Charity registration number 222014
Company reglstratlon nUM￿r 1017832 (England and Walasl
THE WELSH PONY AND COB SOCIETY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE WELSH PONY AND COB SOCIETY
CONTENTS
Page
Trustees report
Independent examiner's report
Statement of financial activities
10
Balance sheet
Stslemenl of cash flows
13
Notes lo the financial slalemenls
14-33

THE WELSH PONY AND COB SOCIETY
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordan￿ with thè accounting policies set out in the notes to the
financial statements and comply with the charity's governing document, the Companies Act 2006 and 'Accounting
and Reporting by Charities.. Statement of Recommended practi￿ applicable to charities preparing their accounts in
accordance with Ihe Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective
1 January 20191..
Oble¢tlves and a¢tlvltles
The objectives of the Society are to encourage the breeding, improvement and integrity of the Welsh Breeds of
horses and ponies., advance public education of management of the Welsh Breeds., to prevent cruelty to horses and
ponies,. to provide and assist in provision for public benefit, facilities for recreation and other leisure time through use
of horses but confined lo facilities provided in the interests of social welfare. In order to further these aims the
Society undertakes a number of core activities.
The Society is obliged lo compile and publish stud books of registered pure and part-bred Welsh Ponies and Cobs,
which is done on a regular basis. In recent years, this has been combined with its role as a Passport Issuing
Organisalion IPIOI and registration of equines is through ils comprehensive registration processes.
Information and assistan￿ are provided lo members and noTrmembers in person, via telephone, email, and the
website. In addition, members receive an annual Journal and two newslellers per year. The Society aLs0 publishes
literature on the Welsh Breed and provides a website that is accessible lo members and noTrmembers with an
active Fa￿book page.
The Society has a programme of grants lo provide direct financial assistance lo members of other voluntary groups
working with similar objectives. 11 also administers a bursary scheme for young individuals pursuing qualifications
within the equine wodd. The awards are fomally ￿vieWed annually by Council to ensure that il continues to meet
those needs.
The Society also has an equine welfare advi￿ and guidance scheme in pl8¢e.
The aims of the ¢harily are detsiled below..
To encoLJrage the breeding and improvement of horses and ponies more especially those of the Welsh Breeds.
To advance public educalion in all districts and counlies in the varioLJS arts and sciences connected with the use
and management of horses and ponies in general and in particular of the Welsh Mountain Pony, the Welsh
Pony, the Welsh Pony Icob Type) and the Welsh Cob and Iheir Part-breds.
To provide or assist in Ihe provision for the public benefit, of facilities for recreation or othu leisure time
occupalion, through the use of horses and ponies, but confined to facilities provided in the interests of social
welfare.
To prevent cruelty to and promote the welfare of horses and ponies.
The charity's strategies for achieving its slated aims and objectives is to..
Ensure workforce development and slruclured line management is in place.
Ensure trustees undergo regular appraisals and development plans are pul in place.
Ensure work-plans for Counul and Standing Committees are in pla￿.

THE WELSH PONY AND COB SOCIETY
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The charity measures its success in the reporting period using a number of assessments such as..
Ensuring that the officer reports lo Council and the Standing Committees on a regular basis.
Reports from working groups and delegates are produced and reviewed.
Quality assurance techniques of random sampling and benchmarking.
Comparing evidence-based achievements against work plans.
Consultstions with Iruslees, staff, volunteers and members.
Logging, analysis and reporting of corllments and feedback.
The Iruslees have considered the Charity Commission's guidance on public benefit, including the guidance 'public
benefit.. running a charity IPB21'when reviewing our aims and objectives and in planning our future adivities.
Trustees were provided with copies of the revised publications relating lo public benefit. Trustees consider how
planned activities will contribute to the aims and objectives they have set.
Public benefits applicable lo the charity's a¢livilies include-
the advancement of education through the provision of Educational Visits to colleges.
the award of edLJ¢ational bursaries and the production of infomiation and PLJbli¢ations on the Welsh breeds.
the advancement of the arts, culture, heritsge or s¢ien¢e through the preservation and promotion of the semi-
feral hill ponies and the Welsh breeds in general, these being an important part of the heritage of Wales.
the advancement of amateur sport through the establishment of medal and rosette schemes, SLJPPOrt of young
handler competitions, performance shows and awards, Ihe provision of judges panels. and young judges,
competitions.
the advancement of environmenial protection or improvement through the SLJPPOrt provided by the premium
grant schemes awarded to semi-feral hill ponies who are essential for Ihe conservation of the natural habitat of
Wales.
the advancement of animal welfare through the publicalion of a code of welfare, a guide to purchasing and
caring for Welsh Ponies and Cobs, a care and management bookjet and other publications that provide welfare
guidelines and advice.
The significant activities undertaken by the charity which contribute to its slated aims and objectives are..
ducalion and Welfare- fostering and encouraging the acquisition of kno￿edge and dissemination of best praclise
regarding the management and welfare of ponies, cobs, part-bred and equine in general., publicising and
communicating the education and welfare by all means w)ssible.
- The development and growth of membership lo the Society, maintaining the integrity of the
Welsh Slud Book and Overseas Register. Production of an annual Slud Book and supervision of Young P8)ple's
Committee aclivilies. Organising and appointing Young Ambassador Elect and Young Achiever on an annual basis.
raising the profile of equines and ensuring that legislators and regulators are aware of what the
Society is thinking, providing a media approach in relation to equine across 811 media outlets, and informing Ihtr
public as lo what the So¢iely is developing.
win
judg$s' assessment and Conferen￿$. ensuring judges uphold the integrity and good
standing of the Society and exploring their continuing professional development, providing a clear written rule book
ea¢h year.
The Society is both dependent on and appreciative of the work of so many volunteers who give freely of their time to
advan￿ the interests of Welsh breeds. Trustees are aware that voluntary work is not always appreciated and would
like to thank members up and down the COLJntry who have generously given their lime on behalf of the Society.

THE WELSH PONY AND COB SOCIETY
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and performance
Council meetings were once more held in person al Bronaeron with an option for trustees lo join online to reduce
travel costs and lo f8¢11ilate the possibility of convening meetings at short notice rf required. C(¥nmittee meeting5
n)irrored this.
A highly su¢¢essful Awards night was held al Stontrleigh Park in 2024 with a new structurtr in pla¢e. The President's
dinner, hèld in Vénuè Cymru, Llandudno was an entertaining and su¢¢ossful evening with auction pro¢treds going lo
Auditory Verbal and Wales AirAmbulancè charitiès.
The original hard work of the Sales committee and staff has meant the Official sale at Builth Wells continues to
attract quality of animals attracting prices to mat¢h. 2Q24 seeing the event take pla￿ over three days with the first
day being mainly for perf0mlan￿ animals. The Society will continue to SLJPPOrt the Auctioneers to ensure the fLJture
of sales for OLJr membership. The huge SUC￿SS of the sales also contributes greatly to the Society in many ways
from income to the promotion of Ihe breed. The use of the online entries to streamline the checking process still
proves a huge benefit and has improved accuracy of entries.
The continuous improvement of the Society's administration is ongoing, as evidenced in cost reductlDns in
administrative and backroom areas, and in compliance with the Minimum Operating Standards for UK Passport
Issuing Offices and to produce passports within 1 S working days, and to transfer passtx)rts within 10 working days.
Every registration form which did not have errors or queries regarding ownership, etc was processed before the end
of the year, and the Society would like to commend its membership for their efforts in rectifying the problem.
However, the policy of retuming inc0￿eCt or incomplete forms has paid off. 17.90/D of all forms re￿Ved were
returned to the breeder at least once - some more than one lime, which is a 6.20A reduction of 2023 and we hope lo
continue lo reduce this figure with your help in 2025.
Another slud book was produced in 2024, volume 105, which brings the Society up lo dale,. volume 1 will be
ready for mid-2025. Resources have been allocated lo address issues conceming Education and Welfare for
members and non-members, and to include in particular the younger people. In order to reach a wider audience
using social media, the Society has been very proactive in its rale of poslings.11 currently has over 56,000 followers
on Facebook. The society is looking to expand their social presence through alternative media platFomis such as
Inslagram and Tiklok.
Council have Continued with the Intemalional Committee meetings as online meetings twice 8 year for inclusivity
and a￿essibIlitY for all daughter societies around Ihtr world. mindful of lime differences and the ¢ost and
énvironméntal impact of travèl. 11 was very p18asing to see such a good attèndance in throughout 2024. An
international gathering held at the Royal Welsh show was also well supported and il is hoped this ¢onlinues
throughout 2025 and beyond.
The Society eontinues to work with the Hill Pony Improvement Societies alongside holding the stallion premiums
and semi feral foal inspections annually. This was identified as an area for promotion to raise the profile of the hill
ponies within the breed. This provides invaluable geneti¢ information for the Welsh Breed and will be an asset for
future generations to reference.
The Society has reviewed the Judging & Showing Handbook and has amended the medal procedure and how these
are distributed, which come into effect for show season 2025.The Judging and Showing HandboDk works to ensure
the preservation and improvement of judging and competitor standards.
The services provided by the Society are not restricted and are widely available to the public, without discrimination.

THE WELSH PONY AND COB SOCIETY
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Society has a policy of investing in UK fixed interest and UK equities. The portfolio managers, Investec, actively
manage the funds on our behalf, buying and selling the portfolio as necessary, and to follow inslrudions provided by
the council in line with their investment policy.
Investments
Investments are valued at mid-market prI￿S and are split as follows..
2024
Fair Value
2024
Cost
2023
Fair Value
2023
Cost
Fixed Interest
Equities
Cash held in portfolio
544,080
576,421
1,643,939 1,287,808
9,486
9,486
525,433
1,56D,907
10,422
469,283
1,367,476
10,422
Financial review
Results
2024
2024
Unre$trlct•d Rèstrlctèd
2024
2023
2023
Total Unrestricted Restricted
2023
Total
Income
Expenditure
Operating results
Investment movements
Tr8nsfers between funds
Not movemant
628,533
1563,9291
64,604
114,431
417
179,452
13,070
18,5861
4,484
641,603
1572,5151
69,088
114,431
617,388
1675,8631
158,4751
75,096
4,907
622,295
18,0181 1683,8811
13,1111
161,5861
75,098
14171
4,067
183,519
16,621
13,510
The Society is keeping a close watch on both income and expenditure going forward. The Society is seeking to
increase its income from membership, from the passport issuing office and from promotional and trading goods
whilst exploring other income streams. Online payment of memberships continue lo be popular with members.
This reserves policy seeks to address the charity's future needs in relation to ils reserves and lo satisfy Charity
Comrllission requirements for charities lo adopt comprehensive reserves policies. The Council has established a
rinancial planning process whereby when agreeing the annual operational budget during the autumn of the
preceding year, and with the aim of balancing the operational budget, larger capital or revenue iterrE will be funded
out of ils reserves. As of the end of December 2024 the free reserves stand al £2,169,69612023.. £1,962,896). The
lolal designated funds at 31 December 2024 sland at £405,462 12023.. £432,810) see the notes to the financial
slalemenls for detsiled analysis.
The Council has examined the charity's requirements for reserves in light of the main risks lo the organisalion and
the cost of projected future projects. The main risks are identified as external events beyond the &)ciely's influence,
including the decision of the UK lo leave the European Union. Future projects will include a new website, museuml
museum hublsl, promotional virtU81 re81ily experiences, upgrade of a payment ¢olle¢lion service 8nd upgrades
including telephone systems and interactive voice response IIVRI, development of Society merchandise, DNA
development and development of Equicymru.
The Council re¢ognises that il should not be retsining income funds that should be paid out in the fU￿lIMent of ils
charitable objectives. The Coun¢il undertakes lo..
Review the reseNes position annually.
Review the investments position annually.
Forecast its income and the reliability of each income source.
Forecast its expenditure on the basis of planned aclivities and their associated costs.
Consider future needs and opportunities, for example expansion possibilities.
Consider various scenarios, for example, what if there was a change in government policy affecting their area of
operations.

THE WELSH PONY AND COB SOCIETY
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Society's principal funding sources are derived from income through membership subscriptions, grants and
sponsorships and they receive regular monthly income from registration and associated business. The Society has
invested amounts with its investment portfolio managers whilst retaining a prudent amount in the bank deposits.
Trustees continue to invest in fixed inlerestlshort term deposits and medium to low risk investments and are advised
by duly appointed investment portfolio managers.
The trustees have identified the followng significant risks affecting the Society..
Loss of passport issuing office IPIOI slatU5 leading to decreased income the charity ensures il keeps abreast
of all proposed changes by attending meetings with Welsh Govemmenl and the ESA 826 group, and by adively
engaging with and updating the Central Equine Database.
Sudden collapse in the equine leisure matkel las a result of an outbreak of fool and mouth or an Exoti¢ Equine
Diseasel- this is a risk the charity cannot mitigate against, however, the Charity is developing an action plan lo
implement should such an event happen.
S&v8r& e¢onomi¢ downtum leading lo loss of income- the charity monitors cash flow and exptrnditure against
budgets on a monthly basis to ensure unnecessary wsts are not incurred.
The knock on effect and repercussions following the UK'S exit from the Europ8an Union
the So¢i8ty is
maintaining ¢onta¢t with the Welsh and UK governments and ¢ommuni¢ating with key stakeholders.
The huge impact of inflation and the cost of living on members and the real threat that their equine interests will
have to be curtailed obviously affe¢ting the income streams of the So¢iety.
To miligate against the above risks and other risks lacing the charity the Irustees conduct regular reviews of the
major risks to which Ihe charity is exposed, listing these in a Risk Register. Systems and procedures have been
esiablished to mitigate the risks that the charity faces. Signilicanl external risks to funding have led to the
development of a Strat￿lC plan which will allow for the diversification of funding and activilies and assoaated
budgets. Internal control risks are minimised by the implementation of procedures for authorisation of all
transactions and projects. Procedures are in place to ensure compliance with health and safety requirements
relating to staff, trustees, volunteers and visitors to the Society's premises.
The Society continually reviews the procedures to ensure that they continue to rneet the needs of the charity.
Plans for future pariods
There are key areas of development and investment planned over Ihe next year. The Sociely's business plan for
2025-2026 includes continued promolion and education on the Welsh breeds and the care and management of the
horses and ponies. This is expected to be undertaken through attending specific targeted events on a national basis
and distributing information and guidance, improved links with the Area Associations, promoting online to members
and non-members, and moving the society into a 'Modern" world by promoting the business through new avenues
such as virtual reality is something to explore to attract a new audien￿ and generation.
The Society will continue lo develop the provision in the Welsh language.
The internet continues to be an excellent avenue for communication. The Facebook followers has increased from
56,191 in 2023 10 56,938 in 2024. The society has looked to enhance their online exposure through other social
media platforms such as Tiktok and Inslagram throughout 2025, using specialist content lo help reach and appeal lo
the required audience.

THE WELSH PONY AND COB SOCIETY
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management
The Welsh Pony and Cob Society (the Socielyl is 8 registered ¢h8rity under the Charities A¢1 2011 (Number
22201418nd 8 Company limited by gu8r8ntee (Number 10178321. The Society is govemed by ils Memorandum and
Articles of Asso¢i81ion which were initially adopted on the 15 July 1971, 81 whi¢h dal8 the assets and liabilities of the
nincorporaled Soci8ty wsre acquired. The Articles of Asso¢ialion were subsequendy amended and adopted on 1
Maroh 2008 and updated following th& EGM in September 2009 followed by a further update at the AGM of 1st
APRIL 2017. Thg last ¢hanges lo the So¢iety's Artidos and Memorandum wero adopted at Ihg AGM of 11th of
Decembèr 2021.
The Council, who are the Trustees of the charity and Directors of the company, are elected from tIE membership of
the Society at the Annual General Meeting. Council members are elected for a temi of 3 years and a third of Coun¢il
members normally retire each year, creating vacancies to be filled. They may, however, be re-elected for a further
three-year period before being required to stand down for a temi. The noti￿ calling for nominations is required to be
sent to members a minimum of 8 weeks before the AGM. All members of the Society have the right to nominate
candidates and vote. The adminislration and counting of returned postal ballots is conducted by independent
scrutineers. The President and President-Elect are also nominated and elected by the members and accepted at
the Annual General Meeting. The Chair, Vice-chair of Council and Chair of Finan￿ and Human Resources are
elected by Council members at the first meeting following the AGM each year.
The Society s structure is that of being governed by a maximum Council of 1 S members, restx)nsible for setting the
strategic direction of the organisation and the policy of the charity. Council carries the ultimate responsibility for the
conduct of the Society and for ensuring that the charity satisfies ils legal and contractual obligations. The Council is
bound by its Memorandum and Articles of Association to meet at least twi￿ a year. Various sub committees also
meet regularfy to consider the more urgent issues that arise during the year, bul all decisions are ratified by the
Council unless prior approval of remit and budget are given. The Council delegates the day-to-day operation of the
organisalion lo senior management. A register of Council Members, interests is maintained al the registered office
and is available lo the public for review.
New Council members are provided with an introdudion lo the Society and their role within ils governan￿ through
an induction day and a visit lo the Society's office. Printed and electronic materials are made available to them al
the induction and following on from that On 8 regular basis either by email or 81 Council meetings. Further
information and training is provided on an on-going basis through email, at Council meetings and other extemally
facililaled events.
The trusle8s Consider that the board of directors, who are also the So¢i&ty's trustees and th8 senior managemgnl
tèam, comprise thè koy managèmènt pérsonnèl of th& charity in ¢hargè of dirècting and controlling, rLJnning and
operating the Society on a day-ttsday basis. Al trustees give of their time freely and no trustee recèivèd
remuneration in the yèar. Details of trustees, èxpensès, kèy manag8m8nt parsonnél and relat￿ party transactions
are disdosed in the notes to the accounts.
The pay of the staff is reviewed annually and normally increased in accordance with average eamiros. In view of
the natLJre of the charity, the truslees benchmark against pay levels in other charities of a similar size and operating
in the same sector. The remuneralion is bench-marked using market data which is readily available. This is actioned
as long as the charity's business plan allows for the additional expenditure.
The Society is the sole shareholder of WPCS Trading Limited, a company limited by guarantee. This company
ceased trading on the 30 September 2005 and is dormant.
The Society also co-operates and liaises with a number of other organisations to achieve its objectives on a broader
level. It is closely associated with the Hill Pony Improvement Societies. It co-operates and collaborates with other
equine and welfare related organisations, including other native breed societies through DEFRA, the Welsh
Government, the National Pony Society, BHS, ILPH, the National Equine Welfare Council, HBLB, Trading
Standards, World Horse Welfare, RSPCA, JMB, 826 ESA group, NASTA, and DNA Consultants.

THE WELSH PONY AND COB SOCIETY
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Reference and administrative details
Charity nama
The Welsh Pony and Cob Society
Charity number
222014
Company number
1017832
R8gist&r8d office
Bronaeron
Felinfach
Larnpeler
Cèredigion
SM8 8AG
Kèy management ￿rSOnnel
Ms G Bassètt-Burr
Trust&•s
Mr D T C Evans - resigned 1 May 2024
Mr E P J Gummery
MSAJ Kember
Mr D O Robèrts- rèsignèd 6 April 2024
Mr D M Waters
MrsJVPary
Mr E G Prosser
Mr M J Davies
Mrs M A Bigley
Mrs T Hook
Mr R J Pittman - appointed 6 April 2024
Mr J T Kirk- appointed 6 April 2024
Mrs C Fell - appointed 6 April 2024
Mr P T Rutherford - appointed 6 April 2024
Mr G W Thomas - appointed 6 April 2024
Mr P J Lewis- appointed 6 April 2024
Secretary
Ms G Bassett-Burr
Pre$ld&nt
Mr D L l Evans- lo 6 April 2024
Mrs J P Price - from 6 April 2024
Pre$ld&nt Elect
Mrs J P Price - to 6 April 2024
Miss S Hardy- from 6 April 2024
Chalr of Coun¢ll
Mr E P J Gummery
Wice Chair of Council
Mrs M A Bigley
Directors of subsidiary company
Miss S Hardy
Mr C Thomas

THE WELSH PONY AND COB SOCIETY
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Indepondont examiners
A2els Audit Services
Ty Derw
LimeTree Court
Cardiff Gate Business Park
Cardiff
CF23 8AB
Legal Advlsèrs
Geldards
4 Capital Quarter
Tyndall Street
Cardiff
CF10 4BZ
Investment providers
Inveslec Wealth and Investment Ltd
30 Gresham Street
London
EC2V 7QN
Bankers
Barclays Bank PLC
1 Churchill Place
London
E14 5HP
The trustees report was approved by the Board of Trustees.
Mr E P J Gummery
Dated. 25 Mwch 2025

THE WELSH PONY AND COB SOCIETY
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE WELSH PONY AND COB SOCIETY
I report lo the trustees on my examination of the financial statements of The Welsh Pony and Cob Society (the
charilyl for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the charty land also ils directors for the purposes of company lawl you are responsible for the
preparation of the finanaal statements in accordance with the requirements of the Companies Ad 20C6 (the 2006
Acll.
Having satisfied myseTf that the financial statements of the charity are not required to be audited under Part 16 of
the 2006 Act and are eligible for independent examination, I report in respect of my examinatlon of the charity's
financial statements carried out under section 145 of the Charities Act 2011 Ilhe 2011 Actl. In carrying out my
examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl
of the 2011 Act.
Independent examinerfs ststement
Since the charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in section
145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a membw of The
Institute of Chartered Accountants in England and Vvales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause lo believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or
the financial slalements do not accord with those records., or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other
than any requirement that the accounts give a true and fair view which is not a matter considered as part of an
independent examination., or
the financial slalements have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by Charities applicable lo charities
preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021.
I have no ¢oncems and have Come across no other mallers in ¢onne¢tion with the examination to which attention
should be drawn in this report in order lo enable a proper understanding of the finanryal slalements lo be reached.
Andrew Howells
Azets Audit servI￿s
Ty Derw
Lime Tree Court
Cardiff Gale Business Park
Cardiff
South Glamorgan
CF23 8AB
United Kingdom
Dated. 25 Math 2025

THE WELSH PONY AND COB SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted Restricted
funds
funds
2024
2024
Total
Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Notes
Donations and
legacies
Charitable activities
Other trading
activities
Investments
32,207
545,583
32,261
545,583
17,627
545,997
17,627
545,997
1,718
49,025
13,008
14,726
49,033
7,459
46,305
4,907
12,366
46,305
Total income
628,533
13,070
641,603
617,388
4,907
622,295
Raising funds
5,653
8,586
14,239
7,729
8,018
15,747
Charitable activities
558,276
558,276
668,134
668,134
Total eX￿ndIture
563,929
8,586
572,515
675,863
8,018
683,881
Net gainslllossesl on
investments
13
114,431
114,431
75,096
75,096
Net Incomlng rosourcos
befora transfers
179,035
4,484
183,519
16,621
13,1111
13,510
Gross transfers
between funds
417
14171
Net movement in funds
179,452
4,067
183,519
16,621
13,1111
13,510
Fund balances at 1 January
2024
2,395,706
23,430
2,419,136
2,379,085
26,541
2,405,626
Fund balance5 at 31
December 2024
2,575,158
27,497
2,602,655
2,395,706
23,430 2,419,136
The stslemenl of financial aclivilitrs includes all gains and losses recognised in thè year.
l income and expenditure derive from continuing aclivilies.
The statement of financial activities also complies with the requirements for an income and expenditu￿ account
Ljnder the Companies Acl 2006.
10-

THE WELSH PONY AND COB SOCIETY
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Fixed assets
Intangible assets
Tangiblè assats
Inveslments
16
15
17
522
343,440
2,197,507
3,212
358,062
2,096,764
2,541,469
2,458,038
Current assats
Stocks
Debtors
Cash at bank and in hand
18
19
33,538
38,649
144,563
30,102
19,031
90,159
216,750
139,292
Crèdltors.. amounts falllng due wlthln
one year
20
161,7811
187,4241
Nel current assets
154,969
51,868
Total assets less current liabilities
2,696,438
2,509,906
Creditors.. amounts falling due after
more than one year
21
193,7831
190,7701
Net assets
2,602,655
2,419,136
Income funds
Restricted funds
Unrestricted funds
Designated funds
General unrestricted funds
25
27,497
23,430
24
405,462
2,169,696
432,810
1,962,896
2,575,158
2,395,706
2,602,655
2,419,136

THE WELSH PONY AND COB SOCIETY
BALANCE SHEET ICONTINUED)
AS AT 31 DECEMBER 2024
The company is enlilled to the exemption from the audit requirement contsined in section 477 of the Companies Act
2006, for the year ended 31 December 2024.
The directors acknowledge their responsibilities for complying wlh the requ1￿mentS of the Companies Act 2006
with respect lo accounting records and the preparation of financial slalemenls.
The members have not required the company to obtain an audit of ils financial statements for the year in question in
accordance with section 476.
These financi81 st8leTnenls have been prepared in accordan￿ wth the provisions 8pplic8ble to companies subject
to the small companies regime.
25 Mwch 2025
The financial stslemenls were approved by the Trustees on .
Mr E P J Gummery
Trustee
Company r&gl$tratlon number 1017832
12-

THE WELSH PONY AND COB SOCIETY
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Cash flows from operating activities
Cash absorbed by operations
30
18,1091
197,8801
Investing activities
Purchase of tsngible fixed assets
Purchas8 of invostments
Proceeds from disposal of investments
Investment income received
12081
1529,5761
543,264
49,033
1274,3321
349,088
46,305
Nat cash gonorated from Investlng
activities
62,513
121,061
Net Cash used In flnan¢lng actlvltles
Net increase in cash and cash equivalents
54,404
23,181
Cash and cash equivalents at beginning of year
90,159
66,978
Cash and cash equivalents at end of year
144,563
90,159
13-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charity information
The Welsh Pony and Cob Society is a private company limited by guarantee incorporated in England and
Wales. The registered office is Bronaeron, Felinfach, Lampeter, Ceredigion, SA48 8AG.
1.1 Accountlng convèntlon
The financial statements have been prepared in accordance with the charity's governing document, the
Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practi
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" The charity is a Public
Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
Thè financial statèménts havé bèon pr8par8d undèr thè historical cost convèntion, modifi8d lo inckjde certain
financial instruments al fair value. Thg principal a¢¢ounling policies adopted are set out below.
1.2 Going concern
At the time of approving thè financial statèmènts, thè trust8Ès havè a r8asonabl8 èxp8Ctation that tho ¢harily
has adeqLJate resour￿8 to continue in operational existence for the foresèeable future. ThLJS the trustèès
continue to adopt the going concem basis of aeeounting in preparing the financial statements.
1.3 Charitabl8 funds
General funds are unrestricted funds which are available for use at the discretion of the board in furtherance
of the general objectives of the society and which have not been designated for other purposes.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion lo
sel aside lo use for a specific purpose. The aim and use of each designated fund is set out in the notes to the
financial statements.
Reslri¢led funds are ftjnds which are lo be used in accordance with specifi¢ reslri¢lions imposed ty donors
which have been raised by the so¢iely for particular PLJrposes. The Cost of raising and administering such
fLJnds are ¢harged against the specific fund. The aim and Ljse of each restricted fund is set out in the notes to
the financial statements.
1.4 Incoming resource$
Income is recognised when the charity is legally enlilled lo it after any performance conditions have been met,
the amounts can be measured reliably, and il is probable that income will be received.
Cash donations are recognised on re￿ipl. Other donations are recognised once the charity has been notified
of the donation. unless performance conditions require deferral of the amount. Incorne tax recoverable in
relation lo donations received under GiftAid or deeds of ¢oven8nt is recognised at the lime of the donation.
Legaeies arg reeognised on receipt or otherwise if the charity has bèèn notified of an impènding distribution,
the amoLJnt is known, and receipt is èxpected. If thè amoLJnt is not known, thè legacy is traated as a
contingent asset, bLJt not recognised.
Dividends income is recognised on the date the charily's right to re￿1ve payment is established.
Trading income is recognised in the period to which the income is generated.
14-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
IContinued}
Income from charitable activities lexcluding grants) is credited lo the Slalemenl of Financial Activities in the
year in which they are due. Income received in advance is deferred to the appropriate financial year.
Grants are only included in the SOFA when the general income recognition criteria are met.
In the case of perforrnance related grants. income musl only be recognised lo the extent that the tharily has
provided the specified goods or services, as enlillement lo the grant only occurs when the performance
related conditions are mel. Grants receivable are Irealed in different ways dependent upon their purposes and
the terms of the grant.
Grants receivable for specifi¢ purposes are also t￿ated as reslricled funds so that any unused funds Can be
separately identified.
Grants receivable to facilitate the general running of the Charity are treated as unrestricted funds.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by
the charity., this is normally upon notification of Ihe interest paid or payable by the bank.
Turnover is measured al the fair value of the consideration re￿iVed or receivable and represents arnounls
receivable for goods and services provided in the normal course of business, net of discounts, VAT and other
sales related taxes.
1.5 Resources expended
Expénditurè is récogniséd on¢e Ihero is a legal or ¢onstru¢live obligation lo mako a payment lo a third paty, it
is probable that selllement will be required and the amount of the obligation ¢an bo measured rgliably.
Costs of raising funds comprise the costs in relation to generating income such as fundraising activities.
Expenditure on charitable activities includes all costs relating to the furtheran￿ of the chariws objectives as
stated in the trustees report.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable
aclivilies. Support costs include back office costs, fillan￿, personnel, payroll and governan￿ costs. The
basis for calculating the allocation of support costs was as a percentsge of lotsl staff costs attributed lo each
department.
Governan￿ costs COTnprise all costs involving public accounlabilily of the charity and its compliance with
regulation and good practice.
1.6 Intangible fixed assets other than goodwill
Intangible assets a¢quired separately from a business are recognised 8t Cost 8nd are subsequently measured
at cost less accumulated amortisalion and accumulated impairment losses.
Amortisation is re¢ognised so as to write off the ¢ost or valuation of assets less their residual values over their
useful lives on the following bases..
Software
20°/o Straight line
15-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
IContinued}
1.7 Tangible fixed assets
Tangible fixed asstrts ar& initially measured al cost and subsequenuy measured al ¢osl or valuation, nel of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Motor vehides
2.kn and 5°/0 Straight line
Over the life of the lease
25Vo and 330/0 straight line
20.10 reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale
proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Individual fixed assets costing £250 or rnore are capttalised al cost.
1.8 Fixed asset investments
Fixed asset investmènts are initially measured at transaction price èxcluding transaction costs, and arè
subsequenuy measured at fair value at each reporting date. Changes in fair value are recognised in net
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating
policies of the entily so as to obtain benefits from its activities.
1.9 Impaimient of fixed assets
At each reporting end date, the charity reviews the carrying amounts of ils tangible and intangible assets lo
determine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is eslimaled in order lo determine the extent of the
impairment loss Irf any).
1.10 Sto¢k$
stocks are stated at the lower of cost and estimated selling pri￿ less costs to complete and sell. Cost
comprises direct materials and, where applicable, direct labour costs and those overheads that have been
incurred in bringing the stocks to their present location and condition. Items held for distribution at no or
norllinal consideration are measured the lower of replacement cost and cost.
Net realisable valLJe is the estimated sèlling pri￿ less all estimated costs of completion and costs to be
incurred in marketing, selling and distribution.
The ¢omplel& set of slud books used for library and reference purposes are not valued and are exduded from
the Balance Sheet.
1.11 Cash and cash equivalents
Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-lerm liquid
investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
16-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
IContinued}
1.12 Financial instruments
The Charity has elected to apply the provisions of Section 11 'Basi¢ Financial Instmmenls, and Section 12
'Olher Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls.
Financial instruments are recognised in the charity's b8lan¢e sheet when the charity becomes party to the
contra¢tual provisions of the instrument.
Financial assets and liabilities are offset, with the nel amounts presented in the financial statements, when
there is a legally enforceable righl to set off Ihè recognised amounis and there is an intention to settle on a
net basis or lo realise the asset and settle the liability simultaneoLJsIy.
Basi¢ financial assets
Basic financial assets, which include debtors and cash and bank balances, are inilially measLI￿d at
transaction pri￿ induding transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction is
measLJred at the present value of the future receipts discounled at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Derecognitlon of flnan¢lal assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or
are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of
ownership to another entity, or if some significant risks and rewards of ownership are retained but control of
the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Baslc flnanclal Ilabllltles
Basic financial liabilities, including creditors and bank loans are initially recognised al transaction pri￿ unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried al amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al
transaction price and subsequently measured al amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
Can￿lled.
1.13 Employee benefits
The cost of any unused holiday enlillement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
to lerminale the employment of an employee or lo provide lerminalion benefits.
1.14 Retirement benefits
Payments to defined contribution retirement benefit schemes a￿ charged as an expense as they fall due.
17-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
IContinued}
1.15 Reserve for future costs of life members
Life Membtrrs, subscriptions received in the period are included in income and Iransferrtrd to def8rr8d incom8.
The deferred income is adjusted at each a¢¢ounting date for a rogular amount transferred back to income
dependent on the age banding of the life member.
Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required lo make judgements, estimates
and assumptions about the carrying amount 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 lo be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
eslimales are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Key sources of estimation uncertainty
Life members deferred income
The Charity provides life membership lo members of varying ages, this requires an eslimalion regarding the
nurllber of years in which the Income is released in the financial slalerllenls.
The income is released in the financial slalements as follows..
Undor 21's- over 50 years
2140's - over 40 years
Over 40 - over 30 years
Over 60 - over 20 years
As at 31st December 2024 the amoLJnÈ of income deferred totalled £100,84812023.' £97,889), split between
Creditors due within one year £7,065 12023.. £7,119) and creditors dLJe after more than one year £93,783
12023.. £90,770).
Income released in the financial statements totalled £7,66712023.' £6,290).
Stock
The charity holds a large amount of stock of which some items are deemed to be obsolete andlor slc
moving. A stock provision is made each year which requires an estimation as to the written down value.
During the year stock increased by £3,43612023.' decreased by £12,3861.
As at 31st December 2024 the stock value contained in the financial statements totslled £33,538 12023..
£30,102).
18-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Donations and legacies
Unr8strictèd Rèstricted
funds
funds
2024
2024
Total Unrèstrictèd
funds
2023
2024
Donations and gifts
32,207
54
32,261
17,627
Donations and gifts
Donations and sponsorship
Pavillion donations and income
17,245
14,962
54
17,299
14,962
4,645
12,982
32,207
54
32,261
17,627
Charitable activities
Unrestricted Unrestricted
fund5
fund5
2024
2023
Subscriptions and life members income
Journal $8les and advertising
Other membership income incl insurance
Registration and passports
Transfers and other registration income
Promotional goods
Judging, medal and rosette income
144,162
22,537
1,633
222,722
119.796
10,283
24,450
131,209
18,437
1,378
225,728
121.547
26,231
21,467
545,583
545,997
Other trading activities
Unrestrl¢ted Rostrl¢ted
funds
funds
2024
2024
Totsl Unrestrl¢ted Restrl¢ted
funds
funds
2023
2023
Total
2024
2023
Young people's fund
President's fundraising
and dinner
Solar panel income
1,774
1,774
650
650
11,234
11,234
1,718
4,257
4,257
7,459
1,718
7,459
Other trading activities
1,718
13,008
14,726
7,459
4,907
12,366
19-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Investments
Unr8strictèd Rèstricted
funds
funds
2024
2024
Total Unrèstrictèd
funds
2023
2024
Income from listed investments
Interest receivable
47,612
1,413
47,612
1,421
45,249
1,056
49,025
49,033
46,305
20-

W7J
T5 (Y
10
o oo
7J C+4
Qb TJ

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Charitable activities
Membership Registration Education & Judging &
promotion
showing
Total
2024
Total
2023
Journal costs
Membership costs
Central prefix register
and stud books
DNA blood typing and
microchips
Passport binding
Promotional goods and
stock
Exhibition unit expenses
Publicity officers
expenses and
edu¢81ion81 visits
Medals, rosettes and
engraving
Judges and showing
handbook
International show costs
and expenses
18,768
31,485
18,768
31,485
26,343
34,795
6,020
6,020
12,698
32,836
479
32,836
479
29,232
810
1,110
2,077
1,110
2,077
17,286
2,522
3,800
3,800
19,138
1 C>,856
10,856
6,253
1,576
1,576
3,007
300
300
306
50,253
39,335
6,987
12,732
109,307
152,390
Share of support costs
(see note 101
Share of governance
costs (see note 101
66,440
189,310
41,155
11 5,232
412,137
452,624
5,894
16,942
3,683
10,313
36,832
63,120
122,587
245,587
51,825
138,277
558,276
668,134
22-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Description of charitable activities
Membershi
The members, ServI￿S department deals with subscriptions, the pavilion, the internet information and the
journal.
Re
istration
The registration department includes the activities of registration, passports, transfers, exports, ￿ntral
prefixing, stud books and DNA blood typing and licenses.
Education &
romotion
The education and promotions department includes the premium awards, junior dub and donations, together
with deals which include some promotional goods, second hand books and sponsorship.
Jud
& showin
The judging & showing department indudes the Conferen￿ and seminar meetings, together with the
allendance at shows and events, Medals and rosettes.
23-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Support costs
Support Governance
costs
Costs
2024
Support Governance
Costs
Costs
2023
Staff costs
Depreciation
Other staff costs
Postage and stationery
Computer costs
Equipment rental
Repairs, renewals and
sundry
Rates and utilities
Insuran
Travel and subsistence
Telephone
Bank charg@s,
investment and other
costs
219,844
17,520
1,592
38,299
24,435
11,458
219,844
17,520
1,592
38,299
24,435
11,458
255,000
20,076
760
39,651
31,236
12,928
255,000
20,076
760
39,651
31,236
12,928
32,432
14,027
12,866
722
16,136
32,432
14,027
12,866
722
16,136
44,683
19,516
8,591
773
14.1131
44,683
19.516
8,591
773
14,1131
22,806
22,806
23,523
23,523
Audit fees
Independent examination
fees
Legal and professional
fees
AGM expenses
Council expenses and
training
15,930
15,930
7,575
7,575
8,517
9,455
8,517
9,455
29,250
6,818
29,250
6,818
11.285
11,285
11,122
11,122
412,137
36,832
448,969
452,624
63,120
515,744
Analysed be￿een
Charitable activities
412,137
36,832
448,%9
452,624
63,120
515,744
11 Trustees
No trustees re¢gived any wmungration during the current or prior ygar.
Atotsl of £9,58812023.. £8,968) was incurred in relation lo travel, subsistence and accommodation expenses.
In 2024 eleven trustees A Kember - £3,756, S Charllon £248, D Roberts £672, E Gurnmery - £2,740, J
Parry - £1,139, M Bigley - £214, P Rutherford £81, T Hook - £92, G Thomas - £342, D Jones - £212, C
Evans - £92 claimed expenses12023'. len trustees A Kember, D Jones, E Hampson, R Wilson, S Charfton. D
Roberts, W Jones, L Stephens, E Gummery, A Everitt claimed expenses).
24-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Employees
Number of8mploye8s
The average monthly number of employees during the year was..
2024
Number
2023
Number
Office staff
Employment costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
201,275
12,547
6,022
236,494
11,212
7,294
219,844
255,000
Key management personnel
The key management personnel as detsiled in the trustees r&port Ipage 71 received benefits linclLJding gross
salary, employers national insurance and employers pension ¢onlribulionsl lotalling £47,06912023".
£93,836).
Employees earning > £60k
There were no employees whosg annual remuneration was £60,000 or more.
13 Net gains1{105sesl on investments
Unrestricted Unrestricted
funds
fund5
2024
2023
Revaluation of investments
114,431
75,096
14 Taxatlon
The charity is exempt frorn tsx on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the exlenl that these are applied to its charitsble objects.
25-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15 Tangible fixed assets
Fre8hold land
and building8
Leasehold
land and
buildings
Plant and Motor vehlcl88
equipment
Total
Cost
At 1 January 2024
Additions
468,805
95,614
320,859
208
17,500
902,778
208
At 31 December 2024
468,805
95,614
321,067
17,500
902,986
Depreciation and impairment
At 1 January 2024
Depreciation charged in the year
127,865
10,032
83,189
2,604
319,642
1,319
14,020
875
544,716
14,830
At 31 December2024
137,897
85,793
320,961
14,895
559,546
Carrying amount
At 31 December 2024
330,908
9,821
106
2,605
343,440
At 31 December 2023
340,940
12,425
1,217
3,480
358,062
16 Intangible fixed assets
Softwaro
Cost
At 1 January 2024 and 31 December 2024
26,245
Amortlsation and Impalrment
At 1 January 2024
Amortisalion charged for the year
23,033
2.690
At 31 De￿mber2O24
25,723
Carrylng amount
At 31 December2024
522
At 31 De¢ember2023
3,212
26-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
17 Fixed asset investments
Listed
investments
Cash in
Other
portfolio investments
Total
Cost or valuation
At 1 January 2024
Additions
Valuation changes
Cash movement
Disposals
2,086,340
529,576
114,431
10,422
2,096,764
529,576
114,431
19361
1542,3281
19361
1542,3281
At 31 December2024
2,188,019
9,486
2,197,507
Carrying amount
At 31 December 2024
2,188,019
9,486
2,197,507
At 31 December2023
2,086.340
10,422
2,096.764
2024
2023
Other investments comprise..
Notes
Investments in subsidiaries
29
18 Stocks
2024
2023
Finished goods and goods for resale
33,538
30.102
19 Debtors
2024
2023
Amounts talling due within one year:
Trade debtors
other debtors
19,260
19,389
19,031
38,649
19,031
27-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
20 Creditors: amounts falling due within one year
2024
2023
Not¢s
Other taxation and social security
Dèferred income
Trade creditors
Accruals
9,500
37,119
7,312
7,850
3,702
45,469
22,323
15,930
23
61,781
87,424
21 Cradltors: amounts falllng due after mora than on8 year
2024
2023
Notes
Deferred income
23
93,783
90,770
22 Retirement benefit schemes
D&fined contribution schemes
The charity operates a defined contribution pension scheme for all qualrfying employees. The assets of the
scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £6,022 12023.. £7,294). The
amount outstanding at the year end was £nil12023.' £nill.
23 Deferred In¢om•
2024
2023
Arising from membership subscriptions and
journal sales
130,902
136,239
Deferred income comprises joumal sales and membership subscriptions which relate lo the 2024 financial
year.
Deferred income also includes life members, subscriptions.
Deferred income is included in the financial slalements as follows..
2024
2023
Deferred income is in¢luded within..
Current liabilities
Non-currenl liabilities
37,119
93,783
45,469
90.770
130,902
136,239
Movements in the year..
28-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
23 Deferred income
IContinued}
Deferred income al 1 January 2024
Rtrlèased from previous periods
Resources deferred in the year
136,239
132,1731
26,836
Deferred income at 31 December 2024
130,902
24 Dasignatod funds
The income funds of the Charity include the following designated funds which have been set aside out of
unreslri¢ted funds by the Iruslees for specifi¢ purposes..
Balance at
1 January 2023
Resou￿8$
Balance at
expended1 January 2024
Resou￿8$
expended
Tran5f8rs
Balance at
31 De¢ember
2024
Educational bursary
IT development
Legal costs
Capital expenditure
Training
Fixed asset fund
Social media Content and
marketing
2,000
20,000
30,000
15,000
5,000
381,350
14661
1,534
20,000
30.000
15,000
5,000
361,276
1341
110,0001
120,0001
1,500
10,000
10.000
15,000
5,000
343,962
120,0741
117,5221
208
20,000
20,000
453,350
120,5401
432,810
117,5221
19,8261
405,462
Educational bursary
Relates to monies designated to provide educational bursaries. The rerllaining balance will be expended in
future periods.
rr development
Relates to future costs regarding the redesign and update of the charity's new IT system.
Legal costs
Relates to future costs regarding ongoing legal advi￿.
Capital expenditure
Relates to future Capital costs lo be incurred towards work at Bronaeron sile.
Training
Relates to future costs regarding training, the remaining balan￿ will be expended in future periods.
Fixed asset fund
This represents the nel book value of the charity's fixed and intangible assets.
Social media content and marketing
Relates to future costs regarding social rnedia conlenl and marketing.
29-

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UI ¢0 5> U)
ry ￿ Lr) a)
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(o iy) o
100
* (
(NOO
LO
TJ*
oN(o
o*
¢0
J (x

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
27 Related party transactions
There were related party transactions of none dLJring the year12023- none).
Included within the Trustees Report are details of related paty relationships regarding the society's domiant
trading subsidiary and other organisations the society works with to achieve its objectives.
28 Operatlng lease commltments
At the reporting end date the charity had outstsnding commitments for future minimum lease payments under
non-cancellable operating leases, which fall due as follows..
2024
2023
Within one year
Between two and five years
In over five years
13,820
55,279
38,818
13,820
55,279
52,675
107,917
121,774
The charity classifies the lease of a photocopier, franking machine and rental of a building as operating
leases. Rental charges are charged on a slraight line basis over the temi of the lease.
29 Subsidiaries
Thesè finanaal statements are separalg ¢harity finan¢ial slalemenls for The Welsh Pony and Cob Soaety
Limited.
Consolidated financial statements have not been prepared due to the trading subsidiary being dormant.
Details of the charitls subsidiaries at 31 De￿mber 2024 are as follows..
Namo of undortaklng
Reglstared
office
Natur¢ of buslne$$
Class of
shares held
°fi Held
Direct Indirect
WPCS Trading Ltd
United Kingdom Dormant
Ordinary
Sharés
100.00
The agg￿gate capitsl and reserves and the result for the year of subsidiaries exduded from consolidation
Was as follows..
Name of undertaking
ProfiVILossl Capital and
Reserves
WPCS Trading Ltd
The company number for the trading company is 02946610.
The investment in the subsidiary is stated at cost.
32-

THE WELSH PONY AND COB SOCIETY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
30 Cash generated from operations
2024
2023
Surplus for the year
183,519
13,510
Adjustments for..
Investment income recognised in statement of financial activities
Fair value gains and losses on investments
Amortisation and impairment of intsngible assets
Deprecialion and impaimient of tangible fixed assets
149,0331
1114,4311
2,690
14,830
146,3051
175,0961
5,244
14,832
Movements in working capitsl..
Ilncreaseydecrease in slocks
Ilncreasel in debtors
IDe¢reasel in ¢redilors
(Decreaseifincrease in deferred income
13,4361
119,6181
117,2931
15,3371
12,386
19,3071
144,5431
31,399
Cash absorbed by operations
18,1091
197,8801
31 Analysis of changes in net funds
The charity had no debt during the year.
33-