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Charity number: 802635
THE INSTITUTE OF AGRICULTURAL MANAGEMENT
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
CONTENTS
Page
Reference and administrative details of the The Institute of Agricultural Management,
its Trustees and advisers
Trustees. report
Independent examinerfs report
Statement of financial activities
10
Balance sheet
Statement of cash flows
12
Notes to the financial statements
13-23

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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
REFERENCE AND ADMINISTRATIVE DETAILS OF THE THE INSTITUTE OF AGRICULTURAL
MANAGEMENT, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Mr C A Atkin, Chair {resigned 1810412024)
Mr T D A Brigstocke MBE
Mr T Brunt, Co-opted Council Member
Mr M Clementson (resigned 1810412024)
MrJ A Giles
Mr M Lobley, Co-opted Council Member
Mr H V Matthews (resigned 1810412024)
Mr R A Price, Chair
Mr G Redman
Mr D Roberts {resigned 0811012024)
Ms K Russell Hall
Mr O Scott
Mr M Suthern, Co-opted Council Member
Mr M Yearsley
Mr T A Cotterill
Mr W Oliver {appointed 1810412024)
Mr J A Balfour {appointed 1810412024)
Mr S R Haley {appointed 1810412024)
Mr D Jones (appointed 1810412024)
Charity registered number
802635
Principal office
The Farm Office
Redend Farm
Station Road
Pilning
Bristol
BS35 4JW
Director
Mrs Victoria Bywater
Accountants
James Cowper Kreston
Chartered Accountants
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG19 6AB
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
REFERENCE AND ADMINISTRATIVE DETAILS OF THE THE INSTITUTE OF AGRICULTURAL
MANAGEMENT, ITS TRUSTEES AND ADVISERS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Bankers
HSBC plc
1 Marlborough Road
Old Town
Swindon
Wiltshire
SN3 1QN
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial statements of the Charity for the year ended
31st December 2024. The Trustees confirm that the Annual Report and financial statements of the Charity
comply with the current statutory requirements, the requirements of the Charitvs goveming document and the
provisions of the Statement of Recommended Practice (SORP). applicable to charities preparing their accounts
in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)
(effective 1 January 2015)-
Objectives and activities
Policies and objectives
The Institute of Agricultural Management is the Professional Body for those engaged in agricultural, rural and
environmental management. The objectives of the Institute of Agricultural Management (The Institute) are to
maintain and improve the standards of the practi￿ of agricultural management,. to advan￿, spread and promote
all aspects of agricultural management and to encourage the study of agricultural management. The expression
agricultural management, includes all aspects of the scien￿, production, conservation, amenity, economics and
art of managing and marketing agriculture and related rural business, their products and seNices. In pursuing
these objects, insofar as they may be similar to those of existing bodies, The Institute shall use its best
endeavours to co-operate with them and to ensure that its activities are complementary.
Main activities undertaken to further the The Institute of Agricultural Management's purposes for the
public benefit
The Trustees have considered the Charity Commission general guidance on public benefit when reviewing the
institute's aims and objectives and in planning future activities. The Institute carries out its objectives by
delivering a range of benefits to its members, the wider agricultural community and colleges and Universities by
the following:
Structured levels of membership
Representation of members at consultations. on national committees etc
Leadership Development Programme
Organisation of the National Fami Management Conference
Organisation of activities for students
Organisation of ne￿OrkIng opportunities and online CPD opportunities
Organisation of the National Farm Visit
Supporting the local branch ne￿orkS
Achievements and performance
Main achievements of the The Institute of Agricultural Management
The membership of the Institute continues to grow with the following membership grades available.
Member (MIAgrM)
Employed in agricultural management,. or employed in associated rural management., or lecturing in courses
which include agricultural management. or aspiring to a more senior role in agricultural management. or aspiring
to a more senior role in associated rural management.
Commended Member I Commended Fellow (CMIAgrM I CFIAgrM)
As Member criteria plus a minimum of 2 years. experience: or a course passed at Level 3 or equivalent which
includes agri-business, farm management or related subjects i.e. BTEC Level 3 Extended Diploma in
Agriculture,. plus annual achievement of 10 Continuous Professional Development (CPD) points.
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Professional Member I Professional Fellow (PMIAgrM I PFIAgrM)
Route t As Member criteria plus a minimum of 5 years. experien￿. plus a course passed at Level 6 or
equivalent which includes agricultural management e.g. Bsc (Hons) Agriculture; plus annual achievement of 20
Continuous Professional Development (CPD) points. plus successful review by a panel of the Professional
Affairs Committee.
Route 2- As Member criteria plus a minimum of 10 years, experience,. plus made a significant contribution to the
sector; plus annual achievement of 20 Continuous Professional Development {CPD) points., plus successful
review by a panel of the Professional Affairs Committee.
Route 3 - Successfully completed 5 years. continuous criteria as a Commended Member.
Route 4 - As Member criteria; plus completion of the Farm Management Skills Programme.
Fellow (FIAgrM) including Honorary Fellow
Awarded to individuals who are currently or have made an outstanding contribution to agriculture. Proposed and
seconded by current Membersl Commended Membersl Professional Members or Fellows of the Institute and
ratified by Council.
Graduate Member (GMIAgrM)
ROUTE 1.. A Graduate Member (GMIAgrM) is for an individual who has achieved a degree-level qualification in
an agriculture or related course including an apprenticeship.
ROUTE 2.. A Graduate Member (GMIAgrM) is for any individual following completion of their education.
Student Members may automatically apply for Graduate Membership on completion of their fulll part time
agriculture or related course including an apprenti￿Ship.
Graduate membership is for a two-year period following completion of a degree-level qualification in an
agriculture or related course including an apprenticeship or general education.
Student Member (SIAgrM)
Registered on a fulllpart time agriculture or ￿lated course including an apprenticeship; or registered on a full
timelpart time land base course including an apprenticeship.
Fellows. and Professionals. Lunch
The Fellows and Professionals Lunch was held at the Sandringham Estate.
National Farm Management Conference. Leadership Development Programme Alumni Dinner & The
John Alliston Memorial Lecture
The National Fann Management Conference 2024 was held in November at the QEII Centre, London with over
400 members and guests in attendance. The John Alliston Memorial Lecture and Dinner were held at the
Farmers Club on the evening of the confe￿n￿ with 41 members and guests in attendance.
National Farm Walk
The National Farm Walk was unfortunately Can￿lled due to low take up.
Farni Management Skills Programme (FMSP)
The FMSP was held over 8 modules during November and December 2024. The programme was a great
success and Harper Adams University continues to be an excellent venue.
Leadership Programme
The Leadership Programme ran from February to April 2024 with delegates spending time at Cirencester,
Brussels. Wageningen and Westminster.
60 Minute Online CPD Sessions
The Institute has offered a series of online training sessions free-of-charge to members of the autumn and winter
months.
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Annual Review
The Institute published its third Annual Review which was circulated to all members by email in December 2024
along with an electronic copy available via the website.
Financial review
Going concern
After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt
the going concem basis in preparing the financial statements.
The Charitys income during the year was £170.235 (2023.. £181,176) with expenditure at £171.369 (2023..
£166,215), resulting in a deficit £1.134 (surplus in 2023: £14.961). At the year end the total reseNes stood at
£160,508 (2023.. £161.642).
A deficit has been recorded due to a number of factors during the accounting period as follows;
The cancellation of 2 events due to low numbers
An increase in costs of the National Farm Management Conference
Reserves policy
The charity has a reserves policy which is reviewed on a regular basis to take account of changes to the future
plans of IAgrM and perceived risks.
Reserves are that part of a charitys unrestricted funds that is freely available to spend on any of the charitys
purposes. This excludes restricted income funds and endowment funds, although holding such funds may
influence a charity's reseNes policy. Reserves will also normally exclude tangible fixed assets held for the
charitys use, programme-related investments and designated funds ring-fenced for essential future spending.
The primary aim of this Reserves Policy is to:
1. Give confidence to funders by demonstrating good stewardship and financial management;
2. Assist with intemal strategic planning. inform the budget and risk management process.,
3. Demonstrate the charitls sustainability and capacity to manage unforeseen financial difficulties;
4. Give voluntary funders. such as grant-makers, an understanding of why funding is needed to undertake a
particular project or activity.,
5. Give assurance to lenders and creditors that the charity can meet its financial commitments. and
6. Manage the risk to the charitys reputation from holding substantial unspent funds at the year-end without
explanation.
Throughout the year, the trustees have reviewed the Reserves Policy and considered the nature of the funds
re￿iVed and held by the charity- i.e. whether the funds are unrestricted or restricted income, or expendable or
permanent endowment, in order to identify why reserves might need to be held, quantify the amounts of rese￿e$
needed to operate effectively and identify unrestricted funds which can be spent on any purposes of the charity.
The policy will be reviewed at least annually as part of a charitys planning processes. The amount held in
reserves will also be monitored during the course of the year as part of a charitys budgetary processes.
IAgrM reserves are maintained for a variety of reasons as identified below:
1. Unexpected needs.. An amount might be needed to meet an unforeseen emergency or other unexpected need
for funds. This amount is arrived at after considering risks and how much might be needed for such
contingencies,. this involves judgement of events that may occur and their likelihood. £20,000 is retained to meet
an unforeseen emergency or other unexpected event.
2. Expenditure budget
a small contingency fund to meet unforeseen day-to-day operational costs. The
expenditure budget is reviewed annually. A contingency of £10,000 is retained for unexpected and unforeseen
operational expenditure.
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3. Uncertainty over future sources of income. Most well run organisations retain reserves equivalent to a number
of weeks or months of income equivalent to allow time to develop new sources of income or to cut-back on
related expenditure. Potential significant loss of income could result from a downtum in economic activity or loss
of reputation or National emergency. Income be retained to cater for this risk which would amount to around
£20,000.
4. Planned spending commitments or designations which cannot be met from future income would imply a need
for a specific sum to be set aside but this amount will be included within designations in the accounts.
5. Short-term deficits in cash flow
organisations require a working balance to cover 'troughs' in the cash
budget. Based on the financial year the cash flow is expected to be positive throughout the year i.e. cash
generated from income generated should ex￿ed cash outlay on expenditure. Where significant one-off
expenditure is incurred, use of reserves would be used to cover any shortfalls. As such no sum is set aside for
this specific purpose especially given the sums detailed above (14).
6. In summary the Reserves amount to be retained totalling £50,000 amounts to..
Unexpected needs - £20,000
Expenditure budget - £10,000
Uncertainty over future sources of income - £20,000
Planned spending commitments or designations- £0
Short-Term deficits in cash flow- £0
Structure, governance and management
Constitution
The Charity was formed as a trust under a Trust Deed dated 22 January 1990 and its registered charity number
is 802635.
Appointment of Trustees
Trustees are appointed by the members at the Annual General Meeting.
Remuneration policy with service providers
All remuneration is discussed and agreed at Executive meetings.
Organisational structure
The Board of Trustees administers the Charity and meet several times throughout the year. A director is
appointed by the Board to manage the day to day operations of the Charity.
Related party relationships
During the year directorfs fees and administration costs were payable to Fortis9 Ltd, a company beneficially
owned by Mr & Mrs RL Bywater.
Risk management
The major risks to which the Charity is exposed have been reviewed and systems have been established to
mitigate those risks. The Charitys principal risks include financial risks of inadequate cashflow and budgetary
control. These are monitored and discussed by regular financial reporting at Trustees meetings. Another
principal risk is competition from other similar organisations and maintaining membership levels. This is
managed by discussion at Trustees meetings to keep up to date within the industry, ensuring the conference
topics are relevant to maximise attendance and monitoring membership levels regularly.
Future developments
The Institute will continue with its core activities as well as continuing to support its branches, and to encourage
student interest in the subject.
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Statement of Trustees. responsibilities
The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England & Wales 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 Institute of Agricultural
Management and of its incoming resources and application of resources of the charity for that period. including
its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP (FRS 102).
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards {FRS 102) have been followed, subject to any
material departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
The Institute of Agricultural Management will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the The Institute of Agricultural Management's transactions and disclose with reasonable accuracy at any time
the financial position of the The Institute of Agricultural Management and enable them to ensure that the financial
statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the
provisions of the Trust deed. They are also responsible for safeguarding the assets of the The Institute of
Agricultural Management and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and financial information included
in the charitys website. Legislation in the United Kingdom goveming the preparation and dissemination of
financial statements may differ from legislation in otherjurisdictions
This report was approved by the Trustees and signed on their behalf by:
PnLE2$w2f￿ 1721".16Bsrnrrc+ll
MrRAPrice
(Chair of Trustees)
Date: 25 April 2025
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Independent examiner's report to the Trustees of The Institute of Agricultural Management ('the
The Institute of Agricultural Management.)
I report to the charity Trustees on my examination of the accounts of the The Institute of Agricultural
Management for the year ended 31 De￿mber 2024.
Responsibilities and basis of report
As the Trustees of the The Institute of Agricultural Management you are responsible for the preparation of the
accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act,).
I report in respect of my examination of the The Institute of Agricultural Management's accounts carried out
under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions
given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examinerfs statement
Your attention is drawn to the fact that the The Institute of Agricultural Management has prepared the accounts
in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of
Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been
withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in accordance with
the Generally Accepted Accounting Practi￿ effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confimi that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the The Institute of Agricultural Management as required
by section 130 of the 2011 Act., or
the accounts do not accord with those records. or
the accounts do not comply with the applicable requirements concerning the fonn and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and faiv view which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the The Institute of Agricultural Management's Trustees, as a body, in accordance
with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I
might state to the The Institute of Agricultural Management's Trustees those matters l am required to state to
them in an independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do
not accept or assume responsibility to anyone other than the The Institute of Agricultural Management and the
The Institute of Agricultural Management's Trustees as a body. for my work or for this report.
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Signed:
Dated: 7 May 2025
Fiona Hawkins
FCA
James Cowper Kreston
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG19 6AB
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Charitable activities
Investments
107,441
61,073
1.721
107.441
61,073
1.721
103,347
76,532
1,297
Total income
170,235
170,235
181,176
Expenditure on:
Raising funds
Charitable activities
5,823
165,546
5,823
165,546
2,379
163,836
Total expenditure
171,369
171,369
166,215
Net movement in funds
(1,134)
{1,134)
14,961
Reconciliation of funds:
Total funds brought forward
Net movement in funds
161,642
(1,134)
161,642
{1,134)
146,681
14,961
Total funds carried forward
160,508
160,508
161,642
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
Fixed assets
Intangible assets
13
72
72
Current assets
Debtors
14
16,986
167,107
12,612
162,489
Cash at bank and in hand
184,093
175,101
Creditors.. amounts falling due within one
year
15
(23,585)
(13,531)
Net current assets
160,508
161,570
Total assets less current liabilities
160,508
161,642
Total net assets
160,508
161,642
Charity funds
Unrestricted funds
16
160,508
161,642
Total funds
160,508
161,642
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
T Br￿*
gwd Pnce29Ay20¥ 1791."16BSTILrrc *11
MrRAPrice
(Chair of Trustees)
Date: 25 April 2025
MrT Brunt
The notes on pages 13 to 23 fom part of these financial statements.
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Cash flows from operating activities
Net cash used in operating activities (note 19)
4.618
12,867
Cash flows from investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
4.618
12,867
162,489
149,622
Cash and cash equivalents at the end of the year
167,107
162,489
The notes on pages 13 to 23 fom part of these financial statements
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP {FRS 102)
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019). the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fairf view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true
and fairf view. This departure has involved following the Charities SORP (FRS 102) published in
October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended
Practice effective from 1 April 2005 which has since been withdrawn.
The Institute of Agricultural Management meets the definition of a public benefit entity under FRS
102. Assets and liabilities are initially recognised at historical cost or transaction value unless
otherwise stated in the relevant accounting policy.
1.2 Income
All income is recognised once the The Institute of Agricultural Management has entitlement to the
income, it is probable that the income will be re￿iVed and the amount of income receivable can be
measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Other income is recognised in the year in which it is re￿1vable and to the extent the goods have
been provided or on completion of the service.
1.3 Expenditure
Expenditure is recognised once the￿ is a legal or constructive obligation to transfer economic benefit
to a third party, 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 total of direct costs and shared costs, including support costs
involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned between those 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.
Expenditure on raising funds includes all expenditure incurred by the The Institute of Agricultural
Management to raise funds for its charitable purposes and includes costs of all fundraising activities
events and non-charitable trading.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity.
1.4 Intangible assets and amortisation
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible
assets are measured at cost less any accumulated amortisation and any accumulated impairment
losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on
a straight-line basis over its expected useful life.
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
1.4 Intangible assets and amortisation (continued)
Amortisation is provided on the following basis:
Website
20 .￿ straight line
1.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
1.7 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.
1.8 Financial instruments
The Institute of Agricultural Management only has financial assets and financial liabilities of a kind
that qualify as basic financial instruments. Basic financial instruments are initially recognised at
transaction value and subsequently measured at their settlement value with the exception of bank
loans which are subsequently measured at amortised cost using the effective interest method.
1.9 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 The Institute of Agricultural Management 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 to the financial
statements.
Investment income, gains and losses are allocated to the appropriate fund.
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donations and sponsorship
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Sponsorship
Membership subscriptions
19,726
87,715
19,726
87.715
18,610
84,737
Total 2024
107,441
107,441
103,347
Total 2023
103,347
103,347
Income from charitable activities
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Conferen￿, events and training income
Fami visits
53,177
3,766
4,080
50
53,177
3,766
4,080
50
64,792
6,535
5,205
Fellows. professionals and members lunth
Survey sales
Total 2024
61,073
61,073
76,532
Total 2023
76,532
76,532
Investment income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Investment income
1,721
1,721
1,297
Total 2023
1,297
1,297
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure on raising funds
Costs of raising voluntary income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Costs of raising voluntary income
5,823
5.823
2,379
Total 2023
2,379
2,379
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2024
Total
2024
Total
2023
Conference, events and training expenses
Fami visits
Fellows, professionals and members lunch
Lecturers conference
Salary survey expenses
LDP alumni dinner expenses
Leadership course expense
Support costs
Governance costs
87,372
1,601
3,445
175
240
87,372
1,601
3,445
175
240
80,656
5,593
6,364
500
165
4,399
11,604
43,300
13,410
4,399
11,604
43,300
13,410
4,185
5,082
49,126
12,165
Total 2024
165,546
165,546
163,836
Total 2023
163,836
163,836
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Support costs
2024
2023
Director's fees
Director's expenses
Printing and photocopying
Postage and carriage
Stationery
Insurance
26,998
2.144
26,600
1,813
30
29
11
121
4,505
3,229
1.457
841
4,186
Professional fees
Bank charges
Website and IT costs
1,024
5,600
2,212
5,598
938
Advertising
Annual review
125
2,656
1.233
72
Subscriptions
Amortisation
1,004
43,300
49,126
Governance costs
2024
2023
Independent examination fee
Director's fees
Membership expenses
Committee meeting expenses
2,075
8,584
2,170
581
1,880
8,400
1,151
734
13,410
12,165
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year. travel expenses totalling £233 were reimbursed or paid directly to 3 Trustees (2023
£433- 2 Trustees).
10.
Independent examinerfs remuneration
The Independent Examinerfs remuneration amounts to an Independent Examination and accountancy
services fee of £2,075 (2023- £1.880).
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Stsff costs
The charity has O employees (2023 - 0 employees).
There are no employees who received total employee benefits of more than £60,000 in either year.
12.
Taxation
The charity does not trade for tax purposes and therefore is not liable to corporation tax on any surplus.
13.
Intangible assets
Website
Cost
At 1 January 2024
5.021
At 31 December 2024
5,021
Amortisation
At 1 January 2024
Charge for the year
4.949
72
At 31 December 2024
5.021
Net book value
At 31 December 2024
At 31 December 2023
72
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
14.
Debtors
2024
2023
Due within one year
Trade debtors
Other debtors
2.014
14,677
295
420
12,192
Prepayments and accrued income
16,986
12,612
15.
Creditors: amounts falling due within one year
2024
2023
Trade creditors
Accruals and deferred income
2,125
21,460
2,284
11,247
23,585
13,531
Included in accruals and deferred income is deferred income of £15,007 (2023 £6,170) which are
memberships and subscriptions that relate to the following financial year.
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
16. Ststement of funds
ststement of funds - current year
Balance at
31
December
2024
Balance at 1
January
2024
Income Expenditure
Unrestricted funds
Designated funds
Designated funds - all funds
50,000
50,000
General funds
General Funds- all funds
111,642
170,235
(171,369)
110,508
Total Unrestricted funds
161,642
170,235
{171,369}
160,508
Statement of funds - prior year
Balance at
31
December
2023
Balance at
1 January
2023
Income Expenditure
Unrestricted funds
Designated funds
Designated funds - all funds
50,000
50,000
General funds
General Funds- all funds
96,681
181,176
(166,215)
111,642
Total Unrestricted funds
146,681
181,176
(166,215)
161,642
Designated Fund These are funds which have been ring-fenced for essential future spending (see
trustees, report for further detsil).
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
17.
Summary of funds
Summary of funds - current year
Balance at
31
December
2024
Balance at 1
January
2024
Income Expenditure
Designated funds
General funds
50,000
111,642
50,000
110,508
170,235
{171.369)
161,642
170,235
(171,369)
160,508
Summary of funds - prior year
Balance at
31
December
2023
Balance at
1 January
2023
Income
Expenditure
Designated funds
General funds
50,000
96,681
50,000
111,642
181,176
(166,215)
146,681
181,176
(166,215)
161,642
18. Analysis of net assets between funds
Analysis of net assets between funds - current period
Unrestricted
funds
2024
Total
funds
2024
Current assets
Creditors due within one year
184,093
(23,585)
184,093
(23,585)
Total
160,508
160,508
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
18.
Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
Unrestricted
funds
2023
Total
funds
2023
Intangible fixed assets
Current assets
72
72
175,101
(13,531)
175,101
(13,531)
Creditors due within one year
Total
161,642
161,642
19. Reconciliation of net movement in funds to net cash flow from operating activities
2024
2023
Net incomelexpenditure for the period (as per Statement of Financial
Activities)
(1,134)
14,961
Adjustments for:
Amortisation charges
Decreasel(increase) in debtors
Decrease in creditors
72
(4,374)
10,054
1,004
527
(3,625)
Net cash provided by operating activities
4,618
12,867
20.
Analysis of cash and cash equivalents
2024
2023
Cash in hand
167,107
162,489
Total cash and cash equivalents
167,107
162,489
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THE INSTITUTE OF AGRICULTURAL MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
21.
Analysis of changes in net debt
At1
January
2024 Cash flows
At31
December
2024
Cash at bank and in hand
162.489
4.618
167,107
162,489
4,618
167,107
22.
Related party transactions
During the year director's fees and administration costs of £35,582 (2023 £35,000) were payable to
Fortis9 Ltd, a company beneficially owned by the Director, V Bywater.
23. Controlling party
The Charity is controlled by its Trustees as listed on page 1.
Page 23