Registered Company number 02408904 Registered Charity number 803015 TENDRING HUNDRED FARMERS, CLUB (A company limited by guarantee) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS 30 SEPTEMBER 2024 THFC
TENDRING HUNDRED FARMERS, CLUB CONTENTS Pages Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 17
TENDRING HUNDRED FARMERS. CLUB TRUSTEES, REPORT The trustees present their report and the unaudited financial statements for the year ended 30 September 2024. This report is also a Directors. Report required under Section 417 of the Companies Act as all Trustees are Directors. The financial statements comply with the current statutory requirements, the Memorandum and Articles of Association. the Companies Act and the Statement of Recommended Practice Accounting and Reporting by Charities (FRS102). The Trustees who have held office during the year are noted below. Reference and Administrative Details The charity "Tendring Hundred Farmers Club. has a registered charity number of 803015 and registered company number of 02408904. The address of the principal office of the charity is THFC Office, Admirals Farm. Great Bentley, Colchester, Essex, England, C07 8RS. The charity website is www.tendringshow.co.uk The trustees (who were also directors) set out below have held office during the whole of the year to the date of this report, unless otherwise stated: Mrs C Parker (chairman) MrWBKing Mr J H Jiggens Mr D Brooks Mr D W Hunter MrT M Isaac The appoinlment of directors is by election at the Annual General Meeting. Executive Committee: MrWBKing Mrs C Parker Mr J H Jiggens Mr D Brooks Mr D W Hunter Mr T M Isaac Mr T Berryman Mr S Collis Mr T C Glover Ms V Brooks Ms K Holt Mr J Groom Mr J Smith Mr D Lord Mr S Rowe Mrs C Coyles-crust Mr S Rose
TENDRING HUNDRED FARMERS, CLUB TRUSTEES, REPORT Reference and Administrative Details (continued) Independent examiner Tim O'connor ACA FCCA Scrutton Bland Limited 820 The Crescent Colchester Business Park Colchester Essex C04 9YQ Bankers Barclays Bank plG 9 High Street Colchester C03 3EN Solicitors Sparling Benham and Brough 3 West Stockwell Street Colchester C01 1HQ Showground director Mr D Brooks Structure, Governance and Management The Tendring Hundred Farmers, Club is a company limited by guarantee and a registered charity governed by its Memorandum and Articles of Association dated 12 June 1989. The Executive Committee of the Club is responsible for the affairs of the Club but is able to delegate powers to sub-committees as appropriate and in the manner permitted by the Club's Articles of Association. The appointment of directors is by election at the Annual General Meeting. Objectives and activities The main objects of the club are to advan and improve agriculture and horticullure for the public benefit and to encourage skill and industry therein and in all trades, crafts and professions connected therewith. Also to promote the benefit of the inhabitants of the Tendring Hundred in the County of Essex by advancing education and the encouragement of the arts, sciences and conservation matters with the object of improving the condition of life of the said inhabitants.
TENDRING HUNDRED FARMERS, CLUB TRUSTEES, REPORT Financial review The main source of income for the Club is the Tendring Hundred Show. This is vulnerable to the effects of the weather and other external factors. Weather conditions were fair this year, although during the lead up to the Show, it had been wet and attendance was slightly down compared to last year. This year's costs also include £48.713 legal fees relating to an ongoing dispute over the ownership of the showground land. The result is a net deficit of £12,220 for the year. The club also reiVeS annual subscriptions. Reserve policy and risk managemant Because the main source of income is vulnerable to fluctuation the trustees believe that it is prudenl to maintain reserves at a level sufficient to cover the maximum committed expenditure that might arise in a particular year. The designated funds held are for the following purposes.. IT improvements This is held for the purpose of updating the database and general IT improvements. This has been fully utilised in the year. Showground improvements This is held for the purpose of showground improvements including fencing and gateways. Significant risks The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charitsble company. and are satisfied that systems are in place to mitigate our exposure to the major risks. Public benefit In setting out the charity's objectives the Club has given careful consideration to the Charity Commission's guidance on public benefit. In doing so, the Club has complied with the duties in this area as set out in Section 17 of the Charities Act 2011.
TENDRING HUNDRED FARMERS, CLUB TRUSTEES, REPORT Trustees. responsibilities The trustees {who are also directors of the Tendring Hundred Farmers, Club for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial ststements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees must prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure, of the charitable company. for that period. In preparing these financial statements, the trustees are required to".
Select suitable accounting policies and then apply them consistent5y', ObseNe the methods and principles in the Charities SORP,. Make judgments and accounting estimates that are reasonable and prudent. State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and., Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disc105e with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities Small Company Provisions This report has been prepared in accordan with the special provisions for small companies under part 15 of the Companies Act 2006. Signed by order of the board ce Mrs C Parker Chairman Approved by the board on
TENDRING HUNDRED FARMERS, CLUB INDEPENDENT EXAMINER"S REPORT TO THE TRUSTEES OF TENDRING HUNDRED FARMERS, CLUB CHARITABLE COMPANY I report to the trustees (who are also Directors forthe purpose of company law) on my examination of the financial statements of Tendring Hundred Farmers, Club ('the charitable company,) for the year ended 30 September 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is made solely to the charity's trustees. as a body, in accordan with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters l am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body. for my work, for this report, or for the opinions I have formed. Responsibilities and basis of report As the trustees of charitable company you are responsible for the preparation of the financial statements in accordan with the requirements of the Companies Act 2006 ('the 2006 Act.). Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charilable company's financial statements carried oul under section 145 of the Charities Act 2011 ('the 2011 Act.) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently l express no opinion as to whether the financial statements present a 'true and fair, view and my report is limited to those specific matters set out in the independenl examiner's statement. Independent examiner"s statement sin the charitable company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect".
accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Acl; or the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair view which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practi for accounling and reporting by Charities applicable to Gharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
TENDRING HUNDRED FARMERS, CLUB INDEPENDENT EXAMINER"S REPORT TO THE TRUSTEES OF TENDRING HUNDRED FARMERS, CLUB CHARITABLE COMPANY I hav8 no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. TIM O'CONNOR FCCA, ACA Scrutton Bland Limited. 820 The Crescent, Colchester Business Park, Colchester, Essex. C04 9YQ Date L+ I,q
TENDRING HUNDRED FARMERS, CLUB STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 30 SEPTEMBER 2024 Unrestrlcted Restricted Funds Funds Total Funds Notes 2023 Income from: Donations and grants Charitable activities Other trading activities Inveslments 2,948 273,654 47,743 9,706 35,218 38,166 273,654 47,743 9,706 6, 145 267, 552 49,260 5,362 Total income 334,051 35,218 369,269 328,319 Expended on: Raising funds Charitable activities 31,301 344,395 31,301 350,188 14,535 338, 696 5,793 Total resources expended 375,696 5,793 381,489 353, 231 Net incomel{expenditure) Total funds brought forward (41,645) 319,418 29.425 5,203 (12,220) 324.621 (24,912) 349,533 Total funds carried forward 14-15 £ 277,773 £ 34,628 £ 312,401 £ 324,621 The statement of financial activities includes all gains and losses recognised in this and the prior year. All activities relate to continuing operations. The income and expenditure in 2023 all relates to unrestricted funds.
TENDRING HUNDRED FARMERS, CLUB BALANCE SHEET AS AT 30 SEPTEMBER2024 Notes 2023 Fixed assets Tangible assets 87,913 78, 964 Current assets Debtors Cash at bank and in hand 12 7,388 220,546 4,585 255, 584 227.934 260, 169 Creditors: amounts falling due within one year 13 3,446 14,512 Net current assets 224,488 246,657 Total assets less current liabilities £ 312,401 £ 324,627 Funds Unrestricted funds: Designated funds General charitable funds Restricted funds 14 24,000 253,773 34,628 38,000 281,418 5,203 15 £ 312,401 £ 324,621 For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audil in accordan with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requ1MentS of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the board of trustees on on its behalf by {,.IL and signed Mr J H Jlggens Trustee Mrs C Parker Trustee Charity number: 803015 Company number: 02408904
TENDRING HUNDRED FARMERS, CLUB NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 1.1 GENERAL INFORMATION Tendring Hundred Farmers. Club is a company limited by guarantee, registered in England and Wales, registered number- 02408904. The registered address is THFC Office, Admirals Farm, Great Bentley, Essex , C07 8RS. 1.2 ACCOUNTING POLICIES Basis of accounting The financial statements have been prepared in accordance with Ihe Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Finanoial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), Charities SORP (FRS102) and the Charities Act 2011. Cash flow The Charity qualifies as a small charity as defined in the Charities SORP (FRS102) Bulletin 1 and as such is exempt from preparing a Statement of Cash Flows. Income All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in the future period. Donations are recognised when received by or on behalf of the charity. No amounls are included in the financial statements for services donated by volunteers. Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assuran that the grant Conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the perfomian conditions are met. Where a grant does not specify performance condilions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability,
TENDRING HUNDRED FARMERS, CLUB NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES (contlnued) Restricted and designated funds Funds restricted by the donor are treated as restricted funds. Details of restricted funds can be found in note 15. All other receipts are unrestricted funds however the charity has designated part of these funds for specific purposes. Details of designated funds can be found in note 14. General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objects of the charity and which have not been designated for other purposes. Charitable activities include expenditure incurred in the govemance of the charity and its assets. These are primarily associaled with constitutional and statutory requirements. Expenditure Expenditure is recognised in the Slatement of Financial Activities when a liability is incurred. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the activity. Charitable activities include expenditure incurred in the governance of the charity and its assets. These are primarily associated with constitutional and statutory requirements. Costs of generating funds include the costs of special events. Support costs are those cosls incurred directly in support of expenditure on the objects of the charity and include a proportion of salaries and expenses and office running costs calculated on a percentage basis of income generated by these activities. Resour5 expended include attributable VAT which cannot be recovered. Tangible fixed assets and depreciation Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.. Buildings Equipment 5% oncost 200/0 and 33 113 Oh on cost No depreciation is provided on freehold land. 10
TENDRING HUNDRED FARMERS, CLUB NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES (continued) Pension costs The charity operates a defined contribution pension scheme, the assets of which are held separately from those of the charity in an independently administered fund. Contributions are charged to the income and expenditure account for the year in which they are payable to the scheme. Taxation The Club is a charity within the meaning of the Charities Act 2011 and as such is a charity within the meaning of Part 11, Corporation Tax Act 2010. Accordingly, the Club is potentially exempt from taxation in respect of income or gains received within categories covered by Part 11, Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to its charitable purposes. Financial instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets or financial liabilities Short term debtors (financial assets) are measured at transaction price. Short term creditors (financial liabilities) are measured at the transaction pri. The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. 2 INCOME FROM DONATIONS AND GRANTS 2024 2023 Donations-unreslricted Donations-restricted 2,948 35,218 6, 145 £38,166 £6,145 3 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Subscriptions Show income Compensation 37.571 236,083 27,859 236,905 2, 788 £ 273,654 £267,552 11
TENDRING HUNDRED FARMERS, CLUB NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 4 INCOME FROM OTHER TRADING ACTIVITIES 2024 2023 Sponsorship Social events 43,528 4,215 37,738 11.522 £ 47,743 £49,260 S INVESTMENT INCOME 2024 2023 Interest re1vable £ 9,706 £5,362 6 OPERATING COSTS The excess of income over expenditure is stated after charging: 2024 2023 Depreciation Staff costs - Salaries (see note 10) Independent examination 4,261 50.067 2,150 1,213 50,569 2, 050 7 EXPENDITURE ON FUND RAISING Activities undertaken dlrectly Support Total costs 2024 Total 2023 Sponsorship 31,301 31,301 14,535 £ 31,301 £ 31,301 £14,535 12
TENDRING HUNDRED FARMERS, CLUB NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 8 EXPENDITURE ON CHARITABLE ACTivfiES Activities Undertaken Support Directly costs Total 2024 Total 2023 Subscriptions General expenses 14,395 90,458 14,395 335,793 9,227 329,469 245,337 £ 245,337 £ 104,851 £ 350,188 £ 338,696 9 SUPPORT COSTS 2024 2023 Office running expenses Salaries and expenses Depreciation 81,829 50,067 4,256 50, 795 50, 569 863 £ 136,152 £ 102,227 These costs are apportioned by reference to the level of income generated. 13
TENDRING HUNDRED FARMERS, CLUB NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 10 STAFF COSTS 2024 2023 Wages and salaries Pension costs Private health care insuran 44,753 5,314 44, 705 5,864 £ 50,067 £ 50,569 The average monthly number of employees during the year was 2 (2023: 2). Contributions of £5,314 (2023: £5,864) were made to a defined contribution pension scheme on behalf of 18mployee (2023: 1). The above represents senior management remuneration. No remuneration or expenses are paid to trustees. No employee was paid over £60,000 during the year. 11 TANGIBLE FIXED ASSETS Freehold land and buildings Equipment Total Cost At 1 October 2023 Additions 85,247 49,604 13,210 134,851 13.210 At 30 September 2024 85,247 62,814 148,061 Depreciation At 1 October 2023 Charge for the year 15,950 39.937 4,256 55,887 4,261 At 30 September 2024 15,955 44,193 60,148 Net book values At 30 September 2024 £ 69.2g2 £ 18,621 £ 87,913 At 30 September 2023 £ 69,297 £ 9.667 £ 78,964 The freehold land and buildings and equipment are used for direGtly Charitable purposes. The freehold land and buildings includes land of £ 69,292 that is not depreciated. 14
TENDRING HUNDRED FARMERS, CLUB NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 12 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade Debtors Other Debtors 1,326 3,259 7,388 £ 7,388 £4,585 13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Accruals and other creditors Other taxes 82 3,364 6,130 3,949 4,433 £ 3,446 £ 14,512 14 UNRESTRICTED FUNDS Balance at Movement in funds Balance at 1 October Incoming 30 September 2023 resources {Expenditure) Transfers 2024 Designated funds: IT improvements Showground improvement 8,000 30,000 (8,000) (6,000) 24,000 38,000 281,418 (14,000) 14,000 24.000 253,773 General charitable funds 334,051 (375,696) £ 319,4t8 £334,051 £(375,696) £ 277,773 The designated funds are held for the following purposes; IT improvement This is held for the purpose of updating the database and general IT improvements. This has been fully utilised in the year. Showground improvement This is held for the purpose of showground improvements including fencing and gateways. 15
TENDRING HUNDRED FARMERS, CLUB NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 15 RESTRICTED FUNDS Balance at Movement in funds Balance at 1 October Incoming 30 September 2023 resources (Expenditure) Transfers 2024 Trees reserve Goat reserve Education reserve Farm Comp. reserve 5,203 5,203 16,500 8,000 4,925 20,000 10,000 5.218 {3,500} {2,000} (293} £ 5,203 £ 35,218 {£ 5,793) £ 34,628 The restricted funds are held for the following purposes; Trees reserve This is held for the purchase and maintenance of trees. Goat reserve This is held for the future expenses incurred in relation to the Goats at the show. Education reserve This is held for future expenses incurred on the Education section at the show. Fann Competition reserve This is held for future expenses incurred in running the farm competitions at the show. 16 ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible fixed assets Net current assets Totsl Unrestricted funds Designated funds: IT improvement Showground improvement 24,000 24.000 Undesignated funds: General charitable funds Restricted funds 24,000 165,860 34,628 24,000 253,773 34.628 87.913 Total funds £ 87,913 £ 224,488 £ 312,401 16
TENDRING HUNDRED FARMERS, CLUB NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 17 COMMITMENTS Capital commitments At 30 September 2024 there were no capital expenditure commitments. Pension commitments At 30 September 2024 the charity had annual commitments of £2,640 (2023: £2,640). 18 LEGAL STATUS The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £1. For this purpose 'members' includes persons who ceased to be members within one year of such a winding-up. At 30 September 2024, the club had 797 members (2023: 891). 19 RELATED PARTY TRANSACTIONS The charity has no material related party transactions. 17