ChaTlty reE1StraOn numbtr 305607 THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS LEGALAND ADMINISTRATIVE INFORMATION TIu5tpos Charlty number 30560-1 YFC Off)ie Lacklièm Collpgp Cliippenham SNlJf 2NY IndepEndent examiner Old Mill AccOunnc¥ Llrnited Ciroenwir ys Busin055 Piirk CHIPPENHAM WiltshirE l.nyland SN15 IBN
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS CONTENTS Page Trustees, report Independent examiner'5 report StBtement of linancial activities B314nce sheet Notes to the financial statements 7-16
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2023 The trustee5 present their annual report aiid Iiiiaiicial %lii loiiip.iils lor Ilie year p.rided 30 Jufip 20?3. The fi'nanclal statÈtnents hrf?vo been preparo.d Iii ciccordiii(-.Il Witli tlio dCCOLlntinR r)iJlii.-Ir.4% Sèt Dut in note I to the financial 5tatemonts and comply with the Cliai ity's V.OVPl-IiiliB docuineiit, tlip. (.-liarities Acl ?.011 'Ar.coiintlllE RepDfiing by Ch3ritie5.' St3ternent of Recominendc(I pitir.ticp applic3blp. 10 ch,Iriries preparing Iheir accoijnts in accordance with the FiTrancial ReporhnE Standard applicablp. in tlio UK and Repiiblir. of Ircliind IFIIS 1021" lelfp.ctive l January 2n191- Objectives 8nd activitie5 The Wiltsliire County Federaifjon of YouTrg Farmer'5 Clubs was con5btuted by conskntution and is a rÈglstered tharitv Iregi5traknon number 3056071. The charity w8s esiabli5hed to advance tlie educahon of young mombers ol the public <11 large In agriculture, l)ome crafts, country life and relatod subjects. It runs educattonal activikne5 including Skills For Life (Curwe modules) proerainme and an Annu21 Rally Is held wh@ro all TnembÉr5 aro encouraged to enter competitions. The Charity 3150 holds ewents such 8$ Sports matches, quizzes and annual dances. Th2se evenis are all run by the metnber5. In the Interests ol the Social welfare Df such members of the public to provlde, and promotÈ the provislon of laci1itie5 for recreabon and other leisur@ time occupations, being facilities which will improve their condibons of life 3nd W11 assist in the development of thelr spiritual mental c3pacikne5, self-ieliance 3nd Individual responsibility so that they may grow to full Tllaturity as individua15 and members of thÈ tommunitv. The address of the charity is YFC Oflice, L3ckham College, L3cock, Chipp2rtham, Wiltshire, SN15 2NY. The trustees liave paid due rÈgard to guidance issued by thp Charity Commlssion in decidlng whBt activilies the Charity should undertake. The grant maklng policy is to support members of the Wiltshire Federation OF Young F3rmers Clubs. Achievements and performance MÈtnber5hip has continued to grow. WÈ have had a successful year, with membership now at 272. Over the winter mtsnths our members enjoyed a variety ol County meetinES, alon51dC their norrnal Club ifQL'tings. Iceskating in Bath,. Our Christmas Fair which included some of our members selling rhoir own WLircs' Carol singing al Salisbury Market with the RABI., Plough service,. learning to lay ri Hedge- a talk from the Polir.e on Safe drive. stay Lilivo and a visil. to TFI Whites for Farm safety trnining. With spoits compoiitions in 5 a sido football, Kwik Cricl¢ct, Rounder., 3 niEhtliike and Unihoc. At the ond of JanuiL ry we mado a start orJ oiir 98 Rcilly competitions witli a SpeiL kinE day., Stockjudging day, all culminating on Rally Day at Aqu& TonE Farm at the end of April, Souih West Aoa saw 46 rnembErs attend the weekend in Weymouth, with teams golng throu6h to National Finals. Along with CDmpetihons Day at KinEton Maurward College where our slockjudEer5 dld d Idrita5tic job and Lame 3" lor Lhe te3m event, and our farm Safety team coming 6 at NaLional la Ereat achiovemont for our sma11 County). We also have somo Junlor membprs attendlng thÈ SWA Junior Residential in Shropshlre in August. Slnèncial revSew Durlng the period under review, net income totalled £57,32912022..£62,7621. Thi5 consisted of subscriptions £16,68712022'. £16,18611 gr3nts and donations £7,4S212022..£7.4571, int2re%t £22412022..£6561 and fundraising £32,96612022.'£38.4631. The twsiees report that the current hnanciBI position remains Sound. The Iru5teÈ5 eontinue to be of the view, as recommended by the Charity Commi551on, that they should maintain an appropriate level ol free reserves li.e. unrestricted funds not tied up in the charitable lixed a55@tsl. The trustees have decided thai the free reserves should equate to at least 50% of it5 annual expenditure, in order to ensure the continulty of operaknon5 In case ol unforeseen events.
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS TRUSTEES, REPORT ICONTSNUEDI FOR THE YEAR ENDED 30 JUNE 2023 11e.nt to 7 months 12022..91 of recurring AS ?t 30 June 2023 the level of froo rosor¥e5 Wcis E_4?.065 1?_0?.2.'.F.411.fJ Jd), CQVIVE expendlture. The trustee5 are comfDrtablo that the currpiit 1p.vel of frce rp5eives ir ie appinprir)lQ to the ch.Irity'S circumst3nces at prÈsent. The tru5tee5 coiiLinuÈ to rcviLW I.IIL% ILlyLJl ul Ircc ie5erveb L'tich yEar. lied that systems 6 in place to mid8ate exposuro to tl)È major rlsks. A trustee sits on the executive committee and linance in general purp05e5 iommittco to advlse and guide throughout the year. lTrvesrment5 are made in a h'xed term accDunt within Lloyds Banking Group. Plansfor future periods For the coming year we are looking to rocruit 3n As515tant Organisor. We will also be h05tine theSWA compctitions day in June 2024. Structure, governance and management Members aged between 10 & 28 years old make up the Clubs, guided by Leaders and an Advi50ry Committee. All Clubs are aflillated to a County. Each County is affili3ted to the Naiional Federation of Young Farn)ers Clubs. The charity is governed by the county conshtution first adopted in 1972 and last updated on 27 September 2021 and adopted at the Annual General Meeting. The trustses who served durinE the year and up to the date of signature of the linancial statements wère.. Paul Wiltshire Marian James Rob Burrough Tru5tÈe5 are appointed by elechon at the Annijrfl General Me.plin2. Trustee5 attend County meetings and are Itjlly inlormecI and awar@ of tho countie5 acbviknes. They advise the membèrs on thÈir respon5ibilibe5, SO that the County i.E run well and 15 li1)ancially solvent, with furids being used for the purpose for which they are given and in accordance with Charity reeiilètioiis. Trustee5 Sit on Ihe staff managp.ment committp.e to advisè on employment and other logislation maltors. They also advise on 5afeguiL rding the best interests ol th@ memb@r5 and the Chailiy. Our tnjstees have control ol the Charity savings and invest them whero they will be of benelit to thè Charity. They discuss and repDrt on the inve5ttMent5 at the linance and Eeneral purpose5 cornmittee meetings.
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30JUNE 2023 statement of trustÈe5' respon51bllities The trustees are rÈspon5ible for i)reparii)g tl)2 Irustp.ps' ALsport nil tl)e lir)clTlf.iril 5tatp.mp.nts in accordance with applicable law and United Kingdom Accountiiig StaliLldrd5 IUriltL,d KiiiEdom (-.L'[IL'fLilly Acioprocl Accoiinting Praclicel. The law applicable to charities In EnRland and Wales roqijires tlic trustees lo prepare lincincial tateMntS for e6ch linancial year which 8ivÈ a truE and lair viow of the statQ Df 3fldil'5 ol Ilic Cliarily ol the incomlng resource5 and applic3ti0n of resourcÈs of tho Charlty for tliat year. In prep3rii)g these linancial stdtement5, the trustees are ieqiiired to,. -s@lect suitable accounting pttlicies and then apply thÈm consistently,, observe the methods 8nd principles in the Cl)arities SORP,. make judgements and psknmates that are reasonable and prudeDt,' state whethor applicablo accounting standard5 hDve boon followod, subjoct to any material dep3rture5 dlsclosed and explained in the linancial statÈment5,' and prepare the tinancial Statements on the going concern basis unless it is inappropriate to presume that the charity will rontinue in operation. The twstÈes are rospDnsible for keeping sufficient accounting records that disclose with roasonzble accura£y at any time the linancial p05ititsn of the Charity and enabl2 thom to ensure tha; tne financial 5tatenients comply witli the Charities Act 2011, the Charity IAccounts and Reports) RegLJlations 2008 and the provisions of the trust deed. fhey are also responsible for salÈguardinE the assÈts ol the Charity and htnco lor taking reasonable step5 lor thp prevention and cletection Cil fraud 3nd other Irregulaiities. trustees, report was approved by the Board of Trugtees. Rob èurrough TrustEe Date..
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS I report to the trustÈes on my exaTnination of the financial slaiemBnt5 01 The Wiltshire County F(rMon of Young Farmers. Clubs (the Charity) for the yoareiided 30 Jiifie 2023. Responsibilitiès and basis of roport As the trustees of the Charity VDV li re rospon5iblo for tho prcp¢irititrn of the lininclal stoiemont5 in accordance with the requirements of the Cliaritie5 Act 2011 IthL 2011 Aill. I report in respect of my examination of the Charity'% finEinc1i1 I stcltoments C3rried Dui under section 145 of the 2011 Act. ln t3rryinE oul my examinatiDn I have followed all the applicable Direchons elven by Ihe C113rity Commisslon under section 145 15llbl of the 2011 Act. Independent exarniner's statement I have CDmpleted my examination. I confirm tliat no matters have come to my attenhon in connecilon with the examlnition giving me cause to believe that in any material respect.. accountinÉ records wer@ not kept in respect of the Charity as required by section 130 of the 2011 Act.. or the financial statÈment5 do not accord with those records., or thè ftnancial ststement5 do not comply with the applicable requirements ioncernlng the form and contont of accounts 5Et out in the Charitie5 (Accounts and RepDrtsl Regulaiions ?.008 othe.r than any requiretnent that the accounts give a true and fairview which 15 not a matter considered Bs part of an independent Èxamination. I have no concerns and have come across no otlier rnatters in connection wiLh the examin3bon to which atteniion should be drawn In thi5 report in order to enable a proper understsnding of thÈfinancial statements to bo reached. TIM LEnvIII, FCA Old Mlll Accountancy LimitÈd GreenwÈy5 Business Park CHIPPENHAM Wiltshire SN15 IBN England Dated.. 1011112023
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS. CLUBS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2023 UnrÈstrittÈd Re5triEtÈd fund5 2023 Toral Total fund5 2021 2023 Z022 Note5 efr Grant5 aiid Donations ub Subscriphons Fundfftlsing Activitie5 Investments 7,451_ 16,687 32,966 224 7,452 16,687 32,966 224 7,457 16,186 38,463 656 Total iftcome 57,329 57,329 62.762 Chaiilable actiwities 56,117 56,117 53,722 Tr3nsfEr inlloutl of funds Net income for the yearl 11,0001 Not movement in fund5 1,212 1.212 8.040 Fund balances at l July 2022 111,821 22,463 134,284 126,244 Fund balances at 30 June 2023 113.033 22,463 135,496 134,284 The statement of financial activities include5 all gain5 3Trd ltssses recoEnised in thÈ year. All income and expendlture derive frorn continuing activitie5.
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS BALANCE SHEET AS AT 30JUNE 2023 2023 2022 NDtos Fixed assets T3nglble asset5 Investments 13 14 756 80,000 827 70,000 70,827 current assets Stocks Oebtors Cash at b3nk and In hand 80,756 15 75 18,241 36.424 89 16,111 47,505 16 54,740 63,705 CredStor5.' 8mount5 fallinE dtte within onÈ year 17 12481 Ilet £urrent a55et5 54,740 63,457 135,496 134,284 IncDme fund5 18 22,463 113.033 22,463 111,821 Unrestricted funds 135,4196 134,284 The financial ststements were approved by the Trustee5 On Rob Burrough Truste&
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMER5, CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Aceountlng policies Charity information The Wiltshire County Federation ol YoLIiiB Farmer5, Cub5 15 consiiiiited l)y the countie5 consitubon and Is a reglstered li?(1 to fi¢lv.Trnr?. the p.IlucitiDn of yDuDg members of thp for life (Curve Inodijlesl progr3mine and an aTiniial r,Illy is held whprtr all member5 are encourag2d to enter £ompetitions, Tho cliarity iilso holds ovonts Ruch 5portfi mir tchp,., quir./orJ and Rnntjffil dinte These e.veniS are all run by the members for thÈ MÉmbÈr5. The principal Offic addres: f tho charity is YFC Olliic. L3ckham College, Lacock, Chippenham, bililtshire, SNIS 2NY. 1.1 Accounting convÈntiDn The financial Statements have been prepared In accord3nce wlth the Ch3rity's govprning document, the Chaiitie5 Acr 2011, FRS L02 'The Flnanclal RÈporting Standard appliciiblp in the UK 3nd Republic of Ireland" I'FRS 102"13nd the Charibes SORP Accounting i?nd ftepothng by Ch3ritie%'. St3temÈnt of Recomrnended pracknce 3pplicable to charihes preparing thelr accounts In accordance wltli the FinaDci31 Reporknng Standard applicable in the UK and RÈpublic of lffland IFRS 1021 leffpcbve l Janu31y 20191. Tho Charity 15 a Public B&nefii Enhtv 11 4 deh'nÈd hy FRS 102. The Charity has taken advantage of rhe provisions in tlie SORP for charitie5 not to prepare 3 Statement of Chsh Flows. The fiDanclal Statements are prepared in Sterling, whlch 15 the functional currency of the chariry. Monetary amounts in thesÈ financlal statemÈnts are rounded to rhe nearest £. The h-nancial statement5 have been prepared under the hislorlcal cosr convention. Th& prlncipal accounting policies adopted are Set out below. 1.2 Going toncern At the time ol approving the linanclal staieinenl5, tlie tru5tÉÈs have a reasonable expectaiion that the Charity has adeouate resourcÈs to continue in operaliDnal existgnce lor the loreseeab5e future. Thu5 the trustees continue to adopt the going toncern b35is ol accountine in preparinE tho linJncial statoments. 1.3 ChÈritsble fund5 Unrestricted lund5 are avallable for u£e ai the discreknon OF the tru5teE5 in furtherance of theircharitable objectives. Restrictod funds are subjert to speclhc conditions by donor.% a5 to how they may be used. The purposes and uses of the strlcted funds 6re sor out In the note5 to the fi-nancial 5thtements. 1.4 Income lTrtome is recoEnised when the Charity 1% legally entitled to It aftÈr any perform3nce conditions have been met, the amounts can be mÈasured reliably, and it Is probable that income will be rccelved. Cash donations are recognised on receipt, other don3trons are recognised once the Charity has been notified ol the donation, unless performance conditions require delorral ol the amount. Incowe tax reCOvrable in relation to donatbons cE1Ved under Gift Aid or deeds of cov2nant15 r@COEnised at the knme of th@ donation. Donated 5ervlces or fatilities which compiise donated strvicÈs are includÈd in incDmÈ at a valuation which Is an e5bmato ol thÈ financial t05t borno by the donor whrrÈ such c05t is quantiliable and measurable. No income is recogn15ed where there is no linanclal CDSt borne by a third party. Interest 15 included when receivable and the amount can be measured rellably by the charity,. this 15 normally upon nolication ol the intero5t paid or rÈplc yable by the bank.
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS NOTES TO THE FINANCIAL sfATEMENT5 ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2023 Accountlng policiÈs (Continued) ..5 Exppnditu Expenditure Is recoEnised once tliere is a Ip.E?l or EOn.£triiclive Dl)IlgatioTr to make 3 payment to a third p3riy. it is probably that sertlement will be required aiid theL I mDUnt nf tho hligation Clin be meii%urod reliably, Iirecoverable VAT Is charged a5 a c05t agoinst tho activity fnr which the cxpEndiiure wae Iniurred, 1.6 Tangible fixed 2SSQts Tangible lixed 3sset5 are inltrally moasurÈd at C05t and subsequpntly mpdf?5Ufcd at C04t or valuation, net of depreci?tion ènd any impairment lossÈs. Depre¢lation is recognised so 35 to writo off the cost or valuation of a55ets le59 rheir re51dual values over their useful live5 OTr tlie Followlng bHses'. Fixtures and flttings ComputÈrs IS% reducing balance 15% rèducing balance The Eain or loss arlsing on the disposal of an asset 15 determined as the difforentÈ betweÈn the sale proceeds and thÈ canyingvalue of the asset, and is recogni5Èd In Ihe statemÈnt of linancial activititts. 1.7 Fixed asset investments Fixed asset inve5tmÈnts are measured at Cost. Investments Include moD2y held in lixed term bond5. l.B Impalrment ol fTKed assets At each rÈporknDg Ènd date, the Charity reviews Ilie carryiDB amounts of its tanÉible R55et5 10 detèrmine wh&ther thp.re is any Indication that those assets havo suffertd an impairment 1055. If any suth indication exist5, the recovÈrable mount ol the 855Ét is e5limatBd in order to deterinine tIIL Cxtent of the impairment loss lif anyl, Rocovetsble amount Is the higher of f3lr voluÈ le55 COSt5 to sell and value in iise. In assessing value in use, the estimated future cash flows are discounte(J to Iheir presont value using a prLY. lax discount rate that roflects current market 3S5essment5 01 the time value of money and the risks sptcilic to Llie asset lor whiih IliÈ eslini£ilè5 (JF futur@ cash flows havÈ not been adjusted. 11 the recoverabl@ amount Df an as5el 15 Èstirnated to be l@ss than ils carryiiig amount, the carrying amount ol the asset is redUd to its recovorable amount. An impir irinent Ios5 15 1.ecoini5ed immÈdiately in incomellexpenditure lor the year, unles£ the relevant asset is carried at a revalued amount, in wliich case the Impairment Ic6S 15 treated as revaluation decrease. RecognI5ed impalrment SDSSÈS arÈ reversed if, 3nd only il, the reasons for thÈ itnpairment105s have c2ased to apply. Where an itnpairment Ioss SL4bsequently reverses, the carrying amount ol rhe asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that WOLsld have bÈ&n dÈtermined had iio impalrment10ss been retoenised lor the asset in prior years. A Versal ol an impairment loss is iecognisÈd immediately, unless the relevant asset is carried in at a revalued amount, in whlch case the r@versal of the impalrment Ios5 IS treated as 3 revaluation increasÈ.
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30JUNE 2023 Accounting pollcles (Continuedl 1.9 stocks Stock5 are stated at thp lowor of cost and p.Etimatp.Il 4&llinE prlr.e t5$ cost5 tD complotp t1nd £ell. C.05t ct)mprises direit to their present location and condibon. Iterns lield for distribuhDn èt no or ntsminèl con51derHtion arÈ measured the lower Df replacement C05t and cost. Net realisable valiiÈ is the E4timrlted selliiig price less all eihm?ted cost4 of iornplf tion and cost5 to be 1Curred in marketing, selling and distribution. 1.10 Cash and tash e4uivalent5 Cash and cash oquivalonts include cash In hand, deposits held 3t call with b3nks, oth2r short-term liquid Investments with original mBturitie5 of three mDnth5 Dr le55, and bank overdraft5. Bank Dverdr3ft5 are shown within borroiwings in 1.11 Financial instruments The Charity ha5 elected to apply the piovi5ions of 5echOn 11 'Ba5ic Financial Instruments, and Stction 12 '0thÈr Financial Instrumeftts15sues' of FRS 102 ta all of its linancial instruments, Flnancial iD5truments are recognlsed in the Charity's balance sheet when the Charity becornes p3rty to the contractual provlslons ol the instrument. Financlal 355ets and liabilibes are offset, with the net amouNt5 presented in the lin3nEial statements, when th2re is a legally enforce3ble right to Set off the recDgnised amounts and there 1$ 3n Intention to 5Ètile on a net basls or to realise the assÈt and settle the liability simultancously. Busicfinonciol u55ets B35ic linantlal assets, which Includp debtors 3nd cash and bank b318ncp5, are initially rnea5ured at transaction price including transaction cost5 and arp. subspqiienrly carrled at amorti%ed cost Usiny, Ihe effective interest meihod unless the arrangement ronstitutes a linancing traiisar.tion, Whor the transacknon is MoaSred at the presonL value ol the future recelprs di5fOUnted at a markei rate ol itereS1. Finfinclal 3SSet5 1.la5sihed 35 receivable rythin one. year Hre not amortised. sf¢Jtnunciolllobilities B3sic linanclal IiabilitiÈS, inclLiding creditor5 and bank loans arp initially recognlsed at transaction price unless the arraTr£@ment constituttrs 3 linancine transaction, wherp the debt in51rumeDt 15 measured at the prese[* value of the future paymont5 discouDtod at a InarkL)t rate of intClL?5t. Finaniial Ilablliii@s cldssilied as payable within one year are not aMOrSed. Debt instruments aro subsequently carried at amorhsLd cosl, using tlie effective IntÈre5t rat? method. Trade creditors aro obliEations to pay lor eoods or servicos that have been acquir2d in thÈ ordinary course DI operations Irotll 5uppller5. Amounts pay8blo are classilied as current liabilitie5 il paynient is due within one year or less. If not, they ale pre52nted gs non-current llabllities. Trade creditors are recognised initially ht transaction pmce and subsequently mEasured èt amoth5ed cost usine thc effective interost metliod. DerecGgnitlon offvnuncial litsbilities Financlal liabllitiÈ5 arp derecoBnlsed wlien tlie Cliaritls r.ontr3Ctual obligaknons expire or are d15charged or cancElled.
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2023 A£countin8 polities Icontinuedl 1.12 Employee benofits The cost of ony unused holiday Liiliiloinent is rocugiiised li) IliÈ period wliich t.he employee's service5 are recelv2d. Termin3ti0n benolits are recogni&Ld imrnediLitely [75 an eXpEns wlien tho Charity is demonstrably committed to teiminate the ÈmploymÈnt ol an employee or to providp terminic lion benelits. 1.13 RÈtirÈment benefits P3yments to delined tontribution retirement benelit scheme5 3re ch3rged as an expensÈ as they fall duÈ. Critical accounting estimates and judgoments In the applicarion of the Charity'5 accountinc ptrlities. the trustees arÈ rÈquired to make judgements, estimates and 75sumptions about the rarrying amount of a5set5 and Ilabililies that are not readlly apparent from other SDurces. The esDm3tps ancl associated assumpiion$ are based on hlstorical experience and other factors that arÈ considered to be relant. Actu31 rÈsults may differ from these estimatÈs. The estimates and underlyine assumption5 are reviewed on an gngoinE basls. Revision5 to accountinE esknm3tes are remEnlsed in the period in which the estimaie is revised where the revision affects Dnly that peri(O, or in the pÈriod of the revi51on and futurc perlods where the revlslon Bffects both curient and future PÈfiods. Key source5 of estirnation un¢ertainty The tstimBttsS Lind assumptions which havÈ a SlEniffcant rlsk of causSn8 a material adlustment to the carrying amount of Estimated useful lives of tangiblo tixed a5SQt5 In determining the estimated useful life the Socioiy coii%id?.r.% tho pxpected physical wear Éind iÈar of the asset that COld lead to Dbsoloscence ol the asset. Eacli year the tliarity rèviows the above to establish il ihere 15 any ch3nge in the expectod useful lilo of t&ngible a55olS. Grants and Donatitsns 2023 2022 SWA Training and EquipTnont Erant Gift aid NFU erant Community and grant doiiaii051S Old Mi15 Accountancy Dongted 5e¥vices Other DDnation5 1,500 I,G20 ?.,000 1,069 2,000 2,436 1,950 1,95D 382 7,452 7,457 io.
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 JUNE2023 club sub5crlptions 2023 2022 club 5ubscripbOnS 16,687 16,186 Fundraising Activities 2023 2022 3,000 14,D79 4,622 11,753 400 50 12,670 445 59 5,596 1,677 441 200 Car Club Quiz NiEht AGM Raffle Area Weekend Nightclub Incorne C&y Shoot Beacon night SWA Competition day Xmas market Tralfting incoine Dlnnor Dance 8,955 1,809 206 647 750 4,270 32,966 38,463 Fundiaisine Activities Investment5 2023 2022 Interest recelvable 224 656 li-
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS NOTE5 TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THEYEAR ENDED 30JUNE 2023 Charitable activitles 2023 2022 12ries and OrBaniser F@es DepcIation and impairmenr ?0,669 l58 1,463 1,363 11,172 ?.16 1.3 Afft112ti0ll to National Federbtion SWA Weekend Telephone Payroll and Admin Cost5 CRB Fees Tralning Dinner D3DcÈ 6,7n6 163 116 39 3,?_50 P051age, StationÈry ènd Sundry Expen5e5 Accountancy Fees Othce Rent, Light & Heat and Meeting Room Hire C12yStock Write Off Xmas Market Beacon Night 1,642 I,DOO 1,403 2, JL Iq 45¢) 200 loo 2,919 54.569 52,SSI Giant fundlnE olattivities Is&È note 81 Share OfgoVernan costs ISÈE note 91 598 221 950 950 56,117 53,722 Grdnts payable 2023 2022 Gont5 to insmtutions.. Alr Ambulance ThE Royal AEri¢uliural Benevolent In5ttion IttAtJii 41È 180 221 598 221 -12-
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THEYEAR ENDED 30JUNE 2023 support costs Support t05ts Governance COSt5 2023 2022 Independent Examiners, Fee5 950 95rJ 950 950 9SO Analysed bÈtwÈen Charitable activiues 950 950 Governance cost5 Include5 payments to the ex3miners 01 £950 12022..£9501 for independent examin3knon fees. In addition to these fees, Included in charitable expenses Bre lees pay3blo to the ex?tninÈr5 of El,00012D22.'EI,OQOI i respect of accountanty sÈrvices. 10 TrustÈes Nonè of the trustees lor any peT50ns connected with theml received ary remuneration or benefits frotn the Ch2rity duringthe ypar. Paul WiltshirÈ wa5 reimbursed for p8yroll costs totalling £nil12022-.£7501 during the yelr r. 11 Employees The average monthly number of Èmployees during the ye3fwrlS'. 2023 NLimber ZDZZ Nurnber Employment £05ts 2023 2L122 Wages and salaries Socia15ecurity costs Diher pÈi)sion costs 18,444 2,384 853 17,398 2,479 792 21,681 20,669 There wcre no employees whose annual muneration was morÈ thon E6D,000. 12 Tamario The ch3rity Is exempt frDm tDx on incomtr lind galn5 falling within Section 505 of the Taxe5Act 1988 Dr section 252 of the TaK¥tionDf Ch3rgeable 63inS Acl 199?. to the extent that tliese are applied to its charitsble oblect5. 13-
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 IUNE 2023 Tangible timed assets Cornputors Tot31 litknnE5 C05t At ijuly 2022 Addltions 1,791 63 1.544 3,335 63 At 30Jufie 2023 1,854 1,544 3,398 oepredation and Smpairment At lJul¥ 2022 Depr8cl3knon charged in the year 1,501 53 1,007 81 134 At 30June 2023 1,554 1,088 2,642 Carrying amount At 30 June 2023 300 456 756 At 30June 2022 290 537 827 14 Fixed asset InvÈstment5 Unllsted Investmcnts C05t or valuation Al l July 2022 Addltions 70,000 iO,O(K) At 30June 2023 80,000 Carrying amount At 30June 2023 BO,000 At 30 June 2D22 70,ODO 15 stocks 2023 2022 Finished goods and good5 for resale 75 89 -14.
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED JOJUNE ?023 Debtors Amounts falling due within one ye3r'. 2022 Subscrlpbon debtors 17 creditors.. amount5 falling due within one year 2D23 2021 Creditors 248 IB Re5trScted lunds The income funds of the charity include re5tricFed funds cJniprising tht lolloviinE unexper.ded balances Df donations and grants held on trust for spocific purposes.. Balance at l July 2022 Transfers Ba5ance at 30 June 2023 Club RÈserve Fvnd- Trowbridge Club Reserve Fund- Salisbiiry ?.019 Club Reserve Fund - Melksham 2019 CTWarÈham Beouest Fund 1?.,?13 242 12,713 842 7.882 1,026 7,882 1,026 22,463 22,463 Balance at l July 2021 Transfèrs 8alance at 30 June 2022 Prlor year 12,713 1,842 7,882 1,026 12.713 842 Club RÈseive Fund- Trowbridge Club Reserve Fund- Salisbury 2019 Club Reserye Fund- Melksh8m 2019 CT Wareham Bequest Fund 11,OODI 7,882 1,026 23.463 22,463 The Club Reserve Funds conslst of monles from disbanded clubs. The Club Reservè FuDds are Only available lor th& ie- opening of disbanded clubs Witliin sevell year5 01 such disbandrnent. The funds held lor clubs disbanded more than seven years ago are then transferred to uDre5tricted fund5. The CT Wareham Bequest Fund consists of monles bequested lor travel 5cholarship5. 15-
THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2023 19 Analysis of nÈt asset5 betweÈn funds Unrostricted funds 2023 Re5tricteiJ funds 2023 Total 2023 Fund balances at 30 June ?.023 are represli1ed bv.. T3Dglble assets InvÈ5tments cur1 as5etsllli3billtiesl 80.000 54,740 80,000 32,277 113,033 22,463 135,496 Unrestrictcd funds 2022 RestrictÈd funds 2022 Total 2022 Fund balances at 30 lune ?.022 are represEnttd by.. Tangible a5setS IwÈsttnents CuirÈnt assetsllliabllltiesl 827 70,000 40,994 827 70,000 63,457 22.463 111,821 22,463 134,284 20 Related party transactions There werÈ no disclosable related party traDs8ctiDns durlng the yetr12022- none). L6-