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2023-06-30-accounts

Page
Report of the Trustees 1 to 5
Report of the Independent
Auditors		 6 to 9
Statement of Financial Activities 10
Balance Sheet 11 to 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 26
Detailed Statement of Financial Activities 27 to 28

30.6.23 30.6.22
Unrestricted Restricted Total Total
funds fund funds funds
Notes E E E E
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 5,000 5,000
Charitable
activities
Furtherance
of the breed		 614,681 614,681 612,640
Investment
income		 64,583 64,583 59,584
Other income 62,369 62,369 58,932
Total 746,633 746,633 731,156
EXPENDITURE ON
Raising funds 3,530 3,530 3,783
Charitable
activities
Furtherance
of the breed		 770,248 770,248 710,884
Total 773,778 773,778 714,667
Net gains/(losses)
on investments		 (20,951) (20,951) (46,840)
NET INCOME/(EXPENDITURE) (48,096) (48,096) (30,351)
RECONCILIATION
OF FUNDS
Total funds brought
forward		 1,632,594 2,905 1,635,499 1,665,850
TOTAL FUNDS CARRIED FORWARD 1,584,498 2,905 1,587,403 1,635,499

Balance Sheet
30June 2023
30.6.23 30.6.22
Unrestricted Restricted Total Total
funds fund funds funds
Notes E E E E
FIXED ASSETS
Tangible assets 14 58,459 58,459 61,874
Heritage assets 15 382,050 382,050 382,050
Investments
Investments 16 641,771 641,771 693,126
Investment
property		 17 375,000 375,000 375,000
1,457,280 1,457,280 1,512,050
CURRENT ASSETS
Stocks 18 6,890 6,890 6,890
Debtors 19 69,837 69,837 62,219
Cash at bank and in hand 101,095 2,905 104,000 155,838
177,822 2,905 180,727 224,947
CREDITORS
Amounts
falling due within one year		 20 (50,604) (50,604) (101,498)
NET CURRENT ASSETS 127,218 2,905 130,123 123,449
TOTAL ASSETS LESS CURRENT LIABILITIES 1,584,498 2,905 1,587,403 1,635,499
NET ASSETS 1,584,498 2,905 1,587,403 1,635,499
FUNDS 21
Unrestricted
funds		 1,584,498 1,632,594
Restricted
funds		 2,905 2,905
TOTAL FUNDS 1,587,403 1,635,499

Cash Flow Statement
for the Year Ended 30June		 2023
30.6.23 30.6.22
Notes E E
Cash flows from operating activities
Cash generated
from operations		 (116,665) 66,964
Net cash (used in)/provided by operating activities (116,665) 66,964
Cash flows from investing activities
Purchase of tangible
fixed		 assets (1,384)
Purchase of fixed asset investments (92,887) (221,784)
Sale of fixed asset investments 123,291 191,903
Sale of investment
property		 25,000
Dividends
received		 34,423 32,362
Revaluation
of Investment		 Property (25,000)
Net cash provided
by investing
activities		 64,827 1,097
Change in cash and cash equivalents in the
reporting
period		 (51,838) 68,061
Cash and cash equivalents at the
beginning
ofthe reporting		 period 155,838 87,777
Cash and cash equivalents at the end of
the reporting
period		 104,000 155,838
RECONCILIATION
OF NET EXPENDITURE TO NET CASH FLOW FROM		 RECONCILIATION
OF NET EXPENDITURE TO NET CASH FLOW FROM		 RECONCILIATION
OF NET EXPENDITURE TO NET CASH FLOW FROM		 RECONCILIATION
OF NET EXPENDITURE TO NET CASH FLOW FROM		 RECONCILIATION
OF NET EXPENDITURE TO NET CASH FLOW FROM		 OPERATING ACTIVITIES
30.6.23 30.6.22
E
Net expenditure
for		 the reporting period (as per the Statement of
Financial Activities) (48,096) (30,351)
Adjustments
for:
Depreciation
charges		 3,415 4,387
Losses on investments 20,951 46,840
Dividends
received		 (34,423) (32,362)
Increase in stocks (932)
(Increase) /decrease in debtors (7,618) 30,234
(Decrease) /increase in creditors (50,894) 49,148
Net cash (used in)/provided by operations (116,665) 66,964
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.7.22 Cash flow At 30.6.23
E E E
Net cash
Cash at bank and in hand 155,838 (51,838) 104,000
155,838 (51,838) 104,000
Total 155,838 (51,838) 104,000

DONATIONS AND LEGACIES
30.6.23 30.6.22
E
Donations 5,000
The income from donations and legacies was E5,000 (2022: ENil) of which E5,000 was unrestricted
(2022:
ENil).
INVESTMENT INCOME
30.6.23 30.6.22
E E
Rents received 30,160 27,222
Dividends 34,423 32,362
64,583 59,584
INCOME FROM CHARITABLE ACTIVITIES
30.6.23 30.6.22
Activity E E
Membership income Furtherance ofthe breed 110,614 88,503
Gift aid Furtherance of the breed 18,743 14,398
Registration fees Furtherance of the breed 242,083 232,845
Transfer fees Furtherance of the breed 35,116 41,494
Beefscheme levies Furtherance of the breed 24,596 42,834
Export fees Furtherance of the breed 904 575
Sales and commissions Furtherance of the breed 68,015 68,132
DNA testing Furtherance ofthe breed 110,093 121,484
Herd prefix Furtherance of the breed 4,517 2,375
614,681 612,640
5. RAISING FUNDS FUNDS
Investment management costs
30.6.23 30.6.22
E E
Portfolio management 3,530 3,783
6. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Direct (see note costs (see
Costs 7) note 8) Totals
E 8 E E
Furtherance of the breed 726,000 4,059 40,189 770,248
7. GRANTS PAYABLE
30.6.23 30.6.22
8 E
Furtherance of the breed 4,059 1,572
The total grants paid to institutions during the year was as follows:
30.6.23 30.6.22
E
Area Association Grant
4,059 1,572
8. SUPPORT COSTS
Governance
Finance costs Totals
E E E
Furtherance of the breed 1,967 38,222 40,189
9. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
30.6.23 30.6.22
E E
Auditors' remuneration 4,803 4,575
Depreciation - owned assets 3,415 4,387

30.6.23 30.6.22
f.
Wages and salaries 196,000 179,611
Social security costs 17,638 15,227
Other pension costs 3,886 5,221
217,524 200,059
The average monthly number of employees during the year was as follows:
30.6.23 30.6.22
Administration 4 4

Unrestricted Restricted Total
funds fund funds
E E E
INCOME AND ENDOWMENTS FROM
Charitable
activities
Furtherance
ofthe breed		 612,640 612,640
Investment
income		 59,584 59,584
Other income 58,932 58,932
Total 731,156 731,156
EXPENDITURE ON
Raising funds 3,783 3,783
Charitable
activities
Furtherance
ofthe		 breed 710&884 710,884
Total 714,667 714,667
Net gains/(losses) on investments (46,840) (46,840)
NET INCOME/(EXPENDITURE) (30,351) (30,351)

for th e Year Ended 30June 2023 e Year Ended 30June 2023 e Year Ended 30June 2023 e Year Ended 30June 2023 e Year Ended 30June 2023
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds fund funds
E E E
RECONCILIATION OF FUNDS
Total funds brought forward 1,662,945 2,905 1,665,850
TOTAL FUNDS CARRIED FORWARD 1,632,594 2,905 1,635,499
13. INTANGIBLE FIXED ASSETS
Certified Breedplan
trade setting
mark up costs Totals
E E E
COST
At 1 July 2022 and 30June 2023 3,966 25,480 29,446
AMORTI SATION
At 1 July 2022 and 30June 2023 3,966 25,480 29,446
NET BOOK VALUE
At 30June 2023
At 30June 2022
14. TANGIBLE FIXED ASSETS
Freehold Motor Office
property vehicles equipment Totals
E E f; E
COST
At 1 July 2022 and 30June 2023 46,645 20,798 156,398 223,841
DEPRECIATION
At 1 July 2022 17,097 144,870 161,967
Charge for year 925 2,490 3,415
At 30June 2023 18,022 147,360 165,382
NET BOOK VALUE
At 30June 2023 46,645 2,776 9,038 58,459
At 30June 2022 46,645 3,701 11,528 61,874

HERITAGE ASSETS
Total
E
MARKET VALUE
At 1 July 2022 and 30June 2023 382,050
NET BOOK VALUE
At 30June 2023 382,050
At 30June 2022 382,050

FIXED ASSET INVESTMENTS
Listed
investments
E
MARKET VALUE
At 1 July 2022 693,126
Additions 92,887
Disposals (121,633)
Revaluations (22,609)
At 30June 2023 641,771
NET BOOK VALUE
At 30June 2023 641,771
At 30June 2022 693,126

Listed
investments
E
Valuation
in 2023		 641,771
INVESTMENT PROPERTY
FAIR VALUE
At 1 July 2022
and 30June 2023 375,000
NET BOOK VALUE
At 30June 2023 375,000
At 30June 2022 375,000

18. STOCKS
30.6.23 30.6.22
E E
Stocks 6,890 6,890
19. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
E E
Trade debtors 56,474 50,136
Prepayments and accrued income 13,363 12,083
69,837 62,219
20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
E E
Trade creditors 26,458 80,433
VAT 11,171 18,593
Other creditors 731 668
Accruals and deferred income 12,244 1,804
50,604 101,498
21. MOVEMENT IN FUNDS
Net
movement At
At 1.7.22 in funds 30.6.23
E E E
Unrestricted funds
General
fund		 1,319,604 (34,678) 1,284,926
Designated fund - Breed Improvement 312,990 (13,418) 299,572
1,632,594 (48,096) 1,584,498
Restricted funds
Restricted fund 2,905 2,905
TOTAL FUNDS 1,635,499 (48,096) 1,587,403

Incoming Resources Gains and Movement
resources expended losses in funds
E E E E
Unrestricted funds
General fund 722,037 (735,764) (20,951) (34,678)
Designated fund - Breed Improvement 24,596 (38,014) (13,418)
746,633 (773,778) (20,951) (48,096)
TOTAL FUNDS 746,633 (773,778) (20,951) (48,096)
Comparatives for movement in funds
Net
movement At
At 1.7.21 in funds 30.6.22
E
Unrestricted funds
Generalfund 813,270 (95,216) 718,054
Revaluation fund 576,550 25,000 601,550
Designated fund - Breed Improvement 273,125 39,865 312,990
1,662,945 (30,351) 1,632&594
Restricted funds
Restricted fund 2,905 2,905
TOTAL FUNDS 1,665,850 (30,351) 1,635,499
Incoming Resources Gains and Movement
resources expended losses in funds
E E E E
Unrestricted funds
General fund 688,322 (711,698) (71,840) (95,216)
Revaluation fund 25,000 25,000
Designated fund - Breed Improvement 42,834 (2,969) 39,865
731,156 (714,667) (46,840) (30,351)
TOTAL FUNDS 731,156 (714,667) (46,840) (30,351)

Net
movement At
At 1.7.21 in funds 30.6.23
E E
Unrestricted funds
General
fund		 813,270 (129,894) 683,376
Revaluation fund 576,550 25,000 601,550
Designated fund - Breed Improvement 273,125 26,447 299,572
1,662,945 (78,447) 1,584,498
Restricted funds
Restricted fund 2,905 2,905
TOTAL FUNDS 1,665,850 (78,447) 1,587,403
Incoming Resources Gains and Movement
resources expended losses in funds
E E E E
Unrestricted funds
General fund 1,410,359 (1,447,462) (92,791) (129,894)
Revaluation fund 25,000 25,000
Designated fund - Breed Improvement 67,430 (40,983) 26,447
1,477,789 (1,488,445) (67,791) (78,447)
TOTAL FUNDS 1,477,789 (1,488,445) (67,791) (78,447)

Number of Number of
Members 2023 Members 2022
Northern Ireland 145 164
Scotland 73 85
Wales 249 274
North of England 202 209
South of England 106 110
South West of England 157 180
Midlands and East Anglia 154 181
West Midlands 251 273
Overseas 20 20
1,357 1,496

2013/2014 135Members
2014/2015 133Members
2015/2016 135Members
2016/2017 102Members
2017/2018 118Members
2018/2019 89Members
2019/2020 113Members
2020/2021 107Members
2021/2022 104Members
2022/2023 74Members
This schedule does not form part ofthe statutory financial statements.

2023 2022
E E
Turnover 614,681 612,640
Administrative
Expenses		 (763,458) (714,667)
Other Operating
income		 97,529 86,154
Operating
(Loss)/Profit		 (51,218) (15,873)
Investment
Income		 34,423 32,362
Profit on Ordinary
Activities Before Taxation		 (16,795) 16,489
Profit on Disposal of Investments 1,658 30,117
Trading Profit for the Financial Year (15,137) 46,606

2023 2022
E E
Trading Profit for the Financial Year (15,137) 46,606
Profit (Loss) on revaluation of investment property 25,000
Profit (Loss) on revaluation of listed investments (22,609) (101,957)
Net Movement in Funds (37,746) (30,351)
for the Year Ended 30Jun e 2023
30.6.23 30.6.22
E
INCOME AND ENDOWMENTS
Donations
and legacies
Donations 5,000
Investment
income
Rents received 30,160 27,222
Dividends 34,423 32,362
64,583 59,584
Charitable
activities
Membership
income		 110,614 88,503
Gift aid 18,743 14,398
Registration
fees		 242,083 232,845
Transfer fees 35,116 41,494
Beefscheme levies 24,596 42,834
Export fees 904 575
Sales and commissions 68,015 68,132
DNA testing 110,093 121,484
Herd prefix 4,517 2,375
614,681 612,640
Other income
Rental income 62,369 58,932
Total incoming
resources		 746,633 731,156
EXPENDITURE
Investment
management		 costs
Portfolio management 3,530 3,783
Charitable
activities
Wages 196,000 179,611
Social security 17,638 15,227
Pensions 3,886 5,221
Rates and water 6,475 13212
Premises
Et Health		 Insurance 8,050 7,480
Light and heat 24,699 21,400
Telephone 3,586 4,978
Postage and stationery 19,076 18,949
Shows & Breed Promotion 197,898 149,420
Sundries 4,229 7,611
Cleaning 11,222 8,831
Vehicle expenses 2,877 3,697
Travelling
expenses		 16,538 16,373
DNA testing 111,226 113,850
Repairs and maintenance 19,074 30,196
Carried forward 642,474 596,056

for the Year Ended 3 0Ju ne 2023
30.6.23 30.6.22
E
Charitable
activities
Brought forward 642,474 596,056
Breed improvement scheme 3,014 2,969
Breedplan costs 17,628 14,610
Subscriptions 1,854 1,208
Transfer of beef scheme levies to N.i. 35,000
Transfer of semen 15,393 17,016
Donations 7,222
Depreciation
of tangible		 fixed assets 3,415 4,387
Grants to institutions 4,059 1,572
730,059 637,818
Support costs
Finance
Bank charges 1,967 2,102
Governance
costs
Auditors'
remuneration		 4,803 4,575
Accountancy
fees		 3,715 3,564
Legal fees 29,704 62,825
38,222 70,964
Total resources expended 773,778 714,667
Net (expenditure)/income before gains and
losses (27,145) 16,489
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments (20,951) (71,840)
Realised gains/(losses) on investment property 25,000
Net expenditure (48,096) (30,351)