## **COUNTY CHAIRMAN’S REPORT 2020 – 21**
After what has been a turbulent 2 years, worldwide developments in the Covid-19 vaccination programme and the re-opening of society has seen our clubs and county federation spring back into life – with much needed vigour.
The past 12 months have been challenging for everyone involved in the YFC movement but it has been great to see so many members getting involved with the events and activities that have been put on; whether they were virtual or face to face, everyone who took part or supported - showed true commitment to the YFC motto ‘Fun, Learning & Achievement’.
In the Autumn of 2020, we were lucky to be selected as one of two counties to start the NFYFC Give it Some Welly relay, in which clubs walked across Cornwall – raising funds for Cornwall YFC. It was brilliant to see so many getting involved and really kick starting the new membership year which subsequently has seen a really successful competitions programme, with Halloween, Bonfire Night, Remembrance Day, Christmas and Chinese New Year virtual competitions – the standard of entries across all of the themes were exceptional and every member who competed should be very proud.
A particular winter highlight, was the ‘Christmas with Cornwall YFC’ event – held virtually live from Crusader House in Truro. For the first time in 9 months, the county team along with Oatey Media put on a festive evening of storytelling, carols and readings which is synonymous with the federations usual Christmas spirit.
Towards the start of summer and the easing of Lockdown restrictions, we were lucky enough to be allowed to host a face-to-face Stock judging day near Bodmin, organised by our GP Chairman Becky Blanchard. The hard work and organisation behind the scenes proved for a fantastic day and a much-needed kick start to the summer of face-to-face events.
The pinnacle of the YFC calendar was the County Rally, this year dubbed the ‘Super Sunday’ rally, held at Kilhallon Farm, St Blazey. The event was one of the best attended rallies for a number of years and it was fantastic to see so many members and clubs represented at the day. The weather held and other than the greasy pole pit emptying itself at 8am on the day, it was great to see everyone who attended enjoyed themselves.
What seems to have been a quiet few months, have in fact been anything but ….. and all of the events would not have been possible without the hard work and dedication of the Cornwall YFC team.
Cornwall YFC is blessed to have a team of staff and officers who I owe an awful lot of this year to.
Rachael, Tom, Becky, Sophie, Claire, Brett & Jono – your support has been incredible, and I could not have done this without you.
Likewise, the staff team in the office – Kelly, Fiona, Kate, Alice & Becky – the work that goes on behind the scenes is immeasurable and without all of your hard work, the federation would not be in the position it is today.
I must thank everyone who has supported the MyMindMatters campaign. To see the membership and wider rural community support the initiative has been incredible and hopefully with the money and awareness that we have raised, we will continue to support those who need it.
Looking ahead, the new officer team have a great opportunity to rebuild and reinvigorate the federation and after 2 years of Covid disruption – what a perfect team to lead the way!
## _Ben Cavill_
## **County Chairman 2020-2021**
# **CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS**
**PAVILION CENTRE SHOWGROUND WADEBRIDGE CORNWALL PL27 7JE**
**CHARITY NUMBER 300649 REGISTERED IN ENGLAND AND WALES**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021**
CORNWALL FEDERATION OF YOUNG FARMERS` CLUBS
## CONTENTS
|PAGE||
|---|---|
|1 TO 3|ANNUAL REPORT|
|4|INDEPENDENT EXAMINERS REPORT|
|5|STATEMENT OF FINANCIAL ACTIVITIES|
|6|BALANCE SHEET|
|7 TO 10|NOTES TO THE FINANCIAL STATEMENTS|
|**The following**|**pages do not form part of the statutory financial statements**|
|11|DETAILED ANALYSIS OF INCOME AND EXPENDITURE|
**PAGE 1**
**CORNWALL FEDERATION OF YOUNG FARMERS` CLUBS TRUSTEES REPORT FOR THE YEAR TO 31 JULY 2021 PAVILION CENTRE SHOWGROUND WADEBRIDGE CORNWALL PL27 7JE**
## **REGISTERED CHARITY NUMBER 300649**
The Trustees present their report and accounts for the year ended 31 July 2021
## **Trustees**
The following Trustees have served during the year:
Ben Cavill Edward Talling Rachael Benney Samuel Wakeham Tom Retallick Katie Jenkin Becky Blanchard Tom Sandow Sophie Olds Daniel Richards Claire Worden Samuel Oatey Brett Burchell Tegan Arthur Josh Bloye Joey Wagstaff Kerys Pearce Jordan Edyvean Katie Jack Hannah Northcott James Hosking Aidan Kent Lewis Bradley Thomas Eddy Beth Bosley Ezmee Reynolds Ross Grindrod William Hosking Jess Hicks Maddy Tabb Heather Street Shannon McMillan Jonathan Gilbert Megan Stratton Zeinab Weyers Dan Kellow Oliver Gilbert Grace Symons Sam Maddever Conan Runnalls Hattie Congdon Alfie Seggons Nicholas Uglow Tristan Orchard Isabel Heal Kieran Varker Matthew Halls Francesca Rickard Dan Lethbridge Mason Evans Laura Moore Kelly Parsons Jack Wilton Samuel Roberts Dan Tuckett Becky Howard Beth Whell Mike Champion William Bonney Chloe Olver Millie Olds Oliver Jay Will Hosking Chris Cardell (NFU Rep) Amy Roskilly Ed Harris James Ede Beatrice Dyer
Shirley White Tom Pearce Michael Melrose Emily Marks Martin Webb Sam Hodge Nicola Lyne
**PAGE 2**
**CORNWALL FEDERATION OF YOUNG FARMERS` CLUBS**
|**Independent Examiner:**|C Rouse (ACCA)|
|---|---|
||Balme, Kitchen & Pearce Ltd|
||Chartered Accountants|
||25 Lemon Street|
||Truro|
||Cornwall|
||TR1 2LS|
|**Bankers:**|Barclays Bank Plc|
||14 King Street|
||Truro|
||Cornwall|
||TR1 2RB|
## Governing Document
The Cornwall Federation of Young Farmers` Clubs is governed by a Deed of Constitution dated 14[th] October 2015.
## How Our Activities Deliver Public Benefit
Our main activities and who we try to help are described below. The main areas of charitable work are organising county activities and the skills for life programme for young farmers.
## Objectives and Activities
The objects of the federation are: -
- (a) To advance the education of young members of the public at large in agricultural, homecrafts, country life and related subjects, and
- (b) In the interest of the social welfare of such members, to provide and promote the provision of facilities for recreation and other leisure time occupations, being facilities which will improve their conditions of life and will assist in the development of their spiritual and mental capabilities, self reliance and individual responsibility so that they may grow to full maturity as individuals and members of the community.
The activities are similar to previous years of arranging County Activities and Training for Young Farmers.
## Review of the year
During the year the Federation utilises existing assets to cover the loss of £9,670. COVID-19 and national lockdowns restricted all activities greatly limiting fundraising opportunities and income from membership. The trustees consider the Federation to still be in a strong position.
## Reserves Policy
The Trustees consider that reserves of at least £50,000 should be retained in order to cover the average annual expenditure.
**PAGE 3**
## **CORNWALL FEDERATION OF YOUNG FARMERS` CLUBS**
## Trustees Selection
Trustees are nominated by other young farmers branches at their own Annual General Meetings and then subject to being confirmed at the charity’s own Annual General Meeting.
## Trustee Induction & Training
New Trustees are briefed on their legal obligations under charity law, the Charity Committee guidance on public benefit, the decision making process and the recent financial performance of the charity.
Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
## Risk Management
The Trustees have a risk management strategy which comprises of an annual review to discuss those risks identified and plan procedures to minimise any potential impact on the charity should those risks materialise.
## Organisation
There is a part time county organiser who deals with the running of the charity under the supervision of the chairperson.
## Statement of Trustees responsibilities
The Trustees are required under the Charities Act 2011 to prepare financial statements for each financial year, which give a true and fair view of the Federation’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and
- (a) select suitable accounting policies and apply them consistently;
- (b) make judgements and estimates that are reasonable and prudent;
- (c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
- (d) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose, with reasonable accuracy, the financial position of the Federation and which enables them to ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of the Federation and hence for taking responsible steps for the prevention and detection of fraud and other irregularities.
## Approval
This report was approved by the Trustees on and signed on their behalf by:
Trustee
**PAGE 4**
## **CORNWALL FEDERATION OF YOUNG FARMERS` CLUBS**
Independent Examiner’s Report to the Trustees of The Cornwall Federation of Young Farmers` Clubs
I report on the accounts of the charity for the year ended 31 July 2021, which are set out on pages 5 to 10.
## Respective Responsibilities of Trustees and Examiner
The charity’s Trustees consider that an audit is not required for this year in accordance with the Charities Act 2011 (the Act), and that an independent examination is needed. It is my responsibility to:
- Examine the accounts (under section 145 of the Act, as amended),
- To follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b)) of the Act, as amended), and
- To state whether particular matters have come to my attention.
## Basis of Independent Examiner’s Report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosure in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
## Independent Examiner’s Statement
In the course of my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that;
- proper accounting records are kept (in accordance with section 130 of the act) and
- accounts are prepared which agree with the accounting records and comply with the accounting requirements of the act; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
C Rouse (ACCA) Balme, Kitchen & Pearce Ltd Chartered Accountants 25 Lemon Street Truro Cornwall TR1 2LS
## **PAGE 5**
## **CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021**
|3
INCOMING RESOURCES
Incoming resources from generated funds: -
Voluntary Income
Activities for generating funds
Bank interest
RESOURCES EXPENDED
Costs of generating funds: -
Voluntary Income
Charitable Activities
Governance Costs
Total resources expensed
Net income/(Deficit)
Adjustment to opening balances
Funds brought forward
Funds carried forward|NOTE
2
3|Unrestricted
Restricted
Funds
Funds|2021
Total|2020|
|---|---|---|---|---|
|||||Total|
|||40,040
40,040
32,779
41,868
41,868
159,670
42
42
397|||
|||£81,950
£81,950 £192,846|||
|||5,294
5,294
9,873
66,995
66,995
134,306
19,330
19,330
21,491|||
|||£91,619
£91,619 £165,670|||
|||(9,670)
(9,670)
27,176
310,453
310,453
283,277|||
|||£300,783
£300,783 £310,453|||
The Statement of Financial Activities includes all gains and resources expended and derive from continuing activities.
The notes on pages 7 to 10 form part of these accounts.
**PAGE 6**
|**CORNWALL FEDERATION OF YOUNG FARMERS’**|**CORNWALL FEDERATION OF YOUNG FARMERS’**|**CLUBS**||||
|---|---|---|---|---|---|
|**BALANCE SHEET AS AT 31 JULY 2021**||||||
||NOTE||2021||2020|
|FIXED ASSETS|7||3,599||4,498|
|CURRENT ASSETS||||||
|Stock||3,000||1,767||
|Debtors|8|
7,592||7,758||
|Cash at Bank||292,461||326,958||
|||303,053||336,483||
|CURRENT LIABILITIES||||||
|CREDITORS:||||||
|Amounts due within one year|9|5,869||30,530||
|NET CURRENT ASSETS|||297,184||305,953|
|TOTAL ASSETS LESS CURRENT LIABILITIES|||**£300,783 **||**£310,453**|
|FUNDS OF THE CHARITY||||||
|UNRESTRICTED FUNDS:||||||
|Accumulated Fund|||**£300,783 **||**£310,453**|
|These accounts were approved by the Trustees on||||||
Trustee
The Notes on pages 7 to 10 form part of these accounts.
**PAGE 7**
## **CORNWALL FEDERATION OF YOUNG FARMERS` CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021**
## **1. ACCOUNTING POLICIES**
## **a. Basis of Accounting**
The financial statements have been prepared under the historical cost convention and follow the recommendations in the Accounting by Charities – Statement of Recommended Practice. Consolidated Accounts have not been prepared.
## **b. Fund Accounting**
- Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.
- Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
## **c. Incoming Resources**
These are included in the Statement of Financial Activities (SoFA) when:
- The charity becomes entitled to the resources;
- The Trustees are virtually certain they will receive the resources; and
- The monetary value can be measured with sufficient reliability
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.
## **d. Investment Income**
This is included in the accounts when receivable.
## **e. Liability Recognition**
- Liabilities are recognised as soon as there is a legal or constructible obligation committing the charity to pay out resources.
- **f. Governance Costs**
Include costs of the preparation and examination of statutory accounts, the costs of Trustees meetings and cost of any legal advice to Trustees on governance or constitutional matters.
## **g. Assets**
These are capitalised if they can be used for more than one year and cost at least £500. They are valued at cost, or if gifted at the value to the charity on receipt.
## **h. Depreciation**
Depreciation is provided on all tangible fixed assets in use at rates and bases calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows: -
- Equipment 20% per annum on the reducing balance method
## **i. Stock**
Stock is included at the lower of cost or net realisable value
- **j. Operating lease agreements** Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.
**PAGE 8**
## **CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021**
## **2. ANALYSIS OF INCOMING RESOURCES**
|**2. ANALYSIS OF INCOMING RESOURCES**|**2. ANALYSIS OF INCOMING RESOURCES**|**2. ANALYSIS OF INCOMING RESOURCES**|
|---|---|---|
|Unrestricted
Restricted
2021
2020
Voluntary Income
Grants
10,000
10,000
12,000
Donations
21
21
0
Community Wind Turbine
2,500
2,500
2,500
Contribution to overheads
26,967*
26,967
10,911
My Mind Matters
532
532
7,164
Printing sales
20
20
204
£40,040
£0
£40,040
£32,779
Activities for Generation of Funds
Subscriptions
10,801
10,801
37,170
County Activities
26,067
26,067
119,444
Skills for Life
0
0
0
Charity Fund Raising
0
0
3,056
DCBT
5,000
5,000
0
£41,868
£0
£41,868 £159,670
Investment Income
Bank interest
£42
£0
£42
£397
*Contribution to overheads includes payments from HMRC under the Job Retention Scheme
**3 TOTAL RESOURCES EXPENDED**
Basis of
Voluntary Charitable
2021
2020
Costs directly allocated
Allocation
Income
Activities Administration
Total
Total
to activities:
Skills for Life
Direct
0
0
0
Membership Cards
Direct
251
251
398
National Federation Levy
Direct
19,529
19,529
19,987
County Activities
Direct
6,617
6,617
71,532
Community Wind Turbine
Direct
2,000
2,000
2,000
My Mind Matters Campaign
Direct
210
210
160
Members’ insurance
Direct
5,840
5,840
5,876
Support costs allocated to activities:
Staff Costs
Staff time
4,530
22,649
18,119
45,299
42,306
Travel & officers
Direct
2,567
27
2,595
4,979
Administrative expenses
Usage
2,380
420
2,801
3,135
Premises running costs
Usage
441
3,532
411
4,414
7,948
Depreciation
Usage
90
720
90
900
1,124
Meeting expenses
Direct
0
0
542
Accountancy & Bookkeeping
Usage
233
699
233
1,164
1,175
Donations
Direct
0
0
4,500
5,294
66,995
19,330
£91,619 £208,572|||
||Direct
Direct
Direct
Direct
Direct
Direct
Direct
Staff time
Direct
Usage
Usage
Usage
Direct
Usage
Direct|0
0
0
251
251
398
19,529
19,529
19,987
6,617
6,617
71,532
2,000
2,000
2,000
210
210
160
5,840
5,840
5,876
4,530
22,649
18,119
45,299
42,306
2,567
27
2,595
4,979
2,380
420
2,801
3,135
441
3,532
411
4,414
7,948
90
720
90
900
1,124
0
0
542
233
699
233
1,164
1,175
0
0
4,500|
|||5,294
66,995
19,330
£91,619 £208,572|
**PAGE 9**
**CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021**
## **4. TAX**
The Charity is entitled to Income Tax and Capital Gains Tax exemption as a Charity under section 505 ICTA 1988.
## **5. STAFF COSTS & NUMBERS**
|Salaries
Social Security Costs
Pensions|2021
2020|
|---|---|
||40,185
37,854
3,125
1,973
1,998
2,479|
||£45,298
£42,306|
|The average number of employees was as follows: -|The average number of employees was as follows: -|The average number of employees was as follows: -|
|---|---|---|
|Administrative|4|4|
|Skills for Life|0|0|
## **6. TRUSTEE REMUNERATION & RELATED PARTY TRANSACTIONS**
Trustees received honoraria of £2,567 (2019: £2,566) during the year, payable to seven members of the management committee.
## **7. TANGIBLE FIXED ASSETS**
|COST
At 1 August 2020
At 31 July 2021
DEPRECIATION
At 1 August 2020
Charge for the year
At 31 July 2021
Net book value at 31 July 2021
Net book value at 31 July 2020|Equipment
44,029|
|---|---|
||44,029|
||39,531
899|
||40,430|
||£3,599|
||£4,499|
## **8. DEBTORS**
|Trade Debtors
Other Debtors|2021
2020|
|---|---|
||7,592
7,758
0
0|
||£7,592
£7,758|
## **9. CREDITORS**
|Trade Creditors
Other Creditors
Accruals|2021
2020|
|---|---|
||2,707
28,649
1992
711
1,170
1,170|
||£5,869
£30,530|
**PAGE 10**
**CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021**
## **10. OPERATING LEASE**
The Charity pays rent for use of its offices, which is currently £2,500 per year.
## **11. SUBSIDIARY**
The Charity has a subsidiary called The Golden Jubilee Trust, which is managed separately.
The Charity has not prepared consolidated accounts as the gross income of the group in the accounting period is less than the threshold for a statutory charity audit.
**THE FOLLOWING PAGE DOES NOT FORM PART OF THE STATUTORY ACCOUNTS**
**Page 11**
## **CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021**
|**INCOMING RESOURCES**
Grants
Donations
Community Wind Turbine
My Mind Matters
Subscriptions
County Activities
Skills for Life
Interest Receivable
Contribution to overheads
Printing sales
Charity Fundraising
**RESOURCES EXPENDED**
Donations
Salaries and Pension Costs
Professional Services
Cost of Membership Cards
National Federation Levy
Travelling and Subsistence
Insurance
Postage and Telephone
Skills for Life
Stationery, Printing and Publicity
Officers Mileage and honorarium
Bank charges
Meeting Expenses
Accountancy
Repairs and Maintenance
Sundry
Rent and Rates
Heat and Light
Community Wind Turbine Expenses
My Mind Matters
County Activities
Depreciation
Bookkeeping
**NET INCOMING/(LOSS)**
**RESOURCES**|0
45,298
278
251
19,529
27
5,840
1,813
0
309
2,567
60
0
1,164
102
1,336
2,500
0
2,000
210
6,617
890
828|**2021**
10,000
20
2,500
532
10,801
31,067
0
42
26,967
20
0
81,950
91,619
**(£9,670)**|4,500
42,306
476
398
19,987
2,413
5,876
1,872
0
2,992
2,566
54
542
1,178
750
1,878
2,500
312
2,000
160
71,532
1,124
274|**2020**
12,000
0
2,500
7,164
37,170
119,444
0
397
10,911
204
3,056|
|---|---|---|---|---|
|||||192,846
165,670|
||||||
|||||**£27,176**|
# **CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS**
**PAVILION CENTRE SHOWGROUND WADEBRIDGE CORNWALL PL27 7JE**
**CHARITY NUMBER 300649 REGISTERED IN ENGLAND AND WALES**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021**
CORNWALL FEDERATION OF YOUNG FARMERS` CLUBS
## CONTENTS
|PAGE||
|---|---|
|1 TO 3|ANNUAL REPORT|
|4|INDEPENDENT EXAMINERS REPORT|
|5|STATEMENT OF FINANCIAL ACTIVITIES|
|6|BALANCE SHEET|
|7 TO 10|NOTES TO THE FINANCIAL STATEMENTS|
|**The following**|**pages do not form part of the statutory financial statements**|
|11|DETAILED ANALYSIS OF INCOME AND EXPENDITURE|
**PAGE 1**
**CORNWALL FEDERATION OF YOUNG FARMERS` CLUBS TRUSTEES REPORT FOR THE YEAR TO 31 JULY 2021 PAVILION CENTRE SHOWGROUND WADEBRIDGE CORNWALL PL27 7JE**
## **REGISTERED CHARITY NUMBER 300649**
The Trustees present their report and accounts for the year ended 31 July 2021
## **Trustees**
The following Trustees have served during the year:
Ben Cavill Edward Talling Rachael Benney Samuel Wakeham Tom Retallick Katie Jenkin Becky Blanchard Tom Sandow Sophie Olds Daniel Richards Claire Worden Samuel Oatey Brett Burchell Tegan Arthur Josh Bloye Joey Wagstaff Kerys Pearce Jordan Edyvean Katie Jack Hannah Northcott James Hosking Aidan Kent Lewis Bradley Thomas Eddy Beth Bosley Ezmee Reynolds Ross Grindrod William Hosking Jess Hicks Maddy Tabb Heather Street Shannon McMillan Jonathan Gilbert Megan Stratton Zeinab Weyers Dan Kellow Oliver Gilbert Grace Symons Sam Maddever Conan Runnalls Hattie Congdon Alfie Seggons Nicholas Uglow Tristan Orchard Isabel Heal Kieran Varker Matthew Halls Francesca Rickard Dan Lethbridge Mason Evans Laura Moore Kelly Parsons Jack Wilton Samuel Roberts Dan Tuckett Becky Howard Beth Whell Mike Champion William Bonney Chloe Olver Millie Olds Oliver Jay Will Hosking Chris Cardell (NFU Rep) Amy Roskilly Ed Harris James Ede Beatrice Dyer
Shirley White Tom Pearce Michael Melrose Emily Marks Martin Webb Sam Hodge Nicola Lyne
**PAGE 2**
**CORNWALL FEDERATION OF YOUNG FARMERS` CLUBS**
|**Independent Examiner:**|C Rouse (ACCA)|
|---|---|
||Balme, Kitchen & Pearce Ltd|
||Chartered Accountants|
||25 Lemon Street|
||Truro|
||Cornwall|
||TR1 2LS|
|**Bankers:**|Barclays Bank Plc|
||14 King Street|
||Truro|
||Cornwall|
||TR1 2RB|
## Governing Document
The Cornwall Federation of Young Farmers` Clubs is governed by a Deed of Constitution dated 14[th] October 2015.
## How Our Activities Deliver Public Benefit
Our main activities and who we try to help are described below. The main areas of charitable work are organising county activities and the skills for life programme for young farmers.
## Objectives and Activities
The objects of the federation are: -
- (a) To advance the education of young members of the public at large in agricultural, homecrafts, country life and related subjects, and
- (b) In the interest of the social welfare of such members, to provide and promote the provision of facilities for recreation and other leisure time occupations, being facilities which will improve their conditions of life and will assist in the development of their spiritual and mental capabilities, self reliance and individual responsibility so that they may grow to full maturity as individuals and members of the community.
The activities are similar to previous years of arranging County Activities and Training for Young Farmers.
## Review of the year
During the year the Federation utilises existing assets to cover the loss of £9,670. COVID-19 and national lockdowns restricted all activities greatly limiting fundraising opportunities and income from membership. The trustees consider the Federation to still be in a strong position.
## Reserves Policy
The Trustees consider that reserves of at least £50,000 should be retained in order to cover the average annual expenditure.
**PAGE 3**
## **CORNWALL FEDERATION OF YOUNG FARMERS` CLUBS**
## Trustees Selection
Trustees are nominated by other young farmers branches at their own Annual General Meetings and then subject to being confirmed at the charity’s own Annual General Meeting.
## Trustee Induction & Training
New Trustees are briefed on their legal obligations under charity law, the Charity Committee guidance on public benefit, the decision making process and the recent financial performance of the charity.
Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
## Risk Management
The Trustees have a risk management strategy which comprises of an annual review to discuss those risks identified and plan procedures to minimise any potential impact on the charity should those risks materialise.
## Organisation
There is a part time county organiser who deals with the running of the charity under the supervision of the chairperson.
## Statement of Trustees responsibilities
The Trustees are required under the Charities Act 2011 to prepare financial statements for each financial year, which give a true and fair view of the Federation’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and
- (a) select suitable accounting policies and apply them consistently;
- (b) make judgements and estimates that are reasonable and prudent;
- (c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
- (d) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose, with reasonable accuracy, the financial position of the Federation and which enables them to ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of the Federation and hence for taking responsible steps for the prevention and detection of fraud and other irregularities.
## Approval
This report was approved by the Trustees on and signed on their behalf by:
Trustee
**PAGE 4**
## **CORNWALL FEDERATION OF YOUNG FARMERS` CLUBS**
Independent Examiner’s Report to the Trustees of The Cornwall Federation of Young Farmers` Clubs
I report on the accounts of the charity for the year ended 31 July 2021, which are set out on pages 5 to 10.
## Respective Responsibilities of Trustees and Examiner
The charity’s Trustees consider that an audit is not required for this year in accordance with the Charities Act 2011 (the Act), and that an independent examination is needed. It is my responsibility to:
- Examine the accounts (under section 145 of the Act, as amended),
- To follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b)) of the Act, as amended), and
- To state whether particular matters have come to my attention.
## Basis of Independent Examiner’s Report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosure in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
## Independent Examiner’s Statement
In the course of my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that;
- proper accounting records are kept (in accordance with section 130 of the act) and
- accounts are prepared which agree with the accounting records and comply with the accounting requirements of the act; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
C Rouse (ACCA) Balme, Kitchen & Pearce Ltd Chartered Accountants 25 Lemon Street Truro Cornwall TR1 2LS
## **PAGE 5**
## **CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021**
|3
INCOMING RESOURCES
Incoming resources from generated funds: -
Voluntary Income
Activities for generating funds
Bank interest
RESOURCES EXPENDED
Costs of generating funds: -
Voluntary Income
Charitable Activities
Governance Costs
Total resources expensed
Net income/(Deficit)
Adjustment to opening balances
Funds brought forward
Funds carried forward|NOTE
2
3|Unrestricted
Restricted
Funds
Funds|2021
Total|2020|
|---|---|---|---|---|
|||||Total|
|||40,040
40,040
32,779
41,868
41,868
159,670
42
42
397|||
|||£81,950
£81,950 £192,846|||
|||5,294
5,294
9,873
66,995
66,995
134,306
19,330
19,330
21,491|||
|||£91,619
£91,619 £165,670|||
|||(9,670)
(9,670)
27,176
310,453
310,453
283,277|||
|||£300,783
£300,783 £310,453|||
The Statement of Financial Activities includes all gains and resources expended and derive from continuing activities.
The notes on pages 7 to 10 form part of these accounts.
**PAGE 6**
|**CORNWALL FEDERATION OF YOUNG FARMERS’**|**CORNWALL FEDERATION OF YOUNG FARMERS’**|**CLUBS**||||
|---|---|---|---|---|---|
|**BALANCE SHEET AS AT 31 JULY 2021**||||||
||NOTE||2021||2020|
|FIXED ASSETS|7||3,599||4,498|
|CURRENT ASSETS||||||
|Stock||3,000||1,767||
|Debtors|8|
7,592||7,758||
|Cash at Bank||292,461||326,958||
|||303,053||336,483||
|CURRENT LIABILITIES||||||
|CREDITORS:||||||
|Amounts due within one year|9|5,869||30,530||
|NET CURRENT ASSETS|||297,184||305,953|
|TOTAL ASSETS LESS CURRENT LIABILITIES|||**£300,783 **||**£310,453**|
|FUNDS OF THE CHARITY||||||
|UNRESTRICTED FUNDS:||||||
|Accumulated Fund|||**£300,783 **||**£310,453**|
|These accounts were approved by the Trustees on||||||
Trustee
The Notes on pages 7 to 10 form part of these accounts.
**PAGE 7**
## **CORNWALL FEDERATION OF YOUNG FARMERS` CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021**
## **1. ACCOUNTING POLICIES**
## **a. Basis of Accounting**
The financial statements have been prepared under the historical cost convention and follow the recommendations in the Accounting by Charities – Statement of Recommended Practice. Consolidated Accounts have not been prepared.
## **b. Fund Accounting**
- Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.
- Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
## **c. Incoming Resources**
These are included in the Statement of Financial Activities (SoFA) when:
- The charity becomes entitled to the resources;
- The Trustees are virtually certain they will receive the resources; and
- The monetary value can be measured with sufficient reliability
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.
## **d. Investment Income**
This is included in the accounts when receivable.
## **e. Liability Recognition**
- Liabilities are recognised as soon as there is a legal or constructible obligation committing the charity to pay out resources.
- **f. Governance Costs**
Include costs of the preparation and examination of statutory accounts, the costs of Trustees meetings and cost of any legal advice to Trustees on governance or constitutional matters.
## **g. Assets**
These are capitalised if they can be used for more than one year and cost at least £500. They are valued at cost, or if gifted at the value to the charity on receipt.
## **h. Depreciation**
Depreciation is provided on all tangible fixed assets in use at rates and bases calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows: -
- Equipment 20% per annum on the reducing balance method
## **i. Stock**
Stock is included at the lower of cost or net realisable value
- **j. Operating lease agreements** Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.
**PAGE 8**
## **CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021**
## **2. ANALYSIS OF INCOMING RESOURCES**
|**2. ANALYSIS OF INCOMING RESOURCES**|**2. ANALYSIS OF INCOMING RESOURCES**|**2. ANALYSIS OF INCOMING RESOURCES**|
|---|---|---|
|Unrestricted
Restricted
2021
2020
Voluntary Income
Grants
10,000
10,000
12,000
Donations
21
21
0
Community Wind Turbine
2,500
2,500
2,500
Contribution to overheads
26,967*
26,967
10,911
My Mind Matters
532
532
7,164
Printing sales
20
20
204
£40,040
£0
£40,040
£32,779
Activities for Generation of Funds
Subscriptions
10,801
10,801
37,170
County Activities
26,067
26,067
119,444
Skills for Life
0
0
0
Charity Fund Raising
0
0
3,056
DCBT
5,000
5,000
0
£41,868
£0
£41,868 £159,670
Investment Income
Bank interest
£42
£0
£42
£397
*Contribution to overheads includes payments from HMRC under the Job Retention Scheme
**3 TOTAL RESOURCES EXPENDED**
Basis of
Voluntary Charitable
2021
2020
Costs directly allocated
Allocation
Income
Activities Administration
Total
Total
to activities:
Skills for Life
Direct
0
0
0
Membership Cards
Direct
251
251
398
National Federation Levy
Direct
19,529
19,529
19,987
County Activities
Direct
6,617
6,617
71,532
Community Wind Turbine
Direct
2,000
2,000
2,000
My Mind Matters Campaign
Direct
210
210
160
Members’ insurance
Direct
5,840
5,840
5,876
Support costs allocated to activities:
Staff Costs
Staff time
4,530
22,649
18,119
45,299
42,306
Travel & officers
Direct
2,567
27
2,595
4,979
Administrative expenses
Usage
2,380
420
2,801
3,135
Premises running costs
Usage
441
3,532
411
4,414
7,948
Depreciation
Usage
90
720
90
900
1,124
Meeting expenses
Direct
0
0
542
Accountancy & Bookkeeping
Usage
233
699
233
1,164
1,175
Donations
Direct
0
0
4,500
5,294
66,995
19,330
£91,619 £208,572|||
||Direct
Direct
Direct
Direct
Direct
Direct
Direct
Staff time
Direct
Usage
Usage
Usage
Direct
Usage
Direct|0
0
0
251
251
398
19,529
19,529
19,987
6,617
6,617
71,532
2,000
2,000
2,000
210
210
160
5,840
5,840
5,876
4,530
22,649
18,119
45,299
42,306
2,567
27
2,595
4,979
2,380
420
2,801
3,135
441
3,532
411
4,414
7,948
90
720
90
900
1,124
0
0
542
233
699
233
1,164
1,175
0
0
4,500|
|||5,294
66,995
19,330
£91,619 £208,572|
**PAGE 9**
**CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021**
## **4. TAX**
The Charity is entitled to Income Tax and Capital Gains Tax exemption as a Charity under section 505 ICTA 1988.
## **5. STAFF COSTS & NUMBERS**
|Salaries
Social Security Costs
Pensions|2021
2020|
|---|---|
||40,185
37,854
3,125
1,973
1,998
2,479|
||£45,298
£42,306|
|The average number of employees was as follows: -|The average number of employees was as follows: -|The average number of employees was as follows: -|
|---|---|---|
|Administrative|4|4|
|Skills for Life|0|0|
## **6. TRUSTEE REMUNERATION & RELATED PARTY TRANSACTIONS**
Trustees received honoraria of £2,567 (2019: £2,566) during the year, payable to seven members of the management committee.
## **7. TANGIBLE FIXED ASSETS**
|COST
At 1 August 2020
At 31 July 2021
DEPRECIATION
At 1 August 2020
Charge for the year
At 31 July 2021
Net book value at 31 July 2021
Net book value at 31 July 2020|Equipment
44,029|
|---|---|
||44,029|
||39,531
899|
||40,430|
||£3,599|
||£4,499|
## **8. DEBTORS**
|Trade Debtors
Other Debtors|2021
2020|
|---|---|
||7,592
7,758
0
0|
||£7,592
£7,758|
## **9. CREDITORS**
|Trade Creditors
Other Creditors
Accruals|2021
2020|
|---|---|
||2,707
28,649
1992
711
1,170
1,170|
||£5,869
£30,530|
**PAGE 10**
**CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021**
## **10. OPERATING LEASE**
The Charity pays rent for use of its offices, which is currently £2,500 per year.
## **11. SUBSIDIARY**
The Charity has a subsidiary called The Golden Jubilee Trust, which is managed separately.
The Charity has not prepared consolidated accounts as the gross income of the group in the accounting period is less than the threshold for a statutory charity audit.
**THE FOLLOWING PAGE DOES NOT FORM PART OF THE STATUTORY ACCOUNTS**
**Page 11**
## **CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021**
|**INCOMING RESOURCES**
Grants
Donations
Community Wind Turbine
My Mind Matters
Subscriptions
County Activities
Skills for Life
Interest Receivable
Contribution to overheads
Printing sales
Charity Fundraising
**RESOURCES EXPENDED**
Donations
Salaries and Pension Costs
Professional Services
Cost of Membership Cards
National Federation Levy
Travelling and Subsistence
Insurance
Postage and Telephone
Skills for Life
Stationery, Printing and Publicity
Officers Mileage and honorarium
Bank charges
Meeting Expenses
Accountancy
Repairs and Maintenance
Sundry
Rent and Rates
Heat and Light
Community Wind Turbine Expenses
My Mind Matters
County Activities
Depreciation
Bookkeeping
**NET INCOMING/(LOSS)**
**RESOURCES**|0
45,298
278
251
19,529
27
5,840
1,813
0
309
2,567
60
0
1,164
102
1,336
2,500
0
2,000
210
6,617
890
828|**2021**
10,000
20
2,500
532
10,801
31,067
0
42
26,967
20
0
81,950
91,619
**(£9,670)**|4,500
42,306
476
398
19,987
2,413
5,876
1,872
0
2,992
2,566
54
542
1,178
750
1,878
2,500
312
2,000
160
71,532
1,124
274|**2020**
12,000
0
2,500
7,164
37,170
119,444
0
397
10,911
204
3,056|
|---|---|---|---|---|
|||||192,846
165,670|
||||||
|||||**£27,176**|