CARDIGAN COUNTY AGRICULTURAL SHOW SOCIETY
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 28 NOVEMBER 2020
CHARITY COMMISSION REFERENCE NUMBER 509960
D MB DAVIES LIMITED ACCOUNTANTS
CARDIGAN COUNTY AGRICULTURAL SHOW SOCIETY
CONTENTS PAGE
Page
1 Trustees’ Report
2 Significant Information
3 Trustees’ Responsibility for the Accounts
4 Independent Examiner’s Report to the Trustees
- 5 Statement of Financial Activities
6 Balance Sheet
- 7-11 Notes to the Accounts
1
CARDIGAN COUNTY AGRICULTURAL SHOW SOCIETY
TRUSTEES’ REPORT
The Trustees present their report and the Accounts for the year ended 28 November 2020.
Developments, Activities and Achievements during the year
The Trustees would like to thank the volunteers who help to make the Annual Show such a success, these include field stewards, gate stewards, car parking stewards, Reactive First Aid, Aberporth Air Cadet Training Corps, organisers of the Cookery, Craft and Horticulture competitions. The Trustees also appreciate the loan of machinery and equipment from Show Committee Members and the local farming community.
Financial Activities and Affairs
The Trustees are satisfied with the Financial Results for the year ended 28 November 2020. A deficit of £73,895 was shown for the year. This was made up of £36,248 from investment income, £542 from other income, and a fluctuation loss of £93,385 in respect of the investments made with HSBC Premier Discretionary Management Portfolio.
Annual expenditure had remained under control and it is proposed to keep costs to a minimum for the immediate future.
Approved by the Trusteeson /8/ 05,tor and signed on their behalf by: A. LYV JOWEY foe forer......rrampomeron, LY, SOVES (SIGNATURE) (NAME)
2
CHARITY COMMISSION REFERENCE NUMBER: 509960
CARDIGAN COUNTY AGRICULTURAL SHOW SOCIETY
SIGNIFICANT INFORMATION
The Association was established under a Trust Deed dated 6 March 1980 in order to promote and advance for the benefit of the public, agriculture, horticulture and forestry and to promote the improvement of livestock, and the prevention and eradication of diseases in animals useful to man and in particular in the area of Cardigan and District.
PRESIDENT: Mr D Thomas,
OFFICERS:
Chairman: Mr Lyn Jones, Ty Gwyn, Ferwig, Cardigan.
General Secretary: Mrs Delyth Williams, Neuaddlwyd Uchaf, Ciliau Aeron, Lampeter.
Treasurer: Mrs Margaret Morris, Penrallt, Llechryd, Cardigan.
TRUSTEES: Mr E Edwards, Rhosmeini, Crymych; Mr L Jones, Ty Gwyn, Ferwig, Cardigan;
Mr G Lewis, Frondeg, Ferwig, Cardigan;
Mr JJ Williams, Harddfan, Ferwig Road, Cardigan.
ADVISERS
Bankers: Barclays Bank plc, High Street, Cardigan.
Accountants: D M B Davies, Broyan House, Priory Street, Cardigan, Ceredigion, SA43 1BZ.
Solicitors: Messrs George Davies and Evans, Grosvenor Hill, Cardigan.
3
.
CARDIGAN COUNTY AGRICULTURAL SHOW SOCIETY
TRUSTEES’ RESPONSIBILITY FOR THE ACCOUNTS
Charity Law requires the trustees to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources for that period. In preparing those financial accounts the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation;
-
to value assets and liabilities in accordance with the Statement of Recommended Practice Accounting by Charities.
The Trustees are responsible for keeping proper accounting records which are sufficient to show and explain the charity's transactions and to disclose with reasonable accuracy at any time the financial position of the Society, and to enable them to ensure that any statements of account comply with the requirements of the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
.
4
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF
CARDIGAN COUNTY AGRICULTURAL SHOW SOCIETY
| report to the trustees on my examination of the accounts of the Cardigan County Agricultural Show Society for the year ended 28 November 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
| report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
----- Start of picture text -----
2
NG >
----- End of picture text -----
----- Start of picture text -----
D MB DAVIES LIMITED
----- End of picture text -----
Accountants
Broyan House Priory Street CARDIGAN Ceredigion SA43 1BZ
pare: /05(ol...
5
Cardigan County Agricultural Show Society
Statement of Financial Activities For the Year Ended 28 November 2020
| Notes | General | 2020 | 2019 | |||
|---|---|---|---|---|---|---|
| Funds | ||||||
| £ | £ | £ | ||||
| INCOME | ||||||
| Donationsand Subscriptions | 2 | 2,219 | 2,219 | 2,655 | ||
| Income from Agricultural Show | 3 | 1,327 | 1,327 | 47,440 | ||
| investment Income | 4 | 36,248 | 36,248 | 41,722 | ||
| Other Income | 5 | 542 | 542 | 3,720 | ||
| 40,336 | 40,336 | 95,537 | ||||
| Asset Management Fluctuation Gain | - | - | 173,539 | |||
| 40,336 | 40,336 | 269,076 | ||||
| EXPENDITURE | ||||||
| Management and Administration | 6 | 18,022 | 18,022 | 23,928 | ||
| Direct Charitable Expenditure | 7 | 2,824 | 2,824 | 65,180 | ||
| 20,846 | 20,846 | 89,108 | ||||
| Asset Management Fluctuation Loss | 8 | 93,385 | 93,385 | - | ||
| 114,231 | 114,231 | 89,108 | ||||
| NET INCOMING RESERVES | - | 73,895 | - | 73,895 | 179,968 | |
| Total Funds Brought Forward | 2,452,649 | 2,452,649 | 2,272,681 | |||
| Tota!FundsCarriedForward | 2,378,754 | 2,378,754 | 2,452,649 |
6
Cardigan County Agricultural Show Society
----- Start of picture text -----
Balance Sheet
As At 28 November 2020
----- End of picture text -----
----- Start of picture text -----
2020 2020 2019 2019
FIXED ASSETS: Notes £ £ £ £
Tangible assets 9 15,660 18,424
CURRENT ASSETS:
Investments 8 2,089,037 2,146,797
Cash at Bank and in Hand 277,557 289,228
2,366,594 2,436,025
CREDITORS: Amounts falling
due within one year 10 3,500 1,800
NET CURRENT ASSETS: 2,363,094 2,434,225
TOTAL ASSETS LESS CURRENT
LIABILITIES: 2,378,754 2,452,649
FUNDS 11 2,378,754 2,452,649
Approved by the Trustees on 8 /O% {our and signed on their behalf by
foun foF a ( L UV' 4K¢OfVizWi S” trustee)
----- End of picture text -----
The notes on pages 7 to 11 form an itegral part of these accounts.
7
igan County
Agricultural Show Socie
Notes to the Accounts For the Year Ended 28 November 2020
1 ACCOUNTING POLICIES
Basis of Accounting. These Accounts have been prepared on the basis of historic costs in accordance with Accounting and Reporting by Charities - Statement of Recommended Practice (SORP)}, with Accounting Standards and with the Charities Act 2011.
Income. Donations are accounted for when received by the Society. Other Income is accounted for on an accrual basis as far as it is prudent to do so.
Gifts in Kind. The Charity receives the benefit of work carried out by volunteers, and receives the use of some facilities and equipment without charge. No value is placed on these items. Where the benefit extends over several periods, in which case they are valued and included in the Balance Sheet at a reasonable valuation.
Depreciation of tangible assets is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and Equipment
----- Start of picture text -----
15% reducing balance
----- End of picture text -----
2 DONATIONS AND SUBSCRIPTIONS
Donations and Subscriptions include subscriptions received from members as well as other donations.
3 INCOME FROM AGRICULTURAL SHOW
| INCOME FROM AGRICULTURAL SHOW | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Trade Stands | 888 | 6,448 |
| Gate Receipts& Catalogue Sales | - | 25,609 |
| Sponsorship and Advertising | 400 | 2,595 |
| Entry Fees | as | 4,484 |
| Field Rightsand Concessions | - | 5,070 |
| Evening Entertainment | - | 1,807 |
| Craft and Food Hall/Horticultural Section | 39 | 1,427 |
| 1,327 | 47,440 |
8
Cardigan County Agricultural Show Society
Notes to the Accounts For the Year Ended 28 November 2020
| 4 | INVESTMENTINCOME | 2020 | 2019 | |
|---|---|---|---|---|
| £ | £ | |||
| DepositAccount | 623 | 966 | ||
| HSBC Premier Discretionary Management: | ||||
| Interest | 5,694 | 114 | ||
| Dividends | 43,045 | 58,287 | ||
| 49,362 | 59,367 | |||
| Less | HSBC Charges | 13,114 | 17,645 | |
| Net Investment income | 36,248 | 41,722 | ||
| 5 | OTHER INCOME | |||
| Sales of Hoodies and Polo Shirts | - | 335 | ||
| Raffles -Cookery& Crafts | - | 425 | ||
| Show Dinner income | - | 2,208 | ||
| YFC Evening Event | - | 329 | ||
| Cadets | - | 100 | ||
| Poultry/Shearing | - | 80 | ||
| Hire of Benches | - | 243 | ||
| OutstandingCheques Written Back | 542 | - | ||
| 542 | 3,720 | |||
| 6 | MANAGEMENTAND ADMINISTRATION | |||
| General Secretary -Honorarium | 9,950 | 9,500 | ||
| Treasurer Honorarium | 1,350 | 1,750 | ||
| Horticulture Secretary Honorarium | 300 | 300 | ||
| Cookery/Crafts Secretary Honorarium | 300 | 300 | ||
| Donations | 1,000 | 5,261 | ||
| Sundry Expenses: Security - Field | - | 862 | ||
| Bus Hire | - | 250 | ||
| Accountants Fees | 2,280 | 1,509 | ||
| Depreciation - Plantand Equipment | 2,764 | 3,251 | ||
| Barclaycard Fees | - | 194 | ||
| London Stock Exchange Identity | Fee | 78 | - | |
| Meeting Room - Ladies' Committee | - | 24 | ||
| Purchase of Hoodiesand Polo Shirts | . | 727 | ||
| 18,022 | 23,928 |
9
Cardigan County Agricultural Show Society
| Notes to the Accounts | ||||
|---|---|---|---|---|
| For the Year Ended 28 November2020 | 2020 | |||
| 2020 | 2019 | |||
| 7 | DIRECTCHARITABLE EXPENDITURE | £ | £ | |
| PrizeMoney - Entries | 211 | 12,390 | ||
| Horticulture Prize Money | 122 | 620 | ||
| Hire ofTents | - | 11,424 | ||
| Refreshments | - | 2,694 | ||
| Judges Expenses (including B&B) | - | 1,102 | ||
| Public AddressSystem | - | 2,400 | ||
| Postage | 83 | 710 | ||
| Printing, Stationery, Photography, Cups & Rosettes | 768 | 8,817 | ||
| Advertising/Signs | - | 595 | ||
| WiFi | - | 500 | ||
| Scaffolding/Toilets | - | 1,200 | ||
| Course Building | - | 1,210 | ||
| Affiliation Fees | 535 | 717 | ||
| ShowAmbassadors | - | 200 | ||
| Show Dinner | ~ | 2,667 | ||
| Insurances | 327 | 2,045 | ||
| Hire of Field | - | 2,000 | ||
| Display Events | - | 4,080 | ||
| Show Materials/Signs etc& Field | Expenses/Barriers | - | 2,059 | |
| Hire ofGrandstand | - | 1,362 | ||
| Food Hall Expenses | - | 21 | ||
| Ambulance Service | - | 2,138 | ||
| EveningEntertainment | - | 850 | ||
| Evening Entertainment - Licence | - | 21 | ||
| Prize Money -YFC Stock Judging | - | 1,175 | ||
| Prize Money -YFCShow DayCompetitions | - | 120 | ||
| Health& SafetyAdvice | - | 746 | ||
| Computer/Website Expenses | 512 | - | ||
| Traffic Control Signs/Advice | - | 888 | ||
| MiscShow Expenses -ASAO | 115 | 429 | ||
| Flowers - Display/Floral Gifts | 38 | - | ||
| Sundry Expenses | 113 | - | ||
| 2,824 | 65,180 |
10
Cardigan County Agricultural Show Society
Notes to the Accounts For the Year Ended 28 November 2020
8 INVESTMENT - HSBC PREMIER DISCRETIONARY MANAGEMENT
----- Start of picture text -----
£ £
29 November 2019 - Balance Brought Forward 2,146,797
Income Received: Interest 5,694
Dividends 43,045
48,739
Less: Charges 13,114
Net Income 35,625
2,182,422
Valuation at 28 November 2020 2,089,037
Fluctuation Loss at 28 November 2020 - 93,385
9 TANGIBLE FIXED ASSETS Plant and Total
Equipment
£ £
COST:
At 29 November 2019 47,372 47,372
Additions - -
At 28 November 2020 47,372 47,372
DEPRECIATION:
At 29 November 2019 28,948 28,948
Charge for year @ 15% 2,764 2,764
At 28 November 2020 31,712 31,212
NET BOOK VALUE:
At 28 November 2020 15,660 15,660
At 28 November 2019 18,424 18,424
----- End of picture text -----
11
Cardigan County Agricultural Show Society
Notes to the Accounts For the Year Ended 28 November 2020
----- Start of picture text -----
10 CREDITORS: Amounts Falling Due Within One Year 2020 2019
Trade creditors 500 -
Accrued expenses 3,000 1,800
3,500 1,800
11 FUNDS GENERAL 2020 2019
FUND £ £ £
At 29 November 2019 2,452,649 2,452,649 2,272,681
Incoming Resource for the Year 40,336 40,336 269,076
Outgoing Resources for the Year - 114,231 - 114,231 - 89,108
At 29 November 2020 2,378,754 2,378,754 2,452,649
Represented by: 2020 2019
£ £
Tangible Assets 15,660 18,424
Net Current Assets 2,363,094 2,434,225
2,378,754 2,452,649
----- End of picture text -----
12 COMMITMENTS AND CONTINGENT LIABILITIES
In the opinion of the Trustees, there are no commitments and Contingent Liabilities in existence at the year end.
Cardigan County Agricultural Show Society
Breakdown of Expenses- Year ended 28 November 2020
| Donations | 2020 | 2019 |
|---|---|---|
| £ | £ | |
| Donation -Aberporth Dog Agility Society | - | 100 |
| Dreams Dance School | - | 150 |
| EglwyswrwYFC | 200 | 350 |
| PenparcYFC | 200 | 350 |
| Hermon YFC | 200 | 350 |
| Cardigan RFC | 200 | 500 |
| Hamper | 100 | - |
| Hamper | - | 100 |
| St DogmaelsSheepdog Society | 100 | 100 |
| Cardigan Carnival | - | 200 |
| Cows on tour | - | 250 |
| Pembrokeshire RWAS | - | 2,500 |
| Hospice | = | 76 |
| Pony Club | - | 100 |
| C Davies | - | 100 |
| Learning Day Fee | - | 35 |
| Totaldonations | 1,000 | 5,261 |
Details of Outstandng Cheques Written Back During the Year
| £ | ||||
|---|---|---|---|---|
| 2017 | Prize | Money | 223 | |
| 2018 | Prize | Money | 144 | |
| 2019 | Prize | Money | 175 | |
| Total | 542 |
The above outstanding cheques have not been presented by the year end and have therefore been written back through other income.
;
Cardigan County Agricultural Show Society
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|Show|Profit &|Loss|-|last|7 years|
|2014|2015|2016|2017|2018|2019|2020|
|Show/Dinner|Income|50,282|53,462|42,726|43,420|56,893|53,063|3,546|
|Expenditure|70,986|73,225|74,636|72,467|85,212|89,108|20,846|
|Other|Details|
|Investment|Income|45,100|40,793|36,927|50,752|36,285|41,722|36,248|
|Investment|fluctuations|61,977|-2,207.|174,316|110,212|-70,223|173,539|93,385|
|Sponsorship/advertising Income|4,328|4,910|4,628|4,105|3,043|2,595|400|
----- End of picture text -----