Pig ReGen Limited
(a company limited by guarantee)
Financial statements
for the year ended 31 March 2023
Nl 063168
Charity number XT10373

Pig ReGen Limited
Contents
Pages
Trustees, advisers & other information
Trustees, report
Independent Examiner's Report
Statement of Financial Activities
Balance sheet
Notes to the financial statements
10-15

Pig ReGen Limited
Trustees and advisers
Trustees
Gary A. Anderson (Chairnian)
A. Norman Robson
Samuel J. Shields
Lyndoii W. Milligan
James Wriglit
Cyril M. Millar
Andrew Mccrea
Malcolm F.C. Keys
Philip Walker
William Anderson
Derek Hall
William A.I. Ferguson
Samuel G. Cuddy
Robert E. Ferguson
Andrew J. McGowan
James K. Millar
Company secretary
Lyndon W. Milligan
Registered office
HMT Consultancy
658 Gransha Road
Bangor
BT19 7PX
Accountants
Neeson Chambers Ltd
123-125 Main Street
Bangor
BT20 4AE
Bankers
Bank of Ireland
82A Main Street
Bangor
BT20 4AG
Soli¢itors
Quinn & Heron
15 Broad Street
Magherafelt
BT45 6EB

Pig ReGen Limited
Trustees, report
for the year ended 31 March 2023
The Trustees present their annual report and the unaudited financial statements for the year ended
31 March 2023.
The information with respect to the Trustees and Advisers set out on page I form part of this report.
The financial statements comply with current statutory requirements, the Merriorandum and Articles of
Association, 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) (effective l January 2015)-
Structure, Governance and Management
Pig ReGen Limited is a charitable company limited by guarantee with no share capital.
It is governed by its Memorandum and Articles of Association.
The Board of Trustees are also the directors of the charitable company.
The assets and undertakings of the Pig Production Development Fund and PIG Industry Genetics
Limited were transferred to Pig ReGen Limited on l April 2008 under the Pig Production Development
Committee (Winding up) Order (Northern Ireland) 2007.
Risk Management
A risk policy and a risk register have been agreed. Under the policy the board reviews annually the
major risks to which the charity is subject and how to manage th¢m. A key element in the
management of the financial risk is the setting of a reserves policy and its regular review by
the trustees.
Objectives and Principal Activities
The principal activity of Pig ReGen Limited is to advance education for the public benefiL in particular,
by conducting and commissioning research and surveys into th¢ improvement and development of pigs,
pork and pig farming in Northern Ireland and to disseminate and publish useful results of such research
and surveys.
Review of Operations and Future Developments
Tlie charity is dependant on the goodwill of its voluntary levy fuDders. Northern Ireland pig producers.
Given this. the trustees have put in place a range of systetns lo try to ensure appropriate research
projects are committed, that research findings are fully and innovatively disseminated and that feedback
and engagement is sought.
All projects are approved by the trustees before moneys are allocated to any project and no grant is
approved until finances are fully in place to complete the contracted project.

Pig ReGen Limited
Trustees, report
for the year ended 31 March 2023- eont'd
Review of Operations and Future Development
The projects supported by Pig ReGen Ltd continue to fall into the following board cat¢gories:
l. Improving health and welfare of the Nl pig herd.
2. Research into improving efficiency and cotnpetitiveness of Nl producers.
3. Education.
Health and Welfare
Because of the continued situation and complications as a results of Covid regulations our vets had only limited
access to factories, however two surveys were completed and circulated among producers. The PRRS project
referred to in the previous report is almost completed. A meeting was held wÈth producers to update results in
November and a very successful ¢v¢ning seminar open to producers and others with associated interest.
Presentations were given by Zoom from Denmark where similar work is being carried out by Boehringer
specialist in PRRS and its effects on general health and welfare of pigs.
Research
The 3 year research project with AFBI into factors affecting quantity and quality of colostrum produced by sows
post farrowing colostrum is continuing although results are not yet available.
Education
Due to COVID-19 Regulations all meetings both management and producer were restricted to Zoom meetings
and telephone conversatlons. Educational infomiation was circulated among producers by email.
The Directors are satisfied that the activities of Pig ReGen Limited accurately reflect the aims of the charity.

Pig ReGen Limited
Trustees, report
for the year ended 31 March 2023 - cont'd
Key Performance Indicators
Given the slraightforward nature of the business, the company's trustees are of the opinion that analysis
using KPI'S is not necessary for an understanding of the development, performance or position of Ihe
company.
Reserves Poliey
The trustees hav¢ established a policy whereby the company's free reserves, being funds not comitted to third
parties for res¢arch, should repr¢s¢nt at least six months, annual income. At this level the trustees are of the
view that the company would be able to continue in the event of a significant drop in funding.
Organisation
The Board of Trustees meets at least 4 times per year.
The Chairman, Vice-chairman and Company secretary meet frequently to review the day to day operation and
governance of the organisation.
Trustees
The trustees who served during the year are listed on page l.
The Articles of Association indicate that any reference to "the trustees" means the Directors of the charity. The
trustees of the company during the year to 31 March 2023 all of whom have been Trustees for the whole year
ended on that date otherwise stated are listed on page l.
The trustees act in a voluntary capacity and do not receive any remuneration.

Pig ReGen Limited
Trustees, report
for the year ended 31 March 2023 - cont'd
Appointment of Trustees
The number of trustees shall not be less than 8 or exceed 24.
Subject to Ihis the board shall include certain persons who fall into the followittg categories:_
Three farmers with more than 600 sows.
Three farmers with 250-600 sows.
Three farmers with less than 250 sows; and
One UFU Central Pork and Bacon Committee representative.
Trustees Induction and Training
New trustees Iiave an induction briefing from the chairman and or company secretary which provides
information and guidelines on their tasks and responsibilities together with an outline of the objectives of
Pig ReGen Ltd. They also receive copies of past trustee minutes and approved research proposals.
Results
The net incoming resources for the fInancial year were £17,848 (2022- incoming resources of £56,024),
yielding total funds at the end of the year amounting to £1,446.669 (2022. £1,428,821).
Governance and Internal Control
The trustces have an overall responsibility for ensuring that there is an appropriate system of internal
controls and that it complies with relevant laws and regulations. The systetn of internal controls is
designed to provide reasonable, but not absolute, assurance against material misstatement or loss.
Key features of the system are an annual budget approved by the trustees, regular consideration by
the trustees of financial results, variance from budgets. other performance indicators and benchmarking
reviews, delegation of authority and segregation of duti¢s and the identification, review and management
of strategic business and operational risks.

Pig ReGen Llmlted
Trust¢es' report
for the ytAr eud¢d 31 M•rcb 2023 -CODVd
Statcffjeni of trus¢eu' ruponilbilldu
The Irustee5 are responsible for preparing the annual report and the financial slalements in accordance
with applicable law and United Kingdom Accountin8 Stsndards (United Kingdom Generally Accepted
Practi¢¢l
Co¥npany law requires the lThste&s to prepare financial stai¢ments f(Y eaL.h finuneial period which
give a true and fair view of the stste ofaffair5 of the company for that ￿1r￿1. In preparing those
financi41 slatcments. the ITU51¢CS are required to:
select 5uilabl¢ accounting wlieies and then apply thcm consistenily,
make jud8rnents and estimates thai arc reasonable and prudent:
state whethcr applicable accountin8slandarL% have been followe¢ subjeu io any malerial
dcparturc disclosejj and eAplaincd in the financial staternents, 4nd
prepare the financial statcments on the going concern basis unless li 1$ inappropri8le to
presume (hat the compAny will conunue in business,
The Trustees confirm thai they have complied with th¢ above requirements in prcparing the financial
ststements.
The iruslees are responsible for kceping proper accounling reconls which di5clos¢ with rc8sonable
aLcuracy dt any time the financial posiuon of the company #nd ty enable th¢m ￿ ¢n5ure that the
rinancial Slatemen￿ comply with the Companies Act 2(X16. They are also rtsponsible for
safe8uaTdin8 the a$5ets of the company and hence for taking reasonable steps for the prevention
and detection of fraud and other iTregulafiiies.
S•JAII Comp*ny Exemption
This report hys becn prepared in accordancc with the special provisions ofpart 15 of tht Companics
Act 2006 relating to small compani¢s.
of tThe board on:
Lyndtsn NfilliEAn
Secretary

Pig ReGen Limited
Independent Examiner's Report
for the year ended 31 March 2023
We report on the accounts of the charity for the year ended 31 March 2023. which are set out on pages
8t0 15.
Respective responsibilities of directors and examiner
Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for
independent examination, it is our responsibility to.
examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008.
follow the procedures laid down in the general directions given by the Charity Commission for Northern
Ireland under section 65(9){b) of the Charities Act. and
state whether particular matters have come to our attention.
Basis of independent examiner's report
We have examined your charity accounts as required under section 65 of the Charities Act and
our examination was carried out in accordance with the general directions given by the Charity
Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination
included a review of the accounting records kept by the charity and a comparision of the accounts
presented with those records. It also includes consideration of any unusual items or disclosures in
the accounts, and seeking explanations from you as charity trustees concerning any such matters.
Our role is to state whether any material matters have come to my attention giving us cause to believe:
l. That accounting records were not kept in accordance with section 386 of the Companies Act
2006
2. That the accounts do not accord with those accounting records.
3. That the accounts do not comply with the accounting requirements of section 396 of the
Companies Act 2006 and with the methods and principles of the 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.
4. That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
We have completed our examination and have no concerns in respect of matters I to 4 listed above
and, in connection with following the directions of the Charity Commission for Northern Ireland,
we have found no matters that require drawing to your attention. We have not carried out an audit.
Neeson Chambers Ltd
123-125 Main Street
Bangor
BT20 4AE
Date:
20

Pig ReGen Limited
Statement of Financial Activities
for the year ended 31 March 2023
Unrestricted Funds
2023
2022
Note
Incoming resources
Incoming resources from generated funds:
Levy income
Grant income
Investment income
Total incoming resources
78,982
9276
33,880
122,138
78,162
16,806
26,718
121,686
Resources expended
Charitable expenditure
Direct programme expenditure
Governance costs
Management & administration
78,863
49,114
25,427
16,548
Total resources expended
104290
65,662
Net incoming resources for the year
17,848
56,024
Fund balance brought forward at start of year
1,428,821
1,372,797
Fund balance carried foThard at end of year
1,446,669
1.428.821
All amounts above relate to the continuing operations of the company.
The company has no recognized gains and losses other than those included in the results
above and therefore no separate statement of total recognized gains and losses has been
presented.

Pig ReGen Limited
BalaDce sheet
as at 31 March 2023
Note
2023
2022
Flxed assets
Investment property
683,268
683268
683,268
683.268
Current a55ets
Debtors & prepayments
Cash at bank
32.653
7S2J81
785,034
32,841
731.103
763.944
io
Creditors: Amounts falling due
within one year
(21,633
(IX.391)
Net current Ilabilitie5
763,401
745.553
Total assets Jess current liabilities
1,446.669
1,428,821
Funds
Unrestrirtcd fund5
13
1,446.669
1.428.821
Total funds
1,446,669
1,428,821
The company is entitled to the exemption from the audit requirement contsined in sectioll 477 of Ihc
Cornpanics Act 2006. for the year endcd 31 Match 2023. No member of the company h&8 deposited
a notice. pursuant to section 476. requiring an audit of these accounts.
The dir¢¢tors' responsibilites for ¢nsuriDg that the charity k¢q)s accounting records which comply with
section 386 of thc Acl and lor prcparing accounts which give a true and fair vi¢w of the stale of affairs
of the company 8s al the end of the finanLial year 3nd of its incoming rcsources aThd application
of resources. in¢ludinE IÈS incomc including its income and cxpenditure. for iTrL¢ financial year and of its
incoming iesourccs and application and expendiDJre5, for the financial year in accordan¢¢ wi(h the
requirements of section 394 and 195 and whiLh ntherwisc comply with th¢ requirements of the
Co[[￿anieS Act 2006 relaling to accounLs, so far as applicable to th¢ company.
These acrounts have been pryared in accordancc with thc pn)visions applicable to companies subjeci
to the small companies rcgimc.
Tti¢se financial ststements were authorised for issue by the Board of Tnjslees on 2 . z3
and &igned on its behalf by -
Gary A. Anderson
Trustee

Pig ReGen Limited
10
Notes to the financial statements
for the year ended 31 March 2023
Principal accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting
by Charities-. Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP (FRS 102)), the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the
Companies Act 2006.
Reconciliation with previous Generally Accepted Accounting Pr2Ctiee
In preparing the accounts, the trustees have considered whether in applying the accounting
policies required by FRS 102 and the Charities SORP FRS 102 the restatement of
comparative items was required. No such adjustments were required.
Tangible Fixed Assets
Tangtble fixed assets were transferred across from PPDC and PIG Limited on l April 2008 at cost less
accumulated deprecation.
As these assets are not presently held for operational use they have been revalued and included in the
balance sheet at open market value.
Incoming Resources
Income represents all monies, on an accruals basis, collected on behalf of the company by its agents.
The levy rate charged to producers is 15p per pig slaughtered in Northem Ireland, restricted to a
maximum for each producer of £1,200 per annum.
Resources Expended
All expenditure is accounted for on an accruals basis and has been Classified under the headings that
aggregate all costs related to the category.
Direct Programme Expenditure
Direct programme expenditure represents research and development grants and costs approved for
payment which is charged as expendsture in the year in which the expenditure is incurred or the
commitment is made and, as appropriate, is carried forward as a liability until paid.

Pig ReGen Limited
11
Notes to the financial statements
for the year ended 31 March 2023 (continued)
Management and Administration Expenditure
These represent costs incurred in the management of the company's assets, organisational
administration and compliance with constitutional and statutory requirements and other
support ￿nCtions.
Value Added Tax
The company registered for VAT on I September 2016. Income and expenditure are net of VAT
where applicable.
Unrestricted Funds
Unrestricted funds are amounts received or generated and which are expendable at the discretion of
the company in furtherance of its objectives.

Pig ReGen Limited
12
Notes to the financial statements
for the year ended 31 March 2023 (continued)
Investment Income
Envestment income is recognised on a receivable basis and arises from investment property rental and
bank deposit interest.
Investment Property
The investment properties values are reveiwed annually and are included in the balance sheet at their open
market value. Any change to the value of the investment properties are disclosed as movement on an
investment revaluation reserve, unless a deficit is expected to be permanent and is then charged in the
Statements of Financial Activities (including income and expenditure account). On the sale of an
investment property, the surplus or deficit arising since the last balance sheel valuation and any
revaluation surpluses from prior years thus realised are transferred from investment revaluation reserve
to Statement of Financial Activates (including income and expenditure account). No depreciation is
provided in respect of investment properties.
Capital Reserve
The capital reserve (note 13) arose on the transfer of assets at book value from the old Pig Production
Developnient Committee and PIG Limited.
Investment Ineome
2023
2022
Rental income from investment properties
Bank deposit interest
32,530
1.350
33,880
26,387
331
26,718
Direct Programme Expenditure
2023
2022
Mossvet
AFBI trial work
Parklands
CIEL
Creamill
Hobson Electrics
Acare Lab
Violet Wylie
Agrihealth
17,064
41,012
1,575
550
1,530
7,500
22,500
2.700
525
1,425
3,878
10,586
5,262
11,420
450
78,863
49,114

Pig Recen Limited
13
Notes to the financial statements
for the year ended 31 March 2023 (continued)
4 Management & Administration
2023
2022
Investment property expenses
Board travelling expenses
Administration services
Accountancy services
Bank charges
Sundry expenses
13J36
7,306
8,638
2,400
98
955
25,427
6,327
2,400
142
373
16,548
5 Employee Information
The company does not have any employees.
6 Trustees, Emoluments
The trustees received no emoluments during the year to 31 March 2023 (2022-£nil)
and no other pension costs were accruing to trustees in either year.
Details of reimbursed board travelling expenses are given in note 4.
7 Taxation
The company is a registered charity. and as such. is entitled to certain tax exemptions
on income and profits from investments and surpluses on any trading activities carried
on in furtherance of the charity's primary objective if these profits and surpluses are
applied solely for charitable purposes.

Pig ReGen Limited
14
Notes to the financial statements
for the year ended 31 March 2023 (continued)
Investment Property
Greenmount Cottages Kirby's Lane, Antrim
No's 2,6,8,9 &12 - long leasehold
2023
2022
683,268
683,268
Gieenmount Cottages were revalued in 2009 at open market value for existing use by
Tom Evans of Evans Little Estate Agents, Antrim. This valuation is still considered valid
by the trustees.
Details of rental income and related costs are given in notes 2 and 4.
Debtors
2023
2022
Lewy debtors
Prepayments & accrued income
16,571
16,083
32,654
17,765
15,076
32,841
10
Cash at Bank
2023
2022
Committed funds (note 12)
Uncommitted funds
10,707
741,675
752,382
7,500
723,603
731,103
11
Creditors
2023
2022
Accruals & deferred income
Other creditors (note l O)
VAT
4,401
10,707
6,525
21,633
7.615
7,500
3,276
18.391

Pig Recen Limite
15
Notes to the financial statements
for thc year endcd 31 March 2023 leontinuedl
12
Committed Research Expenditure
2023
2022
Committed expenditure al start of year
Rescarch grant and cost ¢ommitmcniS made
during the year
Paid during the ycar
Committed expendilure at end of year
7,500
30,180
78,862
(75,655)
10.707
38,528
(61,208)
7.500
13
Movement in Funds
Income and
expenditure
account
Cgpit81
rescrvc
Revaluation
Total
reserve
Teserves
Opening balance
426,394
956.427
46,000
1.428.821
Incomings
122,138
122.138
Resources expended
104,290
104.290
Transfer to profit & loss
Balance at 31 March 2023
444,242
956.427
46,000
1,446,669
R¢valualion reserve of tangible assets
Revaluation reserve of inv¢stmcnt prop¢rti¢s
46.000
46,000
14
Sharc Capital- Limittd by Guarantee
Pig ReGen Limited is a ¢ompany limil¢d by guarant¢¢. The liability of the members is limited to an amount not exeeding £1.