| Page | ||
|---|---|---|
| Legal and administrative information | 1 | to2 |
| Reportofthe Council | 3 | to10 |
| Reportofthe Independent Auditors | 11 | to13 |
| ConsolidatedStatementof Financial Activities | 14 | |
| Consolidated Balance Sheet | 15 | |
| , Society Balance Sheet | 16 | |
| '/ | ||
| Statements of Changes in Funds | 17 | |
| ConsolidatedCashFlow Statement | 18 | |
| Notes totheConsolidated Cash Flow Statement | 19 | |
| Notes to the Consolidated Financial Statements | 20 | to32 |
| REGISTERED OFFICE | RUAS Office |
|---|---|
| Eikon Exhibition Centre | |
| Balmoral Park | |
| Halftown Road | |
| Lisburn | |
| BT27 5RD | |
| AUDITORS | Baker Tilly Mooney Moore |
| Statutory Auditors | |
| 1 7 Clarendon Road | |
| Clarendon Dock | |
| Belfast | |
| Co Antrim | |
| BTl3BG | |
| SOLICITORS | Johns Elliott |
| 40 Linenhall Street | |
| Belfast | |
| BT28BA | |
| Mills Selig | |
| 21Arthur Street | |
| Belfast | |
| BTl4GA | |
| BANKERS | Danske Bank |
| Donegall Square West | |
| Belfast | |
| BTl6SJ | |
| CHARITIES COMMISSION | 101946 |
| REGISTERED NUMBER |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | 31.10.24 | 31.10.23 | ||
| Notes | £ | £ | £ | £ | |
| INCOME | |||||
| Voluntary income | 3 | 61,840 | 61,840 | 52,410 | |
| Activities for generating funds | 3 | 2,367,332 | 313 | 2,367,645 | 2,735,205 |
| Income from charitable activities | 3 | 3,332,688 | 3,332,688 | 3,093,009 | |
| TOTAL INCOME | 5,761,860 | 313 | 5,762,173 | 5,880,624 | |
| EXPENDITURE | |||||
| Costsofgenerating funds | 4 | 1,606,383 | 1,606,383 | 2,077,976 | |
| Charitable activities | 4 | 3,321,270 | 25 | 3,321,295 | 3,085,051 |
| Other expenditure | 4 | 384,504 | 200 | 384,704 | 342,186 |
| TOTAL EXPENDITURE | 5,312,157 | 225 | 5,312,382 | 5,505,213 | |
| NET INCOME | 449,703 | 88 | 449,791 | 375,411 | |
| Net gains/(losses) on investments | 994,951 | 994,951 | (52,437) | ||
| NET INCOME | 1,444,654 | 88 | 1,444,742 | 322,974 | |
| Total funds brought forward | 30,533,592 | 15,631 | 30,549,223 | 30,226,249 | |
| Total funds carried forward | 31,978,246 | 15,719 | 31,993,965 | 30,549,223 |
| 31.10.24 | 31.10.23 | ||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Intangible assets | 10 | 120 | 367 |
| Tangible assets | 11 | 17,196,676 | 18,073,006 |
| Investments | 13 | 11,131,373 | 9,947,343 |
| 28,328,169 | 28,020,716 | ||
| CURRENT ASSETS | |||
| Stocks | 27,549 | 40,040 | |
| Debtors | 14 | 484,998 | 483,205 |
| Cash at bank and in hand | 4,044,512 | 2,876,582 | |
| 4,557,059 | 3,399,827 | ||
| CREDITORS | |||
| Amounts falling due within one year | 15 | (853,055) | (837,167) |
| NET CURRENT ASSETS | 3,704,004 | 2,562,660 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 32,032,173 | 30,583,376 | |
| CREDITORS | |||
| Amounts falling due after more than one year | 16 | (38,208) | (34,153) |
| NET ASSETS | 31,993,965 | 30,549,223 | |
| FUNDS | |||
| Unrestricted funds | 18 | 31,978,246 | 30,533,592 |
| Restricted funds | 19 | 15,719 | 15,631 |
| TOTAL FUNDS | 31,993,965 | 30,549,223 |
| 31.10.24 | 31.10.23 | ||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Intangible assets | 10 | 120 | 367 |
| Tangible assets | 11 | 9,396,676 | 9,645,630 |
| Investments in group subsidiaries | 12 | 23,850,000 | 23,850,000 |
| Investments | 13 | 11,131,373 | 9,947,343 |
| 44,378,169 | 43,443,340 | ||
| CURRENT ASSETS | |||
| Stocks | 7,874 | 20,631 | |
| Debtors | 14 | 1,273,367 | 1,492,940 |
| Cash at bank and in hand | 1,468,351 | 363,452 | |
| 2,749,592 | 1,877,023 | ||
| CREDITORS | |||
| Amounts falling due within one year | 15 | (15,095,588) | {14,736,987) |
| NET CURRENT LIABILITIES | (12,345,996) | (12,859,964) | |
| ,'' TOTAL ASSETS LESS CURRENT LIABILITIES |
32,032,173 | 30,583,376 | |
| CREDITORS | |||
| Amounts falling due after more than one year | 16 | (38,208) | (34,153) |
| NET ASSETS | 31,993,965 | 30,549,223 | |
| FUNDS | |||
| Umestricted funds | 18 | 31,978,246 | 30,533,592 |
| Restricted funds | 19 | 15,719 | 15,631 |
| TOTAL FUNDS | 31,993,965 | 30,549,223 |
| Unrestricted | Restricted | Total funds |
|---|---|---|
| funds | funds | |
| £ | £ | £ |
| 30,210,677 | 15,572 | 30,226,249 |
| 322,915 | 59 | 322,974 |
| 30,533,592 | 15,631 | 30,549,223 |
| 1,444,654 | 88 | 1,444,742 |
| 31,978,246 | 15,719 | 31,993,965 |
| Unrestricted | Restricted | Total funds |
|---|---|---|
| funds | funds | |
| £ | £ | £ |
| 30,210,677 | 15,572 | 30,226,249 |
| 322,915 | 59 | 322,974 |
| 30,533,592 | 15,631 | 30,549,223 |
| 1,444,654 | 88 | 1,444,742 |
| 31,978,246 | 15,719 | 31,993,965 |
| 31.10.24 | 31.10.23 | ||
|---|---|---|---|
| £ | £ | ||
| Notes | |||
| Cash flows from O(!erating activities | |||
| Cash generated from operating activities | 1 | 409,342 | 938,087 |
| Net cash from operating activities | 409,342 | 938,087 | |
| Cash flows from investing activities | |||
| Purchaseoftangible fixed assets Proceeds from the saleofdevelopmentofland |
(271,882) 1,030,470 |
(337,629) 1,443,980 |
|
| Cash invested into investment portfolio | { 4,000,0002 | ||
| Net cash from investing activities | 758,588 | {2,893,6492 | |
| Increase/(Decrease) in cash and cash equivalents Cash and cash equivalents at beginningofyear |
2 | 1,167,930 2,876,582 |
(1,955,562) 4,832,144 |
| Cash and cash equivalents at endofyear | 2 | 4,044,512 | 2,876,582 |
| 1. | RECONCILIATION OF SURPLUS TO CASH EXPENDED ON OPERATIONS | RECONCILIATION OF SURPLUS TO CASH EXPENDED ON OPERATIONS | |
|---|---|---|---|
| 31.10.24 | 31.10.23 | ||
| £ | £ | ||
| Net movement in funds | 1,444,742 | 322,974 | |
| Amortisationofintangible fixed assets | 247 | 248 | |
| Depreciationoftangible fixed assets | 520,836 | 509,508 | |
| Gain on disposalofdevelopment land | (403,094) | (342,913) | |
| (Gains)/losses on Investing activities | (994,951) | 52,437 | |
| Realised Gain on disposalofinvestment | (55,102) | (28,043) | |
| Investment Income received into portfolio | (176,979) | (110,208) | |
| Investment fees paid outofportfolio | 43;002 | 24,586 | |
| 378,701 | 428,589 | ||
| Decrease/(Increase) in stocks | 12,491 | (1,262) | |
| (Increase)/ Decrease in trade and other debtors | (1,793) | 534,895 | |
| Increase/ (Decrease) in trade and other creditors | 15,888 | (27,673) | |
| Increase in deferred income | 4,055 | 3,538 | |
| Cash generated from operations | 409,342 | 938,087 |
| Year ended 31st October 2024 | ||
|---|---|---|
| 31.10.24 | 1.11.23 | |
| £ | £ | |
| Cash in hand | 1,047 | 541 |
| Bank deposits | 4,043,465 | 2,876,041 |
| 4,044,512 | 2,876,582 | |
| Year ended 31 October 2023 | ||
| 31.10.23 | 1.11.22 | |
| £ | £ | |
| Cashinhand | 541 | 381 |
| Bank deposits | 2,876,041 | 4,831,763 |
| 2,876,582 | 4,832,144 |
| NCOME | |||||
|---|---|---|---|---|---|
| Notes | Unrestricted | Restricted | Total Funds | Total Funds | |
| Funds | Funds | 31.10.24 | 31.10.23 | ||
| £ | £ | £ | £ | ||
| Voluntary income Members' subscriptions and |
61,840 | 61,840 | 52,410 | ||
| donations | |||||
| 61,840 | 61,840 | 52,410 | |||
| Activities for generating funds Commercial income |
5 | 2,082,123 | 2,082,123 | 2,522,340 | |
| Other income | 285,209 | 313 | 285,522 | 212,865 | |
| 2,367,332 | 313 | 2!367,645 | 2,735,205 | ||
| Income from charitable activities | |||||
| Balmoral Show income | 2,955,536 | 2,955,536 | 2,742,259 | ||
| Winter Fair income | 352,398 | 352,398 | 328,439 | ||
| Beefand Lamb income | 24,754 | 24,754 | 22,311 | ||
| 3,332,688 | 3,332,688 | 3,093,009 | |||
| 5,761,860 | 313 | 5,762,173 | 5,880,624 | ||
| EXPENDITURE | |||||
| Notes | Unrestricted | Restricted | Total | Total Funds | |
| Funds | Funds | Funds | 31.10.23 | ||
| 31.10.24 | |||||
| £ | £ | £ | £ | ||
| Costofgenerating funds Members' subscriptions Commercial activity |
5 | 102,291 1,504,092 |
102,291 1,504,092 |
96,969 1,981,007 |
|
| 1,606,383 | 1,606,383 | 2,077,976 | |||
| Charitable activities | |||||
| Agricultural shows | 6 | 3,315,105 | 25 | 3,315,130 | 3,069,523 |
| Other charitable activity support costs | 6,165 | 6,165 | 15,528 | ||
| 3,321,270 | 25 | 3,321,295 | 3,085,051 | ||
| Other expenditure Centralised costs |
384,504 | 200 | 384,704 | 342,186 | |
| Investment expenditure | |||||
| 384,504 | 200 | 384,704 | 342,186 | ||
| 5,312,157 | 225 | 5,312,382 | 5,505,213 |
| 31.10.24 | 31.10.23 | |
|---|---|---|
| £ | £ | |
| Commercialincome | 2,082,123 | 2,522,340 |
| 2,082,123 | 2,522,340 | |
| Support costs | ||
| Salaries and wages, labour and security | (403,547) | (366,596) |
| Direct expenses | (849,117) | (1,338,760) |
| Office costs | (48,351) | (49,910) |
| Establishment expenses | (203,077) | (225,741) |
| Development costs | ||
| {1,504,092) | {1,981,007} | |
| Net income | 578,031 | 541,333 |
| EXPENDITUREONCHARITABLE | ACTIVI | TIES | |||
|---|---|---|---|---|---|
| Notes | Unrestricted | Restricted | Total Funds | Total Funds | |
| Funds | Funds | 31.10.24 | 31.10.23 | ||
| £ | £ | £ | £ | ||
| Direct costs | |||||
| Prizes to exhibitors | 208,217 | 25 | 208,242 | 178,784 | |
| Ground preparation | 863,428 | 863,428 | 791,579 | ||
| Exhibition stand preparation | 64,678 | 64,678 | 55,094 | ||
| Judges' expenses | 29,236 | 29,236 | 24,188 | ||
| Catering costs | 78,301 | 78,301 | 56,220 | ||
| Advertising, promotion and printing | 132,543 | 132,543 | 124,796 | ||
| Attractions and associated costs | 86,677 | 86,677 | 79,989 | ||
| Costofcar parking facilities | 203,730 | 203,730 | 170,257 | ||
| Showground cleaning | 157,529 | 157,529 | 156,690 | ||
| Fees for services | 354,790 | 354,790 | 362,611 | ||
| Miscellaneous | 8,840 | 8,840 | 6,962 | ||
| 2,187,969 | 25 | 2,187,994 | 2,007,170 | ||
| Support costs relating to agricultural | 1,127,136 | 1,127,136 | 1,062,353 | ||
| shows | |||||
| Total expenditure relatingto | 7 | 3,315,105 | 25 | 3,315,130 | 3,069,523 |
| agricultural shows |
| TOTAL EXPENDIT | URE | |||||
|---|---|---|---|---|---|---|
| Employment | Depreciation Establishment | Other | Total | Total | ||
| costs | costs | 31.10.24 | 31.10.23 | |||
| £ | £ | £ | £ | £ | £ | |
| Commercial | 403,547 | 203,077 | 897,468 | 1,504,092 |
1,981,007 | |
| activity | ||||||
| Agricultural | 418,043 | 375,181 | 191,778 | 2,330,128 | 3,315,130 |
3,069,523 |
| shows | ||||||
| Other charitable | 50,191 | 17,320 | 34,780 | 102,291 |
112,497 | |
| activity support costs | ||||||
| Centralised | 139,936 | 145,903 | 82,448 | 16,417 | 384,704 |
342,186 |
| costs | ||||||
| Other funds | ||||||
| Investment | 6,165 | 6,165 |
||||
| Expenditure | ||||||
| 1,011,717 | 521,084 | 494,623 | 3,284,958 | 5,312,382 |
5,505,213 | |
| EMPLOYEE COSTS | ||||||
| Staff costs | 31.10.24 | 31.10.23 | ||||
| £ | £ | |||||
| Wages and salaries | 798,259 | 745,810 | ||||
| Social security costs | 87,393 | 69,140 | ||||
| Other pension costs | 90,576 | 78,442 | ||||
| Total payroll costs | 976,228 | 893,392 | ||||
| Contract labour and other staff costs | 35,489 | 25,619 | ||||
| Total employment costs | 1,011,717 | 919,011 | ||||
| The average numberofemployees during the year were: | ||||||
| 31.10.24 | 31.10.23 | |||||
| Monthly paid | 16 | 15 | ||||
| Weekly paid | 7 | 6 | ||||
| 23 | 21 | |||||
| The numberofemployees who received total employee benefits (including employers NIC and excluding | ||||||
| employer pension costs)ofmore than | £60,000isasfollows: | |||||
| 31.10.24 | 31.10.23 | |||||
| £60,001 - £70,000 | 1 | |||||
| £70,001 - £80,000 | 1 | 1 | ||||
| £80,001 - £90,000 | 1 | |||||
| £90,001 - £100,000 | 1 | |||||
| £100,000 - £110,000 | ||||||
| 3 | 2 |
| ET INCOME FOR THE YEAR | ||
|---|---|---|
| Net income is stated after charging/(crediting): | 31.10.24 | 31.10.23 |
| £ | £ | |
| Fees payabletothe group's Auditor for the auditofthe financial statements | 25,350 | 24,150 |
| Fees payabletothe group's Auditor for other services | 1,655 | 1,575 |
| Depreciation - owned assets | 520,836 | 509,508 |
| Group and Society | |
|---|---|
| Trademarks | |
| COST | £ |
| At 31st October 2023 and 31st October 2024 | 2,475 |
| AMORTISATION | |
| At 31st October 2023 | 2,108 |
| Charge for Year | 247 |
| At 31st October 2024 | 2,355 |
| NETBOOKVALUE | |
| At 31st October 2024 | 120 |
| At 31st October 2023 | 367 |
| Group | |||||
|---|---|---|---|---|---|
| Improvements | Land and | Buildings | Plant, | Total | |
| toland held | buildings | vehicles | |||
| under lease | held for | and | |||
| development | equipment | ||||
| COST | £ | £ | £ | £ | £ |
| At 1November2023 | 3,871,331 | 8,427,376 | 8,124,797 | 1,463,121 | 21,886,625 |
| Additions | 63,900 | 4,564 | 203,418 | 271,882 | |
| Disposals | (627,376) | (38,000) | (665,376) | ||
| At31October 2024 | 3,935,231 | 7,800,000 | 8,129,361 | 1,628,539 | 21,493,131 |
| DEPRECIATION | |||||
| At 1November2023 | 1,014,412 | 1,844,518 | 954,689 | 3,813,619 | |
| Charge for Year | 138,539 | 267,234 | 115,063 | 520,836 | |
| Disposals | (38,000) | (38,000) | |||
| At31October 2024 | 1,152,951 | 2,111,752 | 1,031,752 | 4,296,455 | |
| NETBOOK | |||||
| VALUE | |||||
| At31October 2024 | 2,782,280 | 7,800,000 | 6,017,609 | 596,787 | 17,196,676 |
| At31October 2023 | 2,856,919 | 8,427,376 | 6,280,279 | 508,432 | 18,073,006 |
| Analysisofcost or | |||||
| valuation | |||||
| £ | £ | £ | £ | £ | |
| Cost | 3,935,231 | 1,480,355 | 8,129,361 | 1,628,539 | 15,173,486 |
| Valuation | 6,319,645 | 6,319,645 | |||
| 3,935,231 | 7,800,000 | 8,129,361 | 1,628,539 | 21,493,131 |
| 31.10.24 | 31.10.23 |
|---|---|
| £ | £ |
| 7,992,583 | 6,905,528 |
| Society | ||||
|---|---|---|---|---|
| Improvements to | Buildings | Plant, | Total | |
| land held under | vehicles and | |||
| licence | equipment | |||
| COST | £ | £ | £ | £ |
| At I November2023 | 3,871,331 | 8,124,797 | 1,463,121 | 13,459,249 |
| Additions | 63,900 | 4,564 | 203,418 | 271,882 |
| Disposals | (38,000) | (38,000) | ||
| At31October 2024 | 3,935,231 | 8,129,361 | 1,628,539 | 13,693,131 |
| DEPRECIATION | ||||
| At I November 2023 | 1,014,412 | 1,844,518 | 954,689 | 3,813,619 |
| Chargefor Year | 138,539 | 267,234 | 115,063 | 520,836 |
| EliminatedonDisposal | (38,000) | (38,000) | ||
| At31October 2024 | 1,152,951 | 2,111,752 | 1,031,752 | 4,296,455 |
| NETBOOKVALUE | ||||
| At31October 2024 | 2,782,280 | 6,017,609 | 596,787 | 9,396,676 |
| At31October 2023 | 2,856,919 | 6,280,279 | 508,432 | 9,645,630 |
| Society | |
|---|---|
| Shares in | |
| group | |
| undertakings | |
| COST | £ |
| At 31st October 2023 and 31st October 2024 | 23,850,000 |
| NET BOOK VALUE | |
| At 31st October 2024 | 23,850,000 |
| At 31st October 2023 | 23,850,000 |
atureofbusiness: Managementofland held for d |
evelopment |
|---|---|
| % holding | |
| Classofshares: Ordinary | 100.00 |
atureofbusiness: Management ofland held for d |
evelopment |
|---|---|
| %holding | |
| Classofshares: Ordinary | 100.00 |
| Value | Additions | Disposals | Movement | Change in | Value | |
|---|---|---|---|---|---|---|
| brought | in cash | market | carried | |||
| forward | value | forward | ||||
| £ | £ | £ | £ | £ | £ | |
| Quoted | 6,771,395 | 4,875,405 | (1,633,453) | 994,951 | 11,008,298 | |
| Investments | ||||||
| Cash heldby | 3,175,948 | (3,052,873) | 123,075 | |||
| investment | ||||||
| brokers | ||||||
| 9,947,343 | 4,875,405 | (1,633,453) | (3,052,873) | 994,951 | 11,131,373 |
| DEBTORS | ||||
|---|---|---|---|---|
| Group | Society | |||
| 31.10.24 | 31.10.23 | 31.10.24 | 31.10.23 | |
| £ | £ | £ | £ | |
| Trade debtors | 318,002 | 302,424 | 217,145 | 192,580 |
| Amounts owed from group undertakings Other debtors |
132,976 | 94,169 | 986,142 39,059 |
1,217,358 355 |
| Prepayments Accrued Income |
33,949 71 |
85,645 967 |
31,021 | 82,647 |
| 484,998 | 483,205 | 1,273,367 | 1,492,940 |
| CREDITORS: amounts falling due within o | ne year | |||
|---|---|---|---|---|
| Group | Society | |||
| 31.10.24 | 31.10.23 | 31.10.24 | 31.10.23 | |
| £ | £ | £ | £ | |
| Trade creditors | 49,506 | 130,989 | 35,118 | 117,380 |
| Amounts owedtogroup undertakings Other tax and social security Other creditors and accruals |
133,381 152,984 |
91,138 188,722 |
14,417,087 52,006 136,896 |
14,073,334 23,333 166,773 |
| Payments received in advance | 517,184 853,055 |
426,318 837,167 |
454!481 15,095,588 |
356,167 14,736,987 |
| Group and Society | |
|---|---|
| Life | |
| Members | |
| Composition | |
| Account | |
| £ | |
| At 1st November 2024 | 34,153 |
| Receipts in year Interest credited |
9,803 582 |
| Utilised in year | (6,330) |
| At 31st October 2024 | 38,208 |
| Group | Unrestricted funds |
Restricted funds |
Total funds 31.10.24 |
|---|---|---|---|
| £ | £ | £ | |
| Intangible fixed assets Investments |
120 11,131,373 |
120 11,131,373 |
|
| Tangible fixed assets Net current assets |
17,196,676 . 3,688,285 |
15,719 | 17,196,676 3,704,004 |
| Deferred income | (38,208} | (38,208} | |
| 31,978,246 | 15,719 | 31,993,965 | |
| UNRESTRICTED FUNDS | |||
| Group and Society | General | ||
| funds | |||
| £ | |||
| At 1st November 2023 | 30,533,592 | ||
| Net movement in funds | 1,444,654 | ||
| At31st October 2024 | 31,978,246 |
| Group and Society | Movement in funds | Movement in funds | ||
|---|---|---|---|---|
| 1.11.23 | Incoming | Outgoing | 31.10.24 | |
| £ | £ | £ | £ | |
| W Fullerton Legacy John Kirkpatrick Legacy |
10,000 5,631 |
200 113 |
(200) (25) |
10,000 5,719 |
| 15,631 | 313 | (225) | 15,719 |
| FINANCIAL INSTRUMENTS | ||
|---|---|---|
| Group | ||
| 31.10.24 | 31.10.23 | |
| £ | £ | |
| Financial assets | ||
| Financial assets that are debt instruments measured at amortised cost | 4,529,510 | 3,179,006 |
| 4,529,510 | 3,179,006 | |
| Financial liabilities | ||
| Financial liabilities measured at amortised cost | 49,506 | 130,989 |
| 49,506 | 130,989 |