Organiser of Balmoral Show suffers £1m losses

THE organiser of the Balmoral Show has reported losses of almost £1m during the last financial year.

Covid-19 forced the Royal Ulster Agricultural Society (RUAS) to cancel last year’s showpiece event and postpone this year’s from its traditional May date to September.

It also had to cancel its Winter Fair dairy event in December.

At its recent annual meeting RUAS announced it had “returned a deficit from ordinary activities of £983,959” for the year ending October 31, 2020, and that it had been one of the most turbulent years in the history of the society.

John Martin, chairman of the RUAS finance committee, delivered the report.

It said, for the financial year, the society returned a deficit from ordinary activities of £983,959, which compares with a surplus of £992,534 in the previous year.

During the period the society incurred a net cash outflow from operating activities of £608,979 compared to an outflow of £339,840 in the previous year.

RUAS said: “The Covid-19 pandemic and associated periods of restrictions have resulted in the

‘Measures have been implemented to reduce the financial impact of pandemic’

cancellation of charitable activities in line with the prevailing regulations.

“The society has implemented a range of deficit recovery measures to reduce the financial impact of the pandemic. It also reaffirms the society’s decision to develop the King’s Hall site to generate diverse and sustainable funding streams to support the core charitable activities of the society, which remains the delivery of its agri-events.

“The society recognises its fundamental obligation to protect the health and wellbeing of staff, members, competitors, visitors, volunteers, trade exhibitors, sponsors, contractors and suppliers. The society, in accordance with its charitable objectives, has confirmed its intention to run agricultural shows in future periods subject to the prevalence of the pandemic and associated restrictions at the time.”

It expressed optimism it can come through a “very challenging” period “intact and in a position to continue its beneficial work in line with its charitable objectives”.

RUAS confirmed the Balmoral Show is scheduled to take place from Wednesday, September 22 to Saturday, September 25.