## **`Report of the Trustees and`**
```
Unaudited Financial Statements for the Year Ended 31 December 2020
```
## **`for`**
```
British Charollais Sheep Society Limited
```
```
British Charollais Sheep Society Limited
```
```
Contents of the Financial Statements
for the year ended 31 December 2020
```
||**`Page`**|**`Page`**|**`Page`**|
|---|---|---|---|
|**`Report of the Trustees`**|`1`|`to`|`3`|
|**`Independent Examiner's Report`**||`4`||
|**`Statement of Financial Activities`**||`5`||
|**`Balance Sheet`**|`6`|`to`|`7`|
|**`Notes to the Financial Statements`**|`8`|`to`|`14`|
|**`Detailed Statement of Financial Activities`**|`15`|`to`|`16`|
```
British Charollais Sheep Society Limited
```
## **`Report of the Trustees`**
## **`for the year ended 31 December 2020`**
```
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31December2020. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and aims`**
```
The Charity's primary purposes are:
```
`1. To promote the science and practice of agriculture by encouraging and improving efficient breeding in the United Kingdom of Charollais sheep.`
`2. To undertake research in the subject of sheep breeding and matters relating thereto and to publish the results of such research.`
```
3.TheCharityisorganisedsothatthetrusteesmeetregularlytomanageitsaffairs.The administrative
functions are carried out by the Company Secretary.
```
```
There have been no changes in the objectives since the last annual report.
```
## **`COVID-19 AND going concern`**
```
Incommonwithothercharitiesandtheeconomyingeneral,thecharity'sactivitieswereaffectedby the
globalCoronaviruspandemicwhichstartedinWuhan,HubeiProvinceinChinaandledtorestrictions on
movement of individuals and the activities of business and charities in the UK from late March 2020.
```
```
InaccordancewithgovernmentinstructionsandguidancetheCharityhasbeenunabletoparticipatein all
itsusualactivity,withagriculturalshowsandspecialisteventsbeingcancelled,atwhichthe Society
wouldhavepromotedthebreedtopotentialcustomers.Howeversupportfromourcurrentmembers has
remained constant.
```
```
Atthetimetheseaccountsarebeingsignedoff,restrictionsregardingsocialdistancingandgatherings of
individualsremaininplace,positivecasesofthevirusremainhighbutthevaccinationprocessis well
underwayanditislookinghopefulthatrestrictionswillsoonstarttoeaseagain.Itisnotknownat this
stagewhetherthecurrentgovernmentmeasureswillresolvethingssatisfactorily,norhowlongthat may
take. We are thankful that livestock auction markets are able to trade, albeit under covid restrictions.
```
```
Againstthisbackdropitismuchharderthannormaltomakeconfidentpredictionsaboutthefuture. The
TrusteesandmanagementoftheCharityhaveconsideredandreviewedtheissuesandasfarasthey are
able, taking all foreseeable factors into account, and by using known data such as:-
```
- `Current bank reserves`
- `Current income from charitable activities`
```
areoftheopinionthattheCharitywillcontinueinoperationfor12monthsfromthedateofsigning of
thisTrustees'reportandtheseaccountsandthataccordinglyitisreasonableforthefinancial statements
to have been prepared using the going concern concept.
```
## **`Public benefit`**
```
BCSS(TheBritishCharollaisSheepSociety)workstoadvancesciencebytheencouragement, promotion
andimprovementofthebreedingofCharollaisSheepintheUnitedKingdomofGreatBritain and
NorthernIrelandandelsewhere.Thisisachievedbythemaintenanceofthepurityofthebreedand with
aviewtheretoifandsofarasmaybethoughtfit,topurchase,import,breedorotherwiseacquire and
hold,resellorotherwisedealincharollaissheepwhetherofBritishorforeignorigin.Itisfurther achieved
bytheadvancementofcitizenshiporcommunitydevelopment,bysupportingandpromotingthe interests
ofthosewhobreedCharollaisSheep,andtheadvancementofeducationthroughthedevelopment of
individualcapabilities,skillsandunderstandingbyprovidingtrainingandbroadereducationinrelation to
the farming of Charollais Sheep.
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Charitable activities`**
```
ThetrusteesconsiderthattheperformanceoftheCharitythisyearhasbeengood.Nomajorchanges to
the way the Charity operates or its objectives are envisaged in the forthcoming year.
```
```
Page 1
```
```
British Charollais Sheep Society Limited
```
## **`Report of the Trustees`**
## **`for the year ended 31 December 2020`**
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Investment policy and returns`**
```
Underthememorandumandarticlesofassociation,theCharityhasthepowertomakeany investment
whichthetrusteesseefit.Thetrusteeshaveconsideredthemostappropriatepolicyforinvesting funds
and consider returns on investments during the year to be satisfactory.
```
## **`FINANCIAL REVIEW`**
## **`Principal funding sources`**
```
Theprincipalfundingsourcesarereceiptsfrommembersintheformofsubscriptions,registration fees
and sales fees / commissions.
```
## **`Reserves policy`**
```
TheTrusteesconsiderandreviewtherequirementsonanannualbasistoestablishareserves policy
allowingadequatesupportforthecontinuationoftheCharity'swork.Thecurrentlevelofreserves are
deemed to be satisfactory for this purpose.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
TheCharityisregisteredasacharitablecompanylimitedbyguaranteeandwassetupbya Memorandum
of Association on 2 December 1977.
```
## **`Recruitment and appointment of new trustees`**
```
Tobeeligibleforappointmentasatrusteeindividualsneedtoberegisteredflockholders. Potential
trusteesareproposedbymemberswithselectionbysealedballotpaperswherethereare more
nominations than vacancies. The appointments are announced at the Annual General Meeting.
```
## **`Related parties`**
```
Related party transactions are disclosed in the notes to the financial statements.
```
## **`Risk management and reserves`**
```
ThetrusteeshaveassessedthemajorriskstowhichtheCharityisexposed,inparticularthosethat could
effecttheoperationsandfinancesoftheCharitygoingforward.Thishasbroughtthemtothe conclusions
andthepotentialmitigationsandsolutionslistedbelow.ThequestionofBrexitandour ongoing
relationshipwithEuropehasnowbeenresolved.Howeveralterationsinthemovementarrangements for
animalstoNorthernIrelandandEUcountrieswillcausedisruptioninthismarket.Themarketreturns for
sheepmeatduringtheyearhaveremainedbuoyant,whichshouldbodewellforsalesin2021.With the
lack of shows and specialist events more effort and expenditure will be deployed with social media.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number`**
```
01341920 (England and Wales)
```
## **`Registered Charity number`**
```
282757
```
## **`Registered office`**
```
Crogham Farm
Youngman's Road
WYMONDHAM
Norfolk
NR18 0RR
```
```
Page 2
```
```
British Charollais Sheep Society Limited
```
## **`Report of the Trustees`**
## **`for the year ended 31 December 2020`**
## **`Trustees`**
```
C Sercombe
J Clanachan (resigned 15.9.2020)
D Prichard Evans
W Mcallister
C W Thomas
A B Pedrick
A Thomas
D Norman
R A Gray (appointed 15.9.2020)
S Dunkley (appointed 15.9.2020)
```
## **`Company Secretary`**
```
C A Barber
```
## **`Independent Examiner`**
```
Argents Chartered Accountants
15 Palace Street
NORWICH
Norfolk
NR3 1RT
```
```
Approved by order of the board of trustees on 20 April 2021 and signed on its behalf by:
```
```
A Thomas - Trustee
```
```
Page 3
```
## **`Independent Examiner's Report to the Trustees of British Charollais Sheep Society Limited`**
## **`Independent examiner's report to the trustees of British Charollais Sheep Society Limited ('the Company')`**
```
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 December 2020.
```
## **`Responsibilities and basis of report`**
```
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act
2006 ('the 2006 Act').
```
```
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16 of
the2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your
charity'saccountsascarriedoutundersection145oftheCharitiesAct2011('the2011Act').In carrying
outmyexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionundersection 145(5)
(b) of the 2011 Act.
```
## **`Independent examiner's statement`**
```
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentionin connection
with the examination giving me cause to believe:
```
`1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or`
`4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).`
```
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
```
```
Mark Johnstone, FCA
Argents Chartered Accountants
15 Palace Street
NORWICH
Norfolk
NR3 1RT
```
```
29 April 2021
```
```
Page 4
```
```
British Charollais Sheep Society Limited
```
## **`Statement of Financial Activities`**
## **`for the year ended 31 December 2020`**
|||**`2020`**|`2019`|
|---|---|---|---|
|||**`Unrestricted`**||
|||**`funds`**|`Total funds`|
||`Notes`|**`£`**|`£`|
|**`INCOME AND ENDOWMENTS FROM`**||||
|`Donations and legacies`|`2`|**`3,123`**|`4,018`|
|**`Charitable activities`**|`5`|||
|`Charitable activities`||**`148,574`**|`169,728`|
|`Other trading activities`|`3`|**`807`**|`1,846`|
|`Investment income`|`4`|**`6,230`**|`8,375`|
|**`Total`**||**`158,734`**|`183,967`|
|**`EXPENDITURE ON`**||||
|`Raising funds`||**`20,257`**|`30,280`|
|**`Charitable activities`**|`6`|||
|`Charitable activities`||**`89,102`**|`109,974`|
|`Other costs`|`9`|**`28,132`**|`41,620`|
|**`Total`**||**`137,491`**|`181,874`|
|`Net gains on investments`||**`849`**|`30,030`|
|**`NET INCOME`**||**`22,092`**|`32,123`|
|**`RECONCILIATION OF FUNDS`**||||
|**`Total funds brought forward`**||**`337,631`**|`305,508`|
|**`TOTAL FUNDS CARRIED FORWARD`**||**`359,723`**|`337,631`|
```
The notes form part of these financial statements
```
```
Page 5
```
```
British Charollais Sheep Society Limited
```
## **`Balance Sheet`**
## **`31 December 2020`**
|||**`2020`**|`2019`|
|---|---|---|---|
|||**`Unrestricted`**||
|||**`funds`**|`Total funds`|
||`Notes`|**`£`**|`£`|
|**`FIXED ASSETS`**||||
|`Tangible assets`|`12`|**`4,613`**|`6,565`|
|`Investments`|`13`|**`263,990`**|`263,116`|
|||**`268,603`**|`269,681`|
|**`CURRENT ASSETS`**||||
|`Stocks`|`14`|**`5,969`**|`5,824`|
|`Debtors`|`15`|**`12,296`**|`17,477`|
|`Cash at bank`||**`84,880`**|`48,811`|
|||**`103,145`**|`72,112`|
|**`CREDITORS`**||||
|`Amounts falling due within one year`|`16`|**`(12,025)`**|`(4,162)`|
|**`NET CURRENT ASSETS`**||**`91,120`**|`67,950`|
|**`TOTAL ASSETS LESS CURRENT`**||||
|**`LIABILITIES`**||**`359,723`**|`337,631`|
|**`NET ASSETS`**||**`359,723`**|`337,631`|
|**`FUNDS`**|`17`|||
|`Unrestricted funds`||**`359,723`**|`337,631`|
|**`TOTAL FUNDS`**||**`359,723`**|`337,631`|
```
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006
for the year ended 31 December 2020.
```
```
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
```
```
The trustees acknowledge their responsibilities for
```
- `(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and`
- `(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.`
```
The notes form part of these financial statements
```
```
continued...
```
```
Page 6
```
```
British Charollais Sheep Society Limited
```
## **`Balance Sheet - continued`**
## **`31 December 2020`**
```
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.
```
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
20 April 2021 and were signed on its behalf by:
```
```
A Thomas - Trustee
```
```
The notes form part of these financial statements
```
```
Page 7
```
```
British Charollais Sheep Society Limited
```
## **`Notes to the Financial Statements`**
```
for the year ended 31 December 2020
```
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS
102)(effective1January2019)',FinancialReportingStandard102'TheFinancial Reporting
StandardapplicableintheUKandRepublicofIreland'andtheCompaniesAct2006.The financial
statementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investments which are included at market value, as modified by the revaluation of certain assets.
```
## **`Income`**
```
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.
```
## **`Tangible fixed assets`**
```
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.
```
```
Office equipment- 25% on cost
Show equipment- 25% on cost
```
## **`Stocks`**
```
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowance for
obsolete and slow moving items.
```
## **`Taxation`**
```
AsthecompanyisaregisteredcharityundertheCharitiesAct(Reg.No.282757),itis exempt
fromtaxation,andwillremainsowhilstitcontinuestobeacharityandappliesitsincome for
charitable purposes in accordance with Section 505 Income and Corporation Taxes Act 1988.
```
## **`Fund accounting`**
```
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the
charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular
restricted purposes. There are currently no restricted funds.
```
## **`Investments`**
```
Atthebalancesheetdate,listedinvestmentsarestatedatmarketvalue.TheSOFAincludes the
net gains and losses arising on revaluations and disposals throughout the year.
```
```
continued...
```
```
Page 8
```
```
British Charollais Sheep Society Limited
```
## **`Notes to the Financial Statements - continued for the year ended 31 December 2020`**
|**`2.`**
**`DONATIONS AND LEGACIES`**
`Donations, sponsorship and gift aid`
**`3.`**
**`OTHER TRADING ACTIVITIES`**
`Sale of promotional items`
**`4.`**
**`INVESTMENT INCOME`**
`Interest and dividends received on investments`
`Deposit account interest`
**`5.`**
**`INCOME FROM CHARITABLE ACTIVITIES`**
`Activity`
`Registration fees and flock`
`registration`
`Charitable activities`
`Commission on sales`
`Charitable activities`
`Sale entry fees`
`Charitable activities`
`Year book and other`
`publications`
`Charitable activities`
`Genetic testing`
`Charitable activities`
`Subscriptions`
`Charitable activities`
**`6.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Direct`
`Costs (see`
`note 7)`
`£`
`Charitable activities`
**`21,578`**|**`2020`**
**`£`**
**`3,123`**
**`2020`**
**`£`**
**`807`**
**`2020`**
**`£`**
**`6,105`**
**`125`**
**`6,230`**
**`2020`**
**`£`**
**`66,894`**
**`8,219`**
**`18,182`**
**`14,807`**
**`14,574`**
**`25,898`**
**`148,574`**
`Support`
`costs (see`
`note 8)`
`£`
**`67,524`**|`2019`
`£`
`4,018`
`2019`
`£`
`1,846`
`2019`
`£`
`8,178`
`197`
`8,375`
`2019`
`£`
`70,771`
`14,361`
`23,817`
`14,023`
`19,983`
`26,773`|`2019`
`£`
`4,018`|
|---|---|---|---|
||||`2019`
`£`
`1,846`|
||||`2019`
`£`
`8,178`
`197`|
||||`8,375`|
|||`169,728`||
|||`Totals`
`£`
**`89,102`**||
```
continued...
```
```
Page 9
```
```
British Charollais Sheep Society Limited
```
## **`Notes to the Financial Statements - continued for the year ended 31 December 2020`**
## **`7. DIRECT COSTS OF CHARITABLE ACTIVITIES`**
|**`DIRECT COSTS OF CHARITABLE ACTIVITIES`**|||
|---|---|---|
||**`2020`**|`2019`|
||**`£`**|`£`|
|`Show expenses`|**`(552)`**|`6,703`|
|`Regional expenses`|**`100`**|`1,887`|
|`Sale costs`|**`5,263`**|`7,808`|
|`Yearbook, newsletter and other publication expenses`|**`4,878`**|`4,651`|
|`Genetic testing`|**`11,439`**|`16,186`|
|`Welsh Farm Project`|**`450`**|`-`|
||**`21,578`**|`37,235`|
|**`SUPPORT COSTS`**|||
|||`General`|
|||`support`|
|||`costs`|
|||`£`|
|`Charitable activities`||**`67,524`**|
|`Support costs, included in the above, are as follows:`|||
||**`2020`**|`2019`|
||`Charitable`|`Total`|
||`activities`|`activities`|
||`£`|`£`|
|`Management and administration`|**`61,000`**|**`66,000`**|
|`Interest payable and similar charges`|**`1,122`**|**`1,189`**|
|`Accountancy and legal fees`|**`2,246`**|**`2,239`**|
|`Depreciation of tangible fixed assets`|**`3,156`**|**`3,311`**|
||**`67,524`**|**`72,739`**|
|**`OTHER COSTS`**|||
||**`2020`**|`2019`|
||**`£`**|`£`|
|`Postage and telephone`|**`9,865`**|`10,618`|
|`Printing and stationery`|**`1,172`**|`2,503`|
|`Subscriptions`|**`1,443`**|`2,078`|
|`Office and storage accommodation`|**`7,600`**|`7,600`|
|`Motor and travelling`|**`-`**|`4,295`|
|`Hotel and meal charges`|**`142`**|`3,294`|
|`Office expenses`|**`4,630`**|`5,433`|
|`Meeting expenses`|**`3,280`**|`5,799`|
||**`28,132`**|`41,620`|
## **`8. SUPPORT COSTS`**
## **`9. OTHER COSTS`**
```
continued...
```
```
Page 10
```
```
British Charollais Sheep Society Limited
```
## **`Notes to the Financial Statements - continued for the year ended 31 December 2020`**
## **`10. NET INCOME/(EXPENDITURE)`**
```
Net income/(expenditure) is stated after charging/(crediting):
```
||**`2020`**|`2019`|
|---|---|---|
||**`£`**|`£`|
|`Depreciation - owned assets`|**`3,156`**|`3,311`|
## **`11. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2020 nor
for the year ended 31 December 2019.
```
```
Trusteesundertakeworkonbehalfofthesocietyonanunpaidbasis.Nocalculationof this
voluntary work has been reflected in the financial results.
```
## **`Trustees' expenses`**
```
There was £179 in expenses paid to the trustees in the year. (2019: £1,696)
```
## **`12. TANGIBLE FIXED ASSETS`**
|**`TANGIBLE FIXED ASSETS`**||
|---|---|
|`Office`
`Show`
`equipment`
`equipment`
`£`
`£`
**`COST`**
`At 1 January 2020`
**`14,085`**
**`39,992`**
`Additions`
**`1,204`**
**`-`**
`At 31 December 2020`
**`15,289`**
**`39,992`**
**`DEPRECIATION`**
`At 1 January 2020`
**`11,557`**
**`35,955`**
`Charge for year`
**`1,422`**
**`1,734`**
`At 31 December 2020`
**`12,979`**
**`37,689`**
**`NET BOOK VALUE`**
`At 31 December 2020`
**`2,310`**
**`2,303`**
`At 31 December 2019`
`2,528`
`4,037`|`Totals`
`£`
**`54,077`**
**`1,204`**|
||**`55,281`**|
||**`47,512`**
**`3,156`**|
||**`50,668`**|
||**`4,613`**|
||`6,565`|
## **`13. FIXED ASSET INVESTMENTS`**
||**`Listed`**|
|---|---|
||**`securitie`**
**`s`**|
||**`£`**|
|**`MARKET VALUE`**||
|`At 1 January 2020`|`263,116`|
|`Additions`|`51,242`|
|`Disposals`|`(56,373)`|
|`Revaluations`|`6,005`|
|||
|||
|`At 31 December 2020`|`263,990`|
|||
```
continued...
```
```
Page 11
```
```
British Charollais Sheep Society Limited
```
## **`Notes to the Financial Statements - continued`**
|**`Notes to the Financial Statements - continued`**|||||
|---|---|---|---|---|
|**`for the year ended 31 December 2020`**
**`14.`**
**`STOCKS`**
**`2020`**
`2019`
**`£`**
`£`
`Stocks`
**`5,969`**
`5,824`
**`15.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
**`2020`**
`2019`
**`£`**
`£`
`Trade debtors`
**`12,062`**
`17,477`
`Prepayments and accrued income`
**`234`**
`-`
**`12,296`**
`17,477`
**`16.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
**`2020`**
`2019`
**`£`**
`£`
`Trade creditors`
**`6,521`**
`897`
`VAT`
**`3,804`**
`565`
`Accruals and deferred income`
**`1,700`**
`2,700`
**`12,025`**
`4,162`
**`17.`**
**`MOVEMENT IN FUNDS`**
`Net`
`movement`
`At`
`At 1.1.20`
`in funds`
`31.12.20`
`£`
`£`
`£`
**`Unrestricted funds`**
`General fund`
**`337,631`**
**`22,092`**
**`359,723`**
**`TOTAL FUNDS`**
**`337,631`**
**`22,092`**
**`359,723`**
`Net movement in funds, included in the above are as follows:`
`Incoming`
`Resources`
`Gains and`
`Movement`
`resources`
`expended`
`losses`
`in funds`
`£`
`£`
`£`
`£`
**`Unrestricted funds`**
`General fund`
**`158,734`**
**`(137,491)`**
**`849`**
**`22,092`**
**`TOTAL FUNDS`**
**`158,734`**
**`(137,491)`**
**`849`**
**`22,092`**
**`Comparatives for movement in funds`**
`Net`
`movement`
`At`
`At 1.1.19`
`in funds`
`31.12.19`
`£`
`£`
`£`
**`Unrestricted funds`**
`General fund`
`305,508`
`32,123`
`337,631`
**`TOTAL FUNDS`**
`305,508`
`32,123`
`337,631`|`2019`
`£`
`5,824`
`2019`
`£`
`17,477`
`-`
`17,477`
`2019`
`£`
`897`
`565`
`2,700`
`4,162`
`At`
`31.12.20`
`£`
**`359,723`**||`2019`
`£`
`5,824`
`2019`
`£`
`17,477`
`-`|`2019`
`£`
`5,824`|
||||`17,477`||
||||`2019`
`£`
`897`
`565`
`2,700`||
||||`4,162`||
||**`359,723`**||||
|||**`22,092`**|||
|||`At`
`31.12.19`
`£`
`337,631`|||
|||`337,631`|||
```
continued...
```
```
Page 12
```
```
British Charollais Sheep Society Limited
```
## **`Notes to the Financial Statements - continued for the year ended 31 December 2020`**
## **`17. MOVEMENT IN FUNDS - continued`**
```
Comparative net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Gains and`
`Movement`
`resources`
`expended`
`losses`
`in funds`
`£`
`£`
`£`
`£`
`183,967`
`(181,874)`
`30,030`
`32,123`
`183,967`
`(181,874)`
`30,030`
`32,123`|`Incoming`
`Resources`
`Gains and`
`Movement`
`resources`
`expended`
`losses`
`in funds`
`£`
`£`
`£`
`£`
`183,967`
`(181,874)`
`30,030`
`32,123`
`183,967`
`(181,874)`
`30,030`
`32,123`|
|---|---|---|
|||`32,123`|
```
A current year 12 months and prior year 12 months combined position is as follows:
```
|`Net`
`movement`
`At 1.1.19`
`in funds`
`£`
`£`
**`Unrestricted funds`**
`General fund`
`305,508`
`54,215`
**`TOTAL FUNDS`**
`305,508`
`54,215`|`At`
`31.12.20`
`£`
`359,723`|
|---|---|
||`359,723`|
```
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Gains and`
`Movement`
`resources`
`expended`
`losses`
`in funds`
`£`
`£`
`£`
`£`
`342,701`
`(319,365)`
`30,879`
`54,215`
`342,701`
`(319,365)`
`30,879`
`54,215`|`Incoming`
`Resources`
`Gains and`
`Movement`
`resources`
`expended`
`losses`
`in funds`
`£`
`£`
`£`
`£`
`342,701`
`(319,365)`
`30,879`
`54,215`
`342,701`
`(319,365)`
`30,879`
`54,215`|
|---|---|---|
|||`54,215`|
```
IncludedwithintheGeneralfundareamountsinrelationtoRegion3of£922(2019:£922) and
Region 4 of £1,429 (2019: £1,429).
```
## **`18. RELATED PARTY DISCLOSURES`**
```
ThecharityhadtransactionswithCeresSolutions,apartnershipinwhichCarrollBarber, company
secretary,isapartner.Thecharitypurchasedsecretarialandadministrativeservices and
accommodationfromCeresSolutionsduringtheyeartothevalueof£68,600.Ceres Solutions
employs4staffwhoareinvolvedintheprovisionofservicestothecharity.Duringtheyear Ceres
Solutionsreceived£1,388fromtheCharityforuseofitsofficeequipment,ofwhich£Nil was
outstandingatthebalancesheetdate.CorrespondinglytheCharityreceivedincomeof £1,137
fromCeresSolutionsforuseofitsownofficeequipment,ofwhich£20wasoutstandingat the
balance sheet date.
```
## **`The following table shows the amounts received from trustees during the year, in relation to membership fees, registration fees, sale entry fees and advertising:-`**
|||**`Sales`**||
|---|---|---|---|
|||**`Balance `**|**`Total amount`**|
|||**`owing/owed`**|**`received`**|
|||**`£`**|**`£`**|
|`J Clanachan (Res.`|`15/09/20)`|**`-`**|**`212`**|
```
continued...
```
```
Page 13
```
```
British Charollais Sheep Society Limited
```
```
Notes to the Financial Statements - continued
for the year ended 31 December 2020
```
## **`18. RELATED PARTY DISCLOSURES - continued`**
|`D Evans`|**`-`**|**`774`**|
|---|---|---|
|`D Norman`|**`-`**|**`510`**|
|`W McAllister`|**`-`**|**`903`**|
|`C Sercombe`|**`-`**|**`1,952`**|
|`C Thomas`|**`-`**|**`1,538`**|
|`A Pedrick`|**`-`**|**`568`**|
|`A Thomas`|**`-`**|**`1,213`**|
|`T Mawer`|**`-`**|**`239`**|
|`S Dunkley`|**`-`**|**`529`**|
|`R Gray (App. 15/09/20)`|**`-`**|**`300`**|
## **`19. REGIONS`**
```
Someregionsorganiselocalfundraisingandpromotionalactivitieswhicharenotaccountedfor in
these financial statements.
```
```
Page 14
```
```
British Charollais Sheep Society Limited
```
## **`Detailed Statement of Financial Activities for the year ended 31 December 2020`**
|**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`Donations, sponsorship and gift aid`
**`Other trading activities`**
`Sale of promotional items`
**`Investment income`**
`Interest and dividends received on`
`investments`
`Deposit account interest`
**`Charitable activities`**
`Registration fees and flock registration`
`Commission on sales`
`Sale entry fees`
`Year book and other publications`
`Genetic testing`
`Subscriptions`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Raising donations and legacies`**
`Advertising and promotional expenses`
**`Charitable activities`**
`Show expenses`
`Regional expenses`
`Sale costs`
`Yearbook, newsletter and other publication`
`expenses`
`Genetic testing`
`Welsh Farm Project`
**`Other costs`**
`Postage and telephone`
`Printing and stationery`
`Subscriptions`
`Office and storage accommodation`
`Motor and travelling`
`Hotel and meal charges`
`Office expenses`
`Meeting expenses`|`2020`
`£`
**`3,123`**
**`807`**
**`6,105`**
**`125`**
**`6,230`**
**`66,894`**
**`8,219`**
**`18,182`**
**`14,807`**
**`14,574`**
**`25,898`**
**`148,574`**
**`158,734`**
**`20,257`**
**`(552)`**
**`100`**
**`5,263`**
**`4,878`**
**`11,439`**
**`450`**
**`21,578`**
**`9,865`**
**`1,172`**
**`1,443`**
**`7,600`**
**`-`**
**`142`**
**`4,630`**
**`3,280`**
**`28,132`**|`2019`
`£`
`4,018`
`1,846`
`8,178`
`197`|
|---|---|---|
|||`8,375`
`70,771`
`14,361`
`23,817`
`14,023`
`19,983`
`26,773`|
|||`169,728`|
|||`183,967`
`30,280`
`6,703`
`1,887`
`7,808`
`4,651`
`16,186`
`-`|
|||`37,235`
`10,618`
`2,503`
`2,078`
`7,600`
`4,295`
`3,294`
`5,433`
`5,799`|
|||`41,620`|
```
This page does not form part of the statutory financial statements
```
```
Page 15
```
```
British Charollais Sheep Society Limited
```
## **`Detailed Statement of Financial Activities for the year ended 31 December 2020`**
|**`Detailed Statement of Financial Activities`**
**`for the year ended 31 December 2020`**|||
|---|---|---|
|**`Support costs`**
**`General support costs`**
`Management and administration`
`Interest payable and similar charges`
`Accountancy and legal fees`
`Depreciation of tangible fixed assets`
`Total resources expended`
**`Net income before gains and losses`**
**`Realised recognised gains and losses`**
`Realised gains/(losses) on fixed asset`
`investments`
**`Net income`**|`2020`
`£`
**`61,000`**
**`1,122`**
**`2,246`**
**`3,156`**
**`67,524`**
**`137,491`**
**`21,243`**
**`(5,156)`**
**`16,087`**|`2019`
`£`
`66,000`
`1,189`
`2,239`
`3,311`|
|||`72,739`|
|||`181,874`|
|||`2,093`
`1,025`|
|||`3,118`|
```
This page does not form part of the statutory financial statements
```
```
Page 16
```