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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|





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|||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<br>- '*-"'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|______l1J_13L|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<br>lntangible assets|12<br>13|3,426<br>8|2,897<br>19|3,426I|2,897<br>19|
|lnvestments|14|1 242|1 226|1,242|226<br>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<br>falling duewithinone year|16|(854)|(650)|(8{e)|(628)|
|NET CURRENTASSETS||1 755|864<br>1|1 753|862<br>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)<br>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)<br>Analysis of cash andcashequivalents||||
||2020|2019||
||f000||t000|
|Cash at bank|2,229|1,259||
|Deposits||||
||2,229|1,259||






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



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## 

||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<br>€|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<br>Undertaken<br>Directly|Support<br>Gosts|2020<br>Total<br>Gosts|201I<br>Total<br>Cosfs|
|||9000|f000|€000|t000|
||Agricultural andHorticultural shows|1,721|296|2,017|4,724|





## 

## 

|||||2020|2019|
|---|---|---|---|---|---|
||Staff<br>costs|Other<br>costs|Depreciation<br>and<br>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<br>ACTIVITY|Raising<br>Funds|Gharitable<br>Activities|2020<br>Total<br>Group|2019<br>Total<br>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|<br>326|260|



## 

## 

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





## 

## 

|STAFFCOSTS<br>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<br>Permanent showground|21I|22<br>9|
|Temporary office|0|1|
|Temporary showground|0|1|
||30|33|
|Theaverageheadcount of employees during theyearwas:|42|99|



## 

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## 

||Freehold<br>Land|AssetsUnder<br>Construction|Buildings|Plantand<br>Machinery|Motor<br>Vehicles|Office/<br>Show<br>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|<br>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|<br>1,826|158||55|3,426|
|November2020||||||||
|At 30 November<br>2019|270|406|<br>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<br>2020<br>2019<br>€000<br>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|





## 

|15.|<br>DEBTORS||Group||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<br>€000|Group|2019<br>t000|Gharity<br>2020<br>f000|2019<br>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<br>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<br>December|IncomeExpenditure||Transfers|Gains/<br>(losses)|at30<br>November|
||2019|||||2020|
||t000|8000|€000|f000|<br>€000|€000|
|Restricted funds|||||||
|Donated farm|820|<br>308|(35)|(10e3)|||
|Educational bursaries|6|10|(71|1093||1,102|
|Total restricted funds|826|<br>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<br>December 2018|Balanceat1<br>December 2018|lncome|Expenditure|Expenditure|Gains/<br>(losses)|Balance at30<br>November2019|Balance at30<br>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|





## 

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|||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<br>201I<br>t000|flows<br>€000|finance<br>leases<br>t000|movements<br>€000|non-cash<br>changes<br>€000|November<br>2020<br>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|