— 4% , > Hampshire; Down (5g sico st Association
THE
HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
Company Limited by Guarantee
UNAUDITED FINANCIAL STATEMENTS 31 AUGUST 2021
Company Registration Number: 31195 Charity Registration Number: 1058398
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2021
| PAGE | |
|---|---|
| Trustees’ annual report(incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 7 |
| Statementoffinancial activities (including income and expenditure account) | 8 |
| Statementoffinancial position | 9 |
| Notestothefinancialstatements | 10 |
THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL. REPORT (INCORPORATING THE DIRECTOR'S REPORT)
YEAR ENDED 31 AUGUST 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name The Hampshire Down Sheep Breeders Association Charity registration number 1058398 Company registration number 31195 Principal office and registered Equitable House office 55 Pellon Lane Halifax West Yorkshire HX1 SSP THE TRUSTEES Mrs J M Galbraith - President Mr R A Rundle - Vice President Mr R J Vincent - Treasurer Mr D D Middleditch Mr J Barnard Dr S A Jones Miss C. Lake Mr P FJ Meredith (Resigned 31 October 2020) Mr R McFarlane Mr J T Birkwood Mr H C Derryman Mrs A H Halcrow (Resigned 31 October 2020) Mr T Hunter Mr K P McCarthy Mrs EMT Jones (Resigned 31 October 2020) Mr JIS Mercer Mr R Small Mr G K Todd Mr H Elsden Mr A McFadden Mr A Jones Mr'S J R Short Mrs L S J Heywood Mr C R Hurst Mr S Harries (Appointed 31 October 2020) Mr E Brant (Appointed 31 October 2020) Mr D Henderson (Appointed 31 October 2020)
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 31 AUGUST 2021
COMPANY SECRETARY Mrs J Hill INDEPENDENT EXAMINER SR Shacklock FCA Equitable House 55 Pellon Lane Halifax West Yorkshire HX1 5SP
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION COMPANY LIMITED BY GUARANTEE TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
(continued)
YEAR ENDED 31 AUGUST 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 3 April 1890 and registered as a charity on 1 October 1996. The Company was established under a Memorandum of Association which established the objects and powers. of the charitable company and is governed under the Articles. of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Recruitment and appointment of trustees
The directors of the company are also charity trustees for the purposes of charity law.
The number of Trustees (Council Members) shall not be Jess than 12 nor more than 24 including the President and Vice-President if either ofthem is not already a member of the Council. The only member eligible to. stand as a Trustee is an individual or a director of a corporate member who is a full member. A full member is one who is entitled to vote at General meetings of the Association. Trustees are appointed at an Annual General Meeting-and shall retire from office at the Annual General Meeting held in the third year after appointment. A retiring Trustee shall be eligible for re-election.
The Council of Management are recruited from within the membership of the HDSBA and are recruited to address a specific need that the organisation may have at that time.
Trustee induction and training
The President and Secretary are responsible for guiding new trustees in their responsibilities. At the first trustees meeting after the Annual General Meeting, all trustees are reminded of their responsibilities and new trustees provided with a copy of CC3: Responsibilities of the Charity Trustees and a copy of the company's Memorandum and Articles of Association.
Risk management
The Management Committee has conducted a review of the major risks to which the Charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the Charity faces and additional policies are being put in place where required.
Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects.
Covid-19
The effects of Covid-19 has resulted in the Charity not be able to stage shows, and sales have been held online. The secretaries already work from home and council meetings have been held online. These changes have resulted in a net savings to the Charity and as a result the financial impact on the Charity is quite low. However, the trustees are continually monitoring the risks to beneficiaries and the financial implications and adapting where appropriate to the changing circumstances.
Organisational structure
The Charity is organised so that the Trustees (Council of Management) meet at least four times a year to manage its affairs. Various committees covering different aspects of the Charity's work provide detailed recommendations to assist Council's decision making.
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
(continued)
YEAR ENDED 31 AUGUST 2021
Each member entitled to vote at a General Meeting of the Charity shall have one vote for each vacancy and the person or persons in whose favour the most votes are cast shall be deemed to have been appointed or re-appointed to Council. The result of the baflot shall be read out at the Annual General Meeting. Subject as aforesaid any tie shall be decided by lot to be held at such time and in such manner as Council may decide.
The-day to day management of the Charity is delegated to the secretary.
OBJECTIVES AND ACTIVITIES
The Charity's object and its principal activity continue to be that of breed society functions in recording pedigrees of Hampshire Down sheep and to promote the science and practice of agriculture by the encouragement of breeding of Hampshire Down sheep at home and abroad. The Charity also undertakes research in the subject of sheep breeding, wool production and matters relating thereto.
Public Benefit Statement
The Trustees are aware of their obligations to ensure the activities of the Charity are in line with the Public Benefit guidance and regulations as published by the Charity Commission. The trustees feel that the above objectives satisfy this principle and that in reality the activities undertaken have borne this out.
The Charity's work has supported the education of its beneficiaries resulting in their improved knowledge and performance, better placing them to succeed both on a mentally stimulating and also economic basis,
The work of the Trustees contributes to the wider education of those members of society who have.an interest in the production of an environmentally sensitively produced and healthy source of protein.
ACHIEVEMENTS AND PERFORMANCE
The experience of developing new ways of working last year within the restrictions of the Covid-19 pandemic has stood the society in good stead this year. Council meetings have continued online and the work of the Charity has gone ahead unrestricted.
The 2020 autumn sales and the 2021 premier sales were live but the addition of the ability to view and bid online widened the potential pool of purchasers resulting in both good prices and clearances. In fact, the breed record for the highest price animal was broken twice at the premier sale and now stands at 5,200 guineas (previously 3,000 guineas). It also meant that our Northern Irish members could sell virtually thus getting over the issues with unsold sheep returning home after the changes brought by Brexit, The premier sale once again had an online catalogue which was widely viewed and helped to promote the breed.
Brexit bought additional challenges and meant the loss of our Southern Irish members who chose to forma new society due to the problems brought by our separation from Europe. Despite the loss of these members the Charity has still experienced growth in membership numbers due to the increasing popularity of the breed in the UK.
An ambitious marketing plan saw 20,000 leaflets advertising the breed land on farm. tables throughout the UK within the Farmers Guardian with a follow up email campaign to reinforce the breed's main
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
(continued)
YEAR ENDED 31 AUGUST 2021
unique selling point, which is that they are fast finishing. Social media has been used to great effect with an increasing number of stories demonstrating the value of using Hampshire Down rams on commercial farms becoming available and being circulated via Facebook, Twitter and Instagram. The Agriculture and Horticulture Development Board's Ram Compare progeny trial again returned some great results for the breed. with four out of the top six sires fathering the fastest finishing lambs being Hampshire Downs.
Although it is early days, these campaigns seem to be bearing fruit with good clearances and improved prices at the autumn ram sales up to date.
Increasing interest in UK Hampshire Down genetics abroad and especially in South America has been pursued with the production of an export catalogue of interested breeders in both English and Spanish now available on the website. The Charity has also attended a virtual conference in Brazil and presented at a webinar for Paraguayan farmers.
The website now includes a merchandise section with a PayPal payment system to make branded merchandise easier for members to source. A 2021 calendar was produced and proved very popular selling out very quickly.
The national show scheduled to be at Three Counties was cancelled as the show didn't go ahead due to the pandemic. In replacement the Charity held an online. show.
The Charity's commitment to education for members has been pursued online with populat and well attended webinars discussing growing lambs, lambs selection, and the export and import of sheep following Brexit. The education committee also started a private Facebook group for members to allow them to ask questions and initiate discussions in a member only space. The Charity created a social media policy to allow us to ensure the society's values were maintained online.
The split secretary's role continues to serve the society exceptionally well with tight financial oversight and great marketing and breeder information and engagement.
FINANCIAL REVIEW
Transactions and final position
The operating surplus for the year was £24,334 (2020 - £6,107) after taking into account the unrealised gain on investments of £10,411, (2020 - unrealised loss £4,393) and includes £3,000 restricted income, which has been added to reserves. Unrestricted reserves at the end of the year were £97,217 (2020 - £75,883) which are to be used to finance additional projects, trading in the ensuing year and as.a backup reserve. There is £3,000 (2020 - £nil) held in a restricted fund.
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued) YEAR ENDED 31 AUGUST 2021
Reserves
The trustees have examined the Charity's requirements for reserves in light of the main risks to the organisation and have established a policy whereby the unrestricted funds not committed or invested in tangible and intangible fixed assets or designated for a specific use should be maintained at a level equivalent to at least twelve month's expenditure which amounts to approximately £45,000. Council considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities while consideration is given to ways in which additional funds may be raised. Unrestricted funds are £97,217 including fixed assets of £4,314 therefore the present level of reserves available to the charity is £92,903. Whilst this is higher than current policy it is the intention of Council to look te the long term future and are continuing Public Relations and marketing campaigns, they are also mindful ofthe possible effects of Covid-19 and Brexit and consider it prudent to hold the surplus reserves at this time.
Investment policy
Aside from retaining a prudent amount in reserves each year, most of the Charity's funds are to be spent in the short term so there are few funds available for long:term investment. Surplus funds are invested with NFU Mutual.
PLANS FOR FUTURE PERIODS
The trustees will continue the work of promoting the commercial attributes of the breed and with the aim of improving demand for the breed and for the benefit of the charity's members. To this end, the trustees plan to create promotional videos and purchase new stands to refresh the breed's image in time for the NSA events restarting in 2022. In addition, it is planned to develop marketing materials for members selling lamb direct. The role ofthe association in educating its members in stock keeping and marketing skills will continue both online and hopefully with live training events in 2022. The trustees are also. investigating the use of DNA technology to enhance pedigree information and performance recording in the future.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees’ annual report was approved on 27 September 2021 and signed on behalf of the board of
trusteesMrs J by:M Galbraith President
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(pets J Hill
Charity Secretary
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"FHE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
YEAR ENDED 31 AUGUST 2021
I report to the trustees on my examination of the financial statements of The Hampshire Down Sheep Breeders. Association (‘the charity’) for the year ended 31 August 2021.
RESPONSIBILITIES AND BASIS OF REPORT
As the trustees of the company (and also its directors for the purposes of company law): you are responsible for the preparation of the financial statements 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 the 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:
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accounting records. were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those recerds; or
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the financial statements 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 ofan independent examination; or
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the financial statements 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.
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S R Shacklock FCA Independent Examiner. 2.2.2.2 ee Equitable House 55 Pellon Lane Halifax West Yorkshire HX1 SSP
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27 September 2021
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 AUGUST 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted — Restricted | |||||
| funds | funds | Totalfunds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 19,843 | 3,000 | 22,843 | 21,351 |
| Charitable activities | 6 | 31,067 | - | 31,067 | 30,240 |
| Othertrading activities | 7 | 4,041 | - | 4,041 | 3,975 |
| Investmentincome | 8 | 567 | — | 567 | 1,132 |
| Total income | 553,518 | 3,000 | 58,518 | 56,698 | |
| Expenditure | |||||
| Expenditure on charitable activities | 9,10 | 44,595 | — | 44,595 | 46,198 |
| Total expenditure | 44,595 | - | 44,595 | 46,198 | |
| Net gains/(losses)on investments | 12 | 10,411 | — | 10,411 | (4,393) |
| Net income and netmovementin | funds | 21,334 | 3,000 | 24,334 | 6,107 |
| Reconciliation offunds | |||||
| Total funds broughtforward | 75,883 | — | 75,883 | 69,776 | |
| Totalfundscarriedforward | 97,217 | 3,000 | 100,217 | 75,883 |
The statement of financial activities includes.all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 10 to 19 form part of these financial statements.
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
31 AUGUST 2021
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|||||||
|---|---|---|---|---|---|
|2021|2020|
|Note|£|£|£|£|
|FIXED|ASSETS|
|Intangible|assets|17|855|1,605|
|Tangible|fixed assets|18|3,459|3,955|
|Investments|19|68,172|47,399|
|72,486|52,959|
|CURRENT|ASSETS|
|Stocks|20|875|232|
|Debtors|21|1,962|1,142|
|Cash|at bank and|in|hand|25,923|23,060|
|28,760|24,434|
|CREDITORS:|amounts|falling due|
|within one year|22|1,029|1,510|
|NET CURRENT ASSETS|27,731|22,924|
|TOTAL ASSETS|LESS CURRENT|
|LIABILITIES|100,217|75,883|
|NET ASSETS|100,217|75,883|
|FUNDS|OF THE|CHARITY|
|Restricted|funds|3,000|-|
|Unrestricted funds|97,217|75,883|
|Total|charity funds|23|100,217|75,883|
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For the year ending 31 August 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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¢ The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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¢ The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to. accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
"These financial statements were approved by the board oftrustees and authorised for issue on™” 27 September 2021, and are signed on behalf of the board by:
PresidentMrs J M Galbraith SsRA The notes on pages 10 to 19 form part of these financial statements.
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2021
- 1, GENERAL INFORMATION
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 SSP.
- STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard. applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
ACCOUNTING POLICIES
Basis of preparation
The financial statements. have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There-are no material uncertainties about the charity's ability to continue.
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.
There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot owoous os wsnunse XChangeforeign currenciesrate as atarethe translateddateof atthethetransaction.exchange rate Monetaryruling atassets the reporting and liabilitiesdate, with-anydenominatedgainsinor . losses being taken to the statement of financial activitiés.
Fund accounting
Unrestricted funds are available for use at the discretion ofthe[ trustees][to][ further] any of[the][charity's] purposes.
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2021
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic. benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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° income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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° income from subscriptions, registrations, shows and sales are credited to income in full in the year of receipt.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings ofthe statement offinancial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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¢ expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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e other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the-activities they contribute to.on a reasonable, justifiable and consistent basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently: stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
egg
nn
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website development
- 33% reducing balance
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2021
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts-are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic fife of that asset as follows:
Fixtures and fittings
- 25% reducing balance
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is. impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The company only has financial assets and financial! liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
- LIMITED BY GUARANTEE cotta. .ach member. of the charitable. company_undertakes tocontributeto the assets of thecompanyin. “oe “oe --the-event of.it-being-wound-up:while they: are-a: member, or within one year-after-they cease-to be a member, such amount as. may be required, not exceeding £1, for the debts and liabilities contracted before they ceased to be a member.
os
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued
YEAR ENDED 31 AUGUST 2021
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||||||||||
|---|---|---|---|---|---|---|---|---|
|5.|DONATIONS AND|LEGACIES|
|Unrestricted|Restricted|Total Funds|
|Funds|Funds|2021|
|£|£|£|
|DONATIONS|
|Donations|43|3,000|3,043|
|Gift aid|2,820|~|2,820|
|SUBSCRIPTIONS|
|Subscriptions|11,293|-|11,293|
|Publicity|subscription|5,687|—|5,687|
|19,843|3,000|22,843|
|Unrestricted|Restricted|Total|Funds|
|Funds|Funds|2020|
|£|£|£|
|DONATIONS|
|Donations|545|—-|545|
|Gift|aid|2,317|-|2,317|
|SUBSCRIPTIONS|
|Subscriptions|13,121|-|13,121|
|Publicity|subscription|5,368|-|5,368|
|21,351||21,351|
|6.|CHARITABLE|ACTIVITIES|
|Unrestricted|Total|Funds|Unrestricted|Total|Funds|
|Funds|2021|Funds|2020|
|£|£|£|£|
|Shows|and|competitions|-|-|900.|900|
|Sales|entry|fees|1,738|1,738|1,388|1,388|
|Registrations,|notifications|and|
|transfers|29,096|29,096|27,912|27,912|
|AGM expenses|—|—|10|10|
|Surplus|on|sale|of merchandise|.|233|.| 233|3080|
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued
YEAR ENDED 31 AUGUST 2021
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||||||||
|---|---|---|---|---|---|---|
|7.|OTHER TRADING|ACTIVITIES|
|Unrestricted|Total|Funds|Unrestricted|Total|Funds|
|Funds|2021|Funds|2020|
|£|£|£|£|
|Sponsorships|200|200|—|-|
|100|club|204|204|193|193|
|Website|adverts|922|922|1,008|1,008|
|Flock|book|2,715|2,715|2,774|2,774|
|4,041|4,041|3,975|3,975|
|8.|INVESTMENT|INCOME|
|Unrestricted|Total|Funds|Unrestricted|Total|Funds|
|Funds|2021|Funds|2020|
|£|£|£|£|
|Income from|listed|investments|567|567|1,132|1,132|
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||||||||
|---|---|---|---|---|---|---|
|9,|EXPENDITURE ON|CHARITABLE|ACTIVITIES BY FUND|TYPE|
|Unrestricted|Total|Funds|Unrestricted|Total|Funds|
|Funds|2021|Funds|2020|
|£|£|£|£|
|Shows|and-competitions|80|80|1,203|1,203|
|HDSBA|Sales|2,240|2,240|2,869|2,869|
|Promoting|the|breed|10,798|10,798|9,258|9,258|
|Support|costs|31,477|31,477|32,868|32,868|
|44,595|44,595|46,198|46,198|
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10. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Activities|
|undertaken|Support|Totalfunds|Total|fund|
|directly|costs|2021|2020|
|£|£|£|£|
|Shows|and|competitions|80|2,057|2,137|3,305|
|HDSBA|Sales|2,240|3,818|6,058|6,772|
|vot eee|wi|even|Promoting the-breed|0|0,798|23,489|34,2870|33,270.|
|ws|ws|Governance Costs... ee|ee|ne|eee DPQ|ee|BINS|DBSP|
|13,118|31,477|44,595|46,198|
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
(contimied
YEAR ENDED 31 AUGUST 2021
| 11. | ANALYSIS OFSUPPORT COSTS | ||||
|---|---|---|---|---|---|
| Support costs | Total2021 | Total 2020 | |||
| £ | £ | £ | |||
| Communications and IT | 2,136 | 2,136 | 1,243 | ||
| General office | 1,795 | 1,795 | 2,308 | ||
| Secretarial services | 22,767 | 22,767 | 23,245 | ||
| Finance costs | 391 | 391 | 400 | ||
| Travel expenses | - | - | 385 | ||
| Insurance | 445 | 445 | 424 | ||
| Professionalfees | 1,261 | 1,261 | 1,321 | ||
| Depreciation | 1,746 | 1,746 | 1,267 | ||
| Cost oftrusteemeetings | 801 | 801 | 1,531 | ||
| NSA Subscriptions | 135 | 135 | 135 | ||
| Training expenses | - | - | 608 | ||
| 31,477 | 31,477 | 32,867 | |||
| 12. | NET GAENS/(LOSSES)ONINVESTMENTS | ||||
| Unrestricted | TotalFunds. | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Gains/(losses) on listed investments | 10,411 | 10,411 | (4,393) | (4,393) | |
| 13. | NETINCOME | ||||
| Net income is stated after charging/(crediting): | |||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Amortisation ofintangible assets | 750 | 645 | |||
| Depreciation oftangible fixed assets | 996 | 622. | |||
| Foreign exchange differences | 144 | 4 | |||
| 14. | INDEPENDENT EXAMINATION | FEES | |||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| 15, | STAFFCOSTS |
The charity did not have any employees throughout this or the previous year.
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
-15-
THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued
YEAR ENDED 31 AUGUST 2021
16. TRUSTEE REMUNERATION AND EXPENSES
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
- INTANGIBLE ASSETS
| Website | |
|---|---|
| development | |
| £ | |
| Cost | |
| At 1 September2020 and 31 August2021 | 2,250 |
| Amortisation | |
| At 1 September2020 | 645 |
| Charge forthe year | 750 |
| At31 August2021 | 1,395 |
| Carryingamount | |
| At31 August 2021 | 855 |
| At31August.2020 | 1,605 |
18. TANGIBLE FIXED ASSETS
| Office,& | |||
|---|---|---|---|
| display | Challenge | ||
| equipment | cups | Total | |
| £ | £ | £ | |
| Cost | |||
| At.1 September2020 | 13,155 | 449 | 13,604 |
| Additions | 500 | - | 500 |
| At31 August2021 | 13,655 | 449 | 14,104 |
| Depreciation | |||
| At | September 2020 | 9,649 | - |
| Charge fortheyear | 996 | - | 996 |
| At31 August2021 | 10,645 | - | 10,645 |
| Carryingamount aeg A apmigeZODL OT otgn |
gaggag | ||
| At31August 2020 | 3,506 | 449 | 3,955 |
- 16-
THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continuea
YEAR ENDED 31 AUGUST 2021
19. INVESTMENTS
| Listed | |||
|---|---|---|---|
| investments | |||
| £ | |||
| Cost orvaluation | |||
| At 1 September2020 | 47,399 | ||
| Additions Charges |
10,567 (205) |
||
| Unrealised gain | 10,411 | ||
| At31August2021 | 68,172 | ||
| Carryingamount | |||
| At 31 August2021 | 68,172 | ||
| At 31 August2020 | 47,399 | ||
| Financial assets. held atfairvalue | |||
| All investments are. valued at market value. | |||
| 20. | STOCKS | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Rosettes, merchandise andDVDs | 875 | 232 | |
| 21. | DEBTORS | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Trade debtors | 117 | 611 | |
| Prepayments and accrued income | 581 | 531 | |
| Otherdebtors | 1,264 | — | |
| 1,962 | 1,142 |
-17-
THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2021
22. CREDITORS: amounts falling due within one year
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Payments received on account | 180 | - | |||
| Trade creditors | 104 | 161 | |||
| Accruals and deferred income | 745 | 725 | |||
| Social security and othertaxes | — | 624 | |||
| 1,029 | 1,510 | ||||
| ANALYSISOF CHARITABLE FUNDS | |||||
| Unrestricted funds | |||||
| 1 Sept | Gains and | 31 Aug | |||
| 2020 | Income | Expenditure | losses | 2021 | |
| £ | £ | £ | £ | £ | |
| General funds | 75,883 | 55,518 | (44,595) | 10,411 | 97,217 |
| 1 Sept | Gains and | 31 Aug | |||
| 2019 | Income | Expenditure | losses | 2020 | |
| £ | £ | £ | £ | £ | |
| General funds | 69,776 | 56,698 | (46,198) | (4,393) | 75,883 |
| Restricted funds | |||||
| 1 Sept | Gains and | 31 Aug | |||
| 2020 | Income | Expenditure | losses | 2021 | |
| £ | £ | £ | £ | £ | |
| Filmingproject | - | 3,000 | _~ | - | 3,000 |
| 1 Sept | Gains and | 31 Aug | |||
| 2019 | Income | Expenditure | losses | 2020 | |
| £ | £ | £ | £ | £ | |
| Filmingproject | - | - | _ | - | - |
23. ANALYSIS OF CHARITABLE FUNDS
A donation of £3,000 was received in advance in respect of a filming project.
- 18-
THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE DETAILED STATEMENT OF FINANCIAL ACTIVITIES (continued
YEAR ENDED 31 AUGUST 2021
24. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Restricted | TotalFunds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Intangible assets | 855 | ~ | 855 |
| Tangiblefixed assets | 3,459 | - | 3,459 |
| Investments | 68,172 | — | 68,172 |
| Current assets | 25,760 | 3,000 | 28,760 |
| Creditors less.than 1 year | (1,029) | - | (1,029) |
| Net assets | 97,217 | 3,000 | 100,217 |
| Unrestricted | Restricted | TotalFunds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Intangible assets | 1,605 | - | 1,605 |
| Tangible fixed assets | 3,955 | - | 3,955 |
| Investments | 47,399 | — | 47,399 |
| Currentassets | 24,434 | _ | 24,434 |
| Creditors lessthan 1 year | (1,510) | - | (1,510) |
| Netassets | 75,883 | — | 75,883 |
- CAPITAL COMMITMENTS
Capital expenditure contracted for but not provided for in the financial statements is as follows:
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | |||
| Tangible | fixed | assets | 1,642 | 1,642 |
26. RELATED PARTIES
There were no disclosable related party transactions in this or the prior year.
-19-