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2023-03-31-accounts

Charity registration number: 298415

The Poultry Club

Annual Report and Financial Statements for the Year Ended 31 March 2023

The Poultry Club

Contents

Reference and Administrative Details 1
Statement of Trustees' Responsibilities 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 16

The Poultry Club

Reference and Administrative Details

Chairman Mr Lee Grant Trustees Mr Alexander James Young Mr Paul Kerfoot Mr Andrew Vincent Marment Mr Thomas William Oldcorn Mr Lee Grant Mr Jonathan Michael Grubb Mr David Pannell Mr Daniel Nixon Mr Tom Davis Mrs Dawn Constance Newman Mr Colin Booth Dr Karen Griffiths Mrs Claire Flower Secretary Mrs Kate Dickinson Mrs Joanne Hall Charity Registration Number 298415 Principal Office Sedbury Home Farm Gilling West Richmond North Yorkshire DL10 5LF Accountant TyneRede Accountancy Ltd Lloyds Bank House Bellingham Hexham Northumberland NE48 2AZ Bankers National Westminster Bank PLC Boston Branch 10 Market Place Lincolnshire PE21 6EJ

Page 1

The Poultry Club

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees 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 incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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.

Approved by the trustees of the charity on 29 August 2023 and signed on its behalf by:

Lee Grant Chairman

Page 2

The Poultry Club

Independent Examiner's Report to the trustees of The Poultry Club

I report to the trustees on my examination of the accounts of The Poultry Club for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity trustees of The Poultry Club you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the The Poultry Club's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of The Poultry Club as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Christopher Gillie FCCA TyneRede Accountancy Limited

Lloyds Bank House Bellingham Hexham Northumberland NE48 2AZ

29 August 2023

Page 3

The Poultry Club

Statement of Financial Activities for the Year Ended 31 March 2023

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investment income
5
Total Income
Expenditure on:
Raising funds
Charitable activities
Gain/(loss) on programme related investments
Total Expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
£
3,635
20,724
8,905
3,036
36,300
(4,329)
(46,424)
(4,602)
(55,355)
(19,055)
278,338
259,283		 Total
2023
£
3,635
20,724
8,905
3,036
36,300
(4,329)
(46,424)
(4,602)
(55,355)
(19,055)
278,338
259,283		 Total
2022
£
4,180
32,539
19,994
2,149
58,862
(7,537)
(48,345)
3,839
(52,043)
6,819
271,519
278,338

The movement in funds before and after gains and losses on programme related investments are disclosed below:

• Fund movement before gain/(loss) on programme related investments (£14,451) (2022 - £2,980).

• Fund movement after gain/(loss) on programme related investments (£19,053) (2022 - £6,819).

Loss on investments differs to the revaluation amount included in note 12 of the accounts due to realised gains on the maturity of two investec plans during the year.

All of the charity's activities derive from continuing operations during the above two periods.

The funds breakdown for 2023 and 2022 are shown in note 18.

The notes on pages 6 to 16 form an integral part of these financial statements. Page 4

The Poultry Club

(Registration number: 298415) Balance Sheet as at 31 March 2023

Note
Fixed assets
Tangible assets
11
Investments
12
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
15
Creditors: Amounts falling due within one year
16
Net current assets
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted
18
Total funds
19		 2023
£
24,028
78,452
102,480
13,656
8,950
155,291
177,897
(21,096)
156,801
259,281
259,283
259,283		 2022
£
27,347
138,275
165,622
14,241
64,989
61,159
140,389
(27,673)
112,716
278,338
278,338
278,338

The financial statement on pages 4 to 14 were approved by the tustees, and authorised for issue 29 August 2023 and signed on their behalf by:

Lee Grant Chairman

The notes on pages 6 to 16 form an integral part of these financial statements. Page 5

The Poultry Club

Notes to the Financial Statements for the Year Ended 31 March 2023

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

The Poultry Club meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. All figures are quoted in sterling and there are no overseas currency conversions.

Exemption from preparing a cash flow statement

The charity adopts Bulletin 1 (February 2016) and have therefore not included a cash flow statement in these financial statements.

Going concern

The 2021 and 2022 National Show was cancelled due to Avian Influenza restrictions however a replacement Egg Show took place in 2022, the 2020 National Show was also cancelled due to Covid-19. The 2019 Show resulted in a very small surplus. Not having this surplus will have a negligible effect. It is recognised that without a December Show membership could fall as many members pay membership with their show entry. Given the strength of the balance sheet and availability and liquidity, the trustees believe that while uncertainty exists, this does not pose a material uncertainty that would cast doubt on the charity's ability to continue as a going concern. The trustees therefore consider it appropriate for the accounts to be prepared on a going concern basis.

Reserves

Sufficient reserves exist to ensure that any liability that may occur in the following 12 months may be met. At 31st March 2023 the trustees consider that £70,000 is sufficient.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Page 6

The Poultry Club

Notes to the Financial Statements for the Year Ended 31 March 2023

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to any given category. Costs not yet invoiced, but where goods or services have been provided, are included where the amount owed can be estimated reliably. Where timing of costs are uncertain, amounts are classified as a provision.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Taxation

The Poultry Club of Great Britain is a charity within the meaning of Paragraph 1 Schedule 6 Finance Act 2010. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992,to the extent that such income or gains are applied exclusively for charitable purposes. No tax charge arose in the period.

Tangible fixed assets

Individual fixed assets costing £100.00 or more are initially recorded at cost.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Website 20% straight line basis
Office equipment 25% straight line basis
Equipment 25% reducing balance

Impairment of fixed assets

Trophies are held at fair value where this can be reliably measured and assets are impaired for any reduction in value.

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Page 7

The Poultry Club

Notes to the Financial Statements for the Year Ended 31 March 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the surplus or deficit on a straight-line basis over the period of the lease.

Stock

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

Trade debtors

Debtors are amounts due from customers and members for merchandise sold, services provided and subscriptions occuring in the ordinary course of the charity's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of the charity from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Page 8

The Poultry Club

Notes to the Financial Statements for the Year Ended 31 March 2023

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2 Income from donations and legacies

Donations and legacies;
Donations from individuals
Gift aid reclaimed		 Unrestricted
funds
General
£
3,635
-
3,635		 Total
2023
£
3,635
-
3,635		 Total
2022
£
2,680
1,500
4,180

3 Income from charitable activities

Unrestricted

Subscriptions
National Show/Egg Show income		 General
£
19,164
1,560
20,724		 Total
2023
£
19,164
1,560
20,724		 Total
2022
£
31,568
971
32,539

Page 9

The Poultry Club

Notes to the Financial Statements for the Year Ended 31 March 2023

4 Income from other trading activities

Unrestricted

Trading income;
Judging tests
Ringing scheme
Sales of merchandise
Sale of British Poultry Standards
Royalties
Advertising and sponsorship income
5
Investment income
Income from dividends;
Dividends receivable
Interest receivable and similar income;
Interest receivable on bank deposits		 General
£
-
6,126
205
-
74
2,500
8,905
Unrestricted
General
£
1,747
1,289
3,036		 Total
2023
£
-
6,126
205
-
74
2,500
8,905
Total
2023
£
1,747
1,289
3,036		 Total
2022
£
263
11,228
720
277
106
7,400
19,994
Total
2022
£
1,746
403
2,149

Page 10

The Poultry Club

Notes to the Financial Statements for the Year Ended 31 March 2023

6 Expenditure on raising funds

a) Costs of trading activities

Unrestricted

Unrestricted
Opening stock
Ringing scheme
Merchandise (incl standards book)
Closing stock
Marketing and publicity		 General
£
7,670
4,023
279
(7,871)
228
4,329		 Total
2023
£
7,670
4,023
279
(7,871)
228
4,329		 Total
2022
£
6,840
6,475
1,400
(7,670)
492
7,537

7 Expenditure on charitable activities

Unrestricted

Staff costs
Trustees expenses
Secretary's expenses
Insurance
Rosettes, awards and prize cards
Junior promotional packs
European entente and memberships
Postage expenses
Telephone and fax
Computer and website costs
Printing and stationery
Room hire and meeting costs
National Show/Egg Show expenditure
Sundry expenses
Advertising and promotional expenses
Accountancy fees
Legal and professional fees
Investment fees
Bad debts written off
Bank charges
Depreciation (incl website)		 General
£
15,008
3,443
1,070
2,035
459
33
117
4,061
434
335
4,737
2,289
2,280
542
1,091
2,052
-
304
1,540
1,277
3,317		 Total
2023
£
15,008
3,443
1,070
2,035
459
33
117
4,061
434
335
4,737
2,289
2,280
542
1,091
2,052
-
304
1,540
1,277
3,317		 Total
2022
£
18,837
2,363
768
2,197
(864)
2
132
4,668
634
352
3,872
873
3,515
206
590
2,237
2,370
1,401
(1,007)
1,817
3,382

Page 11

The Poultry Club

Notes to the Financial Statements for the Year Ended 31 March 2023

Unrestricted
General
£
46,424		 Total
2023
£
46,424		 Total
2022
£
48,345

8 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

Expenses totalling £3,443 were paid to the trustees this year.

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any other benefits from the charity during the year. However P Wilson received royalties from the publishers of Standards Books.

9 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries		 2023
£
15,008		 2022
£
18,837

No employee received emoluments of more than £60,000 during the year

10 Taxation

The charity is a registered charity and is therefore exempt from taxation.

Page 12

The Poultry Club

Notes to the Financial Statements for the Year Ended 31 March 2023

11 Tangible fixed assets

Cost
At 1 April 2022
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Equipment
£
6,288
6,288
5,513
195
5,708
580
775		 Office
equipment
£
3,627
3,627
1,747
726
2,473
1,154
1,880		 Trophies
£
162,702
162,702
140,408
-
140,408
22,294
22,294		 Website
£
11,982
11,982
9,586
2,396
11,982
-
2,396		 Total
£
184,599
184,599
157,254
3,317
160,571
24,028
27,345

Page 13

The Poultry Club

Notes to the Financial Statements for the Year Ended 31 March 2023

12 Fixed asset investments

12 Fixed asset investments
Investments
Other investments
Cost or Valuation
At 1 April 2022
Revaluation
Additions
Disposals
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
13 Stock
Stocks
14 Debtors
Trade debtors
Prepayments
Other debtors
15 Cash and cash equivalents
Cash on hand
Cash at bank
Short-term deposits		 2023
£
78,452
Listed
investments
£
134,436
(7,536)
1,552
(50,000)
78,452
78,452
134,436
2023
£
13,656
2023
£
2,449
2,499
4,002
8,950
2023
£
81
73,743
81,467
155,291		 2022
£
138,275
Total
£
134,436
(7,536)
1,552
(50,000)
78,452
78,452
134,436
2022
£
14,241
78,452
78,452
134,436
2023
£
13,656
2023
£
2,449
2,499
4,002
8,950
2023
£
81
73,743
81,467
155,291
2022
£
6,476
54,511
4,002
64,989
2022
£
69
20,265
40,825
61,159

Page 14

The Poultry Club

Notes to the Financial Statements for the Year Ended 31 March 2023

16 Creditors: amounts falling due within one year

16 Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals		 2023
£
345
288
30
20,433
21,096		 2022
£
1,528
590
1,678
23,877
27,673

17 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £104 (2022 - £Nil).

18 Funds

Unrestricted
General
Unrestricted
General		 Balance at 1
April 2022
£
278,338
Balance at 1
April 2021
£
271,519		 Incoming
resources
£
36,300
Incoming
resources
£
58,862		 Resources
expended
£
(55,355)
Resources
expended
£
(52,043)		 Balance at 31
March 2023
£
259,283
Balance at 31
March 2022
£
278,338

Page 15

The Poultry Club

Notes to the Financial Statements for the Year Ended 31 March 2023

19 Analysis of net assets between funds

19 Analysis of net assets between funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
24,028
78,452
177,897
(21,096)
259,281
Unrestricted
funds
General
£
27,347
138,275
140,389
(27,673)
278,338		 Total funds at
31 March
2023
£
24,028
78,452
177,897
(21,096)
259,281
Total funds at
31 March
2022
£
27,347
138,275
140,389
(27,673)
278,338

Page 16

The Poultry Club

Statement of Financial Activities by fund for the Year Ended 31 March 2023

Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
Total income
Expenditure on:
Raising funds
Charitable activities
Gain/(loss) on programme related investments
Total expenditure
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Unrestricted
funds
2023
£
3,635
20,724
8,905
3,036
36,300
(4,329)
(46,424)
(4,602)
(55,355)
(19,055)
(19,055)
278,338
259,283		 Unrestricted
funds
2022
£
4,180
32,539
19,994
2,149
58,862
(7,537)
(48,345)
3,839
(52,043)
6,819
6,819
271,519
278,338

This page does not form part of the statutory financial statements. Page 17

The Poultry Club

Detailed Statement of Financial Activities for the Year Ended 31 March 2023

Donations and legacies
Sundry income and donations
Gift Aid tax reclaimed
Charitable activities
Subscriptions
National Show/Egg Show income
Other trading activities
Judging tests
Ringing scheme
Sales of merchandise
Sale of British Poultry Standards
Royalties
Advertising and sponsorship income
Investment income
Dividends from shares in associated undertakings
Interest on cash deposits
Raising funds
Opening stock
Ringing scheme
Merchandise (incl standards book)
Closing stock
Advertising		 Total
2023
£
3,635
-
3,635
19,164
1,560
20,724
-
6,126
205
-
74
2,500
8,905
1,747
1,289
3,036
(7,670)
(4,023)
(279)
7,871
(228)
(4,329)		 Total
2022
£
2,680
1,500
4,180
31,568
971
32,539
263
11,228
720
277
106
7,400
19,994
1,746
403
2,149
(6,840)
(6,475)
(1,400)
7,670
(492)
(7,537)

This page does not form part of the statutory financial statements. Page 18

The Poultry Club

Detailed Statement of Financial Activities for the Year Ended 31 March 2023

Charitable activities
Trustees expenses
Secretary's expenses
Insurance
Rosettes, awards and prize cards
Junior promotional packs
European entente and memberships
Postage expenses
Telephone and fax
Computer and website costs
Printing and stationery
Room hire and meeting costs
National Show/Egg Show expenditure
Sundry expenses
Advertising and promotional expenses
Accountancy fees
Legal and professional fees
Investment fees
Bad debts written off
Bank charges
Depreciation (incl website)
Staff costs
Other expenditure
Gain/(loss) on programme related investments		 Total
2023
£
(3,443)
(1,070)
(2,035)
(459)
(33)
(117)
(4,061)
(434)
(335)
(4,737)
(2,289)
(2,280)
(542)
(1,091)
(2,052)
-
(304)
(1,540)
(1,277)
(3,317)
(15,008)
(46,424)
(4,602)
(4,602)		 Total
2022
£
(2,363)
(768)
(2,197)
864
(2)
(132)
(4,668)
(634)
(352)
(3,872)
(873)
(3,515)
(206)
(590)
(2,237)
(2,370)
(1,401)
1,007
(1,817)
(3,382)
(18,837)
(48,345)
3,839
3,839

This page does not form part of the statutory financial statements. Page 19