THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (A REGISTERED CHARITY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2021
REGISTERED NO: 02419964 CHARITY NO: 702017
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (A REGISTERED CHARITY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
Contents
| Contents | |
|---|---|
| Pages | |
| Company information | 1 |
| Report of the Council of Management | 2-4 |
| Independent Examiner's Report | 5 |
| Consolidated Statement of Financial Activities | 6 |
| Consolidated Balance Sheet | 7 |
| Company Balance Sheet | 8 |
| Consolidated Statement of Cash Flows | 9 |
| Company Statement of Cash Flows | 10 |
| Notes to the Cash Flow Statement | 11 |
| Notes to the Financial Statements | 12 - 21 |
| The following pages do not form part of the statutory | financial statements |
| Detailed income and expenditure account | 22 |
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (A REGISTERED CHARITY LIMITED BY GUARANTEE)
COMPANY INFORMATION AT 31 DECEMBER 2021
PRESIDENT: S Mackaness MEMBERS OF THE COUNCIL OF MANAGEMENT: D. Beardall J.M. Makin C.S.H. Smith M.A. Dabell C. Stewart C.J. Bayliss P.A. Grant Lady P. L. Mowbray COMPANY SECRETARY: Mrs J. Robinson REGISTERED OFFICE: Unit 6, The Stables Newby Hall Ripon HG4 5AE COMPANY REGISTRATION NUMBER: 02419964 CHARITY REGISTRATION NUMBER: 702017 INDEPENDENT EXAMINER: DSC Accountants Limited Chartered Accountants Tattersall House East Parade Harrogate North Yorkshire HG1 5LT PRINCIPAL BANKERS: National Westminster Bank Plc 3 Cambridge Crescent Harrogate HG1 1PJ SOLICITORS: LCF Law The Exchange Station Parade Harrogate HG1 1TS INVESTMENT MANAGERS: Brown Shipley 10 Wellington Place Leeds LS1 4AP Williams Investment LLP 34 Victoria Avenue Harrogate HG1 5PR DIRECTOR OF SHOWS: N Smith FINANCE MANAGER: J Robinson
S.M. Brown S.A. Hopps M.J. I'Anson D. Kilburn D.R. Barker R. Beckwith L. Compton D.B.Hutchinson (resigned 10 March 2021)
Page 1
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (REGISTERED NO: 02419964)
(A REGISTERED CHARITY LIMITED BY GUARANTEE) (CHARITY NO: 702017)
COUNCIL OF MANAGEMENT'S REPORTS ON THE GROUP ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the audited financial statements for the year ended 31 December 2021. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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).
OBJECTIVES OF THE CHARITY, PRINCIPAL ACTIVITIES AND ORGANISATION OF OUR WORK
The charity is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association.
The charity’s object and principal activity continues to be that of educating, promoting and developing the science, art and practice of horticulture, the advancement of environmental protection, with special reference to the conditions existing in the North of England by the promotion of shows and events. Within these events the charity supports numerous other horticultural charities, enabling them to increase public awareness of these charities. In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’.
The charity also wholly controls a trading company, Harrogate Flower Show Limited, a company incorporated in England and Wales. The trustees feel it is important to highlight the fact that the trading company (which runs the shows) has, since its incorporation, paid over its profits to the charity under a deed of covenant. The annexed accounts show that in the year 2021 no payment was able to be made to the charity by way of a gift (2020: £0), but charitable aims would be met from financial reserves. The Charity has established its grant making policy to achieve its objectives for the public benefit. The Charity receives and considers direct application for assistance. Detailed consideration is given to each application on the basis of information provided, additional information the trustees see as necessary to form an opinion, visits and follow up reports.
The charity cooperates with and provides support via the platform of the Harrogate Flower Shows for a wide range of horticulturally based groups, organisations and individuals. This includes support of over a dozen specialist plant societies, including, but not limited to chrysanthemum, dahlia, cacti, fuchsia, geranium, daffodil, gladioli and bonsai. The charity also engages with grown edibles through its work with the Northern Fruit Group, National Vegetable Society and regional allotment groups. The organisation works closely in promoting the valuable work of recognised charities, including Perennial (The Gardener’s Charity), Horticap, Wades Charity and various wider ranging groups.
The charity also supports learning and education in horticulture, via commitment to regional colleges including Askham Bryan, Shipley College, Bishop Burton, Kirkley and Craven College. A continued relationship with the Chartered Institute of Horticulture ‘Young Horticulturalist of the Year’ and the Yorkshire in Bloom ‘Young People’s Award’ ensure that such support is highlighted and widened in the sphere of learning.
Work of the organisation also extends to individuals and small groups, from horticultural exhibitors, nursery growers, floral societies and gardening clubs to community growing initiatives, historical organisations and volunteering groups.
THE COUNCIL OF MANAGEMENT
There is a Council of Management which consists of a minimum of 15, maximum of 18, elected members. All of the members of the council of management are named within the company information, as directors of the charity, and served throughout the year unless stated otherwise in the company information. There is a President of the charity who is eligible to serve for an initial period of two years. The term in office may be extended at the discretion of the Council. The Chairman and Vice Chairman are elected annually by Council.
The day-to-day management of the charity is handled by J Robinson (the company secretary) and N Smith (the show director).
COMMITTEES
There is an executive committee comprising the chairman of the company, the vice-chairman of the company, the company secretary, the show director, the solicitor, a representative from the Harrogate Flower Show Limited who is independent of the charity, and up to four other members of the council. Its function is to administer the company in all its aspects, to respond to instructions from the council, to bring to the council matters as necessary and to report to the council on its activities.
Page 2
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (REGISTERED NO: 02419964)
(A REGISTERED CHARITY LIMITED BY GUARANTEE) (CHARITY NO: 702017)
COUNCIL OF MANAGEMENT'S REPORT ON THE GROUP ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
All potential trustees are vetted by existing trustees and actively participate in and gain experience of the shows under the guidance of existing trustees. Once appointed, all trustees receive a copy of the Society’s Memorandum and Articles of Association and Byelaws. In addition they receive a copy of the Charities Act 2011 sections 178-184 and a copy of the Charity Commission documents - "The Essential Trustee - what you need to know", “Charities and Risk Management” and “A Guide to Conflict of Interest for Charity Trustees”. The trustees are required to sign a declaration that they either have no conflicting interests or divulge any interest, which may conflict with those of the charity. Ongoing training is provided as necessary, including attendance at relevant courses.
RESPONSIBILITIES OF MEMBERS OF THE COUNCIL OF MANAGEMENT
Company and charity law requires the members of the council of management to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for the period. In preparing those financial statements, the members of the council of management are required to:
-
(a) Select suitable accounting policies and then apply them consistently;
-
(b) Observe the methods and principles in the Charities SORP
-
(c) Make judgments and estimates that are reasonable and prudent;
-
(d) State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements: and
-
(e) Prepare financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The members of the council of management are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
PROFESSIONAL ADVISORS
As company information on page 1.
DEVELOPMENTS, ACHIEVEMENTS AND FUTURE ACTIVITIES
Whilst unprecedented in all areas of life throughout 2021, the impact of the COVID-19 coronavirus pandemic continued to be especially significant across the charitable and event sector. Further periods of lockdown and limitations to large gatherings made planning events both challenging and not without risk.
The Government COVID-19 roadmap of tiered restrictions, announced in January 2021, did, however, offer the opportunity to plan ahead, albeit with caveats.
As the Harrogate Flower Shows continue to be the charity's main route to engagement, it was agreed by the charity that if possible, a reduced-scale spring horticultural event in an approved, covid-safe manner, this should be furthered. The resulting Spring Essentials event was held in May, a month later than the traditional spring show, consisting of an outdoor-only offer with limited attendance numbers and consistent with the Tier 3/4 restrictions of the time. The show team worked with the advice of NYCC Public Health and Harrogate Borough Council in staging the event, one of the first such examples of a COVID-safe outdoor gathering nationally. Hosting the show offered the opportunity to re-engage with the charity's core audience, welcoming over 50 independent plant nurseries and highlighting both the physical and mental benefits of horticulture in times of difficulty to an audience of almost 20,000 across a four day period.
With the removal of tiered restrictions in July, the charity confirmed its intention to host its autumn flower show in September at the new venue of Newby Hall & Gardens, near Ripon. Whilst exhibitor numbers were reduced, due largely to uncertainty about COVID-19, the show team once again worked with the local authority in staging an event which complied with all required legislation. The show was a great success, allowing the charity to engage and promote horticulture within the context of a nationally-recognised garden environment, and welcomed over 20,000 visitors across three days. The event further developed links with organisations including Macmillan, Flowers from the Farm and Jennyruth Workshops.
The autumn event also allowed the charity to develop and share its commitment to the culture of gardening, with commissioned exhibitions including the Art of the Chrysanthemum (with the Arts Society) and Time & Place: Gardening at Newby Hall in the 20th Century (with GARLAND - Garden & Landscape Group). The former exhibition has since moved to other locations, as an example of legacy promotion.
In addition to this, the charity continued to utilise a variety of alternative methods and channels to share and promote its work. Gardening tips were shared throughout the year via social media platforms including Twitter, Facebook and Instagram, reaching virtual audiences of up to 15,000. A members enewsletter, delivered through Harrogate Flower Shows Ltd, continued to promote positive stories relating to horticulture, issued regularly and reaching audiences of 20-30,000 per issue.
Lectures and talks were provided to gardening groups, horticultural institutions and charitable partners, both in-person and supported by remote working systems such as Zoom and Microsoft Teams. These reached an estimated 1,800 people during the year.
The charity continues to maintain and develop relationships with key horticultural partners, working alongside organisations including Perennial, the Chartered Institute of Horticulture, the British Association of Landscape Industries, the Horticultural Trades Association, the National Association of Flower Arranging Industries and the National Allotment Society. The charity has further continued its relationship with a wide range of specialist society groups for whom, like our own organisation, the forthcoming 2022 season will hopefully provide a return to more traditional and wide reaching engagement activities, enabling a brighter future for both their and our work and ambition.
Page 3
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (REGISTERED NO: 02419964)
(A REGISTERED CHARITY LIMITED BY GUARANTEE) (CHARITY NO: 702017)
COUNCIL OF MANAGEMENT'S REPORTS ON THE GROUP ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
RESULTS AND FINANCIAL POSITION
Alongside many similar organisations, our trading company Harrogate Flower Show Limited continued to face significant challenges in 2021. The continuation of COVID-19 restrictions resulted in a smaller spring event than for previous years, whilst the autumn show saw the continued impact of exhibitor reticence relating to large gatherings. The sucessful hosting of both events have, however, continued to allow the charity to engage and in both instances have contributed significantly to a reduction in the loss incurred by the charity as a result of such a difficult trading environment. Directors of the trading company remain acutely aware of the core aims and ambitions of the charity and, in addition to cost economies which continue to be implemented within the trading company, all available government aid has been utilised in order to support the business and its employees through the ongoing crisis. The Government-backed Coronavirus Business Interruption Loan (CBILS), taken out by the charity in 2020 to the value of £250,000 in order to relieve cash flow across the pandemic period, began to incur interest from May 2021 at the end of its initial interest-free year. Repayment of this loan continues.
The financial losses incurred by the trading company mean that no gift (2020: £nil) is payable in 2021. Part of such costs is charitable expenditure and is separately identified in the SoFA. During the year, the charitable expenditure incurred by the subsidiary on behalf of the charity totalled £170,377 (2020:£35,484).
The Income and Expenditure Account shows a gain of £99,043 (2020: £28,359) on investments, in addition to highlighting that charitable donations of £3,049 (2020: £1,517) were made.
THE CHARITY’S RESERVES POLICY
The reserves are required to meet the objects of the Charity. The reserves held at the end of the period were £888,652 (2020: £922,588) which all are unrestricted funds.
The designated reserve is maintained at a level which would ensure that, should circumstances beyond the control of the charity result in the cancellation of the shows, this would not result in the demise of the Harrogate Flower Show. This was highlighted in 2000 and 2001 when the fuel crisis and the foot and mouth epidemic could have led to such an eventuality. As a result a designated reserve of £750,000 (2020: £750,000) is maintained.
INVESTMENT POLICY AND TARGET RETURN
The charity has an investment committee comprising the chairman, vice-chairman and company secretary and up to two other members of council who meet as necessary and report regularly to the executive committee of the charity.
The aim of the committee is to manage investments conservatively, to obtain a balanced portfolio and a return in line with current market conditions and, in the long term, some capital gain.
To do this the committee makes use of the CCLA charity funds and has two portfolios of investments managed by two brokers, who submit regular reports and advice and meet with the investments committee.
RISK MANAGEMENT
The trustees have an on-going policy of reviewing the major risks to which the charity is exposed and systems have been and are being established to mitigate those risks by means of increasing the weather independence of the shows, a major factor in their success. There are obviously factors beyond the control of the charity which may result in the cancellation or curtailment of shows.
A Health & Safety Officer is consulted leading up to and during all events to ensure the charity conforms with all current legislation.
Signed on behalf of the Council on 9 March 2022.
Lady P. L. Mowbray:
Trustee
Page 4
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY
(A REGISTERED CHARITY LIMITED BY GUARANTEE)
INDEPENDENT EXAMINER'S REPORT TO THE COUNCIL OF MANAGEMENT OF THE NORTH OF ENGLAND HORTICULTURAL SOCIETY
Independent examiner's report to the trustees of The North of England Horticultural Society ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Graham French
ICAEW
DSC Chartered Accountants Tattersall House East Parade Harrogate North Yorkshire HG1 5LT
Date: 9 March 2022
Page 5
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY
(A REGISTERED CHARITY LIMITED BY GUARANTEE)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
(INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT) SUMMARY INCOME AND EXPENDITURE ACCOUNT
| Notes UNRESTRICTED £ INCOMING RESOURCES Voluntary income: Members subscriptions and donations 5 1,200 Income from other trading activities: Commercial trading operations 9 850,791 Investment income 11 15,859 Other operating income Government grants 34,802 TOTAL INCOMING RESOURCES 902,652 RESOURCES EXPENDED Costs of generating funds: Trading expenses 9 788,865 Expenditure on charitable activities: Donations, grants and sponsorship 7 3,049 Charitable expenditure by subsidiary 8 170,377 Other expenditure: Support costs 6 73,340 TOTAL RESOURCES EXPENDED 1,035,631 (132,979) Net gains/(losses) on investments 99,043 (33,936) Corporation tax 19 - (33,936) Fund balances brought forward 922,588 FUND BALANCES CARRIED FORWARD 888,652 NET INCOMING/(OUTGOING) RESOURCES NET INCOME AND EXPENDITURE AND NET MOVEMENT IN FUNDS BEFORE TAXATION NET INCOME AND EXPENDITURE AND NET MOVEMENT IN FUNDS AFTER TAXATION |
TOTAL 2021 £ 1,200 850,791 15,859 34,802 902,652 788,865 3,049 170,377 73,340 1,035,631 (132,979) 99,043 (33,936) - (33,936) 922,588 888,652 |
2020 £ 1,600 7,246 20,645 66,687 |
|---|---|---|
| 96,178 | ||
| 329,125 1,517 35,484 76,415 |
||
| 442,541 | ||
| (346,363) 28,359 |
||
| (318,004) | ||
| - | ||
| (318,004) | ||
| 1,240,592 | ||
| 922,588 |
The statement of financial activities incorporates the income and expenditure account and the results for the year derive from continuing activities and there are no gains or losses other than those shown above.
Page 6
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (REGISTERED NUMBER: 02419964) (A REGISTERED CHARITY LIMITED BY GUARANTEE)
CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2021
| Notes FIXED ASSETS Tangible assets 12 Investments 13 CURRENT ASSETS Stocks 14 Debtors 15 Cash at bank and in hand 16 NET CURRENT LIABILITIES NET ASSETS UNRESTRICTED FUNDS General 20 Non-charitable trading 20 Designated 20 TOTAL FUNDS CREDITORS:amounts falling due within one year CREDITORS:amounts falling due after more than one year 17 |
£ £ 16,095 984,576 1,000,671 - 98,594 248,249 346,843 (292,194) 54,649 (166,668) (166,668) 888,652 508,235 (369,583) 750,000 888,652 2021 |
£ £ 20,983 991,120 1,012,103 2,942 4,465 236,110 243,517 (117,732) 125,785 (215,300) (215,300) 922,588 471,522 (298,934) 750,000 922,588 2020 |
£ £ 20,983 991,120 1,012,103 2,942 4,465 236,110 243,517 (117,732) 125,785 (215,300) (215,300) 922,588 471,522 (298,934) 750,000 922,588 2020 |
|---|---|---|---|
| 1,012,103 125,785 (215,300) |
|||
| 922,588 | |||
| 471,522 (298,934) 750,000 |
|||
| 922,588 |
For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the act with respect to accounting records and for the preparation of the accounts.
The trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the Council on 9 March 2022 and signed on its behalf by the following members:
C.S.H. Smith
C.J. Bayliss
Page 7
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (REGISTERED NUMBER: 02419964) (A REGISTERED CHARITY LIMITED BY GUARANTEE)
COMPANY BALANCE SHEET AT 31 DECEMBER 2021
| Notes FIXED ASSETS Tangible assets 12 Investments 13 CURRENT ASSETS Debtors 15 Cash at bank and in hand 16 NET CURRENT ASSETS NET ASSETS UNRESTRICTED FUNDS General 20 Designated 20 TOTAL FUNDS CREDITORS:amounts falling due within one year |
£ £ 14,846 984,580 999,426 134,723 142,062 276,785 (17,976) 258,809 1,258,235 508,235 750,000 1,258,235 2021 |
£ £ 18,969 991,124 1,010,093 61,804 172,959 234,763 (23,334) 211,429 1,221,522 471,522 750,000 1,221,522 2020 |
£ £ 18,969 991,124 1,010,093 61,804 172,959 234,763 (23,334) 211,429 1,221,522 471,522 750,000 1,221,522 2020 |
|---|---|---|---|
| 1,010,093 211,429 |
|||
| 1,221,522 | |||
| 471,522 750,000 |
|||
| 1,221,522 |
For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the act with respect to accounting records and for the preparation of the accounts.
The trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the Council on 9 March 2022 and signed on its behalf by the following members:
C.S.H. Smith
C.J. Bayliss
Page 8
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (REGISTERED NUMBER: 02419964) (A REGISTERED CHARITY LIMITED BY GUARANTEE)
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021
| Notes Cash flows from operating activities Cash generated from operations 1 Investment income Net cash from operating activities Cash flows from investing activities Purchase of tangible fixed assets Purchase of fixed asset investments Proceeds from sale of fixed asset investments Net cash from investing activities 2 2 Increase/(decrease) in cash and cash equivalents in the year Cash and cash equivalents at the end of the year Cash and cash equivalents at the beginning of the year |
2021 £ (109,307) 15,859 (93,448) - (513,980) 619,567 105,587 12,139 236,110 248,249 |
2020 £ (172,012) 20,645 |
|---|---|---|
| (151,367) | ||
| (5,203) (372,919) 508,040 |
||
| 129,918 | ||
| (21,449) 257,559 |
||
| 236,110 |
Page 9
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (REGISTERED NUMBER: 02419964) (A REGISTERED CHARITY LIMITED BY GUARANTEE)
COMPANY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021
| Notes Cash flows from operating activities Cash generated from operations 1 Investment income Net cash from operating activities Cash flows from investing activities Purchase of tangible fixed assets Purchase of fixed asset investments Proceeds from sale of fixed asset investments Net cash from investing activities 2 2 Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Increase/(decrease) in cash and cash equivalents in the year |
2021 £ (152,343) 15,859 (136,484) - (513,980) 619,567 105,587 (30,897) 172,959 142,062 |
2020 £ (46,375) 20,645 |
|---|---|---|
| (25,730) | ||
| (5,203) (372,919) 508,040 |
||
| 129,918 | ||
| 104,188 68,771 |
||
| 172,959 |
Page 10
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (REGISTERED NUMBER: 02419964) (A REGISTERED CHARITY LIMITED BY GUARANTEE)
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021
1 RECONCILIATION OF (DEFICIT)/SURPLUS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
| (Deficit)/Surplus before taxation Depreciation charges Investment income Loss/(Gain) on investments Decrease/(increase) in inventories Decrease/(increase) in trade and other debtors (Decrease)/increase in trade and other creditors Cash generated from operations |
2021 2020 £ £ (33,936) (318,004) 4,888 5,005 (15,859) (20,645) (99,043) (28,359) (143,950) (362,003) 2,942 - (94,129) 150,641 125,830 39,350 (109,307) (172,012) GROUP |
2021 2020 £ £ 36,713 (18,328) 4,122 4,122 (15,859) (20,645) (99,043) (28,359) (74,067) (63,210) - - (72,919) 15,112 (5,358) 1,723 (152,343) (46,375) COMPANY |
2021 2020 £ £ 36,713 (18,328) 4,122 4,122 (15,859) (20,645) (99,043) (28,359) (74,067) (63,210) - - (72,919) 15,112 (5,358) 1,723 (152,343) (46,375) COMPANY |
|---|---|---|---|
| (63,210) - 15,112 1,723 |
|||
| (46,375) |
2 CASH AND CASH EQUIVALENTS
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:
| GROUP | COMPANY | COMPANY | ||
|---|---|---|---|---|
| Year ended 31 December 2021 | 31/12/2021 | 01/01/2021 | 31/12/2021 | 01/01/2021 |
| £ | £ | £ | £ | |
| Cash and cash equivalents | 248,249 | 236,110 | 142,062 | 172,959 |
| GROUP | COMPANY | |||
| Year ended 31 December 2020 | 31/12/2020 | 01/01/2020 | 31/12/2020 | 01/01/2020 |
| £ | £ | £ | £ | |
| Cash and cash equivalents | 236,110 | 257,559 | 172,959 | 68,771 |
Page 11
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (A REGISTERED CHARITY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 STATUTORY INFORMATION
The North of England Horticultural Society is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The charity is a public benefit entity. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
2 ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.
The North of England Horticultural Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated
Basis of Consolidation
These financial statements consolidate the results of the charity and its wholly owned subsidiary, Harrogate Flower Show Limited, on a line by line basis. A separate Statement of Financial Activities, or income and expenditure account, for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by Section 408 of the Companies Act 2006
Going Concern
The trustees are of the view that there are no material uncertainties about the charity's ability to continue, and the accounts have therefore been prepared on a going concern basis.
Incoming resources
Income is the amount derived from the provision of goods and services, and stated after trade discounts, other sales taxes and VAT.
Trading income
Income from commercial activities is included in the period in which the group is entitled to receipt. Income received for next year's shows is treated as deferred income.
Subscriptions and donations
Income from subscriptions and donations is included in incoming resources when they are receivable.
Investment income
Interest earned by the charity is included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Dividends are brought to account in the Statement of Financial Activities when received.
Resources expended
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. Expenditure which is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across categories on a basis consistent with the use of these resources.
Finance and operating leases
Rentals applicable to operating leases are charged to the Statement of Financial Activities over the period they are incurred. Assets obtained under finance leases are capitalised as tangible fixed assets. Obligations under such leases are included in creditors net of finance charge allocated to future periods. The finance element of each payment is charged to the Statement of Financial Activities so as to produce a constant periodic rate on the net obligation outstanding in each period.
Depreciation of tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset, other than cups, medals, trophies and plaques, over its useful life:
All classes of fixed assets are included at historical cost and assets below a value of £500 are not considered material and so not capitalised. Impairment reviews occur when there is an indication that the assets may be impaired.
Fixtures and fittings: 10-15% per annum on cost
Motor Vehicles: 20% per annum on cost Show ground improvements: Over 9 years on a straight line basis Website Development: 25% per annum on cost
Investments
Investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year
Irrecoverable VAT
The charity and its trading subsidiary are VAT registered and are partially exempt. VAT is reclaimed where possible and any irrecoverable VAT is taken to the Income and Expenditure account.
Page 12
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (A REGISTERED CHARITY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
2 ACCOUNTING POLICIES - continued Fund accounting
Funds held by the charity are either: Unrestricted general funds , which are funds which can be used in accordance with the charitable objects at the discretion of the Council of Management.
Designated funds , which are funds set aside by the Council of Management out of unrestricted general funds for specific future purposes.
Government grants
Government grants related to the purchase of assets are treated as deferred income and allocated to the profit and loss account over the useful lives of the related assets while grants related to expenses are recognised in the profit and loss account when received.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Financial Instruments
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
The contributions made for the accounting period are treated as an expense and were £6,453 (2020: £6,422)
The contributions are treated as Costs of generating funds and are trading expenses of the subsidiary. They form part of the unrestricted funds of the group.
Related parties
As the company prepares publicly available consolidated financial statements, the company has taken advantage of the available exemption and has therefore not disclosed transactions or balances with its wholly owned subsidiaries.
Charitable expenditure
During the shows, the subsidiary promotes horticulture on behalf of the parent charity through a variety of means, including exhibitions, displays and sponsorship. The group deems that part of the costs of hosting the shows is charitable expenditure, and separately identifies such expenses.
Page 13
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (A REGISTERED CHARITY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
3 FINANCIAL PERFORMANCE OF THE CHARITY
The consolidated statement of financial activities includes the results of the charity’s wholly owned subsidiary. The summary financial performance of the charity alone is:
| Income Government grants Investment income Expenditure on charitable activities Support costs Gains/(losses) on investments Net income Fund balances brought forward Fund balances carried forward Represented by: Unrestricted income funds 4 (DEFICIT)/SURPLUS OF FUNDS FOR THE YEAR (Deficit)/Surplus of funds is stated after charging: Staff costs Independent examiner's fees Independent examiner's fees for accountancy and other services Operating lease costs Depreciation 5 INCOME FROM MEMBERS SUBSCRIPTIONS AND DONATIONS Members subscriptions Donations and grants 6 SUPPORT COSTS Rent and rates Insurance Light and heat Hire of plant and machinery Telephone Travel expenses Bank charges and interest Printing, postage and stationery Computer expenses Sundry expenses Depreciation of fixtures and fittings Depreciation of motor vehicles Independent examination Accountancy Legal and professional fees including investment management costs Governance costs |
2021 £ 14,700 - 15,859 30,559 (3,049) (88,790) (1,050) 99,043 36,713 1,221,522 1,258,235 1,258,235 2021 223,647 1,050 5,361 28,005 4,888 2021 £ 1,050 150 1,200 2021 £ 27,911 10,574 1,430 1,400 1,430 790 69 583 7,873 189 3,122 1,000 1,050 5,361 10,558 73,340 |
2020 £ 17,100 10,000 20,645 |
|---|---|---|
| 47,745 (1,517) (91,865) (1,050) 28,359 |
||
| (18,328) 1,239,850 |
||
| 1,221,522 | ||
| 1,221,522 | ||
| 2020 210,740 1,050 5,211 29,256 5,005 |
||
| 2020 £ 1,190 410 |
||
| 1,600 | ||
| 2020 £ 28,389 12,926 2,372 1,400 1,137 218 291 1,131 7,296 391 3,122 1,000 1,050 5,211 10,481 |
||
| 76,415 |
Page 14
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (A REGISTERED CHARITY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
7 DONATIONS, GRANTS AND SPONSORSHIP
| DONATIONS, GRANTS AND SPONSORSHIP Donations Other sponsorship and subscriptions |
2021 £ 1,000 2,049 3,049 |
2020 £ 1,000 517 |
| 1,517 |
During the year, the annual small grant scheme was withheld, and nil grants issued (2020:£nil) due to the uncertain financial situation relating to COVID-19. Financial support continued to be offered to individuals, groups and organisations taking part in the creation of horticultural features at spring and autumn events, whilst sponsorship of awards relating to the promotion of horticulture in the north of England was also maintained. Support costs associated with grant making activities form part of the overall support costs but are not separately identified.
8 CHARITABLE EXPENDITURE BY THE SUBSIDIARY
During the shows, Harrogate Flower Show Limited promotes horticulture through a variety of means, including exhibitions, displays and sponsorship. The Charity deems that part of the costs of hosting the shows is charitable expenditure, and is shown as such in these accounts. A breakdown of the charitable expenditure by the subsidiary is shown below:
| A breakdown of the charitable expenditure by the subsidiary is shown below: | ||
|---|---|---|
| Rent Marquees Staging Floral Art Judges expenses Prize Money Show Features Sponsorship |
2021 £ 31,800 67,152 2,490 12,236 1,086 17,593 9,840 28,180 170,377 |
2020 £ 4,200 21,674 7,641 364 - 90 1,515 - |
| 35,484 |
9 RESULTS OF SUBSIDIARY UNDERTAKING
The Charity has a trading subsidiary undertaking, Harrogate Flower Show Limited, which is incorporated in England and Wales (registered number 02485663). The registered office address is the same as the parent, and can be found on the Company Information page. The subsidiary undertaking runs two flower shows each year. A summary of its trading results is shown below.
| Turnover Cost of sales Gross profit Charitable expenditure Administration expenses Other operating income Net loss before tax Net loss after tax Amount gifted to The North of England Horticultural Society Surplus / (deficit) |
2021 £ 850,791 (477,881) 372,910 (170,377) (307,984) 34,802 (70,649) (70,649) - (70,649) |
2020 £ 7,246 (84,013) |
|---|---|---|
| (76,767) (35,484) (244,112) 56,687 |
||
| (299,676) (299,676) - |
||
| (299,676) |
Page 15
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY (A REGISTERED CHARITY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
9 RESULTS OF SUBSIDIARY UNDERTAKING - continued
| Turnover of the subsidiary comprises of: Revenue from provision of services Trading expenses of the subsidiary comprises of: Cost of sales Administration expenses Less: management charge to The North of England Horticultural Society Add: management charge from The North of England Horticultural Society Donations and sponsorship Other operating income: Government grants 10 Wages and salaries Social security costs Pension costs Other employee benefits All employees are employed by the subsidiary undertaking. Office and management: The average monthly number of employees during the period was made up as follows: ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY MANAGEMENT PERSONNEL |
2021 £ 850,791 850,791 2021 £ 477,881 307,984 16,500 (13,500) - 788,865 2021 £ 34,802 34,802 2021 £ 202,077 15,117 6,453 223,647 6,763 No. 6 6 |
2020 £ 7,246 |
|---|---|---|
| 7,246 | ||
| 2020 £ 84,012 244,113 16,500 (15,500) - |
||
| 329,125 | ||
| 2020 £ 56,687 |
||
| 56,687 | ||
| 2020 £ 186,153 18,165 6,422 |
||
| 210,740 | ||
| 8,725 No. 6 |
||
| 6 |
For the duration of the shows, additional staff are employed. An average of 60 people are employed during each show. The spring show lasts for 4 days and the autumn show lasts for 3 days.
The above costs include the additional staff employed during each show.
Members of the Council of Management’s emoluments:
The Memorandum and Articles of Association do not provide for the Council of Management to receive remuneration or other benefits arising from their membership thereof. No member of the Council of Management received any expenses (2020: nil).
The key management personnel of the parent charity comprise the trustees, Show Director and Company Secretary. These also comprise the key management personnel of the group. The total employee benefits of the key management personnel were £72,100 (2020: £72,100).
All of the directors of the subsidiary undertaking are also members of the Council of Management with the exception of D. Matthewman, who is an independent director of the subsidiary. None of the directors received any remuneration from the subsidiary undertaking.
The number of employees whose emoluments as defined for taxation purposes amounted to over £60,000 in the year was as follows:
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| £70,001 | - £80,000: | 1 | 1 |
Page 16
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY
(A REGISTERED CHARITY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
11 INTEREST AND OTHER INCOME RECEIVABLE
| Dividends & other distributions 12 Website Development GROUP £ Costs: At 1 January 2021 6,205 Additions - Disposals - At 31 December 2021 6,205 Depreciation: At 1 January 2021 6,205 Charge for year - Disposals - At 31 December 2021 6,205 At 31 December 2021 - At 31 December 2020 - Costs: At 1 January 2021 Additions Disposals At 31 December 2021 Depreciation: At 1 January 2021 Charge for year On disposals Net book value At 31 December 2021 Net book value At 31 December 2020 TANGIBLE FIXED ASSETS COMPANY Net book value Net book value At 31 December 2021 |
Show ground improvements £ 125,999 - - 125,999 125,999 - - 125,999 - - |
Motor Vehicles £ 5,000 - - 5,000 4,000 1,000 - 5,000 - 1,000 Motor Vehicles £ 5,000 - - 5,000 4,000 1,000 - 5,000 - 1,000 |
Fixtures and fittings £ 36,657 - - 36,657 17,485 3,888 - 21,373 15,284 19,172 Fixtures and fittings £ 30,411 - - 30,411 13,253 3,123 - 16,376 14,035 17,158 |
2021 £ 15,859 15,859 Trophies, plaques & medals £ 811 - - 811 - - - - 811 811 Trophies, plaques & medals £ 811 - - 811 - - - - 811 811 |
2020 £ 20,645 |
|---|---|---|---|---|---|
| 20,645 | |||||
| Total £ 174,672 - - |
|||||
| 174,672 | |||||
| 153,689 4,888 - |
|||||
| 158,577 | |||||
| 16,095 | |||||
| 20,983 | |||||
| Total £ 36,222 - - |
|||||
| 36,222 | |||||
| 17,253 4,123 - |
|||||
| 21,376 | |||||
| 14,846 | |||||
| 18,969 |
Page 17
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY
(A REGISTERED CHARITY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
13 FIXED ASSETS INVESTMENTS
| GROUP Market Value At 1 January 2021 Acquisitions at cost Sale proceeds from disposals Gain in the year Historic cost at 31 December 2021 Historic cost at 31 December 2020 COMPANY Market Value At 1 January 2021 Acquisitions at cost Sale proceeds from disposals Gain in the year Historic cost at 31 December 2021 Historic cost at 31 December 2020 At 31 December 2021 At 31 December 2021 |
Listed £ 991,120 513,980 (619,567) 99,043 984,576 811,450 820,543 991,120 513,980 (619,567) 99,043 984,576 811,450 820,543 |
Unlisted £ - - - - - - - 4 - - - 4 4 4 |
Total £ 991,120 513,980 (619,567) 99,043 |
|---|---|---|---|
| 984,576 | |||
| 811,450 | |||
| 820,543 | |||
| 991,124 513,980 (619,567) 99,043 |
|||
| 984,580 | |||
| 811,454 | |||
| 820,547 |
All listed investments are shown every year at market value, obtained from the investment management reports.
Investments are held primarily to provide an Investment Return for the Charity.
All listed investments are UK listed securities. The unlisted investments for the company consist of 100% of the issued share capital of the trading subsidiary, Harrogate Flower Show Limited, a company incorporated in England and Wales.
Shares held in the subsidiary Harrogate Flower Show Limited are ordinary shares and the charity controls 100% of the voting rights.
| 14 STOCKS Merchandise products (Loss)/Profit in the year Aggregate capital and reserves |
2021 2020 £ £ - 2,942 - 2,942 GROUP |
2021 2020 £ £ (369,583) (298,934) (70,649) (299,676) 2021 2020 £ £ - - - - COMPANY |
2021 2020 £ £ (369,583) (298,934) (70,649) (299,676) 2021 2020 £ £ - - - - COMPANY |
|---|---|---|---|
| - |
Page 18
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY
(A REGISTERED CHARITY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| 15 DEBTORS Other debtors Owed by group undertaking Prepayments and accrued income 16 Trade creditors CREDITORS – AMOUNTS FALLING DUE Accrued expenses and deferred income Other taxes and social security costs Bank loans and overdraft WITHIN ONE YEAR |
2021 2020 £ £ 6,232 1,967 - - 92,362 2,498 98,594 4,465 2021 2020 £ £ 50,000 34,700 4,466 18,210 174,526 59,916 63,202 4,906 292,194 117,732 GROUP GROUP |
2021 2020 £ £ 2,486 1,967 118,737 44,337 13,500 15,500 134,723 61,804 2021 2020 £ £ - - - - 17,845 19,110 131 4,224 17,976 23,334 COMPANY COMPANY |
2021 2020 £ £ 2,486 1,967 118,737 44,337 13,500 15,500 134,723 61,804 2021 2020 £ £ - - - - 17,845 19,110 131 4,224 17,976 23,334 COMPANY COMPANY |
|---|---|---|---|
| 23,334 |
Deferred income comprises of group only advance ticket sales and trade stand bookings related to the Spring 2022 Flower Show to be held in April 2022.
| Balance as at 1 January Amount released to income from commercial trading operations Amount deferred in the year Balance as at 31 December 17 CREDITORS-AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans - 1-2 years Bank loans - 2-5 years Bank loans - more than 5 yrs by instalments |
2021 2020 £ £ 50,000 52,050 116,668 156,150 - 7,100 166,668 215,300 GROUP |
2021 2020 £ £ 56,738 260,598 (56,738) (260,598) 172,491 56,738 172,491 56,738 2021 2020 £ £ - - - - - - - - COMPANY |
2020 £ 260,598 (260,598) 56,738 |
|---|---|---|---|
| 56,738 | |||
| - |
The loan is a Coronavirus Business Interruption Loan. This carries a government guarantee for £200,000. The balance is unsecured.
18 OPERATING LEASE-GROUP
| The total of future minimum lease payments under non-cancellable operating leases are: Not later than one year: Later than one year and not later than five years: Later than five years: 19 The tax charge on incoming resources for the year was as follows: UK corporation tax TAXATION Current tax: |
2021 £ 170,422 270,200 59,160 499,782 2021 £ - - |
2020 £ 246,681 153,410 67,320 |
|---|---|---|
| 467,411 | ||
| 2020 £ - |
||
| - |
The company, as a registered charity, is exempt from taxation. The tax charge above relates entirely to the company’s subsidiary undertaking.
Page 19
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY
(A REGISTERED CHARITY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
19 TAXATION - continued
| Subsidiary tax reconciliation Profit/(loss) on ordinary activities before tax (see note 9) Effects of: Donation to parent charity Loss carried forward Loss to carry forward against future profits Profit/(loss) on ordinary activities multiplied by the standard rate of corporation tax in the UK (19%) |
2021 £ (70,649) (13,423) - - 13,423 - |
2020 £ (299,676) |
|---|---|---|
| (56,938) - - 56,938 |
||
| - |
20 ANALYSIS OF CHARITABLE FUNDS
ANALYSIS OF UNRESTRICTED FUNDS OF THE CHARITY GROUP
| Balance at 1 January 2021 Income Expenditure Balance at 1 January 2021 Income Expenditure Gains and losses Balance at 31 December 2021 Balance at 31 December 2021 COMPANY Gains and losses |
Subsidiary trading funds £ (298,934) 850,791 (921,440) - (369,583) |
General £ 471,522 30,559 (92,889) 99,043 508,235 General £ 471,522 30,559 (92,889) 99,043 508,235 |
Designated £ 750,000 - - - 750,000 Designated £ 750,000 - - - 750,000 |
Total £ 922,588 881,350 (1,014,329) 99,043 |
|---|---|---|---|---|
| 888,652 | ||||
| Total £ 1,221,522 30,559 (92,889) 99,043 |
||||
| 1,258,235 |
In accordance with the Charity’s Reserves Policy, as set out in the ‘Council of Management’s Report on the Group Accounts’ on page 4, the Council of Management have designated funds to the future show contingency fund.
ANALYSIS OF UNRESTRICTED FUNDS OF THE CHARITY - PREVIOUS YEAR GROUP
| Balance at 1 January 2020 Income Expenditure Gains and losses Balance at 31 December 2020 |
Subsidiary trading funds £ 742 7,246 (306,922) - (298,934) |
General £ 489,850 47,745 (94,432) 28,359 471,522 |
Designated £ 750,000 - - - 750,000 |
Total £ 1,240,592 54,991 (401,354) 28,359 |
|---|---|---|---|---|
| 922,588 |
Page 20
THE NORTH OF ENGLAND HORTICULTURAL SOCIETY
(A REGISTERED CHARITY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
20 ANALYSIS OF CHARITABLE FUNDS - continued
| Balance at 1 January 2020 Income Expenditure Gains and losses Balance at 31 December 2020 COMPANY |
General 489,850 47,745 (94,432) 28,359 471,522 |
Designated 750,000 - - - 750,000 |
Total 1,239,850 47,745 (94,432) 28,359 |
|---|---|---|---|
| 1,221,522 |
21 RELATED PARTY TRANSACTIONS
During the year, Newby Hall purchased sales space and advertising within the Harrogate Spring Flower Show to the value of £nil (2020: £nil). The society has rented office space from Newby Hall to the value of £18,446 (2020:£19,587). L Compton is employed by Newby Hall, a sole trading business operated by her husband (R Compton). At the balance sheet date, £nil is outstanding.
Stephen Smith Garden and Leisure purchased advertising space from Harrogate Flower Show Limited, totalling £nil (2020: £nil) during the year. This is a partnership in which C Smith is a partner. At the balance sheet date, £nil is outstanding.
Page 21