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Annual Report 2015

Contents 1 Agenda

2 Annual Report

5 Wider purpose and Education

7 Royal Norfolk Show 2015

10 NSL Report

12 Board of Trustees Report

16 Financial Information

21 RNAA Council

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THE RNAA ANNUAL REPORT 2015

Annual General Meeting

All Vice Presidents and Members are eligible to attend. Only Vice Presidents and Members who have paid their annual subscription are eligible to vote at Annual General Meetings.

Agenda:

1 To receive the Report of the Council and Board of Trustees

together with the Statement of Accounts for the year ended 31st December 2015.

2 To propose a vote of thanks to the retiring President.

3 To receive the recommendation of Council that Professor David

Richardson, Vice-Chancellor of the University of East Anglia, be elected President for 2016.

4 To receive the recommendation of Council that the Very Reverend

Jane Hedges, The Dean of Norwich, be elected Deputy President for 2016 and President Elect for 2017.

5 To receive a Report on the election of Members to fill

vacancies on the Council arising from automatic retirement.

6 To appoint an Auditor and to authorise the Trustees to set

the remuneration thereof.

7 To receive a Report on the appointment of Honorary

Vice Presidents.

On completion of the business of the meeting: Presentation by:Mark Bowyer, Nuffield Farming Scholar

A meeting of the Association’s Council will be held at 2.15pm.

Patron Her Majesty The Queen

President Robert Carter, DL

Deputy President Professor David Richardson

Chairman Sir Nicholas Bacon Bt., OBE DL

Vice Chairman Grant Pilcher FCA

Finance Director Grant Pilcher FCA

Chief Executive Greg Smith CB QVRM TD

Show Director Julian Taylor (until July 2015)

Show and Programmes Director Mark Nicholas MBE (from Nov 2015)

Company Secretary Paul Reed (until Nov 2015)

Company Secretary Greg Smith (from Nov 2015)

Events and Shows Manager Vicki Blake

Venue and Estates Manager Stephen Hood

Finance Manager Paul Reed (until Nov 2015)

Commercial Manager Sonia Bell

Notice is hereby given that the Association’s Annual General Meeting will be held at St Walstan’s Hall, Norfolk Showground

at 11am for 11.30am on Thursday 21st April 2016.

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CHAIRMAN’S REPORT

Annual Report 2015on behalf of the Council and Board of Trustees

for the year ended 31st December 2015

The world is a funny place at the moment. Most people would probably view low oil prices as a ‘good’ thing for the economy. Equally, historically low interest rates, low inflation and a difficult and prolonged period of low growth (at best) all seem to conspire against agricultural commodity prices and this may help explain why attendance at last year’s Show was again lower than the historic average. The usual reasons for such a position are discussed over and over again by Trustees and executives. I have mentioned this subject in previous Annual Reports as a precursor to the notion that perhaps there is a fundamental shift in the way people spend their leisure time. The Royal Norfolk Show is real, full of real people, animals and exhibits. They are far from being virtual and perhaps this is the key. We need to promote the real against the virtual, the touch feely side to rural life rather than that relayed by screens across the globe. Changing attitudes is a tortuous

path and one that needs a long-term horizon and the provision of entertaining and interesting days.

I fully realise that I dwell on the RNS and there is more to follow, but it is so important in the pursuit of our charitable objectives. A well-attended and happy Show reflects upon the extent to which we can fund our charitable ventures.

2015 has been another busy year across all areas of our operations, Show and events, trading activities, longer term developments and charitable objectives.

In November, we hosted the ASAO industry conference and welcomed some 150 delegates from all parts of our industry. This was a great opportunity to share ideas, problems and opportunities but I have to say that, although many Shows have attendance issues, nonetheless the idea of fundamentally working together in relation to, for example, a national sponsorship deal remains as distant as it always has. That is a pity, but one must remember, as we all know, that farmers and the institutions which they support, in this case the Agricultural Show Associations, are intensely independent!

Improvement in agriculture has been a core objective since our formation in 1847. Today, this is best translated into knowledge exchange since we are unable directly to improve and enhance the science and practice of agriculture. We can only do this in conjunction with others. We worked with Agri-Tech East to produce a new Agricultural Innovations Zone at the Show and, later in the year, invited Lord Haskins to deliver the RNAA lecture at the John Innes Centre. As one would expect, he was thought-provoking and gave a wide ranging overview of the issues facing food production and the industry in the UK. It was encouraging to see so many members and guests during

AWARDS AND PRIZES 2015

Long Service awards were given to seventeen farm and estate workers this year. The Super Award was awarded to Henry Baker, who completed 54 years of service with Barton Hall Farm. Our Long Service Awards are kindly sponsored by Woodforde’s Norfolk Ales.

The Award of Life Fellowship of the Royal Norfolk Show was given to Jackie Hayes for all her hard work on the small livestock section of the Royal Norfolk Show. Julian Taylor was made an Honorary Vice President.The Timothy Colman Prize was awarded to Robin Baines for his work promoting the understanding of food and farming to school, youth and adult groups.

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what is now an established Agri-Tech week, a series of event across the region arranged in partnership with Agri-Tech East. Such events are a very important draw and reason to be part of the RNAA as a member. We have 3,000 members and though we always set an objective to increase that, it seems somehow to remain resolutely stuck at that figure. As we try and organise more and more events of interest to our members, perhaps that will be a fillip for their recruitment.

The Show itself was indeed hot and, at 30 degrees centigrade, probably the hottest Show that I can remember in all the time of my involvement with the Association. Eighty-one thousand visitors attended the two days, but the underlying mix changed with our paying visitors dropping by some 6,000. The financial impact was disappointing, affecting a range of income streams including parking and concessions. However, we still enjoy strong support from our exhibitors and competitors, sponsors and trade stand customers – with numbers and quality remaining a source of pride.

The fall in paying guests was offset by an upturn of the numbers of children coming in school parties, which amounted to some 9,000. This is a result of a change of strategy and to the education content of the Show, including the Discovery Zone, more trails and a more joined-up experience for school parties. All this worked exceedingly well. The financial position certainly reflects the challenging budget for growth this year and the Trustees had to sign off a deficit. It is not an easy thing to do, but we fully appreciated that this year, and probably the next as well, will be an investment year reflecting changes in staffing and systems. Although our predicted costs have not occurred as profiled, shortfalls in revenue particularly around the Show and some cost over runs will deliver a worse than planned budget result.

Our President Robert Carter has been industrious throughout the year. He and Charlotte worked tirelessly over the Show and so many of those they visited remarked on their interest and enthusiasms for particular stands. But their impact has

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CHAIRMAN’S REPORT

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been much wider. Robert has focussed on helping develop the impact of our educational activity, in particular supporting our Agri-Tech taster course for sixth form students interested in pursuing science degrees. The pilot held in September will be rolled out on a larger scale in 2016. The Carters generously opened their home to our YIELD members for an evening farm walk and supper in May and also in June to our Stewards and guests to thank them for their support.

Outside the show, we’ve also enjoyed a variety of events and activities. A blustery Spring Fling was a resounding success, with more than 6,000 visitors enjoying the displays and fun while learning about food, farming and the countryside. We continue to support the Norfolk YFC and other education-related organisations including the Nuffield Farming Scholarships Trust.

Importantly, our trading activities have continued to grow, with the Norfolk Showground now being a well-established host to a wide range of outdoor and indoor activities. This income is crucial in providing for our ability to broaden our charitable activities. In terms of people, I would like to

thank our Trustees, who put a lot of unpaid time into making sure the Association heads in the right direction, and the executive team, ably led by Greg Smith. During the year, we bade farewell to our Honorary Show Director, Julian Taylor. In November, we welcomed Mark Nicholas to take on an expanded role across the RNAA, including Show Director. Mark is settling in well and has a genuine passion for the Association – helped by the fact that he is a Norfolk boy.

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THE ROLE OF THE RNAA

Making a differenceWhile the Royal Norfolk Show remains at the heart of the

RNAA calendar, finding new ways of meeting its objectives – in short, education and encouraging agricultural

improvement – runs through all our activities

The rnaa’s own education programme has seen a variety of events delivered for Norfolk school children across the age groups. These have ranged from Potato Day – where schools taking part in the national Grow Your Own Potato scheme came to the showground to plant their own and learn more about the humble spud. The Spring Fling – in its 15th year – was blustery and oversubscribed! This highly popular Easter holiday event attracted nearly 6,000 visitors, who enjoyed the interactive activities provided by a wide range of organisations and volunteers. We continue to develop the proposition; its target is wide and perhaps in future we will focus the event more at the younger visitor without detracting from the core aim.

Our new strategy for the Royal Norfolk Show worked; 10,000 visitors came in school parties, including more than 8,500 pupils. Greeted by our school guides – Sixth form students from Norwich School – groups were sent on their way to enjoy The Discovery Zone and follow a range of tailor-made trails around the show.

Giving children the chance to join in is a key element; our new Talk Tent provided shelter from the scorching weather as well as a range of engaging and inspiring short talks. Elsewhere, music, dance and drama performances could be found on the Garage/Young Norfolk Arts Festival stage. Older pupils could follow the careers trail, where ideas and inspiration for future jobs in the land-based sector could be explored.

Beyond the Show, we have concentrated on creating new activities and shaping future strategy. In early September, the first Agri-Tech science course was run for Sixth form students, studying and considering degrees in science subjects. Two days of talks and activities at the John Innes Centre and Easton and Otley College gave these young students a great insight into science as applied to agriculture. We are very grateful to Robert Carter, RNAA President, for his determination and support and all those that took part. We plan to repeat this in 2016, on a larger scale.

MILESTONES OVER THE DECADES

1847 The Norfolk Agricultural Association is created1865 A two-day show is held1875 The present system of charging trade exhibitors is adopted1893 A three-day event is held1908 Royal warrant and prefix granted by HM King Edward VII1910 The RNAA was first to buy a permanent showground (for the 1913 Show at Dereham)1923 First display by Norfolk County Council’s education department1931 Clean milk competition launched

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THE ROLE OF THE RNAA

In the second part of the year, we have been working on a collaborative strategy commissioned by a Norfolk and Suffolk group that includes the agricultural associations, Easton and Otley College and the University of East Anglia and funded by local agri-food charities. A new report will be published in early 2016. This will take stock of all the work that is going on and look for better coordination of the many activities that promote food, farming and the countryside to schools and young people in the region. Innovating for Agri-Tech On the ‘improvement’ agenda, we continue to support Agri-Tech East, the agricultural innovation catalyst organisation. With their help we created a new Innovation Zone at the Royal Norfolk Show and, as part of the now established ‘Agri-Tech Week’, we hosted a leadership lecture. More than 100 RNAA members and guests heard Lord Haskins, former Chairman of Northern Foods and Express Dairies, speak about his experiences in the agri-food sector.

Dr Belinda Clarke, RNAA Trustee and Director of Agri-Tech East, introduced the event and highlighted the week’s activities, which focused on raising awareness of and engagement with agricultural science and new technologies. Dr Clarke explained that the purpose of Agri-Tech Week 2015 was to stimulate interactions between all elements of the agri-food value chain to generate mutual understanding and new thinking.

Agri-Tech Week started with a day at the Centre of Agricultural Informatics at Rothamsted Research based in Harpenden. Day two was spent at the Holbeach Technology Centre for Food Manufacturing, University of Lincoln and participants discussed research on crop robotics, animal welfare and new generation sequencing technologies to understand complex biological systems. At the same time, Muntons, a global maltster based in Suffolk, opened its doors for visitors who learnt how it works closely with suppliers across the east of England and the importance it attaches to research and development.

On the third day, Agri-Tech East hosted REAP 2015 in Cambridge. There was a Producers’ Panel and discussions including Resilience through Innovation.

Other topics included why the best agricultural knowledge and technologies should be available to every farmer to increase productivity potential.

The week concluded with the opening of the Eastern AgriGate Research Hub by George Freeman MP. The centre, located in the heart of the Fens is a hub of collaborative research aimed at reducing crop and food waste and improving production efficiency.

In the RNAA-hosted event, Lord Haskins said that science and technology has transformed western agriculture in Europe, North America, Australia and is increasing in the former Eastern Bloc. A drive to harness science and technology in the developing world will help to feed billions of people in the next three decades.

Charting his career in the food industry from 1962 when Northern Dairies became a supplier to M&S, he remarked how food, the industry and consumer behaviour have all changed dramatically. However, Lord Haskins said he was deeply depressed by the quality of the debate regarding food and agricultural today. “That’s why an organisation like the RNAA is so important.”

In his wide-ranging speech, he covered the EU and the referendum, environmental politics, climate change, food safety, the major food retailers and even taxation of land. Indeed, Lord Haskins didn’t pull many punches. The audience responded by asking many questions as his lecture had stimulated many areas of debate.

MILESTONES OVER THE DECADES

1946 First post-war show 1952 Showground site acquired at Costessey1954 HM Queen Elizabeth, the Queen Mother, opens the first show at Costessey1957 The Royal Show is held at Costessey1967 New £24,000 headquarters opened1972 Attendance of 89,502 and 415 trade stands

1986 In HM the Queen’s presidential year, the attendance was 96,1141997 The RNAA’s 150th anniversary2000 The first Spring Fling is held2001 Show cancelled due to the foot and mouth epidemic2006 Record attendance of 105,6292014 60th Show held at Norfolk Showground

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Visitors 81,562

E-tickets 22,579

Trade stands 676

Ice creams eaten* 58,070

*approx

THE SHOW OF THE YEAR

Royal Norfolk Show 2015High temperatures, heavy horses and splendid variety made 2015 a show to remember

as TemperaTures peaked, the 2015 Royal Norfolk Show proved to be another successful event. Just under 82,000 people attended the Show which included 8,500 school children.

The Royal Norfolk Show continues to attract top quality livestock and the packed judging programme featured a range of new classes including kid classes in the goat section and butcher’s lamb classes. A huge variety of livestock and horses descended on the showground, where more than 800 cattle, 800 sheep, 140 pigs, 90 goats and 2,000 horses took up temporary residence. Pig entries hit a 30-year high across 10 different breeds.

The prestigious Queen’s Prize was awarded in the Dairy Cattle section this year and was won by E S Burroughs & Son with their Brown Swiss cow Rebil Plaintiff Ruth. A group of four Limousin cattle won the exclusive Colman’s Interbreed Beef Championship. The Midlands and Southern Highland Cattle Club incorporated their local club show with the Highland Cattle classes, attracting plenty of entries from local breeders. Young Handlers, as always, battled it out in the ring, with 10-year-old Jessica McInnes taking the champion’s honours with her Hereford X heifer Daisy.

In the equine section, showjumping entries were up by approximately 25%

and the crowds were delighted to see Katie Jeram in action again along with two of HM The Queen’s horses: Barber Shop and Tower Bridge. The new Ridden Supreme Championship, sponsored by Leathes Prior, was won by Alistair Hood riding Jack the Giant.

Another record this year was in the number of heavy horse entries; the introduction of the Clydesdale section was very well supported in its first year and being one of only two shows in the UK with competitions for all four heavy horse breeds (Shire, Suffolk, Percheron and Clydesdale) shows the high regard the Royal Norfolk

2015 SHOW: IN NUMBERS

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CHAIRMAN’S REPORT

Show is held in the heavy horse world. Once again, the Show was privileged to host a number of Horse of the Year qualifying events.

Elsewhere at the Show, the Innovation Zone, led by Agri-Tech East, demonstrated how the latest technology is applied to farming, bringing together the latest advances in science and engineering. This fascinating new exhibit, sponsored by Larking Gowen, showcased a variety of novel approaches to farming and food production including aeroponics, seed technology, genetics, bio-fermenters and drones.

Mr Mawkin’s Farm had a new look and name for this year, but still included many favourites, from rare breed sheep and cattle to chickens, ducks and rabbits. The Rare Breed Survival Trust once again played a prominent role at the Show with the Wall of Wool, unusual Hungarian Screwhorn sheep, ET the alpaca and a Middle White sow with her litter of tiny piglets.

The Countryside area saw several new introductions this year: crowds flocked to see the pigs of Church Farm Stow Bardolph, sponsored by Wex Photographic, race around the ring in a Ham National,

cheering on favourites such as Harry Trotter, Bradley Piggins and Pigsy Malone. We were also joined by the Frilly Ghillie all the way from Dumfries and Galloway, whose display gave an insight to how Highland ponies have been used to carry stags off the Scottish Highlands since Victorian times. Visitors were also able to see traditional farriery at close hand, as more than 30 professional and apprentice competitors fought through the heat of the day and the fires in a variety of shoeing competitions.

This year’s Royal Norfolk Show provided the opportunity for more than 8,500 school children to enjoy the county’s biggest outdoor classroom. A new strategy, simplifying the booking process and removing cost barriers encouraged more schools to attend the Show since 2011. The exciting new experiences, incorporating links to some key stages of the national curriculum, made it fun for the children.

Highlights included the Discovery Zone, developed in partnership with Norfolk County Council, which incorporated technology, science and agricultural exhibits. The Genome Analysis Centre’s pea genetics display proved popular and the Happy Egg Company’s bus and electric

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THE SHOW OF THE YEAR

Rosettes 4,211

Award cards 3,281

Horses 1,612

Cattle 861

Sheep 824

Pigs 141

Goats 128

Small livestock 409

cars from BMW provided schools with the chance to get interactive while they learnt.

Eight Norwich schools that had taken part in the RNAA-supported Lunch Box Science Project displayed their work, and the Grow Your Own Potatoes competition was officially ‘weighed in’ during the Show. The winner was Warren School, Oulton Broad, weighing in a huge crop at 1,860 grams.

In the new Talk Tent – an innovative, creative performance space – inspirational guest speakers including scientists, poets, farmers and business leaders entertained school groups. More than 200 loaves of soda bread and hand-shaken butter were made by schoolchildren at the RNAA’s Over the Farmer’s Hedge exhibit. As well as watching the traditional method of milking cows, pupils were able to learn about new milk production methods at the Easton and Otley College stand.

School trails were as popular as ever, with many children taking part in the beekeeping, livestock and habitat trails. For the third year, the Careers Trail proved a success, offering 250 secondary pupils the chance to meet potential employers in the agricultural industry. While expanding the understanding of food, farming and the countryside is central to the Royal Norfolk Show, it also provides a unique opportunity for young people to think about careers in the agricultural industry.

Throughout the two days, musicians from schools and bands across the county performed on the Show’s bandstand while The Joe Ringer Band played until 10pm on

Wednesday, bringing the first day of the Royal Norfolk Show to a close.

Visitors to the Grand Ring were amazed by the extraordinary skills of the Household Cavalry’s Musical Ride and the talents of the Band of the Queen’s Division. The 2015 programme also saw the return of show favourites the RAF Falcons Parachute Display Team and the Parade of Hounds, a countryside spectacle of dogs, huntsmen and horses.

NORMAC (the Norfolk Farm Machinery Club) displayed equipment used to plant and harvest the county’s vegetables. The popular Adnam’s Food and Drink Experience revealed the cooking skills of more than 60 exhibitors and live demonstrations. The Cookery Theatre, hosted by Mary Kemp was full of tempting and tasty recipes cooked by some of Norfolk’s top chefs from the region’s top restaurants.

The retail area of the Show was again strong. Tradestand space was fully booked with 676 stands and sponsorship and prize money income was £180,398.

There were a number of visiting dignitaries to this year’s event including DEFRA Secretary of State, Rt Hon Elizabeth Truss MP, National Farmers’ Union Vice President, Minette Batters and the Army’s Chief of General Staff, General Sir Nick Carter who met with local business and education leaders.

The vital contribution of our 300 stewards must be recorded. Without them, the Show could not be delivered and we are hugely grateful to them for giving up their time to see that the Show is properly prepared and professionally delivered.

2015 SHOW: IN NUMBERS

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THE VENUE OF CHOICE

Norfolk ShowgroundNorfolk Showground Limited continues to grow in both occupancy and profit. Revenue has increased by more than £100,000 in the past two years and shows further growth in 2016. The portfolio

of events continues to increase and diversify

in 2015, new events included Norwich City College holding exams in February and June, a Jehovah’s Witness conference twice yearly in March and October and the Warner’s Caravan and Motorhome show in July. A new sporting event in September proved successful after moving from its previous venue at Open, which it had outgrown, and has since re-booked four events in 2016. The Blacklight run, a night-time 5k running event, had an excellent uptake for its first year and, despite the wet October evening, more than 4,000 participants took part. The venue and experience proved to be successful for all these events as they have all rebooked for 2016.

NSL is showing continued growth and this year we have contracted a number of our larger events on long-term deals. These include Sundown, Warners and Newday.

Looking forward to 2016, we are coming across some interesting challenges in too much demand at certain peaks of the year and not enough dates to satisfy everyone’s requirements. Where it is possible, we are using the Showground for more than one event operating at the same time and continue to juggle with dates. New contracted events in 2016 include a British Sugar conference held in February and a dog agility show in March. To celebrate the Norwich Philharmonic’s 175th Anniversary in May, we are hosting a performance of Mahler’s Eighth Symphony, ‘The Symphony of a Thousand’. Also in May, new events include Ben Burgess holding a trade event, a Hope Church Religious convention and Pretty Muddy, an extension of Race for Life.

We welcome back Truckfest in August, a huge transport event with spectacular monster truck displays which was last held at the Showground in the 1980s. In September, due to popular demand, a brand new cycling event entitled the Tour de Norfolk will start and finish within the main showground. Thousands of cyclists are expected to sign up for both the short- and long-distance rides, culminating with a festival feel at the end. In October, a comic book convention, Nor-Con, will fill the Arena with superheroes and paraphernalia. There are also other private and corporate events in the pipeline.

We continue to work with the NEC on bringing music events to the Arena. It has proven a challenging relationship due to external factors, but we continue to develop the proposal and are confident this will begin to come to fruition in 2016 with a run of dates towards the end of the year identified to host music events.

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CHAIRMAN’S REPORT

We have increased our marketing activity, using the new website and brochure to market the venue to new customers. We work closely with agencies as well as research what is happening at other venues across the country in order to market the showground further. We have recently reviewed our working relationship with our main agency Venue Finder and are now trying new techniques to ensure we are at the top of venue searches.

MacGregor business has been at a lower level than last year, but we have brought in new clients such as Stihl, who have held two demonstration meetings in July and October. Careflex, who offer mobility equipment, are also a new customer in November for a showcase

event. This is one area we feel that, due to the growing demand in this product demonstration market, we can capitalise on and will focus our marketing efforts in this area. This is also where the Venue finding agencies are most successful in finding business.

There is only one weekend date available between February and the end of November, which is a good problem to have in some ways. Occupancy of the Arena and Showground in general has increased and ‘dark days’ where the Arena is not being used have gone from 163 days in 2015 to less than 100 in 2016. The occupancy report also shows the use of St Walstan’s Hall growing and being used for 90 more days in 2015 than 2014.

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ANNUAL REPORT

Board of Trustees Report

The Board of Trustees confirm that the Annual Report and financial statements comply with current statutory requirements.

Structure, governance and managementA. ConstitutionThe Company is registered as a charitable company limited by guarantee (Company Number 1817702, Registered Charity number 289581) and was set up by a Trust deed.

The principal objectives of the Association during the year were the promotion of improvements in the breeding of livestock and plants, the invention and improvement of agricultural machines and implements, the encouragement of skills in agriculture, horticulture and allied systems of husbandry, and the encouragement of agricultural science, research and education. The principal activities and policies adopted to aid the objectives are the organisation of the Royal Norfolk Show and Spring Fling at the Association’s Showground in Costessey, and pursuit of the objectives by way of other activities including events that encourage improvement in agriculture and food production through knowledge exchange.

B. Recruitment and appointment of TrusteesThe Directors of the Company are also Charity Trustees for the purposes of charity law. Under the Company’s Articles, they are known as members of the Board of Trustees.

The Board encompasses a diverse mix of skills and experience to ensure that the interests of the company, its members, clients and customers are appropriately

represented. Trustees are appointed as a result of recommendation and interview by the principal officers of the Association.

C. Trustee induction and trainingAll Trustees are familiar with the work of the Royal Norfolk Agricultural Association. Additionally, Trustees are given induction training (including a full financial briefing and a detailed insight into the business of the Association) and provided with a copy of the Memorandum and Articles of Association, the latest Annual Report and they are offered the Charity Commission’s publication The Good Trustee Guide.

D. Organisational structureThe Association has a Board of Trustees consisting of 10 members who meet at least four times a year and who have control over the management and operation of the Association including the management and administration of the Association’s funds and assets, the maintenance and development of the Association’s land and property and the engagement of all employees and the regulation of their duties, salaries and terms of service.

Day to day responsibility for the management of the company rests with the Chief Executive and the Executive Team.

There is also a Council consisting of elected members of the Association, ex officio members and any person co-opted. The Council meets twice a year and has supervisory control over both the property and the general policy of the Association.

E. Risk managementThe Trustees have assessed the major risks to which the Company is exposed, in

The Board of Trustees, who are also directors of the charity for the purposes of the Companies Act, submit their Annual Report and

Financial Statements for the Royal Norfolk Agricultural Association (the Association) for the year ended 31 December 2015.

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ANNUAL REPORT

particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Objectives and activitiesThe objects for which the Association is established are:

A to promote improvement in the breeding of livestock and plants, in the invention and improvement of agricultural machines and implements, in the encouragement of skills in agriculture, horticulture, forestry, pisciculture, rural crafts and allied systems of husbandry and the development of all systems, techniques, methods or processes connected therewith;

B to encourage and promote agricultural science, research and education including in relation to food, farming and the countryside; and

C to advance and encourage the protection and safeguarding of the environment.

Policies and objectives

1 To bring people and business together through a range of inspiring events promoting food, farming and the countryside.

2 To educate a wider audience about the ways of the countryside, the environment, the reduction of carbon emissions to help prevent global warming and to encourage the consumption of locally produced food.

3 To contribute to the development of a strategy for the region.

Strategies for achieving objectivesThe Association seeks to achieve its objectives through the following main activities:

1 The annual Royal Norfolk Show as a showcase for best practice in agriculture, locally produced food, the countryside and the rural economy. It is the leading consumer event in East Anglia.

2 Building a substantial “enabling business” through Norfolk Showground Limited to help fund the main charity, seeking sustainable and relevant future options.

3 Developing our education and wider outreach programmes, which include the annual Spring Fling event aimed at educating children in topics concerning food, farming and the countryside.

4 Refresh and raise the Association’s profile and presence in Norfolk, creating opportunities, building relationships and encouraging collaboration.

Public benefitThe Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charitable Company’s aims and objectives and in planning future activities.

Achievements and performance• The Association’s membership stands

at 3,200 members• The Norfolk Spring Fling was held in

April and was a sell-out attracting more than 6,000 visitors; this included 1,000 in school parties.

• The Royal Norfolk Show was a success, with just under 82,000 people enjoying two excellent days at the Showground.

• Tradestand space was fully booked, with 676 stands at the Royal Norfolk Show. Sponsorship and prize money income was £180,398.

• Selected local charities and businesses received discounts on tradestands and admission tickets. In 2015, more than £65,000 of discounts were granted.

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ANNUAL REPORT

• More than 300 volunteer Stewards help run the Royal Norfolk Show. Stewards are an integral part of the Royal Norfolk Show and their contribution to the event is immeasurable.

• In addition to our events, we supported a range of educational outreach activities including the Potato’s Council (AHDB) Schools’ Initiative, attended by 123 children from nine schools, the Lunchbox Science programme run by FACE and the SAW Trust. In September, we ran the first pilot agri-tech ‘taster’ course for Sixth form science students, in conjunction with Easton and Otley College and the John Innes Centre.

• £29,295 was donated to good causes during the year, including a grant of £20,000 to the Norfolk Federation of Young Farmers’ Clubs.

• Norfolk Showground Ltd achieved a surplus of £57,001.

• Ninety other events, over 320 days, were held on the Showground during the year using facilities let to various businesses and promoters.

• We continue to work to grow our events business and attracted several new customers and events in 2015.

Financial reviewOn a consolidated basis, our overall deficit of £155,191 (unadjusted for the re-statement of investments to market value) has been influenced by the following major factors:• Total income from the Royal Norfolk

Show of £1,475,521 (2014 - £1,565,262) and significantly lower than budgeted, due principally to reduced admission and car parking revenues.

• Income from tradestands was equivalent to, and sponsorship and corporate hospitality was marginally up on, 2014. Membership subscription incomes increased to £178,150 (2014 - £155,797) due to increased numbers of members and upgrading member categories.

• Royal Norfolk Show costs were £1,195,934 (2014 - £1,145,912), with savings being made across a wide range of expenditure categories and the show was delivered within the budgeted amounts

• Norfolk Showground Limited made a profit of £57,001 (2014 - £36,508) on

income of £471,377 (2014 - £428,443), a reflection of growth in the events and rental business. We continue to secure multi-year contracts for the major events that occur at the Showground.

• Showground maintenance costs were £20,000 under budget with savings made in casual staff costs as well as repair and maintenance projects and machinery repairs.

• The Association continues to manage its costs through careful item by item budgeting, regular financial reporting, a purchase order system and frequent reviews of costs by a sub committee consisting of executive staff and Trustees.

Reserves policyThe Association has assessed that reserves of £750,000 should be maintained to cover the full overheads of the business for 12 months, in cash or other liquid assets and investments, in case the Royal Norfolk Show is cancelled in any year.

This would give the Association enough time to realise other assets should the need arise.

Investment policyUnder its constitution, the Association has the power to invest funds not immediately required for its charitable purposes.

The Trustees have considered the most appropriate policy for investing funds and concluded to maintain a balanced portfolio of listed investments to provide the maximum financial return to the charity and to invest surplus cash funds on various deposits to receive the highest rate of interest while mitigating risk and ensuring all liabilities can be met within their due dates. The Trustees are satisfied with the returns for the year.

The share portfolio is managed by Barratt and Cooke, on a discretionary basis, and reviewed annually by the Trustees.

Plans for the futureWe continue to review our ongoing investment in the Norfolk Showground as an events venue. We work with a range of third parties and promoters to achieve this. During 2015, we have received advice from NEC Group International regarding growing a music stream to our business; plans to

CHARITIES SUPPORTED AT THE

ROYAL NORFOLK SHOW 2015

Benjamin FoundationEast Coast HospiceMarie Curie Cancer CareRoyal National Mission to Deep Sea FishermenSurvivors of Bereavement Suicide

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ANNUAL REPORT

run test events to evaluate the facilities for this potential income stream were delayed.

The RNAA, in consortium with other local landowners, has been working on plans regarding the future potential development of land for housing around the village of Easton. The RNAA’s position is greatly enhanced by co-operating with these other local landowners. The RNAA’s interest in this is 10.645 ha of land to the west of the Showground (24.28% of the landowners area) predominantly used for car parking. Outline planning consent for 907 houses was granted by South Norfolk Council in June 2015, subject to judicial review and subject to agreement on S106 infrastructure requirements. The RNAA has created a new commercial entity – Norfolk Showground Developments Limited – through which any future property disposals will be made.

Statement of trustees responsibilitiesThe Trustees (who are also directors of the Royal Norfolk Agricultural Association for the purposes of company law) are responsible for preparing the Trustees’ Annual 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 Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that year. In preparing these financial statements, the Trustees are required to:• select suitable accounting policies and

then• apply them consistently;• observe the methods and principals 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 charitable group will continue in operation.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Provision for information to auditorIn so far as the Trustees are aware:• there is no relevant audit information

of which the company and the group’s auditor is unaware, and

• the Trustees 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.

In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the Trustees on 4th March 2016 and signed on its behalf by: Sir Nicholas Bacon Bt OBE DL

IN 2015, THE RNAA SUPPORTED

Norfolk Young FarmersAnimal Health TrustCambridge Vet SchoolNorfolk Farm Education LinkLove it: Eat it

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Financial Information

Trustees’ Statement The annual accounts, from which this summary has been extracted, were approved by the Board of Trustees of the Royal Norfolk Agricultural Association on 4 March 2016, have been audited and will be submitted to the Charity Commissioners and the Registrar of Companies. The auditor’s report to the Trustees on the full financial statements dated 4 March 2016 was unqualified.

These summarised accounts may not contain sufficient information to allow for a full understanding of the financial affairs of the company. For further information, the full accounts, the auditors’ report and the Trustees’ Annual Report should be consulted. Copies of these can be obtained from:The Company Secretary, Royal Norfolk Agricultural Association, Norfolk Showground, Dereham Road, Costessey, Norwich NR5 0TT.

Signed on behalf of the Board of Trustees – 4 March 2016.Sir Nicholas Bacon Bt., OBE DL

Independent Auditors Statement on the Summary Financial Statements to the Trustees of Royal Norfolk Agricultural AssociationWe have examined the summarised financial statements for the year ended 31 December 2015 set out on pages 17 to 20.

OpinionThe summary financial statements, which comprise the summary balance sheet as at 31 Decemebr 2015, the summary income statement for the year then ended and related notes are derived from the audited financial statements of Royal Norfolk Agricultural Association for the year ended 31 December 2015.

In our opinion, the accompanying summary financial statements are

consistent, in all material respects, with those audited financial statements, in accordance with International Standard on Auditing (ISA) 810 (Revised), Engagements to Report on Summary Financial Statements.

Summary Financial StatementsThe summary financial statements do not contain all the disclosures required by the Charities SORP 2015 (FRS 102). Reading the summary financial statements, therefore, is not a substitute for reading the audited financial statements of Royal Norfolk Agricultural Association. The summary financial statements and the audited financial statements do not reflect the effect of events that occurred subsequent to the date of our report on the audited financial statements.

The Audited Financial Statements and Our Report ThereonWe expressed an unmodified audit opinion on the audited financial statements in our report dated 4 March 2016.

Respective responsibilities of the Trustees and auditorThe Trustees are responsible for the preparation of a summary of the audited financial statements in accordance with applicable United Kingdom law and the recommendations of the Charities SORP.

Our responsibility is to express an opinion on the summary financial statements based on our procedures, which were conducted in accordance with International Standard on Auditing (ISA) 810 (Revised), Engagements to Report on Summary Financial Statements.

Price Bailey LLP, Chartered Accountants and Statutory Auditors, 20 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich NR7 0HR

Sources of income 2015

FINANCIAL INFORMATION

17

FINANCIAL INFORMATION

2015 2014

Note £ £ £ £INCOME Donations and Legacies 5,925 100 Charitable Activities 1,686,505 1,760,043Other Trading Activities 560,072 529,796 Investments 26,774 24,993 Other 4,335 4,840 Total Income 3 2,283,611 2,319,772 EXPENDITURE Raising Funds 78,660 67,085 Charitable Activities 2,321,628 2,301,678 Total Expenditure (2,400,288) (2,368,763)Net Losses on Investments (38,514) (20,889)Net Expenditure and Net Movement (155,191) (69,880)

in Funds for the YearTotal Funds at 1st January 2015 4,477,043 4,546,923 Total Funds at 31st December 2015 4,321,852 4,477,043

Income and Expenditure Account Consolidated Statement of Financial Activities for the Year Ended 31st December 2015

18

FINANCIAL INFORMATION

Balance sheetConsolidated Balance Sheet as at 31st December 2015

2015 2014

FIXED ASSETS Note £ £ £ £Tangible Assets 4 3,557,334 3,714,702 Investments 892,405 919,637 4,449,739 4,634,339 CURRENT ASSETS Stocks 34 1,149 Debtors 102,296 141,653 Cash at Bank and in Hand 687,092 723,953 789,422 866,755 LIABILITIES Creditors Falling Due Within One Year (401,402) (472,727) NET CURRENT ASSETS 388,020 394,028 CREDITORSAmounts Falling Due After One Year (515,907) (551,324) NET ASSETS 4,321,852 4,477,043 THE FUNDS OF THE CHARITY: Unrestricted Income Funds 4,255,711 4,407,820 Restricted Fixed Asset Funds 66,141 69,223 4,321,852 4,477,043

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1The Royal Norfolk Agricultural Association is a company limited by guarantee and is

registered as a Charity under Registration No. 289581. In the event of a winding-up, each member could become liable for an amount not exceeding £1.

2PRINCIPAL ACCOUNTING POLICIES As in previous years, the accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards.

A. Turnover represents the total amount charged for services rendered and goods sold, excluding VAT.

B. Tangible Fixed Assets are stated at cost less accumulated depreciation thereon.

C. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost less estimated residual value of each asset over its expected useful economic life. Annual rates used for this purpose are: Freehold Property – straight line 3-80 years, Plant and machinery – straight line 3-15 years.

D. The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account in the period in respect of which they are payable.

E. Donations are recognised on the earlier of receipt or invoicing, not when the amount is pledged by the donor.

3TURNOVER AND DEFICIT FOR THE FINANCIAL YEAR

These derive from the Association’s principal activities within the UK. During the year, no operations were acquired or discontinued.

Notesto the Accounts

4FIXED ASSETS See table below:

Freehold Buildings and Plant and Land Improvements Machinery Total

COST £ £ £ £As at 1st January 2015 1,193,148 5,608,283 1,485,487 8,286,918 Additions 15,719 - 49,949 65,668 As at 31st December 2015 1,208,867 5,608,283 1,535,436 8,352,586

DEPRECIATION As at 1st January 2015 45,925 3,175,440 1,350,851 4,572,216 Charge for the Year 13,881 130,612 78,543 223,036 As at 31st December 2015 59,806 3,306,052 1,429,394 4,795,252

NET BOOK VALUE As at 31st December 2015 1,149,061 2,302,231 106,042 3,557,334

As at 31st December 2014 1,147,223 2,432,843 134,636 3,714,702

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5 INVESTMENT IN SUBSIDIARY UNDERTAKINGS

Norfolk Showground Limited is a wholly owned subsidiary incorporated in England and Wales. In the year to 31st December 2014, the company covenanted to pay the whole of its profits to the Association, so leaving it with no net profit for the year. At 31st December 2014, its aggregate capital and reserves were £1,399.

5 TRUSTEE REMUNERATIONThe charity trustees were not paid

or received any other benefit from employment with the Association or its subsidiary in the year (2014 - £Nil). Neither were they reimbursed expenses during the year (2014 - £Nil). No charity trustees received payment for professional or other services supplied to the charity (2014 - £Nil).

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RNAA COUNCIL

Royal Norfolk Agricultural Association Council+ Patron Her Majesty The Queen President Robert Carter, DL Chairman Sir Nicholas Bacon Bt., OBE DL*Vice-Chairman Grant Pilcher FCA*Finance Director Grant Pilcher FCA*Chairman – Show Committee Robert More*Board of Trustees* Andrew Barnes, Roly Beazley, Francesca Broom, Dr Belinda Clarke, Steffan Griffiths, David Hill, Angela Robson* Trustees

Past Presidents1986 HM The Queen1988 The Rt Hon Lord MacGregor

of Pulham Market OBE1990 HRH the Princess Royal KG KT GCVO1991 John Bingham CBE FRS FRASE1994 HRH the Duke of Gloucester KG GCVO1995 The Earl of Leicester CBE DL1996 The Right Reverend Peter Nott1997 Sir Timothy Colman KG DCL

(and 1982)1998 Gavin Alston1999 HRH the Duke of Edinburgh KG KT OM2000 Baroness Shephard of Northwold DL2003 David Richardson OBE2004 HRH the Prince of Wales KG KT

GCB OM2005 The Right Reverend Graham James2006 Anthony Duckworth-Chad OBE DL2007 Sir Nicholas Bacon Bt OBE DL2008 General the Lord Dannatt

GCB CBE MC DL2009 Henry Cator OBE DL2010 Sir Jeremy Bagge Bt DL2011 Richard Jewson JP

HM Lord-Lieutenant of Norfolk2012 David Lawrence OBE2013 Jacob Humphrey2014 HRH the Prince Edward

Earl of Wessex KG GCVO

Tony AbelGeorge AitkenAlan AlstonGavin AlstonMike BloomWilliam BrighamJohn CarrickAdam CaseHenry Cator OBE DL David Chillingworth Roger ClarkeSarah de ChairHugh FerrierMike GambleBen GazeTony GentJohn GordonOliver Illing

Simon Macfarlane Trevor MeenArthur Mobbs David OrganDavid PapworthAndrew PledgerMichael PollittJohn PurlingAngela ReynoldsDavid Richardson OBEDavid SayerJill Scott OBE JP DL Russell StegglesPeter TannJulian TaylorBen TurnerJohn WatersDouglas Young

Head StewardsAwards Stuart SadlerCar Parks Michael CookeCatering Simon DanielsCattle Peter RoutCountryside Simon HicklingEducation Rob StorerGoats and Small Livestock Robert MoreGrand Ring Stephen HowlettHead Veterinary Officer David Stockton MRCVSHeavy Horses Christopher SelfLight Horses David SuttonPigs Nicky WallacePresident’s Steward Christopher NixPrivate Driving Justin CowlesPublic Entrance Gates Jonathan MolineuxSheep Rob RichardsonShow Jumping Nigel BloomSponsors and Corporate Jeremy RobsonTradestands Luke Lockhart

Retire 2016Ian BakerJonathan BarberBen Du BrowDavid FeakesKerry GibbMichael MackPeter MortimerCatherine ScottChristopher SelfDavid Stockton MRCVSKen Williams

Retire 2017Janice BroughtonJimmy ButlerSimon EvansNeil FosterMike GambleDavid HastingsChristine HillJim HoltHelen Reeve

Retire 2018Robert AlstonKevin BowesJeffrey BowlesFelicity DanielsDavid GuyattTim HaywardNicholas HuntIan LonsdaleLesley PenniketKen ProctorPiers ReinholdGary SallisSuzanne ScottPeter SeamanRod TuckBen Turner Jr

*Elected by Council to Board of Trustees in 2015 and eligible for immediate re-election + as at 31st December 2015

Co-optedJohn Fuller – South Norfolk District CouncilLewis Harrison – BAGMAIan Mackie – Norfolk County CouncilNicola Currie – EDGE Careers

Elected Members of the Council

Honorary Vice Presidents

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Royal Norfolk Agricultural Association Norfolk ShowgroundDereham RoadNorwich Norfolk NR5 OTT

T 01603 748931F 01603 748729

www.rnaa.org.ukRegistered Office as above

Company Limited by Guarantee No. 1817702Registered Charity No. 289581

Copyright © 2016 Royal Norfolk Agricultural Association