2023-07-31-accounts - The Suffolk County Federation Of Young Farmers Clubs

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THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS

Registered Charity No: 304848

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS

INDEX

Reference and administrative details Trustees report Independent Examiner’s Report Receipts and payments account Statement of assets and liabilities Notes to the financial statements	Page
	1 2 - 4 5 6 7 8

THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS

Reference and administrative details

For the year ended 31 July 2023

Charity Registration Number

304848

Registered Address of Charity

Suffolk YFC Office, Charity Farmhouse, Charity Lane, Otley, Ipswich IP6 9NA

Trustees

Richard Duchesne President William Faulds Chair Rebecca Finbow (Resigned 12[th] October 2022)

Bankers

Barclays Bank UK PLC, Stowmarket

Barclays Bank UK PLC, Ipswich

Advisors

Accountants – Neil Meekings, Ensors Accountants LLP

Independent Examiner – Claire Bissett

THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS

Trustees report for the year ended 31 July 2023

The Trustees present their Report on the affairs of The Suffolk County Federation of Young Farmers together with the Financial Statements for the year ended 31 July 2023. The accounts have been prepared under the historical cost convention in accordance with the Charities Act 2011 using a receipts and payments basis.

The Charity registered with the Charity Commission on 4 October 1965. It is governed by its constitution adopted on 12 May 1959 as amended on 5 November 1981 and 27 October 1986.

Administration of the charity

The charity is administered by the Trustees who review the performance and the governance of the charity regularly.

The Trustees of the charity are as follows –

Richard Duchesne President William Faulds Chair

The Trustees will review the composition of the Board, identifying the need for recruitment processes to take place. The majority of trustees are identified through word of mouth and knowledge of the charity. Trustees will review any potential candidate to ensure that they complement the charity and the Board.

New Trustees will communicate with the Charity and its existing Trustees prior to becoming a member, during which time the individuals will obtain an understanding of the objectives and operations of the charity and their expected role

Objectives and activities for the public benefit

Main Activities

The purpose of the charity is to advance the education of young members of the public at large in agriculture, homecrafts, country life and related subjects. It is in the interests of the social welfare of such members to provide and promote the provision of facilities for recreation and other leisure time occupations, being facilities, which will improve their conditions of life and will assist in the development of their spiritual and mental capacities, self-reliance and individual responsibility so that they may grow to full maturity as individuals and members of the community.

Suffolk Young Farmers Clubs are part of a national organisation of approximately 20,000 members. There are currently 7 clubs operating through Suffolk, with junior clubs catering to the 10-16 age range, and senior clubs in the 16-30 age range.

2 –

THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS

Trustees report for the year ended 31 July 2023 (continued)

Achievements, performance and financial review

The Charity’s performance for the year is shown within the receipts and payments account on page 6.

During the year the Charity’s activities resulted in a net surplus in receipts of £9,286 (2022: (£6,649)) as a result of £70,341 income combined with expenses of £61,055. At the year-end date cash reserves of £104,004 (2022: £94,717) were carried forward for the future use of the charity.

Future Developments

The Trustees will ensure that the charity will continue to meet its charitable objectives for the foreseeable future, ensuring that the beneficiaries will continue to benefit from its activities.

Covid pandemic and going concern

As with other Charities, operations have been affected by the Covid pandemic by the ability to hold events, and to ensure that these are compliant with the regulations in place to limit the spread of the virus. Events have begun to continue as normal during the year with less Covid restrictions being in place.

The going concern assumption used within the financial statements is considered appropriate given the reserves of the charity, which will support its activities in the foreseeable future. The continued support from Trustees and donors has continued to ensure that the Charity furthers its aims.

Reserves

Reserves are reviewed and monitored by Trustees at regular intervals. An analysis of the reserves held by the Charity is included within the financial information to these accounts.

Investment policy

The trustees review the level of cash reserves and will maintain funds as they see fit to meet the day-today objectives of the charity.

THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS

Trustees report for the year ended 31 July 2023 (continued)

Public Benefit

The Board of Trustees are aware of their duty to ensure that the activities of The Suffolk County Federation of Young Farmers Clubs further its charitable objectives and that these activities are for the purpose of public benefit.

Risk Statement

The major risks to which the Charity is exposed, as identified by the Trustees, have been reviewed and the systems have been established to mitigate those risks.

The above report has been approved by the trustees signed on their behalf by:

.......................................................... Richard Duchesne

xx/xx/xxxx

THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS

Independent examiner’s report to the Trustees of The Suffolk County Federation of Young Farmers Clubs

For the year ended 31 July 2023

I report to the Trustees on my examination of the accounts of The Suffolk County Federation of Young Farmers Clubs (the Charity) for the year ended 31 July 2023.

Responsibilities and basis of report

As the charity Trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

…………………………..…………. EXAMINER Address

Date:

5 –

THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS

Receipts and payments account

For the year ended 31 July 2023 Restricted Unrestricte d 2023 Funds Funds Total Not e £ £ £ Receipts: General Income Suffolk Agricultural Association Grant - - - Other grants - 23,932 23,932 Country levy - 2,378 2,378 Donations - 4,985 4,985 Sundry - 6,162 6,162 Interest - 376 376 - 37,833 37,833 Fundraising Income 2 - 32,509 32,509 Total receipts - 70,342 70,342 Payments: Salaries and travel (No. of employees 2023: 2, 2022: 1) - 18,700 18,700 National levy - 155 155 Chairman’s honorarium - 300 300 Subscriptions - - - Other grants - 4,432 4,432 Sundry expenses - 6,240 6,240 Stationery - - - Postage - - - Computer and website - 212 212 Photocopier rental and copies - - - Telephone - 389 389 Insurance - 363 363 Accountancy (including sage subscription) - - - Sporting event costs - 1,440 1,440 Suffolk Show - - - Fixed asset expenditure - 911 911 Fundraising 2 - 27,911 27,911 Total payments - 61,053 61,053 (Deficit)/ Surplus of payments over receipts - 9,289 9,289 Transfer between funds (3,995) 3,995 - Cash at bank – balance brought forward 4,003 90,712 94,715 Cash at bank – balance carried forward 8 103,996 104,004	2022 Total £ - 1,000 - 793 1,687 11
	3,491 15,858

	19,349
	11,566 - 800 - - 766 28 475 710 144 203 - 899 318 - 9,579
	25,998
	(6,649) - 101,364
	94,715

THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS

Statement of assets and liabilities

For the year ended 31 July 2023

Note Tangible Assets Fixed assets 3 Bank and cash balances Current Account High Interest Account Closed fund account Friends of YFC 300 Club Creditors Accruals Net Assets Represented by: General Fund 1 Restricted Funds 1	2023 4,061 6,148 83,324 2,715 5,783 6,034 104,004 (-) 108,065 108,057 8	2022 3,150	2022
		7,682 72,984 2,704 5,437 5,908
		94,715
		(-)
		97,865 93,862 4,003

The notes on page 8 form part of these accounts.

Approved for and on behalf of the Trustees by:

.......................................................... Richard Duchesne

xx/xx/xxxx

THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS

Notes to the financial statements

1. Accounting Policies

The accounts have been prepared under the historical cost convention in accordance with the Charities Act 2011 using a receipts and payments basis.

Fixed Assets

Fixed assets have been held at their value in used, which is reviewed by the Charity in value year on year.

Funds

Unrestricted funds comprise of amounts available for use at the Trustee’s discretion in furtherance of the Charity’s objectives.

Restricted funds relate to the Close Club Fund. YFC Clubs that close must transfer any outstanding cash balance to the Closed Clubs Fund. These monies are held for seven years unless they are re-used for a new club serving the same area as the one that was closed.

2. Fundraising (Unrestricted Funds)

2023 Income Expense Net £ £ £ Clay Shoot 3,632 2,619 1,013 Beet Pull 700 - 700 300 Club 52 929 (877) Social events and Bar 2,799 2,264 535 County Ball 22,616 20,543 2,073 Fireworks 2,624 1,156 1,468 Fun Day 86 400 (314) 32,509 27,911 4,598 . Fixed Assets (Unrestricted Funds) 1 PC 1 Laptop (Acer) 1 Trailer 1 Laptop	2022 Income Expense Net £ £ £ 3,070 1,727 1,342 - - - 1,248 889 359 2,258 1,803 456 - - - 1,385 1,125 260 6,655 3,345 3,310	2022 Income Expense Net £ £ £ 3,070 1,727 1,342 - - - 1,248 889 359 2,258 1,803 456 - - - 1,385 1,125 260 6,655 3,345 3,310
	15,858 9,579 6,280
		Value in use £ 50 600 2,500 911 4,061

3. Fixed Assets (Unrestricted Funds)

The above assets were held as part of unrestricted funds.

4. Related Party Transactions

During the year Honorarium of £300 (2022: £800) were paid to a trustee.