The Sussex Cattle Society (A Company Limited by Guarantee) Company Number 0031031 Charity Number 238662 Report and Financial Statements for the Year Ended 31 December 2021 The Sussex Cattle Society (A Company Limited by Guarantee) Charity Number 238662 Index to the Financial Statements for the Year Ended 31 December 2021 Legal and Adminixrative Inforniation Rep)r¢ of the Council of Management Report of the Auditors Sta*ment of Financial ActiYitye$ Balance Sheet 10 Notes to the Financial Sta*ments Profrt and Loss Account 18 The Su55ex Cattle Society (A Company Limited by Guarantee) Charity Number 238662 Report and Financial Statements for the Year Ended 31 December 2021 Legal and Administrative Information for the year ended 31 December 2021 Constitution: The Sussex Cattle Society is a Company knmited by Guarantee and a regIs￿red charity governed by its Memornndum and Articles of Association. Charity Number. 238662. Company Number: 0031031. Member5 of Council: These are appointed in accordance with the Articles of ASK￿lation of the company and such members are direttors of the company for the pur￿Se5 of the Ccffipanies Act 2(N)6 and trus￿eS of the chariry. The Member5 of Council during the year under review were: Mr PJ Holdstock Mr R Dunn Mr DA Wells Mr W Peter5 Ms J Howard Mr E Harmer Mrj Harmer Mr J Hickman Mr MG Hickman Mrs B Hide Mr R Horsman Mr W Hurley Mr D ma￿r$ Mr D Spanton Mr D Stevens Mr S Wright President Deputy President Pasc President Chairn)an Vice Chairman co￿p￿ 2020-24 CO￿P(ed 2021-25 CO￿P￿d 2020-24 Co-opted 2018 retires 2022 Co-opted 2018 retires 2022 Co-opted 2021-25 CO-op￿d 202￿24 Co-opted 2019 retires 2023 Co-opted 2021-25 Co-opted 2018 retires 2022 Co-opted 2021-25 Elected 2018 retyres 2022 Co￿pted 2019 retires 2023 Secretary. Miss SG Kennedy Re&stered Office: Station Road, Robertsbridg< East Sussex Bankers: National Wesllninster Bank 16 High Stree( Battie, East Sussex Auditors.. Mccabe Ford Williams. Statutory Audicors & Char￿red Accountan Bank Chambers. 61 High StreeL Cranbrool Kent Solicitors: nklaters & Pain￿ Barringeon House. 59*7 Gresham SrJeeL London The Sussex Cattle Society (A Company Limited by Guarantee) Company Number 0031031 Charity Number 238662 Report of the C¢)uncil of Management for the Year ended 31 December 2021 Your Council is pleased to present their ￿POrt with the financial statem￿lts of the company for the year ended 31 December 2021. The financial Statem￿ts comply ￿￿th the Companies Act 2006. The Charities Acc 201 l and the Statement of Recommended Prnctl￿. Accounting and Rep)rring by Charities (Effettive I January 2015). Charitable Objortives The Memorandum and Artitles of Association sets out the charitable objective5 for which The Sussex Cattle Sociery is es¢ablished. They can be 5ummarised as follow5: To maintain the puriry and improve the breed. Policies to Achieve the Objertives The Council of The Sussex Cattle Sociery uses two main initiatives to pursue the main objertive& i. The publication of The Sussex Herd book The bcx* is published annually and Volume 125 VAS published in 2021. 2. Prornoting the breed by exhibiting at warious shows and events and limityj advertlsing. Organlsation of the Charity The Charity is organised as set our in the Memorandum and Arucles of Association. The control of its affair5 is in the hand5 of a Council and Members of Council are appointed in accordance with the terms of the Memorandum and Articles of As%Kiation. Miss Kennedy. b￿.rt2 the only person on the payroll, carries our the day-to4ay running of the Charity. A su&committee has been formed to look ar TrKdyS in which our Shows & Sales can be improved and how the breed can be better represented as various shows and events around the country. It will also consider how to encourage breeders ro exhibiL Revlew of 2021 Finances: The Sociecy continues to remain stable ￿￿th general adminisu7ty0n costs kept to a minimum. Fees will generally be increased annually in line inflaoon dependant on the Sociery's financkil status. The Sociery's monetary assets are now all invested in COIF Chariry Invesfments as appropriat& Sufficient assets are held to maintain the Society for several years and to publish the Herd Book and promole the breed, it is felt that plentiful reserves should be maintained co re-establish the breed if there should be a s￿nifICant loss of breeding cattle outside the Society's control. The Council conunually assesse5 the financial status of the S¢xiety and strives to ensure that the promotions and publiciry levels are maintained or increased. Membership: At rhe end of the year there were 133 full, 36 associate and 25 lrfe and honordry members. Herds: During the year 3 new breeders joined the Sociery. CPonges of Ownerships were made for over 300 animals. It is pleasing to note that new herds being estsblished tend to have greatrr herd sizes than those being dispersed. The national herd of r￿stered Sussex Catde is now in excess of 2.500 breeding cows, with the number of female registrations per annum being in excess of twelve hundred. The Sussex Cattle Society (A Company Limited by Guarantee) Company Number 0031031 Charity Number 238662 Report of the Council of Management for the Y&qr ended 31 December 2021 continued Shows and Sale&. Due to the COVID restriction5 no Shows & Sales v4ere pemiitted. The trnde for Su55ex remained srrong through private sales with a continuing demand for breeding females and bulls changing hands amongst members and selling outside the breed for crossing wp)ses. Annual General Meetinr. The AGM was scheduled for 21 st April 2021. hower. COVID restrictions did not allow for a public meeting. The agenda and voting papers were sent out to members and votes were counted and the resoluuons passed. Mr Pl Holdstock ￿d$ eletted Pre5ideni and Mr R Dunn elected Depury Presiden¢ Members of Council: The Members of Council are appointed in accordance with the Memorandum and Articles of Association. At a meeting Immedia￿lY followng the Annual General Meetin& Mr W Peters was elected Chairman and M5 J Howard elected Vice Chairn)an. Council ¢onrJnued to meet throughout the year via Zoom and tontinued to manage the business of the Society. Reserves Policy: It is the policy of the chariry to mainr3in unrestricted fund5, vthich are the free reserve5 of the charity. at a level that equates to approximately one year of unrestricted expenditure. This ought to provide sufficient funds to cover the day-to-day running costs in addtiion to ensuring the publicauon of the herd book in pro8re5S. Breed Promotion: Due to COVID restricrion5 there vrds only one show. Edenbridge, and no other events held throughout the year. We were, however. able to have a Farm Walk. kncerdture and informauon Vfds sent in respM)n5e to enquiries by telephone and email throughour the year. The website is updated as required. A presence is maintained on Facebook. A Breeders. Direaory was produced. Additionally there wa5 adverrising in the farming pre55 as part of an ongoing campaign to promote the breed and our Shows & Sales throughout the tountry. A collaboration has been established with Signet Beetbreeder which will offer all breeders the opportunicy ro record data with the Society paying an annual fee to Signet to cover all breeders, membership of the scheme free of fees. The year saw the first edition of a Bull Sale Catalogue which promoted an online presenee for breeders to market bulls privately. This proved very successful with around SO bulls being sold. The catalogue was also promoted in the farming press. Risk Management The Council has examined the major mtegic, business and operdtional risks which the chariry fa￿$ and confirms that systems have been estsblished to enable regular reporrs to be produced so that the necessary step5 can be taken to lessen these risks. Genernlly the greatest risk to which the Society is exposed is Eeyond its control and linked ¢0 Government andlor EU FM)licy and regulation5. The Sussex Cattle Society (A Company Limited by Guarnntee) Company Number 0031031 Charity Number 238662 Report of the Council of Management for the Year ended 31 December 2021 continued Public Benefit The directors, as trustees of the company have complied y￿th the duty in secrion 17(5) of the Charities Act 201 I to have re￿rd to the public benefit guidance published by the Charity Commission. To this end the Society made information on the breed. its history and irs plats in modern agnculture freely available to the general public through postal. online and trlephone querie5. in addrtion to the website and at Wdrious events during che year. Additionally. the Society would normally have information stands including live examples of the breed at educational events at the South of England Showground where several thousand children have the opportunity to be given inforniation and to ask questions. Free information packs were sent to any students making enquiries. The Society continues to ensure that the appropria￿ organizations are also aware of using the breed as a contributor to the maintenance of environmentally sensitive areas. A publication is also available to give guidance on the management of the breed. exhibiting and breeding practice in addition to providing local in$truttional sessions as reque5t&J. The website now includes a section on the purchase and cooking of beef for the consumer in addition to a list of Outle￿ where Sussex beef may be purchased direct from the producers. Training and informa(ion days will continue to be held offering advi￿ and instruction on the breed and vrdys in which the breed can be advanced. The Scciety will continue to strongly promote the use of data colleth'on through Signet Bedoreeder to assist in breed improvemenL Statement of Directors. Responsibilitle&' The direccors are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the direcwrs to prepare financial sta￿rnents for each financial year. Under that law the directors have elec¢ed to prepare the financial sta￿rnents in accordance with Unired Kingdom Generally Accepted Accounting Prdccice (uni￿ Kingdom Accounung S¢andards and applicable law) including Financial Reporn'ng Standard 102 The Financial ￿e￿rtIng Srandard applicable in the UK and Republic of Ireland,, Under company law the directors must not approve the financial statements unless they are satisfied they give a true and fair view of the Sta￿ of the company and of the profit or Ios5 of the company for chat period. In preparing those financial sta￿mentS the directors are required to select 5Uitable accountyng policies and then apply them consis￿ntlY. make judgments and estimates that are reasonable and prudenc prepare the financial 5ratemenfS on the going concern b￿S unless it is inappropriate to p￿Sume that the company will continue in busine5S. The direcwrs are responsible for keeping proper accounting records that are suffTrcient to show and explain the company's trdnsactions and disclose reasonable accurdcy at any time the financial position of the company and co enable them to ensure that the financial staremenrs comply with the Companies Att 2006. They are also resFK)nsible for safeguarding the assets of the company and hence for taking reasonable $￿p$ for the prevention and detettion of fraud and other irregulariries. Statement as the Disclosure of Information to Auditory. So far as the direccors are avrdre. there is no relwdnt audit information (as defined by Section 418 of the Companies Act 2006) of whieh the company's auditors are unaware and each director has taken all the steps that they ought to have raken a5 a direccor in order to make themselves avrare of any relevant audit information and to establish that the company's auditors are aware of that inforniation. Page 4 The Sussex Cattle Society (A Company Limited by Guarantee) Company Number 0031031 Charity Number 238662 Report of the Council of Management for the Y&ir ended 31 December 2021 continued Auditors: The auditors, Mccabe Ford Williams, will be proposed for re•appointment at the forthcoming Annual General Meetin& This Report has been prepared in accordance the ¥￿la1 provisions of Part 15 of the Companie5 Act 2006 relating to small companies. On Behalf of the Board: S Kennedy Secretarr. Date: 16 March 2022 The Sussex Cattle Society (A Company Limited by Guarantee) Charity Number 238662 Report of the Independent Auditors to the Member5 of The Sussex Cattle Society Opinion We have aUdI￿d the financi￿ statements of The Sussex Catde kniety (the '¢ompany'l for the year ended 31 December 2021 on pa¥es 9 to 16. The financ￿1 reporting framework that has been applied in their preparauon is applicable law and United Kingdom Accounting Standard& induding Financi￿ Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. (Unitsd Kingdom Generally Accepted Accountyng Practice). This report is made solely to the company's members as a body. in accothce Chapter 3 of Part 16 of che Companies Act 2006. Our audir work has been undertaken so thac we migh¢ s¢ate to the company's members those matter5 we are required to state to them in a Wrt of thé Auditors for no other purpose. To the fullest e%￿nE perniitted by law. we do nor accept or assume responsibility to anyone other than the company and the company's m¢mb•rs as a body. for ¢)ur audit for this repor¢ or for the opinions we have formed. In our opinion the financial sta¢ements'. give a rrue and fair viw of the stare of the ¢ompany's affw'rs as at 31 Decembw 2021 and of its profit for the y•ar th•n •nded: have been properly prepared in attordance with United Kingdom Ge￿w￿lY Accepted A¢c¢unung Pr3Ctice.' and have been Prepar￿ in accordanc• with the requirements of the Companie5 Att 2006. Basls for oplnlon We conducted our audit in accordan¢e with Internauonal Standards on Audiung (UK) IISAS {UKII and applicablè law. Our responsi￿.11t1es under those Standards art fiJrther described in the Auditors. rèsponsibilities for the audit of the fiTranc1￿ statements section of our reporc Wè are independeni of th• company in accordance with the ethical requiremènts tha¢are rdevant to our audit ofthe ffinancial sratements in the UK. including the FRC'S E¢hiaJ S¢andard. and we havè fulfilled our other ethical rtsponsibilityes in accordance wirh chest requiremenrs. We belièvè that the audit evidenc• we have ob¢￿'ned is sufficient and appropnate to PrO￿de a basis for our opinion. ConcluJlon> rnlatins to golng concèrn In auditlng the financial statements. we have concluded that thè dirwrs. use of the p'ng conctm basis of accounung in the preparation of the financial statements t5 appropria Based on the work w• have perfornied. we have not ideniified any material unctrtainties relaung to e¥￿ts or conditions that, individually or cdlLNttively. rnay cas¢ $i￿r￿can¢ doubt on the company's ability to continue a5 a going concern for a period of ai least tr4elve months from whèn the financ¢aJ statements ar• authori5ed for issue. Our responsibilitses and the re5ponsibiliues of the direcwrs with resp•tt ¢0 going concern are descrSbed In the rel•vant sèttion5 91 thi5 report Other informatlon The director5 are responsible for the othw Infornution. ThÈ other inforniation comprises the information in the Repor¢ of the Council but does not includé the financi￿ statements and our Report of the Auditors thereon. Our opinion on the financial s12￿MentS does not cover the other infornmtion aFKI we do n¢X express any form of assurance conclusion thereon. In connecuon with our audit of the financi￿ statsmenrs our respw)nsibility is to read the other inforniauon and. in doing so, consider whether the other infom)ation is materially inconsistent with the financial statements or our knowledge obtained in the audic or otherwise appears to be matsrially missrated. If, based on the work we have performe(L we condude tha£ the￿ is a matenal mi55tatement of this other inforniatyon. wè are required to report that facL We havè nothing ¢0 report in this rerdrd. Page 6 The Sussex Cattle Society (A Company Limited by Guarantee) Charity Number 238662 Report of the Independent Auditors to the Members of The Sussex Cattle Society Opinion on other matters prescribed by the Companies Act 2006 In our opinion. based on the work under(aken in the course of the audit the irFformation &'ven in the Report of the Counol for the financiaj year for which the finantial statements #re prepared is consistent with the financial statements- and the Report of the Council has been prepared in accordance with applicable legaj reqU1￿ment Matters on which we arè required to report by exception In the li8hr of the knowledge and understanding of the company and its e￿￿rOnmtftt obtsined in the couptse of the audi4 wè have not idenvfied Materi￿ mi55tatwnents in the Report af the Council. We have nothing to réport in respecc of the foll¢)wing matter5 whwe the Companie5 A¢¢ 2ty)6 requires us ro report to you if, in our opinion.. adequate accounung records have not been kepl ¢r rewrns adequate for 4)ur audit have not been received from branchès not visitwl by us,. or the financial statements are not in a8retsnenc with the Kcounun8 records and returns: CY tertain disclosures of direcrors. remuneratyon specified by law are not made.. or we have not received all the inforrnation and eylanauons w¢ require for our audic or the directors w¢r¢ n¢¢ enti¢led to pryre the financial statements in accordance thè small companie5 re8ime and cake adTrrdn¢age of the small c¢mpanie5' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Council. Responslbilities of dirertors As explained more fully in chè Sta¢ement of Dlreccors, Responsibilities set out on pagè four. the directors are responsiblÈ for the preparation of the firwicial statements and for b￿"ng savsfied that they gi¥• a true and fair view. and lor such internal control a5 the direcrors de￿milne necessary to enable the preparnuon of financial statemènts that are free from macerial misstatemenL whether due to fraud or error. In prèparing the financial stIremen￿ thè dlrertors are responsible for assessing the company's ability to continue as a goin8 concern. disclosin& a5 applia￿e. Mat￿r$ related to goin¥ concern and U￿n8 the going concern basis of accounting unless the dirertors either intend to liquidate the company or to cease operations. or have no rtalisoc alternative but to do $0. Our responslbllitles for thè audit of the financial ststements Our objÈctives are to obtain reasonabl• assurance abou¢ whether the financial sratements as a whole are free from material miss¢aremenL whether due to fraud or error. and to issue a Repor¢ of the Audirors that includes our opinion. ReasOna￿t assurance is a high levd of assuranc4 but is not a guarantee that 3n audSt conducted in accordance with ISAS {UKI will always detect a nllterial misstatement when it exisrs. Mi5s¢atements can arise from fraud or error and are con&dered material if, individually or in the a8g￿881e, they could reasonably be expetted to inlluence thè Èconomic decision5 01 users Taken on thè basis of these financial statements. Irregularitie5. including fraud, are instances of non-compliance laws and regulauons. We dèsign procedures in line with our responsibilities. outlined above, to detett rnareri￿ miss[acemen￿ in rèspÈtt of irregularities. including fraud. The extent to which our prccedures are capable of detec￿nI Irrwlarfoés, including fraud is detailed below: We gained an understanding of the legal and regulatory framework applicable to the company and the indus¢ry in which it operates. and eonsidered the risk ofatts by the company that were contrary to applicable laws and regulations. intluding fraud. We designed audit procedures to respond to the risk recognising that che risk of not detecting a material misstatemeni due to frnud is higher than the risk of not detetting one resulting from error. as fr&ud may involve deliberate conCe￿Ment byb for e¥2rnple, forgery or intention misrepresentations or through cdlusion. The Sussex Cattle Society (A Company Limited by Guarantee) Charity Number 238662 Report of the Independent Auditors to the Members of The Sussex Cattle Society We focussed on law5 and reg(tlaoons which could &ve rise to a materiaj misstatement in the financial statements. including, but noc limited to. the Companies Att 2fy)6 and UK ux Iw"slation. Our ￿$ts included reeing the financial statement disclosures to Undert￿￿g wpporying documentation. enquiries with managemen¢ and enquiries of I￿1 counsel. There are inherent limitations in the audit procedures described above and. the further removed nongement & Admlnlstrarbon of the Charity 41547 3.764 45.311 30.8H 1&096 16.096 11430 Total Expenditur• 57.643 1764 61.407 43.274 Net Incom•lexp¢ndlt¥r¢ b•for• 8alns on ImTestm•nts 4.576 {3.764) 812 IS.￿4 Nèt g•lnsl(IMs¢s) on ￿￿$1m•￿ts Reallsed (Lossl on In¥esrment Asset Unrealised GainllLossesl on Inve5tm¢rti knets 13.435 13,435 9.516 N•t Incom•l•xp•ndltur• i&oii 13.7641 14.247 25,320 Transfers betwe•n funds Transfer to Beefbreeder Supp Fund Nèt Movement In Funds 13.764 14.247 25.320 ft•¢on¢lll*tlon of funds Total fvnds brought lor¥¥*rd 231.630 %687 3,917 24S.734 220,414 TO￿ funds uryl¢d forward 249.641 3.917 259.981 24S.734 The noys fomi F4rt of the flnancfjal rtatements The Sussex Cattle Society Charity Number 238662 Balance Sheet at 31 December 2021 31.1121 31.IL20 Note Flxed A55ets: Tangiblè assÉts Investments 11584 2￿.714 13.347 187.279 213,298 200.626 Current Ass¢ts: Stocks Debtors Cash a¢ bank and in hand 506 8.221 42.686 51.413 10 11.306 37,764 49,658 Creditors: Amounts falling due wlthin one y￿r 4.730 4,550 Not Curr•nt Assets 46.683 45,108 Total Ass•ts L•ss Cuftent Liabilities: 259.981 245,734 Fundi: Be8lbr￿d•rS, Support Fund Contingency promotion fund le membèrs, fund General fund 1.923 4.500 3,917 249.641 5,687 4,500 3.917 231.630 259,981 245,734 ThÈse financial statements have been prepared in accordance thé provisions ol Par¢ I S 91 the Companies Att 2006 relaun8 to small companieL The financil s¢atements w approved by Council on 16 March 2022 and sw)ed sjn its bÈhalf by W Peters lane oward Vice Ch&rnwi Page 10 The Sussex Cattle Society (A Company Limited by Guarantee) Charity Number 238662 Notes to the Financial Statements for the Year Ended 31 December 2021 l. Statutory Information The Sussex Cattle Society is a Priva￿ company, limited by guaranw r4istered in England and Wales. The company's rw'5tered number and rew'stered office address can be found on the Company Inforn￿tiOn page. The presenratyon currency of the financial statemenrs is the Pound S*rling (£). 2. Accounting Policies Accounting convention These financial scatements have been prepared in attor&ance the provisions of Settion IA "Small Encities" of Financial Reporring Standard 102"The Financial Reporring Standards applicable in the UK and Republic of Ireland" the Charities SORP {FRS 102) 'Accounting and Reporting by Charities: Statemen¢ of Recommended Prdccice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l October 2019). and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified for the valuation of investments at market Ydlue. Income Income is recognised in the financial statements on an accruals basi5, apart from investment income. which is recognised in the financial 5tatemenrs when received. Expenditure and cost allocation Expenditure is accounted for on an accruals basis and has been classthed under headings that aggregate all Cosc related to the category. Items of expenditure that involve more than one cost category are apportioned on a just and reasonable basis. Investments The investrnenr5 have been included in the financial statements at market value. Cash at bank and In hand Cash at bank and in hand includes current and deposi¢ accounts held ac banks and COIF Charities Investment Fund. Taxation The company has charirable ststU5 and is not liable for t&xation. Director5 No member of Council received any remuneration during the year. GiftAid It is the policy of the Society to recognise the income tax recovery On￿ the daim has been submitted. The Sussex Cattle Society (A Company Limited by Guarantee) Charity Number 238662 Notes to the Financial Statements for the Year Ended 31 December 2021 Tangible fixed assets Depreciation is provided at the following annual rdtss in order to ￿￿1* off each asset over its estimated useful life. Freehold property Equipment Computer equipmenr - not pro￿ded 15% on a reducing balance - 3 years on a su7ight-line tAsi$ Freehold property The Society's freehold building is not depreciated. Its eXPeC￿d residual value at the end of its useful life Is considered to be substantially in excess of its bcok Ydlue of £9.977. The property is currently insured for £186.872. Stocks Stock is valued at the lower of cost and net realisable fdlu¢ afw ￿￿￿'n8 due allowrtnce for obsolete and slow moving items. Contingency promotlon fund The contingency promotion fund represents sufficient funds set ashle to Promo￿ the breed at maior shows in the event of insufficient monies being rni5ed in any year. Lrfe Members. fund The life members, fund represents sufficient funds set aside to provide benefits ¢0 life members in the event of insufficieni monie5 being raised in the year to do so. Life membership subscripuon5 are included in the roral in the financial sra*ments in the year of receipL Beefbreeeders. Support Fund £10,000 was transferred into this fund on its incorpordtion in November 2012 to encourage the society. breeders to take up Signet Beelbreeder membership. A discount on Capitation Fees will be paid retrospectively for breeders who take up the membership. the discount to recognise weight recording and scanning. A further £ l 0.000 was transferred during 2018. Fund restriction Ail of the funds are unrestricted. Pension costs and other post-retirement benefits The company operates a defined contribution pension scheme. Contributions pardble to the company's pension scheme are charged to profit or loss in the Fviod to wthich they relate. Page 12 The Sussex Cattle Society (A Company Limited by Guarantee) Charity Number 238662 Notes to the Financial Statements for the Year Ended 31 December 2021 Significant estimates and judgements In the application of the Trusi's accounting wlicie& the Truscees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on histori(al experience and other factors thac are considered relerdnL Actual results may differ from these estimates. The estimatrs and underlying assumpts'ons are reviewed on an onp'ng ba515. Revisions to accounting estimates are recognised in the period to which the estimatr is rewsed if the revision affects only that period or in the period of the revision and future period5 if the revision affects both current and future periods. The key sources of estimacion uncertainty that have a significant effect on the amounts recognised in the financial statemenrs are the depreciation rate and residual *dlue5 of fixed assets. The Trustees consider that the depreciaiion ra￿ and residual Ydlues are appropriite. Going Concern The Trustees consider chat the Trust will be in a position ro meet its financial obligations for the foreseeable fuwre and that there are no material uncertainries relating to golng concern. Page 13 The Sussex Cattle Society Charity Number 238662 Notes to the Financial Statements for the Year Ended J I D￿ember 2021 Other Income 31.1121 7.918 20 {159) 4,608 27,759 31.1120 &094 130 92 5,468 27.109 Herd book entries Prefixes Herd Book & Sundry sales Trnnsfer fees Herd capiration Show and sales comffmssions Export cerrificate5 and sales leyy Semen projett Gift Herd competytion 3CQ 3,289 242 39.435 H,196 Charltabl• Exp•ndlture 31.12.21 31.IL20 General Fund Salariès Travelling expens¢5 Promotions antj publicity Herd Book printing Semen proSett DNA testing Depreciauon Loss on disp¢)saJ 21.648 16 13.783 969 1218 2.150 679 21,091 4.807 843 1.755 41.547 29.264 B¢elbreeders' Support Fund Signet Subsidy 3.764 3.764 1.5 1.580 Total 45.311 30,844 Management and Administration of the Charity 31.12.21 1405 1863 9,(M)3 1.825 31.12.20 1343 1699 5.588 Salaries Office costs General office costs Audii and accountar Bad debts 16.096 11430 Page 14 The Sussex Cattle Sodety Charity Number 238661 Notes eo the Financial Statements for the Year Ended 31 December 2021 Income and Expendi￿re The income and surplus ar• to the charitsble a£￿tieS of the company after charyni. 31.12.21 31.12.20 DeprecSarlon - owr*d assets Loss on disposal Auditols remuneration 679 1.825 1.825 Tan8ible Fixed Assets Freehold Property Equipment Medali Totals Coit: A¢ I january 2021 Additions Disposals A¢ 31 December 2021 28.961 9.9TI 18.784 11.12n 27,834 (1.127) 17,657 9.977 D•precl4tlon: Ar I january 2021 Char8e for year Eliminated on disposal At 31 December 2021 15.614 679 11.0431 15.25Q 15.614 679 (1,043) 15.250 Net Book Value: 31 December 2021 11584 9.977 1407 2rJJ 31 December 2020 13.347 9.977 3.170 The freehold property owned by the Charity was at £175.{￿ by Lambert & Foster in May 2017 and is currendy in$ured for £18&8n Pyl5 The Sussex Cattle Society Charity Number 238662 Notes to the Financial Statements for the Year Ended 31 December 2021 Fixed Asset Investments Cost or Valuation: At l January 2021 Addiuons Disposa15 Surplus on révaluats'on Loss on disposal At 31 Decembtr 2021 187.279 13.435 2CQ.714 Net Book Valu•: 31 December 2021 2C*).714 31 Dacember 2020 187.279 31.12.21 31.12.20 Markec value of Investmenrs list¢d on recognised stock Lx¢han¥e 2CQ.714 187.279 The orional cox ol ¢he invesrmenu wa5 £140,000 {31 Decejthr 2020 £140.(K)O) Stocks 31.12.21 31.12.20 S¢ock of promot10n￿ items $06 10. Debtors: Amounts falling du¢ within one year 31.1121 31.12.20 Prepayments Trade debtors 1268 5.953 1,708 9.598 8.221 11,306 P4e 16 The Sussex Cattle Society Charity Number 238662 Notes to the Financial Statements for the Year Ended 31 December 2021 Creditor5: Amounts falling due within one year 31.12.21 31.12.20 Trade c￿l¢or5 4.730 4,550 4.730 4.550 12. Employee Costs 31.12.21 31.12.20 Salaries and vnges National insurdnce 23.352 21752 Pension 701 24.053 23.434 The averagt number of ￿0yeeS during the year was l. Truité•s R•mun•ration The trustees are n¢x remunernted. 14. Related Party TAn*attlons There are no relaced party Wdnsattlons during the year. I S. P•nslon Commltments The company reached ics S￿n¥ date lor Auto Enrolm￿r ￿ l FebnAry 2017. Concributions by thè company were £701 12020 16821. At the year WTyloy contributyons of £nil 12020 £nill had not been paid acrou ro the schem 16. Llmlted Llablllty The compiny rs Limited by Glrdrantee. The word 'kn"miref is orTMrred by Licence of the Board of Trade. The company has no share capital and the likn.liry of the members 15 limited. In the event ol the coryjany bwng wound up the liability for eath stall not exceed £1. Page 17 The Su$$ex Cattle Soclety Charity Number 238662 Profrt and Lo55 A¢¢ount for the Year Ertded 31 Dec*m￿r 2Q21 31.12.21 31.12.20 Income: Subscriptyons and donaiitsr Herd book eThtries Prefues Herd book & Sundry 5ale5 Trgnsler fees 11684 7.918 20 11591 4,608 27,759 14,049 6.094 130 Herd capitation Show5 & sales Eornrnimions Export cerrifica￿l and sales le4y Special promouon Semen projett GIft￿d 27.109 3&) Herd competition account 242 53.484 Other Incom¢: Invesrmenr income S336 5.S45 49 Deposit account interest 5.339 61219 5.594 59,078 Exp•ndltUM: Salaries Pension Travelling expense5 Office costs General office costs Audir and a<¢ouffttsn ad debts Promoitons & p￿blICity Herd 80ok printing Somen project &8net subsidy DNA testing 23.352 21752 16 1863 9,CQ3 1.825 1699 13.783 969 1218 3.764 Iiso 4,W7 843 1.755 42,506 16.572 .575 Depreciation: Equipment Loy4 on disposal 679 763 Net Profitl(L05s) 15,804 PagE 18