``` REGISTERED COMPANY NUMBER: 03507902 (England and Wales) REGISTERED CHARITY NUMBER: 1068176 ``` ## **`REPORT OF THE TRUSTEES AND`** ## **`FINANCIAL STATEMENTS`** ## **`FOR THE YEAR ENDED 31 MARCH 2025`** ## **`FOR`** ``` INTERNATIONAL FOOD INFORMATION SERVICE (IFIS PUBLISHING) ``` ``` Collards Chartered Accountants Statutory Auditor 5-9 Eden Street Kingston-upon-Thames Surrey KT1 1BQ ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE (IFIS PUBLISHING) ``` ## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025`** |||**`Page`**|| |---|---|---|---| |**`Report of the Trustees`**|`1`|`to`|`8`| |**`Report of the Independent Auditors`**|`9`|`to`|`12`| |**`Statement of Financial Activities`**||`13`|| |**`Balance Sheet`**||`14`|| |**`Cash Flow Statement`**||`15`|| |**`Notes to the Cash Flow Statement`**||`16`|| |**`Notes to the Financial Statements`**|`17`|`to`|`26`| |**`Detailed Statement of Financial Activities`**|`27`|`to`|`28`| ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ## **`(IFIS PUBLISHING) (REGISTERED NUMBER: 03507902)`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreport with thefinancialstatementsofthecharityfortheyearended31March2025.Thetrusteeshaveadoptedtheprovisions of AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims Summary of objectives`** ``` a.TheobjectiveofIFISPublishingistoadvancepubliceducationandvocationaltraininginthesciencesoffood and health ("the objective"). The term 'food' also encompasses drinking water, and alcoholic and non- alcoholic beverages. ``` ``` b. In pursuit of the above objective IFIS Publishing will: ``` ``` *acquire,process,createanddisseminateinformationon,andrelevantto,thesciencesoffoodandhealth, with particularreferenceto:foodsafetyandhygiene;foodregulations;foodcomposition;sensoryanalysis;the chemical, physical,biologicalandnutritionalpropertiesoffoodsandfoodproducts;andtheprocessing,manufacture, packaging, storage and distribution of foods. ``` ``` *participateinresearchanddevelopmentprojectsdesignedtocollect/collate,prepareanddisseminateinformation on, and relevant to, the sciences of food and health. ``` ``` *undertakeothertasksconnectedwiththeprovisionofsubjectrelevantscientificandtechnicalinformation,training and education. ``` ``` c.IFISPublishingwillco-operate/collaboratewithotherrelevant/appropriateorganisationsandmay,inaddition, acquire other information services and products, or shares in them. ``` ``` d.IFISPublishinghasaspecialinterestinassistingdevelopingcountriestoimprovetheiraccesstoinformation services in the sciences of food and health in order to help meet national and regional educational and training needs. ``` ``` ThetrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharityCommission'sgeneralguidance on public benefit when reviewing the objectives of the charity and in planning future activities. ``` ## **`Restriction of operations`** ``` a.IFISPublishingoperatesexclusivelyforscientificandeducationalpurposesandwillnotbeoperatedforthepurpose of carrying on a trade or business for profit. ``` ``` b.IFISPublishing'sassetswillbeutilisedonlyinpursuanceofitsobjectivesandinaccordancewithits Constitution. Neithertrustees,noranyotherorganisation,orprivateindividualmayorwillreceiveanydividendorany other distribution out of the assets or earnings of IFIS Publishing. ``` ``` c.NopersonshallreceiveanypaymentorbenefitfromIFISPublishinginrespectofexpenditureincurredinrelation to matters falling outside the objectives of the company. ``` ``` Page 1 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ``` (IFIS PUBLISHING) (REGISTERED NUMBER: 03507902) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025`** ## **`OBJECTIVES AND ACTIVITIES Public benefit Aims`** ``` TheultimatemissionofIFISPublishingistobethegloballyrecognizedproviderofinternationallyapplicable, top-quality informationrelevanttothesciencesoffoodandhealth.Weaimtomeettheresearch,education,andtrainingneeds of industry, academia, schools and the general public. ``` ``` TheIFISPublishingwebsite(www.ifis.org)offersfreeaccesstoarticlesaboutfoodandhealth,providing valuable informationtoabroadaudience.Eachyear,werunseveralindividualandgroupeducationandtrainingactivities to enhancethefoodcommunity'sunderstandingofhowtoeffectivelyutilizerelevantinformationsources.These initiatives are designed to improve public knowledge and support informed decision-making. ``` ``` Sinceitsinceptionin1969,thebibliographicdatabaseFoodScienceandTechnologyAbstracts®(FSTA®)hasbeen the world'sleadingdiscoverydatabasecontainingsourcematerialpublishedonthesciencesoffoodandhealth,and related subjects.FSTAisavailableonvarioussearchplatformsoperatedbythird-partyhostssuchasWoltersKluwerOvid SP, Clarivate Analytics Web of Science, EBSCOhost, ProQuest Dialog, and STN. ``` ``` FSTAiswidelyusedbylibraries,particularlythoseinuniversitiesofferingcoursesinfoodscience,nutrition,and related fields.Thedatabasealsoservesscientistsinthefoodindustry,governmentdepartments,andresearchinstitutes focused onfoodpolicyandnationallyfundedfoodresearch.ThecompanionthesaurusforFSTAisusedtostructurethedata and represents an invaluable aid for efficient database searches, further supporting researchers and educators. ``` ``` IFISPublishing'sdedicationtopublicbenefitisalsoevidentinthecommitmenttomakinghigh-quality scientific informationaccessibletoaglobalaudience.Thisisachievedthroughinitiativeslikethe2023launchofthe free-to-access IFISSustainabilityCollection,adynamicdatabaseofinformationrelevanttofoodscienceandtechnologythatstrives to promotesustainabilitypracticeswithinthefieldandsupporttheglobalfoodcommunity.Promotinginformationaccess for scientists in developing economies, IFIS also participates in the United Nation's Research4Life programme. ``` ``` Bycontinuouslydevelopingandprovidingtop-qualityinformationresources,IFISPublishingfulfillsitsmissionto support theinformationneedsofthefoodsciencecommunityandthebroaderpublic,ultimatelycontributingtoimproved health and well-being worldwide. ``` ## **`Beneficiaries`** ``` TheprimeanddirectbeneficiariesfromIFISPublishingproductsandservicesarethosepeopleand organisations comprisingtheglobalfoodanddrinkcommunitywhostrivetoensurethatknowledge,trainingandeducationin all relatedsubjectareasarebasedonscientificintegrityandqualityofinformation.Membersofthegeneralpublic benefit directlybyvirtueoffreeaccesstocertainarticlesavailableontheIFISwebsite,andviasomelibraries;theyalso benefit indirectly via the prime beneficiaries. ``` ``` Theultimateaimofinformationprovisionofthistypeistohelpensurethattheworld'sknowledgeofthesciencesof food andhealthisavailabletobeappliedforthebenefitofallpeopleinallcontextsincluding,forexample:tackling the problemssufferedbytheundernourishedortheobese;andhelpingtoensurethateachcountryoftheworldhas the information it needs to produce the required sustainable quantities of affordable, safe, high-quality food for all its citizens. ``` ## **`Customer types`** ``` IFIScustomertypesarevariedinbackgroundandareinvolvedinanumberofdifferentrolesincluding: teaching; studying;research;productandprocessdevelopment;decisionmaking;policydevelopment;technical management information provision; and consultancy. They are, therefore, drawn typically from the following areas: ``` ``` Universities and colleges Governments and governmental organisations Research Institutes Non-governmental organisations and charities Industry and its various sectors Professional and trade associations Teachers, lecturers and librarians Students Consultants and advisors ``` ``` Page 2 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ## **`(IFIS PUBLISHING) (REGISTERED NUMBER: 03507902)`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025`** ## **`OBJECTIVES AND ACTIVITIES`** ## **`Customer market research`** ``` Feedbackfromcustomersissoughtregularlyusingvariousmethods(e.g.,surveys,interviews,meetingsat conferences). Additionally,IFISPublishinghasformedadvisorygroupswhichrepresenteachofourkeystakeholdergroups (namely faculty,library,corporateandstudentgroups).Thesegroupsadviseonthemarketenvironmentand development initiatives and opportunities. ``` ## **`ACHIEVEMENT AND PERFORMANCE`** ## **`Investment performance`** ## **`Specific Investment Powers`** ``` Fundsmaybeheldinthenameofanyclearingbank,anytrustcorporationoranystockbrokingcompanywhichis a memberoftheStockExchangeasnomineeforthetrustees.Atpresent,IFIS'sinvestmentsareactivelymanaged by Rathbones. ``` ## **`Investment Policy and Performance`** ``` Theobjectiveoftheportfolioistomakeinvestmentsthatpreservethecapitalprincipal,tosafeguardtheprincipaland its income,andprovideacompetitivelong-termtotalreturnasfaraspossible.Theportfoliocompositionandbalance are designedtoachieve"conservativegrowth".Thisisaboutmid-waybetweeninvestingtoachievehighincome and investing to achieve high capital growth. ``` ``` Nominallytheportfoliocomprises68.5%equities,24.5%cashandbondsand7%indiversifyingassets.IFISis not investingincarbon-intensiveindustries,howevertheremaybeade-minimislevelofexposureviathefundsheldin the portfoliowhichareregularlymonitoredwiththeaimofkeepingbelowathresholdof1.8%ofthetotal portfolio allocation. ``` ``` Page 3 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ``` (IFIS PUBLISHING) (REGISTERED NUMBER: 03507902) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025`** ## **`ACHIEVEMENT AND PERFORMANCE`** ## **`Overview`** ``` Thecharitycontinuestoimplementthestrategicdevelopmentinitiativesapprovedbythetrustees.Athree-year rolling strategicplanispresentedtotheBoardatthebeginningofeachfinancialyear,withprogressreviewedateach quarterly meeting. ``` ``` During2023-2024,IFISPublishingundertookeffortstoexpanditsdatabaseoffering,culminatinginthelaunchofa new bibliographicdatabase,NutriHealth,inpartnershipwithWoltersKluwer.NutriHealthcontainsasubsetofFSTA data focusedonthesciencesofdietandhealth,supportingresearchinthemedicalfield.Thisinitiativeunderscores the charity'scommitmenttoaddressingemergingresearchneedsandfacilitatingaccesstocriticalinformationthat can influence health outcomes. ``` ``` Furtheringthecharitablemissiontoimproveaccesstoscientificliteratureandsupportthediscoveryneedsofthe food sciencecommunity,thenot-for-profitalsolaunchedtheIFISSustainabilityCollection,adynamic,free-to-access database ofinformationrelevanttosustainablefoodscience.Thiscollectioncontainsarollingsix-monthsegmentofdataand is accessible globally, promoting sustainability practices within the field. ``` ``` Thecharityhasadvanceditsthoughtleadershipeffortsacrossdigitalandface-to-facechannels,presentingdata at variousconferencesandeventsontopicsrangingfromacademicpublishingtotrendsinfoodandhealthscience.It has partneredwithleadingadvocatesofscientificintegrity,includingRetractionWatch,todrivetheconversation on predatory publishing and paper mill activity. ``` ``` Tosupportbeneficiariesinavoidingfakescience,thecharityhasdevelopedvariousresources,includingafreetool to identifypredatoryopen-accessjournalsandanonlineresourcehub.Educationalactivitiescontinuedthroughoutthe year and included the proportion of research best practice guides and associated webinars. ``` ``` IFIS'scommitmenttoinnovationandcollaborationremainsstrong.Theorganisationcontinuouslyexplores new partnershipsandtechnologicaladvancementstoenhanceitsservicesandextenditsimpact.Afocuson educational outreach,trustworthyscientificinformation,andsupportingtheglobalfoodsciencecommunityunderscores IFIS's dedication to its mission and values. ``` ## **`Financial review`** ``` The movement in funds for the year is set out in note 18. ``` ``` Incomefrom1April2024through31March2025arisingfromactivitiesinfurtheranceofthecharity's objectives amountedto£2,229,816,anincreaseof26%onthepreviousyear.Amajorcomponentoftheincreasewasa one-off paymentforaPlanningGainfromasitepreviouslysoldtoadeveloperwithachangeofuseprofitsharearrangement as partoftheoriginalsale.Thepaymenttotalled£540,305.Thisincreasewasmanagedagainstabackground of challengingeconomicconditions,particularlythefundingsituationinourcoremarketofhigher educational establishments.Withouttheone-offpaymentIncomewouldhavebeen4%lessthantheprioryear.Expenditure was £1,871,572,adecreaseof£110,508comparedtotheprioryear.Thisdecreasewasinthemainduetotight financial controls on expenditure. ``` ``` Netoutgoingresourcesbeforeotherrecognisedgainsandlossesamountedto£426,427.Theresultswere significantly impactedbythesaleoftangiblefixedassetsmentionedinthepreviousparagraphduringtheyearandbythereduction in expenditure. ``` ``` Afterallowingforareducedpensionliabilityinthefinancialyearto31March2025,theaccumulatedfundwasbrought to (£503,124),asignificantimprovementofjustover£640kcomparedtothepreviousyear-end.Thiswasafteran increased paymentduringtheyearof£875,000tothepensionscheme,aspartofthedeficitrecoveryplanagreedasaresultof the latesttriennialvaluationcompletedthisyear.ThishasreducedIFIS'sFixedAssetsalthoughtheCashBalances have improved by £121k. ``` ``` Thetriennialvaluationofthepensionfundfortheperiodending31stDecember2023showedamodestdeterioration in thefundingposition,partlyasaresultoftheuseofmoreconservativeassumptions,especiallyaroundtheDiscount Rate, andtherecenthighlevelofpriceinflationincreasingpensionpaymentssignificantly.Arevisedscheduleof Deficit ReductionContributionswasagreedwithalargepaymentof£2mincalendaryear2025,withsmallercontribution levels in future years of £200k. ``` ``` Page 4 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ## **`(IFIS PUBLISHING) (REGISTERED NUMBER: 03507902)`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025`** ## **`ACHIEVEMENT AND PERFORMANCE`** ``` Theliquiditypositioncontinuestobefavourablewith£2,326,948ininvestments,and£902,881inbankand cash balances.TheestimatedvalueofthefixedassetsofIFISPublishingisnotmateriallydifferentfromthatshownin the accounts. ``` ``` All investments held by IFIS Publishing have been acquired in accordance with the powers available to the trustees. ``` ## **`FINANCIAL REVIEW`** ## **`Reserves policy`** ``` ThetrusteeshaveconsideredthekeyrequirementsoftheCharitiesAct2011.Theyhavecontinuedtoreview IFIS Publishingreservesandtheinvestmentportfolio.Considerationoftheseissuesisconductedundertheguidanceof the Chair of the Governing Board and the six other member trustees on the Board. ``` ``` ThefinancialreservessetasidesincetheformationofIFISPublishingprovidefinancialstabilityandthemeansfor the developmentoftheprincipalinformationproductsandservices.Undesignatedfundsaremaintainedatalevelthatis at leastequivalenttoapproximatelyoneyear'soperatingcosts,pluspotentialpensionliabilitycosts.Theaccumulated fund iscurrently(£503,124)whichisconsideredanappropriatelevelduetothelong-termnatureofthepotential pension liabilities. ``` ``` Inaddition,undesignatedfundsaresetasideinreadinesstoenablethecontinueddevelopmentofinformation products andservicesforthebenefitoftheinternationalfoodcommunity.Someoftheseundesignatedfundsmaybeused to financetheuseofspecialist,outsourcedexpertiseacquiredviakeyexternaldevelopmentpartnershipsorby the appointment of consultants. ``` ``` Inadditiontotheauditedaccounts,managementaccountsarereportedtotheGoverningBoardatleastfour times annually for monitoring income and expenditure against the pre-agreed annual budget. ``` ``` Page 5 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ## **`(IFIS PUBLISHING) (REGISTERED NUMBER: 03507902)`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025`** ## **`FUTURE PLANS`** ``` IFISPublishingaimstostabiliserevenuetrendsinitscoredatabasebusiness,FSTA,throughimprovedrenewalrates and newuseracquisition.Thiswillbeachievedbyleveragingincreasedindustrycollaboration,customer engagement, meaningful partnerships, and the charity's unique value proposition in the fields of food and health. ``` ``` Thecharityisextendingitsreachintoneweducationalsegmentsandmarketsthroughinnovation.TheMarch 2024 launchoftheNutriHealthdatabasedemonstrateshowexistingdataflowscanbeleveragedtomeetthespecificneeds of medicalprofessionals.Thissupportsthecharity'sambitiontoimproveaccesstotrustworthyscientificinformation and supportthescientificcommunity'seffortstobuildafoodsystemthatunderpinsimprovedhumanandplanetaryhealth. In theshortterm,theorganisationwillconcentrateonraisingawarenessoftheproductwithinthemedical community. Outreach plans include: event participation, multichannel awareness campaigns, and thought leadership efforts. ``` ``` Inthemediumterm,IFISPublishingwillexploreothernicheareaswithinfoodscienceandrelateddisciplines, targeting specificprofessionalgroupsandeducationalinstitutions.Byidentifyingemergingtrendsandgapsinthemarket, IFIS aims to develop tailored resources that cater to evolving information needs. ``` ``` Theorganisationwillcontinuetoexplorecollaborationandpartnershipopportunitieswithotherstakeholdersinthe food scienceandtechnologyspacetoextenditsreachandscaleitsimpact.Strategicallianceswithacademic institutions, industry bodies, and technology partners will enhance resource sharing and innovation. ``` ``` AdvancingIFIS'seducationalmissiontopromoteaccesstotrustworthyscientificinformation,trainingefforts will concentrateonthepromotionofresearchbestpractices.Awareness-raisingandoutreachactivitieswillhighlight the growingriskposedbypredatorypublishingandpapermillstotrustinrigorousscientificliterature.Specific initiatives includeworkshops,webinars,conferenceattendance,andthedevelopmentofeducationalmaterialsaimedat both researchers and educators. ``` ``` Ongoingworkistakingplacetounderstandthenuancedimpactofdevelopmentsinartificialintelligenceon academic publishingandscientificresearchgenerally.IFIS'sproductdevelopmenteffortsareexploringhowmachine learning, LLMs,andautomationcanimprovethequalityofitsworkflows.ProcessoptimisationandR&Dwillhelpthecharity build productresilienceandunlockinnovationopportunities.Theseeffortswillfocusonenhancingdataaccuracy and streamlining editorial processes. ``` ``` Inlinewithitsstatedcharitableobjectives,IFISwillcontinuetoparticipateintheResearch4Lifescheme,a public-private partnershipbetweenpublishers,UNagencies,anduniversitiesprovidingfreeorlow-costaccesstoscientificliterature in lower-incomecountries.Throughthisprogramme,FSTAiscurrentlyavailableforfreetouniversitiesand related institutions in over 120 countries. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` TheInternationalFoodInformationService(IFIS)wasfoundedin1968andisnowanorganisationcomprising two separate legally recognised entities based in the United Kingdom. ``` ``` 1.TheInternationalFoodInformationService(IFISPublishing)isacompanylimitedbyguaranteewhichwas registered as a charity on 17 February 1998. Its activities are governed by its Memorandum and Articles of Association. ``` ``` On3April1998,thecompanytookoveralltheoperationsandassetsoftheInternationalFoodInformationService, an unincorporatedassociationwhichwasregisteredasacharityintheUnitedKingdomon13February1990with the registered charity number 802722. ``` ``` Thecompany(IFISPublishing)isconstitutedunderaTrustdeedandhastheregisteredcharitynumber1068176 (with effect from 17 February 1998). ``` ``` 2. IFIS Limited is a wholly owned subsidiary undertaking of IFIS Publishing, dormant since 1 April 1991. ``` ``` Page 6 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ``` (IFIS PUBLISHING) (REGISTERED NUMBER: 03507902) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025`** ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Recruitment and appointment of new trustees`** ``` ThetrusteesofthecharityconductedareviewofitsgovernanceandadoptednewArticlesandByeLawson23 May 2012.ThearticleswerebasedonamodelrecommendedbytheCharityCommission.Themostmaterialchangerelated to asimplificationoftheprocessofappointingtrusteesandmembersofthecharity.Trusteesandmembersarenow one andthesame,therebyremovingtheprevioustwo-tieredmanagementofthecharity.Thechangesallowedthecharity to increase the number of trustees and broaden its knowledge and expertise on the board. ``` ``` Newtrustees,whofulfiltheeligibilitycriteriaandrequirementsspecifiedbytheArticlesandByeLaws,canbevotedon to theBoardbytheexistingtrustees.EachnewtrusteeisgivenaninductiontotheCompanybytheManagingDirector and ChairmanoftheTrustees,andeachisgiventheIFISPublishingdocument'GuidetotheDutiesandResponsibilities of IFISTrustees'.Thisdocumentisreviewedregularlyandincludes:theUKCharityCommissionguidancedocument 'The EssentialTrustee-Whatyouneedtoknow';theIFISPublishingArticlesofAssociationandByeLaws;andcopiesof the annual insurance policy documents relating to Directors and Officers Liability. ``` ## **`Role of Managing Director`** ``` TheManagingDirector,MsKAskew,providesleadershiptoemployeesandisresponsiblefortheoperationaldetail and implementationofthebusinessplanandthemanagementofthecharity,includingcontrolofexpenditureinline with budgetsanddelegationsapprovedbytheBoard.TheManagingDirectorreportsregularlytotheTrusteeson progress against agreed priorities and objectives and seeks opportunities to expand and promote the organisation. ``` ## **`Key management remuneration`** ``` Thetrusteesconsiderthemanagementteamascomprisingthekeymanagementpersonnelofthecharityincharge of directingandcontrollingthecharityandrunningandoperatingthecharityonaday-to-daybasis.Alltrusteesgiveof their timefreelyandnotrusteeremunerationwaspaidintheyear.Detailsoftrusteeexpensesandrelatedparty transactions aredisclosedinnotes11and20totheaccounts.Trusteesarerequiredtodiscloseallrelevantinterestsandregister them withthemanagingdirectorandinaccordancewiththeCharity'spolicywithdrawfromdecisionswhereaconflict of interest arises. ``` ``` Thepayofthecharity'smanagementteamisreviewedannuallyanddisclosedinnote12totheaccounts. Remuneration isnormallyincreasedinaccordancewithfactorssuchasthecurrentinflationrate,individualperformance, and responsibilities,andbench-markedwithorganisationsofasimilarsizeandactivitytoensurethatremunerationis set fairly and not out of line with that generally paid for similar roles. ``` ## **`Risk management`** ``` Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate controls are in place to provide reasonable assurance against fraud and error. ``` ``` ThetrusteesconsidertherisksthattheymayhavetomanageatthefourBoardmeetingswhichareheldeach calendar year (January through December). ``` ``` Ariskregisterisupdatedasjudgednecessary,andriskandcontrolratingsaremonitoredregularly.Appropriate control measures are discussed and implemented. ``` ``` Suchrisksrelate,forexample,tomostoftheincomereceivedbeingpaidinUS$;relevantinsurancesinthisrespect are regularlyreviewed.Provisionforanypossiblebaddebtsismadeintheregularbudgetingprocess.Pensionliabilities, the potentialfordataloss,cybersecurity,investmentchanges,andmarketchangesareotherexamplesofrisksthat are considered. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number`** ``` 03507902 (England and Wales) ``` ## **`Registered Charity number`** ``` 1068176 ``` ## **`Registered office`** ``` 5-9 Eden Street Kingston-upon-Thames Surrey KT1 1BQ ``` ``` Page 7 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ``` (IFIS PUBLISHING) (REGISTERED NUMBER: 03507902) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025`** ## **`Trustees`** ``` Professor C Dennis (Chair) Mr D H Duncan (resigned 11.11.24) Mr P Pavlicic (Vice Chair) Professor W Zhou Ms C T Shannon Dr I J Noble Mr M J Griffiths ``` ## **`Company Secretary`** ``` J F Nash ``` ## **`Auditors`** ``` Collards Chartered Accountants Statutory Auditor 5-9 Eden Street Kingston-upon-Thames Surrey KT1 1BQ ``` ## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES`** ``` Thetrustees(whoarealsothedirectorsofInternationalFoodInformationService(IFISPublishing)forthepurposes of companylaw)areresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatementsinaccordance with applicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerallyAcceptedAccounting Practice) includingFinancialReportingStandard102"TheFinancialReportingStandardapplicableintheUKandRepublic of Ireland". ``` ``` Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyearwhichgiveatrueandfair view ofthestateofaffairsofthecharitablecompanyandoftheincomingresourcesandapplicationofresources,including the incomeandexpenditure,ofthecharitablecompanyforthatperiod.Inpreparingthosefinancialstatements,the trustees are required to ``` - `select suitable accounting policies and then apply them consistently;` - `observe the methods and principles in the Charity SORP;` - `make judgements and estimates that are reasonable and prudent;` - `prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.` ``` Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatany time thefinancialpositionofthecharitablecompanyandtoenablethemtoensurethatthefinancialstatementscomply with theCompaniesAct2006.Theyarealsoresponsibleforsafeguardingtheassetsofthecharitablecompanyandhence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ``` ``` In so far as the trustees are aware: ``` - `there is no relevant audit information of which the charitable company's auditors are unaware; and` - `the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.` ``` Approved by order of the board of trustees on 13 August 2025 and signed on its behalf by: ``` ``` Professor C Dennis (Chair) - Trustee ``` ``` Page 8 ``` ## **`REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF INTERNATIONAL FOOD INFORMATION SERVICE (IFIS PUBLISHING)`** ## **`Opinion`** ``` WehaveauditedthefinancialstatementsofInternationalFoodInformationService(IFISPublishing)(the 'charitable company')fortheyearended31March2025whichcomprisetheStatementofFinancialActivities,theBalanceSheet, the CashFlowStatementandnotestothefinancialstatements,includingasummaryofsignificantaccountingpolicies. The financialreportingframeworkthathasbeenappliedintheirpreparationisapplicablelawandUnitedKingdom Accounting Standards(UnitedKingdomGenerallyAcceptedAccountingPractice),includingFinancialReportingStandard102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. ``` - `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 2025 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and` - `have been prepared in accordance with the requirements of the Companies Act 2006.` ## **`Basis for opinion`** ``` WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicablelaw. Our responsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditofthe financial statementssectionofourreport.Weareindependentofthecharitablecompanyinaccordancewiththe ethical requirementsthatarerelevanttoourauditofthefinancialstatementsintheUK,includingtheFRC'sEthical Standard, andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethatthe audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ``` ## **`Conclusions relating to going concern`** ``` Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasisofaccounting in the preparation of the financial statements is appropriate. ``` ``` Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoeventsor conditions that,individuallyorcollectively,maycastsignificantdoubtonthecharitablecompany'sabilitytocontinueasa going concern for a period of at least twelve months from when the financial statements are authorised for issue. ``` ``` Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribedinthe relevant sections of this report. ``` ## **`Other information`** ``` Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincludedin the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. ``` ``` Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. ``` ``` Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,in doing so,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorour knowledge obtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuchmaterialinconsistencies or apparentmaterialmisstatements,wearerequiredtodeterminewhetherthisgivesrisetoamaterialmisstatementin the financialstatementsthemselves.If,basedontheworkwehaveperformed,weconcludethatthereisa material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ``` ## **`Opinions on other matters prescribed by the Companies Act 2006`** ``` In our opinion, based on the work undertaken in the course of the audit: ``` - `the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and` - - `the Report of the Trustees has been prepared in accordance with applicable legal requirements.` ``` Page 9 ``` ## **`REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF INTERNATIONAL FOOD INFORMATION SERVICE (IFIS PUBLISHING)`** ## **`Matters on which we are required to report by exception`** ``` Inthelightoftheknowledgeandunderstandingofthecharitablecompanyanditsenvironmentobtainedinthecourse of the audit, we have not identified material misstatements in the Report of the Trustees. ``` ``` WehavenothingtoreportinrespectofthefollowingmatterswheretheCompaniesAct2006requiresustoreportto you if, in our opinion: ``` - `adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or` - `the financial statements are not in agreement with the accounting records and returns; or` - `certain disclosures of trustees' remuneration specified by law are not made; or` - - `we have not received all the information and explanations we require for our audit; or` - `the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.` ## **`Responsibilities of trustees`** ``` AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrustees(whoarealsothedirectorsof the charitablecompanyforthepurposesofcompanylaw)areresponsibleforthepreparationofthefinancialstatements and forbeingsatisfiedthattheygiveatrueandfairview,andforsuchinternalcontrolasthetrusteesdetermineis necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. ``` ``` Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitablecompany'sability to continueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoing concern basisofaccountingunlessthetrusteeseitherintendtoliquidatethecharitablecompanyortoceaseoperations,or have no realistic alternative but to do so. ``` ``` Page 10 ``` ## **`REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF INTERNATIONAL FOOD INFORMATION SERVICE`** ## **`(IFIS PUBLISHING)`** ## **`Our responsibilities for the audit of the financial statements`** ``` Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from materialmisstatement,whetherduetofraudorerror,andtoissueaReportoftheIndependentAuditorsthat includes ouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconducted in accordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefrom fraud orerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedto influence the economic decisions of users taken on the basis of these financial statements. ``` ``` The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ``` ``` Ourapproachtoidentifyingandassessingtherisksofmaterialmisstatementinrespectofirregularities,including fraud and non-compliance with laws and regulations, was as follows: ``` ``` *theengagementpartnerensuredthattheengagementteamcollectivelyhadtheappropriatecompetence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; ``` ``` *identifiedlawsandregulationswerecommunicatedwithintheauditteamregularlyandtheteamremainedalert to instances of non-compliance throughout the audit. ``` ``` Weassessedthesusceptibilityofthecompany'sfinancialstatementstomaterialmisstatement,includingobtaining an understanding of how fraud might occur, by: ``` ``` *makingenquiriesofmanagementastowheretheyconsideredtherewassusceptibilitytofraud,theirknowledge of actual, suspected and alleged fraud; ``` ``` * considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; ``` ``` To address the risk of fraud through management bias and override of controls, we: ``` ``` * performed analytical procedures to identify any unusual or unexpected relationships; ``` - `tested journal entries to identify unusual transactions;` ``` *assessedwhetherjudgementsandassumptionsmadeindeterminingtheaccountingestimateswereindicative of potential bias; ``` ``` * investigated the rationale behind significant or unusual transactions; ``` ``` Inresponsetotheriskofirregularitiesandnon-compliancewithlawsandregulations,wedesignedprocedures which included, but were not limited to: ``` - `agreeing financial statement disclosures to underlying supporting documentation;` - `reading the minutes of meetings of those charged with governance;` - `enquiring of management as to actual and potential litigation and claims;` - `reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.` ``` Thereareinherentlimitationsinourauditproceduresdescribedabove.Themoreremovedthatlawsandregulations are fromfinancialtransactions,thelesslikelyitisthatwewouldbecomeawareofnon-compliance.Auditingstandards also limittheauditproceduresrequiredtoidentifynon-compliancewithlawsandregulationstoenquiryofthedirectors and other management and the inspection of regulatory and legal correspondence, if any. ``` ``` Materialmisstatementsthatariseduetofraudcanbehardertodetectthanthosethatarisefromerrorasthey may involve deliberate concealment or collusion. ``` ``` AfurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedontheFinancial Reporting Council'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReportofthe Independent Auditors. ``` ``` Page 11 ``` ## **`REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF INTERNATIONAL FOOD INFORMATION SERVICE (IFIS PUBLISHING)`** ## **`Use of our report`** ``` Thisreportismadesolelytothecharitablecompany'smembers,asabody,inaccordancewithChapter3ofPart16 of theCompaniesAct2006.Ourauditworkhasbeenundertakensothatwemightstatetothecharitable company's membersthosematterswearerequiredtostatetotheminanauditors'reportandfornootherpurpose.Tothe fullest extentpermittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharitablecompanyand the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. ``` ``` Jonathan Addison FCA (Senior Statutory Auditor) for and on behalf of Collards Chartered Accountants Statutory Auditor 5-9 Eden Street Kingston-upon-Thames Surrey KT1 1BQ ``` ``` 13 August 2025 ``` ``` Page 12 ``` ## **`INTERNATIONAL FOOD INFORMATION SERVICE`** ## **`(IFIS PUBLISHING)`** ## **`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025`** |`Notes`
**`INCOME AND ENDOWMENTS FROM`**
**`Charitable activities`**
`5`
`Educational and training`
`Investment income`
`4`
`Other income`
`6`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
`7`
**`Charitable activities`**
`8`
`Educational and training`
**`Total`**
`Net gains on investments`
**`NET INCOME/(EXPENDITURE)`**
**`Other recognised gains/(losses)`**
`Actuarial gains on defined benefit schemes`
**`Net movement in funds`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|**`2025`**
**`Unrestricted`**
**`fund`**
**`£`**
**`1,624,166`**
**`65,345`**
**`540,305`**
**`2,229,816`**
**`15,000`**
**`1,856,572`**
**`1,871,572`**
**`68,183`**
**`426,427`**
**`214,000`**
**`640,427`**
**`(1,143,551)`**
**`(503,124)`**|`2024`
`Total`
`funds`
`£`
`1,696,354`
`67,540`
`-`
`1,763,894`
`17,157`
`1,964,923`
`1,982,080`
`138,783`
`(79,403)`
`53,000`
`(26,403)`
`(1,117,148)`
`(1,143,551)`| |---|---|---| ``` The notes form part of these financial statements ``` ``` Page 13 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ## **`(IFIS PUBLISHING) (REGISTERED NUMBER: 03507902)`** ## **`BALANCE SHEET`** ## **`31 MARCH 2025`** |**`2025`**
**`Unrestricted`**
**`fund`**
`Notes`
**`£`**
**`FIXED ASSETS`**
`Tangible assets`
`13`
**`7,888`**
`Investments`
`14`
**`2,319,060`**
**`2,326,948`**
**`CURRENT ASSETS`**
`Debtors`
`15`
**`284,189`**
`Cash at bank`
**`902,881`**
**`1,187,070`**
**`CREDITORS`**
`Amounts falling due within one year`
`16`
**`(1,048,142)`**
**`NET CURRENT ASSETS`**
**`138,928`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`2,465,876`**
**`PENSION LIABILITY`**
`19`
**`(2,969,000)`**
**`NET ASSETS/(LIABILITIES)`**
**`(503,124)`**
**`FUNDS`**
`18`
`Unrestricted funds`
**`(503,124)`**
**`TOTAL FUNDS`**
**`(503,124)`**|`2024`
`Total`
`funds`
`£`
`9,960`
`2,674,653`
`2,684,613`
`312,709`
`781,940`
`1,094,649`
`(1,127,813)`
`(33,164)`
`2,651,449`
`(3,795,000)`
`(1,143,551)`
`(1,143,551)`
`(1,143,551)`| |---|---| ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies subject to the small companies regime. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon13August2025and were signed on its behalf by: ``` ``` Professor C Dennis (Chair) - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 14 ``` ## **`INTERNATIONAL FOOD INFORMATION SERVICE (IFIS PUBLISHING)`** ## **`CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025`** |||**`2025`**|`2024`| |---|---|---|---| ||`Notes`|**`£`**|`£`| |**`Cash flows from operating activities`**|||| |`Cash generated from operations`|`1`|**`(905,794)`**|`(533,221)`| |`Net cash used in operating activities`||**`(905,794)`**|`(533,221)`| |**`Cash flows from investing activities`**|||| |`Purchase of tangible fixed assets`||**`(2,713)`**|`-`| |`Purchase of fixed asset investments`||**`(412,273)`**|`(933,129)`| |`Sale of tangible fixed assets`||**`540,329`**|`-`| |`Sale of fixed asset investments`||**`836,047`**|`1,291,676`| |`Interest received`||**`17,085`**|`14,486`| |`Dividends received`||**`48,260`**|`53,054`| |`Net cash provided by investing activities`||**`1,026,735`**|`426,087`| ||||| |**`Change in cash and cash equivalents in`**|||| |**`the reporting period`**||**`120,941`**|`(107,134)`| |**`Cash and cash equivalents at the`**|||| |**`beginning of the reporting period`**||**`781,940`**|`889,074`| |**`Cash and cash equivalents at the end of`**|||| |**`the reporting period`**||**`902,881`**|`781,940`| ``` The notes form part of these financial statements ``` ``` Page 15 ``` ## **`INTERNATIONAL FOOD INFORMATION SERVICE`** ## **`(IFIS PUBLISHING)`** ## **`NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025`** ## **`1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES`** |**`ACTIVITIES`**||| |---|---|---| |**`Net income/(expenditure) for the reporting period (as per the`**
**`Statement of Financial Activities)`**
**`Adjustments for:`**
`Depreciation charges`
`Gain on investments`
`Profit on disposal of fixed assets`
`Interest received`
`Dividends received`
`Decrease in debtors`
`Decrease in creditors`
`Difference between pension charge and cash contributions`
**`Net cash used in operations`**|**`2025`**
**`£`**
**`426,427`**
**`4,763`**
**`(68,183)`**
**`(540,305)`**
**`(17,085)`**
**`(48,260)`**
**`28,520`**
**`(79,671)`**
**`(612,000)`**
**`(905,794)`**|`2024`
`£`
`(79,403)`
`5,330`
`(138,783)`
`-`
`(14,486)`
`(53,054)`
`39,360`
`(93,185)`
`(199,000)`| |||`(533,221)`| ## **`2. ANALYSIS OF CHANGES IN NET FUNDS`** |**`Net cash`**
`Cash at bank`
**`Total`**|`At 1.4.24`
`£`
**`781,940`**
**`781,940`**
**`781,940`**|`Cash flow`
**`At 31.3.25`**
`£`
**`£`**
**`120,941`**
**`902,881`**
**`120,941`**
**`902,881`**
**`120,941`**
**`902,881`**|`Cash flow`
**`At 31.3.25`**
`£`
**`£`**
**`120,941`**
**`902,881`**
**`120,941`**
**`902,881`**
**`120,941`**
**`902,881`**| |---|---|---|---| ||||**`902,881`**| ||||**`902,881`**| ``` The notes form part of these financial statements ``` ``` Page 16 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ``` (IFIS PUBLISHING) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025`** ## **`1. STATUTORY INFORMATION`** ``` InternationalFoodInformationServiceisaprivatecompany,limitedbyguarantee,registeredinEngland and Wales.Thecompany'sregisterednumbers(asbotharegisteredcompanyandaregisteredcharity)together with itsregisteredofficeaddresscanbefoundinthereportoftheTrustees.Intheeventofthecharitybeing wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. ``` ## **`2. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Companies Act2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of investments which are included at market value, as modified by the revaluation of certain assets. ``` ## **`Income`** ``` AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is probablethattheincomewillbereceivedandtheamountcanbemeasuredreliablyandisstatedafter trade discounts, other sales taxes and net of VAT. ``` ``` Subscriptionsforthecharity'sdatabaseproductsarecreditedtotheIncomeandExpendituresectionof the Statement of Financial Activities over the period of the subscription on a straight line basis. ``` ``` Royaltiesinrespectofthecharity'sdatabaseproductsarecreditedtotheIncomeandExpendituresectionof the Statement of Financial Activities over the period of the service to which the royalties relate. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisand has beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of resources. ``` ## **`Tangible fixed assets`** ``` Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ``` ``` Office furniture and equipment- 20% on cost Fixtures and fittings- 20% on cost Computer software- Straight line over 4 years and Straight line over 5 years Computer hardware- Straight line over 4 years and Straight line over 6 years ``` ## **`Taxation`** ``` The charity is exempt from corporation tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ``` Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ``` ## **`Foreign currencies`** ``` Assetsandliabilitiesinforeigncurrenciesaretranslatedintosterlingattheratesofexchangerulingatthe balance sheetdate.Transactionsinforeigncurrenciesaretranslatedintosterlingattherateofexchangerulingat the date of transaction. Exchange differences are taken into account in arriving at the operating result. ``` ``` continued... ``` ``` Page 17 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ## **`(IFIS PUBLISHING)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`** ## **`2. ACCOUNTING POLICIES - continued`** ## **`Pension costs and other post-retirement benefits`** ``` IFISPublishingisanAssociatedEmployerwithinthepensionschemeoperatedbyCABInternational. This schemeisadefinedbenefitschemewhichwascappedat£30,000perpersonprorataandsalaries exceeding £30,000werethenenteredintodefinedcontribution.Thescheme'sfundsareadministeredbytrusteesand are independentofthefinancesofbothIFISPublishingandCABInternational.From1April2016thisscheme was closed to new members and all future contributions were paid to a defined contribution scheme. ``` ``` Thecontributionstothedefinedbenefitschemearedeterminedbyaqualifiedindependentactuary,Russell Agius ofAonSolutionsUKLimitedonthebasisoftriennialactuarialvaluations.Thelatestfullactuarialreview, carried out as at 31 December 2023 and updated to 31 March 2025, showed a deficit in the scheme. ``` ## **`Leasing commitments`** ``` RentalsunderoperatingleasesarechargedtotheStatementoffinancialactivitiesincorporatingincome and expenditure account on a straight line basis over the lease term. ``` ## **`3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY`** ``` Thepreparationofthefinancialstatementsrequiresthecharitytomakejudgments,estimatesand assumptions thataffecttheamountsreportedforassetsandliabilitiesasatthebalancesheetdateandtheamounts reported forincomeandexpensesduringtheyear.However,thenatureofestimationmeansthatactualoutcomes could differfromthoseestimates.Thefollowingjudgmentsandestimateshavehadthemostsignificanteffect on amounts recognised in the financial statements. ``` ## **`Tangible fixed assets`** ``` Tangiblefixedassetsaredepreciatedovertheirusefullivestakingintoaccountresidualvalues, where appropriate. The actual lives of the assets and residual values may vary depending on a number of factors. ``` ## **`Bad debt provisions`** ``` Provisionsareestimatedbythecharityinrespectofspecificdebtsbasedupontheageofthedebtand knowledge of known issues. ``` ## **`Accrued expenses`** ``` Accruedexpensesareestimatedbythecharitybaseduponpastexperience,withknowledgeofknownissues at thebalancesheetdate,andmanagementinformationavailableafterthebalancesheetdate,inrespectof matters for which the charity is confident there will be an outflow of economic benefit. ``` ## **`Retirement benefits`** ``` Variousassumptionsaremadeinreportingtheperformanceofthecharity'sshareofthepension scheme operatedbyCABInternational.Avaluationiscarriedoutforreportingpurposesbyaqualified independent actuary. The principal actuarial assumptions made are disclosed in note 19. ``` ## **`4. INVESTMENT INCOME`** |**`INVESTMENT INCOME`**||| |---|---|---| |`Dividends receivable`
`Interest receivable`|**`2025`**
**`£`**
**`48,260`**
**`17,085`**
**`65,345`**|`2024`
`£`
`53,054`
`14,486`| |||`67,540`| ``` continued... ``` ``` Page 18 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ``` (IFIS PUBLISHING) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`** |**`5.`**
**`INCOME FROM CHARITABLE ACTIVITIES`**
`Activity`
`Bibliographic databases -`
`subscriptions`
`Educational and training`
`Bibliographic databases -`
`PAYG`
`Educational and training`
`Dictionary, thesaurus, bulletin`
`and reports`
`Educational and training`
`IFIS Collections`
`Educational and training`
`Gains/(losses) on exchange`
`Educational and training`
**`6.`**
**`OTHER INCOME`**
`Gain on sale of tangible fixed assets`
**`7.`**
**`RAISING FUNDS`**
**`Raising donations and legacies`**
`Investment management fees`
**`8.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Educational and training`
**`9.`**
**`SUPPORT COSTS`**
`Educational and training`
**`10.`**
**`NET INCOME/(EXPENDITURE)`**
`Net income/(expenditure) is stated after charging/(crediting):`
`Auditors' remuneration`
`Depreciation - owned assets`
`Surplus on disposal of fixed assets`
`Currency exchange (gains)/losses`
`Operating lease expense`|`Direct`
`Costs`
`£`
**`1,824,543`**|**`2025`**
**`£`**
**`1,551,086`**
**`43,982`**
**`12,532`**
**`5,425`**
**`11,141`**
**`1,624,166`**
**`2025`**
**`£`**
**`540,305`**
**`2025`**
**`£`**
**`15,000`**
`Support`
`costs (see`
`note 9)`
`£`
**`32,029`**
**`2025`**
**`£`**
**`7,009`**
**`4,761`**
**`(540,305)`**
**`216`**
**`41,197`**|**`2025`**
**`£`**
**`1,551,086`**
**`43,982`**
**`12,532`**
**`5,425`**
**`11,141`**
**`1,624,166`**
**`2025`**
**`£`**
**`540,305`**
**`2025`**
**`£`**
**`15,000`**
`Support`
`costs (see`
`note 9)`
`£`
**`32,029`**
**`2025`**
**`£`**
**`7,009`**
**`4,761`**
**`(540,305)`**
**`216`**
**`41,197`**||`2024`
`£`
`1,658,408`
`39,694`
`10,967`
`3,376`
`(16,091)`
`1,696,354`
`2024`
`£`
`-`
`2024`
`£`
`17,157`
`Totals`
`£`
**`1,856,572`**
`Governance`
`costs`
`£`
**`32,029`**
`2024`
`£`
`7,475`
`5,330`
`-`
`21,421`
`39,623`| |---|---|---|---|---|---| ||||||| ||||||| ||||||| ``` continued... ``` ``` Page 19 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ## **`(IFIS PUBLISHING)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`** ## **`11. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2025norfortheyear ended 31 March 2024. ``` ## **`Trustees' expenses`** ``` During the year the following expenses were reimbursed to the charity's trustees: ``` ||**`2025`**|`2024`| |---|---|---| ||**`£`**|`£`| |||| |`Travel and subsistence`|**`232`**|`12,868`| |||| ``` The number of trustees to whom expenses were reimbursed was 7 (2024 : 8). ``` ## **`12. STAFF COSTS`** |`Wages and salaries`
`Social security costs`
`Other pension costs`
`The average monthly number of employees during the year was as follows:`
`Advancement of public education`
`Support`|**`2025`**
**`£`**
**`663,629`**
**`58,149`**
**`935,687`**
**`1,657,465`**
**`2025`**
**`15`**
**`2`**
**`17`**|`2024`
`£`
`643,219`
`57,402`
`558,737`|`2024`
`£`
`643,219`
`57,402`
`558,737`| |---|---|---|---| |||`1,259,358`|| ||||`2024`
`18`
`2`
`20`| ``` The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: ``` |`£60,001 - £70,000`
`£90,001 - £100,000`|**`2025`**
**`1`**
**`1`**
**`2`**|`2024`
`1`
`1`| |---|---|---| |||`2`| ``` Benefitsareaccruingtotheseemployeesunderthecharity'sdefinedbenefitscheme.Contributionspaidin the periodamountedto£nil(2024:£nil).Benefitsarealsoaccruingtotheseemployeesunderthecharity's defined contribution scheme. Contributions paid in the period amounted to £nil (2024: £nil). ``` ``` ThecharityconsidersitskeymanagementpersonnelcomprisetheTrustees,theManagingDirector,Head of Marketing&EngagementandtheHeadofProductDevelopment.Thetotalemploymentbenefits including employerpensioncontributionsandnationalinsuranceofthekeymanagementpersonnelwere£249,932 (2024: £235,278). The Trustees received no remuneration during the period (2024: £nil). ``` ``` continued... ``` ``` Page 20 ``` ## **`INTERNATIONAL FOOD INFORMATION SERVICE`** ## **`(IFIS PUBLISHING)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`** ## **`13. TANGIBLE FIXED ASSETS`** |`Office`
`furniture`
`and`
`equipment`
`£`
**`COST`**
`At 1 April 2024`
**`4,681`**
`Additions`
**`-`**
`Disposals`
**`(4,681)`**
`At 31 March 2025`
**`-`**
**`DEPRECIATION`**
`At 1 April 2024`
**`4,681`**
`Charge for year`
**`-`**
`Eliminated on disposal`
**`(4,681)`**
`At 31 March 2025`
**`-`**
**`NET BOOK VALUE`**
`At 31 March 2025`
**`-`**
`At 31 March 2024`
`-`
**`14.`**
**`FIXED ASSET INVESTMENTS`**
**`MARKET VALUE`**
`At 1 April 2024`
`Additions`
`Disposals`
`Revaluations`
`At 31 March 2025`
**`NET BOOK VALUE`**
`At 31 March 2025`
`At 31 March 2024`
`UK investment assets`
`Overseas investment assets`|`Office`
`furniture`
`and`
`equipment`
`£`
**`COST`**
`At 1 April 2024`
**`4,681`**
`Additions`
**`-`**
`Disposals`
**`(4,681)`**
`At 31 March 2025`
**`-`**
**`DEPRECIATION`**
`At 1 April 2024`
**`4,681`**
`Charge for year`
**`-`**
`Eliminated on disposal`
**`(4,681)`**
`At 31 March 2025`
**`-`**
**`NET BOOK VALUE`**
`At 31 March 2025`
**`-`**
`At 31 March 2024`
`-`
**`14.`**
**`FIXED ASSET INVESTMENTS`**
**`MARKET VALUE`**
`At 1 April 2024`
`Additions`
`Disposals`
`Revaluations`
`At 31 March 2025`
**`NET BOOK VALUE`**
`At 31 March 2025`
`At 31 March 2024`
`UK investment assets`
`Overseas investment assets`|`Fixtures`
`and`
`fittings`
`£`
**`1,356`**
**`-`**
**`(1,356)`**
**`-`**
**`1,099`**
**`233`**
**`(1,332)`**
**`-`**
**`-`**
`257`
`Shares in`
`group`
`undertakings`
`£`
**`2`**
**`-`**
**`-`**
**`-`**
**`2`**
**`2`**
`2`|`Computer`
`software`
`£`
**`3,080`**
**`-`**
**`-`**
**`3,080`**
**`1,117`**
**`746`**
**`-`**
**`1,863`**
**`1,217`**
`1,963`
`Listed`
`investments`
`£`
**`2,629,300`**
**`412,273`**
**`(800,638)`**
**`44,668`**
**`2,285,603`**
**`2,285,603`**
`2,629,300`|`Computer`
`software`
`£`
**`3,080`**
**`-`**
**`-`**
**`3,080`**
**`1,117`**
**`746`**
**`-`**
**`1,863`**
**`1,217`**
`1,963`
`Listed`
`investments`
`£`
**`2,629,300`**
**`412,273`**
**`(800,638)`**
**`44,668`**
**`2,285,603`**
**`2,285,603`**
`2,629,300`|`Computer`
`hardware`
`£`
**`43,992`**
**`2,713`**
**`(27,835)`**
**`18,870`**
**`36,252`**
**`3,782`**
**`(27,835)`**
**`12,199`**
**`6,671`**
`7,740`
`Cash and`
`settlements`
`pending`
`£`
**`45,351`**
**`-`**
**`(11,896)`**
**`-`**
**`33,455`**
**`33,455`**
`45,351`||`Totals`
`£`
**`53,109`**
**`2,713`**
**`(33,872)`**
**`21,950`**
**`43,149`**
**`4,761`**
**`(33,848)`**
**`14,062`**
**`7,888`**
`9,960`
`Totals`
`£`
**`2,674,653`**
**`412,273`**
**`(812,534)`**
**`44,668`**
**`2,319,060`**
**`2,319,060`**
`2,674,653`| |---|---|---|---|---|---|---|---| ||||||**`2025`**||`2024`| ||||||**`£`**||`£`| ||||||**`1,461,465`**||`1,518,918`| ||||||**`857,595`**||`1,155,735`| ||||||||| ||||||||| ||||||**`2,319,060`**||`2,674,653`| ||||||||| ``` continued... ``` ``` Page 21 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ## **`(IFIS PUBLISHING)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`** ## **`14. FIXED ASSET INVESTMENTS - continued`** ``` Cost or valuation at 31 March 2025 is represented by: ``` |`Valuation in 2025`
`Cost`|**`Shares in`**
**`group`**
**`Listed`**
**`undertakings`**
**`investments`**
**`£`**
**`£`**
**`-`**
**`212,566`**
**`2`**
**`2,073,037`**
**`2`**
**`2,285,603`**|**`Cash and`**
**`settlements`**
**`pending`**
**`£`**
**`-`**
**`33,455`**
**`33,455`**|**`Totals`**
**`£`**
**`212,566`**
**`2,106,494`**| |---|---|---|---| ||||**`2,319,060`**| ``` The company's investments at the balance sheet date in the share capital of companies include the following: ``` ## **`IFIS Limited`** ``` Registered office: 5-9 Eden Street, Kingston Upon Thames, England, KT1 1BQ Nature of business: Dormant ``` |`%`
`Class of share:`
`holding`
`Ordinary`
**`100`**
`Aggregate capital and reserves`
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade debtors`
`Other debtors`
`Prepayments and accrued income`
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade creditors`
`Amounts owed to group undertakings`
`Other creditors`
`Accruals and deferred income`|| |---|---| ## **`15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** ## **`16.`** ## **`Subscription and Royalties in Advance`** ``` Includedwithinaccrualsanddeferredincomeissubscriptionandroyaltyincomereceivedinadvance. The movement for the year is described below: ``` ||**`2025`**|`2024`| |---|---|---| ||**`£`**|`£`| |`Balance as at 1 April`|**`996,545`**|`1,075,977`| |`Amounts released to income`|**`(996,545)`**|`(1,075,977)`| |`Amounts deferred in the year`|**`946,522`**|`996,545`| |||| |`Balance at 31 March`|**`946,522`**|`996,545`| |||| |||| ``` continued... ``` ``` Page 22 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ``` (IFIS PUBLISHING) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`** ## **`17. LEASING AGREEMENTS`** ``` Minimum lease payments under non-cancellable operating leases fall due as follows: ``` |`Within one year`
`Between one and five years`
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.4.24`
`£`
**`(1,143,551)`**
**`(1,143,551)`**|**`2025`**
**`£`**
**`3,797`**
**`-`**
**`3,797`**
`Net`
`movement`
`in funds`
`£`
**`640,427`**
**`640,427`**|`2024`
`£`
`-`
`69,646`
`69,646`
`At`
`31.3.25`
`£`
**`(503,124)`**
**`(503,124)`**| |---|---|---|---| ## **`18. MOVEMENT IN FUNDS`** ``` Net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
**`2,229,816`**
**`2,229,816`**|`Resources`
`expended`
`£`
**`(1,871,572)`**
**`(1,871,572)`**|`Gains and`
`losses`
`£`
**`282,183`**
**`282,183`**|`Movement`
`in funds`
`£`
**`640,427`**
**`640,427`**| |---|---|---|---|---| ## **`Comparatives for movement in funds`** |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.4.23`
`£`
`(1,117,148)`
`(1,117,148)`|`Net`
`movement`
`in funds`
`£`
`(26,403)`
`(26,403)`|`At`
`31.3.24`
`£`
`(1,143,551)`
`(1,143,551)`| |---|---|---|---| ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`1,763,894`
`1,763,894`|`Resources`
`expended`
`£`
`(1,982,080)`
`(1,982,080)`|`Gains and`
`losses`
`£`
`191,783`
`191,783`|`Movement`
`in funds`
`£`
`(26,403)`
`(26,403)`| |---|---|---|---|---| ``` continued... ``` ``` Page 23 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ``` (IFIS PUBLISHING) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`** ## **`19. EMPLOYEE BENEFIT OBLIGATIONS`** ``` IFISPublishingisanAssociatedEmployerwithinthepensionschemeoperatedbyCABInternational.Until 1 August2007theschemewasawhollydefinedbenefitscheme,itthenbecameinpartadefinedbenefit scheme andinpartadefinedcontributionscheme.Thescheme'sfundsareadministeredbytrusteesandare independent of the finances of both IFIS Publishing and CAB International. ``` ``` TheperformanceofIFISPublishing'sshareoftheschemeisreportedinaccordancewiththeprovisionsof FRS 102, which are incorporated within the Charities SORP (FRS 102). ``` ``` Afullactuarialvaluationoftheschemewascarriedoutasat31December2023andupdatedto31March 2025 by a qualified independent actuary for the purposes of this disclosure. ``` ``` The amounts recognised in the Balance Sheet are as follows: ``` ||**`Defined benefit`**|**`Defined benefit`**| |---|---|---| ||**`pension plans`**|| ||**`2025`**|`2024`| ||**`£`**|`£`| |`Present value of funded obligations`|**`(8,646,000)`**|`(9,325,000)`| |`Fair value of plan assets`|**`5,677,000`**|`5,530,000`| ||**`(2,969,000)`**|`(3,795,000)`| |`Present value of unfunded obligations`|**`-`**|`-`| |`Deficit`|**`(2,969,000)`**|`(3,795,000)`| |`Net liability`|**`(2,969,000)`**|`(3,795,000)`| ``` The amounts recognised in the Statement of Financial Activities are as follows: ``` |`Current service cost`
`Net interest from net defined benefit`
`asset/liability`
`Past service cost`
`Actual return on plan assets`|**`Defined benefit`**
**`pension plans`**
**`2025`**
`2024`
**`£`**
`£`
**`-`**
`-`
**`163,000`**
`181,000`
**`-`**
`-`
**`163,000`**
`181,000`
**`(109,000)`**
`122,000`|**`Defined benefit`**
**`pension plans`**
**`2025`**
`2024`
**`£`**
`£`
**`-`**
`-`
**`163,000`**
`181,000`
**`-`**
`-`
**`163,000`**
`181,000`
**`(109,000)`**
`122,000`| |---|---|---| |||`181,000`| |||`122,000`| ``` Changes in the present value of the defined benefit obligation are as follows: ``` |`Opening defined benefit obligation`
`Interest cost`
`Benefits paid`
`Oblig other remeasurement`|**`Defined benefit`**
**`pension plans`**
**`2025`**
`2024`
**`£`**
`£`
**`9,325,000`**
`9,559,000`
**`435,000`**
`438,000`
**`(519,000)`**
`(484,000)`
**`(595,000)`**
`(188,000)`
**`8,646,000`**
`9,325,000`|**`Defined benefit`**
**`pension plans`**
**`2025`**
`2024`
**`£`**
`£`
**`9,325,000`**
`9,559,000`
**`435,000`**
`438,000`
**`(519,000)`**
`(484,000)`
**`(595,000)`**
`(188,000)`
**`8,646,000`**
`9,325,000`| |---|---|---| |||`9,325,000`| ``` continued... ``` ``` Page 24 ``` ## **`INTERNATIONAL FOOD INFORMATION SERVICE`** ## **`(IFIS PUBLISHING)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`** ## **`19. EMPLOYEE BENEFIT OBLIGATIONS - continued`** ``` Changes in the fair value of scheme assets are as follows: ``` |`Opening fair value of scheme assets`
`Contributions by employer`
`Pension scheme expenses`
`Expected return`
`Actuarial gains/(losses)`
`Benefits paid`|**`Defined benefit`**
**`pension plans`**
**`2025`**
`2024`
**`£`**
`£`
**`5,530,000`**
`5,512,000`
**`875,000`**
`500,000`
**`(100,000)`**
`(120,000)`
**`272,000`**
`257,000`
**`(381,000)`**
`(135,000)`
**`(519,000)`**
`(484,000)`
**`5,677,000`**
`5,530,000`|**`Defined benefit`**
**`pension plans`**
**`2025`**
`2024`
**`£`**
`£`
**`5,530,000`**
`5,512,000`
**`875,000`**
`500,000`
**`(100,000)`**
`(120,000)`
**`272,000`**
`257,000`
**`(381,000)`**
`(135,000)`
**`(519,000)`**
`(484,000)`
**`5,677,000`**
`5,530,000`| |---|---|---| |||`5,530,000`| ``` The amounts recognised in other recognised gains and losses are as follows: ``` |`Oblig other remeasurement`
`Actuarial gains/(losses)`|**`Defined benefit`**
**`pension plans`**
**`2025`**
`2024`
**`£`**
`£`
**`595,000`**
`188,000`
**`(381,000)`**
`(135,000)`
**`214,000`**
`53,000`|**`Defined benefit`**
**`pension plans`**
**`2025`**
`2024`
**`£`**
`£`
**`595,000`**
`188,000`
**`(381,000)`**
`(135,000)`
**`214,000`**
`53,000`| |---|---|---| |||`53,000`| ``` The major categories of scheme assets as amounts of total scheme assets are as follows: ``` |`Fiduciary portfolios`
`Cash/other`
`Private market assets`|**`Defined benefit`**
**`pension plans`**
**`2025`**
`2024`
**`£`**
`£`
**`4,557,000`**
`4,780,000`
**`467,000`**
`104,000`
**`653,000`**
`646,000`
**`5,677,000`**
`5,530,000`|**`Defined benefit`**
**`pension plans`**
**`2025`**
`2024`
**`£`**
`£`
**`4,557,000`**
`4,780,000`
**`467,000`**
`104,000`
**`653,000`**
`646,000`
**`5,677,000`**
`5,530,000`| |---|---|---| |||`5,530,000`| ``` Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages): ``` ||**`2025`**|`2024`| |---|---|---| |`Discount rate`|**`5.60%`**|`4.80%`| |`Future pension increases`|**`3.20%`**|`3.20%`| ``` continued... ``` ``` Page 25 ``` ``` INTERNATIONAL FOOD INFORMATION SERVICE ``` ## **`(IFIS PUBLISHING)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025`** ## **`20. RELATED PARTY DISCLOSURES`** ``` Therewerenootherrelatedpartytransactionsduringtheyear.Transactionsinvolvingtrusteeshave been disclosed in note 11 of these accounts and comprise expense reimbursements only. ``` ``` Page 26 ``` ## **`INTERNATIONAL FOOD INFORMATION SERVICE`** ## **`(IFIS PUBLISHING)`** ## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025`** |**`INCOME AND ENDOWMENTS`**
**`Investment income`**
`Dividends receivable`
`Interest receivable`
**`Charitable activities`**
`Bibliographic databases - subscriptions`
`Bibliographic databases - PAYG`
`Dictionary, thesaurus, bulletin and reports`
`IFIS Collections`
`Gains/(losses) on exchange`
**`Other income`**
`Gain on sale of tangible fixed assets`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Raising donations and legacies`**
`Investment management fees`
**`Charitable activities`**
`Salaries`
`Social security`
`Pensions`
`Other employment and outworker costs`
`(Gains)/losses on defined benefit pension scheme`
`Production and distribution`
`New product development`
`Sales and marketing`
`Premises costs`
`Office and IT systems`
`Travel and subsistence`
`Meetings and seminars`
`Legal and professional fees`
`Overheads`
`Other gains/losses on exchange`
`Depreciation of tangible fixed assets`
**`Support costs`**
**`Governance costs`**
`Salaries`
`Social security`
`Carried forward`|`2025`
`£`
**`48,260`**
**`17,085`**
**`65,345`**
**`1,551,086`**
**`43,982`**
**`12,532`**
**`5,425`**
**`11,141`**
**`1,624,166`**
**`540,305`**
**`2,229,816`**
**`15,000`**
**`641,847`**
**`55,143`**
**`935,687`**
**`367,200`**
**`(612,000)`**
**`104,007`**
**`55,469`**
**`111,065`**
**`90,121`**
**`25,477`**
**`12,306`**
**`682`**
**`7,935`**
**`10,256`**
**`14,585`**
**`4,763`**
**`1,824,543`**
**`21,782`**
**`3,006`**
**`24,788`**|`2024`
`£`
`53,054`
`14,486`
`67,540`
`1,658,408`
`39,694`
`10,967`
`3,376`
`(16,091)`
`1,696,354`
`-`
`1,763,894`
`17,157`
`622,257`
`54,509`
`558,737`
`434,318`
`(199,000)`
`109,582`
`79,219`
`91,824`
`90,637`
`25,157`
`15,674`
`1,485`
`15,072`
`11,296`
`4,628`
`5,330`
`1,920,725`
`20,962`
`2,893`
`23,855`| |---|---|---| ``` This page does not form part of the statutory financial statements ``` ``` Page 27 ``` ## **`INTERNATIONAL FOOD INFORMATION SERVICE`** ## **`(IFIS PUBLISHING)`** ## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES`** ## **`FOR THE YEAR ENDED 31 MARCH 2025`** |**`Governance costs`**
`Brought forward`
`Auditors' remuneration`
`Travel and subsistence`
`Total resources expended`
**`Net income/(expenditure) before gains and`**
**`losses`**
**`Realised recognised gains and losses`**
`Realised gains/(losses) on fixed asset investments`
**`Net income/(expenditure)`**|`2025`
`£`
**`24,788`**
**`7,009`**
**`232`**
**`32,029`**
**`1,871,572`**
**`358,244`**
**`68,183`**
**`426,427`**|`2024`
`£`
`23,855`
`7,475`
`12,868`
`44,198`
`1,982,080`
`(218,186)`
`138,783`
`(79,403)`| |---|---|---| ``` This page does not form part of the statutory financial statements ``` ``` Page 28 ```