Charity number: 302905
Kent County Federation of Young Farmers' Clubs
Trustees' report and financial statements for the year ended 31 August 2021
Kent County Federation of Young Farmers' Clubs
| Page | |
|---|---|
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 12 |
Kent County Federation of Young Farmers' Clubs
Reference and administrative details of the charity, its trustees and advisers for the year ended 31 August 2021
Trustees
T Jones, President H Booth B Cooper S Dean L Dent C Eckley G Edmonds W Edmonds M Essex J Gunner E Husk J Manvell S Manvell C Matthews C Pursey M Simmons H Stow
Charity registered number
302905
Principal office
4 Court Lodge Cottages, Horton Road, Horton Kirby, Dartford, Kent, DA4 9BS
Treasurer
Mrs S Leggat
County organiser
Mrs J McNamara
Independant examiners
Chavereys, 2 Jubilee Way, Faversham, Kent, ME13 8GD
Page 1
Kent County Federation of Young Farmers' Clubs
Trustees' report for the year ended 31 August 2021
The Trustees present their annual report together with the financial statements of the charity for the period 1 September 2020 to 31 August 2021.
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
Objectives and Activities
Objectives
Assisting young farmers' clubs in the county
- to advance the education of their members and their knowledge of agriculture, home crafts and country life. - to develop their self-reliance and individual responsibility. - to train members to play their full part in the life of the movement and of the community.
Public benefit statement
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities.
Achievements and performance
Review of activities
The Federation has had a challenging financial year showing a deficit of £5,044 (2020 surplus: £4,392) which decreases the total funds to £51,993 (2020: £57,037). The income of the Federation comes from grants, events and interest on cash deposits, plus subscriptions from clubs. A donation was received in the year from Whitehead Monckton of £1,000 to be put towards County Show costs. The Kent Community Fund gave a grant of £3,000 towards core costs and the Local Connect Fund gave £1,690 to cover 75% of the County Organiser’s costs to March 2021. These two donations were to help with the difficulties caused by the Covid pandemic. The activities for the year continued to be highly affected by the COVID-19 pandemic. The Trustees continued to follow all government guidance with respect to social distancing to ensure the safety of club members, those that work for the Federation and the trustees themselves
Some activities, including training, continued via Zoom calls. Club activities restarted as Covid restrictions were eased in England. Usual competitions days could not run but as the country opened up Kent Young Farmers took part in the down sized Kent County Show. Some Clubs attended the Edenbridge & Oxted Show.
Page 2
Kent County Federation of Young Farmers' Clubs
Trustees' report (continued) for the year ended 31 August 2021
Financial review
Principal risks and uncertainties
As an organisation run by young people we automatically have a high turnover of Trustees. No sooner has someone gained essential and relevant experience in running the organisation, than they reach the upper age for membership and need to step down. We are mitigating against this by actively trying to identify suitable replacements amongst the younger members and encouraging them to get involved at an early stage at both club and county level.
Reserves policy
The Trustees have reviewed the general reserves held by the charity and consider that they are not excessive. The Trustees believe that general reserves should represent at least 1 year's expected general expenditure which currently amounts to £34,000 (2020: £34,000). At 31 August 2021 free reserves amounted to £22,186 (2020: £27,046).
Structure, governance and management
Constitution
Kent County Federation of Young Farmers Clubs' is a registered charity number 302905 with effect from 10 June 1963 under an original constitution adopted 18 November 1970, a new constitution was adopted on 3 November 2014.
Method of appointment or election of Trustees
The Trustees who served during the year are detailed on the legal and administrative information page.
An Action Group was formed on the advice of NFYFC after a County Chairman from the membership could not be found in November 2019. Action Group members who are over 18 were appointed as trustees, or a club leader if the club representative was under 18. The President is an ex-officio member of the Executive Committee.
Organisational structure and decision making
The Trustees comprise the key management personnel of the charity and are in charge of directing and controlling, running and operating the charity on a day to day basis. All Trustees give up their time freely and no Trustee received any remuneration in the year.
Plans for future periods
As Covid restrictions have eased work is starting on encouraging existing members to become actively involved again and to maintain and widen the existing membership. It is hoped to offer more training opportunities for members and leaders. A programme of training days, winter competitions and spring competitions are all being planned. It is hoped that some social activities can also be held.
Page 3
Kent County Federation of Young Farmers' Clubs
Trustees' report (continued) for the year ended 31 August 2021
Trustees' responsibilities statement
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Trustees, on 15 November 2021 and signed on their behalf by:
B Cooper Trustee
Page 4
Kent County Federation of Young Farmers' Clubs
Statement of financial activities for the year ended 31 August 2021
| Unrestricted funds Note 2021 £ Income from: Donations, grants and subscriptions 2 9,172 Other trading activities 3 1,966 Investment income: Bank interest 5 Total income 11,143 Expenditure on: Charitable activities 4 16,003 Total expenditure 16,003 Net (expenditure)/income before other recognised gains and losses (4,860) Net movement in funds (4,860) Reconciliation of funds: Total funds brought forward 7 43,046 Total funds carried forward 38,186 |
Restricted funds 2021 £ 5,690 - - 5,690 5,874 5,874 (184) (184) 13,991 13,807 |
Total funds 2021 £ 14,862 1,966 5 16,833 21,877 21,877 (5,044) (5,044) 57,037 51,993 |
Total funds 2020 £ 27,900 - 164 |
|---|---|---|---|
| 28,064 | |||
| 23,672 | |||
| 23,672 | |||
| 4,392 4,392 52,645 |
|||
| 57,037 |
The notes on pages 7 to 12 form part of these financial statements.
Page 5
Kent County Federation of Young Farmers' Clubs
Balance sheet as at 31 August 2021
| Note Current assets Stocks Debtors 5 Cash at bank and in hand Creditors:amounts falling due within one year 6 Net current assets Net assets Charity Funds Restricted funds 7 Unrestricted funds 7 Total funds |
£ 1,141 1,188 51,184 53,513 (1,520) |
2021 £ 51,993 51,993 13,807 38,186 51,993 |
£ 402 7,851 50,967 59,220 (2,183) |
2020 £ 57,037 |
|---|---|---|---|---|
| 57,037 | ||||
| 13,991 43,046 |
||||
| 57,037 |
The financial statements were approved by the Trustees on 15 November 2021 and signed on their behalf, by:
B Cooper Trustee
The notes on pages 7 to 12 form part of these financial statements.
Page 6
Kent County Federation of Young Farmers' Clubs
Notes to the financial statements for the year ended 31 August 2021
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
Kent County Federation of Young Farmers' Clubs constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.
1.2 Going concern
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertaintities exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficent with the level of reserves for the charity to continue as a going concern.
1.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Voluntary income such as donations and gifts are included in the Statement of Financial Activities when receivable.
Grants are credited to the Statement of Financial Activities when all conditions relating to the receipt of the grant have been met.
Investment income is included when receivable.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
1.5 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.6 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 7
Kent County Federation of Young Farmers' Clubs
Notes to the financial statements for the year ended 31 August 2021
1. Accounting policies (continued)
1.7 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
1.8 Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragrah 1 Schedule 6 of the Finance Act 2010 and therefore meets the definition of a charitable company for UK corporation tax purposes.
2. Income from donations, grants and subscriptions
| Unrestricted funds 2021 £ Donations 1,117 Grants - Subscriptions 8,055 Total donations and legacies 9,172 Total 2020 22,352 |
Restricted funds 2021 £ - 5,690 - 5,690 5,548 |
Total funds 2021 £ 1,117 5,690 8,055 14,862 27,900 |
Tota funds 2020 £ 3,000 5,548 19,352 |
|---|---|---|---|
| 27,900 | |||
3. Other trading activities (events)
| Kent Show Sale of merchandise Sports and competitions |
2021 £ 1,501 390 75 1,966 |
2020 £ - - - - |
|---|---|---|
Page 8
Kent County Federation of Young Farmers' Clubs
Notes to the financial statements
for the year ended 31 August 2021
4. Expenditure
| Direct costs £ County officer 13,249 Training fees and expenses 269 Kent show expenses 914 Mechandise 325 Sports and competitions - Marketing and publicity - NFYFC levy 4,762 Insurances - Southeast area levy (600) Sundry expenses 645 Bank charges - Bad debts (unpaid levy and show entry fees) 539 Independent examiner's fee (governance cost) - 20,103 The charity had no employees during the period (2020: nil). Expenditure included £5,874 in respect of restricted funds (2020: |
Support costs £ - - - - - - - 1,344 - - 64 - 366 1,774 £5,165). |
2021 £ 13,249 269 914 325 - - 4,762 1,344 (600) 645 64 539 366 21,877 |
2020 £ 13,520 165 - - 155 182 6,214 1,571 200 1,245 60 - 360 |
|---|---|---|---|
| 23,672 | |||
| 5. Debtors Trade debtors Other debtors 6. Creditors: Amounts falling due within one year Trade creditors Accruals and deferred income |
2021 £ 1,177 11 1,188 2021 £ - 1,520 1,520 |
2020 £ 7,840 11 |
|---|---|---|
| 7,851 | ||
| 2020 £ 263 1,920 |
||
| 2,183 |
Page 9
Kent County Federation of Young Farmers' Clubs
Notes to the financial statements for the year ended 31 August 2021
7. Statement of funds
Statement of funds - current year
| Balance at 1 September 2020 £ Designated funds Emergency fund 16,000 General funds General Funds 27,046 Total Unrestricted funds 43,046 Restricted funds Training fund 10,099 Travel fund 580 Nineveh Charitable Trust - paddock project 2,600 Kent Community Foundation- core funding - KCAS - for PA system 712 Local Connect Fund - field officer costs - Whitehead Monckton - Kent Show costs - 13,991 Total of funds 57,037 |
Income Expenditure £ £ - - 11,143 (16,003) 11,143 (16,003) - (269) - - - - 3,000 (3,000) - - 1,690 (1,690) 1,000 (915) 5,690 (5,874) 16,833 (21,877) |
Balance at 31 August 2021 £ 16,000 22,186 38,186 9,830 580 2,600 - 712 - 85 13,807 51,993 |
|---|---|---|
Page 10
Kent County Federation of Young Farmers' Clubs
Notes to the financial statements for the year ended 31 August 2021
7. Statement of funds (continued)
Statement of funds - prior year
| Designated funds Tonbridge YFC Emergency fund Subtotal General funds General funds Total Unrestricted funds Restricted funds Training fund Travel fund Nineveh Charitable Trust - paddock project Kent Community Foundation- for coordinator's salary Kent Community Foundation - for strengthening core work KCAS - for PA system Total of funds |
Balance at 1 September 2019 £ 1,245 16,000 17,245 21,792 39,037 10,428 580 2,600 - - - 13,608 52,645 |
Income £ - - - 22,516 22,516 - - - 836 4,000 712 5,548 28,064 |
Expenditure £ - - - (18,507) (18,507) (329) - - (836) (4,000) - (5,165) (23,672) |
Transfers in/out £ (1,245) - (1,245) 1,245 - - - - - - - - - |
Balance at 31 August 2020 £ - 16,000 16,000 27,046 43,046 10,099 580 2,600 - - 712 13,991 57,037 |
|---|---|---|---|---|---|
Emergency fund - funds set aside for emergency purposes.
Training fund - to be used to fund the costs of county training events.
Travel fund - to be used to assist young farmers in attending national events and competitions.
The Nineveh Charitable Trust grant - to be applied towards the paddock project.
Kent Community Foundation grants - to be applied towards coordinators salary and strengthening core work.
KCAS - grant to cover the purchase of PA equipment.
Local Connect Fund - part funding of the county organiser.
Whitehead Monckton - to be applied toward Kent showing costs
Page 11
Kent County Federation of Young Farmers' Clubs
Notes to the financial statements for the year ended 31 August 2021
8. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Analysis of net assets between funds - current year | |||
|---|---|---|---|
| Unrestricted funds 2021 £ Current assets 39,705 Creditors due within one year (1,519) 38,186 Analysis of net assets between funds - prior year Unrestricted funds 2020 £ Current assets 45,229 Creditors due within one year (2,183) 43,046 |
Restricted funds 2021 £ 13,807 - 13,807 Restricted funds 2020 £ 13,991 - 13,991 |
Total funds 2021 £ 53,512 (1,519) 51,993 Total funds 2020 £ 59,220 (2,183) 57,037 |
|
Page 12