NFU Scotland is entering 2023 on sound financial footing with publication of its financial accounts for 2022 reflecting the return to face-to-face engagement and parliamentary lobbying on par with pre-pandemic operating.
The accounts reveal a smaller operating surplus than in the previous year, increased administrative expenses and unrealised losses on investments much lower than might be expected in the experienced market but result in a recorded deficit.
The accounts show income flat at £3,210,684 from £3,218,671 in the preceding year 2021. With Covid-19 restrictions and social distancing ending, the accounts for 2022 show increased costs of £3,215,113 from £2,944,886 in 2021.
These figures resulted in an operating surplus of £28,881 compared with £335,814 in 2021. Unrealised fair value losses on investments of £194,067 were the primary cause of a recorded deficit of £193,265.
NFU Scotland President Martin Kennedy, commented, “NFU Scotland exists to lobby. We are here to bring pressure to bear on policy makers and commercial organisations to gain favourable outcomes for Scotland’s farmers and crofters in order to achieve a sustainable and profitable future for Scottish agriculture.
“In order to achieve this, we need to be underpinned by a robust financial base to give us the resources to be the advocates for the industry and to do all the activities that will make a difference.”
Also published today is NFU Scotland’s Annual Report. Writing in the report, Mr Kennedy said:
“As we started this year, we remained exposed to another Covid lockdown and had anticipated a year ahead of further uncertainty around Brexit, future policy, trade deals, climate change, and how much longer we would operate on an ‘online only’ basis for meetings and key events. Regretfully we had to cancel our plans to host our first in-person national event of the year, the Annual Conference and AGM planned for February 2022, but ran a hybrid event instead.
“Few could have envisaged the invasion and outbreak of war on Ukraine that was waged in February. The impact of this continues to unfold and influences much of our work. While domestic political changes have contributed to a destabilised financial market.
“It is extremely positive that we continue to be the largest representative body for farmers and crofters in Scotland and our membership, now almost 9100, continues to grow annually. It is because of our membership and dynamic team of staff that we can effectively lobby for our great industry and secure better outcomes on all the issues that matter. Head office staff have returned to work in the office however do so on an agile working basis. This approached provides the staff body with the flexibility to continue to work from home when not scheduled to be in the office or at meetings.
“Working across Government, Government agencies and within the supply chain, this year we have secured changes that benefit the industry and our members. Our ability to travel again has seen regular meetings with Ministers both in Westminster and Holyrood, and with key stakeholders. We will continue to keep talking about the issues and presenting solutions on what needs to be done to make things better. When farming and crofting do well, local economies prosper and society benefits. Every farm and croft, and every business that relies on a farmer or a crofter, benefits from the work we do.
“Our adopted hybrid approach to meetings provides our membership with access and opportunity to engage with NFU Scotland on as many occasions as possible, drawing excellent turnouts, generating lively discussion and invaluable input, that clearly highlighted the significance of concern and willingness to set a course ahead that is right and enduring for Scottish agriculture.
“We enter 2023, having recorded a sound financial performance in 2022 and with optimism about sustaining robust delivery for our membership.”
Notes to Editors
Copies of NFU Scotland’s annual report and annual accounts are available to read online at:
Ends
Contact Diana McGowan on 07920 018619