## **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**|**INDEX**
|**Page**
**1**
**2-3**
**4**
**5**
**6**
**7**|
|---|---|---|
**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:
- 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:
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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|
|---|---|---|
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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