The Beltex Sheep Society
Limited
(A company limited by guarantee)
Annual Report and Financial
statements
31 March 2024
Company registration number: 02547862
Charlty reglstratlon number.. 1118873
dOdd&co

The Beltax Sheep Soclety Llmited
Contents
Reference and Administrative Details
Trustees, report
Trustees, responsibilities in relation to the finanaal statements
Independent èxaminers report
Statèment of financial activitie8
Balance sheet
Notes to the financial statements

The Beltex Sheep Soclety Llmlted
Reference and Adminlstrative Detalls
Charlty name
The Beltex Sheep Society Limited
Charlty registralion numbor
1118873
Company registration number
02547862
Prlnclpal office
Holme House
The Dale
Ainstable
CARLISLE
CA4 9RH
Registered offjce
Holme House
The Dale
Ainstable
CARLISLE
CA4 9RH
Trusteeg
A Bishop
(Resigned 7 December 2023)
K R Buckle
(Resigned 7 De¢ember 2023)
AJPEvans
{Resigned 7 December 2023)
G R Evans
R G Findlay
J Howieson
(Appointed 7 December 2023)
(Appointed 7 De¢ember 2023)
G M Ireland
(Appointed 7 December 2023)
H C Jewitt
J C Little
J A M¢Garva
A Morton
E O'Neill
DEOwen
{Appointed 7 December 2023)
K Preston
K C B Shuttleworth
S Wo¢)d
(Resigned 7 December 2023)
Secretsry
A Ryder (Appointed 1 December 2023)
A¢¢ountant
Dodd & Co Limited
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA12RW
Page 1

The Beltex Sheep Society Llmfted
Trustees, Roport for the Year Ended 31 March 2024
The trustees who are also directors of the charity for the purposes of the Companies Aci 2006, present their
report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted
the provisions of Accounting and Reporting by Charities". Ststement of Recommended Practice applicable to
charilies preparing their accounts in accordan￿ with the Finanoal Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) (effective l January 20191.
OBJECTIVES AND ACTIVITIES
The objects ofthe Society are..
To promote the science and practice of agriculture by encouragement. promotion and improvement of the
breeding of Beltex Sheep and the maintenancE ofthe purity of the breed in the Uniled Kingdom.
- To en￿urage. promote and improve the breeding of Beltex Sheep to ensure the prese￿atIon of the breed for
the public benefiL
- To undertake research on sheep breeding and matters relating thereto and to disseminate the usefvl resutts of
research for the Dublic benefit.
The main activities of the So¢iety are to maintain a register of members, pedigree Beltex Sheep in the United
Kingdom and to promote the breéd at agri¢ultural shows and events.
The Society continues to improve services offered to members. and continues to encourage production of lean
meat to fulfil consumer demand and the public health objedive. We have referred lo the Charity Commission's
general guidance on public benefit when reviewing our aims and obje¢tive$ and in planning our future aclivrties.
In particular. the Direclors consider how planned activities will contribute to the aims and objectNes they have
set.
ACHIEVEMENT AND PERFORMANCE
The Soaety's rnembership and registrations remains conslanl from the previous year, the details of which are
induded in the Offi￿ bèarers, reports to the membership. Through continuous promotion. the breed 1$ now
recognised as one of the leading teminal sires used in the UK, and in tum members are gaining this
acknowledgement in the show rings. Beltex sired lambs continue to attain top accolades and prie4s at Primestock
shows with many commer¢ial farmers turning to the breed to improve Ggrcases. The Society is perfomiing well
with this increase of interest and give5 good value to the membership.
The Society introduced DNA Te$ling for stock sir&s for all lambs Birth Notified l Registered in 2019 onwards, this
policy was ehanged in August 2022 with approval from the membership with DNA testing now being voluntary
and not compulsory. This ha5 resulted in a drop in DNA testing income and expenditure.
Since the beginning of 2021 after Brexf(, the rules changed for exports to not only Europe. but also Northem
Ireland the animal must be Group One genotype or from a Scrapie Monitored flod(, which the breeder can find
QLrt before other tests have to be carried out.
FINANCIAL REVIEW
The Society's financial position at the end of the financial period remains sound. All funds held are available for
the wide-ranging running of the Society.
The Society's policy is to hold reserves sufficient to cover at least a yea¢s operating costs. in case the sheep
industry or the breed fall on lean times. Free re%rves at 31 March 2024 were £306,984.
Society membership continues to remain steady, which generally influences the number of sheep registrations.
Many new members initially have a small flock which increases year on year. This year Breeders have registered
less sheep which has resulted in a reduction in Birth registration income.
The busiest time of the year is betsveen May - October with travelling to major agricultural shows. events and
Society breed sales across lh8 country. The Pfogram for Breed Promotion Officer is agreed by the Directors in
the Society's budget for the coming year.
The Council Members continually review business and operational risks whith the charity fa￿S which in tum
enables regular reports to be produced $0 that necéssary recommendations can be made to lessen these risks.
Page 2

The Beftex Sheep Soclety Llmited
Trustees, Report for the Year Ended 31 March 2024
The Directors do not at present c￿nsiderthaI there are any significant financial risks facing the Society.
FUTURE PLANS
The Society aims to continue to increase its membership numbers and its pedigree sheep register in accordance
with its objectives.
The SoGiely Gontinues to attend and have a nOti￿able presen￿ at major shows and agricultural events to
promote the merits of the breed. The Society has tasked a small group to further promote the b￿ed with the
younger generation known as Beltex Young Breeders. this falls into two age groups under 16's and over 16's.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Govorning document
The charity is controlled by its goveming document, a deed of trust. and con$titute$ a limrled Company, limited by
guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of now trustee8
The Artides ofAssociation require the election of a Council of Management from the membership which must not
be less than five, nor more than ￿e1ve in number. Council members. {who are also directors of the company),
are ele￿ed by Ihe members in General Meeling and are subject to retirement at the third annual general meeting
after the annual general meetin9 at which they were appointed and may not serve more than two ￿nSecutive
tem)s. The Council Members have the power to CA)•OPt to the Board to fill va¢an¢ies. All members within the
region of the ￿tiring Council Memb8r are circulated with invitations to nominate Council Members prior to the
AGM. The Council Members adminisler the So¢iely in accordance wilh the governing document.
Induction and tralning of new trustees
New Council members (Directors) receive an infomiation pack detailing responsibililies and legal obligations
under charity and comp?ny law, the Memorandum and Ariides of Association. the budget and budget updates.
Small company provisions
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the Board on 21 November 2024 and signed on its behalf by:
K C B Shuttleworth
Trustee
Page 3

The Beltex Sheep Society Llmlted
Trustees. Responslbllltles In rnlatlon to the Flnanclal Statements
The trustees {who are also direciors of The Beliex Sheep Society Limited for the purposes of wmpany law) are
responsible for preparing the Trustees. Annual Report and the finan￿￿1 slatemenls in accordan￿ with applicable
law and the Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland..
Company law require5 the trustee$ lo prepare financial statsments for each financial year which give a true and
fair view of the stste of affairs of the charitabl• company and of the incoming ￿SOurCeS and application of
Sources, including income and expenditure. of the charitable Mmpany for that period. In preparing these
financial statements, the trustees are required to..
select suitable accounting policies and then apply them ￿$nsiStently.'
observe the m8thods and principles in the Charities SORP"
make judgements and estimates that are reasonable and pruden(
state whether applicable UK a¢counting standards have been followed. subject to any material departures
disdosed and explained in the financial statements- and
prepare the financial statements on the going ￿n￿M basis unless it is inappropriate to presume that the
charitable company will continue in business.
The trustses are responsible for keeping proper accounling ￿COrdS that disclose with reasonable accuracy at
any time the financial position of the ¢harit8ble company and enabl8 them lo ensure that the financial statements
comply y￿th the Companies Act 2006. They are also responsible for safeguarding the assels of the charitable
¢ompany and hen￿ for taking reasonable Steps for the prevention and dete¢lion of fraud and other irregularities.
Page 4

Independent Examln8rfs Report to the Trustees of
The Beltex Sheep Soclety Llmltsd
l Rport on the accounts of the company for the year ended 31 March 2024, which aré sét out on pages 6 to 15.
Respectlve responslbllltles of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company lawl are responsible for the
prepaialion of the accounts. The Iruslees consider that an audit is not required for this year under section 144{2)
ofthe Charities Act 2011 as amended by the Charities A(a 2022 (the Act) and that an independent examination is
needed.
Having satisfied myself that the charity is not subject to audii under Part 16 of the Companies Act 2006 and is
eligible for independent examination, it is my responsibility to..
examine the accounts under Section 145 of the Act..
follow th8 prO￿dureS laid down in the General Directions given by the Charity Commission under section
145 (51 Ibl of the Act,. and
state whether parbcular matters have come to my attention.
Basls of Independent examlnetr$ report
My examination was c4rried out in accordance wth the General Directions given by the Charity Gommi$$ion. An
examination include5 a review of the accounting ￿cordS kept by the charity and a comparison of the accounts
presented with those records.11 also includes consideration of artry unusual items or disclosures in the accounts,
and seeking éxplanations frcm you as trustees concerning any such matters. The procedure5 undertaken do not
provide all Ihe evKlence Ihal would be required in an audit and consequently no opinion is given as to whether
the accounts present a 'lrue and fair view and the report is limited to those matters set out in the ststement
below.
Independent oxafflingrfs statement
In connection with my examination, no matter has come to my attention_.
(1) which gives me reasonable cause to believe that in any material respect the requirements=
lo keep accounting records in accordan￿ with section 386 of the Companie5 Act 2006: and
to prepar8 accounts which accord with the accounting records, comply with the accounting
requirements of section 396 of the Companies Act 2006 and with the methods and principles of
the Statement of Recommended Practi￿.. A￿unting and Reporting by Charities
have not been met., or
(21 to whith, in my opinion, attention should be drawn in order to enable a proper understanding of the
accounts to be reached.
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA12RW
e Thomlinson FCA
d & Co Limited
artered Accountants
21 November 2024
Page 5

The Beltox Sheep Soclety Llmited
statement of Flnancial Activities {includlng Incomè and Expendlture Account) for the Year
Ended 31 March 2024
Unrestricted Totsl Funds Total Fund8
Fund8
2024
2023
Note
Income and endowmènts from:
Donations and legaci88
Investments
Chariiabl8 activities
Totsl income and 8nd0v￿ents
5,537
3,239
173.266
182,042
5.537
3,239
173.266
182,042
3,125
502
198,931
202,558
Expenditure on:
Charitsble activities
Total expenditure
173,372
173,372
173,372
173.372
192,294
192,294
Net mov8ments in fund$
8,670
8.670
10,264
Reconciliation of fund$
Total funds brought fomard
Total funds carried forward
300,140
308.810
300,140
308,810
289.876
300,140
All of the Charity's aclivities derive from conlinuing operations during the above periods.
Income and expendilure in the prior perod relate to unrestricted funds.
The notes on pages 8 to 15 fom an integral part of these financial statements.
Page 6

The Beltex Sheep Soclety Llmlted
Company registration number: 02547862
Balance Sheet as at 31 March 2024
2024
2023
Note
Fixed assets
Tangible assets
1.826
2.436
Current assets
Stock
Debtors
Cash al bank and in hand
6.779
50,204
265.996
322.979
6,501
45.501
256.635
308,637
Creditors: Amounts falling due within
one year
10
(15.9951
110,933)
Nel current assets
306.984
297.704
Net assets
308,810
300.140
The funds of the charlty:
Unrostri¢tsd fund$
Unrestricted income funds
308.810
300,140
Totsl ¢harity fund$
For the financial year ended 31 March 2024, the charity was entitled to exemption from audit under section 477 of
the CompaniesAct 2006.
308,810
300,140
The members have not required the charity to obtain an audit of its accounts for the year in question in
ac￿rdanCe with section 476 of the Act.
The d1￿CtorS ad(nowledge their responsibilities for complying Wlth the requirements of the Act with ￿speCt to
accounting records and the preparation of accounts.
These accounts have been prepared in accordan￿ with the provisions applicable lo Companies subject to the
small companies regime.
Approved by the Board on 21 November 2024 and stgned on ils behatf by:
Shuttleworth
Trustee
A Ryder
Secretary
The notes on pages 8 to 15 form an integral part of these financial stslements.
Page 7

The Beltex Sheep Soclety Limited
Notes to the Flnanclal Statements for the Year Ended 31 Ma￿h 2024
Accounllng pollcles
Summary of slgnlfl¢ant accounting policies and key accountlng e5timat88
The princ4pal accounting policies applied in the preparation of these financial statements are sel out below.
These policjes have been consistently applied to all the years pre5enled, unless othe￿iSe slated.
Slatemgnt 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 accordan￿ with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeciive 1 January
2019)- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 and the CompaniesAct 2006.
Basi8 of preparntion
The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabiliti85
are inib.ally reco9nised at historical cost or transaction value unless otherwise ststed in the relevant
accounting policy notes.
Going concern
These financial statements have been prepared on a going concem basis.
The truste8s assess whether the use of going concern is appropriate i.e. wh8ther there are any material
uncertainties related to evenls or conditions thal may cast significant doubt on the 8bility of the Charity to
continue as a going ¢on¢ern. The tTUStees make this assessment in respect of a period of one year from the
date of approval of the finan¢ial Statements.
Fund ac¢ountlng policy
Unrestricted income funds are general funds that are available for use at the trustees. discretion in
furtherance of the objective5 of the charity.
Further details of each fund are disclosed in note 14.
Income and endowments
Income from Govemment and other grants, whether 'capital' grants or 'revenue' grants, is recognised when
the charity has enlillement to the funds, any perlornance conditions attached lo the grants have been met,
it is probable that the income will be received and the amount can be measured reliably is not deferred.
Where servii%s or facilities are provided to the Charity as a donatioll that would normally be purchased from
our suppliers. this benefit is included in the financial statements at its fair value unless its fair value cannot
be realiably measured, then at cost to the donor or the resale value of the goods that are to be sold.
Investment income is recognised on a ￿￿1Vable basis.
Income from charitable activities inctudes income recogniserj as eamed las the related goods or servi￿$
are provided) under Contract or where entitlement to grant funding is subject to specific perfomance
conditions. Grant income included in this category provides fundin9 to support programme activities and is
recognised where there is entitlement. certainty of receipt and the amount can be measured with sufficient
reliability.
Page 8

The Beltex Sheep Soclety Limlted
Notes to the Flnanclal Statements for the Year Endod 31 March 2024
continued
Expènditure
Liabilities are recognised 8s soon as there is a legal or constructive obligation committing the charity to the
expenditure. All expenditure is accounted for on 8n accruals basis and has been dassified under headings
that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity in the delivery of ils activities and
services ft)r its beneficiaries. It includes both costs that can be allocated directly lo such activities and those
costs of an indirect nature necessary to support them.
Support costs
Support Costs include central functions and have been allocated to activity cost Categories on a basis
consistent with the use of resources, for example. allO￿ting property costs by floor a￿as. or per capila,
staff costs by the time spent and other costs by their usage.
Irrecoverdble VAT
Irrecoverable VAT is charged against the category of ￿SoUrceS expended forwhich it was incurred.
Taxatlon
The Charity is considered to pa55 the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and
therefore il meets the definition of a charitable company for UK ￿rPoratIon lax purposes. Accordingly. the
Charity is potentially 8xempt from taxation in respect of income or capital gains re￿1Ve4 within categories
covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the TaxatlDn of Chargeable
Gains Act 1992. to the extent that such income or gains are applied exclusively lo charitable purposes.
Fixed assets
Individual fixed assets costing- or more are initially recorded at cost.
Depreclallon
Depreciation is provided on tangible fixed asséts so as to write off the cost or v81uation, less any estimatsd
residual value, over their expe¢led useful economic life as follows-
Plant and machinery
25 10 reducing balance basis
Office equipment
250/D reducing balance basis
Stock
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving
stocks. Net realisable value is based on selling pri￿ less anticipated costs lo completion and selling costs.
Items donated for resale or distribution are not included in the financial statements until they are sold or
distributed.
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 effeclive interest method, less provision for impairment. A provision
for the impaimient of trade debtors is established when there is objective evidence that the Charity will not
be able to collect all amounts due according lo the original terms of the receivables.
Cash and Cash Equivalonts
Cash and cash equivalents comprise cash on hand and ¢all deposits, and other short-leTrn highly liquid
investsnents that are readily convertibl8 lo a known amount of cash and are subject to an insigniffi￿nt risk of
hange in value.
Page 9

The Beltex Sheep Society Llmlted
Notss to the Flnanclal Statements for the Year Ended 31 March 2024
.. continued
Liabilities
Trade ¢reditors are obligation$ to pay for goods or services that have been ao4uired 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
Iwelve monlhs after the reporting date. If there 1$ an unconditional right to defer settlement for at least
elve months after the reporting date, they are presented as non4urrenl liabilities.
Trade creditors are recognised initially at the transaction Pri￿ and subsequently measU￿d at amortised
C05t using the effective interest method.
Financial instruments
Financial assets and financial liabilities are re￿nised when the charity becomes a party to the contractual
provisions of the instrument. Financial liabililies and equity instruments are cjassified according to the
substance of the tt)nlraclual arrangements entered into. An equity instrument is any contract that evidences
a residual interest in the assets of the Charity after deductin9 all of its liabilities.
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, whith are initially measured
at fair value {which is nomally the transaction price excluding transaciion costs). unless the arrangement
constitutes a financing transaction. If an arrangement conslilutes a financing transaction, the financial asset
or financial liability is measured at the present value of the future payments di$¢ounted at a market rate of
interest for a similar debt instrument.
Finanaal assets and liabilities are only offset in the slatement of financial position when, and only when
there exists a legally enfortkabie rsght to Set off the recognised amounts and the Chariiy intends either to
settle on a net basis, or lo realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when al the contractual lights to the Cash flows from the
financial asset expire or are Settled, b) the Chariiy 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,
signifi¢anl risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obli9ation spe¢ified in the contract is discharged,
cancelled or expires.
Donations and lega¢ies
Unreslrfcted Tolal Funds Total Funds
Fund8
2024
2023
Donatlons and legacies
Gift aid clairn
Donations
3.322
2,215
5,537
3,322
2,215
5,537
3,079
46
3,125
Page 10

The Beltex Sheep Society Llmlt•d
Notes to th• Flnanclal Statements for the Year Ended 31 March 2024
. continued
Invoslments
Unrestrictod Total Fund$ Total Funds
Fund$
2024
2023
Interest on ca8h deposits
3,239
3,239
502
Charitable actlvltle$
Unrnstrlcted Total Fund$ Totsl Funds
Funds
2024
2023
Membership subscription5
New membership subs¢ripion$
Pedigree sales Commissions
Year book advertising
Birth ￿gIstratIonS
Embryo règistration
Promotional goods
DNA sample testin9
DNA parentsge ts$ting
23.482
1,375
21,411
8,100
83,438
33,026
909
1,458
67
173,268
23,482
1,375
21,411
8.100
83,438
33,026
909
1,458
67
173,2e6
23,782
1.450
19,576
7,918
100,476
35,642
1,103
440
198.931
Page11

Tho Boltex Sheep Society Limited
Notes to the Financial Statements for th• Year Ended 31 March 2024
. continued
Expenditurn
Promoting
and
Improvlng
the breed
Total
2024
Total
2023
Direct eosts
Opening stock
Purchases
Website and social media
Year book expen5e5
Closing stock
Show and sale expenses
Sponsorship and prizes
Regional club sponsorship
Advertising and prornolion
Travel and accommodation
DNA sample testing
DNA parentage testing
6,501
3.851
1.869
11,737
(6,7791
24,863
5,399
2,635
29.504
7,882
1,426
135
89,003
6,501
3,851
1,869
11,737
16,7791
24,863
5,399
2,635
29,504
7.862
1.426
135
89,003
7.052
2.590
1,189
9.876
(6.501)
26.732
5,550
3.370
38.426
5.305
9,720
480
103,789
Support Costs
Insurance
Office management
Telephone and fax
Computer running costs
Printing, postage and stationery
Trade subscriptions
Accountanw fees
Independent examiner's fee
Council expenses
AGM expense5
Bad debts written off
Bank tharges
Depreuats'on
2.619
66,000
406
1,633
4.818
225
1,238
750
3.189
208
685
1,988
610
84,369
2,619
66,000
406
1,633
4,818
225
1,238
750
3.189
208
685
1.988
610
84,369
2.646
66.000
839
1.452
4,872
300
1.841
720
4.016
2.394
2.613
812
88.505
173,372
173,372
192.294
Tru8tees' romuneratlon and expenses
In the year, 412023.. 11 Trustees received inspectors expenses and travelling expenses of £1,268.3612023:
£5731.
Page 12

The Beltex Sheep Society Llmit•d
Not•s to the Flnanclal Statements for the Year Ended 31 March 2024
. continued
Net in¢ome
Net inc￿rne is stated after charging..
2024
2023
Depreciation of tangible fixed assets
610
812
Tanglblo fixed assets
Plant and
machlnery
Fixtures,
including motor flttlngs and
vehiclos
equlpment
Total
Cost
As at 1 April 2023 and 31 March 2024
5,765
3,266
9,031
Depre¢lallon
As at 1 April 2023
Charge for th6 yèar
As at 31 March 2024
4,830
234
5,064
1,765
376
2,141
6,595
610
7.205
Net book value
As at 31 March 2024
As at 31 March 2023
701
1,125
1,501
1,826
2.436
935
Debtor5
2024
2023
Trade debtors
Other debtors
Prepayments and accrued in¢ome
42,008
3,261
4,935
50,204
25,997
3,074
16,430
45.501
Page 13

The Beltex Sheep Society Limited
Notss to the Financial Statements for the Year Ended 31 March 2024
. crjntinued
10 Crnditorg: Amounts falllng due wlthln one year
2024
2023
Trade C￿dItors
Taxation and SOCAal security
Accruals and deferréd income
6.519
3.955
5,521
15,995
413
1.620
8.900
10,933
11 Members. Ilabilty
The charity is a private company limrted by guatatrtee and consequently does not have share capital. Each
of the members is liable to contribute an amount not ex￿edIng £1 towards the assets of the charity in the
event of liquidation.
12 Relatod parti09
Controlllng entity
The Charity is controlled by the trustees who are all dirèctors of the company.
Relatsd party transaetlons
A Bishop (Trusteel was paid £561 in the prior year for sale inspection services and £180 for the loan of
sheep in the prior year. K Preston re￿iVed £200 for DNA sampling. The services were provided on normal
commercial terms. Finally. A Morton and A Bishop re￿iVed £200 and £50 respectively in prize money.
13 Funds held by Clubs
Funds totalling £29,834 IPY. £41,262) are held by a number of Beltex sheep breeder clubs in Britain and
Ireland. Th8 society has no control over these ￿ndS whilst these clubs remain active and so the amount has
not been ￿￿gnised in the balance sheet. The dub rules, which have been 8pproved by the society,
stipulate thal the fund5 will transfer to the society in the event of a club winding up
Page 14

Tho B•ltsx Sheep Soclety Llmlted
Notes to the Financlal Statements for tho Year Ended 31 March 2024
. conlinued
14 Anaty8i8 of funds
At 1 Aprll
2023
Incomlng
resources
Regour¢oS
expondod
At 31 March
2024
.General Fund$
Unrestricted income fvnd
300.140
182,042
1173,372}
308.810
Prior porlod
At 1 Aprll
2022
Incoming
re8ource5
Resources
expended
At 31 March
2023
General Fund$
Unrestricted income fund
289,876
202,558
{192.2941
300.140
15 Netassets by fund
Unrestricted
Funds
Totsl Funds
2024
Total Funds
2023
Tangible assets
Current 8ssets
Creditors.. Amounts falling due wthin one year
Nel assets
1,826
322,979
(15.9951
308,810
1,826
322,979
{15,9951
308,810
2,436
308.637
{10.933>
300,140
Prior period
Unrestricted
Funds
Total Funds
2023
Total Funds
2022
Tangible assets
Current assets
Creditors.. Amounts falling due within one year
Net assets
2,436
308,637
{10,9331
300,140
2.436
308,637
{10.9331
300,140
3.248
302.369
115,7411
289,876
Page 15