The Hertfordshire Agricultural Society
{A Charitable Company Limited by Guarantee)
TRUSTEES, REPORT AND FINANGIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Charity number.. 291037
Company number.. 01872574
Mercer
Hole

The Hertfordshire Agricultural Society
Financial statements for the year ended 31 December 2024
CONTENTS
Page
Trustees, Report
Independent Examinerfs Report
Slatemenl ol Financial Activities
B8lance Sheet
Statement of Cash Flows
10
Notes to th8 Finanaal Statements

The Hertfordshire Agricultural Society
Financial statements for the year ended 31 December 2024
TRUSTEES, REPORT
Thè Tru8tees. who 8re 81so th8 d1￿clOt8 of th8 Chaiily for the purKM)ses olthe c￿npan￿$ Act, submit their Annual
Report together with the financial statements for the year end￿$ 31st December 2024. The financial statements
comply Mth the Charille8 Act 2011, the Cortlpanles Act 2008. the MeTnoTandum 8nd Artides of Association, and
Accounting and Reporting by Charrtlès.. Statement of Reeomrnended Piactice applicable to charities preparing Iheir
accounts in accordance with the Financial Reporting St8ndard gppl￿￿b18 in the UK and Republic of Ireland IFRS
1021 (effective 1 October 20191, Update Bulletin 1.
Reference and Administrative Details
Charity number..
291037
Cornp8ny number..
01872574
Th8 r8gister8d address for th8 ChgTity is also the principal offic9 a(Idress, which houses the Central Supportteam..
The Showground
Dunstable Road
Redboum
St AlbBns
Herttordshire
AL3 7PT
The Trustees S Diredors who served during the pETrod wete a5 follow5..
Frazer Crnwley Iretlred July 20241
Paul Che¥ry
Paul Christian
Iliam John Dickinson
Dr Stephen Ridley Dowbiggin
Catherine Leahy
Charles Richard Percy
Luae Jane Deborah Stone
Stuart Roberts
The Trusleas delegate the day-to-day management ol the eharRy to".
Sarah-Louise M8ry Moreland
Pratik Dutta
Annabel Bolton
Ch8rlott6 Kan0-Bdl(4)8r
Jade Hills
Janet Dawes
Emma Bishop
Execut￿ Dire¢tor
Trade & Evenls Manager
Equine & Schools Mgnagar
Asslstant Sht)w Dir8ctor
Sociely & Membership Manager
Financ6
Livestock Manager
INI8p8nd8nt Examlnèr.
stèv8 Robinson
Mel￿r 8nd Hole Chartered Accountants
72 London Road
st Alb8ns
Hertrordshire
AL1 INS

The Hertfordshire Agricultural Society
Financial slalements for the year ended 31 December 2024
TRUSTEES, REPORT
Obl¢ctlves
The objectives of the Charity are to promols Industy In genaral and I￿ psrlcular to pr%Nnole rural industry And
agriculture, and to such end generally lo impieve il In all ils branches, to encovrage skil and industry in it8nd in all Irad8S,
crafts. 2nd prefesslons ¢onnecled with il. The moslimport8nlfin8n¢lal¢omMilmenl, al Ihe present lime, is th8 organisalion
hosttng and d&llvery of the HertfOrdshI￿ County Show.
Slgnlflcant activltles
The Herttordshiie Agiicultur81 Society'8 principal activity is the holding of an annual county show. Ourshow in May
2024 wss we51 supported by the public wilh excellent feedback fvom attendees, eompetilors. exhibitors, stewards,
and members of the Society. However it is also cle8r that the attendance figures were impa¢led by the f8Ct th8t
BBC Radios Big Weekend was held over the satne weekend as well 8s 8 numberol other srgnificant events whlch
dashed with the show. The show helps us to delpier our objectives by promoling agrioullure and wral industry to
a largely urbsn public and to ehlldr8n and young adults in p8rticu18r. W8 want to Bneou¥age more chlldren ￿cause
we see a benefit to them of an appreciation of how our farmland and If￿1r food is managed and produced.
The Trustees want to try to dose the gap In chlldren's under51allding a￿￿￿t how and where the basic food
ingredients are prodU￿d on farms in Hertlordshire. So, the Hertfor(khire Agricultural Society Sthools Day was run
for the third time in 2024 with over 1,0(X) yfjar 6 ¢hildr&n from C¢unly 8¢hools ho$16d 81 th6 showground. Stsclely
members. show steward5 and Society staff dernonstraled where food corne5 from and how it is grown and
processed before it arrives on the supermarket shell. 11 wa$ 8 g￿al success, good lun for all and much enjoyed.
We iniend ta d8V81op and enlargè the event gradually over the nexl f8w yèar8 Wlth the halp of oenerous sponsors
and our volunteers, farmers, and members. The trustees would like to thank Paul Cherry for his continuing
leadership of this event.
Our staff
The Trustees would like lo iecord th81r ongoing Ihanks lo tha offie6 168m that madè all our actimtles a success.
The te£m is has made e%￿lIent progress this year under the piofegslonal and effective leadership ol Sarah
Moreland our Executive Director.
Tha show and the school's day would not happen wthout the dedication of the 150 or so volunteers who ad as
stewards. Every member ol the Sooi8ty indebted lo th8 voluriteers who give so generously of their titne to help
the charity achleve Its abms.. our thanks to 811 ofthem.
Ensurlng thg future of tho Soclety and Its work.
The aftereffects ol the pandemic are still felt in the finances ol the SoeAety we continue to seek to rebuild our
reseNes 8nd althE same time delivw on our charitable activtties. The Hertlordshire Agrlculiural Society is fortunate
to own the showoround and be able to 191 the Sile fot Uses olhgr than the show over th6 y6ar. Tha ¢ommerd81
letting is carried out through the wholly owned substdiary of Hertfordshire Showground limited and all profrts 8re
tran5fgrred to th& sO￿ety. The subsidiary results are shown in this report and the WnpOrtan￿ of this income to Ihe
Sociely is evident from th8 awounts,
The Executive Director h8s worked hard thls y88r to continua d8V81oping relationships writh local authOrft￿s.
educational institutes Iprimary Ihrough lo 18rbary lev811, commercial interests, ieseaich 8St8blishm8nts and
cal business community. Much has been achieved but there is more lo do to promote the rural eoonomy in the
County. Th8rè Is no desire lo repeat what other rural organisalion are doing. so we work closeFy wilh the NFU and
tha CLA and many others ta CTea18 synergies.
Acknowl8dg8ments
The Tnjslees would like to expre88 Ih$ir gr8tgful th8nk$ to our Patron, L8dy Sallsbvry, loi her contlnued support
and valuable advice.
Our President durfng 2024 w8s lan Clarke and Trust6as would like tts thank lan for his SL4)POrt. ad￿￿ and hls
enthusiasm during his Ilme In office.

The Hertfordshlre Agricultural Soclety
Financial slalements for the year ended 31 December 2024
TRUSTEES, REPORT
The TwstÈes would also like to record thelr thanks for the ongoing support received fvom the Lord Lieutenant ol
Hertlordsh¢re, Mr. Robert Voss CBE CStJ Hon.LLD ha5 rernained an 8nthusia81ic supporter ol the Society.
Th8 Trustees rem8in evèrgrateful to our many sponsors, donors, and members forlheir continued SUPPLYt.
Internal and exl8mal factor8
The Society ¢onlinu88 to work wthin the goveinance structure established duiing the reorganisation of 2017.
Responsibility for the direction ol the Society vests Mth the Board ol Trustees. The Show Committee and Ihe
Executive are delemiined to deliver a County Show in 2025 which will be sale and compliant with any regulations
In force al the t4rn8.
Market Value of Land and 8ulldlng
The Trustees ar8 conlenl that the curient Tharket value ol the land owned by the Swely is £700,000, valued as
agricultural land in the condtlion as il stands today. Th6 office building has 8 book value In the accounts. after
annual depieciation. at £178.667 which is ¢onsidered to be a fair market V81ue.
Flnan¢lal revlew
Principal lunding sourc8S
The principal funding sourc8s for th6 Ch8rfty 8r6 generated by the Show. from traders, sponsors and lickel sales.
Society members contribute a sub8¢riplion. Hortlordshire County Showground Ltmlted is B wholly owned company
through whkh thè $howground is let tts third part￿$ and net revenues are pa88ed to the Sooety in the form ol a
donation.
Invesfm&ntpollcy and oDjectives
There are Trtrronly no fund5 invested ￿th the purpose ol earning addil'onal income for the charity. Th6 cash
resetve that the Socieiy hokls is held in an ordinary deposit account.
Re89fVQ5 policy
The charity is aiming to bulld m8rve8 10 a level whleh would provlde Itwith a measure ol resili8nc8 in th8 event of
t05t show or p0Orattendan￿.
Going conc8rn
The financlal statements have been prepared on 8 going concern basis. In making this assessment, the Trust8eS
have prepared detailed trading and cashflow forecasts lor the periad lo 31 Decetnber 2025. These forecasts have
been tsst8d 88 far as is possible to make clear the worst that any resurgen￿ of the pandemlc might entail. The
Executive nire¢tor and the Trustees have taken and continue to lake steps to miligale these risks. Th8 Tiustees
aré of the view that the chaffity will be abl8 to mo81 ils oblig8lK)ns as they fall due ovw this Iwelve month pwiod.
Revlew of the Year 2024
Attendan￿ al the 2024 showwas below antscipated levels due in large part to clashes w¢lh on8 ofevents such as
the BBC Big Weekènd in Luton. Trade stsnd sales were better th8n 2023 bul there is no doubt that the market is
changing with roughly 215 of the pre pandernlc trade regulars disappearing. The Food and Farmlng araa ol th6
show continues to be a fanlaslicexample ofhow lo fflake leaming engaging and fun and is acredit ￿the 8t8wardlng
team that wotk so hard make11 such a succ*ss. 11 P￿tS food and farming at haart olthe show.
The thlrd Schools day built on the succ8ss of tha first two ￿th an Increase in the number of thildrgn at the ev8nl.
The adage that seeing is believing was exemplified by this 8vent, th8 children were laught and challenged by what
they saw. Thanks lo all our sponsors and to local Couneillors who gave their tiEn& and support on the day and in
financial support from Herts County Counul funds.
The Tru8taé8 record thanks to the Executive Director and team bul also to thè sponsors. volunteers. trader4
members and wsitats who Enak8 thls 811 possible,
Princlpal r18k8 and unc8rtalntles
The Trustees have assessed th8 major risks io which Ihe chaiity is exFK)sed and 8r6 satisfied that they arè not
exposèd to any significant risks other than piincipal ￿sk being the weather on the show days. The w88th8r Can
have a signifiG9nt impact on attendance ol the show whFch in (um can significantly impa¢1 th& rev&nue geneyaled
in th6 year.

The Hertfordshire Agrlcultural Society
Fir)ancial statements for the year ended 31 December 2024
TRUSTEES, REPORT
STRu¢fuRE, GOVERNANCE AND MANAGEMENT
Govarning document
The Hertlord5hire Agricullu181 Society was founded on 22 July 1801. On the 4th April 1930 tho Socièty was fe-
consiiluied as a tlU8twilh Charitable Status. The Walford and Trlng showjoined the Hertfordshire Society in q945.
The charity was incoiporated as a Cornpany Limited by GUara￿te8 in 1981 and a Mefflorandum & Articles ol
Association was dr£wn up. In 2017 these were reviewed and updated, and a governing Board of Trustees
appointed. The SO￿&ty 18 a registered charity. In 2023 we ￿cOnStituted the Activity Committee as the Schools
Day Committeè lo provid8 the School's Day with the proper govorn8nCè It requiies, The work of the Activity
Commrttee. otherthan the School's Day, has been tran8fÈr18d to the Show Committee. Paul Cherry has agreed to
carry on as the Schools Committe8 chair until aft8r schools day Juty 2025.
R8crultm¢nt and appoSntment of Trusteès
The directors ol the company Ére also the Trustees of the charity for the purpose of Charity law and under the
company's Articles are known as the Board ol Trustees. The 8oard ol Trustees sh811 be composod of no f8wer
than four and not more than ten competent persons comprt51ng".
The Chair
Th8 Ch8ir Elect
The Chair ol the School's Day Commlttee
The Chair ofthe Sh¢)w Cofflmittee
Up to three elected TrusleÈs
Up to two external Trustees and
The fetiring Chair (Past ChaSrl. providing that he Dr sh8 agrees to remain on the Board and subject to the
8pproval of th8 Incotnlng Chair.
The TNstees may from tine to time at ￿1[ diserètlon d8t8rmin8 any critsria lor appointment as a Trustee.
Organlsatlonal structur
The Hertfordshire Agricultural Sociely has 8 Board of Trustees, this F8 headed by ils Chair (Richartl Percy) and two
sub-committees. the S¢hool'5 Day Comrnittee Ichair. Paul Cheiryl and the Show Committee Ichair.. Frazer
Crawleyl.
The day-to-day running olthe Society is undertakan by Ihb ExÈculiv8 Dlrector, Sar8h Moreland. She is responsible
for ensuring that the charity is managèd aff8etively in 8ccordance with the strategic direction set by the Board of
Trustees.
Indu¢tlon and tralnlng of nèw Tru5tee8
All naw Trustees arè invlted to at18nd a short training session to lamiliarise themselves wth the charity and to
undersiand their reswn$ibiSilies as a Trustee. These are loinlly led by the Chair and the Ex6culive Director, and
cover..
The obligat¢ons and responsibilities ol the trustees and the board
The operational framework lorthe charity induding the Memorandurn ar¥J Art￿leS
Resourcino and thè euir8nt fln8nci81 position.
Plans and objectives.
Wld•r netsyork
Thé Show m8intsins links wth other shows but is not tied ta these in any way. However, the Trustees and the
Executive Dire¢tar are keen to promote collaboration with other shows and theirorganising offieérs to promote the
sharing of best practise and resour￿ for the benefit of traders, coniP6titors and visltors. Sarah Moreland was
appointed to the Board of the Association of Show & AgiicuFtural Oiganisations IASAOI in 2023 and cOnt￿ueS to
sefve lorthTee year5.
Related partles
The Soriely owns 70 aeres of Sh¢)wground alongs(de the A5183 IA51 road, to the north ol Redboum and naar
Junction g of th8 Mf, wh8re the County Show has been held since 1962. Herts County Showground Lin)ited 15
Whol￿ owned subsidiary olthe Charity. It Is responsible forthe letting of the 5howground 8nd all profits are donated
the Charity.

The Hertfordshlre Agricultural Society
Financial statements for the year ended 31 December 2024
TRUSTEES, REPORT
Tntstees, re6ponsibllltl&s statement
The trustegs (who are also directors of The Hertfordshire Agricultural Society lor the purposes of company lawl
are responsible for pr8P8ring the Trusteo8' Annual Report and the financial slalements In accordance Mlh
applicable law and United Kingdom Accounting St£ndards (United K1ngdom Generally AC￿pted A¢counbng
PI8Cti(*l.
Company law requirés th8 trugtèos to prepare financi81 statemeRis lor tsach financi81 year. Under company lawthe
trustees musl not approve Ihe finanel81 slalemenls unle85 they ala satisfied that Ihey give a tiue and fair wew of
the slate ofaff8irs ofthe charitable Company and olthe incoming resources and application ol resource8, Including
the income and gxpenditure, ofthe Charitable company for that period. In prep2ring thésè financial stslements, the
trusteés ère required to..
s816Ct suitable accounting pollcies 8nd then apply thern ¢onsistenUy".
observe th8 rn6thods and principles in th8 Charities SORP 2019 IFRS 1021.,
make judgements and estiinates that a￿ reasonable and prudent.,
81816 whether 8pplicabl8 UK Accounting Standards have b@en followed.,
prepare the finaTraal statements on th6 going concern basis unless It15 Inappropriate to presum6 that
thè charitable company wlll contlnue In operation.
The trustees are r$sponsIb￿ for keeping adequatè aceounting records that disclose with reasonable accuracy at
any time the financial position of the charitable company and enable them to ensur6 that the finanri81 slaternents
comply with the Cornpanies A¢t 2006. They are also responsible for safeguarding the ass8ts of the charitable
company and hence for taking ￿asonable steps for Ihe prevention and de16ction of fraud and o¢h8r irfegularilies.
In 80 far ag the trustees are awaie".
there Is no relevant audit info
the truste98 have taken all
Inlomialion and to gstab.
of whith the charitablg company'5 auditor is unaware; and
that they ought to have taken lo rnake thémselves aware ol any relevant
hat Ihe independent 8x8mlner is aware of that infoTm8tlon.
Stuart RDberts
Ch8irm8n and Twslee
Date..
2025

The Hertfordshire Agricultural Soclety
Financial statements for the year ended 31 Decembef 2024
INDEPENDENT EXAMINER'S REPORT
Independgnt Examlner'$ Report to tho Trustee8 of The Hertfordshlre Agrlcultural Soclely
I report to the charity Trustees on my éxamination ol the financi81 statements of the ¢￿￿panY for tha yèar ended
3108cember 2024 whleh are 5gt out on pages 8 to 23.
ResponslbllltS88 and bas18 of report
As the Charity IrusleÈs of the company, yov are respons￿)19 ft)r the preparation of the financial statements in
accordance with the requirements ol the Compani68 Act 2006 {'Ihe 2006 Act'l
Having s81i8fied mysellthat the financaal statements accounts olth8 company are not required to be audi18d under
p£rt 16 of the 2006 Act and are ellgibEe for independent examination, I r8port in respect of my examination of your
company's accounts 8s cariied out under section 145 of the Charities Act 2011 I'lhe 2011 Act'l. In carrying out my
examination I have followed the Directions given by the Charily Commission ￿nder section 14515llbl of the 2011
Ind8pandent examIn0￿$ statement
sin￿ the company's gross income exceeded £250,OOOyourexaminermusttE a momb8rofa body listed In s6Ction
145 of the 2011 Act. l eonfimi th81 1 am qualified to undertake tha &x8mination because l am a member of Ihe
ICAEWwhich is onè of th8 listed bodies.
I have complelod my examination. I confifft that OD material matters hsve eome to my attention in connéctron wilh
th6 examination giving me eause lo believe that in any mat6ri#l resp8Ct'.
accounting records were not kept In respecl of the company as required by 8eclion 386 01 the 2006 Ad..
or
the financial st8t&nents do not accord with those records.. or
th8 financial statements do not comply wth the accounting réquirements ol section 396 of the 2006 Act
othei than any tBquirement that Ihe accounts giv8 8'1rue and fair view, which 1$ not a matter considered
as part ol an independent examlnation- or
the finanrial statements hav8 not been prepared with th8 niethods and prinuple5 01 thè stslamenl of
recomFnendBd practice for accountlng and r8POrting by charit￿$ lapplic8ble to charities preparing thelr
accovnts in accordance wllh the Financial Reporting Standard appllcabla in Ihe UK and Republic ol
Ireland (FR810211.
I h&v6 no concerns and have Come auoss no olher matters in connèction with the examination to which attention
should be drawn in this report in order to enable a proper U￿￿e￿tanding of the financid statements to be reached.
Steve Robinson
Mer(￿[ & Hale LLP Chartered Accountants
72 London R¢Jad
St Albans
Hertlordshire
AL11NS
Date".

The Hertfordshire Agricultural Society
Financial statements for the year ended 31 December 2024
STATEMENT OF FINANCIAL ACTIVITIES {INCLUDING INCOME AND
EXPENDITURE ACCOUNT
Unré5trTCt8d
Fund8
Re8trlcted
Fund$
Year
ond4d 31
D&c 2024
Yèar
8nded 31
De¢ 2023
Income and Expenditure
INCOME-
Oonations and18ga¢ies
36,511
23,101
59,612
55,703
Income from charitable acflvltles
Show
Other trading sclivit18S
Investment income
411,464
213.887
201
411.464
213,867
201
445,474
138.295
315
Total Incom¢
662 063
23,101
685,164
639 787
EXPENDITURE-.
Raising fund8
300,183
300,163
286,511
Expenditura on charftable
?ctlvitle8
Show
Sehools
Governance costs
393.059
393.059
23.101
7,344
342,381
19,729
8.565
23.101
7,344
Total Expèndltum
700,566
23,101
723.667
657.186
Net Incomèllexpendltur&l and
movem8nt In lund$
{38,5031
138,5031
117,3991
Re¢onclllatlon of funds
To181 fund8 brought forward
956,479
956.479
973,878
Total fÈtnds ¢arriod fO￿ard
917,976
917,976
956,479
Th6 stat￿ent of financxal activilies includes all gains and losses recognised In the year. All income and
expenditure derive fr(￿ continuing aotivities.
The accompanying aCGountlng w)licies and noies lomi an integral part Dt the financial statetnents.
A bre8kdtwin of the 2023 cornparalives can be found in note 22 01 thes8 financial statements.

The Hertford5hire Agricultural Society
Financial slalemenls for the year ended 31 December 2024
BALANCE SHEET
Note
31 Dec 2024
31 De¢ 2023
Fixed A¥88ts
Intangible assets
T£ngible assets
Invèstm8nts
12
13
925,918
925,949
925.919
925,950
Current Assets
Debtots
14
50,468
37.962
85,344
Cash 61 bank and in hand
s1,(￿7
Total Current A55ets
88.430
136,411
Creditors= Arnounts lalling dug within
one year
15
188,0391
ie7,5491
Nel Curront Assets
391
48,862
Total Assels lègs Currant
Llabllll￿s
926,310
974,8f2
Crnditors.. Amounts falling after
more than one year
16
18,3341
118,3331
Net Assets
917,g76
956,479
The funds of thfr charlty
Unrestricle(5 Funds
Restricted Funds
Revaluation Re88Tve
Total Cha￿ty Funds
17118
17118
17118
210,403
248,906
707,573
917,976
707.573
956.479
For the financial perEod 8t￿1￿9 on 31 December 2024 the company was entitled to exemption EEnder sectiDn 477 01
the Compani6s Aot 20Q6 ￿lating to small companies. No rnembers have required the company lo obtain an audit ol
its financial stateménts for the year in question in accordance with section 476 of the Compani8s Aei 2006.
The drrèctors a¢knO￿adge thgir responsilNIIty for eomplying wth the requlr6m6nls ol the Act with respecl lo
accounting record5 and fortho
reparation of financial 81alemenls.
These finanual stalem
to Ihe small compani
18ve been prepaTed in accordance with the provision8 applicable lo companies subject
eg4ne and in 8c¢ordance with the Financial Reporting Standard IFRS 1021.
Approved by t
ard ol Tru8tee8 on
stuart Roberts
Trusteè
Company numboy: 01872574

The Hertfordshire Agricultural Society
Financial statements for the year ended 31 December 2024
STATEMENT OF CASH FLOWS
Note
2024
2023
Cash used In operatfjng actlvitiès
Cash generated from operations
Int8r851 psid
20
10,920
11,1431
2.876
12.4591
Net cash used in operatiw acti￿tI￿S
9,777
417
Cash flows from investinu actlvltle$
Purchas8 of tangible fixed assets
Interest receiwj
113,0831
201
114,0151
Net ¢a8h from Investlng actlvit188
112.8821
113,8591
Cash flow8 from financlng activltlès
Bank loans received
Repayment ofbat* loan8
110,0001
110,0011
Net caBh from flnanclng a¢tlvltlès
110,0001
110,0011
Increase I Ide¢r8asel in Cash and cash equivalenis in the year
C8sh and cash equiva18nts at the beginning ol Ihe year
113,1051
s1,(￿7
123.4431
74,510
Cash and cash equlvalénts at the end of thè yaar
37,962
51.067
Cash at bank and In hand
37,962
51.087
10

The Hertfordshire Agricultural Society
Financial statements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
1. Legal Form
The Hertfordshire Agricultural Society is * prlvate company limited by guarantee without share capital and with
exemption fram the use of'Limited'. The ch81ity is incorpoiaied in Engl3nd and Wales and th& registered office
is Th6 Shawground, Dunstable Road, Redbourn. St Albans, Hertfordshire, AL3 7PT. The liability of each
Truste6 is limited lo ¢onlribiJting £110 the assets of the Charity in the event ol il being wound up while a trustee.
or wilhln on8 year afterce85ing lo b& a trustee.
At 31 Decemb8T 2024, the nuTnbei ol Trustees was 812023.. gi.
2. Accountlng Pollel•¥
Ttte prin￿paI accounting policies adopted, judgements an¢J k6y sources of eslimatiofi uncertainty in the
prep&r2tlan of the financial statetngnts are as follow5..
a) Basls of prep8ration
The financial slalements have been prepared in accordance with AcctyJnts"ng and Reporknng by Charities,.
Statement of R6eommended Praeuee ￿p￿1¢able ICF ¢h8ritles preparing their accounts in accordance with
th8 Financial Reporting Standard applicable in the UK Ènd Republic of Ireland IFRS 1021 leffectlve 1
January 20191- ICharlti8s SORP IFRS 10211, the Financi81 RÈF)Orting Standard applic8ble in the UK snd
Republic of Ireland and thè Companies Act 2006.
The Herlfoidshitv Agricultural Soci8ty meets the definition of a public benèflt enbly under FRS 102.
Assets and liabilities are Initial￿ recognised 2t historical cost or transaction valu8 unless Othemise ststsd
in the relevant acthunlino policy notes.
bl Pr8paration ol the financial Statements on 8 going COn￿rn basis
The financial staiements have prepared on 8 going con￿rn basis. In making this assessment, the
Trustees have prepared d8laile(S trading and cashflow lor6easts forthe pe￿0d to 31 D8￿Mber2025. Th888
show that the charity expects to be able lo meet ils otAigations as they fall due over this period.
cl Don8lion5
Monelary donations are accounted lorwhen received or when they meet tho d8finition ol income in part Idl
below.
A number ol indi￿dual￿ donate their time for the organisation and operation ol the County Show. It is not
félt that any reliabl6 value can be pla￿d on their lime so these donat8d 8eTvices are not tècounised in the
rin8ncial statements.
dl In¢ome
Income is recognl$trd when the Charity has entillement to the funds. any perfoiman¢x coThYitions attach8d
to the items of in¢orne have been rnet. il 1$ probable that the income will be received and the amounl can
be measured réliably.
el Interest [w￿1Vable
Interest on fvnd5 held on deposit is included when le￿1vable and the amount ean be m8asured reliably by
the Chanty., this is normally upon notifieation ol the interest paid or payable by the Bank.

The Hertfordshire Agricultural Society
Financial statements for the ye8r ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
Ac¢ounting Poll¢le6 l¢ontlnuedl
Fund accounting
Unrestricted funds 8re avallable to spend on activities that further any ofthe puiposes of Charity. Restrided
fullds are don£lion5 whlch the donor has specifie¢f are to be solely used for p3rticula¥ areas ol the Charity's
work or for specific pfojects being undertaken by th8 Charity.
gl R8stricled Funds
Restiicted funds are funds which are to be used in acaoidance with th8 specific res(llclians Imposed by
donors or which have beell raised by tho eharily for specific purwses. The aim ol each reslricted fund is
s21 out in the notes to the financial statoments.
h) Exp8rkdlture
Expenditure is recopnised oncs there ss a legal orconstruclive obligatk)n lo make & payment lo 3 thlrd party.
it is probablg that selllement VAII be required and the amounl of the obligation c&n be measured reliably.
Expenditure Is clas8ified under the foltowlng activity headings,.
I. costolrai5ing funds comprlsesthe coslof all aeiivilies noldlrectly attribulabl8to the HertfOrdShi￿ County
Show includlng all stsff and adminlstration costs.
2. Expenditure on charitable activitigs c(Nnprises all costs direclly attribuiabl& to the oroanlsation and
hosting of the Hertfr>rdshlre County Show including independent 8xamination fees and other non-audft
S8rvth cosls.
i) Governan￿ costs
Governance costs include indepéndent examination fees and othèr services delivered by the Independent
Examiner. These cosls hav8 been allocated to expeTh3iture on chariiable activitiès and are $81 out In note
jl Employee benefils
Tho 0)sts ofshort-tem) employ88 LEnefits are r8cognised as a liability and an eX￿nSe.
kl Tang¢ble fixed assats
Individual fixed assèts are initially m8asured at cost and subsequently measured al c05t or valuation. net ol
depredation and any Impaimient losses. Depreciation is ¥wnisÈd so as to write off the cost or valuatlon
ol assets over thelr useful economic lives on 3 st¥aight line basis as follows..
Asset Category
Annual rate
Freehold Property IBulldingl
Showground IFnprovem6nls
Show Equiprnent
Office Equipment
2% 01 cost
l￿A ol cost
25% of cost
25fjA of cost
12

The Hertfordshire Agricultural Soclety
Financi81 statements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
Ac¢ountlng Policl8s l¢ontlnuédl
A professional & independent valuation IRICSI was carried oul on the freeho￿ land & buildir¥J on 24￿ May
2017. The18nd was revalued as agricultural land at £405,(K)O after deducting the costs to remove the hard
standing araas and the Building was revalued 8t £200.000. The land was furth8r revalued by £295.000
during the 2020 y8ar to a valuè of £700,(KIO and the Trustees con5iderthe depreciated value olthe Building
of £178,687 to be 8 lair refiectlon af its market value.
11 Int8r>gltle fixed assets
Inl8ngibEe asset5 ale recognised at cost and ar8 subsequently ffleasu￿ at cost less accumulated
arrTrortisalion and accumulated impaimienl losses. All intangible fixed 8ssets are amorli5ed on a strayhl lin
basis overthe 88limated economic life of 4 years.
ml Inveslm6nts
The company owns 1W% of the share capital of Hert$ County Showground Limlted. This ￿ included i
unlis18d investm6nts at cost.
n) Stod(
Stock is indtrd8d at the lower of cost or net ￿all$able value, after making due allowance for Obso￿te or
slow moving items.
ol Debtors
Trade and other debtors are recognised at the settlement amount due after #ny tr8de discount offered.
P￿payM&nIs are valued at th& amount prep81d nÈl ol any trade discounts due.
pl Cash at bank and in hand
Cash al bank and eash In hand includes cash and short t8mi highw I￿UEd invg8lments with & short malurlty
of thr88 months or less from the date of acquisition or opèning ofthe deposit 01 similar account.
ql Creditors 8nd provisions
Creditors and pro%rysions are recognised where thè Charity has a presènt obligation resultillg from a past
event that will probably result in the tTansfer ol funds to a third party and the amount due to Setde the
obligation can be m68sured orestimaled reliably. Creditors end pro￿$10￿8 are nomially recognksed at their
88tt18ment amount 8ftèr allowng for any trade disojunts du8.
rl Flnancial instruments
The Chaiity only has financial assets and financial liabilities of a kind that qualify as basi¢ financial
inslruments. B88ic finan￿al inst¥uments are initially recognised at transa¢14'0n valsja and subsequentty
measured at their $8tt1ement valve.
sl Pension tosts
The Charity op6r8tes a defined conlrlbution penslon stheme for employees. The assets oflhe scheme 8ré
held separately from those ol the Chaiity. The annual contribut40ns payable are charged to the statement
of financial aetiw¢tès in the period to which they rel8te.
13

The Hertfordshire Agricultural Society
Financial stalemenls for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
Aecountlng Pollelès Icontinu8dl
tl Taxation
Th6 Gharity 18 exempt from tax on income and gains falliw withln section 505 of the Taxes A¢l 1988 or
section 252 of the Taxation of Ch8rgeable Gsills Act Igg2 to the extent that these are aprlied to its
charitable obj6ciives.
ul Grants
Government and other grants are recognised wh&n the Ch8rity has enlitlemenl to the funds, any
performanc9 conditions altach8d to the grants have been meL il is probable that th6 income will be received
and the amount can bE me3sured reliably.
3. Income from donatlons and sponsors
Unrestricted
Fund$
Restrlcted
Funds
Total 2024
Total 2023
Sponsors & donors
36,511
23,101
59,612
55.703
36,511
23,101
50,612
55.703
4. Income from charltable a¢tlvltles
Unr08trlctsd
Funds
Rèstrfcted
Funds
Totsl 2024
Total 2023
Show
Entr8n￿ & entry fee5
411.464
411,464
411,464
411,464
445,474
445.474
Othèr Tradlng Aetlvltles
Members subscriptlons
Donation f¥om Herts Showgfound
24.475
189.412
213.887
24.475
189,412
213.887
18,681
119,614
138,295
625,351
625,351
583,769
14

The Hertfordshire Agricultural Society
Financial statements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
S. Investment Income
Unr&strlcted
Funds
Re8trlcted
Funds
Totsl 2024
Total 2023
Wayleav68
Bank interest re￿ived
133
68
133
68
159
156
201
201
315
6. Cost of ralslng funds
Unrestrlct8d
Funds
Restricted
Fund$
Tot812024
Total 2023
Staff costs
Subconlracl 18bour
Rates, ele¢lricity, water & fuel
Insurance
156,296
29,634
4,805
11,618
4,289
2,716
40,700
785
1,242
3,495
7,469
6,996
13,115
6,366
2,159
156,296
151.347
26,020
7,188
9,274
4.357
2,775
27,619
4,805
11,618
4,289
2,716
40,700
785
1,242
3,495
7,469
6.996
13.115
6,366
2.159
Te￿phOne
Postage & 5talionery
Showground maintsnance
Legal & PTofesslonal
HR and training
Subscriptions
Office expenses
IT
1,961
3.460
10256
9,Q98
15.780
8,085
2,650
3,239
2.502
288,511
Depreciation and 8mortisation
B8nk ch8rges and inlere5t
Travel & Svbsistence
Sundry Expenses
B8d debts provision
Total 8xpendlture
8,478
300,163
8,478
3(KJ,163
7. Expendltur6 on charltable a¢tlvltl•s
Unrestrlct8d
Fund8
Restrfct6d
Funds
Total 2024
Total 2023
County Show
Schools Food and Famiing
393,059
393,059
23,101
342,381
19,729
23,101
393,059
23, 1Q%
416,160
362,110
15

The Herifordshire Agricultural Soclety
Financial statements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
8. ExpBndlture on governan¢e costs
2Q24
2023
Independanl examination fees
2.394
3.675
Other non-audit servl
4.950
4,890
7,344
8,565
9. Net M0￿M•￿t In funds
Thls18 Stated after charglng:
2024
2023
Independent 6xamlnalion f06S
Other non-audit sem￿$
Depreri81ion
Amortisation
2,394
4,950
13,115
3,675
4,890
14.615
1,129
10. Analys18 of Staff costs, Tyustee gxwnsos, and the cost of key management personnel
2024
2023
Salaries and wages
141,242
137,119
Social setsjrity ¢osts
8,224
7,679
Pension costs
6,830
6,549
156,296
151,347
The numb8r of ernploy8ES whose ￿M￿oYee benefits lexcludlng employèr pension costs) exceeded £60,OOCI
was O (2C123." 01.
The Charity TTUStees were Dot paid remuneration Dr received any other benefits from ernploymenl with the
Charity during the ye&r12023'. £nill. TrLssl885 were reirnbursed expenses during the year of£nll12023.. £nill.
The averagg monthly numbèr ol persons emplDy8d by the ChaEtty during the yearwas as follows..
2024
2023
Number
Numbér
Exe¢uliv8 Dire¢tOT
Administration
11. Intanglbl? fixed ass8t#
16

The Hertfordshire Agricultural Society
Financial statements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
Website
Cost
At 1 January 2024
Additions
Disposals
At 31 D&cember 2024
16,618
Iq6,6181
Amortlsatlon
Al 1 January 2024
Charge lor the year
Eliminated on disposal
At 31 De￿M￿r 2024
16,618
116.6181
Net book value
At 31 ne￿mber 2024
At 31 De￿M￿r 2023
12. Tanglblt flxed a88ets
Freehold land Showground
and prop8tty Improvemènts
Show
Equlpm•nt
Oflfce
Equlpment
Total
Cost or valuatlon
At 1 January 2024
Additions
Al 31 Detsmber 2024
900,000
356,964
2.010
358,974
149,864
4,724
154.588
32,674
6,349
39.023
1,439,502
13.083
1,462.585
900,000
Deprèciatlon
At 1 January 2024
Charg8 for the perfocj
At 31 Dac¢mber 2024
21,333
4,000
25,333
322.903
7,144
330,047
137.619
1,573
139,192
31,698
398
32,096
613,553
13.115
626.668
Net book valve
At 31 Dec8rnber 2024
874,687
28,927
15.397
6,927
926,917
AL 31 December 2023
878 667
34,(￿1
12,246
976
Dep￿datiOn of the freehoks prapetty r61ates only to the buikling.
13. Fixed asset investments
17

The Hertfordshire Agricultural Soclety
Financial statements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
Unlisted
Investments
C￿t
At 1 January 2024 and 31 Oecembgr 2024
Net book value
At 31 Decemb&r 2024
At 31 D8￿mber 2023
The charity's Investm￿($ In the share capital of companies at the balaTh￿ sheet dale include the followng..
Name of undertaklng
R?g15tered
Nature of
buslnèss
Class of
Bhare5 held
°A Holdlng
Dirèct
Indlr•ct
Herts County Showground Limited England and Lettings
Wales
Ordinary
100.00
14. Debtors
2024
2023
Trade debtors
Amounts owed by group undertaking8
Prepayments and accrued income
VAT 18¢laimab
Other debtsxs
42,245
407
7,816
23,833
48,055
11,358
740
1,358
50.468
85.344
15. Credltors.. amounts falllng duo wlthln onè year
2024
2023
Bank loans and ovardrafts
Trade creditors
Taxation and social 88curity
other creditors
Accruals 2nd deferred Incl￿ne
VAT payable
10.000
16,2ts5
6,403
1,738
50,254
3,379
88.039
10.000
39,471
3,378
155
34,545
87.549
Barclays Bafik hold a legal charge over th8 freehold of the charity, cov8ring all amounts owed to them by th8
Charlly.
Included En acGw818 and deferred ineome is £2,12512023', £NIII ￿lating to nwntes recswed for the Schools Ev8nl.
18

The Hertfordshire Agricultural Society
Financi81 statements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
16. Credltors= amounts falllnu due aftèr more than onè year
2024
2023
Bank loans and ov8rdrafts
8,334
18,333
8.334
18,333
£nil (2023.. £nlll of the above balan￿ is payablg after morè than 5 years.
17. Analys1# of chailtable funds
Analy$i$ of movoments In eharitable funils
Balance at
Balance at
1 January 2024
Income
Expendlture
31 De¢amber 2024
Unrè$trlcted
funds
248,906
662,063
1700,5661
210,403
Revaluatk)n
reswve
707.573
707.573
Restrict6d
funds
23.101
123,1011
Total
956,479
685,1É34
1723,6671
917,976
19

The Hertfordshire Agricultural Society
Financial statements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
Analysls of movéments in ¢h*rltsble fund8- prlor year
Balance at
Balance at
1 January 2023
In¢om81
Revaluatlon
Expendlture
31 December 2023
Unrestr
fL¥nds
639,787
1857,1861
248,906
266,305
Revaluation
reserve
707.573
707,573
Reslrided
funds
Totsl
973,878
639.787
le57,1861
956.479
18. Analysls of re8trlct8d funds
Balance at 1
January 2024
Income
Expendlturè
Balancè al 31
De¢ember 2024
Schools Food and Faming
and Day
23.101
123,1011
Total
23,101
123.1011
This fundlng was a one off donation to b8 used towards the HertfOrdshI￿ Schools Food and Farming Day.
19. Analy81s of nèt assets In unrestrlcted funds
Analy$ls of nèt asset movements In funds
Frèè
Rese￿￿8
Attrlbutable to
flxed assets
Total 2024
alance at beginning of year
30.529
925,950
956.479
N81 movem8nl in funds
138.4711
1321
138,5031
Balarteè at end of year
17,9421
925.918
917,976
20

The Hertfordshire Agricultural Society
Financial slalemenls for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
Analysls of net assèt movements In funds- prloryear
Freo
Reserves
Attr1b￿table to
fixed assets
Totsl 2023
Balan￿ at beginnlng of y8ar
46.164
927,714
973,878
Net movÈtllenl in funds
115,6351
11,7641
117,3991
Balance at end of year
30.529
925.950
956,479
20. Reconclllatlon of net movemoht In fund8 to net ¢ash Itow from operatlng aetivi¢iè8
2Q24
2023
N6t movement in fijnds
138,5031
117,3991
Depreciation and 8mortisalion charge
13.115
15,780
Int8r8sI re￿1Ve￿ shown ID investing actmlies
12011
11561
Interest P8id shown in operatlng acltvities
1,143
2,459
Decrease in stocks
DeNeas8 1 lincreasel in debtors
34,876
18681
(Decrease) l increase in creditors
490
2.860
10.920
2,87e
21

The Hertfordshire Agricultural Society
Financial statements for the year ended 31 Deceml)er 2024
NOTES TO THE FINANCIAL STATEMENTS
21. Related party trAnsactlon$
During the year ended 31 December 2024, the ChaTrty pu￿hased goods from W.J Dld(inson & Sons IF8m)ersl
Lid amounting to £94512023.. £Nill, olwhich W J Diektnson is r&lated. The Charity also purchased insurallce from
NFU Mutual arnounting to £11,82012023.. £9,274), and made sales of £3,732 12023". £4401 ol which C R Porcy
was a director. The charity a150 purchas8d goods from Sentry Limlted amounting to £72012023_. £Nill of which P
E Christian is 8 diiector. The ¢harily also received donations from Groundswell Agricutture Lld of £5,22612023'.
£Nill olwhich Paul Cherry is a direclor.
HÈrts County Showground Limited is a wholty owlled subsidtary of the Hertford$hire Agr￿Ultural So¢￿ty. A total
donation of £189,41212023.. £119.6141 has been recelved from H8tts County Showground Limited.
Atthe period &nd, an amount of£407 was due to Herts County Showgraund Limlted12023'. £48,055 due from H8rts
County Showgroundl.
22. Comparatlv& Statemènt of Flnancl87 Acilvlty
22

The Hertfordshire Agricultural Society
Financial slalements for the year ended 31 December 2024
NOTES TO THE FINANCIAL STATEMENTS
UnrÈ8trlcied
Funds
Re$trl¢t•d
Funds
Total
2023
Income and Exp•nditure
INCOME..
Donations and legacies
55,703
55,703
Income from charltable atttlvltles
Show
Other tradin9 acliwties
other income
Investment income
445,474
138,295
445,474
138,295
315
31S
Total Income
639,787
639 787
EXPENDITURE..
Raising funds
286,511
286,511
Expendlture on eharltab18 a¢tlvltles
Show
Schools
Govemance costs
Total Expendlturo
342,381
19.729
8,565
857,186
342.381
19,729
8,565
657,186
Net movement In funds
117.3991
If7,3991
Rteoncillatlon of funds
Tot81 funds brought forwar
973,878
973,878
Total funds carrl4d fonpnrd
956,479
956,479
23