Great Eccleston & Dist Ag Soc Ltd - Charities report - 20.2

REGISTERED COMPANY NUMBER: 05019969 (England and Wales)

REGISTERED CHARITY NUMBER: 1104640

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 30th September 2020

for

The Great Eccleston and District

Agricultural Society Ltd

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Statement of Financial Position

5

Notes to the Financial Statements

6

to

10

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 30th September 2020. 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).

ACHIEVEMENT AND PERFORMANCE

Development, activities and achievements in this year

Unfortunately due to the Coronavirus pandemic across the world this year, unfortunately the show was cancelled with a view to safety.

The trustee's are all very much looking forward to the 2021 show which promises to be another huge success as the shows have been in previous years.

FINANCIAL REVIEW

Reserves policy

The present level of funding is adequate to support the show's future in the medium term and the trustees consider the financial position of the charity to be satisfactory.

FUTURE PLANS

Infrastructure

The Trustees are continually improving and maintaining the infrastructure of the Show Ground to provide better all-weather access by upgrading and extending roads and tracks.

Content of Annual Show

The livestock sections are being constantly reviewed and expanded where appropriate. The awards for "environmentally friendly farming" initiated in 2003 are being expanded and developed to reflect the changes in national and European Union farming policy, giving priority to environmental conservation (Cross Compliance).

Risk Review

Following an independent risk report, the Trustees resolved to take appropriate action on its recommendations. Progress in reducing risk to visitors and exhibitors is reviewed after each event and policies and procedures updated where necessary.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The operation of the company is governed by the Memorandum and Articles of Association.

The company's principal objectives, as set out in the Memorandum of Association are:-

- To promote rural industry and agriculture for the benefit of the public, to encourage skill and industry in agriculture and all trades, crafts and professions connected with agriculture through demonstrations and exhibitions of livestock, machinery, crafts, methods and processes connected with agriculture methods in the Fylde area of Lancashire.

- To promote such other charitable purposes as the Trustees of the charity shall think fit.

There were no changes in the period to the policies adopted by the company in order to further its objectives.

Appointment of new trustees

All directors of the company are also trustees of the charity, and there are no other trustees. All of the trustees named on page 1 served throughout the period. The board has the power to appoint additional trustees as it considers fit to do so.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05019969 (England and Wales)

Registered Charity number

1104640

Registered office

Unsworth House

St Michaels on Wyre

Preston

Lancashire

PR3 0TD

Trustees

Mr T E Redmayne Trustee (appointed 19/12/19)

Mr J Matthews Trustee

Mr JA Greenhalgh Trustee

Mr M Gunson Chairman (resigned 19/12/19)

Mr H Hewitt Trustee (resigned 19/12/19)

Mr R J Mason Trustee

Mr B Parkinson Trustee

Mrs J A Eckersley Trustee

Mr H J Meadows Trustee (appointed 19/12/19)

Company Secretary

Mrs S Robinson

Independent Examiner

Towers + Gornall Ltd

Chartered Certified Accountants

Abacus House

The Ropewalk

Garstang

Preston

Lancashire

PR3 1NS

Bankers

The Royal Bank of Scotland

39 Poulton Street

Kirkham

Preston

PR4 2DP

Solicitors

Oglethorpe, Sturton and Gillibrand

16 Castle Park

Lancaster

LA1 1YG

Approved by order of the board of trustees on 24th February 2021 and signed on its behalf by:

Mrs J A Eckersley - Trustee

Independent examiner's report to the trustees of The Great Eccleston and District Agricultural Society Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th September 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jonathan D Cross

FCCA

Towers + Gornall Ltd

Chartered Certified Accountants

Abacus House

The Ropewalk

Garstang

Preston

Lancashire

PR3 1NS

24th February 2021

2020

2019

Unrestricted

Total

funds

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

360

12,353

Other trading activities

2

421

225,073

Investment income

3

6,261

8,361

Total

7,042

245,787

EXPENDITURE ON

Raising funds

15,141

158,564

Charitable activities

Agricultural Show

30,738

43,119

Other

8,377

27,941

Total

54,256

229,624

NET INCOME/(EXPENDITURE)

(47,214

)

16,163

RECONCILIATION OF FUNDS

Total funds brought forward

468,780

452,617

TOTAL FUNDS CARRIED FORWARD

421,566

468,780

2020

2019

Unrestricted

Total

funds

funds

Notes

£

£

FIXED ASSETS

Tangible assets

8

287,457

305,557

CURRENT ASSETS

Debtors

9

4,941

-

Cash at bank

129,168

168,698

134,109

168,698

CREDITORS

Amounts falling due within one year

10

-

(5,475

)

NET CURRENT ASSETS

134,109

163,223

TOTAL ASSETS LESS CURRENT LIABILITIES

421,566

468,780

NET ASSETS

421,566

468,780

FUNDS

12

Unrestricted funds

421,566

468,780

TOTAL FUNDS

421,566

468,780

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2020 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.

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 24th February 2021 and were signed on its behalf by:

Mrs J A Eckersley - Trustee

1.	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.

Freehold property

-

4% on cost

Computer equipment

-

25% on reducing balance

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 particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.	OTHER TRADING ACTIVITIES

2020

2019

£

£

Entry fees

-

7,769

Trade space

-

51,002

Admissions

-

145,351

Catalogues

-

1,032

Profit from bar

-

13,069

Electricity

-

1,660

Advertising in catalogue

-

750

Food hall

-

2,425

Craft

-

2,000

Receipts from previous year

421

15

421

225,073

3.	INVESTMENT INCOME

2020

2019

£

£

Rents received

3,099

3,097

NW tractor pullers

1,000

3,021

Deposit account interest

206

265

RPA receipt

1,956

1,978

6,261

8,361

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2020

2019

£

£

Depreciation - owned assets

18,100

18,112

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30th September 2020 nor for the year ended 30th September 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30th September 2020 nor for the year ended 30th September 2019.

6.	STAFF COSTS

The average monthly number of employees during the year was as follows:

2020

2019

Secretary

1

1

Treasurer

1

1

2

2

No employees received emoluments in excess of £60,000.

7.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

12,353

Other trading activities

225,073

Investment income

8,361

Total

245,787

EXPENDITURE ON

Raising funds

158,564

Charitable activities

Agricultural Show

43,119

Other

27,941

Total

229,624

NET INCOME

16,163

RECONCILIATION OF FUNDS

Total funds brought forward

452,617

TOTAL FUNDS CARRIED FORWARD

468,780

8.	TANGIBLE FIXED ASSETS

Freehold

Computer

property

equipment

Totals

£

£

£

COST

At 1st October 2019 and 30th September 2020

451,649

2,194

453,843

DEPRECIATION

At 1st October 2019

146,229

2,057

148,286

Charge for year

18,066

34

18,100

At 30th September 2020

164,295

2,091

166,386

NET BOOK VALUE

At 30th September 2020

287,354

103

287,457

At 30th September 2019

305,420

137

305,557

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Prepayments

4,941

-

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts (see note 11)

-

5,475

11.

LOANS

An analysis of the maturity of loans is given below:

2020

2019

£

£

Amounts falling due within one year on demand:

Bank overdraft

-

5,475

12.	MOVEMENT IN FUNDS

Net

Transfers

At

movement

between

At

1/10/19

in funds

funds

30/9/20

£

£

£

£

Unrestricted funds

General fund

468,780

(32,638

)

(14,576

)

421,566

Show Account

-

(14,576

)

14,576

-

468,780

(47,214

)

-

421,566

TOTAL FUNDS

468,780

(47,214

)

-

421,566

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

6,685

(39,323

)

(32,638

)

Show Account

357

(14,933

)

(14,576

)

7,042

(54,256

)

(47,214

)

TOTAL FUNDS

7,042

(54,256

)

(47,214

)

Comparatives for movement in funds

Net

Transfers

At

movement

between

At

1/10/18

in funds

funds

30/9/19

£

£

£

£

Unrestricted funds

General fund

452,617

(64,311

)

80,474

468,780

Show Account

-

80,474

(80,474

)

-

452,617

16,163

-

468,780

TOTAL FUNDS

452,617

16,163

-

468,780

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

8,374

(72,685

)

(64,311

)

Show Account

237,413

(156,939

)

80,474

245,787

(229,624

)

16,163

TOTAL FUNDS

245,787

(229,624

)

16,163

A current year 12 months and prior year 12 months combined position is as follows:

Net

Transfers

At

movement

between

At

1/10/18

in funds

funds

30/9/20

£

£

£

£

Unrestricted funds

General fund

452,617

(96,949

)

65,898

421,566

Show Account

-

65,898

(65,898

)

-

452,617

(31,051

)

-

421,566

TOTAL FUNDS

452,617

(31,051

)

-

421,566

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

15,059

(112,008

)

(96,949

)

Show Account

237,770

(171,872

)

65,898

252,829

(283,880

)

(31,051

)

TOTAL FUNDS

252,829

(283,880

)

(31,051

)

13.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30th September 2020.