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2024-12-31-accounts

Company registration number: 00035107 Charity registration number: 254166

South Devon Herd Book Society

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2024

Wortham Jaques Ltd Chartered Accountants and Charity Advisers 130a High Street Crediton Devon EX17 3 LQ

South Devon Herd Book Society

Contents

Trustees' Report 1 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9 to 10
Balance Sheet 11 to 12
Notes to the Financial Statements 13 to 34

South Devon Herd Books Society

Trustees’ Report

CHAIRMAN’S REPORT ON BEHALF OF THE TRUSTEES

for the year ended 31st December 2024

I want to start my second Chairman's report to the Trustees with great news. We are still ranked by AHDB as top in three of the five native beef categories. These are:

Daily Liveweight Gain Carcass Confirmation ( joint) Carcass Weight.

Looking forward, we have a lot to be proud of to borrow the political cliché we can see the green shoots of recovery. I am pleased to report that we are getting enquiries from Farmers outside of our breed for animals from a high herd health status or within a health scheme and they are looking for specific traits from performance recorded herds with high accuracy Estimated Breeding Values to fulfil their business needs. The work that we have done as a society in the past is beginning to pay off.

I would encourage all of you to become involved in performance recording and health schemes as this will put you in a competitive position to achieve high sale prices for your cattle.

The not so good news, registrations are down again. I have stated many times that registrations are the life blood of this Society . Can we excuse this fact this year after the changes that have been? Perhaps yes but increasing the number of registrations next year has to be a priority to reverse the trend of the last few years. I believe that we can build on the fantastic work that Anna has done, by re-connecting with the Membership and increasing the Membership and with that increasing the registrations.

In July we interviewed for the position of Breed Promotion Executive and I was overwhelmed by the number of job applications we received, we had in excess of 135. Once we had looked through and shortlisted, we formed an interview panel consisting of Gordon Tully, Richard Hartshorn, Adrian Rundle and myself. After a long day we were delighted to offer Anna Griffin the role of Breed Promotion Executive and we were even more delighted that she accepted.

This was one of the significant changes to the Society’s Structure both in personnel and office. The office at Westpoint has closed and we have relocated to Carlisle where Pedigree Livestock Services [PLS] take care of all the office administration and registrations for the Society. In situations where you have major changes there were bound to have been bumps and potholes in the road. However, the road to success is always under construction and I would like to take this opportunity to thank Andy Ryder and his team who now oversee all the work that was done by the office at Westpoint. In particular, I would like to single out and thank Hannah Metcalfe for all the work she has done to make this transition as smooth as possible.

At the end of July we said farewell to Liz who had worked for the Society for over 36 years. In August we said farewell to Caroline who had been our Breed Secretary since 2003. I would like to take this opportunity to wish them both all the success for the future. To mark this achievement in October we hosted a lunch with all the past Presidents and Chairman's of the Society since Caroline had been in post. It was great to see so many of you there. Caroline and Liz would like me to thank those Members who generously donated to their leaving fund. They were deeply moved and touched.

Whilst our accounts for 2024 do not look good showing a loss of £72901 I must emphasise that we have incurred a lot of one-off expenses. It was important for us to obtain the correct legal advice as any mistakes made with restructuring can be costly. Please remember that the redundancy payments were well above the statutory minimum to reflect the number of years’ service of Caroline and Liz, of 23 and 36 respectively. These were very hard to make and not one that I relished but were important for the Society to make for its future.

As you will see from the accounts this year the registrations have fallen again and I will repeat what I said last year the registrations are the lifeblood of the society please do think about registering your animals to support the Society. Registration fees for online registrations have not increased this year. We are in the process of

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South Devon Herd Books Society

Trustees’ Report

setting up direct debit payments that will enable members to spread the cost of their registrations over 6 or 12 months and therefore encouraging members to register their cattle.

I would like to say a big thank you to all of you who attended many of the shows throughout the country and to our President Roger Laity who travelled the country visiting these shows. To those of you who attended our National show at The Royal Cornwall Showground it really was a great display of cattle and one that certainly gave our Judge Philip Claridge something to think about.

I would like to thank the Executive Committee for all their help and support throughout the last 12 months they have all stepped up to the mark and given their full support to the Society. We have had to have many meetings. I would like to thank Adrian Rundle especially for his exemplary work on the accounts and Bob Bostelmann who formed part of the Human Resources Committee with Adrian and myself.

I must praise the work done by the Breed Promotion and Breed Development Committees to ensure our muchloved Breed remains relevant into the future. We have seen a huge increase in our media coverage over the past 12 months.

Building on that it was great to see so many people attend the national herd competition winners open day in Aberystwyth at Charles Grisedale’s Cefngwyn Herd. It was a great sight the moment we entered the first paddock into a group of 2-year-old heifers. I would like to thank the judges Philip Laity Robert Hadley and Ashley Rowe who had taken time away from their farms to travel around the country.

Lastly, I would also like to thank the Council for their support over the last 12 months. Some Members were new to Council and in their first meeting were not afraid to take difficult and challenging decisions especially about making efficiencies to safeguard the future of the Society.

Like with all societies, clubs, groups etc the success of it is dependent on its members and its membership support.

Edward Hawkins, Society Chairman

Council attendance
Mr E G Hawkins 4 Mr O Rounsevell 2 Mr R W Camp 3
Mr R Hadley 3 Mrs A Smaridge 4 Mr T R F Smyth 0
Mr K Finch 3 Mr J Tucker 4 Mr A Rundle 4
Mr R C Burrough 2 Sir J Bell 2 Mrs A Riches 3
Mr J C Coward 3 Miss R Dennis 2 Mr R D Ashcroft 3
Mr N Bunkum 4 Mrs G Sell 4 Mr R W Bostelmann 3
Mr R J Rowe 4
Executive attendance
Mr E G Hawkins 5 Mr R V Hartshorn 5 Mr A Rundle 5
Mr C J Edwards 4 Mr G H Tully 5 Mr P S Rowe 5
Mr R A Ford 3

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South Devon Herd Books Society

Trustees’ Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2024.

LEGAL AND ADMINISTRATIVE DETAILS

Status

The charity is a company limited by guarantee (number 35107) and was incorporated on 2[nd] November 1891. It was registered with the Charity Commission (number 24166) on 6[th] November 1967. The company was established under a Memorandum of Association which describes the objects and powers of the charitable company, and it is governed under its Articles of Association.

Registered Office Bankers Investment Adviser
c/o Pedigree Livestock Services Lloyds Bank plc Brewin Dolphin Ltd
Holme House 41 Courtenay Street Vantage Point
Dale Newton Abbot Woodwater Park
Ainstable Devon Pynes Hill, Exeter
CA4 9RH TQ12 2QW Devon, EX2 5FD
Solicitor Independent Examiner
Michelmores LLP Wortham Jaques
Woodwater House 130 High Street
Pynes Hill Crediton
Exeter Devon
Devon, EX2 5WR EX17 3LQ

Trustees of the Society

The trustees of the charity are the members of its Council who are elected by the Society’s members and who serve for a three-year period after which they must stand down for one year before being eligible for re-election. The trustees for the year end up to the date this report was signed were:

----- Start of picture text -----
Region 1 Region 2 Region 3 Region 4
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Region 1 Region 2 Region 3 Region 4
O Rounsevell A Smaridge J C Coward R D Ashcroft
N Bunkum R C Burrough A Riches
R Rowe R W Camp
A Rundle R Dennis
J Tucker

Region 5 Region 6 Region 7 K Finch R W Bostelmann Sir J Bell G Sell R Hadley T R F Smyth

PS Rowe, J Farnsworth, C Grisedale, J Fentem, H Ashcroft, J Shinner retired at the AGM in 2024; and they were replaced by K Finch, N Bunkum, A Smaridge, J Tucker, Sir J Bell, R Hadley,

O Rounsevell, R Burrough, J Coward, G Sell, R Bostelman, R Smyth will retire at the AGM in 2024.

Recruitment of trustees

The trustees are nominated and elected by secret ballot by the members of the Society in their regions as and when vacancies arise.

Induction and training of trustees

The trustees are encouraged to access information from the Charities Commission website as to their roles and responsibilities, and a Charities Commission introductory publication is made available to them at the start of their term as trustee. There is no formal training, but existing trustees assist new trustees with procedural practice, and help and advice is available from the Breed Secretary. New trustees are invited to attend the Council meeting immediately prior to the AGM where they take office but without voting powers.

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South Devon Herd Books Society

Trustees’ Report

Officers of the Society Chairman: E G Hawkins Deputy Chairman: C J Edwards Secretary: Pedigree Livestock Services

An Executive Committee appointed by Council formulates and carries out policy as directed by Council. Members of the Committee attend Council meetings but have no voting rights unless also Council members. The following were members of the Executive Committee during the year:

E Hawkins (Chairman), C J Edwards, R A Ford, R V Hartshorn, P S Rowe, R A Rundle (co-opted) and G H Tully.

Subsidiary committees – Breed Development and Breed Promotion – met during the year to formulate and carry out policy as directed by Council. Their members were appointed by Council. In addition, Judges Advisers met once with the Executive Committee.

Work of the Society

The Breed Secretary – Pedigree Livestock Services- has day to day responsibility for the running of the business. This includes – Our pedigree registration work, DNA and management of Breedplan, organising events, sourcing advice for members and non-members, producing the Society’s information publications and the breed journal, our office administration work and our bookkeeping and invoicing. They also advise the Council on policy matters and decisions.

A Griffin – Our Breed Promotion Executive is responsible for promoting the breed and increasing our membership and registrations. Engaging with existing and new members – Anna promotes the breed and meets with members across the country and attends shows and events – working closely with Pedigree Livestock Services, Executive and Council.

Objectives

The Society exists to maintain the purity and improve the breeding of South Devon cattle in the United Kingdom of Great Britain and Northern Ireland or elsewhere throughout the world. This is carried out by:

Review of Society

In December 2022 the trustees commissioned a review of the Society to include its structure and activities. This was carried out by three individuals and presented to Council in February 2023. Recommendations and observations were made and a number of measures immediately instigated, including a review of the Articles of Association, a new Treasurer appointment, and new promotional investments. Following on from the review, the financial position of the society meant that the Council and Executive had to take the decision to re-structure the society for the benefit of the breed, members and future generations. Our high cost base and reducing income and large trading deficit meant the decision was taken to make our 2 members of staff redundant and close the Exeter office. Registration and Breed Secretary work was outsourced to Pedigree Livestock Services and our book keeping and accounts which were undertaken on a self-employed basis, were also transferred at the end of the year. The Society appointed Anna Griffin as our Breed Promotion Executive on a self-employed basis to work with the society and help promote and grow our great breed!

Public benefit

The trustees have complied with the duty in section 17 (5) of the 2011 Charities Act to have due regard to the guidance published by the Charity Commission.

The Society seeks to inform the public and its members of the benefits of breeding South Devon cattle including its suitability for environmental schemes and low carbon regenerative mixed farming practices. It achieves this through its publications, website, social media platform, staging of publicity and information events, and participation at public industry events such as agricultural shows, exhibitions and open days. It sponsors youth activities and holds competitions specifically for younger members.

Through its work the Society promotes the South Devon breed as a grazing beef breed native to the UK, contributing to the sustainability of the environment in high welfare, low carbon emitting systems by converting pasture to a high quality, healthy, consumable product.

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South Devon Herd Books Society

Trustees’ Report

The Society encourages its members to implement high biosecurity and welfare standards, and to protect their herds from a range of endemic cattle diseases by way of knowledge transfer.

Review of activities

Government support systems linked to environmental safeguarding were further rolled out to replace the EU farm subsidy system. This in addition to the increasing impacts of climate change, issues of carbon emissions, and Brexit implications made for considerable uncertainty in future farming practices and an urgent need for the consideration of further on-farm management efficiencies and adaptability.

The UK beef market has been extremely strong throughout the year, with some record prices, which was good for sellers of store and finished cattle. However, this has continued to encouraged more female stock to be sold for beef rather than retained as pedigree, and the year saw a further significant fall in female registration activity.

In addition to pedigree registrations members are offered a range of services including free weight recording, DNA testing, and a regular information service. Society regions arrange local events for members and guests, such as farm walks and herd competitions.

The two premier Society Sales were held in the spring and autumn and both were successful. The South Devon Cattle Breeders Club held a spring sale.

The Society expended resources on breed stands at the Royal Cornwall, Devon County, and Royal Welsh Shows; AgriExpo Carlisle; Agri-Fest Exeter.

The breed promotion committee undertook more direct work involving social media, website design, and the design of new materials for stand display and hand-out information.

The breed development committee has worked on updating the breed society semen catalogue in conjunction with Anna Griffin.

The Society’s publications during the year included: the breed Journal; sale catalogues; semen lists; and regular newsletters. In addition, the Society’s social media pages were regularly populated by members of the breed promotion committee and our Breed Promotion Executive – this is really helping to promote the breed. Anna Griffin produced a 12 days of Christmas programme promoting the breed on social media and this received a huge response and helped reach a new audience.

Financial review

The gross incoming resources for the year amounted to £188,821 (£205,356 in 2023). Total expenditure was £290,224 (£238,474 in 2023). The results from the year from normal activities show a deficit of £101,403 compared to a deficit of £51,750 in the previous 12 months. There were net realised gains from investments of £28,502 (£22,116 in 2023), resulting in a total net movement in funds of (£72,901). The total investment portfolio value at the end of the year stood at £441,023 (£523,051 in 2023). Total charity funds at the end of the year stood at £505,146 (£578,047 at the end of 2023).

Statistical information/comment

Membership
Full
Associate & Retired
Life
Youth
Introductory
Registrations
Male
Female		 At 26/03/25
432
44
33
3
12
524
2024
169
2129
2298		 2023
458
45
33
4
17
557
2023
169
2412
2581		 Transfers
Males
Female		 2024
94
215
309		 2023
82
208
290

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South Devon Herd Books Society

Trustees’ Report

Investment Policy and Preference

The Society’s investment objective is to maintain and enhance the value of the fixed assets over the long term to maintain and, if possible, to increase the income available for the purpose of the charity.

To achieve this objective the policy of the Society is to invest in a broad range of equities and fixed interest investments. The investments are regularly reviewed with the assistance of independent expertise and their performance compared with the appropriate indices.

Future Plans

The Society’s on-going objectives are to maintain the purity, improve the breeding, and promote the keeping of South Devon cattle in the United Kingdom or elsewhere in the world. Plans include the continued raising of the integrity of pedigree data; facilitating the availability of pedigree and other related information to members and non-members; encouraging the use of technical aids such as DNA testing and female type classification; promoting the breed to commercial beef producers; encouraging best practice in herd health; and the application of genomic EBVs for breed improvement and breeding selection.

Risk Assessment

The Society’s Risk Assessment has been reviewed in 2024, and a Register of Risks is maintained. Measures to reduce the exposure to risk are regularly reviewed. The Society has in place measures to acquire member permission for publication of their contact details on the website and in paper publications to protect personal data.

Reserves Policy

Unrestricted reserves at the end of the year totalled £505,146 of which £74,315 has been designated by the Trustees for particular purposes (as shown in the notes to the full accounts). This left general reserves of £430,831. The Trustees aim to maintain these reserves at a level sufficient to cover business running costs for a period of 12 months, taking into account the particular volatility of the agricultural industry. In addition, the policy is to keep surplus funds available for allocation to specific breed development and/or breed promotion activities as and when decided by the Trustees.

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South Devon Herd Book Society

Trustees' Report

Statement of trustees' responsibilities

The trustees (who are also the directors of South Devon Herd Book Society for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

22/09/2025

The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:

Edward Hawkins

signed on 22/09/2025, 20:18:36 BST ~~.........................................~~ E G Hawkins

Trustee

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South Devon Herd Book Society

Independent Examiner's Report to the trustees of South Devon Herd Book Society ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of South Devon Herd Book Society as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

...................................... Charlotte Chapman Gibbs BFP FCA Wortham Jaques Ltd Chartered Accountants and Charity Advisers

130a High Street Crediton Devon EX17 3 LQ

Date:.............................

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South Devon Herd Book Society

Statement of Financial Activities for the Year Ended 31 December 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Gains/losses on investment assets
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
25		 Unrestricted
funds
£
28,014
124,415
21,283
15,109
188,821
(9,480)
(280,744)
(290,224)
28,502
(72,901)
(72,901)
578,047
505,146		 Total
2024
£
28,014
124,415
21,283
15,109
188,821
(9,480)
(280,744)
(290,224)
28,502
(72,901)
(72,901)
578,047
505,146

The notes on pages 13 to 34 form an integral part of these financial statements. Page 9

South Devon Herd Book Society

Statement of Financial Activities for the Year Ended 31 December 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Gains/losses on investment assets
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
25		 Unrestricted
funds
£
29,480
140,269
19,915
15,142
204,806
(9,939)
(227,985)
(237,924)
22,116
(11,002)
(11,002)
589,049
578,047		 Restricted
funds
£
550
-
-
-
550
(6)
(544)
(550)
-
-
-
-
-		 Total
2023
£
30,030
140,269
19,915
15,142
205,356
(9,945)
(228,529)
(238,474)
22,116
(11,002)
(11,002)
589,049
578,047

All of the charity's activities derive from continuing operations during the above two periods.

The notes on pages 13 to 34 form an integral part of these financial statements. Page 10

South Devon Herd Book Society

(Registration number: 00035107) Balance Sheet as at 31 December 2024

Note
Fixed assets
Tangible assets
15
Investments
16
Current assets
Stocks
17
Debtors
18
Cash at bank and in hand
19
Creditors: Amounts falling due within one year
20
Net current assets
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Revaluation reserve
Total unrestricted funds
Total funds
25		 2024
£
33,747
441,023
474,770
3,601
44,908
12,058
60,567
(30,191)
30,376
505,146
405,055
100,091
505,146
505,146		 2023
£
31,542
523,051
554,593
1,372
33,062
23,131
57,565
(34,111)
23,454
578,047
495,819
82,228
578,047
578,047

For the financial year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The notes on pages 13 to 34 form an integral part of these financial statements. Page 11

South Devon Herd Book Society

(Registration number: 00035107) Balance Sheet as at 31 December 2024

22/09/2025

The financial statements on pages 9 to 34 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:

Edward Hawkins

~~.........................................~~ signed on 22/09/2025, 20:18:36 BST E G Hawkins Trustee

The notes on pages 13 to 34 form an integral part of these financial statements. Page 12

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

1 Charity status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: C/o Pedigree Livestock Services Holme House Ainstable Carlisle CA4 9RH

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

South Devon Herd Book Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

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South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £100.00 or more (other than trophies) are initially recorded at cost. Trophies are recorded as a donation at valuation and are capitalised in the year of donation.

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South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Show equipment and trophies 10% reducing balance Office equipment 20% reducing balance Computer equipment 20% reducing balance

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO) method.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Page 15

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 16

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

3 Income from donations and legacies

Donations and legacies;
Donations from individuals
Regular giving and capital donations
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
897
27,117
28,014
29,480		 Restricted
funds
£
-
-
-
550		 Total
funds
£
897
27,117
28,014
30,030
Members' services
Breed development
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
120,519
3,896
124,415
140,269		 Total
funds
£
120,519
3,896
124,415
140,269

Page 17

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

5 Income from other trading activities

Trading income;
Sales of goods and services
Other trading income
Auction of promises
Lotteries and competitions income
Total for 2024
Total for 2023		 Unrestricted funds
Designated
£
General
£
-
2,407
-
13,626
3,180
-
-
2,070
3,180
18,103
4,375
15,540		 Total
funds
£
2,407
13,626
3,180
2,070
21,283
19,915

6 Investment income

Income from dividends;
Dividends receivable from other listed investments
Interest receivable and similar income;
Interest receivable on bank deposits
Interest receivable on other loans
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
14,794
65
250
15,109
15,142		 Total
funds
£
14,794
65
250
15,109
15,142

7 Expenditure on raising funds

a) Costs of generating donations and legacies

Note
Depreciation, amortisation and other similar costs
Staff Costs
Allocated support costs
9
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
30
1,305
599
1,934
1,214		 Total
funds
£
30
1,305
599
1,934
1,214

Page 18

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

b) Costs of trading activities

Note
Costs of goods sold
Lotteries and competitions
Depreciation, amortisation and other similar
costs
Staff Costs
Allocated support costs
9
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
50
443
50
1,934
961
3,438
4,179		 Restricted
funds
£
-
-
-
-
-
-
6		 Total
funds
£
50
443
50
1,934
961
3,438
4,185

c) Investment management costs

Other investment management costs;
Amounts payable to investment managers
Total for 2024
Total for 2023
Costs of generating donations and legacies
Costs of trading activities
Investment management costs
Total for 2024
Total for 2023		 Note
Direct costs
£
-
493
4,108
4,601
8,934		 Unrestricted
funds
General
£
4,108
4,108
4,206
Allocated
support costs
£
1,934
2,945
-
4,879
1,011		 Total
funds
£
4,108
4,108
4,206
Total
costs
£
1,934
3,438
4,108
9,480
9,945

Page 19

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

8 Expenditure on charitable activities

Note
Members' services
Breed development
Breed promotion
Depreciation,
amortisation and
other similar costs
Staff costs
Allocated support
costs
9
Governance costs
9
Total for 2024
Total for 2023
Members' services
Breed development
Breed promotion
Total for 2024
Total for 2023		 Unrestricted funds
Designated
£
General
£
-
35,671
-
9,132
-
31,393
-
2,507
-
117,901
-
55,965
-
28,175
-
280,744
5,331
222,654
Activity
undertaken
directly
£
35,671
9,132
31,393
76,196
88,265		 Restricted
funds
£
-
-
-
-
-
-
-
-
544
Activity
support costs
£
133,895
17,769
24,709
176,373
121,380		 Total
funds
£
35,671
9,132
31,393
2,507
117,901
55,965
28,175
280,744
228,529
Total
expenditure
£
169,566
26,901
56,102
252,569
209,645

In addition to the expenditure analysed above, there are also governance costs of £28,176 (2023 - £18,884) which relate directly to charitable activities. See note 9 for further details.

Page 20

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

9 Analysis of governance and support costs

Charitable activities expenditure

Charitable activities expenditure
Basis of allocation
Prizes
Regional committees
Travelling
Breed research
Promotion and publicity
Breedplan costs
Shows, sales and competitions
Semen storage and distribution
DNA test costs
Journal production
Total for 2024
Total for 2023		 Unrestricted funds
Designated
£
General
£
-
586
-
142
-
3,771
-
131
-
13,852
-
17,701
-
18,590
-
963
-
10,753
-
9,707
-
76,196
5,331
82,390		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
544		 Total
funds
£
586
142
3,771
131
13,852
17,701
18,590
963
10,753
9,707
76,196
88,265

Page 21

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

Support costs allocated to raising funds

Basis of allocation
Costs of generating donations and legacies
A
Costs of trading activities
A
Total for 2024
Total for 2023
Support costs allocated to charitable activities
Basis of allocation
Members' services
A
Breed development
A
Breed promotion
A
Governance
A
Total for 2024
Total for 2023		 Staff costs
£
1,305
1,934
3,239
2,388
Staff costs
£
88,796
12,553
16,552
9,301
127,202
94,600		 Administration
costs
£
434
632
1,066
567
Administration
costs
£
30,161
4,452
5,907
4,859
45,379
20,634		 Premises costs
including
depreciation
£
132
263
395
428
Premises costs
including
depreciation
£
11,179
526
658
395
12,758
13,846		 Other support
costs
£
63
116
179
46
Other support
costs
£
3,759
238
1,592
178
5,767
1,440		 Total
funds
£
1,934
2,945
4,879
3,429
Total
funds
£
133,895
17,769
24,709
14,733
191,106
130,520

Page 22

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

Basis of allocation

Reference

Method of allocation

The amounts allocated to each activity are determined by the demand each activity has for A each support resource.

Governance costs

Staff costs
Wages and salaries
Social security costs
Pension costs
Other staff costs
Independent examiner fees
Examination of the financial statements
Legal fees
Depreciation, amortisation and other similar costs
Other governance costs
Allocated support costs
Total for 2024
Total for 2023
10 Net incoming/outgoing resources
Net outgoing resources for the year include:
Other non-audit services
Depreciation of fixed assets		 Unrestricted
funds
General
£
4,219
169
157
4,756
2,570
9,422
80
1,450
5,352
28,175
18,884
2024
£
2,570
2,667		 Total
funds
£
4,219
169
157
4,756
2,570
9,422
80
1,450
5,352
28,175
18,884
2023
£
2,450
1,016

11 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

Page 23

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

12 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs
Other staff costs		 2024
£
51,896
2,053
3,289
73,203
130,441		 2023
£
79,533
3,466
1,964
12,028
96,991

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

2024 2023
No No
Charitable activities 2 2

2 (2023 - 2) of the above employees participated in the Defined Contribution Pension Schemes.

Contributions to the employee pension schemes for the year totalled £3,289 (2023 - £1,964).

During the year, the charity made redundancy and/or termination payments which totalled £57,000 (2023 - £Nil).

No employee received emoluments of more than £60,000 during the year.

13 Independent examiner's remuneration

13 Independent examiner's remuneration
2024 2023
£ £
Examination of the financial statements 2,570 2,450

Page 24

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

14 Taxation

The charity is a registered charity and is therefore exempt from taxation.

15 Tangible fixed assets

Cost
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
16 Fixed asset investments
Other investments		 Furniture and
equipment
£
14,555
3,815
18,370
14,061
573
14,634
3,736
494		 Computer
equipment
£
22,177
1,056
23,233
20,581
1,648
22,229
1,004
1,596		 Trophies and
show
equipment
£
35,129
-
35,129
5,677
445
6,122
29,007
29,452
2024
£
441,023		 Total
£
71,861
4,871
76,732
40,319
2,666
42,985
33,747
31,542
2023
£
523,051

Page 25

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

Other investments

Cost or Valuation
At 1 January 2024
Revaluation
Additions
Disposals
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Listed
investments
£
517,787
28,502
152,857
(266,361)
432,785
432,785
517,787		 Unlisted
investments
£
5,264
-
283,152
(280,178)
8,238
8,238
5,264		 Total
£
523,051
28,502
436,009
(546,539)
441,023
441,023
523,051

The market value of the listed investments at 31 December 2024 was £432,785 (2023 - £517,787).

17 Stock

Stocks
18 Debtors
Trade debtors
Prepayments
Accrued income
VAT recoverable
Other debtors		 2024
£
3,601
2024
£
35,710
1,220
1,336
1,682
4,960
44,908		 2023
£
1,372
2023
£
25,459
4,595
-
-
3,008
33,062

Debtors includes £2,997 (2023: £2,997) receivable after more than one year.

Other debtors 2024
£
2,997		 2023
£
2,997

Page 26

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

19 Cash and cash equivalents

19 Cash and cash equivalents
Cash on hand
Cash at bank
20 Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals
Deferred income
Deferred income at 1 January 2024
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end		 2024
£
-
12,058
12,058
2024
£
14,973
104
5,687
8,657
770
30,191
2024
£
540
230
-
770		 2023
£
173
22,958
23,131
2023
£
22,606
2,553
4,890
3,522
540
34,111
2023
£
640
-
(100)
540

Deferred income relates to life membesrhip subscriptions released over 10 years with a total unexpired value of £770 (2023: £540).

21 Obligations under leases and hire purchase contracts

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Land and buildings
Between one and five years
Other
Within one year
Between one and five years		 2024
£
-
6,782
4,253
11,035		 2023
£
50,350
6,782
7,089
13,871

Page 27

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

22 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £3,289 (2023 - £1,964).

23 Reserves

At 1 January 2024
Transfer of surplus funds
Unrealised gain on investments
At 31 December 2024
At 1 January 2023
Transfer of surplus funds
Unrealised gain on investments
At 31 December 2023		 Unrestricted
revaluation
reserve
£
82,228
(10,639)
28,502
100,091
Unrestricted
revaluation
reserve
£
56,442
3,670
22,116
82,228		 Total
£
82,228
(10,639)
28,502
100,091
Total
£
56,442
3,670
22,116
82,228

24 Contingent liabilities

Registration fees paid will be credited upon application by the breeder who paid the registration fee where registered animals have been slaughtered before they are 30 months old. All applications must be made within 4 months of the animal's slaughter. The Society estimates the contingent liability arising to be in the region of £10,000 per year.

Page 28

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

25 Funds

Unrestricted funds
General
Unrestricted funds
Designated
National show
Genomic predictor
Breed promotion
Total funds		 Balance at 1
January 2024
£
508,539
14,419
53,220
1,869
69,508
578,047		 Incoming
resources
£
185,641
3,180
-
-
3,180
188,821		 Resources
expended
£
(290,224)
-
-
-
-
(290,224)		 Transfers
£
(1,627)
1,627
-
-
1,627
-		 Other
recognised
gains/(losses)
£
28,502
-
-
-
-
28,502		 Balance at 31
December
2024
£
430,831
19,226
53,220
1,869
74,315
505,146

Page 29

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

Unrestricted funds
General
Unrestricted funds
Designated
National show
Genomic predictor
Breed promotion
Total unrestricted funds
Restricted funds
Directed donations
Total funds		 Balance at 1
January 2023
£
519,316
14,644
53,220
1,869
69,733
589,049
-
589,049		 Incoming
resources
£
200,431
4,375
-
-
4,375
204,806
550
205,356		 Resources
expended
£
(232,593)
(5,331)
-
-
(5,331)
(237,924)
(550)
(238,474)		 Transfers
£
(731)
731
-
-
731
-
-
-		 Other
recognised
gains/(losses)
£
22,116
-
-
-
-
22,116
-
22,116		 Balance at 31
December
2023
£
508,539
14,419
53,220
1,869
69,508
578,047
-
578,047

Page 30

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

The specific purposes for which the funds are to be applied are as follows:

Designated Funds

National Show

Allocation of the Club fund net income (£1,627) plus income from the Auction of Promises received this year (£3.180) towards the costs of the National Show.

DNA Research

Council agreed in September 2014 to set aside up to £60,000 from the Society’s reserves towards this project and the costs have amounted to £6,780 to date.

Breed Promotion

Council agreed to set aside funds to be used for breed promotional purposes, such as show equipment for the display of graphic and videos.

Directed Donations

Gifts received where the donor has specified their wishes for the use of the funds.

26 Analysis of net assets between funds

Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
£
Designated
£
33,747
-
366,708
74,315
60,567
-
(30,191)
-
430,831
74,315
Unrestricted funds
General
£
Designated
£
31,542
-
453,543
69,508
57,565
-
(34,111)
-
508,539
69,508		 Total funds at
31 December
2024
£
33,747
441,023
60,567
(30,191)
505,146
Total funds at
31 December
2023
£
31,542
523,051
57,565
(34,111)
578,047

Page 31

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

27 Analysis of net funds

Cash at bank and in hand
Net debt
Cash at bank and in hand
Net debt		 At 1 January
2024
£
23,131
23,131
At 1 January
2023
£
50,864
50,864		 Financing cash
flows
£
(8,076)
(8,076)
Financing cash
flows
£
(27,733)
(27,733)		 At 31
December
2024
£
15,055
15,055
At 31
December
2023
£
23,131
23,131

28 Related party transactions

During the year the charity made the following related party transactions:

H M Ashcroft

(Trustee to 02/04/2024)

Purchases from the Society at arms-length value £60.. At the balance sheet date the amount due to/from H M Ashcroft was £Nil (2023 - £Nil).

Sir J L Bell

(Trustee from 02/04/2024)

Purchases from the Society at arms-length value £628.. At the balance sheet date the amount due to/from Sir J L Bell was £Nil (2023 - £Nil).

R W Bostelmann

(Trustee)

Purchases from the Society at arms-length value £219.50.. At the balance sheet date the amount due from R W Bostelmann was £30 (2023 - £66 due to).

N W Bunkum

(Trustee from 02/04/2024)

Purchases from the Society at arms-length value £296. Credits received relating to performance recording, animal registration credits or National Show exhibitor incentives totalling £30.. At the balance sheet date the amount due from N W Bunkum was £132 (2023 - £Nil).

R C Burrough

(Trustee)

Purchases from the Society at arms-length value £2,266.. At the balance sheet date the amount due from R C Burrough was £727 (2023 - £Nil).

R W Camp

(Trustee)

Purchases from the Society at arms-length value £409.50.. At the balance sheet date the amount due from R W Camp was £224 (2023 - £89).

Page 32

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

J C Coward

(Trustee)

Purchases from the Society at arms-length value £441. Credits received relating to performance recording, animal registration credits or National Show exhibitor incentives totalling £30.. At the balance sheet date the amount due to/from to J C Coward was £Nil (2023 - £108).

R L Dennis

(Trustee)

Purchases from the Society at arms-length value £212. Credits received relating to performance recording, animal registration credits or National Show exhibitor incentives totalling £15.. At the balance sheet date the amount due to/from R L Dennis was £Nil (2023 - £Nil).

J Farnsworth

(Trustee to 02/04/2024) Purchases from the Society at arms-length value £60. At the balance sheet date the amount due to/from J Farnsworth was £Nil (2023 - £Nil).

J Fentem

(Trustee to 02/04/2024)

Purchases from the Society at arms-length value £309. Credits received relating to performance recording, animal registration credits or National Show exhibitor incentives totalling £150.. At the balance sheet date the amount due to/from to J Fentem was £Nil (2023 - £108).

C O F Grisedale

(Trustee to 02/04/2024) Purchases from the Society at arms-length value £496.43.. At the balance sheet date the amount due to/from C O F Grisedale was £Nil (2023 - £Nil).

E G Hawkins

(Trustee to 02/04/2024) Purchases from the Society at arms-length value £162.50.. At the balance sheet date the amount due to/from from E G Hawkins was £Nil (2023 - £155).

A L Pascoe

(Trustee to 02/04/2024) Purchases from the Society at arms-length value £92.50.. At the balance sheet date the amount due to/from A L Pascoe was £Nil (2023 - £Nil).

O W T Rounsevell

(Trustee)

Purchases from the Society at arms-length value £639.. At the balance sheet date the amount due to/from O W T Rounsevell was £Nil (2023 - £Nil).

P S Rowe

(Trustee to 02/04/2024)

Purchases from the Society at arms-length value £230.. At the balance sheet date the amount due to/from from P S Rowe was £Nil (2023 - £656).

R Rowe

(Trustee)

Purchases from the Society at arms-length value £3,990. Credits received relating to performance recording, animal registration credits or National Show exhibitor incentives totalling £456.25.. At the balance sheet date the amount due to/from from R Rowe was £Nil (2023 - £30).

R A Rundell

(Trustee)

Purchases from the Society at arms-length value £810. Credits received relating to performance recording, animal registration credits or National Show exhibitor incentives totalling £285. At the balance sheet date the amount due from R A Rundell was £30 (2023 - £404).

Page 33

South Devon Herd Book Society

Notes to the Financial Statements for the Year Ended 31 December 2024

G Sell

(Trustee)

Purchases from the Society at arms-length value £1142.. At the balance sheet date the amount due to/from G Sell was £Nil (2023 - £Nil).

J W Shinner

(Trustee to 02/04/2024) Purchases from the Society at arms-length value £60.. At the balance sheet date the amount due to/from from J W Shinner was £Nil (2023 - £389).

T R F Smyth

(Trustee)

Purchases from the Society at arms-length value £60. At the balance sheet date the amount due to/from from T R F Smyth was £Nil (2023 - £491).

Page 34 

Signatures' technical details

Signatures

edward.hawkins@cutseyfarm.co.uk

22/09/2025, 20:18:36 BST

Fingerprint

a2bb98585d0ecd531b9363ca7101bacc538fe954

Event log

10.50.11.21319/09/2025, 16:13:52 BST
Signing request created.
System19/09/2025, 16:13:54 BST
Notification sent to edward.hawkins@cutseyfarm.co.uk.
System22/09/2025, 09:45:06 BST
Signing page opened by signee edward.hawkins@cutseyfarm.co.uk.
System22/09/2025, 09:45:16 BST
Signing page opened by signee edward.hawkins@cutseyfarm.co.uk.
System22/09/2025, 09:48:16 BST
Signing page opened by signee edward.hawkins@cutseyfarm.co.uk.
System22/09/2025, 20:17:15 BST
Signing page opened by signee edward.hawkins@cutseyfarm.co.uk.
System22/09/2025, 20:18:36 BST
Signee edward.hawkins@cutseyfarm.co.uk signed document.
System22/09/2025, 20:18:36 BST
Signing process completed.

Summary

Envelope's ID:c5hofjep
Document's hash:7165b7824683ef2f611c1fbb55eaa8264248077548c480a5fdbda580383da301
Final stamp:22/09/2025, 20:18:37 BST

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Verification QR Code
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