REGISTERED COMPANY NUMBER., SC219601 lswtlandl
REGISTEIIED CHARITY NUMBER.. SC022355
Report ofthe Trustees and
Flnanclal Statements forthe Year Ended 31st December 2024
for
Black Isle Farmers, S￿Iety
Frzme Kennedy Ltd
4th Floor Metropolitan House
31-33 kligh Street
Inverness
IVI IHT

Black Isle Farmers, Soclety
Contents of the Flnan¢lal Statement5
for the year ended 31st December 2024
Pa¥e
Report ofthe Trustees
Report of the IndepeDdentAuditors
6 to 9
Statement of Flnan¢lal Actlvltlès
io
Balance Sheet
li
Cash Flow Stattment
12
Note5to the Cash Fl¢)w Statemènt
13
Note5to the Flnanclal Statements
14 to 24
Detalled Statementijf FlnanclalActlvltlès
25 to 27

slack Isle Farmols, So¢lety
Report of the Trustees
lor the year endtd 31st December 2024
The trustees who are also director5 tsf the charity for the purpose5 01 the Cornpanle5 Act 2006, present thelr report
wlth the financial statements of the charity for the year ended 31st December 2024. The trustees have adopted the
provisions of Accountin8 and Reporting by Charities= Ststement of Recommended Practlce èpplicable to charitie5
preparlng their atcounts in 8ccordance with the Flnancial Reportlng Stsndard applicable in the VK and Republic ol
Ireland IFRS 1021 (effective l January 20191.
ObjÈrtlvè5 and actlvltles
Objectives and alms
Black Isle Farmers exlsts io promote the Interests of farmln& agrfculture and the country51de to the general public
wSth the main medium for this beln8 the annual Black Isle Show, held on its purpose-bullt permanent site at
Mannsfteld, Mulr of Ord on the f5rst Thursday In Au8USt each year.
Other annual events normally include,. a ploughing match held on Black Isle farms on the first Saturday of February,. a
b3rbeque on the second Saturday in July.. a trophy presentatlon, dlnner and dance at the start ol November,. a dlnner
for Past Presidents and General Commlttee members In December.
In addltlon. many mernbers ol the Society contrlbute theii tlme, Èxpthence and expertlse In educating primary school
children In conjunttion with RHET (Royal Htghland Education Trustl through vlslts to local schools and more notably
slnce 2(￿9 the So¢lety hosted an event In June where around 300 chlldren visit Mannsfield Showground and are
shown all aspects of rnodern farmin8 practlces by means of practlcal demonstrations 8iven by Society members.
Thts has not been posslble slnce Covld-19 due to various restrictlons.
Since 2014 thls eve#t has gr<Mn due to its popularity and now takes place overtwo consecvtive days In late May/eady
June.
Durlng the annual Black 151e show the General Committee members, volunteets and Trusteés undertake an education
and advlsory role wher@ they are clearly Identlfiable to the public
The tharity will continue to make contributions to the work ol educational trusts such as the Northern Countryside
Inltiative, RHET (Royal Highland Educational Trust) etc where their work and objective5 are slmilar to that of the Black
Isle Farmers. Society.
The Trustee5 inaugurated a Bursary Scheme in 2014 which 15 avai13ble to students and young petrple frorn the
Highlands and Island5 to study and gain 9￿alIfiCatIOnS in a rural or agricUltu￿11Y related sublect. Practlcal and
vocatlonal COUTses are alsg considered for an award from this fund. The Bursary Scheme awarded £2200 Sn 2024
1É4508 In 20231, to encoura8e Bnd help students and young people in these dlffScult tlmes. 2024 saw seven
appllcations.
The policy of the General Committee and the Trustees is to improve for the benefit of the visitln8 public the facllities
avail3ble to them on the permanent show-lield at Mannsfleld. This programme of capital InvestmÈnt has amounted to
Dver £1.600,000 in the last 16 years vlt
buildlng 3 permanent tollet blocks, tarrlng all ihe previously metalled
roadways, building 7 purpose bvllt sheds to offsèt the rlsln8 annual tosts of marquee hire. builéing permanent
pay-booth5, purchaslng and upgradlng cattle and sheep Bate5, InSt211ation of permanent electriclty supplles.
Installation of solar panels and many more capStal Items to make the Society more self-suffitient and help with future
pioofing against f15in8 COSt5.
Contributlon made byVoluntÈer5
There are many volunteers, members DI the Society, General Committee members, Trustees and othets who 8lve
freely of their time to run the è¢tivities of the charity. The tlme and expertise, whlch they Ireely give, benefits the
charity flnanclally and this allows the charlty to achieve a surplus which can then be Spent on achlevin8 Its objectives.
In 2019 the contribution made by these volunteers to the many projects undertaken has been estimated in terms ol
costs Saved of around E60.000 in term5 of time 8lven. expertlse and machlnery and equipment contrlbutSons.
Pa8e I

Black 14e Farmerf Soclety
Report of the Trustèès
for the year ehded 31st 0Q￿rnber 2024
Achlevèments and performance
Athlevements and performantt
previously mentioned, the charlty has Improved Its facilltie5 greatty over the last 20 years. These Improvements
have added to the enloyment of the annual Black Isle Show by the general public and to ensure their contlnued
attendance. In thls current year there has been no ¢apltal expendlture but the￿ is always ongolng maintenance and
repair5 whlth has to be undertaken to ensure that the condltion of exlsting capital equlpmeni Is kept at ? hlgh
standard for future years.
Flnan¢121 revlew
Reserves pollcy
The trustees constsntly monitor the cash reserves and have agreed that this fi8urp should not fall below £170,000.
This is the amount ol money that the trustees estimated it would cosi in unrecoverable fees and servitrs if the Black
151e Show had to be cancelled lor any unforeseen ¢ircum5tances In the lead up before the show. The present level of
undesignated unrestricted resetves availèble to the charity are £714,16312023 £656.5251 which includes tangible
rixed asset5 to a value OF £350.51612023 £361,628). Thls leaves liquid re5eTves of £277,105 12023 - £214,098) at 31
December 2024
Fulure plans
The Soclety ha5 Invested In dedlcated Ilve5tock exhlbluon sheds and ihls h3$ attracted caitle and sheep breed
socletles national shows"
Cattle breeds -Llmovsln, Aberdeen Aneus, Hlghland and Slmmental. Charolais in 2017,.
and Hlghland Sn 2018. Sheep breed5- North Country Chevlot, Zwartbles, Ja¢ob, Blue Faced Leicester and Beltex. The
bullding of these faciliti& has helped to at least maintain cattle numbErs tomSns forward to thè Show but 5P@olically
has helped to
increase numbers of Sheep entered.
For 2018 the commlttee agreed that the 5oclety should have a local cattle class thereby en¢ouragln8 competltors who
arÈ local Soclety mernbers. In 2024 the Society On￿ again held a "Trartor Push" competltlon cn the Wednesday
evenlng prior to the Show hopefully attractlng teams of 5 people from local charltles and volunteer 8roups and the
Society h85 Put up a prize pot to the winneT5.
Followln8 two cancellatlons due to Covid-19, Ihe 2022 show was able to be held, and Saw a healthy feturfi to as manv
of the previou5 activitie5 as posslble.
The trustees continue to maintsin a close watch on cost5 and income streams anil trersds durlng 2024. and Into 2025.
Siru¢turei governancè and M￿ageMent
Govemlng document
The tharity Is contmlled by Its governlng document, a de￿ of trust, and constitutes a Ilmlted company. limited by
guarantee, as defined by the Companies Act 2CIJ6.
The organisation is a charitable company limited by guar8nteÈ. The company was established under a Memorandym
and Articles ol Association whl¢h established the oblects and powers ol the charStable company and Is governed under
it5 Article5 of As$Dclatlon.
Page 2

Bla£k Isle FarmÈrs' Soclety
Report of the Trustees
for the year ended 31st December 2024
Structure, governan¢e and manogemet)t
Re¢rultment and aPPDiritment of new trustees
The trustee5 are ele¢ied by the members ol the General Committee, whlch number$ 65 people. The trustees serve
term which is set down at number 51 in the Article5 of Assoclatlon. At General CommSttee meetlWl85 ihere are around
30 members present.
Trustees serve on the General Committee for a n￿mber of years to familiarise themselves as to the running of the
charliy. When a cèndldate shows aptitude and Is willlng to serve as H trustee then th￿ are proposed at the Annual
General Meeting to the post of Junlor Vlce President which is the first"runB" of the mana8emeDt ladder.
The board ol trustees, whlch has 11 rnembers, administer5 the charity. The board meets regularly as and when
required. There are svb-committee5 covering ploughing match, horse, live5totk, capltal Improvements, show8round
etc. An adminlstrator has been ernpltsyed by the Society on 3 year to year basis to manage the day ro day operation5
of the charSty. To facilitate effective operatlOn5, the administrator, wlthSn terms of delegation approved by the
trustees, lor operational matter5 induding finance, engagement of contractors and 5ervlces supplied to the charlty.
Rlsk managemènt
The trustees have a duty to identify and review ¢he iisks to which the charfty is e¥posed and to ensure appropriate
controls are In place to provlde reasoDable 355uran¢e a8alnst fraud and error.
The trustees have a rSsk management strategy which ¢omprlses'.-
- an annual revlew of the risks the charlty may face,.
- the esiabllshment of systems and procedvres to mitigate those rlsks Identified in the plan,. and
the Implementation of procedures designed to mlnimise any potential Impact on the tharlty should those rSsks
rnateilallse.
This work has identified only a few minor new risks but it has resulted In better emergency procedure5 an
contln8en¢y plans and ha5 given the impetus for better plannlng. Partlcular attentlon has focused on non-flnantlal
rlsks arising from lire, health and safety of the public at the Black Isle Show wlth the appointment of & Health and
S3fety speclalSst flrm who provlde the expertise In thls field. A key element in the management of flnancial risk 55 the
settlng of a resewve5 pollcy and its regular review by trustees. The maln risk to the charity has always been the
potentlal cancÈllailon of the Black Isle Show at the last minute due to circumstances out with the control of the
trustees such as weather, outbreak of disease, natural disasters etc, when all the 5eFvi¢es have been engaged and pald
lor and no refund5 can be obtained. Thls amount was prewou51y estimated at around £170.000 oThd is constantly
under review which has helped the twstees minimise thè position they found themse￿eS in during thls financial year
when Covid 19 forced the ¢antÈllation of the Show In August 2020 and August 2021.
RefÈrèn¢e and admlnlstratlve details
Registered Company number
SC21960115cotlandl
fleglstered Charlty number
SC022355
Registered offitè
4th Floor MetropolStan House
31-33 Hlgh Street
Invernes5
Inverness-shlre
Ivi IKr
Page 3

Blatk Isle Farniers, Soclety
Report of thè Trustees
forth• year ended 31st December 2024
Yrustees
A D Gammle IresSgned 31.12.20241
T Henderson
D M3cleod
l Mccallum (resigned 31.12.20241
F Mcken2Se (resigned 31.12.20241
D J Mckenzie (resigned 31.12.20241
JGMair
C C Nlcol
J M Cameron
D H M8clver
A Grant lappointed 29.1.20241
N J Maclver lappointed l.1.20251
S K MacLennan (appointed l.1.20251
G A Maclver lappolnted l.1.20251
Audltors
Frame Kennedy Ltd
4th Floor Metmpolltan House
31-33 High Street
Inverness
Ivi IHT
5t*ement of tru5tees' re$poDglbllltles
The trustees (who are also the dirertors of Black Isle Farmer5, So¢lety for the purposes of tompany lawl are
respon51ble for preparing the Report of the Trustees and the flnancial statements In accoidaD¢e wlth appllcable law
aThd United Kingdom Accounting Stafidards Iunlted Kln8dom Generally Actepted A¢countlng PrartI￿).
Company law requlres the trustee5 to prepare flnancial statement5 for eaih financlal year. Under that law, the
tr￿Stee5 have elected to prepare the flnancial statements In accordance with United Kin8dom Generally Accepted
Accounting Prattlce Iunited Klngdom Accountln8 Standard5 and applicable lawl.
Under company law the trustees must not approve the flnanclal statements unless they are sa￿5r1ed that they glve a
true and lair view of the 5tJte of affalrs ol the tharitèble company and of the IncotnSn8 resources and appllcation of
re50urce5, Including the Incorne and expendlture, of the charltable company for that period. In pieparln8 those
financlal statement5, the trustees are required to
select sultable accountlng poSicles and then apply them consistenily..
observe the methods and prinaple5 in thÈ CharStles SORP;
make ludgements and estimates that are reasonable and prudent.,
prepare the financlal Statements on the golng concern basi5 unles5 It Is Inappropriate to presume that the
charitable company will ctsntinue in buslness.
The tru5tee5 are responslble lor keeping proper actountln8 ￿cordS whlch dlsclose wlth reasonable accuracy at anv
time the Ilnanclal Position of the charltable company and to enable them to ensure that the linan¢Sal st4iements
comply with the Companles Act 2(X)6. They are also responsible for safeguarding the assets of the charitable company
and hence lor taklng reasonable steps for the preventlon and detection of Iravd and other Irregularlties.
In so far as the t¥ustees are aware..
there is no relevènt audit information of whlch the charltable tompany's audltors are unaware; and
the trustees have taken all steps that they ought to have taken to make themsefves awa￿ of any relevant 3udlt
information and to establish thatthe audltors are aware of that Information.
Pa8e 4

Black Isle Farmers, Society
Report of the Tryslees
for theyear onded 31st DÈcember 2024
Auditors
The auditors, Frame Kennedy Ltd, will be proposed for re-appointment at the forthcornin8 Annual General Meetlng.
Approved by order of the board of trustees on 18 December 2025 afid slgned on Its behalf bv..
GAMa
r- Trustee
Page 5

Reportotthe Independent Audltor5to tht Trustees and Members of
Black Isle Farmers, SDclety
auallfted oplnlon
We have audlted the ffnanclal statements of Black Isle Farmer5, Society Ithe"th8ritable company") for the year ended
31 December 2024 which comprlse the Statement of Flnancia1 Activities, the Balance SheeL the Cash Flow Statement
and notes to the fSnanclal statements, Includin8 o summ8ry of significant accountlng poll¢les. The financial reporting
framework that has been applied In thelr preparation 15 applitèble law and United Kingdom Accounting Standards,
including FR5102 'ThÈ Flnanci81 AÈporting Standard appllcable in the UK and Republic of Ireland" Iunlted Kingdom
General Accountlng Practicel.
In our opSnion, except for the matter descrlbed Sn the 8asis for qualllled oplnion sertloD of our repDrL the finan¢lal
ststement5'.
glve a true and falr vSew of the state of the charftable company'5 affair5 as at 31 December 2024 and of its
incomlng resources and applScation of resourtes, intluding its Income and expenditure, for the year then ended..
have been properly prepared in accordan¢E wlth United Klngdom Generally Accepted Accounting Practice.. and
have been prepared in tctordancÈ wlth the requirement5 of the Companies Act 2006, the Charities and Trustee
Investment (Scotland l Act 2005 and Regulatlon 8 of the Charities ￿COUnt5 (Scotlandl Regulations 2006.
Basis fw qualllled oplnlon
The charitable compaThy's incorne indudes monle5 collected at the gates on the two day5 of thelr annual agricultural
show. As a result of Incomplete and unreconclled gate record5, we weie unable to re¢on¢lle amount5 received frorn
the gates to the records of people in at¢end4nce. We were therefore Unable to obtain sufficient appropriate audit
evldence regardlng the completeness ol thi5 Income. Con5equentlyJ we were unable to determine whether any
adlustments to the recorded amounts were necessary.
We condurted our audit in accordance with Internation31 Standards on Audldng IUKI IISAS IUKII and applicable law.
Our responsibilities under those st3ndard5 are further described in the Audltors, responslblllty for the audSt of the
fi￿ancial statements section of our report. We are independent ol the charltable company In accorC$an￿ wlrh
ethical requirements th)t are relevant to our audit of the flnanclal staternent5 In the UK, including the FRCS Ethlcal
Standard, and the provislons foT small entities, In the circumstan¢e5 set out note 19 to the financial Statements, and
we have fulfilled otsr ethlc31 responsibllitle5 in accordance with these requirements. We belI￿e that the audit
evldence we have obtalned Is sufflclent and appropriate to wcvide a basls for our qualified opinion.
oncluslon5 relatlng to goin¥ ¢Dn¢ern
In auditlng the fInan￿al stalements, we have £ontluded that the t¥ustees' use of the going concem b35is of attountln8
in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not Identllled any mater131 uncert3lntles relatlns to events or
conditions that, Indlvldually or collectively* may cast slgnlflcant doubt on the charitable Company's ablllty to continue
as a Rolng concern lor a pÈYlod of at least twelve months from when thÈ linandal statements are authorised lor Issue.
Our responslbillles and the re5pon5ibllities of the trustees wlih respect to goin8 concern are described In the ￿levant
sectlons of this reporL
Other mètter- tomparatlve Informatloh
The financial statements for the year ended 31 DÈcember 2024 Include comparatlve Informat50Th lor the year ended
31 December 2023. The finanual statements for the year ended 31 December 2023 were not audlted. As such we
do not express an opinion on the prior year comparative Information.
PaBe 6

Report of the Indèpendent Audliors to thè Trusiees and Members ol
Black Isle Farmtrs, Socleiy
Other informatlon
The trustees are re5ponslble for the other Inlormarlon. The other inlormatlon comprises the information included in
the knnual Report, other thèn the financial statements and ou¥ Report of the Independent Audttors thereon.
Our opinlon on the f5nancial Statements does not cover the other informatlon and. except to the extent otherw6se
expllcitly stated In our repon, we do not express any form ol assurance conclusion thereon.
In connertlon with our audit of the financial ststements, our responslblllty is to read the other Inforrnation and, In
doln8 SO, COll5ider whether the other Information is materially Snconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially mSssiated. If we Identify such materlal
Inconslstencies or appaient materlal misstatements. we are requlred to determlne whEther thls glves rise to i
material misstaternent In the financial statements themselves. If, based on the work we have perforrned, we conclude
that there 15 a material mlsstatement of thls othei information, we are required to report that fact. We have nothing
to report in thi5 regard.
Oplnlons on other matters pre5crlbed by the CompanlesA¢t 2006
In our oplnion, based on the WDrk undertaken in the course ol the audit..
the inform/tSon 8lven In the Report ol the Trustees for the finan¢Sal year for which the flnan¢ial statemenrs are
prepared Is consistent wlth ihe Ilnanclal statements,. and
the Report of the Trustees has been prepared in accordance with applicable legal requlrements,
Matters on whlch we are requlred to report by exceptlon
Except lor the Matter described in the Yasis for qualified oplnlon sectlon. In the Ilght of the knowledge and
understanding ol the charitable tompany and Its envlronment obtalned In the course of the 4u(fit, we have not
identilled rnatÈdal misstatements in the director5, report, 5ncluded wlthln the Report ol the Trusiees.
ArisiTrB solely from the limltation of scope of ourwork reladn8 to 8ate Income referred to above-.
we have not obtalned all the InforrnatSon and explanatlons that we cons¢dered necessary forthe purposes of our
audlt; and
we were unable to dete¥mlne whether adequ3te ac¢ountinB records had been kept.
Except for the matier descrlbed in the Basis for qualified oplnion Section. we have nothlng to report In respect of the
following matters where the Companles Act 2006 the Charities Accounts IScotl8ni41 RegUla￿onS 2006 requlres u5
to report to you if, in our opinion..
returns adequate and proper or our audit hwe not been re￿1Ve￿ Imm branches not vlslted by us,. or
the fln8ncial staternents are not In agreementwlth the accountln8 records and ￿turns,. or
certain disclosures of trustees, remuner8tion 5pecilied by law are not made.
the trustees were not entitled to tske advantage of the 5rnall companies exemption from the requirement to
prepare a Strate8lc Report or In preparing the Report of theTrustees.
Responslbllltles of trustèes
explained more fully In the Statement of Trustees, Re5ponsibillties. the tru5tee$ are ￿spOnSIble ftsr the preparation
of the flnanclal statements anil for being satisfied that they give a true and fair view, and for such Internal tontrol as
the trustees determlne is necessary to enable the preparation of financial statements that are free from material
mlsstatement, whether due to fT¥ud or error.
In preparing the financlal statements, the trustees are responsible lor assesslnE the ¢haritsble company's ability to
continue as a going concem, dls¢losing* as appllcable, matters related to going concern ènd tjslng the going concern
ba515 Df accounting unless the trustee5 either Intend tts liquldate the charitable company tsr to cease operation5, or
have no reèlistic alternatlve but to do so.
Page 7

Report ofthe IndependentAudSior5 tothe Trustee$ and Members of
Black Isle Farmers, So¢letv
Our respon$5b115tles for the auditof the IFnanclal statements
Our objectives are to obtaln re8sonab1e assurance about whether the financial statements as 8 whole 3re free from
materi31 misstatement, whether due to fraud or error. and to Issue a Report of the Independent Auditors that Includes
our opinion. Reasonable assurance is a hlgh level of assurance, but Is not a guarantee that an aud5t conducted in
accordance wlth ISAS IUKI will always detect a materlal mlsstatèment when It exists. Mlsstatements can ar1se from
fraud or error and 8re considered materlal Sf. indlvidu311y or In the agEr￿ate. they could reasonably be expected to
influence the econornic declslons of userg taken on the basls ofthe5e finandal statements.
The extent to whlch our procedure5 are capable of detecting Irre8ularitSe5, includlng fravd Is detalled below..
IdentlfylnE and re5pondln8 to ris￿ ol material m15Statements due to fraud
To Identlfy rlsks of material rnisstatement due to fraud I'fraud fSsks"I, we assessed events or conditions that could
indicate an incentive or pressure to cornmit fraud or provlde an opportunlty to Commit f¥aud. Our risk assessment
procedurps Included-.
Enquiring of trustees and management as to the charitable compan¢s pollcies and procedures io
Prevent and detect fraud as well as whether they have khowledge Ol any actual, suspected or alleged fraud.
Readlng committee mitSUtes.
Using analytical pro¢eilure5 to Identlfy any unusual or unexpected relationships.
We communi¢ated identlfled fraud risks throughout the audit tearn and remained alert to any indications of fraud
throughout the audit.
As requlred by auditin8 Standards. we perform procedure5 tu address the risk of management overfSde of controls and
the risk ol fraudulent rÈvenue recognition, In partlcular the rtsk that charilable In<omÈ Is recorded In the incorrect
actounting period. thÈ r15k that management m3y be In a position to make inappropriate accounting entrSes, and the
risk ol bias in account1￿ estlma¢es and judgements.
We dld not identlfy any addltlonal fraud risk5.
We performed procedures Including..
Identlfyinglourrbal entries to test based on risk criteria and comparing the Identified entrte5 to $￿ppOrtIng
docurnentation.
Assessing signllicant accountlng estlmates for bias.
IdentSfylng and iespondSng to rlsks of materlal mis5tatEment due to non-compliance with laws and ￿￿latIOnS
We Identifled areas ol laws and regulations that could re3$0nably be expEded to have a material ellect on the
flnanclal statements from our general commerclal and Sector experIen￿ and through discu55ion with thE trustees and
other management las requ5red by auditing 5tandardsl. We discussed wth the trustees and other management the
policies and Pro￿dureS regardlng compll8nce with laws and regulations.
We communicated identified law$ ￿gulationS throughout our team and remained alert to any Ind1£a￿onS of
non-complianee throuBhout the audit.
The potential effert of these law5 and re8ulations on the financi31 statements varles conslderably.
Flr5tly, the charitable companyls subject to laws 2nd regulatlons that dlrectly affert the financial statement5 including
financlal reportlrsg le8islation lin¢ludlng the Charities SORPI and t8xatSon legislation and we assessed the extent of
compllance with these laws and regulations a5 part ol ou¥ procedures on the related Ilnanclal statement Items.
Page 8

Report of the Independent Audltors to the Trustees and Member5 of
Black Isle Farmers. Sodetv
Secondly, the charitable Company is subject to rnany other laws and regulatlons where the consequences of
non-compliance ¢ould have a material ellect on amount5 or disclosures in the 1Snancial ststements, for Instance
through the imposltlon of lines or Iltlgatlon. We identilled the Followin8 8rea5 as those m051 like￿ to have 3n effect..
health safety, employment law and aspects of company and charity lÈglslation. recognising the nature ol the
¢hèrit3ble ¢ompany'5 a¢tlvities and its legal form. Auditlng Standards Ilrnit the reqvirEd audit procedure5 to idÈntifv
non-compliance with these lav￿ and regulatlons to enquiry of the trustees and other mana8ement and Inspectlon of
regulatory and legal correspondence. If any. Therefore, If 3 breach of operational regulations is not d¢sclosed to us
or evident from relevant correspondenc& an audit w511 not detect that breach.
Context of the ablllty to detect fraud or breaches ol law or regulatio
Owing to the inherent Ilmltètlons of an audlt, there is an unavoidablÈ risk that we may not have detec￿￿ some
materlal rn15Statements In the financial statements. even though we have properfy planned and performed our audit
in aciordance with audlting standards. For example, the further removed non-compliance wtth laws and regulatlons
is from the events and transaction5 reflected In the fsnanclal statements. the less likely the Inherently Ilmited
procedures requlred by auditlTr8 Standards would identlfy It.
In addition. 35 with any audit. there remalns a hlgher risk of non-detectlon of Iraud, as these may involve Collusion,
forgery. intentional omissions. mlsrepresentations, or the overrlde of Internal Controls. Our audit pro¢edures are
designed to detect mateyial m155t8tement. We a￿ not responsible for preventlng non-compliante or fraud and
cannot be expected to detect non-complihnre wlth all law5 and reEulatlons.
A further descriptlon ol our respon51bllities for the audSt of the financlal statements Is located on the Flnanclal
Reportin8 Council's website at www.frc.org.uklauditorsresponslbllltlÈs. This de5CriPtion forms part of our Report of
the Independent Aud5tors.
Use of our report
This report Is made solely to the charltable company's members. as a body, In accordan￿ wlth Chapter 3 01 Part 16 of
the Companles Act 2006, and to the charitable company's tru5tee5, as a body* in accordance wlth Regulat¢on 10 of the
Charities Accounts (Scotlandl RegUla￿on$ 2QD6, Our audit work has been undertaken so that we mi8ht state to the
charitable tompanrfs members and the trustees those matters we are reguired to state to them In an auditors, report
and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the charltable company and the charitable company's members a$ 4 body, lor our audlt work, for this
report, orfor the opinions we have formed.
Stuart Mcmartln B.Sc. FCA15enior Statutory Auditor)
lor and on behalf ol Frame Kennedy Ltd
Eli8lble to act as an ayditor in terms of Section 1212 of the Companles Act 2006
4th FIooT Metropolitan House
31.33 HSgh Street
Inverness
IVI IFIT
Date.. 18 December 2025
Pa8e 9

Bla¢k Isle Farmers. Soclety
Statement of flnanclal Actlvltles
for the yeai ended 31st December 2024
2024
Totsl
funds
2023
Total
fvnds
Unrestf4CtÈd
fund
Restrltted
fund
Notes
Incorne and endowmeJ)ts from
Donations and legacies
2,667
2.667
3,709
Charitsblè a£tlvltlès
General
536.096
536096
450,125
Investment Income
Other Income
5.570
47.675
5,570
47,675
3,945
39,951
Total
592.008
592008
497,730
ExpendlturÈ on
Raisine funds
189
1,934
Charltablt Attivitles
General
539.222
8A97
547,719
491,88S
Totsl
539AIJ
8A97
547 908
493,819
Net galns on Investrnent5
5.041
5.041
6.569
NET INCOMEIIEXPENDITUREI
57.638
18A971
49.141
10,480
Re¢oTh¢lllatlon of funds
Total funds brought forward
656,525
81,657
738,IBZ
727,702
Totsl fund$ carried lowward
714,163
73,160
78Y.323
738,182
The notes form part of these finantlal statements
Pa8e 10

Bla¢k Isle Farmers, Sotrtrtv
Balance Sheet
31st December 2024
2024
Total
funds
2023
Total
funds
Unrestrtcled
fund
Rèstrlcted
fund
Notes
FIKed assets
Tan8ible assets
ItFvestrnents
12
13
350.516
135 209
73.160
423,676
135,209
443,285
127,610
485,7Z5
73.160
558085
570,895
Cuyrent assets
Stocks
Debtors
Cash at bank and in hand
14
2.476
36,172
238 457
2.476
36.172
238,457
4,022
3.187
206,889
277,105
277.105
214,098
Credltors
Amounts fallingdue wlthln one year
16
148.6671
148.6671
146,811
Net cuirènt
228A38
228.438
167,287
Total a55ets les$ current Ilabilities
714.163
73,160
787,323
738,IB2
NET ASSETS
714,163
787
73.160 a23
738,182
Fufids
Unrestricted funds
Restrlcied funds
17
714,163
73.160
656,525
81,657
Total fund$
787.323
738,182
These linanclal statements have been prepared in accordance with the provtslon5 Bpplicable to charltable companles
sublect to the 5rnall companies regime.
The financial staten7ents were approved by the Board of Tiustees and authorlsed for sssue on 18 December 2025 and
were signed on its behalf bv..
Iver- Trustee
The note5 form part of these Ilnancial statements
Page 11

Blatk Isle Farmers. Soclety
Cash Flow Statemetht
for the year ended 31st December 2024
2024
2023
Notes
Cash flows from operatlng a¢tlvltles
Cash generated from operation5
75.217
87.129
Net cash provided by operatin8 activities
75,217
87,129
Cash flows from investing artivitie5
Purchase of tangible fixed èssets
Purthase of fixed asset Investments
Interest received
Dlvldends recelved
146,6611
12,5581
2,S31
3,039
15,5591
12,1391
1,368
2,577
Nel cash used in investlng actlvltles
143.6491
3,7531
Change cash and c35h equlv4lents In th4
reporting peiltsd
Cash and cash equlvalents at thè bèRlnnln8
of the r•portln8 p4rlod
31,568
83,376
lo6￿89
123,513
Cash and cash equlvalents at the end of
the reportln8 period
238A57
206,889
The notes form part of these Ilnanclal statements
Pa8È 12

Black Isle Farmers. Socièty
Notes to the Cash Flow statement
for ihe year ended 31st December 2024
Reconclllatlon of net Income to net cash flowfrom operatinB a¢tlvltles
2024
2023
Net income for the reportlng perlod las per the Statement of FJnan¢lal
Artlviliesl
Adlusrments Iof..
Depreclatlon char8e5
Galn on Inve51rnents
Interest recelved
Dlvldends received
DecreasellitTrcrea5el in stocks
Increase in debtors
Increase In creditors
49.141
10,480
66,270
15,0411
12,5311
13,0391
1,546
132,9851
59,6B4
16,5691
11,3681
12,5771
12,3821
11411
30,002
Net ¢ash provided by operatlons
87,129
Analysls of than%es IM net funds
At 111124
Cash flow
At 31112124
Net cash
Cash at bank and in hand
206089
31,568
238A57
206,889
31,568
238
Total
lo6￿89
31,568
238,457
The note5 form part ol these financlal statement5
Page 13

Bladt Isle Farmers. 5oclety
Note5 to the Flnancial Statements
for the year ended 31st December 2024
Accoun11#8 pollcles
B3515 of prÈparln8 the ￿nancIal slatements
The financial Statements of the chzritable company. which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charltles SORP IFRS 1021 'A¢tounting and Reportlng by Charities.. Statement
ol Recommended Practice applicable to charitles preparing their accounts In actordance with the Financial
Reportlng Standard appllcable In the UK and Republic of Ireland IFRS 1021 lelfective l January 20191,, Flnanclal
Reporting Standard 102'The Financial Reportlng standard appllcable In the UK and Republlc ol Ireland, and the
Companies Acl 2006. The financial statements have been prepared under the h5storical cost conventlon, with
the exceptlon of Investments which are included at market value. a5 modified by the r￿aluatIOn ol certain
assets.
The Ilnancial st8tement5 aTe prepared In stÈrfSn& whlch is thé functSonal currency of the entity.
Flnancial instruments
A financial asset or a flnanclal Ilèblllty Is recognlsed only when the Charlty becomes a party to the contractual
provlslons olthe instrument.
Basic financlal instruments are Inltlally reco8nlsed at the amount receivable or payable in£luding any related
transactloll Costs.
Current asset5 and current 11abilitie5 are 5ub5equendy measured at the cash or other conslderation expected
tLI be paid or received and not discounted.
Debt Instruments are Subsequently measured at amortlsed c05t.
Where Investments In shares arè publScly traded or thelr falr value can otherwise be measvred reliably. the
Investment Is subsequendy measured at falr value with changes In fair value reco8ni5ed In Ip£oFne and
expendlture. All other such Investments Ère subsequently measured at Cost les5 impalrment.
OthÈf financ5al instrument5, includlng deriwatives. are initialty recognlsed at falr value, unle55 payrnent lor an
asset 15 deferred beyond normal buslness terms or financed at a rate of Intérest that Is not a market rate, In
whlch case the a55et 15 me3sured at the presenl value of the future payments dlscounted at 8 market rJts of
interest for a simllar debt instrument.
Other financial Instruments are subsequently measured at falr value. wlth any change5 reco8nised In the
ststement of flnanclal actlvlties, with rhe exceptlon of hedging in5trurnÈnts in a de51Bnated hedging
relatlonshlp.
Flnanclal assets that 8rÈ measured at C05t or amortisEd w5t are reviewÉd for oblectlve evldence of
impaiment at Ihe end of each reporting date.11 there 15 objective evidence of irnpairment, an impalrment loss
is recogni58d under the aPPfOPriate heading In the stètement of financlal 3Ctlvide5 In whlch the InStlal Ealn was
recognlsed.
For all equlty Instruments regardless of slgnlft¢ance. and other financial assets that are indivldually significant,
these are è5se5sed Indlvidually for impalrrnent. Other flnancial assets are either a55e55ed indlvldually or
grovped on the basls of similar c￿dit risk ¢haracterlstlcs.
Any revEf5als of impalrment are recognised immediately. to the extent that the reversal does not result in
carrying amount of the financial asset that exceeds what the carrying amount would have been had the
irnpairment not previously been recognised.
Page 14

Bla¢k Isle Farmtts, So¢lety
Notes to the Financlal Statements- tobltlnued
for the year ended 3tst December 2024
Atcountlng poll£ies- contlnued
Intomlng resouv¢es
All incomrng resources are Included In rhe statement Df1Snanclal activiti￿ when entltlement has passed to the
charityi ￿t Is probable that the economic benefits assoclated with the transaction will flaw to the charity and
the amount can be reliabty measured. The following spe¢lli< pglicies are applied to partitular categories of
intome..
Income from donatlons or grant5 is reCOgn￿Sed when there Is evldence of Efitltlement to the gifL recelpr 15
probable and Its amount can be measured reliably.
legacy Incorne is recognlsed when receipt is probable and entitlement Is e5tabllshed.
income Irorn donatÈd goods 15 meBsureil at the laiy value of the goods unless thls Is Impra¢tical to measure
reliably, In which case the value is derived from the cost to the donor or the estimated resale value. Don3ted
facilities and services are recognised in the attounts when received If the value can be rellably measured. No
6mounts are intluded lorthe contributlon of 8eneral vtslunteers.
Income from Contracts lor the suppty ol servI￿S 15 reco8nised with thE delivery of the contractpd service.
This Is classified as unrestricted funds unless there Is a cO￿traCtUal requirement For It to be spent on a
particular purpose and returned il unspent, In which case Ir m2y be regarded as restricted.
Resources expèndÈd
Expenditure 15 recognlsed on an accruals basis a5 ) liabillty is incurred. Expenditure includes any VAT which
cannot be fully recovered, and Is classlfled under headines ol the statement of financlal actlvities to which it
relates..
expendiiure on raising funds Includes the costs of all fundraisin8 attlvitle5. events, non-charltsble tradit)8
aetivltles, and the sale tsf donated good5.
expenditure on ¢harltable actlvities includes all costs Incurred by a charlty In undertakiTh8 activlties that
further its ¢h3ritablÈ aims for the benefit of its beneficiaries, includlng those Support costs aThd costs Telating to
the governance of the charlty apportioned to charitable activltles.
other eKpenditure Include5 all expenditure that Is nelther related to ralslnB fund5 for the charity nor part of
its expenditure on chèritable activStles.
All costs are allocatetj to expendlture categorles reflecting the use of the resource. Dlrect costs
attributable to a 5in8le actlvlty are allocated dlrectly to that attivity. Shared costs are epportloned
between the att5vitle5 they contribute to on a reasonable, justifiable and consistent basis.
Tan8lblell¥ed asset5
Depreciation is provided at the lollowTnE annual rate5 In order to write off each asset over its estlmated useful
Freehold property
No depreclatlon and Stralght line over S year5
Plant and machinery
Fixtures and flttln85
5% on cost
25% on Cost
Tanglble assets are initlally recorded at cost, and subsequently stated at Cost less any accumulated
depretlatlon and Impalrment losses. Any tanglble asset5 cèrrled at revalued amounts are recorded at the fair
value at the date of ievaluatlon les5 any subsequent atcumulated depreclatlon and subsequent a£cumul8ted
Impairment Ios5e5.
Pa8e 15

Block Isle Farmèrs, Sotletv
Notes to the Flnanclal 5taternents- continued
for the year ended 31st December 2024
AcMuntlng pollcle5- contlnued
TanBible fix¢d assets
An Increase in the carryin8 amount (Trf an asset as a result of 3 revaluatlon. is recognised in other recognlsed
8alns and 1055e5. unless It reverses a charge for impalrment that ha5 preVIou5￿ been recognised as
expenditure within the statement of financial activities. A decrease In the carrying amount of an asset as
result of rEvaluatlon, Is recognised in other rewgnised Ealns and losse5, except to whlch It offsets any previov5
revèluatlon gain. in which case the loss Is showh Wlthln other reco8nls@d galns and Ios5e5 on the statement of
flnancial activities.
Stocks
Stocks are valued at the lower ol c05t and net realisable value, after makiryg due allowance for obsolete and
slow moving Items.
Taxatlon
The charity is exempt from corporation tax on its charitable activltles.
Fund ac¢ountlng
Unrestrlrted funds can be used In accordance wlth the charltable oblectlves at the distretlon of the trustees.
RÈstrScted funds can only be used for particular restrl¢ted purposes within the obleds of the charity.
RestrlctlOn5 arise when specified by the donor or when funds a￿ raised for partl¢ular restricted purp05e5.
Further explanatlon of the nature and purpose ol each fvnd is included In the note5 to the finènclal
ststements.
Hlre purchase and leasiTrg commltments
Rentals paid under opÈratlng leases are charged to the Statement of Flnancial A¢tivitiÈs on a straight line ba51S
over the perlod of the lease.
Llmlted byguarantee
Black 151e Farmers, Soclety Is a compony Ilrnited by guarantee and accordlngly does not have a share capltal.
Every mernber of the company undertakes to contrlbute such arnount as may be requlred not exceeding £1 to
the assets of the charitable company in the event of 5ts beSn8 wound up whlle he or she 15 a member. or withln
one year after he orshe ceases to be a member.
Investment
Unlisted equlty inv@slments are inltlalty recorded at cost and subsequently measured 8t fair value. If falr value
cannot be rellably measured. asset5 are measured at tost less lrnpalrment.
Listed Investment5 ère measured at faTrr value wlth changes in lalr value belng recognised In Income or
expendIt￿re.
Pa8e 16

Black151e Farme¥s' Soclety
Note5 to the f Inan¢ial StstemÈnts- contlnued
forthe year ended 315t December 2024
Donatlons 8nd1È8acle5
2024
2023
Donations
Memberships and sub5crSptlons
440
49
3.660
2,667
3,709
Investment Income
2024
2023
Invesiment Income
Deposit attount intErest
3,039
2,531
2,577
1,368
5,570
3,945
Incornè Irorn charltable actlvStles
2024
2023
Aclivitv
General
General
Gener81
General
General
General
General
General
General
General
General
General
PIouBhin8 match
Sponsorship
r sales
Barbecue
Grant5
Catalogues
Prèsidents dinner
Show admission tharges
Show entry fees
Trade stands
Trophy dlnner
Other income
10,476
za,544
58,273
1,447
9,000
8,178
1.649
183.223
32.Z16
186.444
2.769
18,877
7.687
23,620
22.546
2,670
15,911
8,950
455
174,943
23,408
166,149
3,048
738
536,096
450,125
Grants recÉived, included In the above, are as follows..
2024
2023
Grants
9,IXIO
15,911
Page 17

81ack tsle Farmers, 5o¢lety
Notes to the Flnanclal StatÈh)ents- conilnued
for the year ended 31$t D¢¢omber 2024
Ralslng funds
Ralsln8 donarfon$ le8acies
2024
202Y
Support Costs
1,934
Other trdding atlivities
2024
2023
Bad debts
189
Ag8re8ate amounts
189
1,934
Chariiable actlvftles costs
support
C05ts15ee
note 71
Direct
Costs
Totals
General
532.097
15.622
547.719
Support costs
Governance
costs
Finance
fots15
General
1351
13.271
15,622
Net Incomellexpendlturel
Net Incomellexpenditurel is stated afterthar8inBlluedillngl.'
2024
2023
Audltin8 ol accounts
Depreclabon- owned assets
Hlre of plant and machinery
7.500
66,270
12,976
59,684
11,976
The ac¢ountan¢y costs for the year ended 31st December 2024 was £5,77112023- E5.8911.
The independent examlnerfeÈ for the year ended 31st December 2024 was Nll12023- £2,100).
Page 18

Blacl 151e Farmers, Soclety
Notes to the Flnanclal Statements. ¢ontlnued
foi the year endpd 315t December 2024
rru5tees' iemuneratlon and beneflts
There were no trustees, remuneration or other benefits for the yeèr ended 31st December 2024 oor for the
year ended 31st December 2023.
Trustees. exptnses
There were no trustees, expenses paSd for the year ended 31st December 2024 nor for the year ended
31st December 2023.
Statlc05t$
The average head count of employees durln8 the yearwas 112023.. 11.
No employee recelved ernployee benellts ol more than £60,000 durln8 the year12023.. NIII.
ii,
Comparatlves for the statement o*finan¢ial actlvlt1è5
Unrestrl¢ted
fund
RestTirtÈd
fund
Totsl
funds
In¢ome and endowmentslrom
Donations and legacies
3,709
3.709
Charltable activitles
General
450,125
450,125
Investment Income
Other income
3,945
39.951
3,945
39.951
Total
497,730
497,730
Empendltsre on
Ralsin8 funds
1.934
1,934
tharltable activltlts
General
483,388
8,497
491.885
Total
485,322
493,819
Net8alns on investments
6,569
6,569
NET INCOMEIIEXPENDITUREI
18,977
18.4971
10,480
Reton¢illatlon of funds
Totsl funds brought forward
637,548
90,IS4
727,702
Total funds corried forward
656,525
81,657
T38,182
Page 19

Black Isle Farmers, Society
Notes to the FSnancial 5tstement5- conffnued
for the year ended 31st De£ernber 2024
12.
ranglble ftrxed a55et5
Flxtures
and
Itttings
Freehold
propertv
Plant and
machlnery
Totals
Cost
Al 1st january 2024
Additions
1.111,322
291,234
46.661
1,058
1.403,614
46.661
At 3tst December 2024
1.111.322
337,895
1,058
1.450,275
Depreclatlo
At 1st January 2024
Charge foryear
782,024
50.310
177,628
15,865
677
95
960,329
66,270
At 31st December 2024
832.334
193,493
772
I.QZ6,599
Net book value
At 31st Decefflber 2024
278.988
144,402
286
423,676
At 31st D￿ernber 2023
329.298
113,606
381
443.285
ij.
Flxd asset investments
Unlisted
investments
Market vafue
At 1st January 2024
FaSrvalve movements
127,610
7,599
At 315t DÈcember 2024
135.Z09
Net book value
At 31st December 2024
135209
At 31st December 2023
127,610
There were no investment asset5 Outslde the UK.
Page 20

Black Isle Farmeis, 5o¢lety
Notes to the Flnanclal Statements. ¢ontlnued
for the year ended 31st December 2024
ij.
Flxed a55et Investments- contlnued
Cost or valuation at 31st December 2024 Is represented by..
Unllsted
Investmenis
Valuatlon in 2018
Valuatlon in 2019
Valuation in 2020
Valuation in 2021
Valuatlon in 2022
Valuation sn 2023
Valuation sn 2024
108,381
13A95
111881
10,931
112.7171
8,708
7,599
135,209
All tnvestrnents shown above are held at valuatloh.
14.
Stocks
2024
2023
Stocks
2,476
4,022
15.
D8btors: amounts falllng due wlthln otse year
2024
2023
Trade debtors
Otherdebtors
Prepayment5 and accrued Income
2,097
35.*109
225
1,090
36,172
3,187
Page 21

Black Isle Farmers, Socletv
Notes to the Flnan¢i?I Statements- contlnued
for the year ended 31st December 2024
16.
Credltors: amounts falllngdue wlthln one year
ZOZ4
2023
Other creditors
A¢cruals and deferred income
48,667
22,31Y)
48,667
46.811
17.
Movement In funds
Nei
movement
In funds
Al
3V12124
At 111124
Unrestrl¢¢ed funds
General fund
656,525
57.638
714.163
Rèstrl¢ted lunds
Restricted fund
81.657
18A971
73.160
TOTAL FUNDS
738,182
49.141
787323
Nei movement In funds, Included In the above are as follows..
Incvmlng
resource5
Resources
expended
Galns and
losses
Movemént
funds
Unrestrlcted funds
General fund
592,008
1539,4111
5,041
57.638
Restricted funds
Restrltted fund
18,4971
I$A971
TOTALFUNDS
592.OOB
547,9081
5,041
49,141
Page 22

Black Isle Farh￿r5, Societv
Nots5 to the Flnanclal 5tatements- ctsntlnued
forthe year ended 31st De¢ernbor 2024
17.
Movement In funds. conllnued
Comparatlves for movemènt In funds
Net
movement
In funds
At
31112n3
At 111123
Uniestrlrted fund5
General fund
637.548
18,977
656,525
Restiltted funds
Restricted fund
9D,154
18,4971
81,657
TOTAL FUNOS
727,702
10,480
738.182
Comparatlve net movement In funds, included in the above are ès follows..
Incomlng
re50ur¢es
Resources
expended
Gains and
losses
Movement
In fvnds
Unrestricted lunds
General fund
497.730
1485,3221
6,569
18.977
Restrlrted tunds
Restritted fund
18,4971
18A971
TOTAL FUNDS
497 730
1493,8191
6,569
10,480
A eurrent year 12 month5 and prior year 12 month5 comblned positlon is a5 follo￿..
Net
movèment
in fund$
At
31112124
At 111123
Unrestrlcted funds
General fund
637.$48
76,615
714.163
RestrittÈd funds
Restricted lund
90.154
116.9941
73,160
TOTAL FUNDS
727.702
59,621
787,323
Pa8e 23

Black Isle Farmèrs, Society
Notes to the Flnanclal Statements- continued
for ihe Year ended 31st De£ember 2024
17.
Mtsvemenl In funds. contlnued
A current year 12 months and pricr year 12 month5 cornblned net movement Sn funds, Included in the above
are as follows..
lrtcomlng
resource5
Re50urce$
expended
Galns and
losses
MDvement
In funds
Unre5trlrtéd funds
General fund
L089,738
11,024,733)
11,610
76.615
Restricted funds
Restrlcted fund
116,9941
116.9941
TOTAL FUND5
1,089.738
11.041,7271
11.610
59,621
i¥.
Related p4rty distlosure5
The followln8 buslnesses connected to Trustees and general committee members have provided setvlces to
the Soclety on an arm5 length basks durlng the year ended 31 December 2024.
A Grant- F1rm of A Grant- Haula8e servlces £3,540.
The followin8 businesses connected to members of the general committee have prO￿ded services to the
5oclety on an arm5 len8th basss durln8 the year ended 31 gecember2024.
D Gardner- Highland Technical- IT, CCTV & audio servlces £26,851.
l Fra5er- FrasEr Contrattlng- ElectTlcal services £21,408.
A M8rtln- WW Martln & Son- Fleld refital far car parkin8 £8.401.
J Munro- Fram2 Kennedy Ltd-Accountancy. tax and audSt services £7,887.
Thwe were no balances out5tandln8 wlth any of the partles above at 31 December 2024.
19.
FRC ethlcal standard- provlslons av¥llable lor small entltle5
In common with many other buslnesses of our slze and nature we use our auditors to prepare and submit
Tetsjrns to the tax authorlties and assist wlth the preparation of the flnancS8l staternent5.
Page 24

Blpcklsle Farnieis, Soclety
Detsiièd Statement of Flnan¢lHI Attivltles
tor the year ended 31st Decèmbei 2024
2024
2021
Income and endowments
Oonatlon5 and leBa¢l
Donatlons
Memberships and substrlptlons
440
Z,Z27
49
3,660
2,667
3,709
Investmènt income
Investment income
Deposit account Interest
3.039
2.531
2,577
1,368
5,570
3,945
Charltsblè actlvWes
Ploughing mat£h
Sponsorshlp
Bar sales
Barbɢue
Grant5
Catalogues
Presldents, dirTrner
Show admlsslon char8es
Show entry fees
Trade stands
Trophy dinner
Other Income
10,476
23,544
58,273
1,447
9.000
8,178
1.649
183,223
32,216
186A44
2.769
18A77
7,687
23.620
22,546
2,670
15,911
8,950
455
174.943
23.408
166,149
3,048
738
536.096
450,12S
Other Income
Rental and hire
47.675
39,951
Total Intomlnm iesource$
59UIO8
497.730
ExpÈndtture
other tradln8 aLllvltle$
Bad debts
189
Charitable a¢tlvitles
Labour costs
Hire of plant and mathlnery
Carrie£S lorward
32,835
11.976
45,811
27,018
11,976
38.994
Thls P88e does not form part of the statutory financial staternents
Page 25

Black l$le FaYMers' Society
Detalled Statement ol Finartclal Attivltles
for the year ended 31st December 2024
2024
2023
Charltable actI￿lIeS
Brought forward
Rent & rates
Insu￿nCe
Ught and heat
Telephone
Postage and stationery
AévertislnE
Sundries
Plough match
Poli¢in8 and other services
General show expenses
ministratlon
Bursary
Servlce char8es
ProfessSonal fees
Bar costs
Barliecue expenses
Catalogue expense
Consultancy fees- L Mltchell
L)ojo charÈes
Donations 8nd sub5
Judge expenses
Meals and entertalrnment
Presldents, dlnner
Prite money
Repairs
Trophies. rosettes & engrawn
Trophie5 dinners
DeprecSation of tangible fixed assets
45,811
31,956
8,962
2.255
756
7.112
6,131
7,211
5,736
44,097
142,577
1,136
800
38,994
17,705
8,684
4.046
842
6.843
10,456
2.314
5,392
43,809
126.494
4,849
4.238
438
135
3.266
1,571
4,360
8,804
1.818
11.147
8,102
13,858
140
30,384
780
4,800
2,662
2,247
11.258
7,367
6.190
3,107
29,072
51,Q69
9,068
2,662
66,270
24,077
59,919
8,646
3,403
59,684
532,097
4B3.894
Support costs
Flfiance
Bank char8es
2J51
1,934
Governan¢e tosts
Audltors, remuneratlon for non audlt work
Accountartcy and legal fee5
7.500
5.771
7,991
13.271
7,991
Total resources expended
547.9)8
493.819
Net income before gaiTrs and losses
44.￿0
3,911
Thls page does not form part of the statutory financial statements
Page 26

Black151e Farmers, Soclety
Detailed Statemeni of Flnantlal A(tlvltle$
for th# year ended 31st Deternber 2024
2024
2023
Reallsed recognlsed galns and losses
Realised galnslllossesl on Investment
5.041
6.569
Net Income
49,141
10,480
This page doe5 not form part of the statutory financlal statements
Page 2Y