THE GALLOWAY CArrLE SOCIETY OF GREAT BRITAIN AND IRELAND UNAUDITED FINANCIAL STATEMENTS 31°. DECEMBER 2025 COMPANY REGISTRATION NUMBER:. SC009393 CARSON & TROTTER CHARTERED ACCOUNTANTS 123 IRISH STREET DUMFRIES DG12PE
The Gallow Cattle S4)eie Of Great Britaill And Irtland Company information 45 gt 315t December 2025 Council T.S. McKit)non M. Brom J. Heard P.J. Hunter-BlaÈr J.IL FAnlay W. mleall A. Mcconchie C. Logan A Mcclymont A.F. Waugh R. M¢Tud( S. Kenny A. Nixon N. Smyth J. Campbell- Appointed 30th May 2025 J. Ross- Appointed 30th May 2025 K. Madden- Appointed 30th May 2025 A. Hunter Blair" -4ppointed 30th May 2025 Secretary D Goldie Company number SC009393 Clwity Number SC008870 RegISred offi¢e 15 New Market Stseet Castle Douglas DG7 IHY Auditors Carson & Trotter Chartered Accountants and Regisiered AuditOTS 123 Irish Street DGI 2PE
The Gallowa Cattle Socie., Of Great Britsin And Ireland Financial Statements ear ellded 315t Decetnber 2025 For the Contents Page Council's report Auditots, rert Ststement of Financial Activiti&8 Balallce sheet Notes to the finan¢ial ststemenls lo-ls
The allowa Catue Socit of re#t Britsln and Ireland ort of the Council The Coun¢il who ar¢ also directors for the puwe of the Cojnpanies ACL present their report and th¢ audited fitwiciai statements for the year ended 3 1st Decetnber 2025. The financial statellts comply with the Chariti&s and Tn2Stee Inv¢51meDt {Scotlamd) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (&s atnended), the Companies Act 2006 and AontIng and Reporting by Charities.. Staten)ent of Recoll]llded Prdctiee applicable to charitie5 prepar]ng their a¢counts iti accordallce with the Financial R¢portitig Stalldard applicable in the UK and R¢public of Ireland (FRS 102). Ob ectives and Actlvities The principat activity of the Society ill the yearunder reYAew 7S the promotlOD of the Galloway Cattle Breed. Achievements and erformaJJ¢¢ The Council meets regularly to consider the progress of the ¢hariry and the aims of the ¢onstitutioJ). They review the State of affatrs and ensure Jnembers points of view are considered. FinanciAI Review The net in¢omelexpendilwe for the year before gains amounted to a surplus of £1 1,553 and the net yn¢omdexpenditure for the year after gaitts amounted to a surplus of £36,335. 1£9,699 deficit before ainS alld a svrylus after gaitts of £3,249 in 2024). The unrestricted fidS cauied forward are £307.206. Reserves Policy Th¢ free resetves of the charÉty are nl]ned at a level to cover a in1Di of one months aAnual expendXtte. At present the free reseeS of tbe charity exceed this miniwum level. Bisk Mwnagement The Collncil has condu¢ted its review of the nmjor risks to whtch the Society is exp)sed and systems have been estsblished to ltigate these risks. Plans for future periods The Coun¢il iotetth to continue to operdte tbe Galloway Cattle Society in the corning year with no DJOr changes. They wiu do their utsnost to grow the c]wAty to the benefit of meztkn and the breed of cattle known as Galloway. Taxation Other thall haTring an obligation to pay Corporntion Tax on insurdn¢e ¢onJrnisston rv£ivabl¢, th¢ Society is exenw4 as a charity, from any other liability to Corpordtion Tax. Strnetur Governance and Mana Collstitutioll The Galloway Cattle Society of GreAt Brttain and Ireland was Constituted Ls a company iimited by guarantee and not having a share capital by Memorandum and Articles of Associatiott on I lth May 1915. The liability of the members is ]imited to £10 eAch. The members of the Council are appointed in accordance the tertlls of the Memorandum and Articles of Assl&tion. The So¢iety is a regxstered ¢hariry, regts*red cbarity number SC008870. ement Recruitment And A oilltmenÉ The Society As loojing for Trustees who bave the right skills alld expience to join the Council. Page I
The Gallowa Cattle Socie of Great Britain and Ireland Re ort of the Council Reference admiDistrative detalls .VJembers of the Council The members served during the year are as follows,'- T.S. M¢Kintion M. Bro D. M&Kwell J. Heard P.J. Hunter-Blair J.]L Finlay W. Maclean A. Mcconchie C. Logan Mccl01 R. McTurk A.F. Waugh S. Kenoy A. Nixon N. Smyth J. Campbell J. Ross K. Maddell Hullier Blair Regiglled 30th May 2025 Appointed 30th May 2025 Appoint 30th May 2025 Appoinied 30th May 2025 Appointed 30th May 2025 Clwity Number: SC008870 CompanyNumber: SC009393 Registered Office :_ 15 Newmarkct Street, Caslle Douglas. DG7 IHY Statement of Council's Responsibilities The Coullcil who are also directors of The GalloTh?y Cattle SocAety of Great Britain and Ireland for the purposes of con¥any law are responsible for preparin8 the CoutLciI's Rq)ort and the fi[wla1 statemcllts ID accordanre applicable law and Unit¢d Kirygdom Accounting StaTMlards (United Kill8dom GellerallyAccepted AccouThting Practice). Con]paoy law requires tbe Council to prq)are finallcthl statements for each f]nan¢ial wkn"¢h give a ttue and fair view of the sttte of the affairs of the Society and the in¢oming resources and application of resources, including tlie net income or expenditure of the Society for that year. tn prepat]Dg these the colu]1 are requ]Ted to.. - select suitable accountxng li£JeS and apply them consisiendy, - observe the methods and ptillciples itl the Charities SORP; - make judgetnellts and estillMtes that are re*Lsollablc and prudent. - stste whether applicable UK Accounting StaTMlard8 have been followed, subject to ally material departttres discloscd and explained in the fitjancial statetnents" - prepare the financial staiements on the going ¢on¢em basis uojess it is inappropriate to presunK that the sociery will continue in opcratio The Council are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the flnancial position of the Society and to enable them to ensure that the fjnaticial statements Comply wtth the CompanAes Act 2(X)6, the Chariiies and Trnstee Invesknent (Scotland) Act 2005 and the Clwities A¢¢tsullts {S¢otialld) Regulation$ 2006 las amended). They ar¢ also responsibl¢ for saf¢guaTding the assets of the Sociery and hence for taking reasonable steps for the prevention and detection of fraud and other irregulwittes. Page 2
The Gallow4 Cittie otie f Great Bri nd Ire]attd ort of the Couneii Statement of Diselosure of Illforniatlon to Auditors We, tlLe direciors of the Company 110 held offi¢e ai the date of approval of these financial ststements, as set out in the printed accounts. each confm so far as we are aware, ihat '. - there is no relevant audit infornwion of which the CompaThls auditors are unwar¢' and - we have taken all the steps that we ought to have taken as directors in order to make ourselves awdre of ally relevant audit isrfornjation and to establish that the COmpanS auditors are aware of tbat llffornHtion. Auditors A resolution to re-appoint as auditi> Messrs Carson & Trottw will b¢ put to the Annual GenernR Meeting. Small Com Exe tlons This report is pr¢pared in accordance with the special provisioDS for small compaDies under Part 15 of the Companies Act 2006 and approved by the Council oll 12th February 2026 alld signed on its beIlf. By order of the Council D Goldle Page 3
The G4lloTrv# Cattle Socie Of Great Britain And Ireland Ind¢ edent auditors re rt to the trustee5 and members of The Gallow* CAttle Soel reAt Brltslkn a We have audited the finallcial statements of The Gallowav Cattle Society of Great Britoin and Ireland for the year ended 31st December 2025 whi¢h comprise the statement of f1¢la1 actitieS, the balance shee¢ cash flow statem¢ut aDd the related notes. The financial reporting fralllework that bas been applied in th¢ir preparntion is wli¢able law and United Kitigdtsm Accounting Standards (Uni{ Kingdotn Generally Accepted Accoutttmg Practice) including FRS102 'The Financial Reporting Standard applicable ill the UK and Republic of Irelojxl,. This report is made solely to the sociews members, a5 a body, in accothce with Chapier 3 of Part 16 of the Coinpanies Act 2(M16 and to thc cltti Tntee8 &s a body. in accordaace with Section 44{1)(¢) of the Charities and Tn]stee Investment {S¢otland) Act 2005 and Regulation 10 of the Charities Accounts (ScotlaTLdl regulation5 2006 {&s aelld¢d}. Our audit work l)as been undertsken so that we might swe tts the sociews tmstees and members those matters we are required to state to them in an auditors, report al for no otherpurpose. To tbe filest extent pennitted by law, we do not a¢¢ept OF assume ie5ponsibility to anyone other than the cknity alld the sociews members as a body and its ttustees &$ a body, for our audit worL for this repoo or for the opinii)J)s we have forned. In out opinion the financial statements: - give a true 2nd fair view of the state of the SletS affairs as at 31st December 2025, alld of its in¢ollJing re50ufGeS alld appli¢ation of Rsources. including its iticome and expenditure, for the year then enth4. - have been properly prepared in a¢¢ordallGe witb United Kingdom Generally Accepted Accounting Prdctiee (applicable to smaller entities). and - have been piqTrared in accordanc¢ with the requirenThts of the Compalltes Act 2006, the Clwities and Tnjsiee Investlllent {Scotlaod) Act 2005 and regulation 8 of the CritieS AOUnts {Scotland} RegulatioLs 2006 (Ls amended). Ba$AS for opinAon We conducted our audit in accordallce tnterDational Standards on Audititig IUK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are fillther described iti the Auditoes responsibiliiies for the audit of the financial stttelllcnts section of our report. We are itidependetjt of the charitable ¢ompony in accordance with the ethical requireEnellts that are relevant to our audit of the fuwicial statements io the UK. including the FRC'S Ethi'cal Standa and we have fvlfilled our other ethical responsibilities im &crdanCe with these requiretnents. We believe that the audit evidence we have obtsined is sufficient al appropriate to provide a basis for our opinio Conelusiolls relating to going concern We have nothing to report in respe¢t of the following rnatters in relation to which the ISAS (IJK) require 9 to report to you where: - the council members w8e of the going concern basis of accounting in the prepardiion of the fmancial ststemcnts 15 liot appropriate; or - the Council mejnbets have not disclosed in the flln¢la1 staiemellts any identified material ullcertainties that tnay cast sigDifitaDt doubt about the charitable cowJPs ability to continue to adopt the going concern basis of attountillg for a periiKI of at least twelve mottths from the date when the fjC1a1 siatemellts are authorised for issue. Other IorMatiO The councd tnembets are responsible for the other infornlOO. Tbe other infornjaiion Comprises the information illcluded in the council tyembers, aTlla1 report, other than the fillamcial Statements and our auditovs report thereon. Our opinion on the finatt¢ial statein¢nts does noi c<)ver the other infornjation and. except io the extent otherwise expltcitly stated iti our repotL we do not express 8Y form Of as5urdn¢¢ ¢on¢luston tbereon. Page 4
The Gallow# Cattle Socie Of Great Brltaln And IrelaFJd lrtde ndellt Y4udltOTS' rt t the trustees tDembers of The Gallowa Cattle Sucie of Great Bri Ireland In ¢onnection with our audit of the fiDaTL¢ial stsrejnents, our responsibility 1$ to read the other infornmtion and, in doing so. consider whether the other infOrntioll is rtteriallY inconsistent with the financial statements or our knowledge obthined in the audit or othernise appws to be ll>aterially misstated. If we identify such terts1 in¢onsistencies or apparent material misststements, we are required to determine whether there is a terial Jnisstat¢ment in the financial statements OT a material misststement of the other infonration. If, b&sed on the work we have perfOed, we conclude that there is a terIal misststement of this other inf0rnlltlo we ate ttquxred to report that fact. We have notbing to report in th"s regard. Opinions on other tter$ prescribed by the Companle$ A¢t 21106 In our optnioJ4 b&sed on the work undertaken in the course of the alldit.. - the inforn)ation given iti tbe ttustees. report (incotporating the directors, report) for the financial year for which the fiDall¢ial statenmirs are pr¢pared is consistent with the fiDancial Slateellts. and - the dtre¢tors' report has been prepared in accordance with appIlble legal requArements. Matter5 OD )Ybich we are required to report by exeeptiou Ill the ligbt of our knowledg¢ alld UTLderstanditig of the charitable company and its envyrojhment obtsined in tbe course of the audiL w¢ haye not identified material D)iSStatements iti the council, reporL We have ttotbing to report in r¢spect of the following llwters lere the Conwies A¢t 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) re¢wires us to report to you if, in our opinion.. - adeqlla and proper aw)unting records have not been kept, or returns adequate for our audit have not been received from bratL¢hes not Yisited byw; or - the fllkauGial ststements are aot in agreement with the aceounting records and rellm. or - certain disclosures of coullcil members r¢rnuneratiott sp&ified by law are not nwle; or - we have At received all the infonnation attd explanations we require for our audiL or - the council Jnejnbers wer¢ not etititled to prepar¢ the fmallcial Stat¢ents in a¢cordance wrytb the STnall ¢ompani¢s regime and tske advantage of the small collyatiies eXentiOn from th¢ requiremellt to prepaxe a strntegic reporL Responsibilities of trugtses As explained more fully iti the ¢owicil' pOnsIbIlitieS staiement set out on pag¢ 4 the tnLStee8 (who are also the directors of the charitable company for the purposes of ¢ornpany law) are rwonsible for the preparation of the fllMtL¢ial staternents and for being satisfied that they give a twe and fair view, alld for such internal ¢ontsol as tbe trustees detemiine is necessary io enable the preparation of f]nan¢ial siatejnents that ore free frozn lljaterial misstaiemenL whether due to fraud or error. In preparing tbe f]nancial statements, the twstees are resPotbIe for assessitig the cl)aritable compan8 ability to contillue as a going eoncern. disclosing, as applicable, malters related to going concern and using the gtring concern basis of accounting unless the trwslees eitber illtend to liquidat¢ the charitable cotnpany or io cease operation& or have no rea]isti¢ a]ternativ¢ but to do so. Page S
allowa Cattle Socie Of Great Britaiti And Ireland Inde dent audltors, re rt to the tr115tte5 artd members of The Gallowa Cattle rtt Brltstn and IreJgDd Auditor's responsibilitie5 for the audit of the fmAfj¢l81 statemeDts Wc have teJ) apwkAnted a8 auditor under section 44(1){¢} of the Charities and TnLSte¢ Investnlt (Scotland) Act 2005 aud unikr th¢ Companies Act 2006 aod reprkrt in accordancc regulations made under those Acts. Our objeciives are to obtain reasonable assurance about whether the fiDaDcial stat¢llts as a whole are free from Marial misstatemenL whether due to fi2ud or error, and to issue an auditofs report thai includes our opiniorL Reasonable a1vCe is a hh level of assurance, but is not a guarantee that all audit condueted in accordallce with ISAS (UK) will a]ways detect a n]atcrial misstaternent when it exists. Misstatements can arise from fraud or eryor and are coTh8idered material If, indimdually or in th¢ aggregate, tbey could rOnablY be expected to lljlluence the econojnic decisions of users taken on the basis of these fmancial statenients. Irregulariti¢4 in¢ludÉog frau4 are iIistallces of non4ompliance with la and regulations. We design procedures in Ill with our responsibilities, to detect material missrat¢mellts Èll respect of irregularities, 1cludIng fraud. In i6entifying and assessing Liskn of llmterial missiarejnent in respect of irregularities, including frad and lloll-con]pliaTLce with laws ad regulations we considercd the folloNryng: - Remew of the fllMn¢Aal statenjents disclosures and testiiig to supporting documentation to assess compliance with provision of relevarlt laws alld regulatioLts described as IMvÉng a dire¢t et on the financial statements. - Enquiring of managemellt concerning acttl amd po¢en¢ial litigation and clainLS. - Performing aoalytical procedures to identify any unusual or unexpected relationships that may i11¢ate risks of material misstatement due to fraud. - Detalled and re-perfomiance testing of specific colltrols and calculatioD5. - Read]llg minutes of meeijngs of rhose charged gov¢rnan¢e. In addresSll the risk of management override of controls, testing the appropriateness of journa] entries and other adju$tnnts, &ssessing whetber the judg¢ents llmde in m&kn"ng accounting estimates are indK¢ats"ve of a potenti31 bias. - The audit team remained alert to any indication of frdud or nonmPlianCe Math laws and regulations throughout the audit. Because of tbe inhereni lirnitaiions of att audiL there Is a tisk that we not det all irregularitie& includitig those leading to a tnaierial misstatement in the finaucial statements or non-compliallce with regulations. This risk increases the rnore that compliance with a law or regulation is rernoved from tbe evellts and tiE1CtionS reflected in the f]nanGial ststements, as we w&ll be less likely to become aware of instances of non-cowliance. The risk is a]so greater regarding irregularities occuffing due to fraud rather than error. as fraud involves Alltentional conceaimellL forgery. collvsiox), omission or rnisrepresentation. As part of all audit in accordance with ISAS (UK), we exercise professional judgment and n)aiutain prof¢ssioTJai Scepticism throughout the audiL We also". - Idelltify and assess the risks of marIal misstatement of the fJnan¢ial sratements, wl)¢th¢r due to fraud or error, de$igJ and p¢rforni audit procedures responsiye to tbose ris, aud obtain audit evidence that is sufficiellt alld appropriate to provide a basis for our opinioL The risk of not dek¢ting a material misststement resulting from fraud is higher than for one resulting from error, &5 lld may involve Collusioty forgery, illtsntional 0]ssiOns, misIepTttelliations, or the ovetrtde of inErnal control. . Obtain an Undsndig of ititernal control relevant to the audit in order to design audit procedures that are appropriate in the circumstsnces, but not for the purpose of expressing all opinion on the effectiveness of the clwitable GornpanS internal control. - Evaluate the appropriateness of accounring policies used and the reasonablen& of accounting estInteS and related disclosures made by the Inttes. Page 6
The Gllow attle Socie at Britsin And Ireland Inde endttht Xtjdttors, rt ort to th emjbers of The Gall WA CAttle So¢ie f Great Britain and Conclude on the appropriateness of the trustees, use of the going ¢on¢ern basis of accounting and, based on the audit evid¢nce obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the chatitable company's ability to continue as a going toneem. If we conclude that a MarIal uncertainty exists, we are required to draw attentioft in our auditoEs report to the related disclosuTes in the financial gtAtements or. if such di$¢losures are inadequate, to modify our opinion. Our Conclusions are based on the audit evidence obtained up to the date of our auditor'5 report. However. future events or conditions may Cause the charitable company to Cease to continue as a going toncem. Evaluate the overall presentstion, structure and content of the financial statements. in¢luding the disc105ures. and whether the f]nan¢ial sementS represent the underlying transactions and events in a manner that achieves fair presentation. We conununicate with those charged with governance regardino among other matters, the planned scope and timing of the audit and significant audit fdtngs, including any significant deficiencies in internal control thai we id¢ntify during our audit. Use ofour Teport Thi5 report is made solely to the charitable ¢ompanys members, as a ix)dy, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable eompanys trustees, as a bod},, in accordance Regulation 10 of the Charities Accounts (Scotland> Regulations 2006. Our audit work has been undertaken so that we might state to the charitable ¢ompany's meTnbers and trustees those matters we are required to state io them in an auditor's report and for no other PUFpose. To the fullest extent pern)itted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable coPanY'S members as a body 2nd the charitable company's tTusiees as a body, for our audit work for this repor¢ or for th¢ opinions we have fornied. Linda Br8nnocK BA CA, Senior Ststutory Auditor for and on beh21f of C3fsoD & Trotter, Cbrtered Accountants, ststutory Auditor5 123 Irish Street Dumfri¢s DG12PE 27th March 2026 (Carsoll & Trotter Chartered Aecountants is eligible to act as auditor terms of seetion 1212 of the Companies Aet 2006) Page 7
The Gallowa Cttle Soele Of Great Britain And Irei¥nd Statetllent of Fi¢11 A¢tivities IncllldRn Income and Ex enditure Account for ihe e8r ended 315t DeceJDber 202S Fullds 202S 2024 Income and endtswments from: Investmettts Charitsble activities 7,287 54,700 7,221 39,224 TotaL Income and endowmellts 61,987 46,445 Expenditsre ofj: Charitable activities 50,434 56.144 Total Expenditure 50,434 56,144 Net expend1ft¢ for tht year before gains GalO(LO$Ses) on investments 11,553 24,782 (9,699) 12,948 Net in¢omeJ(expenditure) for the year 36,335 3,249 Reconciliation of Funds: Total fullds brought fonwd 270,871 267,622 Total carried fonvard 307.206 270.871 The notes pages 10 to 15 form an integral part of these fiAn¢i¥J statements. Page 8
The Gallowa reat Britsin And Ireland
D
Number SCOO Balance Sheet as at 31st De¢emb¢r 2025 2025 2024 Notes FAxed Assets Tangible assets Inve8tmeots 2,772 250.827 3.040 229966 253,599 233,006 Current Assets 520 1.302 55,238 37274 56.986 40.094 Creditors: fJUillg de within one year io (3J79) (2229) Net Currellt as3¢ts 53.607 37,865 Assets Less Current Liabilities 307206 270.871 The funds of the ¢harity U7Jrestricted fiMLd Iz 307206 270,871 Tgtsl dwity funds 307206 270.871 The financial ststem¢nts are ptepared in aCwrdall with thc wial provisions ofPart 15 of the copaleS Act 2006. The fjnancial staterne were approved aad authori8¢d for issu¢ by the CowA¢AI OTA 12th F¢bruary 2026 and siglled on its bebalf by R McTurk The notes page5 10 to IS form an tste2r part of these finandal statement& Page 9
Tbe Gallowa Cattle Socii of Great Britain and Ireland Notes to tbe finalleial stattmellts r ended December 21125 for SllMnry of significant accollDtiDg poiieies The signifIcaryt a¢countin8 policies applied in the preparntioll of tbese financial Statements are set out below. These policies have been c¢)llsistently applied to all years presented unless otlMNryse star General infornthtioll And basis of prtp#r#tlon The financiat statements are prepared under tbe historical cost convention as modtfied by the inclusion of investments at market value and in aordanCe Thith Accounting and Reporting by cltitieS. Statetnent of Recomtnended Practice applicable to Charities PTepaT?ng tbe2r accounts in a¢cordan¢e the FiTwicial Reporting Standard applicable in the UK and Ireland (FRS 102){effective l Jalluary 2015)- {CkRtities SORP (FRS 102). the Financial RertJtig StandaTd app]icable in the UK and Republic of Ireland (FRS 102) ond the Con]panies Act 2006. The Charity constitutes a public benefit entity as defined by FRSIO2. Going concern The fIanCial statements are prepared on a goim8 ¢oncem basis under bistorical cost Conventio modified to include certain items at fatr value. The fillancial ststements are presented in sterling which is the fim¢tional ¢uryency of the charity. (a) Ch*ritable Statss The Society is a registered cbarity, registered charitynuth SC008870, and a¢cordingly llo liability to Corporation TLX arises on t1¢ accounts. (b) Fund Accounting The Unrestricted Fund is &xpendable at the discretion of th¢ Counci] Members in fie¢¢ of the objects gf the SIety. (¢) lllcome Re¢ggnition All income is in¢luded in the Ststement of Financ"1 Activities whell the Society is legally entitled to the income, probabdity of rtteipt alld the atnount call measured with sufficientreliabilty. Illve5tD]ent illcome is accounted for in th¢ period in iCh the So¢iety is entided to receipt. (d) Expenditure Recognition Expenditure is included OTr an accruals basis and has been classified U1¢r headings that aggregate all ¢osts related to the category. Expenditure is retogtiised where there is a legal or Constructive obligatioll to Tnake payTnents to third parties, it Is probabl¢ that settlement will be requ]red alld th¢ amount can be measured with suffi¢Aent reliability. Page 10
The Gallowa Cattle Sooli of Great BrStaln And Irellld Notes to the fanCIal statemettts for the ear ended 31st Deeember 2025 (e) Depreciation of tangible fixed assets D¢pr¢¢iation is provided at the following alUa1 rnt¢5 in order to ThTite off each &et over Èts use1 lrfe.. .Heritable property Office filllliture al fittings Computer equipment 2•/ti straigh¢ litte 150/ts redu¢itJg balance 250/0 reducing balae (fy Stocks Stocks are stated at the lower of cost and net iealisablc va]ue. {g) lllvestmtnls tnvestments held as fixed assets are included at fair value at the Balance Sheet date and the gain or loss taken to the Statement of Financial ActivitiG8. lllve$tments 2025 2024 Listed tnterest on sIrt terni deposits 6.475 812 6,333 888 7,287 7,221 All income from investtnents in 2024 and 2023 Was unrestricted. Income from C11tble A¢tiviti¢s 2025 2024 Registration feG8 and entry heduleS SubscIiptioDs received Commission on sales LY Oll sales Transfer certificates Sale of Herd Books Sale of History Books Income from advertisements 27,038 6,866 3.134 11.003 1,473 255 18,357 6.531 1,517 6,991 628 330 4.920 4.870 54,700 39224 All income from clwitabk activities in 2025 and 2024 w Uwestri¢d. Page 11
allowx Cthttie Soele oIGreat Britsin and Notes to the faD3Dcial $tatements ror th¢ ear ended 31st Deeember 2025 Analysis of expenditure on ¢baritable activitie8 The expendin¢ for the year is attributable to One aetiTrity, natnely tbe promotion of the Galloway Catde Breed. An analysis of expenditure is givenbelow.. 2025 2024 Direct Costs Support al GovenwLCe Costs 26,380 24.054 32,843 23,301 50.434 56,144 Direct Costs 21125 2024 Cost of printing Journal Cost of History Books sold Show grants and prizes stat at sbows Computer costs Publxcity and advertising Subscription to National Beef Association Subs¢riptions and magazines Office wages and salaries Rates and itiSUT3nce HeatiJLg. lighting alld ¢leatiing Repair5 and rellewais Postages Printing and stationery Web site costs Telephone Trdvelling expen8es Bad debts 4,620 4,620 23 4,370 3,431 929 10,665 79 73 1,256 501 991 94 2252 1.087 830 785 473 384 3,850 2,999 1,137 5.272 70 90 1282 331 710 988 2.448 1.305 989 289 Total Direet Costs 26,380 32,843 Support Govern&net Costs 21125 2024 Secretsrial services Auditors remuneration Stockbrokevs charges Suudry expellses Depreciatio]J 17.720 1,950 3,000 1,116 268 16.990 1.865 3,(M)O 1,174 272 Tot Support and Governance Costs 24,054 23,301 All expenditure 00 cijaritable activities in 2025 and 2024 w&8 unrestricted. P*g¢ 12
The GAllowa Cattle SotSe of Grext Britain #Dd Ireland Notes to the fJnanciaI statements for the ear ended 31st December 2025 Employees The Society h&s no en]ployees. Mrs D Goldie. acts as Secretary for tbe Society is self employed. The coun¢il membets are CODsidertd to be the key anagement personnel. Net in¢omel{expenditure) for the year 2025 2024 Net incomelexpenditure is stated after charging.. Depreciation Auditors remwieration 268 1,950 272 1,865 Offite Herfifable Furlliture Computer Property and Fittings EQuipent TallgRble fixed awts T•t41 Cost At 1st January 2025 12,443 5.145 2,375 19,963 At 31st December 2025 12,443 5,145 2,375 19.963 Depreciation At 1st January2025 Charge for the year 9,5(K) 250 5,086 2.337 16,923 268 At 3 1st December2025 9.750 5,095 2.346 17,191 Net blxtrk values At 31st Deeember 2025 2,693 50 29 2,772 At 31st December 2024 2,943 59 38 3,040 P14ge 13
The Gallowa Cattle Socie of Great Britain and Ireland Note5 to the fAnancia] statements for the ear ended 31st Decernber 2025 tDve$tment5 2025 2024 M&et value at 1st Jalwary 2025 Sale proceeds Cost of new acquisitio Gainl(LA)ss) on revahtiOn alld disposal 229,966 (43,774) 39.853 24,782 219.592 18,811) 6,237 12,948 M&et value at 31st December 2025 250,827 229,966 Investsnents at m•ket va]ue comprised: Equities Fixed Enterest Securities 223289 27,538 214,022 15.944 250,827 229,966 HistOTical cost as at 31st December 2025 176,182 159.350 Debtor5: all re¢eivable Fithin one year 2025 2024 Trade debtors Other debtors Prepayments 481 1.108 711 1,302 1,302 2,300 io. Creditors". atntsunts falllng due within One year 2025 2024 Receipts in Adwance Trade creditors (Xber XeS and social security Sts Accruals 128 351 457 1,066 1,750 1.750 3J79 2,229 ii. Share ¢xpital The Socieiy bas no SbaTe Capital as it ts a Company Limited by Guar8nte£. The Society is under the Control of council of members. Page 1.4
Tbe G10# C&ttie Soele of Great Britsin and Ireland Note& to the fitLaD¢ial 5tatemeDts foT the vear ended 31st Deeember 2025 li Unre5trieted Fund Balanee at 1st January 2025 Balance al 31st December 2025 Gainl (Loss) Ellcome Expelldlre General Fulld 270.871 61,987 (50.434) 24.782 307.206 13. Related party transaetions Council members received no T¢muueration (2024 - £nil) and received no reimbursement of expendittwe during the year. 14. Analysis of net 4$5et$ between funds Tangible fixed Other net a55et5 2nd assets1 investments Oiabfilties) Tot Unrestricted funds 253.599 53,607 307206 Page IS