Leighton Buzzard & District Young Farmer’s Club
Report and Financial Statements
2023/2024
ADMINISTRATIVE INFORMATION
Charity Number 292477
Management Committee
Alex Morris Jemma Flitton Bethany Thorne
Committee
Jemma Flitton (Chairman) Alena Murrell (Vice – Chair) Bethany Thorne (Secretary) Maddie Knightley (Treasurer) Oliver Pearse and David Woods (Livestock Officer) Jessica Faulkner (Programme Secretary) Alena Murrell (Social Media) Meghan Connolly and Tristan Murrell (Social Secretaries) Jess Faulkner (Safeguarding Officer) Maddie Knightley (Membership Officer) Alfred Ashby (Junior General Committee Member) Jonnie Brown, Harry Brown and Oliver Garnham (General Committee Members)
Advisory Committee
Dave White, Henry Hunt, Abi Chappell, 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
Frances Woods, The Hay Barn, The Lynch, Kensworth, Dunstable, Beds, LU6 3QZ
Bankers
Barclays 1 Churchill Place London E14 5HP
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 2024.
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 are de facto the trustees as outlined in our constitution and required by the National Federation of Young Farmers. Their 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 and associated persons 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 activates
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:
• For LBYFC – Pie and Pint Night £1112.87, Christmas Dinner Dance £2147.83, Stock Judging Meeting £246.72, Breakfast Morning Fundraiser £628.81, 90[th] Anniversary Party £380.18, Neon Party £3415.12
• For our chosen charity East Anglian Air Ambulance – BBQ at local music event £42.84, Pie and Pint Night raffle £525, Christmas Dinner Dance Raffle & Auction £1205.24, Stock Judging Meeting bake sale £90.42, 90[th] Anniversary Party raffle/bake sale/lucky dip £1312.85, cricket match BBQ £274.70, other donations £457.20. Total raised £3908.25
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.
In the year 2023/24, 70 people became or continued as members of the club, a slight decrease from the previous year. Since the COVID 19 pandemic we have operated with fewer members (previous to this we were at more than 100) so we have tried to keep membership fees frozen as much as possible to encourage sign ups while also covering the cost of our levies to the National Federation of Young Farmers Clubs.
Net Incoming Resources
We achieved a net income across our accounts this year of £5540.59, of which £225.31 was interest gained from our 2 savings accounts. Included in this calculation is the outgoing amount for the 2022/23 chosen charity (£1331.53) in September 2023, but not the donation of the money we have raised for our 2023/24 charity (£3908.25) which will go out in the 2024/25 accounts. Even taking this into account we have had a good year financially and will therefore be able to make some investments into our members next year.
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 East Anglian Air Ambulance. The monies raised are designated restricted funds and are to be donated to the charity in September 2024.
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
m (HARIIY IOMMISSION Fcrk ETrLAND WAtIS Independent examlnerfs report on the accounts Section A IDdopÈDdent ExaminÈT's Report R•porttoth•try$ty•s 31 A4&¥l57 203L Df •nyl 145LIthB 2011 AL# •)J fft fxrywfj 1 Iw 145(SXbld thB AIX Ind•p•nd•nl •xoMlrY) •tt b•*kn WlGl•) or b Od2018
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2023-24 SUMMARY OF ACCOUNT Balance Sheet 2023-24 Account enin Closin Community Martin Senior £4,931.24• £9,427.77 £2,447.96 £2,532.08 £8,702.79 £10,843.98 £1,501.25 £320.00 Business Reserve Cash Total £17,583.24 £23,123.83 Excess Incomi £5,540.59 In¢omelExp¢ndltur¢ Summary Income Membership Ev•nts Meetings Club ¢lolhinq Charity MceILqr(A 2022.23 t3,765.00 £18,892.40 £431 00 £720.00 £1,331.53 £1,499.55 2023.24 t3.69S.C#) £31.128.19 £920 45 £1.750 00 £4.008.25 £1,952.00 Ex ndrturt Competsts)ns E¥ents MeeliThJ$ ¢b ¢k)Ilw Charity MYscelkrOu¥ 2022-23 £2.032.41 £14.141.97 £2.602.72 £0 £937.ts) £5.889.55 2023-24 £2.011.41 £23.392.88 £2.860.75 £1.827.54 É1.831.53 £8,214.50 Net Income Events Meetsrvjs Club cbthr Charity miKellarUs 2022.23 £4.750.43 -£2.171.72 £720.00 2023-24 £7.735.31 41.940.30 -£77.54 See separate sheet 6.262.$0 4.190.00 Charlty Money Ralsed Bank Trartsfer Cash £1.446.Be £2.561.37 £1W ofllMS EMA frxlrade4Jp Chalerge" Totsl ratsed fw ¢h•rity: £3.908.25 ready pavj £5t#J back for TraUP Chakree1£4CQ ratsed pth £1W sent from EA) SM to drffjate £3.$08 25
ACCOUNTING POLICIES
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 1/9/2023 to 31/8/2024 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.