COMPANY REGISTRATION NUMBER: N1615294 CHARITY REGISTRATION NUMBER: NIC 100544 Eastside Greenways Company Limited by Guarantee Financial Statements 31 March 2025 Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Eastside Greenways Company Llmited by Guarantee Financial Statements Year ended 31 March 2025 Page Trustees, annual report (incorporating the director's report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) 11 17 Statement of financial position Notes to the financial statements 18 19 Eastside Greenways Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 March 2025 The trustees, who are also the directors for the purposès of company law, present Iheir report and the financial statemènts ol the charity for the year ended 31 March 2025. Relerence and admlnlstratlve detalls Reglstered charity name Eastside Greenways Charity registration number NIC 100544 Company regislratlon number N1615294 Prlncipal office and reglstered Avalon House otllce 2781280 Newtownards Road Belfast Co. Antrim BT41HE The trustees M Gibson E While R Hunter A Hassard J E Hennessey L Osborne C Purdy IR8signed 6 December 20241 Company secretary T Wilson Auditor Finegan Gibson Ltd Chartered accounlanls & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Bankers AIB 11-15 Donegall Square North Belfasl BT15GB Sollcllors Hewitt and Gilpin 8 High Slreet Holywood Co. Down BT18 9AZ Eastside Greenways Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (conllnued) Year ended 31 March 2025 Struclurei governance and management Governlng Document Eastside Greenways is a company limited by guarantee and is a charity recognised by the Charity Commission for Nl. It is a nol for Profit organisation. The company was established under a Memorandum of Association which established the objects and powers ot the company and is governed under its Articles of Association. Appointment of trustees The Chairperson and the trusteès recommend new trustees as needed. New trustees are recruited on the relevance of Iheir skills. and their polenlial to be able to makè a helpful contribution to the governance of the charity. As part of this process they are made aware of a trustee's legal obligations under charity and company law, the content of the Memorandurn and Articles of Association, the decision-making processes, the business plan and recenl linancial performance of the charity- Once the potential nèw trustee has agreed to be considered for appointmenl they can be co-opted by the directors unlil formal voling by members 0￿UrS at the next Annual General Meeting. rrustee Inductlon and tralnlng A trustee induction process is in place for all group compani8S. Oryanlsafion structure andhow charity makes declslons Easlside Greenways is governed by the board ol directors. The company is managed on a day to day basis by a senior managemenl team as appointed by the board of directors. The board of directors meels quarterly. and is appointed by the members at the AGM. A senior management team manages the day lo day activities of the company, and reports on oompany performance to all board meetings. Arrangements forsetting payand remuneration ofkey managementpersonnel The directors consider thè board of directors, who are the charity's trustees, and the senior management team comprise the key management personnel ol the charity in charge of directing and controlling. running and operating the charity on a day lo day basis. All directors give of their time freely and no director received remuneration in the year. Details of directors, expenses and related party transactions are disclosed in note 13 and nole 20 lo the accounts. The pay of the senior staff is set by reference to external guidance and utilisation ol pay scales. In view of the nature of the charity. the directors benchmark against pay levels in other similar size charitie5 run on a voluntary basis when appointing new members of key management. Eastslde Greenways Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (rontlnued) Year ended 31 March 2025 Structurey governance and management (conHnu8d) Relafionships with related parties None of our trustees recèlve remuneration or other benefit from their work with the charity. Rlsk management The company aims to mitigale the major rlsks it faces by Implementation of the following procedures:_ Significant external risks to funding have led to the development of a strategic plan which cleady identifies funding requirements going forward., and Internal control risks are minimised by the implementation of procedures lor authorisation ot all transactions with a financial implication. Dlrectors The directors serving durlng the year wer8 as follows.'- M Gibson A Hassard E White R Hunter J E Hennessey L Osborne C Purdy Eastside Greenways Company Limited by Guaranlee Trustees. Annual Report {Incorporatlng the Dlrector's Report) {eonllnuedJ Year ended 31 March 2025 Objectives and actlvltles The Vision of Eastside Greenways is lo support the development and use of the Connswalèr Community Greenway (CCGI as, 'An inspirational living landmark thal is well used. vibrant. dynamlc and sustalnable. An attractive destination ol outstanding quality for everyone lo enjoy., The key lo achieving this will be the ability lor people lo live healthier lilesiyles in an improved physical environment, and enjoy the benefits of a safer, cleaner, greener area valued by all residents and one that is attraclive to visitors. Eastside Greenways supports the positive use of the CCG as a calalyst for the ongoing regeneralion of the area making east Bellast greener, safer, cleaner, whilst connecting people and places and making it attractive lo visitors. Eastsidè Greènways will optimise available resources. opportunities, expertise and influence. The role of Eastside Greenways is to provide leadershlp. vislon and coordlnatlon. and in partnership with Belfasl City Council and others to provide funding io deliver Belfasfsl Nl's leading greenway. Easlside Greenways is committed lo ensuving that Connswater Community Greenway is of a World Class standard and to maximise the opportunities it can bring to ihe city. Working with other key partners. Eastside Greenways works to maximize the social. cultural, economic and environmental outcomes. improving the quality of lrfe for thousands ol local people. ensuring the ongoing animation and suskinability of the CCG. Eastside Greenways does this by. Delivering programmes and projects on the CCG., Facilitating and initiating further development of the Greenway. Coordinating and connecting various stakeholders and partners on the CCG,. Encouraging others to develop and provide seNices on the CCG., and Advocating for influence and investment. In its establishment as a charity, Eastside Greenways recognises the potential to build on Ihe success and lessons learned from the Connswater Community Greenway by delining its object., 'To promote the use and sheer enjoymenl of green open space5. parks, gardens, rwers and off - road transport roules in East Belfast and its environs and the sustainable planning, design, management. maintenance and improvemenl of them for the benefit ol the public., It is Eastside GreenWa￿S ambition to build on the success of the Connswaler Community Greenway by promoling and facilitating the delivery of a network of greenways across east Belfasl. that will inlegrale in lo city and regional nelworks known as the 'EastSide Greenways, concept plan. Eastside Greenways works in partnership with Belfasl City Council to deliver the CCG underpinned by a Memorandum of Understanding and a legal agreement which was confirmed in 2020. The company employed 4 full time members of 5talf during the course of the year, and managed a team of 6 Greenway Leaders and volunteers. Eastside Greenways Company Limlted by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (eonllnued) Year ended 31 March 2025 Achlevements and pertormance The CCG was a £40m capital project which was constructed in phases. Phase 1 of the project {Orangefield and Victoria Parkl was completed in 2014, with Phase 2 completèd in April 2017. The completed greenway was officially launched in September 2017. The project is currently in delivery phase. making the most ol ils potèntial to dèliver soclal. economlc and environmental outcomes lor long term sustainability. Eastside Greenways Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (willnued) Year ended 31 March 2025 Achlevements and performance (eonllnued) Publlc benellt report The work of Eastside Greenways was delivered under the below workstreams I themes to achieve the Trust's ambition. Communlty and stakeholder engagement, promoting community development. community coheslon and volunteerlng ESG continue to attènd stakeholder and community forums in east in order to engage with the community widely. ESG continue to attend,. Youth Practitioners Forum, Communty Devèlopment Café. Street Work forum, Health Forum and Demenlia Fri8ndly East Bellast. The annual animation programme was delivered to support the positive use of the Connswater Community Greenway and support the strategic aims of the project. Throughout the year we delivered. Schools engagement. We supported a careers day in a local prlmary school focusing on environmenlal careers. Spring aclivities include Duck race, Community clean ups. Delivered Summer Activity programmes which included Pilales and Baby Boogie. Delivered largeted lamily activsty sessions at Flora St Play Park. Supported ESL Summar Schemè programme. Delivered 'Livino the Green Way, Fayre. Supported community events at C.S. Lewis Square. Supported the July Diversionary events. Supported events as a part of the annual C.S. Lewis Festival. Delivered the annual Bird Day event. Delivered ParkFest as part of Eastside Arts Festival. Wildlife Wanders, a foraging walk and bal walks conlrnued on the CCG. Supported monlhly bird watching group. Weekly Walk Wednesdays and Gentle Walk continued. Our Adopt a Spot residenls carried out community clean ups on the Greenway. Nature Neighbourhood Project has continued with great success, enabling connection with eighteen community based organisations across th8 UK. Blossom Project continuèd again in April. Advancing educatlon to create Tralnlng and Development opportunllles, pmtect and enhance open and green spaces Greenway Leaders continue to support at events and activities as well as carrying oul an 'Out and About, role. The 'Out and About. role includes engagemenl with users, observing and reporting any issues and carrying out litter picks. Monthly Kick Sampling sessions continue take place. This allows us to gather data on the quality of the water in the river along the Greenway. Legacy Project conlinues going strong which is a youlh development programme working with young people aged 16-25 from East Belfast, not currently in full tirne education or employment. We have a full lime and part time stalf member dedicated to this and have recruited young people who have gained accredited and non accrediled training, volunteering, personal development and career development support. Eastside Greenways Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Director's Report) (gontlnuedj Year ended 31 March 2025 Achlevemenls and performance (contlnu8d) Economlc regeneratlon through Tours, Herttage, Tralls Development and improving public access to the arts The annual Eastside Arts Feslival took place Including in person events. The Greenway was well utilised for ouldoor events throughout the feslival. The annual C.S. Lewis Festival look plac8 Wlth actlvlty focused on C.S. Lewis Square as a venue. Seasonal Fayres continue to happen. We supported the Belfast Intemalional Arts Festival performance in C.S. Lewis Square. We supported the July Dlversionary events at C.S. Lewis Square and art workshops on the Greenway. Promotlng use of the Greenway through marketlng and communlcatlons. events. Inforniatlon sharlng and awareness ESG have hosted vislts and presentations on CCG to a variety of oroanisations including University of Ulster. QUB students and more. As always we spoke to students undertaking dissertations and wer8 asked to speak at mulliple webinars throughout the year. In recent years. issues such as climate change and building healthier, resiliènl and suslalnable communities have come to the fore, further highlighted by strategic plans such as Bèllast City Council's Resilience Slralegy. Easlside Greenways and the Connswater Community Greenway are being highlighied by many organisations as an exemplar projecl in relation to irnproving urban green and blue spaces as well as engagemenl with local communities around the topic ol climate change. ESG is a key partner in the Groundswell Consortium which is led by QUB in Belfast but also includes universities and partners from Edinburgh and Liverpool. This will lead to the d8velopment ol new academic research, a model of best practice and the next phase of the PARC study, an impact evaluation study ol CCG since opening in 2017. With a focus going forward on income generation, Easlside Greenways has developed a new Go Greenway Campaign which has clarified messaging around income generation for ESG as an organisalion and promotes donalions. membership models. evenl booking. business partners and more. ESG has developed a new report Access and Inclusion on CCG alongside QUB and organisations working in the area ol access and inclusion such as Mae Murray Foundation, Disability Sport Nl. Age Nl, Brain Injury Matters. Orchardville and more. Promoting the enhancemenl and improvement ol the Greenway routes physical 8¢tlvity and health Ea5tSide Greenways continue to facilitale the city wide Greenway Development Group which includes representation from; Belfasl Harbour, Sustrans. DFI, Belfast City Council and West Belfast Partnership Board. The group met 3 limes this year. ESG has been communicatèd with and included in consultations around various developments in CCG including the Sydenharn Greenway, Montgomery Road and Island Street. Eastside Greenways Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) {c<￿11n￿e￿I Year ended 31 March 2025 Achievements and performance {contlnuodJ The land adjacenl to Connswater Community Centre including the car park has been identified for an upgrade as part of the CCG capital underspend which would Complement C.S. Lewis Square and the wider Holywood Arches area. The weekly park runs continue al Orangefield and Victoria Park, The work of ESG constantly revolves around engagement in active travel and using the Greenway. We provide a summer programme of outdoor activity and continue to provide events and opportunities as requested by local community and organisations. Flnanclal revlew The results for the year are set out in detail on pages 17 & 18. The company returned a deli¢it for the year of {£116.956}12024-. £112.289 deficit) At 31 March 2025, the total lunds of Ihe charty amounted to £518.769. (2024: £635,725). comprising restricted funds of £20,755 12024- £19,323), unrestricted funds 01 £74,907 {2024.' £49,528) and endowment fund of £423.10712024: £566,874). The unrestricted funds are essential to provrde sufficient funds to cover any unforeseen costs which may arise and fulfill the legal obligations of the charity in the event that current levels of incomg are not mainlained. In February 2020 an award was made by Bellast City Council ol endowmenl funding for the continuance of the work of Eastside Greenways. The funding was agreed by the National Lottery Communities Fund as the remainder of their original award towards the dèvelopment ol the project. and is to be used by the company in pursuit of its strategic objeclives for the long term delivery of the Connswater Community Greenway and the Eastside Greenways plan. Investment powers andpojicy The directors. having regard to the liquidity requirements of the organisation and lo the reserves policy, will operate a policy of keeping available funds in an interést-bearing deposit account. Reserves policy and going concern A policy has bèen implemented by the company in order to recognise the charity's requirements for reserves in light of the main risks to the organisalion. It has established a policy whereby the unrestricted funds not committed should equate to between 25Yo and 50Yo of annual administration overheads. The aim is lo provide sufficienl funds lo cover any unforeseen costs which may arise. as well as allowing for the payment ot any liabilities which would arise should the company cease to operate. The company recognises that in its initial years of operation that such largets may remain aspirationai. Plans for future periods The chaTty plans conlinuing the activities outlined above in forthcoming years subject lo satisfactory funding arrangements. Eastside Greenways Company Limited by Guarantee Trustees. Annual Report {Incorporatlng the Director's Report) (conllnued) Year ended 31 March 2025 Trustees. r8sponslbllltles statemènt The trustees, who are also directors for the purposes of company law. are responsible for preparing the Injstees, report and the linancial statements in accordance with applicable law and United Kingdom Accounting Standards (United lfjngdom Generally Accepted Accounling Practice). Company law requires the charity trustees lo prepare financlal stalements 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. including the income and expenditure, for that period. In preparing these financial statements, Ihe trnstèes are required to.. select suitable accounting policies and then apply thern consistently. observe the methods and principles in the applicable Charilies SORP. make judgments and accounting estimates that are reasonable and prudent., prepare the financial slalements on the going concern basis unless it is Inappropriate to presume that the charity will conlinue in business. The trustees are responsible for keeping adequate accounting records that arè sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position ol the charity and enable them lo ensure thal the linancial staternenls 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 prevenlion and detection of fraud and other irregularities. Audltor Each of th8 persons who is a trustèe at the date ol approval of this report conlimis that: so far as they are aware, there is no relevant audit information ot which the charity's auditor is unaware. and they have taken all steps Ihal they ought to have taken as a trustee to make thernselves aware of any relevant audit information and to establish thal the charity's auditor is aware of Ihat informalion. Small company provlslons This report has been prepared in accordance with the provisions applicable to companies entitled lo the small companies exemption. Eastside Greenways Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Direclor's Report) (C￿lIn1￿4) Year ended 31 March 2025 The trustees, annual ￿port was approved on 11 December 2025 and signed on behalf of the board ol trustees by.. T Wilson Charity Secretary 10 Eastside Greenways Company Llmiied by Guarantee Independent Auditor's Report to the Members of Eastside Greenways Year ended 31 March 2025 Opinion We have audited the financial statements of Eastside GreenYRys (the 'charity'l for the year ended 31 March 2025 which comprise the slatement of financial activities (including income and èxpendituré account), slalement ol linancial position and the related notes, including a summary of significant accounting policies. The linancial reporting Iramework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK arKI Republic of Ireland (United Kingdom Generally Accepted Accounting Practicè). In our opinlon the financial slalements: give a true and fair view of the stale of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources. including its income and expenditure. for the year then ended., have been properly prepared in accordance with UnTted Kingdom Genèrally Accepted Accounling Praclice., have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial ￿atements section of our reF)Ort. We are independent of the charity in accordance wilh the ethical requirements that are relevant to our audit of the financial statements in Ihe UK. including the FRC'S Ethical Standard. and the provisions available for small entities. in the circumstances set out below, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audil evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. APB Ethical Standard - Provisions available lor small entities In Common with many other organisalions ol a similar size and nalure, the charity uses its auditors lo prepare and submit returns to the lax authorities and assist with the preparation of their organisation's financial statements. Conclusions relatlng lo golng concem In auditing the financial statements. we have concluded that ihe Iruslees. use of the going ¢on¢em basis ol accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identifietj any material uncertainties relating to events or conditions ihat, individually or collectively. may casl significant doubt on Ihe charity's ability to continue as a going concern for a period ol at least ￿e1ve month5 from when the financial statements are authorised for issue. Our responsibilities and the responsibililies ot the trustees with respect to going concern are described in the relevanl sections of this report. 11 Eastside Greenways Company Llmlted by Guarantee Independent Auditor's Report to the Members of Eastslde Greenways (eoftllnuad) Year ended 31 March 2025 Other Information The other infomation comprises the information included in the annual report, other than the flnancial statements and our auditor's report thereon. The trustees are responsible for the other informalion. Our opinion on Ihe financial statements does not cover the other information and, except lo the extent otherwise explicitly slated in our report. we do nol express any form of assurance conclusion thèreon. In connection with our audit of the linancial slalements, our responsibility is to read the othèr informalion and. in doing so. consider whether the other inlormation is materially inconsistent with the financial statements or our knowledge oblaned in the audit or otherwise appears to bè matèrially misstated. If we identify such material inconsistencies or apparent material misslalements, we are required to determine whelher there is a material misstatement in the financial statements or a malerial misstatemenl of the other infomation. If, based on the work we have p6rlomed. we conclude that there is a malerial misstatement ot this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in thè trustees, report for the financial year for which the financial statements are prepared is consistent with the financial stalements. and the Irustees. report has been prepared in accordance with applicable legal requirements. Malters on whlch we are requlred to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the Course of the audit, we have nol identified material misstatements in the trustee5' report. We have nothing to report in respect of the following matters in rèlation lo which the Companies Act 2006 requires us to report to you it, in our opinion.. adequate accounting records have not been kept, or returns adequale for our audit have not been received from branches not visited by us- or the Ilnancial stat8rnent5 are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneralion specified by law are not made. or we hav8 not received all the information and explanations we require for our audit., or the tmstees were not entitled lo prepare the linancial statements in accordance with Ihe small companies regime and take advantage of the small companies, exemptions in preparing the dlrectors, report and from the requiremeni to prepare a strategic report. 12 Eastside Greenways Company Llmlted by Guarantee Independent Auditor's Report to the Members of Eastside Greenways (conllnued) Year ended 31 March 2025 Responsibilities ol twstees As explained more fully in the Iru5tees' rèsponsibilities stalement. the trustees (who are also Ihe directors for the purF4JS8S of company law) are responsible for the preparation of the financial statements and for being salisfied that they give a true and lair view. and for such intèrnal control as the Iruslees determine is necessary to enabl6 the preparation of financial statements that are free from material misstalemenl, whether due to fraud or error. Our responsibility is to audit and express an opinion on the financial slalements in accordance with applicable law and International Standards on Auditing (UKI. Those standards require us to Comply with the Financial Reporting Council's (FRC'S) Ethical Standard lor Auditors,. in the circumstances set out in nole 21 to the financial slatements. In preparing the financial statements, the trustèes are responslble for assessing the Charity's ability to continue as a going concern, disclosing. as applicable, matters related lo going concern and using the going concern basis of accounting unless the trustees either int8nd to liquidale the charity or to ¢ease operations, or have no rèalistic alternative but to do so. 13 Eastside Greenways Company Llmlted by Guarantee Independent Auditor's Report to the Members of Eastside Greenways (cgnttnued) Year ended 31 March 2025 AudltoVs responsibilities for the audlt of the flnanclal statements Our objectives are to obtain reasonable assuranc8 aboLrt whèther the financial statements as a whole arè free from material misstalement. whether due to fraud or èrror, and to issuè an auditor's report that includès our opinion. Reasonable assurance is a high level of assurance, but is not a guaranlee that an audit conducted in accordance with ISAS {UKI will a￿ayS detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design pmcedures in line with our responsibilities, outlined abovè, to delect material mis5talements in respect irregularities. including fraud. The èxlènt to which our procedures are capable ol detecting irregularities, including fraud is detailed below- In identifying and assessing risks of materfal misstatemènt in resFect of irregularities, including traud and non-compliance with laws and regulations, we considered the following: the nature of the IndU￿ry and seclor, control environment and business performance including the design of the remuneration policies, key drivers for director5, remuneration, bonus levels and pertormance targets- resulls of our enquiries of management about their own identification and assessment of Ihe risks of irregularities. any rnatters we identified having obtained and reviewed documentation of their policiès and procedures relaling to: idenlilying. evaluating and complying with laws and regulations and whether managemenl were aware of any inslances of non-compliance- detecling and responding to the risks of fraud and whether management have knowledge of any actual. suspected or alleged fraud., the internal controls established to mitigat8 risks of fraud or non￿Omplianc8 with laws and regulations. the matters discussed among the audit engagement tearn including significant comwnent audit teams and relevant intemal specialists, including tax and valuations specialists regarding how and where Iraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may 8XlSt within lh8 organisation lor fraud and identified the greatest potential for fraud. In comrnon with all audits under ISAS (UK), we are dso required to perform specific procedures to respond to th8 risk of rnanagement override. We also obtained an understanding of the legal and regulalory frameworks in operation. focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included ongoing compliance with the UK Companies Act arKJ tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements bul compliance with which may be lundamental lor their ability to operate or to avoid a material penalty. 14 Eastside Greenways Company Limited by Guarantee Independent Audltor's Report to the Members of Easlside Greenways (eondnued) Year ended 31 March 2025 As part of an audit in accordance wilh ISAS {UK), wé exercise professional judgment and mainlain prolessional scepticism throughout the audit. We also- Idenlify and assess the risks ot malerial misstalement of the financial statements. whether due to fraud or error, design and perform audit procedures responsive to those risks. and oblain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not delecting a material misstatement resulting from fraud is higher than for one resulling from error, as fraud may involve collusion, forgèry, intentional omissions, misrepresentations, or the override ol internal control. Obtain an understanding ol internal control relevant to the audit in order lo design audit procedures thal are appropriate in the circumstances. but not for the pU￿OSe of expressing an opinion on the effectiveness of the intemal control. Evaluats the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the truslees, use ol the going concern basis of accounling and. based on the audit evidence oblained, whether a material uncertainty exisls related lo events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exisls, we are required to draw allention in our auditor's report lo the related disclosures in the financial statemenls or. if such disclosures are inadequate. to modify our opinion. Our conclusions are based on the audit evidence obtained up to the dale of our audilor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation. structure and conlent ol the financial staternents. including the disclosures. and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate wtth those charged with governance regarding, among other matters. th8 planned scope and timing of the audit and signilicant audit findings, including any significant deficiencies in internal ¢ontrol that we idenlity during our audit. 15 Eastside Greenways Company Llmlted by Guarantee Independent Auditor's Report to the Members of Eastside Greenways feontlnued) Year ended 31 March 2025 As explained more fully in the Trustees. Responsibilities Statement Isel oul on page 10 I, the Iruslees are responsible for the preparation of the financial statements and for being satisfied thal they give a true and lair view. Our responsibility is to audit and express an opinion on the financial statemenls in accordance wilh applicablè law and International Standards on Auditing {UK). Thosè standaids require us to comply with the Financial Reporting Council's {FRC'sl Ethical Standard for Auditors,, in the circumstances set out in note 21 to the linancial statements. Use ot our report This report is made solely to the charity's mombers. as a bcldy, in accordance with Chapier 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so thal we might state to the charity's members those matters we are required to slate to them in an auditor's 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 members as a body. for our audit work, for this report, or for the opinions we have formed. Paul Dolan (Sènior Statutory Auditor) For and on behalf ol Finegan Gibson Ltd Chartered accountants & statutory audilor Causeway Tower 9 James Street South Bellast BT2 8DN 11 December 2025 16 Eastslde Greenways Company Llmited by Guarantee Statement of Financial Activities (Includlng Income and expendlture account) Year ended 31 March 2025 2025 Unreslricted Reslricted Endowment lunds funds funds Total funds Total lunds 2024 Not8 Income and endowments Donations and legacies Charitable activities Other trading activities Investment income 989 5.000 5.938 18,313 30,240 989 110,227 5,938 18,313 135.467 628 94,647 7,410 4,904 107,589 105,227 Tolal Income 105,227 Expendilure Expendilure on charitable activities 4,861 4.861 103,795 103,795 143.767 252.4 219,878 219,878 Tolal oxpendltura 143,767 252.423 Net expendlturè and nel movement in funds 25,379 1.432 1143,767) (116,9561 (112.289) Reconclllatlon ol funds Total funds brought forward Tolal funds carried forward 49,528 19.323 566,874 635,725 748.014 74,907 20.755 423,107 518.769 635.725 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pageg 19 to 27 form part of these flnanclal statements. 17 Eastside Greenways Company Llmlted by Guarantee Statement of Flnanclal Posltlon 31 March 2025 2025 2024 Nolg Curront assets Debtors Cash al bank and in hand 14 44,450 483,393 527.843 23,288 636.487 659,775 Credltors". amounts falllng due withln one year Net current assel$ 15 9,074 24,050 518,769 635,725 Total assots less ¢urrent Ilabillties 518,769 635,725 Net assets 518,769 635,725 Funds of the charlty Endowment tunds Reslricled funds Unr6S1ricied funds 423,107 20,755 74,907 566,874 19,323 49,528 Total ¢harlty funds 17 518,769 635,725 These financial slalements have been prepared in accordance with the provisions applicable lo companies stjbject lo the small Companies, regime. Thése linancial statements were approved by the board ol trustees and auihorised lor issue on 11 December 2025, and are signed on b8hall ol ihe board by- kftffiiAJ I? fRuiT CC The noteg on pages 19 10 27 lorm p8rt ol thèse Ilnanelal stBtèmenlS. 18 Eastside Greenways Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 General Informatlon The charity is a public benefit entity and a prlvate company limited by guarantee, registered in Northèrn Ireland and a registered charity in Northern Ireland. The address of the regislered office is Avalon House, 2781280 Newtownards Road, Belfasl, Co. Anlrim, BT4 1 HE. Statemenl ot compllance These financial statements have been prepared in compliance with FRS 102. The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {Charities SORP (FRS 102)) and the Companies Act 2006. Accountlng pollcles Basls ol preparatlon The financial statemenls havè been prepar8d on the historical cost basis. as modilied by the revaluation of certain financial assets and liabilities and investmeni properties measured al fair value through income or expendilure. The financial statements are prepared in sterling, which is the lunctional currency of the entity. Going concern There are no material uncertainties about the charitys ability to continue. Dlsclosura exemptlons The entity salisfies the criteria of being a qualitying entity as detined in FRS 102. As such, advanlage has been taken of the ft)Ilowing disclosure exemptions available under paragraph 1.1201 FRS 102: lal No cash flow statem8nt has been presented for the company.Ib) Disclosures in rèspect of financial instruments have not been presented. Judgements and key sources of estimalion uncertainty The preparalion of the financial ￿ateMentS require5 management to make judgements. estimales and assumptions that affect the amounts reported. These estimates and judgemonts are continually reviewed and are based on experience and other factors, including expectations of lulure events thal are believed to be reasonable under the circumstances. Fund accounllng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designaled funds are unrestricted funds earmarked by the trusteès for particular futura projects or commitments. Restricted funds are subject to restrictions on their expenditure declared by trte donor or through the lerms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds 19 Eastside Greenways Company Llmlted by Guarantee Notes to the Financial Statements (conllnuedj Year ended 31 March 2025 Accounting policies (￿ntInUed) Incoming resoU￿e$ All incoming resources are included in the statement of financial activities when entitlement has passed to Ihe charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specilic policies are applied to particular categories ol income: income from donations or grants is recognised when there is evidence of entitlement to the gift. receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entillement is established. income from donated goods is measured al Ihe lair value ol ihe goods unless this is impractical to measure reliably, in which case the value is derived from Ihe cost to the donor or the estimated resale value. Donaled lacililies and seNices are recognised in the accounts when recewed if the value can be reliably measured. No amounts are included lor the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted seNice. This is classified as unreslricted funds unless there is a conlraclual requirement for it lo be spent on a particular purpose and returned if unspent. in which cas6 it may be regarded as restricted. Resources expended Expenditure is recognised on an accruats basis as a liability is incurred. Expenditure include5 any VAT which cannot be fully recovered. and is classified under headings ol the sktement of financial activilies to which it relates: expenditure on raising funds includes ihe costs of all fundraising activities. events. non-charitable Irading activities, and the sale of donated goods. expenditure on charitabl8 activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneticiaries. including thos8 support costs and costs relating to the govemance of the charity apportioned to charitabl8 activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part ol its expenditure on oharilable activities. All costs are allocated to expenditure categories reflecting Ihe use of the resource. Direct costs attributable to a single activity are allocated directly lo that activity. Shared costs are apportioned between the activities ihey contribute lo on a reasonable. justifiable and consistent basis. Flnan¢ial instruments A financial asset or a financial liabilily is recognised only when the Charity beGomes a paty to the contractual provisions of the instrumenl. Eastslde Greenways Company Limited by Guarantee Notes to the Financial Statements (conllnuedj Year ended 31 March 2025 Accountlng pollcies (¢ontlnuedJ Financial Instruments (contlnued) Basic financial instruments are initially recognised at thè amount receivable or payable including any related Iransaction costs. Current assets and current liabilities are subsèquenlly measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where inveslmenls in shares are publicly traded or their falr value can otherwise be measured reliably. the investment is subsequently measured at fair value with Changes in fair valuè recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Olher financial instruments. including derivatives. are initially recognised at fair value, unless paymenl lor an asset is deferred beyond normal business temis or linanced at a rate of interest thal is not a market rate. in which case the assel is measured al the present value of the fLrture payments discounted at a market rate of interest lor a sirnilar debl instrument. Olher financial instruments are subsequently measured at fair value, with any changes recognised in ihe slatement of financial aclivities, with the exception ol hedging instruments in a designated hedging relationship. Financial assets that are measur8d at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. It there is objective evidence ol impairment, an impairment loss is recognised under the appropriate heading in the statgrnent of financial aclivities in which Ihe initial gain was recognised. For all equity instruments regardless of signlflcance. and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individualty or grouped on the basis of similar credit risk Gharacleristics. Any reversals of impairment are ￿COgnised immediately. to the extent ihat Ihe rèversal does not resutt in a carrying amount of the financial asset thal exceeds what the carrying arnount would have been had the impairment not previously been recognised. Detined ¢ontribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to th8 ext8nt that the prepaymenl will lead to a reduction in future payments or a cash refund. When contribulions are not expected to be settled wholly within 12 month5 of the end of Ihe reporting date in which the employees rendèr the relaled service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which il arises. 21 Eastside Greenways Company Limlted by Guarantee Notes to the Financial Statements fconllnued) Year ended 31 March 2025 Llmlted by guarantee The Charty is a company limited by guarantee and every member undertakes to contribute lo the assèts ol the company in the event of it being wound up, while being a member or within one year after ceasing lo be a member. such amount as may be require(I not exceeding £1. Donatlons and legacles Unrestricted Tolal Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donalions Donations 989 989 628 628 Charltable acttvities Unrestricted Reslricted Tolal Funds Funds Funds 2025 Belfast City Council International Fund National Trust QUB - Groundswell Consortium 10.495 78,782 6,250 9.700 10,495 78,782 6,250 14,700 5.000 5,000 105.227 110,227 Unrèstricted Funds Restricted Total Funds Funds 2024 Belfast City Council Intemational Fund National Trust QUB- Groundsw811 Consortium 5,496 66,651 22,500 5,496 66,651 22,500 94,647 94,647 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Int8rcornpany Income Sponsorships Olher income 1.250 2.346 2.342 1,250 2,346 2,342 7.410 7.410 5.938 5,938 7.410 7,410 Eastside Greenways Company Limited by Guarantee Notes to Ihe Flnancial Statements Icontlnued) Year ended 31 March 2025 Investmènl Income Unrestricted Tolal Funds Unrestricted Total Funds Funds 2025 Funds 2024 Bank interest receivable 18.313 18,313 4.904 4,904 Expenditure on charltable actlvitles by actlvlty type Activities undertaken directly Support costs Total funds 2025 Total fund 2024 Promotion of thè Usè of Connswater Community Greenway Other grant programm8S PYDP Programme Governance Costs 121,803 25,419 74,657 24.916 146,719 25,419 79,625 660 122.175 8,494 88,579 630 4,968 660 221,879 30,544 252.423 219,878 10. Anatysls ol support costs Analysis of support costs Tolal 2025 Total 2024 Premises General office Finance costs Governance costs 23,793 491 5.600 660 23,793 491 5,600 660 21,304 555 7,600 630 30,544 30,544 30,089 11. Audltors remuneratlon 2025 2024 Fees payable for the audit of the financi￿ statements 660 630 12. Slaff cosls The total staff costs and employee beneffts for the reporting period are analysed as follows: 2025 2024 Wages and salaries Social security costs Employer conlributions to pension plans 130,485 12,251 9.318 121,796 10.307 8.211 152.054 140,314 Eastside Greenways Company Limlted by Guarantee Notes to the Financial Statements (conllnued) Year ended 31 March 2025 12. Staff costs (coftllnugdj The average head count of employees during the year was 11 12024.. 10). The average number ol lull-time èquivalent employees during the year is analysed as follows: 2025 No. 2024 No. Full time employees Part lime employees 11 10 No employee received employee benefits of more than £60.000 during the year {2024: Nil). 13. Trustee remuneratlon and expense8 The Charity Trustees were not paid or received any other benefits from employment with the Charity in the year12024- £NILI. No Chartty Trustee received payment for professional or other services supplied to Ihe Charity12024: £NIL). 14. Debtors 2025 2024 Trade debtors Amounts owed by group undertakings Prepaymenls and accrued income 15,950 13.441 15,059 2,886 20,402 44,450 23.288 15. Credltors: amounts lalllng due wlthln one year 2025 2024 Trade creditors Amounts owed lo group undertakings Accruals and deferred income Olher creditors 2,348 6,326 400 5.283 17.789 400 578 9,074 24,050 16. Pensions and other posl retlrement beneflts Deflned ¢ontribution plans The amount recognised in income or expenditure as an èxpense In relation to d8lined ontribution plans was £9.31812024: £8.211 }. Eastside Greenways Company Llmited by Guarantee Notes to the Financial Statements (eOnllnu￿j Year ended 31 March 2025 17. Analysis of charitable fund$ Unrestricted lunds At 1 April 2024 A131 Income Expenditure March 2025 General fvnds 49,528 30.240 {4,861) 74.907 At 1 April 2023 At31 Income Expenditure March 2024 Genèral funds 36.586 12,942 49.528 Restrlcted funds At 1 April 2024 At31 Incorne Expenditure March 2025 Belfast City Council - Get active on Greenway BCC Greenway Celebrations Internalional Fund Belfast City Council - Sports National Trust Belfast City Council-Particiatory Budgeting Belfast City Council - Parks QUB Innovation Fund 296 (475) 296 {1.319} 78.782 1,395 6.250 (79,626) 11.3951 15,894} 19,502 19,858 6,160 2,940 9,700 105,227 14.240) (2.940) (9.700) {103,795) 1,920 19,323 20.755 At 1 April 2023 At31 Income Expenditure March 2024 Belfast Cty Council - Get active on Greenway BCC Greenway Celebrations Intemational Fund Belfast Csty Council - Sports National Trust Belfast City Council-Par1iciatory Budgeting Belfast City Council - Parks QUB Innovation Fund 1.500 3,000 66.651 {1,500) (3,000) {88,5791 296 21,453 296 14751 22.500 {2,9981 19,502 996 19961 21,749 94.647 197.073} 19,323 25 Eastside Greenways Company Limlted by Guarantee Notes to the Financial Statements (¢ontlnued) Year ended 31 March 2025 17. Anatysls ol charitable funds (oonllnued) International Fund for Ireland reslricled lund is in deficit of £1,319 at 31 st March 2025 due to timing differences be￿een expenditure being incurred and funding being drawn down Irom the funder. Endowment tunds At 1 April 2024 At31 Income Expenditure March 2025 Belfast City Council 566.874 (143,767) 423,107 At 1 April 2023 At31 Income Expanditure March 2024 Bèlfast City Council 689.679 (122,805) 566.874 In February 2020 an award was made by Belfast Cty Council of endowment funding for the ontinuance of the work of Easlside Greenways. The funding was agreed by Ihe National Lottery Communities Fund as the remainder ol Iheir original award towards the development of the project, and is to be used by the company in pursuit of its strategic objectwes for the long term delivery of the Connswater Community Greenway and the Eastside Greenways plan. 18. Analysis of net assels between lunds Unrestricted Restricted Endowment Total Funds Funds Funds Funds 2025 Current assets Creditors less than 1 year Net assets 75.772 {865) 74.907 22.282 (1,527) 20,755 429.789 16.682) 423,107 527,843 {9.074) 518,769 Unrestricted Funds Rèstrictèd Endowment Total Funds Fund5 Funds 2024 Current assets Creditors less than 1 year Net assets 63,452 (13,924) 49.528 22,341 (3,018) 19.323 573,982 {7,108) 566,874 659,775 (24,050) 635.725 19. Taxatlon The Charity's activities fall within the exemptlons afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts. Eastslde Greenways Company Llmlted by Guarantee Notes to the Financial Stalements (eonllnu•dJ Year ended 31 March 2025 20. Related party transactions The company has taken exemption from discloslng related party transactions wlth other group entities under section 33 of FRS102. There are no other related paty transactions to disclose for 2023124 or 2024125. 21. Ethlcal standards In common with many other businesses of our size and nature we use our auditors to prepare and submil relurns to the tax authorities and assist with the preparation of the financial statements. 22. Conllngencles A contingent liability exists to repay grants received should certain conditions not b8 fulfilled by the charity. In the opinion of the Trustees, the lerms of the lelters of offer have been, now will be, complied with and no liability is expected.