## **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
- 1.Society Structure
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
- •Distribute Show Schedules throughout the District
- •Support Exhibitors to compete at the Show
- •Boost local fund raising including Raffle Sales
•Encourage Attendance at the Show
- 2.Financial Aspect It is noted that the Show’s financial viability has suffered in recent years due to a number of factors: •Financial Downturn
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.
- 3.Membership Fee
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.
- To ascetrain the nature of the Society and to manage and safeguard its Assets
- To maintain clear and accurate financial records and accounts
- To act in the best intersts of the benficiaries
- To exercise a stabndard of care in the management 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:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
## **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:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
2. 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**|
|---|---|