THE BRITISH CHAROLAIS CAThLE SOCIETY LIMITED (A Company Limited by Guarantee) REPORT & FINANCIAL STATEMENTS For the year ended 31 December 2023 CHAROLAIS 'AD6￿lHxM. OSm712024 COMPANIES HtXJSE A19 4194 Notice of the 62. Annual General Meeting to be held on Thursday 20June 2024 at 8 am in the Charolais Marquee Royal Highland Centre, Ingliston. Edinburgh EH28 8NB The British Charolais Cattle Society NOTICE OF THE 62" ANNUAL GENERAL MEETING of THE BRITISH CHAROLAIS CArrLE SOCIEfY LIMITED (Limited by Guarantee) Registered Number 731132 England Registered Charity Number 250018 to be held on Thursday 20 June 2024 at 8am in the Charolais Marquee Royal Hlghland Centre, Ingliston, Edinburgh EH28 8NB with BALANCE SHEET AND ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023 Registered office Avenue M, Stoneleigh Park, Kenilworth, Warwickshire CV8 2RG Telephone: 024 7669 7222 Email= charolais@charolais.co.uk The British Charolais Cattle Society REFERENCE AND ADMINISTRATIVE INFORMATION COUNCIL OF MANAGEMENf 2011 CONTENTS The Members of the Counell or M8DagemeDi for 2023 were *5 folltsws: Notice of Meeting Chaim)an's Report PRESIDENT lex officiol Mr J W Millar {5) Direflfjrs Report of the Trust￿$ 5-8 CHAIRMAN Mr A E Sellick151 Auditors. Repon 9-11 Starem￿t of FinaThc&ai Activiu&s (incorporating an Income and Extudilure Accouni) 12 VICE CHAIRMAN Mr J Paynter {5) HONORARY TREASURER Mr G C Robinson Balance Sheet 13 14-15 Mr D Barker Mr M V Atkinso Mr D Bothwell Mr A J Clark Mr A P Drysdale Mr R J KirntrKr Mr M A Milne Mr5 T Nicoll MrRAOwen Mr W Owen Mr J Price Mr A E Selliek MT R Mcwilliams Mr D Thornley MT B L Williams MT J Paynter Mr N Blyth MrAJSto (3) 5) 4) Southern England Northern F￿£land Northern Ireland Scoiland Nauonal Nauonal Scot]and Sroiland Narionaj Wales Southern Engla￿1 Southem England Northern Ireland Northern En8land Wal¢$ Nonhun IrElatvJ Northern Engla￿1 Northern EnglaThJ Now io the F￿ncIal Sta￿rnents 16-30 PPS Accounts 31-36 (2) (5} (4} Auditors: Harrison. Beale & Owen Ltd Chanered A￿OUnts￿ts and SratllLOry Audiior Highdown House I l Hi8hdown Road LeamIng￿Tr SpaCV31 Ixr (4) (21 (i) 01 BADkers: Nationaj Westminsler Bank pic Royal Priors Branch 59 Parade t￿rnIng[on Spa CV32 4BH (51 (51 Solicitors: Notrs: NUM￿rTeTh. Elm Court. Arden Street. Strarford tjwjn Avon CV37 6PA (l} Retires at AGM 20 2024-eligible for re*lecuon 12) ReLhres at AGM 20 Junt 2024- not eligible for ￿￿1¢¢tiOn (3) Reilred at AGM 22 June 2023 14) Re-appointtd atAGM 22 June 2￿23 (5) Appoinkd ai AGM 22 June 2023 Brokers: NFU Mutual Tidding¢on Road, Strdrford uF¥)n AY Wan¥ick5hiTe. CV37 7BJ COMPANY SECRETARY Mr G C Robinson Registered Offiee: Fund M*ttagers: RathFMTr￿s George House. 50 George Square. Gla$8ow G2 IEH The Briii5h Charolais Cattle S(*iety Ltd Avenue M Sioneleigh Park. Kenilworth Watwi¢kshire CV8 2RG Regiswed Nurnber 731132 Re8is1e￿d Charity Number 25C￿l8 The British Charolais Cattle Society NOTICE IS HEREBY GIVEN that the 62￿ANNuAL GENERAL MEETING of THE BIUTISH CHAROLAIS CATTLE SOCIETY LIMITED (Limited by guarantee) Thursday 20 June 202A in the Charolais Marquee Royal Highland Centre, IngliSt0￿ Edinburgh EH28 8NB AGENDA To read the Notiee eonvening the 62ThlAnnual General Meeting of the Scw. Apologies for abseoce. 3. To approve the Minutes of the 21Y23 61st Annual c￿neral Medin8 of the S¢*kery. 4. To receive amd Consider. aTwJ if approved adopt the Rewt of thE COW￿1] of Managemeni presented by the Chgimian of 5. To re¢eiv¢ and consider. and if aFvToved. adopt the Annual Statement of Acc￿￿[$ and Balance Sheet for the 2023 year and the Auth"ior's Report thefton wrsented by the Honor￿ Trta$u￿[. 6. Election of tThembers ro the CoLknciI of Maoagemeot. 7. Election of President. 8. To appoint Audiiors. 9. To transact any other busines5 of an Ar￿￿21 General Meeting. Page I The British Charolais Cattle Society As my year as sociery Ch2irnian comes ro a close it d(xs noi feel like five minutes 3go we were at the Royal Hthghland lasi year. I woutd fLt5tly like 10 say It has b¢en an honor and a pnvilege ￿ have had the chance io be Charnan of this society. the rnosi enjoyable part been getling to know a g(Myl numt*rof wf members. esthblished and new. young and old. In January of this year Grahattl Robin50D decided that il was litnc for him ￿ srand down 3$ Society Tr￿uTer. Overthe last 10 years Graham has given maThy hours of de(h"caied service ￿ the xKiety and put in more hours than I could even irnagint. Graham has supported a numberof Thaim*n along the way and been a consiment figure f(Y theoffice ream. Groham we thonk you for your years of hatd w¢xk and dedication. l am not sur¢ what you will do to fill your time lyjt l am sure Sue aThJ the f8mRly will sorr that for you. As many of you will know. l am passionate abour oppjrtunities and traiDing fot the next generwioD. The young bT¢ed¢rs day 'ndly hosted by the Ihnger Family was one thai will live long in the merny. li was a tremendous day thai I hope all young breedeTS goi plenty from and imponandy ¢nioye4t thank yw ￿ everyone involved itl the day such a su¢¢ess. I am sure many of the young breeders are 1wkn.ng fixward to this years event to bc kindly hos*d by EsnN)r in North w￿eS on the first weekend of August. The major Sllm￿ shows were well attctKkd by our Charolais brceders and there were sorne quality canle across all the age groups, the kn"ghli8hts for me had io bt the interbreed results. Balrnylc Sandy. the Beef Champion of Champions for the Connolly Family ai Balmoral, ￿"enick Thor Reserve Inierbrt£d Champion at ik Royal Highland. winning the Group of Four the Yorkshire and then a tremendous run of results * th¢ Royal Welsh winning the Team of Five, the Te&n of Three from one Exhibitor for Brailes Lives1￿k aThJ the cOnti￿et)￿l Beef Bre¢deT Yowig Bull Cl￿ for Kevin ThoJll&%. I would like to thaDk those exhibitOTS. siew*d& and judges withoul whom the shows would sittlply not be the Spec￿Cle that Ihey are. In additiotk 10 those you see out in the show ring. a real SFt¢ial thanks Th¢•ls LO be given to those who go over and alM)ve behitKI the Scenes. looking after the stand5 and keeping cxhibiiOfS and memb¢rs a]ike well fed and watered whilst a150 promoting the breed for all our èenefit. Throughout ihe year we have had grxml shows of t￿115 ai the Sales with some strong averages, no doubt undeqjinned by the sttrngih (pf the trade for the Charolais cross cajves through the store ring righi across the Britith Isles. The trne highlight for me was the £8.470 average achieved * Siirling in Ftbruary. bui rn0s1 imwrtanily the strong averages this spring have F*e u￿de￿Ill￿ed by high ckaxance raw, d¢moJwTauDg the styong comJnercial demand. On ihe Subjeci of sa]es we have had two very nothble d￿￿[$31 sai¢s, b)th her(ts detnonsrraied the passion of iwo gcntlefften who were "Charolais to the core" and gave so mlleh noi only (o their own herds bui also the breed as a whole. In August, at the Coolnaslce dispersal in Ba]lymena. the herd drew buyers from all over the Briiish Isles and was re5tamcnt to the high regard in which Mi Crawford was held. November saw the GretnalM)use dispersal and what a day for breed il was: the packed ringside and trernendous caille cuITninated in ￿(or￿ average5 and rtew female breed A fitting tribu* ￿ Ajasd￿.r who had given 5ts much to the Charolais breed and ￿lery over years. November also Saw Sian Sharp ioiD us and what an imrt*thte impaa th had on out *Jvenising and breed prornotiTr). I would like to ihatlk Sian foi the work and ideas she iK*U8ht with her but ￿ many of you know Sian has decided the role is not for her and we wish Sian ail the best for the fijtyjre. As a society one of our kty rolts is io manage the integnty of the herd book. over the past 12 months we have llt)dertsken a number of herd inS￿￿10n5 atld intr￿UCed a new wling that if a calf is not rcgistered with 27 days then il Is eligible io be enteied into a society sale. As we look to the futur¢ it Is iM[￿rraTht thai we are realistic #b￿t the world itt which we att 0￿rating. We have come through one of the lon8est welltst winters we can cver rcmcmE¢r. tr true impxt of which w￿1 ooi t¢ known for a good while with feed and bedding prices likely to b¢ imF4ctyl thi.s coming w1n￿r. To the eDd ol Decemt¢i 2023 yeat on year we are down 2.4% in tern￿ of ulf registraiions and Data frorn AHDB shows that 2023 saw the greatest dttline In female t¢ef breeding ag¢ animojs s¢¢n in over 10 years. Essentiauy we are striving to captwe a larger share of a shrinking mark¢i ro maintain the sla￿$ qL￿. The upside io this, is the dats that is in¢reasing]y slK*wing th¢ imp¥1 the Charolais cattle catl have. AHDB are re8ularly prLKlu¢ing data showhng the Chatolais Coming out on wp of mote of the kty FrrforniatKc indicators thart arty other continental brted. PaBe 2 The British Charolais Cattle Society Ai this poini I would like io this opportunity LO sincertly thank Rusmi aDd the offi¢e ¢¢am for their eonunued hard work in keepithg the s4xiety moving behi￿1 the scenes. The syskms and prttesses are going through a period of mtsdernisaiioTh with the ongoing development of rhe ABRI Syslen￿. from a mernbers ptospt£rive you will have seen the change in the registratioD proces5. Behind the scenes then are bigger changes to ¢onY Is we move OUT accounts system from the Pegasus sysiem ￿ Xero. Ibis thouid make the prrrfiuction of manage￿￿nI acc¢yJnts easier for the offict and thc exec team. Also behilld the sceDes 1$ the woKk being ￿ll￿n￿￿ by the breed ¢kvelopment ¢on)miuee chajred by Arwel Owen. The comrnittee are moving forward to make bttttr usc of the dara availabk to ￿ that we all hope will stsrt to corne into fruition in the coming ytars. Equally I would like io thaThk all of the council rnembtr5 for 8ivin8 UP their time to represent the metnbers. For thrct of us. Allen Drysd31e, Ben Williatns and myself it is lime to step dowll having seryed ow six ye&$ on Countil. thank yokn both for the lime and effort you put in. To the executive c¢)llJllJiuee ol Jereuly Paytster, Iaiti Mill￿. Allen Drysdaje and Gratham Robinson. thank you especially for your ¢(￿Unued dEd1￿10￿ to the s￿lery aThJ the suP￿tt you have given me over the past 12 rnonths. Again looking to the futtwe. over the pasi 12 [r￿nthS I have I￿1 the pleasuK of working with our Vice Chairman Jeremy Paynter. Jeremy brings a huge arnouni of eX￿rier￿ having prtviously chajred our most active club in Northern treland for 2 years. Jcrcmy is a FwpIc'5 person and l am sure will do well in thc rok. LASI bui noi least. l ow¢ a hug¢ thank you to my wrfe Vi¢kie. Mum and Dad. Jill and Viv ￿ maDy of you. and brother Be who have covered for me and supported me over the yeat when I have been away at events. glu¢d io a laFrtop sending emails or ot) the phone. I will always be gratefvl for what you have dorb This concludes my Chairman5 fcFrfXI. Mr A E Sellick Chairn)an Th8ritish Charolais Cattle Society TREASURERS REPORT l arn pleased to ￿ able ￿ repon that 2023 w&% a successful year for the BCCS The balance sheet saw an increase 10 £3.459.074 fTDm £3.168.546. Tr surplus (Yb the day io day adiviu¢5 of the BCCS was £IOlk agaittst a loss of urtthr £lk in 2022. 2￿23 FinaThcial$'. Ai the year end totsi BCCS funth at £3.459.IY1412(122 £3.168.546) The toral iThconY for 2023 was ll28.739 { 2022 £712.624) Membership incornc decrased to £57.70612022 £59.816) Registrauon income income increased 10 £178.053 (21f22 £172.680) Ernbryo transfer registrauon £18.2(K) (2￿22 £20.(ml Dividend in¢ome for 2023 was £76.996 (2￿22 £79.278) ReDi r¢¢eiv¢d from so¢ieiy *nantS iDcreased to £46,11812022 £45.0451 Aucuon sale commi&sion increased 10 £67.532 largely &$ a result of the Coolnaslec and Gretnahouse dispcrsal sale5 1 2022 £36.863) Toiai expendtwre for 2ff23 w&s £627.I 12 (2022 £713.(X)7 1 Wages.pension atml social 5ecuriry cost5 wcrc £18l.20I { 2tr22 £221.667) Legal and professional fees £25.5￿j (2022 £40.141) This ¢on¢ludes my lasi Tepoff as the Honorary treasurer for the BCCS. In early January I called the Chainnan io *ll him that E would bke to retire at the AGM. IL has been a huge honour io have held th"Is position within the BCCS. a role which bas changed so much during my tenure . The position that I have held has had huge re$ponsibili¢ies. bui has also given me the knowledge io make infornutioTh available 10 the council of management when they are ma&ing budgetary decisions. Ivhkle we should be ambitiO￿S in aims for the 50ciery we ttcognise the maxkei place thai we in. (o run th¢ 50cieiy fiDathces with a pernjaneni owimism bi&$ iD place would my opinion be uDwise. And finally. and rnosi importanily. I need to say thank you. To my Wife and Family without whose sw)n it woukfj not have been p)ssible for rne io have undertaken thi5 ivileged posilion w¥ihin the BCCS. To the BCCS staff past and preseni. wiilKSUt yow help and sUp￿tt l cwldnl bav¢ done my job. l am immensely graieful ro you all. Under oomu] ¢ir¢ums¢ances I wouldn'¢ mentiou indiwidual membeffs of stsff bui on this (KC&SiOD I feel that L rnusl. RebE￿a joined the society over 6 Yea￿ ago and has becn a key ]netnberof stsff ffspmsible for th¢ ac¢ouns amongsi other thing5. Rebecca leaves the Society in early June io take up a rolc with The Addington Fund helping famiing families i crisi5. 1 would hke io take I￿.5 orwrniniEy to thank Relxcca for ail the hclp that shc has givcn me over the ye¥Js And wish h¢r well in the fvture. To the BCCS ft*rnber5. yIMtr eTKour4gement aThJ supwrt has always l*en appreciated bui never takert for grèffitrd. Graham Robinson Honorary treasurer Page 4 The British Charolais Cattle Society REPORT OF THE TRUSTEES for the year ended JI December 2023 The trustees who are also directors of ihe chariry for the purEMTr￿S of the Companies A¢1 21N. preseThi their repon with the fjnaneial stsiements of th¢ ¢hariry for th¢ year ended 31 December 2￿23. The trustees hav¢ adopte4 the provisions of Ac¢ounting and Reporting by Ch*ilies: Sta¢ment of Re£00)n￿nded Praciice applicable lo ch￿]1]¢5 Prep￿ing their attounts in aC¢oTdar￿e with the F￿a￿lai ReportiDg Stathdatd apPI￿able itt the UK aDd Repubjic of Irclatml (FRS 102} (effective l janU￿Y 20191. OBJECTIVES AI¥D ACTtvrTILS Objectives. activl¢le4 Atbievements and ptrfomaDce Being a registered rhariry. the SIKi¢ry must fulfil its clwiuble duties by benefiting the gertTal public. These prkn¢ipal obje¢iives are fulfilled by brted impwvemenL educaiioTh and eonservaiion. Breed improvement by registr3tion of births and parentage, which are thcn geneiically evalUa￿j, leaLts to more efficieoL pnrne beef production. EfficieTLi beef productioll helps mainiaitl co$i4ffective beef sales foi the iwying pubb"c. Through WiSLance ID the organisation of fann O￿n days and supponing cla$5es at the sutlltnei sh)ws aThJ winief priM¢st￿k shows. the general public are given the opp(TrmJnity of being involved with prime beef Ca￿t. It is both an tylucational and enjoyable experience. The third objective is conservation of the Clwolais breed. AIthou8h not a Tnajor issue at the pttsent tjme. complaceThcy cannot nlled out. as hisiiyically several nurnerically ￿PUlar b￿C￿& havc faced extinction. The tswte¢s have h¥1 re82rd 10 th¢ Charity Commi￿]0th,$ guidance on public benefit. The pri￿1PaI 8¢1ivities of the Society include the recording and transfer of ownership of regis￿red Charolais cattle. A herd i￿k of Charolais catt]e regisieied in the United kn"ngdorn 15 Inaintained. and from this registrr t¢hnical and 8eDetic breed impTovemeni progrnlluw maiorained in with the Ayiculwraj Business Reseaffh ]nstiiule. In conjunction with selected auctioneers. Charo]ais ¢artle sa]es are organised whereby Tharolais br¢¢dcrs bring thcir cattle to a ccntral collection point w be offered for 5ale_ Tr sale$ are advenised to atrraci customer5 from the general faT￿ing community. (Xher aCiiviti¢$ jThclude tO+¢)tmtion wilh the regional Charoiais club5 in the PTomotion of Ch¥mlais cattle through open days. agr]'¢ulfvTai thows. ei¢. R￿Arth work is carried out with various scieniific bodies lookn'ng into efficieni beef prtyJu¢tion. improving the ias* ￿dernesS of beef produced frorn Charolais cattle, and now thai the bovine genotnE 15 well tsll the way to being uttdetstood cenain alleles of genes can be ideniified wknch will, in the fubjre. have an effect on not ￿lY making teef a consisoni producL byi ￿￿Id well have certain health benefiES. A more cornpreheDsive review of the BCCS afflivLlieS appEar5 within this document in the Chairnun's and Treasurer's reports. STRATEGIC REPORT Income generation The ￿181 income for 2023 incre&sed by ground 2% from £712.624 10 £726.077. The rnajoT contribuuons to the Soci¢ry income are derived from members. subscripiions. registration fees. transfer fees. au¢iion sa]e ¢ommissions and invesimet)t income. Breedplan incom¢ rotaU¢d £51J73 {2022 - £51.7991. The investment income from the portfolio decreased by 3% to £T6.W6 (2022- £79278}. A deiailed breakdown of the vari￿5 income 5tream5 detsil¢d within the stsiement of financiaj activiiie5 with a more deiailed breakdown of cerrain astKcts contained in the Trea5ur&5 Report The British Charolais Cattle Society REPORT OF THE TRUSTEES ror the ytsr etsded 31 Dt. In our opknion the financial statrments.. give a true and fair view of t￿ srate of tht charitable cornpany's affairs as at 31 fkcember 2￿23 and of its incoming resources and application of resour¢¢5. including its income and expendittjtt. for the year then enikd: have been properly prepared in accordantt with Untied Kingdom Gentraily A¢¢eoed Accounting Practice: and have FKen prepar&] ITh aceordw¢e with the TequirenK•ts of the COMP￿leS Act 2￿. Bas￿ for OPiDion We cotlducred our audit An ac¢oth¢e with In￿rn￿l0[￿l Str￿d￿rds i)D A￿JIT1ng (UK) (ISAS (UK)} and applicable law. Our responsibi]iiies und¢1 those Sthndards arc furthcr ¢kscriÈ¢d in the AudLiof5' respx)nsLbili(ies for the audii of the financial statements section of our reFQrt. We are indeptndeni of ihe charirable company in accordance with the ethical requirements thai are rtlevani io our audii of the fLnancial statements in ihe UK. Ineluding the FRCS Ethical Standard. aTwJ we have fulfilled our other eihical res￿nSibilitieS in ￿Ordance with these requireme¢)ts. We believe that the audil evidence we have obtained is sufficieni and atvropriaie to provide a basi$ for our opinion. Conclusions relating to concern In audiiing the flnanciai statements, we hav¢ ¢owlutsJ that the trus*es' use of the going concern basis of accounting in the prefaration of the fjnancthl SLa*meDts is approwia*. Based on the work we have performed. we have not ideniifled any mattrial uncertainiit5 reiaiin8 10 events or conditions that, individually or ¢olle¢iively. may ￿st significant doubt on the charirablc company's abillry to coniinue Ls a goin8 concern for a period of * leasi twelve monihs fTOrn whtn the financial 5ts1ements are authorised for issue. Our r¢S[￿nSibIli¢1eS and the responsibilitie5 of the trustees with respe£t to going concern are described in the relevant sections of this ffpotL Other infOrn￿li0ll The mjstees are resportsible for the other infornation. The other InfOrn￿rI0Tr comprises the infonn￿l0￿ included in the Annual Report, other than the financial statcments and our RerK)rt of the Independent Auditors thereon. Our opinion i)n the finantial Stste￿￿ts (kKs not cover the ￿h¢r infornlaiion aThJ. excew to the exient otherwise explicidy slated in our repDrt. we do Doi express any fonn of 0&surance ￿nClUSion thereon. tn conDeaion with our audii of the swem¢DW our responsibility is io tead the other inforn)ation and. in doing 50, consider whether the other mf0M￿tion is materiauy in¢onsisteiit with the finallciai sutements or our knowledge obtained in the audit or othenvise appeats io be Materially misstawl. If we identify Such material incon5151encies or apparent material mi$statr￿nfs. we are required io detennine whcthtr this 8ive5 rise io a mat￿la1 mi5stsiemeni in the financial staiem¢nts themselves. If. based on the work we have pcrf¢)rrned. we corKludc thai there is a material misstaiemenr of this oiher infomiation, we are required ro rep)rt thar faci. We have nothing io report In thi5 regard. Opinions on other matters prescribed by the compani￿ Acl 2 In our opinion. based on the work undertaken in the course of the audit". the infomlion given in the Rewn of rhe TDJMees for the rmanc￿l year lor which the f￿an¢1a1 Maiemems are prepared is consi￿en1 with the flnancial ststements. and the Rcport of the TrUs￿S been prepared in x¢ordan¢¢ with applicable legal rAuiremenlS. Page 9 The British Charolais Cattle Society REPORT OF THE INDEPEf4DENf AUDrroRS TO THE MEMBERS OF THE BIUTLSH CHAROLAIS CATfLE SOCIETY Matters ¢>h whkb we 8re requlred to re￿rt by exteptiOD In the light of the knowledge and undeistsnding of th¢ charitsbk Comwy and ILS environment obtained in the course ofthe audit, we have OOE identified rnaterial misS￿nts in the Rewjn ofth¢ Thstees. We have ntsthing to report in resFct of the followin8 tnatters where thc Conjpallics Art 2(YJ6 requires us to ttport to you Rf. ID our opinion.. adequaie accouniing records havt becn keo or ttturns foT our audit have not been received fTom branches noi visitrd by us. or the fJnaJKial ¥at¢ments are not in agreement with the accounting records and re￿rns; or certain disclosures of tsustees, remuneration stttifled by law are not rn￿e. or we have noi received all the informaiion aThJ explanations w¢ r¢quire for wr audit. Responslbilities of tr As explained more fully kn the Stsiernent of Trustees. Responsibililie¥ {who are also the direcu)r5 of the chariiable ¢ompaThy for the purposes of company law) are resFXm5ibie for the ￿pa￿tiOn of the financial statements and for being satisfied thai they give a true attd fair view. and for such inkrnal control as thc trustees detemiine is necessary to enable the prepaJation of f￿a￿JaI stsiements that are free from material miwaierneni. whether thie to fraud or etmr. In prepanng the fir￿nCl81 sta*rnents. the trtss*es are responsible for assessing the charitable companys ability to continue as a going concern. disc105ing. L8 applicable, matteTS rtlated io going conceth an& using the going COTLcern basis of accounting unless the tr￿te£S either inter￿ to liquida* the ¢h*itsble ¢ompany or io ￿$¢ owauons. or have no Teolisuc alternative bui to do so. Our responslbllities for the audi¢ of the Our objectives are to obtain reasonable *ssuffatsce atxiut whether the financial 51atements as a whole axe free from material [ni￿12¢eMent. whether due to fraud or error. and to i5SUt a Report of the ITthFendent Auditors thai includes our opiniorb. Reasonable auuTan¢e is a high level of auurance. but is tkoi a guarantee thai an audit conducted in accordance with ISAS (UK) will always ddect a m*etia] missth*ment when it exists. Misstatements can arsse fiom frdud or error and are considered material if. iwjividually or in the aggregate. rhey could rea50Thably be eKpe¢ted to infiuence the economic thcisions of useT5 th on the basis of these finwial The exieni to which our ￿￿edureS are capable of detecting irregulavities, in¢luding fraud is dethiled below.. The alldit process includes an &ssessnxnt of the cntitys.risk envirffimenL thr￿gh ewuiry of aThJ discussion with management. including an assessment of any key laws and regulaiions with which the company must comply in the ordinary course of its business. W¢ have ¢oll¢lud¢d th￿ there are no such key laws and regulatiotLS thai are Particular to the Company's activities. Additionally. the overall risk% of irtegular traJw¢tions oc¢urriThg are &8ses5ed following our observations and onfjrnwuon of the desi8n and Implen￿￿tatioTh of management's controls. wh￿$1 we are mindful of these risks. our auth"1 focus is gear¢d tt)wards the risk of tthaierial misstatrjneni in thc finan¢ia] swements as a whole. As such. our pro¢edures earthoi guaran*e atl transaction5 have bcen fully compliatti with all relevani laws and regulations, including those regulations relating LO frawl. as our pr(KedurE5 are not designed to detttt a]1 instances of non-cornpliance. Nevertheless. nothing has come to our atteniion thai h&s given us significant cause for COTKem in the Course of the procedures we haven UDdenaken ID order io give our opini¢)D on Whe￿￿ the fina￿la1 s￿¢￿¢￿¢$ are fr¢¢ from O￿terial missthiemeni. as shown atA)V¢. A further d￿cr1[AlOn of our respon5ibiliiie5 for the audit of the fthan¢ial srat¢ments is Iijcaied on the Fmanciai ReFx)rting Council's websi* at WWW.f￿.Org.ukla￿diIQrsreS￿yn51bllitie5. This dc5CriPtion fomis part of our Repon of the IndependcnE Auditor5. Page 10 The British Charolais Cattle Society REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE BRITISH CHAROLAIS CArrLE SOCIETY Use of our report This ieport 15 made solely to the ¢haritablc compony's member5. as a i¥xly. ID xcordaDce with Chamer 3 of Part 16 of the Companies Act 2C¢)6. Our audil work ha5 iren UTthrt3kcn 50 thai we might thc charithblc company's members those matter5 we arc requwed to srate io them in an audiiors. retKTrn and for no other purtK*se. To the fullesi extent pernutied by law. we do not accepi or ￿Ume resporLsibth"Ly to anyone other than the tharitsble compatsy and the charitabk ¢ompaoy's mem￿Ts a8 a body. for our auth"1 WOTK l(Y thi"$ Tepo¢ or for the opiaions we have forn*d. Gregg Olner MPhil BA(Hons} FCA {SeRior Sthwiory Auth"wrl for and on behalf of Harri50n Beale & OweD IAmited Chartered Accourktants and StsLUtory Auth"ior 'ghdown House I l Highdown Road Leamingion Spa Warwickshire CV31 IXT Date.. TrhCr.u.￿... ... Pagell The British Charolais Cattle Society srATEMEhry OF FINANCIAL AcnvrnLs for the yt4r ended JI DtcemlKr 20 2023 To¢al 2022 Untesiricted fimd Restricted fund fwids No*$ INCOME AI¥D ENDOWMENTS FROM Donaiions and Icgacies 73151 73,851 I￿,7{K> Chojritable actSvStl¢s Breed improve￿￿nI 459.731 459.731 448,649 Other trading activities Jnvestmeni income 70JS0 124 705SO 38,682 124593 T4rt 712.624 EXPENDfnJRE ON 'sitLg funds 33963 30.930 Charitable adiyities Breed improvemeni 593 149 593 149 682.077 Tot•i Ner gainsl(105ses) on investmcnts 276.9351 NET INCOMFJ(EXPENDITURE) 290￿28 290528 {277.318) RECONCILIATION OF FUNDS To￿1 funds biougbt forW￿d 3,168546 3.16&546 3,445,864 TOTAL FUNDS CARRIED FORWARD 3.168.546 cor4TINUING OPERATIONS All irt¢ome and expenditttre h&8 arisen fmm continuing aciivities. The notes fonn pan of these fllwKial statements Page 12 The British Charolais Cattle Society BALANCE SHEEr JI Decembtr 2011 2023 2022 N￿eS FtXED ASSETS Intangible assets T•JLgible asse InvesttnetLt5 14 15 16 180 371.242 385.388 1898 2.686.786 3J33,1411 3.072.354 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 17 18 5.191 64.796 41,804 226,0111 231.041 CREDITORS Amoullts fa￿"ng due within one year 19 {100,076) 1134.849) 125 934 TOTAL ASSETS LESS CURRENT LIABILITIES 3A59,IY14 3.168.546 NET A&SETS 3.168 546 Unrestsi¢ted funds 3.168.546 TOTAL FUNDS 3 459 074 3 168 546 rinancial srakments were approved by the Board of Trusttes auth0ri5ed for i&sue T A E Sellick- Tn]siee notes form part of these fi￿a￿la1 swernen Page 13 The British Charolais Cattle Society CASH FLOW STATEMENT for the year e￿ded 31 Dettwiv 2011 2023 2022 Casb nows from operdtin8 activitie5 Cash generated f￿rn ope1*1￿*$ Nei etsh provided byl{used ID) operdUll8 activities 502761 Cash nows from InvesthiE adivitks Pur¢hasc of tangible f￿¢d a55Cts Purchase of fixed asset invesmKnts Sale of fjxed Issei invesiments Interest received Dividends received (3.fy7SI 1279,098 192.887 1,493 (11.471) 1487.333) 337.162 270 79.278 c&sh used in investtn8 activities 82.094) Chaw c*sh and c&%h equ1v￿¢llts in the reporting period Cash and equivalents the ginning fjf the reporting period 20327 (132.370) 293,424 Cash casb eqw5vaients *¢ the eJMI or the reporting perlod 181 161054 Th¢ now pan of th¢5¢ fiDanciai stat¢mEn Page 14 The British Charolais Cattle Society NOTFS TO THE CASH FLOW ￿ATEm lor the year ended 31 Decembv 2023 RECONCILIATION OF NET INCOMFJ(EXPENDITURE) TO NET CASH FLOW. FROM OPERATING ACTivrriES 2023 2022 Net ineomel{expenditsTe) for tht rtp)rtiDg wiod (as per Iht Statement of Financial ArtiTritits) Adi￿stMents for: Depreciation charg¢s {Gainlnosses on investsnents Int¢resT received Dividends rettived Decre￿ in sl(xk5 DecreaseJ{incrcasc) in det*or5 {Decrea5eYmcre4se in creditors 1277.318) 17A)I (1889011 11,4931 (76,9961 22.309 276.935 (270) (79.278} 22992 {9.604) 16.950 Net cash provided byl(used in) operatiOAS 50.276 ANALYSIS OF CHANGES NET FUNDS At 1.1.23 Casb flow At 31.12.11 Net e&sh Cash at bank and in hand 20 161054 ￿27 161 27 181281 Totsl 20 181 1611)S4 ￿27 ai The tto*s fonn part of thtsc fina￿la1 ga￿MentS Page 15 The British Charolais Cattle Society N()T&S TO THE FINANCIAL STATEMENTS ror the year eDded 31 Ikcember 2023 COMPANY STATUS Th¢ cbariiy is a company lirnitrd by guatantre and in¢iry)Taied in Ettgland and Wales. Thc members of the Company are the trustees who are also the dircciors. In the eVCDt of Ihc charity being wound up. the babilLIy 111 rcspc¢t of the guar2ntte is limi*d io £1 per member of the clwiiy. The charitable company's tegis*ied numbers and rc8iMered office address can be found in the R4kn of the Truslees. ACCOUNfiNG POLICIFS B&5i5 of prep4riDg the fin•ncMI st*temtnts The finan¢ia] siatrments of the chasitable ¢ompany. is a pubbc knefii entiry under FRS 102. have been prepared in accordante with the Charittes SORP (FRS 102) 'A¢counLing and Rewjrting by Charities.. StstemeTht of Recomtnetlded Practsce applicable to ch￿1¢1¢$ wewiDg their accimwts in accordance with the Financial ReFrf)rtin8 Standard applicable in the UK ar￿ Republic of Ir¢laThJ IFRS 1021 {effectsve l January 2019),. Financial Re￿)rting Standard l(72 Tr Financial ReF¥>rting Standard app]i￿ble in the UK and Repllbli¢ of treland, and the Compames Act 21K*. The financial srarements have Ixcn prepared under the historical co conventsori. with the ex¢eprion of invesuDeDts which are inclutsj at value. as modified by the revaluation of certain assets. The charitable COTnpany fuifils the cri*ria of apubli¢ beKfi¢enury as defin¢d by FRS IO2. The accouDring policies are Out below and reDJain un¢hang¢d from the previous yw. Preparation ottonsolidated financial statements The fitlancial starements conrain infornuiion abour The British Chamlais Cattle Society Limitrd as an individual compaDy and do ftot contain con$olidated flnancial inforM￿lOn as the parent of a gr￿p. The charity is exempi Section 39912A) of the Compame5 Act 2(￿ from the requirements to rffepare consolidated financial staternents. Slgnlfkant accounting judgements ¢stimate The company makes estitnaies and ￿umptionS concerniDg the fuwre. The resuluThg accouThiin8 e5umart5 will. by definitlon, seldom equal thr rclated a¢￿al Tesults. There are no estimates and assumptions thai have a signiflcani risk of cau5in8 a material adjustrnent to the amounts of asseis and liabilitie$ within the next rinaneial ye4r. Intorne All in¢ome is recognised in the StsierneDi of Financial Activities once the charity has entitlement to the funds, ir is probable thai th¢ irKome wlll be Tettived and the atnouni can be measured reliably. Subscriptions aDd investmcnt incomc arr on a rettivabl¢ basi& Income ftorn futkd-raisin8 evenLS is thown gr05s with tht as5(Kiated c05r5 included in fvTrJ-rdising costs. C￿VernMen1 grants. in the fonn of Coronavirns B￿lnesS Support Scheme. have Ixen recognised as granr income when receivei1. Expendlthre Liabilities are recognised as expenditure as scM)n as there is a kgal or consryu¢uve obligaiion commirting the hariiy to thai ex￿ndi￿re. it is probable thai a trdnsfet of e¢on¢)Tllk¢ beneflts will be required in s¢lllemen¢ and the amouni of th¢ obligation can b¢ me&wred reliably. Expendibjre is accounted for on an accruals basis inclusive of any VAT that cannoi be recovered and has been classifxed under headin85 thai a88regate ail c05t rela￿1 to the caiesory. Vlhere costs cannot be directly attributed ¢0 particular headings they have been allocated to a¢tsvili¢s ott a basx"s consiwni with the use of resource5. Expenditure is accounted for gross and when it is illCUTr&J. Costs of genernting fvThds are those cosis incurred in attra¢iing voluntary income. and those incurred in trading activities that raise funds. Chariiable acrivilies include expenditure associated Wilh the registtaiion and promotsoD of Charolais cattle and include both the direci costs and support e05ts relating io thtse activiiies. Governance costs i￿lUde those incuNe41 in the goveman¢e of the charity and ils assets and primarily as5c¢iared with consriDJiionai and sthNiory requiretnents. Page 16 continued... The British Charolais Cattle Society 140TES TO THE FINANCIAL STATEMEKfs. ¢4)ntiDu¢d for the year etsded 31 Dettmber 2023 ACCOUNTING POLIC￿. conlinued Intanglble wets Intangible assets ar¢ recogmsed at tosi less amorti￿On. Amortisatiots is provitkd over five years. in order to write off each assd ovet its t￿lm￿ useful. T*Dgible r￿ed assets Depreciauon is provided at the following atlnual ra*$ io order 10 wriie off a$5ei over its esumaied useful life. Lkasehold property- Roy21 Welsh Pavilion tLasehold property- NAC Fixwres & fi¢¢ing$- Royal Welsh Pavilion FIxttLres & fittings- NAC Computer equipment over the lea5C term over the lea5C tcrm 25% on c05r 12.5% on cosi at varying rdtes on cost Tangible flxed a5sers coming tnore than £l.(XM) are ¢apitslised and In¢l￿ted * ￿$1 inclyding any irKid¢nia] expense5 of acquisiuon. Rtlattd party exemption The chantabl¢ company has thken advaniage of exemptiort. undcr the icnns of Financial Rcporting Standhrd 102 The Finan¢ial Reporting Sthtthrd applicable in the UK and Republic of Jrelgnd,. not io disc105e relared party rTansa¢¢ions wilh wholly owned subsidiaries within the group. Stocks Sro¢k5 are Valu￿ at the low￿ of com and ntt reali5able value. after ￿￿kIng due allowance for obsoleie and slow moving itcm5. T*x*don The Charity is exempt frtsrn CLmpLYati(￿ thx lis chan.thbk activilles. Fund Attouniing Unrestricted funds can be used in accordance with the Charitsble obieciives al the discreuon of the trustre& Restricted funds can only be used for parti¢ul¥r rrstri¢icd PUrPL￿ within ihe Obj￿ of the th￿lty. Re5triciions arise when spe¢ified by th¢ donoror whe41 fvnds art Taised foT parti¢ul* rtS¢ri¢ted purposes. Funh¢r exp]amaiion of the athd putpose of each fund is included its the notes to the financial statemenls. PeDsion costs and other p&￿-retireMettt bttsefits The ch￿itable cornpany operdtes a defined contributi¢)n pension xheme. Contril￿￿On5 payable ￿ th¢ charitable cornpany'5 pension scheme are charged io the Sta*rneni of Fmancial Aciiviiie$ in tht penod to which they relate. InvestmeDts Fixed a5sei investments are shown OD the balance sheet at their fair value. Listed inV¢Siments are valued ai their tnid llwkei value &8 ai the ba]aDce $h¢ei d*. Thanges io fair value *e rttognised iti the Sts*ment of FiD&nciaL Activiues in the p¢nod in which they ¥ise. Sha￿$ of Sroup undertakinÈ$ are swed * historic com. nei of any impallrnent losses. Finaneial in5trwnents Loans and Fxyrrowings are initially reco￿lsed ar th¢ traLsa¢uon price I￿luding transxtion costs. Subsequently. they are rneasured at arnonised cosi Ltsing the eff¢*tive rate mBdNyJ. less impairment. Deb￿[$ and Credirors with no staled In￿e￿ rate atMI [￿e1Vable or payable within one year are recorded at transaciiort price. Any lo&ses ari5iTh8 from unp￿￿1 are T¢￿gn￿l in the Sthtement of Financial ActLVities. Page 17 continued... The British Charolais Cattle Society NOTES TO THE FINANCIAL TEMENTS. owtinu¢d for the yt8Jr ended 31 tknmber 2023 DONATIONS AND LEGACIES 21n3 2022 Other dollatiotts Sponsorship 73,851 82,7(M) 18,0(Y) 73 Grants received. included in thE ai¥>ve. are as follows: 21)23 2022 World ¢onvelliion stx)nsotship 2023 )22 AucrioD sale incorne Sale of PTomoiional 07A32 36,863 70 INVESTMENT INCOME 2023 21Y22 ReAis ￿e1Ved Lis￿1 inyesimeni income Bank dep)sit Inte￿5t 4fj118 76996 45.045 79.278 270 124 593 INCOME FROM CIIABifABLE ACTIVITIES 2023 2022 Activity Subscriptions Feceivable Breed imprDvetnent Donations- unailocaied subs Breed improvctr*ni Fthrolmeni fees & herd prefixes Breed improv¢nxnt Registration fee$ Breed improvement F.O.T. re8i51fdtion fe Breed imPToveTnent Transfer fees Breed itnprovernenr Semen royally scheme Breed w)MVe￿enl Breedplan inwm¢ Breed itnpn)vernent Gift Aid tax iefund & intrresi Breed impmv¢ment Itnpon admin fees Breed improveTnent DNA iesting Breed improvemeni Warranty income Breed improvement Export certificate fec5 Brecd improvenxnt Solar ineorne Brecd improveTnent S7,7 4N7 59.816 5.085 I￿0 178,053 1831M) 1.900 172.680 20.(XJO 5,140 2.211 51,799 6.619 2.833 108.052 1.810 350 2,791 51J73 11,645 2250 i(JS,153 Carried fotiw¥d 441.994 441,086 Page 18 conrinued... The British Charolais Cattle Society NOTLS TO THE FINANCIAL STATEMENT3. ttsntlnued for tbe ye*r ended 31 Decemb¢r 21)23 INCOME FROM CHARITABIE AcfiviTIES. cO￿l￿ed 2023 2022 Brou8ht forward Oiher breed S￿Iety services Breed irnproveTnent Young breeders sp)nsorship Breed improvement 441994 17,737 441.086 6,163 1,4(K) 459 731 RALSING FUNDS Rai%ing donatio]L% *nd ieg*ties 2023 21Y22 Auction sak ¢xp¢nses Ch￿01a1$ N¢ws & herd bTh)ks Regional conttibutions 19,8 1475 17.172 6,674 4.628 Other trading 2023 2022 Fljrchases Bad debts 7,182 78 2.456 2,456 Aggrega* amow)ts CHAIUTABLE AcnvrriFS COSYS Support Costs (see nore 10) Costs (see 9} Totals Breed improvemeni 593 149 Page 19 Continued... The British Charolais Cattle Society NOTES TO THE FINANCIAL STATEMENTS. eothtknued for the year ended 31 December 21)23 DIRECT COSTS OF CHARITABLE ACTIVIT 2022 Staff cosrs Reni. raw, iosuraoce, ckaDin& heal & lighi Telephone Postsge Fl]bli¢ity expen Sundn'es Repair5 & maintenance- lju￿￿.ng Charolais Youth Printing & Stsiio￿ery Moinienante of office equipmetsr Computer maintenance & supp)rt sub￿ripl10ns Herd inspefflion expenses ABRI sutwrt Donalions Ultra sout)d scanning refunds Registralion taif credit no DNA SNP ¢esting Other breed society services World convctL(io Depreciation 1812(11 49573 7.100 10575 1119127 6J89 221.667 37.393 6.155 10.650 99.481 7.305 2.823 11.707 7,522 631 6,234 1.105 775 25.721 3,216 11,325 5,970 77.376 5.591 54.135 &019 7227 015 949 1,14 1.670 9J75 79O54 6,140 10. SUPPORT COSTS Governance costs Breed improvement SuptM)rt cost$. i￿l￿ded in the above. ate &$ follows.. 2023 2022 Total activiues improvemeni Auditors, Temuneraiion Audi¢OIS' TemuneTation for non auth"¢ work Legal and prof&ssional fees Dircctors. staff & board travel eAFxnses 5A75 6,0211 S.475 2.452 40,141 continued... The British Charolais Cattle Society NOTLS TO THE FINANCIAL STATEMENfs. continued for the yegr eftdtd 31 December 2023 ii. NET INCOMFJ(EXPENDITURE) Net inr(rt{expertditu￿1 1$ sts*d after ¢harginW(crediting)." 2023 2022 Auditors. remuneraiion Other non-audii services DepreciauoTh- owned asseis Br¢ed improv¢m¢t)i amortI￿10ft Income from operating leases Amowits paytknle wwkT ¢)perating leases SA75 0211 17221 5,475 2,452 16,936 5,373 (45,045) (46,1181 12. TRUSTEES. REMiJNERATION AND BENEFrrs There were no rnjstees. remurteration or other be*efits for the Y￿ eNknJ 31 De¢embei 2023 nor for the year ended 31 December 21r22. Travel and subsistence expenses were ieimburs¢d to 16 members of the Council of Managemeni during the year iotalling £2.309 (2022- £2.561). The members of the Council of Managemeni neither received nor waived any emoluments during the year. 13. STAFF COSTS 2023 2022 Wages and salaries s￿181 seturiry ¢osts Other pensiorh Costs 158,427 9.747 194,279 14,814 12,574 181 221,667 The average monthly numberof ernploytts thiting the year was as follows.. 2023 2022 Cost of generaiing fvnds Man88emeni & administration No employees received emoluttknts in excess of £CII.CW. Page 21 ¢Oniinued... The British Charolais Cattle Society tor the ye*r ended 31 Deetmbtr 2423 14 INTANGIBLE FIXED ASSErs Breed irnprovtmeni COST Ai l January 2023 and 31 Decemkn 21Y23 AMORTISATION Ai l January 2￿23 Charge for year 26,084 At 31 tk¢embeT 2￿23 NET BOOK VALUE At 31 D¢¢ember 2￿23 Ai 31 De¢¢mber 2022 15. TANGIBLE FIXED ASSETS tAsehold property - Royal Welsh PdviIioA Flxttires & fiitings Royal Welsh Pavilion tE&sehold pmperry -NAC COST Ai l January 2023 Athjilions 13&827 16588 Ai 31 December 2tr23 16 DEPRECIATION Ai l January 2023 ch￿8¢ for year IOSJ58 12a017 Ai 31 December 2¢Y23 li iYET BOOK VALUE At 31 tk¢ember 2023 329 At 31 December 2022 32,969 334.425 9.179 Page 22 coniinued... The British Charolais Cattle Society NOTLS TO THE FINANCIAL STATEMENTS. ¢onlinu¢d for the ye4ir ended 31 December 2023 15. TANGIBLE FLXED ASSETS- continued Fjxwres & fittings -NAC Computer equiprnent Totals co Ai l January 2023 Additions 39.451 29,702 681.010 Ar 31 December 2￿23 DEPRECIATION Ar l January 2023 Charge for year 2￿74 295,622 17 At 31 December 2￿23 71 NET BOOK VALUE At 31 Decernber 2￿23 371 Ai 31 tknmb¢r 2￿2 385.388 16. Shares in Lis*d inve5tmeTh undertakings Totsls MARKET VALUE Ai l Janw 2023 Additions Disposals Revaluation$ 68fi78S 279.098 {148.797) 144 1686.786 279,098 (148.797) At 31 tk¢ember 2￿25 NET BOOK VALUE At 31 December 2tr23 961 . At 31 Decem1￿ 2022 2 686.783 2.686,786 There were no investmeoi &ssets outside the UK. Cost or valuarion at 31 tkcember 2023 is repesented by: Sh*res group Totals Valuation ID 2ff23 Cost 1,897 2,961W7 Th¢ ¢ompany's invwments at the balance s￿1 date in the share capital of companies include the following.. Page 23 continued... The British Charolais Cattle Society NOTKS TO THE FINANCIAL STATEMENTS. continued tor the ytsr ended 31 Dtttmber 2023 16. Prejnier Pedigre¢ S¢rvic¢5 Limited Registrred office". Aveoue M Naiiooal Agri¢ulLUT¢ Ceotre. &oneleigh ParL Kenilworth. WatWickthi￿ CV8 2RG NaDJre of busines5.' Ayiculn￿l Services cl￿ of share: Ordinary £1 shares holth"n8 Iiw) 17. STOCKS 2023 2022 Goods for T¢sal¢ 18. DEBTORS: AMOUNTS FALLING DUE IVTThIN ONE YEAR 2023 2ff22 Trade debiors VAT 31789 5532 41.871 PrePaYrnen￿ and accrued iKome 22.925 41 l9. CREDrroRS: AMOUNTS FALLING DUE IvnEIN ONE YEAR 2023 2022 Trade crediiors Social security and other tsxes VAT Other crediior5 AcCn￿l expenses. 42918 35.186 3,368 46124) 51.614 43.587 Included within crtdiiofs is a balance tor4lliDg £46.￿0 12022 - £S1.6131 relating to deferred incorne. The chariiy defus income ￿laring ￿ r¢gistr*ions and subscn"ptti)rLS in advance of invoices raised. Balallce as at l January 2023 Amoun¢S released 10 during the yeaJ Amoun¢s deferred dunng the year 51.613 (5 1,613) 46.820 Balance a$ * 31 Decernber 2023 46.820 Page 24 continued... The British Charolais Cattle Society NOTES TO THE FINANCIAL STATEMENTS. Continued for the Y￿ end¢d 31 DecemlKr 2023 Mirtimum lease payments under noTh<￿ice11ab1e operaling le￿S fail as follows.. 2022 Within one year Between one and fiv¢ years 3,459 5,51X> 11.983 Minitnuttl Icase paymeDts receivable uTrJer nOn-￿Ctuab1e OPEratin8 k&fes ajso fall due within one year of £32.340 due between ont and five years of £98.(V)5 and due over 5 years of £nil. 21. ANALYSIS OF NET ASSM BETWEEN FUNDS 2023 Totsl nds 2022 Toiaj funds UnTestric*d Resthc*d nd Fixed assets Invesimctlts Current asse Current liabiliiies 371342 U61,898 226,010 371342 1961,898 226,010 385.568 2,686.786 231.041 134.849) J 459 074 3 459 074 3,168546 MOVEMENT IN FUNDS Net movement in fvnds Ai 31.12.23 At 1.1.23 Unrestricted f￿Dd$ General fvnd 3.108J46 290528 3.459.074 TOTAL FUNDS 29(1 Net movement in funds. included in the alx)v¢ are &$ folknvs." Incoming Resour¢es Gains and losses MovemeDI in funds Unr¢stri¢i¢d (unds General fuDd 72&7YJ (627.112) 18&901 2911J28 TOTAL FUNDS 627 112) 2911 188 901 ￿28 Page 25 coniinued... The British Charolais Cattle Society NOT&S TO THE FINANCIAL STATEMEKTS. tontinued for the year ettded 31 Dtcember 21123 21 MOVEMEKf IN FUNI)S. con¢inueA Comparative5 for movement ID fuDd5 movement in funds At 31.12.22 1.122 UnrestrActed Gen¢ral futhd 3.445.864 (277318) 3.168.546 TOTAL FIJNTXS 3.445.864 277 318} 3 168 546 Comparative nei nb)vement ID funds. included in the *Jove are as follows: Incoming Gains and losses Movemeni in filnds Unrestricted General fuDd 712.624 {713.IK17) {276.9351 {277.318) TOTAL FUNDS 712 624 713.CQ7) 276.935 277 3l8 A curreTrt ycar 12 tTW)nths and prior ycar 12 n￿￿th5 ronthl￿d position is as follows". Net movement in futlds At 31.12.23 At 1.1.22 Unr¢strkt¢d fwids General fvtNJ 3.445.864 13.210 3.459.074 TOTAL FUNDS 3.445.864 13.210 3.459.074 A ¢urren¢ year 12 months and prior year 12 Th)nths combined movemeni in funds. i￿lUded in the above are as follows". .1￿ornIng resources Re50urccs expended Gain5 and Movement in ￿ndS Unrestricted fwids GeneTal fvnd 1.441.363 {1.340.119) (88,034) 13.210 TOTAL FUNDS 1.441.363 {1.340.119) 88 034) The generdl fund reprcscnts a]1 cumulative 5urpluscs of the charity and is available to use in furtherance of the charity's objectives as'ihe trusitts see fit. Page 26 continued... The British Charolais Cattle Society NOTES TO THE FINANCIAL sfATEMETrrrs. continued lor the year ended 31 Dtcembtr 2023 EMPLOYEE BENEFIT OBLIGATIONS The Company operates a defined contribution inswed pension ￿h¢m¢ in ttstttt of its employees. The s¢heme and Éts assets are held by i￿1¢penden1 managets. The pension charge represents ¢Olltsibulions due from the company and amounted to £A3.027 12022_ £21.074). Thett wete no ouistallding or prepaid coDtributioDs. RELATED PARTY DISCLOSURLS Alongside receiviTh8 rcimbursemeni for expenses incurred. the th￿tte$ are a]so sUp[￿erS of the aciivilies of the charity throu8h subscriptsons W￿"¢h are charged at the sam¢ pnce as third party ￿t￿be[S. Page 27