Moreton-in-marsh and District Agricultural and Horse Show Society Report and fmancial statements For the year ended 31 Oetober 2024 Tayabali Tomlin CharleredAccounlanls Kenton Hous¢ Oxford Street Moreton-in-marsh Glou¢estershir¢ GL56 OLA Company limited by guarantee Company number 2397134 Charity number 900122 Moreton-in-marsh and District Agricultural and Horse Show Society Company limited by guarantee: Inco￿orated number 2397134 Registered office and tradillg address: 5 Wychwood Court London Road morcton-in-Ma￿h Glouc¢stetshire GL56 OJQ Officers: The tompany is managed by a council, Consisting of a Chair, Vice-chair and members numbering not less than 20 and not more than 27. The Chair at the year-end was Mr Stuart Mace. The Vice-chair was Mr Stephen Parkes. A full list of the council members appears in the report of the council. Treasurer: MTS L Parkes 5 Wychwood Court London Road MoretOD-in-Marsh Glouc¢stersbire GL56 OJQ Telephone: 01608 651908 Bankers: Lloyds Bank PIC Higb Street Moreton-in-marsh Gloucestershire GL56 OAY Attountants: Tayabali Tomlin Chartcr¢d Accountants Kenton House Oxford Street Moreton-in-MaT5h Gloucestershi￿ GL56 OLA Solicltors: tAJdders Solicitors NumlKr Te￿ Elm Court Stratford-upon-Avon Warwickshire CV37 6PA Moreton-in-marsh and District Agricultural and Horse Show Society Report of the council The council submits its annual Teport. together with the accounts for the year ended 31 October 2024. Principal activities Thc principal activity of tbe company is to hold an annual agricultural and horse show and a Tange of crop, livestock and riaft on-fami competitions. Governance The Society was established by Memoiandum and Articles of Association signed on 28 March 1989 and incorporated on 21 June 1989, under which th¢ longest serving one-third of th¢ members of council retire each year. Vacancies are filled by election by the members at the Annual General Mecting. Objects The objcct8 for which the Society is estsblisbed are:. To promote the improvement in the breeding of livestock, hunters and heavy horses. To improve the standards of farniing and farni craft for farn]ers residing within an area fixed by the society. The holding of an Annual Show is specifically authorised in the Memorandum of Association. Brief Statement of Publle Beneflt Council considers that the objects set out above are fulfilled by the holding of the Annual Show and th¢ on-farm Competitions. The Show bas built up an enviable reputatloll for the quality of its livestock and hoises, hosting the National Shows of Poll HerG'ford Cattl¢ and of Cotswold Sheep alld a very liill l'ange of qualifying classes for the Horse of the Year Show as well as competitions for nurnerous other breed5 and claysifications. The effect is to encourage the very best in breeding and busbandry> especially when the cumulative result of this and other events As considered. On-fann coinpetitions Colltinue to attract significant entries and are adapted each year to current needs which are, however. frequently changed by market and fiscal effects. R￿VIt5 for the year, buslness review and future developments The 2024 Show was a hug¢ success. The weather wo8 perfect, slightly Cooler in the morning and turning brighter in the afternoon, perf¢ct conditions for a Sbow. Thousands of people turned out to attend this celebration of British agriculture and nwal life in the heart of the Cotswolds. The online ticketing system continuing to work extremely well. Advance tickets were sold online, also in local outlets who kindly assisted by selling advance tickets. The Vat structurc on ticket sales has changed to allow the SocAety not to charge Vat on tick¢t sales. This shift in process should b¢ beneficial to the Show. Increases in revenue in trade stallds, sponsors, livestock entri￿ and membership all indicate that Moreton Show is relevant and gaining strong support from the community for which it serves. Moreton-in-marsh and District Agricultural and Horse Show Society Report of the council (continued) Results for the year, business review and future developmenls (continued) Sponsorship incorne is very important to the Society and for 2024 raised a total of £99,448 (2023 £92,331) which was an amazing feat in the current climate and an increase of nn amazing 7.7Q/ts on the prior year. Catering commission has increased to £40,672 (2023 £40,086). our main caterers had queucs most of the day) as did the ice cream vans, bars and once again the local catering proved extrem¢ly popular. Grdnd Arena highlights included Hunter classes early in the morning, six bar show jumping challengc, Senior 1.25 Open Show Jumping and the magnificent sight of heavy borses. Th¢ Sh¢tland Pony Grand National and one of the best parades of livestock in the county fmished the day. In the Attractions Arena crowds enjoyed watcbing the Clumber Spaniels. RMP Bike TriAls team, a sheep dog display and parade of Vintage Tractors. Th¢ Farnitastic area was a huge suc¢¢ss. creating an environment for ViSRtors of all ages to learn more about fam]ing, rural crafts, and county living. The inclusion of Attwell Farn] Park and Oxford Sandy and Black pigs was a big hit and attracted a huge amount of visitors. Education is very important, and much ¢ffort was made lo cducate the visiting public about the various displays, demonstrations, and compctilions. The Livestock area was busy all day, the highlight was a very well supported Livestock Parad¢ in the Grand Arena in the afternoon. Entr[¢5 were strong in all sections and tbe quality of coinpetition was to an exceptionally Iligb standard. New for 2024 was the cattle rare breed classes that were kindly supported by local breeders. The Sheep Sh¢aring Compelition again proved to be a buge draw for the public and looks to be a pennanent fixture at the Show. Th¢ Sbow encourages the promotion of rural skills, and to try and educate tbe public of where their food come5 from. The Horse section entries iocreased dramatically compared to previous years, and almost got back to pre- covid figures. Moreton was one of the besi Shows of the season for their entry numbers which resulted in some logistical changes to manage and a vcry b￿NY Show day! Thankfully the team of stewaixls all did a fantastic job to ensure that the day ran smoothly, and we recL'ivcd a lot of positive feedback from compctitors. The British Show Jumping a￿lIlated competitions and the Arena Eventer Challenge classes were well supported and The Heavy Horse Display and Farriery Competition attracted large Crowds all day. The Home and Garden marquee was very well supported this year with over a thousand entries coming from localty and those from far afi¢ld" it looked fantastic. The marquee was full ol home-grown fruit, vegetablcs, flowers, fresh cakes along with homemade preserves and liquid refreshments. The handicrafts and children's class were also well supported. There were just short of 300 trade stands exhibiting at the Show. selling & broad range of producls and servic¢s. Trade stand numbers were around the same number5 achieved in the prcvious year. but not yet to pre-pandemi¢ levels. A growing number of businesses from thc Cotswolds are exhibiting at tbe event, this is great as the Show is strengthening ils position as a location to promote local ent¢rprise and innovation. Moreton Show continues to be one of the finest one-day agricultural shows in the UK, the Show has built a reputation for being a higb-quatity event showcasing the very best of fanning and associafrd industries in the Cotswolds. The Show is built on strong cllaritable principles, and for over 70 yeaTS has endeavoured to educate visitors about farn)ing and provide a platforn) for farmers to Compete their livestock and horses. Moreton-in-marsh and District Agriculthral and Horse Show Society Report of the council (continued) Result5 for the year, busines5 review and future devdopmcnls (continued) The feedback from the Show has been extremely positive, it was a great team effort and one everyone involved can be proud of. Looking fonyard to 2025, rising pric￿ and inflation are cemellting the need for careful budgeting. This has initiated a review of all systems and expenses to ¢nsure & cost effective and efficient operation moving forward. Additionally, a need to kecp the event dynamic and ¢volving to meet local trends and expectations is ¢ssential. The addition of new or enbanced features are being considcred, whilst the accessibility of the event for people with physical or mental impediments to all is also being reviewed and considered. There was an operating profit of £54,847 (2023: £56,874). Council menjbers and tlieir interests In the company The council members who served in the year are listed b¢low: A Godwin J Coker S Randall Mrs D Dewbery T Gardner D Gauld Miss SA Harrison T Hayman-Joyce Prof B Hooker TR Limbrick E Hicks Mrs S Eve SJ Parkes S Mace A Loker AHett Mrs R Smith S Bing Most members of council listed served on one or more sub-committees of the council during the year. Thc company is limited by guarantee and therefore has no share capital. Recrultrnent of COUllcII members Council members are usually recruited from amongst the co-opted members of the section committees and, thus, already have a working knowledge of Ibe Society's methods and activities. Newly elected tnembers receive an induction pack and are informally men¢or¢d by lh¢ chaimian of th¢ commilt¢¢ on which they were Previously serving. Reserves pollcy Council considers it prudent to maintain sutTi¢ient reserves to enable a completely cancelled show and on- farn] judging season, coupled with another poorly perforn]ing s¢ason, to be withstood without rendering the Society insolvent or unable to fimd a restart of aGtivities. Th¢ interesl on reserves is applied towar(ts n￿IntaIn1llg them at the requLTed level, having regard to infiation. This policy 15 reviewed each year when considering the draft annual accoiinls. Moreton-in-marsh and District Agricultural and Horse Show Society Report of the council (continued) Risk management Council actively revAews the major risks which the Society faces on a rcgular basis and b¢licvcs that maintaining reserves at the levels stated above will provide sufficient resources in the event of adverse conditions. Council has also examined other operdtional and business risks which the Society faces and confirni that they have established systems lo mitigate tbe significant risks. Jnvestment pollcy The Society aims to manage its affairs, particularly th¢ holding of th¢ annual show, so that its expenditure is met by income received. the majority of the income being received immediately before or at the Show and the majority of expenditure becoming due at or immediately after the Show. Administration costs are incuffed throughout the year and are met from subscriptions and othcr advance income, or from working capital. Surpluses arising beyond that required for inuncdiatc puEposes are invested ID short term interest bearing accounts. The society seeks to achieve a reasonable rate of return on its investments, to at l¢ast meet the effects of inflation on its reserve5, without Incu￿1n8 the high risks as.8ociat¢d witb highcr yield shoit term d¢posils. It is not considcrcd appmpriatc to appoint invc¥tmcni fund mana¥crs. Thc policy is revlewed at least annually. Council's responBlbllities Company Law and Charity Regulations require the council to prepare fmancial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those financial statements council is required to., s¢l¢ct suitsbE¢ accounting policies and then apply them consistently: tnake judgements that are reasonable and prudent; and prepare the fmancial statements on the going concern basis unless it is inappropriate to presume tbat the company will continue in busines& The ¢oun¢il i8 responsible for keeping proper accounting records wbich disclose with reasonable accuracy at any time the fmancial position of the company and to enable them to ensure that the financial statements comply wlth the Companies Act 2006 and with the Statement of Recommended Praclice for Charities. Council is also Tesponsible for safeguardillg the assets of the company and hence for taking reasonable Skps for tbe prevention and detection of fraud and other irregularities. This report ha5 been prepared in accordance with the Statement of Recon]mcnded Practice - Accounting and Reporting by Charities and in accordance with the special provisious of Part 15 of the Cornpanies Act 2006 relating to small companies. By order of th oun SJ Parkes Chair I l December 2024 Moreton-in~Marsh and District Agricultural and Horse Show Society Independent examiner's report to the ￿ernberS on the unaudited financial statements of Moreton-ln-marsh and District Agricultural and Horse Show Society We report on the financial statements of the society for the year ended 3 l October 2024 wbich Are sei out on pages seven to ftheen. Respective responslbllltles of the council members And rtportlng Accountants The council members (who are also directors of thc comp8ny for the PUTposes of company law) Hre responsible for the preparation of the fmaucial statements. The council members consider that audit is not required for this year under scction 144(2) of the Charities Act 2011 (the 2011 Act) that iDdependcTht examination is required. Having satisfied ourselves that thc charity is not gubject lo audit under company law and is eligible for independent examination, il is our responsibility to- examine the financial statements UTKl¢r section 145 of the 2011 Ac¢. lo follow ihe procedures laid down in the gen¢r81 Dite¢lions given by the Charity Commission under sc¢tion 145(5)(b) of the Aci. and lo slat¢ wh¢lh¢r particular matters bave come to our attention. Basls of Independent examlner'g report Our work w88 conducted in accordance with th¢ g¢n¢rnl Directions 8iven by the Chdrity Commission, An examination includes a review of Ihc a¢countin8 records kept by the charkty and a cornparison of Ili¢ fmallcilll st81em¢nts pr¢sented with tbose records. It also includes consideration of any unusual items or discl(YAures in the financial 51&lements. and seeking explanations from you as council m¢mbers concernillg any such matters. The procedures undertak¢rt do not provide all the evidence that would be required in an audit and consequently no opinion is 8iv¢Th as lo wli¢iher the financial ststements present a 'trnc and fair view, and the report is limited to thos¢ mattcrs set out in the statement below. llldependent examlDer'8 st4lcm¢nt In connc¢tion with our report, no matter has Com¢ to our attention: &) whi¢h gives ug reasonable cause to believ¢ Ibat in any matcrial respect the requirements: to keep accounting records in accordance with section 386 and 387 of the Companies Act 2006: and to prepare fmancial statements whicb accord with ihc ae¢owiting r¢¢onts, comply with the accounting requirements of section 394 and 395 of the Companies Act 2006 and with the methods and principle5 of the Slal¢m¢nt of Recommended Practice.. Ac¢ountxn8 and ReportTng by Charities. have not bcen met. or b) lo whi¢b. itl our OPlDion, attention sbould be drawn in order to enable a proper und¢￿tanding of the accounts lo be reacbed. Asad Noorani FCA Tayabali Tomlin CharleredAccountanls Kcnion House Oxford Street Moreton-in-marsb Gloucestershire GL56 OLA I l DeCe￿ber 2024 Moreton-in-marsh and District Agricultural and Horse Show Society Statement of financial activities for Éheyear ended 31 Oclober 2024 2024 2023 Nole Ineoming resources Incoming resourcagfrom genei'ated funds.. Voluntary income: Donations and grants Special prizes Activitie5 foT generating funds: Members subscriptions and fundraising events Investtnent income 11,432 99,448 2,001 92,332 56,714 6J63 53,478 1,372 Incoming resourcesfi'om charilable activilies.. Sbow receipt5 494,647 441,445 Other incoming resources., Othcr income 356 1,507 Total lllcomlng resources 668,960 592,135 Resource5 cxpended Chari¢able activitie3.' Dfjrect show ¢xp¢nses Support costs and management and administration 379,984 325,820 227,766 208,069 Total resources expended 607,750 533,889 Net Incoming resourcu for the year 61,210 58246 General fund balance brought foriyard 780,728 722,482 General fund balance cwrried fonvard 841?38 780,728 All of the company's funds form the general ￿nd and the total balanc¢ of this fund is unrestricted. Moreton-in-marsh and District Agricultural and Horse Show Society Profit and Ioss account for theyear ended 31 October 2024 2024 2023 Note Thrnover 662,597 590,763 Dirert costs 379,984 325,820 Gr055 profit 282,613 264,943 Administration expense5 227,766 208,069 Operatlng profltl(10gs) 54,847 56,874 Investment income 6,363 1,372 Net prollU(loss) for the finAnelAI year 61,210 58,246 Retained profit brought forward 780,728 722.482 Retalned profit carried forward 841,938 780,728 Moreton-in-marsh and District Agricultural and Horse Show Society Balance sheet at 31 October 2024 2024 2023 Note Fixed assets 336,784 340,908 Inyestments 4,S03 4,469 Current assets Debtors Cash at bal￿ and in hand 3,384 521,141 2,338 454,754 524,525 457.092 Credltors: amounts falling due wlthin one year 23,874 21,741 Net current assets 500,651 435,351 Total assets less current liabilities 841,938 780,728 Represented by: General reserve Balance brought forward Profit for the year ij 780,728 61,210 722.482 58,246 Balance ranied forward 841,938 780,728 Moreton-in-marsh and District Agricultural and Horse Show Society Balance sheet (continued) ai31 October 2024 The company is entitled to exemption from audit under Section 477 of the Compani&s Act 2006 for the year ended 3 l October 2024. The rnembers have not required Ibe company to obtain an audit of its financial State￿￿nts for the year ended 31 October 2023 in accordance with Scclion 476 of the Companies Act 2006. The council tnernbers acknowledge their responsibilitles for- (a) ensuring that the company keeps 84ccounting records which comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements whi¢lJ give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with th¢ requiremellts of Sections 394 and 395 and which othenvise comply with the r¢quir¢menls of the Companies Act 2006 relating to financial statements, so far as applicable to the company. These financial statLmcnts have been prcpared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to Sm