|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|8|
|Report ofthe Independent<br>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|





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|||||||30.6.21|30.6.20|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|fund|funds|funds|
||||Notes|E|E|E|E|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations<br>and legacies||||734||734|94,772|
|Charitable<br>activities||||||||
|Furtherance<br>of the breed||||615,560||615,560|583,190|
|Investment<br>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<br>activities||||||||
|Furtherance<br>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<br>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<br>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<br>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<br>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<br>funds||||1,662,945|1,476,616|
|Restricted<br>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<br>from operations||||60,587|149,698|
|Net cash provided<br>by operating<br>activities||||60,587|149,698|
|Cash flows from investing|activities|||||
|Purchase oftangible<br>fixed|assets|||(7,073)|(607)|
|Purchase of heritage<br>assets|||||(89,500)|
|Purchase offixed asset investments||||(248,350)|(235,467)|
|Sale offixed asset investments||||158,322|236,689|
|Dividends<br>received||||22,705|18,463|
|Net cash used in investing|activities|||{74,396)|(70,422)|
|Change in cash and cash equivalents||in||||
|the reporting<br>period||||{13,8Q9)|79,276|
|Cash and cash equivalents|at the|||||
|beginning<br>ofthe reporting|period|||101,586|22,310|
|Cash and cash equivalents|at the end|of||||
|the reporting<br>period||||87,777|101,586|





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## 

|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|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<br>for:||||||||
|Depreciation<br>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|





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|DONATIONS|AND|LEGACIES|||
|---|---|---|---|---|
||||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||



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|||||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'<br>remuneration||||3,760|3,650|
|Depreciation|- owned assets|||4,889|4,498|



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||||||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<br>and legacies||91,867|2,905|94,772|
||Charitable<br>activities|||||
||Furtherance<br>ofthe breed||583,190||583,190|
||Investment<br>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<br>activities|||||
||Furtherance<br>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<br>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<br>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<br>FALLING DUE WITHIN ONE|||YEAR|||
||||||30.6.21|30.6.20|
||||||E|E|
||Trade debtors||||85,828|54,705|
||Prepayments<br>and|accrued income|||6,625|10,632|
||||||92,453|65,337|
|20.|CREDITORS: AMOUNTS<br>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<br>- 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<br>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<br>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|



## 



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|||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<br>Expenses|||(642,421)|(616,143)|
|Other Operating<br>Income|||83,911|73,359|
|Operating<br>Profit/(Loss)|||57,782|45,679|
|Investment<br>Income|||22,705|18„463|
|Profit on Ordinary<br>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<br>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<br>(included|in Donations)|||89,500|
|Profit on Revaluation<br>of heritage assets||||52,156|
|Profit on Revaluation<br>offixed asset investment||property|||
|Profit (Loss) on revaluation|ofhsted investments||90,333|(59,365)|
|Net Movement<br>in Funds|||186,329|177,548|