Company règistration number 00351689 (England and Wales) Charlty reglstratlon number 221071 IEngland and Wales) CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2025
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Charfes Bain4mith RIBA CA Ichairrnanl Michael Hutchinsgn MA (Cantabl MRAC MFH IVicehaImanl Terence Pardoe SDA MIAgrM Chrls Mullin LIB Jirn Railton Bsc Sir Humphry Wakefield Bt. MA Icanlabl FRGS Prof. Stephen J.G. Hall MA PhD Loui5 Fell MRICS Frederick Bosanquet Lucy Riddell Hvgh Cheswright Luda Brldgeman (Appointed 17April 2026) Patron5 Lord Vinson DL LVO FRSA John Fletcher PhD BVM&S FRCVS Andrew W. Shepherd Bsc CAATII Sg¢retary GWA Cosec Ltd Charlty number 221071 Company number 00351689 Reglstered office Th8 Warden's Cottage Chillingham Alnwck NE66 5NP Independent examiner StLtart Faed Bsc (Honsl CA DipPFS 17 Walkergale Berwick-upon-Tweèd Northumberland TD15 1DJ Solicitors Mucklo LLP T*me Central 32 Gallowgale Newca5de-upon-Tyne NE14BF
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED CONTENTS Pag8 Trustèes. report Independent examln8rfs report Statement of financtal activlties Balance sheet Notes lo the financial statem8nts 9-23
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025 The Twstees present thèir annLtal report and financial statements for the y8ar 8nded 31 D8c8rnb8r 2025. The financial statements have been prepared in a)rdance with the accounting policies set out in note 1 to I financial ststemenls and comply with the charitable companls governing document. the Companies Act 20CkS, FRS 102 Vhe Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities SORP 'Accounting and Reporting by Charib'es.. Statement of Recommended Practi¢a applicablè to charities preparing their accounts in accordanc8 with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102).. Objectives and activities The charitsble company's principal objectives, as set out in its Memomndum of Association. is lo maintain. preseNe and impTove the herd of white cattle {commonly known as the"Chillingh8m Wild Cattle'l In their nalural surroundings in Ghillingham Park. Northumberland, and to keep and maintain the same in their indigenous conditions, and in parbcular maintain their purity of breeding free from any adMire of extraneous blood. The have been no changes in the objectives during the year. The Trustees have paid due rggard lo guidanca issued by the Charity Commission kn deciding what actNities the charitable company should undertake. Chalrnian's R8POrt lor the Year Endlng 31 December 202S The past year has b8?n one ol steady, well-managed progress across the Park. Dèspita a wét and windy wlnier. the herd catne through in reasonable condits'on, with mortality remaining within nomial expectations. Hay stocks were well handled, with feeding beginning al christmas and lasting comfortably to the end ol March. Spring conditbns quickly improved. allowing feeding to cease and the cattle to move onto fresh grass. with very few 1055es in February and March and ear calves doing well. Calvin9 was strong throughout the year, with 25 calves bom, all but one thriving, and only a handful of natur81 losses. The herd has therefore remained stable and in generally excellent condition. Wildlife rnanagement continued to be a significant focus. Earfy in the year, squirrel damage was noted in several woodland areas. gwing context to the intensive control effort that followed. By autumn, 67 grey squlrrels had been removed, supported by new LANTRA-approved training for Rick Waddinglon. Deer manag8rnent retnained active through()ut. wllh the cull progressing from Jantjary onwards and an updaied Deer Management Plan aged later in the year. Infrastructure and machinery challenges were addressed promply. Roadside ditches and Irao*s wsfy repalred early in Ihe season, and although th8 Land Rover lailed midsummer, il was subsequently repaired along wth the power-5teering syslem. Bracken control was notably successful. with crushed areas showing clear irnprovernent over tOPFed arè8S. Visitor engagement and education have continued to grow. Strong earfy-season tM)okings, monthly newsletters generatiThJ donations, and refroshed marketing materials set the tone for a successful year. Long walking tours. privaie visits and merchandise 811 perforrned well, while Ellie Waddinglon's initiatsve and the development of Wildling Woods and expanded children's outdoor learning programmes prtsved expIlon31lY popular. This year also saw the completion of a fvll vIeW of the Articles of the Association, culminating in the adoption of the revised Artlcles at the AGM a signifK8nt $lep in 6nsurlng our governance remains robust, clear and fit for purpose. On 31.12.2023 there are 118 cattle with 17 calves, 51 bulls and 50 cows and h8if8rs. On 31.12.2024 there are 124 catue with 23 ¢alves, 49 bulls and 52 cows and heifers. On 31.12.2025 the are 135 cattle with 24 calves, 58 bulls and 53 cows and helfers. My thanks go lo the Wardens, Ellie and Rick Waddington, Denene Crossley 8nd Park Manager Angus Collingwood-cameron for their commitrllent. as well as the Board of Trustees for their continued 5UPPOrt.
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT}(CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Finalty. I would Ilke to record our sincere thanks lo Teren Pardoe foi his dedicated Chairmanship over the past three years. His thoughtful leadership. commitrnent to ihe Association and support for the team have been greauy appreciated by all. The Association ends 2025 in a strong posltlon lo continue it5 vitsl work of protecting and interpreting Ihis uniqu? heid and landscapE. Herd numbers The total site of the herd at 31 December 2025 was 135 animals, as folows.. Calves 24 Bulls 58 Cows and helfers 53 Totsl 135 The R8sorv• Herd These anima15 are Crown property and their management is comp16ts1y separate from thal ot the Chillingham herd. On thÈir18St count the herd nurnber was al 32 animals. Membershlp On 18 June 2025 there were 438 members of tha Association. Publlc b•n•fJt The A5SOCi81ion will contintjè to b8 rnindful of the Public Benefit. The rnain benefit being th& rnainlenan of the unique herd of wild white cattle and the access of the public to thern. Flnanclal report This will be avai18ble al Ihe AGM and an electrrmic or postal copy will b& sent upon reque5L Invesimont powers The AssociatDn has the power to Invest in OT upon such itwestrnents, securil¢es or property as it rnay think fil. subject to the Truste8 Act 2000. FSnanclal rèvkw The financial results of the Associab¢)n are dgtsiled in the Statement of Fin8n(ial ActivilEs on page 6 and in notos to the accounts on pages 9 to 23. The Association had net assets of £1,278,992 as at 31 Dember 202512024. £1,171.6001 as detsiled by the Balance Sheet on page 8. and also in the notes to the accounts. The princlpal ftlnding sources and expenditure for ihe year under revlew 8ffj detailed on page 6 at)d in the notes to the aunts. This has support£d the key objeclNes describèd on page 1.
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT)(CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Re5erv•s The Trustees have reviewed the re5erve5 of the Association tn rslation to currènt and futurè requirements, and consider the levels held to be adequate to allow the Asso¢iats'on lo continue to rneet its charitable objectiv85. Risk revlew The Tnjstees have oJnlinued lo review the major risks to thg Asso¢iatlon and have established systems to mltlgale these. The main risks considered are disease in the cattle, fire and stom darnag8 and accident to m8mbers of staff. Specifically. the genetic resource represented by the herd is 81so protected by the maintenance of8 reserve herd. Structure. governance and management Th8 As50cialion is a registered company number 00351689 under the Companies Act 2006 and registered charity number 221071. It was incorporated on 11 April 1939 and is governed by its Mernorandum and Articles of Assoclation which wertr revised in 2004 and 8meTrJed by speclal resolution on 11 July 2025. Trustees Thè day to day running of the Assocration is ihe responsibility of the Board of Tru51ees. Tru51ees serye for tenns ol three years, their appointments being mad8 and ¢onfimd at the annual general meeting. On expiry of thelr respective temis they are eligible for releclion. Th8 Trustees. who are also the direclors for the purpose ofc4Jmpany law, and who served during the year were.. Chades Baln-smith RIBA CA IChairrnan} Michael Hutchinson MA Icantsbl MRAC MFH IVS¢e-chalmianl Terence Pardoe SDA MIAgrM Chris Mullin LIB Jirn Railton Bsc Sir Humphry Wakefield Bt. MA (Cantabl FRGS Prof. Stephen J.G. Hall MA PhD Louis Fell MRICS Frederick B058nquet Camilla Davtdson Lury Riddell Hugh Cheswright Lucia Bridgèman (Resigned 11 July 20251 (Appointed 17 April 20261 The appointment of new Trustees is on the recommendati of existing Trustèes. None of the Trustees has Bny beneficial interest in the Association. Al of the TTUStees are members of the Ass0¢iation and guaranleg lo ¢tsntributè £1 In the event of a winding up.
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT)(CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 statement of Tru5tees' responsibilities The Trustees, who are also the directors of Chlllingham Wild Cattle Assocl8tK)n Limited for the purpose of CtstNP8ny law, are responslble for preparing the Trustees. Report and the accounts in accordants with applicable law and United Kingdom Accounting Standards (United Kingdom GenerallyAccepted Accounting Practicel. Company law requires the Twstees lo prepare accounts for each finanaal year which give a true and fair vigw of the state of affairs of the charitable company and of the incoming resources and application of SOUrCes. including the Income and expenditure. of the tharitable company frjr that ygar. In preparing these accounts, the Trustees are required to.. - select suitable accountSng policies and then apply thetn consislentty- - observe the methcKls and principles in the Charities SORP,. - make judgernents and eslm8t&$ that are reasonable arKI prudent- stsle whether applicable UK Accounting Standards have been followed. subj?ct to any material departuros disclosed and explained in the accounts- and prepare the accounts on the going concern basis unless it is inappropriate lo presume that the th8Eitsble company will conbnue in operatiorL The Trustees are sponsible for keeping adequate a¢¢ounting iecords that disdose wrfh reasonable accuracy at any lime the financial position ol the charitable (xmpany and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets ol the charitable company and hen for taking reasonable steps foi th9 prevention and detection of fraud and other ir(egularib"es. Exemptions This report is prepared in accordance with the special provisi0r of Part 15 of the Companie5Act 2006 relating to srnall companies. The Tru51ees' r ort was approved by the Board ol Trustaès. Charles Baln4mlth RIBA CA (Cha1rnn} Trustee Dated.. 10 July 2026
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED I report to the Trustees on my examlnadon of the financial statements of ChillirKJham Wild Cattlè Association Limited Ith8 charitable cornpany} for the year ended 31 December 2025. Responslbllltl•s and basss of report As the Truslees of Ihe charitable company land also its direclors for the purpos8s of company lawl, you arè responsible for the preparation of the financi81 statements in acccidance wth the requirements of the Companies Act 2006. Having satisfied rnyself thèt the financial statements of the charitable comp8ny s not qUired to be audited under Part 16 of the Companies AGt 2006 and are eligible for independent examination, I report in rÉspect ol my examination of the charitable company's financial staternents carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Oirections given by the Charity Commission under sectSon 14515llbl of the Chariti8sAct 2011. Indepèndent examlner's statement Since the charitable ¢ompanls gross Income exceeded £250,000, the indeperKl8nt examiner must be a member of a body listed in section 145 of th6 Charibes Acl 2011. 1 confirm that l am qualified to undertak8 the èxamination because l am a mernber of The Institute of Chartered Accountants of Scotland, which is one of the listed tmxlies. I have COFnpléted my examination. I confirm Ihal no m8iters have come to my attention in connection with the examination giving me cause to believe that in any material respgct.. accounting records wer8 not kept in respect of the charitable company as raquirad by section 386 of the CompaniesAcl 2006. the financial statèmènts do not accord with those records,. or Ihtr financial statements do not comply wilh thè accounting requirements of sectic*n 396 of the Cornpanies Act 2006 other than any requirement thal the financial slaiements give a true and fair view. which is not a rnatter considèred as part ol an independent examinat., or the financial statements have not been prepared in accordance with the methods and principle5 of the Slalemenl of Recommended Practice for acix)untiThy and reporting by charities applicable to charities preparing their financial statements in aCCordare with th8 Finanelal Reporung Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no other concerns and have eome acmss no other matters in connection with the exatnin8tiorn to whlch attention should bè drawn in this report in order to enable 8 prop8r undèrstandino of the financial slalemenis lo be rèached. tuart Walk Be -upon-Tweed Northumbèdand TD15 1DJ 10 July 2026 Bsc onsl CA DipPFS
CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Current rinanclal year Unrestricted Unrestrlcted Restrieted Endowment funds funds funds funds general designated 2025 2025 Total Total 2025 2025 202S 2024 Notes Income and endowments Irom= Donations and legacies Charitable actiwttes Investments Other Income 34.976 44,029 17,213 160.773 5,000 39.976 47.065 17.233 160.773 18,3C 38.317 16,823 158,411 3,036 Tolal income 256.991 3,036 5,000 265,027 231,857 Expenditure on: Raising funds Charitable activities other exp8nditure 3.191 158,737 22,795 274 3.465 158.737 22.795 2.666 161.S93 6,299 12 Total expendlture 184,723 274 184,997 170.558 Nel gainslllossesl on investments 13 27,362 27,362 22.180 Net income 72,268 30.398 4,726 107.392 83,479 Transfers beeen funds 158.1721 56,172 Net movement In funds 14.096 88.570 4.726 107,392 83.479 Reeonclllatlon ot fund5: Fund balances at 1 January 202S 333,208 307.483 185.731 345.178 1,171.61XI 1,088,121 Fund balances at 31 Dècember 202S 347,304 396,053 190.457 345,178 1,278,992 1,171.600 The statement of financial actiwti8s includes all gains and losses recognlsad in thg year. Al income and expenditure derive from continuing activities.
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Prlor flnanclal year Unrestricted Unre5tricled funds funds general deslgnated 2024 2024 Restri¢tsd End?wment funds funds Total 2024 2024 2024 Notgs Income and endowments frgm-. Donations and legacies Charitable activitie5 Investments Other income 13,306 38,180 16,823 158,411 s,000 18,306 38,317 16,823 158,411 137 Total ineome 226.720 137 5,000 231,857 Expenditure on: Raising funds Charitable activities Other expenditure 2.666 161,593 6.299 2,666 161,593 6.299 12 Total expenditure 170,558 170,558 Net gainslllossesl on Investments 13 22,180 22,180 N8t irtcome and movement in funds 56,162 22.337 5,000 83.479 Reconciliation of fund5= Fund balances at 1 January 2024 277.046 285.166 180.731 345,178 1.088.121 Fund balane•s at 31 Dècembèr 2024 333.208 307.483 185.731 345,178 1.171.e
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED BALANCE SHEET AS A T 31 DECEMBER 2025 2025 2024 Notes Fixed assets Tangible assets Investments 16 17 502,698 379,357 513.739 297,563 882.055 811.302 Current 8$sets Stocks Debtors Cash at bank and in hand 18 19 16,057 139.146 364,978 12.985 118.614 357.842 520.181 489.441 Credltors: amounts falling due wlthln one year (123,2441 {129.1431 Net Current assets 3,937 360,298 Total assets less current liabllltles 1,278,992 1,171.600 The funds of the charltabla eompany En(lowment fun(ts Restricted income lunds Unrestricted fvnds- general Unrestricted funds- designated 22 23 25 24 345,178 190,457 347,304 396,053 34S.178 185.731 333,208 307,483 1,278,992 1,171,800 The Association is entitled to the eKemptK)n from the audit requirement contained in section 477 of the Companles Act 2006, for the ar ended 31 December 2025. The directors acknowledge their iesponsibilities for complying with the requirements of the Companies Act 20C with resped to accounting records ar the preparation of finandal statements. The members have not requlr8¢J thg company lo obtain an audit of ils financial statements for the year in queslv)n accordance with section 476. These finandal statèments have been prepared In accordance YAth the pr0vls1cS appli¢8ble lo rx)mpanie5 SLtblect to the small companies regirne. The financial st8ternents were approved by the Trustees 10 July 2026 Chadès Baln-smilh RIBA CA (Chairman) Trusteo Louis Fell MRICS Trustee
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting pollcles Charity inforniation Chillingham Wild Cattle Association Limited is a privaie ¢haritsble company limited by guararbte8 ineorporated in England 8nd Wales. The registered offke is The Warden's Cottage. Chillingham. Anwick. NE66 5NP. None of the Trustees has any beneficial interest in the Assoaation. All of the Trustees are members of the Assoclation and guarantee to contribute £1 in the event of a winding UP. 1.1 A¢¢ounting convention The financial statements have been prepared in arxord8nce with the Charitable companvs goveming document, the Gornp8nies Act 2006, FRS 102 'The Flnancial Reporting Standard applicable in the UK and Republic of Ireland" and the Chariti8s SORP 'Accounting and Reporting by Charities- Statement of Recommended Practice aPIcable to charities weporing their Bccounts in accordance with the Financial Rèporting Standard applicable in the UK and Republic of Ireland IFRS 1021.. Th8 charliabt& company is a Public Benefit Entity as defined by FRS 102. The charitsble company ha5 takèn advantsge of the prowsh)ns in the SORP for charities not to prepare a statement ol cash flows. The financial statements aro prepared in sterting. which is the functional currency of the charitsble company. Monetary amounts in 858 financial statements are rounded to the nearest £. The accounts have been prepared under the h151orical ¢ost convention, modified to include the revaluation of cèrtain financial instruments at fair value. The pmcipal accounting policies adopted are set out below. 1.2 Going concern At the time of approving Ihe financial slatemenls, the Trustees have a Teasonable expectation that the chaiitable company has adequate resources to continue in oper8bonal $xistence for the foreseeable future. Thus th& Trustèès continue to adopt ihe going concern basis of 8cc<)unting in preparing th8 financial statements. 1.3 Charltable funds Unrestricted funds arè availabla for usè at the diScreOn of the Board of Tfuslees in furtherance of the general objectives ofthe charity. Restricted funds must be applied in ac(rdan with the specffic purpose for which they were raised. The costs of ralslng and administering such funds are charged agai1 Ihg fund. Where restred funds are endowment fund5, these ar8 separately identified in the accounts. DesSgnated funds comprise fvnds which have been set asidè 8t the discretion of the Trustees for speufic puooses. The purposes and uses of the designated fuThYs are sel out in the notes trj the finandal statements. 1.4 Incomè Income is recognised when the charitsble cotllpany És legally entitled to it after any Performan conditions have been met, the amounts can be measured reliably, and it is probable Ihat income will be received. Cash donati¢ns are recognlsèd on Ce[Pl. Other donations are recogni5ed once the charitable company has been notified of the donation. unless performance conditions require deferral of the amounl. Income tax recoverable in relation to donations T8¢8iveil undar Grfi Ald or deeds of covenant is recognised al the time of the donation.
CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies IContlnu8d) Legacies are recognised on receipt or otherwise if the charitable company has been notifièd of an impending distribution, the amount is kn¢)wn, and recelpt Is expected. If the amount is not known, the legacy is tre8ted as a contingent asset. 1.5 Expèndliure ReSoUrS expended are aljocated to dlrect ¢haritsble expenditure. costs of generating funds, or other expenditure and shown under approprlatè heading5. 1.6 Intanglble flx•d as$gts other than goodwlll Basic Payment entitlements 33.33% Straight Line 1.7 Tangible fixed assets Tangible fixed assets arg inthalty measured at ¢ost and subsequently measured Bt Cost or valualKJn, net of depreciation and any impairment losses. Depreciation is reccKJnis•d so as to write off the cost or valuation of a55ets less thelr residu81 values over their Usef lives on the ftsllowing bases: Chillingham Park Property Improvements Websiie IT Equiptnenl Motor Vehides Plant and mac*inery 10% Straighl Llne 50%125Q/o Straight Line 25% Straight Line 25% Reducing Balance 20% Straight Line The gain or loss arfsing on the disposal of an asset is detemined as the difference behyeen the salè pro¢eeiJs and the carrying v81uè of the asset, and is recognlsed in the ststernenl of financial aciivlties. Tangible fLKed assets are eapitalised at $t, where Ihe purchase price exceeds £200. Fixed assets ar8 Ustd in direct f¢Jrtherance of thg charity's objects. The dewecl8tlon on property improvements is splil between the revenue reserve fund and the lan Bemett Mèmorial fund. to match Ihe depreciation lo the lunding used to provide the asset. Fixed assets are revted by the Trustees for impalmient and written down to their recoverable value. Although Companies Act requires annual depreciation of fixed assets. there is no prowsion in lh8 financial statements for depreciation of Chillingham Park land and buildings. The buildings are maintsined to a high standard to prevent deterioratn. The estimated residual value of the buildings are. 81 current prices, not less than their book value. The trustees therefore believe that the policy ol not providing depreaation is nece558ry for the accounts to give a true and fair view. 1.8 Fixed asset Investmants Fixed gssgt investments are InIallY measurecl al transaction price excludiw transaction costs. and are subseqtJenUy measured at fair valuè 8t gach reporting date. Changès in fair value are recoJnlsed In net incomellexpenditurel for the year. Transaction costs are expensed as incurral. 10.
CHILLINGHAM WILD CArrLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Ac¢ountlng pollcles IContlnu8dl 1.9 Impairment of fixed assets At each reporting end date, the charitable company reviews the carrying 8mounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impaitment loss. 51 any such indi¢8tion exists. thè r8coverat*le amunl of the asset is estimaied in order to determine the exlenl of thg irnpairrnenl loss lif 8nyl- 1.10 Stocks Stocks are stated al the lower of cost and trstimated selllThJ price less costs to cOrnpte and sdl. Cost comprises direct rnalerials and, wh8re applicable, direct labour costs and those overheads Ihat have been incurred in bringing the stod(s to their present location and condfition. Items held for distributK)n at no or nomknal consSderatksn are measured the lower of Teplacernenl cost and cost. Nel realisable value is the estimaied selling price less all e5timatsd costs of cOmpl10n and costs to be incurred in marketing, selling and distribution. 1.11 Cash and cash equivalents Cash and cash equivalents includè ¢8sh In hand, deposits held at call with bank5, other Short-le liquid Investments with original rnaturilies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.12 Financial Instruments The charitable MpanY has elected to apply the provisions tsf Section 11 'Basic Financial Instruments, and Section 12 '01her Financial Instrumenis Issues, of FRS 102 to all of its finanaal instruments. Financial instruments ar8 rècognised in the charitable company's balance et when the charitable mp¥nY becomes paty lo the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements. when there 1$ 818gally enforceable right to set off the recognised amounts and there is an intention to $9tt19 on a nèt basis or to realise th& asset and setuè thè liability simultaneously. Baslo Ilnanclalassets Basic financial assets. whi¢h indude debtors and cash and bank balances, are inilkglty measured at transaction price including transaction ¢05ts gnd ar8 sUbSUentIY carried at amortised cost using the effective interest method unless the arrangernenl conslilules a finanong transaction. where the transaction is measured at th¢ psent value of the ftÈture ceIptS discounted al a market rate of intere51. Financial assets dassified a5 receivable within one ye8r are not amortised. Baslc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans are InallY recognised al transaction price unless the arrangement constitutes a finanang transaction, where the debt instrument is measured at the present value of the luture payments discounted at a market rate ol interest. Fin8nual liabilities dassified as payable within onè year are not amortised. Debt instruments are subsequenlty carried al amorttsed cost, uslng the effective interest rale rnelhod. Trade creditors are obltgations to pay fr>r g¢)ods or servIS that have been acquired in the ordinary course of operations from suppliers. Amounts payablè are dassified as current liabilities if payrrEnl is due within one year or less. If not, they are presented as non-current liabilities. Trade crediiors are recognised initially at transaction pri and subsequently measured at amortised cost using the effective Interest rrEthod. Derecognition of )¥naneNal liabfflities Financial liabilities are derecognised vthen the charitable cnpanY'S contractual obligaon$ explre or are disch8rged or cancelled. 11
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Aecountlng policles (Continued} 1.13 Employee beneflts The cost of any unused honday entitlement is recwnlsed in the period in which the employee's seNces are ceived. Terminalion benefits are reo)gnlsed hnmediately a3 an expense when the charitable company i¥ demonstr8bly committed to terminate the employment of an employee or to provide t8rrnin8lion benefits. 1.14 Rettrement benefits Payments to defined contribution retirement beneffll schemes a charged as an expense as they fall due. 1.15 Taxation The company is a registered charity and has exemption from U.K. direct tsxalion. Accordingly there gre no taxation èffects lo be illustrated in respect of gains. either r¢8lised or unrealised. arfslng on Investments. Tax is reclaimed on New Gift Aid donations made by individuals. who sign the èppropriale declaration. The amount reclaimed is included within donations in incoming resources and disek)sed separately in the notes to the financial statements. Crltical accounting estimates and judgements In the application of the charitsble company's aceounting lIcIes, the Trustees are required to make judgements. estimates and assumptions about thè carrwng amounl of assets and liabilities that are not Teadily apparent from other sources. The estimates and 8550cialed assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ fiom these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are COgniSed in the Pe0d in which the estimate is revised where the revision affects only that period, or in the period of the revision and future perlods where the revision affects both current and future periods. Income from donations and legacles Unrestrfctèd Rgstrlcted funds funds 2025 2025 Total Unrè$tri¢ted Restrlcted funds funds 2024 2024 Totsl 2025 2024 Donations and gilts Grants Membership fees 30.009 30,009 5,OCQ 4.967 11,430 11,430 5.000 1,876 s.000 5.OCX) 4,967 1,876 34,976 5.000 39,976 13.3( 5.000 18.306 Donations have been recelved from individuals. trusts and foundations during the year. 12-
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Income from charitable actlvltles Charltable Charitable actlvitles activities 2025 2024 Sale of goods Sale of rnerchandiso Other incorlle 37.630 8.671 764 30.446 6,718 1,153 47.065 38,317 Analysls by fund Uorestricted funds- general Unrestricted funds- designated 44.029 3,036 38.180 137 47.065 38,317 Income from investments Unrestricted Unrestri¢led fund5 funds 2025 2024 Rentsl incorne other income Interest re1vable 250 7,622 9.341 250 6.297 10.276 17,213 16,823 Other 5neom• Unrostrlcted Unrestrlcted funds funds 2025 2024 For8Stry income Other income Countryside StewardshSp Basic payment scheme 17.140 24 136.409 7,200 32,912 109,649 15.850 160,773 158.411 13
CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Expgnditure on ralslng fund5 Unrestricted Restricted lunds funds 2025 2025 Total Unrestrlcted Restrlcted funds funds 2024 2024 Total 2025 2024 Fundraislng and publicity Fundraising agents 274 274 Investment management 3.191 3.191 2.666 2.666 Total o)sts 3,191 274 3.465 2.666 2,666 Expendlture on charitable actlvltiès Charltabl? Staff costsDepr•clation activities Total 202S 2025 2025 2025 Oirect costs Staff costs DepatIon and impalrment Professional fees ECC- Embryo collectlon fees Motor expenses Goods for resale Work done Repairs and cleaThng Insurance Printing, stationèry, postage and telepho AdrSing and markeung General administration expenses Bank charges AccLsuntancy Other charltable expenditure 55,822 55.822 12,648 3.500 4,554 5.886 7,158 20.998 24.666 5.714 3.702 3.282 2.688 1.398 4,798 1.923 12.648 3.500 4,554 5.886 7,158 20,998 24,666 5,714 3.702 3.282 2.688 1.398 4,798 1.923 SYJ.267 55,822 12.648 156.737 Analy515 by fund Unrestrtcted fvnds- general 90,267 55,822 12,648 158,737 14-
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Expenditure on charltable actlvltles Icontlnuedl Prevlous year.. Charitable Stsff c05t5D8preeiation activities 2024 Total 2024 2024 2024 Dlrect costs staff costs Depreciatlon and impairment Professional fees ECC - Ernbryo collecbon fees Motor expenses Goods for resale Work done Repairs aThJ deaning Insurance Printing. st8tionery, postage Bnd telephone Advertising and marketing General administration expense5 Bank charge5 Accountancy Other charitable expgndsturè 48.444 48,444 17,226 7,177 833 2,759 6,188 23,619 17.226 7.177 833 2.7S9 6,188 23,619 34,084 6.252 1,914 2.655 2.125 1,110 S,192 2.015 6,2S2 1,914 2,655 2,125 1.110 5,192 2,015 95.923 48.444 17.226 161,593 Analysis by fund Unreslricled funds- general 9S,923 48.444 17,226 161,593 Net movem•nt In funds 2025 2024 Th8 nel mt)vement in funds is stated after chargingllcreditingl.. Fees payable for the indepèrKlent examlnatlon of the charity's financial statemenis Depreciation of owned tsnglble fixed assets 375 12,648 375 17.227 10 Trustees Funds of the Association have been used to provide indemnity Insuran to protect the charitable company nd its Trustees against the consequences of any neglect or detsull. The cost of the policy was £469 for the year12024.' £4471. 15.
CHILLINGHAM WILD CAThLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 11 Employees The average monthly number of employee5 during the year was.. 2025 Number 2024 Number Full time Iwth reduced winter hwrsl Part-tim& (during open sèason) Total Employment costs 202S 2024 Wages and salarles Other pension cos15 54,871 951 47.660 55,822 48.444 There were no employees whose annu81 remUneraOn was morg than £60.000. 12 Other expenditure Unrestricted Unrestricted funds funds 2025 2024 Timber extraction costs 22,795 .299 13 Gains and losses on investmgnts Unrestricted Unrostri¢led funds funds deslgnat•d d85ignaled 2025 2024 Gainslllossesl arising on: Revaluation of investments Sale of invastments 21.733 S.629 12.627 9.553 27.362 22.180 14 Taxatlon The charitable wmpany is exempt from tax on income and galns falling wlhin section $05 of Ih& T8xes Act 1988 or section 252 of the Taxatlon of Chargeable Gains Act 1992 to Ihe extent that these 8re applied to its charitabl8 obiects. 16-
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 15 Intanglble fixed assets aslc Paymqnt $ntltlemonts Cost At 1 January 2025 and 31 December 2025 28,832 Amortisation and impalrment At 1 January 2025 and 31 Dember 2025 28,832 Carrying amount At 31 Decemb8r 2025 At 31 Dember 2024 17-
000 0# to rf40
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 17 Flxod asset Investh)ents Unlisted Investments Cash In portfollo Total Cost or valuation At 1 January 2025 Addibons Valuation thanges 293.776 99,453 117.7821 3.787 123 297,563 99,576 117,7821 At 31 Oecember 2025 375,447 3.910 379,357 8rrylng amount At 31 December 2025 375.447 3.910 379.357 At 31 December 2024 293,776 3.787 297.563 18 Stoeks 2025 2024 Items for re•sale 16,057 12,985 19 Debtors 2025 2024 Amounts falllng due wlthln onè yèar: Trade debtors Other debto Prepayments and accrued incnme 72 116.929 1.613 138.835 311 139.146 118,614 20 Credltors: amounts falling duè wlthlrt on• yèar 2025 2024 Other taxation and social security Trade creditors Violet Tarkk$rville Charil8bl& Trust Fund Loan Accruals and deferred income 1.817 10,707 106.900 3,820 6.420 2,897 106,900 12,926 123.244 129,143 19-
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 21 Retlrement b8n¢fit schemes 2025 21)24 D¥fin¥d contrlbutlon schemes Charge to profit or l¢)ss in respect of defin8d o)nlribulion schem8s 9S1 The charitable company operales a defingd contribJtN)n PeOn s¢herrE for all qualifying employees. The assets of the Scheme are hel¢J separately from those of th& charitable company in an Independentty admlnistefed fund. 22 Endowment funds Endowment funds represent assets whlch musl be held permanently by the charitable company. Income arising on the endowment funds can be used in accordance with the objects of the charitable company and 1$ inelud8d as unrestricted incomè. Any capital gains or thses arising on the assets fom) part of Ihe fund. At 1 January 2025 At31 December 2025 Pemianent endowm8nts 345,178 345.178 Prevlous year: At 1 January 2024 At31 Decèmbar 2024 Pemianent endovmients 34S.178 345,178 The P8Tk PuTcha5e and lrnprovement Appeal Fund Is a restricted endowment fund into whtch donations raised to purchase the park and finance hjture improvements lo the park are pald.
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 23 Restrlcted funds The incorne tunds of the charitable company indude restricted fijnds comprising the following unexpended balances ol donations and grants held on trust for specific purp05es.' At l January 2025 Incomlng resources Re50ur¢es expended At31 Decernber 2025 Life Membership Fund Education and Stsff Costs Fund Bandstand Fund 35.689 29.958 120,084 35,689 29,958 124.810 S.WO 12741 185.731 5.000 12741 190,457 Prevlous year: At 1 January 2024 Incoming resoLtre•s ReBour¢es •xp•nd•d At31 December 2024 Life Membership Fund Education and Staff Costs Fund Bandstand Fund 35.689 29,958 115.084 35.689 29.958 120.084 5,000 180,731 5,000 185,731 The Life Membership Fund is a restTrcted fund, into which subscriptions from life members are paid. The balance o)f this Fund therefore represenis the accumulated lif8 membership subscriptions thal are available for application tOW8rd charitable acbvilies. The Education and Staff Costs Fund is a restrictad fund. into which donations raed lo pay for fvture educational project costs and staff costs, are paid. The Bandstand Fund is 3 restricted fund. Into which dijnations raised to pay for the rerVatiOn of the Bandstand. are paid. 21
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 24 UnrestrScted funds - deslgnated Thè IncotT funds ol the ¢h8ritable company indude the following dèsignated funds which have been sèt aside out of unrestrictad funds by the trustees ft)r specific purposes. These luTrJs are Materi to the charitsble cornpanls actwities made up as folltsws= At 1 January 2025 Incomlng resources Transfers Gain5 and losses At31 Oecemb•r 2025 Chillingham Book Project D¢vèloprnent Fund 13.660 293,823 3,038 16.696 379,357 58.172 27,362 307,483 3.036 58.172 27,362 396.053 Previous year: At 1 January 2024 Incomlng reSOu9S Transfers Gains and losses At31 December 2024 Chillingham Book Project Development Fttnd 13.523 271,643 137 13.660 293.823 22.180 285,166 137 22,180 307,483 The Chilllngham book fund relates to the prluCtion of a book about Chillingham in Northumbèrtand. The development fund is a fund Specifically set aside for thè develcpment of the Park rèprèsenting the value ol Investments held. The transfèr ceIVed from the Un$t[I¢ted fund rePSentS the balance of additions atyj disp0581s rnade to the portfolio dijring the year from Ihg general reserve. The Investment incorne from this fund is h)dged in the general revenue reseNe fund and used for the benefit of the Association. 25 Unrestricted funds At 1 January 2025 Incoming resources Resources ¥xpended Transfers At31 Dècèmber 2025 General {& lan Bennell Rovgnue Reserve General funds 333.208 256,991 1197.448} 12.725 158,1721 334,579 12,725 333,208 2S6.991 1184,7231 {58.1721 347.304
CHILLINGHAM WILD CATTLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 25 Unrestrlcted fund5 IContinu8dl Previous year: At 1 January 2024 Incoming resources Resources expended Transfers At31 December 2024 General l& lan Benn&t} Revenue Reserve 277,046 226,720 {170,5581 333,208 The General l& lan Bennetl Unreslricled Revenue Reserve represents the operab'ng inc4Jme and expenditure of the Association. 26 AnalysEs of net asset5 between funds Unr8strletèd Unr•strlcted funds funds general designated 2025 2025 Restricted Endowment funds funds Total 2025 2025 2025 At 31 December 2025: Tangible assets Inveslrnents Current asselsllliabilitiesl 1S7.S20 345,178 $02,698 379,357 396,937 379,357 16,696 189,784 190.457 347.304 396,053 190.457 345.178 1.278,992 Unrestrlrted Unrestrletèd funds funds general designated 2024 2024 Restrlcted Endowment funds funds Total 2024 2024 2024 At 31 D8c8mbèr 2024: Tangible assets Investments CuThenl assetsllliabillties) 168,561 345,178 513,739 297.S63 360.298 297,563 9,920 164.647 185.731 333.208 307,483 185,731 345,178 1,171,fA)O 27 Related party transactlons There were no disdosable related party Ir8nsa¢tions durlng the year, fjJrtheT to those conMing Ihe charitable company's Trustees as detailed under note 1012024= None). 23-