IRIS Accounts Production v24.3.2.46 Other Company accounts True false Pounds 1.1.24 31.12.24 31.12.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true true false true false false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3499762023-12-31SC3499762024-12-31SC3499762024-01-012024-12-31SC3499762022-12-31SC3499762023-01-012023-12-31SC3499762023-12-31SC349976ns0:CharitableCompanyLimitedByGuarantee2024-01-012024-12-31SC349976ns15:PoundSterling2024-01-012024-12-31SC349976ns11:FRS1022024-01-012024-12-31SC349976ns11:IndependentExaminationCharity2024-01-012024-12-31SC349976ns11:SmallCompaniesRegimeForAccounts2024-01-012024-12-31SC349976ns11:FullAccounts2024-01-012024-12-31SC349976ns11:CharitiesSORP2024-01-012024-12-31SC349976ns16:EnglandWales2024-01-012024-12-31SC349976ns11:RegisteredOffice2024-01-012024-12-31SC349976ns0:Trustee22024-01-012024-12-31SC349976ns0:Trustee12024-01-012024-12-31SC349976ns0:Trustee32024-01-012024-12-31SC349976ns0:Trustee42024-01-012024-12-31SC349976ns11:CompanySecretary12024-01-012024-12-31SC349976ns0:Activity82024-01-012024-12-31SC349976ns0:Activity82023-01-012023-12-31SC349976ns10:WithinOneYear2024-12-31SC349976ns10:WithinOneYear2023-12-31SC349976ns0:TotalUnrestrictedFunds2024-12-31SC34997622024-01-012024-12-31SC34997632024-01-012024-12-31SC34997612024-01-012024-12-31SC34997612023-01-012023-12-31SC349976ns10:OwnedAssets2024-01-012024-12-31SC349976ns10:OwnedAssets2023-01-012023-12-31SC349976ns10:PlantMachinery2023-12-31SC349976ns10:ComputerEquipment2023-12-31SC349976ns10:PlantMachinery2024-01-012024-12-31SC349976ns10:ComputerEquipment2024-01-012024-12-31SC349976ns10:PlantMachinery2024-12-31SC349976ns10:ComputerEquipment2024-12-31SC349976ns10:PlantMachinery2023-12-31SC349976ns10:ComputerEquipment2023-12-31
REGISTERED COMPANY NUMBER: SC349976 (Scotland)
REGISTERED CHARITY NUMBER: SC010703














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

STEWARTRY AGRICULTURAL SOCIETY

STEWARTRY AGRICULTURAL SOCIETY

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










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

STEWARTRY AGRICULTURAL SOCIETY (REGISTERED NUMBER: SC349976)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 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 31 December 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 aims
Our purpose, by use of education, is to promote agriculture and rural pursuits in the Stewartry, including the improvement of livestock and the holding of an annual show.

Volunteers
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).

ACHIEVEMENT AND PERFORMANCE
Charitable activities
2024 was our second Saturday show, online entering seems to have now been better received and is working well. Payment card machines have had further trialling and should be running at full capacity for 2025 show. Gate numbers up - entries plus and minus in some sections but in line with other agricultural shows. Highland show grant success was an excellent opportunity to purchase crowd control barriers and made set up of show much more efficient. Young handling sections were well supported with our online entry system working well but with facility to take postal entries from those wishing to do so.

Supplier costs always need looking at, some marginal increases but we feel we keep a close eye and monitor them.

RSABI auction was a great success raising £2,703, all due to generosity of local companies.

We all look forward to 2025 show, our show field will look well, and we welcome all our exhibitors, public and trade stands.

FINANCIAL REVIEW
Reserves policy
The Society aim to hold sufficient reserves to enable them to hold future annual shows should there be a significant drop in income in a year, or in case an annual show is unable to go ahead. The balance of the Society's unrestricted reserves was £73,915 at the balance sheet date. The surplus for the charity for the year was £4,541.

The Society held no Restricted or Endowment Funds during the period.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a limited company, limited by guarantee, as defined by the Companies Act 2006 and is governed by its Memorandum and Articles of Association.

Recruitment and appointment of new trustees
All of the society's trustees are appointed or reappointed by members at our annual general meeting, which is held in February each year.

There is a committee of 41 members who support the trustees in the organisation of the Stewartry Show.

The main office bearers are the trustees.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC349976 (Scotland)


STEWARTRY AGRICULTURAL SOCIETY (REGISTERED NUMBER: SC349976)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024


Registered Charity number
SC010703

Registered office
c/o Ms M K Carson
3 Grange Cottages
Grange Farm
CASTLE DOUGLAS
DG7 3EU

Trustees
I Smith (resigned 12/2/25)
D J G Corrie
Ms C McMiken
Ms J K Picken (appointed 12/2/25)

Company Secretary
Ms M K Carson

Independent Examiner
Elisabeth Gray MA CA
Bell Ogilvy
Chartered Accountants
36 King Street
Castle Douglas
Dumfries & Galloway
DG7 1AF

Approved by order of the board of trustees on 3 April 2025 and signed on its behalf by:





D J G Corrie - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
STEWARTRY AGRICULTURAL SOCIETY



I report on the accounts for the year ended 31 December 2024 set out on pages four to eleven.

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.








Elisabeth Gray MA CA
The Institute of Chartered Accountants of Scotland

Bell Ogilvy
Chartered Accountants
36 King Street
Castle Douglas
Dumfries & Galloway
DG7 1AF

4 April 2025

STEWARTRY AGRICULTURAL SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Unrestricted Total
funds funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 12,912 4,440

Other trading activities 2 37,624 42,232
Investment income 3 246 56
Total 50,782 46,728

EXPENDITURE ON
Charitable activities
Show day expenses 46,241 42,326

NET INCOME 4,541 4,402


RECONCILIATION OF FUNDS
Total funds brought forward 69,374 64,972

TOTAL FUNDS CARRIED FORWARD 73,915 69,374

STEWARTRY AGRICULTURAL SOCIETY (REGISTERED NUMBER: SC349976)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Unrestricted Total
funds funds
Notes £    £   
FIXED ASSETS
Tangible assets 8 19,434 1,987

CURRENT ASSETS
Debtors 9 - 650
Cash at bank and in hand 55,081 67,337
55,081 67,987

CREDITORS
Amounts falling due within one year 10 (600 ) (600 )

NET CURRENT ASSETS 54,481 67,387

TOTAL ASSETS LESS CURRENT
LIABILITIES

73,915

69,374

NET ASSETS 73,915 69,374
FUNDS 11
Unrestricted funds 73,915 69,374
TOTAL FUNDS 73,915 69,374

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.


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


STEWARTRY AGRICULTURAL SOCIETY (REGISTERED NUMBER: SC349976)

BALANCE SHEET - continued
31 DECEMBER 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 3 April 2025 and were signed on its behalf by:





D J G Corrie - Trustee

STEWARTRY AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


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.

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

the requirements of Section 7 Statement of Cash Flows.

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.



Plant and machinery - 10% reducing balance
Computer equipment - 33.33% reducing balance
The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

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 where applicable.


STEWARTRY AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


1. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short term high liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the organisation does not have conditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are represented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of financial activities over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the organisation has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

2. OTHER TRADING ACTIVITIES
2024 2023
£    £   
Show income 36,609 41,792
Membership fees 1,015 440
37,624 42,232

3. INVESTMENT INCOME
2024 2023
£    £   
Deposit account interest 246 56


STEWARTRY AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. NET INCOME/(EXPENDITURE)

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

2024 2023
£    £   
Depreciation - owned assets - 225

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.


TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.


6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 4,440

Other trading activities 42,232
Investment income 56
Total 46,728

EXPENDITURE ON
Charitable activities
Show day expenses 42,326

NET INCOME 4,402


RECONCILIATION OF FUNDS
Total funds brought forward 64,972

TOTAL FUNDS CARRIED FORWARD 69,374


STEWARTRY AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


7. FUNDS

The Society held no Restricted or Endowment Funds during the period.

8. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2024 3,348 610 3,958
Additions 17,447 - 17,447
At 31 December 2024 20,795 610 21,405
DEPRECIATION
At 1 January 2024 and
31 December 2024

1,371

600

1,971

NET BOOK VALUE
At 31 December 2024 19,424 10 19,434
At 31 December 2023 1,977 10 1,987

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 650

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Accrued expenses 600 600

11. MOVEMENT IN FUNDS
Net
movement At
At 1.1.24 in funds 31.12.24
£    £    £   
Unrestricted funds
General fund 69,374 4,541 73,915

TOTAL FUNDS 69,374 4,541 73,915

STEWARTRY AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


11. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 50,782 (46,241 ) 4,541

TOTAL FUNDS 50,782 (46,241 ) 4,541


Comparatives for movement in funds

Net
movement At
At 1.1.23 in funds 31.12.23
£    £    £   
Unrestricted funds
General fund 64,972 4,402 69,374

TOTAL FUNDS 64,972 4,402 69,374

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 46,728 (42,326 ) 4,402

TOTAL FUNDS 46,728 (42,326 ) 4,402

12. RELATED PARTY DISCLOSURES

Ian Smith, trustee & President, is also a director/owner of James Smith Fencing Limited and partner in Smith & Curtis, from whom purchases of £14,887.68 were made in the year.