THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS
Registered Charity No: 304848
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS
| Reference and administrative details Trustees report Independent Examiner’s Report Receipts and payments account Statement of assets and liabilities Notes to the financial statements |
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Page 1 2-3 4 5 6 7 |
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THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS
Reference and administrative details
For the year ended 31 July 2024
Charity Registration Number
304848
Registered Address of Charity
Suffolk YFC Office, Trinity Park, Felixstowe Road, Ipswich, IP3 8UH
Trustees
Richard Duchesne President William Faulds Chair Ella Thackray Treasurer
Bankers
Barclays Bank UK PLC, Stowmarket
Barclays Bank UK PLC, Ipswich
Advisors
Accountants – Neil Meekings, Ensors Accountants LLP
Independent Examiner – Chris Reeve, Gascoynes Ltd
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THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS
Trustees report for the year ended 31 July 2024
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 2024. 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 Ella Thackray Treasurer
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.
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 £15,155 (2023: £9,289) as a result of £70,019 income combined with expenses of £54,864. At the year-end date cash reserves of £119,159 (2023: 104,004) were carried forward for the future use of the charity.
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THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS
Trustees report for the year ended 31 July 2024 (continued)
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.
Going concern
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.
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
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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 2024
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 2024.
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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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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:
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THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS
Receipts and payments account
| For the year ended 31 July 2024 Receipts: General Income Suffolk Agricultural Association Grant Other grants Country levy Donations Sundry Interest National Levy Insurance Fundraising Income Total receipts Payments: Salaries and travel (No. of employees 2024: 2, 2023: 2) National levy Chairman’s honorarium Other grants Sundry expenses Computer and website Telephone Insurance Training Sporting event costs Fixed asset expenditure Fundraising Total payments (Deficit)/ Surplus of payments over receipts Transfer between funds Cash at bank – balance brought forward Cash at bank – balance carried forward |
Restricted Unrestricted 2024 Funds Funds Total Note £ £ £ - 1,000 1,000 - 13,600 13,600 - 3,175 3,175 - - - - 2,770 2,770 - 1,225 1,225 - 730 730 - 2,325 2,325 - 24,825 24,825 2 - 45,194 45,194 - 70,019 70,019 - 14,339 14,339 - - - 4 - 300 300 - 4,500 4,500 - 1,800 1,800 - - - - - - - 2,055 2,055 - 384 384 - 1,285 1,285 - - - 2 - 30,201 30,201 - 54,864 54,864 15,155 15,155 - 104,004 104,004 119,159 119,159 |
2023 Total £ - 23,932 2,378 4,008 6,162 376 |
|---|---|---|
2 4 2 |
36,856 33,486 |
|
| 70,342 | ||
| 18,700 155 300 4,432 6,240 212 389 363 - 1,440 911 27,911 |
||
| 61,053 | ||
| 9,289 - 94,715 |
||
| 104,004 |
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THE SUFFOLK COUNTY FEDERATION OF YOUNG FARMERS CLUBS
Statement of assets and liabilities
For the year ended 31 July 2024
| 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 |
2024 4,061 19,499 84,466 2,752 6,068 6,374 119,159 (-) 123,221 123,213 8 |
2023 4,061 6,148 83,324 2,715 5,783 6,034 104,004 (-) 108,065 108,057 8 |
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The notes on page 8 form part of these accounts.
Approved for and on behalf of the Trustees by:
.......................................................... Richard Duchesne
xx/xx/xxxx
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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)
| Clay Shoot Beet Pull 300 Club Social events and Bar County Ball Fireworks Fun Day Junior Campout |
2024 Income Expense Net £ £ £ 2,513 1,726 787 8,900 604 8,296 1,037 778 259 4,810 3,664 1,146 22,120 18,546 3,574 1,878 1,157 721 - - - 3,936 3,726 210 45,194 30,201 14,993 |
2023 Income Expense Net £ £ £ 3,632 2,619 1,013 700 - 700 1,029 929 100 2,799 2,264 535 22,616 20,543 2,073 2,624 1,156 1,468 86 400 (314) - - - |
|---|---|---|
| 33,486 27,911 5,575 |
3. Fixed Assets (Unrestricted Funds)
Value in use £ 1 PC 50 1 Laptop (Acer) 600 1 Trailer 2,500 1 Laptop 911 4,061
The above assets were held as part of unrestricted funds.
4. Related Party Transactions
During the year Honorarium of £300 (2023: £300) were paid to a trustee.
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