REGISTERED NUMBER: NI033747 (Northern Ireland)

COUNTRYSIDE SERVICES LIMITED

Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D W Aston

D A Brown

C E Donnelly

J L McLenaghan

C J T Morton

SECRETARY:

P Sterritt

REGISTERED OFFICE:

97 Moy Road, Dungannon

Dungannon

Tyrone

REGISTERED NUMBER:

NI033747 (Northern Ireland)

AUDITORS:

Cooper Parry Audit (Ireland) Limited

Statutory Auditor

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

NON-CURRENT ASSETS

Intangible assets

5

544,289

403,859

Tangible assets

6

699,954

647,585

Investments

7

1,019,053

1,599,151

2,263,296

2,650,595

CURRENT ASSETS

Stocks

8

564,316

552,535

Receivables

9

1,541,724

871,019

Cash at bank

852,614

1,160,064

2,958,654

2,583,618

PAYABLES

Amounts falling due within one year

10

(1,761,656

)

(1,935,517

)

NET CURRENT ASSETS

1,196,998

648,101

TOTAL ASSETS LESS CURRENT LIABILITIES

3,460,294

3,298,696

PAYABLES

Amounts falling due after more than one year

11

(342,727

)

(478,048

)

PROVISIONS FOR LIABILITIES

(217,024

)

(191,124

)

NET ASSETS

2,900,543

2,629,524

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,900,541

2,629,522

2,900,543

2,629,524

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

C E Donnelly - Director

1.	STATUTORY INFORMATION

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 97 Moy Road, Dungannon, County Tyrone, BT71 7HA.

The principal activity of the company during the year was the provision of information, commercial and professional services to the farming and rural community.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention modified to include certain items at fair value. The financial reporting framework that has been applied in their preparation is the Companies Act 2006 (the Act) and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland issued by the Financial Reporting Council.

The financial statements have been prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they have adopted the going concern basis of accounting in preparing these financial statements.

Significant judgements and key sources of estimation uncertainty

The Directors do not consider that any critical judgements have been made in the application of the company's accounting policies.

The key assumptions concerning the future, and other key sources of estimation uncertainty at the balance sheet date, that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are discussed below.

Long-term contracts:

The company engages in the performance of fixed price contracts, as opposed to cost plus contracts. Contract costs are recognised as incurred.

When the outcome of a contract can be estimated reliably the company recognises revenue in accordance with the percentage-of-completion method. The completion percentage is generally based on the proportion of contract costs incurred at the balance sheet date relative to the total estimated costs of the contract. When the outcome of a contract cannot be estimated reliably, contract revenue is recognised only to the extent where it is probable that these costs will be recoverable.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised immediately as an expense. Revenue and/or costs in respect of variations or contract claims and incentive payments, to the extent that they arise, are recognised when it is probable that the amount, which can be measured reliably, will be recovered from/paid to the customer.

If circumstances arise that may change the original estimates of revenues, costs or extent of progress towards completion, estimates are revised. These revisions may result in increases or decreases in revenue or costs and are reflected in income in the period in which the circumstances that give rise to the revision became known by management.

Turnover

Livestock identification: Turnover represents the invoiced value of goods supplied during the year excluding value added tax and is net of sales returns, trade discounts and rebates. Turnover is recognised when title to the product is transferred to the customer.

Long-term contracts: Turnover is calculated by reference to the value of work performed to date as a proportion of the total contract value together with attributable profit. Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Tangible fixed assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Leasehold building expenditure - 4 - 12.5% straight line

Tag production equipment - 12.5 - 20% straight line

Office fixtures and equipment - 20 - 33.3% straight line

Motor vehicles - 20% straight line

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks

Stocks are stated at the lower of cost and net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

The company have chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial

instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties and are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual

obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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.

Cash and cash equivalents

Cash consists of cash on hand and demand deposits.

Loans and borrowings

All loans and borrowings, both assets and liabilities are initially recorded at the present value of the cash payable to the lender in settlement of the liability discounted at the market interest rate. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current assets or liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least twelve months after the financial reporting date.

Dividends

Dividends to the company's equity shareholders are recognised as a liability of the company when approved by the company's shareholders.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

Other financial assets

Other financial assets comprise of trade debtors, amounts due from group undertakings and other debtors. Other financial assets are initially measured at the undiscounted amount of cash receivable and are subsequently measured at amortised cost less impairment, where there is objective evidence of an impairment.

Other financial liabilities

Other financial liabilities include trade creditors, amounts owed to group undertakings and other creditors. Other financial liabilities are measured at invoice cost.

Ordinary Share Capital

The ordinary share capital of the company is presented as equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 25 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

403,859

Additions

140,430

At 31 December 2024

544,289

NET BOOK VALUE

At 31 December 2024

544,289

At 31 December 2023

403,859

6.	PROPERTY, PLANT AND EQUIPMENT

Leasehold

Tag

Fixtures

building

production

and

Motor

expenditure

equipment

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

268,282

917,380

167,473

25,750

1,378,885

Additions

109,763

24,664

46,368

-

180,795

At 31 December 2024

378,045

942,044

213,841

25,750

1,559,680

DEPRECIATION

At 1 January 2024

49,375

527,063

134,216

20,646

731,300

Charge for year

6,263

96,590

22,003

3,570

128,426

At 31 December 2024

55,638

623,653

156,219

24,216

859,726

NET BOOK VALUE

At 31 December 2024

322,407

318,391

57,622

1,534

699,954

At 31 December 2023

218,907

390,317

33,257

5,104

647,585

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

1,939,704

Additions

42,480

Dividends received

(622,578

)

At 31 December 2024

1,359,606

PROVISIONS

At 1 January 2024

and 31 December 2024

340,553

NET BOOK VALUE

At 31 December 2024

1,019,053

At 31 December 2023

1,599,151

During the year, the company owned 100% of the share capital in the following companies:

TopTags ID Systems Ltd, DL ID Ltd and Dalton Livestock Identification Ltd, which have the registered address of 1-3 Whittle Close, Newark, England, NG24 2DY.

Dalton Tags Ltd share the same registered address as the company, 97 Moy Road, Dungannon, Northern Ireland, BT71 7DX.

During the year, the company owned 60% of the share capital in Precision Livestock Measurement Ltd, which shares the same address as the company.

Dalton Tags Ltd was dissolved on 23 January 2024.

8.

STOCKS

2024

2023

£

£

Inventories

564,316

552,535

9.

RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade receivables

652,997

735,428

Other receivables

378,887

130,875

Amounts owed by group undertakings

509,840

4,716

1,541,724

871,019

The amount owed by group undertakings are interest free and payable on demand.

10.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

143,407

180,578

Trade payables

849,546

536,930

Amounts owed to group undertakings

-

337,615

Corporation Tax

24,307

130,321

Social security and other taxes

94,137

186,645

Other payables

32,552

4,588

Accruals and deferred income

617,707

558,840

1,761,656

1,935,517

The amount owed to group undertakings are interest free and payable on demand.

Bank loans relate to external bank loans and the Coronavirus Business Interruption Loan (CBIL) Scheme. As per the terms of this Scheme the UK Government covers the interest due on the loan for the first twelve months and provides the lender with a government-backed, partial guarantee of eighty percent against the outstanding facility balance. The company remains liable for the full amount of the debt owed on CBIL loans, and has given a floating charge over total exposure on bank facilities.

11.

PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

342,727

478,048

Security on bank loans have been disclosed in note 10.

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ryan Falls (FCA) (Senior Statutory Auditor)

for and on behalf of Cooper Parry Audit (Ireland) Limited

13.	CONTINGENT LIABILITIES

Countryside Services Limited have made a voluntary disclosure to HMRC in respect of prior year matters. The outcome of the disclosure at the date of signing these financial statements is yet to be determined and as such no estimate of any liabilities can be made.

14.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

15.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party and undertaking is the Ulster Farmers' Union as it holds 100% of the company's issued share capital.