Company Registration Number: N1028840 HMRC Charity Numbèr.. 916tr7878 CCNI Registration Number: 100270 Mayfair Busine55 Centre Ltd (A company limited by guarantee) Report and Financial Statements for the year ended 30 September 2025 Mayfalr Business Centre Limited {A company limited by guarantee) CONTENTS Page Reference and administrative details of the charity. its tmstees and advisers Trustees, report Directors, Report Independent auditors. report 9-11 Statement of financial activities 12 Balance sheet 13 Cash Flow Statement 14 Notes to financial statements 15-23 Mayfair Business Centre Limited {A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Trustees and Company Directors K Twyble B Lindsay JP Hagan B G McKeown C Whiteside Cllr P Duffy C Mercer C Tennyson l Milne (Resigned 12 October 20251 C Murphy Company registered number Nl 028840 Charlty registered number 100270 Inland Revenue Charity Number 916Th7878 Registered office 193-205 Garvaghy Road Portadown Co. Armagh BT62 IHA Northern Ireland Auditors AAB Group Accountant5 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 Business Centre Lim4ted (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Solicitors JPH Law Ltd 17 Church Street Portadown BT62 3LN Company secretary B Nac Cionnaith CEO B Mac Cionnaith Mayfair Busine55 Centre Limited (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 The Trustees (who are also directors of the charity for the purposes of the Companies Act 20061 present their annual report together with the audited financial statements of Mayfair Business Centre Limited for the year ended 30 September 2025. The Directors confirm that the Annual report and Itnancial statements of the company comply with the Charities Act INI) 2008, the Companies Act 2006, the Memorandum and Articles ol Association, and Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Report(ng Standard applicable in the UK Charities SORP IFRS 10211. Structure. governance and management Constitutlon The company is registered as a charitable company limited by guarantee INI 02884013nd was set up by a Memorandum of Association on 6 October 1994 as MayFair Business Centre Limited. The company is constituted under a Memorandum of Association dated 6 October 1994 and became a registered charity on 25 June 2014 (Northern Ireland Charity Number NIC 1002701, having previously been granted charitable status for tax purposes by HMRC. Method of appointment of election of Directors The Directors are appointed annually by the members of the Company at an Annual General Meeting. Any Director so appointed shall hold office until the next following Annual General Meeting and shall then be eligible lor re-election. The Directors have the power at any time and from time to time to appoint any person to be a Director, either lo fill a casual vacancy or as an addition to the existing Directors. Unless oiherwise determined by the Company in the General Meeting. the number of Directors shall not be more than siKteen nor less than five. Organisational structure and decision making 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 winding up. Dec￿lOnS at General Meetings shall be made by passing resolutions. Decisions involving an alteration of the Nemorandum and Articles of AsSOClation ol the Company and other decÉsions so required by statute shall be made by special resolution. A special resolution 15 one passed by a majority of not less than three-fourths of members present and voting at a General Meeting. All other decisions shall be made by ordinary re501ution requiring a simple majority of members present and voting. Risk management The Dkrectors have 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 system5 and procedures are in place to mitigate our exposure to the major risks. Liquidity Risk The company cont(nue5 to ensure that it has svflicient available funds for operations and planned maintenance work. Interest Rate/Cash Flow Risk During the year, the company did not acquire any new long tem interest bearing liabilities. Mayfair Business Centre Limited {A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Mayfair Busine55 Centre Limited produces financial management reports which highlight the key areas that need to be monitored to minimise risk. These reports are presented al the company's regular board meetings. The company has assessed the major risks to which the charity is exposed. in particular those related to the operations and finances of the company and is satisfied that systems are in place to mitigate any exposure to major risks. Activities and achievements of current year Charitable Objects Mayfair Business Centre Limited is committed to encouraging and assisting business enterprise in the Portadown area for the benefit of the local economy. Ma5rfair Business Centre Limited was established in 1994 to assist in the social and economic regeneration within the Portadown area of Cratgavon. The company seeks to cultivate a spirit of entrepreneurship and is pro-active in providing help and guidance and in seeking to attract investment in order to stimulate l(Kal ellterpr￿e development. The main areas in which Mayfair Business Centre Limited are involved with include.. Enterprise development including mentoring ènd small business initiatives-, Workspace provision and property management., Infrastructural improvement., and Community development. Strategit Outcomès Mayfair Business Centre Limited previotjsly reviewed and updated its Strategic Plan in which 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'l, being an area of social and economic deprivation, by all or any of the following means- the relief of poverty in such ways as may be thought fit.. the relief of unemployment in such Was￿ as may be thought fiL includin9 assistance to find employment., the advancement of education, training or retraining, particutarly among unemployed people, and providing unemployed people with work experience.. the provision of Itnancial assistance, technical assistance or bustness advice or consultancy in order to provkde training and employment opportunities for unemployed people in cases of financial or other charitable need through help.. lil in setting up their own business, or lill to existing businesses,. and the treation of training and employment opportunities by the provision of workspace, buildings and/or land for use on favourable terms. Achievements and performance Investment income of £156K12024-. £140KI was generated for the year ended 30 September 2025. A summary of Mayfair Business Centre Limited's achievement5 during the year are set out in the Annual Review 2025 which is due to be presented to the members at Maylair's AGM. At the annual review, the financial statements will be approved by the Direttors. Mayfair Business Centre Limited (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Business Opèrations The main activities of the company remain unchanged and are set out in our mission statement and objectives. These include the promotion of busines5 development and the creation of employment opportunities to businesses and persons, including the unemployed, and the letting of office, service and industrial units. The business operation5 carried on by our tenants cover a wide range of activities and services. These include a charitable business operating 2 shops and a550Clated 'upcycling' adivities,. food Imeatl preparation,. specialist bakery,. a mini-call centre., fitness centre,. solicitor's olftce,. beautician,. training and edutation company, security sector company., hairdresser., financial 5eNices, physiotherapist,. rnigrant support & advice services,. ESOL centre,. Portugtjese Consular Office,. horticulturalist., carpet suppliers., St John's Ambulance 5eNice,' school of music., automotive repair.. Thai food restauranL cabinet-makers.. and a hospitality promotions business. The continued presence of the Clanrye Group within Mayfair Business Centre, has ensured the delivery of a comprehensive range of on-site high-qualtty progr3mmes and seNices. including Training and Qualifications, Health and Wellbeing services and Employment programmes to residents from across the Portadown ènd wider Craigavon area. During the year, Mayfair Business Centre assisted a number of local organisations including a local secondary school to continue the delivery of a health and well-being programme for pupils. In keeping with the company's charitable objectives, the Business Centre continued to work with other community-based organisations and statutory bodies across the Portadown and wider Armagh. Banbridge & Craigavon council area. Overall, the Board of Mayfair Business Centre Ltd continues to make a positive contribution to local enterprise, business development, education and community development during the course of the year. Occupancy Our total propety base performed well over the last year with 100% occupancy levels within both the office space and industrial untts. Overall, the occupancy levels across the site continue to demonstrate both the quality of our facilities and the desirability of Mayfair Business Centre a5 a preferred business location. Sustainabllity At the end of December 2024, Mayfair Business Centre was informed by the National Lottery that an application to that bodls Sustainable Community Buildings pr￿ramMe had been successful and the subsequent Letter of Offer was duly signed and returned. Throughout the first few months of 2025, both the Chairperson and Chief Executive of the Business Centre, successfully undertook a National Lottery training progrémme on environmental sustainability in line with the Programme's requirements. The project permitted the Business Centre to fund the installation of solar panels and movement- controlled LED lighting, along with adjustments to the extsting external lighting supply. Tenders were invited from a number of companies to deliver the project. with REI Electrical Contrattors being awarded the contact in the spring, with works takin9 place throughout the summer and completed in September 2025. The project is expected to generate an annual reduction in electrictty costs by Mayfair over the coming years. Mayfair Business Centre Limited (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 A further application to the National Lottery by Mayfair Business Centre in March 2025 resulted in the awarding of a £16,000 grant for the purchase of two internal office pods to be located in unused space adjacent to the main reception area. Given the 100% occupancy of the Mayfair site, the purchase and installation of these 4-person and 6-person pod5 With National Lotter funding has provided opportunities for on-site businesses and external comm(Jnity groups to avail of these additional spaces for small, private meetings. The Board has continued to fulfil its original objectives. To date, the business has been self-supporting and had required no assistance from èxtemal bodÉes for staffing or other revenue cost5. All of our on-site tenants have been able to continue trading and to maintain their employment and customer levels. The ability of our tenants to do so has helped maintain occupancy levels and the compantys income generating abilities. As in previous years, we will continue to work closely with all our tenants who may be facing unforeseen challenges. Future Ptans The Directors are agreed that they will continue to promote Mayfair Business Centre as an ideal location for new and expanding companie5. The Directors are committed to driving the company forward by applying any surplus received on property activities against charitable objectives. In the longer term. the Directors. and their staff. are committed to securing future investment with a view to providing additional office/service space along with associated car-parking facilities, etc. Loss of fellow Director and Colleague The sudden death of lan Milne, at the end of September 2025, came as great shock to his fellow Directors and the staff of ma￿air Business Centre. lan had been invited tojoin the Board of Directors 2022. He played an active role within Mayfair and the wider Portadown community where he was highly respected by all people for his commitment to helping others. Golng Concern Al the time of approving the financial statements, the dtrectors have a reasonable expertation 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 ol accounting in preparing the financial statements Financial review and reseNes poli 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 note5 to the f￿an(la1 statements. The directors are committed to driving the company forward by applying any surplus received on property activitie5 against objectives. Unrestricted fvnds are essential to provide sufficient funds to cover any unforeseen costs which may arise and fulfil the legal obligations of the Charity if current levels of income are not maintained. The reseNes policy has been designed to recogni5e Mayfair Bu5ine55 Centre's requirements for reserves considering the main risks to the company. In formulating an assessment on the level of resetves Mayfair Business Centre Limited IA company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 required the Business Centre has considered the programmes and services that the centre plans to deliver in the period covered by the Strategic Plan. It has established a policy whereby the unrestricted funds not committed should equate to 6 months. total resources expended. The aim is to provide sufficient funds to cover any unforeseen costs which may arise, recognise the volatile grant environment as well as allowing for the payment of any liabilitie5 which would arise should the company cease to operate. The Trustee5 believe that thig level of reseNes provides sullicient confidence that the iompany is a going concem Bnd the accounts have been prepared on that basis. Mayfair Business Centre Limited (A company limited by guarantee) DIRECTORS. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Statement of Directors. responsibilitie5 The Directors are responsible for preparing the Directors, report and the financial Statements in accordance with applicable Law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounling Practice). Company and charity law requires the Directors to prepare financial statements for each financial year which give a true and lair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company lor that period. In preparing these financial statements, the Directors are required to.. Select suitable accounting policies and then apply them consistently., ObseNe the methods and principles in the Charitie5 SORP: Make estimales that are reasonable and prudent., Prepare the financial statements on the going concem basi5 unless it is inappropriate to presume that the charitable company will continue in operation. The Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the ftnanciil position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Provision of information to aud(tors Each of the persons who are Directors at the time when this Directors, report is approved has confirmed that.. So far as the Directors are aware, there is no relevant audit information of which the charttable company's auditors are unaware., and The Directors 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 auditors in connection with preparing their report and to establish that the charitable company's auditors are aware of that information. The report of the Directors has been prepared taking advantage of the small companies, exemption of section 415A of the Companie5 Act 2006. Th￿ report was approved by the Directors on the 18th June 2026 and signed on their behalf, ty. B Mac Cionnaith Company Secretary MAYFAIR BUSINESS CENTRE LIMITED (A (ompany limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF MAYFAIR BUSINESS CENTRE LIMITED Opinion We have audited the financial statements of Mayfair Business Centre Limited lor the year ended 30 September 2025 which cOMpr￿e the Statement of Financial Activities Ilncorporating the Income and Expenditure Accovntl, the Balance Sheet, Cash Flow Statement, the Accounting Policies and the related notes. The financial reporting framework that has been applied in their preparation 15 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the company's affairs as at 30 September 2025 and of its income for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Audittng IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responSLbilities 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 UK including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilitie5 in accordance with these requirements. We belteve that ihe audit evidence we have obtained 15 sufficient and appropriate to provide a bas￿ for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the directors. use of the going concem basis of accounting in the preparation of the financial statements is appropriate, Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, maycast significant doubt on the companls ability to continLJe as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilitie5 and the responsibilities of the director5 With respect to going concem are described in the relevant sections of this report. Other Information The other information comprises the information included in the annual report other than ihe financial Statements and our auditor's report thereon. The directors are responsible for the other information contained wÉthÉn the annual report. Our opinion on the financial statements does not cover ihe other infomation and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read ihe other information ènd, 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 othenNise appear5 to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether thi5 gives rise to a matertal mi55tatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. MAYFAIR BUSINESS CENTRE LIMITED {A company limited by guarantèè) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MAYFAIR BUSINESS CENTRE LIMITED Opinions on other matters préscrlbed by the Comparties Act 2006 In our opinion, based on the work undertèken tn the course of our audit.. the information given in the directors, report lor the financial year for which the financial statements are prepared is consistent with the financial statements,. and the directors, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exception In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report. We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2￿8 require us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in égreement with the accounting records and returns., or certain disclosures of dkrectors, remuneration specified by law are not made-, or we have not received all the information and explanations we require for our audit. Statement of Directors. re5ponslbilities As explained more fully in the directors, rèsponsibilities statement, the trustees, who are also the directors of the for the purpose of company law, are responsible for the preparation of the accounts and for being satisfted that they give a true and fair view. and for such internal control as the directors determine is necessary to enable the preparation of accounts that are free from material misstatement. whether due to fraud or error. In preparing the accounts, they are responsible for assessing the companls ability to continue as a going concern, disclosing, as appltcable, matters related to going concern and using the going concern basis of accounting unless they either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the f4nancial statements Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material Misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstalement when it exists. Mtsstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the eionomic decisions of users taken on the basis of these account Irregularities. including fraud, are instances of non-compliance with laws and regulations. We d￿ign procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud. is detailed bel¢)w. We obtained an understanding of the legal and regulatory framework applicable to the company through enquiry ol management, industry research and the application of cumulative audit knowledge. We identified the following principal laws and regulation5 relevant to the company Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. io MAYFAIR BUSINESS CENTRE LIMITED (A company limited by guarantee) INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF MAYFAIR BUSINESS CENTRE LIMITED We developed an understanding of the key fraud risks to the entity (including how fraud might occur), the controls in place to help mitigate those risks, and the accounts, balances and disc105ures within the financial statement5 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 enquiry of management. Our procedures to respond to those risks identified included, but were not limited to.. Enquiry of management, those charged with governance and the entity's solicitors lor in-house legal team) around actual and potential litlgation and claim5. Enquiry of entity staff in tax and VAT functions to identify any instances of non-compliance with laws and regulations. Reviewing minutes of meetings of those charged with govemance. Reviewing financial statement disclosure5 and testing to supporting documentation to assess compliance with applicable laws and regulation5. A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Counctl's website él.. http'.//¥ww.frc.org.uVauditorsresponstbilities. This description forms part of our auditor's report. The purpose of our audit woyk and to whom we owe our rÈsponsibiiities This report is made 501ely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Actr 2006 and regulation5 made under that Act. Our audit work has been undertaken so that we might state to the chaiity's trustees those matters we are required to state to them in an aLJditors' 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 charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Teresa Campbell {Senior Statutory Auditor) for and on behalf of AAB Group Accountants Limited Chartered Accountants and Statutory Auditors Dromalane Mill The Quays Newry Co. Down BT35 8QS 18th June 2026 li MAYFAIR BUSINESS CENTRE LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (Incorporating the In