|||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**||
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|||**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|
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|**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|
##
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##
||**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|
##
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##
|**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**|
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|**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**|
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|**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**|
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|**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|
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