SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND
(Company limited by guarantee and not having a share capital)
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
MONTACS
SHORTblORN soaETY OF TrIE UNITED KINGDOM OF GREAT 8RtTAIN AND IRELAND REPORT OF THE DREoRs AND TRusfEES FOR THE YEAR ENDED 31 DECEMBÉR 1023 The Tru5tee5 present their report and the financial aterneThts ol the charity for the year ended 31$1 Decernber 2023. The trustees have adopted the provisions of the Statements of Recomrnenderj Practice ISORPI"Accountin8 and Reporting by Charities- in preparing the annual report and financial ststements of the ¢harity. The financial statements have been prepared in accordance with the Chaities Act 2011 and Atcounting and Res)ortin8 by Charities.. Statements of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporring siandard apwicable in the UK and Republic of Ireland in October 2019. Reference and administration Infornafion Charlty name-. Shorthorn Society of the United Kingdom of Great 8ritaln and Ireland Charity reg15traiion number: Cornpany re8istration nurnber: 213216 9597 Olrt¢tors/Trustets P Armstrong l R G Collins D H Craig Mrs E A Da¥5 S E Dixon J R Fishef G James RGKite O Madelev N Madeley Mi55 F Mannerin8S T C Moscrop J R 05borne- Ae5igned 11106n023 A Reillv A G Rothen Mrs S H M Slade S V 8 Thomas D Wainwright A H J Whittle DWinThiThgt Jpwyatt Mrs W A Youn8 AJ Lawson- Appointed 0510712023 Pre51denl O Winnington MONTACS
SHORYHOAN SOCIETY OF THE UNITED KINGDOM OF GAEAT BRITAIN AND IRELAND REPORT OF THE DIREcfoR5 AND TrVSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Re8lstered office and Operational address= Holme House Dale Ainstable Carlisle CA4 9RH Company Secretsry Mr Andrew Ryder- appointed 01105n023 Mrs R E Rimmer- resi8ned 3010412023 Indtpendent E¥amlner W.O.R. BenoyFCA 8ankers HSBC 8ank plc. Coventry Activitles and charitable objects The prsncipal actiwty and charitable object5 of the Society are to encourage, promote and improve the breedin8 of Shorthorn cattle in the United Kin8dom of fj3t Brr¢ain and Ireland. or elsewhere. and to compile and malntaSn a Herd Book of recognised and pure-bred Shorthorn cattle. Pvbllc benelot The trustees tonsider they have complied with their duly to have due regard to the guidance on public benef as published by the Charity Commission. in exercisin8 their powers and duties. MONTACS
SHORTHORF4 So0 OF THE UP4rrED Kiiif4KIM OFGREAT BPITAIN AMO IRELAND AEPOR7 OFIXE OIREcfoRSA14D IRUSTEES FOR THE YtAR EIIDED 31 DECEM8eR2023 A¢eyernents Jnd perfLwmJnce Incrme ènd expenses were reduced in 2023 tompared to2022, thi5bsduetotwo reasty Firstlythe hosting In 2022 olthe 5hcthom conferen1th3S hdd In the UK to celebTrte l()yearsol the Coates Herd Book. Sec¢ndty. there was nodonaitii from the sybydlaarytoihe Chaiitydurin8the yew. ThE director5of the sub5idiarywlll rEivewthe dui5tonto rnake a donatiQThafteTttyear end. From the 1st May 20231he Society rn0 Ihe mana8ernent of iheswety to Pedilree VeStOck SeTrice5 tirnited. this resulted in tht salaried trfficeladministr*orand the parttime bookkeepeTfveed manager made redund1. The offictviill be dosed and operations mo¥ed. The5(Ety's$bSldi(aMPan¥shortlrn siresLtdcoftTtns to bttik4ry1 it SucsS th a profitof£31.407 Prmotion of the breeeo continued Inthènyformatsdtsrin8 2023. from Sh, advertIn81n thefarming press, live5tork market show5 & sales. ¢tinuing ththe PDSlify% outofthescIuI stmen brochvre alon8 newsletter5. phtstographic competition the Continued netxsrknnewith indvstry contxts. HnJnci•l Re¥iew Tht lossfortheyearamountedto £36.586.This rnnthas reduced reserves lYthJÉhtlornv¥d lea¥inÉ fund b8lantes ot£366.816 at the end of theyear. The Trusreesc¢4isiderthe resultsto be sats5factory. ResoThos Polkv Thesocietyaimsto hol¢J finantol resthEsthat co¥er vp tooTheyear54Mere resource5. At 31 December 2023 the Society held free reseNes tsfE353.289. MONTACS
SIORTIIORN SWEfY OF THE UNrrED KINGDOM OF GREAT BRrrAIN AND IRELAKI IIEPORTOF THE OIAEcfoRSANDIRUSTEES FOR ThE YEAR ENDED 31 DECEMBER 2023 The soclety ts a charitable Company Nmtted by8uwantee and doe5 not a share ts1. Thesotty was Inwrporated on 15June 1875 and registered as a tharity on 8 January 1963. The company was estsbllshed under a Memorandum of Awciation. whith e5tsb165htd th? objects and powers of the charitable company and 1$ 8o¥emtd byits Artide5 of Auodatlon. The dIreCto ofthe company are also tharitytrustee5forthe purpose of tharrty law undwthe companvs Artides are kn¢y4vn as member5 dthe cnl. Each yearsomè touftcil mtmbets rttire by rotstlon are el%l>leforftYlecUon. They are elected bv a ballot ofthost membe15 entled io¥ote. Trustee5 lTrdyclI( and tralnlb New Tnjstees are bftefèd by the President on thelrobli8atlons ascounul member5 and the future plans and obiectives of the Sooety. Minutesof pre¥iou5 meetings are also avallable fornew Counci1 Members upon request R15k revlew The trustees have tonducted a revlew of the major risks to whith the tharity Is èxposed and have estabfished SteMS to mrts8ate these ri5 E¥ery effort made to ensure all ii5ks are keo tti mlnimum. The Council consider that insurance cover and reserves are adequate to engjrethe continued operion ol the Society the event of the occurrence of any unexpected intident. Thls reporthas been prepared in accordancewith thespeaal provbsions of Part 15 ofthe Companies Act 2006 relatingto small companie& Approved by theTrustee5 on . and swed on its behalf br. S ThomA Olrectorl Tn MONTACS
INDEPENDE14T EXAMINER REPORT TO ThE TRUSTEES OF SHORThORN SOCIEfY OF THE UNITED KINGLIOM OF GREAT BRITAIN AND IRELAND I report to the charlty trustee5 on my examination of the accounts of the company for the year ended 31 Oecember 2023, which are set out on pages 6 to 15. ResponslbllltF•s •nd basls of report Ag the charlty's trustees of the Company land also its directors for the purposes of the company lawl you are responsible for the preparation of the ac¢ourits in accordance wlth the requirements of the Companies Art 261'the 2006 Art?. Havln8 satSsfied mysew that the accounts of the Company are not reqLFlred to be audlted under Part 16 of the 21J06 Art and are ell8ible tor Independent examlnatyon. I report In respect of my examlnatlon of your charity's accounts as carrled out under section 145 of the Charities Art 2011 (The ZOII Att'l. In carrying out my examination I have followed the Owertlons 8iven by the Charity Commisslon under section 145151 Ibl of the 2011 act. Independant •umln•r's stat•m•nt I have ¢ompleted my examlnatlon. l can conftrm IhJt no m•tters hove come to my att•ntlon In connectlon wlth the examination giving me cause to believe that in any material respect.. accountln8 records were not kept in respect of the company as requlred by sectlon sectlon 386 of the 26 Act: or the accounts do not accord wFlh those records; or the accounts do not comply with the accountln8 requlrements of sertlon 396 of the 2006 Act other than any reqvlrement that the account$ 8fve a'true and fair view, which is not a mjtter consldered as part of èn Indtpèndent examinatlon: or the accounts have not been prepared in accordance with the methods and prlnclple5 of the Statement of Recommended Practlce for accourtting and reportlng by charltles ppllcable to charltles preparin8 their accounts in accordance with the Flnancial Reportln8 Standard appllcable In the UK and Republic of Ireland IFRS 1021 I have no concerns and have ceme across no other matters In connectlon wlth the examlnation to which •ttpftti•n should be drown in thlJ report In order r? enable a proper L*nderstanttin8 of tllè accounts to be W O R Benoy 8Sc FCA Morrtacs International House Kingsfield CoLtrt Chèster Buslness Park Chester CH4 9RF Dated 16 5eptembef 2024 MONTACS
SHORThORN SOCIEfi OF THE U•JITED KINGI)OM OF GREAT BRITAIN AND IREiANO STATEMENT OF FINA140AiAcfMTrES IINCORPOKATING INCOME AND EXPENDtTURE ACCOUNn FOR THE YEAR ENOED 31 DECEMBER 2023 2022 funds Total luhds ilnrestrirted Rethcted fvnds fund5 Totsl fvnd5 Incomo and ondowmontsfrom: Oonations and legades 3959 92 9.034 85.585 3.959 72.592 9,034 85.$85 70,516 76,524 8,733 155,773 70,516 140.481 8,733 Z19.730 63.957 Investments Total 63.957 EMpendituYe on: RalsiDS lunds Charitable acU¥it(es Total 91115 36.Y4 129.059 92.IlS 37.051 119.166 87,332 27,326 IL4.658 87,332 77,648 164,980 7J 50,322 50.322 Net Ilows118ains on investmeTrts 6.995 -48.151 -48.151 14eiithtomelmo¥ement In funds .36.479 -36.586 -7.036 13,635 6,599 RanlIatIon olfvnds.. Total fund5 brou8ht fon¥ard Total fund5 carrled forward J89,767 353.289 13,635 I327 403.402 366.816 396.803 389.767 196,803 403,402 12 13.635 The te$ on pa8es 8 to IS form an inte8ral part olthe5e finanrjal st*emeTh
SHORTHOftPI SOCIEf OF THE UNIIED KIIIGDOM OFGREAT BRfTAIN AND IREIAND BALA14CE SHE FQR THE YEAR ENOED 31 OÉCEl418EII 2023 Ihtshgible asstts Tan8ibleasse15 Itwestfflenrs Total Flxed assets io 2.396 23L571 233.972 138.355 240.365 C¥rrent•3Jets: Stocks DÈbiOts ChafitiesdepDyIs 65h 4tbankanO inhand Tot•1 cuNent assets 88501 9.412 61,503 159.416 IW86 9.017 9S,frt13 204.1( iiabilTrtJE5'. Credit$.. Amountsfallirti due wiilwn one vèar 14etotrrent assets or li•blli¢ies 32.965 126.451 34.675 169,430 Total assets le55tuiv•nt kbilities 3Wk6 403.403 Creditors. ArnoUts Fèllin8 attev morethan oneyear Total netassetorliabilit 36616 403.402 Thefvnds ofthqthaity. fte51ricied income fvnd5 Vftrewicted funds 14 27 353.289 .635 389.767 Tot<haiiiy Ivnds 366.816 403.402 The chaiitoble company15 entittedto exemp1 loraLtNsertW•71 0FttCtypansAtt 210T ye•rended 3t Oecember 2023. The mernbersbave nor required ¥ht corrp¥ny to obtain an audit iTraccOrdaKeth sethon476ofthÈCfjwan Art . The dlrector5and rrvsteesa¢knoWde theirre5ponstsi4itfUT(l4.gWIhthè wwrpmentsof1hecrmps Act wiihfespeti to actouniin8 0rd$and the tVep3ratn0f the accovn ?Se finoalsrernerntshè¥e been prepared in at£ortlareTMth thewo¥ishJn5appIKtblÈioSrnallcompan5, subject to the sm¥llc+Jmpanies' ryime and inac<wdance th FR5 102 AP. Thefinan¢ial statem•)ts were appto¥ed by the cou4 on and were SIg on itsbehalFbv'. SThDma% DirKicrifw2e The fK)tes on page5 8t0 15 lorm anin¢È8ral partof ttbÈse finanti?Istairnent* MONTAC5
SMORTHORN 50CIEfY OF THE U141TED KINGDOM OF GRT BRITAIP4 AND IftEiANO NOTES TO TrIE FINANaAL sfATEMÉNrs FOR TIIE YEAR ENOED 31 DECEM8ER 2023 l. General informlon and basls of preparation The Shorthorn Society of the United Kingdom of Great Britsin and Ireland is a private Company. limited by guarantee. re8lStered in England and Wales. The address of the re8lStered office isgiven in the charity inforrnatbDn on page 2 of these financial st3temeThts. The nature of the ch3rptV'5 operations and principal actiwties are to encourage. prornote and improve the brEeding of Shorthorn cattle in the United Kingdom of Great Britain and1reland. or elsewhere and to MplIe and maintain a Herd book of recognised artd pure Ted Shorthorn ttle. The charitytonstitutes a public beneflt entity as deh.ned by FRS 102. The finanoal statements have l)een prepared in accordance with Accounting and Reportint by Charities.. Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance th the Financial Reportin8 Standard applicable In the UK and Republic of Ireland IFRS 1021. the (harities Act 2011. the Companie5 Atl 2006. and UK Generally Accepted Accwntin8 Pradice. The financial statements are prepared on a going concern basis under the historical cost conventson. rnodified to include certain iiems at fair value. The financial statements are presented in 5terlin8 IE) which is the furKtional currency of the charity and Tounded 10 the nearest pound. The sfgnlficant ac(J118 policies apthied in the preparalion of the5effinanoal statemEnts afE set out below. These policies have been con&5tently 41plied to all years presented vnkss otherwise stated. 2. Accountin¢ politie5 Fund a¢¢ountinK Unrestrirted funds are availat4e for use atthe discretion of the trustees in fvrtherance of the general objectives ol the charity and whl¢h have not beèth desi8nated for thher purposes. Restricted funds can only be used in accordan with the restrirtion imPCsed 4Jpan them. Income recognltion All incoming resources are included in the Ststement of FinarKial Actmtses ISOFAI when the tharity Ls legalty entitled tothe income after any performance EonditiDns have been rMt. the amount can be measured reliabfy, and it 15 probable that the income wll be received. Investment income is earned through holding assets of invE5tment purposes such as shares aTrLI property. It includes divldends. interesi and rent. Where it is not pratticable to identify investment manaeement costs incurred vrithin scherne with reasonable accuracythe in¥e51rneTht income is reported nei of these tosts. It is included when ihe amount can be rnea$ud reliably. Interest income is recognised using the effectbve interest method and dividend and rent is recognised as the Charity's right to receive payThent is established. MONTACS
SHORTHORN SOCIEtY OF THE UNITED KINGDOM OF GREAT 8RThA114 AND IREiAP40 NOTES TO THE FINANOAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 2. Accowntins policies (Conf'd) Glft ald payrnents Gift aid payrnents are recognised as distriblOn$ to ov•ners from retained earnings with there bel Tho le8al obligatlon to make payments. The accountinB policy for eift aid payments also resutts in the cornpany recogni51n8 a taxation thar8e on it's profits for the year. However. the applicaiion of the exception under paragraph 29.14A of FRS 102 provides relief in respect of the accounting for the tax char8e_ This results in an overall nil impact on the charge for tax in the Income Statement. This exception is only applicable as it is probable that the gift aid paymem will be made by the company to the parent charitywithin 9 Months ofthe reporting date. Expendlture reco1110 All expenditure is accovnted for on accrual basi5 and has been classified under headings that aggregate all costs related to the category. Expenditure is reco8nised where there is a legal or constructtve oblgation to make payrnents to third parties. it is probable that the settlernent will be required. and the amount of the obligation can be measured reliablv. Intangible fixed assets The Intangible fixed asset comprrmises the copyright of the Coates Herd B(w)k and is $ted at cost Tanglblt f5%ed assets Tangible fixed asseis are stated at cost lor deemed c05tl or Wdluation less actumulated depreciation and accumulated impairment losses. Cost includes costs direct attributable to making the ass capable of opeiatin8 as intended. Depreciation 15 provided at the following annual rates in order to write off each asset over its estimated useful Leasehold buildings Equipment Written off in 2020 i(rA- 20% straight line Investments Investments are recoBnised initially at fair value which is normally the transaction price excluding transaction Costs. Subsequently. they are measured at fair valup wr(h changes recognised in 'net 8ains/llossesl n investments, in the SOFA if ihe shares are publicly traded or thr Value can otherw15e be measured reliably. Other irnvestments are measured at cost less irnpatrment. MONTACS
SHORThORN SOQETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELANO NOTESTO ThÉ FINANaAI STATEMENTS FOR THE YEAIt ENDED 31 DECEM8ER 2023 2. Accoufiting pollcie5 Icont'dl Stocks Stock has been valued at the lower of cost and net reali5able value. Debtors and uedltors recelvablelpayable wffihin one year Debtors and creditws stated with no interest rate and receivable or payable with one year are e0rded at transaction price. Any losses arsing from Fmpairmeni are recognised in expenditure. Operatin8 lezses Rentals payable and receivable under operntyng leases are charged tg the SOFA on a straight lint basis over the period of the lease. Penslons The company operates defined tonthbution penon schemes. Contributions paYae during the year are charged in the statement of financial artivTtte5 in the period to which they relate. Forelin currency Foreign currency transacti0fi5 are initially reco8nised by applying to the foreign currency am exchange rate between the functional currency and the folIn currency ai the date of the transaclion. Monetary assets and liabilstie5 denominated in foreign turreno at the balance sheei date are translated using the closing rate. Related tomnY and con501idation The company owns Im of the issued ordinary share capital of Shorthorn Sile5 UK Limited lincorporated in the United Kingdom). The company 3nd its subsidiary compromise a small group. The company has therefore taken advantage of the exemption provided by section 398 of the Companies Act 2CX)6 not to prepare group accounts. 3. Nei Inwme 2023 2022 Net income is slated after ¢har8in8 Depreciation of tanEiblÈ Ilxed assets Operatine lease costs 892 682 628 954 4. lTrdependent Emamlntrs Rtmurrdtbon S. Twu5tee rerwvjneraflon and other benefits No trusiees. remuneration gr other benefits were paid durin8 the year. Rwmbursed travel expenses MONTACS 10
SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND NOTES TO THE F1fr4ANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 6. Income 2023 2022 Unrestrirted funds 2022 Rèstrlrted funds Vnrestrirted funds 6.1 Donation5 and leiacies 6.2 Charltable actlvltles Member subscriptions Herd book entry fees Classification fees Other lees Coates, herd book Shorchorn journal Merchandise Shows and Events Sundry Income Insurance claim5 Management Fees Sponsorship of WSH 2022 3,959 70,516 12.825 26,086 6.491 311 13.375 22,272 5.797 310 loo 7.799 S28 793 2.252 316 22,983 1.192 790 2.821 15.C( 63.957 63,957 72,592 76,524 6.3 Investment Income Interest on deposits Dividend Income 395 8.639 9,034 85,585 87 8.646 8,733 155.773 Total In(ome 63,957 MONTACS
SHORTHORN SOtIETYOFThÉ UNIT£tIKINGDOM OF GAEAT WTAIN AWDIRELIIKI NOTE5TOTKANANaALSYATEMEWTS FOR THE YEAR ENOEDJI DECEMBER 1021 7.ENperbses 20 2022 Unrestrkted Restricted 7.1 Ralsln8lunds Salaries and national insumce Breed 5ecretary'sfees and expenses Manaeememr Fees- Pis Soclal medlafees and expenses Rentand rates Insurance Telephone and postage Printingand st4tionery 6.657 17.B99 30.063 5.692 19.930 26.6aQ 3,510 2.310 6.610 705 2.123 6.402 FLI Computerand Sofiware Bank Charge5 Sundryexpenses Lease Df equiprnènt Cotjncil meetin85 expenses IndeoehdentexamiAai#)n Legal and wofesyonal fees Oeweuation 3.062 663 262 3.227 789 468 954 4.IB6 4.195 590 628 87,332 I,?so 717 92.115 7.2 Chafltabla¢ti%ytis shorthorn jo¢Jrnaj Show5 and events Clasyfications Merchandise 10.180 13.235 7.230 105 5,519 675 12.110 5.558 1.449 465 BrEed dpvelopment WSC2022 Ewenditure $0.322 50,322 50.322 36.Y4 129,059 27.326 114.658 TDtal Expendtture MONTACS
SHORTHOR14 SOCIEfY OF THÉ UNITED KINGDOM OF GREAT BRAIN AND IRELANO NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2023 8. Staff numbers and costs The average number of persons employed by the Society durine the year was: 2023 2022 Administration Staff costs were.. Salaries and subcontract Employee pension 6.462 195 6.657 19.352 578 19,930 No employee received emoluments of more than £60,OtKI. 9. Tangible fixed asséts Equipment Total Cost At I january 2023 Additions Disposals At 310ecember 2022 9.281 5CKI 9.281 500 9,781 9,781 Depretiation At l January 2023 Charge in the year Disp05als At 310ecember 2022 6.885 892 6.885 892 7,777 7,777 Net 8ook value At 31 December 2023 2,396 2.396 At 31 December 2022 2,004 2,004 10. Intangible fixèd assets Copyright at cost- Coates. Herd Bk MONTACS 13
SHORTHORN 50aETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND NOTES TO TH£ FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 OECEMBER 2023 11. Inveslments 2023 2022 sted investments held l January 2023 Purchases at cost SBle5 proceeds Revaluation Listed investments held 31 December 2022 all quoted on a recognised stock exthangel Shares in group companv 230,571 8,318 -8.567 6.995 278.856 2.278 -2,412 -48,151 237,317 1.000 238,317 230.S71 i.OCK) 231.571 12.Debtors Trade Debtors Prepayments Amounts owed by8roup company Loan - SSUK 16,898 3.503 48.101 20.000 88.501 14,358 2,485 43.243 40,000 100.086 13.Croditors Trade Creditors Sundry Creditors Accruals & Deferred Income VAT Liability Taxation and sotial 5ecunty 12.626 8,568 5,291 6.479 6,092 14,265 8.229 5,106 983 34,675 32,965 14. Fund$ Total funds of £364,063 consists of £350,535 unrestritted funds and £13,527 restricted funds. MONTACS 14
5HOATHORN SOCIETY OFTHE UNITED KINGDOM OF GREAT 8RITAIP4 APID IAELAND NOTES TO THE FINANCIALsfATEMÉNTS FOR THE YEAR ENDED 31 DECEM8ER2023 15. Related Companyar ¢oThsdidoti The Society owTr5 100% olthe issued shale takmtal of Strwythorn Stres LKnited. form* Fled Cattle Gerteiics IStonelei8hl rnited lincorpofated in the United Kity¢doml which sells Shorthorn stmen. Its t¥adifi8 resultsfor the year. as ertfacted frcffi the Lmadited accounts are as fdlows.. 2023 Turnover Cost olsale5 Gross profit Administrati¥e exFonses 128,102 -73.614 54.488 -23.081 31,407 129.Z81 -96.824 32.457 -32.531 -74 Interest recewablp Profit forthe Financial Year Gift Aid donatioty Aetained income Reserve5 1 January 2021 Reserve5 31 Decernber 2023 31.407 .73 70.516 -70,589 79.810 9.221 31.407 9.221 40.628 15
SIKIRThORN ScthTYOFu1TEo KIWG()OM OF GREAT BAffAIN l&ND IRELAM) sfATEmEF0F FINAWAL ACnVITIES IINCORPORAMNG INCOME AND EXPEPILXTUPE ACCOUUn FOR THE YEARENDED 31 (EMBER1025 fvnds 2023 85.585 2021 2022 155.773 20U 63,957 Expendifiire 129.059 114,658 50,312 43.474 41,115 13.635 Netgainslllossesl on th¥estments 995 48,151 NetlY*•mtlmwemeni Ihfv•ts .36.479 -7.036 13.635 F¥nd balarrtesat lJanuary202J 389.767 13.635 396.803 Fund lDEe5a1 31 (leiembEr 2021 353,289 13.527 389.767 13.635 MONTACS