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2021-07-31-accounts

REGISTERED COMPANY NUMBER: 03974594 (England and Wales) REGISTERED CHARITY NUMBER: 1101183 (England and Wales) $C039030 (Scotland)

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REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

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-1HSGB LIMITED COMPANY LIMITED BY GUARANTEE

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FARITY CONMISS:
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Bevan Buckland LLP Chartered Accountants - 45 High Street Haverfordwest Pembrokeshire SA61 2BP

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IHSGB LIMITED COMPANY LIMITED BY GUARANTEE

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

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Page Page
Reportofthe Trustees 1 to 3
IndependentExaminer's Report 4
Statement ofFinancial Activities 5
Statement ofFinancial Position ' 6 to 7
Notes to the Financial Statements 8 to 13
DetailedStatementofFinancialActivities 14 to 15

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(IHSGB LIMITED COMPANY LIMITED BY GUARANTEE , REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Significant activities ; The IHSGB publishes regular newsletters with information about Icelandics at home and abroad. Various IHSGB items may be purchased including sweatshirts, car-stickers, spare-wheel covers etc. National Championships are held every year, and every two years is the World Championships for Icelandic Horses to which Britain sends a team to compete.

The IHSGB has members all over Great Britain and there are training courses, pleasure rides, competitions and social events held all over the country. Junior members have their own events and can take part in several international events organised by FEIF.

Public benefit

The charity has had due regard for; the Charity Commission's general guidance on, public benefit when reviewing its objectives and planning its future activities. The charity meets the public benefit requirement of advancement of animal welfare. . Creation and use of the IHSGB General Development Fund To maintain our status as a registered charity that is able to claim tax relief, we are required to demonstrate annual achievement of the Society's aims. The creation of this fund will help us achieve our goals and will also demonstrate our charitable credentials. The aim of the fund is for the interest earned to be used to award grants that will further the Society's objectives.

Applications for grants ‘are to be made in writing to the Board of Trustees by 31st July each year for the following year. The application should include the reasoning why the applicant believes that the Society objectives would be enhanced and state the benefits to be gained. , . Applications may be from anyone, and there is no limit to the number of times an individual may apply. ; The Board of Trustees shall consider the merits of each and every application, seeking clarification where necessary. Any awards so granted will be announced at the Society AGM in November. If no applications are received or none is considered sufficiently worthy then the interest will be reinvested into the fund. If the total amount asked for by those applications considered worthy exceeds the amount of interest available then the Board will decide which applications will provide the Society with the greatest return. The Board decision is final and there will be no right of appeal, however the individual may apply again the following year. The capital of the fund may only be spent in exceptional circumstances and the trustees will need the majority of fully paid up members to give their written agreement. This will reassure people that their donations will be fully used to create a lasting legacy.

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tHSGB LIMITED COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021

ACHIEVEMENT AND PERFORMANCE

Charitable activities Please see Annual Report

Total funding received during the year was was £38,523 (2020 £26,820) and resources expended during the year amounted to £25,171 (2020 £25,556) resulting in reserves of £49,893 (2020 £36,541) of which £42,644 (2020 £30,355) are unrestricted.

STRUCTURE, GOVERNANCE AND AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The constitution of the Icelandic Horse Society of Great Britain (IHSGB Ltd) is defined by its memorandum and articles of association.

Founded in 1986, the IHSGB exists to maintain the purity of the unique Icelandic horse, to promote interest in the breed, to protect the welfare of the breed, and to encourage Icelandic horse breeding and riding competitions.

The British Society is a full member of FEIF, the International Federation of Icelandic Horse Associations, which has 20 members including Canada and the USA. IHSGB is the only Icelandic horse association in Britain recognised by FEIF as representing the whole of the United Kingdom.

IHSGB is a Passport Issuing Organisation, authorised by DEFRA. We provide passports for Pure-bred Icelandic horses. IHSGB also provides data on Icelandic horses to the National Equine Database. Please note - if a horse does not have a passport from the IHSGB or another FEIF organisation then it may not be a pure, registered Icelandic horse, and it will not be able to enter IHSGB events.

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IHSGB LIMITED COMPANY LIMITED BY GUARANTEE

REPORT OF THETRUSTEES FOR THE YEAR ENDED.31 JULY 2021

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STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment. and appointment of new trustees Trusteesofeach-yeartrustees,areIn subject rotationelectedto:andby the themay:offersubsequentAnnual: themselvesGeneral approvalMeetitigf o fr re-election: the. of next the society.AGM. OneTrustees third ofmaythe betrustees co-opted. will7 by standthe board down. REFERENCE:AND ADMINISTRATIVE DETAILS ' Registered Company. number 03974594 (England and Wales) Registered Charity number: 1101183 (England and Wales) $C039030. (Scotland) ; Registered office Se Midfield Farm Galsgill Tebay , Penrith. Cumbria _ CA10 3UH * Trustees OC ° J Adams (re-elected 14.11.20) . M Adams \ + F Glansdorp (re-elected 14.11.20 resigned 18.08.2021) K Smith ; ‘P. Heathcote-(Chair) : . . Independent Examiner ) Bevan Buckland LLP Chartered Accountants 45 High Street Haverfordwest Pembrokeshire SA61 2BP ; Approved by order ofthe’ board-of trustees on Jn. Deco zat Pree -and signed on its behalf by:

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P Heathcote - Chair

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF IHSGB LIMITED COMPANY LIMITED BY GUARANTEE

’ Independent examiner's report to the trustees of IHSGB LIMITED COMPANY LIMITED BY GUARANTEE (‘the Company’)

| report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement , | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

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  1. accounting records were not kept in respect of the Company 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 a matter considered as part of an independent examination; or

  3. 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 charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of[Ireland] (FRS[102)).]

i have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Alun Evans. BCom (Acc) FCA MABRP Bevan Buckland LLP Chartered Accountants 45 High Street Haverfordwest Pembrokeshire SA61 2BP

Date: 8October2021

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IHSGB LIMITED COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2021

2021 2020
Unrestricted
fund
—		 Restricted
funds		 Endowment
fund		 Total
funds		 Total
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funds
Notes £ £ £ £ £
INCOME AND Lo
ENDOWMENTS FROM
Donationsand legacies 14,863 - - 14,863 11,292
Charitable activities
Promotion, welfare and care 17,587 - - 17,587 19,201
Investment income 2 4,926 - 1,063 §,989 (3,673)
Other income 84 - - 84 -
Total 37,460 - ; 1,063 38,523 26,820
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EXPENDITURE ON
Charitable activities
Promotion, welfare and care 25,114 - - 25,114 25,556
NET INCOME 12,346 - 1,063 13,409 1,264
RECONCILIATION OF
FUNDS
Totalfunds brought
forward 30,355 - 6,186 36,541 35,277
TOTAL FUNDS CARRIED .
FORWARD 42,701 - 7,249 49,950 36,541

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The notes form part of these financial statements .

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IHSGB LIMITED COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION 31 JULY 2021

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; 2021 2020
Unrestricted Restricted Endowment Total Total
fund funds fund funds funds
Notes £ £ £ £ £
FIXED ASSETS
. Tangible assets ' 6 37 - - 37 46
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CURRENT ASSETS
Debtors 7 1,435 - - 4,435 2,503
Investments 8 20,583 - 7,249 27,832 22,382
Cash at bank 24,039 —__- —___— 24,039 15,077
46,057 - 7,249 53,306 . 39,962
CREDITORS
Amounts falling due within
one year 9 (3,393) - - (3,393) (3,467)
NET CURRENT ASSETS 42,664 - 7,249 49,913 36,495
TOTAL ASSETS LESS
CURRENT LIABILITIES 42,701 - 7,249 49,950 36,541
NET ASSETS 42,704 - 7,249 49,950 36,541 :
FUNDS 10
Unrestricted funds 42,701 30,355
Endowment funds 7,249 6,186
TOTAL FUNDS 49,950 36,541
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021. :

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

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IHSGB LIMITED. COMPANY LIMITED BY:GUARANTEE. STATEMENT OF FINANCIAL POSITION -:continued 31 JULY.2021

These financial statements have been prepared in accordance with. the provisions applicable. to charitable companies subject to the small companies regime.

}OcinS28,..202.....and-were.signedfinancial statements were. approved on:itsby the Board,behalf by: of: Trusteés. and. authorised for ‘issue on

P Heathcote -Chair

Mi Adams—Trustee _

J Adams.-Trustee:

E Brimble - Trustee

R Hughes ~ Trustee

K'Smith.- Trustee

The notes form part of these financial statements

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{HSGB LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

  1. ACCOUNTING POLICIES

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Basis of preparing the financial statements

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The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

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All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. .

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity, this is normally upon notification of the interest paid or payable by the Bank.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in setttement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a , commitment but not accrued as expenditure.

Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% reducing balance

Taxation . The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes.to the financial statements.

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{1HSGB LIMITED COMPANY LIMITED BY GUARANTEE . NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2021

NOTES TO THE FINANCIALTO THE FINANCIALTHE FINANCIALFINANCIAL NOTES TO THE FINANCIALTO THE FINANCIALTHE FINANCIALFINANCIAL STATEMENTS-- continued STATEMENTS-- continued STATEMENTS-- continued STATEMENTS-- continued ;
FOR THE YEAR ENDED 31 JULY 2021
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2. INVESTMENT INCOME °
2021 2020 ;
£ £
CAFendowment fund value 5,450 (4,444)
CAF endowmentfund interest ce 537 771
Otherinterest 2 -
5,989 (3,673)
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
; 2021 2020 -
£ £
Depreciation - owned assets 9 12
4. TRUSTEES’ REMUNERATION ANDBENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2021 nor for the
yearended 31 July 2020.
Trustees‘ expenses
2021 2020
£ £
Trustees’ expenses 19 1,106
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5. COMPARATIVES FOR THE STATEMENT OF FINANCIALACTIVITIES ACTIVITIES
. Unrestricted
fund		 Restricted
funds		 Endowment
fund		 Total
funds
£ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 11,292 - - 11,292
Charitable activities
Promotion, welfare and care 19,201 - - 19,201
Investmentincome (2,888) : (785) (3,673)
Total 27,605 - (785) 26,820
EXPENDITUREON
Charitable-activities
Promotion, welfare and care 25,556 - - 25,556
NETINCOME/(EXPENDITURE) 2,049 - (785) 1,264
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IHSGB LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021

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5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Endowment Total
fund funds fund funds
£ £ £ £
RECONCILIATION OF FUNDS
Total funds brought forward 28,306 - 6,971 35,277
TOTALFUNDSCARRIED FORWARD 30,355 - 6,186 36,541
6. TANGIBLE FIXED ASSETS
Plant and
machinery
£
COST
At 1 August 2020 and 31 July 2021 2,606
DEPRECIATION
At1August2020 2,560
Charge foryear 9
At 31 July 2021 2,569
NET BOOK VALUE
At 31 July 2021 37
At 31 July 2020 46
Items above £150 are capitalised and accounted for as a fixed assets addition.
impairment reviews are carried outwhere necessary.
7. ‘DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
: Tradedebtors 1,435 2,503

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IHSGB LIMITED COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |8.|CURRENT|ASSET|INVESTMENTS| |2021|2020| |£|£| |Unlisted|investments|27,832|22,382| |9.|CREDITORS:|AMOUNTS|FALLING|DUE|WITHIN|ONE YEAR|,| |2021|2020| |.|,|£|£| |Trade|creditors|1,341|414| |Other|creditors|2,052|3,056| |3,393|3,467| |10.|MOVEMENT|IN|FUNDS|.| |Net| |At|1.8.20|movementin|funds|31.7.21At| |£|£|£| |Unrestricted|funds| |General|fund|30,355|12,346|42,701| |Endowment funds| |CAF|youth|endowment fund|6,186|1,063|7,249| |TOTAL|FUNDS|36,541|,|13,409|49,950| |Net|movement|in|funds,|included|in the|above|are|as|follows:| |Incoming|Resources|Movement| |resources|expended|in|funds| |,|£|£|£| |Unrestricted|funds| |General|fund|37,460|(25,114)|12,346|.| |Endowment|funds.|:| |CAF|youth|endowment|fund|1,063|:|-|1,063| |TOTAL FUNDS|38,523|(25,1 14)|13,409|

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IHSGB LIMITED COMPANY LIMITED BY GUARANTEE

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NOTES TOFOR THETHEFINANCIAL YEAR ENDEDSTATEMENTS31 JULY 2021continued 10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

movement At
At 1.8.19 in funds 31.7.20
£ £ £
Unrestricted funds
General fund 28,306 2,049 30,355
Endowmentfunds
CAFyouthendowment fund 6,971 (785) 6,186
TOTAL FUNDS 35,277 1,264 36,541
Comparative netmovement infunds, included intheabove are asfollows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 27,605 (25,556) 2,049
Endowmentfunds
CAF youthendowment fund (785) - (785)
TOTALFUNDS 26,820 (25,556) 1,264
Acurrent year 12 months and prioryear 12 months combined position is as follows:
Net
movement At .
At 1.8.19 in funds 31.7.21
£ £ £
Unrestricted funds
Generat-fund .
28,306		 14,395 42,701
Endowmentfunds
CAF youth endowmentfund 6,971 278 7,249
TOTALFUNDS 35,277 14,673 49,950

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IHSGB LIMITED COMPANY LIMITED BY GUARANTEE

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NOTES TO THE FINANCIAL STATEMENTS- continued . FOR THE YEAR ENDED 31 JULY 2021

  1. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

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|||||||| |---|---|---|---|---|---|---| |;|Incoming|Resources.|Movement| |resources|expended|in funds| |£|£|£| |Unrestricted|funds|.| |General|fund|65,065|(50,670)|14,395| |Endowment|funds| |CAF|youth|endowment|fund|278|-|278| |TOTAL FUNDS FUNDS|.|65,343|(50,670)|14,673|

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TOTAL FUNDS FUNDS

  1. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2021.

  1. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and in the event of winding up of the charitable company, the liability of each member will not exceed £10.

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IHSGB LIMITED
COMPANY LIMITED BY GUARANTEE
DETAILED STATEMENT OF FINANCIALACTIVITIES
FOR THE YEAR ENDED 31 JULY 2021
2021 2020
£ £
INCOME AND ENDOWMENTS ,
Donations and legacies
Donations 4,128 1,505 —
Gift aid 1,435 1,287
Subscriptions : 9,300 8,500
14,863 11,292
Investment income
CAF endowment fund value 5,450 (4,444)
CAF endowmentfund interest §37 771
Other interest 2 :
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; 5,989 (3,673)
Charitable activities
Breeding activities 3,261 1,885
Sport activities 10,084 10,644
Education and training 3,035 6,075
Sundries
Awards/misc/calendars		 612
595		 597
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17,587 19,201
Other income
AGM 84 :
Total incoming resources : 38,523 26,820
EXPENDITURE
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Charitable activities
Publicity and promotion 2,408 1,687
Sundries 20 20
FEIF activities 627 2,178
Breeding activities ‘ 2,067 1,693
Sport activities 14,115 10,655
Youth activities 25 (7)
Education and training 3,118 5,892
Membership activities 98 -
Grants to individuals : 225
22,478 22,343

This page does not form part of the statutory financial statements

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IHSGB LIMITED COMPANY LIMITED BY GUARANTEE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES : FOR THE YEAR ENDED 31 JULY 2021

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||||||| |---|---|---|---|---|---| |,|2021|2020| |£|£| |Support|costs|.| |Management| |Trustees’|expenses|19|1,106| |:|Insurance|590|75| |Administration|1,143|1,017| |Professional|fees|624|1,003| |AGM|,|251|-| |Depreciation|.|9|12| |2,636|3,213| |-|Total|resources|expended|25,114|25,556| |Net income|13,409|1,264|

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