**REGISTERED CHARITY NUMBER: 327030**
## REPORT OF THE TRUSTEES AND
## UNAUDITED FINANCIAL STATEMENTS
## FOR THE YEAR ENDED 31 DECEMBER 2020
## FOR
## COUNCIL FOR AWARDS OF ROYAL AGRICULTURAL SOCIETIES
Barretts
Chartered Accountants & Chartered Tax Advisers
22 Union Street Newton Abbot Devon TQ12 2JS
COUNCIL FOR AWARDS OF ROYAL AGRICULTURAL SOCIETIES
## CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2020
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|2|
|Independent Examiner's Report||3||
|Statement of Financial Activities||4||
|Balance Sheet||5||
|Notes to the Financial Statements|6|to|8|
|Detailed Statement of Financial Activities||9||
COUNCIL FOR AWARDS OF ROYAL AGRICULTURAL SOCIETIES
## REPORT OF THE TRUSTEES
## for the Year Ended 31 December 2020
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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**
## **Objectives and aims**
CARAS exists to recognise the outstanding contributions that individuals have given to agriculture by making peer reviewed awards of Associateship and Fellowships.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
Mr R Cooksley holds the position as Secretary and the council has met formal twice during the year and also conversed by email conducting the affairs of the organisation in a careful and proper manner. Council has been supported during the year by those sponsoring applicants and those who have diligently carried out the associated assessments. The moderator and his panel are key to the review of the applications and subsequent assessment which have been carried out according to the associated procedures in a timely and proper manner. All four National Panels are very active organising events, identifying potential recipients of awards and arranging the associated award ceremonies.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
CARAS is governed by a Constitution and a Council whose members include the trustees. The Trustees and Council members are elected at the AGM. New Trustees are made aware of the role and responsibility they hold.
The Trustees/Council have examined the strategic and operational risks which the charity faces and confirm that controls are in place with regular meetings and reports produced so the necessary steps can be taken to lessen these risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 327030
## **Principal address**
Portbury House Sheepway Portbury Bristol BS20 7TE
## **Trustees**
Prof J M Stansfield MBE W I C Davies Prof E Wynne Jones OBE C J Henning OBE Prof W A C McKelvey OBE
## **Independent Examiner**
Ian Barrett FCA, FCIE Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS
Page 1
COUNCIL FOR AWARDS OF ROYAL AGRICULTURAL SOCIETIES
## REPORT OF THE TRUSTEES
## for the Year Ended 31 December 2020
Approved by order of the board of trustees on 15 April 2021 and signed on its behalf by:
Prof E Wynne Jones OBE - Trustee
Page 2
## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COUNCIL FOR AWARDS OF ROYAL AGRICULTURAL SOCIETIES
## **Independent examiner's report to the trustees of Council for Awards of Royal Agricultural Societies**
I report to the charity trustees on my examination of the accounts of Council for Awards of Royal Agricultural Societies (the Trust) for the year ended 31 December 2020.
## **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 Act and in carrying out my examination I have followed all 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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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.
Ian Barrett FCA, FCIE Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS
23 August 2021
Page 3
COUNCIL FOR AWARDS OF ROYAL AGRICULTURAL SOCIETIES
## STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2020
|**2020**
**Unrestricted**
**fund**
Notes
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**-**
**Charitable activities**
Charitable expenditure
**85,398**
Investment income
2
**548**
**Total**
**85,946**
**EXPENDITURE ON**
**Charitable activities**
Charitable expenditure
**72,895**
**NET INCOME**
**13,051**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**133,154**
**TOTAL FUNDS CARRIED FORWARD**
**146,205**|2019
Total
funds
£
150|
|---|---|
|||
||78,090|
||603|
|||
||78,843|
|||
||74,053|
|||
||4,790|
||128,364|
|||
|||
||133,154|
|||
The notes form part of these financial statements
Page 4
COUNCIL FOR AWARDS OF ROYAL AGRICULTURAL SOCIETIES
## BALANCE SHEET
## 31 December 2020
|**2020**
**Unrestricted**
**fund**
Notes
**£**
**CURRENT ASSETS**
Stocks
6
**3,378**
Debtors
7
**23,357**
Investments
8
**76,846**
Cash at bank
**49,901**
**153,482**
**CREDITORS**
Amounts falling due within one year
9
**(7,277)**
**NET CURRENT ASSETS**
**146,205**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**146,205**
**NET ASSETS**
**146,205**
**FUNDS**
Unrestricted funds
**146,205**
**TOTAL FUNDS**
**146,205**|2019
Total
funds
£
3,741
22,553
76,296
40,537|
|---|---|
||143,127|
||(9,973)
133,154
133,154|
||133,154|
||133,154
133,154|
The financial statements were approved by the Board of Trustees and authorised for issue on 15 April 2021 and were signed on its behalf by:
E Wynne Jones OBE - Trustee
The notes form part of these financial statements
Page 5
COUNCIL FOR AWARDS OF ROYAL AGRICULTURAL SOCIETIES
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2020
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||**2020**|2019|
||**£**|£|
|Bank account interest|**548**|603|
||||
Page 6
continued...
COUNCIL FOR AWARDS OF ROYAL AGRICULTURAL SOCIETIES
## NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
|**Trustees' expenses**
**2020**
2019
**£**
£
Trustees' expenses
**270**
4,059
**4.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
150
**Charitable activities**
Charitable expenditure
78,090
Investment income
603
**Total**
78,843
**EXPENDITURE ON**
**Charitable activities**
Charitable expenditure
74,053
**NET INCOME**
4,790
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
128,364
**TOTAL FUNDS CARRIED FORWARD**
133,154
**5.**
**INDEPENDENT EXAMINER'S FEES**
**2020**
**2019**
Independent Examiner's fee
**780**
756
Examiner's Gift Aid assistance
**0**
30|**Trustees' expenses**
**2020**
2019
**£**
£
Trustees' expenses
**270**
4,059
**4.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
150
**Charitable activities**
Charitable expenditure
78,090
Investment income
603
**Total**
78,843
**EXPENDITURE ON**
**Charitable activities**
Charitable expenditure
74,053
**NET INCOME**
4,790
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
128,364
**TOTAL FUNDS CARRIED FORWARD**
133,154
**5.**
**INDEPENDENT EXAMINER'S FEES**
**2020**
**2019**
Independent Examiner's fee
**780**
756
Examiner's Gift Aid assistance
**0**
30|**Trustees' expenses**
**2020**
2019
**£**
£
Trustees' expenses
**270**
4,059
**4.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
150
**Charitable activities**
Charitable expenditure
78,090
Investment income
603
**Total**
78,843
**EXPENDITURE ON**
**Charitable activities**
Charitable expenditure
74,053
**NET INCOME**
4,790
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
128,364
**TOTAL FUNDS CARRIED FORWARD**
133,154
**5.**
**INDEPENDENT EXAMINER'S FEES**
**2020**
**2019**
Independent Examiner's fee
**780**
756
Examiner's Gift Aid assistance
**0**
30|
|---|---|---|
||||
|||78,090|
|||603|
||||
|||78,843|
||||
|||74,053|
||||
|||4,790|
|||128,364|
||||
||||
|||133,154|
||||
||||
||**2020**|**2019**|
||**780**|756|
||**0**|30|
continued...
Page 7
COUNCIL FOR AWARDS OF ROYAL AGRICULTURAL SOCIETIES
## NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020
|**6.**
**STOCKS**
Insignia stock
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments
Other debtors
The other debtors figure relates to outstanding Gift Aid claims for 2018 and 2019.
**8.**
**CURRENT ASSET INVESTMENTS**
N S & I Investment account
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**10.**
**RELATED PARTY DISCLOSURES**|**6.**
**STOCKS**
Insignia stock
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments
Other debtors
The other debtors figure relates to outstanding Gift Aid claims for 2018 and 2019.
**8.**
**CURRENT ASSET INVESTMENTS**
N S & I Investment account
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**10.**
**RELATED PARTY DISCLOSURES**|**2020**
**£**
**3,378**
**2020**
**£**
**545**
**22,812**
**23,357**
**2020**
**£**
**76,846**
**2020**
**£**
**7,277**||||
|---|---|---|---|---|---|
||||||2019
£|
||||||3,741|
|||||||
||||||2019
£|
||||||553|
|||||22,000||
|||||22,553||
|||||||
|||||2019
£||
|||||76,296||
|||||||
|||||||
||||||2019
£|
||||||9,973|
|||||||
|||||||
There were no related party transactions for the year ended 31 December 2020.
Page 8
COUNCIL FOR AWARDS OF ROYAL AGRICULTURAL SOCIETIES
## DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2020
|DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 December 2020|||
|---|---|---|
||2020|2019|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|**-**|150|
|**Investment income**|||
|Bank account interest|**548**|603|
|**Charitable activities**|||
|Members fees|**70,569**|60,819|
|Tax recovered on Gift Aid|**10,074**|11,243|
|Candidature fees|**4,630**|4,600|
|Sale of insignia|**125**|1,428|
||**85,398**|78,090|
|**Total incoming resources**|**85,946**|78,843|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Council representative's exp|**270**|4,059|
|Insurance|**943**|976|
|Insignia expenses|**363**|1,046|
|Assessors expenses|**334**|1,101|
|Subvention to National Panels|**42,341**|36,600|
|Secretary's fees|**19,536**|19,536|
|Secretary's expenses|**-**|954|
|Printing|**1,489**|2,825|
|Postage|**1,960**|1,465|
|Stationery|**628**|1,715|
|Telephone|**1,728**|1,728|
|Miscellaneous|**89**|564|
|Networking - CARAS website|**2,434**|647|
|Examiner's Gift Aid work|**-**|30|
||**72,115**|73,246|
|**Support costs**|||
|**Finance**|||
|Independent Examiner's fee|**780**|792|
|Bank charges|**-**|15|
||**780**|807|
|Total resources expended|**72,895**|74,053|
|**Net income**|**13,051**|4,790|
||||
This page does not form part of the statutory financial statements
Page 9