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PROCESSORS AND GROWERS RESEARCH OAGANISATION
(A company Ilmlted by guar•nlee)
TRUSTEES. REPORT (copTnNUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
informal*)n.
The Trustees are res￿nsIble lor the maintenance aThY integrity of the eoryx)rate financial information
included on the charitak￿e companls website. Legislation in the United KIn￿10M goveming the preparation and
dissemination of fina￿la1 slalements may diller from legislation in other jurisdictions.
INDEPENDETr￿ AUDrroRS
Whttings LLP has indicated its ￿1]ingneSS to continue in office, and as such is deemed lo ¥e-appointed under
section 487121 ol Companies Act 2(￿.
The Trustees approve the Trustees, Rewrt, incorporating the strateg￿ Report and financial sL7tements which
are signed on behatf of the Board ol Iwslees ol Processors and GToweTS Research Organisation
Approved by order
I the members of the board ol Trustees aThJ swJned on their behall by.
Trustee
Date.. i io
Page 9

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PROCESSORS AND GROWERS RESEARCH ORGANISATION
{A company limited by guarantsel
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PROCESSORS AND GROWERS
RESEARCH ORGANISATION ICONTINUEDI
Us• of our report
This report is made solety lo the charitalJe companY$ members, as a bc*Jy, in aC￿dan¢* with Chapter 3 of Part
16 of the Cornpanies Act 2006. and to the charrtable companls trustees, as a body. Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the
charitable CL)mpany's members those matters we are required to stale to them in an auditors, rekx)rt and for no
other purpose. To the fullest extent permitted by law. we do not accept or assume responsibilrty lo anyone other
than the charitable company arKI its members, as a body. for our audit work, for this report. or for the opinions
we have forned.
Mark Haydon BA CA Isenlor statutory auditoo
foi and on t)ehalf of
Whitings LLP
Raleigh House
14C Compass Point Business Park
Stot*s Bridge Way
Sl Ives
Cambridgeshire
PE27 5JL
Dale.. ?l -9 -
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|---|





PROCESSORS AND GROWERS RESEARCH ORGANISATION
(A company limlled by guarantee)
REGISTERED NUMBER: (M￿7232
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2021
2021
2020
Flxed assets
Tangible assets
Investments
15
16
346,251
1J80.566
355.662
1.099, 104
1,726.817
1,454,766
Current assets
Debtors
Gash at bank and in hand
17
433.002
697.200
550,031
1,119.715
1. 130,202
Creditors- amounts falling due within one
year
18
(257,363>
I271.￿)
Net current assets
862,352
859, 149
Total ar￿et$ less currgnt liabilities
2.589,169
2,313,915
Net assets excluding pension asset
2W.169
2,313,915
Total net assets
1589.169
2,313,915
Charlty funds
Restricted funds
UnTestricled funds
2589,169
2.313,915
Total funds
589,169
2,313,915
The Trustees acknowledge Iheir Tesp)n&bilthes tor compl￿"ng wth the requirements of the Ael with respect lo
accounting records and prepar*ion of linwKial statements.
The linancial statements have been ryepared in accordance wilh the prowsions applicable lo entities subject lo
the Sm￿1 c£)mpanies regime.
The financial slalements were approved and authorised for issue by the Trustees and Sign￿ on Iheir beham by..
Trustee
Date.. Iw 102W-
Page 15

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
REGISTERED NUMBER: 00567232
CONSOLIDATED BALANCE SHEET ICONTINUEDI
AS AT 31 DECEMBER 2021
The notes on pages 20 to 43 form part of these financial slatements.
Page 16

PROCESSORS AND GROWERS RESEARCH ORGANISATKIN
(A company limited by guarantee)
REGISTERED NUMBER: C￿7232
COMPANY BALANCE SHE
AS AT 31 DECEIABER 2021
2027
2020
Flx8d assets
Tangible assets
Investments
15
346.251
1,380A66
355,662
1,099. 104
16
1,726017
1,454,766
Currgrf agsets
Debtors
Cash at bank and in hand
17
623W5
774,424
376. 115
1.111534
1. 150,539
Credftors= amounts falling due within one
year
18
(335,085)
1291,390)
Nei ourrent assets
859, 14S
Total assets less currem liabilllles
2.313,915
Net assets excluding pension ass8*
1504,266
2,373,915
Total net assets
2￿￿4,266
2.313,915
Charfty furKIs
Flestricled lurKIs
Unrestricled funds
2.504266
2,313.915
Total lunds
1504.266
2.313,915
The Companvs net movement in furKls for the year was £190,351 (2020- £(364,080)).
The Trustees acknowl&Jge Iheir res￿￿sibIlIthes for complying ￿￿th the Tequirements ol the Act wth respect lo
accounting records arKI preparalton ol financial statements.
The financial statements have prepared in aC￿rdance wtth the Provisions applicable to enlities subject lo
the small companies regime.
The linancial stale
ents were approved and aut￿rISed lor issue by the Trustees and signed on their behalf by:
Trustee
Dale.. i i+￿ IOZ
Page 17

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
REGISTERED NUMBER: 00567232
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021
The notes on pages 20 to 43 form part of these financial slatements.
Page 18

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2021
2021
2020
Cash flows from operatlng actlvftles
Nel cash used in operating acts"vits"es
4,611
(T9,962)
Cash flows from Investing adivlties
Dividends. interests and rents from investments
Purchase of tangible fixed assets
Purchase of investments
Investment managers fees settled
45,475
150.610)
(150.000)
3.356
51,636
(38,920)
Net cash (used in)Iprovided by investing activities
{151,779)
12,716
Cash Ilows from financing activilies
Net cash provlded by financlng actlvllles
Change in eash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
(147.168)
697.202
{67,2461
764,448
Cash and cash equivalents at the end of Ihe year
550.034
697,202
The notes on pages 20 to 43 forTll part of these financial statements
Page 19

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
General inforn)ation
The Charity is a company limiled by guaranlee and is registered with the Charity Commission (Charity
Registered Number 2840771 and Registrar of Companies (Company Registration Number 005672321 in
England and Wales.
The address of the registered Offi￿ is given in the Charity information on page 1 of these financial
statements. The nature of the Chariws operaDons and principal activity is the provision of scientific
research in relation to legume crops.
In the event of the Charity being wound up. the liability in respect of the guarantee is limited to £2 per
Member of the Charity.
A￿OUntIng polici8s
2.1 Basis of preparation of financial sL*ements
The fin8ncial statements have been prep8red in ac￿rdanCe with the Charities SORP IFRS 1021
Accounting and Reporting by Charities= Statement of Recommended Practi￿ applicable to charities
preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Processors and Growers Research Organisation meets the definition of a public benefit entity under
FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless othetwise
ststed in the relevant accounting policy.
The consolidated statement of financial activities ISOFAI and consolidated balance sheet consolidate
the financial ststemenls of the Company and sts subsidiary undertaking. The results of the subsidiary
are consolidated on a line by line basis.
The Company has taken advantage of the exemption allowed under section 408 of the Companies
Act 2006 and has not presented ils own ststemenl of financial activities in these financial slatemenls.
2.2 Going concern
The financial statements have been prepa￿ on a going concern basis. The Trustees have
considered relevant infomiation, including the annual budget. forecast future cash flows and the
impact of subsequent events in making their assessment. In response lo the COVID-19 pandemic,
the Trustees have performed a robust analysis of forecasl future cash flows taking into account the
potential impact on the business of possible future scenarios arising from the impact of COVID-19.
This analysis also considers Ihe eff￿tiveness of available measures to assist in mitigating the
impact.
Based on these assessments and having regard lo the resources available to the entity, the Trustees
have concluded that there is no material uncertainty and that they can continue to adopt the going
concen basis in preparing the Trustees Report and accounts.
Page 20

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting policies Icontinuedl
2.3 Income
All income is recognised once Ihe Charity has entiuement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably. Income is
recognised exclusive of Value Added Tax and trade discounts.
Membership fees are recognised when the Charity has entiuement to the income.
Rent and meeting income is rewgnised when receivable.
Levy income is recognised when r￿1Vable, the level of charges reviewed annually by reference
to work done.
Research and technical income. technical servi￿$ and publications income is recognised by
reference to work done.
Revenue grants are credited as in(x)me when they are receivable provided conditions for receipt have
been complied with, unless they relate to a specified future period, in which case they are deferred.
With regard to EU True Project and EU Leg Value grant income. such income is recognised in line
with related expenditure as per the terms of the grants.
Income tax recoverable in relation to donations received under Gtft Aid or deeds of covenant is
recognised at the time of donation.
Investment income is recognised when received and comprises interest on fixed interest securities
and bank depostts and dividend income receivable.
Other income is re(x)gnised in the peri(xJ in which it is receivable and to the extent that the goods or
serwces have been provided.
Income lax recoverable in relation to inve5trnent incorne is recognised at the time the investment
income is receivable.
Other income 15 recognised in the peri(xJ in which it is receivable and to the extent the goods have
been provided or orb completion of the service.
Page 21

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting policies Icontinuedl
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the tolal of direct costs and shared costs, including support costs
involved in undertaking each acbvity- Direct costs attribulable to a single acb'vity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support wsts which are
not attributable to a single activity are apportioned belween Ihose activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Support costs are those costs incurred diredy in support of expenditure on the objedives of the
Charity- Support costs have been allocated to each actiwty on the followng basis, based on an
estimate of staff time spent on each ackn"vity:
Research and development 72.06¥0 {2020: 70.27%)
Knowledge transfer 27.94°l12020= 29.73 /fy)
Governance costs are costs incurred in connectioTr the administration of the Charity and
compliance wlh constitutional and statutory requirements.
Research and development expenditure is recognised as an expense in the period in which it is
incurred.
Al expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Group,. this is normally uw)n notification of the interest paid or payable by the institution
with whorn the funds are depostted.
2.6 Taxation
The Charity is considered to p8SS the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of 8 ch8rit8ble cornpany for UK corporation tax purposes.
Accordingly, the Charity is potentially exempt from taxation in respect of income or capitsl gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the T8xalion of Chargeable G8ins Act 1992. to the extent that such income or gains are
applied exclusively to ch8ritsble purpM)ses.
Page 22

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting policies Icontinuedl
2.7 Tangible fixed assets and deprKiation
Tangible fixed assets costing £500 or more are capitslised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate
that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying
value of fixed assets and their recoverable amounts are recognised as impairments. Impairment
losses are recognised in the Statement of Financial Activtties.
Depreciation is charged so as to all(Thte the cost of tangible fixed assets less their residual value
over their estimated usefijl lives. using the straight-line method.
Depreciation is promded on the following basis..
Long-term leasehold property
Plant and machinery
Motor vehicles
Office equipment
Computer equipment
Site development
Over the lrfe of the lease
15.￿ on cost
200kn on cost
15.kn on cost
300kn on cost
100kn on cost
2.8 Investments
Fixed asset investments are a form of financial instrument and are initially recognised al their
transaction cost and subsequently measured at fair value at the balance sheet date, unless the value
cannot be measured reliably in which case it 15 Measured at cost less impairment.
Investment gains and losses, whether realised or unrealised, are combined and presented as
'G8insIILossesl on investments, in the consolidated statement of financi818Ctivities.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after 8ny trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-tem) highly liquid investments WTth a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 23

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting policies Icontinuedl
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to setue the debt or
the amount it has received as advanced payTnents for the gcx)ds or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the lime value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rale that reflects the risks specrfic to the liability. The
unwinding of the discount is recognised in the consolidated statement of financial activities as a
finance Cost.
2.12 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are inikn.ally recognised at transaction valLJe and subsequently
measLJred al their setuement value wrth the eX￿ptIon of bank loans which are subsequently
measured al amortised cost using the effective interest meth(xl.
2.13 Operating leases
Rentals paid under operating leases are charged to the consolidated statement of financial aclivrf(ies
on a straight line basis over the lease term.
2.14 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Group to the fund in respect of the year.
2.15 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Group and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes lo the financial
ststements.
Restricted funds are funds which are to be used in accordance with spectfic restrictions imposed by
donors or which have been raised by the Group for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 24

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting policies Icontinuedl
Critical accounting estimates and areas of judgement
Eslimales and judgements are continualty evalualed and are based on historical experience and other
factors, including expectstions of future events that are believed to be reasonable under the
circumstances.
Critical accounting estimates and assumptions..
The Charity makes estimates and assumptions ￿n￿rnIng the future. The resulting accounting estimates
and assumptions will. by definition. seldom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a material adjustment to the carrying amounts of
assets and liabilities within the next financial year are as follows..
Expected lrfe of tangible fixed assets
- SupFX)rt cost allocation
The Trustees consider that the expected useful lives of tangible fixed assets and support cost allocations
are appropriate.
Page 25

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Analysis of income from charitable activities - by type
Unrèstrict
funds
2021
Restrieted
funds
2021
Total
funds
2021
Total
funds
2020
Membership & levy fees
Grants receivable
Technical services & publications
Research & technical income
700.102
700.102
110.951
14,485
710
539,501
133,893
10, 105
3,764
110,951
14.485
710
715.297
110,951
826.248
687,263
Total 2020
553,369
133,894
687,263
Analysls of Income from charltsble actlvltles - by a¢tlvlty
Unrestricted
funds
2021
Restricted
funds
2021
Total
fund5
2021
Total
funds
2020
Research and development
Knowledge transfer
515,412
199.885
79.947
31,004
595.359
230.889
508,865
7 78,398
Total 2021
715.297
110,951
826,248
687,263
Total 2020
553.369
133,894
68T,263
Income from other trading activities
Income from non charitable Irading activilies
UnrestrScted
funds
2021
Total
funds
2021
Trading subsidiary
452,126
452,126
Page 26

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Investment income
Unrestrieted
funds
2021
Total
funds
2021
Total
funds
2020
Income from local listed investments
Investment income- local cash
45,436
36
45.436
36
51,442
194
45,472
45.472
51,636
Total 2020
51,636
51,636
Other incoming resources
Unrestrlcted
funds
2021
Total
funds
2021
Total
funds
2020
Other income
1,094
1.094
3,118
Total 2020
3,118
3,118
Expenditure on raising funds
Other trading expenses
Unrèstrietèd
funds
2021
Total
funds
2021
Charity trading expenses
367.222
367,222
Page 27

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
10.
Analysis of expenditure on charitsble aclivities
Summary by fund type
Unrèstrietod
funds
2021
R•striet•d
funds
2021
Total
funds
2021
Total
funds
2020
Research and development
Knowledge transfer
477.492
228.725
75,239
35,822
552.731
264.547
702,277
246,549
706,217
111,061
817.278
948,826
Total 2020
683, 700
265, 126
948,826
11. Analysis of expenditure by activities
Activities
undertaken
directly
2021
Support
osts
Total
funds
2021
Total
funds
2020
2021
Research and development
Knowledge transfer
388.3
200,813
164,341
63,734
552.731
264.547
702,276
246,549
589.203
228,075
817.278
948,825
Total 2020
720,470
228,355
948,825
Page 28

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
11. Analysis of expenditure by activities (continued
Analysis of support costs
Research
and
development
2021
Knowledge
transfer
2021
Total
funds
2021
Total
funds
2020
Staff costs
Depreciation
Travel & subsistence costs
Other staff costs
Repairs & maintenance
Stslionery, advertising, postage & equipment
hire
Office running costs
Govemance costs
Professional fees
103,704
2,881
431
1.071
2.860
40,218
1,117
167
415
1,109
143.922
3.998
598
1.486
3,969
142,130
8,409
345
5,229
4,286
10,514
36.809
6.071
4,077
14,277
2,354
14.591
51.086
8.425
14, 729
44,882
6,660
1.685
164,341
63,734
228.075
228,355
Total 2020
169,021
59.334
228,355
Page 29

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Analysis of direct costs
Research
and
development
2021
Knowledge
transfer
2021
Total
funds
2021
Tot81
funds
2020
Stsff costs
Depreciation
Project costs
other staff costs
Office running costs
Stationery, advertising. postage & equipment
hire
Travel & subsistence
Professional fees
238.181
40.366
75.239
7,112
936
103,196
15,655
35,822
2,870
936
341.377
56.021
111.061
9.982
1.872
327,662
69,283
265, 125
3,096
1,834
2.699
19.666
4,1
12,489
28,218
1.625
15.188
47,884
5.815
13,473
39,994
388.389
200,811
589.200
720,467
Total 2020
541,811
178,656
720,467
12.
Auditors. remuneration
2021
2020
Fees payable to the Companls auditor for the audit of the Companls
annual accounts
6.975
6,000
Fees payable lo the Companys auditor in respect of:
All non-audil serVI￿S not included above
66Q
13. Staff costs
Group
2021
Group
2020
Company
2021
Company
2020
Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes
391.891
55.973
394, 793
45.568
391.891
55.973
394, 793
45,568
37.435
29.432
37.435
29,432
485,299
469.793
485,299
469, 193
Page 30

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
13. Staff costs {continued)
The average number of persons employed by the Company during the year was as follows:
Group
2021
No.
Group
2020
No.
Company
2021
No.
Company
2020
No.
Management and administration
Direct charitable
13
16
13
16
16
19
16
19
The number of employees whose employee benefits (excluding employer pension costs} ex￿eded
£60.000 was..
Group
2021
No.
Group
2020
In the band £80,001- £90.000
The Key Management Personnel of the Group are the Truslees and Ihe Senior Managers, being the
CEO, the Finance Manager and the Principal Technical OffI￿r$. The Trustees are not remunerated.
The total of employer benefits. induding employers social security contributions, received by Key
Management Personnel of the Group was £246.65712020= £348,625).
14.
Trustees. remuneration and expenses
During the year, no Trustees received any remunerati(ffi or other benefits (2020- £NIL).
During the year ended 31 December 2021, no Truslee expenses have been incurred (2020 - £NIL).
Page 31

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
16.
Fixed asset investments
Listed
investments
Group
Cost or valuation
At 1 January 2021
Additions
1.099,105
150,000
13,3531
134,814
Disposals
Revaluations
At 31 December 2021
1.380,566
Net book value
At 31 December 2021
1.380,566
Al 31 December 2020
1,099,105
Investrnents at fair value comprise funds indirecly held by fund managers M&G Investments and Telford
Mann Investrnents. All investments in listed securib.es are held in UK common investment funds and are
included wlhin unrestricted funds. Investrnent5 are revalued to recognise their fair value at each balance
sheet dale.
Llsted
Investments
Company
Cost or valuation
At 1 January 2021
Additions
1,099,105
150,000
13,3531
134,814
Disposals
Revaluations
At 31 December 2021
1,380,566
Net book value
At 31 December 2021
1.380,566
At 31 De￿rnber 2020
1,099,105
Page 34

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
17. Debtors
GTOUP
2021
Group
2020
Company
2021
Company
2020
Due within one year
Trade debtors
Amounts owed by group undettskings
Other debtors
Prepayinenls and accrued incorne
343.018
271,815
292.600
191.455
139.830
395,687
267,435
111,302
224.941
1.725
159,668
1.519
569.684
433,002
623.885
774,424
18. Creditors: Amounts falling due within one year
Group
2021
Group
2020
Company
2021
Company
2020
Trade creditors
45.995
34.785
45,995
64.306
102.939
121.845
33,044
9,831
95, 756
152,759
Amounts owed lo group undertakings
Other taxation and social security
Accruals and deferred income
78.618
132.750
79.810
156,458
257,363
271,053
335.085
291,390
Group
2021
Group
2020
Company
2021
Company
2020
Deferred income at 1 January 2021
Resources deferred during the year
Amounts released from previous periods
35,491
18.737
135.491)
25.852
35,491
(25,852)
35.491
18,737
135.491)
25,852
35,49f
(25,852)
18.737
35,491
18.737
35,491
Deferred incorne comprises income in relation to future period 8SS(Kl8te fees Isubscriplionsl and project
work.
Page 35

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
19.
Financial instruments
GTOUP
2021
Group
2020
Company
2021
Company
2020
Financial assets
Financial assets measured at fair value
through income and expenditure
550.032
697.201
488,649
376,115
Financial assets measured al fair value through income and expendilure comprise cash held at bank and
in hand.
Page 36

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
20. Statement of funds
Statement of funds - Current year
Balance at 31
December
2021
Balance at 1
January 2021
Transfers
inlout
Galnsl
(Losses)
Income Expenditure
Unrestricted
funds
Designated
funds
Fixed asset fund
355.663
41,686
397,349
General funds
General funds
Trading
subsidiary
Revaluation
reserve
1.840,338
761.863
{706.217)
43,108
1.939,092
452.126
(367.222)
{84,9041
117.914
134.814
252,728
1,958,252
1,213,989
11,073,439)
{41,7961
134,814
2,191,820
Total
Unrestricted
funds
2,313,915
1,213,989 11,073,439)
{1101
134,814
2,589,169
Restricted
funds
Restricted Funds
110.951
(111.061)
110
Total of funds
2.313.915
1.324.940 11.184.$00)
134.814
2.589,169
Page 37

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
20. Statement of funds (continued
Statement offunds- prioryear
BalanGe at
31
De￿mber
2020
Balance at
1 January
2020
Transfers
I￿out
Gain
(Losses)
Incon￿ Expenditure
Unrestricted
funds
Designatgd
funds
Fixed asset fund
394.435
(77.692)
38.920
355,663
General funds
General funds
Trading
subsidiary
Revaluation
reserve
1,871.979
608, 122
(736,232J
96,469
1,840,338
457.356
(320.960)
(136.396)
275.186
(157,272)
117,914
2, 147,165
1,065,478 (1,057, 192)
(39,927)
(157,272)
1,958,252
Total
Unrestricted
funds
2,541,600
(1, 134.884J
(1,007)
(157,272)
2,313,915
Restricted
fund$
Restricted Funds
133.894
(134.901)
1.007
Total of funds
2,541,600
133.894
(1.269, 785)
(151,212)
2,313,975
Page 38

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
20. Statement of funds (continued
Purposes of designated funds
Fixed assets fund - This represents the value of general funds invested in land and buildings and other
fixed assets and is therefore not readily available for other purposes.
Purposes of general funds
General funds- The 'free reserves. after all other designations and restrictions. The transfer to the fixed
asset fund of £41,68612020'. £38,920) represents the net of fixed asset additions and disposals in the
year.
Trading subsidiary- Reserves in relation to the perfornian￿ of the trading subsidiary PGRO Research
Limited. The transfer of £84,90412020.. £136,396) to the general fund from this fund represents the gift
aid of the profits from the trading subsidiary to the Charity-
Revaluation reserve - Being the differen￿ between the historic cost value and the year end fair value of
listed secLJrilies investrnents are per note 14.
Purposes of restricted funds
Restricted funds - These relate solely lo grant income and related expenditure to match grant fLJnded
projects as required under the terms of the grant offer letters. and is therefore not readily available for
other purposes.
Colin Leakey bursary fund- Undertaking ongoing research of Phaseolus beans.
Transfers from unrestricted funds to restricted funds represent unrestricted fijnds utilised on restrictted
projects of the Charity.
21.
Summary of funds
Surnmary of funds- current year
Balance at 31
December
Balance at 1
January 2021
Transfers
inlout
Gainsl
(Losses)
Income Expenditure
2021
Designated
funds
General funds
Reslricled funds
355,663
1.958.252
41,686
(41,7961
110
397,349
2.191,820
1.213.989 11.073.439)
110.951
(111.061)
134.814
2.313.915
1,324.940 11.184,500)
134,814
2.589,169
Page 39

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
21. Summary of funds lcontinuedl
Summary of funds- prioryear
BalanGe at
31
De￿mber
2020
Balance at
1 January
2020
Transfers
I￿out
Gain
(Losses)
Incon￿ Expenditure
Designated
funds
General funds
Restricted funds
394,435
2,147,165
(77,692)
1.065.478 (1.057, 192)
133,894
(134.901)
38,920
(39.92T) (151,2T2)
1,007
355,663
1,958.252
2,541,600
1, 199,372 {1.269, 785)
(157,272)
2,313,975
22. Analysis of net assets between funds
Analysis of net assets between funds - current year
Unre5tri￿ed
fund5
2021
Total
funds
2021
Tangible fixed assets
Fixed asset investments
Current assets
346.251
1,380.566
1,119,715
{257,3631
346,251
1.380,566
1,119,715
1257,3631
Creditors due within one year
Total
2,589,169
2.589,169
Analysis of net assets between funds - prior year
Unrestricted
funds
2020
Total
funds
2020
Tangible fixed assets
Fixed asset investments
Current assets
355,662
1,099, 104
1,130,204
(271,055)
355,662
1,099,104
1, 730,204
(271,055)
Creditors due within one year
Totsl
2.313,915
2,313,975
Page 40

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
23.
Reconciliation of net movement in funds to net cash flow from operating activities
Group
2021
Group
2020
Nel incomelexpendilure for the year las per Statement of Financial
Acliviliesl
275.254
(227,685)
Adjustments for:
Depreciation charges
Gainsl{lossesl on inveslments
Income from investments
Increase in debtors
60.020
(134.814)
145.475)
{136,684)
113.690)
77,694
757,272
(51,637)
(44,909)
9,303
Increaselldecreasel in creditors
Net cash provided byl(used in) operaling aclivities
4.611
(79,962)
24. Analysis of cash and cash equivalents
Group
2021
Group
2020
Cash in hand
550,034
697,202
Totsl cash and cash equivalents
550.034
697,202
25. Analysls of changes In net debt
At31
At 1 January
2021
December
Cash flows
2021
Cash at bank and irb hand
697,201
{147.169)
550,032
697,201
{147.169)
550,032
Page 41

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
26.
Capital commitments
GTOUP
2021
Group
2020
Company
2021
Company
2020
Contracted for but not provided in these
financial statements
Acquisition of tangible fixed assets
22,000
5.438
22,000
5.438
27.
Pension commitments
The Charity operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the Charity in an independenuy administered fund.
The pension cost charge represents contributions payable by the Charity lo the fund and amounted to
£40,695 {2020'. £44,386).
At the year end. pension contributions payable of £6.301 were included within taxation & social security
12020.. £Nill.
28.
Opgrating lease Commitments
At 31 December 2021 the Group and the Company had commitments to make future minimum lease
payments under non-cancellable operating leases as follows:
Group
2021
Gmup
2020
Company
2021
Company
2020
Not later than 1 year
Later than 1 year and not18ter than 5 years
26.731
14.040
34,417
29.295
26.731
14.040
34,417
29,295
40,771
63.712
40,771
63,772
29. Related party transactlons
The Charity has taken advantage of the exemption contained in FRS 102 section 33.1 Related Party
Disclosures and has therefore not disclosed transactions or balances with wholly owned entities which
form part of the group.
Fen Peas Limited - a company under ￿MmOn control of Stephen Francis
During Ihe year. PGRO invoiced Fen Peas Limiled £10.38512020= £5,630). The amount outstanding from
Fen Peas Limited al the balance sheet dale was £Nil (2020.. £Nill.
Other than Key Managemenl Personnel remuneration disclosed in Note 13, there were no further related
party transactions during 2021 or 2020.
Page 42

PROCESSORS AND GROWERS RESEARCH ORGANISATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
30. Controlling party
The Trustees do not consider that Ihere is any single controlling paty.
Page 43