Charity registration number NIC100182
Company registration number N1020367 (Northern Ireland)
FARSET ENTERPRISE PARK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

FARSET ENTERPRISE PARK LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustses
Dr C McGimpsey
Mr F Prortor
Mr H Donaghy
Mr D Hagan
Mr S Andrews
Mr J Quinliven
Ms V Pollock
Secretary
Ms l Grace
Charity number
NIC100182
Company number
N1020367
Registered office
638 Springfield Road
Belfast
BT12 7DY
Auditor
Miscampbell & Co
6 Annadale Avenue
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 audito¢s report
Statement of financial activities
Balance sheet
Notes to the financial statements
9-16

FARSET ENTERPRISE PARK LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The Injstees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the charitls Igoverning documentl, the Companies Acl 2006 and "Accounting
and Reporting by Charities.. Statement of Recommended practi￿ applicable to charities preparing their accounts in
accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102)" (effective 1 January 2019).
Objectives and activlties
The company's objective is the promotion, for the public benefit, of urban regeneralion in the area of social and
economic deprivation in North West Belfast.
Strategies for achieving objectives
To achieve this the company provides business units for start up and small business, at flexible and favourable rates
wilh on site help and advice, to encourage the creation of job opportunities for unemployed people in the area.
Public benefrf
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertake.
AGtivities
Maln activities undertaken to further the Company's purposes for the public benefit
One of the main activities of the company is the provision of advice and guidance to anyone wishitvJ to slart up a
business venture or to become self-employed.
The company have given regard to The Charity Commission for Northern Ireland's guidance on public benefit.
Achievements and performance
Significant activities and achievements against objectives
Review of activitles
The activities of the eA)mpany 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 Northem Ireland (specifically in
the deprived area of Northwest Belfast).
During the year the company didn't attract any new businesses into the park.
Several of the companies within the pat1( are still struggling to keep afloat due to the knock-on effed of Ihe
Pandemic and the recession. Some of our tenant's have also given up units in order lo cul their overheads.
Enquired for smaller units have been on the increase as companies look lo downsize their businesse5 and cut their
cosls. There has been no demand for larger units.
Factors relevant to achieve objectives
The generation of sufficient rental income to cover running cosls enabled the provision of services to employment
reation.
Flnancial review
Prlnclpal funding
The company was originally supported by LEDU and assisted by International Fund for Ireland. No current funding
applies and company is self financing.

FARSET ENTERPRISE PARK LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Going concem
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate
resources to continue in operational existen￿ for the foreseeable future. For this reason, they continue to adopt the
going concern basis in preparing the financial statements. Further delails regarding the adoption of the going
concern basis can be found in the accounting policies.
Reserves policy
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be
maintained at a level equivalent to be￿een three and six month's expenditure. The trustees consider that reserves
at this level will ensure that, in the evenl of a significant drop in funding, they will be able to continue the charity's
current activities while consideralion is given to ways in which additional funds may be raised. This level of reserves
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 lo 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 regislered charity number NIC100182.
The trustees, who are also the directors for Ihe purpose of company law, and who served during the year and up to
the date of signature of the financ4al statements were:
Dr C McGimpsey
Mr F Proctor
Mr H Donaghy
Mr D Hagan
Mr S Andrews
Mr J Quinliven
Ms V Pollock
R8cniitment and appointment of trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted 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.
se￿Ing Trustees have the power to appoinl any person as an additional Truslee-, 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 re-appointed. The Trustees shall be entitled to such
remuneration as the company may by ordinary resolution determine,. any remuneration shall be deerred to accrue
from day lo day. The Trustees are also entitled to reimbursement of any travel expenses incurred by them in
attending meetings on in connection with any olher business of the company.
Ooanisational stnjcture
Organlsational structure and decislon-making policies
The Gompany has one member of staff, manager who makes day to day decisions and reports directly to the
Trustees. All major deasions 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 2024
Statement of trustees responsibillties
The trustees, who are also the directors of Farset Enterprise Park Limited for the purpose of company law, are
responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿).
Company Law requires the trustees to prepare financial statements for each financial year which gwe 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 statements, the trustees are required to..
seleGt suitable accounting policies and then apply ihem consistently.,
observe the methods and principles in the Charilies SORP.,
make judgements and estimates that are reasonablè and prudent; and
prepare the financial statements on the going conr£m basis unless it is inappropriale to presume that the charity
will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charity 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 charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
In accordance with the company's artides. 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 Trustees.
Dr C McGimpsey
Trustse
20 November 2024

FARSET ENTERPRISE PARK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF FARSET ENTERPRISE PARK LIMITED
Opinion
We have audited the financial slalemenls of Farset Enterprise Park Limited (the 'charity') for the year ended 31
March 2024 which comprise the statement of financial activities. the balance sheet and notes to the financial
statements, induding significant accounting policies. The financial reporting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting
Standard 102 The Financial Reporting standa￿ applicable in the UK and Republic of Ireland {Uniled Kingdom
Generally Accepted Accounting Practice).
In our opinion, the finanaal statements..
give a true and fair view of the state of the charitable companYs affairs as al 31 March 2024 and of its
incoming resour￿$ and application of resources. for the year then ended.,
have been property prepared in accordance 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 International Standards on Auditing {UK) (ISAS (UKI) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs ￿sponsIbl11t￿eS for the audit ol
the financi81 slatements section of our report. We are independent of the tharity in accordance with the ethical
requirements that are relevanl 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 appropriale lo provide a basis for our opinion.
Concluslons relatlng to going ¢on¢ern
In auditing the financial statemenls, we have conduded that the trustees use of the going concern basis of
accounting in the preparation of the financial statements is appropriale.
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 Gonlinue as a going
cOn￿M for a period of at least ￿e1ve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other Infomiation
The other information wmprises the information included in the annual report other than the finarKial statements
and our auditols report thereon. The trustees are responsible for the other infomialion contained within the annual
report. Our opinion on the financial slalements does not Gover the other information and we do not express any form
of assurance conclusion thereon. Our responsibilty is to read the other information and, in doing so, consider
whether the other infomialion is materialty inconsistent with the financial statements or our knowledge obtained in
the course of the audit, or othe￿iSe appears to be materially misstaled. If we identify such material inconsistencies
or apparent material misstatements, we are required to delermine whether this gives rise to a materi91 misstatement
in the financial statements themselves. If, based on the work we have performed, we conclude that there is a
material misstatemenl of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are requlred to report by exception
We have nothing to report in respect of the following matters in relalion to which the Charrties (Accounts and
Reports) Regulations 2￿8 require us lo report to you if, in our opinion..
the information given in the financial statements is inconsistent in any material respect wilh the trustees
report- or
sufficient accounting records have not been kept.. or
the finanaal 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
Responsibilltiès of trustees
As explained more fully in the statement of trustees responsibilities, the tnjstees, who are also the directors of the
charity for the purpose of company law, are responsible for the preparation of the financial statements and for being
satisfied that they give a Irue and fair view, and for such internal control as the trustees determine is necessary to
enable the preparation of financial statements Ihat 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 concem. disclosing. as applicable, matters related to going concern and using the going
concem 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 rosponsibllities for the audlt of the financial statements
We have been appointed as auditor under section 144 of the Charities AGt 2011 and report in accordance with the
Act and relevant regulations made or having effect Ihereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatemenl, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assuran￿ but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always delect a material misslalement 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, lo detect material misstalements in respect of irregularities, including
fraud. The extent to which our pro￿dureS are capable of detecting irregularities, including fraud is detailed below..
obtained an understanding of the legal and regulatory frameworks that are applicable lo the Charitable
Company and determined that the most significant are those that relate to the reporting framework IFRS
102 and the Companies Act 2006) and the relevant tax compliance regulation in the United Kingdom,.
understood how the Chafitable Company is complying with those framewort(s by making enquiries of
management to understand how the Charitable Company mainlains and communicates its policies and
prO￿dureS in these areas.,
assessed the vulnerability of the Charitable Company's financial statements lo material misstatement,
including how fraud might occur by considering the risk of management override and by assuming revenue
recognition to be a fraud risk,- and
based on this understanding our audit procedures were designed to idenlify noTrcompliance wrth such laws
and regulations.
We assessed the sUs￿ptibIlity of the company's financial statements to material misstalement, induding obtaining
an understanding of how fraud might occur. by.,
identification of related parties..
making enquiries of management regarding where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud-
considering the internal controls in place within the o)mpany to mitigate the risk of fraud and non-
compliance with laws and regulations.,
To address the risk of fraud, override of controls and non-complian￿ wilh laws and regulations, we performed
analytical procedures to identify any unusual or unexpected related party relationships, tested joumal entries lo
identity unusual transactions, investigated any significant or unusual transactions and assessed whether
judgements and assumptions made in delemiining the accounting estimates were suggestive of potential bias.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https.'Il
www.frc.org.ukjauditorsresponsibilities. This description fomis part of our auditorfs report.

FARSET ENTERPRISE PARK LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF FARSET ENTERPRISE PARK LIMITED
Use of our report
This report is made solely to the company's members, as a body, in accordan￿ with section 391 of the Companies
Act 2014. Our audit work has been undertaken so that we might stale to Ihe company's members those matters we
are required to state to them in an audilorfs report and for no other purpose. To the fullest extent permitted by law.
we do not accept or assume responsibilrty 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 we have formed.
Patrlck Miscampbell (Senior Statutory Audltor)
for and on behalf of Mis¢ampbell & Co
20 November 2024
Chartered Accountants
ststutory Auditor
6Annadale Avenue
Belfast
BT7 3JH
Miscampbell & Co is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as
auditor of a company under section 1212 ofthe Companies Act 2006.

FARSET ENTERPRISE PARK LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Unrestricted
funds
funds
2024
2023
Notes
Rental income
Investments
Other income
96,395
13,679
99,703
5,026
1,750
Total Incom8
110,074
106.479
Charitable activities
84,295
105,289
Net income for the yearl
Net movement in funds
25,779
1,190
Fund balan￿S at 1 April 2023
1,790,487
1,789,297
Fund balances at 31 March 2024
1.816,266
1,790,487
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses 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 16 form part of these financial ststemenls.

FARSET ENTERPRISE PARK LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Notes
Flxed assèts
Tangible assets
13
1,312,439
1,304,885
Current assets
Debtors
Cash at bank and in hand
14
75,231
467,366
63,164
454,728
542,597
517,892
Cr8ditOTS: amounts falllng duè wlthln
one year
15
(38,270)
(32,090)
Net curront assets
504,327
485,802
Totsl asgets less currant Ilabllltlos
1,816,766
1.790,487
Net assets excluding pension liability
1.816.766
1.790,487
Tha funds of tho charfty
Unrestricted funds
1,816,766
1,790,487
1,816,766
1,790.487
The notes on pages 9 to 16 form part of these financial statements.
The company Is entitled to the exemption from the audit requI￿rnent contsined in section 477 of the Companies Act
2006, for the year ended 31 March 2024, although an audll has been carried out under secllon 144 of the CharitÈès
Act2011.
The dire¢tors acknowledge their responsibilitles for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.
The member8 have not required the company to obtain an audit of its financial statements under the requirernents
of the Companles Act 2006. for the year In question in accordance with section 476.
These financial statements have been prepared In accordance with the provlsions applicable to companles subject
to the small companies regime.
The finanGial statements were approved by the trustees on 20 November 2024
Dr C McGimpsey
Trustee
Company registration number N1020367 (Northem Ireland)

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng policies
The principal activity of the company continued to be the provision of rental units at favourable rates for start-
up business.
Charity Infomiation
Farset Enterprise Park Limited is a private company limited by guarantee incorporated in Northern Ireland.
The registered office is 638 Springfield Road, Belfast. BT12 7DY.
1.1 Accounting conventlon
The financial statements have been prepared in accordance with 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 of Recommended Praclice 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 20191. The charity is a Public Benefit Entity as defined by
FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded lo the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are sel out below.
1.2 Going concern
At the time of approving the financAal statements, the trustees have a reasonable expectation that the charily
has adequate resouros lo continue in operational existence for the ft)reseeable future. Thus Ihe trustees
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted fvnds are available for use at the discretion of the trustees in furtheran¢e of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors 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 musl 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 re￿ived.
Cash donations are recognised on re￿ipt. Other donations are recognised onGe the charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
relation lo donations received under Gift Aid or deeds of covenant is reGognised at the time of the donation.
Legacies are recognised on receipt or othe￿ise if the charity has been notified of an impending distribution,
the amount is known, and receipt is expeded. If the amount is not known, the legacy is treated as
ontingent asset.

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
{Contlnued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to
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 cosls of each activity are made up of the lolal of dir￿1 cosls and
shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocaled directly to thal 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 basis
consislenl 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 flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at ¢osl or valuation, net of
depreciation and any impaiment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less Iheir residual values over their
useful lives on the following bases:
Freehold land and buildings
Plant and equipment
Fixtures and fittings
20 % straight line
20 % straight line
The gain or loss arising on the disposal of an assel is determined as the differen￿ between the sale prO￿edS
and the rArrying value of the assel, and is recognised in the statement of financial adivilies.
1.7 Impalrment 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 indrAlion
exists, Ihe recoverable amount of the asset is estimated in order to determine the extent of the impairment
loss lif any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call wilh banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.9 Financial Instruments
The Gharity 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 charity's balan￿ sheet when the charity becomes party to the
contrartual provisions of the instrument.
Financial assels and liabililies are offset, with the net amounts presented in the financial statements, when
there is a legally enfor￿able 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 simultaneousty.
10-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
(Continued)
Basic flnancial assets
Basic financial assels, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequenuy carried at amortised cosl using the effedive
interest method unless the 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
dassified as receivable within one year are not amortised.
Bas1¢ financlal liabilities
Basic financial liabilities, induding creditors and bank loans are initially recognised at transaction price unless
Ihe aThangement constitutes a financing transaction, where the debl instrument is measured at the present
value of the future paymenls discounled al a markel rate of inlerest. Financial liabilities classified as payable
wilhin one year are not amortised.
Debl instruments are subsequently 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
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If nol, 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 melhod.
Derecognition of financlal liabilitles
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 te￿Inate the employment of an employee or to provide termination benefits.
Critical accounting estimates and judgements
In the application of the charity's accounting policies, Ihe trustees are required to make judgements, estimales
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimales 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 assumption5 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 cffily that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Income
Unrestricted Unrestricted
funds
funds
general
general
2024
2023
Rental income
96,395
99,703
11

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Income from Investments
Unrestrictsd Unrestrictsd
funds
funds
2024
2023
Interest receivable
13,679
5,026
Other income
Unrestricted Unrestricted
funds
funds
2024
2023
Other income
1,750
Charitsble actlvltlos
Support
costs
Support
costs
2023
2024
Staff costs
Deprectation and impairment
General rates
Bank charges
28.783
3,529
5,041
97
25,073
1,910
5,923
92
F il
Light & heat
Repairs & maintenance
Insurance
Water rates
Bad debts
Telephone
Stationery & postage
Consumables
General expenses
Computer costs
11,327
6,939
9,336
9,790
3,057
7,903
870
41,231
942
210
320
257
378
7,537
1,026
228
405
869
419
76,420
97,956
Share of governance costs {see nole T)
7,875
7,333
84,295
105,289
12-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support costs
Govemance
costs
2024
2023
Audit fees
Legal and professional
4,300
3,575
4,300
3,575
3.600
3,733
7,875
7,875
7,333
Analysed be￿een
Charitable activities
7.875
7,875
7,333
Governance costs includes payments to the auditors of £3,800 (202> £3,600) for audit fees.
Net movement In funds
2024
2023
The net movement in funds is stated after chargingl{crediting)'.
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assels
4,300
3,529
3,600
1,910
Audltorfs remuneration
Fees payable to the charity's auditor and associates..
2024
2023
For audlt services
Audil of the financial slatements of Ihe charity
4,300
3.600
10 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the
charity during the year.
11
Employee8
The average monthly number of employees during the year was..
2024
Number
2023
Number
13-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11
Employees
Icontlnued)
Employment costs
2024
2023
Wages and salaries
Other pension costs
28,127
656
24,524
549
28,783
25,073
There were no employees whose annual remuneration was more than £60,000.
12 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charttable purposes.
13 Tangible fixed assets
Fro•hold land
*nd bulldlngs
Plant and Flxtur•s and
equlpmont
ttln
Total
Cost
At 1 April 2023
Additions
1,300,000
11,666
100
94,919 1.406,585
11,183
11.283
At 31 March 2024
1,300,000
11,766
106,102 1,417,868
Depreciation and irnpairnient
At 1 April 2023
Depreciation charged in the year
11,531
155
90,369
3,374
101.9¢JO
3.529
At 31 March 2024
11,686
93,743
105,429
Carrying amount
At 31 March 2024
1,300.0
80
12,359 1,312.439
At 31 March 2023
1,300,000
135
4,550 1,304,685
14 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
62,319
12,912
40,145
23,019
75.231
63,164
14-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15 Creditors: amounts falling due within one year
2024
2023
Other taxation and soaal security
Trade creditors
Accruals and deferred income
30,091
2,429
6,250
26,323
47
5.720
38,770
32,090
16 Retiremènt beneflt schemes
Defined contrlbutlon schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the charity in an independently administered fund. The pension Cost
charge represents contributions payable by the company to the fund and amounted to £657 (2023.. £549).
Contributions totalling £145 (2023-. £116) were payable to the fund at the balan￿ sheet date and are included
in Greditors.
17 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subjed to speafic conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside OLrt of unrestricted funds by the trustees for specific purposes.
At 1 April
2023
Incoming
resources
Resources At 31 March
oxpended
2024
Unrestricted reserves
Revaluation reserves
General funds
1,468,487
322,000
110,074
183,795)
1.494,786
322,000
(500)
(500)
1,790,487
110,074
(84,295)
1,816,266
Previous year:
At 1 Aprll
2022
Incoming
resources
Resources At 31 March
expended
2023
Unrestricted reserves
Revaluation reserves
1,467,297
322,000
106,479
(105,289)
1.468,487
322.01)
1,789.297
106,479
(105,289)
1,790,487
15

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
18 Analysis of not assets betweèn funds
Unrestricted
funds
2024
At 31 March 2024:
Tangible assets
Current assetsl(liabilities)
1,312,439
503,827
1.816,266
Unrestricted
funds
2023
At 31 March 2023:
Tangible assets
Current assetsl{liabilitiesl
1,304,685
485,802
1,790,487
19 Related party transacttons
Transactions with related partles
During the year the charity entered into the following transactions with related parties..
One of the trustees in the company {FEPL) are also trustees in Farsel Development ￿Mited (FDL). Included
in Other Debtors is a loan of £10,005 (2023.. £20,111) due from FDL.
16-