Charity re¥i5tratioii number.. 298415 The Poultry Club Annual Report and Financial Statements flir the Year Ended 31 March 2024 ACCA TYNEREDE A£COUNTAN¢V
The Poultry Club Contents Reference and Administrative Details Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 6t016
The Poultry Club Refer¢n¢¢ and Administrative D¢tails Chairman Mr Lee Grant Trustees Mr Alexander James Young Mr Paul Kerfooi Mr Thomas William Oldcorn Mr Lee Grant Mr Jonathan Michael Grnbb Mr David Paiinell Mr Tom Davis Mr Colin Booth Dr Karen Griffiths Mrs Claire Flower Mrs Linda Kathleen Law Charity Registration Number 298415 Principal Office Sedbury Home Farm Gilling West Richmond North Yorkshire DLIO 5LF Accountant TyneRede Accouiitsiicy Ltd Lloyds Bank House Bellingham Hexham Northumberland NE48 2AZ Bankers National Westminster Bank PLC Boston Branch l O Market Place Liiicolnshire PE216EJ Page I
The Poultry Club Statement of Trust¢¢s' R¢sponsibilitie$ The trustees are responsible for preparing the financial Statements in accordance with the United Kingdotn Accountiiig Standard5 (United Kiiigdoni Generally Accepted Accounting Practice) and applicable laTh' and reg5ulation5. The law, applicable to charities requires the trustees to prepare financial staiements flir each financial year which give a true and fair view of the state of affairs of the charity and of ihe incoming resources and application of resources of the charity for that period. In preparing these financial statements. the trustees are required to.. select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; state 'hether applicable accountin£ st[dardS have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accliunting records that disclose '1th reasonable accuracy at any time the fiiiancial positioii of the charity and enable them to ensure that the financial statements comply with th¢ Charities Act 201 l. the applicable Charities (Accounts and Reports) Regulations. and the provisions of th¢ constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and dctectioii of fraud and other irregularities. Approved by the trustees of the charity on 20 October 2024 and signed on its behalf by.. Lee Grant Chaimian Page 2
The Poultry Club Ind¢p¢ndent Examiner's Report to the trustees of The Poultry Club I report to the trnstees on Tlly examination of the accounts of The Poultry Club for the year ended 31 March 2024. Responsibilities and basis of report As the charity trllstees of The Poulty Club you are responsible for the preparation of the accounts in accordance 'ith the requirements of the Charities Act 2011 ('the Act,). I report iii respect of Tny examiiiation of the The Poulty Club'5 accounts CRTTied out under section 145 of the 2011 Act aiid iii carrying out Tny exaTniiiation I have follom'ed all the applicable Directions given by the Charity Coinmissioii under Section 145(5Mb) 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.. accounting reLtsrds were iiot kept in respect of The Poultry Club as required by sectioii 130 of the Act; or 2. the accounts do not accord with those records,. or 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 iiot a matter considered as part of an iiidepcndcnt examination. I have no concems and have come across no other matters in conneciion with the examination to which attentilin 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 20 October 2024 Page 3
The Poultry Club St#t¢m¢nt of Finan¢ial Activities for the Year Ended 31 March 2024 Total 2024 Total 2023 Unrestricted Note Income and Endowments fro. Donations and legacies Charitable activities Other trading aetivities Investment income 6,915 27,150 9,076 6,915 27,150 9,076 3,241 3,635 20,724 8,905 3,036 Total Income 46.382 46,382 i6,300 Expenditure on: Raising funds Charitable activities Gainl(lossl on programme related investments (3,581) (41,098) 2,813 13,581} (41,098) 2,813 14,329) (46,424) 14,602} Total Expenditure (41,866) (41,866) (55,355} Net movement in funds 4,516 4,516 (19,055) Reconciliation of funds Total funds brought forward 259,281 259,281 278,338 Total funds carried fonvard 263,797 263,797 259,28i The movement in funds before and after gains and losses on programme related investments are disclosed below.. Fund movement before gainl(loss) on programme related investments £1,703 (2023 (£14,453)). Fund movement after gain/(loss) on programme related investments £4,516 (2023 (£19,055)). L055 on investments differ5 to the revaluation amount included in note 12 of the accounts due to realised ¥ains on the inaturity of two investec plans during tlie year. All of the charity's activitie5 derive from continuing operations during the above two periods. The funds breakdown for 202) and 2022 are shown in note 18. The notes on pages 6 to 16 forni ali integral part of these financial siatements. Page 4
The Poultry Club {Registration number: 298415) Balanee Sheet as at 31 Mareh 2024 2024 2023 Note Fixed assets Tangible assets Investments 23,305 53,198 24,028 12 76,503 10?,480 Current assets Stocks 13,656 8,384 178,804 13,656 8,950 155,291 Debtors Cash at bank and in hand 14 15 200,844 177,897 Creditors: Amounts falling due within one year 16 (13,550) (21,0961 Net current assets 187,294 156,801 Net assets 263.797 259,281 Funds of the charity: Unrestricted income funds Unrestricted Is 263.797 259,283 Total funds 19 263,797 ?59,283 The financial statement on pages 4 to 14 were approved by the tustees, and aurhorised for issue 20 October 2024 and signed on their behalf by.. Lee Grant Chairnian The notes on pages 6 to 16 forni ali integral part of these financial siatements. Page 5
The Poultry Club Notes to th¢ Financial Statements for th¢ Year Ended 31 MAr¢h 2024 Aeeounting polieies Statement of copIlance The financial statements have been prepared in accL)rdance '1th the second editilin of the Charities Statement of Recommended Practice issued in October 2019, the Financial Repofting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102) and the Charities Act 2011. Basis of preparation The Pollltry Club meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepgred under the hisiorical cost convention 1th items recognised ai cost or transaction value iinless othenvise 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 l (FebTuary 2016) and have therefore not included a cash flow statement in these financial statenients. Going concern The 2021 and 20?2 National Show was cancelled due to Aviat] Infliienza restrictions however a replacement Egg Show took place in ?022, the 2020 National Show was also cai)celled due to Covid-19. The 2019 Show resulted iii a very, small SUTplus. Not havijig this surplus will have a neglifwible effect. It is recognised that 'ithout a Deceinber Sl)ow n)en)ber5hip could fall as many meTnbers pay membet5hip with their sl)ow entry. Given the strength of the balance sheet aiid availability and liquidity, the trustees believe that while uncertaiiity exists, thi5 does not pose a material UllLertainty that would cast doubt oli the charity's ability to continue as a ¥oing LonLeTn. The trusttes therefort consider it appropriate for the aLLounts to be prepared oli a goin¥ coiicern basi5. Reserves Sufficient reserve5 eX15t to ensure that any liability that may occur in the following 12 tnonths may be met. At 3 1st March 2023 the trustees consider that £70,000 15 sufficient. Income and endowments Voluntary. income iiicluding doiiations: ¥ifts, legacies and gFrant5 that provide core funding or are of a ¥eneral nature is recogFnised when the charity has eiititlement to the income, it is probable that the incoine will be received and the amount can be measured with sufficient reliability. Donulions and legocies Donations and legacies are reclignised on a receivable basis when receipt is probable and the amount can be reliably measured. liiwe5tmenl income Interest on fund5 held oil deposit 15 iiicluded when receivable and the amount can be measured reliably by the charity; this is Iiotinally upoii notification of the iiiterest paid or payable b), the bank.Divideiids are recogFnised once the dividend ha5 been declared and notification has been received of the dividend due. Page 6
The Poultry Club Notes to th¢ Financial Statements for th¢ Year Ended 31 MAr¢h 2024 Expenditure All expcnditur¢ is a¢counted for on an ac¢ruals basis and has been clgssified under headings that aggregat¢ all costs related to any given category. Costs not yet invoiced. but h¢re goods or services have been provided, are included where the amount owed can he estimated reliablv. Where tiining of costs are uncertain, amounts are classified gs a provision. Rui5ingfuMds These are costs incurred ii) attracting voluntary income. the management of investments and those incurred in trading activities that raise funds. Chdriidble aclivilies Charitable expClldire comprise% those costs inciirred by the ¢harity in the delivery of its activities and services for its bcnefi¢iari¢s. It iiicludes both costs that can be allocgied directly io su¢h artivities and those Costs of an indirect natur¢ necessary to support them. Taxation The Poiiltry Club of Great Britain 1% a charity .]thin the megning of Paragraph I Schedule 6 Financ¢ Act 2010. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gFain5 Wlthin categories covered by Chapter 3 of Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of CharLFeable Gain5 Act 199?,to the extent that such income or gaiiis are applied exclusively for charitable purpose5. No tax charge arose iii the period. Tangible fixed assets Individual fixed assets C05ting £100.00 or more are iiiitially recorded at Cost. D¢preciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated iesidual Value. over their expeLttd useful economic life as folloNws'. Asset class Website Office equipment Equipment Depreciation method and rate 200/0 Strai&Tht line ba5lS 250/0 Straight line basls 250/0 reducing balance Impairment of fixed assets Trophies are held gt fair value where this can be reliably measured and assets are impaired for any reduction in value. Fixed asset investments Fixtd asset ii)vestments, Other than programine related investmei)ts, are included at maTket value at the balance sheet date. Realised gains and losses on investinei)ts are Calculated as the difference between sales proceeds and their market value at the start of the year, or theii subsequent cost, and are charged or crtdited to the Stattn)tnt of Financial Activities it) 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 th¢ Financial Statements for th¢ Year Ended 31 MAr¢h 2024 Leases Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Pavments made under operating leases are chaiged 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 prlivided and subscriptions occuring in the ordinary course of the charit}"s activities. Cash cash equivulents Cash and cash equivalenis comprise cash on hand and call deposits, and other short-temTr highly liquid investmenis that are readily converrible to a known amount of cash and are subject to an insignificant risk of change in value. Trade ereditors CTediiors are obligations to pay for goods or services that have been acquired in the ordinary course of the charity from suppliers. Accoiints payable are classified as current liabilities if the charity does not have an unconditioiial ritwht, at the end of the reporting period, to defer settlement of the creditor for at least M".elve Inoiiths after the reporting date. If there is an uiiconditional right to defer settlement for at least twelve months after the reporting date, they are presented as noj1-cutnt liabilities. Fund strueture Unrestricted income funds are general ndS that are available for use at the tnjstees's discretion in rtherance of the objective5 of the charity. Financial instruments ClaSbificutio Financial assets aiid financial liabilities are recognised w'hen the Charity becomes a party to the contractual provisions of the instrutnent. FiiianLial liabilities and equity InStlneljls are classified according to the substance Of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interesi in the assets of the chariiy after deduciing all of its liabiliiies. Page 8
The Poultry Club Notes to th¢ Financial Statements for th¢ Year Ended 31 MAr¢h 2024 ReLognilion cndmeasuremenl All financial assets and liabilities are iiiitially measured at transaction price (itjcludiiig transaction c05ts), except for those financial assets classified as at fair value throuiTh profit or loss, which are initially inea511red at fair value (which is Iiotinally the traiisactioii price ekcludiiig transaction cost5). unles5 the arrangement con5titute5 a Iinancing transaction. If ali arrangement constitutes a linaiiLing transaction. the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of iiiterest for a similar debt instnjment. Fiiiancial assets and liabilities are only offset in the stateinent 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 setile the liabiliti, 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 substantiallv all of ihe 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 'hell the obligation specified in Ihe contract is discharged, cancelled or expires. Fair vftlue e.¥TeMen1 The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailablt. the price of a re¢ei)t transaction foi an identical asset provides evidence of lair valut as long as there l)as not been a significai)t change in economic ¢ir¢uinstancts or a significant lapse of tiine since the trai)sactioi) took place. If the inarket IS l)ot active and recent trdnsactions of ali identical asset on their are not a good estimate of fair value, the fair value is estimated by using a valuatioi) techiiique. 2 Incorne frorn donat10115 and legacie5 Unrestricted funds General Total 2024 Total 2023 Donations ai)d legacies; Donations from iiidividuals Gift aid reclaiined 3.755 3,160 3,6i5 3,160 6.915 6.915 3.6)5 3 Income from eharitable aetivities Unrestricted Total 2024 Total 2023 General Subscriptions National ShowlEgg Show income 21,482 5,668 21,482 5,668 19,164 1,560 27,150 27,150 ?0,724 Page 9
The Poultry Club Notes to th¢ Financial Statements for th¢ Year Ended 31 MAr¢h 2024 4 Income from other trading activities Unrestricted T(Ital 2024 Total 2023 General Tradillg income; Judging tests Ringing scheme Sales of mtrchandise Sale of British Poultry Standards Royaltie5 Advertising and sponsorship income 25 5,543 56 25 5,543 56 6,126 205 60 60 62 3,330 62 3,330 74 2,500 9.076 9,076 8,905 5 Investment ineome Unre51ricted Total 2024 Total 2023 General Income from dividends: Dividends receivable Interest reeeivable and similar income; Interest receivable on bank deposits 1,747 3,241 3,241 3,241 3,241 3,036 Page 10
The Poultry Club Notes to th¢ Financial Statements for th¢ Year Ended 31 MAr¢h 2024 6 Expenditure on raising funds a) Costs of trading activities Unrestricted Total 2024 Total 2023 General Openii)g stock RingingF scheme Merchandise {incl standards book) Closing stock Marketing and publicity 7,871 3,420 7,871 3,420 161 7,670 4,02i 279 (7,871) (7,871 } {7,871) 228 3,581 3,581 4,329 7 Expenditure on charilable activities Unrestricted Total 2024 Total 2023 General Staff costs Trustees expenses Secretary s expenses Insurance 14.154 3,882 446 14,154 3,882 446 2,?94 486 15,008 3.44i 1,070 2,Oi5 459 33 117 4,061 Rosettes, awards and prize cards Junior promotional packs European entente and memberships Postage expenses TelephoJ)e and fax Computer and website costs Printing and stationery Room hire and meeting costs National ShowlEgg Show expenditure Sundry expenses Advertising and promotional expenses Accountaiic), fee5 Investtneiit fees Bad debts written off Bank charges Depreciation {incl website) 486 179 3.225 348 179 3,225 348 ?26 5,359 83 3,194 687 480 2,148 226 5,359 83 3,194 687 480 2,148 3i5 4,737 2,289 2,280 542 1,091 2.052 304 1,540 ,771 ,413 ,771 1,413 72i 3.317 41,098 41,098 46,424 Page 11
The Poultry Club Notes to th¢ Financial Statements for th¢ Year Ended 31 MAr¢h 2024 8 Trustees remuneration and expenses During th¢ year th¢ ¢harity made th¢ following transa¢tions with trnst¢es'. Expenses totalling £i.882were 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 benefJt5 from the charity during the year. However P Wilsoii received royalties from the publishers of Standards Books. 9 Staff ¢0s1s The aggrega payroll costs were as follows.. 2024 2023 Staff costs during the year were: Wages and salaries 14,154 15,008 No employee received emoluments of more Ihan £60,000 during the year 10 Taxation The charity is a regisiered charity and is therefore eyempt from taxation. Page 12
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The Poultry Club Notes to th¢ Financial Statements for th¢ Year Ended 31 MAr¢h 2024 12 Fixed asset investments 2024 2023 Investments 53,198 78,452 Other investments Listed inwestmLnts Total C05t or Valuation At l April 2023 78,45? 2.814 78.452 Revaluation Disposals 2,814 At 31 March 2024 53,198 53,198 Net book value At 31 March 2024 53,198 53.198 At 31 March 2023 78,452 78,45? 13 Stoek 2024 2023 Siocks 13,656 14 Debtors 2024 2023 Trade debtors Prepayments Other debtors 236 4,146 4,002 2,449 2,499 4,002 8,384 8,950 IS Cash and cash equivalents 2024 2023 Cash on hand Cash at bank Short-tem] deposits 75 95,057 83,672 81 73,743 81,467 178,804 155,?91 Page 14
The Poultry Club Notes to th¢ Financial Statements for th¢ Year Ended 31 MAr¢h 2024 16 Creditors: amounts falling due within one year 2024 2023 Trade creditors Other taxation and social securiry Otlier creditors Accrnals (284) 532 74 13,228 345 288 20,433 13.550 21,096 17 Pension other sehemes Defined contribution pension scheme The charity operntes a defined coniribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £104 (202) - £Nil). 18 Funds Balanee at I April 2023 Ineoming resources Resourees expended Balance at 31 March 2024 Unrestrieted General 259,281 46,382 (41,866) 263,797 Balance at I April 2022 Incoming resources Resource5 expended Balance at 31 March 2023 Unrestricted General 278,338 36,300 (55,355) 259,283 Page 15
The Poultry Club Notes to th¢ Financial Statements for th¢ Year Ended 31 MAr¢h 2024 19 Analvsis of net assets between funds Unrestricted funds General Total funds at 31 March 2024 Tangible fixed assets Fixed asset investments Current assets Current liabilities 23,305 53,198 200.844 (13,i50) 23,305 53,198 200,844 (13,550} Total Iiet asset5 263,797 263,797 Unrestricted funds General Total funds at 31 March 2023 Tangible fixed assets Fixed asset investments Current assets c.urrent liabilities 24,028 78,452 177,897 (21,096) 24,028 78,452 177,897 (21,096} Total net assets li 259,281 259,281 Page 16
The Poultry Club St#tem¢nt of Finan¢ial Activiti¢s by fund for the Year Ended 31 March 2024 Total Unrestrieted funds 2024 Unrestricted funds 2023 Income and Endowments fro. Donations and legacies Charitable activities Other trading activiiies Investment income 6,915 27,150 9,076 3,241 3,635 20,724 8,905 Total income 46,382 36,300 Expenditure on: Raising funds Charitable activities Gainl(lossl on programme related investments (3,581) (41,098) 2,813 14.329} (46.4241 14,602 Total expenditure 41,866 55,355 Net in¢omel{expenditure) 4,516 19,055) Net movement in nd% 4,516 (19,055) Reconciliation of funds Total funds brought forward 259.281 278,338 Total funds carried fon¥ard 263,797 259,283 This page does nor forni part of the statutory financial staiements. Page 17
The Poultry Club D¢t#il¢d Statement of Financial A¢tivities for the Year Ended 31 Mar¢h 2024 Total 2024 Total 2023 Donulions legocies Sundry income and donations Gift Aid tax reclaimed 3,755 3,160 3,635 6,915 3,635 Churituble ULlivilieJ Subscriptions National ShowlEgg Show income 21,482 5,668 19,164 I,)60 27,150 20,724 Olher Irading ¢1{VIlle5 Judging tests Ringing scheme Salts of merchandise Sale of Brit15h Poultry Standard5 Royalties Advertising and sponsorship income 25 5,543 56 60 62 3,330 6,126 205 74 2,500 9,076 8,905 Inveslnielli income Dividends from shares in associated undertakings Interest 01) cash deposits 1,747 1,289 3,241 3,241 3,036 Roisuigfunds Opeiiing stock Ringing scheme Merchandise {incl standards book) Closing stock Advertising (7,871) (3,420) {7,670} {4,023) {279) 7,871 {2281 7,871 (3,581) 14,3991 This page does nor forni part of the statutory financial staiements. Page 18
The Poultry Club D¢t#il¢d Statement of Financial A¢tivities for the Year Ended 31 Mar¢h 2024 Total 2024 Total 2023 Chdri14ble aclivilies Trustees expenses Secretary's expenses Insurance Rosettes. awards and prize cards Junior protnotioiial packs Europetui entente at]d memberships Po%tage expenses Telephone and f Computer and w'ebsite costs Printing and statioi)ery Room hire and meetin¥ Costs National ShowlEgg Show expenditure Sundry expenses Advertising and promotional expenses Accountancy. fees Investment fees Bad debts writteii o Bdiik chaiges Depreciatioii {incl website) Staff costs (3,882) (446) (2,294) (486} (3,443) 11,0701 12,035} {459) (i3} 1179} (3,?25) (348) {4,061 } {434) 1335) 14,737} 12,289} {2.280} {542) 11,091) 1? 052) {304) (1,540} 11,277} l).317} 15,0081 (5,359) 183) (3,194) 1687} (480) (2,148) (1,771) (1.413) (723} 14,154 (41,098) (46,424} Olher wendllure Gainl(lossl on progrnmme related investments 2,81i 14,602} 2,813 14,602) This page does nor forni part of the statutory financial staiements. Page 19