REGISTERED COMPANY NUMBER: SC204832 {Scoiland) REGISTERED CHARITY NUMBER: SCI 1766 OF THE TR UNA INANCIAL sfATEME R THEY EMBER 202 FSDALE H Henry Brown& Co 26 Portland Rowj Ki]marnk KAI 2EB
CLYDESDALE ILSE SOCIET CONTEliTSOF T IN'AYCIAL STATF.hlEhlS FOR TIIF. YEAR ENDED31 D IBER 2025 Pate Report of ¢ht Trustees Indeptnd¢nt Examler'5 Report Statement of Financi•l A¢tliltl¢s Balanee Sbeet 9 to 10 N4Mes to the Flnaneial Sitemtnts 11 to 17 Detalkd Stalemenl of FI1¢181 Adiildes 18 10 19
YDESDALE HOILSE SOCIETY F THE TRUSTEES BER 202 The Tru4ees wh) are •lso direuors of the charity foT th¢ of CotllPLies Act 2(th. present their ret with Ihe finan¢Jal $eMents of ih¢ charity for the year eth 31 Ikeember 2025. The trdstees have adopted the proViSTro of Accountlllg and RertIn8 by Charities.. StstenKnt of R¢¢urn PraciKe •ppli¢able io ¢haviiies Preparing their accounts in acc4>rdanee with tbe Financial Repming Sts]MJJrd applirabie in the UK aTwJ R¢publi¢ of Ireland (FRS 102) leffectiv¢ l Jatmwy 20191. The Direciors and Trusxtts rKe5ent Ihcir report along with tk finwial sta¢m¢nts of the Con4Tr8try 2nd Charity for the year endcd 31st Ikcember 2025. The D1cl$ aNI Trt¢s have Ihe provisions of Ac¢LKmting and Reportin8 by Ch8ritie& S3w)Kni of Recommended Pnctict applicabk kn Companies lo prqmre their xcounts in accordance with the Financial ReFIng Stsndards awlicable in the UK and ITelandlFRS 102) (eff¢¢tiv¢ 1st jaftU 2015). OBJEcfivLs AND ACTtVITIFS Oblectlves 4nd 41ms The objrctive5 of the Society are lo maintain. unimpairfj. the pyrity of the iyeed of ho known as the Clyd¢sdak Horse. a1 to promote the brttdin8 of these h)tsts. The a150 to colirt vffify. presErve and publish the pedigrees of the said horses artd other useful infffimtiffi Tclatirs to tIKrn. The &Kicty will prornote thc 8cneral interest of the breethrs and owner5 alld arbilrdte w. inve51iBak and settle disW5 ard qStIonS relating io thenL Slznillcmnt Attfvldu The Breed once again produced its 8Mual stt Book. vOlurr 130. listing all brttdinB stttk. all foals b)m in thc year. all transfcT5. import& and exports for the relevanl which in this ¢ase was 2024. Volume 131 of th¢ Swd Bfy)k will be published in Spring 2026 and will r¢¢ord the staiisti¢s for 2025, $wing 74 fillies and 79 ¢01ts in total. These numbers which when added strtil[3 ItrIed in the &iety's daughr located in Gennany and Ireland will see foal numbus Temlin 41 a satisfa¢i(ry level (¢¢ win in 2025. particularly bearing in mind the conlinuing challging ¢¢onlOi¢ cirw[n51Jcs. A further 19 stsllions were registerulthNin8 2025. Durin8 Ihe year. followirtg a rEgulat(ry vieW, IrcomrmIntil w&$ made thai to stture full compliance with current passwrt regulations the Strwttwe of the &Kiety'5 Stud Ikk will ¢haTh8c in 2026. In essence rhc bulk of thc SIrtUre will main a5 trKfore but in fi)tU will include a new section to acc(m)le part brnl Clydesdale Horses which produ¢e pro8eny from TKffl-Clydesdal¢ and which will b) be accommcMJattyJ separnkty with separate rults. All steps will be tsken to protcct the purity of the bteed.
CLYDESD IETY EP RT OF THE TRUSTEES E I'EAR E%DED3I DECEMBE25 FO OBJEcfii'ES AND A1vIT]Fs Slgnllleanl Aetii'i¢ies Icontdl The Society rnal$ indcbied io trnstecs of Gcr4ld Falk)wes Tru Society Mjth a grani of £10,000. On the showground Lavr Lily (Owncd by Cb2rlwc yjn8 and bd by AlexarKlcr Broivn) w&$ f¢male Cawdor Cup Winner ai ihc 20?5 Royal Hi8hland Sho. and DI1[5 Calethnia lowied by Bob Hamilion aTKI Bred by Jim aNI Linzi KInedy) was male Cawdor Ctsp Winllcr ai Ihc ?0?5 Naiional Siallion Sh. Al th¢ So¢iW'S Winier Fair in Novcmkn Scott G111.$ Fotdelhill Ele ik Ovetsll chan)wonship with Ronnic Black's Colleiiie Alanna bein¥ R¢xrv¢. The 2025 ChaTnPiQn of Champions clak also iaking plxc ai t1 Win¢¢l Fair was won by Rcdcarflc C¢ilidh Dan¢¢r vned by Karcn Haw iviih thc Fordclhill Ilcna coming in &$ reserve and Collcssi¢ A12nna in Ihird pi8¢¢. Thc work in the Secraary'5 oifir¢ ¢ontinucs. Thcre is r¢gular inteiaciion wirh ihe mcmb¢tship ihrou8h Ihc i55uc of Mo ncivslcttcr5. on¢ in January and on¢ in July." other email blogs lin io iirn¢ using Faccbook wh¢re thc S(Kiety nom, boayt5 more ihan I I,( follow¢r M¢n)bcrship numtkY5 hcld up wcll and t(Mallcd 788 on 31$1 Dccemkn 2025. Subs¢ripiion rnies aEMI rcgi4rdlion fe held samc l¢v¢l for th Ilhh ycar in a mw. The Socicty thanks everyonc ivho %upp)rf¢d 115 i%'ork financially in ?5 tan¥iii8 fn)m memkrs and brecdc. Ihoq¢ buying nrChandi in¢luding calcnd7rs. Stud Book& a1 othcT item& as ii'cll as ihosc 'hO purrhas¢d and sold rafflc ii¢keis. Thc So¢i¢ry coniinucs io bc I1¢bted to Whisilcfith Publishing for tkir iiM¥nIfKL1 finan¢ial conlribu¢ion4 and to thc Horsc Ra¢¢ Le Board IHRLBI foriheii annual grJni M'hich in 2025 amouniLid io £12.fyXI. Thc HRLB grani is a BTccding grant ai'ailabic bcc8C of Ihc Society's Ra Brccd MatuN. Fmni this 8rdnl than £9.000 ivas dirtlY pas*d back io brcedth artd owtTh by w'ay of siallion pvcmium% and fool pIClU111%. In addili(ffl. Ihc Brani alloivs the So¢ieiy io siibsidisc DN'A co%ts, l¢aityn8 a small sum To suh.idio thc wblicalion of thc Stud Book. Th¢ injyccs re8ard financial p)sition of the So¢i¢ty 3] IkremlT 20?5 10 b¢ satisfaciory. arKL Ihc financial TEsult4 cfflct¥ing ivill bc articulat¢d in more thiail below
YDFSDALE HOILSE SOCIETY EPORT OF THE TRUSTEES FINANCIAL REVIEW FiTr&nei81 position Thc fInKIal results coverin8 the a¢tivities atld wwk of ihc &xiety for the year ded 31st Dwtmber 2025 are sei out in the Stsiemenl of FinaKial A¢iivilies on pge 8. This slMnVS total iM)me for the yr of £118.677 (2024 - £108,716). CU¢1 year expcnditLre am%yJnted to £93.582 12024 - £95247) eivin8 sU]uS of £25.IP)5 (2024 - £13.469) before investment valuatKyn rnovements. The overall surplu$ ryrt¢d of £49.185 (2024 - £21 J541 is arrivcd at afkr creditin8 unmlised (losses) Igains in the valuation of inve5tmen¢s totsjling £24.(V)012024 gain - £7185). The Society's ets and liabilities ale set oiit the balaTKe SI (th page 9. The pYiDcipal ass¢ls of the &Ki¢ty remain its inve5DnI rollO which val1 at £268,684 (2024 - £205.449) on 31st December 2025. At 31 Decemb 2025 lottl resetves amountcd to £359.161 (2024 - £3.976}. These re¢5 allLKa¢ed behween the gen¢ral fund lunrtstrictcdl of £348.806 {2024- £31)3.147).and restricted reserves of £IOJ55 {2024- £6.829). The no% set on pages I I 17 wsvide thuiloj explanaiions of baiatKes a1 tements and activity throu8knut ihe year. At an operating Icyel. thc &xicty had afft excellent year tKthinantly thh high rnargin sales of merchandise. carefijl rn8na8enn1 of aNI Ihe ofthe Sty.$ fiuKIus. These fin3¢Kial sthtements should al be read in conwlIlI With the COMTh Set out in the Staiement of Signif¢ ActivitiL% ill this rqKKt. Investment polky and objectives Th¢ statem¢ni of inveshnem balances * 31 2025 is I¢td eaTlier in this re and ihe ttustees. aim is io maximist the totsl rcturn with objedive of m&intaining incorne and preserving the rrdl value of permMent investments. This 11¢Y has fEmained urKhartd dun"n8 yur and the truaees can rqkn thht the inve5¢TnentS 8enerdted incorne of £7.566 (2024- £7.1921 Lll the year. Rtt¢rves poliry The restricied fund5 of the SLKicty thc c(rfJscwce of from fiJThlin8 received from thc Horse Race txvy Board and the Gerald FallowTnL. All other r¢smes wwestrKd. The trusltts corL%ider there io be fiulds held in tes¢rves whi¢h aff etwb to 5UPPOrt the xtiviiies of the SrKiery for the for¢s¢¢able fjjtuff aNI t0covertt¢¢ssaryesiIWr in this rtgd. STRUCTURQ GOVERNANCE AND MANAGEMENT The Society 15 9 limikd cornrAny. limiied by 8uaran< as (kfiwl by th Companies kn 21N at¥J is controlled by its Memorandum and Articks of ASSl8110n. It is also a Regi4tsed &onish Chatity. On 23rd January 2026 at an Ex¢wrdinary Gffleral Meeting ofthe memkn of the Socicty. Lt was unaniTnously agreed thai new Artieles of A&socia¢ion te adLythd. The win¢ipal ¢hanse io the Articks is ¢0 ¢rt a new. much th¢ed in size Bcwd of io manage the regulatM)n, compliance atwj govcrnance of the &Kiety. Tr lw Board will comprise the principal 07CC brerS of President. Viee Predent. ImwrKdiate Past Prcsi¢kni aj Hrw Treasurtf au8mented by up lo three athjitional DirectOf5 to be aPinted by the mernbership ai each Amlwl Cner21 Medin& This rtew will allow tIK bu5incs5 of the aythsdale Horse &Kiety to operdte mLYe efficiently arxl effer11]y from a regulatory and ClpI1ancc point of view Whil still drawin8 on thc vw exwitncc of owrS and breeders whose focus is aknut thc vital t&sk of t1n8 and [eSerVing the Clytsdaie Horse as a Rare Breed under the recognition of th¢ Raff Breed SuT¥ival Tnw.
LYDESDA E SOCIETY REPORT OF THE TRI'STEES FOR TIIE YEAR EDED 31 DECENIBER 2Q15 REFERENCE AP4D ADMINISTK4TII'E DETAILS Rtglstered Compan} nuNsber SC204832 (Scoilandl Registered Ch*rih mumber scii? Reglster¢d offi¢¢ 7 Turrcibank Plarc Crieff PH74LS Pw4
CLYD DALE H REPORT OF THE TRU EFS Tru5ttts Dlre¢tors Th¢ dirttlors scrving on the date of thi5 aTra5 follows.. Pre5idcnt - Sandy Aitken Vi¢¢ PIdrt- Scott Grcvthill HoTK)rary Treasurer. Captain James ATr4e[n Imrn¢dia Past PsIdent- JiTn Grrathill lditional dttthrS will ap111 at the &¢iery'sAnthw] G¢Krni M¢aithg in March 2026. Coundl The Board of Direclors will suOrted in their wo1 ihrough aR)o1nts)t of a Council norninated by the membership and represeNing all 15 areas irfo whi¢h memkn are a]ILKated. Cowi¢il will woiide membership gJPtM)rt aThl advice to th¢ Socicty. will work towards suHMxlinB imwffiryng the tffced of the aydE5dale HoJ3e, in¢luding promotion Of ihe breed. appointin8 jw mana8ins slw and affiliati¢)n& actin8 as the )int Of communication ind lia1 with tk membetship. lvising on meM11p and dealing with otlxer pSeS the Board shall dctenninc from lime to time. Board MembeTS are members of Council. #nd thc following havc servcd on Council since the Annual General Medirtg in 2025. Those noted below all reSi8d &$ Directors a1 TnJses on 2JMI FeFw 2026. Area I 21128 Mikty Munro Andy Christic LiTr15ay Martin Yvonne Ptingie Main Ralstorn Alison Bell Andrew v¢ Is01 Nisbei Kitsty Hyslop Jim Kennedy Gtmma Hou8htr Matthew Bedford Retirts 2027 Steve Nicoll George Y¢M]ng Loyise Gre•thill Edith Gw McLatehie Fiona Hardie Isobel McKie j(# McIrtty Retlrts 2026 Diane Tullc Patri£ McDonald Tom Clark Ailsa Noble Laurn Smiih Christine Hallidwy Elaine Ramsay John Crai8 Jim Paierson Willie Dunbar RolA)i¢ Manchester Kaiie Willry even Leverett Patrick MrKoy Derek Baiky 10 Mhat1 Martin Paul Wfo Philip Moss William Hanna Ejner Andc 12 13 14 15 Maiarhy McKay Rthrt Bailcy Th¢ Coun¢il Members noied in the a¢ thbk ofcowil membus as in 2028 wwe to cour11 on 15th Marrh 2025 At the Annual General Meeting on 15th March 2025 lan Y(Mm& NornMn ajristie. Irvine Anderson. A[ette Noble, Alan Campb¢ll. Neil HIe$l[, Ian Dwgl4 (Jwktr Emma Lighiix)wne, Teny Ed8e, Crai8 Hanna and Edward Cheasty retired by r(10ft from COUT11. Honorary Presldents The mtmbcrship can pin1 up to three HonDrny PreSidti expts*nctsl men and w(Mnen wkn have sced thc breed well over many yeats. and WIK) will contirtue to serve in an advis(ry cwity as non-VO¢ing members of Council. On 15th March 2025 MT Robert Hamilton was ajwintrd to thi5 rnle to replace the late Mr Malcolrn McFadyen. Mr Neil Christie and Mr George skin1 continued to serve as How Presidwtts throughout the ye4r.
CLYD RE RT OF THE TRUSTEES HE YE.4R ENQE EIIBER 20 Distlpllnln Commlttee Council Is responsiblc for appointin8 a Dis¢ipliDary Commillee to in%'Ls1igaic and d¢ol wilh ¢oniplainis against any aspcci of the So¢i¢ty's Ivork ihai require5 l1llc4tigati. At Ihc Diseiplinary Commiltee CompriS Pcicr Keion. John McMillaTh and Rob¢ll Sibbald. iiiih Peier Black having r¢tircd dunn8 ?0?5. Disciplinary commiitee meMr5 do not ha a vole on Council I leetings and Conduct ott)Le Societ¥'s The Board of Dircctors will mcet SCPaT3i¢ly at least fotsr iinKs a year and on as many other occasion5 as will bc c¢¢ssary to allow Ihc company 10 opcraie prO]KTiYaw fulfil ils purp)g-x re8ulal(Yy atKI CQTnpliance busincss. Council liill meel 5epiratel)' on ottslons througkoDt tht ier. COU71 mceiings and McmlKI IT¢1&$ aw held hybrid nKaings J combinaiiw of in rOn attcndance and aiicndancc by z()M icchnology. Wc arc I{rbI to Martin and Emma LighilNMinc and Kitsty Hyslop foT fa¢ilitiiin8 c¢linss using Zwm. During Ihc year Ihe Sociery ini'c4td £3.(KX) in IcchMIo8y lo cnabie ihis 10 hapn. Day-io-day activitie of th¢ So¢i¢ry are thlegated urKkr I1 suw%ision ofihc Board to the Secre¢ary.'Adminlfalof, lan Roy. Ivho ivill re[ rcgiilarly to thc B(Mrd 10 't)M hc shall also consuli on rrfintnt maners. Independent Eiamlt H¢Dry BTown & Co Cknncred AccouDtartlS 26 Portla[ Road Ktlmarnock Ayrshire KAI 2EB This rcport ha5 bc¢rt prtpared irt accordancc iiith I1 4tti•l wiiisions of Part IS of Ihc Compani¢s Act 2006 relating 10 sn?al1 ¢ompanic%. Approicd by Ordcr ofihc lwd oftrws¢% on 14 Mh ?0?6 aThl %igncrJ on li% ixhalf by.. S Aitk¢n- TNs¢ee Pagr fi
INDEPENDENT EXAMINER
LYD
RT
THE TREEs O
IETY
I rep)rt on the actmIS for the year ended 31 December 2025 set Lmts M pages eight to 5evcntcen.
Re5pectlve re5p•nsibilitie5 of tru51ee5 and examiJKr
The charity5 trusttts are resn51bk for the prcparaiion of the ¢nts in acCd with the tern of lh¢ ajarities
and Trustee Inv¢stsn¢ni {S¢otland} Act 2005 and c?11¢$ AcCow (Scland} Regulati 20( las am¢ndedl. The
charity'$ trustees ¢onsid¢r that the audil wequiremthi of Regulation IOIIKal to 1¢) of th¢ A¢counts Regulalions th)es not
apply. It Is my responsibility lo wmine the aCcOts 85 rquired Und Scction 44(IK¢) of the Act and to state whethtr
parlicular mattcrs have come to my aitention.
Bask of thÈ 1Xdependet ¢xaml#er'$ report
My exAmination was cirried out in accordanee with Regulation I l of the Charitles Accots {Scotland) RegulatiorLS
20. An examination includes a review of xcouniing recor& kept by the charity and a compxison of the a¢¢ow
presented wilh those re¢ord5. 1¢ also irKlud¢s ¢onsiderniion of any unwual ii¢nLS or disclosures in acco¥nts,
sceking ¢xplarwtioTL5 fr(Tr you a5 t$1¢¢5 rorKcrning any fflattws. The wrtedures unthnakcn th no¢ provide 411
the evidence that would requirEd in an and e
CLYDESDALE HORSE SOCIET.Y STATEIIENTOF FINA IAL ACTII'ITIES FOR THE YEAR EINDED 31 DECEhlBER2025 ?0?5 Toial funds 2024 Toial Unrtstricd Ro%lnctcd fUJ5 Noles INCONIE AN'D EYI Dolv]Ey1 ts FROM Donal1($ and Icgxics 29.54) ?2.(KKI 51.547 49,496 Oiher irading aciiyiiics Ini'estnKni ineomc Othet incon $7243 7J66 57.243 7.566 2.326 52.028 7,19? Total 96.677 18.677 108,716 EXPENDITURE OY Raising fvrKL 18,695 3.779 22.474 25,387 Ch#ritgbk actiiilie5 Promoiion of the Clythsdale Brecd $4,013 17.095 71.108 69.860 72.708 93.582 95.247 Net bvains on ini,eMent 24.091) 24.0 7.885 I ET INCONIE Tran$f¢rs behieeA funds 4%.059 12.4(Kbl 1.126 2.4(Kl 49.185 21.354 13 Net moiemthi in fllnds 45.659 3.5?6 49.185 21,354 RECONCILIATIO4 OF FUN'DS Total funds bwughi foni.ard 303.147 6.8?9 309.976 TOTALFUWDSCARRIED FORIIARD 348.806 10.355 359.161 309.976 The tleS fom part of finarKial sraicmcn¢ Pagc 8
LY AL BER2 2025 Total 2024 Total fisnds funds NIKes FIXED ASSETS Investsn¢nts 268.684 205,449 CURRENT A&SETS Stocks Debio Cash at bank aT in haTKI 10 13,639 3.270 W76 13.639 3.270 88,9Jl 11.658 3,198 104.553 IOJ55 95.485 IOJ55 105.840 119,409 CREtMTORS AnThits falling due within OTK yfdr 12 (15J63) (15.363) 114.8821 NET CURRENT ASSETS 80.122 IOJ55 9YJ,477 i¢M.527 TOTAL A&SETS L&SS CiIRRENr LIABILITILS 348,8(15 IOJ55 359.161 309.976 NET A&SETS 348,8Ch5 IOJ55 359.161 309.976 13 unSt£t fLmds Re51ricted fvnds 348.806 10.355 303.147 6,829 TOTAL FUNDS 359.161 309.976 Tht eharitsble eompany is tntiiled to cxemption from I111 unthr Scction 477 of the ComrMDi¢s Act 2006 for the year etthd 31 Decemttr 2025. members have not required tlK cornpany to L4)tsin an dj1¢ of its finartcial statcmenls for the year ended 31 DeCemr 2025 in acconlantt with SectiOA476 of the Companic5 21¥A. The tNsttts acknowledge their reSpsIbIlitI¢$ for (a) ensuring that the charitable company keq>5 acC)Ilg that comply with Sections 386 and 387 of the Comp2nies Act 2ffl6 and preparing fin]81 statemettts whitb giv¢ a ttue and fair view of the stalt of affaits ofthe Charithble company as 8t the end of cach financthl year and tsf its SUTplus defi¢ii for each financi ye4r in accordance with the Tequiremenis of Seclions 394 and 395 aTrJ which Otherw cO1Y with tht WUiT¢nKDts of the Compnies A¢1 2(K)6 lating to financial $tstemenl& so far as atvlicable io the ¢haTitabk ZThpanY. Ib} conttnued...
LYDESDALEllQRSE SQCIETY LAliCE SHEET- ¢oD11e JI DECENIBER Thcsc financial siaterncnLS have pTed in iilth rKolisJ¢x applicablc to charitsblc con)panic> subject to Ihe %mall CpanIeS rcgimc. Th¢ financi31 statements u'ere appTOi'cd by &)ard of Trus1tt5 aThJ au¢howis¢d for isw on 14 March 20?6 and lic $18ncd on ti% haIr by.. S Aitken- Tru¢¢ J Anderson- Trnsiee The notÉ% fwm part finaftcial llennts Pag¢ 10
CLYDL8DALE HOIL8E SOC_IETY OTES TO THE FINAN EME ACCOUNTINC POLICIES Ba9 of prepA¥fjng the finandl stltments The financial 5talcTnts have been pffpated (¥) the hiaori¢al bgSi& The financial staments wcsentcd in Stcrlin81£1. After rcvi¢wiDg the dwity's tojettils. the InttS have a re&wnabk exCt8110 thai the ¢harity has adequa resources to continue in operdtional existence for the foreseeable fvnue. Tr ¢hariry therefore continue5 adopt Ihe going concern trAsis in tttparing its fula1 statemrn Income All income is reco8nised in Ihc Statcmeni of FinarKial A¢tivities once the charity has lieMen1 to the fun(Ls. it is probable thai the itt¢ome will bt e1ved and the anM)uni caft1 mcasvred reliably. Exp¢ndltur¢ Liabilities are recoBnLsed as expenditure &$ %KJn &% there is a Ic8al or COnstn¥¢ (lig81ion ¢ommitting the charity to thai expendiwre. ii is probable thai a trartsfer of economic knKfits will be Trquired in settlement and the arnounl of the obligatioth ¢an measur&fj r¢liabiy. EX[thlitt is accounted for on an 8ttn]aL% basis and has been cla55ifLed Ulder headings thot aggregate all ¢0# reiat¢d tti ¢aLegory. Where costs canrK>t be dirtlY attributed to trticuiar hcadings thry hjvc bccn allrxatd to a¢tivities on a b9$ consis1 with the use of resour¢es. Tngib]e fixed 55ell tkpreciation is provided at the foljowg annual rntcs in Lythr to write off each asset over its ¢5timated useful life. Plant and machincry Office Equipmenl Comput¢requipm¢nt 2fi on ¢0 33Y• on cosl /• on tosl Stoc Stocks are valued at Ihe lower of crtst and net rtalisablc vahx. after making allowonce for ob501ete and slow moving i¢¢ms. Tx#tiOD The charity is eXern froMc0)r4tlon tax its chuitsblc xtivilic5. eeonfln8 Unrestricted fund5 can Ix u5cd in Xc0rd with the Clthritsbk tie£lIVeS 41 the dis¢r¢tion of the trusttts. Restrittrd fut)ds caft only be for particular rcstri¢tcd pUryX withirt the objects of ihe charity Restrictions #rise when specified by the th)01 tlw taised fPartiCularr¢rIC¢cd FWS. Furth¢rexpianation of the nalure atwj wrMJse ofe&h fiu41 is inchthj in the nos ty the financial statements. P#don tosts ad other pos¢.r¢tlr¢Th¢nl lJeAellts The charilabk company erdt¢S a defi[d witrilmrtim s¢hem¢. Contributions payable 10 Ihe charimble ¢ompanys wlon gheme are char8ed to the sement ofFinan¢ial Aciivilies in the to which they relate. Flnrtti#l in5trwmtnts Ihe followin8 se1S and liabilities classified a5 finala1 twade debknrs. tf Crcdiknrs Ind other Ifmns T¢¢eivabl¢. Trade rcceivablcs. trade ableS Me4Wr ai yndixow)ted amount of the c4sh or othcr c0rn5iderdlion expected to be paid or received. Pa8ell t¢tinued...
CLYDESDALE HOILSE SOCIETY NOTES TO THE FINAJNCIAL STATEIIEINTS- ¢onih)ued FOR THE YEAR EYDED 31 DECEIllBER Z025 ACCOUNTING POLICIES- tomlinutd Flnanci•l instr#menis Financial asseis Ihai are mcasurcd ai ro4 avd amowtss¢d ¢w aw asscss¢d ai Ihc C1 of vach accountin¥ penod ror Ob¢11.¢ c%'idcrKc of impg1rn)eni. If obJcrlLl¢ ¢l'itkn¢¢ of impaimieni is found. an impaimicnl loss is rttogn15ed in the profil Jnd loss. OTHER TIL4DING ACTIVITIES 2025 2024 Winter Fair Promotional GdS Sales EX & P¢di¥r¢¢ C¢nificai Siud Book Fccs & Salc5 Passport INomc Rafflc Incotnc Fundraising In¢(rt DNA IrKomc uciion ProccciL% 4.272 13.891 4,680 14.331 2.307 8225 6.(H5 3,385 8.970 4.085 5.975 3.343 lo.0 3.430 5,0(Kl 57.243 52.028 INVESTNIENT INCOhlE 20?5 Income from Inv¢stm¢nts Iniero41 rcccii'ablc. ttadin 7.053 513 6.367 825 7.566 RAISING FUN'DS Ini'estment nian3gemenl cost5 20?5 20?4 Portfolio mortage1Ml 655 634 NET IliCOIIEIIEXPEYDITURE) Ncl incoTne.{cxtdil1iTtI 18 alcd aficr char¥in8.'Icrediiin8)' ?0?5 S]s on disrA)sal orrixcd 2.3261 17 conlll1lI...
CLYDESDALE HORSE socirry ATEMEpifs- tODtkn•ed TRUSTEES, REMUNERATION AND BENEFITS There wer¢ no Injsiees. remuneiation ¢x her benefits foT the ye4r end 31 Dttern 2025 nor for the yfdr ended 31 December 2024. TThstees' expensej The were th) mLes' eXpenS tAid for the )rar cth 31 DcccTth 2025 Th)r for tlr year ended 31 December 2024. COMPARATIVES FOR THE STATEMEWTOF FINANaAL ACTIVITIES UnTe5tricted Re5tri¢t¢d fjjnds To¥1 fvnds INCOME AND ENDOWMENtS FROM Donations4nd legacies 27.496 22.0 49,496 her tradbng xlivities 52,028 7,192 52.028 7.192 Tvt•l 86.716 22.000 108.716 EXPENDITURE ON Raisin8 fvnds 21580 3.807 25J87 Charitable i¢¢Mtks Promotion of Ihe Clyd¢sdale Br¢¢d 51297 18563 Tot1 72,877 22.370 95247 88inson Lnvestments 7.885 7,885 NET INCOMEIIEXPENDITiJRE) Tr•nsfers betwttn funds 21.724 (2,4) (370) 21 J54 Net mov¢nwit kn funds 19.324 2.030 21.354 RECONCILIATION OF FUNDS Twl fijnds brought forward 283.823 4,799 288.622 TOTAL FUNDS CARRIED FORWARD 303.147 6,829 309,976 Pa8e 13 continu...
LYDESDALE HOKSESQCLET! YOTES TO THE FINANCIAL ST ATEMEYfs- ¢•ntlnued OR R EliDED 31 DECEIIBE TAN'GIBLE FIXED AsSs Plani and rnachi Office Iquipmcni Coinpuicr cqu1pftThl Tothls COST Ai l January 2025 a1 31 tkccmkn 2025 &931 2,260 5.294 16.485 DEPRECIATION, At I january 20?5 aJMI 31 tkcember ?0?5 8.931 2.?fAJ 5.294 16.485 YET BOOK VALUE Al 31 Dcc¢mb¢r 2025 At 31 DcccmiKY 2024 FIXED ASSET INVESThlEwrs Lisied ini'csTIllt IIARKET IFALUE Ai l January 20?5 Addilion% DL%posals Rcialu%iiions ?05.449 39.819 24.047 Ai 31 Dc¢¢mb¢f 2025 268,684 NET BOOK I'ALUE Ai 31 DcCCnir ?015 268,684 At 31 t¢¢be1 ?0?4 205.449 20?5 ?68.684 Mark¢t ialu¢ of ini'e4ments ld iVLthLn UK 205,449 Markci la1 of imcstn*nts hcld outsi¢k ihc UK Jam¢s_Benncll Inleent% 41.521 {2024 42.6531 Barrlay% Chanty R DiriblI0n GBP 63,398 57.838 Iher In% Imen 137.6R612024 IOS.8581 Barclays Chariry R Diqritrmmbon GBP 147.&1 Cost or i'aluaiion ai 31 tkeemE&Y ?O?S is rLTArRentcd ty. Lisicd ini'¢simcni Valyation in ?0?5 ?4,047 244.637 268.684 14 conlinucd
CLYDESDALE HOILSE S(1 NOTLS TO THE FINAN FOR T IAL . contined BER 20 STOCKS 2025 2024 StrKs 13.639 11,658 DEBTOKS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2025 2024 Trade debkw5 Prepayinents 1,599 1.671 1,018 2,180 3270 3,198 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Accruals and defelred income Accnrd cxpenses 2,375 12,507 15.363 15 J63 14.882 13. MOVEMEfT IN FUNDS Net Transfers At 311125 At 111125 UnrÉstrkted Genernl fiThl 303.147 48.059 (2.4) 348.806 Restrlrt¢d fuDd$ Horse Racing Board Gra Gerald Fallowes Bquest Reven (1,5N) 1630 2.695 5.030 1,126 10355 TOTAL FUNDS 3(WJ.976 49.185 359.161 Net nVerne in fund& itKluded in tk aknve a follow5". IoMI Ke1rCes Gains and resLwr¢¢s ¢xpended Movement in fijnds Unre•tri¢ted fvds General fiwld 96ffj77 (71708) 24.090 48.059 Restrkt¢d (4Ads Horse Racing Board Grant Gerald Fallowe5 Bequest Revem li( 10,[ (13.SiNI) {7J70) (1,5041 2.630 22.CK) (20.874) 1.126 TOTAL FUNDS 118,677 {93.582) 24.090 49.185 Pa8e 15 continued...
CLYDESDALE HORSE SOCIETY OTES TO THE FINA IAL TEAIENTS- contlnTAed FOR THE YEAR EYDEDJI DE F.NIBF.R 2015 13. IOI'E%IETriT IY FUYI DS- coAiltswed Comp#r*ihv for moi'emenl fund5 Nct moi'emenl in funds Trnnsfcrs Ar 31'12.'24 At l..1.24 rKIs Unresirkled funds Gcncrnl fvnd ?83,823 •1.724 12.4(M) 303.147 Restritled funds Hors¢ Ra¢ittg Board Grani Gcrald FalloiiE% Bcqueo Rcvenuc Gerdld Falloi%s Ca1)1 GrJt)i 785 4.013 IlJ871 1.017 2.4(NJ 1,798 5.030 4.799 13701 6.829 TOTAL FUh'DS 288.622 21,354 309.976 ComporatLI'C nct Tnoi'wncnt in fun&%. ]ld¢d in thc aboY¢ ore as follmis: Incoming Rcwur¢es cx Gains arwj losses Movemeni in funds Unre5tricied (uthils General fu 86.716 172.877 ) 7.885 21.724 RrItted funds Horse Ra¢iiig Board Grani Gcrdld FJlIOTr Bcqucli Rticnue i?.0( 10.( {13.3871 18.9831 11.3871 22.(NMJ 3701 13701 TOTAL FUNDS 108.716 195.2471 7.815 21J54 A C{ ycar I ? months arKI prior y¢aT I? nM)nth% combined p)SIt Js as follows". TrarL%fcrs ii%een moiemcni in At 31.'12.'25 Ai I'1.'24 Unre5trlcted funds G¢n¢ral ftstml ?83.8!3 69.783 I4.8) 348,806 Re51ri¢ted funds Horsc Racing Board Grani Gerald Falloil'cs Bcqueir Rcvcnuc G¢rald Falloi¥s Capiial Grdni 785 4.013 12.891) 3.647 4.800 7,660 756 4,800 10,355 TOTAL FUYDS ?88.6?? 70.539 359.161 Pag¢ 16 tlIn¢..
CLYDESDALE NOE SOCI NOTE TE ENT - continued 13. MOVEMEMT IN FUNDS-fomtiAwd A curreni year 12 aAI year 12 months Combll rtye in fur¥M irt¢luded in the alx)ve are as follows.. Incomin8 Gains and Movement in fiJThJs cxpcn¢kd Unrtstrkted funds Genernl fjjnd 183J93 (145.585) 31,975 69.783 Restrltted fvnds Hotse Racing Board Grant Gerald Fallow¢s Bequest Revem 24.( 126.891) 116.35J) (2.8911 3,647 143244) 756 TOTAL FUNDS 227J93 1188.829) 31.975 70,539 14. RELATED PARTY DISCLOSURES Ther¢ were no related parry tranSXtio for the ytar eThkd 31st tkcember 2025 and 31st DecemF*r2024. P•8e )7
ETAILEDST.ITE4IEYTOF FINANCIAL ACTII'ITIES E R ENDED I DECEIIBE 1015 20?4 lINColE AIND EliDOIVIlIEPs Donalions and legeies Donaiions Gcittld Falloii.¢s Tn Horit Ra¢in¥ Board &ani MtmlKrship SubscnptN)ns Affili3tion Fcc% 46? io.(x)o 12.IK)O 26,(KK) 3.080 1.91 12.0(X) 22.457 3.040 51542 49,496 Other Irdlng *¢ihxties Winlci Fair PTOlTh)(ional GoLxl% Sales Export & Pcdigrcc Ccrtificatc Sd Book Fee% & Salo$ Passport Incomc Raffl¢ In¢om¢ Fundraising Incomc DN'A Income A1011 Pr(eC5 4.272 13.891 2.612 8,7?0 5,975 3,343 10.¢KK 3.430 s.o 4.680 14.331 2,307 8.225 6.045 3,385 8.970 4.OSS 57.?43 52.028 In%'estlllElIt Income Incoine froni Ini'csnncJ115 Inter¢%1 rc¢ciiJble- Irdding 7.053 513 6.367 825 7.566 7.192 Other Gain on of thngibl¢ fix¢d aS>¢iS Tot81 intomillg resources 18.677 108.716 EXPEliDITURE Rslsing donations and legacies Proii%ion for Pniiting Promoiional GL Winier Fair DN'A Exndir¢ Expcnditure 779 6,795 7.765 3.771 2.709 807 7.898 7,951 4,530 3,567 21319 24,753 Ini'esiment m#n4tm¢nt ¢OM5 PortfolLO managcillCIII 655 634 ChArliablt X¢liiitie5 Sc¢relary'% Rcfftun¢ration Carried forM'.Ird 32.076 32.041 3?.041 Thls pa&ie fom) part of Ihc siattitory financial stameI Pagc 111
CLYDESDALE HORSE SOCIE DET IL F FINAN AR ENDED IDE IAL ACTIvlEs EMBER 201S 2025 2024 Charil¥Jbk adivilies Brought fonvard Secreiary & Exewiive Commite Exw Insurance Breed Improvement ExrKn5C5 Postages and Teleph( Prit)iin8 & sialiontry Advertisin& Prizes & Slk)w Exl$eS Miscellaneous Exp¢ns Sponsorship Computer and website co5 Siorage Costs Showing clinics 32,076 1,433 1.469 9225 4J14 3.348 4,887 455 4.171 5,537 501 32.041 1.566 1.469 9,080 4.829 3,416 6.025 591 4.450 2 J64 501 67.916 66.473 Support ro5ts Governtt¢e e•sts Accountsney fees Mttiin8 expenses 2.640 552 487 3.192 3,387 Totsl ourc¢S eXded 93.582 95.247 Net ID¢ome before gAIDs Ind losses 25.095 13,469 Reallsed retognised E*in5 aDd 1055es Realised and unttalis¢d gal lo&ses f a inVement 43 Net 5n¢ou 25.138 13.475 This tA8e dl5 fLTh partof the statytory financial 513tements Pag¢ 19