Charity numbor.. 304029
NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
CONTENTS
Page
Reference and administrative details of the Charity, its Trustees and advisers
Tru$t99s' report
Ind¢pendent oxaminerfs report
Statement of financlal a¢tivities
Balance $hgOt
Notes to the financial statements
9-22

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHAREfY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2022
Truste¢s
T Pawrth. Presdent
F Roberson. Chair lapwinted 11 November 2021}
F Brwm (appointed 11 November 2021}
T Webster lapwinted 11 November 2021)
W De Feyter Ireggned 11 Novemt*r 20211
E Baker Iresgned 11 November 20211
K Pioctor I[￿gned 11 November 20211
Charity regist•rgd
number
304029
Principal offico
YFC Offi
Norfotk Showground
Dereham Road
Normch
Norfolk
NR5 orr
Accountants
Larking Go￿n LLP
Chartered Accountants
Faiers House
Gilray Road
Diss
Norfolk
IW22 4WR
Bankars
Barclays Bank Pk
NatNbE5t PIC
Page 1

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
The Trustees present their annual report together vAth the financial statements of the Norfolk Federation of
Young Farmers Clubs for the 1 September 2021 to 31 August 2022. The trustees wnfirni that the Annual
Report and financial statements of the charity comply with the current *atutory requimenls, the requirements
of the charity's goveming document and the provisions of the Statement of Recommended Practice ISORPI,
applicable to charities preparing their ac£ounts in accordance with the Fin8ncial Reporting Standard applicable
in the UK and Republic of Ireland IFRS1021 leffeclNe 1 January 2019).
Objgctives and activities
Polici¢$ and obje¢tives
The object of the charity is to advance the education of young meM￿rS of the public at large in agriculture,
home crafts. country life and related subJ"ects', and in the interests of the social We￿a￿ of such members lo
provide and promote the provision of faGilities whiGh will improve their conditions of life and will assist in the
development of their spiritual and mental capacities, self-re1lan￿ aThJ individual resp(￿￿bility so that they may
grow lo full maturity as individuals and members of the community.
In setting objectives and planning for activities. the Trustees have given Oue consideration to general guidan
published by the Charity Commission relating lo public benefit, including the gUidan￿'pub1iC benefit.. running a
charity {PB21'.
b. Main activities undertaken to furth8r the Charity's purposes for the public benefrt
The Federation has maintained a competitions and activity calendar that offers opwrtuni14es to 811 young
people and provided a gjpport netsw)d( befv￿en members and ¢lubs
The Federation has supported 26 Young Famier Clubs across Norfolk to meet the obj'ecls of the charity. This
has provided a service to over 400 young people. through 0)m￿tItiOns, training, recreational pursuits and
regular meetings.
Achlevements and perforrnance
a. Review of activities
The organisation has been signifJ(3ntly impacted by the wder COMD pandemic and its associated restrictions
on meetings of groups. The organisalion made further staffing adjustments during the yeai reflecting Lx)th
reduced income during the year from all SoUr￿S and activity in the dubs and county. Plans have been put in
place for the relaunch of the Federab"on's ath"vities induding a revised slaff structure as soon as permitted by
Govemment guidance.
The county conb.nues to SUp￿rt the 10 clubs that y￿ have and all clubs have been working hard this past year.
The membership for this year was at 401 is 263 higher than last year.
The skills initiative fund has started being used a little more this past few months and we have re-slruclured the
forms to show that all members can use the fund for any training not just for agricultural. The criteria still stsnds
that you have to have been a member for at least a year and the training is lo be used for a members CPD.
Page 2

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2022
Achievements and performance (continued)
We have had a steaty start to the year wth meetings. The Executive team have been working very hard to
raise funds to help keep the organisation going. We hope this will continue wth the new Committee and with
new plans going forward. We need to encourage members to attend more events and to work 109elher to
promote and bring together members to increase the organi5ation in these b"me5.
Financial rovi
a. Going concem
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate
sources to continue in operational existence for the foreseeable future. For this reason, they continue to
adopt the going concem basis in preparing the financial stalemenl& Further details regarding the adoption of
the going contsm ba￿S can be found in the accounting policies.
b. ReseNes poll¢y
The charity is abware of its responsbilities and has set a reseNe pdicy of £70.000. made up as follows..
Redundancy- £8,000
Contingencies- £40.000 (average 4 months tumover)
Premises Fund - £22,000 Icurrenlly we a￿ provided wlh free ae¢ommodation within the RNAA offices and
although we hope this wll be a long standing arrangement provision needs to be maintained)
Skills Initiative.. The fund was launched in jur￿ 2015 wlh £70.0Th). The total available for training for the
members now stands al £59,66812021 - £62,143) after payments and commitrnent5 to training are accounted
for.
Currently the charities free reserves sland at £269,19612021'. £138.603}.
c. Principal funding
Norfolk YFC is indebted to the follcwng for their continued finanaal supy¥t=
Chadacre Trust
Clan Trust
RNAA
We are also grateful for the legaGy from the eslate of Ms L￿a Levine (dec'dl received in the year.
Structure. governance and management
a. Constitution
Norfolk Federation of Young Famers Clubs is a registered charity, number 304029, and is cx)nstituled under 8
Trust da￿ which vras adopted on 27 November 1987.
Page 3

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2022
Structure* governance and management (¢ontinuedl
b. Methods of appointment or election of Trust¢es
The managernenl of the Charity is the rewn&bility of the Trustees vtho are elected and c¥wted under the
terms of the Trust deed.
c. Organlsatlonal structure and decislon-maklng pollcl¢s
The Federation is run by the members for the members through the followng committees..
Competitions and training ICAT)
Sooal and markelirsg (SAMI
Executive
Steering
d. Policies adopted
The following F)olicies have been 8dopted'.
Health and safety
saf￿Uardin9 children and young twsle
Equal opportunities
Drugs and alcohol
e. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particulaT those related to the
operalions and finan￿$ of the Charity, and are satisfied that systems and prcredures are in place to mitigate
exposu￿ lo the majoT risks.
Page 4

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
TRUSTEES, REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2022
Statement of Tru5tees' responsibilities
The Tnjstees are respOn￿ble for preparing the Trustees. report and the financial slalemenls in accordance with
applicable law and United lQngdom A¢(￿unting Standards (United lQ"ngdom Generally Accepted AC￿U￿tIng
Practscel.
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 stale of affairs of the Charity and of its incoming
resourees and application of resour￿. induding its inC£￿e arKI expenditure. for that period. In preparing these
linancial stalemenls, the Trustees are reqUi￿d lo_"
select suitable accounting policies antj then appty them eon&stently,
observe the methcKls and principles of the Charrties SORP IFRS 1021..
make judgments and accounting estirnales that are reas)nable and PTudenL
state whether applicable UK Actx)unling Standards {FRS 102} have been followed. subject to any
material departU￿S disclosed and explained in the financial slalements..
prepare the financial ststements on the g￿n9 concem basis unless tt is inappropriate to presume that the
Charity will continue in business_
The Trustees are respDn&ble for keeping adequ*e ￿Unting records that are sufficient to show and explain
the Charity's transactions and disdose wlh reasonable accuracy al any time the financial po&tion of the Charity
and enable them to ensure that the financial statements comply wth the Charities Act 2011, the Charity
(Accounts and Reports} Regulations 2008 and the provisrons of the Trust deed. They a￿ also responsible for
sgfeguarding the assets of the Charity and hence for takiro reasonabSe steps fcx the prevention and detection
of fraud and Oth￿ irTegularilies.
Approved by
er
e members of the board of Trustees and sFg
on their behalf by..
T Papwo
Presdent
F Roberson
Chair
Dale".
3111
Page 5

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
Independent examinerfs report to the T￿￿10¢$ of Norfolk Federation of Young Famigrs Clubs
I'the Charity.)
I report to Ihe charity Trustees on my examination of the accounts of the Charity for the year ended 31 August
2022.
Respon8lbllitie8 and basis of rèport
As the Tiuslees of the Charity you are restM)nsible for the preparation of the accounts in accordance wlh the
requirements of the Charities Act 2011 I'lhe 2011 Act).
I report in respect of my examination of the Charity's ￿Unts carried out under section 145 of the 2011 Act
and in carrying out my examination I have follov*BJ the applicable Directions given by the Charity Commission
under section 14515}Ibl of the 2011 Act.
Independent examinerfs statement
I have completed my examinalion. I confimi thal no matter5 have come lo my attention in ¢onne¢tion with the
examination giving me cause lo believe that in any matellal resF*Ct"
accounting records were nol kept in reSp￿t of the Charity as required by section 130 of the 2011 Act,. or
thè a¢¢ounts do not accord wth those reoxds.. or
the a¢¢ounls do not comply wth the applicable requirements wnceming the fom and content of
accounts sel out in the Charities (Accounts and Reports) Regulation5 2008 other than any requirement
that the accounts give a 'true and fairf view which is not a matter considered as part of an independent
examination.
I have no Con￿m$ and have come au0&* no other matters in eonneclion wth the examination lo which
allenlion should be drawn in this report in order to enable a prO￿r understanding of the accounts to be
reached.
This report is made solely to the Charity's Trustees, as a body. in accordan￿ wlh Part 4 of the Charities
IAw)unls and Reports} Regulations 2008. My work has teen undertaken so that I might slate to the Charity's
Trustees those matters l am reqLJired lo state to them in an Independent examinerfs report and for no other
purpose. To the fullest extent permitted by law. I do not accept or assurne reswnsibility to anyone other than
the Charity and the Chaftty's Trustees as a body, for my woJk or for this report.
Signed..
G Kerkham FCA DChA
Dated.. 8 Novernber 2022
Larklng Gowèn LLP
Chartered Accountants
Faiers House
Gilray Road
Diss
Norfolk
IP22 4WR
Page 6

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2022
RestrICt￿ Unrestricted
funds
lunds
2022
2022
Total
funds
2022
Total
funds
2021
Note
Income from:
Donations and grants
Charitable ac*ivilies
Fundraising inLX)me
Investments
147,977
13.064
22,241
2.528
147,977
13,064
22.241
2,572
39,672
1, 778
7,488
2,241
Total Income
185.810
185,854
51,17g
Expendtture on:
Raisng funds
Charitsble activities
3.129
48,227
3.129
48,227
45
51,021
Total expenditure
51,356
51.356
51.066
Net income ￿fOre net {lossesllgains
on investmgnts
Net Ilossesllgains on investmenls
134.454
14.031)
134,498
14.0311
113
9,580
Ngt movemont in funds
130,423
130,487
9, 693
Reconciliation of funds-
Total funds brought forward
Nel movement in funds
13.856
221,955
130,423
235.811
130,467
226,118
9,693
Total funds carried forward
13,900
352,378
366,278
235,811
The Stslemenl of finanual activities includes all gains and losses recognised in the year.
The notes on pages 9 to 22 form part of these financial statements.
Page 7

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
BALANCE SHEET
AS AT 31 AUGUST 2022
2022
2021
Note
Fixed assets
Tangible assets
Investrnents
4,935
78,247
1,074
82,278
12
83.182
83.352
Current assgts
Stocks
Debtors
Cash at bank and in hand
13
14
48,552
227.699
3,340
160,036
283,096
167,459
CTeditors.' amounts falling due Ythhin one
year
15
(15.000)
Net current assets
283.096
152,459
Totsl assets less currènt liabilities
366.278
235.811
Net assets excluding pension asset
366.278
235,811
Total net assets
366,278
235,811
Charity funds
Restricted funds
Unrestricted funds
17
13.900
352,378
13,856
221,955
17
Total funds
366,278
235,811
The financial slalemenls were approved and authorised for isgje by the Trustees and signed on their behalf by..
F Roberson
Chair
Presiolent
Dale:
31ii/LL
1/11/2LZ
The notes on pages 9 to 22 fomi part of these financial statemen
Page 8

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
General infonnation
The financial statemenis are presenls in slerting which is the functional currenGy of the Charity a￿1
rounded lo the nearest £.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have tten prepared in a￿rdan￿ wth the Charities SORP IFRS 102) -
Accounting and Reporting by Charrties." Slalemenl of Recommended Practice applicable to charities
prepsring their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 {effective 1 January 20191. the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
Norfolk Federation of Young Famiers Clubs meets the definition of a public benefit entity under
FRS 102 Assets and liabilities are initially re￿nised 8t historical cost or transaction value unless
othewse ststed in the relevant accounting w>licy.
2.2 Going concem
The Trustees have conside￿1 the Charity's posttion at the lime of signing the finanaal statements
and have concluded that they have a reasonable expectatioTr that the Charity wll have adequate
resources lo continue in operational existence for the foreseeable future, being at least fv4elve
months from the dale of sgning these financial statements. They therefore continue to adopt the
going concem basis of a¢xounb"ng in preparing these financial statements.
2.3 Income
l income is iecognised On￿ the Charity has entsuemenl to the income. it is probable Ihal the
income wll be receiv￿ and the amount of ineome rewvable be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of
receipt and the ability lo estimate with sufficient accuracy the amount re￿1Vable. Evidence of
entitlement lo a legacy exists when the Charity has suffiaent evidence that a gill has been left to
them Ithrough knowledge of the existence ol a valid wll and the death of the benefactor) and the
exec¥Jlor is satisfied that the propety in question will not be required to satisfy claims in the estate.
Receipt of a legacy must recc4nised when it is probable that il wll be received and the fair value
of the amount weivable. which bwll generally be the expected cash amount to be distributed lo the
Charity, Gan be reliably measured.
Grants are included in the Statement of financkql athVit￿s on a receivable baws. The balance of
income received for specific purposes but not expended dunno the Deriod is shown in the relevant
funds on the Balance sheet. Where income is received in advan(E of entitlement of receipt, ils
recognition is deferred and induded in creditors as deferred income. Where entitlement ¢xcut5
before Income is received. the income is accnAed.
Income tax ￿coVerable in relab.on to investrnenl income is recognised at the time the investment
income is re￿Iv3b1e.
Page 9

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Accounting policies (continued)
2.4 Expenditurn
Expendtture is recognised once there is a legal or constructive obligation to transfer economic
benefit lo a third paty. it is probable that a transfer of erx)nomic benefits wll be rsquired in
selllement and the amount of the obligation can be meagjred ￿lIablY. Expenditure is classified by
activity. The Costs of each activity are made up of the lolal of direct costs and shared costs,
including support ¢051s involved in undertaking each activity. Direcl costs attributable to a single
activity are allocated directly lo that activity. Shar￿1 costs which contribute lo more than one activity
and support costs which are not attributable to a single activity are apKK)rtÈoned between those
activities on a basts consistent with the use of iesources. Centrdl staff costs a￿ allocated on the
basis of lime spent. and depreciation charges all￿ated on the pO￿.on of the asset's use.
Expenditu￿ on raisng funds includes all expenditure incurred by Ihe Charity lo raise funds for ils
charitable purpose5 and includes costs of all futxlraising actwib.es events and non-eharitable trading.
Expenditure on chariiable activities is incurred on directly undertaking the actNities which further the
Charity's objectives, as well as any a&%Kiated sjpport cosb.
All expenditure is inclusive of irrecoverabte VAT.
2.5 Tangible fixed assets and depreciation
Tangible fixed as8els costing £NIL or more are (3pilalised and recognised when future economic
benefits are probable and the cosi or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised * cost After recconilion. under the cost model.
tangible fixed awls are meawred al cost le&% ac¢iJmulaled depre¢ialion and any accumulated
impaiment losses. AJI costs incurred to bring a tangible fixed asset into ils intended working
condition shoukl be Induded in the measurement of cost.
Depreciation is ¢hafged ￿ as to allocale the cost of tsngible fixed assets less their re%dual value
over their estimated useful lives.
Depreciation is provided on the foll¢Mng b￿"S..
Office equipment
Other fixed assets
25% reducing balan
25% redtjcing balan
2.6 Investments
Fixed asset investments are a form of financial instrument and are initially rec(yJnised al their
tranÈtsction c03t and 3Ltbsequently measu￿1 at fair value at thB Dalance sheel ddte, uiilgss the
value cannot be measured reliably in which case it is measured 81 c¥)sl less impaim)ent. Investment
gains and losses, whether realised or unrealised. are combined and presented as'GainsllLossesl on
investments. in the Slatement of finan081 &b"vrties.
2.7 Stocks
Stocks a￿ valued al the lowEr of cost and net realisable value after making due all¢)wance for
obsolete and slow-moving stocks. Cost indudes all direct costs and an appropriate proportion of
fixcd and variable overhead$.
Page 10

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCiAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Accounting policies (continued)
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade dixount offered.
Prepayments are valued at the amount prepaKI net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and in hand indudes cash and short-temi highly liquid investments with a short
maturity of three months or less ffom the date of acquisition or opening of the dewsit or similar
account.
2.10 knabilities and provisions
Liabilities are rec(yJnised when there is an obligation at the Balan￿ sheet date as a result of a past
event, il is probable that a transfer of e(x)nomic benefit wll be required in settlement, and the
amount of the setuemenl can be estimated feliably.
2.11 Financial instruments
Other than the Investments for which further detail is given in note 2.7. the Chanty only has financial
assets and financial liabilities of a kind that qualrfy as basc financi81 instruments. Basic financial
instruments are initially recognised at transaction value and subsequently measured al their
settlement value wlh the excepbon of bank loans which are subg8]uenlly measur&J at amortised
cost using the effective interest method.
2.12 Pensions
The Ch3rity operates a defined (x>ntribution pension scheme and the pengon charge rep￿sents the
amounts payable by the Charity to the fund in ￿SpeCt of the year.
2.13 Redundancy Costs
Costs of lemiination of employment are recognised a5 a liability and an expense when the charity
has a detailed fomal plan for the lem)inalion and there is no ￿all$￿¢ possibility of wlhdrawal from
the plan.
2.14 Fund a¢¢ounting
General funds are unrestricted furKls are available lor use al the discretion of the Trustees in
furtherance of the general 0￿.￿￿"¥e5 of the Charity ar￿ which have not txen designated for other
purposes.
Restricted funds ayè funds which arè to bè used in accofdance wth $￿cIfiC restrictions imposed by
donors or which have been raised by the Charity for particular purpose5. The costs of raising and
administering such funds are chaiged against the spxcrfic fund. The aim and use of each restricted
fund is sei otjt in the notes lo Ihe financial statements.
Investrnent inecthe, gains and losses a￿ all(tated lo the appropriate fund.
Page 11

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Income from donations. grants and l¢ga¢i•s
Restricted Unrestricted
funds
funds
2022
2022
Total
funds
2022
Total
funds
2021
Donations (including Gift ￿d)
Legaaes
Grants
G0vemm￿t granls
5.127
107,000
35.850
5,127
107.000
35,850
4.032
29,150
6,490
147.977
147,97T
39,672
Totsl 2021
6.490
33.182
39,672
Legacies income is rectsJnised at the execuiorfs ests'male of the chaTtty's re&dual share of the estate of
M$ Leona Levine Idec'd). An interim payment of 70,000 was received in the year.
GovemmeTrt grants amounting to £nil (2021-£6,4901 were received in the pericxj as part of the charity's
participation in the govemment's Job Retention Scheme to supp)rt organisations during the coronavirus
pandemic.
Incomg from charitsble activities
Unrestrlcted
funds
2022
Total
funds
2022
To181
funds
2021
Social events (including bar inccffie}
Norfolk show
Rally. competitions and training
Counlrysiders support
Club support
7.066
450
S.S18
27
1.560
450
5,518
27
218
13.(
13.064
1, 778
Tot812021
1. 778
1, 778
Page 12

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Fundraising income
Unrnstricted
funds
2022
Tt)tal
funds
2022
Total
funds
2021
Club levies
Advertising
Shop sales
County AGM
19,488
500
2.097
156
19,488
500
7,450
2.097
156
38
22,241
22,241
7.488
Total 2021
7,488
7,488
Investment Incomè
Restrict￿ Unrestricted
funds
funds
2022
2022
Total
funds
2022
Tot81
funds
2021
Interest received
2.528
2,572
2,241
Total 2021
2.239
2,241
Page 13

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Cost of raising funds
Unrestrictgd
funds
2022
Total
funds
2022
Total
funds
2021
100 Club
Shop purchases
345
20
25
2.784
2,784
3.129
3.129
45
Total 2021
45
45
Page 14

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Analy¥i¥ of expenditure by activities
Aetivitl•s
undertakèn
directly
2022
Support
Total
funds
2022
Total
funds
2021
2022
Direct costs
Support costs
19.431
19.431
28,796
6,683
44.338
28,796
19,431
28,796
48,227
51.021
Total 2021
6.683
44,338
51.021
Analysis of direct ¢osts
Total
funds
2022
Total
funds
2021
Bar expenditure
Social event5
441
4,fA2
30
869
200
2,953
214
Counlrysider 5UPPOrt
Norfolk Show expenses
Rally, competitions and training
Webslte and advertising
11,749
1,700
3.316
19,431
6,683
Page 15

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Analysis of expanditu￿ by activities Iconlinued}
Analy818 of support costs
Total
funds
2022
Total
funds
2021
2022
Stsff costs
Redundancy costs
Depreciation
National and County AGM
Chairnian and VI￿ exp*nses
Insuran
Printing. postage and ststionary
Bank charges
MI￿lIaneOuS expenses
National levies and membership cards
Recruitment and training expenses
Soknre expenses
Staff expenses
Payroll processtng
IndepEndent Examineis, f
Loss on sale of fixed assets
16,543
16.543
17.804
7,627
364
1,648
203
205
4.205
518
1,648
203
205
4.205
518
3,5T9
550
320
110
1,138
1.567
213
110
1,138
1,567
213
216
72,585
216
790
440
180
790
325
1.000
1,000
28.796
28,796
44,338
Total 2021
44,338
44,338
The Independent Examinerfs fee is a notional charge and is induded within donations in the Statement
of Financial Activities.
Staff costs
2022
2021
Wages and salaries
Contribution to defined contribution pen￿on ￿erneS
16,521
22
17,566
238
16.543
17,804
Page 16

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Stsff Costs (continued)
The average numL*r of persons employed by the Charity during the year was as follows..
2022
2021
No employee received remuneration amounting to more than £60,000 in erther year.
10. Trust8•s' rnmuneration and exp¢n$ss
During the year, no Twslees re￿ived any remuneration or other benefits (2021- £NIL).
During the year ended 31 August 2022, travel expenses totalltng £NIL were reimbursed OT paid direclly
to Trustee (2021- £NIL lo Twstee).
Page 17

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Tangible fixed a$sets
Office Other fixed
equipmgnt
assets
Totsl
Cost or valuation
At 1 September 2021
Additions
7.834
1.398
9,199
4.111
17.033
S.509
Al 31 August 2022
9.232
13.310
22,542
Deprociation
At 1 September 2021
Charge for the year
7.097
536
8,862
1,112
IS.959
At 31 August 2022
7.633
9,974
17,607
Net book value
At 31 August 2022
1,599
3.336
4,935
At 31 August 2021
737
337
1,074
12.
Flxed asset investments
Listed
Investments
Cost or valuation
Al 1 September 2021
Loss on Tevaluats"on
82.278
14,0311
At 31 August 2022
78,247
Investrnenls are Includ￿ at their mi¢*market value and an histori¢al cost of £30,000.
Page18

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
13. Sto¢ks
2022
2021
Go¢xls for resale
6,845
4,083
14. Debtors
2022
2021
Due wlthln one year
Trade debtors
Legacy
Prepayments and accrued inca)me
7,630
37,000
3.922
3,340
48,552
3,340
15. Creditots: Amounts falling due within one year
2022
2021
Accruals and deferred income
15,000
2022
2021
Deferred income at 1 September 2021
Resources deferred during the year
Amounts released from previous peri¢)ds
15.000
15,(100
15, 000
(15,000)
I15,C(￿l
15,000
Deferred income represents grant irtcome received in relation to staffing wsls incurred in the followng
year
Page 19

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
16. Financial instruments
2022
2021
Financlal assets
Financial assets Measur￿ at fair value throLuh inc(￿e and expenditure
77.598
82,278
Financial assets measured al fair value through income and expenditure comprise listed inve5trnenls.
17. Statement of funds
Statement of funds- eurrent year
Balance at 1
September
2021
BalanGe at
Gainsl 31 August
{Lossos)
2022
Income Exponditurè
Unrestricted funds
General Reserye
221,9S5
185,810
{51,3561
14,031)
352,378
Restricted funds
CILJb Support
Gaze & ￿"drter
10,517
3.339
36
10,553
3,347
13.856
13,900
Total of funds
235,811
185.854
(51.3561
14.0311
366,278
Page 20

NORFOLK FEOEIiATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
17. Statement of funds leontinuad)
Statement of funds - prior year
Balar￿e at
I September
2020
Balance at
31 August
2021
T￿nSfe
I￿out
Gainsl
(LO￿eS)
Income Expenditure
Unrestricted
funds
General
Reserve
212.264
44.687
(51.066)
6,490
9,580
221,955
Restricted
nds
Club Support
Gaze & ￿'dner
Furtough Fund
10.5t5
3,339
10.517
3,339
6,490
(6,490)
13,854
6.492
(6,490J
13,856
Total of funds
226.118
51.IT9
(51.066)
9.580
235,811
The unrestricted funds represent the free funds of the charity vthich are not designated for particular
purposes.
The Gaze and lQdner Fund ￿presents restn.cted funds which are to ￿ used to fund specific training
progiamffles.
The Club Suppv)rt Fund represents monies from dosed dubs %thich can only be used for restarting or
supporting new dubs.
The Furtough Fund represents monies received from the government to fund payroll costs during the
coronavirus pandemic. Amounts received into this fund are tBnsferr&Y lo general fijnds as the payroll
costs are incurred.
Page 21

NORFOLK FEDERATION OF YOUNG FARMERS CLUBS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
18. Analysis of net assets between funds
Analys18 of net assets ￿tWeen funds - current year
Restrlcted Unrestricted
funds
funds
2022
2022
Total
funds
2022
Tangible fixed assets
Fixed asset investments
Current assets
4,935
78,247
269,196
4,935
78,247
283.096
13,900
Total
13.900
352,378
366,278
Analy$i$ of net assets botwgen funds - prior y••r
Resbicted Unreslrict&d
funds
funds
2021
2021
Totel
funds
2021
Tangible fixed assets
Fixed asset invesknenls
Current assets
Creditors due within one year
1,074
82,278
153, 603
(75, 000)
1,074
82,278
t67,459
(15,000)
13,856
Total
13,856
221,955
235,811
19.
Pension ¢ommitments
The charity operates a defined contribution Ftnsion scheme. The assets of the scheme are held
separately from those of the group in an independently administered fund. The pension cost charge
presents contributions payable by the group to the fund and Sfflounted to £22 12021 £238}. There
were no outstanding contributions at the balar￿e sheet dale.
Page 22