REGISTERED COMPANY NUMBER: 01910813 (England and Wales)

REGISTERED CHARITY NUMBER: 274498

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

MURRAY GREY BEEF CATTLE SOCIETY LIMITED

Page

Report of the Trustees

1

Statement of Financial Activities

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

9

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 31st December 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).

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

01910813 (England and Wales)

Registered Charity number

274498

Registered office

Pen-Twyn

Llangenny

Crickhowell

Powys

NP8 1HD

Trustees

R A Kent

J P Chapman (appointed 22.5.2025)

J W Crane

S Owen (resigned 22.5.2025)

P M Hemingway (resigned 22.5.2025)

P J Westaway (appointed 22.5.2025)

K E Westaway (appointed 22.5.2025)

Company Secretary

R A Kent

Approved by order of the board of trustees on 30th September 2025 and signed on its behalf by:

J P Chapman - Trustee

2024

2023

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

4,718

6,803

EXPENDITURE ON

Raising funds

350

1,892

Charitable activities

3

Charitable Activities Expenditure

4,711

5,640

Other

76

90

Total

5,137

7,622

NET INCOME/(EXPENDITURE)

(419

)

(819

)

RECONCILIATION OF FUNDS

Total funds brought forward

(2,411

)

(1,592

)

TOTAL FUNDS CARRIED FORWARD

(2,830

)

(2,411

)

2024

2023

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Tangible assets

7

433

509

CURRENT ASSETS

Debtors

8

1,262

1,776

Cash at bank

1,012

903

2,274

2,679

CREDITORS

Amounts falling due within one year

9

(5,537

)

(5,599

)

NET CURRENT ASSETS/(LIABILITIES)

(3,263

)

(2,920

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,830

)

(2,411

)

NET ASSETS/(LIABILITIES)

(2,830

)

(2,411

)

FUNDS

10

Unrestricted funds

(2,830

)

(2,411

)

TOTAL FUNDS

(2,830

)

(2,411

)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 30th September 2025 and were signed on its behalf by:

J P Chapman - Trustee

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.

Governance costs

These include the costs attributable to the Charity's compliance with constitutional and statutory requirements, including audit, strategic management and Trustee's meetings and reimbursed expenses.

Tangible fixed assets

Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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.

2.	DONATIONS AND LEGACIES

Donations are recognised when the charity has been notified in writing of both the amount and the settlement date. In the event that a donation is subject to conditions that require a level performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

3.	CHARITABLE ACTIVITIES COSTS

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024

2023

£

£

Depreciation - owned assets

76

90

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2024 nor for the year ended 31st December 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2024 nor for the year ended 31st December 2023.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

6,803

EXPENDITURE ON

Raising funds

1,892

Charitable activities

Charitable Activities Expenditure

5,640

Other

90

Total

7,622

NET INCOME/(EXPENDITURE)

(819

)

RECONCILIATION OF FUNDS

Total funds brought forward

(1,592

)

TOTAL FUNDS CARRIED FORWARD

(2,411

)

7.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st January 2024 and 31st December 2024

8,409

DEPRECIATION

At 1st January 2024

7,900

Charge for year

76

At 31st December 2024

7,976

NET BOOK VALUE

At 31st December 2024

433

At 31st December 2023

509

8.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,262

1,776

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

4,376

4,424

VAT

61

135

Accruals and deferred income

1,100

1,040

5,537

5,599

10.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted funds

General fund

(2,411

)

(419

)

(2,830

)

TOTAL FUNDS

(2,411

)

(419

)

(2,830

)

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

4,718

(5,137

)

(419

)

TOTAL FUNDS

4,718

(5,137

)

(419

)

Comparatives for movement in funds

Net

movement

At

At 1.1.23

in funds

31.12.23

£

£

£

Unrestricted funds

General fund

(1,592

)

(819

)

(2,411

)

TOTAL FUNDS

(1,592

)

(819

)

(2,411

)

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

6,803

(7,622

)

(819

)

TOTAL FUNDS

6,803

(7,622

)

(819

)

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

Net

movement

At

At 1.1.23

in funds

31.12.24

£

£

£

Unrestricted funds

General fund

(1,592

)

(1,238

)

(2,830

)

TOTAL FUNDS

(1,592

)

(1,238

)

(2,830

)

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

11,521

(12,759

)

(1,238

)

TOTAL FUNDS

11,521

(12,759

)

(1,238

)

11.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st December 2024.