2020-11-30-accounts - Three Counties Agricultural Society

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	Page
AnnualReport ofthe Trustees	1-12
lndependentAuditor'sReport	13-15
Consolidated StatementofFinancialActivities	16
Gharity andGonsolidatedBalance Sheets	17
Consolidated Gashflow Statement	18
Notesto the Financial Statements	19-34

		Unrestricted	Restricted	TotalFunds	TotalFunds
		Funds	Funds	2020	2019
	Note	€000	f000	€000	2000
INCOME FROM
Donations andLegacies	3	2	318	320	830
Charitableactivities
Agriculturalandhorticultural
shows	4	293		293	4,290
Otherlncome	5	457		457
Othertradingactivities
Fundraising events		76		76	299
Tradinosubsidiarvincome - '*-"'9	6	353		353	7?7?
lnvestments	7	24		24	32
Total		1,205	318	1,523	6.824
EXPENDITUREON
Gharitableactivities
Agriculturalandhorticultural
shows	9A	2,017		2,017	4,724
Educational Bursaries	9B		42	42	20
Other
Fundraising events	9B	253		253	271
Trading subsidiary
expenditure	9B	349		349	964
lnvestment management
costs	9B	7		7	7
Total		2,626	42	2,668	5,986
Netgains/(losses)on
investments		2		2	85
Netincome/(loss)		(1,419)	276	_l1J13L	923
RECONCILIATIONOF
FUNDS
Totalfundsbroughtforward
at1December2019	19	5,180	826	6,006	5,083
TOTALFUNDS GARRIED
FORWARDAT30
NOVEMBER2O2O	{9	3,761	__1f02	4,863	6,006

			GROUP	CHARITY	CHARITY
	Notes	2020	201I	2020	2019
		€000	t000	f000	t000
FIXEDASSETS
Tangible assets lntangible assets	12 13	3,426 8	2,897 19	3,426I	2,897 19
lnvestments	14	1 242	1 226	1,242	226 1
		4,676	4,142	4,676	4,142
CURRENTASSETS
Debtors	15	380	1,255	366	1,238
Cash at bankand inhand		2,229	1,259	2,206	1,252
		2,609	2,514	2,572	2,490
CREDITORS:Amounts falling duewithinone year	16	(854)	(650)	(8{e)	(628)
NET CURRENTASSETS		1 755	864 1	1 753	862 1
LONGTERM LIABILITIES
Bank Loans	18	(1,568)		(1,568)
NET ASSETS		4,863	6,006	4,861	w*
FUNDS
Restrictedfunds	19	1,102	826	1,102	826
Unrestrictedfunds	19	3,761	5,180	3,759	5,178
TOTALFUNDS		4,863	6,006	4,861	6,004

	2020	2019	2019
Note	e000	t000
Netcash inflow from operations
Net cashprovidedby operating activities	190		159
Cashflows frominvestingactivities
Dividendsandinterestfrominvestments	24		32
Purchaseofproperty, plant andequipment	(881)		(44s)
Purchaseofintangible assets			(7)
Cash transferredfrominvestmentaccount	188		(1sB)
Proceedsfromsaleofinvestments	78		314
Purchaseofinvestments	(280)		(1s6)
Netcash (used in) investingactivities	(871)		(438)
Gashflowsfromfinancingactivities
Borrowingfrombank	1662
lnterest paid	(11)
Netcash providedbyfinancingactivities	1651
Change incashand cash equivalents in the	970		(27e)
reporting period
Cash and cash equivalentsat1December 2019	'l,259	1	538
Cash andcashequivalents at30 November 2020	2,229	1	259
i) Reconciliation of net incometonet cash flowfromoperating	activities
	2020	2019
	f000	t000
Net incoming resources	(1,1431		923
Adjustments for:
lnterest paid	11
Depreciation charge	347		s39
Amortisationcharge	11		11
(Gains)/lossesoninvestments	(21		(85)
Disposal offixedassets	5		8
Dividendsandinterestfrominvestments	(241		(32)
(lncrease)/decreaseindebtors	875		(814)
(Decrease)/increase in creditors	110		(1e1)
	190		159
ii) Analysis of cash andcashequivalents
	2020	2019
	f000		t000
Cash at bank	2,229	1,259
Deposits
	2,229	1,259

Tangible fixed assets are statedatcostlessdepreciation and impairment. Depreciationis provided
atthe following annual ratesinordertowrite off each asset overitsestimated usefullife:
Permanentbuildings 4%oncost Propertyimprovements 10%to25% on cost Newwoodenbuildings 10% to25%oncost Plantandmachinery 10o/oto25%oncost Motorvehicles 33%oncost
Office and showequipment 25%to33%oncost

	Unrestricted	Restricted	2020	2019
	€000	e000	f000	t000
Donated Farm		308	308	820
Educational Bursaries		10	10	10
Other Donations	2		2
	2	318	320	830

	2020	2019
	f000	t000
Show income	222	4,118
Membership income		B2
Other income	71	90
	293	4,290

	2020	201I
	€000	t000
Government Grant funding	457
	457

PROFITANDLOSSACCOUNTANDBALANCESHEET FORT	HE YEARENDED30 NOV	EMBER2O2O
	2020 €	201It
Turnover	353,435	1,372,999
Cost of sales	(54,8171	(232,485)
Grossprofit	298,618	1,140,514
Administrative expenses	(293,758)	(731,541)
Operatingprofit	4,860	408,973
Giftaidpayable toThreeCountiesAgriculturalSociety	(4,860)	(408,e73)
Retained(loss)forthe year
Total assets	t	t
Debtors: amounts falling duewithinoneyear	29,596	s6,B3B
Cashatbank andinhand	22,900	7,242
	52,496	44,080
Totalliabilities
Creditors: amounts falling duewithin one year	(50,809)	(42,393)
Total assets lesstotal liabilities	1,687	1,687
Reserves	f	t
Profitandloss reserves	1,682	1,682
Share capital	5	5
Shareholders' Funds	1,687	1,687

7.	INVESTMENT INGOME
				2020	2019
				€000	t000
Bank interest receivable				1	4
Dividends				23	2B
				24	32
8.	NETINCOMINGRESOURCES
	Thisisstatedaftercharging the following
				2020	2019
				e000	t000
	Auditor's remuneration
	For auditservices			15	15
	For otherservices			4	9
	AssetsownedbytheGroup:
	Depreciation			347	339
	Amortisation			12	11
	Operating Lease Costs			6	6
9.	A)AGRICULTURAL AND HORTICULTURAL ACTIVITIES-ResourcesExpended
	Activity	Activities Undertaken Directly	Support Gosts	2020 Total Gosts	201I Total Cosfs
		9000	f000	€000	t000
	Agricultural andHorticultural shows	1,721	296	2,017	4,724

				2020	2019
	Staff costs	Other costs	Depreciation and Amortisation	Total	Total
	f000	€000	f000	e000	t000
Agricultural andHorticultural shows	1,180	503	334	2,017	4,724
Educationalbursaries		42		42	20
Costsofraising funds	117	'111	25	253	271
Finance costs		7		7	7
TotalforGharity	1,297	663	359	2,319	5,022
Trading costsof the Subsidiary	133	216		349	964
TotalforGroup	1,430	879	359	2,668	5,986

SUPPORTCOSTSBREAKDOWN BY ACTIVITY	Raising Funds	Gharitable Activities	2020 Total Group	2019 Total Group
	f000	€000	f000	t000
Management	I	74	82	54
Finance	o	89	98	79
Informationtechnology	I	93	102	99
Human resources	4	40	44	2B
Total	30	296	326	260

OVERNANCECOSTS
	2020	2019
	f000	t000
Auditors'remuneration:
Forauditservices	15	15
Legalandprofessional fees	26	25
Staffcosts	32	27
Other	720
	80	87

STAFFCOSTS Staffcosts
	2020	201I
	8000	t000
Wagesand salaries	1 268	1,259
Social security costs	95	97
Pension contributions	67	60
	1,430	1,416

Theaveraenumberoffulltimeequivalentemployees during theyearwas:
g	2020	201I
	No.	tVo.
Office management Permanent showground	21I	22 9
Temporary office	0	1
Temporary showground	0	1
	30	33
Theaverageheadcount of employees during theyearwas:	42	99

	Freehold Land	AssetsUnder Construction	Buildings	Plantand Machinery	Motor Vehicles	Office/ Show Equipment	Total
	€000	f000	f000	€000	€000	€000	f000
Cost
At1December	270	406	6,060	909	45	271	7,961
2019
Additions	685	26	103	52		15	881
Disposals			(3471	(8)			(355)
Transfers
	955	432	5,816	953	45	286	8,487
Depreciation
At1December			4,088	732	43	201	5,064
2019
Disposals			(344)	(6)			(350)
Charge for the			246	69	2	30	347
year
			3,990	795	45	231	5,061
NetBookValue
At30	955	432	1,826	158		55	3,426
November2020
At 30 November 2019	270	406	1,972	177	2	70	2,897

	Website	Total
Gost	9000	[000
Asat?sfDecember 2019	47	4/
Additionsinyear
	47	47
Amortisation
Asaf7sfDecember 2019	28	2B
Charge foryear	1rl	11
	39	39
Net bookvalue
At30th November2020	I	8
At30th November 2019	19	19

NVESTMENTS
	Charity
	Listed lnvestments 2020 2019 €000 t000
At1December2019	978	1,071
Additions	280	136
Disposals	(78)	(s14)
Net gains/(losses)	2	B5
At30 November2020	1,182	978
Cash balances awaitingreinvestment	60	248
At30 November2020	1,242	1228
Historicalcost	__988	981

DEBTORS			Charity	Charity
	2020	2019	2020	2019
	f000	t000	€000	t000
Trade debtors	46	208	34	173
Amounts duefrom subsidiarycompany				20
Prepayments andaccruedincome	274	1,044	272	1,042
Other debtors	60	3	60	3
	380	1258	366	1238

16.CREDITORS	2020 €000	2019 t000	Gharity 2020 f000	2019 t000
Trade creditors	91	92	91	90
Amounts due tosubsidiarycompany			16
Taxation andsocial security	26	70	26	70
Accruals	80	143	80	143
Pension costs	5	5	5	5
Deferred income(see note'17)	466	330	420	315
Bank loans duewithinone year	94		94
Bank credit cards	2	5	2	5
Other creditors	90	5	85
	8!t	654	819	628

EFERRED INCOME
	2020	Group	2019	Gharity 2020	2019
	f000		t000	€000	t000
Balance at1December2019	330		407	315	379
Released duringthe year	(330)		(407)	(315)	(s7e)
lncomereceived inthe year	466		330	420	315
Deferred income at30November2020	466		330	420	315

BANKLOANS
		Group			Gharity
	2020		2019	2020		2019
	€000		t000	8000		t000
Duewithinoneyear	94			94
Due between one and two years	242			242
Due between two andfiveyears	1,193			1,193
Due in more than fiveyears	133			133
Totalsecuredloans	1,662			1,662
Less due within oneyear (see note16)	(e4)			(e4)
Total loans due in more thanoneyear	1,568			r*5os

	Balance					Balance
	at1 December	IncomeExpenditure		Transfers	Gains/ (losses)	at30 November
	2019					2020
	t000	8000	€000	f000	€000	€000
Restricted funds
Donated farm	820	308	(35)	(10e3)
Educational bursaries	6	10	(71	1093		1,102
Total restricted funds	826	318	(421			1,102
Unrestricted funds
Charity	5,178	857	(2,2781		2	3,759
Tradingsubsidiary	2	353	(353)			2
Eliminated on consolidation		(5)	5
Total unrestricted funds	5,1801,205		(2,626)		2	3,761
TOTALFUNDS	6,0061,523		(2,668)		2	4,863

			Balanceat1 December 2018	Balanceat1 December 2018	lncome	Expenditure	Gains/ (losses)	Balance at30 November2019	Balance at30 November2019
				t000	f000	f000	t000		f000
Restrictedfunds
Donated farm					820				820
Educational bursaries				4	10	(8)			6
Total restrictedfunds				4	830	(8)			826
Unrestrictedfunds
Charity				5,077	5,030	(5,014)	B5		5,178
Trading subsidiary				2	1,373	(1,373)			2
Eliminated on consolidation					(40e)	409
Total unrestrictedfunds				5,079	1,205	(5,978)	85		5,180
TOTALFUNDS				5,083	1,523	(5,986)	85		6,006
20.NETASSETSBYFUND
				2020			2019
	Restricted			Unrestricted	Total	Restricted	Unrestricted		Total
	funds			funds		funds		funds
	f000			f000	f000	t000		t000	t000
Fixed assets				4,676	4,676			4,142	4,142
Current assets	1	1	02	1,507	2,609	826		1,688	2,514
Current liabilities				(760)	(760)			(650)	(650)
Long term liabilities				(1,662)	(1,662)
Netassets	1,102			3,761	4,863	826		5,186	6,006

		2020	201I
		€000	t000
Financial	assets measured at fairvalue	1,242	1,226
Financial	assets measured atamortisedcost	2,333	2,290
Financial	liabilities measured atamortisedcost	(263)	(244)

	Balanceat1	Gash-	New	Fairvalue	Other	Balance at30
	December 201I t000	flows €000	finance leases t000	movements €000	non-cash changes €000	November 2020 f000
Cash	1,259	970				2,229
Cash equivalents	248	(188)				60
	1,507	782				2289
Loans falling due
within oneyear		(e4)				(e4)
Loans falling due
after more than
oneyear		(1.5681				(1,568)
Finance lease
obligations	(12)	6				(6)
Total	1,495	(8741				621

	2020	2019
	t000	t000
ExpiryDate:
Lessthan1year	6	6
Withinl-5years		6
	6	12

8.COMPARATIVE STATEM	ENTOFFI	NANCIALACTIVITIES
		Unrestricted	Restricted	TotalFunds
		Funds2019	Funds2019	2019
	Note	f000	f000	€000
INCOME FROM
Donations andLegacies	3	10	830	840
Gharitableactivities
Agriculturalandhorticultural
shows	4	4,280		4,280
Otherlncome	5
Othertrading activities
Fundraising events		299		299
Tradingsubsidiaryincome	6	1,373		1,373
lnvestments	7	32		32
Total		5,994	830	6,824
EXPENDITUREON
Gharitableactivities
Agriculturalandhorticultural
shows	9A	4,724		4,724
Educational Bursaries	9B	12	I	20
Other
Fundraising events	9B	271		271
Tradingsubsidiary
expenditure	9B	964		964
lnvestmentmanagement
costs	9B	7		7
Total		5,978	I	5,996
Net gains/(losses)on
investments		85		85
Netincome		101	822	923
RECONCILIATIONOF
FUNDS
Total fundsbroughtfonuard
at1December 2018		5,079	4	5,083
TOTALFUNDSCARRIED
FORWARDAT30
NOVEMBER2019	19	_____lJ!g_	826	6,006