RECLSTERED COMPLNY NUMBER: •1892441 (Engl&lld and Wales) REGtSTERED CHARrrY YUMBER: 1115115 unaw411t￿ F￿d￿stateMellts for theYe￿rE￿￿1 31 Dwtmber 202(1 (A Compauy Limited by Guarantre) Tweedside Pa Galashiels TDI iTE **Salers Cattle Society of the UK Limited** ## **Contents of the Financial Statements for the Year Ended 31 December 2020** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|3| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Balance Sheet**|6|to|7| |**Notes to the Financial Statements**|8|to|14| Report of the Trnsteu for the Year Ended 311)ecember 202• the financial stai¢mcllts of the clwity for the year ¢tvJed 31 D¢c¢tnber 2020. The have wjoptcd the provisÉons of AccouDting alld RerA>rtiDg by Ctwitits: stat￿￿¢￿¢ of Rewn￿￿T￿1¢d Pwtice applithl¢ to ctwiti¢s prepaTiug the a¢¢ounts its atcord2ttce with the FiJTrancJal Re[￿n8 sta￿ appbthk in the UK and Republic of Irel&lld {FRS 102) (effective l January 2019). Objective5 alld aiths The ChariW5 obj¢rtiV¢S 3re pronNYion of agnelliture by m8nagemeDL promollon aod the improvement of the br¢ding of the S8]ets b￿1 of liveStr￿k and the maintetL8nC¢ of purity of the breed and in coTrllection tberewith Ibut without Ittnitationl to conwil¢ keep. rnai¥rtain, ediL is5u¢ publish a He￿ B(x)k of rcogni5¢d and puJr-bJEd S31¢r5 attl¢ aEJd a re￿$￿ or rewsters supplemenw thereto of otlKr rwis&J apd qualified (7tt]¢ for br¢ding purp05¢5. As p*t of this the eharity PTovid¢s ¢(h￿￿tion atmt dirwtion to (*ti¢ fa[[￿15 to itnprov¢ theii W health. and ¥hi¢v¢ blic bellefit The chatity is a public bEnefit etitity. ACHIEVEMEwf AT4D PERFORMANCE The CbaTity its ollgoillg effo@ rnenlioTb>J ai¥)ve. the Sala5 In pjaulling its activities for the yvdr, thc MemF*rs Cowxil ba5 c￿￿id￿VI the ComTDi&8ioll5 gvidatKe lyn public FKnefiL The on.goi￿8 Covxd 19 pattdemic Ès JB]pactsng on the abjlity to thlÈver Some of the C[￿lta1￿C activitie5 and fund.rdi5iDg. Most will r&8ume when e&5ing of re5triction5 allow. The ￿15￿ of the organisatiOD minimal and while th¢ ￿Lcome will . 50 will the eXr￿lt￿￿. It is Ulltikely that Covid 19 will bave a lollg-temi iti¥Act i)u the fillances of the Society. In F*rticular, wheTh setting member5bip aud re￿ the following bave been consideraL. l. In ligbt of COVllk19 mti1ia attd online metFI￿8 and aL￿tIo0$ have been al￿ will ¢on¢irtue to be dopted and utilised in p]ace of &8 well as to ewp11￿ sknw sale aatvities to the beDefii AU members all ar¢as through¢)vt th¢ Unitd Kingd￿. ood. NANc￿L REv￿w The Council of the Society prewes an budget fot the coEDiDg year eAth January. and th¢ perfo￿llance a8aitJst this 18 review&l at Council meettngs Iheld approxim*ly qurnty}. The final financ￿1 results are circulated to ail members present by ￿t. The Trcasurevs reith is presentrd at the Annual General Meeting for Ltist5tsSiO To provide for the eonttnuiry of activtty in the eveni of Tthced income ftom membejs, the co￿￿11 ]Jag establish￿ policy of Thaintaining a Tes¢￿ of£25.(XX> andthe alllluaj b￿get wificatly 5¢ts outto PT¢S¢TV¢ this. The &*iety hadaSurpl￿S forthe year of £162AI12019 Ikficit_ £230) The &Kiety had rcserve5 atthe year￿￿ of £IiKIJ03 12019- £84.013) SAltrs C*tiit Sotidy •Cthe UKLimited Rcportof th¢ TThste¢s ror tbe Year Ended 31 Dt£tADl*r 202• STRUCTURE GOVERNANCE AND MAf4AGEMENT The c]Jarity is a chaTÉtable company limited by guaThntrq aDd w&s set up on the 19th Julle 1985 al￿ wa5 gr￿rted clwitsble ststus on 5thJuiy 2¢Mkn. It is 8ovemol bYaMeM￿th and arficlts of &*Kiatso The Sa]eTS Cattle kniety is governed by a VotE￿I￿ry Couocil Comprising TepTCS¢ntative5. elected by the m¢mbets wtthiD the regioA% and 21so members ttrqKed by the Cotmcil. The C(v]n¢il filling the four exttutive [￿)SitIOnS of PresidenL Cbwr, Vice Chair and Treagjrer are d&facto and directots of the Socidy, with additional The n￿MberS of the Meml*ts of the Cth]DtiL 7kn N¢ akn th¢ dttwFot5 lor the of CoM￿Y law. a]Jd who Mr An¢Jr¢w Powell MT5 Kath Live5ey MrAlan Howatsoll Mr T W Walling MrTJDPye MrA A Sleigh None of the m¢mt)ers of the Members of the CCHll￿il ally kneficial inteTest in the comp￿tY. Alt of the metnbers of the Menkn of t￿ Council ore members of th¢ cornpany and gwrantre kn COQtribu* £1 in th¢ ev¢Dt of winding up. The Mejjthtts of tbeCJJarity are ￿TUl￿db3Sal￿I thcquwlitiGs ljy (b￿]aY andthttr televatrtexperienco The Council T[￿ets qu8rteTiy inch]ding the AGM. BetDg aW￿e of their se$￿￿tb]I1ties they are in regut3r tollsulixtion wlth the secTetsry, Sian R Shaw. to Trview fiDaDcial and oversee th¢ g¢ttta] administt3tion of the eharity. A diRd line of ¢tsH]munirdiion i5 kryt open to the ad[DU￿on office to efficiart runniD8 ofthe charity. ar¢ IA plg¢e to mitigat¢ CXP)5we to maiorrisL REFERENCE AND ADMINISTRATIVE DETAItS Rwgtered Company number 01892440 (Englalld ￿ Waksl Registered Charlty DUDII e Famj Cr(K)klands Milnethorpe LA7 7NH RN Ltvesey Ircsigned 20.1120) Mr5 K M Livesey Treasurer A Howats<>n T W Walling P￿sident T J D Pye Past PrEsid¢nt A A Sleigh Chatr A Powell Vi¢e Clxair{appointed 20.11.201 Report•fthe Trystres f•r the Yelr Ended 31 Detember 21120 Illdeptttd￿t E￿MIller A]isott Harold ICAS Gall Robertson CA Tweedside P8rk Tweedbank G8]ashi¢15 Selkitkshire TDI 3TE ApprOv￿j by OTderof i￿￿[d￿f tnts*es4M..... signedon its by. ailing- Tnjstte Imdependenl Examlner's Rtport the Trustres or Sakrs Cattle tsftht UK Iirnited l))depeMdellt eiather's report to the tru¥tea of Skn Cath Soattyof the IJKIAmltrd Cth¢ Comp*Dy'} I report io the charity trustees OD my examiDatioD of the acLwts of the Company for theyearended JI Detembet 2020. Responsibilities basls of report As the charitYs u￿te¢S of the ComrAny larhj a150 its dirtst￿5 1(Y th¢ purp￿￿ of co[D￿Y lawl you rw)nsible for the preparation of the accounts in ￿(Ordance￿Ath th¢ ryu]￿ts of th¢ Co]Dpaui¢5 Act2￿ IYh¢ 21K)6 A¢n. Ha￿￿n8 satisfied myself that the accounts of the CoTnpJTry Jr¢ not rwitr¢d to b¢ audit&l under Part 16 of th 2(￿ Act and are eligible for ithJependet)t examinati￿ I reFffj in re$￿t of my examination of your Ch￿￿￿8 accounts os carried out under seeti4m 145 of the Charities Affl 2011 Cthe 2011 Acff). ID (aryitkg out my exaMin￿Oll I ha￿ followed the Directions given by the Chatity COIn￿l$s1￿ undcr strtion 145(5) (b) of the 2011 ALt IndepeDdeEtvamiDer $ strte￿￿1¢ I have comple*d my examittaiioll. I coofirni that have come th my attention in com)ettiott with th¢ exa￿l￿tiO￿ givillg me cause to klieve: a¢¢ountillg te¢otds wexe tkot k¢pt iti re￿￿ of the C(￿￿Y as rwjirnl by srftion 386 of the 2(KJ6 ACL or the ac¢owts do llot a¢cord with those re£ord&" or the accounts do not compfy with the accounting fEqUifErnents of Section 396 of the 21x16 Act other th8JJ ally uiremeni th* the give a tNe and view which is not a ojatter considtt￿ &8 pfft of an indep]dent e￿Ination.. or the accounts have not been ￿¢pa￿d ill acco￿ with the tDeth(ML5 a￿1 principle5 of the Ststement of R￿OI[1[￿ended Pradic¢ for accouDbng aud ryrtiDg by ctwi"tie5 (applicable u) charities p[Wi￿ their acconlauce with the F[[￿18[ Rqmm Statthrd ar4JliLxIAe in the UK and R¢pubtic of Irel8nd tFRS 102}1 I have no concerns aThJ hav¢ corne other rnatters Con￿￿70n with the to which attr¢nti(H) should Aii50D Harold ICAS Gail ROb￿n CA Tweedside Park Tweedbank Galashi¢ls Seikirkshire TDI 3TE Date.. 26th ALJgust 2021 Slxtemtst ofFin*ntial AcllTAtles for the YeAr EDded 31 Detethber 202• 31.12.20 Untr5tricted 31.12.19 Total INCOME AND ENDOWMENTS FROM DollatioBs and leg8cies 15.103 IA298 Charit*ble aclfvlde8 Br¢¢d prornoti¢)Th 74207 70.332 Other tradittg activities Investment incoTn 14.405 458 1fi478 619 Tot•1 104,173 103,727 EXPENDrruRE ON 17,483 17239 Ckaritable gcthities Office and supw)rt costs Brttd promotiojj 33.354 36,431 33.896 55,864 T•tsl 87268 10&999 Nd gaIT￿{lo55¢sI on inveslrnents {615) 3.042 NET ]NCOTrtFJ(EXPEIYDrfuRE) I62￿) 1230) RECONCILIATION OF FUNDS T•tal funds brnughtfonvanl 84.013 84,243 TOTAL rns CARRIED FORWARD I(KJ.303 84,013 CxltkS•¢ltty ofthe UK Uwited Blknce Sheet 31 Decejnber 2t)211 31.12_20 31.12.19 Total funds Note5 FIXED ASSETS Tangibl¢ assets Irtvesttnents 1,766 30.945 31271 31711 31271 CURRENf ASSETS Str￿ks DebToT5 io 2,711 13.534 379 63.793 756 9,498 346 52208 Cash at bankatrl in Iwkl 80,417 62.808 Amounts falljngdue withiti one year 12 (10.498) 17.661) NET CURREKf ASSETS 69,919 55.147 TOTAL ASSETS LFSS CUBREKr LIABILITIES 101630 86.418 ACCRUAIS AND DEFERRED INCOME 13 {2J27) 12.405) E4ET ASSETS I(K).303 84,013 Fuf4DS 14 IIKb,303 84,013 TOTAL FUNDS I￿.303 84.013 The clwitrble COTnpany is emit1￿ ￿ exen4)I￿ ftorn audit Section 477 of the CoM￿nieS Act 2¢M)6 for th¢ year ended 31 2020. 31 DerrmbEr2020 itt xcordance wrth Sth 476 C*ftheC￿r￿￿les Act 2ntinue. Income All income is reco8tiisui the Strt¢tn¢Ert of Finaucial Activities once the c]wity eotitietnent to the fiJlld& it l5 prob4bl¢ that the income willbe rttei¥ed athl be reliably. EiptnditsEr¢ Liabilities •e ￿O￿Lse11 as ￿T￿lI￿lIE &5 s￿n there is a lega] or ti)]Wr￿ d)]igation committing the charity to that eXFnd1tu￿, it i5 probable that a tswLsfer of economic I￿tfits will be required in selllement artd the of the obligation can k rrLwJrd r¢Jiably. EX￿￿1th1[e ts actountal for on aD accruals basis and has been classifi¢d und¢T headings that aggrega* all eom rela*d ￿ the Ixtegory. Where costs I￿01 ￿ ¢J]￿cl[Y attribuied [Art￿￿ar h￿a￿tS thty have aIkK*￿ to ￿1vItieS coN%i5t¢rt with the wc of resourees. Tanglblt frxtd *&*tts Dq)r￿IatiOn is provKkd at the following aoau81 itt (Kd¢r to ￿11¢ off e4ch asset over its ¢stirn￿ useful life. Plantgnd machinery Compth equipment 250kn on t Tangible assets are ioitsal]y tecoTded at co4 and are th•iy ststal at C05t l¢ss any accumul81&1 dq￿¢¢l￿ttoD and in1p￿ent losse& kny ia]]sibl¢ Is￿E5 {wri￿ at rtv8lued Are r¢corded at the fair Yah￿ at the date of revalu*ioD Itss atsy subsequtht at£wnuJatcd depreciation &Dd sllbseou¢nt accumulated itnpairtnetEt 105se5. Ir there is art indicAtion that therr h35 been a significatli Change in thpjyciation ratr. uscfijl life orresidual va1ueoftsn￿ljle &s%d5. the is Tewsal pros￿tiVe]Y torefl¢ct the new estIn￿. An increasc in thc earrytttg atnount of an Ls a result of o revaluation. Is ￿￿￿[Sed in ijther rA)mpTeh¢nsive income and accU]n￿at￿l capttaj aThl T¢S¢Tve4 excq)t ￿ the extent it reveTS¢5 a revaluation decrease of the same a58ei previously r￿0g￿￿ed in profit OT 1055. A d¢¢T¢￿ in the carying amount of an a55rt as resuli or aluation i5 ￿Qgnised lll other eomprekn.ve income to the rKtfflt of w previoLLsly reco¥tiised maluation in¢rease #ecumuiated ill ￿p1th1 atul teserves in rryi of that awl tevaluallon decrew eKc¢eth the ¢cUM￿lat￿ reV￿uatIon gdtns ￿llIated in (apilal and of that &8K the exte$$ shall bE recogtkised in profftork>ks. A revÈ¢w for indicato￿ of iTrwairrnart 15 caTried out at each re￿rtIng dat< with (be recoverable amowjt being estiroatrd where s￿￿ Inth"cat￿ ¢xisL Where (¥Trying Val￿ exce&ts th¢ mV¢Fable amouttt, the asset is Wher it is not po&%ible to e5tirnate the r¢￿Vernbk amo¥Jni of an individua] asse4 an e5tED￿te i5 madc of the recoverabl¢ amount of the ¢ash*eneratin8 1]JJit to vknicb belon￿ The c4sh-geiiErating unit is the small¢st iLkntifiable grow) of a&s¢ts Inch￿ the asset alld gen¢ra*s Lx%h i]Jfiows th&t 4r¢ largely SAienCaillt Sotiety of the UK Lintited Notes ¢0 (he Stxtfn¥¢nts.er•ttthiutd tor the Year Ended 31 D¢¢¢mber 2020 ACCOIJNTING POiJCIFS-toDIi4NQAI Stocks Stocks are v8lued at thc lowcr of cost and txt re41isable valu4 t￿Ikt￿8 duE allowan￿ for ¢A)solete and slow Trx>wng iteTn5. T￿tio￿ Vuod Re8tsided futtds cath on]y k u*d for pkneuiar te5tsicted PWKhse5 within the obje¢ts ofthe cknsty. Restrictiojjs If appIl￿bk, further exp]aD&M>n of the putFth¢ ofexb fjjrtsl is included in the ￿t£s to the finwial statemen¢& The ¢harttable ¢omparty a ¢kfin￿ ¢ontrilx]tion pa￿lOn schem& C4)nffibutions payable to the charitable COtnpanl5 peTEStim schetlle are Cl￿￿1 to the Ststement of Fi[￿￿￿1 ActiNities iti the perithl to which they r¢l&t. PrvvisiOll$ Provision5 are recwised when thc cnrity b&8 an oblt8atiott * the twting dat as a result of a past evettt" it is pmbAble that th¢ ffljtity wtll be Tcqui¥rd to tra￿fer ecoDomic F*nefits in settlement aTwJ the atnount of the obligatt.en c*) be estit)JatèJ reliably. Provisiort8 atE as g liability in the statemetst of po5ity)n Provisions are itiitiaily mcaw￿j at th¢ be51 ¢stiuJ* of the amount rwired to s¢lll¢ the obligotiott at the reporting date attd subsequettt]y eatb ryEttttg date llDd ￿ill5t¢d to retlect the currellt bESt estirnate of the aT]KM￿t that would b¢ rwired to 5etUe th¢ obligdttoft. kny adJ￿*t[n￿￿ts to the amounts previously r¢cogniseit are Tecogntsed in profil or loss unle&8 the provis[0￿ originally recogoiscd a5 Part of the cost of an asseL When a provi8iott is meaguffd at the prs¢nt va]ue of the amotmt expthl to to settle the obl1w1￿ the uTrwiDdiD8 of the (bscourtlsffecoEtiis￿ itt fit*nteeosts ID pThbfit or lo￿ inthe rrtriod itarises. OTHER ThADING ACTtVlTIES 31.1120 31.12.19 DNA ksi kiLS Merchandise 13,556 16.333 145 14.405 16.478 31.1220 31.12.19 Investm¢rtl Inkni ￿elY3b]e- trnditig 415 43 528 91 458 619 Sth CattleSoti&y Dfthe UK JAwJknl Notts ts the Fman¢lal St*tethents-e•ntiDued for the Ytsr Ewled 31 Decgmber 21120 31.1220 31.12.19 Porttojio maoagement 127 129 r4ET INCOMEJIEXPEIYDrruRE) Net 1ticomellex￿Kjll￿reI 15 5takd after cb8rginW(ueditin8): 31.1220 31.12.19 367 563 ended 31 D¢c¢mb¢r 2019. Trustees, expens The followitig trLL*¢S w¢rr FYi(I trnvcl expa￿sd￿t￿g the 2 ye&ts entsl 31# tkraDE¢r2020.. R N Livesey T W Walling TJDPye £ NIL 12019_ £1￿.(￿>) £ NIL 12019- £235.97) £ NIL 12019- £142.50) STAFF COSTS Th¢ avew¢ IT￿thty numknof cmpknyctsdwing the year wa8 &8 follows: 31.1220 31.12.19 No employffs ￿¢¢7Y￿a￿lun]￿Its in excGss of £fA>.(m. Page io Saltrs Catde Sotldy of tht UK liThit¢d Notes to the FI￿1￿¢1￿1 StsÉemMts. eontiBued for tbe Ye*r ERded 31 December 2112• COST At l January 2￿20 Additio 5257 7.717 633 12,974 2,133 At 31 D¢ccmlxr 2020 6.757 8.350 15.107 DEPRECIATION At l January 2020 cha￿ foryegr 5257 314 7.717 53 12.974 367 At 31 DecemkKr2020 5.571 7.770 13341 NET BOOK VALU At 31 Dttembtr2020 1.186 580 1,766 Ai 31 De¢¢nJber2019 invcstments At l January 2020 Additions R¢v8JuatioL% 31271 289 (6151 At 31 December 2020 30.945 NET BOOK VALUE Ai 31 December 2020 30.945 At JI D¢c¢mb¢r 2019 31271 All irtve5¢mEnts wre initially r¢coTded at c￿1 revaluul to ￿ va]ue with arMI IosBes rttwised in the statement of fil￿￿la1 ￿EY1￿&%. 10. STOCILS 31.1220 31.12.19 Stocks 2.711 756 liot¢5 t• the Fln•nelal St*ternellts- tontinued for the Year Ended 31 December2020 11. DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 31.12.20 31.12.19 TTath d¢bto 13.534 9.498 IL CREDrroRS: AMouNfs FALLING DUE wrnllN ONE YEAR 31.1220 31.12.19 5.741 919 1.408 1721 1,145 2,387 Trade ¢reditOT5 S￿l41 s¢curity and othestaxes VAT 3,838 10.498 7.661 13. ACCRUAtS AND DEFERRED LNCOME 31.12.20 31.12.19 1327 1405 14. At 31.12.20 Atl.1.20 brtrestrrrted fund5 84.013 I62￿) I(K>J03 TOTAL FUNDS 84.013 1629) l(K)J03 General thd I￿.173 (87268) {615) 16290 TOTAL FUNDS 104.173 (87268) {615) 16290 Page E2 Iyotes to the Fiuntlal Ststements- continued for the Year ERd¢d 31 D￿ember 2020 14. CompvAd¥es for movement N¢t At 31.12.19 Atl.1.19 UDrestiieted G¢Twal fiu 84243 1230) 84.013 TOTAL FUNDS 84243 1230) 84,013 and Movtrneot fimds 103,727 (1￿.999) 3,042 (2301 TOTAL FUNDS 103.727 (1¢kn.9W) 3.042 (2301 At 31.12.20 At 1.1.19 General fi]nd 84243 I￿1)03 TOTAL FUNDS 84243 I￿,303 A year 12 arwj prior yw 12 nM)nttL8 cffjmbinoj net ￿m)Vern￿￿ ill fuDds. inclytsj in the above are as follows: Incoming ReSoU￿e3 GaiD5 aTrJ Movfflllent General fimd 207.￿} (194267) 2.427 16. TOTAL FUNDS 207.gyj (194267) 2.427 16,IXS0 Page 13 Notes to the Flnanehl Ststcments- contiTÈueil ror Ihe Y￿r EkndEd 31 DereJDlxr2112• Is. EMPLOYEE BENEDIT OBLIGATIONS DuriDg the yc4r£8k8.32 {2019. £7rf1.46)olcllwloya5 Contraw￿wac p RELATED PARTY DISCIA)SURES The CF&Tity paid Gall RoEertson CA £rAKI12019 . £[￿ l) for the Irthpethi Ex1th]￿ll ofthe ar￿￿￿*s. .Gall Rot*rtsott CA a]so tc£eiYal £130 for50Po¥are wJp)rt atsd thi￿(2019.￿55). 17. ULTIMATE COfffliOILP4G PARTY GOING CONCKRN The trust¢&% k￿Wor un¢¢na￿tieS tE]attDg to the ch￿IS ability 10 ¢Olltinue as a going thn¢ern. Page 14