2021-06-30-accounts - The Hereford Cattle Society

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		Page
Report ofthe Trustees	1	to	8
Report ofthe Independent Auditors	9	to	12
Statement of Financial Activities		13
Balance Sheet		14
Cash Flow Statement		15
Notes to the Cash Flow Statement		16
Notes to the Financial Statements	17	to	28
Detailed Statement of Financial Activities	29	to	30

						30.6.21	30.6.20
				Unrestricted	Restricted	Total	Total
				funds	fund	funds	funds
			Notes	E	E	E	E
INCOME AND ENDOWMENTS		FROM
Donations and legacies				734		734	94,772
Charitable activities
Furtherance of the breed				615,560		615,560	583,190
Investment income				49,849		49,849	42,448
Other income				56,764		56,764	49,375
Total				722,907		722,907	769,785
EXPENDITURE ON
Raising funds				3 232		3 232	2,901
Charitable activities
Furtherance ofthe breed				639,189		639,189	613,242
Total				642,421		642,421	616,143
Net gains on investments				105,843		105,843	23,906
NET INCOME				186,329		186,329	177,548
RECONCILIATION OF	FUNDS
Total funds brought	forward			1,476,616	2,905	1,479,521	1,301,973
TOTAL FUNDS CARRIED FORWARD				1,662,945	2,905	1,665,850	1,479,521

Balance Sheet 30June 2021
				30.6 21	30.6.20
		Unrestricted	Restricted	Total	Total
		funds	fund	funds	funds
	Notes	E	E	E	E
FIXEDASSETS
Tangible assets	14	64,877		64,877	62,693
Heritage assets	15	382,050		382,050	382,050
Investments
Investments	16	735,085		735,085	539,214
Investment property	17	350,000		350,000	350,000
		1,532,012		1,532,012	1,333,95?
CURRENT ASSETS
Stocks	18	5,958		5,958	6,174
Debtors	19	92,453		92,453	65,33?
Cash at bank and in hand		84,872	2,905	87,777	101,586
		183,283	2,905	186,188	173,097
CREDITORS
Amounts falling due within one year	20	(52,350)		(52,350)	(27,533)
NET CURRENT ASSETS		130,933	2,905	133,838	145,564
TOTAL ASSETS LESSCURRENT LIABILITIES		1,662,945	2,905	1,665,850	1,479,521
NET ASSETS		1,662,945	2,905	1,665,850	1,479,521
FUNDS	21
Unrestricted funds				1,662,945	1,476,616
Restricted funds				2,905	2,905
TOTAL FUNDS				1,665,850	1,479,521

				30.6.21	30.6.2Q
			Notes
Cash flows from operating	activities
Cash generated from operations				60,587	149,698
Net cash provided by operating activities				60,587	149,698
Cash flows from investing	activities
Purchase oftangible fixed	assets			(7,073)	(607)
Purchase of heritage assets					(89,500)
Purchase offixed asset investments				(248,350)	(235,467)
Sale offixed asset investments				158,322	236,689
Dividends received				22,705	18,463
Net cash used in investing	activities			{74,396)	(70,422)
Change in cash and cash equivalents		in
the reporting period				{13,8Q9)	79,276
Cash and cash equivalents	at the
beginning ofthe reporting	period			101,586	22,310
Cash and cash equivalents	at the end	of
the reporting period				87,777	101,586

RECONCIUATION	RECONCIUATION	OF NET INCOME TO NET CASH FLOlhf FROM OPERATING ACTMTIES	OF NET INCOME TO NET CASH FLOlhf FROM OPERATING ACTMTIES	OF NET INCOME TO NET CASH FLOlhf FROM OPERATING ACTMTIES	OF NET INCOME TO NET CASH FLOlhf FROM OPERATING ACTMTIES
					30.6.21	30.6.20
						E
Net income for the		reporting		period (as per the Statement of Financial
Activities)					186,329	177,548
Adjustments for:
Depreciation charges					4,889	4,497
Gain on investments					(105,843)	(23,906)
Dividends	received				(22,705)	(18,463)
Decrease	in stocks				216	3,618
(Increase)	/decrease	in debtors			(27,116)	12,957
Increase/(decrease)		in creditors			24,817	(6,553)
Net cash	provided	by operations			60,587	149,698
ANALYSIS	OF CHANGES		IN NET FUNDS
				At 1.7.20	Cash flow	At 30.6.21
				E	E	E
Net cash
Cash at bank and in		hand		101,586	(13,809)	87,777
				101,586	(13,809)	87,777
Total				101,586	(13,809)	87,777

DONATIONS
	30.6.21	30.6.20
		E
Donations		92,405
Grants	734	2,367
	734	94,772

			30.6.21	30.6.20
	Furlough	Grant	734
	Other grants			2,367
			734	2,367
3.	INVESTMENT INCOME
			30.6.21	30.6.20
			E	E
	Rents received		27,144	23,985
	Dividends		22,705	18,463
			49,849	42,448

	INCOME FRO	M C	WARITAB	LE ACTIV	ITIES
								30.6.21	30.6.20
				Activity				E	E
	Membership	income		Furtherance		ofthe breed		88,763	85,921
	Gift aid			Furtherance		ofthe breed		14,768	13,991
	Registration	fees		Furtherance		ofthe breed		239,288	242,783
	Transfer fees			Furtherance		ofthe breed		45,048	43,720
	Beefscheme	levies		Furtherance		ofthe breed		51,146	66,675
	Export fees			Furtherance		ofthe breed		650	1,613
	Sales and commissions			Furtherance		ofthe breed		63,317	68,200
	DNA testing			Furtherance		ofthe breed		109,805	57,792
	Herd prefix			Furtherance		ofthe breed		2,775	2,495
								6151560	583,190
5.	RAISING FUNDS
	Investment	management		costs
								30.6.21	30.6.20
								E	E
	Portfoho management							3 232	2,901
6.	CHARITABLE	ACTIVITIES		COSTS
							Grant
							funding of
							activities	Support
						Direct	(see note	costs (see
						Costs	7)	note 8)	Totals
						E	E	E	E
	Furtherance	ofthe breed				569,928	641	68,620	639,189
7.	GRANTS PAYABLE
								30.6.21	30.6.20
									E
	Furtherance	ofthe breed						641	1,809
	The total grants		paid to institutions		during	the year was as follows:
								30.6.21	30.6.20
	Area Association		Grant
								641

				Governance
			Finance	costs	Totals
			E	E	E
Furtherance	of the breed		3,184	65,436	68,620
NET INCOME/(EXPENDITURE)
Net income/(expenditure)		is stated after charging/(crediting):
				30.6.21	30.6.20
				E	E
Auditors' remuneration				3,760	3,650
Depreciation	- owned assets			4,889	4,498

					30.6.21	30.6.20
					E	E
Wages and salaries					182,742	158,278
Social security		costs			12,113	12,021
Other pension		costs			8,397	6,977
					203,252	177,276
The average	monthly		number ofemployees	during the year was as follows:
					30.6.21	30.6.20
Administration					4	5

12.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
			Unrestricted	Restricted	Total
			funds	fund	funds
			E	E	E
	INCOME AND ENDOWMENTS	FROM
	Donations and legacies		91,867	2,905	94,772
	Charitable activities
	Furtherance ofthe breed		583,190		583,190
	Investment income		42,448		42,448
	Other income		49,375		49,375
	Total		7661880	2,905	769,785
	EXPENDITURE ON
	Raising funds		2,901		2,901
	Charitable activities
	Furtherance ofthe breed		613,242		613,242
	Total		616,143		616,143
	Net gains on investments		23,906		23,906
	NET INCOME		174,643	2,905	177,548
	RECONCILIATION OF FUNDS
	Total funds brought forward		1,301,973		1,301,973
	TOTAL FUNDS CARRIED FORWARD		1,476,616	2,905	1,479,521
13.	INTANGIBLE FIXED ASSETS
			Certified	Breedplan
			trade	setting
			mark	up costs	Totals
			E	E	E
	COST
	At 1 July 2020 and 30June 2021		3,966	25,480	29,446
	AMORTISATION
	At 1 July 2020 and 30June 2021		3,966	25,480	29,446
	NET BOOK VALUE
	At 30June 2021
	At 30June 2020

14.	TANGIBLE FIXEDASSETS
		Freehold	Motor	Office
		property	vehicles	equipment	Totals
		E	E	E	E
	COST
	At 1 July 202Q	46,645	20,798	147,941	215,384
	Additions			7,073	7,073
	At 30June 2021	46,645	20,798	155,014	222,457
	DEPRECIATION
	At 1 July 2020		14,218	138,473	152,691
	Charge for year		1,645	3,244	4,889
	At 30June 2021		15,863	141,717	157,580
	NET BOOK VALUE
	At 30June 2021	46,645	4,935	13,297	64,877
	At 30June 2020	46,645	6,580	9,468	62,693
15.	HERITAGE ASSETS
					Total
					E
	MARKET VALUE
	At 1 July 2020 and 30June 2021				382,05Q
	NET BOOK VALUE
	At 30June 2021				382,050
	At 30June 2020				382,050

FIXEDASSET INVESTMENTS
	Listed
	investments
	E
MARKET VALUE
At 1 July 2020	539,214
Additions	248,350
Disposals	(142,812)
Revaluations	90,333
At 30June 2Q21	735,085
NET BOOK VALUE
At 30June 2021	735,085
At 30June 2020	539,214

	Cost or valuation	at 30June 2021 is represented	at 30June 2021 is represented	by:
						Listed
						investments
						E
	Valuation in 2021					735,085
17.	INVESTMENT PROPERTY
	FAIR VALUE
	At 1 July 2020
	and 30June 2021					350,000
	NET BOOK VALUE
	At 30June 2021					350,000
	At 30 June 2020					350,000
18.	STOCKS
					30.6.21	30.6.20
					E	E
	Stocks				5,958	6,174
19.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE			YEAR
					30.6.21	30.6.20
					E	E
	Trade debtors				85,828	54,705
	Prepayments and	accrued income			6,625	10,632
					92,453	65,337
20.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
					30.6.21	30.6.20
					E	E
	Trade creditors				34,411	11 732
	VAT				11,681	13,832
	Other creditors				658	415
	Accruals and deferred		income		5,600	1,554
					52,350	27,533

							Net
							movement	At
						At 1.?.20	in funds	30.6.21
						E	E
Unrestricted		funds
General fund						674,006	139,264	813,270
Revaluation	fund					576,550		576,550
Designated	fund - Breed Improvement					226,060	47,065	273,125
						1,476,616	186,329	1,662,945
Restricted	funds
Restricted	fund					2,905		2,905
TOTAL FUNDS						1,479,521	186,329	1,665,850
Net movement		in funds, included		in the above are as follows:
					Incoming	Resources	Gains and	Movement
					resources	expended	losses	in funds
					E	E	E	E
Unrestricted		funds
General fund					671,762	(638,341)	105,843	139,264
Designated	fund - Breed Improvement				51,145	(4,080)		47,065
					722,907	(642,421)	105,843	186,329
TOTAL FUNDS					722,907	(642,421)	105,843	186,329
Comparatives		for movement	in	funds
							Net
							movement	At
						At 1.7.19	in funds	30.6.20
							E
Unrestricted		funds
General fund						561,033	112,973	674,006
Revaluation	fund					576,550		576,550
Designated	fund - Breed Improvement					164,390	61,670	226,060
						1,301,973	174,643	1,476,616
Restricted	funds
Restricted	fund						2,905	2,905
TOTAL FUNDS						1,301,973	177,548	1,479,521

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		E	E	E	E
Unrestricted funds
General fund		700,205	(611,138)	23,906	112,973
Designated	fund - Breed Improvement	66,675	(5,005)		61,670
		766)880	(616,143)	23,906	174,643
Restricted	funds
Restricted	fund	2,905			2,905
TOTAL FUNDS		769,785	(616,143)	23,906	177,548

					Net
					movement	At
				At 1.7.19	in funds	30.6.21
				E	E
Unrestricted		funds
General fund				561,033	252,237	813,270
Revaluation		fund		576,550		576,550
Designated		fund	- Breed Improvement	164,390	108,735	273,125
				1,301,973	360,972	1,662,945
Restricted	funds
Restricted	fund				2,905	2,905
TOTAL FUNDS				1,301,973	363,877	1,665,850

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		E	E	E	E
Unrestricted funds
General fund		1,371,967	(1,249,479)	129,749	252,237
Designated	fund - Breed Improvement	117,820	(9,085)		108,735
		1,489,787	(1,258,564)	129,749	360,972
Restricted	funds
Restricted	fund	2,905			2,905
TOTAL FUNDS		1,492,692	(1,258,564)	129,749	363,877

		Number of	Number of
		Members 2021	Members 2020
Northern	ireland	184	180
Scotland		80	70
Wales		277	274
North of	England	215	200
South of	England	119	117
South West of England		179	178
Midlands	and East Anglia	185	189
West Midlands		268	262
Overseas		22	23
		1,529	1,493

2011/2012	105Members
2012/2013	104Members
2013/2014	135Members
2014/2015	133Members
20'I5/2016	135Members
20'I6/2017	102Members
2017/2018	118Members
2018/2019	89Members
2019/2020	113Members
2020/2021	107Members

			2021	2020
			E	E
Turnover			616,292	588,463
Administrative Expenses			(642,421)	(616,143)
Other Operating Income			83,911	73,359
Operating Profit/(Loss)			57,782	45,679
Investment Income			22,705	18„463
Profit on Ordinary Activities	Before Taxation		80,487	64,142
Profit on Disposal of Investments			15,509	31,155
Trading Profit for the Financial Year			95,996	95,257
RECONCILIATION OF PROFIT AND LOSS ACCOUNT TO STATEMENTOF			FINANCIAL ACTIVITIES
			2021	2020
			E	E
Trading Profit for the Financial Year			95,996	95,257
Gift of Oil Painting (included	in Donations)			89,500
Profit on Revaluation of heritage assets				52,156
Profit on Revaluation offixed asset investment		property
Profit (Loss) on revaluation	ofhsted investments		90,333	(59,365)
Net Movement in Funds			186,329	177,548