**Devon Cattle Breeders’ Society (A Charitable Company Limited by Guarantee)**
**Annual Report and Financial Statements**
## **For the Year Ended 31 December 2025**
**Company Number: 00019605 Charity Registered in England and Wales Number: 248836**
**Devon Cattle Breeders’ Society** Contents For the Year Ended 31 December 2025
||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 2025
## **Trustees and Directors**
Mr D M Barker (appointed 25/04/2025) Mrs B G Clamp (appointed 25/04/2025) Mr H G Dart Mr R W G Dart (appointed 25/04/2025) Mr G M Hunter Mr C M J Hurd Mr A J Lane Mr D M Martin (appointed 25/04/2025) Mr J W May Mr T W J Oatey Mr J R Stanbury Mr G J Summerhayes Mr A J Thomas (resigned 25/04/2025) Mr T J Wilton (resigned 13/10/2025) Mr S N Barbery (resigned 17/09/2025) Mr R J Gove (resigned 25/04/2025) Miss R S Hurd Mrs E D Roper (resigned 25/04/2025)
## **Principal Office and Registered Office**
**Independent Examiner**
Unit 1, The Stable Yard Woodhayes Farm Honiton Devon EX14 4TP
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 2025
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 2025, 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 2025
## **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**
Members are enjoying better times as confidence and profitability is good in the beef industry as well as the pedigree side.
Another very successful Spring Show and Sale, prices paid increasing, 19 bulls sold with the highest priced bull fetching a whopping 9200gns. Highest price female sold for 3400gns. Increasing entry numbers year on year indicating there is still a strong demand for Devon Cattle and the continuance of the Society Show and Sales.
The directors have been busy again this year building on the success of the Myostatins study and they are now investigating the extent of the polled gene in the breed and the split between heterozygous and homozygous genes. They have started to collaborate with a research company to carry this forward.
Overall, member numbers remain stable with new members joining as older members retire, lots of enquiries looking for Devons showing that Devons are a much sought after native breed.
Beef prices are at a record high, which also has an influence on price and availability of breeding cattle.
Prepared By Albert Goodman LLP
4
**Devon Cattle Breeders’ Society** Trustees’ Report For the Year Ended 31 December 2025
## **Financial Review**
The Society’s principal source of income from charitable activities has increased by £8,774 to £94,898, and total income of £107,305 versus £112,134 in 2024. Expenditure has decreased totalling £93,319 versus £106,165 in 2024. Net income for 2025 is £13,986 versus a net income of £5,969 in 2024.
Total reserves stand at more than £222k, 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 £222k and whilst reserves exceed the minimum stated requirement, the Trustees are satisfied that strategic planning, is driving effective investment in maintaining, promoting and improving the breed forward.
Prepared By Albert Goodman LLP
5
**Devon Cattle Breeders’ Society** Trustees’ Report For the Year Ended 31 December 2025
## **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 23 April 2026
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 2025
## **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 2025.
## **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: 01 May 2026
Prepared By Albert Goodman LLP
7
**Devon Cattle Breeders’ Society** Statement of Financial Activities For the Year Ended 31 December 2025
|**Unres-**
**tricted**
**Notes**
**£**
**Income and endowments**
Donations
2
542
Charitable activities
3
94,898|**Unres-**
**tricted**
**Notes**
**£**
**Income and endowments**
Donations
2
542
Charitable activities
3
94,898|**Res-**
**tricted**
**£**
-
-|**Total**
**2025**
**£**
542
94,898|**Unres-**
**tricted**
**£**
355
86,124|**Res-**
**tricted**
**£**
-
-|**Total**
**2024**
**£**
355
86,124|
|---|---|---|---|---|---|---|
|Other trading activities
4|3,826|-|3,826|15,155|-|15,155|
|Investment income
**Total income**
**Expenditure**
Expenditure on charitable|8,039
107,305|-
-|8,039
107,305|10,500
112,134|-|10,500|
||||||-|112,134|
||||||||
|activities
5|93,319|-|93,319|106,165|-|106,165|
|**Total expenditure**
**Net (expenditure) / income**
Transfers between funds
10
**Net movement in funds**
**Reconciliation of funds**
Fund balances at 1 January
2025
**Fund balances at 31**
**December 25**|93,319
13,986
-
**13,986**
207,129
**221,115**|-
-
**-**
1,110
**1,110**|93,319
13,986
-
**13,986**
208,239
**222,225**|106,165
5,969
-
**5,969**
201,160
**207,129**|||
||||||-|106,165|
||||||-
-|5,969
-|
||||||**-**
1,110|**5,969**
202,270|
||||||**1,110**|**208,239**|
||||||||
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 2025
**----- Start of picture text -----**
Total Total
2025 2024
Notes £ £
Fixed assets
Tangible fixed assets 7 312 221
Current assets
Stock 3,496 4,697
Debtors 8 7,146 4,815
Cash at bank and in hand 219,170 206,340
229,812 215,852
Creditors
Amounts falling due within one year 9 (7,899) (7,834)
Net current assets 221,913 208,018
Net assets 222,225 208,239
The funds of the charity
Restricted income funds 10 1,110 1,110
Unrestricted funds 10 221,115 207,129
222,225 208,239
**----- 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 23 April 2026 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 2025
## **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 2025
## **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 2025
## **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 2025
## **2 Donations**
**----- Start of picture text -----**
Unres- Res- Total Unres- Res- Tot
tricted tricted 2025 tricted tricted 202
£ £ £ £ £
Donations and gift aid 542 - 542 355 - 35
542 - 542 355 - 35
**----- End of picture text -----**
## **3 Income from charitable activities**
|Subscriptions
Cattle registrations
Classification
Promotional items and
open days
Transfer fees and herd
prefixes
Herd book income
**4**
**Other trading activities**|**Unres-**
**tricted**
**£**
24,726
63,750
417
167
4,788
1,050
94,898|**Res-**
**tricted**
**£**
-
-
-
-
-
-
-|**Total**
**2025**
**£**
24,726
63,750
417
167
4,788
1,050
94,898|**Unres-**
**tricted**
**£**
24,499
53,947
426
352
5,865
1,035
86,124|**Res-**
**tricted**
**£**
-
-
-
-
-
-
-|**Total**
**2024**
**£**
24,499
53,947
426
352
5,865
1,035|
|---|---|---|---|---|---|---|
|||||||86,124|
||||||||
|Sponsorship and funding
Fundraising
Bi-Annual show and sale
AGM dinner income|**Unres-**
**tricted**
**£**
520
402
1,149
1,755
3,826|**Res-**
**tricted**
**£**
-
-
-
-
-|**Total**
**2025**
**£**
520
402
1,149
1,755
3,826|**Unres-**
**tricted**
**£**
12,075
1,230
42
1,808
15,155|**Res-**
**tricted**
**£**
-
-
-
-
-|**Total**
**2024**
**£**
12,075
1,230
42
1,808|
|||||||15,155|
||||||||
## **Devon Cattle Breeders’ Society**
Prepared By Albert Goodman LLP
13
Notes to the Financial Statements For the Year Ended 31 December 2025
## **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|**Unres-**
**tricted**
**£**
1,951
1,201
1,163
697
2,498
2,496
3,347
79,966
93,319
**Unres-**
**tricted**
**£**
2,436
2,798
11,716
883
45,580
1,747
5,674
891|**Res-**
**tricted**
**£**
-
-
-
-
-
-
-
-
-
**Res-**
**tricted**
**£**
-
-
-
-
-
-
-
-|**Total**
**2025**
**£**
1,951
1,201
1,163
697
2,498
2,496
3,347
79,966
93,319
**Total**
**2025**
**£**
2,436
2,798
11,716
883
45,580
1,747
5,674
891|**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|**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|
|Repairs|1,729|-|1,729|1,818|-|1,818|
|Sundry expenses
Classification
Other expenses
Depreciation
Legal and professional
Independent examination fee
Accountancy & other services|76
555
682
284
1,900
620
2,395
79,966|-
-
-
-
-
-
-
-|76
555
682
284
1,900
620
2,395
79,966|89
856
459
421
1,900
600
2,063
80,896|-
-
-
-
-
-
-
-|89
856
459
421
1,900
600
2,063|
|||||||80,896|
## **Devon Cattle Breeders’ Society**
Prepared By Albert Goodman LLP
14
Notes to the Financial Statements For the Year Ended 31 December 2025
## **6 Wages and salaries**
**----- Start of picture text -----**
Total Total
2025 2024
£ £
Wages and salaries 44,616 44,850
Pension 964 932
45,580 45,782
**----- End of picture text -----**
No individual employee was paid over £60,000 (2024: none).
The company secretary, who is considered key management personnel, has received £21,565 (2024: £24,711) for the provision of secretarial services.
|The average number of employees for the year was as follows:
**2025**
**2024**
Number of staff
2
2
`‗‗‗‗‗‗‗`
`‗‗‗‗‗‗‗`
**7**
**Tangible fixed assets**
**Equipment**
**Total**
**£**
**£**
**Cost**
At 1 January 2025
3,620
3,620
Additions
375
375
At 31 December 2025
3,995
3,995
**Depreciation**
At 1 January 2025
3,399
3,399
Depreciation charge for the year
284
284
At 31 December 2025
3,683
3,683
**Net book value**
At 31 December 2025
312
312
At 31 December 2024
221
221|The average number of employees for the year was as follows:
**2025**
**2024**
Number of staff
2
2
`‗‗‗‗‗‗‗`
`‗‗‗‗‗‗‗`
**7**
**Tangible fixed assets**
**Equipment**
**Total**
**£**
**£**
**Cost**
At 1 January 2025
3,620
3,620
Additions
375
375
At 31 December 2025
3,995
3,995
**Depreciation**
At 1 January 2025
3,399
3,399
Depreciation charge for the year
284
284
At 31 December 2025
3,683
3,683
**Net book value**
At 31 December 2025
312
312
At 31 December 2024
221
221|
|---|---|
|**Equipment**
**£**
**Cost**
At 1 January 2025
3,620
Additions
375
At 31 December 2025
3,995
**Depreciation**
At 1 January 2025
3,399||
|Depreciation charge for the year|284|
|At 31 December 2025
**Net book value**
At 31 December 2025
At 31 December 2024|3,683
312
221|
## **Devon Cattle Breeders’ Society**
Prepared By Albert Goodman LLP
15
Notes to the Financial Statements For the Year Ended 31 December 2025
## **8 Debtors**
**----- Start of picture text -----**
Total Total
2025 2024
£ £
Trade debtors 4,408 1,831
Prepayments 925 1,052
Other debtors 1,813 1,932
7,146 4,815
**----- End of picture text -----**
- **9 Creditors: amounts falling due within one year**
**----- Start of picture text -----**
Total Total
2025 2024
£ £
Trade creditors 232 380
Accruals and deferred income 2,520 2,416
Other creditors 2,007 2,226
VAT 3,140 2,812
7,899 7,834
**----- End of picture text -----**
## **Devon Cattle Breeders’ Society**
Prepared By Albert Goodman LLP
16
Notes to the Financial Statements For the Year Ended 31 December 2025
## **10 Statement of funds - 2025**
**----- Start of picture text -----**
Opening Incoming Outgoing Transfers Closing
Balance Resources Resources Balance
01/01/25 31/12/25
£ £ £ £ £
Restricted funds
- - -
The Young Rubies Fund 1,110 1,110
Total restricted funds 1,110 - - - 1,110
Unrestricted funds
General 207,129 107,305 (93,319) - 221,115
Total funds 208,239 107,305 (93,319) - 222,225
Statement of funds - 2024
Opening Incoming Outgoing Transfers Closing
Balance Resources Resources Balance
01/01/24 31/12/24
£ £ £ £ £
Restricted funds
- - -
The Young Rubies Fund 1,110 1,110
Total restricted funds 1,110 - - - 1,110
Unrestricted funds
General 201,160 112,134 (106,165) - 207,129
Total funds 202,270 112,134 (106,165) - 208,239
**----- End of picture text -----**
- 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 2025
## **11 Analysis of net assets between funds**
**----- Start of picture text -----**
Unres- Res- Total Unres- Res- Total
tricted tricted 2025 tricted tricted 2024
£ £ £ £ £ £
Tangible assets 312 - 312 221 - 221
Net current assets 220,803 1,110 221,913 206,908 1,110 208,018
221,115 1,110 222,225 207,129 1,110 208,239
**----- End of picture text -----**
## **12 Related party transactions**
No remuneration has been paid to trustees during the year (2024- 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, one trustee was reimbursed travel costs totalling £41, and three trustees were paid show grants totalling £380 (2024 – none).
During the the year no related party transactions occurred, other than those noted above (2024 – 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 2025 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**
**2025**
**£**
8,367
15,340
23,707|**Total**
**2024**
**£**
8,367
23,707|
|---|---|---|---|
||||32,074|
|||||
Prepared By Albert Goodman LLP
18