Charity registration number SC007015 Iscotlandl
AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

AYRSHIRE CAThLE SOCIETY OF GREAT BRITAIN & IRELAND
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Charity number (Scotlandl
SC007015
R9gl$tgrgd offl¢e
Auditor
Azets Audit Services
Titanium 1
King's Inch Place
Renfrewshire
Scotland
PA4 8WF
SollGltors
Lockharts Law
12 Beresford Terrace
Ayr
Ayrshire
United Kingdom
KA7 2EG

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
CONTENTS
Page
Trustees, report
Slalement of trustees, responsibilities
Independent auditovs report
Group statement of financial activities
Charity slalement of financial activities
Group balan￿ sheet
Charity balance sheet
Group statement of cash flows
12-13
Charity slalement of cash flows
14-15
Notes lo the financial ststemenls
16-33

AYRSHIRE CAThLE SOCIETY OF GREAT BRITAIN & IRELAND
TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORTI
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report and financial statements for the year ended 31 De￿mber 2024.
The financial slalements have been prepared in accordance with the accounting policies sel out in note 1 to
the financial stslemenls and comply with the Charity's goveming document, the Charities and Trustee
Investment (Scotlandl Act 2005, the Charities Accounts (Scotlandl Regulations 2008 las amendedl and
"Accounting and Reporting by Charities". Statement of Recommended Practi￿ applicable lo chaiilies
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021° las amended for accounting periods commencing from 1 January 20161.
Objectives and activities
The Ayrshire Calde Society of Great Britain and Ireland continues to pursue the aims and objectives as laid
out in its constitution. "To maintain the purity of the breed known as 'Ayrshires and lo foster, promote and
improve the breeding of Ayrshire callle in the United Kingdom of Great Britain and Northern Ireland and the
Republic of Ireland.
To collect, verify, register and preserve the pedigrees of the said cattle and other useful information relating
lo them whilst maintaining standards of production and conformation. To promote exhibitions, shows and
events.
To receive subscriptions and other payments in return for publications and, or services provided by the
society.
These aims and objectives shall be managed by a Council to be elected by membership in General Meeting.
Councilmen to be elected on the basis of the odd number Dislricls in one year and the even number Districts
the next. Each elected Councilman to serve a period of two years and be eligible to serve for a further two
years if r&elected.
The World Ayrshire Federation Conference took place as part of the Society's activities, standing in Contrast
lo the usual Annual Conference.
Thè Office Bearers of the society are Patron, Honorary Presidents, a President, Presidenl-Elecl, Junior
President-Ele¢t and Business Coordinator.
There have been no material changes in the society objectives since the last report.
Achievements and perfomiance
Financial review
The society's investment policy is to maximise total returns through the use of professional fund managers.
Investment PDrtFolio valuations increased in line with the market lo the end of December 2024.
No material Ljncertainties related to events or conditions that may cast significant doubt abDUt the ability of
the charity lo continue as a going concem have been identified by the Iruslees.

AYRSHIRE CAThLE SOCIETY OF GREAT BRITAIN & IRELAND
TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORTI
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, gov&rnancg and management
The charity is Controlled by il's governing document, a deed of trust. and constitutes an unincorporated charity.
Thè Trustees who served dLJrin
the ear and u
to the date of si
nature ol the financial statements were".
Thè Trustees, report was approved by the Board of Trustees.
Trustee
Dale." 0410212026

AYRSHIRE CArrLE SOCIETY OF GREAT BRITAIN & IRELAND
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting
Praclicel.
The law applicable to chsrities in Scotland requires the trustees lo preparè financial statements for each financial
year which give a true and fair view of the stsle of affairs of the Trust and of the lolal income and lotsl
expenditure of the Trust 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 judgements and estimates that are reasonable and prudent., and
state whether applicable accounting standards have been followed, subject to any material departures discjosed
and explained in the financial stslemenls., and
prepare the financial statements on the going concem basis unless il is inappropriate to presume that the
charity will continue in operation.
The trustees are responsible lor keeping adequate accounting records that disclose with reasonable accuracy al
any time the financial position of the charity and enable them to ensure that the financial slatements comply with
the Charities and Trustee Investment (Scollandl Act 2005, the Charities Accounts (Scollandl Regulations 2006
las amended) 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 l￿egUlarl11es.

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS AND TRUSTEES OF AYRSHIRE CAThLE SOCIETY OF GREAT BRITAIN & IRELAND
Opinion
We have audited the financial stslemenls of Ayrshire Cattle Society of Great Britain & Ireland (the parent charity)
and its subsidiary (the group) for the year ended 31 December 2024 which comprise the consolidated and parent
charity slalemenl of financial activities, the consolidated and parent charity balance sheet, the consolidated and
parent charity slalement of cash flows and notes lo the financial stslemenls, including significant accounting
policies. The financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards, Including Financial Reporting Standard 102 The Financial Reporting Standard
applicable in the UK and Republic of Ireland (United Kingdom Generally A¢￿pted Accounting Pradicel.
In our opinion, the financial stslemenls..
give a true and fair view of the state of the group's and the parent charity's affairs as at 31 December 2024
and of the group's and parent charity's income and expenditure for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿,.
and
have been prepared in accordance with the Charities and Trustee Investment Iscouandl Act 2005 and
regulation 6 and 8 of the Charities Accounts (Scotlandl RegLJlations 2006 las amended).
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Audito¢s responsibilities for the audit
of the financial statements section of our report. We are independent of the charity in accordance wth the ethical
requirements that are relevant lo our audit of the financial slalements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concern
In auditing the financial $18temenls, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial stslemenls is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating lo events or
conditions that, individually or collectively. may cast significant doubt on the charity's abilily to continue as a
going concern for a period of al least twelve months from when the financial statements are aulhorised for issue.
Our responsibilities and the responsibilities of the trustees wth respect to going concern are described in the
relevant sèctions of this report.
other infomiation
The other information comprises the information induded in the annual report other than the financial stslements
and our auditor's report thereon. The Iru5tees are responsible for the other Information contained within the
annual report. Our opinion on the financial stslemenls does not cover the other information and we do not
express any fomi of assurance conclusion Ihereon. Our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsislenl with the financial statements or our
knowledge obtained in the course of the audit. or otherwise appears to be materially misstated. If we identify such
material inconsistencies or apparent material misslatemenls, we are required lo determine whether this gives rise
lo a material misstslemenl in the financial slalements themselves. If. based on the work we have performed, we
conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing lo report in this regard.

AYRSHIRE CAThLE SOCIETY OF GREAT BRITAIN & IRELAND
INDEPENDENT AUDITOR'S REPORT ICONTINUED}
TO THE MEMBERS AND TRUSTEES OF AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
Matters on whlch we are requlred to report by exceptlon
Vve have nothing to report in respect of the following matters in relation to which the Charities Accounts
(Scollandl Regulations 2006 las amendedl require us lo report lo you if, in our opinion..
the information given in the fi'nancial stslemenls is inconsislenl in any material respect with the trustees,
report., or
proper accounting records have not been kept., or
the financial statements are not in agreement with the accounting records,. or
certain disclosures of trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit., or
Responslbllltles of trustees
As explained more fully in the statement of trustees, responsibilities, the trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a Itue and fair view, and for such
internal control as the trustees determine is necessary to enable the preparation of financial statements that are
free from material misstatement, whether due to fraud Dr error. In preparing the financial statements, the trustees
are responsible for assessing the Charity's ability lo continue as a going concern, disclosing, as applicable,
matters related lo going concern and using the going concern basis of accounting unless the trustees either
intend lo liquidate the charitable company or to cease operations, or have no realistic alternative bul lo do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 4411llcl of the Charities and Trustee Investment (Scollandl
Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misslatemenl, whether due lo fraud or error, and lo issue an auditorfs report that includes our
opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in
accordance with ISAS IUKI wll always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material If, individually or in the aggregate, they could reasonably be
expected lo influence the economi¢ decisions of users tsken on the basis of these financial statements.

AYRSHIRE CAThLE SOCIETY OF GREAT BRITAIN & IRELAND
INDEPENDENT AUDITOR'S REPORT ICONTINUED}
TO THE MEMBERS AND TRUSTEES OF AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
A further description of our responsibilities is available on the Financial Reporting Council's website al..
https'.Ilwww.fr¢.org.uklaudilorsresponsibililies. This description forms part of our auditorfs report_
Ext9nl lo whl¢h thg audlt wa$ ¢on$ldgrgd Capablg of dgts¢tlng Irrggularlt19$, Includlng fraud
Irregularities, including fraud, are Inslanees of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, ouuined above and on the Financial Reporting Council's website, lo detect
material misstalemenls in respect of irregularities, including fraud.
We obtsin and update our understanding of the entity, its activities, its control environment, and likely future
developments, including in relation lo the legal and regulatory framework applicable and how the entity is
complying with that framework. Based on this understanding, we identify and assess the risks of material
misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures
responsive lo those risks, and obtain audit evidence that 15 sufficient and appropriate lo provide a basis for our
opinion. This indudes consideration of the risk of acts by the enlily that were contrary lo applicable laws and
regulations, including fraud.
In response to the risk of irregularities and non-coM￿lan￿ with laws and regulations, induding fraud, we
designed procedures which included..
Enquiry of management and those charged wth governance around actual and potential liligalion and claims
as well as actual. suspected and alleged fraud.,
Reviewing minutes of meetings of those charged with governance.,
Assessing the exlenl of compliance wth the laws and regulations considered to have a direct material effe
on the financial slalements or the operations of the entity through enquiry and inspection.,
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance
th applicable laws and regulations,.
Perfomiing audit work Over the risk of management bias and override of controls, including testing of journal
entries and other adjuslmenls for appropriateness, evaluating the business rationale of significant
transactions outside the normal course of business and reviewing accounting estimates for indicators of
potential bias.
Because of the inherent limitations of an audit, there is a risk that we wll not delecl all irregularities, induding
those leading to a material misstatement in the financial statements or nDn-compliance with regulation. This risk
increases the more that compliance wth a law or regulation is removed from the events and transactions
reflected in the financial stslemenls, as we will be less likely to become aware of instsnces of no￿￿mplIance.
The risk of not detecting a material misslalement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresenlalions, or the override of internal
control.

AYRSHIRE CAThLE SOCIETY OF GREAT BRITAIN & IRELAND
INDEPENDENT AUDITOR'S REPORT ICONTINUEDI
TO THE MEMBERS AND TRUSTEES OF AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
Other matters which we are required to address
In the previous accounting year, the company was enlilled lo audit exemption under se¢lion 477 of the
Companies Act 2006. Accordingly, the prior year figures were unaudited.
Use of our report
This report is made solely lo the charity's members, as a body. in accordance with Chapter 3 of part 16 of the
Companies Act 2006, and lo the charity's trustees, as a body, in accordance wth regulation of the Charities
Accounts Iscotlandl Regulations 2006 las amended). Our audit work has been undertaken so that we might
state to the charity's members, as a body, the matters we are required to state to them in an auditorfs report
and for no other purpose. To the fullest exlenl petmitted by law, we do not accept or assume responsibility to
anyone other than the charity, charity's members as a body, and the charity's trustees as a body. for our audit
work, for this report, or for the opinions we have fomied.
Senior Statutory Auditor
For and on behalf of Azets Audlt Servlces
0510212026
Chartered Accountants
Statutory Auditor
Titanium 1
King's Inch Place
Renfrewshire
Scotland
PA4 8WF
Azets is eligible for appointment as auditor of the charity by virtue of ils eligibility for appointment as auditor of a
company under section 1212 of the Companies Act 2006.

AYRSHIRE CAThLE SOCIETY OF GREAT BRITAIN & IRELAND
GROUP STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEAIBER 2024
Unrestricted
Restricted
Total
Totsl
funds
2024
funds
2024
2024
2023
Notes
Income from:
Donations and legacies
Charitsble activities
Other trading acts"vities
Investments
30,353
68,689
371,811
45.391
30,353
68,689
371,811
47,743
32,907
70,919
71,649
58.950
2,352
Commehvial trading activities
Cattle Services IAyrl Limited
190,117
190,117
207,619
Total income
706.361
2,352
708,713
442,044
Ex
endlture on:
Raising funds
Charitable activities
Other
Commepvial trading operations
Cattle Services IAyrl Limited
355,879
158.806
15,162
90
355,969
159,303
15,162
95,680
188.092
31,625
497
167,591
167,591
176,571
Total expenditure
697.438
587
698,025
491.968
N91 galnsllloss9sI on Invèstmgnts
343
3,081
3,424
2,383
Ngt Income for the perlodl
Net movement in funds
21
9,266
14,112
147,541)
Fund balances al 1 January 2023
959,784
66,920
1,026,704
1,074,245
Fund balances at 31 December 2024
969,050
71,786
1,040,816
1,026,704
The statement of financial activities includes all gains and losses recognised in the period.
All income and expenditure derive from continuing activities.

AYRSHIRE CAThLE SOCIETY OF GREAT BRITAIN & IRELAND
CHARITY STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
Restricted
Total
Total
funds
funds
2024
2024
2024
2023
Notes
Income from-
Donations and legacies
Charitable activities
Other trading activities
Investments
40,044
68,728
383,487
45,391
40,044
68,728
383,487
47,743
55,619
70,919
76,899
58,975
2,352
Totsl income
537,650
2,352
540,002
262,412
Ex
endlture
Raising funds
Charitable activities
Other
355,879
158,806
15,162
90
497
355.969
159,303
15,162
95,680
188,092
31,625
Totsl expenditure
529,847
587
530,434
315,397
Net galnslllossesl on Investments
343
3.081
3,424
2,383
Net income for the Periodl
Net movamant in funds
21
8,146
4,846
12,992
150,6021
Fund balan￿S at 1 January 2023
931,060
66.920
997,980 1,048,582
Fund balances at 31 December 2024
939,206
71,766
1,010,972
997,980
The statement of financial activities includes all gains and losses recognised in the period.
All income and expenditure derive from continuing activities.

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
GROUP BALANCE SHEET
AS A T31 DECEMBER 2024
2024
2023
Notes
Flxed assets
Tangible assets
Investment propety
Investments
13
2.596
625,000
282,085
909,681
2,642
625,000
278,442
906,084
14
Current assets
Stocks
16
133,817
131,035
52,413
317,065
95.374
170,880
157,846
424,100
Debtors
Cash al bank and in hand
17
Creditors- amounts falling due within one year
18
1185,9301
1303,4801
Net current assets
131,135
120,620
Net assets
1,040,816
1,026,704
Income funds
Restricted
Investments
Cash al bank and in hand
General ￿$tricted funds movement
20
74,011
3,783
16,0281
70,879
1,903
15,8621
71,766
969.050
68,920
959,784
Unrestricted funds
21
1,040,816
1,026,704
The financial statements were approved and signed by the trustees and authorised for issue on 04102r2026
Trustèè
io

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
CHARITY BALANCE SHEET
AS A T 31 DECEMBER 2024
2024
2023
Notes
Fixed assets
Tangible assets
Investment Propety
Investments
13
14
15
2,596
625,000
367,085
2,642
625.000
363,442
994,681
991,084
Current assets
stock
16
17
2,528
40,734
43,213
1,957
95,090
141,739
Debtors
Cash al bank and in hand
86,475
238,786
Credltors.. amounts falllng due wlthln one year
18
170,1841
1231,8901
Net current assetsllliabilitiesl
16,291
6,896
Total assets less current Ilabllltlesl net assets
1,010,972
997.980
In¢omg fund$
Restrfcted
Investments
20
74,011
3,783
16,0281
70,879
1,903
{5,8621
Cash al bank and in hand
General restricted funds movement
71,766
939,206
66,920
931,060
Unrestrlcted funds
21
1,010,972
997,980
The finJn¢ial slalemenls were approved by the Trustees on
0410212026
Trustee
li

AYRSHIRE CAThLE SOCIETY OF GREAT BRITAIN & IRELAND
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Cash flows from operating activities
Cash generated from operations
24
1152,5261
33,918
Investlng a￿l¥It1&S
Purchase of tangible fixed assets
Purchase of investments
Proceeds from disposal of investment
Investment Income
14311
14,8281
4,607
47,743
132,2731
29.588
58.950
Ng1 cash us&d In Investlng a¢tlvltle$
47,093
56,265
N91 ¢a$h u$gd In financlng a¢llvltlg$
Net increase in cash and cash equivalents
1105,4331
90,183
Cash and cash equivalents at beginning of year
157,846
67,663
Cash and cash oquivalents at end of year
52.413
157.846
12

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
GROUP STATEMENT OF CASH FLOWS
ANAL YSIS OF CHANGES IN NET FUNDS
FOR THE YEAR ENDED 31 DECEMBER 2024
At 1 January
2024
At 31 December
2024
Cash flows
Cash and Cash equivalents
Cash
157,846
1105,4331
52,413
Total
157,846
1105,4331
52,413
13

AYRSHIRE CAThLE SOCIETY OF GREAT BRITAIN & IRELAND
CHARITY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Cash flows from operatlng actlvltles
Cash generated from operations
24
1145,6191
26.734
Investing activities
Purchase of tangible fixed assets
Purchase of investments
14311
14,8261
4,607
47,743
132,273)
29,588
58,975
Proceeds from disposal of investment
Investment income received
Net cash used In Investlng actlvltles
47,093
56,290
Net cash used in financing activities
Net increase in cash and cash 8quival&nts
198,5261
83,024
Cash and cash equivalents at beginning of Period
141.739
58.715
Cash and cash equlvalents at end of Perlod
43.213
141.739
14

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
CHARITY STATEMENT OF CASH FLOWS
ANAL YSIS OF CHANGES IN NET FUNDS
FOR THE YEAR ENDED 31 DECEMBER 2024
At 1 January
2024
At 31 December
2024
Cash flows
Cash and cash equivalents
Cash
141,739
198,5261
43,213
Total
141,739
198,5261
43,213
15

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charity infomiation
Ayrshire Cattle Society of Great Britain & Ireland is a cat￿e society.
The group consists of Ayrshire Cattle Society of Great Britain & Ireland and its subsidiary.
Accounting convention
The financial slalements have been prepared in accordance with the charity's memorandum
and articles, the Charities and Trustee Investment (Scollandl Act 2005, the Companies Ael
2006, Charities Accounts Iscollandl Regulations 2006 las ammendedl, FRS 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102,1 and the
Charities SORP "Accounting and Reporting by Charities.. 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 IFRS 1021" (effective 1 January 20191.
The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the group.
Monetary amounts in these financial statements are rounded lo the nearest £.
The financial statements have been prepared under the historical cost convention, modified to
include investment properties and certain financial instruments at fair value.
Basis of consolidation
The consolidated financial statements include the results of Ayrshire Cattle Society of Great
Britain & Ireland and all of ils 1000/0 owned subsidiary Cattle Servi￿$ (Ayrl Limited.
1A
Golng concem
At the lime of approving the financial slatemenls, the trustees have a reasonable expectation
that the group has adequate resources lo continue in operational existence for the foreseeable
future. Thus the trustees continue lo adopt the going conTrrn basis of accounting In preparing
the financial statements.
16

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their
charitable objectives.
Restricted funds are subject lo specific conditions by donors as to how they may be used. The
purposes and uses of the restricted funds are sel out in the notes lo the financial statements.
Income
Income is recognised when the group is legally entided to it after any performance conditions
have been mel, the amounts can be measured reliably, and il is probable that income will be
re￿ived.
Income from charitable activities are recognised in the period in which the services are
provided.
Donations received in the year are charged to the Statement of Financial Activities when the
group becomes entilled lo the income, its receipt is probable and the amount can be measured
reliably. Donated goods and serVI￿S are brought into the accounts as income at their expected
cost, or a reasonable estimate thereof.
Income from other trading activities is recognised when the goods or services are provided and
income is received.
Interest and investment income is included within the Stslement of Financial Activities when
receivable by the group.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit lo a third paty, il is probable that a transfer of economic benefits will be required in
settlement, and the amount of the obligation can be measured reliably.
Costs of raising funds are those associated with the income from sources other than from
undertaking charitable activities. Costs direcdy attributed to the running of the trading activities
are also included under this heading.
Charitable expenditure comprises those costs incurred by the group in the delivery of its
charitable activities and services.
Governance costs include the costs associated wth meeting the constitutional and statutory
requirements of the group and include costs linked to the strategic management of the group.
Expenses of the legal, auditing and accountancy advisers are accounted for under this heading.
17

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Tangible fixed assets
Tangible fixed assets are initially measured al cost and subsequenuy measured at cost or
valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as lo write off the cost or valuation of assets less their residual
values over their useful lives on the following bases..
Plant and equipment
200/0 on cost, straight line over 3 years
FixtLJre and fittings
100/0 on reducing balance
Computers
20°A on cost
The gain or loss arising on the disposal of an asset is detemined as the difference between the
sale prO￿edS and the carrying value of the asset, and is recognised in the statement of
financial activities.
Items of expenditure costing less than £250 are not eapilalised.
Investment propertles
Investment property, which is propety held to earn rentals andlor for capital appreciation, is
initially recognised al cost, which includes the purchase cost and any direcuy attributable
expenditure. Subsequently it Is measured al fair value al the reporting end dale. Any aggregate
surplus or deficit arising from changes in market value is transferred to unrestricted funds.
1.10
Fixed asset investments
The society invests in shares and securities on recognised stock exchanges. Investment
descisions are made by the society's Investment Manager, Smith & Williamson.
Fixed asset investments are initially measured al transaction price excluding transaction costs,
and are subsequently measured at fair value at each reporting dale. Changes In fair value are
recognised in nel incomellexpenditurel for the year. Transaction costs are expenses incurred.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial
and operating policies of the entity so as to obtain benefits from its aclivilies.
Investments in subsidiaries are included al cost. No adjustment lo market value is included in
the financial statements for the subsidiaries.
Stocks
Stocks are slated at the lower of cost and estimated selling price less costs to complete and
sell after making due allowances for obsolete and slow moving items.
1.12
Debtors
Short term debtors are measured al transaction price, less any impairment. Loans receivable
are measured initially at fair value, net of transaction costs, and are measured subsequently al
amortised cost using the effective interest method, less any impairment.
1.13
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-
term liquid investments with original malurilies of three months or less.
18

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1.14
Credltors
Creditors are recognised where the group has a present obligation resulting from a past event
that will probably result in the transfer of funds lo a third paty and the amount due lo settle the
obligation can be measured or estimated reliably. Creditors are nomial￿ recognised at their
settlement amount after allowing for any trade discounts due.
1.15
Financial instruments
The group only has financial assets and financial liabilities of a kind that qualify as basic financial
inslrumenls. Basic finan¢ial instruments are initially recognised al Iransadion value and
subsequently measured at their setuemenl value.
1.16
Taxation
There is no liability to taxation within the parent charity as the charity is exempt under sections
478489 of the Corporation Taxation Act 2010.
1.17
Retirement benefits
The group operates a defined contribution pension scheme. Contributions are charged to the
Statement of Financial Activities as they become payable in accordance with the rules of the
scheme.
1.18
Impalmient of flxed assets
At each reporting end dale, the group reviews the carrying amounts of ils tsngible assets to
determine whether there is any indication that those assets have suffered an impairment loss. If
any such indication exists, the recoverable amount of the asset is estimated in order to
determine the extent of the impairment loss lif any).
Crltlcal accountlng estlmates and judgements
In the application of the group's accounting policies, the Iruslees are required to make
judgements, eslimales and assumptions about the carrying amount of assets and liabilities that
are not readily apparent from other sources. The estimates and associated assumptions are
based on historical experience and other factors that are considered lo be relevanL Actual
results may differ from these estimates.
The estimates and undedying assumptions are reviewed on an ongoing basis. Revisions to
accounting eslimales are recognised in the period in which the estimate is revised where the
revision affects only that period, or in the period of the revision and future periods where the
revision affects both current and future periods.
The charity's investment propertie3 are measured at fair value. The trustees have estimated fair
value based on market conditions and comparable information. Actual values realised may
differ from those reported.
19

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
3 Donations and legacies
Unrestrlcted Unrestrlcted
funds
funds
2024
2023
Group
Subscriptions
World Federation Contribution
Sundry income
24,621
2,515
3,217
22,577
2,432
7,898
30,353
32,907
Donations and legacies
Unrestricted Unrestricted
funds
funds
2024
2023
Charity
Subscriptions
Cattle service contribution
24,680
8,600
420
22,627
21,250
Adverbsing recharge - Cattle Service
Wodd Federation Contribution
2,515
3,829
2,432
9,310
Sundry income
40,044
55,619
4 Income from charitablg activities
Unrestricted Unrestricted
funds
funds
2024
2023
Group
Entry Fees
68,689
70,919
Unrestricted Unrestricted
funds
funds
2024
2023
Charity
Enty Fees
68,728
70,919
20

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
S Other tradlng actlvltles
Unrestricted Unrestricted
funds
funds
2024
2023
Group
Classification income
Promotion income
Conference income
28,126
11,617
332,068
371,811
28,868
14,255
28,526
71,649
Unrestricted Unrestricted
funds
funds
2024
2023
Charlty
Classification income
28,126
28,868
Promotion income
15,293
16,010
Conference income
340,068
383,487
32,021
76,899
21

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Investments
Unrestricted Restricted Total Unrestricted Restricted Total
funds
funds
funds
funds
2024
2024 2024
2023
2023
2023
Group
Rental income
36,775
7,341
1,275
36,775
2,352 9,693
1,275
49,233
6,678
783
49,233
2,256 8,934
783
Income from unlisted investments
Interest receivable
45,391
2,352 47,743
56,694
2,256 58,950
For the year ended 31 December 2023 56,694
2,256
58,950
Unrestricted Restricted Total Unrestricted Restricted Total
funds
funds
funds
funds
2024
2024 2024
2023
2023
2023
Charty
Rental income
36,775
36,775
49,233
49,233
Income from unlisted investments
7,341
1,275
2,352 9,693
1,275
6,678
808
2,256 8,934
808
Interest receivable
45,391
2,352 47,743
56,719
2,256 58,975
For the year ended 31 December 2023 56,719
2,256
58,975
22

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Audltors remuneratlon
2024
2023
Fees payable to the company's auditor and associates..
For audit seD/ices
Audit of the financial statements of the group and company
Accounting services
13,000
3,465
3,300
16,465
3,300
Commercial trading activities
Group
The wholly owned trading subsidiary Cattle Services {Ayrl Limited is incorporated in the United
Kingdom (company number SC0427331. They retsin all of their profits in the business. 11 operates
in the cattle breeding industry. A summary of the trading results are shown below.
Cattle se￿ices (Ayr) Limited
2024
2023
Total income
Cost of sales
Administration eosts
Interest payable
Net profit l (lossl
190,117
193,9151
195,0821
207,619
1112,8541
191,6791
1251
3,061
1,120
23

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Charitable expenditure
Charitable
Expendituro
2024
Total
2024
Total
2023
Group and charity
Staff costs
Rent and rates
Insurance
Telephone
Repairs and maintenance
Consulting
Equipment hire
Telereg fees
Postage and ststionery
Sundry expenses
Travel and subsistence
Depreciation
Bank charges
26,250
8,024
4,194
2,345
7,195
16,371
11,483
28,912
2,724
3,139
7,647
477
26,250
8,024
4,194
2,345
7,195
16,371
11,483
28,912
2,724
3,139
7,647
477
54,327
10,332
3,394
2,318
27,815
10,088
11,894
32,030
3,885
751
6,362
479
5,209
4,921
4,921
123,682
123,682
168,884
Share of SUPF)Ort costs (see note 101
35,621
35,621
19,208
159,303
159,303
188,092
Analysis by fund
Unreslricled funds
Restricted funds
158,806
497
158,806
497
187,600
492
159,303
159,303
188,092
Expenditure incurred relates to the one principal activity of the charity.
24

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Support costs
Support Governance
Costs
Costs
Total
2024
Total
2023
Audit fees
Accountancy fees
Legal and professional
Pedigree Livestock Services
13,000
3,465
5,764
13,392
13,000
3,465
5,764
13,392
35,621
3,300
13,950
1,958
35,621
19,208
11 Trustees
There were trustees. expenses paid in the year ended 31 December 2024 of £4,50012023- £nill.
The expenses relate lo travel costs reimbursed for trustees, during the year.
12 Employees
The average monthly number of employees during the period were..
2024
Number
2023
Number
Ayrshire Cattle Society of Great Britain & Ireland
Caiile Services IAyrl Limited
Group
2024
Group
2023
Charlty
2024
Charity
2023
Staff costs
Wages and salaries
Social security costs
Pension costs
61,043
5,062
2,995
88,578
5,403
2,063
25,000
51,278
447
2,602
1,250
69,100
96,044
26,250
54,327
There were no employees whose annual remuneration was more than £60,000.
The group considers its key management personnel to comprise of the Iruslees and the senior
management team.
25

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Tangible fixed assets
Group
Plant &
Machinery
Fixtures &
Fittings
Computers
Total
2024
Cost or valuation
Al 1 January 2024
Additions
12,240
35,669
431
7,002
54,911
431
Al 31 December 2024
12,240
36,100
7,002
55,342
Depreciation
Al 1 January 2024
Charge for period
12,240
33,505
238
6,524
239
52,269
477
Al 31 December 2024
12,240
33,743
6,763
52,746
Net book value
Al 31 December 2024
2,357
239
2,596
Al 31 December 2023
2,164
478
2,642
Charity
Plant &
Machinery
Flxtures &
Fittings
Computers
Total
2024
Cost or valuation
Al 1 January 2024
Additions
7,803
35,669
431
7,002
50,474
431
Al 31 December 2024
7,803
36,100
7,002
50,905
Depreciation
Al 1 January 2024
Charge for period
7,803
33,505
238
6,524
239
47,832
477
Al 31 December 2024
7,803
33,743
6,763
48,309
Net book value
Al 31 December 2024
2,357
239
2,596
Al 31 December 2023
2,164
478
2,642
26

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Investment Property
Group & charity
2024
Fair value
Al 1 January 2024 and 31 December 2024
625,000
The fair value of the Investment property has been arrived at on the basis of a valuation carried
out on 31 December 2024 by the trustees,. The valuation was made on an open market value
basis by reference to market evidence of transaction prices for similar properties.
27

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15
Flxed asset Investments
Group
Listed
Investments
Other
Investments
Total
Cost or valuation
At 1 January 2024
Additions
Valuation changes
Disposals
At 31 December 2024
278,442
4,826
3,424
14,6071
282,085
278,442
4,826
3,424
14,6071
282,085
Carrying amount
At 31 December 2024
282,085
282,085
At 31 December 2023
278,442
278,442
Charity
Listed
Investments
other
Investments
Total
Cost or valuation
At 1 January 2024
Additions
Valuation changes
Disposals
At 31 December 2024
278,442
4,826
3,424
14,6071
282,085
85,000
363,442
4,826
3,424
14,6071
367,085
85,000
Carrying amount
At 31 December 2024
282,085
85,000
367,085
At 31 December 2023
278,442
85,000
363,442
28

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15
Flxed asset Investments Icontlnuedl
2024
2023
Charity
Shares in subsidiary companies
85,000
85,000
Carrying amount
At 31 December 2024
85,000
85,000
At 31 December 2023
85,000
85,000
The parent owns 100010 of the share capital of Cattle servI￿s (Ayrl Limited {SC0427331
ineorporated in Scotland.
16
stock
Group
2024
Group
2023
Charty
2024
Charity
2023
Raw materials and consumables
133,617
95,374
2,528
1,957
133,617
95,374
2,528
1,957
17
Debtors
Group
2024
Group
2023
Charty
2024
Charity
2023
Amounts falling due within one year:
Trade debtors
Amounts owed by fellow group undertakings
other debtors
Prepayments and accrued income
107,632
129,021
20,241
3,323
37,613
15,618
5,382
36,477
6,233
17,170
5,382
36,477
17,170
131,035
170,880
40,734
95,090
29

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18 Credltors: amounts falllng due wlthln
one year
Group
2024
Group
2023
Charity
2024
Charity
2023
Taxation and social security
Trade creditors
Accruals
540
131,957
53,433
13,716
95,767
193,997
540
26,760
42,884
369
53,868
177,653
231,890
185,930
303,480
70,184
19 Operating lease commitments
Lessee
At the reporting end date the group had outstanding commitments for future minimum lease payments
under non-cancellable operating leases, which fall due as follows..
Group
Group
2024
2023
Charity
2024
Charity
2023
Within one year
In two lo five years
6,485
5,837
12,322
Operating lease commitments include the motor vehicle rental commitment.
20 Restricted funds
The income funds of the group and parent charity include reslricled funds comprising the following
unexpended balan￿5 of donations and grants held on trust for specific purposes..
Movement in funds
Resources
Revaluations,
èxpèndèd
gains and
losses
Balance at
1 January 2024
Incoming
rèsourc*s
Balance at
31 Deeèmbèr
2024
Group & Charity
Breed Development
66,920
2,352
15871
3,081
71,766
The purpose of the Breed Development fund is to maintain the purity of the breed known a5 ' Ayrshires
and to foster, promote and improve the breeding of Ayrshire callle in the United Kingdom of Great
Britain and Northern Ireland and the Republic of Ireland.
30

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
21 Unrestricted funds
These are unrestricted funds which are material to the group and parent company's activities made
up as follows..
Movement in funds
Resources
Revaluations.
expended
gains and
lossès
Balance at
1 January
2024
Incoming
resources
Balance at
31 December 2024
Group
General Fund
Frank Renshaw
Promotional
Fund
884,935
703,785
1696,8891
15921
891,239
74,849
959,784
2,576
706,361
15491
697,4381
935
343
77,811
969,050
Movement In funds
Resources
Revaluations,
expended
gains and
lo¥se¥
8alan¢e at
1 January
2024
Incoming
resources
Balance at
31 December 2024
Charity
General Fund
Frank Renshaw
Promotional
Fund
856,211
535,074
1529,2981
15921
861,395
74,849
2,576
15491
935
77,811
931,060
537,650
1529,8471
343
939,206
31

AYRSHIRE CATTLE SOCIETY OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
22 Analysls of net assets between funds
Unrestricted
funds
2024
Restricted
funds
2024
Total
Totsl
2024
2023
Group
Fund balances al 31
December 2024 are
represented by..
Tangible assets
Investments
Current assetsllliabilitiesl
627,596
208,074
159,380
995,050
627,596
282,085
157,135
1,066,816
627,642
278,442
120,620
1,026,704
74,011
12,2451
71,766
Unrestricted
funds
2024
Restricted
funds
2024
Total
Totsl
2024
2023
Charity
Fund balances al 31
December 2024 are
Tangible assets
Investments
627,596
293,074
44,536
965,206
627,596
367,085
42,291
1,036,972
627,642
363,442
6.896
997,980
74,011
12,2451
71,766
Current assetsllliabilitiesl
23 Contingent Liability
Subsequent lo the year end, a legal matter has arisen in respect of a former member payout. The
amount of the potential liability is £28.000. As the obligation did not exist at 31 December 2024, no
provision has been recognised in these financial ststemenls.
32

AYRSHIRE CATTLE SOCIETh OF GREAT BRITAIN & IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
24 Cash generated frorn operations
Group
2024
Group
2023
Charity
2024
Charity
2023
Surpluslldeficill for the Period
14,112
147,5411
12,992
150,6021
Adjustments for..
Investment income recognised in
statement of financial activities
Depreciation and impairment of
Gain on disposal of investments
147,7431
158,9501
147,7431
158,9751
477
13,4241
479
12,3831
477
13,4241
479
12,3831
Movements in working capital..
Ilncreaselldecrease in debtors
Increaselldecreasel in creditors
Ilncreaselldecrease in stock
39,845
1117,5501
138,2431
123,6111
160,087
5,837
54,356
{161,7061
15711
141,8471
177,988
2,074
Cash generated from operations
152,526
33,918
1145,619
26,734
33