YOUNG FARMERS, CLUBS OF ULSTER EXECUTIVE COMMITTEE REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2023 The Executive Committee present their annual report and financial statements for the year ended 31 August 2023. The financial statements have been prepared in accordance vth the accounting policies set out in note 1 to the financial statements and comply the Assouation's Artides of Association, the Companies Act 2006 and °Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. las amended for accounting periods commencing from 1 January 2016) Objectlves and activities The work of the Association's is guided by the mission statement". to en(rage individual development, creativity, initiative and contribution for the benefft of members, the associion. and the community." And this is applied under the StrategICm$ and Operational Objectives set out in Association's Strategic Plan. As the largest rural youth organisation in Northeffl Ireland. we inspire our active membership to flourish through the development of lrfe skills and educatson, while serling the wider rural communty as part of a vibrant, inclusive organisation, underpinned by strong govefflan. As a volunteer led organisation we nurture and develop young pewe by encouraging participation in a sèlection of innovative and often unique opportunities in education, training, petsonal development and fun. Our Values ErrfJaging positively our members and communicating the good Encouraging growth, development and participakn'on through all opportuntiies Having a posibve impact on our people. our communty and our environment People & Partnershlps To have highly valued, enthusiastic and committed members arKI staff, who work together to make YFCU & each other the best they can be, by mmmunicating and engaging with local partners, Sectoral groups and having a positive impact on our local rural communities. Encourage & Equlp To deliver a portfolio of programmes, ac'vities and resour that encourage members to engage and grow, whilst equipping them with the tools and skills needed to develop. Relevant & Reslllent To be relevant in our mission as Northem Ireland's leading rural youth organisation, using our position to encourage strong communities and build resilient famiers for the fijture. Our Commltment Our People To grow our membership as a yOLJth shaF*d organisation where everyone is valued, encouraged and equipped to grow to their full potential To provide a rewarding portfolio of ath'wties. events and opportunibes. where people are encourJ¥d, rewarded and recognised.
YOUNG FARMERS. CLUBS OF ULSTER EXECUTIVE COMMirrEE REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Our Community As a member-led organisation. we seek to make a ndaMents1 differen to young people living in Nl, specifically rural and isolated areas, and tPEir as%)ciated communiknes. To provide our services and programmes through our dubs vthich are geographTrcally spread through rural Nl and in collaboralion with local community groups and partners. Our Envlronment As famiers of the future. YFCU seeks to educate thr members to be able to make sustainable, efficient and profitable environmentally friendly choi. To encourage environmental sustainability and good farming pradio wthin YFCU dubs. members and their families. Achievements and perft>miance The Association has key performance indicators. membership and participation. Membership increased by 600kn back to pre•Covid levels. Participalion rates in the Assouation's programme of training and ¢ompetitions once again increased, reaffimiing the relevan and value of these to the membership. Proficiency Award Scheme- Rewarding Members en a member competes in the ¢entral competiiions they a awarded a profiGncY. Profiaencies are awarded as follows.. An award of Merit (40%} is worth 1 point An award of Distinction (75%) is worth 2 points The competilion year njns from 1 st September- 31 stAugust. All members were issued with a certtficate. Level 10 plus are presente(I with badges at the AGM & Conference. During 202212023 a total of 2.091 rknficateS were issued to recognise memberfs parb¢ipation in YFCU activities. We also have the Presidenfs Award Scheme during the year to reward members partiapating OLrtside competition. Child Protection Training Child protection training continues to be a priority for the Association. During 202212023 a total of 59 members took part in the Keeping Members Safe training. As part of our child protection strategy, the YFCU conlinues to ensure that staff, key elected officials and volunteersl trainers are checked through A¢$$ Nl. All members, parents and office bearers are provided th a¢sS to the Association's child protection policies and procedures. External Scheme YFCU continues to be a centre for the Duke of Edinburgh AvrdS Scheme, thus giving our members the opportunity to take part in this challenging and highly rewarding youth development programme. This year, we had 16 members achieve their bronze awards. 12 members athieved their silver award and 6 gold award reupients. Investment Perft)nnance The YFCU continues lo attempt to source the best rate for unrestricted and restricted funds in the fixed tem 'Corporate Acci)unt' although in this low investment rate environment. the rates achieved are poor. Investment in UK listed investments delivered interest income of £14,491 (2022.. £12.665} while Endowmènt nd showed a l¢)ss of £9.933 (2022: loss £7.086) from a balan of £329.470 at 1st September 2022.
YOUNG FARMERS. CLUBS OF ULSTER EXECUTIVE COMMirrEE REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Financlal review As in previous years the Association's core funding is from grants. provided by Education Authorty (EA) and Department of Agriculture. Environment and Rural Affairs {DAERA). In addition to grants, monies are raised from donats'ons, sponsorship, membership and competition fees. This year there was an increase in income of £121,557 (2022.. Increase of £992.562). Overall the A¢counts show a surplus of £193,621 12022: surplus £168,386). A Headquarters deficit of £32.921 is recorded (Incle5 endowment deficit). The principles of'best value, and 'added value, continue to be appSied to all expenditure and adivities undertaken. It is the policy of the Association that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and stx-month's expendf(ure. The Executive Committee considers that reserves at this level will ensure that. in the event of a significant drop in funding, they wll be able to continue the Association's cuent activities while c¢51deratiOn is given to way5 in which additional funds may be raised. This levd of reserves has been maintained throughout the year. The Executive Committee has considered the level of reserrfes required and has agreed a policy where the unresln'ded funds not committed or invested in tangible fixed assets held by the charity should be btheen 9-12 months of unrestricted annual expenditure. The unrestricted funds not committed or invested in tangible fixed assets at 31 August 2023 are £455,219 wth the unrestricted annual expenditure range being £194,942 (g months) to £259,922 (12 monlhs). The reserves hdd are currently in excess of the agreed reserves policy. The Executive Committee has assessed the major risks to which the Assoaation is exposed. and are satisfied that systems are in pla to mitigate exposure to the major risks. The Executive Committees. assessment of the major risks has identified that loss of govemment grants is the major financial risk for the charity. A key element in the management of financial risk includes active discussion wth the fvnders and regular review of funds and active management of trade debtors and creditors balances to ensure sufficient working capstal. Attention has also been focused on non-financial risks arising from fire. health and Safety. child protection, liligation. etc. These risks are managed by ensunng robust policies and procedures are in place and regular awareness training for members in these areas. A child Protection Officer is employed to ensure Access NI compliance and stsff training is availa1e. Structure. govornance and management Th8 Young Farmerfs Clubs of Ulster (YFCU) is a charitsble ¢offlpany limited by guarantee. incorporated on 1 st November 1957 and registered as a charty on 6th February 1967 wilh the Inland Revenue. On the 23rd February 2015 YFCU registered with the Charity Commission for Northem Ireland. The company was established under a Memorandum of Association whith set up the objects and powers of Ihe charitable company and is govemed under its Articles of AssocIatn which were revised at the AGM in 2017. In the event of the company being wound up. members are required to contribute an amount not exceeding £1.
YOUNG FARMERS, CLUBS OF ULSTER EXECUTIVE COMMITTEE REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 The directors of the company a also tharity trustees for the purposes of charity law and under the company's Articles are known as members of the Executive Committee. Under the requirements of the Articles ofAssocAation. members of the Executive Committee are elected to serve for a period of one year after whith they must be nominated and dected at the nexl Annual General Meeting. The Executive Committee comprises of the.. 1. President 2. Immediate Past President 3. Deputy President 4. Vice-Presidents {4} 5. Hor)orary Treasurer of the ASSOallOn 6. Two representatives nominated by each County Committee 7. Chairman and Vice Chaimian of each Su&Committee appointed by that Committee 8. One representative of the Ulster Famiers. Union 9. Two representatives of the persons ccpopted to the County Commrtiees 10. Chief Executive Offir of the Assouation (withoLrt vote) 11. Two persons C¢>OPted by the Exeothive Committee 12. One ctropted as a YFCU representsts've on Rural Youth Europe Board If appropriate. the Executive Committee may also include the stsnding Board member representing the Association on the Board of Rural Youth Europe. And if dered. one Life Member of the Association (ex officio). As a young person's organisation the focus of the Executive Committee is ensuring that the developmental need of this group are appropriately reflected throughout its membership and activities. To embed this, members nominated ftjr election to the Executive Commfftee by County Committees must directly represent the membership of senior dubs. The Chartty indemnifies every relevant Trustee against any liabilty incurred in sucGessfvlly defending legal proceedings in that capacity. or in connection any application in which Telief is granted by the Court from liabilrty for negligence. default or breach of duty or breach of trust in relation to the Charty. The companvs Current policy concerning the payment of trade credttors is to follow the CBI'S Prompt Payers Code (copies are available from the CBI, Centre Point. 103 New Oxford Street. London 1clA 1 DU}. The ¢ompanWs current policy concerning the payment of trade credith 15 to: settle the tems of payment wth suppliers when agreeing the lemis of each transaction", ensure that sUpplr$ are made aware of the terms of payment by indusion of the relevant temis in contracts; and pay in accordan wth the company's ContraUal and ottr *al obligations. Trade creditors of the company at the year end were equNalent to 14 davs purchases, based on the average daily amount invoiced by suppliers during the year.
YOUNG FARMERS. CLUBS OF ULSTER EXECUTIVE COMMIThEE REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 The governing body of the Association is the Council lch meets annually at its AGM in April. The Council appoints an Executive Committee of up to 29 members with the power lo manage and administer the business of the Association. The Executsve Committee rneets a minirnum of six times per year. At its firsl meetsng the Executive Committee annually elects a Special Pury)oses Cofflmittee that reports to it on delegated issues such as finance. personnel and strategy. In addition it appoints two Sub comrnittees which nomially meet >5 limes per year and report to the Execulive Committee on aspects of the Association's aelivities. The ongoing role of these committee5 IS review by the Executive from time lo time_ These sub committees are Programming & Development and Agri & Rural Affairs. The Chief Executive Officer is appointed by the Executive Commrtlee to manage the day to day operations of the Association and supeNision of the staff team. While member5 elected to the Association's Execut"ve Committee are aladY familiar with the practical WOTk of the Association, they atlend the Executive Board training weekend in April each year to familiarise themselves with aims of the ASSoatiOn and their role. responsibilits"e5 and duties as director5. These events are jointsy led by the Chair of the Executive Committee and the Chief Executive Officer. Over the last few yèars these residential events have wvered areas such as govemance. CRED, directors, duties, policies, o)mmunication, finance, departmentsl priorities. strategic planning and have involved inlemal and external speakers. The content is reviewe(18ach year in line with strategic need and skill set shortages. All Sa18ries and Temis and Conditions are considered by the Speoal PurFKJses Committee on an annual basis and ratified by the Executive {8oardl. The Ex8CUtive Committee receives support from the Education Alrtrity (EA) and the Department ofAgri¢ullure, Environment and Rural Affairs IDAERA) who fund the work of the Association in providing training and social education opportunities for young people in our rural communities. Members and staff sil on organising commillees and wthing parties of a number of Groups induding the EA Regional Advisory Group, the Rural Development Programme Monitoring Committee. The open Fami Weekend Working Party. The Fami Safety Partnership. the Regional Voluntsry Youth Organisalions. Reference Group IRVYO Network) and Committees overseeing the work of Grassroots Challenge and Peace IV programmes. Auditor In accordance with the company's articles. a resolution proposiThJ that Harbinson Mulhdland be reappointed a5 auditor of the company will be put at a General Meeting_ The Executive Comm"rttee report was approved by the Board of Executive Committ8e. f LJ L(F, Mr Richard Boattie Chair, Executive Committee Mr Robert Esler Honora Dated:
YOUNG FARMERS. CLUBS OF ULSTER STATEMENT OF EXECUTIVE COMMIThEE RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2023 The Executive Committee. who are also the directors of Young Fanners, Clubs of Ulster for the purpose of company law, are responsible for preparing the Executive Committee Report and the financial ststements in a(rdance wth applicable law and United ngdoM Accounting Stsndards {United Kingdom Generally Accepted Accounts'ng Practice). Company Law requires the Executive Committee to prepare financ4al statements for eath financial year whi¢h give a true and fair view of the state of affairs of the Association and of the incoming resources and application of resources, including the income arKI expenditure. of the charitable company for that year. In preparing these financial statements, the Exeujtive Committee are required to: - select suitable accounting poliaes and then apply them consistently; - observe the methods and princie$ in the Charities SORP,. - make judgements and estimates that are reasona18 and prudent, stste whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the finanaal statements; and prepare the financial statements on the going concem basis unless it is inappropriate to pr8sume that the Association will continue in operatui. The Executive Committee are responsible for keeping adequate accounting records that disclose reasonable accuracy al any ts'me the financial position of the AssocIatn and enable them to ensure that the financial statements comply with the Companies Act 20C6. They are also responsible for safeguarding the assets of the Association and hence for taknng reasonable steps for the prevention and detection of fraud and other irregularities.