REGISTERED CHARITY NUMBER: 0502809
United Counties Agricultural and Hunters Society
Annual Report and Financial Statements for the Year Ended 30 November 2022
HB Enoch & Owen Ltd
Chartered Accountants and Chartered Tax Advisers
1 Spilman St
Carmarthen
SA31 1LE
United Counties Agricultural and Hunters Society
Contents of the Financial Statements for the Year Ended 30 November 2022
| Page | |
|---|---|
| Reference and Administrative Details | 3 |
| Report of the Trustees | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 15 |
United Counties Agricultural and Hunters Society
Reference and Administrative Details For the Year Ended 30 November 2022
United Counties Agricultural and Hunters Society
Charity name 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 Mrs S Thomas Mr T Wellings Independent Examiner D L Owen FCA CTA HB Enoch & Owen Ltd 1 Spilman St Carmarthen SA31 1LE
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United Counties Agricultural and Hunters Society
Report of the Trustees For the Year Ended 30 November 2022
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, D Lloyd 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 £1,160.00 repayment per month over a 10 year period was acceptable.
At the beginning of 2020, a lease agreement for the rate of £72,000 per annum was drawn up with the NHS allowing them to use the site as a Covid-19 Testing and Vaccinating Centre for the area. This lease was made until 31st March 2022. Now that the pandemic has been deemed largely under control, social distancing and trading restrictions have been recinded allowing for events to be arranged. We were fortunate to take advantage of Covid-19 related government grants in the prior financial year, with the final, and only grant for this financial year, to the value of £5,000, being received February 2022.
We have now seen a surplus for the second financial year running. For that I wish to thank all officers for their continued hard work.
Approved by the Trustees on ….......................................... and signed on their behalf by:
…............................................... Mr L S Davies Trustee
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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 2022, which are set out on pages 6 to 15
Respective responsibilities of trustees and examiners
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(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
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Examine the accounts under Section 145 of the 2011 Act
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To follow the procedures laid down in the General Directions given by the Charity
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- Commission (under Section 145(5)(b) of the 2011 Act); and
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To state whether particular matters have come to my attention.
Basis of the independent examiners 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 statements below.
Independent examiners statement
In connection with my examination, no matter has come to my attention:
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Which gives us reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 130 of the Act; and
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to prepare accounts which accord with the accounting records and comply with the
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- accounting requirements of the 2011 Act. Have not been met; or
To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
D L Owen FCA CTA HB Enoch & Owen Ltd Chartered Accountants and Chartered Tax Advisers 1 Spilman St Carmarthen SA31 1LE
Date: .............................................
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United Counties Agricultural and Hunters Society
Statement of Financial Activities For the Year Ended 30 November 2022
| INCOME AND EXPENDITURE Incoming resources Note Incoming resources from generated funds: Voluntary income 2 Incoming resources from Charitable activities 4 Other incoming resources 5 Total income Resources expended Costs of generating funds: Costs of generating voluntary income 6 Charitable activities 6 Governance costs 6 Total expenses Net movements in funds Balances brought forward at 01 December 2021 Balances carried forward at 30 November 2022 |
Unrestricted Total Total Funds Funds Funds 2022 2021 3,307 3,307 1,849 199,472 199,472 168,622 14,333 14,333 40,923 217,113 217,113 211,394 - - - 159,167 159,167 90,661 15,792 15,792 14,643 174,958 174,958 105,304 42,154 42,154 106,090 1,241,029 1,241,029 1,134,939 1,283,183 1,283,183 1,241,029 ==================== ======= |
|---|---|
Continuing operation
All of the charity's activities (operations) in the above two financial years derived from continuing operations.
The Charity has no recognied gains or losses for the year other than the results above.
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United Counties Agricultural and Hunters Society
Balance Sheet as at 30 November 2022
| 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 UNRESTRICTED FUNDS Other reserves Unrestricted income funds Total unrestricted funds TOTAL CHARITY FUNDS |
£ £ £ £ 1,159,215 1,145,308 2,125 2,125 105,125 147,240 11,307 402 105,152 69,292 223,710 219,059 24,721 34,318 198,988 184,741 1,358,203 1,330,049 75,020 89,020 1,283,183 1,241,029 345,045 345,045 938,138 895,984 1,283,183 1,241,029 1,283,183 1,241,029 2021 2022 |
|---|---|
Approved by the Board on …..................................... and signed on its behalf by:
…............................................
Mr L S Davies Trustee
7
United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2022
1 ACCOUNTING POLICIES
Basis of Preparation of Financial Statements.
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 Basis of Accounting
The financial statements have been prepared on the assumption that the Charity is able to carry on business as a going concern, which the trustees consider appropriate.
The financial statements show a surplus for this financial year.
Fund accounting policy
Unrestricted income fund are general funds that are available for use at the trustees' discretion in furtherance of the objective of the charity.
Further details of each fund are disclosed in note 16.
Incoming resources
Donations are recognied 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:
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The donor specifies that the donation must only be used in future accounting periods; or
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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 contructive 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.
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United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2022
Fixed assets
Individual fixed assets costing £100 or more are intially 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 0% 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 Donations and legacies Appeals and donations 3 Grants receivable UK Government grants |
Unrestricted Funds Total Funds 2022 Total Funds 2021 £ £ £ 3,307 3,307 1,849 3,307 3,307 1,849 Unrestricted Funds Total Funds 2022 Total Funds 2021 £ £ £ 10,532 10,532 40,349 10,532 10,532 40,349 |
|---|---|
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United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2022
| 4 Welsh Dairy Show Hire of Showground Facilities 5 Other incoming resources Other income UK Government grants Subscriptions Other income Incoming resources from charitable activities |
Unrestricted Funds Total Funds 2022 Total Funds 2021 £ £ £ 72,373 72,373 - 127,099 127,099 168,622 199,472 199,472 168,622 Unrestricted Funds Total Funds 2022 Total Funds 2021 £ £ £ 10,532 10,532 40,349 1,669 1,669 - 2,132 2,132 574 14,333 14,333 40,923 |
|---|---|
10
United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2022
6 Total resources expended
| Direct costs Show costs Employment costs Training costs Establishment costs Repairs and maintenance Office expenses Printing, posting and stationery Equipment hire Cleaning Advertising and promotion Travel costs Independent examiner's fee Legal and professional costs Bank charges Depreciation of tangible fixed assets |
Welsh Dairy Show Hire of Showground Facilities Governance Total £ £ £ £ - - - - 6,161 6,161 12,322 24,644 - 400 - 400 - 52,498 - 52,498 - 54,707 - 54,707 - 3,777 - 3,777 - 1,975 - 1,975 - 3,197 799 3,997 - 2,124 - 2,124 2,221 2,731 - 4,953 - 643 - 643 - - 2,670 2,670 - 7,952 - 7,952 - 452 - 452 5,165 9,001 - 14,166 13,547 145,620 15,792 174,958 |
|---|---|
7 Trustees' remuneration and expenses
During the year to 30th November 2022, no remuneration was paid to any of the Trustees
8 Net incoming resources
Net incoming resources is stated after charging:
| Hire of plant & machinery - operating leases Depreciation of owned assets |
2022 2021 £ £ 3,997 4,420 14,166 10,249 18,163 14,669 |
|---|---|
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United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2022
- 9 Employees' remuneration
The aggregate payroll costs of these persons were as follows:
| Wages and salaries | 2022 2021 £ £ 24,644 22,179 24,644 22,179 |
|---|---|
No employee received emoluments of more than £60,000 during the year (2021 - No. 0)
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United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2022
10 Tangible fixed assets
| Buildings & | |||
|---|---|---|---|
| Plant & Office | Improvements | ||
| Freehold Land | Equipment | to property Total |
|
| £ | £ | £ £ |
|
| Cost | |||
| As at 30 November 2022 | 1,167,299 | 143,102 | 42,286 1,352,687 |
| Depreciation | |||
| As at 1 December 2021 | 64,588 | 108,671 | 6,047 179,306 |
| Charge for the year | 8,156 | 5,165 | 846 14,166 |
| As at 30 November 2022 | 72,744 | 113,836 | 6,893 193,472 |
| Net book value | |||
| As at 30 November 2022 | 1,094,556 | 29,266 | 35,393 1,159,215 |
| As at 30 November 2021 | 1,102,712 | 9,358 | 33,238 1,145,308 |
| Debtors | |||
| Trade debtors | 2022 2021 £ £ 105,125 131,167 |
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| Other debtors | - 16,000 |
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| Prepayments and accrued income | - 73 |
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| 105,125 147,240 |
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| Current asset investments | |||
| War Stock | 2022 2021 £ £ 402 402 |
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| Loan - Flea For All Ltd | 10,905 - |
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| 11,307 402 |
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| All current asset investments were held in the UK. |
11 Debtors
12 Current asset investments
13
United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2022
13 Creditors: Amounts falling due within one year
| Trade creditors Taxation and social security Other creditors Accruals and deferred income Creditors amounts falling due within one year includes deferred income: As at 1 December 2021 Amount released in the year As at 30 November 2022 14 Creditors: Amounts falling due after more than one year Other creditors - Loan |
2022 2021 £ £ 14,674 14,233 3,776 6,890 1,892 1,892 4,380 11,303 24,721 34,318 2022 2021 £ £ 5,532 6,219 -5,532 -687 - 5,532 2022 2021 £ £ 75,020 89,020 75,020 89,020 |
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United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2022
15 Related parties
Controlling entity
The charity is controlled by the trustees.
Trustees' advances
At the year end, the following balance was owed to Mr E Davies and family - 2022: £75,020 (2021: £89,020)
16 Analysis of funds
| General Funds Unrestricted income fund |
At 01 December 2021 Incoming resources Resources expended At 30 November 2022 £ £ £ £ 1,241,029 217,113 -174,958 1,283,183 |
|---|---|
17 Net assets by fund
| Tangible assets Current assets Creditors: Amounts falling due within one year Creditors: Amounts falling due after one year Net assets |
Unrestricted Funds Total Funds 2022 Total Funds 2021 £ £ £ 1,159,215 1,159,215 1,145,308 223,710 223,710 219,059 -24,721 -24,721 -34,318 -75,020 -75,020 -89,020 1,283,183 1,283,183 1,241,029 |
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