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 2024 Noel Conn & Company Chartered Accountants
Arniagh County Agricultural Show Society Accounts for the year ended 31 December 2024 Contents Page Trustees and Other Infomiation... Report of the Trustees....................................................... Statement of Trustees, Responsibilities............... Reportofthe Independent Examiners.............................................. Statement of Flnancial Activities.... Statement of Financial Position....................................... Notes to the Financial Statements................................ .10
Amiagh County Agricultural Show Society Trustees and Other Information Trustees Mr S N Morton Mr A W Mcconnell MrWGS Parr Mr S J Hamilton Mr G A Mccall Mr E W CrozEr Secretary Mrs F E Mccall Contact Detsils Gosford FOSt Park Markethill Amiagh BT601 GD Telephone: 028 37522333 Email: info@amaghshow.com Independent Examiner N1 Conn & Company 7 Seven Hows Upper English Street Armagh BT617LA Bankers Bank of Ireland 11 Upper English Strt Armagh BT617BH Danske Bank 74-76 Scotch Street Arnagh BT617DJ Charlty Commlsslon Nl Number 104972 Company Reglstratlon Number N1046942
Armagh County Agricultural Show Society Trustees report for the year ended 31 December 2024 The Trustees, who are also directors for the purposes of company law, present their report along with the financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 10. Constitution Amiagh County Agricultural Show Society is an incorporated body and is a recognised charity by HM Revenue and Customs, Amiagh County Agricultural Show sIety was registered as a charity by the Charity Commission Northem Iland on 14 June 2003 under number104972. Organlsation The Trustees who have served during the year are detailed out on page 3. Who are Armagh County Agricultural Show Society The Show Committee has the power lo have and exercise general supeNision and conlrol 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 Sociely's charitable objeclives are.. The promotion of agriculture in Northem Ireland by holding an annual agricultural show, and by delivering agricultural instruction through exhibitions, lectures, and other such means as may from b'me to time be found expedient. The promotion of industries, art, sciences, and literature. These have always been trealed as minor in relation lo the main objective of promoting agriculture. The Society seeks to achieve its objectives through.. The delivery ofthe annual agricultural show which seeks to'.- Contribute to the enhancement of public awareness and understanding of the Province's agri-food sector. Promote gcod famiing practices and developmenl 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 Ihe promolion of the sector. The promotion of the arts through maintaining facilities and services to enable the venue to cost a range of cultural events. Furthemore, the S(xiety 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 thal the assets, investments, and funds of the Society are pnjdently managed. Utilise the assets, investments, and funds of the Society to pul in place sustainable enabling finance streams.
Armagh County Agricultural Show Society Statement of Public Benefit The Trustees telieve that bjth our purposes and ts'v.es undertaken in this last finarKial year clearly sats'sfy elements of the public benefit requirement. The committee considers that these objeyts'ves, 'VIlies, aTrJ goals have a clear public benefit in enhancing the sla1, economic, and cultural v11-bring of rural communities. The public benefits include= Improving standards of livest(Kk and agriculturdl pteS Vdithin the agricultural sector in Northem Ireland in particular, and teyond. PServing and maintaining hwJh staTrJards and skill levels Viithin the agrUltural sector in Northem Ireland, and beyond. Developing and preserving rural crafts and craftsmanship necessary to enhan the agricultural sector in the Province. Ensuring that rural tradits'ons and skills are passed down through successive generations of the agricultural community. Improving the welfare of agricultural animals through the recognits.on of high standards of a3ricultural husbandry throughoLrt the Provin and beyond. Enhancing the general public's knOWge and understanding of the Province's agri-fcoj sector. Achievements and Performance Amiagh County Show is one of the longest-tunning shovaS in Ireland wth a repKJrt of a show being held in the City of Aagh as far back as 1829. The agriculture, IQal food, and rural life elements of our Show continue to te the driwng force behind our organisation. However, we make sure every effort is made to cater for all tastes and intestS of the thousands of visitors that attend the event each year and the prcgramme is constantly uwlated to reflect and resp)nd to those interests. Financial Review During the year ended 31 December 2024, the charity received total income of £192,273 and had total expenditure of £137,450, ytelding a surplus of £54,823. Movements in tangible assets during the year are Sho 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 prcmjuced so that the nSSary steps can te taken to reduce these risks. By order of the Trustees S k,,[ 3 2£ Trustee Date
Armagh County Agricultural Show Society Statement of Trustees, Responsibilities The Trustees are resFonsible for preparing the Trustees, Annual RetM)rt and the Financial Statements in accordance th the applicable law and United Kingdom Accounting Starvjards. The law applicable to charities in Northem Ireland requires trustees to prepare financial statements for each financial year. Under that law the trustees have prepared the financial statements in accordance with Generally Accepted Accounts'ng PraCts in the United Kingdom (accounting standards issued by the Financial Rewrting Council in the UK, including Charities SORP (FRS 1021. Accounts'ng and Reporting by Charities: Ststements of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and promulgated by the Institute of Chartered Accountants in the United Kingdom and United Kingdom Lawl. Under that law the trustees must 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 ackn'vib'es of the charity for that penc#J. In preparing these financial statements, the trUStS are required to: select suttable accounting policies and then apply trE consistently. observe the methods and principles in the Chartlies SORP., make judgements and estimates that a reasonable and prudent., state whether the applicabon of accounting standards have teen 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 that the charity will conb'nue in business. The trustees a reskx)nsible for keeping proFer )untr.ng 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 Charits'es Act {Northem IrelarNJ) 2008 and the Charity {Accounts and Reports) Regulalj'ons (Northem Ireland) 2008. They are also reskK)nsible for safeguarding the assets of the chanty and hen for taking reasonable steps for the prevention a1 detection of fraud arKJ other itregularib'es. The trustees a reswnsible for the rna1ntenan and integnty of the corForate and financial information incSuded on the charity's website. LegislatM)n in the United Kingdom goveming the preparation and dissemination of financial statements may differ from legislab'on in otherjurisdictions. Statement as to disclosure to our independent examiner In so far as the trUStS are aware at the kn'ming of approwng our trustees, annual rerx)rt: there is no relevant infornath?n of which the charitsble 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 infomab'on and to establish that the company's independent examiner is aware of that infomiation. Independent Examiner A resoluts'on to r&app)int the independent examiner, Noel Conn & Company. will be proposed at the annual general meeting By order of the Trustees
3Z Trustee Date
Armagh County Agricultural Show Society Independent Examiner's report for the year ended 31 December 2024 We have examined the financial statements of Amiagh County Agricultural Show Society as set out on pages 10 - 13 for the year ended 31 t)ecemter 2024, whh comprise of the Ststement of Financial Activrties, The Balae Sheet, and the related notes. This rewrt is made solely to the Charity Trustees, as a Ly, in cOrdan with regulatK)ns maje under the Charities Act (Northem Ireland) 2008. Our examination work has been undertaken so that we mighl state to the Charity's Trustees those matters we are required to stste to them in an ir¥Jependent examinerfs report and for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibilty to anyone other than the Charity and the charitys Tnjstees as a try, for our examinatK)n work, for this report, or for the opinions we have fomied. Responsibilities of the Armagh County Agricultural Show Society Trustees and Examiner It is our responsibilty to: examine the accounts under section 65 of the CharTlies Act., to follow the procedures laid dovm in the general directions given by the Commission under section 6519)(b) of the Charits'es Act,. and to stste whether particular matters have come to our attention. Basis of the independent examiner's 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 directsons given by the Charity Commission for Northem Ireland under section 65{9){bl of the Charities Act. Our examination included a review of the accounting records kept by the charity arKI a comparison of the accounts presented wilh those records. 11 also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees corEming any such matters. Our role is to state whether any material Matte have come to our attention giving us cause to believe.. 1. That accounting records were not kept in &cordance with section 63 of the Charib'es Act. 2. That the )Unts do not accord with those accounting records. 3. That the &counts do not comply with the &counting requirements of the Charities Act. 4, That there is fvrther infonnation needed for a proper understanding of the accounts to be reached. Independent examiner's statement: We have completed our examination and have no concems in reSt of the matter5 {1) to (4) 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. 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 2024 Total Funds 2024 Total Funds 2023 Notes Incoming Resources: Incoming reSoUrS from charitable activities Investment Income 191,092 1,181 161,249 Total Incoming Resources 192,273 161,249 Resources Expended: Charitable activities Governan costs 135,962 1,488 137,450 124,430 1,678 126,108 Total Resources Expended Net Income from Resources Available For CharitableApplications 54,823 35,141 Reconciliation of Fund5 Total funds brought forward 255,328 220,187 Total Funds to Carry FoThvard 310,151 255,328
Armagh County Agricultural Show Society Statement of Financial Position as at 31 December 2024 Employment of Capital Notes Totsl Funds 2024 Total Funds 2023 Fixed Assets Tangible Assets Albert E Sharp Investments 52,125 68,744 41,912 60,000 10 Current Assets Debtors and Prepayments Bank and Cash 6,670 195,523 20,384 135,973 Current Liablllties Sundry Creditors and Accruals Trade Creditors 1,500 3,300 1,941 1,000 Net Current Assets 197,393 153,416 Total Assets Less Current Liabilities 318,262 255,328 Funds Restricted Funds Valuation Reserve 310,151 8,111 318,262 255,328 11 55,32 l approve these accounts on behalf of the Board of Trustees and confim that we have made available all relevant ordS and infomiation required for their pparation Mr S J Hamilton Trustee The noles on pages 10-13 fomi part of these nts.
Armagh County Agricultural Show Society 10 Notes to the accounts for the year ended 31 December 2024 Principal accounting policies The financial statements have prepared in acCOrdar with applicable Accounting Standards in the United Kingdom and the Charits'es Act (Northem Ireland) 2C(18. A summary of the more important accounb'ng policies, which have been applied consistently, is set out bek)w. Basis of accounting The financial Stateffnts are prepared in ordan wrth the historical cost convention, and in accordance with the Statement of RecommerKled Practice [SORP], 'Accounting arKI Reporting by CharitEs° published in 2008. Taxation The charity is exempt from tsx on its Charitab acts'Vis. Restricted Funds Restricted funds are accounted for in [dan with the particular temis of trust arising from the express or implied wishes ofthe 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 r6wnised in appropriately designated funds. Unrestricted Free Reserves Free Reserves represent amount which are expendable at the dISction of the trustees in furtheran of the objectives of the charity and which have not been designated for any other purFM)se. Such fijnds may be held in order to finan working capital or capita5 expenditure. Incoming Resources Voluntary income or capital is included in the Statement of Financial Actr'vits'es when the charity is legally enb'tled to it, its financial value can be quantified reasonable certainty and there is reasonable certainty of its ultimate receipt. Entitlemenl to legacies is considered established when the charity has been nots'fied of a distributj'on to be made by the executors. Income received in advan of due perfOnanCe under a contract is accounted for as deferred income until eamed. Grants for &tivities are recognised as income when the felated conditions for legal entitlement have been met. All other income is accounted for on an accrual basis. Resources Expended All resources exrEnded are COunted for on an acctual basis. Charitable &tivities include costs of ServIS and grants, support costs and depreciation on related assets. Costs of generating funds similarty include fijndraising activities. Non -staff costs not attributed to one category of activity are althated or apportioned pr&rat to the staffing of the relevant servi. Finance, HR and administrative stsff costs are directly atttibutable to individual activilies by objeclive. Governan costs are those associated with constitutsonal and statutory requirements. Government grants Grants that relate lo specffic capilal expendÈture 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 expEnditure is incurred. Tangible fixed assets The cost of tangible fixed assets is their purchase cost, tC*3ether wrth any InCental expenses of acquisition. Depreciation is calculated so as to write off the cost, or valuation of tangible fixed assets, over the eXted useful onomic lives of the assets concemed. The principal annual rates used for this purrJ)se are.. Fixtures and Equipment 5 RedLKing Balan
Armagh County Agricultural Show Society 11 Incomlng Resources from Charitable Activities 2024 2023 Entry Fees Advertising Letting of Stands Sponsorship Gate Admission and Catalogues Grant- ABC Council Grant- DAEFIA I DARD Hire of Show Grounds 18,020 2,150 34,020 37,970 71,TlO 15,000 11,262 14,115 1,640 30,483 22,702 68,404 15,000 7,705 1,200 161,249 191,092 3 Costs of Activities for Charitable Purposes Total 2024 Total 2023 Costs of Charilable Activities 135,962 135,962 124,430 124,430 4 Tanglble Assets Land and Fixtures and Buildings Equipment Total Cost At1 January 2024 Additions Disposals At 31 December 2024 435 76,243 12,934 76,678 12,934 435 89,177 89,612 .Depreciatlon At 1 January 2024 Charge Disposals At 31 December 2024 34,766 2,721 34,766 2,721 37,487 37,487 Net Book Value At 31 December 2024 435 51,690 52,125 At 31 December 2023 435 41,477 41,912
Armagh County Agricultural Show Society 12 Debtors and Prepayments 2024 2023 Sundry Debtors Trade Debtors Prepayment Eventbrite Reserve 3,750 1583 337 20,280 1(X) 6,670 20,384 6 Bank Current and Deposit Accounts Total 2024 Total 2023 PayPal Account Bank of Ireland Current AoUnt Bank of Ireland No. 2 Account Danske Bank Current Account Cash on Hand 258 97,468 4,650 93,078 69 195,523 673 130,555 4,676 69 135,973 7 Sundry Credltor8 and Accruals 2024 2023 Accountancy Other Creditors 1,240 260 1,500 1,240 701 1,941 8 Trade Credltors 2024 2023 Trade Creditors 3,300 3,300 1,000 1,000 Movement In Funds At the Movement At the 0110112024 In Funds 3111212024 Restricted Funds Restricted Total Funds 255,328 255,328 54,823 4823 310,151 310,151
Armagh County Agricultural Show Society 13 10 Investments Equity investments are stated at the Iob%er of oiiginal cost or current tM)ok value on the Balan Sheet Investment with Albert E Sharp 2024 Original Cost Value of Dividends and Interest Reinvested Total Cost 60,000 8,744 68,744 Quoted value at 31 Dember 2024 77,409 11 Valuation ReseNe 2024 Opening Balance Valuation Gain from Prior Years not pvioUSlY recorded Valuats'on Gain in Current Year Closing Balanc8 7,479 632 8,111 12 Trustees, Remuneration and Benefits No trustee received any remuneration during the year ended 31 December 2024 (2023 - NIL). The following payments were made to Trustees, during the year for expenses incurred: 2024 Total Amounl Paid 5,222 Nature of Expenses: Reimbursement of Costslmileage IT Sup[InterneVCOmputel equipment 3,900 1,322 5,222 Number of Trustees Reimbut5ed 13 Company Llmited by Guarantee The company is limrted by guarantee and has no share capitsl. On a winding-up, memters may be required to contribute a maximum of £1.
Arniagh County Agricultural Show Society Detailed Statement of Financial Activities for the year ended 31 December 2024 2024 2023 14 Incomlng Resources from Charitable Activities: Enty Fees Advertising Letting of Stands Sponsorship Gate Admission and Catalogues Grant- ABC Council Grant- DAEFIA I DARD Hire of Show Grounds Total Incoming Resources from Charitable ACtltIeS. 18,020 2,150 34,020 37,970 71,7TO 15,000 11,262 900 191,092 14,115 1,640 30,483 22,702 68,404 15,000 7,705 1,2DO 161,249 Incoming Resources from Invesment Activities: Dividendsllnterest 1,181 Resources Expended for Charitable Activities: Materials and Administration Expenses Rent Rates Show Grounds Insuran Light and Heat Judges, Fees Cups and Trophies Prize Money Stationery and Printing Postage Advertising and Marketing Computer Expenses and Telephone Hire of Equipment AGM, Show BBQ and Catering Health and Safety Bank Charges Investment Management Fees Registration Fees General Expenses Donations Entertainment for Show Day Depreciation on Fixtures and Equipment Total Resources Expended for Charttable Activities: Governance Costs Accountancy Fees 29,798 1,310 (2,432) 3,362 1,413 25,428 2,304 409 3,586 1,296 455 3,589 3,090 17,119 679 237 6,848 3,855 26,743 9,189 6,035 2.980 3,638 3,898 20,038 2,721 263 7.189 4,256 31,735 9,123 6,218 3,376 547 462 1,936 510 1535 2,721 135,962 564 3,201 670 3,970 2,183 124,430 1,488 1,678 Total Resources Expended 137.450 126,108 Net Incoming Resources for the year 54,823 35.141