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REGISTERED COMPANY NUMBER: 03157989 (England and Wales)
REGISTERED CHARITY NUMBER: 1056868












Report of the Trustees and

Financial Statements

for the Year Ended 31 October 2023

for

The Garstang and District Agricultural
and Horticultural Society Limited

The Garstang and District Agricultural
and Horticultural Society Limited

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 11

The Garstang and District Agricultural
and Horticultural Society Limited (Registered number: 03157989)

Report of the Trustees
for the Year Ended 31 October 2023



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 October 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The companies' principal objectives, as set out in the Memorandum of Association are:-

To promote and encourage the causes and aims of agriculture, horticulture, forestry and industry for the public benefit and to improve and advance them in all their branches and in all trades, crafts and professions connected with them.

The principal activity undertaken to achieve the above objectives is the organisation and arrangement of the Garstang and District Annual Agricultural Show.

ACHIEVEMENT AND PERFORMANCE
In the opinion of the Trustees, the charity has performed as well as it could. The show was held, as usual, early in August and was severely affected by the weather. The reduced turnover resulted in a £35,755 deficit, compared to a surplus of £28,651 in 2022.

FINANCIAL REVIEW
Financial position
The Statement of Financial Activities shows a net deficit for the year of £35,755 and our reserves stand at £169,128 in total. Cash reserves stand at £66,272.

Investment policy and objectives
Under the memorandum and articles of association, the charity has the power to make any investment which the trustees see fit. The trustees feel at this time that the funds are needed to run the following year's show and the lack of further capital investment is found to be satisfactory at this time.

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
The trustees continue to take actions to strengthen the Society's financial position. We hope to attract more attendances to the annual show by continuing to build on the support of the local community and increasing the awareness of the general public further afield. The committee is hopeful for better weather and financial result to 31st October 2024.

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 charity is established as a company limited by guarantee, and not having share capital, under the Companies Act 2006. The operation of the company is governed by the Memorandum and Articles of Association.

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 year. The board has the power to appoint additional trustees as it considers fit to do so.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03157989 (England and Wales)

Registered Charity number
1056868


The Garstang and District Agricultural
and Horticultural Society Limited (Registered number: 03157989)

Report of the Trustees
for the Year Ended 31 October 2023


Registered office
C/O Towers + Gornall Ltd
River View, 96 High Street
Garstang
Preston
Lancashire
PR3 1WZ

Trustees
Mr MJ Briggs (resigned 27.3.2023)
Mrs EA Eastwood
Mr D Fowler
Mrs AJ Gibson
Mr PR Halhead Director (appointed 27.3.2023)
Mrs RL Metcalf (resigned 27.3.2023)
Mr A Holden (resigned 28.3.2024)
Miss SD Hull (appointed 28.3.2024)
Mr KTR Lee
Mrs P Miller (resigned 28.3.2024)
Mr WH Myerscough
Mr HE Salisbury (appointed 28.3.2024)
Mrs H L Smith
Mr AW Wilding
Mr MS Winstanley
Mrs EA Woodhouse
Miss L R Smith (appointed 27.3.2023)
Mr J Fowler (appointed 27.3.2023)
Miss L Holland (appointed 28.3.2024)

Company Secretary
Mrs G Billington

Independent Examiner
Chloe Bardsley
Towers + Gornall Ltd
Chartered Certified Accountants
River View
96 High Street
Garstang
Preston
Lancashire
PR3 1WZ

Approved by order of the board of trustees on 14 June 2024 and signed on its behalf by:





Mrs H L Smith - Trustee

Independent Examiner's Report to the Trustees of
The Garstang and District Agricultural
and Horticultural Society Limited


Independent examiner's report to the trustees of The Garstang and District Agricultural and Horticultural Society Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 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.








Chloe Bardsley

Towers + Gornall Ltd
Chartered Certified Accountants
River View
96 High Street
Garstang
Preston
Lancashire
PR3 1WZ

14 June 2024

The Garstang and District Agricultural
and Horticultural Society Limited

Statement of Financial Activities
for the Year Ended 31 October 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 9,224 7,832

Other trading activities 2 113,439 158,572
Investment income 3 4,513 5,500
Total 127,176 171,904

EXPENDITURE ON
Raising funds 162,931 5,024


Other - 138,229
Total 162,931 143,253

NET INCOME/(EXPENDITURE) (35,755 ) 28,651


RECONCILIATION OF FUNDS
Total funds brought forward 204,883 176,232

TOTAL FUNDS CARRIED FORWARD 169,128 204,883

The Garstang and District Agricultural
and Horticultural Society Limited (Registered number: 03157989)

Balance Sheet
31 October 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 7 108,811 107,803

CURRENT ASSETS
Debtors 8 839 1,424
Cash at bank 66,272 100,731
67,111 102,155

CREDITORS
Amounts falling due within one year 9 (6,794 ) (5,075 )

NET CURRENT ASSETS 60,317 97,080

TOTAL ASSETS LESS CURRENT LIABILITIES 169,128 204,883

NET ASSETS 169,128 204,883
FUNDS 10
Unrestricted funds 169,128 204,883
TOTAL FUNDS 169,128 204,883

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.


The Garstang and District Agricultural
and Horticultural Society Limited (Registered number: 03157989)

Balance Sheet - continued
31 October 2023

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 14 June 2024 and were signed on its behalf by:





Mrs H L Smith - Trustee





Mr MS Winstanley - Trustee

The Garstang and District Agricultural
and Horticultural Society Limited

Notes to the Financial Statements
for the Year Ended 31 October 2023


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.



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
£    £   
Ticket sales and gate 57,181 111,412
Trade space and food hall 51,951 44,831
Other income - 557
Show ball and fundraising 4,307 1,772
113,439 158,572


The Garstang and District Agricultural
and Horticultural Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


3. INVESTMENT INCOME
2023 2022
£    £   
Grazing rent 2,000 2,000
Deposit account interest 880 61
Rural Payments Agency 1,633 1,939
Environment Agency - 1,500
4,513 5,500

4. NET INCOME/(EXPENDITURE)

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

2023 2022
£    £   
Depreciation - owned assets 452 274

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022.


6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 7,832

Other trading activities 158,572
Investment income 5,500
Total 171,904

EXPENDITURE ON
Raising funds 5,024


Other 138,229
Total 143,253

NET INCOME 28,651


RECONCILIATION OF FUNDS
Total funds brought forward 176,232

TOTAL FUNDS CARRIED FORWARD 204,883

The Garstang and District Agricultural
and Horticultural Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


7. TANGIBLE FIXED ASSETS
Freehold Show
property equipment Totals
£    £    £   
COST
At 1 November 2022 106,251 4,216 110,467
Additions - 1,460 1,460
At 31 October 2023 106,251 5,676 111,927
DEPRECIATION
At 1 November 2022 - 2,664 2,664
Charge for year - 452 452
At 31 October 2023 - 3,116 3,116
NET BOOK VALUE
At 31 October 2023 106,251 2,560 108,811
At 31 October 2022 106,251 1,552 107,803

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 839 1,424

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,694 3,975
Other creditors 1,100 1,100
6,794 5,075

10. MOVEMENT IN FUNDS
Net
At movement At
1.11.22 in funds 31.10.23
£    £    £   
Unrestricted funds
General fund 204,883 (35,755 ) 169,128

TOTAL FUNDS 204,883 (35,755 ) 169,128

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 127,176 (162,931 ) (35,755 )

TOTAL FUNDS 127,176 (162,931 ) (35,755 )


The Garstang and District Agricultural
and Horticultural Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
At movement At
1.11.21 in funds 31.10.22
£    £    £   
Unrestricted funds
General fund 176,232 28,651 204,883

TOTAL FUNDS 176,232 28,651 204,883

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 171,904 (143,253 ) 28,651

TOTAL FUNDS 171,904 (143,253 ) 28,651

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

Net
At movement At
1.11.21 in funds 31.10.23
£    £    £   
Unrestricted funds
General fund 176,232 (7,104 ) 169,128

TOTAL FUNDS 176,232 (7,104 ) 169,128

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 299,080 (306,184 ) (7,104 )

TOTAL FUNDS 299,080 (306,184 ) (7,104 )


The Garstang and District Agricultural
and Horticultural Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2023.