##
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||||||Page|
|---|---|---|---|---|---|
|The Association
and its||officers, professional|advisers|and bankers||
|Report ofCouncil||||||
|Independent|auditors'
report||||8-11|
|Consolidated|statement|offinancial activities|||12|
|Consolidated|balance sheet||||13|
|Company
balance sheet||||||
|Consolidated|statement|ofcash flows|||15|
|Notes to the|financial statements||||16-30|
##
|President||||E D Fursdon,
HM The Lord-Lieutenant|E D Fursdon,
HM The Lord-Lieutenant|E D Fursdon,
HM The Lord-Lieutenant|of Devon|
|---|---|---|---|---|---|---|---|
|President|Elect|||T L Hammett||||
|Chairman|ofCouncil|||Mrs M EQuicke|MBE DL FRAgS|||
|Vice Chairman|||of|ST R Stevens||||
|Council||||||||
|Honorary|Treasurer|||Sir Henry Studholme||BtDL FCA CTA||
|Honorary|Show||Director|ST RStevens||||
|Chairman|ofBoard of|||JA TLee OBE DL FRAgS||||
|Management||||||||
|Association||Secretary||R L Maunder
ARAgS||||
|Board of Management||||||||
|Elected Members||||JA T Lee OBE DL FRAgS - Chairman||||
|||||Mrs D Custance|Baker|||
|||||T L Hammett
(resigned 6September 2021)||||
|||||M H Retallick||||
|||||N Llndsay-Fynn|MA Oxon|||
|||||A Gray (appointed 6 September 2021)||||
|ExOfficio||||Mrs M EQuicke|MBE DL FRAgS|||
|||||ST R Stevens||||
|||||Sir Henry Studholme||BtDL FCA CTA||
|Company|registered|||||||
|number||||01927330||||
|Charity registered||||||||
|number||||292897||||
|Registered|office|||Westpoint||||
|||||Clyst St Mary||||
|||||Exeter||||
|||||EX51DJ||||
|Auditors||||Bishop Fleming
LLP||||
|||||Chartered
Accountants||||
|||||Statutory Auditors||||
|||||2nd Floor Stratus|House|||
|||||Emperor Way||||
|||||Exeter Business|Park|||
|||||Exeter||||
|||||EX13QS||||
|Bankers||||NatWest Bank Pic||||
|||||246 High Street||||
|||||Exeter||||
|||||EX43PD||||
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||||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|funds|
||||||2021|2021|2021|2020|
|||||Note||E|||
|[NCOME FROM:|||||||||
|Donations
and grants|||||63,290|45,585|108,8?5|110,211|
|Charitable
activities|including||County||||||
|Show||||||1,137,923|1,137,923|81,396|
|Other trading
activities||including|||||||
|Westpoint
income||||||T09,230|709,230|780,971|
|Investments||||||91,013|91,013|82,085|
|TOTAL INCOME|||||63,290|1,983,751|2,047,041|1,054,663|
|EXPENDITURE ON:|||||||||
|Raising funds||||||280,976|280,976|332,109|
|Charitable
activities|including||County||||||
|Show|||||63,290|'l,412,059|1,475,349|895,226|
|TOTAL EXPENDITURE|||||63,290|1,693,035|1,756,325|1,227,335|
|NET MOVEMENT|IN FUNDS|||||290,716|290,716|(172,672)|
|RECONCILIATION|OF|FUNDS:|||||||
|Total funds brought|forward||||1'I,613|2,753,616|2,?65,229|2,937,901|
|Net movement
in funds||||||290,T16|290,T16|(172,672)|
|TOTAL FUNDS CARRIED FORWARD|||||11,613|3,044,332|3,055,945|2,765,229|
##
##
|||||2021||2020|
|---|---|---|---|---|---|---|
|||Note|||||
|FIXEDASSETS|||||||
|Tangible assets||||3,252,011||3,396,714|
|||||3,252,011||3,396,714|
|CURRENT ASSETS|||||||
|Debtors|||204,105||239,510||
|Cash at bank and|in hand||854,390||139,157||
||||1,058,495||378,667||
|Creditors: amounts|falling due within one||||||
|year||12|(497,220)||(608,010)||
|NET CURRENT ASSETSI(LIABII ITES)||||561,275||(229,343)|
|TOTAL ASSETS|LESSCURRENT||||||
|LIABILITIES||||3,813,286||3,167,371|
|Creditors: amounts|falling due after more||||||
|than one year||13||(757,341)||(402,142)|
|TOTAL NET ASSETS||||3,055,945||2,765,229|
|CHARITY FUNDS|||||||
|Restricted funds||14||11,613||11,613|
|Unrestricted
funds||14||3,044,332||2,753,616|
|TOTAL FUNDS||||3,055,945||2,765,229|
##
##
|||||2021||2020|
|---|---|---|---|---|---|---|
|||Note||E|||
|FIXEDASSETS|||||||
|Tangible assets||||3,252,011||3,396,714|
|Investments
in subsidiary||||2||2|
|||||3,252,013||3,396,716|
|CURRENT ASSETS|||||||
|Debtors|||101,712||82,736||
|Cash at bank and|in hand||854,390||139,157||
||||956,102||221,893||
|Creditors: amounts|falling due within one||||||
|year||12|(554,197)||(648,042)||
|NET CURRENT ASSETSI(LIABILITES)||||401,905||(426,149)|
|TOTAL ASSETS LESSCURRENT|||||||
|LIABILITIES||||3,653,918||2,970,567|
|Creditors: amounts|falling due after more||||||
|than one year||13||(757,341)||(402,142)|
|NET ASSETS||||2,896,577||2,568,425|
|CHARITY FUNDS|||||||
|Restricted funds||14||11,613||11,613|
|Unrestricted
funds||14||2,884,964||2,556,812|
|TOTAL FUNDS||||2,896,577||2,568,425|
##
##
|||2021f|2020|
|---|---|---|---|
|Cash flows from operating|activities|||
|Net cash generated
by operating
activities (see note 16)||337,321|205,381|
|Cash flows from investing|activities|||
|Purchase oftangible fixed assets||(68,336)|(453,286)|
|Net cash used in investing|activities|(68,335)|(463,286)|
|Cash flows from financing|activities|||
|Cash inflows from new borrowing||500,000|450,000|
|Repayments
of borrowing||(53,763)|(95,391)|
|Net cash used in flnancing|activities|446,247|354,609|
|Change
in cash and cash|equivalents
in the year|715,233|106,704|
|Cash and cash equivalents|brought
forward|139,157|32,453|
|Cash and cash equivalents|carried forward|854,390|139,157|
|The notes on pages 16to 30form part ofthese financial statements||||
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|TRADING ACTIVITIES|- WESTPOINT|||
|---|---|---|---|
|||2021|2020|
|WESTPOINT TRADING|INCOME|||
|income||709,230|780,970|
|WESTPOINT TRADING|EXPENSES|||
|Expenditure||659,961|596,506|
|Net income from trading|activities - Westpoint|149,269|184,464|
##
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021f|2021f|2020
F|
|Rental|income|91,013|91,013|82,085|
|TOTAL|2020|82,085|82,085||
##
##
##
|INCOME TY|PE|BYCHARI|TABLE ACTIVITY|||
|---|---|---|---|---|---|
|||||2021|2020|
|The Devon County Show||||||
|Show admission||and ticketing||605,358||
|Trade stands|and|tendered|contracts|364,161||
|Sponsorship|and|donations||91,915|8,600|
|||||1,061,434|8,600|
|Other income||||||
|Membership|income|||41,911|43,602|
|Other income||||34,581|29,194|
|||||76,492|72,796|
##
##
|||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2021
E|2021|2021|2020f|
|Donations|||2,370|2,370|10,382|
|Government|grants|63,290|43,215|106,505|99,829|
|TOTAL 2021||63,290|45,585|108,875|110,211|
|TOTAL 2020||66,586|43,625|110,211||
##
##
##
||||||Activities||||
|---|---|---|---|---|---|---|---|---|
||||||undertaken|Support|Total|Total|
||||||directly|costs|funds|funds|
||||||2021|2021|2021|2020|
||||||f.|E|E||
||The Devon|County Show|||580,348|895,001|1,475,349|895,226|
||Total 2020||||88,323|806,903|895,226||
||ANALYSIS|OF SUPPORT||COSTS|||||
||The Devon|County Show|||||||
||||||||Total|Total|
||||||||funds|funds|
||||||||2021|2020|
|||||||||E|
||Staff costs||||||338,528|293,702|
||Depreciation||||||213,038|212,861|
||General showground||overheads||||178,886|182,937|
||Association|overheads|||||96,042|70,254|
||Fundraising|and publicity|||||49,893|22,999|
||Interest payable||||||11,506|8,687|
||Governance||||||7,108|15,463|
||||||||895,001|806,903|
|7.|NET INCOME/(EXPENDITURE)||||||||
||This is stated after charging:||||||||
||||||||2021f|2020
E|
||Depreciation|oftangible fixed assets:|||||||
||-owned
by the charitable|||group|||213,038|212,861|
||Auditors'
remuneration||- audit ofAssociation||||5,750|5,100|
||Auditors'
remuneration||-audit of subsidiary||||3,975|3,365|
||Auditors'
remuneration||-other financial services||for the Association|||2,990|
##
##
||||Group|Group|Association|Association|
|---|---|---|---|---|---|---|
||||2021f|2020|2021|2020|
|Wages and|salaries||357,953|344,872|298,861|254,415|
|Social security costs|||38,665|38,860|31,304|30,392|
|Contribution|to defined contribution|pension|||||
|schemes|||9,831|11,042|8,363|8,895|
||||406,449|394,774|338,528|293,702|
|Group|Group|
|---|---|
|2021|2020|
|No.|No.|
|14|16|
##
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##
||Freehold|Plant and|Fixtures and||
|---|---|---|---|---|
||property
f|machinery|fittings|Total
E.|
|COST OR VALUATION|||||
|At 1 October 2020|7,377,?21|940,851|189,951|8,508,523|
|Additions|55,105||13,230|68,335|
|At 30September 2021|7,432,826|940,851|203,181|8,576,858|
|DEPRECIATION|||||
|At 1 October 2020|4,208,587|783,036|120,186|5,111,809|
|Charge for the year|126,157|75,172|11,709|213,038|
|At 30September 2021|4,334,744|858,208|131,895|5,324,847|
|NET BOOK VALUE|||||
|At 30September 2021|3,098,082|82,643|71,286|3,252,011|
|At 30September 2020|3,169,134|157,815|69,765|3,396,714|
##
##
##
|||||2021|2020|
|---|---|---|---|---|---|
|||||K||
|Turnover||||709,230|780,970|
|Cost ofsales||||(205,590)|(233,555)|
|Gross profit||||503,640|547,415|
|Administrative|expenses|||(75,386)|(98,556)|
|Other operating|income|||4,001|8,244|
|Net profit before recharges||from the Association||432,255|457,103|
|Rent, overheads
and other||costs recharged|by the Association|(278,985)|(266,397)|
|Profit for the financial year||||153,270|190,706|
|Balance Sheet|at 30September 2021|||||
|||||2021|2020|
|||||F|E|
|Assets||||360,999|428,680|
|Liabilities||||(201,631)|(231,876)|
|Net Assets||||159,368|196,804|
##
|||Group|Group|Association|Association|
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
||||E|E||
|DUE WITHIN|ONE YEAR|||||
|Trade debtors||114,708|162,557|6,945|8,523|
|Other debtors||28,076|21,139|51,353|18,975|
|Prepayments|and accrued income|61,321|55,814|43,414|55,238|
|||204,105|239,510|101,712|82,736|
##
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##
||||Group|Group|Association|Association|
|---|---|---|---|---|---|---|
||||2021|2020|2021|2020|
||||K|||E|
|Bank loans|||156,286|65,238|156,286|64,598|
|Trade creditors|||94,341|11,076|62,305|10,395|
|Amounts
owed|to group undertakings||||233,463|271,908|
|Other taxation|and social security||7,269|3,170|7,269|3,170|
|Other creditors|||16,252|42,831|16,252|42,831|
|Accruals and deferred||income|223,072|485,695|T8,622|255,140|
||||497,220|608,010|554,197|648,042|
##
##
|||Group|Group|Association|Association|
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
|||K|F|||
|Bank|loans|757,341|402,142|757,341|402,142|
|Included
within the above are amounts
falling|due as follows:||||
|---|---|---|---|---|
||Group|Group|Association|Association|
||2021|2020|2021|2020|
||E||E.|E|
|BETWEEN ONE AND TWO YEARS|||||
|Bank loans|164,619|64,598|164,619|64,598|
|BETWEEN TWO AND FIVE YEARS|||||
|Bank loans|4T3,066|183,428|473,066|183,428|
|OVER FIVEYEARS|||||
|Bank loans|119,656|154,116|119,656|154,116|
##
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##
|||||||Balance at|
|---|---|---|---|---|---|---|
||||Balance at 1|||30|
||||October|||September|
||||2020
f|Income
E|Expenditure
f.|2021|
|UNRESTRICTED FUNDS|||||||
|Unrestricted||funds|2,753,616|1,983,751|(1,693,035)|3,044,332|
|RESTRICTED FUNDS|||||||
|Farmwise|||6,113|||6,113|
|Farmwise|trailer||5,500|||5,500|
|Government||grants||63,290|(63,290)||
||||11,613|63,290|(63,290)|11,613|
|Total of|funds||2,765,229|2,047,041|(1,756,325)|3,055,945|
##
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##
||||||Balance at|
|---|---|---|---|---|---|
|||Balance at|||30|
|||1 October|||September|
|||2019|Income|Expenditure|2020|
|||E|||E|
|UNRESTRICTED FUNDS||||||
|Unrestricted|funds|2,928,268|979,477|(1,154,129)|2,753,616|
|RESTRICTED FUNDS||||||
|Farmwise||4,133|8,600|(6,620)|6,113|
|Farmwise
trailer||5,500|||5,500|
|Government|grants||66,586|(66,586)||
|||9,633|75,186|(73,206)|11,613|
|TOTAL OF|FUNDS|2,937,901|1,054,663|(1,227,335)|2,765,229|
##
|ANALYS|IS O|F NET ASSETS BETWEEN FUNDS|- CURRENT YEAR|||
|---|---|---|---|---|---|
||||Restricted|Unrestricted|Total|
||||funds|funds|funds|
||||2021
f:|2021|2021f|
|Tangible|fixed|assets||3,252,011|3,252,01't|
|Current|assets||11,613|1,046,882|1,058,495|
|Creditors|due|within one year||(497,220)|(497,220)|
|Creditors|due|in more than one year||(757,341)|(757,341)|
|TOTAL|||11,613|3,044,332|3,055,945|
##
##
##
##
||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2020|2020|2020|
|Tangible|fixed|assets||3,354,133|3,396,714|
|Current|assets||11,613|367,054|378,667|
|Creditors|due|within one year||(565,429)|(608,010)|
|Creditors|due|in more than one year||(402,142)|(402,142)|
|TOTAL|||11,613|2,753,616|2,765,229|
##
##
##
||||||||||||Group|Group|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||2021f|2020|
|Net
income/expenditure|||for|the|year|(as|per|Statement|of|Financial|||
|Activities)|||||||||||290,716|(172,672)|
|Adjustment|for:||||||||||||
|Depreciation|charges||||||||||213,038|212,861|
|Decrease
in|debtors||||||||||10,260|116,050|
|Increase/(decrease)||in|creditors||||||||(176,693)|49,141|
|Net cash provided||by|operating||activities||||||337,321|205,380|
##
||||Group|Group|
|---|---|---|---|---|
||||2021|2020|
|Cash|in|hand|854,390|139,157|
|Total|||854,390|139,157|
##
##
||||At 1||At 30|
|---|---|---|---|---|---|
||||October||September|
||||2020|Cash flows|2021|
|||||f.|F.|
|Cash|at bank and|in hand|139,157|715,233|854,390|
|Bank|loans due within
1 year||(65,238)|(91,048)|(156,286)|
|Bank|loans due over 1 year||(402,142)|(355,199)|(757,341)|
||||(328,223)|268,986|(59,237)|
##
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|||||Group|Group|Association|Association|
|---|---|---|---|---|---|---|---|
|||||2021|2020|2021|2020|
||||||E|F|E|
|Contracted|for but not provided||in these|||||
|financial statements||||||||
|Acquisition|oftangible|fixed assets||19,200|52,157|19,200|52,15?|
##
##
|payments|und|er non-cancellable
operating
lease|s as follows:||||
|---|---|---|---|---|---|---|
||||Group|Group|Association|Association|
||||2021
E|2020
f|2021
f|2020|
|Not later than||1 year|8,157|8,157|8,157|8,157|
|Later than|1 year and not later than 5years||15,768|28,074|15,?68|28,074|
||||23,925|36,231|23,925|36,231|
##
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|||||||Group|Group|Association|Association|
|---|---|---|---|---|---|---|---|---|---|
|||||||2021
f.|2020
f|2021
f.|2020
E|
|Financial|assets|measured|at|amortised|costs|854,390|139,157|854,390|139,157|