Charity registration number 1135686
Company registration number 06796428 (England and Wales)
BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
A J Chapman
D J Maxwell
J E Mount
W J Young
P Clarke
M D Marlow
Charity number
1135686
Company number
06796428
Registered office
Ireland & Company
10 Station Street
Kibworth
Leicestershire
LE8 0LN
Independent examiner
Ireland & Company
Unit 2
Nursery Court
Kibworth Harcourt
Leics
LE8 0EX
BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
CONTENTS
Page
Trustees' report
1 - 3
Statement of trustees' responsibilities
4
Statement of financial activities
6
Balance sheet
7
Notes to the financial statements
8 - 15
BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 30 September 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deeds, the Companies Act 2006 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 of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The charity's objects are:

 

To promote and advance for the benefit of the public agriculture, horticulture and rural crafts and skills in all their branches by the improvement of livestock and the demonstration and showing of livestock, machinery, drafts, products, methods and processes connected with agriculture and agricultural education in particular through the holding of shows.

 

To make such grants and donations to such registered charities as the trustees see fit.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The board of directors and trustees were pleased with the results of another successful show which generated record levels of income. The show generated sufficient funds to allow for the trustees to set aside a sum of £16,000 to be allocated to charitable causes. In addition, a sum of £4,000 has been reserved as a restricted fund to provide bursaries for education in agriculture.

Financial review

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates approximately to the overall fixed costs of the following annual show.

 

The closing unrestricted funds of £40,489 are considered sufficient to cover ongoing costs and the fixed costs for next year’s show.

Under the Memorandum and Articles of Association, the charity has the power to invest funds in any way the trustees are agreed on.

The trustees have examined the major strategic, business and operational risks which the charity faces and confirm systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

 

All section leaders complete risk assessments and trained stewards are present at all activities. This remains under constant review.

BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
Structure, governance and management

The charity has been set up as a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 20 January 2009 as amended by a resolution dated 19 March 2010. It is a registered charity with the Charity Commission with a registered number 1135686.

 

Membership is open to all individuals who in the opinion of the Council are desirable persons to be admitted. Each member agrees to contribute £10 in the event of the charity winding up.

 

BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

A J Chapman
D J Maxwell
J E Mount
W J Young
P Clarke
M D Marlow

The charity may by ordinary resolution appoint a director or the directors may appoint a director. At each annual general meeting one third of the directors must retire from office. The directors manage the business of the charity.

 

Risk policy

The trustees have examined the major strategic, business and operational risks which the charity faces and confirm systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

All section leaders complete risk assessments and trained stewards are present at all activities. This remains under constant review.

The trustees' report was approved by the Board of Trustees.

W J Young
Trustee
Dated: 18 November 2024
BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -

The trustees, who are also the directors of Blaston & District Agricultural Show Society for the purpose 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 year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that 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.

BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
- 5 -

I report to the trustees on my examination of the financial statements of Blaston & District Agricultural Show Society (the charity) for the year ended 30 September 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements 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 financial statements 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 financial statements to be reached.

J. W. Ireland FCA
Unit 2
Nursery Court
Kibworth Harcourt
Leics
LE8 0EX
Dated: 2 December 2024
BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
Unrestricted
Unrestricted
Total
Total
funds
funds
general

designated

2024
2024
2024
2023
Notes
£
£
£
£
Income from:
Donations and legacies
2
64
-
64
128
Charitable activities
3
88,212
-
88,212
71,518
Other trading activities
4
4,936
-
4,936
3,900
Total income
93,212
-
93,212
75,546
Expenditure on:
Raising funds
5
21,343
-
21,343
18,589
Charitable activities
6
63,667
-
63,667
54,240
Total resources expended
85,010
-
85,010
72,829
Net incoming resources before transfers
8,202
-
8,202
2,717
Gross transfers between funds
(4,000)
4,000
-
-
Net income for the year/
Net movement in funds
4,202
4,000
8,202
2,717
Fund balances at 1 October 2023
36,287
-
36,287
33,570
Fund balances at 30 September 2024
40,489
4,000
44,489
36,287

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
563
1,184
Current assets
Stocks
12
1,455
1,858
Debtors
13
1,356
1,900
Cash at bank and in hand
59,557
43,095
62,368
46,853
Creditors: amounts falling due within one year
14
(18,442)
(11,750)
Net current assets
43,926
35,103
Total assets less current liabilities
44,489
36,287
Income funds
Unrestricted funds - designated
4,000
-
Unrestricted funds - general
40,489
36,287
44,489
36,287

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 18 November 2024
W J Young
Trustee
Company registration number 06796428
BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
1
Accounting policies
Charity information

Blaston & District Agricultural Show Society is a private company limited by guarantee incorporated in England and Wales. The registered office is Ireland & Company, 10 Station Street, Kibworth, Leicestershire, LE8 0LN.

1.1
Accounting convention

The accounts have been prepared in accordance with the charity's governing documents the Companies Act 2006 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 of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The accounts 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. The principal accounting policies adopted are set out below.

1.2
Going concern

The trustees are confident 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.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Incoming resources

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.

 

1.5
Resources expended

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.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 9 -
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
33% per annum of cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Stocks
Stocks are stated at the lower of cost and net realisable value.
1.9
Cash and cash equivalents

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

1.10
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 10 -
Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2
Donations and legacies
Unrestricted
Unrestricted
funds
funds
general
general
2024
2023
£
£
Donations and gifts
64
128
BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 11 -
3
Charitable activities

Friday night event income

Show entries

Gate entry takings

Show bar and lunch takings

Sponsorships and advertising

Trade stands

Total
2024
Total
2023
£
£
£
£
£
£
£
£
Sales within charitable activities
2,863
4,308
39,610
12,668
14,870
13,893
88,212
71,518
BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 12 -
4
Other trading activities
Unrestricted
Unrestricted
funds
funds
general
general
2024
2023
£
£
Membership subscriptions and sponsorships which are in substance a payment for goods and services
4,936
3,900
5
Raising funds
2024
2023
£
£
Governance costs
21,343
18,589
21,343
18,589
6
Charitable activities
2024
2023
£
£
Bar purchases
6,372
6,935
Friday night costs
841
599
First aid costs
1,900
798
Prize money
1,287
1,490
Hire of plant & equipment
21,370
21,570
Show lunches
3,804
3,150
Entertainment and licences
5,249
3,316
Rosettes and badges
1,760
1,493
Show materials
5,084
3,439
Donations
16,000
11,450
63,667
54,240
BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 13 -
7
Governance costs
Governance costs
2024
2023
£
£
£
Bank charges
652
652
422
Depreciation
779
779
779
Professional fees
300
300
-

Secretarial assistance

2,400
2,400
2,400

Printing and stationery

4,018
4,018
3,681

Computer costs

3,174
3,174
250

General office expenses

1,820
1,820
1,027

Marketing

3,399
3,399
3,114
Insurances
1,804
1,804
2,150
18,589
18,589
18,539
Professional fees includes payments to Ireland & Company (Chartered Acountants) of £300 (2022 - £Nil) for independent examiner fees.
8
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
10
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 14 -
11
Tangible fixed assets
Plant and machinery
£
Cost
At 1 October 2023
10,928
Additions
537
Disposals
(200)
At 30 September 2024
11,265
Depreciation and impairment
At 1 October 2023
9,744
Depreciation charged in the year
958
At 30 September 2024
10,702
Carrying amount
At 30 September 2024
563
At 30 September 2023
1,184
12
Stocks
2024
2023
£
£
Finished goods and goods for resale
1,455
1,858
13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
956
1,000
Prepayments and accrued income
400
900
1,356
1,900
14
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Deferred income
15
30
-
Other creditors
18,412
11,750
18,442
11,750
BLASTON & DISTRICT AGRICULTURAL SHOW SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 15 -
15
Deferred income
2024
2023
£
£
Arising from bookings in advance
30
-

Deferred income is included in the financial statements as follows:

2024
2023
£
£
Deferred income is included within:
Current liabilities
30
-
Movements in the year:
Deferred income at 1 October 2023
-
30
Resources deferred in the year
30
(30)
Deferred income at 30 September 2024
30
-
16
Analysis of net assets between funds
Unrestricted funds
Designated funds
Total
Unrestricted funds
2024
2024
2024
2023
£
£
£
£
Fund balances at 30 September 2024 are represented by:
Tangible assets
563
-
563
1,184
Current assets/(liabilities)
39,926
4,000
43,926
35,103
40,489
4,000
44,489
36,287
17
Related party transactions

During the year surplus bar stock valued at £956 was transferred to a trustee. This amount remains outstanding at the year end.

                                

 

 

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