| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31 October 2024 |
| for |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31 October 2024 |
| for |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2024 |
| Page |
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Statement of Financial Position | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 17 |
| The Romsey Agricultural and Horse Show |
| Society Limited (Registered number: 02370986) |
| Report of the Trustees |
| for the Year Ended 31 October 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 October 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 |
| The charitable company is a single organisation and not part of a group. The objects for which the charitable company is established are: to promote agriculture, forestry, horticulture, allied industries, rural crafts, the breeding of livestock, including horses, and to encourage skill and industry in such enterprises and to hold in pursuance of its main objects an annual agricultural show, provided that the charitable company shall not be obliged to hold a show in any year in which the holding of such a show is impracticable or not in the interests of the charitable company. |
| The main activity undertaken to fulfil these objectives is the holding of the annual show, promoting and exhibiting the listed activities to the general public; this also serves as our main fundraising event. The partnership between Romsey Agricultural & Horse Show Society and Hampshire Farmers Club ceased during the year and an agreed amount of £1,000 was received in lieu of this. |
| The charitable company is very dependent, in running the Show, on the voluntary help of a great number of people, both members and non-members and local community groups, actually on the day and in all preparatory phases leading up to Show Day. |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| In pursuant of its Charitable Activities, the Society held its annual show on 14th September 2024. Despite a wet start to the set-up period, the weather gradually improved and for show week, including the show day and the breakdown week post-show our volunteers and contractors enjoyed near perfect conditions. Show day ran smoothly and the post-show feedback was positive. |
| In November the society held its fourth Winter Fayre which was once again very successful. The Crosfield Hall was busy all day with visitors as we welcomed local traders selling their wares. The social events group are already planning next year's event for Friday 14th November 2025. |
| FINANCIAL REVIEW |
| Financial position |
| It is a policy of the charitable company that unrestricted funds should be maintained at a level to ensure that should the charity cease trading there will be sufficient funds to ensure all creditors are paid. At the balance sheet date, the charitable company's funds were £549,529 (2023: £489,298) and unrestricted funds, excluding the revaluation reserve were £386,839 (2023: £347,065). This latter figure represents one year's worth of normal expenditure, and the trustees continue to consider ways to increase reserves in the future. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| The liability of individual members is limited to £1. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| The Romsey Agricultural and Horse Show |
| Society Limited (Registered number: 02370986) |
| Report of the Trustees |
| for the Year Ended 31 October 2024 |
| Registered Charity number |
| Registered office |
| Trustees |
| Patron | The Rt. Hon. The Countess Mountbatten of Burma |
| President | Mr J Greenwood & Miss J Long |
| Chair | Mr N Welch |
| Vice-chair | Vacant |
| Secretary | Mrs A Morson |
| Treasurer | Mr D Hallett |
| Independent Examiner |
| Richard Pike AAT |
| Tradewinds Accounting Services Limited |
| 14 Marshall Road |
| Ampfield |
| Romsey |
| Hampshire |
| SO51 0DQ |
| The Romsey Agricultural and Horse Show |
| Society Limited (Registered number: 02370986) |
| Report of the Trustees |
| for the Year Ended 31 October 2024 |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Bankers |
| Romsey |
| Hampshire |
| SO51 8YS |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| I report to the charitable company's trustees on my examination of the accounts of the charitable company for the year ended 31 October 2024. |
| Responsibilities and basis of report |
| As the charitable company's trustees (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). |
| Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charitable company's accounts as carried out under section 145 of the Charities Act 2011(‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. |
| Independent examiner’s statement |
| I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
| - accounting records were not kept in respect of the charitable company 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. |
| Richard Pike AAT |
| The Certified Public Accountants Association |
| Tradewinds Accounting Services Limited |
| 14 Marshall Road |
| Ampfield |
| Romsey |
| Hampshire |
| SO51 0DQ |
| 12 February 2025 |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| Statement of Financial Activities |
| (Incorporating an Income and Expenditure Account) |
| for the Year Ended 31 October 2024 |
| 31.10.24 | 31.10.23 |
| Unrestricted | Restricted | Total | Total |
| funds | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies | 2 |
| Charitable activities | 4 |
| Investment income | 3 |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Raising donations and legacies | 5 | - | - | - | 27 |
| Investment management costs | 6 | 3,668 | - | 3,668 | 2,926 |
| Charitable activities | 7 |
| Total |
| Net gains on investments |
| NET INCOME |
| Other recognised gains/(losses) |
| Gains/(losses) on revaluation of fixed assets | ( |
) |
| Net movement in funds | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 489,298 |
| The Romsey Agricultural and Horse Show |
| Society Limited (Registered number: 02370986) |
| Statement of Financial Position |
| 31 October 2024 |
| 31.10.24 | 31.10.23 |
| Unrestricted | Restricted | Total | Total |
| funds | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 13 |
| Heritage assets | 14 |
| Investments | 15 |
| CURRENT ASSETS |
| Debtors | 16 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 17 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 18 | ( |
) | ( |
) | ( |
) |
| NET ASSETS |
| FUNDS | 19 |
| Unrestricted funds | 348,233 |
| Restricted funds | 141,065 |
| TOTAL FUNDS | 489,298 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006. |
| The Romsey Agricultural and Horse Show |
| Society Limited (Registered number: 02370986) |
| Statement of Financial Position - continued |
| 31 October 2024 |
| 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. |
| 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 |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| Notes to the Financial Statements |
| for the Year Ended 31 October 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. |
| Income |
| Donations, legacies and other forms of voluntary income are recognised as income when receivable, except insofar as they are incapable of financial measurement. The charitable company holds trophies and plaques donated over many years. These trophies and plaques are included in the accounts at market value. |
| Subscriptions for one year are included in income when receivable. Life subscriptions are credited to income over a period of ten years. |
| Dividends, including the associated tax credits, are credited to the accounts when they are received. Credit is taken for interest on an accruals basis. |
| Expenditure |
| Costs of raising funds are those costs incurred in attracting donations, legacies and those incurred in trading activities that raise funds. |
| Charitable activities |
| Charitable activities include expenditure associated with staging the annual show and include both direct and indirect costs and support relating to these activities. |
| 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 | - |
| Fixtures and fittings | - |
| Inalienable assets |
| Inalienable fixed assets (Heritage assets) are capitalised and valued on a replacement cost basis. |
| 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. |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 1. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
| 2. | DONATIONS AND LEGACIES |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Donations |
| Subscriptions |
| Farm walk & competition | 130 | 380 |
| Winter Fayre | 3,220 | 2,983 |
| Hampshire Farms competition | 1,000 | - |
| 3. | INVESTMENT INCOME |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Income from listed investments | 7,384 | 8,267 |
| Deposit account interest |
| 4. | INCOME FROM CHARITABLE ACTIVITIES |
| 31.10.24 | 31.10.23 |
| Romsey | Total |
| show | activities |
| £ | £ |
| Gift Aid | 119 | 225 |
| Gate money | 185,194 | 139,251 |
| Trade stands and wifi | 42,559 | 41,430 |
| Shopping and craft marquee | 15,643 | 12,835 |
| Grants | 1,500 | 8,000 |
| Horticulture | 40 | 60 |
| Sponsorship/donations | 26,970 | 21,137 |
| Public catering | 25,887 | 21,585 |
| Entry fees | 8,650 | 7,640 |
| Premium parking | 1,215 | 1,480 |
| Show guide sales | 1,830 | 1,571 |
| Horse first aid | 474 | 625 |
| Website link | 540 | 632 |
| Fairground | 1,400 | 1,400 |
| 312,021 | 257,871 |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 5. | RAISING DONATIONS AND LEGACIES |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Farm walk and competition expenses | - | 27 |
| 6. | INVESTMENT MANAGEMENT COSTS |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Portfolio management | 3,668 | 2,926 |
| 7. | CHARITABLE ACTIVITIES COSTS |
| Direct |
| Costs (see |
| note 8) |
| £ |
| Romsey show | 317,963 |
| 8. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Staff costs | 41,223 | 17,825 |
| Rent of showground & shed | 24,200 | 23,055 |
| Insurance | 8,974 | 12,094 |
| Telephone and office expenses | 19,755 | 23,000 |
| Printing, postage & stationery | 4,195 | 3,539 |
| Professional fees | 2,422 | 1,940 |
| Other costs, including general overhead expenses | 13,424 | 29,803 |
| Public address | 11,178 | 11,691 |
| Tent hire | 31,657 | 28,541 |
| Other contractors | 110,240 | 93,943 |
| Publicity | 4,389 | 2,270 |
| Showgrounds entertainment | 9,067 | 11,488 |
| Presidents hospitality | 2,038 | 1,406 |
| Prize money and prizes | 6,776 | 6,993 |
| Rosettes and trophies | 2,940 | 1,554 |
| Winter fayre | 315 | 300 |
| Judges' expenses | 1,502 | 780 |
| Other clerical services | 23,668 | 23,761 |
| 317,963 | 293,983 |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 9. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Depreciation - owned assets |
| 10. | TRUSTEES' REMUNERATION AND BENEFITS |
| Ms S Hillman, trustee, received £21,068 (2023: £20,236) in respect of bookkeeping and other services provided during the year. |
| Mr S Rowlandson, trustee, received £1,900 (2023: £2,100) in respect of show set-up services. |
| Mrs R S Harper-Adams, trustee, received £600 (2023: £-) in respect of livestock secretarial services. |
| Trustees' expenses |
| 7 Trustees received £1,309 (2023: £1,113) for reimbursed expenditure relating to purchases made on behalf of the charity company. |
| 11. | STAFF COSTS |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Wages and salaries |
| Other pension costs |
| 41,223 | 17,825 |
| Key management personnel were paid a total of £39,792 (2023: £17,013) |
| The material difference in the period was due to the key management receiving maternity pay last year. |
| The average monthly number of employees during the year was as follows: |
| 31.10.24 | 31.10.23 |
| Administration |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| funds | fund | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Investment income |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Raising donations and legacies | 27 | - | 27 |
| Investment management costs | 2,926 | - | 2,926 |
| 2,953 | - |
| Charitable activities |
| Total |
| Net gains on investments |
| NET INCOME |
| Other recognised gains/(losses) |
| Gains/(losses) on revaluation of fixed assets | ( |
) | ( |
) |
| Net movement in funds | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 373,916 | 124,390 |
| TOTAL FUNDS CARRIED FORWARD | 348,233 | 141,065 | 489,298 |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 13. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 November 2023 |
| Additions |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 14. | HERITAGE ASSETS |
| Total |
| £ |
| MARKET VALUE |
| At 1 November 2023 and 31 October 2024 | 141,065 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 15. | FIXED ASSET INVESTMENTS |
| Listed |
| investments |
| £ |
| MARKET VALUE |
| At 1 November 2023 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 | 350,798 |
| At 31 October 2023 | 300,579 |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 15. | FIXED ASSET INVESTMENTS - continued |
| There were no investment assets outside the UK. |
| Cost or valuation at 31 October 2024 is represented by: |
| Listed |
| investments |
| £ |
| Valuation in 2024 | 20,457 |
| Cost | 330,341 |
| 350,798 |
| 16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Trade creditors |
| Other creditors |
| Accruals and deferred income |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 18. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Accruals and deferred income |
| 19. | MOVEMENT IN FUNDS |
| Net |
| At | movement | At |
| 1.11.23 | in funds | 31.10.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 347,065 | 39,774 | 386,839 |
| Revaluation | 1,168 | 20,457 | 21,625 |
| 60,231 |
| Restricted funds |
| Restricted Funds | 141,065 | - | 141,065 |
| TOTAL FUNDS | 60,231 | 549,529 |
| 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 | 331,643 | (321,631 | ) | 29,762 | 39,774 |
| Revaluation | - | - | 20,457 | 20,457 |
| ( |
) | 60,231 |
| TOTAL FUNDS | ( |
) | 60,231 |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 19. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
| Net |
| At | movement | At |
| 1.11.22 | in funds | 31.10.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 345,038 | 2,027 | 347,065 |
| Revaluation | 28,878 | (27,710 | ) | 1,168 |
| 373,916 | (25,683 | ) | 348,233 |
| Restricted funds |
| Restricted Funds | 124,390 | 16,675 | 141,065 |
| TOTAL FUNDS | 498,306 | (9,008 | ) | 489,298 |
| 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 | 279,128 | (296,936 | ) | 19,835 | 2,027 |
| Revaluation | - | - | (27,710 | ) | (27,710 | ) |
| 279,128 | (296,936 | ) | (7,875 | ) | (25,683 | ) |
| Restricted funds |
| Restricted Funds | - | - | 16,675 | 16,675 |
| TOTAL FUNDS | 279,128 | (296,936 | ) | 8,800 | (9,008 | ) |
| The Romsey Agricultural and Horse Show |
| Society Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 19. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| At | movement | At |
| 1.11.22 | in funds | 31.10.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 345,038 | 41,801 | 386,839 |
| Revaluation | 28,878 | (7,253 | ) | 21,625 |
| 373,916 | 34,548 | 408,464 |
| Restricted funds |
| Restricted Funds | 124,390 | 16,675 | 141,065 |
| TOTAL FUNDS | 498,306 | 51,223 | 549,529 |
| 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 | 610,771 | (618,567 | ) | 49,597 | 41,801 |
| Revaluation | - | - | (7,253 | ) | (7,253 | ) |
| 610,771 | (618,567 | ) | 42,344 | 34,548 |
| Restricted funds |
| Restricted Funds | - | - | 16,675 | 16,675 |
| TOTAL FUNDS | 610,771 | (618,567 | ) | 59,019 | 51,223 |
| 20. | RELATED PARTY DISCLOSURES |
| J Gray (Partner of Ms S Hillman, trustee) was paid £486 (2023: £362) in relation to grass cutting and PAT testing. These transactions were carried out at commercial rates. |