Charlty registratlon number NIC100182
Company registratlon number N1020367 (Northern Ireland)
FARSET ENTERPRISE PARK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

FARSET ENTERPRISE PARK LIMITED
LEGALAND ADMINISTRATIVE INFORMATION
Trustees
Dr C McGimps8y
Mr F Proctor
Mr H Donaghy
Mr D Hagan
Mr S Andrews
Mr J Quinliven
Ms V Pollock
(Appointed 23 June 2022)
(Appointed 23 June 2022)
(Appointed 23 June 2022)
(Appointed 8 November
2022)
Secretary
Ms l Grace
Charlty number
NIC100182
Company number
N1020367
Registered office
638 Springfield Road
Belfast
BT12 7DY
Audltor
Miscampbell & Co
6 AnnadaleAvenue
Belfast
BT7 3JH
Bankers
Danske Bank
Donegall Square West
Belfast
BT16JS
Solicitors
Mills Selig
21 Arthur Street
Belfast
BT14GA

FARSET ENTERPRISE PARK LIMITED
CONTENTS
Page
Trustees report
Independent auditor's report
Statement of financial activities
Balance sheet
Not&s to the financial statements
9-17

FARSET ENTERPRISE PARK LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
The trustees present thelr annual report and financial statements for the y8ar ended 31 March 2023.
The financial statements have been prepared in accordanc8 Wlth the accounting pollcles set out in not8 1 to the
financial statements and comply wlth the charity's Igoverning document]. the Companies Act 2006 and 'Accounting
and Reporting by Charities: Statement of Recommend8d 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 2019).
ObJe¢tlves and activitles
The company's objective is the promotion, for the public benefit, of urban regeneration in the area of social and
economic deprivation in North West Belfast.
Strategles for achlevlng objectlves
To achieve this the company provides business units for start up and small buslness, at flexible and favourable rates
with on site help and advice, to encourage the creation ofjob opportunities for unemployed people in the area.
The trustees have paid due regard to guidance issued by the Charity Commisslon in deciding what actlvities the
charity should underlake.
Maln actlvlties undertaken to further the Company's purposes for the public benefjt
One of the main activities of the Company is the provision of advic8 and guidance to anyone wishirg to start up a
business venture or to become self-employed.
Th8 company have given regard to The Charity Commission for Northem Ireland's guidance on public benefit.
Achievements and performance
Revlew of activities
The activities of the company continue to involve the creation and stimulation of job opportunities through support
for the creation of new enterprises and support for existing small businesses within Northern Ireland (specifically in
the deprived area of Northwest Belfast).
During the year the company only attracted 1 new business into the park. DMG Flooring.
Unfortunately. NAC, one of our longest tenant companies. must downsize their business and have given up one of
their units and an office due to the lack of excavation work. ATS have expanded, having successfully procured a HE
contracts taking on a second office and increasing staff numbers and Assure and Secure have also taken on an
extra office to train their security staff.
Enquiries for units have been much slower than usual throughout the year and most of these enquiries have been
for small units which are mostly occupied or have been un.suitable for the proposed business type. Demand for
larger units has been much lower.
Factors relevant to achieve objectives
The generation of sufficient rental income to cover running costs enabled the provision of services to employment
creation.
Financial revlew
Principal fundlng
The company was originally supported by LEDU and as51Sted by Intemational Fund for Ireland, No current funding
applies and company is selffinancing.

FARSET ENTERPRISE PARK LIMITED .
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Going concern
After maklng appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate
resources to continue In operational existence for the foreseeabl8 future. For this reason. they continue to adopt the
going concern basis in preparing the financial stat8ments. Further details regarding the adoptlon of the going
concern basis can be found in the accounling policies.
Reserves pollcy
It is the policy of the charity that unrestrrcted funds which have not been designated for a sp8cifi¢ use should be
maintained at a level equivalent to ba￿een three and six month's expenditure. The trustees consider that reserves
at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's
current activities while consideration is given to ways in which additional funds may be raised. This level of r8serves
has been maintained throughout the year.
The Trustees will continue to review the level of reserves that is prudent for the charity to hold in relation to known
future development, liabilities and uncertainties.
Structure, governance and management
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of
Association on 7th April 1987 and is a registered charity number NIC100182.
The trustees, who are also the directors for the purpose of company law, and who Served during the year and up to
the date of signature of the financial statements were..
Dr C McGimpsey
Mr F Proctor
Mr H Donaghy
Mr D Hagan
Mr S Andrews
Mr J Quinliven
Ms V Pollock
(Appointed 23 June 2022)
(Appointed 23 June 2022)
(Appointed 23 June 2022)
(Appointed 8 November 2022)
The management of the Company is the responsibility of the Trustees who are elected and c(Fopled under the
terms of the Articles of Association. The company secretary is responsible for keeping the books and records of the
company, and is assisted by one other member of staff.
Serving Trustees have the power to appoint any person as an additional Trustee: the number of Trustees shall not
be subject to any maximum but shall not be less than three. Each year at the AGM a third of the Trustess are
required to retire on a rotational basis, and they can be r&appointed. The Twstees shall be entitled to such
remuneration as the company may by ordinary resolution determine,, any remuneration shall be deenEd to accrue
from day to day. The Trustees are also entitled to reimbursement of any travel expenses incurred by them in
attending meetings on in connection wilh any other business of the company.
Organlsational structure and decision-making policies
The company has one member of staff, manager who makes day to day decisions and reports directly to the
Trustees. All major decisions require sanctioning by the Financial Director and the Trustees.
Funds held as custodlan trustee
No funds are held as custodian on behalf of others.

FARSET ENTERPRISE PARK LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Statement of trustees responsibllltles
The trustees, who are also the directors of Farset Enterprise Park Limited for the purpose of company law, are
responsibl8 for preparing the Trustees Report and the financial stat8m8nts in accordance wilh applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair
view of the state of affairs of the charity and of the incoming resources and application of resources, including the
income and expenditure. of the charitable company for that year.
In preparing these financial ststements, the trustees are required to:
select suitable accounting policies and then apply them consistenlly:
observe the methods and principles in the Charities SORP; .
make judgements and estimates that are reasonable and prudent,. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose wlth reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the financial statements comply with the
Companles Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Audltor
In accordance with the company's articles, a resolution proposing that Miscampbell & Co be reappointed as auditor
of the company will be put at a General Meeting.
The trustees report was approved by the Board of Twstees.
Dr C McGimpsey
Trustee
29 November 2023

FARSET ENTERPRISE PARK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF FARSET ENTERPRISE PARK LIMITED
Oplnion
We have audited the financial statements of Farset Enterprise Park Limited (the 'charfty') for the year ended 31
March 2023 which comprise the statemant of financial activities, the balance sheet and notes to th8 financial
ststements, including significant accounting policie5. The fiRancial reporting framework that ha5 been applied in
their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting
Standard 102 rhe Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom
GenerallyAccepted Accounting Practi￿).
In our opinion, the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its
Incoming resources and application of resources, for the year then ended;
have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accounting Practi￿.
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinlon
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs r8sponsibilities for the audit ol
the financial statements section of our report. We are independent of the charity 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 have fulfilled our oth8r 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.
Concluslons relatlng to golng con¢em
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively. may cast significant doubt on the charity's ability to continue as a going
concern for a period of at least ￿e1ve months froTn when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the
relevant sections of this report.
Other inforniatlon
The other information comprises the information included in the annual report other than the financial statements
and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual
report. Our opinion on the financial statements does not cover the other information and we do not express any fomi
of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. consider
whether the other information is materially inconsistent with the financial statements or our knowledge obtained in
the course of the audit, or otherwise appears to be materially. misstated. If we identify such material inconsistencies
or apparent material misstatements, we are required to determine whether thi5 gives rise to a materkgl 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 infomiation, we are required to report that fact.
We have nothing to report in this regard.
Matters on whlch we are requlred to report by exception
We have nothing to report in respect of th8 followlng matfers in relation to which the Charitie5 (Accounts and
Reports) Regulations 2008 require u5 to report to you if. in our opinion:
the information given in the financial statements is inconsistent in any material respect with the trustees
report; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records: or
we have not received all the information and explanations we require for our audit.

FARSET ENTERPRISE PARK LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF FARSET ENTERPRISE PARK LIMITED
Responsibilitles of trustees
As explained more fully in the statement of trustees responsibllltles, the trustees, who are also the dlrectors of the
charity for the purpose of company law, are responsible for the preparation of the financial statements and for being
satisfi6d that they give a true and fair view, and for such internal control as Ihe trustees 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 statements, the trustees are responsible for assessing the charity's ability to
continue as a going concern, disclosing. as applicable, matters related to going concem and using Ihe going
concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease
operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financlal statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the
Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material mi5Statement. whether due to fraud or error, and to issue an auditorfs report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements 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.
The extent to which our procedures are capable of detecting irregularities. including fraud. is detailed below.
Irregularities. including fraud, are instances of non-complianoe with laws and regulations. We design procedures in
line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below..
• obtained an understanding of the legal and regulatory frameworks that are applicable to the Charitable
Company and determined that the most significant are those that relate to the reporting framewo￿ (FRS
102 and the CompaniesAct 2006) and the relevant tax compliance regulation in the United Kingdom.,
understood how the Charitable Company is complying with those frameworks by making enquiries of
management to understand how the Charitable Company maintains and Communicates its policies and
procedures in these areas.
assessed the vulnerability of the Charilable Company's financial statements to material misststement,
including how fraud might occur by consldering the risk of management override and by assuming revenue
recognition to be a fraud risk: and
based on this understanding our audit procedures wer8 designed to identify norfrcomplianc8 With such laws
and regulations.
A further description of our responsibilities Is available on the Financial Reporting Council's websit8 at: http5:11
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report.
Use of our report
This report is made solely to the company's members. as a body. in accordance with section 391 of the Companies
Act 2014. 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 auditorfs 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 members as a
body, for our audit work, for this report. or for the opinions wehave formed.

FARSET ENTERPRISE PARK LIMITED .
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF FARSET ENTERPRISE PARK LIMITED
Patrick Miscampbell (Senior Slatutory Audltor)
for and on behalf of Mlscampbell & Co
29 November 2023
Chartered Accountants
Statutory Auditor
6 AnnadaleAvenue
Belfast
BT7 3JH
Miscampbell & Co is eligible for appointm8nt as auditor of the charity by virtue of its eligibility for appointment as
auditor of a company under section 1212 of the Companies Act 2006.

FARSET ENTERPRISE PARK LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOMEAND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted Unrestricted
funds
funds
2023
2022
Notes
come
nden
Rental income
Investments
Other income
wmen
99,703
5,026
1.750
100,335
653
Total Income
106.479
100,988
Charitable activities
105,289
55,518
Net income for the yearl
Net movement in funds
1,190
45,470
Fund balances at 1 April 2022
1,789,297
1,743,827
Fund balances at 31 March 2023
1,790,487
1,789.297
The statement of financial activities includes all gains and los$es recognised In the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.
The notes on pages 9 to 17 form part of these financial statements.

FARSET ENTERPRISE PARK LIMITED.
BALANCE SHEET
AS AT 31 MARCH 2023
2023
2022
Notes
Fixed assets
Tangible assets
12
1,304,685
1,300,907
Current assets
Debtors
Cash at bank and in hand
13
63,164
454.728
98,326
419,089
517,892
517,415
Creditors: amounts falllng due within
one year
14
(32,090)
(29,025)
Net current assets
485,802
488.390
Total assets less current Ilabllltles
1,790,487
1,789,297
Income funds
Unrestri
General unrestricted funds
Revaluation reserve
1,468,487
322,000
1,467,297
322,000
1,790,487
1,789,297
1,790,487
1,789,297
The notes on pages 9 to 17 form part of these financlal statements.
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 March 2023, although an audit has been carried out under section 144 of the Charities
Act2011.
The d1￿ctorS acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements under the requirements
of the Companies Act 2006, for the year in question in accordance with section 476.
These financial statements have been prepared in accordance wlth the provisions applicable to companles subject
to the small companies regime,
The financial statements were approved by the Trustees on 29 November 2023
Dr C McGimpsey
Trustee
Company registration number N1020367

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng pollcles
The prtncipal actlvity of th8 company continu8d to be the provision of rental unlts at favourable rates for start-
up busine5S.
Charity Informatlon
Farset Enterprise Park Llmlted is a private company limited by guarantee incorporated in Northem Ireland.
The registered office is 638 Springfield Road, Belfast, BT12 7DY.
1.1 Accounting convention
The financial statements have been prepared In accordance wlth the charivs [governlng document], the
Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland. ("FRS 102") and the Charities SORP "Accounting and Reporting by Charities- Statement ol
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 2019). The
charity is a Public Benefit Entity as defined by FRS 102.
The charity has laken advantage of the provisions in the SORP for charities not to prepare a Stat￿ent of
Cash Flows.
The financial stalements are prepared in sterfing, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial ststements have been prepared under the historical cost convention. The principal accounting
policies adopted are set oul below.
1.2 Going concern
At the time of approving the financial statements. the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the trn￿teeS
continue to adopt Ihe going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for us8 at the dlscretion of the trustees in furth8rance of thelr charltable
objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and
uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the
charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognlsed once the charity has been notif18d
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
r81ation to donations received under GiftAid or deeds of covenant is recognised at the tlme of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an Impending distribution.
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a
contingent asset.

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng policies
{Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity- The costs of each activity are made up of the total of dIr￿t costs and
shared costs. including support costs involved in undertaking each activity. Direct costs attrtbutable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned between those activities on a ba51S
consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and
depreciation charges are allocated on the portion of the asset's use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreclation is recognised so as to write off the cost or valuation of assets188S their resldual values over their
useful lives on the following bases:
Freehold land and buildings
Plant and equipment
Fixtures and fittings
20 % straight line
200/0 Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds
and the carrying value of the asset, and 15 recognised in the statement of financial activiti&s.
1.7 Impairnient of fixed assets
At each reporting end date, the charity 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).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less. and bank overdraft5. Bank overdrafts are shown
within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charivs balan￿ sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are 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 to settle on a net
basis or to realise the asset and settle the liability simultsn8ousIy,
10-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng policies
(Continued)
Baslc 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 Ihe arrangement constitutes a financing transaction, where the transaction is
measured at 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,
Baslc financial liabilltles
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction pri￿ unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market ra-te of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the eff8ctive interest rate method.
Trade credltors are obligatlons to pay for goods or services that have b68n acqulred In the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presentad as non-current liabilities. Trade creditors are recognisod initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognltlon of flnanclal Ilabllities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
to temiinate the employmenl of an employee or to provide termination benefits.
Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make judgements. estimate5
and assumption5 about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects cfflly that
period. or in the period of the revision and future periods where the revision affects both current and future
periods.
Income
Unrestrlcted Unrestrlcted
funds
funds
2023
2022
Rental income
99,703
100,335
11

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (QONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Investments
Unrestrlcted Unrestrlcted
funds
funds
2023
2022
Interest recelvable
5,026
653
other Income
Unrestrlcted
funds
Total
2023
2022
other income
1,750
Charltable actlvltie5
Support
costs
2023
Support
costs
2022
staff costs
Depreciation and impairment
General rates
Bank charges
Llght & heat
Repairs & maintenance
Insurance
Water rates
Bad debts
Telephone
Stationery & postage
staff entertainment
Consumables
General expenses
Computer costs
25.073
1,910
5,923
92
9,790
3,057
7,903
870
41.231
942
210
25,114
816
4.237
93
3,593
4,338
7,270
741
820
72
31
201
320
257
378
365
97,956
47,693
Share of governance costs (see note 7)
7.333
7,825
105,289
55,518
12-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Support costs
Governance
costs
2023
2022
Audlt fees
Legal and professional
3,600
3,733
3,600
3.733
3,450
4,375
7,333
7.333
7.825
Analysed between
Charitable activities
7.333
7,333
7,825
Governance costs Includes payments to the auditors of £3,600 (2022- £3,450) for audit fees.
Audltorfs remuneratlon
Fees payable to the charity's audltor and assoclates:
2023
2022
Audit of th@ charity's annual accounts
3.600
3,450
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the
charity during the year.
10 Employee5
The average monthly number of employees during the year was:
2023
Number
2022
Number
Employment costs
2023
2022
Wages and salaries
other pension costs
24.524
549
24,565
549
25,073
25,114
There were no employees whose annual remuneration was more than £60,000.
13-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
11 Taxatlon
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or sectlon
252 of the Taxationof Chargeable Galns Act 1992 to the extent that thes8 are applied to its charitabl8 objects.
12 Tanglble fixed assets
Freehold land
and buildlng$
Plant and Flxtures and
equlpment
fittlngG
Total
Cost
At 1 April 2022
Additions
Disposals
1,300,000
11,716
89.231
5,688
1.400,947
5.688
(50)
(50)
At 31 March 2023
1.300,000
11,666
94.919
1.406,585
Depreciatlon and Impalmient
At 1 April 2022
Depreciation charged in the year
Eliminated in respect of disposals
10,809
772
(50)
89,231
1,138
100,040
1.910
(50)
At 31 March 2023
11.531
90,369
101.900
Carrying amount
At 31 March 2023
1,300.000
135
4,550
1,304,685
At 31 March 2022
1,300.000
907
1,300,907
13 Debtors
2023
2022
Amounts falling due wlthin one year:
Trade debtors
Prepayments and accrued income
40,145
23.019
66,163
32,163
63,164
98,326
14 Creditors: amounts falling due within one year
2023
2022
other taxatlon and soclal security
Trade creditors
Accruals and deferred income
26,323
47
5,720
24,157
524
4.344
32,090
29,025
14-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
15 Retlrement benefit schemes
The charity operates a d8fined contribution pension scheme for all qualifying employees. The assets of th8
scheme are held separately from those of tha charity in an independently adminlstered fund. The penson cost
charge represents contribulions payable by the company to the fund and amounted to £549 {2022'. £549).
Contributions totalling £116 (2022: £104) were payable to the fund at the balance sheet date and are included
In creditors.
15-

4fj

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
17 Analysls of net assets between funds
Unrestrlcted Unrestrlcted
funds
funds
2023
2022
Fund balances at 31 March 2023 are represented by..
Tangible assets
Current assetsl(Ilabiliti&s)
1,304,685
485,802
1,300,907
488,390
1,790,487
1.789,297
18 Related party transactlons
Transactlons wlth related partles
During the year the charity entered into th8 followlng transactions with related partles:
One of the trustees in the company (FEPL) are also trustees in Farset Development Limited (FDL). Included
in Other Debtors is a loan of £20.111 (2022: £30,218) due from FDL.
17-