Charlty reglstrallon number 221071 Company r•glstralion number 00351689 (England and Wale81 CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Teren￿ Pardoe SDA MIAgrM (Chaimwnl MK*ael Hutchinson MA (Cantab) MRAC MFH (WK%￿.. Calves 17 Bulls 51 Cows and hei18rs Total 118 The RÈ#trvè Herd These animals are Crown prop¢ty ar￿ V*ir management is complelety sep8rat& from that of the Chillingha herd. On Iheir la51 wunt the herd numberwas at 32 animaLs. Membership On 18 ￿ne 2024 there wore 436 nBmber5 ofthe Associalh)n. Publk benefrt Thè Assoaation will continue to be mindful of the Public Benefit. The main benefit being Ihè maintenance ol the unique herd ofwild whitè Catt￿ and the ofthe puNic lo th8m_ Financial report This wll be available at theAGM and an electron￿ or Ixistsl copy wll b0 sgnt upc¥) request. Invesbnent powers The Associab"on has th¢ ww¢r lo invest in CK upon such investments. securitiès or property as tt moy think fit, subject to th8 Twsl¢¥ Act 20(K). Financial revlew The finan¢i81 resums of the Association are detailed in the Statement of Finanual Acfyvities on page S and in notes to the a￿u￿15 on pages 9 to 23. The Associats'on had net assets of £1,088,121 as al 31 December 2023 (2022." £1.079.7101 as detailèd by tho Balance Sheel page 8. and also in the note5 to th8 8eiyJJnls. The princip81 funding sources and expenditure for the year urvfei review are detailed on page 5 and in the noles to the a¢¢ounl$. This has supported the key obiectives described on page 1. Reserves Thg Truslees have reviewed the rese￿e$ of the AsscKiatK)n in relat¥)n io current and fvtsjre requirements, and consider the levels held lo be adequate to allow theAssoc4ab"on to conb.nue to meet ils charitsble objectiv8s. CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT){CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Risk r•vl•w Th& Trustees have continued lo review the major risks to Ihe As50ryation and have established systems to mitsgate Ihesg. Thg fflain 0)nSide￿ are di￿$• in Ihe Cat￿, fire 8nd storm damage and arAdenl to members of staff. Specifically. tr)e genet￿ resourcè rèprèsented by the herd is also protecled by the maintenance of 8 r8serve herd. strUC￿Te, govemance and management The Association is a ￿g1SterÈd ttjrrpany nunknr ¢Y)351689 urwjer the Cowni$s A¢1 20C6 and rogislerod charity number 221071. It Was incorporated on 11th AFXI 1939 and ￿ goyerned by rts Memorandum and Articles oIAssg¢ialion whith were revised in 2￿4. Thwe havè been no Changes to the ¢onslttutson during the year. Trustses The day tts day njnning of the AS￿)c1allon is the ￿SpOnsibl1itY of tha Board of Trustees. TrLtstees seNè for temis ol three years, iheir appointrnènt5 being made and confimied at the annual general rneeting. On extxry of Iheif respèctivè terrns they are elpaible for rtrelection. The Trustees, who are also the dtrectors for ihe purw of tr￿￿panY law. and seNed during the year were". Terence Pardoe SDA MIAgrM {Chairm8n) Miehael Hutchinson MA (Cantabl MRAC MFH {VWtha￿￿nl Chailes Bain-smilh RIBA CA (WIC￿h8lrman} Chris Mullin LIB Jim Railton Bsc Sir Humphry Wakefield Bt. MA (Cantabl FRGS Prof. Stephen J.G. Hall MA PhD Louis Fell MRICS sa￿ra Mansall M8CS Frèdèrick Bosanquet Camilla DavM150ll Lucy Riddell (Resvjned 20 Cttober 2023) (Aprx)inled 21 July 2023) IApyinlo(121 Juty 2023) The appoinbmenl of new Trustees is on the re(*jrNnendath￿ of exi5tir¥J Tntstees. None of the Trustees has any L*ngfiual interest in the Ass(￿a￿On. Al of thè Tnjstees 8rè membèrs of Ihe A$s￿all￿ all¢J guarantee to contr1t￿te £1 in the event of a winding up. Th¢ Twstges, report was approved by the Board of Tnjstaes. Terence Pardoo SDA MIAgrM Ichalrnian Twslee fA Dated.. .1............. CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED INDEPENDEl+lT EXAMINER'S REPORT TO THE TRUSTEES OF CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED I report ttr the TTuslees on my examinati)n of thè financial ststements of Chillingham Wild Catdè ASs￿latIon Limited {the chÈritable companyl for the year ended 31 December 2023_ Rèsponsibilltles and basls of report A5 the Trustees of the charitable ￿MpanY (and 81$0 tts directors the purposes of company lawl you are responsible for th8 preparation of rinancial statements in aC￿rdance wlh the requirements of Ihe Companies Act 2006 (the 2006AGII. Having satisfied mysew that thè ffinancial Stateu￿ts ofthe charit8ble (ompany are not required lo be auditad under Part 16 of the 2006 Act Ènd a￿ eligible for indepeThknl examination. I report in resped of my examination of the ¢haritable comPan￿S financfjal stalwenls out under seth.on 145 of the Chartties Act 2011 (the 2011 Adl. In carrying out my Éxamination I have folb)wed an the applicable Dired¥)ns gven by the Chaiity Commission under secb.on 145{51(bl of the 2011 Ad. Indepèndent examlnerfs statement I have completed rny èxamination. l (xjnfvm that mattets have to my attent¥th in C￿nÈetiOn with thè exarninaliM gNi)g me cause to believe that in any material respect.. accounting records were nol ktrpt In respecl of the charitab￿ C￿1panY as requ¥8d by secb.on 386 01 the 2006 Ad". or the financial slal¢ments do not atMrd wth Ih05e records". the fm8nual statements do not comply wth the a¢counting requirements of section 396 of the 2006 Act other than any raquirement that the accounts gNa a true and fav view Yrt)ich Is riot a matteT considered a5 part of an indopendent examinats"on', or the financial slat¢ments have not been prepared ￿ accordano wilh the rnethods and prfndples of th6 statèment of RecomThEnded Prath"eé for accounti￿ and reporb.ng by charits.es applicable to charities preparin9 their a(￿Unts in a¢ctsrdan¢* 74Ath the Financial Rewb"ny Standard appI￿able in the UK and RepLtblic ol Ireland IFRS 1021. I have no other COr￿er￿S arT(I have come aeA)ss no other matters in fXNMwthon with th8 exarnination to which atlention should bè drawn in this repK*i in order to 8natAe a woper understanding of the finaneièl statements to be ed. stu dBSc ons} CA OipPFS 17 alkergafe epNick-upon-Tw¢ed Northumberland TD1510J Dat￿". CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Current financlal year Un¥e$lrlcted Unrestricted Restrlctèd Endowment funds funds fund5 funds general deslgnateil 2023 2023 Tot Total 2023 2023 2023 2022 Not•s Ineom¢ and endowments from". Donations and legacies Charitable activities Invèstments other in(xYno 17.418 35.921 7.803 97,450 22.418 37.293 7.803 97.450 239.356 35,692 4.968 78.609 1.372 Total Incorne 158.592 1.372 164.Sfj4 358.623 Expendlture an: Raising lunds Charitable activities Other expendibjrè 2.484 154.900 12.731 750 3,234 154,9(K) 12,731 4.072 127.817 670 12 ftstal expenditure 170.115 750 170,865 132,559 Net gainslllossgsl on investments 13 14.312 14.312 147.07S Nel Incomel(expendItu￿) (11.523) 15.r)64 4.250 8.411 178,989 Transfer5 between furKIs {38.448} 38.448 Ntt movèment in funds {49.971) 54.132 4.250 8.411 178.989 Reconclllatk>n of fund8: Fund balances al 1 January 2023 327.017 231.034 176.481 345,178 1.079.710 900,721 Fund balances 4t 31 December 2023 2n.046 285,166 180.731 345.178 1.088,121 1.079.710 The slalement of finanual a¢tfvfities Includes au gaIr￿ and bsse5 recognised in the year. All incxjme and expenclibjre derive from continuiThJ ath"vitses. CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES {CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Pilor financlal year Uni¢strlcted Unrestricted fund$ fur￿$ general dejignated 2022 2022 Restrkted Endowment funds funds Totsl 2022 2022 2022 Notes Income and ertdowments from: Donations ar￿ legaThe5 Charitable ¥ctivilies Investments oth•r income 165.383 33,921 73.973 239.356 35.692 4,966 78,609 1.7T1 78.809 Total Income 282.879 1.771 73.973 358,623 Expenditure on: Raising fvnd5 Chariiable activities othèr expenditurè 2,376 127.817 670 1.696 4,072 127,817 670 12 Total expendltur¢ 130.863 132,559 Nel gainslllossèsl on investmènls 13 147.0751 (47.0751 Net Incomellexpendlture) and movemènt in fvnds 152.016 {45.304) 72.277 178,989 Recon¢lllatlon of funds: Fund balances al 1 January 2022 175.(M)I 276.338 104.204 345.178 9N,721 Fund bal4n¢e$ at 31 Deeember 2D22 327.017 231,034 176.481 345.178 1.079.710 CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED BALANCE SHEET ASAT31 DECEMBER 2023 2023 2022 Notes Flxed assets Tangible assets Investments 16 17 529,087 271.643 527,882 254.379 8CQ.730 782,261 Current 85sets Sloeks Debtors Cash at bank and in hand 18 19 14,697 86,690 301.312 5,092 $5,207 324,007 402,699 384,3L Creditors: amounts falling due wlthln one year 20 (115.308) (88.3D81 Net current assets 287.391 297.998 Total assets lÈs$ ¢urrent liabilitles 1,068,121 1.080,259 Deferred incom8 {549) Nel assets ex¢ludlng penslon Ilablllty 1.088.121 1,079,710 The fvnds of the charltable company Endowment funds Restricled incomÈ I￿r￿S unrastr￿tÈd funds- general Unrestricted lunds- designated 21 345.178 180.731 277.046 285.168 345,178 176,481 327,017 231,034 23 1,088,121 1.079,710 The Association is Éntilled lo exemp*"on from the audit requirement eontained in section 477 01 the Companiès Act 2006, for the ygar gr¥Jed 31 Decembgr 2023. The directors acknowledg6 their resporrib1l￿eS for (xjtnptying wryth the requiramnts of the Cornpanies Act 2CQ6 with respect lo accounting rewds and the prepaiation of finanra81 statements. The membèrs have not requi￿ Ihe ¢>)mpany lo obtain an audit of i& finanual slalements for tha year in quèstson in accordanee vAth seckn'on 476. These financial statements havè bÈen prepared in acec*dan¢0 Mth the provi&ons applicablg to companies subject lo the small companies rÈgwne. CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED BALANCE SHEET (CONTINUED) ASAT 31 DECEMBER 2023 The financial staiements were approved by Ihe T￿￿teeS on . )JQ Terèneè Pardoe SDA MIAgrM ICh8imMnl Trustee Louis Fell MRICS Tru$let Company rÈgistration number ￿351689 (England and Wales) CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ountlng poli¢les Charity informatlon Chillingham Wikl Calue Association Ltnmted is a PTivato th8rrtable company limited by guarantee incorporated Fn Engla￿1 and Wales. The registered olke ￿ The Warden's Cottage. Chilingham. Alnwck. NE66 SNP. None of the Trust•es has èny beneficAal interest in the As￿lat￿n. Al of the Tru5tee5 are rnernb¢rs of tho Association antj guarantee tr> ¢On1n"t￿le £1 in the event of a winding up. 1.1 Accountlng convention The financial stat8mants havè bÈen prepared in a¢￿dance wilh the tharitable Companys 9oveming document, the Cornpanies Act 2006. FRS 102 Yhe Fina￿al Reporting Stsndard applicable in the UK and RepuM"c ol Ireland- I"FRS 102.1 and the Charities SORP "ACe￿Inting Ènd Reporti￿ by Charities." Statement of Recornmended Practice applicablè to charits.es prÈparing their accounts in accordance wth the Financial Rèporting Standard apFli¢able in the UK and Republ￿ ol Ireland IFRS 1021. {effective 1 January 20191. The (*arilable conN)any is a publ￿ Benefft Entity as defined by FRS 102. The charitable company has txken advantage of the provisM)ns in the SORP for chatitse5 not to pr¢pai9 ststement of Cash Flow5. The fin8na81 stslemenls are prepared in sterfing. wh￿h i% the funclic*T81 currenw of Ihe charitable company. Monetary amounts In these financial statements are rounded to noarg$1 £. The accounts havg LEen prepared un(ler the historical ¢J)st t￿Ven1K)n. rry)difi8d to include the revaluation of certain financial instNments al fair vahje. Thè prirKxpal aC￿lUnting p￿1￿eS adopted are set oul below. 1.2 Golng Concern Al Ihe b.me of approving the financial statements, the Tmstees have a reasonable expectation ¢h81 Ihe charitable corryjany has adequate restsjrces to continue n ope[at￿nal existenr£ for the foreseeable luture. Thus tha Tnjstees ￿ntInue to adopt the ￿'n9 wrKam bas￿ of a¢(￿unting in preparing the financial statements. 1.3 Charitable funds Unrestricted f¢Jnds are availab19 for usp al the discrebon of the Board of Tnjsteès in furtherancè of the y6n6rdl objecb'ves ofthe charty. Restricted funds must be èpplied in accordance with the specfft purpose fot which Ihey WQTV rawd. Th? ¢osts of raising and adrbwnisteting such frjnds arè charged agwnsl Ihe furKI. Where restricted funds are endowmènt funds. these are separately identified in the acccyjnts. Designated comprise funds whth ha￿ beèn sèt askle at Ihe discre*on of the Trustees for specific purposes. The purposes arKI ofthe designated funds are setout in the notes to the financial statements. 1.4 Income Incomè is recognised when the charitable company ￿ kgally entsued to it after any performance conditions have beeft met. the an*)unts can be measured reliably. and rt is probable that income wll be received. Cash donatlOn5 are recognised on receipt. Olher donatiowb5 are le￿nised once the Charitable company has been nOtif￿d of the donalitin. unrès5 perfOrn￿n￿ conditions requwe delerral of amounL Ineoma tax recoverable in relation to donal￿$ retsived under Gnl or deeds of o)venant is reccgnised at the b.me of the donation. CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMEprfs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounllng policies IContlnued} Legacies arè rècognised on receipl L* olherwse rf the ¢h8ritable ccffjpany has been nolifi¢d of an impÈnding distribution. thg amount is known. and receipl is expected. If the amount is not known. the legacy is treal$d as 8 eontingenl a55el. 1.5 Expendifvr¢ Resouices expended are al￿91ed lo dwect cttarrtab￿ eXpendi￿re. costs of gener8ting funds, or oth6r expendihjré and shown undei apwowiate headings. 1.6 Intanglble fixed asset$ other than w￿111 BasK Payynent entitlements 33.33% Straight 1.7 Tanglble ffxed assets Tangible fixed assets ?r¢ inth.alty measured at eost aThJ subsequeThUy Th￿s￿red at c£Jst or valuation, nel of dÈpraciat¥)n and arhy impaiment h)sses. Oepraciab.￿ is re￿niSed so as to write off Iho cost or valuation of assets less their residual valuès over their useful lives on the fOlh)v￿￿j bases-. Chillingham Patk Property Improvements Website IT Equipment Motor Vèhicles Plant and machinery 10% StraKJht Line 5Lvhf25% Slraight L 25% Straight Line 25% Reduung Balan 20% StravJht knnè The gain or I{￿S arising on the dispgsal of an asset is detarmined a5 the dIffere￿e between the sale prijcéads nd the carrying valuè of the assel. and is recognised n statemerbt of finaneial octivilies. Tangible fixed assets are capitslised at cost. wherè tha wrchase prico exceeds £200. Fixed assets ar¢ used in dwect furtheran￿ of tho tharitls objeds. The deprgciatM)n on prop¢rty improvèments Is Split between the revenue rèsefve fvnd and the lan Bennett Memorial fund. to match the depreciath?n to the fvnding used to prowde the asset. Fixed a5sels are reviewed by lh¢ Tnjstees for impaimianl and Writt￿ d¢)wn lo their reeoverable value. Although Companies Acl requires annual deweryab.on of fixed assets. therè is no Provision in the finawal slalements for deprovation of Chllingh8m Park laThJ and buildirvjs. The buildings are maintsined to a high standard lo prevent deteiioral'on. The esb"rn8i•d ￿SIdUal value of the tKJildings are, at cuThent prices. not less than their book value. The trusteès therefore beligve that the pdKy ol not providing ¢Jwrecialion Is nècessary for the ?￿oUntS to give 8 trtje and fair wew. 1.8 Flxed assèt Investrnents Fixed asset investments are initialfy measured at transaclion pri￿ eXdUdW￿ transaction costs. and are subsequently measured al fair value al each ￿P￿tINj date. Changes in fair walu¢ are recognisèd in net incomellèxpendilurel for1he year. Transactk)n ¢osts are expensed as incurred. -10- CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlny policies IContlnued} 1.9 ImpairTnent of fixed assets Al each repcffting end date. the charitable Company rEwew5 the carryTng amounts of its tangible and intangible assets to detemin& whathèr Ihèrè is any iM￿alKIn that those assets have suffered an impamment Ios5. If any such indication exists, the reeovtrrabb •mounl of Ihe asset is esbmated in order to detemine the extènt of the impaimenl loss (If any). 1.10 stocks Sbck5 are stated at th8 lowar of cost and estimated selling prTh less costs to complete and sell. Cost Com￿1$8$ dired Materia￿ ènd, where awicabfe. dwect kbour costs and t￿se ovorhgads that havg been incurred in biinging stixks to Iheir wesenl location and condi1￿. Items held for distribub.on at no or Jrninal consideration are measured the of replaeèmenl LX)St 8nd eosl. Net realisable valuè 1$ thtr gstim•W selling prKe kn all estimated costs of cOmpleb"￿ and costs to be inCu￿ed in wnarkethng, selling and dislribubon. 1.11 Cash and ¢ash equivalents Cash an¢J cash equivalents indude cash in hand, deFx)siis held at call wlh banks, olhet $hort-frrm liquld investments with original maluritie5 of three months or ￿$$. aThJ bank overdrafts. Bank overdrafts arè shown within borrowngs in current lia1￿1((les. 1.12 Flnanelal In$lruments The charrtable company has elected lo appty the proviS￿S of Section 11 'Basic Financi81 Instnjmènts, and Section 12 '0ther Finaneial Instrument5 Issues. of FRS 102 to all of its financral instruments. Financial instmments are rwnisèd in Charitab￿ comPan￿S balance sheet when the charilable company becomes party lo the contractual prO￿5￿S of the instrument Finanaal assÈls 8EKI liabilitres are offse( with the net amounts presented in tho fingn¢ig1 slalgments, whgn there is a legally ènforceable r￿ht to sel off the recognised amounts and there is an Irtention to settle on a net basis oi lo real'se Ihe asset and settle the liability ￿mUltaneoUsly_ Baslc financlal assets Basi¢ fin8nryal asse15. vthr¢h indude debtors and cash ènd bank balance5. ale initially measured al transacti￿ Pri￿ including Iransactti)n costs and are subsequenlty carried at amortisèd c05t Using the Èffetttive inlere$l method unless thè arraNjerr￿t eonstiiutes È financ￿￿ transactKJn. where the lrartsad￿n is measured at the presenl value of the futuie [￿elpts dIs￿unted al a markel rate of interest. Financial assets dassified as receniable vAthin one yoar are not amortised. Basle flnAnclaJllabllities Basic financia1 liabilÈti"gs, in¢ludir¥J credrt(Ys and bank loans are initially reo)gnis8d at transaction pric8 unlèss the atrangemenl cor)slilutes a financdng transaction, wharè thÈ dèbt instrument is measured al the present value of the future payFrEnls disccmjnted at a maiket iaie of intg1g&L F￿0￿￿￿81 ha￿.11￿"e5 classified as payable thin one year are mt arnortised. Debt insknuments subsÈquÈntty ￿Tried at am0rDs￿l cost. using the effective interest rate method. Trade ¢roditors are oblualions to pay for servi￿$ that have been wuired In the ordinary course of operations from suppliers. Amounts PaYa￿e are dassrfied as ujrront liabilities il p8ymÈnt is due within onè year oi less. If nol. they are wesented as non-current liabilib"es. Trade creditors are recognised inib'ally at transaction pri￿ and subsequentty measured at grn(wtised cost u5￿g the effective interest ￿￿thod. Dw•eognlllon olflnanclalllabilities Financial Iiabililios are derecognBe(I when Ihe charitabk conyany's contRctual obligations expire or are 1$charg￿l or cancelled. CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles {Conilnuedl 1.13 Employee ben¢fits The ctrst ol any unused holiday entilement is leo￿lse￿ ￿ Ihe period in whKh the èmployee's Bervices are received. Temiination benefits Ore recognised immediatety as an eypense vhen tha charitable company Is domonstrably ajmmilted ￿ lermnate the empkjyment ofan employee ￿ to prowde termination t￿nefitS. 1.14 Taxation Th• eompany is a registered tharity and has exeWKM) from U.K. direct laxab"tsn. Accord¥igly Ihere are no taxation effects lo be illustratèd in respect of gains, either realised or unrealtsed. arisng on #iveslments. Tax is reclaimed on New donations madè by indiwduals. spJn tha appropriatè declaration. The amount iedaimed is included within don81ions inc£Jming res(xircès and disdosed separatsly in the notes to Ihe financial slatem¢nis. crftlcal accountlng estlmates and Sudgements In the application of the Charitab￿ companYs accounting p￿l￿e$, the Trustees are tequired lo make judgemen15, estimates 8nd 8ssumptKJns aboui thè carrying aIll￿nt of assets and liabilities that are not readily apparent from tsthar sources. The estimates and osswated assurnptions are based on historical experience and other fa¢tL¥s Ihat are c(￿51d*r0d lo be relevanL Actual results may drfferfrom these ostimales. The estimates and underlwNJ ossumptions are revM¥ed ￿ an ongoiro basis. Revisions to accounting estimales are rerx)gnised in the peiwjd li whith thè astimate is revised where the ￿vIsion altects only that period, or in thè period of the remsion and ftjturtr perpAs where the revision affects both eurient and fvturo periods. In¢omÈ from donations and legacles Unrestrlcted R•$tricted fvnds fvnds 2023 2023 Total Unrèstricted Restricted funds funds 2022 2022 Total 2023 2022 Donations and gift5 Grant incThme subscripb.ons 14.263 14.263 163.336 47,730 25,743 211.066 25,743 2.547 3.155 3.155 2,047 17.418 22.418 165,383 73.973 239.356 Donations have been reeèived from indmduals. tr￿ts ond fwndaticms during the ￿ar. -12- CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Income from charitable ¥divltre$ Charltable Charitable actlvltlès activities 2023 2022 Vlsitor fees Sale of leaflets. mugs ètc. other income 29.533 6.472 1,288 27.466 7,465 761 37.293 35,692 Analysi5 by fund Unrèstrietèd lunds- general Unrestricled funds- designated .921 1,372 33,921 1,771 37,293 35,692 Income from Investm¢nt$ Vnrestricted Unrestrlcted funds funds 2023 2022 Rental incorN& Incorne from U.K listed investments Interest receNablg 250 5.436 2.117 250 4.473 243 7,803 4,966 other Income Unre4tri¢led Unrestrlcted funds funds 2023 2022 Royaltie5 HLS income Countryside Slevrardship Basic Paymenl S¢heme 31.565 3,6(K) 49.555 45,230 20,655 25,454 97,450 78,609 13- CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 EXpendi￿r• on raislng funds Unrèstrfcted Restricted lunds funds 2023 2023 Total Unrestricted Restrleted funds lunds 2022 2022 Total 2023 2022 Fundral$177g and publicity Fundraising agents 750 750 1.696 1,696 Inveslment management 2.484 2.376 2.376 Totsl costs 2.484 750 3,234 2.376 1,696 4.072 Expenditure (In charftable aetlvlties Charitsble Staff costsDepr•ciatlon activitie5 2023 Total 2023 2023 2023 Dlre¢t costs Staff costs Oeprecialion and impairmènt Professional fees Motor expenses Goods ftx resale Wort d¢)ne Repairs and deaning Insurance Printsng, staliontrry. wslage 8nd teleph￿e Advertising and markebng General administrauon expenses Bank Charges Account8ncy Other chaiitablè axpenditur 48210 48.210 18,547 4,270 3,038 3,376 16,40QI 38.667 5.993 1,305 2.571 4.504 999 5.044 1,976 18.547 4.270 3.038 3.376 16.400 38.fj67 5.993 1.305 2.571 1.976 88.143 48.210 18.547 154.900 Analysls by fund Unreslrthd funds- genwal 88.143 48210 18.547 154,900 14- CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expendlture on ¢harftable activities (Continued) Prevlous year.. Charitable Staff costsDepreciation actlvltles 2022 Total 2022 2022 2022 Dlrect eosts Staff costs Depreciation and impairment Professional fees Motor axpèn5es Goods for iesale Work don8 Feeding stuffs Repairs and deaning Insurance Piinbng. stat￿nerY, postagè and telephone Advèrtising and markelThJ General alminislralion expenses Bank charges Aceountsncy Other charitatAo gxpendilure 41.764 41.784 14,￿3 3,588 3,300 4.515 14,619 1.750 20,951 5,234 918 5,090 3,749 910 4.4e4 2.042 14.903 4,515 14,619 1.750 20.951 5.234 918 5.09D 3.74> 910 2.042 71.150 41,764 14.903 127.817 An•ly$l$ by fund Unrestricted funds- general 71.150 41.764 14.903 127.817 Net movement in fvnds 2023 2022 Th8 net mtsvÈment in funds is stated after thargi@(creditiThJ): Depreciation of owned tar￿Ible fued assets 20,369 15.692 10 Trustees Funds of the Association have used to prowde widemnty insurants to protect Ihe charitable company and its Trustees against Ihe consequences of any nagb¢t or default. The cost of Ihe polw was £427 kn tho year P022: £420). 15- CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Employees Thè average monthly number ofempknyees durirtrg the year was: 2023 Number 2022 Number Full tlme (with redueed winter PTouis> Part-time (during open season) Total Employment costs 2023 2D22 Wages and 5a18ries 48,210 41,764 There were no 8mployeeswhc6ty annual remunèratson was fTV)Te than £60.000. 12 Other expendlture Unrestricted Unrestri¢led tunds lunds 2023 2022 Tirykner eXt￿￿'on costs 12,731 670 13 Galns and loss•s on Investments Unrestrl¢ted Unrestrlctod funds fvnds designated dèsignated 2023 2022 Gainsl{kJssesl arising on.. RevalUat￿n of investrnÈnts Sa18 of investments 17,276 {2.9fj4) 157,3521 10.277 14,312 (47,0751 14 Taxation The charitablè company 1$ exempl from tsx incDme and gains falling wilhin seclj.on 505 of the Taxes A¢1 1988 or sectKJn 252 of the Taxation of Chargeabtp Gains Aci 1992 to the extent that these are applied to ils charilable objects. 16- CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 15 Intanglble fixed #ssets 8asic Paymenl entitlements Cost Al 1 January 2023 a￿{ 31 Decembèr 2023 28.832 Amortlsatk>n and impairnient At 1 January 2023 and 31 Dècember2023 28.832 Carylng amount At 31 December 2023 At 31 December 2022 17- no O)r4 *rJ 000 ono ootrr CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 Fixed asset knvestsnents Lksttd Investments Cash In portfollo Total Cost or valuation Al 1 January 2023 Additions Valuation thonges DisposÈls 242.749 71.720 14,313 158.427} 11,030 63.882 254,379 135,582 14,313 1132.6311 74.2041 At 31 December 2023 270.355 1,288 271,643 Carrying amount At 31 Deeernber 2023 270,355 1.288 271.643 Al 31 D&c•mbar 2022 242.749 11.630 254,379 18 Stocks 2023 2022 Raw materials and consumables 14,697 5,092 19 Debtors 2023 2022 Amounts falling due withln one yt•r: Other debtors Prepayments and acerued ineoms 85.CN)2 53,553 1.654 86.690 55.2Q7 20 Creditors: amounts falling due wtthln one year 2023 2022 other taxation and sw81 security Trade credrtors VioletT8nkervli le Ch￿itable Tnjst Fund Loan Acctuals arKI deferred income 3.142 16.031 g1,300 2,835 625 7.408 76.1)00 2.275 115,308 86.308 19- CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 21 Endownwnt lunds End0￿Ment fijnds represent assets wh•* must be held pmmnenlly by the charitable company. Income arisin9 on the endowrt*nt funds can be Ltsed in awjrdance with th¢ otiects of Ihe charitable company and is includèd as unrestricted it)come. Any Capital gains or kjsses arisir¥J on the assèts forn part of the fund. At 1 January 2023 At31 Decembèr 2023 Perm•n*nt endo￿n•￿ts 345,178 345.178 Prevlou5 year: At 1 January 2022 At31 Dècember 2022 Pernwnent endovmients Park Purchase and ImprovementAppeal FurKI 345.178 345.178 The Park Purchase and Imprtsvemenl Appèal Fund 15 0 tEstricted endowment fund into whlch donations raised to purehase the park and finarKe future improvements to the park are paid. Restrf¢ted lunds The inwrne funds ol charitable (x)mpany iestricled funds compri5NvJ the followng un8xpended balances of don8bc￿$ and giants held on trust speufic purposes.. At l January 2023 Incomlng resources Resources expended At31 Dèetmber 2023 Life Membèrship Fund Education and Slaff CA)sts Fund Bandstsnd Fund 35,689 29,958 110.834 35,689 29,958 115,084 17501 176.481 5.000 (7501 180,731 CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEmE￿rs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Restricted lunds (Continued} Prevlou$ ye¥r- Al 1 January 2022 Incoming resources Resourc¢$ expended At31 December 2022 Lrfo Membership Fund Education and Stalfcosts Fund Bandstand Fund 35.169 29.958 39.057 35.689 29,956 110,834 73,473 11.6961 104,204 73.973 11.6961 176.481 The Life Membership FUNI is a restricted fuThJ, into which subsuiptions from lrfe members are paid. The balar￿e of this Fund therefotg represents the ac(JJmulaled Itfe membership subscriplk)ns that are available for P￿ication toward charilaLqe adwikn"es. The EducatK)n and Staff Cosls Fund a restricted fijnd. inlo whith donations raised to pay for future 8ducalional proiect Costs and staff costs. are paid_ The Bandstand Fund is a reStr￿ted fund, intts whth donat￿$ raised lo pay for the renovation of the Bandsiand, aTe paid. Unrestrleted lunds- designated The income funds of Ihe Charitable *>Jmpany indude the designated funds which havè been set asidè out of unrestricted funds by the trustees for spectfic purposes. These funds are matarial to thè Charitable company'$ •cknvib"es made up as follows." At 1 January 2023 Incoming re50ur¢es Transfers Gains and losses At31 December 2023 Chillingham Book Prqe¢t Devek)pment Fund 12,151 218,883 1.372 13.523 271.643 38.448 14.312 231.034 1.372 38,446 14.312 285.166 Prevlous year= At1 January 2022 Incomlng rèsaurces Transfers Galns #nd 10$se$ At31 December 2022 Chillingham Book PrcyÈct Dèvekjpmenl FuThJ 10.380 265.958 1.771 12.151 218,883 147.075} 276,338 1,771 (47.0751 231.034 -21 CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 23 Unre5tr1cted fund$- deslgnattd Icontlnuedl The Chllingham book fur￿ relate5 to the prc*Ju¢tion of a br** atKwt Chllingham in Northumberfand. Thè developm¢nl fund is a f￿d Specifi￿llY sel aside for the devebpmenl ol the Park reprèsenting the value of investments held. The transfer re￿IVed f￿)M the unrestricted fuThJ ￿preSentS the balance of additions and disposals made to th& pcwwdig durirvJ thè yaar from the general re5wve. The investment income from this fvrKI is lodged in tha general revenue reserv¥ fund and used fc￿ the bor￿ ol the AS¥￿latiOn. Unrestrlthd funds At 1 January Incoming 2023 r¢50urces ReSoU￿eS xpended Transfers At31 Oecèmber 2023 General l& lan Bennell Revenue ReseNo 327.017 158.592 1170.1151 138.4481 277,046 Prevlous year: At 1 January 2022 Incoming Resources resources •xpeTrded Transfers At31 Decembèr 2022 Goneral l& lan B￿ne1) Revenue Reservo 175.W1 282.879 (130.8631 327.017 Thg General l& lan Bennetl Urweslrthd Revenue Reservè rwesents the oper8tin9 incorne 8nd expeNJiture of the Association. 25 Analysis of assets between lunql$ Unrestrlcted Unrestrithd fund$ funds general designated 2023 2023 ReStr￿l•d Endowment funds funds Total 2023 2023 2023 At 31 December 2023.. Taroiblè assets Investments Current a55etsllliabilitiesl 183.909 345.178 529,087 271,643 287,391 271,643 13.523 93.137 180,731 277.046 285.166 180,731 345,178 1,D88.121 -22- CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 25 Analysls of not ossets belween lund$ IContlnu•dl Unrestrlcted Unre$tricted lund6 funds general deslgnated 2022 2022 Rèstricted Endowment funds lund$ Total 2022 2022 2022 At 31 December 2022.. Tangble assets Investmenls Current a$sèt511lial￿1I￿.eSl Provisions and deferred ￿cOMe 46,797 135.gJ7 345,178 527,S82 254,379 297,998 (5491 254.379 (22.7961 {549) 280220 40.574 327,017 231.034 176.481 345.178 1,079.710 26 Rèlated party transactlons Thera wèr8 no disdosablo rekled party transactions during the year, further lo those (y)1￿eming th& charitable eotrp8nls Trustees as dg18led uThYer rv)te 9 (2022.. None). -23- CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 310ECEMBER 2023 2023 2022 Donations and legacie5 General donati)ns Grants Subscriptsons Donations Ire51ricted fvrwjsl New Pavilion grant Life member subseriptions 5.263 9.000 3.155 163.336 2.047 47.730 25.743 500 5.ty)0 22.418 239,356 Investment Income Rent received Deposit aecount interest Invgslrnent income 250 2.117 5,436 250 243 4,473 7.803 4.968 Incoming r¢$ources from charitable activltles VBltors fees Sale of leaflets. mugs elc. Food and drwik sales Book sales 28.161 6.472 1.288 1.372 25,695 7.465 761 1,771 37.293 35,692 other incomin9 rèsources Forèstry incomg HLS inex)me Countryside Stewardship Basic payment s¢heme 31.565 3,600 49,555 45.230 20.655 25.454 97.450 78.6Qg Total Incomlng resources 164.964 358,623 Resource6 ex nded Costs of generating df>nallons and legacies Fundraising agents (75D) 11.696) Investment management ￿St$ Investmènt pcrftfolio fnÈnagement ￿S*S {2.4841 12,3761 Balanet Carrled Fowiard 161.730 354,551 -24- CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED DETAILED INCOME AND EXPENDITURE ACCOUNT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Balance Brought Fonvard 161.730 E-i I 3S4,551 Charltable aetlvltl¢s MolDr and travel expgnse5 Goods for resale Wcwk donè Feeding sluffs Reparrs and clèaning Insurallce Pr￿lIng. slab'on•ry. postage and t￿eN￿Se Advertising General administration ex￿￿5eS Bank eharges Accouniar Rates Piofèssional fees lunrestrictedl 3,3 4,515 14,819 1.750 20.951 5,234 918 5,090 3,749 910 4.484 2,042 3,588 3,376 16,4¢￿) 38,667 1.305 2.571 5.044 1.976 4,270 {88.1431 78,3941 Staff costs Wages (48,2101 141,7641 Depreciation IT equipment Motor vtshidès Propety improvements Profivllossl on d1$F￿$81 of fixed assets Plant atyj mxchinery depreciat￿n 53 1.887 10,552 17891 6,449 10.634 {1,822) 3,246 118.5471 114.9031 Other resour¢¢$ expended rimber extraction costs {12.731) 6701 Net movoment on investments MF Revaluatron o)f investments MF Gain or knss on sale of investn￿t$ 17,276 {2.964) 157.3521 10.277 14.312 147.0751 Surplus for the Y¢ar 8.411 178.989