REGISTERED COMPANY NUMBEIL. 01892440 (England alld Wal¢s) REGISTERED CHARITY NUMBER: 1115115 Report of the Trustees and Unaudited FillatteiAI Statemellts for the Year Ended 31 De¢ewber 2024 for Salers Cattle Society of the UK Llmked (A Compatty Limited by Guarantee) Gall Robertson CA Tweedside Park Tweedbank Galashiels Selkirkshire TDI 3TE
Salers Cattle Soclety of the UK Limited Contsnts of Ihe Fillancial Ststements for th¢ Year Ended 31 December 2024 Page . Report of the Trustees ' Indep¢ndent Examiner's Report Statement of Finanelal Activities Balance Sheet Notes to th¢ Fin#nelal StAtements 9 to 16 Delailed Statement of Flnancial Activities 17 to 18
Salers Cattle So¢i¢ty of the UK Llmited Report of the Trustees for the Year Ended 31 December 2024 FINANCIAL REVIEW The Council of the Society prepares an annual financial budget for the coming year each January, and th¢ perforniance against this is reviewed at Council meetings (held approximately quarterly). The final fukcIaL results are circulated to all members preseni by post. The Treasur&s report is psented at the Annual General Meeting for discussion by membern present The Council has ffviewed the potential risks for which the Society may be liable. The principal Cover against these is provided by an insurance policy with Zurich Insuran¢¢ Company Limited Poli Number: FRJ10001980125, the lernis of which are reviewed annually by the Council. To provide for the continuity of activity in the event of reduced income from membet3 the Council has established a policy of mainlaining a reserve of £25,0(X) and the annual budget specifically sets Out to preserve this. The Society had a deficit for the year of £8,761 (2023 Deficit- £15,994) The Society had reserves at the year-end of £76,300 (2023 - £83,771) FUTURE PLANS Building on the momenttmi of the past year, Ihe Sal¢rs Cattle Society is committed to further advancing the breed and supporting the wider alCultural community through tsrgeted development in the following are&8.' andin Bree tion and Pu ement We will continue to strengthen the Society's presence at key agricultural shows and events across the UK, ensurffing the Salers breed is well-represented and accessible to both fanning and non-farniing audiences. Emphasis will be placed on engaging the next generation of fanners, consume, and rural advocates by offering interac¢iv¢, educational conEnt about the sale breed and its role in sustainable beef produrtion. 2. Enhanci er ort rov A core focus will be the expansion of breed UCatIon initiatives, including workshops, breed evaluation4 herd health plannin& and support for ihose participating in CHeCS-accredited herd health schemes. in municatio To improve accessibility and outreach, we plan to refresh our digffttal platfornis, and social media presence. This will support both existing membeEs and potential new entrants by providing up-to-date breed resources, market insights, and event inforniation, while also enhancing the public profile of Sal¢rs cattle. ortin d Success fftculture We will explore opportunities to pather with agrlcultural ¢ollege4 young fann¢T groups, and wrdl youth initiatives to encourage involvement with the Salers breed. Providing bursaries, wotk experience placements, or educational materials will be conSided as part of our long-terni support for industy succession. tren ocie d Breed Benc The Society will continue to develop its pedigree sales a8 key commeIal and social events, aiming to increase entry numbers, promote breed standard& and provide benchmatking opportunities for breeders. These sales play a vital role in the economi¢ sustainability and Gommunity cohesion of the trK Salers network. Through ihese futttre activities, the Society will remain focused on secuiyng the long-tenn success of the breel while contributing tr) the vitality and visibility of British agrfftculture more broodly. Page 2
Salers Cattle Society of Ihe UK Limited Report of the Trustees for the Year Ended 31 December 2024 STRUCTURE, GOVERNANCE ATrID MATrIAGEMENT The charity is a charitable company limkted by guarantee, and was set up on the 19th June 1985 and was granted charitable slalus on 5th July 2006. It is governed by a meM0ThduM and articles of association. The Saiers Cattle Society is governed by a voluntary Council comprising repres¢ntstives, elected by th¢ members within th¢ regions and also members ¢o-opted by the Council. The Council members filling the four executive positions of President, Chair, Vice Chair and Treasurer are de-facto InteeS and ditorS of the Society. with additional trusteeldirectors appoinied by the council. The members of the Members of the Council, who are also the directors for the puryoses of company law, and who served durtsng the year were: MrMDFPye MrA J Howatson Mr T W Walling MrA A Sleigh Mr G A Jones None of the members of the Members of the Council has any beneficial interest in the company. All of the members of the Members of the Council are member5 of the company and guarantee to contribule £1 in the event of winding up. The Members of the Charity are recruited based on the qualities they display and iheir ]evartt experience. The Council meets quarterly including the AGM. Being aware of their responsibilities they are in Tegular consultation with the secretary, Miss Emily Simpson, to review financial matters and to oversee the generdl administration of the harity. A direct line of ¢ommunication is kept open to the administration office to ensure the eificient running of the ¢harity. The Member5 of the Council have assessed the major risks to which the society is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 01892440 (England and Wales) Reglstered Charity number 1115115 Regtstered office Lane Farni Crooklands Milnthorpe LA7 TNH Trustees Mr8 K M Lives¢y Tr¢&surer (appointed 7.5.25) A Howatson Treasurer (resigned 7.5.25) T W Walling Vi¢¢ Chairnian TJDPye A A Sleigh President G A Jones Chairman (resigned l.11.24) M D F Pye Chairman Page 3
Salers Cattl So¢i¢ty of th¢ UKLimlted Rtpért of the Ttuste foy the Ye8r Ended 31 Dt¢e•br 2024 . .KEFXXENCE ANP ADhllEqISTRATIVX DETAtLS '.thd¢peudegtEMmiuér . Sh¢ila lknbtt#s¢)n Gall Rob¢rtSon CA . Approved by order of the bo&d s 26 Au8ull 202 . SIgd on its beboIfby'. M D F PYe- TFUStee
Indepelldellt Examiner's Report lo the Trustees of Sglers Cattle Society of the UK Limited Independent examiner's report to the trustees of Salers Cattle Society of the UK Llmlted ('the Compally,) I report to the charity tnjstees on my examination of ihe accounts of the Company for the year ended 31 December 2024. Responslbilities and basis of report As the charity's ttvstees 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 thai 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 r¢port in respect of my examination of your charity's accounts as carried out under Section 145 of th¢ Charities Act 2011 Cthe 2011 Act,). In ¢arrying out my examination I hav¢ followed the Direclions given by ihe Charity Commission under Section 145(5) (b) ofthe 2011 Act. Independent eramlner's stalement I have completed my examination. I confirn that no matter5 have come to my attention in connethion with the examination gkving me Cause to believe: accountlng records w¢re not kept in respect of the Company as required by Section 386 of the 2006 ACL or the accounls do not accord with thos¢ records; or the accounts do not comply with the accounting requirements of Seclion 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 Éhe accounts have not been prepared in accordance with the methods and principle5 of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing iheir accounts in accordance with the Financial Reporting Standard appltcable in the UK and Republi¢ of Ireland (FRS 102)). I have no Concerns and have me across no other matters in connertion with the examinat&on to which attention sbould be drnwn in this report in ord¢T to enable a proper understanding ofthe ac¢ounts to be Thed, Shella Robertson. Gall RobertsoTh CA Tweedside Park Tweedbank Galashiels Selkirkshire TDI 3TE 26 August 2025 Page 5
Salers Cattle Society of the UK Limited Statement of Financial Aetivfities for the Year Ended 31 Deeember 2024 31.12.24 Unrestricted fijnd 31.12.23 Total funds Notes IIYCOME AND ENDOWMENTS FROM Donations and legacies 14,594 15,986 Charitable aetivilles Breed promotion 60,564 63,101 Other trading activities Inv¢sthient income 6,425 1,289 7,050 1237 Total 81872 87,374 EXPEf4DITURE ON Raising funds 6,415 10.919 Charitable actlvltles Fundraising trading costs Office and Support sts B¢d promotion 911 9.006 75,300 48,077 Totsl 91,632 103,368 Net gains on investments 1,289 1,681 NET INCOMEI(EXPENDITURK) (7,471) (14,313) RECONCILIATION OF FUNDS Total funds brougFLt forward 83,771 98,084 TOTAL FUNDS CARRIED FORWARD 76,300 83,771 Th¢ notes forni part of these financial statements Page 6
S#lers CAttle Society of the UK Limited Balance Sheet 31 December 2024 31.12.24 Unrestricted fund 31.12.23 Total funds Notes FIXED ASSETS Tangible assets Investmenls 322 34,562 786 32,650 io 34,884 33,436 CURRENT ASSETS Stocks Debto Prepayments and accrned income Cash at baT]k and in hand li 12 405 22,083 516 27,241 16,290 491 38,485 50,245 55,266 CREDITORS Amounts falling due within one year 13 (7,544) (3,043) NET CURRENT ASSETS 42,701 52,223 TOTAL ASSETS LESS CURREIYT LL4BILITIES 77,585 85,659 ACCRUALS Af4D DEFERRED INCOME 15 (1,285) (1,888) NET ASSETS 76,300 83,771 FUNDS Unrestricted funds 16 76,300 83,771 TOTAL FUNDS 76,300 83,771 The clwitable ¢ompaThy is entitled to exemption from audit under Section 477 of the Companies A¢t 2006 for the year ended 31 December 2024. The members have not required the company to obtain an audit of its financial statem¢nts for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006, The trnstees a¢knowledge thetr responsibilities for (a) ensuTing that the charitabl¢ company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and prepaTing financial statements which give a true and fair view of the state of affaiTS of the charitable company &% at the end of each finan¢ial year and of its SUry)lus or deficii for each financial year in accordance with the requirements of Se¢tions 394 and 395 and which otherwise ¢omply with the requ1ments of the Componies Act 2006 relating to financial statements, so far &8 applicable to th¢ charitable company. The noles forni part of these finan¢iai st&temenls Page 7 continued...
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Salers Cattle Soclety of the UK Limlted Iyotes to the Finaneial Statements for the Year Ended 31 December 2024 ACCOUNTING POLICIES Basis of preparlng the fmanelal statsments The fman¢ial statements of the chalitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'A¢counting and Reporting by ChitIes. Statement of Recommended PYa¢tice appIlble to charities preparing their accounts in accordan¢¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in ihe UK and R¢public of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cosl convent10 with the exception of investments which are included at Maet value, as modified by ihe revaluation of certain assets. The accounts are prepared on a going concern basis. There are no material uncertainties about the charity's ability to contiDU& Income All income is Tecognised in the Statement of Financial Activitie8 once th¢ charity has entitlement to the funds, it is probable that th¢ income will be received and the amount be measured reliably. Exp¢ndlture Liabilities are r¢cognised as ¢xpendiNre as soon as there is a legal or constrnctiv¢ obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in Settlement and the amount of the obligation can be me&sured reliably. Expenditure is accounted for on an accnJal$ b&8is and has be¢n classified under headings that aggregate all Cost related to the &*egory. Where costs ¢amiot be directly attributed to particular headings they have been allocated to tivitIeS on a basis consisÉent with the use of resou¢$. TAngible fixed assets Deprlation is provided at the following annu41 rates in order to write off each asset over its estimated useful life. Plant and machinery Computer equipment 2(VA on cost Tangible ass¢ts are initially recorded at cosL and are subsequently stated at cost less any accumulated depreciation and impairni¢nt losses. Any tangible assets Calea at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impainnent losse& If ther¢ is an indication that there has been a Significant change in depreciation rdte, usefjjl life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. An increase in tbe catrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and resetve4 except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or Ios8. A in ihe carying amount of an asset &s result of revaluation is recognised in oiher comprehensive income to the extent of any previously recognised revaluation increase accumulated in capitsl and reserves in respecÉ of that assel. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that as8e¢ the excess shall be recognised in profit or loss. Impaiment A review for Andi¢aÉors of impairnient is Caled out at ea¢h reporting date, with the recoverable amount being estimatrd where such inditrdlors exist. Where the carrying value exceeds tbe recoverable amounL the &88et is impaired accordingly. Prior impairnients are also reviewed for possibl¢ reversal at each reporting date. When it is not possible to estimate ihe recoverable amount of an individuaI asset. an estimate is made of the r¢¢overable amount of ihe cash-generating unit to which the ass¢t belongs. The cash-gen¢rating unit is the smallest identifiable group of &ssets that includes the asset and generates ¢&8h inflows that are largely independent of the cash inflows from other assets or groups of assets. Page 9 continued...
Salers Cattle Society of tbe UK Llmlted Notes to the Financial Ststements- Colltlnued for the Year Ended 31 Deeember 2024 ACCOUNTING POLICIES . eontinued Stodis Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving item& Taxation The Gharity is exempt from corporation on its charitable activities. Fund aeeounting Unrestricted funds can be used in accordance with the ¢haritable objectives at the discretion of the tnJs¢ees. Restricted ndS can only b¢ used for particular restricted puryoses within the objects of the charity. Restrictions aris¢ when sp¢¢ified by ihe donor or when thnds are raised for particular restri¢ted purposes. If applicable, fiher explanation of the nature and pury)ose of each fund is included in the notes to the fmanciai ststements. Pen$ioll costs other post-retirement benefits The charilable company operates a defffted contribution pension scheme. Contributions payabl¢ to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Provtsions Provisions are reCOlsed when the entity has an obligation at the reporting dat¢ &s a result of a past evenL it is probabl¢ that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated Teliably. Provisions are recognised as a liability in the statement of fmancial position and the amount of the provision &8 an expens& Provisions are initially measured at th¢ best estimate of the amount required to settle ihe obligation at the reporting date and subsequently reviewed at each reporting date and adjust¢d to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously Tecognised are reCOlsed in profit or loss unless the provision originalty recognised as part of the cost of an &ssel. When a provision is measUd at the present value of the amount expeGt¢d to be required to settle the obligation. the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises. OTHER TRADING ACTtVlTIES 31.12.24 31.12.23 DNA test kits Mehandise sales 6,425 7,025 25 6,425 7.050 INVESTMENT INCOME 31.12.24 31.12.23 Investment income Interest receivable- trading 777 512 660 577 1289 1,237 Page 10 continued...
Salers Cattle Society of the UK Limited Notes to the Financial StJtements- continued for the Year Ended 31 December 2024 RAISING FUNDS Raisillg donations and legaeies 31.12.24 31.12.23 Support C051S Investmellt management eosts 31.12.24 31.1223 Portfolio management 155 136 Aggregat¢ Smounts 6,415 10,919 NET INCOME1xPEND1TuRE) Net incomel(expendithre) is sthted after chargingl(crediting): 31.12.24 31.12.23 Depreciation - owned assets 464 778 TRUSTEESI REMUTr4ERATION AND BENEFITS There were no tnl¢es, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustses expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. STAFF COSTS The average monthly number of employees during the year was as follows: 31.12.24 31.12.23 No employee5 received emoluments in ex¢ess of £60,000. Page 11 continued...
Salers Cattle Society of the UK Limhed Notes to the Flnancial St#tements- eontlllued for the Year Ended 31 December 2024 INDEPENDENT EXAMINATION The Charity's fee paid to Gall Robertson CA for the Independent Examination of the accounts w&5 £1,242 (2023 - £1.190). Company secretarial and payroll services were also provided. TANGIBLE FIXED ASSETS Plant and machinery Computer equipment Totals COST At l January 2024 and 31 DeMber 2024 2,735 633 3,368 DEPRECIATION At l January 2024 Charge for year 1149 338 433 126 2,582 464 At 31 Dernber 2024 2,487 559 3,046 PIET BOOK VALUE At 31 Decemb¢r 2024 248 74 322 At 31 December 2023 586 200 786 io. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l January 2024 Additions Revaluations 32,650 623 1,289 At 31 December 2024 34,562 NET BOOK VALUE At 31 December 2024 34,562 At 31 De¢ember 2023 32,650 There were no investment &ssets outside the UK. Page 12 continued..
Salers Cattle Society of the UK Limited Notes to the Finalleial Stat¢ments- eontinued for the Year Ended 31 Deeember 2024 io. FIXED ASSET INVESTMENTS- continued Cost or valuation at 31 December 2024 is represented by: Listed investments Valuation in 2017 Valuation in 2018 Valuatkon in 2019 Valuation in 2020 Valuation in 2021 Valuation in 2022 Valuation in 2023 Valuation in 2024 Cost 516 (1.635) 3,042 (615) 2,516 {3,280) 2,213 1,912 29,893 34,562 All inv¢sttnents are initially recorded at cost and revalued to Maet value with gains and losses recognised in the statement of financial activities. ii. STOCKS 31.12.24 31.12.23 Stocks 405 12. DEBTORS: AMOUNTS FALLING DUE WITIIIN ONE YEAR 31.12.24 31.12.23 Trade debtors 19,647 16,290 13. CREDITORS: AMOUTrITS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Bank loans and overdrafts (see note 14) Payments on account Trade creditors Social security and other t&Yes VAT 53 866 162 334 6,129 1,102 301 1,640 7,544 3,043 Page 13 continued...
Salers Cgttle SocAety of the UK Limited Notes to the Fin#neSal Statements- continued for the Year Ended 31 Deeember 2024 14. LOANS An analysis of th¢ maturity of loans is given below.. 31.12.24 31,12.23 Amounts falling due within one year on demand: Bank overdrafts 53 15. ACCRUALS AND DEFERRED INCOME 31.12.24 31.12.23 Accruals and deferred income 1,285 1,888 16. MOVEMENf IN FUF4DS Net movement in ndS At 31.12.24 At 1.1.24 Ullrestri¢ted General fund 83,771 (7,471) 76,300 TOTAL FUNDS 83,771 (7,471) 76,300 Net movement in funds, included in the above are as follows". Incoming resources Resources expended Gains and losses Movement in ndS UnrestrA¢ted funds General fimd 82,872 (91,632) 1,289 (7,471) TOTAL FUNDS 82,872 (91,632) 1,289 (7,471) Comparative$ for movexnent in tsnds Net movement in funds At 31.12.23 At 1.1.23 Unresti7¢ted lld8 General fund 98,084 (14,313) 83,771 TOTAL FUNDS 98,084 (14,313) 83,771 Page 14 continued...
Sglers Cattle Society of the UK Limited Notes to the Flnancial Statements- continued for the Year Ended 31 December 2024 16. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and 108ses Movement in fiinds Unre5tr1eted fynds General fimd 87,374 (103,368) 1,681 (14,313) TOTAL FUIYDS 87,374 {103,368) 1,681 (14,313) A current year 12 months and prior year 12 months combined position is as follows: Net movement in fuThds At 31.12.24 At 1.1.23 Unrestri¢trd funds Generdl fund 98,084 {21,784) 76,300 TOTAL FUNDS 98.084 (21,784) 76,300 A runt year 12 months and prior year 12 months ¢ombined net movement in fund& included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in ndS Unrestrictsd funds Genernl fimd 170,246 {195,000) 2,970 {21,784) TOTAL FUNDS 170,246 (195,000) 2,970 (21,784) 17. EMPLOYEE BENEFIT OBLIGATIONS During the year £592.80 (2023 - £771.78) of employerJ pension contrkbutions were paid. 18. RELATED PARTY DISCLOSURES There were no Telated party transactions for the year ended 31 December 2024. Page 15 continued...
Salers Cattle Society of the UK LimRted Notes lo the FiDanei#l StAtements- continued for the Year Ended 31 December 2024 19. ULTIMATE CONTROLLING PARTY The Charity is controlled by its members. 20. PUBLIC BENEFIT The charity is a publi¢ benefit entity. 21. GOING CONCERN The tnjstees know of no material uncertainties relating to the charity's ability to continue &8 a going concern. Page 16