Company registration number 09922986 (England and Wales)
CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
COMPANY INFORMATION
Directors
Mr J D Lea
(Appointed 28 March 2025)
Dr P Quinn
Company number
09922986
Registered office
Centre for Innovation Excellence in Livestock
Innovation Centre – Suite 0.15
York Science Park
Innovation Way
Heslington
York
YO10 5DG
Auditor
BHP LLP
Rievaulx House
1 St Marys Court
Blossom Street
York
England
YO24 1AH
CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
CONTENTS
Page
Directors' report
1 - 2
Independent auditor's report
3 - 5
Income and expenditure account
6
Balance sheet
7
Notes to the financial statements
8 - 16
CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

The directors present their annual report and financial statements for the year ended 31 March 2025.

Principal activities

The principal activity of CIEL is to support, promote and deliver industry-led livestock research.

On 1 April 2024 a merger was enacted and the operations of this entity were transferred to UK Agri-Tech Centre Limited, the new parent entity.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr T M Bennett
(Resigned 1 April 2024)
Ms F C Fell
(Resigned 1 April 2024)
Mr C J Henning
(Resigned 1 April 2024)
Ms U Lavery
(Resigned 1 April 2024)
Mr N C Major
(Resigned 1 April 2024)
Prof Q A McKellar
(Resigned 1 April 2024)
Mr J D Lea
(Appointed 28 March 2025)
Mr P J Bicknell
(Resigned 28 March 2025)
Dr P Quinn
Auditor

BHP LLP were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr J D Lea
Dr P Quinn
Director
Director
30 September 2025
CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CIELIVESTOCK LIMITED
- 3 -
Opinion

We have audited the financial statements of CIELivestock Limited (the 'company') for the year ended 31 March 2025 which comprise the income and expenditure account, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its deficit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the directors' report has been prepared in accordance with applicable legal requirements.

CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CIELIVESTOCK LIMITED (CONTINUED)
- 4 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the directors' r eport. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit; or

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- we identified the laws and regulations applicable to the company through discussions with directors and from our commercial knowledge and experience of the sector; and

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation, employment, and health and safety legislation.

CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CIELIVESTOCK LIMITED (CONTINUED)
- 5 -

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non

- compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation; and

- reading the minutes of meetings of those charged with governance; and

- enquiring of management as to actual and potential litigation and claims.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Laura Masheder (Senior Statutory Auditor)
For and on behalf of BHP LLP, Statutory Auditor
Chartered Accountants
Rievaulx House
1 St Marys Court
Blossom Street
York
YO24 1AH
England
6 October 2025
CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
2025
2024
as restated
£
£
Income
231,561
3,488,481
Cost of sales
(36,918)
(1,208,905)
Gross surplus
194,643
2,279,576
Administrative expenses
(237,694)
(2,086,316)
Operating (deficit)/surplus
(43,051)
193,260
Interest receivable and similar income
6,728
3,094
(Deficit)/surplus before taxation
(36,323)
196,354
Tax on (deficit)/surplus
5,288
(40,828)
(Deficit)/surplus for the financial year
(31,035)
155,526

The income and expenditure account has been prepared on the basis that all operations are continuing operations.

CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 7 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
5
-
0
88,471
Tangible assets
6
5,964
18,773
5,964
107,244
Current assets
Stocks
-
2,441
Debtors
7
105,177
437,142
Cash at bank and in hand
698,649
1,027,314
803,826
1,466,897
Creditors: amounts falling due within one year
8
(73)
(737,635)
Net current assets
803,753
729,262
Total assets less current liabilities
809,717
836,506
Provisions for liabilities
-
0
4,246
Net assets
809,717
840,752
Reserves
Income and expenditure account
809,717
840,752
Total members' funds
809,717
840,752

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

The financial statements were approved by the board of directors and authorised for issue on 30 September 2025 and are signed on its behalf by:
Mr J D Lea
Dr P Quinn
Director
Director
Company registration number 09922986 (England and Wales)
CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
1
Accounting policies
Company information

CIEL is a private company limited by guarantee incorporated in England and Wales. The registered office is Centre for Innovation Excellence in Livestock, Innovation Centre – Suite 0.15, York Science Park, Innovation Way, Heslington, York, YO10 5DG.

1.1
Accounting convention

The company constitutes a public benefit entity as defined by FRS 102. These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) including the provisions applicable to public benefit entities and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Going concern

The directors/members have considered all factors, including in the wider economy, as part of their assessment of going concern. On 1 April 2024, the business transferred to UK Agri-Tech Centre Limited as part of a merger. The company is not expected to trade and will become dormant and will continue to hold significant reserves.

Therefore, the directors believe, on balance, that they have sufficient resources to enable the company to continue for a period of at least twelve months from the date of approval of the financial statements. Accordingly, these financial statements have been prepared on the going concern basis.

1.3
Income and expenditure

Income is measured at the fair value of the amount receivable net of Value Added Tax. The policies adopted for the recognition of income are as follows:

Grant income is recognised when there is reasonable assurance that the company has complied with the conditions attached to them and the amount of the grant income can be reliably measured.

Membership income is accounted for in the period in which the membership is provided, over the duration of the service.

Deferred income is recognised in profit or loss on a systematic basis over the useful life of any capitalised asset purchased using the Operating Grant.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
33% on cost

Intangible assets will be amortised once commissioned and brought into use.

CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 9 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33% straight line
Fixtures and fittings
33% straight line
Computers
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 10 -
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through surplus and deficit, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 surplus or deficit.

If there is a 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 surplus or deficit.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 11 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in surplus or deficit in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 12 -

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13

Government grants

One of CIEL's core activities historically has been the handling and administration of capital spend in relation to livestock research on behalf of Members. These transactions were not represented in the financial statements, reflecting the status of legal ownership which resides with Members. £Nil (202 4: £nil) of capital spend was processed in the financial year, building on the capital spend processed in the preceding years (when approximately £32.4m was processed). Subsequent to the merger with UK Agri-Tech Centre on 1 April 2024 all future capital activity was transferred to that entity.

Grants for research activities are recognised in accordance with the substance of the underlying agreement, and the respective roles and responsibilities of CIEL and its partner organisations on each project.

CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 13 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors 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 where the revision affects both current and future periods.

There are no key estimates or assumptions which materially impact on the carrying value of assets or liabilities.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
30

The Directors are not remunerated in this entity.

All employee contracts were novated to UK Agri-Tech Centre Limited on 1 April 2024.

4
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in surplus or deficit:

2025
2024
Notes
£
£
In respect of:
Intangible assets
5
48,818
-
0
Recognised in:
Administrative expenses
48,818
-
CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 14 -
5
Intangible fixed assets
Other
£
Cost
At 1 April 2024 and 31 March 2025
118,970
Amortisation and impairment
At 1 April 2024
30,499
Amortisation charged for the year
39,653
Impairment losses
48,818
At 31 March 2025
118,970
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
88,471

More information on impairment movements in the year is given in note 4.

6
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2024
250,471
16,347
94,106
360,924
Disposals
(250,471)
(12,332)
(8,996)
(271,799)
At 31 March 2025
-
0
4,015
85,110
89,125
Depreciation and impairment
At 1 April 2024
250,471
15,089
76,591
342,151
Depreciation charged in the year
-
0
1,258
11,551
12,809
Eliminated in respect of disposals
(250,471)
(12,332)
(8,996)
(271,799)
At 31 March 2025
-
0
4,015
79,146
83,161
Carrying amount
At 31 March 2025
-
0
-
0
5,964
5,964
At 31 March 2024
-
0
1,258
17,515
18,773
CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 15 -
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
12,168
355,824
Corporation tax recoverable
9,534
-
0
Amounts owed by group undertakings
74,791
-
0
Other debtors
1,571
44,072
Prepayments and accrued income
7,113
37,246
105,177
437,142
8
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
73
470,281
Taxation and social security
-
0
119,570
Other creditors
-
0
147,784
73
737,635
9
Members' liability

The company is limited by guarantee, not having a share and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

On wind up members have no right to the residual assets, assets are to be transferred to an entity with similar objects to the company or entities with charitable objects where members also have no right to residual assets on wind up

10
Related party transactions

All related party transactions were undertaken on normal commercial terms.

11
Parent company

On 1 April 2024 the parent company of Crop Health and Protection Limited became UK Agri-Tech Centre Limited by virtue of it being the sole corporate member, its registered office is Innovation Centre York Science Park, Heslington, York, United Kingdom, YO10 5DG.

12
Prior period restatement

The prior year has been restated to reallocate £168,463 out of cost of sales and into administration costs. This is to bring the accounting treatment inline with the entities of the merged group. There is no impact to the net result reported in the previous period.

CIELIVESTOCK LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 16 -
13
Discontinued operations

As per note 1.2, the core operations of CIELivestock Limited were transferred to UK Agri-Tech Centre Limited as part of a merger. This transfer included the business, operations, staff, and associated activities. As a result, the company ceased its core income-generating activities from that date.

The financial statements for the year ended 31 March 2025 reflect a run-off period, during which residual income was generated from remaining core grant, commercial and CR&D activities. All employee contracts were novated to UK Agri-Tech Centre Limited, and the company is not expected to trade going forward.

The company will become dormant, retaining significant reserves and holding minimal tangible assets. No further core income, which amounted to £88,471 in the current year (2024: £2,540,804), is anticipated in future periods.

2025-03-31 2024-04-01 false false false CCH Software CCH Accounts Production 2025.200 Mr T M Bennett Ms F C Fell Mr C J Henning Ms U Lavery Mr N C Major Prof Q A McKellar Mr J D Lea Mr P J Bicknell Dr P Quinn 09922986 2024-04-01 2025-03-31 09922986 bus:Director7 2024-04-01 2025-03-31 09922986 bus:Director9 2024-04-01 2025-03-31 09922986 bus:Director1 2024-04-01 2025-03-31 09922986 bus:Director2 2024-04-01 2025-03-31 09922986 bus:Director3 2024-04-01 2025-03-31 09922986 bus:Director4 2024-04-01 2025-03-31 09922986 bus:Director5 2024-04-01 2025-03-31 09922986 bus:Director6 2024-04-01 2025-03-31 09922986 bus:Director8 2024-04-01 2025-03-31 09922986 bus:RegisteredOffice 2024-04-01 2025-03-31 09922986 2025-03-31 09922986 2023-04-01 2024-03-31 09922986 2024-03-31 09922986 core:IntangibleAssetsOtherThanGoodwill 2025-03-31 09922986 core:IntangibleAssetsOtherThanGoodwill 2024-03-31 09922986 core:PlantMachinery 2025-03-31 09922986 core:FurnitureFittings 2025-03-31 09922986 core:ComputerEquipment 2025-03-31 09922986 core:PlantMachinery 2024-03-31 09922986 core:FurnitureFittings 2024-03-31 09922986 core:ComputerEquipment 2024-03-31 09922986 core:RetainedEarningsAccumulatedLosses 2025-03-31 09922986 core:RetainedEarningsAccumulatedLosses 2024-03-31 09922986 core:IntangibleAssetsOtherThanGoodwill 2024-04-01 2025-03-31 09922986 core:ComputerSoftware 2024-04-01 2025-03-31 09922986 core:PlantMachinery 2024-04-01 2025-03-31 09922986 core:FurnitureFittings 2024-04-01 2025-03-31 09922986 core:ComputerEquipment 2024-04-01 2025-03-31 09922986 core:IntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 09922986 core:IntangibleAssetsOtherThanGoodwill 2024-03-31 09922986 core:PlantMachinery 2024-03-31 09922986 core:FurnitureFittings 2024-03-31 09922986 core:ComputerEquipment 2024-03-31 09922986 2024-03-31 09922986 core:CurrentFinancialInstruments 2025-03-31 09922986 core:CurrentFinancialInstruments 2024-03-31 09922986 bus:CompanyLimitedByGuarantee 2024-04-01 2025-03-31 09922986 bus:FRS102 2024-04-01 2025-03-31 09922986 bus:Audited 2024-04-01 2025-03-31 09922986 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP