Company Reglstration Numb•r. N1028840
HMRC Charlty Number: 916m878
CCNI Re91stration Number: 100270
Mayfalr Buslness Centre Ltd
(A company Ilmlted by guarantee)
Report and Flnanclal Stat•ments
for the year ended 30 September 2023

Mayfair Buslnqss Centre Llrnlted
(A company tlmlted by guarantee)
CONTENTS
Page
Reference and administrative detsils of the chanty, its trustees and advisers
Trustées, report
Dir•ctOTS' Report
Independent auditors, report
Statement of financlal actirftles
Balance sheet
13
Cash Flow Ststement
14
Notos to financial ststements
15-24

Mayfair Business Centre Limlted
(A company limlted by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Trustees and Company Dlrectors
K Twyble
B Lindsay
JP Hagan
G McKeown
C Whiteside
P Kelly
Cllr P Duffy
C Mercer
C Tennyson
Company r•glst•r•d numb•r
Nl 028840
Charlty reglstered number
100270
Inland Revenue Charlty Number
916ff7878
Reglstered offl¢e
193-205 Garvaghy Road
Portadown
Co. Armagh
BT62 IHA
Northern Ireland
Audltors
FPM Accountants Limited
Chartered Accountants and Statutory Auditors
Dromalane Mill
The Quays
Newry
Co. Down
BT35 8QS
Northern Ireland
Bankers
Bank of Ireland
43 High Street
Portadown
BT62 IHY

Mayfair Buslne55 Centre Limlted
(A company Ilmlted by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Solldtors
JPH Law Ltd
17 Church Street
Portadown
BT62 3LN
Company secretary
B Mac Cionnaith
CEO
B Mac Cionnaith

Mayfair Businoss Céntre Llmlted
(A company limlted by guarantee)
TRUSTEES, REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The TTUStees (tho are also di￿ttor5 of the charity for the purposes of the Companies Act 2006) present
their annual report together with the audited financial statements of Mayfair 8usines5 Centre Limited
for the year ended 30 September 2023.
The Directors confirm that the Annual report and financial statements of the company comply with the
Charities Act INI) 2008, the Companies Act 2006, the Memorandum and ArtLcle5 of Association, and
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities
p￿par￿g their accounts in accordance with the Financial Reporting Standard applicable in the UK
Charities SORP (FRS 102)).
Structure. governance and managem•nt
Cpnstltutlon
The company is registered as a charitable company Ilmited by guarantee (NI 028840) and was set up
by a Memorandum of Associatlon on 6 October 1994 as ma￿alr Business Centre Limited.
The company is constLtuted under a Memorandum of Association dated 6 October 1994 and became a
registered charity on 25 June 2014 (Northern Ireland Charity Number NIC 100270), having previously
been granted charitable status for tax purposes by HMRC.
Nethod of appolntment of •LertLon of Dlrectors
The Directors are appointed annually by the members of the Cornpany at an Annual General Meeting.
Any Director so appointed shall hold office until the next following Annual General Meeting and shall
then be eLigibte for re-election, The Directors have the power at any time and from time to time to
appoint any person to be a Director, either to fill a casual vacancy or as an addition to the existing
Directors.
Unless otherwlse determined by the Company in the General Meeting, the number of Oirectors shall
not be more than 5iXteen nor less than flve.
Organlsatlonal structure and dectslon makln9
None of the Directors have any beneficial interest in the company. All of the directors are members of
the company and guarantee to contribute £1 in the event of a wlndlng up.
Dectslons at General Meetings shall be made by passing resolutlons. Decisions involving an alteratlon
of the Memorandum and Articles of Association of the Company and other decisions so required by
statute shall be made by speci81 resolulion. A special re501ution is one pa55ed by a majority of not less
than three-fourths of members present and voting at • General Meetlng.
All other decisions shall be made by ordinary resolution requiring a simple majority of members present
and votlng.
Rlsk management
The Dtrector5 hdve assessed the major risks to which the company is exposed, in particular those related
to the operations and finances of the company and are satisfied that Systems and procedures are in
place to mitigate our exposure to the major risks.
Ltquldlty Rlsk
The company contlnue5 to ensure that it has sUffic￿nt available funds for operations and planned
maintenance work
Interest Rate/Cash Flow Risk
During the year, the company did not acquire any new long term interest bearing liabilities.

Mayfair Business Contr• Limited
(A company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDÉD 30 SEPTEMBER 2023
Mayfair Business Centre Limited produces financial management report5 which highllght the key areas
that need to be monitored to minimise risk. Thesè reports are presented at the company's regular board
meetings.
The company has assessed the major risks to which the charity is exposed, in particular those ￿lated to
the operations and finances of the company and is sat(sfied that systems are in place to mitigate any
exposure to major iisks.
Actlvlties and achievements of current year
Charltable Objects
Mayfair Business Centre Limited Is committed to encouraging and assisting business enterprise in the
Portadown area for the benefit of the local economy. Mayfair Bustness Centre Limited was established
in 1994 to assist in the social and economic regeneration within the Portadown area of Craigavon. The
company seeks to cultivate a spirit of entrepreneurship and is pro-acttve in providing help and guidance
and in seeking to attract investment in order to stimulate local enterprise developmenL The main area5
In which Mayfair Bu5ine55 Centre Limited are involved with include:
Enterprise development including mentoring and small buslness (nitiatlves;
Workspace provision and property management;
Infrastructural improvement; and
Community developmenL
Strategic Oulcothes
Mayfair Business Centre Limited previously reviewed and updated its Strateg(c Plan in whtch it sets out
how the organisation will achieve the following strategic outcome:
the promotion for the public benefit of urban regeneration in the Portadown sector of
Craigavon and its environs (the 'area of benefit"), being an area of social and economic
deprivation, by all or any of the following means:
o the relief of poverty In such ways as may be thought fil..
the relief ol unemployment in such ways as may be thought flc Including asslstance to
find employmenc
o the advancement of educatlon, training or retraining, particularly among unemployed
people, and providing unemployed people with work Èxperience;
the proVis￿n of financial assistance, technical assistance or business advice or
consultancy in order to provide training and employment opportunities tor
unemployed people in cases of financial or other charitable need through help: (i) in
setting up their own business, or (li) to existing businesses," and
o the creation of training and employment opportunitie5 by the proV￿10n of workspace,
buildtngs and/or land for use on favourable temis.
Achhvemonts and p•rlormanc•
Investment income of £141K (2022: £130K) was generated for the year ended 30 Septernber 2023. A
summary of Mayfair Business Centre Limited's achievements during the year are set out in the Annual
Review 2023 which is due to be presented to the members at Mayfair's AGM. At the annual revlew, the
financial ststements will be approved by the Directors.
Buslnets Operation5
The main activities of the company remain unchanged and are set out in our mission ststement and
objectives.

Mayfair Buslness Centre Llmited
(A company limitsd by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
These include the promotion of business development and the creation of eMplo￿nent opportuntties
to businesse5 and persons, including the unemployed. and the letting of office, servlce and indusfrial
Units.
The business operations carrled on by our tenants cover a wide range of activittes and serrfices. These
include a charltable business operating 2 shops and associated 'upcycling' actlVLtie5; food (rneat)
preparation; specialist bakery; a mini-call cerbtre,. fitness centre,, solicitorfs offKe,' beautician,. tratning and
education Company,. security sector company, hairdre55er, financial seNices, physiotherapi5C migrant
support e4 advice setvices,. ESOL centre,. Portuguese Consular Office; horticulturalist carpet suppliers,. St
John's Ambulance seNice; schoot of music; automotive repair, Thai food restsurant,. cabinet-makers;
and a hospitalty promotions business.
The continued presence of the Clanrye Group within Mayfalr Business Centre, has ensured the delivery
of a comprehensive range of on-site high-quat(ty programmes and ser4ices, Including Training and
Qualifications. Health and Wellbeing services and Employment programmes to restdents from across
the Portadown and wider CraL9avon area.
An agreement to let office unit I from October 2023, albeit for a period of several months, has enabled
the Mayfair Business Centre to reach 100% occupancy.
Although under threat of closure in early 2023, due to the ending of EU funding streams, the Clanrye
Group was able to successfully secure altemative, replacement fundin9 from government.
The Business Centre continues to retaln hand sanitislng statlons and protectlve screens In situ and
5aniti5Lng materials are renewed as required. This is primarily to provide reassurance to all users of, and
vis¢tors lo, the Business Centre.
Due to increased footfall and visitors to the Business Centre a number of additional CCTV cameras were
installed to provide additional security tn October 2023. A new secure entry system for the centre's maln
entrance/reception area is due io be Installed early in February 2024.
During the year, Mayfalr 8uslness Centre asslsted a number of local organ(sations including a local
secondary school to contlnue the delivery of a health and well-being programme for pupils.
The Business Centre has also agreed to facilitate a local sprots club locate two storage unlts on unused
ground at the rear of our site in orderto store sports equipment while their own facilitie5 undergo major
development.
In keeping with the company'5 charitable objectives, the Business Centre continued to work with other
community-based organisations and statutory bodie5 acro55 the Portadown and wider Armagh,
Banbridge & Craigavon counc(l area.
OveralL the Board of Mayfair Business Centre Ltd continues to make a positive contribution to local
enterprise, buslness development education and community deveLopmÈnl during the course of the
year.
Occupancy
As previously mentioned, the agreement to let Office Unit l from October 2023 enabled the Business
Centre to reach a major milestone by reachtng 100% occupancy for the first time.
Previously, our total property base performed welL over the last year with consistently high occupancy
levels within both the offLce Space and industrial units.
OveralL the occupancy leve15 across the site continue to demonstrate both the quality of our facltLties
and the desirability of Mayfair Busine55 Centre as a preferred business location.

Mayfalr Buslness C@ntr@ Llmlted
(A company Ilmited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Sustslnabulty
The Board has continued to fulfil many of its original objectives. To date, the business has been self-
supporting and had Tequired no assistance from external bodies in respect of staffLng or other revenue
costs.
Nevertheless, the dirertors are mlndful that the possibility of wid•r adverse economic conditions
globally could undoubtedly have an adverse °trickie-down" impact upon a number of our tenant
To date, we have been very fortunate that all of our on-site tenants have been able to continue to trade
and maintain their ernployment and customer levels, despite th￿e consecutive years of adverse trading
conditions. That In tur￿ has helped to maintain occupancy levels and the companls income
generating ab¢lities.
As in the pasc we will continue to work closely with any of our tenants who may be facing unforeseen
challenge5.
Futurn Plans
The Directors are agreed that they will continue to prornote Mayfalr Business Centre as an ideal location
for new and expandtng companies.
The Directors are aEso committed to driving the company forward by applying any Surplus received cn
property activities agalnst charitable objectives.
It was extremely disappointing to leam that the governmenys latest round of Levelling-up funLfLng was
confined only to those applicants which had successfully comp(eted capital build projects within
previou5 five year period.
WhiLe it had been intended to submit an appltcation to that funding stream in respect of the provision
of additional offKe and work spaces on our site, that criteria automatically excluded Mayfair Business
Centre and qulte a number of s¢milar projects.
Equally disappointing has been the contlnued absence of any new capltat funding streams within the
Department for Communities due to wider political issues, The Department has prevlously proven. and
continues to b•, very supportive of Mayfair Business Centre and other similar economic development
Initiatlves.
In the longer term, the Directors, and iheir slaff, are commltted to securing future investment wtth a
view to provtding additional office/serrfLce space on-SLte along with a5$0Ciated car-parking etc.
Golng Concern
At the time of approving the f￿ancial statements, the directors have a reasonabLe expectation that the
company has adequate resources to continue in operational existence for the foreseeable future. Thus,
the directors continue to adopt the going concern basis of accounting in preparing the financial
statements
nancial revl•w and reserves poli¢y
The results for the year are set out in the attached financial statements. The total funds held at the end
of the year are shown in the notes to the financial statements.

Mayfalr Busln•5s Centre Limlted
(A company Ilmlted by guarantee)
The directors are committed to driving the company foNard by applying any surplus received on
propety activities against objectives.
Unrestricted funds are essential to provide sUffLC￿nt tunds to cover any unforeseen costs which may
arise and futfil the legal obLigations of the Charity if current levels of income are not maintsined.
The reseryes policy has been deswJned to recognise Mayfair Business Centre's requirements lor reserves
considering the main rsks to the company. In formulating an assessment on the level of reserves
requi￿d the Business Centre h¥s considered the programmes and seNices that the centre pLans to
deliver in the period covered by the Strategic Plan.
It has established a policy whereby the unrestricted fund5 not committed should equate to 6 months.
total resources expended. The aim is to provide sufficient funds to cover any unforeseen costs which
may atise, recognise the volatile grant environment as well as auowing for the payment of any liabilities
which would arise should the cornpany cease to operate. The Trustees believe that thls level of reseNes
provides sufficient confidence that the company is a going concern and the accounts have been
p￿Pared on that basls.

Mayfair Business Centre Llmlted
(A company limlted by guarantee)
DIRECTORS. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Statement of DLrectors' responslbl(Itles
The Dlrectors are responsible for preparing the Direttor5' report and the financial statements in
accordance with applicable Law and United Klngdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
Company and charity law requ(res the Directors to prepare financial statements for each financial year
which give a true and fair view Df the state of affaits of the charitable company and of the incoming
resources and application of resource5, including the income and expenditure, of the charitable
company for that period. In preparing these financial statements, the Director5 are required to..
Select suitable accounting policies and then apply them conslstently,.
Observe the methods and princ(ples in the Chaiities SORP,.
Make estimates that are reasonable and Prudenc
Prepare the financiaL statements on the going concern basis unless Lt i5 inappropriate to
presume that the charitable company will continue in operatLOn.
The Directors are re5ponslble for keepln9 proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charitable cornpany and enable them lo ensure that
the flnancial statements comply with the Companies Act 2006. They are atso responsible for
safeguarding the assets of the charitable company and hence for tsking reasonable steps lor the
prevention and detection of fraud and other ifregularities.
Provlslon of Informatlon to audltors
Each of the person5 who are Directors at the time when this Directors, report is approved has confirmed
that:
So tar as the Directors are aware, there is no relevant audit information of which Ihe charitable
COMpan￿S auditors are unaware; and
The Director5 have taken all the steps that ought to have been taken as Directors in order to be
aware of any information needed by the charitable company's audltors in connection with
preparing their report and to establish that the charitable compan￿5 auditors are aware of that
infomiation,
The report of the Direttors has been prepared taking advantage of the small companies, exemption of
section 415A of the Companie5 Act 2006.
This report was approved by the Directors on the 19th June 2024 and SLgned on their behalf, ty.
B Mac Cionnaith
Company Secretary

MAYFAIR BUSINESS CENTRE LIMITED
(A company Ilmited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MAYFAIR BUSINESS CENTRE LIMITED
Oplnlon
We hwe audited the financial statement5 of Mayfair Buslness Centre Limlted for the year ended 30 September 2023
wh(ch cornprise the Statement of Financial ActiVLties (Incorporating the Income and Expenditure Account), the Balance
Sheet, Cash Flow Staternent, the Accounting Policies and the related notes. The fLnancial reporting framework that ha5
been applied in thelr preparatlon (s applicable law and United Klngdom Accounting Standards (United Kingdom
Generally Accepted Accounting Prartice).
In our opinion the financial 5tatements',
give a true and fair view ofthe companvs affairs as at 30 September 2D23 and of its income forthe year then ended.,
have been properly prepared in accordance with United Klngdom Generally Accepted Accountin9 Practlce,. and
have been prepared in accordance with Ihe requirements of the Companies Act 2006.
BasLs lor oplnlon
We conducted our audit in accordance with Inlematlonal Standards on Auditing (U K) IISAS IUKI} and applicable law.
Our responsibilitie5 under those standards are further descrlbed in the Auditor's responsibillties for the audit of the
accounts section of our report We are Independent of the company in accordance with the ethical requirements that
are relevant to our audit of the accounts in the UL includ¢ng the FRC'S Ethical Standard. and we have fulfilled our other
ethical responsibiltties in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Con¢lvstons relatlng to gotng concern
In auditing the fLnancial statements. we have concluded that the dirertors, use of the going concem basis of accounting
In the preparation of the financial statements is appropriate.
Based on the work we have perfomed, we have not identified any materiaL uncertainties relatlng to events or condltions
that individually or coLiectively, may cast significant doubt on the companl5 ability to continue as a going concern for
period of at least twelve months from when the financial statements are authorised for issue.
Our responsibillties and the responsibilitie5 of the director5 With respert to going concern are described In the relevant
sections of this report,

MAYFAIR BUSINESS CENTRE LIMITED
(A conipany Umited by guarant99)
INDEP¢NDENT AUDITORS. REPORT TO THE MEMBERS OF MAYFAIR BUSINESS CENTRE LIMITED
Other informatlon
The other information comprises the information included in the annual report other than the financial statements and
our audLtols report thereon. The directors are responsible for the other information contained within the annual report.
Our opinion on the financlal statement5 does not cover the other information and. except to the extent otherwise
explicitly stated in our repo¢ we do not express any fonn of assurance conclusion thereon, Our responsibility is to read
the other information and, in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained In the course of the audit, or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material mi55tatements, we are required to determine
whether this gives rise to a materiaL misstatement in the financial ststements themselves. If, based on the work we have
pertormed, we conclude that there is a material misstatement of this Other information, we are required to report that
facL
We have nothlng to report Ln thts regard.
Oplnlong on oth•r matt•r8 pr•scrlb•d by th• C•mpanl•s Act 2006
In our opinion, baséd on the work undertaken in the course of our audit:
the infomation given in the directors, report for the financial year for which the financtal statements are
prepared is consistent WLth the financial statements; and
the directors, report has been prepared in accordance with applicable legal requlrement
Matters on which we are requlred to report by exceptlon
In the Light of the knowledge and understanding of the company and its environment obtained in the course of the
aud(t we have not identifLed material m(sstatements in the directors, report. We have nothing to report In respect of
the following matters in relation to which the Charities {Account5 and Reports) ReguLatlons 2008 require us to report to
you if, in our opinion..
adequate accounting records have not been kepL or returns adequate for our audit have not been received
from branches not vlslted by us," or
the financial statements are not in agreement with the accounting record5 and returns; or
certain dbclosures of dlrectors, remuneralion specified by taw are not made,. or
we have not received all the information and explanations we require for our audit.
Statèment Df Dlrertors, responslbulties
As explalned more fully in the directors, responsibililies statement, the trustees. who are also the directors of the for the
puipose of company law, are responsible for the preparation of the accounts and for being satisfied that they give
true and fair view, and for such internal control as the directors determine is necessary to enable the pieparation of
accounts that are free from materiaL misstatemen¢ whether due to fraud or erior.
io

MAYFAIR BUSINESS CENTRE LIMITED
(A coffwany Itmlted by guarantw)
INDEp£MDENT AUDITORS, REPORT TO THE MEMBERS OF MAYFAIR BUSINESS CENTRE LIMITED
In preparing the account5, they are respDnsible for assesslng the company's ability to continue a5 a going concern,
disclosing, as applicable, matters related to going concern and using the going concem basi5 of accounting unless they
either intend to liquidate the company or to cease operations, or have no realisttc alternative but to do so.
Audlt(pf's responslbllLtles for th• audlt ot the financiaL stat•m•nts
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material
misstatemenc whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable
assuran(e is a high level of assurance but is not a guarantee that an aud(t conducted in accordance with ISAS {UK) MII
always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of
users taken on the basis of these accounts.
Irregularltles. Includlng fraud, are instances of non-compliance with laws and regulatlons. WÉ design procedures in line
with our responslbillties, outlined above, to detect material mLsstatements in respect of irregularities, including fraud.
The extent to which ¢ur procedures are capable of detecting Irregularities, includlng fraud, is detailed below.
We obtalned an understanding of the legal and regulatory framework applicable to the company through enqulry of
management, industry research and the application of cumulative audit knowledge. We identifled the following prlncipal
laws and regulations relevant to the company- Companies Act 2006 and the Flnanciol Reporting Standard applicable
in the UK and Republic of Ireland IFRS 102).
We developed an understanding of the key Iraud risks to the entity (including how fraud might occur). the corbtroLs in
place to help mitigate those r(sks, and the accounts, balances and disclosures within the financlal staternents which may
be susceptible to management bias. Our understanding was obtained through review of the financial statements for
significant accounting estimates, analysis of journal entries, walkthrough of the key controls cycles in place and enqulry
of management.
Our procedure5 to respond to those risks (dentif￿d Include4 bLrt were not Ilmlted to:
Enquiry of management, those char9ed wlth governance and the entity's solicitors (or in-house legal team)
around actual and potential litigation and claims,
Enquiry of entity Staff in tax and VAT functions to identlfy any instances of non-compliance w(th Laws and
regulations.
Reviewing minutes of meetings of those charged wllh govemance.
Reviewing financial statement dLsclosures and testing to supporting documentation to a55ess compliance with
applicable laws and regulations.
A further description of our responsibilities for the audit of the account5 15 located on the Financial Reporting Council's
website at:
http../lw￿.ffc.0Y9.￿￿auditQrSreSpQnSibi1itIe& This description foryn5 Part of our auditor's report.
11

MAYFAIR BUSINESS CENTRE LIMITED
(A co￿PanY Elmltod by guarantee)
INDEPMDENT AUDITORS. REPORT TO THE MEMBERS OF MAYFAIR BUSINESS CENTRE LIMITED
The purpos• of our audit work and to whom we owe our rosponslbULtles
Thi5 report 15 made 501ely to the charitable company'5 members, as a body, in accordance with Chapter 3 of Part 16 of
the Cornpanies Act 2006 and regulations made under that ACL Our audit work ha5 been undertaken so that we might
state to the charitys trustees those matters we are required to state to them in an auditors, report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the
charity and the charitys trustees as a body, for o
udit work, for this repor¢ or for the opinion5 we have formed.
Fearyal Mccomiack (S•nlor Ststutory Audltor)
for and on behalf of
FPM Accountants Llmlt•d
Chartered Accountants and Statutory Auditors
Dromalane Mlll
The Quays
Newry
Co. Down
BT35 8QS
19th June 2024

MAYFAIR BUSINESS CENTRE LIMITED
STATEMENT OF FINANCIAL AcfiviTIES (Incorporntlng the Income and Expendlture Account)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Note
Restrl¢ted
fun(ts
2023
Unrnstricled
fund
2023
Total
funds
2023
Totsi
funds
2022
In¢orn• fn>n
Charttsble Activitie5
Investment Income
Totsl inGome
1,993
1,993
140.666
142 659
140,666
140.666
129.992
129 992
E￿IndItUr• on:
Char4tablg ActLVities
C05t of raising funds
Totsl exPendI￿ra
2,119
121,821
123.940
18.487
141427
110.703
21606
133 309
2.L19
140 308
Net Income / (dofl¢lt) •nd n•1
movement in funds for th• y•or
{126)
358
232
(3,31n
R•con¢llla¢ion of fun¢ts
Funds Broughl Forward
&280
1645 835
652,115
1,655,432
Totsl funds carriod lorward
1,646,193
L652 347
1,6S2 115
The Statement of Financial Activlties Lncludes all 9ains and105ses in the year and therefore a Statement
of Total Recognised Gains and Losses has not been prepared.
All incorne and expenditure derive from continuing actLVltie5.
The notes at pages 15 to 24 form part of these financial statements.
13

MAYFAIR BUSINESS CENTRE LIMITED
BALANCE SHEEr
AS AT 30 SE￿EllIBER 2023
Note
2023
2022
Tangible assets
1,554.642
¥573,065
Curr•nt x8s•ts
Debtors
Cash 8t b8nk and in hand
io
15,821
,1
63312
90,493
IIOA15
Cr•ditorJ: amounts fauing due ￿thin
one ytsr
710
443
Net current aM•ts
97.705
79,050
N•t AsJ•ts
347
L651115
Th• fvnds ol the ¢h•rfty
Restrkted fvr)d5
Unrestrlcted funds
154
L64&193
280
LfAI83S
Totol Charlty Fun
L6S2,347
L652 115
These financlal ststements are prepared In accordance wlth the speclal provisions in Part IS of the
Companles Act 2006 relatlng to small companles and constitute the annual accounts requtred by
Companles Act 2006 and are for clrculat1￿ to the members of the company.
The notes at pages 15 to 24 form part of these flnancial statemen
The financlal statements werè •pproved by the Directors and 8UthorLsed for issve on 19 June 2024 8nd
slgned on their behalf ty.
C MeKer
Diroct4X
K Tvrybl•
Director
Company Regbtration Number: N1028840
HMRC Chavlty Number: 916/r7878
CCNI Reg(stratlon Numb•r. 100270
14

MAYFAIR BUSINESS CENTrE LIMITED
CASH FLOW STATEMENT
AS AT 30 SEPTEMBER 2023
Notes
2023
2022
Cash Ilows from operndn9 adivltle*
Cash generated from operations
23
31282
6,178
N•t cath Inflow from ap•vatlThg •ciiviil•i
31282
4178
Inmtlng Actlvlties
Purchase of tsngLb￿ fLYed assets
Net Incr••ge In ¢•th •nd ¢Mh •qulval•nts
3L202
178
Cash and cash equlvalents at beginnlng of
63.312
57,134
Cmh •nd cash •4￿vIlents at •nd of year
94,594
312
R•l•tlng
Cash at bank and in ￿nd
94.594
63,312
15

MAYFAIR BUSINESS CENTRE UMITED
NOTES TO THE FINANCIAL STATEMÉNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Accountkng polkle5
Basi5 of preparatlon of Ilnanclal statements
The financial statements have been prepared in accordance with the Companies Act 2006 and
"Accounting and Reporting by Charitie5.' Statement of Recommended Practice applicable to
charIt￿S preparing their account5 in accordance with the Financial Reporting Standafd
applicable in the UK (FRS 102). las amended for accounttng periods comrnencing l January
2019). Thè charity is a Public BenéfLt Entity as defined by FRS 102.
The financlal statements ar• prepared in sterling, which is the funrtional currency of the charity.
Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Company status
The company is limited by guarantee and has no share capltaL The liabuity of the members Is
limited.
Every member of the company undertakes to contribute to the assets of the company in the
event of it being wound up while they are members or within one yearthereafter, Every member
of the company undertakes to contribute for the payment of the debts and liabilities of the
company contracted before they ceased to be members. Every member of the company
undertakes to contribute to the costs, charges and expenses of winding up and for the
adjustment of the rights of the contributors among themselves such amount as may be
required, not exceeding £1.
Fund accountlng
General funds are unrestricted funds which are available for use at the dwretion of the
Directors in furtherance of the general objeclives of the company and which have not been
designated for other purposes.
Designated funds comprlse unrestricted funds that have been set asidè by the Directors for
partiojlar purposes. The alm and use of each designated fund Is set out in the notes to the
linancial statements.
Restrtcted funds are funds which are to be used In accordance wlth specific restrictions Imposed
by funder5 which have been raised by the company for particular purposes. The cost of raising
and administering such funds are charged against the specific fund. The aim and use of each
restricted fund i5 set out in the notes to the financial statements.
Investment incomei gains and losses are allocated to the appropriate fund.
Incomlng r•sourc•5
All incoming resources are included in the Statement of Financial Activities when ali of the
following criteria are met..
The charity has entitlement to the fund5;
Any performance conditions ottached to the item(5) of income have been fully met or
are fully within the control of the charity,
There ts suffklent certainty that receipt of the income is considered probable," and
The amount can be measured reliably.
16

MAYFAIR BUSINESS CENTRE LIMITED
MOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
A¢counting pollcles (contlnued)
Income represents the total invoice value, excluding value added of rent received and
related services income during the year.
Grant income is recognised in the SOFA in the period in whlch it is receivable. Income is
deferred only when the charity has to fulfd condltions befo￿ becoming entitled to it or where
the donor/funder has specified that the income is to be expended In a future period.
Resources expended
Expenditure is recognised once there is a legal or constructive obligation to make a payment
to a third party, It is probable that settlement will be required and the amount of the obligation
can be measured rellably. Expenditure is classified under the following activity headings:
Expendilure on charitable activities indudes the costs of renting out the properties.
Other expenditure represents those item5 not falling into any other heading.
All expenditure is accounted for on an accNais basis and ha5 been incLuded under expense
categories that aggregate all costs for allocation to activities, Governance costs are those
incurred in connection with the compliance with constLtutional and statutory requirements. All
costs are allocated between the expenditure categories on a basis designed to reflect the use
of the resource. Costs relating to a particular activity are allocated directly, others are
apportlaned on an appropriate basis.
Op•ratlng leaw$
The charity classifles the lease of tèlephone equipment as operating lease,. the title of the
equipment remains with the Lessor and the equipment is replaced every S years. Rentsl charges
are charged on a straight-line basis over the term of the lease.
Tanglbl• fixed a$seti and depredatlon
Tangible r￿d assets are ststed at cost less deprec(ation. Depreciation is provided at rates
calculated to write off the cost of f￿ed assets, less their estimated residual vaLue, over their
expected useful lives on the following bases:
land & Buildings
Plant and Machinery
Fixtures, Fittings and Equipment
1% Reducing Balance
IO% Reducing Balance
IO% Reducing Balance
The carrying vaLues of tsngible f￿ed assets are reviewed for impairment when events or
changes in circumstances indicate the carrying value may not be recoverable.
Debtors
Trade and other debtors are reCOgn￿ed at the settlement amount due after any trade discount
offered. Prepayrnents are volued at the amount prepatd after takin9 account of any trade
discounts due.
17

MAYFAIR BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Accounting poL(¢les (¢ontlnued)
Cash at bank and In hand
Cash at bank and cash in hand includes all cash balances of the charity as at the balance sheet
date.
1.10 Creditors and provtsions
Creditors and provisions are recognised where the charity has a present obligation resultlng
from a past event that will probably result in the transfer of funds to a third party and the
amount due to settle the obligation can be measured or estimated reliably. Creditors and
provisions are normally recogniséd at their settlement amount after allowing for any trade
discounts due.
1.11 Taxatlon
Current tax represents the amount expected to be paid or received in respect of taxable income
for the year and is calculated using the tax rate5 and laws that have been enacted or
substantially enacted at the balance sheet date.
Deferred tax is recognised in respect of all tlmlng differences that have originated but not
reversed at the baLance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more tax in the future, or a right to pay less tax in Ihe future.
Timing differences are temporary differences between the companls tsxable income and its
result5 a5 Stated in the financial statements.
Defeffed tax is measured on an undi5counted basis at the tax rates that are anticipated to apply
in the periods in which the timing differences are expected to reverse, based on tsx rales and
taws that have been enacted or substantively enacted by the baLance sheet date.
1.12 Flnandal In￿ruments
The charity only has fLnancial assets and financial liabilities of a kind that qualify as baslc
finantial instruments. Basic financial Instruments are Initiauy recognlsed at transaction value
and subsequently rneasured at their settlement vaLue.
1.13 Golng Concern
At the time of approving the financi8l staternents. the directors have a reosonable expectation
that the company has adequate resource5 to continue in operational existence for the
foreseeable future, Thus, the directors continue to adopt the going concern basis of accounting
in preparing the financial statements.

MAYFAIR BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Income from charitable activltie5
Restri¢t•d
funds
2023
Unr•strl¢ted
fund
2023
Total
funds
2023
Tol•l
funds
2022
Grants Recetved
1,993
L993
Investm•nt Lncomg
Reslri¢ied
funds
2023
Unreitrlct•d
nd
202>
Total
funds
2023
Total
funds
2022
Rent81 Income
140,666
129,992
Dlrect charltable •xpendlture
R•sirld•d
funds
2023
Unrestrlcted
funds
2023
Total
funds
2023
Total
funds
2022
Wages and salaries
Social security costs
Staff pension costs
Rates
Cleaning
P£hver, light and heat
Insurance
Computer running costs
Travel
Charltable donations
Bank charges
Piinting and Stationery
Advertislng
Telephone
Sundry expenses
Depreciation
Governance costs tsee Note 51
55.865
3.053
1.580
3.756
4.083
9.798
7.963
L653
55
6,26D
369
723
250
L756
3,294
18.024
3.339
121.821
55.865
3.053
1.580
3.756
4.083
9.798
7.963
L653
55
6.260
369
723
250
1.756
5.014
18.423
3.339
123,940
52,845
2,375
676
1,744
5,085
7.788
7.177
997
59
3.485
395
657
1,7C
L078
18.911
5,675
110,703
1.720
399
2.119
19

MAYFAIR BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Gov•rnanc• Costs
Re5trkted
nth
2023
Unre5tr1ct•d
nds
2023
Total
funds
2023
Total
funds
2022
Legal and professional
Audit
500
1839
3.145
1530
1839
3,339
3.339
5,675
6. Cost of ralslng funds
R•strlrted
funds
2023
UnroJtrl£ted
funds
2023
Total
funds
2023
Total
lunds
2022
Investment management costs
18.487
18.487
22,606
18.487
18,487
22,606
Net Incom•
Thls Is stated after charging:
2023
2022
Depreciation of tsngible fixed •ssetr.
Owned by the charity
Audit Fees
18823
2.839
2L262
18,911
530
21,441
8. Staff costs
Staff costs were as follows:
2023
2022
Wages and satartes
Social security costs
Slaff pensions
55.865
3.053
L580
60A98
51845
1375
676
55,8%
20

14AYFAIR BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMEhrrs
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The average monthly number of employee5 durtng the year was as foltows..
2023
2022
Administration
No employee received remuneration amounting to more than £60,000 in elther year.
KÈY management personnel received the following remuneration:
2023
2021
Gross Salary
Employers NIC
Employers Pension Costs
55.865
3.053
LS80
60,498
51845
2,375
676
55,896
During the year the company paid an Insurance policy for director and offLce cover.
Tang(ble flxed assets
Land
Buudings
Plant and
Machlnery
Fixtur
Fltllngs &
Equlpment
Total
Cast
At l October 2022
Additions
0￿pOSal$
Z228,572
129.651
108,949
1467,172
At 30 September 2023
2,22&572
129,651
108.949
2A67,172
D•pr•clathD •nd Impalrnients
At l October 2022
Charge for the year
Eliminated on disposal
685A26
15,431
127,491
216
8L190
1776
894.107
18,423
At 30 September 2023
700.857
127,707
83.966
912.530
Net book value
At 30 September 2023
L527.71S
24.983
1554642
At 30 September 2022
L543,146
1160
27.759
L573.065
The property at 193-205 Garwaghy Road, Portadown was valued on 22 June 2011 by Michael Hannath
Estate Agents who is a member of the Royal Institution of Chartered Surveyor5 who revalued the
propety at open market value of £1.6m. The directors are satiSf￿d that there is no impairment in the
vaLu8 as stated in the financial 5tatsments.
21

MAYFAIR BUSINESS CEKfRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
D•btors
2023
2022
Trade debtors and accnjed income
Prepayments
15,289
532
15,821
24311
870
27,181
11.
Cr•dltors: Amounts falllng du• wlthln on• y•ar
2023
2022
Trade credltors
Taxation (Note 12)
Other creditors
Accruals
106
5,962
3,898
2.744
Il710
211
4,789
4,063
2,380
11,443
The fouowing is held as security as at 30 September 2023:
8ank of Ireland hold security over part of the lands of Ballyoran, Portadown known as Mayfair
Business Centre.
12.
Taxatlon
2023
2022
VAT
PAYE
4776
L186
4.789
Co￿OratIon Tax
The charity is exempt from tsx on Income and galns falllng within section SOS of the Taxe5 Act 1988 or
Section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its
charitabte objects.
22

MAYFAIR BUSINESS CENTRE UMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Analysls of charltable funds
BTh)ught
Forw•rd
Incom•
Exp•ndltUM
Net
Income /
(d•ficlt)
Carrl
Fonvard
Generalfvhds
General funds
Totsl Unrestr4Cted funds
L645,835
L64S835
140,666
140,666
140,308
140,308
358
358
L646.193
L646,193
R•strlctsd fvnds
Restricted funds
Total Restricted funds
6,280
6,280
L993
1,993
2,119
2,119
(126)
(126)
6,154
6,154
Total of funds
L652,115
142.659
141427
232
L652,347
IS. Analysls of net assets
Brought
Fon¥ard
Mo¥•mqnt
Carrl•d
Fornard
Tangtbie fixed assets
Debtors
Cash at bank and in hand
Creditors due withln one year
Tolal Unreslrkt•d funds
L573,065
27,181
63.312
111,443
1645,835
118.297)
(IL360)
31282
1,548,488
15,821
94.594
12,71
1646,193
358
TangIb￿ f¢xed assets
Total Rostrkt•d funds
6,280
126
126
6.154
16.
Golng Conc•rn Reviow
The companls busine55 actlvlties, together wlth the factors likely to affect its future development
performance and position are set out in the Trustees report on pages 3 to 6. The linancial position of
the company, its cash tlows, and liquidity position are described in the notes to the financial statements.
The company meets its day to day working capital requirements through rentsl incorne received. The
Companls forecasts and projections, taking account of reasonably possible changes in operating
performance show that the company will be able to operate wlthin its current facilities.
The directors are constantly reviewing new funding appllcations and have a reasonable expectation that
the company has adequate resources to continue In operation for the fcreseeable future. knordingly.
they conttnue to adopt the golng concern basis In preparing the annual report and financla15tatement&
23

MAYFAIR BUSINESS CENTrE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
17.
Related party trnnsactlons
During the year, Mayfair Business Centre Ltd acted a5 a guarantor for Drumcree Communty Trust.
Drumcree Community Trust was fomied in 1991 with the aim of addressin9 social and economic needs
Withtn the Northwest Portadown area which resulted in the establishment of Mayfair Business Centre
Limited. The Board of Mayfair Business Centre Limited is appointed annually by Drumcree Community
Tru5( its members, thereby ensuring accountability back to the local community.
During the year, Ma￿aIr Business Centre Limited donated £5,000 (2022 £3,000) to Drumcree
Community Trust
During the year, no Dlrectors received any remuneration (2022 - £nlL).
Durin9 the year, no Directors received any benefits In kind (2022 - £nil).
During the yéar, remuneration paid to officers of the company totsiied £30,914 (2022: £28,770) in salary
costs.
l& Op•ratlng l•as• ¢QMmltments
At the reporting end date, the company had no outstanding commitments for future minirnum lease
payment under non-cancellable operating lease5.
19.
Contro(
The board of directors are the ultimate controlling paty of the company.
20.
Flnanclal Commltm•nts
The cornpany had no financial commitments at the balance sheet date.
21.
Capltsl Cpmmltmonts
The company had no capital commitments at the balance sheet date.
22.
Contlngqnt UabUitl95
Ma￿aIr Business Centre Limited has a corrtingent liability to repay govemment grants if certaln
conditions are not met but in the opinion of the directors, these circumstances are unlikely to occur.
24

MAYFAIR BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
23.
Cash Generated from Operatlons
2023
2022
(Outgoing) / Incoming resources for the year
232
(3,3171
Adjustments for.
Depreaation of tangible f￿ed assets
18,423
18,911
Movernent of working capital:
Decrease in debtors
Increase in credito
11.360
1,267
{12,3011
2,885
Cash generated from operations
31.282
6.178
24.
Lknlted Llablltty Agreement
The directors, on behalf of the iompany, have entered into a Limited Liabillty Agreement w(th their
auditors dated 11 Apr412024. The auditors, liability is limited to an amount which is considered fair
and reasonable. Thls has been disclosed in line with companles legislation.
25