The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Unrestricted funds Total funds 2023 Total funds Note Income and endowments Donations and legacies Investment income 621.451 15,163 621.451 15,163 540.092 14.469 Total income 636,614 636,614 554,561 Expendlture Expenditure on charitable activities Total expenditure (337,974) (337.974) (1.140.109) (337.974) (337,974> (1,140,109} Net (gains)Ilosses on investments 11 (67,443) {67,443} 45,283 Net incomel(expenditure) and net movement in funds 366,083 366,083 {630,831 } Reconciliation of funds Total funds brought forward Total funds carried forward 511,922 511,922 1,142,753 878.005 878.005 511,922 The slatement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 25 to 39 form part of thesg financial statemonts. 22
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets Investrnents 16 17 9,512 753,971 7,639 678,536 763.483 686.175 Current assets Deblors Cash at bank and in hand 18 165,146 513,008 234.659 457,581 678,154 692,240 Creditors: amounts falling due within one year Net current assets 19 265,631 395.747 412,523 296,493 Total assets less current liabilities 1,176,006 982,668 Credltors: amounts falling due after more than one year Net assets 20 298,001 470.746 878,005 511.922 Funds of the charity Unrestricted funds 878,005 511,922 Total charity funds 22 878.005 511,922 These financial statements were approved by the board of trustees and authorised for issue on 11 th November 2024 and are signed on behalf of the board by: Prof.G Truste rald Eugen Mr lan Gardin Trustee r Mcclug Mr James Norman M¢Mordie Trustee The notes on pages 25 to 39 form part of these financlal statemonts. 23
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operatlng activities Net incomel(expenditure} 366,083 {630.831) Adjustments for.. Depreciation of tangible fixed assets Net Igains}Ilosses on investments Dividends, interest and rents from investments Other interest receivable and similar income Loss on disposal of tangible fixed assets Accrued {income)lexpense5 3.410 {67,443) {12.060) (3,103> 17 (3.5481 2,677 45,283 (13,776) (693) 1.078 Changes in.. Trade and other debtors Trade and other creditors 69,514 (299,313) 53.557 93,184 424,510 Cash generated from operations (78,568) Interest received 3,103 693 Net cash froml(used in) operating activities 56,660 177,875) Cash flows from Investing activlties Dividends. interest and rents from investments Purchase of tangible assets Purchases of other investments Proceeds from sale of other investments 12,060 13,776 {5,301) (6,7481 (347,276) (196,020) 339.284 190,530 Net cash (used in}Ifrom investing activities (1,233) 1,538 Net increasel(decrease) In cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 55.427 457,581 (76,337) 533,918 513,008 457,581 The notes on pages 25 to 39 fomi part of these financlal statgments. 24
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Innovation Centre, Large Park, Hillsborough. Co. Down, BT26 6DR. Northern Ireland. Statement of compllance These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland.. the 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 IFRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. A¢¢ounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling. which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estlmation uncertainty In the application of the Charity's accounting policies, the Trustees 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 were the revision affects both current and future periods. 25
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements (eonllnued) Year ended 31 March 2024 Accounting policies (continued) Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to fvrther any of the charity's purposes. Designated funds are unrestricted funds eamiarked by the trustees for particular future project or ommitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of sub-classes.. restricted income funds or endowment funds. Incoming resources Incoming is recognised when Ihe Charity 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 reGeived. The levy rates charged to the producers are as follows: Milk Beef Sheep 0.02p per litre 30p per head 5p per head Cash donations are recognised on receipt. Other donations are recognised once the Charity 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 deèds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution. the amount is known and receipt is expected. If the amount is not known. the legacy is trealed as a contingent asset. 26
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements (Gontlnu•dJ Year ended 31 March 2024 Accounting policies (contlnued) Resources expended All expendilure is accounted for on an ac¢rual basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties. it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Grants payable to third parties are wilhin charitable objectives. Where unconditional grants are offered. this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive grants. Expenditure on charitable activities includes Costs undertaken to further the purposes of the charity. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include office costs, management charge5 and governance costs which support the Council's activities. These costs have been allocated to charitable activities. Operating leases Lease payments are recognised as an expense over the lease term on a slraight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease lerm, on a straight-line basis. Tangible assets Tangible assets are initially recorded atcost, and subsequently stated atcost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreGialion and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses. unless it reverses a Gharge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the Carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain. in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over Ihe useful economic life of that asset as follows.. Fixtures and fittings IT Equipment 20 % straight line 20°/0 Straight line 27
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements {contlnu•d) Year ended 31 March 2024 Accounting policles (continued) Investments Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Changes in fair value are recognised in net incomel(expenditure)for thè year. Transaction Gosts are expensad as inGurred. Investments in associates Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the inveslments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or efftirt, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition. Investments in joint ventures Investments in jointly controlled entities accounted for in accordance with the cost Model are recorded at Cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date. the investments are maasured at fair value. with changes in fairvalue taken through income orexpenditure. Where it is impracticable to measure fair value reliably without undue cost or effort. the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition. Impairment of fixed assets A review for indicators of impairmant is Carried out at each reporting date. with tha recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of ass8ts that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. 28
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements {¢ontlnued) Year ended 31 March 2024 Accounting policies {contlnu•d) Impairment of fixed assets {contlnuéd) For impaimient testing of goodwill. the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination. irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability 15 recognised only when the charity beGomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably. the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured al cost less impairment. Other financial instruments. including derivatives. are inilially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. OtherfinanGial instruments are subsequently measured at fair value. with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instrument5 regardless of significance. and other financial assets that are individually significant. these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of tha financial asset that exceeds what the Garrying amount would have been had the impairment not previously been recognised. 29
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Note5 to the Financial Statements (eontlnuedj Year ended 31 March 2024 Accounting policies (¢ontinued) Deflned contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounled present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Employee benefits The Gost of any unused holiday entitlement is reGognised in tha period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Limited by guarantee The company. being a company limited by guarantee. does not have share capital. The liability of members of the company is limited to £1 per member. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations and gifts 470.561 470.561 476,040 476,040 Grants Grants receivable 150.890 150,890 64,052 64,052 621,451 621,451 540,092 540,092 30
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements (oonllnued) Year ended 31 March 2024 Donations and legacies (continued) 2024 2023 Donations and Gifts Milk Levy Beef Levy Sheep Levy AHWNI 329,948 122,231 18,382 316,053 128,106 22,586 9,296 470,561 476,041 Grants for Core Activities DAERA Resèarch Challenge Fund Brook Hall Estate ARCZero Newcastle University Super G 124,247 18,423 8.220 64,052 150,890 64,052 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Income from other investments Other interest re¢eivable 12,060 3.103 12.060 3,103 13,776 693 13,776 693 15.163 15,163 14,469 14,469 31
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements (eontlnued) Year ended 31 March 2024 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Research and development in the agricultural industry. Support costs 222,481 115,493 222,481 115,493 1.068,389 71,720 1.068.389 71,720 337.974 337.974 1,140,109 1,140,109 2024 2023 Staff costs Legal and professional fees Dissemination costs AHWNI funding 124,400 5,175 37,585 136,041 4,781 28.370 9,296 167,160 178,488 Grant funding activities 55,320 889.901 Share of support costs Share of governance costs Unrestricted fund 87,592 27,902 56,565 15,156 337,974 1,140.109 Reconciliation of project commltments 2024 2023 Grants to institutions Opening commitments Agri-Food & Biosciences Institute Digital Catapult (Decreased)Ilncreased project in year Paid during the year 833,998 370,653 769.857 20,000 {64,678) (14.684) (245.720) (291,828) 543,600 833,998 32
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements (eontinugd) Year ended 31 March 2024 Expenditure on charitable activities by activity type Activities undertaken direclly Support Total funds costs 2024 Total fund 2023 Research and development in the agricultural industry. Governance costs 222,481 87,591 27,902 310,072 27,902 1,124,954 15,155 222,481 115.493 337,974 1,140,109 10. Analysis of support costs Analysis of support costs activity 1 Total 2024 Tolal 2023 Staff costs Premises Communications and IT General office Finance costs Governance costs Support costs - depreciation Support costs - other costs 58,843 7,051 5,784 1,361 3,992 27,902 3,410 7,150 58.843 7.051 5.784 1,361 3,992 27,902 3,410 7,150 35,278 5.938 2,235 2,578 4,276 15,156 2,677 3,582 115.493 115,493 71,720 11. Net gainsl(losses) on investments Unrestricted Total Funds UnrestriGted Total Funds Funds 2024 Funds 2023 Gainsl{losses) on other investment assets 67,443 67.443 {45,283) {45,283} 12. Net incomel(expenditure) Net incomel(expenditure) is stated after chargingl(crediting): 2024 2023 Depreciation of tangible fixed assets Loss on disposal of tangible fixed assets 3.410 17 2,677 33
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements {oontlnu8d) Year ended 31 March 2024 13. Audltors remuneration 2024 2023 Fees payable for the audit of the financial statements 5.000 5.000 14. Staff costs Th8 total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Social security costs Employer contributions to pension plans 167.765 11.537 3,942 158.158 9.928 3.233 183,244 171.319 The average head count of employees during the year was 6 (2023: 6). The average number of full-time equivalent employees during the year is analysed as follows: 2024 No. 2023 General Manager Project Officer Finance Officer Research Manager Field Officer Student Researcher No employee received employee benefits of MO than £60,000 during the year (2023: Nill. 15. Trustee remuneration and expenses None of the Trustees (or any persons connected with them) received any remuneration during the year (2023.. £Nil). Trustees were reimbursed travel expenditure totalling £1.634 (2023: £2,036). In addition. two trustees received payments totalling £4,550 (2023.. £2.500) for taking part in projects including Beacon Farm Network. Grasscheck, ZeroNsile and Farm Walk. 34
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements (contlnuèd) Year ended 31 March 2024 16. Tangible fixed assets Fixtures and fittings IT Equipment Total Cost At 1 April 2023 Additions Disposals At 31 March 2024 3,675 2,116 15.905 3.185 (3.867) 15,223 19,580 5,301 (3,867) 21.014 5.791 Depreciation At 1 April 2023 Charge for the year Disposals At 31 March 2024 2.999 815 8,942 2,595 (3,849) 7.688 11.941 3,410 13,8491 11.502 3,814 Carrylng amount At 31 March 2024 1,977 7,535 9.512 At 31 March 2023 676 6.963 7,639 17. Investments Other Investments Cost or valuation At 1 April 2023 Additions Disposals Fair value movements 678,536 347,276 (339,285) 67,444 At 31 March 2024 753,971 Impairment At 1 April 2023 and 31 March 2024 Carrying amount At 31 March 2024 753,971 At 31 March 2023 678,536 All investments shown above are held at valuation. 35
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2024 18. Debtors 2024 2023 Trade debtors Prepayments and accrued income 160,509 4,637 153,657 81,002 165,146 234,659 19. Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income Social security and other taxes other creditors 2,369 12,651 5,012 245,599 11,487 16,199 4.809 363.252 265,631 395,747 Other creditors relates to project expenditure committed to by the charity. 20. Creditors: amounts falling due after more than one year 2024 2023 Other creditors 298,001 470,746 other creditors relates to project expenditure committed to by the charity. 21. Penslons and other post retirement benefjts Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £3,942 {2023: £3,233). 36
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements (contlnugd) Year ended 31 March 2024 22. Analysls of charitable funds Unrestricted funds At Gains and 31 March 20 losses 24 At 1 April 2023 Income Expenditur8 General funds 511.922 636.614 (337.974) 67,443 878.005 At Gains and 31 March 20 losses 23 At 1 April 2022 Income Expenditure General funds 1.142.753 554,561 (1,140.109) (45,283) 511,922 23. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Investments Current assets Creditors less than 1 year Credilors greater than 1 year Net assets 9,512 9.512 753,971 753,971 678,154 678.154 (265,631) {265,631 } (298,001) {298.001 } 878,005 878,005 Unrestricted Total Funds Funds 2023 Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 7,638 7,638 678,536 678.536 692,240 692.240 1395,746} 1395.746) {470,746) 1470.746) 511.922 511,922 24. Flnancial instruments The carrying amount for each category of financlal instrument is as follows: 2024 2023 Financial assets that are debt instruments measured at amortised cost Financial assets that are debt instruments measured at amortised cost 160,509 153,657 37
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements (¢onOnu8 Year ended 31 March 2024 24. Financlal Instruments (condnuedj 2024 2023 Flnancial assets that are equlty instruments measured at cost less impairnient Financial assets that are equty instruments measured at cost less impainnent 753,971 678,536 Financial Ilabilities measured at amortised cost Financial liabilities measured at amortised cost 558,620 861,683 25. Analysls of changes In net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand 457,581 55,427 513.008 26. Operating lease commltments The total future minimum lease payments under non-cancellabie operating leases are as follows: 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 3,492 3,492 3,492 6,984 6.984 10,476 27. Limitatlon of auditors Ilability The company has entered into a liabilty limitation agreement with its auditor, Aubrey Campbell and Company. on the following basis: (a) the maximum aggregate amount of the auditols liabilty to the company shall not exceed the sum of five times the fees payable (excluding expenses and value added tax) under the engagement letter agreed for the financial perM)d, or £30.000. whichever is the lesser amount. (b) the agreement was passed by a resolution of the company's trustees on 16th September 2024. 38
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Financial Statements fcontlnugd) Year ended 31 March 2024 28. Related parties During the yearthere were members ofthe Agrisearch advisory committees and Board ofTruste8S who were involved as farmer co-researchers in projects which Agrisearch co-funded. The advisory committees are in place to review funding and expenditure proposals. A total of £10,400 (2023.. £7,000) was paid out to three members of the Beef advisory committee, two members ofthe Dairy advisory Committee and four members of the Sheep advisory committee. Two trustees sit on the board of AHWNI. Agrisearch collected levies of£nil (2023: £9,296)on behalf of AHWNI and made payments of £nil (2023: £9.296) to AHWNI during the year. The levy agreement between Agrisearch and AHWNI ended during the previous year and now goes directly to AHWNI. John Henning. a trustee of Agrisearch (until his resignation on 2811112023) was also a director of CIELivestock Limited. CIELivestock provide services to the charity within the terms of their charitable activities. CIELivestock Limited was paid a total of £71412023- £1,025). Conall Donnelly. truslee of Agrisearch until his resignation on 2810412023 is a director of Countryside Services Limited. A total of £180 (2023.. £446) was paid to Countryside Services Ltd for services provided across charitable activities. 39
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Management Information Year ended 31 March 2024 The following pages do not fomi part of the financial statements. 40
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Income and endowments Donatlons and legacies Donations and gifts Grants receivable 470,561 150,890 476,040 64,052 621.451 540.092 Investment Income Income from other investments Other interest receivable 12.060 3.103 13.776 693 15,163 14,469 Total income 636,614 554.561 Expenditure Expenditure on charitable activitles Wages and salaries Employer's NIC Pension costs Rent Insurance Legal and professional fees Other offiGe costs Depreciation Loss on disposal of tsngible fixed assets Dissemination costs AHWNI Project expenditure Management charge Website Other Investment fees 167,765 11,537 3,942 3,492 3,559 33.077 1.361 3.410 17 37.585 158,158 9,928 3.233 2.619 3,320 19,936 2,578 2,677 28,370 9,296 889,901 300 2,235 3,582 3,976 55,320 90 5,783 7,134 3,902 (337,974) (1,140.109) Total expenditure (337.974) (1,140,109) 41
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Detailed Statement of Financial Activities (¢ontlnu8d) Year ended 31 March 2024 2024 2023 Net {gains)Ilosses on investments (Gains)Ilosses on other investment assets (67,443) 45.283 Net incomellexpenditure) 366,083 1630,831) 42
The Northern Ireland Agricultural Research and Development Council TIA Agrisearch Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Expenditure on charitable activities Research and development in the agricultural Industry. Activltles undertaken directly Direct Gharitable activity wageslsalartes Direct charitable activity employer's NIC Direct charitable activity - pension ¢osts Direct charitable activity - legal and professional fees Direct charilable activity - Dissemination costs Direct charitable activity - AHWNI Direct charitable activity - project expenditure 113,911 7,831 2,659 5,175 37.585 125,580 7,952 2,509 4,781 28,370 9,296 889,901 55,320 222,481 1,068,389 Support costs Support Gharitable activity- wageslsalaries Support Charitable activity- employer's NIC Support charitable aclivity - pension costs Support charitable activity - rent Support Gharitable activity- insurance Support charitable activity- other office ¢osts Support charitable activity- depreciation Support charitable activity- loss on disposal of tangible fixed assets Support charitable aGtivity- management charge Support charitable activity - website Support Gharitable activity - other Support charitable activity- investment fees 53,854 3,706 1,283 3,492 3,559 1,361 3,410 17 90 5.783 7.134 3,902 32,578 1,976 724 2,619 3,320 2,578 2,677 300 2,235 3.582 3.976 87,591 56,565 Governance costs Governance costs - accountancy fees Governance costs - audit fees Governance costs - legal and other professional fees Governance costs - Advisory 5UPPOrt costs 1,000 5.000 15,470 6,432 1,000 5,000 1,672 7,483 27.902 15.155 Expenditure on charitable a¢tivities (337,974) (1,140,109} 43