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 directO￿S 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 f￿anCIal 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 El￿ED 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 l￿flets 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 e￿lmIned 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 sU￿lUS reserves at this time.

THE HAMPSHIRE DOWN SHEEP BREEDER'S ASSOCIATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRE￿oR'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 COl￿PAIYy 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
p￿tIcUlar 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 (conth￿e￿)
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￿[tr￿D 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 LEGAc￿s
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
un￿StrICted 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 (apRI1n￿ed)
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
Col￿ANy 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 E￿I)ED 31 AUGUST 2024
22. CRIDITORS: amounts falling due within one year
2024
2023
Payments received on account
Trade creditors
Accruals and defer￿1 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-