2023-08-31-accounts - Leighton Buzzard Young Farmers' Club

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Leighton Buzzard & District Young Farmer’s Club

Report and Financial Statements 2022/2023

CONTENTS ADMINISTRATIVE INFORMATION ............................................................................................................ 3 Charity Number ......................................................................................................................... 3 Management Committee ........................................................................................................... 3 Committee ................................................................................................................................. 3 Advisory Committee .................................................................................................................. 3 Address for Correspondence .................................................................................................... 3 Independent Examiner .............................................................................................................. 3 Bankers ..................................................................................................................................... 3 MANAGEMENT COMMITTEE REPORT .................................................................................................... 4 History, Objectives and Activities of the Charity ........................................................................ 4 Management and Governance Arrangements .......................................................................... 4 Assessment of Major Risks to the Charity ................................................................................ 5 Achievement and Performance of the Charity .......................................................................... 5 Financial Review and Reserves ................................................................................................ 5 Net Incoming Resources ........................................................................................................... 5 Reserves Policy ........................................................................................................................ 6 Restricted Funds ....................................................................................................................... 6 TRUSTEES’ RESPONSIBILITIES IN THE PREPARATION OF FINANCIAL STATEMENTS ................... 7 INDEPENDENT EXAMINERS REPORT TO THE MANAGEMENT COMMITTEE OF LEIGHTON BUZZARD AND DISTRICT YOUNG FARMERS ........................................................................................ 8 STATEMENT OF FINANCIAL ACTIVITIES ................................................................................................ 9 ACCOUNTING POLICIES ......................................................................................................................... 11 Basis of Accounting ................................................................................................................. 11 Income .................................................................................................................................... 11 Expenditure ............................................................................................................................. 11 Taxation .................................................................................................................................. 11 Unrestricted Funds .................................................................................................................. 11 Restricted Funds ..................................................................................................................... 11

ADMINISTRATIVE INFORMATION

CHARITY NUMBER

292477

MANAGEMENT COMMITTEE

Will Roff Meghan Connolly Oliver Garnham

COMMITTEE

Oliver Garnham (Chairman) Molly Mead (Vice – Chair) Megan Connolly (Secretary) Lucy Heast (Treasurer) Will Ludgate and Joe Pratt (Livestock Officer) David Woods and Oliver Pearce (Programme Secretaries) Alena Murrell (Social Media) Bethany Thorne and Frankie Lamb (Social Secretaries) Maddie Knightley (Safeguarding Officer) Owen Hearn (Membership Officer) Jess Ludgate (Junior General Committee Member) Jonnie Brown, Alex Way, Lucy Baylis and Anthony Berry (General Committee Members)

ADVISORY COMMITTEE

Dave White Henry Hunt Abi Dean Will Roff Anna Stone Amy Michie Richard Brown Chris Mead Matthew Alexander

ADDRESS FOR CORRESPONDENCE

Mead Open Farm, Stanbridge Road, Billington, Beds, LU7 9JH

INDEPENDENT EXAMINER

Ailsa Knightley, 1 Dean Road, Stewkley, Bedfordshire, LU7 0ET

BANKERS

Barclays 1 Churchill Place London E14 5H

MANAGEMENT COMMITTEE REPORT

The Management Committee, who are the Trustees, have pleasure in presenting their report and the financial statements of the charity for the year ending 31st August 2023.

HISTORY, OBJECTIVES AND ACTIVITIES OF THE CHARITY

Leighton Buzzard and District Young Farmer’s Club is a registered charity (number 292477) and is constituted under a scheme of charity commissioners dated 4th October 1984, a document updated in September 2016. The club was founded in March 1934 for children of local farmers to demonstrate their calve rearing ability to friends, family and other farmers. After a closure of several years during WW2 the club was adopted by the National Federation of Young Farmers which had since come into existence and has successfully supported young people in the area to this day.

LBYFC objectives are: (A) advance the education of young members of the public at large in agriculture, home crafts, country life and related subjects and (B) in the interests of the social welfare of such members 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 responsibility so that they may grow to full maturity as individuals and members of the community.

The club’s activities are structure so that members may receive training, entertainment, personal & professional growth and have the ability to assist in fundraising for our own charity as well as others, this forms part of our annual giving and community involvement programme. These activities take place in Leighton Buzzard and the surrounding counties of Bedfordshire and Buckinghamshire.

MANAGEMENT AND GOVERNANCE ARRANGEMENTS

The club committee is appointed from primarily members who fall between the ages of 10 and 28 but can and does include persons outside of this age.

The members of the management committee responsibilities are to keep the group on track, overview the finances and make sure the money is spent wisely. They will also advise the club on matters of insurance, member exclusion and Health & Safety.

The advisory committee is made from ex members who have an understanding of how the club is run and have skills that can aid the club in its growth and day to day activities.

ASSESSMENT OF MAJOR RISKS TO THE CHARITY

The management committee has concluded its own review of the major risks to which the charity is exposed and maintains a risk register which is regularly reviewed and updated. The majority of these risks relate to member services and the running of fund raising activates.

Risks are minimised by ensuring that proper procedures are in place for authorising payments, the control of money and the creation of a risk assessments for each event.

ACHIEVEMENT AND PERFORMANCE OF THE CHARITY

Fundraising Events

The club held a series of fundraising events this year for their own benefit and on behalf of other charities, these contributed to the results of the club as follows:

Yellow Wellies (Chosen charity for 2022 – 2023) - £1331.53
Pie and Pint Night - £1,064.53
Christmas Ball - £867.50
County Stock Judging Event - £386.20
Breakfast Fundraiser - £480.57
Summer Neon Party - £2,600

All fundraising amounts above are after expenses except for charity donation to Yellow Wellies.

At present it is not expected that any of these events will be removed from the social calendar, however a few more may be added

FINANCIAL REVIEW AND RESERVES

The committees of Leighton Buzzard and District Young Farmer’s Club wish to express their gratitude to our supporters for providing subscriptions, donations and sponsorship.

Subscriptions in the year 2022/2023 74 people became or continued as members of the club. This number of members is good for the club, but it means that levy payments will increase so the club may need to do additional fundraising to help with running costs of the club.

NET INCOMING RESOURCES

The Financial Year for the club is in line with our membership year, ending 31 August each year.

The general running costs of the club remained level with the previous year, but as you’ll see charity income increased from 2021 – 2022 (£917 compared to £1331.53 this year), this is because the club decided to focus more on raising money for the chosen charity. In 2022 – 2023 the club made a profit of £1,287.96.

RESERVES POLICY

The Management Committee has established a policy whereby the unrestricted funds not committed or invested in fixed assets held by the charity should be 6 months of the resources required to carry out the activities of the club.

This policy is not necessarily required as the club has no running costs relating to buildings or vehicles, if we needed to halt fundraising activates there would be no requirement to spend a large proportion of accumulated funds.

RESTRICTED FUNDS

The club has worked hard on fundraising this year on behalf of Yellow Wellies, the monies raised are designated restricted funds and are to be donated to the respective charities before the end of the financial period.

TRUSTEES’ RESPONSIBILITIES IN THE PREPARATION OF FINANCIAL STATEMENTS

Law applicable to charities in England and Wales requires the Trustees (who are the Management Committee) to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements, the management committee is required to:

A. Select suitable accounting policies and then apply them consistently.
B. Make judgements and estimates that are reasonable and prudent.

C. State whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements.

D. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Management Committee is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

INDEPENDENT EXAMINERS REPORT TO THE MANAGEMENT COMMITTEE OF LEIGHTON BUZZARD AND DISTRICT YOUNG FARMERS

STATEMENT OF FINANCIAL ACTIVITIES

1 September 2022 – 31 August 2023

Income Charity Income Clothing Sales Income Events Income Christmas Ball Ticket Sales Club Breakfast Fundraiser income Club Exchange Income Cricket Income Pie and Pint Night Income Stock judging Income Summer Ball Income Total Events Income Interest Income Members Meetings Income Gravity Trampolining Wreath Making Zorb Football Milton Keynes Total Members Meetings Income Membership Income Rally Income Dance Bus Dance Tickets Yearbook Sales Total Rally Income Uncategorised Income Total Income Total Expenditures Admin Expenses Quickbooks Trophy Engraving Total Admin Expenses Charity Expenses Competitions Expenses Tug of War Boots Total Competitions Expenses Event Expenses Christmas Ball Expenses Club Breakfast Fundraiser	Total
	1,331.53 720.00 8,360.00 686.98 613.00 205.00 1,621.53 463.26 6,942.63
	£18,892.40 52.13 96.00 170.00 165.00
	£431.00 3,765.00 400.00 440.00 630.00
	£1,470.00 29.55
	£26,691.61
	£26,691.61 333.60 81.00
	£414.60 937.00 17.00 1,235.00
	£1,252.00 7,492.50 116.41

Hall hire Club Breakfast Total Club Breakfast Fundraiser Club Exchange Expenses Cricket Expenses Pie And Pint Night Expenses Bar Stock Food Stock Venue Hire Total Pie and Pint Night Expenses Stock judging Expenses Summer Ball Expenses Bar Stock Decorations Licence Security Toilet Hire Total Summer Ball Expenses Total Event Expenses Kiddies Party Expenses Levy & Insurance Expenses Members Meetings Expenses Bowling County Meeting Contribution New Members Night Expenses Quiz Expenses Venue Hire Total Quiz Expenses Rally Results BBQ Expenses Rally Signup BBQ Expenses Venue Hire Wreath Making Expenses Total Members Meetings Expenses Miscellaneous Expense Rally Expenses Competition Materials Dance Tickets Float Transport Yearbooks Total Rally Expenses Total Expenditures Net Operating Income Net Income/(Expenditure)	90.00
	£206.41 1,269.25 155.00 114.93 284.47 50.00 108.00
	£557.40 77.06 1,240.00 1,583.92 205.87 21.00 604.80 684.00
	£4,339.59
	£14,097.21 44.76 3,149.41 1,025.65 303.96 118.99 63.61 52.50
	£52.50 447.20 85.81 55.00 450.00
	£2,602.72 105.54 25.99 490.00 754.42 780.00 750.00
	£2,800.41
	£25,403.65
	£1,287.96
	£1,287.96

ACCOUNTING POLICIES

BASIS OF ACCOUNTING

The financial statements have been prepared on a cash basis rather than accruals as used in previous years, this is to simplify the task and bring us in line with accounting standards used by our county federation. This means any outstanding cheques that have been drawn against the charity but not banked will remain in this year’s accounts.

INCOME

Income represents amounts received and receivable by the charity during the period. Gifts in kind such as borrowed land, free services and professional help have not been assigned a value so are not included.

EXPENDITURE

Expenditure relates to monies spent by the charity in the period 1/9/2017 to 31/8/2018 and not to payments made outside of these dates even if relating to this time.

TAXATION

The club is a charitable institution with exemption from UK taxation under section 505 of the Income and Corporation Taxes Act 1988.

UNRESTRICTED FUNDS

Unrestricted funds are funds that can be used in accordance with the charitable objects at the discretion of the Club Committee.

RESTRICTED FUNDS

Restricted funds are funds that can only be used for particular purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular purposes.