Devon Cattle Breeders’ Society (A Charitable Company Limited by Guarantee)
Annual Report and Financial Statements
For the Year Ended 31 December 2021
Company Number: 00019605 Charity Registered in England and Wales Number: 248836
Devon Cattle Breeders’ Society Contents For the Year Ended 31 December 2021
| Page | |
|---|---|
| Contents | 1 |
| Reference and Administrative Details | 2 |
| Trustees’ Annual Report | 3 - 6 |
| Independent Examiner’s Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 - 19 |
Prepared By Albert Goodman LLP
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Devon Cattle Breeders’ Society Reference and Administrative Details For the Year Ended 31 December 2021
Trustees and Directors
| Trustees and Directors | ||
|---|---|---|
| Mr D M Barker | (appointed 6 May 2021) | |
| Mrs S P May | (appointed 6 May 2021) | |
| Mr G J Summerhayes | (appointed 6 May 2021) | |
| Mr N J Wakely | (appointed 6 May 2021) | |
| Mr R P Atkins | ||
| Mr D J Barker | ||
| Mrs B G Clamp | ||
| Mr M Cowell | ||
| Mr H Dart | ||
| Mrs M I Elliott | ||
| Mr R P F Florey | ||
| Mr T J Hooper | ||
| Mr G M Hunter | ||
| Mr A J Lane | ||
| Mr D Martin | ||
| Mr J May | ||
| Mr R May | ||
| Mrs G T Phillips | ||
| Mr S B Phillips | ||
| Mr J R Stanbury | ||
| Mr M T Yeandle | ||
| Mr R D Youngman | ||
| Mr R Gove | (resigned 6 May 2021) | |
| Miss R S Hurd | (resigned 6 May 2021) | |
| Mrs E D Roper | (resigned 6 May 2021) | |
| Mr A J Thomas | (resigned 6 May 2021) | |
| Mrs J V Cleave | (appointed 13 August 2020 & | |
| resigned 18 January 2021) | ||
| Principal Office and Registered Office | Unit 1, The Stable Yard | |
| Woodhayes Farm | ||
| Honiton | ||
| Devon | ||
| EX14 4TP | ||
| Independent Examiner | Michelle Ferris FCA | |
| Albert Goodman LLP | ||
| Goodwood House | ||
| Blackbrook Park Avenue | ||
| Taunton | ||
| Somerset | ||
| TA1 2PX |
Prepared By Albert Goodman LLP
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Devon Cattle Breeders’ Society Trustees’ Report For the Year Ended 31 December 2021
The trustees, who are also directors for the purposes of the Companies Act, present their report and the unaudited financial statements of the charity for the year ended 31 December 2021, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Structure, governance and management
Devon Cattle Breeders’ Society (“DCBS”) was incorporated as a company limited by guarantee on 25 March 1884 and is governed by the memorandum and articles of association at that date, amended by special resolutions dated 30 January 1925, 7 December 1928, 28 April 1933, 30 March 1951, 15 May 1951, 16 February 1954, 11 September 1990, 17 April 2008 and 24 April 2012. It registered as a charity on 18 October 1966.
Devon Cattle Breeders’ Society is directed by a Board of directors who are also the trustees of the charity. The trustees are people drawn from the agricultural and farming community. Nominations for new trustees in each county or district must be received in writing by the Secretary by the date requested in the year of election. Voting on prospective trustees is by postal ballot. Following the count, notice of the prospective trustees must be provided at least 14 days before the AGM. Persons having the highest number of votes in their respective counties or districts shall be declared new trustees at the AGM. At each AGM one third of the trustees retire from office based on their length of service and are unavailable for nomination again for at least one year following the termination of their three year service. Their time is given voluntarily. Meetings are held on a regular basis. The trustees review ongoing activities and also consider new initiatives that might be developed and publicised.
The Board take responsibility for all policy decisions. The minutes of Board meetings constitute the formal records of proceedings and decisions taken and approved by the trustees.
The Board of trustees delegates in a number of operational areas through sub-committees, principally Breed Improvement and Breed Promotion. Both committees are tasked to bring recommendations forward to the Board for its consideration. The Executive Committee consider in detail policy, finance and governance issues, reporting their recommendations to the Board for approval.
Day-to-day operation is delegated mainly to the breed secretary who is authorised to make payments on behalf of the society up to a £1000 limit. The breed secretary provides timely financial reporting to the Board on a quarterly basis. The secretary can refer to the Executive Committee with regards any policy issues arising concerning areas such as compliance, regulation, and finance. The trustees consider the breed secretary to be key management personnel; the role was originally part of a tender process and in the subsequent years, annual reviews are undertaken by the trustees.
The Trustees actively seek to eliminate or mitigate risks to the Society from both internal and external factors. The Trustees formalised their risk management in 2016 with the creation of a Risk Register which is annually reviewed as part of the strategic planning process to ensure that actions and procedures are in place to effectively manage risks. The Trustees delegated the task of the annual review of the Risk Register to the Executive Committee who present an updated Risk Register together with recommendation of actions arising, for approval at the 3rd Quarter meeting of Trustees.
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Devon Cattle Breeders’ Society Trustees’ Report For the Year Ended 31 December 2021
Objectives and activities
The key objects of the charity are:
-
To maintain the purity and improve the breed of Devon Cattle within the United Kingdom of Great Britain and Ireland.
-
To keep the copyright of Davy’s Devon Herd Book.
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To compile and continue to publish the Herd Book of such cattle.
-
To collect, verify, and publish information relating to Devon Cattle, to investigate the pedigree of any animals submitted to the society, and to arbitrate upon and settle disputes, and questions relating to or connected with Devon Cattle if referred by contending parties.
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To hold shows of Devon Cattle and to offer prizes at such shows, or at shows of any other society.
-
Generally to promote the interests of breeders of Devon Cattle.
In practice, this is done by utilising subscriptions, cattle registrations and fund raising income to promote the breed and maintain the Herd Book as main activities.
In setting the objectives and planning the activities of the charity, the trustees have given due consideration, and had regard to the Charity Commission’s guidance on public benefit.
Achievements and Performance
The experiences of 2021 and ongoing into 2022 have resulted in both positives and negatives for the beef sector including the Devon Cattle Breeders Society and whilst we have all been locked down for different periods of time, we have been able to continue to look after all our cattle. At the same time the UK has left the European Union and we are moving forward into an environment with new Government Policies and new environmental rules and regulations, but without the former need for agreement with our European neighbours.
For significant periods of time in 2021 there were no shows, no gatherings and thus very little chance of socialising and this has been a problem for many of us and we all look forward to being able to meet up with our friends and family again.
The Society has two new ladies working in the office who are effectively getting things running smoothly, Theresa Howard and Lisa Weaver and they are both making great efforts. They are currently in the office five days a week and are doing a great job at catching up with outstanding queries and/or problems and should be given our full support.
Looking forward beef prices continue to remain very firm and the demand for beef from native, pasturefed, medium sized cattle is underlined by the interest in our breed and the continuing arrival of new applications for membership of the DCBS.
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Devon Cattle Breeders’ Society Trustees’ Report For the Year Ended 31 December 2021
Financial Review
The Society’s principal source of income from charitable activities has increased by £8,903 to £96,955, and total income of £111,090 versus £92,329 in 2020. On expenditure has increased in line with income totalling £111,393 versus £80,560 in 2020. Net expenditure for 2021 is £303 versus a net income of £11,769 in 2020.
Total reserves stand at more than £195k, comfortably in excess of the Society’s Reserves Policy which requires the trustees to maintain reserves equivalent to 1.25 years operational costs as averaged over the past two years.
Reserves policy
The society’s investment policy is shaped by two key objectives; firstly, to ensure sufficient funds are available to protect the society in times of financial stress caused by factors outside its control, and secondly to enable the society to invest in activities which support its core purpose to maintain and promote the breed. The first objective is met by the trustees’ regular review and monitoring of the society’s risk register and by investment of the majority of funds in low-risk savings accounts, typically maintained at no lower than £120k (equivalent to 1.25 years operational costs as averaged over the past two years). The second objective is met by the trustees’ consideration, as part of the annual budgeting process, of investment in specific initiatives which the trustees believe will support our core purpose of maintaining and promoting the breed, so leading to steady long-term generation of income through growth in membership and registrations.
Reserves for the year are £195k and whilst reserves exceed the minimum stated requirement, the Trustees are satisfied that strategic planning, with particular reference to the creation of the Five Year Plan, is driving effective investment in maintaining, promoting and improving the breed, balanced with the need for prudence given the volatile nature of the farming sector and the as yet unknown challenges and opportunities for the UK farming sector caused by “Brexit”.
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Devon Cattle Breeders’ Society Trustees’ Report For the Year Ended 31 December 2021
Going Concern
After making appropriate enquiries, the board of trustees has a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason it continues to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Statement of Accounting Policies.
Statement of trustees’ responsibilities
The trustees (who are also directors of Devon Cattle Breeders’ Society for the purposes of company law) are responsible for preparing the Trustees' Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
Signed by order of the trustees on 28 April 2022
Mr S B Phillips Director
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Devon Cattle Breeders’ Society Independent Examiners’ Report to the Trustees For the Year Ended 31 December 2021
Independent examiner’s report to the trustees of Devon Cattle Breeders’ Society
I report to the charity trustees on my examination of the accounts of Devon Cattle Breeders’ Society (“the Company”) for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company 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 examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not comply with these records; or
-
the accounts 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 accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Michelle Ferris FCA Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX
Dated: 3 May 2022
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Devon Cattle Breeders’ Society Statement of Financial Activities For the Year Ended 31 December 2021
| Unres- tricted Notes £ Income and endowments Donations 2 47 Charitable activities 3 96,955 Other trading activities 4 9,051 Investment income 1,164 Other income 3,873 Total income 111,090 Expenditure Expenditure on charitable activities 5 111,393 Total expenditure 111,393 Net (expenditure) / income (303) Transfers between funds 10 - Net movement in funds (303) Reconciliation of funds Fund balances at 1 January 2021 194,456 Fund balances at 31 December 21 194,153 |
Res- tricted £ - - - - - - - - - - - 1,292 1,292 |
Total 2021 £ 47 96,955 9,051 1,164 3,873 111,090 111,393 111,393 (303) - (303) 195,748 195,445 |
Unres- tricted £ 169 88,052 2,972 1,108 28 92,329 80,560 80,560 11,769 - 11,769 182,687 194,456 |
Res- tricted £ - - - - - |
Total 2020 £ 169 88,052 2,972 1,108 28 |
|---|---|---|---|---|---|
| - | 92,329 | ||||
| - | 80,560 | ||||
| - | 80,560 | ||||
| - - |
11,769 - |
||||
| - 1,292 |
11,769 183,979 |
||||
| 1,292 | 195,748 | ||||
The results for the year derive from continuing activities and there are no gains or losses other than those shown above.
The statement of financial activities incorporates the income and expenditure account.
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Devon Cattle Breeders’ Society – Company Registration Number: 00019605 Balance sheet As at 31 December 2021
----- Start of picture text -----
Total Total
2021 2020
Notes £ £
Fixed assets
Tangible fixed assets 7 1,466 980
Current assets
Stock 3,619 1,813
Debtors 8 14,005 12,743
Cash at bank and in hand 187,770 188,078
205,394 202,634
Creditors
Amounts falling due within one year 9 (11,415) (7,866)
Net current assets 193,979 194,768
Net assets 195,445 195,748
The funds of the charity
Restricted income funds 10 1,292 1,292
Unrestricted funds 10 194,153 194,456
195,445 195,748
----- End of picture text -----
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
For the year in question, the charitable company was entitled to exemption from an audit under section 477 of the Companies Act 2006.
The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.
The trustees/directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the Board for issue on 28 April 2022 and signed on its behalf by:
Mr S B Phillips Director
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Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2021
1 Accounting policies
1.1 General information and basis of accounting
Devon Cattle Breeders’ Society is a company limited by guarantee incorporated in the United Kingdom under the Companies Act. The address of the registered office is given on page 2. The nature of the charity’s operations and its principal activities are set out in the Trustees report on pages 3-6.
The financial statements have been prepared in accordance with Accounting and reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)- (Charities SORP (FRS 102)) and the Companies Act 2006.
The charity meets the definition of public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Going concern
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Income
Income from donations is recognised upon receipt.
Income from charitable activities is included in the period which the charity is entitled to receipt, it is probable that economic benefits will flow to the entity and the amount can be reliably measured. Where income is received in advance, including subscriptions, income is deferred until the criteria are met. Where income has not been received and services have been provided, income is accrued.
Income from other trading activities includes income relating to sponsorship, fundraising, biannual show and dinner income and is included when income is receivable. Income is shown net of VAT.
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Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2021
1 Accounting policies (continued)
1.4 Expenditure
Expenditure is accounted for on the accruals basis. Liabilities are recognised in the accounting period to which they relate.
Support costs are those functions which assist the work of the charity but do not directly undertake charitable activities. These costs have been allocated to expenditure on charitable activities.
1.5 Fixed assets
Fixed assets are valued at cost less depreciation.
Depreciation is calculated to write off the cost or valuation of fixed assets over their estimated useful lives at the following rate:- Equipment – 25% straight line
1.6 Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.7
Debtors
Trade and other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid.
1.8
Cash at bank and in hand
Cash at bank and in hand comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
1.9
Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.
1.10 Taxation
The company is a registered charity and is therefore not liable to corporation tax to the extent that income and gains are applied to charitable objectives.
1.11 Fund accounting
General funds are unrestricted funds receivable or generated for the objects of the company without further specified purpose and are available as general funds.
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this criterion is charged to the fund, together with a fair allocation of management and support costs.
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Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2021
1 Accounting policies (continued)
1.12 Financial instruments
The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:
Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.
Cash at bank – is classified as a basic financial instrument and is measured at face value.
Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
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Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2021
2 Donations
----- Start of picture text -----
Unres- Res- Total Unres- Res- Total
tricted tricted 2021 tricted tricted 2020
£ £ £ £ £ £
Donations and gift aid 47 - 47 169 - 169
47 - 47 169 - 169
3 Income from charitable activities
Unres- Res- Total Unres- Res- Total
tricted tricted 2021 tricted tricted 2020
£ £ £ £ £ £
- -
Subscriptions 25,431 25,431 30,638 30,638
- -
Cattle registrations 64,345 64,345 49,227 49,227
Classification 1,676 - 1,676 - - -
Promotional items and
open days 684 - 684 317 - 317
Transfer fees and herd
- -
prefixes 4,437 4,437 6,585 6,585
Herd book income 382 - 382 1,285 - 1,285
- -
96,955 96,955 88,052 88,052
----- End of picture text -----
3 Income from charitable activities
4 Other trading activities
| Sponsorship and funding Fundraising Bi-Annual show and sale AGM dinner income |
Unres- tricted £ 8,358 600 712 (619) 9,051 |
Res- tricted £ - - - - - |
Total 2021 £ 8,358 600 712 (619) 9,051 |
Unres- tricted £ 286 250 1,722 714 2,972 |
Res- tricted £ - - - - - |
Total 2020 £ 286 250 1,722 714 |
|---|---|---|---|---|---|---|
| 2,972 | ||||||
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Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2021
5 Expenditure on charitable activities
----- Start of picture text -----
Unres- Res- Total Unres- Res- Total
tricted tricted 2021 tricted tricted 2020
£ £ £ £ £ £
Trade stands at shows 222 - 222 2,292 - 2,292
Bi-Annual show and sale - - - 1,446 - 1,446
Prizes, transport grants
and specials 361 - 361 - - -
Herd book expenses 975 - 975 2,517 - 2,517
- -
Advertising and promotion 9,583 9,583 6,023 6,023
- -
Cattle registrations 6,417 6,417 3,193 3,193
Breed improvement - - - 105 - 105
Donations paid 500 - 500 - - -
- -
Support costs 93,335 93,335 64,984 64,984
- -
111,393 111,393 80,560 80,560
Unres- Res- Total Unres- Res- Total
tricted tricted 2021 tricted tricted 2020
£ £ £ £ £ £
Included in support costs:
AGM dinner expenses - - - 167 - 167
Insurance 3,278 - 3,278 1,218 - 1,218
- -
Serviced office, room hire & rent 11,577 11,577 9,922 9,922
Inspection costs 125 - 125 396 - 396
Motor and travel 1,567 - 1,567 - - -
- -
Secretarial costs (incl wages) 49,484 49,484 38,059 38,059
- -
Postage 2,921 2,921 2,454 2,454
- -
Printing and stationery 5,142 5,142 3,890 3,890
Subscriptions 609 - 609 1,268 - 1,268
Repairs 1,553 - 1,553 865 - 865
- -
Sundry expenses 3,133 3,133 1,803 1,803
Classification 2,783 - 2,783 - - -
Other expenses 68 - 68 133 - 133
Depreciation 713 - 713 513 - 513
- -
Legal and professional 4,767 4,767 1,713 1,713
Independent examination fee 560 - 560 550 - 550
- -
Accountancy & other services 5,055 5,055 2,033 2,033
- -
93,335 93,335 64,984 64,984
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Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2021
6 Wages and salaries
----- Start of picture text -----
Total Total
2021 2020
£ £
Wages and salaries 36,901 36,405
Social security costs - 219
Pension 490 697
Self employed costs 2,785 828
-
Termination payment 9,308
49,484 38,149
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No individual employee was paid over £60,000 (2020: none).
During the year, costs totalling £9,308 were paid to one employee in respect of a settlement agreement and Payment In Lieu of Notice. The amounts are full and final, and no amounts have been accrued at the balance sheet date.
The company secretary, who is considered key management personnel, has received £29,362 (2020: £28,654) for the provision of secretarial services.
| The average number of employees for the year was as follows: 2021 Number of staff 2 ‗‗‗‗‗‗‗7 Tangible fixed assets |
2020 2 ‗‗‗‗‗‗‗Total £ 2,057 1,199 3,256 1,077 713 1,790 1,466 980 |
|---|---|
| Equipment £ Cost At 1 January 2021 2,057 Additions 1,199 At 31 December 2021 3,256 Depreciation At 1 January 2021 1,077 Depreciation charge for the year 713 At 31 December 2021 1,790 Net book value At 31 December 2021 1,466 At 31 December 2020 980 |
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Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2021
8 Debtors
| 8 Debtors |
||
|---|---|---|
| Trade debtors Prepayments Other debtors |
Total 2021 £ 12,475 728 802 14,005 |
Total 2020 £ 11,941 - 802 |
| 12,743 | ||
| 9 Creditors: amounts falling due within one year Trade creditors Accruals and deferred income Other creditors VAT Reconciliation of deferred income : membership subscriptions Opening balance Received during the year Released during the year Closing balance |
Total 2021 £ 537 6,336 73 4,469 11,415 - 25,431 (25,431) - |
Total 2020 £ 3,061 2,436 - 2,369 |
| 7,866 | ||
| 1,690 28,948 (30,638) |
||
| - | ||
9 Creditors: amounts falling due within one year
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Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2021
10 Statement of funds - 2021
----- Start of picture text -----
Opening Incoming Outgoing Transfers Closing
Balance Resources Resources Balance
01/01/21 31/12/21
£ £ £ £ £
Restricted funds
- - -
The Young Rubies Fund 1,292 1,292
Total restricted funds 1,292 - - - 1,292
Unrestricted funds
General 194,456 111,090 (111,393) - 194,153
Total funds 195,748 111,090 (111,393) - 195,445
Statement of funds - 2020
----- End of picture text -----
----- Start of picture text -----
Opening Incoming Outgoing Transfers Closing
Balance Resources Resources Balance
01/01/20 31/12/20
£ £ £ £ £
Restricted funds
- - -
The Young Rubies Fund 1,292 1,292
Total restricted funds 1,292 - - - 1,292
Unrestricted funds
General 182,687 92,329 (80,560) - 194,456
Total funds 183,979 92,329 (80,560) - 195,748
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- The Young Rubies Fund is a fund held for the use of the Young Rubies.
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Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2021
11 Analysis of net assets between funds
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Unres- Res- Total Unres- Res- Total
tricted tricted 2021 tricted tricted 2020
£ £ £ £ £ £
Tangible assets 1,466 - 1,466 980 - 980
Net current assets 192,687 1,292 193,979 193,476 1,292 194,768
194,153 1,292 195,445 194,456 1,292 195,748
----- End of picture text -----
12 Related party transactions
No remuneration has been paid to trustees during the year. Several members of the board of trustees carry out inspections on a voluntary basis and receive no remuneration but are reimbursed travel costs and expenses totalling £662 to two trustees (2020 - none).
During the year no related party transactions occurred. (2020 – no transactions).
13 Company limited by guarantee
The company was incorporated as a company limited by guarantee and has no share capital. The guarantee to the company is £2 per member on the winding up of the company.
14 Operating lease commitments
At 31 December 2021 the charity was committed to making the following future minimum rental payments under non-cancellable leases as follows:
| Operating leases: Premises: Within one year 2-5 years |
Total 2021 £ 7,480 6,233 13,713 |
Total 2020 £ 7,480 13,713 |
|
|---|---|---|---|
| 21,193 | |||
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