Texel Sheep Society AGM Booklet 2014

SHEEP SOCIETY

AGM WEEKEND

FRIDAY 7TH - SUNDAY 9th NOVEMBER Carden Park, Broxton Road, Nr Chester, Cheshire, CH3 9DQ T: 02476 696 629 E: office@texel.co.uk

www.texel.co.uk

The Texel Sheep Society would like to thank all Sponsors of the 40th Anniversary Celebrations for their generosity and support.

Contents Page i ii iii iv v vi viii

Contents Programme of events for the AGM & Social weekend 2014 AGM Notice and Agenda Chairman’s annual report Directors attendance record - 1st April 2013 - 31st March 2014 Chief Executives annual report Minutes of the 2013 Annual General Meeting held on Saturday 2nd November 2013 in the Cowbridge Room, Vale Resort, Hensol, CF72 8JY xiii Accounts for the period ending 31st March 2014

1 to 5 Report of the Trustees

6 to 7 Report of the Independent Auditors

8 Statement of financial activities

9 to 10 Balance sheet

11 to 15 Notes to the financial statements xviii xxvii

Sponsors adverts Proxy voting form

A full programme is available at www.texel.co.uk/socialandagm All social event times are approximate.

Some events may be subject to change

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Social Weekend Programme of events Friday 7th November 3.00pm 6.30pm 7.30pm

Check in commences The Chairman’s welcome wine reception Dinner in the Carden Suite with presentations and awards followed

by Casino Night

Saturday 8th November 7.30am - 10.30am 9.30am - 1.00pm

1.00pm - 2.30pm 4.00pm 6.30pm 7.30pm

Breakfast in Redmonds Restaurant After enjoying a leisurely breakfast the Texel Challenge commences at the activity centre, alternatively the day is yours to do with as you wish. Maybe relax around the hotel pool, spoil yourself to a treatment at the spa, book a round of golf or visit one of the many local attractions.

(The Texel Challenge places are very limited - Pre-book with the Texel office) Spa treatments at the Carden Park Spa are discounted for Texel guests, book directly on 01829 731000 Carden Park has two Championship Golf courses book directly on 01829 731003.

A light lunch will be served in Redmonds Restaurant AGM in the Tilston Suite The 40th Anniversary wine reception Dinner in the Carden Suite followed by dancing to the excellent “Sally Army” Band

Sunday 9th November 7.30am - 10.30am 11.00am

Breakfast in Redmonds Restaurant Checkout.

We acknowledge with thanks the kind sponsorship of the 40th Anniversary wine receptions from BOCM Pauls Ltd, Carrs Billington, CCM Auctions, GENESEEK Europe, Harrison & Hetherington, Lawrie & Symington, McCartneys, North West Texel Breeders Club, and Trouw Nutrition.

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AGM Notice Notice is hereby given that the forty-first Annual General Meeting of The British Texel Sheep Society Limited will be held at 4.00pm on Saturday November 8th 2014 at Carden Park Hotel, Chester, CH3 9DQ in the Tilston Suite 1.

2.

3.

4.

5.

6.

7.

8.

To Receive apologies for absence RESOLUTION: To approve the minutes of the fortieth Annual General Meeting held in the Cowbridge Room, Vale Resort, Hensol, CF72 8JY To receive the Chairman’s report To receive the Chief Executive’s report RESOLUTION: To receive and adopt the Statement of Accounts and Balance Sheet for the Society for the year ending 31st March 2014 RESOLUTION: To re-appoint Dafferns & Co of Leamington Spa as Auditors of the Society Results of the official Society elections 2014.

Any other business.

By order of the board John Yates Chief Executive & Company Secretary 1st October 2014

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THE BRITISH TEXEL SHEEP SOCIETY LIMITED

Henry Gamble - Chairman’s report

RECORD prices for Texels generate eye catching headlines across the farming press as I compose my report. It is most pleasing to see higher clearance rates at all four national sales and an unprecedented demand from both commercial and pedigree producers.

The numerous top prices received by young breeders and others new to our breed make these reports all the more pleasing to read. Like any successful organisation the Society needs a steady influx of youth willing to learn from experienced breeders and bring added energy to the business of producing sheep that match ever changing market needs.

While working with our sheep at Springwell, I have pondered why there is such an excellent demand for pedigree Texels when returns from commercial lambs are best described as volatile.

Part of the answer must be the sheer ability of Texels to add margin to lambs produced from a huge range of crosses and under so many different management systems.

The British Texel will always be the nation’s premier lowland terminal sire, but now our flexible breed is playing an equally vital role in hill as well as lowland commercial flocks. Indeed Texel genetics are also increasingly seen in the crossbred ewes used by commercial flock owners.

In the past 40 years many breeds have come to these shores, sparkled briefly and then almost faded from view. By contrast the British Texel continues to shine as our breed has traits vital in adding value when meat plant prices are weak as when markets are buoyant.

Farming coastal land that is less than 50 metres above sea level means our own flock are reared in conditions not that different to those in the breed’s Dutch homeland. Yet on mountains within sight of home, Texel crossbreds’ summer graze at over 500 metres, a trend seen nationwide as hill farmers seek better returns by using Texels.

Our adaptable breed also benefits from a Society membership whose enthusiasm, good stockmanship and appetite for change never fails to impress. A membership well served by the ‘Stoneleigh stalwarts’, our excellent, highly motivated team in the Society office. As breeders we are equally well served by a board of directors, whose commitment in time and energy to the Texel Society never fails to impress.

Our Society and its progressive breeders are looking ahead to making the best possible use of DNA biotechnology augers well for the future.

In life some folk fear change, others see change as a challenging opportunity to be seized. The British Texel Sheep Society succeeds by showing willingness to embrace change as standing still is never an option on the road to success.

As Texel breeders our business is producing sheep that efficiently produce profitable lambs for commercial flock owners. By continuing to fill that role the Texel breeders of Britain enjoy success in good times and challenging times.

Henry Gamble Chairman

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List of Directors’ attendance at Board meetings - 1st April 2013 - 31st March 2014 DIRECTOR

AREA

BOARD MEETINGS

Graeme Knox

1

4/4

Andrew Barr

2

1/2

David McKerrow

3

4/4

Roy Campbell

4

1/2

Steve Richardson

5

4/4

Jeff Aiken

6

2/2

Peter Sutton

7

3/4

Aubrey Andrews

8

4/4

Nick Tavernor

9

4/4

Iolo P Jones

10

2/2

John Davies

11

4/4

Henry Gamble

12

4/4

Roy Hughes

13

2/4

Alan Clark

2

2/2

Robert Cartledge

6

2/2

Alwyn Phillips

10

1/2

Tim Healy

Co-opted for BASCO (up until November 7th 2013)

0/2

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THE BRITISH TEXEL SHEEP SOCIETY LIMITED

John Yates - Chief Executive’s report

40 years young.....prospects for our future We are approaching the culmination of what has been another incredible year for the Texel Society and it’s that time again to reflect on the delivery of our principal activity; “that of encouraging, promoting and improving the breeding of Texel sheep in the United Kingdom of Great Britain and Northern Ireland.”

Our focus has largely been on increased promotion of the breed, support of membership at the variety of social events held throughout the UK, with of course the spotlight on our AGM Social weekend. This event has now become a major attraction and pilgrimage for many of our members.

With our clear vision, reaching far ahead into the future, maintaining ambition and with focus, I’m sure the most exciting times are to come as we drive our strategic development of our breed.

• Expansion of our Performance Recorded Texel Scheme, now providing in excess of 16K “across flock” evaluated lambs, matchless in the sheep industry.

• Refinement of our data collection service through our co-owned Basco system, with the long term aim to lower costs and increase and widen data collection activity.

• Sustained support by subsidising novel technologies such as the mobile CT scanner, which would otherwise be unavailable to our breeders.

• Extension of our Estimated Breeding Values (EBVs) offering novel traits measurements to complement the proven conventional carcase traits already widely used by the membership. The most recent of which is the Birth Weight and Lambing Ease Values, with new Scrotal measurement values in development.

• Initiating our Gene-Tex programme in early 2013, a first by a sheep breed society for routine DNA sampling and results published online, complemented with use of a simple DNA nasal sampling device. The first phase aimed at monitoring and managing parentage within our flock book and protecting pedigree, with new phases due to be launched in early 2015 to encompass 8K to 800K SNP genotyping.

• Adding value by improving confidence and maintaining respect of our quality mark pedigrees produced by “British Texel.”

• Supporting our youth commitment to Industry, we have created a new role at the Society in the form of a “Technical Manager” to support promotion of PRT, manage research projects and liaise with the wider membership as part of our Knowledge Transfer responsibility. Providing a new graduate opportunity to help in accelerating our business led innovation to benefit members.

With our continued embrace of “data and DNA” we will drive change, improve accuracy of our data, increasing the collection and the analysis thereof more affordably. With both data and DNA combining to provide the Society with new opportunities and further exploitation of the breed with use of advanced genetic tools by our members.

Genome screening will provide a greater insight in to the makeup of the genes within our breed, and with that, the potential for increased commercial value and market for our breed and your flocks’ future success.

We have always had a drive to collaborate and progress the Society and the breeds’ development over the past 40 years. Industry reports produced in 2013 clearly show the popularity of our breed, its usefulness and versatility and its rise to its enviable position today. If we are to continue to invest in new technologies, to enhance the breeds

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THE BRITISH TEXEL SHEEP SOCIETY LIMITED

appeal based on functional traits and market requirements, your customers needs! Then through the Society we can combine all members’ energy to ensure our breed succeeds on your behalf, well into the future.

The Society will begin a large investment programme in 2015, combining all of its success and knowhow culminated over the last 40 years in an industry leading initiative. With support from InnovateUk, the Governments’ Technology Strategy Board, the combined investment will be in excess of £600K over the next 2 years, with a far reaching impact beyond those years and potential for further investment. Focusing on utilising Genomic technologies to research and implement solutions for the management of disease, such as Mastitis, Foot Rot and Internal Parasite challenge and in time novel carcase quality traits. This exciting genomic programme will fuel the Societies breed development plan, to the benefit of all that are part of our Pedigree Society. Further information will be available on this project in early 2015.

It has been a tremendous year in the show ring for the breed with a significant number of Interbreed successes at major shows. Autumn sales have proven to be some of the most successful in our 40 year history. The Scottish National breaking records with the sale grossing in excess of £1M for the first time, clearly supported by an insatiable commercial demand, providing the highest clearance rate ever achieved at this flag ship breeders sale.

Both of the largest commercial ram sales followed suit with appetite for Texel, the highest witnessed at these sales. Commercial breeders invest assertively in our breed, even at times when there is volatility in the prime lamb market, which is a measure of their confidence in British Texel. The plethora of club and commercial sales also clearing sales with ease to improved averages. These remain the back bone of our commercial sales and with that the continued success of the club structure, which supports the valued local social programmes.

The robustness of the Society is evident when reading the year end Trustees report. With the constant careful financial management that allows for continued investment in our principal activity. Assisting breed promotion, our vital youth development programme, shows, social and sales events and our own breed development initiatives. These would otherwise be unaffordable and remain unexploited for the individual flocks to the detriment of the breeds own development and existence.

Our provenance, versatility and our vision are our strength. Providing structure and leadership is paramount, however communicating and cooperating remain essential ingredients, if we are to protect and propel the Texel Society towards another 40 years of success.

For many members embracing new technology is already a reality with routine data collection and DNA sampling.

This is not something members should fear but embrace and members should rest assured that the Society has a clear focus on how it will manage these new opportunities for and on behalf of the membership and with that we will share in the continual success of British Texel for many years to come.

John Yates Chief Executive

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Minutes of the Texel Sheep Society AGM that took place at 4.00pm on Saturday 2nd November 2013 in the Cowbridge Room, Vale Resort, Hensol, CF72 8JY

In Attendance Mr Nick Tavernor – Chairman & President Henry Gamble - Vice Chairman & Vice President John Yates – Chief Executive Gil Burton – Minute taker + 67 Members in attendance The Chairman thanked all present for attending the Society AGM, and declared the meeting open at 4.00pm.

1.

To receive apologies for absence NT advised apologies were received from the following members.

Alwyn Phillips - PAP - Penygelli David Uffold - UIB - Broncroft Jean Wrench - WJC - Cae-Hic Paul Phillips - PPK - Kimbolton Mr & Mrs R Campbell - CXR - Royel Andy Barr - BAH - Parkhouse Anna Smith - SJP - Penparc Nicky Warnock - WNT - Tumble Tye Katie Potter - PKW - Wytherling Tim Healy - HTW - Wealdon Peter Sutton - TFW & TDV - Colwood & High Weald Roy Hughes - HRT - Trefonnen Gordon Gray - GGH - Ettrick Frank Griffies - GAR - Tushingham Victor Chestnutt - Clougher Keith Campbell - CKC - Cowal Robert Laird - LTC - Cambwell Duncan Mellin - MJH - Hull House Charlie Boden - BCM - Mellor Vale Gareth Griffiths - ZZD - South Wales Texel Breeders Club

2.

Resolution to approve the minutes of the thirty-ninth Annual General Meeting held at Slaley Hall, Hexham, Northumberland, NE47 0BX. NT asked for any comments None forthcoming Proposed by Steve Richardson Seconded by Robert Cartledge

3.

To receive the Chairman’s report on the Society for the year ending 31st March 2013 NT referred to page 4 of the AGM booklet, re-capping on the report distributed previously to Members.

NT thanked the Members, Directors and Society staff for supporting him during his term as Chairman.

NT asked for any comments None forthcoming

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4.

To receive the Chief Executives report on the Society for the year ending 31st March 2013 The CE firstly welcomed all to the AGM and the Vale resort, he introduced the new Chairman, Henry Gamble, to those present.

The CE thanked the South Wales Club for hosting the social weekend, commenting that the flock visits had been outstanding.

The CE said he would like to thank Alan Clark for his dedication and assistance during his time on the Board of Directors. He said he understood Alan’s reason for stepping down but as he was a young man it was hoped he would be back to serve another term on the Society Board later in life.

The CE advised that the sad loss of Tommy MacTaggart had impacted heavily on the Board. He was a big loss and all at the Society offered their condolences to his family. He informed the Members that Roy Campbell would be representing Area 4, elected unopposed for the remaining term outstanding.

The CE thanked Robert Cartledge for his effective and dedicated approach during his time on the Board and welcomed Jeffrey Aiken as the regional Director for Area 6. The CE advised that Alwyn Phillips had sent his apologies, although this his last AGM as a Director he felt duty bound to attend the Sheep Breeders Round Table as the Texel representative, a subject that was of great importance to him. The CE welcomed Iolo Prys Jones to the Board representing area 10 saying he was a new star in the making, referring to his recent Fermio TV broadcast.

The CE said that for approximately four years, since Gordon Gray’s Chairmanship, the Society had been focussing on developing a useful official youth structure within the Society. With the youth initiative driven forward and supported by NT they now had a newly formed Youth Development Programme with a dedicated Committee to enhance and develop the variety of initiatives on offer and in development.

The CE referred to his presentation, advising of the various projects the Committee would be responsible for. He thanked the Northern Ireland Young Breeders who had arranged and hosted the “Five Nations” event in the summer, for which the Society had helped to financially support, stating it had been a useful event which he was sure the NI Club would nurture.

The CE advised all present of the Youth Development Committee Members and areas they were representing. He said they were a fantastic group of individuals. He believed they would work well as a team. He added that he looked forward to assisting them to make best use of the Society support on offer. Their first meeting was scheduled for December 2013.

The CE quoted key notes contained within his report in the AGM booklet.

He thanked the Membership for making the shows and social occasions so popular; after all there would be no Society without the members. He advised 105 member, friends and family had attended dinner the previous evening with in excess of 150 booked for the main dinner dance. He said the 2014 40th Anniversary celebratory year would include overseas trips to Switzerland, New Zealand and Eurotier/Hanover. The AGM and social weekend would take place at Carden Park, Chester, and reservations were already being booked by Members.

NT asked for any comments None forthcoming

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5.

Resolution to receive and adopt the Statement of Accounts and Balance Sheet for the Society for the year ending 31st March 2013 CE explained in detail the figures held within the Statement of Accounts and Balance sheet published in the AGM booklet.

He supported the Chairman’s summary, adding that the Society was managed well financially and continued to perform well. Additionally the Society continues to invest in and improve Members services, the development of its database and promotional tools, all of which help to improve information flow between the Society and its membership and with the wider industry.

NT asked for any comments None forthcoming Proposed by David McKerrow Seconded by Jimmy Warnock

6.

Resolution to re-appoint Dafferns & Co of Leamington Spa as Auditors of the Society.

NT asked for any reasons for not appointing the current auditors of the Society for the coming year.

None forthcoming Proposed by Graham Jones Seconded by Alan Clark NT asked if there were any further questions on Society matters.

Mr Jimmy Warnock - Watchknowe - asked if there was an explanation on reduced legal fees. The CE said there had been fewer reasons to contact the Society solicitors.

Mr Warnock asked if there was an update available on how wool testing at the 2013 National sales went.

NT replied whilst the sampling at the sales had gone very well, with members appreciating the need and reasons for the procedure. They were awaiting further conclusions from the laboratory. He was aware there had been a change in staff and technicians during the last few years, the period the Society had not submitted samples. As such, the Society was investigating further to ensure consistency. He and the CE and a colleague would be attending a meeting at the BLC headquarters for discussions.

Mr Warnock added - There were two weaknesses within the Texel breed, mastitis and throat condition, were the Society any nearer to providing advice on new gene tests or solutions. NT said they were introducing the genetic testing for parentage and hoped that a recessive gene test could be included.

He added there was value in this, the aim is to build a general DNA database that we may be able to use to identify genetic conditions. Although further understanding of the gene makeup of our breed would be useful, it may in fact take decades, not weeks to find solutions for conditions such as mastitis and throat conditions.

The CE added it is the Holy Grail, DNA extraction and developing useful SNP panels for a variety of diseases, so breeders can breed for resistance to diseases or use to select for animals that carry valuable traits, adding that many diseases are influenced by management and a variety of genes at play, rather than single genes. Perhaps new vaccines would be more applicable for managing mastitis, as they were starting to be available for cattle. The Society will be keeping up to date with the latest research on this topic.

x

Bridget Booker - Banc Olive - Mrs Booker suggested a limit should be set on ET lambs sold at National Sales. She, and many others, didn’t want to buy ET lambs. NT said currently there were no plans to introduce limits, adding that there were plenty of non ET lambs still available. In general, parentage testing, and using DNA profiling had been introduced to ET donors and first season sires in 2013.

However the general answer as we stand right now is that there are not any plans to restrict the use of ET, although the Board would continue to carefully monitor it’s use and influence.

Mrs Booker said the Society currently limits the amount of sheep entered at sales, so why not the amount of ET lambs entered. NT replied that the cut backs were based on the numbers of entries, not the type entries; some would consider limiting ET /AI to be draconian, the Society has always tried not to dictate what a breeder can do with his or her flock and especially limit the use of modern technologies, allowing for market forces to influence trade, rather than rules that could not be followed or policed affordably. This has been a complement to get the breed and the Society into the envied position it holds today. He asked Mrs Booker if she was happy with his response to which she replied no not really.

Adrian Windsor - Fern - Mr Windsor asked if there were any restrictions on shearling ewes or ewe lambs being ET’d. Mr Windsor added that young females are not proven. To allow ET on them is to encourage the development of traits that may not be useful or functional. Ease of lambing for example.

NT added there were no restrictions planned for use of ET. Jimmy Warnock - Watchknowe - Mr Warnock commented that it was great to see the image on the large Texel poster in the hotel reception, a back end view! Those attending the AGM agreed and applauded. Mr Warnock said he was delighted to see it.

Mr Warnock asked for information about the 40th Anniversary programme. The CE explained additional information on the forthcoming overseas trips, the NSA Sheep event 2014 at Malvern, and the Societies attendance at various events. He advised a fuller programme would be circulated to the Membership at the end of November.

NT asked for any further comments None forthcoming NT thanked all for attending and wished them a continued enjoyable weekend and declared the meeting closed at 4.45pm

oOo

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THE BRITISH TEXEL SHEEP SOCIETY LIMITED

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REGISTERED COMPANY NUMBER: SC055423 (Scotland) REGISTERED CHARITY NUMBER: SC007271

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS for the year ended 31 March 2014 FOR THE BRITISH TEXEL SHEEP SOCIETY LIMITED (A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL)

xiii

THE BRITISH TEXEL SHEEP SOCIETY LIMITED CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2014

Page Report of the Trustees

1 to 5

Report of the Independent Auditors

6 to 7

Statement of Financial Activities

8

Balance Sheet

9 to 10

Notes to the Financial Statements

11 to 15

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1 THE BRITISH TEXEL SHEEP SOCIETY LIMITED REPORT OF THE TRUSTEES for the year ended 31 March 2014 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 March 2014.

The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in March 2005 REFERENCE AND ADMINISTRATIVE DETAILS Charity name: The British Texel Sheep Society Charity known as:

Texel Sheep Society

Charity registration number:

SC007271

Company registration number:

SC55423 (Scotland)

Registered office:

The Mechanics Workshop New Lanark Lanark South Lanarkshire ML11 9DB

Operational address:

National Agricultural Centre Stoneleigh Park Kenilworth Warwickshire CV8 2LG

Trustees B H Gamble - Chairman D J McKerrow – Vice Chairman G Knox – Hon Treasurer J Aiken A P W Andrews A Barr R Campbell R Cartledge A Clark J Davies T R Healy R Hughes I P Jones T M MacTaggart A Phillips S Richardson P Sutton N C W Tavernor

- appointed 2.11.13 - appointed 2.11.13 - appointed 2.11.13 - resigned 2.11.13 - resigned 2.11.13 - resigned 2.11.13 - appointed 2.11.13 - deceased 16.4.13 - resigned 2.11.13

Company Secretary J A Yates

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2 THE BRITISH TEXEL SHEEP SOCIETY LIMITED REPORT OF THE TRUSTEES for the year ended 31 March 2014 Auditors Dafferns LLP Chartered Accountants Statutory Auditor One Eastwood Harry Weston Road Binley Business Park Coventry CV3 2UB STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Society is a registered Charity No: SC007271. Annual Reports and accounts are submitted to the Office of the Scottish Charity Commissioners following formal approval by the membership at the Annual General Meeting. The Society is a Company limited by guarantee and not having a Share Capital, incorporated on the 10 April 1974. The Society is governed by its Memorandum and Articles of Association (Company No: SC055423), which includes wide investment powers. For the purposes of the Companies Act 2006 members of the Board are treated as directors for which services they receive no remuneration.

A full copy of the Society's Memorandum & Articles of Association is available to all members from the Company Secretary at the Society's Administrative Office.

Organisational structure The Board of Trustees administers the Charity. The Board meets on a regular basis. Within the Board, trustees are nominated to represent specific areas covering Breed Development, Shows, Sales and Promotions, Finance & Remuneration and Compliance & Governance. A Chief Executive is appointed by the Board of Trustees to manage the day-to-day operations of the charity. To facilitate effective operations and accountability the Chief Executive has delegated authority, within terms of delegation approved by the trustees, for operational and strategic matters including finance and employment.

Recruitment and appointment of new trustees The Articles of Association allows for the appointment of twenty trustees (Directors), with effect from October 2011, directors are eligible to serve for a period of four years and if successfully reelected to a maximum of 12 consecutive years before having to step down for a minimum of four years prior to further re-election. The Board resolved to reduce their number to thirteen, each of which is elected by members on a regional basis. The Trustees also have the power to co-opt further members to the Board to fill specialist roles, always provided that the total Board size does not exceed twenty members. All members within the region of the retiring trustees are circulated with invitations to nominate trustees prior to the AGM. With effect from January 2007, all new Trustees undergo an orientation and training day to brief them on their legal obligations under charity and company law, the content of the Memorandum & Articles of Association, the committee and decision making process, the business plan and recent financial performance of the charity.

Employee involvement The Society has a well-established structure to communicate with employees at every level and to encourage their involvement regarding the company's performance and future development.

Risk Management The trustees continually examine the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that necessary recommendations can be made to lessen these risks. The trustees also consider non-financial risk arising from fire, and the health and safety aspects of the employment of its staff. A key element in the management of financial risk is the setting of a reserves policy.

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3 THE BRITISH TEXEL SHEEP SOCIETY LIMITED REPORT OF THE TRUSTEES for the year ended 31 March 2014 OBJECTIVES AND ACTIVITIES The principal activity of the Society in the year under review was that of encouraging, promoting and improving the breeding of Texel sheep in the United Kingdom of Great Britain and Northern Ireland. The Society assists its members in the maintenance and promotion of the breed and its influence for the advancement of the arts, heritage, culture and science. The Society consistently and regularly reviews and improves where appropriate the level of services offered to its members.

Specific advancement has been achieved in respect of promotional activities and with on-line services ensuring effective operation of the Society on behalf of its members.

ACHIEVEMENTS AND PERFORMANCE The Society is a leading and respected organisation within the livestock sector. Financial resources are used to maintain valued member services and their high profile within Industry. The Board regularly reviews its operation and identifies feasible acceptable and suitable new initiatives adding value to the organisation to assist in achieving its charitable objectives Continued careful financial management has allowed for further investment into breed promotion, youth development programme and breed development initiatives. The latter through collaboration with research institutes and through direct assistance to members in the form of subsidies for genetic improvement tools. These would otherwise be unaffordable and remain unexploited for the individual flocks to the detriment of the breeds own development.

The severe climatic conditions experienced between the summer of 2012 through to the summer of 2013 lowered productivity of members flocks creating financial difficulty for many members. The increased disease and parasite challenge, also severely affected the National flock. Incoming resources declined during the period from £581,608 to £572,908, registrations income reducing by some £38,856, with birth notifications and female registrations mainly affected. Transfers and Male registrations remained consistent with previous year’s income. BASCO administration support during the year of £7,500 and £21,578 of income derived from the DNA service bolstered incoming resources during the period. DNA testing was launched in 2013, both as a measure to provide parentage verification and to initiate a longer term genomic plan.

Encouragingly income from Subscription membership increased from £95,000 to £99,254, providing a pattern of growth in membership, and offers assurance that sheep breeders have confidence in the Pedigree Society service. Total Incoming Resources have reduced by 1.5% in the year to end £572,908. Income from registrations services are estimated to return to a more normal trend during the period 2014/15. Inflation based fee increases have been avoided during the period and will be kept under review.

Resources expended have increased from £503,055 to £535,231, providing an increase of 6% when compared to the previous year. Expenditure for DNA services accounted for £18,973 or 3.5% of the rise in total costs. These costs were negated with direct income derived. Postage, Stationery and Office costs rose by £10,461.The Society continues to invest successfully in the use of digital media. It also provides high quality hard copy promotional material for its membership.

Travel and meeting costs increased during the period by £10,555, following the creation of new committees, such as the Youth Development Committee and by supporting committees and office bearer responsibilities.

Net incoming resources of £37,677, prior to any gains on investments were provided to the Society reserves, 6.58% of incoming resources and in line with forecast for the period. Gains on investments continue to perform satisfactorily creating £15,548 of value towards reserves. Total net movement in funds for the period were £53,225.

Total funds carried forward total £913,334

3

4 THE BRITISH TEXEL SHEEP SOCIETY LIMITED REPORT OF THE TRUSTEES for the year ended 31 March 2014 Reserves policy It is the policy of the Society to maintain unrestricted, undesignated funds, which are free reserves of the Society of approximately eighteen months of unrestricted expenditure. This is intended to provide sufficient funds to cover management, administration and promotional costs. Free unrestricted, undesignated reserves at 31 March 2014 stood at £663,334 compared with unrestricted expenditure in the year of £535,231.

Principal funding sources Aside from interest received and member subscriptions, the principal funding sources are fees received for pedigree services consisting of the processing of birth notifications, registrations and transfers of Texel sheep, commission generated from sales, income derived from service provision to sale organisers for cataloguing services and advertising revenue Investment policy The Board of Directors considered the most appropriate policy for investing funds during the period to be the use of managed Share Portfolio accounts for long term investment opportunity as well as short term cash held within the Direct Reserve Account.

FUTURE DEVELOPMENTS A core role that the Society invests heavily in is promotion and encouragement of the breeding of Texel sheep within the UK sheep industry. Texel is now the breed with the biggest influence and has achieved this highly respected status as reported in the 2013 Breed Survey, carried out by Eblex and HCC. The breed is also proving an important role in the advancement of the rural communities, arts, heritage, culture and Science within those communities. th

As a progressive organisation, now in its 40 year, has a reputation for leading the industry by implementing novel breed development tools. The recent creation of the Societies DNA bank and development of pedigree DNA Snp profiles has been extremely well received by its membership.

Assisting members to protect their own investment in pedigree is crucial for continued success of the Society. Helping breeders maintain a competitive advantage, by supporting the use of proven and emerging scientific measures to create sheep with superior breeding and enable commercial producers to improve flock productivity is essential.

Links with other industry bodies will be further encouraged to achieve the Society's charitable, strategic and business objectives. The Society will continue to undertake research and disseminate the results to members and the wider industry as appropriate. Their investment in promotion of recording of the key commercial traits has proven important for the breed’s performance, with the genetic gain in the breed doubling in the last 5 years, further focus on this service will be important.

The Texel breed now represents 29% of all rams used in the UK and 40% of all performance recorded lambs. 25% of all lambs fully recorded and ultrasound measured in the UK are Texel. The Society will also develop research partnerships to assist in the improvement of the health and welfare traits of the breed, to further enhance the breed’s robustness and its appeal to commercial producers.

Through partnership and investment in BASCO Data Ltd the Society will develop and improve its online interface to their database. Assisting members to conveniently provide accurate information and provide a useful and valuable resource to support breed development research activity.

The Society will invest in the next generation providing financial support, sound governance and structure for young ambassadors within the breed. The Youth Programme provides opportunities for the elected individuals to gain experience in decision making, accountability and responsibility, at a high level and provides innovation into the Society Committee structure.

An important aspect of support for the membership is the provision of shows and sales. The Society will maintain attention to ensure members have suitable venues and events to serve the membership responsibly.

4

5 THE BRITISH TEXEL SHEEP SOCIETY LIMITED REPORT OF THE TRUSTEES for the year ended 31 March 2014 FUTURE DEVELOPMENTS (continued) The Society has a prudent and professional approach to administration and business management.

This will be maintained to ensure the Society develops and maintains a viable business platform that will serve the needs of the organisation both now and in the long term.

STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees (who are also the directors of The British Texel Sheep Society Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company 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 principals in the Charity SORP; make judgements and estimates that are reasonable and prudent; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company 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 charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the trustees are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the charitable company’s auditors are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any audit information and to establish that the charitable company’s auditors are aware of that information.

AUDITORS The auditors, Dafferns LLP, will be proposed for re-appointment at the forthcoming annual general meeting.

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

ON BEHALF OF THE BOARD:

B H Gamble - Chairman - Trustee

31 July 2014

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6 INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE BRITISH TEXEL SHEEP SOCIETY LIMITED We have audited the financial statements of The British Texel Sheep Society Limited for the year ended 31 March 2014 on pages 8 to 15. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard for Smaller Entities (effective April 2008) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).

This report is made exclusively to the charitable company’s trustees, as a body, in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended). Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of trustees and auditor As explained more fully in the Trustees’ Responsibilities Statement on page 4, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

The trustees have elected for the financial statements to be audited in accordance with the Charities and Trustee Investment (Scotland) Act 2005 rather than also with the Companies Act 2006. Accordingly, we have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report to you in accordance with that Act. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s Ethical Standards for Auditors.

Scope of the audit of the financial statements An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the charitable company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Report of the Trustees to identify material inconsistencies with the audited financial statements. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Opinion on financial statements In our opinion the financial statements: •

give a true and fair view of the state of the charitable company’s affairs as at 31 March 2014, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

•

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (applicable to smaller entities); and

•

have been prepared in accordance with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

6

7 INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE BRITISH TEXEL SHEEP SOCIETY LIMITED Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion: •

the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or

•

the charitable company has not kept proper and adequate accounting records; or

•

the financial statements are not in agreement with the accounting records and returns; or

•

we have not received all the information and explanations we require for our audit.

Dafferns LLP Chartered Accountants Statutory Auditor Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 One Eastwood Harry Weston Road Binley Business Park Coventry CV3 2UB 18 August2014

7

8 THE BRITISH TEXEL SHEEP SOCIETY LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 March 2014 Note INCOMING RESOURCES Voluntary income Subscriptions Gift aid Activities to generate funds Publications Auctions BASCO data Testing BASCO software Sundry income Investment income and interest received Charitable activities Registrations DNA profiling Total incoming resources

Unrestricted funds 2014 2013 £ £

99,254 15,624

95,000 15,823

17,867 95,907 350 7,500 4,191 12,604

22,625 96,594 350 6,445 7,882

298,033 21,578 572,908

336,889 581,608

30,276 64,316 2,616 22,279 27,995 69,954 38,575 18,973

34,104 61,595 4,708 22,279 21,463 77,995 33,505 -

153,517 7,135 39,270 2,919 17,124 1,534 1,809 2,669 15,090

149,117 6,116 33,879 2,919 17,335 613 4,039 2,302 15,110

4,700 14,480 535,231

4,500 11,476 503,055

37,677

78,553

Gains on investments

15,548

25,241

Net movement in funds

53,225

103,794

Total funds brought forward

860,109

756,315

TOTAL FUNDS CARRIED FORWARD

913,334

860,109

RESOURCES EXPENDED Charitable activities Publications Sales and shows Merchandise BASCO costs Travel Publicity Postage and stationery DNA profiling costs Support costs Salaries, social security and pensions Travel and subsistence Office costs Leasing Legal and professional Investment managers costs Other costs Bank charges Depreciation Governance costs Audit and accountancy Meetings Total resources expended

NET INCOMING RESOURSES

2.

The notes on pages 11 to 15 form an integral part of these financial statements

8

9 THE BRITISH TEXEL SHEEP SOCIETY LIMITED BALANCE SHEET At 31 March 2014 Note

2014 £

FIXED ASSETS Tangible assets Investments CURRENT ASSETS Stocks Debtors Cash at bank and in hand CREDITORS Amounts falling due within one year

8

£

42,523 433,986 476,509

5 6

7

2013 £

£ 44,073 414,107 458,180

8,713 161,007 403,288 573,008

5,407 148,716 353,338 507,461

136,183

105,532

NET CURRENT ASSETS

436,825

401,929

NET ASSETS

913,334

860,109

FUNDS 10 Unrestricted funds: General fund Designated fund - BASCO Designated fund - Breed development

663,334 150,000 100,000

610,109 150,000 100,000

TOTAL FUNDS

913,334

860,109

9

10 THE BRITISH TEXEL SHEEP SOCIETY LIMITED BALANCE SHEET - CONTINUED At 31 March 2014 The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

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 special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Trustees on 31 July 2014 and were signed on its behalf by

B H Gamble - Chairman - Trustee The notes on pages 11 to 15 form an integral part of these financial statements.

10

11 THE BRITISH TEXEL SHEEP SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2014 1. ACCOUNTING POLICIES Accounting convention The financial statements have been prepared under the historical cost convention, as modified for the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

Incoming resources All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. Gross income is stated net of value added tax.

The subscription year runs to 30 September. Subscription income is accounted for on an accruals basis, with six months’ income deferred at the accounting year end.

Resources expended Expenditure is accounted for on an accruals basis. The Society has taken advantage of the small charity exemption not to apportion costs between activities.

Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Long leasehold BASCO database Show equipment Office equipment

5% straight line 33% and 10% straight line 33% straight line 33% straight line

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

Investments Investments are stated in the balance sheet at market value in accordance with the SORP. Movements in market value are shown on the statement of financial activities.

Operating leases Rentals paid under operating leases are charged to the Statement of Financial Activities as incurred.

Pension costs and other post-retirement benefits The charitable company operates 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.

Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. All the Society’s funds are unrestricted.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

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12 THE BRITISH TEXEL SHEEP SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 March 2014 2. NET INCOMING RESOURSES

This is stated after charging / (crediting) the following: Depreciation – owned assets Operating lease costs Auditors’ remuneration

2014 £

2013 £

15,090 6,961 4,700

15,110 6,961 4,500

3. TRUSTEE REMUNERATION AND BENEFITS There were no trustees’ remuneration or other benefits for the year ended 31 March 2014, nor for the year ended 31 March 2013.

Trustees’ expenses Reimbursed expenses

15,618

12,726

6 1 7

6 1 7

137,183 12,686 3,648 153,517

133,447 12,022 3,648 149,117

1

1

4. STAFF NUMBERS AND COSTS The average weekly number of persons employed by the Society during the year was: Administration Chief executive Staff costs were: Salaries Social security costs Other pension costs Number of employees with emoluments over £60,000: £60,001 - £70,000 5. TANGIBLE FIXED ASSETS Long leasehold £

12

BASCO database £

Show equipment

Office equipment £

Total £

COST At 1 April 2013 Additions

160,393 -

7,200 -

40,894 7,358

65,363 6,182

273,850 13,540

At 31 March 2014

160,393

7,200

48,252

71,545

287,390

DEPRECIATION At 1 April 2013 Charge for year

125,594 7,637

5,760 720

38,862 3,297

59,561 3,436

229,777 15,090

At 31 March 2014

133,231

6,480

42,159

62,997

244,867

NET BOOK VALUE At 31 March 2014

27,162

720

6,093

8,548

42,523

At 31 March 2013

34,799

1,440

2,032

5,802

44,073

13 THE BRITISH TEXEL SHEEP SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 March 2014 6. FIXED ASSET INVESTMENTS MARKET VALUE At 1 April.2013 Purchases at cost Sales proceeds Revaluations

Listed investments £ 334,107 5,865 (1,534) 15,548

Unlisted investments £ 80,000 -

Total £ 414,107 5,865 (1,534) 15,548

At 31 March.2014

353,986

80,000

433,986

Listed investments

Cost

Valuation

£

£

At 31 March 2014 At 31 March 2013

299,952 295,621

353,986 334,107

Listed investments comprise the following:

2014 £

2013 £

NFU Mutual balanced portfolio fund Skandia multifunds investments portfolio Farmers first

241,637 112,049 300

230,094 103,713 300

353,986

334,107

There were no investment assets outside the UK. The company’s investments at the balance sheet date in the share capital of companies include the following: BASCO Data Limited Country of incorporation: England and Wales Nature of business: Development of Livestock Systems % Class of shares: holding Ordinary 33

Aggregate capital and reserves Profit / (Loss) for the year

2014 £ 196,101 (27,643)

2013 £ 223,745 19,404

The investment in BASCO Data Limited, at a cost of £80,000, and the loan owed by BASCO Data Limited of £70,000 are matched by the designated BASCO fund in reserves CST Recorded Ram Marketing Group Limited Country of incorporation: England and Wales Nature of business: Promoting research work into improving sheep breeding and the marketing of sheep products. % Class of shares: holding Limited by guarantee 30 Details of the reserves and profit of CST Recorded Ram Marketing Limited are not disclosed as It is a company limited by guarantee and as such, the company has no interest in the net assets.

13

14 THE BRITISH TEXEL SHEEP SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 March 2014 Sundry listed investment The company holds a small listed investment of 300 ordinary 50p shares in Farmers First plc.

This company is incorporated in the United Kingdom and registered in England and Wales. Its principal activity is to give assistance to UK livestock producers. The market value of these shares at the year-end is not materially different to the cost of £300.

7. DEBTORS

Amounts falling due within one year: Trade debtors Value added tax Other debtors Other debtors – BASCO Data Limited loan Gift aid Prepayments

Amounts falling due after more than one year: Other debtors – BASCO Data Limited loan Aggregate amounts

2014 £

2013 £

38,622 6,496 3,001 70,000 15,606 27,282

46,554 2,850 15,824 13,488

161,007

78,716

-

70,000

161,007

148,716

The loan to BASCO Data Limited of £70,000 is scheduled to be repaid on 31 March 2015.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Value added tax Other creditors Deferred income - subscriptions Accruals

67,149 6,863 50 46,150 15,971

18,498 5,590 3,150 2,155 45,000 31,139

136,183

105,532

9. OPERATING LEASE COMMITMENTS The following operating lease payments are committed to be paid within one year: Expiring: Within one year Between one and five years In more than five years

14

2,919 4,042

2,919 4,042

6,961

6,961

15 THE BRITISH TEXEL SHEEP SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 March 2014 10. MOVEMENT IN FUNDS

At 1.4.2013 £

Net movement in funds £

Transfers £

At 31.3.2014 £

Unrestricted funds General fund Designated fund - BASCO Designated fund - Breed development

610,109 150,000 100,000

53,225 -

-

663,334 150,000 100,000

TOTAL FUNDS

860,109

53,225

-

913,334

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

Resources expended £

Gains and losses £

Movement in funds £

Unrestricted funds General fund

572,908

(535,231)

15,548

53,225

TOTAL FUNDS

572,908

(535,231)

15,548

53,225

11. PURPOSE OF FUNDS The BASCO fund of £150,000 is an unrestricted designated fund, created by the Trustees, which mirrors the investment in and the loan to BASCO Data Limited, This fund would be used to absorb any write down of the investment or loan, should the need arise.

A core role of the Society is the development of the breed. To assist this objective, the Board has provided a designated and unrestricted fund for the purpose of supporting feasible, suitable and acceptable initiatives to support breed development.

12. RELATED PARTY TRANSACTIONS The Society holds an investment of 33% of the issued ordinary share capital of BASCO Data Limited At 31 March 2014 BASCO Data Limited owed the Society the following: £ Loan Trade debtor

70,000 223

During the year the Society received from BASCO Data Limited: Sale of administration services Interest on loan

7,686 350

And the Society paid to BASCO Data Limited: Transaction and Texel specific enhancement charges

22,279

There were no other material related party transactions during the year.

15

THE BRITISH TEXEL SHEEP SOCIETY LIMITED

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THE BRITISH TEXEL SHEEP SOCIETY LIMITED

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THE BRITISH TEXEL SHEEP SOCIETY LIMITED

2014 PROXY VOTING FORM

I / We ……………………………………………………………………………………. being member(s) of The British Texel Sheep Society Limited (with Flock Code…………………) hereby appoint ……………………………………………………………………. and failing him, the Chairman as my / our proxy to vote for me / us at the Meeting of the Society to be held at 4.00pm on Saturday November 8th 2014 in the Tilston Suite, Carden Park Hotel, Chester, CH3 9DQ, and at every adjournment thereof such proxy to vote for or against the resolutions set out below as indicated in this form or proxy.

RESOLUTION: To Approve Minutes of 40th AGM held on 02/11/2013 held at the Vale Resort, Hensol, CF72 8JY For …………………….. Against ……………………..

RESOLUTION: To Receive and adopt the statement of accounts & balance sheet for the Society year ending 31/03/14 For …………………….. Against ……………………..

RESOLUTION: To Re-appoint Dafferns LLP as auditors of the Society & to authorise Texel Board of Directors and to fix their remuneration For …………………….. Against ……………………..

Signed Member ………………………………………………………….…

Date …………………………………………………………………..

If a member does not indicate how he wishes his proxy to vote the proxy will be free to vote or abstain as he thinks fit

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THE BRITISH TEXEL SHEEP SOCIETY LIMITED

PROXY VOTING FORM NOTE OF GUIDANCE

1.

No member other than a member duly registered, who shall have paid every subscription and other sum (if any) which shall be due and payable to the Society in respect of his Membership, shall be entitled to vote on any question either personally or by proxy, or as proxy for another member, at any General Meeting. (Under Article 27).

2.

A member entitled to attend and vote at the above meeting is entitled to appoint a proxy to attend and vote on his behalf. A proxy must be a fully paid up member of the Society. To be effective forms of proxy must be duly completed and returned so as to reach the Society at the National Agricultural Centre, Stoneleigh Park, Kenilworth, Warwickshire CV8 2LG or at the registered office The Mechanics Workshop, New Lanark, Lanark, Scotland, ML11 9DB not less than 48 hours before the time appointed for holding the meeting. (Under Article 28 votes may be given on a poll either personally or by proxy).

TO BE RETURNED TO – THE TEXEL SHEEP SOCIETY NATIONAL AGRICULTURAL CENTRE STONELEIGH PARK KENILWORTH WARWICKSHIRE CV8 2LG NO LATER THAN 48 HOURS PRIOR TO THE ANNUAL GENERAL MEETING

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AGM 2013

THE VENUE FOR THE AGM WEEKEND 2015 IS YET TO BE CONFIRMED

www.texel.co.uk

British Texel Sheep Society Ltd Company Secretary and Chief Executive: Mr John Yates Registered Office: The Mechanics Workshop, New Lanark, Lanark, ML11 9DB Auditors: Dafferns LLP, Chartered Accountants, Registered Auditors, Warwick House, 32 Clarendon Street, Leamington Spa, CV32 4PG Solicitors: Wright Hassall LLP, Olympus Avenue, Leamington Spa, Warwickshire, CV34 6BF Bankers: RBS, The Royal Bank of Scotland, Coventry Branch, 15 Little Park Street, Coventry, CV1 2RN

National Agricultural Centre Stoneleigh Park, Kenilworth, Warwickshire, CV8 2LG Tel: 02476 696 629 Fax: 02476 696 472 Email: office@texel.co.uk