Hampshire Down Shccp Brceders, Associ2tioii THE HAMPSHIRE DOWN SHEEP BREEDERS ASSOCIATION Company Limited by Guarantee UNAUDITED FINANCIAL STATEMENTS 31 AUGUST 2024 Company Registration Number: 31195 Charity Registration Number: 1058398 STREETS SPENSER WILSON CHAKTEKED ACCOVNTANTS
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARAIYTEE FINANCIAL STATEI*IENTS YEAR ENDED 31 AUGUST 2024 PAGE Trustees, annual report (incoTporating the directOS reFK)rt) Independent examinevs report to the trustees Statement of financial activitie5 {including income and expenditure account) Staten)ent of fInanci p05ltion Notes to the fanCIal statements 10
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) YEAR ENDED 31 AUGUST 2024 The trustees, who are also the directors for the purposes of company law. present their report and the. unaudited financial stat¢m¢nts of th¢ Charity for the year ended 31 August 2024. REFERENCE AND ADlWtINISTRATIVE DETAILS Registered charity name The Hampshire Down Sheep Breederfs Association Charity registration number 1058398 Company registration Dumber 31195 Principal office and registered Equitable House office 55 Pellon Lane Halifax West Yorkshire HXI 5SP The Trustees Mr C R Hurst- President Mr J Barnard - Vice President Mr R A Rundle- Treasurer Mr D D Middleditch Mrs J M Galbraith Dr S A Jones Miss C Lake r R McFarlane Mr J T Birkwood Mr T Hunter Mr K P Mccarthy Mr J I S Mercer MrGKTodd Mr H Elsden Mr A McFadden Mr A Jones (Resigned 27 October 2023) (Resigned 27 October 2023)
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE TRUSTEES, AIYNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) {eonrinued) YEAR ENDED 31 AUGUST 2024 MTSJRShort Mrs L S J Heywood Mr R J Vtncent Mr S Harries Mr E Brant Mr D Henderson Mrs E M T Jones Mr J Caunter Mr Terrett Mrs S Manners Mr G Robinson Miss A E Tory (Resigned 27 October 2023) (Resigned 27 October 2023) (Appointed 27 October 2023) (Appointed 27 October 2023) (Appointcd 27 October 2023) Company Secretary Mrs J Hill Independent Examiner S R Shacklock FCA Equitable House 55 Pellon Lane Halifax West Yorkshire HXI 5SP
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE TRUSTLES, ANNUAL REPORT (INCORPOIIATING THE DIRECTOR'S REPORT) lcoiiftiiiied) YEAR ENDED 31 AUGUST 2024 STRUCTI5RE, 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 l 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 tlie Article5 of Association. In the event of the company bcing wound up Ellcmbers ar¢ rcquired to contribute an amount not exceeding £ l. Recruitment and appointment of Érustees The directors of th¢ company are also charity trustees for the purposes of charity law. The number of Truste¢s (Council Members) shall not be less than 12 nor more than 24 includin(T the President and Vice-President if either of them is not already a rnember 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 ember. 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 elioible for re_election. The Council of Management are recruited from within the membership ofthe HDSBA and are recruited to address a specific need that the organisation may have at that time. Trustee induction and traiDillg The President and Secretary are responsible for guiding new trustees in their responsibilities. At the first trustees meeting after the Annual General Meetin& all trustees are reminded oftheir responsibilities and new trustees provided with a copy of CC3.. Responsibilitics 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 ivhich the charlty is exposed. Where appropriate, systems or procedures have been established to mitigate the Tisks the charity fac¢s and addltional policies are being put in place where required. Internal risks are minitnised by the implementation of procedures for authorisation of all transactions and projects. Organisational structure The Charity is organised so that the Triistees (Council of Management) meet at least four times a year to tnanage its affairs. Various committces covering different aspects of the Association's work provide detailed recommendations to assist Council's decision making. Each member entitled to vote at an Generat Meeting of the Association shall have one vote for ¢ach vacancy and the person or persons in whos¢ 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 th¢ Annual General Meeting. Subject as aforesaid any ti¢ shall be decided by lotto 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.
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (coiilriliied) YEAR ElED 31 AUGUST 2024 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 promots the science and practice of agriculture by the encouragement of brccding of Hampshire Down sheep at home and abroad. The Charity also undertakes research in the subject of sheep breedillg, wool production and matter5 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 truste¢s feel that the above objectives satisfy this principle and that in reality the activities undertaken have borne this out. The Charitys work has supported the education of its beneficiaries resulting in their improv¢d knowledge and perforn]ance, better placing them to succeed both on a mentally stimulating and also economic basis. Th¢ work of the Trustees contributes to the wider education of those members of society who hav¢ an interest tn the production of an environmentally sensitively produced and healthy source of protein. ACHIEVEIVIENTS AND PERFORMANC£ li During the past twelve months the breed has continued to progress in line with the principles set out in the accounts for last year. The introduction of DNA testing on all ram lambs sold has been successful with a few small modifications to the scheme from when it was initially introduced. We have continued to work closely with Signet and promote the good working relationship we have with them. We encourage breeders to enrol for Signet recording where it fits with an individual management system. The Breed Developinent Committee continues to work elosely with Signet and N¢ogen to promote the breed and to maintain the Association's position at the forefront of teclmological progress. The Education Committee continues to promot¢ various initiatKv¢s which are to the benefit of the members and especially those that wish to learn more about the breed and good practices in sheep management and showing protocols. Our ShoM% Committee have promoted participation in shows and by adding a social element at some shows have encouraged new members to participate an as a breed, we welcome all new members. The Sales Committec continues to promote the breed sales which are becoming established events in the seasonal calendar. The committee have agreed a few changes to sales for next year, namely. to have all in lamb ewes at Carlisle sale scanned prior to the sale and the introduction of a n¢w sale at Stratford- on-Avon which has been organised by the Eastern Area Club. The main society sale at Shrewsbury continues to be well attended with the top price being incre&sed again this year with a good clearance rate. The PR and Marketing Committee have achieved a great deal in the year by redesigning the Black and White and renaming il Fit For The Future. Sales lflets and adverts have also been revised and full-
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE TRUSTEES, AIYNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (coiitiiuiedj YEAR ENDED 31 AUGUST 2024 page adverts have been included in the Farniers Guardian with adverts also placed in the Northern Farnier. The Finance and General Purposes Committee met in August to agree the budget and plan expenditure for th¢ next twelve months. The outcome is an exciting plan which, although seeing modest incr¢as¢s in m¢mbcrship fees, will continue to promote the breed and keep it at the forefront of the industy and on a par with other larger breed societies. The Export Liaison Group continues to promote the sale of semen abroad and is working with individual members who wish to pursue this initiative. An expN)rt catalogue is to be produced within the next few months. Once again, the Ram Compare results have strengthened the position of the breed as the best terminal sire regarding days to slaughier. These resiilts ar¢ certainly gaining traction in the commercial sheep breeding world with many more salcs of rams to commercial buyers year on year. The Association had a stand at Scot Sheep in June and at NSA Malvetn in July where the interest in the breed was noticeably greater than previous years which is PTobably on th¢ back of th¢ good Ram Compare results. The split of the secretarial roles betwe¢n our two s¢cretaries appcars to be working well and provides members with the support and back up they require. All in all the breed has made good progress V4ithin the past twelve months in lin¢ with m¢mb¢rs' expcctations and the requirements expected by Council. I have no hesitation in saying that I fully expect the Association to continue on its upward path and to continue to perfonn, or exceed, in line with out expectations. FINANCIAL REVIEW Transactions and final posilion The operating surplus for the year was £711 (2023 £227 Surplus) after taking into account the nrealised gain on investments of £7.975, (2023 - £291) which has been added to reserves. Unrestrict¢d reserves at the end of the year were £99,572 (2023 - £98,261) which are to be used to finance additional projects, trading in the ensuing year and as a backup reserve. There are £ l.739 (2023 - £2.339) held in a restricted fund. Reserves The trustees have elmIned the charity's requirements for reserves in light of the main risks to the organisation and have established a policy wbereby the unrestricted funds not committed or invested in tangible and intangible fixed assets or designated for a specific use should be maintained at a Icvel equivalent to at least twelve n]onth's expenditure which amounts to approximately £50,000. Council considers that reserves at this level will ensure tha( 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 £99,572 including fixed assets of £1 0.157 therefore the present level of reserves available to th¢ charity is £89,415. Whilst this is higher than current policy it is the intention of Council to look to the long terni future and are continuing public relations and marketing campaigns. Due to the present economic climate, Council consider it prudent to hold tlie sUlUS reserves at this time.
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIREoR's REPORT) {congitsued) YEAR ENDED 31 AUGUST 2024 Principal funding sources The principal sources of income were: Subscriptions, including publicity subscription 281/10 (2023 38 %) R¢gistrations 3 50/0 (2023 - 440/0) Shows and sales 6% (2023 - 80/0) DNA Test fees 16 % (2023 - 14%) Trading activities 6/0 (2023 - 3 /0), Other income 90/0 (2023 - 7%}. Investment policy Aside from retaining a prudent amount in reserves each year. most of the Charity's funds are to b¢ spent in the short tcrni so therc arc few funds available for long terni investsnent. Surplus funds are inV¢Sted with NFU Mutual. PLANS FOR FUTURE PEIUODS The Trustees will continue to develop the breed along similar lines to that followed in past years. In particular. the evidence gained from thc Ram Compare Scheme will be utilised to push the breed forward and to amplify the qualities highlighted in the annual results of the scheme. The trustees are committed to following a scientific approach to breed development and in particular to capitalise on the work successfully completed in the field of DNA testing. The trustees will continue to work closely with Signet to establish and record data and inforniation which will be used to further the breed's potential as a terminal breed. The sub committees will continue to be encouraged in their work to promote the breed particularly in the areas of Breed Developm¢nt, Sales. Education. Shows, PR and Marketing and, more recently. Export opportunities. To compliment this work the Trustees will be forming a five-year plan which will provide direction to th¢ sub-committees and provide an agreed agenda of the issues and opportunities the Trustees wish to follow on an annual basis and provide consistency for th¢ future which will be to the benefit of CounciI. SMALL COlPAIYy PROVISIONS This report has been prepared in accordance with the provisions applicabl¢lo companies entitled to the small companies exemption. 30 The trustees, annual report was approved on 30 September 2024 and signed on behalf of the board or trustees by". MR RARUNDLE Treasurer Cbarity Secretary
THE HAMPSHtRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HAIVIPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION YEAR ENDED 31 AUGUST 2024 I report to the trustees on my examination of the fjnancial statements of The Hampshir¢ Down Sh¢ep Breeder's Association (the charitable company,) for the y¢aT ended 31 August 2024. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of th¢ charitsble company (and also its directors for the purposes of company law) you are responsible for the preparation of the fllwicial statements in accordance with th¢ requir¢ments of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts ofthe charitable 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 th¢ charitabl¢ company's accounts as carried out under section 145 of the Charittes 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. INDEPENDEIYT ExA1[ER,s STATEME I have completed my examination. I confIrtn that no matters bave cnme to my attention in connectlDn with the examination giving me cause to believe: accounting records were not kept in respect of the charitable Company as required by section 386 of the 2006 Actr, or the financial statements do not accord with those records" or 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 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accoiinting and reporting by charities applicabLe to charities preparing their accounts in accordanc¢ with thc Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I hav¢ no concerns and have come across no other matters in connection wi-th the examination to which attention should be drawn in this report in order to enable a propcr understanding of the accounts to be reached. S R SHACKLOCK FCA Independent Examiner Equitable House 55 Pellon Lane Halifax West Yorkshire HXI 5SP 14 October 2024
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMtTED BY GUARANfEE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME ATqD EXPENDITURE ACCOUNT) YEAR ENDED 31 AUGUST 2024 2024 Unrestricted Restricted funds funds Total funds Total funds 2023 Note Income and endowmenls Donations and legacies Charitable aotivities Other trading activities Investment income 22,843 39.902 4,390 1.364 22,843 39,902 4J90 l?64 68,499 23,074 40,798 4,500 1,148 69,520 Total income 68,499 Expenditure Expenditure on charitable activitÉes TotaI expenditure 9,10 75.163 600 75.763 69.584 75,163 600 75.763 69,584 Net gains on investments 12 7.975 7,975 291 Net (expenditure)lincome and net movement in funds 1.311 {600) 711 227 Reconeiliation of funds Total funds brought forward Total funds carried forward 98,261 2,339 100,600 100,373 100,600 99.572 1,739 ioiJii The stakment 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.
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE STATEIIIENT OF FINANCIAL POSITION 31 AUGUST 2024 2024 2023 Note FIXED ASSETS Intangible assets Tangible ftxed assets Investmcnts 17 18 19 3.683 6,474 73.968 4,993 8,482 64,900 84.125 78.375 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 20 21 1.026 30,768 27,780 59574 981 11,853 15,210 28,044 CREDITORS: amounts ffal]ing due within one year NET CURRENT ASSETS 22 42J88 5,819 17,186 22,225 TOTAL ASSETS LESS CURRENr LL4BILITIES ioiJii 100,600 NET ASSETS ioiJii 100,600 Restricted funds Unrestricted funds 1,739 99572 2,339 98,261 Total charity funds 23 ioijii 100,600 For the year ending 31 August 2024 the charity was ¢ntitl¢d to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: 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: The directors acknowledge Iheir 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 w¢r¢ approved by the board of trustees and authoris¢d for issue on 30 September 2 4, and ar¢ signd on behalf of the board by: IVIR R A RUNDLE Treasurer The notes on pages 10 to 20 form part of these financial statements.
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMEiYrs YEAR ENDED 31 AUGUST 2024 GEIYERAL INFORMATION The charity is a public benefit entty and a private company limited by guaranfre, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Equitable House, 55 PeIlon Lane, Halifa4 West Yorkshire, HXI 5SP. STATEIVIEiYf OF COMPLIANCE These financial statements have been prepared in cornpliance with FRS 102, 'The Financial Reporting Standard applicable in th¢ UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. AccouwfiNG POLICIES Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain fllvdncial &ss¢ts and liabilities measured at fair value through income or cxpendittire. The financial statements are prepared in sterling, which is the functional currency of the ¢ntity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sourc&s of estimation ullcertainty The preparation of the financial statements requires manageinent to Thake judgemcnts, 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 tbe circumstances. There are not considered to be any judgements or accounting estimates or a55uLnptions that have a significant impact on the financial statements. Foreign currencies Foreign currency transactions are tnitially recorded in the functional cutrency, 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 ai)y gains or losses being tak¢n to the statement of fmancial activities. io
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS ( YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES {con141wedJ Fund a¢countiDg Unrestricted funds are available for use at the discretion ofthe trustees to further any ofthe charity's purposes. Incoming resources All incoffte is included in the statement of financial activities when ¢ntitl¢ment 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 tD ptIcUlar categories of income: incom¢ from donations or grants is recogThised when there is evidence of entLtlement to the gifL receipt is probable and its amount can be measured reliably.- income from subscriplions, 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 incuTr¢d. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities. and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitsble aims for the benefit of its beneficiaries, including thos¢ support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitsble activities. AII 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 asonable. justifiable and consistent basis. Intangible assets Intangible assets are initially recorded at cosL 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 ofrevaluation, as deterniined by reference to an active market, less any subsequent accumulated atnortisation and subsequent accumulated impairnient losses. 11
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPA1 LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS f YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES (conlinu Intangible wets (wryliuued) 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 asseL less its estimated residual value, over the useful life of that asset as follows: Website development & promotional video Markettng videos 33 % reducing balance 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 asseL the amortisation is revised prospectively to reflect the new estimates. Tangible &ssets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairtnent losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the dth of revaluation less any subsequ¢nt accumulated depreciation and subsequent accumulated impairnient losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asseL less its residual value, over the useful economic life of that asset as follows: Office and display equipment 250/0 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 impairnient is carried out at each reporting date. with the recoverable amount b¢ing estimated where such indicators exist. Where the carying value exceeds the recoverable amounL the asset is impaired accordingly. Prior irnpainnents are also reviewed for possiblc reversal at each reporting date. 12
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (conthe) YEAR ENDED 31 AUGUST 2024 ACCOUNfiNG POLICIES StoclL8 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 incutred in bringing the stock to its present location and condition. Finaneial instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. B&sic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subs¢qu¢ntly measured at amortisd cost using th¢ effective interest method. LI1[trD BY GUARA[E£ Each member of the charitabl¢ company undertakes to contribute to the assets of the Company in the event of it being wound lip while they are a member. or within one year after tbey cease to be a member, such amount as may be required, not exceeding £1, for the debts and liabilities contracted before they ¢eased to be a member. DONATIONS AND LEGAcs Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 DONATIONS Donations Gift aid 43 3,789 43 3,789 39 3,517 39 SUBSCRIPTIONS Subscriptions Publicity subscription 13.261 5.750 13261 5,750 13,598 5.920 13,598 5,920 22.843 22,843 23.074 23.074 13
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (conlinuedj YEAR E,DED 31 AUGUST 2024 CHARITABLE ACTIVITIES Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Shows and competitions Sales enty fees Ewc lamb registration Stock ram registration Transfer certificates Birth notification AGM expenses Training days and workshops National show dinn¢r Surplus on sale of merchandise DNA test fees 970 3,248 7,591 3,527 1.617 11,233 33 1,279 350 (626) 10,680 970 3248 7,591 3,527 1.617 11233 33 1279 350 (626) 10,680 640 3,854 7.572 5,768 ,915 11.402 640 3,854 5,768 I,915 11,402 103 9,544 40,798 103 9.544 39,902 39,902 40,798 OTHER TRADING ACTIVITIES Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Sponsorship5 100 club Website adverts Flock book 250 339 926 2.875 250 339 926 2,875 1.250 216 935 2.099 1,250 216 935 2,099 4.390 4,390 4,500 4,500 STMENT COmE Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Income from listed investments 1.364 lJ64 1,148 I,148 14
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINAIYCIAL STATEMENTS( YEAR ENDED 31 AUGIJST 2024 EXPENDITURE ON CHARrrABLE ACTIvrrIES BY FUND TYPE Unrestricted Funds Restricted Total Funds Funds 2024 Shows and competitions HDSBA Sales Promoting the breed Support costs 4.370 1,870 28,439 40,484 4?70 1,870 28,439 41,084 600 75,163 600 75,763 Unrestricted Restricted Total Funds Funds Funds 2023 Shows and competitions HDSBA Sales Promoting the breed Support costs 2,641 4,208 26,2l4 35,921 2,641 4.208 26,214 36,521 600 68.984 600 69,584 10. EXPEfiDrrtniE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Shows and competitions HDSBA Sales Promoting the breed Governance costs 4,370 1.870 28,439 37,317 41,687 1,870 28,439 3,767 35,373 4,208 26,214 3,789 3,767 34,679 41.084 75,763 69,584 15-
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINAIYCIAL STATEMENfs (nI1¥d) YEAR ENDED 31 AUGUST 2024 11. ANALYSIS OF SIJPPORT COSTS Support costs Total 2024 Total 2023 Communications and IT General offic¢ Human resources Finance costs Governance costs Travel expenses Ensurdnce Professional fees Depreciation Amortisation Cost of trustee m¢¢tings Bad debts NSA Subscriptions 2.176 2.419 27.625 482 900 905 1.157 449 2,008 1,310 1.520 (17) 150 2,176 2.419 27,625 482 900 905 1.157 449 2,008 iJio 1520 (17) 150 1.983 2,200 23.460 505 830 544 525 430 2,539 1.373 1.886 102 144 41,084 41,084 36.521 12. LYET CAINS ON IfivESTTrtEKrs unStrICted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Gains/{losses) on listed investm¢nts 7,975 7.975 291 291 13. NET {EXPENDITURE)IINCOME Net (expenditureyincome is stated after chargingJ(crediting): 2024 2023 Amortisation of intangible assets Depreciation of tangible fixed assets Foreign exchange differences i?10 2,008 1,373 2,539 (4) 14. INDEPENDEwf EXAMINATION FEES 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 900 830 16
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPAINY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (apRI1ned) YEAR ENDED 31 AUGUST 2024 15. STAFF COSTS The charity did not have any employees thn)ughout this or the previous year. 16. TRUSTEE RETrtUNERATION AND EXPENSES No relnuneration or other benefits from employment with the charity or a related entity were received by the tntstees. No Trustees received any expenses during the year (2023 - £1 J 16) 17. llYTANGIBLE ASSETS Website d¢v¢lopm¢nt Marketing vid¢os Total Cost At I September 2023 and 31 August 2024 Amortisation At I September 2023 Charge for the year At 31 August 2024 Carrying amount At 31 August 2024 At 31 August 2023 2.250 5,916 8,166 1.870 127 1,303 1,183 2.486 3,173 iJio 1.997 4,4S3 253 3.430 3,683 380 4,613 4,993 18. TANGIBLE FIXED ASSETS Office & display equipment Challenge cups Tolal Cost At I September 2023 and 31 August 2024 Depreciation At I September 2023 Charge for the year At 31 August 2024 Carrying amount At 31 August 2024 At 31 August 2023 22,644 449 23,093 14,611 2.008 14,611 2,008 16,619 16,619 6,025 449 6,474 8,482 8.033 449 17
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION ColANy LIMITED BY GUARAiYfEE NOTES TO THE FINANCIAL STATEMENTS ( conlimiedj YEAR ENDED 31 AUGUST 2024 19. INVESTMENTS Listed investments Cost or valuation At I September 2023 Additions Transfers Other movements 64,900 1,364 {271) 7,975 73,968 At 31 August 2024 Impairment At I September 2023 And 31 August 2024 Carrying amouDt At 31 August 2024 At 3 1 Aiigust 2023 73,968 64,900 All investments shown above are held at valuation and valued at market value. 20. STOCKS 2024 2023 Merchandise and rosettes 1,026 981 21. DEBTORS 2024 2023 Trade debtors Prepayments and accrued income Other debtors {160) 27,824 3,104 62 9.941 1,850 11,853 30,768 18-
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS r coTrliDllEd) YEAR EI)ED 31 AUGUST 2024 22. CRIDITORS: amounts falling due within one year 2024 2023 Payments received on account Trade creditors Accruals and defer1 income 21,058 20.430 900 4.989 830 42a88 5,819 23. ANALYSIS OF CHARITABLE FUNDS Unrestricted funds Gains and losses 31 Aug 2024 I Sept 2023 Income Expenditure General funds 98.261 68.499 (75.163) 7,975 99,572 Gains and losses 31 Aug 2023 I Sept 2022 Income Expenditure General funds 97.434 69,520 (68,984) 291 98,261 Restricted funds Gains and losses 31 Aug 2024 I Sept 2023 Income Expenditure Filming project 2,339 (600) 1.739 Gains and losses 31 Aug 2023 I Sept 2022 Income Expenditure Filming project 2.939 (600) Restricted funds relate to a donation of £3.000 which was received in respect of the filming.project which went live on July 2022, the videos are being amortised ov¢r 5 years. 19
THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMEIYTS (conl" .e YEAR ENDED 31 AUGUST 2024 24. ANALYSIS OF NET ASSETS BETWEEN FtfNDS Unrestricted Funds Restricted Total Funds Funds 2024 Intangible assets Tangible fixed &ssets Investments Current assets Creditors less than l yeaT Net assets 1.944 6,474 73.968 59.574 (42,388) 99,572 1,739 3,683 6.474 73,968 59,574 (42,388) 101.311 1,739 Unrestricted Funds Restricted Total Funds Funds 2023 Intangible assets Tangible fixed assets Investments Current assets Creditors less than l year Net assets 2,654 8,482 66,320 28,044 (5,819) 99,681 2,339 4,993 8,482 66,320 28,044 (5,819) 102,020 2.339 25. RELATED PARTIES Therc were no disclosable related party transactions in this or the prior year. 20-