2022-12-31-accounts

The DMOS People West Midlands Showground Berwick Road Shrewsbury Shropshire SY1 2PF Telephone: [phone] Email: [e-mail] www.westmidshowground.com

Charity Registration Number: 702372 Company Registration Number: 2073471

Treasurers Report

11th Sept 2023

Welcome

Since the passing of Mr Richard Breeze (Former Trustee and Treasurer) we have been working diligently in making sense of our accounts.

Richard left a huge hole in the operation of the Society and it has taken several years to “Catch Up” on the accounts in particularly making sure we have adequate reporting and that cost and income centres are coded correctly giving us a much more accurate and daily reporting.

Two years ago, we changed from the Sage accounting system to a cloud based software package named Xero, this has made a large impact in us in achieving accurate reporting.

The accounts in 2022 show a much more accurate picture within the budget codes do not use 2021 as a comparison. I expect 2023 again to be highly accurate with the new systems we now have in place.

I am delighted to say finally in the ten years since I have been here we have now accurate Show accounts (2023) and I am able to share these with you today as well.

I will draw your attention to the summary by Robert Humphreys of JHP who states.

“The Balance sheet remains solvent The accounts show an increase in income for the year of £736,676k and a modest net deficit of the year of £17.4k” Net current assets of £114.5k with a total asset of £179.1k Shows that the organisation remains in a positive position”

Whilst it is disappointing that we show a net deficit, we did do a lot of “catch up” on depreciation attributing a £25k cost on our bottom line.

A traveller incursion prior to last years show which attributed a £25k cost to us which was made up of security costs and having to refund the travellers initial booking of £5,500.

Electricity Costs also increased year on year by £10k

Donations totalling £7k

Improvements in site infrastructure including but not limited to

• More Hard standing facilities for campers.

Purchase of a new shower block via a grant scheme , although we had to contribute £5k towards this, it has proved an invaluable asset.

Taking everything into account with the continuing improvements on site to increase income opportunities and the unfortunate traveller incident would have resulted in a very healthy profit.

County Show

We were able to in 2023 run detailed accounts and it is important that the costs of the Show remain tight as a “wet show” would have a potential catastrophic impact on the Society however the Society are in a strong position to withstand this impact.

Shops

We opened another shop in Church Stretton in October and this would have had both an impact on some of costs and income

The Shops now consistently bring in an extra approximate cash value of between £18kk to £20k per month with an average profit element of between £5 to £9k.

This has enabled the Society to be more pro active within its rural community already giving financial assistance and grants to the following.

• Main Sponsor of Shropshire YFC & Contributing significantly to their attendance cost to the Shropshire County Show.

• Monthly donations to the Shropshire Rural Communities Charity and RABI

• Grinshall Dog Rescue – To help fix wind damage to their roof

• and Wem cemeteries to cover the budget shortfall in maintenance.

• And many other small groups and societies including providing fundraising opportunities e.g.

• Breast Cancer Care Royal Shrewsbury hospital

• Various Primary Schools throughout our community (ticket give a ways and the like)

Other activities

Hirers remain strong and a variety of events take place, and focus still remains on upgrading the Showground and making continuous improvements year on year as finances allow.

Relationship with its local Residents remain positive and has come a very long way from when I first attended a meeting here, although some noise complaints this year from the Heal Festival and Folk festival were apparent and we are working closely with Shropshire Licensing in mitigating future complaints.

Expenditure

Remains consistent, the obvious noticeable element is the increase in staff costs due to the increased Shop and support staff.

Summary

Showground Electricity remains the singular most concerning cost element with an expected increase in our annual bills of up to potentially £20k

The accounts show steady growth year on year and with the Shops income and profit could mean that we will continue to grow significantly over the next few years.

Focus needs now to review the event costings as our core costs are increasingly significantly, but opportunities exist with growing markets in particular motor homing and caravanning opportunities.

Finally

I would like to pay gratitude to our volunteers, Trustees past and present and the staff of the Society who have realised with a great deal of commitment and dedication.

Ten years ago when I arrived I asked what was our ultimate goal, what did we want to achieve.

These were.

• Being Financially Sound.

We are well on our way to achieving this, whilst we continue to grow, we are in a healthy position going forwards.

• Giving Back to Our Community

With the launch of the “Win A Grant” scheme has meant we have achieved what we set out today and the Society Trustees (past and present), staff, volunteers should be extremely proud of all of what we have achieved.

Ian Bebbington

Chief Executive Officer

Company Registratlon No. 2073471 (England and WalÈsl Charity Registration No. 702372 SHROPSHIRE AND WEST MIDLANOS AGRICULTURAL SOCIETY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY CONTENTS Page Trustees report Independent examiner's report Statement of financ181 activities Balance sheet Notes lo the financial slalemenls 6-15

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr N Sadler Mr P Thorneycroft Mrs D Evans Secretary Mr N Sadler Charity number 702372 Company number 2073471 Registered office The Agricultural Showground Berwick Road Shrewsbury Shropshire SY12PF Independent examlner James Holyoak & Parker Limited 1 Knights Court Archers W8y Battlefield Enterpnse Park Shrewsbury SY1 3GA Society President Mr R Home Banker5 HSBC 33- 36 High Street Shrewsbury Shropshire SY1 1SL

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The Iruslee5 present their annual report and financial statements for the year ended 31 December 2022. The financial slatemen15 have been prepared In a¢cord2nce wlh the accounting policies sel out in note 1 to the financial statements and comply with the society's governing document, the Companies Act 2006 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo chaiilies prepering their accounts in accordance with the Financial Reporting Slandarcl applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. Oblèctives and activities Charltsble objectlves To promote agriculture and all of ils various branches, encourage Skill and industry in 81101 its trade5, crafts and professions and to hold an annual show lo help to promote all of the above Short temi oblectives The main objective in 2022 was lo recover from the effects of flooding In 2019f20 and also lo re-establish the Society as it recovered from the effeds of COVID-19. This was being led by a five-year business plan which we have put into practice. We have now successfully paid oft the final balance on the Creditois Voluntary Agreernenl ICVAI The Iruslees are constantly mindful of the fact that Dur success end indeed failure is very much wbiecl to the vagaries of the climale. We have beèn really fortunate with Ihe weather for the Show over the last fpw years and this year's event did. In f8¢1, make a small profil end the Bonfire and Fireworks night was a selkoul with more than 6000 attendees e8rning a substantial profil. Camping and caravanning continues lo be a main Income stream, however with the relaxation of COVID rules has meant the Showground has retumed to more norm81 programme of events throughout the year. We Continue lo increase the number of permanent electric hook-ups for caravanning leading lo a growth in the number of hirers and relum bookings. The Charity Shops, now numbering six, with a new Shop opened In Church Stretlon in October 21 and ¢ontinue lo be very successful and, combined with the surplus stock donated from the weekly car bool Sales, PTodLJce a he8llhy income which provides a cash flow during the winter months when even15 are less frequent an(1 also take away some of the pressure caused by our susceptibility to winter flooding. The prime objective of the trustees remains the delivery ol an annu81 County Show and every other activtsty al the Showground is towards thi5 end. The trustees are however aware of their responsibilities lo the farrning community in Shropshire and, although we had to curtail payments during the main COVID periocs, we are now financially sound enough again lo provide funding in the form ol bursarie5 to agricultural students who are studying in the county, we are also underpinning the Shropshiie Federation of Young Farmers Clubs in various ways and Village Halls continue lo be supported via Ihe Communty Council of Shropshire. The trustees have paid due regard lo guidance issued by Ihe Charity Commission in deciding what 8Ctivities the society should undertake. Voluntèers The Show is organised into Sections". Horse, Cattle, Sheep, Poultry, Marketing, Membership, Foors Hall and Gates, each section has an organising committee who report lo the Show Chairman, Mr Neale Sadler. Volunteers provide a very considerable contribution lo the Society in assisting with the pieparations and running of the County Show. bul also at a number ol other fundraising events on the Showground throughout the year. Trustees ¢onlribute a ¢onsidef8ble level of lirne in their task ol running the Society. The benefit lo the Society ol the work of the Trustees, Section committees 8nd Volunteers is significant in helping to reduce costs.

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY TRUSTEES REPORT IINCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Achievements and performance The 2022 show, was a successful show with a good allendance botssled by people's desire lo attend events again after the easing of the COVID restrictions. Based upon the very positive feedback we received about the show, Il was a Major success. Financially, we are on a stable fooling, 8nd we are now looking towards further improvements lo the Showground. Financial review Risk management The major risks, to which the charity is exposed, as identified by the Trustees, have been reviewed and systems have been established lo manage those risks. Structure, governance and management The society 1S 2 company limited by guarantee and a registered charity govemed by Its memorandurn and artic5es ol association. Every member of the Society has guaranteed lo contribute up to £10 in the event of a winding up. The trustees, who are also the cjirectors for the purpose ol ¢c>mpany law, and who served during the year anLI up lo the date of Signatu￿ of the financial slalemènts were". Mr N Sadler Mr M Jame5 Mr P Thorneycroft Mi L Jackson Mrs R Alton Mrs D Evans (Resigned 3 November 20221 (Resigned 29 December 20221 (Resigned 17 October 20221 Our main Sponsors, The Greenhous Group of Companies. continue lo support us both financially and through their business acumen and Mr Martin James is a Trustee appointed by them to sil on the Board,. this was thar final year of Sponsorship as per the ini1181 agreement. Trustees who are appointed are required to be Subscribing members of the Society and duly elected by 8 meeting of the Trustee Board. Trustees 8Te recnjited for their expert15e in a variety of fields relevant lo the activities of the Society." these include agriculture, education, advertising and cDmmercial experien￿ and finance. The Society reqtjires Trustees to be familiar with company law and charity law as il applies lo the activities of the Society and where indudion is required this is provided by the voluntary se¢tor support unit Df Shropshire Community Support The Trustees meet bi-monthly and at each meeting review forecast income and expenditure over the preceding months as well as comrnilrnenls lo expenditure 8nd projected income over the succeeding two months. We continue to seek new Trustees, particularly those with a financial background to fill the Treasurer's role although. as we have now moved over lo a new accounting syslem which ensures that our financial staternenls are much easier to produce and are lar more accurate, we see this role now as being a Management Accounting role Talher than Ihe more traditional 'Treasurer' The Iruslees report wa5 approved by the Board of Trustees. Mr N Sadler Trustèe 26 June 2023

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY I report lo the Iruslees on my examination ol the financial statements of Shropshire and Wesl Midlands Agri¢ultural Society (the society) for the year ended 31 December 2022 Responsibilities and basls of report As the trustees cjf the society land a150 Ils directors for the purposes ol company lawl you are responsible lor the preparation ol the financial slalements in accordance with the requirements of the Companies Act 20[￿ (the 2006 Act) Having satisfied myself that the financial statements of the Society are not required lo be audited under P8rt 16 01 the 2006 Act and are eligible lor independent examination. I report in respect of my examination of the society's financial slalemenls Carried out under section 145 01 the Charities Act 2011 Ilhe 2011 Acll. In carrying oul my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 A¢t. Independent examlner'$ statement Since the society's gross income exceeded £250,000 your examiner must be a member of a body listèd in section 145 of the 2011 Act. I confim th81 Iam qu81ified to undert8ke the examination because l am a member of , which is one of the listed bodies. I have completed my examination I confirm that no matters have come lo my attention in conneth'on with the examination giving me cause to believe that in any material respect.. accounting records weie not kept in respect of the Society as required by section 386 of the 2006 Act., or the financial slatements do not accord wlh those records.. or the financial statements do not comply with the eccovnling r&quiremenls of section 396 of the 2006 Act other than any requirement that the accounts give 8 true and fair view which Is not 8 matter considered as part of an independent examination.. Dr the financial statements have not been prepared in accordance wrth the methods and principles ol the Statement of Recommended Practice for ￿￿ountIng 2nd reporbng by charities applicable lo ¢harities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK a Republic of Ireland IFRS 1021 I have no concerns and have Goffie 8cr055 llo other matters In connection with the examination lo which attention shoul(5 be drawn in thi5 report in order lo enable a proper understanding of the financial statements lo be reached -f CLK ie~ James Holyoak & Parker Limited 1 Knights Court Archer5 Vvay Battlefield Enterprise Park Shrewsbury SY1 3GA Dated.. 26 June 2023

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestrlcled Unrestrlcted fund5 funds 2022 2021 Notes Income an endo Voluntary income en sfr 450 2,505 Show Shops Other activities foT generating funds Other income 253,267 292,455 188,171 2,333 171,865 189.139 131.365 148,743 Total income 736,676 643,617 Cost ol show Cost of shops other expenses Governance 159.423 211,503 377,481 5,718 74.913 202.139 284,198 8.174 Total charitable expenditure 754,125 569,424 Net lexpendlturellincome for the yearl Net movement in funds 117,4491 74,193 Fund balances a11 January 2022 196,557 122,364 Fund balances at 31 December 2022 179,108 196,557 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities The slalemenl ol financial activities also complies wrth the requirements foi an income and expenditure account under the Companies Act 2006.

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Notes Fixèd asset5 Tangible assets 11 104,510 111,246 Currènt assets SIDcks Debtors Cash al bank and in hand 12 13 3,140 18.249 168,261 2,298 9.137 190.272 189,650 201.707 Credltors.. amounts falllng due wlthln one year 15 175,0521 (61,3961 Net current assets 114,598 140,311 Total assets less cur￿lIt liabilities 219,108 251,557 Creditors- amounts falling due after more than one year 16 140.0001 155,0001 Net assets 179.108 198,557 Income funds Unrestricted ftjnds 179,108 196,557 179,108 196.557 The company 15 entitled lo the exemption from the audit requirement Contained in section 477 of the Gompanies Act 2006, for the year ended 31 December 2022. The directors acknowledge their resFK)nsibilrties for complying with the requirements of the Companies Act 2006 with respect to accounting record5 the prep8r81ion of financial statements. The members have not required the company to obtain an audit of ils financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provision5 applicable lo Companies subject lo the small companies regime. The financial slalements were approved by the Trustees Dn 26 June 2023 Mr N Sadler Trustee Company règlstratlon number 2073471

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies Charity Informatlon Shropshire and West Midlands Agricultural Society IS 8 private company limited by guarantee incorpoialed In England and Wales. The registered office is The Agricultural Showground, Berwick Road, Shrewsbury. Shropshire. SY1 2PF. 4.1 A¢countlng conventlon The financial statements have been prepared in accordance with the society's Igoverning documenll, the Companies Act 2006. FRS 102 The Financial Reporting Standaid applicable in the UK and Republic ol Ireland. I'FRS 102.1 and the Charities SORP Accounting and Reporting by Charities.. St8lement ol Recommended Practice applicable lo chaiilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK 2ncI Republic of Ireland IFRS 1021" leffedive 1 January 20191. The society is a Public Benefit Entity as defined by FRS 102. The society has taken advantage of the provisions in the SORP for charities not to prepare a Statement ol Cash Flows The financial statements are prepared in sterling, which is the functional currency of the society. Monetary amounts in these financial slalemenls are rounded lo the nearest £. The financial statements have been prepared Ljnder the historical cost convention The principal 8ccount1ng policies adopted are set out below. 1.2 Golng concern Al the time of approving the financial stalemenls. the Irusleès have a reasonable expectation that the society has adequate resource5 to continue in operational existence for the foreseeable futltre. Thus the Iruslees continue lo adopt the going concern basis ol accounting in preparing the financi81 statements. 1.3 Charitable funds Unreslricled fund5 are available for use at the discretion of the trustees in furtherance of their charitable obieclives. Reslricled funds are subject to specific conditions by donors as lo how they may be used. The purposes and uses of the ￿$trIcted ftjnds are sel out in the notes to the fin8ncial slalements. Endowment funds are subject lo specifi¢ conditions by donors that the capital must be maintained by the society. 1.4 Income Income is reeognised when the Society is legally enlilled lo il after any performance condition5 have been mel. the atllounls can be measured reliably, and it is probable that income wi11 be received. Cash donations are recognised on receipt Other donations are recognised once the society has been notified of the donation. unless performance conditions require deferral ol the amount. Income tax recoverable In relation to donations received under Gift Aid or deeds of covenant is recognised al the time of the donation. Lega¢ies are recognised on receipt or otherwise if the society has been nolrfied of an impending dislribulion. the amoLJnt is known, and receipt Is expected If the amount is not known, the legacy is treated as onlingenl asset. All membership subscriptions are credvced as received. Sponsorship income norm211y takes account of 'in kind assistance including loans of equipment made free Df charge. Cost5 would normally have been increased by the same amount as if we had paid lor these items However, for these accounts those figure5 have not been included.

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies Icontinuedl Where goods, service5 and labour are provided free ol charge and the value can be reasonably quantified, an appropriate amount of volunlery income is re¢ognised in the Slalernenl of Financial Adivilies 8nd is matched by an equivalent amount under an appropriate heading. 1.5 Expenditure Expenditure is reco9nised once there is a legal or constructive obligation lo Ir8nsler economic benefit lo a third pariy, il is probable that a transfer of economic benefits will be required In selllemenl, and the aFnounl ol the obligation can be Measured reliably Expenditure is classifiecl by activity. The costs of each 3¢livily are made up of the to181 of dir&t costs and shared costs, Including support costs involved In undertaking each activity. Direct costs allribulable lo a single aclivily are allocated directly to that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned be￿een those activities on a basis ¢ons1s1enl with the use of resources. Central staff costs are allocated on the basis ol lime spent, and depreciation charges are allocated on the portion ol the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured al c051 or valuation, net ol depreciation and any impairment losses. Depreciation is recognised so as to Wrlte off the cost or valuation of assets less their residual values over their vseful live5 on the following bases.. Property Improvements Show ground equipment Trophie5 and cups Computers Motor vehicles 10°h on cost 100A on cost Not depreciated 20% 10 33°A on cost 200/0 on cost The gain or loss arising on the disposal tsf an asset is determined as the drfference between the sale proceeds and the carrying value of the asset, and is recognised in the 51alemenl of financial activities. Depreciation is not charged wthin the year of 8cquisilion. The trophies and cups held by the soaely are included within tangible fixed assets al market value. 1.7 Impairment of fixed assets Al each reporting end date. the society reviews the carrying amounts of ils tangible asse15 to determine whether there is any indication that those assets h8ve suffered an irnpairment loss. If any such indication exists, the recoverable amount of the asset is eslimaled in order to determine the exlenl of the impairment loss lif any). 1.8 Stocks Stocks are staled al the lower ol ¢0$1 and estimated selling price less costs lo complete and sell. Cost comprises direct materials and, where applicable, direct labtsur costs and those overheads that have been incurred bringing Ihe stocks lo their present location ¢ondition. Items held for distribution al no or nominal consideration are measured the lower of replacement ¢osl and Cost Nel realis8ble value Is the estimated selling price less all estimated costs ol completion and costs lo be incurred in marketing, selling and distribution.

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Critical accounting estlmates and judgements In the application of the society's a¢counting policies, the Iruslees are required to make judgements, estimates and assumptions about the Carrying amount of assets and liabilities that are not readily apparent from other source5. The eslimales and associated assumptions are based on historical experience and other factors that re considered lo be relevant Actual results may differ from these estimates The estimates and underlying assumptions are reviewed on an ongoing basis Revisions to 8ccounling estimates are recognised In the period in whi¢h the eslim8te is revised where the revision affe¢ls ￿lY that period, Dr In the period of the revision and future periods where the revision affects both current and future periods. Voluntsry income Unrestrleted Unrestrictèd funds funds 2022 2021 Donations and gifts 450 2,505 Charitable activities Show Shops Total 2022 Show Shops Totsl 2021 2022 2022 2021 2021 Income Gift aid 253.267 288,926 3,529 542,193 3,529 171.865 183,776 5,363 355.641 5,363 253.267 292,455 545,722 171,865 189.139 361.004 Other a¢tivitles for generating funds Unrèstricted Unrestricted fvnds funds 2022 2021 Letting income Fundraising events 134,883 53,288 101.995 29,370 Other activities for generating fund5 188,171 131,365

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng policies Icontlnvedl 1.9 Cash and cash equlvalents Cash and cash equiv8lenls 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 Flnan¢ial instrumènts The soaely has elected lo apply the provisions of Section 11 'Basic Fin8n¢ial Inslrumenls, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of ils financial instrurnenls. Financial instruments are re¢ognised in the society's balance sheet when the society becomes party lo the conlr8clual provisions of the instrLJmenl. Financial assets and liabilities are offset, with the nel amounts presented in the financi81 statements. when Iheie is a legally enforceable right lo sel off the re￿nised amounts and there is an intention to settle on a nel basis or lo realise the a55et and sellle the liability simultaneously. Basic financial assets Basic financial assets. which Include debtors and cash and bank balances, are initially measLJred at transaction PTi¢e inclLJding trensaclion costs and are subsequently carried at amortised ¢osl 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 maKkel rale of interest. Financi81 assets classified as receivable within one year are not amortised. Basic financial liabillties Basic financial liabilities, in¢luding creditors and bank loans are initially recognised al trans8Ction price llnless the arrangement constilules a financing transaction, where the debt instrument Is measured at the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligations to pay lor goods or services that have been acquired in the ordinary course ol operations from suppliers. Amounts payable are classified as current liabilities if payment is due within One year or less. 11 not, they are presented as non-currenl liabilities. Trade creditors are recognised initially 81 Iran58Ction price and subsequently measured al amortised cost using the effective Interest method. Derecognition of financial Ilabilities Firiancial liabilities are derecognised when the society's contr8¢tual obligations expire or are discharged or cancelled. 1.11 Employee ben¢flts The cost of any unused holiday enlillement is recognised In the period in which the employee's services are received. Termination benefi15 are recognised immediately as an expense when the society is demonstrably commilled lo terminate the employment ol an employee or to piovide termination benefits. 1.12 Retlremerit benefits Payments lo defined contribution retirement benefit scheme5 are charged as an expense as they lall due.

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 other Income Unrestricted Unrestricted funds tunds 2022 2021 Government support grants for coionavirus Job retention scheme income 2,333 100,296 48.447 2,333 148,743 Charitabl& activities Cost of show 2022 Cost of shops 2022 other Governance experbsès 2022 Total 2022 Total 2021 2022 Staff costs Depreciation Show Telephone License fees Postage and stationery Repairs and maintenance Gfound maintenance Rale5 and water Light and heal Insurance IT and sofvare Rent Bank charges Interest payable Advertising and publiaty Professional fees Other expenses 121,786 142.789 22,509 264,575 22,509 159,423 3,090 1,401 7.328 46,224 17,778 278 60.101 11,339 5,348 73,298 3,175 3,191 19,607 3.240 52.220 214,370 26,121 74,913 5,119 1.037 4,427 34,866 9,385 778 34,550 23,801 9,356 72,791 4.378 1,223 4,668 2.800 44,843 159,423 2,268 822 1,401 2,813 46.224 17,778 278 44,428 11,339 5,348 26,250 3,175 3,191 19,607 4.515 15,673 47,048 3,240 2,478 20,213 29,529 159,423 211,503 377,481 5,718 754,125 569.424 159,423 211.503 377,481 5,718 754.125 569.424 10

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charitable activltSes Icontlnuedl For the year ended 31 December 2021 Cost of show Cost of shops Other Goverrbance expenses Total 2021 Staff Costs Depreciation and Impairment Show Telephone License fees Postage and slalionery Repairs and maintenance Ground rnaintenance Rates and water Light and heat Insurance IT and software Rent Bank charges Interest payable Advertising and publicity Professional fees Other charitable expenditure 133,048 81,322 26,121 214,370 26,121 74,913 5,119 1,037 4,427 34,866 9,385 776 34,550 23,801 9,356 72,791 4.378 1.223 4.668 2.800 44,843 74.913 1,496 3.623 1,037 2.202 34,866 9,385 776 28,676 23.801 9,356 30.250 4,378 1,223 4.668 2,225 5.874 42,541 2,800 5,374 16,955 22,514 74,913 202,139 284,198 8.174 569,424 74.913 202,139 284,198 8,174 569,424 Analysls by fund Unreslricled funds 74,913 202,139 284,198 8.174 569.424 Trustees None of the Iruslees lor any persons connected with them) received any remuneration or benefi15 from the society during the year. Employees The average monlhly number of employees during the year was.. 2022 Number 2021 Number Adminislralion Shop 12 Total 14

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Employees Icontlnuedl Employment costs 2022 2021 Wages and salaries Social security costs Olhei pension costs 249,434 10.878 4,263 198,614 12,362 3,394 264,575 214,370 There were no employees whose annual remuneration was MO￿ th2n £60,000. 10 Taxatlon The charity is exempt from tax on income and 9ains falling within section 505 Df the Taxes Act 1988 or section 252 of the Taxationof Ghargeable Gains Act 1992 to the extent that these are applied to it5 ¢harilable objects. 12

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 12 Stocks 2022 2021 Finished goods and goods for resale 3,140 2,298 13 Debtors 2022 2021 Amounts falling due wlthin one year.. Trade debtors Prepayments and accrued income 17,329 920 9,080 57 18,249 9,137 14 Loans and overdrafts 2022 2021 Bank loans 55,000 70,000 Payable within one year Payable after one year 15,000 40,000 15,000 55,000 15 Creditors= amounts falling due within one year 2022 2021 Notes Bank loans Other laxalion and social security Trade ¢ieditors Accruals and deferred income 14 15,000 12,639 18,168 29,245 15,000 16.612 12,039 17,745 75,052 61,396 16 Creditors: amounts falling due after more than one year 2022 2021 Notes Bank loans 14 40.000 55.000 14

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 17 Operatlng lease commitments Al the reporting end dale the society had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which 1811 due as follows. 2022 2021 Within one year Between Iwo and five years 23,500 14,375 23,500 37.875 37.875 61,375 15

Company Registratlon No. 2073471 (England and WalÈsl Charity Registration No. 702372 SHROPSHIRE AND WEST MIDLANOS AGRICULTURAL SOCIETY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY CONTENTS Page Trustees report Independent examiner's report Statement of financ181 activities Balance sheet Notes lo the financial slalemenls 6-15

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr N Sadler Mr P Thorneycroft Mrs D Evans Secretary Mr N Sadler Charity number 702372 Company number 2073471 Registered office The Agricultural Showground Berwick Road Shrewsbury Shropshire SY12PF Independent examlner James Holyoak & Parker Limited 1 Knights Court Archers W8y Battlefield Enterpnse Park Shrewsbury SY1 3GA Society President Mr R Home Banker5 HSBC 33- 36 High Street Shrewsbury Shropshire SY1 1SL

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The Iruslee5 present their annual report and financial statements for the year ended 31 December 2022. The financial slatemen15 have been prepared In a¢cord2nce wlh the accounting policies sel out in note 1 to the financial statements and comply with the society's governing document, the Companies Act 2006 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo chaiilies prepering their accounts in accordance with the Financial Reporting Slandarcl applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. Oblèctives and activities Charltsble objectlves To promote agriculture and all of ils various branches, encourage Skill and industry in 81101 its trade5, crafts and professions and to hold an annual show lo help to promote all of the above Short temi oblectives The main objective in 2022 was lo recover from the effects of flooding In 2019f20 and also lo re-establish the Society as it recovered from the effeds of COVID-19. This was being led by a five-year business plan which we have put into practice. We have now successfully paid oft the final balance on the Creditois Voluntary Agreernenl ICVAI The Iruslees are constantly mindful of the fact that Dur success end indeed failure is very much wbiecl to the vagaries of the climale. We have beèn really fortunate with Ihe weather for the Show over the last fpw years and this year's event did. In f8¢1, make a small profil end the Bonfire and Fireworks night was a selkoul with more than 6000 attendees e8rning a substantial profil. Camping and caravanning continues lo be a main Income stream, however with the relaxation of COVID rules has meant the Showground has retumed to more norm81 programme of events throughout the year. We Continue lo increase the number of permanent electric hook-ups for caravanning leading lo a growth in the number of hirers and relum bookings. The Charity Shops, now numbering six, with a new Shop opened In Church Stretlon in October 21 and ¢ontinue lo be very successful and, combined with the surplus stock donated from the weekly car bool Sales, PTodLJce a he8llhy income which provides a cash flow during the winter months when even15 are less frequent an(1 also take away some of the pressure caused by our susceptibility to winter flooding. The prime objective of the trustees remains the delivery ol an annu81 County Show and every other activtsty al the Showground is towards thi5 end. The trustees are however aware of their responsibilities lo the farrning community in Shropshire and, although we had to curtail payments during the main COVID periocs, we are now financially sound enough again lo provide funding in the form ol bursarie5 to agricultural students who are studying in the county, we are also underpinning the Shropshiie Federation of Young Farmers Clubs in various ways and Village Halls continue lo be supported via Ihe Communty Council of Shropshire. The trustees have paid due regard lo guidance issued by Ihe Charity Commission in deciding what 8Ctivities the society should undertake. Voluntèers The Show is organised into Sections". Horse, Cattle, Sheep, Poultry, Marketing, Membership, Foors Hall and Gates, each section has an organising committee who report lo the Show Chairman, Mr Neale Sadler. Volunteers provide a very considerable contribution lo the Society in assisting with the pieparations and running of the County Show. bul also at a number ol other fundraising events on the Showground throughout the year. Trustees ¢onlribute a ¢onsidef8ble level of lirne in their task ol running the Society. The benefit lo the Society ol the work of the Trustees, Section committees 8nd Volunteers is significant in helping to reduce costs.

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY TRUSTEES REPORT IINCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Achievements and performance The 2022 show, was a successful show with a good allendance botssled by people's desire lo attend events again after the easing of the COVID restrictions. Based upon the very positive feedback we received about the show, Il was a Major success. Financially, we are on a stable fooling, 8nd we are now looking towards further improvements lo the Showground. Financial review Risk management The major risks, to which the charity is exposed, as identified by the Trustees, have been reviewed and systems have been established lo manage those risks. Structure, governance and management The society 1S 2 company limited by guarantee and a registered charity govemed by Its memorandurn and artic5es ol association. Every member of the Society has guaranteed lo contribute up to £10 in the event of a winding up. The trustees, who are also the cjirectors for the purpose ol ¢c>mpany law, and who served during the year anLI up lo the date of Signatu￿ of the financial slalemènts were". Mr N Sadler Mr M Jame5 Mr P Thorneycroft Mi L Jackson Mrs R Alton Mrs D Evans (Resigned 3 November 20221 (Resigned 29 December 20221 (Resigned 17 October 20221 Our main Sponsors, The Greenhous Group of Companies. continue lo support us both financially and through their business acumen and Mr Martin James is a Trustee appointed by them to sil on the Board,. this was thar final year of Sponsorship as per the ini1181 agreement. Trustees who are appointed are required to be Subscribing members of the Society and duly elected by 8 meeting of the Trustee Board. Trustees 8Te recnjited for their expert15e in a variety of fields relevant lo the activities of the Society." these include agriculture, education, advertising and cDmmercial experien￿ and finance. The Society reqtjires Trustees to be familiar with company law and charity law as il applies lo the activities of the Society and where indudion is required this is provided by the voluntary se¢tor support unit Df Shropshire Community Support The Trustees meet bi-monthly and at each meeting review forecast income and expenditure over the preceding months as well as comrnilrnenls lo expenditure 8nd projected income over the succeeding two months. We continue to seek new Trustees, particularly those with a financial background to fill the Treasurer's role although. as we have now moved over lo a new accounting syslem which ensures that our financial staternenls are much easier to produce and are lar more accurate, we see this role now as being a Management Accounting role Talher than Ihe more traditional 'Treasurer' The Iruslees report wa5 approved by the Board of Trustees. Mr N Sadler Trustèe 26 June 2023

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY I report lo the Iruslees on my examination ol the financial statements of Shropshire and Wesl Midlands Agri¢ultural Society (the society) for the year ended 31 December 2022 Responsibilities and basls of report As the trustees cjf the society land a150 Ils directors for the purposes ol company lawl you are responsible lor the preparation ol the financial slalements in accordance with the requirements of the Companies Act 20[￿ (the 2006 Act) Having satisfied myself that the financial statements of the Society are not required lo be audited under P8rt 16 01 the 2006 Act and are eligible lor independent examination. I report in respect of my examination of the society's financial slalemenls Carried out under section 145 01 the Charities Act 2011 Ilhe 2011 Acll. In carrying oul my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 A¢t. Independent examlner'$ statement Since the society's gross income exceeded £250,000 your examiner must be a member of a body listèd in section 145 of the 2011 Act. I confim th81 Iam qu81ified to undert8ke the examination because l am a member of , which is one of the listed bodies. I have completed my examination I confirm that no matters have come lo my attention in conneth'on with the examination giving me cause to believe that in any material respect.. accounting records weie not kept in respect of the Society as required by section 386 of the 2006 Act., or the financial slatements do not accord wlh those records.. or the financial statements do not comply with the eccovnling r&quiremenls of section 396 of the 2006 Act other than any requirement that the accounts give 8 true and fair view which Is not 8 matter considered as part of an independent examination.. Dr the financial statements have not been prepared in accordance wrth the methods and principles ol the Statement of Recommended Practice for ￿￿ountIng 2nd reporbng by charities applicable lo ¢harities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK a Republic of Ireland IFRS 1021 I have no concerns and have Goffie 8cr055 llo other matters In connection with the examination lo which attention shoul(5 be drawn in thi5 report in order lo enable a proper understanding of the financial statements lo be reached -f CLK ie~ James Holyoak & Parker Limited 1 Knights Court Archer5 Vvay Battlefield Enterprise Park Shrewsbury SY1 3GA Dated.. 26 June 2023

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestrlcled Unrestrlcted fund5 funds 2022 2021 Notes Income an endo Voluntary income en sfr 450 2,505 Show Shops Other activities foT generating funds Other income 253,267 292,455 188,171 2,333 171,865 189.139 131.365 148,743 Total income 736,676 643,617 Cost ol show Cost of shops other expenses Governance 159.423 211,503 377,481 5,718 74.913 202.139 284,198 8.174 Total charitable expenditure 754,125 569,424 Net lexpendlturellincome for the yearl Net movement in funds 117,4491 74,193 Fund balances a11 January 2022 196,557 122,364 Fund balances at 31 December 2022 179,108 196,557 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities The slalemenl ol financial activities also complies wrth the requirements foi an income and expenditure account under the Companies Act 2006.

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Notes Fixèd asset5 Tangible assets 11 104,510 111,246 Currènt assets SIDcks Debtors Cash al bank and in hand 12 13 3,140 18.249 168,261 2,298 9.137 190.272 189,650 201.707 Credltors.. amounts falllng due wlthln one year 15 175,0521 (61,3961 Net current assets 114,598 140,311 Total assets less cur￿lIt liabilities 219,108 251,557 Creditors- amounts falling due after more than one year 16 140.0001 155,0001 Net assets 179.108 198,557 Income funds Unrestricted ftjnds 179,108 196,557 179,108 196.557 The company 15 entitled lo the exemption from the audit requirement Contained in section 477 of the Gompanies Act 2006, for the year ended 31 December 2022. The directors acknowledge their resFK)nsibilrties for complying with the requirements of the Companies Act 2006 with respect to accounting record5 the prep8r81ion of financial statements. The members have not required the company to obtain an audit of ils financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provision5 applicable lo Companies subject lo the small companies regime. The financial slalements were approved by the Trustees Dn 26 June 2023 Mr N Sadler Trustee Company règlstratlon number 2073471

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies Charity Informatlon Shropshire and West Midlands Agricultural Society IS 8 private company limited by guarantee incorpoialed In England and Wales. The registered office is The Agricultural Showground, Berwick Road, Shrewsbury. Shropshire. SY1 2PF. 4.1 A¢countlng conventlon The financial statements have been prepared in accordance with the society's Igoverning documenll, the Companies Act 2006. FRS 102 The Financial Reporting Standaid applicable in the UK and Republic ol Ireland. I'FRS 102.1 and the Charities SORP Accounting and Reporting by Charities.. St8lement ol Recommended Practice applicable lo chaiilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK 2ncI Republic of Ireland IFRS 1021" leffedive 1 January 20191. The society is a Public Benefit Entity as defined by FRS 102. The society has taken advantage of the provisions in the SORP for charities not to prepare a Statement ol Cash Flows The financial statements are prepared in sterling, which is the functional currency of the society. Monetary amounts in these financial slalemenls are rounded lo the nearest £. The financial statements have been prepared Ljnder the historical cost convention The principal 8ccount1ng policies adopted are set out below. 1.2 Golng concern Al the time of approving the financial stalemenls. the Irusleès have a reasonable expectation that the society has adequate resource5 to continue in operational existence for the foreseeable futltre. Thus the Iruslees continue lo adopt the going concern basis ol accounting in preparing the financi81 statements. 1.3 Charitable funds Unreslricled fund5 are available for use at the discretion of the trustees in furtherance of their charitable obieclives. Reslricled funds are subject to specific conditions by donors as lo how they may be used. The purposes and uses of the ￿$trIcted ftjnds are sel out in the notes to the fin8ncial slalements. Endowment funds are subject lo specifi¢ conditions by donors that the capital must be maintained by the society. 1.4 Income Income is reeognised when the Society is legally enlilled lo il after any performance condition5 have been mel. the atllounls can be measured reliably, and it is probable that income wi11 be received. Cash donations are recognised on receipt Other donations are recognised once the society has been notified of the donation. unless performance conditions require deferral ol the amount. Income tax recoverable In relation to donations received under Gift Aid or deeds of covenant is recognised al the time of the donation. Lega¢ies are recognised on receipt or otherwise if the society has been nolrfied of an impending dislribulion. the amoLJnt is known, and receipt Is expected If the amount is not known, the legacy is treated as onlingenl asset. All membership subscriptions are credvced as received. Sponsorship income norm211y takes account of 'in kind assistance including loans of equipment made free Df charge. Cost5 would normally have been increased by the same amount as if we had paid lor these items However, for these accounts those figure5 have not been included.

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies Icontinuedl Where goods, service5 and labour are provided free ol charge and the value can be reasonably quantified, an appropriate amount of volunlery income is re¢ognised in the Slalernenl of Financial Adivilies 8nd is matched by an equivalent amount under an appropriate heading. 1.5 Expenditure Expenditure is reco9nised once there is a legal or constructive obligation lo Ir8nsler economic benefit lo a third pariy, il is probable that a transfer of economic benefits will be required In selllemenl, and the aFnounl ol the obligation can be Measured reliably Expenditure is classifiecl by activity. The costs of each 3¢livily are made up of the to181 of dir&t costs and shared costs, Including support costs involved In undertaking each activity. Direct costs allribulable lo a single aclivily are allocated directly to that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned be￿een those activities on a basis ¢ons1s1enl with the use of resources. Central staff costs are allocated on the basis ol lime spent, and depreciation charges are allocated on the portion ol the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured al c051 or valuation, net ol depreciation and any impairment losses. Depreciation is recognised so as to Wrlte off the cost or valuation of assets less their residual values over their vseful live5 on the following bases.. Property Improvements Show ground equipment Trophie5 and cups Computers Motor vehicles 10°h on cost 100A on cost Not depreciated 20% 10 33°A on cost 200/0 on cost The gain or loss arising on the disposal tsf an asset is determined as the drfference between the sale proceeds and the carrying value of the asset, and is recognised in the 51alemenl of financial activities. Depreciation is not charged wthin the year of 8cquisilion. The trophies and cups held by the soaely are included within tangible fixed assets al market value. 1.7 Impairment of fixed assets Al each reporting end date. the society reviews the carrying amounts of ils tangible asse15 to determine whether there is any indication that those assets h8ve suffered an irnpairment loss. If any such indication exists, the recoverable amount of the asset is eslimaled in order to determine the exlenl of the impairment loss lif any). 1.8 Stocks Stocks are staled al the lower ol ¢0$1 and estimated selling price less costs lo complete and sell. Cost comprises direct materials and, where applicable, direct labtsur costs and those overheads that have been incurred bringing Ihe stocks lo their present location ¢ondition. Items held for distribution al no or nominal consideration are measured the lower of replacement ¢osl and Cost Nel realis8ble value Is the estimated selling price less all estimated costs ol completion and costs lo be incurred in marketing, selling and distribution.

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Critical accounting estlmates and judgements In the application of the society's a¢counting policies, the Iruslees are required to make judgements, estimates and assumptions about the Carrying amount of assets and liabilities that are not readily apparent from other source5. The eslimales and associated assumptions are based on historical experience and other factors that re considered lo be relevant Actual results may differ from these estimates The estimates and underlying assumptions are reviewed on an ongoing basis Revisions to 8ccounling estimates are recognised In the period in whi¢h the eslim8te is revised where the revision affe¢ls ￿lY that period, Dr In the period of the revision and future periods where the revision affects both current and future periods. Voluntsry income Unrestrleted Unrestrictèd funds funds 2022 2021 Donations and gifts 450 2,505 Charitable activities Show Shops Total 2022 Show Shops Totsl 2021 2022 2022 2021 2021 Income Gift aid 253.267 288,926 3,529 542,193 3,529 171.865 183,776 5,363 355.641 5,363 253.267 292,455 545,722 171,865 189.139 361.004 Other a¢tivitles for generating funds Unrèstricted Unrestricted fvnds funds 2022 2021 Letting income Fundraising events 134,883 53,288 101.995 29,370 Other activities for generating fund5 188,171 131,365

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng policies Icontlnvedl 1.9 Cash and cash equlvalents Cash and cash equiv8lenls 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 Flnan¢ial instrumènts The soaely has elected lo apply the provisions of Section 11 'Basic Fin8n¢ial Inslrumenls, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of ils financial instrurnenls. Financial instruments are re¢ognised in the society's balance sheet when the society becomes party lo the conlr8clual provisions of the instrLJmenl. Financial assets and liabilities are offset, with the nel amounts presented in the financi81 statements. when Iheie is a legally enforceable right lo sel off the re￿nised amounts and there is an intention to settle on a nel basis or lo realise the a55et and sellle the liability simultaneously. Basic financial assets Basic financial assets. which Include debtors and cash and bank balances, are initially measLJred at transaction PTi¢e inclLJding trensaclion costs and are subsequently carried at amortised ¢osl 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 maKkel rale of interest. Financi81 assets classified as receivable within one year are not amortised. Basic financial liabillties Basic financial liabilities, in¢luding creditors and bank loans are initially recognised al trans8Ction price llnless the arrangement constilules a financing transaction, where the debt instrument Is measured at the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligations to pay lor goods or services that have been acquired in the ordinary course ol operations from suppliers. Amounts payable are classified as current liabilities if payment is due within One year or less. 11 not, they are presented as non-currenl liabilities. Trade creditors are recognised initially 81 Iran58Ction price and subsequently measured al amortised cost using the effective Interest method. Derecognition of financial Ilabilities Firiancial liabilities are derecognised when the society's contr8¢tual obligations expire or are discharged or cancelled. 1.11 Employee ben¢flts The cost of any unused holiday enlillement is recognised In the period in which the employee's services are received. Termination benefi15 are recognised immediately as an expense when the society is demonstrably commilled lo terminate the employment ol an employee or to piovide termination benefits. 1.12 Retlremerit benefits Payments lo defined contribution retirement benefit scheme5 are charged as an expense as they lall due.

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 other Income Unrestricted Unrestricted funds tunds 2022 2021 Government support grants for coionavirus Job retention scheme income 2,333 100,296 48.447 2,333 148,743 Charitabl& activities Cost of show 2022 Cost of shops 2022 other Governance experbsès 2022 Total 2022 Total 2021 2022 Staff costs Depreciation Show Telephone License fees Postage and stationery Repairs and maintenance Gfound maintenance Rale5 and water Light and heal Insurance IT and sofvare Rent Bank charges Interest payable Advertising and publiaty Professional fees Other expenses 121,786 142.789 22,509 264,575 22,509 159,423 3,090 1,401 7.328 46,224 17,778 278 60.101 11,339 5,348 73,298 3,175 3,191 19,607 3.240 52.220 214,370 26,121 74,913 5,119 1.037 4,427 34,866 9,385 778 34,550 23,801 9,356 72,791 4.378 1,223 4,668 2.800 44,843 159,423 2,268 822 1,401 2,813 46.224 17,778 278 44,428 11,339 5,348 26,250 3,175 3,191 19,607 4.515 15,673 47,048 3,240 2,478 20,213 29,529 159,423 211,503 377,481 5,718 754,125 569.424 159,423 211.503 377,481 5,718 754.125 569.424 10

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charitable activltSes Icontlnuedl For the year ended 31 December 2021 Cost of show Cost of shops Other Goverrbance expenses Total 2021 Staff Costs Depreciation and Impairment Show Telephone License fees Postage and slalionery Repairs and maintenance Ground rnaintenance Rates and water Light and heat Insurance IT and software Rent Bank charges Interest payable Advertising and publicity Professional fees Other charitable expenditure 133,048 81,322 26,121 214,370 26,121 74,913 5,119 1,037 4,427 34,866 9,385 776 34,550 23,801 9,356 72,791 4.378 1.223 4.668 2.800 44,843 74.913 1,496 3.623 1,037 2.202 34,866 9,385 776 28,676 23.801 9,356 30.250 4,378 1,223 4.668 2,225 5.874 42,541 2,800 5,374 16,955 22,514 74,913 202,139 284,198 8.174 569,424 74.913 202,139 284,198 8,174 569,424 Analysls by fund Unreslricled funds 74,913 202,139 284,198 8.174 569.424 Trustees None of the Iruslees lor any persons connected with them) received any remuneration or benefi15 from the society during the year. Employees The average monlhly number of employees during the year was.. 2022 Number 2021 Number Adminislralion Shop 12 Total 14

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Employees Icontlnuedl Employment costs 2022 2021 Wages and salaries Social security costs Olhei pension costs 249,434 10.878 4,263 198,614 12,362 3,394 264,575 214,370 There were no employees whose annual remuneration was MO￿ th2n £60,000. 10 Taxatlon The charity is exempt from tax on income and 9ains falling within section 505 Df the Taxes Act 1988 or section 252 of the Taxationof Ghargeable Gains Act 1992 to the extent that these are applied to it5 ¢harilable objects. 12

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 12 Stocks 2022 2021 Finished goods and goods for resale 3,140 2,298 13 Debtors 2022 2021 Amounts falling due wlthin one year.. Trade debtors Prepayments and accrued income 17,329 920 9,080 57 18,249 9,137 14 Loans and overdrafts 2022 2021 Bank loans 55,000 70,000 Payable within one year Payable after one year 15,000 40,000 15,000 55,000 15 Creditors= amounts falling due within one year 2022 2021 Notes Bank loans Other laxalion and social security Trade ¢ieditors Accruals and deferred income 14 15,000 12,639 18,168 29,245 15,000 16.612 12,039 17,745 75,052 61,396 16 Creditors: amounts falling due after more than one year 2022 2021 Notes Bank loans 14 40.000 55.000 14

SHROPSHIRE AND WEST MIDLANDS AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 17 Operatlng lease commitments Al the reporting end dale the society had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which 1811 due as follows. 2022 2021 Within one year Between Iwo and five years 23,500 14,375 23,500 37.875 37.875 61,375 15