**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