OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← The Institute Of Agricultural Management

2025-12-31-accounts

Charity number: 802635

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

CONTENTS

Page
Reference and administrative details oftheThe Institute of Agricultural Management, 1
its Trustees and advisers
Trustees’ report 2-5
Independent examiner's report 6-7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notestothefinancialstatements 11-20

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 2025

Trustees

Mr T D A Brigstocke MBE (resigned 31/12/2025) Mr T Brunt, Co-opted Council Member Mr J A Giles (resigned 31/12/2025) Mr M Lobley, Co-opted Council Member (resigned 31/12/2025) Mr R A Price, Chair Mr G Redman (resigned 31/12/2025) Ms K Russell Hall (resigned 31/12/2025) Mr © Scott (resigned 31/12/2025) Mr M Suthern, Co-opted Council Member Mr M Yearsley (resigned 31/12/2025) Mr T A Cotterill (resigned 31/12/2025) Mr W Oliver (resigned 31/12/2025) Mr J A Balfour (resigned 31/12/2025) Mr S R Haley (resigned 31/12/2025) Mr D Jones (resigned 31/12/2025)

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

Bankers

HSBC plc 1 Marlborough Road Old Town Swindon Wiltshire SN3 1QN

Page 1

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees present their annual report together with the financial statements of the Charity for the year ended 31st December 2025. The Trustees confirm that the Annual Report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

OBJECTIVE AND ACTIVITIES

Objectives

The Institute of Agricultural Management is the professional body for those engaged in agricultural, rural and environmental management.

The objectives of the Institute are to maintain and improve the standards of the practice of agricultural management; to advance, 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 science, production, conservation, amenity, economics and art of managing and marketing agriculture and related rural business, their products and services. In pursuing these objects, insofar as they may be similar to those of existing bodies, the Institute uses its best endeavours to co-operate with them and to ensure that its activities are complementary.

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:

Activities during the year

Membership

The membership of the Institute continues to provide structured professional recognition through a range of membership grades including Member, Commended Member/Fellow, Professional Member/Fellow, Fellow, Graduate Member and Student Member.

Council continued to review Fellowship processes and approved a number of Fellowship upgrades during 2025.

Key Events and Professional Activities

During 2025 the Institute delivered a strong programme of national and regional activities, including:

Page 2

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Strategic Development: Combination of Activities and Transition

A major development during 2025 was the continued work to establish a successor incorporated charity and to progress a combination of activities with the British Institute of Agricultural Consultants (BIAC).

Council confirmed that the successor ClO has been successfully registered with the Charity Commission, and that the transition of [AgrM activities, assets and membership is part of this process.

The combination of activities is intended to bring together the shared objectives of [AgrM and BIAC, expanding professional reach, strengthening member services and improving efficiency.

FUTURE DEVELOPMENTS AND CESSATION

Following the successful combination of activities with BIAC into the successor incorporated organisation (the Society of Agriculture) on the 1st January 2026, the Trustees confirm that:

FINANCIAL REVIEW

Going concern

The financial statements have been prepared on the going concern basis.

After the balance sheet date, the charity entered into a combination of activities with the British Institute of Agricultural Consultants (BIAC), forming a successor charitable incorporated organisation, the Society of Agriculture, which completed on 1 January 2026.

The Trustees consider that the combination of activities provides a sustainable future for the charity's activities through the transfer of its operations, assets and liabilities to the successor organisation. Accordingly, the Trustees believe that the going concern basis of accounting remains appropriate for the preparation of these financial statements.

Results

The Charity’s income during the year was £162,499 (2024: £170,235) with expenditure at £153,725 (2024: £171,369), resulting in a surplus of £8,774 (deficit in 2024: £1,134). At the year end the total reserves stood at £169,282 (2024: £160,508).

Reserves policy

The charity maintains a reserves policy which was reviewed regularly during 2025 in light of operational costs and the combination of activities transition.

Page 3

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

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 director's 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, including financial oversight, membership monitoring and strategic transition planning.

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:

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.

Page 4

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees are responsible for the maintenance and integrity of the charity and financial information included in the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the Trustees and signed on their behalf by:

An J Richard Price 28 Apr 2026 17:34:47 BST (UTC +1) ey oo aaa (Chair of Trustees)

Date: 28 April 2026

Page 5

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Independent examiner's report to the Trustees of The Institute of Agricultural Management (‘the The Institute of Agricultural Management’)

| report to the charity Trustees on my examination of the accounts of the The Institute of Agricultural Management for the year ended 31 December 2025.

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’).

| 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 | have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's 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.

| 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 Practice effective for reporting periods beginning on or after 1 January 2015.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the The Institute of Agricultural Management as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form 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 fair’ view which is not a matter considered as part of an independent examination.

| 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 | might state to the The Institute of Agricultural Management's Trustees those matters | am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, | 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.

Page 6

29/04/2026

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

Unrestricted Total Total
funds funds funds
2025 2025 2024
Note £ £ £
Income from:
Donations and legacies 2 105,488 105,488 107,441
Charitable activities 3 55,501 55,501 61,073
Investments 4 1,510 1,510 1,721
Total income 162,499 162,499 170,235
TT
Expenditure on:
Raising funds 5 7,901 7,901 5,823
Charitable activities 6 145,824 145,824 165,546
Total expenditure 153,725 153,725 171,369
Netmovement in funds 8,774 8,774 (1,134)
Reconciliation of funds:
Total funds brought forward 160,508 160,508 161,642
Net movement in funds 8,774 8,774 (1,134)
Totalfundscarriedforward 169,282 169,282 160,508

Page 8

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

BALANCE SHEET
AS AT 31 DECEMBER 2025
2025 2024
Note £ £
Current assets
Debtors 13 32,644 16,986
Cash at bank and in hand 154,551 167,107
187,195 184,093
Current liabilities
Creditors: amounts falling due within one
year 14 (17,913) (23,585)
Net current assets 169,282 160,508
Total net assets 169,282 160,508
Charity funds
Restricted funds 15 - -
Unrestricted funds 15 169,282 160,508
Totalfunds 169,282 160,508

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Ahi A
Bunt
Richard Price 28 Apr 2026 17:34:47 BST (UTC +1) Tom Brunt 29 Apr 2026 14:00:36 BST (UTC +1)
(Chair ofTrustees)
Date:28April2026		 ;
29April2026

The notes on pages 11 to 20 form part of these financial statements.

Page 9

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2025|2024| |£|£| |Cash|flows|from|operating|activities| |Net|cash|used|in|operating|activities|(12,556)|4,618| |Change|in|cash|and|cash|equivalents|in|the|year|(12,556)|4,618| |Cash|and|cash|equivalents|at the|beginning|of|the|year|167,107|162,489| |Cash|and|cash|equivalents|at|the|end|of the|year|154,551|167,107| |The|notes|on|pages|11|to|20|form|part|of these|financial|statements|

----- End of picture text -----

Page 10

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. 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 fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ 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 Going concern

The financial statements have been prepared on the going concern basis.

After the balance sheet date, the charity entered into a combination of activities with the British Institute of Agricultural Consultants (BIAC), forming a successor charitable incorporated organisation, the Society of Agriculture, which completed on 1 January 2026.

The Trustees consider that the combination of activities provides a sustainable future for the charity's activities through the transfer of its operations, assets and liabilities to the successor organisation. Accordingly, the Trustees believe that the going concem basis of accounting remains appropriate for the preparation of these financial statements.

All income is recognised once the The Institute of Agricultural Management has entitlement to the income, it is probable that the income will be received 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 receivable and to the extent the goods have been provided or on completion of the service.

1.4 Expenditure

Expenditure is recognised once there 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.

Page 11

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

  1. Accounting policies (continued)

1.4 Expenditure (continued)

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.

1.5 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.

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.

Page 12

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Income from donations and sponsorship

Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Sponsorship 13,519 13,519 19,726
Membership subscriptions 91,969 91,969 87,715
Total 2025 105,488 105,488 107,441
Total 2024 107,441 107,441
3. Income from charitable activities
Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Conference, events and training income 49,176 49,176 53,177
Farm visits 2,835 2,835 3,766
Fellows, professionals and members lunch 2,288 2,288 4,080
Journal sales 1,202 1,202 -
Survey sales - - 50
Total 2025 55,501 55,501 61,073
Total 2024 61,073 61,073
4. Investment income
Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Investment income 1,510 1,510 1,721
Total2024 1,721 1,721

Page 13

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

5: Expenditure on raising funds

Costs of raising voluntary income

Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Costs of raising voluntary income 7,901 7,901 5,823
Total 2024 5,823 5,823

6. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds Total Total
2025 2025 2024
£ £ £
Conference, events and training expenses 53,561 53,561 87,372
Farm visits 2,654 2,654 1,601
Fellows, professionals and members lunch 4,327 4,327 3,445
Lecturers conference (500) (500) 175
Salarysurvey expenses - - 240
LDP alumni dinner expenses - - 4,399
Leadership courseexpense (234) (234) 11,604
Support costs 68,180 68,180 43,300
Governance costs 17,836 17,836 13,410
Total 2025 145,824 145,824 165,546
Total2024 165,546 165,546

Page 14

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

& Support costs

2025 2024
£ £
Director's fees 41,596 26,998
Director's expenses 6,035 2,144
Telephone 1,015 -
Postage and carriage - 29
Stationery 10 11
Insurance 3,670 4,505
Professional fees 850 3,229
Bank charges 1,163 1,457
Website and IT costs 1,655 841
Advertising 480 125
Annual review 1,747 2,656
Subscriptions - 1,233
Amortisation - 72
CIO set up costs 9,959 -
68,180 43,300
8. Governance costs
2025 2024
£ £
Independent examination fee 3,155 2,075
Director's fees 13,135 8,584
Membership expenses 1,041 2,170
Committee meeting expenses 505 581
17,836 13,410

9. Trustees’ remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year, travel expenses, subscriptions and sponsorship totalling £858 were reimbursed or paid directly to 3 (2024: £233 - 3 Trustees).

10. Independent examiner's remuneration

The Independent Examiner's remuneration amounts to an Independent Examination and accountancy services fee of £3,155 (2024: £2,075).

Page 15

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

11. Staff costs

The charity has 0 employees (2024 - 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. Debtors

2025 2024
£ £
Due within one year
Trade debtors - 2,014
Other debtors 10,363 14,677
Prepayments and accrued income 22,281 295
32,644 16,986
Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 576 2,125
Accruals and deferred income 17,337 21,460
17,913 23,585

14. Creditors: amounts falling due within one year

Included in accruals and deferred income is deferred income of £nil (2024: £15,007) which are memberships and subscriptions that relate to the following financial year.

Page 16

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

15. Statement of funds

Statement of funds - current year

Balance at
Balance at 1 31
January December
2025 Income Expenditure 2025
£ £ £ £
Unrestricted funds
Designated funds
Designated funds- all funds 50,000 - - 50,000
General funds
General Funds- all funds 110,508 162,499 (153,725) 119,282
Total Unrestricted funds 160,508 162,499 (153,725) 169,282
Statement of funds - prior year
Balance at
Balance at 31
1 January December
2024 Income Expenditure 2024
£ £ £ £
Unrestricted funds
Designated funds
Designated funds- all funds 50,000 - - 50,000
General funds
General Funds- allfunds 111,642 170,235 (171,369) 110,508
TotalUnrestrictedfunds 161,642 170,235 (171,369) 160,508

Designated Fund - These are funds which have been ring-fenced for essential future spending (see trustees’ report for further detail).

Page 17

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

16. Summary of funds

Summary of funds - current year

Balance at
Balance at 1 31
January December
2025 Income Expenditure 2025
£ £ £ £
Designated funds 50,000 - - 50,000
General funds 110,508 162,499 (153,725) 119,282
160,508 162,499 (153,725) 169,282
Summary offunds - prioryear
Balance at
Balance at 31
1 January December
2024 Income Expenditure 2024
£ £ £ £
Designated funds 50,000 - - 50,000
General funds 111,642 170,235 (171,369) 110,508
161,642 170,235 (171,369) 160,508

Summary of funds - prior year

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted Total
funds funds
2025 2025
£ £
Current assets 187,195 187,195
Creditors due within one year (17,913) (17,913)
Total 169,282 169,282

Page 18

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

17. Analysis of net assets between funds (continued)

Analysis of net assets between funds- prior year

Unrestricted Total
funds funds
2024 2024
£ £
Current assets 184,093 184,093
Creditors due within one year (23,585) (23,585)
Total 160,508 160,508
18. Reconciliation of net movement in funds to net cash flowfrom from operating activities
2025 2024
£ £
Net
income/expenditure		 for the year (as per Statement of Financial
Activities) 8,774 (1,134)
Adjustments for:
Amortisation charges - 72
Decrease/(increase) in debtors (15,658) (4,374)
Decrease in creditors (5,672) 10,054
Net cash provided by/(used in) operating activities (12,556) 4,618
19. Analysis ofcash and cash equivalents
2025 2024
£ £
Cash in hand 154,551 167,107
Totalcashandcashequivalents 154,551 167,107

Page 19

THE INSTITUTE OF AGRICULTURAL MANAGEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

20. Analysis of changes in net debt

At 1 At 31
January December
2025 Cash flows 2025
P £ £
Cash atbank and in hand 167,107 (12,556) 154,551
167,107 (12,556) 154,551

21. Related party transactions

During the year director's fees and administration costs of £54,731 (2024: £35,582) were payable to Fortis9 Ltd, a company beneficially owned by the Director, V Bywater.

22. Post balance sheet events

After the balance sheet date, the charity entered into a combination of activities transition with the British Institute of Agricultural Consultants (BIAC) to form a successor charitable incorporated organisation (the Society of Agriculture), which completed on 1 January 2026.

Council confirmed that the successor CIO has been successfully registered with the Charity Commission, and that the transition of I[AgrM activities, assets and membership is planned as part of this process.

Included within the assets transferred were funds that had been designated by the trustees of the charity for specific purposes. These funds were unrestricted in nature, with the designations representing internal trustee decisions rather than external restrictions imposed by donors.

The trustees of the receiving charity have resolved to continue to recognise these balances as designated funds for the same purposes following the combination of activities transition. However, in line with charity law and accounting requirements, these funds remain unrestricted and the designations may be amended or removed by the trustees of the receiving charity should they consider this to be in the best interests of the charity and its beneficiaries.

This event occurred after the reporting date and therefore has not been reflected in the figures included in these financial statements.

23. Controlling party

The Charity is controlled by its Trustees as listed on page 1.

Page 20