Reglstered number: 08811248
Chorlty number: 1155563
Innovgtion for Agricvltvre
Trustees, Fieport ond Finonciol Statements
For the year ended 31 Oecember 2024
ID INS
AUDIT

Innovotion ftsr Agrlculturè
(A wmp¢Jny limited by gvarontee)
Contents
Poge
Refer•nc• and Alministrtstivè Dètoils of thè Chority. it$ Trustees ond Advisers
Chair's Statwnent
Trustees, Report
Independent Auditors, Report on the Finuncial Statements
7-10
Statement of Nnancial Actlvitles
Balance Sheet
12
Statemeni of Clish Flows
13
Notes to the Flnanciol Stgtement¥
14-32

Innovotion for Agrlculture
<A compony Ilmrted by guorontee)
Reference and Adminlstratlv• Dètails of the Chttrlty. Its Tru5te8s and Advisers
For th8 yegr ended 51 Decembtrr 2024
Trustees
P J Westawoy. Choir
D R Golbroith
P J Greudy (resigned 51 December 20241
A N F Drewett
L Morgons (appolnted 1 Moy 20241
A W Toplin (oppolnted l Moy 2024)
F Obiero (oppointed 1 Moy 2024)
M H Tvfnell {oppointed 20 Jonvory 2025)
Compuny reglstered
nvmber
08811248
Charity reg￿tered number 1155563
Règls*ered office
Ngtionol Agrlculturol Ceritre
SLoi)elelgn Pork
Kenllworth
CV8 2L2
Company secretgry
Independent uuditors
Doins Audll Limited
2 Chomberlain Squore
Poroclise Circus
Birmingho
B3 3AX
Bonkers
Barcloys Bonk PIC
I Prlnces Street
Ip5WltcFI
Suffolk
IPI IP8
SDliclt¢r$
Wright Ho55011 LLP
Olympus Avenue
Leamington Spo
Warw￿ksh1re
CV34 6BF
Page 1

Innovation for Agriculture
(A company limited by gvaruntee)
Chrjirfs Stotemènt
For thè year ended 31 December 2024
Overoll. 2Q124 wos o good year for IfA
The Charity reported a deficit of £38.321 for 2024 prlncipolly due the recrultment ol odditional members of the teom in
the finol quorter to suppon our knowledge exchonge projects.
Almost tsll of the Chority's budgeted income going Into 2024 wos secured which w05 0 great platform. However, moving
into 2025 this level of security hos been slgniflcontly reduced the focus for the year ahead will be io build on IfA's
exislirig portfolio of collaborations and build new opporiunities for income generotion. The Trustees and IfA team held a
productive Strategy Review in April 2Q25 to underpin rhe effort 10 move toward5 the next stage of IfA's development.
In oll IfA wo5 illvolved in the dellvery of 9 projects dvrlng 2024, most notably 5UPPOrting AASE with lis knowledge
exchange progromme. funded by the Esmée Foirboirn Foundotion. dissetninuling 'Farm of the Future - Journey to Net
Zero. report. IfA conducted o serles of oction groups. demtsnstmtion events ond form study tour& engaging with the
forming commvniru ocross scope and sectors. l am pleosed to report thot. wlth IfA's support, RASE was oworded o
further two yeors of funding by the Esmée F01r￿1[￿ Foundoiion commerKiw In the Spring of 2025. 1 ani dellghted thut
this portnership will continue and ollow IfA to help formers put innovoiion into practice.
The Chorily wos most groteful for the generous unrestrlcted funding received during 2024. The Esmée Foirbairn
Foundotion provided it# second Instalment of 0 3-yeor funding progrom ond The Joseph Nickerson Choritable
Foundoliori continued with their long-sionding support. On beholf ol the Boord of frustees I would like to record how
immensely groieful the Chority is for this funding.
Under the Horizon Europe urnbrella (the EU s key fundlng progromme for r&earch and innovotson) IfA continued to
5UPPOrt project DECIDE. to deliver dota-driven decision tools in the loce of dise05e emergence. along with Climate Farm
Oemo ond Climote Srnort Advlsors (under the ousrAces of UKRI) to create networks of pilot farms for demonstroiing
eli￿￿te 5mort solutions for o corbon neulrol Europe oncl 5UPPOrt the mobilisation ol the Europeon 09rlculturul ocfvi50ry
communlty In the odoptlon of cllmore proofino ogrtLilwral operotions.
I mentioned In my lost report that IfA wts5 a150 successful in becoming o prolea portner lor Lond Use lor Net Zero. Led
by the Jomes Hutton Institvle ond the UnivEf5ity of Leicester the project oims to coordinote o four-nation opprooch to
onolyse. oggregoie onrl tron51ote evidence to support policymokers ond other stokeholders to deliver tronsformoiive
choroes in lond use. ogricvliural systems ancl soil heolth ond l om pleosed to rewrt thut thi5 activity is now well under
wou.
I would like to thonk my fellow trustees for their continued support. In particulor I would like to acknowledge the lime
and effort thjt Philip Gready hos given io ihe 8oord during his two 5tint5 as Trustee. Phllp wos olso Choir of RASE and
stepped down os Trustee in December 2024 to embork on o well-deserved reiifftment. However. l om delighted to
welcome Mork Tulnell to the Board os o Trustee. Mork, who Is olso the new Chair of FIASE. brings wiih hlm o weolth of
experience from the ogricvltural sector.
Poge 2

Innovatlon for Agrtcultvre
(A compony limfted by guorgntee)
Chgivs Stutement (continued)
For the yeor ended 31 December 2024
I continue ro be Immensely proud of the work thoi ihe teom or IfA dellver& Led by our CEO. Dovld Grint. ond with the
encouragement of the Boord I look forword to deliveri￿ on the Cthrity's objectives. embarking on the next stoge of Its
slroteglc development ond supporting the tsgriculturol sector In on everchonglng londscope.
P J Weslowoy
Cholr
Dote.. 2 May 2025
Poge 3

Innovotion for Agri¢vltvre
(A compgny limited tsy guarantee)
Trustee5' report
For the yeor ended 51 Decembor 2024
The Trustees pre5Ent their unnuol report together with the audited finonciol 5totement5 of the Chorlty for the 1 January
2024 to 31 December 2024. The Annual report s¢rv¢s the purposes of both o Trustee5' report ond a directors, repon
under cotnpony law. The Trustees confirm thot the Annuol report ond finonciol srotements of the choritoble compony
Comply W￿th the current siotuiory reqvircmcnts. the reouirements ol the choritoble company's governing docvfflent ond
the provisions of the Stcrtement of Recommended Prociice (SORP) oppllcoble io charities preparing their occounts ift
occordonce with the Finonciol Reportino Stondord oppllcoble In the UK ond Republic ot Irelond (FRS102) (effective 1
Jonuory 2019).
Since the Charily qualifie5 as 5moll under section 382 of 1he Componles Act 20C16. the Strategic report requlrecl of
medium ond lorge componles under the Cornponie5 Act 2006 (Strateglc Report ond Dlrectors, Report) Reguloti()n5 2013
hos been omilted.
Objectives atKI artlvities
o. Pollcies ond oblectlves
The Trustee5 hav2 referred to the guidance contoinecl In the Chority Commission's general guidance on public benefit
when reviewing their oims ond objectlves ond In plonning their future activities. In portlcLJlor. the Trustees consider how
plonned octlvilies will contribute to the aims ond objectives they have set.
The choriioble oblecis of rhe chOr￿Y ore the odvancement ond promotion. for the publlc benefit. of 0gricultu￿ and
hortlculiure Including without limit.
o) The promotlon of svstoinoble intensificotion tsnd pfficient food production..
b) The conservotion. protection, reseorch and development of ogrlcvlture wilh portloJlar emphosi5 on the physlcol
ond natural environment. soil heolth ond eroslon. greenhouse g05 emi55ion5. diffuse pollution and blo-dlversity",
c) The advtsncement of educolion ond investment In new knowledge and di55eminotion of best formlng practices.. ond
dl The Improvement of *orm onimol heolrh ond wellore.
In Setting objectives ond planning for octivities. the Trustees hove gwen due considerotM)n to general guidance
published by Ihe Chority Commission reloting to public benefit, Including the guldonce 'Publlc benefit.. runnlng o choriiy
IP82)'.
b. Strgtegies for ochSeving objectives
The Chority was founded in December 2015 ond ot ihe end of its eleventh lull yeor ol operotion is becomlng estobli5hed
both as an entity an¢J wthin rhe morke1 londscope. During 2024 the Chority continv¢d to deliver its Soil & Water ond
P￿CisiOn Livestock proorommes ond successfully ottrocted funding to establish a new work slreom on Antibiot
reduction. which will focllitote expon¥on durlng 2025. In the mediuFn lerm the objective is to continue to roise lun(fing to
focilitote the Cfeotlon OF new oreos of OEtivity.
As on environmentol bockground to thls growth. os we enter 2025. we foce more uncertointy thgn ever before in ￿th
Europeon Union funding and in UK Government Policy. Whllst we ore in growth ond continuing to clevelop oll ol our
ork progromme5 It is cruciol thot we ore mindful of iovgher times ohetsd ond thot we continue to monoge the c05t
side of the orgonisalion prudently.
Poge 4

Innovution for A9ricvltvre
(A company limlted by gvoronteè)
Trustees, report (continuèd)
For thè uèor èndèd 31 December 2024
Objectives and octivitits (eontinued)
¢. Actlvitlès undertoken to ochieve objectives
To ochieve its choritoble oims IfA stages training events on topics covering Soil Enrlchment ond Preclsion L￿estoCk
Farming & Anlmol Welfare. When organisin9 such events it ensures thot they embroce. promote and udvonce
agriculturol education ond best practice. enable the esioblishment of nerworks for the tronsler of knowledge with the
overoll oim of contributing io the well-beiro ond prosperlty ol the Agriculturol community.
It is the Chority'5 intention that it will continue to develop and enhance its neiwork ol cigrlcultural socielles oround
Englond to improve the communicotion between ihe technicol reseorch Snstitutions ond formers reloting to ogricvliurol
ond horticulturol issues. The Chcrity hos 17 exlsting Agrlcullurol Society Metnbers ond is in discussions with additionol
regional Societi￿ which are Interested In becomiro members
d. Moin octivities undertaken to further the Chorltu's purposes for the pvblic benefit
As ideniified obove the Chority arronges troining events on topics covering Soil Enrichment. Preclsion Livestock Farming
ond ontlmicrobiol resigtonce and the oppropriate use of Antibiotics. When orgonlslng such events li ensure5 thot they
embroce. prornote ond odvonce ogricultural educolion and best proctice. to enoble ihe enhoncement ot networks for
the tron5fEf Df knowledge
The evenis leod to on improvement In onlmol welfore, soil health ond freshwater quolity.
Achievement5 ond performgnce
o. Aèvièw of activities
A review of octivities is contolned wlthln the Cholr's Stotement,
Fingnciul review
a. Golng concern
After moklng upproprigte enquiries. the Trustees have a reosonablè expectotion thot the Chority hos odequote
resources to continue in operotionol pxistence for the foreseeoble future For this reoson. they continue to odopt the
going concern b0515 in preporlng the finonclol stotements. Further details regording the odopllon of the goi￿ concern
sls con be found In the occounting policie&
b. Reserves pollcy
In the medium term. IfA asplres lo hold reserves equivolent to 50% of annual tsperotlllg C05ts ond for the Chority to
move its focu5 to generotino on increosing proportion of its income from OFerations rother thon relying entirely Dn
fund-roising from other chorities ond Institutions.
At 31 December 2024 the total free reserves omounted lo £145.767 12023 - £187.143) which ore exp8Cted to produ
negllgible Income.
Poge 5

Innovotion for Agricvlture
(A company limited by guorgnteel
Trustee5' report (contlnued)
For the yeor ended 31 December 2024
Strv¢turè. governun¢e ond mgnu9em¢nt
o. Conslltthlon
Innovotion for Agriculture (-IfA- or the "Charity") regislerecj as o choritoble compuny limited by guarantee ond was
set up by o Memorandum of Associorion on 11 Deccmber 2015. Under Section 60 of the Companies Act 2006 it is exempt
from the reqvirement to use the word"limlted- after its nome. It is registered as a chority with the Chority Commission.
A5 refleEted in the updoted Articles of AsSOClOtion effectlve from 1 June 2023. the sole finonclol member of the Chority
become the Royol Aori¢vlturol Society ol Fnolond Ichority registroiion number 209961). The member's liobillty remoins
limited as reflected in note 2.2 of these financlol stotements,
b. Methods of appointment or electlon of Trustee5
The Inillol Trustees were nomlnoted by ihe sponsoring ogrlcultuml societies. As set out In the Articles of A5soclotion, the
Choir of the 8oord ol Trustees is oppointed by the other Trustees and. a5 for all other Trustees. serves vntil he 15
reoulred io retire by rototlon ot the Annuol General Meeting. Trustees have no formal service agreement& The Boord
meets ot leost quorterly to conduct the bu51ne55 of the Charity. Two independent Trustees olso form port of the 8oord.
eoch of whom brings relevont experience to ossist the Chijrlty with the achievement of its obiettives
Disclosure of information to audStors
Eoch of the persons who ore Trustees ot the time when Ihls Trustees. report 15 approved ha5 confirmed that.
so lur os thot Trustee i5 awore. there is no relevant audit informotlon of which the chority's ovdittsrs ore unowore.
and
that Trustee h05 token oll the steps thot ought to hove been token os cl Trustee in order to be owore of any
relevont oudit Informatlon ond to estoblish thot ihe chority's auditors are aware of that informotion.
Audltors
The ouclitor& Dains Audit Limited. have Indicoted their Willingne￿ to continue In offlce, The desi9nated Trustees wlll
propose o motion reoppointing the ovditor5 Qt o meeting of the Trustees.
Approved by order of the members of the boord of Trusiees ond &gned on thelr beholf by..
P J W?5tgwgy
Choir
Dote.. 2 Moy 2025
Poge 6

Innovotion for Agriculture
IA componu limiied bu gvorontee)
Independènt Auditor¥ Report to the Member$ of Innovutlon for Agrtculturè
Opinion
We hwe uudited the finonclol siotements of Innovotlon for Agrfcvltvre (the 'chority? for the yeor ended 31 December
2024 which comprise the Statement of finonciol ocllvllles. the Bolonce sheet. Ihe Stotemeni of cosh fl()ws and the
ffeloled notes. incI￿1n9 o summory of srgnificont occounting policies The Iinonclol reportirKJ fromework thot hos been
applled in their preporation 15 opplicable low and United Kingdom Accounting Stondords. Including Finoncial Reporting
Stondard 102 'The Finonciol Reporting Stondord opplicoble In the UK and Flepublic of Irelond, (United Kingdom
Generally Accepted Accounting Proctlce).
In our opinion the flnonclol statements-.
give o irue und fair view of the siote of the chorltoble compony's olfoirs os ot 31 Oecember 2024 ond of its
ncomlng resources ond oppllcotion of resources. including its income ond expenditure for the year then ended..
hove been properly prepured in occordunce with Unite# Kingdom Generally Accepted Accounting Prottice.. ond
hove been prepared in occtsrdonce with the reouirement5 tsf the Componies Act 2006.
Basis for opinion
We conducted our oudit in accordonce with International Stondards on Auditing (u￿ (ISAS (UK)) ond applicable low.
Our reswnsibilities under those stondards are further described In the Auditors. responsibllltles for the ovdit of the
financial 5totements section of our report. We ore Ir￿ependent ol the choritoble company in accordance with the
elhico1 reovirernents rhot ore relevont to our oudit ol the finonciol gtotements in the United KiThJdom. Including the
Flnonclol Reportlng Council's Elhicol Stundord. and we have fulfilled our other ethicc51 reswngbilities In occoréance wiih
these requirement5 We believe thot the audit evidence we hove obtained is sufflcient ond opproprlate to provide a
bosis for our opinion.
Conclusions reloiing to going concern
In auditing the financiol statements. we htsve concluded thot the Trustees, use of the going concern btss15 ol occounting
In the preporotlon of the flnanclal storemenis Is appropriote.
Bused on the work we hove performed. we have noi Identified ony moterlol uncertolntles reloting to events or
conditions thot. individuolly or collectively. may cast significont doLJbt on the chorlloble compony's obilkty to continue as
u goi￿ concern lor o period ol ot least twelve month5 from when the flnorrlol siotements ore outhorised for i5sve.
Our responsibilities ond the reSpor￿1b11lI7eS of the Trustees wlth respect to ¢Joing coacem ar¢ described in the relevant
sectlons of thSs report
Poge 7

Innovotion for Agriculture
(A compony Ilmlted by guaraniee)
Indepondent Audltors. Report to th• Mèmbers of Innowotlon for Agrlcvltvre (continved)
Other Informgtlon
The orher Informotlon comprlses the Inforrnotlon included in the Annual report other thon the finoncial statements ond
¢vr Auditors, rep()rt thereon. The Trvstees ore responsible for the other informotion ¢ontoined within the Annuol repori.
Our o￿n￿On on the finonclol stotemènts does not cover the other Informotlon ond. except to the extent otherwise
explicitly stored In our report. we do not express ony form of ossuronce conclusion thereon. Our responsibilitu 15 to reod
Ihe orher Informorion ond. in doing so. consider whether the oiher inforMat￿rn Is materially Inconsistent with the
finonciol stotements or our knowle*e obiolned in 1he course of the oudii. or Oiherwise oppears to be materially
mlS5tated. If we identify such rnoteriol inconsistencies tsr opporent mcteriul misstotements. we ure required to determine
whether thi5 gives rise to o mDteriol misstoternent in the finDnciol 5totements themselve5 If. bused on the work we hove
performed, we conclude thoi there is o moteriol misstotement of thls other informotion, we ore reqvired to report thut
f(Jct.
We hove nothing to report in thi5 regord.
Oplnlon on othèr mc•tters prescribed by the Companies Aci 2006
In our opinion, bosed on the work underttsken in the course ol the oudit..
the informotion glven In the Trustee¥ report for the finonclol year for whlch the linanciol statements ore
prepored Is consistent with the flnortiol stoiements.
the Trustees, report hus been prepored in occordonce with opplicoble legol requirements.
Matters on which we ore requlred to report by exceptlon
In the light of our knowledge ond understondino of the choritable company and it5 erivironment obtolned In the course
of the audit. we hove not identified materiol mi5Stotement5 in the Trustees, report.
We have nothing to report in respect of the following matters in relotion to which Companles Act 2006 requlres vs to
report to you if. in our opinion.
odeouote accounting records have wt been kept. or return5 odeqvote for our oudf( hove not been received
from braF)ches not visited by us.. or
the financlal statements ore not in 09reemeni wirh the occounting recorcls ond retums.. or
certuin disclosures of Trustees, remuneroiion speclfSed by low ore not mtsde., or
we hove not recelvecl oll the Information tsnd explunotions we require for our audit". or
the Trustees were not entitled to prepore the financiol stotements in occordance with the small cornponkes
regime and toke odvantage of the 5moll componie5' exemptions in preporing ihe Trustees, report and from the
requirement to prewre a Strotegic report.
Poge 8

Innovatlon for Agrlculture
(A company limited by guafantee}
Independent Audfrtors, Report to the Members of Innovotlon for Agricvltvre (eontinued)
R*$ponslblllil•s ol trustèes
exploined more fully in the Trustees, responslbilltles stciremeni, the Trustees (who are olso the directors of the
chtsritoble company lor the purpose5 of compony law) ore responsible for the preparation of the finonciol staiements
and lor being sot15fied that they give a true and fair view. and for such internol cgntrol os the Trus1ees determlne is
necesstsry to enable the prewrotion of linanc￿l stotementS that ore free from moteriol mi55totement. whether due to
fraud or error.
In preporin9 the linonciol stotements. the Tru5tee5 ore reswn5ible for osse￿1￿9 the charitable compony's oblllty to
continue os o 90ing concern. disclosing, os opplicoble, motters reloted to ooino concern and vsing the golng concern
bosis of cccovnting unless the Trustees either intend to liqbldote the chorltoble compony or to ceose operotlOn5, or
hove no reallstic alternative but to do so.
Auditors. re5ponsibilitie5 for the ovdit of the finunclol stulements
OL'r objective5 ore to obtoln r-araonoble QOSU", once oboLf, whetler the fln-nci¢l stctement&V as o w￿.￿le are free irory.
rnoteriol misstotement. whether due to froucl or error, ond to issue on Auditors, report thot includes our oplnlon.
Rea50noble 055uronce 15 0 high level of assurance. but is not o ouorontee thot on oudil conducted In uccordance wth
ISA5 IUKI will alway5 detect o moteriol mlsstoremeni when It exlsts. Mlsstaternents con ori5e from fraud or error ond ore
considered moterlol If. Indlvlduolly or In the oggreoote. they could reasonotAy be expected to influence the economic
dÈtlsions of users token on the bo515 of these fingnciol stotements.
Irregulariries. 1ncluding froud. ore Instunces of non-compl￿rtce with lows and regulotions. We design proTrdures In Ilne
with our responslbllilles. outllned obove. to detect Moter￿1 misstotement5 in iespect of irregularities. including froud. The
extent lo which our procedures tsre copoblp of detecting irreguloritie% includiThJ froud Is detailed bek>w'.
Our opprooch to ideniifylng ond ossessing the risks of moterial misstotement In respect of irregulorilie& includirig Iroud
ond non-complionce with lows ond regulations, was as follows..
the senior sttstutory ouditor ensvred thot the engogement leom collectively had the oppropriote competence.
cupubilities ond skills to identlfy or recognise non-cornpliornce with opplicoble laws ond regulotions..
we Identified the lows ond règulotions opplicoble to the cornpony through discussions with directors ond other
monogement. cjnd from our commerciol knowledge on(f experience of the ¢hority sector..
we focused on speclf)c lows ond regulations which we considered moy hove o dlrect moterial effect on the finonciol
statements or the operallons of 1he compony. including the flnonciol reporting legislotion. Componles Acl 2006.
toxotion legislation. anri-brlbery. employmeni. ond environmental and health and sofety legislotion..
we ossessed the extent of compliance wlth the laws and regulation5 identified above through nKking enqulr*s ol
monogèment ond InspÈciing Iegol correspondence.. ond
identified lows ond reovlotions were communicotecl within the audit teom reovlarly ond the teom rewained alert to
Instances ol non-complionce throu¢Jhout the audit.
We ossessed the susceptibility of the compony's finoncial statements to mtsteriol misstotement. including obtolnlng on
understonding of how frovd mlght occur, by..
making enquiries of monogèment os to where they considered there wos susceptibility to fraud. their knowledge of
actuol. suspected ond olleged frovd". ond
considerino rhe inierml controls in place to mitigate risks ol fmud and non-compliarce with lows ond regulotlQn5.
Poge 9

Innoyation for Agriculture
(A company Ilmlted by guarantee)
Independent Auditor$' Report to the Members of Innovotlon for Agricvltvre (contlnued)
To oddress the risk of froud throvgh management bios ond override of contro15. we..
performed onalytical procedures to identify ony unusual or unexpected relotionship5'.
tested journol entries to identily unusuol tronsoctlons.
ossessed whether judgements and assumptions mode in determining the occountlng esiimotes were indlcotlve of
potentiol bios. ond
investigoted the rotionole behind significont or unvsuol tronsoctions.
In response to the rlsk of Irregulorities ond non-complionce with lows ond regulations. we deggned procedures whlch
Included, but were not limlted to".
ogreeing finonciol stotement disclosures to underlulng svpporting documentotion.,
reoding the minutes of meetlngs of those charged with governance.
enquiring of monogement as to octuol ond potentiol litlgtjtion ond clolms.. ond
reviewing correspondence with HMRC. relevont regulotors ond the compony's legol odvisors
Becouse of the inherent limitotions of on oudit, there is a risk thot we will not detect c]11 irreguloritles, including those
leoding to o moteriol mi5Stotement in the finonciol siotements or non-compliance wlth regulotlon. This risk increases the
more thot compllance with a law or regulotion is removed from the events ond tronstsctions reflected in the finonclol
stotements. os we will be le55 likely to become awure of Instonces of non-complionce. The risk is olso greoter reggrding
irreoulorities occurring due to froud rother thon error, as frovd involves intentional conceolment, forgery. collusion.
omission or rnisrepresentotion
A further description of our responslbllltles for the oudit ol the linonciol 5totements is located on the Flnoncial Reporting
Council's webslte at.. www.fr
rsres
ngibilities. This description forms part of our Auditors, report.
Use of our report
This report is mode solely to the choritoble company's members. os o body. in accordonce with Chapter 5 of Port 16 01
the Componies Act 2006. Ovr oudit work hos been undertoken so thot we might stote to the choriroble compony's
members those motters we ore required to stote to them In on Auditors, report ond for no other purpose. To the *ullest
extent permitted by law, we do not occept or ossume responybility to anyone other thon the choritoble compL)ny and
Its ￿Mbers. as o body, for our oudit work. for this report, or for the oplnions we hove formed.
Mark Gurney FCCA (Senior Statutory Avdltor)
for ond on beholf of
Dglns Audit Llmlted
Statutory Audltor
Chartered Accouniants
BIrmi￿h0￿
27 Moy 2025
Poge 10

Innovatlon for Agrlculture
(A compuny1Smitod by guarantee)
statemènt of fin¢Jnclal actlvltles (Incorporatlng in¢ome gnd expendltur• occovnt}
For the uear ende(131 December 2024
Unrestrlcted
furbds
2024
Restrltted
funds
2024
Totol
fvnds
2024
Totol
funds
2023
Note
Income from=
Dowiions und legocSes
Choritoble octivities
16(735
349.535
576,268
439.620
29.788
29.788
101.853
Other Income
22.7n
22.7n
183
Totul Incorne
219.294
349.533
568.827
541,656
Expenditure on..
Roising funds
Choriioble octlvities
10,900
246,815
10.800
10,800
349.533
596,548
500.964
Totol expenditure
257.615
349.533
607.148
511,764
Net movement In funds
(38.321)
(58.321)
29.892
Reconclliutlon of funds..
Ttstol funds brought forword
Net movement in funds
15
190.024
190.024
160.132
(38.321)
(58.321)
29.892
Totol fun(ts torried fgrward
15
151.705
151.705
190.024
The notes on pages 14 to 32 form part of these flnonciol sraiements.
Page 11

Innov(rtlon for Agrl¢ultvre
(A compony limited by gvorontee)
Aeglstered number: 08811248
Balonce sheet
A5 Ut 510ecember 2024
2024
2023
Not•
Flxed ossets
Tor01b￿ 05setS
Current assèts
12
5.936
2.881
Debtor5
13
64.121
160.135
Cosh at bonk ond In ho
18
161.650
174.879
225.771
335,014
Creditors". UTnounts lolling due within one yeor
14
(80.004)
(147.8n)
Net current ossets
145.767
18714
Totol net ussets
151.703
190.024
Chorlty funds
Unrestricted funds
15
751.703
190.024
Totol funds
151.705
190.024
The Trustees ocknowledge their responslbllitles for complying with the requlrements of the Att with respect lo
occountlng records ond preptsrolion of financial statements
The Ilnonciol 5totement5 have been prepored In occordonce with the provisions opplicable to entllles subject to the
smoll companies regime.
The finonciol stateNrnt5 wer¢ opproved ond outhorlsed for i55ve by the Trustees and signed on their behalf by..
P J Westaway
Chair
Oore." 2 Moy 2025
The notes on pages 14 to 32 form port of these liwnciol stoiements.
Poge12

Innovatlon for Agrlctsltvre
IA company limlted by gvorontee}
Statement of cosh flgws
For the ye(Er ended 51 December 2024
2024
2023
Note
Cg5h flows from operatlng octivities
Net cosh used operating octivStles
17
{8.302)
9.685)
Cush flows from Investing octlvltles
Proceeds from the sole of tangible fixed assets
Purchose of tongible flxed ossets
250
(5,177)
(5.019)
Net cosh used in Invèsting tsctivitles
(4.92n
15,019)
Chunge In cosh and cush èquivalents in the year
{1I229)
(22,704)
Cosh ond c05h equivolent5 Qt the beoinning of the year
174.879
197.583
Cosh ond cosh equivalents at th• ond of th• year
18
161.650
174.879
The notes on pages 14 to 32 form part of these fI￿nClu1 sioiements
Poge 15

Innovotion for Agriculture
(A componu limitèd by guorantee)
Notes to the finan¢lol stotemenls
Fvr the yeur ended 31 December 2024
G•n•rol information
Innovotion lor Agrlcultvre Is o chorltoble cotnpony incorporcrted in the United Kingdom ond registered in England
ond Woles with the Charity Commission. The oddress ol the reglstered olflce is given in the reference tsnd
odministrotive details section of these linonclol stotements. The notUTe of the Chority's gperotlons and principal
octivities are detailed In the Trustees Report.
Accounting poli¢le$
2.1 B051s ot preparotion gf fingncigl stotements
The flnonclol srotements hove been prepored in o¢¢ordonce with the c￿rItIeS SORP (FRS 1021- Accounting
ond Reporting bu Chorities." Stotement of Recommended Pract*È opplicoble lo chorities prepgring their
oc¢ounts In occordonce wlth the Flnonciol Reporting Stondord applicable In the UK ond Republic of Irelond
(FRS 102) (effectlve l Jonuory 2019). the Fintsncial Reportirig Standard applicoble In rhe UK and RepublK of
Irelond IFRS IQ2) ond the Componies Act 2006.
Innovotion for Agriculture meets the deflnltlon of o publlc benefli entity under FRS 102. Assets ond liobilitie5
are Initially recognlsed ot hisioricol cost or ironsoctlon volue unless otherwlse stoted in the relevant
occounting policy.
2.2 Membevs IILiblllty
The sole member of the choritoble cornpony undertukes tts contribute to the ossets of the company in the
event of it being wound vp whlle they ore o rnember or within one yeor ofter they ceose to be u member.
such omount os moy be required. not exceeding £10 for the debts and liobililies contracted before they
ceose to be o membpr.
2.5 Golng conc*rn
After moking oppropriate enquiries, the trustees hove o reosonoble eypeJtstion that the Churitu hos
odequote resources to continue in operational exlsience for the foreseeoble future. For this reoson they
contlnue to odopt the going concern bosls In preporing the finonciol stoiements. Further detolls re9ordl
the odoption of the going concern b051s can be found in the Accounting Policies.
Poge 14

Innovatlon for Agriculture
(A componu limited by gyarontee)
Notes to the flnonclul siotomonts
Fgr the yeur ended 51 December 2024
Attounling policies (contlnved}
2.4 Income
All income is recognised once the Charity hos enritlemeni io ihe income. it is proboble thot the Income will
be received ond the omount of income receivoble con be rneosured reliobly.
Grants are included In the Stoiemenl ol financitsl tsctivitie5 on u receivoble bcjsls. The bolonce of income
received for specllic purposes but not expended during the period Is shown In the relevont funds on the
Bolonce sheet Whert Income Is received in ￿VanCe of entitlement of receipi. lis recognition Is deferred
ond Included in creditor5 os deferred incorne. Where entitlement occurs before Income is recelved. the
Income Is accrued.
Glfts in kind donoted for distribution ore Included ot voluolion ond reeognised as income when they are
distributed io the projects. Gifts donoted for resole ore Included os income when they are wld
Where the donated good is o fixed tsssei. It is measured ot loir volve. unles5 It Is Improuicol to measure this
rel￿￿[y. In whlch cose the cost of the item to the donor should be used. The goin is recognised as Income
from donations and a correspwdlng omount Is included in the approprlote flxed asset class o
depre(￿ted over the useful economlc Ilfe in accorda￿e wlth the Charity's occouniin9 policie&
On receipt, donoled professionol 5prvice5 ond focilities ore recognised on the basls of the vclue of the glfi
to the Charltu which 15 the omount it would hove been willing to pou to obtoln service5 or facilities of
equivoleni economlc benefit on the open market,. c correspondin9 omount IS then recognised in
expendllure In the period of recèipt.
Income tox recoveroble in relotlon to donotlons received under Gift Aid or deeds of covenont Is recogni5ed
ot the ilme of the donation.
Income tox recoverobk in relotion to Investment Income 15 recognised at the time the invesiment IncoTfe 15
receivable.
Other income is recognlsed in the period In which It Is recelvoble ond io the extent the goods have been
provided or on cotnpletion of the servlce.
2.5 Expenditvre
Expenditure is recognised once there is o legal or constructlve obli(Jolion to tronsfer economic benelil to o
thlrd poriy. It Is proboble thot o transfer of economic bencfits will be requirecl in settlement ond the omount
of the obligotion con be measured reliobly. Expenditure is closslfled by octlvity. The costs of eoch octivity
ore mode up of the total of direct ct)sis ond shored costs. including support C05t5 irivolved in undertoking
each octivity. Direct costs ottrlbuloble lo u single tsctivity ore ollocoted directly lo thot octlvify. Shored costs
which contrlbute to more thon one octivity und support costs which ore nor ottrlbutoble to 0 5inole activity
iJre opportloned between those Ottlvities on o basis consistent with the use of resources. Centrol stofl cost5
ore ollocated on the bosls of tlme spent, ond depreciotion charges allocated on the portlcK) of the tssset's
use.
Poge15

Innovutyon for Agriculture
(A ¢ompony limTrted by guarantee)
Notes to the financial 5totements
For the yegr ended 31 December 2024
Accounting pollcles (conllnue¢J)
2.5 ExpèrKlitvrè (continued)
Expenditure ori ralslng funds inclvdes oll expencllture Incurred by the Chority to roise funds for Its chorlloble
purposes ond includes costs ot oll fundrolsing octNilies events ond non-ch(5ritoble trading.
Expenditvre on choriioble octSvllies Is Incurred on directly undertoking the activiti85 which further rhe
Chority's objectlveg. os well os ony 0ssOCiCted support costs.
Total expenditure 15 inclusive of irrecoverable VA T.
2.6 Tangible fixed a5set5 and deprecigtion
Tongible fixed ossets Cosllng £500 or more ore copitjlised und recognised when Ivtvre economic benefit5
ore proboble and the cost or volue of the osset con be meosvred rellobly
Tongible fixed ossels ore Inifiolly recognised tsr cost. Alter ￿cogNItIon. under the cost model. tonglble f￿ed
osseis ore meosured ol cost less occumuluted depreciotion ond any accumuloted impoirmeni losses. All
cosis incurred to bring o tongible fixed gsset into its Intended working condition should be Included in the
measuremenr of co
Depreciotion 55 Ihorged so os to ollocate the cost of tongible fixed ossets less their residuol value over their
e5tiffloted useful lives, using the straight-line method.
Depreciation 15 provided on the followlng boses..
Fixtvres ond flttings
Computer eouipment
53% stroight-line
35% 5traight-Ilne
Golns ond losses on disposc15 are deterrnined bu comparing the proceeds with ihe corrylng omovn1 ond
re recogni5ed in the Statement of finunclol activities.
2.7 Debtors
Trade ond other debtors ure rEcogni5ed at the settlement amount ofter onu trode discount offered.
Prepoyments ore volued ot the amount prepoid net of ony trode discounts due.
2.8 Cash at bufik ond in hond
Cosh ot bonk ond In hond Includes cosh and short-term highly liquid investments wlth a short moturrty of
three months or less from the d(rte of ocquisition or opening of the deposit or similor occount.
Poge 16

Innovotiorb for Agrlcvlture
(A compgnu limited by ouorontee)
Notes to the flnanclol stotements
For thè yèor èndèd 31 December 2024
Accouniing pollcl•s (¢ontinu*d)
2.9 Llabilltles ond provlslons
Liabilltles ore recognised when there is on obligotion at the Balance sheet dote os o result of o past event, it
is probable thot a transfer of ecoTr)mic bcnofit will LE required in settlement. and tho omount of Ihe
settlement con be estimated reliobly.
Llabilities are recognlsed 01 the omount thot the Chorlty ant￿ipate$ it will pay to settle the debt or the
amourit it hos received os odvonced poyments lor the goods or Services it must provlde.
Provisions ore trEosured ot the best estlmote of the omount5 required to settle the obligotion. Where the
effect of the time volve of money Is moterlol. the provlslon Is bosed on the present vclue of those omounts,
dlscounted ot the pre-tox discount rote thot reflects the ri5k5 specific to the liobility. The unwinding ol the
dlscount is recognised In the Stotement of linoncitsl octivities os o flnonce cost.
2.10 Fjnanclol Instruments
The Chtsrity only has financial ossets and flnonclol Ilobllltles Df o klnd thot quulify ¢Js ba51¢ finonciol
instrurnents. Basic financiol instruments are initially recognised ot tronsoctlon volue ond subseqvenllu
measured at their settlement volue with the exception of bonk loons which are Subsequently meosured ol
amortised cost using the effective Interest method.
2.11 Pensjons
The Chority operates a defined contribution pension scheme ond the pension chorge represents the
omounts puyable by the Charity to the fund in respect of the yeor.
2.12 Fund occountlng
GEnEf(Tl funds ore unrestricted funds which ore ovolloble for vse ot the dlscretlon of the Trustees In
furtherance of the generol obiectlves of the Chorlty and which have not been desigwred for other
purpo5e5.
Restricted funds ore funds which ore to be used In occorclonce with specific restrictions imposed by donor5
or which have been rolsed by the Chority for porticulor purposes. The cost5 of raising ond odministerlno
such funds cjre chorged ogoinst the specific fund. The aim ond use of eoch restricted fund Is set out in the
notes to the financlal stotement>
Poge 17

Inriovotlon for Agrlculture
(A company limltèd bu guarontee)
Notes io the finonciol stotements
For the yeor ended 31 December 2024
Critlcul occovntlng estimutes and oreas of judgment
Estimate5 ofKI judgments ore conllnvollu evoluoted ond ore bosecl on historlcol experience ond other foctor&
ncluding expectotions of future events that are believed to be reasonable under the circurnstonces.
Critical c*counting estirnote5 and e55vmptions'.
The Chority makes estimates ond ossumptions concerning the future. The resulting occounting estimates and
05sumptions will. by definition. seldom eqwl the reloted actual results. The estimates ond ossumplions thot hove
o slgnlflcont rlsk of covslng o moierlol odjustmenl to the currying omounts of Cssets and Ilabilities withsn the next
finonciol yeor ore discussed below.
Crltical orèas of judgment-.
Alter moking oppropriote enqvlries. the trvstees hove o reosonoble expectation that the Charity has adeqvote
resources to continue in operoiionol existence for the foreseeoble future. For thi5 re050n they continue to odopt
the going concern bosis in pi"*pot"Ino the finonciol stoiemenl& Furthei deiGils regarding the odopllon of the
going concern basis can be fovncl in the Accountino Policies.
Income from donotion5 and log¢Jrle
Unre5trlcted
funds
2024
Restrlcted
funds
2024
Total
funds
2024
Donotions
70.096
70.096
Gronts
96.659
349.533
446.172
166,735
349,533
516.268
Unresrricted
funds
2023
Restricted
funds
2C>23
Totol
fund5
2025
Donolions
115.000
115.000
Gronts
7.201
317.419
324,620
121201
517.419
439.620
Page 18

Innovotion for Agriculture
(A comp¢Jny limited bu guurantee)
Notes to the finunclol stutèments
For the year ended 51 Oecemb•r 2024
Inc¢m• from choritoblè artlvlties
Unrèstrictèd
fvnds
2024
Totol
funds
2024
Events Income
29.788
29.788
Unrestrlctèd
funds
2023
Totol
funds
2023
Event5 Income
101.853
101.853
Other Incomln9 resour¢e5
Vnrestrlcted
fund$
2024
Totgl
funds
2024
Other income
22.771
217n
Unrestricted
funds
2Q23
Totul
fund5
2023
Other Income
183
185
Poge19

Innovotlon for Agrlcvlture
(A componu limited by ouoromee)
Notes to the flnanclol st(rtèments
For the yèor ènded 310ÈtèmbÈr 2024
Expendlture on roising fund5
Costs of raisin9 voluntary Income
Unr•strlct•d
funds
2024
Totol
funds
2024
Consultancy
10.800
10.800
Unrestricted
funds
2023
Totol
funds
2023
Consultancy
10.800
10,800
Poge 20

Innovation for Agriculture
(A compony limited by guorontee)
Notes to the finonciul statements
For the year ended 31 D•cember 2024
Anolysls of expendlture by actlvitles
Adlvltles
undertaken
dlrectly
2024
Support
costs
2024
Total
funds
2024
Choritoble octivlties
495J42
101,006
596.348
Activlles
undertoken
directly Support costs
2023
2023
Totol
funds
2023
Charitable actlyities
416.068
84.896
50CI.964
Analy$Ss of dlrect C05t5
Total
funds
2024
Totol
funds
2023
Stolf cgsts
429.579
572.821
Professional fees
31.121
20.192
Events costs
34.642
23.055
495.342
416,068
Poge 21

Innovatlon for Agrlcvlture
(A compony limited by guorantee)
Note5 to the fingnciol stgtements
For the yeor ended 51 December 2024
Anolysis of expenditvre by ottivitles (continved)
Analysls of support costs
Tota
funds
2024
Total
funds
2023
DepreC￿tIOn
Travel and svbsistence
1.985
1.029
43.106
30.686
HR costs
4.898
4,115
8onk chorges
Advertising and morketino
Telephone
Insurance
l215
1.308
5.994
11.357
2.242
2.986
2.769
1.772
IT contracts
5.657
4.649
Prlnting. postoge (Jnd 51otlonery
Subscriptions
594
103
2.873
3.538
Fient
5.000
5.000
Foreign exchonge differences
Irrecoveroble VAT
08}
18,452
18,1851
21,520
Governance costs
8.459
7.218
101.006
84.896
Avdltor's remunerutlon
2024
2023
Fees w JL oble to the Charity's auditor for the audit of the Chorltu's onnuol
flnonciol stotementS
4400
5.950
Poge 22

Innovatlon for Agr&culture
IA compony limlted by guorontee)
Notès to the fÉnancial stotements
For the year ended 31 December 2024
10.
Siaff costs
2024
2023
Wages ond solories
Social security costs
389.817
357.433
30.628
26.457
Pension costs
9.134
8,931
429.579
372.821
The overoge number of persons employed by the Chority during the yeor wos 05 follows".
2024
2023
No.
Staff
11
io
No employee received remvnerorion omounting to more than £60.000 in alher geor.
Key manooement personnel ore deemed t<) be those hoving outhority and responsibility delegoied to them by
Ihe Chorltu for plonning. directing ond controlling the activitie5 of the Chority. During 2024 the totul omounts
pold to key monogement personnel were £NII (2023- £NII).
Tru8lee8' remunerotlon and *X￿#SÈs
Dvrin9 the yeor. no Trustee5 received uny remunerotlon or other benèfits (2025- £NIL).
During the year the Chair of the Trustees provided his service to the chority VIO 0 Service controct to facilitote
fund-raising efforts. Dvring the yeor the Choir was paid £10.800 (2023 £10.8OQ).
The Chority took ovt Professional Indemnity Insurunce however the premlum cost is not separotely identifloble
wlthln the ovÈroll in5uronce packoge. This cover protecis the Chorlty from 1055es arising from the negled or
default of Trustees ond seconded employees. It olso Indemnlfles the Trustees or other officials agalnsi the
consequences of ony neglect or defoult on their part.
Poge 23

Innovatlon for Agriculture
{A compony limited by gv¢Jrgntee)
Notes to the financial strstements
For the year ended 51 December 2024
12.
Timgibl¢ fixed ussets
Flxtures and
fittlngs
Computer
•qulpment
Totol
C05t
At l January 2024
Aéditions
1.530
15.097
16.427
4.533
5.177
D15posoIs
(617)
(617)
At 31 December 2024
1.974
19.013
20.987
Depre¢lgtion
At l Jonuory 2024
Chorge for ihe yetsr
On disposols
1.330
12,216
13.546
107
1.878
1.985
(480)
(4BO)
Al 51 December 2024
1.457
13.614
15.051
Net book value
Al 51 Oecember 2024
537
5,399
5.936
At 310ecember 2023
2.881
2,881
Page 24

Innovaiion for Agrlevlture
(A company limlted by guuronieè)
Notes to the financial statements
For the year ended 31 Dètember 2024
15.
Debtors
2024
2023
Trode debrors
6.956
Anitsunts owed bu group vndertokinos
Prepaymellt5 ond occrued income
21
13.207
67,252
50.914
85.927
64.121
160.135
Amounts owecs by group undertokings ore unsecvred. Interest free. hove no flxed dote of repoyment and ore
repayrjble on demond.
14.
Creditors.. Amounis fallSng due wlthin one yeur
2024
2023
Trode creditors
15.721
1,894
her ioxotion und soclol security
Oiher cre(Ji10rs
23.174
41.861
34,210
6.899
54.246
Accruols ond deferre0( Income
49,870
80.004
147.8n
2024
2025
Deferred income ot 1 Jonuory 2024
Amounts releosed from previous perk)ds
41.138
124.765
{40.63n
185.624
501
41.138
eferred Income relcrtes to gront funding for whlch condltlons and deliverables had not been met ot the bolance
sheet dote.
Poge 25

InngVQtlon for Agritultu
(A compgny Ilmlted by guarontee)
Noies lo the finoncial statements
For the year endèd 51 Dècembèr 2024
15.
Statement of fvn¢Js
Statement of fvnds - current yeor
Balonce ut 1
Jonuary
2024
Bolonce ot 31
De¢embef
2024
Income
Expenditvre
Unrestrlcted funds
Generol funds
190.024
219.294
(257.615)
151.703
Rèstrictèd fund5
H2C120 - DECIDE
13.319
(13.319)
(82,60T)
(5(584)
(2.$73)
H2020 - CliiriC]te Forrfi Demo
82.607
H2020 - Clirnote Smort Advi50r5
56.584
Dulverion Trust
2.573
Elizabeth Creak
5&805
(36.805)
012.806)
(2.825)
Form OE the Future
111806
Fronk Porklnson Trust
2.825
10,120
Colf Action Network
00.120)
VKRI- LUNZ
31.894
(31.894)
349.555
(549,533)
Totol of funds
190.024
568.827
(607.148)
151.703
Ptsge 26

Innovotion for Agrlculture
(A tomptsny limtted by guorontee)
Notes to ihe fin¢Jncial 5tsJtements
For the yèor ended 51 December 2024
15.
Slotement of funds (continued)
Stotèmènt of fvnds- prlor yeor
Bolance ot
l January
2023
Balance ot
31 December
2023
Income
Expendlture
Unr¢5tricted funds
Generol funds
160.132
224.237
(194.345)
190.024
Restrlctèd fvnds
H2020- FAIRShore
50.619
(50.619)
H2020- DECIDE
13.010
05.010)
H2020 - Climote Form Demo
56,721
(56.721)
(9.583)
H2020 - Climate Smart Advisors
9,583
Dulvertofj Trust
31,497
(31,497)
g8,360)
Elizobeth Creok
38.36C>
Farm of the Future
111.gQ8
(111.908)
(s.n1)
F¥onk Porknnson Trust
5,721
317.419
517,419)
Total of funds
160.132
541.656
1511.764)
190.024
Puge 27

Innovution for Agrlcvlture
(A company limltèd by guorantèè)
Notès to thè financial statements
For thè yeor ended 31 December 2024
15.
5totement of funds (continued)
Pvrpose of restrlctèd funds
HDrSzon 2020- FAIAshare= (Dlgitul Tools for Form Advlsors}
Funded by the Evrr)peon Commlsslon under the Horizon 202D initiatwe ond led by Teogosc, Ihe Irish Agrlculture
oncl Food Development Authority. FAIRshore wa5 a project that brought together 22 portners from 15 CDLJntr￿s
ocross Europe. The 5-yeor project enabled ond empowered the independent form odvisory communlty. Through
the shorlng of digitol tools ond serviceg. expertise ond experlences IfA led on the Leamings from the odoptlon
of new Digital Agr￿ulture Tools & Services (DATS) element of the project which wos completed in Q4 2023 with
the EU finol review meeting. in Jonuory 2024
Horizon 2020- DEODE
This project is o five-yeor Horizon 2020 project which commenced in 2021 ond will develop doto-driven decision
SLJPPOrt iools thot offer robvst and early signo15 Qf diseose emergence ond optlons lor diugnostic conflrmotion
Optlons will be provided for controllino the diseose olong wlth their implicati0fjS In terms of diseose spreod.
economic burden and animl welfure. IfA h05 Successfully conducted the pilot focus oroups for the UK which
ore now considerecs among the core foc¢Js groups in the cotlle cluster ond IfA is expectlng to contribute to the
pilots (cottle living lobs) which will test on the ground. the diognostic tools for eorly diognose of herd diseoses.
Evoluotitsn of the rriatrix of tools thot connects the iools. specie5, countries will be flnalised in the next lew
months to explore woys to ctslloborute ocross species or countries. Next Generol Assembly meetlno will be
hosied by INRAE in Nontes IFR).
Horizon Europe- almote Farm Demo
Thls seven-yeor project comrYEnced in Q4 2022 cFnd lis objeciive is to build o Evropean-wSde network of pilot
forms Implement and defflonstrcrte climate smurt solutions for o carbon neutral Europe. IfA hos the role of
noiionol coorclinator lor the VK network supervlsing and organising the form related ocrivilles ot nationol kvel
nd coordintriinq the UK forming network& IfA Is olso leading the themotr nerwork on herd monagement A
netWOTk of 130 demo lorms wlll be estoblishecf across the UK of which IfA will recrvlt c45 form& These forms wlll
5howcose best-practlce in cllmote smort forming. h05ting demonstrotlon event5 for the wider formlng
community. to shore their experiences of implementing climote odoption ond mitigation meosures. Oemo
formers wlll receive support from a cllmote smori odvisor, ond they will work together to produce a climate
adoption ond mitigotion plon which is toilored ro thelr own forrn business.
Horlzon Europe- Climate Smort Advisors
This project IS O Sister progromme to ClSmoie Form Demo ond hos *ven-year Ilfe spon to mobilize the
Europeon ogrlcultvrol advlsory community. leoding to on occeleroiion of the udoption of cllmole smtsrt formlng
proctices by the wider forming community. Climote Smort Advlsors commenced in Q2 2025 ond will b005t the
role ol ogriculturol odvisoru service5 by strengthening their capocity in providing torgeied adv￿e. ond by
implernenting the opproocheg ond Shoring the solutions developed by Cllmate Form tkmo on a wider scole.
ocross Europe ond associated covntries. In figures, the project will directly engoge with o minimum of 1.500
odvisors- 140 to be troined cs Cllmote Smttrt Cooches. equipped to support copocitu bulldlno In their peers. ond
1.360 supported in their development as Climote Smort Advisors.
IIA Is the NatiQno1 Coordinclior for the UK, leadi￿ on extended group of flve project partner5 includlng
Scotlond'5 Rurol College (5RUC) Department of Agricultvre. Environment ond Rurol Afltsirs, Nl (DAERA) too.
IfA will be responsible for 6 Communities of Proctice ond wlll recruit and train a total of 36 odvisors who will
support the forms toking port in the Climote Form Oemo project with climate prooflno their businesses.
Poge 28

Innovatlon for Agriculture
(A compuny limited by guorontee)
Notes to the financial stotfrments
For the yegr ended 31 December 2024
15.
Statement ¢f funds Icontlnued)
The Dulverton Trust
The Dulverton Trvst htsve funded 1 years. worth of knowledge exchonge progrommes focusing specificolly on
woys formers cun reduce greenhouse gos emisslons. This will include one lorge technical eveni ond the
developrnÈnt of ) focus group which consists 018 forfflers meeting reg4Jlorly to disCU5s mltl9ation strotegles.
Ellzabeih Creak
The Elizobeth Creok Choriitsble Trust oworded funding lor 0 1-year programme which works to brlng together
formers ond polic¥ moker5 to collectively tockle problems and to work together in the development of future
policy. Thls wlll include 3 separote groups focvslng on 5 clilferent chollenges foclng the agriculturcjl sector.
The Fronk Purkinson Agri¢ulturol Trust- Nltrogen Rodvttion
This gront Wa5 oworded to ¢evelop o community of practice where o group of lormers cotTie together.
focilitoted by IfA. to oddress woys in which Ihey might reduce ortificiol nitrogen reduction on form This Includes
online discusgons ond in person farm wolks ond stvdy tours. The project 15 expected to be ctsmpleted in June
2024.
Farm of the Future
The form businesses of the future must opllmlse food production. farm profltobilltu. roking core of the
envlronment ond people. The RASE Form of Ihe Future initiotive. supported by the Esmée Foirbairn Foundoiion.
which Is delivered in partnership with IfA. identifies ond shores ogrKulturol solutions, technologies ond prottices
which c(Jn help form bvslnesses. people ond wider communities to thrive. The inltiotive began with the
publication of the RASE Form of the Future." Joumey to Net Zero report in 2022. which set out o vislon for how
*arm bvslnesses In the UK could malntoln their prlmory purpose of food production while respondlrg ro the
cllrwte crlsls ond biooliversity los
Calf Acilon Network
The Colf Action Network (CAN) is o Working Group under the G8 Colf Strotegy initiotive and since December
2022. the group has met online quorterly. To date. the network hos conducted a survey to understond the needs
and Interests of different stokeholder groups. ond technicol expert members hove contributed to an onllne
ponel dlscusslon webinor ols port of GB Colf Week to oddre&g confusion oround colf feeding The CAN embles
colloborotlon ot o pre-competilive level ond creoles a direct link between reseorch. industry ond proctlce 10
IdentSfy key neecls with tsgcsrcls to calf monogement, seeking to chomplon applied reseorch whlch provldes
procticol Inslghls for formers ond veterinarlons cjnd cuts through commercial bia&
VKAI- LUNZ
The Lond Use for Net Zero. Noture ond People (LUNZ) Hub is an innovotive research initiotive ihot will help drive
the tran5formotion of UK lund use needed to achieve nei zero by 2050. The objectlve of the Land Use for Net
Zero (LUNZ) Hub Is to eqvip UK policy-makers. indvsiry. clvil society and communities with the evidence they
need to drive Iron5formotitsnol change In lond use The Hub. consisting of o consortium of 34 orgonisotions.
including reseorch institutes, farmers groups. odvi50ry Servi￿5. no)n-governmeniol ond orts organisotions. is led
by the Jomes Hutton Institute and the University of Leicester.
Poge 29

Inntsvatlon for Agrfculture
(A companu limtted by guarantee)
Notes to the fsnoncsol statemenls
For the yeor ended 31 December 2024
16.
Analysis of net assets between funds
Anglysis of net g5sets between funds- current period
Unrèstrlcted
funds
2024
Aestrlcted
funds
2024
Total
funds
2024
Ton9ible flxed ossets
Current ossets
5.936
5.936
225.270
501
225.771
Creditors due within one year
(79.503)
(501)
(BO.004>
Totol
151,703
157.705
Analysis of net assets b•twè•n funds- prior pèriod
Unrestrlcted
fvnd5
2023
Restrlcted
funds
2025
Tot¢Jl
funds
2023
Tangible fixed Osset5
Current assets
2.881
2.881
241,546
{54.203)
93,668
335.014
Creditors due within one year
195,668)
(147.871)
Totol
190.024
190,024
Poge 30

Innovation for Agriculture
(A compony limlted b¥ gv¢Jrontee)
Notes to ihe finondol statements
For the yeor ended 51 December 2024
17.
Reconclllotlon of net movement In funds to net cash flow from operailng ortlvttles
2024
2023
Net income for the yeor (os per Siotemeni of FIn0￿10[ Activities)
8.321)
29.892
Adlvsiments for..
Depreciotion chorges
Surplus on the sale ol flxed assets
Decreose in debtors
1.905
1.029
015)
96.014
28,818
Decre05e in creditors
(67.867)
(79.424)
Net tosh used Sn operotlng octlvstles
(8.302)
J9,685)
18.
Analysis of cosh ond cash equlvalenis
2024
2025
Cash ot bonk
128.996
122.348
Cash held for grcjnts
52,654
52.531
Totol cosh and cash eqvlvalents
19
161.650
174,879
19.
Anolysls of chonges in net debt
At31
December
2024
At l Jonuury
2024
Cosh flows
Cosh ot bonk and in hond
174.879
05.229)
161.650
Poge 31

Innovatlon for Agriculturè
(A company limitèd by guarontèe)
Noies to the finonciul stotements
For the ueor ended 51 December 2024
20.
Pénsitin commitments
The Choiity operate5 a defined contributions pension scheme. The rFsse15 of the scheme ore held seporotely
from those ol the Charity In an independently odministered fund. The pension cost charge represents
contributions payoble by the Chority to the fund ond omounted to £9.134 Q025 - £8.931). Coniributions tolalling
£1.543 {2023 £1.102) were poyable to the fund ot thè balonc& sheèt date ond ore included in creditors.
21.
Aelated porty transactions
During the year. the Charity wos chorged £48.510 {2023- £66.7591 for rent ond office runni￿ costs by the Royol
Agricvlturol Society of England. the immediote ond uliimoie pcjrent.
The Chority recharged a total of £221,317 to the Rouol Aoricvlturol Society of Englond. This reloted to salory
rechorges of £11,873 12Q123 - £34.925) and specific chorges relcsting to projecis outsourced to the Charity ol
£209.444 {2027 _ £179.9421
At ihe balance sheet date. o net bolonce of £13.207 was due from the Royol Agriculturol S(Kiety of Englond
{2023- £67,252).
22.
Controlling party
The sole finonclol member of the Chorlty is rhe Royol Agrlcultvrol Society ol Englond. The Charitu Is ultlmotely
controlled by the Trustees of the Royol Agriculivrol Society of England.
Poge 32