Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **The International Equine Reproduction Trust Charity Number: 278254** Moore Scarrott Limited Calyx House South Road Taunton TA1 3DU Dear Sirs ## **The International Equine Reproduction Trust** The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your independent examination of the charity’s financial statements for the year ended 30 November 2024. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief. ## **General** 1. We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK) and that you do not express an audit opinion. 2. We confirm that the charity was entitled to exemption under section 144 of the Charities Act 2011 the requirement to have its financial statements for the financial year ended 31 May 2022 audited. 3. We have fulfilled our responsibilities as Trustees as set out in the terms of your engagement letter, under the Charities Act 2011 for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you. 4. All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. 5. All the accounting records have been made available to you for the purpose of your independent examination. We have provided you with unrestricted access to all appropriate persons within the charity, and with all other records and related information requested, including minutes of all management and trustee meetings and correspondence with The Charity Commission. 6. The financial statements are free of material misstatements, including omissions. 7. The effects of uncorrected misstatements (as set out in the appendix to this letter) are immaterial both individually and in total. Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **The International Equine Reproduction Trust Charity Number: 278254** ## **Assets and liabilities** 8. The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed in the notes to the financial statements. 9. All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate. 10. We have no plans or intentions that may materially alter the carrying value and, where relevant, the fair value measurements or classification of assets and liabilities reflected in the financial statements. ## **Accounting estimates** 11. The methods, data and significant assumptions used by us in making accounting estimates, and their related disclosures, are appropriate to achieve recognition, measurement and disclosure that is reasonable in the context of the applicable financial reporting framework. ## **Legal claims** 12. We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements. ## **Laws and regulations** 13. We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements. ## **Related parties** 14. Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accounting standards requirements. ## **Subsequent events** 15. All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed. ## **Going concern** 16. We believe that the charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements. Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **The International Equine Reproduction Trust Charity Number: 278254** ## **Grants and donations** 17. All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income. Yours faithfully .............................................................................................................................. **Dr A De Mestre** Trustee Signed on behalf of the board of Trustees Date: 29-09-25 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C **Charity Registration No. 278254** ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST** UNAUDITED TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **CONTENTS** ||**Page**| |---|---| |Legal and administrative information|**2**| |Trustees’ report|**3 – 5**| |Independent examiners’ report|**6**| |Statement of financial activities|**7**| |Net assets|**8**| |Statement of Cash Flows|**9**| |Notes to the accounts|**10 – 16**| Page 1 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Prof T Stout (Chairman)| |---|---| ||Mr D Dugdale| ||Dr A De Mestre| ||Mr R Greenwood| ||Mr J Crabtree| |**Secretary**|Dr J Kydd| |**Treasurer**|Dr A De Mestre| |**Charity number**|278254| |**Registered office**|7 Widmerpool Lane| ||Willoughby on the Wolds| ||Loughborough| ||Leicestershire| ||LE12 6TE| |**Accountants & Independent Examiners**|Moore Scarrott Limited| ||Chartered Accountants| ||Calyx House| ||South Road| ||Taunton| ||TA1 3DU| |**Bankers**|Barclays Plc| Page 2 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **TRUSTEES’ REPORT FOR THE YEAR ENDED 30 NOVEMBER 2024** The Trustees present their annual report and financial statements of the charity for the year ended 30th November 2024. The Trustees confirm that the annual report and financial statements of the Charity comply with the current statutory requirements of the Charity’s governing document and the provisions of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **Structure, governance and management** The Trust was established by virtue of its Trust deed in 1979. Its objectives are to advance public education concerning animal reproduction of all kinds, in particular the reproduction of ungulates. ## **Risk management** The Trustees have examined the major risks which the Trust faces and confirm that procedures have been established to mitigate those risks. ## **Objectives and activities of the charity** It achieves these objectives by providing funds to the IERSC (International Equine Reproduction Symposia Committee) is support of: 1. the organisation of symposia and workshops; 2. the publication of the proceedings of these meetings; 3. the administrative costs of maintaining an (International) Secretariat and; 4. travel grants for the deserving participants at the meetings. ## **Review of activities and Financial Review** The activities of the Trust in this 12-month period were less, as is expected in the period after the International Symposium on Equine Reproduction (ISERXIII) in Brazil, 2023. The two main activities were the approval of a start-up loan to the Local Organising Committee of ISERXIV (Ireland 2027) and consideration of a proposal to support the formation of an International Society for Equine Reproduction. ## **IERT Trustees and AGM** The Trustees remain the same and consist of five esteemed academics and clinicians with expertise in equine reproduction: a Chair, Deputy Chair and Treasurer are appointed from within this group of Trustees. All are UK citizens. Similarly, the three non-voting co-opted Advisors remain the same, having been recruited from the wider equine reproduction community and all are non-UK based. The Annual General Meeting 2023-24 was held online on 6th January 2025, a little later than planned due to the commitments of the Trustees. The AGM was attended by all Trustees and Non-voting Advisors. ## **ISER Global Education webinar series https://iser.vetpd.com/** The ISER Global Education webinar initiative was launched formally at the ISER Symposium in 2023 and, since then, increasing numbers of subscribers have joined. Thanks to many international experts in equine reproduction who have given their time freely, more than 200 webinars are now available for purchase by veterinarians internationally, with prices based on a Cost of Living Index appropriate to the geographical area. Profits generated by this series have been donated to the Trust to support future symposia and educational initiatives. We would like to acknowledge the generous financial support of the Gerald Leigh Charitable Trust who donated funds over a two-year period to facilitate free webinar subscriptions for 160 undergraduate veterinary students who are registered in the UK. ## **Formation of the International Society for Equine Reproduction** The formation of the International Society for Equine Reproduction was approved in principle by the ISER Symposium’s International Committee, and subsequently the IERT Trustees at their on-line meeting (8th August Page 3 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** 2024). Memorandums of Understanding will be developed between all parties. Briefly, the intention is that IERT’s support of the ISER Symposium will continue unchanged. From the Trust’s perspective, its role in supporting the ISER Symposium and its’ aims and financial independence are unaltered. ## **ISERXIV Ireland 2nd – 6th August 2027** With the acceptance of a bid from Ireland by the International Committee of the International Symposium for Equine Reproduction in 2023, the organisation of this Symposium is proceeding. A Memorandum of Understanding has been established between the ISER Symposium and the Ireland Local Organising Committee. As part of this, a loan of 20,000 Euros has been transferred to the LOC to enable reservation of the Symposium’s scientific and social venues. ## **IERT Financial Activities** In brief, the Trust receives ad hoc donations, many of which are received around the time of the quaternary ISER Symposium. The Trustees ensure there are sufficient reserves to generate an income that enables them to support trainees to attend the ISER Symposium (approximately £25,000 every 4 years), as well as the annual running costs of the Trust such as web site updates and hosting, accounting services and secretariat costs. This financial plan is important for the long-term sustainability of the Trust and its ongoing support of the ISER Symposium; this is one of the primary charitable goals of the Trust. The main costs relate to providing travel/registration awards that facilitate early career researchers attendance at the ISER Symposium, for example via contributions towards their registration fees. The following loans were approved by the IERT Trustees. Any loans, together with a donation from any profits will be returned to IERT to support its charitable activities. - Loan to ISERXIV Ireland, 2027: 20,000 Euros to the local organisers of ISERXIV Ireland 2027 for startup costs. This loan was agreed in accordance with the MoU. - Loan to the West Coast Equine Reproduction Symposium: US$20,000 to the organisers of this fundraising symposium, for start-up costs. ## **Conclusion** It has been a quieter but nevertheless successful year for the IERT. The growth of the ISER Global Education webinars in terms of numbers of titles and subscribers continued to generate a modest income. Loans to the West Coast fund raising event and ISERXIV 2027 will secure the financial stability of the IERT and a successful Symposium in 2027, respectively. Therefore, the Trust continues to satisfy its aims by managing funds to support the success of the ISER Symposium and continuing education for scientists and veterinarians in the field of equine reproduction. ## **Financial Review** The total income received by the Trust was £128,588 (2023: £64,835) during the year. The Trust also raised further income from selling merchandise. The Trust paid grants totalling £Nil (2023: £104,878) during the year and have supported the activities of The Trust. ## **Reserves and Investment Policy** The majority of the Trust's investments are now held in Managed Funds. Investments are held to provide income to fulfil the charitable objectives of the Trust. The Trust maintains reserves funds, in the form of investments and cash funds, to generate future income to fulfil its charitable objectives and to cover ongoing expenditure. ## **Statement of Trustees’ Responsibilities** The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Page 4 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the board of Trustees. **Dr A De Mestre** Trustee Date: 29-09-25 Page 5 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE INTERNATIONAL EQUINE REPRODUCTION TRUST** I report to the Trustees on my examination of the accounts of the Trust for the year ended 30 November 2024, which are set out on pages 7 to 16. ## **Respective responsibilities of Trustees and examiner** The charity's Trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). The charity's Trustees consider that an audit is not required for this year under section 144(2) of the Act and that an independent examination is required. I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants for England and Wales (ICAEW). It is my responsibility to: - examine the accounts under section 145 of the Act; - to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and - to state whether particular matters have come to my attention. This report, including my statement, has been prepared for, and only for, the International Equine Reproduction Trust Members as a body. My work has been undertaken so that I might state to the Members those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the International Equine Reproduction Trust and the Members as a body for my examination work, for this report, or for the statements I have made. ## **Basis of independent examiner’s report** My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below. ## **Independent examiner’s statement** In connection with my examination, no matter has come to my attention: - Which gives me reasonable cause to believe that, in any material respect, the requirements: - to keep accounting records in accordance with section 130 of the Act; and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or - To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. **Duncan Nicholas FCA** Chartered Accountant Dated: 29-09-25 Moore Scarrott Limited Calyx House South Road Taunton TA1 3DU Page 6 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **STATEMENT OF FINANCIAL ACTIVITIES** |**Notes**
**Incoming resources**
Voluntary income
2a
Income on invested funds
2b
Other income
2c
**Total incoming resources**
**Resources expended**
Charitable activities
3
Management and administration
costs
3
**Total resources expended**
**Net movement in funds before**
**gains/(losses) on investments**
Net gains/(losses) on investment
assets
4
Net currency translation gains/
(losses)
4
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**|**Unrestricted**
**Funds**
**2024**
**£**
112,415
2,516
12,479
**127,410**
-
(6,057)
**(6,057)**
**121,353**
-
(4,176)
**117,177**
**230,344**
**347,521**|**Restricted**
**Funds**
**2024**
**£**
1,178
-
-
**1,178**
-
-
-
**1,178**
-
-
**1,178**
**39,298**
**40,476**|**Total**
**Funds**
**2024**
**£**
**113,593**
**2,516**
**12,479**
**128,588**
**-**
**(6,057)**
**(6,057)**
**122,531**
-
**(4,176)**
**118,355**
**269,642**
**387,997**|**Total**
**Funds**
**2023**
**£**
42,938
2,516
19,381| |---|---|---|---|---| |||||64,835| |||||(104,878)
(12,847)| |||||(117,725)| |||||(52,890)
-
(22,020)| |||||(74,910)
344,552| |||||269,642| All incoming resources and resources expended derive from continuing activities. **The notes on pages 10 to 14 form an integral part of these financial statements.** Page 7 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **NET ASSETS AS AT 30 NOVEMBER 2024** |
**Notes**
**Fixed assets**
Investments
7
**Current assets**
Other debtors
**33,040**
Cash at bank and in hand
**233,444**
**266,484**
**Net current assets**
**Total assets**
**Income funds**
Unrestricted funds
Restricted John Hughes Memorial Lecture Fund
Restricted Prof Twink Allen Travel Fellowship Fund|**2024**

**£**
**121,513**
**121,513**
-
148,609
148,609
**266,484**
**387,997**
**347,521**
**29,116**
**11,360**
**387,997**|**2023**
**£**
121,033| |---|---|---| |||121,033
148,609| |||269,642| |||230,344
27,939
11,359
269,642| Approved by the board of Trustees and signed on its behalf. **Dr A De Mestre** Trustee Dated: 29-09-25 **The notes on pages 10 to 14 form an integral part of these financial statements.** Page 8 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **STATEMENT OF CASH FLOWS** ## **FOR THE YEAR ENDED 30 NOVEMBER 2024** |
**Notes**
Net cash generated/(absorbed) in operating activities
12
Cash flows from financing activities
**Change in cash and cash equivalents in the year**
Cash and cash equivalents brought forward
**Cash and cash equivalents carried forward**|**2024**
**2023**
**£**
**£**
**84,835**
(75,630)
**-**
-
**84,835**
(75,630)
**148,609**
225,139
**233,444**
148,609| |---|---| **The notes on pages 10 to 14 form an integral part of these financial statements.** Page 9 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **NOTES TO THE ACCOUNTS** ## **1 Accounting Policies** ## **1.1 Basis of preparation** The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (effective 1 January 2019) and the Charities Act 2011. The Trust constitutes a public benefit entity as defined by FRS 102. The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. With respect to the next reporting period, the most significant areas of uncertainty that affect the carrying value of assets held by the Trust are the level of investment return and the performance of investment markets (see the investment policy and performance and risk management sections of the Trustees’ annual report for further information). ## **1.2 Fund accounting policy** Unrestricted income funds are general funds that are available for use at the Trustee’s discretion in furtherance of the objectives of the charity. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. ## **1.3 Incoming resources** Incoming resources are recognised in the accounts on the accruals basis, during the period in which they are due, and therefore match any related expenditure. ## **1.4 Resources expended** Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Costs incurred directly relating to the charitable company’s objectives are included within charitable activities. ## **1.5 Support costs** Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. ## **1.8 Investments** Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the statement of financial activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are charged or credited to the statement of financial activities based on the market value at the year end. Page 10 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **2 a) Voluntary Income** |**Donations, grants and**
**bequeaths**
Donations
Grants
**b) Income on Invested Funds**
Interest on cash deposits
**c) Other Income**
Supplements sales
Symposium registration
Webinar subscriptions
Other income|**Unrestricted**
**Funds**
**£**
102,415
10,000
**112,415**
**Unrestricted**
**Funds**
**£**
2,516
**2,516**
**Unrestricted**
**Funds**
**£**
189
-
12,190
100
**12,479**|**Restricted**
**Funds**
**£**
1,178
-
**1,178**
**Restricted**
**Funds**
**£**
-
**-**
**Restricted**
**Funds**
**£**
-
-
-
-
**-**|**Total**
**Funds**
**2024**
**£**
103,593
10,000
**113,593**
**Total**
**Funds**
**2024**
**£**
**2,516**
**2,516**
**Total**
**Funds**
**2024**
**£**
**189**
**-**
**12,190**
**100**
**12,479**|**Total**
**Funds**
**2023**
**£**
42,938
-
42,938
**Total**
**Funds**
**2023**
**£**
2,516
2,516
**Total**
**Funds**
**2023**
**£**
85
11,310
7,986
-
19,381| |---|---|---|---|---| Page 11 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **NOTES TO THE ACCOUNTS** ## **3 Total resources expended** |**tal resources expended**||||| |---|---|---|---|---| |**Charitable activities**
Consulting
Secretariat costs
Hotels and room hire
Awards to Scientists
**Management and**
**administration costs**
Secretariat costs
Consulting
Audit and accountancy fees
Bank charges
Advertising and marketing
Computer costs
Other expenses
Travel
**Total resources expended**|**Unrestricted**
**Funds**
**£**
-
-
-
-
**-**
-
1,080
4,170
51
228
528
-
-
**6,057**|**Restricted**
**Funds**
**£**
-
-
-
-
**-**
-
-
-
-
-
-
-
-
**-**|**Total**
**Funds**
**2024**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**1,080**
**4,170**
**51**
**228**
**528**
**-**
**-**
**6,057**|**Total**
**Funds**
**2023**
**£**
20,047
7,520
76,802
509| |||||104,878
3,825
-
870
117
3,060
2,897
319
1,759
12,847| The breakdown of support costs and how these were allocated between governance and other support costs is show in the table below:- |**Support costs**
Secretariat costs
Consulting
Audit and accountancy fees
Bank charges
Advertising and marketing
Computer costs
Other expenses
Travel
**Total Support Costs**|**Governance**
**Related**
**£**
-
-
4,170
-
-
-
-
-
**4,170**|**Other**
**Support**
**Costs**
**£**
-
1,080
-
51
228
528
-
-
**1,887**|**Total**
**Allocated**
**2024**
**£**
**-**
**1,080**
**4,170**
**51**
**228**
**528**
**-**
**-**
**6,057**|**Total**
**Allocated**
**2023**
**£**
3,825
-
870
117
3,060
2,897
319
1,759| |---|---|---|---|---| |||||12,847| Page 12 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **NOTES TO THE ACCOUNTS** ## **3 Total resources expended (continued)** Allocation of other support costs is based upon an estimate of time spent on trustee meetings and other governance matters. Total governance costs are analysed below:- |Independent examiners fees
Support costs
**Total governance costs**|**2024**
**£**
**4,170**
**-**
**4,170**|**2023**
**£**
870
-
870| |---|---|---| ## **4 Gains/(losses) on investments** |Net currency translation
gain/(loss)
**Total gains/(losses)**|**Unrestricted**
**Funds**
**£**
(4,176)
**(4,176)**|**Restricted**
**Funds**
**£**
-
**-**|**Total**
**Funds**
**2024**
**£**
**(4,176)**
**(4,176)**|**Total**
**Funds**
**2023**
**£**
(22,020)
(22,020)| |---|---|---|---|---| ## **5 Trustee Directors** No Trustees received any remuneration during the year. ## **6 Net (outgoing)/incoming resources** Net (outgoing)/incoming resources is stated after charging: |Independent Examiners’ costs|**2023**
**£**
**4,170**
**4,170**|**2023**
**£**
870
870| |---|---|---| Page 13 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **NOTES TO THE ACCOUNTS** ## **7 Investments** |**Market value:**
As at 1 December 2023
Additions
Revaluation gains/(losses)
As at 30 November 2024
**Net book value:**
**As at 30 November 2024**
.
As at 30 November 2023|**National**
**Savings**
**£**
27,000
-
-
27,000
27,000
27,000|**Fixed**
**Term**
**Deposits**
**£**
94,033
480
-
94,513
94,513
94,033|**Total**
**£**
**121,033**
**480**
**-**| |---|---|---|---| ||||**121,513**| ||||**121,513**| ||||**121,033**| All investment assets are held in the UK. Listed investments are stated at market value. ## **8 Related parties** There were no related party transactions in the current or prior periods. ## **9 Trustee expenses** There were no Trustee expenses in the current or prior periods. ## **10 Net assets by fund** |Tangible assets
Investments
Current assets
Creditors: Amounts falling due
within one year|**Unrestricted**
**Funds**
**£**
-
93,094
254,427
-
**347,521**|**Restricted**
**Funds**
**£**
-
28,419
12,057
-
**40,476**|**Total**
**2024**
**£**
**-**
**121,513**
**266,484**
**-**
**387,997**|**Total**
**2023**
**£**
-
121,033
148,609
-
269,642| |---|---|---|---|---| ## **11 Reconciliation of net movement in funds to net cash flow from operating activities** |Net movement in funds
(Increase)/decrease in other debtors
(Increase)/decrease in investments|**2024**
**2023**
**£**
**£**
**118,355**
(74,910)
**(33,040)**
-
**(480)**
(1,620)
**84,835**
(76,530)| |---|---| Page 14 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **APPENDICES – NON-STATUTORY NOTE** ## **Analysis of funds – Current year** |**Unrestricted Funds**
Unrestricted fund
**Total Unrestricted Funds**
**Restricted Funds**
John Hughes Memorial Lecture Fund
**1**
Prof Twink Allen Travel Fellowship Fund
**2**
**Total Restricted Funds**
**Total Funds**|**At**
**1 December**
**2023**
**£**
230,344
**230,344**
27,939
11,359
**39,298**
**269,642**|**Incoming**
**resources**
**£**
127,410
**127,410**
-
1,178
**1,178**
**128,588**|**Resources**
**expended**
**£**
(6,057)
**(6,057)**
-
-
**-**
**(6,057)**|**Transfers**
**£**
-
**-**
-
-
**-**
**-**|**Gains and**
**Losses**
**£**
(4,176)
**(4,176)**
-
-
**-**
**(4,176)**|**At**
**30 November**
**2024**
**£**
**347,521**| |---|---|---|---|---|---|---| |||||||**347,521**
**27,939**
**12,537**| |||||||**40,476**| |||||||**387,997**| **1.** Provides funds for an invited speaker to attend and present at the Symposium held every 4 years. **2.** Provides travel fellowships to enable young or more experienced scientists or clinicians to visit centres of research or clinical practice to expand their knowledge and experience and / or transfer knowledge and practical skills. Page 15 Docusign Envelope ID: CECA21A9-61A1-4D0C-A0FA-19BBD086388C ## **THE INTERNATIONAL EQUINE REPRODUCTION TRUST FOR THE YEAR ENDED 30 NOVEMBER 2024** ## **APPENDICES – NON-STATUTORY NOTE** ## **Analysis of funds – Prior year** |**Unrestricted Funds**
Unrestricted fund
**Total Unrestricted Funds**
**Restricted Funds**
John Hughes Memorial Lecture Fund
**1**
Prof Twink Allen Travel Fellowship Fund
**2**
**Total Restricted Funds**
**Total Funds**|**At**
**1 December**
**2022**
**£**
305,254
**305,254**
27,939
11,359
**39,298**
**344,552**|**Incoming**
**resources**
**£**
64,835
**64,835**
-
-
**-**
**64,835**|**Resources**
**expended**
**£**
(117,725)
**(117,725)**
-
-
-
**(117,725)**|**Transfers**
**£**
-
**-**
-
-
**-**
**-**|**Gains and**
**Losses**
**£**
(22,020)
**(22,020)**
-
-
**-**
**(22,020)**|**At**
**30 November**
**2023**
**£**
**230,344**| |---|---|---|---|---|---|---| |||||||**230,344**
**27,939**
**11,359**| |||||||**39,298**| |||||||**269,642**| **1.** Provides funds for an invited speaker to attend and present at the Symposium held every 4 years. **2.** Provides travel fellowships to enable young or more experienced scientists or clinicians to visit centres of research or clinical practice to expand their knowledge and experience and / or transfer knowledge and practical skills. Page 16 ## **Certificate Of Completion** Envelope Id: CECA21A9-61A1-4D0C-A0FA-19BBD086388C Status: Completed Subject: The International Equine Reproduction Trust - Accounts for signing Source Envelope: Document Pages: 20 Signatures: 4 Envelope Originator: Certificate Pages: 5 Initials: 0 Sadie Porter AutoNav: Enabled Calyx House EnvelopeId Stamping: Enabled South Road Time Zone: (UTC) Dublin, Edinburgh, Lisbon, London Taunton, Somerset TA1 3DU sadie.porter@msvet.co.uk IP Address: 13.57.39.154 |**Record Tracking**||| |---|---|---| |Status: Original|Holder: Sadie Porter|Location: DocuSign| |29-Sep-25 | 15:32|sadie.porter@msvet.co.uk|| |**Signer Events**|**Signature**|**Timestamp**| |Amanda Marjorie De Mestre||Sent: 29-Sep-25 | 15:40| |amm43@cornell.edu||Viewed: 29-Sep-25 | 16:44| |Treasurer and Trustee||Signed: 29-Sep-25 | 16:50| |Security Level: Email, Account Authentication
(None)|Signature Adoption: Drawn on Device|| ||Using IP Address: 128.253.119.48|| |**Electronic Record and Signature Disclosure:**||| |Accepted: 29-Sep-25 | 16:44||| |ID: e0ae3d21-b554-4395-9a9b-ba76bc63d648||| |Duncan Nicholas||Sent: 29-Sep-25 | 16:50| |duncan.nicholas@moore-scarrott.co.uk||Resent: 29-Sep-25 | 16:57| |Director/QPRT||Viewed: 29-Sep-25 | 17:03| |Security Level: Email, Account Authentication
(None)|Signature Adoption: Pre-selected Style|Signed: 29-Sep-25 | 17:03| ||Using IP Address: 185.175.38.146|| |**Electronic Record and Signature Disclosure:**||| |Accepted: 29-Sep-25 | 17:03||| |ID: 261f662e-b705-4c99-b12b-d2fce7c5c2e6||| |**In Person Signer Events**|**Signature**|**Timestamp**| |**Editor Delivery Events**|**Status**|**Timestamp**| |**Agent Delivery Events**|**Status**|**Timestamp**| |**Intermediary Delivery Events**|**Status**|**Timestamp**| |**Certified Delivery Events**|**Status**|**Timestamp**| |**Carbon Copy Events**|**Status**|**Timestamp**| |Harry Messenger||Sent: 29-Sep-25 | 15:40| |harry.messenger@msvet.co.uk||| |Security Level: Email, Account Authentication||| |(None)||| |**Electronic Record and Signature Disclosure:**||| |Accepted: 21-Feb-25 | 13:48||| |ID: 78dcb708-a85c-4e33-bd90-659065b584f6||| |**Carbon Copy Events**|**Status**|**Timestamp**| |---|---|---| |Penny Millman||Sent: 29-Sep-25 | 15:40| |penny.millman@msvet.co.uk||| |Security Level: Email, Account Authentication||| |(None)||| |**Electronic Record and Signature Disclosure:**||| |Accepted: 10-Sep-25 | 15:07||| |ID: e67e9800-9de4-4222-a9f1-b682a445817d||| |**Witness Events**|**Signature**|**Timestamp**| |**Notary Events**|**Signature**|**Timestamp**| |**Envelope Summary Events**|**Status**|**Timestamps**| |Envelope Sent|Hashed/Encrypted|29-Sep-25 | 15:40| |Envelope Updated|Security Checked|29-Sep-25 | 16:57| |Certified Delivered|Security Checked|29-Sep-25 | 17:03| |Signing Complete|Security Checked|29-Sep-25 | 17:03| |Completed|Security Checked|29-Sep-25 | 17:03| |**Payment Events**|**Status**|**Timestamps**| |**Electronic Record and Signature Disclosure**||| Electronic Record and Signature Disclosure created on: 31-Mar-20 | 09:04 Parties agreed to: Amanda Marjorie De Mestre, Duncan Nicholas, Harry Messenger, Penny Millman ## **ELECTRONIC RECORD AND SIGNATURE DISCLOSURE** From time to time, Moore Scarrott Ltd (we, us or Company) may be required by law to provide to you certain written notices or disclosures. Described below are the terms and conditions for providing to you such notices and disclosures electronically through the DocuSign system. Please read the information below carefully and thoroughly, and if you can access this information electronically to your satisfaction and agree to this Electronic Record and Signature Disclosure (ERSD), please confirm your agreement by selecting the check-box next to ‘I agree to use electronic records and signatures’ before clicking ‘CONTINUE’ within the DocuSign system. ## **Getting paper copies** At any time, you may request from us a paper copy of any record provided or made available electronically to you by us. You will have the ability to download and print documents we send to you through the DocuSign system during and immediately after the signing session and, if you elect to create a DocuSign account, you may access the documents for a limited period of time (usually 30 days) after such documents are first sent to you. 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