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COMPANY REGISTRATION NUMBER: 08080710
CHARITY REGISTRATION NUMBER: 1186133
Eggleston Agricultural Society Ltd
Unaudited Accounts
For the Year Ending
31 December 2023
Eggleston Agricultural Society Ltd
Accounts
Year Ended 31 December 2023
Page
Trustees' Annual Report (Incorporating the Director's Report)
1
Independent Examiner's Report to the Trustees
3
Statement of Financial Activities (Including Income and Expenditure Account)
4
Statement of Financial Position
5
Notes to the Accounts
6
Eggleston Agricultural Society Ltd
Trustees' Annual Report (Incorporating the Director's Report)
Year Ended 31 December 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited accounts of the charity for the year ended 31 December 2023 .
Objectives and Activities
The Charity's objects are to promote, advance and improve for the benefit of the public agriculture, horticulture and rural crafts and skills in all their branches by the improvements of livestock and the demonstration and showing of livestock, machinery, crafts, products, methods and processes connected with agriculture and agricultural education in particular by the holding of an annual show.
Public Benefit
Our main activities and who we help are described elsewhere in this report. All our charitable activities are undertaken to further our charitable purposes for the public benefit. The Committee have had regard to the Charity Commission's guidance on public benefit throughout the year when deciding on the activities of the charity.
Achievements and Performance
TBC
Financial Review
The Trustees aim to maintain sufficient "free" reserves to meet the general running costs of the charity for one year. At 31st December 2023 this was estimated at approximately £30,000. Actual "free" reserves at 31st December 2023 were £54,975.
Structure, Governance and Management
Eggleston Agricultural Society is governed by Memorandum and Articles incorporated 25th July 2014 as amended by a special resolution registered at Companies House on 6th September 2019.
Reference and Administrative Details
Registered charity name
Eggleston Agricultural Society Ltd
Charity registration number
1186133
Company registration number
08080710
Principal office and registered
9-11 Chapel Row
office
Middleton In Teesdale
Barnard Castle
DL12 0SN
The Trustees
A Gent
R Oxby
T Tarn
G Wilkinson
G Wilson
K Robinson
Company Secretary
A Teward
Independent Examiner
Jane Ascroft FCA MA (Cantab)
Enterprise House
Harmire Enterprise Park
Barnard Castle
County Durham
DL12 8XP
Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 27 August 2024 and signed on behalf of the board of trustees by:
A Teward
Charity Secretary
Eggleston Agricultural Society Ltd
Independent Examiner's Report to the Trustees of Eggleston Agricultural Society Ltd
Year Ended 31 December 2023
I report to the trustees on my examination of the accounts of Eggleston Agricultural Society Ltd ('the charity') for the year ended 31 December 2023.
Responsibilities and Basis of Report
As the 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 the 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 charity 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.
Jane Ascroft FCA MA (Cantab) Independent Examiner
Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP
27 August 2024
Eggleston Agricultural Society Ltd
Statement of Financial Activities
(including income and expenditure account)
Year Ended 31 December 2023
2023
2022
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
2,517
2,517
5,429
Charitable activities
6
24,881
24,881
31,463
--------
--------
--------
Total income
27,398
27,398
36,892
--------
--------
--------
Expenditure
Expenditure on charitable activities
7,8
31,374
31,374
30,985
--------
--------
--------
Total expenditure
31,374
31,374
30,985
--------
--------
--------
--------
--------
--------
Net (expenditure)/income and net movement in funds
( 3,976)
( 3,976)
5,907
--------
--------
--------
Reconciliation of funds
Total funds brought forward
58,951
58,951
53,044
--------
--------
--------
Total funds carried forward
54,975
54,975
58,951
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Eggleston Agricultural Society Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current Assets
Debtors
12
421
62
Cash at bank and in hand
56,077
59,129
--------
--------
56,498
59,191
Creditors: amounts falling due within one year
13
1,523
240
--------
--------
Net Current Assets
54,975
58,951
--------
--------
Total Assets Less Current Liabilities
54,975
58,951
--------
--------
Net Assets
54,975
58,951
--------
--------
Funds of the Charity
Unrestricted funds
54,975
58,951
--------
--------
Total charity funds
14
54,975
58,951
--------
--------
For the year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These accounts were approved by the board of trustees and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
K Robinson
Trustee
Eggleston Agricultural Society Ltd
Notes to the Accounts
Year Ended 31 December 2023
1. General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 9-11 Chapel Row, Middleton In Teesdale, Barnard Castle, DL12 0SN.
2. Statement of Compliance
These accounts have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting Policies
Basis of Preparation
The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The accounts are prepared in sterling, which is the functional currency of the entity.
Going Concern
There are no material uncertainties about the charity's ability to continue.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The trustees consider that there are no significant estimates or judgements affecting these financial statements.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Income
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.
Cash at Bank and in Hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Taxation
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
4. Limited by Guarantee
The company is limited by guarantee. At 31st December 2023 there were 6 members each of whom had undertaken to contribute an amount not exceeding £10 in the event of a winding up.
5. Donations and Legacies
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Donations
Subscriptions and donations
2,517
2,517
Grants
Grant from Durham County Council
-------
----
-------
2,517
2,517
-------
----
-------
Unrestricted Funds
Restricted Funds
Total Funds 2022
£
£
£
Donations
Subscriptions and donations
2,405
2,405
Grants
Grant from Durham County Council
3,024
3,024
-------
-------
-------
2,405
3,024
5,429
-------
-------
-------
6. Charitable Activities
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Gate entrance takings
12,366
12,366
21,081
21,081
Entry fees
4,691
4,691
4,616
4,616
Trade stands
6,391
6,391
5,766
5,766
Catering income
1,182
1,182
Sheep race
251
251
--------
--------
--------
--------
24,881
24,881
31,463
31,463
--------
--------
--------
--------
7. Expenditure on Charitable Activities by Fund Type
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Charitable expenditure (see page 13 for details)
31,374
31,374
--------
----
--------
Unrestricted Funds
Restricted Funds
Total Funds 2022
£
£
£
Charitable expenditure (see page 13 for details)
27,865
3,120
30,985
--------
-------
--------
8. Expenditure on Charitable Activities by Activity Type
Activities undertaken directly
Total funds 2023
Total fund 2022
£
£
£
Charitable expenditure (see page 13 for details)
31,374
31,374
30,985
--------
--------
--------
9. Independent Examination Fees
2023
2022
£
£
Fees payable to the independent examiner for:
Independent examination of the accounts
252
240
----
----
10. Staff Costs
The average head count of employees during the year was Nil (2022: Nil).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
11. Trustee Remuneration and Expenses
During the current and previous year trustees received neither remuneration nor expenses from the charity.
12. Debtors
2023
2022
£
£
Trade debtors
421
62
----
----
13. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
1,523
240
-------
----
14. Analysis of Charitable Funds
Unrestricted funds
At 1 January 2023
Income
Expenditure
Transfers
At 31 December 2023
£
£
£
£
£
General funds
58,951
27,398
(31,374)
54,975
--------
--------
--------
----
--------
At 1 January 2022
Income
Expenditure
Transfers
At 31 December 2022
£
£
£
£
£
General funds
53,044
33,868
(27,865)
(96)
58,951
--------
--------
--------
----
--------
15. Analysis of Net Assets Between Funds
Unrestricted Funds
Total Funds 2023
£
£
Current assets
56,498
56,498
Creditors less than 1 year
(1,523)
(1,523)
--------
--------
Net assets
54,975
54,975
--------
--------
Unrestricted Funds
Total Funds 2022
£
£
Current assets
59,191
59,191
Creditors less than 1 year
(240)
(240)
--------
--------
Net assets
58,951
58,951
--------
--------