REGISTERED COMPANY NUMBER: SC226780 (Scotland) REGISTERED CHARITY NUMBER: SC033000
:
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 January 2026
for Sutherland Agricultural Society Show Limited
Mackay & Co Chartered Accountants Unit 8 Golspie Business Park Golspie Sutherland KW10 6UB
_ Sutherland Agricultural Society Show Limited
Contents of the Financial Statements for the Year Ended 31 January 2026
| Page | Page | ||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 13 |
| DetailedStatementofFinancialActivities | 14 | to | 15 |
_ Sutherland Agricultural Society Show Limited
Report of the Trustees for the Year Ended 31 January 2026
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2026. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main objects are -
to promote, organise and hold shows, competitions, lectures, classes and meetings, to give prizes, cups, medals, awards and distinctions.
to promote and develop agricultural, horticultural and related interests in all their branches and to promote high standards of farming and animal husbandry.
to encourage the participation, education and involvement of young people in agriculture and related industries particularly in Sutherland and the surrounding area.
Significant activities
The principal activity of the company is the promotion of agricultural enterprise and rural affairs, particularly by the holding of an annual agricultural show (known as the Sutherland Agricultural Show).
Volunteers
The charity could not operate without the assistance of a dedicated and loyal band of volunteers, who give up their time to help organise the annual show and to attend the show in the capacity of marshalls and general helpers.
STRATEGIC REPORT
Achievements and performance
Charitable activities
The charity organises the annual Sutherland Agricultural Show, as well as various related fundraising events.
The 2025 show day was once again a successful day. There were a good number of competitors and the main ring events had been popular, especially the Pony Club, however a heavy rain shower cleared the field late afternoon. Despite the rain, the evening dance was well attended, there was a slightly younger crowd, but the music was enjoyed by all.
Financial review
Principal funding sources Principal funding sources include dance entry fees, show-day admissions and trade stand income.
The financial checks and show day cash checklist worked well and helped reduce risk for cash handlers and the company. The amount owed to the company as of 31st January 2026 was £6,903.
Page 1
_ Sutherland Agricultural Society Show Limited
Report of the Trustees for the Year Ended 31 January 2026
STRATEGIC REPORT
Financial review
Reserves policy
The directors have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Unrestricted reserves are needed to bridge the funding gap between initial spending to organise the Show and other events and receiving resources through entry fees and other income sources that provide funding. Reserves are also held to cover possible emergencies. The directors consider that the present level of funds is sufficient for the charity's purposes.
Principal risks and uncertainties
The risks and uncertainties faced by the charity are relatively low - the source of sufficient funding which enables the charity to meet its financial obligations is totally dependant upon both public's and local businesses’ continued willingness to support the annual agricultural show by their attendance and participation, regardless of weather conditions on the day.
The trustees also have a responsibility to ensure that the objectives of the charity can be met for as long as financially possible.
The trustees have also tightened their financial policy to prevent any future fraud situation. Both the president and vice president now have full control over the bank accounts, along with the new treasurer. A financial checks and balances document had been produced, along with a treasurer responsibilities list and a show day cash checklist.
Future plans
The charity plans to continue to run the annual Sutherland Agricultural Show, as well as various related fundraising events.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The governing documents of the charity are the Memorandum and Articles of Association of the company which was incorporated on 8 January 2002 as a company limited by guarantee of £1 per member and has no share capital.
Recruitment and appointment of new trustees
New directors are appointed by the members and undergo an appropriate induction programme to brief them on their obligations under charity and company law and on the financial performance of the company.
Organisational structure
The charity is administered by the board of directors who meet regularly. Directors are not remunerated for their work.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number $C226780 (Scotland)
Registered Charity number
$C033000
Page 2
_ Sutherland Agricultural Society Show Limited
Report of the Trustees for the Year Ended 31 January 2026
Registered office Unit 8 Golspie Business Park Golspie Sutherland KW10 6UB
Trustees E Cameron D A Fraser A Fraser GDB Lipp Ms K Marr A Munro R Rekhy JR Steven | A Muir Miss V C Bagshaw A D Mackay Mrs C Gilchrist S McHardy M Hay (appointed 15.10.25)
Company Secretary
Mrs C Cameron
Independent Examiner Marcus D Maclver Chartered Accountant Mackay & Co Chartered Accountants Unit 8 Golspie Business Park Golspie Sutherland KW 10 6UB
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on vee OVEN. NOD..... and signed on the board's behalf by:
Mrs C Cameron - Secretary
Page 3
_ Independent Examiner's Report to the Trustees of Sutherland Agricultural Society Show
Limited
| report on the accounts for the year ended 31 January 2026 set out on pages five to thirteen.
Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. Basis of the independent examiner's report My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention :
-
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
-
- to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
TheMarcusInstitute D Maclver Chaof Charte r tereded Ac¢ountantsthof Scotland
Mackay & Co
Chartered Accountants Unit 8 Golspie Business Park Golspie Sutherland KW 10 6UB
Date: Ma aden Me...
Page 4
_ Sutherland Agricultural Society Show Limited
Statement of Financial Activities for the Year Ended 31 January 2026
| 31.1.26 | 31.1.25 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | ; | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 2 | 452 | - | 452 | 529 |
| Charitable activities | 3 | ||||
| Show activities | 69,986 | - | 69,986 | 66,752 | |
| Other income | 306 | - | 306 | 108 | |
| Total | 70,744 | - | 70,744 | 67,389 | |
| EXPENDITURE ON | |||||
| Charitable activities | |||||
| Show activities | 66,458 | 5,903 | 72,361 | 60,896 | |
| NET INCOME/(EXPENDITURE) | 4,286 | (5,903) | (1,617) | 6,493 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 115,000 | 117,823 | 232,823 | 226,330 | |
| TOTALFUNDSCARRIEDFORWARD | 119,286 | 111,920 | 231,206 | 232,823 |
The notes form part of these financial statements
Page 5
_ Sutherland Agricultural Society Show Limited
Balance Sheet
| Balance Sheet | |||||
|---|---|---|---|---|---|
| 31 January 2026 | |||||
| 31.1.26 | 31.1.25 | ||||
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 6 | 35,581 | 111,920 | 147,501 | 148,855 |
| CURRENT ASSETS | |||||
| Debtors Cash at bank |
7 | 7,508 78,338 |
- - |
7,508 78,338 |
27,641 57,096 |
| 85,846 | - | 85,846 | 84,737 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 8 | (2,141) | - | (2,141) | (769) |
| NET CURRENTASSETS | 83,705 | - | 83,705 | 83,968 | |
| TOTALASSETS LESS CURRENT | |||||
| LIABILITIES | 119,286 | 111,920 | 231,206 | 232,823 | |
| NETASSETS | 119,286 | 111,920 | 231,206 | 232,823 | |
| FUNDS | 9 | ||||
| Unrestricted funds: | |||||
| General fund | 119,286 | 115,000 | |||
| Restricted funds: | |||||
| Shed | 111,920 | 117,823 | |||
| TOTALFUNDS | 231,206 | 232,823 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.
-
The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
_ Sutherland Agricultural Society Show Limited
Balance Sheet - continued
31 January 2026
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on JS. MATA. DOOC....... and were signed on its behalf by:
eitSe ol E Cameron - Trustee
The notes form part of these financial statements
Page 7
_ Sutherland Agricultural Society Show Limited
Notes to the Financial Statements
for the Year Ended 31 January 2026
- ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 4% on cost Plant and machinery - 20% on reducing balance and 10% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for the purpose for which they are received, and the asset purchased with those funds may not be sold for 5 years from when the final monies are received.
Page 8
continued...
_ Sutherland Agricultural Society Show Limited
Notes to the Financial Statements - continued for the Year Ended 31 January 2026
| 2. | DONATIONS AND LEGACIES | DONATIONS AND LEGACIES | ||
|---|---|---|---|---|
| 31.1.26 | 31.1.25 | |||
| £ | E | |||
| Donations | 452 | 529 | ||
| 3. | INCOME FROM CHARITABLE ACTIVITIES | |||
| 31.1.26 | 31.1.25 | |||
| Activity | E | £ | ||
| Competition Income | Show activities | 6,047 | 6,225 | |
| Catalogue income | Show activities | 1,965 | 3,148 | |
| Trade stands | Show activities | 3,170 | 3,750 | |
| Admissions/Show-day | ||||
| gates | Show activities | 29,180 | 26,936 | |
| Grants | Show activities | - | 1,950 | |
| Marquee dances | Show activities | 8,770 | 6,295 | |
| Showground attractions | Show activities | 600 | 800 | |
| Catering for public | Show activities | 3,080 | 2,810 | |
| Bar income | Show activities | 15,659 | 14,104 | |
| Prize-giving dinner | ||||
| dance | Show activities | 1,515 | 734 | |
| 69,986 | 66,752 | |||
| Grants received, included | in the above, are as follows: | |||
| a1elaeo | 31.1.25 | |||
| £ | E | |||
| RHASS | - | 1,950 | ||
| 4. | NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) | is stated after charging/(crediting): | |||
| 31.1.26 | 31;1,25 | |||
| £ | £ | |||
| Depreciation-ownedassets | 15,076 | 14,119 |
Page 9
continued...
_ Sutherland Agricultural Society Show Limited
Notes to the Financial Statements - continued for the Year Ended 31 January 2026
- TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 January 2026 nor for the year ended 31 January 2025.
Trustees’ expenses
There were no trustees' expenses paid for the year ended 31 January 2026 nor for the year ended 31 January 2025.
- TANGIBLE FIXED ASSETS
| 6. | TANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|---|
| Long | Plantand | Computer | |||
| leasehold | machinery | equipment | Totals | ||
| £ | . | £ | Ee | ||
| COST | |||||
| At 1 February 2025 | 147,571 | 47,420 | 1,820 | 196,811 | |
| Additions | - | 13,323 | 399 | 13,722 | |
| At 31 January 2026 | 147,571 | 60,743 | 2,219 | 210,533 | |
| DEPRECIATION | |||||
| At 1 February 2025 | 29,748 | 16,952 | 1,256 | 47,956 | |
| Charge for year | 5,903 | 8,758 | 415 | 15,076 | |
| At 31 January 2026 | 35,651 | 25,710 | 1,671 | 63,032 | |
| NET BOOK VALUE | |||||
| At 31 January 2026 | 111,920 | 35,033 | 548 | 147,501 | |
| At 31 January 2025 | 117,823 | 30,468 | 564 | 148,855 | |
| ts | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | |||
| 31.14.26 | 31.1.25 | ||||
| E | e | ||||
| Trade debtors | 560 | - | |||
| Other debtors | 6,903 | 27,425 | |||
| Prepayments and accrued income | 45 | 216 | |||
| 7,508 | 27,641 |
Page 10
continued...
_ Sutherland Agricultural Society Show Limited
Notes to the Financial Statements - continued for the Year Ended 31 January 2026
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|
| 31.41.26 | 31.41.25 | |||
| £ | £ | |||
| Trade creditors | 1,441 | 70 | ||
| Accrued expenses | 700 | 699 | ||
| 2,141 | 769 | |||
| 9. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.2.25 | in funds | 31.1.26 | ||
| £ | a | £ | ||
| Unrestricted funds | ||||
| General fund | 115,000 | 4,286 | 119,286 | |
| Restricted funds | ||||
| Shed | 117,823 | (5,903) | 111,920 | |
| TOTAL FUNDS | 232,823 | (1,617) | 231,206 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | E | ||
| Unrestricted funds | ||||
| General fund | 70,744 | (66,458) | 4,286 | |
| Restricted funds | ||||
| Shed | - | (5,903) | (5,903) | |
| TOTALFUNDS | 70,744 | (72,361) | (1,617) |
Page 11
continued...
_ SutherlandLimited Agricultural Society Show
Notes to the Financial Statements - continued for the Year Ended 31 January 2026
9. MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.2.24 | in funds | 31.1.25 | |
| x | £ | 3 | |
| Unrestricted funds | |||
| General fund | 102,605 | 12,395 | 115,000 |
| Restricted funds | |||
| Shed | 123,725 | (5,902) | 117,823 |
| TOTAL FUNDS | 226,330 | 6,493 | 232,823 |
| Comparative net movement in funds, included in the above are as | follows: | ||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 67,389 | (54,994) | 12,395 |
| Restricted funds | |||
| Shed | - | (5,902) | (5,902) |
| TOTAL FUNDS | 67,389 | (60,896) | 6,493 |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Net | |||
| movement | At | ||
| At 1.2.24 | in funds | 31.1.26 | |
| E | Ee | £ | |
| Unrestricted funds | |||
| General fund | 102,605 | 16,681 | 119,286 |
| Restricted funds | |||
| Shed | 123;725 | (11,805) | 111,920 |
| TOTALFUNDS | 226,330 | 4,876 | 231,206 |
Page 12
continued...
_ SutherlandLimited Agricultural Society Show
Notes to the Financial Statements - continued for the Year Ended 31 January 2026
9. MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| : | £ | £ | |
| Unrestricted funds | |||
| General fund | 138,133 | (121,452) | 16,681 |
| Restricted funds | |||
| Shed | - | (11,805) | (11,805) |
| TOTALFUNDS | 138,133 | (133,257) | 4,876 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 January 2026.
Page 13
_ SutherlandLimited Agricultural Society Show
| Detailed Statement of | Financial Activities | ||||
|---|---|---|---|---|---|
| for the Year Ended 31 | January 2026 | ||||
| 31.1.26 | 31.1.25 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS | |||||
| Donations and legacies | |||||
| Donations | 452 | - | 452 | 529 | |
| Charitable activities | |||||
| Competition Income | 6,047 | - | 6,047 | 6,225 | |
| Catalogue income | 1,965 | - | 1,965 | 3,148 | |
| Trade stands | 3,170 | - | 3,170 | 3,750 | |
| Admissions/Show-day | gates | 29,180 | - | 29,180 | 26,936 |
| Grants | - | - | - | 1,950 | |
| Marquee dances | 8,770 | - | 8,770 | 6,295 | |
| Showground attractions | 600 | - | 600 | 800 | |
| Catering for public | 3,080 | - | 3,080 | 2,810 | |
| Bar income | 15,659 | - | 15,659 | 14,104 | |
| Prize-giving dinner dance | 1,515 | - | 1,515 | 734 | |
| 69,986 | - | 69,986 | 66,752 | ||
| Other income | |||||
| Other income | 306 | - | 306 | 108 | |
| Total incoming resources | 70,744 | - | 70,744 | 67,389 | |
| EXPENDITURE | |||||
| Charitable activities | |||||
| Prizes | 3,251 | - | 3,251 | 2,193 | |
| Judge accommodation & expenses | 1,124 | - | 1,124 | 1,115 | |
| Rosettes | 1,138 | - | 1,138 | 1,134 | |
| Other expenses | 433 | - | 433 | - | |
| Bar purchases | 7,040 | - | 7,040 | 6,319 | |
| Food purchases | 2,224 | - | 2,224 | 2,004 | |
| Showground attractions | 1,710 | - | 1,710 | 2,806 | |
| Prize-giving dinner dance cost | 1,604 | - | 1,604 | 1,146 | |
| Hire of tents and toilets | 870 | - | 870 | 959 | |
| Generator, radio hire | & power | 5,265 | - | 5,265 | 5,525 |
| Fencing | 480 | ~ | 480 | - | |
| Repairs and maintenance | 683 | - | 683 | 135 | |
| Engraving | 806 | - | 806 | 1,018 | |
| Carriedforward | 26,628 | - | 26,628 | 24,354 |
This page does not form part of the statutory financial statements
Page 14
Sutherland Agricultural Society Show Limited
Detailed Statement of Financial Activities for the Year Ended 31 January 2026
| for the Year Ended 31 January 2026 | |||||
|---|---|---|---|---|---|
| 31.1.26 | 31.1.25 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| £ | £ | £ | E | ||
| Charitable activities | |||||
| Brought forward | 26,628 | - | 26,628 | 24,354 | |
| Bad debts | - | - | ~ | 80 | |
| Lease on shed land | 800 | - | 800 | 800 | |
| Marquee dance expenses | 2,598 | - | 2,598 | 2,843 | |
| Labour costs | 9,385 | - | 9,385 | 8,100 | |
| Licences | 862 | - | 862 | - | |
| 40,273 | - | 40,273 | 36,177 | ||
| Support costs | |||||
| . | Other | ||||
| Insurance | 2,742 | - | 2,742 | 2,526 | |
| Postage and stationery | 638 | - | 638 | 967 | |
| Administration | 3,362 | - | 3,062 | 932 | |
| Health & Safety | 7,600 | - | 7,600 | 2,243 | |
| Advertising | 1,890 | - | 1,890 | toca | |
| Legal and professional fees | - | - | - | 1,858 | |
| Depn of leasehold property | - | 5,903 | 5,903 | 5,902 | |
| Depn of plant & machinery | 8,758 | - | 8,758 | 7,617 | |
| Depn of computer equipment | 415 | - | 415 | 601 | |
| 25,405 | 5,903 | 31,308 | 23,999 | ||
| Governance costs | |||||
| Accountancy | 780 | - | 780 | 720 | |
| Total resources expended | 66,458 | 5,903 | 72,361 | 60,896 | |
| Netincome | 4,286 | (5,903) | (1,617) | 6,493 |
This page does not form part of the statutory financial statements
Page 15