STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS Registered Charity Number 522815 FINANCIAL ACCOUNTS AND TRUSTEES, REPORT FOR THE YEAR ENDED 31ST AUGUST 2024 ANGELA WOODWARD BA(Hons) FCA County Treasurer CIAIRE SIATER Independent Examiner SLATERS & CO AccouNfANTS LTD LYMORE VILIA 162A LONDON ROAD CHESTERTON NEWCASTLE UNDER LYME STAFFORDSHIRE ST5 7JB 24th October 2024
STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS CONTENTS PAGE Contents Statement of Triistees Responsibilities The Examiner's Report The Trustee's Report 415 Income and Expenditiire Account - Income Income and Expenditure Account - Expenditure 718 Balance Sheet 9110 Schedule of Bank Accounts Notes to the Accounts 12 Appendix I - Social Events Summary 13 Appendix II - Spoits & Competitions Summary 14 Membership Details 15 31" Aiigust 2024
STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS STATEMENT OF TRUSTEES, RESPONSIBILITIES The Charity Acts requii'e the Trustees to prepare consecutive Statement of Accounts covering a period of not more than fifteen months duration, which include an Income and Expenditui'e Account and Balancc Sheet. In preparing those Statements of Account, the Trustees are required to: Select suitable 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 accounts. They are also i'esponsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detecting of fraud and other iri'egularities. 31, Aug115t 2024
STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS INDEPEI NDENT EXAMINER'S REPORT TO THE TRUSTEES OF STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS st I report on the Accounts of the Trust for the year ended 31 August 2024 which are set out on Pages 6- 12. Respective Responsibilities of Trustees and Examiner The charity's trustees are responsible for the preparation of the accoiints. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: -examine the accounts under section 145 of the 201 l Act. -to follow the pi'ocedure laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and -to state whether particular matters have come to my attention. Basis of Independent Examiner's Report My examination was cari'ied out in accordance with the General Directions given by the Charity Commissioner. An examination includes a review of the accounting recoi'ds kept by the Charity and a comparison of the accouiits presented with those records. It also includes consideration of any unusual items or disclosures in the accoiints, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do iiot provide all the evidence that would be required in an audit, and consequently no opinioii is given to whether the accounts present a 'ti'iie and fail view, and the report is limited to those matters set out in the statement below. Independent Examiner's Statement In connection with my examination, no matter has come to my attention: (i) which gives me reasonable cause to believe that in any material i'espect the Requii'ements: to keep accounting records in accoi'dance with Sectioii 130 of the 201 l Act, and to prepare accounts which accoi'd witli the accounting i'ecords and to comply with the accounting i'equirements of the 201 l Act have not been met; or (2) to which, in my opinion, attention should be di'awn in ol'der to enable pi'opei" iindei'standing of the accouiits to be l'eached. C Slater Slaters & Co Accoiintants Ltd Lymoi'e Villa, 162a London Road Chesteiton, Newcastle Under Lymc Staffoi'dshii'e STS 7JB 2411012024 31, August 2024
STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS THE TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST AUGUST 2024 The Registered Office of Staffordshire Coiinty Federation of Young Famiers Clubs is The Y.F.C. Centre, County Showground, Weston Road, Stafford, ST18 OBD. The Federation is registered with the Charity Commission, No. 522815. The Trustees were: _ David Heminsley Jon Sarsfield Margaret Bennett John Stone Mark Hawley Angela Woodward Biyce MacKellar Past President and Chair of Ti'iistees Past President, Secretary to the Trustees and Honoi'ary Life President Past County Organiser and Honoraiy Life President County President Past County President County Treasurer Past County and National Chainnan (appointed November 2023) The Trustees al'e elected annually at the first Execiitive Meeting following the Annual General Meeting in November. Tlie object of the County Federation is to: advance the education of young members of the public at large in agi'icultiire, homeci'afts, country life and related subjects: and b) in the interest of the social welfai'e of siich members, to provide and promote the provision of facilities for reci'eation and other leisure time occiipations, being facilities which will improve their conditions of life and will assist in the development of their spiritual and mental capacities, self reliance and individual i'esponsibility so that they may grow to the full matiii'ity as individuals and meinbei's of the community. The Federation is administei'ed by the Executive Committee, which is made up of two representatives from every affiliated Young Farmers Club within the County of Staffordshire together with Coiinty Officers, Vice Pi'esideiits and co-opted meinbei's. Only the two i'epresentativcs from each Cliib may vote on this Committee. The Management Committee is comprised of the Chairman, Vice Chaimian, The President, Treasurer, Personnel Officer, HR Officer, County Trustees and the County Oi'ganiser. Tlu'ee other Committees have existed diiring the clie1]t finaiicial yeai. beiiig Social & Funding, Rally & Show and Competitions. Tliese Committe¢s concentrate on the detailed woi'k of their i'espective i"esponsibilities and report to the Executive Committee. Tlie Trustees consider that the Federation has had a very encoui'aging year in terms of membei'ship levels wliich have i'emained stroiig despite a retui'n to mol'e iiorinal membership subscriptions following tlie heavy siibsidisation post-covid. Events hadn't seen the saine strong recovery as coinpetitions and membership which lead to a full review of the YFC calendai. by menibei's, County Officers and Trustees to work oiit what Inenibers actually want in the calendar as pait of theii. membei'ship. This has pi'oved intei"estiiig and will see changes made over the next few years. Members also want different types of events which the Social aiid Fiindiiig Comniittee ale looking into with Bai'n Dances, Tribute iiights, Bavarian Nights aiid Chai'ity Luncheoiis all beiiig planned. 31, Aiigust 2024
STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS Certain events will continue to be held which will target primarily past young fanners, such as the Annual Vice Presidents Dinner Dance and following the success of the previous tribute nights held in conjunction with Staffordshire & Bimiingham Agricultural Society we will be holding another ABBA Tribute Night in 2025. These events ensure that the YFC movement remains well positioned in the minds of parents, relatives and friends of potential new members. The attached financial statements show the state of the finances at 31 August 2024, which the Trustees consider to be satisfactory. Members of the Trustees and Management committee have contributed significantly towards the updating of policies that cover Standards of Personal Behaviour, Alcohol use and Disciplinary and Complaints Procedures and are currently working on an updated constitution. The Staffordshire County Federation of Young Famiers Clubs has liquid funds totaling £58,081. This represents around five months of average total expenditure for the last 5 years. This figure is slightly less than that recommended by the Charity Commission. The Trustees consider this ratio to be adequate in relation to th¢ activities of the Staffordshire County Federation of Young Farniers Clubs and the ratio should continue in subsequent years. The Staffordshire County Federation of Young Farmers Clubs Bankers are Natwest Bank PLC at 41 Greengate Street, Stafford. The Independent Examiner is C Slater, Slaters & Co Accountants Ltd, Lymore Villa, 162A London Road, Chesterton, Newcastle Under Lyme, Staffordshire, ST5 7JB. SIGNED OIN BEHALF OF THE TRUSTEES: JON SARSFIELD Ti'iistee DAVID HEMINSLEY Ti'ustee 3151 August 2024
STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS INCOME AND ExPEplTuRE ACCOUNT FOR THK YEAR ENDED 31ST AUGUST 2024 ¥COME NOTES 2023124 2023124 2022123 2022123 General Income (unrestricted FuDds) Club Levies Donations 34,020 30,905 - D¢puty & Vice Presidents - SCVYS Donation & Recharges Other 3275 3,165 2,130 1,398 5,405 4,563 Grants Receivedlstaffs County Council Grants BaDk Interest Jnve5ttllent Income Social Events Book of the Year Tuck Shop Marquee Coronavirus Job Retelltion Scheme Gift Aid- Tax reclaimed Fundraising for i'enewals Sundry 2,524 2,199 60,841 4,400 993 700 1,818 2,375 55,053 5,030 942 1,050 540 587 55 146 TOTAL GENERAL tNCON(8 111,677 102,469 Club related Income (Restricted FuDds) 2b Club Insurallce Premiums 3,704 3,404 Office Sales - Club Suppli¢s - Pbotocopying - Membership Cards - Postage and Stationary 40 162 103 293 202 1,242 5,440 396 2,788 5,180 145 17,598 269 Members Training Fees County Show Trophy Engraving Costs Re-imbursed Sports and Co]npetitions Miscellaneous County Tops TOTAL CLUB RELATED fNCOME (Restricted Funds) 12,711 1,652 24,951 29,780 TOTAL INCOME FOR THE YEèiR 136,628 132,249 TOTAL EXPENDITURE FOR THE YEAR (139,287) (146,306) DEFICIT FOR THEI FINANCIAL YEAR 2,659 14,057 The notes on Page 12 forn] part of these Accounts 31st August 2024
STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS INCOMK Af4D EXPENDITtrRE ACCOUNT FOR THE YEAR ENDED 31ST AUGUST 2024 EXPENDITURE NOTES 2023124 2023124 2022123 2022123 General Expellditur¢ STAFF- County Organiser County S¢cretaTial Costs Employer National ]nsuTance Travel Expenses (County Organiser) Other staff costs (inc pension contributions) County Treasurer 20,236 23,103 31,241 17,683 436 1,021 2,470 713 1,250 2,447 TOTAL STAFF EXPENDITURE 47,266 53,334 OFFICE - Ground rent, Business Rates Heat, Light, Water Propety Maintenance Equipment- Repairs & Renewals Telephone & Jnternet Stationery & Thinting Postage Insurance - Building & Contents Sulldry items Wish List Expense Depreciation - Building Fixtures & Fittings 300 4,046 1,042 848 1,746 2,131 736 1,639 1,075 300 2,189 1,029 998 1,834 2,122 583 1,431 834 1,859 329 1,859 213 Ib TOTAL OFFICE EXPENDITURE 15,751 13,392 OTHER couf4TY EXPENDrfuRE County Officers Trav¢1 Affiliation Fees & Subscriptions Awards and Presentations Independent Examination County Show National YFC Levy Promotional Material Book of the Year Tuck Shop Social Events Sundry Bad debts Marquee 653 735 249 480 2,949 16,314 480 3,299 17,155 3,602 410 32,189 2,177 3,286 462 34,315 683 - Transport, Erection & Insuronce Depreciation 172 io 150 12 TOTAL OTHER COtrNTY EXPENDITtrRE 58,956 60,826 TOTAL CARRIED FORWARD 121,973 127,552 The notes on Page 12 forni part of these Accounts 31st August 2024
STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS INCOME AND EXPENDITURE ACCOUNT FOR THI YEAR ENDED 31ST AUGUST 2024 XPENDITURE Continued...... NOTES 2023124 2023124 2022123 2022123 TOTAL BROUGHT FORWARD 121,973 127,552 CLUB RELATED ExpEf4DITUR Club Insurance Premiums Membership Cards Members Training Fees Club Supplies (adjusledfor slocks ) Sports and Competitions Trophy Engraving Costs County Tops Other sundry costs TOTAL CLUB RELATED EXPENSES 2b 3,892 3,591 1,689 2,522 10,949 784 12,410 231 17,314 18,754 TOTAL EXPENDITURE FOR THE YEAR 139,287 146,306 31st August 2024
STAFFORDSHIRE COUNTY FEDERATION OF YOUNG FAlERS, CLUBS BALANCE SHEET AS AT 31ST AUGUST 2024 2024 2024 2023 2023 FIXED ASSETS Leasehold Buildings Book Value from prior year Additions Depreciation 20,638 22,497 1,859 1.859 18,779 20,638 Fixtures and Fittings Book Value from prior year Additions Depreciation 436 529 329 299 349 212 636 436 Marquee and Show Equipment Book Value from prior year Depreciation 49 io 61 12 39 19,454 49 21,123 URRENT ASSETS Stock Debtors and Prepayments Loans - Staffs & Birmingham Agricultural Society Cash at Bank: Bank Accounts - sec notes on page I I Investment Accounts - see notes OTh page I I 6,762 250 3.642 250 57,018 94,786 61,143 85,433 151,804 146.576 282 150.750 Cash Floats CURRENT ASSETS 159,879 CURRENT LIABILITIES Sundry Creditors and Accruals NET ClnUiENT ASSETS 1,34 158,532 5.229 145,521 NET ASSETS 177,986 166,644 rEDERATION IiESERVES General Fund As at start of year Deficit foT Financial Year Change in value of Investments Transfer from Donnant YFC funds As at end of year Othei. R¢serYes Rural Hub Business Award Fund Training Fund (Forn]erly Staffs Prof T¢st Committee Training Fund) Supplementary Fund Dorn)ant YFC Reserve At start of year Interest Received Transferred into Dormant YFC Reserve - for clubs closing Transferred to General Fund - clubs reopening 149,155 (2,659) 9,353 162.911 (14,057) 301 155,849 149,155 1,804 18,619 1,046 14,819 1,624 90 1,572 52 1,624 166,644 TOTAL RESERVES 177 986 31st August 2024
STAFFORDSELtRE couNrY FEDERATIOIY OF YoifNG FARMERS, CLUBS Balance Sheet approved by the Board of Senior Trustees on the 24 October 2024 Jon Sarsfield . David Heminsley ...... . The notes set out on Page 12 fonn Part of these Accounts. io- 31st August 2023
STAFFORDSlitBE COUNTY FEDERATION OF YOUNG FARMERS, CLUBS SCHEDifLE OF BANK AND INVESTMEFIT ACCOUNTS - 202312024 Balanee at 31 August 2024 Balance at 31 August 2023 Natwest Dorniant YFC Account 83 81 Natwest Business Reserve Account Natwest Cuent Account 11,668 10,408 COIF Charities Deposit Fulld * Total liquid fidS alld deposits with Bal3 45,266 50,653 57,018 61,143 * Includes Dorniant YFC funds totalling £1,714 (31 August 2023 - £1,624). Investments Schroders Charity Equity Fund Account Schroders Charity Bond Account CCLA Charities Investment Fund CCLA Charities Global Equity Fund Balance at 3 1st August 2023 20,383 42,545 22,505 Investments made during the year Change in value of InvestrtLents 3,018 3,423 2,912 Balance at 3 1st August 2024 23,401 45,968 25,417 Investment Return The return on iJ]vestments on the average capital balance invested during tbe year was as follows".- Average capital balance invested Incorne reeeivable in the year Return OD investment COIF Charities Deposit Fund (including Donnant YFC Funds) SchrodeT & CCLA Investlnents 2,523 2,289 62,631 90,110 Subtotal 4,812 152,741 Other Interest Received (Business premium account) Total interest and invesirnent income (including Dorn]ant YFC fLmds) 4,813 li 31st August 2024
STAFFORDSHKRE COUINTY FEDERATION OF YOUNG FARMERS, CLUBS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2024 I. ACCOUNTING POLICIES Statement of compliance The fancial statemeThts have been prepared in accordance with Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accoi'dance with Ihe Financial Repoiling Staiidard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)), Ihe Financial Reporting Standard applicable in tlie UK and Republic of Ireland (FRS 102) and the Charities Aci 2011. Depreciation Depreciation is calculated to write off the cost or valuation less estimated residual value of tangible assets over their estimated useful lives at the following i'ate5.' Leasehold Property is shown in the Balance Sheet at Net Book Value and depreciation is being written off over the lenn of the lease of 60 years in equal annual amoiinls. Depreciation is charged in eqiial installments on subsequent improvements over a useful life as deemed appropi'iate for each individual iinprovement. The property is currently insured for £380,523. Fixtures and Fittings - 15 % per annum on the reducing balance. Computers are depreciated over Iwo years. Marquee and Show Equipment _ 200/0 per annum on the reducing balance. These items are currently insured for a replacement value of £44,001. b) Stocks Stock is valued at the lower of cost and net re-saleable value and provision is niade against slow moving items. We also hold a slock of costumes for drania and pantomime competitions which were gifted to the Federation. These are nol i'eflected in the balance sheet but have a value of approxinialely £3,245. Trophies All trophies owned by the Federation al 3 IAugust 2024 ivei-e valued by an independent valuei. during the financial yeai. to 31, August 2016 and ivere deemed to have the value of £27,640 for insiii'ance puiposes. This value Nvill nol have changed significantly since that date. These trophies are not reflected in the balance sheet and neither are any subsequently acqiiired trophies. Recognition of Income and expenditiire The accruals basis of accounting has been applied to detennine the income aiid expenditure account. Any known expeiise that relates to the current fmancial year are accrued for in creditors at the yeai- end and any an]ounts received that relate to future accounting periods are treated as deferred income aiid held on the balance sheet ivithin crediloiB. Investment Valuations Investments are included within the balance sheet at thell. year-end valuation. Any change in value is accouiited for on Ihe balance sheet as a Change in valuation of Investments. 2. DEFINITIONS Unresti'icted Fuiids - Funds available to the trnstee5 to apply for the general puipose of the Fedei'ation, as sel out in its goveriiing document. Restricted Funds - Fiinds that 1< re designated to apply for specific pui-poses by benefactoi-s anOr affiliated organisalions i.e. National Fedei'<1tion of YFC'S oi- Clubs iviihin the County. b) 3. DONATIONS and GRANTS The majoi-ity of the Deputy aiid Vice Pi'esidenls Inade a donalion to the Federation in the yeai.. Iiicludes grants applied foi. and i'eceived during the finaiicial yeai.. b) 4. CREDITORS. This includes funds i'eceived that relate to a period beyond the balance Sheet date. 5. SOCIAL EVENTS. Surpluses from Social and Fundiiig events are detailed in Appendix l. 6. SPORTS AND COMPETITIONS. Tlie cost and inconie relating to Compelilions are a5 per Appendix Il. 31, Aiigiist 2024 12
STAFFORDSHtRE COUNTY FEDERATION OF YOUI¥4G FARMERS, CLUBS APPEP4DIX I SOCIAL EVENTS - 2023124 Event Income Expenditure Surplusl(Deficit) Harvest Festival Barn Dance AGM Raffle County AGM Paddock Suite Back in tbe Day Do Cbristnw Tractor Run Christmas Shopping Evening Santa Send Off Disco Turnout Ball Spring Event Rally Evening Event Pre Show Reception Tribute Nigbt Summer Ball ChairEnans Charity Lunch Sundry Event ¢xpeDses Joules Sale Sundry Events Wrist bands 176 215 1,575 (39) 2,272 768 3,847 878 321 5,371 3,242 221 (321) 1,927 2,610 3,823 775 2,647 7,298 5,852 4,044 775 3,047 400 2,384 600 3,923 6,334 3,155 1,844 822 3,775 2,534 148 540 (222) 148 3,800 3,007 850 4,692 85 850 2,326 147 2,366 (62) Sub Total - Members Organised Events 47,940 23,051 24,889 County Dinner Dance 12,901 9,138 3,763 Vice Presidents Fund Raising Evellts 12,901 9,138 3,763 TOTALS 60,841 32,189 28,652 13- 31st August 2024
STAFFORDSHIRE COUTr4TY FEDERATION OF YOUNG FARMERS, CLUBS APPENDIX II SPORTS AND COMPETITIONS - 2023124 cOPetItion Income Expellditure Surplllsl(Deficit) Carcase Judging English Winter Fair Football Competition Pool Competition Volleyball Basketball Roulld¢rs Mixed Hockey Go-Kartkng County Quiz Ten Pin Bowling Senior Memb¢r of th¢ Year Junior Member of the Year Dancing Competition Junior Public Speaking Interniediate Public Speaking Senior Public Speaking Silage Competition Treasure Hunt Dairy Stockjudging Sto¢kman of tbe Year WMA Competitions Contiibution County Rally Clay Pigeon Shooting NFYFC Sto¢kman of the Year F¢nce Erecting Cookery Competition County Show Floats Cricket League WMA Public Speaking Tug of War Raft Ride NFYFC Competitions Day Competitions Fine5 Competitions Sundry Club Conlribution to Catering costs (3) 43 70 12 43 1,190 12 326 1,120 326 320 199 821 121 817 54 54 (4) 54 54 (40) 54 54 54 40 54 54 54 io io (268) (195) (350) 1,946 200 150 468 345 350 3,472 5,418 65 1,300 1,368 224 65 loo (192) 83 (20) (245) 1,200 1,560 141 20 463 708 100 270 25 151 75 119 165 165 12,711 10,949 1,762 Note: The above list represents only the competitions on which the Staffordshire County Federation of Young Farmers, Clubs either received funds or incutTed costs. 14- 31st August 2024
STAFFORDSHtRE COUIYTY FEDERATION OF YOUNG FARMERS, CLUBS COUNTY MEMBERSHIP NUMBERS - 2023124 COMPETING AGE MEMBERS Age Group Total Last Year Under 16 275 325 Under 21 197 227 Under 28 113 117 TOTALS 585 669 ASSOCIATE iIqEMBERS Total Last Year Clubs County Total -15- 31st August 2024