ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
Accounts prepared by Old Mill Accountants Charity Registration No.
25227
Chorlty reg1strD nymber252271 Cornpany re8lstTrilon number L18573 IEn&land and Wales) THE JERSEY CAThLE SOCIETY OF THE UNITED KINGDOM ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
THE JERSEY CAThLE SOCIETY OF THE UNITED KINGDOM LEGAL AND ADMINISTRATIVE INFORMATION Trustees M Logan (Chairman) 5 Bland (Finance DirertOTI M Davis D Hurne R HuntÈr P Arrell J Waller (Apptsinted 2 August 20221 (Appointed 2 August 20221 Secretary H Pritrhard Charlty number 252271 Company number 018573 RegI5tered offlte Bi5hopbrook House Cathedral AYenuÈ WELLS Somer5et 8A5 IFD Independtrt examiner Tim Lerw(11. FCA Old Mill Attountanry Lirnited Bishopbrook House Cèthedrèl AvenuÈ WELLS Somerset BAS IFD
THE JERSEY CAThLE SOCIETY OF THE UNITED KINGDOM CONTENTS Chairman's report Finantr Directorfs report TnJttÈt$' rèport Independent eyamine¢s rEPOrt ststement of finantlal summary Income ènd expenditure account io Balance shÈÈt 11-12 Notesto the accounts 13-27
THE JERSEY CAThLE SOCIETY OF TrIE UNITED KINGDOM CHAIRMAN'S REPORT FOR ThE YEAR ENDED 31 DECEMBER 2021 I feel r(only ryhtts bo81Trthls rertthth mts#nlfl(antchangeto have taken place duri1itheyr. In te Morth ourCompanyS@£retary. Emma Horn, informed Thethatshe intended to dose the mani¢èmentsideof hÈr buslness and ¥iouWtherefofe bEstsppin£ from her rule. Her comp3Thy.Jolly Nri(tsh. had ien responble for managinEtheJersey attle SrKV5 affr5 furalffloa io years sothis new31eft the 3¥d a thallense in rEplawKthe ryefftknent Thd Service Emffla and herto4pague5Aniwn andjen had We had very[apable LnIOn$ Inrested in the ffjand •fter duewnsidetation and prtK¢ss Pedi8ree U¥esic<k Services wereseWedtofuR the position wlth HeatherPritthard iaklnion the ft)IEolCornpany 5ecretsry. I would liketothankEmma and IrtEaM[DrthEIrrn3nYa ofdedicated s0ThlandtowdcLekndy der. Heather Pritchard and thf team rothejetserf Cathsoriery. FollDwini the pmious 10fjr5inslrrtnt$ the BoJrf enlereddtsojsthnswithAddn n0 as ihe rtureof irhsimentwas due to akerlfftthe n2arftrtu. Whilstthe JddIn8fi Fur kd been a verygoodin¥estTrntthe mlng ch•e made itlessanrathE. toa mubjallyaareeablecondu5ir and theAddingtCAI Fund has repaidthEIDan thatJC5 had madètothm that btheIl mathvalvEofthe 2 proyrtFes ownoj hJ(S thp Ojt¥01tyin thesirKk mafetth05Efund5 are tyrTrnity held inan intErestattrdthn8bafikaEioul The board seek¥fwtherad¥ko as ta hoth[funssh0U1d be lffe%t¢din the Itwtemk Wlth MO¢¥eNts takiwpLicethrou8h¢Nt 2022 the br of dirertorsfeh WaS importantto return to moetsngmembers face tofa¢e.IheSotietyhad a presencÈ atmany51TQW4WE h05tedludeesV)t55atC1andeb0YTr Inllorthwn Irdand Clrfron in CurnLYia. fol82rtU1lA6MSltaS wod to beabletohold¢urAGM at King5be£kJ¢rsey5 In5tsxia. 11sevent yery 5WPOrt¢d •nd frgllow(Dg thefOrM partof ihedayfflembers enjoyed a tourof the fllle5 al beckand¥fowedthE herd.Ourth3nksjOn McC05hfiJrh05trnBth&AGM atml toieènne tÈ3mfor all eydidto me$05ucce5thJl. The Naoonal Show inottaberattheknth West Dairyshow Saw aTrrrlfft¢dWtyofJets Catt ¥%th ntsmbws fuTh4ard andgrearqualltythrDhoUt. Ourrin8ydeA3nd PrDded thE perfEa to¢atyoDto errtertairnember5. IDthe befDfEmakiryrta ¢eathsweepfrf ourbreed. TheBoard tontinues tomeetz0OM thichallDW5for mare and shtyty mEth8L Plan5 areln place far2023 wfth awn Iheiotent to have a pre5eKeai maJoreventkA jU¢WConferer Is inApril.the AGM bxhethjted lorlate Jutyl eaftyAwst in NorthernlreLindandthe NaOon•lSIThTln Octoberatthe South5t Dairy5how. The Bo•rd atso Confjnues tolootrJ•&xwe rrysiTation& PMmolE theJer5ryLOW and her pwodwts3Thd t0pmdea servicEtO OUT member& In [tyKIn bthalf of the Poardl a8in lik£thankEfflma. Berthy Ity15on fortheiroulstanthngser¥Keover thelasttsWfficutt andAndy. Hpalhef and their team for on boawd inavery 5hortswe offjme. l TNould atso thank 0UrPre5enl PresidentEci)d Mthr5 ofthe boo{01Ut0lnte1r tholriknein supwrtolthE ry 8y*d and the5ocffj. airnhin
THE JERSEY CAThLE SOCIETY OF THE UNITED KINGDOM FINANCE DIREcfoR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 20Z2 Thi5 15 mylifth report as Finance Director of thejersey Cattle Soclety of the UK. I caTh report WÈ have m2de an apÈratioThal surplus of £17,163 an increase from the £3,583 rnade the previous ye3r. Sn¢ome linrominB ve5uurce51 & Expendftuve louIng re50urcesl 2022 was è year of increased society activity, linally being able to host an on farm AGM by kind invltalon of J Mccosh Df King5beck Jersey5. Also holding judges workshops both in the south and north of the Country. Events and 5how5 were attended bythe field oflicer such as UK Dairy Day, National ShDw, All Britsin All Breed Calf Show and sotne regional show5. Our 5UPPOrt of the young members continues wlth thelr weekend agaln, whlch was well supported at WOtxIdyjr$eys hosted by the Spence Family and remains as popular as always. The Society has made a successful and 5eamle55 transition frDrn Jolly 8riti5h to Pedigree Livestock Services for all ouroffice administrabon dunng thls period and1 would like to thank all involved for their hard work. The Soclety saw an Increèse In the SocletY'5 rnember5hip Services income followin8 last years decrease, with income back up to 2020 levels. A lar8e part of thi5 inirea5e cam2 becausE of increases in animal regi5tratiDns and transfer fee5, £9,000 of this increase was seen In tho animal regI5tration 5ervire TeleRe8 With a £5,5(Kl increase in transfer fee5. Investments The annual incorne receNed from investments held wlth the Addlngton Fund, 5t James Place anil Quitter che0t was £19.781. Balahce Sheet As menoned in last years report we finally appointed Quilter Cheviot to become the new guardlans of our cash reserves from the beginning of 2022, thi5 replaced fund5 held by St James Place and cash balances held. The resu5 in these accounts show an overall Investment inrorne of £19.781 up £9,302 from the previous year. This is mainly due to the income received on the Quilter Chevlot investments. The investments held with the Addington Fund were solddurin8 the year realising a gain of £28.540 in thE ¥Ear, the 541e of these furid5 were held in cash atthe year end. The value of The Quilter Cheviot investments and St James Place IPrlor to their dSsposall reduced during theyear by £49,129. £11,016 01 this related to the endowment fund with £38,113 belng a reduct(on Sn unrE5trirted ie5erves. Le8ade5 The Avril Caddey Endowment Fund valu& stood at £91.567 bÈforÈ the allocatton of the revalued1oss of £11,016. as mentioned above, income of £2,705 from the endowment element Df fund5 held with Quilter Cheviot, and a £5,Im Ilocation ol e¥penditure funds towards supporbnethe productiDn cost of Thè UKIT and the ABA8 Calf Show. FollowinB these trdnsactTons, the remaining value Df the endowment fund Is £78.256, of which thE origiTral capital donation of E52,965 cannot be spent. lea¥Ang £25.291 of available funds to be usÈd by the Sotiety under the tems of the endowment fund for future years. Restricted Funds of £2,521 donated specifitallyforjersty Young BrÈeders IJYBI maINS unused.
THE JERSEY CATTLE SOCIETY OF THE UNITED KINGDOM FINANCE DIRECTOR'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Pavilion The Pavilion st6118eneiates incorne from the arraThgemeTrt in place to provide facilitie5 for the Rugby Farmers Market on site at Stoneleigh Park and from occasional external bookings received. With the irnpact ol the Co¥id pandemic reducin81 the Sotsety has seen a small increase in income from external bookings and this year the pavilion was able to cover its running cost$8enerating a surplus of £144. The Soilety confjnues tc review Its opuons for the Pavilion and again made an annual dilapidation provlsiDn of f 1.923 Ipage 113nd notes 20 & 241. Condusltyi The Society in 2022 ported a balan¢e sheet to the va5ue of £1.043,518. The board. Bll of whom a unpaid volunteer5 make financial and managernent decisions that are in line with the well defined charitable objectiwe5 of the Society. The Society continues to have a strong balance sheet and ha5 the resources to endure for many year5 to come. SBkn Flnance Diredor Dated=...
THE JERSEY CATTLE SOCIETY OF THE UNITED KINGDOM TRusfEES' REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees present their annual report and financial statemerrts for the year endEd 310ecembEr 2022. The finantlal statements have been prepared in accordance with the accounting policies set out in note I to the financial ststements and comply wlth the Jersey CattlÈ Society's governin8 dtscument, the Companles Act 2006 and"Atcounfjng and Reporting by Charities.. Statement of Recgmmended Practice applicable to chHrities preparing their accounts in accordance with the Finandal Repothng Standard applltable In the UK and Republic of Iland IFRS 1021 (Effethe l January 20191" The charlty's full name 55 The JEf5ey Cottle Society Df the United Kin8dDm. The charity a150 trades under the rsarne Jersey Cattle S¢¢iety Limited. Oblectlves and attl¥ltles Poll¢les and obSethve5 The charitsble ObjecVe5, as Set out in the memorandum within the Society'5 Articles of ASSOCIOn. are to malntaln the purity and to improve the genetic merit of Jersey Cattle bred in the United Kingdom and to generallypromDte the brEed of Jersey cattle and in particular to promote the knowledge ané interest in the Jersey cattle breed by members of the Society. The objethves are achlevÈd asfollows.. Recording and compilingthe data of PEd1e Jersey cattle lstered in the UK Herd Book Ensuring Jersey cattle submitted meet the qualification trlterial frjrthe UK Herd Book. Inve5ti8atin8 pedigrees should any dlsputes arlse by Contes8 p3rttes.' Holding events and shows of pedigree Jersey cattle,. Encourawng membership of rhe Society,. PromotiThE the breed through Souety publications. the JCS website and social media plattomis Monitoring breed changes and workinE to ensure breed preservation and growth of essential breed genetics Providing online 5VStems for membership services. The trustees have paid due regafd to guidance Issued by the Charity Commiwon in detiding what acti¥Aties the Jersev Cattle Society should undertake. Acti7thies for achlevlng objectlves During 2022 the role of Company Secretsry within the Sc<iety had a change of personnel with Heather Prltchard of Pedigree Livestock Service5 coming on board to take over the èdministration dutses from Emma Horn. The team at PLS have continued to deliver the Society services to the members which has Inc5uded regIstraon and memberthlp servlces. also marketing and promotion. The earty part of the year saw re8ulatlons around the Covld pandemlc relax greatly whlth permltted mary of the agricultural events to be 5ts8ed once again throughout the country. Thè Jersey breed captured the tspportunlty of belng out and 8bout again at events and started the year with two Judges Workshops allowing members to promotethe strength of theJer5ey breed In the showring. As the months progressed if was fantaffjc to see the membprs supporbng many summer 5hDWS exhlbitrg thelr priie winning cattle and prornoting the breed to new and ÈstèbllshÈd breeders. ThÈ next generatton of bree&rs is a kÈy element to the development of the breed and have seen an increase both in mernber5hip Dumbers and the voSume of registrabons throughout the year. The young members were 4lso able to hold their young breeders weekend and support the All Breeds All Brltaln Calf Show. These event5 are a Ireat wenue for estsblishing relation5hip5 and building confidence withln the industry. The National Show held in early October saw the Jersey breed scoop all four Interbreed titles OTh dfer which included the talems of our young brfeLler5 lifting the Sh¢)wman5hip title. The event also saw new exhibitors enjoying the limeli8ht on thelr ffrst outtng. This is.a great shap wlndawfor the breed showing the 3ttribute5 and benelits ofthe Jersey animal.
THE JERSEY CAThLE SOCIETY OF THE UNITED KINGDOM TRU5TEES' REPORT ICONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Public benefit In setting the objectTves and planning the aciivities. the trustees have given careful consideration to the Charlty Cornmission's general guldance on public benefit. Voluntttrs The Society is verygrateful for the work of the volunteers who assist at SDclety èvents Irom timeto time. A¢hievements and performan The achievements and pÈrformance of the charity are set out in the Chainnan's Report. Flnancial revlew The financial review of the charity 15 set out in the Finance Dlrectoes Report. Reserves pollcy The reserves of the charlty are those fund5 that are freely available to be spent in the fUrtherae of the Soctety's objects. The trustees consider that It is necessary to hold serveS to enable the Society to rontinue to (zrry out is charitable activltie5 ID a climate of uncertaln future intome 5tream5 and potential unforeseen cosr& The trustee5 have reviewed the current level Df reserves and nS1dertheM to be adequate. Free Re5er¥e$ 2022 2021 Total funds Less.. Endowment fvnds Less.. Restricted funds Le55.' Fixed assets only rea115able on di5P05al 1.043,518 178,2561 12,5211 157,2871 1.046,944 191,5671 12,5211 160.3971 Free re&er¥es 905.454 892,459 The trustee5 have assessed the malor risks to which the Jersey Cattle Society Is exposed, and aresati5fied that systems are In place to mthgate exposure tD the rnajor ri5k5. Plansforthefvtu The future of the Society will be on the continued devèlopmenl of the Society's 8reed Developrnent Plan io mpet industry markers, the prornotion Df the Jersey Cow as commercial anirnal and development value added services for thÈ Society'5 Members, whllst maintsininE the breed's purity and intègrity. Structurej go¥ernan¢e and manapment conSton Th¢ charity is registered a5 1 charitsble Company Ilmited by 8uarantee, it was set up by a Memorandurn of Association crs IQ July 1883 larnended Articles of AssocIaon 7 August 20191, and restered as a charity on 8 November 1968. Tho charity 15 fOn5Dtuted under its Articles of socIa1n and is a registered charity number 252271.
THE JERSEY CATTLE SOCIETY OF THE UNITED KINGDOM TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees, who are also the dlrector5 forthe purpose of company law. and who served during theyear were.. M Logan IChaSrmaDI S Bland (Finance Direttorl J C Whitby M Davis D Hume R Hunter P Arre15 J Waller (Resigned 2 August 20221 (Appointed 2 August 20221 IAppolntÈd 2 Auzu5t 20221 The management of the charity is the responsibility of the trustees who are Elected and co-opted under the terms of the Arkncles of AssDclation. After the Annual General Meetin¥ in August 2022. Mark Logan remained as Chairrnan and Steven Bland remalned as Finance Dlrector. Oryahisatianal 5trurture and dedslon maklng The appDlnted trustee5 report directly to the Chalrman who is appointed by the trustees to oversee the runnlng of the charity. The board of trustees hold meefjnÉs on a regular basis via conference rall or by use of virtual klatforms like zoom, and when circumstance5 perrnit meet in person for board Meen8$. ontrartor5'. The ch2rlty contracts a Held Service Officer to obtaln lote animal registraUon5 whilst promotrng sodety membership and the jersey t¢)w. The charity contracts a thlrd party provider to adminlster and record all of the societ$ anirn31 regithticn5. parentage datai performance testing dita including genomic evaluations of any animal either rèw'stered or to be re8i5tered in the UK Herd Book. In addltion. this third pirty Supplier record5 sales income and r2isE5 each tnonth all of the sales invoices for the embership services purchased byJCS rnembers. The charty contracts a third party provider to carry out the role of company sÈcretary and bookbEeper. Thi5 third partv provider a150 oversees the management of the herd book and membErship alongside the day to day adrniristrative acbvthes of the charity. carrying out specific pieces of work or projects as a8reed by the board of tru5tee5. The ch3rrf(v has a set process in place tD provide a Thewty elected trustee wlth the required 5UPPOrt and guidance in their role as a trustee. The charity is linked to Jersey cattle area club5 located across the UK and wlth many otherJEf5eybreed societies and Jersev cattle or8anisations worldwlde. ThÈ th#rrcy has a programme of trdlnlng for new ippointed trustee5. The charity is linked to area clubs throu8hout the UK and with many DtherJer5ey Societie5 worldwbje.
THE JERSEY CALE SOCIETY OF THE UNITED KINGDOM TRUStEES' REPORT ICONTINUEDMINCLUDING DIREcfoRS' REPORn FOR THE YEAR ENDED 31 DECEMBER 2022 The tnjstees. who are aso the Lrettots ol The fjer5ey faitle Society th? Urmted Kln8dom for tl ?urp05e of compary lrt ère Te5ponsible for preparln¢ the T, RopDrt and the accourrts in attnTd4n wlth appli¢ablE Liw and United KwwdomkctyJnbw stsndèrdslunited KlTh8doTh f¥eneralA(Cepthd IonnE Prartcel. Companylaw requires the In to preparefinaneiil 5tstementsfpreITrandlTr. Under company LiwthetsNstee5 must not appro¥ethefinanoal stements 551heY are sarisned that they a true and fair of thestateof atrairs of the th4nJable company and of the incomw6 re50urtts and aH)litatt( of re50urce& hKludln£ the intomt and eXpEnditu ofihe tharhble comp3nyfDrthatptr In preparkn8these tOun the tWStee5 are r•wlrtd 10: . selectsuhablo PL4ldEsand then app4fthÈm cwisieTrii¥.' . Ots5e themethtrtsafvj wntiWe5in thCharltlEsSORP. . M•kelutJ8entsndestie5thlt ar reasonabfeand prit . state v4etheraPc3tsrè UKkwuntireStalldJrd5 ha been fdbwed. svbject to an¥ mrfal depuwres d15closed and plained in the4ccouMS', - pare th? accowts an the 80kn8 itsicern b•sl$ uhless k is Inapprowlate tD presume that the knoy Cattle S¢(lety [1 coniinuÈ in ¢)peraiio The trvstees are respo for adeque record5 thar thsdose rÈasonabie acwacy 4¢ an¥ the fiowiJl 5Thltion ofthe Cawe SoriEty and enablethem to •nsuff•thatthe xtounts tomth wlth the Cawanles Art IW6. They art atso rUpDnStb for5afpgL&Ythe8$SQtsofth? lecattle 5¢¢w and herKefDrtskiw reasonab step5 fort1 anddettt-twof fraudaThY rrtherittegularitsES. In prep•ringthisfeby)rLthe iru51ee5 tskn adwrta8ei4theJmaM rompaniqswmpfjorthmided SeCtion41$Aof thi romp8ntesAt21. ThotfU#MS' rnK#Xtwasappthd the Board ofTrustttS. S Wand IFinaDce Direaorl
THE JERSEY CAThLE SOCIETY OF THE UNITED KINGDOM INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF THE JERSEY CAThLE SOCIETY OF THE UNITED KINGDOM I reptrrt to thÈ trustees on rny examination of the financial staternents of The Jersey Cattle Soclety of the United Kingdom Ithe Jersey Cattle SDcielyl forthe year ended 31 December 2Q22. Responsibill¢ie5 and basls of report As the trustèes of rhe Jersey Cattle Society land also its director5 for the purposes of comparw kw) you are responsible fDr the preparÈtlon of the tinancial 5tstement5 in accord3nce with the requirements of the CoMnieS Act 2006 (the 2006 Artl. Having satisfied myself that the financial statements of the Jerw Cattle SoclÈty are not requir8J to be èudfted under Part 16 of the 2CM)6 Act and are eligible for independent examinatfjon. I report In respert of my exanlnafjon of thE Jersey Cattle Society's financial statements carried out under section 145 Df the Charities Ad 2011 IthÈ 2DII Attl. In carrying out my examination I have lollowed all the applloble DIreOn$ gfven by the Charlty Comm1551on under 5e£bon 145151 Ibl of the 2011 Act. Independent examlnerfs statement I hav2 completed my exarnination. I confirrn that no matters have corne to my attention in connection with the examination glvlng me cause to believe that in any rnaterial respect.. accounting records were not kept in respect of the Jersey Cattle 5odety as requlred by sectton of the 2CIJ6 Act.. or the financial statements dD not accord with those record5', or the fi"nantial st3tement5 do not cornply with the accountin8 requirernents of section 396 of the 20D6 Act other than any requlrement that the accounts Bive a true and fair view which is not 3 matter considered as part of an ndependEnt examina0.. ar the fin8ncial statements have not been prepared in accordance with the methods and principles of the Statement of Recornmended Praciice lor accounting and reporting by charities applicable to charities preparing the¢r accounts in a(wrdance with the Financial Reporknng StsTrdard applicable in the UK and Republic of Ireland (FPS 1021. I have no concerns and have cotne acr055 no other rnatter5 in connection with the examination to whi ch attention should be drawn in this report in order to enable a proper under5tsnding of the flnancial 5tatement5 to be reached. Tim Lerwill. FCA Old Mill Accountancy knmited Bi5hopbrwk House Cathedral Avenue WELLS Somerset BA5 IFD Dated.. 0710712023
THE JERSEY CATTLE SOCIETY OF THE UNITED KINGDOM STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestrlcted funds 2022 fte5tricted Endowment fund$ funds 2022 Total Total 2021 2021 Donations and le8acies Incoming resources frorn charltable athvities Fundrè15ing income Investments 21 200 1,2 179.155 14,579 17.076 179,155 14,579 19,781 157.295 10,904 10.479 2,705 Total Sn(ome and endowments 211.010 2,705 213,715 179.878 Raising fund5 15,482 15.482 12,195 Charftable activities 176,070 5.000 181,070 164,1 Total resourtÈs expended 191,552 196.552 176.295 Net Bains/l1055esl on investments 19.5731 111.0161 120.5891 24.022 NÈt m¢)vement In funds 9,885 113,3111 13.4261 27,605 Fund balances at l January 2022 952.856 2.521 91,%7 1,046,944 1,019,339 Fund balances at 31 De¢ember 2022 962.741 2.521 78,256 1.043,518 1,046.944
THE JERSEY CATTLE SOCIETY OF THE UNITED KINGDOM SUMMARY INCOME AND EXPENDITURE Accoupir FOR THE YEAR ENDEO 31 DECEMBER 2022 I Incorne lunds 1022 2021 GT055 income ILossesllKains on investments 211.010 19.5731 179,878 24.286 Totsl income in the repon8 perlod 201.437 204,164 Totsl expenditure fromlncome fvnds 1191.SS21 1171.2951 Net Intome for the yejr 9,88S 32.B69 -io-
THE JERSEY CATtLE SOCIETY OF THE UNITED KINGDOM BALANCE SHEEr ASAT 310ECEMBER 2022 2022 2021 NeS Flxed assds Intangible assets Tanglble assets IrNestments 5,220 57.287 452,293 7.830 60.397 587,970 16 S14.800 656,197 twrent ass•ts Stocks Debtors sh at bank and ln hand Is 17 2,322 77.960 529,052 1.807 66,908 395,84S 609.334 464,$60 Credltors: *mountsfalllnKdue wlthln one year 174,8471 169.9671 Net current assets 534,487 394,593 Total assets le55 current Ilablllths 1.049.287 1.050.790 Provfslon$for Ilabnlile5 15.7691 13,8461 Net assets 1.043,518 1,046,944 Capltsl fund$ Endowrnent funds-8eneral Incomefund5 Restricted funds Unrestritted funds 78,256 91567 2,521 962.741 2.S21 952,856 1.043,518 1,046,944 li
THE JERSEY CATfLE soaETY OF ThE UNITED KINGDOM BALANCE SHEETICOPfflNUED) AS AT31 DECEMBER 2011 Ihè mernkn h3bE not the to of Irs ffnin¢tal #atemonts tr the yw kn quettlon i The In1¢9$ •cnawW thdr resp0lis for en5urhy tltat the ch¥lty •¢rnur8 reMrd5 whkh lY wth sedlon 3a6 of thp kt •nd for weparinufinancial slat•ments a true and fair ol the sute of affr5 of the compan¥ a5 at the end of ihe lkn•Trtlal t Lf Irs Inwmiw >rE¢S oPaan gf res0¢* irKw mpany. srnal 58land (Finèftts D5tertorl
THE JERSEY CATTLE SOCIETY OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 A¢¢wnttnK pollcles Charity Informatlon The Jersty Cattle Society of the United Kingdom' a private company limited by guarantee incorpordted in England and Wale5. The re&5tered offlce is BishopbrDok House. Cathedral Avenue. WELLS. Somer5eL 8A5 IFD. The IAJslness address is Holme House, The Dale, Ainstable. C3rli51e. CA4 9RH. 1.1 A(wuntiTrK convention The financial statements have been prepared in accordancé with thè Jersey Cattle Society's Memorandurn and Arkncles of Association, the Companie5 Art 2006 and AoUnting and Reporbng by Charities.. Ststernent of Recommended PracticÈ appllcable tts charittes preparing their accounts in accordance with the Financial ReportTTrg Stsndard applitsble in the UK and Republic of ITeland IFRS 1021 leffethve l January 20191" The Jersey Cattle Society 5 a Public Benefit Enttry as defined by FRS 102. ThÈ Jersey Cattle Society has taken advantage of the provisions in the SORP for charities apptying FRS 102 Update Bulletln I notto ppare è Statement of Cash Flows. The Ilnanclal statements are prepared In sterfln& whlch Is the funthonèl currency of thÈ JÈrsÈy CattlÈ Soclety. MDnetsry amounts in these financial ststements a rounded to the nearest £. The accounts have been prepared under the hlstorical cosr ConvenOn, modified to intlude the reyaluafjon of frEEhold properties and to include investment properries and certain financial instruments at falr value. The principal accounttng pollcie5 adopted are set out below. 1.2 Golngconcern At rhe nme of appron8 the financial 5tstements, the tru5tee5 have a reasonable expectation th the Jersey Cattle Society has adequate resourtes ttr cOnn in operattonal e¥i5tefice for the foreseeable future. Thus the trustees continue to Bdopt the going concErn b4515 of 6CCOYTbting in pParIng the financial 5ternents. 1.3 Charltable lynd5 Vnrestricted funds are available for use at the dlscretton ot the trustees In furthÈr2ntÈ tsf thelr charitable objectives unle55 the lunds have been designated for otherpurposES. Restricted funds are stybject to speolic cond5ttDn5 by donor5 as to howthey may be used. ThÈ purrK)sès and USÈS trfthe restricted fund5 are set out in the notes to the financial ststements. Endowment fund5 are Subject to specffic conditions by donors that the capitsl must be maintained by the Jersey C4ttlE Society- 1.4 IncDrnln¥ re50urces Income is recognised when theJer5ey Cattle Society is legally entitled to it after any performance conditions have been met, the amounts cah be measured reliably. and it is probable that income will be received. Cash donafjDn$ are recognised on receipt. Other donation5 are recognised once the Jersey Cattle 5cÉiety has been nofi"ed of tho donation, unles5 performance conditions require deferral of the amount. Income tax CoVerable In relation to donations ceiVed under Gift Aid or deed5 of covenant is recognised at the time of the donation. Legacies are rEcoEnised on receipt or otherwise if the Jersey Cattle Society ha5 been notified of an impendin8 distribution, the amount is known. and recÈipt is experted. If the amount is not known, the legacy is treated as ontinBerrt asset. -13-
THE JERSEY CAThLE SOCIEfY OF THE UNrtED KINGDOM NOTES TO THE FINANCIAL STATEMENTS IcopinNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 AcroufttSry polldos IContSnyedl Donated serrices or faciliiies whlth compnse dwatEd ser¥ices are included in income at a valuon whlch Is an estimate of the financial borne the Ibonor where such c05t is quantih.able and measurable. No Income Is recognised wherethèTÈ Is nts financial cost borne by a third partv. Delerred income preSentS amounts received for future wiods and is relad to Incomlw re50urce5 in the per5od for whlth It ha5 been recewl. Incorne onty deferred when-. Fees are received in adVar of the e¥Ent to which thtydate.. The donor speofies that the8laTht of donats.on must On be u%d In futtjie accounting periods,. and The donor ha5 imposed conditions whith must be met befo the chadty has unconditionèl entr'tlemerrt. Interest Is Induded when receable and amourt con be mea5vred reliaE4y the charlty., thls15 normally upon notificknon of the interest paid or repwile by the bank. Expenditure rec&ned once there Is è legal or con5tructNe 018aOn to make a payment to a thlrd party, It Is probaw that setdemeni will be and the •nk)unt of the obl¥abon can be measured reliaW. Fundr4i51n8 ¢0sts are those incurred in seekln8 Troluntary corttrlbutlons and include the costs of dlssemlnatlng infomiation in 5UPP(Yt of the charitable actrvitres. Support costs Ire those ¢ostS ineUTred directly in 5UPPOrt of expeThdlturt on the objects ol the charity and include project manarnent carrled out at Headquarter5. Governance cosis are those incurred In connection with administration of thÈ ch•rlty and compllance wlth con5titutlonal and 5tstutory reqylrements. GTrnts payaeare th•rged In the when the offer is made except In those cases where the offer Is condltlonal, such Brants bein8 recognised as eXpendrtu when the condffjon5 attachin8 are fvlfilled. Grants offered subject to condlfjons whkh have not been met at the y¢ar end are noted as a comrnitfflen¢ but not accrued as expenditure. 1.6 Intarylbl• I1x ass•ts oth•rthin podwMI IntanKible assets acquired separatety from i busfjness I re¢oin15ed at C05t and are subsequently rnea5ured at cost le arcumuLited amordsadon and ac£umulated Impalrment losses. Amorfsai100 reco8nlsed so as to write off the com or vlluitton of issets le55 thelr re51dual values ovef thelr usefvl Ilves ¢D the following base5: Websrte devel¢Jpment 20% strafjbt Ilne 1.7 Y•nOble IIM•d •ss•ts TanKible Axed assets are OnlallY meuufed 4¢ cost •nd subsequentty measured at cost or ValUaon, net pf deprecladon Thd Irry impaient knsse5. DepreCIaOn Is rewnised $0 as to write off the (ostior 140 of assets less their residual *dlue5 over thelr usehjl Il¥es on the follo1 b•5es: short.term leasehold pmrwty Office equlpmeTht Term of lease 33% strafj8hi Ilne Th• Din or loss arts1 on the disposal of an •sset is determined 4$ the dlfference betsveen the sale pro¢eeds and the c•rryin8 v•lue of the agset, and is rew8n15ed In the ststement of finandal •rtfvttfe -14-
THE JERSEY CArrLE SOCIETY OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 countin8 policie5 Iconttnuedl All assets tosUnE more than £51X) are capfcalised. Sllver cups and trophies are maintsined in such 4 stale of rep)irthat their estimated residual Ydlue is Trot less than their carrying amount and thus the annual thargÈ ft>r d2preciatton is £nil. IA Flxed a55et Srhvestments Fixed asset investments are Inlttally rnea5ured at transaction price excluding transactlon costs. 2nd are subse4uent1y measured * fair value at eath TÈpttrdng date. Changes in fair value are recognised in net income/lexpenditurel forthe year. Transactton c05t5 a exppn5ed as incurred. Reioverable amount 15the hi8her of fair value less costs to sell and Wdltse In e. In assessingvalue in use, the esfjrnated future cash flows aTe discounted to their present value using a pr&tax discount rate that reflett5 current market assessmeThts of the tirne value of money and.the risks speclfic to the asset for whith thè ésttmatÈs Of future cash flows have not been adlustÈd. If the recovÈrable amourf of an a55et 15 estimated to be less than its carrying ampunL the amDunt of the a55et 15 reduced tD Its recDverèble arnount. An impairrnent 1055 is reco8ni5ed immediately in incomellexpendr for the vear, unless the relevant asset is ¢arried at a revalued amounL in which Case the impaimient Icss is treated 6$ a revaluation decrease. Recogni5ed impairment 1055es are rÈvÈrsed If, and only Sf, the aSonS fDr the irnpairment loss have ceased to applv. Where an impairment loss subsequently rEver5e5. the rarrying amount of the asset is increased to the revised estimate of its recoverable amount. but so that the increased tarrylng arnount doe5 not exceed the carrying arnount thèl would have been determined had no irnpairment loss been recognised for the a55et in prioryears. A reversal of an impairment loss is recognised imrnediatelyi unless the relevant asset Is carried in at a revalued amount, In which case the reversal of the impalrmpnt1055 15 treated as a revaluation increase. 1.9 Storks Stock5 are ststed at the lower of cost and esttmated sÈlling price less costs to complete and sell. Cost Cornprises dirett materials and, where applicable, dirett labour cDst$ and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement COSt and cost. Net realisable Wdlup is ihe e5tirnated Selling price le55 311 estimated costs of ¢thmplthon and costs to be ifieurred ID rnarkedng, sellin8 and distributtDn. 1.10 Cash and cash equlvaler Cash and cash equlYalent5 include cash in hand, deposits held at call wlth banks, other short-terrn liquid investment5 with original matUriÈS tsf three month5 or le55, and bank overdrafts. Bank overdrafts are shown within borrowing5 in current liabslities. 1.11 Financlal Instruments The Jersey CèttlÈ Society has elected to apply the provisions of section 11 'Basl¢ Flnanclal In5frumert5' and Section 12 'Other Flnancial Instruments Is5ue5' of FRS 102 to all of its financlal Instrumerbts. FinancI41 Instruments aTe recognised In the JeT5ey Cattle Society's èalance sheÈt whÈn the Jersey Cattle Soclety becomes party to the contractual provisions ol the instrument. Financial assets and liabilities are trffsÈt. wlth the net amounts prented in the financial statements. when there Is o legally enforceable riBht to set off the recognised amounts and there is 3n intention to settle on a net basis orto realise the a55et and settle the liability simultaneously. .15-
THE JERSEY CAThLE SOCIETY OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounilng pollcle5 (Connued) Busl¢Jlntsnclulossets asic financial assets, which include debtors and cash and bank balances, are initially mEa5ured & transaction pri includin8 transaction costs and are subsequently carried at arnorti5ed cost Using the effertive interest method unless the arrangement CDn5titutes a finèncing transaction, where the transaction 15 mea5ur2d at the pre5ert valve of the future receipts discDunted at a market rate ol interest. Financial z55et5 c1355ified as receivable wthin one year are not amorrised. 8osrcfint7ndolllobllltles Basic fi'nancial liabilitie5. including credrtors and bank Ioap5 are initially COgnised at tr3nsartion price unless the arrangement constitutes a finan£ing transaÈOon, wherÈ the dtbt inrtrurnent is mtasured at the Prert Value of the future payments discounted at a market rate of interest. Financial liabilities cla55ified 35 payable within one year are not amothsed. Debt instruments ère subsequÈntly tarried at arnorkn5ed cosL using the effective interest rate method. Trade credltors are obligations to payfor goods or ser¥ice5that have been acquired in the ordinary course of operati0Tr5 from suppliers. Amounts payable are cla55ified a5 current liabile5 if payment 15 due within one year OT les5. If not, they re presented a5 non-current liabiliries. Trade crèdltors are reco8n15ed 5nitially at transaction pre and subsequentlv easured at amorhsed c05t using the effethve Interest method. i)erecognlÉlon offlnontlo1110bilirf¢$ Financial liabilities are dereco8nised when thÈ JÈrsey Cattle Sotietys tontractual obligations expir2 or are discharged or cancelled. 1.12 Pro¥lslons ProvSslons are recogni5ed when the Jersey Cattle Society has a legal or constructive present obl1on as a result Df past event. it is probable that the Jersey Cattle Society will be required to settle that obligation and a reliable estimate n be made of the atnount of the obligab'on. The arnount recognlsed as a provision 15 the best E5Urnate of the consideraOn required to Settle the present obligation at the reporring end date. tsking into account the risk5 and uncertainties surroundin8 the obligatic. Where the effect of the time value of mtsnty is material, the amount e¥pected to be required to settle the obligation is recognised at present value. When a provlsion is Tnea5vrpd at present value, the unwindin8 of the discount Is reco8nised a5 a finance cost in net income/lexpÈftditurel in the pÈriDd in which it arises. 1.13 L?a5e5 Rentals payable under operating leasps. Including any lease inrentive5 received. are char8ed as an expense on a straight line basi5 overthe term of the rèlevant lease. -16-
THE JERSEY CAThLE SOCIETY OF THE UNITED KINGDOM NOTES TO THE FINANCIAL sfATÉMENTS ICONnNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Crliftsl accounnE esdmate5 and ludEements In the application of the Jersey Cattle Society's accounting policies. the trustees are required to make jud8ements. estimates and assuMp0nS about the rying amount of èssets and liabilities that are not readily ¥pareTrt from other sources. The estimates and assoclated assumptions ère based on historical experience and other factors that are considered to be relevant. Artual reSs may differ from these ethmates. The esfjmate5 and undedying a55umptson5 are reviewed on an QThKoing basis. RE¥lslons tp aCCDunting estimates are recognised in thE period in which the e5fjmat2 is revised where the rÈvision affetts only that or In the rIOd of the revision and future period5 where the revision affects both current and future period5. K•y sources of ostlrnation uncertalnty The e51irnates and assumptions which have a significant risk cf causin8 a material adjustment to the carryin8 arnDunt of assets and liabilities are as follows. Estimated useful live5 of tangibletixed a55ets In determining the estimated useful life the Society consider5 the expected physical wear and tear of the asset that could lead to cb501escence of the auet. Each year the charity reviews the above to e5tabli5h if there 15 any thange ITh the expeLted useful life of tsnRible assets. Donatton$ and lega¢les 2022 2021 Donayons and gifts 200 1.200 Incominz re50urcesfrom tharitable activities 2022 2021 Mernber5hip services ShowMJcB Isponsorshipl income Publication income Subscriptions Sundry income 115,886 3,388 10.708 48.146 1,027 94,529 13,345 46.749 2,072 179,155 157,295 Fundri151n8 Inrorne 2022 2011 Fundraising income 14.579 10.9 -17-
THE JERSEY CAThLE SOCIETY OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Irwe51ments Unre5trided Endowment funds funds zozz 2022 Total Total 2022 2021 Investment properkne5 Dividend Incorne Interest receivable 5.328 io.ioo 1.648 5.328 12,805 7.038 2,705 3.441 17,076 2.705 19.781 10,479 Forthe year ended 31 December 2011 10,479 10,479 Chatiiable artlvltle5 2022 2021 Membership 5enAces Field officer Fleld officer expenses YDth c05t5 Publication Promotional Show costs 64,849 20,314 2,676 2,296 15,863 55,584 19,693 9D7 15.942 15,0001 6,249 12371 105.761 93.375 Share of support costs (see note li Share of governance c05ts1see note 111 69.831 5,478 64.850 5.875 181.070 164,100 Analysls by fund LJnre5tricted fund5 Endowment funds- general 176.070 5,000 159.100 5,000 181,070 164.ICQ Forthe year ended JI De¢eMber 2021 Unfestricted funds Endowment funds- general 159,100 5.000 164,100 .18-
THE JERSEY CAThLE SOCIETY OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Ra151nz funds 20ZZ 2021 donations ProMOOnal tosts je House pavilion costs 4.139 11,343 1.930 10,265 Costs of generatTng donattons 15,482 12.195 Tru5tee5 None of the trustee5 lor any peT50ns connected wlth them) retÈNed any remuneration or reimbursed expense5 durlng the year. io Employee5 There were no employees durfng the year. 19-
THE JERSEY CATfLE SOCIETY OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 li Support ¢osts Support costs Gtyerhaiire costs 2022 Depreclatton AdvertJ5in8 3nd promotfonal Rent Insurance PostagE, stationery & Telephone & fax Accountancy Subcontractors Bank charge5 Other sUPPOrt costs 5.719 1,458 200 5,719 1,458 200 2.965 2.613 765 3.360 51,315 510 5.719 757 1.2 2.95G 2,965 2.613 765 3,360 51.315 510 926 258 3,350 43.633 530 1438 926 Independent Examiner's fee Legal & profe55i0nal fee5 5oclety meetings 1.450 1,898 2,130 L450 1,898 2,130 L350 4,415 iio 69.831 5.478 75,309 70,725 Analysed between Charitsble acbvities 69.831 5.478 75,309 70,725 In add10 to the Independent examiner fees Shown above. included wlthln 5UPPQrt costs are fee5 payable to the Independent examiDeT in respect of accountancy and other5eNce5 of É3,42312021..E3.3501. 12 Net ylnslllossesl on irwestments Unrestrirted Endowment funds fund5 general 2022 Totsl Total 2022 2012 2021 Revaluatton of investments Gainlllossl on le of investments 138.1131 28.540 111,0161 149.1291 28.540 24,022 19.5731 111.0161 120,5891 24,022 Forthe year ended 31 De¢ember 2021 24,286 12641 24,022 -20-
THE JERSEY CAME SOCIEfY OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 1> Inuth¢lbl• Ixed assets At l January 2022 and 31 December 2022 13.050 Arnortlson ond lfflp•irn)ent At l January 2022 Amortfsatton charged forthe year S.220 2.610 At 31 December 20Z2 C•rrylng •mount At 31 Decernber 2022 S,220 At 31 Dember 2021 7,830 14 T•nilble Ilxed •ssets Short.terni le•5ehold equlpmefit At l January 2022 124.377 23.641 148.018 At 31 Decen)ber 2022 124,377 23,641 148,018 Depr[10 and Impalrment At I january 2022 Dep¢[all0 th•rged the year 86.141 3.110 87.621 3.110 At 310ecernber 202Z 89.251 1,480 .731 Cayrylry amount At 31 December 2022 35,126 22.161 57,287 At 31 December 2021 38,236 22,161 60,397 IS Stocks 2022 2021 Flnlshed goods and ioods for resale 2.322 1.807 21-
THE JERSEY CATTLE SOCIETY OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 16 Flxed asset In¥estmeiits Llsted InvementS Unllsted In¥estments Tot41 Ctstt or Valuation At 310ecember2022 Additions Valuation changes Disposals 231,870 356.1 587,97D 5CYJ.000 147,7071 1587.9701 147.7071 1231,8701 1356.1001 At 31 December 2022 452.293 452.293 Carryln¥ amount At 31 Dècember 2022 452,293 452.293 At 31 December 2021 231,870 356,I¢XI 587.970 Investments IndIdUa1ty represenung morethan 5% tDtsI.. Quilters Cheviot investment Fund 17 Debtor5 2D22 2021 Amountsfalllng due wlthln one year. Trade debtors Other ¢Jebtor5 Prepayments and accrued Income 69.386 5,617 2.957 59,362 5,315 2.231 77.960 66.9D8 18 Credttors.. amourrtsfalllng due within onEyear 2022 2021 other tsx8tton and social security Deferred income Trade credltors Accrua15 8,469 44.335 10.794 11,249 10,002 41.313 6.531 12,121 21 74,847 69,967 22-
THE JERSEY CATTLE SOCIETY OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 iy Flnanelal Instrurner 2022 2021 Carrylni amovrtoffinantlal assèts Debt instruments measud èt amorD5ed c05t Equity instruments measured at cost less impairment 75,003 452.293 64.677 587,970 Carrylnz amount of tinandal Ilabllltle5 Measured at amorfjsed cost 22.D43 18.652 20 Provisions for Ilabllltles 2022 2021 Dilapidatign provision 5,769 3,846 Movements on provislons.. Dllapldatloh provSston At lJ3nuary 2022 Additional provisions in the year 3.846 1.923 At 31 December 2022 5.765 21 Deferred Incom2 2022 2021 Arlsln£ frorn 5ub5cription renewa15 44.335 41.313 Current liabilities 44.335 4L313 44.335 41.313 Mo¥emttit In the• 2021 2021 At l January 2022 Amount released to income eamed frDm charltable alVitieS Arnount deferred in the year 41.313 141.3131 44,335 41.570 141.5701 41,313 At 31 December 2022 44,33S 41,313 -23-
THE JERSEY CAThLE SOCIETY OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENT5 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 22 Re51rlrted funds The income funds of the charfty include restricted fvnds compri5in8 the following unexpended balances of donation5 and grants held on trust for specifit purpose5'. Mo¥emÈnt In fvnds Incomlni REspyr(e5 resourees È¥pended Balance at l Jonuary 2022 TTrn51er5 Balanct at 31 December 2022 Jersey Young 8reedEf5 2.521 2,521 Balan¢e at ljanuary 2021 Incomlng resources Resource$ expended Transfer5 BalancÈ at 31 Oecember 1021 JetsEy Youn¥ Breeders 2,521 2,521 Jersey Youn8 Breeders Fund-To entourage and sUPPOrt the growth of Jersey Young Breeders. -24-
THE JERSEY CAThLE SOCIETY OF THE UNITED KINGDOM NOTES TO THÉ FINANCIAL ATEmENTs ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 z3 EndowmErtlunds En(Eowment hjnds represent assets whlch must be held permanently by the Jersey Cattle Society. arising on the endowrnent funds can be used in accordance wfch the objects of the Jersey Cattle Soclety and 15 included as unrestricted incorne. Any capital 8aln5 or losse5 arising on the assets form part of the fund. Movement In funds Inmmlng Resources GalnsJlLossesl resources expended BalanEe at I January 2022 Balance at 31 DKernber 21)22 Permanent endowments Awil Caddty 91.567 2,70S Is,0001 111.0161 78,2S6 91.567 2.70S 15,0001 IIL0161 78,256 Movement in funds InwrninK Resources Galns/lLossesl tt$ourie5 expended PrIYear Batante ai I January ZOZI Balan at 31 DErember 2021 PernneThI Ènd¢Mments Avril Caddey 96,831 15.0001 12641 91.567 96.831 15.0001 12641 91,567 The Avril Caddey Trust Fund- the capital cannot be spent. The income can be used for promOOn and ytsuth and to fund an annual lunch for the paid staff lat such rne when thè Soclety is a reEi5tered employerl and Is Included wlthin unrestricted funds. 25-
THE JERSEY CATTLE SOCIEfY OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 24 Analysts of net assets betweort funds Unre5trfcted Restrictedfunds funds Éhdo¥miEnt lund5 Totsl Fund balance5 at 31 Dember 2022 a rtpresented by.. Intangible tixed a55ets Tangible assets Investment5 Current assetsllllabilittesl Prowsfion5 5,220 57.287 374,037 531,966 15,7691 5,220 57,2B7 452,293 534.487 15,7691 78.256 2.521 962,741 2.521 78,256 1.043,518 PrforY¢ar Unre5trfrted Re5trfctedfunds Endowment funds fund$ Total Fund balances at 31 OÈcembèr 2021 are represented by.. Intsngible fixed assets Tèngible asset5 InYe5tments Current assets/lllabilitie51 ProvlslQn5 7,830 60.397 496.403 392.072 13.8461 7,830 60,397 587.979 394,593 13.8461 91.567 2,521 952,856 2.S21 91.567 1,046,944 -26-
THE JERSEY tAThLE 50CIEfY OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 25 ¢Jperaiin8 lea5• CommMentS At the reporting end date the JÈrsey Cattle Society had oytstandin8 Colnrnitrnents lor future minirnum lease payments under non-cancellable operating leases, which fall due as follow5.. 2022 2021 Within one year Between two and five years In overilye year5 3,691 14,765 29,530 3.653 14.612 32.877 47,986 51.142 Amounts recDgnised in the 5tateTnent of linancial activfjttes as a cost during the perlod In respect of operating lease arrangements amounted to £3,691l2021-,1411. 26 Related partytransath0Tr5 The Directors are volunteer5 who individually, Dr in partnership with others, are involved in the produthon andlor procuremenl of Jersey cattle andlor their milk. As such th2y have a trading relaonShIP with The jSeY Cattle Soclety af the UK through the purchase of merrDbehIp services. to register, as applicable. theirjersey cattle as ped1se. The trustee Mr M Davis 15 a director of Kivell's AucknoTheers. Kfvell's pay the Society a transfEr fee for each pedigree animal sold at a Kivell's sale. -27-
The Jersey Cattle Society of the United Kingdom c/o Pedigree Livestock Services, Holme House, Dale, Ainstable, Carlisle, Cumbria CA4 9RH
Company Registration No. 18573 (England and Wales)