Great Eccleston & Dist Ag Soc Ltd - Charities report - 22.2

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 2023

for

The Great Eccleston and District

Agricultural Society Limited

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 2023. 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

The society made donations to various charities during the year. These included a donation towards a charity tractor run and donations to the local parish council and local schools who volunteer their help at the show.

On the weekend of the show, a combine harvester on a charity run was on the show field. Public donations made towards this were matched by the society.

FINANCIAL REVIEW

Reserves policy

The present level of funding is adequate to support the show's future in the long term and the trustees consider the financial position of the charity to be very good. Donations will be made out of investment income to charitable causes.

Investment income will also be reinvested in the show, by way of being used to fund improvements to the show field and towards costs of running the show.

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.

An extension to the existing building is to be carried out in 2024.

Content of Annual Show

The livestock sections are being constantly reviewed and expanded where appropriate.

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

Millstones

Strickens Lane

Barnacre

Preston

Lancashire

PR3 1UD

Trustees

Mr T E Redmayne Trustee

Mr J Matthews Trustee (resigned 8/1/24)

Mr JA Greenhalgh Trustee

Mr R J Mason Trustee (resigned 8/1/24)

Mr B Parkinson Trustee (resigned 9/1/23)

Mrs J A Eckersley Trustee (resigned 8/1/24)

Mr H J Meadows Trustee

Mr J Bracken Trustee (appointed 9/1/23)

Miss S L Hewitt (appointed 8/1/24)

Mrs S E Fryars (appointed 8/1/24)

Company Secretary

Mrs JA Simpson

Independent Examiner

Towers + Gornall Ltd

Chartered Certified Accountants

River View

96 High Street

Garstang

Preston

Lancashire

PR3 1WZ

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 8th January 2024 and signed on its behalf by:

Mr JA Greenhalgh - Trustee

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

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th September 2023.

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.

Mick Gornall

Towers + Gornall Ltd

Chartered Certified Accountants

River View

96 High Street

Garstang

Preston

Lancashire

PR3 1WZ

8th January 2024

2023

2022

Unrestricted

Total

funds

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

7,922

5,473

Other trading activities

2

200,562

281,180

Investment income

3

31,391

9,469

Other income

340

-

Total

240,215

296,122

EXPENDITURE ON

Raising funds

258,025

215,535

Charitable activities

Agricultural Show

49,570

523,036

Other

68,771

40,592

Total

376,366

779,163

Net gains on investments

-

2,568,033

NET INCOME/(EXPENDITURE)

(136,151

)

2,084,992

RECONCILIATION OF FUNDS

Total funds brought forward

2,467,919

382,927

TOTAL FUNDS CARRIED FORWARD

2,331,768

2,467,919

2023

2022

Unrestricted

Total

funds

funds

Notes

£

£

FIXED ASSETS

Tangible assets

8

750,216

760,181

CURRENT ASSETS

Debtors

9

17,611

10,065

Cash at bank

1,583,859

2,197,318

1,601,470

2,207,383

CREDITORS

Amounts falling due within one year

10

(19,918

)

(499,645

)

NET CURRENT ASSETS

1,581,552

1,707,738

TOTAL ASSETS LESS CURRENT LIABILITIES

2,331,768

2,467,919

NET ASSETS

2,331,768

2,467,919

FUNDS

11

Unrestricted funds

2,331,768

2,467,919

TOTAL FUNDS

2,331,768

2,467,919

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2023 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 8th January 2024 and were signed on its behalf by:

Mr JA Greenhalgh - 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

2023

2022

£

£

Entry fees

18,901

13,633

Trade space

44,612

47,793

Admissions

121,858

195,513

Catalogues

388

415

Profit from bar

9,211

21,843

Advertising in catalogue

650

-

Food hall

2,475

1,233

Craft

2,467

750

200,562

281,180

3.	INVESTMENT INCOME

2023

2022

£

£

Rents received

4,608

1,576

NW tractor pullers

4,275

3,833

Deposit account and other interest

21,426

1,602

RPA receipt

1,082

2,458

31,391

9,469

4.	NET INCOME/(EXPENDITURE)

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

2023

2022

£

£

Depreciation - owned assets

22,756

16,567

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30th September 2023 nor for the year ended 30th September 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30th September 2023 nor for the year ended 30th September 2022.

6.	STAFF COSTS

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

2023

2022

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

5,473

Other trading activities

281,180

Investment income

9,469

Total

296,122

EXPENDITURE ON

Raising funds

215,535

Charitable activities

Agricultural Show

523,036

Other

40,592

Total

779,163

Net gains on investments

2,568,033

NET INCOME

2,084,992

RECONCILIATION OF FUNDS

Total funds brought forward

382,927

TOTAL FUNDS CARRIED FORWARD

2,467,919

8.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1st October 2022

925,708

2,200

3,118

931,026

Additions

12,791

-

-

12,791

At 30th September 2023

938,499

2,200

3,118

943,817

DEPRECIATION

At 1st October 2022

168,306

-

2,539

170,845

Charge for year

22,281

330

145

22,756

At 30th September 2023

190,587

330

2,684

193,601

NET BOOK VALUE

At 30th September 2023

747,912

1,870

434

750,216

At 30th September 2022

757,402

2,200

579

760,181

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

13,595

7,482

VAT

4,016

2,583

17,611

10,065

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

19,918

27,170

Tax

-

472,475

19,918

499,645

11.	MOVEMENT IN FUNDS

Net

Transfers

At

movement

between

At

1/10/22

in funds

funds

30/9/23

£

£

£

£

Unrestricted funds

General fund

2,467,919

(15,206

)

(120,945

)

2,331,768

Show Account

-

(120,945

)

120,945

-

2,467,919

(136,151

)

-

2,331,768

TOTAL FUNDS

2,467,919

(136,151

)

-

2,331,768

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

31,732

(46,938

)

(15,206

)

Show Account

208,483

(329,428

)

(120,945

)

240,215

(376,366

)

(136,151

)

TOTAL FUNDS

240,215

(376,366

)

(136,151

)

Comparatives for movement in funds

Net

Transfers

At

movement

between

At

1/10/21

in funds

funds

30/9/22

£

£

£

£

Unrestricted funds

General fund

382,927

2,059,484

25,508

2,467,919

Show Account

-

25,508

(25,508

)

-

382,927

2,084,992

-

2,467,919

TOTAL FUNDS

382,927

2,084,992

-

2,467,919

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

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

9,472

(518,021

)

2,568,033

2,059,484

Show Account

286,650

(261,142

)

-

25,508

296,122

(779,163

)

2,568,033

2,084,992

TOTAL FUNDS

296,122

(779,163

)

2,568,033

2,084,992

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

Net

Transfers

At

movement

between

At

1/10/21

in funds

funds

30/9/23

£

£

£

£

Unrestricted funds

General fund

382,927

2,044,278

(95,437

)

2,331,768

Show Account

-

(95,437

)

95,437

-

382,927

1,948,841

-

2,331,768

TOTAL FUNDS

382,927

1,948,841

-

2,331,768

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

41,204

(564,959

)

2,568,033

2,044,278

Show Account

495,133

(590,570

)

-

(95,437

)

536,337

(1,155,529

)

2,568,033

1,948,841

TOTAL FUNDS

536,337

(1,155,529

)

2,568,033

1,948,841

12.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30th September 2023.