Company Registration Number N1051720 Charity Reglstration Number NIC103252 County Fermanagh Farmlng Society Limited (Charitable Company Limited by Guarantee) Annual Report & Unaudlted Financlal Statements For the Year Ended 31 December 2024
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Contents Page Company Infomiation Dlrectors. Report Independent Examlnerfs Report Statement of Flnanclal Actlvltles Statement of Financial Position 9-10 Notes to the Financial Statements 11-17
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Company Information Board of dlrectors Ruth L Armstrong (appointed 6 Feb 2025) T O Marcus Barton (appointed 6 Feb 2025) Harry Boles (appointed 6 Feb 2025) W Brian Donaldson (appointed 6 Feb 2025) John James Gunn (resigned 6 Feb 2025) Lord Anthony Hamllton E Marlon Henderson (reslgned 6 Feb 2025) J Adrlan T Irvine J Albert G Knox (appolnted 6 Feb 2025) Alan J Morrlson (appointed 6 Feb 2025) Edward K Rogers Company secretary Ann Orr Reglstered offlce Exhlbltlon and Auctlon Centre Old Tempo Road Ennlsklllen Co. Fermanagh BT74 4BA Company number N1051720 Charlty number NIC103252 Independent Examlners Cooper Pary Audlt (Ireland) Llmlted Chartered Accou ntants 36-38 Northland Row Dungannon Co Tyrone BT71 6AP Bankers Ulster Bank 16 Darling Street Enniskillen Co. Fermanagh BT74 7ER
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Directors, Report for the year ended 31 December 2024 The Directors, who are the trustees for the purpose of charity law, have pleasure in presenting their report and the unaudited financial statements of the charitable company for the year ended 31 December 2024. The financial statements have been ppared in accordance with the Statement of Recommended Pract1 "Accountlng and Reportlng by Charltles" (FRS 102) and the Companles Act 2006. Reference and Admlnlstratlon Detalls The reference and administratlon detalls of the charlty are as shown on page 2. Objectlves and Actlvltles The objects of the charitable company shall be to: advance, promote and improve agriculture In all Its branches and In allled home Industrles, In partlcular by the holdlng of an annual show or shows, exhibitions and demonstratlons of equipment and technlques; promote the beneflts of the Inhabltants In Fermanagh and Its envlrons (the area of beneflt) through the advancement of educatlon, In part5cular by promotlng a knowledge and understandlng of rural affalrs, rural development and envlronmental Issues and an Interest In the agrlcultural Industry In general, and the provlslon of facllStles In the Interest of soclal welfare for recreatlon and other lelsure tlme occupatlons wlth the object of Improvlng the conditions of Ilfe of the sald Inhabltants. and advance and encourage the protectlon and safeguardlng of the envlronment. Publlc Beneflt statement The dlrectors of County Fermanagh Familng Soclety Llmlted conflrm that they have complled wlth their duty under sectlon 4{6) of the Charltles Act (Northern Ireland) 2008 to have regard to the Charlty Commlsslon for Northern Ireland's guldance on publlc benefit and that the publlc benefit requlrement has Informed the actlvStles of the charltable company In the year ended 31 December 2024. Achlevements and Performance The annual Fermanagh County Show dld not take place durlng 2024 or 2025 due to logistical problems obtalnlng a sultable slte. The annual show Is the charity's maln source of income and the directors are reviewing the situation to secure a slte for future county shows. The dlrectors are confident that the charity contlnues to meet Its perf0rrnan objectives to benefit the local communlty. Durlng 2024 and 2025, an exhlbltlon of chlldren's work and crafts was held In the CAFRE College Enniskillen, and the judging of cattle and sheep took place on the competitors, premises. Flnanclal revlew Flnanclal Performance Durlng the year ended 31 December 2024, the charlty had net outgolng resources of £20,017 (2023: net outgoing resources £5,680). Reserves Policy As a charity, the company is heavlly dependent on the Income generated by the Fermanagh County Show. The board conslders It necessary to malntaln at least £90,000 of reserves to enable the company to continue to operate should there be any unexpected fall in incoming resources.
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Directors. Report for the year ended 31 December 2024 (continued) Risk management The directors have examlned the major strategic, buslness and operatlonal rlsks whlch the charlty faces and they confirm that systems have been established to enable regular reports to be prOdUd so that the necessary steps can be taken to manage these risks. Structure. Governance and Management. Oryanlsatlonal Structure The charitable company Is a company Ilmited by guarantee, not havlng a share capital. The charitable company was established under a Memorandum of Assoclation whlch established the objects and powers of the company and is governed under its Articles of Assoclatlon. In accordance wlth the Artlcles of Assoclatlon, the members to retlre by rotatlon shall be those who have been longest In office since thelr last electlon, and the relevant motlon wlll be put at the Annual General Meetlng. A retlrlng member shall be ellglble for re- elertlon. Dlrertors The directors who have serrfed durlng the year are the same as those Ilsted on page 2 Taxatlon Status The company Is recognlsed as a charlty by HM Revenue & Customs. Accordlngly, the company has avalled of the exemptlons contained in Chapter 3 Part Il Corporation Taxes Act 2010 and Section 256 Taxatlon of Chargeable Gains Act 1992. Dlrectors. responslbllltles The dlrectors are responslble for preparlng the flnanclal staternents In accordance wlth applicable law and Unlted Klngdom Accountlng Standards (United Klngdom Generally Accepted Accountlng Practlce). Company law requires the dlrectors to prepare flnanclal statements for each flnanclal year which glve a true and fair vlew of the state of the affalrs of the charltable company and of the Incoming resources and appllcatlon of resOurs, includlng the income and expenditure, of the charltable company for that year. In preparing these financial statements the Directors are required to: select sultable accountlng pollcles and apply them conslstentlyi obseNe the methods and prlnclples In the Charltles SORP (FRS 102). make Judgements and estlmates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any materlal departures dlsclosed and explained In the financlal statements. and prepare the financlal statements on the golng concern basis unless It Is Inapproprlate to presume that the charitable company wlll continue in operation.
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Directors, report for the year ended 31 December 2024 (continued) The directors are responsible for keeplng adequate accountlng records that disclose with reasonable accuracy at any time the flnanclal posltlon of the charltable company and enable them to ensure that the financial statements comply wlth the Companles Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detectlon of fraud and other Irregularltles. Small Companies Exemptlon The above report has been prepared In accordance wlth the speclal provlslons lating to small companies wlthln Part 15 of the Companies Act 2006. This report was approved by the board and slgned on Its behalf by: Sec Date:
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Independent Examiner's Report to the members on the unaudited financial statements of County Fermanagh Farming Society Limited for the year ended 31 December 2024 We report on the flnanclal statements of the company for the year ended 31 December 2024 which are set out on pages 8 to 17. Respectlve Responslbllltles of Dlrectors and Independent Examlner As the charitable company's dlrertors, who are the trustees for the purpose of charlty law, you are responslble for the preparation of the financlal statements in accordance wlth the requirements of the Companies Act 2006. Having satlsfied ourselves that the charitable company Is not subject to audit under company law, and is ellgible for Independent examlnatlon, It is our responslbllity to: examlne the accounts under sectlon 65 of the Charltles Act (Northem Ireland) 2008; follow the procedures lald down In the general Dlrectlons glven by the Charlty CommlssSon for Northern Ireland under section 65(9)(b) of the Charltles Act (Northern Ireland) 2008. and state whether particular matters have come to our attentlon. Basls of Independent Examlner's Report We have examlned your charltable company's financlal statements as required under section 65 of the Charltles Act (Northern Ireland) 2008 and our examinatlon was carrled out In accordance with the general dlrections glven by the Charlty Commlssion for Northern Ireland under section 65(9)(b) of the Charitles Act (Northern Ireland) 2008. The examlnatlon Included a revlew of the accountlng records kept by the charltable company and a comparlson of the accounts presented wlth those records. It also Includes conslderatlon of any unusual Items or dlsclosures In the accounts and seeklng explanatlons from you as charltable company Dlrettors concemlng any such matters. Our role Is to state whether any materlal matters have come to our attention glvlng us cause to believe: That accountlng records were not kept In accordance wlth sectlon 386 of the Companies Act 2006; or That the accounts do not accord with those accounting records. or That the accounts do not comply wlth the accounting requirements of sectlon 396 of the Companles Act 2006 and with the methods and prlnciples of the Charltles Statement of Recommended Practitr appllcable to charltles preparing thelr accounts In accordance wlth the Financlal Reportlng Standard applicable In the UK and Republlc of Ireland; or That there Is further information needed for a proper understandlng of the accounts to be reached.
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Independent Examlner's Report to the members on the unaudited financial statements of County Fermanagh Farming Society Limited for the year ended 31 December 2024 (Continued) Independent Examlnerfs Statement We have completed our examinatlon and have no concerns In respect of the matters Ilsted above and, In connection with followlng the directions of the Charlty Commission for Northern Ireland, we have found no matters that requlre drawing to your attentlon. Cooper Parry Audlt (Ireland) Limlted Chartered Accountants 36-38 Northland Row Dungannon Co. Tyrone BT7 16AP Date: 1110912025
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Statement of Flnanclal Activities (including an Income and Expenditure Account) For the year ended 31 December 2024 Note UnrestrSctsd Funds 2024 Restricted Fund$ 2024 Total Total 2024 2023 Income and Endowments from: Charitable actlvltles Total 10,188 10,188 10,188 10,188 90,207 90,207 Expendlture on: Charitable Activitles 600 (19,715) (600) (20,315) (5,598) Interest payable and slmllar charges (162) (162) (461) Interest recelvable and slmllar Income 460 460 379 Net movement In funds (19,417) (600) (20,017) (5,680) Transfer between funds Total fijnds brought forward at I lanuary 238,272 28,200 266,472 272,152 Total funds ¢•rrled forward at 31 December 218,855 27,600 246.455 266.472 The above Statement of Flnanclal Actlvltles includes all Informatlon as requlred to be disclosed by the Companles Act 2006. All of the actlvltles of the company are classed as contlnulng. There Is no dlfference between the net Incomlng resources for the year ststed above and thelr hlstorlcal cost equlvalents. The notes on pages 11 to 17 form part of the flnanclal statements.
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Statement of Financial Position (Balance Sheet) As at 31 December 2024 Note 2024 2023 Non-current Assets Property, Plant and equlpment 183,182 184,143 Current Agsets Receivables Cash at bank on deposlt Cash at bank and in hand io li 6,000 32.178 31,718 67,128 85,421 Payables: Amounts falllng due wlthln one year 12 Net Current Assets Total assets leM current Ilabllltles 246,455 266,472 Provlslon• for Ilabllltles Net Asset• 13 246 455 266 472 Represented by: Unrestrjcted Funds Restrlcted Funds 14 218,855 238,272 246 455 266 472 The dlrectors, statements on the followlng page forms part of the Statement of Flnancial Posltion. The notes on pages 11 - 17 form part of the financlal statements.
County Fermanagh Farmlng Soclety Llmited (Charitable Company Limited by Guarantee) ststement of Flnanclal Posltlon as at 31 December 2024 (continued) These flnanclal statements have been prepared In accordance wlth the provlslons appllcable to small companles reglme wlthln Part 15 of the Companles Act 2006. For the flnanclal year ended 31 December 2024 the company was entltled to exemptlon from audit under sertlon 477 of the Companles Act 2006. The dlrectors conflrm that the members have not requlred the company to obtain an audlt of Its flnanclal statements for the year In questlon In accordance wlth sertlon 476 of the Companies Act 2006. The dlrectors acknowledge thelr responslbllltles for ensurlng that the charltable company keeps accountlng records whlch comply wlth Sectlon 386. and for preparlng flnanclal statements whlch glve a true and falr vlew of the state of affalrs of the charltable company as at the end of the flnanclal year and of Its Incomlng or outgolng resources for the flnanclal year In accordance wlth the requlrements of sectlons 394 and 395 and whlch otherwlse comply wlth the requlrements of the Companies Act 2006 relatlng to flnanclal statements, so far as appllcable to the charltable company. The notes on pages 11 to 17 form an Integral part of the flnanclal statements. The flnanclal statements were approved and authorlsed for Issue by the Board of Dlrectors and slgned on thelr behalf by: Lord Ant Dlr•cto amllton rfan T Irvln• ctor Dat•: Company Reglstratlon Number: N1051720 Charlty Reglstratlon Number: NIC103252 io
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Notes to the Flnancial Statements For the year ended 31 December 2024 l. General Information County Fermanagh Farmlng Soclety Llmlted Is a charltable company Ilmlted by guarantee incorporated in Northern Ireland. In the event of the charltable company belng wound up, the liability In respect of the guarantee is Ilmited to £1 per member of the charitable company. The address of the reglstered offlce Is as shown on page 2. The charltable company constitutes a public beneflt entity as deflned by FRS 102. 2. Accountlng pollcies The followlng accountlng policles have been applied consistently In deallng wlth Items which are consldered material in relation to the company's financlal statements. 2.1 statement of Compllance The flnanclal statements have been prepared In accordance wlth Accountlng and Reportlng by Charites: Statement of Recommended PrattSce (SORP) appllcable to charities preparing thelr flnanclal statements In accordance with the Financial Reporting Standard appllcable In the UK and Republlc of Ireland (FRS 102) effectlve l January 2023 (Second Edltlon), the Flnanclal Reportlng Standard applicable in the Unlted KSngdom and RepublSc of Ireland (FRS 102) and the Companies Act 2006. 2.2 8asl$ of Preparatlon The flnanclal statements are prepared on a golng concern basls under the historical cost conventlon unless otherwlse stated In the relevant accountlng pollcy. Hlstorlcal cost Is generally based on the falr value of the conslderatlon glven In exchange for assets. Cash Flow Statement The charltable company has applled Update Bulletln 2 as publlshed on 5 October 2018 (effective l January 2023) and does not include a cash flow statement on the grounds that It Is applylng FRS 102 Section IA. 2.4 Income and Endowments (l) Donatlons. Legacies and Other Tradlng Actlvltles Donatlon and legacy Income Includlng Incoming resources from glfts, donatlons and grants Is recognlsed In full In the Statement of Financlal Activitles when receivable. other tradlng actlvltles are commercial activities which are recognlsed as earned when the related goods and ServIS are provlded. li
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Notes to the Flnancial Statements For the year ended 31 December 2024 (continued) (11) Income from Charltable Activities Incorne from charitable actlvltles includes income recelved under contract or where entitlement to grant funding is subject to specific performance condltlons. It is recognised as earned as the related servlces or goods are provided. Grant Income included In thls category provides fundlng to support projects and Is recognlsed where there Is entitlement, certalnty of recelpt and the amount can be measured wlth sufficient rellablllty. 2.5 Expendlture Expenditure Is recognlsed when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods and servlces are supplled. Where costs cannot be dlrertly attrlbuted to a partlcular heading they have been allocated to actlvities on a basis conslstent wlth use of resources. Staff costs and overhead expenses are allocated to actlvltles on the basls of staff tlme spent on those actlvltles. (E) Charltable Actlvltles This comprlses all the resources applled by the charltable company In undertaklng Its work to meet Its charltable obJectlves. Charitable actlvities wlll Include the costs of governance arrangements which relate to the general runnlng of the charltable company. Property. Plant and Equlpment and Depreclatlon Propertyi plant and equipment are inltially recorded at cost. Depreclatlon Is calculated to wrlte off the orlglnal cost less the estlmated resldual value of flxed assets over thelr expected useful Ilves. Freehold Showgrou nd Showground Development Flxtures & Equlpment No depreciatlon 20/0 Straight Llne 10 % Reduclng Balance Fund accountlng The charlty had two types of funds for whlch It Is responsible at the year end: (i) Unrestrfcted funds These are funds which are expendable at the dlscretion of the dlrectors In furtheran of the objects of the charlty. In addltlons, funds may be held In order to flnance capltal Investment and worklng capltal. (11) Restrlcted funds Income received for speclflc purposes. Such purposes are wlthin the overall aims of the charlty. Taxatlon The company has charitable status and is therefore not liable to Corporatlon Tax. 12
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Notes to the Financlal Statements For the Year Ended 31 December 2024 (contlnued) Trade and other payables Trade and other payables are Inltially recognlsed at falr value and thereafter stated at cost. 2.10 Crltlcal accountlng estlmates and Judgements In the appllcatlon of the Charlty's accounting policies, the Trustees are requlred to make judgements, estlmates and assumptlons about the carrylng value of assets and Ilabllltles that are not readily apparent from other sources. The estlmates and assoclated assumptions a based on hlstorical experience and other factors that are considered to be relevant. Actual results may dlffer from these estimates. The estlmates and underlylng assumptlons are reviewed on an ongolng basls. Revisions to accountlng estlmates are recognlsed In the perlod In whlch the estlmate Is revlsed were the revlslon affects only that perlod, or In the perlod of the revlslon and future perlods were the revlslon affects both current and future perlods. Criticaljudgements in applying the entity s accounting policies There are no critical Judgements in applylng the company's accountlng policies. crftlcal accounting estimates and assumptions There are no accountlng estimates In applylng the company's accountlng pollcles. 2.11 Cash & Cash Equlvalents Cash Is represented by cash In hand and deposlts wlth flnanclal Instltutlons repayable wlthout penalty on notlce of not more than 24 hours. Cash equlvalents are hlghly Ilquld Investments that mature In no more than three months from the date of acqulsltlon and that are readily convertlble to known amounts of cash wlth Inslgnlficant risk of change In value. 13
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Notes to the Financlal Statements For the Year Ended 31 December 2024 (continued) Income and Endowments Charltable activities Unrestricted Funds 2024 Restrlcted Funds 2024 Totsl Total 2024 2023 Subscriptions and donations Entry fees Admission charges Trade stands & advertlslng Mlscellaneous sponsorshlps Vaughan Trust Rent 5,070 462 647 5.070 462 647 240 1,117 45,235 19.315 21,025 2,775 500 3,009 500 500 3,009 500 500 Total Income from Charltable Actlvltles 10,188 10.188 90,207 Incorne for the year ended 31 December 2023 comprlsed: unrestrlcted £90,207 and restrlcted £nll. 14
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 December 2024 (continued) Resources Expended Charltable Actlvities Unrestricted Funds 2024 Restrlcted Funds 2024 Total Total 2024 2023 Prizes offi expenses Advertising & promotlonal Rent Heat, Ilght and power Telephone & broadband County Show staging costs Security, health & safety Trophles and engraving Hospltallty & entertalnment Secretarlal & admlnlstratlon salarles Accountancy Insuran Conference and afflllatlon fees Mlscellaneous expenses Depreclatlon 2,191 299 206 3,333 77 1,649 204 2,191 299 206 3,333 77 1,649 204 21,918 2,406 11,164 5,050 350 1,693 21,748 1,000 2.317 7,323 9,554 1,800 1,921 254 1,203 6,104 120 850 11,125 1,890 2,388 loo 171 5,300 120 850 11,125 1,890 2,388 loo 171 5,900 600 Total Resources Expended 600 Expendlture for the year ended 31 December 2023 comprlsed: unrestricted £95,205 and restricted £600. Net Income / (expendlture) for the year Net Income / (expenditu) Is stated after charglng: 2024 2023 Depreclatlon of propertyi plant and equlpment Independent examlner's remuneratlon 5,900 1,890 6,104 1,800 Independent Examlnerfs Remuneratlon The Independent examlnerfs remuneratlon amounts to an independent examlnatlon fee of £1,890 (2023: £1,800) and other accountants, fees of £- (2023: £-). 15
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Notes to the Flnancial Statements For the Year Ended 31 December 2024 (continued) Directors Emoluments The dlrectors received no emoluments during the period. Liablllty of members The organisatlon Is a company Incorporated under guarantee and does not have share capital. The Ilablllty of each member is Ilmited to an amount not exceedlng £1. Propertyi plant and equlpment Freehold Showground Showground Development Flxturns & Equlpment Total Cost At i¥t Jan 2024 70,000 148,092 Additions 61,941 280,033 At 31* Dec 2024 150 655 284 972 Depreclatlon At i¥t Jan 2024 Charge for year At 315t Dec 2024 62,227 33,663 95,890 101 790 Net Book Value• At 31rt Dec 2024 183 182 At 31£t Dec 2023 184 143 io. Receivables 2024 2023 Accrued Income - sponsorshlps and donatlons 6,000 6,000 16
County Fermanagh Farming Society Limited (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 December 2024 (continued) 11. Cash at bank on deposit 2024 2023 Ulster Bank Llmited Buslness Reserrfe 32,178 31,718 32,178 31,718 12. Payables: Amount falllng due wlthln one year 2024 2023 Trade and other credltors Accrued Expenditure Credlt card 3,853 3,003 89 13. Analysls of Net Assets Unrestrlcted Funds 2024 Re8trlcted Funds 2024 Total 2024 Total 2023 Tanglble flxed assets Current Assets Current Liabllltles 155,582 67,128 (3,855) 218,855 27,600 183,182 67,128 (3,855) 246,455 184,143 85,421 (3,092) 266,472 27,600 14. Analysls of funds Unrestrlcted Funds 2024 Restrlcted Funds 2024 Total 2024 Total 2023 Openlng as at l January Surplus / (deflclt) for the year Transfer between funds 238,272 (19,417) 28,200 (600) 266,472 (20,017) 272,152 (5,680) Closlng as at 31 December 218 855 246 455 266 472 15. Contlngent Liabilities A contingent liabillty exlsts to repay grants received should certaln conditlons not be fulfllled by the company. 17