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**
**----- Start of picture text -----**
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
**----- End of picture text -----**
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**
**----- Start of picture text -----**
Unrestricted Total Funds Total Funds
Funds 2021 2020
£ £ £
Donations and legacies
Appeals and donations 1,849 1,849 6,802
**----- End of picture text -----**
## **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