2022-09-30-accounts - Devon County Agricultural Association

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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					14
Consolidated	statement	ofcash flows			15
Notes to the	financial statements				16-30

President				T L Hammett
President	Elect			The Hon John Rous
Chairman	ofCouncil			Mrs M E Quicke	MBE DL FRAgS (resigned				11April 2022)
				A J Gray (appointed		11April 2022)
Vice Chairman			of	STR Stevens
Council
Honorary	Treasurer			Sir Henry Studholme			Bt DL FCA CTA
Honorary	Show		Director	STR Stevens
Chairman	of	Board of		J AT Lee OBE	DL FRAgS
Management
Association		Secretary		R L Maunder ARAgS			(resigned	31 January	2022)
				CJ Skelton (appointed			31 January 2022)
Board of	Management			JA T Lee OBE	DL FRAgS - Chairman
Elected Members				Mrs D Custance	Baker
				M H Retallick
				N Lindsay-Fynn	MA	Oxon
				A Gray (resigned	11	April 2022)
ExOfficio				Mrs M E Quicke	MBE		DL FRAgS (resigned		11April 2022)
				STR Stevens
				Sir Henry Studholme		Bt DL FCA		CTA
				A J Gray (appointed		11April 2022)
Company	registered
number				01927330
Charity registered
number				292897
Registered	office			Westpoint
				Clyst St Mary
				Exeter
				EX5 1DJ
Auditors				Bishop Fleming LLP
				Chartered Accountants
				Statutory Auditors
				2nd Floor Stratus	House
				Emperor Way
				Exeter Business	Park
				Exeter
				EX1 3QS
Bankers				NatWest Bank Pic
				59 High Street
				Exeter
				EX4 3DL

					Restricted	Unrestricted	Total	Total
					funds	funds	funds	funds
				Note	2022	2022 f.	2022f	2021 F
INCOME FROM:
Donations and grants					3,700		3,700	108,875
Charitable activities	including		County
Show						1,269,090	1,269,090	1,137,923
Other trading activities Westpoint income		including		10		886,431	886,431	709,230
Investments				3		116,008	116,008	91,013
TOTAL INCOME					3,700	2,271,529	2,275,229	2,047,041
EXPENDITURE ON:
Raising funds						316,624	316,624	280,976
Charitable activities	including		County
Show				6	3,133	1,694,166	1,697,299	1,475,349
TOTAL EXPENDITURE					3,133	2,010,790	2„013,923	1,756,325
NET MOVEMENT	IN FUNDS				567	260,739	261,306	290,716
RECONCILIATION	OF	FUNDS:
Total funds brought	forward				11,613	3,044,332	3,055,945	2,765,229
Net movement in funds					567	260,739	261,306	290,716
TOTAL FUNDS CARRIED FORWARD					12,180	3,305,071	3,317,251	3,055,945

				2022		2021
		Note		E		F
FIXEDASSETS
Tangible assets				3,144,921		3,252,011
				3,144,921		3,252,011
CURRENT ASSETS
Debtors			215,006		204,105
Cash at bank and	in hand		1,027,327		854,390
			1,242,333		1,058,495
Creditors: amounts	falling due within one
year		12	(460,977)		(497,220)
NET CURRENT ASSETS I (LIABILITES)				781,356		561,275
TOTAL ASSETS LESSCURRENT
LIABILITIES				3,926,277		3,813,286
Creditors: amounts	falling due after more
than one year		13		(609,026)		(757,341)
TOTAL NET ASSETS				3,317,251		3,055,945
CHARITY FUNDS
Restricted funds		14		12,180		11,613
Unrestricted funds		14		3,305,071		3,044,332
TOTAL FUNDS				3,317,251		3,055,945

				2022		2021
		Note
FIXEDASSETS
Tangible assets				3,144,921		3,252,011
Investments in subsidiary				2		2
				3,144,923		3,252,013
CURRENT ASSETS
Debtors			107,295		101,712
Cash at bank and	in hand		1,027,042		854,390
			1,134,337		956,102
Creditors: amounts	falling due within one
year		12	(591,136)		(554,197)
NET CURRENT ASSETS I (LIABILITES)				543,201		401,905
TOTAL ASSETS	LESS CURRENT
LIABILITIES				3,688,124		3,653,918
Creditors: amounts	falling due after more
than one year		13		(609,026)		(757,341)
NET ASSETS				3,079,098		2,896,577
CHARITY FUNDS
Restricted funds		14		12,180		11,613
Unrestricted funds		14		3,066,918		2,884,964
TOTAL FUNDS				3,079,098		2,896,577

					2022	2021
					E
Cash flows from operating		activities
Net cash generated by operating activities (see note 16)					404,905	337,321
Cash flows from investing		activities
Purchase oftangible fixed assets					(94,766)	(68,335)
Net cash used in investing		activities			(94,766)	(68,335)
Cash flows from financing		activities
Cash inflows from new borrowing						500,000
Repayments of borrowing					(137,202)	(53,753)
Net cash used in financing		activities			(137,202)	446,247
Change in cash and cash	equivalents		in the year		172,937	715,233
Cash and cash equivalents	brought forward				854,390	139,157
Cash and cash equivalents		carried forward			1,027,327	854,390
The notes on pages 16to 30		form part ofthese financial		statements

		2022	2021
		F	E
WESTPOINT TRADING	INCOME
Income		886,431	709,230
WESTPOINT TRADING	EXPENSES
Expenditure		654,374	559,961
Net income from trading	activities - Westpoint	232,057	149,269

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
		E	E	F
Rental	income	116,008	116,008	91,013
TOTAL	2021	91,013	91,013

INCOME TY	PE	BYCHARI	TABLE ACTIVITY
				2022	2021
				E
The Devon County Show
Entry fees				46,770	67,314
Show admission		and ticketing		505,171	538,044
Trade stands	and	tendered	contracts	444,477	364,161
Sponsorship	and	donations		108,336	91,915
Other show income				39,795	3,956
				1,144,549	1,065,390
Other income
Membership	income			48,716	41,911
Agrifest				29,210
Other income				46,615	30,625
				124,541	72,536

		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2022	2022	2022	2021
			E	E
Donations		3,700		3,700	2,370
Government	grants				106,505
TOTAL 2022		3,700		3,700	108,875
TOTAL 2021		65,552	43,323	108,875

						Activities
						undertaken	Support	Total	Total
						directly	costs	funds	funds
						2022	2022	2022	2021
									E
	The Devon	County Show				922,389	774,910	1,697,299	1,475,349
	Total 2021					686,187	789,162	1,475,349
	ANALYSIS	OF SUPPORT			COSTS
	The Devon	County Show
								Total	Total
								funds	funds
								2022	2021
									F
	Staff costs							220,372	267,783
	Depreciation							201,856	213,038
	General showground		overheads					193,318	173,409
	Association	overheads						131,948	116,318
	Interest payable							20,750	11,506
	Governance							6,666	7,108
								774,910	789,162
7.	NET INCOME/(EXPENDITURE)
	This is stated	after charging:
								2022	2021
									E
	Depreciation	oftangible		fixed assets:
	-owned by	the charitable			group			201,856	213,038
	Auditors' remuneration			- audit ofAssociation				6,325	5,750
	Auditors' remuneration			-audit of subsidiary				4,375	3,975
	Auditors' remuneration			-other financial services		for the Association		1,230

				Group	Group	Association	Association
				2022 F	2021	2022f	2021 E
Wages and	salaries			432,384	357,953	353,496	298,861
Social security costs				39,145	38,665	33,8'TS	31,304
Contribution	to defined	contribution	pension
schemes				10,686	9,831	9,501	8,363
				482,215	406,449	396,875	338,528

Group	Group
2022	2021
No.	No.
15	14

	Freehold	Plant and	Fixtures and
	property	machinery	fittings	Total
	E	E	F	E
COST OR VALUATION
At 1 October 2021	7,432,826	940,851	203,181	8,576,858
Additions	18,722	65,160	10,884	94,766
At 30 September 2022	7,451,548	1,006,011	214,065	8,671,624
DEPRECIATION
At 1 October 2021	4,334,744	858,208	131,895	5,324,847
Charge for the year	124,889	61,487	15,480	201,856
At 30 September 2022	4,459,633	919,695	147,375	5,526,703
NET BOOK VALUE
At 30September 2022	2,991,915	86,316	66,690	3,144,921
At 30September 2021	3,098,082	82,643	71,286	3,252,011

				2022	2021
				E	F
Turnover				886,431	709,230
Cost ofsales				(223,300)	(205,590)
Gross profit				663,131	503,640
Administrative	expenses			(93,324)	(75,386)
Other operating	income				4,001
Net profit before recharges		from the Association		569,807	432,255
Rent, overheads and other		costs recharged	by the Association	(337,750)	(278,985)
Profit for the financial year				232,057	153,270
Balance Sheet	at 30September 2022
				2022	2021
					F
Assets				409,448	360,999
Liabilities				(171,293)	(201,631)
Net Assets				238,155	159,368

		Group	Group	Association	Association
		2022	2021	2022	2021
			F
DUE WITHIN	ONE YEAR
Trade debtors		131,760	114,708	22,322	6,945
Other debtors			28,076	11,046	51,353
Prepayments	and accrued income	83,246	61,321	73,927	43,414
		215,006	204,105	107,295	101,712

			Group	Group	Association	Association
			2022	2021	2022	2021
			F	E	E	E
Bank loans			167,399	156,286	167,399	156,286
Trade creditors			78,108	94,341	67,119	62,305
Amounts owed	to group undertakings				290,406	233,463
VAT payable			27,501
Other taxation	and social security		10,633	7,269	9,590	7,269
Other creditors			5,374	16,252	5,374	16,252
Accruals and deferred		income	171,962	223,072	51,248	78,622
			460,977	497,220	591,136	554,197

		Group	Group	Association	Association
		2022f	2021	2022	2021
Bank	loans	609,026	757,341	609,026	757,341

	Group	Group	Association	Association
	2022f	2021 E	2022 f.	2021 E
BETWEEN ONE AND TWO YEARS
Bank loans	167,399	164,619	167,399	164,619
BETWEEN TWO AND FIVE YEARS
Bank loans	441,627	473,066	441,627	473,066
OVER FIVE YEARS
Bank loans		119,656		119,656

						Balance at
			Balance at 1			30
			October			September
			2021	Income f	Expenditure	2022f
UNRESTRICTED FUNDS
Unrestricted		funds	3,044,332	2,271,529	(2,010,790)	3,305,071
RESTRICTED FUNDS
Farmwise			6,113	3,700	(3,133)	6,680
Farmwise	trailer		5,500			5,500
			11,613	3,700	(3,133)	12,180
Total of	funds		3,055,945	2,275,229	(2,013,923)	3,317,251

					Balance at
		Balance at			30
		1 October			September
		2020	Income	Expenditure	2021
		E			F
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

ANALY	SIS O	F NET ASSETS BETWEEN FUNDS	-CURRENT YEAR
			Restricted	Unrestricted	Total
			funds	funds	funds
			2022	2022	2022
			E	F	E
Tangible	fixed	assets		3,144,921	3,144,921
Current	assets		12,180	1,230,153	1,242,333
Creditors	due	within one year		(460,977)	(460,977)
Creditors	due	in more than one year		(609,026)	(609,026)
TOTAL			12,180	3,305,071	3,317,251

			Restricted	Unrestricted	Total
			funds	funds	funds
			2021	2021	2021
			E	E	F
Tangible	fixed	assets		3,252,011	3,252,011
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)
			11,613	3,044,332	3,055,945

						Group	Group
						2022	2021
						E	E
Net income	for the	year (as per Statement		of Financial	Activities)	261,306	290,716
Adjustment	for:
Depreciation	charges					201,856	213,038
Decrease/(increase)		in debtors				(32,993)	35,405
Decrease in	creditors					(25,264)	(201,838)
Net cash provided		by operating	activities			404,905	337,321

			Group	Group
			2022	2021
			E
Cash	in	hand	1,027,327	854,390
Total			1,027,327	854,390

			At 1		At 30
			October		September
			2021	Cash flows	2022
			F		F
Cash	at bank and	in hand	854,390	172,937	1,027,327
Bank	loans due within 1 year		(156,286)	(11,113)	(167,399)
Bank	loans due over 1 year		(757,341)	148,315	(609,026)
			(59,237)	310,139	250,902

				Group	Group	Association	Association
				2022	2021	2022	2021
				F	F	F
Contracted	for but not provided		in these
financial statements
Acquisition	oftangible	fixed assets		4,197	19,200	4,197	19,200

payments	und	er non-cancellable operating lease	s as follows:
			Group	Group	Association	Association
			2022	2021	2022	2021
			F	F	E	F
Not later than		1 year	8,157	8,157	8,157	8,157
Later than	1 year and not later than 5 years		7,612	15,768	7,612	15,768
			15,769	23,925	15,769	23,925

						Group	Group	Association	Association
						2022	2021	2022	2021
						F	F		F
Financial	assets	measured	at	amortised	costs	1,027,327	854,390	1,027,042	854,390