STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS Registered Charity Number 522815 FINANCIAL AccouNfs AND TRUSTEES, REPORT FOR THE YEAR ENDED 31ST AUGUST 2022 ANGELA WOODWARD BA(Hons) FCA County Ti'easui'er SIMON BARRA Independent Examiner SLATERS & CO ACCOUNfANTS LTD LYMORE VILLA 162A LONDON ROAD CHESTERTON NEWCASTLE UNDER LYME STAFFORDSHIRE ST5 7JB 24th October 2022 STAFFORDSHIRE COUNTY FEDEIi4TION OF YOUNG FARMERS, CLUBS CONTENTS PAGE Contents Statement of Trustees Responsibilities The Examiner's Report The Trustee's Report 415 Income and Expendittire Account - Income Income and Expenditure Account - Expenditure 718 Balance Sheel 9110 Schedule of Bank Accoiints Notes to the Accounts 12 Appendix l - Social Events Summary 13 AppendiK Il - Sports & Competitions Summary 14 Membership Detatls 15 31, AiiEllSt 2022 STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS STATEMENT OF TRUSTFES, RESPONSIIIILITJES The Charity Acts require the Trustees to prepare consecutive Statement of Accounts covering a pei'iod of not more than fifteen months duration, which include an Incoin¢ and Expenditure Account and Balance Sheet. In preparing those Statements of A¢¢ounl, the T￿SteeS 2re reqiiired to.. Select Sllitable accounting policies and then apply them consistently. Make judgements and estimates that are reasonable and prudent. The Trustees are responsible for keeping proper books of accoiints. They are also responsible for safegiiarding the assets of the Charity and hence for taking I'edsonable steps for tlie prevention and deleeting of fraud and other iri'egiilarilies. 31, AuRILSt 2022 STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS INDFPFNDENT EXAMINER'S REPORT TO THE TRUSTEES OF STAFFORDSHIRE COUNTY FEDERATIOTrJ OF YOUNG FARMERS, CLUBS I report on the Accounts of the Trusi for the year ended 31, August 2022, which are set out on Pages 6-12. Respective Responsibilities of Trustees and Examiner The charity's trustees are responsible for ihe preparation of the aecoiints. The charity's ts'iistees consider that an aiidit is not required for this year undei- section 144(2) of the Charities Act 2011 (the 201 l Acl) and that an independent examination is needed. It is my responsibility lo.. -examine the accoiints under seclion 145 of the 201 l Act. -to follow ihc procedure laid down in the General Directions given by the Charity Commission linder section 145(5)(b) of the 201 l Act. and -to slate wheth¢r particular matters have come to my attention. Basis of Independent Examiner's Report My examination was ca￿Led oiit iii accordance with tl)¢ General Directions given by the Charity Comini%sioner. An examination includes a review of the accouiiting recoi'ds kept by the Charity and a compai-ison of the accoiints presented with those i'ecords. It also includes considei'ation of any unusiial itcms or disclosures in tlie accounts, and the seeking of explanations from you as trustees concerning any siich matters. The pi'ocedures undertaken do iiol provide all the evidence that would be required in an aiidil, and consequently no opinioii is given lo wheihei. th¢ accounts Present a 'true and fail. view, and tli¢ report LS limited to those matters set out in tlie statcm¢nl below. Independent Examiner's Statement In connection with my examination, no mattel- has come to my allention.. (i) wliicli gives me i'easonable cause to believe that in any material respect the Requirements: lo keep accounting records in accordance with Section 130 of the 201 l Act, aiid to prepai'e accounts which accord Nvitli the a¢¢ounling records and to comply with the accounting i'equiremenls of the 201 l Act have not been n)et' oi- (2) lo which, in my opiiiion, attention shoiild be di'awii iii oi'dei. to eiiable pi'oper understandiiig of the accounts lo be l'eached. S Bariatl Sl Costs County Tops Othej. siindry costs TOTAL CLUB RELATED EXPENSES 2b 1,476 339 1,363 3,364 206 10,424 366 1,032 79 2,736 438 157 15,079 7.042 TOTAL EXPENDITURE FOR THE YEAR J25.798 71,223 31st August 2022 STAFFORDSHIRE COUNTY FEDERATION OV YOUNG FARMERS, CLUBS BALANCE SHEET AS AT 31ST AUGUST 2022 2022 2022 2021 2021 FIXED ASSETS Leasehold Ruildings Book Value fTom prior y¢ar Addjtions Dep[eL￿allOn 24,356 26,424 1,859 2,068 22,497 24,356 Fixthres and F5ttlngs Book Value froin PriOT year Additions Deprectation 576 363 499 286 277 299 576 Marqiie¢ and Shoiy Equipment B(?ok Valiie from prior year Depieciation 76 15 95 19 61 22,857 76 25,008 CURREf+rf ASSETS Stock Debtvrs and PrepaJThents Loans - Staffs & Birniingham Agticuliural Society Cash at Bank.. Ilank Accounts - see notes on page I I Inveslmcnl A¢counts- see notes on page I I I,ios 250 2,150 250 70,333 93,376 76,508 99,312 163,709 144 16S,208 175,820 Cash Float5 CURRENT ASSETS 178,43 1 CURRENT LIABILITIES Sundry Cie(liitsts and Accrudls NET CURRENT ASSETS (5,355 173,076 157,353 NET ASSETS 180,210 198,084 FEDERATION RESERIIES Geiieral Fund As at slart of year Defityit for Financial Change in value of Inve5tmenlS Tian51er from DorniaTht YFC funds As al end vf year Other Resen, Riiral Hiib Biisine5s Award Fund Traiiiing Trund {Forinerly Staff5 Prof Tesi Cotnmittee Training Flind} Supplcineniary Flind Domiant YFC Reserve Al stai1 of )'eaT Iiiteresl ReLeii'eii Tran%ferred into Doi￿￿nt YFC Reseive - for Llub5 ¢ltssin Transferyed to Genernl Fiind- clubs reopelling 179,251 (10,404) IS,936) 173,029 {5,190) 162,911 179.251 1,73S 13,Y92 71)(> 16,560 ,567 1,567 1,572 180.210 1,567 198,084 TOTAL RESERVES 31st August 2022 STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARf¥lERS' CLUBS Balan¢¢ She¢t approved by the Board of Senior Trust¢¢s the XX October 2022 Jon Sarsfield David T Beswiek The notes set out on Pag¢ 12 form Part of these Accourtls. io- 31st August 2022 STAFFORDSHTRE COUNTY FEDERATION OF YOUNG FARTrIERS' CLUBS SCHEDULE OF BANK AND INVESTMENT ACCOUNTS - 202112022 Balance at JI Au%ust 2022 Balance at 31 Au￿ust 2021 Natwest Dormant YFC Account 81 81 Natwesi Business R¢serYe Account Natwegt Current Account 11,467 10,879 COIF Charities Deposit Fund * 58,784 65,547 Total liquid fiinds and deposits with BaTd(s 76,508 * Includes Dormant YFC funds toialling £1,572 (31 August 2021- £1,567). Iiivestments Schroders Cliarity Equity Fund Account Schrodeis Charity Bond Account CCLA Charities Investment Fund CCLA Charities Global Equity Fund Balance at 3 1st August 2021 19,508 11,7(19 45,413 22,682 Inveslmenrs made during the year Chang¢ in valu¢ of Invcstments (1791 12.4971 {2,023) 11,2371 Balaiice at 31st August 2022 19.329 9,212 43,390 21,445 Investment Retur The ielum on invcstrnenls orl the average capil41 balancc invest¢d during thc year was as folloivs.'- Averfige chpital bAlance invested Income reeeivablc in the year Return on investment COIF Charities Deposit Fiind lin¢luding Dornthnt YFC Fiinds) 68,714 0.340/. Schroder Inv¢sttnents 2,176 29,%79 7.28Q/ Subtotal 2,412 98,593 Oihci. Interest Received {Business pr¢miuin accoiint) Toial interest and investmcnt inconie (including Dormani YFC fund5) 2.412 31st August 2022 STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2022 I. ACCOUNTING POLICIES Statement of e(>mplianee Thc financial statcmcnts httve been prepared in accordance with Aceounting and Reporting by Chai'ities.. Statement of Rtcommcndcd Practice applicable lo tharilits pi"eparing their accoiints in acKordan¢c with the Financial Roporting Si&ndard applicablc in the UK and Rcpiiblic of Irelattd (FRS I 02) IChariti¢s SORP (FRS 111211, lh¢ Financial Reporting Standard applicablc in the UK and Rcpiiblic of ITeland (FRS 102) and th¢ Charities Act 2011. Depreeiation DepTeciation is calculatcd to i￿11¢ off the cost or valuation Icss cslimatcd rcsidual Yalu¢ of tangiblc a5SCts over their esiiTnated iisefiil livcs at the following rates." Lcaschold Propcrty is shown in the Blllancc Shcct at Net Book Valiie and dcpre¢iation is being writt¢n off ovcr thc Icrni of thc Icllsc of 60 years in equal annual amounts. Depr¢ciation is charged in cqual installments on subseqiLClIt improvcments over a useful life as dcemcd appropriatc for ca¢h individual improvcm¢nt. The propcrty is currently insiired for £320,538. FiX￿re5 and Fittin&f - 150/0 pcr annum on the reducing balan¢¢. Computers are deprcciated ovcr two y¢ars. Marqiie¢ and Shoiv FA]uipm¢nt - 20/0 pcr annum on th¢ reducing balanc¢. Th¢s¢ itcms 4r¢ curr¢ntly insiircd for a rcpla¢cment value of £36,903. b) Sto¢k5 Stock is valued at the lowier of cost and net r¢-saleable valiie and provision is made against sloiv moving items. We al80 hold a stock of costumes for drama and pantomin)c competitions which wcre gifted to the Fedcialitsn. These are not reflected in the balancc shcet but havc a valuc of appioximlltely £3,245. Trophies All trophies owned by the Federntion at 31 Aiigust 2022 werc valiied by ah indcpcndcnt valiier during th¢ ftnancial year to 31, Aiigust 2016 hnd wcrc deeTned to hav¢ the Vciluc of £27.640 for insLirancc piirposes. This valuc will nol have ehangcd significfintly sincc that datc. Tliese trophies clrc not rcflcctcd in th¢ balancc sh¢ct and Thcithcr arc any siibseqiiently acqiiired trophi¢s. Recognitioii of Income gnd e%penditvre Th¢ ac¢nial$ basis of accoiinling has b¢¢n applicd to d¢t¢miin¢ thc income and cxpcnditiire account. Any knoivn cxpcnsc that rclatLs lo tlie currcnt fiiian¢ial y¢ar arc accriicd for iii crcdilors al Ihc year eFLd and any amoiiiits L-e¢eived that relcile lo fiiture accoiinting periods arc treat¢d as dcfcrred in¢omc and held on the balance sheet within ci'edilois. Investment Vgliiations Due its a change in clccounting policy invcstmcnts ar¢ noiv in¢liided iviihit) the balance sheet at their year-end valiiation. Any change in value is accounied for on the balance sheel as a Change in valuation of Investments. 2. DEFINITIONS Unrcslricled Flind5 - Fiinds <1vailable to the trLislees to apply for the general piirpose of the FcdeTation, as sei oiit in lis govcrniiig docymcnl. RestFEcied Fiinds- Fiinds tlil¢ i arc dc8igni¢ tcd 10 cipply for specific i)Eirposes by bcncfactors andlor ￿lfrI]ll£ Icd organisa¢ioiis i.c. Ni alioncil Fedciation of YFC'S or Cliib5 Wltliin Ilic Coiinty. b) 3. DOYI ATIONS and GRANTS Tlic lliajority of thc Dcptity and Vicc Prcsidents made cl donation to the FedcrHtion in tlic year. lrtcliides gnnts applicd for and re¢eiv¢d diiring thc financial yeftr. b) 4. CRF.DITORS. This incliidcs fiinds rceeived ihat rclatc to a period bcytsnd the balance 5hcet date. S. SOCIAL EVF.NTS. SuTpIIiscs from Social and Fiinding cvenis aTe detailed in Appcndix l. 6. SPORTS AND COIVIPETITIONS. The cost and incomc rel%lting to Competition5 are as per Appendix 11. 31. Aiig1151 2022 STAFFORDSHIRE COUNTY FEDERATION OF Youf4G FARMERS, CLUBS APPENDIX I SOCIAL EVENTS- 2021122 Event Ineome Expendi￿re SurpluslO)tfi¢it} Hbrvest Festiyal 231 312 (81) ,981 666 Autumn Ball AGM Raffle County AGM County AGM Disco Christmas Tractor Run Christmas Shopping Evening Santa Send Off Disco 3,471 761 288 1,490 95 373 {85) 7,364 2,136 85Q 3,982 168 3,382 1,968 1150 Neiv Year Ball 4,173 5,066 1,890 600 858 3,315 3,371 1,322 1295) 1,510 2,133 778 Spring Event Rally F.venin8 Event Pre Shoiv Reception Counry Shoiv Dan¢¢ Sum]ner Ball Meakins Tractor Run 1,695 508 895 3,386 7,022 2,391 7,360 898 5,454 76 1,876 4,889 1,613 3,368 ABBA Night Joules Sale Sundry Events Wrist bands 3,992 898 2,286 (Is) 3.168 91 Sub Total- Members Organised Events 53,417 25,381 28,036 County Dinn¢r Dance 21,315 14,256 7.059 Vice Presidents Fund Raising Evemts 21.315 14,256 7,059 TOTALS 74,732 39.637 35,095 13- 31st August 2022 STAFFORDSHIRE COUIYTY FEDEIL4TIOIN OF YOUNG FARi¥IERS' CLUBS APPENDIX II SPORTS AIYD COMPETITIONS- 2021122 Competltlon Income Expenditure Surplu$l(Defi¢itl CdrLas¢ Judging En¥lish Wint¢T Fair Sunday Lea￿le Football Pool Compctition Volleyball Male Sports Female Sp(Itts' Mixed HoLkey Go-Karting Counry Qui7. Ten Pin Bowling Senior Member of Ihe YeaT 910 27 330 910 27 {40) 370 210 210 1.125 95 630 ,125 89 630 Jut]ior Memb¢r of the Year Cheerleading Juiiior Public Speaking Inlermediatc Public Speaking S¢nior Publi¢ Speaking Silage Competition Treasure Hunt Dairy Sio¢kjudgin¥ Stockman uf tlie Year WMA CoJnpelition5 ConlTibution Couniy Rally Clay Pigcon Shooling NFYFC Stockrnan of the Year 19 50 23 27 150 458 356 40 (206) 50 350 2,965 5,712 2,747 Fence Erecting C (57) (78) 25 1,050 1,080 134 1,107 1,158 109 50 {50) 90 470 380 134 475 150 134 237 150 238 13,190 10,424 2,766 Nolc.. Tlie above libl repr¢benls ()nly Ilie ¢oinpelitions on ivhi¢h Ili¢ Siaffoixlshire Couiily Federaiion of Yovng F421"In¢rs' Clubs ciilicr rcccivcd fiinds or incutr¢(I cosis. 14- 31st August 2022 STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS COUNTY I*lETrIBERSHIP ￿'UMBERs- 2021122 COMPETING AGE MBERS Age Gi'oup Tot41 Last Year Under 16 324 78 Undcr 21 243 144 Und¢r 28 129 69 TOTALS 696 291 ASSOCIATE MEMBERS Total Last Yeai. Clubs County Total Nole.. Membership in 2020121 was affecled by the Covid-19 outbreak. -15- 31st August 2022