Charity Registration No. 524412
SHROPSHIRE FEDERATION OF YFC
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
SHROPSHIRE FEDERATION OF YFC
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr W Allen Mr D Roberts Mr H Jones R Cooper Mr C Potter Mr F J Allen Mr A Joynt Mr O Roberts Mr J Dale
(Appointed 12 October 2019) (Appointed 12 October 2019) (Appointed 12 October 2019) (Appointed 12 October 2019) (Appointed 12 October 2019) (Appointed 12 October 2019) (Appointed 11 October 2019)
Charity number 524412 Principal address YFC County Office Shrewsbury Livestock Market Bowman Way Shrewsbury Shropshire England SY4 3DR
Independent examiner
Azets 5 - 7 Beatrice Street Oswestry Shropshire SY11 1QE
SHROPSHIRE FEDERATION OF YFC
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 17 |
SHROPSHIRE FEDERATION OF YFC
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2020
The trustees present their report and financial statements for the year ended 31 August 2020.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The charity's object ive s are:
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To advance the education of young members of the public at large in agriculture, home crafts, country life and related subjects.
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The provision of facilities for recreation and other leisure time occupation.
Significant activities
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Throughout the year the charity would normally host a wide range of activities all over Shropshire targeted at those aged between 10 and 26. These activities would help our members to build self-confidence through public speaking, performing and outdoor events to name but a few. This wide range of activities means that all our members can find something to excel at and opportunities always exist for our members to aid with the organisation of events, further improving transferable skills and self-confidence. This year however has been particularly affected by the Covid-19 pandemic and there has regretfully, but inevitably been a significant reduction in the programme provided to members.
Achievements and performance
Some of the many activities carried out by Shropshire Federation of Young Farmers were as follows:
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Many drama events took place throughout the year. It was great to see so many clubs and members on stage performing, whether in the drama competition or in the One Plus competition.
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Public speaking competitions were also held and the trustees were pleased to see increased participation in those competitions.
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A successful training weekend was also held at the beginning of the year to welcome newly elected officials from all 18 clubs and county committee office holders. The trustees were pleased to see wide participation in the weekend and encouraged by the positivity displayed by the attendees after the event, along with an increased awareness of the responsibilities that are associated with the offices they have taken on.
While the trustees were inevitably saddened to see the cancellation of the organisation's significant annual fundraisers and show piece events such as the County Rally, County Show and County Chairman’s Ball they were pleased to see that clubs had adapted to the challenges of a global pandemic and were very impressed by ingenuity of individual members and the speed with which the federation's member clubs embraced the digital technology and remote meeting.
Financial review
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SHROPSHIRE FEDERATION OF YFC
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
It is the policy of Shropshire Federation of Young Farmers to maintain unrestricted reserves at a level which equates to 12 months operating expenditure. This provides back up funds for situations such as cancelled social arrangements and the replacement of essential assets.
We are always conscious of the risks of having to cancel fund raising events at very short notice and due to circumstances completely out of our control, for example a rural disease outbreak, weather conditions or as we have seen this year a global pandemic. Traditionally we would hold our largest fund-raising event only a few days before the end of the year and the cancelation of the 2020 County Chairman’s Ball has had the inevitable catastrophic effect on the county’s finances.
Having recovered from the previous downturn in our finances the County Federation has again found itself in a position where expenditure has exceeded income and we have needed to draw on our reserves. The board of management has responded to this by taking action to co-opt further role specific members to the board.
Conscious of the uncertain year ahead in the face of the Covid-19 pandemic the investment review has been postponed to ensure the organisation has sufficient liquid assets to smoothly maintain the organisation though what is currently a very unforecastable and unprecedented period going forward.
The trustees remain committed to ensuring the federation is able to “bounce back” better than ever when conditions allow, providing maximum benefit to the membership base. In the meantime, the trustees are continuing to access as many grants and subsidies as possible to bolster the income, while continuing to utilise the furlough and job support schemes as provided by Her Majesties Treasury. However, the trustees are mindful that the organisations reserves are not unlimited and are regularly meeting to assess the major risks and unprecedented circumstances to which the charity is exposed, and are satisfied that management systems are in place to mitigate exposure to aforementioned major risks. The trustees also continue to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity was registered 8 January 1973 and is governed by its constitution adopted 4 December 1971 and amended 1 November 2002. We are now governed by an updated constitution adopted on 11th November 2017.
| The trustees who served during the year were: | |
|---|---|
| Mrs J Dixon | (Resigned 1 September 2019) |
| Mr W Allen | |
| Mr D Roberts | |
| Mr H Jones | (Appointed 12 October 2019) |
| R Cooper | (Appointed 12 October 2019) |
| Mr C Potter | (Appointed 12 October 2019) |
| Mr F J Allen | (Appointed 12 October 2019) |
| Mr A Joynt | (Appointed 12 October 2019) |
| Mr O Roberts | (Appointed 12 October 2019) |
| Mr J Dale | (Appointed 11 October 2019) |
New trustees are appointed in accordance with the constitution: 5ii The board of management shall appoint trustees from their committee and will comprise of the Chairman of the Management Committee, County President and County Treasurer.
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SHROPSHIRE FEDERATION OF YFC
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
The trustees' r eport was approved by the Board of Trustees.
..............................
Mr H Jones
Trustee Dated: .........................
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SHROPSHIRE FEDERATION OF YFC
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF SHROPSHIRE FEDERATION OF YFC
I report on the financial statements of the charity for the year ended 31 August 2020, which are set out on pages 5 to 17.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the financial statements. 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:
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(i) examine the financial statements under section 145 of the 2011 Act;
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has no w been withdrawn.
I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with section 130 of the 2011 Act; and
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(ii) to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act;
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have not been met or
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(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Azets Holdings Limited 5 - 7 Beatrice Street Oswestry Shropshire SY11 1QE
Dated: .........................
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SHROPSHIRE FEDERATION OF YFC
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020
| Unrestricted Restricted funds funds 2020 2020 Notes £ £ Income from: Donations and legacies 3 34,116 - Other trading activities 4 27,203 - Investments 5 1,277 - Total income 62,596 - Expenditure on: Raising funds 6 20,752 - Charitable activities 7 89,881 200 Total resources expended 110,633 200 Net expenditure for the year/ Net movement in funds (48,037) (200) Fund balances at 1 September 2019 289,042 1,082 Fund balances at 31 August 2020 241,005 882 |
TotalUnrestricted Restricted funds funds 2020 2019 2019 £ £ £ 34,116 25,680 - 27,203 175,094 - 1,277 1,039 - 62,596 201,813 - 20,752 122,151 - 90,081 88,932 750 110,833 211,083 750 (48,237) (9,270) (750) 290,124 298,312 1,832 241,887 289,042 1,082 |
Total 2019 £ 25,680 175,094 1,039 201,813 122,151 89,682 211,833 (10,020) 300,144 290,124 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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SHROPSHIRE FEDERATION OF YFC
BALANCE SHEET
AS AT 31 AUGUST 2020
| Notes Fixed assets Tangible assets 10 Current assets Stocks 11 Debtors 12 Investments 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Income funds Restricted funds 16 Unrestricted funds |
2020 £ 1,357 22,578 2,000 229,602 255,537 (14,392) |
£ 742 241,145 241,887 882 241,005 241,887 |
2019 £ 1,357 23,925 2,000 279,536 306,818 (17,695) |
£ 1,001 289,123 290,124 1,082 289,042 290,124 |
|---|---|---|---|---|
The financial statements were approved by the Trustees on .........................
.............................. Mr H Jones Trustee
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SHROPSHIRE FEDERATION OF YFC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
Charity information
Shropshire Federation of YFC is a charity governed by its Constitution adopted November 2017.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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SHROPSHIRE FEDERATION OF YFC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
50% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.8 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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SHROPSHIRE FEDERATION OF YFC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.11 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13 Taxation
The charity is exempt from tax on its charitable activities.
1.14 Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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SHROPSHIRE FEDERATION OF YFC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Subscriptions NFYFC affiliation fee Sponsorship Other trading activities Training Fundraising events Other trading activities |
2020 £ 38,838 (19,928) 15,206 34,116 2020 £ 3,620 23,583 27,203 |
2019 £ 36,075 (15,795) 5,400 25,680 2019 £ 4,760 152,414 175,094 |
|---|---|---|
4 Other trading activities
5 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2020 | 2019 | |
| £ | £ | |
| Interest receivable | 1,277 | 1,039 |
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SHROPSHIRE FEDERATION OF YFC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
6 Raising funds
| Cost of merchandising and events Dances and social events Shropshire Country Show Chairman's ball Competitions Advertising Merchandise Cost of merchandising and events For the year ended 31 August 2019 Cost of merchandising and events |
2020 £ 3,553 112 8,114 6,695 2,278 - 20,752 20,752 |
2019 £ 30,592 3,289 63,192 9,374 2,536 13,168 122,151 122,151 122,151 |
|---|---|---|
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SHROPSHIRE FEDERATION OF YFC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
| 7 Training Donations Other resources expended 2020 2020 2020 £ £ £ Staff costs - - 51,593 Depreciation and impairment - - 737 Training 11,094 - - Donations - - - Insurance - - 5,691 Light, heat and rent - - 3,138 Telephone - - 2,089 Postage and stationery - - 3,679 Promotion costs - - 2,068 Mileage - - 812 Officer expenses - - 144 Office costs - - 3,592 Accountancy - - 3,228 Sundries - - 2,216 Software subscriptions - - - 11,094 - 78,987 11,094 - 78,987 Analysis by fund Unrestricted funds 10,894 - 78,987 Restricted funds 200 - - 11,094 - 78,987 For the year ended 31 August 2019 Unrestricted funds 10,105 2,500 76,327 Restricted funds 750 - - 10,855 2,500 76,327 |
Charitable activities Total 2020 Total 2019 £ £ 51,593 45,302 737 1,000 11,094 10,855 - 2,500 5,691 5,373 3,138 3,722 2,089 1,931 3,679 5,929 2,068 3,458 812 1,249 144 288 3,592 4,147 3,228 988 2,216 2,520 - 420 90,081 89,682 90,081 89,682 89,881 88,932 200 750 90,081 89,682 88,932 750 89,682 |
|---|---|
8 Trustees
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
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SHROPSHIRE FEDERATION OF YFC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
9 Employees
Number of employees
The average monthly number of employees during the year was:
| 2020 | 2019 | |
|---|---|---|
| Number | Number | |
| Employees | 2 | 2 |
| Employment costs | 2020 | 2019 |
| £ | £ | |
| Wages and salaries | 51,593 | 45,302 |
| 51,593 | 45,302 |
There were no employees whose annual remuneration was £60,000 or more.
10 Tangible fixed assets
| 10 | Tangible fixed assets | ||
|---|---|---|---|
| Fixtures, fittings & equipment | |||
| £ | |||
| Cost | |||
| At 1 September 2019 | 15,039 | ||
| Additions | 479 | ||
| At 31 August 2020 | 15,518 | ||
| Depreciation and impairment | |||
| At 1 September 2019 | 14,039 | ||
| Depreciation charged in the year | 737 | ||
| At 31 August 2020 | 14,776 | ||
| Carrying amount | |||
| At 31 August 2020 | 742 | ||
| At 31 August 2019 | 1,001 | ||
| 11 | Stocks | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Finished goods and goods for resale | 1,357 | 1,357 |
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SHROPSHIRE FEDERATION OF YFC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
| 12 Debtors Amounts falling due within one year: Trade debtors Prepayments and accrued income 13 Current asset investments Unlisted investments 14 Creditors: amounts falling due within one year Other taxation and social security Trade creditors Other creditors Accruals and deferred income |
2020 £ 20,828 1,750 22,578 2020 £ 2,000 2020 £ 2,372 692 184 11,144 14,392 |
2019 £ 16,097 7,828 23,925 2019 £ 2,000 2019 £ 1,119 10,651 - 5,925 17,695 |
|---|---|---|
15 Retirement benefit schemes
Defined contribution schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
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SHROPSHIRE FEDERATION OF YFC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
16 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Balance at | Resources | Balance at | Resources | Balance at | ||
|---|---|---|---|---|---|---|
| 1 | September | expended | 1 September | expended | 31 August | |
| 2018 | 2019 | 2020 | ||||
| £ | £ | £ | £ | £ | ||
| Training grants | 1,832 | (750) | 1,082 | (200) | 882 |
Training grants
The money in this fund is available for members of the charity who wish to receive a grant towards training costs.
Designated funds
The trustees have decided to designate £150,000 towards future investment in the organisation.
17 Analysis of net assets between funds
| Unrestricted Restricted 2020 2020 £ £ Fund balances at 31 August 2020 are represented by: Tangible assets 742 - Current assets/ (liabilities) 240,263 882 241,005 882 |
TotalUnrestricted Restricted 2020 2019 2019 £ £ £ 742 1,001 - 241,145 288,041 1,082 241,887 289,042 1,082 |
Total 2019 £ 1,001 289,123 290,124 |
|---|---|---|
18 Related party transactions
There were no disclosable related party transactions during the year (2019 - none).
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SHROPSHIRE FEDERATION OF YFC
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020
| Incoming Resources Voluntary income Unrestricted Subscriptions NFYFC affiliation levy Sponsorship Other incoming resources Unrestricted Training Sales of merchandise Dances & Social events YFC rally & dance Shropshire County Show Chairman's ball Competitions Handbook Chairman's event 75th Anniversary Income Investment income Interest receivable Total incoming resources |
2020 £ 38,838 (19,928) 15,206 34,116 3,620 163 3,144 3,043 1,474 29 9,620 8,820 (2,710) - 27,203 1,277 1,277 62,596 |
2019 £ 36,075 (15,795) 5,400 25,680 4,760 2,754 16,561 21,608 6,770 78,298 12,446 9,655 4,322 17,920 175,094 1,039 1,039 201,813 |
|---|---|---|
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SHROPSHIRE FEDERATION OF YFC
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020
| Resources expended Costs of raising funds Unrestricted Dances and social events YFC rally & dance Shropshire County Show Chairman's ball Competitions Handbook 75th Anniversary Charitable expenditure Unrestricted Training courses Donations Wages Depreciation Insurance Light, heat & rent Telephone Postage & stationery Promotion costs Mileage Officer expenses Office costs Accountancy Sundries Software subscriptions Restricted Training courses Total resources expended Net income/(expenditure) |
2,485 1,068 112 8,114 6,695 2,278 - 20,752 10,894 - 51,593 737 5,691 3,138 2,089 3,679 2,068 812 144 3,592 3,228 2,216 - 200 90,081 110,833 (48,237) |
10,121 20,471 3,289 63,192 9,374 2,536 13,168 122,151 10,105 2,500 45,302 1,000 5,373 3,722 1,931 5,929 3,458 1,249 288 4,147 988 2,520 420 750 89,682 211,833 (10,020) |
|---|---|---|
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