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REGISTERED COMPANY NUMBER: 02370986 (England and Wales)
REGISTERED CHARITY NUMBER: 1007948














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
02370986 (England and Wales)


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
1007948

Registered office
4 The Old Carthouses
Broadlands
Romsey
Hampshire
SO51 9LQ

Trustees
R D Brooks
R N Butler (resigned 1.7.24)
M A P Carder
R M Corbin
J P Corbin
R J Foord
D Hallett (appointed 5.1.24)
R S Harper-Adams
M Hartas
S A Hillman
G P Holmes
J A Kell
S M Kibbey
J Long
P J Mcvean
R F Monk
M J Rawson Smith
C Riley (appointed 4.7.24)
S Rowlandson
N V Welch

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
TSB PLC
6 Market Place
Romsey
Hampshire
SO51 8YS

Approved by order of the board of trustees on 12 February 2025 and signed on its behalf by:





N V Welch - Trustee

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 11,538 - 11,538 12,315

Charitable activities 4
Romsey show 312,021 - 312,021 257,871

Investment income 3 8,084 - 8,084 8,942
Total 331,643 - 331,643 279,128

EXPENDITURE ON
Raising funds
Raising donations and legacies 5 - - - 27
Investment management costs 6 3,668 - 3,668 2,926
3,668 - 3,668 2,953

Charitable activities 7
Romsey show 317,963 - 317,963 293,983
Total 321,631 - 321,631 296,936

Net gains on investments 29,762 - 29,762 19,835

NET INCOME 39,774 - 39,774 2,027
Other recognised gains/(losses)
Gains/(losses) on revaluation of fixed assets 20,457 - 20,457 (11,035 )
Net movement in funds 60,231 - 60,231 (9,008 )

RECONCILIATION OF FUNDS
Total funds brought forward 348,233 141,065 489,298 498,306

TOTAL FUNDS CARRIED FORWARD 408,464 141,065 549,529 489,298

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 13 751 - 751 655
Heritage assets 14 - 141,065 141,065 141,065
Investments 15 350,798 - 350,798 300,579
351,549 141,065 492,614 442,299

CURRENT ASSETS
Debtors 16 6,788 - 6,788 9,142
Cash at bank and in hand 73,309 - 73,309 62,834
80,097 - 80,097 71,976

CREDITORS
Amounts falling due within one year 17 (17,312 ) - (17,312 ) (19,962 )

NET CURRENT ASSETS 62,785 - 62,785 52,014

TOTAL ASSETS LESS CURRENT
LIABILITIES

414,334

141,065

555,399

494,313

CREDITORS
Amounts falling due after more than one year 18 (5,870 ) - (5,870 ) (5,015 )

NET ASSETS 408,464 141,065 549,529 489,298
FUNDS 19
Unrestricted funds 408,464 348,233
Restricted funds 141,065 141,065
TOTAL FUNDS 549,529 489,298

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 12 February 2025 and were signed on its behalf by:





N V Welch - Trustee

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 - 33% on cost
Fixtures and fittings - 33% on cost

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 382 300
Subscriptions 6,806 8,652
Farm walk & competition 130 380
Winter Fayre 3,220 2,983
Hampshire Farms competition 1,000 -
11,538 12,315

3. INVESTMENT INCOME
31.10.24 31.10.23
£    £   
Income from listed investments 7,384 8,267
Deposit account interest 700 675
8,084 8,942

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 1,030 534

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 39,792 16,818
Other pension costs 1,431 1,007
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 1 1

No employees received emoluments in excess of £60,000.


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 12,315 - 12,315

Charitable activities
Romsey show 257,871 - 257,871

Investment income 8,942 - 8,942
Total 279,128 - 279,128

EXPENDITURE ON
Raising funds
Raising donations and legacies 27 - 27
Investment management costs 2,926 - 2,926
2,953 - 2,953

Charitable activities
Romsey show 293,983 - 293,983
Total 296,936 - 296,936

Net gains on investments 19,835 - 19,835

NET INCOME 2,027 - 2,027
Other recognised gains/(losses)
Gains/(losses) on revaluation of fixed assets (27,710 ) 16,675 (11,035 )
Net movement in funds (25,683 ) 16,675 (9,008 )

RECONCILIATION OF FUNDS
Total funds brought forward 373,916 124,390 498,306

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 9,087 21,549 30,636
Additions - 1,126 1,126
At 31 October 2024 9,087 22,675 31,762
DEPRECIATION
At 1 November 2023 9,087 20,894 29,981
Charge for year - 1,030 1,030
At 31 October 2024 9,087 21,924 31,011
NET BOOK VALUE
At 31 October 2024 - 751 751
At 31 October 2023 - 655 655

14. HERITAGE ASSETS
Total
£   
MARKET VALUE
At 1 November 2023 and 31 October 2024 141,065
NET BOOK VALUE
At 31 October 2024 141,065
At 31 October 2023 141,065

15. FIXED ASSET INVESTMENTS
Listed
investments
£   
MARKET VALUE
At 1 November 2023 300,579
Additions 265,992
Disposals (236,230 )
Revaluations 20,457
At 31 October 2024 350,798
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 683 996
Other debtors 801 3,797
Prepayments and accrued income 5,304 4,349
6,788 9,142

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 5,027 7,520
Other creditors 7,069 6,552
Accruals and deferred income 5,216 5,890
17,312 19,962


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 5,870 5,015

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
348,233 60,231 408,464
Restricted funds
Restricted Funds 141,065 - 141,065

TOTAL FUNDS 489,298 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
331,643 (321,631 ) 50,219 60,231
TOTAL FUNDS 331,643 (321,631 ) 50,219 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.