REGISTERED CHARITY NUMBER.. 209009 Report of thÈ Tw$t¢e$ and Financial StatÈments for the Year Ended 31 May 2025 INTERNATIONAL SHEEP DOG SOCIETY Salisbury & Company i*51nesS SolulK)ns Limited Insh Square Upper DÈnboh Road st A5aph DenbhshIIe LL170RN Page 10132
INTERNATIONAL SHEEP DOG SOCIETY Content5 01 the Financial Statements for the year ended 31 May 2025 Page Report of the Trustees 3 10 14 Report ol the Independent Audittsr5 15 10 11 statement ol Financial Actrvtties 18 Balance Sheèt 19 Cash Flow Statement 20 Notes to the Cash Flow Statement 21 Notes to the Finan¢ial Statements 22 to 31 Detailed Ststement ol Financial Activities 31 to 32 Page 2 0132
INTERNATIONAL SHEEP DOG SOCIETY
Report ol the Tru$tet$
for the year ended 31 May 2025
The Trustees psent their Annual Report. together vath the aud11ed Financi41 Slaternenls of The International Sheep
Dog Society Ilhe Char4ty1 for Ihe peri(xJ ended 31 May 2025. The Trustees confirm that the Annual Repori and Financial
StatenIs of the Charity comply with the Curn1 stalulory requirnents, Ihe requirements of the Chanty's governing
document an(J the provisions ol the Slalemenl of Re¢ommended Pra¢le ISORPI"Charilies SORP IFRS 1021".
OBJECTIVES AND ACTIVITIES
Objectives and aclivilies
'TO PROMOTE AND FOSTER THE BREEDING. TRAINING ANO IMPROVEMENT IN THE INTERESTS AND FOR
THE WELFARE OR 8ENEFIT OF THE COMMUNITY OF THE BREEDS OR STRAINS OF SHEEP DOGS, TO SECURE
THE 8ETTER MANAGEMENT OF STOCK BY IMPROVING THE SHEPHERD'S DOG, ANO TO ACHIEVE SUCH MAIN
08JECT BY SUCH MEANSAS THE SOCIETY MAY FROM TIME TO TIME DETERMINE."
AIMS=
To rnaximise the number of members so Ihal the a¢lThfits and work of Ihe Society may increas
Fir51
INTERNATIONAL SHEEP DOG SOCIETY Report of the Tiu$teÈ$ for the year ended 31 May 2025 National Tria15 and Public Reach. Nationals and International Tiials well run Sèason In 2024 delwered slrong tnaL8 across the HON Nalions. CLn¢11 noted thal National Trials experienced "a really successful and lovety yearf with Ihe finances having a significantly posilive impact on the Society's Dverall funds. Taals In 2024 conlnbuted a surplus of £82.639 and reaffirmed the expeclatK)n that local corntnillees need io plan budgets thal perform in a fundtsising manner for the Sooety. Public prolile and covefage The Society renewed ils relationship wlh broadcast media.. B8C Counlryfile confi'med filming al Ihe Intemalion81, providing national profile and a cortsslenl annual slot to showcasÈ workin9 sheepdogs and han(Jlers. Live5trearn & social channels Livestream planning con11nued Into wnler. after anolher successfrjl uptake of subscribers during the 2024 Irial season. 11 Is proving to be a well delNered and valued servitÈ. which. il Is hoped will conlinuÈ lo grow In popularity as we head lowar(Js the Wodd Trial 2026. In parallel, social accounl verification fblue tick5"1 were expkjred for the main ISDS. Inlemalional and Worfd Trial pages lo strengthen trust and reach. There Is a recurriryj and ongoing problem with fake "profiles" being created. leading people lo Illegilimale pages offering mer¢handise. Ii¢kel sales and SI)mIng packages, whi¢h a not through the ISDS Tho Society can have a maximurn of three verified page5. which do come al a c051. bul il 15 fell Ih15 15 needed, due lo the risk posed to tnernbers and followers. A5 a result the Main ISDS Page, Inlemalional Page and Worfd Trial Page all have verilied status. Followings are growing. and Ihe Sty Is workiro lo reduce Ihe number of non-official pages. educaling the members and working lo create carfy Idenb"fiable page5 for metnber5 and inteste£l partie5 to folk)w. safely Membershlp & Magatine IISNI Membership review Council progressed a mulli stage wiew to simplify membefship and alKJn the rules with rollin9 136S4ayl membership an(1 current practice. Outdated text in the rulebwk wa5 113gged for replacetnenl by a clear lable of metnbership types and benefits. The number of ¢alegoriÈs of membership were reduced lo prDvide equity acltsss the c3legories. PrIS were reviewed. takin9 Into con51deration the fact that there had only been postage costs increases applied lo rnetnbership In a 15-year penod. Ssgnificanl membership dscounls are offed for Livestam1ng. and lhe was a Cleaning up ol parkingladmission li¢kel policy for National Tria15. to tnake SU Mernber5 are being charged Incorrectly for wjfflission, and equalty th31 non- rnetnber5 are charged for adrnissK)n land parking If that Is Ihe comrnitt8e's policy). PartnÈr benefits To add tangible value beyotKI Inal partKipatD. COU[11 agreed to devdop tnetnber otter5 with Agna linsurancel and explored Peddy Math Imicrochipsl for breeder5-both aimed al broadening relevance ID rnernbers who work dogs bul don't necessarily trial. This work Is ongoing and hopÈs lo be seen actsvÈ In Ihe 202516 year. ISN Editoriallcontent direction Council supported conlinued dwer51ficalion of ISN conlenl baL3nring resulis and analysis with training lealure5. member stories and industry Insights so the magazine remains an engaging read for Ihe whole community. 11 is fell Ihal the 4 Issues a year has been reteived well arKI ks helping wilh Ihe burden ol ¢osl. from prinlin9 and posting 6 Issues a year. Sponsorshlp & Partnership$ Structured outreach Tho Sponsorship Coffltnillee prodUd a brochure atKI Sel a sin9le conlact approach for polenlial swnsors-particularly lor ¢otnpanies that gel approached across country by local Irial commillees. There was an effoTI lo approach new cotnpanies al county shows, with fOlW up and relationship buil(Jtng ongoing. Part of Ihe alm is lo avoid duplicalion and ensure 2 professional ImpressK)n. Gilbertson & Page Principal Sponsor Council reviewe(J the headline values lor the reffed sponsor agreemenl and confirmed rin9 fenced support for the World Trial within the overall arrangement. new a9ment sees the 29 year paftr*rship been the ISDS and Page 4 of 32
INTERNATIONAL SHEEP OOG SOCIETY
Report tsf the Trustees
for the year ended 31 May 202S
Gilbertson & Page extend to 2029. If there is a Workl Trial in 2029 thi5 is for separate negotiation. Th8 Society is
delighted lo extend this valued fÈlalionship IDr anothei 5 years 2025-2029.
Modernising Services & Systems
Digital rÈ9lStratlL)n ¢ertificates
Woik 3dv3nced with the Society'5 sofh¥arÈ provKJÈr towards deliverit¥J digital registration and certificate features. to
Include QR cod&s unique lo each dog Ihat ¢an be refreshed on transfei.
Plan5 continue to evolve lor rTK)re offerIS to be made for nrnbe ¥thin the NtyISOS Metnber Portal. Further
Increa51ng the value of Membership.
Governance & Financial Stewardship
New Chairman. Vice Chaimian #nd Council members.
Part w3y through the financial year In February Ihe Society saw a chatwje over of Chairrnan, Vice Chairtnan. Scottish
National President and 4 membefs ol Counul. All In line wilh the Conslilulion. bul Il was the fir51 time Iher? had been so
many changes for over 4 yÈars. Malters amoThJ5t COU11 contin¢Jed steadily for the rest of the year.
Management Accounts and monthly rÈporting.
Through Ihe year the office lightened daity paytnenl checks and Improved payment referÈnting. which shortened monlh
end reconciliation cycles and acceleraled the production of marbagemenl a¢¢ounts adY for shann9 with Counul and
Accountants Iquarterlyl. The MatchIr of paymen1$ has been a ptDblem in the past. so this Is swJnificant progress.
There has now been a year ol ¢he¢king the reporting arKJ a year ol data is now on the rfftl Xero system. enabling prior
year comparis. for monilonng pr(xJress toward5 a year end positi(l_
The nexl st8p will be to add ¢hÈ Socty Budg&l lo Xero, 50 tnanagemenl accounts can be monitored against budgel and
pnor y8ar.
Budget oversight for trials
Wilh the above-menlionÈd pro9$$. the linking of NatK)nal Trial Accounts io Ihe iely's Xero. has Increased
signilicanlly the over51ghl of National Trial Accounts and balanc.
There ts a need for more tnal budgeting to help plan cash flow and determine il a Ifial is likety to be able lo bieak-8ven or
r8lurn some fLJnds to the Society. when overall SLKiety bJdgeting is being re@wed.
Council agree(I that National Pre51den15 1sUPPOrted by Senior and Junior VP515houkl Stay close lo trial budgel5-
balancing aulonomy with slroroer visibility on spending-so the whole Sowty avoi(Js late financial surprises.
ResÈrvÈs managmenl
Papepwork has progressed lo update all tho vancAJs bank a¢¢ounts that Ihe ScKiety has, tnany of which are funds which
have tnalured. The plan is lo use IhÈ Flagstone Cash fflanagernenl porlal lo spread fLnds across lerm accounts,
improving inleresl while keeping sullicienl INuKlIty lo meel Society policy. Al whilsl being managed tlirough one easy lo
control portal. With tho a
INTERNATIONAL SHEEP OOG SOCIETY Report of the Trustees for the year ènded 31 May 2025 Audit arrangements Al the Annual DirPclo Meeting IADMI. Difeclor5 We infomed of the need fof independent audit providors In futu years, the maller wa5 raised as a result ol aeknowledging Ihal Camerons Aceounlanls have betome loo tlosè Ic> th Soc1ety Ihrough their PiK)r support wilh InlÈgralion Wofk. The1efts, there was a tnove lo Salisbury'5 Accounlanls In Rulhin. Wales. for the Audil. after seeking quotes fforn 4 cornpanies. whilst the accounts Pfeparalion stays with Camerons. Rules & Registration on Merit IROMI ROM palhway update Following th& extended di5CUS5K)n about Regis1ratn on Meril presSeS al the 2025 Annual Directors Meeting, there ha5 been a w1dening ol reh lo Directors. assÈssing ROM dogs. The a sbll some being done via vKleo. We are working towards example videtss. lo help pIe with Ihè pr$s, part¢ulady those who are new lo it. The Office The Society Head offir£ Is sbll localÈd In Bedfor(l. a furthei kn-year lease wa5 TEgolialed on the office. taking 11 lo April 2027. Throughout 2026 the FAaTI is lo seek a new pMiseS which better suits Ihe need5 of Society operations, as they are today. Where hybrid or remote working can adopted. hardwarÈ has reduced In soe and slafl numb&rs are reduced, there is Iherefore and need lo review and seÈ il a SMalr working S¢É will at¢ommodale the leHm and save monoy. The shop and stock. also need lo be k)¢aled on Ihe groun(J flr. having particularfy learned this froni the 2025 season where Ihe onty lift in the builtjing failed on the day Ihe van was lo be kjaded for trials. The Regislralions OfticÈrs all have al least 4 yeats. exper*rLce now. and are efficEnl al their role5. We are seeing very posilive limelinÈs on rÈluming members. WOTk The Inveslmenl into new system5 enables Ihis progress. Public benefit A5 oullined in the ISDS goveming duMent, Ithe consti1utl, Ihe Trustees have had regard to Ihe Charily Commission guidance on public benefit. as per the purpose of IhÈ ISDS lo primote and f051er Improvetnenls In breeditvj. Iraining. handlin9 and welfare DI sheep dogs. This Is achieved In Ihe folk)wing ways." Using careful breeding practices and promolirvj these In exhibilKJns or ¢(mKetilive lor non<ompelilivel Inalling events linclusivÈ of rulingl-. The pUblall0 of the Slud Book lo venfy bree(jIr and guklance lo Shepherd's. farmers and skbreederS on all In311e pertaining to the above.. and Includiro developin9 and Investin9 in the ialeresl ofyoury handler5. in the Society traditions and tiaining. Volunleers The Society Is lolalty dependenl on volunteer mernbeF5. and olher volunt[5. for the operalK)n of 115 tnaior sheepclttg trials and raising funds for Ihtsse trials. They operale under the direction of a President and are deemed etvployees for insurance piJrp05es bul reNe no payinenl other than necessary OKnSeS when approved by Trials Secretaries. Treagurers arKVor Cornmittee members. or Council aftÈr revièw. Thè Society ollice is slafted only by paKI ernployees. The larger parl of the Sociews turnover is generated through the aclwilie5 01 the head oHice by providing a setyice for membÈrs. Page 6 of 32
INTERNATIONAL SHEEP DOG SOCIETY Report of the Trustees for th& year ended 31 May 2025 Fundraising The Society does not seek lo raise funds from IndwKJua15 aTMJ does not make USÈ ol any third party for this Purpose The Society Iherelofe does not seek lo comply wilh any voluntary slandafd rÈlaled lo fundraising No tomplainls have beern receive(I by the Society In connection with fundrai5in9. Thanks The Tru51ees thank our Directors. National PrÈsidents, commillees arKI volunleet5 for their Eomtnilrnenl throughout a busy year, the office team for disCilne dÈlivÈry and ttsnlinuou5 Itnprovefflenls, (yJr Sponsors and partners for the support Ihal helps the ISDS p[Orle and prolecl Ihe working sheepdog. Page 7 0132
FINANCIAL REVIEW Flnan¢lal position Activities In 202415 ronlinued in line wilh Ihe aims aTh1 obje¢lives lerred lo above and the Impacl of this Can be seen In the following section-. 2025 2024 2023 7-month p8riod 2022 E365.759 Total Incorne E781.654 £1.185.167 £632.333 Trials Income £266.253 E693.848 £169.893 Sales incorne- Income from regislralK¥n and s14KI b¢x>k fee5. atKI tnefflbersfvp subscnptions Shop £48,501 Magazi £66.491 Total £114.992 £66.747 £75.358 £142.105 £43.704 £81.998 £125.702 £16.129 £80.870 £96.999 Income from l$trat)n and Stud iK)ok fe8s. and membefship subscriptions Regislralion and Slud book fees Subscriptions Tota £235.953 £91.134 £327.087 £219.341 £78.070 £297.411 £227.666 £84.100 E311.766 £186.469 £80.839 f267.308 The nuTnber of dogs regislered In Ihe 202S Financial Year was 5877 The nutnber of dogs wislered In 2024 was 6.559. 2023 was 7.263. (the 7-monlh period to 2022 was 6.5971.12021 whole year was 7.9081.12020 6.B781. The Society received vo¢unt8ry donalions arN1 le9acy paymenls in Ihe 2025 year of £38,892, Ihis is split wilh donations lo trials of £37.301 and lega¢ies or olher donalions 01 £1.591.12024 £16.702. 2023 £151.17-month period 2022 - £1001 12021- £4,541). Other income 5tream8 wer8 similar in level to Ihe prh)r year. 7 month period to 2022 £358,108 £0 £144.991 2025 £705.284 £192.045 £222.212 2024 £1,136.224 £505.022 £251.638 2023 £153.259 E198.073 £235.322 Total expenditure Trials expÈndilure Office staff costs 2025 office staff costs a i1$e ol NIC and E0YS Pensxjn Contri1k)ns. W11hin the 20?415 Financial Year. Ihe then A5SiStanl io IhÈ CEO signed her post and I1 tnonlhs of April and May Saw no sa18ry paid lo an Assistant with only partial pay in March 2025. There Is still a neeil for the kniety lo Co[Je succession planning. as th8 registrations officÈr role Is a skilled role Ih31 Deed5 Irainitvj. Effort5 lo reduce overtin hou¢$ incurred have been effective. rnainty due lo improved 8ffiuencies. 11 has also been possible for more lime lo be taken as Time off In Lieu {TOILI. The Sociely has ceased to use Ihe forÈNJn a¢¢oun15 Other Ihan for banking Euros frotn Trials, and lo make payments In Euro8. 11 is not a main 0nt fof [neml[S to pay into. The US account is not being used currontly. For audit purposes cash al bank balan¢e5 that afe ITr Ihese accounts are converted al financial year markÈl rates. Thè Sotiely Iran53cled Ihrou9houl 202412025 using a daity spot rale ThÈ eash al bank balan¢È on 31 M3y 2025 w35 CDnveried al rate of 1.19 £1 resulting In a ¢onvÈrsion gain of £15612024 Ioss of £2711. Overall the Sooety K)rted result5 of.. 7 month period to 2D22 £7.651 surplus 2025 £76.370 suvplus 2024 £48.943 surplus 2023 £120.926 ¢Jefril Overall posilion 11 needs lo bo noted in lation to the overall tw)silions reflected alx)ve that there was a deosion taken by the Direclors 81 the 2024 Annual Dire¢lor5 Meeting lo brin9 the capital emndItre on Ihe l.T. Investment Into the Profil and Loss for tho year5 2023 and 2024 rather Ihan Incur depreciatson ovÈr a numtr of years. The Society 15 a "GThng CDncern" arKI will be earning Incorne against Ihal Investment for mÈny years lo ¢orne, bul has Incurred disproportM)nale cosls against the o years where the expendilure 15 Incurred. Bnnging the costs Into Ihe years ralhor than sprtsading tsver ari agreed nUmr ol yoats Is viewing Ihe accounts on a mind1-up. basis. However. the positive Irom Ihis is that tho cosl ol Ihe Investment 15 now cleared and the accounts should be able lo Improve going forward. 35 can be seen In 2025. Pa9e 8 Of 32
INTERNATIONAL SHEEP DOG SOCIETY Report of the Tru$tee$ for the year ended 31 May 2025 Inv05tment policy and returns The Society's Inveslmenl policy Is lo invest Ihe monies not Immediately required for ils purposes in or upon su investments as may be thought lit. Reserves policy The Trustees have an agreed Reseryes Policy Ihal Is reviewed annually. Al the Trustees, meeling on 30 January 2011. il was considered that in view of the increased ol a¢livity renIty the working ¢ash reserves should be between E100.000 and £200.0) and designated reseNes lo £500.(KK) should be built. Unrestricted fund5 Th& MainIng sum in the General Funds for 2025 Is £262.47912024 £205.2121. 01 this. £35.60912024 - £38.4401 Is represented by slo¢k. broadly one-ouarter in Slud Book5 and Ihree-uuarter5 ln other gcKls fof resale. The working cash re5eTve (cash al bank. plu5 debtors. le55 creditors. less designated funds) of £243,562 12024 £180,714) 15 within the working rarye identified as prudent and thus there Is no surplus lor disposal. R¢s¢ricted funds The Society raised £31.556 In 2001102 frotn rpernber donatK)ns lo an emergency appeal for sufficient workin9 capital lo continue operatitvJ. This fund ha5 grown to 2025 £45.50112024 £45.501 2023- £43.0221 and is held as a reslriclÉ reserve identified as Ihe'Chairm8n's Appeal 21)01 Accounr. Dsignated ltrndowment lund51 Addilionalty. in 2016 and confirmed again in January 2017. Ihe T<uslee5 appn)ved an amount of £125.000 lo be Included within these designalpd reserves for Ihe next four years. described as 'TriaLg Support, to support the National Trials Cornrnittees under 'Fulure Funding. In Novetnber 2022 il was decided to ave th15 fu in whilsl looking al Inve5ttnenl opportunities for the remaining lunds. The Beque8ts Reserve Fund now stands al £105.326 12024 £105.3261. The Trustees have idenlified InvÈslmenl Reserves which currently sland al £170,94412024 £151,841). Th15 gives 3 Designated FvnLIs lolal of £401.27012024 £382.1671 Inclwling the £125.ODO ntYJ-lenced as trials support. Thi5 Designaled Fund Is necessary to ensure the continuity of the Society in Ihe event of the suspension of the trials for 40 successNÈ yÈars for whatever reason. for èxample a national Inleclious disease In sheÈp_ Going concern Tho Trustees assess whether the use ol going COnM is appropriate. i.e. whelf*r there a any malenal unTrrtainlies related lo events or conditions that Tnay cast Slgnificant ¢Jciubl on the ability of the Charity lo continue as a going conTrrn. The Trustees make this assessment In respect of a penod of al least one year from the dale ol aulhorisation for Issue of the financial slalemenls and have concluded that the Charity has adequale resources lo continue In operational exislenco lor the loresÈeable ILJlurÈ and IhÈre are no material uitrrtainlies atK)ul the Chanties ability lo continue as a going concern. thus they Continue lo adopl going COnM ba515 of accounb.ng in ppang the financial slatefflents. The oftice-based team have all continued to work in Ihe Off IhrouglM)ul Ihis year uninlerrupled. How&ver. Ihere are processes for adopting hybrid or work from homÈ prac1e$ if required. for example whÈn mèmbers of Ihe team have infeclioLJS bugs bul are capablè ol workin9 from home. The are iwo members ol staff who pnmarity work from home, these are the CEO. and the As515lanl lo the CEO. Communicatn betweèn staff continues lo lake pl&e face lo f3¢e in the offi¢È. via tÈlÈphone. email. and Microsoft Teams. via Instant tnes5age desktop faulilie5 and video cOnfererlg wrth those who work frorn hotne. Comfflunir.Hlion with Trustees continue5 via etnail an(J Zoom video conferencing. and communiralion with Directors conlinues vla efflail and post. The Society has al) excollenl VOIP lepnY systÈm in placÈ whith facilitates conference calls, transferring ol calL8 elc. from an app-based system_ The period ended 31 May 2025 audit conduded wilh a 1151 of 11 possible irnprovernent5 within the accounting system5 and prOdureS operated by the S(Kiety, th15 Is an ¢mprovemÈnl on Ihe pnor year and mosl of them are very easily remedied. The one that Is a challenge Is late invoices from Trials. wilhoul a budget we cannot accrue lor the cosls and il is thorelore dilfitull for us lo manage. CarDerons assist wilh the quarlerly accounts management. providin9 SVPPOrt lo tho freelance bookkeeper and CEO, assisting with ouèrterfy pO[lIng aTKI checkirHJ VAT turnS and Pfoduce a year end audit file lor the auditor5. Principal spon50r5hip of the Society 15 prOved by Gilbertson & Page. A 5-year spOnsohlp deal was agreed In 2025, for 2025-2029 Inclusive. This ileS sponsorship of the 2026 World Trial. 2029 Worfd Trial If arranged will be by separate nogolialion. There havitYJ been a re¥W of Ihe knety operat)nal cosls. these are being c2relully rnanaged an(J are Subject lo ongoing re¥W Page 9 of 32
INTERNATIONAL SHEEP DOG SOCIETY Report of the Tru$teè5 for the year ended 31 May 2025 The forecast yearrbd p05ilions remain SItiVe throthjh lo 2027. wth annual investment figures allowed for lo keep the So¢iety up lo dale and progressiThJ. A review of office requirements part ol Ihis presS as well lo see If cheaper allernalives could be arranged. There will be parti¢uL8r focu5 on this over the next 18 months. An Analysis of Membership and Regislratsons revenue against associated costs and overheads. show5 that the Society can be profil8ble without Tnals income. bul Il is Inals fundraising which can allY make Ihe 15ifference an(J boost the Society reserves desired by th& finarval policies and to ultimalely able lo crealÈ development programrnes for the community For this reason. the Truslees continue lo aclopl Ihe going concern basis in preparing the financial slalemenls. Further delails regarding the adoption of Ihe goin9 concern basis Can be found in the Actwnlirig Polioes. FUTURE DEVELOPMENTS Moving forwarcj Ihe Society will continue lo produr£ Pedi9rees and Slud Books. which is a crucial part of thè So¢iells objectives irn tnainlainiw the Integrity of the breÈd. The Swety will conlinue to review health devdopmenls that effecl Border Collie5 and share infomialion with membets. The s¢Iety lpe$ lo increase exposu ol Sheep Dog Tnaling ar¥J Ihe associaied Iraining benefits lo the work of the Sheep Dog arKJ Shepherd. through increased Social Media presence and live st31ng of trial5. There will be increased en9agernenl with foreign nation5 and Asso¢tales. STRUCTURE, GOVERNANCE AND MANAGEMENT Charity constittstion The Society Is a metnber organisalion. first est3blished in 1906. managed by ils mèmbership through a Conslilulion. The Conslilulion was published in a forrn similar to that ¢urreTII. arouThY 1955. On 22 Seplernber 1962 the Society was registered as a Charity. with the Charity C(Knm15sion for Engtand and Wales. by Ils Goveming Document. being the Conslilulion dated 1960. The conslilulion has had 5ubsequÈnt ametKlrnenls, Ihe most renI being following the meelin9 of DirÈclorale In January 2025. Governance Is by Trustees. actitYJ as a body. lted by Ihe Conslitulion. 2025 vs the current constitution on recorrj wth the Chanty C(XnTnissK)n. Trustees. Indemnitie5 Truslees benefit from indemnity insurance to eovef Ihe liabilily of Ihe Trustees which by viriue of any rule of13w would olhepise allach to Ihem in respect of any negligence. default or brea¢h of IfL151 or breach of duly of which they tnay be guilty in relation to the charity. The ¢osl of thi5 insurance in the period was £2.574 1612024 - £2.604.651. Organi$ational structure and decision makiny CouTTcII appoints a Chief Executive Officer who will recruit necessary efflployed staff lo undèrtake the duties of the Society offu. ThÈ structure of Ihe SorAety Ihus consists 01. The Membership - who elecl Directors to serve the Direclorale lor Ihree year5 and can propose motions lo be debated al the National AGM,. The Direclorale - who elect a chairr[n. Vice Ch8imian and Members of Coul1. and vole on changes to ltte Conslilulion and operating rules lor Tnal and Slud Botsk Rules". The Society cne11 - whi¢h provides stralogic direction and wlmjse membÈr5 are Ihe Trustees to the So¢iety". and The Executwe Officew- who direcls Ihe day-lTrday activities of the Society In accordan¢È with the direction of Ihe abowe. Page 10 of32
INTERNATIONAL SHEEP DOG SOCIETY RÈport of thè frustees for the y)t ended 31 May 2025 Policies adopted for the induction and training of new trustees New Tru51ees are requirod lo have served lor a pÈn(Kl ol a minimum ol Ihree year5 as Oireclors. before appoinlmenl and thus becotne acouainled wilh Ihe obiecls and busines5 of the Siety. New Trustees will recerie inforrnalive papers on the aclivilies of the Sttiety and be briefed on their resw)nsibililies by Ihe Chairrnan and Prèsident. New Trustees are directed lo the Charty commiss)n Guides lor Tnjstees. They are Invited ID atterKI the offices of Ihe Swety lo rer£Ne IraiThng on their role and the financial activities of the Society if they are not fulty lamiliar Trmlh these. Exact Con5ullants who We appoinled to complete 3 wvernance review for the Society. have provided a Trustee role description and person soecificalion that was Inilialty reVIed by Council dufing February 2021 and on through 2022. The document Includes a TruslÈe's main pnnciples. re5wnsibililies. Ihe role of the Chairrnan and a desired per50TI specification for the role as Trustee. The Trustees of the Society participated In TrainityJ workshops over Zooffl wilh Diane Thomas of Exact Consullanls. in OeloberlNovÈmber 2023, with the airn of makiw sure that there was 8 gcmxl understandi[ of Ihe Rts and Responsibility of Trustees. A#5 CoVed In this lTriniry were Laws and Regulations. Role of Ihe Truslee, Ski115 and Capabilities, Good &)vefnan¢e - Planning. Managing R an(J Managing Finbnce." working through Governance review Iindings, Action anning. code of conduci. ¢typInIs. conflict of inte15. Ex8¢1 consultants can Contin to consult on an ongoing basis lo pnwide guidance lo the Trustee5. ARRANGEMENTS FOR SETTING PAY AND REMUNERATION TO KEY MANAGEMENT PERSONNEL The Chairtnan. Vice Chaimian and NalM>nal Pfe51denls revtew on a yearfy ba515 or as deeme(I nece55ary, the reffluneraln amounts of office staff. This act%)ll lakes place al Emph)yment Comrnillee on Ihe first day of the Annual General Moeling or at a Meeting called lo discuss the employmenl comtnillee matiers. Once decided 1115 passed wilh1n Committeè. who In turn report thè ihoughls to the ISOS Counol bLwty lo vole on. as a matter of agenda al the next Council fneeling. TRUSTEES EXPENSES Trustees may re1ve re1mbursenI only for costs incurred in carrying out Iheir duts. This would normally be for accommodation and travel to meeting5. trials and viewing of p(kS51ble trial venuÈs. A¢¢otnrtiodalion and moals vlhile allonding a meeting tnay be settled directty by the Sooety Claims lor expenses may be paid through Ihe SDciely ofti only #nd Trustees have no mechankstn for making paytnenls wilh SOClY fund5 diieclly. For perio(1 lo May 2025 Trustees recoived paytnenls lotalling £2574.1612024 £3)41_031 lor expenses incurred. RISK MANAGEMENT The Truslees havo Identified that 3 niajor risk lo the &Kiely woul(5 bÈ the loss of incon from lrialg, dog regislralion an(J membership if the wa5 to be a sonifieanl threat 10 Sheep slo¢kholding arKVor movemènl within the UK for more than one year. For exarnple. a l0ot-and-nUth or blue-longue disease crisis lasting MO than 12 months. Th8 eharity's reserves rM)licy Is drafted in response lo this risk. As this Sel of accounts Show in rela"on lo tria15. they have the ability to be Significant fundrai5er5 for the running of Ihe Society as a whole. Closer Wofking relationships with the or9anising commillÈes are aifning lo reduco r15k ol poor performing trrals. an(J lo be bÈll?r ppared for a finarTr¢ial bss if a commitleÈ Is stru9gling lo raise the funds reqtyired lo stage a National Trial. ManagÈmenl of Risk as a whole. is iEing grealty tightened up by third parfy providers such as banks and insurari companies. Therefore. the ISDS has been Iighleniro up too. In order to meet reqUI[nentS sel by these providers. Fraud Is an obvious risk wth ISDS funds beirMJ use(J and raisÈd by corntnittees. the banks a now being connected lo the main accounting system so Ihal the Iru5tees cAn see movement of lunds in real tjme. PIB Insurance Broker5 provide Risk ManagerrEnt Servi(s In addilion to Insurance. providing specific advice In relalior) to safety challenges by the SletY particulady around the tnanagemenl ol salèly al the annual major Inals. The Executive Officer will review th15 addiliorkal sorvice adopt appropriate ÈlÈments lo be used In tho daily function of the SociÈty and for Trials Commillee5. The H&S chÈ¢ks of the oflicts are ¢onducled on a reguLar ba515 aThl the Is supporfed by Peninsular Group wlio PfovKle HR suptK)rt and adviTr. Page 11 0132
INTERNATIONAL SHEEP DOC SOCIETY Report of the Truslees for the year ended 31 May 202S REFERENCE ANOADMINISTRATIVE DETAILS Registered Charity number 209009 Principal addres5 Clifton House Goldinglon Road Bedford 8u¢kinghamshire MK40 3NF Page 12 of 32
INTERNATIONAL SHEEP DOG SOCIETY Report of the Tru$tet5 lor the year ended 31 May 202S Trustees Chalrvnan Mr l L FletniThJ Mr D J Mcculbugh Terni 202312026 (Resig1 bwlh 1 yrfs prior ftolice '251 202512028 (Term corvwnenced 21st February'251 Vice Chairrna Mr T Longlon Mr J 095ton 2022r2025 (Temi ended 21st Fetsruary'251 202512028 (Tertn comrnenced 21st February'251 National Presiden15 fvlr J Relph English National Presidenl Mr P Murphy- Irish National PfesKJenl Mr J Ogslon Scollish National PresKlent Ms. F Mcmillan Scoltish National PresKJenl Mr G Jones- Welsh National President 202212026 202312027 202012024 (Terrn cotnpleted 1st Nov.'241 202412028 (Tem) wmmen¢ed 1st Nov'241 202112025 There are 3 Trustees per nation al one lime. however 4 a listed due lo Ihv ovedap of the financial year. Changeover occurs al the ttlo* of the Annual Directors rneeling sChedUd lor Ihe last Salurday In January each year England Mr M Longlon Mr D Kennard Mr R Dean Mr A Wilkin50n 2022r2025 202312026 2024r2021 202512028 Irfrland Mr E McAuley Mr F Cashen Mr J Mccullough Mr P klorgan Mr B Kelly 202212025 202312026 202412027 (Eleclod Chairman 20251 202512027 (Co-opted io ree DJ Mccullough) 202512028 S¢otland Mr D Robert50n Mr l Brownlie Mr N M¢Vi¢ar Mr D N Gilbn 202212025 2023r2026 2024r2027 20251Z028 Wales Mr M DavKJ$on Mr D Davies Mr R Ellis Mr A Staples 202212025 202312026 202412027 202512028 ExÈcutive Officer Miss Isabel Branch Appointed l December 2021 Auditt>rs Salisbury & Company business Soluth)ns Lim41ed Irish Square Upper DÈnbigh Road Sl Aseph Denbighshi LL17 ORN Bankers Santander Boolle Merseyside L30 4GB STATEMENT OF TRUSTEES. RESPONSIBILITIES The Iru8leps are responsible for preparing tho Rewrl ol Ihe TrLJslÈes and Ihe financial stalemÈnls In atcordance with applicable law and Unitèd Kingdom A¢¢ouiibng Slandai¢J5 (Uniied Kingdotn Generally Accepted Accounling Pratlicel. Page 13 of 32
INTERNATIONAL SHEEP DOG SOCETY Reporl ol th• Trust fcrlhfj year endod 31 May 2025 STATEMENT OF TRUSTEES. RESPONSIBILmES-conttnu•d Charity law raquirés the Iruslees b) Prepa financi slaternwls for finBnoal year. Ufvjar Ihat 18w, Ihe Iru8tees have etected lo prepare the financydl ¥latemenls in acCdanCe ilh United KrrfJdom GerrallY kcopled AcctyJnt5ng Praclir Iunlled Kingdom A(xXn1Ing Slandard5 and ap[Ae WI. Under tharity law the tW51ee¥ rnu5t rK•t aprrn the fina181 statemenLs uths3 Ihey are satisfied Ihpl they a tru8 and falr wew of th8 8iai8 of affaifs of thaiity arNJ ol Ihtr resource5 and applicatn of restyjrces. IncludirvJ the irthme and expendilure. ol Ihe charity for tr1 pernd_ ITr weparin9 those finarKal 5taletnenty. the truste88 are lo $618¢1 Suitable polK5 anLI then zppty them consklelii. observe the melhcrtjs and princip$ h) the Chaths SORP: fflake jiJdgernÈnts and estrn8tes IKyl are rea$(ab a1 pent.. stsle whether applicat48 afxtyJniJrwJ staThlatds have telltyed. SbItC1 lo wry materlal departures d15closed and expP8inÈd in the finaal slalempnls- prepare the finanual slalements on ihe CtsKm bas unbèss li ThPk¥opriate to presume Ihal the charity wll (f*nbnue in txj5lnss. The Iruslees are responsbi le l(x keepiry prwr accounliNa rec¥)rds vthich Otsdose wlh reastyiable acoJracy at 8ny lime the finartial position of the charity and &) enoblE them to en5Ufe that finanual 3talements compty the Charitie$ Aci 201 l and The Charity (Accounts and Retky¢51 RegulabS 2W8. They are akn responsib for safeguarding tho assets of the tharity and Iwce for takiry re&sable steps lor the wevenlh)n aThJ delecliryi of fraud and other irreguLqriUes. The Trustees are fesponsible for paring the TnxtÉes' Rwrt and Ihe Finantial StsiÈments in aCtsance with applicab law and United Kingdom AcownliThJ Standafds IUnitÈd lo[n Genernlly Acteplèd Atcounting Pfadcel. Approved by order ol the boans oflw51ees /1 J2a2L ....... •xl $vJwJ (xi its behalf by". J. Mccullough- Tru51ee and Chaimwn pa 14 0132
Report of the Independent Auditors to thÈ Truste$ ol International Sheep Dog So¢i¢ty Qualified opinion We have aLKliled the fiTranCl slaterfnls of Inlemalional Sheep D(xJ Society Ithe 'cha¥ty'l for the y8ar ended 31 May 2025 whh comprise the Slalernenl of Financial Aclwities, the Balance Sheet and notes lo the financial slaletnen15. including a 5urntnary of signiflcanl account1r rm)lic$. The finanual reKK)rting framework Ihal has been applied in their preparation Is applicablè law and Unrted Kingd(Kn Accounting Standards (United Kingdom Generally Accopled Accounting Practi1. We have audited the financial slalernents of Inlemalional sep Dog Swety Ilhe 'charity'l for the year ended 3151 May 2025 which CDfflprise the slalemenl of financial $11)n. the Balance Sheet, the Cashflow Slalernenl and noles lo the financial slalefflent5. including a Summary of $1gnificant accounting policie5. The financial reporting framework that has be8n applied In their prepafalion Is applicablp law and Uniled KitHJdom Accounting Standards (Uniled KinGthm Generally A¢¢eptod Accountin9 Praclicel. In our opinion. excepl for the possible effects of the matter describe¢J in the Ba5 for QUalried Opinion seelion of our report. the financial slalemenls. give a true and fair v¥ of the stale of Ihe cliarity's affairs as at 31 May 2025 atMI of rt$ 1ncorning resource and application ol resources. Including Ils incotne and expendilvre. fof Ihe year then ended". have been propedy prepared in accordance wilh Uniled Kin9dorn Generally Accepted Accounting Practice. and have been prepared In accordance wilh the requirements of the Chanlies A¢1 2011. Basis for opinion W& conducted our audit In a¢¢ord3nce WI InletnalK)nal Slandards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under Ihose standards are lurther descnbed In the Audilors. responsibilitiès lor Ihe audit ol Ihe finan¢1al 51alernents Section of our report. We are IndepÈndÈnt of the ¢harity In accordance wilh Ihe ethical requirements that are relevant lo our audit ol the financial $131e¥rtnls In the UK, Including the FRC'S Elhical SlaTKJard, and we hav8 fulfilled our other ethical responsibilitie5 in accordance with these requirements. We bèlieve Ihat the audit evidence we have obtained 15 sufficient and èppropriate to Provide a basis for our opinion. The Company ¢otKlucled its physical stock count on 31 May 2023. whh we was not vÈrified by au¢Jilor5 due lo circutnslances oulsKle our control. We were also unable to perform altemalivo audit pro¢Èdures lo oblain 5ufficienl appropnale audil evjen regarding the quanlilies and condilion of invÈnlory as al Ihal dale. Con5equenlty. we were unable lo determine whother any adiuslmÈnts might be necessary to Inventory. Cost of saks. and rdaled finanoal slalerrnt disck)sures. We allended and audited thÈ Company'5 phy51cal slock count al 31 May 2025 and oblained sufficienl appropriate audit eviden in respect of cS[ng Inventory at year-enij However. the procedurÈs performed In relation lo thÈ 31 May 2025 slocklake do not provKJe sufficienl audit evidence regarding the opening inventory position al 31 May 2024, which r8mains unaudited We conducted our audit In accordance with Intemalional Slandards on Auditw IUKI IISAS IUKII arnd applicable law. Our re5porisibililies under Ih05e standards arÈ lurlher des¢ribed in Ihe Auditor'5 responsibililie5 lor the audil of the financial slalemenls sectson ol our report. We are independenl ol the charity In aCcOr(Jan with Ihe elhical requirements that are lÈvÈnl lo tsur auElIt ol the financial 51alernen15 In Ihe UK. including tho FRC'S Elhical SlaThYard, and wè havè luifilltrd our other olhi¢al rE5ponsibililies In accor(Jance wilh these requifoments. We believe Ihal Ihe audit evidon¢e we hav obtained 15 sufficient and appropriate lo providÈ a basis for our qualified opinion. Conclusions relating to going ¢onGern In auditing the finan¢ial slaletnenls, we have concluded that Ihe Iruslees. use of the g(xng concern basis of accounting in the preparation of the financial slalemenls is approprialÈ. Based on the work wp have performed. we have nol Klenlild any material uncertainlie5 relating to evenls or con(Jilions Ihal. Individually or ¢olleclively. may cast significant dout)l on the charity's ability lo continue as a going concern lor a period of al a51 twefve rnonlh5 frorn when tho financial Stalen[S are authorised lor issue. Our responsibilitsos and responsibilits"e5 ttrf Ihe Iruslees with respeci lo wirYJ con¢xm are described In the relevant sectiorbs of this report Key audit matters Except for the matter desent)ed In the basis for qualified opin¢on section, we have ijetemiined that Ihere are no key audil mallors ID be comtnunicaled our report. other information The Iruslees arÈ responsible lor the other InforTnalx)n. The other Information comprises the Information Include(J in the Annual Report, other than the finaT)cial slalements and our Report ol the Independent Auditors Ihereon. Our opinion on tho financial slatÈm*nls doe5 not cover the olher infortnalK)n and. except lo the exlenl olhewse explicilly staled in our report. WÈ do not expr&s5 any form of assurance conclusK)n thereon. Page 15of32
Report of the lftdependent Auditors to the Trustees of International Sheep Dog Society In connection th our audit of the financral 5taletnents. our resrKJnsibilily 15 to read the other infomalion and. In doing so, Consider whether the other Inlomatson Is materially inconsislent vnlh the finar91 slalemenls or our knowledge obtained in the audit or otherwise appears lo be malerialty tn¢sslaled. If we idenlify such tnaleria1 Inconsislencie5 or apparent malÈrial misslalemenls. we are qUired lo delermino whether Ih15 gwes nse lo a malorial mtsslalÈmenl in the financial slalemen15 Ihernselvos. 11. based on the work WÈ have performed. we conclude thal Ihere is a tnalerial misslatemenl of this other Inlormalion. we are reouired io report Ihat facl. We have ntslhiry ID report In this regard. Matters on which we are required to by exception We have nothing to port in respe¢l of the followi matters Whe The Chanties (Accounts and Reptsrt51 Regulalions 2008 qui$ us to retK)rt lo you If. In our opinion the information 9iven in the Report of the Trustee5 15 Inconsislenl in any malenal respect with the financial slalemenls". or sufficienl accounting records have no¢ been kepl. or the financial statements are not ID agreement with Ihe accounliThJ Feco¥ds and returns. Of we have not wetved all the informaboft and explanabons we require for our audil. Responsibilities of trustees As explained more fully In the Slalernent of Trustees, Responsibilities. the Iruslees are $[K)nsible fDr the preparation of the financial slalomenls which give a true and lair view, and for such Inlemèl control as the Iruslees determine is necessary lo enable the preparation ol finèncral slalernents Ihal are Ie frotn tnalerial rnisslalemenl. whether due to fraud or error. In preparing the financial staletnenls, the Iruslees are responsib lor assessiThJ the charitys ability lo conlinue 8s a going concern. disclosing, a5 applicablÈ. matters related lo going COnM and u51ng the going concem basis of accounting unless the Iruslees either iftletKJ lo liquidate the charity or lo ase operations. or have no realislic allernalive but lo do so. Our responsibilities for the audit of the financial statements We have been appoinlecj as auditors under Section 144 of Ihe Chanlies Act 2011 and rew)rt In a¢¢ordance wlh the Act and relevant regulations maile or having eHect thereu1. Our obie¢lives are lo obtain reasonab assuran about whether finanoal statements as a whole are free frotn malerial misslat8menl, whethèr due to f¥aud or error. and lo tssue a Report of Ihe Independent Audilofs that Includes our Dpinion. Reasonable assurance is a high levol ol assuran. but is not a guarantee that an audit c(XKJucled in accordanee with ISAS IUKI will always dele¢l a tnalenal misstalemÈnl wfn il exis15. M15slateTnenls can arise from fraud or error and are considered material if, lWidual oi In Ihe aggregate. they could reasonably be expecletj lo Influence the economic de¢Bh)ns of u5efs 13ken on Ihe basis ol these financial stalÈrrnts. Th8 exlenl lo which our procedures a Capable of delecting irregularilies. including fraud k8 detailed below". Irregularilies. including Irau(J, are 1n5tances ol non-¢offlpliance wilh laws UlatIonS We de51gn procedures in line with our resptsnsibililies. outlined above. lo dele¢l malenal tnisslalernents In respect of Irregularities, including fraud. (>wing lo the Inhe1 limitations ol an èu<Jil. there an unavoidable risk Ihal tnalenal mis51alemonl In the financial slalÈmen15 may nol be dolecled. even Ihough the audit is property pned ITh accordance with ISA IUKI. We obtained an understanding of the legal and re9ulalory frarneworks applicable lo Ihe charity and Ihe industry In which It operates through our general commercial and sector expenence and dLg¢U5sion5 wilh managemenl. We clelermined IhÈl Ihe following laws and regulatK)ns were most significant The Cotnpanies Acl 2006. FR$ 102 Ihe'Financial Reporting Slandards applicable in the UK and Rèpublir of Irela[1, and relevant UK tax le9islalion. In addition, we concluded Ihal there are certain laws and regulalions Ihal may have an effect on the delerminalion of the amounts and disclosures within the financial slalemenis suth a5 Health an(J SafÈty laws an¢J wuL4lions. We as5es5ed the suscÈplibility of the charity's financial slatetnents to material misslaiemenl. includiTig how fraud Tnighl occur. Audit procedure5 perforrned by the enga9emenl learn Included Discussions with managerner)l. Includiro tonsideralion ol known of suspecled In5tsnces of nonoompliance with laws arid regulations or Iraud. 0013inirTg an underslandiny of the inlemal controls that rnanH9emenl have In place lo pveI and detect fraud", Challenging assumptions and Judgements made by rnanagemenl In its signilicanl accounting eslirnales.. Reviewing the financial slalemÈnl dis¢knsures and assessing the appropriateness of the accounlin9 poli¢ies used. Identifying and lesling Journal entrie5. In particuLgr manual or unusual enines". obtainir)g third party confirtnalions of all the companies banking arrangemenls". Performing analytical procedures lo identify any unu5L+al or unexpecled relalion5hips". ConcludÈ on the apprciprialeness of the directors. use of going ncern basis of accounliry. The assessrnenl of Ihe approprialenes5 of the eolle¢knve Ix)mpelence and capabilities of the engagement leam included consideration of Ihe engagernenl leam's knOedge of the Industry In whith Ihe client operales In anc5 understanding of. an(J practical Èxpenence with. audit engagements of a similar nalure and complexity through appropnali Iraining and partieipatioll. Page 16 of 32
Reptsrt of the IndÈpendnt Au¢Jitors lo th Tru$lees tsf International sIp Do9 Society There are 1fthenI limitations in the audil Pr[u5 described above. We ate less likely lo bewme aware of Irislan¢es of non<ompliance with law5 and regulations Ihal are not ck)sety related lo events and Irans3clion5 refle¢led In the financial statements. Aso. the risk of not delecting a malenal m4$51alemenl due lo Iraud Is higher than the risk ol not electing one resulling from error. as foud may invOe deliberate concealment. Our audit procedures are desKJned lo delecl tpalen31 misslaternenl. We are not responsible lor preventing non- compliance or fraud and cannol be expected lo delÈcl non-¢omplian¢e with all laws and regulalions. A furthpr descrpIlOn ol our SPor}S1bI1ltleS for the 3udil ol the Financial slaletnents is l(Kaled on the Financial Reporting Council's website al www.frc.org.uklaudilorsresponsibilities. This description fofm5 parf of our Report of the Indepèndenl Auditors. Use of our report This pOrt Is rrade SOlY lo the charity's Iruslees. as a txmly, In accordance wilh Part 4 of the Charities (Accounts and Rèportsl Regulations 2008. Our audil work has beÈn undertaken so Ihal we might slate to tho charity's Iruslees those mallers we are required lo slalÈ lo thèm In an audilots. rerKJrt and lor no olhÈr purpose. To Ihe lullcsl exlenl permitted by aw. we do not ac¢ept or assurne SponsIbIlI1Y lo anyone other than Ihe charity and the charity's Iruslees as a body. lor our audil work. for this report. or for the opinn5 we have forrned. Salisbury & Company Bus1ness Solutions Limile(J Stalulory Auditors Chartered Accouftlanls Irish Square Upper Denbigh Road Sl Assph Denbighshi LL170RN Date Page 17of32
INTERNATIONAL SHEEP DOG SOCIETY statoment of Financial Activities lor the year ended 31 May 202S 2025 Tolal funds 2024 To131 funds Vnreslricted fund Reslrtled lund Endowment funds Note5 INCOME AND ENDOWMENTS FROM Donations and legaci8S 38.892 38,892 16,702 Charitable activltiÈs Charitable aCtville5 659.861 659,861 1,066.680 Olher Ir8ding activities Investment In¢ome 63.798 63,798 19.103 83.645 18.141 19.103 Total 762.551 19.103 781.654 1,185,168 EXPENDITURE ON Raising funds 15,828 15.828 4.701 Charitabl8 activities 548.155 6,432 548,1 $5 6,432 966.449 12,6051 Other tradin9 a¢lMlies Oth8r 134.869 134,869 167.680 Total 705.82dl 705.824 1,136,225 NET INCOME 57.267 19,103 76.370 48,943 RECONCILIATION OF FUNDS Total funds brought loard 205.212 45.501 382.167 632,880 583.937 TOTAL FUNDS CARRIED FORWARD 262.479 45.501 401.270 709.250 632.880 Page 18of32
INTERNATIONAL SHEEP DOG SOCIET Balan¢• Sh•6t 31 May 2025 2025 Tolal 2024 Total funds fijr Notes FIXED ASSETS T8wible assets 12 2,411 2.411 4,199 CURRENT ASSETS Slocks Deblo Cash bt bank 13 14 35.609 35.609 30,685 097,8 38,440 148,39d 491,461 351,125 45.501 401270 317.419 45,1 401,270 764.190 678,295 CREDITORS Arrwnts fallirva due Mihui one yeaf 15 157.3511 157.3511 149,6141 NEf CURRENT ASSErs 45.501 401,270 7rK.839 628.681 TOTAL ASSETS LESS CURRENT LLABILMÉS 262.479 45.501 401,270 709.250 632,880 NEf ASSETS 45.&11 401,270 709.250 632.080 FUNDS Un$1cted funds Re51rKled funds EThdOWmt knds 17 262,479 4S,501 401.270 205.212 45.501 382.167 TOTAL FUNOS 709,250 632.880 The fin8ndal Ststsmenls we16 apwoved by th8 ol Tru$lee5 and aulhorised for 1$5ue on .. and were si9ned C its behf by. . M¢Cu)h. Truste Chairman Page 19 0132
INTERNATIONAL SHEEP DOG SOCIETY Cash Flow Statement for the year ended 31 May 2025 2025 2024 Note5 cash flows Irom operating activities Cash generated from operations 168.947 140.7511 Net cash provided byllused In) operaling ac11vieS 168.947 140.7511 Cash flow5 from investing activities Purchase ol langiblo lixe(J assets Intewl reiVed 17181 19.103 13.1831 18.141 Nel cash Provided by Investing aclNibes 18.385 14.958 Cash flows from financing activitie$ Income allnbulable lo Endowtnenl 19,103 15.662 Nel cash provida(J by finantir aclmlies 19.103 15.662 Change in cash and cash equivalents in the rÈporting pèriod Cash and Ga$h equivalen15 at Ihe beginning of the reporting period 206.435 491.461 601,592 Cash and ¢a$h equivalen15 al the end of tho reporting period 697,896 491.451 Page 20 of 32
INTERNATIONAL SHEEP DOG SOCIETY Ntste$ to the Cash Flow Slatement lor the year ended 31 May 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net income for the reportin9 period la5 per the Staternent of Financial Activities) Adjustments for.. Depreciation charges Los5 on disposal of fixed assets Interest received Inrne attributable lo erMIowTnenl De¢rease In stocks Decreasellincreasel in debtors Increaselldecreasel In Creditors 76.370 48.943 749 1.757 119,1031 119,1031 2,831 117.709 7.737 911 118.1411 115.6621 6,518 1120,3931 42.9271 Net cash provided byllus¢d Inl operations 168,947 140.7511 ANALYSIS OF CHANGES IN NET FUNDS At 116124 Cash flow Al 3115125 Net cash Cash al bank 491.461 206,435 697.898 491.461 206.435 697,896 Total 491.461 206.435 697,896 Page 21 0132
INTERNATIONAL SHEEP DOG SOCIETY
Notes to the Financial Statements
for the year ended 31 May 202S
A¢¢OUNTING POLICIES
Basis of preparing thÈ financial st#tÈrnÈnt5
The finan¢ial slalefflen15 of Ihe charily. whKh 15 a Publ ine[lI entity under FRS 102, have been pr?parpd in
accordance wilh the CharilEs SORP IFRS 1021 AccountiryJ and Reportin9 by Charities. Slalemenl of
Recomrnended PraC1e applicable lo charilies ppann9 their accnunls In actor(SancÈ wilh the Financial
Reporting SlarKJard applicab In the UK and Republic of IreLqnd IFRS 1021 lÈf(eclive l January 20191.. Finantial
Reporting $18ndard 102 'The Financral Reportityj Standard applicable in the UK and Republr ol Ireland. and the
Chariles Act 2011. The linanoal 5talemenls have been prePad under the h151orical cost convention.
International Sheep Dog SCletY Is an tsnirtofpooted Chanty re9L81ered 1h ihe Chanly Commission regislralion
number 209009. in England and Wales.
International Sheep Dog Society meets Ihe definibon of a publ benefil enlily under FRS 102. Assets and
Iiabililies 8re initially e0gnised al hislontal ¢tssl or Irawlion value unless olherNisè Slated in the relevant
a¢¢ounling policy.
The Charity's functial and presentatM)nal cUrreV is Bnlish Pounds Sterfiro (£1 and figures are rounded lo the
nearest £.
The gIstered otrice is Clifton House. 4a &)IdiThJton Road , 8e(Ilord. UK40 3NF.
Going concem
The Trustees assess whell*r the Le of going concern i% appropriate, I.E. whether there are any material
uncertainties laled lo event5 or conditsons that may cast Signifan1 doubt on the ability of the Charity lo
conlinLJe as a going concern. The Trustees make this assessment In rpect of a ricKs of al least one ye8r from
the date of aulhonsalion for Issue of the financial staletnewbts and have concluded th31 the Charity had adequate
resour¢es lo continue In operational existence for the foreseeab future and Ihere are no material uncertainlies
about the Chanlies ability lo continue as a going concem. thus Ihey continue to adopt CoeM bas15 of
accounting in preparing the finane1al slalements.
In¢omÈ
All Incotne is recognised In the Slaiemenl ol Finawal Aclivibes once the chanly has enlillement to the fund5. It is
probablo that the income will be rwived and the amounl Can be Measu reliably
Donations, mernbership aft(J magazine subscripknon inCMe are re(x)gnL8ed on receipt.
Olher income is wognised in Ihe pen
INTERNATIONAL SHEEP DOG SOCIETY Notes to thÈ Financial Statements - continuÈd for thè year ended 31 May 2025 ACCOUNTING POLICIES- ¢tsntinu8d Tangibk fixed assets Depreciation Is providÈd al Ihe followng annual r2tes in order lo wnle ofi each asset over its eslimaled useful life. Planl and machinery Fixture5 and fittings Gomputer equipment 20% on re(Jucing balance 33% on cost and 15% on reduung balance 33% on cost Stocks Stock is valued al the k)wer of c051 and net aliSable valuÈ after makin9 due allowance for Obsote and slow- moving 51ock5. Cost Includes all direct cost and appropriale proportion of fixed and variable overheads. Ta¥atlon The chanty exempl from lax on 115 chantable aclNibes. Fund accounting General fund5 can be used in accordan with the charitable obJe¢twe5 al the d15crelion of the truslees in furtherancE of the general objÈtlNes of the Chanty and which have not been desigDale(J for other purposes Designaled funds cornpnse unreslricled lu15 that have been set aside by the Trlee5 for particular purp088S. The aim and use of each designate(I fund Sel out in the nolÈs to the financtral statefflents. Restricted funds can only be used for partiCUr s1cled pJrposes within objects of tho charity. Re51riclion5 arise when sppofied by the donor or when funds are raised fof par15cular re51ricled purposes. The c051 of raising and adminislering Such fuThJs are charged again51 Ihe specif fu1. Investment Ino)rf, gain5 arwj losses arÈ alk)cated lo the appropriate fund. Further explanation of the nature and purw)se of each luryl ts induded In the te5 to Ihe financial Statements. Foreign currÈn¢ies Assets and liabilities in foreign currencie5 are translated into sIerfi al the rates OT exchange ruling al thè balance sheel dale. Transactions In lorei9n currenoes are translaled Into slortiw al the rale ol exchange ru11ng al th8 dale of Iran5aclion. Exchange diNeren¢es are taken into accounl in amving al Ihe operating re5uII arid are rocogni8ed In the Statement of Finaneial A¢lNitEs. Pension costs and other post-retirement benefits The charity operates a delned contribution pen510n scheme. Conlribulions payable lo the chariws pension scheme a charged lo the Stslemenl of Financial Activities in ihe per lo whi¢h Ihey relate. Liabilities and provisions Liabilities are COgniseI wlEn there is an oblalK)n al the bala[e sheet date as a result of a past evenl, il 15 probablè Ihal a Iransfer of ecO[K)m benÈlil will be required In selllemenl. and the amounl of the selllemenl can be estimaled llabty. Liabilities are ¢gniSed al the amounl Ihal the Charity anticipate5 il 11 pay to selue debt or the arnount it has received as advanced payments for It 9(J5 or services it musl provKIe. Provi510ns are measured al the best estimate of the tnIS iequired lo Sett Iho obligation. Where the effecl of the time value of money 15 rnalenal. Ihe provisK)n LS based on the psent valuo of those arnounls, discounted at the pre-iax (Jiscount rate that reflects the risks specific lo Ihe liab11ity. The unwnding of Ibe discounl is recognised In the Sl)lernenl of Financial AcliviliÈs as a fIna[e cosl. Interest recÈivable Inleresl on fund5 held on depos11 Is Induded when reCeivate and the amount Can be ffleasuied reliably by tho Charity." this Is normally upon rtolilicalion ol the Inleresl pa or payats by the In51ilulion with whom the funds ar deposited. Financial instruments The Charity only has linantial as5e15 and financ1al Iiabililies of 3 kind Ihal qualify as basic linancial In8lrurnenls. Basic finan¢ial InslruFnenls are inilialty retogni5ed al transaclion value and sub5equpnUy Tnea5ured al their selllemenl value with the exception ol bank 103ns which are subsequÈnlty measure(l al amortised cost using Ihe offe¢tive Inleresl method. Page 23 of 32
INTERNATIONAL SHEEP DOG SOCIETY Notes to the Financial Stat*ment5 - continued for the year endÈd 31 May 2025 DONATIONS AND LEGACIES 2025 2024 Donabws or Fundraisi for Trials Donaliws and Legacies 37.301 1,591 16,437 265 38.892 16.702 OTHER TRADING ACTIVITIES 2025 2024 Sponsorships Sale of gcKJds and slu¢J LKK)k5 15,297 48.501 16.897 66.748 63.798 83,645 INVESTMENT INCOME 2025 2024 Investment inrx)me 19.103 18.141 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 Activity Reg151ralion and stud book fee Membership subscripboris Trials income agaiine Income Miscellaneous Income CharilatAe activilies Charitable aclivilies ChariiaNe aclivilies Charitable aclivilies Charitable aclivilies 235.953 91,134 266,253 66,491 30 219,341 78,070 693.848 75.358 63 659.861 1.066.680 RAISING FUNDS Other trading a¢tivitie5 2025 2024 Trustees, expenses Bad dÈbls Suppori costs 2.574 2,605 2,096 13.254 15.828 4.701 Pa9e 24 of 32
IhtTERNATIONAL SHEEP DOG SOCIETY Notes to the Financial Statements conlinuÈrl for the year ended 31 May 202S CHARITABLE ACTIVITIES COSTS Support costs (see note 81 Direcl Costs To181s Charitable activities (Xher trading activities 2B5.419 262,736 6.432 548.155 6.432 285.419 269.168 554,587 SUPPORT COSTS Govemance cos15 managennI FIn#re Other Totals Other trading activities Charilable aclivilies Other trading acl'vilie5 13.254 2.578 13.254 262.736 6.432 257.652 2.506 6.432 257,652 15.832 2.506 6.432 282.422 TRUSTEES. REMUNERATION AND BENEFITS There were no Irust8es' remUnerat)n or other benefbls the year ended 31 May 2025 nor lor the year ended 31 May 2024. Trustees. expenses 2025 2024 Truslees, expenses 2.574 2.605 10. STAFF COSTS 2025 2024 Wages aThJ salaries Social security costs Olher pensK)n ¢osls 201.923 16.585 3.7fJ4 226,443 21.304 3.891 222.212 251.638 The ChariW5 Key Managernenl Pefsonnel are Ihe Trustees and ExeeutNe Officer. The lolal amounl of employ&r benefits (including employer pension conlnbulK)ns and employers national Insuran¢e ¢onlribuliongl paid lor seNices provided lo the Chanty by the Key Mana9emenl Peisonnel artiounled lo £60.850 12024 £63.1981 rhe average tnDnlhty nurnber of etnployees dunry Ihe year was as l(Alows'. 2025 2024 Office and administration The nUrnr ol employees whose empknyee benefits (excl11) emph)yer pensKJn ¢oslsl exceeded £60.000 was.. 2025 2024 £60.(NJ1 . £70,000 Page 25 of 32
INTERNATIONAL SHEEP DOG SOCIETY Notes to the Financial Statements - continued lor the year ended 31 May 2025 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unresln¢le¢ Reslri¢led run fund Endowment funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacie5 16.702 16.702 Charitable activities Charilable activities 1.066.680 1.066.680 Other trading aclivities Investment ItOrne 83.645 83,645 18,141 2,479 15.662 Total 1.167.027 2,479 15,662 1.185,168 EXPEhlDITURE ON Raising funds 4.701 4,701 Charilabl* activitie5 Charitable aclivilies Other trading activities 966.449 12.6051 966.499 12,6051 Other 167.680 167.680 Total 1.136.225 1.136,225 NET INCOME 30.802 2,479 15,662 48.943 RECONCILIATION OF FUNDS Total funds brought fotwar 174.410 43.022 366,&)5 583.937 TOTAL FUNDS CARRIED FORWARD 205.212 45.501 382.167 632,880 12. TANGIBLE FIXEO ASSETS FrAlures and fillin95 Planl and machinery Computer equipfflenl Tota15 COST Al 1 JunÈ 2024 Addition5 Oisposals 2,892 24.588 718 7.9911 34.300 61.780 718 42,2911 34,3001 Al 31 May 2025 2.892 17.315 20.207 DEPRECIATION Al 1 June 2024 Charge for year Eliminated on disposal 578 463 22,703 286 6.2341 34,300 57,581 749 40,5341 34.3001 Al 31 May 2025 1.041 16.755 17.796 hlET BOOK VALUE Al 31 May 2025 1,851 560 2.411 Al 31 May 2024 2.314 1.885 4,199 Page 26 of 32
INTERNATIONAL SHEEP DOG SOCIETY NotÈs tt> thÈ Flnon¢ial Statements continued lor the year ended 31 May 2025 13. STOCKS 2025 2024 Stocks 35.609 38,440 14. DEBTORS.. AMOUNTS FALLING DLIE WITHIN ONE YEAR 2025 2024 Trade debtors Olher debtors VAT Prepayrnenls and accrued incort 12.9731 12,6221 10.624 29.996 110.396 33.658 30.6B5 148.394 15. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2D25 2024 Trade CditOrS Taxation and sttial se¢unly Other ¢reditor5 25,809 14.223 17.319 24.789 3,162 21.863 57.351 49.614 16. LEASING AGREEMENTS Minimum ase paytnents under non-cancdlable operaling se5 fall due as folk)ws' 2025 2024 Within one year Between one and five years 21.250 19.479 18.622 40.729 1B,622 The Chanty entered inlo a new lease in December 2024. whi¢h requires rt lo re(lecorale the PTEmises before the lease Èxpiry dale. 17. MOVEMENT IN FUNDS Net rnovernenl In funds At 3115125 Al 116124 Unrestrictèd fund$ General fund 205.212 57.267 262.479 Restricted funds Chairman's Appeal 2001 Account 45.501 45,501 Entltswmtnt fund5 Beque515 re5erwe fund Investment SerVe fund 401,270 19.1031 401,270 19.103 3B2.167 19.103 401.270 TOTAL FUNDS 632.880 76.370 709.250 Page 27 of 32
INTERNATIONAL SHEEP DOG SOCIETY Notes to the Financial Statèments . continued for the year ended 31 May 2025 17. MOVEMENT IN FUNDS - continued Nel movement in funds. included In the above are as folk)ws". Incoming resources Resource5 expen(Jed Movement In funds Unr*$tri¢ted lunds Geneol fund 762.551 1705,2841 57,267 Endowment funds lrnve$lment resetve lund 19.103 19,103 TOTAL FUNDS 781,654 705.2841 76.370 ComparativÈ$ lor tnovernent in fund5 Nel rnovement In funds At 3115124 Al 116123 Unrestricted funds General fund 174.410 30.802 205.212 Restricted funds Chairman s Appeal 2001 Account 43.022 2.479 45.501 Endowrnent fund5 8eques15 reserve fund Investment reserwe fund Trials support fund 97.938 143.567 125.000 7,388 8,274 105.326 151.841 125.000 366.505 15,662 382.167 TOTAL FUNDS 583,937 48,943 632,880 Comparabve net movement In lutKIs. included in Ihe above are as folk)ws.' Incorning resources Resources expended Movefflenl In fund5 Unrestricted funds General fun 1.167.027 11,136,2251 30,802 Restricted funds Chairman's Appeal 2001 AccOnI 2.479 2.479 Endowment funds Bèquosls rèsÈNÈ fund Invesltnenl SerVe fund 7.388 8.274 7.388 8.274 15.662 15.662 TOTAL FUNDS 1,185.168 1.136.225) 48.943 Page 28 0132
INTERNATIONAL SHEEP DOG SOCIETY Notes to thÈ Finan¢ial Stalements continued for the year erided 31 May 2025 17. MOVEMENT IN FUNDS- continuèd A current year 12 months an(J prr year 12 monlhs combined pOsit1n i8 as follows. Net movetnenl In funds Al 3115125 Al 116r23 Unrestricted funds General fund 174.410 88.069 262,479 Re5tTlCted funds Chairman's Appeal 2(M)l Accwnl 43,022 2.479 45,501 Endowment funds Bequests reserve lund Investment Se fund TriaL% support fund 97.938 143.567 125,000 7.388 27.377 105.326 170.914 125.000 366.505 34.765 401.270 TOTAL FUNDS S83.937 125.373 709,250 A current year 12 tnonlhs aThJ prior year 12 nNJnths combined net movement in fuThJs, Included In Ihe above are as follows. Resources expended Movement in lunds resources Unrestricterl funds General lund 1.929,578 11.841.7481 88,069 Restricted funds Chairman's Appoal 2LK)1 Account 2,479 2.479 Endowmenl funds Bequests reserve fund InvÈstmenl serve fund 7.388 27.377 7.3B8 27,377 34.765 34.765 TOTAL FUNDS 1,966.822 11,841.7481 125,313 The spÈ¢ifi¢ purpose for which the funds are lo be applEd are a5 follows. Unrestricted fund5 Unreslriclod funds are to bÈ used lowardg Mee. any of ¢harilable obje¢lwes of Ihe Society 81 the discretion ol the Tru51ees Designated funds Designalod lunijs are held lo ensure ¢onlinuity of the SlY in the event of suspension of trials for two su¢cessive years lor %vhalever reason" for example a naticmal InfectU5 disease in Sheep Restricted fund5 Reslficled funds Include the Chairman's Appeal 2(X)1 which was an etnergency Jppeal for suffnI working capital lo conlinue the Charity. Pagc 29 of 32
INTERNATIONAL SHEEP DOG SOCIETY Notes to the Financial Statements - continued For thè year endèd 31 May 2025 18. EMPLOYEE BENEFIT OBLIGATIONS The Chanty op&rale5 a defined contritwlion pension scheme. The assets ol the seheme are held separately from those tsf the Charity In an Independently adm1nk81e lund. The pen510n cost chan9e represen15 contributions payable by the Chanly lo the fund and amounted to £3.704 12024" £3.8911. ConlribullS lolalling £512 12024. £21121 were payable lo the fund al Ihe reporting dale. 19. RELATED PARTY DISCLOSURES There were no related party tranwins for Ihe year ended 31 IA3y 2025. Page 30 of 32
INTERNATIONAL SHEEP DOG SOCIETY Detailed Statement of Financial A¢tivitie5 lor thè year ended 31 M#y 2025 2025 2024 INCOME AND ENDOWMENTS Donation5 and legacies Donalions or Fundraising for Trials Donations and L&ga¢ies 37.301 1.591 16.437 265 38.892 16.702 Other trading activities Sponsorships Sale of goods and slud books 15.297 48.501 16,897 66.748 63.798 83.645 Investment incom¢ Investment incorr 19,103 18.141 Charilable activilies Regislralion and slud book fee Membership subscnplion5 Trials In¢ome Magazino income Miscellaneous income 235,953 91,134 266,253 66,491 30 219.341 78.070 693,848 75.358 63 659.861 1,066.680 Total incorning resources 781.654 1,185,168 EXPENDITURE Other trading activitt*$ Trustees. expenses 8ad debls 2.574 2,605 2,096 2,574 4,701 Other trading activities Magazine costs Pur¢hase ol gox)ds. slud books Tn31s cos15 63.345 30.029 192.045 102.481 53,199 505,022 285.419 660.702 other Rent, rates and servi5 Offi¢e operation and malerkgls Computer costs Professional charges Governanee cosls Donalions and general expenses Insurance 36.452 16.094 33.671 31.801 1.800 37.705 6.628 60.934 31.125 2.750 3.679 14,859 15,051 134.869 157.680 Support costs Management Wages Carried forward 201.923 201.923 226,443 226.443 Page 31 0132
INTERNATIONAL SHEEP DOG SOCIETY Detailed Statemenl of Financtal Activities for the year ended 31 May 2025 2025 2024 Management Broughl lonward Social se¢urity Pensions Telephone Poslage printing & stationery Meolings arj Iravelling 201.923 16.585 3,704 5.820 21.024 8.596 226.443 32.304 3.891 6.321 20,097 9.780 257.652 287,842 Finan¢e 8ank charge5 Exchange lossesllgainsl 15,988 1561 14,118 271 15.832 14.389 Other Plant and machinery Fixtures and fillings Loss on sale of tangible fixed assels 463 286 1.757 578 333 2,506 911 Governance ¢tsst5 Auclilor5' rernuneralion 6.432 10,000 Total $0rS expen¢Jed 705,284 1,136,225 Net Income 76.370 48,943 Page 32 0132