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

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				Page
Report ofthe Trustees			I	to	8
Chairman's	Report		9	to	10
Treasurer's	Report		11	to	12
Report ofthe Independent		Auditors	13	to	16
Consolidated	Statement ofFinancial Activities			17
Consolidated	Balance Sheet			18
Charity Balance Sheet				19
Consolidated	Cash Flow	Statement		20
Notes to the	Consolidated	Cash Flow Statement		21
Notes to the	Consolidated	Financial Statements	22	to	35
Detailed Statement ofFiaancial Activities			36	to	38

			BRITISH LIMOUSIN CATTLE SOCIETY LIMITED	BRITISH LIMOUSIN CATTLE SOCIETY LIMITED	BRITISH LIMOUSIN CATTLE SOCIETY LIMITED	BRITISH LIMOUSIN CATTLE SOCIETY LIMITED	BRITISH LIMOUSIN CATTLE SOCIETY LIMITED	BRITISH LIMOUSIN CATTLE SOCIETY LIMITED
		REGISTERED COMPANY NUMBER 00989511					n land and		Wales
		CONSOLIDATED			STATEMENT OFFINANCIAL ACTIVITIES
		NCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FORTHE YEAR ENDED 31DECEMBER 2020
				A COMPANY LIMITED BYGUARANTEE
									2020	2019
						Unrestricted	Restricted		Total	Total
						fund	fund		funds	funds
INCOME	AND ENDOWMENTS			FROM	Notes		8		E
Donations	and legacies				2	137,400			137,400	141,335
Charitable	activities				5
Charitable	activities					736,899			736,899	709,380
Other trading activities Investment income					3 4	71,701 33403			71,701 53403	73,851 75 829
Total						999,403			999,403	1,000,395
EXPENDITURE ON
Raising funds					6	42,204			42,204	51,125
Charitable	activities				7
Charitable	activities					848,134			848,134	1,079,205
Total						890,338			890,338	1,130,330
Net gains on investments						20 033			20 093	210465
NET INCOME						129,158			129,158	80,530
RECONCILIATION		OF FUNDS
Total funds brought		forward				2,933,038			2,933,038	2,852,508
TOTAL FUNDS CARRIED			FORWARD			3062 196		-	3 062 196	2,933038

	BRITISHLIMOUSIN CATTLE SOCIETYLIMITED REGISTERED COMPANY NUMBER 00989511 n land and	BRITISHLIMOUSIN CATTLE SOCIETYLIMITED REGISTERED COMPANY NUMBER 00989511 n land and	BRITISHLIMOUSIN CATTLE SOCIETYLIMITED REGISTERED COMPANY NUMBER 00989511 n land and	BRITISHLIMOUSIN CATTLE SOCIETYLIMITED REGISTERED COMPANY NUMBER 00989511 n land and	Wales
		CONSOLIDATED BALANCE SHEET
		31DECEMBER 2020
	A	COMPANY LIMITED BYGUARANTEE
					2020	2019
			Unrestricted	Restricted	Total	Total
			fund	fund	funds	funds
FIXEDASSETS		Notes				6
Intangible assets Tangible assets Investments		13 14 15	41,735 979,272 I 833552		41,735 979,272 ~1833552	49,735 984,262 1,801,606
			2,854,559		2,854,559	2,835,603
CURRENT ASSETS
Stocks Debtors Cash at bank and in hand		]6 17	8514 256,168 319875		8,514 256,168 319875	12,048 220,236 ~212632
			584,557		584,557	444,916
CREDITORS
Amounts falling due within	one year	18	(376,920)		(376,920)	(347,481)
NET CURRENT ASSETS			207637		207 637	97435
TOTAL ASSETSLESSCURRENT
LIABILITIES			3,062,196		3,062,196	2,933,038
NET ASSETS			3,062 196	-	~3062,196	2,933038
FUNDS		20
Unrestricted funds					3,062 196	2,933038
TOTAL FUNDS					3,062 196	2,933038

				2020	2019
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
FIXEDASSETS	Notes		f.		g
Intangible assets Tangible assets Investments	13A 14A 15A	41,735 979,272 1 859052		41,735 979,272 1 859052	49,735 984,261 1,827,106
		2,880,059		2,880,059	2,861,102
CURRENT ASSETS
Stocks Debtors Cash at bank and in hand	16A 17A	5,754 381,056 113604		5,754 381,056 113,604	9,288 305,772 44,895
		500,414		500,414	359,955
CREDITORS
Amounts falling due within one year	18A	(351,715)		(351,715)	(321,568)
NET CURRENT ASSETS		148,699		148699	38387
TOTAL ASSETSLESSCURRENT
LIABILITIES		3,028,758		3,028,758	2,899,489
NET ASSETS		3,028 758		3 028,758	2 899,489
FUNDS	20
Unrestricted funds				3,028758	2,899489
TOTAL FUNDS				3,028,758	2,899489

		Notes	2020 6	2019
Cash flows from operating activities
Cash generated from operations Tax paid			110,964 ~21	(174,270) 21
Net cash provided by/(used in) operating		activities	110943	174249
Cash flows from investing activities
Purchase oftangible fixed assets Purchase offixed asset investments Sale offixed asset investments Interest received Dividends received			(23,265) (204,491) 128,553 464 30953	(4,431) (1,003,951) 1,141,191 2,094 46 317
Net cash (used in)/provided by investing		activities	~67786)	181,220
Change in cash and cash equivalents the reporting period Cash and cash equivalents at the	in		43,157	6,972
beginning ofthe reporting period			509533	502,561
Cash and cash equivalents at the end	of
the reporting period			552 690	509,533

ACTIVITIES	CASH FLOW FROM	PERATING
		2020	2019
Net income for the Activities) Adjustments for:	reporting period (as per the Statement ofFinancial	129,158	E 80,530
Depreciation charges Gain on investments Loss on disposal offixed assets Interest received Dividends received Decrease/(increase) in stocks (increase)/decrease in debtors Increase/(decrease) in creditors		36,147 (20,093) 108 (464) (30„953) 3,534 (35,931) 29458	29,878 (210,465) (2,094) (46,317) (3,496) 12,313 ~34619
Net cash provided	by/(used in) operations	110,964

	At 1.1.20	Cash flow	At 31.12.20
	6
Net cash
Cash at bank and in hand	509533	43 157	552,690
	509533	43,157	552 690
Total	509533	43 157	552 690

		2020	2019
Subscriptions		K 137400	~141335
OTHER TRADING ACTIVITIES
		2020	2019
Shop/promotional goods Miscellaneous Semen sales Remitted to suppliers Entry fees Packing and delivery		5,041 4,106 127,563 (99,098) 6,472 27,617	6,847 2,515 184,956 (156,798) 7,395 28 936
		71701	~73 851
INVESTMENT	INCOME
		2020	2019
Rents received Interest receivable Income from UK	on cash deposits listed investments	f. 21,986 463 30,954	27,418 2,094 46317
		53,403	75,829

	Bitth registration fees POT fees Import/export fees DNA testing Shows and events Livestock commissions Semen royalty (net) Society publications and		Activity Charitable Charitable Charitable Charitable Charitable Charitable Charitable	activities activities activities activities activities activities activities		2020 6 372,778 53,000 5,250 194,893 3,915 44,145 12,233	2019 f. 397,002 53,803 3,150 149,082 4,590 52,404 7,821
	advertising Limousin performance		Charitable	activities		12,325	2,550
	recording		Charitable	activities		38 360	38,978
						736,899	709380
	RAISING FUNDS
	Other trading activities
						2020	2019
	Shop/ promotional goods Packing and delivery Health certificates Support costs					6 3,473 16,391 100 13 976	6 6,555 16,736 1,231 ~16 000
						33,940	40,522
	Investment management	costs
						2020	2019
	Supportcosts					8 264	10603
	Aggregate amounts					42 204	51,125
7.	CHARITABLE ACTIVITIES		COSTS
						Support
					Direct	costs (see
					Costs	note 8)	Totals
	Charitable activities				463370	384 764	848 134

SUPPOR	T COSTS		GU	RANTEE
					Governance
		Finance	Other	Tax	costs	Totals
Other trading activities Investment management		(788)	11,792	8 (21)	6 2,993	13,976
costs Charitable	activities	7,490 3,442	774 310003		71319	8,264 384764
		10 144	322 569		74312	407 004

NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
	2020	2019
Depreciation - owned assets Deficit on disposal offixed assets Taurus database amortisation Auditor's remuneration	28,148 108 8,000 7 500	21,879 8,000 7,400

					2020	2019
Wages and salaries Social security costs Pension costs					141,421 9,306 3 549	281,845 26,658 12422
					154,267	329 925
The average monthly	number ofemployees		during the year was	as follows:
Breed secretary / Chief Executive Herd book personnel Technical manager					2020 I 3 I	2019 I 4 I
The number ofemployees		whose employee	benefits (excluding	employer pension	costs) exceeded	I60,000was:
f150,000 - 8160,000					2020	2019 I

	2020	2019
		E
Gross sales Less payment Net amount	118,088 (105,855) 12233	120,935 (113,114) 7 821

INTANGIBLE FIXEDASSETS(GROUP)
		Maternal
	Tamils	Traits	TSB
	database	project	project	Totals
COST
At 1 January 2020 and 31December 2020	69735	84980	116,863	271 578
AMORT ISATION
At 1 January 2020 Charge for year	20,000 8000	84,980	116,863	221,843 8,000
At 31December 2020	28 000	84980	116863	229 843
NET BOOK VALUE
At 31December 2020	41,735			41 735
At 31December 2019	49,735			49,735
INTANGIBLE FIXEDASSETS(CHARITY)
		Maternal
	Taunts	Traits	TSB
COST	database 6	project	project I	Totals I
At 1 January 2020 and 31December 2020	~69735	~84980	116863	271 578
AMORT ISATION
At 1 January 2020 Charge for year	20,000 8 000	84,980	116,863	221,843 8 000
At 31December 2020	28000	84 980	116863	229 843
NET BOOK VALUE
At 31December 2020	41,735			41,735
At 31December 2019	49,735			49,735

TANGIBLE FIXEDASS	ETS(GROUP)
		Fixtures
	Freehold	and	Motor	Computer
COST At 1 January 2020 Additions Disposals	property g 1,073,689	fittings 34,142 ~14438)	vehicles K 21,675	equipment 6 146,721 1,590 ~80480	Totals 1,254,552 23,265 ~94,918)
At 31December 2020	~1073,689	19704	21,675	67831	1,182,899
DEPRECIATION
At 1 January 2020 Charge for year Eliminated on disposal	99,298 18,369	33,966 125 ~34439	5,419	137,026 4,235 ~80,372)	270,290 28,148 ~94,811)
At 31December 2020	117667	19,652	5,419	60,889	203 627
NET BOOK VALUE
At 31December 2020	956,022	52	16256	6,942	979272
At 31December 2019	974,391	176		9695	984262

TANGIBLE FIXEDASSE	TS(CHARITY)
		Fixtures
	Freehold properly	and fittings	Motor vehicles	Computer equipment	Totals
COST		6			6
At 1 January 2020 Additions Disposals	1,073,689	34,142 ~34438	21,675	127,304 1,591 ~80,480)	1,235,135 23,266 ~94918
At 31December 2020	I 073 689	19704	21 675	48,415	1 163483
DEPRECIATION
At 1 January 2020 Charge for year Eliminated on disposal	99,298 18,369	33,966 125 ~14439)	5,419	117,610 4,235 ~80,372)	250,874 28,148 ~94811
At 31December 2020	117667	19652	5419	41473	184211
NET BOOK VALUE
At 31December 2020	956,022	52	16,256	6942	979272
At 31December 2019	974391	176		9,694	984,261

	2020	2019
Shares
Other	1,596,731 236 821	1,500,700 300906
	1 833552	1 801 606

Additional information as follows:
	Listed
	investments
MARKET VALUE
At 1 January 2020 Additions	1,500,700
Disposals Revaluations	204,491 (128,553)
	20,093
At 31December 2020	1 596,731
NKT BOOK VALUE
At 31December 2020	1,596,731
At 31December 2019	1500,700

		2020	2019
Cash Cups	deposits and trophies	f, 232,821 4 000	296,906 4,000
		236,821	300,906

	2020	2019
Shares	6	f.
Other	1,596,731	1,500,700
	262 321	326,406
	1 859,052	1,827,106

			Listed
			investments
MARKET VALUE			f.
At 1 January 2020 Additions			1,500,700
Disposals Revaluations			204,491 (128,553)
			20 093
At 31December 2020			1 596,731
NET BOOK VALUE
At 31December 2020			1 596,731
At 31December 2019			1,500700
There were no investment	assets outside the UK.
Investments (neither listed	nor unlisted) were as follows:
		2020	2019
Investment in subsidiary Cash deposits Cups and trophies		6 25,500 232,821 4 000	6 25,500 296,906 4 000
		2~	~2

	Semenstore Limited	Semenstore Limited
	Registered office: United Kingdom
	Nature ofbusiness: Commission	on sale ofsemen
	Class ofshare:		holding
	Ordinary		100
				2020	2019
	Aggregate capital and reserves Loss for the year			25,284 ~132	6 25,146
	Taurus Agridirect Limited
	Registered office: United Kingdom
	Nature ofbusiness: Dormant
	Class ofshare:		holding
	Ordinary		100
				2020	2019
	Aggregate capital and reserves Loss for the year			2,059	2,059 ~57
16.	STOCKS (GROUP)
				2020	2019
	Stocks Finished goods			2,760 5754	g 2,760 9,288
				8,514	12,048
16A.	STOCKS (CHARITY)
				2020	2019
	Finished goods			5 5,754	6 9,288

17.	STATEMENTS-C FOR THE YEAR ENDED 31DECEMBER 2020 A COMPANY LIMITED BYGUARANTEE DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR (GROUP)	NTINUED
		2020	2019
	Trade debtors Other debtors Prepayments and accrued income	g 217,757 158 38253	205,038 200 14998
		256 168	220,236
17A.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR (CHARITY)
		2020	2019
	Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income	214,586 128,385 158 37927	201,936 89,385 14451
18.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (GROUP)
		2020	2019
	Trade creditors Tax	64,961	116,379
	Social security and other taxes Other creditors Accruals and deferred income	45,542 266417	21 29,486 180 201415
		376920	347481

CREDITORS: AMOUNTS FALLING DUE WITHIN O	NE YEAR (CHARITY)
	2020	2019
Trade creditors Amounts owed to group undertakings Social security and other taxes Other creditors Accruals and deferred income	260 200 6 48,098 137 43,280	99,835 137 26,929 180 194487

MOVEMENT	INFUNDS
			Net
			movement	At
		At 1.1.20	in funds	31.12.20
Unrestricted	funds
General fund		2,933,038	129,158	3,062,196
TOTAL FUNDS		~2933038	129 158	3 062 196

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
Unrestricted	funds			8
General fund		999,403	(890,338)	20,093	129,158
TOTAL FUNDS		999403		20,093	129,158

			Net
			movement	At
		At 1.1.19	in funds	31.12.19
Unrestricted	funds
General fund		2,852,508	80,530	2,933,038
TOTAL FUNDS		2 852 508	80,530	2 933038

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
Unrestricted	funds			f.
General fund		1,000,395	(1,130,330)	210,465	80,530
TOTALFUNDS

			Net
			movement	At
		At 1.1.19	in funds	31.12.20
Unrestricted	funds	6
General fund		2,852,508	209,688	3,062,196
TOTALFUNDS		2 852,508	209,688	3062 196

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
Unrestricted	funds	8		6	8
General fund		1,999,798	(2,020,668)	230,558	209,688
TOTAL FUNDS		1,999798	(2~020668	230 558	209 688