##
|Reference and administrative|Reference and administrative|details ofthe Company,|its Trustees and advisers|1-2|
|---|---|---|---|---|
|Trustees' report||||3-14|
|Independent
auditors'|report|on the financial statements||15-19|
|Statement offinancial|activities|||20|
|Balance sheet||||21|
|Statement ofcash flows|||||
|Notes to the financial|statements|||23-44|
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||||||As restated|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
|||2020|2020|2020|2019|
||Note|R|||F|
|INCOME FROM:||||||
|Donations
and legacies||39,154|12,753|51,907|89,5?5|
|Charitable
activities||501,382|4,016|505,398|605,490|
|Other trading
activities||34,748||34,748|495,646|
|Investments||44,714||44,714|41,721|
|Other income||27,644||27,644|33,597|
|TOTAL INCOME||647,642|16,769|664,411|1,266,029|
|EXPENDITURE ON:||||||
|Charitable
activities||T17,?83|16,730|734,513|1,278,452|
|TOTAL EXPENDITURE||?17,783|16,?30|734,513|1,278,452|
|NET (EXPENDITURE)/INCOME||||||
|BEFORE NET (LOSSES)/GAINS ON||||||
|INVESTMENTS||(TD,141)|39|(70,102)|(12,423)|
|Net (losses)/gains
on investments||(4,166)||(4,166)|120,793|
|NET MOVEMENT
IN FUNDS||(74,307)|39|(74~8)|108,370|
|RECONCIUATION
OF FUNDS:
Total funds brought~||1,?T1,09T|18,606|1,789,703|1,681,333|
|Net movement
in funds||(74,307)|39|(74+68)|108,370|
|TOTAL FUNDS CARRIED FORWARD||1,696,790|18,645|1,715,435|1,?89,?03|
##
##
|||||As restated|
|---|---|---|---|---|
||||2020|2019|
|||Note|F.||
|FIXEDASSETS|||||
|Tangible assets||14|180,853|187,261|
|Investments||16|879,378|905,506|
|Investment
property||15|350,000|350,000|
||||1,410,231|1,442,767|
|CURRENT ASSETS|||||
|Stocks||17|3,14?|3,271|
|Debtors||18|87,01?|115,548|
|Cash at bank and in hand|||602,679|473,411|
||||692,843|592,230|
|Creditors: amounts|falling due within one||||
|year||19|(337,639)|(245,294)|
|NET CURRENT ASSETS|||355,204|346,936|
|TOTAL ASSETS LESSCURRENT|||||
|LIABIUTIES|||1,765,435|1,789,703|
|Creditors: amounts|falling due after more||||
|than one year|||(50,000)||
|NETASSETS EXCLUDING PENSION|||||
|ASSET|||1,715,435|1,789,703|
|TOTAL NET ASSETS|||1,715,435|1,789,703|
|CHARITY FUNDS|||||
|Restricted funds||23|18,645|18,606|
|Unrestricted
funds||23|1)696,790|1,771,097|
|TOTAL FUNDS|||1,715,435|1,789,703|
##
##
|||||As restated|
|---|---|---|---|---|
||||2020f|2019f|
|CASH FLOWS FROM OPERATING|ACTIVITIES||||
|Net cash used in operating
activities|||101,038|98,645|
|CASH FLOWS FROM INVESTING|ACTIVITIES||||
|Dividends,
interests and rents from|investments||(44,714)|{41,271)|
|Purchase of tangible fixed assets|||(3,185)|(12,426)|
|Proceeds from sale ofinvestments|||77,182|19,413|
|Purchase of investments|||(55/19)|(13,901)|
|Revaluation
ofinvestments|||4,166|(120,793)|
|NET CASH USED IN INVESTING ACTIVITIES|||(21,770)|(168,978)|
|CASH FLOWS FROM FINANCING|ACTIVITIES||||
|Cash infiows from new borrowing|||50,000||
|NET CASH PROVIDED BYFINANCING
ACTIVITIES|||||
|CHANGE
IN CASH AND CASH EQUIVALENTS||IN THE YEAR|129,268|{70,333)|
|Cash and cash equivalents
at the beginning
ofthe year|||473,411|543,744|
|CASH AND CASH EQUIVALENTS|AT THE END|OF THE YEAR|602,679|473,411|
|The notes on pages 23to 44 form part ofthese financial statements|||||
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##
||||||As restated|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
|||2020|2020|2020|2019|
|Donations||39,154||39,154|40,902|
|Grants|||||48,673|
|Government|grants||12,753|12,?53||
|||39,154|12,753|51,907|89,575|
|TOTAL 2019AS RESTATED||40,902|48,673|89,575||
##
##
||||||||As restated|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
|||||2020|2020|2020|2019|
|||||||K||
|Ram Sales||||9,356||9,356|127,240|
|Sheep Farmer Advertising||||101,217||101,21?|97,110|
|Other Charitable||Income||40,023|4,016|44,039|17,542|
|Sustainable|Control ofParasites||in Sheep|3,425||3,425||
|Membership|Services|||347,361||34?,361|363,598|
|||||501,382|4,016|505,39&|605,490|
|TOTAL 2019AS||RESTATED||605,490||605,490||
##
##
##
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2020f|2020
K|2019|
|Fundraising|events|34,748|34,748|495,646|
|TOTAL 2019||495,646|495,646||
##
##
||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2020|2020f|2019|
|Rental income|20,515|20,515|19,936|
|investment
income|23,776|23,776|20,609|
|Interest receivable|423|423|1,176|
||44,714|44,714|41,721|
|TOTAL 2019|41,721|41,?21||
##
|||||As restated|
|---|---|---|---|---|
|||Unrestricted|Total|Total|
|||funds|funds|funds|
|||2020|2020|2019|
||||R|E|
|Other income||5,446|5,446|15,310|
|Promotional|items|433|433|367|
|P &0Transport||21,765|21,765|17,920|
|||27,644|27,644|33,597|
|TOTAL 2019AS RESTATED||33,597|33,597||
##
##
##
##
##
##
##
||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|funds|
||||||2020|2020|2020|2019|
||||||E|E|E||
|Breeding improvement|||Other Costs||25,330||25,330|98,313|
|Membership||Services|and|Enquiries|89,485||89,485|96,552|
|Education|and Promotion|||Other Costs|480,153|16,730|496,883|598,314|
|Fundraising||Costs|||122,815||122,815|485,273|
||||||717,783|16,730|734,513|1,278,452|
|TOTAL 2019|||||1,200,206|78,246|1,278,452||
##
##
||||||Actlvltl8S||||
|---|---|---|---|---|---|---|---|---|
||||||undertaken|Support|Total|Total|
||||||directly|costs|funds|funds|
||||||2020|2020|2020|2019|
||||||E|E|E|E|
|Breeding|Improvement||Other Costs||25,330||25,330|98,313|
|Membership||Services|and|Enquiries|4,249|85,236|89,485|96,552|
|Education|and Promotion|||Other Costs|177,650|319,233|496,883|598,314|
|Fundraising||Costs|||27,551|95,264|122,815|485,273|
||||||234,780|499,733|734,513|1,278,452|
|TOTAL 2|01|9|||699,2S2|579,170|1,278,452||
##
##
||||INembers hip|Education||||
|---|---|---|---|---|---|---|---|
|||Breeding|Services|and||||
|||Improvement
OtherCosts|and
Enquiries|Promotion
Other Costs|Fundraising
Costs|Total
funds|Total
funds|
|||2020|2020|2020|2020|2020|2019|
|||||R|f.|||
|SCOPS||||2,217||2+17|1,680|
|iSage
Sheep Farmer costs||||2,028
72,262||2,028
7~2|3,977
63,023|
|Design and Printing||||15,751||15,?51|11,247|
|Next Generation||||||||
|Ambassadors||||3,997||3,997|14,104|
|Branding and||||||||
|Merchandise||||2,859||2,859||
|Moredun
Initiative||||10,000||10,000|10,000|
|DBEISGrant||||||||
|Expenditure||||10,066||10,066|12,863|
|Regional||||||||
|Secretaries|&|||||||
|Officers fees||||55,018||55,018|62,230|
|Membership||||||||
|Promotion|||4,249|||4+A9|1,387|
|Ram sale expenses||864||||864|109,524|
|Storage ofSemen
P &0Expenditure||7,128
17,338||||7,128
1?,338|8,217
14,710|
|Room Hire &||||||||
|Refreshments|||||||26,945|
|Ram Longevity|||||||7,264|
|Subscriptions|for|||||||
|other bodies||||3,092||3,092|3,821|
|Awards and||||||||
|Donations||||360|||5,928|
|Costs ofgenerating||||||||
|funds|||||27,551|27,551|342,362|
|||25,330|4,249|177,650|27,551|234,780|699,282|
|TOTAL 2019||98,313||232,686|342,362|699,282||
##
##
##
|||Membership|Education||||
|---|---|---|---|---|---|---|
|||Services|and||||
|||and|Promotion|Fundraising|Total|Total|
|||Enquiries|Other Costs|Costs|funds|funds|
|||2020|2020
E|2020|2020f|2019|
|Staff costs||65,459|187,733|73,161|326,353|315,374|
|Depreciation||1,654|6,222|1,848|9,724|9,796|
|Printng,
Photocopying,
8 Stationery|Postage|2,058||2,299|12,103|27,579|
|General oflice expenses||1,053|2,776|1,177|5,006|8,988|
|Telephone,
Computer
Website|8|4,698|17,688|5,251|27,637|26,339|
|Travelling expenses 8
Subsistences||3,359|13,474|3,755|20,588|45,311|
|Rates, Utilities 8 Insurance||3,147||3,517|18,511|20,803|
|Property Repairs||367|1,380|410|2,15?|25,730|
|Legal 8 Professional||288|1,083|321|1,692|12,497|
|Accountancy||2,107|7,933|2,355|12,395|8,098|
|Bank Charges||445|1,677|498|2,620|3,832|
|Bad Debts||601|2,263|672|3,536|169|
|Governance
—Audit Fees|||10,075||101075|6,500|
|Governance - Salaries|||46,207||46,20?|68,154|
|Board and AGM Meeting Costs|||1,129||1129||
|||85,236|319,233|95,264|499,?33|579,170|
|TOTAL 2019||96,552|339,707|142,911|579,170||
##
##
|AUDITORS' REMUNERATION||||
|---|---|---|---|
|||2020f|2019
P|
|Fees payable to the Company's|auditor for the audit ofthe Company's|||
|annual accounts||10,075|6,500|
##
##
##
|||||2020||
|---|---|---|---|---|---|
|Wages and|salaries|||281,210|267,589|
|Social security costs||||17,397|25,292|
|Contribution|to defined oontribution||pension schemes|27,'746|22,493|
|Wages and|salaries included|within|governance|46,207|68,154|
|||||372,560|383,528|
||||2020|2019|
|---|---|---|---|---|
||||No.|No.|
|Employees|||13||
|The charity paid regional secretaries on an honorarium|and subcontractor|basis:|||
||||2020|2019|
||||No.|No.|
|Regional Secretaries and Officers||||11|
|Ram Sales Secretaries and Officers||||5|
|Regional Event Managers||||6|
||||10|22|
|||||||2020|2019|
|---|---|---|---|---|---|---|---|
|||||||K||
|Regional Secretaries
Ram Sales Managers
Regional Events Managers||||||30,945
25,500
9,000|33,077
28,600
35,000|
|The number
of employees
E60,000was:|whose|employee|benefits|(exduding|employer|pension
costs)|exceeded|
|||||||2020|2019|
|||||||No.|No.|
|In the band f70,001-f80,000||||||||
##
##
##
##
##
||Freehold|Motor|Fixtures and||
|---|---|---|---|---|
||property|vehicles
f.|fittings|Totalf|
|COST OR VALUATION|||||
|At 1January 2020|247,517|9,430|105,484|362,431|
|Addmons|||3,185|3,185|
|At 31 December 2020|2471517|9,430|108,669|365,616|
|DEPRECIATION|||||
|At 1January 2020|85,803|9,151|80+16|175,170|
|Charge for the year|3,421|70|6,102|9,593|
|At 31December 2020|89,224|9+21|86,318|184,763|
|NET BOOK VALUE|||||
|At 31December 2020|158,293|209|22,351|180,853|
|At 31December 2019|161,714|279|25,268|187,261|
##
##
##
##
##
||Listed|Unlisted||
|---|---|---|---|
||investments|investments|Total|
||E|K|K|
|COST OR VALUATION||||
|At 1 January 2020|635,489|270,018|905,507|
|Additions|55,219||55+19|
|Disposals|(57,182)|(20,000)|P7,182)|
|Revaluations|(20,358)|16,192|(4,166)|
|AT 31 DECEMBER 2020|613,168|266,210|8'7$,378|
|NET BOOK VALUE||||
|AT 31 DECEMBER 2020|613,168|266,210|879,378|
|AT 31 DECEMBER 2019|635,489|270,018|905,507|
|STOCKS||||
|||2020|2019|
||||K|
|Finished goods and goods for resale||3,147|3,271|
##
##
##
##
|DEBTORS|||||||
|---|---|---|---|---|---|---|
||||||2020|2019|
|DUE WITHIN|ONE YEAR||||||
|Trade debtors|||||47,448|54,061|
|Other debtors|||||20,375|17,943|
|Prepayments|and accrued||income||15,862|31,830|
|Gift Aid recoverable|||||3332|11,714|
||||||87,017|115,548|
|CREDITORS: AMOUNTS|||FALUNG DUE WITHIN ONE YEAR||||
||||||2020|2019|
|Trade creditors|||||64,596|63,404|
|Other taxation|and social||security||7&414||
|Other creditors|||||26,807|17,061|
|Accruals and|deferred|income|||238,822|164,829|
||||||337,639|245,294|
|CREDITORS: AMOUNTS|||FALUNG DUE AFTER MORE THAN ONE YEAR||||
||||||2020|2019|
|||||||F|
|Bank loans|||||||
|lnduded
within the above|||are amounts|falling due as follows:|||
|BETWEEN TWO AND||FIVEYEARS|||||
|Bank loans|||||30,000||
|OVER FIVEYEARS|||||||
|Bank loans|||||||
##
##
##
##
||||2020|2019|
|---|---|---|---|---|
|||||E|
|FINANCIAL ASSETS|||||
|Financial assets measured|at fair value through|income and expenditure|602,679|473,411|
##
##
##
##
##
|STATEMENT OF F|UNDS «CURRENT|YEAR|||||
|---|---|---|---|---|---|---|
||Balance at 1|||||Balance at|
||January|||Transfers|Gainsl|31December|
||2020|Income|Expenditure|infout|(Losses)|2020|
|||||||R|
|UNRESTRICTED|||||||
|FUNDS|||||||
|DESIGNATED|||||||
|FUNDS|||||||
|Central Region|23,578||(2+55)|(1,800)||19&523|
|Cymru Region|230,189|13778|(11,352)|(1,800)|8,662|239,478|
|Eastern Region|33,091|12,644|(8,885)|(1,800)||35,050|
|Marches Region|14,840||(3,365)|(1,050)||10,425|
|Northern
Region|83,680||(7,847)|(1,800)||74,095|
|Northern
Ireland|||||||
|Region|46,256|279|(9,366)|4,200||41,369|
|Scottish Region|19,250|2,817|(19,784)|(1,800)||483|
|South East Region|321|1,437|(1,758)||||
|South West Region|23,911|37|(5,926)|(1,800)||16,222|
|South West Ram|||||||
|Sales|76,307|2,737|(2,238)|(1,800)|(659)|74,347|
|Wales 8 Border|||||||
|Ram Sales|182,756|13,205|(32,096)|(500)|7,530|170,895|
||734,179|46,997|(104,872)|(8,950)|15,533|681,887|
||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||Balance at 1|||||31|
|||January|||Transfers|Gainsl|December|
|||2020|Income|Expenditure|in/out|(Losses)|2020|
|||E|E|E|E|E|E|
|GENERAL|FUNDS|||||||
|General Funds||1,036,918|600,645|(612,S11)|9,950|{19,899)|1,014,903|
|TOTAL||||||||
|UNRESTRICTED||||||||
|FUNDS||1,771,097|647,642|(717,783)||(4,166)|1,698,790|
||||||||Balance at|
|||Balance at 1|||||31|
|||January|||Transfers|Gainsl|December|
|||2020|Income|Expenditure|in/out|{Losses)|2020|
|||E|E|E|E|E|E|
|RESTRICTED||||||||
|FUNDS||||||||
|British Heritage||||||||
|Sheep||8,825|1,000|(1,S49)|||7,876|
|Echlnococcus||||||||
|Parasite|in Farm|||||||
|Dogs||899|||||899|
|Lameness|Study|1/19|||||1+19|
|DBEIS||7,663|||||7,663|
|ISage|||3,018|(2,028)|||S88|
|Job Retention||||||||
|Scheme|Grants||12,753|(12,753)||||
|||18,606|16,769|(16,730)|||18,845|
|TOTAL OF FUNDS||1,789,703|684,411|(734,513)||(4,166)|1,715,435|
##
##
##
##
||Balance as|||||Balance as|
|---|---|---|---|---|---|---|
||restated at|||||restated at|
||1 January|As restated|As restated|Transfers|Gainsl|31December|
||2019|Income|Expenditure|in/out|(Losses)|2019|
||E|F|||E||
|UNRESTRICTED|||||||
|FUNDS|||||||
|DESIGNATED|||||||
|FUNDS|||||||
|Central Region|23.298|12,8Q8|(10,728)|(1,800)||23,578|
|Cymru
Region|148,740|120+71|(58,407)|(1,800)|21,385|230,189|
|Eastern Region|28,380|11,482|(4,971)|(1,800)||33,091|
|Marches Region|19,669|275|(3,304)|(1,800)||14,840|
|Northern
Region|54,Q01|140,642|(109,163)|(1,800)||83,680|
|Northern
Ireland|||||||
|Region|38,426|33.262|(29,382)|3,950||46,256|
|Scottish Region|31,360|101,181|(113,491)|200||19,250|
|South East Region|5,327|5,586|(8,792)|(1,800)||321|
|South West Region|5,949|76,145|(56,883)|(1,300)||23,911|
|South West Ram|||||||
|Sales|62,877|10,431|(3,584)|(500)|7,083|76,307|
|Wales 8 Border|||||||
|Ram Sales|160,83Q|151,492|(148,140)|{1,000)|19,574|182,756|
||578,85?|663,575|(546,845)|(9,450)|48,042|734,179|
|||||||Balance as|
||Balance as|||||restated at|
||restated at|||||31|
||1January|As restated|As restated|Transfers|Gainsl|December|
||2019|Income|Expenditure|in/out|(Losses)|2019|
|||||||R|
|GENERAL FUNDS|||||||
|General Funds - all|||||||
|funds|1,031,159|539,071|(625,?88)|19,725|72,751|1,036,918|
|TOTAL|||||||
|UNRESTRICTED|||||||
|FUNDS|1,610,016|1,202,646|(1,172,633)|10,275|120,793|1,771,097|
##
||||||||Balance as|
|---|---|---|---|---|---|---|---|
|||Balance as|||||restated at|
|||restated at|||||31|
|||1January|As restated|As restated|Transfers|Gains/|December|
|||2019|Income|Expenditure|in/out|(Losses)|2019|
|RESTRICTED||||||||
|FUNDS||||||||
|British Heritage||||||||
|Sheep||13,796|2,293|(7,264)|||8,825|
|Echlnococcus||||||||
|Parasite|in Farm|||||||
|Dogs|||1,174|(275)|||899|
|Lameness|Study||1,432|(213)|||1,219|
|DBEIS|||27,700|(20,037)|||7,663|
|Welsh Commons||||||||
|Forum||10,275|||(10,275)|||
|ISage||47,246|16,074|(63,320)||||
|||71,317|48,673|(91,109)|(10,275)||18,606|
|TOTALOF||||||||
|FUNDS||1,681,333|1,251,319|(1,263,742)||120,793|1,789,703|
##
##
|SUMMARY OF|FUNDS - CURREN|T YEAR|||||
|---|---|---|---|---|---|---|
||Balance as|||||Balance at|
||restated at 1|||||31|
||January|||Transfers|Gains/|December|
||2020|Income|Expenditure|in/out|(Losses)|2020|
||||||R|E|
|Designated|||||||
|funds|734,179|46,997|(104,872)|(9450)|15,533|681,887|
|General funds|1,036,918|600,645|(612,911)|9950|(19699)|1014903|
|Restricted funds|18,606|16,769|(16,730)|||18,645|
||1,789,703|664,411|(734,513)||(4,166)|1,715,435|
##
##
##
##
|SUMMARY OF F|UNDS - PRIOR|YEAR|||||
|---|---|---|---|---|---|---|
||Balance as|||||Balance at|
||restated at|||||31|
||1 January|As restated|As restated|Transfers|Gainsl|December|
||2019|Income|Expenditure|in/out|(Losses)|2019|
|||f.|E|E'|||
|Designated|||||||
|funds|578,857|663,575|(546,845)|(9,450)|48,042|734,179|
|General funds|1,031,159|539,071|(625,7S8)|19,725|72,751|1,036,918|
|Restricted funds|71,317|48,673|(91,109)|(10,275)||1S,606|
||1,6S1,333|1,251,319|(1,263,742)||120,793|1,789,703|
##
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|ANALYSIS OF NET ASSETSBETWEEN FUND|S - CURRENT PERIOD|||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2020f|2020
E|2020|
|Tangible fixed assets|180,853||180,853|
|Fixed asset investments|879,378||879,378|
|Investment
property|350,000||350,000|
|Current assets|653,463|39,380|692,843|
|Creditors due within one year|(316,904)|(20,735)|(337,639)|
|Creditors due in more than one year|(50,000)||(50,000)|
|TOTAL|1,696,790|18,645|1,715,435|
##
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||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2019|2019|2019|
|||E|E|
|Tangible fixed assets|187,261||187,261|
|Fixed asset investments|905,506||905,506|
|Investment
property|350,000||350,000|
|Current assets|558,355|33,875|592,230|
|Creditors due within one year|(230,025)|(15,269)|(245,294)|
|TOTAL|1,771,097|18,606|1,789,703|
##
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|||||||As restated|
|---|---|---|---|---|---|---|
||||||2020|2019|
|||||||E|
|Net
incomelexpenditure
for the|period|(as per|Statement|of Financial|||
|Activities)|||||(74,268)|108,370|
|AluUSTMENTS FOR:|||||||
|Depreciation
charges|||||9,593|9,796|
|Dividends,
interests and rents from|investments||||44,714|41,271|
|Decreasel(increase)
in stocks|||||124|(1,313)|
|Decreasel(increase)
in debtors|||||28,531|(10,541)|
|lncreasel(decrease)
in creditors|||||92,344|(48,938)|
|NET CASH PROVIDED BYOPERATING ACTIVITIES|||||101,038|98,645|
|ANALYSIS OF CASH AND CASH|EQUIVALENTS||||||
||||||2020|2019|
|Cash in hand|||||602,679|473,411|
|TOTAL CASH AND CASH EQUIVALENTS|||||602,679|473,411|
##
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|||At 1||At 31|
|---|---|---|---|---|
|||January||December|
|||2020|Cash flows|2020|
|Cash|at bank and in hand|473,411|129,268|602,679|
|Debt|due alter 1 year||(50,000)|(50,000)|
|||473,411|79,268|552,679|
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|non~ncell|able
operating leases as follows:|||
|---|---|---|---|
|||2020|2019|
|Not later than 1 year||6,399|14,708|
|Later than|1 year and not later than 5years|1,116|7,406|
|Later than|5years||1,209|
|||7,515|23,323|
##