REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
BRITISH ROUGE DE L'OUEST SHEEP SOCIETY |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
BRITISH ROUGE DE L'OUEST SHEEP SOCIETY |
BRITISH ROUGE DE L'OUEST SHEEP SOCIETY |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Statement of Financial Activities | 3 |
Balance Sheet | 4 | to | 5 |
Notes to the Financial Statements | 6 | to | 10 |
BRITISH ROUGE DE L'OUEST SHEEP SOCIETY (REGISTERED NUMBER: 02175561) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
The Company's objectives and principal activities are, to benefit the public by promoting the breeding of British Rouge sheep and-to maintain the purity of the breed and develop it. |
The main area of charitable activity are the maintenance of a flock book of recognised pure-bred sire and the annual registration of the pedigrees of the sheep and to promote the breed with a view to encouraging involvement from members of the farming community and public alike. To encourage young people to continue to ensure the future of the breed and the environment in which it thrives. |
The principal funding sources for the charity are members' subscriptions, ewe and ram registration fees, transfer fees and sale commission. |
As trustees of the charity, we have complied with the duty in Section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission. |
The charity helps and encourages farmers to keep British Rouge sheep by assisting with information, maintaining a flock book, providing marketing support such as demonstrations, Open days, leaflets, website and social media. The charity meets its charitable objectives via its annual shows and sales. The committee is keen to involve young people in the breed. |
ACHIEVEMENT AND PERFORMANCE |
The Society membership currently stands at around 82 members, who are currently paying full subscription and registering sheep. The numbers have increased over the past few years, along with an increase in Birth Notifications and Registrations. |
The committee maintains vigilance of the showing of sheep and the presentation of the breed for both breed type and any activities, which are, consider detrimental to the breed, members or the society. Anyone found to be acting in any way contrary to the benefit of the members and or the breed will be dealt with by the society committee. In the first instance this will be in an advisory way or through our Newsletter. Any member continuing to use unacceptable practises or behaviour will be deal with by the committee in an appropriate way and as they see fit. |
The website is kept up to date and members received information via the website, Facebook, newsletters, email and direct mailing throughout in the year keeping them well informed of what is happening. |
FINANCIAL REVIEW |
The Trustees policy is to review the reserve levels of the charity on an annual basis. This review will encompass the nature of the income and expenditure streams, the need to match income with commitments and the nature of the Charity's reserves. The trustees also take into consideration future plans of the Charity, the uncertainty over some elements of future income streams and other key risk factors identified during the risk review process. |
The past year has seen a deficit of income over expenditure of £1,535 (2022: surplus of £675). Any surplus funds are carried forward to be available for the future benefit of the breed. |
BRITISH ROUGE DE L'OUEST SHEEP SOCIETY (REGISTERED NUMBER: 02175561) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
STATEMENT OF TRUSTEES RESPONSIBILITIES |
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial 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, of the charity for that period. In preparing those |
Financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Approved by order of the board of trustees on |
BRITISH ROUGE DE L'OUEST SHEEP SOCIETY |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds | 4 |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 41,286 |
BRITISH ROUGE DE L'OUEST SHEEP SOCIETY (REGISTERED NUMBER: 02175561) |
BALANCE SHEET |
31 DECEMBER 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
CURRENT ASSETS |
Debtors | 10 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 41,286 |
TOTAL FUNDS | 41,286 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
BRITISH ROUGE DE L'OUEST SHEEP SOCIETY (REGISTERED NUMBER: 02175561) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
BRITISH ROUGE DE L'OUEST SHEEP SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
BRITISH ROUGE DE L'OUEST SHEEP SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | OTHER TRADING ACTIVITIES |
31.12.23 | 31.12.22 |
£ | £ |
Subscriptions & Registrations |
Show & sale receipts |
Commissions & society levy | 511 | 860 |
Member Meetings & Dinner | 257 | 329 |
3. | INVESTMENT INCOME |
31.12.23 | 31.12.22 |
£ | £ |
Deposit account interest |
4. | RAISING FUNDS |
Raising donations and legacies |
31.12.23 | 31.12.22 |
£ | £ |
Shows and promotions |
Meeting & dinner expenses |
Support costs |
12,941 | 11,858 |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Trustees are eligible to reclaim reasonable expenses, including travel and subsistence, secretarial and office costs. |
BRITISH ROUGE DE L'OUEST SHEEP SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.12.23 | 31.12.22 |
Administration |
8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 41,286 |
9. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
BRITISH ROUGE DE L'OUEST SHEEP SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
VAT |
Prepayments |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
VAT | - | 288 |
Accrued expenses |
12. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 41,286 | (1,535 | ) | 39,751 |
TOTAL FUNDS | (1,535 | ) | 39,751 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 11,406 | (12,941 | ) | (1,535 | ) |
TOTAL FUNDS | ( |
) | (1,535 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 40,611 | 675 | 41,286 |
TOTAL FUNDS | 40,611 | 675 | 41,286 |
BRITISH ROUGE DE L'OUEST SHEEP SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
12. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 12,533 | (11,858 | ) | 675 |
TOTAL FUNDS | 12,533 | (11,858 | ) | 675 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 40,611 | (860 | ) | 39,751 |
TOTAL FUNDS | 40,611 | (860 | ) | 39,751 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 23,939 | (24,799 | ) | (860 | ) |
TOTAL FUNDS | 23,939 | (24,799 | ) | (860 | ) |
13. | RELATED PARTY DISCLOSURES |