Armagh County Agricultural Show Society (Northern Ireland Charity Commission Number: 103787) (Company Registration Number: N1046942) Report of the Trustees and Financial Statements for the year ended 31 December 2023 Noel Conn & Company Chartered Accountants
Armagh County Agricultural Show Society Accounts for the year ended 31 December 2023 Contents Page Trustees and Other Information..... Report of the Trustees...... Statement of Trustees, Responsibilities. Report of the Independent Examiners............ Statement of Financial Activities....... staternent of Financial Position............ Notes to the Financial Statements......... .10
Armagh County Agricultural Show Society Trustees and Other Information Trustees Mr S N Morton Mr A W Mcconnell MrWGSParr Mr S J Hamilton Mr G A Mccall Mr E W Crozier Secretary Mrs F E Wcall ContaGt Details Units3&4 Armagh Business Centre 2 Loughgall Road Amiagh BT617NH Telephone: 028 37522333 Email: info@amaghshow.com Independent Examiner Noel Conn & Company 7 Seven Houses Upper English Street Amagh BT617LA Bankers Bank of Ireland 11 Upper English Slreet Armagh BT617BH Charity Commission Nl Number 104972 Company Registration Number N1046942
Armagh County Agricultural Show Society Trustees report for the year ended 31 December 2023 The Trustees, who are also directors for the purposes of company law, present their report along with the financial statements of the charily for the year ended 31 December 2023. The financial statements have been prepared in accordance with the acGounling policies set out on page 10. Constitution Armagh County Agricultural Show Society is an incorporated body and is a recognised charity by HM Revenue and Customs. Armagh County Agricultural Show Society was registered as a charity by the Charity Comtnission Northern Ireland on 14 June 2003 under number104972. Organisation The Trustees who have seNed during the year are detailed out on pa3e 3. Who are Arniagh County Agricultural Show Society The Show Committee has the power to have and exercise general superwsion and control over the affairs of the Society. The property, funds and securities of the Society are vested in Committee to be utilised in the purpose of fulfilling the charitable objectives of the Society. The Society's charitable objectives are: The promotion of agriculture in Northern Ireland by holding an annual agricultural show, and by delivering agricultural instruction through exhibitions. lectures, and other such means as may from time to lime be found expedienl. The promotion of industries, art, sciences. and literature. These have always been treated as minor in relation to the main objective of promoting agriculture. The Society seeks to achieve its objectives through.. The delivery of the annual agricultural show which seeks to'.- Contribute to the enhancemenl of public awareness and understanding of the Province's agri-food sector. Promote good farming practices and development of the skills and crafts needed to enhance the sector. Encourage the advancement of breeding and rearing of livestock (including horses and poultry}. Presentation of awards to those engaged in agriculture. Working in partnership with other bodies to assist in the promolion of the sector. The promotion of the arts through maintaining facililies and services to enable the venue to cost a range of cultural events. Furthermore, the Society is engaged in: Making its facilities and resources available for utilisation by other charitable bodies. The Strategy of the Society is as follows.. Ensure the objective as detailed are delivered. Ensure that the assets, investments, and funds ofthe Society a prudently managed. Utilise the assets, investments, and funds of the Society to put in place sustainable enabling finance streams.
Armagh County Agricultural Show Society statement of Public Benefit The Trustees believe that both our purposes and the activities undertaken in this last financial year cleady satisfy elements of the public benefit requirement. The committee considers that these objectives, aclivities, and goals have a clear public benefit in enhancing the social, economic, and cultural well-bring of rural communities. The public benefits include.. Improving standards of livestock and agricultural practices wthin the agricultural sector in Northern Ireland in particular, and beyond. Preserving and maintaining high standards and skill levels wthin the agricultural sector in Northem Ireland, and beyond. Developing and preserving rural crafts and craftsmanship necessary to enhance the agricultural sector in the Province. Ensuring that rural tradib'ons and skills are passed down through successive generations of the agricultural community. Improving the welfare of agricultural animals through the recognition of high standards of agricultural husbandry throughout the Province and beyond. Enhancing the general public's knowledge and understanding of the Province's agri-food sector. Achievements and Performance Armagh County Show is one of the longest-running shows in Ireland with a report of a show being held in the Cily of Amiagh as far back as 1829. The agriculture, local food, and rural life elements of our Show continue to be the driving force behind our organisation. However, we make sure every effort is made to cater for all tastes and interests of the thousands of visitors that attend the event each year and the programme is constantly updated to reflect and respond to those interests. Financial Review During the year ended 31 December 2023, the charity received total income of £161,249 and had totsl expenditure of £126,108, yielding a surplus of £35,141. Movements in tangible assets during the year are shown in the Notes to the Financial Statements. Risk Management The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be prixluced so thal the necessary steps can be taken to reduce these risks. By order of the Trustees 1214124 Trustee Date
Armagh County Agricultural Show Society statement of Trustees, Responsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the Financial Statements in accordance with the applicable law and United Kingdom Accounting Standards. The law applicable to charities in Northem Ireland requires the trustees to prepare financial statements for each financial year. Under that law the trustees have prepared the financial statements in accordance with Generally Accepted Accounting Practice in the United Kingdom {accounting standards issued by the Financial Reporting Council in the UK, including Charities SORP (FRS 102). Accounting and Reporting by Chartties.. Ststements of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102) and promulgated by the Institute of Chartered Accountants in the United Kingdom and United Kingdom Law). Under that law the trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charity and of the statement of financial activities of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply the consistently. observe the methods and principles in the Charities SORP., make judgements and estimates that a reasonable and prudent; state whether the application of accounting standards have been followed, subject to any material departures disclosed and explained the Financial Statements. prepare the Financial Statements on the going concem basis unless it is inappropriate to presume thaf the chanty will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act (Northem Ireland) 2008 and the Charity (Accounts and Reports} Regulations (Northern Ireland) 2008. They are also resFx)nsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The tn]stees are responsible for the maintenance and integrity of the corwrate and financial information included on the charity's website. Legislation in Ihe United Kingdom goveming the preparation and dissemination of financial statements may differ from legislation in otherjurisdictions. statement as to disclosure to our independent examiner In so far as the trustees are aware at the timing of approving our trustees, annual report.. there is no relevant information of which the charitable company s independent examiner is unaware,. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant infomation and to establish that the company's independent examiner is aware of that information. Independent Examiner A resolution to re-appoint the independent examiner, Noel Conn & Company, will be proposed at the annual general meeting. By order ofthe Trustees 12 Trustee Date
Armagh County Agricultural Show Society Independent Examiner's report for the year ended 31 December 2023 We have examined the financial statements ol Amagh County Agricultural Show Society as set out on pages 10 -13 for the year ended 31 December 2023, which comprise of the Statement of Financial Activities, The Balance Sheet, and the related notes. This report is made solely to the Charity Trustees, as a tK)dy, in acCOjan with regulations made under the Charities Act (Northern Ireland) 2008. Our examination work has been undertaken so that we might slate to the Charity's Trustees those matters we are required to state to them in an independent examinerfs report and for no other purpose. To the fullest extent petmitted by law, we do not acp1 or assume responsibility to anyone other than the Charity and the charity's Trustees as a body, forourexaminats'on work, for this report, or lor the opinions we have formed. Responsibilities of the Armagh County Agricultural Show Society Trustees and Examiner It is our responsibility to.. examine the accounts under section 65 of the Charities Act. to follow the procedures laid down in the general directions given by the Commission under section 65(9)Ib) of the Charities Act., and to state whether particular matters have come to our attention. Basis of the independent examinerfs report: We have examined the charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordance with the general direcb'ons given by the Charity Commission for Northern Ireland under section 65(91{bl of the Charilies Act. Our examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees conceming any such matters. Our role is to state whether any material matters have come to our attention giving us cause to believe: 1. That accounting records were not kept in accordance with section 63 of the Charities Act. 2. That the accounts do not accord with those accounting records. 3. That the accounts do not comply with the accounting requirements of the Charities Act. 4. That there is further InfonatiOn needed for a proper understsnding of the accounts to be reached. Independent examiner's statement: We have completed our examination and have no cOnmS in respect of the matters11) to (41 listed above and, in connection with following the directions of the Charity Commission for Northem Ireland, we have found no matters that require drawing to your attention. Ji Noel Conn For and on behalf of Noel Conn & Company 7 Seven Houses Upper English Street Armagh BT617LA Date
Armagh County Agricultural Show Society Statement of Financial Activities for the year ended 31 December 2023 Total Funds 2023 Total Funds 2022 Notes Incoming Resources: Incoming resources from charitable activities Interest receivable 161,249 124,354 Total Incoming Resources 161,249 124,354 Resources Expended.. Charitable activities Governance costs Interest payable Loss on PMS Investment 124,430 1,678 105,144 1,040 3,789 Total Resources Expended 126,108 109,973 Net Income from Resources Available For Charitable Applications 35,141 14,381 Reconciliation of Funds Total funds brought foNard 220,187 205,806 Total Funds to Carry Forward 255,328 220,187
Armagh County Agricultural Show Society Balance Sheet as at 31 December 2023 Employment of Capital Notes Total Funds 2023 Total Funds 2022 Fixed Assets Tangible Assets 41,912 41,095 Current Assets Debtors and Prepayments Bank and Cash 20,384 195,973 216,35 179,842 179,842 Current Liabilities Sundry Creditors and Accruals Trade Creditors 1,941 1,000 2,941 750 750 Net Current Assets 213,416 179,092 Total Assets Less Current Liabilities 255,328 220,187 Funds Restricted Funds 255,328 255,328 220,187 220,187 l approve these accounts on behalf of the Board of Trustees and confim7 that we have made available all relevant records and information required for their preparation Mr S J Hamilton Trustee The notes on pages 10-13 fom part of these accounts.
Armagh County Agricultural Show Society Notes to the accounts for the year ended 31 December 2023 10 Principal accounting policies The financial statements have been prepared in accordance with applicable Accounting Standards in the United Kingdom and the Charities Act {Northem Ireland) 2008. A summary of the more important accounting policies, which have been applied consistently, is set out below. Basis of accounting The financial statements are prepared in accordance with the historica5 cost convention, and in accordance with the Statement of Recommended Practice [SORPI, °Accounting and Reporting by Charities. published in 2008. Taxation The charity is exempt from tax on its charitable acts'vities. Restricted Funds Restricted funds are accounted for in accordan with the particular terms of trust arising from the express or implied wishes of the donors in so far as these are intended to be binding on the charity- Where such wishes are not intended to be binding, they are taken into account and reGognised in appropriately designated funds. Unrestricted Free Reserves Free Reserves represenl amount which are expendable at the discretion of the trustees in furtherance of the objectives of the charity and which have not been designated for any other purpose. Such funds may be held in order to finance working capital or capital expenditure. Incoming Resources Voluntary income or capital is included in the Statement of Financial Activities when the charity is legally entitled to it, its financial value can be quantified with reasonable certainty and there is reasonable certainty of its ultimate receipt. Entitlement to legacies is considered established when the charity has been notified of a distributs'on to be made by the executors. Income received in advance of due perfoTmance under a contract is accounted for as deferred income until earned. Grants for activities are recognised as income when the related conditions for legal entitlement have been met. All other income is accounted for on an accrual basis. Resources Expended All resources expended are accounted for on an accrual basis. Charitable activities include costs of services and grants, support costs and depreciation on related assets. Costs of generating funds similaTly include fundraising activities. Non -staff costs not attributed to one category of activity are allocated or apportioned pro-rat to the staffing of the relevant seNice. Finan, HR and administrative staff costs are directly attributable to individual activities by objective. Govemance costs are those associated with constitutional and statutory requirements. Government grants Grants that relate to specific caprta5 expenditure are treated as deferred income, which is then credited to the Statement of Financial Activities over the related asset's useful life. Revenue grants are credited to the Statement of Financial Activities in the same year as the related exFenditure is incurred. Tangible fixed assets The cost of tangible fixed assets is their purchase cost, together with any incidental expenses of acquisition. Depreciation is calculated so as to wrile off the cost, or valuation of tangible fixed assets, over the expected useful economic lives of the assets concerned. The principal annual rates used for this putpose are.. Fixtures and Equipment 5 Reducing Balance
Armagh County Agricultural Show Society 11 Incoming Resources from Charitable Activities 2023 2022 Entry Fees Advertising Letting of Stands Sponsorship Gate Admission and Catalogues Grant- ABC Council Grant- DAERA I DARD Hire of Show Grounds 14,115 1,640 30,483 22,702 68,404 15,000 7,705 1,200 161,249 12,551 2,256 24,616 17,255 51,162 10,875 4.439 1,200 124,354 Costs of Activities for Charitable Purposes Total 2023 Total 2022 Costs of Charitable Activtties 124,430 124,430 105,144 105,144 4 Tangible Assets Land and Fixtures and Buildings Equipment Total Cost At 1 January 2023 Additions Disposals At 31 December 2023 435 73,243 3,000 73,678 3,000 435 76,243 76,678 Depreciation At1 January 2023 Charge Disposals At 31 December 2023 32,583 2,183 32,583 2,183 34,766 34,766 Net Book Value At 31 December 2023 435 41,477 41,912 At 31 December 2022 435 40,660 41,095
Armagh County Agricultural Show Society 12 Debtors and Prepayments 2023 2022 Sundry Debtors Prepayment Eventbrite ReSee 20,280 100 20,384 Bank Current and Deposit Accounts Total 2023 Total 2022 Plalform Securities PayPal Account Bank of Ireland Current Account Bank of Ireland No. 2 Account Cash on Hand 60,000 673 130,555 4,676 69 195,973 60,000 981 110,883 7,789 189 179,842 Sundry Creditors and Accruals 2023 2022 Accountancy Other Creditors 1,240 701 1,941 750 750 Trade Creditors 2023 2022 Trade Creditors 1,000 1,000 Movement in Funds At the Movement At the 0110112023 In Funds 3111212023 Restricted Funds Restricted Total Funds 220,187 220,187 35,141 35,141 255,328 255,328
Armagh County Agricultural Show Society 13 10 Trustees, Remuneration and Benefits No trustee received any remuneration during the year ended 31 December 2023 (2022 - NIL). No Trustee reiVed any reimbursement for approved expenses incurred in connectKJn with the charity. 11 Company Limited by Guarantee The company is limited by guarantee and has no share capital. On a winding-up, members may be required to contrtbute a maximum of£1.
Armagh County Agricultural Show Society Detailed Statement of Financial Activities for the year ended 31 December 2023 2023 2022 14 Incoming Resources from Charitable Activities: Entry Fees Advertising Letting of Stands Sponsorship Gate Admission and Catalogues Grant- ABC CounGiI Grant- DAERA I DARD Hire of Show Grounds Total Incoming Resources from Charitable Activities: 14,115 1,640 30,483 22,702 68,404 15,000 7,705 1,200 161,249 12,551 2,256 24,616 17,255 51,162 10,875 4,439 1,200 124,354 Resources Expended for Charitable Activities: Materials and Administration Expenses Rent Rates Show Grounds Insurance Light and Heat Judges, Fees Cups and Trophies Prize Money stationery and Printing 25,428 2,304 409 3,586 1,296 455 3,589 3,090 17,119 679 18,353 2,112 362 3,160 1,490 776 4,207 80 17,098 654 111 Postage Advertising and Marketing Computer Expenses and Telephone Hire of Equipment AGM, Show BBQ and Catering Health and Safety Bank Charges Registration Fees General Expenses Donations Entertainment for Show Day Depreciation on Fixtures and Equipment Total Resources Expended for Charitable Activities: 237 6,848 3,855 26,743 9,189 6,035 2,980 564 3,201 670 3,970 2,183 124,430 208 7,131 2,243 26,943 6,536 6,240 1,072 450 50 400 3,440 2,139 105,144 Governance Costs Accountancy Fees 1,678 1,040 Loss on PMS Investment 3,789 Total Resources Expended 126,108 109,973 Net Incoming Resources for the year 35,141 14,381