Company reglstratlon number N1020880 (Northèrn Ireland)
COOKSTOWN ENTERPRISE CENTRE LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

COOKSTOWN ENTERPRISE CENTRE LTD
COMPANY INFORMATION
Dlre¢tor8
MrTWlson
Mr S Best
Mr McGuokin
Mr P Cassidy
Mrs E Kearns
Miss G Evans
Company numb•r
N1020880
R•gl•terod offl¢o
Derryloran Industrial Estat8
Sandhol8s Road
Cookstown
Co Tyrona
BT80 9LU
Audltor
David Lyttle + Co Ltd
Station Hous8
46 Molesworth Street
Cookslown
Co Tyron8
BT80 8PA
Bu8lno88 addre•s
Derryloran Industrial E8tatg
Sandholes Road
Cookstown
Co Tyrone
BT80 9LU
8ankor8
Ulster 8ank
20 Wlliam Street
Cookslown
Co Tyrone
BT80 8ND

COOKSTOWN ENTERPRISE CENTRE LTD
CONTENTS
Page
Trustee's report
Directors, responsibilities statement
Independent auditorfs report
Statement of flnanclal actlvllies
Balance 3h88t
10
Notes to the financial statements
The followlng pages do not form part of the stslulory financial stalemenls..
Detailed trading and profit and loss accounts
20-21

COOKSTOWN ENTERPRISE CENTRE LTD
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees, who are Directors for tho purposes of company law, present their annual report and financial
statements for the year ended 31 August 2024.
Prlnclpal actlvltlos
The purpose of Cookstown Enterprise Centre Limited is lo let industrial units to both new and existing businesses,
together with the provision of conferencé facili118s, se¢retari21 services, project management, traSning. consultancy
and other services normally provided by Local Enterprise Agencies.
Cookstown Entèrprise Centre Limited obtained charitable Status on 18 Junè 2003 and the charity reference number
with the North8m Ireland Charity Commission is Nl 100109.
Structure, govgmanc8 and managgment
The organisalion 15 a charitable company limited by guarant88. Th8 company was established under
Memorandum of A$8ocialion which established the objects and powers of the charitable company 8nd is governed
under its Articles ofAssociation.
Th8 appointment of directors is in accordance with thè charity's Articles of Association, whereby al every Annual
G8n8ral Meeting on8-Ihird of th8 dlrectors shall retire from office Ibul are eligible for re-eleclionl. The dlr8ctors to
retir8 by rotation shall bo 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 gen8ral meeting
unless helshe is recommended by the directors or not less than fourt&en nor more than thirty five clear days before
the datg appointed for the meeting, notice 8x&cuted by a member qualified to Vole al the meeting has been glven lo
the charitable company of the intention lo propose that person for appointment or reappoinlmenl.
Flnanclal revlow
The results for th8 year are Set out on pag8 8, which the Directors consider lo be satista¢tory.
The reserves of thé Company a￿ held for the advancement of its charitsblé purpose, other than restricted reserves
whlch are held for a deslgnated purpose.
Dlrectorn
The directors who held office during the year and up to the date of signature of the financial statements were as
follows..
Mr Twilson
Mr S Best
Mr McGuckin
Mr P Cassidy
Mr M Foley
Mrs E Keams
Miss G Evans
(Resigned 17 January 20241

COOKSTOWN ENTERPRISE CENTRE LTD
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Obloctlve8 and actlvltle8
The objects of the charity are Specificalty reslri¢ted to the following.,
111 The advancement of community development, in particular the promotion for the publlc benefit of UTban and
rural regeneratson in Cookstown and surrounding areas, being an area of social and economic
deprivation, by all or any ol the following means.,
{1} the creation of training and employment opportunities by the provision of workspace, buildings, andlor land for
use on favourable terms.,
(ill the provision of financial assistsncè, technical assistance or business advice or Consultancy in order to provlde
training and employment opportunitie5 for unemployed people in cases of finandal or other charllable need through
help '. {al in setting up their own business, or Ibl to existing businesses.,
{iiil the relief of unemployment,
{iv) the advancement of Bducation, training or retraining.,
Iv) the provision of housing for those who are in condilions of need.
(21 Promoting such other ch8ritabl8 purposes as may from tlme to time be d8temSn8d.
It alms to achleve thés& objectives by providlng business start-up and developmént a$$istanc& for businosses
setting up or developing in the Cookstown District Council area.

COOKSTOWN ENTERPRISE CENTRE LTD
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Achl•vements and perfomianco
During the period lo August 2024, the buslness envlronment continued lo present significant challenges to CEC and
its clients. An employment related HR grievance proved lo be extremely difficult, time consuming and ffsulted in
unplanned legal f$os.
Because of this matter, the operation of the business suffered considerable disruption, and the business Was forced
to operate without a staff membar for the entire trading year in a busy, labour-intensive part of the Company's
operation.
Cookstown Enterprise Centre howev8r has again had a s8tisfaclory financial performance during this year.
Significant incrfrased costs for insurance, heat, light, and power 88 well as maintonance hav8 been exp8rienc8d
resulting in a decrease n the nel profit margin.
Income from Go for 11 and Go Succeed business support tralning and mentorlng initiatives agaln ￿ntribUted
approximately 100A of the lotsl r8venue income. Occupan¢y levels of all CEC owned properties has remained
consistently above 950h with rental income and conferance room hire revenues making up the remalning 900h of
the annual income.
The strong financial performance has again made il possible the charity to invest time and r&sources into the
delivery of free Of charge sèrvices lo the locAI business and community and voluntary sèctor. Competitive rénts and
flexible tenancy agreements as well as free advice, and information form the core of the support package provldad
by the enlgrprise c8ntr8.
The usage of the conferènce and meeting facilities operated al an extrem8ly elevated level of activity. The gross
revenue generated from this service to tho business community locally was th8 highest since the business began
trading over thity years ago. As with 811 core services provided by CEC, these fa¢iliti&s are provided to users in
some instances, tree of charge or at v8ry favourable rates.
During the year, ongoing invèstment In Ihg overall property base has enhanced the quality of propèty on off8r thus
making it an attractive choice lo all section$ of the local community. A major capital expenditur8 project to improve
the entire roof area was approved by the Iruslees and work commenced in August 2024.
To fvrther increase the propety bas8, in April 2024, the organisation has completed the purchase of the fomer
DSS Jobs & Benefits Office in Cookstown. This government owned building was acquired under the Community
Asset Transf8r' pr0¢858. Architèctural plan3 are al an advanced stage for the repurposing of this facility to provide
office accommodatSon and support services lo the micro business as well as the community and voluntary sectors
within th8 district. It is anticipated that this £1m ¢onstru¢lion project will be completed in mid-2025.
Training support. which contlnues lo be delivered on a 'no profit, basis, through the prtrslart Explore Enterprise
programme as well as the 'Go for It. 8nd Go Succeed Start-up initiatives.
These core inilialives are offered fr8e of charge to thè local beneficiaries with funding being provid6d by the Uk
Goveinment through Invést Nl and the eleven District Councils throughout Northem Ireland.
During the last hvelve months local entrepreneurs continue to avail of the free of Charge CEC monthly business
advice and information clinics which are delivered by experienced advisors.
The establighment of 'Flexi Space, which provides hot desking and co-working facilities and private offices for rent
on a daily, weekly, or monthly basis. Users from the business and community and voluntary sectors ar8 provided
with Hyper fast internet, modern, Comfortable fijrnilure, and surroundings a$ well as complimentary tea and Coffee.
ISO 9001.'2015 quality accreditation was also SUC￿$sfUllY retained in June 2024 following an annual surveillance
audit conducted on site by NQA independent assessors. The ¢ompany also continues lo 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 consistently high and the latest
propety acquisition facililales CEC in its core objective lo provide quality business ac¢ommodation with favourable
rents and flexible tenancy arrangements.

COOKSTOWN ENTERPRISE CENTRE LTD
TRUSTEES, REPORT ICONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Flnanclal Rgvlew
The diiectors will conduct annual reviews of the appropriate level of Unrestricted Reserves. The purpose of this
Reserve is to provide stsbility for the charity to 8nsure 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 fluctuation in 8xpenditure or income.
The directors have taken a decision to estsblish a Designated R8serve al a level ol 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 cary on its current activilies. The
directors estimate the provision for four months of annual expenditure to be £100,000.
The present l&vel of Reserves available to the charity is £2,107,230 and this is ￿nSIdered salisfa¢tory.

COOKSTOWN ENTERPRISE CENTRE LTD
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Statgment of d18clo8ure to audltor
So far as each person who was a director at th& dale of approving this report is aware, there Is no relevant audit
information of which tho company's auditor is unaware. Additionally, the directors indimdually have taken all the
necessary steps that they ought to hav8 taken as directors in order to make themselves aware of all relevant audit
information and lo establish that the company's auditor is aware of that information.
This r6POrt has been prepared in accordance with the provisions applicable to companies entitled to th& small
companies examption.
On behalf of the board
Mr T Wilson
Dlrector
19 March 2025

COOKSTOWN ENTERPRISE CENTRE LTD
DIRECTORS, RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024
The directors are responsible for preparing the annual report and the financial statements in accordance with
applicable law and regulations.
Company law ￿qUireS the directors to prepare financial statement5 for each financial year. Under that law the
directors hav8 81ect8d to prepare the financial statemenls in accordance with United Kingdom Generally Accepted
Accounting Practice {United Kingdom Accounting Standards and applicable lawl. Under company law the directors
must not approve the financial 5tatem8nts unless they ar8 Satisfied that they give a tru6 and fair view of the stat8 of
affairs of the company and of the surplus or deficil of the company for that period. In preparing these financial
statements, the directors are required to..
select suitsble accounting polici8s and then apply them consistently.,
make judgements and accounting estimates that are reasonable and prudent.,
prepare the financial statements on the going concern basis unless il is inappropriaté to prgsume 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 thom 1¢ ensu￿ Ihat the financial stslemenls ¢omply with the Companies A￿ 2006. They are also
responsible for $8feguardlng th8 assets of the company and henc• for taking reasonable steps for the prevontlon
and dele¢tion of fraud and other irregularities.

COOKSTOWN ENTERPRISE CENTRE LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF COOKSTOWN ENTERPRISE CENTRE LTD
Oplnlon
We havo audited the )Inan¢ial statements of Cookstown Ent8rprise C8ntre Ltd (the 'companll for the year 8nded
31 August 2024 set out on pages 6 to 19. The financial reporting framework that has been applied in their
preparalian is applicable law and United Kingdom Accounting Standards, including FRS 102 Th& Financial
Reporting S18ndard appliGable in the UK and Republi¢ of Ireland {United Kingdom Generally Accepted Accounling
Practic&l.
In our opinion tha financial statements..
give a true and fair vièw of tha slate of th8 company's affairs a8 8t 31 August 2024 and of its Surplus for the
year then ended.,
have b8en prop8rly prepared in accordance With United Kingdom Gènerally Accepted Aecountsng Practice,. and
have been prepared in accordance with the ffjquirement5 of the Companies Act 2006.
Bi818 for oplnlon
W8 condu¢t&d our audit in accordance with Intemational Standards on Auditing (UK) IISAS IUKII and applicable
law. Our responsibilities under those stsndards are further described in the Auditorfs responsibiliti8s for the audit ol
the financial statements sects'on of our rèport. W8 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 havo fulfilled our other @thical responsibiliti&$ in accordanc8 with these requirements. We beliova
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to golng eoncern
W8 have nothing to rèport in respect of thè following matters in relation to which the ISAS IUKI requir8 us lo report
to you where..
the dir8Ctors' use of th8 going concern basis of 8¢¢ounting in thè preparation of tha financial $18tem8nts is not
appropriate,, or
the directors have not disclosed in the financial stalamenls any identified material uncertainties that may cast
significant doubt about the company's ability to continue lo adopt the going concern basis of accounting for
p&riod of al least ￿e1ve months trom tho date when the financial slalemenls ar8 authorised for issue.
Other Infomatlon
The other informatSon compris85 the information included in the annual report other than th8 financial statements
and our auditor's report thereon. The directors arè responsible for the Other information contained within thè annual
report. Our opinion on th8 financial statements does not cover the oth8r information and, except lo the extént
otherwise explicitly staled in our report, W8 do not express any form of assurance conclusion thereon. Our
responsibility is lo read the other infomalion and, in doing so, consid8r whether the other information is materially
inctsnsistent with tho financial statements or our knowledg8 obtained in the cours8 of the audit, or othèrwise
appears lo be materially mi$slated. If we identify such material inconsistencies or apparent material misslalemenls,
we are required lo d&temiin8 whather this giv85 rise lo a material misstatement in the financial statements
themselves. If, based on the work we have performed, we conclude that there is a material mi551atement of this
other infomation. we ar8 required to roport that fact.
We have nothlng to report in this rogard.
Oplnlon8 on other matters pre8crlbed by the Compan1￿ Act 2006
In our opinion, based on the work undertaken in the course ol 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 slatemenls,. and
the directors, 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
Mattern on whlch w• are requlred to report by oxceptlon
In the light of the knowledge and understanding of the company and it5 environment 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 requlres us to report to you if. in our opinion..
adèquate accounting records havè not been kept, or returns adequate for our audit have not been received
from bran¢hes not visited by us.. or
the financial statements are not in agreement with the accounting records and relums., or
certain disclosures of directors, ￿ muneralion specified by law ar@ not made., or
we have not received all the infomialion and explanations we require for our audit., or
the directors were not entitled to prepare the financial statement5 in accordance with the small companies
regime and take advantagg of the small companies. exemption in prepafing th& directors, report and from the
requirement to preparè a strategic report.
RoJpon•lbllltle• of dlrectorn
As explained mor8 fully in tho directors, responsibilities statement, the dlrectors are responsible for th8 preparation
of the financial statements and for bein9 satisfied that they giv8 a true and fair view, and for 3uch internal control as
the directors delermino Is necessary lo enable the preparation of financial statements thal are free from material
misslalemenl, whether due lo fraud or error. In preparing the financial slatem8nts, the directors are responsible for
assesslng the company's ability lo continue as a going concern. disclosing. as applicable, matters related to going
concern and usin9 the going concern basis of accounting unless the directors 8lther intend to liquidate the
company or to cease operations, or have no reali$li¢ alternative bul to do so.
Audltorfs rn•pon•lbllltlos for the audlt of the fln•nclal statements
Our objo¢tives are to obtain reasonable assurance about whether the financial statements a$ a whole are froe from
material misstatement. whethgr duo to fraud or error, and to issue an audilorfg report that includes our opinlon.
Reasonable a$guran¢e is a highlgvel of agsurance but is not a guarantee that an audit conducted in accord8n¢e
with ISAS IUKI will always detecl a mat8rlal mi5Stalemenl when it exists. Mi5s1atements can aris8 from fraud or
error and ar8 considered material if. individually or in the aggregate, they ¢ould reasonably be expected to
influence the economic d8clsions of users takèn on the basis of these financial statements.
A further descTlPtion of our responsibillties is avallable on the Financial Reporting Council's website al, https'.11
ww.frc.org.ukJauditorsre8ponsibililies. This descTlPtion forms part of our auditorfs T8POrt.
This report Is made solely lo the company's member5. as a body, in accordance with Chapter 3 of Part 16 of thè
Companies Act 2006. Our audit work has been undertaken so that we might state lo tho company's members those
matters we are required to Stale lo them in an audilorfs report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the ¢ompany and the Company's
members as a body, for our audit work, for thi$ report, or lor the opinions we have formed.
19 March 2025
Erlca Conv•ry (Senlor St
for and on behalf of Oav
Chartered Accountants
Statutory Auditor
tory Au
or)
Lyttle + Co Ltd
station Hous8
46 Molesworth Street
Cook51own
Co Tyrone
BT80 8PA

COOKSTOWN ENTERPRISE CENTRE LTD
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2024
Unro8trlcted
Funds
Total
2024
Total
2023
Notes
Incomlng resour¢o5
Incoming resources from generated funds
10,120
10.120
26,817
Incoming resourc8$ from charitable activities
345,012
345,012
334.228
COVID grants received
Total Incomlng rosource8
355,132
355,132
361,045
Resources oxpgndod
Charitabl& activities
281,788
281,788
269,132
Governanc8 costs
53,534
53.534
54,013
Total ro•ource8 expended
335,322
335,322
323.145
N•t Incomlnglloutgolngl rn$oure•s
19,810
19,810
37,900
Net movement In fund$
Total fvnds broLtghl forward 1 Seplembor 2023
2.087,420
2,087.420
2,049,520
Total fund8 carrlèd forward at 31 Augu8t 2024
2,107,230
2,107,230
2,087.420

COOKSTOWN ENTERPRISE CENTRE LTD
BALANCE SHEET
ASAT31AUGUST2024
2024
2023
Note•
Flxgd assets
Tangible assets
2.571,198
2,226,439
Current assets
Debtors
Cash at bank and In hand
31,460
461,568
18,531
823,278
493,028
841.809
Crodltor•: amounts fllllng du• wlthln
one yoar
10
1102,6811
183,8971
Net curront a8¥0ts
390,347
757,912
Total 4180ts108• current IlabSlltlgs
2.961,545
2.984,351
Cr•dltor•'. amounts falllng duo aft•r
more than one yoar
11
19,2391
119.274)
Accrual• and d•f•rr•d In¢om•
1845,0761
1877,657}
Ngt ag80ts
2,107.230
2,087,420
Income fund8
Unreslri¢ted reserves
Designated reservès
2,007,230
100,000
1,987,420
100.000
Total charlty funds
2.107,230
2,087,420
These financial statements have b•on prepared in ac¢ord8nce with th8 provisions applicable to companies subject
to the small companies regime.
The financial ststements were approved by the board of directors and authorised for issue on 19 March 2025 and
are signed on its behalf by..
Mr T Wilson
Olrector
Company Rgglstratlon No, N1020880
10-

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
A¢eountlng pollcle$
Company Informatlon
Cookslown Enterprise Centre Ltd 19 a private company limited by guarantee in￿rpOrated in Northern Ireland.
The registered office is Derryloran Industrial Estate. Sandholes Road, Cookstown, Co Tyrone, 8T80 gLU.
1.1 A¢countlng conv8ntlon
The financial slat8ments have been prepared in accordanc8 with Accounting and Reporting by Charities..
Statement of Recommend8d Practice appli¢able to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 effeotive 1 January
20151- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of
I￿land IFRS 1021 and the Companies Act 2006.
Cookslown Enterprise Centre meets th8 definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised al historical cost and transaction value unlèss otherwise slatad in the r818vant
accountancy policy notels). The financial statements are prepared on a going con¢em basis.
The fin8naal statements arg prepa18d in sterlSng, which is the lunctSonal currency of the company. Monetary
amounts In these financial slatem8nls are rounded to the nearest £.
The financial statemènts have bèen preparèd under th8 historical cost conv&ntion, Imodified lo Include the
rovalualion of freehold properties and to include investment propèrties and certain financial instruments al fair
valuel. The principal accounting polici05 adopted are set out below.
1.2 Fund accountlng
Unre81ricted funds are available for use al the discretion of the dlwctors in lurtharanee of th& general
objectives of the charity.
Restricted fund8 are subjeoled lo r8slriclions on their expenditure imposod by the provider of the fund8.
1.2 Incomlng r88ouree8
All incoming resources arè included in the statement of financial activities when tho charity 1$ entitled to the
Income and the amount Can be quantified with reasonable acouracy. The following specific policies are
appli8d to particular categories of income..
-Inv8strnenl income 18 includéd when receivable.
-Incoming resources from chAritable activity repr&$enls amounts receivab18 for rent, training and sèrvices.
These incoming resources are accounted for when earned and accounted for net of VAT and trade discounts.
11

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
A¢¢ountlng poll¢lo9
(Contlnuedl
1.4 Resour¢o$ expended
Expenditure is recognised on an accrual ba515 as a li8bilily is incurred. It is accounted for nel of VAT and any
dis¢ount8 given.
Charitable expenditure comprises those costs incurred by the charity in the delivery of it5 activities and
services for its beneficiaries. It includes both costs that have been allocatod directly to such activities and
those costs of an indirect nature necessary to support them.
Governanc& costs include those Costs associated with meeting the constitutional and stalutory requirements
of the charity and include the audit fees and costs linked to the stra189ic management of the ¢harity.
Costs which are directly attributable to a charitable activity or to governance are allocated directly lo that
activity. Items of expenditure which contribute directly to the oulpul of more than ono category ara
apportioned on a reasonable, justifiab18 and consistent basis, Support costs which are shared be￿een
activities ar8 apportioned on a reasonablg, jUStifiable and consistent basis to tho activity cost cat8gories being
supported.
The basis of apportionment of stsff costs 15 by the estimated time spent by the individual members of staff on
different activity Cost categorl•s. Most other support costs are apportioned on the basi5 of the estimated floor
area of the building ulilised by the different activity cost catègories unless there are speGific reasons lo apply
differont proportions of costs to different activity cost categories.
1.8 Tanglblg flxed a859ts
Tangible fixed assets are Initl8lly mèasured at cost and subsequently measured at cost or valuatlon, nel of
depreciation and any impaim$nl losses.
Depreclalion is recognised so as to write off the cost or valuation of 8SSets less Iheii r8sldual valuès over their
useful lives on the following bases..
Leasehold land and buildings
Offlce furniture and fittings
20/0 Stralghl line
250/0 reducing balance
The gain or Ios5 arising on the disposal of an asset is determined as the difference befvleen the sale
proceed5 and the carrying value of the a8$el, and is credited or charged to surplus or deficit.
1.6 Impilmiont of flxod aJsetJ
Al each reporting perlod end date, the company reviews the carylng amounts of ils tanglble 85sets to
delermine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exis1$, the recoverable amount of the asset is estimated in order lo determine the extent of the
impaiment loss (if any}. Where il 15 not possible to estimate the recoverable amount of an individual asgel,
the company estimates the recoverable amount of the ca$h4enerating unit to whlch 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 eslimaled future cash flows are discounted to their present value using a pre-tax discount rate that reflects
current market as5essment5 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 recoverabl8 amount of an as5el lor cash-goneraling unit) 15 estimated to be less than its carrying
amount, the carrying amount of the asset {or Cash-generating unit) 1$ 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 Ioss 15 treated as a revaluation decrease.
12-

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Ac¢ountlng pollcles
(Contlnued)
Recogni$6d impalrment losses are reversed if, and only if, the reasons for the impalrrnent Ios5 have ceased
to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset lor cash-
generating unill is increased to the revised estimate of its recoverable amount, but so that the inereaged
Carrying amount does not exceed the carrying amount that would have been detemined had no impairment
los$ been recognised for the asset lor cash-generaling unit) in prior years. A reversal of an impairment loss Is
recognised immediately in surplus or deficit, unless the relevant asset 1$ carried at a revalued amount, in
which c8$8 the reversal of tha impairment loss is Irealed as a revaluation Increase.
1.7 Ca¥h at bank and In hand
Cash and cash equivalents ar8 basic financial assets and includ8 cash in hand, d8po$its h8ld at call with
banks, other short-term liquid investments with origlnal maturities of three months or lèss, and bank
overdrafts. Bank overdraft8 are shown within borrowings in current liabilities.
1.8 Flnanclal In$trum6nts
The company has elècted to apply the provislons of Sectlon 11 'Basic Financial Instruments, and Section 12
'Olher Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance she8t when the Company becomes paty to
the conlraclual provlsions of the inslrumant.
Financial 8ss8ts and liabillll&s are offs8t, with the net amounts presènted In the financial statemanls, when
there is 816gally enforceable right lo $el off the recognised amounts and there is an intention to Settle on
net basis or to realise the asset and Settl• the liablllly simultaneously.
Ba$lc flnan¢lal assets
Basic financial assets, which include d8blors and cash and bank balances. are initially measured et
transaction price including Iransactlon costs and are subsequenly carried at amorti$ed cost using the
effective interest method unless the arrangement constituleg a financing Iransaclion, where the transaction is
measured at the present value of the future rèceipts discounted at a market rale of Interest. Financlal assets
classified a$ receivable within one year are not 8mortised.
Classlflcatlon of flnanclal Ilabllltles
Financial liabilities and equity instruments are classified according lo the substance of thè contractual
arrangements entered into. An equity instrument is any Contract that evidences a residual interest in the
assets of the company aft8r deducting 811 of its liabilities.
Baslc flnanclal Ilabllltle$
Basic financial liabilitie$, including creditors, bank loans, loans from fellow group companies and preferanca
shares that are Classified as debt, are initially recognised at transaction prleo unless the arrangement
constitutes a financing transaction. where the debt instrument is measured at the present value of the futur&
payments discountèd at a market rate of interest. Financial liabilities ciassified as payable within one year ara
not 8mortised.
Debt instruments aro subsequ6ntly Carried 81 amortised cost, using the effe￿1ve interesl rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from supplier5. Amounts payable are classified as current liabilits'es if payment is due within one year
or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at
transaction price and subsequently rneasu￿d 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 ￿cognised in
profil or loss immediately, together with any ¢hanges in the fair value of the hedged asset or liability that are
attributable lo the hedged risk.

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Ac¢ountlng pollcS08
(Contlnuedl
The company is exempt from corporation tax. it being a company not carrying on a business for tha purposes
of making a profil.
Having obtsined charitable gtatus with Offed from 18 June 2003, the ¢ompany is not liable to corporation tax.
1.9 Employ00 boneflts
The costs of short-term employee benefits are recognised as a liability and an expens6, unless those costs
aro required to be reoognis8d as part of the cost of stock or fixed assets.
The cost of any unused holiday entsllement is re￿gnised in the period in whlch the employao's 8grvi08s are
received.
Ttrrminalion benefits ar8 recognised immediately as an expense when the company is demonstrably
committed to terminate the employment of an amployee or to provide termination bengfits.
1.10 Retlrtrmenl bengflts
Payments to defined contribution relirem8nt benefit 3ch8mes are charged as an expense as they fall due.
Incomlng re8our¢e8 from gonerntod fund•
Unr••trlcted
fund•
Totsl
2024
Total
2023
Distribution from Cook3town Enterprise Properties C.l.C,
Bank interest
19.870
8,947
10,120
10,120
10,120
10,120
26,817
In¢omlng re•our¢o8 frorn charltsble actlvltles
Unrestrlcted
fund8
Totsl
2024
Total
2023
Rent81 Income
Other property inwme
Business development income
268.852
55,058
21,102
268,852
55,058
21,102
287.768
41.025
25,435
345,012
345,012
334.228
14

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Re8ource8 expended on ¢harltablo actlvltles
Unro$trlcted
funds
Total
2024
Total
2023
Direct costs
Wages and salan&s
Social security costs
Staff pension costs defined contribution
Rates
Power, light and heat
Repairs and maintenanca
Insurance
Motor and travel expenses
Subscriptions
Legal and professional fees
Consultancy and administration support
Bank charg85
Bad and doubtful debts
Printing. postage and stationery
Advertising and publicity
InlerneVICT expenses
Cl8aning servi¢è8
Sundry expenses
Capital grant amortisation
Depreciation
Profit or loss on sale of Inv88lmenl prop8ty
28,454
90,840
2,750
3,052
5,050
17,201
23.823
10.062
1,396
3,082
250
10.022
1,147
28,454
90,840
2.750
3.052
5,050
17,201
23,823
10.062
1,396
3,082
250
10,022
1,147
39,234
81.490
2,523
2,967
5,619
16,449
29,916
14,581
{8561
2,477
1,927
2,153
1.289
512
1,358
9,642
6.669
4,779
5,630
(30,300}
93,957
122,2841
1,362
4,868
7,032
7,534
5,983
130,3001
88.380
1,362
4,668
7,032
7,534
5,983
130,300)
88.380
281,788
281,788
289,132
15-

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Re$ourco8 oxpondod on governancg ¢08ts
Unro$trlcted
funds
Total
2024
Totsl
2023
Wages and Salaries
Social security costs
staff pension costs defined contribution
Rates
Power. light and heat
Repairs and maintenance
Insurance
Motor and travel expens8s
Consultancy and administration support
Audit fees
Printing, postage and stationery
InterneVICT expenses
Cleaning services
Sundry expenses
Capital grant amortlsation
Depreciation
Bank int&r8sl
31.734
3.042
1,308
380
1,295
1,793
1,687
105
754
4,800
102
529
567
450
{2,281 }
6,656
613
31,734
3,042
1,308
380
1.295
1.793
1.687
105
754
4,800
102
529
567
450
12,281)
6,658
613
30,703
3,151
1,272
423
1,238
2,252
2,027
164)
162
4.570
102
502
315
424
12,2811
7,072
2,145
53,534
53,534
54.013
Operntlng surplus
2024
2023
Operatlng surplus for the year is staled after charging..
Fees payable to tho company's audltor for the audit of the company's financial
ststemenls
4.800
4,570
Taxatlon
Having obtsined charitable status with effect from 18 June 2013, the company is nol liabla to
corporation tax on its profits.
16

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Tanglble flxod a$80ts
Land and Plant and
buildlngs ma¢hlnory
et¢
Total
Colt
At 1 September 2023
Additions
2,989.361
408,031
656,972 3.646,333
31,764
439,795
Al 31 August 2024
3,397,392
688,736 4,086,128
Depr8clatlon and Impalrment
Al 1 September 2023
Depreciation charged in the year
959,259
58,299
460,635 1,419,894
36,737
95,036
At 31 August 2024
1,017,558
497,372 1,514.930
Carrylng amount
At 31 August 2024
2,379,834
191,364 2,571,198
At 31 August 2023
2.030,102
196,337 2.226,439
Dobtor•
Amount8 lalllng du• wlthln ono year:
2024
2023
Trade debtors
Other debtorg
7.237
24,223
8,780
9,753
31,460
18,533
10 Crodltors: amounts falllng duo wlthln on• year
2024
2023
Bank loans and overdrafts
Trade ¢reditor8
Taxation and soaal securfty
Other creditors
10,848
41,940
10,648
10,242
11.019
51,988
50,093
102,681
83,897
11 Credltorn: amounts falllng dua after more than one year
2024
2023
Bank loans and overdrafts
9,239
19,274
17-

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
12 Capllal grant ro$eN
Government
gr•nt8
Balance at 1 Sept8mber 2023
Amortisation in the year
877,657
(32,5811
Balance at 31 August 2019
845.076
13 Retlremont beneflt schemes
2024
2023
D?flnod ¢ontrlbutlon 8Ghgme•
Char9e to profit or loss In respect of defined contribution sch&mes
4,360
4,239
14 8tatsment of movements on churlty funds
Unrg8trlctod
surpluse
Balance at 1 September 2023
Profit for the year
2,087,420
19,810
Balance al 31 August 2024
2.107,230
Split a3 follows:
General reserves
Designated re8eTVeS
2,007,230
100,000
2,107.230
15 Mgmbers, Ilablllty
The ¢ompany is limited by guarantee, not having a share capitsl 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 reqUI￿d not exceeding £1.
18

COOKSTOWN ENTERPRISE CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
16 Related party tran8actlon8
Mr S Best. director of Cookstown Enterprise Centr• Ltd. 19 also the owner of Stanley Best Estate Agents, a
business that provided letting services to Cookstown Enterprise Centre Ltd during the year amounting to £250
12023.£4501. There was £nil12023'£nill owing to Stanley 8est Estate Agents al 31 August 2024.
The above transacllons were carried out under normal commerclal terms.

COOKSTOWN ENTERPRISE CENTRE LTD
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024

COOKSTOWN ENTERPRISE CENTRE LTD
PROPERTY AND TRAINING DIVISIONS- DETAILED TRADING AND PROFIT AND
LOSS ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Turnover
Propety dlvision
Training division
323,911
21,101
308,794
25,435
345,012
334,229
Colt of ¥alo8
Direct costs
28,454
39,234
128,4541
139,2341
Gr08• proflt
91.750
318,558
88.26%
294,995
Admlnlitratlvo •xpen•••
1306,2551
{281.7671
Operatlng proflt
10,303
13,228
ExceptlonAI Item$
ProfiVllos$} on sale of tangible assats
othor Int•r••t rec•lvablo and Ilmllar Ineomg
Bank interest receivod
Distribution from Cookstown Enterprise Properties
c.i.c
10,120
6,947
19.870
10,120
26,817
Intfrro8t payabl•
Bank interest
{6131
{2,1451
Proflt beforo taxatlon
5.74Yo
19,810
11.34*9
37,900
-20-

COOKSTOWN ENTERPRISE CENTRE LTD
PROPERTY AND TRAINING DIVISIONS- SCHEDULE OF ADMINISTRATIVE
EXPENSES
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Admlnl¥tratlve gxpgn801
Wages and salaries
Social security costs
Slaff pension costs defined contribution
Rates
Power, light and heat
Repairs and mairrt8nance
Insurance
Motor and travel expenses
Subscriptions
Legal and professional fees
Consultancy and administration sUPPOrt
Audit f&8S
Bank charges
Bad and doubtful debts
Printing, postage and stationery
Advertising and publicity
InterneVICT expenses
Cleaning services
Sundry expenses
Capital grant amortisation
Depreciation
Profil Or loss on sale of investment property
122.574
5,792
4,380
5,430
18,496
25,616
11,749
1,501
3,082
250
10,776
4.800
1,147
112,193
5.675
4.239
6.042
17,687
32,168
16,608
19201
2.477
1.927
2,315
4,570
1.289
512
1,460
9,642
7,171
4,494
6,054
132.5811
101,029
{22,2841
1,484
4,668
7,561
8,101
6.433
{32,5811
95,036
306,255
281,787
21