 1/9/23 | funds | At 31/8/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 36,234 | 14,320 | 50,554 |
| TOTAL FUNDS | 36,234 | 14,320 | 50,554 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources |
Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 70,068 | (55,748) | 14,320 |
| TOTAL FUNDS | 70,068 | (55,748) | 14,320 |
| Comparatives for 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 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 69,712 | (55,983) | 13,729 |
| TOTAL FUNDS | 69,712 | (55,983) |
13,729 |
Page 7
Honiton & District Young Farmers Club
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
6. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement in | |||
| At 1/9/22 | funds | At 31/8/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 22,505 | 28,049 | 50,554 |
| TOTAL FUNDS | 22,505 | 28,049 | 50,554 |
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 | 139,780 | (111,731) | 28,049 |
| TOTAL FUNDS | 139,780 | (111,731) | 28,049 |
Page 8
Honiton & District Young Farmers Club
Detailed Statement of Financial Activities
for the Year Ended 31 August 2024
| INCOMING RESOURCES Voluntary income Net Livestock Income Sundry income Bingo Fundraising- Charity Account Subscriptions Shirts Skills for Life Shows SW Area & AGM Activities for generating funds Panto, Drama & Entertains Big breakfast Trips Bar Dinner, Dances & Discos Carnival Carol Singing Investment income Interest received Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Trips Subscriptions Bingo Dinner, Disco & dances Shirts Hall Hire Shows Newsletter & Office Sundries Panto, Drama & Entertains Net Livestock Expenses Carried forward |
2024 £ 1,370 4,653 3,369 12,708 3,440 1,506 400 288 5,156 32,890 1,208 2,581 1,755 1,771 26,401 3,202 173 37,091 87 70,068 2,078 6,665 53 15,098 819 825 71 424 650 3,551 425 30,659 |
2023 £ - 1,461 1,447 14,267 2,220 3,565 1,141 (20) 2,746 26,827 2,409 3,728 - 7,757 26,514 2,461 - 42,869 16 69,712 - 5,866 277 24,292 6,491 1,445 248 254 809 3,566 - 43,248 |
|---|---|---|
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 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Costs of generating voluntary income | ||
| Brought forward | 30,659 | 43,248 |
| Big breakfast | 687 | 472 |
| Skills for life and Sports | - | 1,145 |
| Fundraising costs | 3,392 | 137 |
| Donations | 10,000 | 2,460 |
| Bar | 3,476 | 3,249 |
| Tug of War expenses | 4,361 | - |
| 52,575 | 50,711 | |
| Fundraising trading: cost of goods sold and other costs | ||
| Carnival Float | 1,197 | 152 |
| SW Area & AGM | 1,976 | 4,120 |
| Closing stock | - | 1,000 |
| 3,173 | 5,272 | |
| Total resources expended | 55,748 | 55,983 |
| Net income | 14,320 | 13,729 |
| Bank Balances | ||
| Cash | 105.00 | 128.00 |
| Current Account | 24,423.84 | 13,153.81 |
| Reserve Account | 3,668.73 | 3,619.48 |
| Charity Account | 12,338.79 | 13,787.33 |
| Carnival Account | 415.38 | 3,258.12 |
| Stock Account | 7601.74 | 286.66 |
| 48,553.40 | 34,324.40 |
This page does not form part of the statutory financial statements
Page 10