REPORT OF THE DIRECTORS AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S FOR BANANA ENTERPRISE NETWORK BANANA ENTERPRISE NETWORK CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Legal and Administratlve Inforniation Trustees Report Independont ExamIn•￿3 Report ststement of Flnanclal Activtties Balanco Shoot Notss to the Flnanclal Statemonts 8-11 BANANA ENTERPRISE NETWORK LEGAL & ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2025 CHARITY NAME: Banana Enterprise Network CHARITY REGISTRATION NO: 1161408. The Charity wa8 registered with the Ch8rity Commission on 24 April 2015 COMPANY REGISTRATION NO:. 09133991 (England and Wales) TRUSTEES & DIRECTORS: N Lee (Chair) K Morton S Addison (Deputy Chair) 8 Goulding S Kaneen P Richardson W Hampton {appointed 22 Aug 2024) P Dandelion (appointed 22 Aug 2024) S Mann (appoint8d 22 Aug 2024) N Tyldesley (resigned 16 July 2024) L Liptrot (appointed 22 Aug 2024, resigned 25 Nov 2024> S Ali , The CEO'S job encompasses the roles of Chief Executive, Bid Writer, Community Engagement Officer Communicalionslsocial mediallT offi￿r, Business Adviser, Project Manager. The Trustees wish to thank Jayne Allman for undertaking the many roles SU￿sSfUllY and appreciate the long and often unsocial hours she works to enable the charily meel its objectives. Christopher ASlman is adminlaccountslherrtage research officer and works many more hours than he is required to do by the charity. The Trustees also fully recognise the contribution made by our volunteers to fundraising and activities in the Park. Risk Assessment The Trustees have identrfied and reviewed the major risks to which the Chaiity is exposed. They have taken steps to control and reduce those risks. OBJECTIVES AND ACTNMES objectiv￿ and Alms and Public Benefft On 20 May 2022. followlng approval by the Chaiilles Commlsslon, Clause 4 01 the company's Artfcles of Associalion was changad by Special Resolution to read as folk)ws . 4. The objects of the chanly are: 4.1 The prevention or the relief of poverty by (but without prejudice to the generality of the foregoing) providing or assisting in the provision of education, training and other support designed to enable individuals to generate a sustainable income. 4.2 The relief of unemployment for the public benefft in such ways as may be thought fft including assistance to find employment. 4.3 The preservation, ￿storatIon, maintenance, repair and improvement of Rock Hall Famworth, a Grade I I listed building and to advance the education of the public in Ihe historical architeclural and constructional heritage that exists In and around the said building. 4.4 Such other exclusively charitable purpose8 as the trustees ol the charity shall determine from time to time. During the year the charity re￿iVed a g0Veman￿ review from a specialist adviser, A more modem Articles of Associats'on was adopted by Special Resolution on 4 September 2024 but the objecls of the charity were not changed. In January 2025 Bolton Council suddenty made a decision to exclude our charity from our Rock Hall project, whiGh we started in January 2020, and took over the projed for themselves. Lancashire Wildlife Trust were chosen as the new partner who incidentally, had not supported our project at all but are now benefrtting from our Work just like the Council. This will be covered later in this report. Our objectives have not changed as yet, because Ihe Council's action is now the 8ubJect of a legal dispute. We had a partnership agreement wrth the Council which expired on 31 March 2025 but we maintain that the Council broke that agreement. The Charity operates in deprived areas and communities in Bofton and Salford and has been delivering funded community aclivities and Heritage Building related projects after starting a project to save and acquire historic Rock Hall in January 2020. The Hall is situated in Moses Gate Country Park. Through this project we have been providing heallh and wellbeing related activities, edu￿tIOnal programmes and other outdoor community activities to help people and their families to reduce anxiety and be more physically active and reduce social isolation. The Hall is owned by Bolton Council bul we have been working towards acquiring it on behalf of the Communrty. The objecl for the charity was lo restore the hall to ils original size and create a mufti-purpose venue induding a café, function rooms, heritage room and the h811 would also becAyne a centre once again for activities in the Park. However, as mentioned previously, Bofton Council suddenly decided to take over our project in January 2025 and failed lo deliver the Communty Asset Transfer of the Hall to our Chaiity by January 2025 as expected. ACHIEVEMENTS AND PERFORMANCE 1. National Lottery Communlty Fund-Together In Farnworth I n March 2024 we successfully bid for funding to deliver a project which brought residenls together who mainly live in one of the UK'S top 10% most deprived areas (Famworth), to experience fun, creative and educational FREE activities that they would not normally be able to access. This helped to build new friendships, strong relationships and helped to reduce social isolation. We delivered a 12 month project providing an indoorloutdoor programme of wellbeinglfunlcreative themed activities for low income familieslsingle parentslolder people <50+) and younger people. Residents enjoyed narrowboat trips, theatre trips, artslcrafis, nature themed and storytelling sessions and food themed activities for example. We also created a WhalsApp based Social group which met together for quizzes. nights out etc. 2. Farnworth Fund In May 2024 we submitted a funding application for £455,000 to the Farnworth Fund (Managed by Bolton Council) for our Rock Hall project and were told by a council offThr that we had been successful but that the funds would be paid to Bolton Council. However, we didn't hear anything further about this funding and the Council exduded us from our Rock Hall project in January 2025. 3. Rock Hall Revival Project- Natlonal Lottery Herltagè Fund (NLHF) We began to deliver our Rock Hall Revival Development Phase project in Febwary 2024, working in partnership wilh Bolton Council. The National Lottery Heritage Fund h&J accepted our joint funding bid with Bolton Council submitted in 2023 and jointly awarded us funding of £466.662 towards the £763,962 needed to complete the Development stage of the project. Our Charity had also raised £295,000 towards the project from the COF fund. From February 2024 our charily was delivering the project as per the Project Programme. We delN8red numerous community activities. The capital related work {emerg￿cY repairs to the Hall and estsblishing room for some "meanwhile use") began in October 2024 and was completed by March 2025. Once that Development stage was cornpleted successfully, we were due to apply for Ihe remaining £3.2mill￿n from NLHF to complete the Delivery Phase of the project. However, in January 2025, after our Chaiity had started and worked on the project for 5 years, Bofton Council suddenly decided to exdude us from our project and are now working with Lancashire Wildlife Trust. This matter is the subiect of a dispule now between our Charity and the Council and we have a legal fim acting on our behalf. 4. othor funded projects beglnnlng after March 2024 The Charity was suc￿Ssful in bidding for f unding for equipment and &tivities ￿lating to our Rock Hall project in 2024. Due to the Council's action to exclude us from the project and the difficulties and bafriers we fa￿d (caused by the Council) during 2024, we have been unable to complete one of the funded projects in full at the moment. FUTURE PLANS The charity constantly seeks to identify gaps in provision of seprfices in order to meet community 'needs° and help prevent povety. We also seek fundinglGommercial opportunities to enable us the capacily to build and grow. Our Rock Hall project would have provided a massive opportunity for our Charity to grow, create jobs, provide much needed facilitieslactivities for the communily and generate income which we can use to support local people in need. However. due lo the Councils adions our chanty has lost this opportunity and the future commercial and funded income we would have re￿ived. We are therefore having to now explore other commercial income ideas. FINANCIAL REVIEW Reserves Policy and Golng Concern The Trustees policy is to maintain unrestricted reserves of at least 12 months basic running expen8e8. The policy is reviewed annually. At the year end the unrestricted reseNes We￿ to £30,613 which is approximately 8 months basic running expenses. However the Trustees have expectations thal over a peri¢xl of time the reserves can be raised to the 12 months level. RESPONSIBILITIES OF TRUSTEES The Charily trustees are responsible for preparing a trustees, annual report and financial statements in accordan￿ with applicable18w and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the chaiity trustees to prepare financial ststements for each year which give a true and fair of the slate of affairs of the charitable company and of the incoming resources and application of reSoUr￿s, induding the income and expenditure, of the charrtable company for that period. In preparing the financial statements, the trustees are required to: select suitable accounting policie8 and then apply them consistently. obseNe the methods and principles in the Charities SORP; make judgements and estimales that are reasonable and prudent; state whether applicable UK ac(y)unting standards have been followed, subject to any malerial departures disclosed and explained in the financial statements; prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proFer accounting records that disclose wrth reasonable accuracy at any time the financial posrtion of the charity and to enable them to ensure that the financial statements comply with Part 15 of the Companies Act 2006 relating to small companies. They are also responsible for safeguarding the assets of the Charity and hen￿ taking Teasonable steps for the prevention and detection of fraud and other irregularities. APPROVED ON BEHALF OF THE BOARD: INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BANANA ENTERPRISE NETWORK I report on the accounts of the charity for the year ended 31 March 2025 which are set out on pages 6 to 11. Respective responsibilities of Trustses and examiner The chanty's Trustees are responsible for the preparation of the financial statements. The charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Acl 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: .examine the accounts under section 145 of the 2011 Act follow the prO￿dureS laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and state whether particular matters have come to our attention. Basis of Independent examlnorf8 report My examination was carrfed out in accordance with the General Directions given by the Chaiity Comrnission. An ex8min8tion includes a review of the accounting records kept by the chanty and a comparison of the accounls presented with those records. It also includes consideration of any unusual items or disdosures in the accounts. and seeking explanation from you as Trustees conceming such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a Irue and fair VI￿ and the report 18 limited to th08e matters set out in the next statement. Independent oxamlnerf• 8tstem•nt Your attention is drawn to the fact that the charity has prepared financial statements in accordan￿ with Accounting and Reporting by Charities preparing their report in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understsnd that this has been done in order for the financial statements to provide a true and fair view in accordance with Generalty Accepted Ac(x)unting Prndice effective for rewling periods beginning on or afler 1 January 2015. In conneclion with my examination, no matter has come to my attention: (1) whth gives me reasonable cause to believe that in any material resped the requirements: to keep accounling records in a￿A)rdance with sethn 130 of the 2011 Ad: and to prepare financial statements which accord with the accounling records and CoM￿Y with the accounling requirements of the 2011 Act have not been met; or (2) to which in my opinion. attention should be drawn in order to enable a proper understanding of the inancial staternents lo be reathed. Mark Turner FCA Champion Accountants LLP The Instrtute of Chartered Accountants in England and Wales 1 Worsley Court High Street Worsley Manchester M28 3NJ Dated .' 22 December 2025 BANANA ENTERPRISE NETWORK STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 (Includlng the Income and Expenditure AGcount for the yoar) Year ended 31.3.25 31.3.25 31.3.25 31.3.24 31.3.24 Notes Unrestricted Restricted Total Unrestricted Restricted Funds Funds Funds Funds Funds Year ended 31.3.24 Total Funds INCOME FROM Donation5 Interest received 2,092 2,394 2,092 2,394 458 322 458 322 Charltable Artlvltles Other income Grants and contracts 3,569 3,569 569,444 1,822 1,162 1,822 106,740 107,902 569,444 TOTAL INCOME 8,055 569,444 577,499 3,764 106,740 110,504 EXPENDITURE ON Charitable activities 389 589,912 590,301 311 79,871 80,182 TOTAL EXPENDITURE 389 589,912 590.301 311 79,871 80,182 NET INCOME/(EXPENDITUREI FOR THE YEAR 7,666 (20,468> 112.8021 3.453 26.869 30,322 Total funds brought forward 11 22,947 34,869 57,816 19,494 27,494 TOTAL FUNDS CARRIED FORWARD 30,613 14,401 45,014 22,947 34.689 57,816 The statement of financial activities includes all gains and losses in the year. All income and expendilure derive from continuing activities The notes on pages 8 to11 form part of these financial statements. BANANA ENTERPRISE NETWORK BALANCE SHEET AT 31 MARCH 2025 31.3.25 Totsl Funds 31.3.24 Total Funds Notes Unrestricted Funds Restf icted Funds FIXED ASSETS Tangible fixed assets Investments 311 311 621 314 314 624 CURRENf ASSETS Debtors Cash at bank 26,449 94,480 120,929 26,449 125,178 151,627 19,740 46,076 65,816 30,698 30,698 CREDITORS Amounts falling due within one year NET CURRENT ASSETS 399 30,299 106,528 14,401 106,927 44.700 4,536 61,280 CREDITORS Amounts falling due after more than one year io 4,088 TOTAL NET ASSETS 30,613 14,401 45,014 57,816 ACCUMUiATED FUNDS Funds 11 30,613 14,401 45,014 57,816 TOTAL FUNDS 30,613 14,401 45,014 57,816 The company is entilled to exempt'ion from audil under Section 477 of the Companies Act 2006 for the year ended 31 March 2025, The members have not required the company to obtsin an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for: (a) ensuring that the company keeps accounting records which cc>mply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and lair view of the state of affairs of the company as at the end of each financial year and of rts surplus or de￿[t for each financial year in accordance with the requirements of Sections 394 and 395 and vthich othe￿ise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. These financial statements have been prepared in accordan￿ with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies. The financial statements were approved by the Board of Trustees on 22 D￿rnber 2025 and were signed on its behalf by., N Lee - Director The notes on pages 8 to 11 form part of these financial statements BANANA ENTERPRISE NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1. ACCOUNTING POLICIES Accounting convention The financial statements have been prepared under the historical cost convention and in accordan￿ with the Financial Reporting Standard (FRS 102), and on a Going Con￿rn basis. and wrth the Charities Act 2011. Group Accounts Consolidated accounts have not been prepared on account of the fact that the group qualthes as "small. under Ihe Companies Act. Fund Accounting Unreslricted funds can be used in accordance wrth Ihe objectives of the chanty at the discretion of the trustees. Restricted funds comprise funds received for specific project purposes. A Designated fund has been created for tangible fixed asset purchases. Income All income is included in the Statement of Financial Activities when Ihe charfty Is entitled lo the income and the amount can be quanlified with reasonable ac¢uracy. Expendlture Expenditure is accounted for on an 8ccruals basis and has been classified under headings Ihat aggregate all cost related to category. Where costs cannot be directly attributed to particular headings they have been all¢)cated to activities on a basis consistenl with the use of resources. Fix•d Asséts The company has purchased Offi￿ and computer equipment but does not capitalise individual items of equipment costing less than £1,600..This is a change in policy from £1,250 for the year to 31 March 2024 Depreciation 18 recognised so as to write off the cost of an asset over ils useful life as follows: Equipment 20Yo Straight line Taxation The charity is exempt from corporation lax by reason of its Charits￿e ststus. 2. NET INCOME The net income is stated after charging.. Year ended 31.3.25 Year ended 31.3.24 Wages and salaries Independent Examinerfs remuneration 60,270 44,017 3. TRUSTEES REMUNERATION AND EXPENSES Steve Mann, a Trustee and an authorrty on paper making, was paid £200 for a heiilage paper demonstration. There was no remuneration or expenses paid to Trustees apart from this. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025-Gontinued 4. GRANTS & CONTRACTS RECEIVABLE Year ended 31.3.25 Total Funds Year ended 31.3.24 Total Funds Unrestricted Funds Restricted FUr￿S Cornmunty Ownership fund Bolton Council Bolton Community & Voluntary Services National Lottery Community Fund English Sports Council Coalfields Regeneration Trust Pilgrim Trust Malcolm Hewitt Associates iscellaneous contracts 229.135 338,369 229,135 338.369 17,895 19,649 22,635 19,999 10,620 5,000 5,000 4,167 1,940 1,940 569,444 569,444 106,740 The amount received from Bolton Council includes their daim of £335,849 {2024 £9,649) from the National Lottery Heritage Fund for the Rock Hall project. 5. EXPENDITURE Year ended 31.3.25 Totsl Funds Year ended 31.3.24 Total Funds Unrestricted Funds Restrided Funds Charitsble Activities Wages and salaries & Nl Repairs to building Professional fees Activity providers Activity equipment and malerials Event costumes and refreshments Heritage items Computer expenses Repairs and renewals Telephone Sundry expenses Travelling Post & $￿￿l0nery I ndependent Examiner Insurance Loan interest Bank charges Equipment depreciation 61,068 208,582 260,125 30,156 14.275 1,255 3.673 3.844 712 1.324 1,183 2,016 119 900 588 92 61,068 208,582 260,125 30,156 14.275 1,255 3,673 3.844 712 1.324 1,183 2,016 119 900 588 92 79 310 590,301 44,017 2,450 11.930 9.221 879 3,631 3,991 704 216 811 996 187 270 266 197 105 311 80,182 79 310 389 589.912 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025- contlnued 6. TANGIBLE FIXED ASSETS Equipment Total Cost At 1 April 2024 At 31 March 2025 1,554 1,554 1,554 1,554 D•pr•clatlon At 1 April 2024 Charged in the year At 31 March 2025 933 311 1,244 933 311 1,244 Net Book Value At 31 March 2025 311 621 7. INVESTMENTS 31.3.25 31.3.24 Subsidiary company The charity has a wholly owned subsidiary company, Banana Enterprise Ltd.. The aggregate of capital and reserves for Banana Enterprise Ltd. al 31 March 2025 was £3. 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Trade Debtors HMRC Prepayments 14,959 4,291 490 19,740 26,263 186 26,449 9, CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Bank loan Community Owneiship Fund Bolton Council Bolton CVS Trade Creditors Other c￿ditor Accruals 2,453 30,365 10.424 11,850 53,139 399 750 106,927 1,050 283 750 4,536 io NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025- conllnued 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.25 31.3.24 Bank loan 4,088 11. MOVEMENT IN FUNDS At 1.4.24 Incoming Outgoing Transfers At 31.3.25 Restrlcted funds Restricted income: Communily Ownership fund Bolton Council Bolton CVS 14,871 National Lottery Communlty Fund 19,999 Coalfields Regengralion Trust 229,135 338,369 229.135 338,369 14,871 5,597 1,940 14,402 1,940 34,870 569,444 (589,912) 14,402 D•8lgnated fund Fixed Asset Fund 621 (310) 311 Unrestrictsd funds General Fund 22,325 8,055 (389) 310 30,301 57,816 577,489 {590.301) 45,014 Restrlcted funds The purpose of the charty's heritsge projects 18 to increase people's wellbeing and employment opportunrties in the deprtved area of Farnworth in Bolton borough. The purpose of the charity's training projects is to provide training, infornation and support to unemployed persons from deprived areas to help them access selfomployment. These projects served clienls in Salford, Botton 8nd Hattersley. 12. LIMITED BY GUARANTEE The company is limited by guararrtee and consequently does not have a share capital.