message from the president - balmoral showbalmoralshow.co.uk/pdfs/2016-annual-report-low-res.pdf ·...

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RUAS AnnUAl RepoRt 2016

It is hard to believe that my term as President is drawing to a close. As a result of the untimely death of Dr. Logan BVMS PhD FSB FRCVS FRAgS, a short time after his election, I have been President of the Society for almost three years. This has been a very fulfilling and enjoyable experience for my wife Eileen and me. I have been President through a period of unprecedented change within the Society. It has been a tremendous experience to be part of the development of Balmoral Park, and the relocation of our activities to the new showgrounds. This has been made possible by the release of capital funds from the residential development at King’s Hall Complex. The commercial redevelopment of the remainder of the site will ensure a sustainable annual income in to the foreseeable future.

Eileen and I were delighted to represent the Society at many events all over the British Isles. It has been a great pleasure to return this hospitality and host many very enjoyable functions held by the Society.

I would like to thank everyone for the help and friendship that has made this such a memorable journey. The Council and committees have always exceeded expectations, which has made my time in office so enjoyable. We have staff that are

second to none and nothing was ever to much trouble for them.

I wish the Society every success for the future and hope that the development of Balmoral Park will proceed apace, and the Society continues to fulfil its charitable objectives in the promotion of agriculture, education, science and the arts.

Again I would like to thank everyone and I look forward to seeing many of you at our Annual Meeting in March and the 149th Balmoral Show in May.

Billy Robson OBE FRAgSPresident

Message from the President

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In 2012 you, the members, took a decision which has set the Society on the road to a secure future. Secure because that decision gave us the opportunity to deliver sustainable enabling finance.

Another milestone on that road was passed this year with the occupation of the first fifteen houses at Harberton Park. This development delivers the capital element of the enabling finance. Its quality is receiving accolades from every quarter in Belfast. It is very satisfying to know that when the remaining 120 houses are occupied, the Society will leave the site with something that its members can be genuinely proud of.

This year also saw the Society enter into heads of terms for a proposal to redevelop the King’s Hall as the focus of a primary health care hub. Ground rent from the scheme will deliver the revenue element of the enabling finance. The King’s Hall will be restored to its original design. It will then become home to GP surgeries together with ancillary uses including imaging, optical, audiology and pharmacy. A hotel is planned for the area presently occupied by the King’s Hall Conference Centre. The remainder of the site will house new buildings featuring assisted living, nursing homes and dementia care. I look forward to the proposal becoming reality towards the end of 2018.

The Eikon was completed during the year. It became the new home of the Winter Fair and it was the cornerstone of Balmoral Show - a Show which was a remarkable 50% bigger than it was in 2013. Both events were remarkably successful. The Winter Fair is now the leading event of its kind the UK and Ireland. The Balmoral Show played an instrumental part in promoting the Province’s Year of Food & Drink. Of course the success of each depends on the huge input of our membership whether as Members of Council and committees, or stewards or supporters. It is so encouraging therefore to see more and more members offer their services as stewards as we take on the extra work involved in running the four-day Show in 2017.

Exciting times lie ahead but we can’t pause for breath. The forthcoming year will see another milestone passed in the development of Balmoral Park. Subject again to sufficient enabling finance, it is proposed to double the size of Eikon Exhibition Centre. With a determined effort the new building will open its doors to the 32nd Royal Ulster Winter Fair in 2017 and be part of an even bigger and better 150th anniversary Balmoral Show in 2018.

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). The Society is registered with the Charity Commission for Northern Ireland, Charity No. NIC101946.

Patron: HRH The Earl of WessexVice Patron: John Bamber MBE BA (Hons)President: William H Robson OBE FRAgSDeputy President: Cyril M Millar FRAgS Past Presidents: Mrs Margaret Collinson OBE, Roly Cunningham, John G Kelly OBE BAgr Dip Agr Comm FRAgS, Brian T King FRAgS, W Robin Morrow CBE FRAgS, The Lord O’Neill KCVO TD, J L Courtenay Thompson DL BA BBS

Vice Presidents:

Retire March 2017 Wilson Logan, Robert Morrow, Walter Smythi, Billy Martin

Retire March 2018 Terence McKeag, Austin Perry, Edwin Adams, Dorinda Lady Dunleath

Retire March 2019 John Henning, Conn Williamson, Jean Mann, Cyril M Millar

Retire March 2020 Diane Gibson, Hubert Gabbie, Anne Mark, Sam McCausland

Elected Members: The Council consists of the President, Past Presidents, Vice Presidents and the following:

Retire March 2017 Christine Adams, Cynthia Aiken, Shirley Anderson, Alan Armstrong, Vaughan Byrne, John Carson, Robin Cherry MBE FRAgS, J W Duff BAgr MSc FRAgS, Ashley Fleming FRAgS, Pauline Gibson, Desmond Gibson, George Hamilton, Robert Harkness, Jayne E Harkness-Bones, Ruth Henderson, John Hunter, Gareth Kelly, Eugene Larkin, Jay Lindsay, Sam McEwen BAgr, Robert S R McKibbin, Anna McIlveen, Jim McLoughlin, Trevor Shields, Stephen Smith BAgr DipFM FRAgS, Alex Thompson, Alexandra Woods

Retire March 2018 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, The Hon Mrs Celia O’Neill, John B Robinson, Vanda Robinson, Michael Robson, Stefan Smyth, John W Suffern, Patricia Swandel, David Thompson, David Workman

Retire March 2019 Mervyn Acheson, James Allen, Crosby Cleland FRAgS, Alison Connolly, Harold Dickey, J Roy Grahamii , Walter G Hoy, Brendan Kelly, Gerard Francis Kelly, Mark Logan, Ian Mark, John Martin ARAgS NSch, W Duke McCartney, Sara McCracken, William McElroy, Howard McIlwaine, Roberta McMullan, Alan Mercer, James Morrison BAgr[Hons] FRAgS, Myrtle Peak, Jason Robert Rankin NSch, Wilbert Rankin, Sam Smyth, Jay Warden, Leanne Workman

Appointed by the Department of Agriculture & Rural Development:John Fay BAgr DipAgrCommiii, Robert Huey MRCVS , Noel Lavery, Pauline Rooney, David Smalliii

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Committees

Catering: Jean Mann [Chairman], Christine Adams, Cynthia Aiken, Alison Connolly, 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], *Robert S Boyle, John Carson, Libby Clarke, *James Alan Cleland, Alison Connolly, *Linda Davis, Ashley Fleming FRAgS, John Henning NSch LIB FRAgS, Robin Irvine FRAgS, Jay Lindsay, Mark Logan, H Wilson Logan, *William McAllister, John McMordie, Cyril Millar FRAgS, *Sam A Milliken, Austin Perry, Wilbert Rankin, John B Robinson, Michael Robson, *Geoffrey Martin Rodgers, John W Suffern, Leanne Workman

Council Show Stewards: Jay Warden [Chairman], Christine Adams, *Barrie Barr, Libby Clarke, Pauline Gibson, George Hamilton, John Henning NSch LIB FRAgS, Jean Mann, Ian Mark, *James Mark, John Martin NSch FRAgS, *Jill McAllister

Finance: Cyril Millar FRAgS [Chairman], Libby Clarke, Crosby Cleland FRAgS, Ian Duff BAgr MSc FRAgS, Diane Gibson, George Hamilton, John Kelly OBE BAgr Dip.Agr.Comm.FRAgS, John Martin NSch FRAgS, Sam McCausland, Jay Warden, J A Conn Williamson

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

Horticultural: Mervyn Acheson [Chairman], Christine Adams, T Edwin Adams, Robin Cherry MBE FRAgS, Ruth Henderson, *Denise Kelso, Jean Mann, Dan McCormick, Sam McEwen BAgr, *Neil Samuel McKnight, Alan Mercer, * Claire Woods

Pig: Trevor Shields [Chairman], Vaughan Byrne, *Sandra K S Byrne, Hubert Gabbie MBE, Brian T King FRAgS, Cyril Millar FRAgS, Robert Morrow, *Geoffrey Ringland, *William Shields, Stefan Smyth

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

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

Sheep: John Mercer BSc [Hons] CEng [Chairman], Cynthia Aiken, Crosby Cleland FRAgS, Harold Dickey, *Henry Gamble, *Thomas Harkin, John Henning NSch LIB FRAgS, *Sheila Malcolmson, Billy Martin OBE FRAgS, *Elizabeth McAllister, Howard Mcllwaine, Roberta McMullan, James Morrison BAgr[Hons] FRAgS, Samuel James Smyth, Alex Thompson, David Workman FRAgS


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Sheep Shearing: Robert Harkness [Chairman], T Edwin Adams, Wallace Boyd, Jayne Harkness-Bones, Walter G Hoy, Brendan Kelly, Gareth Kelly, Gerard Francis Kelly, *Ian Montgomery, *John Hugh Murphy, *Jack Robinson

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

Show Dates: Cyril Miller FRAgS [Chairman], Mervyn Acheson, Christine Adams, Alan Armstrong, *Barrie Barr, Libby Clarke, Pauline Gibson, George Hamilton, Robert Harkness, John Henning NSch LIB FRAgS, Mark Logan, Jean Mann, Ian Mark, *James Mark, John Martin NSch FRAgS, Billy Martin OBE FRAgS, *Jill McAllister, W Duke McCartney, John Mercer BSc [Hons] CEng, James Morrison BAgr[Hons] FRAgS, Austin Perry, Trevor Shields, Jay Warden

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

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

Winter Fair: Mark Logan [Chairman], *Keith W Agnew BAgr, Alan Armstrong, Alison Connolly, *Linda Davis, Ashley Fleming FRAgS, John Henning NSch LIB FRAgS, Jay Lindsay, H Wilson Logan, *Samuel M McCormick, John W Suffern, Jay Warden

Works: Billy Martin OBE FRAgS [Chairman], A James C Allen, *Sam Campbell, Robin Cherry MBE FRAgS, Crosby Cleland FRAgS, Diane Gibson, *Christine Kennedy OBE ARAgS, H Wilson Logan, Sam McCausland, *George Morton, Jason Robert Rankin NSch, J A Conn Williamson

Nomination: Cyril Millar FRAgS [Chairman], Mervyn Acheson, Alan Armstrong, Pauline Gibson, Robert Harkness, Mark Logan, Jean Mann, Billy Martin OBE FRAgS, W Duke McCartney, John Mercer BSc [Hons] CEng, James Morrison BAgr[Hons] FRAgS, Austin Perry, Trevor Shields, Jay Warden

Scrutineers: Wilson Logan, Terence McKeag, Austin Perry, Billy Martin

*Co-opted Members The President is ex officio a member of all committees except for the Finance Committee

i Walter Smyth, died on 20th October 2016ii Roy Graham, died on 6th February 2016iii Retired 2016 iv Robert McConnell, died on the 19th April 2016

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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.

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

Belfast, BT2 8BG.

The financial year to 31st October 2016 saw the completion of fifteen houses and transfer of associated land to the individual purchasers. The development of the second phase at Harberton BT9 commenced with purchasers keen acquire property in the most prestigious development in Belfast.

The Northern Ireland housing market experienced the effect of changes in stamp duty and the EU Referendum, which combined to impact upon confidence and activity during the financial year. The Company’s performance was better than anticipated given the market conditions.

The Company has paid the Society a management charge of £479,874 and transferred its trading surplus £138,182 to the Society under covenant.

Report to the Shareholders

King’s Hall Harberton Estates Limited


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The financial year to the 31st October 2016 was a decisive period for the Company as it relocated its activities to the Eikon Exhibition Centre and Balmoral Park. Within the first full year of trading the Eikon Exhibition Centre hosted a diverse portfolio of events including, Motorcycle Festival, the Machinery Show, Dubshed, UCAS Education Convention, the Big Drive Motability Event, and MCM Comic Con. The Belfast Championship Dog Show returned for its second show at the venue in September 2016. Event organisers who relocated from the King’s Hall Complex have reported increased visitor and exhibitor numbers as the events flourish at the new venue which is ideally positioned to attract an all island audience. Throughout the period a range of outdoor events were hosted at Balmoral Park including Colour Dash, Action Cancer Truck Pull and the Five Breed Sheep Sale. The 71st Saintfield Show ran in June 2016 and held an element of the show within the Eikon. Speed Weekend NI returned to Balmoral Park for a third time in August 2016 and also utilised the indoor space.

The Society remains focused on the delivery of its strategic plans to re-development of the King’s Hall Complex which will generate substantial future returns for re-investment in Balmoral Park. The Society is commitment to developing the Eikon and Balmoral Park as the premier national event centre for Northern Ireland.

The Company is intent on the expansion of the existing business and development of new business opportunities at Balmoral Park. The Eikon Exhibition Centre has been well received by the events industry through the United Kingdom and Ireland. Trading projections are in line with expectations and reflect the strategic objectives of the Society.

The Company paid the Society a management charge of £179,908, a licence fee of £1,915 and transferred its trading surplus to the Society under covenant. The financial year to 31st October 2016 must be considered as a year of steady progress within a transitional and historic period.

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

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The 148th Balmoral Show took place from 11th to13th May 2016. The Show has settled into its home at Balmoral Park and was a fantastic success. Some elements of the layout were tweaked, including the addition of a polytunnel growing local produce within the Garden Village and the relocation of the Agri Pavillion. A major addition to the Show was our new Eikon Exhibition Centre, which housed the Shopping Village and provided an impressive focal point.

2016 was the second year of the Spar Arena, a dedicated family entertainment ring, and the Lely created a robotic milking demonstration. Both of which were very well received again and added extra dimensions to the Show.

The Show continued to host judges and competitors from all over the world. In the International Show Jumping section there were competitors from Egypt, Canada, Ireland and Great Britain.

Balmoral Show 2016


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the level of stockmanship was exemplary...

The 2016 Show maintained high levels of livestock entries with some classes increasing in popularity including beef and sheep young handlers. The level of stockmanship was exemplary with a high standard and skill level exhibited across all classes, often commented on by visiting judges. Balmoral Show hosted the Six Nations Wool Handling followed by a test between Germany and Northern Ireland.

The Year of Food and Drink was highlighted throughout the Show The Food Village was again a very popular section of the Show with sustained success in numbers as over 90 food exhibitors and 47 chefs presented the very best of Northern Ireland produce including artisan and organic products. Visitors had the opportunity to taste and sample some exquisite foods as local food producers showcased their wares.

Other key attractions include the main arena attraction, Bolddog Lings and Downtown Radio Show Stage, both 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.

Geoffrey Ringland and his daughter Eva with his Show Champion ‘Churchview Salubrious’ at Balmoral Show on Thursday along with Judge Richard Wood and one of the sponsor’s representatives, Vaughan Byrne.

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Winter Fair 2015The 30th Royal Ulster Winter Fair in association with Danske Bank took place on the 10th December 2015 at Eikon Exhibition Centre, Balmoral Park.

The new venue provided a perfect home for the dairy event. 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 Seminar Suite returned with great attendance as the packed schedule provided valuable and informative advice on many dairy and agriculture related topics. A live calf rearing demonstration was introduced which enthralled the crowd.

The Supreme Interbreed Champion selected by New Zealand judge Selwyn Donald was a Holstein cow, Evergreen Duplex Ebony exhibited by Liam Murphy from Co. Carlow.

Beechview Empire Tiny exhibited by George and Jason Booth, Dungannon was named Dairy Shorthorn Champion, Sandyford Honest Blizzard exhibited by John Hunter, Crumlin took the title of Ayrshire Champion. The award for Jersey Champion went to Clandeboye Estate, Bangor with Clandeboye Allstar I Evita and Supreme Holstein was given to Desmond Dundee Embrace exhibited by Hallow Holsteins, Gorey.

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.

CARASThe Northern Ireland group of Fellows and Associates of Council for Awards of Royal Agricultural Societies) enjoyed study tours in 2016 to well known, local businesses. In April the group visited Moore Concrete and RJ Cherry & Sons pak choi and seed potato farm, Ballymena. The group also visited Glenarm Castle Farm and Glens of Antrim Potatoes, Cushendall in October. Both trips were highly enjoyable and offered a great insight into the respective businesses.

We would like to congratulate Martyn Blair, Sam Chesney, Jim Dobson, Tracy Hamilton and Maurice McHenry were made Associates at Balmoral Show 2016. Ian Buchanan, Noel Kane, Dr. Christine Kennedy and David Stewart where also advanced to Fellowship.


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The President’s AwardAt the Annual Meeting 2016, Sam McCausland was awarded the coveted President’s Plate. The prestigious 25th annual award was bestowed by Billy Robson. Colin McDonald commented “The purpose of the award is to acknowledge a member who has made a significant contribution to the Society over a period of years. The making of such an award is an important recognition because that contribution will invariably have been part of the Society’s work to promote agriculture in the province. It will thus be a contribution for the benefit of all.”

Long Service AwardBilly Robson accompanied by John Kelly travelled to Lowick, Northumberland to bestow Donald W.J. Maguire with a Long Service Award. Donald was presented with an engraved medal and certificate in the home of his employer, Lowick Hall, to mark thirty seven years working in agriculture.

Donald has worked in agriculture since he left school. He began working with the Colgans in 1978 at their farm in Lisburn, Northern Ireland. He moved with his family to Lowick in 2002 when Lowick Hall Farm was purchased and he continues working there today. During his time with the Colgans, Donald has had many responsibilities from crop production to livestock.

The RUAS Long Service Award is given for approved service of not less than thirty years with one employer on the same or different holdings. The RUAS congratulates Donald on his award.

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

Action CancerBelfast Islamic CentreCancer Focus NIConnect MSDisability Action NIDrink Wise Age WellMellon Educate

National TrustNI Blood Transfusion ServiceNI Chest, Heart & StrokeNI Children’s HospiceOesophageal Patients AssociationProstate Cancer UKRBST

RSPBRural SupportTinyLifeUlster Bee Keepers AssociationWar on Want N.I.Woman’s Institiute

Contribution to Charitable Organisations

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Council statement for the year ended 31 October 2016The Summarised Financial Statements are not the full annual report and Financial Statements but contain the key information to enable the reader to gain an overview of the Society’s financial position at the 31 October 2016. 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 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 3 February 2017.

By order of the Council

C Millar

Chairman of Finance Committee

3 February 2017


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Independent auditors’ report to the trustee of Royal Ulster Agricultural Society

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 2016 and

of the group’s incoming 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 2016;• 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 Council has made a number of subjective judgements, for example in respect of significant accounting estimates. In making such estimates, it has 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 Council; 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. Other 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 CouncilAs explained more fully in the Statement of Council, its responsibilities set out on page 23-24, the Council is 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 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


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The Council presents its annual report and audited consolidated financial statements of the group for the year ended 31 October 2016. The Council has adopted the provisions of the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing its accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015 – (Charities SORP (FRS 102)), in preparing the annual report and financial statements of the charity.

Reference and administration details

Details of the registered office, elected members, independent advisors and other relevant information are given on page 5 to 8.

Details of the Society The Society The 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 is registered with the Charity Commission for Northern Ireland (Northern Ireland Charity number: NIC101946, 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. The principal activity of this company is the provision of event facilities. 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. King’s Hall Harberton Estates Limited was incorporated in November 2014 as a wholly owned subsidiary of the Society. The sole activity of this company is the management of commercial real estate activities. This company has no staff but is charged a management fee by the Society for the secondment of staff and resources.

Any surplus generated by the subsidiary companies is paid to the Society under covenant.

The Report of Council for the year ended 31 October

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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, 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 include: 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, delegation of authority and 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 members of staff for their continued loyalty, support and hard work. Organisational structureDetails of how Council is composed, and its current membership, can be seen on page 5. The 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. However, the Finance Committee has a range of delegated duties which it can action without reference to Council. During the financial year there were fifty-eight committee meetings and Council met on six occasions. Risk managementCouncil, through the Finance Committee, has established a detailed procedure to review 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 Report of Council for the year ended 31 October 2016 (continued)


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• 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 review of major risks has identified the following key risks:• The financial sustainability of the Society is dependent on the generation of enabling finance through the

commercial subsidiaries. • The need to ensure that adequate succession planning is in place for the Council & committees & key

management positions.• The need to maintain adequate levels of unrestricted reserves to ensure that the Society’s development

strategy can be implemented and that delays from third parties can be managed and were necessary mitigated.

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 combined with the annual review of the controls over key financial systems will provide sufficient resources in the event of adverse conditions. 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 is 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 management team. A formal review of the Society’s risk management process is undertaken on an annual basis.

Objectives and Activities

The 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 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.


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The Report of Council for the year ended 31 October 2016 (continued) 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 Balmoral Park to enable the venue

to host a range of concerts, cultural and sporting events. Futhermore 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. 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


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have due regard to the public benefit guidance published by the Charity Commission.

Achievements and Performance In order to deliver the Society’s objectives the following has taken place within the financial year: The 30th Royal Ulster Winter Fair, in association with Danske Bank, was held on 10th December 2015. This event is the premier indoor event for the dairy farming industry in Northern Ireland. In line with the Society’s strategy to relocate its charitable activity to Balmoral Park, the Winter Fair was held in the Eikon Exhibition Centre for the first time. In excess of 200 trade stands specifically aimed at the dairy industry showcased their products to the sector. The Eikon Exhibition Centre hosted the events Seminar Suite which hosted a range of informative talks by a range of speakers from sector specific organisations. The showmanship classes continued to be a successful element of the Winter Fair timetable and continue to encourage young people to develop high standards of agricultural husbandry. The Society held its 148th Balmoral Show during May 2016. Balmoral Show was a great success with livestock entry levels remaining high with in excess of 3,400 animals being presented for competition. The Show continued to attract large attendance. The footprint of the Show expanded to enable an increase in the number of trade exhibitors to approximately 650 including a significant presence from the plant and machinery sector.

A focus of the 2016 Balmoral Show was celebration of the ‘NI Year of Food and Drink’. Several aspects were introduced to support this including a designated outdoor catering area promoting local, artisan producers, an extended NI Food Village and a number of planting and growing displays showcasing the best of local produce.

The success of the food village continued with over 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, goats, rabbits and cavies. The venues hosted a number of agri-events during the year including:• Allams Premier Christmas Show & Cattle Sale;• Saintfield District Show;• Pedigree Calf Fair & Beef Expo NI;• Balmoral Bull Sale;• Suffolk Sheep Sale;• Balmoral Sheep Sale


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Financial ReviewThe summarised Consolidated Statement of Financial Activities on Page 25 shows net outgoing resources of £499,436 (2015: incoming £2,853,720). After recognition of unrealised gains on investments and revaluation of fixed assets the net movement in funds was a deficit of £499,436 (2015: surplus of £14,740,732).

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 generation The summarised Consolidated Statement of Financial Activities provides a detailed analysis of the income of the Society during the year.

Resources expendedThe summarised Consolidated Statement of Financial Activities discloses 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. ReservesCouncil, through its Finance Committee, reviews 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 excludes those funds held as fixed assets or restricted funds. The unrestricted liquid reserves at 31 October 2016 are £1,401,238 (2015: £290,284) which represents 4 months (2015: 1 month) of unrestricted activity. In calculating reserves, the Council has excluded from the total funds, fixed assets of £22,549,409 (2015: £24,159,795) and restricted funds of £15,515 (2015: £15,519).The Finance Committee considers that Society requires free reserves equivalent to twelve months of unrestricted activities to enable the Society to undertake the development of Balmoral Park as an international events venue for Northern Ireland. It is further required to evolve its agricultural Shows to ensure that they continue to meet the needs of the agricultural sector and to expand the educational elements of the Shows to an audience throughout Ireland.



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Funds held as Custodian trustee on behalf of others

There are no funds held as custodian trustee on behalf of others. 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. Membership of Society approved the proposal to develop the King’s Hall Complex for residential and commercial use, and reinvest in the new showground at Balmoral Park, Maze Long Kesh, Lisburn.

The Society is progressing plans for the commercial redevelopment of the Kings Hall and the associated lands. The intention is that this will provide the Society with revenue streams of enabling finance for the long term. King’s Hall Harberton Estates is engaged in the management of the disposal of lands at the Harberton end of the Complex for residential development. The profit that will be derived will be transferred under covenant to the Society and will be reinvested into the development of Balmoral Park to facilitate the charitable objectives of the Society. In line with the Society’s strategic need to generate enabling finance from its assets at Balmoral Park, the Eikon Exhibition Centre was licenced to the King’s Hall Exhibition Conference Centre Ltd. Eikon Exhibition Centre is attracting a range of exhibitions and events to the venue.

The Society intends to extend Balmoral Show to a four day event during 2017 to enable additional livestock classes to be presented and also to attract additional audiences not currently represented. The finance committee regularly considers detailed 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. Statement of Council’s responsibilitiesThe Council is responsible for preparing the Report of Council and the financial statements in accordance with applicable law and regulations. Company law requires the Council to prepare financial statements for each financial year. Under that law the Council has prepared the financial statements in accordance with United Kingdom Generally Accepted


24

Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. Under company law the Council must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the Society and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Council is 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; and• 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 adequate accounting records that are sufficient to show and explain the Society’s transactions and disclose with reasonable accuracy at any time the financial position of the Society and the group and enable it to ensure that the financial statements comply with the Industrial and Provident Societies Act (Northern Ireland) 1969. It will also be 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.

Independent Auditors The auditors, PricewaterhouseCoopers LLP, have indicated their willingness to continue in office and a resolution concerning their reappointment will be proposed at the Annual Meeting. By order of Council

C MillarChairman of the Finance Committee3rd February 2017



25

Summarised consolidated statement of financial activities for the year ended 31 October 2016

All amounts above related to continuing operations of the Society.

Restrictedfunds

£

Unrestrictedfunds

£

Total2016

£

Total2015

£Incoming resources Incoming resources from generated funds Voluntary income Members' subscriptions and donations - 51,501 51,501 52,759Activities for generating funds Commercial income - 1,132,982 1,132,982 3,801,496Other income 153 4,673 4,826 17,913Investment income - - 765

153 1,189,156 1,189,309 3,872,933Incoming resources from charitable activities Balmoral Show income - 2,144,969 2,144,969 2,046,658Winter Fair income - 251,208 251,208 256,225

- 2,396,177 2,396,177 2,302,883Total incoming resources 153 3,585,333 3,585,486 6,175,816Resources expended Costs of generating funds Expenditure relating to members’ subscriptions - 48,150 48,150 43,034Expenditure relating to commercial activity - 987,978 987,978 555,655

- 1,036,128 1,036,128 598,689Charitable activities Agricultural shows 157 2,664,556 2,664,713 2,364,908Other charitable activity support costs - 139 139 8,752

157 2,664,695 2,664,852 2,373,660Other resources expended Centralised costs - 383,942 383,942 349,747

- 383,942 383,942 349,747Total resources expended 157 4,084,765 4,084,922 3,322,096 Net incoming/(outgoing)resources before other recognised gains and losses (4) (499,432) (499,436) 2,853,720

Other recognised gains and losses:Gain on revaluation of fixed assets - - - 11,887,012Net movement in funds (4) (499,432) (499,436) 14,740,732Total funds brought forward 15,519 24,450,079 24,465,598 9,724,866Total funds carried forward 15,515 23,950,647 23,966,162 24,465,598

26

Approved by Council on 3rd February 2017.

and signed on its behalf by:

C Millar

Chairman of Finance Committee

Group Society

2016£

2015£

2016£

2015£

Fixed assets Intangible assets 2,101 4,743 2,101 4,743Tangible assets 22,547,308 24,155,052 8,730,342 8,155,052Investments - - 16,050,000 16,050,000

22,549,409 24,159,795 24,782,443 24,209795Current assets Stock 22,042 17,702 14,405 7,426Debtors 423,585 717,611 247,877 1,042,981Bank deposits 1,698,407 573,484 971,416 125,118Cash in hand 19 806 19 806Total current assets 2,144,053 1,309,603 1,233,717 1,176,331

Creditors: amounts falling due within one year (696,642) (967,257) (2,019,340) (883,985)

Net current assets 1,447,411 342,346 (785,623) 292,346Total assets less current liabilities 23,996,820 24,502,141 23,996,820 24,502,141Creditors: amounts falling due after more than one year

Deferred income (30,658) (3,613)

(32,930) (30,658) (3,613)

(32,930)

Net assets 23,966,162 24,465,598 23,966,162 24,465,598

Income funds Unrestricted 23,950,647 24,450,079 23,950,647 24,450,079Restricted 15,515 15,519 15,515 15,519Total charity funds 23,966,162 24,465,598 23,966,162 24,425,598

Summarised balance sheets at 31 October 2016


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2011 (£)

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:

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

Group and Society

Generalfunds

£

Totalfunds

£

At 1 November 2015 24,450,079 24,450,079

Net outgoing resources (499,432) (499,432)

At 31 October 2016 23,950,647 23,950,647

2016£

2015£

Income 1,132,982 3,801,496

Expenditure

Salaries and wages, labour and security 282,755 224,925

Direct expenses 587,389 131,844

Office costs 39,458 42,765

Establishment expenses 78,376 156,121

987,978 555,655

Group or Society

Balance 1 November

2015£

Movement in funds Balance 31 October

2016£

Incoming £

Outgoing £

Alex Waugh Legacy 78 1 (57) 22

The Willie and Elsie Fullerton Bequest 10,000 100 - 10,100

John Kirkpatrick Legacy 5,441 52 (100) 5,393

15,519 153 (157) 15,515

Alex Waugh Legacy Donation to the Society in memory of Alex Waugh. Memorial Medal awarded to champion Clydesdale Horse each year.

The Willie and Elsie Fullerton Bequest Willie and Elsie Fullerton bequest the sum to be invested and the income used to augment the funds of the Society.

John Kirkpatrick Legacy The annual proceeds of the legacy to be used to provide Special Prizes in the Children’s Ponies Ridden and Working Hunters Section.

Notes to the summarised financial statementsfor the year ended 31 October 2016 Commercial activity income and expenditure

message from the president - balmoral showbalmoralshow.co.uk/pdfs/2016-annual-report-low-res.pdf ·...

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