Company registration number N1020880 (Northern Ireland)
COOKSTOWN ENTERPRISE CENTRE LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

COOKSTOWN ENTERPRISE CENTRE LTD
COMPANY INFORMATION
Directors
Mr T Wilson
Mr S Best
Mr McGuckin
Mr P Cassidy
Mr M Foley
Mrs E Kearns
Miss G Evans
(Appointed 21 September 2022)
Company number
N1020880
Registered offlce
Derryloran Industrial Estate
Sandholes Road
Cookstown
Co Tyrone
BT80 9LU
Auditor
David Lyttle + Co Ltd
ststion House
46 Molesworth Street
Cookstown
Co Tyrone
BT80 8PA
Buslness address
Deryloran Industrial Estate
Sandho18s Road
Cookstown
Co Tyrone
BT80 9LU
Bankers
Ulster Bank
20 William Street
Cookstown
Co Tyrone
BT80 8ND

COOKSTOWN ENTERPRISE CENTRE LTD
CONTENTS
Page
Trustee's report
Independent auditor's report
Statement of financial activitl8S
Balance sheet
Notes to the flnancial statements
10-18
The following pages do not form part of the statutory financial statements:
Detailed trading and profit and loss accounts
19-20

COOKSTOWN ENTERPRISE CENTRE LTD
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
The Trustees, who are Directors for the purposes of company law, present their annual report and financial
statements for the year ended 31 August 2023.
Prlncipal activltles
The purpose of Cookstown Enterprise Centre Limited is to let industrial Units to both new and existing businesses,
together with the provision of conference facilities, secretarial services, project management, training, consultancy
and other services normally provided by Local Enterprise Agencies.
Cookstown Enterprise Centre Limited obtained charltable status on 18 Jun8 2003 and the charity reference number
with the Northem Ireland Charity Commission is Nl 100109.
Structure, governance and management
The or9anisation is a charitable company limited by guarantee. The company was established under
Memorandum of Association which established the objects and powers of the charitable company and is govemed
under its Articles of Association.
The appointment of directors is in accordance with th8 charity's Articles of Association, whereby at every Annual
General Meeting one-third of the directors shall retire from office (but are eligible for re-election)- The direclors to
retire by rotation shall be those who have been longest in office since their last appointment or reappointment. No
person other than a director retiring by rotation shall be appointed or reappointed a director at any general meeting
unless helshe is recommended by the directors or not less than fourteen nor more than thirty five clear days before
the date appointed for the meeting, notice executed by a member qualified to vote at the meeting has been given to
the charitable company of the Intention to propose that person for appointment or reappointment.
Flnanclal revlew
The results for the year are set out on page 8, which the Directors consider to be satisfactory.
The reserves of the Company ar8 held for the advancement of its charitable purpose, other than restricted reserves
which are held for a designated purpose.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as
follows:
MrT Wilson
Mr D Legge
Mr S Best
Mr M¢Guckin
Mr P Cassidy
Mr M Foley
Mrs E Kearns
Miss G Evans
(Resigned 19 October 20221
(Appointed 21 September 2022)

COOKSTOWN ENTERPRISE CENTRE LTD
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
Objectives and activities
The objects of the charity are specifically restricted to the following..
{1) The advancement of community development, in particular the promotion for the public benefit of urban and
rural regeneration in Cookstown and surrounding areas. being an area of social and economic
deprivation, by all or any of the following means-
(i) the creation of training and employment opportunities by the provision of workspace, buildings, andlor land for
use on favourable terms.,
(ill the provision of f1nancial assistsnce, technical assistsnce or business advice or consultancy in order to provide
training and employment opportunities for unemployed people in cases of financial or other charitable need through
help '. la} in setting up their own business, or {b) to existing businesses.
(iii) the relief of unemployment.,
{ivl the advancement of education, training or retraining.
(v) the provision of housing for those who are in conditions of need.
{2) Promoting such other charitable purposes as may from time to time be determined.
It aims to achieve these objectives by providing business start-up and developmenl assistance for businesses
selting up or developing in the Cookstown District Council area.

COOKSTOWN ENTERPRISE CENTRE LTD
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
Achievements and performance
During the period to August 2023, the business environment continued to present significant challenges to CEC and
its clients. Cookstown Enterprise Centre has again had a satisfactory financial performance during Ihe year.
Markedly increased costs of insurance, heat, light. and power as well as maintenance are being experienced
resulting in a decrease in the net profit margin.
Income from small business support training and mentoring initiatives have contributed approximately 100/0 of the
total income. Occupancy levels of all CEC owned properties has remained consistently above 95 % with rental
income and conference room hire revenues maklng up the remaining 90 /0 of income.
The strong financial performance has again made it possible for the charity to invest time and resources into the
delivery of free of charge services to the local community. Competitive rents and flexible tenancy agreements as
well as free advice, mentoring, and information form the core of the support package provided to micro and small
businesses as well as the community and voluntsry sector locally.
Following the interruption to business because of the pandemic, the usage of the conference and meeting facilities
in the Enterprise Centre has returned to a high level of activity with face-to-face meetings accepted as the best way
to share knowledge and information. As with all core services provided by CEC. these facilities are made available
to the business and the community sector either free of charge or at favourable hire rates.
During the year, ongoing investment in the overall property base has enhanced the quality of property on offer thus
making it an attractive choice to all sections of the local community. To further strengthen the property base, the
organisation has made an application under the 'Community Asset Transfer, process to purchase a former DSS,
government owned building in Cookstown. If successful, this facility will be refurbished to provide support services
to micro businesses as well as the community and voluntary sectors within the district.
Training support, which continues to be delivered on a 'no profit, basis, has been delivered with the 'Go for It, start-
up iniliative as well as tailor8d business development support programmes. These core initiatives are offered free of
charge to the beneficiaries with funding coming from Invest Nl, Mid Ulster District Council, and other external
sources.
The contract to deliver the Go for It Programme funded by Invest Nl In collaboration with the elev8n Councils across
Northern Ireland expires on 30 September 2023. The successor initiative supported by the UK Prosperity Fund is
intended to commence in October 2023.
During the last twelve months, EU funding for the development and delivery of bespoke support services to mlcro
and small businesses came to an end. Local entrepreneurs continue to avail of the free of charge CEC monthly
business advice and information clinics which are delivered by experienced advisors.
A particular highlight during the most recent trading period was the establishment of 'Flexi Space, which provides
hot desking and co-working facilities. Changes in working practices in the 'post pandemic, environment have
provided an opportunity to work from home. The purpose-built facility provides flexi desks and private offices for
rent on a daily, weekly, or monthly basis. Up to twenty users simultaneously can enjoy hyper fast internet, modern,
comfortable furniture, and surroundings as well as ¢omplimentsry tea and coffee, which are just some of the key
features of the new space. Flexi Space was formally opened for business in April 2023 with an event which was
attended by sixty guests representing the small business, community & voluntary sectors locally.
ISO 9001'.2015 quality accreditation was also successfully relained in June 2023 following an annual surveillance
audit. For the first time in three years, the audit was conducted face to face on site. The company also continues to
meet its charitable objects with all services provided at favourable rates and financial surpluses reinvested to
ensure essential support for micro business and social enterprises locally.
The demand for business property from micro enterprises locally has remained ¢onsistently strong and despite the
lack of suitable industrial zoned land or buildings locally, CEC continues to research opportunities to expand the
current property portfolio. The provision of business accommodation with favourable rents and flexible tenancy
arrangements continues to be a core objeGtive of the trustees.

COOKSTOWN ENTERPRISE CENTRE LTD
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
Financlal Revlew
The directors will conduct annual reviews of the appropriate level of Unrastricted Reserves. The purpose of this
Reserve is to provide stability for the charity to ensure that it is able to honour existing contractual obligations, to
upgrade existing capital equipment, to cover unforeseen events beyond the company's control and to enable it to
continue its operations in the event of a significant flu¢tuation in 8xpenditura or incom8.
The directors have taken a decision to estsblish a Designated Reserve at a level of four months of annual
expenditure. This is a reserve designed to meet unexpected financial commitments, and also to build a provision for
redundancy for all staff in the unlikely event that the company would cease to carry on its current activities. The
directors estimate the provision for four months of annual expenditure to be £100,000.
The present level of Reserves available to the charity is £2,087,420 and this is considered satisfactory.
Statement of dlr8Ctors' responslbllltles
The directors are responsible for preparing the annual report and the financial statements in accordance with
applicabla law and regulations,
Company law requires the directors to prepare financial statements for 8ach 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 lawl. Under Company law the directors
musl not approve the financial slatem8nts unless they are satisfied that they give a true and fair view of th8 State of
affairs of the company and of the surplus or deficit of the company for Ihat period. In preparing these financial
slatements, th8 directors are required to..
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent.,
prepare the financial statements on the going concem basis unless it is inappropriate to presum8 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 lime 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 tha prevention
and detection of fraud and other irregularities.

COOKSTOWN ENTERPRISE CENTRE LTD
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
Statement of dlsclosur8 to auditor
So far a5 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.
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 T Wilson
Director
15 November 2023

COOKSTOWN ENTERPRISE CENTRE LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF COOKSTOWN ENTERPRISE CENTRE LTD
Opinlon
We have audited the financial statements of Cookstown Enterprise Centre Ltd {the 'company') for the year ended
31 August 2023 set out on pages 6 to 18. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 August 2023 and of its surplus 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 Slandards on Auditing {UK) {ISAs (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of
the Iinancial statements section of our report. We are independent of the company in accordance with the ethical
requiremenls 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.
Concluslon8 relatlng to golng concern
We have nothing to report in respect of th8 following matters in relation to which the ISAS {UKI require us to report
to you where..
the dir8Ctors' us& of the going concem basis of accounting in the preparation of the financial statements is not
approprlate; or
the directors have not dlsclosed In the financial statements any identified material uncertainties that may cast
significant doubt about the company's ability to continue to adopt the going concern basis of accounling for
P8ri0d of at least twelve months from the date when the financial statements are authorised for issue.
Other Informatlon
The other information comprises the information included in the annual report other than the financial statements
and our auditor's report thereon. The directors are responsible for the other information contained within the annual
report. Our opinion on the financial statements does not cover the olher information and, except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our
responsibility is to Tead the other information and, in doing so, consider whether the olher information is materially
inconsistent with Ihe financial statements or our knowledge obtained in the course of Ihe 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, report for the financial year for which the financial statements are
prepared is consistent with the financial statements., and
the direGtors' report has been prepared in accordance with applicable legal requirements.

COOKSTOWN ENTERPRISE CENTRE LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF COOKSTOWN ENTERPRISE CENTRE LTD
Matters on which w8 are required to report by exceptlon
In the light of the knowledge and understanding of the company and its onvironment obtained in the course of the
audit, we have not identified material misstatements in the directors, report. 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 lake advantsge of the small companies, exemption in preparing the dire¢tors' report and from the
requirement to prepare a strategic report.
Responslbllities of directors
As explained more fully in the directors, responsibilities statement, the directors are responsible for the preparation
of the financial statements and for being satisfied that they give a true and falr 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 ststements, the directors are responslbl8 for
assessing the company's ability to continue as a going concern, discloslng, as applicable, matters related to going
concern and using the going concern basis of accounting unless the directors either intend to liquidate th8
company or to C8ase operations, or hav8 no realistic alt8rnative but to do so.
Audltorfs responslbllltles for the audlt ol the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the financial Statements as a whose are free from
mat8rial misstatement, whether due to fraud or error, and to issue an audltor's report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conduct8d in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misslatements 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.
A further description of our responsibilities is available on the Financial Reporting Council's website at: https'.11
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs 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
mbers as a
y, for our audit work, for this report, or for the opinions we have formed.
David Lyltle (Senior Statutory Auditor)
for and on behalf of Davld Lyttle + Co Ltd
Chartered Accountants
statutory Auditor
15 November 2023
Station Hous8
46 Molesworth Street
Cookstown
Co Tyrone
BT80 8PA

COOKSTOWN ENTERPRISE CENTRE LTD
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2023
Unrestrlcted
Funds
Total
2023
Total
2022
Notes
Incoming resources
Incoming resources from generated funds
26,817
26,817
370
In¢oming resources from charitable activities
334,228
334,228
327,305
COVID grants received
7,530
Total Incomlng resources
361,045
361,045
335,205
Resources expended
Charitable activities
269,132
269,132
259,030
Governance costs
54,013
54,013
54.606
Total resources expended
323,145
323,145
313,636
Net Incomlngl(outgoing) resources
37,900
37,900
21,569
Net movement In funds
Total funds brought forward 1 September 2022
2,049,520
2,049,520
2,027,951
Total funds carrled forward at 31 August 2023
2,087,420
2,087,420
2,049,520

COOKSTOWN ENTERPRISE CENTRE LTD
BALANCE SHEET
ASAT31 AUGUST2023
2023
2022
Notes
Flxed assets
Tangible assets
2,226,439
2,362,778
Current assets
Debtors
Cash at bank and in hand
18,531
823,278
23,595
761,787
841,809
785,382
Creditors: amounts falllng due wlthln
one year
10
(83,897)
(108,883)
Net current assets
757,912
676,499
Total assets less current Ilabllltles
2,984,351
3,039,277
Credltors: amounts falling due after
more than one year
11
(19,274)
(79,517)
Accruals and deferred income
12
(877,657)
(910,238)
Net assets
2,087,420
2,049,522
Income funds
Unrestricted reserves
D8signated reserves
1,987,420
100,000
1,949,522
100,000
Total charlty fund5
14
2,087,420
2,049,522
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 15 November 2023
and are signed on its behalf by:
Mr T Wilson
Dlrector
Company Registration No. N1020880

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
Accounting policies
Company Information
Cookstown Enterprise Centre Ltd 15 a private company limited by guarante8 incorporated in North8rn Ireland.
Thé registered office is Derryloran Industrial Estate, Sandholes Road, Cookstown. Co Tyrone, BT80 9LU.
1.1 Accountlng conventlon
The financial statements have been prepared in accordance with Accounting and Reporting by Charities-
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January
2015) - (Charities SORP {FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of
Ireland {FRS 102) and the Companies Act 2006.
Cookstown Enterprise Centre meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost and transaction value unless otherwise stated in the relevant
accountancy policy note(s>. The financial statements are prepared on a going concern basis.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary
amounts in these financial statements are rounded to the nearesl £.
The financial statements have been prepared under the historical cost convention, lrnodified to include the
revaluation of freehold properties and to include investment properties and certain financial instruments at fair
value]. The principal accoLtsnting policies adopted are set out below.
1.2 Fund accounting
Unrestricted funds are available for use at the discretion of the directors in furtherance of the general
objectives of the charity.
Restricted funds are subjected to restrictions on their expendlture imposed by the provider of the funds.
1.3 Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the
income and the amount can be quantified with reasonable accuracy. The following specific policies are
applied to particular categories of income..
-Investment income is included when receivable.
-Incoming resources from charitable activity represents amounts receivable for rent, training and services.
These incoming resources are accounted for when earned and accounted for net of VAT and trade discounts.
10

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
Accounting policies
(Continued)
1.4 Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. It is accounted for net of VAT and any
discounts given.
Charitable expenditure comprises those Costs incurred by the charity in the delivery of its activities and
services for its beneficiaries. It includes both costs that have been allocaled directly to such activities and
those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting th8 constitutional and statutory requirements
of the charity and include the audit fees and ¢osts linked to the strategic management of the charity.
Costs which are directly attributable to a charitabla activlty or to governance are allocated directly to that
activity. Items of expenditure which contribute directly to the output of more than one category are
apportioned on a reasonable, justifiable and consistent basis. Support costs which are shared b8lMeen
activities are apportioned on a reasonable, justifiable and consistent basis to tha activity cost categories being
supported.
The basis of apportionment of staff costs is by the estimated time spent by the individual members of staff on
different activity cost categories. Most other support costs are apportioned on the basis of the estimated floor
area of the building utilised by the different activity cost categories unless there are specific reasons to apply
different proportions of costs to different activity cost categories.
1.5 Tanglble flxed assets
Tangibl8 fixed assets are initlally measured at cost and subsequ8ntly measured at cost or valuation, net of
depreciation and any impaimient 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..
Leasehold land and buildings
Office furniture and fittings
2 % straight line
25ty/0 reducing balance
The gain or loss arising on the disposal of an asset is delermined as the difference between the sale
proceeds and the carrying value of the asset, and is Gredited or charged to surplus or deficit.
1.6 Impalrnient of flxed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible 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 Ihat reflects
current market assessments of the time value of money and the risks specific to the asset for which the
estimates of futur8 cash flows have not been adjusted.
If the recoverable amount of an asset lor cash-generating unit) is estimated to be less than its carying
amount, the carrying amount of the asset lor cash-generating unit) is reduced to its recoverable amount. An
impaiment 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.
11

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
Accounting policies
{Continued)
Recognised impairment losses are reversed if, and only if, the reasons for the impaiment loss have ceased
to apply. Where an impairment loss subsequently reverses, the carying 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 carying 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 Soss 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 Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call wlth
banks, other short-term liquid investments with original maturities of three months or less, and bank
ovardrafts. Bank overdrafts ar8 shown within borrowings in current Ilabilities.
1.8 Flnanclal Instruments
The company has elected to apply the provisions of Sectlon 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issu8s' of FRS 102 to all of Its financlal instruments.
Financlal instruments ar8 recognised In the company's balance sheet when tha company becomes party to
the contractual provisions of the instrument.
Financial assets and liabilities ar8 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 lo settle on
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 al 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.
Classificatlon of flnanclal liabilitles
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instnjment is any contract that evidences a residual interest in the
assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, includlng creditors, bank loans, loans from fellow group companies and preference
shares that ara classified as debt, are initially recognised at transaction price unless the arrangement
constitutes a financing transaction, where the debt instrum8nt is measured at the present value of the future
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are
not amortised.
Debt instruments are subsèquently 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
businèss from suppliers. Amounts payable are classified as currenl 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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in
profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are
attributable to the hedged risk.
12

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
Accounting policies
(Continued)
The company is exempt from corporation tsx, it being a company not carrying on a business for the purposes
of making a profit.
Having obtained charitable status with effect from 18 June 2003, the company is not liable to corporation tax.
1.9 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 Gost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
receiv8d.
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.
1.10 Retlrement beneflts
Payments to defined contribution retirement benefit schemes are ch8rg8d as an expense as they fall due.
Incomlng resources from generated funds
Unrastrlcted
funds
Total
2023
Total
2022
Distributlon from Cookstown Enterprise Propertles C.l.C.
Bank interest
19,870
6,947
19,870
6,947
370
26,817
26,817
370
Incoming resources from charitsble actlvities
Unrestrlcted
funds
Total
2023
Total
2022
Rental Income
Other property income
Business development income
267,768
41,025
25,435
267,768
41,025
25,435
279,264
18,461
29,580
334,228
334,228
327,305
13

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
Resources expended on charltable activlties
Unrestricted
funds
Total
2023
Total
2022
39,234
81,490
2,523
2,967
5,619
16,449
29,916
14,581
{856)
2,477
1,927
2,153
1,289
512
1,358
9,642
6,669
4,179
5,630
(30,300)
93,957
(22,284)
41,640
78,083
2,467
2,790
427
21,405
25,567
9,141
529
2,973
980
1,786
961
2,441
1,926
1.145
6,520
2,239
2,874
(30,300)
83,436
Direct costs
Wages and salaries
Social security costs
Staff pension costs defined contribution
Rates
Power, light and heat
Repairs and maintenance
Insurance
Motor and travel expensas
Subscriptions
Legal and professional fees
Consultancy and administration support
Bank charges
Bad and doubtful debts
Printing, postage and stationery
Advertising and publicity
InterneUICT expenses
Cleaning services
Sundry expenses
Capital grant amortisation
D8preciation
Profit or loss on sale of investment property
39,234
81,490
2,523
2,967
5,619
16,449
29,916
14,581
{856}
2,477
1,927
2,153
1,289
512
1,358
9,642
6,669
4,179
5,630
{30,300)
93,957
{22,284)
269,132
269,132
259,030
14-

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
Resources 8xpended on governance costs
Unrestricted
funds
Total
2023
Total
2022
Wages and salaries
Social security costs
Staff pension costs defined contribution
Stsff pension costs defined contribution
Rates
Power, light and heat
Repairs and maintenance
Insurance
Motor and travel expenses
Consultancy and administration support
Audit fees
Printing, postage and stationery
InterneUICT expenses
Cleaning services
Sundry expenses
Capital grant amortisation
Depreciation
Bank interest
30,703
3,151
1,272
30,703
3,151
1,272
29,459
3,078
1,196
423
1,238
2,252
2,027
(641
162
4,570
102
502
315
424
{2,281)
7,072
2,145
423
1,238
2,252
2,027
{64)
162
4,570
102
502
315
424
(2,281)
7,072
2,145
32
1,611
1,924
1,618
40
134
4,340
145
491
169
216
(2,281)
6,280
6,154
54,013
54,013
54,606
Operating surplus
2023
2022
Operating surplus for the year is stated after charglng:
Fees payable to the company's auditor for the audit of the company's financial
statements
4,340
4,570
Taxation
Having obtained charitable status with effect from 18 June 2013, the company is not liable to
corporation tax on its profits.
15-

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
Tanglble flxed assets
Land and Plant and
buildings machinery
etc
Total
Cost
At 1 September 2022
Additions
Disposals
3,167,309
631.431
25,541
3,798,740
25,541
(177,948)
{177,948)
At 31 August 2023
2,989,361
656,972 3,646,333
Depreclatlon and impalrm8nt
At 1 September 2022
Depreciation charged in the year
Impaimient losses
1,018,227
58,129
1117,097)
417,735 1,435,962
42,900
101,029
{117,097)
Al 31 August 2023
959,259
460,635 1,419,894
Carrylng amount
At 31 August 2023
2,030,102
196,337 2,226,439
Al 31 August 2022
2,149,082
213,696 2,362,778
Debtors
2023
2022
Amounts falllng due wlthln one year:
Trade debtors
Other debtors
8,780
9,753
12,552
11,043
18,533
23,595
10 Creditors: amounts falling due wlthin one year
2023
2022
Bank loans and overdrafts
Trade creditors
Taxation and social Security
Other creditors
10,648
10,242
11,019
51,988
10,648
19,077
79,158
83,897
108,883
16-

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
11 Creditors: amounts falling due after more than one year
2023
2022
Bank loans and overdrafts
Other creditors
19,274
29,042
50,475
19,274
79,517
12 Capital grant reserve
Government
grants
Balance at I September 2022
Amortisation in the year
910,238
{32,5811
Balance at 31 August 2019
877,657
13 Retlrement beneflt schemes
2023
2022
Deflned contrlbutlon schemes
Charge to profit or loss in respect of defined contribution schemes
4,239
3,986
14 Statement of movements on charity fund5
Unrestrlcted
surpluses
Balance at 1 September 2022
Profit for the year
2,049,520
37,900
Balance at 31 August 2023
2,087,420
Split as follows-
General reserves
Designated reserves
1,987.420
100,000
2,087,420
17

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
15 Members. liabillty
The company is limited by guarantee, not having a share capital 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.
16 Related party transactions
Mr S Best, director of Cookstown Enterprisa Centre Ltd. 15 also the owner of Stanley Best Eststa Ag8nts, a
business that provided18tting services to Cookstown Enterprise Centr8 Ltd during the year amounting to £450
{2022.'£480). There was £nil {2022'.£nil) owing to Stanley Best Estate Agents at 31 August 2023.
The above transactions were carried out under normal commercial terms.
18-

COOKSTOWN ENTERPRISE CENTRE LTD
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023

COOKSTOWN ENTERPRISE CENTRE LTD
PROPERTY AND TRAINING DIVISIONS- DETAILED TRADING AND PROFIT AND
LOSS ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2023
2023
2022
Turnover
Property division
Training division
COVID and other income
308.794
25,435
297,725
29,580
7,530
334,229
334,835
Cost of sales
Direct costs
39,234
41,640
(39,234)
{41,640}
293,197
Gross proflt
294,995
Admlnlstratlve expenses
(281,767)
1265,842)
13,228
27,353
Operatlng proflt
Exceptlonal Items
Profiulloss) on sale of tsngible assets
Other interest r8celvable and simllar income
Bank interest received
Distribution from Cookstown Enterprise Properties
c.i.c
6,947
370
19,870
26,817
370
Interest payable
Bank interest
(6,154)
(2,145)
21,569
Proflt before taxatlon
11.34'10
37,900
19-

COOKSTOWN ENTERPRISE CENTRE LTD
PROPERTY AND TRAINING DIVISIONS. SCHEDULE OF ADMINISTRATIVE
EXPENSES
FOR THE YEAR ENDED 31 AUGUST 2023
2023
2022
Administrative expenses
Wages and salaries
Social security costs
Staff pension costs defined contribution
Rates
Power, light and heat
Repairs and maintenance
Insurance
Motor and travel expenses
Subscriptions
Legal and professional fees
Consultancy and administration support
Audit fees
Bank charges
Bad and doubtful debts
Printing, postage and stationery
Advertising and publicity
InterneUICT expenses
Cleaning services
Sundry expenses
Capital grant amortisation
Depr8ciatlon
Profit or loss on sale of investment property
112,193
5,675
4,239
6,042
17,687
32,168
16,608
1920)
2,477
1,927
2,315
4,570
1,289
512
1,460
9,642
7,171
4,494
6,054
{32,581)
101,029
(22,284)
107,542
5,545
3.986
459
23,016
27,491
10,759
569
2,973
980
1,920
4,340
961
2,441
2,071
1,145
7,011
2,408
3,090
{32,581)
89,716
281,767
265,842
-20-