2020-12-31-accounts - The British Charolais Cattle Society Limited

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CONT N	TS
Notice of	Meeting
Chairman's	Report
Treasurer	's Report
Report of	the Trustees	5-8
Auditors'	Report	9-11
Statement	ofFinancial Activities	12
(incorporating an income and Expenditure
Account)
Balance Sheet
Cash flow	and notes	14-15
Notes to the Financial Statements		16-30

	for th	e year ende	d 31December	2020
					2020	2019
			Unrestricted	Restricted	Total	Total
			fund	fund	funds	funds
		Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies		3	10,250			15,817
Charitable activities
Breed improvement			516,614		516,614	505,564
Other trading activities Investment income		4 5	25@53 ~114 '74		25@53 1143'7~	32,826 125 97ll
Total			666,591		666,591	680,177
EXPENDITURE ON
Raising funds			13,607		13,607	27,692
Charitable activities
Breed improvement			551201		551/01	664,964
Total			564,808		564,808	692,656
Net gains/(losses) on investments			~9ll71)		~9071	~10,223)
NET INCOME/(EXPENDITURE)			92,712		92,7A'	(22,702)
Other recognised ga ins/(losses) Gains on revaluation offixed assets			10957		1$,957	373 )76
Net movement in funds			111,669		111,669	350,474
RECONCILIATION OF	FUNDS
Total funds brought forward			2,936,056		2,936,056	2,585,582
TOTAL FUNDS CARRIED FORWARD			3047,725	-	3,047,725	2936056
CONTINUING OPERATIONS
All income and expenditure	has arisen Irom	continuing	activities.

	BALANCE SHEET 31December 2020
		2020	2019
	Notes
FIXEDASSETS
Intangible assets	14	10,926	16,299
Tangible assets	15	400,911	411,888
Investments	16	2,472 965	2,411,916
		2,884,$02	2,840,103
CURRENT ASSETS
Stocks	17	5,235	5,600
Debtors	18	60,732	49,858
Cash at bank		196977	142776
		262+44	198,234
CREDITORS
Amounts falling due within one year	19	(100,021)	(102/81)
NET CURRENT ASSETS		162923	95953
TOTAL ASSETSLESSCURRENT
LIABILITIES		3,047,725	2,936,056
NET ASSETS		3,047,725	2,936 056
FUNDS
Unrestricted funds		3041725	2 936056
TOTAL FUNDS		3047,725	2 936056

					CASH FLOW STATEMENT
				for	the year ended 31December 2020
						2020		2019
					Notes
Cash flows from operating	activities
Cash generated Irom operations						46	437	96372
Nct cash provided by/(used	in)	operating		activities		46	437	96372
Cash flovrs from investing	activities
Purchase ofintangible fixed	assets							(902)
Purchase oftangible fixed assets						(57817)		(40,724)
Purchase offixed asset invesunents						(97@68)		(80,432)
Saleoffixed asset investments						46$(6		209,971
Interest received							72	168
Dividends received						64	672	78 331
Net cash provided by invcstmg		activities						166412
Change in cash and cash equivalents			in
the reporting period								70,040
Cash and cash equivalents	at	the
beginnhg oftbe reporthsg	period					142	776	72 736
Cash and cash equivalents	at	the end	of
the reporting period						166	677	142 776

OPERATING ACTIVI	TI	ES
				2020f	2019
Net income/(expenditure)		for the reportiug	period (asper the
Statement oi'Financial	Activities)			92,712	(22,702)
Adjustments for:
Depreciation charges				22,167	22,429
Lasses on investments				9,071	10,223
interest received				(72)	(168)
Dividends received				(64,672)	(78,331)
Decrease in stocks				365	657
Increase in debtors				(10,874)	(14,992)
Decrease in creditors				~2+69	~13488
Net cash provided by/(used		in) operations		46,437	96,372

ANALYSIS OFCHANGES IN NET	FUNDS
	At 1.1.20	Cash flow	At 31.12.20
Net cash
Cash at bank	142776	54 01	196,977
	142.,/76	54,201	196,977
	142776	54+81	196977

		NOTES TO THE FINANCIAL STATEMENT for the year ended 31Decentber 20	NOTES TO THE FINANCIAL STATEMENT for the year ended 31Decentber 20	S -continued 20
3,	DONATIONS AND	LEGACIES		2020	2019
	Royal Welsh Pavilion Grants	82 other donations		250 ~10 000	15,817
				10 50	~15 817
	Grants received, included		in the above, are as follows:
				2020	2019
	COVLD Business Support
				~10 000
4.	OTHER TRADING	ACTIVITIES
				2020	2019
	Auction stde income			24,020	29,253
	Saleofpromotional	goods		~1333	~3573
				25,353	32,826
5.	INVESTMENT INCOME
				2020	2019
	Rents received			49,630	47,471
	Listed investment income		(gross)	64,672	78,331
	Bank deposit interest			72	168
				114 74	125970

INCOME FROM	CHA	RITA	BLE ACTIVITIES
				2020	2019
			Activity
Subscriptions receivable			Breed improvement	63,662	65,046
Donations - unallocated		subs	Breed improvement	1,717	2,020
Enrolment fees k, herd
prefixes			Breed improvement	2,100	1,875
Registration fees			Breed improvement	208,640	183,019
F.OT.registration	fees		Breed improvement	19,900	23,700
Transfer fees			Breed improveinent	66160	4,700
Semen royalty scheme			Breed improvement	3,099	2,908
Breedplan mcome			Breed improvement	51/33	51,918
Gift Aid tax refund	&interest		Breed improvement	10/92	11,039
Import admin fees			Breed iinprovement	2,840	2,550
DNA testing			Breed improvement	1060095	126,699
Warranty income			Breed improvement	1,502	2,718
Export certificate fees			Breed improvement	300	359
Solar income			Breed improvement	2,152	2,678
Other breed society	services		Breed improvement	36022	24 335
				516,614	505,564
RAISING FUNDS
Raising donations	and	legacies
				2020	2019
Auction sale expenses				2,724	10,988
Charolais News 4'z	herd	books		2,923	5,596
Regional contributions				4,964	~4662
				~10 611	21 246
Other trading activities
				2020	2019
Purchases				~2996	6446
Aggregate amounts				~13 607	~27 692

	for the year ended 31Decem	for the year ended 31Decem	for the year ended 31Decem	ber 2020
8.	CH4QtITABLE ACTPfITIES COSTS
				Direct	Support
				Costs (see	costs (see
				note 9)	note 10)	Totals
						E
	Breed improvement			531,430	19771	551201
9.	DIRECT COSTSOIi		CHARITABLE ACTIVITIES
					2020	2019
						f,
	Staffcosts Rent„rates, insurance,		cleaning. heat k light		250,'768 34+08	231,488 31,868
	Telephone				6,651	3,965
	Postage				11,793	11/79
	Publicity expenses				20/16	91,083
	Sundries Repairs k maintenance		-building		9,133 4,538	3,818 3,376
	Charolais Youth Printing 4 stationery				4,657	5,413 5,969
	Maintenance ofoNce		equipment		495	492
	Pedigree Cattle I.ivestock Services Computer maintenance 4support				12/25 10,093	29,000 5,344
	Subscriptions				289	1,145
	Herd inspection expenses				819	3,235
	ABRI support				229890	25,051
	Royal We)sh Pavilion		expenses			1,464
	Ultra sound scanning	refunds			9,750 y	l1,700
	Registration calfcredit		notes		6,045	5,510
	DNA SNP testing				90,552	126/96
	Other breed society services				13,741	8,283
	Depreciation				22 167	22 429
					031,430	628 308
10.	SUPPORT COSTS
						Governance
						costs
	Breed improvement					~19 771

Governance costs
			2020	2019
			Breed	Total
			improvement f	activities f.
Auditors' remuneration			5,475	4,950
Auditors' remuneration	for non audit work		2,688	2,073
Legal and professional	fees		7)491	8,164
Directors, staff k, board	navel expenses		~4117	~21 469
			19,771	36,656
NET INCOlUIE/(EXPENDITURE)
Net income/(expenditure)	is stated	after charging/(crediting):
			2020	2019
Auditors' remuneration			5,475	4,9SO
Other non-audit services			2,688	2,073
Depreciation - owned assets			16,794	17,056
Breed improvement amortisation			5+73	S,373
Income from operating Amounts payable under	leases operating	leases	(49,630) ~272	(47,471) 2272

STAFFCOSTS
					2020	2019
						f
Wages and salaries					219~	203,299
Social security costs					16,017	14,026
Other peti sion costs					15465	14 163
					2511768	231 488
The average monthly	number ofanployees		during the year was	as follows;
					2020	2019
Costofgenerating funds					3	3
Management k.administration					4	3
The number ofemployms		whose employee	benefits (exduding	employer pension	costs) exccedcd	f60,000was:
					2020	2019
f70,001 -f&0,000					1	I

INTANGIBLE FIXEDASSETS
	Breed
	unpfovelilent
COST
At 1 January 2020 and 31 December 2020
AMORTISATION
At 1 January 2020 Charge for year	10465 ~573
At 31December 2020	~15 938
NET BOOK VALUE
At 31December 2020	~10 926
At 31December 2019	~16 99

TANGIBLE FIXEDASSETS
	Leasehold		Fixtures
	property		k, fittings
	-Royal	Leasehold	-Royal
	Welsh	property	Welsh
	Pavilion	-NAC	Pavilion
COST
At 1 January 2020	138+27	456,442	6,098
Additions
At 3l December 2020	138827	456 442
DEPRECIATION
At 1 January 2020	86,079	107,263	6,098
Charge for year	6593	491$
At 31December 2020	92,672	112181
NET BOOKVALUE
At 31December 2020	46 155
At 31December 2019	52 748	349,179
	Fixtures
	4,fittings	Computer
	-NAC	equipment	Totals
COST
At 1 January 2020	33,234	22,179	656,780
Additions		5,817	5817
At 31December 2020	33/34	277996	~662 97
DEPRECIATION
At 1 January 2020		12+18	244,892
Charge for year		5+83	16,794
At 31December 2020	33434	17,581	2616$6
NET BOOKVALUE
At 31December 2020		18495	~4M 11
At 31December 2019		9961	411888

FIXKDASSET INVKSTMKNTS
	Listed
	investments
MARKET VALUE
At 1 January 2020	2,411@16
Additions	97@68
Disposals	(55476)
Revaluations	18997
At 31Dcccmber 2020	~479966
NET BOOKVALUE
At 31 December 2020	~24~72 6S
At 31 December 2019	7411916

17.	STOCKS
			2020	2019
				E
	Goods for resale		~55	~5600
18.	DKBTORS:	AMOUNTS FALLING DUE WITHIN ONE YEAR
			2020	2019
	Trade debtors		56,724	45,738
	Prepaymcnts	and accrued income	~4008	~4120
			~60 732	~49 858

CREDITORS	: AMOUNTS FALLING DUE WITHIN	ONE YEAR
		2020 f	2019 f
Trade creditors		36/89	86,634
Social security	and other taxes	4,988	4,337
VAT		5,501	6,360
Other creditors		48/93
Accrued expenses			4,950
		100,ll21	102281

Balance	as at 1 January 2020	28,625
Amounts Amounts	released to income during the year deferred during the year	{28,625) 48,293
Balance	as at 31 December 2020	~48 93

	2020	2019
		f
Within onc year Between one and five years	2472 ~3764	2,272 ~6036
	6,036	8,308

ANALYSIS OFNET ASSETS	BETWEEN FUNDS
			2020	2019
	Unrestricted	Restricted	Total	Total
	fund	fund	fiinds	funds
				f
Fixed assets	411,837		411,837	428,187
Investments	2+727965		2,472,965	2,411,916
Current assets Current liabilities	262,944 ~100021		262,944 ~100ll21	198,234 ~102281)
	3047720		3047 720	2,936,016

MOVEM	EN	T IN FUNDS
						Net
						tnovem cot	At
					At 1.1.20	in funds	31.12.20
						g
Unrestricted		funds
General	fund				2,936,056	111,669	3,047,725
TOTAL	FUNDS			follows;	~293 056	111669	3047725
Net movement		in fiends, included		iu the above are as
				Incoming	Resources	Gains and	Movement
				resources	expended	losses	in funds
						E
Unrestricted		funds
General	fund			666/91	(564408)	9,886
TOTAL	FUNDS			666,591	]55~808)	9SS6	111669
Comparatives		for movement	in	funds
						Net
						movement	At
					At 1.1.19	in funds	31.12.19
Unrestricted		funds
General	fund				2,585,582	350,474	2,936,056
TOTAL	FUNDS				2585,582	350474	2936056

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		g	E	K
Unrestricted	funds
General fund		680,177	(692,656)	362,953	350,474
TOTAL FUNDS		680,177	~692656)	362953	350474

			Net
			inovement	At
		At 1,1.19	in fimds	31.12.20
				f
Unrestricted	funds
General fund		2,585,582	462,143	3,047,725
TOTAL FUNDS		2,565,5112	462 143	3 1147,725

		Incoming	Resources	Gains and	Movement
		resources	expended f	losses f	in funds
Unrestricted	funds
General fimd		1,346,768	(1,257,464)	372,839	462,143
TOTAL FUNDS		1 346766	(1257,4643	372 It39	462 143

		DETAILED STATEMENT OFFINANCIAL ACTIVITIES
		for the year ended 31December 2020
			2020	2019
			f,
INCOME AND ENDOWfVIKNTS
Donations and legacies
Royal Welsh Pavilion	dt.	other donations	250	15,817
Grants			10000
			10/50	15,817
Other trading activ itles
Auction sale income Sale ofpromotional goods			24,020 ~333	29/53 3573
			25@53	32,826
Investment income
Rents received			49,630	47,471
Listed investment income (gross)			64,672	78,331
Bank deposit interest			72	168
			114@74	125,970
Cbaritable activities
Subscriptions receivable			63,662	65,046
Donations - unallocated Enrolment feesk herd Kegistration fees	subs prefixes		13717 2,100 208~	2,020 1,875 183,019
F.O.T.registration fees			19rt00	23,700
Transfer fees			6,960	4,700
Semen royalty scheme			3,099	2,908
Breedplan income			51@33	51,918
Gift Aid tax refund k.	interest		IO+92	11,039
Import admin fees			2,040	2,550
DNA testing			106)095	126,699
Warranty income			1,502	2,718
Export certificate fees			300	359
Solar income			2,152	2,678
Other brccd society services			36,022	24,335
			316614	505 564
Total incoming resources			666+91	680,177
EXPENDITURE
Raising donations and legacies
Auction sale expenses			2)724	10,988
Carried forward			21724	10,988

		for the year ended 31Decem	ber 2020
			2020	2019
Raising donations and		legacies
Brought fora ard			2,724	10,988
Charolais News &herd		books	2,923	5,596
Regional conNbutions			4944	4,662
			10,611	21,246
Other trading activities
Purchase ofpromotional		goods	2,996	6,446
Charitable activities
Wages			219+86	203,299
Social security			16,017	14,026
Pensions			15,465	14,163
Rent, rates, insurance,	cleaning, heat &!ight		34,208	31,868
Telephone			6,651	3,965
Postage			11,793	11,379
Publicity expenses			20,516	9I,083
Sundries			9,133	3,8I8
Repairs &maintenance	—building		4,538	3,376
Charolais Youth Printing &stationery			4,657	5,413 5,969
Maintenance ofoffice	equipment		495	492
Pedigree Cattle Livestock Services			12@25	29,000
Computer maintenance	&support		10,093	5,344
Subscriptions			289	I,I45
Herd inspection experises ABRI support			819 22,890	3,235 25,051
Royal Welsh Pavilion	expenses			1,464
Vltra sound scanning refunds			9,750	I1,700
Registration calfcredit	notes		6,045	5,510
DNA SNP testing			909552	126,296
Other breed society services Amort ofbreed improvement Depreciation ofshort leasehold Depreciation oflong leasehold Depreciation ofcomputer equipment			13,741 5+73 6,593 4,918 3193	8,283 5,373 6,593 4,918 5,545
			531,430	628,308
Support costs
Governance costs
Auditors' remuneration			5,475	4,950
Auditors' remuneration		for non audit work	2,688	2,073
Legal and professional		fees	7,491	8,164
Directors, staff &board		travel expenses	4 117	21 449
			19,771	36,656

	for the year ended 31Decem	ber 2020
		2020	2019
Total resources expended			692 656
Net h)come/(expenditure)	before gains and
losses		101,783	(12,479)
ReaHsed recognised gains and losses Gams/(losses) on fixed asset investments		~9071	~10,223)
Net income/(expeuditnre)		92712	~22 702)