| Page | ||||||
|---|---|---|---|---|---|---|
| Trustees' annual report (incorporating |
the | director's | report) | |||
| Independent examiner's report to the |
trustees | |||||
| Statement of financial |
activities | (including | income and | |||
| expenditure account) |
||||||
| Statement of financial |
position | |||||
| Notes to the financial | statements |
| Registered | charity | name | name | Bridgwater Agricultural |
Bridgwater Agricultural |
Society | Limited | ||
|---|---|---|---|---|---|---|---|---|---|
| Charity registration | number | 275593 | |||||||
| Company | registration | number | 01355085 | ||||||
| Principal office and | registered | 7 Castle Street | |||||||
| office | Bridgwater | ||||||||
| TA6 3DT | |||||||||
| The trustees | |||||||||
| Mr G Groves | |||||||||
| Mr P Irish | |||||||||
| Mr T Miller | |||||||||
| Mr J Walker | |||||||||
| Mr R Heal | |||||||||
| Mr SAdams | |||||||||
| Mr D Dosson | |||||||||
| Mr M Snook | (Died 17 December 2022) | ||||||||
| Mr D House | |||||||||
| Mr K Barrow | |||||||||
| Mr A Bult | |||||||||
| MrJWinslade | (Chairman) | ||||||||
| Mrs A Wills | |||||||||
| Mr G Bagg | |||||||||
| Mr D Rood | |||||||||
| MrJ Rowe | (Appointed | 30June 2022) | |||||||
| Company | secretary | Mrs M Adams | |||||||
| Independent | examiner | K Davies FCCA | |||||||
| 7 Castle Street | |||||||||
| Bridgwater | |||||||||
| Somerset | |||||||||
| TA6 3DT |
| s, or in their roles i | n sup | port ofthese sectors: |
|
|---|---|---|---|
| 2023 | |||
| f | |||
| Farmlink | 16,000 | ||
| Ploughing Match South West Winter |
Fair | 14,500 1,450 |
|
| West Somerset Training Group Somerset Holsteins & Calf Show |
2,150 3,000 |
||
| RABI | 5,000 | ||
| Travel & Course Grants | 19,075 | ||
| Brymore Academy FWAG South West |
1,250 8,000 |
||
| Other grants under | f1,000 | 2,750 | |
| Total grants | 73,175 |
| Year ended 28Febru | ary | 2023 | ||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| Unrestricted | ||||||
| funds | Total funds | Total funds | ||||
| Note | 6 | |||||
| Income and endowments | ||||||
| Donations and legacies Investment income |
8 52,647 |
8 52,647 |
9 54,346 |
|||
| Total income | 52,655 | 52,655 | 54,355 | |||
| Expenditure | ||||||
| Expenditure on raising funds: Investment management costs Expenditure on charitable activities Other expenditure |
6,7 9 |
(7,192) (78,534) (4,133) |
(7,192) (78,534) (4,133) |
(6,960) (38,509) (3,057) |
||
| Total expenditure | (89,859) | (89,859) | (48,526) | |||
| Net gains/(losses) on investments |
10 | 12,291 | 12,291 | 138,070 | ||
| Net (expenditure)/income | and net movement | in funds | (24,913) | (24,913) | 143,899 | |
| Reconciliation offunds |
||||||
| Total funds brought forward |
1,563,656 | 1,563,656 | 1,419,757 | |||
| Total funds carried forward | 1,538,743 | 1,538,743 | 1,563,656 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | |||||
| Fixed assets | |||||
| Investments | 15 | 1,502,256 | 1,450,200 | ||
| Current assets | |||||
| Debtors Cash at bank |
and in | hand | 16 | 4,579 39,576 |
7,005 115,216 |
| 44,155 | 122,221 | ||||
| Creditors: amounts | falling due within one year | 17 | 7668 | 8 765 | |
| Net current assets | 36487 | 113456 | |||
| Total assets | less current liabilities | 1,538,743 | 1,563,656 | ||
| Net assets | 1,538,743 | 1,563,656 | |||
| Funds ofthe charity Unrestricted funds |
1,538,743 | 1,563,656 | |||
| Total charity | funds | 18 | 1,538,743 | 1,563,656 |
| 5. | Donations a |
nd le | gacies | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total | Funds | Unrestricted | Total Funds | |||||
| Funds | 2023 | Funds | 2022 | ||||||
| E | f | 2 | |||||||
| Donations | |||||||||
| Donations | |||||||||
| 6. | Expenditure | on charitable | activities | by fund type | |||||
| Unrestricted | Total | Funds | Unrestricted | Total Funds | |||||
| Funds | 2023 | Funds | 2022 | ||||||
| E | |||||||||
| Grants paid Support costs |
73,175 5,359 |
73,175 5,359 |
29,720 8,789 |
29,720 8,789 |
|||||
| 78,534 | 78,534 | 38,509 | 38,509 | ||||||
| 7. | Expenditure | on charitable | activities | by activity type | |||||
| Grant funding | Support | Total funds | Total fund | ||||||
| of activities | costs | 2023 | 2022 | ||||||
| 2 | 8 | 2 | |||||||
| Grants paid Governance |
costs | 73,175 | 5,359 | 73,175 5,359 |
29,720 8,789 |
||||
| 73,175 | 5,359 | 78,534 | 38,509 | ||||||
| 8. | Analysis of | grants | |||||||
| 2023 | 2022 | ||||||||
| K | |||||||||
| Grants to institutions | |||||||||
| Grants to institutions | 54,100 | 27,800 | |||||||
| Grants to individuals | |||||||||
| Grants to individuals | 19,075 | 1,920 | |||||||
| Total grants | 73,175 | 29,720 | |||||||
| Grants awarded | by activity | 2023 | 2022 | ||||||
| Agricultural Events and Purposes Travel scholarships |
56,100 17,075 |
28,300 1,420 |
|||||||
| 73,175 | 29,720 |
| 9. | Other expenditure | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||||
| Funds | 2023 | Funds | 2022 | |||||
| 2 | 2 | |||||||
| Printing, stationery and telephone Companies House filing fee Honorarium |
53 13 2,500 |
53 13 2,500 |
76 13 2,500 |
76 13 2,500 |
||||
| Sundry expenses | 1,567 | 1,567 | 468 | 468 | ||||
| 4,133 | 4,133 | 3,057 | 3,057 | |||||
| 10. | Net gains/(losses) on investments |
|||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||||
| Funds | 2023 | Funds | 2022 | |||||
| 2 | 2 | |||||||
| Unrealised gains/(losses) investments |
on listed | 9,201 | 9,201 | 124,112 | 124,112 | |||
| Realised gains/(losses) investments |
on listed | 3,090 | 3,090 | 13,958 | 13,958 | |||
| 12,291 | 12,291 | 138,070 | 138,070 | |||||
| 11. | Independent examination |
fees | ||||||
| 2023 | 2022 | |||||||
| 6 | ||||||||
| Fees payable to the independent examiner for: Independent examination ofthe financial statements Other financial services |
2,590 3,890 |
3,070 5,640 |
||||||
| 6,480 | 8,710 |
| Tangible fixed assets | ||
|---|---|---|
| Equipment | ||
| 2 | ||
| Cost | ||
| At 1 INarch 2022 and 28 February | 2023 | 1,107 |
| Depreciation At 1 March 2022 and 28 February |
2023 | 1,107 |
| Carrying amount |
||
| At 28 February 2023 | ||
| At 28 February 2022 |
| Investments | |
|---|---|
| Listed | |
| investments | |
| Cost or valuation | |
| At 1 March 2022 | 1,450,200 |
| Additions | 47,281 |
| Disposals Fair value movements |
(4,426) 9,201 |
| At 28 February 2023 | 1,502,256 |
| Impairment | |
| At 1 March 2022 and 28 February 2023 | |
| Carrying amount At 28 February 2023 |
1,502,256 |
| At 28 February 2022 | 1,450,200 |
| The trustees consider that there were many material invest those being: |
ment equity holdings at th |
e year-end, |
|---|---|---|
| 2023 | 2022 | |
| Diageo Pic Old 28 101/108p Astrazenca Pic Ord USD0.25 |
88,225 78,880 |
93,125 65,678 |
| BHP Group Pic Ord USD0.50 4 Glaxosmithkline Ord GBP0.25 |
50,550 45,613 |
50,400 61,816 |
| Prudential Ord GBP0.05 |
51,415 | 46,028 |
| Reckitt Benckiser Group Pic Ord GBP0.10 Relx Pic 1451/116p Rio Tinto Ord GBP0.10 |
40,334 62,575 68,544 |
44,247 57,025 69,492 |
| Smiths Group Pic37 1/2p Unilver Pic Ord 3.11p Walt Disney Company Com Stk USD0.25 National Grid ORD GBP0.12431289 |
43,805 66,176 22,761 40,348 |
37,980 59,944 30,422 43,536 |
| Land securities Group Ord GBP0.10661 | 31,432 | 36,295 |
| 690658 | 700 645 |
| 16. | Debtors | ||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| 2 | |||||
| Prepayments | and accrued income | 4,579 | 7,005 | ||
| 17. | Creditors: amounts | falling due within one year | |||
| 2023 | 2022 | ||||
| 2 | 2 | ||||
| Accruals and | deferred | income | 7,668 | 8,765 |
| At | At | ||||||
|---|---|---|---|---|---|---|---|
| 1 | March 202 | Gains and | 28 February | ||||
| 2 | Income | Expenditure | losses | 2023 | |||
| General | funds | 1,563,656 | 52,655 | (89,859) | 12,291 | 1,538,743 | |
| At | At | ||||||
| 1 | March 202 | Gains and | 28 February | ||||
| 1 | Income | Expenditure | losses | 2022 | |||
| 2 | |||||||
| General | funds | 1,419,757 | 54,355 | (48,526) | 138,070 | 1,563,656 |
| Analysis of net as | sets between funds | ||
|---|---|---|---|
| Unrestricted | Total Funds | ||
| Funds | 2023 | ||
| 8 | |||
| Investments Current assets |
1,502,256 44,155 |
1,502,256 44,155 |
|
| Creditors less than | 1 year | (7,668) | (7,668) |
| Net assets | 1,538,743 | 1,538,743 | |
| Unrestricted | Total Funds | ||
| Funds | 2022 | ||
| 2 | |||
| Investments | 1,450,200 | 1,450,200 | |
| Current assets | 122,221 | 122,221 | |
| Creditors less than | 1 year | (8,765) | (8,765) |
| Net assets | 1,563,656 | 1,563,656 |