**Devon Cattle Breeders’ Society (A Charitable Company Limited by Guarantee)**
## **Annual Report and Financial Statements**
## **For the Year Ended 31 December 2023**
**Company Number: 00019605 Charity Registered in England and Wales Number: 248836**
**Devon Cattle Breeders’ Society** Contents For the Year Ended 31 December 2023
||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 - 18|
Prepared By Albert Goodman LLP
1
**Devon Cattle Breeders’ Society** Reference and Administrative Details For the Year Ended 31 December 2023
## **Trustees and Directors**
|**Trustees and Directors**|||
|---|---|---|
||Mr S N Barbery|(appointed 20/04/2023)|
||Mr D M Barker||
||Mr M Cowell|(appointed 20/04/2023)|
||Mr R J Gove||
||Miss R S Hurd||
||Mr G M Hunter||
||Mr A J Lane||
||Mr D M Martin||
||Mrs S P May||
||Mr T W J Oatey|(appointed 20/04/2023)|
||Mrs E D Roper||
||Mr G J Summerhayes||
||Mr A J Thomas||
||Mr N J Wakely||
||Mr M T Yeandle||
||Mr R P Atkins|(resigned 20/04/2023)|
||Mr D J Barker|(resigned 20/04/2023)|
||Mr H Dart|(resigned 20/04/2023)|
||Mr T J Hooper|(resigned 20/04/2023)|
||Mrs G T Phillips|(resigned 20/04/2023)|
||Mr S B Phillips|(resigned 20/04/2023)|
||Mr J W May|(resigned 20/04/2023)|
||Mr R P F Florey|(resigned 10/05/2023)|
||Mr A N Cottey|(resigned 11/10/2023)|
|**Principal Office and Registered Office**|Unit 1, The Stable Yard||
||Woodhayes Farm||
||Honiton||
||Devon||
||EX14 4TP||
|**Independent Examiner**|Michelle Ferris BSc (Hons) FCA DChA||
||Albert Goodman LLP||
||Goodwood House||
||Blackbrook Park Avenue||
||Taunton||
||Somerset||
||TA1 2PX||
Prepared By Albert Goodman LLP
2
**Devon Cattle Breeders’ Society** Trustees’ Report For the Year Ended 31 December 2023
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 2023, 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.
Prepared By Albert Goodman LLP
3
**Devon Cattle Breeders’ Society** Trustees’ Report For the Year Ended 31 December 2023
## **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.
- 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.
- 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**
Another busy year for the Society, 2023 saw beef prices remain at record highs, giving much confidence to the industry. Our Spring Show and Sale saw a total clearance of bulls with an average price of over £4,300 being a breed record for our society.
Trends are still indicating that farmers are leaning towards native breeds that are easier to manager and more economical to feed.
The DCBS committees have been busy implementing two reviews.
The first is a cow weight study to clarify what the average live weight of a Devon cow to have current statistics.
The second review is to establish if there is a presence of double muscling in the breed. A 6-month review has taken place to test for the gene within the Random Sampling program for heifers and sampling some of the bulls when going through the registration process. The results are anonymised for the breed improvement committee. It is early days and the review is expected to continue for another six months to ensure enough sampling to make robust decisions. The purpose of this is to protect the integrity of the breed.
Membership fees have remained at the same levels for eight years. Cost saving and increased efficiency have enabled us to do this without adverse effects on the Society’s profitability.
Highlights for the Society were the Classification Open Day, kindly hosted by Graham and Anita Summerhayes. This resulted in adjustments to the scoring to ensure the classification is more specific to the Devon breed.
There was also a Trainee Judges Day kindly hosted by Simon and Grania Phillips where judges and trainee judges were given the opportunity to judge and practice giving feedback to competitors and the public.
A highly enjoyable and informative open day was held at the winner of the 2023 Herd Competition enterprise in Warminster, kindly hosted by Jim and Joe Dufosee.
Prepared By Albert Goodman LLP
4
**Devon Cattle Breeders’ Society** Trustees’ Report For the Year Ended 31 December 2023
## **Financial Review**
The Society’s principal source of income from charitable activities has decreased by £15,406 to £83,055, and total income of £88,906 versus £107,213 in 2022. Expenditure has increased totalling £94,760 versus £94,534 in 2022. Net expenditure for 2023 is £5,854 versus a net income of £12,679 in 2022.
Total reserves stand at more than £202k, 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 £202k 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”.
Prepared By Albert Goodman LLP
5
**Devon Cattle Breeders’ Society** Trustees’ Report For the Year Ended 31 December 2023
## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- 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 18[th] April 2024
**Miss R Hurd** Director
Prepared By Albert Goodman LLP
6
**Devon Cattle Breeders’ Society** Independent Examiners’ Report to the Trustees For the Year Ended 31 December 2023
## **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 2023.
## **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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not comply with these records; or
3. 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
4. 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 BSc (Hons) FCA DChA**
Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX
Dated: 2[nd] May 2024
Prepared By Albert Goodman LLP
7
## **Devon Cattle Breeders’ Society** Statement of Financial Activities For the Year Ended 31 December 2023
|**Unres-**
**tricted**
**Notes**
**£**
**Income and endowments**
Donations
2
193
Charitable activities
3
83,055
Other trading activities
4
4,055
Investment income
1,603
Other income
-
**Total income**
88,906
**Expenditure**
Expenditure on charitable
activities
5
94,610
**Total expenditure**
94,610
**Net (expenditure) / income**
(5,704)
Transfers between funds
10
-
**Net movement in funds**
**(5,704)**
**Reconciliation of funds**
Fund balances at 1 January
2023
206,864
**Fund balances at 31**
**December 23**
**201,160**|**Res-**
**tricted**
**£**
-
-
-
-
-
-
150
150
(150)
-
**(150)**
1,260
**1,110**|**Total**
**2023**
**£**
193
83,055
4,055
1,603
-|**Unres-**
**tricted**
**£**
1,311
98,461
7,260
181
-
107,213
94,502
94,502
12,711
-
**12,711**
194,153
**206,864**|**Res-**
**tricted**
**£**
-
-
-
-
-|**Total**
**2022**
**£**
1,311
98,461
7,260
181
-|
|---|---|---|---|---|---|
|||88,906||-|107,213|
|||94,760||32|94,534|
|||94,760||32|94,534|
|||(5,854)
-||(32)
-|12,679
-|
|||**(5,854)**
208,124||**(32)**
1,292|**12,679**
195,445|
|||**202,270**||**1,260**|**208,124**|
|||||||
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.
Prepared By Albert Goodman LLP
8
**Devon Cattle Breeders’ Society – Company Registration Number: 00019605** Balance sheet As at 31 December 2023
|**Notes**
**Fixed assets**
Tangible fixed assets
7
**Current assets**
Stock
Debtors
8
Cash at bank and in hand
**Creditors**
Amounts falling due within one year
9
Net current assets
Net assets
**The funds of the charity**
Restricted income funds
10
Unrestricted funds
10|7,367
4,232
198,062
209,661
(8,033)|**Total**
**2023**
**£**
642
9,420
7,998
202,789
220,207
(13,085)
201,628
202,270
1,110
201,160
202,270|**Total**
**2022**
**£**
1,002
207,122|
|---|---|---|---|
||||208,124|
||||1,260
206,864|
||||208,124|
|||||
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 18[th] April 2024 and signed on its behalf by:
**Miss R Hurd** Director
Prepared By Albert Goodman LLP
9
**Devon Cattle Breeders’ Society** Notes to the Financial Statements For the Year Ended 31 December 2023
## **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.
Prepared By Albert Goodman LLP
10
**Devon Cattle Breeders’ Society** Notes to the Financial Statements For the Year Ended 31 December 2023
## **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.
Prepared By Albert Goodman LLP
11
**Devon Cattle Breeders’ Society** Notes to the Financial Statements For the Year Ended 31 December 2023
## **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.
Prepared By Albert Goodman LLP
12
**Devon Cattle Breeders’ Society** Notes to the Financial Statements For the Year Ended 31 December 2023
## **2 Donations**
|Donations and gift aid|**Unres-**
**tricted**
**£**
193
193|**Res-**
**tricted**
**£**
-
-|**Total**
**2023**
**£**
193
193|**Unres-**
**tricted**
**£**
1,311
1,311|**Res-**
**tricted**
**£**
-
-|**Total**
**2022**
**£**
1,311|
|---|---|---|---|---|---|---|
|||||||1,311|
||||||||
|**3**
**Income from charitable activities**|||||||
|Subscriptions
Cattle registrations
Classification
Promotional items and
open days
Transfer fees and herd
prefixes
Herd book income|**Unres-**
**tricted**
**£**
24,877
49,574
1,376
74
5,946
1,208
83,055|**Res-**
**tricted**
**£**
-
-
-
-
-
-
-|**Total**
**2023**
**£**
24,877
49,574
1,376
74
5,946
1,208
83,055|**Unres-**
**tricted**
**£**
26,376
62,662
1,112
1,112
4,801
2,398
98,461|**Res-**
**tricted**
**£**
-
-
-
-
-
-
-|**Total**
**2022**
**£**
26,376
62,662
1,112
1,112
4,801
2,398|
|||||||98,461|
||||||||
## **3 Income from charitable activities**
## **4 Other trading activities**
|**4**
**Other trading activities**|||||||
|---|---|---|---|---|---|---|
|Sponsorship and funding
Fundraising
Bi-Annual show and sale
AGM dinner income|**Unres-**
**tricted**
**£**
25
1,124
280
2,626
4,055|**Res-**
**tricted**
**£**
-
-
-
-
-|**Total**
**2023**
**£**
25
1,124
280
2,626
4,055|**Unres-**
**tricted**
**£**
3,400
775
102
2,983
7,260|**Res-**
**tricted**
**£**
-
-
-
-
-|**Total**
**2022**
**£**
3,400
775
102
2,983|
|||||||7,260|
||||||||
Prepared By Albert Goodman LLP
13
**Devon Cattle Breeders’ Society** Notes to the Financial Statements For the Year Ended 31 December 2023
## **5 Expenditure on charitable activities**
|Trade stands at shows
Promotional merchandise
Bi-Annual show and sale
Prizes, transport grants
and specials
Herd book expenses
Advertising and promotion
Breed promotion –
marketing and PR (incl wages)
Cattle registrations
Donations paid
Support costs
**Included in support costs:**
AGM dinner expenses
Insurance
Serviced office, room hire & rent
Inspection costs
Motor and travel
Secretarial costs (incl wages)
Postage
Printing and stationery
Subscriptions
Repairs
Sundry expenses
Classification
Other expenses
Depreciation
Legal and professional
Independent examination fee
Accountancy & other services|**Unres-**
**tricted**
**£**
2,933
228
1,022
1,221
4,550
1,884
-
3,546
-
79,226
94,610
**Unres-**
**tricted**
**£**
2,755
3,942
11,801
-
1,920
43,170
1,366
4,376
819
1,731
197
1,069
1,070
360
2,604
146
1,900
79,226|**Res-**
**tricted**
**£**
-
-
-
-
-
-
-
-
-
150
150
**Res-**
**tricted**
**£**
-
-
-
-
-
-
-
-
-
-
150
-
-
-
-
-
-
150|**Total**
**2023**
**£**
2,933
228
1,022
1,221
4,550
1,884
-
3,546
-
79,376
94,760
**Total**
**2023**
**£**
2,755
3,942
11,801
-
1,920
43,170
1,366
4,376
819
1,731
347
1,069
1,070
360
2,604
146
1,900
79,376|**Unres-**
**tricted**
**£**
4,518
(2,415)
1,595
717
825
3,604
-
2,929
50
82,679
94,502
**Unres-**
**tricted**
**£**
2,460
3,917
12,747
79
3,024
41,485
2,286
5,116
979
694
2,677
731
1,536
828
1,557
588
1,975
82,679|**Res-**
**tricted**
**£**
-
-
-
32
-
-
-
-
-
-
32
**Res-**
**tricted**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Total**
**2022**
**£**
4,518
(2,415)
1,595
749
825
3,604
-
2,929
50
82,679|
|---|---|---|---|---|---|---|
|||||||94,534|
|||||||**Total**
**2022**
**£**
2,460
3,917
12,747
79
3,024
41,485
2,286
5,116
979
694
2,677
731
1,536
828
1,557
588
1,975|
|||||||82,679|
Prepared By Albert Goodman LLP
14
**Devon Cattle Breeders’ Society** Notes to the Financial Statements For the Year Ended 31 December 2023
## **6 Wages and salaries**
|**6**|**Wages and salaries**|||||
|---|---|---|---|---|---|
|||**Total**||**Total**||
|||**2023**||**2022**||
||||**£**||**£**|
||Wages and salaries|42,701||41,060||
||Pension|469||425||
|||43,170||41,485||
||No individual employee was paid over £60,000 (2022: none).|||||
||The company secretary, who is considered key management|personnel, has received £|||22,708|
||(2022: £20,650) for the provision of secretarial services.|||||
||The average number of employees for the year was as follows:||**2023**||**2022**|
||Number of staff||2||2|
|||‗‗‗‗‗‗‗||‗‗‗‗‗‗‗||
|**7**|**Tangible fixed assets**|||||
|||**Equipment**||**Total**||
|||**£**||**£**||
||**Cost**|||||
||At 1 January 2023|3,620||3,620||
||Additions|-||-||
||At 31 December 2023|3,620||3,620||
||**Depreciation**|||||
||At 1 January 2023|2,618||2,618||
||Depreciation charge for the year|360||360||
||At 31 December 2023|2,978||2,978||
||**Net book value**|||||
||At 31 December 2023|642||642||
||At 31 December 2022|1,002||1,002||
|||||||
The company secretary, who is considered key management personnel, has received £22,708 (2022: £20,650) for the provision of secretarial services.
Prepared By Albert Goodman LLP
15
**Devon Cattle Breeders’ Society** Notes to the Financial Statements For the Year Ended 31 December 2023
## **8 Debtors**
|**8**
**Debtors**|||
|---|---|---|
|Trade debtors
Prepayments
Other debtors|**Total**
**2023**
**£**
2,482
943
807
4,232|**Total**
**2022**
**£**
6,111
1,085
802|
|||7,998|
||||
## **9 Creditors: amounts falling due within one year**
|**9**
**Creditors: amounts falling due within one year**|||
|---|---|---|
|Trade creditors
Accruals and deferred income
Other creditors
VAT|**Total**
**2023**
**£**
583
2,310
2,077
3,063
8,033|**Total**
**2022**
**£**
655
4,863
2,211
5,356|
|||13,085|
||||
Prepared By Albert Goodman LLP
16
**Devon Cattle Breeders’ Society** Notes to the Financial Statements For the Year Ended 31 December 2023
## **10 Statement of funds - 2023**
|**Restricted funds**
The Young Rubies Fund
**Total restricted funds**
**Unrestricted funds**
General
**Total funds**
**Statement of funds - 2022**
**Restricted funds**
The Young Rubies Fund
**Total restricted funds**
**Unrestricted funds**
General
**Total funds**|**Opening**
**Balance**
**01/01/23**
**£**|**Incoming**
**Resources**
**£**|**Outgoing**
**Transfers**
**Resources**
**£**
**£**|**Outgoing**
**Transfers**
**Resources**
**£**
**£**|**Closing**
**Balance**
**31/12/23**
**£**|
|---|---|---|---|---|---|
||1,260|-|(150)|-|1,110|
||1,260
206,864
208,124|-
88,906
88,906|(150)
(94,610)
(94,760)|-
-
-||
||||||1,110
201,160|
||||||202,270|
|||||||
|||||||
||**Opening**
**Balance**
**01/01/22**
**£**
1,292
1,292
194,153
195,445|**Incoming**
**Resources**
**£**
-
-
107,213
107,213|**Outgoing**
**Transfers**
**Resources**
**£**
**£**
(32)
-
(32)
-
(94,502)
-
(94,534)
-||**Closing**
**Balance**
**31/12/22**
**£**
1,260|
||||||1,260
206,864|
||||||208,124|
|||||||
- The Young Rubies Fund is a fund held for the use of the Young Rubies.
Prepared By Albert Goodman LLP
17
**Devon Cattle Breeders’ Society** Notes to the Financial Statements For the Year Ended 31 December 2023
## **11 Analysis of net assets between funds**
|Tangible assets
Net current assets|**Unres-**
**tricted**
**£**
642
200,518
201,160|**Res-**
**tricted**
**£**
-
1,110
1,110|**Total**
**2023**
**£**
642
201,628
202,270|**Unres-**
**tricted**
**£**
1,002
205,862
206,864|**Res-**
**tricted**
**£**
-
1,260
1,260|**Total**
**2022**
**£**
1,002
207,122|
|---|---|---|---|---|---|---|
|||||||208,124|
||||||||
## **12 Related party transactions**
No remuneration has been paid to trustees during the year (2022- nil remuneration paid to trustees). 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 £586 to three trustees (2022 – three trustees totalling £280).
During the year no related party transactions occurred. (2022 – 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 2023 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**
**2023**
**£**
8,367
32,074
40,441|**Total**
**2022**
**£**
7,480
36,153|
|---|---|---|---|
||||43,633|
|||||
Prepared By Albert Goodman LLP
18