ThE BRMSH SIMMEiifAL CATfLE SOCIETY UMifED (Company Ilmlted by Dranteo •xl not hav1 a sharè fapltal) Rstewed Cth•rlty Number: 2641190 Cornpany Nwnber. 11985570 REPORT OF THE TrusfEES AND UNAUDITED FINANaALSTATEME14TS FOR THE YEAR ENDED 311•14RCH 2025 2>25 Waterloo Pla Lewnl1yt Spa
Rewi oftheCowKII Staternt OlFIn•r Notes lo th• •fid* Stalernents
Page I BmsH SIMMENfALC4TILE SOQETY LthllItD AEPOATOFTHE couiiaL FOII ThE PEAIOD ENDED 31 MAftOI 1015 The Coundl pres•nt their rEPNI aNJ fina[1 StsteM for the PWKrfI 31 rth Z025. Ch•rlty n•mè.' Charlty rstr•llon number: address.. Kenitrh Cvd 2LG MlI•m¢nI. C Marbnd•belApp)thted Presith(201101241 ))1101241 A I¥ (Wnted ClTman ofRrw¢ 201101241 A Clath Pmoknied lfj¢e Ch•lrof Flmnce. 201101241 J B•rtow14•woknttd (h•knn olS1th¥5 & Sales sth. 04) PAJbson lw)knted WSFF Rewesentairf 2011¢¥241 R E¥anslApFthoJ toCowKI 22IIOn31 Dj( IRtrwdnted 2ViW231 Prflft lwrdfttedth Ctyffidl 221101231 11 Roty$14Ontrd io cow1 W101231 Rstorersmkn IRtrwMt*d to cthJr 22noi231 Wynttr IRe44>PMted to C(wMcil 17lion21 Acctyjntints..
ftEPORTOF TNE coiiaL FORIHE YEAA ENDED 31 MARCH 21)25 The Society is a charftablè tc¥npanylmf(ed by8u3ntee •)d doe5 nDt hwe a share cathl. The ety was IrKtsrporated on 27th 1970 and re815tered as • thanty on 13th June 1972 INo.264TrXII. The company was established under a Mern0randfft of As5OdatI( whKh established the obpcts and k$ ofthe tharftablet¢Mnpany and is8ovarnod ur¥ler ThtdlreCt0 ollht companyare alsotharity ¢nth forthe pUryXOfdMflty1. •nd underthtCL¥npanWsNrtkl•s are knwn as member5 of the CtyJn¢il. The members of the Coundl Shall be Ethed In aordance wlth the wo¥tsfjons tontalned In the Mtrnorandum & Artkles of Asso¢lation and uniii otherwlsè derrnlned ts a 8enefil fflee the number of the memtrs of the Countll shall noi be1ts5than se¥ern normrye twity. Th• Countll, 4t Its flrst meeiiry ifter eath Annual Gtr1 Meet1 sh•1 elert a Pre51tht wwj i Vke Pre4deM from New trnstees recelve an Inductton p¥kouYlnirythelr r¢4es•nd 1•sbIlItIeS Cjfidlfflernber5 •nd wlth anoutllne of th• frjture pl•ns •ThJ objecti¥es of the s. Mnytes ol ve¥k$ are a150 made •v•llable to new Councll The Councll ha¥• conthjcied a rw•of the rnY r15s to the thwtty b expo h•¥e 5YStthThs io mltllate these rlss. Every effort b made tts that$s•re keotoa minlrnurn. Th•Coundl conslderth•t Irdurm co¥v•nd feserves Ire Jdequ•h to eftW the C)d0perth OltrS(l In the w•ntolthèrK•oIlIry XPert Inddent. The prfnd a¢tMty and thwltable objects of Slxldy arn to to tr 8•rn1 th• m•mb•r4 and ¢ommerclal farmers. the benefits of tre Shmmert•l breed and the¢apii In terw of breedlw qualty stock to fli the feoulrements ol todarfs mawkeL b)th mitern•lty and termkn•Ay. con4pffd to the publk. The &>knconlln¥es tO•J7rarethe useof dtt•l meda to merlts of the breed and The 8rftlsh Shnmntal catt$ty(ffi1WwjeSIfj ret•n attratt meM1811 ¢0 itsobJeth A cort tNn tr stated rule5.
Page 3 EPORTOF THE COiWKX FOR ThE YEAR EN[ 31 MARCH 2025 Th?Coyncil Ik1 fwr meetlws thiththe perlod I'April 2024 to 31 Marth 2025 knlth • u)mblnaib)n offttsface. and dectronfjc means. Two sub<fymfflbttee mettlws ofCounciL ¥thh rqwd5 to Tethnkal, Sabes & Prcrfrlotions W6th the welcom• tr•nd of recentyears contillUlW Iht year a8iln saw a 9JStslrd demand for pedw4ree and o)mmefclal SiMffl 8enetlc4 and an IrKrea5e in breed prol4e. Ne breed recrKd rnwks were set at pedree 5de5 In Scottsnd. Er¥l¥nd. •nd Northern Iret¥d. Thesale baf was and truty red * STlth¢ln FeW 2025 WI 94 I115. the most sold tsf arty Iweed over thes•le fortnt. suried to a remartr3tAe of £9832. up by É2334 ory1 fure At the dose, the •¥erage was a nvAT •ll-breeds rec(¥d for any beef treed at a UK •Jclkn. The sole 4150 saw a new breed rettffd top wlce pald of56.1)XWs lor• &rnmental lyull. Furthef sawa tffeed centye re¢d avtr¥e set at Aberdeen.. a tKeed record top at DThr,. a ¢efttre record average tr the P•l•rf Stldiw Sale. alorq ¥Ath an •llteds top prke of 22,(KK4ns. ContInui to ettabl the 14e¥t Generation N Sale of F•halÈs & Weaned CaW èt Carflsle In Oecemb•ruw • top wke o115.IXty4 of£5024. As a resulL pedlgree saS kn the year. hdd the Juspe5 oftheSxlEty. Sew y05$ Mles of pedee Sknmental l)ulls and females ln ¢xeed the El Catiit passFKrts151 Brltlsh Cattle Movement Serylce 18CMS1, across UK rernahied statand c•n bè rtasonal estym•ted io orth kn excess of£lCQ MIII annu•. A cons15tent thre4d of m•rkttiw Ind has been hIghl1 thè Sknmental bd$ effldenty and prtsfit•biNty thro eddenced dats. EnaSb5 has conttnued io be Oaced on dats frr#n AHOW$ I4+tk11 etef Evaluatbon INBEI conflrmln8 ttt on ¥¥er¥e. ckn by • s1mme0 s fftrti5h 36 d•fi e¥lier th•n those ty contlnental reS and 46 d•ys e•rtlerthan calves sires.. th•ll•st fin15hk¥equatesio 5.lessC02 eqthlents. The d• hlht$ the •nta6e5 of s1mmenl fem¥es •ith ¢ontkntal 5tred cafvrts oui of darns fin15hln8 29 d•ys eather than the aver4e olall 5ucklerthm5. Further ofAHDWs NBÉ that thtabry Oalty carSe G•ln IDCGI ol the pro1 of a Slmment4 buy tyJt ol Al 15 4.6Y& bdter th•n thè tLG of the kweny of a CLMllntntal &'rè wt ot Dams. 17.5% belter11 thè rG ofthe N•tk¥Slre out of1 D•. This ¢tylerda1data hasbeen by the to shtrw ih•t usè ofthe Sfjrnment4 ljreed #¥e5 •d¥ant4ts kn aRe •t 4aiWter: rtductd fin15hlry costs.. and •hth less envkonn)t•l Imp•EL The Socfjety has ¢Mlknued to Wt the Ws lerlI perfDrmarKe at marktis the UK andThrll15 top¥salesolr4ry' stt,' atue. Indu51ry e4ents, and wfjnter fak5. Slmmenul Cmlknued 10 bè Frnthnt •t many of the'ma1 R¢)yal and county shows aThl IndUd1 tntertnd th .. RUAS &lmoral.. ft¢ry4 Cwnw•M.. RO HI8Nand: Great yshI.. Ilwt41 Norfolk lEtsh Naikn)all; Turrfff ISco1115h Iloyal Lant4StMrt.' EIsh F.. Comwam Peth8ree Calfshow. A breed hyhll8ht was4nththebluerand Cprtral IntetseedattheRtrW Ml8hlaNI. andthefirsttknethebrt•J wJmoikn•l erature.
Pw4 IEPORTOFTME COUIKIL FOAM YEAR EI4DED31 IAARCII 1025 Investrnent rnana8erto implernt a Di5ryet1onaryMana8ef 4re•ThenL Th"$8Nes tt mana8Js a berter opportunity to make timely investment de0$1 on our behalf. st1 to the twht gu•Jdirs 4lreth lawl down for the )rtfolio. Wt ¥reed tsr8ets and grtrwththKh Ire At0ed on è wL4rba5Ls. The Counal has examined the SO$ rtqkn fDr reseryé5 in the Wii ofthe malTh ¢15k5 to th2 01$•th. The Sodety alms to hdd financial re5eThe5 thai ¢u¥ef one ye•rfs bud8er eNwdliu. As ai 31" Marth 2024, Ihe &x4ety held finafid re5er¥es OtW4.79). In itmls of ret•Sned reser¥ the 11 c(Atskler ynEr¥ reswve5 •ftd ttyw•d charl111e Membtrs ofthe j11 •re Dlreaors fty pwposesolcthwny L•W and T$te5 for the PUQLW of(rIty Lv, •t tht Ilme tsfapw¢y4 oftrefrnrl Statffinen ** set L Chrts Mèrtlrthle .._- -. Dlrector ITrustee
Pa8e 5 WIDEPENW(r EXAMINERY AEPORTTOTHE TRUSTEES FOR THE YEAR ENOEO$I MAROI 1025 I rep)rt to theth•rtty frustees ¢m mYexamSnatb of theacoxmts of thtcorwny fortlR pwlod ended 31 Marth 2025 which Ise1 out on pa8e5 6 to 14. As Ihe tharlty trustees of ihecomparry land also i1sdwectfMS fvr trpJrptrats of uThpwry lawl ffti • for Ihe preparallon ofthe accounts th att0rdan1th the requtremts of the Cornpanie5 Act li I'the 2l ACYI. saitsfied mysellthat acojuftts of ihe not requwed to be •Jdlt•d undw Part 16 olthe I6 Art and ar ell8lble for Independent e¥amlnatlon. I rÈp)rt in respect of ryry examinatlon olr£0mpans accounts as tarrled under settKn 145 ofthe Charits kt 2011 Ilhe 2011 ACVI. In crol My eyaMlna0n I havt foknd the Dlfection$8l¥en by ts (lIty¢(m&S0o undw S10 145(SMbl oltr 2011 SKe thecompanV$ 8ross kKorneex(eeded £2S0,((¥J I that l am qualhed to urtht•ke theexamln•thJn because l ¥e completed my eXarn1natkn I conlkni th•t m•tts to rny •ttenllrm in conrUM wlth the exJmln•tlon me c4use to bellert that materfal respe¢t: accountln8 record5 not kept th respert of tht requked ty secdon 386olthe 2rA)6 kL' 3. the attounts dg not c(ffipty account requIreffftts ofse¢ikn 396 oftht 21Th Attolher than •nv requlrerneTht th•t traccounts and falr not • mattercond¢d 15 ol an dependeni e¥amln411M.' . the attounts have been wep¥ed kn •¢tordattewith thernettrth pthoes ofthe Statement of RecommenEled Prac*e and repNttrq lIeS lapplk•t4e to th•rftle5 Fryadng the 10211. 4th September 2025 ur8ts & Bu11k Ch3rtwed Ac(ount•nts 23.75 W4tedoo Pl•t• LeaMI Spa
Pagè 6 4YJy dj71 4*A7J JLknI) 3S379 L493 Jbknlkns 17 L7 L7C• LZ54 6• 91 171413 6>) 91 271413 416 14252 27 14.252 1¢6 ,971 457.7fj1 24 ni ni 711 7371 LJ77 912 ¢911 145.7 1431 4LI 4L571 5364 W43 4•,? 014
Page 7 ThE bRmsH gMMEilfrATllt SOCTh LthIIIED STATEMENf OF FINNJKJALAcfMnES FOR IHÉ YEAA UIDÉD31 MAIiCII >)15 IcoimiiuED} Total T1 4S7.764 457.764 495.916 467.665 467.66$ 464313 -91 .9Jl 29.633 G•lns111o50•5) ITh••$ Reaused -JA21 -14.502 -1821 .14.502 -L518 44.927 Unreallsed Nei mo¥ements lft fund5 -28.224 -2&224 7a042 •53.0 853.0 779.972 82471AI 824.79)
Page 8 ASAT31 MAACH 2D25 Tangible assets In¥estynents 3ASO 711065 13.911 707.675 721,915 721. Debtors Cash at bank and In hand 11S.297 64.978 119.769 104.177 IW75 223.946 crnd1" amounts f•lllwd (77,4Q)I 181,7591 amtyjftts fall1 du•8ratv th•n one year 110,7591 131,418 824.79) 853.014 Funth unlded fvnds Desl8nated lunds 729.532 9&258 758.189 94.825 824,79) 853.014 For the wltJ en¢n8 31 Mwth X25 coffwrty t••s th)thled to from autht undv seLtkn 477 of the Companles Act relatln8 to smal ¢mp•rlts. The mmbÈrs have not feqyed tr ¢(fflp¥ry obttth an au¢fft of Its aCTnts the p¥d In queskn sman companits. rqlme. styvl 6ts behalf*.
Pa8è9 F(ThE YÉAA EN[31 MARCH 1025 The Sodety 15 a chalft0b tomp¥ry 1mld RUaWtee Ihx5 Trjt a share cawl. The Soclety was Incorpornted In England and Wales on 27th Juty 1970 aThl reollered kn Eryland and Wale5 a5 a tharlty OTh 13th Junt 1972 INo.264CWI. ThettJmparyw•sestablLshed Mem¢xandumofAssodatknwhKh est11$hed the obJects and wwer5 of the th•rit•ble (ompany •nd ts ¥emed under ts ArtidE5 of Assodaty. The rtOsi¥ed oifice Is The ma0al •Kuliufal Centre. KeN"Iworth. wa1($hI CV8 2L& The finanoal statements ts1 w•pued wlth MnofanthJm Athles of Athat1, Ihe C(ffipanles Act and-th)unti Ind RewAOrqby Ch•rlts'. Stslernent offtecommeNJed Practice applicable to tharllles preriry thdr accotsnts in ac(cwdancè ¥hth tr Final17 Reportyryq Stsnd•rd aOicable in the UK and Republk of Ireland IFRS 102r l•$ •Md accounti pk5 cornmendrl from I Jaw¥ 20191. fv tharltyls • Publk 8erfft Entity as drnd ty FRS 101 Th• Clty has fjed Upthie BuNetkn l a5 published 2 Fe¥¥ 2016 does rot Indude ¥ ¢45h lkn¥ statemtht on theyAdI th•t charlty. The statwnents art wepared Ni stedlw whkh 15 the fvryttorHI curren¢y of the C(#Trp•ny. Mor amounts In Ilfn£la1 stateffnts are rtyJAdtd to the ne¥e51 £. modlfi•d to Includ• t•rtlh flfirti•l instrnments 4t fakn ¥ak4e The &paI acctVa NJIWes dopted •re s Sknmental Cattle Soclety ilmiied adequate wwrce5 to rorrtlnue in operknal eJ5ten the fDreseeable fvture. theTNlleos£onMue to 4dW tr c(wKem IM515 oflrwuntrtln thè Annual sulwlp¢lrffi$ t)n• lo 31 J. Thè the stsbsulptkn 15 urrled 14% Stia¥ht lkn Straw Ilne
Pa8e 10 THE BRMSH SIMMENTALCATILE 500m UMITED l A¢¢oUn polkl•s I(•nIhl InveStmentsaSlEd In thtbalancesheetèt Irnket¥1na¢(ty&fftvths0ftP. Mtyrtmentsin m• valuè arè shfmn In the 5taternwit of Ananclal lth•ll& Rentals payatye under le•w IrKlythrq any te•s h)cwit45 rec•¥1. are thar8ed In arrMn8 ¥1 the Operati surplus • strat Ine ba$ the leierni. Credltor5 and provts1 recrenised wherè the th•dty ha5 a pre5eni ot4iqatlon resultyng from a past e¥Ènt thai wlll probably result in thetransler of funds to a thwd and ihe amount due io settle the oblatth can bt m•asuied orestymated reliaw. crediiorsandwovtsSare [nallYet0¢1sed atthdrs4ttknint amount •fter al1ow1rqfwl%ctyJfitsU¢. O•bt¢K5 Debtor5 are rtct¢nlsed •t the sefflefflt afflrtht thAè •fttt •rty dlscounts ¢)ffttd. Prwents •re v4ued at the amount prepald after a¢count ofarrydlscountsdu. At exh year end afint equ to on&tsity41fth ol the total Uft Membersh substhpthJns Is credlted to bscrlptlon5 recel¥td kn Ihe kncome arKf ExpeThJiture kctyjni. Nt Lfrfe Member5hlp sutrArlptyons •re Crlted to th• fund. 5% of the of the lund at ihe start ol the ytsr Is iiansferred from the Profil and Loss Account to the credt of the Llfe Member5Np Fultoesuth•i •dequ•¢e I ret•h*d to rfieet the fvwre£05ts of SeThkI knfe Membtrs.
Page 11 TNE BRMSH SIMMENfALCATILE SOUETY LthIITED IIOTESTOTHE FThANCIALSTATEMEIITS FORIHEYWI ENOE031 MARai 1025 The charlty has dected to appty the of Sectlon Il'Ba5k FInKoa1 In5trument5' arbj SectKJn 12'0ther Fln•ndal Ir&tAthients lssutt'ofFR5102 toa4 of its ftrwd•l InstrUnts. Flnandal IrtrUMents are recc8ntsed In thè chwws baanr• sheet tho dwrlty becomes Party to the ¢ontractual pro¥lslon5 of the hstrumtnt. Flnanclal assèts and Uablllllts art offs. lth thè amtymts wesented In the finala1 ststements when there ts a legalty enforceable ii8ht lo set off the recogn&ed affnts andthere Is an Intènt)n to 5etde on a net ba5 or reallse the asset ar sett the Mab116ty sfjmulwws1y. flnandal a55ets Indude flxed asset hNesvrt& deb¢Ns. cash bank b•larKe5. Debtws. cash and bank balances a measured at trans•ctkn ¢t Induthw tr$tIon costs. Fjxed asset In¥estfflents I Inltjal Measu at trkns•ctlon prte traAS•ckn costy and are sub5equefitty rneasured at fak ¥alue at each dale. Charyes kn f TAhJe •re rt (loe$l for the year. Tr5•¢110n costs •re ey4)en5ed a5 IrTed. 8a51c flnandal Ilabllttbes 1ndudEqethl5and a(rj15 areme15Wtd ai transtlon wke (cash or e¥Ped Ilemeni •mjnI). ¥e rwnlstd In the pwknd in whkh thèes16mate b fe41sed whwt the affeus onty thai pedod, wln the pthod of the reAslon and futurt wheftthe aftetts both ojirent and future perd$. The Llle Mernbw5hlp FuThl hId t0sle thatdry knd51re retalntd to meèt thefijturecosts 01Sdl Ufe membws. The trustees estkTr•ted thal M&tsMty-fifth of the total Lbfe meMbrShIP 5ubscrlptlons re¢el¥ed should be Lyediied to the kK(#me and e¥penthtwe •ccount to rneet annual sthclrv4 costs. The twstee5 estimate that SX of the ofthe Membonhip Fur at the start of tht year JId be trnnjferred from the profft and1055 acco14nder torneet c09ts. S•l¥les Itndth st•ffj Soaal s*¢urity tost5 135.016 10,2 127,S24 9.746 5324 150.818 141594
Pa8e 12 Biull5M 51MMEiifALCATnE S(IETY UMITED 2025 the a5sociatlon dUrN the)w wa5.. Irner Admfinistratk¥n a125 Fees p4yJble to I1(•m$ ex•rkn4NI #s ssodts: 5.ILK) Attountanty ser¥lces 7.271 550
Paee 13 niÉ BRIT 51MMENfALCATfLE 500 UMnÉo NOTES TOThE FIPIANCIALSTAIEMEIITS FOR THEYEIR ENDED 31 MARCII Z025 Tatsl At l Apdl 2024 Addltbons DIspgsa15 7Q783 104.736 29.4Y) 211,Cl)9 At 31 Marth 2025 7Q783 104.736 29.49) 211.19 D•prnd•tlo At l Aprll 2024 Chèrye fof Ihe ye•r On dbpoM15 75.244 591 2.194 2.ITJ7 19.660 7.373 197.1)98 10.061 At 31 March 2025 75,835 4.291 27,033 207.159 At 31 March 2025 44S 2.457 3.850 At 31 Marth 2024 LS39 1542 13.911 Usted In¥eMments hdd i 2024 Purchases at cost S•les pr¢xeds Re•ltsed Ilossesl sales Unreali5ed ga6n51110ss•sl on rÈvththlo rnthetvth Ewallzatlon accumulatkjn n)7fi74 245,322 121&7391 13A221 11{$021 1131 83,101 1683441 IL5181 44.927 155BI ud InlMents held M 31 M•rch 2025 Shares in 8reedfine Sewvice5 iwnlled 718. 707.674 718. 707.675 the UK Company num1051588G8l. èreodkne Serkn Lwrwted 15 arnuya cownyin nOnly. with
Pa8e 14 BAMSH SIMMÉNTAL CATfLE SOCIEfY UMITED IIOTE5 TOThE FIIWICIALsfATEMElIts fORM YEAR END 31 MAROI 20Z5 2025 In5tmments me0sured0tfvVO1Ue thmwl netlnCoftt ?18.065 707.675 Fed asset investsnents are 5ubie(I to Mrma market assrthted with the hddlngoflLsted Invest. The fixed asset Investments we manwd protssl(wl IA¥e51rnWt maTha8ers. 63.160 2L033 31,104 Prepaymen Othu debtors 2L117 9.C62 115,297 119,769 Trade Credllor5 17.425 l6,J41 IL653 15.881 3.6SI L6) 10.759 25.821 16.658 IS.119 15.073 Valu• added tax A¢cruals PAYE Other Credktors Lease uabl1¥ 4JS4 8L7S9 Included ¥¥lthin credllors lease W115 £IO.759tfrath areserjxed tre •ssets tOT*hkh th rdlte. Lease Llal)thty 15.613 15.613
Paee 15 wn5H 51MPAElnAL tArnÉ SOCIETY UMITED •IOIESTO THE FIIWKIAL 5fATEMEKrs li rotal defwred IrKome at I WII 2024 rnounts received In year Amounts uedited to statement ofItrKi Xitr•lifjos 16.658 16.341 116.6581 IS.858 16.658 115.8581 Total dtfttred 5rKomè at JI Marth 2015 16.341 16.658 12 An •llwxl JLO.25 Gener•1 fvnd 751189 4S7.764 1467.6651 {18.32Jl ng,532 Llft Mernbevs fvmd YA25 433 853.014 457.764 467.665 18.32J 824.790 Within omyear ii. 47.720 109.358 IL930 47.720 12L288 ty).938 Within oneye¥ L224 3323 5,422
P48e 16 THE BRMSH SlMMEPITALCArnE 9XIETY UMifED NOTESTO ThE WIIAllaALsfATEMEpifs FOR THE YEAR EIIOED31 MARCH Conirlbutks of £85211024: £7061 wwe ¢MJrstsndhw•t thè plod wd. DurSn¢the yèar. tltharityp4d for Cnd1 mrlJ1 e¥pensesfr ttwrp05e5 1)furKlertaklr4th•lr dutle5 totallln8£4.86612024'. f5,3641. No tru5teere(etr¥ed remuneration forseThkesdurlrytr*Feilod Wrnanwment salary Costs amouTrttd to £67.81512024: £64.6291 in the perd. Durln8 the year ihe tharfty pald É4096.801>)24.. E3,2931 to Storer Smth Events. • ¢omyny kn wNth M 5ttxer Smlth a dkector. At )1)d £nll12024.. £nlll o•ed to ihe company.. The (hkn15 the crffivolollls u)U11 fflember&