This year’s West Mid Show should never have gone ahead as officials were facing a cash crisis running into thousands of pounds nine months before the event took place, a leading member of the society claimed today.

Life member John Gittins claimed the Shropshire and West Midlands Agricultural Society, which runs the show, was facing a deficit of £42,000 in October last year.

He criticised the recent handling of the society’s finances.

The ex show council member, who served between 1978 and 1995, claimed it was also sheer good fortune that the society did not owe more than the up to £160,000 it is reported to owe to creditors and claimed a washout at this year’s event could have pushed the figure even higher.

But Keith Winter, treasurer of the society, today said the deficit on its liquid assets – accounts or securities that can be easily converted to cash at little or no loss of value – was £18,672 and not £42,000 as Mr Gittins claims.

Mr Gittins, of Ruyton-XI-Towns, near Oswestry, said he believed bosses should have taken the decision to wind up the society in October last year and end the show with “dignity”.

He said: “From 2007/08 the show income was down by over £100,000. But the people who decided to have another show this year made a poor decision.

“On October 31, 2008, when they would have been taking the decision whether to go ahead or not with this year’s show their liquid assets were minus £42,000. It virtually meant the show had no money, yet they were about to embark on a show which costs over £400,000 to put on, it was not possible.

“When you look at its history it really is appalling that it’s been allowed to end like this when it could have been closed down with some dignity.”

Mr Winter, who was appointed show treasurer in March, said: “On October 31, 2008, the balance sheet shows the deficit on the liquid assets was £18,672 but so long as the society kept trading it had got fixed assets of £219,707.”

By Russell Roberts