The Northern Ireland Agricultural Research and Development
Councll TIA Agrisearch
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report)
Year ended 31 March 2023
The Irustees, who are also the directors for the PUTP05es of company law, present their report and the
financial statements of the charity for the year ended 31 March 2023.
Chairfs report
The accounts have been prepared in accordance with the accounting policies set out in note 3 to the
accounts and comply with the Charity's Memorandum and 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) (effective 1 January 2015)"

The Northern Ireland Agricultural Research and Development
Council TIA Agrisearch
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
ReferenGe and adminlstrative details
Registered charity name
The Northern Ireland Agricultural Research and Development
Council TIA Agrisearch
Charity registration number
102341
Company registration number N1035855
Prtncipal office and registered Innovation Centre
office
Large Parl(
Hillsborough
Co. Down
BT26 6DR
Northem Ireland
The trustees
Mr S Mccaffrey
Mr C J Henning
Mr C Donnelly
Mr W Mayne
Mrs J E Dobson
Mr J M Blair
Mrs V Mcconnell
MrDRea
Mr l Ferguson
Prof. G E Boyle
Mr l G Mccluggage
Mr J N Mcmordie
Mr P Morrow
MrA Mccay
Mr S Chesney
Mr R Cleland
Mr D McLaughlin
(Resigned 28 April 2023)
(Resigned 9 December 2022>
(Resigned 30 April 2022)
(Resigned 20 June 2022)
(Appointed 20 June 2022)
(Appointed 20 June 2022)
(Appointed 9 December 2022)
(Appointed 21 July 2023}
Company secretary
Mr J Rankin
Auditor
Aubrey Campbell & Company
Chartered accountants & statutory auditor
631 Lisburn Road
Belfast
BT9 7GT

The Northern Ireland Agricultural Research and Development
Council TIA Agrlsearch
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (continue
Year ended 31 March 2023
Structure> governanGe and management
Nature of
ovemin
document and how chari
is constituted
'AgriSearch' is the trading name for the Northem Ireland Agricultural Research & Development Council,
a charitable company. limited by guarantee with no share capital. It is governed by its Memorandum
and Articles of Association.
Methods to recruit and a
oint new trustees
The Board of Trustees, who are also the Directors of the Charitable Company. are appointed by the
CDunr.il. The TrLJStees appoint three Advisory Committees to congider and monitor appropriate research
projects.
Nominations are received from the Ulster Farmers, Union for three famier Trustees. On behalf of
processors (who are levy collectors) DairyUK and Nl Meat Exporters Association (NIMEA) nominate
one trustee each.
Three famier Trustees are recruited independently with the aim of ensuring that relevant differing
aspects of fami husbandry are represented as far as possible and that there is widespread
representation across Northem Ireland.
Additional independent Trustees are recruited who are not active farmers but have standing within the
agricultural community and have experience of a commercial environment.
Members of the charity are approved at the AGM following nomination by the Trustees.
While nominatiorls for Trustees are received from the Ulster Famiers. Union. DairyUK and NIMEA the
final decision as to who to appoint is at the discretion of the members of the charity.
Indemni
rovision for trustees
Every member of the Charity undertakes to contribute such amount as may be required (not exceeding
£1) to the Charity's assets if it should be wound up while he or she is a member or within one year after
he or she ceases to be a member, for payment of the Charity's debts and liabilities contraGted before
he or she ceases to be a member, and of the costs. charges and expenses of winding up, and for the
adjustment of the rights of the contributories among themselves.
Trustees are also covered by a management and corporate liability insurance policy.
anisational structure and how char
makes decisions
The Board of Trustees meets five times per year and each of the Advisory Committees meets when
required to review funding and expenditure proposals. The Chairman. Vice-chairman, Senior Vice-
Chairman and the General Manager meet frequently lo review the day to day operation and governance
of the organisation.
The three advisory committees are made up of famier members. independent scientific advisors and
representatives of the processing sectors. The Beef and Sheep Advisory Committees also have a
representative from the Livestock and Meat Commission for Nl. Their role is to identify and evaluate
research proposals and recommend projects to the Trustees. Each committee includes one
representative of College of Agriculture. Food and Rural Enterprise (CAFRE) in an advisory capacity.
The Trustees review all proposals from advisory committees, taking into account the finances of the

The Northern Ireland Agricultural Research and Development
Councll TIA Agrisearch
Company Limited by Guarantse
Trustees, Annual Report (Incorporating the Director's Report) (contlnued)
Year ended 31 March 2023
organisation and the stralegic direction before deciding to approve the recommendations or retum them
to Ihe relevant committees for further consideration or rejection.
The advisory committees are made up as follows {as of 31st March 2023):
Beef Advisory Committee
Matthew Brownl88
Arthur Callaghan
Thomas Chambers
Andrew Clarke
John Egerton
David Gibson
stephen Hennan
Hugh Mccollum - Chairman
Pat McKay
Thomas Moorehead
John Payne
Mark Scott
William Sherrard
lan Stevenson
Alan Turt(ington- Vice Chaiman
(Non-voting CAFRE liaison)
Dairy Advisory Committee
Robert Beck
Claire Beckett
Phillip Donaldson
Neville Graham
Alan Irwin
Ivor Lowry
Robert Martin (Spa)
Samantha Mccarroll
Samuel McElheran
Don Morrow
John Oliver
James Purcell
Thomas Steele- Chaimian
Gary Thompson- Vice Chairman
(Non-voting CAFRE liaison)
Sheep Advisory Committee
Alistair Amistrong
William Beattie
Roger Bell
Brian Cromie
James Davison
Clement Lynch
Nigel McLaughlin- Acting Chairman
Brendan Kelly
Kennelh Linton
Mark Scott
Colin Smith
{Non-voting CAFRE liaison)

The Northern Ireland Agricultural Research and Development
Councll TIA Agrisearch
Cornpany Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
How decisions are made
Decisions are taken by the Board of Trustees which meets at least fNe times a year. Meeting papers
which include an agenda, minutes of the previous meeting, General Managerfs report, financial
statements and details of any project proposals being considered for funding are circulated in advance
of the meeting.
Policies and
rocedures for induction and trainin
of trustees
New Trustees are provided with infonnation about the role and about the Council as part of an
application 'pack'. Following selection. new Trustees have an induction briefing from the Chairman and
General Manager which providcs information and guidelines on their ta¥k¥ and re3pon8ibilities together
with an outline of the objectives of Agrisearch. They also receive copies of past Trustee minutes and
other corporate documentation.
Arran
ements for settin
and remuneration of ke
mana
ement
A remuneration committee is appointed by the Trustees and meets on annual basis to consider the
rp.miJnp.ralion of key managÈmÈnt. Its recommendations are submitted to the Trustees for approval.
The remuneration committee is currently made up as follows:
Norman Mcmordie (Chairman)
John Henning
Jo-Anne Dobson
A Disciplinary and Grievance Committee has also been established to review the employee handbook
and if necessary act as an appeal panel for disciplinary and grievance issues.
The Disciplinary and Grievan￿ Committee is currently made up as follows..
lan Mccluggage
Norman Mcmordie
Alan Mccay
Since the end of the financial year a new PhD Scholarship committee was established with the following
members:
Gerry Boyle
Alan Mccay
lan Mccluggage
Relationshi
s with related arties and other charitieslo
anisations with which tt Co-ordinates in the
ursuit of its charitable ob'ectives One Trustee, two members of the Agrisearch Sheep Advisory
Committee, three members of the AgriSear¢h Dairy Advisory Committee and two members of the
Agrisearch Beef Advisory Committee recèived payments during the financial year for activity undertaken
as "fanner Co-researchers" or"Beacon Famiers" these are detailed on pages 35 and 39 under Trustee
Remuneration, and 'Related Paty Transactions.. Fanner co-researchers are appointed on-merit in
consultation with the relevant lead scientist. Beacon Farmers were appointed on merit by an
independent expert panel.

The Northern Ireland Agricultural Research and Development
Council TIA Agrisearch
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
AgrlSea￿h has a conflict of interest policy and each Trustee and Advisory Committee member is asked
to complete a declaration of interests. In addition. declaration of conflicts of interest is a standing item
at the top of the agenda for every meeting of Trustees.
Objectives and activities
Charitable ob'ecttve
The principal activity of the Council is to commission research and development in the agricultural
industry. The Charity's objectives are to advance education. for the public benefit, in particular, by
conducting and commigsioning research into the improvement and developmont of sheep, beef and
dairy farming and to disseminate and publish the useful results of such research and also to promote
the improvement of animal health and welfare in sheep. beef and dairy famiing in Northern Ireland.
Aims of char.
Like all industries, the Northern Ireland ruminant livestock sector needs to constantly advance to meet
the challenges it faces. These include competttiveness in an increasingly globalised market. Meeting
govemment and consumer expectations in the fields of animal health and welfare, reducing the
environmental impact of faming. delivery of ecosystem services and improving food quality and safety.
Research and innovation have a major role to play in helping famiers to increase their socio-economic
resilience, improve their environmental sustainabilty and enhance the health status of their herds and
flocks.
Pur
ose: To make the Northem Ireland Ruminant Livestock Sector more competitive profitable and
sustainable.
Vision.. Agrisearch is committed to being an important driver of excellence and innovation in the Northem
Ireland ruminant INestock sector. and being recognised as such by government and industry.
Mission: To realise this vision, our mission is to drive profftabilty and sustainability, as a trusted, valued
conduit of knowledge and innovation based on sound science and widely applied research.
Values and Princi
les= Our values and principles below will be prevalent in all of our activities and
reflected in all of our work.
- Honesty and integrity

The Northern Ireland Agricultural Research and Development
Council TIA Agrisearch
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (¢onllnuedJ
Year ended 31 March 2023
Ethical leadership and good governance
- Accountability to famiers - levy payer led
Consultation. engagement. and effective communication at all levels of govemment and the industry
Collaboration and partnership across all our sectors
Seeking value for money in all of our research and innovation projects and programmes
Advocating excellence in all research. scien￿. and innovation activities
In light of further significant change within the agri-food sector and Agrisearch's operating environmenl.
the Trustees instigated a strategy review process in February 2020. As part of this process the
Trustees engaged extensively with famiers, processors. experts and other key stskeholders in the
industry. The review highlighted the need to have a more targeted and focused programme of work.
Sustsinability was identified as the main challenge for the industry. The three pillars of sustainability
are..
Peo
le - Famiing systems that are offer a reasonable workllife balance and that protect farming's
social license.
Plaiiet - Fariiiii)y Sybl¢iTi¥ Ihal deliver ecosystetll Services (e.g. biodiversty and carbon sequestratlon)
as well as minimising nutrient losses and carbon foot print.
Profit - Farming Systems are not sustainable unless they are profitable. A lack of profitabi15ty is a
major challenge for many farms, particularly those in the beef and sheep sectors. In addilion increased
volatility in the price of milk, beef and lamb and fami inputs can also threaten the economic resilience
and sustainability of fams.
How achievement of aims furthers ob'ectives
The charity is dependent on the goodwill of its levy funders. Given this, the Trustees have put in place
a range of systems to try to ensure appropriate research projects are commissioned, that research
findings are innovatively disseminated and that feedback and engagement are sought. Innovative
research and developfnent is a key strategy within Government targets. Agrisearch is also committed
to innovative research and development and aims to maximise its influence and impact. Agrisearch
also seeks to collaborate with government and industry bodies within Northern Ireland and further afield.
By doing so we can leverage our limited levy funds to achieve a much greater impact than by working
alone.
It is also the policy of the Trustees that the return on investment of the funds directed to research is
analysed and measured to ensure optimum value for money on behalf of the charity's funders.
Increasingly. as research projects reach conclusion. greater emphasis is being placed on the
dissemination of findings and the adoption by industry of the key recommendations into every day
working practice. Environmental and animal welfare considerations continue to be more significant
factors in the sustainability of farming and Agrisearch takes increasing notice of these.

The Northern Ireland Agricultural Research and Development
Council TIA Agrisearch
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (contlnuedj
Year ended 31 March 2023
Strate
ies for achievin
aims and ob"ectives
To build understanding of global advances in production systems. practices and techniques, through
the funding of new research, the sharing of knowledge. and widespread innovation and development.
- To lever funding and deliver programmes through collaborative research partnerships. actively seeking
partners locally, nationally and intemationally, and developing mutually beneficial relationships.
- To communicate more effectively and directly with fanners. increase the number of famiers we reach
and increase their active participation.
- To facilitate bottom up, industry led priorities for research and innovation. based on need.
To support the Nl science community. working to ensure the future capacity and capability of Nl
scientists and agriculturalists.
Criteria or measures used to assess success
Improvements in productivity and efficiency at fann level
Improvements in systems, processes, and practices
Increased profitability from farming ruminant livestock
- ReduGed Gatbon footprint per kg of milkl beefl lamb
Reduced input, overhead, and energy costs per unit of output
Increased or more productive use of land
Strength of Agrisearch profile locally and intemationally
- Level of industrylfarmer confidence in Agrisearch research models. methods, and outcomes
Strong collaborative relationships in government. in the agri-food industry, and in the scientific and
academic community
- Increase in effectiveness of communication
- Value for money and impact on famiing (economic and environmental)
Statement of com
liance with Cha
Commission
uidance
The Charity has paid due regard to guidance issued by the Charity Commission in deciding what
activities the Charity should undertake.
nificant aGtivities undertaken
Main objectives for the year and strategies for achieving them.
- To further develop the Beacon Farm Nehvork including the holding of workshops for the participating

The Northern Ireland Agricultural Research and Development
Council TIA Agrisearch
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (Continued)
Year ended 31 March 2023
famiers
- To continue with the Grasscheck programme and expand the Grasscheck farm ne￿orkS
To continue our involvement in Super-G (a Horizon 2020 Project on Permanent Grassland)
To continue our involvement in Resilience for Dairy (R4D) Horizon 2020 Thematic network
To lead three European Innovation Partnership operational groups and provide comms and KE
services to a fourth group (ARCZem)
To establish an Agrisearch PhD Scholarships Program
- To participate in the building of further nthorks and consortia to pool resources, avoid the duplication
of research and draw down external funding.
To continue our membership of and involvement in the Centre for Innovation Excellence in Livestock.
To hold further Knowledge Exchange events in collaboration with AFBI and CAFRE.
To increase the reach of our knowledge exchange programme through further on-farm events,
seminars and increasing traffic to the website and social media.
- To further develop our communications and knowledge exchange strategy.
To engage with DAERA to ensure a high priority is given to research and knowledge exchange and
ensure co-ordination of research and knowledge transfer activities and maximise synergies.
Grant-makin
olic
Investments in research programmes take into account value for money, affordability and the potential
for the research to be adopted in practice on farms in Northern Ireland.
Any research proposal must address are least one of the following key pillars:
Sustainability I profitabilty
Environmental lrnpact
- Animal WelfarelHealth
Food quality I safety
The Trustees also look for additional extemal funding in any research projects they approve. This is
mainly obtained through the Department of Agriculture's Evidence and Innovation Strategy and
Research Challenge Fund programmes and more recently the InvestNI funded Agri-Food Quest
Compelence Centre. Agrisearch has also obtained funding from the European Union under the
Horizon 2020 programme. However, the opportunities for levering funding for research projects has
greatly diminished in recent years. Thus Agrisearch is increasingly looking to undertake smaller scale
farm-level initiattves which it can fund using its own resources.

The Northern Ireland Agricultural Research and Development
Councll TIA Agrisearch
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 31 March 2023
Use of volunteers
The charity makes signfficant use of volunteers in the course of its work. In addition to the Trustees,
the members of the three sectoral advisory committees give freely of their time in attending and
preparing for committee meetings as well as supporting events run by Agrisearch.
In addition. many of Agrisearch's research programmes are based on commercial Northem Ireland
farms who only receive a small payment for the time they spend on these projects and who make their
herds and flocks available for research as well as allowing access to fami records and hosting extension
events on their farms.
Strategic report
The following sections for achievements and perf0rrnan￿ and financial rewew form the strategic report
of the charity.
10

The Northern Ireland Agricultural Research and Development
Council TIA Agrisearch
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
AGhievements and performance
Summa
of main achievements
Completed case studies on seven Beacon farms looking at means of lowering their carbon footprint
and published these results.
Recruited additional Grasscheck famiers and committed resources to support Grasscheck for the
next three years (2023-25)
- Commissioned a new ZeroNsile project which will look at making winter forage which required minimal
or no manufactured nitrogen fertiliser and recruited 15 fanners to participate in the project and held an
induction meeting
Continued involvement in SUPER-G (a Horizon 2020 project)
Led three European Innovation Partnership operational groups:
-Targeted Selective Treatment of Anthelmintics
-Multi-Species Swards for Beef & Sheep
-Leatheriacket Mitigation Strategies
Led KE and Comms Activities for ARC Zero EIP operational group.
- Website continuously updated along with use of social media.
Conducted two fanner survey's on behalf of the Rising Costs Industry Taskforce
Led or were involved in 9 farm walks
- Held 9 workshops for Adifjsory Committees, Beacon Famiers and Grasscheck famiers and others
Hosted 2 webinars
Held a'capitalising on Cloverf. seminar
Presented findings of the Leatheriacket Mitigation Strategies EIP project at a meeting of the
Fermanagh Grassland Club
- Presented findings of the Anthelmintic TST EIP projed at two CAFRE Planning for Performance events
- Continued work on "Resilience for Dairy" (R4D) a new Horrzon 2020 Thematic Ne￿Ork
- Took a stand at the RUAS Winter Fair
Investment rfomiance a
ainst ob-ectives
Cash flow and reallocation of funds be￿een accounts has been managed to maximise the limited
returns available on deposit accounts. The Danske Bank (Davy) managed portfolio has returned a
reasonable performance with a return of 4.30h this year. The St. James's Pla￿ managed portfolio

The Northern Ireland Agricultural Research and Development
Council TIA Agrisearch
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (coJJtAnuedJ
Year ended 31 March 2023
has also retumed satisfactory performance with a retum of -5.2% this year. The Trustees have
reviewed the portfolio and returns and are satisfied y￿th the management of risk and investment income.
Balanced
icture of chari
ress a
ainst ob'ectives
While Agrisearch has been successful at leveraging a significant amount of funding from government
and other sources in the past, many funding streams which Agrisearch has availed of in the past are
no longer open to new applications. Knowledge exchange is a key component of our work. Over the
course of the year we have run or assisted in the running of 13 successful knowledge exchange events.
Ke
erfomiance indicators ex
lainin
out uts achieved
Given the straightforward nature of the business, the company's directors are ofthe opinion that analysis
using KPI'S is not necessary for an understanding of the development. perfomiance or position of the
business.
nificant
ositive a
lans affected Given the relatively small amount of levy income the commissioning of research projects
is dependent on the availability of leveraged funding. Funding competitions for such projects do not
follow a regular cycle. In the last three years there have been fewer funding calls open and those that
have been open have not aligned particularly well with the goals and aspirations of Agrisearch. As a
result of this the Trustees instigated a major review of Agrisearch's strategy. Further to this they have
engaged the services of Dr Sinclair Mayne as an Independent Scientific Advisor to advise the Trustees
and management. Agrisearch is now undertaking smaller scale farm-level initiatives which it can fund
using it's own resources.
12

The Northern Ireland Agricultural Research and Development
Council TIA Agrlsearch
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (contlnued)
Year ended 31 March 2023
Financial review
Review of financial
osition at the end of the re
ortin
eriod
The statement of financial activities for the year is set out on page 23 of this report. The net movement
in funds for the financial year is net expenditure spent of £630.831 {2022.' net resources received of
£508,729). During the year Agrisearch agreed to fund 5 projects totalling £773.857 on the basis that
complementary funding in the region of £96.000 would be sought from the Department of Agriculture,
Environment and Rural Affairs and other sources. When other sources of funding are added, the total
expenditure on the related research and development since the fonnation of Agrisearch in 1997 is over
£63m, with thè input from Agrisearch amounting to £9.6M.
nificant events that affected financial erformance and financial
osition durin
the
eriod
Events during the year did not give rise to any material financial impact.
The Trustees monitor financial performance on a regular basis and take a low risk stance on finance. It
is the Trustees. policy to achieve the best financial return on longer temi funds wtth a prudent investing
attitude whilst ensuring that sufficient funds are available to meet the operational expenditure of the
organisation. Invested funds can be accessed at short notice. Financial risk is considered as part of
the Trustees. ongoing assessment of rts operating environment and a risk register is is maintained.
The organisation is largely dependent on a revenue stream from voluntary levies paid by tarmers and
agri-food processors. The risk to future financial perfomiance based on thi5 is regularly considered and
assessed. Budgets are set for each financial year in light of this. At the end of the financial year, there
are no events or circumstances which would significantly impact the organisation's future financial
perfonnance.
Over the Iwo previous accounting periods due to the lack of opportunltles for co-funding for new research
Agrisearch had built up considerable reseNes well beyond what would be normal for the organisation.
During the financial year the Trustees commissioned two new large projects ZeroNsile (a five year
project) as well as approving funding for an enlarged Grasscheck project from the period 2023-2025.
The budget allocations include provision for Agrisearch staff costs associated with these projects.
13

The Northern Ireland Agricultural Research and Development
Council TIA Agrisearch
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) f¢ontinued)
Year ended 31 March 2023
Financial review (continuedj
Investment policy and objectives
The overall investment policy is low risk. During the 2022-23 financial year the majority of funds were
held in deposits across a number of institutions as agreed by the Truste&s. A portion of funds which
are not required in the short term continue to be invested within investment portfolios managed by Davy
& st. James's Place. All funds are accessible at less than one week's notice.
Princi
al soiircp.s of income and how ex
enditLire meets ob-ectives
Principal funding sources are terms-of-trade levies collected on a voluntary basis by Northern Ireland
processors of dairy, beef and sheep.
Reserves
includin
amount of reserves and wh held restricted funds desi
nated funds free
reserves a
ainst rese￿e$
The Trustees have established a policy whereby the company's 'Free'
reserves, being funds not committed to third patlies for research should represent at least 12 months
management and administration costs. Atthis level, theTrustees are of the viewthatthe companywould
be able to continue its activities in the event of a significant drop in funding. The level of reserves held
at the year ended 31 March 2023 is £511.922. In addition, in order to ensure continuity of operations,
further reserves are held for the ongoing commissioning of research, to ensure AgriSear¢h has the
capacity to commission urgent research at short notice to address any emerging critical issues that may
arise. Agrisearch works with other stakeholders to ensure maximum leverage of funds. Reserves held
can vary depending on the timing of decisions made by co-funders. Reserves held can vary based on
the expected or anticipated timing of research funding calls and the time taken for co-funders to consider
applications made under such calls. The Trustees considerthat the present level of reserves adequately
meets these combined objectives.
Risk factors
The Trustees are responsible for ensuring effective risk management, and that internal controls are in
place to appropriately manage the risk exposure of Agnsearch. When reviewing risks the Board
considers:
- the major risks to which Agrisearch i5 exposed-,
- the potential impact and probability associated with each risk;
existing intemal controls and accountabilty for them;
- mitigating actions needed to reduce each risk to a level that the Trustees considered to be acceptable.
The Trustees have drawn up a comprehensive and detailed risk register which is fomially reviewed by
the Trustees every year and is regularly monitored by the Office Bearers. Committee.
The major financial risks are each subject to ongoing monitoring and management. Agrisearch
investments are regulady reviewed by the Office Bearers. Income and cost control are subject to detailed
review and challenge on at least a bimonthly basis. An annual budget for non-proje¢t related
expenditure for the forthcoming year is placed before the Trustees for approval before the start of each
financial year. During the year a Financial Control Document VRS drawn up and adopted by the Trustees
and is is kept under regular review.
14

The Northern Ireland Agricultural Research and Development
Gouncil TIA Agrisearch
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (CDntinuedJ
Year ended 31 March 2023
Financial review (continuedj
Agrisearch is reliant on the co-operation of dairy and red meat processors to collect producer levies on
its behalf.
Plans for future periods
To launch Agrisearch PhD Scholarships
- To continue our involvement in Super-G (a Horizon 2020 Project on Pemianent Grassland).
To work with academic and research partners to lever funding for projects to utilise the Beacon Farm
ne￿ork.
- To continue our involvement in the Resilience for Dairy {R4D) Horizon 2020 Thematic network
To manage the delivery of three European Innovation Partnership projects (concluding 30th June
2023).
To participate in the building of further networks and consortia to pool resources. avoid the duplication
of research and draw down external funding.
To continue our membership of and involvement in the Centre for Innovation Excellence in LivestQGk.
To hold further knowledge exchange events in collaboration with AFBI and CAFRE.
To increase the reach of our knowledge exchange programme through further on-farm events,
seminars and increasing traffic to the website and social media.
- To further develop our communications and knowledge exchange strategy.
To engage with DAERA to ensure a high priorty is given to research and knowledge transfer and
ensure co-ordination of research and knowledge transfer acttvities and maximize synergies.
Trustees. responsibilities statement
The trustees, who are also directors for the purposes of company law, are responsible for preparing the
trustees, report and the financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a
true and fair view of the state of affairs of the charliable company and the incoming resources and
application of resources, including the income and expenditure, for that period.
15

The Northern Ireland Agricultural Research and Development
Council TIA Agrisearch
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (¢ontlnued)
Year ended 31 March 2023
In preparing these financial statements. the trustees are required to:
select suitsble accounting policies and then apply them consistently-
observe the methods and principles in the applicable Charities SORP;
make judgments and accounting 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 ststements;
prepare the financial ststements on the going concern basis unless it is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain thÈ eharty's transactions and disclose with reasonablè accuracy at any time thg financial
position of the charty 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 chartty and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms that".
so far as they are aware. there is no relevant audit infomiation of which the charity's auditor is
unaware" and
they have taken all steps that they ought to have tsken as a trustee to make themselves aware of
any relevant audit infomiation and to establish that the charity's auditor is aware of that infomation.
The trustees. annual report and the strategic report were approved on 28 November 2023 and signed
on behalf of the board of trustees by:
Prof. G E Boyle
Trustee
Mr l G Mccluggage
Trustee
Mr J N Mcmordie
Trustee
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