2023-09-30-accounts - The Suffolk Sheep Society

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Council ofManagement's Report
Report ofthe Independent Auditors
Statement ofFinancial Activities	10
Balance Sheet
Notes to the Financial Statements	12

SORP 201	9(FR	S102).	S102).	S102).
Reference	snd	Administrative			Information (see addiTional information)
Chadity Name:						Suffolk Sheep Society
Chadity registration			number			211348
OSCR registration			number:			SC043459
Company registration				number:		22684
Registered	office					and operational address:
One Eastwood						Unit 19Ballymena Business Centre
Hany Weston Road						62 Fenaghy Road
Binley	Business Park					Galgorm, Ballymena,
Coventry						Co Antrim, N Ireland
CV3 2UB						BT42 1FL
President:						A Barkley
President-Elect:						P Machray
					COUNCIL OF MANAGEMENT
					Area represented
Chairperson:		JSoulsby			Northumberland,	Cumbria, Durham	and	Isle of Man
Vlce-
chsirperson:		A Evans			Wales excluding	Monmouthshire
Members:
I R Barbour					South ofScotland
W Fleming					Co-opted by Council (appointed 3 November 2022)
D Lindon					South East
D Miskelly					Northern Scotland
L Needham					Lancashire, Yorkshire and Lincolnshire
M Pinny					Middle and Eastern Counties
M Priestley					Northern Ireland
A Reed					South West
J Stewart					Northern Ireland
M Weaver					West Midlands	and Monmouthshire
Chief Executive					B LTurner (appointed 31 December		2022)
					R Mcllrath (resigned 31 December 2022)
Personal Assistants					A McCullough,	M Fenton, G Farmer,	and	H Hare
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
Solicitors:				Lodders	Solicitors LLP,	Elm Court, Arden Street,		Strafford	upon Avon, CV37 6PA
Invesbnent	advisors:			Charles	Stanley 8 Co.,	9-10 St Andrew Square,		Edinburgh,	EH2 2AF

		Note	2023	2022
				restated
				6
INCOME FROM:
Voluntary income Members subscriptions Gift aid			86,276 11,240	60,436 11,400
Charitable activities			194,968	207,731
Investments
Investment income			13,324	13,601
Interest receivable			191	26
Total income			305,999	293,194
EXPENDITURE ON:
Voluntary income Charitable activities			57,555 250,434	40,943 224,020
Head Office costs			56,311	57,776
Total expenditure			364,300	322,739
Net income / (expenditure)			(58,301)	(29,545)
OTHER RECOGNISED GAINS AND LOSSES:
Net gains/(losses) on investments			14,249	(78,013)
Net movement in funds			(44,052)	(107,558)
RECONCILIATION OF FUNDS:
Funds brought forward at beginning Prior year adjustment	ofperiod	15	793,551 (6,674)	894,435
Funds brought forward at beginning	ofperiod,	restated	786,877	894,435
Balances carried forward at end	ofperiod		742,825	786,877

			Company registration	number: 2268
		BALANCE SHEET
		30September 2023
		Note	2023	2022
				restated
				E
FIXEDASSETS
Tangible assets Investments			5,989 554,580	8,413 602,464
			560,569	610,877
CURRENT ASSETS
Stocks		9	3,031	2,325
Debtors		10	39,012	67,538
Cash at	bank and in hand		166,427	149,531
			208,470	219,394
CREDITORS
Amounts	falling due within one year		26,214	(43,394)
NET CURRENT ASSETS			182,256	176,000
TOTAL	ASSETS LESSCURRENT
LIABILITIES			742,825	786,877
NET ASSETS			742,825	786,877
FUNDS
Unrestricted funds
General	reserves	12	742,825	786,877
TOTAL	FUNDS		742,825	786,877

are g differences and realised foreign exchange differences are	are g differences and realised foreign exchange differences are	are g differences and realised foreign exchange differences are	taken to the profit and los	s account.
INCOME FROM CHARITABLE ACTIVITIES			2023	2022
				restated
				6
Flock book registration Surplus from Society sales and promotion Year book income		levy	126,109 29,911 5,399	123,229 32,792 7,843
Flock book sales			2,155	2,646
Testing Other			29,681 1,713	27,086 14,135
			194,968	207,731
INVESTMENT INCOME			2023 6	2022f
Income from UK listed investments	and
unit trusts			13,324	13,601

EXPENDITURE			2023	2022
			8	8
Voluntary income
Support costs Salaries and wages Office administration	costs costs		47,078 9,469	33,525 5,934
Depreciation			1,008	1,484
			57,555	40,943
Direct charitable activities
Breed promotion expenses Flock book expenses Cost ofyear book Testing Other			48,825 2,480 13,950 36,742 50,439	53,140 4,779 11,864 27,101 24,419
Support costs Salades and wages Office administration	costs costs		80,161 16,122	84,106 14,887
Depreciation			1,715	3,724
			250,434	224,020
Support costs are allocated		based on the proportion	ofincome generated.
HEAD OFFICE COSTS			2023	2022
			8	8
Legal fees and professional Audit		fees	3,471 2,800	9,421 2,600
Accountancy fees Stockbrokers fees			13,503 5,287	12,000 5,476
Head oflice running costs Council meetings and AGM			22,009 9,241	20,305 7,974
			57,776	56,311

STAFF COSTS AND COUNCIL OF MANAGE	MENT REMUNERATION
	2023	2022
	2	6
Staffcosts
Wages and salaries Social security costs Pension costs	109,331 5,720 4,543	101,744 5,030 3,703
Other staff costs	7,645	7,154
	127,239	117,631

The average monthly number	ofemployees and full time equ	ivalents (F	TE) was:
	2023	2023	2022	2022
	Number	FTE	Number	FTE
Administration	4	4	4	4

company incorporat trading.	ed on 16January 2023 At the year en	d the company had not co	mmenced
Listed investments	at market value comprise:	2023	2022
British Government	securities	131,132	168,601
Ordinary stocks and shares		422,948	433,863
		554,080	602,464

	Investments in ind are:	ividual entiti	es held at 30 September 2	023 which are over 5% o	f porffolio by val
					Market value
					8
	Foreign &Colonial	Investment	Trust 25p ord		33,996
	UK Govt Stk Index Linked 17/07/24				44,740
	UK Govt Stk 2.25%GILT07/09/23				30,574
	Finsbury Growth &Income Trust				43,973
	AXA Framlington Scottish American	UK Select Opps Investment Co.25p ord			30,503 31,280
	STOCKS			2023f	2022
	Promotional items			3,031	2,325
10.	DEBTORS
	Trade debtors			18,167	33,111
	Other debtors			11,000	33,583
	Pre payments Amounts owed to	group undertakings		2,579 7,266	844
				39,012	67,538
11.	CREDITORS - due within one year
	Trade creditors			9,506	22,285
	Accruals			3,901	7,076
	Other taxes and social security			12,256	13,627
	Other creditors			551	406
				26,214	43,394