2020-12-31-accounts - East Of England Agricultural Society

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Company info	rmation	rmation	rmation
Constitution:	East of England			Agricultural		Society	is a company	limited		by guarantee		and a
	charity governed			by its Memorandum			and Arddes	of	Association,		incorporated
	on 7Octobei	1981in England,				with the last amendment			on	19March 2013
Charity registration	283564
number:
Company	1589922
registration
number:
Registered office:	EastofEngland		Showgmund
	Peterborough
	PE2 6XE
	Email infoeastofengland.				org.uk
	Web:
Directors at the	RCBrsmhy	-Chaitman
date the report was approved:	CD Reynolds —Vice Chairman TBWBeazley BMJHarris
	J RPardsh
	J SGPaton
	A H Riddington
	N PRome
Interim Chief	A Beattie
Cxecutlve Dfhcen
Auditors:	Saffery Chsmpness
	Unex House
	Bourges Boulevard
	Peterbomugh
	PE1 1NG
Solicitors:	Hewitsons LLP
	Shakespeare House
	42 Newmarket		Road
	Cambridge
	CB58EP
Cankers:	Santander UKPlc
	1-4Long Causeway
	Petetbomugh
	PE1 1YD


INDEX			PAGE
Report ofthe Trustees
S'tlateBIc report			10
Independent auditor's	report		17
Principal accounting policies			21
ConsoBdated statement offinancial activities
(IncorporatlnS an income and expenditure		account)
Consolidated balance	sheet
Balance sheet			26
Consolidated cash flow statement			27
itotea to the financial	statements		28
History			40
Council members and	ofBcials		42

Period ended 31	December		2020	2019
Net expenditure	on charitable activities		$,000	$,000
Shows			251	325
Shows managed	by Showgrtamd Setvices Ltd		18	54
Technical and educational activities			148	502
Membership
Toed net expenditure on charitable		activities	471	941

					Yeat ending	Year ending
					31December	31Decembm
					2020	2019
			Umestticsed	Restricted	Total	Total
		Note	Funds	Funds	Funds	Funds
Inconlltlg resollrces:
Income fmm genemted funds:
-Voluntsxf Income			28	986	1,014	1683
-Gmnts		23	429,023		429,023
-Trading activities -Investment income			1,222817 90,464	275 46~	~,592 136,704	2,764,056 227,652
			1,741,032	47~	1,789@33	2,993391
Income fmm chaxitsble activities:
-Shows			14~5		14,295	660,872
-Technical and educational	activities		2,661		2,661	23426
-Membership			10,467		10,467	9310
			27,423		27,423	693,708
Pmat on disposal ofBxed	assets		100		100	81,640
Othex income			48@53		48,353	48,869
Total income			1,817,708	478i01	1,865,209	3,817,608
Resources expended:		2b
Costs ofgenerating funds:
- Fundxaising trading: cost	ofgoods sold
snd other costs			2,152,525		2,152,525	2,771,937
-Investment management	costs		26,414	9,695	36,109	47,050
			2,178,939	9,695	2,188,634	2,818,987
Chsxitable activities:
-Shows - Technical snd educational	activities		282,957 116~	34,446	282,957 150,789	1,039,519 525,722
-Membenbip			64,848		64,848	69,494
			464,148	34,446	498,594	1,634,735
Governance and snategf costs			3,937,580		3,937,580	280,177
Othex resouxces expended						32,951
Total teaoutces expended			68I809667	44,141	6,624,808	4,766,851
Net gains (losses) on investmentax
Total gains (losses) on investments			29,940	49,677	79,617	991$22
Net movement in funds			(4,733,020)	53,037	(4,679,982)	42,279
Total funds bmught forsurd			17,429,540	2,280,431	19,709,971	19,667,692
Total funds carried forward 129696„8I20 xa8,998 All ofthe activities~wem continuing activims. The restdcted fund indudes movements on sn~t fund, the value ofwhich isnot					28,829,989 msteust	19,709,971

Consolidated		cash	flow statement
					Yeat	Year
					ended	ended
					31December	31Decembet
				Nose	2020	2019
Cash used in opemting	activities				(t&668,815)
Cash Bows fmm investing		activities
Purchase ofumgible Bxed	assets				(122,498)	(184&440)
Saleoftangible Bxed asses					100	82@00
Pmchsse ofinvestments					(2,189,742)	(1,832@95)
Sale ofinvestments					2,556,686	6,746g98
Dividends received					107,145	219/25
Interest received					29,559	8427
Cash pmvided investing		activities			381,250	5&039&it5
(Decrease) increase in cash in the pedod					(I&287,565)	4,286@03
Opening cash at the beginning			ofthe pedod		5,667,889	4381&686
Closing cash at the end	ofthe period				4P80P24	5,667,889

			Year ended	Y«sr ended
			31December	31December
			2020	2019
a	Administrative	expenses
	Staffcosts (see	cbelow)	417,921	478,592
	BstabBshment	charges	5474~7	1&839@40
			5,692,129	2@17,932

Expenditure		Sudf	Direct	Support	Depreci-
		costs	costs	cos'ts	ation
Cost ofraiang funds
Pundrsising nading: cost	ofgoods sold	61/76	1,45?@75	115,462	518&412	2&152,525
snd other costs
Investment management		3,138	29,057	3,914		36,109
		64814	456&2	119,376	518,412	2&1N,634
Charitable activities Shows		150&094	43,421	?5~	64,002	282,957
Technical and educadonsi	activities	69444	13,974	19,570	48,N1	150,789
Membership fees		35,678		19,570	9,600	64&848
		255&016	57495	64&580	121,602	498,594
Governance and snstegf	costs	98,491	3,827447	11,742		3,937,5N
Total msomces expended		417,921	5&371&174	195&698	640,015	6&624&808

esults forthe perio	d (continued)
		Staff costs	Direct costs	Support costs		Total
						2019
Cost ofraising funds F~trading: cost	ofgoods sold	91,002	1,960327	204,706	516,002	2,771,937
snd other costs
Investment management		7,605	32/05	6,940		47,050
		98,608	1,992,732	211646	516~002	2818~987
Charitable activims
Shows		162,957	767,753	45,105	63,704	1&039/19
Technical snd educational	activities	59$37	357,011	61,696	47,778	525,722
Membership fees		23,889	1@53	34,696	9,556	69,494
		246,083	1,126,117	141,497	121,038	1,634,735
Governance and suxtcgr	costs	133,901	125,458	20,818		280,177
Other resources expended			32,951			321951
Total resources expended		478,592	3/44@08	406,911	637,040	4,766,851

		Year ended	Year ended
		31December	31December
		2020	2019
Wages, salaries and expenses		729,876	974,203
Social security costs		20,630	84@13
Othet pension costs - degned contnbution	costs undet new scheme	20,938	68,761
		771,444	1,127,277
Less:Wages recharged to duvet costs		353,523	648,685
		417,921	478,592

	Yeat ended	Year ended
	31December	31December
	2020	2019
	Number	Number
OEBce,catedug and management		23
Showgmuud		5
		28

Year ended	Year ended
31December	31December
2020	2019
Numb et	Number

						Year ended	Year ended	Yesx ended
						31December		31December
							2020	2019
Remuneration	ofthe senior	management		team			31'1,944	316,922
S. Interest	and Investment		income
						Year ended		Year ended
						31Decenibex		31December
							2020	2019
Investment	income
Listed invesunents							107,145	219825
Bsnh interest							29,559	8,327
							136,704	227,652
. Tangible fixed assets
			Freehold	Arena			OKce
			land aed	building aed	Show&gxm&n&t	hhaa ground	Foiaitexe
		heiMiegs		Surrounds	development	equipment	and fittings	Total
						A'		A'
The gmup and
company
Cost orvaluation
At 1January	2020		380&403	9&664&910	6&580&667	t&453&245	143&815	18~040
Additions					35,721	86&777		122&498
Disposais						(69,923)		(69,923)
At 31December 2020			380&403	9&664&9IO	6/16~8	1&47(4099	1&th815	18475&615
Depxeciation
At 1Jsnusxy	2020		b600	3&360&429	4&177&354	1&299&m	88,182	8&918&796
Provided in the pedod				280&084	286&190	66&670	7&071	640&015
Eh&nines&d on Disposal						(69,923)		(69,923)
At 31December 2020			b600	3&640&513	4&463&544	1&295&978	87&253	9,488&888
Net boob value
At 31December 2020			378,803	6&024&398	2&152,844	17&ht21	5th562	8,786&727
At 31December 2019			»&&&&	&P&&»l	&&»»»»,&l&		&I,»» &&&»&

) Listed	investm	ents -	at market value
				31December	31December
				2020	2019
Market vdoe bmught		&nw&ud		5&131,483	9,053,965
Additions	atcost or	tnnskr	value	2,230,752	2,796,476
Pmceeds				(2,556,686)	(6,746398)
Gains on	invesonents			79,617	991,521
Decresm	in cash invested			(41,010)	(964,081)
				4,844,156	5,131,483
Historical	cost			3,709,614	3,903385

he investmen	ts held at the petio	d end can be analysed at ma	rket value as follow	s:
		31December	31December	31December	31December
		2020	2020	2019	2019
Cash deposits			1.7	123,425	2.4
Bonds snd y'1ts		718&478	14.8	890~2	17.3
Alternatives		536,540	11.1	614,689	12.0
UK e&pdty fonda		1@&1,7&6	2!L5	1,727,040	33.7
UKproperty	funds	106,075	2.2	130,699	2.5
Overse&n equity funds		2,018&870	41.7	1,645@68	32.1
				5,131,483

I	nvestments	that represen	t Creater than 5	%by value ofthe C	hanty's portfolio:
				31December	31December	31December	31December
				2020	2020	2019	2019
	Spdr S&P500EtfTr S&rp		500Ucits Etf
	USD Dis			298,087	6.2'/o	285,568
b)	Unlisted	Investment	-at cost
						31December	31December
	The gmup	and company				2020	2019
	Land at Upwood Farm						4,000

nvestmen	t ln subs	idiary company
			Shares	atcost
			31December	31December
			2020	2019
Investment	-subadary	company	9,600	9,600

s at 31Dece	mber 2020, the aggregate	ofcapind	and reserves ofthe subsid	iary was gl,600 (2019:	+,600).
summary o	fthe results ofthe trading	subsidiary	is set out below:
				31December	31December
				2020	2019
Tumovcf				1,568,546	3,272,476
Cost ofsales				(208,061)	(1,48lg43)
Gmss Pm6t				1460,485	1,784,133
Administration	expenses			(I»278»t48)	(1,477,924)
Opemdng pm6t				82,137	306409
Interest mceived
Pro&t for the	6nancial yeat			82,196	319,187
Donated to EastofEngland Agdcultuml		Society		(82,196)	(319,187)
Retained pro6t
Total assets				712,170	1877,775
Total baMiiies				(707v570)	(1368,175)
Shareholden'	funds			9,600	9,600

Debtors
		The	gmup		The	company
		31December	31	December	31December	31	December
		2020		2019	2020		2019
Amounts due	in less than one year:
Trade debtors		229,073		456,499	7,742		2,991
Amounts owed by subsidhr
undert&ddug					157&724		283,626
Other debs&rs		259,950		34,980	42,106		45,132
Pn:payments	snd accrued income	239,896		202,413	205&i61		170,771
		728,919		693,892			502,520

rad(tora: amounts falling dne	with(a one year
	The	gmup		The	company
	31December	31	December	31December	31	December
	20209		2019	2020		2019
Tmde creditors	3&138/34		334,911	3,091,710		50,178
Social secudty and other taxes	106&i46		31@92	760		757
Other creditors Accmsls and defened income	4,882 464,176		199,777 525,457	1,576 99~		1,147 173,486
	3,714,138		1,091,537	3,193~4		225,568

egassed	income
		The gmup	The company
Opening	balance	295,944	5&906
Realised	in the pedod	(259,881)	(5,906)
Increased	in the peiiod	325,182	23,094
Closing	balance

	Umestdcted	Restricted
	funds	Funds
Tangible fixed asseu	8)786,727		8,786,727
Investments	2,617,910	2,230PA6	4,848,156
Net current assets	1,291,884	103@22	1@95,106
Total net assets	12,696421	2,333,468	15,029,989

			Restricted
			Funds	Total
Tangible	Gxed assets	93047A4		9,304~
Investments		2,905,752	2/29,731	5,135,483
Net current assets		5319~	50,700	5,270~
Total net	assets		2880,431	19,709,971

Unrestr	icted funds
		The group	The group	The company	The cctupsuy
		31December	31December	31December	31December
		2020	2019	2020	2019
Opening	balance	17,429,540	17,434/97	17,429,540	17,434497
Degcit	for the pedod	(4,733,020)	(4,757)	(4,733,020)	(4,757)
Closing	balance	12,696,520	17,429840	12,696,520	17,429,540

Marshal P	a	pworth Fund
			31December	31December
			2020	2019
Opening balance			2,261,831	2714,795
Other income			1,261	846
Investment	income		46,240	65,978
				2281,619
Less:
Scholarships		payable	(500)	(258,162)
Investment	fees		(9+27)	(10,123)
Management		charges	(27,000)	(27,000)
			(6@30)	(8,893)
Meeting and		travel expenses	(483)	(1,822)
Administmtion		expenses	(300)	(2,313)
			2,265,192	1,973806
Gains on investments			49,676	288/25
			2@14,868	2,261,831
Investments			2,230,?A6	2~9,731
Cash at hant			7+li1	35,985
Debtors			93,989	96,218
Creditors			(16,628)	(100,103)
			2414,868	2461,831

		Year ended	Year ended
		31December	31December
		2020	2019
Net movement in funds		(4,679,982)	42,279
Depreciation charges		640,015	637,040
Less investment income		(136&704)	(227,652)
Gains on investments		(79,617)	(991/22)
Pmgt on disposal ofBred assets		(100)	(81,640)
(increase) decrease in debtors		(35,027)	143,779
Increase (decrease) in creditors		2,622,600	(275,596)
Net cash outBow fmm opetsdng	activities	(1&668,815)	(753,312)

Yeat ended	Year ended
31December	31December
2020	2019
19@$0	18,750
2,650	2,575
14/50	7,835
36,150	29,160

Land		Other		Laud		Other
31December	31	December	31	December	31	December
2020		2020		2019		2019
		9,549		8,450		5,760

t 31December 2020 the Society	had annual commitments u	nder operating leas	es due to expire as	set out below:
	Land	Other	Land.	Other
	31December	31Decembm	31December	31December
	2020	2020	2019	2019
Up to 1 year	8,450	9&175	8,450	7,680
Between 1and 5years Over 5years	33,800 30~0	16,481	33,800 312,650	23,040

1984	SirPeter Proby, Bt
1985	The Rt Hon. The Lord Bosnhnsn, MC,TD,DL
1986	The RcHon. Robin Leigh-Pemberton,	PC
1987	Frans HJJAnddessen Esq
	Major Peter Bletsoe-Brown, TD,DL (Deputy)
1988	SirJohn Harvey-Jones, MBE
1989	HRH The Pdncess Royal, GCVO
	The Hon. Lady Hastings, MPhil, MFH	(Deputy)
1990	The Ead ofDalktdth, DL
1991	SCWhitbread Esq
1992	SirJohn Quinton
1993	The Right Hon. The Lord Pym, PC, MC, DL
1994	The Rt.Rev. Wdliam Westwood, The Lord Bishop ofPeterbomugh
1995	Edmund Vestey Esq, MFH, DL
1996	SirJohn LLowtber, KCVO, CBE,JP
1997	Het Majesty The Queen
	HRH The Duchess ofGloucester GCVO (Deputy)
1998	Lady Victoria Leathern, DL
1999	Richard LBanks Esq
2000	HRH The Duchess ofGloucester, GCVO
	James GP Cmwden Esq, KStJ,Jp (Deputy)
2001	HRH The Pdnce ofWales, KG,KT
	The Marquess and Marcldoness ofTavistock (Deputies)
2002	Sir Philip Naylor-Leyland, Bt.MFH
2003	SirBen Gill, CBE
2004	The Lord De Ramsey, DL,FRAgS.D.Sc.
2005	Robert Stutdy Esq, MEP
2006	His Royal Highness, The Earl ofWessex
2007	The Bishop ofEly, The Right Reverend	Dr Anthony	Russell
2008	The Baroness Byford, DBE
2009	WJ (Bill)Jordan Esq, MBE
2010	The Earl ofIveagh, DL
2011	The Duke ofBedford
	John Scoret Esq (Deputy)
2012	Lady Isabella Naylor-Leyland, MFH
2013	Paul Heygste Esq
2014	Lord Taylor ofHolbeach, CBE
2015	Sir Hugh Dubedy KCVO, CBE HM Lord-Lieutenant ofCambridgeshire
2016	David Reynolds Esq, OBE,DL
2017	Julian Pmctor Esq, OBE
2018	The Bishop ofEly, The Right Reverend	Stephen Conway
2019	The Bishop ofEly, The Right Reverend	Stephen Conway
2020	Dr David Llewellyn

Retim AGM 2021	Retire AGM 2022	Retire AGM 2023
Mr MRAndrew, JP	MrTArthey BSc(Hons)	Mr RCBramley
MrTBWBeasley	Mr RSGBamwell, LL	Mr EA Davies, N.Schol.
Mt IBeeby	Mr M H Bistros-Brown	Mr BH Gotting
Mr NJBunnan	Hon. GP PBowyer, MRICS	Mr NJHards
Ms A GoodaU	Mrs KGraves	MrTMartin
Mr H Horreg	Mr FJGrounds, MBE,DL, FRICS,FAAV	Mr GRNorman
MrP GRHonell, TD,DL	MrBMJHams	MrJH Orbell
Mrs C Myland	Mr SG Harris, ACIB,FRAgS	Mr SWPeck
Mr AH Riddington, JP,DL,ARAgS	Mr M Martin	Mr CD Reynolds
Mt N PRome	MrJParnsh	MrD Reynolds, OBE,DL
Mt P Shatpley	MrJSGPaton, JP,FRICS, FAAV	Mr N RRussell
MrJWallace	Mr AJ Sharpley	Mr M Sly
	MrJDWard	Mrs IA N Wheat
	Mr PEPWard
	Mr RWilkinson
	Miss KWorboys

	SOCIETYCOMMXITEES
Chuinsuo uud Vior-Chuinuuu ofCouuul urs rx oftf cioorsuhnr ofull Courmi ewe
SOCIETYBOARD	Chairman: Mr RCBramley
	Vice Chainnm: Mr CD Reynolds
	Messrs TBWBeazley, BMJHarris, JRPatrish, JSGPaton, A H Riddington,		N PRome
SGSBOARD	Chairman: Mt RJTate
	MtsJIsaac. Messrs H RQArnold, TBWBeazley, RCBramley, PGRHorrell,		JPLunn
AUDIT, RISK&	Acting Chairman: MrJWallace
REMUNERATION	Messrs SG Hams, PGRHorrell
BEDFORDSHIRE	Chaitman: Mt SFranklin
SOCIAL	Messrs EA Davies, A Grimes, RHedges, D Hunt,
	J RPamsh, W Simkins, DTomkins, TWootton
CULTIV8	Chairman: Mr RWilkinson
	Mesdames H Darby, SWdcox
	Messrs TArthey, BBeszley, H Horrell, JMarshall-Roberts,	CRobinson, P Sharpley,
	BStroud
EDUCATION	Chauman: Ms A Goodall
KIDS COUNTRY	Ms M Bliszczak,
	Messrs RDouglas, P Sibley, RSuckling, PTate
FARMS
BUSINESS	Messrs N Blake, PJBletsoe-Bmwn, J Goodchild, H Horrell, JRPapworth,
AWARDS	J Thorpe
	Chaitman: MrJTurner
	Messrs H RQ Arnold, TArthey, JDay, A H Riddington,	M Sly
MARSHAL	Chairman: MrTArthey
PAPWORTH	Mesdames ECraven, A Townsend
	Messrs TBWBearley, N Goodall, SG Harris, JRPamsh, CDReynolds
NOR~ON-	Chaitman: Mt MH Bletsoe-Bmwn
SHIRE	Mrs PReynolds, Messrs JBennie, M Betddge, PJBletsoe-Brow,
ACTIVITIES	RSGBamwell, RDicks, M Middleton, N Paske, D Reynolds, BStokoe
PAST	Messm TBWBeazIey, EA Davies, SGHams, PGRHorreil, M Martin, D Reynolds,
CHAIRMEN	A H Riddingion, AJSharpley
PROPERTY	Chahman: MrJSGPaton
	Messrs RSGBamwell, AH Riddington
STOCK	Ms KArden, Messrs DBurton, D Fabb,J Gent, SRuck, A Smith, RWest
FESTIVAL