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: - 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 - 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 ## 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: - (1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or - (2) the accounts do not accord with those accounting records; or - (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 - (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| |---|---| 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 - (a) These financial statements are prepared for the year ended 31 October 2022; comparative figures refer to the year ended 31 October 2021. - (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 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 ## - (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 – |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| |---|---| 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|