2023-12-31-accounts

ho stein UK holstein & british friesian ¢* Annual Report & Accounts For the year ended 31 December 2023 www.holstein-uk.org

Officers of the Society Ple￿dent- Mr A Jones Chaimian- Mrw Gregg Contents Presldent's Report Reglstered Offic• Scope House, HortonV￿0d 33,Telford, Shropshlre.TFI 7EX Advisors to the Society Audltors WR Partners Chartered Accountant5 and Statutory Auditors Belmont House, Shrewsbury Buslness ParK Shrewsbury, Shr¢Jpshlre SY2 6LG Bankers Barclays Bank PLC 32 Clarendon Road, Watford, Hertfordshire WDI I LO Chalrman% Report Chlef Executlve's Report Report of theTrustees Strateglc Report 14 Report of the Independent Audltors 18 Consolldated Statement of Flnanclal Actlvltles 20 Consolldated Balance Sheet 21 Charty Balance Sheet 22 Fund Managers Close Brother5 Asset Management 10 Exchange Square, Primrose Street, London EC2A 2BY Consolidated Statement ofcash Flow5 23 Notes to rhe Flnancial Statements 24 knnual Report&A<counts FDrthEyear ended 31 DecembEr2023

PRESIDENT'S REPORT ANDREWJONES Whatanexceptlonalyearthls ha5beenforJennyand l.youspend311 yourli¥tstyn9tobulkl somethlng Inthe indu5tryandthenikrtofthe blueyvugttawlvllegè Ilke'becoming presldent tsf Ho￿t￿nUK.. started myfarmlng caTeerclipplng and wa5hingCOW51orsale5whilst tryngtobuild upa bu51ne55athomethatwould 5UStalna faMI￿,We thensotd0urm￿sreied mllklng herd everyfiveyearsandbulhltbockup galnvthlth wasa chalknge l enjoyed Immensety. Itwasthx3alesof reg15teredanlma15that made ttpv551bleforustobLry¢uitenantedfarm, 50methlngthotlwNI a￿aysbeetern0Ity Indobtedtothe reglsteiedbla andwhmecowfor. telorrfjfrfendsthey have made.The Llttlestaraward thlsyearwa5won /Tityfrten IYork5hire). the Dick aw¥dwa5won byGEor9e OuhramlWe51ern) andthe Loulse Harttyaw wo5won by Ellles tYikshlr•l. MovlngOThto theP￿$1dents Medal where1￿S￿oIned byctrludges A￿n 0￿￿n Isemex UKland Kafje Jones IFamiersGuardlanl.ThIswa5a partkularNghll9thformèwlththe 51andard ofessays5ubmthed belng hlghandthefinal sLXlndlV￿uaL% we InteNlewed•llkelng9reat ambassadNsfoTourlndusty.The￿nnerth1SYÉarwa5AllsonLawrfe Iscothndl whos•ctsntrlbufjon to HYBhas been ￿ept￿)nI1akn9wIth thevlslon shepJs5e55e5forthe Industry.Weare Indebt￿tOSernQKft¢ thenual>wnsorshlpofthlsse(Jon otthe Socw. The Sodetyls In Iwod p051fjgn rlght nowwtth a 9reatte8rn l•d by Mebnl•Harmlttand w￿h the addltlon of MlkeyH4lllwellV￿are now •b￿t9$t4rtfiThsr1thlrthan runnlny around puttlngfiTe$￿rtwotChthls Spac¥. Myyearstarted outwltha fantastlc coupleofdays laAJweba5edat theGrosvenorAmis In Pulford, 5pendlngtwoexceptlon￿day5tOur&rVj vad￿Jg wlts Intheareaforwhlch I would Ilketothonkourhosts andall theSpons￿$Whlth rnadelt posslbk. Notforgettlng ourts¥o ifter41nner speakersand oworganlslng cornmtttee. Myfirstdutywastoattend Tht(JreatYo￿shITtshOw, I vAIITemernbernotonlymeeilng knsof our trkntsteln famltythere butaL%owltnesslng thecoètss famltywlnnlng Holstelncharnplfmwtth thedav9hter¢fthi prevlous y￿￿$ChamPIon (a 5toryln ltstw). ¢on9thtuhtlons. Movlng on toothei $h￿sand opend¥s Itherewev￿eats1Qto cth up wtth lots 0tfrlÈndsoklindn￿￿hlth enrfchthe natknal Holsteln famlly. Th•HYBWeekend Rallytookplacè In AugusLwhlch was hosredty theSwthWe5tclutsthlswas ryfir5tVl5￿to aweekend ra1￿. Iwas ¥eryTThJchlookkngfrJrwardtothls event411 ama blg beI￿verthatUI young membersare an Investmem In the IndUsty¥fUture,￿staSYO￿ youngstockareln >￿rda1ryherd. As I sald4tthe￿rnA thes•young FeopkwlllshèpethefiJtureofL>ur Indu5tryandfeedlhe populalkirn bui theyunfortunatetyhavetheadded burdonofturnln9 aroundtheclmlte thangebu5 ty spreadlngthe messa9e.Wh115twe accewa9ilcukurÈis partofthEem15Ions PrOb￿M,Itl5 thesOlu￿0n,yJu. Andr•wJon 51denl ThedaybetseUKDalryDaywA5 theefficlal openlngofS¢opeHou$4the Holsteln uKoffi￿$ and laboTatorles inTelft)rd, openedbyTomCope andfatnilyin memoryofthelate5ueCopEwhose legacywrymuchll%*s i)nbMthintheSodety. inourdlarywas theAII BreedsAII 8rltsln Caifshow,th155sanewrt thlchenable5yoww membersto developthelrlwejkllls irKluding teamwcrKconyetln Jwlnnlngp10slngi 50clallsln> butaboveallknmrThJ teamand leadershlpskilb.Ourthreedaughter5 haveall benefrtedfmrn g Involved In HYBfN)mtht 5killsiheyhavedevebppdandthe null R•portaA¢<o4nts Fortheyearended 31 De￿Mber10z3

CHAIRMAN'S REPORT WALLACE GREGG Thè pa5tyearforThe Holsteltt UKGroup has been perhaps more knornal'than pievlous years a5 all ourevents retUFned lo norrn)I after dlsnjptlondueto Cothd-19. Oursoclety is kn a robust fivanclal state blrtllke 50 many othew bu51nesse5 In the currentcllmète we 4re not Immumto Inciea51ng costs and ststlc Inrorne but I can assureyov thattheTwustee5, through our newly Implemented five year strategyiare determlned to dellver resuhs so that our memberscan rèalty seethe benefit of ￿gIsterIng cattle by Incieaslng profftabillty, Improvlng Infoimatlon transferi provldlng educatlonal opportunltlesand rbQtfr•rgèttirtg provldlrwj numerou$ opportunltles for sotlal Interartlon. To thlsend Mlchael Halllwell took up h15 Posifion as Group Comrnerclal Dlfectoiacr055 Holsteln UK the CIS and NBDC and Iwelcome hlm to the staff. Wlthln Holsteln UK, reglstTatlons and MeMbe￿hIP has ￿maIned qulte 5tsble whl<h l$•n<ouraglng a515 the performance ol C55 whlch 1$ mllk recordlng about halfthe GB mllkworded dalry cow populatlon as well as offerlng numerous dlfferent bovlné health tssts. NBOC ir•classlfylTrg more anlmals than ever and Thow offer servlc• to22 dlfferent breeds of catth asw•ll 8$ genomlcte5tlng. It was a pleasure to wekome the Cope fBmlly In Septomber to offlclalty open Scope House,our new Headquarters. The51mplé definltloTh of Scope Is'spaco or opportunlty ftIT actlon oi thoughv. nd our new premlses h￿e encapsulateil th15wfth thè CIS laboratory now fully owratlonal aml fully VKAS accredlted in the la5ttwelve month$. modem spaclous accommodatlon forour staff and Meeting roomfacilltles to accornmodate Holstein UK Group and other a9ri¢ultur41 organlsatlons. The Premler Herd Open Day atthè Alrebuin h•rd of the Moorhouse tamlty wa5 a treme1￿0v5 Success and we lookforwaTdtothls yeai's Open Dayon the July hosted at Pawton Dalry by thewllls famlly fW1115bro Ho15teSn5 In CorThwall. Our Natlonal Holsteln 5howwa5 once ag?In held In mld.Septemberat UK Dalry Day and I know no one would dlsagree thatwe were treated to probablythe besl Show oIHolstelns forqulte some tlm• and Indeed thewhole show hos grown to bethe preml•r on•4ay dalry Industry ev•ni wlthln the UK, A$ Chaliman but also as a parent of HY8 member4 It wa5 a prlvllege to wltness the 5klll. knowledge, dedk3tlon,and not forgettlng the bllltyio haw fun, of all ouryoung mernber5 overthe18st twelve krdhYeth'uKPK￿￿￿tr¢?1)pttittSF1.R¢gldhaIIl'j1D - AThTrual Report& Actounts Fortheyearended 31 Decernber2023

All Bre Britain SE Ex SEMEX Holsteln Natlon41 Shwrnanship Ch4mplonshlp-Wlll Hotslty,JodlèNutsford androm DennI￿n months whètherthèt was ot the ABAB Calfshow, HY8Weekend Rally or PresldeTrts Medal applicants.The future is In sale handsl Truste￿ both past and p￿se￿[ It has been an hoThouitO 51t On a boord wlth you ond I thankyou all for dedlcbtloTh and Ilm• commltmentto ensureth• contlfiued succo5$ of Holsidn UK. On behallof Holsteln UK I would Ilke to th•nkoui outyolng pr•sldent AndrewJone& and hls wlfe Jenny. forthelr work In the lastyeartravelllng farand w5de across ihe UK repre5entlng the Soclety at mectlngs, 5how5 and dlnners prornotlng all thai Is good •bovt reglstering cattle.we wtlcome ourln¢omlng presldent Nkk Helyer and lookforward to our annual AGM Incorporated In the Ho15teln Celebratlon In WItshI￿ thls summer. Fln)IL¥.lo the Ntsrthern ITeiand club and e5peclilly n)y famlty and 51off a huge thankyou. ￿WaS your SUPFbort and •n¢ouragemtnt that enabled me to be a Tyustee and Chalrman of Holsteln UL tt has been an honourto represent the largest Independent breed s￿￿ety In Euroy and can I wlsh all our members and th• 5ocS•ty •very success In theI￿vre. A51 nearthe end of myterm as Chalrnmn and slx years as aTrustee. could I thank all th* stsff on your be￿lf and per$tsnalty.They are tslented, hard.worklThg and a pleisureto workvAlh.To myfellow W•llK•Gr•49 Chalrman Rqport&AcmuntsForthe year ended 31 D￿eMbEr2023

CHIEF EXECUTIVE'S REPORT MELANIE HARMI 2023 sawtheofklal openkn9oftheHolsin UKGroutys new HeadqUart￿SInTe￿OTd. NaMèdaftèrourpre￿OU$C£QSuecQp&, osadlypassed awayln Mty2022folbMnyaverybra%ebatt 111r￿% Scope Hou5ewovidescontemp)rary0ffic￿ cthknc• e5andCISjab￿1t￿ySpJLeWhlchd￿mI)Ie5lhefloofspaCe ofrHou5taNJg￿5 uscapacltyforfvtu￿exP￿u10n. On 12th Septernb￿ 2023.over i¢)oxaff.TNses and mtmbor4 p￿and present,wereiointd bytheDepLtyLord Lleutenant of5hropshlreandfelowlndustrypeopJetoseetheCope FaMllyarttheAbbon.Every¢rn￿Joyedètour0ft￿faciir(È lurKh andan0pportunttyt0utch-￿th Mend Th￿We￿efe1MgenomICte$ts p￿essed[W NBDCln 2023 a5the AHDBHÈtdAilvffjrePfoJertfintsh InQl.Ihethrargok￿IIc teS￿n9(￿t￿CI whlth %ya5award ttNeogw began InJune2023. AHDBlrthased ruTh5tofortnlghtly InOctobw23 pmldlngtsster re5utt tuMar0￿d1olrnembeTh AHDBp￿n tomovetoweeklynms IrornApr1124. TheCISlatx>raW movedto kopeHou5eatthEendofOctober 2023.Th15was laterthBn orlglna1￿an1ldPat•dtrththèUKAS accredkafjonprixesscannrtberusWThemo¥etooka huge amauntofplannlng1omknlmlsedlsr￿10n tOs￿CeS butDena and herteamdldatsemendousl0￿1to$￿jndtrfult0h1vt all¢fth•T•Word thff underonerr>)fo￿ea9a1n. Thètsam Inspected 141A21 cattkdurlng 2023,4nlncrea5eof 5296on2022arKlexceedlngthèprevloushlghln 2017.3A50 herds auos$ 22 breeds IrwltedoutCh551fiersonfami artd￿ arewy9ratefulf0rihewarn)￿￿OmetheYrÈ¢e1¥& MR•¢•nI1ho•ndAhhn￿ HMhT•rfng AnthIl¢k>nal74h￿dIbI1ry1ng 20ffj7SctyvsJoknediheCattlè Infmtk)ThSèthcèlCISIkn 2023 &dthng tothewth In pr•vlous rs.Oftho5e ￿Whe¥d&38wern ntwtomllkrecordlrgand ar• rn8p1ngthe￿rthour$ervkeSi8n pr0vld&Vnfortunately,￿ bst47 heMJ51n2023,le55ihlln1Th2021'28 duetothefam15(ea51ng woductlon whkh Is sadlya recur￿n9theMee1Chye8i.TheClsWnikn￿è5toprOve a wl5elrwest￿￿ntf￿thesO(kty.I￿￿gS1gThffiCanlprOfit$e0rhye•r, and0urknwstrnentlThn￿ye laborntoryspaceand newequlpmentat HortonwoOdwlller￿UreWe4rewe1IPè(e￿l tomantyefutu￿9ro%￿. Th•besF4ecothMntèfacllltle5 createdat ScoFe Househave been la￿l0￿S addI￿ont90￿rp￿1l￿weIr•lntheé4¢tys￿0•S ofmaklr sycèava1la￿éI0rU5ebYo￿ts[de9TgInlS￿tI￿s butdurkn9 2023 thw¢were4 ran9e•fbooklngsbthlch u5hortor9nl￿tknS swh a5MoleVyFarmer5, Lanc85hlYe Holsielncluband RedTractor. Borlngseathnfor2024 Ind￿ethestaIfoTdShIreWd Detyhlre Fljlstdn ClubsandlheBeelBreedGwuB Ifyou are In￿eSted ITh arranglng a Holslelnaub￿slt0r kn￿ ofa Ilke mlndedorganlsbtlon thlltneed5a centralhxaYonforthelrmeotkngst4easekt usknow. are¢rtCéagaln re￿rfng posthefinanclal resullsforthefjro Ho15teln UKcontlnuestf>tradeata b55(athoughat kMrJevels1, howevu, thetharStyrema5nsvlab￿throUghthe supprrtofHolsteln Ufs Investm•ntsandoth•rcompans Mthln thefThB The updatedfive- ywstsotwofasplratlon¥oblectlve5 andactljnswhlchmustbe m•tlrb +ydrtod•llvwourcharltabIeobJttt￿oscontInuest0gL4dee¥ryth1ry do.Théstrategycovthng 2023.271savallaWeonwrwebslte. HolrtdnlA(contlnues In Itsconwnltmqntto promot• nd ImpTovethebr8edswthlnthtHerd Bookby supportlngand represenllryjowmtmbeys. rcontlnuèd pYwncateven15throughouttheyw.froM DalryTech stsnlry the shows￿1￿n In FebTUarytothe W UlSttr￿￿tlrFa1rdoslngIhe$h￿s1ftDQcQmk¢rv1all1Ofth1 faTht45tlcvenue5 In Eetsveeryglve$usthtopportuntytomeet mwwofowmembersand5eelngamazlng pethgreeco IA•mb•rthlp Membershlpnumbers In2023 arE51yhttydobvncompredto20211n InEwhh lndu5trytrendsweunlortunatetylost444menknrs, ￿￿¥ever, 173 newmernberssawthevtheofpedkJreeandldrdihe5oclety. Thenomlnatton51orthL%yearYHoLffelnYoung BrpederlHYBloward5 w￿￿onea9a1n¥orystrOn9 Ma￿r￿thede<15IQns verydlfficull Congratula￿0￿$ toPresklent¥MedalAwardwlnnerAIls￿ Laurle (Scotlard,Lothse HardeyAwardknneTEllleSaxbylYorkthIMl￿d iMestarAWard￿nnerTrllyGr¢env￿0areall great ambassadorsftJrHYB. 2023sawthefilsta￿rds fromthesuecope Bwsary.'WlllnNeale,SionedMorwlsandl￿Tht)rnO$ recelved Co￿￿￿on$t0￿￿rdSt￿￿r0ngo1ng edUCat￿nand tralni After reglstratÈ￿s In 2027 and 2022 oftwer200,(1)0,20235awa falof 7%to 194A54wegi5tradon5,51milarto 20201ovel&2024wlll seethestartdourpr4ectto ImWoveour￿mbeT4nd cuAcmer fèckng ty5tem5.W0rkis¢n￿ngtoen5UreWeale preparedfor changes InGoveMmentSyStem￿PwCe$St$fOrthfQ9i$tra￿0n ofènknal blrthsand movtments acrossallthehomenatkn The￿bMISSIonsforIhe 2023 L￿me￿h￿nentAwardwereso thatthe BoardofTrLtstÈÈsmukl noideckleonlustmel Mary MeadDenn15 smth andAubreyGreenhaW ￿t￿nomInated bythelr b5forthwrdedlcat4oTrtotheHo15tth and Brft15hFrfeslan breedsovr ManY￿a¢sandthe Board decldedilvwerealworthyl￿nners. Mary recefved herawardattheBCBCAnnualCOnferen￿ DIn￿rinjanUary, SalesofApprovedRegisteredcatt￿eartags contlnuetobestr andP￿e$are[égU1aty￿e￿edtr> en5urethis reMalThSava￿ab rnemberbenefiLOppryiunft*stOsdltomorecolowed breÈdsoe bang Investlgatedtobenefitfromfixthetvolumedi5count Annual Report&A¢¢ounts Fortheyearended 31 December 2023

Autwr￿lVe￿hls awardattheAII BrSts1nAWa￿rl￿er4Thd Dmat DalryExpo In FebN4ry•nd Dennl$MAII receivt hi14ard Ltsintheyear. The AIIBreedsAJI8rftth (ABABI Cawshowhad a nvwvenue, NAEcSton￿h.Th1SwdS￿F￿ntastic locafjon to showcaselhe handling skil&ofouryoung mÈmbEf5 and theli ca￿. Brfan and JudrthMoorhouseoftheAlrebum Holstelns wlnrffi of t￿2022 PremluHerd CornpetTtIDn, h05ted membersat Fk5peT Farrn cfi 15tAugust 2023. Robert& MatthewWllsofWIL%bro H)lstein&PaWt￿ Oairyarethe2023 PrernlerHeTdCompetllkn %%lnneTS ondwlll hc4dthelrOpen Dayon 2ndJuty2024. AndrewJon@stookt>verthÈ pre5idencylnJune 2023.Supportedbyhls wlfusfood aNlwatchfantastTcentertainment Andrewand lennyhave been a real a5settothe Sodetytravelllngfarand wlde iepre5ent5ngHo15kn UK TheHYBWeekend Ra1￿InAUgUst2O23 was ho$ted bythe SthWe5¢c￿tsITrsDrnerSet Fami v15h%natlonalstoth Ju&3lngand lkne4r)$5e5smentcompeUtlons Int•K￿b Mesandt￿FI81&24OtocornPèrftlon provhled afantastk £hancetocompet¢soclallsearnd relaxwhh friends. lam4rygratsfvlto havehadthe 5UPPOrtoftheChalm)an,Wollxe fye9&andchal￿an Ele¢ Steve Hlll, du￿￿9 thel•styear. Belrwj Chalnnan ofthesodety Is asl9nlfiranttlmecommRmontond Iwouk Ilketoextend mythank5toWallacesand Stev¥5fam111•5foTthdvsupporL FI￿11Y,thank>￿U toattofour m•mbersand custorner50fC15 arA4 NBtK.IMthtArtOUTmemberstherewould ￿ M50thty and l kn0kfOn¥a￿t0yOur¢oNtinUed support In 2024. The5Un5hone In Septemberfor UKDalryDaywhkhWè5￿ce •J3ln a huge su¢wswthafantssUrdlsplayof pEd￿rEea￿lrna onslww,re(ordexhlbltoi numbers anda steidystieamofv15ko throughouttheday.Theon9olngsupportfrom the Industryand ourmembtrs Makè5 allthe hardworkwhlch goes lntoh0s￿￿gthe eventworthwMe.L12zleY*e&ontofouremployee4wasawar thEHward Snee5by Awardfortheworkshe has put Intomaklng UKDalryD)y4succ•M ovttth•y•ars. UK Dalry Day2024wlll 5e¢us (￿bratIng the 10th annlver5aryof ourevent, pleoseiome alorwj tosee the speclal<ommernOratlvethlny5￿ hiveplanned Chlef E¥ocudvè ?02.3 Nation31 Holsteln Show Champi Ivening Sideklck Jennifer EX93 'Ito Annual R•port&knwunts Fortheyearended 31 Decernber2023

REPORT OF THE TRUSTEES TRUSTEES'REPORT TheTrustees p¥esent thelrannual reporttogetherwlth audfted financla15tatementsofthe char￿able Groupforthe year l January 2023to31 December2023.TheAnnual Re￿rtSerVeS thepurp05esof b)thaTrusteEs'reportand a Dlrectorfreportundercompany law.The Tru5teesconfwm thatthe Annu•1 ReportandfiNn<lal statementsof theth￿tabls￿P£OMpIY￿ththe(UrrÈnt statutory requlYemeAt% Iherequlrementsofthechorltsble GIoup5govemlng thcument ènd Iheprov151on5 ofthe Ststement of Recomrnend￿ PractlcelSORPI applcableto£harltIÈ5 preparlng thelraccounts In aCcordèThCe￿h IheFknanclal Reportlng Standard appllcable In the UKandAepubllcof IrelandlFR51021 leffeL11ve l January20191. Thttiusteeswho served durlng the perlodwewv. Elprtèd 2014 Mlchael Smale Retlfed 28.0623 FarWe5tern Peter Prfor Rrtlred 26.0623 South Eall &Ea$tern Elected 2017 Sandy Plrfe scotland El•cted ?01 S W411ace Gr•99 Northèrn Ireland TheaudltedcM5011dated financlal stements compty wlth the Charkle5 Act 2011.thc Companles Act120061 and theChartt5es ccDunt5and Report51 Regulatlon5 2008.TheTrusteegRepc+rt Ilncludlng thestrateglc report) andfinanclal statemerbts ale submltted ttsthtcharltycommlsslonfollowlng approval bythe membershlpat the AGM. JaneWhltt4ker NorthWe5tem John Hartley Lancashlrt TheChJtltyl•lso r+f+r￿ to asth•"Socl•tyl was Incwporated on 25 November 1998 and Is governed by Its MemoiBndurn•ndArtlc1•50f A55o¢latlon. M4tthew Wlnt•r East Mldlands Stephen Hlll North Mldlands Illam Imllhn Northwales Ho15teln UK Pre51dent¥ MedalWDner Allson Lawrlè Andrewlmlllamson North•m Elected 2021 RlchirdThomas sc￿thwa1eS B•nYates Southern Dèvld Lawson Yorkshlr• Elocied 1022 Jamés Ballle Scotland aalTeJones West Mldland5 Da￿ Coryn From28.0623 Farwestern Wallace Patton From280623 rthern I￿ts￿d

OBJECTIVES AND ACTIVITIES 1% ￿rat•gleS1ora￿leW5n9 •bJ•dlves The Charfty alms tClncreasethèefficlencyofdalry¢attle, specfficalty Holsteln and 8rltlsh Frie5ian breeds, in asustainable manner con515teThtwith the athancementof anlmalwelfareand environmentsl proteaion. . Pollcksand •bJe¢tlves The oblettyves of thetharityare tOSLlPPOrtthe devekspmeni of the UKdalrylndu51rybyfocu51rw on breedlng pedigreeHolstelTh and Brlt15h FT4e51an cattle in the Vnlted KIngdOm.T￿ SO[￿tya150 supports other tharftlEs Y)rklng In the dairy industrythrough the prov151on of seivices in support olthelroblethes. A5 a member or9anlsatlon. Holsreln UK repre5entsthevlews of Itsmembers to those wlth Influenceor Interest In d•lrylng ft)i the furtherlnterestof thelndustry. Adlthle6ynd•rt•k•Nts•rhlmoW•alv•s Atthe Af4A In Juve 201&theCharty l)unched itsfirst5-year5tTrteyy foriheperlod 2018-22 whkh IncoTporatedleedback frorn Member5. The Mraregydocumtntwa5 updated by theTru5tee5 durlng 2023¥nd thestrategyfor 2023-27 (an befound on the Holsteln uKv￿b5lte, however.fjn sumrnary¥the 5trategycovers the folowlng.. Insettlng Oblert￿ and plannlng for actlvkles,theTrustees have given dueconslduatlon to 9enerèl yuldance publlshed bythe Charlty Commlsslon relatlngto publlc benefi¢ Includlng the guldancePubllc Benefft.. runnlng ad7artylPB2Y. BREED DEVELOPMENT ASPIRATION To h•¥•th• Idul<ow￿l￿Inth• Holrt•ln UK Httd Bookforth• iIK •ndlnl•rn•tlon•l m¥k•ts. owecTNE ACTION l.Dev¢lop the Socletybreed$to melt the demands of dalry producer$, 2. Provldetools and servlco5 toald Improvement Inthe fin•nclil v•lu• ofthè SrKlety breeds. . Encourage and •duut• producrs iboutthe benefits of 9enetk galn, . Become fam)ers'fir$i <holcefvr genornlcte5tlngi a n)tlonal IEadèrfor the5ervlc•. . ￿ornote1he beneffits of uslng Independent mDtSng5ervlcoL . Mtasutsthefinanclal Impact oftype Impwvementand promotethe beneffts. .ConfjnuallyTevlewtralt5 collected and add new tralts when n•cessary. . AThnualty revlwthé model cowtoensuie Its relevance tD &lry pYoduc• . Intsoduce )n Inteipretatlon s•rvlcifollowlThg herd type wltsotlon v15Jts In ord•Tto m￿lmISe usefuln•s RESEARCH & DEVELOPMENT ASPIRATION Th• UKHo15t•ln •Thd0￿lISh Frl•thn br••d•tob•th•l)Mtplllud br••d ¢hol¢•sft4r411 UKf4rmkn9ylt•ms•nd b•r•wgnlMd Intsrn•tloMIIy. OBJECTIVE ACTION l. Ensure VKdalry farmers recognlse evldence arKI under5tsnd thebenefits. . Introduce researchto deternilnethe relatlonshlpbetween conforma￿Ofi and Pfofitabiltty. . Investlgate corielatlon oftypetraltsagalnst productlory heakh and fertlllty. .AThalyse productlon an(1 typedata toestsb115h lOnge￿ty3Thd profitablltytr¢ndsfor tompar150ns whh other breeds and ctYJssbreÈds. . Partner vlth ￿se81Ch estab￿shme￿tsto Investlgatelssues reyardlng sustalnablllty. robustne5sand envlronmentsl Issu• 2. Ensure Internatlonal dalry<attle Ixeeder5 understand thestrength5 ofUKgenetlu. 3. Share data to provethe relatlon5hlp between the use of Hobteln UKservk•s nd herd profirablllty. .Woth wilh typeevaluatlon team5totrnck wogressand dliertlon. .Communltate re5eaKh findlngs wlth member5 8nd promote benefiis to awidEraudknce. . KeÈp up to dalewith external research and Commu￿8teffindlngS tomemb¢r5. . Recommend changes to seTvl<e5 and product5followth9 research projects. Annual Aoport&AccountsForthe year endEé 31 DecembeT2023

FINANCE ASPIRATION HDIBt•in UKto hav•socure longt•rmfuturnd remaln th•larg•stindtp¢ndentbre•d SKi•tyin EuroF OBJEcn¥E AclloN l. Ensure FkJ15telrtuKtsfinandal￿V1abIe both 5hortand longteThr 2. Ensure the Holsteln UKGroup Mmalns arelevant bodywllhln the thmestlc and Intemational daty 5ector5 through Inve5tmEnt. . EThwre the Holsteln UKGroupoperate5 ata profitto allow relnvestment. .Spreadthe rlskof Investhien15 vJ6th an empha515 on pr)￿rty. .Aetum revénuèttsthe ¢h¥i(ty thu9h the subsld4rl•s wtthts￿ ￿rMIn9th C+)mynl•< growth. . Produce monthty rnanagtrnentJccounts byworklr4J dayten ofeath newmonth. .Compllethè Ho15teln UKAnnual Reportfollowlng complètlon of audthl accoun . Have roburt Intema14nd extemalaudltsand procedures. .Malntaln rfsk reglster and revlew annual￿ta Rduceexp05ureto knblifty. . Revlewsuppltercontractson an annual ba$ls. . FoliowcoTrect protoco15for purthists and expendlture. VOICE ASPIRATION Ho15tdn UK m•mb•ri ts ha￿¥ volc•atlnd4b5twy and Govwnm4ntl•v•l. OBJECTIVE ACTION i. ensure Plol>tekn UK understands membÈr tsplnlon. 2. Havta unSfied rnessageas a polnt of referenc¢forall member5. 3, Have an èstabllshed avenue of communlcatlon tolndustryand Goverrffient. • Dewlopa PrO￿55t0 mlect mtmb•r oplnlon and dl35emlnateleedbJ¢ . Devekp a unlted messay r•gardlngthefvture olthedalry Industy, whkh represents the mtmbershl +Forge pJrtTher5hlpswlth Cu[￿nt Industrylobtyn9 partle5. .Prornote the benefits of ieglstered cattl•to mllkbuyer$8nd Mallw5. .Workwlth Industry partner510 $￿port wnsumew enga9ement and piomotlonof dalry products. * 5hBrelndustry ￿W&edUCatIon and d•velopmentswlth memb•rs. . E5tsbllsh key datèthatwlll support communIca￿0Th. .Traiktrends whhlnthe Herd Book9enetk5 anddeveloppredktlon5 based on pJst d•t•. . Address lffjlilaiion mattws I￿tdOreCtty Impart memb•rs. . Compllèa <omrnuThlc8tlon document hlghllghtlng theforw•rd plènnlng requlred by memb¢r5 to mé fuiur• mllkcontracts. 4. Have robustfads and figuresto support communlcatlon. 5. Become a 50ur<eof dats for the Industry. i Respond toGovémm•ntconsuhatlons on behalfof rrt•mber . Develop dlre¢tcornmurdcBtlon wlrh servlThg Mp'k COMMUNICATION ASPIRATION All m•mhrs •r•fullySThfovm•d •hd•du¢•t•d•nlh•Sochtyand r•l•vhtlnduitry¥thllw. ACTK)N 1. Ensurn Holsteln UKmernbersfiAIy understand the acti￿tIeS gf the Soclety. 2. Understand Ho15ts1n UK member need& . Use TheJourrrt71a$ a tool to keepmembÈrs Infomie .Gother communlcatlon data from members. su<h a5emalladd￿s5es and moblle numbers. . En$U￿GroUp new5 iontalns upto dth Informatlon on ser￿CeS andthelrbenefrt . Revlewcommuhlcètlon avenue5 and make ￿sE use of newtechnologles8nd tools. . Ensure UK Dalry Dèy. Holmeln UKevents and attended sh¢M5 become a portsl tosh¢)w(asÈ Socletyactfvlty. . Use the nèws stclons ofihe Groupwebstte5and soclal medla ttskeep memlxrslnfomed . EnsuretlM•lycommunl￿tl0n of eoawd ded$lo￿t0 all members. . EnsureTrust••s have upto dateSocietynwdM tocommunlcat*N%4th Clubs and member . Effeclively(aptureaffillated Clubs'oplnlons. . &itherfeedbackfrom mtmbersand acllon a5appropriale. . EThsureallways of communkatlt)n meetGCfR leglslatlon. 3. Ensure HolstelrbUK members <ontrlbuteto and knowthe strntegyforthe Soclety. 4. s￿re rèlevaThtlndustry developments through socletycomMunl<a￿on thannel Afftnuil Report&Accounts FNthe yearended 31 Détember2023

RECOGNITION ASPIRATION Hokt•ln UK awardito bÈheld wlth high r•Jird wrihinthe dom05tlcandlnteMatloMllndustrl•i. ACTION 1.En5ure Indfvldualcowawards gre relevant to the whole Industry and recognised as addlng value to theanlmal. 2. Ensure herd awards recognlse management a5 well a5 genellc quallty. 3. Ensu￿ memberawards aiknowledge pefsonèl achlevement& . Revlew all awards and assessthe relevanctof eath Soclety accolade. . Invesll9ale [￿W award5 ￿[ch re(0gn15eherd maniyem¢nL ￿ttle healrh and wetra￿, 9enetksand effirlenry. * Compare UK awardswlth Internatlonal competltlons and d•v•lop owards thèt haye glob•l recv9nltlon. . Introduce markellny plan5foreachaw8rd. . Develop a calendar of award5 and rnaelt avalable to all member5. . Promoteaward wlnners Internolty Ind pxtemally to ra15e proflla of awards. . Engège￿th natlonal a9rlcultural pre55 to helghten coverage of iward wlnne . Complle a datsbaseof reglonal press contsrtsto recogn15e ¥w?rd wlnners wlthlnthelr local awea. . Develop and malntaln a Hallof Fame ofawaid wlnner5. GOVERNANCE ASPIRATION Holst•ln UK c•ntlnu•s to strfv•to m••t Ill thrft&bl• obJ•clSv•wh4st •thptlhg tgth••volvlng dalry•ndigrl¢ultur•l Indurtrl•s. OBJECTIVE ACTION l. Introduce? fveyear strit•glc plan forthe Charltywhlch Incorporates the sub51dlary companles. 2. Meet Holsteln UK'S rharltable oblertlv• through consultatlon wlth 5tskeholdevs Imembersl. . Ensuie 9o¥ernonceofthe Ch)rlty Me•ts kglslitlon, followlng ChirltyComm155lon guld•llnès nd rpT•5•ntlng 5takehold•rs wlthoutdlscrlmlnatlon. . EnsuieTrust••s conllnuéto r•presthtthe S¢)dety and member5 wlthlnthelr•l•cted reglon, actlng as a volceformembersand communlcatlng develgpmlnts at Soclètylevel. . Ensuiethe Board ofTrustees meets the Charlty Cornrn1s51on guldelln•s, ru1•5 and regulatlon$. . Ensuwe nomlnatedTrustees recelvetralnlThg beforelolnlng the B¢•rd. . Ensuvethechalr Df the Board contlnuesto actas the dlrect cornrnunlcatl?n polnt between theTIu5tees and CEO. 3. Have robust procedures In placeforall processe 4. Meetthe requltwnents of new and exlstlng ￿le¥artt leg151atlon. . En5uieTru5tees contlnueto beresponslbl•for$hort•nd lon9 term strat•gy. . Ensuie man4ement rernaln5 re5pon51ble for all operatlonal actlvlty. . En5uieTrustee procedures follow theArtlcle5 of Assocl)tlon,whlch wlll be revlew•d ènnually pilorto thèAGM. . Revls* the 5tTrtegk plan and amend, wh•r• n•c•ssiry. èverythreeyears. OPERATIONS ASPIRATION Hol¥t•ln VKIs op•r•t•d uilng m4xlmum •fflntinue to buikl on the Integrftyofthe Herd BDOK wlth on emphasls on iracèab4ity. . Devek)pa rEsDurcEforthe mernbeTshlp to FKovlde advlcewhen In tlmes of Industryadversttyi 1 5ucha5 disea5eoutbreatrsorantt dalrycampalgn5. . Ensuiè Grwp rore 5ervite5 remain a5thefirst pr{oT￿y.wh1l5t looklng for opportubrtlesihat will directty OT indlrectly benefit members. 3. Maketheapwoprlate Investments In IT and equlpment to glve maxlmum benefit tothe membership. 4. Ensure operational processes areflexlble to meetfuture developments. Aqport&Accounts Fortheyearended 31 December2023

QUALITY ASPIRATION Ho15tsin UKGroupdat4 is provqns ind•pend•nt and rq(09niMda5fir5tdau. 08JECTIVE ACTKIN l. Have accmdltatlons In plate from extefflal bodle5 to glvÈ confidente In dat lleCt￿ and distribution. . Follow guldellnesand rtcommendatlonsfor ISO..17025 IUKASI for ill approprlaie servke . Partlclpateln Internattonalcommltteeof Anlmal Recording IICARI ac(vedlt3tlon Schemes. . P•rt•k• In •xt•mal audftsfrom rlng t•St(NJ wlth Ilk• rnlnded organlsatlon4 both formaltyand lnfowma1￿. . ConfoTmto UK and Intematlonal leglslatlon. . Revlew domestkand InterThatlonal procedure5 to vlew opportunnles for Internal Improvement. . Documentall processesto ensure servlcesandlor ploducts •redellveredcon515tentlyevery tlme. l Have con515tent procedure& 3. En5U￿fUll confidenceln data handllngi 3tgragearKI ￿PortIng. .Ensuwe seiurftyof system& MEMBER DEVELOPMENT ASPIRATION L•Jd•rJ wlthin th•dilTy industry hav•b•n•fit•dfrorn b•ing Th•mbwsof Ho15t•inYoun9 Br••d•r5 IHYBI. OBJECTIVE ACTION l. Ensure HY8ls s••n asan •ducatlonal organlsatlon. 2. Ensure HY8mèmbtrsxpèrfènte 4 ringt oldatry related opeiatlons. 3. Usecompetitlons to Improve knowle<t9e whllst enctyjraglng new partlclpatlon. 4. Include a networklng element sn events whlch bullds Indlvldual connectlons. . Fwm p8rtMrshlpswth 8grlcukur•lcoll•g•$ tocmatè opportunltleslo speakto dalry student& .Wden areasof Iriterèstwlthln HYB toittnct nort Holsteln uKfamI￿ member$. .Cieote awords In partner5hlp extemal bodls. . Encouwag•ix(haThgt PTogrnms natlonallyand Int•rnatlonalty. . Revlewèn411 nete5sary, Iniroducecthnpetltlon5 that encourageall 5klll levelsto peii¢lpate. . Expand wards avallableto Incorporate al elements ofthe dalrylndu5try. . Introduce publk 5peaklng tralrslng and opportunltles. . Promtstèthè bÈThÈfits of Dalry Protralrtlng to HYB mèmbers. . Reglsier Holsieln UK and HYB •venis and actlvltles wfth Dalry Pro to addvaluefor rntmbets. . Stiu<lui• m•ntorfn9 schem•s betW￿Tr ￿nIorand HYB mémbers. . Intiodu<eonl1￿ competltlonsand award5 to glve rnaxlmum rèturn on lThv•stMènl, 5. Ensure HYBactlvltles broaden knowled9e bnd sknls thatprov• us•ful In car••i development. d.VolubTh Holstdn VK does llot usevolunteer5 to achleve Its 0b1￿tfveS. •.M•lN thrtl¥ttl•i und•rt•k•n iofvrth•rth•Chirhyts puwimlforth•￿bl( b•bfii In sètfjng outour alms and obJectlves, theTru$iees have glven (Jrelul conslderatlon tothecharfty C¢mmls510rfs general guldance on publlc benefit and In partkularto it5 supplementary publlc benefit guldanceon the advancementof anlmal welfar¢ the èdv¥ncemElltof envlronmentsl prote(tlon or Imwovement and the advancement ofeducatlon. and fee ¢harglng.The Chailtyalm5 to Inireasetheefficlencyof dalrycattle, 5pedfically Ho15teln and Brltlsh Frfe51an breeds, ln a su5talnable manner cons15tent wlth theadvancement of anlmalwelfare and envlwonmental protQttlon. Membership of ihecharfty Is ovallable not only tothose whose Interestsare In the hu5bandryof Holstein and Biltlsh Frle514n (attle butthe wlder publlc.Wthln thecategorles of mernbershlp there b5alunlor sectlonforthose aged up to 27 years of agewlth 5irnl￿r Intorè5t£ tothoseabo% d againthis sortion is not r•strlct•d.Tho Charity also off@rs a roducéd aS￿clat• m@mb*shlpfor thosewhowlsh to malntaln ac(wnmunlcatlon lth theCharlty.TheTrustees do not conslderthe membershlpfeesfoi theabove categorle5 restrlctlve.Tiustee5 are leviedwithihe5amefeesfor 5eivice5a5th05e incurred by othEr member5 olthE ChaThy. Annual R•port&A¢(O￿ftIIFOrthe yearend•d 31 DecernbeT2023

STRATEGIC REPORT ACHIEVEMENTS AND PERFORMANCE TheChartyeywrest￿tp￿f0￿an£els mgnaged egalnst approptlate benchmark&Thekncomefromlnve$tmtntsfortheyearwas£45,284 (2021. £445931andkn￿5ImeThtgaInstota11ed £88A3912021.£179M8 lossliecovemg almosthalfofthe k)55es madein 2022. A(￿Sthe055t1 dJ55E%return5weregener311yin lineknrfth bÉnthma￿. A reviewofthe l$C￿d￿tede¥￿ryyear. .Mln xhlev•maffttsof the Charfty Thèprinapalact￿ltyotthe char￿ISthat0fthe promotlonolihe Holstekn and Brtttsh Frie5ian breed5and the recording and malnteNqnt•of pethgreeTecordsforihebenefitofChartymembe Thecharftyhascontlnued toundertakÈ wlstr•tlon50foThlmbl reg15tedng 184,986full pedlgwfem4k5durln9thefvllyeoTJ4nuary D¢￿mber292j (2022.. 19&(M81.TheCharfty has establ￿hèd proce55es f¢rlts member&or￿ ofwhlchauthenfjcatss parentsgevSa DNA$amp￿% IheCharfty¢onUnuestsexploretechnologkal ad￿nCeS Inthecolectlon andanaty515 ofgeThet(¢ genomlcand phenotyplcdata and L%woiklry wlthotherlndustylxKlle5 tofurtherlrnprovethe accurdcyof such measurementsTheChartyha5 an on golng proleato monrtorthetstsl mberofteAsunderten toensure accepta￿e(oMPlIance FINANCIAL AEVIEW .fj0kng ThoTwstees havecDn51dered the ongolng financlal vlablllty of the Charftyand theapproprlateness of preparlng the account$ on a golng Concem bas15.wth the p051tlve tradlng resuhs dtllvered, ongoln9 provlslon of servkel posltlvt year end cash balances and banklng supportln plott, theTrustee$3re c¢nfidentthat the Charlty can contlnue tooperate In thefuture. D￿￿¥theft11tye￿rja￿tsaryto DKernber2023,the Charltyundertook 126,166 (2022:11709tllnspe(don5 of Ho15teln and B￿tISh Frfeslan catt whkh %4re•ssesSedM27virylngtra￿1TrÉ rtsults ottheseassessments èty￿shed Inthechatltys Journal anda￿free1yava1kb1ettsVw 0nthecharltlsweb￿te.ThetrIrtseol1t¢ted areatso used forresearth pury>ose5.Thea55essments ireacknovdedged bythe IndU￿ryfor Ind•p•nd•ntus•lnth•valuatkinofinlmal5. R•wvw polky Our reseNes poll<y Is Jetto ensure Ourwo￿lS protected from the skof dlsruptlon at short I￿lIce due to a lackof lunds, whllst atth• same tlmeensuilng we do not retsln Inc?meforlong•rthan req￿Ired. Itls the pollcy otth•Charltyto malntsln unrestrl¢ted funds, whlch 4re fmé r￿•r¥t5 of the Chailty.The purpos? of rnalntslnlng unrestrfrtd fvnds lsto cover.. TheCharity'5 tradlng subsldlirte$4re4ctyvetyln¥oW In dlse45eie5tln9 and Yecord ) nunerofonfarm •v•nts both on anal bè515. Durfngthereportlryj perlod $1gnSficant Investment has 8galn been madetoenhancetheupabllltlesforwklenlng the nLmber and varfetyofte5tsavallabl4and UKAS accredltatlon has beenobtslned fr(anumberofthesetests.TheCh•ityencoura9es.whereverp0554Jle. thelntlusk)nof regular1￿￿and￿ffaTe programsfor￿1jnttortn9 ofthe herd. .admlnlstrion and supportcosts forthe Charlty .dt51gThoted projects to beundertaken when approprlate - 5ufficlent promotlon of Its oblectlvè5 TheGroupS re5erv•sètth•ndof 2023 were £17,368,54812022.. £17,835t,8391.A substantlal prwrtlon of the reserves are held In property and asset50therthèn'mina9￿ cash and Investments,. Thocharltyls commrttedto hostlng evMtsthatshareknowkOJe Ihrowjhout thtdalry Industy. UK DalryDay, Prernler Herd Open D4y, HYB Weekend Rally,TheAilÈreedsAII grf()In C•lfShowandtheHOl￿th)VK CknAtloTh&AGMlnCheshlrewere all well attendedi wovldlng a mlxture ofnetworWry¥nd edu<atlon.ThEGroupa150 ¢tsntlnuedto fad1ltaleo￿1ne ntsln 2023 whlth enabkd u5to¢ontlnueengaglns wfth memb•v$to deeducarknal, neN¥thlng ènd markelng OPP¢rtunrtle Atthe reportlng date, assets itpresented by Net Current Ass•ts wer• £1,237.25612022: £1.424A701, repre5entlng on avérage S 12022.. 71 wèeks runnlThg Costs. Assots whlch could be reasonèb reatlsed w•r• £&498,20712022.. £6.699,3711. ￿PreSentIng 55%12022.. 61861 ofannual runnlng costs.TheTrustees conslder tt prud•ntihèt unrestrleted ie5erve55hould be sufflcleni.. Ihecharftyhas made repre5entatlonsand respondedon a nurnbei ofmatter5 relatlng tothedalrylndustywlthln n¥tbn41 and devofved Go￿rnMentsandQ￿¢IbDdIeS. Informatlon Isaval￿b￿t0t￿￿d0r comnwnltyvlathèChariV5websttewww.holsteln ukotYJ andvla Its trnthng sd)sldlarfeswww.thecisLauk andY•ww.nbdcuk -ts a￿[d the n•ctssityof reauslng fixed as$et$ heldfoT Ch?Iltyl use -to Coveroneyta￿34dmlnl5tr3t1o￿ and $upportC05ts The re5Eives pollcy15 kept under perlodlc revlew and reserves levels wlllbeadlusted as percept(ons of rlsk and otheTfartors chan9e. L fvlnclpal rlsksand unt•rt•lntl The Board have examlned the maloT5trateglc, bu51nessand oper•lion¥l rlsk5 whlch thecharlty fa￿5 and confimi that systems have been establlshed ro enab¢e regular reptsrts to be produced so that rtécéssaryrecommeThdat4ons can be rnadeto reduce thes rlsks. The 8oard alsoconslders non financial ri5k5 arf51ng from fire, ènd health and safety aspects of theemployment oflts 5taff.The finance commlllee regUla￿re￿ewS the r15k reglster, dlscu5sln9 the rlsks factd bythecharltyand the rnltlgating artionstaken to manage these rlsks.The rlskmanagomontapproach Is revlewed annualty by Ihe Board. Fundr41Alnq art1￿1¢1 and lTr¢om• 9•n•r4tlon Holsteln UKdoesnot undertakefvndralslng actly￿e1. ¢. bw•strn•nt pdky•thd p•rfoim4h UndertheMeM￿afftdUMan￿Arllck$ olA550clath)n,the Charky h)svlde poKvsto invest atthediscrdbn of theTNsree%Theinvestment pdlcy tsd￿9ntdto supwthe reserves pollcy.TheCharityseèksto adopt acautbJ4wudentatKlwelldiversffied irwestmentstanceto bahkKe potEn￿al ietumswthapproprlate leve150f r15 Charitysaim i5tt)en5urethat reservE5maintalna iea1va￿eaCloss anlnve5tmentcyde.aose BrothersAssetManagementmanagedthe reserves￿ adIscre￿onary ba515.The portfollowa51nve51ed Ina raryeof 5ecurftle5 In lIne￿¢h leve55agreed byth¢Ch8NIy. Annual Report&Accounts Forthe year ended 31 DecembEr2023

ZIONALE I AZIONALE Ehl-j U N,1 AFI8 SIVA .a! In Y¢un ie4' nJLinlof how, Iti ThÈmiln rlsktotho Chirfty¥flnan¢lal well belny would beCIS cea51ng to glft ald sufficlent profits to enable Holsteln UKtoachl•vo ltscharltableobJ•¢tI￿$.Th11 Is • rl$kwhl¢h Is rèvltwed by the Trustees at the quarterty board meetln9%The servkes delfvered by CIS areion5tantty revlewed wlth new product5developed tomeet haTh9lrvJ need5 and protert market sharnwhère approprlate. Spend wtthln Holsteln UK lsalso undercon5tsnt revlewto ensure maxlmurn ietyrn15 recelvedfgreach pound expende NBf(dld nOt￿CeIVe anyGovunment support In 2023 (2022.. £NIU. ThTru￿￿eS Implemented a prl¢e IncreasefoiTrpeClasslficallon Servke vlsksfrom 1st N¢Mmber 2022 to r+d￿lI•S$$ golng and thefullyear ImpBrtof th1$ d•clsion can been seen In 2023. The Cattle Infomiatlon Servlce Ltd ICISI Con￿r￿e￿i9 contrlbuteto the Ho15teln VK Groupwlth 5UTPtuses of £448,00012022- f1.0805351. Surpluses are nomially glftaSded to thecharlty Inthe subsequent year. howew. no surpluse5wIII be gfftalded for2023 profftsdueto CapltalAllowance$4vollable for rhewequlpment purchased. d. PrlD¢lp•lfvndlThg Theannual acwunls p￿ented ire the wiorton théyearto D•c•mbtr2023. STRUCTVRI GOVERNANCE AND MANAGEMENT TheCharlty¥ prlnclpal fundlng source5 are.. voluntary Income ImembershSA rogI511atlon and classfficifjon Income contilbute malntyttsthlsl. kn￿tMent In¢ome (th￿￿9h propertles held bythe Chailty for rent and return on sha￿5 via dividend51 and profit from ts4din9 sub5i¢Jiafle5whlch yndertakevarfous bctfvltl•s Including healthtestlnN mllk rec￿dIn￿ genomictestln￿typeClasslfiCat1On and other larm even Holrteln UK Ith•"Ch•rltyl Isa Company Ilmlted bY9￿rInteé (not havlng a shore capltall and15 a registertd Charlty. It Is govÈrnÈd by oard ofTrusiee5 (the Boordl.The Board sets slrateglc dlrectlon 4nd énsurestheCharltyachleve5 hs objectives. It over5ee5 govemance nd Is responsible for uphDldlng ihe Charltys valuek It Is supported by fourcomrnlttee5 (FI￿nCe Ilncl. Scotsbrfdge House 54lel, Show & Sale, Sclen<e and Cpèratlon5ltowhlch11 delegatescertaln authtsiitie5.Theday to day runnlNJ ofthe Charity i5theresponsibilSty of the ExetutlveTeank Groupconsolldated Incomefortheyeariotslled £12.089.14512021. £71956,4581. Ona lekn IlkeComparat￿e hsis, Income Is up l.l%. Thebudget set for 2024 wlllenablethe Societytooperatewlthln Ils re50urce5whllst stlll delfverln9 the hlgh qualItyse￿£es membe deseNe. Memb•rs The Charity's constitutlon allow5 forthe appolntsnentof members nd ha5 M restrfctlon on memirnurnberkThey areentitledto attend allgeneral meetings induding theAGM.where they recelve theAnnual Rep)rtand acrounts and ekctor re-elertTw#oe& Naiional BO￿ne DataCÈntrt Ltdwa5 SetUpar￿ began tTadlng In 2017. In 2023 a1055 of£24540 was recorded1£141A081055 in 2022). Athhu•I keport&Ac£ounts F0rt￿yearend￿d 31 Decernber2023

Regularcontact15 maintalned wkh member5, malnly thmughthe b monthly magazlne Thejournal. d.P•lcle8adopt•d knth• Inductlohindtralnlng olTNst••s TheTwstees offer a wide range of skills and experfence es5entlal tothegoodgovemènceof thecharlty. NiwTrustees undergoan orlentstlort dayto brlefthem on their ￿gaI obligatiun5 vndttCha￿ty and Companylaw.Ihecontentof the Memcrandum and Articles of Associauon, the commlttee5 and decislon making pwoce$4the buslness plan and iecentfinancial performance ofthe Chartty. Durfn9 the InducUon d3y,Trusrees meet key employees ofthe cha￿ty. Trurtees are encouraged to attend approprlaté external tralnlng events where the5ewlll facllliate thè performanceof thelr role. Pypollrylwk•y m•nagom•ht p•rwnn•l Key management staff do not have annual salary wlews, however, annual costof Ilvln9 pay Increases are givtn to key management staff at the 50rne Inflatlonaryrate asforall other $taff.The salarlesawarded to new keymanag•mnt staff are benchmaTked a9alnst the marketio tnsvrè approprlatelyqualffied staff are attran 10081 5 P5rle 100%, P rlth m•n•9•m•nt TheTTU5tee5 have as$e$5ed the malor rl$ks t¢ whlch the group ind the charlty a¢eexp05ed, In paitlcularth05e related to theopewatloTrs and Ei Prlor OM 5male IOO%, R Thoma$ fj6.7%, MWlnterSO%.JWhlttaker 83.3%,WWllllaffj5 IOOA Wlllamson 100% and B Yate5 100%.The amountolexp•nses ielmbursed toTru5tees durlng the r•poitlng pthod was £20,81512022.. £16,511]. ffinance5 ofthe Gioup and the Charlty. and are sètlsfied t￿t 5y5terns and proctdurts are In placeto mltlgate exposvretothe major rlsks. Plth6hrfv¢yY• p•rlodi The Chailty wlll contlnue to PTomote and encourage the breedlrwj of Ho15teln and Bdtlsh FTleslan cattlewlthln the UK d•lry herd.Where ¥pproprtat•. Ilnkswlth other Industry bod1è5 wlll contlmue to achleve thecharltys oblectlve5.Centrallslng Informatlon and dataforth• beneficlal Improv•m•nt ofthè dalry bTe¢ds and the promotlon of hoiiMlcmanigem¢rt tystems ferd?Iry¢Bttle wlll b• a key obhctlve. Tht expanslon of health and weWarete5¢1ng w￿h￿￿th¢uKaDd ttsllertlon olon farrn data for research purposes to Improvèthe Charfl￿5 5ervlces to tts members remalns a keyfeature of theTiurtees' plans. Commltt• AIITnJstees Se￿On at lèast one commlttee.The commrttees are delegated spwlfic re$ponslbllltles bytheTruste•$.Thy provlde <ounsl, éxpertlse and sUPPOrt to tht ExetutlveTeam Cornmltte•5 undertakean ￿lts￿l0n of thelr own performance OD a pellodl basls artd us anyfeedbackto support Improvements In th• overil governan¢eof the Charlty, Ex•tutlv•T•Jm The Exe(utlveTeJm1s respon51ble forthe dayto day runnlng of thecharftyunderauthorftydelegated bytho Board. It proposes tothe Board Whe￿ the Charlty should Invest Its tlme, moneyand experfjse. It Mvkws wlth the Board any changesto strategyon an annual basls. It propose5 an annual operatlng budget to thefinance £ommltteeand the Board for approval •nd monltors fi￿n(la1 performance accordIng￿. It re<omrnends anychan9es to budgèt In Ilghtof perfomiance to date.The Exe<utivefeam comprises of the followlng keyemp10yees.. Chlef Exécutlve OfficÈr, Head of Flnanc He•dof Ev4nt$ & Marketlng Head of ff.and Head of N8DC & 8re•d Development, and forC15, Head of ￿eld Servlces •nd Head of LaboratoryOperatloTr5.. The Charltywlll undertake research Into futuretvends In dalrycattle breedIr￿ and management and wlll dlssernlnaté these iesult5 to membersand thewlder Indu5try.The Charlty wlll maintaln Its posklon i$thepre*mlnent source of Independent daliycottle breÈdln9 Inlormatlon In Europe. The Charltyls very awa￿ olthe Issuesfaclng the dèlry Industryand the need to develop the next 9eneratlon of pedlgreefarmers.fulty equlppod to bt suttessful In a rapldly changlng Industry.The Charfty wlll contlnuetolnvest In Ho15teln Young Broeder5Khemelo ensuiethatfvture ddlryfarrner5wIII continue to enloy5uccess. knhual Rewt&Arwwbts Fortheyear ended 31 De(embei2023

AttheAGM In June 2018, t￿charIty1a￿￿ched Its2018-2023 Strategy %thich Inco￿orated feedbayees have been con5ulied on Issues of coThcerniothem by mean5 ofregutsrc0Dsuhat￿e£OMfft￿￿It and staff meetlng5 and have been kepi Informed on specffic matters dlrectlyby manogemenL The Groupand thecharlly carrle5 ¢)ut exltlnter¥lew5forall staff leavlng theorgan15atlon and has adopted a procedure of upwardfeedba¢k for senlor managementand theTru5tees. DISCLOSURE OF INFORMATION TO AUDITORS Each ofthe personswhoareTw5tees atlheilme when thlsTwsteE RepDrt Is approved hasconfirmedthat -sofara5thatTru5tee15awar¢there15 ￿ relevant8udrt Infomiatlon of whlch thecha¥ltable Groups audltors ait unaware. and TheGroup ènd theChaTlty ha5 Implemented a numberofdetslled pollcles In relatlonto all aspectsof personnej mitters1ncl￿JIng. - thatTrustee ha5tsken allthestepsihat ought to have b•tn taken as èTrustee In orderto be awareof any re1evinthud￿lnfoImèt￿t)￿ and to establshthatthe charltsble9ioupS lud￿are awaftofthat Informatlon. -Equal opp)rtunltles policy -Volunleers'pollcy AUDITORS -He41th & safety polky The audltors,WR Paitners. have Indkat•d th•liwllllngness to contlnueln office.Thede519nèt•dTrustee5 wlll propos• i mofjon reappolntlThg th• audltors èta mtrung of th•Trusteès. In a<cwdance wlth theGroupand the Chrlty'5 equglopportunhles poky, theGroup and the Chathy ha$ long est•b1lshdl￿w empbymeni wacuces In th• m(￿ltMen¢ selectlon, retentlon and tralnkng of dlsabled staff. Approved bY0rd￿ ofthe membwsof th• bo•rf ofTrusleeJ and 51gned onthetr behairty: Full detslls of thesepollcles are bvaltsbl•from thechorlty's office St•t•m•nt ofTrurt••s'r•4WbslbMItI TheTiustees (who are a150 the dlrectois of thecharltyforthe rptsses of cornpany lawl are responslble ftr preparlng theTrustee Report lThdudln9theStrate9lc Rtport Irid thèfiThanclal statements lThaccordan¢è w5th appllcable law and Unlted Kln9dom Ac¢ountlng Standards Ivnlted Kln9dom GenwallyA£cepted kcountlng Pradkel. Company lawrequlrestheTruM••s topryréfinanclal statements foreach financlal peilod. Under company tsw, theTruslee5 must not approve thefinancla15taiernents unless they a￿ 54t15fiedthatihey glvea tweandfaIr￿eW of the stsieof affalrs oftheGroupandthe Chartty and of thèlr Incomlng resources and applkatlon of re50ur£e4 IrKludln9 thelr Income and expendItu￿.kn thatperh)d. In prePa￿ng Ihese finanelal statement5, theTru5tees are requlred t Wth￿ Gre Walla¢e Gre99 ICh•lmunl D•l*09 M•y2024 -selectsuRableaccouThtlng polkles and then apply them con51stentlyi -observethe method5and wlnclples ofthe Chailll•s SORP IFRS 102),. -make Judgrnentsand 1￿coUn￿Trg estlmatssth1ta￿ reasonableand prudent,. -5tate whether oppllcable UKAccountlng Stsndards IFRS 1021 been followed, subject toany matÈrial departure5 d15ckssedand explalned In thefinanclal 5talement -preparethefinanclal 5tatemeThts onthe gojng uncern basls unless it Is Inappmprfateto P￿￿meth￿t1heG￿UpW1I conllnue In buslness. knhual Report&AcfouThtsFortheyearended 31 Decembw 2023

REPORT OF THE INDEPENDENT AUDITOR TOTHE MEMBERS OF HOLSTEIN UK OPINION Based on theworkwe have performèd, we have not Identthed any materfaluncertalniies le1￿1ng to events or tonditions that, Indlvldualty orcollettively, may tast 51gnificant doubt on theGroup% orthe paent charltable companys abllhy to tonllnue as a 9oSng corKern fora perlod gf at 1easttWe￿e monthsfrom wh•nthe financlal$iatement5 arn authorlsed ft)r155ue. We have audlted the financlal staternents of Hol$telTh UK Iihe t)arent chaTltable Compan￿ and its subsidiaries Ithe'9roupJ ftilhe yearended 31 December2023 whlch cornprlse the Con501idated Statement of FtThanclal Activitle5, th¢CgnsolldJted BJlance Sheel the CharftyBalance SheeLihe Consolldated Statementof Cash Flows andthe related note& Includlng a 5ummaryof $1gnlfiiant arcountln9 polfjcles.The financlal repor￿ng frameworkthathas been appw In thelrpreparatloTh15 appllcable lawand Unlted Kln9dom Accountlng Standards. Indtsdlng Flnanclal RepDrtlng 5tsndaTd 102The Flnanclol Reportlng Standaid appllcable In the UK ?nd Republlc of Ireland, Iunlted Kln9dom GeneraltyAcc•pt•d Accountlng Pr￿tke1. Our ￿sPonSIbl￿tIeS ondthe respon$lbllltlés of theTru5tees wilh re5pectiogolng concein are déscrlbed In the relevant $￿tIOnS of thts report. OTHER INFORMATION Theother Infomiatlon comprlsesthe Informatlon Included Inthe Annual Report otherthan the financlal statements and ourAudlt•rs' Report thereon.TheTrustee5 are rosponslble forthe other Informatlon contslned wlthln the Annual Report. Our oplnlon onthefinanclal srètements doe5 not coverthe other Informatlon and. except tothe extent oihetwlse expllcltly stated In our r•port, we do not exwess any forrn ola55ur3nce conduslon theieon. Our responslbiijiylsio Mad theother Inform•t+on and, In dolng 30, c¢nsldoTwhetherthe other Inforrnatlon Is mateilally Inconslsttntwlth the financlal stotements or our knowledge obtalned In the course of the audlt. oroth•rwlse appears to be materlally mlsstaled. sf we Identffysuch materlal Inion515teKle50r oppaient rnaterfil mlsstatements, we ale requlr•d to dettmilne whether thl$9lves rlsé to a rnaterlal mlsststement In Ihefinanclal rtatements theMSe￿e$.11, based on the work we have performed, weconclude thatthere15 a materlil mSsstatementolth15 otherlnfomiatioTh we are Tequlred to reportthltfact. In ouroplnlon the financlal statements.. - olve a true and falrvlewofthe state olthe Group¥and of the parent thBrltable cornpanyl affalrs as at 31 December 2023 èndofthe GrtyJp% Incomin9 resourte5 and appllcatlon of resouices, Includln9 Its lTrcom¢ and expendlture for the yearth•n •nd•d,. - have been properly prepared In iccordincewlth Ufihed Klngdom G•nèrallyAccepted Accountlng Practlce,. an - have been prepared In4(￿rdance wlth the requ5rem•nts of th• C+)rnp•nlesAct 200& BASIS FOR OPINION We ¢onducted ouraudlt In accoTdancewlth Internotlonal Stondaids on Audltlng (UK) IISAs IUKII and appllcable law.our iesponslbllltles underthose standard$ arefurthti de5CTlbed IntheAudltors' iespoThslbllltles forthe audlt of thefinon¢lJl Statements $edion Olour report.Weare Independent ofihé Group In accordance wlth the ethkal requlrements that are relevant to oui audlt oftht fiMnclal statements ln the Unlted Klngdom. Includlng the Flnanclal RePor￿n9 CouTrdl'5 Ethlul Standard and w• hive fUlfil￿d our othèr eth￿1 v$ptsnsiblllti•s In •ccordinct wlth these requlrements.we bellevethat the audlt evSden¢e we have obtalred Is suffichntand approprlateto provlde o ba515 forouroplnion. We have nothln9 10 report In th15 re9ard. OPINION ON OTHER MATTER5 PRESCRIBED ￿THE COMPANIES ACT 2000 In ouroplnlorn bas•d on th• work undertak•n Inth• couwse ofthe audlt.. - the Informatlon glven In theTrustsÈ5'Report Includlnglhe Strnttylc Report forthe financlal yearlor whlch the finoncla15tatements are prépared15 con515tent wlth the financlal statements. CONCLUSIONS RELATING TO GOING CONCERN udlllng thefinanclal $tatement5, we have conc￿ded that theTrustees'u5e ofthe golng concern bas1$ of accounting in th• preporatlon of thefinanclal $tatèmtnts Is appropibate. - theTru5tee5'Reportand the Strateglc Report havebeen prepared In a(￿ldanCeWlth appllcable legal requlrements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the ￿ght010￿ knowledge and understsndln9 Cflhetharitsble company and Itsenvlionment L¥btèlned in the coursèoftheaud we havenot Identlfied rnaterlal mlsstitèménts In theTNstees'Report Indudlng the Strateglc Report. Ahhual Report &Ac<ounts Fortheyear ended 31 DecernbEr2021

We have nothlngto report In respett ofthe following nwtters In rdation lo which Companies Art2006 requires u5to reporttoyou if, ouyoplnlon.. -Wealso a55e$5ed theCharity5 internal control procedurestoensure we could appropriatelyscrutlnlsèthe5e controls and estsbllsh whetherourunderstandlng of the ¢ontr¢l envlronment was sufficleni tosupplement our addriional testlng piocdures. -the parentcharitiblecompany has notkept adequoteand sufficient accountlng re(ords. or returns adequateforour audlt have not been received from braThche5 notvisited by us.. or -Theengagernentteam con515ted of a team thatthe engagement partTherbelleves Is equipped wlth the relevant level Oft￿hnical3nd Chartyawarene55 to carryout ourworkto the requlrnd 5tsndard. -the parentcharltablecornpanyfinanclal $tstements are not In 19reementwfththeaccountln9 rocords ond Mtum5; or Afurtherde5criptlon ofoui responslbllltle5fgrthe audlt ofthe financlol ststements Is located on the Flnanclal Reportln9Councll web51te aL' www.frcory.uklaudltorsresponslbllltle5.Th15 de5crfptlon fomispartof our Audltors'Report. -lng the golng c?n￿rn ba515 gfaccgunllng urless iheTiu5tees eltherlntend to Ilquldatethe Grouporthe wrent <hariiabl• companyorto cease operatlons, or have no reallsllc altematlve but to do $0, Andiew Malpas WR Partners Chartered Accountants and 5tstutoryAudltoys Belmont House Shrew5twrygu51n•55 Pjrk Shr•wsbury Shropshlre SY2 6LG Date: 15enlor Statutory Audltorl fow and on behaifof AUDITORS'RE5PONSIB1L￿1Es FOR THEAUDITOFTNE FINANCIAL STATEMENTS Ouw oblectlves areto obtaln red50nable455uranco about whether the financlal 5tstsments a5 a whole are free from rniterlol mlsstaiem•n¢ whèthordueto fraud or error, Ind to Issue an Audltor<Report th)t Includes ouroplnlon. Reasonable assuran<e Is a hl9h thl ola55Uran￿, but15 not 4 guarantee thatjn audlt Condurted In ac<ord•ncé wlth ISA5 IUKI wlll always detect a rnaterlalmi55tatem•nt when It exlst5.M155tatements can arlse from frau4 orewror and ale cgn$ldeied materlal If. Indlvldually or In the oggregate, theycouid reasonabty beexpectedto Influence the economlc declslons of users tiken on thebasls of thesefinanclal $tstements. re9uI)rltles,In(ludlrtg lrnud are In5tantes of non-CDmpllance whh law5 and regulations.we design procedure5 In Ilne wlthour respoThslbllltle4OUtllned above, to detect materlal mbsstatement$ In respectof Itreyularftles Includlng fraud.The extenl towhlch OUT procedure$ 8re cap8bleof dewrlng IrTegul4rttlek lThcludlngfraud1s detallod below.. - We revlewed the su5ceptlbllltyof the Charltysthnanclalstatements to matsrlal ml$si•tementand Identified the prlnclpal risk% Implementlng a serles oftesfjng protedures to pmldÈ us wlth sufficlent comfort to Issue our opinion. -we rewlewed the Chadtys re9ulatory environm•ntto n511r w• could conclude that It had acted In accordance wlththefRmework I?￿Vant to thechadty and Its envlronment and identifyany in5tance5 of non-compliance. Reporta Accounts Fortheyearended 31 DecemJxr2023

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (incorporating income and expenditure account) FOR THEYEAR ENDED 31 DECEMBER 2023 UnMstrl¢t•d fvnd¥ 202J Tot•1 lund• 3033 Total 2022 Not• INLOM Donatlon5 26,919 26,919 2¢103 Chatftable actlvktles 2.944,122 2,944,122 1851130 Othertradlngactlvltle5 8,977.970 8,977,970 &94U32 Imiestments 140,134 140,134 135J93 Ttytsl Inom• 12,069,145 11019.145 EXPÉNOITUAE ON. Ra151ng fund5 8.558,510 8,551510 7,797,755 Charftable actlvltle5 3,400,365 3.400.36S 3,78¢890 T￿•1 •xp•ndlwM 11.95&875 11.951.875 14984645 Net11055esl19alns on Investments 86,439 88A39 1179.688) N•t In￿m• lJ•loM 21&709 218,709 Taxatlon 141379) N•tmov•m•ni INf￿d$b•I￿r•olh•r M08.347 I7￿3*•31 TheConsolld)ted Statement of Fln8nclal Actlvmes In¢￿deS 411 galnsand losses re(09nlsed In theyeai. 7henoies on page5 24to 38 form part ofthese hnanclalstatement5. Annu41 R•port&A¢wunts Forthe yearended 31 December2023

CONSOLIDATED BALANCE SHEET AS AT31 DECEMBER 2023 2022 Not• Intanglbleass¢t5 14 40,029 Tanglbleassets 1$ 12,132,818 12,379.3091 Investments 17 1,758843 1,642,152 Investmentpropety 16 23￿,000 2,325.000 1&131.290 CiJANÈi4 I ASSETS Stocks 19 252,e60 107.382 D•btors 20 1,642,937 1.753.138 Cash at l>ankarKI In hand 643,961 877.699 1519.764 Crethtors.-Imounts fallln9 duewiihln oneyear 21 11.3025061 11,307,749) N*tcyn•nt •M¢tr 1.2372SJ 1,424,47Q 17JO8J4B 17,839,839 Rellrlctedfunds 22 Unre5tr1rtedfunds 17,368,548 17,839A39 T•t4lfvnds I7.3￿540 17.839AJ9 TheTru5tee5acknowledgethelr resp0nslbfjlltlesfor¢or￿ty1ng wlththe requlrernentsofthe Act wlth resptttoaccountlng ￿01d$and preparatlon of financlal Statements. Thefinanclal ststernent5 were •pprov•dandauthorls•d for Issue bytheTrusteesand slgned on thelr behawty. W•llK• Gr•gp(Chalrni￿} D•t•:09 May 2024 Thenotes on pages 24to 38form part ofthèsefinanclal 5tstements. Rwrt&A(<OUhtsForthe yearended 31 Decembw 2023

CHARITY BALANCE SHEET AS AT31 DECEMBER2023 As restaied 2022 2025 Intanglble a55et5 14 14,029 Tanglbka5S<ts 15 10.273,209 10,674647 Investments 17 1524A28 2,404137 Investment propetty 16 2,200,tKKI 2,325,000 15.01IM6 I ASSETS Debtors 20 IA17,818 2285,166 Cash at bankand In hand 8,367 329,87S 1h20,2JJ 2014041 Credltors.. )mounts folllThg duewlthlnoneyejr 21 1417,1701 (1.1OZ2513 curMnt•is•ts 1.009.005 1,431790 14020,731 14911,U2 ('blAHITY FUNOS Restrlcted funds 22 UnTe5trfcted funds 16,020,731 14911,482 Totslfuffi& 1fj020.7JI 14gIIM3 TheTrustees 4cknry4ledgethelrresponslbllRlesforcomptylngvAth the Tequlrem¢nts of tht Act wlth resperttoaccountlng records and preparatlon olfinanclal statements. Thefinandal statements were approved and authorlsed for155uebytheTTUSlees )nd $19ned on thelr beh•Wby.' Wkn£ Gre Wolht• Gr•pg IChalrni•nl D•t•:09 Mèy 2024 Thenotes on pages 24 to38form p4rtof these financl•l statements. Annual R•port &Auounts Fortheyearended 31 December2021

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THEYEAR ENDED 31 DECEMBER2023 2023 2022 Not• CAS11 fLOWS NetC45h used In operitlng a¢tlvSrles 24 279,051 767,513 Lmvldends, Intere5t5 and rents from Investmènts 140.134 135,393 Proceed5 from the Sale oflang1b￿ fixed asset5 45,000 Purthase of Intinglblefixecl •ssèts 12¢CW) Pur<hase of tan9lblefixed asset$ 1579,7041 11349,0911 Dlspoml of Investments 217,843 154390 Purthase of Investment5 1264M621 (185A)31) N•tush lumd Inllpp•vld•d by Ib)¥￿tIng Klfvlil 7891 11197.JJg) Chan9eln cash Ind <45h equlvilents Inth• y•ar 1227,7381 (1.429,0201 Cash and cash equlvalents atthe beglnnlng ofthe 871,699 2,301.52$ Calh Ind •qylv•l•nts al th••nd olth•y•4r 25 643,961 877.099 The note5 on pages 24to 38form parl olthe5efin•nclal 5tst•menis Annual Report&Att¢untsForthe yearended 31 De£ernber2023

NOTESTO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2023 I. GENERAL INFORMATION The ConsolldatedStatemen¢ of FlnanclalActlvltles (SCfAI aTr Con501dited Bolanct Sheet consolldate thefinanclal ststements of thecharlty and btssubsldlary undertaklngThe r•su115 of the subsldlaryare consolklated on a Ilne by Ilne basl Hotsteln UK lsathathble¢ompJny Ilmlt•d byguaranteeand Is Incorporated Inthe Unlt•d Klngdom.The reglsteredoffice and operatlng addre5515 SCo￿NOu¥ Fh)rtonwood 33,Teltsd Shrop$hlr• TFI 7EK In theeventoftheChaAty belngwound Ilabllty In respettofthe guarnntte Is Ilmlted to £1 permemberof tho Charlty. The Charfty hastsk•nacfvantage Dfthe exernptton ¥lltyw•d under sectlon 408 of the Cornpanle5Ac¢ 21x16 )nd ha3 notpresenled Its own StatementDf FlnarKlal Actlvltles Inthesehnanclal Staternen￿The [￿t movemeni Infvndsforthecharltywas adeficltof £89YJ.751 (2022.. sU￿1￿S of £99I9691. 2. ACCOUNTING POLICIES 11 kn%lAolpp•p•r•llon of finn¢l•l it•t•m•nts The financlal statemeftts have bEen prepared In acc?rd4nce wlth th• 5e(ond edltlon Charltles X)AP IFRS 1021- Ac(+)unllng aThd Reportlng tychirlfjes.. Statemeni of Récommended Practlce appllcableto charltlès prepailng thelra<counts In a<cordanctwlth the Flnancl?I Reportlng Stand4id appllcableln the UKand Repybllcof lrnllnd (FR5 102) leffecrive l )&nuiry 20191, FlnaK5al Reportlng Standard app11￿￿•1In the UKaThd Republlcollieland IFRS 1021 andthe Ccrfnpanles Act 2￿6. 2.3 fJOln9con￿n After maklng enqulres, theTrustées have a reasonableexpectatlon thatthe Group has ad•quatè resourcesto contlnue In operatton•l xlstencefortheforeseeablefuture.The Group ￿￿rforeconIITrUeS 10 adoptthe golng conctrn ba515 In pr•parlng ltsfin4ndal 51at•m•nts 2.4 kn¢•m• AN lThtomè Is itctynlsed oncetheCharftyh45 entltlement to the Inwme, It Is probablethatthe Incorne￿Il be rocelved and the arnount of IncomerKelv•blec•n bèmeawred reliably. GrantsareInClud￿ In theconsolldated Statementof Flnanclal Actwles on a recelvableba515.The tsalan<•of Income recelved I Holsteln UKmed$ thedefinltlon of a publ1£ benefitentlty under FRS IOIAsMts ind Ilabllltles are Inltlaly recognlsed èt hl$torlcalc05tor Èl transèctlon value unless otherw15e ststed In the reknntaCcoun￿n9 pollcy. spe(Ific PUiPDse5 but notexpended durlThg theperlod155howTh In the relevantfvnds on ih•ealance Sheet.there Income Is recelved In advance of Èntltlernent of recelp( Its recognltlonls deferred and Induded In credltors as deferred lnc0me.wThe￿ent1t7eMeAto¢CUIs before Incorne15 recelved,the Income Is accrued. Theconsolldited Statement of Flnanclal ktlvltles ISOFAI and Consolldated Balan￿ Sheet consolldatethefin3n£lal ststements of the Charlty and115 5ubsldlary undertaklng.Ther*sulrs of the substdl•ry èr•consolldatéd ¢)n a Ilneby Ilne ba51% Intome taK iecoverable In relat5on todonatlons welved under rlft Ald oideeds ofcovenant15 recognised at the tlme ofthe don•th)n. Thecharlty ha5 taken advantage of the exemptlon èllowed und•r 5ertlon408of Ihe Comp8nle5 Art2006and has ntst presented hs ovm Statem•ntof Flnandal Actlvltl•s In thesefiThèncSal statements. Incomeiax Mciwerablt In relatSonto Investment Income Is recognlsed at thetlme the l￿eStrnenl IrKome Is recelvable. IX BulJ•f ¢onwlld•tlon Theconsolldated financlal 5taternents pie5enlthe results of the companyand IV5 own subshllarles I'Thefjrourf> is Iftheyfomi a $lngle entlty. Inter<oMpanyiran54Ctlons and balances betweerbfjroup companlesarethereforeellmlnated In fulL 15 Exp¢ndllyr• Expendlture Is reco9nlsed oThrethere Is a le941 t¥ron5tsurtlve obllgatlon totran5fereconomlcbenefitto a thlrd pty, ft Is probable thatatransferof economlc benefitswlll be requlred In 5ettlementand the amount of the obllgatlon ran tse meosuTed rellabty. ExpEndlture 15classlfied by ocllvlty.The ¢ostsof each acllvlty aremade up of thei￿al otdlrect costs and shared cost5, Includlng 5UPPOrtcosts Invofved In undertakSn9 Èa<h actlvity- Dlrertcosts athibutableto a slngle artivityare allocated directtyttsthat actlvlty. Shared costs whlch cothbuteto morethan one actlvltyand supportcosts whkh are not atttlbutsbleto J51ngleKtl¥￿è1e apporfjoned ￿tween those actfvitles on a bas1sconslstentvAth the useof ￿$0￿r￿Central Thecon5011dated financlal statements IncO￿rItethe r•sults of buslness combIna￿on$ uslngthe Pu￿￿se method. In the Balance Sheet,theacqulrees Identifiableasset¥ Ilablltie5 and contingent Ilabllltles a￿ Inltlally recogn15ed at thelrfalrvalLtes attheacqulsltlon date.The resultsofacqulred operatTronsare Included in the Consolldated Statsmtht of Comprehensive Incomefrom the date on which £ontrol Is obtsined.They are deconsoldated frm) the datt control ceases. AThTrual Rep•rt&A¢¢oUnts For theyear ended 31 December2023

5tsff ctssts are allocated on the basls of tlme spent and dÈpreclatlon thar9e5 allocated on the portlon ofthe asset5 Use. Amorttsatkjn Is provlded on Intanglble agset$ &t r&te5 calculated towrtteoff the cost ofeach asset on a stralght-jlne ba$ls over Its exptcted u$eful11 Expend￿lU￿￿ <hth¢dble adI￿treS Is Intuired on dlrert undertaklng the artlvltles which furtherthe Grou￿50b)e(tfve4 a5 wela5 anyas50clated support£05t5. Amort15ation is provided on the following basls.. Developmentexpenditur¢.2 All expenditure 15 inclu51ve of IrrecoverableVAT. Zl1 Tanglblafix•d asJ•ts ind d•préclatlon Tan9lblefixed assÈts costlng £500 OT more are rapha115ed and reco9nlsed whenfuture ￿onOmIC benefits are prebobleandthe c05t orvalueof the a55etc4n be measured Mllèbly. 2.6 R•seai<h and d•v•lopm•nt DevelopmentCQ5ts are capltallsed wtthln Intan9lbk assets where theycan beldentlfitdwlth b speclfic pr¢xJuct or piolffi antIcIp￿ed to pwduce futuiebenefits, and are amortlsed on the stralght Ilne bas15 overthe antldpated Ilfe of the benefit$ ar151ng from theiompkte<l product orprolect Tan9lble fixed assets are Inltlally recogn15ed at C05t.Aftei wecognltlon. underthe revaluatlon model,tsnglble fixed 45sets whosefalr value can bemeasured rellably shall be tarrltd ati Mialued amount, beln9 thelrfali valueatthedate of revaluatlon less any subsequent accurnulated depredatl¢N and subsequent aCCUrnLlated Impalrment losses. Deferred rewrth development ¢osis are revlewed annually.and wherefuture benefit5 are deerned to have ce35ed ortobe In doubt the balantltutlonwlth whom th•lundsar• d•posft•d. Falr values are determlned from market-based evldence by4ppra15al that15 norrn4lly undertaken by profe551onalty qualIfied￿lU•r$. If there 1$ Tho m)rket-bp5ed evlden<• oftslrv•lu• b•c•use of the $pèdalistd naturé of th•tanglble fixed asset and It Is r4Telyso14 except as part L)f a contrfbutlng bu51ness, a Charlty m4y need to estlmatsfalr¥alu uslng in Intome or depreclated repla¢ment tost apprth<h. 2AFoTolgnafftn¢l Plonetary asset5 and Ilabllltlès dtnomlnated In fomlgn curréntl•s are translated +ntO 5tertlng ot rDte5 of exchangE rullng atihe reportin9 dat¢ Trnn$actlons In forelgn currencles aretranslated Int05teillng atihe raterullng Dn thedate ofthetransa¢tlDn. Galns and1055e5 Qn revaluotlon are recogn15ed Inthe Consolldated ststement of Flnanclal Actlvhlei wlth a separate revaluatlon reserve befjng shown In the Statement of fund5 nete. Exchangé9iln$ ind losses are reco9nlsed In the Coniolldated ststement of Flnanclal Actlvltles. Investment property Is m￿sured InltlallyatC05t. For subwu•nt rne45urement the Charlty accepts the faly valuo model and Investment property Is remeasured atthe end of each reportl perlod. Changes In falrvaluÈ are recogn15ed In the Flnanthl Actlvhlek 2.9T•xatlon Thechèrlty li ¢￿s{￿ered to pass ihe tests set out In Paiagr3ph I 5th￿u￿ 6 of the Flnance Act 2010 and themfore It m•etsth• definltlon of a charltable company for UK corporatlontax puwptsseL Accordlngly. theCharky15 Potentlallyexernpt from taxatlon In resptd of Incornof capltal gJln$ r•celved wlthln cate9orlescovere(I by Chapter 3 Part I l of the CorporallonTax Act 2010 orsectlon 256 of theTaxation of Chèryeabie Galns kt 1992. tothe extent that such Ir￿n•orgaInsare applled exclu51vely to chilbtsble purp05e5. Depreclatlon15 charged 50 as to allocatethe co$tof tanglbléfixd assets Itssthdr reswual vilu• overthelrè5tlmattd usefvl Ilve5, usln9 I the stral9ht-Ilnemethod. Depredprlon1swo￿ded on the follawlng ba5U'. . Fieehold property-not depTeclated LIO Int•nilbl• iii•ti •nd•m•rilsiilon Intanglble assetsof a capltal nature4re £apltalised and rtto9nis•d when future economic benefits are probable andthe cost orvalue of th•assetcan be measured Tellably. -Mgtor vehlcles- 2 to 3 years -office equlpment- 2to IQ yelrs -Computerequlpment- 2 to 5years Intangible assetsare Initially Ttcognlstd at cost. Aftér réttgnbtlon, Lmderthecost model, Intanglbte asset$ are measvyed at cost kss any accumulated amortlsatlon and ary accumulated Impalrment1055es. - Promotlonalequlpment- notdepre¢lated Z12 1Th￿Stm•￿ts xed asset investments are a form of finan¢lal Instrumentand are Inltlalty recogn15ed at thelrtransactlon cost and subsequent measured atfalrvalue èt the Balance Sheet date, unless the valu cannotbe measured rellablyln whlch case It Is mÈasuved at ¢0 less Impairment. Investment gain5 ond1055es. whelhei reallsed or unreallsed, are£omblned and presented as'Gains/lix)55e51 on investment5. in the Consolidated Slalement of Financlal Actfvltle& Ateach ￿OrtIng datethe charity a5Sè$5ts wh•thèrther Is any Indcatlon of Impalmient. If5uch Inditatltrn ex55t4the iecoverèble amouThtofthe355el15 determlned to be the hlgher ol11slali value le55 ro45 tostll and its valu• In use. An Impalrment Ioss Is recogntsed wherethecarWng amount eKeeds th• wcov•rable amounL Annual R•port&Ar<ounts Forthe yearended 31 December2023

Investments In subsldlarles aievalued at cost k$s provlslon for impairmenL From Aprll 2015, underthe Pen51ons Act2008,theGroup must put rtaln staff Into a pen$lon scheme and tontrlbutei¢)waTds ItThis Is called automatlt ènrolment.To comply wlth automatit enrolment laws, theGroup signed a participatlon agreementwitha penslon provtder bywhkh staff becorne member5 On Independent dmlnistered pen5¢0n plan.The Group and staff makecontrlbutloThs asspeclfied th the plan. 113Slocks Stocksare V￿Ued atthÈ ltswerof cost ènd net realisablevalueafter making due allowancefor obsoleteand 51ow-rnovln9 5toth5. Cosi Intlude$811 dlre(tC05tsand an appropfiate pioportlon olfixed and ableoverheads. 2.141)•btors Atth• rtportlnydate contrlbutlons out5tandlng amounted to£NII 12022.. £NID. Trade8nd1)th￿ debtf)ts a￿ recognised at the 5ettlernent amount afteranytrade dlscount offered. Prepayments arevalued ètthe amountprepald netof anytrade dlscounts due. 3JQFvnd a¢￿￿￿11￿9 Generalfvnds are uniestrlcted funds whlch areavallableloru5eat the d15cretlon of theTru5tees In furtherance of the genernl oblectyves of theGroup and which have not been deslgnated forother purposes. Investment Inc)mé, galns ind10sses are allo¢ated to unrestrkted funds 2.15 C•sh •t b•nk•thd Ih hind Cash at bankand In hand Includes cash and short4erm hbghty Ilquld Investments wlth a short maturlty of three month5 or less from the date ofa¢qu151tlon orupenlng cf the dep051tor s1m1hra￿OuTht. 2.11 U•bllltl••nd provlilon• Uabllltlesare recogn15ed when th•r• Is an obllgatlom atthe Balance Sheetdate as a tesuli of i pJstevent, h Is probable that3transler of Ètonomlc benefit wlll b¢ requlr¢d In settlement, and the amount of the settlementcan beestlm•t•d r•llably. 3.CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGMENT E5tlmates and ludgmefit5 Ire <ontlnu•l1y•valuat￿ and are based on hlitorfcal ey)erlen¢• ind other lortors, Includlng expectatl¢)ni of futureeventsthatare belleved tv b• r•asonable underthe clr<umst4nce5. L1èbllltl￿ar rtto9n1S￿ at the amount that the Charlty anllclpates It fjll pay to settle the debt orthe amount K has recelved a5 advanced payrnent5for the goods or5ervlces It must provlde. Prov151on5 oremea5vred atthe best e5tlmats of the amount5 requlred to setile the oblgatlon, Where the effect of thetlme ¥a￿e01 money Is mBterlal, the prov151on15 based on the p￿sentYaI￿e of those amounts.dlscounted at the pre-tixdlscount rate that ieflect5 the r15k5 5peclfi£ tothe Ilablllty.The unwlndlng of thed15courit15 IKO9nlsed In theC)nsglldated St)tement of Fln•nclal Actlvltlls as afinancècosL crtd¢•l •ttOUhllng •rtlrnatsi•nd •Mumptlvns: ThE Charltyrnake5estlmate5 and 45sumpiions coftternlngthe future.The resulrin9 accouniln9 •Stlmates and assumptlon5 wlll by d•finltloN s•ldom •qual the Telated actual re5ultk Flxed a55ei propertles are Included at valuailon. Formal revalLtlons lorall propertle5 except Scotsbrfdgt House took place Inthe yeaT. Scot8brld9• Hovs• Is Intluded alTruste¥s valuatltsn, Informed bythe negotlatlons In relatlon to It$ planned sale, 2.17 Plnancl•llnJtrum•nti Th• Grouponlyhèsfinanclal assèts and financlal1Sabllltles of a klnd that quallfyas ￿sIC financlal Instruments. 8aslc finaKS•l Inllruments are lnltlallyreroyn15ed attransartlon value and subsequent measured at thelr Settlement value wlth the exceptlon of bank loan5 whkhare 5ub5equently rnea5ured at amortlsedco5t U51n9 the effertlve lThtefe5tmethod. 4. INCOME FROM DONATIONS AND LEGACIES Unre5trlcted fvnds 2023 118 Op•r•tlnq Rentals pald undeioperatlng leases are charged to ihe Con5011dated Statementof Flnan£lal ALtlvltles on a 5tralght Ilne basls overthe lease temi. Totsl fvndi 2023 Totol funds2022 Glft Ald Totsl 2023 Toto12022 26,919 26,919 24103 26,103 26,703 26,919 2¢7QJ 2.19 P•nslons TheGroup operntes an occupatlonal penslon s<heme prtsvldlng mDneypurchase benefits on a defined contrlbutlon basls. Emplgyees whglolned the monty puichase pensl¢n schem• coniiactdlrtrtty v+lth the pensloA tompany, Now Penslons Ltd. Contributions by the Group and eM￿OYeeS are determlned by the scheme rule The Group act5 a5 an agent In collectln9 and p8yln9 overemployee penslonwntrlbuilon5. Once the c¢ntrlbuiions have been pald, the GrouB osemployer. ha5 no fvrtherobllgatlons. nual Report&A￿ount5 Forlheyearended 31 De￿rnber2023

1. INCOME FROM CHARITABLE ACTIVITIES Umestrkted T+)t•l fwlds 202> Totol funds 2022 2023 Membersubsthptlonf￿s 277,665 2Y7M65 290275 Hwd Book entryfee5 I.844￿19 7,714398 Heyd BOokSe￿ceS andsundry income 242,097 2411197 263871 Journal 4dVertI￿n9 23518 2>￿18 23,527 Lwtockevents 439,374 439.J74 425.140 Othersodotyservkès 2A96 2A90 1290 C*alogue and herd brochure servlce5 666 1.610 Sreeder awards 101560 101.$60 91723 Re4ssu<transfer fees and fine5 11.927 11.927 43216 Tots1202J 1944.122 1944,121 Z851130 Totd12022 Z852,730
2. INCOME FROM OTHER TRADING ACTIVITIES Tot•1 Toiol 14tnds 2022 fvnd• 2025 MF, "H i. AC. 202J The Cattle Informatlon Svlce Llmlted 75lJh26 7,513A20 7.549,889 Natlonal 8ovln¢ Data Centre Llmlted 1464544 1,391943 T•tal 2021 8,977,970 4977,970 8.941032 Toto12022 4941832 &942A32

3. INVESTMENT INCOME Unr•Atrkt•d Total fvnth 2021 Total tunds 2022 2023 Rents recelvable 94,850 94.850 90,800 Divldendsfrom irted Inbwtments 45.284 44593 Totsl 2023 14KI,134 140.134 135J93 Tota12022 135,393 135,393 Annual R•pDrt&A((ounts Forthe year ended 31 DecembeT2023

4. EXPENDITURE ON RAISING FUNDS UDrestrltt•d ds Total fun& X+2J Total fvnds 2022 C05tot5ale5 3A47.715 3.847.715 3.79￿95 Admlnexpenses 1,080.551 ImO.551 814958 Admln staff costs 3.4￿4￿39 JAO4839 Depre(lallon 225.405 225AOS F49WY Totsl 2023 8,558,510 &558,510 7.797.Y55 Tolu12022 7,797,755 7.797.755

5. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Total Totttl fvnds 2022 202 2033 Ho15teln SodetySer¥lce5 3,400,365 3,1￿890 Tot•1 2023 3AOO.365 3,18&890 Tolo12022 3.784890 3,184890

6. ANALYSIS OF EXPENDITURE BY ACTIVITIES Adlvlt und•rt•k•n dli•¢dy 2023 Toi•l T¢tol luTrds 2022 2013 Ho15teln Soclety Servke5 3.400,365 JAOts,J65 3,188,890 T•t*1202J 3,40a305 3AOOJ65 1184890 rotsl funds 2022 fvndi 2023 2023 Staff costs 1,294￿3 1.294M3 1,O9¢734 DepreclatlDn 87￿04 87Jb04 101,641 Researchand buslnessdevelopment 70SB9 70.589 64610 Testin9 parentage 210239 210239 104522 Uvestock shows 743.151 743.151 644972 Journal printfjng and drajthin 11&686 118.686 117,756 Annual Report&Ac¢0￿nts Fortheyearended 31 December2023

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES ICONTINUED) Facilities mana9emenland utllltle5 197,957 197.957 174747 Telephone 40,823 40.823 32.663 Posts9e and #atlwery ),863 Computermalntenance 223,309 223.309 20Z050 eld staff 59.517 59.517 43,013 Audltfees 19.220 19.220 16050 GoverTh3ncecoAs 41.636 34130 Bankcharges 12,163 I116J 12J81 Marketlng and publlc 74,133 74.133 45,517 Profe551onal fees and¢￿rge5 97A07 97,407 285293 HIM tsféqulpmentand vehlcle5 18.785 10,785 1&163 Tota12025 3.400,365 3400,36S 3,18&89Q Toto12022 3,184890 3,184890 I I. AUDITORS'REMUNERATION 202> 2022 Fees payable tothe Chjrltys audltorlorthe audltof the ChaYlty5 4nnual accounts 1•,570 17,200 Fees payable tothe Charltys audltorln Fespectof.. Audltof subsldlarya(counts 16JS0 15,150

8. STAFF COSTS Gmup 2023 Ch•Ylty 202J Cho 20 2022 Wages and salarles 3.999.574 1448.728 IMI.541 88(1,897 Soclal securlty Costs 437.502 397,304 151,939 124678 Penslon costs 261640 25Z913 81,403 83,159 4.099,722 4.IH945 1,294WJ 1,090,734 Annual Report&AttountsFortheyear ended 31 December2023

9. STAFF COSTS (CONTINUED) The average numberof personsemployed bytheChari¢ydyring the year was as fDIw Grow) 2023 Charily 2021 Chthty 2022 2022 Employees Oncludlng casual and part-tlme staff) 120 41 36 Included In the average number Dfernployees are 812022: 81 employees vknowerenotemployed on a full tlme baslsthioughout the remlng The numberofemployee5 whosternployee benefits lext11￿￿ny employer penslon c05ts1 e￿eeded £60￿0Ow4s- GroUP 2023 Group 2022 In the band £60,001-£70,orxJ In the band £70,1)01 .£80,orKI Inthe band £100,001- £110,¢)00 Inthe band £110,001- £120,QOO The key management per50nnelotthe Charftoble Cornpany ctsmprlseof ihechlef Executlve Officerand theGwoupCommertlal Dlrector.The t4)tal mployee benefits Ilndudlng pen51on (onlrfbutlons and emP￿yerS natlonal Insurance) amtyjnted to £215.35512022.. £183A66k The key mana9ement personnèl of thè Gmp comprlse ofthos• 1$t￿on p•9• 2.Th•totsl employee Ixnefits of thos Ilsted on page 16 amount•d to £657,94212021' £562,726). 13.TRUSTEES'REMUNERATION AND EXPENSES Durfng th•￿ar+nd￿31 December2023,expenses totallln9 £20I15 were r¢lmbursed or pald dlrertlyto14Trustee$ (2022- £16,511 to l 1 Trusteesl,Theseexpense5 relateth• paymentor rèlmbursement oltrav•l and sul>slst•nce In relatlon toartendancé ètme•tSng$ of theTtustees, at meetlngs ofTru5tees of 5ub51dkry<ompanles Jnd other ma￿ge￿nt artI￿les. Ho15tdn UKttustee5 do notTecelveiemuneratlon lorthelrtSme.

10. INTANGIBLE ASSETS webs￿•/ application devtiopmént. costs £ Cort At l January 2023 1,080,117 Addttlons 26,00 At 310ecember 2023 1,106.827 Amortliatlon At 1 JaTruaTy 2023 1.011.919 Chargefortheye•r SI￿79 At 31 Decembei 2023 1,006,79• N•tb•okvalu• At 31 Derember2023 40J129 At31 December2022 AAnual R•port&AcMuntsForthe year ended 31 DecembEI2023

11. TANGIBLE FIXED ASSETS Fr¢hold p￿DI•￿d Prornotlonal m•chln•ry equlpment C•rt or Vi￿11¢ At l JèThuory 2023 10,534091 4,613.507 16,783 15,16BJ81 Addltlons 107,003 472.701 579.704 tlsptssals 144,00¥ 144,0021 Revaluatkins I565,0￿) I565,0￿) At 31 December 2023 10,080,094 S￿2,206 16,783 IS,139￿83 D•pr•thtlo At l January 2Q23 30,494 2.749A53 9,125 1789lJ72 Ch•rg•forth• y••i 257,529 257529 on dlsposals 140.3361 40.3361 At 31 ￿¢emb+r 2023 30A94 1966.646 9,125 3,006265 N•tbookv•lu• At 31 D•c•mb•r 2023 10,1149,600 2,075,560 At31 December2022 10,507,597 1,864,054 7,658 IZ379.309 Iv Fr••hold pr4p•ity Cornput•r •qulprn•nt Promotloml •qulpm•nt qqulprnqnt Totsl C•st •rv•lu•tl At l January 2023 1￿538,097 5B7.298 146.063 la783 11,288235 Addltlons 107,003 57,038 29.646 193,687 Revaluitlons I565,1￿0) 1$fj5,O￿l A¢ 31 Decernber 2Q23 lo.080￿94 644,336 175,709 1&783 10.9?&922 Oepr•cl•llo At l January 2023 30,494 437,282 134,687 9,125 611588 Chargfortht yeir 21,208 10,857 31125 At 31 Decernber 2023 30A94 458,550 145,544 9,125 643.713 N•tbookv•lu• At 31 Decernber 2023 10.fA9.000 1￿.786 30.115 7.65• 10a7¥￿9 At31 December2022 10507.597 150,016 17,376 7.658 10,676647 Th• Group•nd ChBvSty Thtfreehold land and buildlngs at Scotsbrfdge HouseandSparHouseKYe revaluedat£7,0(x)JXX)ar￿ £725.OOOre5pedvety.The ScotsbrSdgHous• valuahcn lsbased onTrustees'valuation, InfoTmed bynegollatlon5 InTelat1ontoltspl￿ned 5ale.Spelr Hou5evaluatlon was undertakenbyAndrew Dlxonandcompanyichartered Surveyor5, In August2022.The hIstc￿Cr￿rt0f the prOwfjes￿r•£a52,948and £762,386 reSFrtfv￿.Addl1l)n5 madeafterihetwaluatlon hbvÈ beèn Included at(ostTheTru5teeJ haveagreod105ellScotsbrldge House and asèlels anticipated in2024. Charlty Thecharfty has a le9al charge in plaeewith Ba¥clay5 Bank PLC, secured again￿ the land and bullding5 held at Scotsbrld9e House, RlckmaTh5WOrt Hertford5hi R•port& Atcounts Fortheyearended 31 DecembeT2023

12. INVESTMENT PROPERTY Freeholj Investment pioperty At l January2023 2325mO Revaluatlon 1125,0001 At31 December2023 &325,000 Freehold Invellmerbt pioperty Itlon At l January 2023 2,325,OOD Rwaluatlon 1125,¢4)01 At 31 December 2023 IJ25.OIM> Th• Group￿dchIyIty The Invesimentpmpertles resldlng at the Scotsblldgè House ilttwere rtvaluedat f 2.325JJOO based upon valuatlon5 produced byGlbbs GI1￿$Ple£stale A9ents. Surveyors andvaluers on 10 January 2019 and updated at l M4rch 2023.The revlluatlon In theyearls bèsed onTruste valuatlon whlch h4$1)een Informed by n•gOtl•tk*ns In r•l•tlon to i planned sa￿.The hl$torfcal tOStofthe pr¢pertl•s was £411,295 12022.. £411,295).

13. FIXED ASSET INVESTMENTS L15ted Inv•stmenls Colt or v4luat At l January 2023 1,641152 AddltlgTrs 264,062 Dlsposals (277,8431 Revalualh)n5 70,072 At 31 D•c•mb•r2023 1,751443 Net b0okv•￿e Al Jl D•c•mb•r202J 1,754443 At31 December2022 1.641152 Anthu*lR•port &Accounts Fortheyear ended 31 December2023

14. FIXED ASSET INVESTMENTS ICONTINUED) InvestmerrtS In subslthary compaTrles Ltsted Investments Totsl C0rtorvah￿1O At 1 January 2023 1.041152 2A0ffj137 Addhlons 2fj&062 264062 Disposals I7￿43) 1117.0431 Rev4luatlons 7W2 7W2 Aljl D•¢•mb•r2O23 705,985 1.754443 152V28 N•t book¥ilu• At31 D•wThb•r2023 705.985 1.7¥443 2.524A28 At31 Detember2022 765,985 1,642,152 Z404137

15. ANALYSIS OF LISTED INVESTMENTS 202J 2033 Cwrate bonds-fixed Interest 249.S48 121,777 Equltles- Ilst•d UK 424231 420265 Equltlès- Ilsted Internatlonal 700339 672,346 Propertyand alt•matlves J84HOS 427,764 1,7S8H43 1,642,152
16. STOCKS Gmup 2023 Group 2022 LaboratOryCOll5um4ble5 251806 107,382

17. DEBTORS fjmup 202J CharSty 2023 2021 2022 Due wlthln oneyear Trnde de￿or$ 1A15.444 1.54Q425 007.336 007.749 Amounts owed byGroup undertakln9S 649216 ?J27.843 Otherdebtors 14915 14,955 11.301 Prepaymentsandacoued Incorne 212,578 197.758 1SOAI15 IM873 1,642.937 1,753,138 IA17￿6• 2285,1 Annual A•port&Accounts ForthE yearended 31 Deomber2023

18. CREDITORS: AMOUNTS FALLING DUEWITHIN ONEYEAR r*oup 2023 Group 2022 ChaTrlty 2021 Ch•rfty 2022 Trddè credltors 753A23 781493 261.065 281,607 Amounts owed toGr9￿ undertaklngs 75fj623 Othertaxatlonand soclal seCu￿ty 3W781 341978 69.514 49,809 Othercredltor5 70531 30•5 21,417 Accruals and deferre(l income 109,747 56,106 71807 1.501506 7,307.749 417,170 1.181251 Group 202J Cha￿lY 2023 Ch4rfty 2023 2022 Deferred Income at l JaThuary2023 1319 8357 2.319 8.357 Resources deferred dulln9 theyear 1149J 1319 12.493 1319 Amwnts rd•as•d from pmlous ptrltds 12Ji• (4357) 12,3191 18,3571 11495 1319 12A9J 2J19 CHARITY Thècharlty ha5 èlegal charge In place wlth 8arclays BankPLC, secured agalnst ¢he l)nd and bulWln99 held at Scotsbrldg• Hous•, Rlckman5WOrth, Hertfwd5hlre.

19. STATEMENT OF FUNDS B•hn£• •t 31 D•c•mb•r 302> B•lanc•411 January2023 G•ln ILosi•sl Intom• Exp•ndliyM UnM•tslrt•d fun FM• R•Mrv•• 5.395MS 3.111.175 5,194314 Nan<h•rltabl•Subildlarhi 8,977.970 1&558,5101 5.205.174 R•V•￿all￿n ruer 7,$98JlO 1690,0001 4900.J40 17.839W9 11089.14S 111.958.87SI 1601.5611 17,308.54B Bahnce •t31 D•cemb•r 2022 Baknc••t I J•Thuary 2022 Incom• Exp•ndltur• IL•sswl Uhresttht•dfvnds SA25.017 3XI13A26 (3.10￿89￿) 145,312 5.395.065 Nortrch•rlt•bleSubsldl•rl•s 3.74J.71 8.94U32 (7.797.755) 1413791 4846M14 R•￿I￿tIon wq8•Th• 7.5A360 7.598J60 16.767,093 11.956h58 110.986h451 14lJ791 145.312 17039039 Annu41 R•pOrt&A¢￿￿￿ts Fortheyearended 31 December2023

20. ANALYSIS OF NET ASSETS BETWEEN FUNDS pl Unrestrltt*d ds Total lunda 2023 Tlnglblethd assets 12.131818 1113UI8 Intanglble fixed a55e15 F(xed bssetlnvéstmérts 1.75W3 1.75W3 Investment property I200￿00 I200￿0 Curréntas5ets 2,539,764 1539,704 Cre(tstQTS duewlthln one year 11,302,$061 11.3015061 Tot•1 I7,3￿548 Totol fvnd5 2022 IQ32 Tons7lblefixedassets 12,379,30 IZ379,309 Intan9lblefixedoJseri F(xedoSsetln￿$fft￿nrs 1,643,152 1.642,152 InKstmenfpmperty 2,325,OC Z325,GQO Cutwntossets 2.73Z219 Z732,219 Crtdltorsduewlrhln oneyear (1,307.749) fl,307,745•1 rotal 17AJ9.8Jg 17,83W9

21. RECONCILIATION OF NET MOVEMENT IN FUNDSTO NET CASH FLOW FROM OPERATING ACTIVITIES Group 2023 Grnup 2Q22 Netlncomeforthe perf￿[•5 perStat*ment of Ananclal Activttlesl 21B.70 747,746 AdJu51m•ntsfw. Dep1￿￿3110n charges 257.529 161363 Amor￿SaIlon ch4rye5 54.879 89,769 Revaluatlon on Investments (70,0721 183,332 Dlvldend¥ Intorestsand rents from ￿n￿stments 1I40.I341 (135393) Dec￿&Sel Uncrea5el lTrsto¢ks 114S.4041 29.393 Decrease In debtors 110201 743.740 De(￿ASe In credltors 15,2431 11.04Q087) Profit onsale of fved a55ets 11.3341 (IZ7501 Netcash provided byoperatlng actsvtt￿s 179.051 767,513 AMu41 R•port&At¢OUhtsFor the year ended 31 December2023

22. ANALYSIS OF CASH AND CASH EQUIVALENTS Group 2022 2023 Ca$h In hand 643.961 571A99 Totslca5h and cashequfvalent5 64J.961 877099

23. ANALYSIS OF CHANGES IN NET DEBT At l Jinuary 202J At31 CashflowsD•r•mb•r2023 Cash at bankand In hand 871h99 1227,7381 043.961 •71,699 27,7J81
24. CAPITAL COMMITMENTS ¢￿￿P 2023 Gr￿P 2022 Charlty 2oiJ Ch•rMy 2022 Acqulsltlon of tanglbleassets 413 19,280

25. PENSION COMMITMENTS TheGroupoperates anoccupatlonal pen51on scheme provldlng money puKhase benefits on •defi￿d c?Thtrlbutlon basls. Employeeswhololned the money purchase penslon schemecontrèctdl￿Cl￿Wlth the pensi¢)n company, N¢)w Pènslons Ltd.Contributlons bythe groupand employees arè delém￿nèd bythèschèmè rules.ThtGr¢up a<ts as an agent In coll¢ctln9and Pl￿n9 overemployee pen$lon Contrf￿tlons.OTrC•th• COnt￿but10ns have been paldtheGrouN asemploytt, nofvrtherobllgatloThk AUTOMATIC ENROLMENT From l Aprll 2015,theCharltyand sub51dlary,separatetyentered Intoa partlclpatlon agreementw6th NOW.. Penslon5 Ltd whlch uttlmatsly8llows the employees oftheChailtyaMI sub51dlaryto become Memb￿$ of NOW.. PenslonsTN5t (Plan), whlch15a reglstsred occupatlonal penslon Scheme governed bytheTTh￿ Deed and Rulesdated 29 November2011 bywhlch the Plan was è5tabllshed. NOW. Penslons Ltd Is£urrentlyth• Trust Managerand theTrust••of th• Pl•n IscuYrntty NOW. P•nslonTwst••Ltd. PLin Summary.. -15an Kcupatlonal pen51on schemetstabllshed In the Unltéd Klngdom., .1$ rtglst•rndw(th HM R•v•nueand Cu5tomsunderthé FlnanceAct 2004.and -altOW5foremployeesto be enrolled Into theplan autornaticalty,wlthout thern needlng to expre55 anYd￿l￿Or provlde anylnftrnMtlon on any matter. Accordlngty. th Plan kcapabk of acttng as an automatlc enrolmentschÈmeforthe purposesoftheAutomatlc Enrolment Law&Howèvr. in ordertoart as an automatlc enrotrnentschemq ttvAII a150 need tosatisfycertaln contributb)n requlremontkThe¢harityand subsIdiary￿ll both be re5pon5iblefor en5urin9 thatth05e regulrements aresattsfied, andforgfvlng •ny certlficattwhlch isr*qulRd underthe Aut(¥motlc Enrolment Laws forthatpurp05e. Annwal R•port&Accounts Fortheyearended 31 December2023

26. OPERATING LEASE COMMITMENTS Ai 31 Dei•nber 2023 the Group and thècharlty hod commitments tomakefirtwe mtnimurn lease payments under non-carKellableopernbng leasesas follows.. Gr￿P 202J Charlty 1023 2032 2023 Not latprthan l year 707,820 20.633 4519 Laterthan l yearand notlaterthan 5yeats 197.61J 111729 28,921 Jswl 12Q555 49.554 1&371 30, RELATED PARTYTRANSACTIONS Durfng the year,the followlng tran5affllon$tookplace beNeen the Charftyand 1tswholtycontroll￿ subsldi4rles,TheCattlo Infoimatlon str￿ct Llmlted ICISI,TheCentrefor Dalry Infomatlon Llmlted ICDI) and Nallonal Bovlne DataCentreLlmlted INBt)a'. theCharlty15 partyto a Group reg15tratlon forVATpurposes. A5 the representstlvemember, the chaT￿Y15101ntlY and sévèrally Ilablefoi anyVAT Ilabllltles ofthe sub51dlarycompanles that are partofihe sameVAT reglstratS0n.' thepwvlslon of property under lease ègre•mènt ienewablé annually bytheCharftytoCIS amounttd to £410W12022: £36.0001,' thè piovlslon of staff bythe Chjittyto Clsand NBDC arnounted to £341.62012022.' £260,329> and £52.81612022.. £28,625) re5peitlvelyi the provlslon of admlnlstratlve costs by th• Charltyto CIS and NBDCamounted to £55.04112022.. f49,5531 and £9,39012022.. £&9951 spectlvely.. thttfanslrof glft ald of the tradlng profits of C15 tothe Charftyof £NII12022.. £1,066fi821,' th•outrt•ndlng batsnctt is at 31 D•c•mb•i 2023,from thC￿tothe Charltywas £61th)I (2022: £270,289), and from NBDC and CDltothe Charltywas £587,21512022.. £476,08l1 and £NII12022.. £24I411 re$pectlvely¢ theout5tsndlng balancefrom N3DC1s iecured over the re$pert￿Com￿n￿$ •ss•ts, •nd Is repl￿bleon demand. the pwvlslon of laborniorytestlng servlces byC1510 thÈCharltyl$ recéfvÈd onthé samé tèmis a5 theyare rrfelved by other beneficlartes ofth• Charity. u•1 R•port &Attouhts Fortheyeirended 31 December2023

27. PRINCIPAL SUBSIDIARIES The lolb)wing were subsldlary undertaklngs of thé Charity.. i•d4 or prificlpll <onsol Th• (attl• lthfomi•tltyn Ser¥1￿ LTD 5C14H62 9 Queen5 Roa Aberdee AB15 4YL Support attlvltles for animal prtyjuction and data proce551n h05ting and related actlvltles Ordlnary A & 0￿1￿4¥Y B 100% Yes Th• C•ntr• ft4r D41ry Inton￿•￿•Th LTD 05409255 Scope Haust, Hortonwood 33, Tehrd, ShTopshlre, TF17EX Support actlvltles for anlmal productlon curientty dormant Llmlted by 100% Yes guarantee and no share capltal. N•tlon•l Bovln• Dat• C•ntr• LTD 10052419 Scope House. Hortonwood 33, Telford Shropshlre, TFI 7EX Support acilvltles Ordlnllry for anlmal productlon. 100% Ye5 Thé IlnantL41 résults of the 5ub51dlarle5 forthe ye•rwew. Profit Ihssll lurplu￿ Id•fl£ltl rih•yHr In¢om• (IIAbllltt•Jl The Catde Inforrna￿on Servlce LTD 7,513A26 17,065A261 448,0 1600A87 Natlonal Bovlne Oata Centre LTD 1.404,544 11.493.084) 128,5401 1486,6851 knnual R•port& AC￿￿￿t$ Fortheyearended 31 December J)23

holstein UK holstP. ill Lk, l)i-iti4h fi'iebi<lll T: 01923 69520a I W-. www.holstein-uk.org l E-. [e-mail] Holstein UK, Scope House, Hortonwood 33, Telford, Shropshire TFI 7EX Company Registered No: 3674328 (England and Wale51 I Charity No.. 1072998