Company registration number: Nt026172
Charity registration number: 101211
Antrim Enterprise Agency Limited
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2023
DT Carson & Co.
51- 53 Thomas Street
Ballymena
Co. Antrim
BT43 6AZ

Antrim Enterprise Agency Limited
Statement of Financial Activities for the Year Ended 31 March 2023
(Including Income and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Unrestricted
funds
Restricted
funds
Total
2023
Note
Income and Endowments from:
Donations and lega¢i¢s
Charitable activities
Other trading activities
Investment income
Other income
67
223,371
10,571
3,905
1,848
67
248,587
10,571
3,905
1.848
25,216
Total income
239,762
25,216
264,978
Expenditure on:
Raisillg fimds
Charitable activities
(10,364)
223,549
(10,364)
(235.094)
(11,545)
Total expenditure
(233.913)
(11,545)
245,458)
Net income
Transfers between funds
5,849
29.453
13,671
(29.453)
19.520
Net mov¢n)¢nt in funds
35.302
(15.782)
19,520
Re¢on¢ili2tion of funds
Total funds brougbt forward
809.745
26,563
836,308
Total fi￿dS carried forward
22
845,047
10,781
855.828
The notes on pages 23 to 39 forni an integrnl part of these financial statements.
Page 20

Antrim Enterprise Agency Limited
Statement of Financial Activities for the Year Ended 31 March 2023
(Including Income and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Unrestricted
funds
Restricted
funds
Total
2022
IW4ote
Income #nd Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
Oth¢r incou
17
217,976
22,355
292
1,596
17
269.753
22,355
292
1.596
51,777
Total income
242.236
51,777
294,013
Expendithre on".
Raising fi￿dS
ChaTitable activities
(9.759)
(164,091)
(9,759)
(198.781
(34.690)
Total expenditt]re
(173.850)
(34,690)
(208,540)
Net income
68,386
17,087
85.473
Net movement in funds
68,386
17.087
85,473
Re¢on¢ili#tion of funds
Total funds brougbt forward
Total funds carried forward
741,359
9.476
750,835
22
809.745
26,563
836,308
All of the clwity's activities derive from continuing op¢rdtions during the above two periods.
Th¢ fimds breakdovrn for 2022 is shown in note 22.
The notes on pages 23 to 39 forni an int¢graL part of these f￿anCIal statements.
Pag¢21

ADtrim Enterprise Agency Limited
(Registration number: N1026172)
Balance Sheet as at 31 March 2023
2023
2022
Note
Flxed assets
Tangible assets
16
604,379
596,775
Current assets
Debtors
Cash at bank and in hand
L7
18
23,712
399.315
18,875
396.038
423,027
414,913
Creditors: Amounts falling due witbin one year
19
(81,114)
(70,727)
Net current a$$ets
341,913
344,186
Total assets less current liabilities
946,292
940,961
Creditors: Amounts fallinE due After more than one year
20
(90,464}
(104,653)
836,308
Net assets
855,828
FuDds of the ¢harity:
Restricted income fvnds
Restricted fimds
22
10.781
26,563
Unrestrlded fincome funds
Unrestricted funds
845.047
809.745
Totsl fuDds
22
855.828
836.308
The5¢ fmancial statements have been prepared in accordance with the special provisions relating to compatiies
subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 20 to 39 were approved by the trustees, and authorised for issue on 11
September 2023 aod signed
tbeir behalf by:
rof J Walla¢¢
Chaitman and Tn]stee
The notes on pages 23 to 39 form an integrdl part of thcse fmanGial statements.
Page 22

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
I Charity status
The charity is a private company limited by guarantee. incorporated in Northern Ireland, and consequently does
not have share capital. Each of the trustees is liable to contribute an amount not exc¢¢ding £ I towards the assets
of the charity in the event of liquidation.
The addres5 of its registered office is 58 Greyslone Road, ANTRIM. B T41 IJZ
These financial statements were authorised for issue by the trustees on I I September 2023.
2 Aecounting policies
Summary of significant accounting policies And key Aeeounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consislenily applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in aeeordance with Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to cliarities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January
2019) - (Cliarilies SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102), the Charities Act (Northern Ireland) 2008 and the Companies Act 2006.
The charity is a Public Benefit Entity as defined by FRS 102.
Basis of preparAtio
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the
relevant accounting policy noles.
The presentational currency of these financial statements is sterling and amounts have been rounded to the
nearest £1.
Going concern
The financial statements have been prepared on a going concern basis &$ the trustees consider that Iliere are no
material uncertainties about the charity's ability lo continue as a going concern nor any significant areas of
uncertainty that affect the carrying value of assets held by the Charity. The trustee5 have considered both th¢
level of funds held and the expected level of income and ¢xpenditure for 12 months from authorising these
financial statements, taking inlo Consideration all relevant factors including the Covid 19 pandemic.
Page 23

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Judgements
The prepardtion of the financial statements requtres the Trustees to moke judgements. estimates and &8sumptions
that affect the application of accounting poLicies and the reported amount of assets and liabilities. income and
expenses. The estimates and asso¢iated assumptions are based on historical experience and other factors that are
onsidered to be r¢l¢vallt. Actual results may differ frorn thes¢ estimates.
The estin￿teS and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimate is revised where the revision affects Only that period. or in the
p￿10d of the revision and filture periods where the revision affects both current and futh periods.
Key sources of estimation uncertaiDty
Tangible Fixed &8sets
Tangible fixed &ssets are depreciated over their useful economic lives taking into account residual values. wher¢
appropriate. The actual lives of the assets and residual values ate assessed annually and may vary depending on
a number of factots. In re-as5¢ssing asset liv¢s, fadots such as maintenance progrdmTnes and te¢bnologi¢aL
innovation are taken into account. Residual value assessments consider issues such as future market condttions,
the remaining life of the asset and projecfrd disposal values. The cwing amount is £604,379 (2022
-£596.775).
Income and endowments
All income is recognised once there 15 a legal or constructive obligatlOD to that income after any perfornmce
onditions have b¢en meL the amount can be measured reliably and it is probable that incorne will be received.
All income is allocated to the applicable income heading that aggregate similar income to that category.
Dontthons and legacies
Donations are recognised when the charity has been notified in ￿ltillg of both the amount and settlement date.
In the event that a donation is Subject to conditions that require a level of perforniance by the charity before the
charity is entitled to the funds, the income is deferred and not recognised until either those conditions are ￿llY
me¢ or the fi]lfiiment of those conditions is wholly within the Gontrol of th¢ tharity and it is probabl¢ that these
conditions will be fidfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitl¢m¢nt to the funth and any conditions linked to the grdnts
have been met. Where performance conditions are attached to the grant and are yet to be meL the income is
recognised as a liability and in¢luded on the balall¢e she¢t as defe[￿d income to be rele2SC
Other trading t7cÈivilies
The cbarity generates rental income by uti]ising the business workspace to further its primary aims and
objectives.
Invthentincome
tnterest on fimds held on deposit is included when ￿ceIVable and the amount can be reliably measuted by the
Charity" this is DOrn]ally upon notification of the interest paid or payable by the bank.
Pa￿ 24

Antrim Enterprise Agency Limited
Notes to the Financial Statements for tbe Year Ended 31 March 2023
Charitable activiti
The charity undertakes activities to further their ain￿ and objects in a number of areas including:
Workspace & Business Space
Support Programmes
start.up Pro￿1)me$
Pre.Start Programmes
Eoterprise Progrdmmes
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to tbat expend1tt￿e. it is probable
settlement is required and the anwuDt can be measured reliably. All costs are allocated to th¢ applicable
expendittwe heading that aggregate similar costs to that category. Where costs cannot be directly attributed to
particular headings they have been allocated on a basis consistent with the use of resources, with central staff
costs allocated on the basis of time spenl and depreciation charges allocated on the portion of the asset's use.
Other support costs are allocated based on the spread of staff costs .
Raisingfunds
These are costs in attracting voluntary i￿Orne. the management of investments and thos¢ incutred in trading
activities that raise fi￿ds.
Charitable activilies
Clwitable expenditure comprises those costs incurred by the charity in tbe delivery of its activities and service5
for its beneficiaries. It includes both costs that can be allocated directty to such artivities and those costs of an
indirect nature necessary to support them.
Support costs
Support costs include central functions and have beell allocated to activity cost categories on a basis consistellt
with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by
Spent and other Gosts by their usag¢.
Governance costs
These include the costs attributsble to the charity's compliance with constitutional and statutory requirements,
including audil strategic management and trustees's rneetings and reirabutsed expenses.
TaxatioD
The clwity is considered to pass the tests set out in Para￿aPh I Schedule 6 of the Finance Act 2010 and
therefore it meets the definition of a charitable company for UK ¢OTporation tax PUTposes. Accordingly. the
clwity is potentially exempt from taxation in respect of income or capital gains received within categories
overed by Chapter 3 Part I l of the Corporation T&x Act 2010 or Section 256 of the Taxation of Clwgeable
Gains Act 1992, to the extent that such income or sains are applied exclusively to clwitable putposes.
T2ngibl¢ fixed #s$et$
Tangible fixed assets (individually costing £100 or more) are initially measured at cost and subsequently
measured at cosL net of depff¢iation and any impairnlent losses. The company &8sess¢s at Teporting date
whether tangible fixed assets are impaired.
Page 25

AntrAm Enterprise Agency Limited
Notes to the Fillancial Statements for the Year Ended 31 March 2023
Depreciation and amortlsation
Deprectation is provided on tangibl¢ fixed assets so as to write off the cost or valuatioo le&g any estimated
restduaI value, over their expected useful economic life as follows:
Asset class
Land & Buildings
Furniture & Equipment
Depreciation method and rate
2_IOO/o straight line
150/0- 33.30/0 straight line
Trade debtors
Trade debtors are amounts due from customers for services perfornied in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost
using tbe effective interest rneth0￿ less provision for impairment. A provision for the impairment of trade
debtors is established when there is objective evidence that the charity will not be able to collect all amounts due
according to the original tern￿ ofthe receivables.
Cash and cash equlvalents
Cash and cash equivalents comprise cash on hand and call deposits. and oth¢[ short-terni higbly liquid
investments that are readily ¢onv¢rtible to a knovrn amount of cash and are subject to an insigntficant risk of
change in value.
Trade creditors
Trade creditors are obligations to pay for goods OT services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as cu￿ent liabilities if the clwity does not have an
unconditional righL at the end of the Teporting perioiL to defer 5¢tt1ement of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to d¢f¢T settlement for at least twelve months
after the reportlng date. they are presented &5 non-current liabilities.
Trade credilors are recognised initially at the traDsa¢tion pric¢ and subsequently measured at amortised cost
Using the effective interest method.
Borrowings
Int¢rest-b¢aTing boTrowings arc initially recorded at fair value, net of transaction wsts. tnterest-bearing
borrowings are subsequently carried at arnortised cosL with the difference between the proceeds, net of
transaction costs, and the amount due on redemption being recognised as a Charge to the Statement of Financial
Activities over the period of the relevant borrowing.
Interest expense is Tecognis¢d on th¢ basis of the effective interest method and is included in int¢r¢st payable
and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of
th¢ liability for at least twelv¢ months after the reporting dats.
Fund structure
Unrestricted income funits are geneTal funds that ar¢ availabl¢ for use at the t￿SteeS discretion in fi￿erallCe of
the objectives of the charity.
Designated fi￿dS are unrestricted fimds set &8ide for spe¢ifi¢ pury)ses at the discretion of the trustee5.
Page 26

Antrim Enteryrise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Restticted income funds are those donated for U5¢ in a particular area or for specific purpose4 the use of which
is restricted to that area or purpose.
Pensions Alld other post rettrement obligations
The clwity operat¢s a def￿¢d Contribution pension schenie whirh is a p¢nsioll plan under which fixed
contributions are paid into a pension fund and the charity has no legal or constmctive obligation to pay further
contributions even if the fund does not hold Sufficient assets to pay all employees Ihe benefits relating to
employee service in the current and priorperiods.
Contributions to defmed contribution plans are rerogDis¢d in the Stst¢m¢nt of Financial Activities when they are
due. If contribution payments exceed the contribution due for service. the excess is Tecognised as a pr¢payDienL
Flnancial instruments
Classification
Financial &8sets and financial liabilities are recognised when the charity becomes a paty to th¢ contractual
provisions of the instnuneTht.
Financtal liabilities and equity ]￿trUMents are classified according to the substsllce of the contrdctual
arrangements entered into. An equity instrument is any contract that evidenc¢5 a residual interest in tbe assets of
the charity after deducting all of its liabilities.
Recognition and meofurement
Basic fllwicial assets
Basic financial assets, whi¢h include debtors, cash and bank balances. are initially measured at transaction price
including transaction costs and are subsequently carried at amortised cost using the effective interest method
unless the arrangement constitute5 a fjnancing transaction, where the transaction is measured at the present
value of the future receipts discounted at a market rate of interesL Financial assets classified &8 receivable within
one year are not amortised.
Basic financial liabilities
Basic financial liabilities. which include creditors and loans. are initially measured at traDsaction prtce unless the
aTrangement constitutes a financing transaction, where the debt instnllnent is measured at the present value of
the future payments discounted at a market rate of interest. Financial liabilities Classified as payable within one
year are not amortised. Fillancial liabilities are derecognised when the Charitys contractual obligatioDS expiT¢ or
are discharged or Cancelled.
Impairment
For fttwlcial assets carried at amortised cosL the amount of impairnient is the difference between the asset's
carying amount and the present value of estimated ￿tUre ¢asbfiows, discounted at the financial asset's original
effective interest rate. For financial assets carried at cost less impainnenL the impainnent loss is the difference
between the asset's caThying amount and the estimate of the amount tbat would be received for the asset if it
re to be sold at the reporting date.
Where indicators ¢xist for a decrease in impairrnent loss, and the decrease can be related objectively to an ¢vent
occurring after the impairn]ent was recognised, the prior impainnent 105S 15 tested to deternline reversal. An
impaillnent 105s is reversed on kn individual impaired fmancial asset to the extent that the revised ￿0Verable
value does not lead to a revised cwing amount higher than the carrying value had no impairn]ent been
recogni5ed.
Page 27

Antrim Enteryrise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
3 Intome from donations f4nd leEAeies
Unrestritted
funds
General
Total
2023
Donation5 and legacies.
Donations from individuals
67
67
67
67
Unrestricted
fullds
Gelleral
Total
2022
Donation5 and legacies;
Donations from individuals
17
17
17
17
4 Income from ch4ritsble activitie5
Unrestricted
fund5
General
Restricted
funds
Total
2023
Workspace & Business Space
Existing Business
start.up Programmes
Pre-start Programmes
Ente￿rise Education
219,869
3,499
219,869
3.499
19,080
6268
(129)
19.080
6,268
(132
25.216
223.371
248,587
Unrestrlcted
funds
General
Restricted
funds
Total
2022
Workspace & Business Space
start.up Programmes
Pr¢.Start Programme5
Ente￿rise Education
217,016
960
217.016
39,422
13,157
158
38,462
13.157
158
217.976
51.777
269,753
Page 28

Antrim Enteryrise Agency Limited
Notes to the Finan¢AaI Statements for the Year Ended 31 Marcb 2023
5 Income from other trading activities
Unr¢stricted
funds
Gener41
Total
2023
Total
2022
Other income from other trading artivitie5
10,571
10,571
22,355
10.571
10.571
22.355
6 Investment income
Unrestricted
funds
General
Total
2023
Interest receivabl¢ and similar income"
tnterest receivable on bank deposits
3,905
3,905
3.905
3,905
Unrestricted
funds
General
Total
2022
Interest receivable and similar income.
tnterest Teceivable on bank deposits
292
292
292
292
7 Other income
Unrestrieted
funds
Gell¢ral
Total
2023
Total
2022
Other income including government grants
1,848
1.848
1.596
Page 29

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
8 Expenditure on raising funds
a) Costs of trading activities
Allocated
support Costs
Total
2023
Dfirect eosts
Staff costs
Costs of trading activities
7.902
2.459
Allocated
SUPPOrt Costs
10,364
Total
2022
Direct ¢05ts
StatTcosts
Costs of trading artivities
30
6,179
3,550
9,759
9 Expenditure on cbaritable fdctivities
Activity
undertaken
directly
Staff costs of
activity
Aetivity
support costs
2023
Workspac¢ & Business Space
Existing Business
start.up Programmes
Pre-start Programmes
Ente￿rise Education
GoveTnan¢e
71.261
833
11,758
1,607
167
4.522
29.397
19,584
21,903
9,311
3.462
26.991
9.141
6,096
6,818
2,898
1.078
8,267
109,799
26,513
40.479
13.816
4.707
39,780
90.148
Activity
undertaken
directly
110.648
34.298
235.094
Stsff costs of
activity
Activity
support costs
2022
Workspace & Business Space
Existing Business
start.up Progrdmmes
Pre-start Programr(
Enterprise Education
Governance
42,364
2,179
25.385
7,346
2,853
3,288
20,748
23,945
14.586
6,811
3,683
9.627
9,379
10.855
6.612
3,088
1,669
4.363
72.491
36.979
46,583
17,245
8,205
17.278
83.415
79,400
35,966
198,781
£223,549 (2022- £164,091) of the above expenditure was attributable to unrestricted fimds and £l1.545 (2022-
£34,960) to restrithd fund5.
Page 30

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
tn addition to the expenditure analysed above, there are also governance costs of £39.780 (2022 _ £17.278)
which relate directly to charitable activities. See note 10 for furtber details.
10 Attalysis of governance and support eosts
Governance costs
Unrestricted
funds
GeDeral
Total
2023
Staff Costs
Wages and salaries
Social secuTity costs
Pension costs
Other staff costs
Audit fees
Audit of the financial statements
Other fees paid to auditors
Other govemance costs
Allocated support costs
22,150
922
1,305
2,614
22,150
922
IJ05
2.614
1,650
375
1,185
9.579
1,650
375
1.185
9.579
39,780
39,780
Unrestricted
funds
Genernl
Total
2022
Staff costs
Wages and salaries
Social swity costs
Pension costs
Other staff costs
Audit fees
Audit of the finan¢iaI statements
Other fees paid to auditors
Prof¢ssioJJal fees
Other governance Gosts
Allocated support costs
8.703
343
545
35
8,703
343
545
35
1,650
375
268
923
4,436
1,650
375
268
923
4.436
17.278
17,278
Page31

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year EDded 31 March 2023
11 Net incomingloutgoing resourc
Net incoming resources for the year include:
2023
2022
Audit fees
Loss on disposal of fixed assets held for the charity's own use
1.650
7.928
1,650
12 Trustees remuneration and expenses
No trnstees, nor any persons connected with the￿ have received any remuneration from the charity during the
year.
No trustees have received any reimbursed expenses or any other benefits from the clwity during the year.
13 Staff costs
The aggregate payToII costs were a5 follow$:
2023
2022
Staff costs durlng the year were:
Wages and salaries
Social security costs
Pension costs
Other staff costs
98.479
4.098
5.803
10,168
77,305
3,050
4,844
380
118.548
85.579
Th¢ nwnthly av¢rdge number of persons (including senior rnanagern¢nt I l¢ad¢rsbip team) employed by the
charity during the year expressed as time equivalents was as follows:
2023
2022
Charitable activities
Governance
No employee ieceived ernolumellts of tnor¢ than £60,000 during the year.
The total employee b￿efits ofthe key management personnel of the charity were £41,000 (2022 - £38.332).
Page 32

Antrim Enterprise Agency Lin)ited
Notes to the Financial Statements for the Year Ended 31 March 2023
14 Auditors remuneration
2023
2022
Audit of the fmancial statements
1,650
1,650
Other fees to auditors
All other non-audit services
375
375
15 Taxation
The clwity is a registered charity and is therefore exempt from taxation.
16 Tangible rued 95sets
Land and
buildings
Furniture 4Dd
equipment
Total
Cost
At l April 2022
Additions
Disposals
2,131,343
18.724
(18.255)
158.050
8.496
(27,274)
2.289.393
27,220
45,529
At 31 March 2023
2,131,812
139,272
2.271.084
Depreciation
At l April 2022
Cbarge for the year
Eliminatrd on disposals
1,541.855
8.364
(10,327)
150.763
3,324
27,274
1,692,618
11,688
37.601)
At 31 Marcll 2023
1.539.892
126.813
1,666,705
Net book vdue
At 31 March 2023
591,920
12.459
604,379
At 31 March 2022
589.488
7,287
596,775
17 Debtors
2023
2022
Trade debtors
Prepayments
Accrned income
Other debtors
10,889
4.347
1.195
7,281
7.614
3,980
7,281
23.712
18,875
Page 33

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
18 Cash and c*5h equivalents
2023
2022
C&8h on Iland
Cash at bank
19
396,019
399,306
399.315
396,038
Balances held by the charity that are not available for use by the charity
2023
2022
Balances held by the Charity that are not avaiEable for use by the charity
17,969
14,669
Included witbin casb are amounts relating to tenant deposits held by the clwity. These arnoullts have been
ring-fenced by the trustees and may be repaid to the tenants upon satisfactory completion of their rental
ontracts. As such the trustees have decided not to spend these funds and included a CO￿espOndIng creditor in
the financial statements and as such there is no effect on the net assets figure.
19 Credltors: amounts fxllillg due wlthin one year
2023
2022
Bank loans
Trade creditors
Other loaDS
VAT repayable
Other creditors
Acc￿￿1$
9,924
20.628
4.319
6,678
18,442
21.123
9,550
16.074
4,065
7,939
14,668
18,431
70,727
81,114
Page 34

Antrim Enterprise Agency Limited
Iyotes to the Financial Statements for the Year Ended 31 March 2023
Bank borrowings
Bank loan is denominated in sterling with a nominal interest rate of 2.50/0 (2021 _ 2.5Yo), and the final instalment
is due on l July 2026. The carrying amount at year end is £33,256 (2022 - £42,958).
Other borrowings
UCIT with a cwing amount of £71,451 (2022 - £75,311) is denominated in sterling with a nominal interest
rdte of 80/• (2022- 6f/*o). The fmal instalment is due on 12 September 2034.
20 Creditors: amounts falling due after one year
2023
2022
Bank loans
Other loans
23.332
67,132
33,407
71,246
90.464
104,653
tncluded in the creditors are the following amounts due afteT more than fiv¢ yws:
2023
2022
After more than five years by instalments
46,942
52.281
21 Pension and other 5cheme5
Defilled contribution pension scheme
The charity operates a defined contrlbution pension scheme. The pension cost charge for the year represents
contributioDS payable by the charity to tILe scheme and amounted to £5.803 (2022 - £4,844).
Page 35

Alltrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
22 Funds
B#l2nte at
31 March
2023
Balance at I
April 2022
Incoming
resources
Re50urce5
expended
Transfers
Unrestri¢ted funds
General
Operational reserves
Assets in R¢serv¢s
142,970
596,775
223,839
15,923
(222,600)
(11,313)
(25.547)
118,662
601,385
739,745
239.762
(233,913)
(25,547)
720,047
Desisnated
Designated Reserve
55.000
125,000
Total unrestricted funds
809,745
239,762
(233,913)
29,453
845,047
Re5tri¢ted funds
The Shed Antrim
Areas At Risk- It's All
About Me
Exploring Ente￿rise -
Enkalon
Business Start Up Coaching
ProgTamTne
Starttneupshow
Mind Your Business &
Finance
Halifax grant
Social Enteiprise
Programme
Entrepreneurship
Programrne
7,709
(132)
(7,577)
1,350
(1.350)
7,608
(7,608)
7,704
2,192
2,478
6,000
(2,317)
(3,139)
(7,865)
(5,053)
3,200
3,869
(1.620)
(374)
1,580
3.495
2,231
2.231
7,183
220
167
(3.929)
(166)
3,254
54
167
SULF
ENI Start Her Up
Totsl restricted funds
26.563
25.216
(11,545)
(29,453)
10,781
Total funds
836,308
264,978
245,458
855,828
Page 36

Antrim Enterprise Agency Limited
Notes to the Fillancial Statements for the Year Ended 31 March 2023
Balance at I
April 2021
Incoming
resources
Resources
pended
Balance 2t 31
Mareh 2022
Unre$trieted funds
General
Operational reserves
Assets in Reserves
70,957
600.402
242,236
(170,223)
{3.627)
(173.850)
142,970
596.775
671,359
242,236
739.745
Designated
Designated Reserve
70,000
70.000
Total unrestricted funds
741,359
242.236
(173,850)
809,745
Restri¢ted
The Shed AntTim
Areas At Risk- It's All About Me
Exploring Entetpri8e- Enkalon
Business Start Up Coaching
Progralljme
Starttneupshow
12.591
1,350
(1.896)
(2,986)
7.709
1.350
7.608
12,211
{4.603)
(4,465)
38,462
3,000
(26,293)
(808)
7,704
2,192
Total restricted funds
9,476
51,777
(34,690)
26,563
Total funds
750.835
294.013
(208,540)
836,308
Page 37

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
The specific purposes for which the fi￿dS are to be applied are as follows:
The Shed AntTim (f0rn1erly called HER SHE'd) project is a follow through from the successful pilot programme
in 2019. The participants have received fi￿dIThg througb Peace IV to develop the group and purchase start up
equipment to nui sessionslworkshops in trdd¢sthaberdashery and ￿, along with funding from Big Lottery
Awards for All towards rullning costs and equipment.
The Areas At Risk- It's All About m¢ fimd delivers a Irf¢ skills progratt]me to year 9 pupils aitned at enhancing
and developing their entetPTenieurial skill and delivery of confidence building and self-image to year 13
students to enable them to develop their skills and abilities and the utilisation of these in future life, education
and career.
Enkalon Foundation - Exploling Enterprise Programme fi￿d is 250/0 funding of an Enterprise & Employability
Programme comprising of l_l rnentoring. group training and an accreditation to enhance participant skills for
r¢-¢rnploymenL employftnent or self-employment aimed at individuals who are economically inactive,
unemployed or working part-time. The Exploring Ent¢rprise Programme is match funded througb ESF and the
Department for th¢ Economy and ANBC.
Business Start Up Coaching Progra[[￿e is an Alltrim and Newtownabbey Borough Council funded progralljme
rnanaged by Antrim Enterprise and delivered in partnership with LEDCOM and Mallusk Enterprise. The
programme aims to support participants who have completed a business plan under the Northern Ireland
Business Start Up programme (Go For It). They are able to avail of coaching in a range of business areas along
with a small bursary towards start-up costs.
Start Me Up Show funded thmugh Antsim and NewtOWDabbey Borough CoutLciI and Department for
Communities Area at Risk Fund is designed to work with individuals within the wards of Farranshane, Steeple
and Ballycraigy specifi¢ally intended to inspire participatLts to start the journey of self-emplo￿eDt. It was
ain]ed at addressing tbe batriers faced by individuals looking to start their own business and consisted of a series
of motivational events featuring inspirdtional local entrepreneurs. supported by tailored coaching to allow
individuals to embark on the first steps of their entrepreneuriaijoumey.
Build My Start Up Clintcs - Following redevelopment and rebranding of the Mind Your Business & Mind Your
Finance clinics, Antrim Enterprise launched their Build My Start Up series during 2022-2023. Under th¢ suite of
SUPPOTL four clinics are delivered covering business & legals. personal finance. business finance and health &
well-being. The Ethlon Foundation has provided grant funding for two years covering 500/0 of the ¢osts of
these clini¢s.
Halifax Foundation equipment grdllt - During the course of the year The Halif&x Foulldation Northetn Ireland
awarded £3.496 towards the purchase of Meeting Owl Pros and Sall￿ung Smart 4k Ultra HR LED TVS. This
was to allow AntTim Enterprise to revert a rnore effective hybrid approach to training.
Social Enterprise Programme is an Antrim and N¢wtownabb¢y Borougb Council funded progrdnurye managed
by Mallusk Enterprise Park and delivered in partnership with LEDCOM and Antrim Enterprise. The programme
supports groups and individuals exploritig social enterprises. They were able to avail of workshops and one to
one mentoring.
Page 38

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Entrepreneurship Programm¢ is atl Antrim and Newtownabbey Borougb Coullcil Ojnded programme managed
by Antrirn Entetprise and delivered in partnership with LEDCOM and Mallusk Enterprise Park. Participants
could avail of pre-coaching & ttaining before progressing to the Go For It programme. Once their business plan
was completed under this prograTnme, they could revert back to the Entrepreneurship Programme for post start
up coaching.
SULF - Our membersbip organisation Ente￿ilSe NI is the business support partner delivering Start Up LoaDS
(SULF) on behalf of British Business Bank in Northern Ireland. Antrim Enterprise as a member, supports clients
with one year of mentoring if tl]ey are recipients of a loan.
Enterprise NI in parthership with Ulster Bank ran the Start Her Up progrdmme. As members of EnterpTi5e NI,
Antrim Ente￿riSe hosted one of the workshops under this pmgrdmme for women exploring selfpemployment in
the Antrim alld Newtownabbey borougb area.
23 Analysis of net assets between funds
Unrestricted
fund5
Other
Total funds rdt
31 March
2023
R¢stri¢t¢d
funds
Tangible fixed assets
Current assets
cU￿¢￿t liabiliti¢s
Creditors over l year
601.385
415,240
(81,114)
90.464
2.994
7,787
604.379
423,027
(81,114)
90.464)
855.828
Total net assets
845.047
10.781
Unrestricted
funds
Other
TotAI funds at
31 March
2022
Restricted
funds
TatLgible fixed assets
Current assets
Current liabilities
Creditors over l year
596.775
388,350
(70,726)
(104.654)
596,775
414,913
(70,726)
(104.654)
26,563
Total net a55ets
809,745
26,563
836.308
Page 39