2022-03-31-accounts

The Instrtute for A8rtCu￿ure and Horticulture-Annual Report and Financial Statements For the perirxl ended 31 March 2022 The Institute for Agriculture and Horticulture (fomierly Agskills Limited) {A Company limlted by guardntee} ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2022 Company No: 03824061 Charity No: 1091213

The Institute for &gricutture and HortiCLbItu￿-AnnUol Report and Financial Statements For the period ended 31 March 2022 CONTENTS Reference and Administrative Details Trustees, Annual Report Independent Auditorfs Report 7-11 Statement of Financial Artivities 12 Balance Sheet 13 Statement of Cash Flows 14 Notes to the Financial Statements 15-20

The Institute for Agriculture and Horticulture- Annual Rep)rt and Financial Statement5 For the perlod ended 31 March 2022 REFERENCE AND ADMINISTRATIVE DEfAILS TrUSIEES/DIRECTORS: RRMBerry T W Bradshaw B J Dixon J J Florsheim E D Fursdon AJ Greed J S Haynes JLKing D G LLewellyn R W Longthorp R D Morley S M Oldfield O W Piper K J Quinton J D Swadling (appointed 27 April 20221 (appointed 22 February 2021) (appointed 27 April 20221 (appointed 22 February 20211 (appointed 27 April 20221 (appointed 27 April 20221 (resigned on 24 June 20211 (resigned on 20 July 20211 (appointed 22 February 20211 (appointed 27 April 20221 (appointed 22 February 20211 (appointed 22 March 20211 (resigned on 29 June 2021 and reappointed 27 April 20221 SECRETARY: S A Crocker REGISTERED OFFICE: I St. James Court Whitefriars Norwich Norfolk NR3 IRU REGISTERED NUMBERS: Company No: Charity No= 03824061 1091213 AUDITOFL. Bishop Fleming Chartered Accountsnts and Statutory Auditor 10 Temple Back Bristol BSI 6FL BANKERS: HSBC Bank UK plc Wesley Square Goole East Yorkshi DN14 5EZ Referen￿ and Administrative Detai15

The Institute forP£riculture and HorticUftu￿-AnnUal Report and Financial Statements TRUSTEES. ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2022 The Trustees, who are Directors of the Instttute for Agriculture and Horticulture I'the ChariWI. present their annual report and financial statements for the fourteerkmonth period ended 31 March 2022 {the prior yearfs annual report and financial statements were for the year ended 31 January 2021). The accounting year has been changed to align with fvnding received. On 21 June 2021, the Trustees decided to change the name from Agskills Limited to The Institute for Agriculture and Horticulture (known also by the acronym MAHI to mark a new and Signifi￿nt Stage in the development of the charity. Background and Relationship with Department of the Envlronment, Food and Rural Affairs Within the agriculture and horticulture industries a Senior Leadership Group ISLGI, was formed in 2018, under the chairmanship of Lord Donald Curry. with members from a wide background, to address how to take forward skills development. The SLG decided that it was appropriate to approach the Department of the Environment, Food and Rural Affairs (Defral for funding to form a new professional institute to support agriculture and horticulture pr￿dUCtion industries and consequently a business case was prepared. The SLG formed into a Development Board in 2020. with David Fursdon taking the chair, to further develop the projert. In the Agricultural Transltion Han 2020, published in November, Defra committed to contribute to support the establishment of a new Institute forAgriculture and Horticulture ITIAHI. A key objective for the SLG and the Development Board was to reduce fragmentatlon and consequently rather than forming a new legal entity consideration was gNen to existing vehicle5 that might be approprlate for TIAH. As a result, a successful approach was made to the trustees of the dormant charty. Agskills Limited, for it to be the legal entity forTIAH. Defra gives ongoing commitment and support through the remittance of a 5 year grant which commenced in Juty 2021. The Charity does not proactively fundraise at present. Structure, Governance and Management Govemlng Document The Charity is incorporated as a private company limFted by guarantee. The Articles of Association of the Charity detail the objects and powers of the Charity. Whilst the objects of the charity have remained the same. some of the Article5 of Association were updated for the first tlme in 20 years to reflett current practice. In the event of the Charity being wound up. members are required to contrlbute an amount not exceeding £1 each. Recruitment and Appointment of the Board of Trustees Some of the members of the Development Board V￿re appointed in February 2021 by the existing directors of Agskills Limited. The TIAH Board is skills based to ensure that it includes experience in financial. legal, digital, marketing and other relevant fields. A skills audit was undertaken which infomied the appolntment of additional trustees in April 2022. Trustees are avrnre of their obli8ations in law as Trustees and Directors and ère encouraged to acquaint themselves with publications and guidance available from the Charity Commission. Members of the Board have access to extemal Trustee training. Twstees. Annual Report

The Institute for 4griculiure and Hortl¢u￿Ure- Annual Report and Financial Statements TRUSTEES. ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2022 The Twstees serving during the period were as follows- Name of Trustee RRMBerry TW Bradshaw B J Dixon J J Florsheim E D Fursdon. AJGreed# J S Hayne5 JLKlng D G LLewellyn R W Longthorp R D Morlev. S M Oldfield # O W Piper K J Quinton # J D Swadling Appolntment 27 April 2022 22 February 2021 26 December 2019 27 April 2022 22 February 2021 27 April 2022 27 April 2022 22 February 2021- resigned on 24June 2021 26 December 2019- resigned on 20 July 2021 8 September 1999 22 February 2021 27 April 2022 22 February 2021 22 March 2021 26 December 2019- re5i8ned on 29 June 2021 and reappointed on 27 April 2022 Member of the Finance and General Purposes Committee

Member of the Audit and Risk Committee

OrBanlsatlonal Structure The Board of Trustee5 meets at least four times a year and oversees the future strategy of the Charity. finance and current project work. The Charity ha5 launched the first fivtryear strategic plan which is buili around the following five key goal5= to achieve recognition of the industrfs professional standards and abilities: to deliver a professional framework which informs the development of qualifications and lrfelong learning- to become recognised as a source of information on careers and progression opportuntties: to deliver a professional institute that helps transform the industry. to establish a business model that ensures TIAH'5 Sustainability. The Trustees have abso established sub committees on Finance and General Purposes and Audit and Risk to report to the Board and the membership of each are shown above. The Charity held Trustee Indemnty Insurance during the period. Trustee5' Annual Re￿rt

The In5tiiute forA8ricuEture and HOrticultu￿-AnnUal Report and Financial Statements TRUSTEES, ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2022 Princlpal rlsks and uncertainties The Trustees have examined the major strate8ic, financial, operational and reputstional risks which the charity faces and regularly review what actions can be taken to mitigate these risks. The three risks that would have the highest impact are: a change in Defra policy which results in a change to the grant fundin& inflation which results in a reduction of the delivery against the grant and lack of engagement from potential members due not onty to cost of libllng pressures but also failure to market and communicate effettively. The Charity has policie5 to mitigate against these risks. Objectives and Artivities The Charitys aim is to be the home of skills and careers supportfor those working in the agriculture and horticulture 5ertors. providing tailored advice and prattical tools needed for a prosperous future. In the consideratlon of projects, the Trustees have due regard to the Charrty Commission's guidance on public benefit. The Trustees always ensure that the transactions undertaken are in line with the aims and objectNe5 of the Charity. The charitable objects are: To improve agriculture for the benefit of the public at large by the provision of education. trainin& advice and information for people working in agriculture. Financial Review Total income for the period ended 31 March 2022 was £2.4m (year ended 31 January 2021: £nil). £1.9m was paid OLrt in respect of the produttion ofthe leafning plarform and content and support costs. £768k of this has been capitalised as an asset under con5trurtion. Reserves at 31 March 2022 amounted to £1,330k of which £32k was unrestrirted funds131 January 2021: £3k). Reserves and Investment Policy The Reserves at the period end of £1,330k are primarily in respect of the Defra grant to be spent on the forthcoming yearfs bud8et and the committed funds for the completion of the learning platform. The grant is remitted on specific dates within the period and expenditure is budgeted within this schedule of payments which can be revised in accordante with tommitments made. Under the terms ofthe grant anything that is unspent but not committed cannot be recognised in the period. The 2023 budget contains a contingency to cover unexpected or increased expenditure wrthin the grant. The Charity has free reserves of £32,212 and the Trustees will be putting in place an updated reseTve5 policy when the Charity is in a position to offer services to members and receive income in this respect. The Tnjstees, having regard to the liquidtty requirements of setting up the learning platform ond service offering have operated o policy of keeping surplus funds in an interest-bearing deposit account. Trustees. Annual Report

The Instrtute for Agriculture and Horticulture- Annual Report and Financial Statements TRUSTEES. ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2022 Plans for Future Perl¢xls The Trustees intend to work to the strateg￿ plan with close collaboration with those in the industry and Government. They will continue to engage in meaningful discussion with partners to ensure that TIAH 15 credible and trusted as it addresses the industrfs shifting needs and can support long-term, sustsinable change. Further details on the Instttute for Agriculture and Horticulture actNity can be found on the TIAH website at htt www.t13h.or Trustees, Responsibilities The Trustees, who are directors of the Charity, are responsible for p￿paringthe Trustees, Annual Report and the financial statements in accordance with applicable law and the Generally Accepted Accounting Practice in the UK. Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources. including the income and expenditure, of the Charity for that period. In preparing these financial ststements, the Trustees are required to: select suitable accounting policies and then apply thern consistently: observe the methods and principles in the Charities Statement of Recommended Practice; make judgements and estimates that are reasonable and prudent- stste whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial ststements- and prepare the financial statementson the going cOn￿rn basis unless it Is Snappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Companies Act 2(X)6. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Appointment of Statutory Auditor Bishop Fleming have been appointed as auditor in the period and have signified their wllllngness to continue in office in the forthcoming year. Statement of Disclosure to the Statutory Audltor The Trustees have taken all necessary steps to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. As far as the Trustees are aware, the￿ is no relevant audit information of which the CharitV5 auditor are unaware. Trustees. Annual Report

The Instltute for A8ri¢ulture and Horticulture-Annual Report and Financial Statements TRUSTEES. ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2022 Small Company Provisions This report has been prepared in accordance with the special provisions for small companies under Part IS of the Companies Act 2006. The Annual Report was approved by the Board of Trustees on ...Yr J.1. behalf by: and 5i8ned on their Trustee E D Fursdon Trustees. Annual Rep)rt

The Institute for Agriculture and HortFcutture- Annual Rep)rt and Financial Statements Independent Auditorfs Report to the Members of The Institute for Agriculture and Hortlculture OPINION We have audit¢d th¢ flnancial statements of The Institute for Agriculture and Horticulture (th¢ 'charity') for the period ended 31 March 2022 which comprise the Ststement of Financial Activities. the Balance SheeL the Statement of Cash Flows and the Telat¢d noles. including a summary of significant accounting polici¢s. The financial rep)rting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republtc of Ireland, (Unifrd Kingdom Generally Accepted Accounting Ppdcli¢e). In our opinion the fmancial statements: give a tn￿ and fair view of th¢ state of th¢ charity's affairs as at 31 March 2022 and of its incoming resources and application of resource4 including its income and expenditure for the pertod thcn ended. have been properly prep￿Ed in accordance with United Kingdom Genernlly Acttpted Accounting Practice. and have been prepared in accordance with the Tequirements of the Companies Act 2006. BASIS FOR OPINION We conducted our audit in accordance with International Stsndards on Auditing (UK) (JSAS (UK)) and applicablc law. Our responsibilities under those standards ar¢ further described in thc Auditors, responsibilities for the audit of the financial statements section of our rep)rt. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the finan¢ial stal¢m¢nts in the United Kingdom. including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in ac¢ordan¢¢ wtth these requirements. We believe that the Audit ¢vid¢nc¢ we have obtsined is sufficient and appropriate to provide a basis for our opinion. CONCLUSIOY4S RELATtNG TO GOING CONCERN In auditing the financial sthtements. we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perforni￿ we have not identified aDy material uncertainties ￿lating to events or conditions thaL individually or collectively. may cast significant doubt on the charity's ability to continue as a going concern for a ￿rIOd of ai least ￿e1ve months from when the fjnancial statements are authorised for issue. Our responsibilitie5 and the responsibilities of the Tn￿eeS with respect to going concern are d¢￿rib¢d in the relevant sections of this report. Independent Auditorfs Repjrt

The Instttute for Agriculture and Horticulture- Annual Rep)rt and Flnancial Statements Independent Auditorfs Report to the Members of The Institute for Agrlculture and Horticulture OTHER INFORMATION The other inforn]ation Comprises the infornlation included in the Annual Rekx)rt othcr than the financial ststements and our Auditors, Report thcreon. The Twst¢¢s are reS￿nSIble for the otber inforn]ation contained wtthin the Annual R¢porL Our opinion on the financial statements does not cover the other infornialion anl except tt) the extent otherwise explicitly 5tatcd in our repott wc do not express any forn) of as5ufdnce conclusion thcreon. Our responsibllity is to read the other infornjation and. in doing so, consider whether the other information is malerially ineonsistent with the financial st21¢ments or our knowledge obtained in the course of the audiL or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misslatements. we are wuired to deterniine whether this gives rise to a material misslatement in the financial statements themselves. If, based on the work we have perfonne(L w¢ conclude that there is a materkal misstalement of this other infonnation, we are required to retK)rt that fact. We have nothing to re￿rt in this regard. OPINION ON OTHER MATfERS PRESCRIBED BY THE COMPANIES ACT 21106 In our Opinio￿ based on the work undertaken in the course of the audit: the inforniation given in the Trustees. Rwrt for the financial ￿ri￿1 for which the finanoial stst¢m¢nts are prepared is consistent with the financial statem￿ts. the Trustees. Rewrt has b¢en prepared in accordance with applicable legal r¢quirements. MAThERS ON WHtCH WE ARE REQUIRED TO REPORT BY EXCEFfioN In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit. we have not identified material misstatements in the Trustees, Repo We have nothing to reikn in respect of the frillowing matters in relation to which Compallies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kepL or retwJ)s adequate for our audit have not been received from bTan¢hes not visited by us. or the financial statements are not in a8reement with the accounting records and trturns; or certain disclosures of Truste¢s' r¢munerdtion specified by law are not made. or we have not Jyceived all the inforniation and explanations we require for our audit- or the Trustees were not entitled to preparc the fman¢ial statements in accordance with the small companies regime and take advantsge of the small companies, exemptions in pr¢poring the Trustee5' Report and from the Tequircment to prepre a S￿tegiC Re￿)rL Independent Audito¢5 Report

The Institute for Agricultu￿ and Horticulture-Annual Report and Financial St*ernents Independent Auditorfs Report to the Members of The Institute for Agriculture and Horticulture RESPONSIBILITIES OF TRUSTEES As explained more fully in the Trnsle¢s' Responsibililies StatemenL the TTUStees (who are also the directors of the charity for the purpos¢s of company law) are responsible for the preparation of the financial ststements and for being satisfied that they give a tnie and fair view. and for such internal control as the Truslees d¢termine is necessary to enable the Preparation of financial ststem¢nts that are free from material Mi￿latemen( whether due to hud or eTror. In preparing the financial statements. the Trustees gre r¢stx)nsible for assessing thc charitYs ability to continue as a going concern. diselosin& as applicable, matters related to going concern and using the going concern basis of accounting unless the eith¢r intend to liquidats the charity or to cease operalions, or have no realistic alternative but to do so. AUDITORS, RESPONSIBttKfiES FOR THE AUD￿ OF THE FINANCIAL STATEMENrs Our objectives are to obtain Teasonable assurance about whether the financial ststements as a whole are free from material misstatcmenL whether due to fraud or ermr. and to issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a gUal￿tee that an audit condueted in accordance with ISA5 (UK) will always detect 2 material misstatement whcn it exists. Mlsstatements can arise from fraud or e￿Or and are considered material if. individu811y or in the aggregat¢. they could reasonably be exp￿t￿ to influence the economic d￿l$lOnS of users tsken on the basis of these financial statements. Irregularitie4 including frdud, are inslances of non-compliance with laws and regulations. We design proc¢dutYs in line with our resp)nsibiliti¢& outlined above. to detect material misstatem¢nts in respect of irregularities, including fraud. The extent to which our procedures are capable of d¢t¢¢tin8 irregularitie& including fraud is detailed below". w¢ have considered the nature of the sector. control environment and finan¢ial perfonnanc¢ of the entity- we have conside￿d the results of enquiries with management and TTUStees in relation to their own identification and asse&sment of the risk of irregularities within the entity. and we h&ve reviewed the documentation of key proeesses and controls and performed walkthroughs of transactions to wnfimi that the systems are operating in line with documentation. As a result of these pr(xedures, w¢ hav¢ considered the opportunities and incenlives that may exist within thc organTsation for fraud and idcntificd the highest area of risk to be in relation to r¢venue recognilion. with a particular risk in relation to year-end Cut off. In common with all audit5 under ISAS (UK) we ore also required to ￿rfOrni sp￿lfIC prwedures to resp)nd to the risk of management override. We have also obtained understsnding of the legal and regulatory frameworks that the charity operates . focusing on provisions of those laws and re8ulations that had a direct effect on the det¢rniination of material amounts and disc1￿ureS in the f￿anCial statements. The key law5 and tEgulations we considered in this context included the UK Companies Act and FRS 102 and UK tax legislation. Independent Auditorfs Report

The Institute for Agriculture and HortFculiure-Annual Report and Financial Statements Independent Auditorfs Report to the Members of The Institute for Agriculture and Horticulture In additton, we considered the provistons of other laws and regu13tions that do not have a direct effect on the finxncial statements but compliance with which may be fundamentsl to the charity's ability to operate or avoid a material penalty. Our procedures to respond to risks identified included the following: r¢viewing the financial statement disclosures and testing to supwting d(Kumentstion to a￿sS romplianG¢ with prnvisions of r¢levant laws and regulations described &8 having a direct effect on the financial statements; performing analytical procedures to identify unusual or unextKcted relationships that may indicate risks of material misstatement due to fraud. reviewing board meeting minut¢ enquiring of management in relation to actual and p)tential claims or litigations- perforniing detailed transactional testing in r¢lation to thc recognition of revenue with a particular fwus around year-end cut off. and in addffssing th¢ risk of fraud through management override of control4 testing the appropriateness of journal entries and other adjustments. assessing wheth¢r the judgments made in accounting estimates are indicative of potential bias. and evaluating the business rationale of significant transactions that are unusual or outside the nornial course of business. We also communicated identified laws and regulations and ￿tential fraud risks to all members of th¢ engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit. Our audit procedures were designed to respond to risks of material misstatement tn the financial 5tat¢ments r¢cogni5ing that the risk of not detectin8 a material misststement due to fraud is higher than the risk of not detecting one resulting from an error. as frdud may involv¢ d¢lib¢rafy ¢onc¢alment by. for exampl¢, for8¢ry, misrepT¢s¢ntstions or through ¢ollusion. Ther¢ inh¢r¢nt limitations in the audit procedur¢s p¢rforni¢d and the further removed nonthcompliance with laws and regulations is from the events and transactions ￿ flected in the financial slalement& the less likely we would become aware of A further des¢riplion of our responsibilities for the audit of the financTal statemeTyts 15 located on th¢ Financial Reporting Council'5 website at: www.frc.org.uklaud1tors￿SpoThsib1E1E1Cs. This description fornis part of our AuditOTS' Report. OTHER mA￿ERs The prior year compardtive figures wer¢ not auditaL Independent Auditorfs Report io

The Institute f0rAgricu￿Ure and Horticulture-Annual Report and Financial Statements Independent Auditorfs Report to the Members of The Institute for Agriculture and Horticulture USE OF OUR REPORT This report is made solety to the charity's trustees &$ a I￿￿, in acconlance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors, Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assum¢ responsibility to anyone other than the charity and its members. &$ a for our audit worK for this repoTL or for the opinions we have forn]ed. David Butler FCA DChA (Senior Stathtory Audilor) for and on behalf of Bishop Fleming LLP Chartered Accounlants ststutory Auditors 10 Temple Back Bristol BSI 6FL Date: 22 December 2022 Independent Auditorfs Report

The Irtstrtute for A£rlculture and HorticultU￿- Annual Report and Financial Statements STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD TO 31 MARCH 2022 Unaudlted Year ended 31 January 2021 14 months to 31 M￿h 2022 Total Unrestricted Funds Restrlcted Funds Total INCOME FROM: Voluntary Income Investment Income TOTAL INCOME 2.399.298 2,459.298 19 19 60.019 2.399.298 2,459,317 EXPENDITURE ON: Charrtable acEivilie5 31,225 LIOI.805 1.133.030 554 TOTAL EXPENDITURE 31.225 1.101.805 1.113,030 554 MOVEME￿ IN FUNDS 28.794 1,297.493 1.326,287 1554} TOTAL FUNDS BROUGTr FORWARD li 3.418 3.418 3.972 TOTAL FUNDS CARRIED FORWARD 32.212 1.297,493 1,329,705 3.418 The notes on pages 15 to 20 forni an integral part of these financial statements. Staternent of Financial Artivities 12

The Instttute for A4rtculture and Horticulture- Annual Report and Financial Statements BALANCE SHEET ASAT 31 MARCH 2022 Unaudlted 31January 2021 Total 31 Marth 2022 Total Funds FIXED ASSETS Intangible fixed assets 768.156 768.156 CURRENT ASSErs Debtors Cash & cash equivalents TOTAL CURRENT ASSErs 3,366 880,717 884,083 3.366 912,929 916,295 io 32.212 32,212 3,418 3,418 CREDITORS: amounts falling due wlthln one year li 354.746 354.746 Net current assets 32.212 529,337 561.549 3,418 Net a55ets 32,212 1,297,493 1.329.705 3,418 FUNDS OF THE CHARITY Total fvnds 12 32,212 1.297.493 1,329,705 3.418 The accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act 2C*J6 relative to small companies. The financial statements were approved and authorlsed for issue by the Board of Trustees on 34...1..kQ.(.x. and si8ned on its behalf by: Trustee E D FLJrsdon The note5 on pages 15 to 20 fomi an integral part of these financial statements. Balance Sheet 13

The Institute for A8riculture and Horticulture Annual Report and Financ￿1 Statements STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 MARCH 2022 Vnaudited Yearto 31 January 2021 14 months to 31 Marth 2022 Cash flows from opernting artlvftles: Net movement in funds Ilncreasel in debtors Increase in creditors 1.326.287 13,366} 354.746 15541 Net cash inllow frorn operatlnz arti¥ilies 1.677.667 {5541 Ca5hllow from Investing activities: Purchase of intangible fixed assets 1768,1561 Net increasel(decrea5e) in osh & cash eqyivalents 909,511 15541 Opening cash & cash equNalents Movement in the period 3,418 909,511 3,972 15541 Cash and osh equl¥alents at the period end 912,929 3,418 The note5 on pages 15 to 20 form an integral part of these financial ststements. Statement of Cash Flows 14

The Institute for Agriculture and Horticulture-Annual Report and Financial Statements NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2022 Accou￿llNG POLICIES The principal accountin8 policies are summarised below. The accountlng policies have been applied consistently Ihroughoui the peri￿1 and the preceding year. General information The Institute for Agriculture and Horticulture is a company limited by guarantee. incorporated in England and Wales. The addres5 of its registered office and its registered numbers are disclosed on page l. The Charity changed its name from Agskills ￿Mited during the period. The principal activity of the charity is as the professional body for those working in the agricukiure and horticulture sector. The annual report and finoncial ststements are for the period ended 31 March 2022 (the prior annual report and financial statements were for the year ended 31 January 20211. The financial statements are presented in Sterling and this is the functional currency of the Charity. The financial statement5 are rounded to the nearest whole pound. Basls of preparatlon The financial statements have been prepared under the historical cost convention, and in accordance with applicable accounting standards. In preparing the financial statements the charityfollows best practice as setout in the Statement of Recommended Practice-. 'Accounting and Reporting by Charities, ISORP 151. the Financial Reporting Standard applicable in the Unlted Klngdom and Ireland {FR51021 and the Chartties and Companies Acts. 13 nd ac¢(buntlng General funds are unrestricted funds which are available for use at the dlscretion of the Trustees in furtherance of the general objects of the charity and which have not been designated for other purposes. The charitys general fund may be used by the charity at Its discretion to further its stated charitsble objective5. Incom• These are included in the Statement of Financial Activities (SOFA) when: the charity becomes entitled to the resources, the Trustees are probable they will receive the resources. and the monetary value can be measured with sufficient reliability. Expendlture All support tosts incurred have been allocated between charttable expenditure and governance as appropriate. Notes to the Financial Statements 15

The Institute for Agrlculture and Hortlculture-Annual Report and Financial Statements NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE PERIOD ENDED 31 MARCH 2022 ACCOUNTING POLiaES (CONTINUED) Allocation of costs All expenditure and liabilities are included on an accruals basis and recognised when there is a legal or constructive obligation to pay out resources. Flnandal Instruments The Institute for Agriculture and Horticulture only has financial assets and liabilities of a kind that qualify a5 basic financial Instruments. Basic financlal instruments are initially recognised at transaction values and Subsequently measured at their settlement value. Intsnglble fixed assets These costs representthe construction of the leaming platform and are recognised as the work progresse5. Amortisation is not charged as the plarform 15 under construction. Cash and Cash equi*alents Cash and cash equivalents are cash and short term highly liquid investments with a short maturity of three months Of le55 from the date of acquisition or opening of the deposit or similar account. 1.10 Going concem These financial statements have been prepared on a going concern basis. The Defra grant has is subject to a rigorous budgeting funrtion and the trustees and management team monitor these budgets on a monthly basis. 1.11 Judgments In applying aLYounting polldes and key sources of estlmatlon uncertainty In applying the companvs accounting policies. the dirertors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The director5, judgements. e51imates and assumptions are based on the besi and most rellable evidence available at the time when the decisions are made and are based on historical experience and other factors that are considered to be applicable. Due to inherent subjectivity involved in making such judgement5. estimates and assumptions, the actual results and outcomes may differ. The Trustees do not ton5ider there to be any significant judgements. estimates or assumptions in these financial statements. Notes to the Finanaal Statements 16

The Instriute for Agrlculture and Horticuliure-Annual Report and Financial Statements NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE PERIOD ENDED 31 MARCH 2022 INCOME Unaudited Year to 31January 2021 14 months to 31 March 2022 Unrestricted Funds Restricted Funds Donation Grant from Defra 2,399.298 2.399.298 2.399,298 2.459,298 EXPENDITURE Unaudlted Yearto 31 January 2021 14 months to 31 March 2022 Unrestricted Funds Funds Charltable acti¥ities Development of services Support costs Inote 41 Governance costs Inote 51 493.473 .332 493,473 &J8.332 31.225 1.133.030 554 31.225 31,225 LIOI,805 554 SUPPORT COSTS Unaudlted Yearto 31 January 2021 14 Months to 31 March 2022 Staff salaries and related expenses Accounting fees Business support and advi Legal fees Insurnnee 450,274 34,797 62,391 7,141 4.729 12.255 30,605 6,140 Travel. subsistence and meeting costs Computer equipment and 50ftware expensed General expenses 554 608.332 554 Notes to the Financial Statements 17

The Institute for A£riculture and Hortlcultuie- Annual Report and Financial Statements NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE PERIOD ENDED 31 MARCH 2022 GOVERNANCE COSTS Unaudited Year to 31 January 20ZI 14 months to 31 March 2022 unrestr1¢￿ Reslrirted Funds Funds Audlt fees Trustee insurance Le8al and accountin8fee5 12.¢XKI 1.574 17,651 12.1KJO 1,574 17,651 31.225 31.225 No trustee received remuneration in the period to 31 March 2022. or received reimbursed expenses131 January 2021: £nill. Trustee Indemnity Insurance was a150 in place during the period. STAFF COSTS Unaudlted Year to 31 January 2021 14 months to 31 Ma￿h 2022 Wages and salarles Social Securlty costs Penslon costs 368.638 41.922 27,421 437.981 The average number of employees for the period was 1112021.. none). The number of persons employed by the company during the period who received emoluments (including taxable benefits in kind) in the followin8 ranges in excess of £60.0(XJ was as follows- Unaudlted 2021 Number 2022 Number £70.001- £80,LKM) Total remuneration for key management personnel including pension payments totalled £291.674 for 5 posts {2021.' £nill. Notestothe Flnanclal Statements 18

The Inst1t￿e for Agriculture and Horticulture-Annual Report and Financial Statements NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE PERIOD ENDED 31 MARCH 2022 TAXATION The charity's actFvities frdll within the exemption5 afft)rded by the provisions of the Incorne and Corporation Taxes Act 1988. Accordingly. there is no taxation charge in these accounts. INTANGIBLE FIXED ASSEts Asset under construction Total Cost Additions 768.156 768.156 At 31 March 2022 768.156 768.156 Assets under constructK)n represent costs Incurred in the development of the learning platform. No amortisation has been charged as the asset is not yet in use. DEBTORS Unaudited Yearto 31 January 2021 Perlod ended 31 Marth 2022 Prepayments 3,366 io CASH & CASH EQUIVALENTS Unaudited Yearto 31 January 2021 Period ended 31 Marth 2022 Current accounts 912,929 1,558,172 Notes to the Financial Statements 19

The Institute for &riculture and Horticulture- Annual Repjrt and Financh?I Statements NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE PERIOD ENDED 31 MARCH 2022 li UA8ILmES: AMOUPITS FALLING DUE WITHIN ONE YEAR Unaudited Year to 31 January 2021 Period ended 31 March 2022 Trade credrtors Accruals Pension creditor Other credttors I89.￿8 157,785 S,985 1,968 354.746 12 FUNDS A5at 31 March 2022 31 January 2021 Income Expenditure Transfer Unrestrlcted Restrirted.. Income Capital Totsl funds 3.418 f￿.0 131.2251 32,212 1.610,814 788,484 2,459.317 11,092.037) 19,7681 11,133.0301 518.777 778,716 1,329,705 3.418 Restricted fijnds represent the amounts ￿CeiVed from Defra in respect of the grant 8iven to establish the Charity as the professronal body for agriculture and horticulture workers. The Capital reserves are represented by an A55et under Construrtion of £768,156 and Cash to be spent of £10,560. Expendrture of £9.768 on small hardware items wa5 expensed from this fund In the period in accordan￿ with the Chariws capitslisation policy. 13 RELATED PARTIES There were no related party transactions made in the period. 14 COMMtrMENTS The Institute for Agriculture and Horticutture had commitment5 of £1.8m at the period end for the completion of the learning portal which is currentty under construction. These have not been provided for in the financial statements as they are subjectto conditions being met before payment bLrt form part of the Defra Erant to be received over the forthcoming years. Notes to the Financlal Statements 20