Luing Cattle Society Ltd 2024-2025 Table of Contents AGM Agenda Minutes of previous AGM - 6th February, 2025 Annual Report- Directors 10-15 Treasurerfs Report 15-16 st Accounts for the year ended 31 October 2025 17-22 Annual General Meeting To be held at Wallets Marts, Castle Douglas th 5 February, 2026 at 5pm AGENDA l) Welcome and apologies 2) Approval of the minutes of the Annual General Meeting held on Ih 6 February. 2025 3) Matters Arising from minutes not covered in the following agenda 4) Chairman's Report 5) Adoption of the Annual Accounts forthe financial year ended 31 October 2025 6) Re-appointment of the Accountants I Independent Examlner 7) Proposals a) To establish a Luing Young Breeders Programme b) To align the calf registration and census deadlines 8) Formal adoption of new members of Council Members of Council- nomlnees Ted Fox Andrew S Lyth Andrew McNee James Raper James Scott Pip Simpson 9) Transactlng any other competent buslness of the Society Luing Cattle Society Ltd ANNUAL GENERAL MEETING held on Thursday 6, February, 2025 at 5pm at Wallets Marts. Castle Douglas MINUTES Present Andrew Barr N. Anderson U. Hodge R. Cameron S. Little McGowan J. Pringle N. McGowan C. Symons Cakebread E. Mccall S. Renwi¢k Whiteford J. Maxwell C. Mccall Whiteford J. Norrie W. Graham M. Renwick B. Renwick A. Renwick A. McNee M. Thomson MacArthur E. Jones T. Fox S. Bakker P. Simpson F. MacNeil L. Robson G. Farron R. Thomson R. McNee F. Mcln A. Fox re Scrim eour G. Lawton S. Wood P. Bakker R. Wylie Thornborrow Hutchison In attendance.. Natalie Cormack l. Apologies and Welcome Apologies were received from Shane Cadzow, Angus Mccall. Finlay McGowan, Giles Henry, Rory Bell, Shona Mccorkindale, Neil Mccorkindale, Roy McNee, David MacArthur, David Stanners, Malcom Mccall. 2. Approval of the mlnules of the 58 Annual General Meetlng held on 8 Februaryi 2024 The Chairman acknowledged that there had been previous correspondence re8arding a statement that IA had tried to force onto last yearfs AGM AOCB item. The Chairman explained that Council hatl re-examined its procedures regarding the AGM, and found its processes to be correct. PS commented that he felt that IA'S statement should have been minuted. The Chairman replied that all items were discussed at the open forum held after the formal business of the AGM had been closed. Further, that all tOPlC5 were taken back to the first Council meeting following the AGM, and discussed and minuted there. RC commented that IA'S statement should have been minuted, and asked the meetlng not to approve the minutes until they were amended as such. The Chairman again explained that AGM agenda's do not have AOCB, and this has been verified by reviewing the LCS Memorandum and Article5 of association, and specific advice taken. NC further explained that the compromise in the last few year5 has been to include an item labelled AOCB (Any Other Competent Businessl, where the competent refers to items on the foregoing agenda,. Accounts, Elections etc. This had been explair)ed to IA at the 2024 AGM. and was minuted as such. TF asked if the paragraph was offensive, or why it could not be included. SW replied that it was not included because it was not competent business, and wt had been explained as such at the time, and then dealt with in the informal meeting following the AGM. RC commented that he felt that this approach wa5 not taking members, views seriously. NMCG reminded the meeting that the processes had been reviewed an(1 advice taken, and the matter of procedure is correct. There would be an opportunity to raise anything that members, wanted in the open forum to be held after the close of the AGM. The Chairman suggested that holding a vote on the adoption of the minutes would be the right way forward. CS commented that only those that had been present at the 2024 AGM should be eligible to vote. TF began to object, but acknowledged that he had not been present when questioned by DMCG. NMCG proposed that the minutes of the 2024 AGM be adopted, and this wa5 seconded by CS. All in favour.. 18; Those against- 7. The minutes were therefore adopted. 3. Matters arising from the mlnutes There were no matters arising from the minutes. 4. Chairman's Report The Chairman noted that this was the close of his two year tenure, and reported on an enjoyable period where he fe￿ that members were proactive and a more cohesive group. He reported that there had been lots of phone calls at the beginning of his term, and many were positive and helpful. Some had taken items of concern through the proper channels, and Council had responded to all correspondence. It had been disappointing not to have heard from some again through the period. The Chairman reported that he felt it a bit of a disadvantage living on Orkney due to the travel required to attend events. However, he had tried to attend as many as possible over the two years. He had not been able to attend the Open Day at Chat5WOrth, which he understood had beerb very successful. The Chairman thanked all those that supply cattle to make the Society displays work, and all have been outstanding. Special mention went to Mark Thomson for his effort with the stand at the Royal We15h. Having spoken to many members over the two years has rerterated the theme that 25 years ago the Society had been on its knees, with few cattle being reElStered and financially unstable. Now the breed is very definitely on the up and with money in the bank. Every type of Luing is needed to make the breed successful. The bickering is counterproductive, and everyone needs to pull together to support Council now. Items of concern should be brought to Council, and the Chairman thanked RC for bringing his concern to Council, which has been dealt with, and it would be good to think that others would do the same. No one person is bigger than the Society and it requires team work to make it all happen. The Chairman asked that members put faith in their Council and let them work for the bettem)ent of the Society and the breed. The Council is now very diverse, with some young breeders and 3 females and everyone has good experience to bring with theTn. The membership has come on board with the 5i8net initiative, which ts good to see, but we need more. The Chairman thanked CS for all his help an(1 contribution and acknowledged his appreciation. The Chairman also thanked the Secretary for her help, and problem solvinB skills with any problem. The last two years ha5 been a privilege, and is great to see the growth in the Society over this time. 5. Recelvlng and adoptlng the Annual Accounts for the financlal year ended 31" October, 2024 There having been no questions, the Annual accounts were proposed for approval by Andrew Barr and seconded by Billy Renwick. RC asked about the increase in postage and stationery, and NC replied that this is almost entirely postage, as the postage rates have increased, and the Society is still posting out too many items that coukl be electronically distributed. 6. Rewappointment of the Accountants and Independent Examiner Neil McGowan proposed R.A. Clement & Co of Kilmarnock be re-appointed and this was seconded by MarkThomson. 7. Formal adoptlon of new Members of Council al The members of Council who stood down at thi5 point were: Ordinary Elected Members.. Andrew Barr, Billy Graham and Neil McGowan The Chaim]an thanked all three for their sacrifice of time and help over the past 3 years, which has been much appreciated. Three nominalions were recetved laces Piefrr Bakker Jo Fewster Graham Cakebread or ihree places, so no election was required.. The Chairman thanked all 3 for standing, and welcomed them onto Council. b} Elertion of Office Bearers Chairnian - Stewart Wood proposed Ewan Mccall and this was seconded by Robert McNee Vice Chairman - Ewan Mccall proposed Janet Pringle and this was seconded by Finlay Mclntyre. Ewan Mccall thanked Stewart Wood for his huge sacrifice of time and Counsel over his tenure as Chairnian and presented him with a token of appreciation from the Society. 8. Transacting any other competent business of the society There being no further competent items put forward for discussion the meeting was closed at 5.28pm. Luing Cattle Society Limited st Annual Report for the Year Ended 31 October 2025 The trustees present their annual report and the financial statements for the year ended 31st October 2025. Reference and Administrative Details Charity Number: Company Number.. Registered Office.. SC006667 42993 Pedigree House 6 Kings Place, Perth PH2 8AD REPORTING ACCOUNTANTS R.A. Clement & Co Chartered Certified Accountants I Seaford Street Kilmarnock KAI 2BZ Directors and Trustees The directors of the companywho served during the year ended 315t October 2024 are listed as follows: The Society retains contractors on both a voluntary and remunerated basis, and at 31" October 2025 they were as follows.. CHAIRMAN Stewart Wood BREED DEVELOPMENT OFFICERS Neil McGowan VICE CHAIRMAN Ewan Mccall Robert McNee DIREcfoRS Neil McGowan lex offlclol FIELDSMAN Andrew Barr SOCIETY ADMINISTRATION Charles Symons Pedigree Cattle Services 6 Kings Place, Perth PH2 8AD Billy Graham Janet Pringle Billy Neilson Robert McNee INVESTMENT ADVISORS Mclnroy & Wood Ltd Easter Alderston Haddington East Lothian EH413SF Finlay Mclntyre Rebecca Thomson Alastair MacArthur Stephen Little BANKERS Bank of Scotland NOTES 'Retires at AGM and is not eligible for rtrelection for l year STRucfuRE, GOVERNANCE AND MANAGEMENT Governing Document The company is limited by guarantee and a registered charity governed by its Memorandum and th Articles of Association dated 10 January 1966, and amended by special resolution in February 2012. Charitable Status The Society is a Scottish Registered Charity governed by the Office of the Scottish Charities Register IOSCRI, and its number is SC006667. Appointment of Trustees The business of the Society is managed by the board of trustees (Council of Mar)agementl which comprises 12 members. The appointment of trustees is consistent with the Articles of Association and the Rules, Regulations and Bye-Laws. All trustees are prepared to take a full and active part in the operation of the business/charity and have responsibilities first and foremost to the businesslcharity, secondly the staff and thirdly the membership, this being a legal obligation. Members shall serve a three year term of Offi￿ commencing on the date of the General Meeting of the Society at which the announcement of their election to membership of the Council is made, following a membership postal election lif necessary). A retiring member is not eligible for re-election for a period of I year. Any f ully validated member is eligible for nomination to Council through the nomination application process. Organlsational Structure The board of trustees administers the charity and meets at least every 4 months. Sub Committee meetings are facilitated onllne, where necessary. The office bearers of the board of trustees are Chairman. Vice Chairman, and Immediate Pasi Chairman. There is provision for a maximum of 12 other trustees, although convention has been that the maximum is 9, out with the office bearers. In addition, the Secretary and Fieldsman attend meetings but have no voting power. There are 5 sub-committees which deal with the day-to-day detail and each of these make recommendations to the Council for consideration based on their assessment and deliberation. The sub committees and their member5 for 2024-2025 are as follows.. Breed Development Promotion, Social Media and Events Remuneration Finance Governance Robert McNee Ichl Janet Pringle Janet Pringle (Chl Stewart Wood Billy Neilson Graham Cakebread Ewan Mccal Pieter Bakker janet Pringle Stewart Wood Finlay Mclntyre Jo Marsden Alastair MacArthur Ewan Mccall Ewan Mccall janet Prlngle Pieter Bakker Graham Cakebread Ewan Mccall Finlay Mclntyre Alastair MarArthur Stephen Little Stephen Little Stephen Little Alastair MacArthur Rebecca Thomson Rebecca Thomson Alastalr MatArthur Objectlves The Society's principle objective is to advance the heritage and culture of Scotland bv safeguarding and maintaining the integrity of the breed and pedigree of cattle known as Luing by.. l. Fostering and promoting the breeding of Luing cattle in in the United Kingdom of Great Britain and Ireland or elsewhere and 2. Promotln& applying and facilitating the advancement of science in all aspects of breeding management and husbandry of Luing cattle. Alms The main aspects of the Society's work are: The maintenance of an accurate herdbook and the provision of herdbook services to members The management of breed development programmes Management of sales held urider the au5pice5 of the Society Provide an objective inspection programme for all male5 and females forward for Societv sales Provide an objective dam classification programme for all dams of males sold at Societv sale The promotion of Luing cattle to all potential markets Review of Development, Actlvltles and Achievements during the year The day to day operation of the Charity is handled by the contractor, Pedigree Cattle Services Ltd. in collaboration w6th the Fieldsman and the Chairpersons. This entails dealing with all enquiries, managing council meetings and collating minutes. maintenance of all financial record5, deal with registrations, maintaining and updating the database. process sales entries and produce catalogues, edit and circulate an Annual Journal and keep members informed throughout the year by means of Newsletters. Breed Promotion Traditional promotional activities have continued this year, and a full schedule of activities took place. Breed promotional stands were held at all the regular events and additionally at Beeffech in Aberdeenshire in May. The promotions and events committee oversee a programme of advertisin8 and promotion ensuring a mix of social media, electronic and more traditional formats. Breed Improvement A Dam Classification Scheme, unique to the Luing Cattle Society, has been in operation for more than 15 years. All bulls presented for inspection prior to entry into Society Sales have their dams classified with results displayed at the sale. Bulls are only eligible for entry to a Society Sale if their dam scores more than the breed standard in each individual trait. Estimated Breeding Values IEBV51 have been developed by Signet and the Council encourage all members to participate, especially now that the Society is funding membership on 2-year trial. The Council has embarked on a voluntary program to DNA profile the service sire population within the breed. Since 2020 member5 have been invited to submit tail hairs from sires in use in the 2020, 2021. 2022 and now 2023 seasons. In addition, samples have been taken from 2019, 2020, 2021, 2022 and 2023 born males which have been nominated for inspection. This had been 100% subsidised by LCS for 2020, with a budgeted investment of £6000 in the first year. Council agreed additional funding for 2021-22, continuing to 100% f und older stock bulls and up to 4 young bulls per herd to cover profilin& sire verification and myostatin testing. From January 2023 onwards, Council has withdrawn funding for all DNA analysis and f rom this date forward, the cost of all analysis is the responsibility of the breeder. To date. nearly 2000 sample5 have been submitted, reported and updated within the Grassroots database. At the time of writing the Council continues to monitor Myostatin result5, which are reported on an individual animal basis on Grassroots. The Council's current position remains one of test and inform, without any restrictions on particular genotypes. Risk Management The major risks to which the bu5ine551charity is eKposed have been recorded and assessed, particularly with reference to the operation and finances of the Society and all risks attached to promotional activities. The Office Bearers are sat15fied that all possible steps are taken to mitigate exposure to these risks. Membership New Members Ifulll Resigned +22 Complimentary Membership Total Membership in all categories +17 28 303 Registwations There were 235012265 in 20231 Luing heifers, born in 2024, registered during the 2024-year, 375 13671 Sirn-Luing heifers and 25713071 Lsjing bulls. The 14611501 herds registering calves had a total of 752970921 registered Luing cows, 2313124631 bulling heifers and 2295128101 yearling heifers, 8iving a total of 14,414114,6301 Luing females. Main Re ister 2023 Herdbook Activity Full Registrations Birth notifications Sim- LuSngs Registe Reglste TOTAL Females Males Castrates 2350 257 244 1080 866 375 118 22 3109 1337 2607 2190 375 22 5312 2024 146 7529 2313 2295 2350 375 14414 2023 150 7092 2463 2810 2265 367 14630 2022 151 7190 2238 2377 2433 295 14238 2021 152 7014 2287 2445 2298 349 14044 2020 150 6676 1315 2295 2215 432 12501 2019 133 6086 1377 1547 2158 370 11168 No. Herds registering calves Luing Cows Luing bulling herfers Luing yearling heifers Luing Heifer Calves Sim-Luings Registered Total Lulng Females Grand Total - Females 14789 14997 14533 14393 12933 11538 Sales Luing sales continue to demonstrate strong performance in both pedigree and commercial sectors in the most recently collated period. Total Society sales turnover during the 2025 sales calendar exceeded £2 million. In total, Society Sales traded over 700 females over the year and there were 29 young bulls sold through Society sales, to a top of £25,200. and an average of £9681. Field5person Activities Demand for inspection of bulls destined for breedin& and classification of their dams, has increased by more than 200% over the Fieldsman's tenure. The biEgest rises have been seen over the last 5 years,. there being 110 in 2025. The geographical location of holding5 requiring inspection visit5 has increased alongside the number, with all four countrie5 Wlthin the UK represented, including the islands. Commendation should be awarded to the architectls) of this SV5tem, as it is undoubtedly a USP for the Luing breed and its membership. Farm to farm sales have been steady throughout the year, with an unprecedented demand for Set up of new herds in all parts of the country. Helping new members, often including visiting them to discuss various possibilities, continues to fill a significant amount of the time spent on members, behalf. There is interest f rom all over the UK, with a particular emphasis in the north of England, which is a firm foundation to continue to build on. Statement of Dlrectors, Responsibilitles Company Law requires the Directors to prepare Financial Statements for each financial year which give a true and fair view of the state of affalrs of the Society and of the profit or loss of the Society for that period. In preparing those Financial Statements, the Directors are required to: selett suitable accounting policies and then apply them consistentlv. make judgements and estimates that are reasonable and prudent. prepare the Financial Statements on the going concern basis unless it is inappropriate. The Directors are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the Society and to enable them to ensure that the Financial Statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the Society and hence for taking reasonable steps for the prevention and detection of f raud and other irregularities. In addition to the financial responsibilities. Directors are also required to comply with a number of other responsibilities and behaviours. These responsibilities are detailed in a Directors, Handbook which has been distributed to all members of the Council and is also available to view at www.luin cattle50Clet .co.uk ublications. The Directors, Handbook a150 provides a framework for both non compliance and grievance. This resource has been developed for the Luing Cattle Society Ltd, to industry standard, by Gail Ellis of Greenburn Ltd. Treasurerfs Report Membership revenues remain stable, alongside the other core income streams for the Society over the period 202412025.There continue to be an increasing interest in Luing cows, and volume of annual sales remains high, together with a good demand for both males and females at Society Sales. The number of herds registering calves has stabilised. These accounts represent a full picture of accruals at the year end. Overall, total incoming resources have increased over the period. which is pleasin& given the turbulence in the agricultural industry. The investment fund had a flatter year. The flnance committee continues to review the portfollo and remains confident that the vehicle in which the investments are held is providing good value, and is mindful that investment income is for the long term. The fixed term Savings account of £25,C￿0 will mature in December 2025. This will require reinvestment at this point to contlnue. Operating expenditure remained relatively Static on the year, which was a pleasing result, given the continued measures put in place to control expenditure. amid the highest inflationary period for some years. Promotions and events, and associated expenses remain the biggest area of cost increases, alongside increases in postage. The net spend on DNA analysis has reduced over the year due to the change in policy, although there are still some older males coming through which are previously untested. Going forward. the budget for 25-26 shows a marginal deficit position, and encompasses the ambitions of maintaining full scale promotional activities and support of an increasing membership. ON BEHALF OF THE BOARD OF DIRECTORS Signed.. NCII INDEPENDENT F.XfvlMINFR'S RFPORT TO THE NIF.MBERS ON THE ACCOUNTS OF THE LUING CArrLE SOCIETY LIMII'LD I report on tlie Accoiints of Thc Luing C