ANGLESEY AGRICULTURAL SOCIETY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 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 Company Secretary/Development Officer – Miss Cain Angharad Owen Reporting Accountants – I G Jones & Co, 10A High Street, Llangefni
ANGLESEY AGRICULTURAL SOCIETY
REPORT OF THE TRUSTEES / DIRECTORS AND COUNCIL FOR THE YEAR ENDED 31 OCTOBER 2022
The Trustees / Directors and Council present their report and accounts for the year ended 31 October 2022.
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 was held successfully in August 2022 and attracted a wide audience of locals and visitors from both agricultural and non-agricultural backgrounds. The Society continued its grant-aided development of the Showground.
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 2022 the Society’s unrestricted funds amounted to £1145585, £987549 of which is invested in fixed assets, leaving free reserves of £158036. The Trustees/Directors consider that reserves not otherwise designated of at least this amount are required to safeguard against unforeseen circumstances.
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 2022, were as follows -
President: J G Jones Esq President Elect: O W Williams Esq Immediate Past President: I J Williams Esq Chairman: P W Williams Esq Vice Chairman: A Roberts Esq Deputy Vice Chair: Miss Non G Williams Immediate Past Chairman: H E Roberts Esq Honorary Director: Vacant Post Honorary Deputy Directors: E W Hughes Esq, Miss E M Williams Honorary Treasurer: J M Humphreys Esq 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 2022 (CONTINUED)
Mr J T Astley Mrs J P McKnight Mr E W Hughes Mrs Carys Jones Miss J Percival Miss L M Williams Mrs B Williams Mrs E A Jones Mr T Hughes Mr O W Williams Mrs S McGuigan Mr J V Jones Mr D G Jones FRAgS Mr W T Jones FRAgS Mrs V W Rowlands Mr O T Jones Mrs E W Jones Mr I P Williams Mr R J Williams Mrs C Parry Mr D Jones Mr R I Humphreys Miss Ff P Roberts Mr Rhys Richards Mr G P Jones Mrs O Evans Miss Nia M Williams Miss A M Jones Mr Ken W Jones Mr G W Roberts Miss E H Griffiths Mr G Thomas Mr W M Jones Miss A M Jones Mr Rhys Richards Miss E W Williams Mrs G Owen Miss C R Jones Mr H G Jones Mr I R Williams Mr W Huw Roberts Miss S P Roberts Mr O Lloyd Jones Miss N G Williams Mr T J Rowlands YH, BSc Mr J O Jones Mr A Roberts Mr R G Williams YH/JP Mr I J Williams Mr W R Williams JP Miss E W Williams Ms Llinos Medi Cyng D Rh Thomas NDA, CDFM, FRAgS Mr G Gittins Mr Rh Owen
Withdrawn – Mrs E Edwards, Mr W Roberts,Mr R M Roberts, Mrs I Ponsonby, Mr A Carlisle, Miss E Cox, Mr A Williams
Non Voting Members – Miss N M Williams, Mrs S Lloyd (Press officers), Miss Cain A Owen (Ambassador)
The Society’s obligations as a Charity are overseen by its Trustees who during the year ended 31 October 2022 were as follows –
H E Roberts (Immediate Past Chairman) P W Williams (Chairman) I P Williams (Past Chairman) E W Hughes (Hon. Deputy Director) J M Humphreys (Hon. Treasurer) H Redvers Jones F.Inst.L.Ex (Hon. Legal Advisor) Aled Roberts (Vice Chairman)
and as a Company by its Officers who during the year ended 31 October 2022 were as follows –
Miss Cain Angharad Owen (Company Secretary) Peter Williams (Director) Aled Roberts (Director) Emyr W Hughes (Director) H Redvers Jones (Director) Miss Enid M Williams (Director)
The day-to-day running of the Society and the Show is carried out by its full-time Company Secretary/ Development Officer Miss Cain A Owen.
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
ANGLESEY AGRICULTURAL SOCIETY
REPORT OF THE COUNCIL AND TRUSTEES / DIRECTORS FOR THE YEAR ENDED 31 OCTOBER 2022 (CONTINUED)
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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:
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There is no relevant audit information of which the charitable company’s auditors are unaware; and
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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
Enid M Williams (Honorary Deputy Director)
.....................................................................
Registered Office: Ty Glyn Williams Maes Sioe Môn Gwalchmai
- 8 February 2023
ANGLESEY AGRICULTURAL SOCIETY
INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF ANGLESEY AGRICULTURAL SOCIETY
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 October 2022 which are set out on following pages.
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 with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect 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 examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s report
I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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(1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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(2) the accounts do not accord with those accounting records; or
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(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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(4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities.
I 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.
Dafydd Jones FCA I. G. Jones & Co Chartered Accountants and Reporting Accountants 10A High Street LLANGEFNI
8 February 2023
ANGLESEY AGRICULTURAL SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2022
| TOTAL 2021 £ 13534 71845 54803 --- 140182 1545 67658 --- 69203 70979 --- 70979 934261 1005240 |
RESTRICTED UNRESTRICTED Note FUNDS FUNDS TOTAL £ £ £ INCOME Donations --- 8631 8631 Charitable activities 1 --- 436433 436433 Other activities --- 92797 92797 Interest received --- 5 5 TOTAL INCOME --- 537866 537866 EXPENDITURE Raising funds --- 2585 2585 Charitable and other activities 2 --- 313836 313836 Other --- --- --- TOTAL EXPENDITURE --- 316421 316421 NET INCOME / (EXPENDITURE) --- 221445 221445 Transfer between funds 1 (7379) 7379 --- NET MOVEMENT IN FUNDS (7379) 228824 221445 Total funds brought forward 119479 885761 1005240 TOTAL FUNDS CARRIED FORWARD 112100 1114585 1226685 |
|---|---|
ANGLESEY AGRICULTURAL SOCIETY
STATEMENT OF FINANCIAL POSITION (BALANCE SHEET) AS AT 31 OCTOBER 2022
| 2021 £ 1116951 4650 18395 18088 41133 25891 --- 9455 35346 5787 (117498) 1005240 1005240 |
2022 Note £ Fixed Assets Tangible Assets 5 1099649 Current Assets Stock on Hand 1250 Sundry Debtors and Prepayments 6 8515 Cash at Bank 270934 280699 Creditors: Amounts Falling Due Within One Year Creditors 7 41869 Bank Overdraft 8 --- Bank Loan 8 20723 62592 Net Current Assets / (Liabilities) 218107 Creditors: Amounts Falling Due After One Year Bank Loan 8 (91071) 1226685 Funded by: Accumulated Funds 9 1226685 |
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The accounts are prepared in accordance with the special provisions relating to small companies Part 15 of the Companies Act 2006 and the Charities Statement of Recommended Practice (FRS 102) For the year ended 31 October 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 and the Charities Act 2011 relating to small companies and charities. The members have not required the company to obtain an audit of its accounts for the year and the directors acknowledge their responsibilities for complying with the requirements of the Acts with respec to accounting records and the preparation of accounts.
APPROVED BY THE BOARD OF DIRECTORS -
E W Hughes (Honorary Deputy Director)
P W Williams (Chair)
8 February 2023
ANGLESEY AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
1. Accounting Policies
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(a) These financial statements are prepared for the year ended 31 October 2022; comparative figures refer to the year ended 31 October 2021.
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(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.
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(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.
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(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 paid into a Defined Contribution pension scheme under the auto-enrolment regulations. Contributions were charged in the Income and Expenditure account when they become payable.
2. Statement of Financial Activities / Income and Expenditure Account
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(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.
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(b) Charitable Expenditure includes –
| 3. | Depreciation Trustees’ remuneration Trustees’ expenses Staff Costs Average number of employees - Administration Staff Salaries £ |
2022 £ 17302 NIL NIL 2022 1 28621 £ |
2021 £ 20198 NIL NIL 2021 0 5994 |
|---|---|---|---|
ANGLESEY AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 (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 2021 Additions As at 31 October 2022 DEPRECIATION As at 1 November 2021 Charge for the Year As at 31 October 2022 NET BOOK VALUE As at 31 October 2022 As at 31 October 2021 |
Freehold Land and Buildings Show and Office Equipment |
Cups and Trophies Solar Panels Total |
|||||||
| 1118612 --- |
255280 --- |
607 --- |
35585 --- |
1410084 --- |
|||||
| 1118612 | 255280 | 607 | 35585 | 1410084 | |||||
| 61125 7071 |
220071 8782 |
553 6 |
11384 1423 |
293133 17302 |
|||||
| 68196 | 228853 | 559 | 12807 | 310435 | |||||
| £1050416 | £26427 | £48 | £22778 | £1099649 | |||||
| £1057487 | £35209 | £54 | £24201 | £1116951 | |||||
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.
| 6. | Debtors and Prepayments Show and Showground Debtors Prepayments Grants VAT £ |
2022 7240 1275 --- --- 8515 £ |
2021 10463 7932 --- --- |
|
|---|---|---|---|---|
| 18395 |
ANGLESEY AGRICULTURAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOB 2022
(CONTINUED)
| 7. | Creditors Trade Creditors Employment Costs Deferred Income VAT £ |
2022 15008 2835 2816 21210 41869 £ |
2021 18975 --- 5355 1561 |
|
|---|---|---|---|---|
| 25891 |
Deferred Income comprises Winter Show income £2816 (2021: Winter Show income £5355).
8. Bank Overdraft and Loan
The overdraft and loan are secured by legal charge over the Society's freehold land and buildings.
The loans are repayable by 2027.
9. Accumulated Funds
| Balance as at 1 November 2021 Surplus / (deficit) of Income over Expenditure Transfers between Funds Balance as at 31 October 2022 |
Winter Restricted Main Fair Fund Fund Fund Total 119479 883709 2052 1005240 --- 212574 8871 221445 (7379) 7379 --- --- 112100 £ 1103662 £ 10923 £ 1226685 |
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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 2022
| 2021 £ --- 17 --- 1656 --- 30 1703 9952 15927 --- 32544 17397 56598 8334 4862 1199 146813 148516 |
INCOME Showground Receipts Admission 211360 Sponsorship 33181 Trade Exhibits 97112 Entry Fees 14874 Catering and Other Concessions 28973 Winter Show Income 13195 Other Receipts Subscriptions 17385 Donations and Fundraising Events 14411 Bank Interest Received 5 Hire of Showground and Pafiliwn Môn 70136 Grazing Rents 17397 Coronavirus Grants --- Other Grants 19535 Solar Panel FIT 5264 Miscellaneous Receipts 2417 |
2022 £ 398695 146550 |
|
|---|---|---|---|
| 545245 |
ANGLESEY AGRICULTURAL SOCIETY
SHOW INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2022
| 2021 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| EXPENDITURE | |||
| Showground Expenses | |||
| --- | Equipment Hire and Setting Up | 156204 | |
| 16363 | Maintenance and Services | 36034 | |
| 277 | Rosettes, Badges and Judges | 10186 | |
| --- | Attractions | 1320 | |
| --- | Advertising | 991 | |
| 7339 | Insurances | 6649 | |
| --- | Prizes | 15133 | |
| 905 | Licences and Levies | 2464 | |
| --- | Sundry Expenses | 1497 | |
| 20198 | Depreciation | 17302 | |
| --- | Winter Show Expenditure | 4324 | |
| 45082 | 252104 | ||
| Administration Expenses | |||
| 5994 | Administration Salaries | 28621 | |
| 2914 | Printing and Stationery | 5548 | |
| 1180 | Postages and Sundries | 2323 | |
| 3601 | Telephone | 3402 | |
| 189 | Subscriptions to Other Societies | 351 | |
| 210 | Marketing and Promotion | 3821 | |
| 1000 | Accountancy Fees | 1875 | |
| 5034 | Bank Charges and Interest | 11824 | |
| 1358 | Computer Costs | 2882 | |
| --- | Donations | 274 | |
| --- | Provision for Bad Debts | 781 | |
| 1545 | Fundraising Events | 2585 | |
| 1096 | Miscellaneous Expenses | 30 | |
| 24121 | 64317 | ||
| 69203 | 316421 | ||
| 79313 | Surplus of Income over Expenditure | 228824 | |
| 148516 | 545245 |