2025-08-31-accounts

Company registration number NI003964

YOUNG FARMERS' CLUBS OF ULSTER, THE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

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YOUNG FARMERS' CLUBS OF ULSTER, THE

LEGAL AND ADMINISTRATIVE INFORMATION

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Executive Committee

Mr Peter Alexander Mrs Kristina Fleming Mr Stuart Mills Mr Richard Beattie Mr Matthew Livingstone Ms Shannen Vance Miss Joyce Allen Miss Rachel Smith Mr tan Walker Ms Eirinn Braniff Ms Jill Balfour Ms Sophie Hawthorne Mr Gareth Ritchie Ms Lauren Vance Ms Karen Walker Miss Elizabeth Adair Mr lain Wison Mr Glyn Surgenor Miss Emma Knox Miss Natalie Burrows Mr Martyn Biair Miss Helen Laird Mr H Chambers (Appointed 12 April 2025) . Miss A Coulter (Appointed 12 April 2025) Miss Rebecca Cromie (Appointed 12 April 2025) Mr J Keys (Appointed 12 April 2025) Miss J Mullan (Appointed 12 April 2025) Mr J Morrison (Appointed 12 April 2025) Mr Harry Crosby (Appointed 12 April 2025) Mr M Rodgers (Appointed 12 April 2025)

Chief Executive Officer

Derek Lough

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YOUNG FARMERS' CLUBS OF ULSTER, THE

LEGAL AND ADMINISTRATIVE INFORMATION

Secretary Cypher Sevices Limited Charity number 400972 Company number NIO03964 Registered office 50 Bedford Street Belfast BT2 7FW Auditor HM Chartered Accountants 6th Floor East Tower Lanyon Plaza 8 Lanyon Place Belfast Co. Antrim BT1 3LP Bankers Danske Bank PO Box 183 Donegall Square West Belfast BT1 6JS Solicitors Cleaver Fulton Rankin 50 Bedford Street Belfast BT2 7FW

Bankers

Solicitors

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YOUNG FARMERS' CLUBS OF ULSTER, THE

CONTENTS

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|||||||| |---|---|---|---|---|---|---| |a| |Page| |Executive Committee|report|1-4| |Statement|of|Executive|Committee|responsibilities|5| |Independent|auditor's|report|6-8| |Statement|of financial|activities|9| |Balance|sheet|10-11| |Statement|of cash|flows|12| |Notes|to|the financial|statements|13|-|26|

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YOUNG FARMERS’ CLUBS OF ULSTER, THE

EXECUTIVE COMMITTEE REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

The Executive Committee present their annual report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Association's Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The work of the Association's is guided by the mission statement: "... to encourage individual development, creativity, initiative and contribution for the benefit of members, the association, and the community."

As the largest rural youth organisation in Northern Ireland, we inspire our active membership to flourish through the development of life skills and education, while serving the wider rural community as part of a vibrant, inclusive organisation, underpinned by strong governance.

As a volunteer led organisation we nurture and develop young people by encouraging participation in a selection of innovative and often unique opportunities in education, training, personal development and fun.

Our Values

• Engaging positively with our members and communicating the good work we do

• ¢ Encouraging growth, development and participation through all opportunities ¢ Having a positive impact on our people, our community and our environment

People & Partnerships

To have highly valued, enthusiastic and committed members and staff who work together to make YFCU and each other the best they can be, by communicating and engaging with local partners, sectoral groups and having a positive impact on our local rural communities.

Encourage & Equip

To deliver a portfolio of programmes, activities and resources that encourage members to engage and grow whilst equipping them with the tools and skills needed to develop.

Relevant & Resilient

To be relevant in our mission as Northern Ireland’s leading rural youth organisation, using our position to encourage strong communities and build resilient farmers for the future.

Our Commitment

Our People

To grow our membership as a youth-shaped organisation where everyone is valued, encouraged and equipped to grow to their full potential.

Our Community

As a member-led organisation, we seek to make a fundamental difference to young people living in NI, specifically rural and isolated areas, and their associated communities.

To provide our services and programmes through our clubs which are geographically spread through rural NI and in collaboration with local community groups and partners.

Our Environment

As farmers of the future, YFCU seeks to educate their members to be able to make sustainable, efficient and profitable environmentally friendly choices.

YOUNG FARMERS' CLUBS OF ULSTER, THE

EXECUTIVE COMMITTEE REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Achievements and performance

The Association has two key performance indicators, membership and participation. Membership increased reflecting a strong and engaged community. Participation rates in the Association's programme of training and competitions once again reaffirming the relevance and value of these to the membership.

Proficiency Award Scheme- Rewarding Members When a member competes in the central competitions they are awarded a proficiency.

« An award of Merit (40%) is worth 1 point

• An award of Distinction (75%) is worth 2 points

The competition year runs from 1st September- 31st August. During 2024-2025 a total of 1,872 certificates were issued to recognise the members’ participation in the YFCU activities. In 2024-2025 Young Farmers’ Clubs of Ulster (YFCU) introduced Cultivating Young Leaders programme, designed to empower and educate members aged between 18 and 30 of which 16 young people completed.

Child Protection Training

Child protection training continues to be a priority for the Association.

As part of our child protection strategy, the YFCU continues to ensure that staff, key elected officials and volunteers/ trainers are checked through Access NI. All members, parents and office bearers are provided with access to the Association's child protection policies and procedures.

External Scheme

YFCU continues to be a centre for the Duke of Edinburgh Awards Scheme, thus giving our members the opportunity to take part in this challenging and highly rewarding youth development programme. This year, we had 11 members achieve their bronze awards, 7 members achieved their silver award and 3 gold award recipients.

Financial review

As in previous years the Association's core funding is from grants, provided by Education Authority (EA) and Department of Agriculture, Environment and Rural Affairs (DAERA). In addition to grants, monies are raised from donations, sponsorship, membership and competition fees.

This year there was an increase in income of £125,673 (2024: decrease of £67,565). Overall the Accounts show a surplus of £295,225 (2024: surplus £121,980). A Headquarters surplus of £111,751 is recorded (includes endowment surplus). The principles of 'best value’ and ‘added value’ continue to be applied to all expenditure and activities undertaken.

It is the policy of the Association that unrestricted funds which have not been designated for a specific purpose should be maintained at a level equivalent to between three- and six-month’s expenditure. The Executive Committee considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Association’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The Executive Committee has considered the level of reserves required and has agreed a policy where the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 9-12 months of unrestricted annual expenditure. The unrestricted funds not committed or invested in tangible fixed assets at 31 August 2025 are £736,400 with the unrestricted annual expenditure range being £275,249 (9 months) to £366,999 (12 months). The reserves held are currently in excess of the agreed reserves policy.

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YOUNG FARMERS' CLUBS OF ULSTER, THE

EXECUTIVE COMMITTEE REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

The Executive Committee has assessed the major risks to which the Association is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The Executive Committees' assessment of the major risks has identified that loss of government grants is the major financial risk for the charity. A key element in the management of financial risk includes active discussion with the funders and regular review of funds and active management of trade debtors and creditors balances to ensure sufficient working capital.

Attention has also been focused on non-financial risks arising from fire, health and safety, child protection, litigation, etc. These risks are managed by ensuring robust policies and procedures are in place and regular awareness training for members in these areas.

Structure, governance and management

The Young Farmer's Clubs of Ulster (YFCU) is a charitable company limited by guarantee, incorporated on 4st November 1957 and registered as a charity on 6th February 1967 with the Inland Revenue. On the 23rd February 2015 YFCU registered with the Charity Commission for Northern Ireland. The company was established under a Memorandum of Association which set up the objects and powers of the charitable company and is governed under its Articles of Association 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.

The directors of the company are also charity 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 of Association, the members of the Executive Committee are elected to serve for a period of one year after which they must be nominated and elected at the next Annual General Meeting.

The Executive Committee comprises of the:

1. President

2. Immediate Past President

3. Deputy President

4. Vice-Presidents (4)

5. Honorary Treasurer

6. Two representatives nominated by each County Committee

7. Chairman and Vice Chairman of each Sub-Committee appointed by that Committee

8. One representative of the Ulster Farmers’ Union

9. Two representatives of the persons co-opted to the County Committees

10. Chief Executive Officer of the Association (without vote)

11. Two persons co-opted by the Executive Committee

12. One co-opted as a YFCU representative on Rural Youth Europe Board

If appropriate, the Executive Committee may also include the standing Board member representing the Association of the Board of Rural Youth Europe. And if desired, one Life Member of the Association (ex officio).

As a young person’s organisation the focus of the Executive Committee is on ensuring that the developmental need of this group are appropriately reflected throughout its membership and activities. To embed this, members nominated for election to the Executive Committee by County Committees must directly represent the membership of senior clubs.

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YOUNG FARMERS' CLUBS OF ULSTER, THE EXECUTIVE COMMITTEE REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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The company's current policy concerning the payment of trade creditors is to: * settle the terms of payment with suppliers when agreeing the terms of each transaction; * ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and * pay in accordance with the company's contractual and other legal obligations.

Trade creditors of the company at the year end were equivalent to 14 day's purchases, based on the average daily amount invoiced by suppliers during the year.

The governing body of the Association is the Council which meets annually at its AGM in April. The Council appoints an Executive Committee of up to 29 members with the power to manage and administer the business of the Association. The Executive Committee meets a minimum of six times per year.

At its first meeting the Executive Committee annually elects a Special Purposes Committee (SPC) that reports to the Executive Committee on aspects of the Association's activities. There are four.

Central Committees: Programmes and Development (P&D), Agriculture, Environment and Rural Affairs (AERA), Travel and Wellbeing and Development. The Chief Executive Officer (CEO) is appointed by the Executive Committee to manage the day-to-day operations of the Association and supervision of the staff team.

Members elected to the Association's Executive attend the Executive Board training weekend each year to familiarise themselves with aims of the Association and their role, their responsibilities and their duties as directors. These events are jointly led by the Chair of the Executive Committee and the CEO.

Over the last few years these residential events have covered areas such as governance, directors’ duties, policies, communication, finance, departmental priorities, strategic planning and have involved internal and external speakers. The content is reviewed annually inline with strategic need and skill set shortages.

All salaries and terms of conditions are considered by the Special Purposes Committee annually and ratified by the Executive.

The Executive Committee receives support from the Education Authority (EA) and the Department of Agriculture, Environment and Rural Affairs (DAERA) who fund the work of the Association in providing training and social education opportunities for young people in our rural communities. Members and staff sit on organising committees and working parties of a number of Groups including the EA Regional Advisory Group, The Farm Safety Partnership and Department of Education Policy Reference Group.

Auditor

In accordance with the company’s articles, a resolution proposing that Harbinson Mulholland be reappointed as auditor of the company will be put at a General Meeting.

The Executive Committee report was approved by the Board of Executive Committee.

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Mrs Kristina Fleming
Chair, Executive ComHeo
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Mr iy
Honorary Treasurer
Dated: 13:2: 2026
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YOUNG FARMERS' CLUBS OF ULSTER, THE

STATEMENT OF EXECUTIVE COMMITTEE RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2025

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The Executive Committee, who are also 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 financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Executive Committee to prepare financial statements for each financial year which 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 and expenditure, of the charitable company for that year.

In preparing these financial statements, the Executive Committee are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Association will continue in operation.

The Executive Committee are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Association and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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YOUNG FARMERS' CLUBS OF ULSTER, THE

INDEPENDENT AUDITOR'S REPORT TO THE EXECUTIVE COMMITTEE OF YOUNG FARMERS' CLUBS OF ULSTER, THE i e

Opinion

We have audited the financial statements of Young Farmers' Clubs of Ulster, The (the ‘Association’) for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

• In our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, for the year then ended;

• • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• • have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Association in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Executive Committee use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Association's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Executive Committee with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Executive Committee are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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YOUNG FARMERS' CLUBS OF ULSTER, THE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE EXECUTIVE COMMITTEE OF YOUNG FARMERS' CLUBS OF ULSTER, THE Neeneeee e e e

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Accounts and Reports Regulations (Northern Ireland) 2015 requires us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the Executive Committee report; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit.

Responsibilities of Executive Committee

As explained more fully in the statement of Executive Committee responsibilities, the Executive Committee, who are also the directors of the Association for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Executive Committee determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Executive Committee are responsible for assessing the Association's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Executive Committee either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 65(2) of the Charities Act (Northern Ireland) 2008 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• • we identified the laws and regulations applicable to the company through discussions with directors and/or senior management, and from our commercial knowledge and experience of the sector;
• • we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation
• • we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
• • identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

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YOUNG FARMERS' CLUBS OF ULSTER, THE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE EXECUTIVE COMMITTEE OF YOUNG FARMERS' CLUBS OF ULSTER, THE

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• We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: * making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

• « considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

• performed analytical procedures to identify any unusual or unexpected relationships;

• ¢ tested journal entries to identify unusual transactions; ° assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 2 were indicative of potential bias; and

• ¢ investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: * agreeing financial statement disclosures to underlying supporting documentation;

• reading the minutes of meetings of those charged with governance;

• enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https:// www.fre.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Angelafor and onCraigan behalf of(Senior HM CharteredStatutory Auditor) Accountants

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Chartered Accountants

Statutory Auditor

6th Floor East Tower Lanyon Plaza 8 Lanyon Place Belfast Co. Antrim BT1 3LP

HM Chartered Accountants is eligible for appointment as auditor of the Association by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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YOUNG FARMERS’ CLUBS OF ULSTER, THE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025

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		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds
		2025	2025	2025	2025	2024
	Notes	£	£	£	£	£
Income and endowments from:
Donations and legacies	3	134,273	536,709	-	670,982	539,219
Charitable activities	4	62,864	911,330	-	974,194	995,816
Investments Other income	5 6	21,878 3,116	27,346 76,848	. -	49,224 79,964	58,583 55,073
Total income		222,131	1,552,233	-	1,774,364	1,648,691
Expenditure on: Charitable activities	7	366,999	1,175,719	-	1,542,718	1,567,008
Netgains/(losses) on investments	12	30,439	11,431	21,709	63,579	40,297
Net (outgoing)/incoming resources beforetransfers		(114,429)	387,945	21,709	295,225	421,980
Gross transfers between funds		195,838	(195,838)	-	-	-
Netincoming resources		81,409	192,107	21,709	295,225	121,980
Other recognised gainsand losses Revaluation oftangiblefixed assets		.	-	-	-	(1,549,091)
Netmovement in funds		81,409	192,107	21,709	295,225	(1,427,111)
Fund balances at 1 September 2024		654,991	3,312,451	190,605	4,158,047	5,585,158
Fundbalancesat31August2025		736,400	3,504,558	212,314	4,453,272	4,158,047

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 13 to 26 form part of these financial statements.

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YOUNG FARMERS' CLUBS OF ULSTER, THE

BALANCE SHEET

AS AT 31 AUGUST 2025

AS AT 31 AUGUST 202531 AUGUST 2025AUGUST 20252025	AS AT 31 AUGUST 202531 AUGUST 2025AUGUST 20252025	AS AT 31 AUGUST 202531 AUGUST 2025AUGUST 20252025	AS AT 31 AUGUST 202531 AUGUST 2025AUGUST 20252025	AS AT 31 AUGUST 202531 AUGUST 2025AUGUST 20252025	AS AT 31 AUGUST 202531 AUGUST 2025AUGUST 20252025
Dee ee
			2025		2024
	Notes	£	£	£	£
Fixed assets
Tangibleassets Investments	14 15		1,195,783 806,320		1,215,677 742,741
			2,002,103		1,958,418
Current assets
Stocks	16	-		1,482
Debtors	17	137,442		96,668
Cash at bankand in hand		2,408,098		2,178,253
		2,545,540		2,276,403
Creditors: amounts falling due within oneyear	18	(94,371)		(76,774)
Netcurrentassets			2,451,169		2,199,629
Total assets less current liabilities			4,453,272		4,158,047
Capital funds Endowmentfunds -general	21		212,314		190,605
Income funds
Restricted funds	22		3,504,558		3,312,451
Unrestricted funds			736,400		654,991
			4,453,272		4,158,047

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YOUNG FARMERS' CLUBS OF ULSTER, THE

BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025 aeSi The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2025, although an audit has been carried out under section 65 of the Charities Act (NI) 2008. The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

The Executive Committee acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Executive Committee on 13/2/26...

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Trustee

Company Registration No. NI003964

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YOUNG FARMERS' CLUBS OF ULSTER, THE

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025

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|||||||||| |---|---|---|---|---|---|---|---|---| |ee| |2025|2024| |Notes|£|£|£|£| |Cash|flows from|operating|activities| |Cash|generated|from/(absorbed|by)|28| |operations|192,266|(3,518)| |Investing|activities| |Purchase|of tangible fixed|assets|(11,645)|(3,867)| |Proceeds|from|disposal|of|investments|-|136,198| |Investment|income|received|49,224|58,583| |Net cash|generated from|investing|activities|37,579|190,914| |Net cash|generated|from|financing|activities|-|s| |Net|increase|in|cash|and|cash|equivalents|229,845|187,396| |Cash|and cash|equivalents|at beginning|of year|2,178,253|1,990,857| |Cash|and|cash|equivalents|at end|of year|2,408,098|2,178,253|

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YOUNG FARMERS' CLUBS OF ULSTER, THE

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

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1Accounting policies

Charity information Young Farmers’ Clubs of Ulster is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 50 Bedford Street, Belfast, BT2 7FW

1.1 Accounting convention The financial statements have been prepared in accordance with the Association's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland” and the Charities SORP "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)". The Association is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Association. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

• 1.2 Going concern At the time of approving the financial statements, the Executive Committee have a reasonable expectation that the Association has adequate resources to continue in operational existence for the foreseeable future. Thus the Executive Committee continue to adopt the going concern basis of accounting in preparing the financial statements.

• 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Executive Committee in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Association.

• 1.4 Incoming resources

Income is recognised when the Association is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Association has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Association has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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YOUNG FARMERS' CLUBS OF ULSTER, THE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

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FOR THE YEAR ENDED 31 AUGUST 2025
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1 Accounting policies (Continued)
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1.5	Tangible fixed assets
	Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
	depreciationandanyimpairmentlosses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings	Over 50 years
Leasehold improvements	2% straight line
Fixturesandfittings	12.5%-33.3%straightline

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.6 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. 1.7 impairment of fixed assets At each reporting end date, the Association reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financial instruments The Association has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Association's balance sheet when the Association becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle ona net basis or to realise the asset and settle the liability simultaneously.

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YOUNG FARMERS' CLUBS OF ULSTER, THE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 a

1Accounting policies

(Continued)

Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities Financial liabilities are derecognised when the Association's contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Association is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

• 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the Association’s accounting policies, the Executive Committee are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The annual depreciation charge depends primarily on the estimated lives of each type of asset and, in certain circumstances, estimates of residual values. Management regularly review these useful lives and change them if necessary to reflect current conditions. Changes in the useful lives can have a significant impact on the depreciation chargé for the financial year. Ihe net book value of Tangible Fixed Assets subject to depreciation at the financial year end date was £1,195,783 (2024: £1,215,677).

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YOUNG FARMERS' CLUBS OF ULSTER, THE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

a

3 Incomefrom donations and legacies	3 Incomefrom donations and legacies	3 Incomefrom donations and legacies	3 Incomefrom donations and legacies	3 Incomefrom donations and legacies	3 Incomefrom donations and legacies	3 Incomefrom donations and legacies
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds 2025	funds 2025	2025	funds 2024	funds 2024	2024
	£	£	£	£	£	£
Donations and gifts Grants Membershipfees	134,273 - -	39,227 388,671 108,811	173,500 388,671 108,811	105,341 . -	46,298 308,202 79,378	151,639 308,202 79,378
	434,273	536,709	670,982	105,341	433,878	539,219
Donations and gifts Ulster Farmers' Union	12,500	-	12,500	11,000	-	11,000
NFU Mutual Insurance Society Danske Bank	30,000 7,500	- -	30,000 7,500	30,000 7,500	- -	30,000 7,500
Dunbia Power NI	8,000 6,250	- .	8,000 6,250	8,000 5,000	- -	8,000 5,000
FaneValley	7,000	-	7,000	7,000	-	7,000
Reta Lita Howard Foundation	5,000	-	5,000	5,000	-	5,000
Thomas Henry Foundation Other	19,000 39,023	- 39,227	19,000 78,250	16,000 15,841	- 46,298	16,000 62,139
	134,273	39,227	173,500	105,341	46,298	151,639
Grants
Department of
Agriculture, Environment and Rural Affairs	-	127,978	127,978	-	58,125	58,125
EducationAuthority Other	- -	144,750 115,943	444,750 115,943	- -	146,250 103,827	146,250 103,827
	-	388,671	388,671	-	308,202	308,202

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YOUNG FARMERS’ CLUBS OF ULSTER, THE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

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|||||| |---|---|---|---|---| |a| |4Charitable|activities| |2025|2024| |£|£| |Competition|and|other activities|974,194|995,816| |Analysis|by fund| |Unrestricted|funds|62,864|38,795| |Restricted|funds|911,330|957,021| |974,194|995,816|

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• 5 Investments

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Tota!| |funds|funds| |2025|2025|2025|2024| |£|£|£|£| |Income|received|from|UK|listed|investments|4,600|.|4,600|12,268| |Interest|receivable|17,278|27,346|44,624|46,315| |21,878|27 ,346|49,224|58,583| |Other|income| |Unrestricted|Restricted|Total|Total| |funds|funds| |2025|2025|2025|2024| |£|£|£|£| |Other income|3,116|76,848|79,964|55,073|

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6 Other income

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YOUNG FARMERS' CLUBS OF ULSTER, THE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

ns

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|||||||||| |---|---|---|---|---|---|---|---|---| |7|Charitable|activities| |Charitable|Education|DAERA|Total|Total| |activities|Authority|2025|2024| |£|£|£|£|£| |Staff costs|132,094|65,124|51,812|249,030|218,361| |Competition|costs|125,714|20,482|21,492|167,688|138,934| |Travel|& subsistence|14,676|2,288|1,827|18,791|17,744| |Postage,|stationary &|publicity|2,740|211|1,777|4,728|2,412| |Legal|&|professional|fees|3,329|525|2,027|5,681|15,312| |Clubs|705,151|-|-|705,151|763,580| |983,704|88,630|78,935|1,151,269|1,156,343| |Share|of support|costs|276,688|57,274|49,207|383,169|402,385| |Share|of governance|costs|8,280|-|-|8,280|8,280| |1,268,672|145,904|428,142|1,542,718|1,567,008| |Analysis|by fund| |Unrestricted|funds|366,999|-|-|366,999|288,670| |Restricted|funds|901,673|145,904|128,142|1,175,719|1,278,338| |1,268,672|145,904|128,142|1,542,718|1,567,008| |8|Support|costs| |Support|Governance|2025|2024| |costs|costs| |£|£|£|£| |Staff costs|89,611|-|89,611|79,368| |Depreciation|31,539|.|31,539|57,316| |Premises|costs|8,900|.|8,900|8,900| |Office|costs|72,449|-|72,449|53,135| |Bank charges|344|-|344|1,270| |Other costs|9,296|-|9,296|21,032| |Clubs|171,030|-|171,030|181,365| |Audit|fees|-|8,280|8,280|8,280| |383,169|8,280|391,449|410,666| |9|Net movement|in|funds|2025|2024| |£|£| |The|net|movement|in|funds|is|stated|after charging/(crediting):| |Fees|payable|for the audit of the|charity's financial|statements|8,280|8,280| |Depreciation|of owned|tangible|fixed|assets|31,539|57,316|

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YOUNG FARMERS' CLUBS OF ULSTER, THE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

es

10 Executive Committee

During the year two members of the executive committee received a combined honorarium payment of £995 (2024: £995).

11. Employees

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|||||| |---|---|---|---|---| |The average monthly number of employees during the year was:|9|2025|2024| |Number|Number| |9|10| |Employment costs|2025|2024| |£|£| |Wages and|salaries|300,317|260,926| |Social|security costs|19,252|17,134| |Other pension|costs|19,072|19,669| |338,641|297,729| |The|number of employees whose annual|remuneration|was|more than £60,000| |is|as|follows:| |2025|2024| |Number|Number| |£60,000|- £69,999|1|-|

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YOUNG FARMERS' CLUBS OF ULSTER, THE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

i

13 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

14 Tangible fixed assets

Tangible fixed assets
	Freehold land	Leasehold	Fixtures and	Total
	and buildings	improvements	fittings
	£	£	£	£
Cost
At1September2024 Additions	1,161,842 -	120,636 -	227,762 41,645	1,510,240 11,645
At 31 August2025	4,161,842	120,636	239,407	1,521,885
Depreciation and impairment
At1 September2024 Depreciation charged in theyear	46,260 22,827	26,547 2,573	221,756 6,139	294,563 31,539
At 31 August2025	69,087	29,120	227,895	326,102
Carrying amount At31 August2025	1,092,755	91,516	11,512	1,195,783
At31August2024	1,115,582	94,089	6,006	1,215,677

15 Fixed asset investments

	Listed	Unlisted	Total
	investments	investments
	£	£	£
Cost or valuation
At 1 September2024	441,014	301,727	742,741
Valuation changes	52,146	11,433	63,579
At 31 August2025	493,160	313,160	806,320
Carrying amount
At 31 August2025	493,160	313,160	806,320
At31August2024	441,014	301,727	742,741

Fixed asset investments revalued

Investments are included at revalued amounts based on valuations carried out on the individual investments.

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YOUNG FARMERS' CLUBS OF ULSTER, THE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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16	Stocks
			2025	2024
			£	£
	Finishedgoodsand goods forresale		.	1,482
17	Debtors
			2025	2024
	Amounts falling duewithin oneyear:		£	£
	Other debtors		-	1,433
	Prepayments and accrued income		97,442	55,235
			97,442	56,668
			2025	2024
	Amounts falling due aftermorethan one year:		£	£
	Otherdebtors		40,000	40,000
	Total debtors		137 442	96,668
18	Creditors: amounts falling due within one year
			2025	2024
		Notes	£	£
	Othertaxation and social security		7,685	462
	Deferred income	19	35,769	35,666
	Trade creditors		22,363	18,196
	Other creditors		9,058	4,629
	Accruals		19,496	17,821
			94,371	76,774
19	Deferred income
			2025	2024
			£	£
	DAERA EducationAuthority		- 12,500	- 11,750
	Reta Lita Foundation		17,666	22,666
	Sponsors		4,300	1,250
	The Resilience Fund		1,303	-
			35,769	35,666

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YOUNG FARMERS' CLUBS OF ULSTER, THE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Nee ee eee een

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |20|Retirement|benefit schemes| |2025|2024| |Defined|contribution|schemes|£|£| |Charge to|profit|or|loss|in|respect of defined|contribution|schemes|19,072|19,669|

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The Association operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Association in an independently administered fund.

21. Endowment funds

Endowment funds represent assets which must be held permanently by the Association. Income arising on the endowment funds can be used in accordance with the objects of the Association and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

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|||||||||| |---|---|---|---|---|---|---|---|---| |At4|Transfers|Gains|and|At|31|August| |September|losses|2025| |2024| |£|£|£|£| |Permanent|endowments| |President's Appeal|Fund|9,901|-|1,134|11,035| |King|George VI|Leadership|Memorial|Fund|21,852|-|2,503|24,355| |Public Speaking|Competition|1,001|-|62|1,063| |Golden|Jubilee|Endowment|Fund|44,872|-|5,139|50,011| |Richard|Chalmers|Prize|Fund|1,301|-|80|1,381| |Clubs and|County Committees|111,678|-|12,791|124,469| |190,605|-|21,709|212,314| |Previous year:|At1|Transfers|Gains|and|At|31|August| |September|losses|2024| |2023| |£|£|£|£| |Permanent endowments| |President's Appeal|Fund|9,532|-|369|9,901| |King|George VI|Leadership|Memorial|Fund|21,037|-|815|21,852| |Public|Speaking|Competition|897|-|104|1,001| |Golden|Jubilee|Endowment|Fund|43,198|-|1,674|44,872| |Richard|Chalmers|Prize|Fund|1,166|-|135|1,301| |Clubs and|County|Committees|107,510|-|4,168|111,678| |Expendable|endowments| |Young|Farmers’|Clubs|of Ulster Trust|136,197|(136,197)|-|-| |319,537|(136,197)|7,265|190,605|

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The Young Farmers’ Clubs of Ulster Trust which was managed by DAVY was wound up during the financial year to 31.08.2024 with the funds deposited into a Fixed Term Deposit account.

YOUNG FARMERS' CLUBS OF ULSTER, THE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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22 ~=Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

	At1 September	Incoming resources	Resources expended	Transfers	Gains and At 31 August losses 2025	Gains and At 31 August losses 2025
	2024
	£	£	£	£	£	£
Clubs and
County Committees	3,312,451	1,279,505	(901,672)	(197,157)	11,431	3,504,558
EA Regional Strategic Fund	-	144,750	(145,906)	1,156	-	-
DAERA	-	127,978	(128,141)	163	-	-
	3,312,451	1,552,233	(1,175,719)	(195,838)	11,431	3,504,558
Previousyear:	At 1 September	Incoming resources	Resources expended	Transfers	Gains and At31 August losses 2024
	2023
	£	£	£	£	£	£
Clubs and
County Committees	4,807,443	4,264,313	(992,337)	(249,554)	(1,517,414)	3,312,451
EA Regional Strategic Fund	2,959	146,250	(171,968)	22,759	-	-
DAERA	-	§8,125	(112,471)	54,346	-	-
TheAward
Scheme	-	1,562	(1,562)	-	-	-
	4,810,402	1,470,250	(1,278,338)	(172,449)	(1,517,414)	3,312,451

Fund transfers relate to the payment of membership subscriptions by clubs on behalf of their members to the organisation's head office and other transactions between the clubs and the head office.

Additional transfers cover any overspend in the DAERA and EA funds.

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YOUNG FARMERS' CLUBS OF ULSTER, THE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

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23 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

	At1 September	Incoming resources	Resources expended	Transfers	Gains and At31 August losses 2025	Gains and At31 August losses 2025
	2024
	£	£	£	£	£	£
General funds	654,991	222,131	(366,999)	195,838	30,439	736,400
Previousyear:	At 1 September	Incoming resources	Resources expended	Transfers	Gainsand At31August losses 2024
	2023
	£	£	£	£	£	£
General funds	455,219	178,441	(288,670)	308,646	1,355	654,991
Analysis ofnetassets between		funds
			Unrestricted	Restricted	Endowment	Total
			funds	funds	funds
			2025	2025	2025	2025
			£	£	£	£
At 31 August 2025: Tangible assets Investments			50,973 280,289	1,144,810 313,717	- 212,314	1,195,783 806,320
Current assets/(liabilities)			405,138	2,046,031	-	2,451,169
			736,400	3,504,558	212,314	4,453,272
			Unrestricted	Restricted	Endowment	Total
			funds	funds	funds
			2024	2024	2024	2024
			£	£	£	£
At 31 August 2024: Tangible assets Investments Current assets/(liabilities)			- 250,408 404,583	1,215,677 301,728 1,795,046	- 190,605 -	1,215,677 742,741 2,199,629
			654,991	3,312,451	190,605	4,158,047

24 Analysis of net assets between funds

25 Events after the reporting date

There have been no significant events after the reporting period.

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YOUNG FARMERS' CLUBS OF ULSTER, THE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

26 ~=iRelated party transactions

There were no disclosable related party transactions during the year (2024- none).

27 ~=CAnalysis of changes in net funds

	TheAssociation had no material debt during the year.
28	Cash generated from/(absorbed by) operations	2025	2024
		£	£
	Surplus forthe year	295,225	121,980
	Adjustments for:
	Investment income recognised in statement offinancial activities	(49,224)	(58,583)
	Fairvalue gainsand losses on investments	(63,579)	(40,297)
	Depreciation and impairment oftangible fixed assets	31,539	57,316
	Movements in working capital:
	Decrease in stocks	1,482	2,415
	(Increase) in debtors	(40,774)	(33,004)
	Increase in creditors	17,494	1,030
	Increase/(decrease) in deferred income	103	(54,375)
	Cashgeneratedfrom/(absorbedby)operations	192,266	(3,518)

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