Rural Support
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 59,382 | – | 59,382 | 64,296 |
| Charitable activities | 6 | 182,723 | 961,601 | 1,144,324 | 837,160 |
| Investment income | 7 | 998 | – | 998 | 2,363 |
───────── |
───────── |
──────────── |
───────── |
||
| Total income | 243,103 | 961,601 | 1,204,704 | 903,819 | |
═════════ |
═════════ |
════════════ |
═════════ |
||
| Expenditure | |||||
| Expenditure on charitable activities | 8,9 | 383,578 | 812,775 | 1,196,353 | 937,328 |
───────── |
───────── |
──────────── |
───────── |
||
| Total expenditure | 383,578 | 812,775 | 1,196,353 | 937,328 | |
═════════ |
═════════ |
════════════ |
═════════ |
||
───────── |
───────── |
──────────── |
───────── |
||
| Net income/(expenditure) | (140,475) | 148,826 | 8,351 | (33,509) | |
═════════ |
═════════ |
════════════ |
═════════ |
||
| Transfers between funds | 3,658 | (3,658) | – | – | |
───────── |
───────── |
──────────── |
───────── |
||
| Net movement in funds | (136,817) | 145,168 | 8,351 | (33,509) | |
| Reconciliation of funds | |||||
| Total funds brought forward | 230,490 | (1,622) | 228,868 | 262,377 | |
───────── |
───────── |
──────────── |
───────── |
||
| Total funds carried forward | 93,673 | 143,546 | 237,219 | 228,868 | |
═════════ |
═════════ |
════════════ |
═════════ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 18 to 29 form part of these financial statements.
15
Rural Support
Company Limited by Guarantee
Statement of Financial Position
31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 15 | 13,472 | 9,885 |
| Current assets | |||
| Debtors | 16 | 296,835 | 96,359 |
| Cash at bank and in hand | 75,852 | 245,675 | |
| ───────── | ───────── | ||
| 372,687 | 342,034 | ||
| Creditors: amounts falling due within one year | 17 | 148,940 | 123,051 |
| ───────── | ───────── | ||
| Net current assets | 223,747 | 218,983 | |
| ───────── | ───────── | ||
| Total assets less current liabilities | 237,219 | 228,868 | |
| ───────── | ───────── | ||
| Net assets | 237,219 | 228,868 | |
| ═════════ | ═════════ | ||
| Funds of the charity | |||
| Restricted funds | 143,546 | (1,622) | |
| Unrestricted funds | 93,673 | 230,490 | |
| ───────── | ───────── | ||
| Total charity funds | 20 | 237,219 ═════════ |
228,868 ═════════ |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 4 December 2025, and are signed on behalf of the board by:
Lan Vererrnn
I H Stevenson Trustee
The notes on pages 18 to 29 form part of these financial statements.
16
Rural Support
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income/(expenditure) | 8,351 | (33,509) |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 5,046 | 3,799 |
| Other interest receivable and similar income | (998) | (2,363) |
| Interest payable and similar charges | 608 | 510 |
| Accrued (income)/expenses | (51,466) | 25,361 |
| Changes in: | ||
| Trade and other debtors | (148,291) | 5,265 |
| Trade and other creditors | 25,170 | (10,038) |
───────── |
──────── |
|
| Cash generated from operations | (161,580) | (10,975) |
| Interest paid | (608) | (510) |
| Interest received | 998 | 2,363 |
───────── |
──────── |
|
| Net cash used in operating activities | (161,190) | (9,122) |
═════════ |
════════ |
|
| Cash flows from investing activities | ||
| Purchase of tangible assets | (8,633) | (11,980) |
───────── |
──────── |
|
| Net cash used in investing activities | (8,633) | (11,980) |
═════════ |
════════ |
|
| Net decrease in cash and cash equivalents | (169,823) | (21,102) |
| Cash and cash equivalents at beginning of year | 245,675 | 266,777 |
───────── |
───────── |
|
| Cash and cash equivalents at end of year | 75,852 | 245,675 |
═════════ |
═════════ |
The notes on pages 18 to 29 form part of these financial statements.
17
Rural Support
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2025
1. 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 Unit 3 Molesworth Place, Molesworth Street, Cookstown, BT80 8NX, Northern Ireland.
2. Statement of compliance
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 (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting 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 estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
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 two sub-classes: restricted income funds or endowment funds.
18
Rural Support
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost 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 depreciation and subsequent accumulated impairment losses.
19
Rural Support
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Tangible assets (continued)
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 charge 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 the useful economic life of that asset as follows:
Fixtures and fittings - 33% straight line Office Equipment - 33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the 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 assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment 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 is recognised only when the charity becomes a party 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.
20
Rural Support
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Financial instruments (continued)
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 at cost less impairment.
Other financial instruments, including derivatives, are initially 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.
Other financial 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 instruments 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 the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined 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 discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The company is a company limited by guarantee and not having a share capital. The liability of guarantors is limited to £1 in the event of the company being wound up.
21
Rural Support
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2025 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations and Legacies | 59,382 | – | 59,382 | |
════════ |
════ |
════════ |
||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations and Legacies | 63,555 | 741 | 64,296 | |
════════ |
════ |
════════ |
||
| 6. | Charitable activities | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2025 | ||
| £ | £ | £ | ||
| DAERA - Core | – | 304,298 | 304,298 | |
| DAERA - Social Farming | – | 78,751 | 78,751 | |
| DAERA - Farming for Generations | – | 212,838 | 212,838 | |
| Public Health Agency | – | 73,626 | 73,626 | |
| Rural Health Form | – | 5,711 | 5,711 | |
| Princes Countryside Fund - Resilience | – | 40,652 | 40,652 | |
| Farm Family Key Skills | – | – | – | |
| RABI & LFT Fund | – | 8,725 | 8,725 | |
| Plough On | – | 108,641 | 108,641 | |
| Life Beyond | 102,923 | – | 102,923 | |
| Reviving Rural | – | – | – | |
| Awards for All | – | 20,000 | 20,000 | |
| NFU | 75,000 | – | 75,000 | |
| Dormant Accounts | – | 58,843 | 58,843 | |
| Northern Trust | – | 46,562 | 46,562 | |
| Ireland Funds | – | 1,954 | 1,954 | |
| Study Tour Deposits | – | – | – | |
| BOTG | 4,800 | – | 4,800 | |
| Farmers Choir | – | – | – | |
| Elevate | – | 1,000 | 1,000 | |
| AI Services | – | – | – | |
| Other income from charitable activities | – | – | – | |
───────── |
───────── |
──────────── |
||
| 182,723 | 961,601 | 1,144,324 | ||
═════════ |
═════════ |
════════════ |
22
Rural Support
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
6. Charitable activities (continued)
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| DAERA - Core | – | 234,711 | 234,711 |
| DAERA - Social Farming | – | 75,969 | 75,969 |
| DAERA - Farming for Generations | – | – | – |
| Public Health Agency | – | 89,033 | 89,033 |
| Rural Health Form | – | – | – |
| Princes Countryside Fund - Resilience | – | 45,136 | 45,136 |
| Farm Family Key Skills | – | 9,230 | 9,230 |
| RABI & LFT Fund | – | 11,275 | 11,275 |
| Plough On | – | 95,241 | 95,241 |
| Life Beyond | 85,211 | – | 85,211 |
| Reviving Rural | – | 49,387 | 49,387 |
| Awards for All | – | – | – |
| NFU | 104,654 | – | 104,654 |
| Dormant Accounts | – | 14,444 | 14,444 |
| Northern Trust | – | 6,120 | 6,120 |
| Ireland Funds | – | – | – |
| Study Tour Deposits | – | 4,810 | 4,810 |
| BOTG | 2,970 | – | 2,970 |
| Farmers Choir | – | 3,160 | 3,160 |
| Elevate | – | 4,000 | 4,000 |
| AI Services | – | 808 | 808 |
| Other income from charitable activities | 208 | 793 | 1,001 |
───────── |
───────── |
───────── |
|
| 193,043 | 644,117 | 837,160 | |
═════════ |
═════════ |
═════════ |
7. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 998 | 998 | 2,363 | 2,363 |
════ |
════ |
═══════ |
═══════ |
23
Rural Support
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
8. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Rural Support | 177,674 | 678,321 | 855,995 |
| Support costs | 205,904 | 134,454 | 340,358 |
───────── |
───────── |
──────────── |
|
| 383,578 | 812,775 | 1,196,353 | |
═════════ |
═════════ |
════════════ |
|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Rural Support | 139,548 | 584,775 | 724,323 |
| Support costs | 118,970 | 94,035 | 213,005 |
───────── |
───────── |
───────── |
|
| 258,518 | 678,810 | 937,328 | |
═════════ |
═════════ |
═════════ |
9. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly | Support costs | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Rural Support | 855,995 | 262,595 | 1,118,590 | 918,639 |
| Governance costs | – | 77,763 | 77,763 | 18,689 |
───────── |
───────── |
──────────── |
───────── |
|
| 855,995 | 340,358 | 1,196,353 | 937,328 | |
═════════ |
═════════ |
════════════ |
═════════ |
|
| Analysis of support costs | ||||
| Analysis of | ||||
| Support | ||||
| Costs | Total 2025 | Total 2024 | ||
| £ | £ | £ | ||
| Staff costs | 94,390 | 94,390 | 98,380 | |
| Premises | 33,619 | 33,619 | 20,621 | |
| Communications and IT | 79,774 | 79,774 | 44,078 | |
| General office | 22,770 | 22,770 | 16,174 | |
| Human resources | 32,042 | 32,042 | 15,063 | |
| Governance costs | 77,763 | 77,763 | 18,689 | |
───────── |
───────── |
───────── |
||
| 340,358 | 340,358 | 213,005 | ||
═════════ |
═════════ |
═════════ |
||
| Net income/(expenditure) | ||||
| Net income/(expenditure) is stated after | charging/(crediting): | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | 5,046═══════ |
3,799═══════ |
10. Analysis of support costs
11. Net income/(expenditure)
24
Rural Support
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
12. Auditors remuneration
Fees payable for the audit of the financial statements
| 2025 | 2024 |
|---|---|
| £ | £ |
| 5,520 | 4,200 |
═══════ |
═══════ |
13. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as | The total staff costs and employee benefits for the reporting period are analysed as | follows: |
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Wages and salaries | 538,057 | 502,419 |
| Social security costs | 50,493 | 42,879 |
| Employer contributions to pension plans | 29,339 | 28,342 |
───────── |
───────── |
|
| 617,889 | 573,640 | |
═════════ |
═════════ |
The average head count of employees during the year was 18 (2024: 18). The average number of full-time equivalent employees during the year is analysed as follows:
| 2025 | 2024 | |
|---|---|---|
| No. | No. | |
| Number of staff | 18 | 18 |
════ |
════ |
Redundancy payments were made to two staff during the year, which included ex-gratia payments of £8,074. The redundancies arose from the restructuring of management structure in the charity.
The number of employees whose remuneration for the year fell within the following bands, were:
| 2025 | 2024 | ||
|---|---|---|---|
| No. | No. | ||
| £60,000 | to £69,999 | 1 | – |
════ |
════ |
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £147,256 (2024: £202,303).
14. Trustee remuneration and expenses
No Members of the Board of Trustees received any remuneration or reimbursement of out-of-pocket expenses during the year (2024: £nil).
No Trustee or other person related to the charity had any personal interest in any contact or transaction entered into by the charity during the year (2024: £nil).
25
Rural Support
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
15. Tangible fixed assets
| Fixtures and | ||||
|---|---|---|---|---|
| fittings | Equipment | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 April 2024 | 16,833 | 30,611 | 47,444 | |
| Additions | 1,920 | 6,713 | 8,633 | |
──────── |
──────── |
──────── |
||
| At 31 March 2025 | 18,753 | 37,324 | 56,077 | |
════════ |
════════ |
════════ |
||
| Depreciation | ||||
| At 1 April 2024 | 10,860 | 26,699 | 37,559 | |
| Charge for the year | 2,519 | 2,527 | 5,046 | |
──────── |
──────── |
──────── |
||
| At 31 March 2025 | 13,379 | 29,226 | 42,605 | |
════════ |
════════ |
════════ |
||
| Carrying amount | ||||
| At 31 March 2025 | 5,374 | 8,098 | 13,472 | |
════════ |
════════ |
════════ |
||
| At 31 March 2024 | 5,973 | 3,912 | 9,885 | |
════════ |
════════ |
════════ |
||
| 16. | Debtors | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Trade debtors | 138,579 | 4,539 | ||
| Prepayments and accrued income | 156,163 | 90,927 | ||
| Other debtors | 2,093 | 893 | ||
───────── |
──────── |
|||
| 296,835 | 96,359 | |||
═════════ |
════════ |
|||
| 17. | Creditors: amounts falling due within one year | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Trade creditors | 66,459 | 19,276 | ||
| Accruals and deferred income | 62,791 | 84,980 | ||
| Social security and other taxes | 19,189 | 14,062 | ||
| Other creditors | 501 | 4,733 | ||
───────── |
───────── |
|||
| 148,940 | 123,051 | |||
═════════ |
═════════ |
|||
| 18. | Deferred income | |||
| 2025 | 2024 | |||
| £ | £ | |||
| At 1 April 2024 | 80,179 | 94,734 | ||
| Amount released to income | (80,179) | (94,734) | ||
| Amount deferred in year | 57,271 | 80,179 | ||
──────── |
──────── |
|||
| At 31 March 2025 | 57,271 | 80,179 | ||
════════ |
════════ |
26
Rural Support
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
19. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £29,339 (2024: £28,342).
20. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At 31 | ||||
| 1 April 2024 | Income | Expenditure | Transfers | March 2025 | |
| £ | £ | £ | £ | £ | |
| General funds | 230,490 | 243,103 | (383,578) | 3,658 | 93,673 |
═════════ |
═════════ |
═════════ |
═══════ |
════════ |
|
| At | At 31 | ||||
| 1 April 2023 | Income | Expenditure | Transfers | March 2024 | |
| £ | £ | £ | £ | £ | |
| General funds | 239,969 | 258,961 | (258,518) | (9,922) | 230,490 |
═════════ |
═════════ |
═════════ |
═══════ |
═════════ |
|
| Restricted funds | |||||
| At | At 31 | ||||
| 1 April 2024 | Income | Expenditure | Transfers | March 2025 | |
| £ | £ | £ | £ | £ | |
| DAERA - Core | (11,299) | 304,298 | (303,861) | – | (10,862) |
| DAERA - Social Farming | (4,575) | 78,751 | (82,737) | – | (8,561) |
| DAERA - Farming for | |||||
| Generations | – | 212,838 | (103,654) | – | 109,184 |
| Public Health Agency | 21,959 | 73,626 | (71,183) | – | 24,402 |
| PCF - Resilience | (2,759) | 28,304 | (10,700) | – | 14,845 |
| Farm Family Key Skills | 4,033 | – | – | (4,033) | – |
| RABI & LFT Fund | – | 8,725 | (2,605) | – | 6,120 |
| Plough On | (5,873) | 108,641 | (100,319) | – | 2,449 |
| Reviving Rural | – | – | – | – | – |
| NFU | (95) | – | – | 95 | – |
| Dormant Accounts | – | 58,843 | (58,843) | – | – |
27
Rural Support
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
20. Analysis of charitable funds (continued)
| Northern Trust | – | 46,562 | (44,582) | – | 1,980 |
|---|---|---|---|---|---|
| Arts Council NI | (630) | – | – | 630 | – |
| Farmers Choir | 350 | – | – | (350) | – |
| PCF Grant | (1,733) | 12,348 | (8,798) | – | 1,817 |
| Elevate | (1,000) | 1,000 | – | – | – |
| AI Services | – | – | – | – | – |
| Rural Health Forum | – | 5,711 | (5,858) | – | (147) |
| Awards for All | – | 20,000 | (17,681) | – | 2,319 |
| Ireland Fund | – | 1,954 | (1,954) | – | – |
─────── |
───────── |
───────── |
─────── |
───────── |
|
| (1,622) | 961,601 | (812,775) | (3,658) | 143,546 | |
═══════ |
═════════ |
═════════ |
═══════ |
═════════ |
|
| At | At 31 | ||||
| 1 April 2023 | Income | Expenditure | Transfers | March 2024 | |
| £ | £ | £ | £ | £ | |
| DAERA - Core | – | 234,711 | (246,010) | – | (11,299) |
| DAERA - Social Farming | – | 82,882 | (87,457) | – | (4,575) |
| DAERA - Farming for | |||||
| Generations | – | – | – | – | – |
| Public Health Agency | 2,257 | 89,033 | (69,331) | – | 21,959 |
| PCF - Resilience | – | 30,136 | (32,895) | – | (2,759) |
| Farm Family Key Skills | 20,151 | 9,230 | (25,348) | – | 4,033 |
| RABI & LFT Fund | – | 11,275 | (11,275) | – | – |
| Plough On | – | 96,620 | (102,493) | – | (5,873) |
| Reviving Rural | – | 49,387 | (59,309) | 9,922 | – |
| NFU | – | – | (95) | – | (95) |
| Dormant Accounts | – | 14,444 | (14,444) | – | – |
| Northern Trust | – | – | – | – | – |
| Arts Council NI | – | 4,810 | (5,440) | – | (630) |
| Farmers Choir | – | 3,160 | (2,810) | – | 350 |
| PCF Grant | – | 15,000 | (16,733) | – | (1,733) |
| Elevate | – | 4,000 | (5,000) | – | (1,000) |
| AI Services | – | 170 | (170) | – | – |
| Rural Health Forum | – | – | – | – | – |
| Awards for All | – | – | – | – | – |
| Ireland Fund | – | – | – | – | – |
──────── |
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──────── |
|
22,408════════ |
644,858═════════ |
(678,810)═════════ |
9,922═══════ |
(1,622)════════ |
Restricted funds which are in deficit as at 31 March 2025 are in relation to multi-year funding arrangements and are currently operating within budget.
Transfers from restricted to unrestricted funds have taken place in the year, these balances have been fully spent, and all contractual obligations have been met in the relation to these funds.
28
Rural Support
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
21. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Tangible fixed assets | 13,472 | – | 13,472 |
| Current assets | 169,274 | 203,413 | 372,687 |
| Creditors less than 1 year | (89,073) | (59,867) | (148,940) |
───────── |
───────── |
───────── |
|
| Net assets | 93,673 | 143,546 | 237,219 |
═════════ |
═════════ |
═════════ |
|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | 9,885 | – | 9,885 |
| Current assets | 263,477 | 78,557 | 342,034 |
| Creditors less than 1 year | (42,872) | (80,179) | (123,051) |
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──────── |
───────── |
|
| Net assets | 230,490 | (1,622) | 228,868 |
═════════ |
════════ |
═════════ |
|
| Analysis of changes in net debt | |||
| At | |||
| At 1 Apr 2024 | Cash flows | 31 Mar 2025 | |
| £ | £ | £ | |
| Cash at bank and in hand | 245,675═════════ |
(169,823)═════════ |
75,852════════ |
22. Analysis of changes in net debt
23. Contingencies
A contingent liability exists to repay grants received should certain conditions not be fulfilled by the charity. In the opinion of the Trustees, the terms of the Letters of Offer have been, or will be, complied with and no liability is expected.
24. Related parties
There were no related parties in the 2024/25 financial year (2024: £Nil)
25. Taxation
The Company is a registered charity, and as such is entitled to tax exemptions on income and profits in furtherance of the charity's primary objectives.
26. Ethical standards
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
29