COMPANY REGISTRATION NO.. N1032598
Charity registered number: NIC100257
PORTGLENONE ENTERPRISE GROUP LIMITED
IPrlvate ¢ompany Ilmlted by guarantee wlthout share capital)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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 Trustee5
Independent Examiner Report
Statement of Financial 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 2024
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE
ACCOUNT
Year to
Unrestricted Restricted 30-J un-24
Funds
Funds
TOTAL
Year to
30-Jun-23
TOTAL
Note
Income from:
Donations and Legacies
Charitable Activities
61,303
40,966
116,561
177,864
40,966
198,667
48,551
Total Income
102,269
116,561
218,829
247,218
Expenditure on:
Charitable Activities
65,497
150,984
216,481
228,678
Total Expenditure:
65,497
150,984
216,481
228,678
Net income/lExpenditure)
36,772
134,4231
2,349
18,539
Transfers between funds
11,490
111,4901
Net movement in funds
48,262
145,9131
2,349
18,539
Reconciliation of Funds
Total funds brought forward
52,231 499,164
551,394
532,854
Total Funds carried forward
100,493
453,250
553,743
551,394
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 requirements 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 limited by guarantee without share ¢apitall
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
BALANCE SHEET
As at 30 June 2024
2024
2023
Note
Fixed A55ets
Fixed Assets
528,649
528,649
621,867
621,867
Current Assets
Debtors
Cash at bank
10,555
69,851
80,406
81,463
81,463
Liabilities
Creditors
Government Grants
{21,5791
121,397)
180,3401
(101.737)
14
121,579)
Net Assets
58,827
(20,274)
601,593
Total Assets Less Current (Liabilities)
587,476
Long-term Liabilities
Loans Fal li ng due.. 3rnounts fallin8 due more than one year
Net assets
Is
{33,734)
553,743
150,199)
551,394
Funds
Restricted
Unrestricted
453,250
100,493
499,164
52,231
TOTAL FUNDS
12
553,743
551,394
The company is entitled to the exemption from the audit requirement contained in section 477 of
the Companies Act 2006, for the year ended 30 June 2024.
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 incoming 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 company.
11

PORTGLENONE ENTERPRISE GROUP LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIALSTATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
BALANCE SHEET Cont...
As at 30June 2024
The members have not required the company to obtain an audit of its financial statement5 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 2610312025 and were signed on
their behalf by..
Damien Clarke
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 30 JUNE 2024
NOTES TO THE ACCOUNTS
l Accounting policies
Charity information
Portglenone Enterprise Group Ltd is a private company limited by guarantee incorporated in
Northern Ireland. The registered office is.. principal place of business is 57-59 Main Street,
Portglenone, Northern Ireland Main Street, Portglenone, Ballymena, Northern Ireland, BT44 8HP.
1.1 Accounting 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 charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}" {as amended for
accounting periods commencing from l January 20191. 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 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 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
IPrivate company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
NOTES TO THE ACCOUNTS {continued)
1.4 Incoming 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 $31es related taxes.
1.5 Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obl igation
committing 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 basis.
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 irnpairment losse5.
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:
Fixtures and Fittings
20/0 on cost
Computers
20% 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 are shown within borrowings in current liabilities.
1.8 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and
Section 12'0ther Financial Instrument51ssues' 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 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 i ntention to settle on a net basis or to rea lise 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 2024
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 Basic financial liabilities
Basic f ina ncial liabi lities, including creditors a nd bank loans are initially 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 payable within 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 Derecognition of flnancial liabilitles
Financial liabilities are derecognised when the cha rity's contractual obl igations expi re 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 basi5. 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 2024
NOTES TO THE ACCOUNTS (continued)
2 Income from Donations and Le
acies
2024
2023
Unrestricted Restrirted
Funds
Funds
Note
TOTAL
TOTAL
Bannside Stitchers
BIG Splash
CHIP
Community Centre Income
Green Group
Mid&East Antrim
People in Community
Grant Release
Summer Scheme
Totals 2024
795
1,956
350
5,477
1,401
6,709
78,216
84,340
8,716
187,960
4,262
9,476
4,262
9,476
15,931
15,931
1,500
1,500
14
80,341
22,482
116,561
80,341
22,482
133,992
17,431
Totals 2023
2,197
185,764
187,960
3 Income from Charltable Actlvities
2024
2023
Unrestricted Restricted
Funds
Funds
TOTAL
TOTAL
Rental Income
Donations
Awards and Grants
General Fund
Totals 2024
31,570
43,872
3,000
6,396
84,838
31,570
43,872
3,000
6,396
84,838
19,486
10,707
14,525
14,539
59,258
Totals 2023
59,258
59,258
16

PORTGLENONE ENTERPRISE GROUP LIMITED
(Private company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
NOTES TO THE ACCOUNTS (CONTINUED)
4 Staff Costs and Numbers
2024
2023
Gross Wages and Salaries
27,901
27,901
22,640
22,640
No employee received emoluments of more than £60,000 {2023:Nil)
The average monthly number of employees during the year, calculated on the basis of full time
equivalents, was as follows:
2024
Number
2023
Number
5 Ex
enditure
2024
2023
Charitable Activities
Unrestricted Restricted
Funds
Funds
TOTAL
TOTAL
Bank Charges
Community Centre Expenses
Depreciation
Donations
General expenses
Heat & Lighting
Insurance Expense
Off ice Expense
Payroll Expenses
Professional Fees
Programme Costs
Rent and Rates
Repairs and Maintenance
Telephone
Travel
UCIT Loan Interest Charged
Total 2024
301
301
307
77,270
61,387
1,996
7,823
7,602
5,436
1,951
22,640
2,330
25,294
334
11,173
2,367
93,218
6,334
661
93,218
6,534
8,446
9,245
3,930
1,129
27,901
14,571
34,386
653
14,930
1,109
128
200
7,785
9,245
3,930
1,129
3,901
14,571
7,614
653
14,930
1,109
128
24,000
26,772
767
228,678
65,497
150,984
216,481
Total 2023
63,971
164,707
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 2024
NOTES TO THE ACCOUNTS (CONTINUED)
6 Trustees remuneration & expenses
During the year, no Trustees received any remuneration {2023 - £NILI.
During the year, no Trustees received any benefits in kind12023 £NIL).
During the year, no Trustees received any reimbursement of expenses (2023 - £NIL}.
7 Debtors
2024
2023
Grants Receivable
Prepayments
Other debtors
10,555
10,555
4,115
4,115
8 Creditors: amounts fallin
due within one
ear
2024
2023
Accruals & Deferred Income
Other Creditors
Grants Held
1,920
158
3,279
5,358
1,920
884
3,279
6,084
9 Tan
ible Fixed Assets
Land &
Buildin
Bank
F&F&
ui
Total
COST
At l July 2023
Additions
Disposa Is
At 30 June 2024
DEPRECIATION
At l July 2023
Charge for the year
Eliminated on disposal
At 30 June 2024
NET BOOKVALUE
At beginning of period
At 30 June 2024
440,000
443,141
31,405
914,546
440.000
443,141
31,405
914,546
265,864
88,628
26,815
4,589
292,679
93,218
354,492
31,405
385,897
440,000
440,000
177,277
88,649
4,589
621,867
528,649
18

PORTGLENONE ENTERPRISE GROUP LIMITED
IPrivate company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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 {2023 - £1,200)
11 Related
transactions
There were no related party transactions during the year.
12 Statement of funds - current
ear
Balance at
ljuly
2023
Balance at
30 June
2024
Income
Expenditure
Transfer
in/out
Restricted funds
BIG Splash
CHIP
5,303
1,502
9,170
11,490
11,460
4,209
17,433
431,712
6,886
499,164
4,262
9,476
13,2101
{3,9181
{9,1701
6,355
7,061
CIN
Community Centre Income
Awards & Grants
Mid&East Antrim
People in Community
Restricted Assets Gifted
Summer Scheme
Total restricted funds
111,490}
{11,4601
14,2091
{17,433}
193,218}
18,367)
(150,984) {11,490)
80,341
22,482
116,561
418,835
21,001
453,251
Unrestricted funds
Rental Income
Donations
General funds
Total Unrestricted funds
52,231
52,231
102,269
102,269
{65,4971
(65,497)
11,490
11,490
100,493
100,493
Total of funds- current year
551,395
218,829
1216,481)
553,743
19

PORTGLENONE ENTERPRISE GROUP LIMITED
IPrivate company limited by guarantee without share capital)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
13 Statement of fund -
rior
ear
Balance at
ljuly
2021
Transfer
in/out
Balance at
30 June
2023
Income
Expenditure
Total unrestricted funds
Total restricted funds
Total of funds - prior year
52,642
480,213
532.854
57,124
190,094
247,218
163,971)
6,437
1164,7071 16,4361
(228,678)
52,231
499,164
551,394
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 and10ss 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.
2024
2023
Long Term Liabilities
Government Grant for New Build
Additions
Grant Released
Balance c/f
80,341
164,681
80,341
84,340
80,341
Government Grants
Government Grants
Balance c/f
80,340
80,340
15 Loan Re
able
2024
2023
Loans Brought Forward
Additions- BBL Loan
Payments made
Balance c/f
66,177
82,154
16,221
49,955
15,977
66,177
Loanss: amounts falling due within one year
Loans.. amounts falling due more than one year
Balance c/f
16,221
33,734
49,955
15,977
50,199
66,177
20