| Page | |||
|---|---|---|---|
| Council of Management's | Report | ||
| Report ofthe Independent | Auditors | ||
| Statement of Financial | Activities | 10 | |
| Balance Sheet | |||
| Notes to the Financial | Statements | 12 |
| SORP 2019(FR | S102). | S102). | S102). | |||||
|---|---|---|---|---|---|---|---|---|
| Reference and | Administrative | Information (see additional information) |
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| Charity Name: | Suffolk Sheep Society | |||||||
| Charity registration | number: | 211348 | ||||||
| OSCR registration | number: | SC043459 | ||||||
| Company registration |
number: | 22684 | ||||||
| Registered office |
and operational address: |
|||||||
| One Eastwood | Unit 19Ballymena Business Centre |
|||||||
| Harry Weston Road | 62 Fenaghy Road | |||||||
| Binley Business Park | Galgorm, Ballymena, |
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| Coventry | Co Antrim, N Ireland |
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| CV3 2UB | BT42 1FL | |||||||
| President: | W Fleming | |||||||
| President-Elect: | VSamuel | |||||||
| COUNCIL OF MANAGEMENT | ||||||||
| Area represenfed | ||||||||
| Chairperson: | MJ | Weaver | West Midlands | and Monmouthshire | ||||
| Vice- | ||||||||
| chairperson: | Miss | JSoulsby | Northumberland, | Cumbria, Durham and |
Isle of Man | |||
| Members: | ||||||||
| R Greig | Northern Scotland Retired 10/12/2020 |
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| I R Barbour | South ofScotland | |||||||
| JStewart | Northern Ireland |
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| I Porter | Northern Ireland |
Retired 10/12/2020 | ||||||
| Miss L Needham | Lancashire, Yorkshire and Lincolnshire |
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| Mrs SEggleston | Midland and Eastern Counties Retired 10/12/2020 |
|||||||
| N STowns | Western Area Retired 10/12/2020 | |||||||
| Miss D Lindon | South East | |||||||
| A Reed | South West | |||||||
| D Miskelly | Northern Scotland Appointed 10/12/2020 |
|||||||
| A Evans | Wales excluding | Monmouthshire Appointed |
10/12/2020 | |||||
| M Pinny | Middle and Eastern Counties Appointed | 10/12/2020 | ||||||
| D O'Mahony 0 Deane |
South of Ireland South of Ireland |
Appointed 10/12/2020 Appointed 10/12/2020 |
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| M Priestley | Northern Ireland |
Appointed 10/12/2020 |
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| Chief Executive | R Mcllrath | |||||||
| Personal Assistants | A McCullough, | M Fenton and KAllen | ||||||
| Auditors: | Dafferns LLP, One Eastwood, Harry Weston Road, |
Binley | Business Park, Coventry, | |||||
| CV3 2UB | ||||||||
| Bankers: | Lloyds Bank pic, 48 Belle Vue Terrace, Malvern, | Worcs, WR14 4QG | ||||||
| Bank of Ireland, Lower Baggot Street, Dublin 2 |
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| Solicitors: | Lodders | Solicitors LLP, | Elm Court, Arden Street, | Stratford | upon Avon, CV37 6PA | |||
| Investment advisors: |
Charles | Stanley 8 Co., 9-10StAndrew Square, Edinburgh, |
EH2 2AF |
| Note | 2021 | 2020 | ||
|---|---|---|---|---|
| INCOME | ||||
| Voluntary income |
||||
| Members subscriptions | 76,218 | 72,631 | ||
| Gift aid | 11,598 | 8,847 | ||
| Other income | ||||
| Government grant income |
8,819 | 6,381 | ||
| Charitable activities |
221,876 | 188,426 | ||
| Activities to generate funds | ||||
| Investment income |
12,724 | 13,367 | ||
| Interest receivable | 15 | 350 | ||
| Gain(Loss) on foreign exchange | (914) | 126 | ||
| Total income | 330,336 | 290,128 | ||
| EXPENDITURE | ||||
| Voluntary income |
43,025 | 42,386 | ||
| Charitable activities |
225,331 | 183,389 | ||
| Head Office costs | 58,057 | 40,708 | ||
| Total expenditure | 326,413 | 266,483 | ||
| Net incoming/(outgoing) | resources | |||
| for the period | 3,923 | 23,645 | ||
| OTHER RECOGNISED GAINS AND LOSSES | ||||
| Net gains/(losses) on investments |
84,243 | (13,719) | ||
| Net income/(expenditure) | for year | 88,166 | 9,926 | |
| Reconciliation offunds |
||||
| Funds brought forward at |
beginning | ofperiod | 806,269 | 796,343 |
| Balances carried forward | at.end ofperiod | 894,435 | 806,269 |
| SUFFOLK SHEEP SOCIETY | ||||
|---|---|---|---|---|
| BALANCE SHEET | ||||
| 30September 2021 | ||||
| Note | 2021 | 2020 | ||
| FIXEDASSETS | ||||
| Tangible assets | 12,252 | 15,821 | ||
| Investments | 690,817 | 601,142 | ||
| 703,069 | 616,963 | |||
| CURRENT ASSETS | ||||
| Stocks | 9 | 1,290 | 2,412 | |
| Debtors | 10 | 54,822 | 45,825 | |
| Cash at bank and | in hand | 185,963 | 188,396 | |
| 242,075 | 236,633 | |||
| CREDITORS | ||||
| Amounts falling due within one year |
(50,709) | (47,327) | ||
| NET CURRENT ASSETS | 191,366 | 189,306 | ||
| TOTAL ASSETS | LESSCURRENT | |||
| LIABILITIES | 894,435 | 806,269 | ||
| NET ASSETS | 894,435 | 806,269 | ||
| FUNDS | ||||
| Unrestricted funds |
||||
| General reserves | 12 | 894,435 | 806,269 | |
| TOTAL FUNDS | 894,435 | 806,269 |
| EXPENDITURE | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|
| Voluntary income |
||||||
| Support costs | ||||||
| Salaries and wages | costs | 33,220 | 34,071 | |||
| Office administration | costs | 8,083 | 6,519 | |||
| Depreciation | 1,722 | 1,796 | ||||
| 43,025 | 42,386 | |||||
| Direct charitable | activities | |||||
| Breed promotion | expenses | 62,208 | 55,033 | |||
| Flock book expenses | 2,299 | 2,814 | ||||
| Cost ofyear book | 9,567 | 11,937 | ||||
| Testing | 43,913 | 16,064 | ||||
| Other | 20,424 | 19,013 | ||||
| Support costs | ||||||
| Salaries and wages | costs | 67,112 | 63,123 | |||
| Office administration | costs | 16,328 | 12,078 | |||
| Depreciation | 3,480 | 3,327 | ||||
| 225,331 | 183,389 | |||||
| Support costs are | allocated | based on the proportion | ofincome generated. | |||
| 5. | HEAD OFFICE COSTS | 2021 | 2020 | |||
| Legal fees and professional | fees | 19,943 | 1,933 | |||
| Audit | 2,600 | 2,600 | ||||
| Accountancy fees | 12,000 | 12,110 | ||||
| Stockbroker fees | 5,516 | 6,551 | ||||
| Head office running | costs | 15,621 | 13,380 | |||
| Council meetings | and.AGM | 2,377 | 4,134 | |||
| 58,057 | 40,708 |
| STAFF CO | STS AND | COUNCIL O | F MAN | AGE | MENT REM |
UNE | RATIO | N | |
|---|---|---|---|---|---|---|---|---|---|
| 2021f | 2020f | ||||||||
| Staff costs | |||||||||
| Wages and | salaries | 90,727 | 88,240 | ||||||
| Social security costs | 3,733 | 3,814 | |||||||
| Pension costs | 3,998 | 3,745 | |||||||
| Other staff costs | 1,874 | 1,395 | |||||||
| 100,332 | 97,194 | ||||||||
| The average | number ofemployees | was: | 2021 | 2020 | |||||
| Administration | |||||||||
| No employee | received | emoluments | in excess | of260,000. | |||||
| No member | ofthe Council ofManagement | received any remuneration | and the total value of | ||||||
| reimbursed | expenses | were E2,157 | reimbursed | to 16members | ofthe | council. | |||
| Costs incurred in the management |
and | administrations | of | the charity include: | |||||
| Auditors' remuneration |
—audit | 2,600 | 2,600 |
| TANGIBLE FIXEDASSETS | |||||
|---|---|---|---|---|---|
| Challenge | |||||
| Office | cups | and | |||
| equipment | Database | trophies | Total | ||
| E | |||||
| Cost orvaluation | |||||
| At 1 October 2020 | 29,125 | 14,037 | 10 | 43,172 | |
| Additions | 1,633 | 1,633 | |||
| At 30September 2021 | 30,758 | 14,037 | 10 | 44,805 | |
| Depreciation | |||||
| At 1 October 2020 | 18,929 | 8,422 | 27,351 | ||
| Charge for year | 2,395 | 2,807 | 5,202 | ||
| At 30September 2021 | 21,323 | 11,229 | 32,553 | ||
| Net book value | |||||
| At 30September 2021 | 9,435 | 2,808 | 10 | 12,252 | |
| At 30September 2020 | 10,196 | 5,615 | 10 | 15,821 |
| administrative purpo |
ses. | ||||
|---|---|---|---|---|---|
| INVESTMENTS | Listed | Unlisted | |||
| Investments | Investments | Total | |||
| F | |||||
| Valuation | |||||
| At 1 October 2020 | 601,142 | 601,142 | |||
| Additions | 86,750 | 86,750 | |||
| Disposal proceeds | (81,318) | (81,318) | |||
| Net realised and unrealised | gains | 84,243 | 84,243 | ||
| At 30September 2021 | 690,817 | 690,817 | |||
| Quoted investments | at market value comprise: | 2021 | 2020 | ||
| E | |||||
| British Government | securities | 176,749 | 178,964 | ||
| Ordinary stocks and |
shares | 514,068 | 422,178 | ||
| 690,817 | 601,142 |
| Investments in in -are: |
d | ividual entities held at 30September 20 |
21 which are over 5'/o of | portfolio by value | |
|---|---|---|---|---|---|
| Market value | |||||
| UK Govt Stk 2.25'/o 07/09/23 | 41,496 | ||||
| UK Govt Stk 2.5'/o 17/07/24 | 43,026 | ||||
| Finsbury Growth |
8 Income Trust | 45,026 | |||
| JP Morgan Mid Cao Inv Trust Ord GBP0.25 |
42,035 | ||||
| Axa Framlington | Unit Mangt Fund | 37,413 | |||
| MLG Investment | Man Global Dividend | 39,566 | |||
| Scot Mort Inv Tst | Ord GBP0.25 | 42,769 | |||
| 9. | STOCKS | 2021 | 2020 | ||
| Promotional items |
1,290 | 2,412 | |||
| 10. | DEBTORS | ||||
| Trade debtors | 31,798 | 28,684 | |||
| Other debtors | 22,324 | 16,621 | |||
| P repayments | 700 | 520 | |||
| 54,822 | 45,825 | ||||
| 11. | CREDITORS - due within one year | 2021 | 2020 | ||
| Trade creditors | 34,337 | 22,616 | |||
| Accruals | 6,771 | 4,354 | |||
| Other taxes and | social security | 8,350 | 19,225 | ||
| Other creditors | 1,251 | 1,132 | |||
| 50,709 | 47,327 |
| RESERVES | General | |
| reserves | Total | |
| E | ||
| At 1 October 2020 | 806,269 | 806,269 |
| Retained gain |
||
| for the year | 88,166 | 88,166 |
| At 30September 2021 | 894,435 | 894,435 |