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2025-08-31-accounts

SOMERSET FEDERATION OF YOUNG FARMERS CLUBS

ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

CHARITY REGISTRATION NUMBER: 273051

SOMERSET FEDERATION OF YOUNG FARMER'S CLUBS

CONTENTS

Legal and administrative information 1
Trustee's Report 2 - 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 - 10

SOMERSET FEDERATION OF YOUNG FARMER'S CLUBS

LEGAL AND ADMINISTRATIVE INFORMATION

President Lorraine Hooper Appointed 6 November 2024
Chairman Sam Wade Reappointed 6 November 2024
Management Chairman Sarah Howe Reappointed 6 November 2024
Agricultural and Rural Affairs (ARAC) Chairman
Maddie Rousell Reappointed 6 November 2024
Treasurer Diana Taylor Appointed 6 November 2024
Trustees Sam Wade Reappointed 6 November 2024
Sarah Howe Reappointed 6 November 2024
Nicola Quick Reappointed 6 November 2024
Emily Paull Reappointed 6 November 2024
Ellie Loder Reappointed 6 November 2024
Lottie Hill Reappointed 6 November 2024
Gilbert Loder Reappointed 6 November 2024
Maddie Rousell Reappointed 6 November 2024
Georgie Seymour Reappointed 6 November 2024
Melissa Standen Reappointed 6 November 2024
Anna Beake Appointed 6 November 2024
Charlotte Cook Appointed 6 November 2024
Freya Smith Appointed 6 November 2024
Molly Hunter Appointed 6 November 2024
Verity Adams Appointed 6 November 2024
Governing document Constitution dated 11th November 2015
Registered charity number 273051
Principal address The Old School
School Road
Westonzoyland
Bridgwater
Somerset
TA7 0LN

1

REPORT OF THE TRUSTEES OF SOMERSET FEDERATION OF YOUNG FARMER'S CLUBS

The Trustees present their report and the unaudited financial statements for the year ended 31 August 2025.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The organisation is an unincorporated charitable organisation which was registered as a charity on 1 January 1961 under the number 273051. The Charity is governed by the constitution dated 11th November 2015.

The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective 1 January 2019.

The Trustees are elected at the Federation's Annual General Meeting. There are detailed guidelines set out in the constitution regarding the eligibility of Trustees.

The charity is managed by the Trustees.

OBJECTIVES AND ACTIVITIES

The objects of the charity are:

• To advance the education of young members of the public at large in agriculture, home crafts, country life and related subjects; and

• In the interest of the social welfare of such members of the public to provide and promote the provision of facilities for recreation and other leisure time occupations, being facilities, which will improve their conditions of life and will assist in the development of their spiritual and mental capacities, self-reliance and individual responsibilities so that they may grow to full maturity as individuals and members of the community.

Somerset Federation of Young Farmers Clubs furthers these objects, by providing support to its network of clubs within Somerset, to provide young people in rural areas with opportunities for personal and social development through a programme of activities and contact, thus enabling them to become responsible adults equipped with the confidence and skills to make a contribution within their community.

Somerset Federation of Young Farmers Clubs seeks to achieve this by:-

• Offering opportunities for personal growth through which young people can develop life skills, confidence and selfesteem.

• Providing ways for young people to express their views and be heard.

• Maintaining a strong countryside element in those programmes including relevant farming links.

• Enabling members to be fully involved in the decision making of the organisation and helping them recognise, reflect upon and value the learning processes involved.

2

REPORT OF THE TRUSTEES OF SOMERSET FEDERATION OF YOUNG FARMER'S CLUBS

Somerset Federation of Young Farmers Clubs (Somerset YFC) owns the building in which the offices are based and meetings, competitions and events are held. A separate statement of financial activities and balance sheet are prepared as they prefer to report it separately for management purposes. These are enclosed with these accounts.

ACHIEVEMENTS AND PERFORMANCE

At the end of the financial year, there were 826 members of Somerset YFC (2024: 850). Many other young people also benefit from YFC activities by attending events as guests.

It is very important to the Federation that young people from rural areas can engage in positive activities and be involved in their communities. As well as taking part in YFC events and activities, the members also do a lot to help other people and organisations with voluntary work in their local areas.

We are extremely grateful to all the volunteers of all ages, who so generously give up their time to support the membership in many different ways. Many of these volunteers are themselves former members of YFC, and they are so willing to help because they understand the importance of the work the organisation does and its value to the wider rural community.

Members achieve and recognise skills and confidence in public speaking, drama and entertainments, sports, Duke of Edinburgh, stock judging and stock presentation. They attend meetings and learn to fundraise for their club and the local community.

YFC members learn valuable leadership skills by serving as Club Chairman, Secretaries, Treasurers and leaders. Many of them go on to use these skills to serve their community as officers of local organisations.

FINANCIAL REVIEW

The accounts show a surplus for the year ended 31 August 2025 of £3,878 (2024: £16,004).

Income from Affiliation Fees was £26,394 (2024: £16.656).

Donations have decreased by £675 to £1,048 for the year (2024: £1,723).

Income from Social Events and Marketing Activities totalled £22,963 (2024: £57,343). This represents the net income after expenditure has been taken into account from these events.

Expenditure for the year totalled £57,998 (2024: £66,500).

The Property Management accounts that accompany these accounts for the year ended 31 August 2025 show a surplus of £907 (2024: surplus of 13,796).

The Property Management accounts include rent received of £19,553 (2024: £28,723).

3

REPORT OF THE TRUSTEES OF SOMERSET FEDERATION OF YOUNG FARMER'S CLUBS

Reserves Policy

The total funds held at 31 August 2025 amounted to £208,856 (2024: £204,979).

In addition to the amount held in the current account of £123,471 the Charity holds funds in a further account with HSBC, the balance at 31 August 2025 totalled £7,625 (2024: £14,121). In addition to the main charity funds, £282,645 (2024: £281,738) is held within the Property Management accounts.

The Trustees have reviewed the total general reserves held by the charity and feel that they are not excessive. The Trustees also feel that the general reserves should represent at least one year’s expected general expenditure. Members have to renew their membership on an annual basis and it is unknown how many members will join every year. Income from Affiliation Fees can therefore fluctuate year on year. Donations are received from businesses, general public and other charities and therefore cannot be guaranteed. Reserves are also held in case an event has to be cancelled, for which costs have already been incurred.

The reserves in the Property Management Accounts mainly comprise of the property used by the charity and cash has been retained for refurbishment of the property.

Risk Policy

The Trustees regularly review the risks to which the Charity may be exposed and confirm that systems have been established to mitigate those risks.

Governance Code

The Trustees have reviewed the Governance Code and understand their responsibilities as Trustees in respect of the Charity.

Trustee's responsibilities in relation to the financial statements

Law applicable to charitable organisations in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees report was approved by the trustees on …....................... and signed on their behalf by

Trustee: Name:

4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOMERSET FEDERATION OF YOUNG FARMER'S CLUBS

I report on the accounts of the charity (charity registration number 273051) for the year ended 31 August 2025 which are set out on pages 6 to 10.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. The Charity's gross income did not exceed £250,000 and I am qualified to undertake the examination, being a member of The Institute of Chartered Accountants in England and Wales. It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a comparison of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with our examination, no matter has come to our attention.

  1. Which gives us reasonable cause to believe that, in any material respect the requirements:

  2. a. to keep accounting records in accordance with Section 130 of the Charities Act; and

  3. b. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the charities Act

  4. c The accounts have not been prepared in accordance with the Charites SORP (FRS102)

have not been met; or

  1. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

D Nicholas FCA Moore Scarrott Limited Calyx House South Road Taunton Somerset TA1 3DU

Signed:

Date:

5

SOMERSET FEDERATION OF YOUNG FARMER'S CLUBS

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 AUGUST 2025

Notes
INCOME
Affiliation Fees
Donations
Sponsorship
Stock judging Bursary
SOCIAL EVENTS AND
MARKETING ACTIVITIES
Rally
County Ball
90th Dinner and Dance
Social/Publicity General
(2)
Competitions
MISCELLANEOUS
(3)
Interest Received
SUPPLIES
Sales
(4)
Less
Purchases
Opening Stock
LessClosing Stock
(Deficit) on sales
EXPENDITURE
Administration Expenses
(5)
Establishment Costs
(6)
Surplus / (Deficit) for the year
MOVEMENT IN FUNDS
Balance brought forward
Surplus / (Deficit) for the year		 Unrestricted
£
26,394
1,048
3,820
8,952
15,257
(235)
(920)
(91)
22,963
(3,947)
1,993
52,271
403
800
1,478
2,278
(1,478)
800
(396)
52,524
5,474
(57,998)
(6,122)
30,509
(6,122)
24,387		 Restricted
£
-
-
-
10,000
-
-
-
-
-
-
-
-
10,000
-
-
-
-
-
-
-
-
-
-
10,000
1,500
10,000
11,500		 £
£
26,394
1,048
3,820
10,000
8,952
15,257
(235)
(920)
(91)
22,963
(3,947)
1,993
62,272
403
800
1,478
2,278
(1,478)
800
(396)
61,876
52,524
5,474
(57,998)
3,878
32,009
3,878
35,887
Total 2025		 £
£
16,656
1,723
6,340
52,437
7,560
932
(1,747)
(1,839)
57,343
(1,466)
1,651
82,247
464
693
992
1,685
(1,478)
207
257
82,504
59,002
7,498
(66,500)
16,004
16,004
16,004
32,009
Total 2024		 £
£
16,656
1,723
6,340
52,437
7,560
932
(1,747)
(1,839)
57,343
(1,466)
1,651
82,247
464
693
992
1,685
(1,478)
207
257
82,504
59,002
7,498
(66,500)
16,004
16,004
16,004
32,009
Total 2024
52,524
5,474		 59,002
7,498
82,504
(66,500)
16,004
16,004
16,004
32,009

6

SOMERSET FEDERATION OF YOUNG FARMER'S CLUBS

BALANCE SHEET AS AT 31 AUGUST 2025

Notes
FIXED ASSETS
Office Furniture and Equipment
(7)
CURRENT ASSETS
Stock
Debtors
(8)
Cash at Bank
(9)
LESS CURRENT LIABILITIES
Creditors
(10)
NET CURRENT ASSETS
TOTAL NET ASSETS
REPRESENTED BY
Unrestricted Funds
(11)
Restricted Funds
(11)
TOTAL CHARITY FUNDS		 £
£
£
£
4,707
6,532
1,477
1,477
75,871
51,223
131,137
151,499
208,485
204,199
4,336
5,752
4,336
5,752
204,149
198,447
208,856
204,979
197,356
203,479
11,500
1,500
208,856
204,979
2025
2024		 £
£
£
£
4,707
6,532
1,477
1,477
75,871
51,223
131,137
151,499
208,485
204,199
4,336
5,752
4,336
5,752
204,149
198,447
208,856
204,979
197,356
203,479
11,500
1,500
208,856
204,979
2025
2024
204,979
203,479
1,500
204,979

The Trustees are responsible for the preparation of the accounts for the year ended 31 August 2025, set out on pages 1 to 10 and consider that the Charity is exempt from an Audit under section 144 of the Charities Act 2011.

Trustee:

Date:

Name:

7

SOMERSET FEDERATION OF YOUNG FARMER'S CLUBS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES

a) Basis of Preparation

The accounts have been prepared in accordance with:

The Trustees consider that there are no material uncertainties regarding the Charity's ability to continue as a going concern.

b) Reconciliation with previous Generally Accepted Accounting Practice

In preparing the accounts the Trustees have considered whether in applying the accounting policies required by the Charities Statement of Recommended Practice FRS102 a restatement of comparative items was needed. No restatements were required.

c) Income

Income from subscriptions is accounted for in the year in which the receipt relates. Income from donations is accounted for in the year as they become due. In certain circumstances, income and expenditure have been offset against each other and the net surplus or deficit reported. This is considered necessary to enable the readers of the accounts to gain a better understanding of the position.

d) Depreciation

Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:

Office furniture and equipment 25% reducing balance Computer equipment 25% on cost

e) Result for the Year

The surplus/deficit for the year is computed after taking account of all known costs accruing in the year.

f) Stocks

Stocks have been valued at the lower of cost and net realisable value. Cost has been determined on the first in, first out basis, on cost of acquisition. Net realisable value is based on actual or estimated selling prices.

g) Fund Accounting

Funds held by the charity are either:

8

SOMERSET FEDERATION OF YOUNG FARMER'S CLUBS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2.
SOCIAL/PUBLICITY GENERAL
Year Book
Harvest Supper
Information Technology
Publicity and Display
3.
MISCELLANEOUS
AGM & SWA
Bath & West
Sundry Income
Sundry Expenses
4.
SALES
Merchandise
5.
ADMINISTRATION EXPENSES
Salaries
Printing and Stationery
Travel
Accountancy
Chairman's and Vice Chairman's Honoraria
Bank charges and interest
Training and Development
6.
ESTABLISHMENT COSTS
Rent
Telephone
Donations and Subscriptions
Insurance
Depreciation
7.
FIXED ASSETS
Office Furniture and Computer Equipment
Written Down Value at 1 September 2024
Depreciation for the year
Written Down Value at 31 August 2025		 Unrestricted
£
36
142
(682)
(416)
(920)
(1,130)
(1,510)
-
(1,307)
(3,947)
403
403
45,639
904
44
862
2,250
75
2,750
52,524
2,000
1,335
(19)
333
1,825
5,474		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2025
£
36
142
(682)
(416)
(920)
(1,130)
(1,510)
-
(1,307)
(3,947)
403
403
45,639
904
44
862
2,250
75
2,750
52,524
2,000
1,335
(19)
333
1,825
5,474
2025
£
6,532
6,532
(1,825)
4,707		 2024
£
1,286
(17)
(1,927)
(1,089)
(1,747)
1,313
(2,173)
201
(807)
(1,466)
464
464
51,871
1,401
441
750
-
283
4,256
59,002
2,000
1,248
1,495
322
2,433
7,498
2024
£
8,965
8,965
(2,433)
6,532

9

SOMERSET FEDERATION OF YOUNG FARMER'S CLUBS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

8.
DEBTORS
Trade debtors
Other debtors
Accrued income
9.
CASH AT BANK
Current Account
Community Account
Petty Cash Account
10. CREDITORS
Trade Creditors
Accruals
Deferred income
Payroll and pension
11. CHARITY FUNDS
Junior Member Fund (Restricted income fund)
Other General Funds (Unrestricted funds)
Richard Wear Fund (Restricted income fund)		 Balance at
1 Sept 2024
£
1,500
203,479
-
204,979		 2024
£
25,613
25,731
24,527
75,871
2024
£
123,471
7,625
41
131,137
2024
£
-
820
1,465
2,051
4,336
Surplus /
(Deficit)/
(Repaid)
£
-
(6,122)
10,000
3,878		 2024
£
8,565
27,658
15,000
51,223
2024
£
137,337
14,121
41
151,499
2024
£
(328)
750
2,140
3,190
5,752
Balance at
31 Aug 2025
£
1,500
197,356
10,000
208,856

10