COMPANY REGISTRATION NO: N1032598
Charity registered number: NIC100257
PORTGLENONE ENTERPRISE GROUP LIMITED
(Private company limited by guarantee wlthout share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
Tony Clarke
53 Andersonstown Road
Belfast
BTII 9AG

PORTGLENONE ENTERPRISE GROUP LIMITED
CONTENTS
PAGE
Reference and administrative details of the charity, its trustees and
advisers
Annual Report of the Trustees
Independent Examiner Report
Statement of Fi nancial Activities
10
Balance Sheet
11-12
Notes to the Financial Statements
13-20

PORTGLENONE ENTERPRISE GROUP LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE
ACCOUNT
Year to
Unrestricted Restrlcted 30-Jun-23
Funds
Funds
TOTAL
Year to
30-Jun-22
TOTAL
Note
Incorne from..
Donations and Legacies
Charitable Activities
10,707
48,551
187,960
198,667
48,551
242,330
18,411
Total Income
59,258
187,960
247,218
260,741
Expendlture on:
Charita ble Activities
63,971
164,707
228,678
239,023
Total Expendlture:
63.971
164,707
228,678
239,023
Net income/lExpenditure)
14,7141
23,253
18,539
21,719
Transfers between funds
6,437
16,4361
Net rnovement In funds
1,723
16,817
18,539
21,719
Reconciliation of Funds
Total funds brought forward
52,642 480,212
532,854
511,135
Total Funds carried fonvard
54,365
497,028
551,394
532,854
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The statement of financial activities also complies with the requirernents for an income and
expenditure account under the Companies Act 2006.
The notes on page 12 to 13 form and integral part of these accounts
10

PORTGLENONE ENTERPRISE GROUP LIMITED
IPrivate company lim ited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
BALANCE SHEET
As at 30 June 2023
2023
2022
Note
Fixed Assets
Fixed Assets
621,867
621,867
683,254
683,254
Current Assets
Debtors
Cash at bank
4,115
98,403
102,518
81,463
81,463
Liabllltles
Cred itors: arnounts falllng due wlthln one year
Loans: amounts lallln8 due wSthln one year
Government Grants.. amount5 fallln8 due wlthln one year
(5,4201
115,9771
180,3401
(101,737)
{6,0841
112,7491
184,3401
(103,173)
14
Net Assets
{20,274
601,593
{655}
682,599
Total Assets Less Current (Liabilities)
Long-term Llabllltles
Loans Falling due: amounts fallln8 due more than one year
Government Gra ntS.' arnounts fallln8 Iyue more than one year 14
Net assets
15
(50,199)
169,405)
180,341)
532,854
551,394
Funds
Restricted
Unrestricted
497,028
54,365
480,212
52,642
TOTAL FUNDS
12
551,394
532,854
The cornpany is entitled to the exemption from the audit requirement contained in section 477 of
the Cornpanies Act 2006, for the year ended 30 June 2023.
The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting
records which comply with section 386 of the Act and for preparing financial statements which give
a true and fair view of the state of affairs of the company as at the end of the financial year and of
its incorning resources and application of resources, including its income and expenditure, for the
financial year in accordance with the requirements of sections 394 and 395 and which otherwise
comply with the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the companv.
11

PORTGLENONE ENTERPRISE GROUP LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30JUNE 2023
BALANCE SHEET Cont...
As at 30 June 2023
The Members have not required the company to obtain an audit of its financial statements for the
year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies regime.
The financial statements were approved by the board directors on
signed on their behalf by:
l+and were
Kieran Adams
Trustee
The notes on page 13 to 20 form and integral part of these accounts
12

PORTGLENONE ENTERPRISE GROUP LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30JUNE 2023
NOTES TOTHE ACCOUNTS
l Accounting policies
Charlty Informatlon
Portglenone Enterprise Group Ltd is a private company limited by guarantee incorporated in
Northern Ireland. The registered office 15: principal place of business is 61 Main St, Portglenone,
Ballymena, County Antrim., BT44 8HP.
1.1 Accountln8 convention
The accounts have been prepared in accordance with the charity's governing document, the
Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable to cha rities preparing their accou nts in accordance with the Fi na ncial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for
accounting periods commencing from l January 20161. The charity is a Public Benefit Entity as
defined bv FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102
Update Bulletin I not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity.
Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to
include the revaluation of freehold properties and to include investment properties and certain
financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Golng 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 trustees continue to adopt the going concern basis of accounting in preparing the
financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their
charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used.
1.4 Incoming resources
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 recognised once the charity has
been notified of the donation, unless performance conditions require deferral of the amount.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation.
13

PORTGLENONE ENTERPRISE GROUP LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30JUNE 2023
NOTES TO THE ACCOUNTS (continued)
1.4 Incomlng resources (continued)
Turnover is measured at the fair value of the consideration received or receivable and represents
amounts receivable for goods and services provided in the normal course of business, net of
discounts, VAT and other sales related taxes.
1.5 Resources expended
Liabi lities are recognised as expenditure as soon as there is a legal or constructive obligation
comrnitting the charity to that expenditure, it is probable that a transfer of economic benefits will
be required in settlement and the amount of the obligation can be measure reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all cost related to the category.
The charity is below the charity audit threshold and therefore is exempt from reporting
expenditure on an activity basis. The charity has opted to report by the nature of expenditure
rather than on an activity ba515.
1.6 Tanglble flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or
valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual
values over their useful lives on the following bases..
Fixtu res and Fittings
20% on cost
Computers
20Yo on cost
1.7 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 overdrafts. Bank
overdrafts a re shown within borrowings i n cu rrent liabilities.
1.8 Flnanclal Instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and
Section 12'0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes
party to contractual provisions of the instrument.
Financial assets and liabilities a re offset, with the net amounts presented in the f inancial
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 simultaneously
14

PORTGLENONE ENTERPRISE GROUP LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
1.9 Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using
the effective interest method unless the arrangement constitutes a financing transaction, where
the transaction is measured 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.
1.10 Baslc flnanclal Ilabllltles
Basic fi nancial liabilities, i nclud ing creditors and bank loans are initial ly recognised at transaction
price 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 rate of interest.
Financial liabilities classified as paya ble withi n one year are not amortised.
Debt 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 not, they are presented as non-current liabilities.
Trade creditors are recognised initially at transaction price and subsequently measured at
amortised cost using the effective interest method.
1.11 Dereco8nltlon of flnanclal Ilabllltles
Financial liabilities are derecognised when the charity's contractua l obligations expire or are
discharged or cancelled.
1.12 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 terminate the employment of an employee or to provide termination
benefits.
1.13 Critical accounting estimates and Judgements
In the application of the charity's accounting policies, the trustees are required to make
judgements, estimates and assumptions 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 only that period, or in the period of the revision and future periods where the
revision affects both current and future periods.
15

PORTGLENONE ENTERPRISE GROUP LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
NOTES TO THE ACCOUNTS {continued)
2 Income from Donations and Le
acies
2023
2022
Unrestricted Restricted
Funds
Funds
Note
TOTAL
TOTAL
Bannside Stitchers
BIG Splash
CHIP
CIN
Community Centre Income
DAERA
Green Group
Hal ifax
History & Heritage Group
HMRC Furlough Grants
HLF
Mid&East Antrim
People in Community
Grant Release
Summer Scheme
Totals 2023
795
795
1,956
350
143
1,591
650
4,585
6,042
1,071
1,956
350
5,477
5,477
1,401
1,401
7,960
859
260
12,015
2,420
76,965
84,340
10,195
209,095
6,709
78,216
84,340
8,716
185,764
6,709
78,216
84,340
8,716
187,960
14
2,197
Totals 2022
209,095
209,095
3 Income from Charltable Actlvitles
2023
2022
Unrestricted Restrlcted
Funds
Funds
TOTAL
TOTAL
Rental Income
Donations
Awards and Grants
General Fund
Totals 2023
19,486
10,707
14,525
14,539
59,258
19,486
10,707
14,525
14,539
59,258
16,575
33,235
800
1,036
51,646
Totals 2022
50,242
1.404
51,646
16

PORTGLENONE ENTERPRISE GROUP LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
NOTES TO THE ACCOUNTS {CONTINUED)
4 Staff Costs and Numbers
2023
2022
Gross Wages and Salaries
22,640
22,640
31,122
31,122
No employee received emoluments of more than £60,00012022.'Nill
The average monthly number of employees during the year, calculated on the basis of full time
equivalents, was as follows.,
2023
Number
2022
Number
5 Ex
endlture
2023
2022
Charltable Actlvitles
Unrestricted Restricted
Funds
Funds
TOTAL
TOTAL
Bank Charges
Community Centre Expenses
Danske Bank Project
Depreciation
Donations
General expenses
Heat & Lighting
Insurance Expense
Office Expense
Payroll Expenses
Professional Fees
Programrne Costs
Rent and Rates
Repairs and Maintenance
Telephone
Trai ning
UCIT Loan Interest Charged
Total 2023
307
1,163
307
77,270
225
74,464
12,144
61,387
76,108
61,387
1,996
1,000
61,387
1,996
7,823
7,602
5,436
1,951
22,640
2,330
25,294
334
11,173
2,367
6,823
7,602
5,436
1,951
22,640
2,330
1,078
334
11,173
2,367
11,191
7,085
3,702
575
31,122
1,210
17,301
24,216
12,642
2,462
115
3,398
239,023
767
63,971
767
228,678
164,707
Total 2022
67,223
171,800
196,850
17

PORTGLENONE ENTERPRISE GROUP LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
NOTES TO THE ACCOUNTS (CONTINUED)
6 Trustees remuneration & expenses
During the year, no Trustees received any remuneration12022 - £NIL).
During the year, no Trustees received any benefits in kind (2022 - £NIL}.
During the year, no Trustees received any reimbursement of expenses {2022 - £NIL).
7 Debtors
2023
2022
Grants Receivable
Prepayments
Other debtors
4,115
4,115
8 Credltors: amounts fallln
due wlthln one
ear
2023
2022
Accruals & Deferred Income
HMRCVAT
Other Creditors
Grants Held
1,920
(54
274
3,279
5,420
1,920
(401
924
3,279
6,084
9 Tan
Ible Flxed Assets
Land &
Buildin
Bank
F&F&
Total
ui
COST
At l July 2022
Additions
Disposals
At 30 June 2023
DEPRECIATION
At l July 2022
Charge for the year
Eliminated on disposal
At 30 June 2023
NET BOOK VALUE
At beginning of period
At 30 June 2023
440,000
443,141
31,405
914,S46
440,000
443,141
31,405
914,546
206,771
59,092
24,521
2,295
231,292
61,387
265,864
26,815
292,679
440,000
440,000
236,370
177,277
6,884
4,589
683,254
621,867
18

PORTGLENONE ENTERPRISE GROUP LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
NOTES TO THE ACCOUNTS (continued)
10 Inde
endent examiner's remuneration
The independent Examiner's remuneration amounts to an Independent Examination fee of
£1,200 {2022- £1,200)
11 Related art transactions
There were no related party transactions during the year.
12 Staternent of funds - current
ear
Balance at
l July
2022
Income
Expenditure
Transfer
in/out
Balance at
30June
2023
Restricted funds
BIG Splash
Bannside Stitchers
5,058
8,956
795
350
4,585
5,477
11,583
327
84,340
1,401
(8,7121
5,303
17951
CHIP
5,895
4,585
6,013
14,7421
1,502
9,170
11,490
11,460
CIN
Community Centre Income
Awards & Grants
APEX Housln8
Grant Release
Green Group
History & Heritage Group
Mid&East Antrim
People in Community
Restricted A55ets Gifted
Summer Scherne
Writers Group
Total restrlcted funds
11241
13271
161,3871
123,995
146,948
{1,4011
{2,983)
2,983
4,209
63,940
4,209
17.433
284,764
6,886
31,995
284,764
13,668
1,257
480,213
(78,502}
4,131
(10,9141
11,2571
(164,707) {6,436)
190,094
499,164
Unrestrlcted funds
Rental Income
Donations
General funds
Total Unrestricted funds
19,486
10,707
26,931
57,124
119,486)
(10,707)
(63,9711 36,630
(63,971)
6,437
52,642
52,642
52,231
52,231
Total of funds- current year
511,135
247,218
{228,678)
551,394
19

PORTGLENONE ENTERPRISE GROUP LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
13 Statement of fund -
rior
ear
Balance at
l July
2021
Transfer
in/out
Balance at
30 June
2022
Income
Expenditure
Total unrestricted funds
Total restricted funds
Total of funds - prlor year
58,541
452,595
511,135
50,242
210,499
260,741
167,2231
11,082
1171,8001 111,0821
(239,022)
52,642
480,213
532,854
14 Government Grants
Government grants have been disclosed in the financial statement in line with the SSAP 4
disclosure requirements. Government grants are recognised in the profit and loss account in
an appropriate manner that matches them with the expenditure towards which they are
intended to contribute.
Grants towards fixed assets are recognised over the expected useful lives of the related assets
and are treated as deferred income and released to the profit and loss account over the useful
life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for
receipt have been complied with.
2023
2022
Long Term Llabllltles
Government Grant for New Build
Additions
Grant Released
Balance c/f
164,681
249,021
84,340
80,341
84,340
164,681
Government Grant5: amounts falling due within one year
Government Grants: amounts falling due more than one year
Balance ¢/f
80,340
84,340
80,341
164,681
80,340
IS Loan Re
able
2023
2022
Loans Brought Forward
Additions- BBL Loan
Payrnents made
Balance c/f
82,154
94,903
15,977
66,177
12,749
82,154
Loanss: amounts falling due within one year
Loans: amounts falling due more than one year
Balance c/f
15,977
50,199
66,177
15,977
66,177
82.154
20