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2024-06-30-accounts

Charity registration number 305607

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Paul Wiltshire Marian James Rob Burrough Charity number 305607 Principal address YFC Office Lackham College Lacock Chippenham Wiltshire SN15 2NY Independent examiner Old Mill Accountancy Limited Unit 2 Greenways Business Park Bellinger Close CHIPPENHAM Wiltshire England SN15 1BN

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of fnancial actvites 5
Balance sheet 6
Notes to the fnancial statements 7 - 18

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2024

The trustees present their annual report and financial statements for the year ended 30 June 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The Wiltshire County Federation of Young Farmer's Clubs was constituted by constitution and is a registered charity (registration number 305607). The charity was established to advance the education of young members of the public at large in agriculture, home crafts, country life and related subjects. It runs educational activities including Skills For Life (Curve modules) programme and an Annual Rally is held where all members are encouraged to enter competitions. The Charity also holds events such as sports matches, quizzes and annual dances. These events are all run by the members.

In the interests of the social welfare of such members of the public 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.

The address of the charity is YFC Office, Lackham College, Lacock, Chippenham, Wiltshire, SN15 2NY.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

The grant making policy is to support members of the Wiltshire Federation of Young Farmers Clubs.

Achievements and performance

Another consistent year. Membership held at 272 members. For such a small County we have achieved some well-deserved finishes at National Finals over the year – 1st in Senior National Floral Art, 13th in Intermediate Floral Art, 17th In Junior Floral Art & 6th in the Farm Safety competition 1st in Pig and 3rd in Beef Live and Carcass.

We started the year by appointing an Assistant Organiser, who has been a great help in keeping the County enthused and motivated.

Members have enjoyed a variety of County meetings, alongside their own Club meetings, including Ice skating in Bath; Our Christmas Fair at the end of November, which included some of our members selling their own wares; Carol singing at Salisbury Market with the RABI; Farm Safety training; learning to lay a Hedge; and much more. As we l as several sports evenings in readiness for Area rounds.

We held 95 Rally competitions included our Speaking comps, Stockjudging, cookery & floral art, all culminating at our County Rally in April.

Members also competed at South West Area in Public Speaking, Choir & Dancing, With us hosting the South West Area rounds for Stockjudging, Farm safety, Auctioneering and Tug of War. With members now through to National Finals in July & September. Our junior members looking forward to the SWA Junior Residential in Shropshire in August.

Financial review

During the period under review, net income totalled £63,913 (2023:£57,329). This consisted of subscriptions £18,365 (2023: £16,687), grants and donations £12,428 (2023:£7,452), interest £2,369 (2023:£224) and fundraising £30,751 (2023:£32,966).

The trustees report that the current financial position remains sound.

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

The trustees continue to be of the view, as recommended by the Charity Commission, that they should maintain an appropriate level of free reserves (i.e. unrestricted funds not tied up in the charitable fixed assets). The trustees have decided that the free reserves should equate to at least 50% of its annual expenditure, in order to ensure the continuity of operations in case of unforeseen events.

As at 30 June 2024 the level of free reserves was £20,553 (2023:£32,277), equivalent to 4 months (2023:7) of recurring expenditure.

The trustees are comfortable that the current level of free reserves are appropriate to the charity's circumstances at present. The trustees continue to review the level of free reserves each year.

The trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

A trustee sits on the executive committee and finance in general purposes committee to advise and guide throughout the year.

Investments are made in a fixed term account within Lloyds Banking Group.

Plans for future periods

The current County Organiser will be retiring from post after 19 years and taking on a Treasurers roll.

The Assistant Organiser will carry on in the Organising role to take the County into the new era.

Continue fundraising to cover expected costs and deficits to ensure that the Charity can function.

Structure, governance and management

Members aged between 10 & 28 years old make up the Clubs, guided by Leaders and an Advisory Committee. All Clubs are affiliated to a County. Each County is affiliated to the National Federation of Young Farmers Clubs.

The charity is governed by the county constitution first adopted in 1972 and last updated on 27 September 2021 and adopted at the Annual General Meeting.

The trustees who served during the year and up to the date of signature of the financial statements were: Paul Wiltshire Marian James Rob Burrough

Trustees are appointed by election at the Annual General Meeting.

Trustees attend County meetings and are fully informed and aware of the counties activities. They advise the members on their responsibilities, so that the County is run well and is financially solvent, with funds being used for the purpose for which they are given and in accordance with Charity regulations. Trustees sit on the staff management committee to advise on employment and other legislation matters. They also advise on safeguarding the best interests of the members and the Charity. Our trustees have control of the Charity savings and invest them where they will be of benefit to the Charity. They discuss and report on the investments at the finance and general purposes committee meetings.

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the Board of Trustees.

.............................. Rob Burrough

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 trustees on my examination of the financial statements of The Wiltshire County Federation of Young Farmers' Clubs (the Charity) for the year ended 30 June 2024.

Responsibilities and basis of report

As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

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

Independent examiner's statement

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

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 financial statements to be reached.

Rachel Wills, FCA Old Mill Accountancy Limited

Unit 2 Greenways Business Park Bellinger Close CHIPPENHAM Wiltshire SN15 1BN England

Dated: .........................

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Grants and Donatons
3
12,428
-
Club Subscriptons
4
18,365
-
Fundraising Actvites
5
30,751
-
Investments
6
2,369
-
Total income
63,913
-
Expenditure on:
Charitable actvites
7
58,298
650
Net incoming/(outgoing) resources before transfers
5,615
(650)
Transfer in/(out) of funds
-
(842)
Net income/(expenditure) for the year/
Net movement in funds
5,615
(1,492)
Fund balances at 1 July 2023
113,033
22,463
Fund balances at 30 June 2024
118,648
20,971		 Total
2024
£
12,428
18,365
30,751
2,369
63,913
58,948
4,965
(842)
4,123
135,496
139,619		 Total
2023
£
7,452
16,687
32,966
224
57,329
56,117
1,212
-
1,212
134,284
135,496

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Transfer of funds represents funds returned to previously disbanded clubs which have restarted.

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

BALANCE SHEET

AS AT 30 JUNE 2024

Notes
Fixed assets
Tangible assets
13
Investments
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one year
17
Net current assets
Total assets less current liabilites
Net assets excluding pension liability
The funds of the Charity
Restricted income funds
18
Unrestricted funds		 2024
£
159
25,402
21,033
46,594
(70)		 £
729
92,366
93,095
46,524
139,619
139,619
20,971
118,648
139,619		 2023
£
75
18,241
36,424
54,740
-		 £
756
80,000
80,756
54,740
135,496
135,496
22,463
113,033
135,496

The financial statements were approved by the trustees on .........................

.............................. Rob Burrough Trustee

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

Charity information

The Wiltshire County Federation of Young Farmers' Cubs is constituted by the counties constitution and is a registered charity (registration number 305607). The Charity was established to advance the education of young members of the public at large in agriculture, home crafts, country life and related subjects. It runs educational activities including skills for life (Curve modules) programme and an annual rally is held where all members are encouraged to enter competitions. The charity also holds events such as sports matches, quizzes and annual dances. These events are all run by the members for the members. The principal office address of the charity is YFC Office, Lackham College, Lacock, Chippenham, Wiltshire, SN15 2NY.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Donated services or facilities which comprise donated services are included in income at a valuation which is an estimate of the financial cost borne by the donor where such cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party.

Interest is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or repayable by the bank.

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probably that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 15% reducing balance Computers 15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are measured at cost. Investments include money held in fixed term bonds.

1.8 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/(expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the 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 would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Estimated useful lives of tangible fixed assets

In determining the estimated useful life the Society considers the expected physical wear and tear of the asset that could lead to obsolescence of the asset. Each year the charity reviews the above to establish if there is any change in the expected useful life of tangible assets.

3 Grants and Donations

SWA Training and Equipment grant
Gif aid
NFU grant
Old Mill Accountancy Donated Services
Other Donatons and Legacies		 2024
£
1,500
1,662
2,000
1,950
5,316
12,428		 2023
£
1,500
1,620
2,000
1,950
382
7,452

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

4
Club Subscriptons
Club Subscriptons
5
Fundraising Actvites
200 Car Club
Rally
Area Weekend
Nightclub income
Clay Shoot
AGM Party
SWA Competton day
Xmas market
Ties
Dinner Dance
Fundraising Actvites
6
Investments
Interest receivable		 2024
£
18,365		 2023
£
16,687
2024
£
2,539
14,073
9,640
-
246
724
2,694
745
90
-
30,751		 2023
£
3,000
14,079
8,955
1,809
206
-
-
647
-
4,270
32,966
2024
£
2,369		 2023
£
224

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

7 Charitable activities

Salaries and Organiser Fees
Depreciaton and impairment
Insurances
Afliaton to Natonal Federaton
SWA Weekend and Day
Telephone
200 Car Club
CRB Fees
Training
Dinner Dance
Rally
Postage, Statonery and Sundry Expenses
Accountancy Fees
Ofce Rent, Light & Heat and Meetng Room Hire
Clay Shoot and Ties
Xmas Market
AGM Party
Grant funding of actvites (see note 8)
Share of governance costs (see note 9)
Analysis by fund
Unrestricted funds
Restricted funds		 2024
£
26,256
129
2,422
7,280
8,442
154
198
60
-
-
6,497
1,755
1,000
1,206
350
72
950
56,771
1,227
950
58,948
58,298
650
58,948		 2023
£
21,681
134
2,176
6,706
9,236
163
-
116
339
3,250
6,523
1,642
1,000
1,403
-
200
-
54,569
598
950
56,117
56,117
-
56,117

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

8 Grants payable

Grants to insttutons:
Air Ambulance
The Royal Agricultural Benevolent Insttuton (RABI)
Grants to individuals		 2024
£
392
185
577
650
1,227		 2023
£
418
180
598
-
598

9 Support costs

Support costs
Governance
costs
£
£
Independent Examiners' Fees
-
950
-
950
Analysed between
Charitable actvites
-
950		 2024
£
950
950
950		 2023
£
950
950
950

Governance costs includes payments to the examiners of £950 (2023:£950) for independent examination fees. In addition to these fees, included in charitable expenses are fees payable to the examiners of £1,000 (2023:£1,000) in respect of accountancy services.

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year, and were not reimbursed any expenditure.

11 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
3 2

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

11
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Contnued)
2024
2023
£
£
23,947
18,444
1,465
2,384
844
853
26,256
21,681		 (Contnued)
2024
2023
£
£
23,947
18,444
1,465
2,384
844
853
26,256
21,681
21,681

There were no employees whose annual remuneration was more than £60,000.

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Tangible fixed assets

Fixtures and
ftngs
Computers
£
£
Cost
At 1 July 2023
1,854
1,544
Additons
-
102
At 30 June 2024
1,854
1,646
Depreciaton and impairment
At 1 July 2023
1,554
1,088
Depreciaton charged in the year
45
84
At 30 June 2024
1,599
1,172
Carrying amount
At 30 June 2024
255
474
At 30 June 2023
300
456		 Total
£
3,398
102
3,500
2,642
129
2,771
729
756

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

14 Fixed asset investments

Cost or valuaton
At 1 July 2023
Additons
At 30 June 2024
Carrying amount
At 30 June 2024
At 30 June 2023
15
Stocks
Finished goods and goods for resale
16
Debtors
Amounts falling due within one year:
Subscripton debtors
Other debtors
17
Creditors: amounts falling due within one year
Other creditors		 Unlisted
investments
£
80,000
12,366
92,366
92,366
80,000
2024
2023
£
£
159
75
2024
2023
£
£
20,402
18,241
5,000
-
25,402
18,241
2024
2023
£
£
70
-		 Unlisted
investments
£
80,000
12,366
92,366
92,366
80,000
2024
2023
£
£
159
75
2024
2023
£
£
20,402
18,241
5,000
-
25,402
18,241
2024
2023
£
£
70
-
92,366
92,366
80,000
2023
£
75
2023
£
18,241
-
18,241
2023
£
-

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

18 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at
1 July 2023 resources expended 30 June 2024
£ £ £ £ £
Club Reserve Fund - Trowbridge 12,713 - - - 12,713
Club Reserve Fund - Salisbury 2019 842 - - (842) -
Club Reserve Fund - Melksham 2019 7,882 - - - 7,882
C T Wareham Bequest Fund 1,026 - (650) - 376
22,463 - (650) (842) 20,971
Prior year Balance at Incoming Resources Transfers Balance at
1 July 2022 resources expended 30 June 2023
£ £ £ £ £
Club Reserve Fund - Trowbridge 12,713 - - - 12,713
Club Reserve Fund - Salisbury 2019 842 - - - 842
Club Reserve Fund - Melksham 2019 7,882 - - - 7,882
C T Wareham Bequest Fund 1,026 - - - 1,026
22,463 - - - 22,463

The Club Reserve Funds consist of monies from disbanded clubs. The Club Reserve Funds are only available for the reopening of disbanded clubs within seven years of such disbandment. The funds held for clubs disbanded more than seven years ago are then transferred to unrestricted funds.

The C T Wareham Bequest Fund consists of monies bequested for travel scholarships.

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 July 2023 Incoming Resources At 30 June 2024
resources expended
£ £ £ £
T White legacy fund - 5,000 - 5,000
General funds 113,033 58,913 (58,298) 113,648
113,033 63,913 (58,298) 118,648
Prior year At 1 July 2022 Incoming Resources At 30 June 2023
resources expended
£ £ £ £
General funds 111,821 57,329 (56,117) 113,033

T White legacy fund has been designated by the trustees to purchase a trophy, in his memory, as an overall dairy stockjudging trophy, and to go towards training funds for members.

20 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2024
2024
£
£
Fund balances at 30 June 2024 are represented by:
Tangible assets
729
-
Investments
92,366
-
Current assets/(liabilites)
25,553
20,971
118,648
20,971
Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 30 June 2023 are represented by:
Tangible assets
756
-
Investments
80,000
-
Current assets/(liabilites)
32,277
22,463
113,033
22,463		 Total
2024
£
729
92,366
46,524
139,619
Total
2023
£
756
80,000
54,740
135,496

THE WILTSHIRE COUNTY FEDERATION OF YOUNG FARMERS' CLUBS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

21 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).