PRS Patton Rainey I Stenson Limited CHAR TERED ACCOUNTANTS & REGISTERED AUDITORS REGISTERED CHARITY NUMBER: NIC 101610 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEItR ENDED 31 DECEMBER 2024 FOR HOLSTEIN NORTHERN IRELAND Patton Rainey Stenson Limited Chartered Accountants 6 East Bridge Street Enniskillen Co Fermanagh BT74 7BT CHARTERED ACCOUNTANTS IRELAND Registered to carry oirt audit work and regulated for a fange ot investmgnt buslness aCt￿itFe8 in the Uniteil Kingdotn by the Inslitute ol Ghartered ACCOUnta￿t$ in IrelaAd Chartered Tax Advisers HOLSTEIN NORTHERN IRELAND CONTENTS OF THE FINANCIAL STATEIIIENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9-12 Detailed Statement of Financial Activities 13 HOLSTEIN NORTHERN IRELAND TRUSTEES) REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the financial statements of Holstein Northern Ireland for the year ended 31 December 2024. The following Trustees held office during the year and Ten￿1n in office:_ Gaston Wallace Stuart Smith William Bolton Jolm Martin The registered office of the club is 92 - 94 Granville Road, Dungannon B T70 INJ. The Trustees confirn] that the Annual report and financial statements of the club comply with the current statutory requirements, the requirements of the club's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in January 2015. Strncture) governancc and managcment Constitution The club is registered as a charity and was set up by a constithtion on 22. March 1999. The club is also registered with the Charity Commission for Northern IrcIand under number NIC 101610. b. Method of appointment or election of Trustees The management of the charity is the responsibility of the Trustees who are elected and co- opted by the management committee of the charity under the tenns of its constitution. Objectives and Activities Review of activities Holstein Northern Ireland is a registered charity that assists in the promotion of Agriculture by the encouragement, promotion and improvement of the breeding of Holstein Cattle in the United Kingdom of Great Britain and Northern Ireland and the Republic of Ireland with particular reference to the Counties of Amiagh, Down, Femanagh, Antrim, Londondcrry and l yrone. By the improvement of the breeding of Holstein Cattle in Northern Ireland it is expected that the additional bcnefits of the improvement of animal welfarc, the provision of information and knowledg¢ to local fanners to improve breeding decisions madc by them, to improve th¢ education of the agricultural community and the general public by the provision of information and statistics through various forums, and contribulion to the improvement to the social welfarc of the rural community. The Charity has hosted presentations and meetings open to members and the wider agricultur community where the audience was addressed by infomied speakers from the agricultural sector. In addition the charity organised sales, open days, farni walks, herd competitions, judging competitions and educational tours all to educate members of the charity and the wider public. Page I HOLSTEIN NORTHERN IRELAND TRUSTEES, RIPORT (eontinued) FOR THE YEAR ENDED 31 DECEMBER 2024 Financial review The Club is reliant on commissions on sales, subscriptions and contributions from its membership and sponsors which for the year ended 31 December 2024 amounted to £58,078 (2023 £73,493). The Trustees consider that the unrestricted funds of the Club will enable them to have sufficient resources and assets at their disposal to be in a position to adequately ￿lfIl their obligations. The charity held £91,334 Cash Reserves at the year end (202) £1 00,762). Reserves policy The income of the Club is considered stable and the risks associated with any significant reduction in income is regarded as unlikely. The Trustees are satisfied that a figure equating to approximately twelve months expenditLwe is an appropriate level of reserve balance at the present time. Plans for the future a. Future developments The charity intends to continue the work it performs for the benefit of members and the public in accordance with the tems of its constitution. Trustees, responsibilities statement Th¢ 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). Charities legislation requires the Trustees to prepare fmancial statements for each financial year. Under Charities legislation the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the receipts and payments, of the charity for that year. 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. 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 adequate 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 fLnancial statements comply with the Charities legislation. Page 2 HOLSTEIN NORTHERN IRELAND TRUSTEESY REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 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 irrcgularities. This report was approved by the Trustees on the 2nd April 2025. And signed on their behalf by: Gaston Wallace Page 3 PRS Patton Rainey I Stenson Limited CHARTERED ACCOUNTANTS & FiEGISTERED ALIDITORS HOLSTEIN NORTHERN IRELAND INDEPENDKNT EXAMINERJS REPORT TO THE TRUSTEES OF HOLSTEIN NORTHERN IRELAND FOR THE YEAR ENDED 31 DECEMBER 2024 I report on the accounts of the company for the year ¢nded 31 December 2024 which are set out on pages 6 to 12. Respective Responsibilities of Charity Trustees and Examiner As the Charity T￿￿teeS you are responsible for the preparation of the accounts in accordance with the ternis of the Charities Act (Northern Ireland) 2008. Having satisfied myself that the charity is not subject to audit und¢r Charities legislation, and is eligible for independent examination, it is my responsibility to: examine the accounts under section 65 of the Charities Act Follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act state whether particular matters have come to my attention Basis of Independent Examiner's Report I have examined your charity accounts as required under s¢ction 65 of the Charities Act and, my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)0)) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: That accounting records were not kept in accordance with section 63 of the Charities Act 2008 That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of the Charities Act 2008. That there is further inforniation needed for a proper understanding of the accounts to be reached. CHARTERED ACCOUNTANTS IRELAND Page 4 Registered to carry out audit work and rÈgulate(I for a range ol inveslrnent business aclivrties in thg Uniled Kingdom by tk* Instittjte of Chartered Accountants in Ireland Chartered Tax Advisers PRS Patton Rainey I Stenson Limited CHAR TEFIED ACCOUNTANTS & REGISTERED AUDITORS HOLSTEIN NORTHERN IRELAND IIYDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOLSTEIN NORTHC, RN IRELAND FOR THE YEAR ENDED 31 DECEMBER 2024 Independent Examinerys Statement I have completed my examination and have no concerns in respect of the matters (l) to (4) listed above and, in connection with the following the Directions of the Charity Con]mission for Northern Ireland, I have found no matters that require drawing to your attention. Thomas Samuel Patton FCA . Patton Rainey Stenson Limited Chartered Accountants 6 East Bridge Street Enniskillen Co Fernianagh BT74 7BT 2nd April 2025 Page 5 CHARTERED ACCOUNTANTS IRELAND Chartered Tax Advisers Registered to Ca￿ out audit work and regulated lor a range of inv85tm8nt busines activities in the United Kingdom by the Institute of Ch8rtered Accountants ill Ireland HOLSTEIN NORTHERN IRELAND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 31.1224 31.12.23 Unrestricted Unrestrieted Fund Fund Notes INCOME AND END0WI￿ENTs Donations, Subscriptions and Commissions 58,078 73,493 Income from Investments 2.319 Total Income 60,397 75,388 EXPENDITURE Charitsble Activities Total Expenditure 58.169 NET (INCOME) FOR THE YEAR 2.228 9.138 RECONCILIATION OF FUNDS Total funds brought forward 108.368 99.230 TOTAL FUNDS CARRIED FORWARD 110.5 108.36 The statement of f￿all¢la1 activities includes all gains and losses recognised in the year. All income and expenditure derived from continuing activities. The notes forn] part of these financial statements. Page 6 HOLSTEIN NORTHERIN IRELAND BALANCE SHEET AT 31 DECEMBER 2024 31.12.24 31.12.23 Unrestricted Unrestricted Fund Fund Notes FIXED ASSETS Tangible assets 2,187 CURRENT ASSETS Stock Debtors Cash at bank and in hand 150 19,811 150 14,236 100 762 Total Current Assets 111295 115.148 LIABILITIES Creditors: Amounts falling due within one period 6.780 NET CURRENT ASSETS 108.410 108.368 TOTAL ASSETS LESS CURRENT LIABILITIES 110596 108 368 FUNDS Unrestricted funds 110 596 108.368 TOTAL FUNDS 110.59 8.368 The notes fomi part of these financial statements Page 7 HOLSTEIN NORTHERN IRELAND BALANCE SHEET- CONTINUED AT 31 DECEMBER 2024 The financial statements were approved by the Board of Trustees on 2nd April 2025 and were signed on its behalf by: Mr Gaston Walla - Trustee The notes fonn part of these financial statements Page 8 HOLSTEIN NORTHERN IRELAND NOTFS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Accounting Convention The financial statements have been prepared under the historical cost convention, and in accordance with the requirements of the Statements of Recommended Practice, Accounting and Reporting by Charities. Income recognition policy Income is recognised included in the accounts when the club is legally entitled to income and the amount can be measured reliably and receipt is considered probable. Income tax recoverable in relation to donations under Gift Aid is recognised at the time of the donation. Expenditure Expenditure is recognised on an accrual basis once there is a legal or constructive obligation to make a payment to a third paty. It is probably that settlement will be required and the amount of the obligation can be measured reliably. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services to its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Tangible Fixed Assets Tangible fixed assets are stated at cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimates useful life. Fixtures and fittings - 20 % straight line basis. Taxation The charity is exempt from corporation tax on its charitable activities Fund Accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted fLmds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted pu￿Oses. Further explanation of the nature and purpose of each fund is included in the notes to the financiaI statements. Page 9 HOLSTEIN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YFAR ENDED 31 DECEMBER 2024 2. INCOME 31.12.24 31.12.23 Donations & Sponsorship Subscriptions Commissions 35,593 5,733 41.079 5,295 Income from Investments 3. EXPENDITURE Charitable Activities 31.12.24 31.12.23 Secretarial Public Relations Depreciation of Fixtures & Fittings Accountancy Postage & Stationery Insurance Heat & Light Rent Travelling Telephone Advertising & Promotion Charitable Donations Bank Charges Meetings Show Costs Annual Dinner Events Young Breeders IT & Computer Costs Special Awards 2,489 3,420 547 1,000 1,403 682 1,466 3,600 281 1,241 988 2,500 177 2,631 750 7,328 20,754 1,170 1,046 3,574 3,494 1,000 1,374 724 1,806 3,600 5,067 1,127 1,192 300 120 1,444 1,100 5,421 26,021 3,078 922 4.886 66.25 Page 10 HOLSTEIN NORTHERN IRELAND NOTE.8 TO THF FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 4. NET INCOME Net income is stated after charging 31.12.24 31.12.23 Depreciation - owned assets 547 5. TANGIBLE FIXED ASSETS Fixtures & Fittings Totals At l January 2024 Additions At 31 December 2024 2,940 2,940 DEPRECIATION At l January 2024 Charge for the Year At 31 December 2024 2,940 547 2,940 547 NET BOOK VALUE At 31 Dcccmber 2024 At 31 December 2023 Page Il HOLSTEIN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 6. CREDrroRS: AMOUNfs FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Accruals 885 7. MOVEMENT IN FUNDS Net movement in funds At 1.1.24 At 31.12.24 Unrestricted funds General Fund 108.368 110.596 TOTAL FUNDS 108 368 Net movements in funds, included in the above are as follows: Income Expenditure Movement in funds Unrestricted funds General fund TOTAL FUNDS 397 Page 12 HOLSTEIN NORTHERN IRELAND DFTAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 coTr 31.12.24 31.12.23 Income from Investments Donations & Sponsorship Subscriptions Commissions 35,593 5,733 41,079 5,295 Total Income 397 EXPENDITURE Charitable Activities 31.12.24 31.12.23 Secretarial Public Relations Depreciation of Fixtures & Fittings Accountancy Postage & Stationery Insurance Heat & Light Rent Travelling Telephone Advertising & Promotion Charitable Donations Bank Charges Meetings Show Costs Annual Dinner Events Young Breeders IT & Computer Costs Special Awards 2,489 3,420 547 1,000 1,403 682 1,466 3,600 281 1,241 988 2,500 177 2,631 750 7,328 20,754 1,170 1,046 3,574 3,494 1,000 1,374 724 1,806 3,600 5,067 1,127 1,192 300 120 1,444 1,100 5,421 26,021 3,078 922 4.886 169 Net Income/ {Expenditure) for Year 228 Page 13