|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|5|
|Report of the Independent<br>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|





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## 

||||||30.6.23|30.6.22|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|fund|funds|funds|
|||Notes|E|E|E|E|
|INCOME AND ENDOWMENTS|FROM||||||
|Donations<br>and legacies|||5,000||5,000||
|Charitable<br>activities|||||||
|Furtherance<br>of the breed|||614,681||614,681|612,640|
|Investment<br>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<br>activities|||||||
|Furtherance<br>of the breed|||770,248||770,248|710,884|
|Total|||773,778||773,778|714,667|
|Net gains/(losses)<br>on investments|||(20,951)||(20,951)|(46,840)|
|NET INCOME/(EXPENDITURE)|||(48,096)||(48,096)|(30,351)|
|RECONCILIATION<br>OF FUNDS|||||||
|Total funds brought<br>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<br>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<br>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<br>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<br>funds||||1,584,498|1,632,594|
|Restricted<br>funds||||2,905|2,905|
|TOTAL FUNDS||||1,587,403|1,635,499|








## 

|Cash Flow Statement<br>for the Year Ended 30June|2023|||||
|---|---|---|---|---|---|
|||||30.6.23|30.6.22|
||||Notes|E|E|
|Cash flows from operating|activities|||||
|Cash generated<br>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<br>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<br>property|||||25,000|
|Dividends<br>received||||34,423|32,362|
|Revaluation<br>of Investment|Property||||(25,000)|
|Net cash provided<br>by investing<br>activities||||64,827|1,097|
|Change in cash and cash equivalents||in the||||
|reporting<br>period||||(51,838)|68,061|
|Cash and cash equivalents|at the|||||
|beginning<br>ofthe reporting|period|||155,838|87,777|
|Cash and cash equivalents|at the end|of||||
|the reporting<br>period||||104,000|155,838|





||RECONCILIATION<br>OF NET EXPENDITURE TO NET CASH FLOW FROM|RECONCILIATION<br>OF NET EXPENDITURE TO NET CASH FLOW FROM|RECONCILIATION<br>OF NET EXPENDITURE TO NET CASH FLOW FROM|RECONCILIATION<br>OF NET EXPENDITURE TO NET CASH FLOW FROM|RECONCILIATION<br>OF NET EXPENDITURE TO NET CASH FLOW FROM|OPERATING|ACTIVITIES||
|---|---|---|---|---|---|---|---|---|
||||||||30.6.23|30.6.22|
||||||||E||
||Net expenditure<br>for|the reporting|||period (as per the Statement of||||
||Financial Activities)||||||(48,096)|(30,351)|
||Adjustments<br>for:||||||||
||Depreciation<br>charges||||||3,415|4,387|
||Losses on investments||||||20,951|46,840|
||Dividends<br>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<br>(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<br>activities||||||
|Furtherance<br>ofthe breed|||612,640||612,640|
|Investment<br>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<br>activities||||||
|Furtherance<br>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<br>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<br>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<br>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<br>Expenses|(763,458)|(714,667)|
|Other Operating<br>income|97,529|86,154|
|Operating<br>(Loss)/Profit|(51,218)|(15,873)|
|Investment<br>Income|34,423|32,362|
|Profit on Ordinary<br>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<br>and legacies|||||
|Donations|||5,000||
|Investment<br>income|||||
|Rents received|||30,160|27,222|
|Dividends|||34,423|32,362|
||||64,583|59,584|
|Charitable<br>activities|||||
|Membership<br>income|||110,614|88,503|
|Gift aid|||18,743|14,398|
|Registration<br>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<br>resources|||746,633|731,156|
|EXPENDITURE|||||
|Investment<br>management||costs|||
|Portfolio management|||3,530|3,783|
|Charitable<br>activities|||||
|Wages|||196,000|179,611|
|Social security|||17,638|15,227|
|Pensions|||3,886|5,221|
|Rates and water|||6,475|13212|
|Premises<br>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<br>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<br>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<br>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<br>costs|||||||
|Auditors'<br>remuneration|||||4,803|4,575|
|Accountancy<br>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)|