2014 - balmoral showbalmoralshow.co.uk/pdfs/2014-annual-report-smaller.pdf · ruas annual report...

RUAS AnnUAl RepoRt 2014

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It has been a sad year for the Royal Ulster Agricultural Society. We elected a new President at the Annual Meeting last March, but alas my good friend Dr. Ernie Logan was not spared enough time to enjoy the esteemed office he had so looked forward to. As a result of his illness he was unable to preside at the Balmoral Show. Regrettably we did not see him again before his death in July. The thoughts of all our members continue to be with the Logan family.

The Balmoral Show continues to be the Society’s flagship event and the Show is officiated by a team of three, the President, Deputy President and Vice Patron. I was elevated to the position of Vice President at the Council Meeting in December 2013 and elected to the office of Deputy President at the Annual Meeting. With limited experience in this role I was ill prepared to assume a leadership role so soon. It would have been impossible to carry out the official duties without the tireless help of our Vice Patron, John Bamber.

The Balmoral Show 2014 continued the success of the inaugural Show at our new home Balmoral Park. In brilliant weather we had huge crowds, with

record breaking attendance. Indeed we had one or two comments that there was not enough room in the showgrounds for people to move freely, and this was with twice the acreage of the old site.

We were honoured by a visit from H.R.H. the Princess Royal, Princess Anne. What a privilege it was to show her around. The Princess is so knowledgeable about our industry and country life in general. It was a real pleasure to have her as a guest. The other Society activities have continued to make progress throughout the year. The Society hosted the very successful 28th Winter Fair in December 2013. Once again southern exhibitors were very well rewarded for their journey north.

At the October 2014 Council meeting I was elected to the office of President of the Society which was an unbelievable honour when I think of all the illustrious people who have precessed me.

Great progress has been made on the residential development of the lands at the rear of the King’s Hall Complex. Construction is likely begin within months. This will provide an inflow of capital funds to the Society over the next five to seven years. The Society will benefit from the recovery of the housing sector which will hopefully continue over the development period. These capital funds will enable the Society to gradually develop Balmoral Park into an international standard events park and showgrounds.

The enabling finance generated by the Society’s subsidiary, the King’s Hall Exhibition and Conference Centre Limited, continued to improve particularly the letting of the Pavilions.

Finally I would like to thank everyone, staff and members for their help to me and my wife Eileen throughout the year.

Billy RobsonPresident

Message from the President

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It was a year tinged with sadness on the death of our President particularly as he was unable to preside at the Balmoral Show. Our thoughts and prayers continue to be with Lorna and her family.

I did have concerns that the huge attendance at the first Balmoral Show at Balmoral Park would turn out to have consisted of on lookers and one-off visitors. Thankfully my concerns were unfounded and this year’s Show has built on the success of the inaugural event. The trade exhibition footprint was some 10% larger and the attendance was up some 14% - both increasing revenue. The committees took ownership of a huge range of measures to drive down costs. The result is a Balmoral Show which will be financially sustainable until capital receipts from the Harberton residential development can be invested at Balmoral Park. Perhaps more importantly the Balmoral Show has kept its traditional agricultural show pedigree while doing more than ever to promote the province’s agri-food sector.

The 2013 Winter Fair saw the addition of a third pavilion of trade exhibition space. This allowed a 23% increase in the trade exhibitor numbers resulting in an improvement in the financial situation. More importantly the event has expanded its role to promote primary agriculture. It’s now the place where innovation is demonstrated, where commercial opportunities are explored and where business gets done.

I am indebted to the many sponsors who supported our flagship events. I acknowledge and thank the members of the Society whose effort ensured the success of these events through individual support, voluntary service on committees, on Council and as stewards. I also commend the efforts of the staff, each one of whom took individual budgetary responsibility for those cost cuts.

The year ahead is an exciting prospect. We have agreed terms with a residential developer, a contract is at hand and works are expected to commence in 2015. The process to appoint a development advisor for the commercial element of the King’s Hall Complex is underway. The King’s Hall Pavilions will move to Balmoral Park over the summer with the first exhibitions taking place there in the autumn - including the 30th Royal Ulster Winter Fair.

In the longer term we are about to embark on a period of great change but the vision is as appealing as ever. With every passing year the Society’s charitable activity will increase in both measure and scope on back of enabling finance from the most exclusive development in Belfast and the premier events venue in Ireland.

Message from the Chief Executive

Colin McDonaldChief Executive


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The Royal Agricultural SocietyThe Society, founded in 1854, was incorporated in 1894 under the Educational Endowments (Ireland) Act 1885 and is accepted as a charity by the Inland Revenue (ref XN 46025).

Patron: HRH The Earl of WessexVice Patron: John Bamber BA (Hons)President: William H Robson OBE FRAgS

Past Presidents:Allen W Anderson¹, Mrs Margaret Collinson OBE, Roly Cunningham, John G Kelly OBE BAgr Dip Agr Comm FRAgS, Brian T King FRAgS, Dr Ernest F Logan BVMS PhD FSB FRCVS FRAgS², W Robin Morrow CBE FRAgS, The Lord O’Neill KCVO TD, J L Courtenay Thompson DL BA BBS Vice Presidents:Retire March 2015: John Henning, Conn Williamson, Jean Mann, Cyril M Millar Retire March 2016: Wilson Ervin3, Hubert Gabbie, Anne Mark, Sam McCauslandRetire March 2017: Wilson Logan, Robert Morrow, Walter Smyth, Billy Martin Retire March 2018: Terence McKeag, Austin Perry, Edwin Adams, Dorinda Lady Dunleath, Elected Members: The Council consists of the President, Past Presidents, Vice Presidents and the following:

Retire March 2015: Thomas John Adams, S Wallace Boyd, Libby Clarke, James Coburn, David Cunningham, Michael J Drake MBE, William Haire NSch, Robin Irvine FRAgS, Andrew B Magowan, Charles Mark, David G Mark, Robert James McConnell, Dan McCormick, Joanne M McKibbin, John McMordie, John Mercer, John B Robinson, Vanda Robinson, Michael Robson, Stefan Smyth, John W Suffern, Patricia Swandel, David Thompson, David Workman Retire March 2016: Mervyn Acheson, Crosby Cleland FRAgS, Alison Connolly, Ian Crawford, Harold Dickey, J Roy Graham, Ruth Henderson, Walter G Hoy, Brendan Kelly, Gerard Francis Kelly, Mark Logan, Ian Mark, John Martin ARAgS NSch, W Duke McCartney, Sara McCracken, Howard McIlwaine, Robert S R McKibbin, Jim McLoughlin, Roberta McMullan, James Morrison BAgr[Hons] FRAgS, Myrtle Peak, Jason Robert Rankin NSch, Wilbert Rankin, Jay Warden

Retire March 2017: Christine Adams, Cynthia Aiken, Alan Armstrong, Robert M Bennett (retired 06/02/15), Vaughan Byrne, Robin Cherry MBE FRAgS, J W Duff BAgr MSc FRAgS, Ashley Fleming FRAgS, Pauline Gibson, Desmond Gibson, Diane Gibson, George Hamilton, Robert Harkness, Jayne E Harkness-Bones, John Hunter, Gareth Kelly, Eugene Larkin, Jay Lindsay, Sam McEwen BAgr, Anna McIlveen, Trevor Shields, Stephen Smith BAgr DipFM FRAgS, Alex Thompson, Alexandra Woods

Appointed by the Department of Agriculture & Rural Development: John Fay BAgr DipAgrComm, Robert Houston BVMS MRCVS FRAgS (retired 07/03/2014), Robert Huey MRCVS (elected 07/03/2014), Noel Lavery, Pauline Rooney, David Small

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CommitteesCatering: Jean Mann [Chairman], Christine Adams, Cynthia Aiken, Alison Connolly, *Marie Dickson, Dorinda Lady Dunleath, William Haire NSch, *Norma Hoy, Stephen Smith BAgr DipFM FRAgS, J L Courtenay Thompson DL BA BBS, Alexandra Woods

Cattle: Alan Armstrong [Chairman], Thomas John Adams, Libby Clarke, Alison Connolly, *Gilbert J Crawford, *Linda Davis, Ashley Fleming FRAgS, William Haire NSch, John Henning NSch LIB FRAgS, Robin Irvine FRAgS, Jay Lindsay, Mark Logan, H Wilson Logan, *James Martin, *William McElroy, John McMordie, Cyril Millar FRAgS, *Sam A Milliken, *Valerie Orr, Austin, Perry, Wilbert Rankin, John B Robinson, Michael Robson, John W Suffern,

*Leanne Workman

Council Show Stewards: Jay Warden [Chairman], Christine Adams, Libby Clarke, *Linda Davis, George Hamilton, Pauline Gibson, John Henning NSch LIB FRAgS, Jean Mann, Ian Mark, John Martin NSch ARAgS,

*Jill McAllister

Finance: Cyril Millar FRAgS [Chairman], Crosby Cleland FRAgS, Ian Duff BAgr MSc FRAgS, George Hamilton, Diane Gibson, John Kelly OBE BAgr Dip.Agr.Comm.FRAgS, John Martin NSch ARAgS, Sam McCausland, Jay

Warden, J A Conn Williamson

Horse: Diane Gibson [Chairman], *Shirley Anderson, John Bamber, James Coburn, David Cunningham, *Janet Currie, Lady Dorinda Dunleath, Desmond Gibson, *Adrian J Gilmore, *Adrienne Stuart, *Graffin Hanna, Eugene Larkin, Charles Mark, Ian Mark, W Duke McCartney, Anna McIlveen, Terence McKeag, *The Hon Celia O’Neill, Myrtle Peak, John B Robinson, Vanda Robinson

Horticultural: Mervyn Acheson [Chairman], T Edwin Adams, Christine Adams, Robin Cherry MBE FRAgS, John Fay BAgr DipAgrComm, Ruth Henderson, *Denise Kelso, Jean Mann, Dan McCormick, Sam McEwen BAgr, *Alan

Mercer, *Claire Woods

Pig: Trevor Shields [Chairman], *Vaughan Byrne, Hubert Gabbie, *Kenneth Gracey, *Brian Kelly, Brian T King,

Cyril Millar, Robert Morrow, *Geoffrey Ringland, Stefan Smyth

Poultry: Patricia Swandel [Chairman], Robert M Bennett, *John Cummings, Pauline Gibson, Brian T King FRAgS, Robert James McConnell, Sara McCracken, Robert S R McKibbin, Joanne M McKibbin, Robert Morrow, *Samuel J Smiley, David Thompson

Rabbit Sub: Patricia Swandel [Chairman], *James Gordon, Pauline Gibson, *Robert Patterson, *Gavin Walsh

Sheep: John Mercer BSc [Hons] CEng [Chaiman], *William Edward Adamson, Cynthia Aiken, Crosby Cleland FRAgS, Ian Crawford, Harold Dickey, J Roy Graham, John Henning NSch LIB FRAgS, *Brian Hunter, *Sheila Malcolmson, Billy Martin OBE JP FRAgS, Howard McIlwaine, Roberta McMullan, *Samuel James Smyth, Alex Thompson, David Workman


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Sheep Shearing: Robert Harkness [Chairman], T Edwin Adams, Wallace Boyd, *Finn Butler, Jayne Harkness-Bones, Walter G Hoy, *William Jones, Brendan Kelly, Gareth Kelly, Gerard Francis Kelly, *David O’Neill

Show Jumping Sub: Diane Gibson [Chairman], John Bamber, David Cunningham, *Richard Lyttle, Terence McKeag, Myrtle Peak, *Katy A Saunders

Show Dates: Cyril Millar FRAgS [Chairman], Mervyn Acheson, Christine Adams, *Jonathan Aiken, Alan Armstrong, Libby Clarke, *Linda Davis, Ian Duff BAgr MSc FRAgS, George Hamilton, Pauline Gibson, Diane Gibson, Robert Harkness, John Henning NSch LIB FRAgS, Jean Mann, Ian Mark, John Martin NSch ARAgS, *Jill McAllister, John Mercer BSc [Hons] CEng, James Morrison BAgr[Hons] FRAgS, Trevor Shields, Patricia Swandel, Jay Warden, J A Conn Williamson

Show Safety: Ian Duff BAgr MSc FRAgS [Chairman], *Lindsay Burke, Crosby Cleland FRAgS, David Cunningham, Diane Gibson, Robert Harkness, John Henning NSch LIB FRAgS, W Duke McCartney, Austin Perry, *Geoffrey Ringland, Paul Scott, Stephen Smith BAgr DipFM FRAgS

Trade Exhibits: James Morrison BAgr[Hons] FRAgS [Chairman], T Edwin Adams, Alan Armstrong, *Raymond Donnelly, Michael J Drake MBE, Ian Duff BAgr MSc FRAgS, *David A Forgie, George Hamilton, Andrew B Magowan, David G Mark, *Michele Shirlow, J A Conn Williamson

Winter Fair: John Henning NSch LIB FRAgS [Chairman], Alan Armstrong, Alison Connolly, Ashley Fleming FRAgS, *Seamus J Gunn, Jay Lindsay, Mark Logan, H Wilson Logan, *Robert B Martin, *Samuel M McCormick, John W Suffern, Jay Warden

Works: J A Conn Williamson [Chairman], *Sam Campbell, Robin Cherry MBE FRAgS, Crosby Cleland FRAgS, Diane Gibson, H Wilson Logan, Billy Martin OBE JP FRAgS, Sam McCausland, *James R McLoughlin, Robin Morrow CBE FRAgS, *George Morton, Jason Robert Rankin NSch,

Nomination: Cyril Millar FRAgS [Chairman], Mervyn Acheson, Alan Armstrong, Ian Duff BAgr MSc FRAgS, Diane Gibson, Robert Harkness, John Henning NSch LIB FRAgS, Jean Mann, John Mercer BSc [Hons] CEng, James Morrison BAgr[Hons] FRAgS, Trevor Shields, Patricia Swandel, Jay Warden, J A Conn Williamson

Scrutineers: Hubert Gabbie, Sam McCausland, Billy Martin, Austin Perry

*Co-opted MembersThe President is ex officio a member of all Committees except for the Finance Committee

¹ Allen W Anderson died on 5th October 2014

² Dr Ernest F Logan BVMS PhD FSB FRCVS FRAgS died on 3rd July 2014 3 Wilson Ervin CBE died on 22nd February 2015.

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Advisers: Auditors: PricewaterhouseCoopers LLP, Waterfront Plaza, 8 Laganbank Road, Belfast, BT1 3LR.

Bank: Danske Bank, Donegall Square West, Belfast, BT1 6JS.

Ulster Bank, 49 Wellington Street, Ballymena, BT43 6AD.

Solicitors: Johns Elliot, 40 Linenhall Street, Belfast, BT2 8BA.

Mills Selig, 21 Arthur Street, Belfast, BT1 4GA.

Pinsent Masons Belfast LLP, Arnott House, 12-16 Bridge Street, Belfast, BT1 1LS.

Stockbrokers: Cunningham Coates Stockbrokers, The Linenhall, 32-38 Linenhall Street,

Belfast, BT2 8BG.

Ernest F Logan OBE BVMS PhD FSB FRCVS FRAgS (1934-2014)

Dr Ernie Logan, President of the Royal Ulster Agricultural Society, died peacefully at home on 3 July 2014.

Dr Logan’s election to President of the Royal Ulster Agricultural Society in March 2014 was the culmination of a 55 year service to the Society. He was a past chairman of the Horse Committee and an active member of the Finance, Horse, Show Jumping and Works committees. He demonstrated a combination of mental agility and generosity of spirit that was invaluable to the Society particularly during the lead up to its current strategic repositioning.

Dr Logan will be remembered for his unequalled contribution to the Province’s agricultural sector over many years. He is perhaps best known for his invention of the Cowslip.

His involvement in wider community activity was remarkable. He was a benefactor, mentor and invested much of his time in amateur football, pigeons, pedigree livestock and adult education not to mention his greatest

interest – showjumping.


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The financial year to 31st October 2014 was a period of consistent trading for the Company. The King’s Hall Pavilions is established as the exhibition and event destination for exhibitions and events in the Province and hosted a portfolio of events including Holidayworld, Wedding Journal Show, Selfbuild Ireland, Motorcycle Festival, and Stitch & Creative Crafts. IFEX, Northern Ireland’s premier showcase of food & drink products, catering equipment, and services to the food, retail and hospitality industries returned to the Complex for its biennial exhibition.

Significantly 2014 saw the emergence of new ventures as the sector continued to escape from the recessionary impact of previous periods. Organisers and promoters, while remaining reticent to changes that could create risks to their events, began to engage in relation to new ventures. In particular the Pavilions hosted a range of new events including the inaugural Irish Golf Expo, Comic-Con, Motability & Disability - The Big Event, and Armed Forces Jobs & Trade Fair.

Since May 2013 the Company has been engaged in the management of a dual site operation with events also running at Balmoral Park. Lisburn and Saintfield Show hosted its 69th annual show in June 2014. National Balmoral ran as a four day event in July 2014 and in August 2014 the famous Truckfest brand came across the Irish Sea for the third time. New events hosted at the venue included Countryside Festival, Motorhome Convention, NI Ploughing Championships and Festival of Speed.

The Society remains focused on the achievement of its strategic plans to re-development of the King’s Hall Complex which will generate substantial returns in future periods. However the difficult task facing the Company continues to be the operation and retention of the existing business while facilitating the redevelopment opportunities and planning for the relocation of the King’s Hall Pavilions to Balmoral Park during summer 2015. Trading expectations need careful management going forward as the shape of the business changes to reflect the strategy of the Society.

The Company has maintained its core business and paid the Society a licence fee of £353,311 and transferred its trading surplus of £118,354 to the Society under covenant. This represents an increase of 23% on the funds transferred in the previous year. The financial year to 31st October 2014 must be considered as a year of steady progress and planning prior to the commencement of the transitional period during which the Pavilions will relocate to Balmoral Park.

The King’s Hall Exhibition & Conference Centre LimitedReport to the Shareholder

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The 146th Balmoral Show took place from 14th to 16th May 2014. The Show was held for the second year at its new home at Balmoral Park. Subtle changes to the layout of the Show were made to enhance the visitor experience including widening isles, additional grandstand seating and moving large marquees to the perimeter of the site - all of which were very well received.

The Society welcomed HRH Princess Anne to the Farmers’ Club dinner on the eve of the Show and also to the Show itself on Wednesday morning. The Princess Royal delighted visitors and exhibitors with her presence and her interest and knowledge of the Show scene.

The Show had a very ‘International’ feel this year with competitors and judges from all over the World. In the International Showjumping section there were competitors from Thailand, Egypt, Switzerland, Spain and Canada as well as Great Britain.

The Irish competitors thrilled spectators and gave local competitors a run for their money with Ireland’s Alexander Butler emerging as winner of the International Grand Prix for the second year running.In 2014 the Show experienced a notable increase in the number of livestock entries particularly in the equine and young handler sections. New classes were introduced including the Young Event Horse, Clydesdale Young Handler and three new classes for

Balmoral Show 2014


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the Show Hunter Type Pony. Irish Draught Ridden, Maxi Cob and Lleyns Sheep were also introduced for the first time.

The Society was delighted to play host to the Six Nations Sheep Shearing Championships on the Friday of the Show with Wales taking home the overall title. Adding to the atmosphere in the sheep shearing marquee, were competitors from New Zealand, Australia, Norway, France as well as the United Kingdom and Ireland. Over 1700 sheep were shorn throughout the week.

The Food Village was again a very popular section of the Show with over 80 food exhibitors and 30 chefs showcasing the very best of Northern Ireland produce including artisan and organic products. Visitors had the opportunity to taste and sample some exquisite foods including tasty Glenarm beef burgers, goat kebabs, chowder, hog roasts and homemade pies.

Other key attractions included Bold Dog Lings, Savage Skills and Woof Quack Away, keeping the crowds entertained throughout the three days.The RUAS extends thanks to all participants involved from livestock and trade exhibitors, sponsors, members, stewards, judges, staff and public for helping to make the Balmoral Show a great success.

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The 28th Royal Ulster Winter Fair in association with Danske Bank took place on the 12th December 2013 in the King’s Hall Pavilions.

The event offered visitors an opportunity to see the highest quality of livestock competing for the coveted title of Supreme Champion in addition to 200 dairy related trade exhibitors. The success of the annual event was demonstrated by its continued growth with an increase in footprint of over 20%.The Seminar Suite made a successful return with sector specific topics discussed including; Milk Price Indicators, BVD and Johne’s Disease Control Programmes, Feed Efficiency through the winter and Farm Safety. It provided attendees with a fantastic

opportunity to speak to leading experts in the local dairy industry. JA Patterson and Sons impressed judge Cord Hormann from Warmsen, Germany with Holstein Ballyginniff Golgwyn Cindy 2 ex 91 taking the title of Supreme Interbreed Champion.

Potterswalls Action Daisybelle exhibited by The Fleming Family, Downpatrick was named Jersey Champion, Haresfoot Bazooka Ella exhibited by John Hunter, Crumlin took the title of Ayrshire Champion while the award for Dairy Shorthorn Champion went to McLean Family, Bushmills with Marleycote Princess Jill 31. All were very worthy winners and we should acknowledge the effort and commitment put in by the exhibitors to bring the livestock to this level.

Ballyginniff Golgwyn Cindy 2 ex 91 taking the title of Supreme Interbreed Champion.

Winter Fair 2013

During the course of the year, the RUAS supported a number of charitable bodies including:

Action Cancer • Alzheimer’s Society • Belfast Islamic Centre • Bóthar • Cancer Focus NI • Farm Relief • NI Blood Transfusion Service • NICFFC • PIPS • Prostate Cancer UK • Royal British Legion • RSPB • Rural Support •

Sparks NI • The Gideons International • TinyLife • Ulster Bee Keepers Association • War on Want N.I.

Contribution to Charitable Organisations


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President’s Award

Long Service Award

The RUAS President’s Award is an accolade that recognises a member who has made a significant contribution to the work of the Society by both acknowledging and promoting their achievements. This year the 23rd annual award was presented to Robert Harkness, Crumlin.

Robert was elected to the RUAS Council in 1988 and because of his broad range of experience, he was appointed to the Show Safety Committee in 1999. Robert’s knowledge of arboriculture and aquaculture not to mention Irish history of the megalithic period reflects the wider aspects of the Society’s remit to promote the arts and sciences.

Robert is an active farmer and very well known specifically in the sheep shearing sector where he is an acknowledged expert. Following a

quarter of a century of service to the Society through its Sheep Shearing Committee he was appointed as Chairman in 2012. Robert is also the Chief Steward of the Sheep Shearing during Balmoral Show. The RUAS congratulates Robert on receiving this award.

The Royal Ulster Agricultural Society annuallyhonours agricultural employees for their dedicationand committed service to the agricultural industryover a number of years. This year the long serviceaward winner is Karen who has 30 years experience working directly for the RUAS. Initially working

as a receptionist Karen worked her way through various functions within the organisation including supporting the shows association, providing administration support and as livestock officer for RUAS shows including pig and poultry fairs in addition to the Balmoral Show and Winter Fair.

Over the years Karen has taken on more responsibilities including supporting the RUAS Council, Annual Meeting and Committees. In 2010 Karen graduated with an Executive Secretarial Diploma. Karen has a great indepth knowledge of exhibiting livestock in each section of our shows. She is renowned for her ability to efficiently resolve exhibitor queries. She is known, liked and respected far and wide which brings great credit to the Society.

Robert Harkness receiving the RUAS President’s Award from the late Dr. Ernest Logan.

Karen Hughes receiving her long standing service award from the Late Dr. Ernest Logan and Vice Patron John Bamber

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Council members’ statement for the year ended 31 October 2014This summarised financial statement contains the key information to enable the reader to gain an overview of the Society’s financial position at the 31 October 2014. To gain a comprehensive understanding of the financial affairs of the Society, the full annual financial statements, the auditors’ report on those financial statements and the Council members’ report should be consulted; copies of these can be obtained on payment of an administration charge from The King’s Hall, Balmoral, Belfast, BT9 6GW.

The full annual financial statements, from which this summary financial statement is derived and on which the auditors gave an unqualified opinion, were approved on 6 February 2015.

By order of the Board

C Millar

Chairman of Finance Committee

6 February 2015


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Independent auditors’ report to the trustees of Royal Ulster Agricultural SocietyReport on the financial statements

Our opinionIn our opinion the financial statements, defined below:

• give a true and fair view of the state of the group’s and the parent charity’s affairs as at 31 October 2014 and of the group’s outgoing resources and application of resources and the group’s cash flows, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Industrial Provident Act (Northern Ireland) 1969.

This opinion is to be read in the context of what we say in the remainder of this report.

What we have auditedThe group financial statements and the parent financial statements (“the financial statements”), which are prepared by Royal Ulster Agricultural Society, comprise:

• the consolidated and society balance sheets as at 31 October 2014;• the consolidated statement of financial activities for the year then ended;• the consolidated cash flow statement for the year then ended; • the notes to the financial statements, which include a summary of significant accounting policies and other explanatory information.

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. In making such estimates, they have made assumptions and considered future events.

What an audit of financial statements involvesWe conducted our audit in accordance with International Standards on Auditing (UK and Ireland) (“ISAs (UK & Ireland)”). An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: • whether the accounting policies are appropriate to the group’s and the parent charity’s circumstances and

have been consistently applied and adequately disclosed; • the reasonableness of significant accounting estimates made by the trustees; and • the overall presentation of the financial statements.

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In addition, we read all the financial and non-financial information in the Annual report and financial statements (the “Annual Report”) to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material

misstatements or inconsistencies we consider the implications for our report.

Independent auditors’ report to the trustees of Royal Ulster Agricultural SocietyOther matters on which we are required to report by exceptionSufficiency of accounting records and information and explanations receivedUnder the Industrial Provident Act (Northern Ireland) 1969 we are required to report to you if, in our opinion:

• we have not received all the information and explanations we require for our audit; or• sufficient accounting records have not been kept by the parent charity; or• the parent charity financial statements are not in agreement with the accounting records and returns.

We have no exceptions to report arising from this responsibility.

Other information in the Annual ReportUnder the Industrial Provident Act (Northern Ireland) 1969 we are required to report to you if, in our opinion the information given in the Report of Council is inconsistent in any material respect with the financial statements.We have no exceptions to report arising from this responsibility.

Responsibilities for the financial statements and the auditOur responsibilities and those of the trustees

As explained more fully in the Statement of Council members’ responsibilities set out on page 23, the trustees

are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and ISAs (UK & Ireland). Those standards require us to comply with the Auditing Practices Board’s Ethical Standards for Auditors.

This report, including the opinions, has been prepared for and only for the charity’s Council as a body in accordance with section 144 of the Industrial Provident Society (Northern Ireland) 1969 and regulations made under the Act and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save

where expressly agreed by our prior consent in writing.

PricewaterhouseCoopers LLPChartered Accountants and Statutory AuditorsBelfast, 6 February 2015


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The Report of Council for the year ended 31 October 2014The members of Council present the Report of Council and the audited consolidated financial statements for the year ended 31 October 2014. The Council has adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005 in preparing the Annual Report of Council and Financial Statements of the Society.

Reference and administration detailsDetails of the registered office, elected members, independent advisors and other relevant information are given on page 5-8.

Details of the SocietyThe SocietyThe Society was established in 1854 as the North East Agricultural Association. It was incorporated in 1894 under the Educational Endowments (Ireland) Act 1885 and a Scheme was drawn up at that time for its future governance and management. The Association changed its name in 1903 to the Ulster Agricultural Society and permission to use the Royal prefix was granted the following year. The Society has charitable status (Inland Revenue Ref. XN 46025) and its income is applied towards the promotion of its objectives.

Commercial trading activitiesSince October 1997 the revenue generating activities of the Society have been undertaken by a wholly owned subsidiary, the King’s Hall Exhibition & Conference Centre Limited. This company has no fixed assets or staff but is charged a licence fee for the use of the Society’s premises and a management fee to cover establishment expenses and the secondment of staff. Any surplus generated is paid to the Society under covenant.

Structure, governance and managementGovernance and Internal ControlCouncil has overall responsibility for ensuring that the Society has an appropriate system of controls, financial and otherwise, and for providing reasonable assurance that it is operating efficiently and effectively. Its assets are safeguarded against unauthorised use or disposition. Proper records are maintained and financial information used within the Society or for publication is reliable and that it complies with relevant laws and regulations.

The system of internal controls is designed to provide reasonable, but not absolute, assurance against material misstatement or loss. Key features of the system are an annual budget approved by Finance Committee, regular consideration by Finance Committee of financial results, variance from budgets, non-financial performance indicators and benchmarking reviews. The Finance Committee also reviews delegation of authority and

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segregation of duties and the identification, review and management of strategic, business and operational risks.

EmployeesThe day to day work of the Society is undertaken by a staff of sixteen employees under the direction of the Chief Executive. The Society’s employment policies comply with local relevant employment legislation. The Society has a training and development policy is in place to ensure that all staff are competent to undertake the duties as set out in their job descriptions. Regular formal meetings take place to ensure communication of all pertinent matters. Council would like to thank the staff for their continued loyalty, support and hard work.

Organisational structureThe Scheme provides for the appointment by Council of committees consisting of members of the Society. Potential new Council members are nominated by a member and elected by the Society’s membership. They are subject to retirement by rotation but are eligible to stand for re-election. Committees meet as required and make recommendations for decision by Council. The Finance Committee has, however, a range of delegated duties which it can action without reference to Council. During the financial year there were sixty-seven committee meetings and Council met on seven occasions.

Risk managementCouncil, through the Finance Committee, has established a detailed review of the major risks to which the Society is exposed. The aim of this review is to establish a risk management strategy which comprises:

• An on-going review of the risks which the Society may face, the review to be at least on an annual basis based on a comprehensive register of risk.

• The establishment of systems and procedures to mitigate those risks identified in the review.• The implementation of procedures designed to minimise the impact on the Society should any of the risks

materialise.

The Finance Committee has actively reviewed the major risks which the Society faces and believes that achieving the free reserves at the level of 12 months will provide sufficient resources in the event of adverse conditions. This assessment is incorporated within the annual review of the controls over key financial systems through an internal audit programme. The Finance Committee has also examined other business and operational risks, which the Society faces and confirms that it has established systems to mitigate significant risks.

The Council members are responsible for the management of risks faced by the Society. Detailed consideration of risk is delegated to the Finance Committee assisted by the Chief Executive and his Senior Management Team.

The Report of Council for the year ended 31 October 2014 (continued)


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A formal review of the Society’s risk management process is undertaken on an annual basis.

Objectives and activitiesThe Scheme, which was last amended in 1984, identifies the Council as a Body Corporate with power to have and exercise general supervision and control over the affairs of the Society. The property, funds and securities of the Society are vested in the Council to be utilised in the purpose of fulfilling the charitable objectives of the Society as detailed within the Scheme.

The Society’s charitable objectives are: • The promotion of agriculture in Northern Ireland by holding agricultural shows, and by giving agricultural

instruction and by exhibitions, lectures and other such means as may from time to time be found expedient and in accordance with the provisions of the Scheme.

• The promotion of industries, art, sciences and literature. These items were added to the Scheme in 1937 but have always been treated as minor in relation to the main objective of promoting agriculture.

The RUAS seeks to achieve its objectives through:• The delivery of agricultural shows which seek to:

• Contribute to the development of public awareness and understanding of the Province’s agri-food sector. • Promote good farming practices and the development the skills and crafts needed to enhance the sector.• Encourage the advancement of breeding and rearing of livestock (including horses and poultry).

• Presentation of awards to those engaged in agriculture in particular recognising the service of individual employees in the agricultural sector.

• Working in partnership with other bodies to assist in the promotion of the industry.• The promotion of the arts through the maintaining facilities and services at the complex to enable the venue

to host a range of concerts, cultural and sporting events. Furthermore the Society is engaged in:

• Preservation of the iconic King’s Hall building which is listed with the Northern Ireland Environment Agency.• Making its facilities and resources available for utilisation by other charitable bodies.

The strategy of the Society is as follows:• Ensure that the objectives as detailed in the Scheme are delivered.• Ensure that the assets, investments and funds of the Society are prudently managed.• Utilise the assets, investments and funds of the Society to put in place sustainable enabling finance streams.


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Public BenefitThe Council considers that these objectives, activities and goals have a clear public benefit in enhancing the economic, social and cultural well being of rural communities. The public benefits include:

• Improving standards of livestock and agricultural practices within the agricultural sector in Northern Ireland in particular and beyond.• Preserving and maintaining high standards and skill levels within the agricultural sector in Northern Ireland

and beyond. • Developing and preserving of rural crafts and craftsmanship necessary to enhance the agricultural sector in

the Province.• Ensuring that rural traditions and skills are passed down through successive generations of the agricultural

community. • Improving the welfare of agricultural animals through the recognition of high standards of agricultural

husbandry throughout the Province and beyond. • Enhancing the general public’s knowledge and understanding of the Province’s agri-food sector.

In drafting these statements, the Council has complied with the duty in Section 4 of the Charities Act 2006, to have due regard to the public benefit guidance published by the Charity Commission.

Achievements and performanceIn order to achieve the Society’s objectives the following has taken place within the financial year:

The 28th Royal Ulster Winter Fair, in association with Danske Bank, was held in the King’s Hall Pavilions on 13th December 2013. The event is the premier indoor event in the dairy farming industry. The number of trade stands increased to 200 and a third marquee was required to facilitate the increased demand for trade space. The trade stands specifically aimed at the dairy industry showcased their products to the sector and the standard of livestock at the event remained high. The King’s Hall Pavilion facilitated the Seminar Suite which hosted a range of speakers from sector specific organisations. The showmanship classes continued to be a successful addition to the Winter Fair timetable and continue to encourage young people to become involved in showing livestock. The Society held its 146th Balmoral Show during May 2014. The second Balmoral Show at its new home in Balmoral Park was a great success with livestock entry levels remaining high and attendance levels reaching record levels. The new location enabled to Show to increase the level of trade exhibitors to approximately 500 including a significant presence from the plant and machinery sector. The food village with over 80 local producers, supermarkets, independent retailers coming together to demonstrate the route to market for our agri-produce. Approximately 670 livestock classes were presented during the Show including classes for horses, ponies, cattle, sheep, poultry, pigs and goats.The Complex hosted a number of agri-events during the year including:


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• Allams Premier Christmas Show & Cattle Sale;

• Lisburn and Saintfield District Show;

• Commercial Cattle Summer Spectacular;

• N.I. Ploughing Championships;

• Ulster Grassland Conference;

• AFBI Dairy Conference;

• Suffolk Sheep Sale;

• Texel Sheep Sale.

The Society presented a long service award to worthy recipient, Karen Hughes, Livestock Administration Executive for the RUAS for her contribution to the agricultural sector and the Society in particular.

A number of sporting events were included in the Complex’s calendar including: • National Balmoral Showjumping Championships;• Mossvale Dressage Events• Belfast Half Marathon

Financial ReviewThe Summarised Consolidated Statement of Financial Activities on Page 23 shows net outgoing resources of £283,475 (2013: £755,595). After recognition of unrealised gains on investments and revaluation of fixed assets the net movement in funds was a deficit of £283,475 (2013: surplus of £197,686).

Review of performance The performances of the Society and its subsidiary during the year are discussed in the Annual Report. The following paragraphs indicate where detailed analysis of the results can be found in the financial statements.

Income generationThe Consolidated Statement of Financial Activities provides a detailed analysis of the income of the Society during the year.

Resources expendedThe supporting notes to the Consolidated Statement of Financial Activities disclose in detail how the Society’s resources have been expended in the year. Expenditure is in line with budget and reflects the rationale given in the paragraph on Plans for future periods below.


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ReservesCouncil, through its Finance Committee, review the reserves policy of the Society annually.The Society’s policy is to retain a level of free reserves which matches the needs of the Society both at the current time and in the foreseeable future. Free reserves are those funds not tied up in fixed assets or restricted funds.

The actual reserves at 31 October 2014 are £1,590,874 (2013: £1,314,462) which represents 5 months (2013: 6 months) of unrestricted activity. In calculating reserves, the Council has excluded from the total funds, fixed assets of £10,088,463 (2013: £10,648,369) and restricted funds of £5,529 (2013: £5,510).

The Finance Committee considers that Society requires free reserves equivalent to twelve months of unrestricted activities.

Plans for future periodsThe strategic objective of Council is to progress the Society’s development opportunities to ensure that the enabling finances required are achieved in the medium to long-term thereby enabling the Society to enhance its charitable activities within that time-scale. The membership of Society has approved the proposal to develop the King’s Hall Complex for residential and commercial use, and reinvest in new showgrounds at Balmoral Park, Lisburn.

Council has authorised the Finance Committee to negotiate with the preferred developer to reach agreement on the dispose of 16.25 acres of lands at the Harberton end of the Complex for residential development. The funds that will be derived from this agreement will be reinvest into the development of Balmoral Park as an events park.

During 2012 the King’s Hall Pavilions were erected at the Complex to accommodate the existing exhibition and event business on an interim basis to facilitate the re-development. To facilitate the residential development the Pavilions are to be relocated to Balmoral Park within the next financial year. This will be the major component of the second phase of the development of Balmoral Park and will establish Balmoral Park as the events and exhibition destination in Northern Ireland.

The Finance Committee regularly considers detail financial projections in relation to each element of the overall strategic plan and will ensure that the development plans for the Balmoral Park are phased to ensure the on-going viability and growth of the Society.



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Statement of Council members’ responsibilitiesThe Council members’ are responsible for preparing the Council’s 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 Council to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Society and of the incoming resources and application of resources, including the income and expenditure, of the Society for that period. In preparing these financial statements, the Council members’ 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;• state whether applicable UK Accounting Standards have been followed, subject to any material departures

disclosed and explained in the financial statements;• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the

Society will continue in business.

The Council is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Society and enable them to ensure that the financial statements comply with the Industrial and Provident Societies Act (Northern Ireland) 1969. They are also responsible for safeguarding the assets of the Society and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Council is aware:• there is no relevant audit information of which the Society’s auditor is unaware; and• the Council members’ have taken all steps that they ought to have taken to make themselves aware of any

relevant audit information and to establish that the auditor is aware of that information.

Independent AuditorsThe auditors, PricewaterhouseCoopers LLP, have indicated their willingness to continue in office and a resolution concerning their reappointment will be proposed at the Annual Meeting.

C MillarChairman of the Finance CommitteeDate: 6 February 2015


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Restricted funds

Summarised consolidated statement of financial activities for the year ended 31 October 2014

All amounts above are related to continuing operations.All gains and losses recognised in the year are included above and therefore no separate statement of gains and losses has been presented.

Restrictedfunds

£

Unrestrictedfunds

£

Total2014

£

Total2013

£Incoming resourcesIncoming resources from generated fundsVoluntary incomeMembers' subscriptions and donations - 64,466 64,466 50,715Activities for generating fundsCommercial rental income - 1,183,543 1,183,543 968,981Other income - 20,127 20,127 9,697Investment income 55 4 59 31,736

55 1,268,140 1,268,195 1,061,129Incoming resources from charitable activitiesBalmoral Show income - 2,043,390 2,043,390 1,708,862Winter Fair income - 226,434 226,434 183,673

- 2,269,824 2,269,824 1,892,535Total incoming resources 55 3,537,964 3,538,019 2,953,664Resources expendedCosts of generating fundsExpenditure relating to members’ subscriptions - 43,077 43,077 42,992Expenditure relating to commercial rental income - 711,882 711,882 679,328

- 754,959 754,959 722,320Charitable activitiesAgricultural shows 36 2,524,183 2,524,219 2,653,465Other charitable activity support costs - 7,019 7,019 7,128

36 2,531,202 2,531,238 2,660,593Other resources expendedGovernance costs - 85,041 85,041 83,635Centralised costs - 450,256 450,256 242,711

- 535,297 535,297 326,346Total resources expended 36 3,821,458 3,821,494 3,709,259Net incoming/(outgoing)resources before other recognised gains and losses 19 (283,494) (283,475) (755,595)

Other recognised gains and losses:Gain on revaluation of fixed assets - - - 953,563Net movement in funds 19 (283,494) (283,475) 197,968Total funds brought forward 5,510 11,962,831 11,968,341 11,770,373Total funds carried forward 5,529 11,679,337 11,684,866 11,968,341


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Approved by Council on 6th February 2015.

and signed on its behalf by:

C Millar

Chairman of Finance Committee

Group Society

2014£

2013£

2014£

2013£

Fixed assetsIntangible assets 2,985 3,575 2,985 3,575Tangible assets 10,085,478 10,644,794 10,085,478 10,644,794Investments - - 50,000 50,000

10,088,463 10,648,369 10,138,463 10,698,369Current assetsStock 20,246 16,492 7,976 7,409Debtors 3,195,306 2,823,327 3,012,478 2,716,064Bank deposits 3,671 2,468 - -Cash in hand 653 552 653 552

3,219,876 2,842,839 3,021,107 2,724,025

Creditors: amounts falling due within one year (1,576,746) (1,467,105) (1,427,977) (1,398,291)

Net current assets 1,643,130 1,375,734 1,593,130 1,325,734Total assets less current liabilities 11,731,593 12,024,103 11,731,593 12,024,103Creditors: amounts falling due after more than one year (6,324) (9,487) (6,324) (9,487)Deferred income (40,403) (46,275) (40,403) (46,275)Net assets 11,684,866 11,968,341 11,684,866 11,968,341

Income fundsUnrestricted 11,679,337 11,962,831 11,679,337 11,962,831Restricted 5,529 5,510 5,529 5,510Total charity funds 11,684,866 11,968,341 11,684,866 11,968,341

Summarised balance sheets at 31 October 2014

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2011 (£)

The income and expenditure totals above incorporate the profit and loss account of the Society’s trading subsidiary, The King’s Hall Exhibition & Conference Centre Limited.

Rental Income and Expenditure2014

£2013

£Rental income 901,867 801,430Agricultural and equestrian rental income 50,879 14,855Standfitting and other service income 230,797 152,696

1,183,543 968,981Support costs:Salaries and wages, labour and security 285,125 271,176Exhibition expenses 149,773 152,165Office costs 28,605 23,634Establishment expenses 248,379 232,353

711,882 679,328

Unrestricted funds

Restricted fundsThe income funds of the Society include restricted funds comprising the following unexpended balance of donations to be applied for specific purposes:

Notes to the summarised financial statementsfor the year ended 31 October 2014

Group and Society

Generalfunds

£

Tangiblefixed asset

revaluations£

Totalfunds

£

At 1 November 2013 3,968,282 7,994,549 11,962,831Net outgoing funds (283,494) - (283,494)Transfer between funds (64,145) 64,145 -At 31 October 2014 3,620,643 8,058,694 11,679,337

Group or Society

Balance 1 November

2013£

Movement in fundsBalance

31 October2014

£

Incoming£

Outgoing£

Alex Waugh Legacy 176 2 (36) 142John Kirkpatrick Legacy 5,334 53 - 5,387

5,510 55 (36) 5,529


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