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2022-07-31-accounts

COUNTY CHAIRMAN’S REPORT 2021 – 22

When I joined Helston & St Keverne YFC in 2009, I knew nothing of the YFC journey ahead for me.

After a number of years holding office positions within my club , I was delighted to be elected onto the Cornwall YFC county team as General Purposes Vice Chairman in 2016. I spent the next 5 years learning the roles and on 20[th] September 2021 I took over the reins as County Chairman with a cracking team around me and a list of goals for the year ahead.

Our first event as the new County Team was on Friday 24th September, over 200 people descended upon the Central Methodist Chapel in Helston for the Annual Harvest Festival. A big thank you to Helston & St Keverne YFC as host club for helping to decorate the church and making refreshments for after the service. This was a very special way for us all to welcome the new Young Farmers Year and it was very special to hold this service in my hometown.

Without delay, the Winter Competitions were started with the Indoor Sports rounds culminating in the final at Newquay Sports Centre. Congratulations to St Columb YFC who were crowned Champions for 2021.

The newly re-vamped ‘Speaking Day’ was held at the Pavilion Centre here at the showground and I was delighted to see so many teams taking part. A particular mention must go to the composite after dinner speaking team made up on the day so that the competition could go ahead after a last-minute team withdrawal. The team from Helston & St Keverne YFC took First place in the After Dinner Speaking. The Junior Reading was won by Roche YFC. The Junior Public Speaking was won by St Mabyn YFC & the Brainstrust was won by a composite team from Helston & St Keverne& St Mabyn. The Situations Vacant was won by Isabella Fieldhouse-Rhodes of Lostwithiel YFC.

It was very special to be back in Truro Cathedral for the Annual ‘Cornwall YFC Carol Service’ after a 2 year hiatus. The host clubs for this year were Praze&Madron YFC’s. The chosen readings & poems were read beautifully by members from both clubs and the live nativity complimented the great teamwork. For many this service holds a special place in our hearts and really heralds the ‘official’ start to Christmas. Unfortunately, due to an increase in the number of Covid-19 cases, NFYFC asked counties to cancel their Christmas Disco’s to avoid any further increase, so with a heavy heart the officer team cancelled the Tinsel Ball & Carol Service Disco’s.

2022 brought Cornwall YFC into a very special 85[th] anniversary year.

This year the performing arts competition was Pantomime. Personally my favourite of the three ! Liskeard YFC with their performance of Aladdin took the top spot and went on to South West Area to represent Cornwall. The Choir competition saw Helston & St Keverne YFC take the top spot and the Junior & Senior Member of the Year competitions were also held in St Ives. Sophie Olds of Madron YFC & Betty Buchanan of Heston & St Keverne YFC won the Senior & Junior competitions respectively.

Before we knew it, we found ourselves back in Weston Super Mare for the South West Area weekend! As expected, a weekend of socialising, competitions and fun was had

by all with Cornwall taking home 2nd place overall – a brilliant achievement and the credit of all the members who took part throughout the course of the weekend. Special Congratulations must go to the After Dinner Speaking Team from Helston & St Keverne YFC for winning their competition and to Lowri Laugher for being awarded Best Speaker.

85[th] Anniversary Ball. Our guest speaker for the evening was Martin Whell, Lostwithiel YFC who was County Chairman in 1998. Over 300 were able to join together to celebrate this wonderful milestone & thank you to everyone who made the evening so special.

Sophie Olds, GP Chairman took the lead for this years Competitions Day & Stock Judging Day. Competitions Day was very kindly hosted by the Knowles Family at Trink Farm. The day was packed full of competitions for all members to take part in and the night culminated in usual fashion with a Barn do which was well attended. With everything still to play for roughly 20 members from various clubs descended upon Truro Livestock Market for the Stock Judging Day. Thank you to Lodge & Thomas who very kindly allowed us to use the market for the day. After combining the scores from both days, St Columb YFC were victorious and collected the trophy at the next GP committee meeting. Congratulations to Sophie on leading two fab events & thank you to the Olds Family &Madron YFC for all their help to Sophie in setting up and stewarding.

Friday 13[th] May, was a very special & memorable day for 100 very lucky members of Cornwall YFC. To celebrate our 85[th] Anniversary, Lady Mary St Levan invited Club Chairman, Secretaries, Treasurers & the County Officers, Staff & Vice Presidents along for an evening reception on the terrace of St Michael’s Mount. What a truly fabulous evening this was and I think I can say on behalf of everyone what a special event this was. It was lovely to meet with members of the St Aubyn family and to celebrate 85 years of Cornwall YFC. Thank you Mary for an extraordinary evening.

The arrival of June can only mean one thing for Young Farmers in Cornwall ….. It was time to brush of those cubicles and following the theme celebrating the Queen’s Jubilee & the Duke of Cornwall’s Anniversary, our Journey around the Commonwealth provided a fabulous spectacle in our Marquee. Top honours in the Cubicle competition was taken by Launceston YFC. It will remain a very prominent highlight of my year as Chairman to show HRH Prince Charles (as he was then!) around our marquee and it was lovely to be able to introduce the County Officer & Staff Team along with many club members and officers from around the county. As usual the marquee was packed full with the displays of talents from our members and it was great to see so many members & clubs taking away prize cards.

As the Tinsel Ball had been cancelled at Christmas, the Finance Committee were looking for alternative events to try and fill the financial void created by not holding the event. We decided the hold at event in the Cattle Sheds at the Royal Cornwall Showground and party the night away with a Glitter Ball. Thank you to Oatey Media who kindly sponsored the welcome drinks. The following day …. Was the SWA Competitions Day held this year at Hartpury College, Gloucestershire. Thank you to each & every member who went to represent Cornwall YFC. We had a full complement

venture up the M5 and it was great to see our members doing so well. Congratulations to the Ladies TOW team from St Columb, Camelford & Probus YFC’s who came 2[nd] and therefore qualified to pull in the National TOW finals at Tenbury Show. Also Congratulations to Cari Thomas who won the Senior Stockman of the Year Competition and also qualified to take part in the National Final.

In early July, Cornwall YFC travelled to Staffordshire for the NFYFC Competitions Day. Cornwall qualified to compete in various competitions and how fantastic it was to have so many members taking part. Ellie Rundle, Maria Warne, Isabella Fieldhouse-Rhodes & Christina Merritt took part in the Brainstrust, Nick Uglow in the Clay Pigeon Shooting. The Show Choir from Helston & St Keverne YFC came 5[th] and Ollie Pearce, Chelsea Gilbert, Lowri Laugher, Frances Hosken & Myself took part in the After Dinner Speaking competition and we were delighted to come home with 3[rd] place. The team from Helston & St Keverne YFC also took part in the Men’s Dodgeball on the following day sealing off a great weekend.

It was a pleasure to host Rally at our new home, Fleur-de-Lys Farm on 23[rd] July. The competitions throughout the static & practical sections were as fierce as ever seeing St Columb YFC taking the title of Rally Champions 2022. My sincere thanks to Helston & St Keverne, Praze& Falmouth clubs for agreeing to be host clubs. Your support was much appreciated, and I hope that they members enjoyed being involved. The real stars of this year’s Rally were the Chairmen Tom Pearce & Chelsea Gilbert ably assisted by Ollie Pearce & Bex Jenkin. I honestly can’t thank you all enough for everything you all did and the hard work and determination in making this Rally as good as it possibly could be!

To top of the 85[th] Anniversary celebrations, we held a tea party at the Pavilion Centre here at the showground. It was a pleasure to ask our eldest surviving County Chairman, Mr Peter Thomas, to cut the cake made by Naomi Gribble of Launceston YFC. We received super feedback from members past and present on this event and our thanks to Trink Dairy, Trewithen Dairy & Boddingtons Berries for their very kind support of this event.

Although previously famous as the Home of Paddington Bear and his relatives, Peru was the destination for Maddie Knowles of Praze YFC and a group of fellow YFC members who had won places on a travel scholarship with NFYFC. Well Done Maddie for flying the flag for Cornwall and SWA on this trip. It would be lovely to see more members from Cornwall taking part in the travel programme and I would urge any members to keep an eye on the NFYFC website for the new travel programme for this year.

It has been a true honour to serve as the County Chairman for the last 12 months and to lead the federation to continuing success. Thank you all for the opportunity and the privilege. I will cherish these memories forever.

Rachael Benney

County Chairman 2021-2022

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 2022

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 2022 PAVILION CENTRE SHOWGROUND WADEBRIDGE CORNWALL PL27 7JE

REGISTERED CHARITY NUMBER 300649

The Trustees present their report and accounts for the year ended 31 July 2022

Trustees

The following Trustees have served during the year:

R Benney S Tamblyn C Gilbert
T Retallick A Vincent A Roskilly
J Edyvean A Osborne R Benney
S Olds D Richards T Retallick
R Howard J Wagstaff J Edyvean
B Burchell D Dawe S Olds
B Blanchard P Broad R Howard
M Pearce J Northcott
K Jack C Edyvean
K Pearce C Syms
J Hosking T Eddy
B Bosley E Reynolds
L Reynolds W Hosking
J Prout J Old
J George S Clemens
H Street T Tremaine
P Yu Liu A Kellow
O Gilbert C Runnalls
E Hosken G Symons
H Congdon E Orchard
P Reis T Fowler
D Jones B Bucknell
A Johns K Varker
N Jeffery F Rickard
E Brookham M Evans
J Wilton M Doughty
M Bursey J Harris
L Pearce S Pedlar
B Whell L Colwill
I Fieldhouse H Ashman
D Tuckett S White
W Hosking J Gilbert
M Olds C Worden
D Wall T Pearce

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: -

The activities are similar to previous years of arranging County Activities and Training for Young Farmers.

Review of the year

During the year with sound financial management and the support of staff, the charity has managed to attract grants as well as organising several fund raising events and made a surplus for the year of £14,428. The trustees consider the performance of the Federation for this year due to the economic climate has been satisfactory.

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

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 2022, 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:

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;

  2. proper accounting records are kept (in accordance with section 130 of the act) and

  3. accounts are prepared which agree with the accounting records and comply with the accounting requirements of the act; or

  4. 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 2022

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		 2022
Total		 2021
Total
24,604
24,604
40,040
199,834
199,834
41,868
76
76 42
£224,514
£224,514
£81,950
6,351
6,351
5,294
180,213
180,213
66,995
23,521
23,521
19,330
£210,087
£210,087
£91,619
14,427
14,427
(9,670)

300,783
310,453
310,453
£315,210
£300,783 £300,783

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’ CLUBS BALANCE SHEET AS AT 31 JULY 2022

NOTE 2022 2021
FIXED ASSETS 7 2,879 3,599
CURRENT ASSETS
Stock 3,000 3,000
Debtors 8 52,908 7,592
Cash at Bank 269,218 292,461
325,126 303,053
CURRENT LIABILITIES
CREDITORS:
Amounts due within one year 9 12,793 5,869
NET CURRENT ASSETS 312,333 297,184
TOTAL ASSETS LESS CURRENT LIABILITIES £315,211 £300,783
FUNDS OF THE CHARITY
UNRESTRICTED FUNDS:
Accumulated Fund £315,211 £300,783
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 2022

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

c. Incoming Resources

These are included in the Statement of Financial Activities (SoFA) when:

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

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: -

i. Stock

Stock is included at the lower of cost or net realisable value

PAGE 8

CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

2. ANALYSIS OF INCOMING RESOURCES

2. ANALYSIS OF INCOMING RESOURCES 2. ANALYSIS OF INCOMING RESOURCES 2. ANALYSIS OF INCOMING RESOURCES
Unrestricted
Restricted
2022
2021
Voluntary Income
Grants
20,000
20,000
10,000
Donations
1,300
1,300
21
Community Wind Turbine
2,500
2,500
2,500
Contribution to overheads
582
582
26,967
My Mind Matters
0
0 532
Printing sales
222
222
20
£24,604
£0
£24,604
£40,040
Activities for Generation of Funds
Subscriptions
47,059
47,059
10,801
County Activities
152,775
152,775
26,067
Charity Fund Raising
0
0
0
DCBT
0
0
5,000
£199,834
£0
£199,834
£41,868
Investment Income
Bank interest
£76
£0
£76
£42
Contribution to overheads includes payments from HMRC under the Job Retention Scheme
3 TOTAL RESOURCES EXPENDED*
Basis of
Voluntary Charitable
2022
2021
Costs directly allocated
Allocation
Income
Activities Administration
Total
Total
to activities:
Membership Cards
Direct
531
531
251
National Federation Levy
Direct
4,950
4,950
19,529
County Activities
Direct
128,745
129,030
6,617
Community Wind Turbine
Direct
2,000
2,000
2,000
My Mind Matters Campaign
Direct
0
0
210
Members’ insurance
Direct
3,477
3,477
5,840
DCBT
Direct
285
Support costs allocated to activities:
Staff Costs
Staff time
5,333
26,665
21,332
53,331
42,306
Travel & officers
Direct
3,540
3,540
2,595
Administrative expenses
Usage
3,076
542
3,618
2,801
Premises running costs
Usage
706
5,648
706
7,060
4,414
Depreciation
Usage
72
576
72
720
900
Meeting expenses
Direct
629
629
0
Accountancy & Bookkeeping
Usage
240
720
240
1,200
1,164
Donations
Direct
0
0
0
0
0
6,351 180,213
23,521£210,087
£91,619
Direct
Direct
Direct
Direct
Direct
Direct
Direct
Staff time
Direct
Usage
Usage
Usage
Direct
Usage
Direct		 531
531
251
4,950
4,950
19,529
128,745
129,030
6,617
2,000
2,000
2,000
0
0
210
3,477
3,477
5,840
285
5,333
26,665
21,332
53,331
42,306
3,540
3,540
2,595
3,076
542
3,618
2,801
706
5,648
706
7,060
4,414
72
576
72
720
900
629
629
0
240
720
240
1,200
1,164
0
0
0
0
0
6,351 180,213
23,521£210,087
£91,619

PAGE 9

CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

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		 2022
2021
42,586
40,185
9,236
3,125
1,107
1,999
£53,331
£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 £2,725 (2021: £2,567) during the year, payable to seven members of the management committee.

7. TANGIBLE FIXED ASSETS

COST
At 1 August 2021
At 31 July 2022
DEPRECIATION
At 1 August 2021
Charge for the year
At 31 July 2022
Net book value at 31 July 2022
Net book value at 31 July 2021		 Equipment
44,029
44,029
40,430
720
41,150
£2,879
£3,599

8. DEBTORS

Trade Debtors
Other Debtors
9. CREDITORS
Trade Creditors
Other Creditors
Accruals		 2022
2021
52,907
7,592
0
0
£52,907
£7,592
2022
2021
5,549
2,707
4,875
1,992
2,370
1,170
£12,793
£5,869

PAGE 10

CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

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 2022

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
53,331
410
531
4,950
815
3,477
1,917
0
4,002
2,725
0
629
1,200
0
1,235
2,500
312
2,000
0
129,030
720
382		 2022
20,000
1,300
2,500
0
47,059
152,775
0
75
582
222
0
224,514
210,086
£14,428		 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)

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 2022

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 2022 PAVILION CENTRE SHOWGROUND WADEBRIDGE CORNWALL PL27 7JE

REGISTERED CHARITY NUMBER 300649

The Trustees present their report and accounts for the year ended 31 July 2022

Trustees

The following Trustees have served during the year:

R Benney S Tamblyn C Gilbert
T Retallick A Vincent A Roskilly
J Edyvean A Osborne R Benney
S Olds D Richards T Retallick
R Howard J Wagstaff J Edyvean
B Burchell D Dawe S Olds
B Blanchard P Broad R Howard
M Pearce J Northcott
K Jack C Edyvean
K Pearce C Syms
J Hosking T Eddy
B Bosley E Reynolds
L Reynolds W Hosking
J Prout J Old
J George S Clemens
H Street T Tremaine
P Yu Liu A Kellow
O Gilbert C Runnalls
E Hosken G Symons
H Congdon E Orchard
P Reis T Fowler
D Jones B Bucknell
A Johns K Varker
N Jeffery F Rickard
E Brookham M Evans
J Wilton M Doughty
M Bursey J Harris
L Pearce S Pedlar
B Whell L Colwill
I Fieldhouse H Ashman
D Tuckett S White
W Hosking J Gilbert
M Olds C Worden
D Wall T Pearce

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: -

The activities are similar to previous years of arranging County Activities and Training for Young Farmers.

Review of the year

During the year with sound financial management and the support of staff, the charity has managed to attract grants as well as organising several fund raising events and made a surplus for the year of £14,428. The trustees consider the performance of the Federation for this year due to the economic climate has been satisfactory.

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

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 2022, 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:

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;

  2. proper accounting records are kept (in accordance with section 130 of the act) and

  3. accounts are prepared which agree with the accounting records and comply with the accounting requirements of the act; or

  4. 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 2022

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		 2022
Total		 2021
Total
24,604
24,604
40,040
199,834
199,834
41,868
76
76 42
£224,514
£224,514
£81,950
6,351
6,351
5,294
180,213
180,213
66,995
23,521
23,521
19,330
£210,087
£210,087
£91,619
14,427
14,427
(9,670)

300,783
310,453
310,453
£315,210
£300,783 £300,783

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’ CLUBS BALANCE SHEET AS AT 31 JULY 2022

NOTE 2022 2021
FIXED ASSETS 7 2,879 3,599
CURRENT ASSETS
Stock 3,000 3,000
Debtors 8 52,908 7,592
Cash at Bank 269,218 292,461
325,126 303,053
CURRENT LIABILITIES
CREDITORS:
Amounts due within one year 9 12,793 5,869
NET CURRENT ASSETS 312,333 297,184
TOTAL ASSETS LESS CURRENT LIABILITIES £315,211 £300,783
FUNDS OF THE CHARITY
UNRESTRICTED FUNDS:
Accumulated Fund £315,211 £300,783
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 2022

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

c. Incoming Resources

These are included in the Statement of Financial Activities (SoFA) when:

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

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: -

i. Stock

Stock is included at the lower of cost or net realisable value

PAGE 8

CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

2. ANALYSIS OF INCOMING RESOURCES

2. ANALYSIS OF INCOMING RESOURCES 2. ANALYSIS OF INCOMING RESOURCES 2. ANALYSIS OF INCOMING RESOURCES
Unrestricted
Restricted
2022
2021
Voluntary Income
Grants
20,000
20,000
10,000
Donations
1,300
1,300
21
Community Wind Turbine
2,500
2,500
2,500
Contribution to overheads
582
582
26,967
My Mind Matters
0
0 532
Printing sales
222
222
20
£24,604
£0
£24,604
£40,040
Activities for Generation of Funds
Subscriptions
47,059
47,059
10,801
County Activities
152,775
152,775
26,067
Charity Fund Raising
0
0
0
DCBT
0
0
5,000
£199,834
£0
£199,834
£41,868
Investment Income
Bank interest
£76
£0
£76
£42
Contribution to overheads includes payments from HMRC under the Job Retention Scheme
3 TOTAL RESOURCES EXPENDED*
Basis of
Voluntary Charitable
2022
2021
Costs directly allocated
Allocation
Income
Activities Administration
Total
Total
to activities:
Membership Cards
Direct
531
531
251
National Federation Levy
Direct
4,950
4,950
19,529
County Activities
Direct
128,745
129,030
6,617
Community Wind Turbine
Direct
2,000
2,000
2,000
My Mind Matters Campaign
Direct
0
0
210
Members’ insurance
Direct
3,477
3,477
5,840
DCBT
Direct
285
Support costs allocated to activities:
Staff Costs
Staff time
5,333
26,665
21,332
53,331
42,306
Travel & officers
Direct
3,540
3,540
2,595
Administrative expenses
Usage
3,076
542
3,618
2,801
Premises running costs
Usage
706
5,648
706
7,060
4,414
Depreciation
Usage
72
576
72
720
900
Meeting expenses
Direct
629
629
0
Accountancy & Bookkeeping
Usage
240
720
240
1,200
1,164
Donations
Direct
0
0
0
0
0
6,351 180,213
23,521£210,087
£91,619
Direct
Direct
Direct
Direct
Direct
Direct
Direct
Staff time
Direct
Usage
Usage
Usage
Direct
Usage
Direct		 531
531
251
4,950
4,950
19,529
128,745
129,030
6,617
2,000
2,000
2,000
0
0
210
3,477
3,477
5,840
285
5,333
26,665
21,332
53,331
42,306
3,540
3,540
2,595
3,076
542
3,618
2,801
706
5,648
706
7,060
4,414
72
576
72
720
900
629
629
0
240
720
240
1,200
1,164
0
0
0
0
0
6,351 180,213
23,521£210,087
£91,619

PAGE 9

CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

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		 2022
2021
42,586
40,185
9,236
3,125
1,107
1,999
£53,331
£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 £2,725 (2021: £2,567) during the year, payable to seven members of the management committee.

7. TANGIBLE FIXED ASSETS

COST
At 1 August 2021
At 31 July 2022
DEPRECIATION
At 1 August 2021
Charge for the year
At 31 July 2022
Net book value at 31 July 2022
Net book value at 31 July 2021		 Equipment
44,029
44,029
40,430
720
41,150
£2,879
£3,599

8. DEBTORS

Trade Debtors
Other Debtors
9. CREDITORS
Trade Creditors
Other Creditors
Accruals		 2022
2021
52,907
7,592
0
0
£52,907
£7,592
2022
2021
5,549
2,707
4,875
1,992
2,370
1,170
£12,793
£5,869

PAGE 10

CORNWALL FEDERATION OF YOUNG FARMERS’ CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

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 2022

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
53,331
410
531
4,950
815
3,477
1,917
0
4,002
2,725
0
629
1,200
0
1,235
2,500
312
2,000
0
129,030
720
382		 2022
20,000
1,300
2,500
0
47,059
152,775
0
75
582
222
0
224,514
210,086
£14,428		 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)