REGISTERED COMPANY NUMBER: 01288824 (England and Wales) REGISTERED CHARITY NUMBER: 505947 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 FOR MONMOUTHSHIRE SHOW SOCIETY LIMITED Green & Co Chartcrcd Ccrtificd Accountanls Pembroke House Llantamam Park Way Cwmbran Torfacn NP44 3AU MONMOUTHSHIRE SHOW SOCIETY LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Actii'ities Balance Sheet Notes to the Financial Statements Detailed Statement of Financial Activities 17 MONMOUTHSHIRE SHOW SOCIETY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 The trustees who are also directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 st August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recominended Practice applicable to Charities preparing their accounts in a¢¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives of the Societ). The main objectives of ihe Society are the advancement of agriculture, horticulture, foresiry and conservation in Wales. More specifically.. i) To promote agriculture. horticulturc. forestry and conservalion particularly in Wales. i1} To advance science, research and education in connection with agriculture, horticuliure, forestry and conservation. iii) To promotc thc improvcmcnt of livc.stock and the prevention and eradication of diseases in animals harmt.ul to humans. iv) To hold dcmonslrations of modern agricultural practices. v) To hold shows for ihc cxhibition of lii'cstock. pouliry. farm and horticultural produce and forestry. and for the demonstration of agricultural machinery, and their methods. Thc stratcgy undcrpinning thcsc objcctivcs is to cncouragc altcndancc. involvcmcnt and compctitivc participalion at Ihc Monmouthshirc Show. This is a onc day agriculiural cvcnl. currcnily hcld on thc third Sunday in August each year. The Show acts as a "local shop window for farniing and the countryside community to come together, and broaden the understanding of the public attending. The Society is able to achieve its objectives with the aid of voluntary persons who assist in organising the running of the show. Page I MONMOUTHSHIRE SHOW SOCIETY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 ACHIEVEMENT AND PERFORMANCE Review of activities and future developments The statement of financial activities for the year are set out on page 17 and 18. The Society has applied all its funds for the year Tn the furtherance of its objectlves. The net incoming resources over expendilure for the year ended 3 1st August 2024 amounled to a surplus of £46,397 compared with a surplus of £28,527 in 2023. The net assets of the Society as at 31 st August 2024 have increased to £554,736 from £508,339 as at 31 st August 2023. The Monmouthshire Show Society built on the success of 2023. with an estimated 40% increase in show attendance for 2024, and overwhelmingly positive feedback from the local community. Finances ¢ontinu¢d to b¢ carcfully m¢inaged throughout the year. though cosis were subjecl to acute inflaiionary pre%%ures (experienced globally) a.s a resuli of the War in Ukraine. The Show staycd truc to its charitablc objcctii'cs, with significant focus on promoting awarcncss of agricultural practiccs lo i'isilors. A new 'Young HandlcTS' compclition was inlroduccd, whcrc childrcn dcmonstratcd the skills required in traditional livestock shows, following guidance from a local expert. It was a huge success, and rcprescntcd another step towards incrcascd interaction with thc public. This ycar's charity sponsorship wcnl to Wycsham Hivc. who wcrc also prcscnt al thc show to continuc thcir engagement with the community. Their 'Hive Community Cafe, will pro￿lde a place to meet friends, attend workshops, meetings & events, and will actively reach out to locals who may feel isolated or lonely. This is a great opportunity to improve Ihe wellbeing of ihose who live in and around Wyesham. and a thoroughly deserving iniliative. The showground remains available for the use of local walkers and other recrcalional pursuits. providing both physical and mental health benefits to many. One such example being the Rotaiy's 'Walk the Wye,, where free access was provided to the showground. Investment powers A further objeclive is to invest ihe monies of ihe Society nol immediately required for its main purpose in invcslmcnts, securities or propcrty as may be thoughi fit subjcct lo condilions ofihc law. As stated in the charitable company's memorandum and articles of association. the incom¢ and property of the Socicty shall only bc applicd towards thc promotion of ihc objcclivcs of thc Socicty and no portion shall bc paid or transferred directly or indirectly by way of dividend, bonus or otherwise by way of profit to the members of the Society. All the Society's fixed assets are solely for the Society's use. The cups and trophies are valued significantly higher than their original Cost which is reflected in the balance sheet as indicated by the Revaluation reserve. The location of the cups and trophies are accurately recorded ￿hen prizes are issued and collection of them each year prior to the show day is strictly monitored. They are also adequately insured. Page 2 MONMOUTHSHIRE SHOW SOCIETY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 FINANCIAL REVIEW Reserves policy It is the policy of the charity to maintain unrestricted funds (currently £554,736) which are available for use at thc discrction of Ihc trustccs in furthcrancc of the gencral objectives of the charity and which have noi been degignated for other purposes. The liquid reserves are mainiained at a level sufficient for any or all of the charity's purposes, once it has met its commitmenls and other planned expenditure ensuring that funds are available to cover management and administration and support costs and io respond lo emergency requirements which arise from time to time. STRUCTURE, GOVERNANCE AND MANAGEMEIYT Governing document Monmoiith ShoTh' Society Limited is a charitable company limited by guarantee incorporated on l December 1976 and is governed by its memorandum and articles of associalion. The liability of members upon liquidation is limited to £2 each and any surplus remaining after the realisatlon of assets shall not be di5tribul¢d to the members but shall be transferred to some charitable institution, having objectives similar to that of the Society. Directors and trustees Thc dircctors of thc charitablc company are its trustccs for the purpose of charity law and throughout this report arc collcctivcly rcfcrrcd io as Ihc truslCCS. Thc Chairnian, Trcasurcr and othcr membcrs arc thc trustccs. Thc trustccs adminislcr thc charily and mcct wilh thc rcmaindcr of ihc Managcmcni Committcc on a montlily basis rcccivingi no rcinuncration for acting in that capacity. In ordcr to be elected as a truslcc of the Management Coininittce, thc nained pcrson must be a mcmber of the Socicty. At cach Annual Gcncral Mccling of the Society. thc Prcsidcnt, Chairman and Trcasurcr rctirc from officc but are all cligiblc for rc-clcction. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01288824 {England and Wales) Registered Charit). number 505947 Registered office Pembroke House Llantarnam Park Way Cwmbran Torfaen NP44 3AU Page 3 MONMOUTHSHIRE SHOW SOCIETY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 Trustees The trustccs at ycar cnd under review wcrc: M Herbert J Durrant R Webb Chairman (From 22nd November 2021) Vice Chainnan (From 9th January 2024) Treasurer and Showground Administrator The Trustees neither received nor waived any emoluments or expenses during the year (2023 - £Nil). Independent Examiner Nicholds Park Green & Co Chartered Certified Accountants Pcinbroke Hou%e Llantarnam Park Way Cwmbran Tort"aen NP44 3AU Approved by order of the board of trustccs on 27th January 2025 and signed on its behalf by.. R Webb - Trustee Page 4 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MOINMOUTHSHIRE SHOW SOCIETY LIMITED Independent examiner's report to the trustees of Monmouthshire Show Soeiety Limited {'the Company,) report to the charity trustees on my examination of the accounts of the Company for the year ended 31 sl August 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance wilh the requiremenls of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of ihe Company are not required io be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respecl of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my CX