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2023-12-31-accounts

CYMDEITHAS AMAETHYDDOL MEIRION CYF

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2023

Co No. 11893027

Harold Smith Chartered Accountants Criccieth

CYMDEITHAS AMAETHYDDOL MEIRION CYF

CHARITY INFORMATION

YEAR ENDED 31 DECEMBER 2023

Cymdeithas Amaethyddol Meirion Cyf is a Registered Charity governed by a Memorandum & Articles of Association dated 24 June 1998.

Registered Office: Cymdeithas Amaeth Meirionydd Cyf
Nant y Glyn
Lôn Ednyfed
Criccieth
Gwynedd
LL52 0LD
Charity Registration Number: 500759
Company Registration Number: 11893027
Directors;
Secretary Mr E Douglas Powell
Directors Mr R Dewi Owen
Mr Edward Hedd Pugh
Mr Arwel Roberts
Mr Trefor Hughes
Mr Huw Lloyd
Independent Examiner: Harold Smith
Chartered Accountants
29 High Street
CRICCIETH
Gwynedd, LL52 0BS
Bankers: HSBC Bank Plc
CONTENTS
Contents and Information Page 1
Directors' Report Page 2
Independent Examiner's Report Page 3
Statement of Financial Activities Page 4
Balance Sheet Page 5
Notes to the Accounts Pages 6-10

TRUSTEES’ REPORT

The Trustees present their report and the accounts of the charity for the Year ended 31 December 2023.

OBJECTIVES OF THE CHARITY AND ITS PRINCIPAL ACTIVITIES

The objectives of the Society are to promote Agriculture by holding an annual Agriculture Show in the former County of Merioneth for the exhibition of farming stock, implements and produce, with a view to improving the breeding of livestock and promoting the adoption of improved methods of farming.

REVIEW OF THE YEAR

Recommendations to the Management Committee

The Society Structure currently in place is proving effective and the Role of the five District Committees should be strengthened to support County Show Host Committee by promoting the County Show in their respective Districts. •Promote Membership of the Society

•Encourage Attendance at the Show

The Committee of Show Management supported by the Section Committees should make an extra effort to increase all aspects the Show’s Income to improve financial viability.

Review to Society’s Annual Membership Subscription in line with the Show Admission Fee and to support the Society’s objectives.

FINANCIAL REVIEW

The Board noted the overall deficit in the Society's Annual year end Accounts and concluded with a number of reasons for the overall deficits.

RESERVES POLICY

The Board reported on the Society's Fixed and Current Assets and is continually seeking to safeguard their overall value subject to the overall resulting Operational Activities and also the performance its Investments.

FUTURE FUNDING OF THE COMPANY

The Society will continue to maintain the level of membership and where possible seek to increase the number of members thus increasing the income base together with monitoring the level of expenditure incurred in staging the annual show and seek to secure income in excess of the budget cost.

TANGIBLE FIXED ASSETS

The Society's Fixed assets are listed together with their depreciated value as at the year end.

RESPONSIBILITIES OF TRUSTEES

A Trustee is a person formally appointed to manage the assets of the Society for the benefit of the beneficiaries in accordance with the objectives of the Society.

Trustees should exercise the utmost caution in fullfilling the duties imposed on them, whether by operation of law or by specific terms of the Memorandum of Articles. Care should be taken to review and understand the relevant trust instrument and the fiduciary duties imposedby law and specialist advice should be sought where appropriate.

Approved by the Board on the ….............................. and signed on their behalf by;

E Douglas Powell

………………………… E Douglas Powell

CHARITY SECRETARY

INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF CYMDEITHAS AMAETHYDDOL MEIRION CYF

We report on the accounts of the charity for the year ended 31 December 2023 which comprise the statement of financial activities and Balance Sheet and the related notes. Respective responsibilities of trustees and examiner;

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is our reponsibility to:

Basis of independent examiner’s statement

Our examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair' view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to our attention

  1. which gives us reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or

  4. to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

................................................... Dated …………………............ Simon Murray-Williams FCA for and on behalf of Harold Smith Chartered Accountants St. Asaph Business Park Denbighshire LL17 0JA

CYMDEITHAS AMAETHYDDOL MEIRION CYF

STATEMENT OF FINANCIAL ACTIVITIES

Summary Income and Expenditure Account

YEAR ENDED 31 DECEMBER 2023

Incoming Resources
Note
Incoming resources from generated funds:
Direct Charitable Income
2
Income from Investments
2
Grants Received
2
Total Incoming Resources
Resources Expended
Charitable activities:
Direct charitable expenditure
3
Grants expenditure
3
Depreciation
7
Governance costs
5
Total Resources Expended
Net Movement in Funds
Balances brought forward at 01 January 2023
Balances carried forward at 31 December 2023		 Total
Total
Unrestricted
Restricted
Funds
Funds
Funds
Funds
31 12 2023
31 12 2022
£
£
£
£
85,368
85,368
69,658
6,351
6,351
(20,255)
-
-
8,700
91,719
-
91,719
58,103
89,323
89,323
78,267
2,165
1,962
1,962
2,102
876
876
-
92,161
-
92,161
82,534
(442)
-
(442)
(24,431)
115,963
6,536
122,499
146,929
115,521
6,536
122,057
122,499

Movements on reserves and all recognised gains and losses are shown above.

The notes on pages 6-10 form part of these Accounts.

CYMDEITHAS AMAETHYDDOL MEIRION CYF

BALANCE SHEET AS AT 31 DECEMBER 2023

Note
FIXED ASSETS
Tangible Fixed Assets
7
CURRENT ASSETS
Debtors
8
Bank and cash balances inc Premium Bonds
14
CURRENT LIABILITIES
Liabilities falling due within one year
9
Net Current Assets
LIABILITIES DUE AFTER 1 YEAR
10
NET ASSETS
FUND BALANCES
Unrestricted Funds
Movement
Restricted Funds
Movement		 Total
Total
Unrestricted
Restricted
Funds
Funds
Funds
Funds
31 12 2023
32 12 2022
£
£
£
£
12,237
-
12,237
14,199
12,237
-
12,237
14,199
3,751
-
3,751
-
113,475
-
113,475
119,948
117,226
-
117,226
119,948
7,406
7,406
7,148
122,057
122,057
126,998
-
-
-
-
-
-
-
-
122,057
-
122,057
126,998
115,963
115,963
146,929
442
-
442
-
30,966
-
6,536
6,536
-
-
-
6,536
115,521
6,536
122,057
122,499

For the year ended 31 December 2023 the company was entitled to exemption from audit under Section

477 of the Companies Act 2006 relating to small companies.

Responsibilities of Directors/Trustees:

a. The members have not required the charitable company to obtain an audit of its Accounts for the year in question with Section 476 of the Companies Account.

b. The Directors/Trustees acknowledge their responsibilities for complying with the requirments of the Companies Act with respect to accounting records and the preparation of Accounts.

These Accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on the ____ and signed on their behalf by;

Charity Number: 500759

The notes on pages 6-10 form part of these Accounts.

CYMDEITHAS AMAETHYDDOL MEIRION CYF

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2023

1 ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Meirioneth Agricultural Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The trustees have a reasonable expectation that the charity has adequate resourses to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Reconciliation with previous Generally Accepted Accounting Practice

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 AND THE Charities SORP FRS 102 the restatement of comparative items was required. The trustees have reviewed the transactions and have determined that no amendment to the comparative figures is required, other than a presentational amendment.

a)[Donated and Grant Income] :

Donated income and grants receivable are taken into account when received by the charity. Income received in circumstances where a claim for repayment of tax has been or will be made to HM Revenue & Customs is grossed up for the tax recoverable. Any amount of tax reclaimed from HM Revenue & Customs but not yet received is shown within the charity's debtors.

b)[Other Income and Expenditure] :

Investment income is taken into account when receivable and expenditure, including irrecoverable VAT, when incurred by the charity, regardless of when payment is made. Grants payable are taken into account at the earlier of when they are paid or become constructive obligations.

c) Funds:

Unrestricted funds are donations and other income received or generated for the objects of the charity without specified purpose and are available for purposes as directed by the Trustees. Restricted funds are amounts received where the donor has specified the purpose for which it should be used.

CYMDEITHAS AMAETHYDDOL MEIRION CYF

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2023

d) Fixed Assets and Depreciation:

Fixed Assets acquired for use by the charity are capitalised and depreciated over their estimated useful life unless they are of low value when they are written off on purchase.

Assets are depreciated on the straight line basis at the following rates:

Storage Building 5%
Show Equipment; Metal 10%
Wood 20%
Cups & Trophies 10%
Office/Sec Equipment 33%
Printing Equipment 20%

e) Taxation

The company is a registered charity and is exempt from taxation under the Income & Corporation Taxes Acts.

f) Cash Flow Statement

The company has taken advantage of the exemption provided by the Financial Reporting Standard and has not prepared a Cash Flow Statement for the year.

CYMDEITHAS AMAETHYDDOL MEIRION CYF

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2023

2 INCOME

Membership B.O.
Membership Cash
Raffle Sales
Entry Fees
Trade Stands
Sole Rights
Dog Catalogues
Gate Receipts
Special Prizes
Donations
Sponsorship
Sale of Straw
Grants Received
Interest from Money Market + Bank
Increase/Decrease in Value Charinco
Hire of Show Equipment & Sale of Straw
Written In
Rosettes in Stock at Year End		 Total
General
Restricted
Investment
Society
31 12 2023
£
£
£
£
£
4,742
4,742
120
120
3,371
3,371
8,192
8,192
19,163
19,163
5,000
5,000
-
-
34,867
34,867
600
600
1,100
1,100
4,290
4,290
866
866
-
-
25
25
6,326
6,326
350
350
1,707
1,707
1,000
1,000
85,368
-
6,351
-
91,719		 Total
31 12 2022
£
5,180
130
2,540
7,860
15,785
4,500
250
28,663
600
650
3,150
8,700
-
20,255
-
350
-
-
58,102

3

DIRECT CHARITABLE EXPENDITURE

DIRECT CHARITABLE EXPENDITURE
Total Total
General Restricted 31 12 2023 31 12 2022
£ £ £ £ £ £
Advertising 1,509 1,509 668
Attractions - -
450
Courses 600 600 500
Dog Expenses 689 689 440
Affiliation Fees 520 520 569
First Aid 1,200 1,200 1,200
Horticultural Expenses 132 132 139
Insurance 2,247 2,247 2,207
Judges 925 925 876
Lunches 2,134 2,134 1,994
Light & Heat 288 288
Medals 81 81 147
Printing, Rosettes, Badges 7,885 7,885 6,290
Postage 3,642 3,642 2,514
Prize Money 7,570 7,570 7,789
Public Address System 2,268 2,268 2,010
Room Hire 461 461 -
Secretarial/Admin Services 10,500 10,500 10,500
Secreterial Expenses/Travel 1,530 1,530 2,360
Showground 3,400 3,400 9,000
Stewards - Gate/Car Park 1,000 1,000 950

----- Start of picture text -----
||||| |---|---|---|---| |Stationary|181|181|414| |Sundries|122|122|130| |Society AGM|-|-|22| |Shuttle Bus Service|350|350| |Straw|1,290|1,290| |Telephone|250|250|250| |Tents & Marquess|23,592|23,592|14,688| |Toilets|3,402|3,402|3,000| |Traffic Control|1,848|1,848|1,848| |Website|879|879| |Bank Charges|475|475|460| |Card Charges|-|-|140| |Health & Safety Training|207|207| |Society Office Rent|5,000|5,000|5,000| |MAS Society Secretary|2,500|2,500|2,500| |Storage Building - Ground Rent|500|500|500| |Professional fees|1,022|1,022|876| |Depreciation|1,962|1,962|2,102| |92,161|92,161|82,534|

----- End of picture text -----

4 GRANTS PAYABLE

GOVERNANCE

Harold Smith Partnership

----- Start of picture text -----
||| |---|---| |Total|Total| |31 12 2023|31 12 2022| |£|£| |Total|Total| |31 12 2023|31 12 2022| |£|£| |876|876|

----- End of picture text -----

5

CYMDEITHAS AMAETHYDDOL MEIRION CYF

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2023

7 TANGIBLE FIXED ASSETS

Cost:
At 1 January 2023
Disposals in the year
Additions in the year
At 31 December 2023
Accumulated Depreciation
At 1 January 2023
Charge in the year
At 31 December 2023
Net book value:
At 31 December 2023
At 31 December 2022		 £
£
£
£
£
£
3,218
6,815
1,879
2,000
506
1,883
-
-
-
-
-
-
-
-
-
-
-
-
3,218
6,815
1,879
2,000
506
1,883
-
-
-
-
-
-
161
682
376
200
167
377
2,888
5,377
1,126
1,760
136
951
3,048
6,058
1,502
1,960
303
1,328
Printing
Equipment
Storage
Building
Show
Equipment;
Metal
Show
Equipment;
Wood
Cups &
Trophies
Office/Sec
Equipment		 Total
£
16,301
-
-
16,301
-
1,962
12,237
14,199
DEBTORS
Trade Debtors
CREDITORS - LIABILITIES FALLING DUE WITHIN ONE YEAR
Creditors and Accruals
CREDITORS - LIABILITIES FALLING DUE AFTER ONE YEAR
Interest free Loans
Interest bearing Loan (*)		 Total
Total
31 12 2023
31 12 2022
£
£
3,751
700
3,751
700
Total
Total
31 12 2023
31 12 2022
£
£
5,595
6,625
5,595
6,625
Total
Total
31 12 2023
31 12 2022
£
£
-
-
-
-
-
-

8 DEBTORS

9 CREDITORS - LIABILITIES FALLING DUE WITHIN ONE YEAR

10 CREDITORS - LIABILITIES FALLING DUE AFTER ONE YEAR

CYMDEITHAS AMAETHYDDOL MEIRION CYF

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2023

11 RESTRICTED FUNDS

The restricted funds represent amounts received for specific purposes and the movements in year are as follows:

Unrestricted Funds
Restricted Funds		 £
£
£
£
115,963
91,719
92,161
-
-
6,535
-
-
-
122,499
91,719
92,161
-
-
Opening
Balance
Incoming
Resources
Outgoing
Resources
Transfers in
the year		 £
115,521
6,535
122,057
Closing
Balance

12 RELATED PARTY TRANSACTIONS

Other than the above no amounts were paid or are payable to any trustee or to any person connected to them other than reimbursement of expenditure incurred on behalf of the Trust.

13 MEMBERS

Each member of the charity undertakes to contribute if the charity is wound up an amount not exceeding £10.

14 BANK & INVESTMENTS

HSBC Business Bank Account - Cam Cyf
HSBC Commercial Card Account
Charinco Value 31 Dec
HSBC Business Bank Account - MAS
Premium Bond		 Total
Total
31 12 2023
31 12 2022
£
£
3,200
8,987
465
9
106,758
100,432
2,526
10,020
525
500
113,475
119,948