Campary r•gl8tratlon numb•r N1003964
YOUNG FARMERS. CLUBS OF ULSTER, THE
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

YOUNG FARMERS. CLUBS OF ULSTER. THE
LEGAL AND ADMINISTRATIVE INFORMATION
Exacutlve Committee
Mr PeterAlexander
Mr Bob Esler
Mrs Kristina Flemlng
Mr Stuart Mllls
Mr Rlchard Beattle
Mr Matthew Llvlngstone
Ms Shannen Vance
Ms Laura Patt8Fson
Miss Joyce Allen
Mlgs Rachel Smlth
Mr Tlmothy Keys
Mr Phllip Donaldson
Mr18n Walker
Ms Elrlnn Braniff
M5 Jll Balfour
Ms Soph18 HavAhom8
Mr Mlkhell Park
Mr Garelh Rltchle
Ms Lauren Vance
Ms Karen Walker
Mr Matthow Wlson
Miss Elbzabeth Adalr
Mr laln Wlson
Mr Dylan Walker
Mr Dani81 Thornton
Mr Glyn Surgenor
Mi88 Emma Knox
Ml8s Zara Fulton
Mlss Natalle Burrows
Mr Martyn Bl8Sr
Mlss Helen Lalrd
(Appolnted 20 Aprll 20241
(Appolnted 20 Aprfl 2024>
IAppolnt6d 20 April 2Q24>
(Appdnt8d 20 April 2024)
(Appolnted 20 Aprll 2024)
(Appointed 20 Apnl 2024}
(Appointed 20 Aprll 2024)
Chl•f Ex•Gutlvo Offlcor
Derek Lough

YOUNG FARMERS. CLUBS OF ULSTER, THE
LEGALAND ADMINISTRATIVE INFORMATION
Secretary
Cyphar Sevices Limlted
Ch•rJty number
100972
Compony numbor
N1003964
RegI61•r￿ 0ffi¢o
50 Bedford Street
Belfast
BT2 7FW
Audtor
Harblneon Mulhclland
6th Floor E8St Tower
Lanyon Plaza
8 Lanyon Placa
Belfast
Co. Antrlm
8T13LP
Banker•
Dan8ka Bank
PO Box 183
Doneg811 Square West
Belf08t
BT16JS
8ollcllors
Cleaver Fulton Rankln
50 Bedlord Street
88lfa8t BT2 7FW

YOUNG FARMERS. CLUBS OF ULSTER, THE
CONTENTS
Page
Executlve Commltte8 report
Statement of Exoujtlve Commltteè respon8lbllltig$
Inde￿dent auditofs roport
Statement of flnanclal activltles
10
Balanca 8h8et
Statem8nt of cash ilows
13
Not08 to the Ilnandal st8ternnts
14-28

YOUNG FARMERS. CLUBS OF ULSTER, THE
EXECUTIVE COMMirrEE REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
The Exe(xJtNe Committee present their annual report and financial statements for the year end6d 31 August
2024,
The flnancial stat8ments hava been prèpared In accordance with the accountlng policies sat out In note 1 to the
financial Statements and comply wlth the Association's Articles of Associalion, the Companles Act 2006 and
'Accounting 8nd Reporting by Ch8rities'. Statem8nt of Recommended Pracb'ce applicable lo charities preparing
IheK accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland
{FRS 102)" {as amended for accounting periods commenclng from 1 January 2016)
ObJ•ctlvts and a¢llvltl•8
The work of Ihe Assoclab'on's is guided by the mlssion statement:
to encourage indlvidual development.
¢r8atlvlty, InI￿atIve 8nd conlributlon for the ben8111 of mernbgrs, the assoclatlon, and th8 ￿mmUnIty.,
A8 the largo8t rural youth organisation in Northem Ireland, we Inspire our acllve membership to flourfsh Ihrough
the development of lffe skills and educatlon. whllg s&rvSng the wider rural comrnuniiy a$ part ol a vlbrant,
Incluslvg organisation, underplnned by strong goY&rnance.
As a volunteer led organlsalion we nurture 8nd develop young people by encouraglng particlp8tlon In a seleclk)n
of Innovalive and often unlque opportunStle8 in educatlon, Ir8inlng, personal development and fun.
Our Valu•s
Engaglng posltlvely wllh our members and communicallng the good work we do
Encouraging growth, development and p8rt1clpatlon through all opportunitles
H8vlng 8 PO8ltlve IM￿Ct on our people. our communlty and our envlronrnenl
Peoplo & Partnerships
To have hlghly valued, enthus188tiG and cornmitted members and gtaff, vtho work together to make YFCU &
88ch other the best they can be, by communicatlng and engaging with local partner8, 50Gioral groups and
hamng a posllive impact on our local rural communllies.
Encourage & Equlp
To dellver a portfolio of programmes. activltles and resources that encourage members to engag8 and grow,
whilst equipping them with the tod5 and skills needed to develop.
R•l•vant & Re•lll•nt
To be relevant In our misslon as Northern Ireland's leading rural youth cryanisalion. uslng our positlon to
encourage strong communltles and bulld reslllonl farmers for the future.
Our Commltment
Our Peopla
To grow our membershlp as a youth shaped organisatlon wh8re everyone is valued, en¢¢uraged and equlpped
lo grow to their full potentiai
Our Comrnunity
As a member-led organlsatlon, w8 seek to make a fundamental dSfference to young people Ilvlng In Nl,
specifically rural and isolated areas. and their assoclated communilles.
To provlde our servicas and prTrJramme5 through our dubs whith are geTrJraphirally Spread through rural Nl and
in collaboratlon wlth local cornmunlty groups arKJ partner5.
Our Environment
As farmers of the futu￿, YFCU 8eeks to educatg their memb8rs to be able to make sustsinatle. efficient and
profitable envlronmentally frlendly Ghoice$.

YOUNG FARMERS. CLUBS OF ULSTER, THE
EXECUTIVE COMMITTEE REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST2024
Achievements and perfonTranc•
The Associ8tion has ￿0 key perfomiance indicators, membership and participation. Membership Incr88sed
refieclin9 a strong and engag8d community. Participation rates in the Association'8 programm8 of training 8nd
compelltions once again increased. reaffirming the relevance and value of these lo the membershlp.
Proficiency Award Scheme- Rewardlng Members
When a member cornpetes in the central compelitlons they aro awarded a proficl8ncy. Profflclencles are awarded
as follows..
An award of Merll (40%) Is worth 1 polnt
An award of Dlstinction (75%) is worth 2 points
The compelltion year runs from 1st Septomber- 31st AugusL Durlng 202>2024 8 total of 1.900 certSflcai8s
were Issued lo recognise the members, p8rticipatlon In the YFCU aclivltles.
In 2023-2024 Young Farmers, Clubs of Ulster IYFCUI Inlroduced Culllvatlng Young Leaders prograrnme,
desSgned to empower and 8duc8le members aged beNveen 18 and 30 of which 16 youn9 people completed.
Chlld Protocllon Trnlnlng
Chlld pwotedion training continues to be a prfority for the A880ciation. Durlng 202312024 a total of 148
members took part in the Safeguarding training.
As part of our child protectlon str8legy, the YFCU conllnues to ensure that staff, key elected offlcl81s and
volunteer51 tralners are th￿ked through Access NI. All members. p8rents and office bearers are provlded
with acc866 to the Association's chlld protectlon pollcies and procedures.
External Scheme
YFCU continues lo be a centre for the Duke of Edinburgh Awards Scherne, thus givlng our mernbers the
opportunity lo take part In this challenging and highly rewardSng youth development programme. Thi8 y88r, we
had 10 members achleve their bronze awards, 13 members achieved Ihelr sllver award and 15 gold awArd
redplants.
Flnanclal r•vl
As In p￿vIouS yèars the Assoclaiion's core fundlng is from grants, provided by Education Authorily (EA) and
Department of Agriculture, Envlronment and Rural AffalryJ (DAERA). In 8ddllion to granls, monies are r315od from
donations. sponsorship, membershlp and compelllion fees.
Thls year there was an decrease income of E67,565 (2023- Incre8se of £121.557}. Overall th8 Accounts show
a surplus before revaluation of properties of £121,980 12023: surplus £193,621). A Headquarters Surplus of
£13.523 Is recorded (includes endowment surplusl. The prlnciples of 'best value, and '8dded vBlue' continue lo
be applied to all expendiiure and activilies undertaken.
11 Is thg policy Df the A550clation that unrestricted fund5 whlth havo nol been designated for a specffic uso
should be mainlalned at a level equivalent to bekn8n threfr and 8ix-monlh'$ expenditure. The Executiv8
Committe8 conslders that reserves at this level wlll ensure that, In the event of a 9Sgnificant drop In fundlng.
they wlll be able to continue the Association's currenl actlvilies while ￿nSIderatIon is given to ways in which
additional funds may be raised. Thls level of reserves has been m8intained Ihroughout the year. The
Executive Commlttee has considered the 18vei of reserves required and has agreed a poliGy wh8re the
unrestricted funds nol ¢ommltted or Invested In tanglblg fixed assets held by the ¢harity should be beiween
12 month5 of unrestricted annual expenditure. The unreslrlcled funds nol committed or Invested In tangible
fixed assels at 31 Augusl 2024 are £654,991 with Ihe unrestrirted annual expenditur8 rang8 belng £216,502
(9 months) to £288.670 (12 months), The reseNe$ held are Cur￿ntlY in excess of the agreed re8eNes policy.

YOUNG FARMERS. CLUBS OF ULSTER, THE
EXECUTIVE COMMrrrEE REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
The Ex8CUtlve Committee has assessed the major risks to whiGh the Association Is exp068d. and are sati6fiwJ
that 8yStems are In place to mltlgat8 exposure to the malor risks.
The Executive Commlttees. assessm8nt oflh? major dsks has iden￿rIed that loss of govemment grants 1$ the
major flnanual rfsk for th8 Gharlty. A kgy element In the management of financial risk indud88 aGtive discussion
with the funders and regular revlew of funds and actlve management of trade d8btor5 and creditors balances io
8nsure surficSent worklng capltal.
Attentlon has also bèen focused on non-financlal r18k8 arlsing from fire, health and Safety. chlld prolectlon.
liligallon. et¢. These risks are managed by ensuring robust policies and procedures are in placo and regular
awareness Iralning for m&mbers In th8s8 areas.
StructUrn• govèrnance and managem•nt
The Young Farmers Clubs of U181er (YFCU) Ss a charlt8ble comp8ny Ilmltad by guarantee. Incorporated on
1st November 1957 and reglstered as a ¢harlty on 6th February 1967 wlth the Inland R6venue. On the 23rd
February 2015 YFCU regi81ered wlth the Charity Comrnlssion far Northem Ireland. The company w
e8tabli6hed under a Mem¢Jrandum of Assoclallon which set up the oblecls and powers of the charitable
company and Is govemed under Ils Articles of Assodalion whlch were rewsed at the AGM in 2017. In th•
ev8nt of the company belng wound up, members aré requSred to contrfbul8 an amount not exce?dlng £1.

YOUNG FARMERS. CLUBS OF ULSTER, THE
EXECUTIVE COMMirrEE REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST2024
The difeclors of the company are also charity Iru5tees for the wrposes of charity law and under the Gompany's
ArtiGles are known as members of the Executive Committee.
Under th8 requlrem8nts of the Artlcles ofA$soclalion, the members of the Executive Commlttee are elected to
serve for B period of one year after whl¢h they must be nominated and eleded at the r￿XtAnnUal General
Meeting.
The Executlva Committee compri888 of the:
1. Prasldent
2. Immedlate Past President
3. Deputy Presldenl
4. Mc&Presldent814>
5. Honorary Treasurer
6. Two representallve8 nominated by each County Committea
7. Chalrman ar)d Vice Chaiman of each Sub-Comm1tt88 appolnted by that Cornmitte6
8. One repre8entatlv8 of the Ulstér Farmers. Union
9. Two representativas of the persons co-opted to the County Commlttees
10. Chlef Executlve Offlcér of the A550clatlon (wlthoul vot6)
11. Two persons COvOPted by Ihe Executlve Commlttee
12. One COwOPted as a YFCU representstive on Rural Youlh Europe Board
If approprlate. the Executive Committoe may also include the standing Board member reprasonting the
Associallon on the 8oard of Rural Youth Europe. And if deslred, one Llfa Memb8r of th8 A880Giation {ex officiol.
AS 8 young person's organlsatlon the focus of the Executive Committ88 13 on 8nsuring Ihat the developmental
need of thi8 group 8re appropri8tely reflected throughout its merrtjership and 8dvSties. To emb8d this, members
nominated for el&ction to the Executlve Commlttae by County Committeea must direclly represent the
membership of #8nior clubs.
The Charity Indemnifies every relev8nt Truste8 agalnst any liabllity Incurred In succassfully dèfendlng legal
proceadlngs In that capacity, or In connectlon with any applicatlon in whlch rell8f is grantad by the Court from
Ilability for negligence, default or breach of duty or breach of trust In relation to tha Charity.
The companvs current pollcy conc8rnlng the payment of trade credltors Is to:
settle the terms of pa￿ent wllh suppllers when agreéing ihe terms of each transacuon:
ensure that suppller8 are made aware of the terms of payment by inclusion of the relevant terms in eontra¢ts,'
and
pay in accordanco with the company's contractual and other legal obligations.
Trade credltors of th8 company at the year end wer8 equlvalent to 14 davs purchases, based on the average
dally amount Involced by suppliers durfng the year.

YOUNG FARMERS. CLUBS OF ULSTER, THE
EXECUTIVE COMMrrTEE REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
The governing boty of the Assodation 15 the Council whlch meets annualty at its AGM in April. The Councll
appoints an Exacutive Committee of up to 29 members with the powar to manage and admlnister the
business of the Association. The Executive Committee meets a minimum of SIX times par year.
At Its first meetlng Ihe Execubve Commlttee annually elects a Special Purposes Committee (SPC) that
reporls to it on delegated Issues such as finance, personnel and slrategy.lhat reports to thè Executive
Committee on aspects of the Associallon's activities. There are four.
Cèntral ComrnSttees'. Pragrammes and Development IP&D), Agrltjjlture, Environment and Rural Affalrs
(AERA), Travel and Wellbeing and DevelopmenL
The Chlef Executsve Offlcer (CEO) Is appointed by the Ex8cullve Commlttee to manage the day-to4lay
operatlons of the Associallon and $upeTvislon of the stsff team.
Members elected to the Asso¢iatlon'8 Executlve attend the Executive Board tralnlng weekend each year lo
famlllarise Ihemsolves with aSrns of th8 A&8ocialion and their role, thelr responsibilities and theSr dutS8s as
dlrectors. These events arg ￿IntlY led by the Chalr of the Executive Commltteg and the CEO.
Over the 188t few years these residential events have covared areas such 38 governance, dlrector8' duties,
policies. communicalSon. finance. departmental priorilles. strategic plannlng and have Involved Internal and
8Xt8rnal speakers. The cont8nt Is revSew8d annually inline wllh strategic need and sklll Set shortages.
All 8a18ries and terms of condltlons are consldered by the Speclal Purposes Committee annually and ratlfled by
the Executive.
The Executlve Commlttee receives supwt from the Education Authorlty {EAI and the Department 0fAgrlcultu￿.
Environment and Rural Affalrs (DAERAI who fund the work of the AssoGiation In providing tralnlng and 8oclal
educ81ion opportunitiés for young people In our njral communities. Members and stsff sit on organising
committees and working parties of a number of Group8 including the EA Regional Advlsory Group. the Rural
Development Programme Monitoring Committee, The open Farm Weekend Working Party, The Farm Safety
Pathership, the Regional Volunlary Youth Organlsations, Reference Group IRVYO Nets¥orkl and Commlttees
overseeing Ihe work of Grassroots Challenge and Peac8 IV programm88.
Audltor
In accordan￿ wlth the compan￿5 artlcles, a resdutlon proposlng that Harbln80n Mulholland be reappointed as
audltor of the company wlll be put at a Genefal Meeting.
Dlsclosure of Informallon to audltor
Each of tt)e Executive Committ8e has confirmed that there is no Information of whlch they are aware whlch18
relevanl tu the audit. but of which Ihg 8uditar is un8ware. They have further confirmed that they have taken
appropriate 8tep8 to Sdentlfy such rn18vant informBtion and to 8Stablish that the auditor 18 awaro of such
informatton.
The Executive Comrnittee report was approved by the Board of Executfve Commlttee.
Mrs Krlstlna F
Chair, Ex
ming
Mr Robert E51er
Honorary Tre
Dated: XO
lttee
V'o&°:%95

YOUNG FARMERS. CLUBS OF ULSTER, THE
STATEMENT OF EXECUTIVE COMMITfEE RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2024
The Execulive Committee, who ar8 algo the directors of Young Farmers. Clubs of Ulster. The for the purpose of
company law, are responsible for preparing the Executive Committee Report and the fin8ndal statements in
8ccordancA with applicable law and United Kingdom Accounting Standards (United lQngdom Generally Accepted
Accounting Practice).
Company law requlres the Execullve Committee to prepare finandal ststements for each finandgl year whlch glve a
Irue and falr ￿eW of Ihe state of affalrs of the Assoclation and of the incomlng resources and applicatlon of
resources, including the Income and expendlture, of th8 charitable company for that year.
In preparing these financlal Statements. the Executive Commlttee ara requlred to-.
- select 8Uitable accountlng policies and then apply them consistsntly.,
- observe the methtyJ6 and Princlples In the Charili8s SORP:
- make judgements and ests'mates that are reasonable and Pfudenl,.
stale whelher appllcable UK Accountlng Standards have been followed, subject to any material departures
d18closed and explaln8d Sn the tlnanclal sta18m6nls,' and
prepare the finanaal ststements on the golrvJ concèm bas18 unless It 18 inapproprlate to pre$umo that the
Assoclation wlll Continue In operatlon.
The EKeCUtlve Commlttee are responslb18 for keeplng èdèquale accThJntlng record5 that dl8closo wlth reasonable
8ccuraGy at any ttme the financlal posSllon of the As80cialion and en8ble Ihem lo ensure that the finan¢lal
stst8m8nt8 comply wllh the Companies Aci 2006. They are 8180 Te8pon$ible for 38fegugrdlng the assets of the
Associatlon and hence for taklng reasonable steps for the prevontion and delectlon of fraud and olher Irregu18ri11e8.

YOUNG FARMERS. CLUBS OF ULSTER, THE
INDEPENDENT AUDITOR'S REPORT
TO THE EXECUTIVE COMMITTEE OF YOUNG FARMERS. CLUBS OF ULSTER, THE
Opinion
We hav8 audlled the flnancial 8tatemenls of Young Farrners. Clubs of Ulstsr. The (the 'Association'l for the year
ended 31 August 2024 which comprise the statement cffinancial activlles, the balance sheet, the statement of e2sh
flows and notes to th& financial statemenls, including significant accounting policies. The financial reporting
framework that has been applied In Ih8ir p￿paration 15 applicable law and United Kingdom Accountlng Standards.
Includlng Flnancial Reporting Standard 102 The Financial Reportlng Standard applicable in lh& UK and Republic of
Ireland (Unlled Kingdom Gener8lly Accepted Accounting Pracllc8)-
In our opinion. the financial statements..
glve a true and fair view of the slate of the charltabla company's affairs as at 31 August 2024 and of its
Incoming resources and appllcation of resources, for the year then ended.,
have been properfy P￿Pared in accordance wlth Unltad Kingdom G&ner8lly Accepled Accountlng Practlcg.
and
have been prepared In accordance wlth th8 requlramants of the Companies Act 2006.
8a$ls for oplnlon
We conducted our 8udlt In accordanc8 wllh Intemational Standards on Audlting (UK) {ISAs (UK)) and appllcablo
law. Our responsibllltles under those Standards are fvrther described In the Audilors retsponsibllth'es for fhfr audit of
the Ilnancial statements section of our report. We are independent ol the A650dation in accordance wllh the ethic81
r8quirements that are relevant lo our audlt of the flnanclal statements in Ihe UK. Includlng the FRC'S Ethical
Standard, and we have fulfilled our olher ethical responslbililles In accordanc8 wllh these requirements. Wa belleve
that the audit avidonce we have obtained is suffiGient and appropriate io provide a basis for our opinion.
Conclusions relating to golng concern
In 8udib.ng the financial 8talemenls, we have concludad that the Executive Committee use of the golng concem
basis of accounting In the preparation of the financial statements is appropriats.
Based on the work we have perfomad, we have not id8nllff8d any material uncertalntles relatlng to events or
condltlons that, Individually or collectively, may cast significanl doubt on Ihe A8sociallon'8 abllily to conllnue as a
golng concern for 8 perfcrfl of at leasl Iwelve months from when tha flnancial statements are authorl88d for Issue.
Our respon8lbilillas and the resp)n$lblllUes of th8 Execullve Commlttee with respect to golng con¢em are doscrlbed
In the felevanl 8ertlons of thls report.
othor inforniatlon
The other information comprlses the ir¢formalion included In the annu81 report othor than the financlal slaiemenls
and our audilorfs report thereon. The Executlve Commillee are responsibl¢ for th6 other information contained
wSlhin the annual report. Our opinion on the finand81 slalernents does not cover the other Snfomiallon and wè do not
express any fom of assurance condUs1￿ Ihereon. Our ￿sponsIbl111Y is to read ihe other infofmatlon and. In dolng
so, consider whether the other inf0m￿tion is materially inconsistent with the flnancial statement6 or our knowledge
obtained in the course of the audit, or othemlse appears to be materially mlsst81ed. If we Identify such malerfal
inconsistencles or apparent material misstatements, we are requ6￿ to detemilne whether this gives rise to
material misslalement in the financial statements themselves, If. based on the work we have perfomied, we
conclude that there Is a material misstalernent of this other Information, we are required to report Ihat facL
We have nothing to report in this regard.

YOUNG FARMERS. CLUBS OF ULSTER, THE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE EXECUTIVE COMMirrEE OF YOUNG FARMERS. CLUBS OF ULSTER, THE
Matters on whl¢h we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charlties Accounts and Reports
Regulatlons (Northem Ireland) 2015 requires us to report to you if, in our opinion..
the information given in the financial slat8ments is incon5iStent In any material respect wlth the Executive
Commtitee report,. or
suffici8nt accounting records have not been k8Pt' or
the flnandal st8tements are not in agreement with th8 8ccountlng records; or
we hav8 not recelved all the infomallon and explanallons we require for our audit.
Responslbllltios of Executlve Comrnitto
As explained more fully in the statement of Executlv6 Committe8 r6sponslbilitios, the Exewlivg Commltte8. who are
also the dlrectors of the Associatlon lor the purpo$8 of company law, are responsible for the preparation of the
flnancial statements and for being satisfied that Ihey give a true and falr view. and for suth Internal control as the
Executrve Commlttee delermlne Is necessary to enable the preparatlon of financlal slaternents that are free from
materfal mlsstalement, whether due to fraud or error. In preparing the financial statem8nts, the Executlvo
Cornmltlee are responsible for assesslng the Agsociation's ablllty to contlnue a$ a going concern. dlscloslng. as
applicable. matters re181ed lo going concem and using the going concem basis of accounting unless the Executive
Committee either intand to Ilquidale the ¢h8ritable company or lo cease operations, or have no rea118tlc alternative
butto do so.
Audltorfs responslbllltlos for th• audit of the financlal slaternenls
We have been appolntad as audStor under section 65121 of the Chorllles Act (Northern Ireland) 2008 gnd report In
accordance with the Act and rel8v8nl regulations made or having effect Ihereundar.
Our oblecllv88 are lo obtain reason8ble a&8uranc8 about whether the finanGlal statements as a whol8 are free from
malerlal mlsstatemenl, whether due to fraud or error, and to Is$u8 an audltorfs report that Includes our oplnlon.
Reasonable 888uranc8 is a hlgh level of assurance bul 18 not 8 guarantee that 8n audll conducted In accordance
wlth ISAS IUK) wlS1 always delecl a material misslatement when it exlsis. Misstalements can artse from fraud or
error and are considered material It, Individually or in the aggregate, they could reasonably be expected to Intluence
the economlc declsion8 of us8r6 takon on the basis of these finan¢l81 statement8.
Irregularltles. Indudlng fraud, are Instances of non-compllanca wlth laws and ￿gulatiOnS. We design procedures In
Ilne wlth OUT responslbllltles, outllned 8bove, lo detect materlal mlsstst8ments in respect of irregularities, Sncluding
fraud. The exlenl to whlch our procedures are capable of detecting IrregUla￿lIeS. including fraud, is detailed below.
Our approach to identifylng and ass858ing Ihg rlsks of ma16rlal ml8Statgment In iespect of Irregularlties, Includlng
fraud and non-compllance with laws and regulation5. Was as follows..
the engagernent partner ensured that the engagamenl team collectively had the appropriate competence,
capabilities and skills to identify or re¢ognise non-compliance with applicable laws and ￿gulatIOnS,.
we Identified the laws and regulations appllcable to the company through discussions with dlrectors andlor
senior management, and from our commerdal knowledge and experlence of the sector.
we focused on specific law5 Bnd regulations whlch we consldered m8y have a direct material effect on the
rinandal statements or the operations of the company, Including Companies Act 2006, taxation legi81ation.
dats protection, anli-bribery. employment. envlronmental and health and safety legislation
we assessed the extent of compliance wlth the laws and regulation5 klentifigd above through making
enqulrles of management and Inspecllng legal correspondence., and
identified laws and regulations were communicated wllhin the audit team regularty and the team remaln8d
lert to inslancps of non￿omPlIance throughout the audit.

YOUNG FARMERS. CLUBS OF ULSTER, THE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE EXECUTIVE cOMMI￿EE OF YOUNG FARMERS. CLUBS OF ULSTER, THE
We 8ssess8d the Susceptibilty of the compan￿9 financial statements to malerial misstatement. including obtalning
an understanding of how fraud might occur, by:
making enquiries of management as to where they Gonsidered thera was susceptibility to fraud. thelr
knowledge of actual. suspected and alleged fr8ud: and
considering the Intemal Gontrc4s In place to mitlgate risks of fraud and noTrcompliance wlth laws and
r8gulatlon8.
To addr8SS the risk of fraud through m8nagement blas and override of contro15, we..
perfomied analytlcal procedures to Identlfy any unusual or unexp8Cted relatlon8hips:
tested Joum81 entrles to Identify unusual Iransactlons;
895essed wh8ther judg8menls and assUrnPtion8 rnada In dètermlnlTrJ Ihe accountlng 8Stlmates set out in
Note 2 wero irbdicative of potential bl8s', and
investlg8t8d the rab"onale behlnd signlficant or unusual transactions.
In response to the rlsk ol Irregularltlas and rnrpcompllance wlth laws and regulattons, we deslgn8d procedures
whlch included, bul were not Ilmlt8d to-
agreelng financlal statement disc105ur85 lo underfylng supporting documenl81ion,'
reading the minutes of meetings of Ihose charged with govemance",
enquiring of management as to actual and potentlal litigation and clalms.
There ar8 Inherent Ilmtstlons In our 8udlt procedures descrlbed above. The more removed that laws and
regulations 8re from fin8nci81 transactions. the less Ilkely it 1$ that we would become aware of non-compliarsce.
Auditing standards also limit the audit pro¢edures rgqulred lo id8nllfy non-compll8nce wlth laws and regulallons to
enquiry of the directors and other man898menl and tha in$pe¢lion of regulatory and legal correspondence. If 8ny.
Mat8rial missla18ments that arise due lo fraud can be harder to deted Ihan those that arise from error as they may
Involv8 deliberate concealment or colluslon.
A fvrther descrlptlon of our responslbllltles Is av811abl8 on th8 Flnanclal Reportlng Council's website at.. http8:11
vMw.frc.org.ukJauditor8re8ponsibllitles. Thls descrfptlon foms part of our audtor's report.
Angela Cralgan {S•nlor Statutory Audltor)
for on behalf ol Harbinson Mulholland
Charterod Accountant
Stalutory Audltor
6th Fltr)r East Tower
Lanyon Plaza
8 Lanyon Place
Belfast
Co. Antrfm
BT13LP
Harbinson Mulholland is eligible for appointrn8nt as auditor of Ihe Assoclation by virtue of ilg eligiblllty for
appointmanl as auditor of a company under section 1212 ofthe Companies Act 2006,

YOUNG FARMERS. CLUBS OF ULSTER, THE
STATEMENT OF FINANCIALACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2024
Unrnstrlcted Restricted Endowrnent
funds
funds
fund5
2024
2024
2024
Total
Total
2024
2023
Notes
mea
endow
Donations and legacles
Charitable activ*tie6
Investments
Other Inc¢Jme
105,341
38,795
27,763
6,542
433,878
967,021
30,820
48,531
539,219
995,816
58,583
55,073
621,806
1.041,776
14,491
38.183
Total Incomo
178,441
1.470,250
1,848.691
1.716.256
Charitsble actSvit188
288,670 1,278,338
1,567,008 1,514,683
Net galn61{Ios8esl on Investments
12
1,355
31.677
7,265
40,297
(7,952)
Net (outgolnByln¢orning rgsourG••
bofore tran8forn
(108,874)
223,589
7,285
121,980
193,821
Gross transfers between funds
308,646
{172,449) 1136,1971
Net Incomlngl(outgolngl rosourceg
199.772
51,140
(128,932)
121,980
193.821
Other recognl••d galn• and 10g••s
Rgvaluallon ol tangible flx8d asselg
(1,549,091)
11,549,091 >
Ngt movomanl In fundi
199,772 (1.497.951) 1128,932} (1,427,111)
193.621
Fund balance8 at 1 Septomber 2023
455,219 4,810,402
319,537 8.585,168 5,391.538
Fund balance• at 31 Auqu•l 2024
654.991
3.312.451
190.e05 4,158,047 5,585,159
The statement of financlal acllv1ti8s includes all gains and losses racognised In the year.
The statemenl of financAal activlties Includes all gains and losses recogntsed in the year. All incomè and expondlture
derfva from contlnulng actIvi￿e9.
The notes on pages 14 to 28 fomi part ofthese financial Statements.
10-

YOUNG FARMERS. CLUBS OF ULSTER, THE
BALANCE SHEEr
ASAT31 AUGUST2024
2024
2023
Notes
Flxed 8•g0ts
Tangible assets
Investments
14
15
1,215,677
742.741
2.818.216
838.644
1,958.418
3.656,880
Curr•nt ass
Stocks
Debtors
Cash at bank and In harKJ
16
17
1.482
96,668
2,178.253
3.897
63.664
1,99),857
2,276.403
2,058,418
Credltor#: •nounts falllng du• wlthln
one year
176,7741
(130,119)
Net current assets
2,199.629
1,928.299
Total a••ots lus current li•bllltlos
4.158,047
5,585,159
Caplt•l fuThd•
Endowment rundB- general
Incoma funds
General reslrlcted funds
Revaluation reserve
21
190.605
319,537
3,312.451
4,023.706
786.697
22
3,312,451
e54.991
4,810.403
455.219
Unrestrlcted fund8
4,158.047
5.585.159
11

YOUNG FARMERS. CLUBS OF ULSTER, THE
BALANCE SHEEf (CONTINUED)
ASAT31AUGUST2024
The Gompany is entitled to the exemption from the oudlt requirement contalned in sectlon 477 of the Companies Act
2006, for thè year ended 31 August 2024, although an audit has been carried out under section 65 of the Charities
Act (Nll 2008. The membprs have not rgqulred Ihe company to obtain an audit of It5 financial statements under the
requirements of the Compani88 AGI 2006, for Ihe year In question in aw)rdance wlth 8eGlion 476.
The ExecutSve Committee acknowledge thelr re8p(￿sibIlItieS for ensuring that the charity keeps accounllng records
whlch comF4y with section 388 of the Act and for preparing financial slatemenls which give a true and fair view of
the state of affaits af the company as at tho end of the financial year and of its incoming resources and applicatlon
of resources. indudlng Its Income and exp8ndliure, for the flnancSal year In acoordan¢e with the requirements of
seGtlons 394 and 395 and which otherwise compty wSth the requlremenls of the Comp8nies Act 2006 relating io
finandal statements. so far as appllcabla to the o)mpany.
These financial statements have been prepared In accordancé wlth the provlsions applScable to companies subject
to the small companles reglme.
25 Iz12f
Thè fln8nclal 8tateman18 w8ro approved by th8 Executlve Commlttee on ..
Mrs Kri6tina Fle
Trusta•
Ing
Company Reglstrntlon No. N1003964
12-

YOUNG FARMERS. CLUBS OF ULSTER, THE
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
20ZJ
Notes
Cash flows from operatlng activltles
Cash (absorbed byyg9ner8ted from
op8rallons
28
(3,518}
219,408
Invosllng acllvlllos
Pu￿hase of tanglble flxed assets
PrOCe￿S from dlspwl of Investments
Inve8trnent income received
13,887)
136,198
58,583
(5.322)
14,491
Net cash g•nernt•d from Invwdtlng actlvltloB
190.914
9,169
Not cash g•n•rat•d from flnanclng actlvitl••
Not Incl•a￿ In ¢••h and cash •qulvahnts
187,396
228.577
Cash and cash equSvalonts at beglnning ol year
1,990.857
1.762,280
Cash and GT8h equfvalonts at ond of y•qr
2,178,253
1,990,857
13-

YOUNG FARMERS. CLUBS OF ULSTER, THE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounllng polkl88
Charity informatlon
Young Farmers, Clubs of Ulster is a private Company limited by guarant8e Incorporated in Northem Ireland.
The registered offiG8 is 50 Bedford Street. Belfast, BT2 7FW
1.1 Accountlng ¢onv•ntlon
The financial slalements have been prepared in accordanca with the As8oBiatlon'$ governing document, the
Companies Act 2006, FRS 102 "The Finan¢i81 R8POrting Standard appllcable in th8 UK and Republic of
Ireland. 8nd the Charities SORP "Accounting and Reporting by Charilies.- Statement of Recommended
Practice applicable to charllles preparing IheSr accounts In ac¢ordanc8 wllh the Flnancial Raporting Standard
applicable in tha UK and Republlc of Iraland {FRS 102)" The Assoclatlon18 a Public Ben8fil Enfjty as d8flned
by FRS 102.
The financlal statements are prepared In stedlng, which Is the fvnctlonal ujrrency of the Association.
Monelary amounts in Ih8se flnanclal statements are rounded to the neargst £.
The financial slalemenl8 have been prépared under the hlslorlc81 cost conventlon. [modffied lo Include the
revaluatlon ol freehold propert5es and to Indude Investment propertles and certain fin8n¢i81 Instrumen18 at falr
valueJ- The prlnclpal accounllng policles adopted are set out below.
1.2 Going conGgrn
At the time of approvlng the financlal s18lements, the Execullve Commlttee have a reasonable expectation
that the Association has adeqLFale resources lo contlnue in op&ralional existence ftjr the foreseeable future.
Thus the Exe¢uliv6 Committoe conlinu8 to adopt th8 golng tsjncern ba8ls of accountlng in proparing the
financlal statements.
1.3 Charitable funds
Unr881ricted funds are available for use at the dlscr8tion of the Executive Committ88 in furthorance of th8ir
haritable objectives.
Restricted funds are 8vbject lo specific conditlons by donors or granlorn as to how they may be u8ed. The
purposes and uses of the restrlcted funds are set out In the notes to the financial statements.
Endowment fund5 are subject to speclltc condltlons by doncfs that the capltal must be malntalned by the
Assoc18110n.
1.4 Incoming resources
Income is Tecognised when the Asso￿8110￿ 13 legally entilled lo It after any performance conditions have been
met. the amounts can be measured reliably. and it Is probable that income will be rec61ved.
Cash donations are recognised on receW)l. Other donatlons are reGognlsed once the Association has been
notified of the don81ion, unless perfomanc8 conditions requlre deferral of the amount. Income tax
recoverable in relallon to donatlons received under Gift Aid or deads of Govenant 18 recognised at the Ilme of
the donation.
Legacles ar8 recognlsed on recelpt or otherw188 If the AssoGiatlon h88 been notified of an Imp&ndlng
dlstribution. the amount is known, and receipt is expected. If the amount is not known. th8 legacy is traated as
a contingent asseL
14-

YOUNG FARMERS. CLUBS OF ULSTER, THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accountlng pollGIoS
{Continued)
1.5 Tanglble flxed assets
Tangible flxed assets are Inltlally me88ured at Cost and sub8equenlly me85ur8d at COSt or valu8tion, net of
deprectation and any impaimienl losses.
Depreclatlon is recognlsed so as to wrtte off the eost or valu8Uon of assets less thelr re81dual values over thelr
Useful lives on the followlng bases:
Fr88hold land and bullding8
Leasehold Improv8m6nts
Fixtures and fittingg
Over 50 years
2% 8traight Iln8
12.5%- 33.3% stralght line
rhe galn or loss srising on the disposal of an asset is d81am￿ned as th6 dlfference b8tsveen the sale
proceeds the carrwng valu8 of th8 899el, and is rècognised in th& st8tem8nt of finandal aGlivitS88.
1.6 Flx•d a¥8•t invostm•nts
Flxed asset inveslmgnts are Inllially measur8d at tran63Ction prtce excludlng transa¢Uon c08ts, and are
Subsequently me8sured at falr value al earh reporting date. Chang86 in falr value are recogni5ed In net
Inwmellexpendllure) for the year. Transactlon costs ara expènsod as Incurred.
1.7 Impairn1oni of fixed a81•ts
At each reportlng end d8te, the Associatlon reviews the carying amounts of its tanglble assets to delemine
wheth8r Ihere is any Indicatlon that Ihose assets have suffered an impalrmenl loss. If any such indicallon
exists, tho recoverable amounl of the asset is estimated in order to determine the extent of the impaimient
loss (if any).
1J 8lo¢k8
Stock8 are stated at th9 lower of cost and esfjmal8d 8elllng prl¢e 1888 costs to complete and sell. C08t
comprlges dSrect malerlals and, where applicable, direct labour costs and Ihose overheads that have been
incurred in bringlng the stock8 ta their present location and condition. Items held for dlslribution at no or
nomlnal conslderation afo measured th¢ lower of replacement cost and cost.
Net reallsable v8lu8 ts th8 8sllrnated selling prfce lass 811 e8tim8ted costs of complation and costs to be
inojrred in marketing, 3elllng and dislribulion.
1S Cash and cash oqulvalents
Cash and cash equival8nls indude ￿sh In hand, deposlts held at call with banks, other Short-temi 1Squid
investments with original malurltles of thr88 months or less, and bank overdrafts. Bank overdrafts are shown
wlthin bomwlngs in current liabilities.
1.10 Financlal Instruments
The Association has elected to appty the provlslons of Section 11 'Basic Financial Instruments. and Section
12 '0ther Flnancial Instruments Issues, of FRS 102 to all of its flnancial instruments.
Flnandal instrurnents 8re recognised in the Assoclatlon's balanc* sheet when the Associauon becomes paty
to the contraciual provislons of the instrufflenl.
Flnancial assets and liabilities are offset, with the net amounts presented in the financsal slatem8nts. when
there is a legally enforceable right to set off the recognised amounls and there is an intenllon to settle on a
net basls or to realise the asset and Settle the liablllty slmultaneousty-
15-

YOUNG FARMERS. CLUBS OF ULSTER, THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accountlng pollci•s
{Contlnued)
Baslc financlal assets
Basic financial assets, whl¢h include debtors and cash and bank balances. are inltlally measured at
transaction price including transaction wsls and are subsequently carried at amortlsed c05t using thg
effedlve interest method unless the arrangemonl conslitules a financin9 transaction. where the Iransaclion is
measured at th& pr85enl value of th6 future recelpts dlscounled at a market rale of Snlerest. Financial assets
classifiod as receivable within one year are not amortiséd.
8aw"c Ilnanclal Ilabilities
Basic financial liablllties, including creditors and bank loans are inltially recognlsed al transaction price unless
the arrangement constitutes a financlng transaction, where the debt instrument Is measured al the present
value of the future payments discounted at a market rate of Intsre8t. Flnanclal liabilltSes da6sified a8 payab18
wlthin one year are not amortlsed.
Debt in8lNments are subsequently carrled at amortised eost. uslng the effectlve inlere$l ral6 molhod.
Trade credltor8 are obllgations to pay for goods or Se￿iCe$ that hav8 been acqulred In the ordinary cours8 of
operations from suppliers. Amounts pay8ble are classified as current liabllilleE If payment is due withln one
year or less. If not, they are presented 8s non-curr8nt liabllities. Trade creditots are recognised Inltlally al
transaction prlca and Subsequently measured el 8mortised cost using the offeclive Interest m8thod.
Oerncognlllon of IlnanGlal Ilablll¢les
Flnancial Ilabilities are derecogni8ed when the A580ciation'5 contractual obllgations expire or are discharged
or cancelled.
1.11 Employee b•nefil•
The cosl of any unused holiday entI￿Ornent Is recagni8ed in the pgrfod Sn which Ihe employ88's service8 ar8
recelved.
Tomilnation benelits are recognis6d immedial8ly as an exwn88 when the A880clatlon is demon8tr8bly
commltted lo temiinats tha omployment of an employee or to wovide temlnation benetlts.
1.12 Rellrement benefits
Payments lo defined contributlon retlrement benefft schemes aro charged as an expon8a a$ thèy fall due.
Crltlcal accounllng •$tlmates and Judg•ments
In the appllcaUon of the Assoclalion's accountlng pollcles, the Executlve Commlttee are requirBd to make
ludgements, eslimales and as5umpllons about the carrying amount of assets and liabllllles that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical experien¢8
and other factors that are considered to be relevant. Actual results may differ from these esllmaies.
The esllmales and underfylng assumptions are revlewed on an ongoing basls. Revisions to accounllng
eslimales are recognised In the pariod in which the estimale is fevised where the revision affects only that
period, or In the perfod of the revision and future periods where th8 revlsion affects both current and future
periods.
Key *ourc•8 of estlmatlon uncértalnty
The annual depreciation charge depends P￿marIlY on the estimated lives of eath type of asset and, in certaln
clrcumslances, estlmates of residual values. Management regularly review these useful lives and thange
th•m if ngc•EEary lo roflgGt currgnt GondltlonG, ChangoG In Ihg U$9ful Iivgs can hav• a significant impart on
Ihe depreciatSon charge for the flnancial ygar. The net book value of Tanglble Flxed Assets subject to
depreciation at th9 financial year end date was £1,215,677 (2023: £2,818,2181-
16-

YOUNG FARMERS. CLUBS OF ULSTER, THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Income from donatlons and logaci•s
Unrestricted Reslrlcted
funds
funds
2024
2024
Total Unrestrlcted Restrlcted
funds
fund8
2023
2023
Total
2024
2023
Donatlons and gifts
Gr8nts
Membershlp fee$
105,341
151,639
308.202
79.378
96,515
31.784
436,588
56.919
128,299
436.588
56.919
808.202
79,378
105,341
433.878
539,219
96,515
525,291
621,806
Donallons and glfts
Ulster Farmers, Union
NFU Mutual Insurance
Soclety
Danske Bank
Dunbi8
Power Nl
Fance Valley Store
Rela Llla Howard
Foundatlon
Thoma8 Henry
Foundation
oth8r
11,000
11,000
8.250
8.250
30,000
7,500
8,000
5.000
7,000
30,000
7.500
8,000
5,000
7,000
30,000
8.000
2.790
2.790
5,000
9.667
9.667
16,000
15,841
16,000
62,139
46.298
24.724
31.784
56.508
105,341
46,298
151,639
96,515
31.784
128,299
Grants
Department of
AgriGulluro, Envlronment
and Rural Affalfs
Educatlon Authorlty
other
58,125
146,250
103,827
58,125
146,250
103,827
131,042
150,0(M)
155,546
131.042
150,000
155.546
308,202 308.202
436.588
17-

YOUNG FARMERS. CLUBS OF ULSTER, THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Charltablg actlvlll
2024
2023
Competltlon and 0th8r actlvllles
895,818
1,041,776
Analysis by fund
Unrestrlct8d fund8
R8Btrlcted fijnds
38.795
957.021
68,566
973,210
995.818
1,041,776
Invo•tm•nts
Unr•8trl¢tèd R•strlctsd
fund•
fund•
Total
Total
2024
2024
2024
2023
Income recelved from UK IiBted Inve8tmonts
Interest r8ceSvabl8
12,288
15,495
12.268
46.315
4,629
9.862
27,763
30,820
14,491
Oth•r Income
Unrestrletad Regtrlctad
funds
funds
Total
Total
2024
2024
2023
Other income
6,542
48,531
55,073
38.183
18-

YOUNG FARMERS. CLUBS OF ULSTER. THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Charilablo aGtlvitte8
Charitabla
activities
Educatlon
Authorlty
DAERA
Total
2024
Total
2023
Staff cos16
Competition costs
Travel & subslst&nce
Poslaga. statlonary & publlclty
Legal & professional fees
Clubs
98.225
138,934
9,861
73,592
48,544
218,361 278,497
138,934 129,1
17,744 20,187
2.412
15.312 11.279
763,580 688.370
1,420
1.206
1.206
15,312
763.580
1.025.912
81,261
49.170 1,156,343 1,128,471
Share of support CO818
Sh8re of govemance costs
248.377
8,280
90,707
63,301
402.385 377.932
8.280
8,280
1,282.569
171.968
112,471 1.567,008 1.514.683
An•ly•i$ by fund
Unr8Stricted funds
Restricted funds
288,670
993,899
288.870 259,922
112,471 1,278.338 1,254,761
171,968
1,282.569
171,968
112,471 1.567.008 1,514.683
Support Costs
Support Govemanco
¢ostS
2024
2023
stoff costs
Depredatlon
Premlses costs
Office costs
Bank charges
other costs
Clubs
Audit fees
79,368
57,316
8.900
53,135
1.270
21,032
181,365
79,388
57,316
8.900
53,135
1,270
21.032
181.385
8,280
83,446
58,838
8,900
52.780
2,103
17,436
154.209
8,280
8,280
402.386
8.280
410,666
385,992
Net movement In funds
2024
2023
The net movernent in fiJnd5 is Stated after chargingl(creditlng)'.
Fees payable for the audlt of the charity's financlal statements
Dopredatlon of ownèd tangiblo flxèd a$$ets
8.280
bl,J1b
8.280
19-

YOUNG FARMERS. CLUBS OF ULSTER, THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR EAIDED 31 AUGUST 2024
10 Ex•cutlve Commltte•
During the year two members of the execudve committee received a comblned horK)rarfum payment of £995
(2023: £995).
11 Employee•
The average monthty number of employees durfng the yearwas: 10
2024
Number
2023
Numbor
10
11
Employmont co•t•
2024
2023
Wage8 and salaries
Social secudty costs
Other pension c08ts
280,W26
17,134
19,869
318.602
16.535
26.806
297,729
361.943
There were no employees whose annual remuneratlon was more than £80.IK)O.

YOUNG FARMERS. CLUBS OF ULSTER, THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
13 Ta￿tIon
The charity is exempt from tax on income and gains falling wlthin seclon 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Galns Act 1992 to the exlent that these are applled to its charitable objects.
14 Tanolble fixed assots
Fre•hold land
L•aMI￿ld Fl%lur•• •nd
and I￿lIdI￿a$ lrnprovem•nts
tmlln
Tot•1
Cost
At 1 S8Ptember 2023
Addltlon8
Revaluatlon
2,877,333
120.636
223,895
3.867
3,221,864
3,867
(1,715,491)
(1,715,491)
At 31 August 2024
1,161,842
120,636
227.762
1,510.240
Dopreclatlon and Impalmiont
At 1 September 2023
Dapreclatlon charged In the year
R8valu8tion
166,401
46,260
{166,401)
24,071
2,476
213,176
403.648
57.316
(16e,401)
At 31 Augusl 2024
46,260
26,547
221,756
294,583
CJrylng amount
At 31 August 2024
1.115,582
94,089
6,006
1,215,877
At 31 August 2023
2,710.932
96,565
10,719
2,818,216
Dudng the year the club halls were independently valued by a thlrd party. They were valued on a market
valua basis as Op5￿0d to th8 dèpréciated replacemanl cost previously used. This resulted In 8 significant
decreaso in the value which has been aprAiad durlng th8 yoar.
15 Flx¢d aM•t Invegtrn•nts
Llstod
Unlisted
Invèslmont• Investments
Total
Cost or valuatioft
At 1 Septemb8r 2023
Valuation changes
Disposals
568.593
8.619
(136.198)
270,051
31.676
838,644
40.295
(136.198)
At 31 August 2024
441.014
301,727
742,741
Carrying amount
At 31 August 2024
301,727
742,741
AI 31 Auqust 2028
270,051
838,644

YOUNG FARMERS. CLUBS OF ULSTER, THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
15 Flxed amet Invgstmonts
{Contlnuod)
Flxod asset investments rovaluod
Invesbments are IrKluded at revalued amounts ba58d on valua￿0￿$ c8rrled out on the IrKlividual Investments.
16 Stock8
2024
2023
Fln18hed good8 and gwJ8 for resale
1,482
3,897
17 Dobtor•
2024
2023
Amounts talllng du• wlthln on• ymr;
Trade debtors
Other debtors
Prepaym8nts and accruad lftcome
2,624
1.433
S5,235
19,040
$6,668
23.664
2024
2023
Amounts falllng du• •ft•r more than ono year.
Other debtors
Total d•bt•rs
96,668
63.6e4
18 Crgdltors: amounts falllnB duo withln one year
2024
2023
other taxatlon and social s8curlty
Defgrrgd Income
Trad8 crediiors
other creditors
Accruals
482
35,666
18.196
19
90.041
21,238
4,134
14.706
17.821
76.774
130,119
-23-

YOUNG FARMERS. CLUBS OF ULSTER, THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
19 D•forr•d Income
2024
DAERA
Educatlon Authorlty
Rets Lita Foundation
Power Nl
other deferred InLx)mg
48.125
12,51K)
27,666
1,250
500
11,750
22,666
1,260
35,666
90,041
20 Rollr•mont b•nofit •chemo8
2024
2023
D•fln•d contrlbutlon schemes
CharyJa to profit or108s In respect of deflned conlrfbullon schemes
19.689
The Assoclatlon operate8 8 deflned contrlbullon p8nslon 8cheme for 811 qu8llfylng emplt)yee8. The a8sets of
the Scheme are hdd 88parately from those of the Assoclatlon In an IrKlependenlty admlnl818red fund.
-24-

r C41 V I
J (o o (o
rDNO
t￿(r￿￿

YOUNG FARMERS. CLUBS OF ULSTER, THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
22 Restricted funds
Thé restricted funds of the charity comprlse the unexpended balances of donation$ and grants held on Irust
sublecl to spe¢iffic conditions by donors as lo how they rnay be used.
Incoming
r¢•ourG•8
Resource8
•xpended
Transfers
Galns and At 31 August
losses
2024
S•ptembèr
2023
Club8 gnd
County
Commlttees
EA Reglonal
Strateglc Fund
DAE
The Award
Schem8
4.807,444
1.264,313
(992,337)
(249.554) (1.517.414>
3.312,452
2.959
146,250
58,125
(171,968)
<112,471)
22.759
54,346
1,582
(1,562)
4,810,403
1,470.250
(1,278,338)
(172,449) (1,517.414)
3,312.452
Prevlous year:
At1
Septamber
2022
Incomlng
r•sOU￿0&
R•sourceB
•xp8nded
Tran•fern
Gains and At 31 August
lo•s•s
2023
Club8 and
County
Commlttees
EA Réglonal
Strategic Fund
DAERA
The Award
Schèmé
DAERA Land
Mobillty
4,581,532
1,254,492
(892.309)
(139.419)
3.148
4.807,444
16,796
26,813
150,000
91,042
(163,837)
{122,585)
2,959
4,730
2,056
{2.056)
40,OXi
{73.974)
33,974
4,625,141
1,537,590
(1,254,761)
1100,7151
3,148
4,810.403
Fund transfer8 relate to the payment of mèmb8rshlp subscriptlons by clubs on behalf of Ihelr membgrs lo the
organlsation's head office and other transacllons between the dubs and the head office.
Additional transfer5 cover any overspend in the DAERA and EA funds.
-26-

YOUNG FARMERS. CLUBS OF ULSTER. THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
23 Unrestricted funds
The unreslrlcled fund5 of the charSty comprfse the unexpended balances of donatlons and grants vthlch are
not suble¢t10 3peclflc condllions by donor9 and grantors as to how they may be used. These indude
desonated funds which have been 8et aslde out of unrestrlcted funds by the trustees for speclfic purposes.
At1
Incomlno Re80urces
8aptember rnsource•
•xpended
2023
Transfers
Galns and At 31 August
los
2024
General fvnds
455.219
178.441
(288.670)
308.646
1,355
654,991
Pr•vlou• year:
At1
September
2022
Incomlng
r•sourc••
Rosour¢o•
•xp•nded
nsfers
Galn• and At 31 AugUBI
loss••
2023
G8n8r81 funds
436,927
178.666
(259.922)
100,715
11.167)
455,219
24 AnalyBls of n•t a880ts bolween fund8
Unrestrlcted
funds
2024
Re•trlctod Endowment
funds
funds
2024
Total
At 31 August 2024:
Tangible as88ts
Investmants
Currant 8S88t81(Ilabllltle8)
1,215,677
301,728
1,795,046
1,215,677
742,741
2,199,629
250,408
404.583
190,605
654,991
3,312,451
190,605
4,158,047
Unrnstrl¢t•d
funds
2023
Restrld¢d EndoTMnont
fvnds
fund•
2023
2D23
Total
2023
At 31 August 2023:
T8ngitAe assets
Investments
Current assetsl{liabllltle8)
4.485
249.058
201.678
2.813.731
270.051
1.726.621
2,818.216
838,644
1,928,299
319.537
455.219
4.810.403
319,537
5,585.159
25 Events after tha rgportlng date
There have been no slgnificanl gvents after the reportlng period.
-27-

YOUNG FARMERS. CLUBS OF ULSTER. THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
26 Related party transactions
There were no disdosable rèlated party tran8actlon8 during the yaar (2023- none).
27 Analy918 of change8 In n•t funds
The As80datlon had no material debt durlng the year.
28 Ca•h g•n•ratsd from oyratlo
2024
2023
(DefidtysufPUS for the year
121,980
193,621
Adjustments for.
Investment Incomg rgcogn188d In statement of financlal advities
Falr value (g8ln8) and loss85 on Inve8tm8nts
D8preclatlon and Impalrment of tangSble flxod asseis
(58.583)
(40,297)
57,316
(14.491)
Movements in worklng copItsI:
Decrea88 in Stocks
(Increase) In debtors
Increa8el(decrease) in credltors
(D8crea8e) In deferred In￿)rne
2,415
(33,004)
1,030
(54,375)
134
(8.287)
(11,860)
(6,499)
Cagh (ab•0￿￿ byVgon•ratad from op•r•tlons
(3,518)
219.408