REGISTERED COMI PANV NUNIBER: SC299076 (Scotland) REGISTERED CHARITY NUNIBER: SC010186 Report of the Trustees And Finncial Statemenls for the Year Eded 31 Oetober 2025 for Calthness Agrleuliural Sfrelety IA Compny Llmlted by GuarAnlee) Reid & Fraser Chart¢r¢d A¢countants 15 Princes Srree¢ Thurso Caithness KW14 7BQ
CaithDess Agriculthral Society CoDtellt$ of the FAnndl Statement5 for the YtAr Ended 31 October 2025 Pge Report Of the Trystees IDdependen¢ Examiner's Report Statement of FID8¢181 A¢dvlde Bl#n¢¢ Sheet 5 to 6 Notes to the Flnin¢lAI SIAtem¢nt$ 7 to 12 Dttalled St*temeDt of FlnaDelal Attlvitles 13
Calthness AgrI¢u1trl Society IRegistered number: SC299076) Report of the Trn51ees for the YeAr Ended 31 October 2025 The trStee$ who are also directors of the charity for the putposes of the Companies Act 2006. present their report with the financial skntements of the charity foi the year ended 31 October 2025. The trStee5 have adopted the provisions of Accounting alld ReportÈng by Charities.. Siatem¢ni of Recommended Pwti¢¢ applirdbl¢ lo Charities preparing their accounts in accordance with the Fitnncial Rewbrting S(a]rd applieable in the UK alld Republic of Irelajkd {FRS 102) (effective l January 2019). OBJECTtVES AF4D AcrtVlTtES Objective5 and aims The prineipal objective of th¢ ¢ornpany in ihe period under review was to promot< for the bencfii of th¢ public, agTi£ulwre and Nral indusiries in Caiihncss. The activities of the Sociery wtll continue as long as there is a need for IL ACHIEVEMENTS AND PERFORMANCE ChArltAble aetlvltles During 2025, the Caithness AgriculDJral Soeiery enjoyed another highly success1 year in delivering its charitsble objectives. The Societys 182nd Annual Agricultural Show, h¢ld during thc 5umrn¢r, proved to be a significani a¢hi¢v¢rn¢nt. attracting a strong entry of trade stsnds, exhibitors, and competitors acros5 all Clas$. Visjtor Att¢ndan¢¢ was excellent. refleciing coniinued public irttrrest and cngagcment with the Societys aciivities. The level of participation by young people was particularly encouragin8 And ali8n¢d c105ely th¢ So¢i¢ty'$ airn of promoting education and intr51 in agri¢ulturc and ntral lif¢. Th¢ Socicty rcmains graiefijl for the continued support of mcmbcTS, voluni¢eTS, sponsors, and th¢ wid¢r Caithn¢ss MMunity, whox ntributIon is essential to rh¢ succc58 of the Show and the Societys wider WOTk. Looking ahcad to 2026, thc Caithn¢s5 Agricultural sIcty is in a sound financial position and wcll pla¢cd to eontittue protnoting and supporting agriculttwe, rural Skills, and traditions within th¢ region. whÈle mainlaining and cnhancing th¢ lortg-standing heritage of the Caithne&% Agricultural Show. FLNANCIAL REVIEW Reserves poIIcy Th¢ r¢s¢rvc balan¢¢s r¢pr¢s¢rtts th¢ unr¢stricted and restricted fijnd balances arising from past i)perntin8 results. The directors are satisfied that ihe reserves will meet the working capitsl requirements of the eompany. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing do¢urnettt Th¢ chariry is controlled by its governing document, a d¢ed of trwL and eotLStitutes a limiied company. limit by 8uarantec. as defined by the Companics Act 2006. Each member of the company has undertaken to ¢ontribute an amoum not exceeding £1 ts)w4rds any deficit arising in the event of Caithness Agrieulttwal Sociery being placed ill liquidaiion. RecTultment 2nd appolntment (trf new trustees One ihird of the directors retire in rothtion annually and are not eligible for re-appoinuncnt for one year. Vacancies on thc board of director5 arc filled by election ac the Annual General Mling. At the Annual General M¢¢ting a junior vicc-president is elecied. Th¢ progr¢&sion from jwiior vi¢e-prcsideni to vice-presidcnt and thcn president is confim]ed at the Atlnual General Meeting in the following years. Th¢ retiring presiden( con(inues as a dir¢¢tor for one year and then retires in the 5am¢ way as an ordinary director. REFERENCE AND ADMtNISTRATIVE DETAILS Reg15tered Company Dumber SC299076 IS¢oilandl Reglstered Charlty number SC010186 Page I
Caithne55 Agricultsr81 Society (Registered number: SC2991176) Report of tbe Trnstee% for the Yefir Ended 31 October 2025 Registered offic¢ Brnadar Wesffield Thurso Caithness KW14 7QR Trustees I A Miller R W Jnnes Ittsigned 28.1.25} J A Barn¢tson (r¢Sign 28.1.25) A W Finlayson W K Budge (r¢sied 28.1.25) J A Mwray lappointcd 28.1.251 Ms F C Swanson Miss G A Duguid B Sinclair J G Anderson Mrs J H Macleod MJSGunn Miss F E Sin¢lair Mrs Y E S M Cumming J G Swanson MTS E G MillcT (appoin¢¢d 28.1.25) J Murray lappointcd 28.1.25) W Ronaldson lappoinied 28.1.25) Company Secretary MTS N J Ma¢l¢od Independent Ex8mlner Reid & Fraser Charteicd Accountants 15 Princes Str¢ei Thurso Cai(hn¢ss KW14 7BQ Banker5 Royal Bank of Scotland plc Olrig Strcct Thurso Caithn¢ss KW14 7FIL This report has been prepared in aceordancc with th¢ special provisions of Part 15 of the Compani¢s A¢t 2006 rclating to small companies. Approved by order of the board of tru5ttts on............................................. and signed on its b¢half by.. A W Finlayson. T Page 2
Independent Ex%miner'5 Report to the Trustees of Caitbness Agricultural Society (Reglsiered number: SC299076) I report on the accounts for th¢ y¢ar ended 31 0¢ber 2025 set out on pages four to Th¥¢lve. Respeetive responslbl]Ities of trustees and eTaminer The eharitys trnstees ar¢ r¢sponsible for the preparation of the accounts in accordance the ternis of the Charities and Trustee Investment (Scoiland) Act 2(M)5 and the Chariries Accounrs (Scotland} Regulations 2006 (as amended). The chariry's tnjsiees consider that th¢ audit requiremeni of Regulaiion 101 l Hal to (¢} of (he Accounts Regulations does not apply. It is my responsibiliry examine the accounts as rcquiT¢d under Section 44(] Kc) of the Act and to state whether panieular matters have come io rny attention_ Basis ol tbe Independent exatDiner's report My examination was carri¢d out in accoTdance with Regulation I l of th¢ Chariti¢s Accounts IS¢otlandl RegularÉons 2006. An examitiaiion includes a review of th¢ accouniing records kept by the charity and a comparison of the aeeounts presented with thos¢ Twords. It also includes consideraiion of any unusual ii¢ms or di5closW in thc ac¢ow)ts, and seeking explanaiions from you as ttusttts con¢¢rning any such Matters. The procedurcs undenaken do not provide all the evidene¢ that would bc required in an audiL and cotLsequenUy I do not express an audit opinion on thc vi¢w given by the accounts. Independent examlDer's Statement In conneciion with my ¢xaminalion. no n7atter has come to my attention: (l) which gives me reasonabl¢ caus¢ to lieve th*, in any material respxl, the requiremenrs to keep accounting records in accordan¢e with Scctiott 44(1 Xal of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations: and io pr¢par¢ accounts which accord with the accouniing records and to comply wilh Regulation 8 of the 2006 Accounts Re8ulations hav¢ oot been mel. OT 12) to which, in my opinion. allention should be dravrn in order w Cnable a proper understanding of the accounis to be reached. Linda Cameron The lllstitule of Chartered A¢coulltsnts of Scotland Reid & Fraser Chartcred Accountants 15 Prin¢¢s Str¢¢t Thurso Caithness KW14 7BQ li.. acQ( Date-. Pagc 3
C8ithnes5 Agri¢ultsr41 Society Staternent of Financial Acttvities UncorporAtRllg an IDeome and ExpeDdlture ACt0tl) ror the YVAT Ended 31 (ktober 2025 2025 Total funds 2024 TotAI funds Unrestrlcted fund Restrleted fund5 Notes INCOME AND ENDOWMENTS FROM Donations and legacies 1&178 IQ178 17,647 Charitable activities Show Day Members, Subscriptions Pr¢scntatton Evening 83.765 7.017 2.041 83,765 7,017 2.1141 75.911 4,995 1.065 Other trading activiti 62 62 299 Total 109.063 109,1163 99,917 EXPENDITURE ON Charltable actlvltles Show Day Presentation Evening Manag¢mcn¢ & Administration Donations Made Support Costs 84J79 2J13 19,677 2,050 lJ86 84a79 2J13 19.677 2,050 lJ86 72,112 2,463 20,382 2.600 1.320 Total 109.805 109,805 98,877 NET tNCOME/IEXPENDITURE) 1742) (74ZI 1.040 RECONCILIATION OF FUNDS Total funds brought fonvard 101,850 1,1)09 102.859 101,819 TOTAL FUNDS CARRTED FORWARD 101,108 I,IK19 102,117 102,859 The not¢5 fonn part of th¢s¢ financial ststejnents Pag¢ 4
Calthness Agrlcultsral Society (Registered number: SC299076) Balanee Sheet 31 October 2025 2025 TotAI funds 2024 TgtAI funds Unres¢rlcted fund Restrlcted funds P4otes FtXED ASSETS Tangtble assets 12,011 12.011 14,382 CURRENT A&SETS Stocks Debiors Cash at bank and in hand 10 1.878 4.863 88,787 I78 4.863 89,796 2.096 4.941 84,592 12 95,528 1,009 96J37 91,629 CREDITORS AmouDts falling due within on¢ ycur 13 16.431) (6,431) 13.1521 NET CURRENT ASSETS 89.097 1,1)09 90,1116 88.477 TOTAL ASSETS LESS CURRENT LIABILITIES 101,108 1,009 102.117 102.859 NET ASSETS 101.108 1.009 102.117 102,859 FUNDS 14 UnStrIctcd funds.. General fund R¢$lricted funds.. John Allgus Fund 101,108 101,850 1,1109 1,009 TOTAL FUNDS 102,117 102,859 The charitable ¢ompany is ¢ntiiled to ¢xempiion from audii under Se¢lion 477 of the Companies Act 2CKJ6 for th¢ year eAded 31 October 2025. Th¢ members have not required the company to obtain an audit of its financial stslements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006. The tte¢S acknowledge their respoosibilities for (a) ¢nsuring thai the chariiable company keeps ¥¢¢ounting r¢¢ords that comply with 386 and 387 of thc Compatti¢s Aei 2006 and preparing financial statements which give a true and fair view of the srate of affairs of thc chkritable company as at the end of ¢ach flnancial year and of its surplus or deficit for cach financial year in a¢cordance wsth the requirements of Sections 394 and 395 and which othenvise comply with th¢ r¢quirements of the Cornpani¢s Act 2006 relaling to finan¢iJl 5tst¢m¢nts. so far #s applicable io the charitsblc company. (b) Th¢ Dotts forni part of these fiDanci31 statemcllts Page 5 continued...
C*ithness A¥ricultsral Society (Registered number: SC2991176) Balan¢e Sheet- coned 31 October 2025 These finala1 statements have been prepared in accordance with thc provisio applicable to charitable con]pauie5 subject lo the srnall c(Trrnpanies regime. The fiTWitial sttiements were approved by the Board of Trstr¢s and authori6¢d for issu¢ Q4....e.a :..aLth.... and were signed on its belH]f by.. on A W Finlayson. TTUS Th¢ note5 forn] part of these flnancial 5tstcnMts Page 6
C4ithness Agricultural Soeiery Notes to the Statemellts for the Year E]Eded 31 October 2025 ACCOUNTtNG POLICIES BASIS OF PREPARING THE FINAI¥CIAL STATEMEP(rs The financial ststements of the charitsbl¢ company. which is a public benefit entity under FRS 102, have been prepar¢d in accordance with the Chariti&s SORP {FRS 102) 'Accounting and R¢porting by Charities.. Siatcment of Recomrnended Practice applicable to ¢hariti¢s prcparing their accounts in accordance with the Financial Reportirlg Standard appli¢abl¢ in the UK and Republic of Ireland {FRS 102} (effective l January 2019),, Finan¢ial R¢porting Standard 102 The Financial Reporting Standard applicable in th¢ UK and Rcpublic of Ireland, and the Companics Act 2006. Tb¢ fJnan¢ial statements have been preped under the historical cost tonvcniion. INCOME All income is recognised in the Statement of Financial Activiiies once the charity has en(itlement to the fijnds. it is probable that the En¢om¢ will be received and the amount can be tTttsured reliably. EXPENDITURE Liabiliti¢s arc rccognised as cxpendiwre as som as ihere 1$ a legal or ¢on$tructive obligation ¢ommitting th¢ charity to that expenditure. Lt is prOb[C that a iransfer of cconomic bcnefits 111 bc Tcquircd in scttlcmcnt and the amount of thc obligation cjn b¢ mcasured reliably. Expendiwre is accounied for on an accfuals basis and has becD classified und¢r headings that aggregate all cost related to the category. Where cosis cannot be directly attributed to particular h¢adings they h4v¢ allOted activitiw on a basis ¢otLSi$t¢nt with the us¢ of resourccs. TANGIBLE FIXED ASSETS Depreciation LS pfovlded at the followin8 aonual rat¢5 in ord¢r to write off each asset over its estimated useful life. Plartt and ma¢hinery IO% Sight line STOCKS Stocks are valued at the lower of cost and net Tealisable value. after making due 4llowan¢e for obsolete and slow movin8 iiems. TAXATION Tt¥¢ ¢harity is ¢x¢mpt from ¢OTporation lax on its charitsbl¢ a¢tlYLti. FUND ACCOUNTTNG Unrestricted ndS Can be used in accordance with the charitable objectives at th¢ diswetitsn of the tnjstees. Resthcred funds can only be used for particular resiricted purposes within the objects of the eharity. Restrict10115 isc whcn spwifi¢d by th¢ donor or whcn funds ar¢ rdi5cd for particular restricted purposes. Furthcr Planation of thc natu and PUTP05¢ of fithd is included tn the notes to the fancIal statements. Pag¢ 7 eontinu¢d...
Cgithness Agricultural Society Note$ to the F]n3nelal StatemeDts- cfjntinued for the Year Ended 31 October 2025 DONATIONS AND LEGACIES 2025 21J24 Sponsorship & DonatioA8 16,178 17.647 OTHER TRADING AcrtvrriES 2Q25 2024 Oth¢r Income 62 299 INCOME FROM CHAIUTABLE A1VITIEs SHOW DAY INCOME Unrestrieted Funds R¢$tylcd FWMIS 2025 TotAI 2024 Total Gate Takings Show Bar Takings Trade Sthnd&' & Catering Pitchc5 39.453 23.175 39,453 23,175 38.431 18.227 12.716 3.734 12,716 3,734 9,034 3,358 586 3.380 524 700 Eniry Fees Flow¢r Show lin Don8tiot)s 2025) Buffei Dance Ticket Sales 3.035 675 560 3.035 675 560 Catalogu¢ Advertisin8 Income Industrial Collrxtion lin Donations 2025) Dog Show Miscellaneous incomc 741 334 596 418 418 83,765 83,765 75,911 CHARITABLE ACTIVITIES cOs Dlre¢t Costs Support C05t5 TotAIs Show Day Presentation Evening maagem¢llt & Administration Donations Made Support Cosls 84J79 2J13 19,077 2,050 84,379 2.313 19,677 2,0511 1.386 lJ86 10&419 lJ86 109,805 Page 8 ¢ontinucd...
Calthne5s Agricultural Soclety Notes to the Fln4nclal Statements- eontlDued for the Year Ended 31 October 2025 CHARrrABLE ACTIVITIES COSTS- ¢DntSnued SHUW DAY EXPkNDI'fuRE Unrestrictcd Fullds Restricied Funds 2025 Total 2024 Toral Priz¢ Money Judges & Otyicials ExF¢nses Marquees PA Sy8trm Field & Ga Expens¢s Show Day Adv¢rtisin8 Cleaning Li¢¢n¢es Show Day Security Fir51 Aid Miscellan¢ou5 Exp¢nses Catalogue Printin& ¢ Show Danc¢ Show Bar CosLq Main n8 & Other Athctions Bad Debts (earlicr y¢ars' show5) 5.669 5.084 17.647 2.317 11.996 840 675 592 1.645 5.669 5.084 17,647 2.317 11,996 5,897 4.941 17,408 2.373 9,613 2,346 685 10 1,500 1.000 1219 3.982 3,516 11,472 5.950 200 675 S92 1,645 i.Doo 2,924 6.493 4,308 14.364 8.825 2,924 6,493 4.308 14.634 8.825 84.379 84.379 72.112 MANAGEMENT & ADMINISTRATION Unresrricted Funds Resirictrd Funds 2025 TotAI 2024 Total Insurances P05tagc. Stationery & Tclcphone Trade & AllIa(10n fees Bank Charg¢51Strip¢ Charges Storage of Equipment Computer Software Website & Hosting Swrctarl5 Fees Dcpreciation Room Hire Offlce Equipm¢nt 2.402 470 94 1.196 2.000 2.440 202 8.OtK) 2,371 294 174 2.402 470 94 1,196 2,0011 2,440 202 8,000 2J71 1,675 490 91 348 800 2,080 202 11.000 3,198 485 174 19.677 19.677 20,382 SecretsrJ15 fees paid during the year ended 31 Octs)ber 2024 include the sum of £3,51)O rel&ting to the previous yearfs show. Page 9 continued...
Caithne95 Agn¢ttTAl Soclety Notes to the Flllallelal Statemellts- ¢ontlttued for the Year Ended 31 October 2025 NET INCOMEI(EXPENDITURE) Nct incOm&(pendIlUre) is ststed after chargingl(crediting).' 2025 2024 DeprcciatioD- owned &55ets 2J71 3.198 TRUSTEES. REMUNERATION AND BENEFrrs There were no Inte¢s, remuneration or other benefits for the year ¢nded 31 O¢tob¢T 2025 nor for the year ended 31 October 2024. TRUSTEES. EXPENSES Thcrc were no tnle¢s, expenses paid for the y¢ar ¢nded 31 CktoEKr 2025 nor for the year ended 31 October 2024. STAFF COSTS There were no staff ¢osts its¢urred in th¢ year ended 31 Oclober 2025 nor for the year end¢d 31 O¢tob¢r 2024. TANGIBLE FIXED ASSETS PIAnt ¥Jnd m4chlnf ry COST At l November 2024 and 31 Oclob¢r 2025 66,822 DEPRECIATION At l Nov¢mber 2024 Cbar¥e for year 52,4411 2J71 At 31 October 2025 54,811 NET BOOK VALUE Ai 31 Octob¢r 2025 12,011 At 31 Octob¢r 2024 14,382 10. STOCKS 2025 2024 Stock5 1078 2,096 Page 10 ¢ontinu¢d...
Calthness Agrlcultural So¢lety Notes ¢0 the Flnanelal Statemenls- Continued fot the Year Ended 3] October 2025 DEBTORS: AMOUNTS FALLING DUE IVITHTN ONE YEAR 2f12S 21b24 Trade debtor5 Prepayments and accrned income 4,155 708 4,541 400 4,863 4,941 12. CASH AT BANK AND IN HAND 21125 Total funds 2024 Total funds General fund Jobn Angus Fund Cash in hat Current Account PayPal Account Stripe Aceowlt 72 88.515 200 72 89.524 200 72 84.261 200 59 Total 88.787 89.796 84,592 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other creditors 6.431 3,152 14. MOVEMENT IN FUNDS Net movement In fuDdi At 1.11.24 A¢ 31.10.25 Unre5trlcted funds General fid lo13 1742) 101.108 Restrlcted fuDds John Angus Fund 1,009 1.009 TOTAL FUNDS 102,859 (742) 102.117 Nel movement in fimds. included in th¢ abov¢ ar¢ &$ follows.. Inefrmlng resources Resources expended Movement In fllnds Unrestrl£ted funds G¢n¢ral filljd 109.063 1109,805) (742) TOTAL FUNDS 109,063 (109005) (742) Pag¢ll ontinued...
CaIthne Agrlcultur•l Soclety Notes to the Finan¢tsl Stat¢meots- ¢ontlnued for the Yt#r Ended 31 October 2025 14. MOVEMENT IN FUNDS- eontlnued Comparatives for movemtnt in lunds Plet movement ID fund$ At 1.11.23 At 31.10.24 Unrestrlcted fund8 Gen¢ral fund 100.76S 1,085 101,850 Re$¢rlcled funds John Angus Fund 1.054 145) 1.009 TOT AL FUNDS 101,819 1,040 102,859 Comparative nei movemenl in fvnds, included in th¢ abJv¢ a5 follows.. Incomlng re$our¢¢s Resourees expended Move)nent In funds Unrestrlcttd funds General fimd 99,917 (98,832) 1.085 Re$irl¢ted fvnd$ John Angus Fund 1451 14S1 TOTAL FUNDS 99.917 (98.8771 1.040 15. RELATED PARTY DISCLOSURES Th¢re were no relaied party transactions for the year eThJed 31 0¢be1 2025. Page 12
Calthness Agriculiural Society Det4iled St•tement of Fin&nei81 ActiiTrlie5 for the YeAr Ended 31 Oetober 21b25 2025 21124 INCOME AND ENDOWMENTS Donatlons and leg*eles Sponsorship & Donations 16,178 17.647 Other tradlng actlvltle5 Other IrLCOEne 62 299 ChArltable 8Ctlvitles Show Day Income M¢mbers' Subscriptio% Pre5cntation Evenin8 83,765 7.017 2,041 75.911 4.995 1,065 92.823 81,971 Total In¢omlnE re8ourees 1119,063 99,917 EXPENDITURE Charltable acdvltles Show Day Exp¢nditt2r¢ Managemen( & Administration Donation5 Mad¢ Bad debts 84,379 21.91XI 2.050 71,912 22.845 2,600 200 108.419 97,557 Support costs Governin¢¢ costs Ind¢p¢nd¢nt Exarninerfs Ftts lJ86 1,320 Total re50w¢¢$ expcnded 109,805 98,877 Net (expendlture)Iln¢ome (742) 1,040 This page do&$ not lomi part of the 51atutory financia] s(atenKn Page 13