Company Registration Number: Nl 27285
Charity Number: NIC100340
Castlewellan Regeneration Limited
(Company Limited by Guarantee)
Annual Report and Financial Statements
Year Ended 31 March 2024
KPS Chartered Accountants
Chartered Tax Advisers
Registered Auditors
35 Irish Street
Downpatrick
BT30 6BW

Castlewellan Regeneration Limited
Financial Statements
Year Ended 31 March 2024
Contents
Page
Charity Reference and Administrative Details
Trustee's Annual Report
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
10
Notes to the Financial Statements
11-14

Castlewellan Regeneration Limited
Charity Reference and Administrative Details
Year Ended 31 March 2024
Charity registration number
NIC100340
Company registration number
N127285
Trustees
Jean King
Terence O'Reilly
Samuel Brannigan
Eamonn O'Neill
John Shilliday
Robert Trotter
Hugh Gallagher
John O'Neill
Company Secretary
Samuel Brannigan
Registered Office
The Lodge
1 Dublin Road
Castlewellan
Co Down
BT31 9AQ
Accountants
KPS Chartered Accountants
35 Irish Street
Downpatrick
Co Down
BT30 6BW
Bankers
Ulster Bank Limited
29 Upper Square
Castlewellan
Co Down
Solicitors
Michael F Curran
29 Central Promenade
Newcastle
Co Down
BT33 OAA

Castlewellan Regeneration Limited
Trustee's Annual Report
Year Ended 31 March 2024
The Trustees present their report and the unaudited financial statements of the charity for the year ended 31
March 2024 which complies with the requirements for a directors, report and accounts under the Companies
Act 2006. The truslees have adopted the provisions of the Ststement of Recommended Practice {SORPI
"Accounting and Reporting by Charities. {FRS 102) in preparing the annual report and financial statements
of the charity.
Trustees of the charity
The directors of the charitable company are its trustees ft)r the purposes of charity law. The trustees who
have served during the yeaf ended 31 March 2024 and Sin￿ the year end were as follows..
Jean King
Terence O'Reilly
Samuel Brannigan
Eamonn O'Neill
John Shilliday
Robert Trotter
Hugh Gallagher
John O'Neill
Objectives and activities
To organise the provision of financial assistance, technical assistance or business advisor or consultancy in
order to provide training and employment opportunities for unemployed people in cases of financial or olher
charitable need through help in setting up their own business or existing business.
The promotion for the public benefit of best practice in the field of urban and rural regeneration and in
particular within Castlewellan (the operating area) and including the promotion for the public without (without
preiudice so that generality} the public benefit of the preservation of buildings or sites of historical or
architectural importance, so as to enhance the provision or recreational facilities for the public at large or
those by reason of their youth, age, infirmity or disablement, social and economic circumstances have need
of such facilities.
The promotion of such other charitable purposes as the Company (CRL) see fit.
Castlewellan Regeneration Ltd Mission Statement consists of the following:_
"Castlewellan Regeneration Ltd aim is to Regenerate the economic, environmental and social life of
Castlewellan by encouraging statutory. voluntary and private bodies and individuals to invest their time and
money in the town and district. By sharing and participating in partnerships with others, Castlewellan
Regeneration Ltd also endeavours to improve the fabric of the wider South East Down Region to the benefit
of all its people.
In the past CRL have been instrumental in obtaining grants to bring derelict buildings back into community
usage for example Hillyard house, The Corncrane Building from which the doctors in Castlewellan now
operate from and most recent and currently The Lodge Building from which CRL now operate from. CRL
have over the past number of years carried out along with DDC a number of environmental improvement
schemes throughout the town this ranged from footpaths. flowerbedslshrubs to spruce up projects for local
traders and businesses.
Currently we are exploring further funding opportunities for Spruce Up Schemes.
CRL continues to run the Tuesday Club for senior citszens that provides various activities and trips out for
them. Prior to the Pandemic we would have 30 plus people attending the club and all who attend say that the
cILfb offers them a lifeline not only from the point of social but also rural isolation and firm friendships and
wellbeing have been established as a result.

Castlewellan Regeneration Limited
Trustee's Annual Report
Year Ended 31 March 2024
Public benefit statement
The charity has given careful consideration to the Charity Commission for Northern Ireland's guidance on
public benefit to ensure that the activities entered into during the year have helped to achieve the charity's
objectives and activities as well as providing public benefit.
Achievements and performance
Firstly, I would like to thank my fellow Directors and the staff of Castlewellan Regeneration Ltd for their
unwavering commitment to the Company.
The Past number of years has at times been difficult in terms of the cost- of-living crises with the economic
situation worldwide and with global uncertainty, we are all being affected by issues beyond our control.
The increase in the cost of fuellpower along with the cost-of-living increase has undoubtedly affected
everyone and it was due to these increases that in the past CRL had to make the difficult decision to slightly
increase our service charge and ad hoc rentals. This very small increase enabled Castlewellan Regeneration
Ltd to keep economically viable but this year we have decided as a company to refrain any such increase but
as the cost-of-living crisis continues to escalate, we will continue to monitor the situation closely.
We are extremely fortunate that all our tenants have understood our rational and have remained part of the
complex within the lodge building, providing excellent services and facilities for the residents of Castlewellan
and beyond. l am pleased to state that our usage has increased slightly over the past year with new ad hoc
users NMDDC, NIHE and more local groups availing of our premiseslfacilities etc.
The variations in our tenants at the lodge provide many services to the local population from optician to
podiatry and everything in betr4een, make up a vibrant centre alongside NCCE Chomaltas who provide
music/ culture to both our young and old. I would like to wish all our tenants and users continued success in
all they do. This past year has seen both our Tuesday Club and Men's Shed grow from strength to strength
and enjoying such activities as Keep Fit, Crafts, Well Being. gardening etc and of course Shopping Trips.
It was because of the success of the Tuesday Club that we decided to start a men's shecl. As a Community
Group we are all too aware of the challenges and difficulties faced by older people and both clubs provides a
much, needed lifeline for all those who attend as many live in social and rural isolation,
Funding
opportunities are becoming more and more difficult but during the past year we were able to secure funding
from KNIB and CDRCN.
We are currently sourcing funding to upgrade the wooden floor in the large hall and replace the flooring in
the green room. Like all Community groups it can be a struggle to maintain the premises and ensure full
potential usage at a suitablelrate cost for all concerned but as a Regeneration Group we will endeavour to do
so for as long as possible. I speak for my fellow Castlewellan Regeneration Ltd directors, we will try
whenever possible to bring about positive change and we will endeavour to continue our work commitments
where possible.
I would like to thank our solicitor Mr Michael Curran Newcastle and our staff who keep the wheels in motion. I
look forward to seeing what the coming year brings but like the years gone by it will not be without change
and possibilities.

Castlewellan Regeneration Limited
Trustee's Annual Report
Year Ended 31 March 2024
Financial Review
The results for the year are set out in detail on pages 9 to 14. The charitable company had an overall loss in
the year of £15,005 (2023 loss.. £27,671) Within the overall loss was a surplus of £8,169 (2023. £5,854
Deficit) in respect of ijnrestricted funds and a deficit of £23.174 (2023- £21,817 deficit} in respect of restricted
funds. At 31 March 2024, the total funds of the charity amounted to £768,672 (2023.. £783,677} comprising
restricted funds of £713,885 (2023. £737,059) and unrestricted funds of £54,787 (2023. £46,618).
Reserves Policy
Sound financial control and a robust policy of charging sensible rates for the use of facilities ensure we have
established a level of reserves to enable the charity to cope with any unforeseen costs that may arise.
Structure, governance and management
Governing document
The organisation is a charitable company limited by guarantee. The company was established under a
Memorandum of Association which established the objects and powers of the chafltable company and is
governed under its Articles of Association. In the event of the company being wound up members are
required to contribute an amount not exceeding £1.
Recruitment and Appointment of Management Committee
A director of the company is also a charity trustee for the purposes of charity law under the company's
Articles. Under the requirements of the Memorandum and Articles of Association the trustees are elected by
the members present at the annual gener81 meeting and shall hold office until the next annual general
meeting.
Risk Management
The trustees have reviewed the major risks which the charity faces and believe that maintaining unrestricted
reserves at the required levels and combined with an annual review of the controls over the key financial
systems will provide sufficient resources in the event of adverse conditions. The company continue5 in its
commitment to meeting the highest standards of good governance and best practice.
Further attention has focused on non-financial risks arising from fire. health and safety and child protection.
A key element in the management of financial risk is the setting of a reserves policy and its regular review by
trustees.

Castlewellan Regeneration Limited
Trustee's Annual Report
Year Ended 31 March 2024
Trustees, responsibilities
Trustee's responsibilities statement
The Trustees Iwho are also Directors of the charity company for the purpose of Company Law) are
responsible for preparing the Trustees. Annual Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in Northern Ireland requires the trustees to prepare financial statements for
each financial year which give a true and fair view of the state of affairs of the charitsble company and of the
incoming resources and application of reSoUr￿S of the charity for that period. In preparing these financial
statements, the trustees are required to=
select suitable accounting policies and then apply them coTrsistently',
observe the methods and principles in the Charities SORP 2019 (FRS 1021.,
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the chaf ity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable
accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities.
Small Companies Exemption
This report has been prepared in accordance with the special provisions for small companies under Part 15
of the Companies Act 2006.
Sign
d on behalf of Ihe board of trustees on
MR EAMONN O'NE
TRUSTEE

Castlewellan Regeneration Limited
Independent Examiner's Report
Year Ended 31 March 2024
Independent Examinerfs Report to the Trustees of Castlewellan Regeneration Limited.
We report on the accounts of the charity for the year ended 31 March 2024 which are set out on pages 9 to
14.
Respective responsibilitles of Trustees and examiners
As the charity's trustees (and also the directors of the company for the purpose of company lawl you are
responsible for the preparation of the accounts in accordance with the Companies Act 2006. Having been
satisfied that the charity is not subject to an audit under company law and is eligible for independent
examination, it is my responsibility to..
Examine the accounts under section 65 of the Charities Act-.
Follow the procedures laid down in the general Directions given by the Charity
Commission for Northern Ireland under section 65(9)(bl of the Charrties Act.. and
State whether particular matters have come to our attention.
Basis of independent examinerfs report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination
was carried out in accordance with the general directions given by the Charity Commissioner for Northern
Ireland under section 65(9)(b> of the Charities Act.
My examination included a review of the accounting records kept by the charity and a comparison of the
accounts presented with those records. It also includes consideration of any unusual items or disclosures in
the accounts and seeking explanats'ons from you as charity directorsltrustees conceining any such matters.
My role is to state whether any material matters have come to our attention giving us cause to believe..
That accounting records were not kept in accordance with section 63 of the Charities Act.,
That the accounts do not accord with those accounting records;
That the accounts do not comply with the accounting requirements of the Charities Act
That there is further information needed for a proper understanding of the accounts to be
reached.
Inde
ndent examin
tement
Ihavec
examina
n and have no concerns in respect of the matters (1) to (41 listed above and,
in connec
ollowing dir
tions of the Charity Commission for Northern Ireland, we have found no
matters
drawing to yo
r attention.
at
Kyran Smyth
Independent Examine
For and on behalf of KPS Chartered Accountants
35 Irish Street
Downpatrick
Co Down
BT30 6BW

Castlewellan Regeneration Limited
ststement of Financial Activities
Year Ended 31 March 2024
Notes
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2024
2023
Income:
Charitable Activities
Grants
Totsl income
87,911
87,911
2,675
90,586
76,678
2,974
79,652
2,675
Expenditure on:
Charitable Activities
Governance Costs
76,859
2,883
25.849 102,708 105,323
2,883
2,000
Total expenditure
79,742
25,849 105,591 107 323
Net incomelexpenditure
Net movement on Funds
8,169
23,174
15,005
15,005
27,671
Reconciliation of Funds
Total funds brought fomard
Net movement in Funds for Year
Total funds carried foNard
46,618
8,169
54,787
737,059 783.677 831,348
23,174
15,005
27,671
713,885 768,672 783,677
All income and expenditure derives from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
The notes on pages 11 to 14 fom) part of these financial statements.

Castlewellan Regeneration Limited
Balance Sheet
Year Ended 31 March 2024
NOTES
2024
2023
Fixed Assets
Tangible Assets
757 892
780 218
Current Asset
Debtors & Prepayments
Cash at bank and in hand
4,812
5,700
16,535
11,589
Creditors:
Amount5 falling due within one year
Net Current Assets l (Liabilitiesl
Total Assets Less Current Liabilities
768,672
783,677
Net Current Liabilities
Amounts falling due after more than one year
Net Assets
Charity Funds
Restricted Funds
Unrestricted Funds
713,885
737.059
Total Charity Funds
For the year ended 31st March 2024 the company was entitled to exemption from audit under section 477 of
the Companies Act 2006 relating to small companies.
Trustees, responsibilities..
The Trustees have not required the company to obtain an audit of its accounts for the year in
question in accordance with section 476 of the Companies Act 2006,. and
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with
respect to accounting records and the preparation of Accounts.
These financial statements have been prepared in accordance with the special provisions relating to
companies, subject to the small companies regime within part 15 of the Companies Act 2006.
AP
ED BY THE BOARD OF TRUSTEES ON .
. AND SIGNED ON THEIR BEHALF BY
MR EAMONN O'NEILL
TRUSTEE
COMPANY REGISTRATION No. Nl 27285
The notes on pages 11 to 14 forni part of these ftnancial statements.
10

Castlewellan Regeneration Limited
Notes to the Financial Statements
Year Ended 31 March 2024
1. Summary of significant accounting policies
{a} BASIS OF ACCOUNTING
Castlewellan Regeneration Limited is a company limited by guarantee in Northern Ireland. In the
event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per
member of the charity.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have
been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ifeland (FRS 102) (Charities
SORP {FRS 1021), Charities Act (Northern Ireland> 2008, the Companies Act 2006, and UK
Generally Accepted Accounting Practice.
The chafity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a
cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The financial statements are prepared on a going con￿rn basis under the historical cost convention,
modified to include certain items at fair value. The financial statements are presented in sterling
which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set
out below. These policies have been consistently applied to all years presented unless otherwise
stated.
(b)
INCOMING RESOURCES
All incoming resources are included in the Statement of Financial Activities when the charity is
legally entitled to income and the amount can be quantified with reasonable accuracy.
(cl
RESOURCES EXPENDED
Expenditure is accounted fr)r on an accruals basis and has been classified under headings that
aggregate all cost related to the category. Vvhere costs cannot be directly attributed to particular
headings, they have been allocated to activities on a basis consistent with the use of resources.
(dl
ALLOCATION AND APPORTIONMENT OF COSTS.
All costs relate to the single activity of the charitable company and are recognised accordingly.
(el
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the
trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted
purposes.
Designated funds are funds set aside by the trustees out of unrestricted general funds for the
specific future purposes or projects
ifj
DEBTORSICREDITORS RECEIVEABLEIPAYABLE WITHIN ONE YEAR
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at Iransaction price. Any losses arising from impairment are recognised in expenditure.
The notes on pages 11 to 14 fonn part of these financial statements.
11

Castlewellan Regeneration Limited
Notes to the Financial Ststements
Year Ended 31 March 2024
(g)
TANGIBLE FIXED ASSETS
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation
and accumulated impairment losses. Cost includes costs directly attributable to making the asset
capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less
estimated residual value, of each asset on a systematic basis over its expected useful life as follows..
Land & Buildings..
Fixtures & Fittings & EqL5ipment'.
Plant & machinery
20h On Cost
15 % Reducing Balance
20°/o Reducing Balance
{h}
LIMITED BY GUARANTEE
The company is limited by guarantee and does not have a share capital.
Income from charitsble activities and grants
2024
2023
Rentsl income
Project income
Grants
86,001
75,566
1,910
1,112
2,675
2,974
90,586
79,652
Income from charitable activities was £87,911 (2023.. £76,678). £Nil {2023'. £Nil) was attributable to restricted
funds and £87,911 12023.. £76,678) was attributable to unrestricted funds. Income from Grants was £2,675
(2023.. £2,974) £2,675 {2023. £2,974) was attributable to restricted funds and £Nil 12023. £Nil) was
attributable to unrestricted funds.
3. Analysis of expenditure on charitable activities
Unrestricted
funds
Restricted
funds
Total
2024
Totsl
2023
Costs Directly Allocated to Activities
Staff Costs
34,906
34,906
32.213
Support Costs allocated to Activities
Rent & Rates
Insurance
Heal & Light
Repairs elc
Postage & Slalionery
Security cost5
Computer software and maintenance costs
Telephone
Bank Fees
Interest
General Expenses
Advertising
Legal & Professional fees
Depreciation
5,329
5.038
13.524
6.175
212
3.110
635
2,585
774
5.329
5,038
13,524
6,175
212
3.110
635
2,585
774
5,463
4,608
20,236
8,467
320
2,300
2,069
623
93
2,420
103
200
26,208
105,323
2.929
74
1.000
3,929
74
1,568
76,859
24,849
25,849
26.417
102,708
Governance Cost
Accountancy
2,883
2.883
2,883
2,883
2.000
2,000
79.742
25,849
105.591
The notes on pages 11 to 14 form part of these financial statements.
12
107,323

Castlewellan Regeneration Limited
Notes to the Financial Statements
Year Ended 31 March 2024
Independent examinerfs remuneration
The independent examiner's remuneration amounts to £2.883 {2023.' £2,000).
5 Tangible fixed assets
Land &
Land &
buildings
buildings
(Cofncrane)
{The Lodge)
Equipment
Total
At 1st April 2023
Addltions
At 3131 March 2024
336,660
838,742
71.174
4,091
75,265
1,246,576
4,091
1,250.667
336,660
838,742
DEPRECIATION
At 1st April 2023
Charge for year
At 318t March 2024
NET BOOK VALUE
159,620
6,733
166,353
250.865
16,775
267,640
55.873
2,909
58.782
466,358
26,417
492,775
At 31st March 2024
170,307
571,102
16,483
757,892
At 31st March 2023
177,040
587.877
15,301
780,218
6 Debtors
2024
2023
Other debtorslPrepayments
4,812
4,812
5,700
5,700
Creditors: amounts falling due within one year
2024
2023
Bank overdraft
VATIPAYE
Accruals and deferred income
Loans and other borrowings
3,017
1,546
3,567
2,188
3,567
5,755
8,130
Creditors: amounts fallin9 due after one year
2024
2023
Loans and other borrowings
The notes on pages 11 to 14 fomi part of these financial statements.
13

Castlewellan Regeneration Limited
Notes to the Financial Statements
Year Ended 31 March 2024
9 Fund reconciliation
Unrestricted funds
Balance at
110412023
Balance at
Transfers 3110312024
Income
Expenditure
General funds
46,618
87.911
79,742
Restricted funds
Balance at
110412023
Balance at
3110312024
Income
Expenditure
Transfers
Community Funding
DAERA
Grants Received
Total
21,450
714,722
887
737,059
(280)
(24,1851
1,384
25.849
21,170
690,537
2,178
713,885
2.675
2,675
Fund descriptions
Unrestricted funds
Comprise funds that the trustees are free to use in accordan￿ with the charity's objectives.
Restricted funds
Financial assistance was received from Keeping Northern Ireland Beautiful and County Down Rural
Community Ne￿Ork to assist with expenditure throughoLtt the year. All grants are subject to terms
and conditions. The company shall be bound to repay the whole amount or part in the event of
conditions being breached.
10 Trustees, and key management personnel remuneration and expenses
The trustees neither received nor waived any remuneration during the year (2023.. £Nil).
The total amount of employee benefits received by key management personnel is
£nil {2023 - £nil}. Key management personnel a￿ considered to comprise the trustees.
No {2023 - none) trustees are accruing pension arrangements.
The trustees did not have any expenses reimbursed during the year (2023 - £nil).
The notes on pages 11 to 14 forni part of these financial statements.
14