**COMPANY REGISTRATION NO: NI032598 Charity registered number: NIC100257** ## **PORTGLENONE ENTERPRISE GROUP LIMITED** **(Private company limited by guarantee without share capital)** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025** **Tony Clarke** 53 Andersonstown Road Belfast BT11 9AG ## **PORTGLENONE ENTERPRISE GROUP LIMITED** |**CONTENTS**|**PAGE**| |---|---| |Reference and administrative details of the charity, its trustees and|| |advisers|1| |Annual Report of the Trustees|2-7| |Independent Examiner Report|8-9| |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 2025 ## **STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT** |**Note**
2
Charitable Activities
3
5
**Reconciliation of Funds**
**Total funds brought forward**
**Net income / (expenditure)**
**Transfers between funds**
**Net movement in funds**
**Total Funds carried forward**
**Expenditure on:**
Charitable Activities
**Total Expenditure:**
**Income from:**
**Total Income**
Donations and Legacies|**Year to**
**Year to**
**Unrestricted**
**Restricted**
**30-Jun-25**
**30-Jun-24**
**Funds**
**Funds**
**TOTAL**
**TOTAL**
**£**
**£**
**£**
**£**
18,344
171,560
189,904
**177,864**
98,048
-
98,048
**40,966**
-
**-**
**116,392**
**171,560**
**287,952**
**218,829**
148,891
212,920
361,811
**216,481**
**148,891**
**212,920**
**361,811**
**216,481**
(32,499)
(41,359)
(73,858)
**2,349**
**-**
**-**
**-**
**-**
(32,499)
(41,359)
(73,858)
**2,349**
100,493
453,251
553,743
**551,394**
**67,994**
**411,892**
**479,886**
**553,743**| |---|---| 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** (Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 |**Note**
**9**
Debtors
**7**
20,090
149,101
**169,191**
**Liabilities**
**8**
(14,637)
Government Grants
**14**
-
**(14,637)**
**Long-term Liabilities**
Loans Falling due:amounts falling due more than one year
**15**
**Funds**
Restricted
Unrestricted
**TOTAL FUNDS**
**12**
**Total Assets Less Current (Liabilities)**
**Fixed Assets**
Creditors
Cash at bank
**Current Assets**
Fixed Assets
**Net assets**
**BALANCE SHEET**
**As at 30 June 2025**
**Net Assets**|**Note**
**9**
Debtors
**7**
20,090
149,101
**169,191**
**Liabilities**
**8**
(14,637)
Government Grants
**14**
-
**(14,637)**
**Long-term Liabilities**
Loans Falling due:amounts falling due more than one year
**15**
**Funds**
Restricted
Unrestricted
**TOTAL FUNDS**
**12**
**Total Assets Less Current (Liabilities)**
**Fixed Assets**
Creditors
Cash at bank
**Current Assets**
Fixed Assets
**Net assets**
**BALANCE SHEET**
**As at 30 June 2025**
**Net Assets**|**2025**
**£**
470,410
**470,410**
10,555
69,851
**80,406**
(21,579)
-
**(21,579)**
**154,554**
**624,964**
(145,080)
**479,886**
**411,892**
**67,994**
**479,886**|**2024**
**£**
528,649|**2024**| |---|---|---|---|---| ||||**528,649**
**58,827**|| ||**169,191**
(14,637)
-|||| ||**(14,637)**|||| |||||| ||||**587,476**|| ||||(33,734)|| ||||**553,743**|| ||||**453,250**
**100,493**|| ||||**553,743**|| 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 2025. 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 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ## **BALANCE SHEET Cont…** ## **As at 30 June 2025** 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 16/01/2026 and were signed on their behalf by: Kieran Adams Date: 16/01/2026 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 2025 ## **NOTES TO THE ACCOUNTS** ## **1 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 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 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** (Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ## **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 sales related taxes. ## **1.5 Resources expended** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation 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 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: Fixtures and Fittings 20% 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 'Other 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 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 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 2025 ## **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 financial liabilities, including creditors and 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 financial liabilities** Financial liabilities are derecognised when the charity's contractual 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 2025 ## **NOTES TO THE ACCOUNTS (continued)** |**2 **
**3 **|**Income from Donations and Legacies**
**Note**
BIG Splash
CHIP
Community Centre Income
National Lottery
Mid&East Antrim
Grant Release
14
Summer Scheme
**Totals 2025**
**Totals 2024**
**Income from Charitable Activities**
Rental Income
Donations
Awards and Grants
General Fund
**Totals 2025**
**Totals 2024**|**2025**
**Unrestricted**
**Restricted**
**Funds**
**Funds**
**TOTAL**
£
£
**£**
-
6,585
6,585
-
9,101
9,101
12,895
37,500
50,395
-
110,865
110,865
-
-
-
-
-
-
-
7,510
7,510
**12,895**
**171,560**
**184,455**
**17,431**
**116,561**
**133,992**
**2025**
**Unrestricted**
**Restricted**
**Funds**
**Funds**
**TOTAL**
£
£
**£**
43,293
-
43,293
5,449
-
5,449
1,658
-
1,658
53,097
-
53,097
**103,497**
**-**
**103,497**
**84,838**
**-**
**84,838**|**2024**| |---|---|---|---| ||||**TOTAL**
£
4,262
9,476
15,931
-
1,500
80,341
22,482| ||||**133,992**| ||||**2024**| ||||**TOTAL**
£
31,570
43,872
3,000
6,396| ||||**84,838**| ||||| 16 ## **PORTGLENONE ENTERPRISE GROUP LIMITED** (Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ## **NOTES TO THE ACCOUNTS (CONTINUED)** |**4 **|**Staff Costs and Numbers**
Gross Wages and Salaries
No employee received emoluments of more than £60,000 (2024:Nil)|**2025**
**£**
**70,878**
**70,878**|2024
£
27,901|2024| |---|---|---|---|---| ||||**27,901**|| |||||| The average monthly number of employees during the year, calculated on the basis of full time equivalents, was as follows: |**Expenditure**
**Charitable Activities**
Bank Charges
Depreciation
Donations
General expenses
Heat & Lighting
Insurance Expense
Office Expense
Payroll Expenses
Professional Fees
Programme Costs
Rent and Rates
Repairs and Maintenance
Telephone
Travel
**Total 2025**
**Total 2024**||**2025**
**Number**
**4**
**2025**
**TOTAL**
**£**
317
93,238
105
1,839
16,785
4,325
10,498
70,878
27,360
76,708
1,594
57,910
253
-
**361,811**
**196,850**|2024
Number| |---|---|---|---| ||||2| ||||**2024**| ||**Unrestricted**
**Restricted**
**Funds**
**Funds**
£
£
317
-
-
93,238
105
-
1,344
495
16,785
-
4,325
-
7,504
2,994
23,558
47,320
27,360
-
7,946
68,762
1,484
110
57,910
-
253
-
-
-||**TOTAL**
£
301
93,218
6,534
8,446
9,245
3,930
1,129
27,901
14,571
34,386
653
14,930
1,109
128| ||**148,891**
**212,920**||**216,481**| ||||| ||**65,497**
**150,984**||| **5 Expenditure** 17 ## **PORTGLENONE ENTERPRISE GROUP LIMITED** (Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ## **NOTES TO THE ACCOUNTS (CONTINUED)** ## **6 Trustees remuneration & expenses** During the year, no Trustees received any remuneration (2024 - £NIL). During the year, no Trustees received any benefits in kind (2024 - £NIL). During the year, no Trustees received any reimbursement of expenses (2024 - £NIL). ## **7 Debtors** |**8 **
**9 **|Grants Receivable
Prepayments
Other debtors
**Creditors: amounts falling due within one year**
Accruals & Deferred Income
Other Creditors
Grants Held
**Tangible Fixed Assets**
Land &
Buildings
**COST**
£
440,000
Additions
35,000
Disposals
-
**475,000**
**DEPRECIATION**
-
-
-
-
**NET BOOK VALUE**
At beginning of period
475,000
**475,000**
Eliminated on disposal
**At 30 June 2025**
Charge for the year
**At 30 June 2025**
At 1 July 2024
**At 30 June 2025**
At 1 July 2024|Grants Receivable
Prepayments
Other debtors
**Creditors: amounts falling due within one year**
Accruals & Deferred Income
Other Creditors
Grants Held
**Tangible Fixed Assets**
Land &
Buildings
**COST**
£
440,000
Additions
35,000
Disposals
-
**475,000**
**DEPRECIATION**
-
-
-
-
**NET BOOK VALUE**
At beginning of period
475,000
**475,000**
Eliminated on disposal
**At 30 June 2025**
Charge for the year
**At 30 June 2025**
At 1 July 2024
**At 30 June 2025**
At 1 July 2024|Bank
Project
£
443,141
-
-|**2025**
**£**
**-**
**-**
**20,090**
**20,090**
**2025**
**£**
**1,920**
**-**
**3,279**
**5,199**
F&F &
Equipment
£
31,405
-
-
**31,405**
31,405
4,589
-
**35,994**
-
-|2024
£
-
-
4,115|2024
£
-
-
4,115| |---|---|---|---|---|---|---| ||||||**4,115**|| ||||||2024
£
1,920
884
3,279|| ||
Accruals & Deferred Income
Other Creditors
Grants Held
**Tangible Fixed Assets**
**COST**
Additions
Disposals
**DEPRECIATION**
**NET BOOK VALUE**
At beginning of period
Eliminated on disposal
**At 30 June 2025**
Charge for the year
**At 30 June 2025**
At 1 July 2024
**At 30 June 2025**
At 1 July 2024|||||| ||||||**6,084**|| ||||||**£**
**914,546**
**35,000**
**-**
**Total**|**Total**| |||**475,000**|**443,141**||**949,546**|| |||-
-
-|354,492
88,649
-||385,897
93,238
-|| |||-|**443,141**||**479,135**|| |||475,000|88,649||**563,649**|| |||**475,000**|-||**470,410**|| 18 ## **PORTGLENONE ENTERPRISE GROUP LIMITED** (Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS ## FOR THE YEAR ENDED 30 JUNE 2025 ## **NOTES TO THE ACCOUNTS (continued)** ## **10 Independent examiner's remuneration** The independent Examiner's remuneration amounts to an Independent Examination fee of £1,500 (2024 - £1,200) ## **11 Related party transactions** There were no related party transactions during the year. ## **12 Statement of funds - current year** |**Restricted funds**
Big Splash
CHIP
Summer Scheme
Community Centre Income
PCP Lottery
Restricted Assets Gifted
**Total restricted funds**
**Unrestricted funds**
General funds
**Total of funds - current year**
**Total Unrestricted funds**|Balance at
1 July
2024
Income
Expenditure
Transfer
in/out
**Balance at**
**30 June**
**2025**| |---|---| ||£
£
£
£
**£**
6,355
6,585
(7,551)
-
**5,388**
7,061
9,101
(6,072)
-
**10,089**
21,001
7,510
(13,879)
-
**14,632**
-
37,500
(6,261)
-
**31,239**
-
110,865
(85,918)
-
**24,948**
418,835
-
(93,238)
-
**325,597**| ||**453,251**
**171,560**
**(212,920)**
-
**411,892**
-
**100,493**
116,392
(148,891)
-
**67,994**| ||**100,493**
**116,392**
**(148,891)**
-
**67,994**| ||**553,744**
**287,952**
**(361,811)**
**-**
**479,886**| 19 ## **PORTGLENONE ENTERPRISE GROUP LIMITED** (Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ## **13 Statement of fund - prior year** |**Total of funds - prior year**
Total unrestricted funds
Total restricted funds|Balance at
1 July
2023
Income
Expenditure
Transfer
in/out
**Balance at**
**30 June**
**2024**| |---|---| ||52,231
102,269
(65,497)
11,490
**100,493**
499,164
116,561
(150,984)
(11,490)
**453,251**| ||**551,394**
**218,830**
**(216,481)**
**-**
**553,743**| ## **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. |**15 **|**Long Term Liabilities**
Government Grant for New Build
Additions
Grant Released
Balance c/f
Government Grants
Government Grants
**Balance c/f**
**Loan Repayable**
Loans Brought Forward
Additions - Car Park
Payments made
Balance c/f
Loanss: amounts falling due within one year
Loans: amounts falling due more than one year
**Balance c/f**||**2025**
2024
£
£
-
80,341
-
-
-
80,341|2024| |---|---|---|---|---| ||||**-**
**-**|| ||||-
80,340
-
-|| ||||**-**
**80,340**|| |||**2025**
**2024**
£
£
49,955
66,177
114,000
-
9,438
16,221||**2024**| |||**154,517**
**49,955**||| |||9,438
16,221
145,080
33,734||| |||**154,517**
**49,955**||| 20