THE 8R171SH SIMMENTAL CAThLE SoCIy LIMITED IC¢mpany limited by 8uarantee and not having a share capital) Registered Charity Number: 264090 Company Number: 0985570 REPORT OF THE TRUSTEES AND VNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Buf8ls & Bullock Chartered Accountants 23-25 Waterloo Pla Leamin8ton Spa Warwickshire CV32 SLA
THE BRITISH SIMMENTAL CAThLE soaETY UMITED FOR THE YEAR ENDED 31 MARCH 2024 Contents PaEe Report of the Council Independent Examinerfs Report statement of Financlal Artlvities Balance Sheet Note5 to the Financial Staternents 9-16
Page I THE BRITISH SIMMENTAL CAThLE SOCIETY LIMITED REPORT OF THE COUNCIL FOR THE PERIOD ENDED 31 MARCH 1014 The Council present thr report and financial statements for the perlod ended 31 Mèrch 2024. Reference and admlnistratlm Information Charlty name,. The British Simrnental C)ttle Society Umited. Chèrity re8istrètion nber.. 264090 Cornpany registration nurnber.. (YJ8557D Registered office ènd operational address.. The National A8ri£ultural Centre Sttsneleigh Park Kenilworth Warwickshire CV8 2LG Delegated Mano8ement'. Council Members.. AN Rthson (President frorn 1711012022 & WSFF Representative) C Martindèle (Wice President & Chairman of Fin3rKel IRtrAppointed 231101231 M Durno (Chairman of Shows & Sales Northl J Barlow IChaSrman of Shows & SalE5 Southl K Thomas IRe5igned 30ni20241 R Boyd IResigned 3017n0241 A Clarke IRe-Appointed 231101231 R Evans (appointed 22 October 20231 A IvorylRe-Appointed 231101231 D Jone5 IRe-Appointed 231101231 R Pettit lappolnted 22 October 20231 R Rod8er5 (appointed 22 October 20231 R Storer Smith IRe-Appointed 231101231 W 5 5tronach IResigned 30n/20241 B Wynter All council members are also trustees and directors ofihe charity. Accountants". Bur8is & Bullotk Chartered Accountants 23-25 Waterloo Pla Leamington Spa Wapwid(shlre CV32 SLA Bankers.. Barclays Bank plc. Kent IKitors'. Wright Hassèll, Leamin8ton Spa nancial AdSOrs.. RathbonÈ Investtnent M4na8ernent. Birmingham
Page 2 THE BRrrisH SIMMENTAL CATTLE SOCIETY LIMITED REPORT OF THE COUNCIL FOR THE YEAR ENDED 31 MARCH 2024 Struc¢ure Go¥emance and Manazement Governln Document The Society is a charitable company limited by guarantee and does not have a Share capital. The cietY was incorForated on 27th July 1970 and registered as a thèrity Dn 13th June 1972 INo.2640901. The cornpany wa5 e5tèbli5hed under a Memorandum of Associatlon whlch established the obletts and powers of the charitable company ènd 1$ governed under its Article5 of Association. cruitment and A ointment of Councll The directors ofthe compony are a150 charity tru5tee5for the purpose of charity law, and under the compan$ Article5 are known as members of the Council. The members of th* Council shall be appointed in aecordantewith the provisionscontained in the Memorandum & Articles of Association and until otherwse determined by a general meetlng, the number of the members of the Council shall not be le55 than seven, nor more than twenty. The Council, at its first meeting after each Annual General Meetin8, shall elect a President and a Vlce Presldent from amongst its rnembers by secret ballotto serve until the nexiAnnual General Meetin8. Newtrustees recelve an induction pack outllnin6 thelr roles and responslbillties as Council membersand an outlineof the future pl4n5 and objertive5 of the Society. Minutes of previous meeting5 are also made available to new Council members. Risk rnana ement The Council have cenducted a review of the major risks to which the charity Is exposed and have established systems to rnit18ate these risks. Everyeffort Is mode to ensure that all risk5 are kept to a minimum. Council consitler that insurance coverand reserves are adequate to ensure the contsnued operation of the Soclety In the event of the Occurren of any unexpected Incldent. Oblettlves and artl¥itles The prin¢iple attlty and chadtable objects of the society a to promote tts the general publi¢, the members, and to commercial farmer5, the benefits of the Simmentil breed and the c3pabllitSes In temis of breeding quallty Stock to At the requirements of today s market. both maternèlly and terminally. There continue5 to be an increase in activities orgènised at local level and an Sncrease in the knowledge of the breed conveyed to the public. The Societycontinues to embrace the use of digital media to prornotethe rnerits of the breed and share in its 5ucce55e The British Slmmental Cattle Societycontlnues to retain and attract new members enablin6 St to fulll its objertives. A core ctivity 15 the rnalntenan of the herd book, and wovision of herd book Services, for the registration of pedi8ree cattle thln the stated rules.
Page 3 THE BRMSH SIMMENTAL CATTLE SOQETY LIMITED REPORTOF ThE COUNCIL FOR THE YEAR ENDED 31 MARCH 2024 Athlevements performante The Councll held seven meEtings during the period 3, Aprll 2023 to 31" Marth 2024 wlth è comblnatlon of faceto fate, and elettronic means. Two sub-committee meetings of Council, with regard5 to Technical, and Sales & Promotions subjects, were also held. In keeping with recent, posltive, trends, theyear agaln saw a sustained and increased demand for pedigree and mmercKIl Simmental Eenetics. Fcf the third consecutive year, new record marks were ègain set at pedigree wle5 in both Scotland antl En8land. Individual hwhlights saw a new breed rewrd lor o bull oF46,0008n5, and a new breed record for a female of 32.0008ns. The sales at Stirling In May2023, ottober 2023. and February 2024, all saw new record averaEe5 èttained lorthese fIUres. The all-sales Simmental breed record was again broken In October 2023 with a sale average of £7,594 for 53 bulls. Stirling in February 2024 was a82in the hlghest 8rossin8 salè with 95 bu115 averaging a new mark for that sale of £7,498, up £238 on the year. The establishing Next Generation 111 Sale of Females & Weaned Calve5 at Cadi51e in December continued the trend with a top price of 26,0008ns being a new centre record for the breed, and with heifer averages of £5,584, up by £363 on the year, and a further record mark. In the year the Society continued to plate empha5 on o commercial approach to the marketing and promotion of the breed and hi8hli8hting it5 efficiency and profitability through e¥Adenced data. Emphasis has been placed on data frorn AHDB'S National Beef EvaluatSon INBEI confirmin8 that on avera8e, calves by a Sirnmental sire finish 36 day5 earlier than those by continentsl sire5 and 46 days earlier than calves by native sires. ènd that fa5tfini5hin8 equates to 5.4kg le55 C02 equlvalents. The data also hlghli8hts the advantages of &rnmental females wth continental sired calves out of Simmental dam5 finishing 29 days earller than the avera8e of all suckler damsl Further analysis of AHDB'5 NBF data showed thatthe avera¥e Daily Carc&5e Gain IDCGI of the pro8eny of a Simmental bull eut of All Dams is 4.6% better than the DCG of the progeny of a Continental sire out of All Dams. ènd 17.5% better thaTh the DCG of the progeny ol a Native Sire eut of All Datn5. Thi5 commercial data has been used by the Soclety to show that use of the Slmrnental breed 8ives èdvantsges in a8e at slaughter,- reduced finishin8 Costs. and with less enwronmental impact. The Society has also continued to highlight the breed's perfcrmance at markets areund the UK ènd where it Is toppin8 sales of talve5,' Store,. prime.. 4r%J breeding cattle. At the time of writini this report. pEdi¥ree re8i5trèti¢n5 and birth notifKations have alreath Surpassed the total for the preced1 year (registration year doses on 31 July). Thls is the third consecutiveyearthat registrJtions have increased. Pedigree sales in the year, held under the auspices of the Stsciety. have seen gr0$5 5ale5 of pedigree Sirnmental bulls and fernale5 exceed £2.1 Million and up by over £90k on the year. Based mainly on cattle passports issued by the British Cattle Movement Serce18cms>, across the UK, the &mmental irsdustry can be reasonably estimated to be worth in excess of £100 Million annually. In the period of the report the Soclety had a number of breed promotlonal stands at summer 5how5, industry events. and winter fair5. Sirnrnental cattle continued to be prorninent at many of the 'malor' Royal and County shows and indudiryg interbreed titles at.. RUA5 Balmoral,. Royal Comwall. Royal Highland., Great York5hire,' Royal Norfolk (English Nationall.. Durnfrie5 (Scottish Nationall.. Royal Lancashire, English Winter Fèir,. Welsh Pedigree Calf Show. and Cornwall Pedigree Ca Show. General breed promotion hos seen ¢oncentroted social media campaigns. liaison with the agricultural media and industry at lar8e.- and productlon and distrlbutlon of printed bre promotional literature. Publlc benefit The Couficil tonsidÈr that they have ¢omplied with their duty to have due regard to the guidance on publk benefft. as published by the Charity Commission, in exercising their powers and dutles. Flnarthl revlew The net Incomlng resour¢esfortheyearaMoued to£73.042which ha5 been dedL¢Cted from the reserves broughtfornard leawn8 fund balances of £853.014 at the yearend. The Councll considerthe resultsto be satisfactory.
Page 4 THE BRITISH SIMMENTAL CATTLE SOCIETY LIMITED REPORTOF THE COUNCIL FOR THEYEAR ENDED 31 MARCH 2024 Ibwesknment Pdl£y The Trustees of the Society have considered the most appropriate policy for investing funds and have instrurted our investment manager to impkmenta Discretionary Management Kqreement. Thi5 wves the managers a better opportunlty to make timely inve5trnent decisions on our beha, whilst still working to the tIEht gUelIneS already laid down for the portfolio. We have agreed tar8ets for in¢orr atjd capitol growth which are rnonitored on a regular ba51S. Poli¢ie5 on Re5eThr5 The Cfxjncil has exarnined thÈ Satievs Tequirement5 for resewves in the light of the main risk5 to the organisation. The society aims to hold financial reserves that cover one yearfs budget expenditure. A% at 31 March 2024, the Society helLI financial reserves of £853.014. In temis of retained reserve5. the Council wlll consider general reserves and forward ey¥endlture In meetlng Charftable objective5. MeTrer5 01 the Coun¢ll Members of the Council who are Directors for the purposes of Company Lawand are Trustees for the purposes of Charity Law. at the time of approval of the financial statenEnts, are Set out on pa8e l. AN Rob50n. Dlrertor /Trustee
Pa8e 5 THE BRITISH SIMMENTAL CALE SOCIETY LIMITED INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEES FOR THE YEAR ENDED ai MARCH 2024 I report to the charity trustees on my examination of the accounts of the company for the period ended 31 March 2024 which are Set out on pages 6 to 18. Responslbllltles and basls of report As the charity trustees of the company land atso its directors for the purposes ol Company lawl you are responsible for the preparation of the accounts in accordance with the requlrements of ihe Companies Att 20061'the 2006 ACYI. Havin8 satisfled myself that the account5 of the company are not required to be audited under Part 16 of the 2LVJ6 Act and are eligible for independent examination, I report in respect of my examination of your compan¢s accounts as rried out under section 145 of the Charitie5 Act 20111.the 2011 Att'l. In carrying out my examinatSon I have followed the Direttions gwen by the Charity Comrnission under section 14515llbl of the 2011 Act. Independent examlnerf5 ststement Since the companls gross income exceeded £250.000 I confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants, which 15 one of the listed bodies. I have tompleted my examination. I confirrn that no matter5 have come to my attention in connection with the exarnination giving me cause to bdieve that in any material respect.. accounting records were not kept in respect of the company as required by Section 386 of the 2006 Att,. or the aceounts do not accord with those record5,' or the accounts do not comply with the accountin8 requirements of section 396 of the 2006 Act other than anv requirement that the accounts give a'true and fair view, whith is not a matter considered as part of an independent exarnination.. or the accounts have not been prepared in accordance with the methods and prinelples of the Staternent of Recommended Prartice for accountSn8 and reportln8 by charities lapplicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concern5 and have cgme acr05s no other matters in connection with the examlnatlon to which attention should be drawn in this report in order to enable a proper understanding of the accounts tg be reached. JA 21st August 2024 Wende Hubbard FCCA Burgis & Bullock Chartered Accountants 23-25 Waterloo Place Leamington Spa Warwickshire, CV32 SLA
Page 6 THE 8RmsH SIMMENTAL CArrLE 50CIEfY LIMffED STATEMENT OF FINANCIALACnVITIES INCLUDING INCOME AND EXPENDmiRE Accou FOR THE YEAR ENDED JI MARCH 2024 2024 2024 urestrfcied Total Irrnrne ndeMentsfrOrn'. Member5 subscrfpt1S 49.173 B.3È9 49.173 8,389 35.972 6.854 a5,479 1493 14,897 4,758 1155 18,630 130 35,979 1,493 14.897 4,798 2.155 18,630 21.794 250 17.332 6,643 3,162 13,125 Ad¥¥tiseTnents JNiCètions Shows arOeMStraons omotlonal 8th)ds IoveSbnentin((the InttrE5t rtcefftd R¥IsiratioTrsar DNAMts 282,4 10.827 18.682 32.421 173,975 8.833 14,( 24 10027 14682 32,422 JI lee$ Olberkncorne &Jndryirfome ,971 15.971 Totallncomlr resowcos 495,9¢6 495,946 327,050 •Wryfvnd5 8reed piomotionand pJbllcalon5 AdvrttsinA Show5 and dEmun5trntions Allo(ation5 to arEa club5 Pr¢ThotioI goad5 SubscrlPtiMS and ConfelenleQS Chaiitabk Tethnical deveIopTnert%ajwebsrte AdmiTh5tratKJnol iey5tiati0n5 Jll lewpinents Othersts StèfFsalètjes. natson IfffjuranceèThd sub¢crttrxrt¢rffes Tovd ènd expenles Computer costs Office DJnnlnccostS A¢countingind¢iher yofesslonJltharge5 Depre¢5atS In&pendent exarnlnalon Counultravel andexpense5 28,115 20.781 63.286 4.036 28,115 20.7BI 63.286 4.036 312 lJ56 39,276 14.689 43.279 1.735 4.135 947 1.256 29,Y89 76.912 11,048 29989 76912 11,04 21.301 58.yi 7.7Q5 145.7 145,740 117,934 355 ¥511 Y,122 1267 4L571 LS.520 LO.816 2,267 41,571 16,520 10.816 5.100 5,364 7,922 6,254 Totsl 466.313 466.313 373.147 29.6J3 29.633 46,097 Gtslll¢KsqS}onIrAElfts -L518 -1.518 14329 NtInrl{•XndWleI tryth1r Unre411sed 28.115 44.927 -29.768 44.927 t mOventS infvnd5 TiansltrbthÈÈnfund T*t•lkn&kn¥htlor¥J7rd 73.041 73042 .3SS88 779.972 779.972 81S560 853.014 85)14 779.972
Page 7 THE BR ThISH SIMMENTAL CATTIE SOaETY LIMTrED STATEMENTOF FINANCIALKvIES FOR The YEAR ENDED 31 MARCH 2024 ICONTINVEDI Note5 zoz4 2024 Z023 Unrestricted Tot41 Tolal Incoming resOue$ 495,946 495,946 327.050 Re$¢ur<e$ expehded 466,313 466,313 373.147 Net Incomlng resources 29,633 29,633 46,097 Gainsl Ilossesl on investment assets Reali5ed Unrealised -1,518 44,927 -1,518 44,927 16.329 -5.820 Net movements in funds 73.042 73,042 -35,588 Transfer between funds Total funds brou8ht lorword 779.972 779,972 815,560 Total funds £arrled forward 853,014 853,014 779,972 The notes and Schedule to the Statement of Finantial Attivities on pages 9-16 form an integral pèrt ol these finantial statements.
Page 8 THE BRITISH SIMMENTAL CAThLE SOCIETY UMrrED BALANCE SHEET ASAT 31 MARCH ZOZ4 Note5 2024 2023 xed assets Tangible assets Inve5trnents L3,911 707.675 23,228 650,667 721.586 673.895 Cuffent assets Debtors Cash at bankand in hand 119,769 ICNI,177 126,780 79,604 223,946 206,384 Creditor5'. amounts fallinz due within one period 181.7591 184,6941 amountslalling due greaterthan one year io 110.7591 115,6131 Net current assets 131.428 106.077 Net assets 853.OL4 779,972 Funds Unre$trlrted Unresrricted funds Designated funds 12 12 758,189 94,825 689,535 90,437 853,014 719,972 For the period endin8 31 March 2024 the company was entltled to exemptlon from audlt under settion 477 of ihe Compènies Act 2006 relating tD srnall companies. Directors, responsibilities.. The member5 have not required the company to obtain an aud of its atcounts for the period in question In accordance with section 476., The dlrertors acknowledge their responsibilitie5 for complyi¥ with the requirernents of the Act with rpect to accountin8 records and the preparation ¢f accounts. These financial staternents have been prepared in accordance with the provIOn$ appllcable to companles subjett to the small £ornpanies' re8ime. 21 Aug 2024 The Financial Statements on pages 6-16 were approved by the Council on................... . slgned on its behalf by.. AN Rob$on Directorltrustee c0mpanyre81#ratfi number.. 0985S70
Page 9 THE BR 1$H SIMMENTAL CAThLE SOCIETY LIMITED NOTES TO THE FINANCIAL5TATEMEMrs FOR THE YEAR ÉNDED 31 MARCH 2024 Accountlng pollcbes CompanYinmatIoN The Society Is a charitable company lirnited by guarantee and does not have • share capitol. The Society was incorporated in England and Wales on 27th July 1970 and registered in England and Wales as è charity on 13th June 1972 INo.2640901. The compan¥ wasestablished under a Memorandum of Association %thich established the objects and powers of the charitsble company and F5 governed under its Articles of A55OQOtion. The registered offe is The National Agricultural Centre. Kenilworth. Wamckshlre. CV8 2LG. Auountingconvention The financlal statements have been prepared In accordance with the charity'5 Mernorandurn and Articles ol A550cI?tlon, the CompaniesAct 2(Y)6 and'Accounting Reporting by Charities.. Stètement of Recommended Practiie èpplicable to charitie5 preparin8 their accounts in accordance with the Financial Reporting Standard pplicab5e in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods CLmen£1ng from I JJnuèry 20191. The charity 15 È Public Benefit Entity as defined by FRS 102. The charity has applied Update Bulletin l a5 published on 2 February 2016 ènd doe5 r&)t include i cash flDw statementon ihe groundsthatbl is not a large charty. The financial 5tstements Jre PTepared in sterlin& whirh 15 the funttional currency of the Company. Monetary amounts In these financial statement5 are rounded to the nearest £. The financlèl statements have been prepared on a going concern bas15 under the historical cost convention, modified to include certain financial instruments at fairvolue. The principal arcounting polities adopted are below. GoinB conr¢rn At the time of approving the financial statements, the Trustees have a reasonable expectation that The Brit15h SirnmentHI Catde Soiiety timited has adequate resources to contlnue In operatienal exlstence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basi5 01 accounting in PTeparin8 the financial 5taternents. Incornlng res¢)yrce5 All incorning resources are included in the Statement ef Financial Activities when the charityis legallyentitkd to the income and the amount can be quantified with reasonable accuracv. Annual subscriptions are due one calendar year to 31 Juty. The April ernent of the 5ub5CriPtion is carried forward 35 deferred income. Resources expended Expenditure Is accounted foron an accruals basis. Tin8lbl•fix¢d assets Tangible fixed asset5 are stated at cost less deprecation or impairment. Depreciation Is calculated so a510 write off the cost of tangiblefi'xed assets usrng the methods dexrfbed below.. Rate Method Leasehold premises Owice fixture5 and equiprnent Computer equipment 2.4% 20% 33.3% Str4i8ht line
Page 10 THE BRMSH SIMMENTAL CAThLE SOCIETY LIMThEQ) NOTESTOTHE FINANCIALSTATEMEIITS FOR THEYEAR ENDED 31 MARCH Z014 l AontIng policies Icontlnuedl Investments Inve5tment5 are stated in the balance sheet at rnhl-market value in accordance with SORP. Movements in market value are shown in the Statement Of Financial Artivitie5. Operatln8 leases Rentals payable under operating leases, includifi8 any le45e incentive5 received. are chargeil in at the operating surplus on a strai8ht Ilne basls over the lease term. Creditors Creditors and prowsion5 are recogni5ed where the charity has a present oblkgation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors ènd piovislonsare normally recognised at theirsettlement amount after allomring for any di5count5 due. Debtsrs DebtDrs are recogni5ed at the 5ettlernent amount due after any di%ounts offered. Prepoyments are valued at the arnount prepaid after takin£ account of any discounts due. Lile Membersh¥) Fund At each year end an amount equal to on?twenty-fifth of the total Life Mernbership 5ubscTlPtions 15 credited to subscrlptlons recelved In the Income and Expenditure Accotjnt. New Le Membershlp substdptlons are credlted to the fund. 5% of the balance of the fund at the 5tsrt of the year is transferred from the Profit and L055 Account to the credit of the Life Membership Fund to ensure that adequate fvnds are retained to rneet the future costs of Servicing Life Member5. Employee bEnefit$ The cost of any unused holiday entitlement Is reco8nlsed in the perfod in which the employee's SeCeS are received. Retirement btTrefit5 The charity operates a defined benefit contributlons pension scheme. Ccntributions are char8ed ¢n the finantial statements as they become payable in accordance with the rules of the scheme. Fund accountln8 Unrestrirted fund5 can be used in accordance with the charitableobjectives atthe discretion ol the trustees. Restri¢ted funds aTe to be used for 5pe¢rfic purpose5 as laid down by the donor. Expenditure that meets these crlterla Is char8ed to the fvnd. Con$olid•titsn The company and its subsidiary cemprSse a small group. The company has therefore tsken adYènts8e ol the exemption provided by section 402 of Cornpanie5 Act 2006 not to prepare 8roup accounts.
Page 11 THE BRmsH SImMEAL CAThLE SOCIETY LIMrrED NOTESTOTHE FINANCIAL5TATf ME5 FOR THEYEAR ENDED 31 MARCH 2024 Attounti#8 politi¢$ Icontinuedl Finandal instruments The charity has elected to apply the provison5 of Section IJ 'Basic Financlal Instrurnents, and section 12'0ther Financial Instruments Issues, of FRS102 to all of its finèncial instruments. Financial instruments are recogni5ed in the charivs balance sheet when the charity becomes party to the contractual provisions of the instrument. Flnanclal assets and liabllifjes I offseL with the net arnounts presented in the financial 5taternents when there Is a legally enforce4ble ri8httO Set off the recogni5ed amountsand there Is an Sntentlon to settle on a net basss or to reali5e the asset and settlethe liability simultaneou51y. Basic financial assets Include fixed asset investments, debtors, c35h and bank balances. Debtors. cash and ba< balances are measured at transattion price includin8 transaction tosts. Fixed asset investment5 are initiaSly measured at tran5artion price excluding transaction costs, and are subsequently measured at fair value at each reportlng date. Chan8es in lair value are recognised in net gainsl Ilosse51 for the year. Transaction costs are expensed as Incurred. Basic financial Ilabillties Include treditors and actruals which are rneo$ured ot tr3n5aCtion price lush orexpected settlement amount). Change in AOunting Pewhid In the prior year theaccountswere wepared for a 9 month period to bringlhe accountingyear in line with thetax year. Thls year represents a 12 month perS0d. Therefore, the comparative figures presented in the ftnandèl statements a not entirèty eDmpar8ble. Keyludgemenis and eMinte$ The estimates and underlying assumption5 ère reviewed on an ongoin¥ bèsi5. Revi5ion5 to accounting e5tirnate5 are recognised in the period In which the estimate Is revised where the revision affects onlythèt period, Dr In the periotl of the revision arid future period5 where the revision affects both current and future periods. The Life Mernbership Fund is held to ensurethat adequate funds are retained to meet the future costs of servicing Llfe members. The trijstees have estimated that one-twenty-fifth of the total Ufe Membership 5ub5triptions recelved should be credlted to the Income and expendsture account to meet annual servicin8 costs. The trustees estimate that 5% of the balance of the Life Mernber5hip Fund at the start of the year should be transferred frorn the profit and loss accour*t In order to meet future serwlcing costs.
Page 12 THE BRMSH SIMMENTAL CAThLE socfETY LIMThED NOTE5TO THE FINANaAL STATEME5 FOR THE YEAR ENDED 31 MARCH 2024 Staff costs 2024 2023 Salaries lincludini temkX)rory staffl Social secursty costs Pension costs 127,524 9.746 5.324 101,430 9.400 4,366 142,594 115.196 Staff costs Icontinuedl The average weekly number of persons employed by the association during the year was.. 2024 Number 2023 Number Administration No employee recelved emoluments of mothan £60.OfJ) Independent Èxarniners, rernuner•tion 2024 2023 Fee5 phyable to the company s exominer and its associates.. For independent examination 5enfices Independent Èxarnination of the company's financlal stattsnents 5,100 5.400 Fo¥ other serv15 Accountsncy5ervices 6.550 7,lJOI
Page 13 THE BRITISH SIMMENTAL CAThLE SOCIEfY LIMrrED NOTES TO THE FINANCIAI STATEMEI FOR THE YEAR ENDED 31 MARCH 2024 Tantyble fixed •sset5 Offic¢ fixtures& equlpment Cemputer equlpment Motor Vehldes Total At l April 2023 Additions Disposals 75.285 1,498 104.736 29,490 209,511 1,498 At 31 March 2024 76,783 104,736 29,490 211,009 Depreciation At l April 2023 Char8È forthe year On disposals 74,412 832 99.584 2,610 12,287 7.373 186,283 10.815 At 31 March 2024 75,244 102.194 19,660 197,098 Net book value At 31 April 2024 1.539 2,542 9,830 13,911 At 30 lune 2013 873 5,L52 17,203 23,228 Investments 2024 2023 sted in$trnents hdd l April 2023 Purchases at cost Sales proceeds Reallsed Ilosse51 sales Unrealised gains Illossesl on revaluation to market Value Equallzètlon and atcumulation 650,666 83.101 168,9441 11,5181 44,927 15581 642.778 704.085 1706.7061 16.329 15.8201 Llsted Investments held on 31 Wrch 2024 Shares in Breedline Services Llmlted 707,674 650,666 707,675 650,667 Subsldlary companv The Society own5 100% of the i55ued ordinary share capltal of Breedhne Services Limited Ilncorporated in the UK. cornpany nurnber 051588681. BTeedline Services Limited is currently a company in name only. with no income. empenditure or assets. The Investment is therefore worth £1 only. and group account5 have not been prepared a5 they would not be materially different from the Soclety's account5.
Pa8e 14 THE BRITISH SIMMENTAt CATTLE SOCIETY LIMITED NOTESTO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 nanual instrumefit5 2024 2023 carn1 amouni oéflnanual •ets Instruments rnettsured tstloir vtslue through ftetixJ¢ome/expenditurÈ Listed Investments 707,675 650,667 Fixed asset investments are subie¢t to nomial market risks ¥SSLxiated with the holding of listed investments. The fixed asset investments are managed by prefessional investment managers. Debtors 2024 2023 Debtors PrepaymEnlS Other debtors 89.590 21,117 9,062 101,888 18,092 6.800 119,769 126.780 Crethtors- amounts falling due oneyear 2024 2023 Trade Creditors Income receivetl in advèn Value added tax Accrua15 PAYE Other CreditOf5 25,821 16,658 15,119 15.073 3,790 23.419 15.858 16.497 19.420 4,166 817 4,517 4,854 81,759 84.694 In¢luded within creditors are lease liabilitiestalIIng £4,854 which aresetured over the assets to which thev relate. io Creditor5: amount5 follin8 due 8reater than on• year 2024 2023 Lease Liability 10,759 15,613 10,759 15,613 Intluded within ¢ditOrS are lease liabilities totalllni £10.759 which are secured overthe assets to which they relate.
PagÈ 15 THE BftmsH SIMMENTAL CATTLE SOCIETY LIMrrED NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 li Deferred incom• 2024 Z023 Total deferred incorrFe #t i April 2023 Amounts received in year Amount5 credited to 5tstement of financial activitie5 15,858 16,658 115,8581 10,399 15,858 110,3991 Total deferred incomeat 31 March 2024 16,658 15,858 Deferred income relatesto membership subscriptTons paid in advance and Juty 2024 show income. Analysls of lunds Transfers beiwn nds At 01.04.zJ Intomln8 resources Rewurtos eApended In¥e#wt At Jl.OJ.24 Unrestrirted lunils: General fund 689,535 495.946 1466.3131 43.409 14.3881 758.189 Deslgnated fL4nds'. Life Member5 fund 90,437 4.388 94.825 779,972 495,946 1466,6131 43,409 853,014 13 OpteatinB leise commitrnents Atthe reporting end date, the company had outstandin8commitmentsforfuture minimurn lease payments under non-cancellèble operatin8 leases, which fall due as follows.. 2024 2023 Land and bulldlngs Within one yeèr Between two and five years Over five years 11,930 47,720 121,288 11,930 47,720 133,218 180,938 192,868 Olnce equlpment Within one year 8etweÈn two and fiveyears 2,099 3.323 1,099 5,422 1.099
Page 16 TrE BRITISH SIMMENTAL CATTLE SOCIETY UmED NOTES TOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDEO JI MARCH 2024 14 Penslon- Defined tontrition Contrlbutlons of £70612023.. £6.8621 were outstantling at the period end. 15 Tr•n$adlons wlth tru5teesl councfjl members and other related partles During the period. the charity paid for council members travel expense5 for the purposes of undertaking their duties totalling £5,364 12023.. £6,254]. No trustee recelved remuneration for servlces during the period. Key management salary costs amounted to £64,62912023.. £45.0421 in the perlod. 16 Controllini Party The charity is underthe Control of tts council member&