2022-12-31-accounts

				Page
Reference and administrative		details ofthe Company,	its Trustees and advisers
Trustees' report				3-12
Independent auditors'	report	on the financial statements		13-17
Statement offinancial	activities			18
Balance sheet				19-20
Statement of cash flows				21
Notes to the financial	statements			22-43

Trustees			Mr AAlderson		(appointed 6 May 2022)	(appointed 6 May 2022)	(appointed 6 May 2022)
			Mr P Delbridge
			DrYPLe Du
			Mr H Dunn
			MrJ Farmer
			Mr A Foulds
			Mr J Geldard	(resigned			6 May 2022)
			Mr D Gregory
			Mr B Griffiths
			Ms K Hovers
			Miss C Hughes		(appointed 6 May 2022)
			Ms A McFadzean			(resigned 24 May 2023)
			Mr P Myles
			Ms P Nicol (appointed				3 May 2023)
			Mr D Phipps
			Mr C Sercombe
			Mr EThomas	(resigned			6 May 2022)
			Mr TWard
Company	registered
number			00037818
Charity registered
numbers			249255 and SC042853
Registered		office	The Sheep Centre
			Malvern
			Worcestershire
			WR13 6PH
Honorary	President		Lord Inglewood
Chief executive officer			Mr P Stocker
Independent		auditors	Bishop Fleming		LLP
			Chartered Accountants
			Statutory Auditors
			1-3College Yard
			Worcester
			WR1 2LB
Bankers			Lloyds Bank pic
			Malvern
			Worcestershire
			WR14 4QG

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Note	2022	2022f	2022 F	2021
Income from:
Donations and legacies			80,340		80,340	53,628
Charitable activities			637,091	76,832	713,923	677,162
Other trading activities			501,131		501,131	38,597
Investments			45,305		45,305	48,210
Other income			17,251		17,251	10,533
Total income			1,281,118	76,832	1,357,950	828,130
Expenditure on:
Charitable activities		9	1,160,012	42,924	1,202,936	839,150
Total expenditure			1,160,012	42,924	1,202,936	839,150
Net income/(expenditure)	before net
(losses)/gains on investments			121,106	33,908	155,014	(11,020)
Net (losses)/gains on investments			(96,713)		(96,713)	90,152
Net income			24,393	33,908	58,301	79,132
Transfers between funds		20	10,004	(10,004)
Net movement in funds before other
recognised gains			34,397	23,904	58,301	79,132
Other recognised gains:
Gains on revaluation offixed assets			140,000		140,000
Net movement in funds			174,397	23,904	198,301	79,132
Reconciliation offunds:
Total funds brought forward			1,763,379	31,188	1,794,567	1,715,435
Net movement in funds			174,397	23,904	198,301	79,132
Total funds carried forward			1,937,776	55,092	1,992,868	1,794,567

		Note	2022f	2021
Fixed assets
Tangible assets		14	171,218	177,099
Investments		16	952,817	959,527
Investment property		15	490,000	350,000
			1,614,035	1,486,626
Current assets
Stocks		17	2,949	3,048
Debtors		18	110,324	83,145
Cash at bank and	in hand		588,327	534,785
			701,600	620,978
Creditors: amounts	falling due within one
year		19	(322,767)	(313,037)
Net current assets			378,833	307,941
Total assets less	current liabilities		1,992,868	1,794,567
Total net assets			1,992,868	1,794,567
Charity funds
Restricted funds		20	55,092	31,188
Unrestricted funds		20	1,937,776	1,763,379
Total funds			1,992,868	1,794,567

			2022	2021
			E	F
Cash flows from operating	activities
Net cash used in operating	activities		94,853	115,854
Cash flows from investing	activities
Dividends, interests and rents from investments			(45,305)	(48,210)
Proceeds from the sale oftangible fixed assets			892	760
Purchase oftangible fixed assets			(3,608)	(6,149)
Proceeds from sale of investments			39,113	193,444
Purchase of investments			(108,757)	(183,441)
Revaluation of investments			76,35¹	(90,152)
Net cash used in investing	activities		(41,311)	(133,748)
Cash flows from financing	activities
Repayments of borrowing				(50,000)
Net cash provided by/(used in) financing		activities		(50,000)
Change in cash and cash	equivalents in	the year	53,542	(67,894)
Cash and cash equivalents	at the beginning	ofthe year	534,785	602,679
Cash and cash equivalents	at the end of	the year	588,327	534,785
The notes on pages 22 to 43form part ofthese financial statements

Land and Building	- 2%-5% Reducing balance
Motor vehicles	- 25% Reducing balance
Fixtures and fittings	- 10-25%on Cost /20-25% Reducing	balance

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2022	2022	2022	2021
			E	E	E	E
Ram Sales			115,696		115,696	111,126
Sheep Farmer Advertising			121,175		121,175	123,352
Other Charitable	Income		37,255	10,327	47,582	37,894
Sustainable Control ofParasites		in Sheep	5,325		5,325	14,394
Membership Services			357,640		357,640	347,035
RoSA project						1,354
RDPE Moredun	project			66,375	66,375	20,400
Erasmus project				130	130	21,607
			637,091	76,832	713,923	677,162
TOTAL 2021			632,801	44,361	677,162

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
		E	F
Fundraising	events	501,131	501,131	38,597
TOTAL 2021		38,597	38,597

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
		f.	F
Rental income		20,339	20,339	20,531
Investment	income	23,595	23,595	27,593
Interest receivable		1,371	1,371	86
		45,305	45,305	48,210
TOTAL 2021		48,210	48,210

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
		E	F	F
Other income		13,398	13,398	9,424
Promotional	items	2,177	2,177	98
P 80 Booking Service		1,676	1,676	1,011
		17,251	17,251	10,533
TOTAL 2021		10,533	10,533

					Unrestricted	Restricted
					funds	funds	Total	Total
					2022	2022	2022	2021
						F	F	F
Breeding	Improvement		Other Costs		98,605		98,605	61,923
Membership		Services	and	Enquiries	124,677		124,677	90,368
Education	and Promotion			Other Costs	574,283	42,924	617,207	527,233
Fundraising		Costs			362,447		362,447	159,626
					1,160,012	42,924	1,202,936	839,150
TOTAL 2021					785,682	53,468	839,150

					Activities
					undertaken	Support	Total	Total
					directly	costs	funds	funds
					2022	2022	2022	2021
					F		F	F
Breeding	Improvement		Other Costs		98,605		98,605	61,923
Membership		Services	and	Enquiries	14,965	109,712	124,677	90,368
Education	and Promotion			Other Costs	211,715	405,492	617,207	527,233
Fundraising		Costs			239,831	122,616	362,447	159,626
					565,116	637,820	1,202,936	839,150
TOTAL 2021					335,599	503,551	839,150

		Breeding	Membership	Education
		Improveme	Services	and
		nt Other	and	Promotion	Fundraising	Total	Total
		Costs	Enquiries	Other Costs	Costs	funds	funds
		2022	2022	2022	2022	2022	2021
		F	F	F		F
SCOPS				2,352		2,352	2,283
Sheep Farmer
costs				57,777		57,777	67,171
Design and
Printing				28,374		28,374	13,933
Next Generation
Ambassadors				9,615		9,615	4,471
Branding and
Merchandise				1,302		1,302	1,090
Moredun Initiative				7,500		7,500	7,501
Regional
Secretaries 8
Officers fees				58,099		58,099	57,308
Membership
Promotion			14,965			14,965	5,574
Ram sale
expenses		86,192				86,192	52,928
Storage of
Semen		10,945				10,945	8,481
P80
Expenditure		1,468				1,468	514
Subscriptions	for
other bodies				3,492		3,492	2,631
Awards and
Donations				280		280	1,050
Costs of
generating
funds					239,831	239,831	64,855
RoSA project				323		323	3,818
RDPE Moredun
project				32,602		32,602	40,470
Erasmus project				9,999		9,999	1,521
		98,605	14,965	211,715	239,831	565,116	335,599
TOTAL 2021		61,923	5,574	203,247	64,855	335,599

			Membership	Education
			Services	and
			and	Promotion	Fundraising	Total	Total
			Enquiries	Other Costs	Costs	funds	funds
			2022 K	2022 F	2022 f	2022 E	2021 F
Staff costs			75,871	228,050	84,796	388,717	329,129
Governance -Staff costs				53,556		53,556	44,881
Depreciation			1,638	6,164	1,830	9,632	9,751
Printng, Photocopying,		Postage
&Stationery			13,219	26,937	14,774	54,930	22,740
General office expenses			555	2,092	621	3,268	272
Telephone, Computer		&
Website			3,994	15,035	4,463	23,492	28,148
Travelling expenses	&
Subsistences			6,773	25,501	7,571	39,845	20,408
Rates, Utilities 8 Insurance			3,502	13,181	3,913	20,596	19,939
Property Repairs			1,737	6,536	1,940	10,213	2,723
Legal &Professional			530	1,994	592	3,116	1,682
Accountancy			108	1,466	121	1,695	3,994
Bank Charges			1,434	5,396	1,602	8,432	3,294
Bad Debts			351	1,322	393	2,066	3,061
Governance - Audit Fees				12,135		12,135	10,575
Board and AGM Meeting Costs				6,127		6,127	2,954
			109,712	405,492	122,616	637,820	503,551
TOTAL 2021			84,794	323,986	94,771	503,551

Fees payable to the Company's	auditor for the audit ofthe Company's
annual accounts

2022f	2021
12,135	10,575

					2022	2021
					E	F
Wages and	salaries				328,438	277,500
Social security costs					32,106	26,677
Contribution	to defined	contribution		pension schemes	28,173	24,952
Wages and	salaries included		within	governance	53,556	44,881
					442,273	374,010

				2022	2021
				No.	No.
Employees				15	13
The charity paid regional secretaries	on an honorarium	and subcontractor	basis:
				2022	2021
				No.	No.
Regional Secretaries and Officers				11	11
Ram Sales Secretaries and Officers				3	5
Regional Event Managers				2	2
				16	18

	Freehold	Motor	Fixtures and
	property	vehicles	fittings	Total
	F	F	F
COST OR VALUATION
At 1 January 2022	247,517	9,430	114,058	371,005
Additions			3,608	3,608
Disposals			(892)	(892)
At 31 December 2022	247,517	9,430	116,774	373,721
DEPRECIATION
At 1 January 2022	92,567	9,273	92,066	193,906
Charge for the year	3,267	39	6,183	9,489
On disposais			(892)	(892)
At 31 December 2022	95,834	9,312	97,357	202,503
NET BOOK VALUE
At 31 December 2022	151,683	118	19,417	171,218
At 31 December 2021	154,950	157	21,992	177,099

	Freehold
	investment
	property
	F
VALUATION
At 1 January 2022	350,000
Surplus on revaluation	140,000
At 31 December 2022	490,000

	Listed	Unlisted
	investments	investments	Total
	K	F	F
COST OR VALUATION
At 1 January 2022	666,315	293,212	959,527
Additions	109,823		109,823
Disposals	(28,079)	(6,228)	(34,307)
Revaluations	(48,261)	(33,965)	(82,226)
AT 31 DECEMBER 2022	699,798	253,019	952,817
NET BOOK VALUE
AT 31 DECEMBER 2022	699,798	253,019	952,817
AT 31 DECEMBER 2021	666,315	293,212	959,527
STOCKS
		2022	2021
		F	F
Goods for resale		2,949	3,048

		2022	2021
DUE WITHIN	ONE YEAR
Trade debtors		73,267	44,837
Other debtors		21,072	20,700
Prepayments	and accrued income	15,985	17,608
		110,324	83,145

		2022	2021
		E	F
Trade creditors		32,405	36,526
Other taxation and social security		21,032	8,910
Other creditors		27,270	17,577
Accruals and deferred	income	242,060	250,024
		322,767	313,037

						Balance at
	Balance at 1					31
	January			Transfers	Gains/	December
	2022	Income	Expenditure	in/out	{Losses)	2022
			E	f.	E	f.
UNRESTRICTED
FUNDS
DESIGNATED
FUNDS
Central Region	18,346		(2,413)	(1,400)		14,533
Cymru Region	224,411	6,062	(14,660)	(1„400)	(19,998)	194,415
Eastern Region	29,113	5,946	(3,843)	(1,400)		29,816
Marches Region	13,586		(2,386)	1,600		12,800
Northern Region	55,772	3,060	(10,107)	(1,400)		47,325
Northern Ireland
Region	42,657	6,650	(15,490)	4,600		38,417
Scottish Region	6,982	182,278	(121,244)	(1,400)		66,616
South East
Region	2,698	12,363	(6,631)	(1,400)		7,030
South West
Region	16,322	1,600	(8,169)	(1,400)		8,353
South West Ram
Sales	76,729	5,686	(3,820)	(500)	(6,890)	71,205
Wales 8 Border
Ram Sales	155,973	126,204	(137,941)		(13,967)	130,269
	642,589	349,849	(326,704)	(4,100)	(40,855)	620,779
GENERAL FUNDS
General Funds	1,120,790	931,269	(833,308)	14,104	(55,85&)	1,176,997
Revaluation
reserve					140000	140000
	1,120,790	931,269	(833,308)	14,104	84,142	1,316,997
TOTAL
UNRESTRICTED
FUNDS	1,763,379	1,281,118	(1,160,012)	10,004	43,287	1,937,776

						Balance at
	Balance at					31
	1 January			Transfers	Gains/	December
	2021	Income	Expenditure	in/out	(Losses)	2021
			F	E		E
UNRESTRICTED
FUNDS
DESIGNATED
FUNDS
Central Region	19,523	2,359	(4,066)	530		18,346
Cymru Region	239,478	5,611	(12,003)	(30,110)	21,435	224,411
Eastern Region	35,050		(5,937)			29,113
Marches Region	10,425	1,539	(3,628)	5,250		13,586
Northern Region	74,095	1,575	(18,268)	(1,630)		55,772
Northern Ireland
Region	41,369		(9,447)	10,735		42,657
Scottish Region	483		(18,131)	24,630		6,982
South East Region		5,000	(2,597)	295		2,698
South West Region	16,222	30	(1,830)	1,900		16,322
South West Ram
Sales	74,347	5,343	(3,736)	(5,115)	5,890	76,729
Wales 8 Border
Ram Sales	170,895	117,064	(129,323)	(18,230)	15,567	155,973
	681,887	138,521	(208,966)	(11,745)	42,892	642,589
GENERAL FUNDS
General Funds	1,014,903	627,989	(576,716)	7,354	47,260	1,120,790
Revaluation
reserve
	1,014,903	627,989	(576,716)	7,354	47,260	1,120,790
TOTAL
UNRESTRICTED
FUNDS	1,696,790	766,510	(785,682)	(4,391)	90,152	1,763,379

RESTRICTED	RESTRICTED
FUNDS
British Heritage
Sheep		7,876	1,000	(400)	(7,374)		1,102
Echinococcus
Parasite	in Farm
Dogs		899			(899)
Lameness	Study	1,219			(1,219)
DBEIS		7,663			(7,663)
iSage		988			(988)
RoSA			1,354	(3,818)	2,464
RDPE			20,400	(40,470)	20,070
Erasmus			21,607	(1,521)			20,086
Welsh
Government
Grant			10,000				10,000
Job Retention
Scheme			7,259	(7,259)
		18,645	61,620	(53,468)	4,391		31,188
TOTAL OF
FUNDS		1,715,435	828,130	(839,150)		90,152	1,794,567

						Balance at
	Balance at 1					31
	January			Transfers	Gainsl	December
	2022 f	Income	Expenditure f	in/out E	(Losses)f	2022
Designated
funds	642,589	349,849	(326,704)	(4,100)	(40„855)	620,779
General funds	1,120,790	931,269	(833,308)	14,104	84,142	1,316,997
Restricted funds	31,188	76,832	(42,924)	(10,004)		55,092
	1,794,567	1,357,950	(1,202,936)		43,287	1,992,868

						Balance at
	Balance at					31
	1 January			Transfers	Gains/	December
	2021	Income	Expenditure	in/out	(Losses)	2021
		F	F		F
Designated
funds	681,887	138,521	(208,966)	(11,745)	42,892	642,589
General funds	1,014,903	627,989	(576,716)	7,354	47,260	1,120,790
Restricted funds	18,645	61,620	(53,468)	4,391		31,188
	1,715,435	828,130	(839,150)		90,152	1,794,567

	Unrestricted	Restricted	Total
	funds	funds	funds
	2022	2022	2022
	F	F	F
Tangible fixed assets	171,218		171,218
Fixed asset investments	952,817		952,817
Investment property	490,000		490,000
Current assets	624,235	77,365	701,600
Creditors due within one year	(300,494)	(22,273)	(322,767)
TOTAL	1,937,776	55,092	1,992,868

	Unrestricted	Restricted	Total
	funds	funds	funds
	2021f	2021 F	2021 F
Tangible fixed assets	177,099		177,099
Fixed asset investments	959,527		959,527
Investment property	350,000		350,000
Current assets	575,678	45,300	620,978
Creditors due within one year	(298,925)	(14,112)	(313,037)
TOTAL	1,763,379	31,188	1,794,567

					2022	2021
						F
Net income for the	year (as	per Statement	of Financial Activities)		58,301	79,132
ADJUSTMENTS FOR:
Depreciation charges					9,489	9,751
Depreciation on disposals					(892)	(608)
Dividends, interests	and rents from investments				45,305	48,210
Decrease in stocks					99	99
Decrease/(increase)	in debtors				(27,179)	3,875
(Decrease)llncrease	in creditors				9,730	.(24,605)
NET CASH PROVIDED BYOPERATING ACTIVITIES					94,853	115,854
ANALYSIS OF CASH AND		CASH EQUIVALENTS
					2022	2021
					F
Cash in hand					588,327	534,785
TOTAL CASH AND	CASH	EQUIVALENTS			588,327	534,785
ANALYSIS OF CHANGES		IN NET DEBT
				At 1		At 31
				January		December
				2022	Cash flows	2022
					F	F
Cash at bank and in	hand			534,785	53,542	588,327

non-cancel	labl	e operating leases as follows:
			2022f	2021f
Not later than		1 year	2,684	4,023
Later than	1 year and not later than 5years		4,921	837
			7,605	4,860