##
||||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|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|
##
##
##