REGISTERED NUMBER: 22684 {England and Wales)
REGISTERED NUMBER IN SCOTLAND: 8C043459
REGISTERED CHARITY NUMBER: 211348
SUFFOLK SHEEP SOCIETY
REPORT OF THE COUNCIL OF MANAGEMENT
AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

REGISTERED NUMBER: 22684 (England and Wales)
REGISTERED NUMBER IN SCOTLAND: SC043459
REGISTERED CHARITY NUMBER: 211348
SUFFOLK SHEEP SOCIETY
CONTENT8 OF ThE FINANCIAL STATEMENTS
for th• year endod 30 Septembor 2024
Pa
Councll of Manag8mgnl'8 Rewrt
Report of th8 Independent Audltor8
Stslement of Fln8ndal Aclfvltl88
10
Balance Sheat
11
Not88 to the Flnanclal Ststamants
12

SUFFOLK SHEEP SOCIETY
COUNCIL OF MANAGEMENT'S REPORT
Ttre Council of Management (who are also directors of the charity for the purpose of the Companies Act
2006) presents its report and audited financial statements for the year ended 30 September 2024. The
Council of Management have adopted the provisions of the Statement of Recommended Practice Charities
SORP 2019 IFRS1021.
Rgfor¢nce and Administrative Informatlon (see additlonal Informatlonl
Charity Name".
Suffolk Sheep Society
Charity registration nurnber..
211348
OSCR registration number..
SC043459
Company registration number..
22684
Registered office
One Eas￿oOd
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB
and operational address..
Unil 19 Ballymena Business Centre
62 Fenaghy Road
Galgorm, Ballymena,
Co Anlrim, N Ir81and
BT42 1FL
President:
Pr•8ldentEl•et:
P Machray
G Morgan
COUNCIL OF MANAGEMENT
Are8 reprgsenled
NorthuTnberland, Cumbria. Durham and Isle of Man
Chalrptr•on: J Soulsby
Vlce -
hairp•rnon: A Evans
Wales excluding Monmouthshire
Mombors:
l R Barbour
D Lindon
D Miskelly
G Morgan
L Needham
M Pinny
M Priestley
A Reed
J Stewart
M Weaver
South of Scotland
South East
Northem Scotland
Wales excluding MonnTrJulhshire18ppointed 14 March 20241
Yorkshire and Lincolnshire
Middle and Eastern Counties
Northern Ireland
South West
Northern Ireland
West Midlands and Monmoulhshire
Chief Executive
B L Turner
Personal Assistants
A Mccullough, M Fenton, and G Farmer
Audltor8:
D8fferns LLP, One Eas￿00d, Harry Weston Road, Binley Business Park, Coventry.
CV3 2UB
Bankers:
Lloyd$ Bank plc, 48 Belle Vue Terra￿, Malvem, Wofcs, WR14 4QG
Bank of Ireland, Lower Baggot street, Dublin 2
Sollcltors:
Lodders Solicitor5 LLP, Elm Court, Arden Street, Strattord upon Avon, CV37 6PA
Invostment advisorn: Charles Stanley & Co., 2 Mullrees Walk, St Andrew Square, Edinburgh, EH13DQ
Page 1

SUFFOLK SHEEP SOCIETY
COUNCIL OF MANAGEMENT'S REPORT l¢ontlnuèdl
Structure, Goveman¢e and Man8￿Mont
vemin
The Suffolk Sheep Society is a charitable company limited by guarantee. incofporaled on 26th May 1886
and registered as a charity on 23rd October 1962. The company was established under a Memorandum of
Association whlch established the objects and powers of the charitable company and is govemed under its
Articles of Association. In the event of the company being wound up members are required to Contribute an
amount not exceeding £1.
rui
men
ndA
ointmen
ana
em
The direGtors of the company are a150 charity Iru51ees for the purposes of eharlty law and under the
company's Articles are known as members of Councll. Under th8 r8quiremenls of the Memorandum and
Articles of Association the membors of Council are elected to serve for a period of two years after which they
must be re*lecled. Nominations are invited from members who must be proposed and seconded. If more
than one nominalFon is received by the due date an eleclion takes place.
All new Iruslees must be members of the Society and wlll be familiar with th8 SoGiely's acllvltles. They wlll
have received annual copies of the Repori and Accounts and all other Soclety publlGations. On be¢omlng
trustees they are provided wlh the Society's Memorandum and Artides of Associatlon, Chadty Commission
guide for trustees and detalled papers relallng lo major proje¢ts wlh which the Society Is concemed.
Inlemal control risks are mlnimlsed by the implementstion of written procedures and lines of communl¢ation
for authori$8llon of transactions. Specialist advice hag b$en obtained lo ensure ¢ompliance with health and
safety requir8menls. Staff training h8$ also been provided for specific matters. Evary item of work w511 be
8896ssed and improvements In protocol made whère necessary.
anl
The Society is managed by a 16 member elected Councll plu$ ¢OThOPted members. whlch met 8 tlme8 during
the yoar across in-person and virtual meèllngs. Tho Chief Executive (Company Secretary) and Personal
A8sist8nl attend Councll meetlngs bul have no votlng rights.
The Branches of the Society based In England, Wales and S¢oUand have reglslered as Charllles In Ihelr
own rlghl.
The trustees ¢onslder they have eomplled with their duty lo have due regard lo tho guidance on publlc
benofil, as publlshed by the Charity Commission, in exercising their powers and duties.
Page 2

SUFFOLK SHEEP SOCIETY
COUNCIL OF MANAGEMENT'S REPORT (contlnuod
Objects and Actlvltles
The Society8 objects and princlpal activbties ar&-
{1)
To advance and promote agriculture by Improving the breed of Suffolk Sheep.
(2)
To promote rosearch and improvement of the breed of Suffolk Sheep and Ihe publlcation of the
results thereof.
The Socl&ty wlll ¢ontlnue lo carry out the following activrfi8s'.
Malnlain and publbsh the annual Flock Book and Year Book.,
Compile and publish annual statements, $tati$U¢s and Info￿n￿lI0n r8latlng to the Suffolk Sheep
breed.
Partlclpate andlor organls8 shows, sales and other 8vents throughout the UK. The main shows
Indude Ihe Royal Ulster Show, Royal Highland Show, Royal Welsh Show, Great Yorkshire Show,
The Three Counties Show and many oth8r Smaller ffjgional shows.
Suffolk Sheep Soclety
members had great success at ea¢h of these shows and won a number of intèrbreed classes, all of
which rai$e8 public awareness of the breed and Its popularlty to commercial farmers.
The Soclely elther dlrectly or through Ils 8ran¢h88 will continue to arr8ng8 several 8how8 and 88les
whlch are open to all members and visitors are always welcome. Tha first of these 58 In L8nark,
followed by Ballymena, Ihe Natlonal show and sale al Shrewsbury and finally Carlis18
Promoting publlc Interest In lh8 Suffolk Sheep breed vla publlcallons and publlclly. The Suffolk
SoGlely h89 a breed stand at every malor Nallonal Sheep Association event whl¢h conlalns a varlety
of mal8ri818boul the Society, the Suffolk Sheep breed, forthcomlng events el¢.
The So¢iety premlses have been offered for use by other charitablo organi8alion8 operallng In the
Ballymena area. Thes8 malnty Include other agrkultural cha￿tIeS that hold fund raising evening$.
Flnanclal R•vl•w
Subscrlptions, reglstraUon and blrth notlffcatlon fees comprised the maln sour¢o$ of Income.
On advice recelved from our Investment m8nagemenl company Councll approved a change to our
Investments in the financial year 2023124 and an adjustment in rlsk category. The Teserves were split into
vo categories, we hold one accounl thal is low risk In which the Investment can be accessed al short nollce
should we need to. although thor8 Is no foreseeable ri￿uMstance that we would ba required to do $0. The
hlgher proportlon ol our reserves we committed for a longer term and moved thls into Mgdlum l Hlgh risk
level to maximis& the return on the reserv85 that we hold.
11 is the Societys policy lo maintain sufflcl8nl reseNes to provlde for at least twelve months unrestrlcted
expenditur8. The Trustees wsh to main18in 8 lev81 of Investments to produce an income stream to help
sustain ils operations in the mediurn lemi. Investments at 30 September 2024 lolalled £T09.223. The
Society has no restricted funds. The value of reserves, that are free reserves are £834.814 12023..
£742,825)-
Page 3

SUFFOLK SHEEP SOCIErY
COUNCIL OF MANAGEMENT'S REPORT (contlnu•d)
Rosponslbllltles of tho Councll of Managem•nt
Company law requires the Council of Management to prepare financial slatemen18 for each fi'nancial year
which give a true and fair view of the State of affairs of the company as at the balance sheet date and of ils
incoming resources and application of resources including income and expenditure for the financial year. In
preparing th058 financial statements. the CouncAI of Management should follow best practice and..
select sullable accountlng policies and then apply them GonslstenUy-
observe the method$ and principles In the Charity SORP
make ludgements and estimale$ that are Teasonable and prudent..
pr6pare the financial statements on the golng concèrn ba81s unless It Is Inappropdate to presume
that th8 company will conllnue on that bas18
Tha Councll of Management are re8pon8lble for malntaining proper accountlng rocord8 whl¢h dSsclo8e wlth
reasonable 8rxuracy al any tlrn8 the finanGSal posllion of the charitable company and to enable them to
ensure that the financial statements comply with Ihg Companies Acl 2006, The Charilles and Trustee
Investment {Scodand) Act 2005 and the Charlll86 Accounts IScoll8nd) Regulations 2006 las amended). The
Coundl of Management is also responslble for $8feguarding the assets of the charitable company and
hence for taking reasonable steps for the preventlon arKI delectlon of fraud, and other irrogularille5.
Members of the Council of Management. who are directors for the purp08e of company law and Iruslees for
tho purpose of Charfty law, who served during the year and up lo the date of th'is report, are sel out on Pag8
In accordance with company law and as the ￿MpanY'S dlreclors we cerufy that..
80 far as we are aw8re th8re Is no relevant audll infomallon of whlch the company's audllors are
unaware and.,
as the directors of Ihe company w& have taken all the steps that we ought to have taken In order to
make ourselves aware of any relevant audlt infomauon and to eslab118h thal th8 charity's auditor8
are aware of that information.
The Trusteès (who are also dlr8Ctors of Suffolk Sheep Sodety for the purposes of company law) are
responslbl& for preparlng the Trustees. Annual Report and the financial statements In a¢¢ordanc8
with appllcable law and Vnlted Kingdom A¢counling Standards {Unlled Klngdom Generally
Accepted Accountlng Practi¢el.
Page 4

SUFFOLK SHEEP SOCIETY
COUNCIL OF MANAGEMENT'S REPORT Icontlnuedl
ststement as to dlsclosuro of Inforniallon to auditors
So far a8 the trustees are aware. there is no relevant Inforniation of whlGh the charitable company's auditors
are unaware, and the trustees have taken 811 the steps that they ought to have taken to make themselves
aware of any relevant audit infomation and lo estsblish that the auditor is aware of that Infom)ation.
Audltors
Thls ￿port has been prepared In s￿ordanCe wlth th• spedal provisions of Part 15 of the Companles Act
2006 relating to small companleg.
Approved by the Councll of Management on 10 December 2024 and slgned on Its behalf by
J Soulsby
Chairperson
Page 5

SUFFOLK SHEEP SOCIETY
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES AND MEMBERS OF SUFFOLK SHEEP
SOCIETY
Opinlon
We have audlted the financial ststemenls of Suffolk Sheep Society (the 'charitable company,) for the year
ended 30 September 2024 whlch comprise the Statement of Finandal Activitl8S. the Balance Sheet and
notes lo the financial slatem8nls, Including significant accounting policles. The financial reporting framework
that has been applied in their preparation Is applicable law and Unlted Kingdom A¢¢ounting Standards,
including Financial Reporting Stsndard 102 °The Finanu81 Reporting Standard 8ppli¢able in the UK and
Rgpublic of Irelanrf (United Klngdom Generally Accepted Accounllng Practic81.
In our opinion the financial statements:
glve a true and falr view of the ¥late of the tharltable Company's affairs as at 30 September 2024
and of Sts In¢oming re80ur¢e$ and application of resources, including its income and expendbture, for
the ye8r then ended..
have b88n properly prepared in accordance with Unlied Klngdom Generally Accepted A¢countlng
Pradice,. and
have been prepared in accordance wlth the requlremenls of the Companles Act 2006, the Charilios
and Trustee Investment {Scotiand) Act 2005 and regulatlon 8 of the Chan'tles Accounts Iscolandj
Regulation$ 2006.
Bo$1s for oplnlon
W6 conducted our audll In accordance with Intematlonal Standard8 on Audlllng IUKI (ISAS IUKII and
appll¢able law. Our r85ponsibilitie$ under those standards are further d8scrlbed In the Audllor's
rosponsibilities for the audit of the financial slalements section of our report. We are Independent of the
¢hadlable company In accordance wilh the ethical requlremenls that are relevant lo our audit of the flnanclal
glalemenls In tha UK, Including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responslbili1Se8 in accordance with these requirements. We believe that th6 audlt evldence we have
oblalned Is sufflclenl and appropriate lo provide a basis for our opinion.
Concluglon• r•latlng to golng ¢onc•rn
In audlllng the financial slalemenls, we have ￿nCluded that the trustees, use of the going concem ba81$ of
accountlng In the preparallon of the financial stslements is appropri81e.
Based on the work we have p8rfomied, we have not Identified any material uncertalnties relating lo events
or condltions that, Indlvldually or collectlvely, may cast significant doubt on the charltable companls ability
to continue as a going concern for a perlod of at least ￿e1ve months from when the financial slalemenls are
authorised for issue.
Our responsibiliti85 and Ihe responslblllties of the ITUStees with respect lo going concern are described In the
relevant sections of this reporL
Olh•r Inforniatlon
The other informatson comprises tho Informatlon Included In the Coundl of Management'¥ report, other than
the financial statements and our auditor's report thereon. The trustees are responsible for the other
information contained within th8 Council ol Management's Teport. Our opinion on the financial statements
does not cover the other infomiauon and, except to the exleftt olherwlse explicitly Stated In our repor( we do
r￿1 express any form of assuran￿ Gondusion Ihereon.
Our responsibility is lo read the other infomiallon and. in doing so. consider whether the olh8r informatson 15
materially inconsistent with the financial statements or our knowledge obtslned in the cours& of the audit or
otherwise appears to be materially mlsstaled. If we Id8ntlfy suGh material Inconsistencies or apparent
materi81 misstatements, we are required to determine whether this gives rise to a material misslalemenl in
the finandal statements themselves. If. based on the work we have performed, we Gondude that there is a
malerl81 mlsslatemenl of this other infonnation. we are required to report that fact.
We have nothlng to report in thi$ regard.
Page 6

SUFFOLK SHEEP SOCIETY
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES AND MEMBERS OF SUFFOLK SHEEP
SOCIETY
Opinlons on oth•r mattèrs prescrlbed by tho Companles Act 2006
In our opinion, based on the work undertaken In the course of the audit-
the infomation given in the trustees, report for the financial year for whlch the flnan¢ial statements
are prepared is consistent with the financial slatemenls., and
the dlrectors, report has been prepared in accordance wlth appllcable legal requlr8m¢nl$.
Mattors on whlch w• ar• rèqulr•d to report by oxceptlon
In the light of the knowledge and understanding of the charitable company and ils envlronmenl obtalned In
the course of the audit, we have not identffied malerlal m15slatements In the dlreclors, report.
W6 have nothing lo report in respect of th8 followlng matters In relallon to whlch the Companies Act
2006 and the Charities Accounts IScodand} Regulotions 2006 requlres us to report lo you If. In OUT opinion..
adequate aGGounUng records have not been kept. or returns adequate for our audit have not been
received from branches not visited by u$., or
the financial slatemenl$ are not In agr88menl ￿th th8 accounting records and r8turns', or
certaln dlsclosures of directors, remuneratlon speclfied by law ar8 not made,. or
we have not receSved all th8 infomiallon and explanations we requlre lor our audit., or
the trustees were not entitled lo prepare the financlal statements in a¢cordance wlth th8 small
companies, regime and take advantage of the small companSes' exempllong In preparlng the
dlre¢tors' report and from the requlrement lo prepare a Strategic report
R•sponslbllltles of tru•ts••
As explalned more fully in the trustees, re8ponsibllitles slalemnt set out on page 4, the truste85 (who 8
also the dlrectors of the charitsble company for the purposes of company lawl ara responslble for the
preparation of the financial ststem8nts and for being sa￿$fIed that they glve a true and falr vlew, and for
such intemal control as the trustees delemiine is necessary lo enable the preparation of flnanclal statemenls
that are free from material misstatement, whether due lo fraud or error.
In preparing the financial statements, the trustees are responslble for ass8ssing the charllable company's
ability to contlnue as 8 90ing ¢oncem, disdosing, as appllcAble, matters related lo golng concern and uslng
the going concern basis of acGountlng unless the trustees elther Intend lo IlquldBt8 the charltable company
or to cease operations, or havo no ￿aliStIC altemalive but lo do 80.
Audltor's r•spon$lbllltlo8 for the audlt of th• flnanclal stat•ments
We have been appolnled as audltor under sectlon 44{1)Ic) of the Charllles and Truste6 Investment
(Scotlandl Act 2005 and under the Companles Act 2006 and report In accordance with regulatlon8 made
under those Acts.
Our objective5 are to obtaln reasonable assurance about whelhor the flnancl81 statements as a whole are
free from material mi$sl8tement, whether due to fraud or error, and Io issue an auditor's report that includes
our opinion. Reasonable assurance 15 a high level of assurance, but Is nol a guarantee that an audit
nducted in accordance with ISAS IUKI wlll always delect a material mlsslatement when it exists.
Misstatements can arise from fraud or error and are considered mater181 if. Individually or in the aggregate,
Ihey could reasonably be expected to influence the economic d8cislons of users taken on Ihe basis of these
finan￿al statements.
Irregularities, Induding fraud, a￿ Instsnces of non-compllance with laws and regulations. We design
procedures In line wth our responsibilities, outlined above. lo detect material misstatements in respect of
irregularllles. including fraud. The specific procedures for thls engagement and the extent to which these are
capable of detacling irregularilies. including fraud i8 detslled below..
Page 7

SUFFOLK SHEEP SOCIETY
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES AND MEMBERS OF SUFFOLK SHEEP
SOCIETY
Enquiry of management and those charged with govemance around actual and potenti81
litigation and claims.,
Enquiry of entity 8laff in Gomplian¢e fun¢tlon5 to identlfy any instances of noTrcomplian¢e wlth
laws and regulalion$',
Reviewing mlnutes of meellngs of those charged wtlh govemance.,
Reviewing flnan¢lal statement dSsdosures and testlng to supporting documentation to assess
ompliance wSth applicable laws and regulations.
Performing audit work over the risk of management override of contro18, in¢ludlng testlng of
journal enlrles and other adjustments for appropriateness. evaluating the business rationale of
signlficant tran8actKJns outside the nomial course of bu$in8ss and reviewing accounting
esllm8les for bi88.
Because of the Inherent limttatlons of an audlt, thère is a risk that we will not detect all irregularllles,
Including those leading to a maledal misslatem&nt In the fin8n¢lal slalements or non-compllan¢e wllh
regulallon. Thls rfsk increas6s Ihe more that compliance with a law or regulation Is removed from the events
and Iran88¢tlons renecled in the financial slalements, as we will be lass likely to become aware of instances
of non-compllan¢e. The risk18 81s0 greater regarding irrogulariti6s occurring due to fraud rather than error,
as fraud Involves Intenllonal ￿ncealment. forgery. collusion, oml8sSon or misrepresenlalon.
As part of an audll In a¢¢ordance wlih ISAS (UKI, we 8xer¢ls8 professlonal judgment and malntaln
profe881onal sGepUclsm throughout the audbt. We al¥o'.
Idenufy and assess th8 rfsks of materlal mlsstatèment of the finan¢lal stat8menl$. whother due to
fraud or error, de8lgn and parfomi audit procedures responsive to those risk8, and obtsin audlt
evldence that 18 suffi¢lent and appropriate lo provide a basis for our oplnion. The rlsk of not
de16￿111)g a iTraleli ai mi Is51atement resulttng from fraud is h','gher +than fcr cne resulting from error, 8"
fraud may Involv8 colluslon, forgery, Inlentlonal omis8ions, misr8present8tions, or the overfde of
Intemal control.
Obtaln an understandlng ol Int8mal control relevant lo the audit in order lo design audit procedur08
that are approprlate Sn the clrcumslances, bul not for the purpose of expressing an opinlon on the
effe¢lSveness of Ihe Cha￿lable company's Intem81 control.
Evaluate the apProp￿atene$S of accountlng pollcles used and the reasonableness of accountlng
estimates and related dlsdosures made by the trustee8.
Conclude on the approprlaleness of the twslees, use of the golng concem basls of accounllng and,
based on the audit evldence obtaln8d, whether a maler181 uncertainty exlsts related lo evenls or
conditions that may Gast slgnifi¢ant doubt on the charitable company's ability lo conllnLJ8 as a golng
¢oncern. If we wnclude that a material uncertalnty exlsts, we are required to draw attention in our
auditor's report lo the related disclosures In the flnanclal statements or, if such disclosures are
inadequate, to modify our oplnion. Our concluslons are based on the audit eviden￿ obtained up to
tho dale of our audito¢s report. However. future events or condltions may cause the charitable
ompany to cease lo conllnue as a going concem.
Evaluate th8 overall presenlallon, slTuclure and ¢ontenl of the financial statements, Including the
disdosures. and whether the financial statements repres8nl the underlying Irans8Ctlons and events
in a manner that achieves fair presentabon li.e. gives a true and falr vlewl.
We communiGale wth those charged with governance regarding, among other matters, the planned scope
and liming of the audit and signiticanl audit findings. Including any signbffi¢8nt deficiencies in Internal control
that we identrfy during our audit.
Page 8

SUFFOLK SHEEP SOCIETY
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES AND t4EEMBERS OF SUFFOLK SHEEP
SOCIETY
Use of our report
This report is made solely to the charitable company's members, as a body, in accorctance with Chapter 3 of
Part 16 of the Companies Act 2006, and to the charitable cornpany's Iruslees. as a body, in accordance with
Regulation 10 of the Charities Accounts (Scollandl Regulations 2006 Our audit work has been undertaken
so that we might stale lo the charitable company's member5 those matters we are required lo slate to them
n an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or
assume responsibility lo anyone other than the charitable company and the chanlable company's members
a5 a body, for our audit work, for this report, or for the opinions we have formed.
Geoffrey Cox BA FCA IS8nior Statutory Auditor)
For and on behalf of Oafferns LLP
Chartered Ac¢ountanls
Statutory Auditor
One Eastsvood
Hary Weston
Road
Binley Business Park
Coventry CV3 2U8
Dated.. 10 December 2024
Daffems LLP 15 eligible to act as an auditor in terms of section 1212 of the Cornpanies Act 2006.
Pa9e 9

SUFFOLK SHEEP SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
{INCLiIDING INCOME AND EXPENDITURE ACCOUNT)
for tho year end8d 30 Seplfrmber 2024
Noto
2024
2023
INCOME FROM:
Voluntsry Incomé
Members subscriptions
Gtrt aid
87,461
11,000
86,276
11,240
Charltable actlvltl•8
224.524
194.968
Inv•stments
Investment income
Interest receivable
12,598
1,788
13,324
191
Total Incorn•
337.371
305.999
EXPENDITURE ON..
Voluntary income
Charitable activitie8
Head Offi'ce costs
44.189
195.372
51,844
57.555
250.434
56,311
Totsl •xpondltur8
291,405
364,300
N•1 In¢om• l {oxp•ndltur•)
45.968
158,3011
OTHER RECOGNISED GAINS AND LOSSES:
Net g8lnsl(lo$$esl on Investments
46,023
14,249
N•t mov•m•nt In funds
91,989
144,0521
RECONCILIATION OF FUNDS:
Funds brought forward 81 beglnnlng of perfod
742.825
786.877
Balan¢•$ ¢arrl•d forward at end of p•rlod
834.814
742.825
All the charity's activSlles are ¢onlinulng a￿1VIlle$- there were no acquisitions in the year.
AJI the charity's funds are unrestricted In the above flnancl81 years.
Page 10

SUFFOLK SHEEP SOCIE
Company registration numb8r. 22684
BALANCE SHEET
30 S•ptamber 2024
Note
2024
2023
FIXED ASSETS
Tangible assets
Investments
4.087
709.223
5.989
554.580
713.310
560.569
CURRENT AS8ETS
Stocks
Debtors
Cash at bank and In hand
1,362
54.180
93,362
3.031
39.012
166.427
10
148,904
208.470
CREDITORS
Amounts falling due wfthln ona year
11
27.400
26,214
NET CURRENT ASSErs
121,504
182,256
TOTAL ASSETS LESS CURRENT
LIABILITIES
834,814
742,825
NET ASSET8
834,814
742,825
FUNDS
Unreslrict8d funds
General reserves
12
834.814
742,825
TOTAL FUNDS
834.814
742,825
These flnancial 8tatem8nts have been prepared In a¢¢ordance Wbth the spe¢lal PrO￿810n8 of Part 15 of the
Companles Act 2006 relallng to small charitable ¢ompanies and with the Finandal Reportlng Stsndard 102.
pproved by the Coundl of Management on 10 December 2024 and signed on Its behalf by
J Soulgby
Ghairp8rson
Page11

SUFFOLK SHEEP SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 septern￿r 2024
1 ACCOUNTING POLICIES
Gen•ral Inforniatlon and basls of preparatlon
Suffolk Sheep Society Is an Incorporated charity registered in England & Wales. In the event of the
charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the
charity. The address of the registered office is given in the tharity infomiauon on page 1 of these
financial statements. The nature of the charity's operallons and principal activltles are lo advan¢e and
promote agriculture by improving the breed of Suffolk Sheep and to promote research and
Improvement of the breed of Suffolk Sheep and the publl¢allon of the results.
Th& charity conslilut88 8 public benefit enllty as defined by FRS 102. The )Inandal s18tements have
bean prepared in accordance with Accounllng and Reportlng by Charllles.. Statement of
R8commonded Pr8cti¢8 applicable lo ¢harllles praparlng thelr accounts in accordance wllh the
Flnanclal Reporting Standard appli¢able In the UK 8nd Republlc of Ireland IFRS 1021 issued In
October 2019, the Financial Reporting Standard appli¢able In the United Klngdom and Republlc of
Ireland {FRS 1021, the Charities Act 2011, the Companles Act 2006 and UK Generally Accepted
Practlce.
The charity has applied the exempllon lo not Indude a cash flow slalement on the grounds thal1118
applylng FRS 102 Section 1A.
Th8 financlal slalemenls aro prepared on a golng concem basis under th8 hlgtorf¢al cost convantlon,
modifled to Include certaln Items at fair valu6. The financlal statements are prosen18d In sledlng
whlch Is the funcllonal currency of the charlly and rounded to the nearest £1.
The financlal statements are for the charlty only. Its subsldlary has not been consolldated Into the
dcwurils.
The signlfl¢anl 8ccounllng pollcies applied In the preparatlon of these financlal 8t8lem8n18 are 8et out
below. These pollde8 hav8 been consislenlly applied lo all years presented unless otherw15e slated.
Fund$
Unreslrfcted funds am avallable for use at the discret￿On of the Iru8tee$ in furtherance of the geneT81
oblectlves of the chadty and whlch have not been deslgnated for other purposes.
Incoffl• rncognltlon
All Incomlng resources are Included In the Statement of Flnancial Acllvltles (SOFA) when the charity 68
legally entitled to the Income after any perfomiance conditions have been mel, the amounl can be
m8a8ured rellably an(J It Is probable that the income wlll be received.
Inv8stmenl income Is eamed through holdlng assets for Investment purposes such as shar8s and
property. 11 Includes dividends, Interest and rent. Where it is not practicable to identify inveslment
management costs Incurred wtthln a scheme with reasonable accuracy the investment income is
reported nel of these costs.11 Is induded when th8 amount can be measured reliably. Interest income
18 r&cognised using the effeGtive interest method and dividend and rent income is recognised as the
charity's right to rec&ive payrnenl is establlshed
Page 12

SUFFOLK SHEEP SOCIE
NOTES TO THE FINANCIAL STATEMENTS
for the year •nded 30 September 2024
ACCOUNTING POLICIES (Continuod)
Exp•ndlture rocognlllon
All expenditure is accounted for on an accruals basis and has been classified under headings that
agg￿gate all c051s related to the category. Expenditure 1$ recognised where there is a legal or
constructive obligation to make payments lo third parties, It 1$ probable thal the setdem8nt will be
required and the amount of the obligallon can be measured reliably. It Ss ¢ategorised under the
following headings:
Costs of raising funds in¢ludes investment management cos1$ and certain legal fees.,
Expenditure on ¢hari18ble activities includes grartls made in accordance with the tenn8 of the trust
d88d', and
Other expenditure represents those Items not falling Into th6 categorios above.
Support costs allocallon
Support costs are th08e that asslst the work of the charity but do not directiy represent charitable
acUvltSes and In¢lude office costs. governance ¢o$ts elc. They are incurred dlrectly in support of
expendltuffj on the objects of th8 charity and indude prole¢t management carried out al
Headquarters. Where support costs cannot be dire¢lly attributed to particular headlngs they have
been allocated lo cost of ralslng funds and expéndlture on charitsble activitie8 on a ba$18 consl8tent
wlth use of the resources.
Invastm•nts
Quoted Inve$lm8ntS are recognlsed initially at fair value which Is normally the transaction prfce
excluding transaction cost$. Subsequently, they are measured at falr value wllh changes recognlsed
In 'n&t galns l {losses} on investments, In th8 SOFA if the shares are publlGly traded or thelr falr value
can olheThvise be measured rellably.
D•blorn and crodltors roc•lvablo I payablo wlthln on• y••r
Debtors and creditors wlth no stated inlere$t rale and re¢elvable or p8y8ble withln one year are
recorded at transact￿ prlce. Any losses 8rf$lng from Impaimiant are r8cognl$ed In expenditure.
Golng concam
Th8 financial statements havè be&n prepared on 8 golng concorn ba$ls as the trustees believe that no
material unCertain￿eS exist. The trustees have consldered the level of fund8 hekl and the expected
level of income and expenditure for 12 months from 8ulhorising Ihese financial statements. The
budgeted income and expendlture Is sufficlent ￿th the level of reseNes for the Gharlly to be able lo
¢ontinue as a golng concern.
Page13

SUFFOLK SHEEP SOCIE
NOTES TO THE FINANCIAL STATEMENTS
for th• year endod 30 Septomber 2024
ACCOUNTING POLICIES (Contlnuèd)
Tanglblè flxed assets
Fixed assets are stsled In th8 balan¢e sheet al cost18ss depredation. All expendtture on acqulsition,
enhancement, production and installation are capitalised a8 fixed assets. They are 8tsted in the
balance sheet at cost less depreGSatlon.
Oepreciation 18 ¢alculaled to write off the cost or valuation less estimated resldual v81ue of tangible
assets over thelr estlmaled useful lives at tha following rate$-
Offlce equlpmenl
25(A* of cost per annum
R•s•arch and dov•lopm•nt
ExpendStur8 on research and development is wrltten off in the year In wh5¢h 6t18 In(yJrred.
P•nslon ¢o•ts
The $ocl8ty op8rates a mon&y purchase pa￿￿on scheme on behalf of certaln èmployees. All ¢osl$
are charged as an expense as they become payable under the rules of the stheme.
Stock$
Stock Is valued at Ihe lower of cost and net reellsable value.
Forolgn Curr•ncl•8
Monetary assets and 118bllrtle5 d8nomlnaled In forelgn ¢urrencles are tran81aled Into 8terllng al the
rates of exchange ruling at Ihe balance sheet date. Transactions denominated In foreign currencl88
are translated into sterling al the rate of exchange rullng at the dale of transaction. All revaluatlon
dlffer8nce8 and roall8ed lor&lgn exchange dMf•rence8 are taken to the profit and108s account.
INCOME FROM CHARrrA8LE ACTIVITIES
2024
2023
Flock book regislrallon
Surplus from Society sales and promotion levy
Year book income
Flock book sales
Testing
Other
134.778
38,677
10,219
3,404
22,578
14,868
126,109
29,911
5,399
2,155
29,681
1,713
224,524
194.968
INVESTMENT INCOME
2024
2023
Income from UK listed investments and
unit trusts
12.598
13,324
Page 14

SUFFOLK SHEEP SOCIE
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 S8ptember 2024
EXPENDITURE
2024
2023
Voluntsry In¢om•
Support costs
Salarles and wages ¢osts
Office admlnislrauon ¢08t8
Depreclatlon
37,221
6.033
935
47,078
9,469
1,008
44,189
57,555
DlroGt Gharttabl• actlvltl•8
Breed promotion expenses
Flock book 8xpens8s
C08t of year book
TestSng
Other
48.051
1,749
11,470
20,780
23,605
48.825
2,480
13,950
36,742
50,439
Support costs
Salarles and wages costs
Offl¢e administration costs
Depredation
75,570
12,250
1,897
80,181
16,122
1,715
195,372
250,434
Support costs are allocated based on the proporuon of Income generated.
HEAD OFFICE COSTS
2024
2023
Legal fees and prof8s$lonal feeg
Audlt
Accountancy fees
Stockbrokers fees
Head office runnlng costs
council meetings and AGM
2.514
4,851
14,178
5.467
19.953
4,881
3,471
2,800
13,503
5,287
22,009
9,241
51,844
57,776
Page 15

SUFFOLK SHEEP SOCIE
NOTES TO THE FINANCIAL STATEMENTS
for tho year endèd 30 Sop1•m￿r 2024
STAFF COSTS AND COUNCIL OF MANAGEMENT REMUNERATION
2024
2023
Staff cmts
Wages and salaries
S¢xlal security costs
Pension costs
Other staff costs
98.618
3.375
3,990
6,808
109,331
5,720
4,543
7,645
112,791
127,239
The average mnthly number of employees and full time equlvalents {FTE> w88:
2024
Numb•r
2024
FTE
2023
Numb•r
2023
FTE
Admlnl$lratlon
No employee recèlved emoluments In excess of £60,000.
No member of the Councll of Management received any remuneratlon and the total value of
r8lmbur8ed expanses were £4,881 relmbursed to 12 membeis of tha coundl.
Costs Incurrad In th• manag•m•nt and •dmlnl$trallon• of th• charlty Includ•:
Auditors, remunerallon
2.900
2,800
Page 16

SUFFOLK SHEEP SOCIE
NOTES TO THE FINANCIAL STATEMENTS
for the yoar énded 30 Sgptomber 2024
TANGIBLE FIXED ASSETS
Challengè
cups and
trophlos
Offlce
équlpment
Database
Total
Cost or valuatlon
Al 1 October 2023
Additions
32,427
930
14,037
10
46.474
930
At 30 September 2024
33,357
14,037
10
47,404
D•pr•clatlon
At 1 October 2023
Charge for year
26,448
2.832
14,037
40,085
2,832
AI 30 Sept8mber 2024
29.280
14,037
43,317
Not book valua
At 30 September 2024
4,077
10
4,087
At 30 Sept8mber 2023
5,979
10
5,989
The net book value at 30 September 2024 represents tsnglble flxed 8s$ets used wholly for
admlnlstr8tive purpos•$.
INVE8TMENTS
Llst•d
Unllstgd
Investmonl8 Investment
Total
Valuallon
Al 1 October 2023
554,080
246,688
{138,0681
46,023
500
554.580
246,688
1138,0681
46,023
Additions
Disposal proceeds
Net raallsed and unreallsed galns I Ilo$$e8)
At 30 September 2024
708.723
709,223
Th8 unllsted Investmgnl represents a 100% holding in 1886 Herftage Suffolk Lamb Llmited.
company Incorpoialed on 16 January 2023. At the year end the company had not commenced
trading.
Llsted investmen15 at market value ¢omprise-
2024
2023
Brllish Govemment securities
Ordlnary stocks and share8
292,807
416,116
131,132
422,948
708.723
554.080
Page 17

SUFFOLK SHEEP SOCIE
NOTES TO THE FINANCIAL 8TATEMENTS
for th• y••r ended 30 S•plfrmber 2024
INVESTMENTS (Contlnued)
Included In inve8tm8nts above are Ilsted Investments wlth a market value of £302,946 12023..
£286.074) which are held outside the UK.
Invesknents in Indfvidual enthles held at 30 September 2024 which are over 5% of Fjortfolio by valuè
are..
Marf(ot value
Finsbury Growth & Income Trust
44,255
STOCKS
2024
2023
Promotlonal tt8m8
1.362
3,031
10. DEBTORS
TT8de doblors
0th8r debtors
Prepayments
Amoun18 owed to group undertaklngs
14,401
22,000
1,749
16,030
18.167
11.000
2.579
7.266
54,180
39,012
11. CREDrroR8 - dua wllhln on• y•ar
Trade credltors
Accrual8
Other taxes and sodal 8ecurfty
Olhar credKor8
7,185
8,118
11,537
S60
9.506
3.901
12.256
551
27.400
26,214
Page18

SUFFOLK SHEEP SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
for the yoar onded 30 September 2024
11 FUND RECONCILIATION: UNRESTRICTED FUNDS
General
raservo8
At 1 October 2023
742,825
Nel nv)vement In fund8
91,989
AI 30 September 2024
834,814
13. MEMBERS
At 30 Sep18mber 2024 thé Sodety had 1,025 m8mber5.
14. ULTIMATE CONTROLLING PARTY
councll of managgment control the ¢harfty.
Page 19