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