**Registered Charity Number: 209009** 

## **INTERNATIONAL SHEEP DOG SOCIETY** 

**TRUSTEES' REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 OCTOBER 2021** 



## **INTERNATIONAL SHEEP DOG SOCIETY** 

## **CONTENTS** 

||Page|
|---|---|
|**Reference and Administrative Details**|1 – 2|
|**Trustees Report**|3 – 12|
|**Independent Auditors Report**|13 – 15|
|**Statement of Financial Activities**|16|
|**Balance Sheet**|17|
|**Cash Flow Statement**|18|
|**Notes to the Financial Statements**|19 – 34|





## **INTERNATIONAL SHEEP DOG SOCIETY** 

**REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **Trustees** 

**Chairman** Mr I L Fleming 

**Vice Chairman** Mr S Mosse 

**Term** 2020/2023 

2018/2021 + 1 Year Extension to 2022 

**National Presidents** 

Mr J Relph English National President Appointed President 18/06/2020 Mr P Murphy Jnr Irish National President Appointed President 18/06/2020 Mr J Ogston Scottish National President 2019/2023 Mr E L Morgan Welsh National President 2016/2020 - Resigned 18/06/2020 Mr E W Edwards Welsh National President Appointed 16/09/2020 (Casual Vacancy) 

**England** Mr R Smith Mr M Watson Mr R Dean **Ireland** Mr T Lambe Mr P Morgan Mr R Golligher 

2019/2022 2020/2023 Appointed 24/06/2020 (Casual Vacancy) 

2019/2022 Appointed 01/02/2020 Appointed 01/07/2020 (Casual Vacancy) 

**Scotland** Mr N Gillon Miss F McMillan Mr E MacKinnon 

2019/2022 Appointed 01/02/2020 Appointed 01/02/2020 (Casual Vacancy) 

**Wales** Mr K Evans Mr A Owen Mr R Ellis 

Appointed 25/08/2020 (Casual Vacancy) Appointed 25/08/2020 (Casual Vacancy) Appointed 25/08/2020 (Casual Vacancy) 

**Charity Registered Number** 209009 

**Principal Office** Clifton House 4A Goldington Road Bedford MK40 3NF 

Page 1 



## **INTERNATIONAL SHEEP DOG SOCIETY** 

**REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (Continued)** 

## **FOR THE YEAR ENDED 31 OCTOBER 2021** 

**Executive Officer** Mrs H Vickery (Resigned) Miss Isabel Branch (Appointed 1 December 2021) 

**Auditor** MHA MacIntyre Hudson 11 Merus Court Meridian Business Park Leicester LE19 1RJ 

**Bankers** Santander Bootle Merseyside L30 4GB 

Page 2 



## **INTERNATIONAL SHEEP DOG SOCIETY** 

## **TRUSTEES REPORT FOR THE YEAR ENDED 31 OCTOBER 2021** 

The Trustees present their Annual Report together with the audited Financial Statements of The International Sheep Dog Society (the Charity) for the year ended 31 October 2021. The Trustees confirm that the Annual Report and Financial Statements of the Charity comply with the current statutory requirements, the requirements of the Charity’s governing document and the provisions of the Statement of Recommended Practice (SORP) “Charities SORP (FRS 102)”. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **CONSTITUTION** 

The Society is a member organisation, first established in 1906, managed by its membership throug h a Constitution. The Constitution was published in a form similar to that current around 1955. On 22 September 1962 the Society was registered as a Charity, with the Charity Commission for England and Wales, by its Governing Document, being the Constitution dated 1960. The constitution has had subsequent amendments, the most recent being 2 February 2018. Governance is by Trustees, acting as a body, directed by the Constitution. 2018 is the current constitution on record with the Charity Commission. 

## **TRUSTEES’ INDEMNITIES** 

Trustees benefit from indemnity insurance to cover the liability of the Trustees which by virtue of any rule of law would otherwise attach to them in respect of any negligence, default or breach of trust or breach of duty of which they may be guilty in relation to the charity. The cost of this insurance in the year was £2,352 (2020 - £2,352). 

## **METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES** 

The Trustees are described in the Constitution as members of Council. A member of Council is a Trust ee; the Society Council is the Trustee body. The Trustee body comprises the Chairman (elected by the Directorate), the Vice Chairman (elected by the Directorate), the four National Presidents (each elected by the respective members from England, Ireland, Scotland, and Wales) and up to three Directors from each of those four nations (elected by the Directorate). Trustees generally serve for a three-year period, henceforth they must stand down for at least 1 year before being eligible for re-election, except for Presidents who normally serve a four-year term, plus one year as President Elect, whilst in the President Elect position there are no voting rights. Society Members are notified annually via the Society website and the bi-monthly ISN magazine that Trustee nominations must be submitted to the Society by 1[st] November of that year. At each annual meeting of the Directors, the English, Scottish, Welsh and Irish Directors separately elect one of their members to serve on the Council for a three-year period. Upon appointment, induction of the Trustee will take place and the newly appointed Trustee is provided with documentation explaining the Trustee role and specification. Rules for appointment are fully defined in the Constitution. 

## **POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES** 

New Trustees are required to have served for a period as Directors before appointment and thus become acquainted with the objects and business of the Society. New Trustees will receive informative papers on the activities of the Society and be briefed on their responsibilities by the Chairman and President. They are invited to attend the offices of the Society to receive training on their role and the financial activities of the Society if they are not fully familiar with these. 

Exact Consultants who have been appointed to complete a governance review for the Society have written a draft Trustee role description and person specification that has been initially reviewed by Council during February 2021. The draft document includes a Trustee’s main principles, responsibilities, the role of the Chairman and a person specification for the role as Trustee. 

Page 3 



## **INTERNATIONAL SHEEP DOG SOCIETY** 

## **TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2021** 

Exact consultants will continue to consult on an ongoing basis to provide guidance to the Trustees. 

## **ORGANISATIONAL, STRUCTURE AND DECISION MAKING** 

Council appoints a Chief Executive Officer who will recruit necessary employed staff to undertake the duties of the Society office. The structure of the Society thus consists of: 

- The Membership - who elect Directors to serve on the Directorate for three years; 

- The Directorate - who elect a Chairman, Vice Chairman and Members of Council, and vote on changes to the Constitution; 

- The Society Council - which provides strategic direction and whose members are the Trustees to the Society; and 

- The Executive Officer - who directs the day-to-day activities of the Society in accordance with the direction of the above. 

## **ARRANGEMENTS FOR SETTING PAY AND REMUNERATION TO KEY MANAGEMENT PERSONNEL** 

The Chairman, Vice Chairman and National Presidents review on a yearly basis the remuneration amounts of office staff. This action takes place at Employment Committee on the first day of the Annual General Meeting. Once decided it is passed within Committee, who in turn report the conclusions to the ISDS Council body, as a matter of agenda at the Council meeting on the second day of the Annual General Meeting . 

## **TRUSTEES EXPENSES** 

Trustees may receive reimbursement only for costs incurred in carrying out their duties. This would normally be for accommodation and travel to meetings and telephone calls. Accommodation and meals while attending a meeting may be settled directly by the Society. Claims for expenses may be paid through the Society office only and Trustees have no mechanism for making payments. For 2020/21 Trustees received payments totaling £7,080 (2020 - £1,377) for expenses incurred. Trustee expense claims were considerably lower during 2020/21 due to Trustee meetings taking place via Zoom and their being restricted attendance at National and International trials, this was a result of COVID-19.  Therefore, from March 2020 all Trustee meetings were conducted remotely. There was no AGM held in 2021. 

## **RISK MANAGEMENT** 

The Trustees have identified that a major risk to the Society would be the loss of income from trials, dog registration and membership if there was to be a significant threat to sheep sto ckholding and/or movement within the UK for more than one year. For example, a foot-and-mouth or blue-tongue disease crisis lasting more than 12 months. The charity’s reserves policy is drafted in response to this risk. 

The new/current CEO will review further potential insurances with Erskine Murray, to cover such outbreaks as foot and mouth or other diseases. Along with other risks such as bank frauds as generic additions. 

Event Cancellation Cover Insurance, to protect budgeted costs or revenue should an event be cancelled due to reasons beyond the Society’s control is an optional insurance extra available to the Society. Cover available includes cover for adverse weather, event equipment, communicable disease, terrorism, and national mourning. Further discussion is taking place with Erskine Murray to determine if this cover would be suitable for the Society and if so, the cost that would be incurred. A report will be provided to the Trustees in due course. 

Page 4 



## **INTERNATIONAL SHEEP DOG SOCIETY** 

## **TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2021** 

Entity Defense cover is included within the Society insurance policy, with a £1m limit of indemnity. 

An Internal Financial Controls Checklist for Trustees, which is available from the Charity Commission, is in place and actively being used by the Society and is supported by the Society accounts. 

Erskine Murray provide Risk Management Services in addition to Insurance, providing specific advice in relation to safety challenges by the Society particularly around the management of safety at the annual major trials. The Executive Officer will review this additional service and a report will be provided to the Trustees in due course. 

## **OBJECTIVES AND ACTIVITIES** 

“TO PROMOTE AND FOSTER THE BREEDING, TRAINING AND IMPROVEMENT IN THE INTERESTS AND FOR THE WELFARE OR BENEFIT OF THE COMMUNITY OF THE BREEDS OR STRAINS OF SHEEP DOGS, TO SECURE THE BETTER MANAGEMENT OF STOCK BY IMPROVING THE SHEPHERD'S DOG, AND TO ACHIEVE SUCH MAIN OBJECT BY SUCH MEANS AS THE SOCIETY MAY FROM TIME TO TIME DETERMINE.” 

## **AIMS:** 

- To maximise the number of members so that the activities and work of the Society may increase: o First-class member services at the right price – understand what members want from their Society; 

   - An attractive and popular magazine – news and information to meet the needs of breeders, triallists and enthusiasts 

   - Enhanced web facilities – easy and effective communication, embracing social media, developing ‘self-service’ membership activities; and 

   - Reduce overheads for manual processing by converting manual process to digital. 

- To encourage and assist more young people to become involved with practical sheepdog work – young people are essential to the future of the charity; 

- To provide opportunities for those outside farming interested in supporting the skills and traditions of shepherding; 

- To enhance dog and sheep stock health by working with partner organisations with relevant skills and by investing in schemes to monitor and improve aspects of dog, sheep, and stock health; 

- To continue to develop UK and Irish sheepdog trials to attract sponsors and visitors with the provision of other activities of interest; and 

- The ISDS Shop online business continues to assist in the promotion of the Society and is a source of books and DVDs for education and training, along with a wide range of specialised whistles for working dogs. It should continue to grow but should cover its costs of operation. A financial review will be conducted during the second quarter of 2022 to understand profit margins, the feasibility of items stocked and the post and package cost, especially when shipping is overseas. 

Page 5 



## **INTERNATIONAL SHEEP DOG SOCIETY** 

**TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **STRATEGIES FOR ACHIEVING OBJECTIVES:** 

- Promotion or organisation of sheepdog trials, exhibitions, either competitive or non-competitive and either in association or unassociated with any other societies, bodies, or persons, like or suitable occasions or events; 

- To actively encourage local Sheep Dog Associations to affiliate to the International Sheep Dog Society, and if requested, assist with the organisation of their Association; 

- The keeping and maintenance of a Stud Book for the recording, establishing, and verifying of the pedigrees of sheepdogs; and 

- The encouragement and assistance by advice, guidance, or information of shepherds in their calling, farmers or stockbreeders or keepers regarding all matters pertaining to the sheepdog and the shepherd's craft in relation to his dog. 

## **OBJECTIVES AND ACTIVITIES FOR THE COMING YEAR:** 

A new CEO has been appointed who will primarily work from home overseeing the strategic aspects of the organisation and working on the implementation of bigger objectives that have been previously set out.  The society has experienced an increased volume of work alongside the necessity to work from home due to the COVID-19 pandemic, which has resulted in a delay to processing times.  An Office Manager has also been recruited to assist with and oversee the operation of the office, and to help the Registratio n Officers to address the increased workload with clear processes and communication procedures to Members. 

Reviewing of operations principally relates to dog registration, transfer of ownership, matings and member enrolment. Addressing the increasing cost to the Society of manually producing this documentation is paramount, and in addition reducing the impact on the environment of such manual processes. 

To help meet this objective, a full IT audit is underway, reviewing database software, website and hardware used.  Proposals for and upgrades to software systems and website, are due in the 1[st] quarter of 2022 and will be presented to the Trustees for discussion and review or approval to progress. 

As part of the IT review, processes that are currently in place can be improved, to help efficiency and reduce processing times, these improvements are to be implemented in the current software and will also increase the amount of work the office are able to process and enable the re-opening of Pedigree services to all members. 

Communications from the office to Directors will improve through quarterly reports with Management Accounts and a supporting report relating to Society activities. 

Due to a review of GDPR practices, there are many areas that have had processes simplified, but there are still areas that need to be resolved in order to produce the printed stud book.  It is an objective for 2022 to enable the timely production of the Stud Books again. 

Trials were able to take place in 2021, however in some cases without spectators, it is hoped that during 2022 trials will be back to full capacity with spectators and full-scale event attractions as per the local organising committees plans.  The live-streaming of these events is set to be implemented again this year with wider promotion to gain the attention of non-members and the wider community who have an interest in the working sheep dog. 

Page 6 



## **INTERNATIONAL SHEEP DOG SOCIETY** 

## **TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2021** 

A full Governance Review has been in process and will continue throughout 2022, and as part of best practice for the Society, support will be maintained year on year, to ensure the Society remains compliant, and that policies and procedures are valid. 

During 2022 following agreement by the Directors, an updated Constitution will be circulated for approval by Directors and Trustees and subsequent presentation to the Charity Commission. 

The Society magazine, International Sheepdog News (ISN) is produced under contract at another location and will be provided for members every two months. The Society website and Social Media (Facebook and Twitter) will continue to be used to communicate with members and interested parties, and to post both live and regular news updates.  A review will be conducted to assess the future relationship between print and digital media and content to keep both relevant and of value. 

## **VOLUNTEERS** 

The Society is totally dependent on volunteer members, and other volunteers, for the operation of its major sheepdog trials and raising funds for those trials. They operate under the direction of a President and are deemed employees for insurance purposes but receive no payment other than necessary expenses where approved by Trials Secretaries, Treasurers and/or Committee members. 

The Society office is staffed only by paid employees. The larger part of the Society’s turnover is generated through the activities of the head office by providing a service to members. 

## **FUNDRAISING** 

The Society does not seek to raise funds from individuals and does not make use of any third party for this purpose. The Society therefore does not seek to comply with any voluntary standard related to fundraising. No complaints have been received by the Society in connection with fundraising. 

## **PUBLIC BENEFIT** 

The Trustees have had regard to the Charity Commission guidance on public benefit. As outlined in the ISDS governing document, that being our constitution, the Trustees have had regard to the Charity Commission guidance on public benefit, as per the purpose of the ISDS to promote and foster improvements in breeding, training, handling and welfare of sheep dogs. This is achieved in the following ways: 

- Using careful breeding practices and promoting these in exhibitions or competitive (or non-competitive) trialing events (inclusive of ruling); 

- The publication of the Stud Book to verify breeding and guidance to Shepard’s, farmers and stockbreeders on all matters pertaining to the above; and 

- Including developing and investing in the interest of young handlers in the Society traditions and training. 

## **ACHIVEMENTS AND PERFORMANCE** 

## **GOING CONCERN** 

The Society has remained open and has served its members throughout the COVID-19 pandemic. 

The office-based team are all back in the office as of 21[st] February 2022, it is hoped that this will remain the case, avoiding interruptions with further work from home requirements, however, systems are b eing put in place to enable hybrid working, to maintain efficiency, should there be interruptions to office-based working, for whatever reason. 

Page 7 



## **INTERNATIONAL SHEEP DOG SOCIETY** 

## **TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2021** 

Communication between staff continues to take place via telephone, email, and Microsoft Teams, via instant message desktop facilities and video conferencing. Communication with Trustees continues via email and Zoom video conferencing, and communication with Directors continues via email and post. The Society has an excellent VOIP telephony system in place which has allowed service to resume as normal, this has been a key contributing factor to the success of remote working during COVID-19 as communication with members has continued throughout. 

Throughout the 2021/22 work from home requirements, the office was manned by one person, who was able to control the incoming work, allocating it and arrange post out. Therefore, work was able to continue in a close to normal way. 

The 2020 audit concluded with a list of 12 recommendations for possible improvements within the accounting systems and procedures operated by the Society, an improvement to the prior year. Any further recommendations presented following the 2021 audit will also be addressed with the support of the So ciety Accountants – Camerons of Oxford. 

Cameron’s assist with the quarterly accounts management, providing support to the Society Accounts Administrator, assisting with quarterly reporting and VAT returns and produce a year end audit file for the auditors. 

Income from major trials is an unpredictable factor each year, however, the lack of spectator attendance at the International in 2021 reduced revenue generation, through spectators and reduced sponsor opportunities.   2022 looks like a return to normal levels will be seen, and we look forward to the opportunity of the World Trials taking place in 2023. 

Since the start of the COVID-19 pandemic, the Society has continued to receive and process membership related work, and membership levels continue to increase month on month, which is extremely encouraging. Therefore, the financial impact relating to COVID-19 has had an insignificant impact on the Society’s income, with income levels significantly improved to those of previous years, this is due to the co ntinued processing of registration related work. 

Planning for 2022, major trials are in progress and dates have been assigned to each of the trials, with the Operations and Events Manager (OEM) actively engaging with local committees and National Presidents to help progress the necessary work.  The CEO and OEM are also working with a former Council members to review and update the Trials Manual, to help the trials organisers going forward. 

Principal sponsorship of the Society is provided by Gilbertson and Page. A 3-year sponsorship deal was agreed in 2020, for 2020-2022 Inclusive. Due to the impact of COVID-19 and non-attendance at major sheepdog trials by Gilbertson and Page during 2020, this reduced their brand exposure to Society members. COVID -19 also had an impact on 2021 major sheepdog trials and therefore a further sponsorship year of little to no exposure for Gilbertson and Page. The Society re-negotiated the terms of the 3-year agreement, with the original 3-year agreement being extended to a maximum 5-year agreement, therefore inclusive of the year 2024.  Sponsorship is paid throughout the 5 years, however years 4 (2023) and 5 (2024) would represent the sponsorship fees previously agreed for years 1 and 2. The 2020 sponsorship was settled in full in 2021 upon agreement by both parties to the amended agreement.  The 2021 fee was paid on successful completion of the 2021 trials and the remainder of the agreement will continue as per the original terms. 

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## **INTERNATIONAL SHEEP DOG SOCIETY** 

## **TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2021** 

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. 

## **REVIEW OF ACTIVITIES** 

Activities in 2021 continued in line with the aims and objectives referred to above and the impact of this can be seen in the following section. 

## **FINANCIAL REVIEW** 

1. Total income: 

|**2021**|**2020**|**2019**|**2018**|
|---|---|---|---|
|£627,580|£410,025|£654,156|£652,538|
|me:||||
|**2021**|**2020**|**2019**|**2018**|
|£159,358|£1,322|£195,457|£177,827|



2. Trials income: 

3. Sales income - Shop goods, Stud Books, Subscriptions to ISN (International Sheepdog News): 

|**2021**|**2020**|**2019**|**2018**|
|---|---|---|---|
|Shop - £33,242|Shop - £30,997|Shop - £69,110|Shop - £76,499|
|Magazine Subs -|Magazine Subs -|Magazine Subs -|Magazine Subs -|
|£93,250|£88,781|£88,874|£91,797|
|Total - £126,492|Total - £119,778|Total - £157,984|Total - £168,296|



4. Income from registration and stud book fees, and membership subscriptions: 

|**2021**|**2020**|**2019**|**2018**|
|---|---|---|---|
|Registrations and<br>subscriptions - £218,310<br>Subscriptions -<br>£103,017<br>Totals - £321,327|Registrations and<br>subscriptions - £178,884<br>Subscriptions -<br>£88,550<br>Totals - £267,434|Registrations and<br>subscriptions -<br>£193,074<br>Subscriptions -<br>£87,105<br>Totals - £280,179|Registrations and<br>subscriptions -<br>£197,095<br>Subscriptions -<br>£90,699<br>Total - £287,794|



The number of dogs registered in the calendar year 2021 was £7,908 (2020 was £6,878), (2019 - £7,053) (2018 - £7,395). 

The Society received voluntary donations and legacies payments in the year 2021 was £4,541 (2020 of £1,867), (2019 - £35) (2018 - £nil). 

Other income streams were similar in level to the prior year. 

Page 9 



## **INTERNATIONAL SHEEP DOG SOCIETY** 

**TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2021** 

5. Total expenditure: 

|**2021**|**2020**|**2019**|**2018**|
|---|---|---|---|
|£635,951|£441,691|£684,777|£652,211|
|Trials expenditure:||||
|**2021**|**2020**|**2019**|**2018**|
|£144,472|£10,479|£185,665|£156,507|
|Office staff costs:||||
|**2021**|**2020**|**2019**|**2018**|
|£216,756|£181,522|£191,871|£170,339|



2021 office staff costs are inclusive of NIC and Employers Pension Contributions and the breakdown below: 

- £Nil temporary agency fees to cover registration related work (2020 - £3,737); and 

- £2,202 long term sick pay and cover for staff member, whilst returning to work. 

The Society operates bank accounts in three currencies: Sterling, Euros and US Dollars. For audit purposes cash at bank balances are converted at financial year end market rates. The Society transacted throughout 2021 using a conversion rate of 1.3 euros = £1, the cash at bank balance on 31 October 2021 was converted at a rate of 1.18 = £1 resulting in a conversion loss of £6,540 (2020 – gain of £771). 

Overall the Society reported results of: 


## PERFORMANCE AGAINST BUDGET 

The Trustees set a new budget each year and review performance at year end against that budget. 

- Expected income for 2021 was £416,750, with the actual income being £627,580 

- Expected income for 2020 was £407,175, with the actual income being £408,158 

- Expected income for 2019 was £653,000, with the actual income being £654,156. 

## **RESERVES POLICY** 

The Trustees have an agreed Reserves Policy that is reviewed annually. At the Trustees' meeting on 30 January 2011, it was considered that in view of the increased levels of activity recently the working cash reserves should be between £100,000 and £200,000 and designated reserves to £500,000 should be built. 

Additionally, in 2016 and confirmed again in January 2017, the Trustees approved an amount of £125,000 to be included within these designated reserves, described as 'Trials Support' for the next four years to support the National Trials Committees - under 'Future Funding'. 

Page 10 



## **INTERNATIONAL SHEEP DOG SOCIETY** 

**TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2021** 

The Society raised £31,556 in 2001/02 from member donations to an emergency appeal for sufficient working capital to continue operating. This fund has grown to £42,915 (2020 - £42,915) in 2021 and is held as a restricted reserve identified as the 'Chairman's Appeal 2001 Account'. 

The Bequests Reserve Fund now stands at £97,824 (2020 - £97,812). The Trustees have identified Investment Reserves which currently stand at £143,554 (2020 - £143,554). This gives a Designated Funds total of £366,382 (2020 - £366,366) including the £125,000 ring-fenced as trials support. This Designated Fund is necessary to ensure the continuity of the Society in the event of the suspension of the trials for two successive years for whatever reason, for example a national infectious disease in sheep. 

The remaining sum in the General Funds for 2021 is £287,915 (2020 - £296,302). Of this, £50,531 (2020 - £51,445) is represented by stock, broadly one-quarter in Stud Books and three-quarters in other goods for resale. The working cash reserve (cash at bank, plus debtors, less creditors, less designated funds) of £277,636 (2020 - £284,900) is within the working range identified as prudent and thus there is no surplus for disposal. 

## **INVESTMENT POLICY AND RETURNS** 

The Society’s investment policy is to invest the monies not immediately required for its purposes in or upon such investments as may be thought fit. 

## **FUTURE DEVELOPMENTS** 

Moving forward the Society is acting on the findings of the Governance review.  A new CEO was appointed and started on the 1[st] December 2021. An office Manager role was created to oversee the running of the office on a daily basis and to help improve eff iciencies.  A complete review of all IT related systems is underway, with a view to upgrades being visible half way through 2022. 

A complete update to the Constitution will be seen throughout 2022, with many amendments approved at the time of writing this report. 

The Society will see a return to the producing of Pedigrees, which is a crucial part of the societies objectives in maintaining the integrity of the breed. 

The Society hopes to increase exposure of Sheep Dog Trialing and the associated training benefits to the work of the Sheep Dog and Shepherd, through increased Social Media presence and live streaming of trials. 

## **FUNDS HELD AS CUSTODIAN** 

These accounts should report as a total of zero, for funds held as custodian, e.g. Trials accounts amounts for the organising of National Trials. 

## **TRUSTEES’ RESPONSIBILITIES STATEMENT** 

The Trustees 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). 

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to: 

Page 11 



## **INTERNATIONAL SHEEP DOG SOCIETY** 

## **TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 OCTOBER 2021** 

- Select suitable accounting policies and then apply them consistently; 

- Observe the methods and principles in the Charities SORP; 

- Make judgements and accounting estimates that are reasonable and prudent; 

- State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 

…………………………………………… 

**Mr I L Fleming** Chairman 

Date: 

Page 12 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF INTERNATIONAL SHEEP DOG SOCIETY** 

## **Opinion** 

We have audited the financial statements of International Sheep Dog Society (the 'charity') for the year ended 31 October 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 October 2021 and of its incoming resources and application of resources, including its income and expenditure for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the Trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustee are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

Page 13 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF INTERNATIONAL SHEEP DOG SOCIETY (CONTINUED)** 

We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: 

- the information given in the financial statements is inconsistent in any material respect with the Trustee's Report; or 

- the charity has not kept adequate accounting records; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of Trustees** 

As explained more fully in the Trustees' Responsibilities Statement as set out on pages 11 & 12, the T rustees areresponsible for the preparation of the financial statements and for being satisfied that they give a true and fair view and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

## **Auditors' responsibilities for the audit of the financial statements** 

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Page 14 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF INTERNATIONAL SHEEP DOG SOCIETY (CONTINUED)** 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

- Obtaining and understanding of the legal and regulatory frameworks that the Charity operates in, focusing on those laws and regulations that have a direct effect on the financial statements; 

- Enquiring of management and Trustees around known or suspected instances of non-compliance of laws and regulations and fraud; 

- Discussing among the engagement team regarding how and where fraud might occur in the financial statements and any potential indications of fraud; 

- Reviewing minutes of meetings of those charged with governance; 

- Reviewing Financial Statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and 

- Performing audit work in relation to the risk of management override, including testing of journal entries and other adjustments for appropriateness and reviewing accounting estimates for bias. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. 

## **Use of our report** 

This report is made solely to the charity Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity Trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its members, as a body, for our audit work, for this report, or for the opinions we have formed. 

## **MHA MacIntyre Hudson (Statutory Auditors)** 

Leicester, United Kingdom 

## Date: 

MHA MacIntyre Hudson are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. 

Page 15 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2021** 

|**Note**<br>**Income from:**<br>Donations and legacies<br>2<br>Charitable activities<br>3<br>Other trading activities<br>4<br>Investment income<br>5<br>**Total income**<br>**Expenditure on:**<br>Raising funds<br>6<br>Charitable activities<br>7<br>**Total expenditure**<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>Net movement in funds<br>**Total funds carried forward**|**Designated**<br>**funds**<br>**2021**<br>**£**<br>**-**<br>**-**<br>**-**<br>**16**<br>**16**<br>**-**<br>**-**<br>**-**<br>**16**<br>**366,366**<br>**16**<br>**366,382**|**Restricted**<br>**funds**<br>**2021**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**42,915**<br>**-**<br>**42,915**|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>**4,541**<br>**573,935**<br>**48,539**<br>**549**<br>**627,564**<br>**18,222**<br>**617,729**<br>**635,951**<br>**(8,387)**<br>**296,302**<br>**(8,387)**<br>**287,915**|**Total**<br>**funds**<br>**2021**<br>**£**<br>**4,541**<br>**573,935**<br>**48,539**<br>**565**<br>**627,580**<br>**18,222**<br>**617,729**<br>**635,951**<br>**(8,371)**<br>**705,583**<br>**(8,371)**<br>**697,212**|Total<br>funds<br>2020<br>£<br>1,867<br>357,909<br>47,672<br>2,577<br>410,025<br>22,265<br>419,426<br>441,691<br>(31,666)<br>737,249<br>(31,666)<br>705,583|
|---|---|---|---|---|---|



The Statement of Financial Activities includes all gains and losses recognised in the year. 

The notes on pages 19 to 34 form part of these financial statements. 

Page 16 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **BALANCE SHEET AS AT 31 OCTOBER 2021** 

|**Note**<br>**Fixed assets**<br>Tangible assets<br>12<br>Investments<br>**Current assets**<br>Stocks<br>14<br>Debtors<br>15<br>Cash at bank and in hand<br>20<br>Creditors: amounts falling due within one<br>year<br>16<br>**Net current assets**<br>**Total net assets**<br>**Charity funds**<br>Designated funds<br>17<br>Restricted funds<br>17<br>Unrestricted funds<br>17<br>**Total funds**<br>13<br>**Current Liabilities**|**50,531**<br>**94,684**<br>**600,807**<br>**746,022**<br>**(51,473)**|**2021**<br>**£**<br>**2,663**<br>**-**<br>**2,663**<br>**694,549**<br>**697,212**<br>**366,382**<br>**42,915**<br>**287,915**<br>**697,212**|51,445<br>52,664<br>635,792<br>739,901<br>(37,190)|2020<br>£<br>2,872<br>-|
|---|---|---|---|---|
|||||2,872<br>702,711|
|||||705,583|
|||||366,366<br>42,915<br>296,302|
|||||705,583|



The financial statements were approved and authorised for issue by the Trustee and signed on their behalf by: 

................................................ 

**Mr I L Fleming** Chairman 

## Date: 

The notes on pages 19 to 34 form part of these financial statements. 

Page 17 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2021** 

|**Note**<br>**Cash flows from operating activities**<br>Net cash used in operating activities<br>19<br>**Cash flows from investing activities**<br>Interest received<br>5<br>Purchase of tangible fixed assets<br>12<br>**Net cash (used in)/provided by investing activities**<br>**Change in cash and cash equivalents in the year**<br>Cash and cash equivalents at the beginning of the year<br>20<br>**Cash and cash equivalents at the end of the year**<br>20<br>The notes on pages 19 to 34 form part of these financial statements|**2021**<br>**£**<br>**(33,877)**<br>**533**<br>**(1,641)**<br>**(1,108)**<br>**(34,985)**<br>**635,792**<br>**600,807**|2020<br>£<br>(55,662)<br>2,577<br>(710)<br>**1,867**<br>**(53,795)**<br>689,587<br>635,792|
|---|---|---|



Page 18 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **1. Accounting policies** 

## **1.1 Basis of preparation of financial statements** 

International Sheep Dog Society is an unincorporated Charity registered with the Charity Commission, registration number 209009, in England and Wales. 

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. 

International Sheep Dog 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. 

The Charity's functional and presentational currency is British Pounds Sterling (£) and and figures are rounded to the nearest £. 

The registered office is Clifton House, 4a Goldington Road, Bedford, MK40 3NF. 

## **1.2 Going concern** 

The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. 

This consideration has taken into account the expected impact of Covid-19 on the charity, as far as it can be determined, and the Trustees remain satisfied that the going concern principle remains appropriate. 

## **1.3 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 income receivable can be measured reliably. 

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. 

## **1.4 Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. 

Page 19 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **1. Accounting policies (continued)** 

## **1.4 Expenditure (continued)** 

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. 

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. 

Governance costs are incurred in connection with administration of the Charity and compliance with constitutional and statutory requirments. 

All expenditure is inclusive of irrecoverable VAT. 

## **1.5 Interest receivable** 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 

## **1.6 Operating leases** 

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term. 

## **1.7 Foreign currencies** 

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date. 

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. 

Exchange gains and losses are recognised in the Statement of Financial Activities. 

## **1.8 Pensions** 

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. 

## **1.9 Tangible fixed assets and depreciation** 

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. 

Page 20 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **1. Accounting policies (continued)** 

## **1.9 Tangible fixed assets and depreciation (continued)** 

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. 

Depreciation is provided on the following bases: 

- Office equipment 15% reducing balance and 33% straight line - Computer equipment 33% straight line 

## **1.10 Investments** 

The Society's investment in WSN Publications has been bought in stages and is stated at cost less amortisation. Amortisation is provided at rates calculated to write off the cost of the asset, over it's expected useful life. 

## **1.11 Stocks** 

Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 

## **1.12 Liabilities and provisions** 

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. 

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 

## **1.13 Financial instruments** 

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

## **1.14 Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. 

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. 

Page 21 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **1. Accounting policies (continued)** 

## **1.14 Fund accounting (continued)** 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

Investment income, gains and losses are allocated to the appropriate fund. 

## **2. Donations and legacies** 

|Members donations<br>Legacies<br>**Total 2021**<br>Legacies|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>68<br>4,473<br>4,541<br>Unrestricted<br>funds<br>2020<br>£<br>1,867|**Total**<br>**funds**<br>**2021**<br>**£**<br>**68**<br>**4,473**<br>**4,541**|
|---|---|---|
|||Total<br>funds<br>2020<br>£<br>1,867|



## **3. Charitable activities** 

||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2021**|**2021**|
||**£**|**£**|
|Charitable activities|573,935|**573,935**|



Page 22 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **3. Charitable activities (continued)** 

|Charitable activities<br>Registration and Stud book fees<br>Membership subscriptions<br>Trials income<br>Magazine income<br>Miscellaneous income|Unrestricted<br>funds<br>2020<br>£<br>357,909<br>**2021**<br>**£**<br>**218,310**<br>**103,017**<br>**159,358**<br>**93,250**<br>**-**<br>**573,935**|Total<br>funds<br>2020<br>£<br>357,909|
|---|---|---|
|||2020<br>£<br>178,884<br>88,550<br>1,322<br>88,781<br>372<br>357,909|



## **4. Other trading activities** 

|Sponsorship and business activities<br>Sales of goods and Stud books<br>**Total 2021**<br>Sponsorship and business activities<br>Sales of goods and Stud books<br>Total 2020|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>15,297<br>33,242<br>48,539<br>Unrestricted<br>funds<br>2020<br>£<br>16,675<br>30,997<br>47,672|**Total**<br>**funds**<br>**2021**<br>**£**<br>**15,297**<br>**33,242**<br>**48,539**|
|---|---|---|
|||Total<br>funds<br>2020<br>£<br>16,675<br>30,997<br>47,672|



Page 23 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **5. Investment income** 

|Investment income<br>Investment income|**Designated**<br>**funds**<br>**2021**<br>**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>**£**<br>16<br>549<br>Designated<br>funds<br>2020<br>Unrestricted<br>funds<br>2020<br>£<br>£<br>218<br>2,359|**Total**<br>**funds**<br>**2021**<br>**£**<br>**565**|
|---|---|---|
|||Total<br>funds<br>2020<br>£<br>2,577|



## **6. Raising funds** 

|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>Purchase of goods and Stud books<br>18,222<br>Unrestricted<br>funds<br>2020<br>£<br>Purchase of goods and Stud books<br>22,265|**Total**<br>**funds**<br>**2021**<br>**£**<br>**18,222**|
|---|---|
||Total<br>funds<br>2020<br>£<br>22,265|



Page 24 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **7. Charitable activities** 

|Direct costs<br>Direct costs<br>**Analysis of direct costs**|**Activities**<br>**undertaken**<br>**directly**<br>**2021**<br>**£**<br>617,729<br>Activities<br>undertaken<br>directly<br>2020<br>£<br>419,426|**Total**<br>**funds**<br>**2021**<br>**£**<br>**617,729**<br>Total<br>funds<br>2020<br>£<br>419,426|
|---|---|---|



|Staff costs (note 10)<br>Trials costs<br>Meeting and travelling<br>Office rent, rates and services<br>Office operation and materials<br>Magazine costs<br>Professional charges<br>Donations and general expenses<br>Bank and finance charges<br>Depreciation of tangible assets<br>Exchange losses/(gains)<br>Insurance<br>Bad debts<br>Governance costs|**Total**<br>**funds**<br>**2021**<br>**£**<br>**216,756**<br>**144,472**<br>**98**<br>**29,649**<br>**44,273**<br>**80,163**<br>**50,333**<br>**1,725**<br>**14,888**<br>**1,850**<br>**6,540**<br>**17,313**<br>**(3,410)**<br>**13,079**<br>**617,729**|Total<br>funds<br>2020<br>£<br>181,522<br>10,479<br>10,043<br>30,518<br>42,468<br>75,678<br>14,588<br>13,920<br>11,504<br>4,746<br>(771)<br>13,841<br>-<br>10,890<br>419,426|
|---|---|---|



Page 25 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **8. Summary by expenditure type** 

|**Staff costs**<br>**2021**<br>**£**<br>Raising funds<br>-<br>Charitable activities<br>216,756<br>**Total 2021**<br>216,756<br>Staff costs<br>2020<br>£<br>Raising funds<br>-<br>Charitable activities<br>181,522<br>Total 2020<br>181,522<br>**9.**<br>**Auditors' remuneration**<br>Fees payable to the Charity's auditor for the audit of the Charity's annual<br>accounts<br>Fees payable to the Charity's auditor in respect of:<br>All non-audit services not included above<br>**10.**<br>**Staff costs**<br>Wages and salaries<br>Social security costs<br>Pension costs|**Other costs**<br>**2021**<br>**£**<br>18,222<br>389,110<br>407,332<br>Other costs<br>2020<br>£<br>22,265<br>237,904<br>260,169<br>**2021**<br>**£**<br>**10,204**<br>**175**<br>**2021**<br>**£**<br>**197,188**<br>**18,137**<br>**1,431**<br>**216,756**|**Total**<br>**funds**<br>**2021**<br>**£**<br>**18,222**<br>**605,866**<br>**624,088**|
|---|---|---|
|||Total<br>funds<br>2020<br>£<br>22,265<br>419,426<br>441,691|
|||2020<br>£<br>9,345<br>168|
|||2020<br>£<br>165,123<br>14,064<br>2,335|
|||181,522|



Included within wages and salaries is £2,202 (2020: £3,737) of agency costs. 

Page 26 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **10. Staff costs (continued)** 

During the year the International Sheep Dog Society made a payment of £7,500 to a former employee as settlement of their employment contract, which was approved by the Trustees. 

During the previous year the International Sheep Dog Society made a payment of £8,488 to the former Executive Officer as settlement of their employment contract, which was approved by the Trustees. 

The average number of persons employed by the Charity during the year was as follows: 

||**2021**|2020|
|---|---|---|
||**No.**|No.|
|Employees|**7**|6|



No employee received remuneration (excluding employer pension costs) amounting to more than £60,000 in either year. 

The Charity’s Key Management Personnel are the Trustees and Executive Officer. The total amount of employer benefits (including employer pension contributions and employers national insurance contributions) paid for services provided to the Charity by the Key Management Personnel amounted to £60,711 (2020: £54,773). 

## **11. Trustee's remuneration and expenses** 

During the year, no Trustees received any remuneration or other benefits (2020: £Nil). 

During the year ended 31 October 2021, expenses totalling £Nil were reimbursed or paid directly to no Trustees (2020: £1,377 to 5 Trustees) in respect of travel and subsistence. 

Page 27 



**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **12. Tangible fixed assets** 

|**Cost or valuation**<br>At 1 November 2020<br>Additions<br>Disposals<br>At 31 October 2021<br>**Depreciation**<br>At 1 November 2020<br>Charge for the year<br>On disposals<br>At 31 October 2021<br>**Net book value**<br>**At 31 October 2021**<br>At 31 October 2020|**Office**<br>**equipment**<br>**£**<br>**23,055**<br>**1,641**<br>**(712)**<br>**23,984**<br>**20,183**<br>**1,850**<br>**(712)**<br>**21,321**<br>**2,663**<br>2,872|**Computer**<br>**equipment**<br>**£**<br>**34,300**<br>**-**<br>**-**<br>**34,300**<br>**34,300**<br>**-**<br>**-**<br>**34,300**<br>**-**<br>-|**Total**<br>**£**<br>**57,355**<br>**1,641**<br>**(712)**<br>**58,284**<br>**54,483**<br>**1,850**<br>**(712)**<br>**55,621**<br>**2,663**<br>2,872|
|---|---|---|---|



Page 28 



**INTERNATIONAL SHEEP DOG SOCIETY** 

|**NOTES TO THE FINANCIAL STATEMENTS**<br>**FOR THE YEAR ENDED 31 OCTOBER 2021**||
|---|---|
|**13.**<br>**Fixed asset investments**<br>**Cost or valuation**<br>At 1 November 2020<br>**At 31 October 2021**<br>**Impairment**<br>At 1 November 2020<br>**At 31 October 2021**<br>**14.**<br>**Stocks**<br>Stud books<br>Goods for resale<br>**15.**<br>**Debtors**<br>Trade debtors<br>Other debtors<br>Prepayments and accrued income<br>At 31 October 2020<br>**At 31 October 2021**|**Other**<br>**investments**<br>**£**<br>**16,000**<br>**16,000**<br>**16,000**<br>**16,000**<br>**2021**<br>2020<br>**£**<br>£<br>**7,767**<br>6,511<br>**42,764**<br>44,934<br>**50,531**<br>51,445<br>**2021**<br>2020<br>**£**<br>£<br>**12,027**<br>9,657<br>**57,274**<br>17,077<br>**25,383**<br>25,930<br>**94,684**<br>52,664<br>-<br>**-**|



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**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **16. Creditors: Amounts falling due within one year** 

|Trade creditors<br>Other taxation and social security<br>Other creditors<br>Accruals and deferred income<br>Deferred income at 1 November 2020<br>Resources deferred during the year<br>**Deferred income at 31 October 2021**|**2021**<br>**£**<br>**9,593**<br>**10,084**<br>**280**<br>**31,516**<br>**51,473**<br>**2021**<br>**£**<br>**5,000**<br>**-**<br>**5,000**|2020<br>£<br>5,260<br>11,431<br>2,840<br>17,659|
|---|---|---|
|||37,190|
|||2020<br>£<br>-<br>5,000|
|||5,000|



At the balance sheet date the Charity was holding funds received in advance for Trials expected to take place in the next financial year. 

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**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **17. Statement of funds** 

|**Statement of funds**|||||
|---|---|---|---|---|
|**Statement of funds - current year**<br>**Unrestricted funds**<br>General funds<br>**Designated funds**<br>Bequests reserve fund<br>Investment reserve fund<br>Trials support fund<br>**Restricted funds**<br>Chairman's Appeal 2001 Account<br>**Total of funds**|**Balance at 1**<br>**November**<br>**2020**<br>**£**<br>**296,302**<br>**97,812**<br>**143,554**<br>**125,000**<br>**366,366**<br>**42,915**<br>**705,583**|**Income**<br>**£**<br>**627,564**<br>**12**<br>**4**<br>**-**<br>**16**<br>**-**<br>**627,580**|**Expenditure**<br>**£**<br>**(635,951)**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**(635,951)**|**Balance at**<br>**31 October**<br>**2021**<br>**£**<br>**287,915**|
|||||**97,824**<br>**143,558**<br>**125,000**<br>**366,382**|
|||||**42,915**|
|||||**697,212**|



The specific purposes for which the funds are to be applied are as follows: 

## **Unrestricted funds** 

Unrestricted funds are to be used towards meeting any of the charitable objectives of Society at the discretion of the Trustees. 

## **Designated funds** 

Designated funds are held to ensure the continuity of the Society in the event of suspension of trials for two successive years for whatever reason; for example a national infectious disease in sheep. 

## **Restricted funds** 

Restricted funds include the Chairman's Appeal 2001 which was an emergency appeal for sufficient working capital to continue operating the Charity. 

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**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **17. Statement of funds (continued)** 

## **Statement of funds - prior year** 

|Balance at<br>1 November<br>2019<br>£<br>**Unrestricted funds**<br>General funds<br>328,186<br>**Designated funds**<br>Bequests reserve fund<br>97,464<br>Investment reserve fund<br>143,684<br>Trials support fund<br>125,000<br>366,148<br>**Restricted funds**<br>Chairman's Appeal 2001 Account<br>42,915<br>**Total of funds**<br>737,249<br>**18.**<br>**Analysis of net assets between funds**<br>**Analysis of net assets between funds - current year**|Income<br>£<br>409,807<br>348<br>(130)<br>-<br>218<br>-<br>410,025|Expenditure<br>£<br>(441,691)<br>-<br>-<br>-<br>-<br>-<br>(441,691)|Balance at<br>31 October<br>2020<br>£<br>296,302|
|---|---|---|---|
||||97,812<br>143,554<br>125,000<br>366,366|
||||42,915|
||||705,583|
|||||



|Tangible fixed assets<br>Current assets<br>Current liabilities<br>**Total**|**Designated**<br>**funds**<br>**2021**<br>**£**<br>-<br>366,382<br>-<br>366,382|**Restricted**<br>**funds**<br>**2021**<br>**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>**£**<br>-<br>2,663<br>42,915<br>329,935<br>-<br>(44,683)<br>42,915<br>287,915|**Total**<br>**funds**<br>**2021**<br>**£**<br>**2,663**<br>**739,232**<br>**(44,683)**<br>**697,212**|
|---|---|---|---|



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**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **18. Analysis of net assets between funds (continued)** 

## **Analysis of net assets between funds - prior year** 

|Tangible fixed assets<br>Current assets<br>Current liabilities<br>**Total**|Designated<br>funds<br>2020<br>£<br>-<br>366,366<br>-<br>366,366|Restricted<br>funds<br>2020<br>£<br>-<br>42,915<br>-<br>42,915|Unrestricted<br>funds<br>2020<br>£<br>2,872<br>330,620<br>(37,190)<br>296,302|Total<br>funds<br>2020<br>£<br>2,872<br>739,901<br>(37,190)<br>705,583|
|---|---|---|---|---|



## **19. Reconciliation of net movement in funds to net cash flow from operating activities** 

|Net expenditure for the year (as per Statement of Financial Activities)<br>**Adjustments for:**<br>Depreciation charges (note 12)<br>Interest received (note 5)<br>(Increase)/decrease in stocks (note 14)<br>Increase in debtors (note 15)<br>Increase/(decrease) in creditors (note 16)<br>**Net cash used in operating activities**|**2021**<br>**£**<br>**(8,371)**<br>**1,850**<br>**(533)**<br>**914**<br>**(42,020)**<br>**14,283**<br>**(33,877)**|2020<br>£<br>(31,666)|
|---|---|---|
|||4,746<br>(2,577)<br>1,594<br>(16,151)<br>(11,608)|
|||(55,662)|



## **20. Analysis of cash and cash equivalents** 

|Cash in hand<br>**Total cash and cash equivalents**|**2021**<br>**£**<br>**600,807**<br>**600,807**|2020<br>£<br>635,792|
|---|---|---|
|||635,792|



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**INTERNATIONAL SHEEP DOG SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021** 

## **21. Analysis of changes in net debt** 

|Cash at bank and in hand|**At 1**<br>**November**<br>**2020**<br>**£**<br>**635,792**<br>**635,792**|**Cash flows**<br>**£**<br>**(34,985)**<br>**(34,985)**|**At 31**<br>**October**<br>**2021**<br>**£**<br>**600,807**<br>**600,807**|
|---|---|---|---|



## **22. Pension commitments** 

The Charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £1,431 (2020: £2,335). Contributions totalling £436 (2020: £2,840) were payable to the fund at the reporting date. 

## **23. Operating lease commitments** 

At 31 October 2021 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows: 

|Not later than 1 year<br>Later than 1 year and not later than 5 years|**2021**<br>**£**<br>**13,884**<br>**-**<br>**13,884**|2020<br>£<br>15,895<br>1,770|
|---|---|---|
|||17,665|



## **24. Related party transactions** 

The Charity received services from Matt Vickery, husband of the former CEO Helen Vickery in respect of a GDPR review and an IT report amounting to £18,378. 

No other related party transactions took place in the year to 31 October 2021 or the year to 31 October 2020 other than expenses paid to the Trustees as per note 11. 

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