CHARITY COMMISSION British Goat Society Reglstratlon number: 210646 Annual Report and Financial ststements 31 October 2024 dOdd&co Britlsh Gaat Society Contents Tru*ees' report Trustees. re5ponsibilitièS Independgnt examinerfs rekYJrt Statement of fiThanc4al ￿1vi￿8$ 10 Balan￿ sheet Nolgs to the finanaal stateTnents 12 British Goal Society Trustees. Report for the Year Endèd 31 Octobor 2024 The trustees are pleased to present thelr report togethèr with th8 financial staternent3 of the charity for the year ending 31 October 2024. The financial statements have b8en PTepgred in accordanrA wth the xo)unbng policie5 set out in the notes and cornply th th8 Charitys govemning document, tho Charities Act 2011, arnd Accountrng and R8porting by Charities. Statément of Recommended practi￿ appllcable to charities preparing their a(tounts in accordantx the Finanaal Reporting Standard applicab￿ in the UK and R8public of IrÈland IFRS 1021. Réfèrence and adminlstra Charit numbèr.. 21W6 Prina al Offi￿.. PO Box 137. Swanlgy, Kent 8R8 98W ccountsnts.. Dodd & Co, FIFTEEN Rosehill, IAontgomery Way, Rosehill Estate, Carlisle. Cumbria CAI 2RW Lloyds B8nk PLC, F¢Ne Street, Okghampton, Devon, EX20 IHJ tlollotau£oliGitot. Mr N Parr, 118 Fmg Grove La￿. Woodstre8( Guildford, Surray GU3 3HB I[u&t0￿ The Tru5te8s semng duriThJ the yo8r and Sin￿ the year-end 8nd 8ny Offic￿ held OT olh$r spacial respongibilitieswere as follows.. Presldgnt: Mrs M HaTdman lil Prfjvlous Pr8¥idententitl8d lo as Committ88 member.. Mr J Matthews Ic Chalmian.- Mr N Parr lel Vlce.¢halrs.' Mr R Pemblg Idl, Miss B Fa¥dey Im) Othor Comrnltt¢• momb•Ys: Mr8 A Artken 111 Dr J Colbed( Iql Mr T Hanna O") Mrs V Hardy Ihl Mrs Ella Kingstone {91 Mr3 J Mlller Ibl Mr T O'Neill lol Dr A Sieker (pl Mrs R Sparf(es Igl111 Mr G W8bsterlfj Cu8todlan Trustse$ (not necessarily Comrnitteel Mr D Brace Mr B Pery Mr Rwood Other elected Officers Inot Commrtteel Mr M Ad(royd Ikl 80¢igty Sècretary (to whom the day to day rnan8gement is d8￿gated by the charitys trustees).. Mrs R Fox {al Inl-Acting Joumal Editor {the eled& off￿erpOSt bein9 vacentl lal Archivist. Ibl Commercial Liaison offi￿r, Icl Goal Health & Welfare Co-ordinator, Goverwwnent Liaison Qffi¢sr and Scientific ￿alSOn offi￿r, Idl Herd Book & Grassroots Officar, lel Honorary Solieitor, {fj Over3e85 Representstiv8, Igl Public Relations Offi¢erlCornmunications, Ihl Publicity OfficAr, Ill Show Co-otdinator, Q'I Web Manager, Ikl Year Book Edthr, 111 Milk Recording CTrOrdinator, Im) Financ£ Officer, Inl Joumal Editor. lol Al Ctrordinator, (pl Publications Co-ordinat￿. Iql Goat He81th & Walfare Officer rnin um The British Goat Soc4ety is re9iStered as a charity with the Charity Commission. It is govamed by its RulÈs and Regulalioris. which date bad( to 1879 and are regularly amended to allow for current governarn￿ arfangem8nts. Page 1 British Goat Society Trustee5' Report for the Year Endgd 31 (ktober 2024 intmenl Lf tNst8es A Committee of ekcled memb8rs manages the charity. All members are circulated wth inwtsth.ans to nominate CcKnmittee members for election on a tn"-8nnual basis. The Comrnrtiee consists of 14 elected MeM￿r$, thè President and the previous President. ￿ are all ent￿ed to vote. New Committee members re￿1ve an induction pack to brief them on their legal c￿￿jationS under ¢harity law and the management 8n¢J operaoon of the charty. A c4)Ilection of job descriptions outlining the duts.es of each Hon. OffI￿r is also induded. Or anisation The Committee administsr3 tho ch8nty. It Meets Ihree times per year wrth a￿￿￿onSI ts18phon• and wdeo link CL)nlerences as and ￿en required, and within the rnain committaè there are three Sub￿rOupS cJJrTendy covering lal AdmSn & Finance Ibl Show and IAilk Recording Icl H8rd Book, Publicty & Websile. In addition lo the ihrèa sub-groups ther8 are curr8nUy a Goat H6alth and Al working group. A Secr8t8ry ig 8ppcinte(I by the Committee to manage the day to day running of Ihg office. The charity delwers m8ny of it8 0￿.ectiveS through partnership wothing wth its Affiliatsd So¢igfj9$. Includlng tho various Bre8d SOL¥et￿$. There is no fomial repres8ntation of t￿se pathers on the Committee. Mana ement Th8 Committee undertakes annually to id8ntify and remew major risks the charity may fac•. This infomi8tion is used to develop a risk registsr which ￿cOrdS the system$ and proceduras which the diarty wll implefflent to mitigate the risks that have been identified and to minimise the imparl on the th8fTty should any of those risks materialise. A key element in the management of finanasl risk is the setting of a reser￿ p￿1¢Y and its regular review by the Cc#nmittee. The obj.ects of the charity are.. To urculate knowledge and 98ner81 information upon goats. To extend and en¢xurage the keeping of goats, so as to increase the PToduction and usg of the¥r pioduci5. To irnprov8 the various breeds of goats and especially to davèlcp those qualities which 8re generÈlty rewgnis8d valued. To safeguard against cwelty from whatever source. In fvrtherance of th8 fotsgoing objects but not lurther or otherwise, the So¢iety Shall ha￿ the powerto further the wellljeing of the goat and ￿lfil its role as the focal ptsint lor all goat keeping artiwties in thè United Kingdom. including dose liaison wth relevant Govemment depaftrnents. The chanty has the general aim of providing a seTwce for all who ara Interested in goat keepiThJ. This is achieved under thè broad hèadings described below. In planning our activits8s fartha year the trustees hsve eomplied wth th9 duty in Charib8s Aet to have due regard to gU#Ja￿ published by the Chaftty Commission on public benefit In partiwlar, the British Goat Society con￿ntrate$ on the advancement of education and the advancemant of animal husbandry through the followng ath"vit￿S and publications. Pa98 2 British Goat Society Trustees. Report for the Year Ended 31 OGtob•r 2024 The Monthly Joumal is published 11 times per year and witslns n6ws of current legislation. art￿e$. photographs and carries advsrtisements. The Year Book is published 8nnually and contains ortides, photographs and infofrnation on 8vrdTds won at show8. The wèbsita acts as a hub to make ￿n￿et￿th many othergoat-keeping organisations, S￿pIlerS and indiwduals as well as prowding current bnd long-temi informatk)n about goats in the UK and wortdwde. A Herd Botsk is published 8nnu81ty dètalling all new registrations, offic#al milk recLJrding lactstions and variojs awards won at shows. mn Conferen Each year Autumn ConfererKEs are held ￿ conjunction with and h05ted by Affiliated Societies. These èvents provide the opportunityforanyone interestsd in goat keeping to meet and share inforrnation. Milk recA)rding and 8W8rds won at shows are ideal indicators of th8 Potential produ¢tlvlty of goats. The Swety actively promotes th8 irnpTovement of milk yields. Marnbership.. at end ofOLtd)8r 2024 Members Family Mgmbers Partnership Members Life Members Affili818d Societies Total# 629 20 113 25 20 807 16 25 20 773 There were 87 prefix applications approved this year, a d8crease from 86 the previous yèar. 1826 registrations were procEss8d whith was 8 drop on the previous years, figure of 1982. Out of 1826 registrations, 1358 were mpletèd online. During the same period 1358 translers were complÈtèd a slight decrease on tho pTe￿louS year of 1541. There were 156 service cerb'ficates completed online. The use of Grassroots by members is increasing year on ye8r. The total number of shows in 2024 was 77 whith is more than the previ)us year. (￿at dasses at several shows ware cancdled due to la(* ¢f ￿trfes. however, several rnor8 mala and young Stock shows took pla￿. Entries at some shows were poor bul Swuand, in pa￿cUlar, bucked that trend with well supported dasses. Entries in malè dasses continue to cause concArn. Thèr& were some 8xc8llent milk yields with four goats milking over 8kg. sadly there were also a number of goats failing on milk yield. There h8S ahvays been the odd Sampl8 sult which has come b8rJt 8ither spilt or sour, however, 2024 saw o sharp increase in spilt samples resulting in a number of goats losing out on aw8rds. Star and Q's wgre gained by 64 goats153 in 20231 which is an encouraging increase. Two female goats lfive in 20231 and one rnale goat I￿0 in 20231 g8ined thair fvll championship. There were 15 female b￿ed ¢hampions lthe same number as 20231, male breed champions (three in 2Q2318nd six female BritLsh Goats of Merit (six In 20231. DespTie th8 increasing challenges the numbgr of Champions, Breed Champions and British Goats of Merit is very rnuch what would expèct. Paga 3 British Goat Society Trustees, Report for the Year Ended 31 October 2024 I￿{ Recordin The Br￿"Sh Goat Soaety (BGSI Milk Recording Scherre gnabbs rn9rnbers of affiliated BGS milk ￿¢￿rdIng dubs to obtain milking pèrftsrrnan￿ data ol their stod( over a lactgtion period, or in some cases, an extende¢J lactation peri(xl. The yield. aveTagg butterfat and average protein analysi8 figure3 of an individu81 animal. prowding they meet the rninirnurn standards defined within the Scheme, a￿ offiaalty verified and rernrd￿ as a milking award prefix which foms part of the goal's r￿l$tration d8tai15. A milk recorded goat'5 figures carry through to her progeny IfeatUriNJ in both male and female offsprin912nd 88rve as evidence of perforrnan￿ to potential hobbyist 8nd Commer￿￿1 purchas8rs both within the UK and worfdwide. Prior to verifir2tionlpublieatton, lactats.on figures are carefully suutinized to confim complian￿ wth the milk recording scheme rU￿s, any questionaiAe lact8tion certificate data is referred to ￿rnmrttee f¢r discussionldèusion. It is very important to maintain the schemè's integnty. Thè BGS currenyy has dubslgroups offering a milk recording sarvK8 in different8re85 of the UK. one in So)tland and the remainder in England. These clubs are run by volunteer 8ecret8ries who rnonthty rA)IIBte and send mernbers. milk samples to the laboratory for analysis. They maintain detailed results rewrds, distribute results anongst members and administer the fin8nc&s 8850ciated wth milk recording. Every year. wats who3e figu￿5 attain the qualifying standard have their details published in the BGS'S Herd Book. their achievements can also Mewed by memb8rs on-lina via Grassroots. The BGS Corllmitt8e is lully aware of challenges for milk recordirg rnembers and settetaries, and whilst not W18hing lo deviate signifi¢8ntly from th8 schème's fundamentsl rules, it is undertakiro a revw4 of tr* scheme In an attempt to identify ways of making it MOF app881ingl8ttractiveto members In the hopa of increasin9 numters of milk reeorded goats. Liaisan ￿th Govemment departments is on*oino. Mr M8thews Bsc BVMS MRCVS has continued in the role as thé SoLxety's Honoiary Goat Health and Welfare Officer. He attends me8tings on the Society's behalf, and reports on th￿e through the Monthly Joumal and in person to the Committee when 8ppr(yri¥te. The Britr'$h Go8t Society 8nd the Goat Vetèrinary Soa6ty enjoy an exctllent wcKkiTrJ relationshipwhi¢h Is greatly valued by the British Goat Society. The Goat Veterinèry Society has produced a questionnaire. whith wll be dislributetj to BGS members and other interested group$ this spring. Thè Bri￿sh Goat Souety continues to Monitor the incidence of CAE p¢>S[N￿ goats bairo record￿ by the testing laboratorÉs. The submission lomis for CAE test submissions by rnernbers have been modified to indude dedaration that that m0rnb$rs' goats ar6 not in contact with sheep that are not fr88 from Ma8di Visna wrus, a rus sim*arto CAE that can be transmitted te 008ts. There is also ongoing discussions on wlh the Goat Veterinary SOc￿ty about￿ntrOl ofJohnes di8e889. Commercial The commeraal goat sector remains fairly stable with the majotity of large producers well established and wi k)ng tsrm ￿￿tracts for their produce. Smaller, arb$an producers are continuing to develop goat products with some new onès enterfng the sectorthere is a good variety available ￿lch h91ps to SUPWtthè market The constraints on rnilk production art easing slightly and meat marf(et ccfflbnues to improve. There is now capauty at abattoirs to d&81 with g08ts partly duè to shnnkagè in the national sheep flcrk as well as a reduction in sud(lercatUe and dairy herd numberB and overall meat priees, including goat mea( have improved. Many herds have better developed breeding programmes to irnprove tho quality aThJ productivity of their 5too* Al ss bèing use(1 to introduce needed genetic material. A projectto dèvelop sexed semen Is ongoing which if s￿￿￿ful wll allow herds tts usa expensive semen more effectively. Hea￿h and wellarp ￿maIn a top priorlty, aspecially wth the In￿aSir0 interest in how food is prodLK8d from custhers and other interested bodies. Both these functions are monitored by Mr Matthews, MRVCS for issues of relevaTKe to BGS mernb$r¥. Any ehangas ara not￿&d to members via the Monthly Journal and included on the web site. Page 4 Britlsh Goat Society Trusteeg. Report for the Year Ended 31 Odober 2024 Eutstio Relation The BGS social media presenee conts"nue5 to grow with fts availability to both BGS mgmbers and nortrmernbws. We use the social media platforms to share goat related articjes. Inlomiation. picturés and during the show season, show resuts. The FacÉbook page has a great followng which allows us to use this to share our offerings to all ol those interestod in the page and BGS content. The plarfom enables the BGS to keep our lollowers up to date wth relevant n8w3 in all a￿aS of goat keeping as wèll as promoting the BGS 85 8 sOC￿ty. The BGS has a selection of merchandise which 1$ avallable lo purchase from the shop page through th8 BGS W8bsite. W8 continue to update many of the BGS information leaflets to help those who ara intorested in goat keeping and husb8ndry. these vary from f8adlng to lacts about goats. All of th6se are available to ¢Joumload diredy from the BGS website. The webinars conb'nue to t* 8 great 8ucLe$s 8nd reach not only BGS members bLrt non-memb¢r¥ too. N weblnars are already p18nnèd for 2025 on health topies as well as show preparation. The webinars are 8 Qfè8t way of Infomats'on sh8ring and sh(A¥ing what the BGS has to offerwith regards to argas of interest. A number of export enquiries 8r8 r￿1ved. These are difficult lo fvffil due to the limited number of breeders have the required health $tatLJS. 8nd the added complications in getting stod( into the EU. The threat of Bluetongue could further implicale exports in the tyjmlng months. The Bribsh Go8t SoKiety website continues to prowde a user-hiendly online rèsource lor membets 2nd non-mèmbers alike. ArrBss is now mainty through smartphone, though computsr and tsbl8t remain powlar. For rnembèrs, the Sh)ws area is the main gTrtQ 58clion. In contrast non-members look for inforn8ts.on on breeds, husbandry and health, with m￿h interest In pygmy goats. We continue to work Closely with OWA Digit818nd have recenuy agreed an improved support agr88mènt to k•8P ourwebslte running at optitnum efficiency 2417. Semen from 4 maJe8 was sold during the ye8r, and are still finalising the transfér 01 COBS semen owng to a few delays and slight chang85 in the offer. An A￿sSing Al sominar took wth sgv8ral rn8mbers attending, enquiries for semen and inseminators have been received and resrK)nded to. Semen coll8ction5 we sadly put th hold again ¢Jue to the Blue Tongue oulbreak whith saw half ofth6 Country on movement restrictions ongoino collei*on ara baing considered by the sub group and commilt88. A small working group was fomed in 2023 to look at the possitsility of devising 8 scheme of linear asses8mentloT goatkeepers in the UK. Many countries already use linear 355essment to improva thair stcd( and ensure that 5t8ndards are upheld. Best practices were adopted from a vari8ty ol sources resutting in 8 sconng system being agreed. In March 2024 the LinearA55essment group was increas8d in number and a meeting took place to agree how to proceed before 'tri8f linear asse55rnents could take place. The linear assèssment fom wa$ finalised and diagrams wer8 supplied to illustrateeg teat pla￿￿ent, topline etc. Several herd$ very kindly agreed lo have their herds linear assessed 8nd th8S8 assessments took plaets In tre SummerlAuturnn of 2024. The fe8dbad( was rx)srbve from all invdved. FSnancial Totsl incoming rè$ourc8s amountsd trt £75,8311£90.426 in the prewou3 yearl. Expenditure amoUnt￿j to £94.113 (£100,149 in the prewous yearl resulting in a $urplus of £88,099. Fixed Asset Investrnents were valued at £680,0831£595,710 in th8 premous yearl. Total reserve3 at the year end were £689,022 of which £609,795 were unrestiicted and £606,537 were fr¢& reserves induding investm8nts. Page 5 Brltlsh Goat Society Tru8te8s' Report forthe Year Ended 31 Octobor 2024 Inveslrnentpou&tSAod pollG¥ 1. Capital grovm to cover inflation as a residual minimum, ad¢J￿"Onal capital growth b*ng regularfy *aentifiad as a possible source of income lfrorn sales). 2. Investrnent for income" Valuation should be maintsined at De￿rnber 1998 le￿1 by edd￿Onal invesbnents so 1hat ts relative value is not eroded by inn8bon. 3. MaxTnum growth in value to be sought in growth Invastments, con$Y6tent with low to rnedium risk. 4. Maxinum dividands and interestconsistsntwilh low to medlum risk, where inveslrnent for incoma is made. In 8thwing thg ams the fdlwng criteria are to be applled". No tnore than 5% ofthe total value ofwide R8ngè Inwstmentsto be wth on8 cnmp8ny'. No morg than 20% of the capitsl base of the BGS to b¢ Investad wilh a sngle unit trnst or investment trust or common fund., As wid8 a diversification of Investments as possiNe', A cash reserve to asslst wlh day to day Nnning ol the Soryety of up to £20,000 whith must not to be used as part of the definition of Higher Risk or Lower Risk investments. Minimwn charges and maximum interest are to be obtained frorn th$ 8anks or Building So(aeties involvsd in these short-tsmi accounts. Recognitloll ll88d5 to be given to the fad that banks earry 8 maximum lialilty to investors of £85,OC per bank group. The pattern of investrn8nts conforrns to that rec￿mmended by the Charity Commk%sioners regardiro the distnbution between Higher Risk Ènd Low8r Risk investments. The recornrnendations for allocthon and distrtbution are defined in 'The Charities CTru8t8es Investrnents Act 19611 Order 1995." These recommend that a maximum of 75% of the Investments shall be Lower Risk invèstmènts and the Temaining 25.lo in Higher Risk investrnents. Ilt is permissible for some investrnents ol the Lower Risk tts be indu(Jed in the 75% of Higher Risk Snvesbnents, but not wce-vers8.1 The BGS Committee Ith8 Charity Trust8es as d8finad by the 1981 Act), has 8pptsintsd an Independent finanaal adviser with over 15 years, experien￿ of investment m8n8gement. and who is an 8Uthorized person vAthSn the rneaning ofthé Finanaal Semces Act 1988. The adwser so appointed pr(Mluces reFM)rts and re￿MMendationS to go before eath Committee meeting of the BGS. The Comrnittee takes deasions aftèr reccmmendations from tho adviser have been considered. The BGS S8crèlary informs the indep8nd8nt finanaal adviser, in wril'ng, of Comrnittee decisions on investsnents and it is on thesè instructiorts that c*arKJes are to be made lèxcBpt In urgent matters- s8e below). If urgent 8X8cutiv8 decision5 naed to be taken be￿¥een Commitletr meetI￿j$. these c8n be taken by the Chaimian ofthe Comrnitt8e aft81 consultation with U)e Vice-chaimen and two oth6r Trustees ofthe BGS. Under the 1961 Acl the Custodian Ttustsas "have no power to rnake m8nagsment dec4slons and must act on lawtul instrUct￿n of the Ch8rity Trustees li.e. the Committee of management)" The Committee, whilst [Q￿gnizing this fomial limitation, wishes to record in thls policy rts recommendation lor the Chairman to consult with the Custodian Tru5teÈs. All urgent aelions sanctioned by the Chaimi8n of the Commrttee Must be confirm8d in writing (letter or em8iS1 to the financial advisEr, wth copies being distribut6d at tha next Committee meeting. It follows that if the finanrial adviserfaels that urgent action is required the first line contact should be the C_hainnan of (he Cornmittee, or in thwrabsence or unavailability. the BGS Secretsry. Th8 BGS finanaal policy is placed on the agend8 of thé ffirsl Committee Meeting aft&r the AGM In each year, re fc is TeM8W8d 8fKI il ne￿ssary, amendments made. Th¢ financial adwser submits any suggesb'ons foi amendment to the policy to the BGS Secretsry by April 1st. together with 8n ests.mate of fees for his servic88 for the follo￿r￿J iwelve months. Page 8 British Goat Society Trustees. Report for the Yoar Ended 31 O¢tob8r 2024 The Comrnrttee reserves the right to amend the investment polw at any Commrtioe Meeting. AL*on could indude con$ultation with Iha indopendent financ4al ad*iser. The Society will kegp ts working capital accounts 8t no less than the wrrÈnl gross capktsl budget set by thè committee in August È8th year. Whenever necessary, investments should be Sold. at an appropriats time, to aintain this level. Our applications to the RBST will hopefully be Suc￿$sfUl whith cauk4 ￿SuIt in a greater interest in the breeds ¢oncemad. Webinarsvill C￿￿nUe In 2025 offering tOPiG5 of Intsrast to both new and èXTStrng mamb&rs. Linear Assessment trials will continue in 2025 with tha aim being that it becomes a fully operabonal servi offered in 2026. Following the ftjnding of 8 Nuffield Scholar in 2025, tho Committee will ccffitinue to look at in which we can eontribute to education in the goat sector. The Committee will continue to look at ways In which ¢8n *nhanc8 our rela1￿ship ￿1th both the Goat Veterinary Socièty and the Milking Goat ASSO￿￿.0n. Approved by theTrustees on 18 January 2025 and S￿Jned on thdr bèhalf by.. N Parr Tnjstee Page 7 British Goat Soclety TTUStees' Re8ponsibllltles In relatlon to the Flnanclal Statements The tDJstees are responsible for pr8paring the Trustees, Report and the financial stalernents in ae£¢rdancA wlth applicable law and United Kingdom Al￿)untIng St8nd8rds. Tro law applicable to tharities in England and WA￿$ requires the tsustees to p￿pare financial Staternents for aa¢h financial year which give a twe and fair *iew of thg state of affairs of the tharity aThJ of the ir￿ming resourr£s and applic8tlon of resourcEs of the charity lor that P8riod. In preparing these finanaal statements, the trustees are required trj.. select suitable accounting policie5 and ih8n apply them ¢onsistenUy', observe the meth¢)ds 8nd principle5 in the chawih.es SORP., make judgements 8nd esb'mates th8t 8re rtsasonable and pruden( state whether applicatle a¢counting stsndards have LEen followed, subject lo any material departures di5d(Ised and èxplainod in the financial st*rnents', and prèpara tha financial statements on the going wncom basis unlass li is inappropriate to presume that the charity will continue in business. The trustees are r93ponsiblÈ for keeping proper accujnting records that disd08e with ra8sonable accuracy at any time the financial position of th8 charity and enablè thèm to ansure that the financial ststements comply with the Charities Act 2011 as amended by the Charitl8s Act 2022, th8 Charity (Accounts and Reports) Regulations and the provisions of thè tmsl d88d. Th•y are responsible for Saf￿Uardlng the assets of the charty end hence for ta￿.ng reasonable stgps for pravention and detection of fraud and other irreautariligs. Page 8 Independent Examlnorfs Report to the Trusto9$ of Brllish Goat Society I report on the s(￿unt8 ol the eharity tsthe y#8r ended 31 Wober2024, which ar8 s8t aut on pages 10 to 21. Your attention is to drawn to ihe fact that the Charity has prepar&a the finanryal statefflentg in accordance W￿th Accounting and Reporting by Charities preparing their ac£ounts in accordanc£ with thé Financial Reporting stÈnd8rd applicable in the UK and Republic of Ireland IFRS 102) in Weferen￿ to the Accounting and Reporting by Charibes. Statement of Recornrnended Practu issued on 1 April 2005 which is refe￿e& to in the extant regulth.ons but has sinea been withdrawn. We understand that this has begn done in order for the accounts to prowde a true and fair view in accordan with th8 General￿ A￿pted Ar£ounting Praebce effethve for reporting periods baginning on or after 1 January 2019. Respectlve responsibiliti￿ of trustees and examiDgr Th8 Charitys trustees ar8 r8sponsible for the preparation of the 8ccounts. The trustee5 consider that an audit is not requlred for this year uThler secbon 144121 ol the Charibes Act 2011 as amended by the Charities Act 2022 (the Act) and that 8n independent 8X8min8tion 18 n8wJed. It is my responsibilityto.. examine the accounts uThJar saction 145 ofthe Att. follow the procedures laid do￿1 in thè General Directions given by the Charity Commission uThJer section 145151 Ibl ofthe A¢ and state whether particularmattèrs have come to my attention. 8uis of Independent oxamlnorf• rgport My examination was carrted out in a￿ordance with th8 Genèral Directions given by thè Charity Commission. An examination includes 8 ievittw of the a￿OUntIng records k8Pt by the charity and a ¢(Kxp8rison of the accounts presenled wth those records. It also indudÈs consid&ration of any unusual items or disclosures in the acctsunts, and seeking explanations from you as trustees con￿MIng any such matt8rs. The procedures undertaken do not prowde all the evidence that would be required in an audit and consequently no opinion is given as to whelhar the accounts present a 'true and fair and th& report is Iimitad to those malters set out in the statement Indepondant examlnofs statsm•nt In connection unfh my examination, no matter has come to my attention.. 111 which gives me reasonable ¢ausgto b81ieve that in any material TesP8Ctthe requirernents. to keep accounting records in acwrdanc8 Wth section 130 of the Charit￿$ Aol 2011 as 8mendÈd by the Charities Act 2022,. and to prepa￿ 8ccounts ￿1c￿ accord with the aceounting records, cornply wilh the accounting requirements olthe Ac have not bean met., or 121 lo whl¢h. in my opinion, attention should be drawn in order to enable a proper under8tanding of the accounts to be ￿aChed. FIFfEEN Rosehill Montgomery Way Rosehill Estste CARUSLE CA1 2RW nne Thornlinson FCA Dodd & Co Limited Chartered Accountants 18 January 2025 Page 9 British Goat Society ststement of Financial Activities for the Year Ended 31 October 2024 Unrtstrtetod Restricted Total Funds Total Funds Funds Funds 2024 2023 Income and endowm•nts from: Donations and legaaès Investments Ch*rita￿9 activibes Total incLsme 41 10.000 10.041 4.909 80.881 75.831 19,095 4,514 66,817 90,426 60,881 65,831 10.000 Expenditure on: Costs of gen&rating funds Ralsing fund5 Charitable activities Total expenditure 4,917 89,196 94,113 4,917 89,196 94.113 4.791 95,358 100.149 Net outgolng r8sourc8s before other recognised gains and Ios888 128,2821 10,000 11e.2821 19.7231 0thgT roc09n1￿d galn611osses Gainslllossesl on investment asset5 71.541 12,840 84,381 {11.7991 Net movements in fvnds 43,259 22,840 66,099 121.5221 Reeoneiliation of fund8 Total fund5 txought fopward Total funds carried forward 5e6,536 609,795 56,387 79,￿7 622,923 689,022 644,445 622.923 The notes on pages 12 to 21 form an intsgr81 part of these financial 8laternents. Page 10 Britlsh Goat So¢iety Balance Sheet as at 31 October 2024 2024 2023 Not• Fixed a#sÈts Tangibb a5S8ts Invèstmants 11 12 3,258 880,083 683,341 2,890 595,710 598,600 Curront assèts Stocks and WOTk in pro9ress DebttsTS Cash at bank and in hand 3.120 334 6,901 10,355 3.490 373 23,482 27.345 13 Cr8dStor¥s.' Amounts falllng du• withln one year 14 14.674) 3.0221 Net current assets 5,681 24,323 Net assèts 689,022 622.923 The fund8 of th• ¢h8rlty'. Re¥tri¢ted fund# 79,227 56,387 Unrnstrfcted funds un￿S￿'¢frd in¢orne funds 609.795 566,536 Total charfty fund The finanaal statements have been prepared in ac￿rdanC6 with the Finanual Reporbng Stsndard applicable in the UK and Repu￿1¢ of Ireland IFRS 1021. 689,022 622,923 Approved by the Board on 18 January 2025 and signed on its bèh8ifby'. N Parr Trustee Trnstee The notes C*n pages 12 to 21 fom an integral part ofthes6 finanoal ststemonts. P8ge11 Brltlsh Goat Soclety Notes to the Flnand81 Statements for the Year Endad 31 October 2024 Accounting polici98 Statsment of compliance The accounts lfinancyal statements) h8ve been prepar￿ under the historical cost convention with items rewgnised at cost or transaction value unless otherwise stated in the relevant notelsl to these accounts. The financial statémènts have been prepared in accordance %wth the seC￿nd edition of the Chants"es Statement of Recomrnended issued in Octob8r 2019. the Finanaal Reporbno Stsndard 8ppIiG4bl8 In the United ￿'ngdorn and ReputrAic of Ireland IFRS 1021 and the Charities Act 2011 as arnended by Charities AL* 2022. The accouTht$ (financial gtaternentsl h8ve be8n prepared to give a 'true and fairf VEW and have dop8rted from the Charities (Accounts and Reports) Regul8b"ons 2008 only to the extent required to provide 8 'tru8 8nd fair vie￿. This departu￿ has involved follo￿qng Ac¢ounting and Reporting by Charities preparing th8ir aC￿unts in accordan￿ with the Finanaal Reporting Standard applicable in lh8 UK and Republic of Ireland IFRS 1021 rather than the Accounting and Reporting by Chorities'.Statsment of Recommended Pr8the affective from 1 April 2(KJ5 which has sinca bean withdrawn. Ba818 of preparation The tharrity meets the definition of a public benefit enbty undor FRS 1Q2. Assets and liabilities are initially recognised at historical cost or transactKJn value un￿sS othewse stated in the ￿￿vant Accounting policy notes. Golng ¢on¢om Thaso finandal statements have been prepared on a going concern ba515. Fund accounting policy Unrestricted incame lunds are general funds that are available for use at the trustees, discretion in furtherance (bf th$ objactlves olthe charity. Restricted fund$ are those donatsd for usa in a parbojlar area or for specafic purposes, thè usa of which is ¥estricted to that area or purp03e. Further details of each fund are disdos8d in note 17. Incomg and ¢ndo%wngnts Donations and legacies are recognised lthere there is entitlement, probability of [￿lpt and the amount can be measured wth suffieient rell8bilty. Income from Govemment 8nd other grants, vthether'capital. grants or'rev8nu8' grants. is recognised when the charity has entiUement to the fvnds, 8ny performance conditions attached to the grants have beèn mèt, it is probable that the income will be rec£iv8d and th8 arnount can be measured reliably and not defgrrgd. Investment Income is recognised on a receivatle basis, Income trom charitable activities incjudes incorne re￿gnIsed 85 èamed {8s the related goods (Y serwrxs are provided) under contracL Page12 British Goat So¢ioty Notss to the Flnancial Statements for the Year Ended 31 October 2024 .. continued ExpendltUTe Liabilities are rscognised a5 soon as ther8 15 8 ￿gaI or constrjctive obligation commitbng the charity to thÉ expendtiure. All expenditure is accounted for on on accruals basis and has be8n cJassifi8d under headings that aggregate all costs related to the category. Costs of raising fvnds are inv85tment management fees. Charitable expenditure wmprises those costs incurred by the charity In the delivery of it5 a¢tivrt(es and services for its benefi¢iarie$. It includ8s both costs that can be 8llcKated directly to such actiwties and those "Costs of an Indo￿¢t nature n￿sSaryt0 supportthem. Grants payable 8re p4ments made to third parties in tha ftJrth9ran￿ of the charftable objectives. Where the charity gives a grant with conditions for its paym8nt being a specific level of Se￿￿ or outyut to be provided, such grants aro only recognised in the SOFA t￿¢8 the ￿￿plent of the grant h8s prowided the sperific Sem￿ orouw. Grants payatle without perfomiaDc8 conditlons are only rewgnised in the accounts when a comrnitment has been rnadg and there are no conditions to be mgt ￿latI￿ to the grantwhth rèmain in the control of the charty. PrOm￿onS for grants are rnadè when the intention to make a grant has been communicated to the reupient but thet8 is un￿rtainty abouteitherthé ts.ming of the grant or the amount of grant payable. Support C08ts Support costs indude ￿ntral functions and hav8 been allocatgj to a¢tiwty ¢ost categoiies on a basis consistent wth the use of rèsourcès, for examrAe, alloGgting propety cnsts by floor areas, or per capita, stsff costs by the time spent and othei costs by thoir usage. F5xod 48$ets IndiMdual fixéd assats costing £1(M) or rnor8 arn inth.aily recA)rded at COSt. Depreelatlon Depreciation is prowded on tangible fixed assets so as t¢ write off the cost or valua)on.185s any astina residual value. over theirexpect8d u5efvl economiclife as follows.. Computerequipment 20% r&luang ba18n¢e basis Fixlures, fitbngs and equipment 33% r&lucing balance basis Cash and Cash Equlvalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid nvestrnents that are readily convertible to a known amount of eAsh and are subject to an insignileant risk of ehange in value. Investments Fixed a5setinve8tmgnts are indud8d at market value 8t thè balance sheetdate. Realised gains and losse5 on investmants a￿ calculated as the differen￿ btheen sales proceeds and th￿[ market value at the start of the year, or their subsequent cost, and are charged or u8dited to the stat8rneTtt ofthe financial actI￿1t1e3 in the period of disposal. Unrealised gains and105se3 represent the movement in rnatkel values during the year and arÈ cr￿￿8￿ or chargad to the statement of financial activthes based on market valLÈ atthe yearend. Page 13 British Goat Society Notes to the Financial Ststements for tho Year Ended 31 October 2024 . continued Stock StocJ( is valued at the lower of CA)St aThY net re81i8able value, after due regard for Obso￿t8 gnd slow mowng stocks. Nel realisab￿ value 1$ based on selling price less anticipated costs to completion and selling costs. ltsms donated for resale or dkstributson ara not indudad in th8 financi81 st8tements until they are sold or disiributed. Pen81on8 Tre charity operates a defined contribution pensioTr scherne. Contributions are charg&J in the stat6ment of finanrj8l8c￿￿itieS as they become payab￿ in accOrdan￿￿th the rul85 of th8 scherne. Donatlons and1ogacF•s Unr•strfct8d R•strlet•d Totsl Funds Total Funds Funds Funds 2024 2023 Donations and legacies Legac4es and bg]uests Appeals and thnations 10.OCM) 10,000 41 10,041 18,S22 473 19.￿5 41 41 10.OCK) All of the donations and legacies ino)me in 2023 related lo Un￿stn"¢ted funds. Inveslmgnts Unrestrlcled RÈstrlcted Totsl Funds Totsl Funds Funds Funds 2024 2023 Income fr(m other unlisted invesknents 4,9)9 4,909 4,514 All of the inveslménl Ineom& in 2023 related lo Un￿striC￿d fvnds. Page 14 Britlsh Goat Society Notes to the Financlal Statements for the Year Ended 31 October 2024 conbnuéd Charitable acttvltie5 Unre8trtctèd R•strtct•d Total Funds Total Funds Funds Funds 2024 2023 Pmmottng and runnlng the 80CK8ty Member subse￿P￿0ns Adverbsing Show reeognthn fees Sales of putlic81￿￿5 8nd goods Reclaimed postag Milk rewrdng Registration fe88. transf8rs, prefixes etc S8men sales 27,423 1,1)48 3,151 1,125 45 529 27,240 320 80,881 27.423 1,048 3,151 1.125 45 52g 27,240 320 60,881 30,e41 430 4,157 1,613 570 28,638 66,817 All ofthe irume from th8ritsble aIthV￿es in 2023 related lo unrestricted funts. Page 15 British Goat Society Notes to the Financial Statem8nts for the Year Ended 31 October 2024 .. cont￿Ue