IRIS Accounts Production v24.3.2.46 Other Company accounts True false Pounds 1.10.23 30.9.24 30.9.24 FY C Richardson G E Connor J L Emberton Mrs S Harries Mrs B Gould Mrs P A Black Mrs L Thompson R C King Ms L Adams P J G Gorringe L H Trumper G A Wood Mrs M J Harper R Renwick T Green M Kehoe FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false true 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh014660402023-09-30014660402024-09-30014660402023-10-012024-09-30014660402022-09-30014660402022-10-012023-09-30014660402023-09-3001466040ns0:CharitableCompanyLimitedByGuarantee2023-10-012024-09-3001466040ns15:PoundSterling2023-10-012024-09-3001466040ns0:Trustee22023-10-012024-09-3001466040ns0:Trustee32023-10-012024-09-3001466040ns0:Trustee12023-10-012024-09-3001466040ns0:Trustee42023-10-012024-09-3001466040ns0:Trustee52023-10-012024-09-3001466040ns0:Trustee62023-10-012024-09-3001466040ns0:Trustee72023-10-012024-09-3001466040ns0:Trustee82023-10-012024-09-3001466040ns0:Trustee92023-10-012024-09-3001466040ns0:Trustee102023-10-012024-09-3001466040ns0:Trustee112023-10-012024-09-3001466040ns0:Trustee122023-10-012024-09-3001466040ns0:Trustee132023-10-012024-09-3001466040ns0:Trustee142023-10-012024-09-3001466040ns0:Trustee152023-10-012024-09-3001466040ns0:Trustee162023-10-012024-09-3001466040ns11:FRS1022023-10-012024-09-3001466040ns11:IndependentExaminationCharity2023-10-012024-09-3001466040ns11:SmallCompaniesRegimeForAccounts2023-10-012024-09-3001466040ns11:FullAccounts2023-10-012024-09-3001466040ns11:CharitiesSORP2023-10-012024-09-3001466040ns16:EnglandWales2023-10-012024-09-3001466040ns11:RegisteredOffice2023-10-012024-09-3001466040ns11:CompanySecretary12023-10-012024-09-3001466040ns0:TotalUnrestrictedFunds2023-10-012024-09-3001466040ns0:TotalRestrictedIncomeFunds2023-10-012024-09-3001466040ns0:Activity92023-10-012024-09-3001466040ns0:TotalUnrestrictedFundsns0:Activity92023-10-012024-09-3001466040ns0:Activity9ns0:TotalRestrictedIncomeFunds2023-10-012024-09-3001466040ns0:Activity92022-10-012023-09-3001466040ns0:Activity102023-10-012024-09-3001466040ns0:TotalUnrestrictedFundsns0:Activity102023-10-012024-09-3001466040ns0:Activity10ns0:TotalRestrictedIncomeFunds2023-10-012024-09-3001466040ns0:Activity102022-10-012023-09-3001466040ns0:Activity82023-10-012024-09-3001466040ns0:TotalUnrestrictedFundsns0:Activity82023-10-012024-09-3001466040ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-10-012024-09-3001466040ns0:Activity82022-10-012023-09-3001466040ns0:TotalUnrestrictedFunds2023-09-3001466040ns0:TotalRestrictedIncomeFunds2023-09-3001466040ns0:TotalUnrestrictedFunds2024-09-3001466040ns0:TotalRestrictedIncomeFunds2024-09-3001466040ns10:WithinOneYear2024-09-3001466040ns10:WithinOneYear2023-09-300146604022023-10-012024-09-300146604032023-10-012024-09-3001466040122023-10-012024-09-3001466040122022-10-012023-09-3001466040142023-10-012024-09-3001466040142022-10-012023-09-30
REGISTERED COMPANY NUMBER: 01466040 (England and Wales)
REGISTERED CHARITY NUMBER: 1026687















Report of the Trustees and

Unaudited Financial Statements for the Year Ended 30 September 2024

for

Jacob Sheep Society Limited(The)

Jacob Sheep Society Limited(The)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 13

Jacob Sheep Society Limited(The) (Registered number: 01466040)

Report of the Trustees
for the Year Ended 30 September 2024


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 30 September 2024. 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).

The trustees are referred to as members and comprise the Council, which is the ruling body of the Society.

OBJECTIVES AND ACTIVITIES
Objectives and aims
The Society is a registered charity and continues to advance and promote agriculture by encouraging the breeding of Jacob Sheep and improving the Jacob Sheep Breed. Membership has decreased by 168 members (73 new members joined and 241 left). The Society had a total of 735 members at the year-end of whom 692 were Ordinary Members. In addition to the Ordinary Members the society also has 42 Life Members and 1 Honorary Member.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The result for the year to 30 September 2023 was an excess of expenses over income of £6,364 compared to an excess of income over expenses of £3,556 in the previous year before gains or losses on investments. Expenditure was 109% (2022 95%) of income.
The balance of total funds carried forward at 30 September 2023 amounted to £298,431 which was split £290,183 General Funds and £8,248 Restricted Funds.

FINANCIAL REVIEW
Reserves policy
The Trustees' Reserves Policy is to maintain unrestricted free reserves sufficient to finance setting up a separate office for the Society, to fund such projects as Council shall decide, and to cover the administration of the Society for a year in the event of a collapse in the membership base. Our reserves meet this requirement.

FUTURE PLANS
No significant future developments are envisaged.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a private company limited by guarantee incorporated 10 December 1979, and is governed by the memorandum and articles of association (the latest adopted version being 22 April 2023).

The Society is a non-profit making organisation, limited by guarantee and having no share capital. In the event of the Society being wound up, each member's liability is restricted to an amount not exceeding £1.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01466040 (England and Wales)

Registered Charity number
1026687

Registered office
27 Odell Place
Edgbaston
Birmingham
B5 7RG


Jacob Sheep Society Limited(The) (Registered number: 01466040)

Report of the Trustees
for the Year Ended 30 September 2024

Trustees

Officers
President Mr J Emberton
Chairman
Vice Chairman Mrs J East
Treasurer Mrs L J Pope
Field Officer Mr C Richardson

Ordinary Members
Regional Council Member for Central Region Mrs K Carpenter
Regional Council Member for Eastern Region Mr T Green
Regional Council Member for Ireland Region Mr M Kehoe
Regional Council Member for Northern Region Mrs E Chester (appointed 27/04/2024)
Regional Council Member for Scotland Region Mrs M J Harper
Regional Council Member for Southern Region Mr P Gorringe
Regional Council Member for South West Region Mr R Fenwick
Regional Council Member for Wales Region Mrs A Ross (appointed 27/04/2024)

Members resigned in the year
Mrs S Harries (Resigned 01/07/2024)
Mrs J Simmons (Resigned 01/07/2024)

Company Secretary
J L Emberton

Independent Examiner
Victoria Ivinson
EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

MEMBERS
At 30 September 2023 there were 735 fully paid up Members of the Society. Ordinary Members numbered 692; in addition there were 42 Life Members and 1 Honorary Members.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 12 March 2025 and signed on its behalf by:





J L Emberton - Secretary

Independent Examiner's Report to the Trustees of
Jacob Sheep Society Limited(The)

Independent examiner's report to the trustees of Jacob Sheep Society Limited(The) ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.








Victoria Ivinson

EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

12 March 2025

Jacob Sheep Society Limited(The)

Statement of Financial Activities
for the Year Ended 30 September 2024

30/9/24 30/9/23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 135 - 135 342

Charitable activities 4
Subscription & membership 19,014 - 19,014 19,654
Registration 26,062 - 26,062 25,467

Other trading activities 2 24,353 - 24,353 16,026
Investment income 3 12,979 - 12,979 8,960
Other income - - - 125
Total 82,543 - 82,543 70,574

EXPENDITURE ON
Raising funds 5 25,041 - 25,041 13,920

Charitable activities 6
Breed promotion & improvement 60,844 333 61,177 63,018
Total 85,885 333 86,218 76,938

Net gains on investments 15,039 - 15,039 5,084

NET INCOME/(EXPENDITURE) 11,697 (333 ) 11,364 (1,280 )


RECONCILIATION OF FUNDS
Total funds brought forward 290,183 8,248 298,431 299,711

TOTAL FUNDS CARRIED FORWARD 301,880 7,915 309,795 298,431

CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.

Jacob Sheep Society Limited(The) (Registered number: 01466040)

Balance Sheet
30 September 2024

30/9/24 30/9/23
Notes £    £   
FIXED ASSETS
Investments 10 204,294 189,255

CURRENT ASSETS
Stocks 11 4,917 4,648
Debtors 12 9,415 4,291
Cash at bank 98,349 106,777
112,681 115,716

CREDITORS
Amounts falling due within one year 13 (7,180 ) (6,540 )

NET CURRENT ASSETS 105,501 109,176

TOTAL ASSETS LESS CURRENT
LIABILITIES

309,795

298,431

NET ASSETS 309,795 298,431
FUNDS 15
Unrestricted funds:
General fund 301,880 290,183
Restricted funds:
Pat Bromley Memorial Fund 7,915 8,248
TOTAL FUNDS 309,795 298,431

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.


Jacob Sheep Society Limited(The) (Registered number: 01466040)

Balance Sheet - continued
30 September 2024

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 12 March 2025 and were signed on its behalf by:





J L Emberton - Trustee

Jacob Sheep Society Limited(The)

Notes to the Financial Statements
for the Year Ended 30 September 2024

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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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.

Stocks
Stock of merchandise. Stocks are valued at the lower of cost and estimated net realisable value.

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.

Designated funds are unrestricted funds which the members have set aside to be utilised against a specific purpose.

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.

Breed promotion
Breed promotion costs represent only the direct costs of promoting and encouraging the breeding of Jacob Sheep. The associated indirect costs are included within Breed Improvement Costs and Support Costs.

2. OTHER TRADING ACTIVITIES
30/9/24 30/9/23
£    £   
Journal advertising income 80 80
Regional activity income 1,836 1,690
Annual AGM income 19,330 11,377
Sale of Merchandise income 2,857 1,528
Flock assessment 250 1,351
24,353 16,026

Jacob Sheep Society Limited(The)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. INVESTMENT INCOME
30/9/24 30/9/23
£    £   
Deposit account interest 3,215 1,980
Dividend income 2,890 2,868
Dividends on Life Members Fund 6,874 4,112
12,979 8,960

4. INCOME FROM CHARITABLE ACTIVITIES
30/9/24 30/9/23
Subscription Total Total
& membership Registration activities activities
£    £    £    £   
Subscriptions & joining fees 17,475 - 17,475 18,145
Gift Aid receipts 1,539 - 1,539 1,509
Registration fees - 25,522 25,522 25,092
Flock Book sales etc - 540 540 375
19,014 26,062 45,076 45,121

5. RAISING FUNDS

Other trading activities
30/9/24 30/9/23
£    £   
Opening stock 4,648 3,918
Closing stock (4,917 ) (4,648 )
Regional activity costs 2,623 939
National activity costs - AGM 19,305 9,241
Sale of Merchandise costs 2,229 854
Flock assessment costs 1,153 3,616
25,041 13,920

6. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 7) note 8) Totals
£    £    £   
Breed promotion & improvement 12,693 48,484 61,177


Jacob Sheep Society Limited(The)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. DIRECT COSTS OF CHARITABLE ACTIVITIES
30/9/24 30/9/23
£    £   
Stand rent & maintenance 2,186 1,572
Transport & travel BP 907 1,320
Rosettes, banners & trophies 282 2,400
Affiliation fees 115 202
Website costs 139 565
Show & Sale costs 7,165 8,584
Membership Costs 788 1,349
Field Officer travel 696 226
Judges training costs 82 280
Young Handler training costs 333 -
12,693 16,498

8. SUPPORT COSTS
Governance
Management Finance costs Totals
£    £    £    £   
Breed promotion & improvement 43,822 43 4,619 48,484

Support costs, included in the above, are as follows:
30/9/24 30/9/23
Breed
promotion Total
& improvement activities
£    £   
Secretary's expenses 359 408
Handbook printing costs - 1,778
Grassroots costs 20,821 22,112
Council costs 6,408 1,936
Flockbook costs 874 923
Journal magazine 13,316 12,096
Insurance 1,004 725
Bank & Paypal Charges 340 338
Disease control 700 1,808
Foreign currency revaluation 43 3
Independent Examiners' fee 2,034 1,938
Bookkeeping fees 2,585 2,455
48,484 46,520


Jacob Sheep Society Limited(The)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.


Trustees' expenses

Trustees reclaimed expenses totalling £5,355 during the year (2023: £4,544).

10. FIXED ASSET INVESTMENTS

30/9/24 30/9/23
Market Market
Cost Value Cost Value
Units £ £ £ £
6,245 M&G Charifund 52,806 97,575 52,806 91,940
5,265 COIF Charities Investment Fund 69,725 106,719 69,725 97,315
122,531 204,294 122,531 189,255

11. STOCKS
30/9/24 30/9/23
£    £   
BP Merchandise 4,917 4,648

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Trade debtors 754 1,463
Other debtors 1,539 1,514
Prepayments and accrued income 7,122 1,314
9,415 4,291

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Trade creditors 641 3,192
Other creditors 4,243 989
Accrued expenses 2,296 2,359
7,180 6,540


Jacob Sheep Society Limited(The)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
30/9/24 30/9/23
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Investments 204,294 - 204,294 189,255
Current assets 104,766 7,915 112,681 115,716
Current liabilities (7,180 ) - (7,180 ) (6,540 )
301,880 7,915 309,795 298,431

15. MOVEMENT IN FUNDS
Net
At movement At
1/10/23 in funds 30/9/24
£    £    £   
Unrestricted funds
General fund 290,183 11,697 301,880

Restricted funds
Pat Bromley Memorial Fund 8,248 (333 ) 7,915

TOTAL FUNDS 298,431 11,364 309,795

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 82,543 (85,885 ) 15,039 11,697

Restricted funds
Pat Bromley Memorial Fund - (333 ) - (333 )

TOTAL FUNDS 82,543 (86,218 ) 15,039 11,364


Jacob Sheep Society Limited(The)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
At movement between At
1/10/22 in funds funds 30/9/23
£    £    £    £   
Unrestricted funds
General fund 291,213 (1,280 ) 250 290,183

Restricted funds
Prize Fund 250 - (250 ) -
Pat Bromley Memorial Fund 8,248 - - 8,248
8,498 - (250 ) 8,248
TOTAL FUNDS 299,711 (1,280 ) - 298,431

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 70,574 (76,938 ) 5,084 (1,280 )

TOTAL FUNDS 70,574 (76,938 ) 5,084 (1,280 )

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
At movement between At
1/10/22 in funds funds 30/9/24
£    £    £    £   
Unrestricted funds
General fund 291,213 10,417 250 301,880

Restricted funds
Prize Fund 250 - (250 ) -
Pat Bromley Memorial Fund 8,248 (333 ) - 7,915
8,498 (333 ) (250 ) 7,915
TOTAL FUNDS 299,711 10,084 - 309,795

Jacob Sheep Society Limited(The)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

15. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 153,117 (162,823 ) 20,123 10,417

Restricted funds
Pat Bromley Memorial Fund - (333 ) - (333 )

TOTAL FUNDS 153,117 (163,156 ) 20,123 10,084

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 September 2024.