Company regixlration number: Nt026172
Charity TcgislTation numb¢r.' 101211
Antrim Enterprise Agency Limited
(A company limited by suarantee)
Annual Report aDd Financi81 Statements
for tb¢ Year Ended 31 March 2025
D. T. CARSON & Co
t$rf￿rANTs
5J- 53 THOMAS STREET
BALLYMENA
CO. ANTR
BT43 6AZ
Co, Antrtm
BT43 6AZ
TEL . 028 2565 2389
FAX . 028 2565 1295
Email . info@dtcarson.com
CHARTERED
ACCOUNTANTS
IRELAND

Antrim Enterprise Agency Limited
Contents
Reference and Administrative Detsils
I to2
Trustee8' Report
3to17
Independent Exarnine¢s Report
18to19
Ststemcnl of Financial Activiti¢s
20to21
Balance Sheet
22to23
Notes to the Financial Stslements
24to41

Antrim Enterprise Agency Limited
Reference and Administrative Details
Chairman
D Barry
Trustees
Dr I Smyth
D Barry
J Atkinson
S Moon
M Patt¢rson
Secretary
A Mcmurtrie
Senior MaDagement l Leadersbip J Mcwilliams, Chief Ex¢cutive Officer
Team
Charity Registratlon Number
101211
Company Registration Number
N1026172
The Charity is inco4)orated in Northern Ireland.
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Antrim Enteryrise Agency Limited
Reference and Administrative Details
Registered Office
58 Greystone Road
ANTRIM
BT41 IJZ
Independent Examiner
DT Carson & Co.
51- 53 Thomas Street
Ballymena
Co. Antrim
BT43 6AZ
Soll¢fitors:
Collins Solicitors its¢ Patri¢k Diamond & Co
29 New Sirttl
Randalstown
Antrim
BT413AF
Bankers
Danske Bank
Antrim
42 High Street
Antrim
Co Antrim
BT414AP
The Charity Bank
Fosse House
182 High Street
Tonbridge
TN9 IBE
Naiionwide Building Society
Nationwide House
Pipers Way
Swindon
SN38 INW
Progressive Building Society
79-81 Wellington Street
Ballyinena
BT43 6AD
AIB
78 Wellington Street
Ballymena
Co. Antrim
BT43 6AF
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Antrim Enterprise Agency Limited
Trustees, Report
The T￿sleeS ar¢ pleased to present their amiual directors. report together with the financial statements of the
charity for the year ending 31 March 2025 which are also prepared to meet the requirements for a dire¢tors'
report and accowits for Companies Act 2006 purposes.
The financial statements comply with the Charities Ael 2008. the Companies Act 2006, the Memorandum and
Articles of Associalion, and Accounting and Reporting by ChaTities: Sialemenl of Recommended Practice
applicablc in the UK and Republic of Ireland (FRS 102) {effe¢tiv¢ l Jan 2019)
Chair's Report
On behalf of the Board of Directors and Trustees of Antrim Ent¢￿rise Agency Limited, I am pleased to present
this annual rcvicw of the activities for the financial year ending 2025.
2024-2025 has been another transftirmalive year for the charily. reinforcing our commitment to supporting
individuals on their joumey into self<mployment and entreprcncurship. We have assisted emerging
entrepreneurs and established business owners in achieving sustainable growth through tailored advisory.
strategic guidance,structured enterymse support services. In addilion to these services, we manage a thriving
business park enconuyassing industrial units, the coworking hub The Hatchery Nl, and collaborative workspace
NEXTSpace. Our Service level agreement to manage Space Antrim. the new office solution in the heart of
Antrim town, proviiks an ecosystem conducive to irniovation and enterprise development.
Public funding TernaiTJS integral to our mission, enabling us lo contribute meanIn￿llY to the strategic
advancement of our se¢tor. We sincerely thank OUT funding partners, in¢ludin8 Antrim and NewtoThTrabbey
Borough Council, Department for Communities, the UK Government through the UK Shared Prosperity Fund,
and The Enkalon Foundatioo for their continued support.
Antrim Enterprise remains actively engaged in the broader enterprise community through our memberships in
Ent¢TPriS¢ Northern Ireland, Social Entery)rise Northern Ireland, the Federation of Small Businesses, and the
Northern Ireland Community Voluntary Association. Our affiliation with the Antrim Chamber of Commerce
further underscores our ¢ornmiment, with our Chief Executive serving on its Management Committee.
Additionally. the Chief Executive has played a significant role as director of Entetyrise Northern Ireland. Along
with her memberthip of tbe Chief Executives of the Third Sector, she also represents the agency on the Antiim
and Newtownabbey Labour Market Partnership and the Anlnm and N¢wtownabbey Local Economic
Partnership. These associations rcinforce our commitment to fostering collaboration and evnbedding Antsim
Enlerprise within the Ii)cal and regional business landscape.
Collaboration has remaincd a corncr5tone of ow strategic direction throughout the year. We acknowledge and
appreciate our partnerships with AICC, Hartree Hub, Randox Health. Ulster University. Mums at Work
NetworK Ethnic MilloTity Entrepreneur and Employinent NetworL and thc Fcdcration of Small Businesses.
TheiT invalu&ble support and cooperation have played an instrumental role in advancing our initiatives.
Like many social enterprises and charities. Antrim Enterwise faces challenges surrounding the continuity of
programme fimding and rccruitment concerns. However. we remain confident in OUT newly appointed Business
Advisory Team. who will be pivotal in empowering entrepreneurs within the borough and contributing to the
agen¢y's continued success.
Th¢ trustees Temain sleadfasl in Iheir conmiitment to the charitys objectives. ensuring investment in
infrastructure improvements that enhance the sustainability and fun¢tionality of our enterprise park.
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Antrim Enterprise Agency Limited
Trustees, Report
In closing. I would like to ext¢nd my heartfeli gratitude to my fellow directors for their unwavering support,
professi(Trnalisry and dedication throughout the yeaT, and I would also like to expTess my deep appreciation to
Jennifer Mcwilliams, OUT Chief Executive, for the leadership and tireless efforts in developing an exciting new
direction for ihe ¢harity. Her work, supported relentlessly by a dedicated and passionate team. continues to drive
our mission forward.
We also wish to acknowledge and tha)￿ Profe550r Jonathan Wallace, Laura McKnighi, and Richard Cairns, who
retired from the Board
tIL¢ year, for their valuable contributions to the agen¢Vs success.
De¢lan Barry
Chair
17th November 2025
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Antrim Enteryrise Agency Limited
Trustees, Report
The tLWStees. who are directors for the puTro8es of company law, present the annual report together with the
fllwlcial statell￿nts of the cbarilable company for the year ended 31 March 2025.
Truste¢$
Prof. J Wallace, Chairperson (resigned Ilth November 2024)
Mr RW Cairns (resigned 31st March 2025)
Ms L M¢Knight (resigned 9th September 2024)
Mr D Barry
Ms J Atkin50n
Ms A M¢Murtrie
Dr I Smw)
Mr S Moon
Mr M Patterson
Objectives and activities
Vision, Mission and Vvdlue5
Vision
Established in 1991, the enterprise bas the followlng vision:
To be the destination of choice for enl¢rprise developmen& enabling budding enlrepreneurs to develop and
grow a successful business, Ihereby achieving their ¢ntrepréneuriol dreams.
Mission
We believe that every client who comes through our door is helped. cn¢ouraged, and supported on their
entrepreneurial journey. Our ainjs also seek to enhance the wider public benefit that flows from their successful
impl¢mentatton.
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Antrim Enterprise Agency Limited
Trustees, Report
Valu¢$
Fundamental to our success in achieving our vision and mission. is the fact that quality underpins everytbing we
do, and we do it with pride which encompasses our core values..
P8s$lon: Our staff are emotionally committed employees, passionate about their work and the organization they
work for
R￿pect. We are about treating all people [directors, staff, customers. clients. suppliers and stak¢holders] with
dignity and value the collective power of teamwork
Integrity: Antrim EnteTprise is about being honest and having strong moral PTinciples in all our day-to-day
dealings with customers. clients and suppliers
Dedlcation: Antrim Enterprise fosters strong teamwork and encourdges personal iniliative and grovAh ￿rythin
the workplace
Excellence: We Strive to excel in every aspect of our business and deal with every task with a deternlination to
succeed
Alm& Publlc Benefit & Objeetives
Aims
The enterprise has the following aims:
l. Promoting enterprise in Antrim and Newtownabbey Borough
2. Supporting the sustainability and growth of existing businesses
3. Strengthening local economies and promotlng community ¢oh¢sion
4. Increasing Antrim Enterprise's resources and capacity
Antrim Enterprise's main a¢tivAties and beneficiaries are detail￿ in this report. All our Charitable activities
focus on promotion of urban and ¢¢onomic regeneration in the Antrim and Newtownabbey borough. Every
activity is a$ses8ed in respect of its impact on beneficiaries and its contribulion to charitable activities so that
Trustees may deterniine the best allocation of reSou￿¢s.
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Antrim Enterprise Agency Limited
Trustees, Report
P¥bll¢ beA¢fit
The publi¢ benefiis that flow from the aforementioned aims are:
l. A reduclion in poverty, unemployment and hardship, leading to a belter quality of life for the beneficiaties
and consequenl improvements in health and well-being
2. Increascd levels of self emploirnent and better prospects of sustainable development
3. The creation of a more educated, skill¢d and qualified community
4. A safer, more slable and cohesive cornmutsity
5. Enhanced knowledge and und¢rstanding among adults and children of the iry)ortanc¢ of 011 aspects of
enterprise development
6. Increased efficiency and effectiven¢ss of community and voluntary organisations
Some private benefit is obiained by the owners of small businesses who rent units on favourable lenns, but this
is ancillary and necessary lo achieving our ¢haritable purpose. No P￿rnI arises from these purposes.
The trustees confim that they have complied with the requirements of section 4 of ih¢ Charili¢s Act 2008 to
have due regard to ihe publi¢ benefit guidance published by the Charity Commission for Northem Ireland.
Objeclives, stralegies and activities
Objects
The Ente￿rise Centre has b¢¢n actively working towards fijlfdling its charitable objectives. demonstrating
strong conunitment to its mission. These being:_
l) Promote urban and njral r¢generation for the public benefit in the Antrim area and its environs (the "ar¢a of
benefit"). being an area of $o¢ial and economic deprivation, by all or any of the following m¢ans-
. The relief of unernployinent in such way5 as may be thoughi fil, including assistance to find employmenL
b. The advancement of education, training. or retraining. particularly among unemployed people, and providing
unemployed people with work experience
The provision of financial assistance, tecl)nical assistance or business advice or consultancy to provide
training and employment opportutiities for unemployed people in cases of financial or other charitable need
through help i) in setting up their own business, or li) to existing business
d. The promotion and support of social enteTpri8e and sustainable means of achieving economic growth and
regeneration
Th¢ Creation of training and employment opportunities by the provision of workspace. buildings andlor land
for us¢ on favourable tern
2) Advance education for the publi¢ benefit by raising awareness and increasing knowledge of the importance of
economic enterprise. entrepreneurship and enterprise suslainability, in particular among members of local
Community groups and yout)g people
3) Advance community developmenl in the area of benefil and particular the promotion of the community and
voluntary sector for the benefit of the public by providing facilities, support and infornlation to and promoting
good pra¢ti¢e among, community and voluntary groups.
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Antrim Enterprise Agency Limited
Trustees, Report
ObJe¢tlves
Specific objectives for the year 2024-2025 were:
To develop and launch two new training or services within the first 18 months
. Estsblish al least three new strategic partnerships
To maintain our existing workspace & coworking facility and develop alternative offerings for growing
businesses
Achievements and perforn￿nCe
Str*legie Themes, Actlvlties & Achievements
S￿￿e81( Themes
Antrim Enterprise ¢onlinues to review its key strategic priorities through which its ViSiOD. mission and core
objectives are achieved. During the period 2024-2025. the Priorities were-
strate￿ l.. Property Monagemenl and Developmenl
Sirateu 2.. Commmntty Outredch andEnterprise Educalion & Prnmotion
strate￿ 3.. Programme Delivery andDevelopm¢nt
strale￿ 4.. Fin47nci41 Sustainability
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Trustees, Report
Activities & Atblevements
Specific activities and achievements during the year contributing towards achieving our objectives were.. -
strate￿ J.. Property Management andDevelopment
Workspdce
In total the enteTPriS¢ centre offers 44,143 sq.ft. of industrial, retsil and office space.
Operating at 94 /0 capacity at year end, 28 busiJ)esses are located onsite as tenants located in 35 units ranging
from 500-3,OOOsq ft.
Two tenants occupy the four offices in NEXTSpace" Collabordtive office suite and thrcc licensccs arc located in
Thc Hatchery Nl in individual offices (lo￿/0) wilh a further two in our dedicated office.
Thc tnanagement of Space Antrim, a new 16,OOOsq ft collaborative office offering in Antrim town centre.
commenced during the year with 48 /D occupied by year end March.
There are 150 virtual clients using The Hatchery Nl as a mailing address with two of these also rccciving phonc
answering services.
Room Hire
Antrim Enterprise provides adaptable training and meeting spaces for workshops, Iraining, interviews,
ounsclling use. During the Course of the year the enterprise centre accommodated 40 different organisations
and 229 indiNrydual bookings, operating at 75 /0 capacity. 14 additional sessions were hosted for eight different
organis&tions.
Str￿e&V 2.. Community Outreuch Enterpr&¥¢ Eductslion & Promolion
Outreach
During the Course of the year. Antrim Enterprise participated in Antrim Labour Markei Partnership job fair.
delivered outreach sessions throughout the Antrim side of the borough, as well as monthly clini¢s within the
local Jobs and Benefits Office.
Enlerpnse Education
Stsff volunteered through Young Enterprise in primary and post-prinw schools in Antrim during the Course of
the year.
Antrim EntCTPriSC hostcd Ulster University Enterprise Placement Year students for Costing, Pricing & Budget
Control workshops.
strate￿ 3.. Progromme Delivery ondDevelopmenl
Pre-siartsupport
The Northern Ire194nd (Nl) Explore Enterprise Support Seryice (Programme Manager: Enterprise Nl-
Fvnd¢r: UK Government through the UK Shared Prosperity Fund)
The North¢rn ITeland (NI) Explore Enterprise Support Service is an initiative delivered by Antrim Enterprise
through Enterprise Northern Ireland in partnership with The Princes Tn￿t Nl. which provides selfwemployment
or emploiryneni support to economically inactive individuals acTOSS Antrim. Toomebridge. Randalstovm and
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Antrim Enterprise Agency Limited
Trustees, Report
This is a free service that provides an insight into starting a business or allows economically inactive residents to
take the first steps to gaining self-¢mploymellt,
During the course of delivery of this two-year programme, our experien¢ed Business Mentors supported 36
participants through a range of aclivities including:
- 690.50 hours of One-lo-one lailored mentoring and guidance
- Signposting to workshops and Level 2 training
- Support from the wider ecosystem
Siart Up Support
Siort Me Up Show (Funder.. Areas di Risk via An¢rim Newtownabbey Borough Council and Dep4rtmenl
for Communilies)
The Start Me Up Show consisted of one Start Me Up full day Show to inspire, motivate and encourage
individuals into self emplosrynent, focusing on four inspirational speakers: Golden P￿pCOrn. Savvy & Shine.
Civic Dollars, and Razie Art.
With almost 90 in attendance, there was also the opportunity to meet and ¢hat to those who have started up th¢ir
own business. including Anlrim Playball, Hoddrnimir's Wood Crafi, Ulird Cleaning Solutions, Feel Good
Hypnosis. and Seven Mile Studio.
An Ask the Expert Seclion had representation from Banking, Marketing, Accounting. L¢gal and Health &
Safety.
Business Clinics held throughout the day included Pricing Strategies, User Generated Content, Access to
Finance, and Marketing EsseDtials.
As part of the output. an action plan booklet was distributed to in¢lude Top Tips: For a Healthy Entrepreneur.
For a Successful Start-up and lo Manage Your Personal Finance. Also in the action plan wtre eight
entrepreneurial case studies to Cover diversity in gender, economi¢ strt￿. disability, business legal status, and
etlmicity.
Participants increased their knowledge of self-employment and had the opportunity lo ask specific questions to
the speakers.
Participants w¢re $I￿P0sted to other sources of support including Go Succeed and Explore Enterprise.
The majority of Clients reported they strongly a￿ed that they felt more confident about considering
self-emplowthent after attending the event.
36 ¢li¢nts r¢c¢ived additional l-l support to help them on iheir entrepr¢neurial journey before or after the Start
Me Up Show.
Build My Start Up (Funder.. Antrim Enlerprise & Enkalon Foundation)
Under the Build My Start Up suite of support, six clinics gre delivered to 30 attendees covering business &
legals, personal finance. business finance, and health & well-being.
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Antrim Enterprise Agency Limited
Trustees, Report
Go Succeed (Mallagedby.. Emlerpnse Nl-Funded by.. UK Government through UXLevelling Up Fund)
Go Succeed is the go-to source for expert business advice led by Northern Ireland's eleven local councils.
Antrim Enterprise delivers the Engage and Foundation elemcnls witbin Antrim, Cnunlin, Toomebridge and
Randalslown. The service provides between four and I I hours of tailoied 5UPPOrt and guidance lo help
individuals achieve their business goals.
The Business advisory team delivered 245 client diagnostics. 807 mentoring houTs, and signed off 190 clients.
Thcy supported clients with 125 Enterwise Aclion Plans and 23 Business Plans. with 42 clients receiving
mentoring-only support.
ExiJ¥ing Business Support
ASK (Funder.. Anlrim ond Newlownabbey Borough Councll)
This pro￿arnMe is designed to support businesses in Antiim and Newtownabbey Borough by providing free
ac¢es5 to expert advice, skills and kllowl￿ge from specialist mentors across a range of specialisms. Businesses
will benefit from up to ten hours of free mentorship. Four clients were assigned & mentoring carri¢d out during
2024-2025.
He4lih Entrepreneur Hub
Antrim EnteTPriS¢ collaborated with Randox healih io provide 89 health checks at a significantly reduced rate
for clients.
As part of our objectiv¢ to ensure the health and wellbeing of entrepreneurs and reduce isolatio# among lone
workers. throughout the year, through our Healthy Entrepreneur Hub, Antrim Entetprise hosted nine networking
events wilh 147 attendees. Four of these events included holistic therapy taster sessions around art 8nd laughter
therapy. Qigong and Journalling.
Nelworking events
In additio￿ the enterprise ¢entre engaged with a number of third parties to deliver five joint events with 205
att¢nde¢s including Artificial Intelligence. Economic Briefing and networking facilitation.
S¢￿e&V 4.. Financialsuslainqbility
Antiim EntCTPriSC continuc to cnsure that they are profit making, not profit taking to ¢nsurc thc long-tcrm
sustainability of the OTganisation. The enterprise centre earned income from propety rental. room hire and from
busIn￿S start-up and development programmes.
Antrim Ent¢rpri5e worked within 950/• of its annual budget and aclivcly miligated its operational risks.
SocialJmpact
The Chief Executive sits on the Antrim and Newtownabbey Labour Marke¢ Partnersl)ip.
Th¢ Chief Executive sits on the Antrim and Newtownabbey Local E¢onomi¢ Partnership.
The Chief Executive sits on Antrim Chamber of Commerc¢ Management Committee along with the Skills Sub
Committee.
Pagell

Antrim Enterprise Agency Limited
Trustees, Report
The Chief Executive sat on the board of Enterprise North¢m Ireland along with the Property Sub Con)mittee
until February 2025.
Three mernbers of thc business advisory team volunteered with Young Enterprise.
The Board me¢t bi-tnonthly with the Alldit and Financc Sub Committee undertakiDg tasks on a weekly basis.
Taking into consideration both staff and TTUSte¢s, in-ktnd contribution equates to £25.000.
Future Plans
A new strategy 2025-2028 dedicated to driving entrepreneurship. supporting local businesses. and leading
digital transfornHh"on acTOSS Antrim and Ne￿0￿n8bbey. We aim to create opportunities for businesses.
start-ups, and social enterprises by PToviding cutting edge support. high-quality workspaces. and a
state-of-the-art Digital Imiovation hub.
By ¢mbra¢ing technology and collaboration, we will ensure businesses across Antrim & Newtownabbey gain
the skills. expertise, and competitive advantage needed to thrive in the modern economy.
Financial revieiv
The total unrestricted incoming resources for the year amounted ÉO £347,284 {2024: £346,910} with expenditure
of £370,659 (2024.. £226,704) resulting in a net decrease of unrestricted funds of £23,375 (2024.. in¢rease of
£120.206}.
This leaves unrestricted fiu]ds, after transfers of £961,973 (2024.. £985,348) at the year end.
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Antrim Enterprise Agency Limited
Trustees, Report
Polley on reserves
The trustees consider the Reserve Policy an important part of the internal financial management of Antrirn
Enlery)rise Agency. It assists with strategic pla[￿l￿g when reviewing new or potential project51activities:
infornis the budget process and enables plaT]ning for a balanced budget UT usc of reserves. and it inforrns the
budget and risk managcment process by identifying any uncertainly in future income streams. Rcscrves are
reviewed in det<iil annually but also monitOTcd throughout the year to assess any build-up of Teserves or
unexpected depletion of these.
Operational ReseTves are required to allow the organisation to continue to deliver its charitable objectives and
seek alternative fijnding sources, should existing annual funding be restrtcted and to provide assurance against a
risk of an unforcscen emergency or other unexp¢cted need for fimds. In addition, Operational Rcserves provide
the organisation with the ability lo react to short terni opportunities. In quantifying the Icvcl of Operational
Reserves requir¢d, the level of nel current assets and liabililies are compared to the av¢rage monthly
expenditure. The risk associated with future incomes, grants and expcnditure aTe also considered. As a result,
the trustees hav¢ deterniined in their last review that six months of the annual recurring expenditure are required
as Operational Reserves. Based on the account for the year ended 31st MaTch 2025, 6 months of recurring
expenditure an￿￿n¢5 to £212,392. Operational Reserves ai the year end were £249,631.
In additional, Strategic Reserves are required for planned commitments that cannot be met by future annual
nding alone. At present the tnL8t¢¢s have eslablished strategic r¢s¢rv¢s which have be¢n classified as an
Unrestricted Designated Reserve of £125,000, put in place May 2022. Trustees undertook a review of the levels
of reserves held following their Sept 2025 board mecting and agreed to increase the designated reserves to
£150,000, to reflect both increasing costs associated with building works and also anticipated expenditure over
the next few years.
This reserve was put in place lo provide reassurance that at all times the buildings were in a good stste of repair
and that should unexpccted capitsl works be requtred theD the funds weTe in place to enable this to happcn. The
property committee undertake a review of the condition of the properties annually and have due regard to areas
of deteriorntion or areas that need upgrade for ¢ll￿1 regulatory compliance.
The t￿stCes also consider that the future development of thc capital base of the Agency should be provided for
and thcir strategic plan is addressing various options for fiwther development.
Coing Concern
The trustces assess whether thc of going concern is appropriate i.e. whetheT thcTC are any material
uncertainti¢s related to events OT conditions that may cast signtficant doubt on the ability of the charity to
continue as a going concern. The trustees make this assessment in re5pe¢t of a period of on¢ yeaT from the date
of approval of the financial statements.
The charity has continued with delivery on its programme5. striving to build and find allernalive sources of
rinance.
At the time of approving the accounts the trustces have & reasonable ¢xpectation that the charity has adequate
resources to continue in operational existence for the foreseeable fvtur¢. Thus, the trustees continue to adopt the
going concern basis of accounting in preparing these financial stat¢nLents.
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Antrin] Enterprise Agency Limited
Trustees, Report
Trustees and O￿lter$
The trnstees and officers serving during the year and since the year end were as follows:
Trust¢¢s-
Prof J Wallace (resigned I l November 2024)
R W Cairns (resigned 31 March 2025)
L McKnight (res1￿cd 9 September 2024)
Dr I Smyth
D Bany
J Atkinson
S Moon
M Patterson
Chairnhgn:
D BaThy
Secretary:
A Mcmurtrie (appointed 9 September 2024)
J Mcwilliams, Chief Executive Officer
Senior Management l LeadeTship
Team..
Structurei governance And management
Ndmre ofgoverning documenl
The Agency's governing document is the Memorandum and Articles of Association. IJ) the event of the
¢ompany being wound up tnLStees are required to contribute £1.
Recruilment and appolntment of truslees
Under the requir¢ments of the Memorandum and Arti¢le8 of Association, the trustees of the charity 8Te elected
to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.
The agency seeks to ensure that tn￿leeS with a range of experience from within the business profession serve on
the ¢ommitt¢¢. ln the event of particular skills and experience b¢iDg lost due to retirement, public advertising
atul a ￿11 recruitment process is utili5ed to recwit.
Jnduction and trainiog trustees
Most trustees are familiar with the role of the charity through their trusteeship of the enterprise agency. New
trustees attend an orientation rneeling to brief them on their legal obligations and responsibilities as trnstees of
Antrim Enterprise Agency. Trustees have committed lo undertaking Governance Training every year.
Arrangementsfor setting key man47gemenipersonnel remunenthon
Key Manag¢ment Personnel consist of the Chief Exe¢utive Who￿ remuneration is fixed by the Human R¢source
Sub Committee.
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Antrim Enterprise Agency Limited
Trustees, Report
Oryanualionfjl structure
The organisation is managed and directed by its Trustees. The Trustees are elected annually and meel at least
four times during the period September to Jwi¢.
Relatlonship$ with related parties
Trustees
None of the t￿SteeS have been paid any rem￿eratiOn or received any other benefit$ from an employment with
the charity or a relaled entity.
Included within note 9 is £70 paid to Black Sheep (Social Enterprise} Cic which is a company who Janet
Atkinson. T￿stee is a director along with her husband who undcrtook the mentOTing.
No t￿Slee expenscs havc been in¢uTTed.
Major risks And management ofihose risks
Risk Management
The Agency has a risk management strategy in place which comprises an annual review of the major risks to
which the charity is exposed. in particular those related to the operations and finances of the Company, and the
establishment of systems and PTocedure5 to mitigate those risks. The tnLStees are satisfjed that systems are in
place to mitigate exposure to the major risks. As custodians of Antrim EnteTprise's funds, trustees ensure that
under the Financial Services Compensation Scheme, Ihal reserves were SPTead across different banks/building
societies. A key element in the management of financial risk is the setting of a reseryes policy and its regular
review by tnjstees. The trustees Tecognise their duties under Th¢ Trustee Act (Northern Ireland) 2001 No 14:
which discusses the Duty of Care of Direclors and their responsibilities under inve5tnent,
Financlal Instruments
Objeclives andpolicies
The charity's activities expose it lo a numbcr of financial risks in¢ludinE credit risk, cashflow risk and liquidity
risk. Thc of financial derivatives is governed by the charity's policies approved by thc boaTd of trustees
which PTovide written principles on the use of fiTJancial dcTivatives to manage these risks. The charity does not
use derivative financial instruments for speculativc PUTposes.
Credit risk
The charity's principal financial assets are bank balances and Cash, trade and other receivables and investments.
The clwity's CTedit risk is primarily attributable to its trade receivable5. The amounts presented in the balaD¢¢
sheet are net of allowances for doubtfvl receivables. The Charity spreads its exposure to risk by having a mix of
income from propety and business support.
Liqvldity risk
In order lo maintain liquidity to ensure that suificient funds are available for ongoing operations and ￿tUre
developments, the charity has availed of a number of rnedium-terni loans in¢luding the Bounce Back Loan and
through Community Finance Ireland.
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Trustees, Report
Funds beld as eustodian tTU5tee on behalf of others
Included within current assets and creditors are arnounts totslling £19.836 related to tenant deposits held by the
charity. These amounts have been ring-fenced by the tn￿te¢S and may be repaid to the tenants upon satisfactory
completion of their rental contracts. As such the trustees have decided not to spend these funds and there is no
effect on the net assets figures.
Employment of disabled persons
At Antrim Enterprise Agency we are committed to providing equality and fairness for all in employm¢nl and
service delivery and not to discriminate on any grounds including gender, transgender. pregnancy, rnaritsl
status. race, ethnic origin, colour, nationality, disability. sexual orientation. religion, or age. We believe our
organisalion will be a bett¢r, more creative and innovative place to work as a result of managing our people in a
way that gets the best from thciT diversity. values their diffetenl perspectives and individuals, backgrounds" and
integrates fairness and equity into every aspect of our employment practices.
Creditor payment policy
The Creditor Payment Policy ha5 been incorporated into th¢ financial procedures. The t¢rn)s are as per the
invoice due date. Where no payrnent tems are noted, 30 days from invoice date are dcemed to be standard
paynent tem]s with undisputed ¢reditors. As a charity supporting start-ups and rni¢ro businesses an early
payment process is in place to ¢nsure that their cashflow are not adversely affected.
Statement of trustees, responsibilitie5
The (￿ste¢S (who are also the directOTS of Antrim Enterprise Ageney Ltmited for the purposes of company law)
are responsible for preparing the tru5t¢es' report and the financial statements in accordance with applicable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted A¢counting Practice),
including FRS 102 "The Financial Reporting Stsndard applicable in tbe UK and Republi¢ of Ireland..
Company law requires the t￿st¢eS to PTepare financial slatements for each financial year. Under company law
the tr￿tee$ must not approve ihe financial statements unless they are satisfied that Ihey give a t￿C and fair view
of the state of affairs of the charitable company and of the incoming resources and application of Icsources,
including its income and expenditurc. of the charitable company for that period. In preparing these financial
statell￿nts. the t￿￿teeS 8Te required to:
Select suitable accounting policies and apply them consistently
Obscrvc the methods and principlcs in the Charities SORP
Make judgements and estimatcs thai are reasonable and prudent
State whether applicable UK Accounling Stsndards have been lollowed, subject to any material departUTeS
disclosed and explained in the financial slatements and
Page 16

Antrim Enterprise Agency Limited
Trustees, Report
Prep#Te the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable ¢ompany will continue tn business
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuTaLy at
any time the financial position of the charitablc conwany and enable them to ensure that the finallcial statemcnts
comply with the Companies Act 2006. They are also responsible for saleguarding the assets of the charitable
company and hence for taking reasonable steps for the prevention and detection of fraud and other i￿gUIa[1tie5.
Reappoinlment of amdllor
As part of the strategy ￿vieW and overhaul of existing systems and pro¢¢dur¢s, it was agreed that it would be
prudent for Antrim Ente￿rise to introduce a rotation of audit firn]s every tbree years to ensure that a familarity
risk between the auditors and management does not develop and to ensure independence of the auditor. In
ddition, as paTt of best practice AThtrirn Enterprise should altemate Independent Examinations during thc three
year cycle with a full audit.
Small companies provision stAtement
This report has b¢en prepared in accordance with ihe small companies regim¢ under the Companies Act 2006.
The annual report was approv¢d b
siees of the charity on 17 November 2025 and Si￿ed on its behalf by:
D Batry
Chairn￿n and Trustee
Page 17

Anlrim Enterprise Agency Limited
Independent Examiner's Report to the trustees of Antrim Enterprise Agency Limited
('the Company,)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 Ma￿h
2025 which are set out on pages 2040.
Re$pon$iblllties and bas15 of report
As the charily's tnjstees of Antn'm Enterprise Agency Limited (and also its directors for the purposes of
company law) you are Te5ponsible for the preparation of the accounts in accordance with the requirernenls of the
Companies Act 2006 {'the 2006 Act,).
Having satisfied rnyself that the a¢¢ounts of Antsim Enterprise Ag¢n¢y Limited are not subject to audit under
company law, and is eligible for independent examinatio￿ it is my responsibility to:
examine the a¢¢ounts under section 65 of the Charities Act (North¢rn Ireland)
follow the procedures laid down in th¢ general Directions given by the Charity Commission for Northern
Ireland under section 56(9)(b) of the Charities Act. and
stale whether particular matters have come to my attention.
Basis of independent eiaminer'5 report
I have examined your ¢lwity accounts as required under section 65 of the ch￿ltieS Act and my examination
was carried out in accordance with the general Directions given by the Charitie8 Commission for Northern
Ireland under section 65(9)(b) of the Charities Act. The examination in¢luded a review of the accounting records
kept by Ihe charity and a comparison of the accounts presented with those records. It also includes consideration
of any w)usual itenLS or disclosures in the accounts, and seeking explanations frorn you as charity trustees
concerning any such matters.
My Tole is to state whether any n￿terial matters have come to my attention gI￿]g me cause to believe:
l. That accounting records were not kept in accordance with section 386 of the Companies Aci 2006
2. That the account8 do not accord with those accounting records
3. That the accounts do not comply with ihe accounling requirements of section 396 of the Companies Act 2006
and with the methods and principles of the Charities Statement of Recommended Practice applicable lo Charities
preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republi¢
of Ireland
4. That there is thrther information needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
Since the Company's gross income exoeeded £250.000 your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confinn thal l am qualified to undertake the examination because l am a member
of th¢ Institute of Chartered Accountants in Ireland., which is one of the listed bodies.
I have completed my examination and have no concerns in respect of matteTS (l) to (4) listed above and, in
CODnection with following the Directions of the Charity Commission for Northern Ireland. I have found no
matters ihai require drawing your attention.
Page 18

Antrim Enterprise Agency Limited
Independent Examiner's Report to the trustees of Antrim Enterprise Agency Limited
('the Company,)
Mr James Wallace
Insti￿te of Chartered Accountants in Ireland
DT Carson & Co
51- 53 Thomas Street
Ballymena
Co. Antrim
BT43 6AZ
17 Novemb￿ 2025
Page 19

Antrim Enterprise Agency Limited
Statement of Financial Activitles for the Year Ended 31 March 2025
(Including Income and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Unre51rieted
funds
Restricted
funds
Total
2025
Note
In¢ome and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investmenl income
Other income
70
308,712
11.332
13,348
13.822
70
400,685
11,332
13.348
13,822
91,973
Total income
347.284
91,973
439.257
Expenditure on:
Raising funds
Charitable aclivities
(13,926)
(356,733)
(13,926)
(363.196)
{6,463)
Tolal expenditure
(370,659)
(6,463)
(377,122)
Net (expenditure)/income
Transfers between fund5
(23.375)
74,108
85,510
(74,108)
62.135
Net movement in fvnds
50,733
11,402
62,135
Reconciliation offunds
Total funds broughi forward
985,348
8,050
993,398
Total funds carried fonvard
22
1,036.081
19,452
,055,533
The nofrs on pages 24 to 41 foTm an integrnl part of th¢s¢ fmancial statements.
Pagc 20

Antrim Enterprise Agency Limited
Statement of Financial Activities for the Year Ended 31 March 2025
(Including Ineome and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Unrcstri¢ted
funds
Restri¢ted
funds
Total
2024
Note
Income and Endowments from:
Donations and l¢ga¢ies
Charitable activities
Other trading activities
Investment income
Other incon
966
244,991
14,788
10,187
75,978
1.800
36,103
2.766
281,094
14,788
10,187
75.991
13
Total in¢ome
346.910
37,916
384.826
Expenditure on:
Raising funds
Charitable activities
(17,260)
(209,444)
{17,260)
(229.996)
(20.552)
Total expenditure
(226,704)
(20.552)
(247.256)
Net incorne
Transfers between funds
120.206
20.095
17.364
(20,095)
137.570
Net movenM]t in funds
140,30J
(2,731)
137,570
Recontiliation of fund8
Total fund5 brought fonvard
845,047
10,781
855,828
Total fund5 Ca￿led forward
22
985,348
8,050
993,398
All of the charity's activities derive from continuing opera¢ioJJs during the above Iwo periods.
The fvnds breakdown for 2024 is shown in nole 22.
The notes on pages 24 to 41 forni an integral part of these financial statements.
Page 21

Antrim Enterprise Agency Limited
(Registration number: N1026172)
Balance Sheet as at 31 March 2025
2025
2024
Note
Fixed assets
Tangible assets
16
662,198
643,712
Current assets
Debtors
Cash at bank and in hand
17
18
40,442
484,624
26,951
478,136
525,066
505,087
Credltors: Amounts falling due wlthfin one year
19
69,681
78.745
Net current assets
455,385
426.342
TotAR assets less current liabilities
1,117,583
1.070.054
Credltors: Amounts falling due After more than one year
20
(62,050)
76.656)
Net asset5
1,055,533
993,398
Funds of the charity:
Restricted income fund8
R¢stri¢ted funds
22
19,452
8.050
Unrestrieted fin¢om¢ funds
Unrestri¢ted funds
1,036,081
985,348
Total funds
22
1,055,533
993,398
Fot ihe finan¢i81 year ending 31 March 2025 the charity was entitled to exemption from audit under section 477
of the Companies Act 2006 relating to small companies.
Directors, responsibilitie5-
The members have not required the charity to obtain an audit of its accounts for the year in question in
accordance with section 476; and
The directors acknowledge their responsibilities for Complying with the requirements of the A¢t with respect
to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies
subjecl to ihe small companies regime within Part 15 of the Companies Act 2006.
The notes on pages 24 to 4] fom an integrdl part of these fmancial stal¢ments.
Page 22

Antrim Enterprise Agency Limxted
(Registration number: N1026172)
Balance Sheet as at 31 March 2025
The financial statements on pages 20 10 41 were approved by the tn￿tee&, and authorised for issue on 17
November 2025 attd signed on their
half by-
chairn￿n and TTU$tee
The notes on pages 24 to 41 forni an integral part of these financial statements.
Page 23

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
I Charlty Status
The charity is a private company litnitcd by guardntee, incorporated in Northern Ireland. and consequently does
not have share capital. Each of tbe trnstees is liable to contribute an amount not exceeding £1 towards the assets
of the charity in the event of liquidation.
The address of its Tegistered officc is 58 Greyslone Road, AKfRTM. BT41 IJZ
These financial statcmcnts wcre authorised for issue by the trustees on 17 Novembcr 2025.
2 Aecounting poli¢ie$
SunllnAry of significant a¢¢ounting polltles and key accounling estimates
The principal accounting policies applied in th¢ Preparation of these financial statements are sel out below.
These policies have been eonsisttntly applied to all the years presented. unless otherwise stated.
Statement of ¢ompliAnee
The financial statements have been prepared in accordance with Accounting and Reporting by Charities:
Ststement of Recommended Practice applicable to charitie5 preparing their ac¢ounts in aecordance with the
Financial Reporting Standard applicable in the UK and Republic of Ereland IFRS 102) (effeclive l January
2019) (Charities SORP (FRS 102)). the Financial Reporting Standard appli¢able in the UK and Republic of
Ireland (FRS 102), the Ch8riti¢s A¢1 (Northern Ireland) 2008 and the Cornpanies Act 2006.
The charity is a Public Benefit Entity as defined by FRS 102.
Basis of preparation
A5scts and liabilities are initially recognis¢d at historical cost or transaction value unless othcnvisc staled tn the
relevant accounting policy notes.
The presentational currency of these financial Staten￿nts is sterling and amounts have b¢en rounded to the
n¢arest £1.
GoADg concern
The finan¢ial statements have been prepared on a going con¢ern basis as the tn￿teeS consideT thdt there are no
material uncertainties about the charitys ability to continue as a going concern nor any significant areas of
uncertainty that affect the canying value of assets held by the charity. The t￿sleeS have Considered both the
I￿¢1 of funds held and the expected level of income and expenditure for 12 months frorn authorising these
financial statements, taking into consideration all r¢levanl factors.
Page 24

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Judgements
The preparation of the financial statemenls requires the Trustees to make judgements, estimates and assumptions
that affect the application of accounting policies and the reported amount of assets and liabilities, incornc and
expenses. The estill￿t¢S and asso¢iated assumptions arc based on historical experience and other factors that are
Considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions aic reviewed on an ongoing basis. Revisions to accounting estimales
are recognised in Ihc period in which the estimate is revised where thc rcvision affects only that periiKI. or in the
period of thc revision and future periods wheTC the revision affects both Current and future periods.
Key sources of estimation uneertainty
Tangible Fixed assets
Tangible fixed assets are depr¢cial¢d over their usefvl economic lives taking into account residual values, where
appropriate. The actl￿1 lives of the assets and residual value5 are assessed annually and may vary depending on
a number of factors. In re-assessing asset lives, factors such as maintenance progranun¢s and technological
innovation are taken into a¢count. Residual value assessments consider issues such as fjjture mark¢1 conditions,
the remaining life of the asset and Projected disposal values. The carrying amount is £662,198 {2024
-£643,712).
Income and endowments
All income is recognised once there is a legal or constructive obligation to that income after any peTforn]ace
conditions have been met, the amount can be measured reliably and it is probable that income will be received.
All income is allo¢aled to the applicable income heading that aggregate similar income to that category.
Donations and legdcies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date.
In the event that a donation is subject to conditions tbat require a level of perfornwice by the charity before the
charity is entitled to the funds, the income AS deferred and not recogniscd until either those conditions are fully
mel, or the fi￿rilment of those conditions is wholly within the control of the charity and it is probable that these
conditions will be fi]lfilled in the reporting petiod.
Grnnts receivable
Grants are recognised when the charity has an entitlement to the fimds and any conditions linked to the grants
have been met. Whcrc perforniance conditions are atta¢hed to the grant and aTe yet to be met, the incomc is
re¢oEnised a5 a liability and included on ihe balance shcct as deferred income to be released.
Other trading aclivilies
The charity generates Tental income by utilising the business workspace to further its primary aims and
objectives.
Inveslmen¢ Income
Interest on funds held on deposit is in¢luded when receivable and th¢ amount can be reliably measured by the
Charity. this is norn￿llY upon notification of the interest paid or payable by the bank.
Page 25

Antrim Enterprise Agency Limited
Notes to the Financlal Statements for the Year Ended 31 March 2025
Chan"Idble activitie5
The charity undertakes activities to fi￿her their aims and objects in a number of areas including..
Workspace & Busincss Space
Support Prograrnnies
Start-up Programmes
Pre-start Programmcs
Enterprise Programmes
Exptnditure
All expendilure is recognised once there is a legal or constructive obligation to that expenditure, it IS Probable
settlement is required and the amount can be measured reliably. All costs are allocatcd to the applicable
expenditure beading that aggregate similar cos15 lo Ibal category. Where costs cannot be directly attributed to
particular headings they have been allocated on a basis consistent with the usc of r¢&ources, with centrdl staff
costs allocated on the basis of timc spcnt, and depreciation charges allocated on the portion of the asset's use.
Other support costs are allocated based on the spread of staff costs .
Rosingfunds
These are costs in attracting voluntary income. the n￿gernent of inVeStn￿nts and those inCu￿ed in trading
activities that raise funds.
Chariloble 47etivIriÉs
Charitsble expendityre Comprises those costs incurred by the Charity in the delivery of its activities and services
for ils beneficiaTies. It in¢ludes both costs ihat can be allocated directly to such activities and those costs of an
indirect nature necessary to support thenL
Support Costs
Support costs include Central fjjnctions and have been allocated to activity cost categories on a basis consistent
with the use of resources, for example, allocating property costs by floor arcas, or per capita, staff cosls by time
spent and other costs by thciT usage.
Govern¥n¢e costs
Thesc includc the costs attributable to the charity's covnpliance with constitutional and statutory requirements,
including audit, sttalegic management and trustee5'8 meetings and reimbursed expenses.
Taxation
The CE￿Ity is considered lo pass the tests set out in Para￿aph I Schedule 6 of the Finance Act 2010 and
therefore it mcets the defjnilion ol. a charitable company for UK corporation tax purposes. Accordingly, the
harity is potentially exempt from taxation in rcspect of income or capital gains receivcd within categories
ovcred by Chapter 3 Part I l of the Corporation Tax Act 2010 or Seclion 256 of the Taxation of Chargeable
Gains Aci 1992, to the extenl that sv¢h income or gains are applied exclusively lo charitable purposes.
Tangible fixed as5els
Tangible fixed assets (individually costing £100 or more} are initially mea5UTed at cost and subsequently
measured at ¢ost, net of depreciation and any impaiTment losses. The company assesses at each reporting date
whether tangible fixed assets are irnpaired.
Page 26

Antrirn Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Depre¢iatlon amort1s4tion
Depreciation is provided on tangible fjxed assets so as to write off the cost or valuation, less any estimated
residual value, over their expected usefiil economic life as follows-
Asset Class
Land & Buildings
FUrnitl￿e & Equipment
Depreciation method and rate
2_10 /0 straight line
33.3 /0 straight line
Trade debtors
Trade debtors are amounts due from customers for seTvices perfomied in the ordinary course of business.
Trade debtors are recogniscd initially al the trallsaction price. They ar¢ subsequently measured at arnortised cost
Using the ¢tTcctivc interest mcthod, Icss Provision for irnpairnlenl. A provi.4ton for the impaimient of trade
debtors is cstablished when there is objeclive ¢viden¢e that the charity will not be able to collect all amounts due
ac¢ording to the original temis of th¢ receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-terni bighly 17quid
investments that are readily convertible to a known amount of cash and are subject to an in5ignifi¢ant risk of
¢hange in value.
Trade eredfitor$
Trade Creditor5 are obligations to pay for goods OT services that have been a¢quired in the ordinary course of
business from Suppliers. Accounts payable are classified as current liabilities if the charity does not have an
unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve
months after th¢ reporting dale. ff there is an uncondilional right lo defer settlement for at leasi twelve months
after the reporting date, they are presenied as non-¢urrent liabililies.
Trade creditors are reco8￿]Sed initially al the transaction price and subsequently measured at amortised cost
using the effective interest method.
BorroTrYings
Interest-bearing borrowings are inilially recorded al fair valuc, net ol transaction costs. Intere5t-bcaTing
borrowings are subsequently carried al amortised cost, with the diffcrence betwcen the proceeds, net of
Irdnsa¢tion costs, and the amount due on redemption being recognised as a charge to the StateJnent of Financial
Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payabl¢
and similar charges.
BoTrowings are classified a5 current liabilities unless the charity has an unconditional right to defer seiilcment of
the liability for at least twelvc months aftcr thc reporling date.
Fund structure
Unrestricted income fimds are general fijnds that are available for use at the tll￿tees discretion in fiJrtb¢rance of
the objectives of the charity.
Designated funds are unrestricted fi]nds set aside for specific purposes at the discretion of the trustees.
Page 27

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Restricted income funds are those donated for use in a particular area or for specific pury)oses, the use of which
is reslri¢t¢d to that area or pury)ose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which r￿ed
contributions are paid into a pension fund and the charity has no legal or Const￿CtIVe obligation to pay fiffther
contributions even if ihe fund does not liold sufficient assets lo pay all employees the benefits relating to
employee service in the current and prior periods.
Contribulions to defined contribution plans are recognised in the Statement of Financial Activities when they are
due. If contribution pawients exceed Ihe ¢ontribulion due for service, the excess is r¢co8nised as a prepayment.
Financial instruments
Classifiealion
Financial assels and financial liabilities are recogtiised when the charity beconKs a paty to the contractual
provisions of the InSt￿Ment.
Financial liabllities and equity in5tnunents ar¢ classified according lo the subsian¢e of the contractual
arrangements entered into. An equity instnunent is any contract thai evidences a residual interest in the assets of
the charity after deducting all of ils liabilities.
Reeognitson and meosurement
Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are initially measured al transaclion pri¢¢
including Irdnsaction costs and are subsequently carried at amortised cost using the effective interest method
unless the arningernent ¢onstithtes a financing transaction, wher¢ th¢ transaction is measured at the present
value of the future receipts discounted at a market rate of interest. Finan¢ial assets classified as receivable within
one year are not amortlsed.
Basic financial liabilities
Basic financial liabilities, which include credilors and loans, are initially measured at transaction price unless the
a￿angernent ¢onstitu¢es a financing transaction, where the debt instrument is measured al ihe present value of
the future payrnents discounted at a mk)rkef rale of inleresL Financial liabilities classified as payable wilhin onc
year are not amortised. Financial liabilities are dere¢0￿1]Sed when the Ckwity's contractual obligations expir¢ or
are discharged or cancelled.
Impairnienl
For financial assets carried at arnortised cost, the an]ount of impainnent is the difference between the asset's
caTrying amount and the present value of estimated cashflows, discounted at the financial asset's original
effective in*resl rate. For finan¢Aal assets carried at cost less irnpairment. th¢ impaimient loss is the difference
betsveen the asset's carying amount and the estimate of ihe amount that would be received for the asset if it
were to be sold at the reporting date.
Where indicators exist for a decrease in impairnient loss, and the decrease ¢an be rel&ted objectively to an event
o¢¢urrin8 after the impaimient was reCo￿lised, the PriOT injpainnent loss is tested to d¢tennin¢ r¢v¢rsal. An
impaimient loss is reversed on all individual impaired financial asset to the extent thal Ihe revised re¢overAble
value does not lead to a revised carrying amount higher than the carrying value had no impairn)ent been
recognised.
Page 28

Antrim Enteryrise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
3 Income from don*tions and legacies
UnTe5tricted
fuDds
General
Total
2025
Donations and legacies"
Donations from individuals
70
70
70
70
Unrestricted
funds
General
Restricted
funds
Tot*1
2024
Donations and l¢gacies'
Donations from individuals
966
1.800
2.766
966
1,800
2,766
4 Income from charitable activities
Unrestricted
funds
General
Re5trieted
funds
Total
2025
Workspace & Business Space
Existing Business
Start-up Programmes
Pre.Start Programn
295,858
12.854
238
296.096
12,854
2,582
89,153
2,582
89,153
308,712
91,973
400,685
UDr¢$tricted
fund$
Cencral
Reslrieted
funds
Total
2024
Workspace & Business Space
Exisling Business
Start-up Programmes
Pre-start Programmes
244.628
363
244,628
363
1.248
34,855
1.248
34.855
244,991
36,103
281,094
Page 29

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
S Incon)e from other tradlng activities
Unrestricted
funds
General
Total
2024
Total
2024
Other income from other trading activities
11,332
11,332
14.788
11,332
11,332
14,788
6 Investment income
Unrestricted
funds
General
Total
2025
Tolal
2024
Tnterest receivable and similar income.
Intercst re¢eivable on bank deposits
13,348
13,348
10.187
7 Other in¢om¢
Unrestricted
funds
General
Total
2025
Total
2024
Other income including government grants
13,822
13,822
75,991
Page 30

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
8 Expenditure on raising funds
8) Costs of trAding activities
Alloeated
support ¢osts
Total
2025
Direct Costs
Staff costs
Costs of trading aclivilies
180
11,792
2,314
Alloeated
support costs
13,926
Total
2024
Direct costs
St4ff ¢osts
Costs of trading activities
(79)
12,466
4,873
17,260
9 Expenditure on charitable activities
Activity
undertaken
directly
St*ff Costs of
activity
Activlty
support Costs
2025
Workspace & Business Space
Existing Business
Start-up Programmes
Pre-start Programmes
Enterprise Education
Govemance
79,942
5,678
2,171
3,393
(17)
5,705
87,164
7,338
53,335
22.483
797
51,530
17,101
1,438
10.463
4.408
156
io,iii
184,207
14,454
65,969
30,284
936
67,346
96,872
Activity
llndertakeD
directly
222,647
43,677
363,196
Staff eosts of
activity
Actlvity
Support ¢osts
2024
Workspace & Business Space
Existing Business
Start-up Programmes
Pre-start Pr0￿mmeS
Enterprise Education
Governance
62.493
923
16,946
3,656
(70)
6.903
28,409
9.530
23,504
6,987
4,557
27,060
11,103
3,723
9.521
2,397
1,781
10,573
102.005
14,176
49.971
13,040
6.268
44.536
90,851
l(10,047
39,098
229.996
£356,733 (2024 - £209.444) of the above ¢xpenditUTe was attributable to unrestricted funds and £6.463 (2024 -
£20,552) to r¢stri¢ted funds.
Page 31

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
In addition to the expenditure analysed above, there are also govemance costs of £67,346 {2024 £44,536)
which r¢late directly to charitable activities. See note 10 for fLWther details.
10 Analysis of governanee and support cost5
Governlnee Costs
Unrestrieted
funds
General
Total
21125
Staff costs
Wages and salaries
Social sccurity coyls
Pcnsion costs
Other staff costs
Indcpelldent examiner fees
Examination of the financial statemenls
Other fees paid to examiners
Other governance cost5
Allocated 8UPPOrt costs
43.360
2.764
2.933
1.683
43.360
2.764
2,933
1,683
2,907
650
I,oio
12,039
2.907
650
I,oio
12,039
67,346
67.346
Unre5tritted
funds
General
Total
2024
Staff costs
Wages and salarie¥
Social security costs
Pension cosls
Other staff ¢osls
Audit fees
Audit of the financÉal statements
Other fees paid to auditors
Other governance costs
Allocated support costs
23,391
900
1,459
1.296
23,391
900
1,459
1296
4.775
500
1.346
10,869
4,775
500
1,346
10.869
44,536
44.536
Page 32

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
I l Trustees remuneration #nd expenses
During the year the charity made the followlng transactions with trustees:
No trustees, nor any persons connected with the￿ have received any remuneration from the chaTity during the
year.
Included within nole 9 is £70 paid lo Black Sheep (Social Enterprise) Cic which is a cornpany who Janet
Atkinson, Irustee is a director along with her husband who undertook the mentorlng.
No trustees have Te¢¢ived any ￿1MbUrSed expenses or any other benefits from the charity durlng the year, other
than this.
12 Staff costs
The aggregate payroll costs were as follows,.
2025
2024
Staff costs during the year were:
Wages and Sa1￿1eS
Social security costs
P¢nsion costs
Other staff costs
197230
12,573
13,341
11,296
97,277
3,744
6.067
4.925
234,440
112,013
The monthly avwage nurnber of persons {including senÉor management I leadership team) employed by the
charity during the year expressed as fijll time equivalents was as follows:
202S
21124
Charitsble activities
Governance
No ¢mploye¢ received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £50,625 (2024 - £44250}.
Page 33

Antrim Enterprise Agency Lin]ited
Dlotes to the Financial Statements for the Year Ended 31 March 2025
13 IDdependeDt ¢xamlner's remuneration
2025
Examination of the financial statements
2,907
Other fees to a4mlners
All other service5
650
Page 34

Antrim Enteryrise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
14 Auditor5, remunervdtioD
2024
Audit of the financial statements
4,775
Other fees to auditors
All other non-audit services
500
15 Taxadon
The charity is a registered charity and is ih¢refor¢ exempt from tsxation.
16 Tangible fixed Issels
Land and
bulldlngs
Furniture and
equipment
Total
Cost
At l April 2024
Additions
2.175,280
31,390
149,650
7,827
2.324,930
39.217
At 31 March 2025
2.206.670
157,477
2.364,147
Depreciation
At l April 2024
Charge for the year
1,550,050
13,292
131,168
7,439
1,681.218
20,731
At 31 March 2025
1.563,342
138,607
1,701,949
Net book value
At 31 March 2025
643,328
18,870
662.198
At 31 March 2024
625,230
18,482
643,712
17 Debtors
2025
2024
Trade debtors
Prepayments
Accrued income
Other debtors
14,849
3,775
21,818
11,592
4,561
10,530
268
40,442
26,951
P&ge 35

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
18 Cash And eash equivalent5
2025
2024
Cash Dn hand
Cash at bank
16
484,608
13
478,123
484,624
478,136
Balanees held by the charity that are not available for use by the charlty
2025
2024
Balances held by the charity that are not available for use by the charlty
19,836
21.036
Included withill Cash are atnounts relating to tenant deposits held by the charity, Tbese amounts have been
ring-fenced by the trustees and may be repaid to the tenants upon satisfaetory completson of tbeir rental
contracts. As such th¢ tr￿steeS have decided not to spend these funds and included a corresponding creditor in
Ihe financial stat¢ment$ and as such there is no effect on the nel assets figur¢.
19 Credltor$: amounts falling due within one year
2025
2024
Bank loans
Trade creditors
Other loans
VAT repayable
Other creditors
Accruals
10,363
12.215
4,877
10.732
20,088
11,406
10.141
15.475
4,590
6,082
21,807
20,650
69.681
78,745
Page 36

Antrim Enterprise Agency Limited
Notes to the Financial Staten)ents for the Year Ended 31 March 2025
B2Dk borroTYings
Bank loan is denominated in sterling with a nominal interest rate of 2.5Q/o (2021- 2.50/0), and the fu)al inslalmenl
is due on l July 2026. The carrying amount al year end is £13,112 (2024 - £24.199).
Other borrowings
UCIT with a carrying amount of £64.177 (2024 - £67,188) is denominated in sterling with a nominal interest
ratc of 80/0 (2024 _ 80/0). The final instalment is due on 12 Seplember 2034.
20 Cr¢ditors: Amounts falling due after one year
2025
2024
Bank loans
Othcr loans
2,749
59,301
14,058
62,598
62,050
76,656
Included in the Creditors are the following amounts due after more than five years..
2025
2024
Afler more than five years by instalments
36,555
41.150
21 Pension and other schemes
DefiDed conlribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year r¢presents
contributions payable by the charlty to the scherne and arnounted to £13,341 (2024 - £6,067).
Page 37

Antrim Enterprise Agency Limited
Notes to the FiThaneial Statements for the Year Ended 31 March 2025
22 Funds
Balance at
31 M*reh
2025
Balan¢e at I
Aprll 2024
In¢omiDg
resources
Resourtes
expended
Transfers
Unrestricted funds
General
Operational reserves
Ass¢ts in R¢s¢rves
218,507
641,841
308,067
39217
(351.051)
(19,608)
(370,659)
74.108
249,631
661.450
860,348
347.284
74,108
911,081
Designated
Designated Reserve
125,000
125,000
Total unrestricted fuDd$
985,348
347.284
(370,659)
74,108
.036,081
Restricted fund5
Siart mc up show
Build My Start Up Clinics
Halifax cquiprnent grant
8,460
2.582
(3.577)
(4,883)
(5,132)
2,550
2.385
24
(1.123)
1,262
SULF
Go Suceed
ENI-Exploring S &
Entrepreneurship skills
40
(64)
(38,461)
3,091
55.323
(1.763)
18,190
25,568
(25,568)
Total restrltted funds
8,050
91,973
{6,463)
(74,108)
19,452
Totsl funds
993,398
439,257
(377,122)
1,055,533
Page 38

Antrim Enterprise Agency Limited
Notes to the Ffinaneial Statements for the Year Ended 31 March 2025
Balance at
31 Mareh
2024
Balante at I
April 2023
Incoming
resources
Resourees
expended
Transfers
Unrestricted funds
General
Operattonal reserves
Assets in Reserves
118.662
601.385
293.064
53,846
(213,314)
(13,390)
{226.704)
20,095
218,507
641.841
720,1)47
346.910
20.095
860,348
Designated
DeSIgt￿1ed Reserve
125.000
125,000
Total unregtricted funds
845.047
346,910
(226,704)
20,095
985,348
Restrlcted
Start me up show
Build My Start Up Clinics
Halifax equipment grant
Social EnteTPTise
Progran]me
Entrcpreneurship
Programmc
(3,207)
(278)
(1.123)
(2,793)
1,580
3,495
1.248
13
2,550
2,385
2,231
{2,231)
3254
54
167
17.564
40
(12,945)
(70)
(7,873)
SULF
ENI Start Her Up
Go Suceed
ENI-Exploring S &
Entrepreneurship skills
Boost Bursary
24
(167)
4,220
(1.129)
3.091
7.031
1.800
(7,031)
{1.800)
Total restricted funds
10.781
37,916
(20,552)
(20.095)
8,050
Total funds
855.828
384,826
{247,256)
993.398
Page 39

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
The specific purposes for which the funds are to be applied are as follow8..
Halifax equipment grant. The Halifax Foundation Northern Ireland awarded ￿nd]llg lowards the purchase of
Meeting Owl Pros and Sarnsung Smart 4k Ultr8 HR LED Tvs and as50¢ialed equipment during 2022-2023.
This was to allow Anlrim Enterprise to revert to a more effective hybrid approach to training.
Build My Start Up Clinics- Under the suite of support, clinics are delivered covering business & Legals"
personal finance. business finance Jnd health and well-being.
Start Me Up Show funded through Antrtm and Newtowlabbey Borough Council and Department for Commities
Area at Risk Fund is desigmed to work with individuals within the wards of Farranshane, Steeple and
Ballycraigy specifically intended to inspire participants to slart the journey of self-employmenl. Il was airned at
addressing the barriers faced by individuals looking to start their business and consisied of a series of
motivational events fealuring inspirational local entrepreneurs, business experts and clinics, supported by
tsilored coaching to allow individua15 to embark on the firsl steps of their entrepreneurial journey.
SULF- Our membership organisation Enterprise NI is the business support partner delivering Start Up Loans
(SULF) on behalf of British Business Bank in Northern Ireland. Antrim Enterprise as a member, sUPPOrts clients
with one year of n￿(orIng if they are recipients of a loan.
The Northern Ireland (Nl) Explore EnteTprise Support Service is an initiative delivered by Antrim Ent¢rprise
through Enterprise Northern Ireland in partnership with The Princes Trust Nl which provides self<mployTrenl
or employment support lo econorni¢ally inactive individuals across Antrim,Toomebridge, Randal8town and
Crnmlin.
Go Suceed- Through our membership of Enterprise NI, we deliv¢r Go Suce¢d, the go-to SOUTce for expert
business advice led by Northern Ireland's eleven local councils. The service provides between four and I I hours
of tailored support and guidance to help individuals achieve their business goals.
Donations- Antrim Enteryjrise have received a number of private donation during the course of the year, towards
Antrim Enterprise's Healthy Entrepreneur Hub activities including netWOTking events, tasier $es$ions and
subsidising health checks for clienrs.
Page 40

Antrim Enterprise Agency Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
23 ADAlysis of net a55ets behveen funds
Unrestricted
funds
Other
Total funds at
31 Marth
2025
Restricted
funds
Tangible fixed assets
Cu￿ent assets
CuTrent liabilities
Creditors over l year
661,450
506,362
(69,681)
(62,050)
1,036,081
748
18,704
662,198
525,066
(69.681)
(62,050)
Total net asset5
19,452
1.055,533
Unrestricted
funds
Other
Total funds at
31 March
2024
Re$lrleted
funds
Tangible fixed assets
Current assets
Current liabilities
Creditors over l year
641,841
498,908
(78,745}
(76,656)
1.871
6.179
643.712
505,087
{78,745)
{76.656)
Total net assets
985,348
8,050
993,398
Page 41