# **COMPANY REGISTRATION NUMBER: 00063906 CHARITY REGISTRATION NUMBER: 1000520**
## **DEXTER CATTLE SOCIETY (THE) COMPANY LIMITED BY GUARANTEE**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **David Allen**
Chartered Accountants Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **CONTENTS**
|Trustees' report|1 to 5|
|---|---|
|Independent examiner's report|6|
|Statement of financial activities|7 to 8|
|Balance sheet|9 to 10|
|Notes to the financial statements|11 to 22|
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' REPORT**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2022.
The annual report serves the purposes of both a trustees' report and a directors' report under company law.
## **OBJECTIVES AND ACTIVITIES**
The principal activities and objects of the Society are to advance the education of the public at large by registering, monitoring and exhibiting Dexter Cattle and investigating and encouraging efficient breeding of Dexter Cattle with a view to improving and increasing the numbers of the breed.
Attracting, supporting and retaining members to enable us to fulfil our objects, conserving the breed through maintaining a herd book and consistent application of support based on a basis of parent verification. Promoting and explaining our work to organisations, new breeders and the general public.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Dexter Cattle Society (The) is a charitable company limited by guarantee, incorporated on 20 October 1899 and registered as a charity in October 1990. The charitable company is governed under its Memorandum and Articles of Association dated 1 October 2020.
Trustees are appointed by the members by election following nominations from the voting membership.
The charitable company is made up of elected members, together with staff appointed by the trustees at time of appointment. Trustees are normally appointed for a 3 year term on the basis of 3 trustees stepping down each year when their terms of office expire. Provision within the Articles allows for re-appointment of trustees.
Trustees are inducted through a process of best practice. The trustees are nominated on a regional basis and selected by ordinary resolution at the AGM for the contribution, skills and expertise that they can bring to manage the organisation.
**- 1 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' REPORT (CONTINUED)**
The board of trustees administers the charity and they meet at least 4 times during the year to discuss and formulate the charity’s management policy. At the first trustees’ meeting, following the AGM in October, the board of trustees appoints the company officers for the forthcoming year. A company secretary is engaged by the board of trustees to implement agreed management policy and to be responsible for the day to day management of the charity.
## **ACHIEVEMENTS AND PERFORMANCE**
The Council have continued to work hard to turn the losses seen in recent years to a more positive financial position and will continue to do this in the future. The society made a deficit this year of £11,059 compared to a deficit last year of £10,807. They hope to improve the operations of the society and it's performance going forward. Income was down slightly this year and remains low compared to the years before Covid-19 restrictions.
Covid–19 did not have a major impact on the society, or on it’s activities in 2022. It operates remotely and members are mainly farmers whose activities continued under lockdown. It is not expected to have a major impact in the future either.
## **FINANCIAL REVIEW**
The Statement of Financial Activities on page 8 shows a net deficit of £11,059 (2021: £10,807).
The total income for the year amounted to £87,638 (2021: £92,929). The main income stream for the charity being membership income, followed by registrations.
The total expenditure for the year amounted to £98,697 (2021: £103,736). The main expenditure incurred by the charity was for office and administrative overheads and herd book costs.
Total funds carried forward at 31 December 2022 amounted to £57,452 (2021: £68,511). The results for the year and the charity's financial position at the end of the year are shown in the attached financial statements.
The trustees aim to maintain free reserves in unrestricted funds at a level equivalent to six months unrestricted charitable expenditure. The trustees consider that a level of six months unrestricted charitable expenditure is prudent.
**- 2 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' REPORT (CONTINUED)**
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
## **Trustees**
Mr S Adcock (resigned 10 October 2022) Mr A J Lochhead (resigned 10 October 2022) Miss L A McKendrick Mr C Davis (resigned 10 October 2022) Mr D J Bloomer Ms L Blackford (resigned 22 October 2022) Ms C King Ms C Bickerton Ms K Darnbrook (appointed 4 January 2023) Mr M A Black (appointed 4 January 2023)
## Mr A Ryder
**Company Secretary** Mr A **Charity Registration Number** 1000520 **Company Registration Number** 00063906
The charity is incorporated in England and Wales.
## **Registered Office**
## **Independent Examiner**
Holme House The Dale Ainstable Carlisle CA4 9RH
Alison Welton FCA David Allen Chartered Accountants Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY
**- 3 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' REPORT (CONTINUED)**
**Bankers**
NatWest Bank plc 9 The Parade Minehead TA24 5ZD
Barclays Bank plc Kenilworth 48/50 The Parade Leamington Spa CV32 4DD
## **FINANCIAL INSTRUMENTS**
The charity's activities expose it to a number of financial risks including credit risk and cash flow risk. The charity does not use derivative financial instruments.
The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates.
The charity’s principal financial assets are bank balances and cash, trade and other receivables. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
**- 4 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' REPORT (CONTINUED)**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Dexter Cattle Society (The) for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and the United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Ireland (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 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 charitable company will continue in business.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the trustees of the charity on 18 September 2023 and signed on its behalf by:
......................................... Ms C Bickerton Trustee
**- 5 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DEXTER CATTLE SOCIETY (THE) ("THE COMPANY")**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of Dexter Cattle Society (The) as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Alison Welton FCA Independent Examiner David Allen Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY
18 September 2023
**- 6 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 (INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
|||||||**Total**|
|---|---|---|---|---|---|---|
|||**Unrestricted**||**Restricted**||**2022**|
||**Note**|**£**||**£**||**£**|
|**Income from:**|||||||
|Donations and legacies|3|4,829||-||4,829|
|Charitable activities|4|82,223||-||82,223|
|Investment income|5|586||-||586|
|Total income
**Expenditure on:**||87,638||-||87,638|
|Charitable activities|6|(98,697)||-||(98,697)|
|Total expenditure||(98,697)||-||(98,697)|
|Net expenditure||(11,059)||-||(11,059)|
|Net movement in funds||(11,059)||-||(11,059)|
|**Reconciliation of funds**|||||||
|Total funds brought forward||66,436||2,075||68,511|
|Total funds carried forward|15|55,377||2,075||57,452|
**- 7 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED) (INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
|||||||**Total**|
|---|---|---|---|---|---|---|
|||**Unrestricted**||**Restricted**||**2021**|
||**Note**|**£**||**£**||**£**|
|**Income from:**|||||||
|Donations and legacies|3|5,620||-||5,620|
|Charitable activities|4|86,479||-||86,479|
|Investment income|5|830||-||830|
|Total income
**Expenditure on:**||92,929||-||92,929|
|Charitable activities|6|(103,736)||-||(103,736)|
|Total expenditure||(103,736)||-||(103,736)|
|Net expenditure||(10,807)||-||(10,807)|
|Net movement in funds||(10,807)||-||(10,807)|
|**Reconciliation of funds**|||||||
|Total funds brought forward||77,243||2,075||79,318|
|Total funds carried forward|15|66,436||2,075||68,511|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 and 2021 is shown in note 15.
**- 8 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **BALANCE SHEET AS AT 31 DECEMBER 2022**
|||**2022**|**2022**|**2021**|**2021**|
|---|---|---|---|---|---|
||**Note**|**£**||**£**||
|**Fixed assets**||||||
|Tangible assets|12||-||-|
|**Current assets**||||||
|Debtors|13|12,933||15,911||
|Cash at bank and in hand||79,130||75,724||
||||92,063||91,635|
|**Creditors: Amounts**||||||
|**falling due within one**||||||
|**year**|14||(34,611)||(23,124)|
|**Net current assets**|||57,452||68,511|
|**Net assets**|||57,452||68,511|
|**Funds of the charity:**||||||
|**Restricted income**||||||
|**funds**||||||
|Restricted funds||2,075||2,075||
|**Unrestricted income**||||||
|**funds**||||||
|Unrestricted funds||55,377||66,436||
|**Total funds**|15||57,452||68,511|
**- 9 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **BALANCE SHEET AS AT 31 DECEMBER 2022 (CONTINUED)**
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
For the financial year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 7 to 22 were approved by the trustees, and authorised for issue on 18 September 2023 and signed on their behalf by:
......................................... Ms C Bickerton Trustee
Registration number: 00063906
**- 10 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1 CHARITY STATUS**
The Society is a charitable company limited by guarantee, incorporated on 20 October 1899 and registered as a charity in October 1990. The company was established under a Memorandum of Association, which established the objects and power of the charitable company and is governed by it's Articles of Association.
The address of its registered office is: Holme House The Dale Ainstable Carlisle CA4 9RH
These financial statements were authorised for issue by the trustees on 18 September 2023.
## **2 ACCOUNTING POLICIES**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
## **Basis of preparation**
Dexter Cattle Society (The) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
**- 11 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)**
## **2 ACCOUNTING POLICIES (continued)**
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.
## **Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations are recognised when there is evidence of entitlement to the gift, receipt is probable and it's amount can be measured reliably. Income from donations received by way of subscriptions are included in the period to which they relate.
Investment income is recognised when receivable.
Income from charitable activities is derived from services provided to promote the breed.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
**- 12 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)**
## **2 ACCOUNTING POLICIES (continued)**
## **Tangible fixed assets**
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. All assets which are considered capital in nature are fixed assets regardless of cost.
## **Depreciation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
**Asset class**
Plant and machinery
**Depreciation method and rate** 20% straight line
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
**- 13 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)**
## **2 ACCOUNTING POLICIES (continued)**
## **Foreign exchange**
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Financial instruments**
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
**- 14 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)**
## **2 ACCOUNTING POLICIES (continued)**
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
**- 15 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)**
## **3 INCOME FROM DONATIONS AND LEGACIES**
||**Unrestricted**|||||
|---|---|---|---|---|---|
||||**Total**||**Total**|
||**General**||**2022**||**2021**|
||**£**||**£**||**£**|
|Donations and gifts|4,829||4,829||5,620|
||4,829||4,829||5,620|
|**INCOME FROM CHARITABLE ACTIVITIES**||||||
||**Unrestricted**|||||
||||**Total**||**Total**|
||**General**||**2022**||**2021**|
||**£**||**£**||**£**|
|Membership income|35,424||35,424||37,133|
|Herd book|4,105||4,105||1,360|
|Registrations|28,517||28,517||31,724|
|DNA testing|5,003||5,003||5,600|
|Artificial insemination|1,715||1,715||2,365|
|Transfers|5,754||5,754||6,664|
|Advertisement|345||345||442|
|Dexter beef scheme|1,360||1,360||1,191|
||82,223||82,223||86,479|
|**INVESTMENT INCOME**||||||
||**Unrestricted**|||||
||||**Total**||**Total**|
||**General**||**2022**||**2021**|
||**£**||**£**||**£**|
|Deposit account interest|586||586||830|
## **4 INCOME FROM CHARITABLE ACTIVITIES**
## **5 INVESTMENT INCOME**
**- 16 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)**
## **6 EXPENDITURE ON CHARITABLE ACTIVITIES**
|||**Unrestricted**|||||
|---|---|---|---|---|---|---|
|||||**Total**||**Total**|
|||**General**||**2022**||**2021**|
||**Note**|**£**||**£**||**£**|
|Breed promotion||3,872||3,872||406|
|Herd book costs||7,883||7,883||7,095|
|Artificial insemination||2,590||2,590||2,452|
|DNA/Chrondo||6,275||6,275||8,446|
|Linear assessment and inspection||1||1||7|
|Judges expenses and training||-||-||235|
|Groups||-||-||75|
|Allocated support costs|7|70,950||70,950||77,101|
|Governance costs|7|7,126||7,126||7,919|
|||98,697||98,697||103,736|
In addition to the expenditure analysed above, there are also governance costs of £7,126 (2021 - £7,919) which relate directly to charitable activities. See note 7 for further details.
## **7 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS**
## **Support costs allocated to charitable activities**
||**Administration**|**Administration**|**Administration**|**Total**||**Total**|
|---|---|---|---|---|---|---|
|||**costs**||**2022**||**2021**|
|||**£**||**£**||**£**|
|Office expenses||66,401||66,401||72,387|
|Travel and expenses||1,347||1,347||1,348|
|Bank charges||3,202||3,202||3,366|
|||70,950||70,950||77,101|
**- 17 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)**
## **7 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS (continued)**
## **Governance costs**
## **Unrestricted**
||||**Total**||**Total**|
|---|---|---|---|---|---|
||**General**||**2022**||**2021**|
||**£**||**£**||**£**|
|Accountancy fees||||||
|Independent examiner fees|1,193||1,193||1,513|
|Trustees remuneration and expenses|164||164||603|
|Legal and professional fees|5,769||5,769||5,803|
||7,126||7,126||7,919|
## **8 TRUSTEES REMUNERATION AND EXPENSES**
During the year the charity made the following transactions with trustees:
£164 (2021: £603) of travel expenses were reimbursed to one trustee (2021: three trustees) during the year.
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
## **9 STAFF COSTS**
The average head count of employees during the year was Nil (2021: Nil).
No employee received emoluments of more than £60,000 during the year.
## **10INDEPENDENT EXAMINER'S REMUNERATION**
|**10INDEPENDENT EXAMINER'S REMUNERATION**||||
|---|---|---|---|
||**2022**||**2021**|
||**£**||**£**|
|**Other fees to examiners**||||
|Examination-related assurance services|1,193||1,513|
**- 18 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)**
## **11TAXATION**
The charity is a registered charity and is therefore exempt from taxation.
## **12TANGIBLE FIXED ASSETS**
|**12TANGIBLE FIXED ASSETS**|||||||
|---|---|---|---|---|---|---|
|||**Plant and**|||||
|||**machinery**|||**Total**||
|||**£**|||**£**||
|**Cost**|||||||
|At 1 January 2022||2,476|||2,476||
|At 31 December 2022||2,476|||2,476||
|**Depreciation**|||||||
|At 1 January 2022||2,476|||2,476||
|At 31 December 2022||2,476|||2,476||
|**Net book value**|||||||
|At 31 December 2022||-|||-||
||||||||
|At 31 December 2021||-|||-||
||||||||
|**13DEBTORS**|||||||
|||**2022**|||**2021**||
|||**£**|||**£**||
|Trade debtors||4,474|||4,892||
|Prepayments||6,265|||8,652||
|VAT recoverable||2,194|||2,367||
|||12,933|||15,911||
**- 19 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)**
## **14CREDITORS: amounts falling due within one year**
||||||**2022**||**2021**|
|---|---|---|---|---|---|---|---|
||||||**£**||**£**|
|Trade creditors|||||21,548||9,993|
|Accruals|||||13,063||13,130|
||||||34,611||23,123|
|**15FUNDS**||||||||
||||||||**Balance at**|
||**Balance at 1**||||||**31**|
||**January**||||||**December**|
||**2022**||**Income**||**Expenditure**||**2022**|
||**£**||**£**||**£**||**£**|
|**Unrestricted funds**||||||||
|General|66,436||87,638||(98,697)||55,377|
|**Restricted funds**|2,075||-||-||2,075|
|**Total funds**|68,511||87,638||(98,697)||57,452|
||||||||**Balance at**|
||||||**Balance at 1**||**31**|
||||||**January**||**December**|
||||||**2022**||**2022**|
||||||**£**||**£**|
|**Restricted funds**||||||||
|Genetics research project|||||1,594||1,594|
|Childrens project|||||481||481|
||||||2,075||2,075|
**- 20 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)**
## **15FUNDS (continued)**
|**15FUNDS (continued)**||||||||||
|---|---|---|---|---|---|---|---|---|---|
||||||||||**Balance at**|
||**Balance at 1**||||||||**31**|
||**January**||||||||**December**|
||**2021**||**Income**||**Expenditure**||||**2021**|
||**£**||**£**||**£**||||**£**|
|**Unrestricted funds**||||||||||
|General|77,243||92,929||(103,736)||||66,436|
|**Restricted funds**|2,075||-||||-||2,075|
|**Total funds**|79,318||92,929||(103,736)||||68,511|
||||||||||**Balance at**|
||||||**Balance at**||**1**||**31**|
||||||**January**||||**December**|
||||||**2021**||||**2021**|
||||||**£**||||**£**|
|**Restricted funds**||||||||||
|Genetics research project||||||1,594|||1,594|
|Childrens project||||||481|||481|
|||||||2,075|||2,075|
The income funds of the charity include restricted funds comprising the unexpended balances of donations and grants held on trust for specific purposes.
**- 21 -**
## **DEXTER CATTLE SOCIETY (THE)**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)**
## **16ANALYSIS OF NET ASSETS BETWEEN FUNDS**
||||||**Total funds**|
|---|---|---|---|---|---|
||**Unrestricted**||||**at 31**|
||**funds**||**Restricted**||**December**|
||**General**||**funds**||**2022**|
||**£**||**£**||**£**|
|Current assets|89,988||2,075||92,063|
|Current liabilities|(34,611)||-||(34,611)|
|Total net assets|55,377||2,075||57,452|
||||||**Total funds**|
||**Unrestricted**||||**at 31**|
||**funds**||**Restricted**||**December**|
||**General**||**funds**||**2021**|
||**£**||**£**||**£**|
|Current assets|89,560||2,075||91,635|
|Current liabilities|(23,124)||-||(23,124)|
|Total net assets|66,436||2,075||68,511|
## **17RELATED PARTY TRANSACTIONS**
There were no related party transactions in the year.
**- 22 -**