REGISTERED COMPANY NUMBER: 03780524 (England and Wales)

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

NORTH LONSDALE AGRICULTURAL SOCIETY

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

15

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 2025. 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 principal objective of the company is to improve the breed of stock and encourage home industries, improvement to tillage, the management of grasslands and other rural affairs, to organise, promote, manage, and conduct for charitable purposes only Agricultural Shows and exhibitions of all kinds. The trustees confirm that they have referred to the general guidance on public benefit issued by the Charity Commission when reviewing and planning the charity's aims and objectives.

The principal activity is the holding of the North Lonsdale Show.

The trustees confirm that they have complied with their duty under section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission and consider that the pursuit of the association's aims through the activities described above is consistent therewith.

ACHIEVEMENTS AND PERFORMANCE

Review of activities, developments and achievements

The Society was successfully able to host the show again this year on 30 July 2025. They have confirmed the next show on 29 July 2026.

Fundraising activities

The 2025 show was once again a great success. We saw around 3,800 visitors to the show which enabled us to continue showing our support to the local farming and agricultural community. With this great support shown by the general public, and valued locals, we were able to once again make a profit on the show of £8,134. This year we increased our on site attractions with the introduction of a falconry display as well as continuing the rabbit tent. We have confirmed the next years show and hope to have another successful year.

Investment policy

The Trustees are empowered by the memorandum and articles of association to invest in the name of the company, any monies not required for the immediate purposes of the association in any security permitted by law.

FINANCIAL REVIEW

Reserves policy

The Trustees consider that the most appropriate level of free unrestricted reserves should be equivalent to twelve months expenditure. At this level the Trustees believe that the Company and its objectives can be sustained in the event of at least one annual show being wiped out by very adverse weather. Free unrestricted reserves at the year-end were £106,231 (2024: £98,906), meeting the policy requirement.

FUTURE PLANS

We are fortunate to be able to secure the location for our next show. We will once again be looking to attract further trade stands and increase our corporate sponsorship.

We are still mindful of sensible budgeting and are tendering where required to ensure we are getting best value for money.

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 organisation is a charitable company limited by guarantee, incorporated on 1st June 1999 and registered as a charity on 7th April 2000. Company number: 3780524. Charity number: 1080233. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under the Articles of Association. Under those Articles, the members of the Management Committee must be approved by the trustees, and may permit any member to retire providing the remaining number of members is not less than two. At any one time there must be no less than three trustees and one third of their number must retire by rotation at each AGM. In the event of the winding up of the charitable company the liability of the members is not to exceed £10 each.

Recruitment and appointment of new trustees

The trustees are first elected at an annual general meeting by the members of the charity, in accordance with the governing document. In the event of a new trustee being required, nomination of a suitable candidate will be made by the existing trustees and the management committee. The name of the candidate(s) will then be put forward at the annual general meeting for election. No external person or body is entitled to appoint any Trustees to the Charity.

Organisational structure

The trustees who served the charity during the period were as follows:

Mr W M Towers

Mr M Wood

Mr C Tyson

Decisions on the day-to-day running of the company are taken by the Trustees and their management committee at meetings which are held between five and six times a year.

Induction and training of new trustees

Induction and training of a new trustee will be undertaken by the combined guidance of the existing trustees, the Charity's appointed legal advisor and its appointed accountants.

Risk management

The trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company and are satisfied that systems are in place to mitigate our exposure to the major risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03780524 (England and Wales)

Registered Charity number

1080233

Registered office

Robbs Waters Farm

Park Road

Barrow in Furness

Cumbria

LA14 4QP

Trustees

Mr W M Towers

Mr M Wood

Mr C Tyson

Company Secretary

Mrs L Case

Independent Examiner

J F Hornby, FCA

J F Hornby & Co

Chartered Accountants

The Tower

Daltongate Business Centre

Daltongate

Ulverston

Cumbria

LA12 7AJ

Bankers

National Westminster Bank plc

113 Dalton Road

Barrow in Furness

Cumbria

LA14 1WY

Management Committee

Chairperson:

Mr S Case

Vice-Chairperson:

Mr P Slater

Treasurer:

Miss G Halpin

Health and Safety Officer:

Mr S Case

Honorary Life Members:

Bowes J, Gleaston

Shaw G, Dalton in Furness

Wood M, Pennington

Towers W S, Newbiggin

Newton F, MRCVS, Ulverston

Case W, Plumpton

Coward M, Askam

Life Members:

Barnes F, Ulverston

Butler D, Barrow in Furness

Sharp W E, Ulverston

Shuttleworth E, Ulverston

Dawson L Mrs, Ulverston

Taylor J, Ulverston

Dawson T L, Swarthmoor

Towers W M, Aldingham

Williams D, Rampside

Tyson D, Little Urswick

Elected Members

Benson S, Pennington

Satterthwaite J W, Lindal in Furness

Brettle S, Ulverston

Satterthwaite R B, Lindal in Furness

Case S, Barrow in Furness

Sawrey E, Urswick

Case W J, Newland

Sharp J, Lindal in Furness

Crayston G, Arrad Foot

Slater P, Dalton in Furness

Cresswell B, Gleason

Stable M, Little Urswick

Crowe D, Ulverston

Stable T, Urswick

Dawson S A, Ulverston

Stephenson J, Urswick

Dennison A, Aldingham

Stephenson T, Ulverston

Dixon E, Askam

Storey L, Ulverston

Fell K J, Newbiggin

Thompson L, Swarthmoor

Halpin G, Scales

Tyson C, Great Urswick

Hodgson R F, Pennington

Waddington S A, Dalton in Furness

Hornby N, Lindal in Furness

Whalley M, Ulverston

Langhorn J, Scales

Wood A, Pennington

Morphet W, Swarthmoor

Wood G, Scales

Parker L, Dalton in Furness

Wood J, Holmrook

Postlethwaite T, Little Urswick

Hon. Solicitor

Livingstons, Ulverston

Hon. Veterinary Surgeon

McKinney Vets, Broughton-in-Furness

REPORTING ACCOUNTANTS

J F Hornby & Co will act in office as reporting accountants for the ensuing year.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 15 May 2026 and signed on its behalf by:

Mr M Wood - Trustee

Independent examiner's report to the trustees of North Lonsdale Agricultural Society ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (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 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 charity'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:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	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

4.

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.

J F Hornby, FCA

J F Hornby & Co

Chartered Accountants

The Tower

Daltongate Business Centre

Daltongate

Ulverston

Cumbria

LA12 7AJ

15 May 2026

31.10.25

31.10.24

Unrestricted

Total

funds

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

40,823

40,841

Investment income

3

728

472

Total

41,551

41,313

EXPENDITURE ON

Raising funds

4

33,566

35,007

NET INCOME

7,985

6,306

RECONCILIATION OF FUNDS

Total funds brought forward

98,096

91,790

TOTAL FUNDS CARRIED FORWARD

106,081

98,096

31.10.25

31.10.24

Unrestricted

Total

funds

funds

Notes

£

£

FIXED ASSETS

Tangible assets

9

39,351

39,529

CURRENT ASSETS

Investments

10

-

150

Cash at bank

67,162

58,832

67,162

58,982

CREDITORS

Amounts falling due within one year

11

(432

)

(415

)

NET CURRENT ASSETS

66,730

58,567

TOTAL ASSETS LESS CURRENT LIABILITIES

106,081

98,096

NET ASSETS

106,081

98,096

FUNDS

12

Unrestricted funds

106,081

98,096

TOTAL FUNDS

106,081

98,096

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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.

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 15 May 2026 and were signed on its behalf by:

Mr M Wood - Trustee

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.

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.

Land & buildings

-

in accordance with the property

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

2.	DONATIONS AND LEGACIES

31.10.25

31.10.24

£

£

Gates, programmes & subs

22,790

21,564

Trade craft and stands

11,096

11,555

Entry fees

2,543

1,926

Prize money received

1,518

612

Bar & dance surplus

2,876

5,174

Donations

-

10

40,823

40,841

3.	INVESTMENT INCOME

31.10.25

31.10.24

£

£

Deposit account interest

728

472

4.	RAISING FUNDS

Raising donations and legacies

31.10.25

31.10.24

£

£

Support costs

33,566

35,007

5.	SUPPORT COSTS

Governance

Management

Finance

Other

costs

Totals

£

£

£

£

£

Raising donations and legacies

25,069

4,516

150

3,831

33,566

Support costs, included in the above, are as follows:

31.10.25

31.10.24

Raising

donations

and

Total

legacies

activities

£

£

Marquee hire

10,122

9,702

Fitting up and rent of fields

4,278

3,952

Judges fees and prizes

6,104

5,690

Security, gatekeepers & help

-

500

Catering

-

705

Show attractions

4,565

2,485

Insurance

2,110

1,800

Repairs & renewals

145

-

Telephone

-

150

Postage and stationery

1,937

2,205

Bank charges

77

86

Licences

103

160

I.T. expenditure

144

1,335

Disposal of investments

150

-

Administrative costs

3,500

5,908

Accountancy

120

120

Legal fees

34

13

Depreciation of tangible fixed assets

177

196

33,566

35,007

6.	NET INCOME/(EXPENDITURE)

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

31.10.25

31.10.24

£

£

Depreciation - owned assets

178

194

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2025 nor for the year ended 31 October 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2025 nor for the year ended 31 October 2024.

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

40,841

Investment income

472

Total

41,313

EXPENDITURE ON

Raising funds

35,007

NET INCOME

6,306

RECONCILIATION OF FUNDS

Total funds brought forward

91,790

TOTAL FUNDS CARRIED FORWARD

98,096

9.	TANGIBLE FIXED ASSETS

Fixtures

Land &

and

Computer

buildings

fittings

equipment

Totals

£

£

£

£

COST

At 1 November 2024 and 31 October 2025

39,572

5,138

3,414

48,124

DEPRECIATION

At 1 November 2024

274

4,951

3,370

8,595

Charge for year

122

45

11

178

At 31 October 2025

396

4,996

3,381

8,773

NET BOOK VALUE

At 31 October 2025

39,176

142

33

39,351

At 31 October 2024

39,298

187

44

39,529

10.	CURRENT ASSET INVESTMENTS

31.10.25

31.10.24

£

£

Listed investments

-

150

Investments are stated at market value. Market value is the market price on the balance sheet date. Realised and unrealised gains and losses are taken to the income and expenditure account. Income has been taken into account on the due date of payment.

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Accrued expenses

432

415

12.	MOVEMENT IN FUNDS

Net

At

movement

At

1.11.24

in funds

31.10.25

£

£

£

Unrestricted funds

General fund

98,096

7,985

106,081

TOTAL FUNDS

98,096

7,985

106,081

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

41,551

(33,566

)

7,985

TOTAL FUNDS

41,551

(33,566

)

7,985

Comparatives for movement in funds

Net

At

movement

At

1.11.23

in funds

31.10.24

£

£

£

Unrestricted funds

General fund

91,790

6,306

98,096

TOTAL FUNDS

91,790

6,306

98,096

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

41,313

(35,007

)

6,306

TOTAL FUNDS

41,313

(35,007

)

6,306

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

Net

At

movement

At

1.11.23

in funds

31.10.25

£

£

£

Unrestricted funds

General fund

91,790

14,291

106,081

TOTAL FUNDS

91,790

14,291

106,081

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

82,864

(68,573

)

14,291

TOTAL FUNDS

82,864

(68,573

)

14,291

13.	RELATED PARTY DISCLOSURES

Mrs L Case, Company Secretary, received £2,200 (2024 £2,200) for administrative services.