The British Deer Society (A company limited by guarantee) Annual Report and Financial Statements Year Ended 31 December 2024 A Charity Registered in England & Wales Charity No 1069663 A Charity Registered in Scotland Charity No SC037817 Company No 03485785 *AE050750• 1010412025 COMPANIES HOUSE A15 #52 The British Deer Society Contents Trustees, Annual Report . ADMINISTRATIVE DETAILS OF THE SOCIETY, TRUSTEES, AND ADVISERS ............ THE STRUCTURE, GOVERNANCE AND MANAGEMENT OF THE SOCIETY.................... OBJECTIVES AND ACTIVITIES......................................................... ........ ACHIEVEMENTSAND PERFORMANCE...........................................,............................. PLANS FOR FUTURE PERIODS....,... FINANCIAL REVIEW................................................. ............ ................... CHAIRMAN'S REPORT............................. ,10 STATEMENT OF TRUSTEES RESPONSIBILITIES...,..,,,.........................,..................,.. 12 Independent Examiner's Report......................................,......... statement of Financial Activities for the Year Ended 310ecember 2024....... .13 15 Balance Sheet as at 31 December 2024. .17 ststemenl of Cash Flows for the Year Ended 31 December 2024. 18 Notes to the Flnancial Statements 19 The British Deer Society Trustees, Annual Report Year Ended 31 December 2024 ADMINISTRATIVE DETAILS OF THE SOCIETY, TRUSTEES, AND ADVISERS THE ADDRESS OF THE CHARITY Registered office.. The Walled Garden, Burgate Manor, Fordingbridge. Hampshire, SP6 1 EF DETAILS OF THE GOVERNING DOCUMENT The Articles ofAssocialion as amended May 2024 NAMES AND ADDRESSES OF RELEVANT ORGANISATIONS AND PEOPLE Company Secretary Mrs Sarah Stride (resigned 31 It December 2024) Mrs S8rah Gubbins (from 1$1 January 2025) Registered Address The British Deer Society, The Walled Garden, Burgate Manor, Fordingbridge, Hampshire, SP6 1EF Bankers Barc18ys Bank. Mid Thames Group, PO Box 27, Reading, RG212HD Virgin Money, Timor House, Mariner Court, Clydebank, G812NR Sollcltors Wilsons, Alexandra House, St Johns Street, Salisbury SP12S8 Accountants Francis Clark LLP, Hitchcock House, Hilltop Park, Devizes Road, Salisbury, SP3 4UF Independent Examiner Geoffrey Thomas, Fletcher & Partners, Chartered Accountants & Registered Auditors Crown Chambers, Bridge Street, Salisbury, Wiltshire, SP12LZ DETAILS OF THE TRUSTEES The Trustees in office throughout the period from 1 ￿ of January 2024 to 3111 December 2024 (unless stated otherwise) and since the year-end to this report date were as follows: Lord Andrew Hay- President Mr Hugh van Cutsem - Chaimian Mrs Sarah Gubbins - Treasurer Dr Moriis Charlton - Area Chairman, England and Wales Prof. Simon Gibson - Trustee Mr Alistair Monkman- Area Chairman, Scotland Miss Alison Brough - Trustee and w1￿-chaIr (Co-opted 25 September 2024) Dr Dr Alastair Ward - Trustee (Co-opted 25 September 2024) The British Deer Society Trustees, Annual Report Year Ended 31 December 2024 THE STRUCTURE. GOVERNANCE AND IIIIANAGEIYIENT OF THE SOCIETY. ADDRESS AND REGISTERED CHARITY NUMBERS The British Deer Society. The Walled Garden. Burgate Manor. Fordingbridge, Hampshire, SP6 1EF A company limited by guarantee. The headquarters are at Fordingbridge. The Society is registered as a Charity with The Charity Commission for England arxl Wales, Charity Registration Number 1069663. The Society is also registered as a Charity registered in Scotland with the Office of the Scottish Charity Regulator SC037817. DETAILS OF THE GOVERNING DOCUMENT The Articles of Association were approved by the Charity Commission and registered at Companies House,. they were last amended in May 2024. HOWTHE SOCIETY IS CONSTITUTED THE BRITISH DEER SOCIETY is constituted as a Company Llmited by Guarantee, registered Number 3485785. RECRUITMENT, APPOINTMENT AND TRAINING OF TRUSTEES Following a review of the Board of Trustees and an update to our Articles of Association, members voted to approve the changes.to the Society reflected in.this report at our Annual.. General Meeting on 19th May 2024. As part of the changes to the Articles, the term Trustee/Directorwas replaced with Trustee, with a provislon in the updated articles ensuring this term meets Companies House requirements for recognising Directors. Additionally, the recruitment, election, and terms of trustees have been revised to better align with Charity Best Practice. In Novembor 2024 the Board of Trustees agreed that as the office of President was no longer extant, it should.be removed, with Lord Hay remaining as an existing Trustee. The Chairman will in future be elected for 3-year terms from May 2025. Trustees will serve 3-year terms, and over the next two years, the Board will work to ensure the correct skillsets are sought to facilitate best governance. Trustees are nominated based on their experience, empathy, and professional skills to ensure the board's composition supports the Society's needs. Following a comprehensive recruitment process, they are elected by the general membership, except for the Chaimian of the English and Welsh Area Council (Incorporating Northern Ireland), a post currently held by Dr Morris Charlton, and the Chairman of the Scottish Area Council, currently Alistair Monkman. These two Trustees are elected at the Area Council AGMS by their respective area councils and hold office as Trustees by virtue of that appointment. As set out above, the English and Welsh Area Council and the Scottish Area Council are entitled to nominate their chainnan for the time being as a Trustee for the period for which they hold the office of Area Chairman. The British Deer Society Trustees, Annual Report Year Ended 31 December 2024 All trustees receive copies of the governing documents and information on society and company law. They are encouraged to read infomation on the websites of the England and Wales Charity Commission and the Office of the Scottish Charity Regulator. Links to new English, Welsh, and Scottish Charity information are also made available to the Trustees. Potential and new Trustees are also provided with an introductory on-boarding information pack, budget packs, and quarterly financial reports. They are also offered additional training to help them undertake their duties. The British Deer Society is a member of the National Council of Voluntary Organisations, which issues regular infomiation on matters of concem to charitable and other not-for-profit organisations. CORPORATE GOVERNANCE The Board meets regularly, primarily online every two months, with two in-person meetings held in March and November. Additional face-to-face meetings may be scheduled if necessary. The Board is supported by several sub-groups responsible for Finance, Policy, Science and Research, Education, Training, Marketing, and Communications. Work continues between meetings through online discussions and email. The Board is responsible for setting the organisation's strategy, approving business plans and budgets, overseeing sub-boards, publishing the annual report and accounts, managing risks, and directing the CEO and Management Team. The CEO and Management Team are responsible for implementing strategy, deliverlng the Society's objectives, managing finances, developing new initiatives, setting targets, and monitoring progress. They also build and maintain partnerships, support research, contribute to regional and national developments, and respond to deer-related issues. Additionally, they promote the society's activities while overseeing safeguarding and enhancing its reputation. OTHER RELATED PARTIES THE LONSDALE TRUST The British Deer Society has the authorlty to nominate all Trustees of the Lonsdale Trust, grant-making society with aligned aims. All income from the Lonsdale Trust is directed to the British Deer Society and explicitly allocated to the Designated Research and Education Funds. The Society also covers the Trust's administrative expenses. DEER MANAGEMENT QUALIFICATIONS LTD The British Deer Society (BDS) appoints a Director to the Board of Deer Management Qualifications Ltd (DMQ), a non-charitable Company Limited by Guarantee responsible for setting the national standards for humanely managing deer with a rifle. BDS covers all out-of-pocket expenses for its nominated Director, who reGeives no remuneration or expenses from DMQ. In 2024, we appointed Dominic Griffith, a retired trustee, to this role, reporting directly to the CEO. COLLABORATIVE ORGANISATIONS BDS is also a member of several collaborative organisations. The Society's Chairman serves as an ex-officio Trustee of the G. Kenneth Vthitehead Trust at Durham University. The British Deer Society Trustees, Annual Report Year Ended 31 December 2024 In 2022, we nominated Dr Alastair Ward, our Honorary Scientific Officer and now a Trustee, to represent the Chaimian within the Whitehead Trust. The Society also acts as the secretariat for the Deer Initiative Partnership. a position currently held by Mrs. Sarah Stride and paid for by the Society. RISK MANAGEMENT POLICY The Trustees of The British Deer Society take a proactive approach to risk management. In line with the requirements of FRS 102 SORP (Statement of Recommended Practice) Accounting for Charities, they identify and assess significant risks that may affect the Society. Appropriate systems and procedures are implemented to manage and mitigate these risks. This process is documented in a risk register, which is updated continually by the CEO and reviewed regularly by the Board. INVESTMENT POLICY AND REVIEW The Society's investment powers are outlined in its Articles of Association, specifically: Paragraph 3(10): "To invest the Society's funds not immediately required for its Objects in such investments, securities, or property as deemed appmpriate, subject to 8ny legal condilions and consents in place at the time. The following principles guide the Society's investment policy., 1. Ensuring the security of capital and income when investing liquid assets. 2. Depositing cash with banks covered by the FSCS deposit protection guarantee scheme. 3. Engaging reputable investment brokers for long-term investments, 4. Using investment income to further the Objects of The British Deer Society. FUNDS POLICY The Society's reseryes policy is based on assessing financial and investment risks to future income streams. The objective is to maintain a Minimum level of liquid reserves equivalent to six months of expenditure. For 2024, this figure is set at £425,000. Designated Funds Education and Research Fund This designated fund was established to support the Society's education and research activities and to attract grant5 from individuals and organisations for deer-related research and education. Transfers to this fund may include investment income received by the Society and grants such as those from the Lonsdale Trust. This fund does not include interest earned by branches or interest allocated to the Restricted Fund. Restrlcted Funds Jim Taylor Page Restricted Fund This fund was established in 2000 following a legacy from Jim Taylor Page's estate, which was matched by an equal transfer from the Society's unrestricted general fund. The income generated from this fund is used to provide annual bursaries for educational purposes. The British Deer Society Trustees, Annual Report Year Ended 31 December 2024 Legacy Endowment Fund From 1 January 2022, the Board agreed thai all future legacies would be credited to the Legacy Endowment Restricted Fund. The income, and if necessary. the capitsl. may be used to cover cosls aligned wilh the Society's objectives. including IT, training, educational research, and limited central society expenses. All fund policies are revlewed annually lo ensure they remain appropriate and aligned with the Society's objeclives. GRANT-MAKING POLICY The Society is interested in making small grants In connection with the furtheran￿ of knowledge in accordance with the objects of The British Deer Society. For further information. visit our website or contact info bds.or OBJECTIVES AND ACTIVITIES Summary of the SocSety's Objects as Set Out in the Governlng Document The British Deer Society operates under ils Articles of Association, as amended In May 2024, which serve as its Governing Document. The Charity's objects ('Objects') are: 1.1 The promolion in the public interest of research Into the habits of and the sclentlfic study of deer and. as appropriate, other feral or free-ranging ungulates in the 8rit15h Isles {United Kingdom of Great Britain and Northem Ireland. the Isle of Man and the Channel Islands) with particular reference to their relationship to the natural habitat. forestry, agriculture and areas to which the public have access. 1.2 The promotion in the public interest of knowledge of methods of management, humane treatment and humane control of deer and, as appropriate. other feral or free-ranging ungulates. For the promotion of the foregoing primary objects the Charity shall have power. (al to formulate, publlsh and disseminate verified information, expert reports and other educational material on deer and, as appropriate, other feral or free- ranging ungulates. Iheif ecology and environment. (b) to formulate and publish slandards of humane behaviour in the treatmenl of deer and, as appropriate. other feral or free-ranging ungulates designed to secure by voluntary observance the elimination of avoidable cruelty. {c) to secure by publication, laying information or by prosecution of offenders or in any olher lawful manner. the due observance of the provisions protective of deer contalned in the Deer Act 1991, The Deer (Scotland) Act 1996 or any other or subsequent legislative enactment for the time being in force applicable to deer and intended by Parliament to prohibit avoidable cruelty including the illegal taking of deer in the close season. (d) to do all such acts as shall be conducive to the promotion of the foregoing primary objects or any of them provided always that nothing in these objects or powers or in any njle or regulation forming part of the constitution of the Charity shall authorise or pemit the Charity as a body established exclusively for charitable purposes to do any act or thing or apply any part of the Charity's funds to any purpose not recognised by law as charitable. The British Deer Society Trustees, Annual Report Year Ended 31 December 2024 The Charity is non-political and as such shall not engage in any paty-political activity but may do all such other lawful things as are necessary for the achievement of the Charity's objects. Nothing in the articles shall authorise an applicatlon of the property of the Charity for purposes which are not charitable in 2ccordance with section 7 of the Charities and Trustee Investment (Scotland) Act 2005 andlor section 2 of the Charities Act (Northern Ireland) 2008. 1. Political Neutrality The Society is strictly non-politlcal and does not engage In any party-political activities. However, it may take lawful actions necessary to achieve its objective. The Society does not advocate for or against any lawful field sport. ACHIEVEMENTS AND PERFORMANCE 2024 January- March We played a key role in supportlng The Fair Game Prolect. led by Professor Naomi Sykes, alongside numerous sector partners. This initiative explores innovative ways to expand the venlson market, making it more accessible and appealing to a broader audIen￿. Between January and March. we successfully integrated our new online leaming platform into Ihe BDS website, offering a slreamlined digital training experience. Aprll - June -In April, we attended The Stalking Show, working.closely_with our Midlands, W.ales, and Marches Branch. Following this successful event, we negotiated a partnershlp with the organisers, securing BDS as the official Stalking Show charity for 2025. The Board approved using some of the reserves lo fund the Together for Oeer business plan. priorilising strategic investments in IT infrastructure, the BDS Deer App, and an enhanced reporting dashboard to improve efficiency and member seniices, In May, we launched a new series of Best Practice evenls targeting deer and land management organisations. These events focus on improving deer management practices, assessing deer presencelabsence, and evaluating land impacts. As part of Together for Deer, we will conlinue to expand and refine these events. July - September A significant milestone in July was the launch of the UK'S first on-line Deer Management Qualification (DMQ) - Deer Stalking Certificate 1 (DSC1), marking a significant step fonNard in our education and training efforts. Due to rlsing Microsoft costs and the removal of essentlal marketing functionallty from MS Dynamics CRM. we embarked on a review to Identify a more suitable and cost-effective CRM. Throughout the summer, we had a strong presence in Scotland at the Scottish Game Fair, where we shared a stand with the Countryside Alliance and collaborated with the Game and Wildlife Conservalion Trusl on an educational event. The season concluded with a highly successful event hosted by BDS and our Highland Branch. The British Deer Society Trustees, Annual Report Year Ended 31 December 2024 We were delighted to see the Fair Game Project receive an award. Sponsored by National Highways, the award recognises exceptional commitment to heritage, biodiversity, and sustainability and is centred on venison. October- December A significant milestone in October was launching our new interactive deer magazine, providing an engaging digital format while retaining a paper version for those who prefer print. In November, the Board approved the implementation of Beacon CRM and the development of the new BDS App. ensuring both systems are fully operational by Spring 2025. This will improve the efficiency of our Marketing, Training, Membership, and Fundraising teams. In Scotland, we prepared for the release of the Natural Environment {Scotland) Blll, expected in early 2025. BDS has staff and members ready to engage with Scottish partners and govemment bodies to ensure a balan￿d and informed approach to future deer management policies. In December, we were delighted to receive a second grant payment from The Berkeley Group, enabling us to expand our educational work. This funding allowed us to deliver deer education to over 3,500 children and develop new educational resources to support our mission. SIGNIFICANT ACTIVITIES CONTRIBUTING TO OUR OBJECTIVES We expanded our fundraising reach, including opportunities in the US market. We launched our new Together for Deerstrategy, immediately drawing significant attention from the sector. The Humane Animal Dispatch (HAD) project launch, in partnership with multiple charities and police organisations, further strengthened our sectols influence. We received our second industry award recognition in Iwelve months. This has tsoosted our credibility and visibility, contributing to OUi'TOUrth consecutive year of income growth. PLANS FOR THE FUTURE The year 2024 has been pivotal, marking the implementation of our Together for Deer strategy and setting the foundation for continued growlh. As we move into 2025, we remain committed as the Board of Trustees, building on our research, education and training programmes and advancing our core pillars.. 1. Ethics and We￿are 2. Education and Training 3. Science and Research Ensuring that the British Deer Society remains the leading voice for wild deer in the UK. David McAuley- CEO The British Deer Society Trustees, Annual Report Year Ended 31 December 2024 FINANCIAL REVIEW FOR THE YEAR ENDED 31 DECEMBER 2024 The financial performance of the Society for the year ended 31 December 2024, as detailed in the attached pages, includes the financial results of The British Deer Society and all its branches. These results are presented in the same general format as in previous years. Support costs have been reallocated across direct charitable and other expenditures in line with best practices for charities and the FRS 102 SORP. ensuring consistency with previous years. The economic climate continues to make work challenging for all charilles and resulled in higher costs irnpacting the financial outcome of the Society in 2024. However, thanks to the tremendous efforts of our staff, alongside the generous support of our branches, members, donors. and partners, we have managed to navigate these pressures effectively. Our strong reserves position has allowed us to maintain financial stability while investing in IT platforms to strengthen the Society's ability to achieve its strategic aims. Overall, our total income for 2024 increased to £932,197 (2023: £813,627). Our'Together for Deer. strategy had a particularly positive impact on training income, driven by the introduction of new in-person and online courses. Membership income remained strong, reflecting the invaluable ongoing support of our members. Fundraising income also played a cwcial role in expanding our educational work, enabling us to deliver more events and develop additional educational resources. We continue to recognise that training and administration costs generally, as well of those of membership, are a significant element of the Society's outgoings. We strive to contain and reduce costs where possible whilst also improving financial information for efficient and effective management of the Society. This includes additional non-financial information such as regular reporting on mernbership and training numbers. Funds are held in investment accounts, with sufficient reserves retained in bank deposit accounts to ensure operational liquidity. Our portfolio generated realised gains of £1,526 and unrealised losses of £7,873 during the year. Investments are monitored regularly, with risks reviewed by the Board as needed. We continue to make improvements to our working practices, enhancing our financial and non-financial processes and systems, and enabling the Society to be more effective and maximise the Society's impact. I would like to extend my sincere thanks and appreciation to our staff, volunteers, and supporters. Your collective efforts have been instrumental in sustaining the Society's position and ensuring we are well-placed for continued success in 2025 and beyond. Sarah Gubbins Treasurer The British Deer Society Trustees, Annual Report Year Ended 31 December 2024 CHAIRMAN'S REPORT As we reflect on the past yearfs achievements, l am pleased to present the Chairman's Report for 2024. This year has been one of progress, collaboration, and commitment to the core principles of the British Deer Society (BDS). Our work ensures that deer remain an integral part of the countryside, and we remain steadfast in our mission to promote their welfare and sustainable management. Firstly, I would like to sincerely thank our members, partners, trustees, and staff. Your dedication and support are the backbone of our success. The BDS continues to be the authoritative voice for deer welfare and conservation, speaking up when necessary to advocate for balanced and evidence-based deer management. Our vision is clear: healthy, well-managed deer populations across the UK, with all stakeholders working together to make this a reality. Financially, we remained strong throughout the year despite the Board's strategic decision to invest in essential new IT platforms. These improvements are key to modernising our operations and enhancing member engagement, ensuring better services and resources for the future. The Board of Trustees has been further strengthened, welcoming Dr Alastair Ward, our Honorary Scientific Advisor, and Alison Ryde, whose expertise in veterinary science and land management adds valuable knowledge, skill sets and depth to our governance. Updating our Articles of Association has enabled necessary restructuring, allowing us to focus on succession planning for the Board and our area councils and branches. A key governance change has been the shift from virtual meetings to a hybrid model, incorporating at least two in-person Board meetings annually. This has fostered stronger relationships among trustees and resulted in more meaningful discussions and strategic planning. A significant milestone was the launch of our ambitious 'Together for D88rf strategy. which has already strengthened our education and advisory work. The BDS remains at the forefront of educating and training the public, policymakers. ai Id land managers on responsible deer management. In 2024, our training team delivered courses to over 1,100 individuals. We are now working to expand our reach further, ensuring more people benefit from high-quality and market leading training while maintaining deer welfare as our priority. The transltion to our digital magazine has increased engagement, boosted advertising revenue, and extended our reach. Most Importantly it has given us an opportunity to ensure that you our members are receiving a publication every quarter that gets better and better, more informative and more interactive. It has also ensured we save a significant sum of money which we can deploy into other areas without compromising on what you our vital members receive. At the same time, our fundraising and corporate partnership efforts continue to strengthen the society's financial health. The venison market remains a challenge. In 2024, we collaborated with partners and academics to explore innovative ways to expand market opportunities. With the government pushing for increased culling, we will continue engaging with policymakers to advocate for greater investment in a sustainable venison industry. 10 The British Deer Society Trustees, Annual Report Year Ended 31 December 2024 Additionally, we remain committed to supporting our members in Scotland as the new Natural Environrnent (Scotland) Bill takes effect. The Scottish Area Council and our Scottish Policy Officer have been working tirelessly to engage with civil servants and other parties to ensure the government ambitions can be met but without compromising deer welfare. This has been a challenging path to tread but to date the work that has been carried out has met with some significant success and l applaud the efforts of all involved. This year, we were honoured to receive confirmation that His Majesty the King will continue his Patronage of the BDS following a Royal review. This endorsement underscores the importance of our work and highlights the recognition of deer conservation at the highest levels. As we look ahead, we recognise the complexities of the modern landscape but remain determined to stand up for deer and those who manage them responsibly. The Society is on a firm footing, and the future holds great potential. Moving into 2025 with confidence, we are ready to advance our mission and continue making a meaningful impact. Hugh van Cutsem Chairman 11 The British Deer Society Trustees, Annual Report Year Ended 31 December 2024 STATEMENT OF TRUSTEES RESPONSIBILITIES The Trustees are responsible for preparing the Trustees, Report and the Financial Statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company and Charity law requires the Trustees to prepare financial statements for each financial year. which give a true and fair view of the state of the affairs of the Charity and its subsidiaries and of the surplus or deficit for Ihat period. In preparing these financial statements. the Trustees have: a) selected suitable accountlng policies and then applied them consistently b) made judgements and estimates that are reasonable and pnjdenl c) stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in Ihe financial statements d) prepared the financial statements on the going concern basis. The Trustees have overall responsibility for ensuring that the Charity has appropriate systems of controls. financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements cDmply with the Companies Acl 2006 and the appropriate Charity legislation. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for prevention and detection of fraud and other irregularities. So far as the Trustees are aware, there is no relevant audit information (information need6d by the company's auditors in connection with preparing their audit report) of which the company's auditors are unaware and each Trustee has taken all the steps that helshe ought to have taken as a Director in order to make himselflherself aware of any relevant audit information and to establish that th8 company's auditors are aware of that information. On Behalf of the board Sarah Gubbins Trustee Approved by the Board on 25th March 2024 12 The British Deer Society Independent Examiner's Report to the Trustees of The British Deer Society I report to the charity Trustees on my examination of the accounts of The 8ritish Deer Society for the year ended 31 December 2024 which are set out on pages 15 - 36. Respectlve responslblllties of Trustees and Examlner As the Trustees of the group. you are responsible for the preparation of the accounts of The British Deer Society in accordance with the requirements of the Companies Act 2006 {Ihe 2006 Act,). Havlng satlsfied myself that the accounts of The 8ritish Deer Soclety are not required to be audited under Part 16 of the 2006 Act 8nd a￿ eligible for independent examination, I report in respect of my examination of the accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(bl of the 2011 Act. An independent examination does not involve gathering 811 the evidence that would be requlred In an audit and consequently does not cover all the matters that an auditor considers In giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, l express no oplnion as to whether the accounts present a 'true and fair, view and my report is limited to those specific matters sel out in the independent examiner's statement. Independent examlner's statement Since The British Deer Sociews gross Incoiiie exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 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 British Deer Society as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records,. or 3. the accounts 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 matter considered as part of an independent examination; or 4. the accounts 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 charlties preparing thelr accounts in accordance with the Financial Reporting Standard appli￿ble in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection wth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 13 The British Deer Society Independent Examiner's Report to the Trustees of The British Deer Society Geoff FCA mas Crown Chamber5 Bridge Street Salisbury Willshire SP12LZ Dale.. 14 The British Deer Society Statement of Financial Activities for the Year Ended 31 December 2024 Unrestrlcted funds Restricled funds Designated funds Total 2024 Note Income and Endowmenls from: Donations and legacles Charitable aclivilies Trading activities Investment income 403,584 329,920 179,403 3.484 407,068 329,920 179,403 Total income 928 713 932 197 Expenditure on: Raising funds Charitable activities (109.333) 857 242 {109.333) 859,502 460 Total expenditure Net gainsl{losses) on inveslmenl assets (966,575> (460) {1,800) (968,8351 Net incomel(expenditure) Net movement In funds {44.209) 3,024 (1.800) (42.985) Reconciliation of funds Total fvnds brought foThvard Total funds carrled forward 19 675 519 114216 631 310 117240 766.827 15 The British Deer Society Comparative Statement of Financial Activities for the Year Ended 31 December 2023 Unrestricted funds Restrf¢tod funds Deslgnated funds Total 2023 Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Inveslment income 389,524 206,230 175,702 24,628 414,152 206,230 175,702 Total income 788,999 24,628 813627 Expendlture on: Raislng funds Charit8ble aclivilies (105.297) 719 113 (105,297) 720 663 Total expenditure Net gainsl{losses) on investment assels (824,410) {1,550) (825,960) 32,323 Nel incomel{expenditure) Net movemenl In funds {67.734} 24,628 (1,550) <44,656) Reconciliallon of funds Total lunds broughl forward Total funds carried forward 19 743 253 675.519 114,216 20.077 809,812 All ol the charity's activities deriv8 from continuing.operations during the above periods. The funds breakdown for 2023 is shown in note 23, 16 The British Deer Society Balance Sheet as at 31 December 2024 2024 2023 Note Fixed assets Intangible assets Tangible assels Investments 14 15 47,220 28,543 555 489 631252 93 28,072 613 830 16 Current assets Stod(s Debtors Cash al bank and in hand 11,984 30,179 215218 257,381 6.904 32,600 258 107 297.611 17 Creditors: Amounts falllng due within one year 18 121 806 129 794 Net current assets 135 575 167.817 Total assets less current liabilities 766 827 Credltors: Amounts falllng due after more than ona year Net assets 766 827 809812 Funds of the charity: Designated funds Restrlcted income funds Restricted funds 18.277 20,077 117,240 114,216 Unrestrlctad Income funds Unrestricted funds 631,310 675 519 Total funds 19 766,827 809,812 For the year In question. the charitable company was entitled to exempllon from an audlt under section 477 of the Companies Act 2006. The members have not requlred the Gharilable company to obtain an audit of its accounts for the year in question in accordance with section 476 of Ihe Companies Act 2006. The financial slalements on pages 15 10 36 were approved by the Finance Team and Exlernal Exarniner, and aulhorised for issue lo the Board of Truslees on 25 March 2025 and signed on their behalf by.. Mrs Sarah Gubbins Tfuslee: Company Regislralion Number.. 03485785 17 The British Deer Society Statement of Cash Flows for the Year Ended 31 December 2024 2024 2023 Note Cash flows from operating activities Nel cash incomel(expenditure) (42.985) (44,656) Adjustments to cash flows Depreciation Amortisalion Lossl{profit) on sale of ffixed assets Revaluallon of investments Investment Income 15 14 9,839 3.301 10,222 3,056 1.662 32,323 6,347 {39.3041 <14,936) Worklng capilal adjustments (Increase) I decrease in stocks 08creasellincreasel in debtors (Decrease)lincrease in creditors (Decrease)lincrease in deferred income {5,080) 2,421 (9,703) 1.715 12,577) (12.722) (10,148) 17 18 Nel cash flows from operating aclivlties Cash flows from Invèstlng actlvltles Purchas8 of intangible fixed assets Purchase of langSbl& fixed assets Sale of tangible fixed assets Purchase of inve5trnents Proceeds from Sale of investments Income from dividends and inleresl 14 15 (50,428> (10,3101 (20,036) 1,500 (134.8941 {160,765) 212,759 Net cash provided by (used inl investlng eclivities 135887 Cash flows from flnanclng actlvltles Nel (decreas8) In ush and cash equlvalents {42,889) 258 107 (132,3751 390 482 Cash and cash equivalents at 1 January Cash and cash equivalents at 31 December 215218 258,107 All of the cash flows are derived from continuing operations during Ihe above two peri(xJs. 18 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 1 Charlty status The charily Is limited by guaranlee, incorporated in England and Wales. and consequently does not have share capital. Each of the Members is liable to contribute an amount not exceeding £10 towards the assets of Ihe charity in the event of liquidalion. These financial statements were aulhorised for issue by the Tnjstees on 25 March 2025. 2 A¢¢ounllng pollcles Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation ol these financial slalemenls are set out below. These policies have been Consistently applied to all the years presented, unless othe￿iSe slated. Statement of compliance The financial statements have been prepared in accordan￿ wlth Accounting and Reporting by Charities: Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in Ihe United Kingdom and Republic of Ireland IFRS 102). Ihe Charities and Trustee Inveslment (Scolland) Acl 2005, Ihe Charitles Accounts (Scolland) Regulations 2006 (as amended) the Charities Act 2011. Ihe Companies Act 2006 and UK Generally Accepted Pracllce as It applies from 1 January 2015, Basls of preparallon The British Deer Society meets the definition of a public benefit entity under FRS 102. Assets and liabililies are initially recognised al hisloric81 cost or transaclion value unless otherwise slaled in the relevant accounting policy notes. Going concern The Trustees have reviewed the charitys financial position and believe that the charity is well placed to manage operational and finanGial risks. Over the past two years, the Tnjstees have stralegi¢ally reduced the high level of reserves through planned investrnent in IT, ensuring ihat the organisalion remains efficlenl, secure, and well-equipped for the future. Accordingly. the Trustees have a reasonable expeclation that the Charrty has adequate resources lo continue in operational existen¢e for the foreseeable future. Thus, the Trustees continue lo adopt the going concern basis of accounting in preparing Ihe annual financial stalemenls. Income and endowments Income is recognised when the eharily has a clear entillemenl lo the resources, il Is r8asMabty certain that the funds will be received, and Ihe amount can be reliably measured. Income received in advance is deferred and only recognised in the slalement of financial activities onse Ihe charity becomes entitled to it. 19 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 Subscription4 Donations. Gift Aid, Covenant Tax Refunds, Grants and Legacles receivable Subscriptions and donalions are accounted for on a ￿ceIptS basis. Included within donallons In Note 3 are small Individual amounts from-former members whose membership has lapsed, bul who continue to contribut8 to the Society at a level of less than the normal subscription. Gift Aid and Covenant Tax Refunds are accounted for as receivable, based on Ihe subscription incom8. received in the year. Life members, subscriptions are allocated to Income over 15 years. Grants and donations in respect of capital expendilure are credited against the cost of the assets lo which they relate. Grants and donations for specific purposes are accounted for as receivable and are Irealed as formlng reslricled funds. Legacies are accounted lor when It is probable that they will be received, and the amounts receivable can be d818rmined with sufficient reliability. The Lonsdale Trust net Inveslm8nl income and related tax credits gpnted by the Tnjsl are accounted for when receivable. Def8rr8d income Def8rred income represents amounts received for future periods and is released to incoming resources in the period for which, il has been received. Such income is only d8f8rred when.. Payments have been made in advance of Ihe sen4ices being dellvered The donor specifies that the grant or donation must only be used In future accounting perlods; or The donor has imposed conditions whlch musl be met before the charlly has unconditional entltlemenl. Investment income Quoted investments held directly by the Society are valued in the balance sheet al their market value at the year end. Gains and losses on disposal and ￿valUation of Investments are credited or charged to the funds in which the assets are held. Expendlture Support costs represent the costs of the Sociely's office and adminislration staff in providing support to the SocielYs charitable activities and have been allocated in accordance with SORP 2019 Governance Costs represenl the costs incurred in connection with the management of the Charlty's assets by the Trustees and the costs of complianc8 Wlth constilulional, slalutory, and legal requiremenls. All other expenditure is accounted for on an accruals basis and is recognised when there is a legal or constructive obligation to pay for that expenditure. Expenses have been allocated to the particular activity when the cost relaled direclly to that activity or apportioned as per note 9. Irrecoverable VAT is induded as part of the cost of the item to which il relates. 20 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 Raising funds Fund ralslng cosls Include the direct costs of fundraising evenls together wllh the costs of recrulting and seNicing Ihe Society's members. Charltable actlvitles Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for ils beneficiaries.11 indudes both cosls Ihal can be allocated directly lo such activities and Ihose costs of an indirect nature necessary to support them. Taxatlon The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it mee15 the definilion ol a charitable company for UK corporation tax purposes. Accordingly, the charity is polentially exempi from taxation in respect of income or capital gains received wilhin ¢alegories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Ch8rgeable Gains Act 1992.10 the extent that such income or gains are applied exclusively lo charitable purposes. Intanglble assets Intangible assets are staled in Ihe Balance Sheet al cost less accumulated amortisation and impairment. They are amortised on a straight line basis over thelr eslimaled useful lives. Tangible fixed assets Fixed assets ar8 slal8d at hlsloric cost less depreciation. The charity has not sel a value below which assets are not capitalised, Amortisation Amortisation is provided on all intangible assels at rates calculated to wrile off Ihe cost,18ss estimated residual value, of each asset evenly over its expecled useful life as follows'.- Asset class Amortlsatlon method and rate Websile and So￿are developed CRM 3 years 3 years DepreGiation and amortisation Depreciation is provided on 811 fixed assets al rates calculated lo wrile off the cost, lèss estimated residual value, ol each asset evenly over ils expected useful life.. as follows;. Asset class Depreclalion method and rale 3 years 5 years 5 years 4 years up to 5 years Computer equipment offi￿ equipment Show equipmenl Leasehold premises over the period of the lease Equipment held by branches 21 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 Flxed asset investments Fixed asset inveslmenls, other than programme relaled Inveslmenls, are included al marfn- -restricted funds and the income granted by.the Lonsdale Trus.1 may ke transferred from the general unrestricted fund lo the designaled funds e8ch year, Specilic expenditure for the purposes specifled by the designated funds are alienated directly to those funds each year. Rostrlcled lunds These are funds whlch can only be used for particular restricted purposes wllhln the objects of th8 charily. Re51riclions arise when specified by the donor or when funds are raised for particular restricted purposes. In accordance wilh the undertakings given in the BDS legacy leaflet all legacies since 2005 have been placed in a Restricted Endowment Fund. The Board has agreed that from 1s1 January 2022 all future legacies should be credited lo the Restricted Endowment Fund. The income, and if necessary, the capital, may be used lo cover c051s aligned with the charitable objectives of the Society as outlined on page six of this report. Financial Instruments Classlfication Financial assels and financial liabililie5 are recognised when the group becomes a party to Ihe contractual provisions of Ihe instrumenl. Financial liabilities and equity instruments are Classified according lo the substance of the conlraclual arrangemenls entered into. An equily instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities. 23 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 Recognition and measurement All financial assets and liabilities are initially measured at transaction price {including transaction costs). except for Ihose financial assets classified as al fair value through profil or loss, which are initially measured at fair value {which is normally the transaction price exclLJding Iransaclion costs). unless the arrangement constitutes a financing transaction. If an arrangemenl conslilutes a financing Iransaclion, the financial asset or financial liabilily is measured at the presént value of the future payments discounted al a market rale of inleresl for a similar debt Instrument. Financial assels and liabilities are only offset in the slalement of financlal position when, and only vthen there exists a legally enforceable right lo sel off the recognised amounls and the group intends either to settle on a nel basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only wher) a) the conlraclual rights to the cash flows from the financial asset expire or are settled, b) the group transfers to another party substantially all of the risks and rewards of ownership of the financial asset. or c) the group, despite havln9 retalned some, but not all, significant risks and rewards of ownership, has translerred control of the asset to another party. Financial liabilities are derecognised only when Ihe obligation specified in the contract is discharged, cancelled or expires. Debt Instruments Debt instruments which meet the following condlllons are subsequently measured at amortised cost using the effective interest method- (a) The conlraclual retum to the holder is (i) a fixed amount,. (ill a positive fixed rate or a positive variable rate: or (iii) a combinalion of a positive or a negalive fixed rate and a positive variable rata. Ib) The contract may provide for repayments of the prlncipal or the return to the holder Ibul not both) to be linked to a single relevanl observable index of general price infl8llon of Ihe ￿rrencY In which the debl .'nslrumenl is denominated, provided such links are not leveragod. (c) The contract may provide for a determinable variation of the return lo the holder during the life of the instrument, provided that (il the new rale satisfies condition (a) and the vanation is not conlingenl on future evenls other Ihan (1) a change of a conlraclual variable rate,. (2) lo protect the holder against credit deterioration of the issuer,. (3) changes in levies applied by a cenlr81 bank or arising from changes In relevant laxalion or law; or (li) Ihe new rale is a market rate ol interesl and satisfies condition (a). (d) There is no Conlraclual provision that could. by its lenns. result in the holder losing the principal amounl or any interest attributable to the current period or prior periods. le) Contractual provisions that permit the issuer lo prepay a debt instrument or permit the holder to put it back to the issuer before maludty are nol conllngenl on future evenls, other than to protect the holder against the credil deterioration of the issuer or a change in control of the issuer, or io protect Ihe holder or issuer against changes in levies applied by a central bank or arising from changes in relevanl taxation or law. 24 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 (fl Contractual pmvisions may pemil the extension of the lerm ol Ihe debt instrument. provided that the retum lo the holder and any olher conlraGtual provisions appllcable during the extended term satisfy the conditions of paragraphs (a) to (c). Debt instruments Ihat are classified as payable or receivable within one year on inilial recognition and which meet the above conditions are measured al the undiscounted amount ol the cash or other consideration expected lo be paid or received, n81 of impaim18nt. Wilh the exception of some hedging instruments, other debt instwmenls not meeting these conditions are measured at fair v8lue through profil or loss. Investments Investments In non•convertible preference shares and non-puttable ordinary or preference shares (where shares a￿ publicly traded or their fair value is reliably measurable} are measured at fair value ' through profil or loss. Where fair value cannot be measured reliably. investments are measured al cost less impalrment. Investments in subsidiaries and 8ssociales are measured al cosl less impairment. For Investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium Is ignored. Falr value measurement The best evidence of fair value is a quoted price for an identical assèt tri ari active market. When quoted prices are unavailable, the price of a recent transaclion for 8n identical asset provldes evidence of fair value as long as there has not been a significant change in economi¢ circumstances or a significant lapse of time since the trans8Ction look place. If the rnarkel is not active 8nd recent transactions of an identical asset on their own are not a good eslimale of fair value, the fair value is estlmaled by using a valuation technique. 3 In¢ome from donatlons and legacles Unrestrfcted funds General Restricted funds Total 2024 Donations and legacles Subscriptions Donations Gift aKI lax recOve￿d Legaries 315,369 28,313 59,902 315,369 28.313 59,902 403,584 3.484 407,068 25 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 Unrestricted funds General Restricted funds Total 2023 Donations and legacies Subscriptions Donations Gift aid tax recovered Lonsdale Trust grant Legacies 299.431 25,000 56,318 8,775 299,431 25,000 56,318 8,775 24,628 414 152 24.628 24,628 389,524 4 Income from charltable acllvities Unrestrlcted funds General Total 2024 Training income Branch 8Ctivilies 280,706 280,706 329,920 329,920 Unrestricted funds General Total 2023 Tralnlng income Bran¢h aclivities 177.211 177,211 206,230 206.230 5 Income from other tradlng activltles Unrestricted funds Genèral Total 2024 Fundraising Trading income 132,801 132,801 179.403 179,403 Unrestricted funds General Total 2023 Fundrgising Trading income 121,878 121,878 175 702 175 702 26 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 6 Investment Incorne Unrestrlcted funds General Total funds Investment Income Bank Interest Dividends recelvable from other listed investments 1.975 1,975 Total for 2024 15,806 15.806 Unrestrlcted funds General Total funds Income from divldends Dividends receivable from other listed inveslments Total lor 2023 7 Expenditure on ralslng lunds Unrestricted funds General Restricted funds Designated funds Total funds Donations Trading 49,820 59,513 49,820 59,513 Total for 2024 109 333 109 333 Unrestrlcted funds General Restricted lunds Deslgnated funds Total funds Donalions Trading 50.404 54,893 50,404 Total for 2023 105 297 105 297 27 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 8 Expendlture on ¢harltable actlvStles Unrestricted funds General Restrlcled funds Deslgnated funds Total funds Research 8nd education Technical and advisory Memb8rship, marketing and data management Media and publicattons Training Other activities (Gain)ILoss on disposal Deer initiative 28.917 155,292 1,800 30,717 155,292 360,503 22,965 230,243 54,102 360,503 22.965 230,243 54.562 460 Tolal for 2024 857 242 460 1,800 859,502 Unrestricted funds General Restricted funds Deslgnated funds Total funds Research and education Technical and advisory Membership, marketing and data management Media and publications Training Olher activities {GainllLoss on disposal Deer inilialive 22.834 139,675 1.550 24,384 139,675 262,997 67,777 174,034 45,493 1,662 262,997 67,777 174.034 45,493 1.66 Total lor 2023 719 113 1,550 720 663 28 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 9 Governance costs 2024 2023 Indep8nd8nt examination fees and other services Legal and professional fees AGM and statulory expenses 3,500 12,533 3.500 2,800 1,500 The ch8rlty Inlllally idenlifies the cost of its support functions.11 then Identlfles those cosls which relate lo Ihe governance function. Governan￿ costs and other support costs are apportloned separately between the key aclivilles for raising funds and charitable activities (see notes 7 and 8) in the year. Refer lo the table below for the basis of apportionment and the analysis of the support and governance Costs. 10 Analysls of support costs Support costs allocated to raising funds Governance . cos1$ General support Total ..2024 Total 2023.- Bas1$ of- allocalion Allocated based upon lime Allocated based upon usage Accountancy fees Governance Legal and professional fees Governance AGM and meellng expenses Governance Salaries and related c051s 141,136 141,136 134.358 General office expenses 150,560 11,800 5,862 150.560 15,300 18,395 127,743 17.320 1,500 3,500 12,533 317,917 337,450 286 994 Note.. Governance costs In 2024 were significanlly higher than the P￿vIouS year due to hvo Sn*erson Board meetings held in London and legal fees incurred for updating our ArtIGles of A5soeialion. Additional cos1$ were also incurred for notifying the Charity Commission, OSCR. and Companies House of these updates. 29 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 11 Staff costs and emoluments 2024 2023 Gros5 salaries Employers Nalional Insurance Pension Contributions Total staff costs and emoluments 368.730 33,542 9.486 411 758 318,365 28.055 359.638 Average head counl of employees Technical Support Governance There was one employee with emoluments be￿een £60,001- £70,000 (2023 £60,001- £70,000) The Trustee5 neither received nor waived any emoluments during the year, and no honoraria were payable. Oul of pocket exp8nses were reimbursed to 4 {2023.' 3) Trustees as follows: 2024 2023 Travelllng and accommodation 599 The charity also purchased during the year, services from Mr. A. Monkman for £1.673 {2023'. £1,385) and Dr Morris Charlton £877 (2023.. £554). 12 Pension costs The charity operateJP a defined contributlons scheme. The assets of the scheme are held separately from those of the charity Sn an Ind8pend8ntly administered fund. The pension cosls represent the contrlbutions payable by the charlty to the fund. In 2024 these amounled lo £9,486 (2023 £13.465) There were no outstanding or prepaid conlribulions al the end of of 2024. 2024 2023 During the year the following numb8r of employees accrued retirement benefits under the Money Purchase Scheme 30 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 13 Net income 2024 2023 Net incom8 is charged with the following costs: Depreciation Amortisation Fees for accountancy and other services 9,839 3.301 10,222 3,056 4,750 18,028 18,190 14 Intanglble fixed asset5 Webslte & other Intangible assets Total Cost Al 1 January 2024 Additions 110.445 110,445 At 31 December 2024 160 873 Amortis3tlon Al l January 2024 Charge for the year 110,352 110.352 Al 31 December 2024 113653 113653 .Net book value Al 31 December 2024 At 310ecember 2023 93 93 Development costs Development costs have been capitalised in accordance with FRS 102 Sedion 18 Intangible Ass8ls other th8n Goodwill and are Iherefore not treated as a deficit to Ihe charity. 31 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 15 Tangible fixed assets Land and Training Computer Office buildingsequipmentequipmentequlpment Branch assets Total Cost At 1 January 2024 Addllions Disposals 101,386 33,778 24,689 2,224 17,228 279 68.009 245,090 7,807 10,310 Al 310acember 2024 101386 75 816 246 846 Depreciation Al 1 January 2024 Charge for the year Eliminaled on disposals 101,386 24,452 21,931 2,605 2,066 {5,479) (3,0751 14,888 1,008 54.361 217,018 4.160 9,839 (8,554) 58 521 218 303 At 31 Oecember 2024 101386 Net book value Al 31 December 2024 17295 28 543 Al 31 December 2023 9,326 13648 28072 Included wllhin the net book value of land and building5 above Is £Nil12023- £Nil) in respect of fr88hold 18nd and building5 and £Nil12023 - £NII) In respect of leaseholds. 32 r• The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 16 Fixed asset Investments 2024 2023 Other investments 555,489 613,830 Other investments Ll8ted tnvestments Total Cost orvaluatlon Al 1 January 2024 Additions Disposals (OMV) Revalualion 613,830 613,830 160.765 160,765 <211.233) (211,233) At 310ecember 2024 555 489 555 489 Net book value At 31 December 2024 555 489 555,489 At 310ecember 2023 613 830 613 830 17 Debtors 2024 2023 Trade debtors Prepayments Other deblors 5,129 23,856 16.332 15.622 646 32,600 30.179 33 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 18 CredStors: amounls falling due withln one year 2024 2023 Trade credilors Other taxation and social security Lrfe subscriplion fund Accruals Deferred Income 15,160 13,920 10.876 11,672 1.897 13.300 5,050 121.806 129 794 34 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 19 Funds Balance at 1 January 2024 Incoming resources Resources Balance at 31 expended December 2024 Unrestricted funds Gener81 675.519 928,713 (972,922) 1460) 631.310 Reslricted funds 114,216 3,484 117,240 Designated funds Expendable Total funds 809812 932 197 975 182 766,827 Balance at 1 January 2023 Incoming resources Resources Balance at 31 expended Decèmber 2023 Unrestricted funds Gener81 743,253 788,999 (856,733) 875,519 Restrlcted funds 89,588 24,628 114,216 Designated fund$ Expendable Total funds 854 468 813.627 858,283 809 812 35 The British Deer Society Notes to the Financial Statements Year Ended 31 December 2024 20 Analysls of net assets between funds Total funds at Reslrlcled 31 December funds 2024 Unrestricted funds General Designated Intangible fixed assets T8nglble fixed assets Fixed asset investments Current assets Current liabilities 47.220 28.543 555,489 121,864 121806 47.220 28.543 555,489 257,381 121806 18.277 117,240 Total net assets 631.310 18.277 117.240 766 827 Total funds at Restricted 31 December fund$ 2023 Unrestricted funds General Deslgnaled Intanglb18 fixed assets Tangible fixed assets Fixed asset investments Currenl assets Current liabilities 93 28,072 613,830 163,318 129 794 93 28,072 613,830 297,611 20,077 114,216 Total net assets 675 519 20.077 114,216 809812 21 Related party transactlons Deer Management Quallflcatlons Llmlted DMQ is 8 nol-for-profit company that provides accreditation for qualifications In deer management. The British Deer Society (BOS) is one of several organisalions delivering training under DMQ accreditstion This relationship operates al an am's length and follows standard trading agreement. Income from the supply of assessment material is recorded within The British Deer Society's accounts. During the year BDS paid DMQ £31,482 (2023 £24.661) in registration fees. Al the balance sheet date, Ihere was no oulstandlng amount receivable from DMS. (2023: £nill. 36