The DMOS People West Midlands Showground Berwick Road Shrewsbury Shropshire SY1 2PF Telephone: 01743 289831 Email: enquiries@westmidshowground.com 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