COMPANY REGISTRATION NUMBER: 01743500 CHARITY REGISTRATION NUMBER: 1108263
THE BRITISH BLUE CATTLE SOCIETY COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
David Allen
Chartered Accountants Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY
THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
CONTENTS
| Trustees' report (incorporating the directors' report) | 1 to 7 |
|---|---|
| Independent examiner's report | 8 |
| Statement of financial activities | 9 to 10 |
| Balance sheet | 11 to 12 |
| Notes to the financial statements | 13 to 27 |
THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCORPORATING THE DIRECTORS' REPORT)
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and independent examiner's report of the charitable company for the year ended 31 December 2025. The annual report serves the purpose of both trustees' report and a directors' report under company law.
OBJECTIVES AND ACTIVITIES
The objective of the charity is the promotion of agriculture, for public benefit, by the encouragement, promotion and improvement of the breeding of the British Blue breed of livestock and the maintenance of the purity of the breed. The trustees have considered the guidance produced by the Charity Commission on the provision of the public benefit and they confirm that public benefit has been provided by carrying out this objective.
The charity operated throughout the UK and also worldwide where necessary and appropriate to its objectives.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCORPORATING THE DIRECTORS' REPORT) (CONTINUED)
ACHIEVEMENTS AND PERFORMANCE
During the year the charity was involved in the following activities:
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Working with Pedigree Cattle Services, in Perth, on the training and validation of ‘Breedplan Genetic Evaluation’ on-farm scanning technicians and servicing the needs of ’Breedplan, Beef Recording members with their queries.
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Subsidising the pursuit of the encouragement of the recording of carcase data through genetic evaluation.
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Representing the society on the ‘Breedplan UK’ Users’ Group.
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Handling over 1,200 pedigree registrations in the year, safeguarding the integrity of the Herdbook at all times, issuing transfer certificates, facilitating DNA parentage analysis and fielding general queries for approximately 600 members.
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Providing and servicing the society website. Statistics for the website peaked at 7,500 visitors, looking at 24,000 pages per month; with an average of 660 pages being accessed per day.
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Promoting the beef industry, through the society, at 5 national summer agricultural shows and 4 winter fatstock events, in addition to supporting the society’s eight Regional Clubs at promotional events in their area, a number of these being ‘open’ meetings or farm walks organised for the benefit, not only of society and club members, but also for a more general audience.
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Representing the society on the National Beef Association and Pedigree Beef Societies’ Group.
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Providing rosettes to over 40 shows throughout the UK.
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Providing breed commentary notes to over 40 regional shows and 5 national shows for the information of the general public.
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Providing an ‘online’ bull semen marketing opportunity in which approximately £4,200 worth of semen was sold both at home and overseas.
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Providing 9 sales venues held under the society’s auspices.
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Administering a cattle inspection service, at sales held under the auspices of the society with the objective of raising beef cattle quality standards in the beef industry.
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Continuing to monitor compulsory minimum cattle health standards at sales held under the society’s auspices, with a view to raising general health standards within the national beef herd.
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCORPORATING THE DIRECTORS' REPORT) (CONTINUED)
FINANCIAL REVIEW
The Statement of Financial Activities on page 9 shows a net gain of £4,529 (2024: net deficit of £5,908). The total income for the year amounted to £130,812 (2024: £146,745). The main income stream for the charity being registrations, followed by membership income.
The total expenditure for the year amounted to £151,579 (2024: £165,313). The main expenditure incurred by the charity was for breed promotion and office and administrative overheads. Total funds carried forward at 31 December 2025 amounted to £320,032 (£2024: £315,503). The results for the year and the charity's financial position at the end of the year are shown in the attached financial statements.
The trustees have reviewed the charity’s needs for reserves in line with the guidance issued by the Charity Commission.
Over a period of years the trustees have followed a policy to establish financial reserves that would be sufficient to cover foreseeable contingencies. The trustees aim to be able to retain sufficient reserves necessary to meet liabilities and expenses for a period of one and a half years, should any of the funding sources become unreliable or be delayed due to an extended period of economic downturn in the agricultural industry.
Financial investment powers and management lie with the charity treasurer, with all final decisions being ratified by a majority decision of the charity’s trustees.
The board of trustees has conducted a review of the major risks to which the charity is exposed through internal and external processes. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. The significant external risks being managing inter-beef breed competition and upholding the reputation and status of the British Blue breed.
Internal control risks are minimised by the implementation of procedures for authorisation of all transactions. Procedures are in place to ensure compliance with health and safety of staff and visitors to the premises and programmes. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.
The key priority regarding financial risks being, firstly, the secure investment of the charity’s financial assets and secondly, achieving the highest return without incurring any financial risk.
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCORPORATING THE DIRECTORS' REPORT) (CONTINUED)
STRUCTURE, GOVERNANCE AND MANAGEMENT
The British Blue Cattle Society is a charitable company limited by guarantee, incorporated on 29 July 1983 and registered as a charity on 23 February 2005. The charitable company is governed under its Memorandum and Articles of Association dated 29 July 1983 as amended by special resolutions dated 9 May 1997, 12 May 1998 and 20 January 2005.
Any person can be admitted as a trustee of the charitable company providing all other trustees give their approval.
The charitable company is made up of 13 elected directors, each serving a period of office for four years. Each year three national seats come up for re-election, with four regional members being elected once in four years.
Trustees are inducted through a process of best practice. They have the opportunity to meet, study and understand the vision, mission and values of the organisation and clarify their roles and responsibilities. The trustees are selected for their contribution, skills and expertise that they can bring to manage the organisation.
The board of trustees administers the charity and they meet four times during the year to discuss and formulate the charity’s management policy. At the first trustees’ meeting, following the AGM in May, the board of trustees appoints the company officers for the forthcoming year. A company secretary is engaged by the board of trustees to implement agreed management policy and to be responsible for the day to day management of the charity.
The company officers during the year were as follows:
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCORPORATING THE DIRECTORS' REPORT) (CONTINUED)
REFERENCE AND ADMINISTRATIVE DETAILS
| Trustees | Mr J G Brindley |
|---|---|
| Mr S T Hough | |
| Mr A S Haste | |
| Mrs H M Paterson (resigned 9 May 2025) | |
| Mr R S Pattinson | |
| Mr A J Neachell | |
| Mr J Barber | |
| Mr J O'Kell | |
| Mr A J Wilkinson | |
| Mr J R Hall | |
| Mrs A V Morrison (resigned 10 March 2025) | |
| Mr A Price | |
| Mrs L Morgan | |
| Mr O McCann | |
| Mr K Watret (appointed 9 May 2025) | |
| Company Secretary | Mr A Ryder |
| Charity Registration Number | 1108263 |
| Company Registration Number | 01743500 |
| The charity is incorporated in England and | |
| Wales. | |
| Registered Office | Holme House |
| The Dale | |
| Ainstable | |
| Carlisle | |
| CA4 9RH | |
| Independent Examiner | Alison Welton BSc FCA |
| David Allen | |
| Chartered Accountants | |
| Dalmar House | |
| Barras Lane Estate | |
| Dalston | |
| Carlisle | |
| CA5 7NY |
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCORPORATING THE DIRECTORS' REPORT) (CONTINUED)
Bankers
Barclays Bank plc 32 Clarendon Road Watford Hertfordshire WD17 1GT
FINANCIAL INSTRUMENTS
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
The charity’s principal financial assets are bank balances and cash, trade and other receivables. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of The British Blue Cattle Society for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCORPORATING THE DIRECTORS' REPORT) (CONTINUED)
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the trustees of the charity on 8 May 2026 and signed on its behalf by:
......................................... Mr A J Wilkinson Trustee
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRITISH BLUE CATTLE SOCIETY ("THE COMPANY")
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2025, which are set out on pages 9 to 27.
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, I 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 I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those accounting records; or
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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
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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.
...................................... ALISON WELTON BSc FCA Independent Examiner David Allen Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY
8 May 2026
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025 (INCLUDING INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES)
| Total | Total | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | 2025 | 2024 | ||||||
| Note | £ | £ | £ | £ | |||||
| Income from: | |||||||||
| Donations and legacies | 3 | 35,124 | - | 35,124 | 39,373 | ||||
| Other trading activities | 4 | 64,477 | - | 64,477 | 79,960 | ||||
| Investment income | 5 | 7,049 | - | 7,049 | 7,484 | ||||
| Other income | 6 | 24,162 | - | 24,162 | 19,928 | ||||
| Total income Expenditure on: |
130,812 | - | 130,812 | 146,745 | |||||
| Raising funds | 7 | (2,516) | - | (2,516) | (2,010) | ||||
| Charitable activities | 8 | (149,063) | - | (149,063) | (163,303) | ||||
| Total expenditure | (151,579) | - | (151,579) | (165,313) | |||||
| Gains on investment assets | 16 | 25,296 | - | 25,296 | 12,660 | ||||
| Net income/(expenditure) | 4,529 | - | 4,529 | (5,908) | |||||
| Net movement in funds | 4,529 | - | 4,529 | (5,908) | |||||
| Reconciliation of funds | |||||||||
| Total funds brought forward | 313,072 | 2,431 | 315,503 | 321,411 | |||||
| Total funds carried forward | 22 | 317,601 | 2,431 | 320,032 | 315,503 |
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED) (INCLUDING INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES)
| Total | |||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | 2024 | |||||
| Note | £ | £ | £ | ||||
| Income from: | |||||||
| Donations and legacies | 3 | 36,942 | 2,431 | 39,373 | |||
| Other trading activities | 4 | 79,960 | - | 79,960 | |||
| Investment income | 5 | 7,484 | - | 7,484 | |||
| Other income | 6 | 19,928 | - | 19,928 | |||
| Total income | 144,314 | 2,431 | 146,745 | ||||
| Expenditure on: | |||||||
| Raising funds | 7 | (2,010) | - | (2,010) | |||
| Charitable activities | 8 | (163,303) | - | (163,303) | |||
| Total expenditure | (165,313) | - | (165,313) | ||||
| Gains on investment assets | 16 | 12,660 | - | 12,660 | |||
| Net (expenditure)/income | (8,339) | 2,431 | (5,908) | ||||
| Net movement in funds | (8,339) | 2,431 | (5,908) | ||||
| Reconciliation of funds | |||||||
| Total funds brought forward | 321,411 | - | 321,411 | ||||
| Total funds carried forward | 22 | 313,072 | 2,431 | 315,503 |
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET AS AT 31 DECEMBER 2025
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|---|
| Note | £ | £ | |||||||
| Fixed assets | |||||||||
| Tangible assets | 15 | 1,008 | 1,545 | ||||||
| Investments | 16 | 286,358 | 276,530 | ||||||
| 287,366 | 278,075 | ||||||||
| Current assets | |||||||||
| Stocks | 17 | 575 | 638 | ||||||
| Debtors | 18 | 69,042 | 87,902 | ||||||
| Cash at bank and in hand | 14,575 | 7,018 | |||||||
| 84,192 | 95,558 | ||||||||
| Creditors: Amounts | |||||||||
| falling due within one | |||||||||
| year | 19 | (51,526) | (58,130) | ||||||
| Net current assets | 32,666 | 37,428 | |||||||
| Net assets | 320,032 | 315,503 | |||||||
| Funds of the charity: | |||||||||
| Restricted | 2,431 | 2,431 | |||||||
| Unrestricted income | |||||||||
| funds | |||||||||
| Unrestricted | 317,601 | 313,072 | |||||||
| Total funds | 22 | 320,032 | 315,503 |
For the financial year ending 31 December 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET AS AT 31 DECEMBER 2025 (CONTINUED)
The financial statements on pages 9 to 27 were approved by the trustees, and authorised for issue on 8 May 2026 and signed on their behalf by:
......................................... Mr A J Wilkinson Trustee
Registration number: 01743500
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1 CHARITY STATUS
The liability of the members is limited. Every member of the charity undertakes to contribute to the assets of the charity, in the event of the same being wound up while he or she is a member, or within one year after he or she ceases to be a member, for payment of the debts and liabilities of the charity contracted before he or she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributions among themselves, such amount as may be required not exceeding one pound.
The charitable company is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Holme House, The Dale, Ainstable, Carlisle, CA4 9RH.
These financial statements were authorised for issue by the trustees on 8 May 2026.
2 ACCOUNTING POLICIES
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102), Companies Act 2006 and the Charities Act 2011.
Basis of preparation
The British Blue Cattle Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
2 ACCOUNTING POLICIES (CONTINUED)
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Group accounts not prepared
As disclosed within Note 16, the company previously held a 100% holding in Pedigree Livestock Services Limited. In accordance with FRS 102 Paragraph 9.3 the company is exempt from the requirement to prepare consolidated financial statements.
As at 31 December 2025 the company held 0% holding in Pedigree Livestock Services Limited.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations are recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date.
Income received by way of subscriptions are included in the period to which they relate.
Income from other trading activities is recognised when there is evidence of entitlement, receipt is probable and its amount can be measured reliably.
Investment income is recognised when receivable.
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
2 ACCOUNTING POLICIES (CONTINUED)
Other income is recognised when there is evidence of entitlement, receipt is probable and its amount can be measured reliably.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent examination, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class
Asset class Depreciation method and rate Fixtures, Fittings and Equipment 33% straight line Computer Equipment 33% straight line
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
2 ACCOUNTING POLICIES (CONTINUED)
Fixed asset investments
Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Other debtors are measured at their recoverable amounts. Prepayments are calculated as amounts paid during the financial year, but which relate to a future financial period. Accrued income is recognised when the entity is entitled to the income in the financial year, but the receipt does not occur until a future financial year.
Cash and cash equivalents
Cash at bank and in hand comprises all cash held, in bank current and deposit accounts.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accruals are calculated as amounts relating to the financial year, but which are paid after the year end. Deferred income includes amounts received in the financial year for revenue relating to future periods.
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
2 ACCOUNTING POLICIES (CONTINUED)
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Financial instruments
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
3 INCOME FROM DONATIONS AND LEGACIES
| Unrestricted | ||||||
|---|---|---|---|---|---|---|
| Total | Total | |||||
| General | 2025 | 2024 | ||||
| £ | £ | £ | ||||
| Donations and legacies | ||||||
| Donations | - | - | 2,431 | |||
| Tax recoverable on gift aid donations | 4,370 | 4,370 | 4,337 | |||
| Sponsorship | ||||||
| Promotional and sponsorship income | (437) | (437) | 800 | |||
| Subscriptions | 31,191 | 31,191 | 31,805 | |||
| 35,124 | 35,124 | 39,373 |
4 INCOME FROM OTHER TRADING ACTIVITIES
| Unrestricted | |||||||
|---|---|---|---|---|---|---|---|
| Total | Total | ||||||
| General | 2025 | 2024 | |||||
| £ | £ | £ | |||||
| Merchandise | sales | 172 | 172 | 140 | |||
| Registrations | 64,305 | 64,305 | 79,820 | ||||
| 64,477 | 64,477 | 79,960 |
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THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
5 INVESTMENT INCOME
| Unrestricted | ||||||
|---|---|---|---|---|---|---|
| Total | Total | |||||
| General | 2025 | 2024 | ||||
| £ | £ | £ | ||||
| Income from dividends; | ||||||
| Dividends | 7,048 | 7,048 | 7,429 | |||
| Interest receivable and similar income; | ||||||
| Bank interest receivable | 1 | 1 | 55 | |||
| 7,049 | 7,049 | 7,484 | ||||
| 6 OTHER INCOME | ||||||
| Unrestricted | ||||||
| Total | Total | |||||
| General | 2025 | 2024 | ||||
| £ | £ | £ | ||||
| DNA Typing | 2,006 | 2,006 | - | |||
| Late fees 45/90 days | 2,252 | 2,252 | 1,630 | |||
| Auction levy commission | 7,376 | 7,376 | 5,740 | |||
| Income from services provided | 1,401 | 1,401 | 1,468 | |||
| Herd book advertising | 8,902 | 8,902 | 8,940 | |||
| Internet income | 2,225 | 2,225 | 2,150 | |||
| 24,162 | 24,162 | 19,928 |
- 19 -
THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
7 EXPENDITURE ON RAISING FUNDS
A) COSTS OF RAISING FUNDS
| Unrestricted | ||||||
|---|---|---|---|---|---|---|
| funds | Total | Total | ||||
| General | 2025 | 2024 | ||||
| £ | £ | £ | ||||
| Investment management fees | 2,516 | 2,516 | 2,010 | |||
| 2,516 | 2,516 | 2,010 | ||||
| 8 EXPENDITURE ON CHARITABLE ACTIVITIES | ||||||
| Unrestricted | Total | Total | ||||
| General | 2025 | 2024 | ||||
| £ | £ | £ | ||||
| Breed promotion | 28,899 | 28,899 | 31,696 | |||
| Herd book | 6,781 | 6,781 | 10,819 | |||
| Technical development costs | 5,456 | 5,456 | 5,914 | |||
| Support costs | 107,927 | 107,927 | 114,874 | |||
| 149,063 | 149,063 | 163,303 |
- 20 -
THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
9 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS
Support costs allocated to charitable activities
| Support | Support | Support | Support | Total | Total | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| costs | 2025 | 2024 | ||||||||||
| £ | £ | £ | ||||||||||
| Breed promotion | 8,602 | 8,602 | 10,861 | |||||||||
| Herd book | 1,874 | 1,874 | 889 | |||||||||
| Administration costs | 81,998 | 81,998 | 82,923 | |||||||||
| Finance costs | 3,284 | 3,284 | 2,503 | |||||||||
| Governance costs | 905 | 905 | 860 | |||||||||
| Other support costs | 11,264 | 11,264 | 16,838 | |||||||||
| 107,927 | 107,927 | 114,874 | ||||||||||
| GOVERNANCE COSTS | ||||||||||||
| Unrestricted | Total | Total | ||||||||||
| General | 2025 | 2024 | ||||||||||
| £ | £ | £ | ||||||||||
| Independent examiner fees | ||||||||||||
| Examination of the financial statements | 905 | 905 | 860 | |||||||||
| 905 | 905 | 860 | ||||||||||
| 10NET INCOMING/OUTGOING RESOURCES | ||||||||||||
| Net outgoing resources for the year include: | ||||||||||||
| 2025 | 2024 | |||||||||||
| £ | £ | |||||||||||
| Depreciation of fixed assets | 537 | 797 | ||||||||||
| Independent examination fee | 905 | 860 |
- 21 -
THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
11TRUSTEES REMUNERATION AND EXPENSES
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
12STAFF COSTS
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Staff costs during the year were: | ||||
| Wages and salaries | 27,376 | 27,559 | ||
| Social security costs | - | 662 | ||
| Pension costs | 634 | 640 | ||
| 28,010 | 28,861 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year was as follows:
Administrative staff
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| No | No | ||||
| 1 | 1 | ||||
1 (2024 - 1) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £634 (2024 - £640)
No employee received emoluments of more than £60,000 during the year.
13INDEPENDENT EXAMINER'S REMUNERATION
| 2025 | 2024 | ||||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Examination | of | the | financial | statements | 905 | 860 | |
- 22 -
THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
14TAXATION
The charity is a registered charity and is therefore exempt from taxation.
15TANGIBLE FIXED ASSETS
| 15TANGIBLE FIXED ASSETS | ||||||||
|---|---|---|---|---|---|---|---|---|
| Fixtures, | ||||||||
| Fittings and | Computer | |||||||
| Equipment | Equipment | Total | ||||||
| £ | £ | £ | ||||||
| Cost | ||||||||
| At 1 January 2025 | 5,378 | 3,347 | 8,725 | |||||
| At 31 December 2025 | 5,378 | 3,347 | 8,725 | |||||
| Depreciation | ||||||||
| At 1 January 2025 | 3,867 | 3,313 | 7,180 | |||||
| Charge for the year | 503 | 34 | 537 | |||||
| At 31 December 2025 | 4,370 | 3,347 | 7,717 | |||||
| Net book value | ||||||||
| At 31 December 2025 | 1,008 | - | 1,008 | |||||
| At 31 December 2024 | 1,511 | 34 | 1,545 | |||||
| 16FIXED ASSET INVESTMENTS | ||||||||
| 2025 | 2024 | |||||||
| £ | £ | |||||||
| Other investments | 286,358 | 276,530 |
- 23 -
THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
16FIXED ASSET INVESTMENTS (CONTINUED)
OTHER INVESTMENTS
| OTHER INVESTMENTS | |||||
|---|---|---|---|---|---|
| Listed | Unlisted | ||||
| investments | investments | Total | |||
| £ | £ | £ | |||
| Cost or Valuation | |||||
| At 1 January 2025 | 273,630 | 2,900 | 276,530 | ||
| Revaluation | 24,222 | - | 24,222 | ||
| Additions | 769 | 29,342 | 30,111 | ||
| Disposals | (14,936) | (29,569) | (44,505) | ||
| At 31 December 2025 | 283,685 | 2,673 | 286,358 | ||
| Net book value | |||||
| At 31 December 2025 | 283,685 | 2,673 | 286,358 | ||
| At 31 December 2024 | 273,630 | 2,900 | 276,530 |
Valuations are prepared on the basis of the middle market price at the close of business, or are the latest available, on the valuation date.
The total unrealised gain for the year is £24,222 (2024: £12,617) and the total realised gains are £1,074 (2024: realised gains of £43), resulting in a net gain on investments of £25,296 (2024: £12,660).
17STOCK
| 17STOCK | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Stocks | 575 | 638 | ||
| 18DEBTORS | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Trade debtors | 44,191 | 56,172 | ||
| Prepayments and accrued income | 12,387 | 11,666 | ||
| Other debtors | 12,464 | 20,064 | ||
| 69,042 | 87,902 |
- 24 -
THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
19CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 19CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Trade creditors | 3,323 | 6,850 | ||
| VAT liability | 5,187 | 6,009 | ||
| Accruals and deferred income | 43,016 | 45,271 | ||
| 51,526 | 58,130 | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Deferred income at 1 January 2025 | 32,035 | 32,650 | ||
| Resources deferred in the period | 31,480 | 32,035 | ||
| Amounts released from previous periods | (32,035) | (32,650) | ||
| Deferred income at year end | 31,480 | 32,035 |
Included within accruals and deferred income is deferred income amounting to £31,480 (2024: £32,035). These are membership subscriptions relating to the following year.
20OBLIGATIONS UNDER LEASES AND HIRE PURCHASE CONTRACTS
OPERATING LEASE COMMITMENTS
At 31 December 2025, the total of the company's future minimum lease payments under non-cancellable operating leases were as follows:
| non-cancellable operating leases were as follows: | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Within one year | 858 | 858 | ||
| Between one and five years | 214 | 1,072 | ||
| 1,072 | 1,930 |
The total operating lease payments recognised as an expense was £858 in the year ended 31 December 2025 (2024: £858).
- 25 -
THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
21DEFINED CONTRIBUTION PLANS
The amount recognised in the Statement of Financial Activities as an expense in relation to defined contribution plans was £634 (2024: £640).
22FUNDS
| 22FUNDS | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at | ||||||||||||||
| Balance | at | Other | 31 | |||||||||||
| 1 January | recognised | December | ||||||||||||
| 2025 | Income | Expenditure gains/(losses) |
2025 | |||||||||||
| £ | £ | £ | £ | £ | ||||||||||
| Unrestricted | ||||||||||||||
| General | 313,072 | 130,812 | (151,579) | 25,296 | 317,601 | |||||||||
| Restricted | ||||||||||||||
| Welsh Club | 2,431 | - | - | - | 2,431 | |||||||||
| Total funds | 315,503 | 130,812 | (151,579) | 25,296 | 320,032 | |||||||||
| Balance at | ||||||||||||||
| Balance at | Other | 31 | ||||||||||||
| **1 ** | January | recognised | December | |||||||||||
| 2024 | Income | Expenditure gains/(losses) 2024 |
||||||||||||
| £ | £ | £ | £ | £ | ||||||||||
| Unrestricted funds | ||||||||||||||
| General | 321,411 | 144,314 | (165,313) | 12,660 | 313,072 | |||||||||
| Restricted | ||||||||||||||
| Welsh Club | - | 2,431 | - | - | 2,431 | |||||||||
| Total funds | 321,411 | 146,745 | (165,313) | 12,660 | 315,503 |
- 26 -
THE BRITISH BLUE CATTLE SOCIETY
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)
23ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Total funds | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | at 31 | |||||
| funds | Restricted | December | ||||
| General | funds | 2025 | ||||
| £ | £ | £ | ||||
| Tangible fixed assets | 1,008 | - | 1,008 | |||
| Fixed asset investments | 286,358 | - | 286,358 | |||
| Current assets | 81,761 | 2,431 | 84,192 | |||
| Current liabilities | (51,526) | - | (51,526) | |||
| Total net assets | 317,601 | 2,431 | 320,032 | |||
| Total funds | ||||||
| Unrestricted | at 31 | |||||
| funds | Restricted | December | ||||
| General | funds | 2024 | ||||
| £ | £ | £ | ||||
| Tangible fixed assets | 1,545 | - | 1,545 | |||
| Fixed asset investments | 276,530 | - | 276,530 | |||
| Current assets | 93,127 | 2,431 | 95,558 | |||
| Current liabilities | (58,130) | - | (58,130) | |||
| Total net assets | 313,072 | 2,431 | 315,503 |
24RELATED PARTY TRANSACTIONS
Mr A Ryder was provided with a short term loan for office improvements. At the balance sheet date the amount due from Mr A Ryder was £8,201 (2024: £9,445)
Mr A Ryder also owed the charity £Nil (2024: £756) at the balance sheet date relating to costs incurred during the year.
The premises that the charity operates from are owned by Mr A Ryder. A commercial rent of £7,200 (2024: £7,200) is paid for the use of these premises.
As of 1 January 2025, Mr A Ryder had control of the company Pedigree Livestock Services Limited. During the year there has been £52,552 recharged from Pedigree Livestock Services Limited to The British Blue Cattle Society.
- 27 -