2022-06-30-accounts - The Hereford Cattle Society

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Report ofthe Trustees		1	to	6
Report ofthe Independent Auditors		I	to	10
Statement of Financial	Activities
Balance Sheet		12	to	13
Cash Flow Statement
Notes to the Cash Flow	Statement		15
Notes to the Financial	Statements	16	to	28
Detailed Statement of	Financial Activities	29	to	30

for the Year Ended 3	0June 2	022
						30.6.22	30.6.21
				Unrestricted	Restricted	Total	Total
				funds	fund	funds	funds
			Notes	E	E		f
INCOME AND ENDOWMENTS		FROM
Donations and legacies
Charitable activitIes
Furtherance of the breed				612,640		612,640	615,560
Investment income Other income			3	59,584 ~58 932		59,584 ~58 932	49,849 56,764
Total				~731 156		~731 156	~722 907
EXPENDITURE OH
Raismg funds			5	3,783		3,783	3,232
Charitable activities			6
Furtherance of the breed				~710884		~710884	~639 189
Total				~714667		~714 667	~642 421
Net gains/(losses) on	investments			~46 840)		~46 840)	~105843
HET INCO/6E/(EXPENDITURE)				(30,351)		(30,351)	186,329
RECOHCILIATION OF	FUHDS
Total funds brought	forward			1,662,945	2,905	1,665,850	1,479,521
TOTAL FUNDS CARRIED FORWARD				~1632 594	~2905	~1635 499	~1665 850

for the Year Ended 30June	2022
				30.6.22	30.6.21
			Nol.es	6	6
Cash flows from operating	activities
Cash generated from operations				~66 964	~60 587
liet cash provided by operating activities				~66 964	60 587
Cash flows from investing	activities
Purchase of tangible fixed assets Purchase of fixed asset investments Sale offixed asset investmcnts Sale ofinvestment property				(1,384) (221,784) 191,9D3 25,0DO	(7,073) (248,350) 158,322
Dividends received Reva(uation of Investment	Property			32,362 ~25 000)	22,705
Net cash provided by/(used	in) investing		activities	~1097	~74 396)
Change in cash and cash equivalents		ln
the reporting period Cash and «ash equivalents	at the			68,061	(13,809)
beginning ofthe reporting	pel(od			~87 777	101 586
Cash and cash equivalents	at the end	of
the reporting period				~f55 838	87,777

o the Cash Flow Statement Year Ended 30June 2022	o the Cash Flow Statement Year Ended 30June 2022
RECONCILIATION OF NET (EXPENDITURE)/INCOME		TO NET CASH FLOW	FROM OPERATING ACTIVITIES
			30.6.22	30.6.21
			E	E
Net (expenditure)/income for the reporting	period (as per the
Statement of Financial Activities)			(30,351)	186,329
Adjustments for:
Depreciation charges			4,387	4,889
Losses/(gain) on investments			46,840	(105,843)
Dividends received			(32,362)	(22,705)
(Increase)/decrease in stocks			(932)	216
Decrease/(increase) in debtors			30,234	(27,'l1 6)
increase in creditors			~49 148	24,817
Net cash provided by operations			~66 964	~60 587

AHALYSis OF CHANGES IN NET FUNDS
	At 1.7.21	Cash f(ow	At 30,6.22
	E	E	f,
Net cash
Cash at bank and in hand	87,777	~68 061	~155 838
	~87 777	~68 061	~155 838
Total	~87 777	68 061	~155 838

30.6.22	30.6.21
E
	734

The income from	The income from	donation	s and legacies was ENil (2021:E734)of whi	ch fNil was unrestricted (	2021:67	34).
Grants received,		included	in the above, are as follows:
				30.6.22	30.6.21
				c
Furlough	Grant					734
INVESTMENT INCOME
				30.6.22	30.6.21
				E	E
Rents received				27,222	27,144
Dividends				~32 362	~22	705
				~59 584	~49	849

			30.6.22	30.6.21
	Activity		E	E
Membership income Gift aid Registration fees Transfer fees Beefscheme levies Export fees Sales and commissions DNA testing Herd prefix	Furtherance Furtherance Furtherance Furtherance Furtherance Furtherance Furtherance Furtherance Furtherance	ofthe breed of the breed of the breed ofthe breed ofthe breed ofthe breed ofthe breed of the breed ofthe breed	88,503 14,398 232 845 41,494 42,834 575 68&132 121,484 ~2375	88,7(3 14,768 239,288 45,048 51,146 650 63,317 109,805 2,775
			~612 640	~6(5 560

The income from charitable unrestricted funds. E42,834 E51,146),The remainder being	The income from charitable unrestricted funds. E42,834 E51,146),The remainder being	The income from charitable unrestricted funds. E42,834 E51,146),The remainder being	activities was E612,640 (2021; of Beef Scheme Levies was general fund Within unreStriCted	activities was E612,640 (2021; of Beef Scheme Levies was general fund Within unreStriCted	activities was E612,640 (2021; of Beef Scheme Levies was general fund Within unreStriCted	E615,560) of which designated fund - fundS,	E615,560) of which designated fund - fundS,	all is incoming resources of breed improvement (2021;	all is incoming resources of breed improvement (2021;
RAISING FOHDS
Investment	management	costs
								30,6.22	30.6.21
Portfolio management								E ~3783	f. ~3232
CHARITABI.	E ACTIVITIES	COSTS
						Grant
						funding	of
						activities		Support
				Direct		(see note		costs(see
				Costs		7)		note 8)	Totals
				E		E			E
Furtherance	of the breed			~636	246	~1572		~73 066	~710 884
GRANTS PAYABLE
								30.6.22	30.6.21
								E	E
Furtherance	ofthe breed							1 572	641
The total grants paid to institutions			dudng the year was		as follows:
								30.6.22	30.6.21
								E	E
Area Association Grant
								~1572

				Governance
			Finance	costs	Totals
			6	8	E
Furtherance	of the breed		2 102	~70 964	~73 066
NET INCOhlE/(EXPENDITURE)
Net income/(expenditure)		is stated after charging/(crediting):
				30.6.22	30.6.21
				c	E
Auditors' remuneration Depreciation - ovmed assets				4,575 ~4387	3,760 ~4889

STAFF COSTS
			30.6.22	30.6.21
			E	E
Wages and salaries			179,611	182,742
Social security costs			15&227	12,113
Other pension costs			~5221	~8397
			~200 059	~203 252
The average month(y	number of employees	dunng the year was as follows;
			JO.6.22	30.6.21
Administration			4	4

12.	COMPARATIVES FOR	THE STATEMENT OF FINANCIAL	THE STATEMENT OF FINANCIAL
				Urtiestlktvdl	Restricted	Total
				funds	fund	funds
				E	E	E
	INCOME AHD ENDOWMENTS		FROM
	Donations and legacies			734
	Charitable activities
	Furtherance ofthe breed			615,560		615,560
	Investment income Other income			49,849 56 764		49,849 56 764
	Total			722 907		~722 907
	EXPENDITURE ON
	Raising funds			3,232		3,232
	Charitable activities
	Furtherance of the breed			~639 189		~639 189
	Tote I			~642 421		642 421
	Net gains on investments			~105843		~105843
	HET INCOME			186,329		186,329
	RECONCILIATION OF	FUNDS
	Total funds brought	forward		1,476,616	2,905	1,479,521
	TOTAL FUNDS CARRIED FORWARD			~!662945	~2905	~1665 850
13.	INTANGIBLE FIXEDASSETS
				Certified	Breedplan
				trade	selUng
				mark	up cos'ts	Totals
				E	f.	E
	COST
	At 1 July 2021 and 30June 2022			3,966	25 480	29 446
	AMORTISATION
	At 1 July 2021 and 30June 2022			3,966	~25 480	~29 446
	NET BOOK VALUE
	At 30June 2022
	At 30June 2021

TANGIBLE FIXED ASSETS
	I reehold	ssotvr	Office
	property	vehides	equipment	Totals
	E	E	E	E
COST
At 1 July 2021 Additions	46,645	20,798	155,014 1c384	222,457 1 384
At 30June 2022	~46 645	~20 798	~156398	223 841
DEPRECIATION
At I July 2021 Charge for year		15,863 ~1234	141,717 ~3153	157,580 ~1387
At 30June Z022		~I7 097	144,870	~161 967
NET BOOK VALUE
At 30June 2022	~46 645	~3701	~II 528	~61 874
At 30June 2021	~46 645	4,935	~13 297	64,877
HERITAGE ASSETS
				Iotal
				E
IAARKET VALUE
At 1 July 2021 and 30June 2022				~382 050
NET BOOK VALUE
At 30June 2022				~382 050
At 30June 2021				382,050

FIXED ASSET INVESTI6ENTS
	Listed
	investments
	E
66ARKET VALUE
At I July 2021 Additions Disposals Revaluations	735,085 221,784 (161,786) {101,957)
At 30June 2022	~693 126
NET BOOK VALUE
At 30June Z022	~693 126
At 30June 2021	~735 085

			Listed
			investments
			C
Valuation	in 2022		693,126
INVESThhENT PROPERTY
FAIR VALUE
At 1 July 2021 Revaluation			350,000 ~25 000
At 30June	2022		~375 000
NET BOOK VALUE
At 30June	2022		~375 000
At 30June	2021		350000
Fair value	at 30June 2022 is represented	by:
			E
Valuation in 2022			~375 000

18.	completed 23 STOCKS	/03/202	2 by Sunderlands.
					30,6,22	30,6.21
						E
	Stocks				~6890	~5958
19.	DEBTORS: AMOUNTS		FALLING DUE WITHIN	ONE YEAR
					30.6.22	tn, 6,21
					C	C
	Trade debtors Prepayments	and accrued income			50,136 ~12 083	85,828 ~6625
					~62 219	~92 453

			30,6.22	30.6.21
	Trade creditors VAT Other creditors Accruals and deferred income		E 80,433 'I8,593 668 ~1804	E 34,411 11,681 658 ~5600
			~101 498	52,350
21.	MOVEMENT IH FUNDS
			Net
			movement	At
		At 1.7.21	in funds	30.6,22
	Unrestricted funds		E	E
	General fund RevaluatIOn fund Designated fund - Breed Improvement	813,270 576,550 ?73 125	(95,216) 25,000 ~39 865	718,054 601,550 ~312 990
	Restricted funds	1,662,945	(30,351)	1,632,594
	Restricted fund	2,905		2,905
	TOTAL FUHDS	~1665 850	~30351)	~1635499

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
Unrestricted		funds	E	f.	E	E
Generalfund Revaluation Designated	fund fund - Breed Improvement		688,3?2 42 834	(711,698) ~2969)	(71,840) 25,000	(95,216) 25,000 ~39 865
			~731 156	~714667)	~46 840)	~3035i)
TOTAL FUNDS			~731 156	~714667)	~46 840)	~30 351)

Comparativ	e	s for movement in funds
				Net
				movement	At
			At 1.7.20	in funds	30.6.21
			E	E
Unrestricted		funds
General fund			674,006	139,264	813,270
Revaluation		fund	576,550		5/6,550
Designated		fund - Breed Improvement	22e,oeo	47,oe5	273,125
			1,476,616	186,329	1,662,945
RestrIcted	funds
Restricted	fund		2,905		2,905
TOTAI FUNDS			I 479 521	186 329	I 665 850

Compar	ative	net movement in funds, include	d in the above are	as follows:
			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
				E	E	E
Unrestricted		funds
General	fund		671,762	(638,341)	105,843	139,264
Designated		fund - Breed Improvement	~51 145	~4080)		~47 065
			~722 907	~642 421)	~105 843	186 329
TOTAL	FUNDS		~722 907	~642 421)	~105 843	~186329

A current y	ear 12 months and prior year 12 months	combined position is as follo	ws:
			Net
			movement	At
		At 1.7.20	in funds	30.6.22
		E	E
Unrestricted	funds
General fund		674,006	44,04I	718,054
Revaluation Designated	fund fund - Breed Improvement	576,550 ~226 060	25,000 ~86 930	601,550 312,990
		1,476,616	155,978	1,632,594
Restricted	funds
Restricted fund		2,905		2,905
TOTAL FUNDS		~1479 521	155978	~1 635499

		Incoming	Resources	Gains and	Movement
		resources f	expended 6	losses 6	in funds f.
Unrestricted	funds
General fund Revaluation fund Designated fund - Breed Improvement		1,360,084 ~93 979	(1,350,039) ~7049)	34,003 25,000	44,048 25,000 86,930
		1,~454 063	(1~357088)	~59003	~155 978
TOTAL FUNDS		1~454 063	(1~357 088)	~59 003	~155 978

Number of	Number	of
Members 2022	hllembers 2021
'l64		184
85		80
274		277
209		215
110		119
180		179
181		185
273		268
20		22
1,496	1,529

NUMEER OF NEW	MEMBEilS	ELECTE
2011/2012	105	Members
2012/2013	104	Members
2013/2014	135	Mernben
2014/2015	133	MembeIs
2015/2016	135	Members
2016/2017	102	Members
2017/2018	118	Members
2018/2019	89	Members
2019/2020	113	Members
2020/2021	107	Members
2021/2022	104	Members

		2022	2021	2021
		E	E
Turnover		612,640	616,292
Administrative Expenses Other Operating Income		(714,667) 88 154	(642,421) 83 913
Operating	(Loss)/Profit	(15,873)		57,782
Investment	Income	32 362		22 703
Profit on	Ordinary Activities Before Taxation	16,489		80,487
Profit on	Disposal of Investments	30 117		15!09
Trading Profit for the Financial Year		46.406		95 998

RECONCILIATIO	N OF PROF	IT AND LOSS A	TBAENTOF FINANCIAL ACTI	VmES
			2022	2021
			8	E
Trading Profit	for the Financial Year		46,606	95,996
Profit (Loss) on Profit (Lean) on	revaluation revaluation	of investment property of listed investments	25,000 ~)0) 957)	90 333
Net htovement	ln Funds		(30,351)	106,329