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REGISTERED COMPANY NUMBER: SC384324 (Scotland)
REGISTERED CHARITY NUMBER: SCO41765














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

THE ROYAL NORTHERN AGRICULTURAL SOCIETY
(A COMPANY LIMITED BY GUARANTEE)

THE ROYAL NORTHERN AGRICULTURAL SOCIETY






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Report of the Trustees 1 to 5

Independent Examiner's Report 6

Statement of Financial Activities 7

Balance Sheet 8 to 9

Notes to the Financial Statements 10 to 16

THE ROYAL NORTHERN AGRICULTURAL SOCIETY (REGISTERED NUMBER: SC384324)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024


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 30 April 2024. 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 activities
The company's objects are, for the benefit of the public:

(a) to advance, develop and promote the conservation, protection and improvement of the physical and natural environment in such a way as the company thinks fit: and

(b) to advance, develop and promote the education of the public in general in the conservation, protection and improvement of the physical and natural environment in such ways as the company thinks fit including by the promotion of shows, demonstrations, trials and improvement in land management, animal and crop husbandries and improve varieties.

(c) to advance, develop and promote the education of school children and young agriculturists in such ways as the company thinks fit including by working with such persons and providing their education, to undertake study and travel in furtherance of that education.


THE ROYAL NORTHERN AGRICULTURAL SOCIETY (REGISTERED NUMBER: SC384324)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024

ACHIEVEMENT AND PERFORMANCE
Charitable activities
Early May the Trophy evening once again was held at Thainstone. A wonderful cheery night was enjoyed with recipients from all ages and areas leaving the event feeling quite rightly, very proud.
After many years of passionately caring for and polishing the trophies, John Telfer, "Master of Trophies", has handed the reins onto Anne Bruce, Dorsell, Alford who we are sure will make a gleaming job of it!

Vice President Cameron MacIver from Kinloss accompanied 12 students, who had previously won RNAS awards in the past two years, to the Balmoral Show in Belfast. A great time was had by all and once again the student's knowledge was expanded by the Show visit and a farm visit to Victor Chestnutt's farming operation in Co. Antrim.

Whilst entry forms were sent out to cereal growers, a record dry May and early June resulted in crop growth variance which led to a reduced entry for the Cereal Competition. Conveners Mike Morrice and Claire Green sifted through the crop entries that were judged by Mr Willie Sharp of Banff to culminate as follows:
Champion went to A J Duncan, Muirden, Turriff with a crop of Tapestry Winter Wheat. Reserve champion went to John Forbes & Partner, Slainspark, Kinneff with a crop of Bolton Winter Wheat.

The winners of the 2022 Good Farming Practice Award, the McIntosh family at Mains of Buthlaw, Peterhead hosted a superb open night on their farm in early June on an evening when the sun shone and Buchan looked at its best. An in depth look at their fodder producing operation and highly mechanised farming operation, along with a delicious barbecue and beverages, derived from barley, made for an enjoyable night.

Summer 2023 and the announcement came that our secretary Alison Argo would be stepping down and taking things a wee bit easier (I do believe that!!!). Alison has been Mrs Spring Show for the last fifteen years, a steady, incredibly hardworking and great ambassador for the RNAS. May I take this opportunity on behalf of all the Directors to thank her for her services and wish her a happy retirement!

The ever-changing society that we live in nowadays, made the directors aware that separate positions of Secretary and Treasurer would protect and enhance the RNAS going forward. These positions were quickly filled by Fiona Davidson from Mintlaw as our new Secretary. Fiona, a former RNAS Director, brings with her a wealth of talent, enthusiasm and connections that will help drive the society going forward. The role of Treasurer has similarly been filled by Margaret Frank from Newmachar. Margaret, from a Blairgowrie farming family and an accounting background, gives the society the belt and braces security that independence and commerce requires. The administration team has been bolstered over the last year with the addition of Rachel Reid from Inverurie as minute secretary and Lesley Eaton from Drumoak as Press Secretary. In simple terms the RNAS have a grand team to face the challenges going forward.

Taking our responsibilities as a Society to the next level, we took the decision to employ a Health Safety Advisor and so far, five Directors have attended a comprehensive Health and Safety course.

Another trip to a farm in the Mintlaw area on a fine August night when the combines were chewing up the winter barley resulted in the formulation of the next RNAS specialist event. Beef Tech 25, will be held at Home Farm, Kininmonth on 28th May 2025 by kind permission of the Gall family. This event will be focused on everything associated with cattle and the end product beef - how it eats and tastes. Educational seminars, working machinery demos, feed trial plots, machinery dealership stands, business input suppliers, feed merchants to name but a few. We have already received offers of sponsorship and requests for trade stands so please put the date 28th May 2025 in your diary and get involved in a great day.

November saw a highly successful awards lunch, once again, held at the Leonardo Hotel, Dyce. Firmly fixed as the venue for the Northeast Farming Oscars, the recipients of the prizes were extensively listed in the farming press. For the first time, the winners of the Good Farming Practice Awards were announced at the lunch. Craig and Claire Grant from Mains of Kindrought, Strichen were the rightly deserving recipients and may I thank our judge Pete Watson, Darnford, Durris for his time and knowledge in deciding the winners of what is a highly subscribed competition. A special presentation was also given to Alison Argo honouring her retirement.

December saw the Directors take to the neep parks of the North East - battling the elements they secured the results for the annual neep growing competition. The results are as follows:

THE ROYAL NORTHERN AGRICULTURAL SOCIETY (REGISTERED NUMBER: SC384324)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024

Champion in the turnip section went to first time entrant, Cairness Ltd, Home Farm, Cairness, Fraserburgh with a crop of Lomond turnips. Reserve champion going to William Ritch, East Fingask, Oldmeldrum also with a crop of Lomond. The fodder beet section saw Stewart Davidson, West Cortiecram, Mintlaw champion with a crop of Brigadier. Reserve champion was jointly won by Colin Morrison, Nether Blairmaud, Cornhill with a crop of Fielder and Arthur & Scott Duguid, North Cranna Farms, Aberchirder with their crop of Brigadier.

The 2024 Spring Show held at Thainstone on 28th February, once again proved to be highly successful. Good weather, strong livestock prices and an excuse for a great social day out resulted in a large attendance. Horse entries were up, cattle entries were as per normal and a slightly reduced number of sheep on show were the order of the day.
The trade stands and show yard benefitted from a comprehensive review carried out by Directors, Scott Mathers and Gordon Murray, it was agreed that the new layout resulted in a better platform for business and crowd flow.
For the first time in its history, the show underwent a full Health & Safety audit, conducted by two advisors from RBS Mentor Services.

Our trophy presentation night was once again held at Thainstone. Anne Bruce the new RNAS trophy convenor organised an excellent display of the societies silverware ably assisted by Fiona Davidson and other Directors. Due to a late spring and a glorious evening of weather, many of the recipients were hard at work out in the fields and there was a lower turnout than normal. The evening was kindly sponsored by Howden Insurance. A stovie supper was provided by Harry Fraser and an excellent evening was enjoyed by all attending.

The RNAS specialist Beef Event, Beef Tech 25 continued to be formulated at pace and in May a full Directors meeting was held at Home Farm, Kininmonth by kind permission of the Gall family. This meeting allowed Directors to get an idea of the plans for the event, meet the host family and get a general feel for the farm and its layout. It was announced that sponsorship of £21k had been secured to date with Kepak, McIntosh-Donald the principal sponsor putting up a figure of £10k.

In late May the RNAS received funding of £3k from the RHASS, this was secured in order to purchase an online competition and entries programme. This will further progress the RNAS down the digital road.

The Good Farming Practice open night normally held in June has been moved to October by request of the winners Craig and Claire Grant, Kindrought, Strichen. The reason for this is that by October a new grain facility will be built and be operational which will lead to a greater visitor experience on the day.

FINANCIAL REVIEW
Principal risks and uncertainties
The year to 30 April 2024 saw satisfactory financial results based on strong financial management. The Spring Show held in February 2024 was a successful event.

The Directors have considered that the most appropriate policy for investing funds is within interest bearing bank accounts for short term purposes. In addition, the company holds selected investments, particularly within unit trusts for longer term security.The Directors are pleased that the market value of investments is in excess of cost.

The Directors feel that the present level of reserves is sufficient to enable the company to undertake its charitable activities.

Financial and risk management objectives and policies
It is evident that the company requires each year to raise finance. This is an ongoing process to ensure the work of the charity continues. The excellent work done by the society and it's members in raising finance over many years has however minimised this risk.

FUTURE PLANS
The company intends to continue to hold an annual Spring Show along with other specialist events to promote good agricultural practice and to promote education of school children and young adults.


THE ROYAL NORTHERN AGRICULTURAL SOCIETY (REGISTERED NUMBER: SC384324)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Royal Northern Agricultural Society is a charitable company limited by guarantee, incorporated on 26 August 2010, The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The company is registered as a charity with the Office of Scottish Charity Regulator. Membership of the company is open to individuals and organisations who support the objectives of the company. In the event of the company being would up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees
Directors are appointed by being proposed by members of the Board. The Board of Directors of the company consists of persons, all whom are members of the company.

Directors are given an initial briefing by the chair and company secretary to familiarise themselves with the role of a Board member. Director's training is ongoing throughout the year.

The company currently has a Board consisting of 9 members. The Board meets regularly throughout the year to manage all aspects of the company, with the company secretary in attendance at the Board meetings but having no voting rights, The Board appoints a convener to take control when special events are organised.

The key personnel are considered to be the directors who do not receive any remuneration.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC384324 (Scotland)

Registered Charity number
SCO41765

Registered office
Kirkton
Mintlaw
Peterhead
Aberdeenshire
AB42 4HZ

Trustees
Miss J O Anderson (resigned 1.10.23)
Mr R W Blackhall
Mr D A Cumming
Mr J S Dick
Mr R B Newlands
Mr J Sim (resigned 1.10.23)
Mr W P Stewart
Mr J Telfer
Mr K J Walker
Mr J C MacIver
Mr B Ross (appointed 1.10.23)

Company Secretary
Mrs F E Davidson

Independent Examiner
Susan M Hepburn CA ATT
Leiper & Summers
4 Charlotte Street
Fraserburgh
Aberdeenshire
AB43 9JE

THE ROYAL NORTHERN AGRICULTURAL SOCIETY (REGISTERED NUMBER: SC384324)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024


Approved by order of the board of trustees on 12 December 2024 and signed on its behalf by:





Mr D A Cumming - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE ROYAL NORTHERN AGRICULTURAL SOCIETY

I report on the accounts for the year ended 30 April 2024 set out on pages seven to sixteen.

Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement
In connection with my examination, no matter has come to my attention :

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.








Susan M Hepburn CA ATT
The Institute of Chartered Accountants of Scotland

Leiper & Summers
4 Charlotte Street
Fraserburgh
Aberdeenshire
AB43 9JE

Date: .............................................

THE ROYAL NORTHERN AGRICULTURAL SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Unrestricted Total
funds funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Charitable activities
Spring Show 92,534 85,874
Annual Award Scheme 13,217 14,301
Donations 45 50
175th Anniversary Dinner - 14,830
Countryside Live - 80,540
Good Farming Practice 2,000 2,000

Investment income 2 4,883 4,137
Other income 3 3,888 5,003
Total 116,567 206,735

EXPENDITURE ON
Charitable activities
Spring Show 67,895 58,982
Annual Award Scheme 10,188 13,922
Donations 6,260 10,039
175th Anniversary Dinner - 13,013
Countryside Live - 79,327
Good Farming Practice 2,019 910

Other 44,873 27,787
Total 131,235 203,980

Net gains/(losses) on investments 14,798 (4,838 )

NET INCOME/(EXPENDITURE) 130 (2,083 )


RECONCILIATION OF FUNDS
Total funds brought forward 300,471 302,554

TOTAL FUNDS CARRIED FORWARD 300,601 300,471

THE ROYAL NORTHERN AGRICULTURAL SOCIETY (REGISTERED NUMBER: SC384324)

BALANCE SHEET
30 APRIL 2024

2024 2023
Unrestricted Total
funds funds
Notes £    £   
FIXED ASSETS
Tangible assets 7 21,354 -
Investments 8 259,342 242,770
280,696 242,770

CURRENT ASSETS
Stocks 9 1,223 1,265
Debtors 10 27,231 27,107
Cash at bank 24,767 86,619
53,221 114,991

CREDITORS
Amounts falling due within one year 11 (33,316 ) (57,290 )

NET CURRENT ASSETS 19,905 57,701

TOTAL ASSETS LESS CURRENT
LIABILITIES

300,601

300,471

NET ASSETS 300,601 300,471
FUNDS 12
Unrestricted funds 300,601 300,471
TOTAL FUNDS 300,601 300,471

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 ROYAL NORTHERN AGRICULTURAL SOCIETY (REGISTERED NUMBER: SC384324)

BALANCE SHEET - continued
30 APRIL 2024

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 12 December 2024 and were signed on its behalf by:





Mr D A Cumming - Trustee

THE ROYAL NORTHERN AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulation 2006 (as amended) and "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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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 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.

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 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.

All costs are allocated to expenditure categories reflecting the use of the resource.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Plant and machinery - 25% on reducing balance and 5% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

THE ROYAL NORTHERN AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

1. ACCOUNTING POLICIES - continued

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments and original maturities of three months or less.

Financial Instruments
A financial asset or liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Where investments in shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Limited by guarantee
There is no share capital. The company is limited by guarantee not exceeding £1 per member. At 30 April 2024 there were 9 members.

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.

2. INVESTMENT INCOME
2024 2023
£    £   
Income from listed investments 4,447 3,584
Bank account interest 436 553
4,883 4,137

3. OTHER INCOME
2024 2023
£    £   
Growing Cereal Competition 811 397
Memberships 2,485 3,426
Growing Turnip Competition 592 155
Sponsorship - 1,000
Other income - 25
3,888 5,003


THE ROYAL NORTHERN AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. NET INCOME/(EXPENDITURE)

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

2024 2023
£    £   
Depreciation - owned assets 455 -

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023.


6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£   
INCOME AND ENDOWMENTS FROM
Charitable activities
Spring Show 85,874
Annual Award Scheme 14,301
Donations 50
175th Anniversary Dinner 14,830
Countryside Live 80,540
Good Farming Practice 2,000

Investment income 4,137
Other income 5,003
Total 206,735

EXPENDITURE ON
Charitable activities
Spring Show 58,982
Annual Award Scheme 13,922
Donations 10,039
175th Anniversary Dinner 13,013
Countryside Live 79,327
Good Farming Practice 910

Other 27,787
Total 203,980

Net gains/(losses) on investments (4,838 )

NET INCOME/(EXPENDITURE) (2,083 )


THE ROYAL NORTHERN AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£   

RECONCILIATION OF FUNDS
Total funds brought forward 302,554

TOTAL FUNDS CARRIED FORWARD 300,471

7. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
Additions 21,809
DEPRECIATION
Charge for year 455
NET BOOK VALUE
At 30 April 2024 21,354
At 30 April 2023 -

8. FIXED ASSET INVESTMENTS
2024 2023
£    £   
Shares 239,342 222,770
Other 20,000 20,000
259,342 242,770

Additional information as follows:

Listed
investments
£   
MARKET VALUE
At 1 May 2023 222,770
Additions 36,308
Disposals (31,200 )
Revaluations 11,464
At 30 April 2024 239,342
NET BOOK VALUE
At 30 April 2024 239,342
At 30 April 2023 222,770

There were no investment assets outside the UK.

All listed investments shown above are held at valuation based on the market value at the year end.

THE ROYAL NORTHERN AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. FIXED ASSET INVESTMENTS - continued


Investments (neither listed nor unlisted) were as follows:

2024 2023
£    £   
Other investments 20,000 20,000

9. STOCKS
2024 2023
£    £   
Stocks 1,223 1,265

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 27,231 27,107

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 29,311 38,528
Accrued expenses 4,005 18,762
33,316 57,290

12. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.5.23 in funds funds 30.4.24
£    £    £    £   
Unrestricted funds
General fund 202,749 (11,941 ) 16,787 207,595
Endowment Prize Fund 995 - (995 ) -
North of Scotland Pig Producers Fund 15,185 607 (15,792 ) -
Revaluation Reserve 81,542 11,464 - 93,006
300,471 130 - 300,601
TOTAL FUNDS 300,471 130 - 300,601

THE ROYAL NORTHERN AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

12. MOVEMENT IN FUNDS - continued

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 115,960 (131,235 ) 3,334 (11,941 )
North of Scotland Pig Producers Fund 607 - - 607
Revaluation Reserve - - 11,464 11,464
116,567 (131,235 ) 14,798 130
TOTAL FUNDS 116,567 (131,235 ) 14,798 130


Comparatives for movement in funds

Net
movement At
At 1.5.22 in funds 30.4.23
£    £    £   
Unrestricted funds
General fund 202,461 288 202,749
Endowment Prize Fund 995 - 995
North of Scotland Pig Producers Fund 14,714 471 15,185
Revaluation Reserve 84,384 (2,842 ) 81,542
302,554 (2,083 ) 300,471
TOTAL FUNDS 302,554 (2,083 ) 300,471

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 206,264 (203,980 ) (1,996 ) 288
North of Scotland Pig Producers Fund 471 - - 471
Revaluation Reserve - - (2,842 ) (2,842 )
206,735 (203,980 ) (4,838 ) (2,083 )
TOTAL FUNDS 206,735 (203,980 ) (4,838 ) (2,083 )

THE ROYAL NORTHERN AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

12. MOVEMENT IN FUNDS - continued

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

Net Transfers
movement between At
At 1.5.22 in funds funds 30.4.24
£    £    £    £   
Unrestricted funds
General fund 202,461 (11,653 ) 16,787 207,595
Endowment Prize Fund 995 - (995 ) -
North of Scotland Pig Producers Fund 14,714 1,078 (15,792 ) -
Revaluation Reserve 84,384 8,622 - 93,006
302,554 (1,953 ) - 300,601
TOTAL FUNDS 302,554 (1,953 ) - 300,601

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 322,224 (335,215 ) 1,338 (11,653 )
North of Scotland Pig Producers Fund 1,078 - - 1,078
Revaluation Reserve - - 8,622 8,622
323,302 (335,215 ) 9,960 (1,953 )
TOTAL FUNDS 323,302 (335,215 ) 9,960 (1,953 )

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 April 2024.