Brownlow Limited
Company Limited by Guarantee
Trustses, Annual Report (Incorporating the Directorfs Report)
Year ended 31 December 2022
Reference and admlnlstrat5ve detal
Reglstered charfty name
Brownlow Limited
Charlty reglstration number
XR38654
Company registratoon number N123271
Princ5pal office and regtstsrod 1 Bluestone Business Park
office
Moyraverty West Road
Craigavon
BT65 SHU
Tho trustees
Ms Dian Heaney
Mr Francis O'Neill
Mr Peter Kiely
Mr Brendan Curran
Mr Denis Loney
Ms Andrena Colhoun
Mrs Cecilia Lee
Mr Louis Sayers
Company secretary
Mr Peter Kiely
Audltor
Henry Murray & Company Ltd.
Chartered Accountants & Statutory Auditor
23 Church Place,
Lurgan,
Co. Armagh.
N. Ireland
BT66 6EY
Bankers
Santander
Booue
Liverpool
L30 4GB
Sollcltors
JPH
Montrose House.
17119 Church Stree(
Portadown.
Co. Am)agh.
Edwards and Company
28 Hill Street
Belfast
BT12LA

Brownlow Limited
Company Limltsd by Guarantse
Trustses, Annual Report (Incorporating the Directorfs Report)
Year ended 31 December 2022
The trustees, who a￿ also the directors for the purposes of company law, present their report and the
financial statements of the charity for the year ended 31 December 2022.
Introductory comment by th• ChalrpeT8on
Given the ￿ntinu1￿j impact of COVKI 19 and ongoing 'cost of energylliving, crisis, 2022. has been
another very challenging year for our clients as they have continued to strive and evolve their
commercial projects. These 'macro' concerns. have contributed signfficantly to the ever present
general economic uncertainties and day to day headaches assock3ted with our clienfs efforts to grow
their businesses. These 'uncertainties', in tum, impact on Brownlow Limited's efforts as a trading social
enterprise.
Brownlow Limited Is an 'anchorf organisation cornmitted to the improvement of the Brownlow are and
has continued to invest and assist in the continuing regeneratK)n of the Brownlow area.
However, as I script this, during the month of August 2023
I wish to highlight an important deveknpment of which Brownlow Limited is particularly proud. As
indicated in previous Trustees Reports; Brownlow Limited has been working to improve and secure
the long-temi tenure of lands, on which it has dvieloped its workspace. In particular V￿ have been
working viith the Department for Communiti'es to secure ownership of the Eands, known as 'Bluestone
2, under the Communty Asset Transfer (CAT) Programme. CAT is an Executrve policy developed, to
provide a framework to facilitate comrnunty ownership of public sector assets. Brovmlow Limited have
been leasing and using this land since 1991 to create economic opportunty in the Brownbw area, via
the development of the Bluestone Business Park 2. Wrth the end of another lease period approaching,
Brownlow Limited asked the Department to consider whether the site could be transferred to us under
the CAT initiative.
Brownbw Limited has a strong track record of promoting and assisting local entrepreneurs through tts
Bluestone Business Park facilities and local actsvities. This CAT offers Brownlow Limited opportunities
to build on that success.
In March 2022 a press release issued by the Departsnent for Communities announced that the
Bluestone 2 site, owned by tt)e Departmen( was to be transferred to Brownlow Limited.
I VK*uld now proudly confim, as of August 2023, that all legalitses relating to this transfer, have been
completed.
On behaff of the Board and all members of Brownlow Limited, we would like to express our gratitude
to the former Minister, Deirdre Hargey, MLA and the Department for Communities for their support,

Brownlow Limited
Company Limited by Guarantee
Trustses. Annual Report (Incorporating the Directorfs Report) (conllnu8dJ
Year ended 31 December 2022
encouragement and recognrtion, of our continuing endeavours to improve the economic and
community welkbeing of the Brownlow area, through the gift of the (freehold) transfer of this parcel of
land, upon which Bluestone 2 has been developed and the acknowledgement that Brownlow Limited's
work yields large economic benefits for both the local arKI wider economy.
Brownlow Limited has through ts efforts to 'build businesses, and economic acttvty in the Brownlow
area, nurtured. encouraged and grovm many diverse clientele and commercial projects, across all
business sectors: demonstrating the tremendous value for money and financial dividend to the wider
local economy, that both has and will be generated from Brownlow Limited's continuing cooperation
with the Department for Communities. On behalf of the local area, we woukl thank the Department for
its 'can do, attitude and vision.
It is appropriate that the Depathient for Communities should consider and factor in the further
potents'al, and think strategically of the 'value adding. work of Brownlow Limited; namely encouraging
and building new businesses, (￿ryth) increasing private sector investrnen( financial tumover, jobs,
Iraining and future development opportunities in the locat economy.
Brownlow Limited also has an excellent and proven trad( recoTd of Y￿rkIng successfully with the
Department ft)r Communities (and its prede￿SSOrs. both the Departrnent for Social Development and
the Depathient for the Environment) and Brownlow Limited remain committed to work with the
Department in the future. A sustainable and growing Brownlow Limited is congruent with the
overarching aims and objectives of the Department for Communrties.
We look forward to further fruitful collaboration in the futu￿. There remains a continuing need for,
and as well as value to, our provision of business support and mentoring strategies.
l am pleased to report thac the current occupancy. across all our properties remains excellent and in
high demand; which confimis both quality and attractiveness of our facilities ar￿ business location.
We remain committed to futfilling Brownlow Limited's core objectives and to improving conditions and
opportunities for the benefft of the inhabitants of the Brownlow area of Craigavon and ts environs.
We also remain committed to malntaining the highest standards of 'govemance' in relation to our
social enterprise. With this in mind we continued to avail of opportunitses for further specialist guKJance
for the Directorsrrrustees and staff durirvJ 2022.
The detail of the following report will provide information of the ongoing job creation perromiance
figures achieved by the commercial projects operating from property and business unts owned or
managed by Brownlow Limited which endorses the viston and aspirations of all the stakeholders who
have given support and encouragement to us throughixrt the 34 plus years since our creation.
Working through our staff, we seek to ensure that our workspace remains attractive more affordable
with flexible arrangements and discounting, especially in the earfy critical stages when entrepreneurs
require support and assistance. as well as potential access to extended periods of credit during
challenging trading periods. in order to encourage their efft)rts in setting up and building businesses.
The SME'S operating and developing from our units a￿ important financial contributors to both the
Brownlow and Council areas as well as supplying the basis for the ￿atIon of crucial training,
employment oppo￿nI1jeS arKI (commercial) wealth. It needs to be recognised that Brownlow Limited's
infrastructure contributes a critical piece in the jigsaw of the health and economic wellbeing of the
Brownlow area of Craigavon. Equalty important is the ongoing sympathetic mentoring and hard work
by Brownlow Limited's staff who work to support and encourage the promoters of new business
projects and assisting ￿ryth their hopes and business plans for the future.

Brownlow Limited
Company Limited by Guarantee
Trustses. Annual Report (Incorporating the Directorfs Report) l¢ondnuedJ
Year ended 31 December 2022
Brownlow Limited remain committed to promoting (local) entreP￿neU[5. We will also continue to argue
that a thriving dynamic economy can contribute positively to assist in addressing our societal
challenges and difficulties. Further, we will continue to make the case that creative entrepreneurial
individuals and groups will, with the right suppor( work to explore opportunities.
Brownbw Limited recognises Ihat entrepreneurship and risk run hand in hand. To achieve our core
aims. Brownlow Limited believe that support for encouraging entrepreneurs and risk investment must
continue. Calculate(I risk taking maybe appropriate in part￿lar circumstances. Continuing support
strategies. such as those employed by Brownlow Limited, remain imperalive. The nurturing of a
vibrant entrepreneurial communty is a key aspect of our local economic competitiveness as well as
being central to our corporate ethos and mission.
In closing, I would. on behalf of Brovmlow Limited. congratulate the entrepreneurs. operating from our
workspace, and wish them well on their commercial endeavours and plans for the future. I thank our
members for their contribution in making our work possible. I would also take this opportunity lo
personally thank both of our staff for all their hard work, professionalism, dedication, and the support
they have gNen me and the Board of Directors. I contiiue to value their flexibilty and commitment to
Brownlow Limited over 25 plus years.
As Chairperson I would also like to thank all board members for their support and encouragement over
the tast year.
In summary we believe our work continues to offer and provide incentives and opportunities for people
to start up and grow their businesses kxally. l am sure that I speak on behalf of all the Board
members when I say we are pleased and proLKI of our collective achievements and our continuing
progress despite the many challenges.

Brownlow Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (conthued)
Year ended 31 December 2022
STRUCTURE. GOVERNANCE AND MANAGEMENT
Govemlng Document
The company is limited by guarantee and govemed by its Trust Deed and Memorandum and Articles
of Association. It is recognised as a chaiity by HM Revenue & Customs and the Charity Commission
for Northern Ireland.
Appolntment of Directors
As set out in the Articles of Assoclaiion the number of directors shall not exceed 8. A retiring director
shall be eligible ft)r reappointrnenL
Up to three of the elected members retire year, with those longest serving first. All members are
circulated, prior to the AGM, informing them of vacancies and the responsibilrties of a member and
inviting them to make nominations on the appropriate fomi.
The directors operated under the chaimianship of Ms D Heaney MBE during 2022.
Inductlon and Training of Director8
All directors both new and existing are encouraged to undergo training and keep under review
opportunities for further training and development every year. All new directors recetve an Induction
Pack. Further guidance. regarding govemance, was teceived from Edwards & Co. Solicitors during
2022.
Organlsatlon
The board continued to maintain contact regularly and mee( subject to and in compliance with Covid
-19 guidelines and Workpl￿ restrictions. during 2022, covering the operations of the company and
matters of corporate strategy. The company pursuant to the corporate strategy receives reports on
current operations at each board meeting. Mr A Ballentine. appointed Chief Executive by the
directors manages the day to day operations of the charity. The directors maintain regular contsct with
the Chief Executive (both fornially and infomially) between Board meetings. An AGM, took place
during April 2022.
OBJECTIVES
Brownk)w Limited is dedicated to the maintenance and improvement of the economic. physical and
social conditsons in Brownlow as well commrtted to encouraging and assisting business enterprise,
thereby increasing economic activity, for the benefft of the inhabttants of the Brownlow area of
Craigavon and its environs.

Brownlow Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (Mntlnuod)
Year ended 31 December 2022
Objectfves (contlnue
Our Puwes & Publlc Benefft Statement and Actlvities
The purpose is stated under clause 3 of the Memorandum of Association of Brownlow Limited. The
objects of the Company shall be the promotion for the public benefft of urban and rural regeneration in
the Brownlow area arKI its environs, being an area of social and economic deprivation, by all or any of
the following means:
the relief of povety in such ways as may be thought fi¢
the relief of unemployrnent in such ways as may be thought fi( including assistance to find
employment
ill. the advancemenl of education, training or retraining, paitularly among unemployed people,
and providing unemployed people with wod( experience:
iv. the provision of financial assistance, tethnical assistance or business advice or consultancy in
order to provide training and employment opportuniti'es for unemployed people in cases of
financial or other charitable need through help:
(a) in setting up their own business, or
(b) to existing businesses;
v. the creation of training and empk)yment opportunitses by the provision of workspace, buildings
andlor land for use on favourable ternis:
vl. the protection or conseNation of the environmenL
The benefits that flow from the first part of the purposes of Brownlow Limited include promoting
economic regeneration and community development in the Brownlow area and its environs by
contributing to physical, social and economic improvements.
The benefits identified for purpose (i) include work being carried on in the defined area of benefit to
combat I reduce economic and PJocial deprivation with a view to improving the conditions of the
Brownlow area and its environs for its inhabitants.
The benefits identffied for purwse {ii) include the encouragement of a culture of entrepreneurship in
the Brownlow area and its environs. by providing local role models of people setting up and operating
their own businesses.
The beneffts identffied for purpose (ill) InclLKle the provision of trdining resources in a business setting,
research facilities and resources for local residents who wish to investigate, explore and pursue the
self-employment option.
The benefits identffied for purpose (iv) indude the encouragement and development of
entrepreneurship by the provision of free advice, inforrnation and signposting to other sources of help.
The benefits idontifi@d for purpose (v) include facilitating the development and access, by local people
to 'fft for purpose, Modem infrastructure in a communty owned asset, specifically property
ownedlmanaged by Brownlow Limited.
The beneffts identified for purpose (vi) include irnproving local landscapes weviousty neglected and
spoiled by derelict housing and developmenL
All of these benefits can be evidenced through govemment reports, Brownlow Limited (including

Brownlow Limited
Company Limited by Guarantse
Trustees. Annual Report (Incorporating the Directorfs Report) (condnu
Year ended 31 December 2022
Objectlves (Mntlnue
TNstees) reports and surveys detailing oC￿PancY levels. land regenerated and workspace 'created',
numbers of businesses in property owned andlor managed by Brownlow Limited together with
employment opportunities generated within them. The public benefft is also evidenced by members of
the public including potential and existing tenants accessing free or at subsidised cost advi￿,
assistsnce and suppo
There is no ham flowing from any of the purposes of Brownlow Limited.
The intended beneficiaries are the inhabitants of the Brownlow area of Craigavon and its environs.
All private benefft is incidentsl and necessary to the Company in delivering ts purposes. For example,
employees receive a wage and also staff may enhan￿ their employment prospects because of the
experience they gain.
Also, some pri￿le benefft is obtsined by the owners of businesses rent unts on favourable
terms.
Board Membersnrustees are reimbursed for any IncKlental and necessary expenses they Incur when
carrying out their roles in the Company. Trustees may gain skills and experien￿ which are
transferabSe to other settings.
These beneffts are incidental and necessary and greatly outrweighe(I by the gains in public benefit
provided to our beneficiaries.
We do not fund our activities through donations or receive 'gifts': rather VR continue to generate funds
from our commercial operations and channel th¢)se funds for our charitable purposes.
All of the directors are voluntary and recelve no fees.
STRATEGIC REPORT
The following sections for achlevements and perfomiance and financlal revlew form the strategic
report ot the charity.

Brownlow Limited
Company Limited by Guarantse
Trustees, Annual Report (Incorporating the Directorfs Report) {contknued)
Year ended 31 December 2022
ACHIEVEMENTS AND PERFORMANCE INCLUDING FINANCIAL REVIEW
Revlew of Actlvllles and Future Developments
The company was granted charttable ststus for tax puws by the HMRC with effect from 1 August
2007. The company successfulty cornp￿ted registralion wilh the Charity Commission Northem Ireland
on 22 August 2014.
In setting our objectives and planning our actsvibes for the year the trustees have given consideration
to the Charity Commission for Northem Irelan(fs guidance on public benefit to ensure that the
activities have helped the charitys purposes and provide a benefit to the bene￿laries.
The main activities of the company are unchanged from last year, and are prlncipally: _
Enterprise development including mentoring and small business initiatives
Wothspace provision and property management
Communty development
Infrastructure improvement
As in previous years Brownlow Lirnited has engaged in the delNery of a number of business
development programmes and initsatives.

Brownlow Limited
Company Limitsd by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (¢onUnued)
Year ended 31 December 2022
Achievements and perf0M￿nce (cononu
Enterprr6e Development Programmes. Inltlatives & Property
Brownlow Limited has during 2022 continued to endeavour to encourage and allow local residents,
employees and owner managers to efficiently access up to date infornwtion and guidance on any
aspect of starting up or developing a business.
Brownlow Limited with a view to furthering its purposes and aims has been providing practical advice,
ongoing mentoring and support to potential and existing entrepreneurs - at no fee - in the Brownlow
area of Craigavon.
We have also offered and provided gUIdarb￿ and hands on support to entrepreneurs operating in our
units - seeking to enhance their business performan￿ - again at no fee.
Employees, with the responsibilty to undertake the activities detsiled above, are professionally
qualified and extremely experienced.
Brownlow Limited has a range of excellent facilities induding training room. IT suite and inteDiiew
rooms, which we conlinue to maintain and update. These facilities allow BrOW￿l0W Limtted to:
Continue to work in pafthership (when possible or appropriate) with organisations such as
SRC and the Brownlow Communty
Improve the research resources and facilities available to existing clients I tenants (and their
employees) wishing to undertake business and enterprise development research.
Increase research facilities for local residents who wish to investigate, explore and pursue the
self-employment optKIn.
Brownlow Limited's office(s)ltraining facilities and IT suite contributes to:
Enhanced research and training facilities for tenants l owner managers wish to provide
on-site development and training for employees.
Facilitate p￿SentationS and development training for the benefft of local businesses and
residentslcommunity groups
For 2022 Brownlow Limited V￿uld report that the pattem of user groups and frequency for our Training
RoomlBoard RoomllT Suiteloffice facilities continued to be negatively impacted by the pandernic.
However. there were the folbwing user groups (with variable frequency):
Business tenants (irregular usage pattem) mostly single users or small groups.
Brownlow Limited Trustees and members {for meetings); assorted usage pattem.
Also, there have been assorted groupings of users who have accessed the facilities on a
regular andlor ad hoc basis during the year. including:
- Brownlow Brush Art Group (half day weekly at particular parts of the year)
Please note that the above facilltles w•rn suppllad free or on a Ihighty) sub8idlsed basis. In
summary th18 part of our work has and wlll contlnue to Improve tralnlng resources In a
buslne88 settlng. aldlng busineswelated research and enterprise support servlces withln the
Brownlow area of Craigavon.
Brownlow Limited worked with Amiagh City. Banbridge and Craigavon Borough Council arKI in

Brownlow Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (conthu8d)
Year ended 31 December 2022
Achievements and perfomiance (c¢wthu8dJ
pathership the other enterprise agencies (Armagh Business Centre, Banbridge Distrlct Enterprises,
CIDO and Mayfair Business Centre) which are located within the Borough and who came together to
deliver another successful Enterprise Week (November 2022). The 'Enterprise Week, prowded
opportunities for local residents. (potential) entrep￿neUr$ and businesses throughout the borough.
across all sectors and at all stages of the business start-up and developmen( to avail of information,
advice and guidance to assist the creation and development of businesses.
Brownlow Limited engaged in a number of speafic business support initsatives.
The business operations carried on by tenants at the Business Parks and property managed by
Brownlow Limited are varied and include manufacturing. retail. web based, pharmaceutical, and
service sectors. There were at the end of the financial year (December 2022) 38 businesses
(including Brownlow Limited) with 152 - both full time and part-time- persons employed by and as a
result of our tenant's commercial activities, operating from Bluestone 1,11 and Moyraverty Centre units,
which are all controlled and managed by Brownlow Limited. The totsl of 38 includes 1 new business;
which, placed in the wider context of economic developments and uncertainty is to be welcomed.
Numbers employed directly and indirectly by our clients in pursuit of their commercial operations
present a signtficant total number, in the context of the Brownlow area. The￿ were also unwaged I
voluntary personnel involved in some of our tenantsldients, activities and projects. At the end of the
year (3111212022) within Bluestone l. approximately 29% of workspace was occupied by businesses
engaged in food manufacturing andlor food wholesaling. Brownlow Limited remains of the opinion
that there is signfficant value adding and wealth creating actsvty generated by, and potential, with
businesses operating in this area.
The trustees I dlrectors are pleased to report that our total property base has agaln performed well
over the last year with high average occupancy within Bluestone l. Bluestone 11. our facilitss in
Legahory and the Moyravety Centre.
At the end of the year (Dec 2022) Bluestone Business Park I, Phase I, was 100% occupied. Phase11
of Bluestone Business Park I was 100% occupied and overall C•ccupancy in Phase111 was 100%.
All the units in Bluestone 11 (where Brownlow Limited's larger unils are located) as well as the units
managed by Brownbw Limited located in the Moyraverty Centre were atso 100% occupied at the end
of the year.
Not including our facilty located in LegafrKJry, the totsl workspace owjpied, at the erKI of the year
(3111212022) totalled 55,600 sq. ft of workspace. This continues lo tepresent a very positive position
and trend over recent years.
Over the last year there has been some client tumover, with some businesses relocating into larger
premises within the business parks, while others were affected by the wider economic climate,
changing (personal) circumstances and expansion plans.
However there have been additional new businesses established and developed in our units;
providing opportunities for local people to live and work in the Brownlow area.
We have activety assisted all of these clients to develop and implement gr￿Ath and expansion plans:
as well as others to navlgate challenging trading and economic conditions
Brownlow Limited in furtherbng ts purposes and aims has been provNling business premises at more
affordablelhighly discounted rates in the start-up phase and further flexible arrangements taking
account of their circumstances and financial resources.
10

Brownlow Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (conllnuedj
Year ended 31 December 2022
Achlovements and perfomiance fwillnued)
Durlng 2022. Brownlow LimStod Invosted In new and expandlng buslnesses In the buslness
parks, by discountlng Infrastrncture to the value of apprnximatsly £1.150.
This does not include th• lad that Brownlow Lim5ted does not Jevy our tenants any service
charges nor lease admlnlstration fees. Thls contributlon to the buslnesses represents
significant Sum, which can amount to tens of thousands of pounds. annually. Nor does thls
flgure Include any bad debt wrltten off or interest - whlch Is not charged on late payments for
debt owed.
Brownlow Limited's regeneration work conlinues through the ongoing Care and professional
managemen( in particular of Bluestone Business Park l and 11. The visual presentstion and
management of our business parks not onty benefft the busin&ss, which operate from our business
parks but also benefit local residents and other stakeholders induding developers, local and ￿ntral
government etc. Employers, employees and visitors to the Bluestone Business Parks now see a
development of signfficant proportions. as well as being able to benefft from modem and vlsually
pleasing facilities that are available to the locally evolving and expanding business community.
As in previous rep(xls the Trustees are keen to stress that projects such as the Bluestone Business
Park can be only be properly evaluated over the long-temi - in fact over the totsl Ilfe of the buildings;
which delivers a dividend, in terms of new businesses and empk)yment opportunities nurtured and
encouraged (in the workspace created arKI provided) every year over the univs total service life. The
commercial projects which have been stimulated and supported continue to deliver a retum to the
economy even after a business leaves our business path. We count amongst our greatest successes
those businesses, which V￿ have supported, outgrow our enterprise unts, and have to relocate
elsewhere. The point being there is significant value adding and Trtums to the local and 7Mder
economy potential. because of ourpmiect.
Over the last year. the importance of Brrywnlow Limited's infrastructure and facilities available to the
business community based in Bluestone Business Park continues to be recognised and welcomed -
as evidenced by the high levels of demand and occupancy by entrepreneurs and businesses.
The enterprise support services that we have been engaged in, during 2022, adds to Brovmlow
Limited's established track record of successfully delivering a range of small business programmes,
encouraging entrepreneurship, assisting business start-up rates, maintaining l improving business
actNty levels and encouraging community and small business interaction.
During 2022. Brownlow Limited continued to invest in. and raise the SpeCi￿ation, of our units.
We have also continued to care for and maintain, and upgrade as appropriate, the substantial assets -
built and environmental - under our management
Taking account of the number and range of business units (with drffering specifications) and age of
(the) units, under our management, Brownlow Limited's repairs, maintenance and reinstatement
budget has and will necessarily increase.
We have kept under review opportunities to explore and obtain grant support when possible and
appropriate. A successful application, for £1,800 was made to the Amiagh Cty. Banbridge and
Craigavon Borough Council (with the support of funding the Department) to purchase an
Automated Extemal Defibrillator (AED) Support Grant. During 2022 this grant was drawn dovm and
fully spent in accordance with the Letter of Offer requirements to purchase a Public Access
Defibrillator (AED) andlor CPR training suppotL It is acknowledged that this will help Brownlow
Limited, via the local provision of this crtscal 'life saving. device. play a vitsl role in helping save INes in
the Brownlow Area.
We continue to 'professionalise' the supply of our services by raising stsndards to contribute to the
11

Brownlow Limited
Company Limited by Guarantse
Trustees, Annual Report (Incorporating the Directorfs Report) (witInu￿)
Year ended 31 December 2022
Achievements and perforn)ance Iconthuodj
efficiency and safety of our communty owned and managed business.
As in previous years Directors and staff of Brownlow Limited have attendedlparticipated in a number
of meetings with representatives of the NIHE, Invest N.1., The local enterprise agencies located within
the Borough (in particular Armagh Business Centre. Banbridge District Enterprises, Craigavon
Industrial Development Organisation and Mayfair Business Centre) as well as Amiagh City, Banbridge
& Craigavon Borough Council off￿erS regarding efft)rts to eV0￿e a more vibrant local economy and
making contributions to possible enterprise devek)pments and programmes in the fvture.
Brownlow Limited's capacty to facilitate short te￿n stUdentlemplo￿nent work placements was
necessarity curtailed due to Covid-19 and related workplxe restrictions.
The Directorsifrustees, during 2022, engaged with professional legal experts, to continue to maintain
the highest stsndards of govemance, receiving advice and further training for directors and staff as
appropriate.
12

Brownlow Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (¢ondnued)
Year ended 31 December 2022
Achievements and perforniance (condnued)
Overvlew
Brownlow Llmited Is a successful local communty and economic development company: which has
been working over a considerable number of years to generate and improve business activity levels in
the Brownlow area of Cratgavon. Brownlow Limited conlinues to fulfil its key objectives
Our work of supportlng the local development of an entsrprlse culture - vla among other things
Infomiatlon, advicelmentorlng. slgnposting, networklng. access to quallty Infrastructure and
credit (at no charyel the results of whlch can be seen wlthln our Buslness Parks
demonstrates the potential and success of local people taklng an actlve role In the
development of their local economy.
Brownlow Limited continued to help establish new businesses antl enhance the capability of existing
businesses by offering a range of enterprise and business support activities for the benefit of
enterprise development within the Brownlow area.
General occupancy levels have continued lo remain high principally through our efforts to encourage
and facilitate business growth and expansion plans. The overall pattem, during 2022, remains one of
low client tumover and the consolidation and continuing growth of the business operations of some of
our dients.
Some clients have grown substantially, following their initial establishment and development from
within the Bluestone Business Parl Brownlow Limited's infrastructure and support services and
facilities were of critical benefft to nurturing and encouraging the creation of sÉgnifrAnt employment
and training opportunities as V￿11 as wealth creation locally.
Our work has had the beneftial impact of increasing employment and developrnent opportunities in
the Brownlow area.
Brownlow Limited has. during 2022, helped local people l owner-managers achieve their commercial
ambitions and acted as a catslyst to trigger private investment and encourage businesses to scale up
their capabiliknes and aspirations.
A survey was undertaken based on the prnvlous twelve months (from December 2022) trading
period. whlch Indicated that, despite the challenglng clrcumstances. the comblned flnanclal
tumover of all businesses in the Bluestone Buslness Parks was clrca £22 m5111on. This
represents a very Impressive economlc indlcator of the total value ol goods and services
generatod and supplled, as well as wealth created. of the efftirt8 and work of both all the Gllents
as well as Brownlow Limited In thls part ol the Borough.
It Is. therefore, very approprfats to commend all our clients. for their conllnulng entrepreneurial
efforts a8 th•y manage thelr commerclal operatlons.
It is important to draw attention to the challenging local and global economic conditions that our dients
are endeavouring to operate within.
More generally our initiatives. resources and endeavours have supported local Job creation, access to
t for purpose. infrastructure and credit as well as communty interaction and engagement. We
continue to successfully bring increased economic activity to an area historicalty acknowledged to
have significant relative leveEs of deprivation and disadvantsge.
A]though we are reviewing 2022, there is merit in recognising achievements and progress made as we
produce this report in August 2023.
We have continued on with a number of specift Maintenan￿ and property upgrades, to improve the
13

Brownlow Limited
Company Limited by Guarantse
Trustees. Annual Report (Incorporating the Directorfs Report) {¢ondnue
Year ended 31 Decernber 2022
Achlevements and performance Iwthued)
specification of our units. However certain initiatives and projects have been delayed as a result of
macro4conomic issues and the pandemic context
Brovmlow Limited have necessarily. during 2022, hatl to undertake sympathetic business mentoring
and support in order to maintain small businesses actFvty levels in the Brownlow area. Brownlow
Limited employees have continued to IHise with our clients to assist them to identify, assess and
benefit from a wide range of govemment support and assistan￿ that may be appropriate for them to
Brownlow Limited have also been working with the NIHE and the Department for CommunitRs to
secure our long-temi tenure of lands at Bluestone 1 and Bluestone 2.
Occupancy levets across all the existing property managed by Brownlow Limited remains high, despite
the very challenging economic conditions wilhln which commercial entitie5 are operating.
We have encouraged a culture of entrepreneurship (providing IC￿al role models), increasing business
start-ups, helping to improve small business activity levels and facilitating community and business
interaction amongst and between a wide range of groupings INing and working lO￿lly. We believe
our work conts.nues to offer incentives arKI Provide opp￿tunItieS for people to start up and grow their
businesses in Brownbw.
We continue to be cautious and prudent going forward and to be sensitive to the economic fluctuations
and uncertainties which may impact on (the endeavours ofj both our clients and ourselves in these
challenging times; whitst also recognising there maybe opportunities to be exploited.
The physical and aesthetic improvements brought about by the investrnent and development, as well
a8 careful maintenance of Bluestone Business Park - will Gontinue to improve opportunttie3 for new
businesses not only to be established in the Brownlow area but also provide the necessary
infrastructure to support t￿SinesS 'start up, and growth in the medium arKI long term.
The viability and sustsinability of Brownlow Limited, as a communty and economic regeneration
organisatson, continues to be secured through the rental income received. Our social enterprise is
self-supporting and requires no assistance from external bodies in respect of operating (including
salary) costs.
We conlinue to pNdently plan for the medium- arKI long-term sustsinability of Brovmlow Limited, to
deal with necessary expenditure, including reinslatement (of critical infrastructure) as apprO￿late.
Communty pride in the Brownlow area as well as Confiden￿ in the future has and Gontinues to be
enhanced by all of Ihe above. This serves to encourage investment and development in the business
park and the Brownlow area.
14

Brownlow Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (conthued)
Year ended 31 December 2022
Achievements and perfornmnce {conthiueo)
Communlty Llnkages
We continue to buitd our relationship with IcKal resident groups, who use our facilities.
Brownl¢yw Limited have also continued to evolve and manage ts ongoing relationships with local
educational establishments. NIHE, local enterprise agencies across the Borough, relevant
Govemment Departrnents, the local Armagh Cty, Banbridge & Craigavon Borough Council and
elected representatives across the complete political spectrum.
BrowmkyN Limited's success is, over the past 32 years, is in no small part due to the cwjperation of,
and partnerships with, statutory bodies, furKling bodies, politlcal representstives. the private sector
and the Brownlow community. Additionally, our poslts.on and success would not havo been
achleved wlthout the dedlcatlon and hard work of the Board and staff.
15

Brownlow Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the DirectO￿S Report) (¢onllnued)
Year ended 31 December 2022
Achievements and performance (condnued)
SUMMARY
In summary this rewt has detailed and explained the main activities undertaken by our charity to
further ts charitable purposes for the public benefft and the main achievements - and the resutting
benefts - of the charity during the year.
In particular.
eneratlon In the Brownlow area and its environ8
We have acted as a local catslyst to facilitate and encourage, particularly in the land and property
owned andlor managed by Br￿￿nIOW Limited, increased public, communty and private investment,
reduced the amount of dereliction and improved- the landscape by the provision of modem
workspace, access to 'fft for purpose, small business Infrastru￿Ure, access to (financial) credit to
potential and existing entrepreneurs, local job creation through the occupation of our enterprise units,
increased local employment opportunities. Also, benefits have included the development of a more
vibrant private sector in the Brownlow area and its environs by Brownlow Limited's V￿rk of increasing
the numbers of localty owned and operated businesses. Local people l owner managers have been
asslsted to achieve Iheir commercial ambitions. triggering private investrnent arKI encouraging them,
as appropriate, to scale up their Ixjsirbess capabilities. Further the encouragement of a uJSture of
entrepreneurship {providing local role molels). improving small business activity levels as well as the
creation of small business interaction andlor contact opportunities in the Brownbw area. There are
also significant and obvious physical (aesthetic) improvements, brought about by the investment in the
property owned l Managed by Brownlow Limited. The investsnent in our business parks not only
improves opporiunities for new businesses to be established in the area but also provides the
necessary infrastructure to support 'start up, and 'growth' stsges in small business development over
the long tenn. Investment and employment have b￿n brought to an area, recognised to have
significant relative levels of deprivation and disadvantage. Further thefe has been the encouragement
and support of cornmunty linkages, interaction and engagement. Also improved contact I relationships
between local community representatives and local educational establishments. relevant Govemment
Departrnents, local Councils. and elected representatives across the political spectrum. Owner
manager and community prtde in the Brownlow area, specif￿llY in property ovmedland or managed
by Brownlow Limited as well as conftlence in the future, as evidenced by the occupation of units has
been - and will be - enhanced by our work
Rellef of Pov
In addition to acting as a local catslyst to facilitate and encourage I public and private investment in
enterprise and small business development in the Brownlow area and its envlrons; we have
encouraged wealth creation, generaled through the trading activities and financial tumover of tenants,.
and salaries locally eamed through the employment opportunities created are able to be spent locally.
Benefits also induded the creation arKI increase of employment opportunities localty than othepwise
would be the case. Benefits have also induded the local facility and provtsion of business (and
financial) planning SUPPOrt through counselling and advice at no fee. Contributions to community
development and economic regeneration of the Brownlow area and its environs have been made by
Brownlow Limited's work through the benefft of increasing the numbers of locally owned and operated
businesses. Local people have been able to benefft from the option of both living and securing
employment in the area. Benefits have also included the local provision of 'fft for purpose, workspace
units to individuals at favourable rates and flexible arrangements, especlally in the start-up phase,
taking particular account of thelr Circumstar￿eS and financial resources. Benefits have also included
the discounling or relief of rental debt. rekting to business accommodation in the Bluestone Business
Park.
Rellef of unom
lo
ment
Local potential and existing entrepreneur5, including the unemployed. have benefited from assistance
to explore the self-employment option. Aso, from the availability of initial and ongoing mentoring,
16

Brownlow Limited
Company Limitsd by Guarantse
Trustees. Annual Report (Incorporating the Directorfs Report) fconthued)
Year ended 31 December 2022
Achievements and perforniance (conflnued)
signposting and support, helping to improve small business actsvity levels through assisting new
business start-ups, business development and frdcilitsting community and business interaction and
contact opportunities amongst and belween a wide range of individuals and groupings working in
property ownedlmanaged by Brownlow Limited. There has been the encouragement of a culture of
entrepreneurship, in the Brownlow area and its environs, by providing local role models of people
setting up and operating their own businesses. Our work has generated incentNes and employment
opportunities for people to siart up. grow or operate their businesses in the Brownlow area and its
environs. Also, from this there has been the additional benefft of the creation of further employment
opportunities in these enterprises.
The advancement of education trainln
or rntrainin
We have assisted the development of individual capabilÉties, competencies, skills and understanding
in the areas of business, management and enterprise while accessing free advice, mentoring and
support We have provided training resources in a business setting, research facilities and resources in
our Off￿S11T Suite for local residents who wish to investigate, explore and pursue the
self*mployment option. We have irnproved the hxal availability of research resources and facilities
available to clientsltenants (and their employees) wishing to undertake business and enterprise
development research., There are improved employment prospects and opportunities for people (to
avail of job vacancies) who have successfully availed of mentoringldevelopment delivered, in the IT
Suiteloffices of Brownlow Limited; Employment opportunities have been created for people, who
having successfully completed enterprise and entrepreneurial development and research, decide to
pursue the self*mployment option: Work experience placement opportunities for unemployed people
have been created both directly by Brownltrw Limrted or facilitated by our dients
The
rovision of financial asslstsnce tschnlcal assistance or busine88 advlce or consultanc
in order to
rovide trainin
and em
lo
ment o
ortunities for unem
lo
ed
eo
le In cases of
rinanclal or other charltable need throu
hhel
In settln
thelr own buslness or
to
exlstln
buslnesses Brownlow Limited has worked to encourage and develop entrepreneurship by
the provision of free advi￿, infomiation and swnposting to other sources of help. empathetic
(business) mentoring, guidan￿ and support as ¥￿1[ as access to (financial) credit facilities through
the infrastructure and business accommodation provided to potential and existing entrepreneurs as
they seek to establish, operate or develop their businesses locally. The￿ has been the provision of a
range of facilitses and services, including IT, research and training resources, 'meeting' and intep4iew
rooms at no or subsidised cost Entrepreneurs benefit from the financial assistsnce though the
provision and access to 'c￿di¥ and discounting of premises, eSp￿IlY in the early period - to new
andlor existing businesses in the Brownlow a￿a as they seek to evolve their enterprises.
Self-employment and employment and training OPPOrtunibe8 created through the small businesses
formed and operated locally. Brownlow Limited's l.T suite in its offices and partnership work with third
level educational establishmen￿Our clients - utilising these facilities - facilitates the successful
delivery of innovative businessrtechnical training at no cost to (including the unemployed) participants.
Through the provision of our resources and facilities, has offered (unemployed) participants, (of
training programrnes) the opportunty to leam practtcal and technical business skills, recognise
entrepreneurial talent, increase the number of self-employment and employment opportunities. Also
alloviing participants, the ne￿SSary infrastnthre and resources to gain qualiftations, receNe
guidance and support from industy mentors
The creation of trainln
and em
lo
ment o
rtunttles
the
rnvlslon of works
ace
bulldln
s andlor land for use on favourable ternis. Brovmlow Limited's initiatives, resources and
endeavours facilitate the development and access, by Icral people to Yrt for purpose, modern
infrastructure in a community owned asset, specifically property ownedlmanaged by Brownlow
Limited. Our work has benefited the potential entrepreneur, by offering irwtives and encouragement
for people to start up andlor grow their busine&ses in the Brownlow area and its environs thereby
creating employment opportunities- as well as assisting the potential creation of further employment
opportunities in these enteryyrses. Brownlow Limited's work has faciltsted the local proVis￿n of and
17

Brownlow Limited
Company Limited by Guarantse
Trustees. Annual Report (Incorporating tho Directorfs Report) (conthuedj
Year ended 31 December 2022
Financlal review (conrfnuedj
access to credit facililies through ts infrastructure and business accommodation provided to potential
and existing entrepreneurs as they seek to estsblish. operate or devekjp their businesses locally.
Brownlow Limited's wort has facilitated access to local 'fft for purpose, business premises especially in
the start-up phase, tsking account of individual circumstances and financial resources.
The
rotectlon or conservatlon of the envlronment
Brownlow Limited has promoted sustainable means of achieving economic gr￿&th and regeneration
by the development of infrastructure, in propety owned and managed by Brownlow Limited, which will
be available to new and small businesses operating in the Brownbw area and ts environs in the short,
medium and long tenn. Also, the Brownlow area has beneffted from the improvements and
maintenance of local landscapes. previously neglected and spoiled by derelict housing and
development. The long-tem) sustainability and viability of the Brownlow Limited {project) has been
secured by the rental income received and careful management of its communty owned and
managed resources.
FINANCIAL REVIEW
FINANCIAL PERFORMANCE
The company made a surplus of £97.770 (2021 £101,111 > before deducting depreciation of £3.231
(2021 £3.846). Ths surplus includes grant income of £1,948 from Amagh Cty, Banbridge and
Craigavon Borough Council. (2021 £3,171 from The Deparlment of Communities). The resulting
retained SUTplus for the year totalled £94,539 (2021 £97.265). The company had net assets of
£4,323,985 (2021 £4,229,446) as at 31 st t)ecember 2022.
PROPERTY MANAGEMENT-
Property Occupancy Levels .
August 2023
(Actual)
3111212022
3111212021
Bluestone Business Park l (Phase 1)
100%
100%
Bluestone Business Park 1 {Phase 2)
89%
100%
100%
Bluestone Business Park 1 {Phase 3)
100%
100%
100%
Bluestone Business Park11
100%
100%
100%
Moyravety Centre Units
11)0%
100%
100%
. Based on occupied square feet as a percentage of total available square feeL
- Does not indude our facility at Legahory, which was fully ￿pIed throughout the year.
18

Brownlow Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (¢ondnued)
Year ended 31 December 2022
Financial review (¢ontlnuedJ
The directors are pleased to report that our property base has perfonned well over the last year.
These figures and perfotmance are the result of our endeavours to encourage small business
development locally.
ENVIRONMENT
Brownlow Limited takes serious ts responsibilities in relation to the environmenL The directors in any
future development of Bluestone Business Park will always be keen to review the posslblllty of
incorporating Eco friendly initiabves.
HUMAN RESOURCES
Brownlow Limited has put in place, following a review. a comprehensive range of Cunpany policies
and procedures for all siaff.
We recognise that our employees are the companWs major asset and en¢ourage them as well as the
Dir8Ctors to invest lime in availing of any relevant training or development opportunities appropriate to
their posittons.
RISKS
Our perfornian￿ is affected by general economic condilions and Govemment policies in relation to
the funding of local economic programmes.
Brownlow Limtted and its Directors l Trustees are sats'sfied that systems and pr￿lUreS are in place
to mitigate our exposure to the major risks to ensure the future sustainability of our company.
Flnanclal Rlsk Management
The companls operations expose tt to a variety of financial risks that include the effects of changes in
credit risk, liquidity risk and interest rate risk. The company has in place a risk management element
that seeks to limit the adverse effects on the financial perfomwjce of the company by monitoring
levels of debt finance and the related finance costs.
The polw set by the board of directors are implemented by the companYs Chief Executive.
Credit Rlsk
The company has policies that ￿qui￿ appropriate credit checks on potential clients before accounts
are opened. The amount of exposure to the indmdual clients is regularly reviewed by the board.
Llquldlty Rlsk
The cornpany Continues to work towards ensuring that It has sufflclent ayallable fund5 ftjr operatlon
and to contribute to the exploration of possible extensions.
Interest Rate Cash Flow Rlsk
During 2022 the company did not acquire any ￿[On
-term interest4earing liabilities.
Brownlow Limited produces critical financial managernent reports, which highlight the key areas that
need to be monitored to minimise risk. These reF￿S are presented at the board meetings.
The company has assessed the major risks to which the charity is exI￿d. 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 the rnajor risks.
19

Brownlow Limited
Company Limited by Guarantee
Trustses. Annual Report (Incorporatlng the Directorfs Report) (conllnuad)
Year ended 31 December 2022
Financial review {condnu6dJ
RESERVES POLICY
Brovmlow Limited's policy is to create and retsin dedicated reserves in keeping with prudent 'best
practice, planning. This ts and will need to be of sufficient size to meet the running costs for an
agreed period and facilitating medium- and long-temi planning including provision for reinstatement
and the company's responsibilittes.
PLANS FOR FUTURE PERIODS
The Trustees remain committed to driving the Company forward.
We will continue work to mainlain our r*tionships wth educational establishments. govemment
departments, Amagh Cty. Banbridge & Craigavon Borough Council, politrcal representatives and all
the other enterprise agencies in the Borough to raise our profile and nurture and increase business
activty levels across the Brownlow and Council area.
We also hope to ￿ with the Council and the other four enterprises agencies in the Borough, to
contrlbute to the delivery of an enterprise support inrtiatives as appropriate.
We will also be laking foNRrd our plans to improve our long-temi tenure of parcels of land upon which
workspace and facilitss have been developed by Brownlow Limited.
We have initiated internal disojssions and intend to give further detailed consideration to the
possibilities for further phases of development wtthin the Bluestone Business Parks l & 2.
Ongoing reinvestrnent will continue to be required, to maintain the condition of the er)terprise units and
update their specificats'on, to cater for the requirements of potential entrepreneurs. In particular
Brownlow Limited will be exploring possible opportunities to invest in and update the speGification of
our business units within Bluestone 8usiness Park l and11. updats.ng andl improving the facilities in our
Business Park's is necessary to ensure high levels of demand and occupancy are maintained; and
that quality workspace is available to assist local peoplelentrepreneurs to develop their commercial
projects. which in tum, contributes to the financial well-being of the Brownlow area and its environs.
We viill continue to be a local basis for additional investment by businesses and employment and
training opportunities
More generally we will be worklng to maintaln the utlllsation and occupancy levels of our
hlghquallty fft for purpose workspace - from where people - from all backgrounds regardless
of agei gender, race or political oplnlon Can establish. operate from and develop commerclal
enterprfses whlch w511 generats Important local wealth for the Brownlow communlty.
We wlll contlnuo to offer opportunltles. buslness information. signposting. mentorlng and
support for potentlal and exlstlng owner managors and businesses to ava51 of quallty
workspace and infrastructure In the Brtywnlow area of Cra5gavon; provldong Important beneflts
to the buslness communlty in the shor( medlum and long terni. We remaln ambltlous for the
luture and regard our currnnt position as (stlll) a knrk In progress,.
20-

Brownlow Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (conthued)
Year ended 31 December 2022
TRUSTEES. RESPONSIBILMES STATEMEKr
The trustees. who are also directors for the purposes of ctxnpany law, are responsible for preparing
the trustees, report and the financial statements in accordance with applicable law and United
Kingdom Accounting StaThdards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a
true and fair view of the state of affairs of the charitable company and the incoming resources and
application of resources. induding the income and expendiiure. for that period.
In preparing these financol ststements. the trustees are required to:
select suitable accounting policies and then apply them consistenuy:
observe the methods and principles in the applicable Charthes SORP:
make judgments and accounting estimates that are reasonable and prudent
state whether applicable UK Accounkng Standards have been followed. subject to any material
departures disclosed and explained in the financial statements;
prepare the financial statements on the going concem basis unless it Is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the charitvs transactions and disclose with reasonable accuracy at any time the financial
position of the charity and er￿ble them to ensure that the financial ststsments compty with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for tsking reasonable stsps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a trustee at the date of approval of this report confimis that
so far as they are aware, there is no relevant audit information of which the charitys auditor is
unaware: and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of
any relevant audit information and to establish that the charitls auditor is aware of that
infonnation.
The auditor is deemed to have been reappointed in accordance wilh section 487 of the Companies
Act 2006.
Thls report has been prepared in accordance with the special provisions of Part 15 of the Companies
Act 2006 relating to small companies.
The trustees, annual report and the strateglc report were apwoved on 26 September 2023 and
signed on behalf of the board of trustees by:
Ms Dian H
Trustee
ey
Mr Peter Kiely
Chartty Secretary
21