COMPANY REGISTRATION NUMBER: N1029207 CHARITY REGISTRATION NUMBER: XR741101100579 Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Unaudited Financial Statements 28 February 2025 S O'NEILL & COMPANY Chartered accountants 14 Main Street Toomebridge Co. Antrim Northern Ireland BT413TQ
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Financial Statements Year ended 28 February 2025 Page Trustees, annual report (incorporating the director's report) Independent examineffs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows 10 Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 11 24 Notes to the detailed statement of financial activities 27
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 28 February 2025 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 28 February 2025. Reference and administrative details Registered charity name Toomebridge Industrial Development Amenities and Leisure Limited Charity registration number Company registration number N1029207 Principal office and registered Toome House office 55 Main Street Toomebridge Co Antrim BT413TF XR741101100579 The trustees Mr Henry Marron (Treasurer) Mr John Lavety {Chairman} Mr James Thornton (Assistant Treasurer) Mr James Woolsey Mr Peter McLernon Mr Kyle Johnston Mr James McGee (Appointed 1 November 2025) Company secretary Mrs Una Johnston Independent examiner S O'Neill & Company 14 Main Street Toomebridge Co. Antrim Northern Ireland BT413TQ
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 28 February 2025 Structure, govemance and management A Company Limited by Guarantee. The Executive Committee present their report and the financial statements for the year ended 28 February 2025. Toomebridge Industrial Development Amenities and Leisure Limited (TIDAL) is a company limited by guarantee, governed by the Memorandum and Articles of Association. The day to day decision making is undertaken by the Development Officer under the guidance of the Chairman. Decisions of strategy and policy making are taken by the full Board of Trustees with financial matters being addressed by the Company Treasurer and Assistant Treasurer as outlined in the Corporate Governance Procedures and Controls Report. It is the responsibility of the Company's Board of Trustees along with the Development Officer to ensure Funders regulations are met and adhered to. Objectives and activities TIDAL is established to promote urban and rural regeneration in the Toomebridge area and its environs. To relieve poverty in such ways as may be thought fit. To relieve unemployment and also assist in finding employment. The advancement of education and training, particularly among unemployed people and providing unemployed people with work experience. The creation of training and employment opportunities by the provision of workspace, buildings andlor land for use on favourable terms. To maintain. improve and provide public amenities. The provision of public health facilities. The protection and preservation of health. To provide recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement, F)ovety or social and economic circumstances have need for such facilities.
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 28 February 2025 Achievements and performance The year 2024-2025 proved exceptionally challenging from an economic perspective. Ongoing global uncertainty, rising inflation, and increasing operational costs placed considerable pressure on our community. Despite these difficulties, TIDAL continued to deliver vital services and supports which were more valued than ever by local residents. Community Support and Social Impact Our Weekly Seniors Meals initiative remained a lifeline for many older people in the community, offering both nutritional support and social connection during a time of heightened hardship. We also successfully secured funding to assist low-income families with their energy bills via Bryson Charitable Group, providing critical relief as househo5d costs continued to rise. The Pre-Loved School Uniform Scheme again demonstrated its importance within the community. Demand grew significantly, with families increasingly relying on the scheme to access affordable. good-quality uniforms while also reducing textile waste. We intend to expand this programme further in the coming year, broadening the number of schools included and extending its environmental and social benefits. Partnerships and Local Events Our partnership with Antrim and Newtownabbey Borough Council {ANBC) remained strong throughout the year. Their support with venue insurance and funding for our major annual events, the historic Toome Fair and the Christmas Event, has been instrumental to their continued success. Both events have grown in popularity, attracting increasing numbers of visitors and contribLtting positively to local tourism and business growth. Lock Keepers Cottage and Local Tourism The Lock Keepers Cottage continues to be a source of pride for TIDAL and the community. Footfall and turnover increased steadily throughout the year, reinforcing its role as a key visitor attraction. While the Canal Walk has been impacted by the presence of green algae, it still remains a valued asset for both tourists and local residents. Financial review Against the backdrop of limited resources and insecurities over funding, it has continued to be difFicult to plan or develop services. Nevertheless the charity, with the aid of sound financial management and the support of both its staff and volunteers were able to restrict the financial outcome for the period to a net decrease of £46,536 (2024= £16,714), leaving the total funds at £1,041,200 {2024.' £1,087,805} Its success in obtaining new funding for 2025126 from Antrim & Newtownabbey Borough Council will provide much needed additional resources. PRINCIPAL FUNDING SOURCES Aside from the income generated by the rental of business units and room hire, the principle funding sources for the Charity are currently by way of grants from Antrim & Newtownabbey Borough Council. As a result of increasing constraints on local authority expenditure. the charity has to seek funding from a much broader group of agencies. RESERVES There is a prudent amount retained in reserves each year.
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {¢ontinuedJ Year ended 28 February 2025 Plans for future periods Plans and Development for the Coming Year Looking ahead, TIDAL plans to further enhance its sustsinability and service offering through a planned kitchen extension. This expansion will enable us to broaden our menu, extend opening hours, including evenings, and ultimately create additional employment opportunities for the area. We are p5eased to report that a grant of £25,000 has been secured from ANBC, and we estimate that an additional £75,000 in match funding will be required to initiate the project. Health, Wellbeing and Community Safety The Pain Programme continued to grow in response to increased demand, supported by the Healthy Living Alliance and strengthened through the expansion of the local Doctor's Surgery. Local volunteers also remained active in maintaining the Speed Indicator Device {SIDI, with Tidal ensuring it was regularly charged and that relevant information was communicated to the PSNI. This initiative has contributed to ongoing improvements in road safety within the area. Environmental and Educational Engagement Our Community Garden continued to flourish, with increasing engagement from local businesses commissioning window boxes and landscaping services. Several local schools also visited the garden for sensory learning experiences and outdoor education. Community Wellbeing and Local Development Due to TIDAL'S continued presence and positive community programmes, anti-social behaviour in the area has remained at an all-time low. This has contributed to increased investment in local housing, with several new developments underway. However, this growth has begun to place pressure on local infrastructure, particularly sewage systems, highlighting the need for continued advocacy and community planning. Governance and Organisational Sustainability One of the key challenges identified for the coming year is succession planning and strengthening staff management structures. This will be essential to ensure the long-term sustainability of the organisation and to enable Tidal to continue at its full potential. The need for improved governance resilience was emphasised by the rent period of ill health experienced by the Company Secretary. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 25 February 2026 and signed on behalf of the board of trustees by= Mr Henry Marron {Treasurer) Trustee Mrs Una Johnston Charity Secretary
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Toomebridge Industrial Development Amenities and Leisure Limited Year ended 28 February 2025 I report to the trustees on my examination of the financial statements of Toomebridge Industrial Development Amenities and Leisure Limited ('the charity,) for the year ended 28 February 2025. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the '2008 Act,) and the Companies Act 2006 ('the 2006 Act'i. You are satisfied that the accounts of the company are not required by charity or Company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern IreSand under section 65{9)(b) of the 2008 Act. Independent examinerfs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 65 of the 2008 Act. I confirm that l am qualified to undertake the examination because l am a member of Chartered Accountants Ireland, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021.
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Independent Examinerfs Report to the Trustees of Toomebridge Industrial Development Amenities and Leisure Limited (continued) Year ended 28 February 2025 I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. S O'Neill & Company Independent Examiner 14 Main Street Toomebridge Co. Antrim Northern Ireland BT413TQ 25 February 2026
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 28 February 2025 2025 Restricted funds Total funds Total funds 2024 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Other income 2,625 142,599 73,151 38,752 41,377 142,599 73,151 71,131 115,295 75,657 Total income 218,375 38.752 257,127 262,083 Expenditure Expenditure on raising funds= Costs of other trading activities Expenditure on charitable activities Total expenditure 111,889 131,932 111,889 191,774 99,933 178,864 9.10 59,842 243,821 59,842 303,663 278,797 Net expenditure (25,446) (21,090) (46,536) (16,7141 Transfers between funds 4,830 (4,830) Other recognised gains and losses Gainsl{losses) from revaluation of fixed assets {69) (20,685) (69) (69) (16,783) Net movement in funds (25,9201 (46,605) Reconciliation of funds Total funds brought forward Total funds carried forward 645,956 441,849 415,929 1,087,805 1,041,200 1,104,588 625,271 1,087,805 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 pages 11 to 22 fomi part of these financial statements.
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Statement of Financial Position 28 February 2025 2025 2024 Note Fixed assets Tangible fixed assets Heritage assets 18 19 991,774 126,143 1,117,917 1,004,324 126,143 1,130,467 Current assets Debtors Cash at bank and in hand 20 47,619 7,783 21,953 42,264 64,217 55,402 Creditors: amounts falling due within one year Net current liabilities 21 69,023 106,879 13,621 1,104,298 42,662 Total assets less current liabilities Creditors: amounts falling due after more than One year 1,087,805 22 63,096 Net assets 1,041,200 1,087,805 Funds of the charity Restricted funds Unrestricted funds. Revaluation reserve Other unrestricted income funds 415,929 441,849 2,052 623,219 2,121 643,835 Total unrestricted funds 625,271 645,956 Total charity funds 1,041,200 1,087,805 For the year ending 28 February 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies. regime. The statement of financial position continues on the following page. The notes on pages 11 to 22 fomi part of these financial statements.
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Statsment of Financial Position (continued) 28 February 2025 These financial statements were approved by the board of trustees and authorised for issue on 25 February 2026, and are signed on behalf of the board by". Mr Henry Marron (Treasurer) Trustee The notes on pages 11 to 22 fom part of these financial ststements.
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee ststement of Cash Flows Year ended 28 February 2025 2025 2024 Cash flows from operating activities Net expenditure (46,536 (16,714} Adjustments for.. Depreciation of tangible fixed assets Government grant income Accrued expenses 16,723 (26,866) 4,186 27,687 (19,653) 1,934 Changes in.. Trade and other debtors Trade and other creditors (25,666) 22,852 10,394 (1 ,428) Cash generated from operations Net cash {used in}Ifrom operating activities (55,307) {55,3071 2,220 2,220 Cash flows from investing activities Purchase of tangible assets Net cash used in investing activities 14.241) (4,241) {74,980) (74,9801 Cash flows from financing activities Proceeds from borrowings Government grant income Net cash from financing activities (1,800) 26,866 76,388 19,653 25,066 96,041 Net (decrease}lincrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year {34,482) 42,265 7,783 23,281 18,984 42,265 The notes on page$ 11 to 22 fomi part of these financial statements. 10-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 28 February 2025 General inforniation The Charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Toome House, 55 Main Street, Toomebridge, Co Antrim, BT413TF. statement of complÉance 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 of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (Charities SORP {FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain tangible fixed assets and, where applicable, financial assets and liabilities measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material UnrtaIntieS about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of sub-classes.. restricted income funds or endowment funds. 11
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 28 February 2025 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the 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 specific policies are applied to partiCLblar categories of 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 entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, iri which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for 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 unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates= expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities. and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets All fixed assets are initially recorded at cost. Capitalisation of property extensions Only the Charity's direct expenditure is recognised as an addition to fixed assets. Contributions from tenants and third parties are not reflected in the Charity's asset value. Land and buildTngs Freehold land and buildings are subsequently stated at revalued amounts, being fair value at the date of revaluation less subsequent depreciation on buildings and impairment losses. 12-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 28 February 2025 Accounting policies (continued) RevalLrations are carried out by independent professionally qualified valuers at intervals when the Trustees consider that fair values have moved materially from carrying amounts. Revaluation surpluses are credited to a revaluation reserve within unrestricted funds, except to the extent that they reverse a revaluation deficit previously recognised in expenditure. Revaluation deficits that exceed any existing revaluation reserve in respect of the same asset are recognised as expenditure in the Statement of Financial Activities. Depreciation on buildings, including any element of revalued amount, is charged on a straight line basis over their estimated useful economic lives. Land is not depreciated Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows= Freehold buildings Fixtures and fittings Equipment Improvements to leasehold propety Straight line over 35 years less residual value 20 % straight Line 20 % Straight Line Straight line over 35 years less residual value Heritage assets The charity holds heritage assets, which are tangible fixed assets of historical, artistic or scientific importance that are held to advance preservation and conservation objectives of the charity. Newly purchased heritage assets are capitalised and included at cost including any incidental expenses of acquisition. Where heritage assets were acquired in past accounting periods and not capitali5ed, it can be difficult or costly to attribute a cost or value to them. In such cases, these assets are excluded from the balance sheet if reliable cost information is not available and conventional valuation approaches lack sufficient reliability or significant costs are involved in the reconstruction or analysis of past accounting records or in valuation. which are onerous compared with the additional ber)efit derived by users of the accounts in assessing the trustees, stewardship of the assets. The very long expected lives of heritage assets, due to their nature, value and need to be protected and preserved means that depreciation is not material and is, therefore, not provided. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. 13-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 28 February 2025 Limited by guarantee Toomebridge Industrial Development Amenities and Leisure Limited is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2025 Donations Donations 625 625 Grants Enkalon Housing Executive Saint Vincent De Paul Empower Pain Programme CDHN- Tiny Steps Social Prescribing Project Big Lottery Grants Government grant income 4,968 1,050 500 400 4,968 1,050 500 400 6,968 24,866 6,968 26,866 41,377 2,000 2,625 38,752 Unrestricted Funds Restricted Total Funds Funds 2024 Donations Donations Grants Enkalon Housing Executive Saint Vincent De Paul Empower Pain Programme CDHN - Tiny Steps Social Prescribing Project Big Lottery Grants Government grant income 2,000 2,000 6,600 12,000 9,974 20,904 16,950 6,600 12,000 9,974 20,904 19,653 2,703 2,703 68,428 71,131 14-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 28 February 2025 Charitable activities Unrestricted Totsl Funds Unrestricted Total Funds Funds 2025 Funds 2024 Lock Keepers Cottage Income Duneane Garden income Oil Club Membership Halloween Function Income Festival Income 121,916 18,376 740 1.042 525 121,916 18,376 740 1,042 525 102,762 12,528 102,762 12,528 142,599 142.599 115,295 115,295 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Rental income Room hire Toome Fair 68,537 3,264 1,350 68,537 3,264 1,350 71,803 2,187 1,667 71,803 2,187 1,667 73,151 73,151 75,657 75,657 Costs of other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Costs of other trading activities - Lock Keepers Cottage 111,889 111,889 99,933 99,933 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2025 Antrim & Newtownabbey Borough Council Projects NIHE - CFM Digi Drawing Course Big Lottery Empower grant Tiny Steps Duneane Allotment Garden Social Prescribing Project Pain Programme ARN - Community Foundation Saint Vincent De Paul Support costs 1,278 25,587 3,211 9,613 295 7,453 26,865 3,211 9,613 295 7,453 25,096 25,096 1,051 12,632 1,051 118,190 105,558 131,932 59,842 191,774 Unrestricted Funds Restricted Total Funds Funds 2024 Antrim & Newtownabbey Borough Council Projects NIHE - CFM Digi Drawing course Big Lottery 556 14,251 14,807 18,259 18,259 15-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 28 February 2025 Expenditure on charitable activities by fund type continued Empower grant Tiny Steps Duneane Allotment Garden Social Proscribing Project Pain Programme ARN - Community Foundation Saint Vincent De Paul Support costs 266 266 13,895 6,500 2,940 4,312 13,895 6,500 1,300 3,953 1,640 359 101,153 16,732 117,885 117,603 61,261 178,864 10. Expenditure on charitable activities by activity type Grant funding of activities Support costs Total funds 2025 Total fund 2024 Administration expenses Antrim & Newtownabbey Borough Council NIHE - CFM Digi Drawing Course Big Lottery Empower grant Tiny Steps Duneane Allotment Garden Social Prescribing Pain Programme ARN - Community Foundation Saint Vincent De Paul 118,190 118,190 117,885 26,866 3,211 9,613 295 7.453 25.096 26,866 3,211 9,613 295 7,453 25,096 14,805 18,259 266 13,895 6,500 2,940 4,314 1,050 1,050 73,584 118,190 191,774 178,864 11. Analysis of support Costs Total 2025 Total 2024 Staff costs Premises Communications and IT General office Finance costs Governance costs Depreciation Travel and entertainment Subscriptions Donations Bad debts wloff 62,223 10,317 4,888 1,263 4,803 15,172 16,721 2,118 585 100 51,963 12,438 4,867 2,622 60 12,288 27,689 4,099 1,080 779 118,190 117,885 16
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 28 February 2025 12. Analysis of grants 2025 2024 Grants Expenditure Grants expenditure Total grants 47,210 47,210 44,529 44,529 13. Net expenditure Net expenditure is stated after chargingllcrediting}: 2025 2024 Depreciation of tangible fixed assets Operating lease rentals 14. Independent examination fees 16,803 100 27,687 100 2025 2024 Fees payable to the independent examiner for-. Independent examination of the financial statements Other financial services 4,180 8,507 3,980 6,629 12,687 10,609 15. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows= 2025 2024 Wages and salaries Social security costs Office Casual wages 146,030 4,234 200 128,955 2,743 150,464 131,698 The average head count of employees during the year was 1212024.. 13). The average number of full-time equivalent employees during the year is analysed as follows.. 2025 2024 Office staff Cleaner Lock Keepers Cottage staff 12 13 No employee received employee benefits of more than £60,000 during the year (2024.. Nil). 16. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees 17-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 28 February 2025 17. Transfers between funds The following grants were received for restricted projects, and have been utilised against specific costs of the projects undertaken by the charity- However, there are a number of these grants that were to offset the running costs of the charity. As a result, these funds have been transferred from Restricted funds to Unrestricted funds to offset these project expenses, with the remainder to be utilised by the charity as they see fit. 2025 Antrim & Newtownabbey Borough Council ARN - Community Foundation CDHN - Tiny Steps NIHE- CFM Nl- Digi Drawing Course Total 185 45 4,100 500 4,830 18. Tangible fixed assets Improvement to Leasehold Propety Land and Fixtures and buildings fittings Equipment Total Cost At l March 2024 Additions 871,004 1,800 29,206 941 177,241 177,080 1,500 1,254,531 4,241 At 28 February 2025 Depreciation At 1 March 2024 Charge for the year Revaluations 872,804 30,147 177,241 178,580 1,258,772 31,920 25,618 1,237 149,390 8,636 43,279 6,850 250,207 16,723 68 68 At 28 February 2025 Carrying amount At 28 February 2025 At 29 February 2024 31,988 26.855 158,026 50,129 266,998 840,816 3,292 3,588 19,215 128,451 991,774 1,004,324 839.084 27,851 133,801 18-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 28 February 2025 18. Tangible fixed assets (continued) A charge on the buildings has been registered with Companies House on 15 March 2018. This relates to a buildings grant receivable from Department of Agriculture Environment and Rural Affairs for the Toome House extension. An extension to the surgery was constructed on this property. The total extension was funded by 13.28 % by the Charity and 87.72°/o by a grant secured independently by the tenant and paid directly to them. Only the charity's direct contribution of £1.800 12024.. £74,980) as at 28 February 2025 has been capitalised as an addition to tangible fixed assets. The extension forms part of the charity's property. and full legal ownership rests with the charity. The charity has no obligation in respect of the tenant's grant funding. and no asset or liability is recognised for the tenant-funded portion. Improvements to leasehold property relates to capital expenditure on the Lock Keepers Cottage and Duneane Garden Allotment. These properties are held under lease from Waterways Ireland and Down & Connor Diocese respectively. A lease payment of £100 per annum is paid to Waterways Ireland in respect of the Lock Keepers Cottage. Tangible fixed assets held at valuation The buildings at Toome House have been valued by Mr Richard Mcculloch, Mcculloch Estate Agents on 26 August 2020 at £630,000 with a residual value of £350,000. The historic cost of the building was £1.345,154. A further valuation of the buildings was obtained after the year end, details of which are given in Note 29 to the financial statements. 19. Heritage assets Heritage Assets included in the accounts relate to the Sculpture and the Community Garden (£64,160 & £61,983 respectively) Community Garden Sculpture Total Cost or valuation At 1 March 2024 and 28 February 2025 Accumulated depreciation At 1 March 2024 and 28 February 2025 Carrying amount At 28 February 2025 At 29 February 2024 64,160 61,983 126,143 64,160 61,983 126,143 64,160 61,983 126,143 All Heritage Assets at reported at cost. 19-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 28 February 2025 20. Debtors 2025 2024 Trade debtors Prepayments and accrued income Other debtors 8,159 3,441 36,019 5,380 3,520 13,053 47,619 21,953 21. Creditors: amounts falling due within one year 2025 2024 Bank loans and overdrafts Trade creditors Accruals and deferred income Social security and other taxes Other creditors 11,491 21,145 18,972 6,276 11,139 76,388 6,079 14,786 5,192 4,434 69,023 106,879 A bridging loan with Danske Bank Ltd for £78,250 had been agreed on 1 February 2023 and at 29 February 2024 £76,388 of this had been drawn down. This bridging loan was repaid on 18 June 2024 by way of a bank loan amounting to £77,658.57 leaving a balance of £74,587. 22. Creditors: amount falling due after more than one year 2025 2024 Bank loans and overdrafts 63,096 23. Government grants The amounts recognised in the financial statements for government grants are as follows.. 2025 2024 Recognised in income from donations and legacies: Government grants income 26,866 19,653 -20-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 28 February 2025 24. Analysis of charitable funds The revaluation reserve represents the unrealised surplus arising on the revaluation of the Toome House building in August 2020, net of amounts released to the Statement of Financial Activities through depreciation. Unrestricted funds At 1 Mar 2024 Gains and At losses 28 Feb 2025 Income Expenditure Transfers General funds Revaluation reserve 643,835 218,375 {243,821) 4,830 623,219 2,121 {69) {69) 2,052 645,956 218,375 {243,821) 4,830 625,271 At 1 Mar 2023 Gains and At losses 29 Feb 2024 Income Expenditure Transfers General funds Revaluation reserve 663,512 193,655 {217,536} 4,204 643,835 2,190 {69) 2,121 665,702 193,655 (217,536) 4,204 {69) 645,956 Restricted funds At 1 Mar 2024 Gains and At losses 28 Feb 2025 Income Expenditure Transfers Property 441,849 38,752 (59,842) {4,830} 415,929 At 1 Mar 2023 Gains and At losses 29 Feb 2024 Income Expenditure Transfers Property 438.886 68,428 (61,261) {4,2041 441,849 -21
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 28 February 2025 25. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2025 Tangible fixed assets Heritage assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 757,773 234,001 126,143 55,785 991,774 126,143 55,402 (69,0231 (63,0961 1,041,200 (383} (69,023) (63,096) 625,271 415,929 Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Heritage assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 757,691 246,633 126,143 69,073 1,004,324 126,143 64,217 (106,879} {4,856) {106,879} 645,956 441,849 1,087,805 26. Analysis of changes in net debt At At 1 Mar 2024 Cash flows 28 Feb 2025 Cash at bank and in hand Debt due within one year Debt due after one year 42,265 (76,388) (34,482) 7,783 64,897 (11,4911 (63,0961 (63,0961 (34,1231 {32,681) (66,8041 A bridging loan with Danske Bank Ltd for £78,250 had been agreed on 1 February 2023 and at 29 February 2024 £76,388 of this had been drawn down. This bridging loan was repaid on 18 June 2024 by way of a bank loan amounting to £77,658.57 leaving a balance of £74,587. This loan is covered by an existing 'AII Monies Charge, from Danske Bank, that was registered with Companies House on 7 March 2000. 27. Related parties None of the Trustees have been paid any remuneration or received any other benefits from an employment with the Charity or a related party during the year. No Trustee expenses have been incurred during the year. -22-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 28 February 2025 28. Off Balance Sheet arrangements An extension to the surgery was constructed on this propety. The total extension was funded by 13.28 /D by the Charity and 87.72°/o by a grant secured independently by the tenant and paid directly to them. Only the charity's direct contribution of £76.780 12024.. £74,980} has been capitalised as an addition to tangible fixed assets. The extension forms part of the charity's property, and full legal ownership rests with the charity. The charity has no obligation in respect of the tenant's grant funding, and no asset or liability is recognised for the tenant-funded portion A further valuation of the buildings was obtained after the year end, details of which are given in Note 29 to the financial statements. 29. Events after the reporting date Subsequent to the year end, on 30 November 2025, the Charity obtained an independent professional valuation of its freehold land and buildings at Toome House. The valuer assessed the fair value of the property at £928,360, based on rental agreements and market evidence as at 31 March 2025. The carrying amount of the Charity's freehold land and buildings at 28 February 2025 was £840,816. The valuers, assessment therefore indicates an increase in value of £87,544 compared with this carrying amount. As the valuation reflects rental and market conditions arising after the reporting date, it has been treated as a non-adjusting event under FRS 102 section 32 No adjustment has been made to the carrying amount of land and buildings in these financial statements. The Trustees will consider this valuation in determining the carrying value of land and buildings in the financial statements for the year ended 28 February 2026. -22-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Management Information Year ended 28 February 2025 The following pages do not forni part of the financial statements. -23-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 28 February 2025 2025 2024 Income and endowments Donations and legacies Donations Enkalon Housing Executive Saint Vincent De Paul Empower Pain Programme CDHN- Tiny Steps Social Prescribing Project Big Lottery Grants Antrim & Newtownabbey Borough Council 625 2,000 4,968 1,050 500 400 6,600 12,000 9,974 20,904 19,653 6,968 26,866 41,377 71,131 Charitable activities Lock Keepers Cottage Income Duneane Garden income Oil Club Membership Halloween Function Income Festival In¢ome 121,916 18,376 740 1,042 525 102,762 12,528 142,599 115,295 Other income Rental income Room hire Toome Fair 68,537 3,264 1,350 71,803 2,187 1,667 75,657 73,151 Total income 257,127 262,083 -24-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Detailed Statement of Financial Activities (continued) Year ended 28 February 2025 2025 2024 Expenditure Costs of Lock Keepers Cottage trading activities Purchases Wages and salaries Employer's NIC Operating leases Rates and water Light and heat Repairs and maintenance Motor vehicle expenses Other office costs Card machine service charge Advertising Volunteers Treat Casual Wages General expenses 34,948 61,634 1,459 100 91 2,903 3.902 102 28 897 105 29,944 56,744 909 100 87 3,214 1,888 90 19 2,363 223 94 4,059 199 4,830 890 111,889 99,933 Expenditure on charitable activities Duneane Garden Purchases Office Wages and salaries Duneane Garden wages and salaries Employer's NIC Casual wages Rates and water Light and heat Repairs and maintenance Insurance Duneane Garden light and heat Sundry expenses Legal and professional fees Bank charges Accountancy and book-keeping fees Telephone Other office costs Depreciation Release of Revaluation Reserve Charitable activity expenses Computer expenses Motor expenses, Travel and Entertainment PAYE Interest Subscriptions Bad debts written off Donations 9,547 60,009 12,823 2,775 200 1,265 5,434 4,535 598 (221) 755 189 513 12,687 3,885 254 16,790 (69) 48,488 1,453 2,118 16 585 10,329 50,270 18,259 1,834 582 4,521 2,752 6,356 800 1,902 969 10,609 3,308 294 27,756 1691 28,825 1,559 4,105 60 1,081 780 100 Carried forward 184,729 176,882 -25-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Detailed Ststement of Financial Activities (continue(Q Year ended 28 February 2025 2025 2024 Brought forward 184,729 176,882 Staff training costs Advertising Toome Fair expenses Artisan Market expenses Bank I nterest Loan interest paid Duneane Garden Volunteer Celebration 25 350 12 882 250 1,960 4,787 19 710 28 191,774 178,864 Total expenditure 303,663 278,797 Net expenditure {46,536> {16,714) -26-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Detailed Ststement of Financial Activities Year ended 28 February 2025 2025 2024 Costs of other trading activities Costs of other trading activities - Lock Keepers Cottage Lock Keepers Cottage purchases Lock Keepers Cottage wages and salaries Lock Keepers cottage employerfs NIC Lock Keepers Cottage premises lease Lock Keepers Cottage rates & water Lock Keepers Cottage light & heat Lock Keepers Cottage repairs & maintenance Lock Keepers Cottage motor vehicle expenses Lock Keepers Cottage office costs Lock Keepers Cottage card machine service charge Lock Keepers Cottage advertising Lock keepers Cottage subscriptions Lock Keepers Cottage casual wages Lock Keepers Cottage general expenses 34,948 61,634 1,459 100 91 2,903 3,902 102 28 897 105 29,944 56,744 909 100 87 3,214 1,888 90 19 2,363 223 94 4,059 199 4,830 890 111,889 99,933 Costs of other trading activities 111,889 99,933 -27-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Detsiled Ststement of Financial Activities (continued) Year ended 28 February 2025 2025 2024 Expenditure on charitsble activities Support costs Wages and salaries Employer's NIC Casual wages Staff training Rates and water rates Light and heat Repairs and maintenance Insurance Sundry expenses Legal and professional fees Bank charges Accountancy fees Telephone Printing, postage and stationery Depreciation Advertising Computer expenses Toome fair expenses PAYE Interest Motor expenses Subscriptions Travelling Artisan Market expenses Donations Bad debt write offs Bank interest Loan interest paid 60,009 1,990 200 24 187 5,434 4,099 598 755 11 513 12,687 3,435 254 16,721 50,270 1,343 350 88 4,521 1,473 6,356 1,434 969 10,609 3,308 294 27,687 12 1,559 882 60 3,656 1,081 443 1,453 16 2,118 585 250 100 780 710 1,960 4,787 118,190 117,885 AntrTm & Newtownabbey Borough Council Grant funding activities ANBC - Seniors Christmas Dinner Event & Christmas Lights ANBC - Community festival expenses ANBC - Speed Indicator Device expenses ANBC - Toome Premises and Programmes grant expenditure ANBC - Warm Wishes Winter Feast expenses ANBC - Warm, Well & Connected ANBC - School Uniforms ANBC - FestivallFunday expense ANBC - Halloween expenses ANBC - Northern Healthy Lifestyles expenses 1,561 10,377 354 12,837 500 902 201 80 54 2,321 1,055 116 198 8,634 2,381 300 Carried forward 26,866 14,805 28-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities (continued) Year ended 28 February 2025 2025 2024 Brought fOard 26,866 14,805 26,866 14,805 CFM grant Grant funding activities CFM Grant expenditure 3,211 Big Lottery grant Grant funding activities Big Lottery grant expenditure Empower grant Grant funding activities Empower grant expenditure Tiny Steps Grant funding activities Tiny Steps expenses Duneane Allotment Garden Grant funding activities Duneane Garden purchases Duneane Garden wageslsalaries Duneane Garden employer's NIC Duneane Garden rates and water rates Duneane Garden repairs & maintenance Duneane Garden light and heat Duneane Garden motor vehicle expenses Duneane Garden legal and professional fees Duneane Garden telephone Duneane Allotment Garden expenses Duneane Garden volunteer celebration 9,613 18,259 295 7,453 266 9,547 12,823 785 1.078 437 (221) 10,329 {11 491 494 1,279 800 178 450 468 29 19 25,096 13,895 Saint Vincent De Paul Grant funding activities Saint Vincent De Paul expenses 1,050 other Grant funding activities Social Prescribing project expenses Pain Program expenses ARN - Community Foundation expenses 6,500 2,940 4,314 13,754 -29-
Toomebridge Industrial Development Amenities and Leisure Limited Company Limited by Guarantee Notes to the Detailed Ststement of Financial Activities (eondnued) Year ended 28 February 2025 2025 2024 Expenditure on charitable activities 191,774 178,864 -30-