Dungannon-based Countryside Services Ltd, the wholly owned subsidiary of the Ulster Farmers’ Union (UFU), saw net assets grow 22% in value in the year to the end of December 2023.

The business, which mainly specialises in livestock tags, while also administering various schemes on behalf of DAERA, is classed as a ‘small company’ under government accounting rules, so does not have to file a profit and loss account.

As a result, it has not reported a profit figure for 2023, however, the business does look to be in a strong position, with net assets of £2.63m, up from £2.15m in the previous financial year.

Cash-at-bank and in-hand stood at £1.16m at the end of 2023.

Since the end of the financial year, there has been one significant change to the board of directors, with current UFU president William Irvine stepping down in July 2024.

That leaves a board comprising UFU CEO Wesley Aston, former UFU president David Brown, current Countryside Services managing director Conall Donnelly and former Glanbia head of procurement in NI, Cecil Morton.