BANBRIDGE DISTRICT ENTEIIPRISES LIMITED
TRUSTEES, ANNUAL REPORT
INCORPORATING THE DIRECTORS, REPORT
Jones Peters
FOR THE YEAR ENDED 31 MARCH 2023
Report of the trustees for the year ending 31 March 2023
The trustees, who are also directors for the purposes of company law, present their report and the financial
statements of the charity for the year ending 31 March 2023.
Chair's report
I am delighted to present our trustees report for Banbridge District Entery)rises Limited. Once again, it is
evident, from the report, that the organisation has developed and met all of its objectives for the year and
continued to achieve such high standards.
The board itself has continued to provide strategic leadership to the organisation and has shown great
commitment and dedication throughout the year.
Principal activity
Banbridge District Enterprises Limited is an organisation founded to relieve povety, unemployment and
financial hardship and pi'omote urban and rural regeneration in areas of social and economic deprivation in
particular within the environs of the former Banbridge District Council Area. We aim to achieve this via
promoting the growth and development of small businesses through the provision of starter work units
supported by business management advice, common services and business skills training.
Through our programmes, our ethos, core principles and values, we strive to provide benefit to the
participants without distinction of age, gender, sexual orientation, ability, race, ethnic origin, political,
religious or other opinion, by associating the statutory and local authorities, voluntary organisations and the
participants in a common effort to promote urban regeneration and relieve unemployment with the objective
of improving the conditions of life for the said participants.
Statement of public benefit
The beneficiaries of our work are primarily individuals who are considering self-employment or those who
wish to add to their employability. Our pulpose benefits these individuals by:
providing high quality, affordable and accessible incubation units, workspace, buildings and/or land for
new and existing businesses in the forn]er Banbridge District Council area through the Banbridge and
Rathfriland Enterprise centres and where possible, including terms appropriate to their means.
conception, delivery and funding of targeted training programmes and support for entrepreneurs.
promoting, facilitating and organising adequate, accessible and quality programmes of vocational
training or re-training, infonnation and support in an effort to acquire skills to assist them in obtaining
employment or establishing themselves in business.
providing financial and technical assistance. training and employment opportunities to enable them to
set up their own business.
advancing any other exclusively charitable purpose as the directors may from time to time decide, in
accordance with the law of charity.
These benefits are evidenced through the yearly increase in new businesses startÉng through Banbridge
District Enterprises Limited. The fact that Rathfriland Enterprise Centre is 900/0 occupied and Banbridge
Enterprise Centre is l 00 % occupied demonstrates the positive demand for our services. Enrolment records
and feedback sheets from participants having completed training programmes demonstrates the positive
contribution that the training makes to the development of the individual.

Jones Peters
BANBRIDGE DISTRICT ENTERPIUSES LIMITED
TRUSTEES, ANNUAL REPORT
INCORPORATING THE DtRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Business Purpose
Banbridge District Enterprises Limited seeks to support enterprise and advance locaI economic
development in partnership with other key stakeholders. Our Board of Directorsrrrustees provides the
strategic direction to the Partnership's regeneration activities.
Vision
The Banbridge area will be recognised for its entrepreneuriat culture and as an ideal location to
set up or expand a business.
Mission
We will invest in developing innovative initiatives. providing facilities and services in
supporting enterprise to improve the local economy. This will be achieved by contributing to
an entrepreneurial. ambitious, and inclusive business comrnunity.
Values
We will always act with integrity.
We will bring innovation and creativity to all aspects of our work.
We will ensure that equality and inclusiveness is embedded in our approach.
We will proactively engage with our clients, staff, and other stakeholders.
We will foster an enterprising culture within BDE Ltd.
Banbridge District Enterprises LimÉted has developed its strategy based around the following four themes:
Financial Sustainability and Independence: As a company we will strive to achieve
sustainability through increasing earned revenue, managing our cost base and reducing our
reliance on grant aid.
Facilities and Business Support Activlties: Developing relevant and innovative business
support activities as well as reviewing the property portfolios income generating capacity.
Leadership and Advocacy: Taking a leading role in supporting research, developing, and
delivering inrLovative initiativ¢s and advocating for the SME sector locally and at a national
level.
Excellence: Continuous improvement of our services and facilities and the way that we
manage the business. We will seek to establish challenging benchmarks against which we will
compare our perforn]ance.
Equality, Diversity, 2nd Inclusion: We will establish targets and processes which will ensure
that we are an inclusive and diverse organisation in how we manage and do business.
Banbridge District Enterprises Limited staff comprises: Chief Executive, Business Development Officer,
Administration Officer and ReceptionistlAdministrator.
The Board of Directors/Trustees is comprised of representatives from the voluntary sector, local business
representation and representation from the Banbridge area community.

Jones Peters
BA_NB_RTDfF. DTSTRTCT ENTERPRISES LIMITED
TRUSTEES, ANNUAL REPORT
INCORPORATING THE DIRECTORS, REPORT
FO_R. THF. YF.AR F.NDED 31 MARCH 2023
Governing Document
Banbridge District Enterpriscs Limited is a company limitcd by guarantee governed by its Mcmorandum
th
and Articles of Association which was amended by Special Resolution on December 4 2012. Banbridge
District Enterprises Limited is also a charity registered with the Charity Commission for Northern Ireland.
Appointment of trustees
The chaiiinan and the trustees recruit and select new trustees as set out in the charity's governing document.
New Érustees are recruited on the relevance of their professional skills, and their potential to be able to make
a helpfijl contribution to the governance of the charity. The recruÉtment of board members is built around
openness, transparency and democracy thus, ensuring our Board is representative of the Banbridge District.
As part of the recruitment process trustees are made aware of their legal obligations and good practices
under charity and comparAy law, the content of the Memorandum and Articles of Association, the committee
and decision-making processes, the business plans and recent financial perfornlance of the charity.
Trustee induction and training
All new board members serving as Directors/Trustees rec¢iv¢ guidance from the charity manager and
receive an induction pack including guidance on good practice in charity govemance, governing document
and .8ubcommittee tenns of referenc¢, minutes of meetings, accounts and other documents to provide the
necessary inforn]ation for board members in carrying out their duties in accordance with law and good
practice. All directors are encouraged to undergo further training and review opportunities for further
development every year.
Arrangements for setting pay and remuneration of key management personnel
The directors consider the board of directors, who are the charity's trustees, and the senior management
team comprising the key management personnel of the charity to be in charge of directing and conirolling,
running and operating the charity on a day to day basis.
All directorsltrustees give of their time freely and no trustee received remuneration in the year.
NJC Salary Scales are used as a guide to detennine staff pay.
Organisation structure and how charity makes decisions
The board of trustee5, which can have up to 18 members, administers the charity. The board nonnally meets
at least 6 times per year with an executive committee comprising the manager and office bearers, also
meeting at least 6 times per year. As part of its structure, the charity operates additional thematic committees
that report and make recommendations to the Board including:
Audit, Risk & Governance
Finance, Property and Business Development.
Executive
Relationships Trvith related parties
None of our ts'ustees receive remuneration or oth¢r benefit from their work with the charity.

Jones Peters
BANBRIDGE DISTRICT ENTERPRISES LIMITED
TRUSTFV.8' _A_NNTJAL REPORT (INCORPnR_ATING THF, DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Risk management
The trustees have an Audit and Risk committee and as part of that committee they have an additional
member who is not a director and who advises as an independent member. The cornmittcc review thc
company risk register on an ongoing basis and make recommendations to the board. The risk register is
updated on an ongoing basis.
Reputational Risks: The Trustees are conscious of the importance of its reputation as a well-run
organisation delivering public benefit and have undertaken steps to ensure Banbridge District Enterprises
Limited's governance and management structures are robust and give confidence to all stakeholders and
operate in line with our values.
Covid-19: The impact of Covid-19 commenced from early in 2020 and has continued into 2023. While the
response from statutory funders and public donors, together with the flexibility shown by our employees,
has allowed Banbridge District Enterprises Limited to mitigate the risks to a significant degree, the Trustees
coiitinue to monitor developments carefully. The main ongoing impact stems from a ¢ontinued reduction
in facility hire bookings.
Finaneial Risks: The organisation exposes itself to a variety of financial risks. Measures to mitigate
these risks include strong budgetary management and cost control and proactive negotiations with tenants
and key stakeholders.
Health and Safety Risks: The Trustees recognise the importance of safety in all of our services. Banbridge
District Enterprises Limited implements robust systems and structures to ensure all health and safety
regulations are complied with.
Legal and Regulatory Risks: The company is required to comply with a wider range of legal and
regulatory obligations. Policies and procedures are in place to ensure compliance with these obligations.
However, there inevitably remains a residual risk of an operational failure resulting in a breach of these
obligations.
Insurable Risks: The organisation incurs exposure to employer, public and property damage liability by
virtu¢ of the nature of its operations. While a strong emphasis is placed on health and safety and risk
management practices to avoid liability arising, insurance cover is maintained to mitigate the financial
impact from such events.
Achievements and performance
In the year covered by this report, Banbridge District Enterprises Limited has had a positive impact in a
wide range of areas:
Banbrid e Ente
i'ise Centre Banbrid e Business Centre and Rathfriland Ente
rise Centre
We offer high quality affordable workspace accommodation for new and existing businesses in Banbridge
and Rathfriland. We have maintained a high level of occupancy during the financial year and continue to
offer value for money to our tenant businesses. At the year-end we had 55 tenant businesses on site in
Banbridge and Rathfriland occupying 52.500 sq. ft.
Banbridge Enterprise Centre offers 34,027 sq. ft. of lettable workspace and is home to 32 businesses
who collectively employ 89 people.
Banbridge Business Ccntre offers l 0,890 sq. ft. of lettable workspace and is home to 15 businesses
who collectively employ 16 people.
Rathfriland Enterprise Centre offers 7,256 sq. ft. of lettable workspace and is home to 8 businesses
who collectively employ I I people.

Jones Peters
BA_NBRIDCF, DIST_RTC.T ENTERPRISES LIMITED
TRUSTEES, ANNUAL REPORT
NCORPORATIIYG THE DIRECTORS, REPORT
FOR THF YF._A_R_ ENDED 31 MARCH 2023
Conference Room Hire
Banbridge District EnteTprises has excellent facilities that are leased out daily to other businesses and
training organisations including:
Conference Room
Training Room
IT Suite
Board Room I Interview Room
These rooms range in size and can be leased on an hourly or daily basis. The business generated from our
facilities also contributes to the use of additional services onsite for our tenant businesses including Top
Notch Catering.
Zenco
During 2022, we developed a new co-working space at Banbridge Enterprise Centre called ZENCO. Our
co-working space is the perfect place for individuals to make the transition from the coffe¢ shop/ stay at
home workers or for large teams that are ready to leave the cory)orate office space behind.
Zenco can be leased on an hourly, daily, weekly, or monthly basis.
lorin
Enter
rise Pro
ramme
This progi'amme is aimed at those who have been unemployed long tem) and are considering self-
eEnployment and is funded by the Department of the Economy, Banbridge District Ente￿riseS Ltd and
Arniagh City, Banbridge and Craigavon Borough Council. It is a free programme which aims to help the
participants into long tern] employment or self-employment by offering mentoring and training specifically
tailored to the individual.
During the year ended March 2023, this programme was delivered twice at BDEL in October 2022 and
February 2023. In total there were a total of18 participants with I I success￿11Y completing and achieving
the OCN qualification in Understanding Business Ente￿riSe. Outcomes have been very positive with
50 % going on to start their own business and others re-entering the labour market or going on to further
training. This was an increase on participants from the previous year.Thethnding for
the programme finished in March 2023, with a replacement programme securing ￿ndIng from the UK
government. The NI Explore Enterprise Service will launch in June 2023 aimed at the economically
inactive and offering mentoring and training.
Go For It Pro
ramme
Over the past year Banbridge District Enterprises Ltd has delivered Annagh City, Banbridge and Craigavon
Borough Council's Go for It Programme. This entails assisting early-stage business starts with the
development of a detailed business plan that allows them to map their way to starting a business.
We have delivered an average of 9 business plans per month during the year. On average these 9 businesses
will create more than I l jobs. This is similar to th¢ previous year. In addition to delivery of plans wc also
deliver workshops aimed at enhancing marketing and financial planning skills of individuals before they
commence trading.
Start U Loan Com
an
We continue to delivcr Enterprise NI start up loans and provide ongoing after care mentoring support to
clients who have been successfiil in obtaining a loan. Applicants who have progressed through the Go For
It Programme are eligible to apply for a loan. Those who apply to the Start Up Loan Company will have
been refused loan finance by the mainstream lenders. During this financial year businesses have accessed
small loans totalling more than £ l 0,000.

Jones Peters
BANBRIDGE DISTRICT ENTERPRISES LIMITED
TRUSTEES, ANNUAL REPORT
INCORPORATING THE DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Ente
rise Pathwa
Labour Market Partnershi
The pathways programme is a grant fund for eligible clients who have completed the Go for It Programme
and was ￿nded through Labour Market Partnership. The programme was updated from the previous year
to target under 30-year-olds who were unemployed or at risk of redundancy. Enteryrise Pathways was
administered in the ABC council area up until March 2023 with the three local ente￿rISe agencies working
together to deliver the programme. There were 14 clients in total from BDEL who received support with
grants up to £1,500 each and one-day's mentoring.
Insites - Di
ital Cultural Heiita
e Custodians
Cultural heritage tourism is a vital part of Europe's economy with 8.4 million people employed in this sector
and 4 out of l O tourists choosing their destination b&sed on its cultural and heritage offering. However,
Europe's cultural heritage is under threat. The decay and abandonment of some European cultural heritage
gems and the over/insensitive tourism of others are two very pressing areas for concern.
Banbridge District Enterprises Ltd (BDEL) is the lead partner in this programme and administrators of ihe
programme. The Project brings together Partners and experts from:
CEEI BURGOS, Spain
ARCTUR, Slovenia
AKMH, Greece
Momentum, Ireland
European E - Learning Institute Denmark
Trabzon Local Authority - Turkey
Destination Makers - Italy
The Programme ran from January 2020 until December 2022.
Learnin
Circle
The Learning Circle project aims to support the emergence of innovative circular economy entrepreneurs.
Even though innovative entrepreneurs come from varied backgrounds, they share common traits, motives,
and competences. They also play an important role in boosting economies around the world and their
importance cannot be overstated. True entrepreneurs are serial innovators who leave a portfolio of
successful and not-so-successful ventures behind them at the end of their career. Supporting the growth of
innovative circular economy entrepreneurs through vocational education can therefore achieve a positive
and lasting impact.
Banbridge District Enterprises Ltd is the lead partner and administrators of th¢ programme. The Project
brings together Partners and experts from:
INNOVADE- Cyprus
PERMACULTURA- Spain
Right Challenge - Portugal
SPECTRUM - Ireland
SPEKTRUM - Romania
University of Latvia- Latvia
Skills Elevation FHB - Gern]any
This programme ran from May 2021 to May 2023.

Jones Peters
BANBRIDGE DI:STR_ICT ENTERPRISES LIMITED
TRUSTEES, ANNUAL REPORT
NCORPORATING THE DIRECTORS? REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Financial review
The company's income for the year was £648.01 O and total expenditure was £602,269, leaving an overall
Surplus of £45,741. The surplus of unrestricted funds was £77,416 (2022: £27,794). The deficit on
restricted funds was £31,675 (2022 deficit: £64,928) and represents timing differences between restricted
funds received and paid out in the year.
The company had net assets of £1,669,684 at 31 March 2023 (2022: £1,623.943).
Reserves policy and going concern
The Trustees have adopted a reserves policy which they continue to consider appropriate to ensure the
continued ability ol the charity to meet is objectives. Consideration is given to assessing the risk, probability
and likely impact on our ability to meet our financial obligations or reduce expenditure in the short tern]
due to a decline in income.
Banbridge District Enterprises Limited aims to maintain free reserves at a level of between 25 /0 to 50 % on
ongoing annual staff and overhead costs. At 31 March 2023 free reserves amounted to £146,875 which
amounts to a ratio of 49 %. The trustees consider that there are sufficient reserves at year end to avoid an
unacceptable level of disruption to the organisation in the event of a downturn in ￿tUre income. The
Trustees will continue to adopt an approach that will build and maintain reserv¢s at appropriate levels.
After making appropriate enquiries th¢ Trustees have a reasonable expectation that the charity has adequate
resources to continue in operational existence for the foreseeable ￿tUre and for this reason, they continue
to adopt the going concern basis in preparing the financial statements. Further details in relation to the
adoption of the going concern basis can be found in the accounting policies.
Events after the Balance Sheet Date
There were no significant events affecting the company after the end of the year.
Development of Programmes
We continuously work with our enterprise partners across the borough, Armagh Business Centre, Craigavon
Industrial Development Organisation, Mayfair Business Centre and Brownlow Ltd to develop programmes
and respond to tenders which would impact upon the small business base within our area. We collectively
complement the efforts of the council to develop the econotnic base with our council area.
We have organised a very successful virtual Enterprise Week 2022 and delivered this on behalf of Armagh
City, Banbridge & Craigavon Borough Council.
Trustees, responsibilities staternent
The trustees, who are also directors for the purposes of company law, are responsible for preparing the
trustees, report and the financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true
and fair view of the state of affairs of the charitable company and the incoming resources and application
of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
s¢lect suitable accounting policies and then apply them consistently
observe the methods and principles in the applicable Charities SORP
make judgements and accounting estimates that are reasonable and prudent
prepare the fmancial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in business.
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Jones Peters
BANBRIDGE DISTRICT ENTERPRISES LIMITED
TRUSTEES, ANNUAL REPORT
CORPOIL4TING THE DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The trustees are responsible for keeping adequate accounting records that are suificient to show and explain
the charity's transactions and disclose with reasonable accuracy at any time the financial position of the
charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms that;
so far as they are aware, there is no relevant audit infonnation of which the charity, s auditor is unaware.
and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of any
relevant audit infonnation and to establish that the charity's auditor is aware of that infonnation.
The auditor is deemed to have been reappointed in accordance with Section 487 of the Companies Act 2006.
Small company provision
This report has been prepared in accordance with the provisions applicable to companies entitled to the
smalI companies, exemption.
This report was approved by the board on 14 November 2023 and signed on its behalf by..
Patrick Grimes
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