## ANGLESEY AGRICULTURAL SOCIETY
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
COMPANY NUMBER 01490593 CHARITY NUMBER 510048
I. G. JONES & CO Chartered Accountants 10A High Street LLANGEFNI
ANGLESEY AGRICULTURAL SOCIETY
## COMPANY / CHARITY DETAILS
Name – Anglesey Agricultural Society (a company limited by guarantee)
Charity Number – 510048 Company Number – 01490593 Principal Office – Ty Glyn Williams, Maes Sioe Môn, Gwalchmai
Administrator – Aled W Hughes (to December 2020)
Auditors – I G Jones & Co, 10A High Street, Llangefni
ANGLESEY AGRICULTURAL SOCIETY
REPORT OF THE TRUSTEES / DIRECTORS AND COUNCIL FOR THE YEAR ENDED 31 OCTOBER 2020
The Trustees / Directors and Council present their report and accounts for the year ended 31 October 2020.
## OBJECTIVES AND ACTIVITIES
The object of the Society is the promotion of agriculture in Anglesey, and its principal activity and public benefit is the running of the annual Anglesey Show.
## ACHIEVEMENTS AND PERFORMANCE
The Anglesey Show which was to be held in August 2020 had to be cancelled due to the Covid-19 pandemic. The Society has made efforts to limit the losses arising and restructure in order to again hold successful shows in the future.
## FINANCIAL REVIEW
The results of the year are shown in the following accounts.
The Council has identified the major risks to which the Society is exposed, and has wherever possible established systems to mitigate those risks.
At 31 October 2020 the Society’s unrestricted funds amounted to £806448, but none of this freely available as it is fully invested in fixed assets. The Trustees / Directors intend to build up free Reserves as soon as circumstances allow.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
The Society is a company limited by guarantee and is governed in accordance with its Memorandum and Articles of Association. It is managed by its Council, the members of which are elected by rotation at the AGM and who, during the year ended 31 October 2020, were as follows -
President: J G Jones Esq President Elect: O W Williams Esq Immediate Past President: I J Williams Esq
Chair: P W Williams Esq Vice Chair: R M Roberts Esq Immediate Past Chair: H E Roberts Esq
Honorary Director: M W Evans BVet. Med, MRCVS Honorary Deputy Director: E W Hughes Esq
Honorary Treasurer: Dr E T Jones Honorary Deputy Treasurer: Miss B M Williams
Honorary Legal Advisor: H Redvers Jones F.Inst.L.Ex (R Gordon Roberts Laurie & Co)
ANGLESEY AGRICULTURAL SOCIETY
## REPORT OF THE TRUSTEES / DIRECTORS AND COUNCIL FOR THE YEAR ENDED 31 OCTOBER 2020
## (CONTINUED)
|Mr J T Astley|Mr J Bowles|Mrs M D Bridle|Mr J A Bridle|
|---|---|---|---|
|Mr M W Chapman|Mr R Richards|Miss L M Williams|Mr Dylan Evans|
|Miss J Percival|Mrs E Edwards|Mr J M Humphreys|Cllr K P Hughes|
|Mr T Hughes|Mr R I Humphreys|Ms C Jones|Miss E C Cox|
|Mr D G Jones FRAgS|Mr K W Jones|Mr O Lloyd-Jones|Mr H G Jones|
|Mrs E W Jones|Mr I P Williams|Mr J V Jones|Mr J O Jones|
|Mr W M Jones|Mr W T Jones FRAgS|Mr R J Williams|Mr G Thomas|
|Mrs G Owen|Mr G W Roberts|Mr R I Owen MBE|Mr A Roberts|
|Mr W H Roberts|Mrs I Ponsonby|Miss E H Griffith|Miss S P Roberts|
|Mr T J Rowlands JP, BSc|Mrs V W Rowlands|Miss M J Jones|Mrs E A Jones|
|Mr A Williams|Miss B Williams|Miss E W Williams|Mrs C Parry|
|I J Williams Esq|Mrs I L Williams|Mr A M Carlisle|Miss N G Williams|
|Mr O W Williams|Mr R G Williams JP|Miss N M Williams|Miss A M Jones|
|Miss M Rh Parry|Mr W Roberts|Mr W R Williams JP,||
|||NDA, CDFM, FRAgS||
Ambassador: C A Owen (non-voting)
The Society’s obligations as a Charity / Company are overseen by its Trustees / Directors, who during the year ended 31 October 2020 were as follows –
Mr M W Evans BVet. Med, MRCVS Mr E W Hughes Dr E T Jones Mr P W Williams Mr R M Roberts H Redvers Jones FlnstLEx Mr H E Roberts
The day-to-day running of the Society and the Show was carried out by its full-time Administrator, Aled Hughes. Regretfully due to the pandemic and the resultant financial situation, the Society had to make Aled redundant from December 2020. The Trustees/Directors thank him for his long and dedicated service and wish him well.
## SMALL COMPANY EXEMPTION
In preparing this report the Council has taken advantage of the special exemptions applicable to small companies.
## STATEMENT OF TRUSTEES' / DIRECTORS’ RESPONSIBILITIES
The trustees (who are also directors of Anglesey Agricultural Society for the purposes of company law) are responsible for preparing the trustees’ report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
ANGLESEY AGRICULTURAL SOCIETY
## REPORT OF THE COUNCIL AND TRUSTEES / DIRECTORS FOR THE YEAR ENDED 31 OCTOBER 2020 (CONTINUED)
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- There is no relevant audit information of which the charitable company’s auditors are unaware; and
- The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
ON BEHALF OF THE COUNCIL
M W Evans (Honorary Director)
.....................................................................
Registered Office: Ty Glyn Williams Maes Sioe Môn Gwalchmai
5 February 2021
ANGLESEY AGRICULTURAL SOCIETY
## INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF ANGLESEY AGRICULTURAL SOCIETY
## Opinion
We have audited the financial statements of Anglesey Agricultural Society for the year ended 31 October 2020 which comprise the Statement of Financial Activities (including Income and Expenditure Account), the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- Give a true and fair view of the state of the Charity’s affairs as at 31 October 2020 and of its income and expenditure for the year then ended;
- Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- Have been prepared in accordance with the requirements of the Companies Act 2006.
## Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- The trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- The trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
## Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our Auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
ANGLESEY AGRICULTURAL SOCIETY
## INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF ANGLESEY AGRICULTURAL SOCIETY (CONTINUED)
## Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.
- We have nothing to report in respect of the following matters in relation to which the Companies Act
- 2006 requires us to report to you if, in our opinion: • Adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us;
- The financial statements are not in agreement with the accounting records and returns;
- Certain disclosures of trustees’ remuneration specified by law are not made; or
- We have not obtained all the information and explanations necessary for the purposes of our audit.
- The directors were not entitled to prepare the financial statements in accordance with the small companies regime.
## Responsibilities of the trustees
As explained more fully in the trustees’ responsibilities statement set out in the Trustees’ Report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
## Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually, or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor’s report.
## Use of our report
This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to state to them in an Auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s members as body, for our audit work, for this report, or for the opinions we have formed.
Dafydd Jones FCA, Senior Statutory Auditor For and on behalf of I. G. Jones & Co Chartered Accountants Statutory Auditors 10A High Street LLANGEFNI
5 February 2021
ANGLESEY AGRICULTURAL SOCIETY
## STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2020
|TOTAL
2019
£
3002
386850
66168
21
456041
3586
493177
50
496813
(40772)
---
(40772)
1037979
997207|RESTRICTED UNRESTRICTED
Note
FUNDS
FUNDS
TOTAL
£
£
£
INCOME
Donations
---
7263
7263
Charitable activities
1
---
63876
63876
Other activities
---
39439
39439
Other Receipts
---
6
6
TOTAL INCOME
0
110584
110584
EXPENDITURE
Raising funds
---
---
---
Charitable and other activities
2
---
173410
173410
Other
---
120
120
TOTAL EXPENDITURE
---
173530
173530
NET INCOME / (EXPENDITURE)
0
(62946)
(62946)
Transfer between funds
1
(11701)
11701
---
NET MOVEMENT IN FUNDS
(11701)
(51245)
(62946)
Total funds brought forward
139514
857693
997207
TOTAL FUNDS CARRIED FORWARD
127813
806448
934261|
|---|---|
ANGLESEY AGRICULTURAL SOCIETY
## STATEMENT OF FINANCIAL POSITION (BALANCE SHEET) AS AT 31 OCTOBER 2020
|2019
£
1159949
2750
40053
2654
45457
21482
96401
9455
127338
(81881)
(80861)
997207
997207|2020
Note
£
Fixed Assets
Tangible Assets
5
1137149
Current Assets
Stock on Hand
4650
Sundry Debtors and Prepayments
6
17270
Cash at Bank
5027
26947
Creditors: Amounts Falling Due Within One Year
Creditors
7
43751
Bank Overdraft
8
101324
Bank Loan
8
9455
154530
Net Current Assets / (Liabilities)
(127583)
Creditors: Amounts Falling Due After One Year
Bank Loan
8
(75305)
934261
Funded by:
Accumulated Funds
9
934261|
|---|---|
The accounts are prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Charities Statement of Recommended Practice (FRS 102).
APPROVED BY THE BOARD OF DIRECTORS -
M W Evans (Honorary Director)
P W Williams (Chair)
5 February 2021
Company N[o] : 01490593
ANGLESEY AGRICULTURAL SOCIETY
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
## 1. Accounting Policies
- (a) These financial statements are prepared for the year ended 31 October 2020; comparative figures refer to the year ended 31 October 2019.
- (b) The accounts have been prepared under the historical cost convention, and also in accordance with FRS 102 Section 1A, the Charities Statement of Recommended Practice (FRS 102), and the Companies Act 2006.
- (c) Both Incoming Resources and Resources Expended are included in the Statement of Financial Activities on an accrual basis and are shown net of VAT. Grants receivable towards specific projects are treated as Restricted Income. Where the grants are spent on revenue items, the amount of grant relating to this expenditure is transferred from the Restricted Income Fund to the Unrestricted Fund, where the expenditure is charged. Where the grants are spent on capital items this expenditure is capitalised as Fixed Assets, and funds are transferred from the Restricted Income Fund to the Unrestricted Income Fund in accordance with the depreciation policy applying to those fixed assets.
- (d) Fixed Assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life -
|Pafiliwn Môn|2% straight line|
|---|---|
|Improvements to Other Buildings|2% straight line|
|Show Equipment|25% reducing balance|
|Office Equipment|25% reducing balance|
|Cups and Trophies|10% reducing balance|
|Solar Panels|4% straight line|
- (e) The company pays into a Defined Contribution pension scheme under the auto-enrolment regulations. Contributions are charged in the Income and Expenditure account when they become payable.
## 2. Statement of Financial Activities / Income and Expenditure Account
- (a) There are no recognised gains or losses other than as disclosed in the Income and Expenditure Account and there have been no discontinued activities or acquisitions in the current or preceding accounting period.
- (b) Charitable Expenditure includes –
|Depreciation
Auditors' remuneration
Trustees’ remuneration
Trustees’ expenses|2020
£
24110
2000
NIL
NIL|2019
£
28891
2850
NIL
NIL|
|---|---|---|
The Administrator, who was a full-time paid employee, was an Official but not a Trustee of the Society.
3. Staff Costs
|Average number of employees - Administration
Staff Salaries
£
Employees whose emoluments exceed £60000|2020
2
51371
£
NIL|2019
2
63708
NIL|
|---|---|---|
ANGLESEY AGRICULTURAL SOCIETY
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020 (CONTINUED)
## 4. Taxation
The society does not pay Corporation Tax on its activities as it is a Charity and uses all its income and gains for charitable purposes.
## 5. Tangible Fixed Assets
|Tangible Fixed Assets|||||||
|---|---|---|---|---|---|---|
|COST
As at 1 November 2019
Additions
As at 31 October 2020
DEPRECIATION
As at 1 November 2019
Charge for the Year
As at 31 October 2020
NET BOOK VALUE
As at 31 October 2020
£
As at 31 October 2019
£||Freehold
Show and
Land and
Office
Buildings
Equipment
1118612
253970
---
1310
1118612
255280
47061
192685
7032
15649
54093
208334
1064519
£
46946
£
1071551
£
61285
£||Cups and
Trophies
607
---
607
541
6
547
60
£
66
£||Solar
Panels
Total
35585
1408774
---
1310
35585
1410084
8538
248825
1423
24110
9961
272935
25624
£
1137149
27047
£
1159949|
||||||||
||||||||
||||||||
For further information the additions were as follows -
## Equipment
CCTV
||1310|
|---|---|
|£|1310|
The Trustees are of the opinion that the net book value of Land and Buildings does not exceed its open market value at the balance sheet date.
Grants received in relation to the Old Pavilion Extension, are accounted for as Restricted Income.
ANGLESEY AGRICULTURAL SOCIETY
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020 (CONTINUED)
|6.
7.|Debtors and Prepayments
Show and Showground Debtors
Prepayments
Grants
VAT
£
Creditors
Trade Creditors
Employment Costs
Deferred Income
£||2020
3563
9202
3784
721
17270
£
2020
4557
19599
19595
43751
£|2019
15280
10013
9689
5071|
|---|---|---|---|---|
|||||40053|
|||||2019
13413
701
7368|
|||||21482|
Deferred Income comprises Winter Show income £780, Hire of Showground £950, and Show income £17865 (2019: Winter Show income £3418 and Hire of Showground £3950).
## 8. Bank Overdraft and Loan
The overdraft and loan are secured by legal charge over the Society's freehold land and buildings. The loan is repayable over a period of 9 years from 2017.
## 9. Accumulated Funds
|Balance as at 1 November 2019
Surplus / (deficit) of Income
over Expenditure
Transfers between Funds
Balance as at 31 October 2020|Winter
Restricted
Main
Fair
Fund
Fund
Fund
Total
139514
856415
1278
997207
---
(63690)
744
(62946)
(11701)
11701
---
---
127813
£ 804426
£
2022
£
934261|
|---|---|
The restricted fund represents grants received towards the further development of the Old Pavilion. All other funds are unrestricted funds.
## 10. Limited by Guarantee
The Society is limited by guarantee.
ANGLESEY AGRICULTURAL SOCIETY
SHOW INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2020
|2019
£
146182
20593
117075
1422
12374
42825
6211
346682
25046
8491
21
44207
17397
---
11303
4564
2896
113925
460607
36206
496813|2020
£
INCOME
Showground Receipts
Admission
---
Sponsorship
---
Trade Exhibits
---
Hire of Equipment and Stables to
---
Traders and Competitors
Entry Fees
---
Catering and Other Concessions
---
Winter Show Income
7025
7025
Other Receipts
Subscriptions
12101
Donations and Fundraising Events
11031
Bank Interest Received
6
Hire of Showground and Pafiliwn Môn
17306
Grazing Rents
17397
Coronavirus Grants
40249
Other Grants
9606
Solar Panel FIT
4736
Miscellaneous Receipts
2828
115260
122285
Excess of Expenditure over Income
51245
173530|
|---|---|
ANGLESEY AGRICULTURAL SOCIETY
SHOW INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2020
|2019
£
137033
40800
47910
18090
3353
5751
11993
12316
32877
10440
1121
---
28891
6521
357096
59788
---
3920
744
10004
7456
4421
1732
14616
2850
228
2000
11896
880
8853
50
5228
3586
1465
139717
496813|2020
£
EXPENDITURE
Showground Expenses
Equipment Hire and Setting Up
502
Gate and Car Park Attendants and Security
---
Maintenance of Showground
19871
Refreshments
---
Judges' Fees and Expenses
---
Rosettes, Badges and Certificates
273
Advertising
1904
Insurances
8527
Prizes
350
Special Attractions and Demonstrations
---
Licences and Levies
1151
Cancellation Charges
833
Depreciation
24110
Winter Show Expenditure
6281
63802
Administration Expenses
Administration Salaries
51371
Redundancy Provision
16140
Clerical Assistance
---
Officials Travelling Expenses
263
Printing and Stationery
5032
Postages and Sundries
2505
Telephone
5443
Subscriptions to Other Societies
1116
Marketing and Promotion
9427
Accountancy and Audit Fees
2000
Legal and Consultancy
---
Health and Safety Appraisal
---
Bank Charges and Interest
10778
Office Heating
---
Computer Costs
4539
Donations
120
Provision for Bad Debts
645
Fundraising Events
---
Miscellaneous Expenses
349
109728
173530|
|---|---|