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THE
HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
|
_ Company Limited by Guarantee UNAUDITED FINANCIAL STATEMENTS 31 AUGUST 2022
Company Registration Number: 31195 Charity Registration Number: 1058398
RE Spenser Wilson aed i che Accountants & Business Advisers
THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2022
| PAGE | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independentexaminer's report tothetrustees | “ |
| Statement offinancial activities (includingincome and expenditure account) | 8 |
| Statement offinancial 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 2022
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 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
| Registered charityname | The Hampshire Down Sheep Breeders Association | The Hampshire Down Sheep Breeders Association |
|---|---|---|
| Charity registration number | —1058398 | |
| Company registration number | 31195 | |
| Principal officeand registered | Equitable House | |
| office | 55 Pellon Lane | |
| Halifax | ||
| West Yorkshire | ||
| HX1 S5SP | ||
| The Trustees | Mr RA Rundle - President |
|
| MrC R Hurst - Vice President | ||
| MrR J Vincent - Treasurer | ||
| MrDD Middleditch | ||
| Mr J Barnard | ||
| Mrs J M Galbraith | ||
| Dr S A Jones | ||
| Miss C Lake | ||
| Mr R McFarlane | ||
| Mr J TBirkwood | ||
| MrHC Derryman | (Resigned 30 October 2021) | |
| MrTHunter | ||
| MrK P McCarthy | ||
| Mr JIS Mercer | ||
| MrR Small | (Resigned 30 October 2021) | |
| MrGK Todd | ||
| MrHElsden | ||
| MrA McFadden | ||
| MrA Jones | ||
| Mr S JR Short |
||
| Mrs LS JHeywood | ||
| MrS Harries | ||
| Mr E Brant | ||
| MrDHenderson | ||
| Mrs EB Jones | (Appointed 15 November2021) | |
| MrsHDelaney | (Appointed 15 November 2021) | |
| MrJ Caunter | (Appointed 15 November 2021) | |
| CompanySecretary | MrsJHill |
Company Secretary
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 AUGUST 2022
Bank Lloyds Bank Plc Salisbury PO Box 1000 BX1 1LT Investment advisers NFU Mutual PO Box 27142 Glasgow G2 9LS Independent Examiner S R 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) YEAR ENDED 31 AUGUST 2022
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 less than twelve nor more than twenty-four including the President and Vice-President if either of them 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 isa 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 oftheir 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.
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 Association's work provide detailed recommendations to assist Council's decision making.
Each member entitled to vote at an General Meeting of the Association 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 ballot 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.
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION COMPANY LIMITED BY GUARANTEE TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 AUGUST 2022
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 bore 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
It has been good to get back normal after covid and to see industry shows and events starting again after a period of two years.
We launched the society DNA testing scheme which is a huge step forward for the breed and this puts the breed at the forefront of the industry. This has allowed us to ask members to take DNA samples which we will be able to use to create a genomic EBV analysis in future years. We are also able to sire verify and scrapie genotype at the same time. The society has also decided to look for other causatives in the breed to see if there is anything that we should address to improve the breed. The scheme has been subsidised to allow members to test their stock rams - eventually this will become mandatory that all stock rams are DNA tested and sire verified.
The Carlisle sale in September 2021 saw brisk trading for females recognising the increased interest in the breed, this continues through to Exeter which wasa great success in it's first year as a society sale.
The Ram compare results were announced and these again saw the Hampshire topping the days to slaughter data. This is great for the breed and this information was used as part of our marketing campaign that saw 20,000 leaflets distributed with the Farmers Guardian. We have also been able to build on the ram compare results with the production of two marketing videos which are aimed at the commercial lamb producer. Ram sales have been strong to commercial farmers throughout the year and we look to continue the growth in the breed which is well placed, with increasing input costs to make an impact on the commercial sector.
In the Spring we held an education weekend which was very well received by new members to the breed and this also helped to attract new breeders and this was a great showcase for how we help to support our members.
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 AUGUST 2022
The Premier Sale was help at the end of May which was a great success and saw the top price at 2200gns and a number of commercial buyers bought rams and also a few started their own pedigree flocks. We launched our new stand at the sale which has taken a lot of work but was very well received. The stand was then used at Scot Sheep and the NSA event at Malvern with our new raised pens. The new stand has really helped increased our profile at major events and we now have a very modern stand that is is in-line with the commercial aspirations of the breed. The Summer shows started again and the breed has performed well across the country with a number of interbreed successes. National Shows were held at Armagh with 90 entries and Three Counties with 110 entries - these were great spectacles for the breed. In Northern Ireland sales were held for in-lamb ewes and rams and also an export sale which went very well with a number of animals exported.
The Autumn ram sales have been strong and this an area that we look to promote as the shop window for the breed as commercial farmers look to keep their costs down and the Hampshire is well placed to take advantage of the increased demand.
FINANCIAL REVIEW
Transactions and final position
The operating surplus for the year was £156 (2021 - £24,334) after taking into account the unrealised loss on investments of £5,105, (2021 - unrealised gain £10,411) which has been added to reserves. Unrestricted reserves at the end of the year were £97,434 (2021 - £97,217) which are to be used to finance additional projects, trading in the ensuing year and as a backup reserve. There is £2,939 (2021 - £3,000) held in a restricted fund.
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 £50,000. 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 £97,434 including fixed assets of £13,943 therefore the present level of reserves available to the charity is £83,491. Whilst this is higher than current policy it is the intention of Council to look to the long term future and are continuing public relations and marketing campaigns. Due to the present economic climate, Council consider it is prudent to hold the surplus reserves at this time.
Principal funding sources
The principal sources of income were: Subscriptions, including publicity subscription 32% (2021 — 29%) Registrations 48% (2021 — 49%) Shows and sales 7% (2021 — 3%) Trading activities 6% (2021 — 7%), Other income 7% (2021 — 12%).
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.
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
YEAR ENDED 31 AUGUST 2022
PLANS FOR FUTURE PERIODS
The Trustees will continue to develop the breed and the roll out ofthe DNA programme will continue and once we are happy with the process, this will become a mandatory requirement with sire verification being mandatory for all stock rams. We will continue to promote this in order to gain enough data to be able to create a genomic EBV in the future. We will look to further promote the commercial benefits ofthe breed and assist our members with marketing to the commercial sector. We have set up an export committee to promote the breed abroad and this will help us to help more members get involved with exports and increase the trade of UK genetics.
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 14 October 2022 and signed on behalf of the board of trustees by:
MR R A RUNDLE President
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MRS J HILL
Charity Secretary
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THE 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 2022 S-Ni—— AREER relro
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 2022.
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 records; 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 of an 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 concems 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 77
S R SHACKLOCK FCA
Independent Examiner
Equitable House 55 Pellon Lane Halifax West Yorkshire HX! 5SP
26 October 2022
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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 2022
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|---|---|---|---|---|---|---|---|---|
|2022|2021|
|Unrestricted|— Restricted|
|Note|funds£|funds£|Totalfunds- 3|Total funds5|
|Income|and|endowments|
|Donations|and|legacies|5|21,631|-|21,631|22,843|
|Charitable|activities|6|30,247|~|30,247|31,067|
|Other trading|activities|a|3,527|~|3,527|4,041|
|Investment|income|8|871|-|871|567|
|Total|income|56,276|-|56,276|58,518|
|Expenditure|
|Expenditure|on|charitable|activities|9,10|50,954|61|51,015|44,595|
|Total expenditure|50,954|61|51,015|44.595|
|Net|(losses)/gains|on|investments|12|(5,105)|-|(5,105)|10,411|
|Net income and net movement|in funds|217|(61)|156|24,334|
|Reconciliation|of funds|
|Total|funds|brought|forward|97,217|3,000|100,217|75,883|
|Total funds|carried|forward|97,434|2,939|100,373|100,217|
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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 20 form part of these financial statements.
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION (Charity Registration Number: 1058398)
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
31 AUGUST 2022 regEa
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|---|---|---|---|---|---|---|
|2022|2021|
|FIXED|ASSETS|Note|£|-|£|£|
|Intangible assets|17|6,366|855|
|Tangible|fixed|assets|18|10,516|3,459|
|Investments|19|63,711|68,172|
|80,593|72,486|
|CURRENT ASSETS|
|Stocks|20|1,611|875|
|Debtors|21|3,315|1,962|
|Cash|at bank and|in hand|17,052|25,923|
|21,978|28,760|
|CREDITORS:|amounts|falling|due|
|within|one year|22|2,198|1,029|
|NET CURRENT ASSETS|19,780|27,731|
|TOTAL|ASSETS|LESS CURRENT|
|LIABILITIES|100,373|100,217|
|NET ASSETS|100,373|100,217|
|FUNDS|OF THE CHARITY|
|Restricted|funds|2,939|3,000|
|Unrestricted|funds|97,434|97,217|
|Total|charity funds|23|100,373|100,217|
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For the year ending 31 August 2022 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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e 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 14 October 2022, and are signed on behalf of the board by:
MR RA RUNDLE President
The notes on pages 10 to 20 form part of these financial statements. tir Scale tthe mci Ts ane
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2022
- GENERAL INFORMATION
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales anda registered charity in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.
- 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 exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities.
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2022 ———————
- ACCOUNTING POLICIES (continued
Fund accounting
Unrestricted funds are available for use at the discretion ofthe trustees to further any ofthe charity's purposes.
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: - 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. - 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 of the statement of financial 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.
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2022
3. ACCOUNTING POLICIES (continued)
Amortisation
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 - 33.33% Reducing balance Marketing videos - 20% Straight line
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.
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 ofan asset, less its residual value, over the useful economic life of that asset as follows:
Office and display equipment - 25% reducing balance
Challenge cups are not depreciated
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.
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2022 eT En il are Sn cee er aha e are
3. ACCOUNTING POLICIES (continued)
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.
4. LIMITED BY GUARANTEE
Each member of the charitable company undertakes to contribute to the assets of the company in 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.
5. DONATIONS AND LEGACIES
| Unrestricted — Restricted | Unrestricted — Restricted | TotalFunds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | z | |
| DONATIONS | |||
| Donations | 50 | - | 50 |
| Giftaid | 3,279 | ~ | 3,279 |
| SUBSCRIPTIONS | |||
| Subscriptions | 12,192 | - | 12,192 |
| Publicity subscription | 6,110 | - | 6,110 |
| 21,631 | - | 21,631 | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| DONATIONS | |||
| Donations | 43 | 3,000 | 3,043 |
| Giftaid | 2,820 | - | 2,820 |
| SUBSCRIPTIONS | |||
| Subscriptions | 11,293 | ~ | 11,293 |
| Publicity subscription | 5,687 | ~ | 5,687 |
| 19.843 | 3,000 | 22,843 |
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2022
| 6. | CHARITABLE ACTIVITIES | ||||
|---|---|---|---|---|---|
| Unrestricted Total Funds | Unrestricted | Total Funds | |||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Showsand competitions | 1,060 | 1,060 | ~ | = | |
| Sales entryfees | 3,088 | 3,088 | 1,738 | 1,738 | |
| Registrations, notifications and | |||||
| transfers | 26,803 | 26,803 | 29,096 | 29,096 | |
| AGM expenses | (620) | (620) | _ | - | |
| Trainingdays andworkshops | (514) | (514) | - | - | |
| National show dinner | (216) | (216) | _ | - | |
| Surpluson sale ofmerchandise | 162 | 162 | 233 | 233 | |
| DNA test fees | 484 | 484 | - | - | |
| 30,247 | 30,247 | 31,067 | 31,067 | ||
| 7. | OTHER TRADING ACTIVITIES | ||||
| Unrestricted Total Funds | Unrestricted | Total Funds | |||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Sponsorships 100 club |
200 228 |
200 228 |
200 204 |
200 204 |
|
| Website adverts | 864 | 864 | 922 | 922 | |
| Flockbook | 2.235 | 2,235 | 2.715 | 2715 | |
| 3,527 | 3,527 | 4,041 | 4,041 | ||
| 8. | INVESTMENT INCOME | ||||
| Unrestricted Total Funds | Unrestricted | Total Funds | |||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | 5 | ||
| Incomefromlistedinvestments | 871 | 871 | 567 | 567 |
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2022 ceSe ee ee 9. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | s | £ | |
| Shows and competitions | 1,578 | ~ | 1,578 |
| HDSBA Sales | 2,351 | - | 2,351 |
| Promoting the breed | 12,965 | ~ | 12,965 |
| Support costs | 34,060 | 61 | 34,121 |
| 50,954 | 61 | 51,015 | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | 5 | £ | |
| Shows and competitions | 80 | - | 80 |
| HDSBA Sales | 2,240 | ~ | 2,240 |
| Promoting the breed | 10,798 | - | 10,798 |
| Supportcosts | 31,477 | ~ | 31,477 |
| 44.595 | = | 44,595 |
- EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly | Support costs | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Shows and competitions | 1,578 | 2,218 | 3,796 | 2.137, |
| HDSBA Sales | 2,351 | 4,121 | 6,472 | 6,058 |
| Promotingthebreed | 12,965 | 25,350 | 38,315 | 34,287 |
| Governance costs | ~ | 2,432 | 2,432 | 2,113 |
| 16,894 | 34,12] | 51,015 | 44,595 |
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued
YEAR ENDED 31 AUGUST 2022
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|---|---|---|---|---|---|---|
|Lis|ANALYSIS OF SUPPORT|COSTS|
|Total|2022|=Total|2021|
|3|£|
|Communications|and|IT|2,413|2,136|
|General|office|2,554|1,795|
|Secretarial|services|23,460|22,767|
|Finance|costs|743|391|
|Travel|expenses|194|~|
|Insurance|594|445|
|Professional|fees|863|1,261|
|Depreciation|1,833|1,746|
|Cost of trustee|meetings|1,332|801|
|NSA|Subscriptions|135|135|
|34,121|31,477|
|12.|NET (LOSSES)/GAINS ON INVESTMENTS|
|Unrestricted|Total|Funds|Unrestricted|Total|Funds|
|Funds|2022|Funds|2021|
|z|£|£|£|
|Gains/(losses)|on|listed investments|(5,105)|(5,105)|10,411|10,411|
|13.|NET INCOME|
|Net income|is|stated|after|charging/(crediting):|
|2022|2021|
|3|£|
|Amortisation|of|intangible|assets|405|750|
|Depreciation|of|tangible fixed assets|1,427|996|
|Foreign exchange|differences|12|51|
|14.|INDEPENDENT|EXAMINATION|FEES|
|2022|2021|
|£|3|
|Fees|payable to the|independent|examiner for:|
|Independent|examination of|the|financial|statements|765|745|
----- End of picture text -----
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- 16 -
THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2022
aets
15. STAFF COSTS
The charity did not have any employees through this or the previous year.
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
16. TRUSTEE REMUNERATION AND EXPENSES
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
17. INTANGIBLE ASSETS
| Website& | |
|---|---|
| marketing | |
| videos | |
| £ | |
| Cost | |
| At | September2021 Additions |
| At31 August 2022 | 8,166 |
| Amortisation | |
| At | September2021 Charge for the year |
| At31 August 2022 | 1,800 |
| Carrying amount | |
| At31 August2022 | 6,366 |
| At31August2021 | 855 |
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THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2022
==> picture [455 x 561] intentionally omitted <==
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|18.|TANGIBLE|FIXED ASSETS|
|Office &|
|display|Challenge|
|equipment|cups|Total|
|£|£|£|
|Cost|
|At|1|September 2021|13,655|449|14,104|
|Additions|8,484|-|8,484|
|At 31|August|2022|22,139|449|22,588|
|Depreciation|
|At|1|September|2021|10,645|-|10,645|
|Charge|for the|year|1,427|-|1,427|
|At|31|August|2022|12,072|-|12,072|
|Carrying amount|
|At|31|August|2022|10,067|449|10,516|
|At|31|August 2021|3,010|449|3,459|
|19.|INVESTMENTS|
|Listed|
|investments|
|£|
|Cost|or|valuation|
|At|1|September 2021|68,172|
|Additions|871|
|Charges|(227)|
|Unrealised|loss|(5,105)|
|At|31|August|2022|63,711|
|Carrying|amount|
|At|31|August 2022|63,711|
|At 31|August|2021|68,172|
|All|investments|are|valued|at market value|at|31|August|2022.|
|20.|STOCKS|
|2022|2021|
|£|£|
|Rosettes|and merchandise|1,611|875|
----- End of picture text -----
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= 12 <
THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2022 SSSesteeee cea CET OF ee 21. DEBTORS
| 2022 | 2021 | ||
|---|---|---|---|
| Tradedebtors Prepaymentsandaccruedincome Otherdebtors |
£ 38 744 2,533 |
£ 117 581 1,264 |
|
| 3,315 | 1,962 | ||
| 22. | CREDITORS: amounts falling duewithin oneyear | ||
| 2022 | 2021 | ||
| Payments receivedonaccount Tradecreditors Accrualsand deferredincome |
£ 417 912 869 |
£ 180 104 745 |
|
| 2,198 | 1,029 |
23. ANALYSIS OF CHARITABLE FUNDS
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| Generalfunds | 1 Sept2021 £ 87217 |
Income £ 56,276 |
Expenditure s (50,954) |
Gains and losses 31Aug2022 & £ (5,105) 97,434 |
| General funds | 1 Sept2020 £ 75,883 |
Income £ 55,518 |
Expenditure £ (44,595) |
Gainsand losses 31Aug2021 £ 3 10,411 97,217 |
| Restricted funds | ||||
| Filming project | I Sept2021 3 3,000 |
Income £ ~ |
Expenditure £ (61) |
Gainsand losses 31Aug2022 £ £ - 2,939 |
| Filmingproject | 1 Sept2020 £ ~ |
Income £ 3,000 |
Expenditure £ - |
Gains and losses 31 Aug2021 £ £ - 3,000 |
Restricted funds relate to a donation of £3,000 which was received towards the cost of producing the marketing videos. The videos went live on July 2022 and are being amortised over 5 years.
a
2S x
THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE DETAILED STATEMENT OF FINANCIAL ACTIVITIES (continued
YEAR ENDED 31 AUGUST 2022 erectaSe rr ea eS Eee es 24. ANALYSIS OF NET ASSETS BETWEEN FUNDS
==> picture [453 x 403] intentionally omitted <==
----- Start of picture text -----
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Funds|
|Funds|Funds|2022|
|£|=|3|
|Intangible|assets|3,427|2,939|6,366|
|Tangible|fixed|assets|10,516|-|10,516|
|Investments|63,711|-|63,711|
|Current|assets|21,978|~|21,978|
|Creditors|less|than|1|year|(2,198)|~|(2,198)|
|Net|assets|97,434|2,939|100,373|
|Unrestricted|Restricted|Total|Funds|
|Funds|Funds|2021|
|£|£|=|
|Intangible|assets|855|-|855|
|Tangible fixed|assets|3,459|-|3,459|
|Investments|68,172|~|68,172|
|Current|assets|25,760|3,000|28,760|
|Creditors|less than|||year|(1,029)|~|(1,029)|
|Net|assets|97,217|3,000|100,217|
|25.|CAPITAL COMMITMENTS|
|Capital|expenditure|contracted|for but not provided|for in the|financial|statements|is|as follows:|
|2022|2021|
|£|Pa|
|Tangible|fixed|assets|-|1,642|
|26.|RELATED|PARTIES|
|There|were no|disclosable|related|party|transactions|in|this|or the|prior year.|
----- End of picture text -----
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