R_A_NRRJDGE DISTRICT WI￿F.RPRTSEs LIMITED
TRUSTEES, ANNUAL REPORT
ones Peters
INCORPORATING THE DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Report of the trustees for the year ending 31 March 2024
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 2024.
Chair's report
I am delighted to present our trustees report for Banbridge District Enteryrises 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 promote urban and rural regeneration in areas of social and economic deprivation
in particular within the environs of the fornier 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 prograrnmes, 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 purpose 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 ternis 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, inforniation 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 opporthities 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 starting through Banbridge
District Enterprises Limited. The fact that our prop¢rties Rathfriland Enterprise Centre are 93 % occupied
and Banbridgc Enterprise Centre are l 00 /0 occupied demonstrates the positive detnand for our scrvices.
Enrolment records and feedback sheets from participants having completed training programmcs
demonstrates the positive contribution that the training makes to the development of the individual.

BANBRIDGE DISTRICT ENTERPRISES LIMrrED
Jones Peters
TRUSTEES, ANNUAL REPORT
NCORPORATING THE DIRECTORS, REPOR
FOR THE YEAR ENDED 31 IWIARCH 2024
Business Puryose
Banbridge District Enterprises Limited seeks to support enterprise and advance local economic
development in partnership with other key stakeholders. Our Board of Directors provides the Strategic
direction to the Partnership's regeneration activities.
Vision
The Banbridge area will be recognised for its entrepreneurial 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 achi¢ved by contributing to
an entrepreneurial, ambitious, and inclusive business community.
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 Limited 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 Activities: Developingi 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 innovative initiatives and advocating for the SME sector locally and at a national
level.
Exeellence: 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 performance.
Equality, Diversity, and 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 stsff comprises: Chief Executive, Business Development Officer,
Administration officer and Receptionist/Administrator.
The Board of Directors is comprised of representatives from the voluntary sector, local business
representation and representation from the Banbridge area community.

BANBRIDGE DISTRICT ENTERPRISES LIMITED
Jones Peters
TRUSTEES, ANNUAL REPORT
NCORPORATING THE DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
GoverniDg Document
Banbridge District Enterprises Limited is a company limited by guarantee governed by its Memorandum
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 chairman and the trustees recruit and select new trustees &s set out in the Ch￿Ity'S governing
document. New tnjstees are recruited on the relevance of their professional skills, and their potential to be
able to make a help￿1 contribution to the governance of the charity. The recruitment 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 company law, the content of the Memorandum and Articles of
Association, the committee and decision-making processes, the business plans and recent financial
perfonnance of the charity.
Trustee induction and training
All new board members serving as Directors receive guidance from the Chief Executive Officer and
receive an induction pack including guidance on good practice in charity governance, governing document
and subcommittee ternis of reference, minutes of Meetings, accounts and other documents to provide the
necessary inforniation 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 controlling,
running and operating the charity on a day to day basis.
All directors give of their time freely and no director received remuneration in the year.
NJC Salary Scales are used as a guide to detemiine staff pay.
Organisation structure and how charity makes decisions
The board of trustees, 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 Chief Executive Officer and
office bearers, also meeting at least 6 times per year. As part of its structure, the charity operates additional
thematÈc committees that report and make recommendations to the Board including:
Audit, Risk & Governance
Finance, Property and Business Development.
Executive
Relationships wlth related parties
None of our trustees receive remuneration or other benefit from their work with the charity.
Risk management
The trustees have an Audit and Risk committee and as part of that conunittee they have an additional
member who is not a director and who advises as an independent member. The committee review the
company risk register on an ongoing basis and make reconunendations to the board. The risk register is
updated on an ongoing basis.

BANBRIDGE DISTRICT ENTERPRISES LIIWIITED
TRUSTEES, IINNUAL REPORT
NCORPOII4TING THE DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MikRCH 2024
Jones Peters
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 govemance and management structures are robust and give confidence to all stakeholders and
operate in line with our values.
Financial 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.
How¢ver, 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 propety damage liability by
virtue of the nature of its operations. Ivhile 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 Enteryrises Limited has had a positive impact in a
wide range of areas:
Banbrid e Ente
rise 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 52 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 Centre offers l 0,890 sq. ft. of lettable workspace and is home to 16 businesses
who collectively employ 20 people.
Rathfriland Enteryrise Centre offers 7,256 sq. ft. of lettable workspace and is home to 6 businesses
who collectively employ 20 people.
Conference Room Hire
Banbridge District Enterprises has excellent facilities that are leased out daily to other businesses and
training organisations including..
Conference Room
Training Room
IT Suite
Board Room / Interview Room

BANBRIDGE DISTRtCT ENTERPRISES LIMITED
Jones Peters
TRUSTKES, ANNUAL REPORT
NCORPORATING THE DIRECTORS, RKPORT
FOR THE YEAR ENDED 31 MARCH 2024
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
coworking space is the perfect place for individuals to make the transition from the coffee shop/ stay at
home workers or for large teams that are ready to leave the corporate office space.
Zenco can be leased on an hourly, daily. weekly, or monthly basis.
NIEX
lore Enter
rise Su
ort Service
The Northern Ireland (Nl) Explore Enterprise Support Service was launched in June 2023 and is the
replacement for the Explore Enterprise Programme which ended in March 2023. This service provides
self-employment or employment support to economically inactive individuals across Northern Ireland.
This is a free service that provides an insight into starting a business or allows you to take the first steps
to gaining employment. This service is ￿nded until March 2025 and is run throughout the year, with
mentoring and online training offered to clients.
During the year ended March 2024, there were a total of 25 participants on the service receiving mentoring
support. Outcomes have been very positive with 50 % going on to start their own business and others re-
entering the labour market OT going on to further training. This was an increase on participants from the
previous year. The progranune contract is held by Enteryrise Nl of which Banbridge District Entelyrises
Ltd is a member. Banbridge District Enterprises Ltd are contracted by Ente￿rISe Nl to deliver the
programme within the Banbridge area. This project is funded by the UK Government throu&ih the UK
Shared Prosperity Fund.
Go Succeed
Over the past year Banbridge District Enterprises Ltd delivered the Go For IT programme up until the end
of September 2023 when the programme ended. This programme was replaced with the Go Succeed
Service which is an NI wide business programme for new and existing businesses which launched in
November 2023 and BDEL has been delivering mentoring and workshops during this period. Go Succeed
is the new go-to source for expert business advice led by Northern Ireland's eleven local councils. The
service is funded by the UK government and fvnding is secured until March 2025. The service provides
mentoring, workshops, business and actions plans, peer to peer support networks and the opportunity to
apply for a £4,000 grant.
The programjne contract is also held by Enterprise NI of which Banbridge District Enterprises Ltd is a
member. Banbridge District Enterprises Ltd are contracted by Enteryrise NI to deliver the Go Succeed
Engage and Foundation element of the progranune within the Banbridge area.
Through the Go For It programme we averaged 8 business plans per month in the first half of the year.
In creating 8 business plans a month, we averaged the creation of 10 jobs per month through this
initiative. There was a gap over three months of delivering this programme as the new service of the Go
Succeed programme was being launched. The Go Succeed programme was launched from November
2023 onwards but had a different objective to the Go For It programme focusing more on peer to per
support and mentoring and business workshops.

BANBIUDGE DISTRICT ENTERPRJSES LIMITED
TRUSTEES, ANNUAL REPORT
INCORPORATING THE DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Jones Peters
Start U Loan Com
We continue to support clients who apply to Enteryrise NI start up loans. Those who apply to the Start
Up Loan Company will have been re￿Sed loan finance by the mainstream lenders. During this fmancial
year businesses have accessed small loans totalling more than £10,000.
Insites - Di
ital Cultural Herita
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 10 tourists choosing their destination based on its cultural and heritsge offering.
However. Europe's cultural heritage is under tI￿eat. 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
the 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. Final reporting for this programme has been
included within these accounts.
Leamin
Circle
The Learning Circle proj ect aims to support the emergence of innovative circular economy entrepreneurs.
Even though innovative entrepreneurs com¢ from varied backgrounds, they share cornmon 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 the progranune. are project
leaders on this project. 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 - Gerniany
This programme ran from May 2021 to May 2023 and is now complete. Final reporting for this programme
has been included within these accounts.

BANBRIDGE DISTRICT ENTERPIUSES LIMITED
TRUSTEF.S' ANNUAL REPORT
Jones Peters
INCORPORATING THE DIRECTORS, REPORT
FOR THF. YF._AR_ ENDED 31 MARCH 2024
Financial review
The company's income for the year was £387,553 and total expenditure was £406,503, leaving an overall
deficit of £18.950. The surplus on unrestricted funds was £21,553 (2023: £77,416). The deficit on
restricted funds was £40,503 (2023 deficit: £31,675) and represents timing differences between restricted
funds received and paid out in the year.
The company had net assets of £1,650,734 at 31 March 2024 (2023: £1,669,684).
Reserves policy and going concern
The Trustees have adopted a reserves policy which they continue to consider appropriate to ensure the
continued ability of 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.
Banbridg¢ District Enterprises Limited aims to maintain free reserves at a level of between 25 % to 50 %
of ongoing annual staff and overhead costs. At 31 March 2024 free reserves amounted to £159,200 which
amounts to a ratio of 51 0/0. 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 future income. The
Trustees will continue to adopt an approach that will build and maintain reserves at appropriate levels.
After making appropriate enquiries the Trustees have a reasonable expectation that the charity has
adequate resources to continue in operational existence for the foreseeable future 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 enteryrise partners across the borough, Arn]agh 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 economic base with our council area.
Trustees, responsibilities statement
The trustees, who are also directors for the pury)oses 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:
select suitable accounting policies and then apply thcrn consistently
observe the methods and principles in the applicable Charities SORP
n￿ke judgements and accounting estimates that are reasonable and prudent
prepare the financial statements on the going concem basis unless it is inappropriate to presume that
the charity will continue in business.
-10-

BANBRIDGE DISTRICT ENTERPIUSES LIMITED
TRUSTEES, ANNUAL REPORT
Jones Peters
INCORPORATING THE DIRECTORS, REPOR
FOR THE YEAR ENDED 31 IVIARCH 2024
The trustees are responsible for keeping adequate accounting records that are sufficient 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 &8sets of the charity and hence for taking reasonable
steps for the prevention and detection of fraud and other l￿egUlarlties.
Auditor
Each of the persons who is a trustee at the date of approval of this report confirnis that:
so far as they are aware, there is no relevant audit infom]ation 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 infomation 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
small companies, exemption.
This report was approved by the board on 12 November 2024 and signed on its behalf by:
eGivern