Cumann Luct Capaillini Chonamara 2 Connemara Pony Breeders’ Society ‘The Showgrounds, Clifden Co. Galway ‘Te. #353 (0)95 21863. Fax. $383 (095 21005, e-mail enquiries eps ie 8/5/15 RE: CPBS Council Meeting A meeting of the Council of the CPBS will be held on Monday 18" May 2015 in the Westwood House Hotel, Newcastle, Galway at Spm. You are hereby invited to attend. Agenda Adoption of Minutes Matters Arising from Minutes f Sub-Committee Reports Approval of accounts for year ended 31/12/14 Membership Correspondence President’s Addres Report on special meeting held on 10/5/15 and next steps . Class two ponies at Clifden 10, Debtors 11. AOB. PRA AWALNE ‘Yours sincerely Miawh Philbin Niamh Philbin Secretary Directors: Tom MacLochlainn(President), Jim Mullany (Vice President), John Varley (Vice-President), Padraic Hea (Treasurer), John Riordan (Hon. Secretary), Jane Andrews, Kevin Bolger, Nodl Bret, Ciaran Curran, GearGid Cu Padraic Hynes, Mr. Mosse Joyce, Patrick Keaney, Michael Laffey, Jerry Mahon, Keith Murry, Andy O'Don Pierce O'Malley, Dermot Power, Frank Quinn A Limited by Guarantee and not having share capital, Registered Office Ciden, Co. Galway (Chy No: 5864 Relstered in Dublin, Ireland No: 17849Connemara Pony Breeders’ Society Council Meeting Minutes 13/4/15 Venue: Dartfield Horse Museum, Loughrea, Co, Galway @ 7.30pm Attendance: Mr. Tom MacLochlainn (President), Mr. Jim Mullaney (Vice-President), Mr. John Varley (Vice-President), Mr. Padraic Heanue (Treasurer), Mr. John Riordan (Hon. Secretary), Mr. Kevin Bolger, Mr. Noel Brett, Mr. Ciaran Curran, Mr. Geardid Curran, Mr. Patrick Keaney, Mr. Michael Laffey, Mr. Jerry Mahon, Mr. Keith Murray, Mr. Andy O’Donoghue, Mr. ierce O'Malley, Mr. Dermot Power, Mr. Frank Quinn. Also in Attendance: Ms. Niamh Philbin (Secretary), Dr. Jack Murphy ‘Apologies: Ms. Jane Andrews, Mr. Mossie Joyce, Mr. Padraic Hynes Order of Business ‘The President opened the meeting and informed the Council that the meeting is being recorded. He said the reason for the meeting being held in Dartfield is to accommodate Dr. Murphy who is working on another project and as he is travelling back to Wexford he felt it would be fair to have the meeting at 7.30pm. Mr. Mactochlainn said Minister Michael Ring is attending a meeting at Dartfield and may come in to meet the Council. Adoption of Minutes Mr. O/Malley proposed and Mr. Mullaney seconded the adoption of minutes. Matters Arising from Minutes The President said Carol O'Connor is being replaced by Norah Canavan while on maternity leave. ‘Mr. Maclochlainn said the job specification or the database is almost complete and once complete it will go for tender. Mr. Power said Aldolex gave a specification that didn’t cost anything. The President said this specification wasn’t completely suited to the CPBS and that the office had a lot of input into the current specification. Mr. Heanue said Aldolex can tender for it. Mr. 0’Donoghue asked that the specification be sent out to the Council.The Secretary said she contacted Ms. Jane Andrews as requested and Ms. Andrews confirmed in writing that she is resident in Ireland. Mr. Laffey said she lives in Ireland and the UK and when a man on the Council lived in Canada and another one in America there wasn’t a word about it. Mr. Power said he was elected to the Council i December 1978 in accordance with the Memorandum and Articles, in February 1998 he resigned for three years, in November 2001 he was elected to the Council, in 2002 he was elected President, in 2008 he was re-elected to the Council Mr. Power said a letter went to his former colleagues and reflected on him within the Department ‘and there is another forum where this can be taken. He said no one else has got as much money for the Society as he has. Mr. Brett said there was no character assassination but he feels Mr. Power is exercising control. Mr. Riordan says he takes exception to this and said he never did anything unless it was the right thing to do and he won't be taken for a fool. Mr. Mullaney asked that Mr. Power and Mr. Brett both take a step back and look at the situation as it is going nowhere. Mr. Power said he wants an apology. Mr. Mullaney asked Mr. Brett to give an unconditional apology. Mr. MacLochlainn said either he or Mr. Mullaney will be in contact with Mr. Power and Mr. Brett in the next week to see if it can be resolved. Mr. O'Donoghue said Mr. C. Curran asked that the meetings be at 8pm. The President said he explained at the beginning of the meeting that there is a lot happening this evening and Dr. Murphy has to travel back to Wexford. Membership Applications Mr. Bolger proposed and Mr. Mullaney seconded the acceptance of the new membership applications (App. A. Dr. Jack Murphy ~ n Review ‘The President introduced Dr. Murphy to the meeting and said he is there to listen and encouraged council members to say anything they feel about inspections. Dr. Murphy addressed the meeting. He said hes here to help in any way he can and is looking at the classification system and stallion inspections. Dr. Murphy sald he looked at the Irish Draught Inspections, together with a committee of six people and produced a report on it. He asked the 2Council to take a look at it. Dr. Murphy asked the Council if they are satisfied with or dissatisfied with Classification and asked what one good thing that comes from it is. Mr. Mullaney said there is a better type of pony. Mr. Riordan said the only one who is satisfied with it is the one whose pony gets Class one. Dr. Muprhy said he understand a huge number of fillies get Class one. Mr. Power said Classification is part of the breed improvement programme and before classification was introduced colts has to be gelded if they did not pass at inspections. He added that the CPBS were told they d inspection her progeny couldn't get a book. He said classification is a disaster and it depends on could have as many classes as they wanted. Mr. Bolger said before classification if a mare which three people are judging and the studbook should be split in two as a pony could be a good jumper. Mr. Mullaney said the present system doesn’t consider performance and if a pony has a performance pedigree it should be taken into consideration. Dr. Murphy noted that the marking sheet has a type approach and asked if there were a heavier weight on jumping or on pedigree how would members react. Mr. Mullaney said a performance pony isn’t sultable sometimes and suggested that pedigrees be reviewed and performance lines identified and the chairman would make the inspectors aware if a pony has @ serious jumping pedigree and it would pass but have a distinction from other pahies. Dr. Murphy said he attended Mullingar Colt inspections and saw a pony attain high marks but measure 1Shh. Mr. Quinn said it depends who has him and he is the oldest breeder of Connemara ponies and Irish Draughts and Michael Donoghue from Goresbridge came to a HSI meeting and explained the loss ofthe traditional horse. He said HSI has it wiped out and he saw a great Irish Draught stallion turned own. Mr. Quinn said the Connemara pony used to be 12.2 ~ 13.2hh and was used for going to the creamery and the church. Dr. Murphy said this type of pony is no longer needed. Mr. Quinn said there was no recording of breeding, ponies got dearer, breeders adopted foals from Irish Draught and half bred mares and years ago a pony headcollar would fit a pony and now they need a cob size headcolla. He said the pony belongs to the people east of the Corrib because they are good riders and are rich and in the elite sale there was no pony from Connemara and he got £5100 for a gelding in Clifden and he bred cobs that won in the RDS. Or. Murphy asked him what his solution is. Mr. Quinn said no grading, all equal. Dr. Murphy asked if overheight ponies are common. Mr. Bolger. said ponies are measured at inspections and never again. Mr. Quinn said there are ads for Cass one ponies that are 1Shh. Mr. Mahon said an animal that is over 148ems is not 2 pony and in the UK Connemara ponies over 14gcms are not allowed to be exhibited but they are allowed in the Clifden show which is the 3premier show. Mr. Bolger said he has @ pony that was 148cms as two years old and is now 15.2hh. Mr. Quinn said have a class at the show for those that are overheight. Or. Murphy asked what happens to ponies that are overheight at inspections. Mr. Brett said there were originally four classes, with Class two being for overheight por ‘Mr. O'Donoghue told Mr. Murphy it was passed at Council but never implemented that if a pony jumped very well in Sil 1.10m competitions and passed the vet and measured 148cms or under he would go into Class two and if he was a top Jumping pony he with go into Class one with a star. Dr. Murphy asked is there any evidence to say a Class two pony can breed a Class one pony. Mr. O'Donoghue said for the first seven years once a ony was inspected it would go into Class one or two. Mr. Brett said there are two types of pony — the pony in Connemara is type and the pony in the Midlands is a performance pony but the marking, sheet is for type ponies and most of the Class two ponies are sports types. He added that there were 2 lot of disappointed people in Mullingar and there should be recognition for performance ponies. Dr. Murphy asked are these ponies coming forward for inspection. Mr. Quinn said there are no inspections for thoroughbreds and he has a Class two stallion he runs with twenty mares and his daughter got €600 per foal. Mr. Bolger said Sliver Shadow was turned down at his first inspection and there are now nine or ten Class one stallions out of him. Mr. O’Donoghue said a pony is only a performance pony if he can perform himself. Mr. Brett said this is the case if opportunity presents itself and gave the example of two full brothers. Mr. Riordan suggested inspecting stallions at five years old. Dr. Murphy asked what would happen if ponies were measured again at five or six years old. Mr. Riordan said height doesn’t make any difference if you know the pony you like and can sell and he never has to sell his at sales. He added most customers will want Class one mares but he has five Class two BEC’s that he breeds from. Mr. Power said in the past the inspection committee would sive points for pedigrees but they knew the mares. Mr. Keaney said inspections are not improving the breed and he brought out five colts that were tured down and one pony jumped out over the fence of the arena and was turned down for athletic ability. He added the Society should get right inspectors. Dr. Murphy asked how many inspectors are on the list. The President told him seventy approximately. Mr. Mullaney said every inspector is written to and asked if they are available. Mr. Power said up until four years ago there were junior judges and once they qualified they were added to the list. Dr. Murphy asked was the junior judges course successful. Mr. Bolger replied yes. Mr. Quinn replied no. Dr. Murphy asked how you become an inspector. Mr. Mullaney said the inspection committee meet and start at the top of the list of judges and vote on each name and a panel is selected and shortlisted from the names with the most votes.Mr. Quinn id you can bring a colt out now and then again in six months and get him passed and certain people want to keep it lke this to get colts into Clifden, he said his daughter was mad about @ dun colt and he said he would do him for Clifden and he was placed fifth out of thirty and after that Class twos weren't allowed in Clifden and he sold his colt for €8500 and three Class ones wouldn’t make up the price of him and he competed in HOYS. Dr. Murphy asked if there is any test the inspectors must go through. Mr. Power said there were training days for judges and linear scoring was looked at. Mr. Riordan said anyone can judge at shows and the only way it will improve is if shows take it on board for judges to have a microphone. Dr. Murphy asked would there be time for that. Mr. Riordan said yes. Mr. Power said in Denmark the judges have to hold up their marks. Dr. Murphy explained that linear scoring is only a tool and on the HSI sheet there are forty traits to be marked. Mr. Bolger said inspectors will look at a pony and then mark their sheet. Mr. Brett said ‘members have no say and they should pick the judges and inspectors. Dr. Murphy asked can Council members judge and inspect. The President replied yes. Mr. Riordan said there is a lack of integrity in judges. Dr. Murphy explained that linear scoring is only as good as the person using it. Mr. Riordan agreed and said itis all about education. Mr. O'Donoghue said he attended inspections in France and he asked the inspectors how many por passed and they didn’t know. Mr. Mahon told Dr. Murphy that colts are paraded in a group at inspections and if they are going to be assessed they shouldn't be doing a comparison. He explained that he doesn’t see the logic in it as judges are pre-judging. Mr. Mahon felt the criteria should be broken down in more detail and score ‘against the ideal. Dr. Murphy asked what the ideal is. Mr. Heanue said under a different chairman there were five inspectors who didn’t talk and then the highest and lowest marks were dropped but members were unhappy as only a handful passed. Mr. Bolger said there was @ huge difference between points. Dr. Murphy said you need to be satisfied inspectors are competent, He asked is the winner at Clifden show generally accepted. Mr. Riordan said no and he fs from the East and there is @ lot of history and jealousy associated with the show. He told the meeting he would be the first to agree that people in Connemara breed good ponies. Dr. Murphy asked is it generally accepted that the best pony wins. Mr. Power said when there was only one judge in the ring it was accepted. Mr. Riordan sald very few people put their name forward to judge that year. Mr. Power said in 1972 all the prizes went out the Galway road and three years ago the prizes didn’t go beyond Maam Cross. Mr. Heanue said the difference between a judge and an inspector is a show is only a day out. Dr. ‘Murphy asked is there an exam for inspectors. Mr. Mullaney said there is ongoing training. Mr. Laffey said last year he knew three weeks before the show who was going to win and he wanted to put the judges names in a hat but the Council wouldn’t and had to get Pat Wall to do it and he was 5asked yesterday if the judges were got yet. The President said the Council will know the names of the judges later in the meeting, Mr. Bolger suggested that if the CPBS are doing performance inspections they use two performance judges. Dr. Murphy asked if Class twos were allowed in Clifden what row would it cause, Mr. Bolger said let them be shown. Mr. Power said if breed improvement is working it should be the premier show. The Secretary said Class twos and threes are allowed compete on Wednesday and Friday but not on ‘Thursday and this has upset people in the past when they wish to compete in the ridden classes on Thursday and Friday. Mr. Bolger said most people in Connemara use mares for entitlements. [At this stage Minister Ring entered the room and addressed the meeting. He thanked the Leahy family for their hospitality and he thanked Professor Wall for his work and commitment. Minister Ring spoke of the importance of the Connemara pony for tourism in Ireland and offered his help to the CPBS. Professor Wall addressed the meeting and said 20115 is a special year as the CPBS celebrates fifty years of links with the Danish and Swedish Societies. Mr. Mac Lochl n said the Pony is the best ambassador for Ireland and over the last fifty years thousands of visitors from Denmark and Sweden have come to Ireland. The President thanked Mr. Leahy for hosting the ‘meeting and he thanked Prof. Wall and Minister Ring for addressing the meeting. Dr. Murphy said he is delighted the Council are engaging and asked what would happen if Class twos. were allowed in Clifden, who would complain and would anyone be against it. Mr. Quinn said you can’t discriminate and no one should be on the Council unless they own three mares. Dr. Murphy asked what would be the positives of allowing Class twos in Clifden, Mr. Bolger said the owners could market their ponies and a previous reserve champion was never passed at inspection. He said Class twos won’t be used by breeders. Mr. Riordan said this is a very important topic and suggested having an afternoon with Dr. Murphy to discuss it more. Mr. Quinn sai if you go to Clifden sales ponies are lacking blood and people want a quality pony with a step and his foals jump over nettles and thistles. He continued to say a colt in Mullingar was failed on performance and he was bred to Jump and was second in the loose jumping. Dr. Murphy asked if 94% of mares are getting Class one are they fantastic. Mr. Quinn said he put 14 ponies on an arctic in 1977. Mr. Power said the Society is at a crossroads with filly inspections and all mares can’t be swans and perhaps there is too much concentration on colt inspections. Dr. Murphy asked what the optimal number of foals is. Mr. Bolger said 800. Mr. Riordan said if there are 1500 quality foals there is no problem selling them but, breeders aren’t educated enough. Mr. Mullaney said people are being forced to breed by the 6Department. Dr. Murphy asked is there any judge on the judges list that the Council would have total consensus on. Mr. Riordan said no. Mr. Bolger said the same people are used every year and Council members are picking the judges and then showing. Mr. Brett said people want performance recognised as well as type. Mr. Laffey said two years ago the Council picked the judges out of a hat ‘and someone said one of the judges rang him and asked him what he would be wearing and three weeks before the inspections last year a person knew their horse wouldn't pass because he would block a horse from winning ‘The President thanked Dr. Murphy for attending the meetingDr. Murphy left the meeting, Mr. Power proposed that Mr. Hynes be given special resolution as he missed three consecutive ‘meetings. This was seconded by Mr. Heanue. Sub-Committee reports ‘Mr. Mahon informed the Council that the Memorandum and Articles committee is very near the final stages and had ten meetings since the formation of the committee. He said there was a huge amount of involvement and commitment. Mr. Power said the new companies act will come into force on the 1" of June. Mr. Mahon said the committee are mindful of the new companies act. The President said it was agreed to dedicate a full day to the proposed amendments. After some discussion it was agreed to hold a special meeting on the 10" of May. Mr. Bolger told the meeting that Judy Cazabon had been in contact him regarding the possibility of running High Performance training days over a space of twelve weeks in the showgrounds. The President asked that she submit the proposal in writing, It was agreed the office committee would look at the proposal. Correspondence The Secretary read an email from Ms. Catriona Goaley requesting permission to use the stables at the showgounds. Mr. Bolger proposed and Mr. Heanue seconded that permission be granted. Mr. ‘Mahon said indemnity will be needed. Mr. Riordan asked is the CPBS charging. Mr. G. Curran she may sponsor a class at the show. It was agreed that the office committee would discuss it further.‘The Secretary read an email from Mr. Alan Woods requesting a private inspection. She asked if this ‘would just be for Mr. Woods or if other people could attend and raised the question of insurance. It was agreed that the inspection committee would look at this. Mr. Brett said he understands an inspector was injured at the Autumn inspections and required hospital attention. Mr. Mullaney sé he attended a doctor. Mr. Brett asked was there a report filed. Mr. Varley said the inspector was happy for his medical bill to be covered and he has no issues. Mr. Power said he spoke to O'Leary Insurance and proposed getting professional indemnity insurance. This was seconded by Mr. Riordan. Mr. Mullaney said he was contacted by Mr. John Robinson regarding an overheight colt that was laser measured. The Council agreed that the colt could not be re-presented as the laser measurement is final. ‘An email sent by Mr. Michael Fitzgerald regarding the Scottish Derogation was discussed. Mr. Power said he would contact the Department in relation to this. ‘The President said Prof Wall wrote to him and named five Irish in-hand judges and five overseas judges and suggested six of these for Clifden but they are not allocated to Rings. He asked if the Council are happy to accept these names and said Prof. Wall will also need to pick a reserve judge. The Council agreed. It was agreed to allocate the judges to their rings on the morning of the show. Ms. Philbin read out the names selected by Prof. Wall: In-hand Judges Mr. Séan Stage Mr. Michael Casey Ms. Finola Nic an toms Mr. John Harte Mr. Philip Scott Mss. Madeleine Beckman (Sweden) Ridden Judge: Ms. Catherine Angel Ms. Nicola Musgrave Mr. Kieran GuinnessMr. Brett asked is it true the CPBS are donating a pony to the Queen. The President said no. Mr. Heanue said contrary to rumours the CPBS did not receive €107,000 from Horse Sport Ireland, Mr. Bolger asked if Class two ponies at Clifden show could be placed on the next agenda. It was agreed that as the next Council meeting would be on the 10” May that the monthly Council meeting would be postponed until Monday 18" May. This concluded the business of the meeting. , PresidentDRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:08 DATASET 31 December 2014 Registration number 17849 ‘Cumann Lucht Capaillini Chonamara (A. Company Limited by Guarantee and not having a Share Capital) Directors’ report and financial statements for the year ended 31 December 2014DRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:08 DATASET 31 December 2014 (Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) Contents Page Directors and other information 1-2 Directors’ report = 3 Statement of directors’ responsibilities : 4 Independent auditors report to the members 5-6 Income and expenditure account 7 Balance sheet 8 Cash flow statement i 9 ‘Notes to the financial statements 10-14 Including statement of accounting policiesDRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:08 DATASET 31 December 2014 ‘Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) Secretary Company number Registered office Auditors Bankers Solicitors Member details Directors and other information ‘Niamh Philbin 17849 ‘The Showgrounds Cliftien, Co.Galway Arkins Kenny & Co Unit 15 Galway Technology Park , Parkmore Galway Bank of Ireland Clifden Co. Galway William B Gavin & Co 4 Devon Place ‘The Cresent Galway Tom MacLochlainn (President) Jim Mullaney (Wice President) John Riordan (Secretary) Padraic Heanve (Treasurer) John Varley (Vice President) Jane Andrews Kevin Bolger Jerry Mahon Noel Breit Andrew O'Donoghue Ciaran Curran Piereo O'Malley Gearoid Curran Dermot Power Padraic Hynes Frank Quinn Page 1DRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:08 DATASET 31 December 2014 ‘Cumann Lueht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) Mossie Joyce Keith Murray Michael Laffay Patrick Keaney Charity number CHY 5864 Page2DRAFT FINANCIAL STATEMENTS 6 May 2015 14: :08 DATASET 31 December 2014 ‘Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) Directors’ report for the year ended 31 December 2014 ‘The directors present their report and the audited financial statements for the year ended 31 December 2014, Principal activities and review of the business ‘The principal activity of the company is engaging in maintaining the Stud Book of the Connemara Pony Breeders and also engaging in related activities. Results and dividends ‘The results for the year are set out on page 7. Direetors of the company ‘The present membership of the board is listed on the ‘Directors and othet information’ page Books of account ‘The measures taken by the directors to ensure compliance with the requirements of Section 202, Companies Act, 1990, regarding proper books of account are the implementation of necessary policies and procedures for recording transactions, the employment of competent accounting personnel with appropriate expertise and the provision of adequate resources to the financial function. The books of account of the company are maintained at the Registered Office. Auditors ‘The auditors, Arkins Kenny & Co, have indicated their willingness to continue in office in accordance with the provisions of Section 1602) of the Companies Act, 1963. This report was approved by the Board on. and signed on its behalf by Director Director Page3DRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:09 DATASET 31 December 2014 Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) ties for the members’ financial statements Statement of directors responsi The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable Irish law and generally aceepted accounting practice in Ireland including the accounting standards issued by the Financial Reporting Council and published by the Institute of Certified Public Accountants in Ireland. Irish Company law requires the directors to prepare financial statements for each financial year which give a ‘rue and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. The directors confirm that they have complied with the above requirements in preparing the financial statements. ‘The directors are responsible for keeping proper books of account which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements are prepared in accordance with accounting standards generally accepted in Ireland and with Irish statute comprising the Companies Acts, 1963 to 2013. They are also responsible for safeguarding the assets of the company and hence, for taking reasonable steps for the prevention and detection of fraud and other invegularities, (On behalf of the board Director Director Date: Page 4DRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:09 DATASET 31 December 2014 Independent auditor's report to the members of (A Company Limited by Guarantee and not having a Share Capital) We have audited the financial statements of Cumann Lucht Capellini Chonamara for the year ended 31 December 2014 which comprise the Income and Expenditure Account, the Balance Sheet, the Cash Flow ‘Statement and the related notes. The financial reporting framework that has been applied in their preparation is Irish law and accounting standards issued by the Financial Reporting Couneil and promulgated by the Institute of Certified Public Accountants in Ireland (Generally Accepted Accounting Practice in Ireland). This report is made solely to the company's members, as a body, in accordance with Section 193 of the ‘Companies Act, 1990. Our audit work has been undertaken so that we might state to the company’s members 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 company and the ‘company’s members as a body, for our audit wor, for this report, or for the opinions we have formed. Respective responsibilities of directors and auditors As explained more fully in the Directors’ Responsibilities Statement set out on page 4, the directors are responsible for the preparation of the financial statements giving a true and fair view. Our respor audit and express an opinion on the financial statements in accordance with Irish law and Intemational Standerés on Auditing (UK and Ireland). Those standards require us to comply with the Auciting 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 thatthe 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 ‘company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the oyerall presentation of the financial statements. In addition, we read all the financial and non-financial information in the annual report 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, in accordance with Generally Accepted Accounting Practice in Ireland of the state of the company’s affairs as at 31 December 2014 and of its profit for the year then ended; and ~ have been properly prepared in accordance with the requirements of the Companies Acts, 1963 to 2013. Matters on which we are required to report by the Companies Acts, 1963 to 2013. we have obtained all the information and explanations which we consider necessary for the purposes of our audit; ~ in our opinion proper books of account have been kept by the company; ~ the financial statements are in agreement with the books of aecount; ~ in our opinion the information given in the directors’ report is consistent with the financial statements. ‘Matters on which we are required to report by exception ‘We have nothing to report in respect of the provisions in the Companies Acts 1963 10 2012 which require us to report to you if, in our opinion, the disclosures of directors’ remuneration and transactions specified by law are not made. Unit 15, John Kenny Galway Technology Park PagesDRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:09 DATASET 31 December 2014 Independent auditor's report to the members of (A Company Limited by Guarantee and not having a Share Capital) : . continued for and on behalf of Parkmore Arkins Kenny & Co Galway Certified public accountants ‘This is certified a true copy. On behalf of the board Niamb Philbin Director ‘Company seeretary Page 6DRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:09 DATASET 31 December 2014 ‘Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) Income and expenditure account for the year ended 31 December 2014 Continuing operations 2014 2013 Notes € € ‘Turnover 2 389,570 448,724 Cost of sales (12,691) 2,912) Gross profit : 376,879 415,812 Administrative expenses (434,346) (609,008) Other operating income 131,622 128,765 Operating profit/(loss) 54,155 (64,431) Interest payable and similar charges G77) al) Profit on ordinary : activities before taxation 50,478 (65,172) ‘Tax on profit on ordinary activities : 36,328) Profit for the financial year 50,478 (101,500) ‘There are no recognised gains or losses other than the profit or loss for the above two financial years. On behalf of the board Director Director ‘The notes on pages 10 to 14 form an integral part of these financial statements. Page?DRAFT FINANCIAL STATEMENTS 6 May 2015 14: :09 DATASET 31 December 2014 ‘Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) Balance sheet as at 31 December 2014 2014 2013, Notes, e € € € Fined assets Tangible assets 5 483,396 494,120 Current assets Stocks 16,665 29,176 Debiors 6 14,325 . 29,530 Cash at bank and in hand 89,991 117192 120,981 175,898 Creditors: amounts falling due within one year 7 (91,695) (206,579) Net current liabilities 29,286 (30,681) Total assets less current abilities 512,682 463,439 Accruals and deferred income 8 (4230) 2,465) Net assets 511,452 460,974 Reserves Revenue reserves account 511,452 460,974 ‘Members' funds 9 511,452 460,974 ‘The financial statements were approved by the Board on, .-and signed on its behalf by ‘The notes on pages 10 to 14 form an integral part of these financial statements, Page 8DRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:09 DATASET 31 December 2014 Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) Reconeiliation of operating profit to net cash inflow from operati Operating profit Depreciation Decrease in stocks Decrease in debtors (Decrease) in creditors Government grant released Net cash inflow from operating activities Cash flow statement Net cash inflow from operating activities Capital expenditure Increase in cash in the year Reconciliation of net cash flow to movement in net funds (Note 11) Increase in cash in the year ‘Net cash inflow from issue of shares classed as financial Net funds at 1 January 2014 ‘Net funds at 31 December 2014 Cash flow statement for the year ended 31 December 2014 Notes Page 9 10 2014 30,478 11,594 12,511 15,205 (114,884) (1,235) (26,331) (26,331) (870) (27,201) 7201) 117,192 89,991 2013, (101,500) 11,484 14,529 6,300) 52,987 (4,235) (27,035)DRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:09 DATASET 31 December 2014 1 12. 13. 14, 1s. Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) Notes to the financial statements for the year ended 31 December 2014 Statement of accounting policies The following accounting policies have been applied consistently in dealing with items which are ‘considered material in relation to the company’s financial statements, Basis of preparation Income policy Income represents the total invoice value, excluding value added tax, of sales made during the year, ‘Tumover is recognised when the significant risks and rewards of ownership ofthe goods have passed to the buyer, usually on dispateh of the goods. ‘Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment loss, Cost includes all costs that are directly attributable to bringing the asset into working condition for its intended use. Depreciation Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost Jess ‘estimated residual value, of each asset systematically over its expected usefil life as followre Land and buildings - Straight Line over 50 years Leasehold properties + Straight line over the life of the lease Fixtures, fittings and equipment - 12.5% Straight Line Stock Stock is valued at he lower of cost‘and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all costs incurred in the normal course of busines bringing the product or service to its present location and condition. Ean materials, consumables and goods for resale are valued at purchase cost on a fistn, frstout basis. Taxation ‘The vearly charge for taxation is based on the profit forthe year and is ealeulated with reference to the ‘ax rates applying atthe balance sheet date. Page 10DRAFT FINANCIAL STATEMENTS 6 May 2015 14: 6. 09 DATASET 31 December 2014 Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) Notes to the financial statements for the year ended 31 December 2014 continued Government grants Grants are credited to deferred revenue. Grants towards capital expenditure arc released to the profit and loss account over the expected useful life of the assets, Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. Income The total income of the company for the year has been derived from its prineipal activity wholly undertaken in Ireland, 2014 2013 € € Class of business Income 388.240 447,914 Grants 131,622 128,765 519,862 376,679 Geographical market Ireland Employees ‘Number of employees ‘The average monthly numbers of employees 2014 2013 (including the directors) during the year were: Office Staff 3 4 Employment costs 2014 2013 e é ‘Wages and salaries 123,030 166,751 Social welfare costs 13,582 17,598 136612 184,349 ‘Transactions with directors ‘There were no related party transactions with the directors during the period. Page 11DRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:09 DATASET 31 December 2014 Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) Notes tothe financial statements for the year ended 31 December 2014 continued Tangible fixed assets Cost At I January 2014 Additions Disposals / Grants At31 December 2014 Depreciation At I Jenuary 2014 ‘Charge for the year At31 December 2014 Net book values At31 December 2014 At 31 December 2013 Debtors Trade debtors Evalon / Vat Refund Due Prepayments and accrued income Land and Short buildings leasehold freehold property € 329,596 870 (112,976) 217,490 50,860 55,302 162,188 165,760 Page 12 € 368,630 (67,867) 300,763 300,763, 300,763 Long € 21,109 17,422 422 17,844 3.265 3,687 Fixtures, leasehold fittings and property equipment € 120,310 (63,761) 56,549 32,639 6,730 39,369 17,180 23,910 2014 8,199 5,926 200 Total 839,645, 870 (244,604) 595,911 100,921 11,594 112,515 483,396 494,120 2013 10,709 2,678 16,143DRAFT FINANCIAL STATEMENTS 6 May 2015 14: (Cumann Lucht Capaillini Chonama: :10 DATASET 31 December 2614 (A Company Limited by Guarantee and not having a Share Capital) Notes to the financial statements for the year ended 31 December 2014 + continued 7. Creditors: amounts falling due within one year Other creditors ‘Trade creditors ‘Membership Fees Prepaid ‘Accruals and deferred income Taxation eredicors PAYE/PRSI VAT 8 Accruals and deferred income Government grants At January 2014 Released in year At31 December 2014 9. Reconciliation of movements in members' funds ‘Surplus for the year Opening members’ funds Closing members’ funds Page 13 2014 48,553 1,500 4,200 37,442 91,695 2014 € 2,465 (1,235) 1,230 2014 50,478 460,974 2013, 69,944 11,900 24,200 56,049 44,486 206,579 2013 3,700 (1,235) 2013 € (101,500) 362,474 460,974DRAFT FINANCIAL STATEMENTS 6 May 2015 14:07 0 DATASET 31 December 2014 Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) Notes to the financial statements for the year ended 31 December 2014 10, 11. 2 14, Gross cash flows 2014 2013 € € ‘Returns on investments and servicing of finance . Interest paid 6,677) (741) Capital expenditure Payments to acquire tangible assets (870) 60,154) Analysis of changes in net funds Opening Cash Closing balance flows balance € € € Cash at bank and in band 117,192 27,201) Net funds 117,192 7,201) Company limited by guarantee ‘The company is one limited by guarantee not having a share capital. The liability of each member, in the event of the company being wound up is €1.27. Accounting periods The current accounts are for a full year. The comparative accounts are for a full year. Approval of financial statements ‘The board of directors approved these financial statements for issue on. Page 14DRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:10 DATASET 31 December 2014 ‘Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) ‘The following pages do not form part of the statutory accounts. Page 15DRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:10 DATASET 31 December 2014 ‘Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) Detailed trading profit and loss account for the year ended 31 December 2014 2014 2013 € e e Members Subscriptions 90,035 Inspection Fees 40,536 Foal Registration 125,912 Ownership Transfer Fees 27,982 Europeans 1,720 Duplicate Pessports : 7.021 Prefixs * 1,000 Microchips 195 Performance Clinic Income 1,265 ‘Show Income 84,515 Stallion parade Income 24135 Shop Sales / Capeilini 5,294 ‘Therapeutic Riding Courses 630 December Show 1,330 389,570 ‘Other operating income Government grants received 131,622 128,765 131,622 521,192 106,342, 45,495 160,608, 26,715 6,650 1,060 285 1,150 80,218 1,870 14,221 3,300 810 448,724 128,765 577,489DRAFT FINANCIAL STATEMENTS 6 May 2015 14:07:10 DATASET 31 December 2014 (Cumann Lucht Capai ‘Chonamara (A Company Limited by Guarantee and not having a Share Capital) Expenditure Wages and salaries Employer's PRS/NI contributions Microchip Insurance European Championships Light and heat Repairs and maintenance Postage Printing & Stationary Advertising Marketing & Promotion Registration & Inspection Costs Parentage Testing Kits Heritage Centre Costs ‘Telephone ‘Computer costs Spring Weekend Costs Performance Clinic Performance Sponsorship Motor expenses Judges Courses Legal and professional Consultancy ‘Accountancy Audit Bank charges Amortisation of Grants Council & Society Meetings General expenses Charitable donations - other Subscriptions Show Expenses Christmas Show Expenses Therapeutic Riding Depreciation Charge Detailed Expenditure Accom for the year ended 31 December 2014 2014 € € 123,030, 13,582 14,651 4,500 4,605 - 3,694 5,941 21,114 29,922 165 5,761 25,589 57,156 3,876 8,298 2,289 982 1,264 2,349 683 15,027 562 2,160 4,200 2,049 (1,235) 3,696 2,130 300 190 60,755 2,005 21,862 11,594 2013, 166,751 17,598 3,453 4222, 14111 22,912 58,452 165 16,701 37,036 86,173 1,450 5,514 5,535 3,343 2,378 1,250 3,281 32,863 2,056 4.976 4,200 1,948 (1,235) 4,956 2,026 100 190 80,058 13,061 11,484PRAET FINANCIAL STATEMENTS 6 May 2015 14:07:10 DATASET 31 December 2014 Cumann Lucht Capaillini Chonamara (A Company Limited by Guarantee and not having a Share Capital) Detailed Show trading profit and loss account and expenses schedule for the year ended 31 December 2014 2014 Pony Show - Rent of Stables Pony Show - Catalogue Sales Pony Show - Advertising in Catalogue Pony Show - Entry Fees Pony Show - Loose Jumping Pony Show - Gate Receipts ‘Pony Show - Sponsorship Classes Pony Show - Bus Tour Expenditure Administration Ambulance Catalogue Catering Sponsors & Guest Communications & Public Address Judges Loose Jumping Expenses Parking Prize Money Promotion & Advertising Public Liability Insuranee Repairs & Maintenance Rosettes & Trophies Sanitary Services ‘Show Queen, Showdown. Stewards Working Hunter Expenses Domestic Arts Christmas Show Expenses International Tour Music & Music Ride Driving Green Hunter Expenses Irish Dancing ‘Temporary Stables Sundry Gross Profit 1,040 6,680, 1,535 17,950 2,105 26,965 27,670 84,515 2013 900 7.024 2,745 13,308 1,760 26,981 27,500 80,218