Charity rgglstraiion numb•r 221071 (England and Wales) Company r&giStrallon nUMr 003S1689 CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Terence Pardoe SDA MIAgrM (Ch8imian) Michael Hutchinson MA (Cantab) MRAC MFH (Vwchairmanl Charles 8ain-Smilh RIBA CA (VKe-chairrnan) Chris Mullin LIB Jim Railton Bsc Sir Humphry Wakefield Bt. MA {Cantab} FRGS Prof. Stephen J.G. Hall MA PhD Louis Fell MRICS Frederick Bosanquel Camilla Davidson Lucy Riddell Hugh Cheswfight (Appointed 13 August 20241 Patrons Lord Vinson DL LVO FRSA John Fletcher PhD BVM&S FRCVS Andrew W. Shepherd Bsc CAATII Secrétary GWA Cosec Ltd Charity numbfrr 221071 Company numb•r 00351689 Reglstergd offic The Warden's Cottage Chillingham Alnwick NE66 5NP Independent oxamln•i Stuart Faed Bsc (Honsl CA DipPFS 17 Walkergale BerMck-upon-Tweed Northumberland TD15 1DJ Sollclto Muckle LLP Time Central 32 Gallowgate NewcasU¢-up-Tyrte NE14BF
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED CONTENTS Pag• Trustees. report Independent examinerfs report Slalemenl of financial actIveS Balance sheet Notes to the finanoal ststements 8-22
CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report and ffinancial statements for the year ended 31 December 2024. The finanu81 slalemenls have been prepared in accordance the accounting polioes sel out in nole 1 to the financial statements and compty vrith the charitable company's goveming document, the Companies Act 2006 and "Accounting and Reportlng by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in attordance with the Financial Reporting Standard applicable in the UK anj Republic of Ireland IFRS 102)" (effective 1 January 2019). Oblèctivès and activities The charilable ¢ompany'5 pnnrApal objects"ves. as sel out in its Mernorandum of AssocialK•n. is lo maintain, preseNe and improve the herd of white ¢atVe Icommonly knosvn a$ the"Chillirkgham Wd Callle'l in their natural surroun(lings in Chillingham Park. NOrthumbertar. and lo keep and maintain the same in their indigenous conditions, and in particular maFntsin th*r purity of breeding free Irom any admixture of extraneous bl¢)od. There have been no changes in the objectives during the year. The Trustees have paid due regard lo guidance iswed by the Charity Commission in deciding what actNilies the charitable company should undertake. Chalmlan'g report f¢x thè year 2024 The yèar h8s been notable by the weather and although we have had Strong winds at times. none have done any major damage. We have however, finished clearing up after storm Arwen and replanled foling the clearance of limber. The clearing up seemed lo take forever but thanks lo Angus's delem)inatson and the Wardens patience in coping with Vi10rS and timber wagons. il has happened. There are still some places where odd tsees havin9 been loosened by AThn have eventually fallen to a gentte breezel A5 you will have noticed our contact you the members has been improved and the Information Clrculaled to you is a lot more comprehensive and I hope inlefesting. Thanks ft)r this goe5 to Ellie and new trustee, Hugh Che5vnight. l am sure that Ellie would lcoMe any additions from you for the monthly newsletter. We have continued wth the Edu110 involvemenl and Bosanquet Mivites Iwo sch¢)ols from this afea to come and vi51t the park and calue. Ellie and the wardens have been very involved and do a lot of ecljcational work with the children and they have also started a Saturday chiklren's day during the summer holidays in the park looking at nature in all its fomis. Visitor numbers are very milar to the preVuS year ond logether the mer¢handise $ale$ ntribUte signlficanlly lo our income. As well as the normal tours thal are held daily Ihere are private tours which are becoming more and more popular and also walking tcmjrs. There are olher spe¢ifi¢ tours such as photographic and loadstool tours and others. Somethirtg for everyone! On 31.12.22 there are 139 ¢atlle with 25 calves. 55 bulls and 59 cows arKI heifers. On 31.12.23 there are 118 cattle wth 17 cafves. 51 bulls and 50 cows and heifers. On 31.12.24 there are 124 cattle Tr•th 23 calves. 49 bulls and 52 co¥ and heifers My thanks must go lo the Wardens and A$sistsnts. Angu$ Collingwood Cameron and the Tru$lees. Wthoul them all the CWCA would not fvnclion. The bme that everyone puts into the Asswalion is much apprecialed by me.
CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT)(CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Hord numbers The total size of the herd at 31 December 2024 vrds 124 animals. as follows". Calves 23 Bulls 49 Cows and heifers 52 Total 124 Thg R&$ory9 Hgrd These animals are Crown propety and their management is cometety separate from that of the Chillingham herd. On their last count the herd number was at 32 animals. Mgmbershlp On 18 Jun& 2024 there were 436 members of the Association. Publlc beneflt The Association wll continue to be mindful of the Public Benefit. The main benefft being the maintenance of the unique herd of wild white cattle and Ihe access ofthe public lo them. Financial rèport This will be available al the AGM and an electronic or postsl copy will be sent upon requesl. Invgstment powors The Associaliorb has the pr)wer to invest in or upon suth invesknents. securities or property as il may think fit, subject to the Trustee Act 2000. Flnan¢lal revlew The financial su11$ of the Assoeiation are detsiled in Ihe Stslement of Financial Activitie5 on page 5 and in notes to the 8ccounts on pages 9 to 23. The Association had net assets of £1.171,600 as at 31 December 2024 12023= £1.088,121) as detailed by the Balance Sheet on page 8. and also the notes to the accounts. The principal funding sources and expenditure for the year under review are detaid on page 5 and in the notes to the accounts. This has Supported the key objectives described on page 1. R•s8rY05 The Trustees have reviewed the reseNes of the ASSOCtIon in relation 19 current and future requirements, and consider Ihe levels held lo be adequate to allow the Assouation to ntinue lo meet its charitable objectives.
CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)(CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Rlsk revlew The Trustees have continued to review the major risk$ lo the Association and have established systems to mitigate these. The main risks considered are disease in the calue. fire and stomi damage and accident to members of staff. Spe¢ifKally. the genetic resource represented by the herd is al prote¢ted by the maintenance of a reswve herd. Structur89 governanc• and managom•nt The Association is a registered company number 00351689 under the Companies Act 2006 and registered ¢harity number 221071. It was incorpofaled en 111h April 1939 and is govemed by its memOraum and Articles ofA$¢la1In which We revised in 2004. There have been no changes to the con51itulion during the year. Trusts&8 The day lo day running of the As$o¢ialion is the responsibility of the Board of Trustees. Trustee5 serve for lemis of three year8, their apprMentS being made and confirnd al the annual general meeting. On expiry of their respective terms they are eligible for re-elecb"on. The Trustees. who are also the dIOr$ for the purpose of company law. and who served during thp year were: Terence Pardoe SDA MIAgrM (Chaimian} Michael Hutchlnson MA Icanlabl MRAC MFH Ce-ChaimianI Charles Bain-smilh RIBA CA IVice-¢haimian) Chris Mullin LIB Jim Railton Bsc Sir Humphry Wakefield Bl. MA {Cantab) FRGS Prof. Stephen J.G. Hall MA PhD Louis Fell MRICS Fredeiick Bosanquel Camilla Davidson Lucy Riddell Hugh Ch&swright (Appointed 13 August 2024) The appointment of new Tfuslees 1$ on the recommendalion of existing Trustees. None of Ihe Truslees has any beneficial interest in the Association. All of the Trustees are members of the Association and guarantee lo eontribute £1 in the event ol a wnding up. The Trustees, report was approved by the Board of Trustees. T¢rence Pardoe SDA MIAgrM (Ch¥lmian) Trustee Dated.. 11 Juty 2025
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED I report to the Trustees on my examinalion of the financial slatemenls of Chillingham Wfild Cattle Association Limited (the charitable company) for the year ended 31 December 2024. Respon$lbllltle$ and basis of r•port As the Tw$lees of the charitsble company land also its directors for the purposes of c¢)rnpany lawl, you are reSponsie for the preparalitin of the ffinancial statements in accordance wilh the requlremenls ol the Companies A¢t 2006. Having sab"5fied myself Ihat the financial $talemenls of the charitable company are rtot required lo be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination. I report in respect of my examination of the charitable company's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have fdlowed the Directs"ons given by the Charity Commission under section 14515llb} of the Charibes Act 2011. Indgpendent examlnerf$ $trt•m•nt I have Completed my examinats"on. I confimi that no matters have come to my attention in connection wlth the examination glving me Cause lo believe that in any material respect ccounting records were not kept in respect of the charilalAe company as required by $ection 386 d the Companies Act 2005. the financial slalements do not accord th those records- or the financial statements do rKJI comply the accountiThJ requirements of section 396 of the Companies Act 2006 other than any requiremerrt that the financial statements give a true and fair view, which is nd a matter considered as part of an independent examinalion: or Ihe financial statements have not been prepared in accordance th the methods and principles of the statement of Recommended Piactice for a¢¢ounting and reporting by charities applicable lo charities preparing their financial statements in accordance with Ihe Financial Reporb"ng Standard applicable in the UK and Republic of Ireland (FRS 102). I have no other concerns and have come across no other matters in ¢onnection wth the examination to which attention should be drawn in Ihis report in order lo enable a pmper understanding of the financial slalements lo be reached. si d Bsc IHons} CA DipPFS 17Wal ergate Berwick-upon-Tweed Northumberland TD15 1DJ 11 July 2025
CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Current financlal year Unrestricted Unrestrlcted Restricted Endov•m•nt lunds funds funds funds g•n•ral d8slgnat¢d 2024 2024 Total Total 2024 2024 2024 2023 Motes Income and endowments from: Donations and legarAes CharitolAe activities Investments Other income 13.306 38.180 16,823 158.411 5.000 18.306 38.317 16,823 158,411 22.418 37.293 7,803 97,45 137 Total Incomo 226,720 137 5,fyJO 231,857 164.964 Expendlture on: Raising funds Charitable activities Olher expenditure 2,666 161,593 6,299 3.234 154,900 12.731 161.593 6.299 12 Total frxponditure 170.558 17D.558 170.865 Net gainslllo$se$) ¢)n investments 13 22.180 22.180 14.312 Nel Incomg $6.162 22.317 5.000 83.479 8.411 Net movemgnt in fund$ 56.162 22.317 5.000 83.479 8,411 R•¢on¢iliation of funds: Fund balances at 1 January 2024 277,046 285,166 180,731 345,178 1,086.121 1,079.710 Fund balanc98 at 31 DKemb&r 2024 333,208 307,483 185.731 345.178 1.171,600 1,088.121 The statement of finanoal activities includes all gains and losses regnISed in the year. All InMe and expenditure derive from continuing activities.
CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Prlor financial yèar Unrestrlcted Unrestricted funds funds general d•slgn•ted 2023 2023 Re5tri¢tgd EndDYffiiènt fund$ funds Total 2023 2023 2023 Note$ Income and fjndowments from: Donations and legacies Charitsble acb'vities Investments Other income 17.418 35.921 7.803 97,450 5,000 22.418 37.293 7.803 97,450 1.372 Totsl Income 158.592 1.372 5.000 164,964 Expendlture on: Raising funds Charitable ad'vities Other expenditure 2.484 154.900 12.731 750 3,234 154,900 12,731 12 Totsl •xpgndltur• 170.115 750 170,865 Nel gainslllossesl on investrnents 13 14.312 14,312 Nèt Incom81(expendltur•l (11.523) 15.684 4.250 8,411 Transfers bèiween funds (38.448) 38.448 Ngt movement in funds (49,9711 54.132 4.250 8,411 Rèconclllatlon of funds: Fund balances al 1 January 2023 327,017 231.034 176.481 345.178 1.079.710 Fund balanco9 at31 December 2023 277.046 285, 166 180,731 345.178 1,088,121
CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED BALANCE SHEET ASAT 31 DECEMBER 2024 2024 2023 Flxod assèts Tangible assets Investments 16 17 513,739 297.563 529,087 271,643 811,302 800,73 Current ass•ts Stocks Debtors Cash al bank and in hand 18 19 12.985 118.614 357.842 14.697 86,690 301,312 489.441 402,699 Credltors: amounts falllng within on• year 20 {f29.143) {115,3081 Not currènt assets 360.298 287,391 Totsl assets lè$$ currènt Ilahilities 1.171.600 1,088.121 fund$ of thfr ¢harlt¥l>l• Company Endolent funds Re51ricled income ftjnds Unrestricted funds- general Unre$tri¢ted fund$- designated 21 22 24 23 345,178 185.731 333.208 307.483 345,178 180,731 277,046 285,166 1.171.600 1,088,121 The Associats"on is entswed to the exemption from the audit requirement contained in secaion 477 of the Cornpanips Act 2006, for the year ended 31 De¢ember 2024. The directors ackno%edge their responsibilities for complying with the requ1mentS of the Companies Aet 2006 with respect to accounb'ng records and the preparation of finanoal statements. The members have not required the company lo obtain an audit ot it5 ffinarrial ststernenls for the year in question in a¢¢ordance with section 476. These financial slalemenls have been prepared in accordance with the provisions applicable to companies subject lo the Small companies regime. The financial slalements were approved by the Trustees on 1 July 20 Terence Pardoe S Truslog A MIAgrM (Chaiman} Loui5 Fell MRICS Trusts• Company registration number 00351689 {EThJland and Wajesl
CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charlty Informatlon Chillingham Wild Cattle AssocAalion Limited 15 a pnvate charilaNe company limited by guarantee incorporated in England and Wales. The registered office is The Warden's Coltage, Chillingham, Alnwick, NE66 5NP. None of the Trustees has any benefi¢k81 interest in Ihe A$slatI. All of the Trustees are member5 of the Association and guarantee to contribute £1 in the event of a winding up. 1.1 Accounting convenllon The financial statements have been prepared in accordance the charitable MpanY'S governing document, the Companies Act 2006. FRS 102 Vhe Financial Reporting Standard applicable in the UK atyl Republic of Ireland" I'FRS 102.1 and the Charities SORP 'Accounling and Reporting by Charities.. Staternenl of Recommended Practice applicable lo charities preparing their accounts In ac¢ordan¢e with the Fin3n¢i81 RerM)rting Standard applicable in the UK and Republic of IreL9nd IFRS 102)" {efiective 1 January 20191. The haritable company is a Public Benefft Entity as defined by FRS 102. The charitable company has tsken advantage of the provi$Tr$ in the SORP for Charities not to prepare a statement of Cash Flows. The financi stalernenls are prepared in sterling, vkntch 1$ tho furKtional currency ol the charitsble company. Monetary amounts in these financial slalements are rounded to the nearest £. The accounls have been prepared under the hi81oric81 $t Convention. modÈfied lo include the revduation cf certain financial instruments al fair value. The principal arxounting policies adI)pt are set out below. 1.2 Golng concern At the limè of approving the finarKial slalements. the Truslee$ have a reasonable pxpectslion Ihal the charltable company has adequate resources lo continue in operational existence for the foreseeable future. Thus the Truslees conbnue to adopl the gng concem basis of accounting in preparing the financaal slalements. 1.3 Charltsble funds Unrestricted lunds are available for use al the discretion of the Board of Trustees in furtherance of the general objective5 of the charity. Reslrided funds must be applieil in accordance wilh the specific purpose for which they were raised. The Costs of raising and administering such funds are charged against the fund. Where re$tri¢ted funds are endovmienl funds, these are separatdy identified in the a¢counl$. Designated funds comprise frjnds vthich have been sel aside 01 the digcretion of the TTuslees for Specific purposes. The purposes and uses of the desKJnated funds are set out in the notes to Ihe financial sialemenls. 1.4 Income Income is recognised when the charitabbe company is legalty entiued io it aftef any performance conditions have been met. the amounts can be measured reliabty, and it is probable that income wll be received. Cash donalions are regnISed on receipt. Other donations are recognised once the char41able MpanY has been notified of the donation. unles5 perfomiance condrtions require deferral of the amount. Income lax recoverable in relation to donations received under Gift or deeds of covenant is fecognised at the time of the donation.
CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcl (Continued) Leg8cies are rOgnIsed on reIpt or otheiSe rf the ¢harrtable company has been nolifie(l of an rnpending distribution, the amount is knovm. and receipt is expeded. If the amount is not known. the legaw is Irealed as a contingent asset. 1.S Expendlture Resourcès expended are allocated lo direcl charitable expenditure. costs of generating funds, or her expenditure and shown under appropriate headings. 1.6 Intanglble flxod a$$$ts othor than goodwlll Basic Payment entitlements 33.33% Straight Line 1.7 Tanglblè fixed assèts Tangiblè fixed assets are ini1181ty me8sured al cost and subsequently measured at cost or valuation. nel of depreryalion and any impaimenl losses. Depreciation is recognised so as lo vmite off the cost or v31uation of 8gsel$ less their resldual value$ over their useful lives on the folk)wing bases.. Chillingham Park Property Improvements Website IT Equipment Motor Vehides Plant and mathinery 10% Straighl Line 500hr25% Straight Line 25% Straighl Line 25% Reducing Balance 20% Straight Llr The gain or loss ari$ing on the disposal of an asset is detemine(l as Ihe difference bet¥en the sale proceeds and the carrying value of the asset. and is recognised in the statement of ffinancial activities. Tangible fixed assets are capitali8ed al Cost. wthere the Wrchase price exceeds £200. Fixed assets are used in direct frjrtherance of the charity's objects. The depreciation on property improvements is split beiween the revenue reseThe fvThJ and the lan Bennett Memorial fund, to match Ihe depreciation lo the ndIng used to prowde the asset. Fixed assets are reviewed by the Trustees for impaimRnt and WTitten down to Iheir recoverable value. Although Companies Act requirès annual depreciation of fixed assets. there is no provision in the financial Slalements for depreciation of Chillingham Park land and buildings. The buildings a maintained to a high standard lo prevent deterioration. The estimated redUal value of the buildings are, al cuNenl prices, not less than their book value. The trustees therefore believe that Ihe Wicy of not providing depreciation is necessary for the account$ to give a true and fair ew. 1.8 Fixed asset investmonts Fixed asset investments are inilialty measured at transaction kyice exduding transaction costs, and are subsequently measured al fair value al each reporting date. Changes in frdir value are recognised in net incomellexpenditurel for the year. Transaction costs are expensed as incurred.
CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcSoS (Continued) 1.9 Impairmént of fix•d ass•ts Al each reporting end date. the charitable company reviews the carrying amounts of its tangible and intsngible assets lo determine whelher there is any indi¢i¢m that those assels have suffered an impairment IcSS. If any such indication exists, the recOVerae amount of asset is eslimaled in order lo delemiine the extent of the impairrnenl loss lif any). 1.10 Stocks Stocks are slated 81 the kwer of cost and estimated selling less costs to complete and sell. Cost comprises direct materials and. where applicable. dwect labour costs those overheads Ihat have been incurred in bringing the stocks lo their present location and condition. Items hekl for distribution at no or norninal consideration are measured the lower of replacement cost and cost. Nel all$able value 1$ the eslimaled selling price less all estirnat costs of completion and Gosts lo be in¢urred in marketing, selling and distribub"on. 1.11 Cash and Cash èquivalents Cash and cash equivalents indude cash in hand. deposits held al call with banks. other short-lerm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdraft5 are shown within bcrfrowing$ in curfent liabilities. 1.12 Financlal Instruments The Charitable company has elected Ir) apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial inslnJmenls. Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party lo the contractual provIonS of Ihe instrument. Financial assets and liabilib'es are offset. with the nel amounts presented in the financial ststements, en there is a legally enforceable right to sel off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liabilrty simultaneously. Bask flnan¢lal assets Basi¢ finan¢ial a$s¢ls, indude deblors and ¢a$h and bank balances. are initialty measured at transaction pri¢e including transaction costs and are subsequently carried at amorti5ed cost using the effective interest method unless the arrangement constitutes a finanong Iransadion. where the transaction is measured at the present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised. Basic financialliabilities Basic financial liabil(ties. including creditors and bank loans are inrtialty recognised * transaction price unless the arrangement Gonstilules a financing transacb"or4. where the debl instrument 1$ MeaSud al the present value of the future payrnenls discounted at a market rate of interest. Financial liabilities classified as payable wfihin one year are not amortised. Debt inslrurnents are subsequenty carried al amorb$ed cost. using the effective interest rale method. Trade creditors are obligations lo pay for goods or services Ihat have been acquired in the ordinary eourse ol operations from suppliers. Amounts payable are dassified as ¢urrenl liabilities if payment is due wtthin one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al transaction price and subsequently measured at amoth.sed cost using Ihe effective interest method. Dorecognitlon of Ilnanclal Ilabllitles Financial liabilities are derecogni5ed en the charitable company'5 contractual obligats.ons expire or are discharged or cancelled. 10-
CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies IContinu•dl 1.13 Employee bgngflts The cost of any unused holhyay entitlement is recognised in the period In which the employee's seNices are received. Termination benefits are recognised Hnmediatety as an expense when Ihe charitable Company is demonstrably committed to temiinale the employment of an employee orto prov¥Je lemiinaOn benefits. 1.14 Taxatlon The company is a registered charity and has exemplion from U.K. direct tsxation. Aecordlngly there are no laxakn'on effects to be illustrated in respect ol gains. either fealtyed or unrealised, arising on investmpnts. Tax is redaimed on New Gift donations made by individua15, who sn the apprclpriate declaratn. The amount reclaimed is included wthin donations in incoming resources and disclosed sèparately in the notes to the finaneial stslements. Critical accountlng estlmates and judgements In the appli¢alion of the charitable company'$ accounting policies, the Trustees are reqUId to make judgements. eslimales and assumptions about the carrying amnI of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual eJIts may differ from these estimatès. The eslimales and undertying assumptions are eeWed on an ongoing basis. Revisions tg accounting eslimales are recogniged in the period in whKh the estimate is rewsed %there the revision affects cfflly that period. or in the period of the revision and fvlure peritxls %there the revision affects l)olh cuffent and future periods. Income from donatlons and l•gaclo8 Unrnstrlct•d R•strlct•d lunds fund5 2024 2024 Total Unrestricted Restrict•d funds fund$ 2023 2023 Totsl 2024 2023 Donallons and gifts Grants Membership fe&s 11.430 11.430 5,000 1.876 14.263 T4.3 5.000 3,155 5,000 5,000 1,876 3,155 13,306 5.000 18.306 17,418 5.000 22.418 Donations have been received from individuals. trusts and toundations during the year. 11
CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2024 Income from ¢harltabl• activitiès Charitabl• Charitablo actlvities actlvlfjès 2024 2023 Sale of goods Sale of merchandise Other income 30,446 6,718 1,153 29,533 6,472 1.288 38,317 37.293 Analysb by fund Unrestricted funds . genetal Unrestricted funds - designated 38,180 137 35.921 1,372 38.317 37.293 Incomè from In¥•$tm¥nts Unrèslrlctsd Unrestrictsd funds funds 2024 2023 Rental income Other income Interest receivable 250 6,297 10.276 250 5.436 2,117 16.823 7,803 Othor In¢omo Unrestrlcted Unrestrictèd fund$ funds 2024 2023 Forestry income Cgunlryside Stewardship Basic payment scheme 32.912 109.649 15.850 31.565 45.230 20,655 158.411 97,450 12-
CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 ExpondSture on rarsing funds Unrg$trlctsd Rostri¢t&d fund5 funds 2024 2024 Total UnrestrSctsd Rèstrlctèd funds funds 2023 2023 Total 2024 2023 Fundraising and publlclty Fundraising agents 750 750 Investment management 2.484 2,484 Total co$t$ 2.484 750 3,234 Expendlture on charltablg actl¥ltlo8 charItab Staff costsDapreclatlon activities 2024 Total 2024 2024 2024 txroct costs Staff costs Depreciatlon and impairment Professional fees ECC - Embryo colledion fees Motor expenses Goods for resale Work done Repairs and cleaning Insurance Printing, stslionery. postsge and telepholle Advertising and marketing General admini8tralion expense5 Bank ¢harge$ Ac¢ountancy Other charitable expenditure 48.443 48.443 17,226 7.177 833 2,759 6,188 23.619 34,084 6.252 1.914 2,655 2,126 1.110 5.192 2.015 17,226 7.177 833 2,759 6,188 23.619 34.084 6.252 1.914 2.655 2.126 1.110 5.192 2,015 95.924 48.443 17.226 161,593 Analysls by fund unr1r1¢ted fuTKls . general 95,924 48,443 17,22S 161,5g3 13-
CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expgndlturg on charftsble actlvltlos (Contlnuèdl Prevlous year: Charitable Slaff costsDeprgclallon a¢tivitlè$ 2023 Total 2023 2023 2023 Dlrect costs Stsff Costs Depreciation and irnpairment Professional fees ECC- Embryo Cdleclion fees Motor expenses Goods for resale Work done Repairs and cleaning Insurance Printing. stationery, postage and telephone Advertising and marketing General administration expenses Bank charges Accountancy Other charitsble expenditure 48,210 48,210 16,547 4,270 600 3,038 3,376 16,400 38,667 5,993 1,305 2,571 3,904 999 5,044 1,976 18.547 4.270 600 3.038 3.376 16.400 38.667 5.993 1,305 2.571 3,904 999 1,976 88.143 48,210 18,547 154,900 Analysls by fund Unrestricted funds - general 88.143 48,210 18,547 154,900 Met movement In fund$ 2024 2023 The net movemènt in funds is ststed after charging1(ed11ing)'. Fees payable fer the independent examinab.on ofthe tharity's finandal statements Depre¢ialion of owned tsngible fixeil assets 375 17.227 350 20.369 10 Trustee5 Funds of the Association have been used lo prow¢Je indemnity insurance to protect the charitsble company and ils Trustees against the ¢onsequen¢es of any neglect or defautt. The cost of the Fdicy was £447 for the year {2023-. £427). 14-
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Employo8s The average monthly number of employees during the year was-. 2024 Number 2023 Number Full time reduced winter hours) part.time (durin9 open season) Tot81 Employment costs 2024 2023 Wages and salaries 48,443 48,210 Thew were no employees 4yhose annual mUnerab.0n vras rn0 than £60.000. 12 other expenditure Unrestricted Unrestrlctsd funds funds 2024 2023 Timber extraction ctssts 6,299 12,731 13 Galns and 10ssg$ on Invgstmwnts Unrnstrlctsd Unrg$trl¢t¢d funds fund$ dlgnatsd deslgnated 2024 2023 Gainsl(lossesl arising on-. Revaluation of investments Sale ol investments 12.627 9,553 17.276 12.9641 22.180 14.312 14 Taxation The Charitsble company is exempt from lax on income and gains falling wthin section 505 of Ihe Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent thal these are applied lo ils charitable objects. 15-
CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Inlanglble flxed a$8ets Bas1¢ Paymont entitlom*nts Cost At 1 January 2024 and 31 0e¢ember2024 28,832 Amorti5ation and impairni•nt At 1 January 2024 and 31 December 2024 28,832 Carrying amount At 31 December 2024 Al 31 December 2023 16-
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CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 17 Fixed asset invostm•nts Unllst•d Investhi•nts Cash In portfolio Total Cost or valuation Al 1 January 2024 Additions Valuation changes Disposals 270.355 77,093 22.180 (75.852} 1,288 2,499 271,643 79.592 22.180 175,852) At 31 De¢ember 2024 293.776 3.787 297.563 Carrying amount Al 31 December 2024 293,776 3.787 297,563 At 31 December 2023 270.355 1.288 271,643 18 Stock$ 2024 2023 Items for re-sale 12,985 14.697 19 D•btor8 2024 2023 Amounts falllng due wlthln year: Trade debtor5 Other debtors Prepayments and accrued income 72 116,929 1,613 85,002 1,688 118,614 86,690 20 Credltors: amounts falllng due wlthln on• year 2024 2023 Oiher tsxalion and sooal securty Trad? creditors Violet Tankerville Charitable Trust Fund Loan Accruals and deferred income 6,420 2,897 1.900 12.926 3.142 18.031 91.300 2.835 129.143 115,308 18-
CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 Endow7nent funds Endowment funds represent assets whi¢h mu$1 be hdd pormanenlly by the charitable Company. Income arising on the endowment fiJnd$ Can be used in accordance th the objects of the thariiable company and is induded as unreslricled in¢ome. Any capitsl gains or bsses arising on the assets form part of the fund. At 1 January 2024 At31 Dgcgmb9r 2024 P•mianent ondowm•nts 345.178 345.178 Pr•vlous yur: At 1 January 2023 At31 D•¢embèr 2023 P¢mianent endovmients 345.178 345,178 The Park Purchase and Improvement Appeal Fund is a restricted endowment fund into which donations raised to purchase the park and finance fuiuffj improvements lo the parti are paid. 22 Restricted funds The income fvnds of the tharitable company include re$tri¢ted fiJnd$ comprising the followng unexpended balances of donations and grants held on Irust for specrfic purposes.. At 1 January 2024 Incoming R•$ourcg5 re$our¢es Oxpgnded At31 D8cembor 2024 Life Membership Fund Education and Staff Cos15 Fund Bandstand Fund 35.689 29.958 115,084 35.689 29.958 120,084 5,000 180.731 5.000 18S.731 19-
CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 22 Restrlcted funds (Contlnued) Pr•vious yèar: At 1 January 2023 IomIng r•sour¢fjs Rèsources expended At31 Dfrc¢mb8r 2023 Life Membership Fund Education and Staff Costs Fund 8andsland Fund 35.689 29.958 110.834 35.689 29,958 115.084 5.000 1750) 176.481 5,000 1750) 180.731 The Life Membership Fund is a restricted fund. inlo vlhlch subscriptions from life members are paid. The balance of this Fund therefore represents the aUMUted lrfe membersh) $ubsuiption$ that are available for application toward Charilable activities. The Education and Staff Costs Fund is a $trIcted fund, into Vthh donations raised to pay for future educational project costs and staff costs, are pawl. The Bandstand Fund 1$ a restricted fund. into whith donati$ raised to pay for the renovation of thè Bandsland. are paid. 23 Unrgstrlcted funds- designat The income funds ol the charitable company include the folltiwing designated funds which have been sèl aside out of unreStrted funds by the tru51ee$ for $pectfic purposes. These funds are material lo the charitable company's activities made up as follov45: At 1 January Incomlng 2024 resources Transfers Galns and 109$9S At31 Dtscèmber 2024 Chillingham Book Project Development Fund 13.523 271.643 137 13.660 293,823 22,180 285.166 137 22.180 307.483 Prèvlous year: At 1 January 2023 Incomlng Transfors Galns and losse$ At31 Oecember 2023 Chillingham Book Proied Development Fund 12.1S1 218.883 1,372 13,523 271.643 38,448 14,312 231.034 1.372 38,448 14.312 285.166
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 23 Unrestrict8d funds - deslgnatsd {ContInU) The Chillingham tKJ¢)k fund relates to the producbon of a book about Chillingham in Northumbwland. The development fund is a fund SpecifallY set aside for the development of the Park representing the value of investments held. The transfer CeNe from the unrestricted nd represerts the balance of ad(Jitions and disposals made lo the rtfOlIO during the year from the general reserve. The investment income from this fund 1$ lodged in the general fevenue reserve fund and used for the benefft of the Association. 24 Unrn5trlcted funds At 1 January 2024 Incomlng R•sour¢•$ resour¢oS •xpended Tran$f•rs At31 Oec8mb8r 2024 General l& lan Bennetl Revenue ReseNe 277.046 226,720 (170,5581 333,208 Provi0 yèar: At 1 January 2023 Inc¢)mlng Ro$ou*S resourcgs @xnd•d Tran$fors At31 Docambar 2023 General (& lan Bennell Revenue ReSee 327.017 158.592 (170.115) (38.448 277,046 The General l& lan Bennetl Unrestricted Revenue Reserve PreSents Ihe operating income and expenditure of the A550cialion. 25 Analy$l$ of ngt assets tWO•n funds Unr•strl¢ted Unrestrlct funds fvnds ggneral designatsd 2024 2024 Restrictèd Endomffnent funds fund$ Total 2024 2024 2024 At 31 Decembor 2024: Tangible a55ets Investments Current asselsllliabililies) 168.561 345.178 513,739 297,563 360.298 297.563 9,920 164.647 185.731 333.208 307.483 185.731 345.178 1,171.600 21
CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 25 Analysis of net a$$et$ bets¥è•n fund$ (Continued) UnrestrEet unrtrICted funds general deslgnatgd 2023 2023 Restrfcted Endowmerrt funds funds Total 2023 2023 2023 At 31 December 2023: Tangible assets Investments Currenl assetsllliabililieg) 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 1,088,121 26 Ralatad party transaction¥ There were no di$¢losable related paty transactions during the year. further to those concerning the charitable company's Trustees as detailed under note 912023: None).
CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED DETAILED INCOMEAND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Donation5 and legacles General donations Grants Subscriptions New Pavilion grant 5,970 5,460 1.876 5.000 5.263 9.000 3,155 5.000 18,306 22,418 Investment In¢omg Rent received Deposit account interest Inve$lmenl income 250 10,276 6.297 250 2,117 5,436 16.823 7,803 Incomlng rogourcè$ fr•)m charitable actlvltles Visitors fees Sale of leaflets, mug$ etc. Food and drink sales Book sates 30.309 6.718 1.153 137 28,161 6.472 1.288 1,372 38,317 37,293 other incomlng r•sour¢6s Forestry income Countryside Stewardship Basic payment scheme 32.912 109.649 15.850 31,565 45.230 20,655 158,411 97,450 Totsl Incomlng r•$¢urc¢$ 231.857 1 S4,964 Co$t$ of gonerating donations and legacies Fundraising agents 17501 Invè$tment management costs Inveglmenl portfolio managemenl co$t$ {2.666) 12,4841 Balan¢• Carriod Forward 229.191 161,730 -23-
CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED DETAILED INCOME AND EXPENDITURE ACCOUNT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Balance Brought Fonvard 229.191 161.730 Charltable acuvltles Animo1 husbandry Motor and travel expenses Goods lor resale Work done Repair$ and cleaning Insurance Prfnllng. stationery. postage and telephone Advertising General adminislralion expenses eank charges A¢countan¢y Rates Professlonal fees lunreslricledl 833 2,759 6.188 23.619 34.084 6.252 1.914 2.655 2.126 1.110 5.192 2,015 7.177 600 3,038 3.376 16,400 38,667 5.993 1.305 2,571 3,904 999 5.044 1,976 4.270 {95.9241 {88.1431 Stsff Costs Wages 148,4431 148.2101 Depreclollon IT equipment Motor vehicles Pfopety improvements Profitlllossl on disposal of fixed assets Plant and machinery depreaation 30 5.197 9.119 40 6,449 10.634 11,822} 3,246 2,880 117.226) 118,547) Othgr resources expendèd Timber exlraclion costs (6.2991 112,7311 N•t movemgnl on invèstments MF Revaluation of investmenlg MF Gain or105$ on sale of investments 12.627 9,553 17.276 12,9641 22.180 14,312 Surplu$ for tha Y•ar 83.479 8,411 .24-