REGISTERED CHARITY NUMBER: 0502809
United Counties Agricultural and Hunters Society
Annual Report and Financial Statements for the Year Ended 30 November 2023
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 2023
| 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 2023
United Counties Agricultural and Hunters Society
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 Mrs S Thomas, Chairwoman Mr A Warlow Mr R L Evans Mr N Evans Mr R Evans Mr L S Davies Ms J Morgan Appointed 17th February 2023 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 2023
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, Lynn Davies, Robert Evans, Jane Morgan and Sian Thomas as Chairwoman 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 £1,166.67 repayment per month over a 10 year period was acceptable. 4 years & 4 months is remaining.
Following a surplus for two consecutive financial years, a deficit has been incurred for this financial year. This is reacting to an increase in reserved funds by re-investing in to the Society. For that I wish to thank all officers for their continued hard work.
Approved by the Trustees on ….......................................... and signed on their behalf by:
…............................................... Mrs S Thomas 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 2023, 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 2023
| 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 2022 Balances carried forward at 30 November 2023 |
Unrestricted Total Total Funds Funds Funds 2023 2022 3,320 3,320 3,307 135,845 135,845 199,472 11,649 11,649 14,333 150,815 150,815 217,112 - - - 137,319 137,319 159,166 18,262 18,262 15,792 155,582 155,582 174,958 -4,767 -4,767 42,154 1,283,183 1,283,183 1,241,029 1,278,416 1,278,416 1,283,183 ==================== ======= |
|---|---|
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.
6
United Counties Agricultural and Hunters Society
Balance Sheet as at 30 November 2023
| 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 |
£ £ £ £ 1,168,146 1,159,215 2,125 2,125 83,436 105,125 9,980 11,307 117,975 105,152 213,516 223,709 42,226 24,721 171,290 198,988 1,339,436 1,358,203 61,020 75,020 1,278,416 1,283,183 345,045 345,045 933,371 938,138 1,278,416 1,283,183 1,278,416 1,283,183 2022 2023 |
|---|---|
Approved by the Board on …..................................... and signed on its behalf by:
…............................................
Mr L S Davies Trustee
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United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2023
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 deficit for this financial year, although a healthy reserve of funds remain.
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 2023
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 2023 Total Funds 2022 £ £ £ 3,320 3,320 3,307 3,320 3,320 3,307 Unrestricted Funds Total Funds 2023 Total Funds 2022 £ £ £ 0 0 10,532 0 0 10,532 |
|---|---|
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United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2023
| 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 2023 Total Funds 2022 £ £ £ 73,348 73,348 72,373 62,497 62,497 127,099 135,845 135,845 199,472 Unrestricted Funds Total Funds 2023 Total Funds 2022 £ £ £ 0 0 10,532 5,460 5,460 1,669 6,189 6,189 2,132 11,649 11,649 14,333 |
|---|---|
10
United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2023
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 £ £ £ £ - - - - 7,701 7,701 15,402 30,803 0 53,220 53,220 25,477 25,477 3,973 3,973 1,205 1,205 763 191 953 6,662 6,662 2,985 1,347 4,332 332 332 2,670 2,670 7,876 7,876 747 747 8,329 9,001 17,331 19,015 118,304 18,262 155,582 |
|---|---|
7 Trustees' remuneration and expenses
During the year to 30th November 2023, 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 |
2023 2022 £ £ 953 3,997 17,331 14,166 18,284 18,163 |
|---|---|
11
United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2023
- 9 Employees' remuneration
The aggregate payroll costs of these persons were as follows:
| Wages and salaries | 2023 2022 £ £ 30,803 24,644 30,803 24,644 |
|---|---|
No employee received emoluments of more than £60,000 during the year (2022 - No. 0)
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United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2023
10 Tangible fixed assets
| Buildings & | |||
|---|---|---|---|
| Plant & Office | Improvements | ||
| Freehold Land | Equipment | to property Total |
|
| £ | £ | £ £ |
|
| Cost | |||
| As at 30 November 2023 | 1,167,299 | 169,364 | 42,286 1,378,949 |
| Depreciation | |||
| As at 1 December 2022 | 72,744 | 113,836 | 6,893 193,472 |
| Charge for the year | 8,156 | 8,329 | 846 17,331 |
| As at 30 November 2023 | 80,899 | 122,165 | 7,738 210,803 |
| Net book value | |||
| As at 30 November 2023 | 1,086,400 | 47,199 | 34,547 1,168,146 |
| As at 30 November 2022 | 1,094,556 | 29,266 | 35,393 1,159,215 |
| Debtors | |||
| Trade debtors | 2023 2022 £ £ 83,436 105,125 |
||
| Other debtors | - - |
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| Prepayments and accrued income | - - |
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| 83,436 105,125 |
|||
| Current asset investments | |||
| War Stock | 2023 2022 £ £ 402 402 |
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| Loan - Flea For All Ltd | 9,578 10,905 |
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| 9,980 11,307 |
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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 2023
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 2022 Amount released in the year As at 30 November 2023 |
2023 2022 £ £ 21,282 14,674 14,671 3,776 1,892 1,892 4,380 4,380 42,226 24,722 2023 2022 £ £ - 5,532 - -5,532 - - |
|---|---|
14 Creditors: Amounts falling due after more than one year
| Other creditors - Loan | 2023 2022 £ £ 61,020 75,020 61,020 75,020 |
|---|---|
14
United Counties Agricultural and Hunters Society
Notes to the Financial Statements For the year Ended 30 November 2023
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 - 2023: £61,020 (2022: £75,020)
16 Analysis of funds
| General Funds Unrestricted income fund |
At 01 December 2022 Incoming resources Resources expended At 30 November 2023 £ £ £ £ 1,283,183 150,815 -155,582 1,278,416 |
|---|---|
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 2023 Total Funds 2022 £ £ £ 1,168,146 1,168,146 1,159,215 213,516 213,516 223,710 -42,226 -42,226 -24,721 -61,020 -61,020 -75,020 1,278,416 1,278,416 1,283,184 |
|---|---|
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