ANGLESEY AGRICULTURAL SOCIETY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 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 2023 The Trustees / Directors and Council present their report and accounts for the year ended 31 October 2023. ## 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 2023 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 2023 the Society’s unrestricted funds amounted to £1257110, £1021600 of which is invested in fixed assets and £200000 being designated for repairs, leaving free reserves of £25510. The Trustees/Directors consider that reserves 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. The Society’s obligations as a Charity are overseen by its Trustees who during the year ended 31 October 2023 were as follows – P W Williams J Aled Roberts E W Hughes J M Humphreys H Redvers Jones Mrs E W Jones ANGLESEY AGRICULTURAL SOCIETY REPORT OF THE TRUSTEES / DIRECTORS AND COUNCIL FOR THE YEAR ENDED 31 OCTOBER 2023 (CONTINUED) and as a Company by its Officers who during the year ended 31 October 2023 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 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. ## ANGLESEY AGRICULTURAL SOCIETY ## REPORT OF THE COUNCIL AND TRUSTEES / DIRECTORS FOR THE YEAR ENDED 31 OCTOBER 2023 (CONTINUED) 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 7 February 2024 ## 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 2023 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 7 February 2024 ANGLESEY AGRICULTURAL SOCIETY ## STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2023 |TOTAL
2022
£
8631
436433
92797
5
537866
2585
313836
---
316421
221445
---
221445
1005240
1226685|RESTRICTED UNRESTRICTED
Note
FUNDS
FUNDS
TOTAL
£
£
£
INCOME
Donations
---
3700
3700
Charitable activities
1
---
466904
466904
Other activities
---
82913
82913
Interest received
---
59
59
TOTAL INCOME
---
553576
553576
EXPENDITURE
Raising funds
---
354
354
Charitable and other activities
2
---
417360
417360
Other
---
---
---
TOTAL EXPENDITURE
---
417714
417714
NET INCOME / (EXPENDITURE)
---
135862
135862
Transfer between funds
1
(6663)
6663
---
NET MOVEMENT IN FUNDS
(6663)
142525
135862
Total funds brought forward
112100
1114585
1226685
TOTAL FUNDS CARRIED FORWARD
105437
1257110
1362547| |---|---| ANGLESEY AGRICULTURAL SOCIETY ## STATEMENT OF FINANCIAL POSITION (BALANCE SHEET) AS AT 31 OCTOBER 2023 |2022
£
1099649
1250
8515
270934
280699
41869
---
20723
62592
218107
(91071)
1226685
1226685|2023
Note
£
Fixed Assets
Tangible Assets
5
1127037
Current Assets
Stock on Hand
2150
Sundry Debtors and Prepayments
6
37378
Cash at Bank
324619
364147
Creditors: Amounts Falling Due Within One Year
Creditors
7
31790
Bank Overdraft
8
1181
Bank Loan
8
22067
55038
Net Current Assets / (Liabilities)
309109
Creditors: Amounts Falling Due After One Year
Bank Loan
8
(73599)
1362547
Funded by:
Accumulated Funds
9
1362547| |---|---| 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). For the year ended 31 October 2023 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 respect to accounting records and the preparation of accounts. APPROVED BY THE BOARD OF DIRECTORS - E W Hughes (Honorary Deputy Director) J A Roberts (Chair) 7 February 2024 ANGLESEY AGRICULTURAL SOCIETY ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 ## 1. Accounting Policies - (a) These financial statements are prepared for the year ended 31 October 2023; comparative figures refer to the year ended 31 October 2022. - (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 Costs
£|2023
£
19012
NIL
NIL
2023
1
40151
£|2022
£
17302
NIL
NIL
2022
1
28621| |---|---|---|---| ## ANGLESEY AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 (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 |5.Tangible Fixed Assets||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |||||||||||| |||||||||||| ||Freehold||Show and|||||||| ||Land and||Office||Cups and|||||| ||Buildings||Equipment||Trophies||Solar Panels||Total|| |COST||||||||||| |As at 1 November 2022|1118612||255280||607||35585|||1410084| |Additions|37400||9000||---||---|||46400| |As at 31 October 2023|1156012||264280||607||35585|||1456484| |DEPRECIATION||||||||||| |As at 1 November 2022|68216||228853||559||12807|||310435| |Charge for the Year|8922||8662||5||1423|||19012| |As at 31 October 2023|77138||237515||564||14230|||329447| |NET BOOK VALUE||||||||||| |As at 31 October 2023|£1078874||£26765||£43||£21355||£1127037|| |As at 31 October 2022|£1050416||£26427||£48||£22778||£1099669|| |||||||||||| |||||||||||| |||||||||||| |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|||||||2023|||2022| |Show and Showground Debtors|||||||16063|||7240| |Prepayments|||||||1607|||1275| |Grants|||||||19708|||---| |VAT|||||||---|||---| ||||||£||37378||£|8515| ANGLESEY AGRICULTURAL SOCIETY ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 (CONTINUED) ## 7. |Creditors||2023||2022| |---|---|---|---|---| |Trade Creditors||11057||15008| |Employment Costs||5919||2835| |Deferred Income||5840||2816| |VAT||8974||21210| ||£|31790|£|41869| Deferred Income comprises Winter Show income £4691 and President's Dinner £1149 ## 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 2022
Surplus / (deficit) of Income
over Expenditure
Transfers betw een Funds
Balance as at 31 October 2023|Restricted
Fund
112100
---
(6663)
105437
£|Main
Fund
1103662
129815
6663
1240140
£| |---|---|---| The restricted fund represents grants received tow ards the further development of the Old Pavilion. ## 10. Limited by Guarantee The Society is limited by guarantee. ANGLESEY AGRICULTURAL SOCIETY ## SHOW INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2023 ||2022
£
211360
33181
97112
14874
28973
13195
398695
17385
14411
5
70136
17397
19535
5264
2417
146550|INCOME
Showground Receipts
Admission
204521
Sponsorship
38455
Trade Exhibits
107444
Entry Fees
14849
Catering and Other Concessions
42764
Winter Show Income
13674
Other Receipts
Subscriptions
19209
Donations and Fundraising Events
6054
Bank Interest Received
59
Hire of Showground and Pafiliwn Môn
64298
Grazing Rents
17397
Other Grants
17056
Solar Panel FIT
1218
Miscellaneous Receipts
1733|2023
£
421707
127024| |---|---|---|---| ||||| ||||| 548731 545245 ANGLESEY AGRICULTURAL SOCIETY ## SHOW INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2023 ||2022
£
156204
36034
10186
1320
991
6649
15133
2464
1497
17302
4324
252104
28621
5548
2323
3402
351
3821
1875
11824
2882
274
781
2585
30
64317
316421
228824
545245|2023
£
EXPENDITURE
Showground Expenses
Equipment Hire and Setting Up
205181
Maintenance and Services
62102
Rosettes, Badges and Judges
7528
Attractions
10290
Advertising
125
Insurances
7423
Prizes
17408
Licences and Levies
4927
Sundry Expenses
2806
Depreciation
19012
Winter Show Expenditure
7627
344429
Administration Expenses
Administration Salaries
40151
Printing and Stationery
6140
Postages and Sundries
4171
Telephone
4104
Subscriptions to Other Societies
1062
Marketing and Promotion
3296
Accountancy Fees
1975
Bank Charges and Interest
9733
Computer Costs
1151
Donations
---
Provision for Bad Debts
---
Fundraising Events
354
Miscellaneous Expenses
1148
73285
417714
Surplus of Income over Expenditure
142525
560239| |---|---|---| |||| |||| |||| ||||