Dalston Agricultural Society Reglstration numbor: 512445 Annual Report and Flnancial statements 31 December 2023 dOdd&co
Dalston Agricultural Soclety Contents Referen and Administrative Details Truslees, report Trustees, responsibiliiies Independent examinerfs report Statement of financial activitiès Balance sheet Notes to the financial statements
Dalston Agricultural Soclety Reference and Administrative Detsils Charity name Dalston Agricultural Society Charfty registration number 512445 Prin¢ipal office NFU Offi Bute House Montgomery Way Rosehill Estate CARLISLE CA1 2UU Reglst•red office NFU Office Bute House Montgomery Way Rosehill Estate CARLISLE CA12UU Tru8teos P Holliday (Resigned 22 February 2023) D H Black C P Brough l Blamire S A Jackson Secretsri88 N J Utting {Resigned 22 February 2023) J Richardson Treasurer A Sims Accountant Dodd & Co Limited FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA12RW Page 1
Dalston Agrlcultural Soclety Trustees, Report for the Year Ended 31 December 2023 The finaneial statements have been prepared in accordance with the accounting policiés sét out in notes to the alxounts and comply with the charity's goveming document. the Charities Act 2011 and Accounting and Reporting by Chatities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. Structurg. govemance and management The trustees present their annual report and the unaudited financial statements for the year ended 31 Dernber 2023. Dalston Agricultural Society is an unincorporated association and is established by its Constitution dated 28 January 1982. It was registered with the Charity Commission on 6 April 1982 with charity number 512445. Dalston Show is a Charitable Incorporated Organisation (CIO) established by an association constitution dated 7 January 2019 and wistered wth.the Charity Commission on 14 February 2019 as a linked charity with charity number 512445-1. The CIO was set up to tske on the organisation and running of the annual Dalston Show. Dalston Agricultural Society owns the Village Show Field and carries out it5 ¢harilable purposes by allowing the CIO to use the Village Show Field for Dalston Show. The board of trustees fonn the committe8 that administers the Charilies. New trustees are appointed by the committeé. ObjeIveS and acllvltles The objects of the charities are the advanment of agriculture for the public benefit by encouraging improvèments in Ihe breeding of stock, the management of land and in the gen8ral promotion of agriculbjre and by organising and presenting the annual Dalston Agricultural Show. In planning activities for the yèar. the trustees kept in mind the Chatity Commission's guidance or) public nefft at each trustees, meeting. The trustees aim to provide an illustration of Cumbrian Agriculture, showing all famiing methods and, in particular, the fine array of livestock produced on our family fam)s. Visitors are given an opportunity to experience life in the countryside as they view rural activilies and craft marquees. together with a wide range of trade stsnds, from environment81 organisations to local foods. and businesses offering their goods for sale. Achievements and performance The Dalston Show in 2023 was very successful and generated a surplus of £5.574. split beeen net incoming resour of £1.177 for Dalston Show CIO and net inwning resources of £4,397 for Dalston Agricultural Society. Closing reserves of Dalston Show CIO were £9.668 at 31 Dember 2023 and Dalston Agricultural Society had closing reserves of £78,048. Free reseNes of £8,160 were held at the year end by Dalston Show CIO and £57.607 by Dalston Agricultural Society. Flnanclal revlow The lev81 of r85erves at th8 year end can be found in note 14 to the acwunts. The reserves are continually monitored by ihe trustses to ensure they are adequate to cover needs. The charity holds reserves to ensure fvture expense obligations can be met when they fall due, regardless of fijture unknown income levels. Approved by the Trustees on 7 February 2024 and signed on their behalf by.. c.?. G,, C P Brough Trustee Page 2
Dalston Agricultural Society Trustees, Responsibilities In relation to the Financial Statsments The trusteès are responsible for prgpartng the Trustees. Report and the financial 8tat8m8nts in accordan with applicable law end United Kingdom A¢¢ounting Standards. The law applIC8b to charities in England and Wales requires the tfusteos to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resourc8s of the charity for that period. In preparing these financial statements, th8 trustees are required to: select suitsble accounting polici•s and then 8pply them consistently- obseNe the methods and principles in the Charities SORP., make judgements and éstimates that are reasonable and prudent- state whether applicable accounting standards have been followed, subject to any material departurés disclosed and 8xplain8d in the financial ststements- and prepare the financi81 statements on the goin9 concem basis unless it is inappropriate lo prèsume that the charity will continue in business. The trustees are responsible for keeping proper accounling records that disclose with reasonable accuracy at any time the financial position of the charity and enable thém to ensure that the financial ststements comply with the Charities Act 2011, the Charity {A¢counts and Reports) Regulations and tho provisions cf the trust deed. They are responsible for safeguarding the assets of the ¢harty ané hence for laking reasonable steps for the prevention and detection of fraud and other irregularities. Page 3
Independent Examinerfs Report to the Trustees of Dalston Agrlcultural Soclety I report on the a¢Unts ofthe charity for the year ended 31 December 2023, which are Set out on pages 5 to 13. Your attention is to drawn to thè fact that the Charity has pr8par6d the financial statements in accordancè wth Accounting and Reporting by Charities preparing their a¢¢ounts in accordancè with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Reporting by Charilies". Statement of Recommended Practi issued on 1 April 2005 which is referred to in th8 extant regulations but has since been withdrawn. We understand that this has been done in order for the accx)unts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019. Respective responslblllties of trustees and examiner The Charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year und8r section 144(2) of the Charities Ad 2011 (the 2011 Ad} and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the 2011 Act., follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act., and state whether particular matters have come trj my attenlion. Ba$1$ of Independent examlngrf¥ report My examination was carried out in accordance with the General Directions given by the Charity Commission. An oxamination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also indudes consideration of any unusual item$ or dis¢lo$ures in the accounts. and sèeking explanations from you as trustees ncernIng any such mattets. The procedures undertaken do not provide all the evidence Ihat would be required in 8n audit and consequently no opinion is given as to whether the accounts present 8 'true and fair view and the report is limited to those matters set out in the ststement below. Independent examlnerfs statement In connection with my examination, no matter has come to my attention: (1 } vthich gives me reasonable Cause lo believe that in any material respect the requirements: to keep accounting record5 in accordan¢e wilh section 130 of the Charities Act 2011.. and to prepare accounts whith accord with the accounting records, comply wth the accounting requirements of the 2011 Act have not been met," or (2) to which. in my opinion, attention should be drawn in order to enable a proper understsnding of the a¢Unts to be reached. FIFTEEN Rosehill Montgomery Way Rosehill Eststg CARLISLE CA12RW oanne Thomlinson FCA Dodd & Co Limited Chartered Accountants 7 February 2024 Page 4
Dalston Agricultural Society Statement of Financlal Activities for the Year Ended 31 December 2023 Unrestricted Restrlcted Total Funds Total Fund8 Funds Funds 2023 2022 Note Income and endowments from: Donations and lega¢ie$ Raising funds Investment income Charitsble activites Totsl income 3,167 3.603 1,224 3,167 3.603 1,224 57,750 65,744 1,698 3,603 181 57,265 62.747 57.750 57,750 Expendlture on: Charitable activities Total eXndItUre 3,597 3,597 56,573 56.573 60,170 60.170 62,231 62.231 Net movements in funds 4,397 1,177 5,574 516 R•¢on¢lllatlon of fund• Totsl funds brought forward Total funds carried fOard 73.651 78,048 8,491 9,668 82.142 87,716 81,626 82,142 The notes on pages 7 to 13 forni an intsgral part of these financial statements. Page S
Dalston Agricultural Society Balance Sheet as at 31 December 2023 2023 2022 Flxed assets Tangible assets 10 21,949 22.595 Current assets stocks and work in progress Debtors Cash at bank and in hand 1,335 484 70.800 72,599 1,335 2,014 59,730 63,079 11 Crodltors: Amounts falling due within one year 12 (6,8321 (3.532) Net current a$$ets 65,767 59,547 Net assets 87,716 82,142 The funds of the charity: Restrlcted funds 9.668 8,491 Unrestrlcled funds Unrestricted income fvnds 78,048 73,651 Total eharity funds The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 87,716 82,142 Approved by the Board on 7 February 2024 and signed on its behalf by. C P Brough Trustee The notes on pages 7 to 13 fomi an integral part of these financial statements. Page 6
Dalston Agrlcultural Society NotOS to the Financial Statements for the Year Ended 31 December 2023 Accountlng policies Stalement of eompllanco Th8 accounts (financial statements) have been prepared under the historical cost ¢onv8ntion with items recognised at cost or transaction value unl8ss otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordancé with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The accounts {financial ststsments) have been prepared to give 8 Irue and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'tru8 and fair view,. This departure has involved following Accounting and Reporting by Charities préparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 102) rather than the Accounting and Reporting by Chariti'es:Statement of Rècommended Practice effective from 1 April 2005 which has since been withdrawn. Ba8ls of proparation The tharity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwis8 stated in the rèlevant accounting policy notes. Going Concern These financi81 statements have been prèpared on a going concern basis. Fund a¢¢ountlng policy Unrestricted income funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of thè Charity. Restrictsd funds are those donated for use in a particular area or for spècific purposes, the usè of which is restricted to that area or purpose. Further detsils of each fund are disclosed in note 14. Income and èndowments Donations and legacies including donations and gifts 1$ recognised where there is entit18ment, probabilty of re¢eipt and thè amount Can be measured with suffiGient r81iability. Income from Govèrnment and other grants. whether 'capital' grants or'revenue, grants, is recognised when the charity has entitlement to th• funds, any performance conditions attached to the grants have been met. it is probable that the income will be received and the amount can be measured reliably and is not deferred. Investment income is Tecognised on a receivable basis. Income from ¢haritable activitieg includes income recognised as earned {as the relatèd goods or services are provided) und8r contract. Expondlture Liabilities ar8 r8cognised as soon as there is 8 legal or constructive obligation committing thé charity to the expenditurè. All expenditure is accounted for on an accruals basis and has been das$ifi8d under headings that aggregate all costs related to the category. Charitsble expenditure comprises those costs incurred by the charity in the delivery of its activities and seNices for its beneficiarie$.11 indudes both co$ts that can be allocated directly to such a¢tivities and those costs of an indirect nature nec*ssary to support them. Page 7
Dalston Agricultural Society Notes to the Flnanclal Ststements for the Year Ended 31 December 2023 . continued Support tosts Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating propety costs by floor areas. or per capita, staff costs by the time spent and other costs by their usage. Fixed assets Individual fixed assets costing £100 or more are initially recorded at cost. Depre¢lallon Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expecled useful economic life as follows: Land at Dalston Showground fixtures Office equipment Trophies Not depreciated 10% reducing balance 250/0 reducing balance Not depreciated Cash and Cash Equlvalénts Cash and cash equivalents comprise cash on hand and call deposits, 8nd other short-tem highty liquid investments that are readily convertible to 8 known amount of cash and are subject to an insignificant risk of change in value. Stock Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Ilems donated for resale or distribution are not included in the financial statements until they are sold or distributed. Donallons and1oga¢leg Unrestrletèd Réstrfetèd Total Funds Total Funds Funds Funds 2023 2022 Donations Subs¢riptions Lif& memb8rships 558 1.509 1.100 3.187 558 1,509 1.100 3,167 413 1,285 1,698 All of the donations and legacies income in 2022 relatsd to unrestricted funds. Page 8
Dalston Agrfcultural Society Notes to the Financial Stat•ments for the Year Ended 31 December 2023 . continued Ra181ng funds Unrestricted Restrictsd Total Funds Total Funds Fund8 Fund¥ 2023 2022 Rent plus wayleave 3,603 3,603 3,603 All of the other trading income in 2022 related to unrestricted funds. Inve31ment incomo Unrestricted Restricted Total Funds Total Fund• Funds Funds 2023 2022 Cumberland accounts 1.224 1,224 181 All of the investment income in 2022 related to unrestricted fvnds. Charltable a¢livities Unreslrlctsd Ro8trl¢tod Totsl Funds Total Funds Fund8 Funds 2023 2022 Da18ton Show Sponsorship Bar facilitl8S Adverts Enty fees Gate and cataloguès Trade stands Drawing less costs 12,807 2,500 430 6.176 27,933 6,039 1,865 57,750 12,807 2.500 430 6,176 27,933 6.039 1,865 57,750 10,394 2,250 1,206 3,617 30,473 7,793 1,532 57,265 All of th8 charitable activities income in 2022 related to r8strided funds. Pa9• 9
Dalston Agricultural Society Notes to the Financial Statements for the Year Ended 31 December 2023 . continued Expenditure Dalston Show Total 2023 Totsl 2022 Dlre¢t ¢osts Barriers, skip hire and generator Rosettes and badgés Affiliation and linsIng Prize money Insuran¢e Posts. straw and grass seeds Trophy ¢leaning and engraving Postage and telephone Computer sothvare and maintenance costs Printing and stationery Hire of tents and loos 6,290 1,479 120 6,971 1,973 146 350 1,534 1.800 3,909 15,414 6,290 1,479 120 8,971 1,973 146 350 1,534 1.800 3,909 15,414 5.500 1,813 236 6,128 2,543 1,655 245 2,420 2,584 4,843 14,198 F11! Hire of hall Hire of entertainment (Show day) Refreshments Security Sundry expenses Sécretarial éxpensès Secretsry's honorarium Advertising Judges, expenses Depreciation of Showground fixtures 75 3.456 1,581 1,800 7,310 471 2,500 407 25 502 58,113 75 3.456 1.581 1,800 7.310 471 120 5,242 1.695 2,160 356 407 25 502 58,113 476 524 61,547 Support eosts Repairs and maintenan¢e Donations Independent examiners fee Bank chargès Depreciation ofoffice equipment 1,145 200 1,145 200 180 313 219 2,057 180 277 227 313 219 2,057 60.170 60.170 62.231 Of the expenditure in 2022 £2,347 related to unrestricted funds and £59,884 related to restricted fvnds. Pap 10
Dalston Agricuftural Soclety Notes to the Flnancial Statements for the Year Ended 31 December 2023 confrnued Govomance eosts 2023 2022 Independent examinerfs fee 180 180 Trustse$' remunerdtlon and expenses No trustee received any r8muneration or expenses during the year. Taxation The registsred charity is exempt from tsxation on income and gains. 10 Tangible fixèd assets Frèèhold interest In land and buildings Flxturet, Ilncluding flttlngs and heritage assets) equlpment Total Cost As at 1 January 2023 Additions As at 31 December 2023 16,216 9,865 75 26,081 75 26,156 16,216 Deprnclatlon As at 1 January 2023 Charge for the year As at 31 DecEmber 2023 3,486 721 4.207 3,486 721 4,207 Net book value As at 31 December 2023 As at 31 December 2022 16,216 16,216 5,733 6.379 21,949 22,595 11 Debtors 2023 2022 other debtor5 464 2,014 Page11
Dalston Agricultural Society Notes to the Financial Statements for the Year Endod 31 December 2023 . continued 12 Crnditors: Amounts falling due withln one yoar 2023 2022 Other creditors Accruals and deferred income 6.332 500 6,832 3.032 500 3,532 13 Rolated partlès Controlling entlty Th8 charity is controlled by the trustees. Related party transactions There were no relatsd paty transaclions that require disclosure. 14 Anatysis of funds At31 December 2023 At 1 January 2023 Incomè Exp•ndilur• G•neral Funds Unrestricted income fund 73,651 7,994 {3.597J 78,048 R¢$tri¢ted Fund$ Dalston Show CIO1512445-1) 8.491 57,750 156,573) 82.142 65,744 160,170) 87,716 Restricted funds arè the funds of Dalston Show CIO linked charity. Page 12
Dalston Agricultural Society Notes to the Flnancial Ststernents for the Year Ended 31 Decembèr 2023 . continued Prlor porfod At1 January 2022 At31 Docember 2022 Ineom• Expenditure Gèneral Funds Unrestricted income fund Restrictsd Funds Dalston Show CIO (512445-1) 70,516 5,482 (2.347) 73.651 11.110 81,626 57,265 62.747 (59,884> (62,231) 8.491 82,142 15 Nèt assets by fund Unrestrlctod Funds Restrlcted Funds Total Funds 2023 Total Funds 2022 Tangible assets Current assets Creditors.. Amounts falling due within one year Net assets 20.441 58,323 1,508 14.276 21,949 72,599 22,595 63,079 1716) 78,048 (6.1161 9.668 (6,832) 87,716 {3,532) 82.142 Prfor period Unrèstrl¢tod Funds Re$trict•d Fun(ts Total Funds 2022 Total Funds 2021 Tangible assets Current assets Creditors: Amounts falling du8 within one yaar Net assets 20.919 53,448 (716) 73,651 1.676 9.631 {2.8161 8,491 22,595 63,079 13.5321 82.142 22,374 63.047 (3,795) 81.626 Page 13