2021-12-31-accounts - The British Limousin Cattle Society Limited

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			Page
Report ofthe Trustees			1 to 8
Chairman's	Report
Treasurer's	Report		10to 11
Report ofthe Independent		Auditors	12to 15
Consolidated	Statement ofFinancial Activities		16
Consolidated	Balance Sheet		17
Charity Balance Sheet			18
Consolidated	Cash Flow	Statement	19
Notes to the	Consolidated	Cash Flow Statement	20
Notes to the	Consolidated	Financial Statements	21 to 34
Detailed Statement ofFinancial Activities			35 to 37

Aims
The main aspects ofthe Society's work are:
the maintenance ofan accurate herdbook and the provision	ofherdbook services to				members
the management oftechnical and breed impmvement pmgrammes
the funding ofeducational programmes through agricultural	colleges
national genetic evaluation ofthe breed and the pmvision ofperfonnance		recording			to all members
the promotion ofLimousin cattle, beef, semen and embryos	to all potential		markets
Objectives for the year
The main objectives for the year 2021 were:
the provision ofquality cattle that surpass the level ofexpectation and profitability					anticipated	by the
commercial customer base
to pursue the Society's breed improvement objectives
to develop the Society's portfolio oftechnical and marketing	projects
the further development ofTaurus, the Society's on-line herdbook database
the promotion ofBLCSproducts and services at industry events within the			UK
representation ofmembers' interests at all relevant industry	forums
Limousin Solutions Limited
Objectives:
To assist with the trade ofthe subsidiary companies and review potential opportunities				in the	future.

			BRITI	H L		CATTLE	CATTLE	LIMITED	LIMITED	LIMITED
		REGISTERED		OMPANY NUMBER 0 89511				n	and and		Wales
		CONSOLIDATED			TATEMENT OF FINANCIAL				ACTIVITIES
		INCORPORATING			AN INCOME		AND EXPENDITURE			ACCOUN
			F RTHE YEAR			ENDED IDECEMBER2021
					ANY LIMI		G ARANTEE
											2021	2020
							Unrestricted	Restricted			Total	Total
							fund		fund		funds	funds
					Notes						8	8
INCOME	AND ENDOWMENTS FROM
Donations	and legacies				2		136,654				136,654	137,400
Charitable	activities				5
Charitable	activities						766,183				766,183	736,899
Other trading activities Investment income					3 4	41,696 ~62574					41,696 ~62 574	71,701 ~53403
Total							1,007,107				1,007,107	999,403
EXPENDITURE ON
Raising funds					6		43,372				43,372	42,204
Charitable	activities				7
Charitable	activities						941,343				941,343	848,134
Total							984,715				984,715	890,338
Net gains on investments						~174014					~174014	~20093
NET INCOME							196,406				196,406	129,158
RECONCILIATION		OF FUNDS
Total funds brought		forward					3,062,196				3,062,196	2,933,038
TOTAL FUNDS CARRIED			FORWARD			~3258602				-	~3258602	~3062,196

				2021	2020
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
FIXEDASSETS	Notes				6
Intangible assets Tangible assets Investments	13 14 15	33,735 987,598 ~2032 816		33,735 987,598 ~2032 816	41,735 979,272 ~1833552
		3,054,149		3,054,149	2,854,559
CURRENT ASSETS
Stocks Debtors Cash at bank and in hand	16 17	2,760 236,990 ~397077		2,760 236,990 ~397077	8,514 256,168 ~319875
		636,827		636,827	584,557
CREDITORS
Ainounts falling due within one year	18	(432,374)		(432,374)	(376,920)
NET CURRENT ASSETS		~204 453		204 453	~207 637
TOTAL ASSETSLESSCURRENT
LIABILITIES		3,258,602		3,258,602	3,062,196
NET ASSETS		~3,258 602	-	~3258602	~3062,196
FUNDS	20
Unrestricted funds				3 258 602	~3 062 196
TOTAL FUNDS				3258 602	~3062 196

	BRITISH	OUSIN CATTLE	OUSIN CATTLE	TYLIMITED	TYLIMITED
REGIS	BREDCOMPANY		MBER 00989511	n	and and Wales
		CHARITY	BALANCE SHEET
		31DECEMBER2021
	A	YLIMITED BYGUARANTEE
						2021	2020
			Unrestricted	Restricted		Total	Total
			fund		fund	funds	funds
		Notes	6			8	6
FIXiEDASSETS
Intangible assets		13A	33,735			33,735	41,735
Tangible assets		14A	977,698			977,698	979,272
Investments		15A	2 058316			~2058316	1 859,052
			3,069,749			3,069,749	2,880,059
CURRENT ASSETS
Stocks		16A					5,754
Debtors Cash at bank and in hand		17A	386,467 181521			386,467 ~181521	381,056 113604
			567,988			567,988	500,414
CREDITORS
Amounts falling due within one year		18A	(406,508)			(406,50$)	(351,715)
NET CURRENT ASSETS			161,480			~161480	~148699
TOTAL ASSETSLESSCURRENT
LIABILITIES			3,231,229			3,231~9	3,028,758
NET ASSETS			~3231229		-	~3231229	~3028758
FUNDS
Unrestricted funds						3231229	~3028758
TOTAL FUNDS						~3231229	~3,028 758

				2021	2020
Net income	for the	reporting	period (as per the Statement ofFinancial
Activities)				196,406	129,158
Adjustments	for:
Depreciation	charges			40,387	36,147
Gain on investments				(174,014)	(20,093)
Loss on disposal of		fixed assets			108
Interest received				(10)	(464)
Dividends received				(35,334)	(30,953)
Decrease in	stocks			5,754	3,534
Decrease(increase)		in debtors		19,178	(35,931)
Increase in creditors				~55 455	~29 458
Net cash provided		hy operations		~107 822	~110 964
ANALYSIS	OFCHANGES IN NET FUNDS
			At 1.1.21	Cash flow	At31.12.21
				f,	g
Net cash
Cash at bank	and in	hand	~552 690	30078	~522 612
			~552 690	30078	~522 612
Total			~552 690	30078	~522 612

		2021	2020
		6	6
Subscriptions		~136655	137,400
		~136655	~137 400
OTHER TRADING ACTIVITIES
		2021	2020
Shop/promotional	goods	1,412	5,041
Miscellaneous		1,099	4,106
Semen sales		59,447	127,563
Remitted to suppliers		(45,793)	(99,098)
Entry fees		5,923	6,472
Packing and delivery		~19 607	~27617
		~41 695	~71 701
INVESTMENT	INCOME
		2021	2020
		6
Rents received		27,230	21,986
Interest receivable on cash deposits		10	463
Income fmm UK	listed investments	35 334	30,954
		~62 574	~53 403

							2021	2020
				Activity
	Birth registration	fees		Charitable	activities		374,963	372,778
	FOTfees			Charitable	activities		42,495	53,000
	Import/export fees			Charitable	activities		4,500	5350
	DNA testing			Charitable	activities		183,250	194,893
	Shows and events			Charitable	activities		3,885	3,915
	Livestock commissions			Charitable	activities		90,776	44,145
	Semen roytdty (net)			Charitable	activities		13,445	12,233
	Society publications		and
	advertising			Charitable	activities		15,751	12,325
	Limousin performance
	recording			Charitable	activities		~37 118	~38 360
							~766 183	~736899
6.	RAISING FUNDS
	Other trading activities
							2021	2020
							6	6
	Shop/ promotional		goods				5,754	3,473
	Pacicing and deiivery						10,852	16,391
	Health certificates						(100)	100
	Support costs						~16 555	~13976
							~33 061	~33 940
	Investment management			costs
							2021	2020
							6
	Support costs						~10 311	~8264
	Aggregate amounts						~43 372	~42 204
7.	CHARITABLE	ACTIVITIES COSTS
							Support
						Direct	costs (see
						Costs	note 8)	Totals
	Charitable activities					~505 084	~436 259	~941 343

					Governance
			Finance	Other	costs	Totals
					6	8
Other trading activities			2,832	10,797	2,926	16,555
Investment	management	costs	8,791	1,520		10,311
Charitable	activities		~2301	~367338	~66 620	~436 259
			~13 924	~379655	~69 546	~463 125

		2021	2020
		6
Depreciation - owned assets		32,387	28,147
Deficit on	disposal offixed assets		108
Taurus database amortisation		8,000	8,000
Auditor's	remuneration	~7725	~7500

	2021	2020
Wages and salaries	208,639	141,421
Social security costs Pension costs	15,887 ~7152	9,306 3,540
	281 678	164.267

The average monthly number ofemployees during th	e year was as follows:
	2021	2020
Breed secretary	I	1
Herd book personnel	4	3
Technical manager	1	I

	Taiirus	Traits	TSB
	database f.	project I	project	Totals
COST
At 1 January 2021	69,735	84,980	116,863	271,578
Disposals		~84980)	~116863	~201 843)
At 31December 2021	~69735			~69735
AMORTISATION
At 1 January 2021	28,000	84,980	116,863	229,843
Charge for year	8,000			8,000
Eliminated on disposal		~84980)	~116863	~201 843
At 31December 2021	~36000			~36000
NET BOOKVALUE
At 31December 2021	~33 735			~33 735
At 31December 2020	~41 735			~41 735

				Maternal
			Taurtls	Trusts	TSB
			database	project	project	Totals
			6	6	6	6
	COST
	At 1 January 2021		69,735	84,980	116,$63	271,578
	Disposals			~84,980)	~116863	~201 843
	At 31December 2021		~69735			~69735
	AMORTISATION
	At IJanuary 2021		28,000	84,980	116,$63	229,843
	Charge for year		$,000			8,000
	Eliminated on disposal			~84 980	~116863	~201 843)
	At 31December 2021		~36 000			~36 000
	NET BOOK VALUE
	At 31December 2021		~33 735			~33 735
	At 31December 2020		~41 735			41 735
I4.	TANGIBLE FIXEDASSETS(GROUP)
			Fixtures
		Freehold	and	Motor	Computer
		property	fittings	vehicles	equipment	Totals
				g
	COST
	At 1 January 2021	1,073,689	19,704	21,675	67,831	1,182,899
	Additions Disposals			27,655	13,058 ~16,206	40,713 ~16206)
	At 31December 2021	~1073689	~19704	~49330	~64 683	~1207406
	DEPRECIATION
	At 1January 2021	117,667	19,652	5,419	60,889	203,627
	Charge for year Eliminated on disposal	18,368	52	9,431	4,536 ~16206)	32,3$7 ~16206)
	At 31December 2021	~136035	~19704	~14850	~49 219	~219808
	NKT BOOKVALUE At 31December 2021	~937 654	-	~34 480	~15464	~987598
	At 31December 2020	~956022	52	~16256	~6942	~979 272

TANGIBLE FIXEDASS	ETS(CHARITY)
		Fixtures
	Freehold	arid	Motor	Computer
	property	fittings	vehicles	equipment	Totals
			6	6
COST
At I January 2021 Additions	1,073,689	19,704	21,675 ~27 655	48,415 ~3157	1,163,4$3 ~30$12
At 31December 2021	~10736$9	~19704	~49330	~51572	~1194295
DEPRECIATION
At 1 January 2021 Charge for year	117,667 ~18 368	19,652 52	5,419 ~9431	41,473 4 535	184,211 ~32 386
At 31December 2021	~136035	~19704	~14850	~46 008	~216597
NET BOOKVALUE At 31December 2021	~937 654	-	~34 480	~5564	~977698
At 31December 2020	~956 022	52	~16256	~6942	~979272

FIXEDA	SSETINVE	ST	MENTS (GROUP)
				2021	2020
					6
Shares				1,903,276	1,596,731
Other				~129540	~236 821
				~2032816	~1833 552
Additional	information	as	follows:
					Listed
					investments
					6
MARKET	VALUE
At 1 January 2021					1,596,731
Additions					338,310
Disposals Revaluations					(205,779) ~174014
At 31December 2021					~1903276
NET BOOKVALUE
At 31December 2021					~1903276
At 31December 2020					~1596731
There were	no investment		assets outside the UK.

15.	FIXEDASSET	INVE	STMENTS - continued	STMENTS - continued
	Cost or valuation	at31	December 2021 is represented		by:
							Listed
							investments
	Valuation in 2019						(233,816)
	Valuation in 2020						20,093
	Valuation in 2021						174,014
	Cost						~1942,985
							~1903,276
	Investments (neither listed			nor unlisted) were as follows:
						2021	2020
						6
	Cash deposits Cups and trophies					125,540 ~4000	232,821 4,000
						~129540	~236 821
15A.	FIXEDASSETINVESTMENTS (CHARITY)
						2021	2020
						8	6
	Shares					1,903,276	1,596,731
	Other					~155040	~262 321
						2,058,316	1,859,052
	Additional information		as	follows:			Listed
							investments
	MARKET VALUE
	At 1January 2021						1,596,731
	Additions						338,310
	Disposals Revaluations						(205,779) ~174014
	At 31December	2021					~1903276
	NET BOOKVALUE
	At 31December	2021					~1,903276
	At 31December	2020					~1596731
	There were no investment			assets outside the UK.

		2021	2020
Investment	in subsidiary	25,500	25,500
Cash deposits		125,540	232,821
Cups and	trophies	~4000	~4000
		~155040	~262321

	COMPANY	COMPANY	COMPANY	COMPANY	TEDBY UARANTEE
15A,	FIXEDASSETINVESTMENTS -continued
	Taurus Agridirect			Limited
	Registered office:			United Kingdom
	Nature ofbusiness:			Dormant
	Class ofshare:				holding
	Ordinary				100
						2021	2020
						8	8
	Aggregate capital			and reserves
16.	STOCKS(GROUP)
						2021	2020
						6
	Stocks					2,760	2,760
	Finished goods						~5754
						~2760	~8514
16A.	STOCKS(CHARITY)
						2021	2020I
	Stocks						~5754
							~5754
17.	DEBTORS:	AMOUNTS PALLING DUE WITHIN ONE YEAR (GROUP)
						2021	2020
						6
	Trade debtors					209,294	217,757
	Other debtors					158	158
	Prepayments	and accrued income				~27 538	~38 253
						~236 990	~256 168
17A.	DEBTORS:	AMOUNTS PALLING DUE WITHIN ONE YEAR (CHARITY)
						2021	2020
	Trade debtors					205,675	214,586
	Amounts owed		by	gmup undertakings		153,385	128,385
	Other debtors					158	158
	Prepayments	and accrued income				~27 249	~37 927
						~386 467	~381 056
18.	CREDITORS:		AMOUNTS FALLING DUE		WITHIN ONE YEAR (GROUP)
						2021	2020
						6	6
	Trade creditors					91,423	64,961
	Social security		and	other taxes		34,626	45,542
	Other creditors					2,440
	Accruals and	deferred income				~303 885	266417
						~432 374	~376 920

	2021	2020
	6	6
Trade creditors	71,819	48,098
Amounts owed to group undertakings	137	137
Social security and other taxes	34,318	43,280
Other creditors	2,440
Accruals and deferred income	~297794	~260 200
	406 508	351715

	2021	2020
	6	6
Within one year	7,894	9,220
Between one and five years	29,024	~23 729
	~36 918	~32 949

		2021	2020
		6	6
	Within one year	7,894	9,220
	Between one and five years	~29 024	~23 729
		~36 918	~32 949
20.	MOVEMENT IN FUNDS

MOVEMEN	T IN FUNDS
			Net
			movement	At
		At 1.1.21	in funds	31.12.21
		6		6
Unrestricted	funds
General fund		3,062,196	196,406	3,258,602
TOTALFUNDS		~3062 196	~196406	~3258 602

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
				8
Unrestricted	funds
General fund			1,007,107	(984,715)	174,014	196,406
TOTAL FUNDS			~1007107	~984 I 5		96.4D6
Comparatives	for movement	in f'unde
					Net
					movement	At
				At 1.1.20	in funds	31.12.20
					f.	f.
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
			8
Unrestricted	funds
General fund		999,403	(890,338)	20,093	129,158
TOTAL FUNDS		~999403	~890338	~20 093	~129 158

			Net
			movement	At
		At 1.1.20	in funds	31.12.21
				K
Unrestricted	funds
General fund		2,933,038	325,564	3,258,602
TOTAL FUNDS		~2933038	~325 564	~3258602

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		g
Unrestricted	funds
General fund		2,006,510	(1,875,053)	194,107	325,564
TOTALFVNDS		~2006 510	~1875053)	~194107	~325 564