The Shetland Pony Stud-Book Society - Charities report

REGISTERED COMPANY NUMBER: SC135563 (Scotland)

REGISTERED CHARITY NUMBER: SC014784

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2025

for

The Shetland Pony Stud-Book Society

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Notes to the Financial Statements

9

to

19

TRUSTEES

Mrs R M Fraser (resigned 31.12.25)

Mr J M Walters (resigned 18.5.25)

Mr D Gibson (appointed 1.1.26)

Ms L Wilson (resigned 28.4.25)

Ms C Seipp (appointed 4.7.25)

Mr SN True (resigned 21.7.25)

Mr S Mackay (resigned 31.12.25)

Ms C M Laignel (appointed 1.1.25)

Ms I Johnson

Mr M Cummings

Mrs L Joslin

Miss C Evans (resigned 23.6.25)

Mr M Davidson

Mr R S Pitcairn (resigned 9.4.26)

Mrs D Barr

Ms K Hodge (resigned 4.3.25)

Ms J H Priest (appointed 1.1.25)

Ms M Davenport (appointed 4.7.25)

Ms A Foster (appointed 25.7.25)

Ms K A Hampton (appointed 1.1.26)

Mr S J P Rendall (appointed 29.7.25)

Mr J Russ (appointed 1.1.26)

REGISTERED OFFICE

Shetland House

22 York Place

Perth

PH2 8EH

REGISTERED COMPANY

NUMBER

SC135563 (Scotland)

REGISTERED CHARITY

NUMBER

SC014784

INDEPENDENT EXAMINER

The Grant Considine Partnership

Chartered Accountants

46 High Street

Banchory

Aberdeenshire

AB31 5SR

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 2025. 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

Objectives and aims

The objectives of the Society are:

(a) to maintain, unimpaired, the purity of the breed of Shetland ponies, and to promote the breeding of these ponies;

(b) to collect, verify, pursue, preserve and publish the pedigrees of the said ponies and other useful information relating to them;

(c) to further the above objects by continuing the issue of the publication called 'The Shetland Pony Stud Book' under its present or any other name, and for that purpose to acquire the copyright and absolute property in the said publication, and sundry documents relating thereto or connected therewith,

(d) to set the breed standard of the Shetland pony;

(e) to receive subscriptions and other payments in return for or consideration of the issue of copies of the publications of the Society and the entry in any such publication of the names and pedigrees of Shetland ponies;

(f) to make bye-laws for conducting the business and regulating the proceedings of the Society and to enforce the same by fines or otherwise.

The Members of Council have paid due regard to guidance issued by OSCR in deciding what activities the charitable company should undertake.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The total membership at 31 December 2025 was as follows:-

Annual - 655

Annual crofter - 13

Junior - 57

Life - 178

Life crofter - 121

Joint annual - 139

Family annual - 6

Joint life - 4

Associate - 39

Honorary - 5

The number of foal registrations were slightly up on last year. 1747 foals were registered, 433 Mares, 169 Stallions and 222 Geldings.

This shows that a good sense of responsibility is being shown by breeders and is to be encouraged as the welfare of our ponies is always the first concern of the Society. Membership numbers have remained stable and enthusiasm for our breed is continuous. 0 ponies were exported in 2025.

FINANCIAL REVIEW

Investment policy and objectives

Prior to incorporation the Society held investments in two investment trusts and, since 1991, Council has seen no reason to dispose of these and intends to retain them to generate both income and capital growth.

The investments are invested at a low risk profile to avoid volatility.

Reserves policy

It is the policy of the company that unrestricted reserves readily convertible in to cash, therefore excluding the revaluation reserve, which have not been designated for specific use, should be maintained at a level equivalent to twelve months expenditure. The Members of Council consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the company's current activities while consideration is given to ways in which additional funds may be raised. At the balance sheet date the company held total reserves of £462,302 of which £131,462 related to revaluation reserve, £298,505 are unrestricted and £32,335 are designated.

Twelve months expenditure in 2025 amounted to £209,506 therefore the company has exceeded this level of free reserves, however, the Members of Council consider that retaining additional unrestricted funds is necessary due to the uncertainty over the implications on European movements and the impact they may have on Shetland Pony registrations and passports.

FUTURE PLANS

It continues to be a major duty of the Members of Council to monitor any expenditure and make economies wherever possible.

4 Meetings in 2025 were held in the Society office in Perth. There were also 5 Zoom meetings in 2025.

The AGM was held on the 16th August 2025, the Breed Show was held on the 17th August 2025, at the Weston Lawns Equestrian Centre in Bedworth.

The website launched in 2022 has proved to be a much better user experience for all. The shop being integrated also providing easy access to purchasers of Shetland Pony merchandise which we hope members will support to the benefit of their Society. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website.

Both the SPSBS and Shetland Pony Trading are on Facebook, the Trading page since May 2013 and the Society page since April 2021. Recent feedback has been positive with regards to the Society being on Facebook and hopefully, going forward, this will continue to be a good source of news/any updates for our members.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The society is a charitable company limited by guarantee, incorporated on 12th December 1991. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The company is registered as a charity in Scotland.

Recruitment and appointment of new trustees

Members of Council are elected by the Society's members at the AGM to serve a period of three years. Overall policy is determined by the Council. Day-to-day operations are the ultimate responsibility of the Council but are run on Council's behalf by the office staff who are in regular contact with the President, Vice President and Past President.

The Society's wholly-owned subsidiary, Shetland Pony Trading Limited, was established to deal with retailing of accessories, magazines etc on behalf of the Society and dealing with registrations and transfers for non-members, this has now been mothballed and activity incorporated in to the SPSBS.

Induction and training of new trustees

New Members of Council are provided with a booklet detailing their roles and responsibilities, copies of previous annual reports and accounts and recent Council minutes.

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 13 July 2026 and signed on its behalf by:

Ms C Seipp - Trustee

I report on the accounts for the year ended 31 December 2025 set out on pages six to nineteen.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report

My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention :

(1)	which gives me reasonable cause to believe that, in any material respect, the requirements

-	to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

-	to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

(2)	to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Gillian R Nicolson

The Institute of Chartered Accountants of Scotland

The Grant Considine Partnership

Chartered Accountants

46 High Street

Banchory

Aberdeenshire

AB31 5SR

13 July 2026

2025

2024

Unrestricted

Total

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

3

12,759

817

Charitable activities

180,796

147,494

Other trading activities

4

21,795

22,752

Investment income

5

4,109

4,712

Total

219,459

175,775

EXPENDITURE ON

Raising funds

6

6,450

5,953

Charitable activities

Cost of charitable activities

185,914

175,996

Other

17,142

14,932

Total

209,506

196,881

Net gains on investments

2,669

520

NET INCOME/(EXPENDITURE)

12,622

(20,586

)

RECONCILIATION OF FUNDS

Total funds brought forward

449,680

470,266

TOTAL FUNDS CARRIED FORWARD

462,302

449,680

2025

2024

Unrestricted

Total

funds

Notes

£

FIXED ASSETS

Intangible assets

12

-

640

Tangible assets

13

186,823

187,184

Investments

14

49,708

46,178

236,531

234,002

CURRENT ASSETS

Stocks

15

16,166

17,422

Debtors

16

5,859

2,829

Cash at bank and in hand

234,414

237,463

256,439

257,714

CREDITORS

Amounts falling due within one year

17

(30,668

)

(42,036

)

NET CURRENT ASSETS

225,771

215,678

TOTAL ASSETS LESS CURRENT

LIABILITIES

462,302

449,680

NET ASSETS

462,302

449,680

FUNDS

19

Unrestricted funds

462,302

449,680

TOTAL FUNDS

462,302

449,680

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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 and delivered in accordance with the special provisions applicable to small charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 13 July 2026 and were signed on its behalf by:

Ms C Seipp - Trustee

1.	CHARITY INFORMATION

The Shetland Pony Stud-Book Society is a private company limited by guarantee incorporated in Scotland. The registered office and registered numbers are shown under Reference and Administrative Details.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ( FRS 102), including the provisions of Section 1A applicable to Small Entities, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.

The charitable company is a Public Benefit Entity as defined by FRS 102.

The charity has availed itself of S396 of the Companies Act 2006, as permitted in paragraph 4 (1) of Schedule 1 of SI 2008 No 409, and adapted the Companies Act formats to reflect the special nature of the charity's activities.

The accounts are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these accounts are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principle accounting policies adopted are set out below.

Going Concern

At the time of approving the accounts, the Members of Council have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for at least the next 12 months. The Members of Council have not identified a material uncertainty to adopt thegoing concern basis of accounting in preparing the accounts.

Preparation of consolidated financial statements

The financial statements contain information about The Shetland Pony Stud-Book Society as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Critical accounting judgements and key sources of estimation uncertainty

The Members consider there to be no critical accounting estimates and judgements.

Income

Income is recognised when the charitable company is entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income from charitable activities is earned through the registration of shetland ponies and the sale of the stud-book. Income is recognised when the charitable company is legally entitled to it.

Investment income is earned through holding assets for investment purposes such as shares. Investment income is recognised when receivable.

Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category and include irrecoverable VAT. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Expenditure on charitable activities are costs incurred in direct pursuance of the Trust's principal objects and include support costs that assist the work of the charity but do not directly contribute towards the charitable activities. Support costs include administrative costs and governance costs.

Expenditure on raising funds includes investment manager costs.

Intangible fixed assets other than goodwill

Intangible assets represent website development costs. The intangible asset is amortised over its estimated useful life of 3 years.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis. The rates applied are:

Freehold Property

Nil

Equipment

20% reducing balance

Computers

25% reducing balance & 33% straight line

No depreciation is provided on freehold property on the ground that it would be immaterial because the estimated residual value of the property will not be materially different from the carrying value as it is the charity's policy to maintain the building in such condition that its value is not diminished by the passage of time.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 Members of Council in furtherance of their charitable objectives unless the funds have been designated for other purposes. Unrestricted general funds include a revaluation reserve arising on the revaluation of certain fixed assets. This reserve is unrealised.

Restricted funds can only be used for particular restricted purposes within the objects of the charitable company. 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company's contractual obligations expire or are discharged or cancelled.

3.	DONATIONS AND LEGACIES

Donations include:

2025

2024

£

General donations

12,759

817

Total

12,759

817

General donations includes £12,644 relating to payments in advance from previous members who cannot be contacted to be refunded. As these balances are historical, the society has written them off and accounted for the income as unrestricted general donations.

4.	OTHER TRADING ACTIVITIES

2025

2024

£

Merchandise sales

2,332

1,863

Non member stud-book reg

15,991

16,391

Other non member income

3,472

4,498

21,795

22,752

5.	INVESTMENT INCOME

2025

2024

£

Dividends

1,808

1,528

Deposit account interest

2,301

3,184

4,109

4,712

6.	RAISING FUNDS

Other trading activities

2025

2024

£

Purchases

6,299

5,809

Investment management costs

2025

2024

£

Support costs

151

144

Aggregate amounts

6,450

5,953

7.	SUPPORT COSTS

Governance

Other

costs

Totals

£

Investment management costs

151

-

151

Other resources expended

-

17,142

Cost of charitable activities

58,009

-

58,009

58,160

17,142

75,302

All support costs are allocated to general undesignated funds.

8.	NET INCOME/(EXPENDITURE)

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

2025

2024

£

Independent examiners' fee

3,571

2,625

Other non-audit services

2,084

767

Depreciation - owned assets

1,099

1,076

Hire of plant and machinery

4,707

4,101

Website development amortisation

640

743

9.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or benefits for the year ended 31 December 2025.

Trustees' expenses

No trustees' expenses were paid for the year ended 31 December 2025.

10.	STAFF COSTS

2025

2024

£

Wages and salaries

83,475

79,000

Social security costs

691

380

Other pension costs

4,600

3,671

88,766

83,051

The average monthly number of employees during the year was as follows:

2025

2024

Office and management

4

No employees received emoluments in excess of £60,000.

11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

817

Charitable activities

147,494

Other trading activities

22,752

Investment income

4,712

Total

175,775

EXPENDITURE ON

Raising funds

5,953

Charitable activities

Cost of charitable activities

175,996

Other

14,932

Total

196,881

Net gains on investments

520

NET INCOME/(EXPENDITURE)

(20,586

)

RECONCILIATION OF FUNDS

Total funds brought forward

470,266

TOTAL FUNDS CARRIED FORWARD

449,680

12.	INTANGIBLE FIXED ASSETS

Website

development

£

COST

At 1 January 2025 and 31 December 2025

5,250

AMORTISATION

At 1 January 2025

4,610

Charge for year

640

At 31 December 2025

5,250

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

640

13.	TANGIBLE FIXED ASSETS

Freehold

Computer

property

Equipment

equipment

Totals

£

COST OR VALUATION

At 1 January 2025

185,000

31,453

16,768

233,221

Additions

-

242

496

738

At 31 December 2025

185,000

31,695

17,264

233,959

DEPRECIATION

At 1 January 2025

-

30,939

15,098

46,037

Charge for year

-

147

952

1,099

At 31 December 2025

-

31,086

16,050

47,136

NET BOOK VALUE

At 31 December 2025

185,000

609

1,214

186,823

At 31 December 2024

185,000

514

1,670

187,184

Cost or valuation at 31 December 2025 is represented by:

Freehold

Computer

property

Equipment

equipment

Totals

£

Valuation in 2019

222,472

-

222,472

Valuation in 2023

(120,000

)

-

(120,000

)

Cost

82,528

31,695

17,264

131,487

185,000

31,695

17,264

233,959

If freehold property had not been revalued it would have been included at the following historical cost:

2025

2024

£

Cost

82,528

Freehold property was valued on an open market basis on 10 April 2024 by Graham & Sibbald Chartered Surveyors .

14.	FIXED ASSET INVESTMENTS

Shares in

Cash and

group

Listed

settlements

undertakings

investments

pending

Totals

£

MARKET VALUE

At 1 January 2025

100

42,336

3,742

46,178

Additions

-

862

Revaluations

-

2,668

-

2,668

At 31 December 2025

100

45,004

4,604

49,708

NET BOOK VALUE

At 31 December 2025

100

45,004

4,604

49,708

At 31 December 2024

100

42,336

3,742

46,178

There were no investment assets outside the UK.

Cost or valuation at 31 December 2025 is represented by:

Shares in

Cash and

group

Listed

settlements

undertakings

investments

pending

Totals

£

Valuation in 2025

100

45,004

4,604

49,708

The company's investments at the balance sheet date in the share capital of companies include the following:

Shetland Pony Trading Limited

Registered office: 22 York Place, Perth, PH2 8EH

Nature of business: Retailing

%

Class of share:

holding

Ordinary

100

2025

2024

£

Aggregate capital and reserves

1,371

Profit for the year

-

6

Listed investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Fair value is the market value of the investment at the reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

Investments in subsidiaries are measured at cost less impairment. A subsidiary is an entity controlled by the charitable company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

15.

STOCKS

2025

2024

£

Stocks

16,166

17,422

16.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

40

-

Amounts owed by group undertakings

1,296

64

Other debtors

2,000

1,217

Prepayments

2,523

1,548

5,859

2,829

17.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

636

1,674

Social security and other taxes

581

1,176

VAT

8,825

4,799

Other creditors

388

476

Accruals and deferred income

20,238

33,911

30,668

42,036

Deferred income represents advance funds received for subscriptions and other services relating to 2026. Included in Accruals and deferred income is deferred income as follows:

2025

2024

£

Deferred income brought forward

23,622

19,675

Charitable Activity Income released during year

(18,692

)

(1,851

)

Charitable Activity Income deferred at year end

4,604

5,798

Deferred income carried forward

9,534

23,622

18.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

Within one year

5,262

3,804

Between one and five years

20,565

5,208

25,827

9,012

19.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

Unrestricted funds

General fund

417,387

12,580

429,967

The Countess De La Warr Fund

26,839

-

26,839

Breed Show Fund

4,160

42

4,202

Ian Beever Trust Fund

1,294

-

1,294

449,680

12,622

462,302

TOTAL FUNDS

449,680

12,622

462,302

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

219,417

(209,506

)

2,669

12,580

Breed Show Fund

42

-

42

219,459

(209,506

)

2,669

12,622

TOTAL FUNDS

219,459

(209,506

)

2,669

12,622

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

Unrestricted funds

General fund

437,973

(20,586

)

417,387

The Countess De La Warr Fund

26,839

-

26,839

Breed Show Fund

4,160

-

4,160

Ian Beever Trust Fund

1,294

-

1,294

470,266

(20,586

)

449,680

TOTAL FUNDS

470,266

(20,586

)

449,680

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

175,775

(196,881

)

520

(20,586

)

TOTAL FUNDS

175,775

(196,881

)

520

(20,586

)

The funds of the charity include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

The Countess De La Warr Fund includes donations received from various fundraising events organised by Countess De La Warr Fund in 2013, 2021 and 2022. None of the donations received had any restriction on them and the Members of Council have agreed to allocate these donations to a designated fund to be utilised in the event of there being insufficient unrestricted reserves to covers costs of repairs to the building.

The Breed Show Fund relates to an accumulation of surpluses generated from Breed Shows held in the past which is to be used towards the costs of running future Breed shows and for the benefit of the Society.

The board have agreed to designate the balance on the Ian Beever Trust fund to be used to fund a prize at a Shetland Pony Show.

20.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2025.