Company regl8tration numb¢r. N10261n Chrity re8islratlon nvmbvr.. IOL21J Antrim Ente￿rise Agency Limited (A Mmp¥ny Ilmited by guaranteo) Annual Report and Financial Siatemen for the Y¢ar Ended 31 Maroh 20 D. T. CARSON & Co CHARTERED ACCOUNTANrs 51- 53 THOMAS STREET BALLYMENA CO. ANTR BT43 6AZ TEL . 028 2565 2389 FAX . 028 2565 1295 Email . info@dtcarson.eom CHARTERED ACCOUNTANTS RELAND Antrim Enterprise Agency Limited Contents Reference and Administrativ¢ Details Twst¢es' R¢port 2to15 Independenc Auditor's Report 16to19 Statement of Financial Activities 20to21 Balance Sheet 22 Notes to the Financial Statern¢nlS 23to40 Antrim Enterprise Agency Limited Reference and Administrative Details Cbairman Pmf J Wallace Trustees Prof J Wall&c¢ R W Calms L McKllight Dr I Sm)tb D Bany A Mcmurtric J Atkinson S Moon M Patterson Setr¢t*ry J McWillian)s Senlor Manage￿ellt I Ikadership J mcwilliall￿, Chief Executive 0￿1Ccr Team Cbarity Registrv4tioll Number 101211 Company Reglstration Number N1026172 The charity is incorporated in Northern Ireland. Registered Office 58 Greystone Road BT41 IJZ Auditor DT Carson & Co. 51- 53 Thomas Street Ballymena Co. Antrim BT43 6AZ Page I Antrim Enterprise Agency Limited Trustees, Report The TnLStees are pleased to present their annual directors, report together with the financial statements of the charity for the year ending 31 March 2024 which are also prepared to meet the requirements for a direclors, report and accounts for Companies Act 2006 purposes. The financial statements ¢omply witb the Chatitics Act 2008, tb¢ Coll]panies Act 2006, tlle Memorandum and Articles of Associatio￿ and Accounting and Reporting by Charities.. Statement of Recommendcd Ptactice applicable in the UK and Ilepublic of Ireland (FRS I02) (eftective l Jan 2019) Chair'5 Report OD behalf of thc director5 and trustees of Antrim Ente￿rISC Agellcy l am delighted to preseTht a review of the activities for the year end 2024. 2023-2024 bas been another busy ycar for tbe charity supporting individuals into s¢lf-¢nJployrnent alld along their eotreprcll¢urial journey. We do this by providing advice. guidancc and training to individuals starting a b￿L￿esS to those e5tablislLed. ITh addition. we hav¢ a b￿SineSs park housing 37 industrial units. WWOTkiDg unil Tbe Hatcb¢ry NI and collaborative offi¢¢ suite NEXTSpac¢. Oui public fill￿l￿g is not only cruci81 to our existence, it, also ¢nsur¢s that we contribute to Ihe strat¢gic dev¢lopttLent of our scctor. We arc grateful to our fijnders: Antrim and Newtowiabb¢y Borough Council, Th¢ DePartn￿llt for Economy, Antrim and Newtownabbey Labour Market Partller5hip. UK Govenllnellt through the UK Shared Prosperity Fund, TILe Enkalon FouThdatlOD Ms well as two private donors Trithin the borougb and one from the United Stales of America. We continue to be members of Enterprise Northern Irelalld, Social Enterprise Northern Ireland and Northern Ireland Community Voluntary Association. The Charity also joitied the newly fonned Antrirn Challkber of Cornn￿rce during the year. The Chief Executive is a member of the Chief Executives of the Third Sector alld is a r¢pr¢sentativ¢ OL the Antrim and Newtownabbey Labour Market Partnership. Such Meznbersbip demonstrates Antrim Etttetprise's commitmellt to the enterprise eeo-system as well as entheds the charity in the local onllrnunity of Antrirn and N¢wtownabb¢y Borough. In addition. we would like to acknowledge our association and working relationship viith our neigbbouting enterpri￿ Centres LEDCOM and Mallusk Entsrprise Pa￿ Ltd which fa¢ilitates the delivery of several prograMft￿s of business support during the year. Like many social ente￿rises and cllarities, Antrim Elltcrprisc is elllering a period of sO￿e unccrtaillly around continuity of progrdmme funding and challcngcs with rec￿ltme￿L A new Business Advisory team havc bccD recently appointed and we look fonvard lo them empowering more entrepreneurs within thc borough and contributing to the sucess of AtLtrim Enterprisc. The TLWtees ate cotntnitted to fulfilling thcit chaTitable objectives and iThvesting in tbe fabric of thc cntctprise agency with upgrades and improvements to thc park Pcnultiniately. I would like to tske the opportunily to thalth my fellow directors for thcir support. collegiality. and enthusiasoi during the year. We also ¢xt¢nd our thanks lo outgoing diroGtor Mark Cosgrove who served on the board for almost eight years. My special tlw)ks also to our longest serving director, Wintfred ( Freda) Waite who retired after 32 years of dedication to the role. As one of the founding directors at the social etjterprise. she brought a wealth of experience and her hard work and dillig¢nce bas greatly colltributed to making Antrim Enterprise lh¢ social enterprise it (s today. Page 2 Antrim Enterprise Agency Limited Trustee5' Report W¢ also welcomc two new In￿teeS to thc boaTd Simon Moon and Matthcw Mcclelland who bring experience in constmctionlproperty and accounting. We look fonvard to their ongoing Colltributions to the board. J Wallace Chair 9 September 2024 Page 3 Antrim Enterprise Ageney Limited Trustees, Report The trustees. who are directors for ihe purposes of compaDy law, present the annual report togetlLer with the financial sIatell￿nts of the charitable company for the year ended 31 March 2024. Objectives and activities Objecls and dims Vision, Mission and Values Vision Established in 1991, the enterprise has the following vision: To be the destinalion of choice for entsrprife developmen4 enabling budding entrepreneurs to develop 4nd grow 4 successful business. tliereby achieving Ill￿r entrepreneurial drewrts. Missio Our mission is to help oihers to wio achteve tbeir dreams and quality of life &spir8tion tl)rougb enterprise education, pre and start-up initiatives. dev¢loping business support, property and meeting room facilities. Th¢se aims also s¢¢k to ¢Dh8nce th¢ wider public benefit that flo￿ from their successfi]l implementation. Values Fundamental to our success im achieving our vision and n)is510￿ is the fact that quality underpins everything we do. and w¢ do it with pride which ellcompasses our core valu¢s: Passlon: Our staff are emotionally committed employees. passionate about their work and the organization they work for Respect.. We are about treating all people [directors. staffj custorners. clients, suppliers stakeholders] with dignity and value ihe couective power of teamwork Integrity.. Antrim Ente￿rise is about being honest and having strong moral principles in all our day-to4ay dealings with customers, Clients and suppliers Dedication: Antrim EDterprise fosters strong teamwork and eocowag¢s personal initiative and growth within the workplace Ex¢¢lEence: We strive to excel ITh every aspect of our business and deal with every tssk with a d¢termination to succeed Page 4 Alltrim Enterprise Agency Limited Trustees, Report Aims The enterprise th¢ following aim5: l. Promoting ¢nt¢rprise in Antrim and N¢wtowHbbey Borough 2. Supporting the sustainabÈlity and growth of existing businesses 3. Strengthening local economies and promoting community cohesion 4. Increasing Antrirn Ellterprise's resowces and capacity Antrirn Cnterprise's main activitie5 and beneficiaries are detailed in this report. All our charitable activities focus on prorllotion of urban and economic regeneration in the Alltr1￿ and Newtownabbey borough. Evcry activity 15 asscsscd in respcct of its impact on beneficiaries and its contribution to charitable activitics 50 that Trustees may detertnine the best allocation of resources. Objectives. slrotegies and oclivities Objects Despite the challeThgÈDg year that I￿$ been. the enterprise c£lltre has been busy achi¢ving its charitable objects. Thes¢ being:_ l) Promote urban atkd rural regeueration for the public benefit in the Antrim area and its environs (the "area of b¢n¢fit'), being an area of 80cial al￿ e¢onomi¢ d¢privation. by all or any of the following means.. a. The reli¢f of unenwloyment in such ways as may be thought fiL including assistance to fjnd employrnent. b. The advancement of educatio￿ traitiing, or retrainin& particularly among unemployed people, and providing unemployed people with work experience The provkSLOn of financial assistance, technical assistance or bu5incss advicc or consultancy to provide training and Cn]ploy￿Cllt opportuuities foT unemployed people io cases of financial or otber cbaritable need thTough help i) in setting up their own business. or ii) to cxisting business d. TILe piornutioll and support of Social cnterprise and sustainable means of achieving economic growth and rcgcncration . Th¢ crealioo ol tr&iniug and employmenl opportunities by the provision of workspace. buildings andlor land for use on favourab16 tcrllLS 2) Advan¢¢ ¢ducation for the public ￿ll￿fit by raising awareness and increasing knowledge of the importance of nomic enterprise, entrepreneursbip and ¢nt¢rpris¢ sustsinability, in particular among members of local community groups and young p¢ople 3) Advallce comttulrrity dev¢loprn¢Dt in the area of benefii and kn particular the promotion of the comrnuDity and voluntary sector lor the benelil of the public by providittg facilities. supporÉ and information to and promoting good practice among. community and voluntary groups. Page 5 Antrim Enterprlse Agency Limited Trustees, Report Objectlves Specific objectives for the year 2023-2024 were: . To assist in tILe set up alld development of100 businesses per year To maintain our existing workspace & coworking f￿llity and develop alternative offering8 for growing businesses To work towaTds tbe dcvelopment of allother business support service which will contribute towards our surplus Public benefil The public benefits that flow from the aforementioned aims are.. l. A reduction in poverry, unemployment and hardship, leading to a b¢tt¢T quality of life for the beneficiaries and consequent improvements in health and well_bcing 2. Increased levels of self employment and better prospects of .%ustaiDabl¢ de￿lOp￿ellt 3. The ¢r¢alioa of a D￿re educated, skilled and qualificd community 4. A safer. more stable and coheslve community 5. Enhanc¢d knowledge and understanding among adults and children ol the inwortance of all aspects of enterprise development 6. Increascd efficÈeThcy and cffcctivene&s of community and voluntary orgdnisatioDS Some private benefit is obtailled by tbe owners of small businesses who ￿nt untts on favourable tem]s, but this is atwillary and nrf¢ssary to achieving our clwitsble pu￿OSe. No arises from these purposes. The trustees ¢onfirni that they have complied ￿th the requiren￿llts of section 4 of the Charities Act 2008 to have due regard to tbe public beneflt guida￿¢ publisbed by th¢ Clthrity Commission for Northem Ireland. Achievements alld performanee Strotegie Themes Antrim Enterprise continues to review its key strategic priorities througb which its VISIO￿ DJiSSiOll and core objectives are achieved. During the period 2023-2024. the priorities wete: str￿e￿ l.. Property man￿gement and Developmenl Str41ey 2.. Enlerprife Educalion and Promotion s¢rat¢￿ 3.. ProgrtwAJne Delivery and Development Strotegv 4.. Financialsustainability Page 6 Antrim Enterprise Agency Limited Trustees, Report Actlvities & Achievemellts Specific activities and achievenients during the year contributing towards achieving our objectives were: _ Straiezv l.. Property Managemtn14YndDevelopmenÉ Workspace In total the 6ntsrprise centr¢ offers 44.143 sq.li of illdustrial. retail aod office space. Operating at 92 % capacity at year end, 28 busincssc5 arc located ODSitc as tenants located ill 35 units ranging from 500-3,OOOsq ft. Two tenants occupy the four offices kti NEXTSpace" collaborative office suitr and [b￿e licensees are located i The Hatchery Nl in individual offices {IOOQ/o) with another Ibrcc liucuse¥5 in the dediuated suitc (75 /0). There are 90 virtual cliellts using The Hatchery NI as a matling address with three of these also receiving phone answering services. As part of our development of a new propety base, the ente￿rise centre signed a service level agreeD￿tt with Antrim alld NeWtoM￿bbeY Borough Council around the maDagetllellt of a proposed co-working space. The ADtritll Integrated Physical and Economic Regeneration Project fimded through the Levelling Up Fund will illcludc the redevelopment of the former Wellworths buildin& now owned by the Karl Group. in the toThn centre iuto l6,OOOsq foot of offjce aud workspa￿. The project is due to launch Q2-Q3 2024-2025 financial year. Room Hire Antritn Enterprise provid￿ adaptable training and meeting spaces for workshops, trainin& inlcryicws, counselling use. During the course of the year tbe enterprise centre accommodated 29 different organisations and 318 individual bookings. operdting at SOO/0 capacity. 12 additional sessions were hosted for seven different volulltary organsiations. Stratégy 2.. Eft¢erpr¢se Educalion andPromolioA Outreach During the course of the year, Antrim EnteTprise participated in four job fairs and delivered outreach sessions througbout the Antrim side of the borough. strate￿ 3.. Prografttme Delivery and Development Pre￿￿rtS￿ppIprt The Northern Ireland {Nl) Explore Ellterprise Support Service (Programme M2D2ger: Enterprise NI- Fuuder: UK Governmellt through the UK Shared Prosperity Fulld) The Northern Ircland (NI) Explo￿ Enterprisc Swwort Service is a new illitiative delivered by Antrim Enterprise through Entcrprise Northern Ireland in partncrship with Thc Princcs Trust Nl which providcs 5clf_cmp1oy￿eDt or employment support to Ccollomically inactive individuals across Antrin4 Toomebridge, Randalstown and Crumlin. This is a free service that providcs an insight into starting a business or allows economically inactive r¢sid¢nts to take the first steps to gainillg employm¢ut. The Nt Explore Enterprise Support Service offers mentoring and training at a pace tailored to participants need5 and they have the opportunity to work towards achieving a level 2 qualification. Pagc 7 Antrim Enterprise Agency Limited Trustees, Report Our experienced Business Mentors supported 18 participants through a range of activities including: - Over 110 hours of One40￿ne tailoerd m¢nti)ring and guidwe - Signposting to work8hops 8Ad Level 2 traming - Support from the wider ecosystem At year ell￿ four had progressed io Self- EowloJrnenL Start Up Support Start Me Up Show (Funder Ar£a.T ai Risk via Antrim and Newtown4bbey Borough Council and Dcpartment for Communiiies) Th6 Start Me Up Show consistcd of four Start Mc Up shows to inspire, motivate Ind encourage illdividuals into self employment. focusing on 14 speakers across four sections- Creative Industy" Hcalth. Wellbettig and Beauty" Hospitality & Tourism and Fithess & Leisure with 37 attendccs in total. Antrim Enterprise worked with The Ethnic Minority Enterprise and Ernplo￿ent Network to ensure a broad reach. 29 clients re¢iv¢d a total of 41 ILours coaching to build tlleir confidence, motivate and encourage them as w¢ll as assisting with validatirAg ideas and providing legal inforn￿tion. A part of the outpu¢ an action plan booklet was distributed ¢0 Includ¢ Top Tips.. For a Healthy Entrepreneur. For a Success￿1 Start-up and to Manage Your Pe￿Onal Finance. Also in th¢ action plan were eigbt entrepreneurial case studies to cover diversity in gender, econonuc Status, disability, business legal sta￿8 and ethnicity. Participants increased their knowledge of selfomployment and bad the opportunity to ask specific q￿StiOnS with speakers. Participants were signposted to other sourc&% of support including Go Succeed and Explore Enterprise. The majority of clicnts rcported they strongly agreed that they felt nx)re confident alM)Ut considering selfempl0￿￿erLt after attending the event. Build hly Start Up {FuHder.' Antrim Enterprise & Enkalon Foundalioii) Following rcdcvcloptncllt and rcbraudingy Antrim F.nterprise launched their Build My Start Up series during 2022-2023. Under tbe suite of support. four clinics are delivered covering business & legals: personal finance" busin￿% fillatLCC and hcalth & well-bcitig. During the course of the year, two series of clinics were delivcrcd to 12 attendees. Go Succeed (M4nagedby.' Enlerpr4se JVI-FMrtded by." UK Government through UKLevellirtg Up Fund) Go Succeed is a new go-to source for expert business advice led by Northern tr¢tand's eleven local wuncil5. Antrim Ente￿rISe d¢liv¢rs the Engag¢ and Goundation elenwnts within Antr￿￿ crurn11￿ T(￿rn¢bridge and Randalstovm. The service provides betw¢en four and 11 bours of tailored support and guidance to help it￿1vidUalS achieve their business goals. At the year end, the enterprise centre Imd delivered alon￿¢ 100 hours of 5UPPOrt to approximatsly 39 indivtduals commencing on tb¢ir entreprerkeurialjourney. Page 8 Antrim Enterprise Agency Limited Trustees, Report Enlrepreneyship Programme (Funder.. Aftlrim dnd Newlownabbey Borough CouAciI and Antrim and Newtownabbey Labour Market Partnersliip) Thc Enterpreneurship programme Teplaced the Business Start Up Coaching Programme in late September 2022 and completrd Scpternbcr 2023. Thc programmc was su¢¢essfully al￿ded to the consortium Antrim Enterprise, LEDCOM and Mallusk Enterprise Park Antrim Entcry)rise managing the programrne. Under the programme eight worksbops were delivered to 80 attcndces ill total. 119 participants received up to 2hrs of pre Go For Il coaching and 41 participants receivcd up to 5 hrs of post Go For It coaching. 22 clients registered for self-employment comitLg out of post-coaching- Eristing Busiftess Support ASK.. Antrim andNewtownabb£y Borough Council- 2 Clients assigned & corapleted Optimal.. Antrim and Newlownabbey Borough Councll (managed by Mallusk Enterprisé) - I client aS5ign¢d & m¢ntoring compl¢t Start Up Loan Fund.. British Business Bank (managed by Enl¢rpr&se NI) - 2 clieuts support¢d to Obtai￿ Eomn fL￿d with I receiving tnentoring. Nehvorking events As part of our objective to ensure the health and wellbeing of entrepreneurs and rcducc isolation among lone workers, throughout the year, Antrim Enterprise hostrd over 120 attendees across 8 networking events. Events included our Build My Business networking evenL Opencoffee Club and NETWalking sess20llS. Strdiw 4.. FlnaAeiuI Sustainablllty Antrim Enterprise contÈnue to ensure that they are profit making, not profit taking to ensure the long-tetm susÉainability of the organisation. The ente￿rISC ccntre camed income from property rental, room hire alld ftofu business start-up and development progran)mes. Aotrim Enterprise is conscious that it needs lo set up a standalone business which could generate incomc foT the enterprise centrc to offsct thc charitablc costs. The Chief Executive conttllues to work towards the developJneTht of a new business llwdel with tlle appointraent of a Business Development Manager. who onboaTdcd April 2024. Social Impacl The Cbief Executiv¢ sits on the Ajtrim and Newtownabbey Labour Market Partnership. The Chief Executive sits on Antrlm Chamber of Commerce Management Committee along with tbe Skills Sub Committ¢¢. The Chief Executive sits on the board of Enterprise Northern treland along with the Property Sub Conunittee. The Board meet bi-monthly with the Audit and Finance Sub Committee undertaktng tasks on a we¢kIy ba5i5. Taking into consideration both staff and Trustees, in-kind contribution equates to £19,840. Page 9 Antrim Enterprise Agency Limited Trustees. Report Future Plans The agency's strategy 2021-2026 is at n)id poiot and at the time of reporting. reviews and additiotLal strategy sessions have been taking place between directors. Manag¢n￿nt and tbe new business advisory team around the adOpted"Shifti￿g Portfolio" approach to income get￿atiO Antrim Enterprise continues to work toward5 thcit new strategy to identify opportunities for business development. Such issues include: _ • rducing government funding for enterprise development activitics and a rnovc away from enterprise / new business start-up at the general level towards a specific focus Utilising the new skills and thinking from the fresh directots appointcd to thc charity with a desire to see the organisation grow and develop • Emerging discussions with a range of organisations regarding co-operation and stronger partnctsbip working. Antritn Enterprise future strategic priorities for 2021- 2026 are summaris¢d under 4 themes: Strategic Priority One." OrganA*ationalDeveJopment As Antrim Enterpris¢ embarks on this five-year strdtegy. a key priority is the internal developmenl of the organisation with foGus on board and staff development alld succession planning. This will include attractillg and retaillillg the best peopl¢ and dev¢lopment of the leadership abilities and potential of the whole team. Stralegic Priority Two.. Par¢nepship Through our sttategy exercise we have identified a number of organisations that have shared values and syoer8y with ourselves, alld we wtll pursue how these relationships can be nwre fonn&lly developed to allow ijs to continue to deliver excellence in our service offering withill the entetprise eco-system ill Northern Ireland. Stratwc Pr£ority Three.. Business Development Being landlo¢k¢d, AntriEn EtLterprise have excittllg plans to expand our pbysical presence within the borough and to lead th¢ way ill providing modern, accessible, fit for purpose accomlnodation options for our elltreprelleurs to address their various stage of enterprise d¢v¢lopment and growtiL Stralegic Priority Four.. Finance & Resources tn order to achieve the themes already mentione(L Antrim Enterprise will revicw and implement a range of capital raisin8 Options. We will continue to eDSUTC financial sustainability and n￿l￿taill profitsbility by dIVc￿lfyIllg and growiug existing and ncw ievenue Streall￿. Aligned with our organisation developrnent theme, AntTTrrn Enterprise will invest ID tools to equip staff in tILcir contillUOU5 dclivcry of excellence in business start-up aud dcvcloptncnt SUPPQrt. Financial review The total unrestricted incoming resources for the ycar all￿￿￿tca to £346.910 (2023: £239,762) with expenditure of £226.704 (2023.. £233.913) rcsulting ill a llel inci¢ase of unr¢stric*d funds of £120.206 (2023: incrc￿e of £5.849}. This l¢av¢s un￿str￿Cted funds, after transfers of £985,348 (2023: £845,047) at the year end. Page 10 Antrin) Enterprise Agency Limited Trustees, Report Poliey on reserves Th¢ tN8tee5 Consider the RgserY¢ Policy an important part of the internal financial management of Antritn Entetprise Agency. It assist5 strategic planning when reviewing n¢w or potential projectslactivtties. inforn)s the budg¢t process and ¢nabl¢s planning for a balanced budget or use of reserves. and it infornis the budget Mnd risk management proccss by idcntifying any uncertainty in future incom¢ streams. Reserves are reviewed in detail annually but also monitored throughout the year to asses8 any build-up of reserves or unexpected depletion of these. Operational Reserves are required to allow tbe orgaDisation to continue to deliver its clwitable objectives and seek alternative filnding sources, sbould existing annual fill￿l￿g be restricted and to provide assuran¢¢ against a risk of an unforeseen ernerg¢ncy or other unexpected need for funds. In addition, Operational Reserves provide ' the organisation with th¢ ability to react to short temi opportunities. In quantifying tkn level of Operdtional Reserves required, the level of net current assets and liabilities are compared to the average monthly expenditure. The risk associated with futtre incomes, grants and expenditllre are also considered. As a result, th¢ trust¢¢s have d¢t¢rrnitLed in their lasl review that six months of the &tmual recurring expenditure ar¢ required as Operational Reserves. Sil months of recutting ex￿ndItUr¢ amounts to £164.642. Operational Reserves at ihe year end were £218.507. In additional, Strategi¢ Res¢rve5 8r¢ r¢quired for planned cotnmitments that cannot be met by ￿tUre annual fill￿1ng along. At present the tn￿teeS bave established strategic tts¢rves which have been classified as an Unr¢strict¢d Desigtiated Re8erY¢ of £125.000. put in place May 2022 to reflect both increasing Costs associated with building works and also anticipated expenditure over the next ftw years. This reserve was put in place to provide reassuranc¢ tbat at all times the buildings were in a good state of repair and that should unexpectsd capital works b¢ required then the fi￿dS were in place to enable this to bapp¢Tr The property Conllnittee und¢rtake 8 review of the mndition of the properties aTllLually atLd have duc regard ¢0 are&s of deterioration or areas tbat need upgrade for current regulatory compliance. The ITUStees also consider that the future develOpn￿nt of the capital base of the Agency Should be provided for and tlLeir stratcgic plall is addressing vaTiOUS options for fiuther dev¢lopm¢oL Going Concern The tnLSt¢¢s assess wheth¢r tbe use of going concern is appropriate i.e. whether there are any mat¢rial uncertainties related to events or conditions that may cast significant doubt ¢)n th¢ ability of the charity to continue as a going concern. The tr￿tee8 make tbis &gscssmcnt in respect of a perkod of one year from the date of approval of the financial Statsn￿nts. With Brexit and the removal of fiinding under European Social Fund, th¢ ¢harity has had to slightly curtail, or chatlge. how it operdtes. The charity has been able to continue with delivery on rnost of its programmes attd adapted to hybrid activities. Antrim Enterprise has adapted qui¢kly to Uny fall in incotne, presented monthly casbfiow projectiolls, strived to build and find alternative sources of finance and have doThe all we eatL to be ready for any economic bounce back At tbe tini¢ of approving the a¢Gounts th¢ trustees have a reasonable expectation that the charity has adequate r¢sources to continu¢ in operational existellce for the foreseeable future. ThLL8, the trustees continue to adopt the going conceTn basis of accounting in prep3riog tbese finaocial stat¢ments. Pagell Antrim Enterprise Agency Limited Trustees, Report Trustees and offficers The trustees attd otticers Se￿Illg during the year and since the year end were aq follows.. Trusitts.. Prof J Wallace R W Cairns M S Cosgrove (Tesigned 22 August 2023) L McKnight Dr I Smyth W Waite (resigned I I September 2023) D Barry A Mcmurtrie J Atkinson S Moon (appointed 8 January 2024) M Patterson (appointed 13 November 2023) Chairnwi.. Prof J Wallace Secretary". J Mcwilliams Senior Management l Leadership Team: J M¢Williams. Chief Executive Officer Stru¢tur4 governance 2nd management Nalure ofgoverning documeiit The Agency's govemitsg document is the Memorandum and Articles of Association. In the event of the company being wound up trustees ar¢ required to contnl)ute £1. Recruitment and llppoiiithiénl ofirHstees Under thc requitc￿entS of the Mcmotandum and Articles of Association the Trustees of the Clwity are ekcted to scrvc tor a pcriod of onc ycar aftcr which thcy must be re