CHARITY COMMISSION British Goat Society Rggistratlon number. 210646 Annual Report and Financial Statements 31 October 2023 dOdd&co British Goat Soclgty Contents Trust4ès' report Trustses. responsibliibes Independentexaminerf$ i¢port Ststern•ntoffinancd actiwtiès 10 Balan¢e sheet Notes to the financial ststements 12 Brttlsh Go•t Society Trustees. Report for the Year Ended 31 Octobgr 2023 The trustees are pleased to present their report log8lh6r with th8 finanaal statsmgnts ol th8 charity for thè yèar gnrllng 31 October 2023. Thè financial statements have bèèn prepared in accordanee wth the accounting policies #el out in the notes and comply with the Charitys gov¢mning docum&nL the Ch8ritiès Act 2011, amd Accountin9 and Reporting by Charthès". Statement ol Recommended Practice applicable to eharrtias preparing their accounts in a¢o)rdanc8 With the Financial Reportlng Standard ￿plicabl￿ in th? UK and Republi¢ cl Ireland IFRS 1021. Qbdulx numkot.. 210646 Qffjcg.. PO Box 137. Swarfey. Kent 8R8 9BW £oQuo￿ Dodd and Co Limited. FIFTEEN Rosehill. Montgomèry Way, Rosehil Estate, Carfi$l*. Cumbria CA1 2RW Rall&et%'. Uoyds Bank PLC, For8 Str•et. Okehampton, Devon, EX20 1HJ QDQ[aU£ol￿ N Parr, 118 Fr(y Grovè La￿, Woodstreet, ￿1￿jf0rd, Swrey GU3 3HB Itugeo& The Trustees seNng during thg year and Sin￿ the year-end and ony offices held or other special responsibilitieswttre as follows.. Pr•8ld•nt Mrs M H*dman lil Pr*vitsu• Prosld•nt￿t1ded to sorye as Committes memb&r.' Mr J MatthgW81¢) Chaiman.. MT N P8rr (•) Vl¢g4h#irn.' Mr R Pernblé Idl, Miss B Fairfey lrnl Other Committ•• memberB: Mr3 A Athen111 Dr J Cofr*¢k Iq) Mf T Hanna lil V Hardy (h) Mrs Ella lfjng$tone191 Mrs J Miller Ib} Mr T O'Neill lo} Dr A s￿k￿r (pl Mrs R Sparkes1g)111 Mr G Webster{fj Cu•todlan Trust•g8 {not necessarily Cornrnittèel Mr D Bra¢9 Mr B P•rry Mr R Wood 0th9r •1oct•d Offlcer• Inot Committeel Mr M Ackroyd Ikl Society S•¢r•tary (to vthorn the day to day management is delegated by th• ch8dtys tru5teesl.' Mts R Fox la} Inl- Athng Joumal Editor elected officer post being vacant) Ar¢hivi$L Ibl Commercial Liaison Offi￿r, Icl Goat Health & W8Karn C￿ordInatOr. Govemment Lialson Officer and Scientffi¢ Liaison Officer. Idl Herd Book & Grassroots Officer. ltrl Honorary Solicitor, Ifl Ovgrseas Representstive, Igl Public Relations Officerlcommunications, {hl Publi¢ty Officer, lil Show Ci>Ordinator, O'l Web Managèr, Ikl Year Book Editor. {11 Milk Recordlng Co-ordinator, Im) Finance Offiror, Inl Journal Editor, lol Al Ctrordinator. Ipl Publi¢th"on$ Co-ordinator, Iql Goat Hèalth & Welfare Officer The British Goat SocAety ra 18gistsred as a charity with thè Charity Commission. It is g0￿Med by its Rulès and Regulxtions, which dale backto 1879 and are regulady 8rnanded to allow for curfenl govgmance arrangernents. Pggg 1 Brftlsh Goat Society Truste￿. Report lor the Year Endod 31 October 2023 in A Committeg of elected members rnanagès the tharity. All mambers a￿ ¢ircul8W wth invitations to ntsminate Committee members for 8￿ction on a tri4nnual basis. The Committee consists of 14 elècted members. tho President 8ThJ the previous President, who arg all 9nb.lled to vote. New Committee membgrs rec81¥* an induction pa¢k lo brf•fthem on Iheir18gal 01￿19atiOnS undèr ehanty law and the rnanagernent and Lyeration of tha c￿rity. A c(4le¢tiM of job descriptions OLrtlining the dutK8s ol ¢•th Hon. Officer 15 also included. Thè Comrnittee adrninistèrn the charity. 11 mg9ts three times Fer year with 8ddthonal télephone and video link nfeiènces as whèn wuired, and within the main committee thèrè are three sub-group¥ Currently covering lal Adrnin & Finance Ibl Show and Milk Recording Icl Herd Book, Pub￿Clty & Website. In addition to the three SU￿rOupS ther& are Currently a Goat Health and Al ￿rkIng group. A s￿retary is aFpointed by the Commiitee to manage the day to day running ofthe offica. The charty (Jelivers many of its objec*.￿S thrDugh ￿rtnership *Drklng %%*h it8 Affilialed Sociali&s, including tho various Breed So(*eties. Thèra i% no fomal representstion of these partnors on the Comrnrtt88. Mana ement Th¢ Committee undertakes annually to idenbfy and rev￿ major risks tho charity may face. This nfom)ation is used lo dev•lop a risk wister which records the Systems aThJ procedurÈs which the charity wil implement to mitigate ri8ks that have been identified an¢J to minirnist the impact on the chanty should 8ny ol Ihose wisks materialise. A key ekment in the Manag￿￿nI of finanrAal risk is th¢ sgtting of a rgserves PDlry and its regular ew by the Committge. ctSvltl Th• oblacts Oft￿ charity are.. To clrculats knovAedg• and goneral infomiation upon goats. To extsnd and encourag• the keeping of goats, so as to intrease the prc¢Juc*on and use of their pr¢duets. To improve the various brgpds of goats 8TrJ •spgdaly to develop qualities vthich ar• generalty re¢ognv&ed and valued. To saf8guard against cruelty from vjhatever source. In fvrtheranc* of thè foregoing object8 but not futher or othèrwise, the Society shall havè th8 power Its fvrthaT th• IlbEing ol the goal and fulfil its role as the fo￿1 point for all 908t kééping actNities ￿ the United Kingdom. including closa liaison with relevAnt Govemmenl departments. The charity has the general 8irn of prowding a servicè for all vkno are int¢r9stsd in goat keepirrfd. This is achieved under the broad hèadings described below. In plannin9 our actMti•s for the year th9 trtjstees have ¢ompli8d with thg duty in the Charitles Act 2011 to hav8 duè ragard to guidance published by the Charify Commission on public benefft. In p8rt*ular. the British Goot Soc*ty eoncèntrates on the 8dvAneement of education And Ihe advancemènt of animal husbandry through the following #¢tiwt￿S and putAicalv)n5. Page 2 British Goat So¢laty Trustoes. Rgport for the Year Endod 31 October 2023 Pr me The Monthly Journal is published 11 timo$ par year and Mntw'ns n8Ws Of cuffent lÈgIslab"e￿, arlides, photographs and carrits 8dveth"semenls. Thè Year Book is publi5htd annually aThS contains arti¢l¢s, photographs and information on awards won at shvwB. The websrtè acts as a hub to make contactwth many other 9gat-k*•ping organisations. suppliers and individuAI$ as well as prowding current and long-term inforrnat'on about goats in tho UK 4nd wortdwide. Pr￿jucti A Herd Book is ptsbllshod annually detailing al ne* rsgistrations, official milk recording lactalion¥ and varic awards ¥von at $fv￿. Eath year Autumn Conferen￿5 ?r8 h•ld in conjunction with and hosted by Affilla￿d Socvat*5. These events prowdg thè opportunity lor anyo￿ In￿￿$16d in goat keeping t? meèt and share information. Milk re0)rd￿g ¥nd awards won at shows aTe id8AI indicators of th8 Potential pr(xJucti¥ity 01 goats. Thè Society activèly promotes thè improvement of mik yigld8. Mèmbershw).. at end of October 2023 Mgmbers Family Members Partnership Memb8r8 Lrfe Members Affiliated s￿l*ti*$ Totah 629 20 113 25 20 807 811 22 130 25 24 812 There *ra 86 prefDc appIl￿tionS approved this year. a Slight d•crease from 88 the prewous year. 1.982 registrations ware processed wthich was a drop on the prewous y•ars' figuTe of 2.043. Out of 1,982 ￿g￿￿tratIo[lS, 1.432 were complg18d online. During the same period 1,541 transfèrs wèrè wnpleted a slight decrease on the prawous year of 1.598. Therè ￿Te 209 seryics e•rbficates cKJmpletsd online. The use of Gr8$voots by members 15 in(Yga5ing on year. The total numberof shows in 2023 was 75 bthich is just one less than the preyious ygar. Several shows dKlnl go ahead becaus9 of a lack of entries. Thgre aro now very few malè and young stock shows and most ol the ma shows a￿ now ￿Mb1Thed wth an 'A' dassification ferna￿ show. Entrie¥ in rna￿ classes are alsg falling %%ith two shows haviThJ only malg kids pr•sent. There wèrè somè 8xcEllent milk yields at the shows with nir￿ goats milking over 7kg, some on several occasions, and goats 9kg or more. Star and Q's w•r8 gained by 53 go8ts190 in 20221 whieh Is a reflection on th• number of goats being èxhibtted at the 5how5. Fiv8 fèmale goats Ifour in 20221 and ￿ m81e goats (same nurn￿r 09 20221 gained their knll championship. Ther¢ wèrt 15 female bfeed champions120 in 20221, three male breed champions110 in 20221 and six British Gogts of Merit Itwo in 20221. 0￿ra11 the number of Champions. Breed Champions and British Goats of Mgrit is very much what wg would expect. Pag• 3 British Goat So¢lety Trustoos. Report for the Year Ended 31 Octobw 2023 The British Goal Society IBGSI Wilk Recording Sctsme enables members of affiliated BGS milk recorthng dubs to obtain milking perfomianc£ data of their sto(* over a lactakn.on period, or in some cases, an extended lactation Period. Th8 yield, aver8g6 buttorfat and average protein analysis figurés of an individua1 animal, providing th&y meet the minirnurn stsndards defrned wthin the Sch¢rn•. are officially verified and recordod as 4 milking award prefix ￿1¢￿ fom)s part of the goat's registration detsils. A rn1￿ recorded goavs figures cary through to her progeny Ifeaturing in both male and female oftspT¢ngl and serve as evidence of perfonnance to pot6ntsal hobty'st and comrnercial purchasers btsth within the UK and wtsd(hwd•. Prior lo vorificationlpuLlication, lactatitsn figur•$ arè care￿I]Y 5crutinized to eonfirm ctsmplianeè witti the rnilk r8cordiThJ ac￿Me rules, any questionab￿ lactation certificate data is referred to committee lor discu88ionldeci5ion. It is Very irnportant to m8intsin the stheme's integrity. The BGS currently has clubslgroups offering a milk recording service in different areas of the UK one in Scouand and the rèmaindgr in England. These dubs are run by Volunteer secretsrias vtho monthly collot• and send rnetnber¥' milk samples to the laboratory for anaty5i¥. Thgy maintsin detailed resums recotd¥, dystributg rg$uIts amongst members and administer the finanees associated with milk recordin9. Every y8ar. goats V4hose figures attain the qualifying standard have their details published in the BGS'S Herd Book. their achievements can also b8 W8w8d by m&mb•rs ¢￿ing Ma Grassroots. The BGS Committ89 is fully aware of cha118nges for milk re￿rdIng members and secrgtsries, aThJ vthilst not wishing lo dew819 ¥ignffic8nlty frorn ￿ sch8rn8'8 hjndamgntsl rul8J, il 1$ und?rtaking a review of thg scheme in an attempt to identify ways of making il rnore app9allr￿l0ttTa￿1v9 to rnembers in ￿ hope of irKrea$in9 num￿￿$ of milk recorded goats. Liaison with Govemment departments is c￿￿￿'ng. Mr Matlhews Bsc BVNS MRCVS has tsken *Jn the role to act as th8 Sou6ty's Honorary Goat Health and Welfare Officer. He attends meekn.ngs on the Society's bahalf, and report5 on the5ethrough the Monthly Journal and in person to the Corntntttee when appropriate. The Brili8h Go81 Soci8ty atKJ thg Goat Vgterinary Society gnjoy an exGellenl working rglationshlp whl¢h 1$ grgauy valued by tha 8rit15h Goat Soaety. The r9￿rfY formed Health S¢hemes subgroup have di$¢us$ed a number of topios relating to goal he4th, aAhough most of their t￿rne has been $p&nt investl9atin9 a range of options to help reduce fvrther the risk ol CAE. We have developed further our relatsonships *ith organisations who offer CAE testing wrfh the aim of Improving th$ $gMce that BGS mambers fechiv8. Th8 c¢mm*r¢481 goat so¢tor remains fairly stsbla at prgsgnt. Somè mil¢ 1$ bglng ¢xport¢d once moro. atthough the increased bureaucracy deriwn9 trom Brexii i¥ slill a barrier to that market. Herds are being encouraged to rear rn0￿ male kids for meat and that market is pi(*ing up slightly On￿ more. 8hhough the demisfr of Cabrtto, the moin meat marketing enterprise. has had a detriment81 effeet. Several herds have been using imported F￿nch $8m8n, Saanan and Frènch Alpinè. which is both ganomically and progany tostad giwng d&tsilèd infoftnation on thé abi1th8s of these rna185 to pass on confortnalional, produdiv8 and disease ￿ls1]ng qualiti￿. This has enabled commercial herd8 to breed for certain desirable trats, such as improved milk solids. more accurately. Further devdopments on the use of semen are currently being explored with commerual needs in mind. Both these funth.ons moniiored by Mr Matthews, MRVCS for issues of relevanee to BGS members. Any changes are nots.fied to members the Monthly Joumal and included on the web srte. elations Publlcab"onsard Eukl The BGS social media p￿Sence continues to expan¢J wth it belng availab￿ to both members and non-members tggarding goal related 8rtiGle5, inforn4tion, and pi¢luTeS. Th? Facebgok page has in¢reasgd in popularrty which allow8 U8 to build on ow offerin9$ to all ol those inter8s1od in the pag8 and what wg havg to sharo. The sorial media page enables the BGS to k8*p our followers up to dat• wth relevant no￿ in all a￿a$ of goat k•8ping. It also 8lh%vs us 8 p18tfomi to ￿ abb to premote the BGS as a souety. Pag• 4 British Goat Socigty Trustees, Report for the Year Ended 31 October 2023 The BGS continues to offer a Selection of merchandise, wrth rnor8 racantty added it¢m$, lo tho shop page that 1$ 8¢ee$8ibb through th8 BGS website. We havè updated many of our infomiation leaflets to holp those who are interested in goat keepin9 and husbandry, Ih8se vary from tseding to facts aboui goats. All of the$9 art 8v8ilabkg to dovmload dirady from the BGS website. Ths webinar5 have be¢n a great success and reathed not only our rnembern non-members too. Due to the populaiity of these they will continua into 2024 zoorn forfiJrth8r inf¢)rmation sharing and guidance. A numtér ol a>port enquiri9s retsNed. These are Ilfficult to lu￿1 du• to the limited numbgl of breeders have thè required heath ststU8. and the added complications in getting stock into the EV. The Ihreat of Bluetongu? could fvnharimplicateexports in the ￿￿1￿9 months. Britssh Goal Society w•bsrte continues to provid& a user-friendty online resour￿ lor memb¢r¥ and nofvmemters ath"ke. Acce￿ is now mainly through SmaT￿hone. though computer and tsblet rwnain popular. For members, the sho￿ area is the main gfyto section. In contr88t no1￿MemberS look for infornation on breeds. husbandry and health. wth much intere$1 in pygmy goats. We conlinugto woth dosely with OWA Digital and hav8 recenlly agreed an improved suppgrt agmmentto keep ourw•bsste running at optimum efficienGy 2417. S•m•n co1￿CtIon We have purchased semen from 5 new males at ctsst pri¢è. these ￿11 be availablè to purchase by membgrs whilst retaining some for long tgrm stoiage. The COBS semgn is in its final stsges of being transferred over to the BGS collèction. We will be offering seminars online to discuss Al topics that have been reqvosted by members affiliated ¥oryetie5. Semen colle¢lions ar8 b8ing consid* lor autumn of 2024. Flnan Totsl incoming resC￿rceS amounted to £90,426 (£174,657 In the prewus year}. Eypenditure amounted to £100.149 (£86,107 in the previous yaarl, in￿stment losses ￿tre £11,799 (£90,221 in the previou5 yearl resultin9 in a defi￿t of £21,522. Fixed Assgt In¥èstments were v¥iu¢d at £595,7101£507,708 in the provious arl. owers a 1. C8pilal growth to Covei inflation as a residual minlmum, with additional ¢apitAI growlh being regularfy idèntlfied 88 a possiblg source of incorn• lfrom salosl. 2. "Inv8stsrent for income" valuation should be maintained at Dvrnb8r 1998 Eevel by additional investments so that its rèlats"v8 Val￿ is not eTcxYed by inllabon. 3. Maximum growth •) value to be sought in growth investrn8nts, tonsistentwth low to medium 4. Maximum divhlends and interest consistent with low to medium ri8k, vthère investmentfor in¢oma Is rnade. In athigving the aims the following ¢rileria are to be appli8d'. No rnore than 5% olthe lot81 valug of Range investments to wth one company., Ng more than 20% of the ￿pital basè ol the BGS to be inveslgd ￿th a singb unli Irust or invèslm•nt trust or commort fund.. As Trmd? a dNersifi¢ation of investments ay posslble- Page S Brltlsh Goat Soclety Trusto09' Report for th• Year Ended 31 October 2023 A cash reserve to assist with day to day Tvnning ol the Society of up to ￿0,000 whieh must not to be used as part ol the dèfinition of High8r Risk or Lower Risk InvÈstmÈnts. Minimum d)argas and maxynum interest arg tg bg obtained from the Bank¥ or BuibJing Scaelies inVo￿d in the¥e short-tgrrn accounts. Recognition needs to be given to th8 fact that b8nks carry a maximum liaknlity to In￿t0￿$ of £85,000 p•r bènk group. The pattem ol investments confonrs to that recommended by th• Charity Commission•rs wardng the distn"bution bet￿￿èn Highèr Risk and Lowèr Risk Inwsbnènts. The recommèndations for allocation 8nd dislribub'on are defined in 'The Char￿.e$ (Trustee5 Inve5trents Act 19611 Order 1995." These recommend that 8 maximum of 75% of the investments shall b8 Lower Risk investments and the femaining 2S% in Highgr Risk invesbnents. Ilt is pem)issible lor some invesknents of the LcA4tr Risk type to be induded In the 75% of Higher Risk invèsbnènts, but ntst Tha BGS Commrttè8 (thè CharEty Trust8•s as dèffinad by thè 1￿1 Ad), has appointèd an indeFeTrdènt financial adwser over 15 years, experi9n￿ of invesiment managernenL and who is an auihorized person wthin the meaning of the Financial SeTrices Art 1986. The adwser so appointed produe•s reports and r8comm8ndations to go before each Committèe meeting ofth6 BGS. Tha Committee tskès dècisions aftar wcommandationsfrom thè sèr have eonsidÈrèd. Thè BGS Sècretsry inftsms the independont financi31 advi$er. in wrthng. of Comrnittsa derAsion¥ on Investments and it is on tr￿8? instructions that changes are lo be made lexc¢pl in urgent matters- see belowl. If Urgent exer#Jtive decisions need to be taken bets￿en Commrttee meets"ngs, these can be tsken by the Chaiftnan of the C￿MI￿￿O aft•r consuhation ¥￿th th8 Vicettee vall continL* to strengthen links vthh both tha Goat V8tÈrlnary Sodèty thè Mil￿ftg Goat Assr*ialion lor thè benefit ol all cOn￿rned. Pa￿6 British Goat Socièty Trusts•s' Roport for th• Y••r Endad 31 October 2023 Approvgd by thè Trust••8 20 Awil 2024 and signed on their behalf by. N Parr Trustse Page 7 British Goat So¢iety TNst•es' Responslbllltles In Tolatlon to tho Flnanclal Statements The trustoes are responsible for propariThg the Trustees, ROF￿ aThJ tho finanaal statements in accordance wth applicablè and Unitad Kingdom Aceounting Standards. The 18w épplicabk to eharibes in Engjand And Woles wuims thè trustees to p￿pare financial statements for eoeh financi81 y8ar which give a Irug and fair view ol the $tste of 8ffair5 of the charity and of the ineoming resources and application of resour￿$ of the charity for that period. In Preparing these financial slatsments. the trusteas arè r•quir•d to.. s•Lgci suitabl• accounting polici89 and thèn apply tham consist•ntty', obsèrn* thè mèthods and princip￿$ in thè Charits"8s SORP.. makè judg*nènts and èsbmatès that arè rèasonab￿ And prudènt.. state whether applicable accounting s￿￿lar￿5 have been follo*d, $ubje¢t t¢ 8ny mat¢ri81 departwes disdosed and ex￿arned in tho financial statgrnents.. and prepare the finanrAal ststernents on the going concern basis unless il is inappropriot¢ to presum8 that th8 charitywill continue In business. Th8 trustees afe respDnsible for keeping propèr actountlng records that dl8cIos8 wllh raasonabl8 accuraryy at any ts.mè the financial postbon of the charity and ènable thèrn to •n5ur• that thè financial statements comply wth the Charities Act 2011, the Ch8rty (Accounts and Report51 Regulations and the provisions of thtr trust deed. They are responsibb for safeguarding the assets of the charity and hence for reasonable steps for the and d9t8Glion of Itaud and oth8[ irr8gularib"8s. Pag• 8 Indopgndent Examlnefs Report to the Tn￿ta•S of 8rttl8h GO￿ Society I rwrt on the accounts ofth8 tharity forthe year eThJed 31 Oci¢ber 2023, which ar8 set out on pago$ 10 to 21. Your attèntion is to drawn to the fact that Ihe Charity has prepar6d the financial 6tatsments in a￿ordanCe wiÉh AcwuF>ting and R￿¢)11¢ng by ChaTilie$ prepariny th•ir accounts in aceordancé with the Financial Repo￿"n9 Standard 8pplicoble in the UK and Republic of Irgland IFRS 1021 in pr8feren¢e lo tho Accounting and Reporting by Charities.. St*rMnt of R&eomm•nded Practice issued on 1 April 2L)0S which is relerred to In the exlant gulations but has since been wilhdravm. We understand that lh￿ has been done in grdgr fof the accounts to prowd8 a tru• and fair view in ac¢oTdan¢è with the Generalty Accepted A¢eounlng Practice effective for rèporting periods beginnng on or after l January 2C119. R￿PeCtI￿ r•sponglbllltles of tru#t•eS ond •xAmln•r The Charity3 trusteeg are responsible for Ihe preparation of the accounts. Tho Iwstag$ conshl6r that an audit is not required for this year under ssetion 14412) of the Charitiès Ad 2011 Ithe 2011 Actl ¥nd that an independent examination is ne•Jed. It Is my responsibilityto: •xamino the accounts under section 145 of the 2011 Act.. frjllow the Procedur￿ lahl d1>%￿ in the Gener81 Dir8clions given by the Chanty Commisskjn under section 14515> (bl of the 2011 ACL. and state whgthor part￿lar matters have come to rny attenb"on. Bas1• ol Ind•pgndont•xaminè¢8 r•port My exarnination was carried out in attcoTdaneèwth the General Diredions glven by the Charbty Commisslon. An xaminatim includes a rewew ol the accounb'ng rgwrds kept by the charity and a ctsmparison of the 8cetsunts pre58Ntad wth those records. 11 alsts Indudes conshleration of any unusual rtoms or disclg¥urgs in thè accounts, and $aèking explanab.ons frorn you as tru5ttr•s conceming any Sud) Matters. The procedurgs undertaken do not Provide all U)e eMdence that would be rgquired in an Audff and consequendy no opinion is given a5 to wh8th8r the accounts prgseT¥t a Yrua and fair And thÈ report is limited to tho3e matters set out in the staternent bèltrw. Ind•pendent evrnineffs stat•m•nt In Conr￿1￿7nWth my examination, no mAttèr has Come to my attention.. {11 which gN8s me reasonablg C8u$e to believe that In any matewial ￿$￿et the requirernents.. to keep accKJunting ￿CordS in ac¢ordance wrth section 130 of tha Charit*s Act 2011., and lo prepare accounts which accord wilh the accounting recorKl¥, comply wth the accounting requiremgnts ol th• 2011 Act not been me( or 12} to bthith, in my opinion, 8tt0nb.on should be dravm in order to enable a pTyr understsndlng of the accounts to be ￿aGhed. FIFTEEN RosetrMII Montgomery Way Rosehill Estata CARLISLE CA12RW Tho Inson FCA & Co Limited 8rt8rsd Accountants 20 April 2024 Pagg 9 Brltlsh Goal Soclety Statement ot Financial Activities lor the Year Ended 31 October 2023 Unrestrlcted Restrlcted Totsl Fundg Tolal Funds 2023 Income DoTratK)ns 19,095 4,514 19,095 113.187 Investmènts 4.514 66,817 ,426 Charttable actmt 66.817 61,1￿• 174,657 Total ineome 90,426 ExpèndHur• RaBino funds Gharfab19 acbwlies 4,791 95.358 100.149 4.791 95,356 100,149 4,481 81,626 86,107 Tgtal 9YPgndilurg Other recognlsed gaIn￿lo$S0$ Gainslllossesl on investment assets {8,8411 14,9581 111.799} 88,5 Net incornelleyn(*turol 116.5641 14.9581 121,5221 11.6711 Trnn8f•rs Gross transfers beh4w) funds Net movement in 116,5641 14,9581 121,5221 11,671} Reconcollillon of lunds Tolal funds brought Tolal funds carrie(I foThva $83,100 s66.￿6 61.345 56,387 644,445 622,923 646,116 644,445 The notes on pages 12 10 21 form an integral part ol these linandal slatements. Page 10 British Goat Society Balance Sheet ag at 31 OCto￿r 2023 2023 2022 Fixed ••¥•ts Tangible assets Investh)ènts 12 13 2,690 595,710 598,600 1,981 507.708 509,669 Current a$￿tr Stod(s and ￿￿)rk in wogress Debtor Cash at bank and in h￿d 3,490 373 23,482 27,345 3,519 510 132,945 136,974 14 Cr•dltorn: Am4)unts falllng dyg wlthin one y•ar 15 13,022) 2.196 N•t eurr•nt a8••ts 24,323 134.776 Ntt a8••ts 622,923 644,445 Th• furtd# of the charltr. RMtrl¢t•d fund¥ 56.387 61,345 Unr•sthet•d funds Unrèstricted income fvnd¥ 566,53S 583,100 Total ¢harfty funds The finanGial statements have been prèpared aC￿r￿an￿ with thè Financ4al Repoits￿ Standard applicable in th8 UK and Republic of I￿land IFRS 1021. 622,923 644.445 Approved by thg BoaTd on 20 April 2024 atsy signed on its beh811 by.. N P8rr Trust¢e 8 Fairfey Trustee The not68 on paoes 12 to 21 fom an intagTal port ol these finanoal $tatemtnts. Page11 Brltlsh Goat Soclety Notes to the Flnancial Statements for the Year Endgd 31 October 2023 A¢countlno pollcl•8 Statsment of Compliance Thè accounts lfinanekll staternentsi have been prep8rÈd under the histofic81 cost eonvention with items re￿nISed al cost or tranS￿trOn value Unle￿ otherwise stated in the relevant nolelsl lo these acc￿Unt$. The financial statements have been prepare(J in accordance with the second edilon of the Charths Statemant of Racotnrn#nd8d Pracbce issued in Octcber 2019, the Finanual R#pDrting Standard applic4ble In the Unbted Idngdom and Rèwbli¢ of Irgland IFRS 1021 ond thè charfb.es Act2011. The accounts lfinanual ststsmentsl have been prepared to give a '￿e and wew and have departed from the Chanlles IAccounts an¢J Rèports) Règulations 2008 only to the extent requlred to pro￿de a 'true and fair vi•w'. This departur8 has involved followng Accounting and Reports"ng by Charit185 preparin9 Ih8ir 8ccounts ift acctrdancè w￿th the Financial Reporting Standard 8pplieablÈ IN Ihe UK and Rèpublic ol Ireland IFRS 1021 rather than the Accounting and Reporting by Chant￿$..staternent ol Recommended Practice effecti￿ from 1 April 2(J)5 vthicth ha$ $in¢8 baan wthdrawfft. B•$l$ of pr•parntlon The charity meets the d8finitlgn of a publi¢ benefit ?ntty under FRS 102. Assets and liabilthes are initially r¢¢ognisèd 8t hiqtorical Cost or transaction value Un￿83 otherwise ststed in Ihe relevant aecounth'ng policy notes. Golng eon¢•m Th85e l+nancial Stat￿ne[￿ hav8 b￿n p￿p￿red on • goiw¥J concèm bas18. Fund a¢¢ountlng poll¢y UnrèstrictÈd income funds are general funds that are available for use 8t the Iru5te85' di5eretion in furtherance ofthe obj'ectives ol the Charity. Rgstricted fv￿ls are those donated for use in a particular area or for Specific purpoBeS. the use ol which is stn'cted to that area or puwsa. Furtherdetails ol each fvnd are disclos8d in note 18. In¢om• and endowments Donations and legacies ar8 r¢wgni8gd wherg there 18 onliugment, pmbability of receipt and thè Amountcan bè mèasured with suffiuent reliabblty. Income from Govemment and other grant$, whether'¢apital' grants or'revenue, grants. is recogni8ed when the charity has ent￿ement to the funds, ony perfom)ance Conditio￿ attached to the grants have been met, it is probable that the incA)me thill be racèivèd and the ￿OUnt can be measu￿4 reliably and is not defer￿￿. Investsrentincome is r8cognisad on a rèeèivabla basis. Income from tharitable actimties indu¢J&s incx)m8 r&ctyJnised as eamed las the related goods or $em￿S arn provid8dl undgr contrad. Pagg12 Britlsh Goat Soclety Notes to the Fln•n¢ial Statements for th• Year End￿ 31 Octobgr 2023 Exp•ndltvr• Lk2b1if(￿S are rècognised as soon as thgrg is a legal or con5tructivg gbligakn.on commth'ng thé charty to the eY4)enditure. All txpondrture is accounted for on an accruals basis and ha$ been dassified undgr haadings that aggregate al costs related to the category. Costs ofraislng fijnds are In￿51m￿nt management tees. Charitsbla expenditure compris95 thos8 ¢o$ts incuffed by the charity in the delivtry of rts aCtivrti￿ and servi￿£ for its beneficiaries.11 iTKlud8s both cKJsts that Can bs ollocated directly to such ath"Mti8s and those costs of an indirect natur8 necessary to support them. Grants payable arè paym8nts made to third parties in the fijrtheran￿ of the Charita￿e objectives. Where the charty gi4p3 a grant wth conditions for ts payment being a spe¢ifi¢ kvel of serw(e or outyut to be pro*ided, such grants 8re ortty recognised in Sc*FA onch the rerypient of the gfant has prOv￿ad tha Sp￿a￿c5erVl¢è or output. Grants payable wthout perf0mian￿ conditions are only Tewgni5ed in the •¢counts when a commitment has been made and there are no condthons to bo met relaling to thè grantvthich remain in Ihe control of the charity. Piovlslons for grants aTg mgd8 when the intention to m8k• a grant been eommunicated to the recipwdnt but there is uncertainty about èither the timing of thg gr•nt or the amount of grant payabkn. Support co•t• Support include ￿ntral functions and ma￿ been allocatsd to aetivsty C05t categgri¢$ on a basis eonsistsnt vith thg u$¢ of resources, for examp18, allocating pro￿rtY costs by flotsr areas, or per capita, Stalf cost5 by the time ¥Jgnt and othar c051s by their usage. Flxed a8•9ts Individual fixed 88sets costin9 E100 or mora aro initially re¢ordad at CAISL Dopr•clatlon Depreriation is provKled on tangible fixed a558ts $0 as to write off the Cost or valuation, k$$ any éstimated sidual Value. over theirexpected usefvl Konomie life as follows.. Computer eqtjipment 20% reducing balance bask8 Fixiures. ffttings and equ￿)ment 33% reducing balance basis Ca*h And Cash Equivolonts Cash and ￿¥h 8quivAlents comprise ¢ash on hand and c￿11 d8P05i15. and other short-term highly liquid investments that are readity converb'bh to a known amount of ￿8h and aTè subJ'&ctlo an in6ignJfi¢ant risk of chAnge in valutt. IMI￿trn9n1s Fixed assèt investrnents are included at marketvalue at lh¢ balance sheet dats. Realised gains and losses on inve$tmènts arè calculated a¥ thè ￿h￿e￿nce betsyeen sale$ proceeds and their mathet value 01 the start ol the year, or thair subsequert cost, and ar¢ charged or credited to th8 statement ofthe financial 8ctivib.ès In tho period oldi$posal. Unreali¥ed gains and k)sses fepresent th¥ movement in rnathet values during the ye8r and are Gr*dited or d)arged to Ihe ytatèmènt of financial acbvities based on thg mark8tVaI￿ at the year end. Pag•13 British Goat Society Notes to the Finan¢lal Statements for the Year Ended 31 O¢tobèr 2023 .. conhrpued Stock Stock 18 valued at Ihe l¢)wer of cost and ngt realisable value. after due regard for obsolete and slow Mo￿n9 stod(s. Net realisable value is based on selling price less anticipated costs to completion and selling costs. It•ms donat•d for r8sak or distributs.on ar• not ibKhJd8d in th• finanaal sta1•m￿ts unl"1 thèy arè sola or di$tributad. P•nsions The chority operates 8 defined eonln"bution pension scheme. Contn"bub"ons are charged in the statement of finaneial adwth"e5 as they become payabk in 8ccordanc8 with th8 rules of Ihe 5d￿rn&. Do￿11•na •nd1o91¢10¥ Unr•$trftt•d Restri¢t•d Totsl Funds Totsl Fund¥ Funds Funds 2023 2022 Donalions •nd Ipgacie Legacies and bequests vpeaL8 and th)nat￿n5 18,622 473 19,095 18.622 473 19,095 112.000 1,1e7 113,1e7 l of the donations andlega￿e5 incom• in 2022 rplated to unrestrict8d funds. Invè$tment& Unrestrlcted Restrletrd Total Fund$ Totsl Funds Funds Fund$ 2023 2022 Income frcffl other unlistefl investsnents 4,514 4,514 All of the investment income in 2022 related to unrestrictsd bjnds. Page 14 British Goat Society Notes to the Financlal Ststem•nts for the Year Endod 31 O¢tob8r 2023 . continued ¢￿TI￿bI• actfvliles Unro$trl¢t¢d R•8trl¢t•d Tolal Funds Total Fund• Funds Fund¥ 2023 2022 Promovng and Nnnlng the •oci•ty Membèr subscAiptions Adwrtising Show recognition fees S•les of publication8 and good8 Reclaimed postsgg Milk r8¢ording Reglstration lees, transfèrs, prefixes e S8m8n sal 30,841 430 4.157 1,613 10B 570 28.638 460 66,817 30.841 430 4,157 1.613 26,125 884 1,520 1,919 152 370 29,859 561 61,190 570 28.636 460 66.817 Al oltho income from tharitsbl$ ac￿￿beS in 2022 rèlatsd to unr&strict8d funds. Page 15 British Goat Society Notss to the Flnancial stat￿n•￿ts for the Year Ended 31 October 2023 cont￿￿9d Exp•ndlluM Ralslng funds Promotlng and runnln9 th• $o¢l•ty Total 2023 Total 2022 DIr¥￿ costs Grants payablè- indiwdual$ Printing and postsge Show expen5e5 Products lor res818 BGS sèman ￿lleCtIon 2,50D 14.503 2.619 2.500 14,503 2,619 14,434 1,103 904 1,395 17,8 1,401 21,871 1,401 21,871 Support ¢06ts Employmgnt cost Insuranee Telephone and fax Compu￿[ sofiwara and maint•nanc8 c05t$ Printing, postsge and ststsonery Office rènt Sundry e¥)ense6 Cost of trustee rn8etingg Accountancy faas Inde￿ndent exarninerfs fee Costs of obtaining invastrnant ad￿ce Bank charges DeP￿￿/tIOn of ¢omputerequipmgnt Deprouation of fixlurg$, fittirv45 and equipment 33.018 431 1.130 8.788 13.145 7.624 1,897 3,979 2.226 33,018 431 1,130 8,788 13,145 7,624 1,8g7 3,979 2,228 4SO 4,791 32,276 367 898 5,449 16,118 3,834 439 1,848 1.591 420 4,481 18 451 81 88.271 4.791 361 390 73.487 361 4,791 78,278 4.791 95.358 100.149 86.107 All of the expend￿re in 2022 related to ￿TeStriCtsd fuThJs. Grantmaklng Grnntsto indlvldual# Prornoting the scKiety 2,500 Page 16 Britijh Goat Society Not￿ to the Flnanelal Statements for th• Year Ended 31 Oclob•r 2023 trontinued Gov•man¢¢ costs 2023 2022 Cost of trustee mostings Ac￿untan¢Y tees Independent examin•fs f8• 3,979 2,228 1.848 1,591 420 3,859 6.667 Trt￿te￿. rgrnun•rntlon and exp•n•e8 Dudng the year travgllirvJ administration expensè8 M-irnbursed to 17 Trusts￿ ttstal￿d £3,69212022- £1,577 to 13 Trusteo$1. No trust80 recei¥ed any ramuneration during eilhery8ar. Not (outgoingVln¢omlng rn8our¢ Net loutgoingifin¢omlng r8source5 is Statod aft¢r charging. 2023 2022 Depreciation of langibb fNed assets 751 532 10 Employee•. r•mun•ratlon Thè monlhty average number of persons linduding senior management) enwloy&l by th& ¢hath during the yearwas as follows". 2023 2022 No. Chaiitsble activthos The aggregate payroll costs ofthese p8mns were as follows.. 2023 2022 Wages and salaries Oth8T p8nsion costa 32,238 31,518 758 32,276 33,018 No 8mpbyee r¥¢8lved èmoluments of more than £60.000 during the ye8r {2022- No. O}. Page 17 British Goat Society Notes to the Flnan¢lal Statements for Ihe Year Ended 31 O¢tober 2023 11 Taxation The registered tharity is exempt from taxation on income and gains. 12 Tangiblo fixed assets Fixtures, rfftings and equlpment eomput•r equlpment Totsl As at 1 November 2022 Additions A$ 4t 31 Octrt4r 2023 30.303 8,960 1,680 8,640 37283 1,680 38,943 30,303 Deprnclallon As at 1 November 2022 Charge forthe year As at 31 Octotér 2023 28,499 361 28,860 6,803 390 7.193 35,302 751 36,053 N•t l)ook valu• AS at 31 Octob8r 2023 As at 31 Octoter 2022 1,443 1,804 1.447 157 2,890 1,961 13 Inve#tments held 0$ fixed •￿ets Llsted Inv•$bn•nts Market v•lue As at 1 November 2022 Rgvaluakn'on Additsons Dk8pcsa15 As at 31 Octot•r 2023 507,708 111,7991 104,514 14,7131 595,710 Net bgok vol As at 31 October 2023 A6 at 31 October2022 59S,710 507,708 P￿6 18 Brltlsh Goat Socldy Notes to the Finan¢ial Ststements for the Year Ended 31 October 2023 continu8d 14 D•bto 2023 2022 Olher debtors Prepayments and accrued income 24 349 373 510 510 15 Cr•dltorn.' Amounts f4lllng duo whhin y•ar 2023 2022 Tr8¢Jts crodrtors Taxab"on and so¢ial Se￿rity A¢¢ruo1¥ and defgrred incorne 1,205 553 1,645 2,198 1,817 3,022 16 P•nslon 8ch•m• Defined contribution pemlon •cherne The tharity operates a defined contributyon pan$lon $chgmg. Tho pgnslon ¢ost chargg for the pg1Sod represents eontributions p8yablo by tha tharity to thg ￿h￿rne and amounted to £78012022- £7581. There wère no outstandin9 or prepaid contributson5 at ￿ther tho beginning or ond of the financial yoar. Page19 British Goat Society Note5 to the Financlal Statements lor the Yoar Ended 31 Octobgr 2023 17 R•l•t•d portio8 Controlling entity The eharity Is eontrolled by the trustees. R•lat•d party tran¥a¢tlorf6 There ha¥f teen no related paity transactions in the year. 18 AN￿18 offundB Other r•cognl$•d At31 gaInGlloss￿ O¢tob•r 2023 Novombor 2022 In¢omlng r¢sourc•s Resourc•$ •wnd•d General Fund un￿tricted income fund 583,100 90,426 1100,1491 16,8411 5fj6,536 R•8trl¢t•d Funds The Centènary Fund 61.345 14.9581 56,387 644,445 90,426 1100,1491 111,7991 822,923 The Centenary Fun¢ was laun(*ed by a speaal appeal in 1978 and 1979. The purpose of the fvnd is to support worthwhile r&5earch PToj$Lts that th$ SoC￿ty does not f•èl ab￿ to support out of subscription and rg9i$tration fee incom?. Page 20 Br5tlsh Goat Society Note5 to the Flnancial Stst¢ments for the Y&ar Endod 31 October 2023 Prlor p•rlod Atl N0￿mb•r 2021 Other r•¢ognl•¢d gainsllosses At31 Octob•r 2022 Ineomlng ro$our¢ Resour￿1 txpend•d Ggnèral Funds Unrestiithd in¢ome fijnd 573,389 174,857 188.107) 178,8391 583.100 R•strkted Fun Thè Centenory Fund 72.727 848,116 111.3821 190,2211 61,345 644,445 174,657 186.1071 19 N•t 088•ts by fund UnTe8trl¢t•d Fund R•stri¢t•d Fund• Total Fund• 2023 Total Funds 2022 Tongible assets Investrnents Current assets Creditors.. Amounts tslllng duo within one year Ngt assets 2.890 539.596 27,072 2.890 595,710 27.345 1,961 $07.708 136.974 56.114 273 13,0221 566.536 13.0221 622,923 12.1981 644,445 56,387 Prior p•rlod Unre8trfctsd Funds R•¥tricts4 Fund# Total Funda 2022 Total Funds 2021 Tangible assets Inve5trngnts Current assets Creditors.. Amounts falling duè wilhln one yèar Ntrt assats 1,961 446.636 136.701 12.1981 583.100 1.961 507,708 138,974 12,1981 644,445 2,493 634,242 13,610 {4,2291 646.116 61,072 273 61,345 Pag& 21