REGISTERED COMPANY NUMBER: 01855780 (England and Wales) REGISTERED CHARITY NUMBER: 293515 

## Report of the Trustees and 

## Financial Statements 

for the Year Ended 30 September 

2021 for 

Surrey County Agricultural Society (The) 

AS TAXATION LTD 59 Lancaster Avenue 

Guildford Surrey GU1 3JR 



Surrey County Agricultural Society (The) 

Contents of the Financial  Statements for the Year Ended 30 September 2021 

|||Page|
|---|---|---|
|**Chairman's Report**|`1` - `2`||
|**Report of the Trustees**|3|-7|
|**Report of the Independent Auditors**|8|-`10`|
|**Statement of Financial Activities**||11|
|**Balance Sheet**||`12`|
|**Notes to the Financial Statements**|13|-`19`|





**Surrey County Agricultural Society (The)** 

## **Chairman's Report** 

## **for the Year Ended 30 September 2021** 

I do not think it possible to start any period of reflection, without first wishing you and your families well. When I took over the role of Chairman of the Society from Angus Stovold in February 2020, the word Covid-19 was only a line in the newspaper and a problem in the Far East. 

Few of us guessed at the enormity and effect that the viral pandemic would cause. The very mechanism of globalism (with its positive effect included on UK Agriculture & food and drink production) was the catalyst for the worldwide crisis. Perhaps we had earlier warning and a feeling of foreboding than some, as the first UK reported Covid-19 case was amongst us in Haslemere, south Surrey. 

The very nature of our Society and its principal focus (the Surrey Show) meant that within a month of taking over as Chairman, in early March 2020 I convened an emergency meeting of your Council. With guidance and input from our then CEO Tracey Longhurst, together with analysis of the likely effect and length of the lockdown, we took the decision to cancel the May 2020 Surrey Show. 

At this point I must refer to the hard work, commitment and support provided by Tracey Longhurst, Lucy Boulie and Andrea Hill in the Society office. They worked efficiently and quickly to deal with the show cancellation administration, including the ramifications of the Show's cancellation policy for traders and exhibitors. 

At this stage it became clear that the Society's finances would come under strain. A Finance Committee was created, steered by our Treasurer Paul lbbott. The Committee's aim was (and is) to consider as a team all financial aspects of the Society and advise Council on prudent actions. 

I want to recommend to you the work of Paul lbbott: he was worked through the year to take over the accounts first from Christopher Brockhurst, then take a more active role in the daily and monthly running of the Society's finances. 

As 2020 progressed, Council maintained contact with the Show office, soon reduced to skeleton staffing and statutory tasks only as the entire staff was placed on furlough under the Coronavirus Job Retention Scheme. 

Sadly, in November 2020 we lost Tracey to new opportunities (an exciting new business based around her farming business) and the Society decided not to recruit a new CEO, uncertain as to the needs of 2021. 

As flexible furlough was introduced in the early Autumn, Lucy and Andrea returned to the office for a few hours each week, performing the necessary weekly administration and liaison tasks. The loss of full time staff has meant that a number of tasks have been taken over by principally Paul lbbott and some other Council members. 

Council also took the decision in October 2020, to not hold a 2021 show. Without a vaccine in place and a second lockdown imminent, it would have been reckless of Council (as charity trustees) to commit our funds to a show that we were not sure could even be held in a then uncertain 2021. 

In December I formed a Strategy Committee. Whilst the last quarter of 2021 was a bleak time, it was clear that a new normal way of life could be contemplated (though soon bettered by the announcement of a vaccine). Council needed to consider what the future could hold for the Society and what the Society could hold for future life in Surrey. 

Whilst a lot of the Society's year has been negative and reactionary, we have been contemplating the effects of Brexit on 31 December 2020. The Agriculture Act 2020 and its linked Environment Bill (soon to be an Act of Parliament) showed a different future for UK Agriculture. The Society potentially has a role in amongst that change, from an educational perspective. 

The Strategy Committee met in late January and reviewed the aims and functions of the Society. In summary, a future Surrey County Agricultural Society may have the same charitable aims and objectives as ever in the past, present and future. However, how the Society delivers its activities and works with other organisations in Surrey would need to change. 

We have periodically given updates to members. Our September 2020 update asked for your opinions on the Society's future and the Show. We hope that you can deliver those opinions at the AGM. 

Page 1 



**Surrey County Agricultural Society (The)** 

## **Chairman's Report** 

## **for the Year Ended 30 September 2021** 

I wish to thank all my co-Trustees (on Council) for their time, commitment and support to the Society. These have been worrying times for us all, both for our and our families and friends' health, our businesses and organisations. To still show such dedication and help deliver direction for the Society shows the stalwart nature of the trustees. 

I must also thank our President Peter Gordon, who after an extended term is stepping down and is being replaced by Noel Grant, to whom we offer a warm welcome as President. 

Page 2 



**Surrey County Agricultural Society (The) (Registered number: 01855780)** 

**Report of the Trustees for the Year Ended 30 September 2021** 

The Council presents its report and financial statements for the year ended 30 September 2021. 

The Council members are directors of the Society for the purposes of the Companies Act 2006 and trustees of the Society for the purposes of the Charities Act 2011 and confirm that the financial statements comply with the current statutory requirements, the requirements of the governing documents of the Society and the provisions of the FRS 102 Charities Statement of Recommended Practice ("SORP") issued in 2015. 

The Advisory Board continue to augment the expertise of Council by bringing together individuals with specific areas of knowledge to offer guidance to Council on such matters relating to those areas of expertise. The Advisory Board meet on a quarterly basis and any output from those meetings is fed into Council through the Advisory Board Chairman in his ex officio capacity on Council. 

Advisory Board Members at the date of this report: 

P J F Stovold A M G More-Molyneux Campbell N Warren L Gates G Jackson C W J Stanton Medhurst R C Dent Gunner PA J Sir Graham Clarke R Wilkinson Bt AJ Hill Meldrum **H** Broom M Hobbs A E D Watts DL Poulsom P Knight A Simpson 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

The aims and charitable  objectives  of  the Society are the encouragement  of agriculture and agricultural employees in their various crafts, to promote good farming, the advancement of the breeding  and rearing of  livestock  and horses  and  to  maintain  the  public's  interest in  the Agricultural Industry generally within the County. This is put into practice by the organisation in the form of the Surrey County Show. 

The Council confirms that it has referred to the guidance contained in the Charity Commission's general  guidance on  public  benefit  when reviewing  the charity's  aims  and  objectives  and in planning future activities. 

Page 3 



**Surrey County Agricultural Society (The) (Registered number: 01855780)** 

**Report of the Trustees for the Year Ended 30 September 2021** 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Achievements and Performance** 

The County Show is ordinarily the main income producing event for the society. In March 2020 the Trustees  decided  to  cancel the  2020  Show,  due  to  the  anticipated  effects  of  the  COVID-19 pandemic. The 2021 County Show was subsequently also cancelled when the COVID-19 pandemic continued to affect the holding of public gatherings. 

During the pandemic the Trustees decided it was prudent to convert investments into cash, after the  New  Finance  Committee  assessed  the situation.  The  Society  no  longer  holds  outside investments. 

A further drawdown of funds from the reserve account was made from the investment portfolio to meet  the  Society's  obligations  in  the  outlay  of  planning  for  the  2020  Show  (before  it was cancelled).   Refunds continued to be made in 2021 for deposits and payments on account of the 2020 show that did not take place. 

The Society is very grateful for the help and  support in the past  of around 120 volunteers who usually assist annually in various capacities at events (such as judging, trophy management, office assistants, setting out and running the ploughing match) in addition to the many hours of support given by members of the Council at meetings throughout the year and at our events. This gives the Society the equivalent of circa 1500 hour of volunteer time and support annually. 

The Society has had no insurance claims this year. 

## **FINANCIAL REVIEW** 

## **Financial review** 

The net outflow of resources after the revaluation of investments amounted to £86,711 which compares with a net outflow of £86,711 in the previous year. This was caused by having no Show and income producing events. 

This year we have not had to call on the designated Showground Contingency Fund to cover any reinstatement costs at Stoke Park. 

During the year the Chairman proposed, and it was agreed, that a Finance Committee be created, in order to focus the commercial expertise of the Treasurer and three other Trustees onto financial and commercial matters. 

## **Donations** 

During the year, the Society made no charitable donations (2020:Nil). Our charitable donations are being kept under review but given the financial position of the Society at the current time, it was felt prudent not to make any charitable donations this year. 

## **Pay policy for senior staff** 

The board of directors and the Charity's trustees, consider that they and the senior management team represent the key management personnel of the charity in charge, directing and controlling, running, and operating the Charity on a day-to-day basis. All members of Council give up their time freely no Council member received remuneration in the year. Details of Council members' expenses  and related  party transactions  are  disclosed  in  Notes  6 and 16 to  the  Financial Statements. 

Page 4 



**Surrey County Agricultural Society (The) (Registered number: 01855780)** 

**Report of the Trustees for the Year Ended 30 September 2021** 

The pay of senior staff is reviewed annually and may be increased in 

accordance with average earnings. All staff were placed on the Coronavirus 

Job Retention Scheme and furloughed. 

Page 5 



**Surrey County Agricultural Society (The) (Registered number: 01855780)** 

## **Report of the Trustees for the Year Ended 30 September 2021** 

## **FUTURE PLANS** 

The plans for the Society are being continually reviewed by the Trustees, both in terms of future Surrey County Council Shows and 

other future activities. 

The structure of agriculture in the United Kingdom is changing, with the Agriculture Act 2020 and the impending Environment Bill. 

It is anticipated that there be a role for the Society, in relation to educating members of the public about agriculture and engaging with the farming community. However, 2021 was about stablisation, not long-term planning. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as 

defined by the Companies Act 2006. 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Registered Company number** 

01855780 (England and Wales) 

## **Registered Charity number** 

293515 

## **Registered** 

**office** 8 Birtley Courtyard Birtley Road Bramley Surrey GUS OLA 

## **Trustees** 

RAJ Stovold J H Dobson J M R Barton CJ Brockhurst (resigned 28.1.20) PA lbbott I C 5 Lynch (resigned 28.1.20) LE Matthews J Q W Thurnpsun D Whittington P NL Gordon G W Rees RC Patch (appointed 28.1.20) L N Grant (appointed 28.1.20) W Peters (appointed 28.1.20) 

## **Company Secretary** 

## **Accountant** 

Page 6 



**Surrey County Agricultural Society (The) (Registered number: 01855780)** 

**Report of the Trustees for the Year Ended 30 September 2021** 

A S Taxation Ltd 

Page 7 



**Surrey County Agricultural Society (The) (Registered number: 01855780)** 

## **Report of the Trustees for the Year Ended 30 September 2021** 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Accountant** 

AS Taxation Ltd 59 Lancaster Avenue Guildford Surrey GU13JR 

## **Solicitors** 

Barlow Robins LLP The Oriel Sydenham Road Guildford Surrey GUl 3SR 

## **Bankers** 

NatWest Pie Petersfield Agricultural Unit 4 High Street Petersfield Hanis GU32 3JF 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

The Society (registered company number 01855780) is registered as a charity [registered charity number 293515) in England and Wales. The Society is a company incorporated in the United Kingdom and is limited by guarantee and therefore does not have share capital. It is governed by its Memorandum and Articles of Association dated 1984. 

Details of the principal business and registered address along with those individuals that have served as Council members can be found in the pages of this report. 

## **TRUSTEES' RESPONSIBILITY STATEMENT** 

The Council members (who are also directors of The Surrey County Agricultural Society for the purposes of company law) are responsible for preparing the Council report and the financial statements in accordance with applicable law and United Kingdom Accounting Generally Accepted Accounting Practice). 

Company law requires the Council to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Society and of the incoming resources and application of resources, including the income and expenditure, of the Society for that period. In preparing these financial statements, the Council are required to: 

- Select suitable accounting policies and then apply them consistently. 

- Observe the methods and principles in the Charity SORP; 

- Make judgements and accounting estimates that are reasonable and prudent. 

- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 

- Society will continue in business 

The Council are responsible for keeping proper accounting records that are sufficient to show and explain the Society's transactions and disclose with reasonable accuracy at any time the financial position of the Society and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding  the  assets of  the Society and hence for  taking  reasonable  steps  for the prevention and detection of fraud and other irregularities. 

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. 

Page 8 



**Surrey County Agricultural Society (The) (Registered number: 01855780)** 

## **Report of the Trustees for the Year Ended 30 September 2021** 

## **ACCOUNTANT** 

A resolution to reappoint AS Taxation Ltd Accountants will be put to the members at the **Annual General Meeting.** 

In preparing this report, the Council have taken advantage of the small companies' exemptions provided by section 415A of the Companies Act 2006. 

Approved by order of the board of trustees on 28 September 2021 and signed on its behalf by: 

J Q W Thompson - Trustee 

Page 9 



**Report of the Independent Accountants to the Members of Surrey County Agricultural Society (The)** 

## **Opinion** 

We  have  prepared  the  financial  statements  of  Surrey  County  Agricultural  Society  (The) (the 'charitable company') for the year ended 30 September 2021 which comprise the Statement of Financial Activities, the Balance Sheet, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation  is applicable  law and United Kingdom  Accounting Standards  (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the accompanying financial statements fairly, in all material respects - give a true and fair view of the financial position of the charity as at 30 September 2021 

- have been prepared in accordance with United Kingdom Generally Accepted Accounting Practice, and 

- in accordance with the requirements of the Companies Act 2006 

## **Basis for qualified opinion** 

We were unable to obtain sufficient appropriate information we did not have sight of the back up documentation relating to the accounts but did have sight of all the bank statements. 

## **Conclusions relating to going concern** 

- We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. 

## **Key matters** 

No Audit was conducted on these accounts. 

During the 2021 financial year, the bookkeeper and other staff had their hours reduced. In addition to that, the charity took advantage of the Furlough grants available. 

Because key financial staff members were not working their regular hours and on the resignation of the regular bookkeeper there is an increased risk of material misstatement due to the potential impact of this on the functioning of the controls and record keeping of the company. 

During the current financial year, the charity did not have a  full-time  appointed executive director. The charity however, engaged the services of part time staff with a knowledge of the charity's operations. A Trustee took on the payroll process. 

Page 10 



**Report of the Independent Accountants to the Members of Surrey County Agricultural Society (The)** 

## **Other information** 

The other information comprises the information included in the annual report, other than the financial statements and our accountants report thereon. The directors are responsible for the other information contained within the annual report. 

Our opinion on the financial statement does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of conclusion thereon. 

Our  responsibility  is  to  read  the  other  information  and,  in  doing  so,  consider  whether  the  other information  is  materially  inconsistent with the financial statements, or our knowledge obtained or otherwise appears to be materially misstated.  If we identify  such material consistencies or  apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning the  reconciliation of the bank at 30 September 2021. We have concluded that where the other information refers to the  bank  or related balances such as income  and expenses,  it may  be materially misstated for the same reason. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

Except for the possible effects of the matter described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken: 

- the information given in the strategic report and the Trustees report for the financial year for which the financial 

- the strategic report and the trustees report have been prepared in accordance with applicable legal requirements 

## **Matters on which we are required to report by exception** 

Except for the matter described in the basis for qualified opinion section of our report, we have not identified material misstatements in the strategic report or the trustees report. 

Arising solely from the limitation on the scope of our accounting work relating to inventory, referred to above: 

- we have not obtained all the information and explanations that we considered necessary for the purpose of preparing the accounts 

- we were unable to determine whether adequate accounting records have been kept 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you. 

## **Responsibilities of trustees** 

As explained more fully in the Trustees' Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine  is  necessary to enable  the preparation of  financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

Page 11 



**Report of the Independent Accountants to the Members of Surrey County Agricultural Society (The)** 

## **Use of our report** 

This report is made solely to the charitable company's members, as a body. We do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for this report, or for the opinions we have formed. 

AS Taxation Ltd 59 Lancaster Avenue Guildford Surrey GU13JR 

29 September 2021 

Page 12 



**Surrey County Agricultural Society (The)** 

## **Statement of Financial Activities for the Year Ended 30 September 2021** 

|30.9.21<br>**Unrestricted**<br>funds<br>**Notes**<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>**Donations and legacies**<br>205<br>**Charitable activities**<br>County Show<br>0<br>**Farming Competitions**<br>**Investment income**<br>3<br>6<br>**Other income 2021 - HMRC JRS GRANT**<br>**and rate rebates**<br>40,485<br>**Total**<br>40,696<br>**EXPENDITURE ON**<br>**Raising funds**<br>4<br>3,284<br>**Charitable activities**<br>County Show<br>0<br>**Farming Competitions**<br>0<br>**Office and administrative expenses**<br>48,404<br>Other<br> 1,237<br>**Total**<br>52,925<br>**Net gains/(losses) on investments**<br>**NETINCOME/(EXPENDITURE)**<br>(12,229)<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>143,944<br>**TOTAL FUNDS CARRIED FORWARD**<br>131,715|30.9.20<br>Total<br>funds<br>£<br>12,102<br>2,270<br>3,499<br>21,724<br>39,595<br>16,932<br>15,706<br>455<br>91,969<br>1,244<br>126,306<br>(86,711)<br>230,655<br>143,944|
|---|---|



**The notes form part of these financial statements** 

Page 13 



## **Surrey County Agricultural Society(The) (Registered number: 01855780)** 

## **Balance Sheet 30 September 2021** 

|Notes<br>**FIXED ASSETS**<br>Tangible assets<br>10<br>Investments<br>11<br>**CURRENT ASSETS**<br>Stocks<br>12<br>Debtors<br>13<br>Prepayments and accrued income<br>Cash at bank and in hand<br>**CREDITORS**<br>Amounts falling due within one year<br>14<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT LIABILITIES**<br>**NETASSETS**<br>**FUNDS**<br>15<br>Unrestrictedfunds<br>**TOTAL FUNDS**|30.9.21<br>30.9.20<br>Unrestricted<br>funds<br>Total<br>funds<br>£<br>£<br>90,688<br>91,925<br>_______<br>90,688<br>91,925<br>884<br>1,299<br>6,053<br>49,967<br>87,201<br>51,266<br>94,138<br>(10,239)<br>(42,119)|30.9.21<br>30.9.20<br>Unrestricted<br>funds<br>Total<br>funds<br>£<br>£<br>90,688<br>91,925<br>_______<br>90,688<br>91,925<br>884<br>1,299<br>6,053<br>49,967<br>87,201<br>51,266<br>94,138<br>(10,239)<br>(42,119)|30.9.21<br>30.9.20<br>Unrestricted<br>funds<br>Total<br>funds<br>£<br>£<br>90,688<br>91,925<br>_______<br>90,688<br>91,925<br>884<br>1,299<br>6,053<br>49,967<br>87,201<br>51,266<br>94,138<br>(10,239)<br>(42,119)|30.9.21<br>30.9.20<br>Unrestricted<br>funds<br>Total<br>funds<br>£<br>£<br>90,688<br>91,925<br>_______<br>90,688<br>91,925<br>884<br>1,299<br>6,053<br>49,967<br>87,201<br>51,266<br>94,138<br>(10,239)<br>(42,119)|
|---|---|---|---|---|
||41,027<br>52,019<br>131,715<br>143,944|||52,019|
||131,715<br>143,944||||
|||131,715<br>143,944<br>131,715<br>143,944|143,944||



These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies’ regime. 

The financial statements were approved by the Board of Trustees and authorised for issue on 28 September 2021 and were signed on its behalf by: 

J Q W Thompson - Trustee 

The notes form part of these financial statements 

Page 14 



**Surrey County Agricultural Society(The)** 

Notes to the Financial Statements **for the Year Ended 30 September 2021** 

## **1. BASIC FINANCIAL INSTRUMENTS** 

Financial instruments (i.e. financial assets and liabilities) are classified as basic or non-basic in accordance with the requirements of FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest rate method. The company does not have any non-basic financial instruments. 

## **2. ACCOUNTING POLICIES** 

Basis of preparing the financial statements 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, except for investments which are included at market value. 

The Surrey County Agricultural Society meets the definition of a public benefit entity under FRS 102. The financial statements are therefore prepared in accordance with the additional requirements of such entities. 

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). 

The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern on the basis that the charity has sufficient financial resources which will allow the charity to manage its risks in the foreseeable future. 

## Income 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. 

## Expenditure 

Liabilities  are  recognised  as  expenditure  as  soon  as there  is a  legal  or  constructive  obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related  to the category. Where costs cannot be directly attributed  to headings, they have been allocated to activities on a basis consistent with the use of resources. 

## Tangible fixed assets 

Depreciation is provided at the following annual rates to write off each asset over its estimated useful life. 

Freehold -2 % on cost property -15% on reducing balance Fixtures and fittings 

## **Stocks** 

Stocks are valued at the lower of cost or estimated net realisable value. 

Taxation 

Page 15 

continued... 



## **Surrey County Agricultural Society(The)** 

The charitable company is exempt from corporation tax on its charitable activities. 

Fund accounting 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Page 16 

continued... 



**Surrey County Agricultural Society(The)** 

**Notes to the Financial Statements - continued for the Year Ended 30 September 2021** 

## **2. ACCOUNTING POLICIES** - **continued** 

## **Fund accounting** 

Unrestricted designated funds can only be used in accordance with the charitable objectives and have been specifically 

designated for a particular purpose. 

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

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Pension costs and other post-retirement benefits** 

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

## **Cups and trophies** 

No value has been included in the financial statements for cups and trophies held by the Society. 

## **3.** 

## **4.** 

## **5.** 

## **INVESTMENT INCOME** 

||||30.9.21|30.9.20|
|---|---|---|---|---|
||||£|£|
|Deposit account<br>interest Dividends|||6<br>0|16<br>3,483|
||||6|3,499|
|**RAISING FUNDS**|||||
|**Investment management**|||||
|**costs**|||||
||||30.9.21|30.9.20|
||||£|£|
|Portfolio management|||||
|**NET INCOME/(EXPENDITURE)**|||||
||||30.9.21|30.9.20|
|£|£||||
|Accountants 2021 remuneration for 2021 ( Audit 2020)|||2,700|6,500|
|Auditor's remuneration for|non-audit work||0|2,800|
|Less: auditor's donation||||(1,500)|
|||0|||
|Depreciation - owned assets|||1,237|1,<br>244|



Page 17 

continued... 



**Surrey County Agricultural Society(The)** 

**Notes to the Financial Statements - continued** 

**for the Year Ended 30 September 2021** 

## **6. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 30 September 2021 nor for the year ended 30 September 2020. 

## **Trustees ‘expenses** 

There were no trustees' expenses paid for the year ended 30 September 2021 (2020: £Nil). 

## **7. STAFF COSTS** 

|Wages and salaries<br>Social security costs<br>Other pension costs<br>The average monthly number of employees during the year was as follows:<br> <br>Management|30.9.21<br>£<br>32,464<br>0<br>383<br>32,847<br>2<br>30.9.2<br>0||30.9.20<br>£<br>57,761<br>350<br>320<br>58,431|
|---|---|---|---|
|||||
||||2<br>30.9.19<br>3|



No employees received emoluments more than £60,000. 

## **Key management personnel** 

The total amount of employee benefits (including employer pension employ national contributions and er insurance contributions) received by key management personnel for their services to the charity was £31,228 (2020: £58,431). 

## **8.** 

## **COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

||Unrestrict|
|---|---|
||ed|
||Funds|
||2020|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Donations and legacies|12,102|
|**Charitable activities**||
|County Show|2,270|
|Other income|21,724|
|Investment income|3,499|
|**Total**|39,595|
|**EXPENDITURE ON**||
|Raisingfunds|16,932|
|**Charitable activities**||
|County Show|15,706|
|FarmingCompetitions|455|



Page 18 

continued... 



**Surrey County Agricultural Society(The)** 

## **Notes to the Financial Statements - continued for the Year Ended 30 September 2021** 

## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** - **continued** 

|**continued**||
|---|---|
||Unrestricte|
||d|
||funds|
||£|
|Ofce and administrative|91,969|
|expenses||
||1,244|
|Other|126,306|
|**Total**||
||0|
|Net gains/(losses) on|(86,711)|
|investments||
|**NET INCOME**||
|**RECONCILIATION OF FUNDS**||
|**Total funds brought forward**|230,655|
|**TOTAL FUNDS CARRIED**|143,944|
|**FORWARD**||



## **9. OTHER INCOME** 

Other income is Grant income received in respect of salaries as part of the Furlough grant funding provided by the Government. 

## **10.** 

## **TANGIBLE FIXED ASSETS** 

|**TANGIBLE FIXED**<br>**ASSETS**|||
|---|---|---|
|**COST**<br>At 1 October 2020<br>Additions<br>Disposals<br>At 30 September 2021<br>**DEPRECIATION**<br>At 1 October 2020<br>Charge for year<br>Eliminated on disposal<br>At 30 September 2021<br>**NET BOOK VALUE**<br>At 30 September 2021<br>At 30 September 2020||Fixture<br>s<br>Freehold<br>Plant and<br>and<br>Computer<br>property<br>machinery<br>fttings<br>equipment<br>Totals<br>£<br>£<br>£<br>£<br>£<br>111,434<br>10,052<br>2001<br>3,868<br>127,355<br>111,434<br>10,052<br>2,001<br>3,868<br>127,355|
||||
|||20,229<br>10,052<br>1,755<br> 3,394<br>35,430<br>963<br>37                           237<br>1,237|
|||21,192<br>10,052<br>1,792                     3,631<br>36,667|
|||90,242<br>209                         237<br>90,688<br>91,205<br>246                         474<br>91,925|
||||



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**Surrey County Agricultural Society(The)** 

**for the Year Ended 30 September 2021** 

## **Notes to the Financial Statements - continued** 

## **11. FIXED ASSET INVESTMENTS** 

There were no investment assets outside the UK. 

|**12.**<br>**13.**<br>**14.**<br>**15.**|**STOCK**<br>**S**<br>Rosettes and prize cards<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Otherdebtors<br>**CREDITORS: AMOUNTS FALLING**DUE**WITHIN ONE YEAR**<br>Trade creditors<br>Social security and other taxes<br>VAT<br>Othercreditors<br>Accruals and deferred income<br>**MOVEMENT IN FUNDS**<br>**Unrestricted funds**<br>General fund<br>Showground contingency fund<br>19,728<br>**TOTAL FUNDS**<br>Net movement in funds, included in the above are as<br>follows:<br>**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|At<br>1.10.2<br>1<br>£<br>124,216<br>19,728<br> <br>143,944<br>143,944<br>Incoming<br>resources<br>£<br>40,696<br>40,696|30.9.21<br>£<br>30.9.20<br>£<br>30.9.21<br>30.9.20<br>£<br>£<br> 2,1<br>83<br>884<br> 2,1<br>83<br>884<br>30.9.21<br>30.9.20<br>£<br>£<br>0<br>9,769<br>245<br>(700)<br>0<br>1,675<br>7,711<br>27,110<br>2,087<br>4,265<br>10,043<br>42,119<br>Net<br>movemen<br>t in<br>funds<br>At<br>30.9.21<br>£<br>£<br>111,987<br>124,216<br> 19,728 <br> 131,715<br>143,944<br>131,715<br>143,944<br>Resources<br>expended<br>Movemen<br>t<br>in funds<br>£<br>£<br>(52,925)<br>(12,229)|
|---|---|---|---|
||||(52,925)<br>(12,229)|



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continued... 



**Surrey County Agricultural Society(The)** 

**Notes to the Financial Statements - continued for the Year Ended 30 September 2021** 

## **15. MOVEMENT IN FUNDS** - **continued** 

## **Comparatives for movement in funds** 

|**Unrestricted funds**<br>Generalfund<br>Showground contingency fund<br>**TOTAL FUNDS**<br>Comparative net movement in funds, included in the above are<br>as follows:<br>Incoming<br>resources<br>£<br>**Unrestricted funds**<br>General fund<br>39,595<br>**TOTAL FUNDS**<br>39,595|||At<br>1.10.19<br>£<br>210,927<br>19,728<br>-|Net<br>moveme<br>nt<br>At<br>in funds<br>30.9.20<br>£<br>£<br>(86,711)<br>124,216<br>19,728|
|---|---|---|---|---|
||||230,655|(86,711)<br>143,944|
|||230,6<br>55<br>Resources<br>expende<br>d<br>£<br>(126,306<br>)||(86,711)<br>143,944<br>Gains and<br>Movement<br>losses<br>in funds<br>£<br>£<br>(86,711)|
|||(126,306)|||
||( 86,711<br>)||||



A current year 12 months and prior year 12 months combined position is as follows: 

|**Unrestricted funds**<br>General fund<br>Showground contingency fund<br>**TOTAL FUNDS**|At<br>1.10.19<br>£<br>210,927<br>19,728<br>230,655<br>230,655|Net<br>moveme<br>nt<br>At<br>in funds<br>£<br>30.9.21<br>£<br>(98,940)<br>111,987<br>19,728|Net<br>moveme<br>nt<br>At<br>in funds<br>£<br>30.9.21<br>£<br>(98,940)<br>111,987<br>19,728|
|---|---|---|---|
|||(98,940)<br>(98,940)|131,715|
||||131,715|



continued ... 

Page 21 



**Surrey County Agricultural Society(The)** 

## **Notes to the Financial Statements - continued for the Year Ended 30 September 2021** 

## **15. MOVEMENT IN FUNDS** - **continued** 

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

|Incoming<br>resources<br>£<br>**Unrestricted funds**<br>Generalfund<br>80,291<br>**TOTAL FUNDS**<br>80,291|Resources<br>expended<br>£<br>Gains and<br>losses<br>£<br>Movemen<br>t in<br>funds<br>£<br>(179,23<br>1)<br>(233)<br>(99,173)|Resources<br>expended<br>£<br>Gains and<br>losses<br>£<br>Movemen<br>t in<br>funds<br>£<br>(179,23<br>1)<br>(233)<br>(99,173)|Resources<br>expended<br>£<br>Gains and<br>losses<br>£<br>Movemen<br>t in<br>funds<br>£<br>(179,23<br>1)<br>(233)<br>(99,173)|Resources<br>expended<br>£<br>Gains and<br>losses<br>£<br>Movemen<br>t in<br>funds<br>£<br>(179,23<br>1)<br>(233)<br>(99,173)|
|---|---|---|---|---|
|||(179,23<br>1)|(233)|(99,173)|
||||||



## **16. RELATED PARTY DISCLOSURES** 

A member of the Advisory Board is a director in a company that provides services to the Surrey County Agricultural Society. Countryside Contracts Ltd was paid nothing in 2021 (£0 in 2020). 

## **17. CONSTITUTION AND CONTROL** 

The Surrey Country Agricultural Society is a company limited by guarantee, having no share capital, No. 01855780 and is a registered charity, No. 293515. 

|Number of members<br>Maximum liability of each member<br>Throughout the year the company was under the control of<br>the Council.|2020<br>200<br>£2|2019<br>200|
|---|---|---|
|||£2|



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