CHARITY REGISTRATION NUMBER: SC050710
British Society of Animal Science SCIO
Unaudited Financial Statements
30 November 2024
18 North Street, Glenrothes, Fife KY7 5NA 01592 610388 8 Mitchell Street, Leven, Fife KY8 4HJ 01333 425250 www.patersonboyd.com
PATERSON BOYD & CO CHARTERED CERTIFIED ACCOUNTANTS
British Society of Animal Science SCIO
Trustees' Annual Report
Year ended 30 November 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 8 |
| Statement of financial activities | 9 |
| Statement of financial position | 10 |
| Notes to the financial statements | 11 |
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British Society of Animal Science SCIO
Trustees' Annual Report
Year ended 30 November 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 30 November 2024.
Reference and administrative details
Registered charity name British Society of Animal Science SCIO Charity registration number SC050710 Principal office 18 North Street Glenrothes Fife KY7 5NA The trustees President Past President Snr Vice President Jnr Vice President (Appointed 9 April 2024) (Appointed 9 April 2024) Chief Executive Honorary Treasurer Bank Royal Bank of Scotland 36 St Andrew Square Edinburgh EH2 2YB Independent examiner Paterson Boyd 18 North Street Glenrothes Fife KY7 5NA
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British Society of Animal Science SCIO
Trustees' Annual Report (continued)
Year ended 30 November 2024
Structure, governance and management
British Society of Animal Science SCIO was registered as an incorporated charity from 1 June 2021.
Constitution and objects
The Society has a Memorandum and Articles of Association formally set out and available for consultation via the members area of the website.
Organisation
The board of trustees of the Society is an elected body, with new members being elected at each Annual General Meeting to serve for four years. Candidates for President, Senior Vice-President, VicePresident and Honorary Treasurer are proposed by trustees for election at the Annual General Meeting. Members of the board holding office during the year ended 30 November 2024 are as stated on page 1.
The CEO of the Society is chosen by the Trustees following an open recruitment process and ratified by the members at the AGM.
The Trustees meet at least every three months in virtual meetings and, post-pandemic, at least once a year in person, in order to discuss strategic and operational matters relating to the Society.
A number of Committees carry out work in furtherance of the charity's objectives, and report directly to the Board of Trustees. These key committees are led by a Trustee. The Finance, Governance and Income Generation Committee is responsible for oversight of all governance and financial planning and activities.
Newly appointed Trustees are provided with a copy of the governing document, a copy of the financial statements, recent minutes of meetings and handbooks of governance and codes of practice. In addition, a verbal briefing is given by the President and the Honorary Treasurer. They are also provided with the following documents issued by OSCR: Guidance and Good Practice for Charity Trustees; Who's in Charge: Control and Independence in Scottish Charities; and also with additional independent information on Trustee boards. On an ongoing basis, confirmation is obtained that Trustees understand their responsibilities through discussion in person at Trustee meetings and by conference calls.
Key Management Personnel
The Trustees and the Chief Executive are deemed to be the charity's key management personnel. The Trustees are not remunerated for their services.
Risk Management
The board of Trustees has assessed the major risks to which the Society is exposed, in particular those related to the operations and finances of the Society and are satisfied that systems are in place to mitigate our exposure to the major risks.
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British Society of Animal Science SCIO
Trustees' Annual Report (continued)
Year ended 30 November 2024
Objectives and activities
The British Society of Animal Science SCIO was formally constituted as a Scottish Charitable Incorporated Organisation on 1 June 2021 in order to:
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Provide opportunities for those interested in and concerned with the science relating to animals and its application to meet and exchange information, ideas and experiences.
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Encourage the investigation of problems and matters pertaining to the science related to animals and its application.
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Collect and publish information about the science relating to animals and its application; to print and publish any periodicals, books and leaflets which the Society may think desirable.
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Stimulate the incorporation into practice of advances resulting from research, experimental work and practical experience.
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Co-operate with any other organisation in furthering any of the objects of the Society.
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Do all such things as may be incidental or conductive to the attainment of the above objects or any of them.
Achievements and performance
Activities carried out in the year included:
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Successful annual meeting BSAS 2024 delivered as an in-person event.
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Successful Dairy Nutrition Conference delivered as an in-person event.
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Publication of animal family of journals in partnership with INRAE and EAAP - animal has an Impact Factor of 4 (2020 - 3.240), ranking 4/80 in the Agriculture, Dairy & Animal Science category (previously 9/63) and 08/167 in the Veterinary Science Category (previously 15/146).
-
Grew and developed BSAS communications content and reach.
The society journal animal has shown improvement in this year with number of submitted papers increasing to above forecast, which resulted in a larger than expected contribution to Society finances. There are however some additional expenses associated with increased submissions.
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British Society of Animal Science SCIO
Trustees' Annual Report (continued)
Year ended 30 November 2024
Financial review
The surplus was due to an excellent conference result and additional income from publications. Expenditures met the budget.
Reserves Policy
Unrestricted funds represent the general funds that the charity is free to use in accordance with the Society's charitable objectives. It is the policy of the charity to maintain unrestricted funds at a level that equates to a minimum of approximately one year's unrestricted income. This provides sufficient funds to cover management and administration costs and to respond to any emergencies that may arise from time to time. Unrestricted funds were maintained at or above this level throughout the year.
At the year end the Society had unrestricted reserves of £580,658 (2023: £475,266).
The charity confirms that, in their opinion, the assets of the Society are available and adequate to fulfil its obligations.
Investment Policy
In accordance with the constitution of the charity, the Trustees have the power to invest in shares, bonds and other investments as they see fit. This has been a better year for investments with our investment portfolio increasing in value from £387,052 to £460,551.
The treasurer and chief executive met with the BSAS investment managers, Brooks Macdonald twice in the year. It was agreed by trustees not to move investment management at this stage but to continue to maintain a constant review of performance.
Plans for future periods
In the coming years, the Society will:
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Focus on income and impact related activities to enhance the resilience of the society in the longer term.
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Continue to tightly manager expenditure.
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Continue its structure, governance procedures and constitution, particularly in relation to financial procedures.
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Reduce reliance on subcontracted services.
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Continue to consult with stakeholders and members to promote an animal science agenda to a wide audience.
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Organise or assist with the organisation of animal science conferences in the UK and overseas.
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Support the management of the Animal Consortium (part ownership).
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Deliver activities specifically aimed at supporting the development of early career scientists.
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Focus membership retention and increasing membership numbers.
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Develop new activities to meet the needs and aspirations of current and future members.
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British Society of Animal Science SCIO
Trustees' Annual Report (continued)
Year ended 30 November 2024
Trustees' responsibilities statement
The Trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustees Investments (Scotland) Act 2005, the Charity Accounts (Scotland) Regulations 2006, and the terms of the charity's constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' annual report was approved on 28 February 2025 and signed on behalf of the board of trustees by:
BSAS President
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British Society of Animal Science SCIO
Independent Examiner's Report to the Trustees of British Society of Animal Science SCIO (continued)
Year ended 30 November 2024
I report to the trustees on my examination of the financial statements of British Society of Animal Science SCIO ('the charity') for the year ended 30 November 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (the ‘2005 Act’) and the Charities Accounts (Scotland) Regulations 2006 (as amended). You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination.
I report in respect of my examination of the charity's financial statements as carried out under section 44(1)(c) of the 2005 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended).
Independent examiner's statement
Since the charity has prepared its accounts on an accruals basis your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I can confirm that I am qualified to undertake the examination because I am a registered member of ICAS which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention giving me cause to believe that in any material respect:
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accounting records were not kept as required by section 44(1)(a) of the 2005 Act and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006 (as amended); or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of Regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Date: 28 February 2025
Independent Examiner
Paterson Boyd & Co 18 North Street Glenrothes Fife KY7 5NA
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British Society of Animal Science SCIO
Statement of Financial Activities
Year ended 30 November 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 43,881 | 43,881 | 35,076 |
| Charitable activities | 5 | 168,159 | 168,159 | 368,029 |
| Investment income | 6 | 7,670 | 7,670 | 7,214 |
| Total income | 219,710 | 219,710 | 410,319 | |
| = | = | = | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 7 | 2,584 | 2,584 | 2,300 |
| Expenditure on charitable activities | 8,9 | 181,060 | 181,060 | 450,392 |
| Total expenditure | 183,644 | 183,644 | 452,692 | |
| = | = | = | ||
| Gain/(loss) on Activities | 36,066 | 36,066 | (42,373) | |
| Net gains on investments | 11 | 69,326 | 69,326 | 14,178 |
| Net income/(expenditure) and net movement in funds | 105,392 | 105,392 | (28,195) | |
| = | = | = | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 475,266 | 475,266 | 503,461 | |
| Total funds carried forward | 580,658 | 580,658 | 475,266 | |
| = | = | = |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 11 to 20 form part of these financial statements.
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British Society of Animal Science SCIO
Statement of Financial Position
30 November 2024
| Note Fixed assets Investments 16 Current assets Debtors 17 Cash at bank and in hand Creditors: amounts falling due within one year 18 Net current assets Total assets less current liabilities Net assets Funds of the charity Unrestricted funds Total charity funds 21 |
2024 £ 460,551 37,278 123,523 160,801 40,694 120,107 580,658 580,658 = 580,658 580,658 = |
2023 £ 387,053 71,620 58,923 |
|---|---|---|
| 130,543 42,330 |
||
| 88,213 | ||
| 475,266 | ||
| 475,266 = 475,266 |
||
| 475,266 = |
These financial statements were approved by the board of trustees and authorised for issue on 28 February 2025, and are signed on behalf of the board by:
Honorary Treasurer
The notes on pages 11 to 20 form part of these financial statements.
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British Society of Animal Science SCIO
Notes to the Financial Statements
Year ended 30 November 2024
1. General information
The charity is a public benefit entity and a registered charity in Scotland and is unincorporated. The address of the principal office is 18 North Street, Glenrothes, Fife, KY7 5NA.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities and Trustee Investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended).
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis of accounting with the exception of investments which are carried at market value. The financial statements are prepared in sterling, which is the functional currency of the entity.
Value added tax
The charity is VAT registered and a partial exemption scheme is in operation. Irrecoverable VAT is charged to resources expended in the period the expense was incurred.
Going concern
The financial statements have been prepared on a going concern basis. The Council members and Trustees have assessed the charity's ability to continue as a going concern and have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing these financial statements.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
(a) No cash flow statement has been presented for the charity.
(b) Disclosures in respect of financial instruments have not been presented.
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British Society of Animal Science SCIO
Notes to the Financial Statements (continued)
Year ended 30 November 2024
3. Accounting policies (continued)
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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Interest receivable is included upon notification of the interest paid or payable by the bank.
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Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
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British Society of Animal Science SCIO
Notes to the Financial Statements (continued)
Year ended 30 November 2024
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 33% straight line
Investments
Investments are included in the financial statements at market value. Realised and unrealised gains or losses are reflected within the Statement of Financial Activities when they arise. Investments are valued at middle market prices. Unrealised gains and losses are calculated as the difference between the opening market value on the first day of the financial year and the closing market value at the year end. Gains and losses are allocated to the appropriate fund (restricted or unrestricted)based on what fund holds the investment.
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British Society of Animal Science SCIO
Notes to the Financial Statements (continued)
Year ended 30 November 2024
3. Accounting policies (continued)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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British Society of Animal Science SCIO
Notes to the Financial Statements (continued)
Year ended 30 November 2024
3. Accounting policies (continued)
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Grants awarded
All grants awarded during the year were awarded to individuals rather than institutions and are accounted for on the accruals basis.
4. Donations and legacies
| Donations and legacies | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 7,650 | 7,650 | 454 | 454 |
| Subscriptions | 36,231 | 36,231 | 34,332 | 34,332 |
| Miscellaneous Income | – | – | 290 | 290 |
| 43,881 | 43,881 | 35,076 | 35,076 | |
| = | = | = | = |
5. Charitable activities
| Charitable activities | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Income from publications | 58,200 | 58,200 | 45,248 | 45,248 |
| Income from conferences | 109,959 | 109,959 | 322,781 | 322,781 |
| 168,159 | 168,159 | 368,029 | 368,029 | |
| = | = | = | = |
6. Investment income
| Unrestricted Total Funds £ Income from other investments 186 Bank interest receivable 913 Dividends receivable 6,571 7,670 = |
Funds Unrestricted Total 2024 Funds £ £ 186 238 913 195 6,571 6,781 7,670 = 7,214 = |
Funds 2023 £ 238 195 6,781 7,214 = |
|---|---|---|
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British Society of Animal Science SCIO
Notes to the Financial Statements (continued)
Year ended 30 November 2024
7. Costs of raising donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Raising funds | 2,584 | 2,584 | 2,300 | 2,300 |
| = | = | = | = | |
| Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Charitable activities | 26,261 | 26,261 | 303,067 | 303,067 |
| Support costs | 154,799 | 154,799 | 147,325 | 147,325 |
| 181,060 | 181,060 | 450,392 | 450,392 | |
| = | = | = | = | |
| Expenditure on charitable activities by activity type | ||||
| Activities | ||||
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Charitable activities | 26,261 | 145,596 | 171,857 | 435,590 |
| Governance costs | – | 9,203 | 9,203 | 14,802 |
| 26,261 | 154,799 | 181,060 | 450,392 | |
| = | = | = | = | |
| Analysis of support costs | ||||
| Analysis of | ||||
| support costs | Total 2024 | Total 2023 | ||
| £ | £ | £ | ||
| Staff costs | 69,656 | 69,656 | 60,668 | |
| Communications and IT | 7,434 | 7,434 | 4,557 | |
| General office | 7,845 | 7,845 | 7,814 | |
| Finance costs | 539 | 539 | (55) | |
| Governance costs | 9,203 | 9,203 | 14,802 | |
| Professional fees | 18,008 | 18,008 | 21,390 | |
| Other costs | 15,294 | 15,294 | 17,060 | |
| PR and Press | 26,820 | 26,820 | 21,089 | |
| 154,799 | 154,799 | 147,325 | ||
| = | = | = |
8. Expenditure on charitable activities by fund type
9. Expenditure on charitable activities by activity type
10. Analysis of support costs
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British Society of Animal Science SCIO
Notes to the Financial Statements (continued)
Year ended 30 November 2024
11. Net gains on investments
| 11. | Net gains on investments | |||
|---|---|---|---|---|
| Unrestricted | Total FundsUnrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Gains/(losses) on other investment | ||||
| assets 69,326 |
69,326 | 14,178 | 14,178 | |
| = | = | = | = | |
| 12. | Net income/(expenditure) | |||
| Net income/(expenditure) is stated after charging/(crediting): | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Foreign exchange differences | 2,253 | 3,815 | ||
| = | = | |||
| 13. | Independent examination fees | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 1,785 | 2,100 | ||
| Other assurance services | 7,418 | 12,702 | ||
| 9,203 | 14,802 | |||
| = | = | |||
| 14. | Staff costs | |||
| The total staff costs and employee benefits for the reporting period are analysed as | follows: | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Wages and salaries | 65,179 | 56,493 | ||
| Employer contributions to pension plans | 4,477 | 4,175 | ||
| 69,656 | 60,668 | |||
| = | = |
The average head count of employees during the year was 1 (2023: 1).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
Key Management Personnel
The key management personnel of the charity comprises of the Trustees and the Chief Executive. The total employee benefits of the key management personnel of the charity during the year were £63,746 (2023: £60,668).
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British Society of Animal Science SCIO
Notes to the Financial Statements (continued)
Year ended 30 November 2024
15. Trustee remuneration and expenses
Trustees were reimbursed travel and subsistence expenses totalling £522 (2023: £nil).
The Chief Executive was reimbursed travel and subsistence expenses totalling £1,094 (2023: £302).
16. Investments
| Cash or cash equivalents Other investments £ £ Cost or valuation At 1 Dec 2023 6,632 380,421 Additions – 38,350 Disposals – (36,943) Fair value movements – 69,325 Other movements 2,766 – At 30 Nov 2024 9,398 451,153 = = Impairment At 1 Dec 2023 and 30 Nov 2024 – = Carrying amount At 30 Nov 2024 9,398 451,153 = = At 30 Nov 2023 6,632 380,421 = = All investments shown above are held at valuation. Debtors 2024 £ Trade debtors 14,700 Prepayments and accrued income 22,578 Other debtors – 37,278 = |
Total £ 387,053 38,350 (36,943) 69,325 2,766 460,551 = – = 460,551 = 387,053 = 2023 £ 50,542 18,653 2,425 71,620 = |
|---|---|
17. Debtors
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British Society of Animal Science SCIO
Notes to the Financial Statements (continued)
Year ended 30 November 2024
18. Creditors: amounts falling due within one year
| Trade creditors Amounts owed to group undertakings Accruals and deferred income Social security and other taxes Other creditors 19. Deferred income At 1 December 2023 Amount released to income Amount deferred in year At 30 November 2024 |
2024 £ 3,857 138 30,998 5,328 373 40,694 = 2024 £ 20,250 (20,250) 20,250 20,250 = |
2023 £ 6,978 – 35,352 – – 42,330 = 2023 £ 50,249 (50,249) 20,250 20,250 = |
|---|---|---|
Deferred income represent income relating to events taking place after the year end.
20. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,477 (2023: £4,175).
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British Society of Animal Science SCIO
Notes to the Financial Statements (continued)
Year ended 30 November 2024
21. Analysis of charitable funds
Unrestricted funds
| At 1 Dec 2023 £ General funds 475,266 Genetics funds – 475,266 = At 1 Dec 2022 £ General funds 465,488 Genetics funds 4,500 469,988 = |
Income Expenditure Transfers Gains and losses At 30 Nov 202 4 £ £ £ £ £ 219,710 (183,644) – 69,326 580,658 – – – – – 219,710 (183,644) – 69,326 580,658 = = = = = At Gains and 30 Nov 202 Income Expenditure Transfers losses 3 £ £ £ £ £ 410,319 (452,692) 37,973 14,178 475,266 – – (4,500) – – 410,319 (452,692) 33,473 14,178 475,266 = = = = = |
Income Expenditure Transfers Gains and losses At 30 Nov 202 4 £ £ £ £ £ 219,710 (183,644) – 69,326 580,658 – – – – – 219,710 (183,644) – 69,326 580,658 = = = = = At Gains and 30 Nov 202 Income Expenditure Transfers losses 3 £ £ £ £ £ 410,319 (452,692) 37,973 14,178 475,266 – – (4,500) – – 410,319 (452,692) 33,473 14,178 475,266 = = = = = |
|---|---|---|
| 475,266 = |
22. Analysis of net assets between funds
| Analysis of net assets between funds | ||
|---|---|---|
| Unrestricted | Total Funds | |
| Funds | 2024 | |
| £ | £ | |
| Investments | 460,551 | 460,551 |
| Current assets | 160,801 | 160,801 |
| Creditors less than 1 year | (40,694) | (40,694) |
| Net assets | 580,658 | 580,658 |
| = | = | |
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Investments | 387,053 | 387,053 |
| Current assets | 130,543 | 130,543 |
| Creditors less than 1 year | (42,330) | (42,330) |
| Net assets | 475,266 | 475,266 |
| = | = |
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