Registered number: 07007505
Charity number: 1133252
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
CONTENTS
|
|
Reference and administrative details of the charity, its Trustees and advisers
|
|
|
|
Independent examiner's report
|
|
Statement of financial activities
|
|
|
|
Notes to the financial statements
|
|
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
Mrs J M Lenton, Vice Chair
|
|
|
|
|
|
|
|
|
|
|
Company registered number
|
|
Charity registered number
|
|
|
20 Whiston Way
St Neots
Cambs
PE19 6AU
|
|
Streets Whitmarsh Sterland LLP
Potton House
Wyboston Lakes
Great North Road
Wyboston
Bedford
MK44 3BZ
|
|
Barclays Bank
Leicester
Leics
LE87 2BB
|
|
Cambridge and Counties Bank
Charnwood Court
New Walk
Leicester
LE1 6TE
|
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report together with the financial statements of the charity for the year 1 January 2023 to 31 December 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The charity's objective is the advancement of agriculture and horticulture for the public benefit.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
The objectives have, once again, been achieved by holding the society's annual show at Great Gransden, maintaining the traditional community event of previous years and attracting people of all ages, from all walks of life. The community benefits from the opportunity to provide services to the show with the committee using local trade where possible. The show includes a variety of competitions, exhibitions, displays, and trade stands, to involve and educate local schools, community groups and families.
For the local agricultural and horticultural community, the show is an opportunity to come together to exchange ideas and knowledge, make new acquaintances and renew old ones. There is strong sense of community within the show which is well regarded by many.
Local schools are eligible to apply for grants to enhance the pupils' understanding of agriculture and horticulture. Applications were received from schools during the year. Previous grants have been used to develop gardening, farming and outdoor activities and to support trips for educational, agricultural or horticultural purposes.
c. Main activities undertaken to further the charity's purposes for the public benefit
The charity seeks to provide an annual show in the village of Great Gransden, as one of the few events of its type still run on a regular basis in the UK.
The committee who organise the details of the show (which involves trustees and other individuals) seek to provide a range of demonstrations and activities which provide something of interest for everyone while maintaining an agricultural flavour. The show day also provides an opportunity for visitors to get close to a range of farm animals.
The charity is dependent on income received from visitors and businesses attending the show, as well as other sponsorship and advertising revenue. When surplus funds are available, the trustees make donations to other charities and community groups.
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
Objectives and activities (continued)
In 2023, donations were given to the following charities and other organisations including RABI, Mothers Union, Ladies in Pigs, British Pig Association, Bowls Club, Cambourne Detachment, Country Trust and Roundabout Magazine.
The trustees consider that the range of activities provided and donations made to other organisations enable the charity to fulfil its requirement to operate for the public benefit, in accordance with the Charity Commission guidance.
Achievements and performance
a. Main achievements of the charity
The society's members committee and directors sub committee meet several times during the year to plan Gransden and District Agricultural Society's annual show.
The charity's online booking system recorded 4,335 tickets being sold on the day, plus around 2,500 sold in advance. If members, judges and exhibitors are also included, it is estimated that over 7,500 people visited the show.
The show included many of the usual competitions for sheep, cattle, poultry and horses and welcomed displays of rare breed animals, flowers, country crafts and vintage vehicles around the showground. The show continues to be well publicised in the local community, as well as using the charity's website and Facebook pages.
The success of the 2023 show enabled the charity to give a total of £6,075 to other organisations (2022 £5,000).
Financial review
a. Going concern
The charity generated net income of £16,370 in the year (2022 surplus of £2,733). After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The trustees are mindful that the costs of holding the show each year continue to rise and that a great deal of time is provided free of charge by volunteers, particularly in the weeks leading up to the day of the show. It has been the charity's policy to maintain reserves sufficient to support at least a full years expenditure as it would not be unknown for the show to have to be cancelled the day before, still incurring the majority of costs but without any income. The trustees consider that the main risk factors which may cause the show to be cancelled are diseases and poor weather, neither of which can be controlled by the charity.
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
Financial review (continued)
The trustees estimate the total annual costs to be in the region of £110,000 per annum and seek to hold general reserves of at least this amount. The charity's actual level of reserves continues to be much higher than the minimum reserves policy largely due to a number of successful years, where attendance at the show has brought in more than enough income to cover costs. However, as the show is held out of doors, it is dependent on good weather and the commitment of members and trustees, so levels of income cannot be relied upon for future years. Consequently, the trustees need to maintain sufficient reserves to cover any potential shortfall in the future. The trustees have continued to actively promote the grant schemes available to individuals and schools and have increased the donations made to other organisations in 2023. They continue to monitor the level of accumulated reserves going forward to ensure that the charity's funds are used to further the charitable objectives.
Structure, governance and management
a. Constitution
Gransden and District Agricultural Society is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
b. Methods of appointment or election of Trustees
The management of the company is the responsibility of the trustees/directors. The appointment of trustees/directors is in accordance with the Memorandum and Articles of Association. The directors may appoint mid-term, by resolution, a person who is willing to act to be a director but this person must then retire at the next AGM and cannot be used to determine the one third of directors being required to retire by rotation annually. Election at the AGM is by members majority.
c. Organisational structure and decision-making policies
The board of trustees/committee meet regularly to prepare for the annual show. The company consists of a board of directors and, in addition to this board, there are further committee members. The main decision making is via the directors with a limited amount of delegation to the Secretary for every day operation in consultation with the Chairman. The committee members specialise in specific areas of the show and give advice to the directors on procedural issues relating to their areas.
d. Financial risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
e. Trustees' indemnities
In accordance with normal commercial practice, the charity has purchased indemnity insurance to protect the trustees/directors from claims arising against them while acting on behalf the charity. The level of cover for directors and officers is £5,000,000 and corporate cover is £2,500,000.
Plans for future periods
The next show is planned to take place on Saturday 28 September 2024 and information for visitors, competitors and exhibitors is being made available on the charity's website: gransdenshow.org.uk as and when it is available.
Statement of Trustees' responsibilities
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
Statement of Trustees' responsibilities (CONTINUED)
The Trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
∙select suitable accounting policies and then apply them consistently;
∙observe the methods and principles of the Charities SORP (FRS 102);
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
G N S Kiddy
Chair of trustees
|
|
|
|
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Independent examiner's report to the Trustees of Gransden and District Agricultural Society ('the charity')
|
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2023.
Responsibilities and basis of report
|
As the Trustees of the charity (and 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 charity 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 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:
|
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
|
|
the accounts do not accord with those records; or
|
|
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
|
|
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.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed: Dated: 2 September 2024
Linda J Lord BSc BFP FCA TEP
Streets Whitmarsh Sterland LLP
Potton House, Wyboston Lakes, Great North Road, Wyboston, Bedford. MK44 3BZ
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023
|
|
|
|
|
Total funds brought forward
|
|
|
|
|
|
|
|
|
|
Total funds carried forward
|
|
|
|
|
The Statement of financial activities includes all gains and losses recognised in the year.
|
The notes on pages 9 to 18 form part of these financial statements.
|
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
REGISTERED NUMBER: 07007505
BALANCE SHEET
AS AT 31 DECEMBER 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
G N S Kiddy
Chair of trustees
|
|
|
|
The notes on pages 9 to 18 form part of these financial statements.
|
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
As set out in the trustees' report, Gransden and District Agricultural Society is an incorporated charity registered in England and Wales. The address of their registered office is 20 Whiston Way, St Neots, Cambs PE19 6AU.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The charity's objects are stated in the trustees' report.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Gransden and District Agricultural Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses, including support costs and costs relating to the governance of the charity, are included in charitable activities.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and 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.
|
|
Liabilities and provisions
|
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
|
|
Income from charitable activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysis of expenditure on charitable activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
|
|
Analysis of expenditure by activities
|
|
|
|
|
|
|
|
|
|
|
|
Activities undertaken directly
2023
|
Grant funding activities
2023
|
|
|
|
|
|
|
|
|
|
|
|
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
6.Analysis of expenditure by activities (continued)
|
Analysis of support costs
|
|
|
|
|
|
Accountancy fees and independent examination
|
|
|
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
|
|
|
|
|
|
|
|
|
|
|
|
Grants and Donations
2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bedfordshire Young Farmers
|
|
|
|
|
|
|
|
|
|
Matthew John Thornton Higgs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
|
|
|
|
|
|
|
|
|
Contribution to defined contribution pension schemes
|
|
|
|
|
|
|
|
The average number of persons employed by the charity during the year was as follows:
|
|
|
|
|
|
|
|
|
|
No employee received remuneration amounting to more than £60,000 in either year.
The key management personnel of the charity comprise the trustees and the Show Secretary. None of the trustees receive any remuneration. The total amount of employee benefits (including employer pension contributions) received by key management personnel for their services to the charity was £14,291 (2022 £12,747).
|
|
Trustees' remuneration and expenses
|
|
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
|
|
During the year ended 31 December 2023, expenses of £11 were reimbursed to one of the Trustees, who paid for showground and other expenses on behalf of the charity.
|
|
|
|
|
|
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
|
|
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
|
Current asset investments
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
Statement of funds - current year
|
|
|
|
Balance at 1 January 2023
£
|
|
|
Balance at 31 December 2023
£
|
|
|
|
|
|
|
|
|
General funds - Net income generated from the annual show is added to general reserves and will be used to fund future activities in accordance with charitable objectives.
|
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
|
|
Statement of funds (continued)
|
|
|
Statement of funds - prior year
|
|
|
|
Balance at
1 January 2022
£
|
|
|
Balance at
31 December 2022
£
|
|
|
|
|
|
|
|
|
|
Analysis of net assets between funds
|
|
|
Analysis of net assets between funds - current year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors due within one year
|
|
|
|
|
|
|
|
|
Analysis of net assets between funds - prior year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors due within one year
|
|
|
|
|
|
|
|
GRANSDEN AND DISTRICT AGRICULTURAL SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
|
Related party transactions
|
|
The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 31 December 2023.
|
|