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← The Hampshire Down Sheep Breeders Association

2023-08-31-accounts

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THE

HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION

Company Limited by Guarantee

UNAUDITED FINANCIAL STATEMENTS 31 AUGUST 2023

Company Registration Number: 31195 Charity Registration Number: 1058398

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THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

YEAR ENDED.31 AUGUST 2023

PAGE
Trustees’ annual report (incorporating the director's report) 1
Independent examiner's report to thetrustees az
Statement offinancial activities (including income andexpenditure account) 8
Statement offinancial position 9
Notestothefinancialstatements 10

THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 AUGUST 2023

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 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name The Hampshire Down Sheep Breeder’s 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 Mr R A Rundle — President Mr C R Hurst.- Vice President Mr R J Vincent — Treasurer Mr D D Middleditch Mr J Barnard Mrs J M Galbraith Dr S A Jones Miss C Lake Mr R McFarlane Mr J T Birkwood Mr T Hunter Mr K P McCarthy Mr J 1S Mercer Mr G K Todd Mr H Elsden Mr A McFadden Mr A Jones Mr S J R Short Mrs L S J Heywood Mr S Harries Mr E Brant Mr D Henderson Mrs E M T Jones: Mr J Caunter

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THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (NCORPORATING THE DIRECTOR'S REPORT) (continued)

YEAR ENDED 31 AUGUST 2023

Treasurer MrR Vincent
Companysecretary Mrs J Hill
Bank Lloyds Bank Plc
Salisbury
PO Box 1000
BX1 1LT
Independent examiner SR Shacklock FCA
EquitableHouse
55 Pellon Lane
Halifax
West Yorkshire
HX15SP

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THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION COMPANY LIMITED BY GUARANTEE TRUSTEES' ANNUAL REPORT (NCORPORATING THE DIRECTOR'S REPORT) (continued) YEAR ENDED 31 AUGUST 2023 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 12 nor more than 24 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 is a full member. A full member is one who is entitled to vote at General meetings ofthe 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 ofManagement 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.

Organisational structure

The Charity is organised so that the Trustees (Council of Management) meet throughout the 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 BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)

YEAR ENDED 31 AUGUST 2023

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

We have enjoyed a very strong year for the breed where we have seen increased interest inthe Hampshire Down breed from commercial lamb producers and new pedigree breeders.

The success continued in the sale ring with good sales in Stirling and Northern Ireland culminating ina very successful Premier Show and Sale at Shrewsbury which continues to go from strength to strength.

The highlight of the year was the National Show at Three Counties where there were around 150 entries of Hampshire Downs. This was a great sight to behold and a tremendous advert for the breed. Well done to all of those involved in a great event for the breed. A great National Show was also held in Northern Ireland where the breed continues to grow and this underpins the success of the lamb marketing group that. has been set up there.

The shows have been well supported across the country and this has proven to be a great shop window to promote the breed and the quality at the shows has been exceptional. It is really pleasing to see new and young breeders doing well at the shows. The breed has also had great success in Interbreed competitions across the country.

We have had a number of NSA events across the country and the new stand has taken our breed promotion to another level. The breed won the best breed society stand at the NSA South-West event. Well done to everyone across the country for the hard work in supporting these events. We have continued to make use of the breed promotional videos to great effect to reach out to commercial farmers.

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THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION COMPANY LIMITED BY GUARANTEE TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (Continued)

YEAR ENDED 31 AUGUST 2023

The Autumn sales have gone well - the ram sales at Kelso and Builth were strong and this further endorses the strong Ram compare results which the breed continues to achieve, which is getting noticed by commercial producers.

FINANCIAL REVIEW

Transactions and final position

The operating surplus for the year was £227 (2022 - £156) after taking into account the unrealised gain on investments of £291, (2022 - unrealised loss £5,105) which has been added to reserves. Unrestricted reserves at the end of the year were £98,261 (2022 - £97,434) which are to be used to finance additional projects, trading in the ensuing year and as a backup reserve. There are £2,339 (2022 - £2,939) 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 £60,000. 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 £98,261 including fixed assets of £13,475 therefore the present level of reserves available to. the charity is £84,786. 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 38% (2022 - 32%) Registrations 44% (2022 - 48%) Shows and sales 8% (2022 - 7%) Trading activities 3% (2022 - 6%), Other income 7% (2022 - 7%).

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. The balance of investments held at end of the year were £64,900 (2022 -- £63,711).

PLANS FOR FUTURE PERIODS

We are looking at continuing the commercial video production with a new Welsh language commercial video to try and increase our market share in Wales. This is potentially a very large market for the breed. An export group has been set up who are working on collecting genetics to market across the world and particularly South America where there is a huge demand for UK genetics. The DNA roll-out continues and we have had a tremendous response. From the Ist December 2023 all lambs born and registered must be by DNA tested rams. This is a great development for the breed and puts us in a great position to be able to work on a genomic analysis once we have enough data. The Hampshire Down breed are at the forefront of the industry, mainly due to numbers we are testing and the high concentration of performance data that we have.

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THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION

—_

COMPANY LIMITED BY GUARANTEE

TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)

YEAR ENDED 31 AUGUST 2023

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 25 September 2023 and signed on behalf of the board of trustees by:

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MR R A RUNDLE President

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MRS J HILL
Secretary
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THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION (continued)

YEAR ENDED 31 AUGUST 2023

I report to the trustees orl my examination of the financial statements of The Hampshire Down Sheep Breeders Association (‘the charity’) for the year ended 31 August 2023.

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, | 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 | 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 the charity as required by section 386 of the 2006 Act; or

  2. ‘the financial statements do not accord with those records; or

  3. 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

  4. 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).

[ 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 = SR Shacklock FCA Independent Examiner

.

Equitable House 55 Pellon Lane Halifax West Yorkshire HX1 5SP

10 October 2023

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THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 AUGUST 2023

2023 2022
Unrestricted —_Restricted
finds funds Totalfunds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 5 23,074 ~_ 23,074 21,845
Charitable activities 6 31,254 - 31,254 30,851
Othertrading activities 7 4,500 — 4,500 3,527
Investmentincome 8 1,148 _ 1,148 871
Totalincome 59,976 ~ 59,976 57,094
Expenditure
Expenditure on charitable activities 9,10 59,440 600 60,040 51,833
Total expenditure 59,440 600 60,040 51,833
Net gains/(losses) oninvestments 12 291 - 291 (5,105)
Netincomeandnetmovementinfunds funds 827 (600) 227 156
Reconciliation offunds
Total funds broughtforward 97,434 2,939 100,373 100,217
Totalfundscarriedforward 98,261 2,339 100,600 100,373

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 BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION

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|||||| |---|---|---|---|---| |31 AUGUST|2023| |TREE SE|nO|ii| |2023|2022| |Note|£|£|5|z| |FIXED|ASSETS| |Intangible|assets|17|4,993|6,366| |Tangible fixed|assets|18|8,482|10,516| |Investments|19|64,900|63,711| |78,375|80,593| |CURRENT ASSETS| |Stocks|20|981|1611| |Debtors|21|11,853|3,315| |Cash: at bank and.in hand|15,210.|17,052| |28,044|21,978| |CREDITORS:|amounts falling due| |within|one year|22|5,819|2,198| |NET CURRENT ASSETS|22,225|19,780| |TOTAL ASSETS LESS CURRENT| |LIABILITIES|100,600|100,373| |NET ASSETS|100,600|100,373| |FUNDS OF THE CHARITY| |Restricted funds|2,339|2,939| |Unrestricted|funds|98,261|97,434| |Total|charity funds|23|100,600|100,373|

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For the year ending 31 August 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

"

"Directors" responsibilities:

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 of trustees and authorised for issue on 25 September 2023, and are signed on behalf ofthe board by:

Mr R A Rundle President

The notes on pages 10 to 21 form part of these financial statements.

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THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2023

  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 5SP.

  1. 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 as a going concern.

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 BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 AUGUST 2023

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 asa 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:

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 BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 AUGUST 2023

  1. ACCOUNTING POLICIES (continued

Intangible assets (continied)

Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

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% 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 of an asset, less its residual value, over the useful! economic life of that asset as follows:

Office and display equipment

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.

THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 AUGUST 2023

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.

  1. 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.

  1. DONATIONS AND LEGACIES
Unrestricted Total Funds Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
DONATIONS
Donations 39 39 50 50
Gift aid 3,517 3,517 3,279 3,279
SUBSCRIPTIONS
Subscriptions 13,598 13,598 12,406 12,406
Publicity subscription 5,920 5,920 6,110 6,110
23,074 23,074 21,845 21,845

THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS écontinued)

YEAR ENDED 31 AUGUST 2023

6. CHARITABLE ACTIVITIES

Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Shows and competitions 640 640 1,060 1,060
Sales entry fees 3,854 3,854 3,088 3,088
Ewe lamb registration jpg) 7,572 6,325 6,325
Stockram registration 5,768 5,768 4,893 4,893
Transfercertificates 1,915 1,915 1,627 1,627
Birth notification 11,402 11,402 13,696 13,696
Surplus on sale ofmerchandise 103 103 162 162
31,254 31,254 30,851 30,851
7. OTHERTRADING ACTIVITIES
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Sponsorships 1,250 1,250 200 200
100 club 216 216 228 228
Website adverts 935 935 864 864
Flock book 2,099 2,099 2,235 2,235
4,500 4,500 3,527 3,527
8 INVESTMENT INCOME
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Income-fromlisted investments 1,148 1,148 871 871

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THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 AUGUST 2023

  1. EXPENDITURE ON CHARITABLE ACTIVITIES BY. FUND TYPE
Unrestricted Restricted ‘Total Funds
Funds Funds 2023
£ £ £
Shows and competitions 2,641 - 2,641
HDSBA Sales 4,207 = 4,208
Promoting the breed 16,670 ~ 16,670
Support costs 35,922 600 36,521
59,440 600 60,040
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Shows and competitions 1,794 - 1,794
HDSBA Sales 2,351 — 2,351
Promotingthe breed 12,946 ~ 12,946
Support costs 34,681 61 34,742
51,772 6] 51,833
  1. EXPENDITURE ON CHARITABLE ACTIVITIES BY. ACTIVITY TYPE
Activities
undertaken Total funds Total fund
directly Support costs 2023 2022
£ £ £ £
Shows and competitions 2,641 - 35,373 33,287
HDSBA Sales 4,208 - 4,208 2,351
Promoting the breed 16,670 = 16,670 12,946
Support costs - 32,732 32,732 34,742
Governance costs = 3,789 3,789 3,249
23,519 36,521 60,040 51,833

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THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 AUGUST 2023

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||||||||| |---|---|---|---|---|---|---|---| |11.|ANALYSIS OF SUPPORT|COSTS| |Total 2023|= Total 2022| |£|£| |Communications|and IT|1,983|2,413| |Postage|and|office|supplies|2,200|2,554| |Human|resources|23,460|23,460| |Finance|costs|505|743| |Governance|costs|830|765| |Insurance|525|594| |Professional|fees|430|97| |Depreciation|2,539|1,428| |Amortisation|1,373|405| |Cost of trustee meetings|1,886|1,334| |Bad|debts|102|-| |NSA|Subscriptions|144|135| |AGM|expenses|544|814| |36,521|34,742| |12.|NET GAINS/(LOSSES)|ON INVESTMENTS| |Unrestricted|Total|Funds|Unrestricted|Total|Funds| |Funds|2023|Funds|2022| |£|£|£|£| |Gains/(losses)|on|listed|investments|291|291|(5,105)|(5,105)| |13.|NET INCOME| |Net|income|is|stated|after|charging/(crediting):| |2023|2022| |£|£| |Amortisation of intangible|assets|1,373|405| |Depreciation|of tangible|fixed|assets|2,539|1,427| |Foreign exchange|differences|(4)|12| |14.|INDEPENDENT|EXAMINATION|FEES| |2023|2022| |£|£| |Fees|payable|to the|independent|examiner for:| |Independent|examination|of the|financial|statements|830|765|

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THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 AUGUST 2023

  1. STAFF COSTS

The charity did not have any employees through this or the previous year.

16. TRUSTEE REMUNERATION AND EXPENSES

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

However, trustees claim their expenses for any charity business.

Trustee expenses were paid to two trustees in the sum of £536 and £780 respectively, no other trustee received any expenses during the year.

17. INTANGIBLE ASSETS

Website Marketing
development videos Total
£ £ £
Cost
At 1 September2022and31 August2023 2,230 5,916 8,166
Amortisation
At 1 September2022 1,680 120 1,800
Chargeforthe year 190 1,183 1,373
At31 August2023 1,870 1,303 3,173
Carrying amount
At31 August.2023 380 4,613 4,993
At31August 2022 570 5,796 6,366

= 17s

THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (continued

YEAR ENDED 31 AUGUST 2023

18. TANGIBLE FIXED ASSETS

Office&
display Challenge
equipment cups Total
3 £ £
Cost
At 1 September 2022 22,139 449 22,588
Additions 505 - 505
At31 August2023 22,644 449 23,093
Depreciation
At 1 September 2022 12,072 = 12,072
Charge forthe year 2,539 - 2,539
At31 August2023 14,611 _ 14,611
Carryingamount
At31 August2023 8,033 449 8,482
At31 August2022 10,067 449 10,516
19. INVESTMENTS
Listed
investments
£
Cost or valuation
At 1 September2022 63,711
Additions 1,148
Investmentmanagementfee (250)
Unrealised gains 291
At31 August2023 64,900
Impairment
At 1 September2022 and31 August2023
Carryingamount
At31 August2023 64,900
At31August2022 63,711

All investments are valued at market value.

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THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 AUGUST 2023

20. STOCKS
2023 2022
£ £
Merchandise and rosettes 981 1,611
21. DEBTORS
2023 2022
£ £
Trade debtors 62 38
Prepayments and accruedincome 9,941 744
Otherdebtors 1,850 2,533
11,853 3,315
22. CREDITORS: amounts fallingdue withinoneyear
2023 2022
£ £
Payments received on account 4,989 417
Trade-creditors - 912
Accruals-and deferred income 830 869
5,819 2,198

23. ANALYSIS OF CHARITABLE FUNDS

Unrestricted funds

Gains and
Sept2022 Income Expenditure losses 31Aug 2023
£ £ £ £ £
General funds 97,434 59,976 (59,440) 291 98,261
Gains. and
1 Sept 2021 Income Expenditure losses 31 Aug 2022
£ £ £ £ D
General funds 97,217 57,094 (51,772) (5,105) 97,434

THE HAMPSHIRE DOWN SHEEP BREEDER’S ASSOCIATION COMPANY LIMITED BY GUARANTEE

NOTES TO THE DETAILED STATEMENT OF FINANCIAL ACTIVITIES (continued)

YEAR ENDED 31. AUGUST 2023

Restricted funds

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Gains|and| |1|Sept 2022|Income|Expenditure|losses.|31|Aug 2023| |£|£|£|£|£| |Filming project|2,939|-|(600)|-|2,339| |Gains|and| |1|Sept 2021|Income|Expenditure|losses|31|Aug 2022| |£|£|£|£|£| |Filming|project|3,000|-|(61)|~|2959| |Restricted|funds|relate|to a donation of a donation of of|£3,000|which was was|received|in|respect of of|the filming filming|project| |which went|live on on|July|2022,|the videos are being amortised videos are being amortised are being amortised being amortised amortised|over 5 years. 5 years. years.| |ANALYSIS|OF NET ASSETS NET ASSETS ASSETS|BETWEEN FUNDS FUNDS| |Unrestricted|Restricted|Total Funds| |Funds|Funds|2023| |£|£|£| |Intangible|assets|2,654|2,339|4,993| |Tangible|fixed|assets|8,482|-|8,482| |Investments|64,900|—|64,900| |Current|assets|28,044|-|28,044| |Creditors|less than|1|year|(5,819)|-|(5,819)| |Net|assets|98,261|2,339|100,600| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2022| |£|£|£| |Intangible|assets|3,427|2,939|6,366| |Tangible fixed assets|10,516|~|10,516| |Investments|63,711|o|63,711| |Current|assets|21,978|-|21,978| |Creditors|less|than|||year|(2,198)|-|(2,198)| |Net assets|97,434|2,939|100,373|

----- End of picture text -----

Restricted funds relate to a donation of a donation of of £3,000 which was was received in respect of of the filming filming project which went live on on July 2022, the videos are being amortised videos are being amortised are being amortised being amortised amortised over 5 years. 5 years. years.

24. ANALYSIS OF NET ASSETS NET ASSETS ASSETS BETWEEN FUNDS FUNDS

  1. RELATED PARTIES

There were no disclosable related party transactions in this or the prior year.