Charity registration number: 0502809
United Counties Agricultural and Hunters Society Annual Report and Financial Statements for the Year Ended 30 November 2021
LHP Chartered Certified Accountants Llys Deri Parc Pensarn Carmarthen SA31 2NF
United Counties Agricultural and Hunters Society
Contents
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Reference and Administrative Details 1
Trustees' Report 2
Independent examiner's report 3
Statement of financial activities 4
Balance Sheet 5
Notes to the financial statements 6 to 13
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The following page does not form part of the statutory financial statements:
Statement of financial activities per fund 14
United Counties Agricultural and Hunters Society Reference and Administrative Details
| Charity name | United Counties Agricultural and Hunters Society |
|---|---|
| Charity registration number | 0502809 |
| Principal office | The United Counties Showground |
| Nantyci | |
| Carmarthen | |
| Carmarthenshire | |
| SA33 5DR | |
| Registered office | The United Counties Showground |
| Nantyci | |
| Carmarthen | |
| Carmarthenshire | |
| SA33 5DR | |
| Trustees | Mr L S Davies, Chairman |
| Mr A Warlow | |
| Mr D R Lloyd | |
| Mr R L Evans | |
| Mr N Evans | |
| Mr R Evans | |
| Mr D Davies | |
| Mr R Thomas | |
| Mr C Evans | |
| Mrs S Thomas | |
| Mr T Wellings | |
| Bankers | NatWest Bank plc |
| Business Centre | |
| 2 Notts Square | |
| Carmarthen | |
| Carmarthenshire | |
| SA31 1PG | |
| Accountant | LHP |
| Llys Deri | |
| Parc Pensarn | |
| Carmarthen | |
| SA31 2NF |
Page 1
United Counties Agricultural and Hunters Society
Trustees' Report
The Charity Commission instructed the society that it required to reconstitute the trustees body and appoint a quorum of trustees and these include Roger Evans, Norman Evans, Alex Warlow, Sian Thomas, Robert Evans, Dai Davies, Tim Wellings and Lynn Davies as Chairman of the Society.
The sale of the agricultural land has been achieved over latter years to reduce the Society’s borrowings. This is in line with the Charity Commission’s requirements. All steps necessary under the guidance of the Charity Commission were dealt with, they have now closed the case and are satisfied with the way the Society is run. The only monies now remaining is to Mr Ellis Davies. After a meeting with Mr Ellis Davies and our Solicitor Mr Kevin Thomas both parties agreed the amount of £1160.00 repayment per month over a 10 year period was accepted.
Since early 2020 no events have been held on the Showground because of Covid-19. At the beginning of 2020 we were approached by the NHS to see whether the Society would allow them to have use of the site as a Testing and Vaccinating Centre for this area. We accepted and a Lease Agreement was drawn up for this purpose bringing a rental of £72,000 per annum. This Lease has been made until the 31 March 2022. The oncoming contract between Towy Events and the Society was being dealt with to satisfactoriness agreement as no events where to take place during the pandemic. Hopefully after this date events can be arranged again for the remainder of the year. This of course is dependent on the position of the Pandemic in the country at the time. We were fortunate to take advantage of the Furlough Scheme which enabled us to keep our Show Administrator and also a selection of grants that were available from the Welsh Office and various other organisations.
Financially I feel that the Executive Board took the right decision and that this was the only option to us. We have seen a surplus in the financial year of 2019/ 2021 and this is the first time for many years.
I must thank all officers for their continued hard work as well as our accountancy, LHP and the service provided by the NatWest Bank. This ensures that the Society continues to operate in accordance with its governance documents.
Approved by the Trustees on 15 November 2022 and signed on their behalf by:
.........................................
Mr L S Davies Trustee
Page 2
Independent Examiner's Report to the Trustees of
United Counties Agricultural and Hunters Society
I report on the accounts of the Trust for the year ended 30 November 2021, which are set out on pages 4 to 13.
Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011(the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the 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 you as 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 my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
......................................... Mr D A Rees LHP Chartered Certified Accountants Date:................................
Llys Deri Parc Pensarn Carmarthen SA31 2NF
Page 3
United Counties Agricultural and Hunters Society
Statement of Financial Activities for the Year Ended 30 November 2021
| Note Incoming resources Incoming resources from generated funds Voluntary income 2 Incoming resources from charitable activities 4 Other incoming resources 5 Total incoming resources Resources expended Costs of generating funds Costs of generating voluntary income 6 Charitable activities 6 Governance costs 6 Total resources expended Net movements in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds £ 1,849 168,622 40,923 211,394 - 90,661 14,643 105,304 106,090 1,134,939 1,241,029 |
Total Funds 2021 £ 1,849 168,622 40,923 211,394 - 90,661 14,643 105,304 106,090 1,134,939 1,241,029 |
Total Funds 2020 £ 6,802 40,276 35,486 |
|---|---|---|---|
| 82,564 | |||
| 280 62,881 15,437 |
|||
| 78,598 | |||
| 3,966 1,130,973 |
|||
| 1,134,939 |
All incoming resources and resources expended derive from continuing activities.
The charity has no recognised gains or losses for the year other than the results above.
The notes on pages 6 to 13 form an integral part of these financial statements.
Page 4
United Counties Agricultural and Hunters Society
Balance Sheet as at 30 November 2021
| Note Fixed assets Tangible assets 10 Current assets Stocks and work in progress Debtors 11 Investments 12 Cash at bank and in hand Creditors: Amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 14 Net assets The funds of the charity: Unrestricted funds Other reserves Unrestricted income funds Total unrestricted funds Total charity funds |
2021 £ £ 1,145,308 2,125 147,240 402 69,292 219,059 (34,318) 184,741 1,330,049 (89,020) 1,241,029 345,045 895,984 1,241,029 1,241,029 |
2020 £ £ 1,155,557 2,125 26,369 402 84,099 112,995 (30,593) 82,402 1,237,959 (103,020) 1,134,939 345,045 789,894 1,134,939 1,134,939 |
2020 £ £ 1,155,557 2,125 26,369 402 84,099 112,995 (30,593) 82,402 1,237,959 (103,020) 1,134,939 345,045 789,894 1,134,939 1,134,939 |
|---|---|---|---|
| 1,237,959 (103,020) |
|||
| 1,134,939 | |||
| 345,045 789,894 1,134,939 |
|||
| 1,134,939 |
Approved by the Board on 15 November 2022 and signed on its behalf by:
.........................................
Mr L S Davies Trustee
The notes on pages 6 to 13 form an integral part of these financial statements.
Page 5
United Counties Agricultural and Hunters Society
Notes to the Financial Statements for the Year Ended 30 November 2021
1 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP 2005)', issued in March 2005, applicable accounting standards and the Charities Act 2011.
Going concern
Fund accounting policy
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Further details of each fund are disclosed in note 16.
Incoming resources
Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
-
The donor specifies that the donation must only be used in future accounting periods; or
-
The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
Resources expended
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Costs of generating funds are the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
Irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Page 6
United Counties Agricultural and Hunters Society
Notes to the Financial Statements for the Year Ended 30 November 2021
......... continued
Fixed assets
Individual fixed assets costing £100 or more are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Freehold land No depreciation Improvements to property 2% straight line basis Plant & machinery 15% reducing balance basis
Stock
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.
Operating leases
Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term.
2 Voluntary income
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Unrestricted Total Funds Total Funds
Funds 2021 2020
£ £ £
Donations and legacies
Appeals and donations 1,849 1,849 6,802
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3 Grants receivable
UK Government grants
| Unrestricted | Total Funds | Total Funds |
|---|---|---|
| Funds | 2021 | 2020 |
| £ | £ | £ |
| 40,349 | 40,349 | 21,067 |
Page 7
United Counties Agricultural and Hunters Society
Notes to the Financial Statements for the Year Ended 30 November 2021
......... continued
4 Incoming resources from charitable activities
| Welsh Dairy Show Hire of Showground Facilities Hire of showground facilities |
Unrestricted Funds £ 168,622 168,622 |
Total Funds 2021 £ 168,622 168,622 |
Total Funds 2020 £ 40,276 |
|---|---|---|---|
| 40,276 |
- 5 Other incoming resources
| Other income UK Government grants Subscriptions Other income |
Unrestricted Funds £ 40,349 - 574 40,923 |
Total Funds 2021 £ 40,349 - 574 40,923 |
Total Funds 2020 £ 21,067 629 13,790 |
|---|---|---|---|
| 35,486 |
Page 8
United Counties Agricultural and Hunters Society
Notes to the Financial Statements for the Year Ended 30 November 2021
......... continued
6 Total resources expended
| Direct costs Show costs Employment costs Establishment costs Repairs and maintenance Office expenses Printing, posting and stationery Equipment hire Cleaning Advertising and promotion Independant examiner's fee Legal and professional costs Bank charges Depreciation of tangible fixed assets |
Welsh Dairy Show £ - 5,545 - - - - - - 708 - - - 1,307 7,560 |
Hire of Showground Facilities £ 35 5,545 31,509 13,885 4,052 419 3,536 5,459 1,250 - 8,337 132 8,942 83,101 |
Governance £ - 11,089 - - - - 884 - - 2,670 - - - 14,643 |
Total £ 35 22,179 31,509 13,885 4,052 419 4,420 5,459 1,958 2,670 8,337 132 10,249 |
|---|---|---|---|---|
| 105,304 |
7 Trustees' remuneration and expenses
During the year to 30th November 2021, no remuneration was paid to any of the Trustees.
8 Net incoming resources
Net incoming resources is stated after charging:
| Hire of plant and machinery - operating leases Depreciation of owned assets |
2021 £ 4,420 10,249 |
2020 £ 4,490 10,480 |
|---|---|---|
Page 9
United Counties Agricultural and Hunters Society
Notes to the Financial Statements for the Year Ended 30 November 2021
......... continued
9 Employees' remuneration
The aggregate payroll costs of these persons were as follows:
2021 2020 £ £ Wages and salaries 22,179 22,445
No employee received emoluments of more than £60,000 during the year (2020 - No. 0).
Page 10
United Counties Agricultural and Hunters Society
Notes to the Financial Statements for the Year Ended 30 November 2021
......... continued
10 Tangible fixed assets
| Freehold Land £ Cost As at 1 December 2020 and 30 November 2021 1,167,300 Depreciation As at 1 December 2020 56,432 Charge for the year 8,156 As at 30 November 2021 64,588 Net book value As at 30 November 2021 1,102,712 As at 30 November 2020 1,110,868 11 Debtors Trade debtors Other debtors Prepayments and accrued income 12 Current asset investments War Stock All current asset investments were held in the UK. |
Plant & Office Equipment £ 118,029 107,364 1,307 108,671 9,358 10,665 |
Buildings & Improvements to property £ 39,285 5,261 786 6,047 33,238 34,024 2021 £ 131,167 16,000 73 147,240 2021 £ 402 |
Total £ 1,324,614 169,057 10,249 179,306 1,145,308 1,155,557 2020 £ 25,599 - 770 |
|
|---|---|---|---|---|
| 26,369 | ||||
| 2020 £ 402 |
||||
Page 11
United Counties Agricultural and Hunters Society
Notes to the Financial Statements for the Year Ended 30 November 2021
......... continued
13 Creditors: Amounts falling due within one year
| Trade creditors Taxation and social security Other creditors Accruals and deferred income |
2021 £ 14,233 6,890 1,892 11,303 34,318 |
2020 £ 6,112 10,599 1,892 11,990 |
|---|---|---|
| 30,593 |
Creditors amounts falling due within one year includes deferred income:
| As at 1 December 2020 Amount deferred in the year As at 30 November 2021 |
2021 £ 6,219 (687) 5,532 |
2020 £ - 6,220 |
|---|---|---|
| 6,220 |
14 Creditors: Amounts falling due after more than one year
| Other creditors | 2021 £ 89,020 |
2020 £ 103,020 |
|---|---|---|
Page 12
United Counties Agricultural and Hunters Society
Notes to the Financial Statements for the Year Ended 30 November 2021
......... continued
15 Related parties
Controlling entity
The charity is controlled by the trustees.
Trustees' advances
At the year end the follwoing balance was owed to to Mr E Davies and family £89,020 (2020:£103,020)
16 Analysis of funds
| General Funds Unrestricted income fund |
At 1 December 2020 £ 1,134,939 |
Incoming resources £ 211,394 |
Resources expended £ (105,304) |
At 30 November 2021 £ 1,241,029 |
|---|---|---|---|---|
17 Net assets by fund
| Tangible assets Current assets Creditors: Amounts falling due within one year Creditors: Amounts falling due after more than one year Net assets |
Unrestricted Funds £ 1,145,308 219,059 (34,318) (89,020) 1,241,029 |
Total Funds 2021 £ 1,145,308 219,059 (34,318) (89,020) 1,241,029 |
Total Funds 2020 £ 1,155,557 112,995 (30,593) (103,020) |
|---|---|---|---|
| 1,134,939 |
Page 13
United Counties Agricultural and Hunters Society
Statement of financial activities by fund Year Ended 30 November 2021
| Incoming resources Incoming resources from generated funds Voluntary income Incoming resources from charitable activities Other incoming resources Total incoming resources Resources expended Costs of generating funds Costs of generating voluntary income Charitable activities Governance costs Total resources expended Net movements in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted income fund 2021 £ 1,849 168,622 40,923 211,394 - 90,661 14,643 105,304 106,090 1,134,939 1,241,029 |
Unrestricted income fund 2020 £ 6,802 40,276 35,486 |
|---|---|---|
| 82,564 | ||
| 280 62,881 15,437 |
||
| 78,598 | ||
| 3,966 1,130,973 |
||
| 1,134,939 |
This page does not form part of the statutory financial statements.
Page 14