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2024-12-31-accounts

Devon Cattle Breeders’ Society (A Charitable Company Limited by Guarantee)

Annual Report and Financial Statements

For the Year Ended 31 December 2024

Company Number: 00019605 Charity Registered in England and Wales Number: 248836

Devon Cattle Breeders’ Society Contents For the Year Ended 31 December 2024

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 2024

Trustees and Directors

Mr S N Barbery Mr H G Dart (appointed 14/05/2024) Mr R J Gove Mr G M Hunter Mr C M J Hurd (appointed 14/05/2024) Miss R S Hurd Mr A J Lane Mr J W May (appointed 14/05/2024) Mr T W J Oatey Mrs E D Roper Mr J R Stanbury (appointed 14/05/2024) Mr A J Thomas Mr T J Wilton (appointed 14/05/2024) Mr D M Barker (resigned 14/05/2024) Mr M Cowell (resigned 09/12/2024) Mr D M Martin (resigned 14/05/2024) Mrs S P May (resigned 14/05/2024) Mr G J Summerhayes (resigned 14/05/2024) Mr N J Wakely (resigned 14/05/2024) Mr M T Yeandle (resigned 14/05/2024)

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 2024

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 2024, 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 2024

Objectives and activities

The key objects of the charity are:

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 Devon Cattle Breeders’ Society is delighted that His Majesty the King retained his patronage of the Society on his succession to the throne.

A successful Spring Show and Sale was held at Sedgemoor Auction Centre which saw prices averaging as follows:- bulls £4381; show heifers £1627.50; non-show heifers £1200; cow and calf £1680. The top price bull sold for 8200 gns. The top price female sold for 1800gns.

In 2024 the Society was notified that the Devons were being removed from the Breeds at Risk Register. This is good news as an indicator that the breed is thriving and sought after. Our numbers are hovering just over the deemed “At Risk” limit.

A study into the presence of myostatins in the breed commenced in 2023. On reviewing the results to August 2024 there was an incidence of 22% of the double muscling gene present in the bulls and 12% within the heifers sampled. The board have approved a change to the registration process for bulls.

With effect from 1st January 2025 all bulls will be tested for myostatins as part of the registration process. Bulls with a score of 0 or 1 will be registered with the myostatins result showing on the certificate. Bulls with a score of 2 will not be eligible for registration. This has been done with the intention of ensuring the standards of excellence are maintained within the breed.

Prepared By Albert Goodman LLP

4

Devon Cattle Breeders’ Society Trustees’ Report For the Year Ended 31 December 2024

Financial Review

The Society’s principal source of income from charitable activities has increase by £23,228 to £112,134, and total income of £112,134 versus £88,906 in 2023. Expenditure has increased totalling £106,165 versus £94,760 in 2023. Net income for 2024 is £5,969 versus a net expenditure of £5,854 in 2023.

Total reserves stand at more than £208k, 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 £208k 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 2024

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:

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 24 April 2025

Mr A J Lane Director

Prepared By Albert Goodman LLP

6

Devon Cattle Breeders’ Society Independent Examiners’ Report to the Trustees For the Year Ended 31 December 2024

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 2024.

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

Date: 9 May 2025

Prepared By Albert Goodman LLP

7

Devon Cattle Breeders’ Society Statement of Financial Activities For the Year Ended 31 December 2024

Unres-
tricted
Notes
£
Income and endowments
Donations
2
355
Charitable activities
3
86,124
Other trading activities
4
15,155
Investment income
10,500
Total income
112,134
Expenditure
Expenditure on charitable
activities
5
106,165
Total expenditure
106,165
Net (expenditure) / income
5,969
Transfers between funds
10
-
Net movement in funds
5,969
Reconciliation of funds
Fund balances at 1 January
2024
201,160
Fund balances at 31
December 24
207,129		 Res-
tricted
£
-
-
-
-
-
-
-
-
-
1,110
1,110		 Total
2024
£
355
86,124
15,155
10,500
112,134
106,165
106,165
5,969
-
5,969
202,270
208,239		 Unres-
tricted
£
193
83,055
4,055
1,603
88,906
94,610
94,610
(5,704)
-
(5,704)
206,864
201,160		 Res-
tricted
£
-
-
-
-		 Total
2023
£
193
83,055
4,055
1,603
- 88,906
150 94,760
150 94,760
(150)
-		 (5,854)
-
(150)
1,260		 (5,854)
208,124
1,110 202,270

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 31 December 2024

----- Start of picture text -----
Total Total
2024 2023
Notes £ £
Fixed assets
Tangible fixed assets 7 221 642
Current assets
Stock 4,697 7,367
Debtors 8 4,815 4,232
Cash at bank and in hand 206,340 198,062
215,852 209,661
Creditors
Amounts falling due within one year 9 (7,834) (8,033)
Net current assets 208,018 201,628
Net assets 208,239 202,270
The funds of the charity
Restricted income funds 10 1,110 1,110
Unrestricted funds 10 207,129 201,160
208,239 202,270
----- 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 24 April 2025 and signed on its behalf by:

Mr A J Lane Director

Prepared By Albert Goodman LLP

9

Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2024

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 2024

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 2024

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 2024

2 Donations

----- Start of picture text -----
Unres- Res- Total Unres- Res- Total
tricted tricted 2024 tricted tricted 2023
£ £ £ £ £ £
Donations and gift aid 355 - 355 193 - 193
355 - 355 193 - 193
3 Income from charitable activities
Unres- Res- Total Unres- Res- Total
tricted tricted 2024 tricted tricted 2023
£ £ £ £ £ £
- -
Subscriptions 24,499 24,499 24,877 24,877
- -
Cattle registrations 53,947 53,947 49,574 49,574
Classification 426 - 426 1,376 - 1,376
Promotional items and
open days 352 - 352 74 - 74
Transfer fees and herd
- -
prefixes 5,865 5,865 5,946 5,946
Herd book income 1,035 - 1,035 1,208 - 1,208
- -
86,124 86,124 83,055 83,055
----- End of picture text -----

Sponsorship and funding
Fundraising
Bi-Annual show and sale
AGM dinner income		 Unres-
tricted
£
12,075
1,230
42
1,808
15,155		 Res-
tricted
£
-
-
-
-
-		 Total
2024
£
12,075
1,230
42
1,808
15,155		 Unres-
tricted
£
25
1,124
280
2,626
4,055		 Res-
tricted
£
-
-
-
-
-		 Total
2023
£
25
1,124
280
2,626
4,055

Prepared By Albert Goodman LLP

13

Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2024

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
Cattle registrations
Support costs
Included in support costs:
AGM dinner expenses
Insurance
Serviced office, room hire & rent
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
£
2,964
795
714
393
4,569
10,330
5,504
80,896
106,165
Unres-
tricted
£
2,139
3,341
13,080
850
45,782
1,884
5,140
474
1,818
89
856
459
421
1,900
600
2,063
80,896		 Res-
tricted
£
-
-
-
-
-
-
-
-
-
Res-
tricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2024
£
2,964
795
714
393
4,569
10,330
5,504
80,896
106,165
Total
2024
£
2,139
3,341
13,080
850
45,782
1,884
5,140
474
1,818
89
856
459
421
1,900
600
2,063
80,896		 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
1,900
588
2,162
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
1,900
588
2,162
79,376

Prepared By Albert Goodman LLP

14

Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2024

6 Wages and salaries

----- Start of picture text -----
Total Total
2024 2023
£ £
Wages and salaries 44,850 42,701
Pension 932 469
45,782 43,170
----- End of picture text -----
No individual employee was paid over £60,000 (2023: none).
The company secretary, who is considered key management personnel, has received £24,711
(2023: £22,708) for the provision of secretarial services.
The average number of employees for the year was as follows: 2024
2023
Number of staff 2
2
‗‗‗‗‗‗‗ ‗‗‗‗‗‗‗
7 Tangible fixed assets
Equipment Total
£ £
Cost
At 1 January 2024 3,620 3,620
Additions - -
At 31 December 2024 3,620 3,620
Depreciation
At 1 January 2024 2,978 2,978
Depreciation charge for the year 421 421
At 31 December 2024 3,399 3,399
Net book value
At 31 December 2024 221 221
At 31 December 2023 642 642

Prepared By Albert Goodman LLP

15

Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2024

8 Debtors

----- Start of picture text -----
Total Total
2024 2023
£ £
Trade debtors 1,831 2,482
Prepayments 1,052 943
Other debtors 1,932 807
4,815 4,232
----- End of picture text -----

9 Creditors: amounts falling due within one year

----- Start of picture text -----
Total Total
2024 2023
£ £
Trade creditors 380 583
Accruals and deferred income 2,416 2,310
Other creditors 2,226 2,077
VAT 2,812 3,063
7,834 8,033
----- End of picture text -----

Prepared By Albert Goodman LLP

16

Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2024

10 Statement of funds - 2024

Restricted funds
The Young Rubies Fund
Total restricted funds
Unrestricted funds
General
Total funds
Statement of funds - 2023
Restricted funds
The Young Rubies Fund
Total restricted funds
Unrestricted funds
General
Total funds		 Opening
Balance
01/01/24
£
1,110
1,110
201,160
202,270		 Incoming
Resources
£
-
-
112,134
112,134		 Outgoing
Transfers
Resources
£
£
-
-
-
-
(106,165)
-
(106,165)
-		 Closing
Balance
31/12/24
£
1,110
1,110
207,129
208,239
Opening
Balance
01/01/23
£
1,260
1,260
206,864
208,124		 Incoming
Resources
£
-
-
88,906
88,906		 Outgoing
Transfers
Resources
£
£
(150)
-
(150)
-
(94,610)
-
(94,760)
-		 Closing
Balance
31/12/23
£
1,110
1,110
201,160
202,270

Prepared By Albert Goodman LLP

17

Devon Cattle Breeders’ Society Notes to the Financial Statements For the Year Ended 31 December 2024

11 Analysis of net assets between funds

----- Start of picture text -----
Unres- Res- Total Unres- Res- Total
tricted tricted 2024 tricted tricted 2023
£ £ £ £ £ £
Tangible assets 221 - 221 642 - 642
Net current assets 206,908 1,110 208,018 200,518 1,110 201,628
207,129 1,110 208,239 201,160 1,110 202,270
----- End of picture text -----

12 Related party transactions

No remuneration has been paid to trustees during the year (2023- 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. During the year, no trustees were reimbursed travel costs and expenses (2023 – three trustees totalling £586).

During the year no related party transactions occurred. (2023 – 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 2024 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
2024
£
8,367
23,707
32,074		 Total
2023
£
8,367
32,074
40,441

Prepared By Albert Goodman LLP

18